scholarly journals Islamic Capital Market Reaction on Presidential Election 2019 (Case Study of the Jakarta Islamic Index)

2020 ◽  
Vol 3 (2) ◽  
pp. 105
Author(s):  
Syintia Dwi Utami ◽  
Abdul Qoyum
Keyword(s):  
Capital Market ◽  
Trading Volume ◽  
Economic Condition ◽  
Market Reaction ◽  
General Election ◽  
Market Condition ◽  
Test Analysis ◽  
Policy Makers ◽  
Political Issues ◽  
The Impact

General Election (GE) is one of the most important political issues which has an impact on the economic condition. This research aims to reveal the effect of General Election 2019 on the capital market reaction. Specifically, the study compares the impact of three events in the GE 2019, namely, The General Election 2019, the announcement of Elected President 2019, and Mahkamah Konstitusi (MK) decision. By employing Abnormal Return with t-test analysis, the study reveals that the publication of the elected-president has the most significant impact on the Islamic Capital Market compares to the two other events. While using Trading Volume Activity (TVA), all the three events of GE 2019 affects the TVA. This finding suggests that for the Islamic capital market investor, the announcement of the elected president is seen as the most significant event that determines the whole of economic condition for the next five years. Hence, for the policy-makers, they must focus on the date of the announcement by preparing such a policy to maintain the market condition.   

The Mirror of Malaysia Real Estate Investment Trust Stock Return in the Short-Run Dynamics

2021 ◽  
Vol 12 (3) ◽  
pp. 547-562
Author(s):  
William Choo Keng Soon Et.al
Keyword(s):  
Real Estate ◽  
Crude Oil ◽  
Capital Market ◽  
Stock Price ◽  
Trading Volume ◽  
Stock Return ◽  
Financial System ◽  
Empirical Finding ◽  
Short Run ◽  
The Impact

The formation of Islamic capital market under the subcomponent of Islamic financial system scratch a milestones development of Islamic finance in Malaysia. The Islamic capital market operates in mirror with convention capital market in expending, deepening and broadening Malaysia financial system. Malaysia is one of the REIT markets that value both the Islamic and conventional practices, such flexibility makes the attract not only to the local investor but also Islamic investors and foreign investor. The major source that generates income for REIT is the rental of the commercial real estate invested and hold as portfolio by the REIT management company. Furthermore, Malaysia REIT is known to be defensive stocks which consist of cyclic income producing assets that has some potential of asset appreciation. On the other hand, it witnessed by the moderation of Malaysia government bond yields created a lower pressure on the REIT stock price and analyst’s report highlighted the uncertainties on global crude oil prices and inflation is main concerned to REIT investors. In addition, the revision of 2019 tax system in Malaysia furnished a long run affected the dividend payout and volatility of REIT stock price. Therefore, this impact on the REIT stock liquidity and trading volume experiencing anil liquid trading. Therefore, the impact of external forces towards the mirror of two type of Malaysia REITs is significant to the investors, policy makers and government to outline the short-run relationship and facilitate future growth. The Vector auto regression model, granger causality and variance decomposition employed in this study to analyze the mirror of two types Malaysia REIT stock return. The empirical finding shows that the variability of dividend yield is vital explanatory variables to explain the both type of REIT stock return in Malaysia followed by interest rate for Islamic REIT stock return. The mirror of conventional REIT further implicated that trading volume and global crude oil price are useful to forecasting the changes in the stock return. Nutshell, this study provides a discussion of Malaysia REIT stock return behavior and it should be given necessary attention by researchers in ensuring the newly develop Islamic REIT are competitive and stability as the conventional REIT.

scholarly journals DAMPAK PANDEMI COVID-19 TERHADAP AKTIVITAS PERPAJAKAN (PENGGUNAAN LAYANAN DARING, INTENSITAS LAYANAN ADMINISTRASI PAJAK, & PERILAKU KEPATUHAN PAJAK)

