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Investment Strategy Based on Bias Behavior and Investor Sentiment in Emerging Markets

ETIKONOMI · Vol. 21 No. 1 (2022) · hlm. 1–10

DOI
10.15408/etk.v21i1.22290
ISSN
2461-0771, 1412-8969
Terbit
2022-03-19
Penerbit
Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta
Bahasa
eng

Abstrak

This research's main objective is to select profitable investment strategies with the presence of sentiment investors in emerging markets, with behavior bias-based portfolio methods. The sample of 114 companies traded daily on IDX was conducted over three years with weekly data. This study uses pairwise comparison and OLS. The research results show that contrarian strategies are more profitable than momentum. Investors benefit when mild conditions are optimistic and more significant when the conditions are pessimistic. This research proves that investor sentiment in the market can distort investor investment decisions, even using the behavior-bias method. Therefore, forming a portfolio will be more appropriate based on biased behavior because it facilitates investment decision-making.How to Cite:Koesoemasari, D.S.P., Haryono, T., Trinugroho, I., Setiawan, D. (2022). Investment Strategy Based on Bias and Investor Sentiment in Ememerging Market. Etikonomi, 21(1), 1-10. https://doi.org/10.15408/etk.v21i1.22290.

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  • Sebelas Maret University
  • University of Brawijaya
  • Universitas Wijayakusuma Purwokerto
  • Universitas Teuku Umar
  • Yogyakarta State University
  • Universiti Putra Malaysia
  • Universitas Muhammadiyah Jakarta
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Rekan penulisOrganisasiArtikel bersama
Taufiq ArifinSebelas Maret University4
Y. Anni AryaniSebelas Maret University2
Mugi HarsonoSebelas Maret University2
Ekawati Rahayu NingsihSebelas Maret University2
Hunik Sri Runing SawitriSebelas Maret University2
Muhammad Agung PrabowoSebelas Maret University2
Bany Ariffin Amin NoordinUniversiti Putra Malaysia2
Wa Ode Nurmila SariSebelas Maret University1
BudiantoUniversitas Teuku Umar1
Wahyu WidarjoSebelas Maret University1
Reysvana Rukmana CaktiSebelas Maret University1
Penny RahmawatyYogyakarta State University1
Lilik WahyudiSebelas Maret University1
Ahmad Ikhwan SetiawanSebelas Maret University1
Richa Angelia SelbiSebelas Maret University1
Ellen Pramesti WijayaSebelas Maret University1
Aina MardiyaSebelas Maret University1
Rini SetyaningsihSebelas Maret University1
Aldy Fariz AchsantaSebelas Maret University1
Nugroho SaputroSebelas Maret University1
Nur ImamahUniversity of Brawijaya1
Layyin NafisaUniversity of Brawijaya1
Luki Okta FahriUniversity of Brawijaya1
Khresna Bayu SangkaSebelas Maret University1
Dewi IsmoyowatiSebelas Maret University1
Catur SugiartoSebelas Maret University1
Astri SuryantiSebelas Maret University1
Sri Hestiningsih WidiyantiAfiliasi tidak diketahui1
Desi ZulvinaSebelas Maret University1
Tastaftiyan RisfandySebelas Maret University1
Bambang SutrisnoUniversitas Muhammadiyah Jakarta1

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Sumber metadata: OAI-PMH (metadata jurnal) http://journal.uinjkt.ac.id/index.php/etikonomi/oai, pertama di-harvest 8 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Investment Strategy Based on Bias Behavior and Investor Sentiment  in Emerging Markets</dc:title>
	<dc:creator xml:lang="en">Koesoemasari, Dian Safitri Pantja</dc:creator>
	<dc:creator xml:lang="en">Haryono, Tulus</dc:creator>
	<dc:creator xml:lang="en">Trinugroho, Irwan</dc:creator>
	<dc:creator xml:lang="en">Setiawan, Doddy</dc:creator>
	<dc:subject xml:lang="en">bias behavior</dc:subject>
	<dc:subject xml:lang="en">investment strategy</dc:subject>
	<dc:subject xml:lang="en">investor sentiment</dc:subject>
	<dc:subject xml:lang="en">emerging market</dc:subject>
	<dc:description xml:lang="en">This research's main objective is to select profitable investment strategies with the presence of sentiment investors in emerging markets, with behavior bias-based portfolio methods. The sample of 114 companies traded daily on IDX was conducted over three years with weekly data. This study uses pairwise comparison and OLS. The research results show that contrarian strategies are more profitable than momentum. Investors benefit when mild conditions are optimistic and more significant when the conditions are pessimistic. This research proves that investor sentiment in the market can distort investor investment decisions, even using the behavior-bias method. Therefore, forming a portfolio will be more appropriate based on biased behavior because it facilitates investment decision-making.How to Cite:Koesoemasari, D.S.P., Haryono, T., Trinugroho, I., Setiawan, D. (2022). Investment Strategy Based on Bias and Investor Sentiment in Ememerging Market. Etikonomi, 21(1), 1-10. https://doi.org/10.15408/etk.v21i1.22290.</dc:description>
	<dc:publisher xml:lang="en">Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta</dc:publisher>
	<dc:date>2022-03-19</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.uinjkt.ac.id/index.php/etikonomi/article/view/22290</dc:identifier>
	<dc:identifier>10.15408/etk.v21i1.22290</dc:identifier>
	<dc:source xml:lang="en">ETIKONOMI; Vol. 21 No. 1 (2022); 1-10</dc:source>
	<dc:source>2461-0771</dc:source>
	<dc:source>1412-8969</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.uinjkt.ac.id/index.php/etikonomi/article/view/22290/pdf</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2022 Authors</dc:rights>
</oai_dc:dc>