Abstract
The aims of this study are examine the difference judgement given by investor using belief adjustment model to consider the pattern of presentation, the order of information and the tpye of information. This study using experimental design 2x2x2 mixed design, include: the pattern of presentation (Step by Step and End of Sequence), the order of information good news followed by bad news (++--) and bad news followed by good news (--++), and the type of information (accounting and non accounting). The hypothesis in this study were tested with Independence Sample T-test and Mann Whitney U. The participants were students STIE Perbanas Surabaya bachelor degree majoring in Accounting and Management who have knowlegde related to investment management and capital market or investment portfolio management and financial statements analysis. The result of this study showed that occurs recency effect while the pattern of information of Step by Step (SbS) and the type of information accounting and non accounting. This also occurs while the pattern of presentation of End of Sequence (EoS) and the type of acounting information occurs recency effect, wheares there was no order effect on the type of non accounting information.
Highlights
The development of stock and investment in the stock market attract the attention of many people to invest in a company
Discussion of the Effect of Information Order, Step by Step Presentation Pattern, and Information Type on Investment Decision Hypothesis (H1) in this study is to test whether there are differences in investment decisions between participants who get information order of good news followed by bad news (++--) than participants who get information order of bad news followed by good news (--++) on Step by Step presentation pattern and accounting information type
While the hypothesis (H2) in this study is to test whether there are differences in investment decisions between participants who get information order of good news followed by bad news (++--) and participants who get information order of bad news followed by good news (--++) on Step by Step presentation pattern and non accounting information type
Summary
The development of stock and investment in the stock market attract the attention of many people to invest in a company. The fluctuating index and stock allow investors to gain a considerable amount of profit. It cannot be neglected that high profits and fluctuations are accompanied by a high level of risk. The major information required by investors comes from disclosures made by companies listed on the Indonesia Stock Exchange (IDX). An investor needs a lot of information. The investor‟s knowledge of the information and disclosures made by the company is necessary in making investment decisions. In the process of investment decision making, the investor considers accounting information factor. The accounting information published by a company may be in the form of fi-
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