scholarly journals The Dynamic Relationship between Macroeconomy and Stock Market in China: Evidence from Bayesian Network

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-12
Author(s):  
Yue Liu ◽  
Haoyuan Feng ◽  
Kun Guo
Keyword(s):  
Stock Market ◽  
Bayesian Network ◽  
Capital Market ◽  
Dynamic Bayesian Network ◽  
Macroeconomic Factors ◽  
Purchase Management ◽  
Dynamic Relationship ◽  
Network Method ◽  
Time Periods ◽  
The Capital Market

As the most important component of the capital market, the stock market has always been regarded as the “barometer” of the macroeconomy. However, many researchers have found that the stock market and macroeconomy are operating separately. This paper uses the dynamic Bayesian network method to study the dynamic relationship between the Chinese macroeconomic system and the stock market. The study found that the correlation between the macroeconomic system and the stock market is not consistent in different time periods. For most of the time, the stock system and the macroeconomic system are relatively independent. However, several macroeconomic factors such as Purchase Management Index could affect the stock market through some industries. A conclusion is drawn that the “barometer” function of the stock market is weak and easy to be damaged by factors such as the irrational sentiment of investors.

The Economic Impact of the Covid-19 Outbreak : Evidence from Indonesia

2020 ◽  
Vol 5 (3) ◽  
Author(s):  
Ahmad Ulil Albab Al Umar ◽  
Herninda Pitaloka ◽  
Eka Resmi Hartati ◽  
Dessy Fitria
Keyword(s):  
Stock Market ◽  
Economic Impact ◽  
Case Studies ◽  
Capital Market ◽  
Descriptive Study ◽  
Current Case ◽  
Quantitative Descriptive Study ◽  
Quantitative Descriptive ◽  
The Capital Market

This research aims to analyses the economic impact of the COVID 19 outbreak toward the stock market in Indonesia. This research is a quantitative descriptive study by collecting various sources from journals and current case studies about COVID 19 outbreak. The technique of collecting data uses quotations and related news. The results in this study are COVID-19 pandemic outbreak has a pretty bad impact on the capital market, where the occurrence of this pandemic has affected many investors in making investment actions that are very influential on the Stock Market.  

scholarly journals The Relationship between Macroeconomic Factors and Stock Market Indices Performances in Indian Stock Market

2018 ◽  
Vol 7 (4.36) ◽  
pp. 592
Author(s):  
D. Kinslin ◽  
V. P. Velmurugan
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Significant Finding ◽  
Macroeconomic Factors ◽  
Money Markets ◽  
Macroeconomic Variables ◽  
Indian Economy ◽  
Financing Costs ◽  
Indian Stock Market ◽  
The Relationship

This investigation endeavors in observationally testing the connection between macroeconomic variables and the exhibitions of two noteworthy Indian security advertise lists of BSE-sensex and NSE-clever. The yearly information of a few macroeconomic elements of FIIs net venture, trade rates, oil value, financing costs, swelling rates and gold rates from 1995-96 to 2014-15 are thought about and it attempts to uncover the most impact of these elements on the 'Stock files exhibitions' of the Indian securities exchange. In compatibility of this, the connection investigation and various relapse examination was utilized to contemplate the connection between the two chose security advertise files exhibitions and the six chose macroeconomic elements from the Indian economy. The significant finding is that macroeconomic elements impact securities exchange lists exhibitions in India. It is suggested that the usage of appropriate monetary approaches will be useful to money markets files and it will result in required development in the Indian capital market.   

The Shanghai-Hong Kong Stock Market

2015 ◽  
Vol 07 (03) ◽  
pp. 36-45
Author(s):  
Jing WAN
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Markets ◽  
Market Access ◽  
Mainland China ◽  
Opening Up ◽  
Hong Kong Stock Market ◽  
The Capital Market

The Stock Connect scheme launched on 17 November 2014 was the first mutual market access between mainland China and Hong Kong stock markets. It is the biggest move ever in the opening up of the capital market. Experiences accumulated will be of great value to mainland regulators who will decide on how these experiences could be utilised for China’s future opening up of its capital markets and for accelerating renminbi internationalisation.

scholarly journals Multi Criteria Analysis for Selecting Sharia Capital Market Management Investment Using ANP

2021 ◽  
Vol 12 (2) ◽  
pp. 93
Author(s):  
Hamzah Abdul Karim Prasetyo ◽  
Hendri Tanjung ◽  
Abrista Devi
Keyword(s):  
Capital Market ◽  
Financial Literacy ◽  
Financial Risk ◽  
Self Control ◽  
Performance Criteria ◽  
Control Individual ◽  
Investment Performance ◽  
Macroeconomic Factors ◽  
Market Criteria ◽  
The Capital Market

