Pengaruh Volume Perdagangan dan Retum terhadap Bid-Ask Spread

2007 ◽  
Vol 2 (2) ◽  
pp. 89
Author(s):  
Nico Yopida ◽  
Umi Murtini
Keyword(s):  
Stock Exchange ◽  
Trade Volume ◽  
Informational Asymmetry ◽  
Correction Model ◽  
Order Processing ◽  
Bid Ask Spread ◽  
Holding Cost ◽  
Inventory Holding ◽  
The Relationship

Bid ask spread is afunction of three components which are; order processing, inventory holding, and informational asymmetry. Although holding cost and infurmational asymmetry can not be directly obsertted and needs a specific measurement, these two costs are interesting to be examined. The present paper aims to observe empirical evidences about the relationship between trade and return as a holding cost meaurernent for bid-ask spread. The samples are drawn -fro* companies listed on Jakarta Stock Exchange (JSE and included in rneasurement factors of ILQ-45 fro* January 2004 until December 2004. Using Error Correction Model (ECM), the result shows that the relationship between a trade volume series, return, and bid-ask spread are not either relatively or absolutely having a long-term equilibrium.Keywords : Bid-ask spread, return, statianary, co-integration.

scholarly journals ANALYSIS OF FACTORS AFFECTING THE INDONESIAN SYARIAH STOCK INDEX (ISSI) ON THE INDONESIAN STOCK EXCHANGE (IDX)

2019 ◽  
Vol 8 (2) ◽  
pp. 26
Author(s):  
Siska Angriani Hasibuan ◽  
Armin Rahmansyah
Keyword(s):  
Exchange Rate ◽  
Stock Exchange ◽  
Stock Index ◽  
Variable Amount ◽  
Short Term ◽  
Correction Model ◽  
Factors Affecting ◽  
Independent Variables ◽  
The Relationship

The Indonesian Syariah Stock Index (ISSI) is an indicator that can be used by investors to know the movements of the sharia stock market. This research aims to analyze the effect of the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX). The analysis uses equations by the method of Error Correction Model (ECM). This study analyzed the relationship between the dependent and independent variables in both the short term and long term. Estimation results show that in the long term and the short term, the variable amount of the inflation was a positif and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). The variable amount of the BI rate and exchange rate was a negative and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). These results show that inflation, BI rate and exchange rate was significant in the short term affect the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX).

scholarly journals ANALYSIS OF FACTORS AFFECTING THE INDONESIAN SYARIAH STOCK INDEX (ISSI) ON THE INDONESIAN STOCK EXCHANGE (IDX)

2020 ◽  
Vol 8 (2) ◽  
Author(s):  
Siska Angriani Hasibuan
Keyword(s):  
Exchange Rate ◽  
Stock Exchange ◽  
Stock Index ◽  
Variable Amount ◽  
Short Term ◽  
Correction Model ◽  
Factors Affecting ◽  
Independent Variables ◽  
The Relationship

The Indonesian Syariah Stock Index (ISSI) is an indicator that can be used by investors to know the movements of the sharia stock market. This research aims to analyze the effect of the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX). The analysis uses equations by the method of Error Correction Model (ECM). This study analyzed the relationship between the dependent and independent variables in both the short term and long term. Estimation results show that in the long term and the short term, the variable amount of the inflation was a positif and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). The variable amount of the BI rate and exchange rate was a negative and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). These results show that inflation, BI rate and exchange rate was significant in the short term affect the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX).

scholarly journals IMPLIKASI MARKET VALUE, VARIAN RETURN, LABA PER SAHAM DAN DEVIDEN TERHADAP BID-ASK SPREAD SAHAM SYARIAH

IQTISHODUNA ◽  
2012 ◽  
Author(s):  
Fitriyah Fitriyah
Keyword(s):  
Stock Exchange ◽  
Negative Relationship ◽  
Market Value ◽  
Sampling Technique ◽  
Bid Ask Spread ◽  
Dividend Payments ◽  
Earnings Per Share ◽  
Significant Negative Relationship ◽  
Holding Cost ◽  
Inventory Holding

This research was aimed to determine whether the variables variance return, market value, dividend and earning per share influence the bid-ask spread partially and simultaneously of shares of sharia in Indonesia Stock Exchange. The population in this research are the companies listed in the Jakarta Islamic Index over the period 2007 to 2010. Sampling using a purposive sampling technique and number of sample are 10 companies. The result shows, the variance return, market value, dividend and earning per share simultaneously influence the bid-ask spread. While partially, there ar three variables that significantly influence the bid-ask spread that is variance return with significant positif, dividend, and erningper share with a significant negative relationship. Variable market value does not affect the bid ask spread. Increase in variance return would cause the dealer / broker to cover the high spread. The existence of dividend payments and earnings per share would have an impact on high stock trading so dealers will not take long to save the stock This results in reduced inventory holding cost and ultimately lower the bid ask spread.

