scholarly journals FLUKTUASI SAHAM SYARIAH DI INDONESIA SAAT PANDEMI COVID-19 AKIBAT PERUBAHAN VARIABEL MAKROEKONOMI: ANALISIS PADA SUB SEKTOR HOTEL, RESTAURANT DAN PARIWISATA

2021 ◽  
Vol 8 (4) ◽  
pp. 384
Author(s):  
Naji Hatul Mutohharo ◽  
Putri Nurhayati
Keyword(s):  
Exchange Rate ◽  
Stock Price ◽  
Partial Least Square ◽  
Least Square ◽  
Oil Price ◽  
Stock Index ◽  
Jones Index ◽  
Market Index ◽  
Tourism Sector ◽  
The Impact

ABSTRAKPandemi COVID-19 merebak dengan cepat keseluruh negara di dunia menimbulkan banyak dampak termasuk dalam bidang perekonomian. Adanya kebijakan-kebijakan khusus untuk mencegah penyebaran virus, seperti pembatasan mobilisasi dan kegiatan public memberikan dampak yang cukup masif, termasuk pada bidang pariwisata. Penelitian ini bertujuan untuk melihat pengaruh beberapa variabel makro, berupa nilai tukar, IHSG, Dow Jones Index (DJI), Dow Jones Islamic Market Index (DJIMI), dan harga minyak dunia terhadap fluktuasi harga saham perusahaan sub sektor hotel, restoran, dan pariwisata yang terdaftar dalam Indeks Saham Syariah Indonesia. Menggunakan metode Partial Least Square (PLS), menunjukkan hasil sepanjang 2 Maret hingga 30 September 2020, nilai tukar dan IHSG berpengaruh positif signifikan terhadap harga saham, sedangkan harga minyak berpengaruh tidak signifikan. DJI berpengaruh negatif tidak signifikan terhadap harga saham sedangkan DJIMI berpengaruh negatif signifikan. Sepanjang pandemi dapat dimungkinkan banyak variabel makro maupun mikro yang mengalami goncangan dan turut memberi pengaruh terhadap harga saham pada sub sektor hotel, restaurant dan pariwisata.Kata Kunci: Dow Jones Index, Dow Jones Islamic Market Index, Harga Minyak, IHSG, Nilai Tukar. ABSTRACTThe COVID-19 pandemic, which spreads rapidly around the world, has raised many impacts, including in economic sector. There are particular policies to prevent the spreading of COVID-19 virus, such as restrictions of mobilization and public activities which give some massive impacts, including the tourism sector. This study aims to see the impact of several macroeconomic variables, those are exchange rate, IHSG, Dow Jones Index (DJI), Dow Jones Islamic Market Index (DJIMI), and world oil price, due stock price fluctuations in the hotel, restaurant and tourism sub-sector companies listed on Indonesia Sharia Stock Index. Using Partial Least Square (PLS) method, it shows the results from March 2 to September 30 2020, exchange rate and IHSG have positive significant effect on stock price, while oil price has no significant effect. DJI has a negative and insignificant effect on stock price, while DJIMI has a negative significant effect. Through this pandemic, there are many macro or micro variables may experience shocks and give some contribution to the effect of sharia stock price in the hotel, restaurant and tourism sub-sector.Keywords: Dow Jones Index, Dow Jones Islamic Market Index, Exchange Rate, IHSG, Oil Price.

Analisis Pengaruh Inflasi, Nilai Tukar Rupiah, dan BI-Rate terhadap Harga Indeks Saham Syariah Indonesia

2021 ◽  
Vol 4 (2) ◽  
pp. 47-56
Author(s):  
Fifi Afiyanti Tripuspitorini
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Partial Least Square ◽  
Least Square ◽  
Stock Index ◽  
Macroeconomic Factors ◽  
Negative Effect ◽  
Monthly Period

Islamic investment is experiencing an upward trend from year to year. Many investors are starting to look at Islamic stocks. One of the Islamic stocks in Indonesia is the Indonesian Sharia Stock Index (ISSI). Investors must have many careful considerations to invest. One of the factors that may influence stock prices is macroeconomic factors. This study aims to determine how macroeconomic variables in the form of inflation, the rupiah exchange rate against the dollar, and Bank Indonesia interest rates can affect the ISSI stock price. This study uses a quantitative data approach. The data is obtained from the Sharia Stock Index (ISSI) in the monthly period January 2016 to December 2018.Meanwhile, data analysis used Partial Least Square (PLS) with the help of WarpPLS. The results showed that inflation and the rupiah exchange rate had no effect on the ISSI stock price. while the BI rate has a significant negative effect on the ISSI stock price.

scholarly journals Determinasi Faktor Fundamental Makroekonomi dan Indeks Harga Saham Syariah Internasional terhadap Indeks Harga Saham Syariah Indonesia

