The Analysis Of Monday Effect And January Effect On Stock Return In Indonesia Stock Exchange (Case Study In Mining Sector Companies During The Period Of 2016-2017)

SUKIARITA, Resa (2018) The Analysis Of Monday Effect And January Effect On Stock Return In Indonesia Stock Exchange (Case Study In Mining Sector Companies During The Period Of 2016-2017). Skripsi thesis, Universitas Jenderal Soedirman.

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Abstract

This research is a study on capital market investment, particularly studies on stock return. The research entitled "The Analysis of Monday Effect and January Effect on Stock Return in Indonesian Stock Exchange (Case Study in Mining Sector Companies during the period of 2016-2017)”. The purpose of this study is to determine the existence of the several calendar anomalies especially Monday Effect and January Effect on Mining Sector Companies on Indonesia Stock Exchange during the period of 2016-2017. The samples in this study are 35 companies on mining sector that have been selected by using purposive sampling. The writer proposed three hypotheses in this study : (1) Monday effect existed on Indonesia Stock Exchange during the period of 2016-2017; (2) Week four effect existed on Indonesia Stock Exchange during the period of 2016-2017; (3) January effect existed on Indonesia Stock Exchange during the period of 2016-2017. The first and third hypotheses were examined by using Anova (Analysis of Variance) test and the second hypothesis was examined by One Sample T-test. The result indicates that : (1) There was no Monday effect on stock return to the Mining sector companies listed in Indonesian Stock Exchange during the period of 2016-2017; (2) There was no Week-Four effect on stock return to the Mining sector companies listed in Indonesian Stock Exchange during the period of 2016-2017; (3) There was no January effect on stock return to the Mining sector companies listed in Indonesian Stock Exchange during the period of 20162017. These findings will contribute to the future research as an additional references regarding the development of efficiency market discussions or studies. The implication of conclusion above is investors use anomalies such as Monday effect and January effect to gain additional profit which motivates them to know about right time of purchase and sell their stocks or shares. But based on the result of this study there was no calendar anomaly during the period of 2016-2017. Thus, using only technical analysis probably will not be effective. Investors in buying and selling stocks have to pay attention to the internal and external factors such as financial condition of the companies and the global economic condition that affect economic condition in capital market.

Item Type: Thesis (Skripsi)
Nomor Inventaris: C18326
Uncontrolled Keywords: Monday Effect, Week-Four Effect, January Effect, Stock Return
Subjects: S > S708 Stock exchanges
Divisions: Fakultas Ekonomi dan Bisnis > S1 Manajemen
Depositing User: Mrs Endang Kasworini
Date Deposited: 13 Aug 2020 03:49
Last Modified: 13 Aug 2020 03:49
URI: http://repository.unsoed.ac.id/id/eprint/4914

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