scholarly journals THE SPREAD COMPONENT OF THE EXCHANGE RATE: THE INDONESIAN CASE

2007 ◽  
Vol 10 (2) ◽  
Author(s):  
Nevi Danila ◽  
Dwinita Aryani
Keyword(s):  
Exchange Rate ◽  
Adverse Selection ◽  
Opportunity Cost ◽  
Order Processing ◽  
Bid Ask Spread ◽  
Processing Cost ◽  
Holding Cost ◽  
Us Dollar ◽  
Inventory Holding Cost ◽  
Inventory Holding

Paper ini menganalisa perilaku trader yang merupakan isu utama didalam market microstucture, karena perilaku ini dapat mempengaruhi inefisiensi pasar. Perilaku ini menetukan bid-ask spread yang komponennya terdiri dari order-processing cost, adverse selection cost dan inventory holding cost. Dengan mengetahui perilaku trader dalam menentukan spread, kita akan mengetahui perilaku perubahan nilai tukar dalam jangka pendek, dimana hal ini sangat penting bagi pelaku pasar didalam menjalankan bisnisnya.Dengan menggunakan nilai tukar Rupiah terhadap US dollar, diketahui bahwa order processing cost adalah komponen spread yang paling kecil. Hal ini tidak mengejutkan karena pasar valuta asing merupakan pasar yang sangat kompetitif. Sedangkan porsi terbesar dari komponen spread adalah inventory holding cost, hal ini disebabkan karena adanya opportunity cost dan resiko perubahan kurs. Adverse selection cost adalah komponen spread terpenting kedua. Hal ini dikarenakan Bank Indonesia melakukan intervensi secara diam-diam terhadap pasar valuta asing, jika tidak maka trader akan mendapatkan informasi yang sama tentang kebijakan pemerintah atau perilaku dari makro ekonomi sebuah negara.Keywords: Foreign exchange, spread, order-processing cost, adverse selection cost, inventory holding cost.JEL Classification: F31

scholarly journals Environmental Management, Green Innovation, and Social–Open Innovation

2021 ◽  
Vol 7 (1) ◽  
pp. 89
Author(s):  
Pham Thu Huong ◽  
Jacob Cherian ◽  
Nguyen Thi Hien ◽  
Muhammad Safdar Sial ◽  
Sarminah Samad ◽  
...  
Keyword(s):  
Environmental Management ◽  
Stock Exchange ◽  
Advanced Technology ◽  
Green Innovation ◽  
Social Image ◽  
Whole Process ◽  
Corporate Environmental Management ◽  
The Impact ◽  
The Relationship

The present study aims to determine the impact of green innovation (GI) on the overall performance of an organization while keeping the variable of environmental management (EM) as a moderator. We used a dataset consisting of four data years, from 2014 to 2017, of A-share companies listed on the Shanghai Stock Exchange (SSE). The concept of green innovation refers to the use of advancements in technology that enable savings in energy, along with the recycling of waste material. When advanced technology is utilized in the production process, the products are referred to as green products and the whole process of adopting such technologies and product design is referred to as “Corporate Environmental Management”. Such innovations improve the overall financial performance of companies as it enables them to improve their social image by reducing their carbon footprint and ensures their long-term sustainability. The main issue is the limited focus and attention given to the topic, from the perspective of companies. This research focuses on the impact of green innovation and the importance of environmental management for the sustainability of companies. Our findings suggest that the relationship between green innovation and the performance of the company is positive and verifies the existence of moderating effects of environmental management on the relationship between green innovation and firm performance. Implications are given to academia and practitioners.

An Empirical Analysis of the Relationship between Economic Growth and Energy Utilization in China

2013 ◽  
Vol 734-737 ◽  
pp. 1666-1670
Author(s):  
Fei Hu Yang ◽  
Peng Zhang ◽  
Xiao Wei Wang
Keyword(s):  
Economic Growth ◽  
Empirical Analysis ◽  
Energy Utilization ◽  
Correction Model ◽  
Vector Autoregressive ◽  
Integration Test ◽  
Recycling Economy ◽  
The Relationship ◽  
The Empirical Analysis

Based on the co-integration test, error correction model and vector autoregressive model, the empirical analysis results show a long-term co-integration relationship between economic growth and energy utilization in China, energy consumption increased by 1%, GDP will increase by 1.342%. In order to raise the efficiency of energy utilization during China's economic development, suggestions like saving energy conservation, reducing emission and recycling economy have been proposed.

