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Stock Prices Analysis of State-Owned Enterprise and Non-State-Owned Enterprise in Response to Negative Information Period 2017-2019

机译:股票价格分析国有企业和非国有企业回应2017 - 2019年负面信息期

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摘要

There were bad news affected stock prices, i.e. Fraud and bad financial performance. Fraud on State Owned Enterprises (SOE) listed companies was suspected to have a stronger impact on stock prices compared to Non-SOE issuers. The effect of bad financial performance on Non-SOE issuers was thought to have a stronger impact on stock prices when compared to SOE issuers. This research was conducted on SOE and non-SOE that experienced fraud and bad financial performance from 2017 to 2019. Data analysis was performed with the Google Search Volume Index, Difference Test, and Multiple Linear Regression Analysis. The data from Google Search Volume Index showed that SOE issuers were more searched by the public when compared to Non-SOE issuers in responding to Fraud and bad financial performance. Linear Regression Analysis found that the decline in stock prices of SOE issuers was lower than the Non-SOE issuers in response to Fraud. The decline in stock prices of SOE issuers in response to the bad financial performance in the Property and Finance sectors was lower than the decline in stock prices of Non-SOE issuers. However, the decline in the stock prices of Non-SOE companies in response to the bad financial performance in the Basic Industry sector was lower than the SOE issuers. This could be influenced by SOE stock ownership dominated by the Indonesian government and the existence of a Conservatism Bias.
机译:受影响的股价受到糟糕的消息,即欺诈和不良财务表现。与非SOE发行人相比,国有企业(SOE)上市公司上市公司的欺诈公司被怀疑对股价产生了更强的影响。与SOE发行人相比,非SOE发行人对非SOE发行人的财务表现不良的影响是对股票价格的强烈影响。这项研究是在2017年至2019年的经历欺诈和不良财务表现的SOE和非SOE中进行的。通过谷歌搜索卷索引,差异测试和多元线性回归分析进行数据分析。来自Google搜索卷索引的数据显示,与非SOE发行人相比,公众在响应欺诈和不良财务表现时,公众将更多地搜索SOE发行人。线性回归分析发现,以响应欺诈,SOE发行人的股票价格下降低于非SOE发行人。 SOE发行人的股票价格下降以应对财产和财务部门的不良财务业绩低于非SOE发行人的股价下降。然而,非SOE公司股票价格下降以应对基本产业部门的不良财务表现低于SOE发行人。这可能受到印度尼西亚政府主导的国有企业股权和保守主义偏见的存在的影响。

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