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📢 New Article Published | The Dominance of Market Expectations over Systematic Risk on Stock Prices: Evidence from Fixed-Effects Panel Regression in Indonesia’s LQ45 Manufacturing Sector

Posted by research synergy on June 19, 2026 at 10:24am

📢 New Article Published
We are pleased to feature the latest research:
The Dominance of Market Expectations over Systematic Risk on Stock Prices: Evidence from Fixed-Effects Panel Regression in Indonesia’s LQ45 Manufacturing Sector
 
Understanding what truly drives stock prices remains a central issue in financial economics, particularly in emerging markets. While traditional asset pricing theories emphasize systematic risk as the primary determinant of stock valuation, behavioral finance suggests that investor expectations and market sentiment may play a more influential role.
 
This study investigates the relative impact of market risk and market expectations on stock prices within Indonesia’s LQ45 manufacturing sector.
 
💡 The findings reveal that market risk, measured through beta and volatility, does not significantly influence short-term stock valuations. In contrast, market expectations and investor sentiment have a strong and statistically significant impact on stock prices.
 
The results demonstrate that in emerging markets characterized by information asymmetry, behavioral factors and forward-looking expectations can outweigh traditional risk metrics in shaping market movements. These insights provide valuable implications for investors, portfolio managers, and policymakers seeking to better anticipate stock market dynamics.
 
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#AQA #StockMarket #InvestorSentiment #BehavioralFinance #MarketExpectations #SystematicRisk #LQ45 #IndonesiaStockMarket #FinancialEconomics #ResearchPublication #CallForPapers
 
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CALL FOR PAPER | Applied Quantitative Analysis (AQA)

Posted by research synergy on June 8, 2026 at 2:09am

CALL FOR PAPER | Applied Quantitative Analysis (AQA)

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🚀 Why publish in AQA?

Your research will reach a global academic audience through strong and trusted indexing platforms.

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