scholarly journals ANALISIS HARGA SAHAM INDEX KOMPAS 100 DENGAN PENDEKATAN ERROR CORRECTION MODEL

2021 ◽  
Vol 4 (1) ◽  
pp. 406-414
Author(s):  
Amir Hamzah
Keyword(s):  
Error Correction ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Financial Statements ◽  
Error Correction Model ◽  
Short Term ◽  
Correction Model ◽  
Positive Effect

The purpose of this research is to analyze the short term and long term relationship between ROI, EPS, PER ,inflation, SBI, exchange rate,and GDP on Stock Price. The data in this research is company financial statements which included Compas 100 Index on the Indonesia Stock Exchange. statistical analysis in this research used stasionarity test, The Classical Assumptions Test, Cointegration Test, Error Correction Model Test. This research found that partially ROI, EPS, PER variables a positive effect on stock prices in the short term and long term, KURS and SBI a positive effect on stock prices in the short term, but there is no effect in the long term, inflation and GDP do not affect the stock price both in the short term and long term. Simultaneously affected the stock prices significantly affect on stock price both in the short term and long term.

scholarly journals The Impact of Oil Prices on the Economy of Vietnam

2015 ◽  
Vol 22 (04) ◽  
pp. 142-159
Author(s):  
Hoa Nguyen Thi Lien ◽  
Trang Tran Thu ◽  
Giang Nguyen Le Ngan
Keyword(s):  
Industrial Production ◽  
Oil Prices ◽  
Test Results ◽  
Macroeconomic Performance ◽  
Price Shocks ◽  
Short Term ◽  
Correction Model ◽  
The Impact ◽  
The Relationship

In this paper we study the relationship between oil prices and macroeconomic performance by investigating the impact of oil price shocks on key macroeconomic variables of Vietnam over the 2001–2012 period. In order to test the relationship between oil prices and the value of industrial production, we use cointegration method to consider the long-term relationship and Error Correction Model (ECM) to ponder the short-term one. The test results show that the price of oil and the value of industrial production in Vietnam are positively correlated in the long term, whereas in the short term the volatility of oil prices in the last two months will negatively affect the fluctuation in the value of the current industrial production.

scholarly journals EMPIRICAL STUDY OF THE EFFECT OF INVESTMENT STRUCTURE ON THE PROFITABILITY OF LISTED COMPANIES IN TEHRAN STOCK EXCHANGE

2019 ◽  
Vol 9 (1) ◽  
pp. 66
Author(s):  
Mandi Salehi ◽  
Hashem Valipour ◽  
Sharham Shanei
Keyword(s):  
Stock Exchange ◽  
Negative Relationship ◽  
Listed Companies ◽  
Investment Structure ◽  
Multivariable Regression ◽  
Statistical Sample ◽  
Table Data ◽  
Multivariable Regression Models ◽  
The Relationship

<p class="Style1">The purpose of this research is the survey of effect of investment structure on the profitability of listed companies in Tehran Stock Exchange (TSE). To do it, selected 100 companies of 13 different industries as the statistical sample and by fitting multivariable regression models with table data, have been surveyed for the relationship between investment structure scales and company's profitability during 6-years period (2002-2007) for sample companies.The results of the research show that there is a positive relationship between short-term debt to assets and company's profitability and also between total debts to total assets and profitability. But there is a negative relationship between long-term debt to assets and profitability.</p><p class="Style9" align="left">Keywords: Investment structure, Profitability, Tableau data</p>

scholarly journals Impact of Capital Structure on Profitability:An empirical analysis of listed firms in India

2018 ◽  
Vol 7 (2) ◽  
pp. 1-6
Author(s):  
Atif Ghayas ◽  
Javaid Akhter
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Short Term ◽  
Return On Equity ◽  
Listed Firms ◽  
Relationship Capital ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

This study aims to empirically examine and analyze the impact of capital structure decision on the firm’s profitability by using a sample of 35 Indian pharmaceutical companies listed on Bombay Stock Exchange (BSE) during the period of 5 years from 2012 to 2016. Regression Analysis is used to measure the extent and nature of the relationship. Capital structure variables used in the study are ratio of long-term debt to total assets (LDA), ratio of short-term debt to total assets (SDA) and ratio of Total debt to total assets (DA) while profitability has been measure by Return on Equity (ROE). Firms Size (SIZE)and Salesgrowth(GROW) are also used as control variables. Results reveal a positive effect of SDA and DA on ROE, while a weak-to-no effect was found of LDA on ROE.

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