Scientax ◽  
2021 ◽  
Vol 2 (2) ◽  
pp. 160-178
Author(s):  
Ryan Agatha Nanda Widiiswa ◽  
Hendy Prihambudi ◽  
Ahmad Kosasih
Keyword(s):  
Quantitative Research ◽  
T Test ◽  
Test Analysis ◽  
Tax System ◽  
Policy Makers ◽  
Business World ◽  
The Third ◽  
The Impact

The COVID-19 pandemic, which began at the end of 2019, has globally changed so many aspects.  The decline in people's consumption levels, the increase in unemployment, uncertainty for the business world, and changes in people's behaviour towards digital caused disruption for the Indonesian tax system. This study tries to look at the impact caused by the COVID-19 pandemic on taxation activities in Indonesia. Such activities will be seen from the quantity of tax service administration, the use of digital by taxpayers, and taxpayer’s compliance report. The study took the period until the third quarter (September) 2020 and then it was compared with the circumstances in 2019 (January-September). This research is quantitative research by applying descriptive statistic methods as well as t-test analysis. This research is expected to provide an overview to the policy makers in understanding the changes resulting from the COVID-19 pandemic to the taxation activities in Indonesia.

scholarly journals INTEREST RATE REGIME AND THE PERFORMANCE OF THE NIGERIAN CAPITAL MARKET

2015 ◽  
Author(s):  
Edirin Jeroh ◽  
C. M. Ekwueme
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Capital Market ◽  
Stock Exchange ◽  
Least Square ◽  
Policy Makers ◽  
Ordinary Least Square ◽  
Policy Review ◽  
Policy Measures ◽  
The Impact

This study x-ray’s the interest rates regime in Nigeria as it affects the performance of the Nigerian Capital Market. In order to achieve this objective, relevant data for a period of 33 years spanning from 1981 – 2013 were obtained from the Factbook of the Nigerian Stock Exchange, CBN Statistical Bulletin as well as the annual accounts of quoted firms for the relevant years. The data obtained were analysed with the Ordinary Least Square (OLS) technique. The result from our analysis reveal among others that changes in interest rate regimes have majorly influenced the level of the performance of the Nigerian Capital Market. Based on the above, we recommend that capital market regulators and other regulatory agencies should keep an eye on movements in interest rates and the Minimum Rediscount Rate (MRR) (now MPR) and watch their trend. We also recommend that efforts must be put in place to establish a policy review and reassessment mechanism that would help in assessing the impact of selected policy measures on the economy so that policy makers would know the effectiveness and efficiency of designed policies and be guided in the policy review and development process in the country.

IMPACT OF CAPITAL MARKET REFORMS ON ECONOMIC GROWTH: The Nigerian Experience

2012 ◽  
Vol 02 (02) ◽  
pp. 20-30
Author(s):  
OKE MICHAEL OJO ◽  
ADEUSI S.O.
Keyword(s):  
Economic Growth ◽  
Capital Market ◽  
Stock Exchange ◽  
Secondary Data ◽  
Least Square Method ◽  
Least Square ◽  
Market Reforms ◽  
Political Issues ◽  
The World ◽  
The Impact

This study examines the impact of capital market reforms on the Nigerian economic growth between 1981 and 2010. The prevailing challenges in the World financial markets; especially the capital market justifies the various forms of reforms going on around the World. The ordinary least square method of regression and the Johansen co-integration analysis were employed to analyse the secondary data sourced from the Central Bank of Nigeria statistical bulletin, the Nigeria Stock Exchange Fact book and the Nigeria Security and Exchange Commission Reports. The results show that capital reforms positively impact the economic growth. The study recommends among others that government should objectively evaluate enacted laws and reforms agenda in a manner that will enhance economic growth rather than considering political issues before embarking on reforms.

