Sebelas Maret University

About: Sebelas Maret University is a education organization based out in Surakarta, Indonesia. It is known for research contribution in the topics: Population & Public health. The organization has 10901 authors who have published 10832 publications receiving 33057 citations. The organization is also known as: Universitas Negeri Surakarta & Universitas Sebelas Maret.

Overconfidence and Excessive Trading Behavior: An Experimental Study

Abstract: The main objective of the research is to examine the excessive trading hypothesis, investors who have higher overconfidence shown by high miscalibration levels will tend to practice aggresive and excessive trading strategy. It is an experimental research which combines both between and within subject design. The participants are undergraduate students who have already taken financial management course but have not yet invest in real capital market. The result of the research shows that high overconfidence investors have higher trading activity than low overconfidence investor. The other result shows that among high overconfidence investors, there is no trading activity differences between pre and post bad news, whereas among low overconfidence investors, the existence of bad news cause trading activity to decrease in the post bad news period. Then, the investment returns of high overconfidence investors is significantly lower than that of the low overconfidence investors.

Risk disclosure during the global financial crisis

Abstract: Purpose – The purpose of this paper is to examine voluntary risk disclosures within annual reports in four key South‐East Asian countries' (Indonesia, Malaysia, Singapore, and Australia) manufacturing listed companies over the Global Financial Crisis (GFC) 2007‐2009 financial years.Design/methodology/approach – Longitudinal and cross‐country analyses test the veracity of agency theory to predict the level of firms' risk disclosures. A comprehensive risk disclosure index (RDI) checklist is created with key predictor variables (country, company size, managerial ownership and board independence) tested to explain the dissemination of CSR information over time.Findings – The findings show that the communication of risk data stays relatively consistent (26‐29 per cent across the three GFC “crisis” years). This is arguably a low level of communication from a social responsibility corporate lens. Multiple regression analysis provides evidence that country, size and board independence are positively significantly...