scholarly journals The Study on the Effects of Agricultural Policies to the Stock Price of Agricultural Companies of China

2017 ◽  
Vol 1 (1) ◽  
pp. 22
Author(s):  
Xilong Pan ◽  
Qi Wang ◽  
Yinchuan Huang
Keyword(s):  
Empirical Study ◽  
Stock Price ◽  
Stock Return ◽  
Intervention Analysis ◽  
Agricultural Policies ◽  
Intervention Model ◽  
Analysis Model ◽  
Land Transfer ◽  
Transfer Index ◽  
The Impact

This paper attempts to use the intervention analysis model to study the impact of the release of the central Number 1 Documents on the stock price fluctuation of listed agricultural companies in China, and get the intervention value of the policy event on the stock return rate while separating the influence of the policy event. The results of the empirical study on the data of the study showed that the effect of the intervention on the results of the intervention was based on the publication of the “Number 1 Documents" in 2012 ~ 2013 as the intervention event. The results of the empirical study on the significance of biological breeding index and land transfer index (data from 2013) Intervention model, is consistent with the interpretation of the “Number 1 Documents”.

scholarly journals Analisis Intervesi Fungsi Step Efek Program Tol-Laut Terhadap Pergerakan Harga Saham TMAS.JK

2019 ◽  
Vol 5 (01) ◽  
pp. 47-54
Author(s):  
Wigid Hariadi
Keyword(s):  
Time Series ◽  
Stock Price ◽  
Time Series Data ◽  
Vice President ◽  
Step Function ◽  
Series Data ◽  
Intervention Analysis ◽  
Analysis Model ◽  
External Events ◽  
Port Construction

Abstract. Intervention analysis is used to evaluate the effect of external events on a time series data. Sea-highway program is one of the leading programs Joko Widodo-Jusuf Kalla in presidential election 2014. So the author want to modeling the effect from Sea-highway programs on stock price movement in the shipping sector, TMAS.JK (Pelayaran Tempuran Emas tbk). After analyzing, proven that it has happened intervention on movement of daily stock price TMAS.JK caused by Sea-highway programs. Intervention I, on 11 August 2014, which was efect as a result of the election of the Joko Widodo-Jusuf kalla pair as President and vice President Republic of Indonesia on 22 july 2014. Intervention II, on 10 november 2014, president Joko Widodo speech in APEC about Sea-highway Program, and offering investment in port construction to foreign country. So that the model of time series analysis that right is intervention analysis model multi input step function, where the model is ARIMA (2,1,0), StepI (b=0, s=2, r=1), StepII (b=3, s=0, r=1).  Keywords: Intervention Analysis, Multi Input, Step Function, Sea-highway.    Abstrak. Analisis intervensi digunakan untuk mengevaluasi efek dari peristiwa eksternal pada suatu data time series. Program Tol-Laut merupakan salah satu program unggulan pasangan Joko Widodo-Jusuf Kalla dalam pemilu 2014. sehingga, penulis ingin memodelkan efek dari Program Tol-Laut terhadap pergerakan harga saham dibidang pelayaran, TMAS.JK (Pelayaran Tempuran Emas tbk). Setelah dilakukan analisis data, terbukti bahwa terjadi intervensi pada pergerakan harga saham harian TMAS.JK yang disebabkan oleh efek dari program Tol-Laut. Dimana intervensi I, pada tanggal 11 Agustus 2014, yang diduga sebagai dampak dari terpilihnya pasangan Joko widodo-Jusuf Kalla sebagai presiden dan wakil presiden Republik Indonesia pada tanggal 22 Juli 2014. Intervensi II, pada tanggal 10 November 2014, pidato Presiden Joko Widodo di forum APEC mengenai program  tol  laut, dan  menawarkan investasi dibidang pembangunan pelabuhan  kepada bangsa asing. Sehingga model analisis time series yang tepat adalah model analisis intervensi multi input fungsi step, dimana modelnya adalah ARIMA (2,1,0), StepI (b=0, s=2, r=1), StepII (b=3, s=0, r=1). Kata kunci: Analisis intervensi, Multi Input, fungsi step, Tol-Laut.