Seller activity in a virtual marketplace

First Monday ◽  
2010 ◽  
Author(s):  
David A. Huffaker ◽  
Matthew Simmons ◽  
Eytan Bakshy ◽  
Lada A. Adamic
Keyword(s):  
Market Segmentation ◽  
Second Life ◽  
Virtual World ◽  
Trading Volume ◽  
Descriptive Study ◽  
Log Analysis ◽  
Policy Makers ◽  
Geographic Concentration ◽  
3D Virtual World ◽  
The Impact

As virtual goods continue to proliferate in online worlds, understanding their production, consumption and distribution remains exciting for scholars, technology companies and policy makers alike. We present a descriptive study of the activities of successful sellers in Second Life, a 3D virtual world that allows users to create their content and even to make money by selling it to other users. We combine user log analysis, network analysis and content analysis to examine cycles in trading volume, market segmentation and specialization, geographic concentration and the impact of social capital on economic success, revealing important insights regarding virtual markets, as well as differences between the very top sellers and those making a more modest income.

scholarly journals Dampak Pengumuman Hasil Pemilu Presiden Republik Indonesia Tahun 2019 Terhadap Saham Indeks Idx30

2020 ◽  
Vol 4 (1) ◽  
pp. 96-102
Author(s):  
Sarah Usman ◽  
Devid Anggra Kurnia ◽  
Dirarini Sudarwadi
Keyword(s):  
Trading Volume ◽  
Vice President ◽  
Statistical Testing ◽  
Rank Test ◽  
Volume Activity ◽  
Test Analysis ◽  
Political Event ◽  
Signed Rank ◽  
Before And After ◽  
The Impact

This research examines the impact of the President and vice-Presidential 2019-2024 period election results against shares in the IDX30 index. The research aims to see the difference in the average trading volume activity shares between before and after the announcement. This research uses quantitative approaches with a comparative problem. The sample are all company shares included in the IDX30, actively traded and do not take corporate action at the time before and after the announcement of the President and Vice President. This research will compare the average trading volume acivity between before and after the announcement of the recapitulation results. Statistical testing is the Kolmogorov-Smirnov test, followed by a different test, the Paired Sample T-Test analysis test, the Wilcoxon Signed Rank analysis test. The result of the Wilcoxon signed rank test is 0.01 <0.05, which means the different trading volume activity is significant, the average is decrease. Investors are expected to consider buying shares after the announcement. This means that political events, namely the announcement of the recapitulation of the election of President and Vice President for the 2019-2024 period, affect the trading volume activity in the IDX30 index. For this reason, investors may consider buying shares after the announcement. Keywords: Political Event, Trading Volume Activity

scholarly journals Management discussion and analysis, corporate governance perception index and market reaction

2017 ◽  
Vol 14 (4) ◽  
pp. 165-175
Author(s):  
Lindrianasari Lindrianasari ◽  
Sondang Berliana Gultom ◽  
Liza Alvia
Keyword(s):  
Corporate Governance ◽  
Stock Returns ◽  
Capital Market ◽  
Trading Volume ◽  
Market Reaction ◽  
Stock Exchange ◽  
Volume Activity ◽  
Stock Trading ◽  
Market Participants ◽  
Investor Reaction

This research generally aims to provide empirical evidence on investor reaction to the disclosure of Management’s Discussion and Analysis of the companies listed on the Indonesia Stock Exchange in the period of 2011-2013. The motivation of this study is that there is no study in Indonesia concerning the presentation of the Management’s Discussion and Analysis that affect investors’ decision to invest in an enterprise, which is illustrated by the market reaction to stock returns and trading volume activity. There are 827 samples in this study in the period of 2011-2013. This study found that Indonesian capital market is responding to the disclosure of Management’s Discussion and Analysis provided by the company. The more complete disclosure of the information in the Management’s Discussion and Analysis, the better the market response. Corporate Governance Perception Index also responded positively and significantly to the stock trading volume. These findings indicate that the disclosure of information contained in Management’s Discussion and Analysis and Corporate Governance Perception Index utilised for market participants in Indonesia in decision-making.

scholarly journals The Impact of Tax Amnesty Announcement towards Share Performance and Market Reaction in Indonesia

