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Window dressing effect pada reksa dana saham di indonesia periode 2009-2013

Intania, Intania (2014) Window dressing effect pada reksa dana saham di indonesia periode 2009-2013. Bachelor Thesis thesis, Universitas Multimedia Nusantara.

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Abstract

Market timing is a strategy that can be used to compile aportfolio of equity mutual funds . There are a lot of market timing’s example that can be utilized, such as the January effect , the earnings announcement and one of them is window dressing . Window dressing often happens when the deadline’s for investment report approach, which is usually in December. Investment Managers are likely to buy the winning stocks and sell the losers stocks from their portfolios, for a better impression to the investors . This study aims to determine the occurrence of window dressing effect on equity mutual funds in Indonesia by looking at the difference in abnormal returns on the day before and after the reporting date of December 31st .This type of research is a hypothesis testing that using independent t-test and event study to examine the test results. The samples are equity mutual funds which has been traded since 2009 and 2013 , and the net asset value for each equity mutual funds, have minimum of two trillion. The related mutual funds data is secondary data from the official website of the capital markets especially that focus to mutual funds . The result of this study indicates that the absence of window dressing effect in Indonesia . Where the result is the opposite of the previous researches . This is due to the sample selection that includes the net asset value for each equity mutual funds . And the selection that are based on the net asset value of equity mutual funds , could have influenced Investment Manager’s decision to utilize window dressing as strategy for compiling the investor’s portfolio

Item Type: Thesis (Bachelor Thesis)
Subjects: H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation
H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation > HG4551-4598 Stock exchanges
Divisions: Fakultas Bisnis > Program Studi Manajemen
Depositing User: mr admin umn
Date Deposited: 06 Jul 2017 06:41
Last Modified: 14 Aug 2017 08:35
URI: http://kc.umn.ac.id/id/eprint/603

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