論價值投資是否於印尼股市中勝於成長投資

Do Value Investing Outperform Growth Investing in Indonesian Stock Market?

木欣尼(Mubarok, Zidni)

指導教授 ： 林哲群

國立清華大學/科技管理學院/國際專業管理碩士班(IMBA)/碩士(2020年)

摘要

N/A

關鍵字

價值投資 ； 增長投資 ； 印度尼西亞

並列摘要

Value investing refers to the investing method that picks undervalues securities as reflected from several indicators in comparison with the prices. This concept introduced by Graham and Dodd in 1934 and then became more popular since it mentioned by a renowned investor such as Warren Buffett. On the contrary, the growth investing style emphasizes more on the asset that is expected to grow relatively faster in the future. Many studies on value investing have been performed in both developed countries and developing countries to find the pattern and evaluate the investment return. In this article, the author is trying to test whether the value investing method able to outperform growth investing in the Indonesian stock market from 2003 - 2019. The results of the comparison between the two strategies inferred that the value investing slightly performs better than the growth strategy although statistically, they are equal.

並列關鍵字

Value Investing ； Growth Investing ； Indonesia

參考文獻

Bursa Efek Indonesia. (2020). Bursa Efek Indonesia. Retrieved from Bursa Efek Indonesia Web site: https://www.idx.co.id/tentang-bei/sejarah-dan-milestone/

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Dananjaya, Y., & Magdalena, R. (2016). Abnormal Return in Growth Incorporated Value Investing. Research Journal of Finance and Accounting, 1-6.

Fama, E. F., & French, K. R. (1998). Value versus Growth: The International Evidence. The Journal Of Finance , 1975-1999.