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EARNING PER SHARE, BOOK VALUE EQUITY, DAN CASH FLOW OPERATION PADA BUY HOLD ABNORMAL RETURN PRIMARY TREND SAHAM LQ-45 (PERIODE 2010-2012) Sitinjak, Elizabeth Lucky Maretha; Warastuti, Yusni; Sulistyanto, Heribertus Sri
Jurnal Akuntansi Bisnis Vol 13, No 25 (2014)
Publisher : Jurnal Akuntansi Bisnis

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The purpose of this study was to investigate the value relevance of accounting information (EPS, BVE, and CFO) against the decision of buying and holding stocks (buy and hold). This study uses regression model with abnormal return (BHAR) to see the value relevance of accounting information on the behavior of buying, selling and holding shares in the Indonesian Capital Market. Sample of companies used in this study, the LQ- 45 firms over three years (2010-2012). The study also looked phases that exist in the primary trend (accumulation phase, a public participation phase, the phase distribution). The results of this study, showing the value relevance of accounting information in the EPS trend of public participation phase.

PERILAKU INVESTOR INDIVIDU DALAM PEMBUATAN KEPUTUSAN INVESTASI SAHAM: EFEK DISPOSISI DAN INFORMASI AKUNTANSI Sitinjak, Elizabeth Lucky Maretha
Jurnal Organisasi dan Manajemen Vol 9 No 1 (2013)
Publisher : LPPM Universitas Terbuka

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Tujuan dari penelitian ini adalah untuk mengetahui pengaruh efek disposisi, pengaruh interaksi efek disposisi dengan perlakuan informasi akuntansi untuk pengambilan keputusan investasi di pasar saham. Dalam rangka untuk lebih mengetahui perbedaan antara perilaku pria dan wanita dalam mengambil keputusan untuk berinvestasi di pasar saham. Metode penelitian ini menggunakan kuasi experimental 2x2 Acak Blok ( RB - 22 ) ANOVA dan ANCOVA Within - Subject. Desain blok terbentuk dari banyak frekuensi perdagangan saham simulasi menggunakan program perdagangan kebajikan. Blok transaksi yang paling banyak di blok 1 dan paling sedikit melakukan transaksi di blok 4. Populasi investor individu domestik dan subyek eksperimen terdiri dari 120 investor individu, 70 dari Jakarta, 33 dari Semarang, dan 17 dari Yogyakarta. Quasi eksperimen dilakukan selama 45 menit. Penelitian menunjukkan ada efek disposisi sebelum dan sesudah perlakuan informasi akuntansi. Ada kecenderungan untuk menjual saham winner lebih cepat daripada saham losser. The purpose of this study was to investigate the influence of the disposition effect, the interaction effect of the disposition effect with treatment of accounting information for investment decision in the stock market. In order to better know the difference between the behavior of men and women in making decisions to invest in the stock market. This research method using a quasi-experimental 2x2 Randomized Block (RB-22) ANOVA and ANCOVA Within-Subject Design. Block design is formed of many frequencies simulated stock trading using virtue trade program. Block most frequent transactions in block 1 and block are seldom undertakes transactions on block 4. The population of domestic individual investors and quasi experimental subjects consisted of 120 individual investors, 70 from Jakarta, 33 from Semarang, and 17 from Yogyakarta. The total time is 45 minutes quasi experiment.The results of this research showed there is a disposition effect before and after treatment of accounting information. There is a tendency to release their winner stock faster than losser stock.

FAKTOR MAKRO EKONOMI (VARIABEL CRR) PADA RETURN PORTOFOLIO PASAR SAHAM DI INDONESIA SAAT BULLISH DAN BEARISH Sitinjak, Elizabeth Lucky Maretha
Jurnal Organisasi dan Manajemen Vol 7 No 2 (2011)
Publisher : LPPM Universitas Terbuka

