Jurnal Ilmiah Ekonomi dan Bisnis
Vol. 20 No. 2 (2023)

Does INDONESIAN CAPITAL MARKET EFFICIENT?: A RELATION BETWEEN PRICE-VOLUME

Said Kelana Asnawi (Institut Bisnis dan Informatika Kwik Kian Gie)
Samuel Pratama (Institut Bisnis dan Informatika Kwik Kian Gie)
Hans Christian Kurniawan (Unknown)
Samuel Yosua Rodjana (Institut Bisnis dan Informatika Kwik Kian Gie)

Article Info

Publish Date
25 Sep 2023

Abstract

Efficient markets show prices have reflected information. In an efficient market, the pattern of price movements is a random walk, meaning that prices cannot be predicted accurately, so investors do not get abnormal returns. The informations used in this study are: lag-return (r-1); lag return(r-2); trading volume, as well as the synergy between (r-1) and trading volume. This research found that the coefficient was not significant in almost all tests. Investors cannot use past information to get abnormal returns Thus the efficient market hypothesis is proven. This efficient market situation shows that all market participants have equal opportunities in terms of risk-return.

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Journal Info
Jurnal Ilmiah Ekonomi dan Bisnis
Website

Abbrev

JIEB

Publisher

Universitas Lancang Kuning

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Ilmiah Ekonomi dan Bisnis invites academics and researchers who do original research in the fields of economics, management and accounting, including but not limited to: Development Economics Monetary Economics, Finance and Banking International Economics Public Economics Economic development ...