scholarly journals Kurs dan Nilai Perdagangan Saham di BEI Sebelum dan pada Masa Pandemi Covid-19

2021 ◽  
Vol 18 (1) ◽  
pp. 61
Author(s):  
Penta Widyartati ◽  
Ira Setiawati ◽  
Ariyani Indriastuti
Keyword(s):  
Exchange Rate ◽  
Significant Relationship ◽  
Stock Exchange ◽  
Trade Data ◽  
Independent Variable ◽  
The Exchange Rate ◽  
Two Stages ◽  
Securities Trading ◽  
The Impact ◽  
The Relationship

ABSTRACT   Corona Virus (Covid-19) not only harms humans in terms of health, but also has a big impact on the world economy. This study aims to analyze the impact caused by the covid-19 outbreak on the value of securities trading on the IDX and the rupiah exchange rate against the USD. The study was conducted through two stages, the first was to test the effect of the independent and dependent variables. The dependent variable in this study is the trade value, namely the daily trading value data on the Indonesia Stock Exchange from December 2019 to May 2020. As for the exchange rate variable as an independent variable, the data is taken on the BI page. The data is divided into two, namely data before the pandemic, represented by trade data from December 2019 to February 2020, and data during the pandemic period represented by trade data from March 2020 to May 2020. After testing the relationship between dependent and independent variables, research followed by a comparison, which compares the effect of the exchange rate on the value of trade on the IDX before the pandemic and during the pandemic. The results showed that there was a significant relationship between the exchange rate and the value of trade during the observation period before the pandemic, but in the event of a pandemic, this significant relationship no longer exists.Keywords                      : comparison; exchange rate; pandemic; trade value;Correspondence to        : [email protected] ABSTRAKVirus Corona (Covid-19) tidak hanya merugikan manusia dari segi kesehatan, tetapi juga berdampak besar bagi perekonomian dunia. Penelitian ini bertujuan untuk menganalisis dampak wabah Covid-19 terhadap nilai perdagangan efek di BEI dan kurs rupiah terhadap USD. Penelitian dilakukan melalui dua tahap, yang pertama adalah menguji pengaruh variabel independen dan dependen. Variabel dependen dalam penelitian ini adalah nilai perdagangan yaitu data nilai perdagangan harian di Bursa Efek Indonesia dari Desember 2019 hingga Mei 2020. Sedangkan untuk variabel kurs sebagai variabel independen data diambil dari laman BI. Data tersebut terbagi menjadi dua, yaitu data sebelum pandemi yang diwakili oleh data perdagangan bulan Desember 2019 hingga Februari 2020, dan data selama periode pandemi diwakili oleh data perdagangan dari bulan Maret 2020 hingga Mei 2020. Setelah dilakukan pengujian hubungan antara variabel dependen dan independen, penelitian dilanjutkan dengan perbandingan, yaitu membandingkan pengaruh kurs terhadap nilai perdagangan di BEI sebelum pandemi dan saat pandemi. Hasil penelitian menunjukkan bahwa terdapat hubungan yang signifikan antara kurs dan nilai perdagangan selama periode observasi sebelum pandemi, namun pada saat terjadi pandemi, hubungan yang signifikan tersebut tidak ada lagi.Kata Kunci : pandemi; perbandingan; kurs; nilai perdagangan.

Managers' and auditors' narcissism on the management team's stability and relative corporate performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahdi Salehi ◽  
Safoura Rouhi ◽  
Mohana Usefi Moghadam ◽  
Faezeh Faramarzi
Keyword(s):  
Significant Relationship ◽  
Fixed Effects ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Relative Performance ◽  
Psychological Characteristics ◽  
Content Type ◽  
The Impact ◽  
The Relationship ◽  
Performance Research

