PERILAKU TAKING PROFIT INVESTOR JANGKA PENDEK DALAM INVESTASI SAHAM

Abstract

The research objective was to determine the behavior of securities analysts in the Indonesian capital market based on financial perspective. Behavior is identified by testing the fundamental aspects of financial statements such as accounting profit and dividend policy on stock returns. If the fundamental aspects are influential in considering stock selection, investors tend to be rational. However, if the fundamental aspects are not influential, fundamental analysis tends to be ignored. The research population is the BEI company that entered the 100 compass index from 2013-2017. The sampling technique uses purposive sampling with predetermined criteria. The data analysis technique uses panel data regression which includes: descriptive statistics, regression model estimation, regression model selection, F test, coefficient of determination and to prove the hypothesis used t test. The results of the study prove that accounting profit has an effect on stock returns, while dividend policy have no effect on stock returns. Research findings: 1. In stock investments, investors tend to be taking profit in the form of capital gains because they are considered faster in providing profits; 2. Investors prefer technical analysis rather than fundamental analysis because they are considered faster in providing information.
Keywords: Accounting Profit, Dividend Policy and Stock Return