STUDI HARI LIBUR KEAGAMAAN DI PASAR MODAL INDONESIA

Edon Ramdani, - (2023) STUDI HARI LIBUR KEAGAMAAN DI PASAR MODAL INDONESIA. S3 thesis, Universitas Pendidikan Indonesia.

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Abstract

Edon Ramdani. 2023. "Studi Hari Libur Keagamaan Di Pasar Modal Indonesia”. Program Studi Doktor Manajemen Universitas Pendidikan Indonesia. Promotor: Prof. Dr. H. Nugraha, SE.,M.Si.,Akt.,CA.,CPA.,CFP, Ko-Promotor: Prof. Dr. H. Disman, MS., Anggota: Dr. Maya Sari, SE.,MM. Penelitian ini bertujuan untuk mengkaji perilaku investor terhadap peristiwa hari libur keagamaan, dengan menguji pengaruh hari libur keagamaan terhadap return, harga dan volume perdagangan saham. Metode penelitian menggunakan studi peristiwa (Event Study) dengan masa pengamatan tahun 2006-2021 (16 tahun), menguji 11 hari libur keagamaan terhadap return, harga dan volume perdagangan sehingga ada 528 peristiwa pengamatan (11 x 3 x 16 Tahun). Event window pada penelitian ini 11 hari. Hasil penelitian mendapatkan tidak ada perbedaan return dan volume perdagangan saham sebelum dan setelah libur, sementara pada harga saham terdapat perbedaan sebelum dan setelah libur. Ini mengindikasikan hari libur keagamaan tidak berpengaruh terhadap return dan volume perdagangan saham, namun berpengaruh pada harga saham. Hari libur keagamaan terkait dengan psikologi investor yang mempengaruhi mood, emosi dan motivasi. Penulis menyimpulkan bahwa mood, emosi dan motivasi investor mempengaruhi sentimennya yang kemudian berdampak kepada return, harga dan volume perdagangan saham. Kata Kunci: Libur Hari Keagamaan, Mood, Sentimen, Return, Harga, Volume Edon Ramdani. 2023. “Study of Religious Holidays in the Indonesian Capital Market”. Study Program Doctoral Management, Universitas Pendidikan Indonesia. Promotor: Prof. Dr. H. Nugraha, SE., M.Sc., Akt., CA., CPA., CFP, Co-Promotor: Prof. Dr. H. Disman, MS., Member: Dr. Maya Sari, SE., MM. The purpose of this study is to examine investor behavior on religious holidays by differentiating the impact of religious holidays on stock yields, prices and trading volumes. This research methodology uses an event study with an observation period of 2006 to 2021 (16 years), testing the returns, prices and trading volumes of 11 religious holidays, using 528 observation events (11 x 3 x 16 years). The event window for this study is 11 days. As a result, while there was a difference in stock prices before and after the holiday, there was no difference in stock return and trading volume before and after the holiday. This shows that religious holidays do not affect returns and stock trading volumes, but they do affect stock prices. Religious holidays are associated with investor psychology that affect mood, emotions and motivation. The authors conclude that an investor's mood, emotions, and motivations affect mood, which in turn influences stock returns, prices, and trading volumes. Keywords: Religious Holidays, Mood, Sentiments, Returns, Prices, Volumes

Item Type:	Thesis (S3)
Uncontrolled Keywords:	pasar modal indonesia
Subjects:	L Education > L Education (General)
Divisions:	Sekolah Pasca Sarjana > Ilmu Manajemen S-3
Depositing User:	EDON RAMDANI
Date Deposited:	25 May 2023 04:41
Last Modified:	25 May 2023 04:41
URI:	http://repository.upi.edu/id/eprint/90423

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