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Articles 1 - 10 of 10
Full-Text Articles in Business
Investors’ Behavior Placing Orders In Indonesia Stock Exchange, Ghazali Syamni
Investors’ Behavior Placing Orders In Indonesia Stock Exchange, Ghazali Syamni
The Indonesian Capital Market Review
The objective of this research is to analyze the behavior pattern of trading volume at opening and closing of market in Indonesia Stock Exchange. The behaviors pattern is structured by investors' decision in placing buy and sell orders. This research used intraday data transaction history-corporate edition demand and order history stock which included in pre-opening and LQ-45 in Indonesia Stock Exchange on March, April, and Mei 2005. The result of this research is investor place bigger order on the opening and closing markets than period trading. This shows that they are more carefully and more conservative in doing trades on …
Comparison In Measuring Effectiveness Of Momentum And Contrarian Trading Strategy In Indonesian Stock Exchange, Rizky Luxianto
Comparison In Measuring Effectiveness Of Momentum And Contrarian Trading Strategy In Indonesian Stock Exchange, Rizky Luxianto
The Indonesian Capital Market Review
This paper wants to explore the effectiveness of momentum or contrarian strategy in Indonesian Stock Exchange using different methods in measuring the performance. The point of momentum or contrarian strategy is selecting winner (stocks with highest gain) or loser stocks (stocks with highest loss) and then buy or sell it based on the research result. This research employed three methods in measuring performance to select winner and loser stocks. The irst method used cross section relative return, while the second method used cross section relative return plus risk component (return divided by standard deviation), and the third method employed historical …
The Behavior And Determinants Of Stock Market Index In Indonesia, Gantiah Wuryandani
The Behavior And Determinants Of Stock Market Index In Indonesia, Gantiah Wuryandani
The Indonesian Capital Market Review
This research proves that the movement of Stock Market Index (JSX) in Indonesia does not follow random walk. Therefore, certain variables in inancial market inluence the movement of JSX. VECM and ECM testings show that regional index in ASEAN countries and Hongkong as well as exchange rate signiicantly affect JSX movement. This indicates a strong contagious effect of the stock market in Asia on the Indonesian stock market, which joined the exchange rate effects concurrently. On the other hand, monetary policy through Bank Indonesia rate (BI rate) less strongly affects the movement of JSX, albeit signiicant. Implicitly, this indicates that …
Moon Effect On Paciic Basin Stock Markets, Rayenda Khresna Brahmana, Chee Wooi Hooy, Zamri Ahmad
Moon Effect On Paciic Basin Stock Markets, Rayenda Khresna Brahmana, Chee Wooi Hooy, Zamri Ahmad
The Indonesian Capital Market Review
This is an empirical study on the inluences of moon on seven stock markets, which are Indonesia, Malaysia, United Kingdom, United States, Philippines, Japan, and Thailand. The period is from January 1999 until December 2009 in daily basis. This study investigates the relationship between moon phase and market returns. We divided moon phases into new moon and full moon. While literature mention the relationship between moon phase and market returns, our research reject the null hypothesis in regression analysis. However, the descriptive catches the indication and conirmed previous research. It also proposes that the market is still rational and not …
Causal Nexus Between Stock Price, Demand For Money, Interest Rate, Foreign Institutional Investment, And Exchange Rates In India: A Post Subprime Crisis Analysis, Iti Vyas, Narayan Prasad, Alok Kumar Mishra
Causal Nexus Between Stock Price, Demand For Money, Interest Rate, Foreign Institutional Investment, And Exchange Rates In India: A Post Subprime Crisis Analysis, Iti Vyas, Narayan Prasad, Alok Kumar Mishra
The Indonesian Capital Market Review
This paper makes an attempt to empirically examine the causal nexus between stock price, demand for money, interest rates, foreign institutional investment and exchange rates in India in the post subprime mortgage crisis period. The study employed Granger causality test, Vector Auto Regression and Johansen Maximum Likelihood procedure to examine the short run and long run dynamic interaction among the above mentioned variables for the period January 1993 to May 2009. The major indings of the study are: stock return affects exchange rate return, net foreign institutional investment and growth of demand for money. Growth of demand for money, in …
Risk And Real Estate Investment Trust (Reits) Return: Evidence From Listed Public Trust, Nor Edi Azhar Binti Mohamad, Noriza Mohd Saad, Suzaida Bakar
