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This study aims to see the effect of information disclosure of order effect on investor behavior in decision making. Experimental studies conducted on accounting students at the Faculty of Economics, Universitas Sriwijaya, analyze whether there were differences between participants who were given a series of good news information followed by bad news (Scenario A) and bad news followed by good news (Scenario B). The total participants in this experiment were 165 participants. The analysis technique used is the normality test and hypothesis testing using the Mann Whitney U test. The results showed that there was no difference between groups of participants who were given good news information followed by bad news and bad news followed by good news. The results of this study indicate that participants (investors) are still irrational in making investment decisions.
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