Legal Basis For Investors Using Stock Applications Who are Experiencing Stock Application Disruptions
DOI:
https://doi.org/10.31958/jeh.v8i1.9277Keywords:
Capital Market, Remote Trading, Stock ApplicationAbstract
Technological advances in Indonesia have introduced stock application technology, making it easier for investors to transact shares in the capital market. On July 22, 2022, the number of investors in the Indonesian capital market was 9.1 million people, with an average daily transaction of Rp. 16.1 Trillion. However, the development of this stock application was also followed by several new problems, such as the stock application experiencing disruptions such as a crash application, the stock application needing help to carry out buying and selling activities, and investors unable to enter the application. From this problem, a formulation of the problem is taken, namely, what form of legal protection does the investor using the stock application have in the face of disruption to the stock application? This research uses a sociolegal approach and a normative approach. The results obtained are that although the Civil Code and laws do not directly regulate stock applications, investors who experience problems with stock applications receive protection from the Civil Code Article 1365 BW, Law Number 8 of 1995 concerning Capital Markets, Law Number 8 concerning Consumer Protection and Law Number 21 of 2011 concerning the Financial Services Authority, Financial Services Authority Regulation Number 49/POJK.04/2016, Financial Services Authority Regulation Number 65/POJK.04/2020, and Financial Services Authority Regulation Number 3/ POJK.04/2021.References
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Boh, W. F., Huang, C., & Wu, A. (2020). Investor experience and innovation performance: The mediating role of external cooperation. Strategic Management Journal, 41(1), 124–151. https://doi.org/10.1002/smj.3089
Bryce, C., Ring, P., Ashby, S., & Wardman, J. K. (2020). Resilience in the face of uncertainty: Early lessons from the COVID-19 pandemic. Journal of Risk Research, 23(7–8), pp. 880–887. https://doi.org/10.1080/13669877.2020.1756379
Budd, L., & Ison, S. (2020). Responsible Transport: A post-COVID agenda for transport policy and practice. Transportation Research Interdisciplinary Perspectives, p. 6, 100151. https://doi.org/10.1016/j.trip.2020.100151
Chawla, D., & Joshi, H. (2019). Consumer attitude and intention to adopt mobile wallet in India – An empirical study. International Journal of Bank Marketing, 37(7), 1590–1618. https://doi.org/10.1108/IJBM-09-2018-0256
Choi, H. (2021). Investor attention and bitcoin liquidity: Evidence from bitcoin tweets. Finance Research Letters, p. 39, 101555. https://doi.org/10.1016/j.frl.2020.101555
Dagdeviren, H., Balasuriya, J., Luz, S., Malik, A., & Shah, H. (2020). Financialization, Welfare Retrenchment and Subsistence Debt in Britain. New Political Economy, 25(2), 159–173. https://doi.org/10.1080/13563467.2019.1570102
Dalen, A. S. H. M., Legemaate, J., Schlack, W. S., Legemate, D. A., & Schijven, M. P. (2019). Legal perspectives on black box recording devices in the operating environment. British Journal of Surgery, 106(11), 1433–1441. https://doi.org/10.1002/bjs.11198
Deitelhoff, N., & Zimmermann, L. (2019). Norms under Challenge: Unpacking the Dynamics of Norm Robustness. Journal of Global Security Studies, 4(1), 2–17. https://doi.org/10.1093/jogss/ogy041