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Stock market conditions in Indonesia since 1998 until 2008 is increasing with the 500 IDX Composite can be inflated into 2000s. This becomes interesting factor associated with macro-economic factors that affect the variabel CRR (Chen Roll and Ross). Researchers exam which we form portofiolio into 3 classes, large, medium, and large size companies from multiplying shares outstanding by its stock price. This research periodesasi long enough so that the portfolio is formed only by 15 issuers, this is caused by mergers or acquisitions from the issuer, the issuer is listed on the Stock Exchange from 1998-2008. However, with 11 years of data is very good for macro economic conditions in Indonesia. Independen variabels of this study consisted of changes in inflation expectations (DEIt), unexpected inflation (Uit), unexpected risk free rate (URFt), and the rate of economic growth (GMT) have a significant effect on portfolio return of capital market conditions are bullish for all forms of portfolio. Meanwhile, bearish market conditions only for the portfolio of small and large sizes only. Economic growth rate did not significantly affect the three portfolios in the bearish market conditions, this is because the movement of our stock in Indonesia is still largely influenced by foreign investors.

PERILAKU INVESTOR INDIVIDU DALAM PEMBUATAN KEPUTUSAN INVESTASI SAHAM: EFEK DISPOSISI DAN INFORMASI AKUNTANSI Elizabeth Lucky Maretha Sitinjak
Jurnal Organisasi Dan Manajemen Vol 9 No 1 (2013)
Publisher : LPPM Universitas Terbuka

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1063.777 KB)

Tujuan dari penelitian ini adalah untuk mengetahui pengaruh efek disposisi, pengaruh interaksi efek disposisi dengan perlakuan informasi akuntansi untuk pengambilan keputusan investasi di pasar saham. Dalam rangka untuk lebih mengetahui perbedaan antara perilaku pria dan wanita dalam mengambil keputusan untuk berinvestasi di pasar saham. Metode penelitian ini menggunakan kuasi experimental 2x2 Acak Blok ( RB - 22 ) ANOVA dan ANCOVA Within - Subject. Desain blok terbentuk dari banyak frekuensi perdagangan saham simulasi menggunakan program perdagangan kebajikan. Blok transaksi yang paling banyak di blok 1 dan paling sedikit melakukan transaksi di blok 4. Populasi investor individu domestik dan subyek eksperimen terdiri dari 120 investor individu, 70 dari Jakarta, 33 dari Semarang, dan 17 dari Yogyakarta. Quasi eksperimen dilakukan selama 45 menit. Penelitian menunjukkan ada efek disposisi sebelum dan sesudah perlakuan informasi akuntansi. Ada kecenderungan untuk menjual saham winner lebih cepat daripada saham losser. The purpose of this study was to investigate the influence of the disposition effect, the interaction effect of the disposition effect with treatment of accounting information for investment decision in the stock market. In order to better know the difference between the behavior of men and women in making decisions to invest in the stock market. This research method using a quasi-experimental 2x2 Randomized Block (RB-22) ANOVA and ANCOVA Within-Subject Design. Block design is formed of many frequencies simulated stock trading using virtue trade program. Block most frequent transactions in block 1 and block are seldom undertakes transactions on block 4. The population of domestic individual investors and quasi experimental subjects consisted of 120 individual investors, 70 from Jakarta, 33 from Semarang, and 17 from Yogyakarta. The total time is 45 minutes quasi experiment.The results of this research showed there is a disposition effect before and after treatment of accounting information. There is a tendency to release their winner stock faster than losser stock.

FAKTOR MAKRO EKONOMI (VARIABEL CRR) PADA RETURN PORTOFOLIO PASAR SAHAM DI INDONESIA SAAT BULLISH DAN BEARISH Sitinjak, Elizabeth Lucky Maretha
Jurnal Organisasi Dan Manajemen Vol 7 No 2 (2011)
Publisher : LPPM Universitas Terbuka

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (215.521 KB)

Stock market conditions in Indonesia since 1998 until 2008 is increasing with the 500 IDX Composite can be inflated into 2000s. This becomes interesting factor associated with macro-economic factors that affect the variabel CRR (Chen Roll and Ross). Researchers exam which we form portofiolio into 3 classes, large, medium, and large size companies from multiplying shares outstanding by its stock price. This research periodesasi long enough so that the portfolio is formed only by 15 issuers, this is caused by mergers or acquisitions from the issuer, the issuer is listed on the Stock Exchange from 1998-2008. However, with 11 years of data is very good for macro economic conditions in Indonesia. Independen variabels of this study consisted of changes in inflation expectations (DEIt), unexpected inflation (Uit), unexpected risk free rate (URFt), and the rate of economic growth (GMT) have a significant effect on portfolio return of capital market conditions are bullish for all forms of portfolio. Meanwhile, bearish market conditions only for the portfolio of small and large sizes only. Economic growth rate did not significantly affect the three portfolios in the bearish market conditions, this is because the movement of our stock in Indonesia is still largely influenced by foreign investors.