Risk And Real Estate Investment Trust (Reits) Return: Evidence From Listed Public Trust, Nor Edi Azhar Binti Mohamad, Noriza Mohd Saad, Suzaida Bakar
The Indonesian Capital Market Review
This study examines an association of risk and returns of REITs from Malaysian REITs listed companies. The secondary data for analysis is retrieved from Bloomberg's Database of all 13 listed REITs in the Bursa Malaysia main market for three year period, from 2007 to 2009 with quarterly observation. The dependent variables are average return, expected return using Capital Asset Pricing Model, Sharpe Index, and Jensen Alpha Index. The independent variables represented by standard deviation, beta, trading volume, gross domestic product, inlation rate, and share price. The control variable for this study is type of REITs, whether it was categorized as …
Financial Development And Economic Growth Nexus: The Moroccan Case, Mohamed Abouch, Elhadj Ezzahid
Financial Development And Economic Growth Nexus: The Moroccan Case, Mohamed Abouch, Elhadj Ezzahid
The Indonesian Capital Market Review
The issues of the existence and the direction of causality between inance and growth are not yet settled. Even if theoretical and historical evidences suggest an important contribution of inance to foster economic growth, empirical studies provide conlicting results depending upon analytical approaches, econometric techniques, and used data sets. The empirical exploration of the links between the development of the Moroccan inancial sector (MFS) and the economic performance of the country shed some light on the proile of this relationship. It appears that even if the indicators measuring the degree of development of the MFS have steadily evolved, they are …
Early Warning System In Asean Countries Using Capital Market Index Return: Modiied Markov Regime Switching Model, Imam Wahyudi, Rizky Luxianto, Niken Iwani Suryaputri, Liyu Adhika Sari Sulung
Early Warning System In Asean Countries Using Capital Market Index Return: Modiied Markov Regime Switching Model, Imam Wahyudi, Rizky Luxianto, Niken Iwani Suryaputri, Liyu Adhika Sari Sulung
The Indonesian Capital Market Review
Asia's financial crisis in July 1997 affects currency, capital market, and real market throughout Asian countries. Countries in southeast region (ASEAN), including Indonesia, Malaysia, Philippines, Singapore, and Thailand, are some of the countries where the crisis hit the most. In these countries, where financial sectors are far more developed than real sectors and the money market sectors, most of the economic activities are conducted in capital market. Movement in the capital market could be a proxy to describe the overall economic situation and therefore the prediction of it could be an early warning system of economic crises. This paper tries …
An Evaluation Of Indonesian Capital Market Co-Integration With Asean 4 To Enter The Asean Capital Market Integration In Accordance To Asean Economic Community (Aec) 2020 Scheme: Should Indonesia Enter Or Postpone?, Barli Suryanta
The Indonesian Capital Market Review
Association of South East Asian Nations (ASEAN) Economic Community (AEC) 2020 has already been declared on 7 October 2003 by ASEAN Concord II in Bali, Indonesia. In general, AEC was designed to prepare ASEAN countries for ASEAN economic integration within the next 10-15 year. ASEAN Free Trade Area (AFTA) had actually been launched since 1992 though was not comprehensive enough and kept ASEAN only partially integrated. To overcome it, ASEAN proposed inancial integration through capital market integration based on AEC commitment in order to reach comprehensive ASEAN economic integration. Indonesia is one of the ASEAN members that is linked by …
Role Of Indian Commodity Derivatives Market In Hedging Price Risk: Estimation Of Constant And Dynamic Hedge Ratio, And Hedging Effectiveness, Brajesh Kumar, Ajay Pandey
Role Of Indian Commodity Derivatives Market In Hedging Price Risk: Estimation Of Constant And Dynamic Hedge Ratio, And Hedging Effectiveness, Brajesh Kumar, Ajay Pandey
The Indonesian Capital Market Review
This paper examines hedging effectiveness of four agricultural (soybean, corn, castor seed and guar seed) and seven non-agricultural (gold, silver, aluminium, copper, zinc, crude oil and, natural gas) futures contracts traded in India, using VECM and CCC-MGARCH model to estimate constant hedge ratio and dynamic hedge ratios, respectively. We ind that agricultural futures contracts provide higher hedging effectiveness (30-70%) as compared to non-agricultural futures (20%). In the more recent period, the hedging effectiveness of Indian futures markets has increased. When hedging effectiveness of non-agricultural Indian futures contracts with the world spot markets (NYMEX and LME) is analyzed, hedging effectiveness increases …