Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.227-242
Anak Agung Putu Gede Bagus Arie Susandya, P. Kumalasari, Ida Ayu Ratih Manuari
The purpose of this study is to analyze the role of green intellectual capital on competitive advantage of Lembaga Perkreditan Desa (Balinese Financial Institution). The study tested by using data collected from a sample of 120 respondents that were randomly picked from 35 Lembaga Perkreditan Desa in Denpasar. Findings suggested that green human capital, green relational capital, and green structural capital affect competitive advantage at 17.6%. Furthermore, green human capital and green structural capital had positive effect on competitive advantage. Meanwhile, green relational capital did not affect competitive advantage. The eco-friendly concept remains a critical factor to gain company’s competitive advantage. This study provides insight into green innovation research field.
{"title":"The Role of Green Intellectual Capital on Competitive Advantage: Evidence from Balinese Financial Institution","authors":"Anak Agung Putu Gede Bagus Arie Susandya, P. Kumalasari, Ida Ayu Ratih Manuari","doi":"10.29259/sijdeb.v3i3.227-242","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.227-242","url":null,"abstract":"The purpose of this study is to analyze the role of green intellectual capital on competitive advantage of Lembaga Perkreditan Desa (Balinese Financial Institution). The study tested by using data collected from a sample of 120 respondents that were randomly picked from 35 Lembaga Perkreditan Desa in Denpasar. Findings suggested that green human capital, green relational capital, and green structural capital affect competitive advantage at 17.6%. Furthermore, green human capital and green structural capital had positive effect on competitive advantage. Meanwhile, green relational capital did not affect competitive advantage. The eco-friendly concept remains a critical factor to gain company’s competitive advantage. This study provides insight into green innovation research field.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43117313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.213-226
Rita Friyani, Riski Hernando
This study aims to try to examine the influence of Local Government Employee Understanding, Training, and External Pressure (Determinants) on the Effectiveness of Implementation Performance-Based Budgeting and Budget Absorption in Local Governments (Study on Jambi City Government). The population is all Dinas and SKPD in Jambi City Government. The sampling technique uses a purposive sampling approach. The criteria used are those involved in performance-based budgeting and budget execution practices. So, that the total sampel used was 60 people. Data were obtained by questionnaire distribution techniques to respondents throughout the Dinas and SKPD in Jambi City Government. Data analysis using SEM PLS. The results of data processing found that training, understanding, education and external pressure had a positive effect on the effectiveness of performance-based budget implementation and budget absorption.
{"title":"DETERMINANTS OF THE EFFECTIVENESS OF IMPLEMENTATION PERFORMANCE BASED-BUDGETING AND BUDGET ABSORPTION IN LOCAL GOVERNMENTS (STUDY ON JAMBI CITY GOVERNMENT)","authors":"Rita Friyani, Riski Hernando","doi":"10.29259/sijdeb.v3i3.213-226","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.213-226","url":null,"abstract":"This study aims to try to examine the influence of Local Government Employee Understanding, Training, and External Pressure (Determinants) on the Effectiveness of Implementation Performance-Based Budgeting and Budget Absorption in Local Governments (Study on Jambi City Government). The population is all Dinas and SKPD in Jambi City Government. The sampling technique uses a purposive sampling approach. The criteria used are those involved in performance-based budgeting and budget execution practices. So, that the total sampel used was 60 people. Data were obtained by questionnaire distribution techniques to respondents throughout the Dinas and SKPD in Jambi City Government. Data analysis using SEM PLS. The results of data processing found that training, understanding, education and external pressure had a positive effect on the effectiveness of performance-based budget implementation and budget absorption.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42368150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.207-212
K. A. Effendi, N. Nugraha
The purpose of this study is to examine whether the election of Jokowi as the country's leader (president) can affect the stock price return of the Jakarta Composite Index (JCI). The data used in this research is secondary data. Data comes from historical JCI. The data taken is daily data for 12 months before and after Jokowi was appointed president. The data analysis technique used is one t-test sample used to test the first hypothesis and the paired samplest t test was used to test the second hypothesis in this study. The results in testing the paired sample there is no difference in the return of stock prices in the era before and after Jokowi became president.
