Jogiyanto Hartono(1*)

(1) Universitas Gadjah Mada
(*) Corresponding Author


This paper discusses several biases due to the use of data in MBAR (Market Based Accounting Research). They are biases because of non-normality of the data, cross-dependency of the data and non-synchronous trading. This paper identifies conditions of the biases and also provides solutions to overcome the biases.

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