CD Skripsi
Herding Behavior Pada Pasar Saham Perusahaan Bursa Efek Indonesia Yang Teridentifikasi Boikot Setelah Penetapan Fatwa Mui No. 83/2023
ABSTRACT
This research aims to detect herding behavior on the stock market of Indonesian Stock
Exchange companies which are the target of boycotts by the Indonesian people in
market conditions of rising, falling and overall prices after the stipulation of MUI
Fatwa No.83 of 2023. There are 6 companies that can be identified with price data
shares were taken during the 120 working days of the stock exchange in Indonesia after
the fatwa was issued from 9 November 2023 to 20 May 2024. The analytical tool used
was the Quantile Regression Test to detect herding behavior that occurred. The results
show that there is no indication of herding behavior when the market rises, falls or
overall from any quantile. This result is thought to be due to the use of words in the
fatwa that cause debate and there is no list of products included. Other supports such
as investor literacy have increased due to the rapid development of technology which
has simultaneously increased thinking or intellectual abilities to make investment
decisions. On the other hand, due to increased capabilities, investors' self-confidence
also increases so that decisions can be made rationally in investing.
Keywords: Herding Behavior, Boycott, Fatwa MUI, literacy, intellectual
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