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 Abnormal Return, Market Reaction around Rating Announcement in Tunisian Stock Market

2016 ◽  
Vol 8 (7) ◽  
pp. 322
Author(s):  
Wissem Daadaa
Keyword(s):  
Stock Price ◽  
Abnormal Return ◽  
Stock Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Price Change ◽  
Study Methodology ◽  
Book To Market Ratio ◽  
The Impact ◽  
Event Study Methodology

This paper tests the market reaction and the stock price change around rating announcements in Tunisian stock exchange using the event study methodology. We examine the impact of the change rating announcement on stock return firms from 2006 to 2010. The results show that only the negative rating with downgrades note which is associated to negative abnormal return. The market does not seem to be interested upgrades rating on the Tunisian market. The negative reaction of the market can be explained by leverage change, Book to Market ratio and the level of the rating fall.

scholarly journals After-Hours Block Trading, Short Sales, And Information Leakage: Evidence From Korea

2017 ◽  
Vol 33 (2) ◽  
pp. 263-282 ◽  
Author(s):  
Taehoon Lee ◽  
Sang-gyung Jun
Keyword(s):  
Stock Returns ◽  
Insider Trading ◽  
Private Information ◽  
Stock Price ◽  
Stock Return ◽  
Governance Structure ◽  
Sales Volume ◽  
Short Sales ◽  
After Hours ◽  
The Impact

We investigate the impact of insider trading in after-hours block market on stock price and short sales volume, before and after the trading becomes public information. During pre-announcement period, positive (negative) abnormal stock return is generated when insiders buy (sell) their shares but does not when quasi-insiders trade, implying that stock price reflects long-lived private information of corporate governance structure. The impact is most prominent when ownership shares are transferred to (from) corporate insiders. In contrast, short sales volume generally does not depend on the identity of block holders. Short sales volume has a negative correlation with abnormal stock return only during the transaction date, indicating that a short-sale decision of tippees is based on their sole expectation on instantaneous stock returns. We also find evidence that insiders select the timing of their trades with respect to maximizing their realized profits or minimizing their purchasing costs. 

scholarly journals Dividend Announcement and Ex-Dividend Effects on Stock Return

2016 ◽  
Vol 8 (7) ◽  
pp. 207
Author(s):  
Dinh Bao Ngoc ◽  
Nguyen Chi Cuong
Keyword(s):  
Event Study ◽  
Stock Price ◽  
Stock Return ◽  
Dividend Policy ◽  
Abnormal Returns ◽  
Listed Companies ◽  
Announcement Date ◽  
Study Methodology ◽  
The Impact ◽  
Event Study Methodology

<p>We study the impact of dividend policy on the stock return by investigating reaction of the stock price on the dividend announcement date and the ex-dividend date.<strong> </strong>In order to achieve this goal, a sample comprising 1962 observations of dividend-related events from 432 listed companies in Vietnam during the period 2008 to 2015 is chosen to analyze and the event study methodology is used to estimate abnormal returns to the shares around the announcement date and the ex-dividend date. Our results clearly show that the effect of dividend announcement on the stock return is positive around the announcement date. In addition, the stock price moves up as long as the ex-dividend date approaches and then starts decreasing from this date onwards.</p>

scholarly journals Analyzing the Impact of a State Concussion Law using an Autoregressive Integrated Moving Average Intervention Analysis

2020 ◽  
Author(s):  
Lihong Huang ◽  
Lindsay Sullivan ◽  
Jingzhen (Ginger) Yang
Keyword(s):  
Moving Average ◽  
Spillover Effect ◽  
Claim Data ◽  
Seasonal Trend ◽  
Intervention Analysis ◽  
Care Organization ◽  
Accountable Care ◽  
Intervention Model ◽  
Autoregressive Integrated Moving Average ◽  
The Impact

Abstract Background: Existing studies analyzing the impact of state concussion laws have found an increase in concussion-related healthcare utilization post-law, in some instances, such increases were observed during the pre-law period due to a potential “spillover” effect. However, few studies have accounted for such an effect when assessing the impact of concussion laws. This study aimed to assess the effects of Ohio’s concussion law on monthly rates of concussion-related medical encounters in Medicaid insured children, using autoregressive integrated moving average (ARIMA) analysis. Methods: We analyzed claim data obtained from the Partners For Kids database, a pediatric accountable care organization in Ohio. Concussion-related medical encounters for Medicaid-insured children (ages 0-18 years) treated between April 1, 2008 to December 31, 2016 were selected and analyzed. The pre- and post-law trends in concussion-related medical encounters were assessed using an ARIMA intervention model. Results: A total of 16,943 concussion-related medical encounters sustained by 15,545 unique patients were identified. Three upward breaks in the monthly rates of concussion-related medical encounters were observed during the study period, with two breaks observed during the pre-law period. A seasonal trend was observed with the highest rates in September and October of each year. Conclusions: Using an ARIMA intervention model, we identified three upward breaks in the monthly rate of concussion-related medical encounters between 2009 and 2016 and an associated seasonal trend. Further research is needed to investigate the effect of state concussion laws on concussion-related medical encounters in children with other types of medical insurance.

