Hubungan Perilaku Perdagangan Investor Dengan Volume Perdagangan Di Bursa Efek Indonesia

Syamni, Ghazali (2009) Hubungan Perilaku Perdagangan Investor Dengan Volume Perdagangan Di Bursa Efek Indonesia. Jurnal Manajemen Teori dan Terapan, 2 (1).


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This paper examines the relationship of behavior trading investor using data detailed transaction history corporate edition demand and order history in Indonesia Stock Exchange during period of March, April and May 2005. Peculiarly, behavior placing of investor order at trading volume. The result of this paper indicates that trading volume order pattern to have pattern U shape. The pattern happened that investors have strong desires to places order at the opening and close of compared to in trading periods. While the largest orders are of market at the opening indicates that investor ismore conservatively when opening, where many orders when opening has not happened transaction to match. In placing order both of investor does similar strategy. By definition, informed investors orders more large than uninformed investors. If comparison of order examined hence both investors behavior relatively changes over time. But, statistically shows there is not ratio significant. This imply behavior trading of informed investors and un informed investors stable relative over time. The result from regression analysis indicates that informed investors to correlate at trading volume in all time intervals, but not all uninform ed investors correlates in every time interval. This imply investor order inform is more can explain trading volume pattern compared to uninformed investor order in Indonesia Stock Exchange. Finally, result of regression also finds that order status match has greater role determines trading volume pattern intraday especially informed buy match and informed sale match. While amend, openand withdraw unable to have role to determine intraday trading volume pattern. Keywords: Behavior of investors, Trading volume, Conservative investors and Order status.

Item Type: Article
Subjects: E Economy, Accounting, Development > E12 Management
Divisions: Faculty of Economic and Business > Department of Management
Depositing User: Mr. Ghazali Syamni, S.E, M.Sc
Date Deposited: 23 Dec 2015 10:12
Last Modified: 23 Dec 2015 10:12

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