Ding, S., Chen, W.-H., Mei, K., & Murray-Smith, D. J. (2020). Disturbance Observer Design for Nonlinear Systems Represented by Input–Output Models. IEEE Transactions on Industrial Electronics, 67(2), 1222–1232. https://doi.org/10.1109/TIE.2019.2898585
Fang, S., Zhou, P., Dinçer, H., & Yüksel, S. (2021). Assessment of safety management system on energy investment risk using the house of quality based on hybrid stochastic interval-valued intuitionistic fuzzy decision-making approach. Safety Science, 141, 105333. https://doi.org/10.1016/j.ssci.2021.105333
Gupta, P., Mehlawat, M. K., & Khan, A. Z. (2021). Multi-period portfolio optimization using coherent fuzzy numbers in a credibility environment. Expert Systems with Applications, 167, 114135. https://doi.org/10.1016/j.eswa.2020.114135
Han, H. (2021). Consumer behavior and environmental sustainability in tourism and hospitality: A review of theories, concepts, and latest research. Journal of Sustainable Tourism, 29(7), 1021–1042. https://doi.org/10.1080/09669582.2021.1903019
Kenney, E. L., Dunn, C. G., Mozaffarian, R. S., Dai, J., Wilson, K., West, J., Shen, Y., Fleischhacker, S., & Bleich, S. N. (2021). Feeding Children and Maintaining Food Service Operations during COVID-19: A Mixed Methods Investigation of Implementation and Financial Challenges. Nutrients, 13(8), 2691. https://doi.org/10.3390/nu13082691
Kourula, A., Moon, J., Salles-Djelic, M.-L., & Wickert, C. (2019). New Roles of Government in the Governance of Business Conduct: Implications for Management and Organizational Research. Organization Studies, 40(8), 1101–1123. https://doi.org/10.1177/0170840619852142
Krasodomska, J., & Zarzycka, E. (2021). Key performance indicators disclosure in the context of the EU directive: When does stakeholder pressure matter? Meditari Accountancy Research, 29(7), 1–30. https://doi.org/10.1108/MEDAR-05-2020-0876
Kumar, S., Tiwari, P., & Zymbler, M. (2019). Internet of Things is a revolutionary approach for future technology enhancement: A review. Journal of Big Data, 6(1), 111. https://doi.org/10.1186/s40537-019-0268-2
Liu, J., Gao, Y., Su, X., Wack, M., & Wu, L. (2019). Disturbance-Observer-Based Control for Air Management of PEM Fuel Cell Systems via Sliding Mode Technique. IEEE Transactions on Control Systems Technology, 27(3), 1129–1138. https://doi.org/10.1109/TCST.2018.2802467
López-Cabarcos, M. Á., Pérez-Pico, A. M., Vázquez-Rodríguez, P., & López-Pérez, M. L. (2020). Investor sentiment in the theoretical field of behavioral finance. Economic Research-Ekonomska Istraživanja, 33(1), 2101–2119. https://doi.org/10.1080/1331677X.2018.1559748
Luong, N. C., Hoang, D. T., Gong, S., Niyato, D., Wang, P., Liang, Y.-C., & Kim, D. I. (2019). Applications of Deep Reinforcement Learning in Communications and Networking: A Survey. IEEE Communications Surveys & Tutorials, 21(4), 3133–3174. https://doi.org/10.1109/COMST.2019.2916583
Mansour, N., Cherif, M. S., & Abdelfattah, W. (2019). Multi-objective imprecise programming for financial portfolio selection with fuzzy returns. Expert Systems with Applications, 138, 112810. https://doi.org/10.1016/j.eswa.2019.07.027
Mia, M. A., Dalla Pellegrina, L., Van Damme, P., & Wijesiri, M. (2019). Financial Inclusion, Deepening, and Efficiency in Microfinance Programs: Evidence from Bangladesh. The European Journal of Development Research, 31(4), 809–835. https://doi.org/10.1057/s41287-018-0188-6
Ming, F., Wang, D., Fan, X.-G., Shi, W.-N., Ye, L., & Chen, J.-L. (2020). Improved tripartite uncertainty relation with quantum memory. Physical Review A, 102(1), 012206. https://doi.org/10.1103/PhysRevA.102.012206
