ANALYSIS OF CONTROLLING, NON-CONTROLLING OWNERSHIP, MARKET CAPITALIZATION, SHARE TURNOVER ON STOCK MARKET RISK IN BEARISH CONDITIONS IN 1

Amount: ANALYSIS OF CONTROLLING, NON-CONTROLLING OWNERSHIP, MARKET CAPITALIZATION, SHARE TURNOVER ON STOCK MARKET RISK IN BEARISH CONDITIONS IN 1

Authors: REDHITO PRAMEZA Setyawaskita

Item Type: Thesis

Memberships: Master of Management Study Program, Faculty of Economics and Business Universitas Airlangga Surabaya, Indonesia

Publisher: Airlangga University

Abstract

The behavior of institutional investors in the market phase entering a bearish condition has different views on risk. Along with global financial problems, the Indonesian capital market also experienced a significant decline in 2008. This study aims to investigate the effect of controlling and non-controlling institutional ownership as well as market capitalization and stock turnover on stock market risk in the bearish phase of 2008. One hundred and three observations from the category of manufacturing companies, which are listed on the Indonesian stock exchange which are used as samples of this study, the analysis technique used is multiple linear regression. The results showed that in the bearish phase, stocks with high controlling and non-controlling categories as well as small and less liquid market capitalization were stocks with high risk categories. This indication shows that the bearish market category in 2008 was considered only as unsystematic risk which had no impact on the company's fundamentals by both controlling and non-controlling investors.

Keywords: Ownership Control, Non-Controlling, Bearish Market.

sources: http://repository.unair.ac.id/37097/