{"title":"Leader Effect and Return Stock Market","authors":"K. A. Effendi, N. Nugraha","doi":"10.29259/sijdeb.v3i3.207-212","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.207-212","url":null,"abstract":"The purpose of this study is to examine whether the election of Jokowi as the country's leader (president) can affect the stock price return of the Jakarta Composite Index (JCI). The data used in this research is secondary data. Data comes from historical JCI. The data taken is daily data for 12 months before and after Jokowi was appointed president. The data analysis technique used is one t-test sample used to test the first hypothesis and the paired samplest t test was used to test the second hypothesis in this study. The results in testing the paired sample there is no difference in the return of stock prices in the era before and after Jokowi became president.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43416823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.193-206
I. Igbinovia
The study examines the reaction of the Nigerian stock market to fluctuations in the mainstay of the Nigerian economy. Using time series data sourced from OPEC website and the Central Bank of Nigeria (CBN) Statistical Bulletin, we investigate the effect of oil price volatility on stock market returns in Nigeria during the period 1981 to 2017. Co-integration test established the long run relationship between variables, while, the Error Correction Model (ECM) and Pair-Wise Granger Causality test were used to ascertain the short run dynamics and the direction of causality between the variables of interest. The findings reveal among other things that Oil Price Volatility (OPV) has a non-significant positive effect on Stock Market Return (SMR) both in the short and long run period. Exchange Rate (EXR) and Interest rate (INT) were significant variables that influence stock market return in Nigeria during the period under review.
{"title":"Oil Price Volatility and Stock Market Returns in an Emerging Economy: Evidence from Nigeria","authors":"I. Igbinovia","doi":"10.29259/sijdeb.v3i3.193-206","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.193-206","url":null,"abstract":"The study examines the reaction of the Nigerian stock market to fluctuations in the mainstay of the Nigerian economy. Using time series data sourced from OPEC website and the Central Bank of Nigeria (CBN) Statistical Bulletin, we investigate the effect of oil price volatility on stock market returns in Nigeria during the period 1981 to 2017. Co-integration test established the long run relationship between variables, while, the Error Correction Model (ECM) and Pair-Wise Granger Causality test were used to ascertain the short run dynamics and the direction of causality between the variables of interest. The findings reveal among other things that Oil Price Volatility (OPV) has a non-significant positive effect on Stock Market Return (SMR) both in the short and long run period. Exchange Rate (EXR) and Interest rate (INT) were significant variables that influence stock market return in Nigeria during the period under review. ","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":"15 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41264531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.257-270
Imelda Imelda, Feny Marissa, Deassy Apriani
This research was carried out in the slum area located in the sub-district as the growth center of Palembang City, namely Ilir Timur II Subdistrict and secondary growth center, Ilir Barat District II. The analytical method used is the analysis of the Contingent Valuation Method (CVM), and the data used are primary data and secondary data. Public perceptions of participatory waste management efforts to improve environmental quality in slums are relatively good. It can be seen that as much as 61 percent of respondents answered that the people responsible for waste management were the people themselves. The level of public acceptance of participatory waste management efforts to improve the quality of the environment in slums is quite good. 120 people or 80 percent of respondents are willing to pay for waste management. Of the 120 respondents, the amount of rupiah willing to be paid to manage waste is Rp. 1,358,000. With monthly waste management fees of IDR 5,000-10,000, - Factors that influence the amount of willingness to pay for waste management, namely waste volume has a positive and significant effect, while income, education level, and number of dependents have no significant effect. Likewise with gender, between men and women does not have a significant effect so there is no difference in influence. The types of jobs between formal and informal, locations according to the primary, secondary and tertiary growth center categories and slum characteristics also have different effects on willingness to pay for waste management. Keywords: Willingness to Pay, WTP, Environment, Growth Center
{"title":"CAPABILITY AND DEVELOPMENT OF PAYING WASTE MANAGEMENT TOWARDS RUMID ENVIRONMENTAL IMPROVEMENT IN PALEMBANG CITY GROWTH CENTER","authors":"Imelda Imelda, Feny Marissa, Deassy Apriani","doi":"10.29259/sijdeb.v3i3.257-270","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.257-270","url":null,"abstract":"This research was carried out in the slum area located in the sub-district as the growth center of Palembang City, namely Ilir Timur II Subdistrict and secondary growth center, Ilir Barat District II. The analytical method used is the analysis of the Contingent Valuation Method (CVM), and the data used are primary data and secondary data. Public perceptions of participatory waste management efforts to improve environmental quality in slums are relatively good. It can be seen that as much as 61 percent of respondents answered that the people responsible for waste management were the people themselves. The level of public acceptance of participatory waste management efforts to improve the quality of the environment in slums is quite good. 120 people or 80 percent of respondents are willing to pay for waste management. Of the 120 respondents, the amount of rupiah willing to be paid to manage waste is Rp. 1,358,000. With monthly waste management fees of IDR 5,000-10,000, - Factors that influence the amount of willingness to pay for waste management, namely waste volume has a positive and significant effect, while income, education level, and number of dependents have no significant effect. Likewise with gender, between men and women does not have a significant effect so there is no difference in influence. The types of jobs between formal and informal, locations according to the primary, secondary and tertiary growth center categories and slum characteristics also have different effects on willingness to pay for waste management. Keywords: Willingness to Pay, WTP, Environment, Growth Center ","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47525428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-10-20DOI: 10.29259/sijdeb.v3i3.243-256
A. J. Sayuti, H. Setiawan
This research uses a quantitative approach using numbers, starting from data collection, data interpretation, and discussion of the results of the analysis. This type of research is causal research, which is research that shows the causal relationship between independent variables on the dependent variable in addition to measuring the strength of the relationship between these variables through hypothesis testing. The research method used in this study is a survey method. The population in this study are consumers who have enjoyed food in local restaurants in Palembang. The type of sampling used is purposive sampling. To meet the minimum requirements for a path analysis tool, 240 study respondents were taken with the provisions of the selection of consumers who have enjoyed food at a local restaurant in Palembang with certain considerations.