PurposeSuccess in corporate relative performance is one of the factors for the growth and durability of firms. Since the relative performance is a function of managers' decisions and such decisions are under the influence of behavioral and psychological characteristics, this paper aims to assess the managers’ and auditors’ narcissism's effect on the management team's stability relative to corporate performance.Design/methodology/approachThis paper has used the signature magnitude for examining narcissism and the regression model of Jenter and Kanaan (2015) for assessing relative corporate performance. The logistic regression is used to test the model of the management team's stability, and the multivariate regression is used to test the model of relative corporate performance. Research hypotheses were also examined using a sample of 768 listed year-companies on the Tehran Stock Exchange during 2012–2017 and by employing a panel data approach and fixed effects method.FindingsThe obtained results show a negative and significant relationship between managers' and auditors' narcissism and the management team's stability. The relationship between the narcissism of managers and auditors and relative corporate performance is positive and significant. Moreover, managers' narcissism positively and significantly impacts the relationship between auditors' narcissism and team management stability. A negative and significant relationship is evident between auditors’ narcissism and relative corporate performance.Originality/valueThis study's results can identify the effect of psychological components such as narcissism on people's performance by directing and influencing their decisions. Many studies have been conducted on narcissism, but none of them have examined the impact auditors’ and managers' narcissism has on the management team's stability and the corporate relative performance. Therefore, considering the importance of success in the corporate relative performance and benefits of the management team's stability, this study's results can reveal the importance of such features in accounting research. Also, the results of this research can make it important to know more about financial behavioral theory.

scholarly journals Measuring the relationship between the balance of payments and the exchange rate - A case study of a group of Arab countries during the period 2000/2016-

2018 ◽  
Vol 2 (2) ◽  
pp. 44-66
Author(s):  
Abd Elouahid SERARMA ◽  
Newfel BAALOUL
Keyword(s):  
Exchange Rate ◽  
Empirical Studies ◽  
Arab Countries ◽  
Balance Of Payments ◽  
Rate System ◽  
Exchange Rate System ◽  
Independent Variable ◽  
The Exchange Rate ◽  
The Relationship

The Objective of this study is to examine the effect of exchange rate system on the balance of payments, with a case study of a group of Arab countries. First we shed light on the most important theoretical and empirical studies of exchange rate systems and their macroeconomics effects in one hand. In the other hand we study a case of six oil exporting Arab countries. To achieve this purpose we adopted a panel data and run an econometric model to examine the relationships between the variables during the period 2000 to 2016. The study concluded that there is a significant positive correlation between the exchange rate as an independent variable and the balance of payments as a dependent variable, and there is no deference in the effects of the exchange system in the study of six Arab economies.

scholarly journals The Impact of Macroeconomic Variables on Stock Prices: An Empirical Analysis of Islamabad Stock Exchange

2014 ◽  
Vol 10 (2) ◽  
pp. 73-93
Author(s):  
Nosheen Rasool ◽  
Muhammad Mubashir Hussain
Keyword(s):  
Exchange Rate ◽  
Significant Relationship ◽  
Stock Prices ◽  
Price Index ◽  
Stock Exchange ◽  
Foreign Exchange Reserves ◽  
Macroeconomic Variables ◽  
Production Index ◽  
Long Run ◽  
The Impact

The purpose of this study was to analyze long-run causal relationship between ISE (Islamabad Stock Exchange) and macroeconomic variables in Pakistan and also find out the direction of causality. The impact of macroeconomic variables on stock prices of ISE has not been previously discussed by the researchers. The monthly data from January 2001 to December 2010 was used in this study. The set of macroeconomic variables include Exchange Rate (ER), Foreign Exchange Reserves (FER), Industrial Production Index (IPI), Interest Rate (IR), Imports (M), Money Supply (MS), Wholesale Price Index (WPI) and Exports (X). Descriptive statistics and Unit root test, Johansen Co-integration Technique and Granger Causality Technique were employed to analyze the long-run and causal relationship between the macroeconomic variables and stock prices.  The results revealed that M showed positive and significant relationship but Foreign Exchange Reserves (FER) and Industrial Production Index (IPI) indicated positive and insignificant relationship with the stock prices. Exchange rate(ER), Money supply (MS) and  Whole sale price index(WPI) showed negative but significant relationship while Interest  rate (IR) and Export( X )indicated a negative and insignificant relationship with the stock prices. The findings of Granger Causality revealed that only exports showed a unidirectional causal relationship. 

scholarly journals Effect Of Cultural Dimensions On Stock Exchange Investment Decisions In Iran

2012 ◽  
Vol 10 (12) ◽  
pp. 681
Author(s):  
Zahra Amirhosseini ◽  
Vivian O. Okere
Keyword(s):  
Significant Relationship ◽  
Stock Exchange ◽  
Power Distance ◽  
Investment Decisions ◽  
Cultural Dimensions ◽  
Main Hypothesis ◽  
Geert Hofstede ◽  
Personal Investment ◽  
The Impact ◽  
The Relationship

