Proceedings of the 15th International Symposium on Management (INSYMA 2018)

Javanese lunar calendar effect (Primbon) on abnormal return

Authors
Sidarta Hermin, Putu Anom Mahadwartha
Corresponding Author
Sidarta Hermin
Available Online March 2018.
DOI
https://doi.org/10.2991/insyma-18.2018.11How to use a DOI?
Keywords
Javanese lunar calendar (Primbon), stock market, abnormal return.
Abstract
The purpose of this study is to examine Javanese lunar calendar (Primbon) effect to abnormal return on Indonesian Stock Market. Type of this study is conclusive descriptive using intraday trading data. The research observed and tested cultural phenomena called Primbon as a calendar effect on abnormal return. Studies of cultural event, Ramadhan effect. This research examined other issues which is a belief of traditional calendar called Primbon among Javanese in Indonesia. This study uses event study methodology to observe abnormal return of stocks recommended by Primbon that grouping into defensive stock called "rahayu" and aggressive stock called big luck (rezeki besar) on certain time in a day. Abnormal return from groups of stock recommended by Primbon only presented on Monday aggressive stocks group from 09.00 to 11.00. Thus it can be concluded that the recommendations of Primbon only partially affect the abnormal return on the Indonesia Stock Exchange.
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Volume Title
Proceedings of the 15th International Symposium on Management (INSYMA 2018)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
March 2018
ISBN
978-94-6252-475-0
ISSN
2352-5398
DOI
https://doi.org/10.2991/insyma-18.2018.11How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Sidarta Hermin
AU  - Putu Anom Mahadwartha
PY  - 2018/03
DA  - 2018/03
TI  - Javanese lunar calendar effect (Primbon) on abnormal return
BT  - Proceedings of the 15th International Symposium on Management (INSYMA 2018)
PB  - Atlantis Press
SP  - 44
EP  - 47
SN  - 2352-5398
UR  - https://doi.org/10.2991/insyma-18.2018.11
DO  - https://doi.org/10.2991/insyma-18.2018.11
ID  - Hermin2018/03
ER  -