2019 ◽  
Vol 14 (1) ◽  
pp. 1-15
Author(s):  
Yudhistira Ardana ◽  
Siska Maya
Keyword(s):  
Exchange Rate ◽  
Oil Price ◽  
Stock Index ◽  
Short Term ◽  
Correction Model ◽  
Macroeconomic Conditions ◽  
Market Index ◽  
The World ◽  
The Impact

The capital market is a source of fresh funds in the long and short-term. The existing of the institution is not only a source of funding but also as an investment facility. This study aims to measure the impact of macroeconomic conditions (BI Rate, Exchange Rate and World Oil Prices) and the international Sharia stock index (Dow Jones Islamic Market Index Japan and Dow Jones Islamic Market Index US) on the Indonesian Sharia Stock Index with using the error correction model (ECM). The results showed that BI rate and DJIM US have the significant effect (5%) on Indonesian Sharia Stock Index in the short, while the exchange rate and DJIM Japan are significant at the 10%, and the world oil price is not significant. In the long-term, BI Rate, exchange rate, DJIM US and DJIM Japan have a significant effect, while the world oil price has not a significant effect.

scholarly journals Towards Achieving Sustainability in Financial Market: The Impact of Covid-19, Oil Price, Stock Price on Exchange Rate Volatility in Indonesia

2021 ◽  
Vol 11 (5) ◽  
Author(s):  
Mohd Shahidan Shaari ◽  
Rossanto Dwi Handoyo ◽  
Syekha Maulana Ilyas ◽  
Abdul Rahim Ridzuan ◽  
Nur Azirah Zahida Mohamad Azhar
Keyword(s):  
Exchange Rate ◽  
Financial Market ◽  
Stock Price ◽  
Exchange Rate Volatility ◽  
Oil Price ◽  
The Impact

scholarly journals Further Evidence on Asymmetry in the Impact of Oil Price on Exchange Rate and Stock Price in China using Daily Data

2021 ◽  
Vol 13 (5) ◽  
pp. 83
Author(s):  
Nazeer Ahmed ◽  
Ma Dingchou ◽  
Abdul Qayyum
Keyword(s):  
Exchange Rate ◽  
Stock Price ◽  
Structural Breaks ◽  
Oil Price ◽  
Nonlinear Ardl ◽  
Daily Data ◽  
The Us ◽  
Short Run ◽  
Us Dollar ◽  
The Impact

The role of oil price on the macro-economy has been intensely researched. However, oil remains one of the most important energy sources for production. Concerning China, there are projections that the country’s energy consumption would have risen to 18 billion barrels per day in the next two decades. Given China’s heavy reliance on oil, we reexamine the impact of oil price on the US dollar-Renminbi rate and the Shanghai index using daily data from 4/01/2010 to 29/03/2021. In our analysis, we apply the Nonlinear ARDL technique in the presence of structural breaks and find that oil price has asymmetric impact on exchange rate and stock price in the short-run alone. However, the asymmetry is only in terms of magnitude and not in terms of effect direction. Oil price is found to appreciate the Renminbi vis-à-vis the US dollar and to increase stock price significantly both in the short-run. We find that accounting for structural breaks is necessary for cointegration in using oil price to explain both variables.

scholarly journals Bubble Detection and the Impact of Monetary Policy, Market Sentiment and Market Liquidity on Property Stock Price Index in Indonesia

2021 ◽  
Vol 9 (8) ◽  
pp. 75-86
Author(s):  
Sunita Dasman
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Market Liquidity ◽  
Stock Index ◽  
Market Sentiment ◽  
Stock Price Index ◽  
The Impact

The purpose of this study is to detect the existence of a bubble stock and analyze the impact of monetary policy, market sentiment and liquidity on the property stock index in the Indonesian capital market. The data used in this study is secondary data originating from various sources for the period 2016 – 2020 using multiple linear regressions. The bubble stock detection is done by using the ratio between the property stock price index and the consumer nutrient index. The results showed that there was an indication of a moderate bubble stock in the property stock index during the research period 2016 – 2020. The factors that impacted the property stock price index were interest rates, the rupiah exchange rate against the US dollar, market sentiment and market liquidity. The increase in interest rates, the rupiah exchange rate, and market sentiment and liquidity has an impact on the increase in the property stock price index on the Indonesian stock exchange for the 2016 – 2020 periods. Keywords: Bubble Stock, Exchange Rate, Interest Rate, Inflation, Market Sentiment, Market Liquidity

The Impact of Crude Price and Exchange Rate Toward Stock Price of Oil Company

2015 ◽  
Vol 21 (4) ◽  
pp. 792-794
Author(s):  
Syelvi Cahyadi ◽  
Togar Alam Napitupulu
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Stock Price ◽  
Oil Industry ◽  
Oil Price ◽  
Crude Oil Price ◽  
Tax Rate ◽  
Exploratory Stage ◽  
The Impact ◽  
Oil Company

Predicting the stock price in oil industry is considered very important because oil industry is a heavily capital intensive industry that require substantial amount of capital not only to operate, but including in the exploratory stage. For this reason, it is important to know what would be the factors that affect such price. The objective of the study then is to find such factor or variables, while it is significantly related to the stock price, it also have to be easily acquired. We begun by presuming that crude oil price and exchange rate–tax rate were of such factors. The results indicated indeed crude oil price positively affects stock price with a magnitude of 14.85 points. Similarly, exchange rata also positively affecting stock price with magnitude of 0.27 points. As such it is they are important factors to consider in predicting stock price of the Oil Company and hence important indicators for investors to be considered in making decision to buy or not to buy.

