Investors should reasonably transact their stocks. Unfortunately, not all of them are cogent. They make decisions based on some people's suggestions, such as friends, colleagues, family members, and overconfidence. This study attempts to test and analyze the effect of overconfidence and herding...

This study uses quarterly data, from March 2009 to December 2013 on the 25 liquid stocks listed in the Indonesian Stock Exchange. The data are collected from the Indonesian Capital Market Directory and from the Indonesian Central Bank. The aims from this study are to investigate whether...