scholarly journals ANALISIS FUNDAMENTAL MAKRO DAN INTEGRASI PASAR SAHAM DUNIA DENGAN BURSA EFEK INDONESIA

2017 ◽  
pp. 128
Author(s):  
Luh Gede Sri Artini ◽  
Nyoman Tri Aryati ◽  
Putu Vivi Lestari ◽  
Ni Putu Ayu Darmayanti ◽  
Gede Merta Sudiartha
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Capital Market ◽  
Market Integration ◽  
Stock Index ◽  
South East Asia ◽  
International Capital ◽  
Capital Market Integration ◽  
Positive Effect

This study is a combination of previous studies about a relationship between the stock market with a macro economic performance  and research on the international capital market integration. There is a strong relationship between the stock price with a macro-economic performance, in which the macro economic variables according Tandelilin (2010.343) include Gross Domestic Product (GDP), the growth rate of inflation, interest rates and currency exchange rates. Research on the international capital market integration has been done because of  the domestic capital flows over the country and their potential gains from international diversification. Macroeconomic variables used in this study was limited to GDP growth, inflation, interest rate of Bank Indonesia Certificates ( SBI ) and the value of the US dollar against the rupiah exchange rate,  and stock index that used are Kuala Lumpur Stock Index, Thailand stock index and Singapore.   The objective of this paper are to to analyze the movement of macroeconomic and examine the degree of four stock market integration in South East Asia based on data from 2010 to 2014 with the period of observation January 2010 – December 2014. Analysis model regression multivariable is used to detect economic factor (GDP, inflation, interest rate and exchange rate) and south East Asia stock market (KLCI, STI and  STI) influence toward movement of the Indonesian composite stock market index in Indonesian Capital Market partially and simultaneous.   The results of this research indicate that GDP, inflation, interest rate, exchange rate, KLCI, SETI and  STI have significant effect on the IHSG. Based on the test results the coefficient of determination, the value of the Adjusted R Square of 96,9 % while the remaining 3,1 % is influence by other variables not included in this research.  Partially  GDP, Inflation and STI have insignificant positive effect on IHSG, interest rate have significant negative effect on IHSG. While KLCI and SETI have significant positive effect

Using chaos measures to examine international capital market integration

1996 ◽  
Vol 6 (2) ◽  
pp. 91-101 ◽  
Author(s):  
Susan P. Sewell ◽  
Stanley R. Stansell ◽  
Insup Lee ◽  
Scott D. Below
Keyword(s):  
Capital Market ◽  
Market Integration ◽  
International Capital ◽  
International Capital Market ◽  
Capital Market Integration

scholarly journals A STUDY OF INDONESIA’S STOCK MARKET

2019 ◽  
pp. 465-476 ◽  
Author(s):  
Dinh Hoang Bach Phan ◽  
Thi Thao Nguyen Nguyen
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Least Squares ◽  
Generalized Least Squares ◽  
Stock Index ◽  
Monthly Data ◽  
Generalized Least Squares Estimator ◽  
The Interest Rate ◽  
Stock Index Returns

Using monthly data from January 1995 to December 2017, this paper tests whetherIndonesian stock index returns are predictable. In particular, we use eight macrovariables to predict the Indonesian composite and six sectoral index returns using thefeasible generalized least squares estimator. Our results suggest that the Indonesianstock index returns are predictable. However, the predictability depends not only onthe macro predictor used but also on the indexes examined. Second, we find that themost popular predictor is the exchange rate, followed by the interest rate. Finally, ourmain findings hold for a number of robustness tests.

scholarly journals DETERMINAN TINGKAT SUKU BUNGA, INDEKS DOW JONES, NIKKEI 225, DAN STRAITS TIME TERHADAP ISSI

El Dinar ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 32
Author(s):  
Febrian Wahyu Wibowo
Keyword(s):  
Interest Rate ◽  
Capital Market ◽  
Supervisory Board ◽  
Stock Index ◽  
Market Index ◽  
Negative Effect ◽  
Positive Effect ◽  
The Capital Market

<p><em>Islamic financing is a kind of investment that has system and operational based on sharia principles. Islamic financing is supervised by the Sharia Supervisory Board (DPS). This is to safeguard that there are no commercial involved such as gambling, usury, and prohibitedproducts. The indexfluctuation in the capital market of a country is influenced by world capital market indices. The first Islamic index in world is the Dow Jones Islamic Market Index (DJIM). Based on the discussion about the influence of Interest Rate variables, Dow Jones Islamic Market, Nikkei 225 Index, and Straits Times Index on the Indonesian Sharia Stock Index variable for June 2012 until March 2017  the conclusions are as follows: Interest Rate has a negative effect on the Indonesian Sharia Stock Index, Dow Jones Islamic Market has a positive effect on the Indonesian Sharia Stock Index, the Nikkei 225 has a negative effect on the Indonesian Sharia Stock Index, the Straits Times negatively affects the Indonesian Sharia Stock Index</em></p>

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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