2018 ◽  
Vol 7 (2) ◽  
pp. 39
Author(s):  
Lidya Agustina ◽  
Yuliana Gunawan ◽  
Windawaty Chandra
Keyword(s):  
Stock Returns ◽  
Stock Prices ◽  
Trading Volume ◽  
Stock Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Test Method ◽  
Tax Amnesty ◽  
The Impact

The Indonesian Government reviewed back the tax amnesty in 2016. Various reactions came up along with the announcement of tax amnesty, the investors did not accept- which led to the announcement of the Tax Forgiveness regulation through the market reactions and stock market performances in Indonesia Stock Exchange. This research is to analyze event study using information based on government-related announcements to show the impact of the new regulation towards stock performance and market reaction. The effect of the announcement will be seen from the changes in stock-prices or stock-returns that provide abnormal returns in the event period as well as market reaction which reflected in trading volume. This research used stock-return data and trading volume from all companies listed in IDX in 2016 and analyzed using the Paired Sample T-Test method. The result of this research shows there are differences among the average of stock-return, average abnormal-return of stock, and stock trading volume before and after the tax amnesty announcement.

scholarly journals Financial Liquidity as a Factor Determining the Economic Condition of Companies on the Capital Market in Relation to Bankruptcy Law in Poland

e-Finanse ◽  
2019 ◽  
Vol 15 (1) ◽  
pp. 1-9
Author(s):  
Monika Bolek ◽  
Agata Gniadkowska-Szymańska
Keyword(s):  
Capital Market ◽  
Economic Condition ◽  
Quadratic Functions ◽  
Bankruptcy Law ◽  
Economic Entity ◽  
Earnings Per Share ◽  
Financial Liquidity ◽  
The Impact ◽  
A Company ◽  
The Capital Market

AbstractThe aim of this article is to present financial liquidity as a factor affecting the economic condition of the companies on the capital market in relation to the amended Bankruptcy Law in Poland. A study was carried out to determine the impact of liquidity on the increase in earnings per share and return on assets, indicators can be used to assess the economic condition of a company. As a result, logit and quadratic functions were examined and the parameters of the models provided a verification of the hypothesis. As a result, it was found that the good economic situation of a company related to the increase in earnings per share and profitability is affected by the increasing cash efficiency of assets and the decreasing value of the current ratio. It can therefore be concluded that according to theory, conducting a more aggressive policy in the area of liquidity results in an increase in the value of an economic entity and, therefore, its good economic condition, but the effect of overly aggressive policies may influence solvency, which is defined by Bankruptcy Law.

Investor confidence and life insurance demand: can economic condition limit life insurance business?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Danish Ahmed ◽  
Yuantao Xie ◽  
Khelfaoui Issam
Keyword(s):  
Life Insurance ◽  
Sovereign Debt ◽  
Economic Condition ◽  
Market Condition ◽  
Insurance Demand ◽  
Policy Makers ◽  
Content Type ◽  
Investor Confidence ◽  
Confidence Levels ◽  
Life Insurance Demand

PurposeLife insurance is bought with a prior belief that promise stipulated in policy will be honored when due. Discernibly, this belief is backed by the confidence that financial markets and economy will demonstrate satisfactory performance. However, individuals' confidence levels may get shaken through naïve reinforcement learning if they witness negative market or economic condition. Considering this the authors investigate the relationship between investor confidence and life insurance demand.Design/methodology/approachThe authors used bias corrected bootstrapped sample of OECD economies to examine the link between investor confidence and life insurance demand when two possible economic conditions were witnessed: 1) normal/economic expansion and 2) economic/debt impairment. The findings are robust to alternate estimation techniques and endogeneity.FindingsThe authors found that lower investor confidence, sovereign debt impairment and negative market condition will have negative repercussion on life insurance demand. On the other hand, investor confidence-life insurance demand nexus is merely influenced by market and economic condition.Originality/valueThis is a premier research explaining the nexus between investor confidence and life insurance demand in the context of life-cycle hypothesis, sovereign ratings channel and experience-confidence-belief framework. The finding will help economic policy-makers in developing pre-emptive measures to protect life insurance businesses from negative repercussions of lower confidence and negative market conditions.

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