PENGARUH STRATEGI BISNIS PERUSAHAAN DAN KOMPETISI PASAR EKUITAS TERHADAP RISIKO CRASH HARGA SAHAM DENGAN OVERVALUED EQUITIES SEBAGAI VARIABEL MEDIASI
DOI:
https://doi.org/10.22219/jrak.v7i1.10Abstract
Business Strategy, Equity Market Competition, Overvalued Equities, and Stock Price Crash
Risk. The purpose of this research is to examine the influence of prospector business strategy
and defender business strategy, equity market competition, and indirect effect of prospector
business strategy on stock price crash risk through ovevalued equities. The sample of this
research are 192 companies that are divided into 96 prospector business strategy and 96 defender business strategy during 2010-2016. This study uses a secondary data from financial
report, number of investor, and stock price information. Which is obtained from the official
website of IDX, KSEI and yahoo finance. The results of this study indicate that the prospector
business strategy effect on the stock price crash risk, while the defender business strategy does
not affect on stock price crash risk. The equity market competition is proven to reduce the stock
price crash risk. The existence of a prospector business strategy will tend to overvalued equities
which in turn, increase stock price crash risk.
Ke ywords: defender business strategy, equity market competition, overvalued equities, prospector business strategy, stock price crash risk
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