scholarly journals Analisis Intervensi Kebijakan Kenaikan Tarif Dasar Listrik (TDL) Tahun 2017 Terhadap Pemakaian Listrik Wilayah SULSELRABAR

2020 ◽  
Vol 2 (1) ◽  
pp. 31
Author(s):  
Ahmad Zaki ◽  
Rahmat Syam ◽  
Ahmad Firjatullah Hakim
Keyword(s):  
Time Series ◽  
Time Series Data ◽  
Step Function ◽  
Government Policies ◽  
Series Data ◽  
Intervention Analysis ◽  
Intervention Model ◽  
Diagnosis Model ◽  
The Impact ◽  
Time Of Intervention

Penelitian ini merupakan penelitian terapan mengenai analisis intervensi yang memodelkan data time series yang dipengaruhi oleh adanya suatu kejadian atau intervensi Penelitian ini bertujuan untuk menentukan model intervensi fungsi step dengan waktu intervensi T (mei 2017) yang didapatkan dari proses pemodelan ARIMA preintervensi, identifikasi responintervensi, estimasi parameter intervensi dan pemeriksaan diagnosis model intervensi. Adapun data yang digunakan adalah data pemakaian listrik (dalamKWh), kategori rumah tangga dengan daya 900 VA, wilayah Sulawesi Selatan Tenggara Barat (SULSELRABAR) periode Januari 2016 sampai dengan Desember 2017 yang diperoleh dari PT. PLN Persero Wilayah SULSELRABAR Makassar. Berdasarkan hasil analisis didapatkan bahwa terjadi penurunan terhadap pemakaian listrik pada bulan setelah terjadinya intervensi sebagai dampak dari kebijakan pemerintah yang menaikkan tarif dasar listrik (didefinisikan sebagai intervensi).Kata kunci: Analisis intervensi, fungsi step, ARIMA, time series This research is an implementation research about intervention analysis that modelling time series data effected by the existence of an event or intervention. This research aimed to determine the model of intervention of  the step function with time of intervention (T) derived from process of ARIMA preintervensi modelling, identification of response of intervention, intervention parameter estimation and examination diagnosis of intervention model. As for the data that was used in the form of data of the using of electricity (in KWh), the category of households with power of  900 VA, South Southeast West Sulawesi Region  (SULSELRABAR) from January, 2016 to December, 2017 were obtained from PT PLN Persero SULSELRABAR Area Of Makassar. Based on the analysis result obtained that there is derivation towards the using of electricity in the month after the intervention, it shows the impact of government policies that raising the electricity base tarif rate (defined as the intervention).Keywords: Intervention Analysis, Step Function, ARIMA, Time Series.

scholarly journals Dampak Kenaikan Harga Tiket Pesawat Terhadap Return dan Harga Saham pada PT. Garuda Indonesia Tbk di Bursa Efek Indonesia

2019 ◽  
Vol 10 (1) ◽  
pp. 1
Author(s):  
Agung Anggoro Seto ◽  
Dian Septianti
Keyword(s):  
Stock Price ◽  
Stock Exchange ◽  
T Test ◽  
Price Increase ◽  
Aviation Industry ◽  
Analysis Model ◽  
Paired Sample ◽  
Before And After ◽  
The Impact ◽  
Airline Ticket