{"title":"The Effect of Service Quality, Physical Environment and Restaurant Images on Consumer Satisfaction through Perception of Value","authors":"A. J. Sayuti, H. Setiawan","doi":"10.29259/sijdeb.v3i3.243-256","DOIUrl":"https://doi.org/10.29259/sijdeb.v3i3.243-256","url":null,"abstract":"This research uses a quantitative approach using numbers, starting from data collection, data interpretation, and discussion of the results of the analysis. This type of research is causal research, which is research that shows the causal relationship between independent variables on the dependent variable in addition to measuring the strength of the relationship between these variables through hypothesis testing. The research method used in this study is a survey method. The population in this study are consumers who have enjoyed food in local restaurants in Palembang. The type of sampling used is purposive sampling. To meet the minimum requirements for a path analysis tool, 240 study respondents were taken with the provisions of the selection of consumers who have enjoyed food at a local restaurant in Palembang with certain considerations.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44909504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-28DOI: 10.29259/SIJDEB.V3I2.171-192
David Amani Kinyongoh
Despite its usefulness in business settings, very little is known about branding in the lens of higher education. The purpose of this study was to examine special critical incidents during service encounter performance whichcan trigger brand evangelism. The study adopted a cross-sectional survey research design,data were collected through administering semi-structured questionnaires to 241 students of one public university in Tanzania. Structural Equation Modelling was used to analyse data due to its strength in testing relationship between variables with multiple measurement items. The findings reveal that, service encounter performance that create unique memorable experience is very useful in triggering brand evangelism. It is recommended that, the best model of HEIs branding should consider students as the central point to HEIs brand. Therefore, HEIs should strive to proselytize students to be brand evangelists by ensuring that each service encounter produce critical incidents that create memorable experience and eventually love to HEIs brand.
{"title":"The Nexus Between Service Encounter Perfomance and Brand Evangelism","authors":"David Amani Kinyongoh","doi":"10.29259/SIJDEB.V3I2.171-192","DOIUrl":"https://doi.org/10.29259/SIJDEB.V3I2.171-192","url":null,"abstract":"Despite its usefulness in business settings, very little is known about branding in the lens of higher education. The purpose of this study was to examine special critical incidents during service encounter performance whichcan trigger brand evangelism. The study adopted a cross-sectional survey research design,data were collected through administering semi-structured questionnaires to 241 students of one public university in Tanzania. Structural Equation Modelling was used to analyse data due to its strength in testing relationship between variables with multiple measurement items. The findings reveal that, service encounter performance that create unique memorable experience is very useful in triggering brand evangelism. It is recommended that, the best model of HEIs branding should consider students as the central point to HEIs brand. Therefore, HEIs should strive to proselytize students to be brand evangelists by ensuring that each service encounter produce critical incidents that create memorable experience and eventually love to HEIs brand.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42838521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-13DOI: 10.29259/SIJDEB.V3I2.146-156
Aslamia Rosa, A. Widad, Islahuddin Daud
Daily transportation activities in various city streets are always filled with two-wheeled vehicles or motorbikes. The decision to use a motorbike considers several things, such us price, quality or durability of the product, ease of use, factors of culture, family, friends and habits. This study aims to reveal how the role of Risk readiness, perceptions of values that influence the decision to use a motorcycle through the user's involvement. The population in this study were motorcycle users in Palembang city who had at least used it for six months. This study uses sample of 201 people with data analysis techniques using Structural Equation Modelling (SEM). Based on the results of data analysis carried out, it is known that consumer involvement is not an intervening variable between Risk readiness and consumer decisions, and nor between consumer perceptions and consumer decisions. On the contrary, both exogenous variables actually influence consumer decisions directly. Consumer perceptions also do not require deep thinking but directly have an impact on consumers to decide using a motorcycle.