PENGARUH KINERJA KEUANGAN PERUSAHAAN TERHADAP PENGAMBILAN KEPUTUSAN INVESTOR DALAM SIKLUS HIDUP PERUSAHAAN YANG BERBEDA Laksmi Nitya Pradipta; Elizabeth Lucky Maretha Sitinjak; Y. Wisnu Djati Sasmito
JOURNAL OF APPLIED BUSINESS ADMINISTRATION Vol 4 No 1 (2020): Journal of Applied Business Administration - Maret 2020
Publisher : Politeknik Negeri Batam

In this study will show the decision of investors at each stage of the life cycle has consideration of different financial ratios. The purpose of the study is to determine the effect of the company's financial performance on investor decision making at the five stages of the company's life cycle. The study uses data of manufacturing companies in the 2014-2016 period. The analysis was performed by SPSS analysis tool. The result is ratio that affects investor decision making in each cycle is different. In the introduction stage only liquidity ratios affect the decision making of investors with a positive direction. At the growth stage, leverage ratios that influence investor decision-making in a negative direction and activity ratio in a negative direction. The shakeout phase is only the liquidity ratio that influences the decision making of investors in a positive direction. The mature stage, the profitability ratio that influences the decision making of investors with a positive direction, the liquidity ratio influences in the negative direction and the leverage ratio influences the positive direction. In the decline stage which influences investor decision making is the leverage ratio in the negative direction while the liquidity ratio and activity ratio have a positive direction.

Pengaruh Strategi dan Preferensi Investor terhadap Pengambilan Keputusan Investasi dengan Media Informasi sebagai Variabel Moderating Isabelle Imelda; Elizabeth Lucky Maretha Sitinjak; Eny Trimeiningrum
Jurnal Pasar Modal dan Bisnis Vol 1 No 2 (2019)
Publisher : The Indonesia Capital Market Institute

The purpose of this study was to determine the effect of investor strategies and preferences on investment decision making with information media as a moderating variable. The population in this study are all investors in Semarang. The sampling technique in this study used purposive sampling technique. Data from this study are derived from primary data. The method used for data collection needed in this study is a questionnaire. Data analysis in this study uses multiple regression analysis. The results of this study are that investor strategy has a positive effect on investment decision making, investor preferences have a positive effect on investment decision making, information media can be a moderating variable that strengthens the influence of investor strategy on investment decision making, but it is not significant, and information media can be a moderating variable that is strengthen the influence of investor preferences on investment decision making.

Model Perilaku Investor Individu Indonesia Sebelum dan Masa Pandemi Covid-19 Elizabeth Lucky Maretha Sitinjak; Kristiana Haryanti; Widuri Kurniasari; Yohanes Wisnu Djati Sasmito
Jurnal Pasar Modal dan Bisnis Vol 4 No 1 (2022)
Publisher : The Indonesia Capital Market Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37194/jpmb.v4i1.70

The purpose of this study makes model the behavior of individual stock investors before and during the Covid-19 pandemic from macroeconomic information, accounting information, technical information, and personalities. The method used is Focus Group Discussion (FGD) and then using the Analytical Hierarchy Process (AHP) will form a model, while the quantitative data is processed using Tetrad V to get the next model. The results obtained by macroeconomic information affect both accounting and technical information. However, the behavior of individual stock investors in Indonesia is very reliable for investor personalities in making their stock investment decisions compared to the information received. There is a shift in the behavior of rational investors to irrational and vice versa irrational to rational investors. We mention hybrid behavior when market conditions enter the Covid-19 pandemic. DISC personalities, investors, individuals before the pandemic period tend to be precise (a combination of stability and compliance), when entering a pandemic, the personality tends to tend towards stability.

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