<div><p class="1eAbstract-text"><em>The society orientation has shifted from a saving-oriented society to an investing-oriented society. Currently, investors have many choices of investment instruments to invest in the Islamic capital market. Previous studies have shown the factors that influence the capital market and influence investors' decisions to invest in the capital market. This study uses the Analytic Network Process (ANP) method to (1) determine the criteria that need to be taken into consideration in choosing an Islamic capital market investment instrument. (2) knowing the ideal investment instrument based on established criteria. The criteria used in this study include seven criteria, namely: investment performance criteria, risk criteria, liquidity criteria, macroeconomic factor criteria, individual circumstance criteria, psychological factor criteria, and demographic criteria. The respondents in this study were five experts from academics, practitioners, and regulator. The major findings of the research are (1) the criteria to be considered in choosing Islamic capital market investment instruments are divided into investor criteria and capital market criteria. Investor criteria include; psychological factors (motivation and self control), individual circumtances (financial literacy), demographics (income and education). Capital market criteria include: investment performance (capital gain, yield, and fundamental analysis), risk (financial risk, market risk and management risk), macroeconomic factors (exchange rates and gross domestic product), liquidity (liquidity ratio). (2) the alternative with the highest priority is sharia mutual funds, then sukuk and sharia stocks</em><em>.</em></p></div>

scholarly journals PASAR MODAL DI INDONESIA DALAM PERSPEKTIF FIKIH MUAMALAH

2018 ◽  
Vol 4 (2) ◽  
pp. 145
Author(s):  
Muhammad Abdul Ghoni
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Islamic Law ◽  
Profit Sharing ◽  
Way Of Life ◽  
Straight Path ◽  
Islamic Jurisprudence ◽  
The Times ◽  
The Capital Market

Abstract: Islamic teaching that is a straight path but not a rigid religion, it is a line-giver to the problems encountered by humans in the course of their lives. Muslims should have a concept that contains a way of life to face the development and progress of the times with various problems. One area that is always warm to talk about is the economy. This problem is getting wider, more varied and more complex. It is not uncommon to find it complicated, especially when confronted with Islamic law. One of them is about the capital market. This journal tries to examine from the perspective of jurisprudence about the jala of the existing capital markets. If we look at the system of stock bidding mechanisms in the capital market, it will be clear that there is a similarity with the capital system contained in the conception of Islamic fiqh, known as mudharabah or qirodh. It is seen from the investors, executors, the nature of capital, capital, and profit sharing of the same shape. Thus, the system of buying and selling of shares in the stock market is clearly visible equation with mudharabah in Islamic jurisprudence.

PEMODELAN HARGA SAHAM BLUE CHIP MENGGUNAKAN VECTOR AUTOREGRESSIVE (VAR)

2016 ◽  
Vol 6 (2) ◽  
pp. 1
Author(s):  
Agus Suharsono ◽  
Aryo Wibisono
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Price ◽  
Stock Exchange ◽  
Rapid Development ◽  
Information Criterion ◽  
Profit Sharing ◽  
Blue Chip ◽  
The Capital Market

In a stock exchange in the capital market, the most in demand by investors is stocks. Shares are securities which shows the ownership of the company, so that shareholders have the right to a dividend or other distribution of profit sharing as well as by the company to its shareholders. The capital market is an indicator of economic progress and support the economy of a country. In this decade, the stock market has experienced rapid development due to pressure from technological change, liberalization and globalization. These changes affect the behavior of the capital markets and cause long-term balance and improving the relations between the world's capital markets. Otherwise interconnected capital markets if the two separate markets have the same movement and the correlation between the movement of the index. Capital markets in the region are likely to have the same movement and the effects of contagion (contagion effect) is high (1). During the observation period, October 2015 to March 2016, there was a phenomenon in which IHSG is not always the same and has a correlation with the movement of world stock market indices. It is also supported by the differences found in the results of some previous studies. The purpose of this study was to determine the relationship between stocks bluechip : Astra International Tbk (ASII), Unilever Indonesia Tbk (UNVR), Astra Agro Lestari Tbk (AALI), Bank Rakyat Indonesia Agroniaga (AGRO) and Bank Rakyat Indonesia (BRI ). The analytical method used in this study is Multivariate Time Series, especially Vector Autoregression (VAR). The results of this study with the model produces the best model VAR (2), AGRO = 11.56 - 4.03*ASII(-1) - 4.40*ASII(-2) + 3.76*UNVR(-1) + 1.27*UNVR(-2) + 1.38*AALI(-1) + 2.54*AALI(-2) + 0.73*AGRO(-1) + 0.14*AGRO(-2) + 5.40*BRI(-1) - 1.34*BRI(-2). The value of AIC (Akaike Information Criterion) = 4.47 Keywords: BLUE CHIP, Stock Price, VAR.

