Do Foreign And Local Ownership Affect Stock Prices In Indonesian Capital Markets

Wihartanto Wihartanto, Prima Naomi

Abstract


Investors in Indonesian capital markets comprise foreign investors and local
investors whose securities ownerships recorded electronically. Presumably,
investor ownership strongly affects movement of stock prices. Capital market
experts and observers have different opinions as to the impact of securities
ownership by foreign investors. Some are of the opinion that securities
ownership by foreigners does have impact on the price others state no impact.
This study has the purpose to observe the impact of securities ownership by
investors on stock prices on IDX. This study used the monthly data on
securities ownership for the period of January 2015 up to December 2015 from
all shares listed on IDX. The result of study indicates that change in the
securities ownership by foreigners has significant negative impacts on change
in stock prices, ownership by local investors has significant positive impact on
change in stock prices. Meanwhile, by sector, securities ownership by foreign
investors has diverse impacts on stock price change

Keywords


investor ownership; foreign investor ownership; local investor ownership; stock price change

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