88
CHAPTER V CONCLUSION, IMPLICATION, LIMITATION, AND SUGGESTION
5.1 Conclusion
Investors have to make a decision to where and when they invest their resources by considering the risk, expected return and which securities they
choose. By using advance information technology, especially internet connection, it makes the investors easier to get information and data about the company stock
that they choose that give impact to the investor behavior. Investors have a lot of alternatives, and the way they limiting their alternatives is depend on their
preferences; usually investors choose stocks that have first caught their attention From the analysis above, this research found that there are different result
between the influenced of investors’ attention of company stock information to the stock return, stock liquidity and stock return volatility between Indonesia and
India on the period observation from the year 2011 until 2013. The conclusion of this study is derived from the hypotheses testing in answering the problem
statement: a. The first hypothesis H.1a which is attention has positive influence to
stock return of manufacture companies in Indonesia is not supported. It is means that investors’ attention that measured using Google search volume
index is not influenced the stock return of manufacture companies in Indonesia for the observation period from 2011-2013. The result between
Indonesia and India is the same where the hypothesis 1b H.1 b that stated
5.1 Conclusion
Invest st
or s have to make
e a dec
e is
is io
io n
n to
to w
w here and whe
n n
they invest their resour
r c
ces by conside de
ri i
ng ng the risk, expected
d retu
tu rn
rn a a
nd which sec
ec urities they
ch h
o oose. By
y u
usi si
ng ng
advan an
ce ce
inf or
mation t
echnolog y,
e e
sp sp
eciall lly
y in in
te te
rn r
et con nne
n ction,
it ma ke
kes s
th th
e inve
ve st
or s
ea sier to get information and data a
bo bout
u the
h c
c om
om pa
pa ny s
s to
t ck
th h
at at
t h
hey ch h
oo se that give impact to t
he investor
be ha
vior. Inve st
stors ha have
ve a lot o of
al alte
te r
rnativ iv
es ,
and the way th
ey lim itin
g thei r
al ternatives is de
p pend
d o
o n
n th
t eir
prefere ence
s; usual ly
i nv
estors c ho
os e
st oc
ks tha
t have fir
st caught th
ei i
r attention n
From the analysis ab
ove, t
his resear ch
fou nd that there are di
ff ferent r
resul lt
betw wee
ee n
the in
fl ue
nc c
ed ed
of of
i i
nv nv
es e
tors’ attention on
o o
f f
co co
mp mp
any st
ock in
fo for
rmation n
to to
th t
e stock return, stock liquidity and d
st s
oc ock
k return volatility between Indonesi i
a a
an and
d In
Indi di
a a
on on
the period observation from the year 2011 until 2013. The c c
on on
cl clus
usio io
n n
of th
th is
is study
d i
is d
de i
rive ve
d d
fr from the
h h
h yp
yp ot
ot he
he se
ses test in
in g
g in
in answe i
ring the e p
pro oblem
statem m
en en
t: a. The first hypothesis H.
1a which is attention has positive influence to
stock return of manufactur ure compan
anies in Indonesia is not supported. It is means that investors’ attentio
ion th h
a at measured using Google search volume
index is not influenced the st s
ock return of manufacture companies in
89 attention has positive influence to stock return of manufacture company in
India is not supported by the result of hypothesis testing. b. Second hypothesis H.1b which is attention has positive influence to the
stock liquidity of manufacture companies in Indonesia is significantly
supported by the result of hypothesis testing. Meanwhile in India, the second hypothesis H.2b which is attention has positive influence to the
stock liquidity of Manufacture Company in India is not supported. c. Third hypothesis for Indonesia H.3a which is attention has positive
influence to the return volatility manufacture companies in Indonesia and the third hypothesis H.3b which is attention has positive influence to the
return volatility of manufacture company in India is significantly supported.
d. Fourth hypothesis H.4a which is Indonesia and India has the same result on the influenced of Investors’ attention to the return, liquidity, and
return volatility is not supported because the result of hypothesis testing is supported the hypothesis 4b H.4b that stated Indonesia and India has
different result on the influenced Investors’ attention to the return, liquidity, and return volatility.
b. Second hypothesis H H
1 .1
b b which is
at at
te te
ntion has positive influence to the stock liquid
d it
it y
y of manufacture companies in Ind d
on on
esia is significantly
supp p
or orted by the resul
t t
of of
h h
yp yp
ot ot
he he
sis s
testing. Meanw whi
h le in India, the
second hypot th
he si
sis H.2b which is attent t
io io
n n
ha ha
s s positive inf
flu lu
ence to the stoc
oc k
k li
li qu
qu idity of
of M
Man ufacture Compa
ny i
n In
In di
d a is n
n ot
ot s
s up
upported. c. Th
Th ir
ir d hy
hy po
th es
is for Indones ia
H.3a whic h
is a
a tt
t enti
ti on
on h
has as
pos it
it ive
infl l
u uenc
e to the ret ur
n volatility manufacture companies
in i
Ind d
on on
e esia and
d th
th e
th ird hypothesis
H. 3b wh
ic h is att
en ti
on has positive in
nflue enc
nce e
to to
the return v
ol atil
it y of m
an ufac
tu re
c ompany
i n
In dia is
significant t
ly ly
supported. d
d. Four
th h
yp ot
t he
he si
si s
s H
H 4
.4 a
a which is Indo
do ne
ne si
si a
a an
an d
d Indi
a ha
s th
e e
s same res
s u
ult t
on the influenced of Invest st
or ors’ attention to the return, liquidity
y ,
an and
d return volatility is not supported because the result of hypothes
es is
is tes es
ti ting
ng is
suppor t
te d
d th
the e
hy hy
po thesis
is 4
4b b H
H.4 .4
b b
that st tat
at ed
ed I
In d
done i
sia and In Indi
di a
a has di
d fferen
n t
t re
result on the infl l
u uenced In
Investors’ atten n
ti ti
on on
to th
the return, liquidity, and return vola
atility.
90
5.2 Managerial Implication
Kategori