Keinformatifan Harga Saham dalam Kaitannya dengan Efisiensi Investasi

Bahtiar Usman
Journal article Media Riset Bisnis dan Manajemen • Desember 2006

Abstrak

According to the Efficient Market Hypothesis, greater firm specific stock price variation reflects higher intensity firm specific information capitalization in stock price. In this study we propose that higher firm specific price variation maybe an indicator of greater functional-form market efficiency. We regress PER (Price to Earning Ratio) as a proxy of efficiency of investment as a function of Y (Firm Specific Stock Price Variation) as a proxy of firm specific information capitalization in stock price. We provide new evidence that Indonesian Capital Market does not efficient yet because the result at 2003 and 2004 does not consistent. With coefficient determination (IV) only 25.27% show that we should include another explanatory variable to explain about investment efficiency

Metrics

  • 71 kali dilihat
  • 16 kali diunduh

Jurnal

Media Riset Bisnis dan Manajemen

Media Riset Bisnis & Manajemen diterbitkan tiga kali setahun sebagai media informasi dan komunika... tampilkan semua