Moyo, L. B., Iyuke, S. E., Muvhiiwa, R. F., Simate, G. S., & Hlabangana, N. (2021). Application of response surface methodology for optimization of biodiesel production parameters from waste cooking oil using a membrane reactor. South African Journal of Chemical Engineering, 35, 1–7. https://doi.org/10.1016/j.sajce.2020.10.002
Parker, L. S., Sankar, P. L., Boyer, J., Jean McEwen, J. D., & Kaufman, D. (2019). Normative and conceptual ELSI research: What and why it is important. Genetics in Medicine, 21(2), 505–509. https://doi.org/10.1038/s41436-018-0065-x
Petrescu, D. C., Vermeir, I., & Petrescu-Mag, R. M. (2019). Consumer Understanding of Food Quality, Healthiness, and Environmental Impact: A Cross-National Perspective. International Journal of Environmental Research and Public Health, 17(1), 169. https://doi.org/10.3390/ijerph17010169
Saurugger, S., & Terpan, F. (2021). Normative transformations in the European Union: On hardening and softening law. West European Politics, 44(1), 1–20. https://doi.org/10.1080/01402382.2020.1762440
Sharma, A., Shahzad, B., Rehman, A., Bhardwaj, R., Landi, M., & Zheng, B. (2019). Response of Phenylpropanoid Pathway and the Role of Polyphenols in Plants under Abiotic Stress. Molecules, 24(13), 2452. https://doi.org/10.3390/molecules24132452
Shi, Y., Li, W., Zhu, L., Guo, K., & Cambria, E. (2021). Stock trading rule discovery with double deep Q-network. Applied Soft Computing, p. 107, 107320. https://doi.org/10.1016/j.asoc.2021.107320
Smales, L. A. (2021). Investor attention and global market returns during the COVID-19 crisis. International Review of Financial Analysis, 73, 101616. https://doi.org/10.1016/j.irfa.2020.101616
Soffer, T., & Cohen, A. (2019). Students' engagement characteristics predict the success and completion of online courses. Journal of Computer Assisted Learning, 35(3), 378–389. https://doi.org/10.1111/jcal.12340
Soldatic, K., & St Guillaume, L. (2022). Social Suffering in the Neoliberal Age: State Power, Logics and Resistance (1 ed.). Routledge. https://doi.org/10.4324/9781003131779
Stübinger, J. (2019). Statistical arbitrage with optimal causal paths on high-frequency data of the S&P 500. Quantitative Finance, 19(6), 921–935. https://doi.org/10.1080/14697688.2018.1537503
Wątorek, M., Drożdż, S., Kwapień, J., Minati, L., Oświęcimka, P., & Stanuszek, M. (2021). Multiscale characteristics of the emerging global cryptocurrency market. Physics Reports, 901, 1–82. https://doi.org/10.1016/j.physrep.2020.10.005
Wen, M., Li, P., Zhang, L., & Chen, Y. (2019). Stock Market Trend Prediction Using High-Order Information of Time Series. IEEE Access, 7, 28299–28308. https://doi.org/10.1109/ACCESS.2019.2901842
Yen, J.-C., & Wang, T. (2021). Stock price relevance of voluntary disclosures about blockchain technology and cryptocurrencies. International Journal of Accounting Information Systems, 40, 100499. https://doi.org/10.1016/j.accinf.2021.100499
Zheng, X., Zhang, D., Li, Y., Yang, C., Wu, Y., Liang, X., Liang, Y., Pan, X., Hu, L., Sun, Q., Wang, X., Wei, Y., Zhu, J., Qian, W., Yan, Z., Parker, A. G., Gilles, J. R. L., Bourtzis, K., Bouyer, J., … Xi, Z. (2019). Incompatible and sterile insect techniques combined eliminate mosquitoes. Nature, 572(7767), 56–61. https://doi.org/10.1038/s41586-019-1407-9
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2023-06-02
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Laksono, Y. K. (2023). Legal Basis For Investors Using Stock Applications Who are Experiencing Stock Application Disruptions. El -Hekam, 8(1), 70–83. https://doi.org/10.31958/jeh.v8i1.9277
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