Analisis Pengaruh Cuaca Terhadap Return Indeks Harga Saham Gabungan di Bursa Efek Indonesia
Based on various former research, weather is proven has an influence on human behavior. The weather can affect emotions and change the orientation of a person's risk. This study tested the main hypothesis that the weather, which is proxied through the cloud cover had a negative effect on return...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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| Online Access: | https://repository.ugm.ac.id/120078/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=60086 |
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| Institution: | Universitas Gadjah Mada |
| Summary: | Based on various former research, weather is proven has an influence on
human behavior. The weather can affect emotions and change the orientation of a
person's risk. This study tested the main hypothesis that the weather, which is
proxied through the cloud cover had a negative effect on returns Composite Stock
Price Index (CSPI) in Indonesia Stock Exchange (IDX). The database used in this
study is a secondary data for daily stock returns and daily cloud cover in the
Jakarta area. The study period began in January 2007 until December 2011.
The results of multiple regression analysis showed that the main
hypothesis is rejected by the discovery of a positive influence of cloud cover,
which the index return tends to increase when the weather is cloude and tends to
decrease when the weather is sunny. In addition, the results of this study indicate
that humans are not always rational as assumed in the stock market. |
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