{"title":"The Effect of Risk Readiness and Perception of Values on Decisions of Using Motorcycle with The User's Involvement as Intervening","authors":"Aslamia Rosa, A. Widad, Islahuddin Daud","doi":"10.29259/SIJDEB.V3I2.146-156","DOIUrl":"https://doi.org/10.29259/SIJDEB.V3I2.146-156","url":null,"abstract":"Daily transportation activities in various city streets are always filled with two-wheeled vehicles or motorbikes. The decision to use a motorbike considers several things, such us price, quality or durability of the product, ease of use, factors of culture, family, friends and habits. This study aims to reveal how the role of Risk readiness, perceptions of values that influence the decision to use a motorcycle through the user's involvement. The population in this study were motorcycle users in Palembang city who had at least used it for six months. This study uses sample of 201 people with data analysis techniques using Structural Equation Modelling (SEM). Based on the results of data analysis carried out, it is known that consumer involvement is not an intervening variable between Risk readiness and consumer decisions, and nor between consumer perceptions and consumer decisions. On the contrary, both exogenous variables actually influence consumer decisions directly. Consumer perceptions also do not require deep thinking but directly have an impact on consumers to decide using a motorcycle.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46712449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-10DOI: 10.29259/SIJDEB.V3I2.134-145
Muhammad Teguh, Abdul Bashir
The high economic growth is very important for Indonesia to accelerate the development process at this period. Although, the growth rate was reached at 5.17 % in 2018 is likely high enough, some domestic economists even point out, it really can be raised to a higher level. This research tries to investigate and formulate again Indonesia’s economic growth rate in 2018 and forecast it for 2019. By doing analysis recent real GDP data by industrial origin and by type of expenditures, and also consider all of the available potential economic resources, this research shows that Indonesia’s economic growth rate could stand at 6.03 % in 2018 and also at 6.03 % in 2019. Anyway, the government need a good economic plan and consistently performing appropriate strategies which are suited to targets in order to have rapid and stable economic growth rate
{"title":"Indonesia’s Economic Growth Forecasting","authors":"Muhammad Teguh, Abdul Bashir","doi":"10.29259/SIJDEB.V3I2.134-145","DOIUrl":"https://doi.org/10.29259/SIJDEB.V3I2.134-145","url":null,"abstract":"The high economic growth is very important for Indonesia to accelerate the development process at this period. Although, the growth rate was reached at 5.17 % in 2018 is likely high enough, some domestic economists even point out, it really can be raised to a higher level. This research tries to investigate and formulate again Indonesia’s economic growth rate in 2018 and forecast it for 2019. By doing analysis recent real GDP data by industrial origin and by type of expenditures, and also consider all of the available potential economic resources, this research shows that Indonesia’s economic growth rate could stand at 6.03 % in 2018 and also at 6.03 % in 2019. Anyway, the government need a good economic plan and consistently performing appropriate strategies which are suited to targets in order to have rapid and stable economic growth rate","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44955256","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-30DOI: 10.29259/SIJDEB.V3I2.107-121
H. Malini
The paper attempts to investigate the validity of the Efficient Market Hypothesis and the existence of calendar effect on Indonesia Stock Exchange Market. Initially, this paper discusses types of EMH also the literature available regarding this topic. The sample of research is twenty one securities listed in LQ 45 Index on the Indonesia Stock Exchange Market (IDX), this paper applies non parametric tests which are Run test, Kruskal-Wallis test, Mann-Whitney test parametric test which are series correlation test, One-way Anova test and independent t-test two sample. Based on the results of the test of this paper, it can be concluded that Weak Form Efficient Market exists in LQ 45 Index of IDX while Day of the Week Effect and Month of the Year Effect are not found to exist in LQ 45 Index of IDX. In conclusion, it is observed that the effect of stock prices for the sample companies on future prices is very meager and an investor cannot reap profits by using the historical share price data as the current share prices already reflect the effect of past share prices data.
{"title":"Efficient Market Hypothesis and Market Anomalies of LQ 45 Index in Indonesia Stock Exchange","authors":"H. Malini","doi":"10.29259/SIJDEB.V3I2.107-121","DOIUrl":"https://doi.org/10.29259/SIJDEB.V3I2.107-121","url":null,"abstract":"The paper attempts to investigate the validity of the Efficient Market Hypothesis and the existence of calendar effect on Indonesia Stock Exchange Market. Initially, this paper discusses types of EMH also the literature available regarding this topic. The sample of research is twenty one securities listed in LQ 45 Index on the Indonesia Stock Exchange Market (IDX), this paper applies non parametric tests which are Run test, Kruskal-Wallis test, Mann-Whitney test parametric test which are series correlation test, One-way Anova test and independent t-test two sample. Based on the results of the test of this paper, it can be concluded that Weak Form Efficient Market exists in LQ 45 Index of IDX while Day of the Week Effect and Month of the Year Effect are not found to exist in LQ 45 Index of IDX. In conclusion, it is observed that the effect of stock prices for the sample companies on future prices is very meager and an investor cannot reap profits by using the historical share price data as the current share prices already reflect the effect of past share prices data.","PeriodicalId":32395,"journal":{"name":"Sriwijaya International Journal of Dynamic Economics and Business","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41813470","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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