The purpose of this study is to analyze the impact of cultural dimensions on personal investment decisions in the Tehran Stock Exchange. The cultural dimensions model was well established by Geert Hofstede (1980). This research tested a main hypothesis and four subsidiary hypotheses. The data was gathered through library methods and questionnaires. The results showed that the main hypothesis which examined whether there is a significant relationship between cultural dimensions and investment decisions in the Tehran stock exchange was confirmed. Subsidiary hypothesis about the relationship between two of Hofstedes cultural dimensions, Power Distance and Individualism, and investment decisions was not confirmed at a meaningful level. However other subsidiary hypothesis of the research based on the relationship between Masculinity and Uncertainty Avoidance and investment decisions was significant at a meaningful level and confirmed.

scholarly journals The Impact of Currency Shocks on Sanandaj Municipality Revenues in Iran

2020 ◽  
Vol 10 (1) ◽  
pp. 1-9
Author(s):  
Shaho Heidari Gandoman ◽  
Shahla Nouri
Keyword(s):  
Exchange Rate ◽  
Data Analysis ◽  
Significant Relationship ◽  
Main Hypothesis ◽  
Statistical Population ◽  
Correlation Test ◽  
Exchange Rate Fluctuations ◽  
The Impact ◽  
The Relationship ◽  
Negative Exchange

Exchange rate fluctuations have been affecting economic demand in recent years. The purpose of this study is to review the effects of exchange shocks on Sanandaj Municipality Revenues. The statistical population is Sanandaj municipality during 2006-2018 and SPSS, Eviews softwares were used for data analysis. The results show that since the correlation test is not significant at the level of 0.95, there is no significant relationship between two variables of municipality income and exchange fluctuations. Thus, the main hypothesis is rejected. In other words, exchange shocks have no impact on Sanandaj municipality revenues. Also based on the correlation test, since the correlation test is not significant at the level of 0.95, the relationship between the two variables of municipality income and negative exchange fluctuations is not significant and the sub-hypothesis (1) is rejected, and finally based on correlation test, since the correlation test is not significant at the level of 0.95, the relationship between two variables of municipality and positive exchange fluctuations is not significant. Thus, the sub-hypothesis (2) is rejected as well. It could be concluded that, Sanandaj municipality revenues do not follow the currency rate fluctuations.

scholarly journals Economic Growth: How Inflation and the Exchange Rate Work Through the Stock Market as a Mediating Variable

2019 ◽  
Vol 9 (4) ◽  
pp. 197
Author(s):  
Vietha Devia SS
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Stock Market ◽  
Exchange Rates ◽  
Stock Exchange ◽  
Path Model ◽  
Analysis Tool ◽  
The Exchange Rate ◽  
The Impact ◽  
Research Period

This study aims to investigate the impact of inflation and the exchange rate on economic growth through the stock market as a mediating variable. The analysis tool used a path model with monthly data. The research period lasted for 14 years from 2004 to 2017. The data was obtained from the Central Statistics Bureau, Bank Indonesia and Jakarta Stock Exchange. Case studies were conducted in Indonesia and the researcher took the Consumer Goods Index as a variable in the stock market. The results show that inflation and the exchange rates do not significantly affect economic growth through the stock market. Alternatively, the stock market is not an excellent mediating variable between inflation and the exchange rate on economic growth. The size of the stock market and the awareness of domestic investors when accessing the stock market is thought to be the factors that influence how the inflation and exchange rates work.

scholarly journals Time Series Analysis About The Relationship Between Foreign Trade and Exchange Rate in Turkish Economy

2014 ◽  
Vol 7 (2) ◽  
pp. 123-133 ◽  
Author(s):  
Bilal Kargi
Keyword(s):  
Time Series ◽  
Exchange Rate ◽  
Time Series Analysis ◽  
Foreign Trade ◽  
Trade Deficit ◽  
Trade Data ◽  
Turkish Economy ◽  
The Exchange Rate ◽  
The Relationship

Abstract In this study, the relationship between the foreign trade data and the exchange rate is tested using the monthly data for the period of 1992:01-2014:01 in Turkish Economy. The devaluation of local currency is expected to increase export while decreasing import rates, thus it will close the foreign trade deficit, theoretically. However, this effect is observed in varying degrees in the on both short and long terms. One of the most fundamental problems of the Turkish Economy is the foreign trade deficit, beside the Turkish Lira is a quite frequently fluctuating currency. The relationship between the foreign trade data and the exchange rate is an important topic to examine when the dependence of export to import is especially considered. In this study, the longterm relation between these two main variables and their causality are examined as using the time series analysis. Therefore, the tested hypothesis will be „there is a long term relationship between the exchange rate and the foreign trade in Turkish Economy“. It is was empirically observed that this hypothesis is correct as a result of the tests. It is also observed that there is Granger causality from the exchange rate to the exports, imports and net foreign trade in addition to the fact that the long term relationship exists between the foreign trade and the rate of exchange.