Oil price, exchange rate and stock price in Nigeria: Fresh insights based on quantile ARDL model

2021 ◽  
pp. 59-79
Author(s):  
Emmanuel Uche ◽  
Lionel Effiom
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Spillover Effects ◽  
Oil Price ◽  
Ardl Model ◽  
Conditional Mean ◽  
Pass Through ◽  
The Impact

The pass-through of oil price to various macroeconomic aggregates, including the exchange rates and stock prices have been vigorously studied in the past albeit varying submissions. More so, these studies considered the relationship only within the conditional mean. To pro-vide fresh insights about the heterogeneous impacts, this study re-examines the dynamic pass-through of international oil prices to exchange rates and stock prices in Nigeria using the Quantile ARDL model. The quantile ARDL accounts for locational asymmetries among varia-bles. Findings indicate that the spillover effects of oil price shocks on both the exchange rate and stock prices in Nigeria are heterogeneous and differ significantly across the quantile dis-tributions of the foreign exchange and stock markets. The impact increases over time with greater impacts recorded at quantiles below the median. On this background, specific policies targeting the peculiar effects at each quantile of exchange rate and stock prices will ensure op-timal performance leading to higher returns to investors and market practitioners.

Relationship Between Oil Price Movements and Stock Returns of Oil Firms in Oil Importing Economies

2020 ◽  
pp. 097215092091701
Author(s):  
Silky Vigg Kushwah ◽  
Areej Aftab Siddiqui
Keyword(s):  
Interest Rates ◽  
Stock Returns ◽  
Positive Impact ◽  
Strong Relationship ◽  
Oil Price ◽  
Stock Index ◽  
Stock Market Index ◽  
Market Index ◽  
Oil Sector ◽  
The Impact

This article investigates the impact of oil price shocks on the stock returns of companies of the oil sector in oil-importing economies. The study considers oil stocks of top five oil-importing economies, that is, India, USA, China, Japan and Korea from 2007–2019. The oil price is considered as the independent variable, whereas the oil sector stock index return is considered as dependent variable. Based on the existing literature, some control variables like stock index return, inflation, interest rates, gross domestic product (GDP) and dummy for US-China trade war are included. Empirical evidence from the returns of oil sector stock index indicates that there is a significant and positive relationship between oil prices and oil sector’s stock returns. The result also highlights a strong relationship between stock market index and oil sector stock index. GDP of the country also leads to a positive impact on returns of oil stocks, although there is no significant impact of interest rates and inflation on the returns of oil stocks.

ANALYSIS THE IMPACT OF THE IMPLEMENTATION OF QUALITY MANAGEMENT SYSTEM (QMS) AND SAFETY AND HEALTHY AT WORK MANAGEMENT SYSTEM (SHWMS / SMK3) ON THE JOB PERFORMANCE OF EMPLOYEES

2018 ◽  
Vol 3 (01) ◽  
pp. 45
Author(s):  
Nur Hidayat ◽  
Indah Kusuma Hayati
Keyword(s):  
Quality Management ◽  
Job Performance ◽  
Latent Variables ◽  
Management System ◽  
Quality Management System ◽  
Partial Least Square ◽  
Least Square ◽  
Global Challenges ◽  
The Impact ◽  
Work Management

Recently, the evolvement of globalization era has been the global challenges that cannot be avoided either by private or government sectors, and they are requested to be survived encountering such the condition. The implementation of Quality Management System (QMS) in the operational company is the way how to guarantee the quality of products or services offered to the people. One of the purposes of QMS implementation is to provide a prime satisfaction to the customers. The impact of QMS implementation is expected to increase job performance of the employees. Besides the implementation of Quality Management System (QMS), the impact of global challenges has been increasing the competitive efforts to execute more effective production process. However, it has required manpower protection accordingly. This research aims to find out whether the implementation of quality management system and safety and healthy at work management system have impacted on the job performance of employees. Objects of this research are the employees in the production department at PT Guna Senaputra Sejahtera Plant 1 Bogor. Data analysis technique of this research has applied software Smart PLS (Partial Least Square). PLS has estimated a model of correlation among the latent variables and correlation between latent variables and its indicators. Result of data processing has indicated that the implementation of Quality Management System (QMS) and system of safety and healthy at work have positively and significantly impacted job performance of employees.Keywords : Quality Management System (QMS), Safety and Healthy at Work System ( SHWS / SMK3), and Job Performance of Employees

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

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