<p align="center"><strong>ABSTRACT</strong></p><p><em>This research aims to analyze the impact of the price increase of airfare against return and the stock price of PT. Garuda Indonesia Tbk. This type of research is comparative. The Data used in this research is the secondary return and stock price of the weekly PT. Garuda Indonesia TBK in Indonesia Stock Exchange, with the amount of data 21 weeks before and 21 weeks after the price increase of airfare. Data analysis Model used the paired sample t-test. The results showed that there was no return on shares of PT. Garuda Indonesia TBK before and after the price increase of the airline ticket with a significance value of 0.887. The results also showed that there was a difference in the stock price of PT. Garuda Indonesia TBK before and after the price increase of the airline ticket with a significance value of 0.000. Where the stock price after the increase of the average airline ticket price is greater Rp. 239.143. The difference in the stock price of PT. Garuda Indonesia TBK. Before and after airfare increases due to investor perception or positive sentiments that assess the price increase in the aviation industry will benefit Airline companies. The high investor confidence and improvement of management system is believed to affect the investor's desire to invest in PT. Garuda Indonesia TBK So it has a significant impact on the price increase of PT. Garuda Indonesia TBK Post Airfare increases.</em></p><p><strong><em>Keywords</em></strong><em> : </em><em>Return, Stock Price, Price Airfare</em></p><p align="center"><strong>ABSTRAK</strong></p><p><em>Penelitian ini bertujuan untuk menganalisis dampak kenaikan harga tiket pesawat terhadap return dan harga saham PT. Garuda Indonesia Tbk. Jenis penelitian adalah komparatif, data yang digunakan pada penelitian ini adalah sekunder berupa return dan harga saham mingguan PT. Garuda Indonesia Tbk di Bursa Efek Indonesia, dengan jumlah data sebanyak 21 minggu sebelum dan 21 minggu sesudah kenaikan harga tiket pesawat. Model analisis data yang digunakan paired sample t test. Hasil penelitian menunjukkan tidak terdapat perbedaan return saham PT. Garuda Indonesia Tbk sebelum dan sesudah kenaikan harga tiket pesawat dengan nilai signifikansi sebesar 0,887. Hasil penelitian juga menunjukkan bahwa terdapat perbedaan harga saham PT. Garuda Indonesia Tbk sebelum dan sesudah kenaikan harga tiket pesawat dengan nilai signifikansi sebesar 0,000. Dimana harga saham setelah kenaikan harga tiket pesawat rata-rata lebih besar Rp. 239,143 Adanya perbedaan harga saham PT. Garuda Indonesia Tbk. sebelum dan sesudah kenaikan harga tiket pesawat disebabkan oleh persepsi investor atau adanya sentimen positif yang menilai kenaikan harga tiket pada industri penerbangan akan menguntungkan bagi perusahaan penerbangan. Tingginya kepercayaan investor dan perbaikan sistem manajemen diyakini berpengaruh terhadap keinginan investor untuk berinvestasi di PT. Garuda Indonesia Tbk sehingga berdampak signifikan terhadap peningkatan harga saham PT. Garuda Indonesia Tbk pasca kenaikan harga tiket pesawat.</em></p><strong><em>Kata kunci</em></strong><em>: Return, Harga Saham, Harga Tiket</em>

The impact of internet financial reporting on Egyptian company’s performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amani Hussein ◽  
Ghadir Nounou
Keyword(s):  
Financial Reporting ◽  
Stock Price ◽  
Stock Return ◽  
Regulatory Body ◽  
Regression Analyses ◽  
Data Set ◽  
Content Type ◽  
Company Value ◽  
Significant Difference ◽  
The Impact

Purpose This study aims to examine the impact of internet financial reporting (IFR) on companies’ performances as measured by three performance indicators, namely, stock price, stock returns and company value. Design/methodology/approach A sample of 139 non-financial companies listed in the Egyptian stock exchange is used and classified as 108 IFR companies and 31 non-IFR companies. To test the research hypotheses, an independent t-test and multiple linear regression analyses are used. Findings The results indicate that there are no significant differences between IFR companies and non-IFR companies for both stock price and stock return variables. Conversely, there is a significant difference between IFR companies and non-IFR companies in the company value variable. These results imply rejecting hypotheses H1 and H4 and accepting the hypothesis of H7 that the presence of IFR has an impact on company value. The multiple regression analyses results indicate a significant relation between the scope of IFR and stock price. Likewise, between the degree of IFR and company value. Both degree and scope of IFR have an insignificant impact on stock return, which infer that applying different performance measures can reveal different conclusions. Research limitations/implications This research is a snapshot of IFR limited to a cross-sectional study and could not study the longitudinal data of internet reporting. Second, Marston and Polei (2004) contend that “weights contain an element of subjectivity, which cannot be completely avoided in the composition of such a score” (p. 297) and a variation in the disclosure index can lead to a modification in the results (Kaur and Kaur, 2020). This research applied a weighted index to measure the degree of IFR, which may affect the results and may change it if other indexes are applied. Moreover, the scores of the degree and scope of information disclosure are assumed to be similar every year due to the lack of information regarding the variations in content and presentation in the companies’ websites. Finally, the absence of a complete data set and stock prices for some companies in the sample. Practical implications To enhance the quantity and quality of IFR could be implemented through setting regulations and standards to govern IFR practices companies in Egypt. Moreover, the trade-off of the requirement of the Egyptian Financial Supervisory Authority for Egyptian companies make information available online and the secrecy culture profound in the Egyptian society (Ahmed et al., 2015) involve assigning a regulatory body for monitoring the IFR practices to ensure disseminating timely and accurate information that helps investors make rational decisions. Social implications The researchers recommend the suggestion to have an external assurance conducted by external auditors to enhance the accuracy and credibility of the IFR information. Originality/value Based on prior literature, no studies in Egypt compare between IFR companies and non-IFR companies concerning stock price and company value as measured by Tobin’s Q. Moreover, few research studies in Egypt covered the degree of IFR disclosure whilst not addressing the impact on the stock price. In addition, no prior study examined the scope of IFR disclosure in Egypt. Therefore, the research findings attribute to literature.

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