The impact of pre-closing implementation to price efficiency in indonesia stock exchange / Gilang Praditiyo

Gilang Praditiyo; (AJB Bumiputera, Fund Management Division, 2014)

The Indonesia Stock Exchange has really concerned about improving stock market quality these

days. One of its effort is implementing pre-closing trading session. It refers to Decision of the Board

of Directors of The Indonesia Stock Exchange Number Kep-00399/BEI/11-2012, regarding Amendment

to Rule Number II-A concerning Equity-Type Securities Trading. The rule is effective on 2nd

January 2013 and Indonesia Stock Exchange has implemented it since that date. The purposes of

pre-closing implementation are to mitigate marking the close, which is the practice of buying security

at the very end of the trading day at a significantly higher price than the current price of the security,

and to improve market quality. This paper attempts to veryfy whether the impact of pre-closing implementation

to price efficiency is positive or not. The result shows that the pre-closing implementation

has positive impact to price efficiency. It reduces the return volatility and market manipulation at the

closing time which also means that the pre-closing implementation has effectively improved market

quality in the Indonesia Stock Exchange.

No. Panggil :	PDF
Entri utama-Nama orang :	Gilang Praditiyo, author





Subjek :	Economics
Penerbitan :	[Place of publication not identified]: AJB Bumiputera, Fund Management Division, 2014

Sumber Pengatalogan :	LibUI eng rda
ISSN :	23563818
Majalah/Jurnal :	Indonesian Capital Market Review
Volume :	Vol 6 No 1 January 2014 49-54
Tipe Konten :	text
Tipe Media :	computer
Tipe Carrier :	online resource
Akses Elektronik :	http://journal.ui.ac.id/index.php/icmr/article/view/2986
Institusi Pemilik :	Universitas Indonesia
Lokasi :

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