Title

A Closer Look at the characteristics of stock holdings of foreign and local investors in the Indonesian stock exchange (IDX)

Document Type

Journal Article

Publisher

World Scientific Publishing Co. Pte. Ltd.

Faculty

Faculty of Business and Law

School

School of Business/Marketing and Services Research Centre

RAS ID

16978

Comments

This article was originally published as: Sudiman, J. , Allen, D. E., & Powell, R. (2013). A Closer Look at the Characteristics of Stock Holdings of Foreign and Local Investors in the Indonesian Stock Exchange (IDX). Annals of Financial Economics, 8(1). Original article available here

Abstract

This study provides an overview of the characteristics of stockholdings of foreign and local investors in terms of firm sizes, price levels and liquidity. There are four key findings. First, the IDX is a highly concentrated market and foreign investors dominate the ownership of high market capitalization stocks. Second, foreign investors trade less frequently than domestic counterparts. Third, small, illiquid lower priced stocks dominate this market with domestic individual investors holding most of the stocks with these characteristics. Finally, the paper profits of foreign institutional and domestic individual investors are found to be higher than those of domestic institutional investors.

DOI

10.1142/S2010495213500024

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