印尼证券交易所房地产板块的投资者情绪与股价走势

Tri Kunawangsih Purnamaningrum
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引用次数: 1

摘要

-本研究的目的是分析情绪投资者(行为金融学),基本宏观经济和企业基本金融对印尼股市房地产股票上市的影响。基本宏观经济使用的两个代理变量是gdp增长和利率。公司基本财务也采用流动比率、净资产收益率、每股股息和海峡时报指数三个代理变量。本研究使用的数据是2011-2016年期间的季度数据。本研究是对17家公司的财产进行的(408次观察)。估计方法是基于随机效应模型的混合普通最小二乘回归。研究结果表明,经济增长和利率对房地产股票价格具有显著的负向影响。流动比率、每股股息和海峡时报指数对地产股价格有显著正相关。ROE具有负显著性。在本研究中,投资者情绪是准调节变量。
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Investor Sentiment and Stock Price Movement Property Sector in Indonesia Stock Exchange
—This purpose of this research is to analyse the effect of sentiment investor (behavioural finance), fundamental macro economy and fundamental finance of corporate towards the property stock price listing in Indonesia Stock Market. Fundamental macro economy using two proxy variable are growth of PDB and interest rate. Fundamental finance of corporate also using three proxy variable are current ratio, ROE, dividend per share and index Straits Times. The data used in this research was quarterly data during period 2011-2016. The study was conducted on 17 companies the property (408 observation). The estimation method is based on pooled Ordinary Least Square regression with random effects model. The results of this study shows economic growth and interest rate had negative significant toward property stock price. Current ratio, dividend per share and straits times index had positive significant toward property stock price. ROE has negative significant. In this research sentiment investor is quasi moderating variable.
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