Investors will greet Saudi IPOs -- and look to Aramco

2021 ◽  
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Energy Demand ◽  
Public Investment ◽  
Oil Prices ◽  
Investment Fund ◽  
Global Energy ◽  
Content Type ◽  
Regional Projects ◽  
The Capital Market

Significance Investor appetite for Saudi equities has been demonstrated in the huge over-subscription in the IPO of 20% of an internet affiliate of Saudi Telecom Company, which raised almost USD1bn. The Capital Market Authority has also approved Almunajem Foods Company’s request to sell 18 million shares, representing 30% of its capital. Impacts The proceeds of the recent stock market flotations will be used to invest in new domestic and regional projects and acquisitions. The increasingly dominant Public Investment Fund (PIF) would be able to boost its finances through a fresh sale of Aramco shares. Despite the benefits of higher oil prices, there remains a risk that the current surge will damage global energy demand.

What sustainability assurance services do institutional investors demand and what value do they give them?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Isabel-María García-Sánchez ◽  
Beatriz Aibar-Guzmán ◽  
Cristina Aibar-Guzmán
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Institutional Investors ◽  
Institutional Pressures ◽  
Investment Horizon ◽  
Content Type ◽  
Sustainability Disclosure ◽  
Assurance Services ◽  
The Capital Market

Purpose The purpose of this study is to analyse the role played by institutional investors in a firm’s decision to hire sustainability assurance services and to determine the benefits of sustainability assurance for the functioning of the capital market. This analysis is complemented by examining the quality of the sustainability assurance service that institutional investors demand. Design/methodology/approach The authors selected a sample of 1,564 multinational firms from 2002 to 2017. Panel data logit and generalised method of moments (GMM) regressions were estimated to consider decisions about hiring sustainability assurance services or not, and the assurance quality indexes constructed by a checklist based on the academic literature, respectively. Findings Institutional pressures associated with the environmental and social impacts of a firm’s activities lead to the convergence of institutional investor attitudes towards corporate sustainability, so that, regardless of their investment horizon, they promote the hiring of sustainability assurance services by corporate boards, which favours analyst precision and a reduction in the cost of capital. Long-term (LT) institutional investors exert influence through a selection mechanism, whereas short-term (ST) institutional investors exert influence through their presence on the board. Once the company has decided to provide assurance about its sustainability report, both types of institutional investors promote a higher quality of such service, although this is not well valued by the stock market. Research limitations/implications This paper extends research on the monitoring role of institutional investors into the sustainability assurance context. Researchers may benefit from this paper’s findings when they examine the factors that drive the hiring of sustainability assurance services and their characteristics. This paper also shows that sustainability assurance services are a significant weakness due to the lack of standardisation in comparison with financial auditing, which complicates the assessment of their quality by stock market participants, thereby penalising those companies that provide more complete sustainability assurance reports. Practical implications Considering this paper’s findings, it seems advisable that regulators establish a normative framework to standardise sustainability assurance processes. The results can also be used as an orientation for both companies, to design their sustainability disclosure policies and regulators, to improve the running of the capital market. Social implications Sustainability assurance services have a positive effect on the running of the capital market and improve external stakeholder decision-making by providing more reliable information, which, in turn, will favour the implementation of more sustainable actions that contribute to the attainment of sustainable development goals. Originality/value This is one of the first papers to analyse the effect of institutional ownership on a firm’s decision to hire sustainability assurance services and consider the effect of the institutional investors’ investment horizon – LT versus ST – and the channel – selection methods and/or active engagement – used by them to exert their influence. The authors also propose several measures of sustainability assurance quality to demonstrate the relevance of the contents of the assurance statement for the capital market in general and the institutional investors in particular.

scholarly journals The Islamic Stock Market and Macroeconomic Relationship

2021 ◽  
Vol 58 (1) ◽  
pp. 265-275
Author(s):  
Subur Karyatun Et al.
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Interest Rates ◽  
Capital Market ◽  
Stock Prices ◽  
Stock Index ◽  
Macroeconomic Fluctuations ◽  
Macroeconomic Factors ◽  
Industry Sector ◽  
Regression Techniques

This study aims to empirically confirm that macroeconomic factors, namely inflation, the rupiah exchange rate, and BI interest rates can determine the development of sharia stock prices. The sample in this study were listed on the Indonesian Sharia Stock Index (ISSI) in the Consumer Goods Industry sector with a total of 13 companies that met the sampling criteria. The results of the analysis using multiple linear regression techniques, prove that all macroeconomic factors namely inflation, the rupiah exchange rate and the yBI rate had no significant effect on sharia stock prices. The results of this study confirm that the sharia stock market is strong macroeconomic fluctuations even though in a limited period. The implications of this research for investors can be given special attention and consideration in determining sharia investment as an alternative investment in the capital market.

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