Hasil Pencarian  ::  Simpan CSV :: Kembali

"Fokus dari penelitian ini adalah perilaku dari investor reksa dana terbuka ketika dihadapkan kepada sinyal informasi jamak mengenai kinerja historis dari reksa dana. Perilaku investor dapat tercermin dalam keputusan penempatan dan penarikan dana kelolaan reksa dana. Selain itu, penelitian juga mengamati keberadaan ambiguitas yang diterima investor atas sinyal informasi jamak, serta reaksi yang timbul atas ambiguitas tersebut. Hasil penelitian menunjukkan bahwa investor reksa dana terbuka memiliki sensitivitas atas sinyal informasi kinerja historis reksa dana, serta memiliki sensitivitas tambahan karena ambiguitas dari sinyal informasi jamak. Atas ambiguitas yang timbul, investor menempatkan bobot yang lebih kepada sinyal informasi negatif dan sinyal informasi terburuk dalam keputusan investasi.

---

The focus of this study is the behaviour of open-ended mutual fund investors when encountered with multiple information signals of mutual fund?s past performance. The behaviour of investors can be reflected on their decision to subscribe or redeem their funds from the mutual fund. Moreover, the research observes the presence of ambiguity within investors because of multiple information signals, and also their reaction towards it. The results found that open-ended mutual fund investors have sensitivity towards past performance information signals, and also have additional sensitivity to the ambiguity of multiple information signals. Because of the presence of ambiguity, investors give more consideration to negative information signals and the worst information signal in their investment decisions."

"This study focuses on the behavior of open-ended mutual fund investors when encountered withmultiple information signals of mutual fund?s historical performance. The behavior of investors canbe reflected on their decision to subscribe or redeem their funds from mutual funds. Moreover, we observethe presence of ambiguity within investors due to multiple information signals, and their reactiontowards it. We apply a Fama-McBeth Regression technique for equity mutual funds, fixed incomemutual funds, and balanced mutual funds that are effective during the period of February 2010 untilFebruary 2015. Our finding shows that open-ended mutual fund investors do not only have sensitivitytowards past performance information signals, but also have additional sensitivity towards theambiguity of multiple information signals. Because of the presence of ambiguity, investors considermore on negative information signals and the worst information signal in their investment decisions."