scholarly journals The Effect of Taxes, Exchange Rates, Leverage, and Bonus Mechanisms on Transfer Pricing in Manufacturing Companies Listed on The IDX

2021 ◽  
Vol 1 (3) ◽  
Author(s):  
Wenny Anggeresia Ginting ◽  
Bee Arlita Ade Putri Br. Sitorus ◽  
Cindy Lorenza ◽  
Sania Surga Mas
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Stock Exchange ◽  
Transfer Pricing ◽  
Manufacturing Companies ◽  
Substantial Impact ◽  
Net Profit ◽  
The Exchange Rate ◽  
Deferred Tax ◽  
The Impact

This research examines the impact of taxes, exchange rates, leverage, and bonus mechanism on transfer pricing. Tax is calculated by dividing deferred tax expenses taxable by profits. The exchange rate is calculated by dividing foreign exchange profit and loss by profit and loss before tax. Leverage is calculated by dividing total debt by total assets. Bonus Mechanism is calculated by multiplying net profit year t by net profit year t-1 by 100%. The population in this research included 54 manufacturing firms listed on the Indonesia Stock Exchange in 2017-2019, with 29 samples examined across three years. This study is quantitative since the data is numerical, and the data analysis technique is multiple linear regression. The exchange rate has a substantial impact on transfer pricing, according to the findings of this research. Based on the study, the Adjusted R Square value is 0.104, which indicates 10.4% of the independent factors, namely tax, exchange rate, leverage, and bonus mechanism, impact the dependent variable, transfer pricing. The remaining 89.6% is affected by another variable.

scholarly journals PENGARUH INFLASI, NILAI TUKAR, CURRENT RATIO (CR) DAN DEBT TO EQUITY RATIO (DER) TERHADAP HARGA SAHAM (Studi Kasus Pada PT. Eratex Djaja, Tbk Periode 2009-2011)

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Muhammad Gusvarizon
Keyword(s):  
Exchange Rate ◽  
Stock Price ◽  
Stock Exchange ◽  
Share Price ◽  
Research Use ◽  
Current Ratio ◽  
Equity Ratio ◽  
Independent Variable ◽  
The Relationship

This study entitled "Influence Analysis of Inflation, Exchange Rate, Current Ratio (CR) and Debt to Equity Ratio (DER) on Stock Price (Case Study At PT Eratex Djaja, Tbk Listed on Indonesia Stock Exchange Period 2009 - 2011). In this research use survey research method with correlational and predictive approach. By taking sample that is PT. Eratex Djaja, Tbk Listed on Indonesia Stock Exchange Period of quarter 2009 - 2011. To solve the problem by analyzing and testing the relationship and influence between independent variable to dependent variable used by causalistic model through regression analysis with the help of SPSS 14.0. The result of this research is simultaneously Inflation, Exchange Rate, Current Ratio (CR) and Debt to Equity Ratio (DER) have positive and significant influence to Stock Price. Partially that: Inflation gives effect to Stock Price with influence of 44% (strong enough), Exchange Rate gives influence to Share Price with influence of 56% (strong enough), Current Ratio (CR) gives effect to Stock Price with influence equal to 76% (strong) and Debt to Equity Ratio (DER) give effect to Share Price with influence equal to 71% (strong).

scholarly journals Study and Analysis of Optimal Portfolio of Investment in Banks

2021 ◽  
pp. 71-78
Author(s):  
Shibu Thomas Refai ◽  
Fathy Al Gamel
Keyword(s):  
Commercial Banks ◽  
Return On Investment ◽  
Financial Analysis ◽  
Stock Exchange ◽  
Investment Portfolio ◽  
Return On Equity ◽  
Independent Variable ◽  
The Impact ◽  
The Relationship ◽  
Simple Regression

The current research aims to study and analyze the investment portfolio in banks and how to manage, study and analysis on the Iraqi banks period 2010-2018 to show the impact of the efficiency of the management of investment portfolio on the profitability of commercial banks listed on the Iraqi Stock Exchange. The study was conducted on all Iraqi commercial banks listed in the Iraqi financial market, where the researcher first calculated the 2012 index and the risk of the investment portfolio and the return of the investment portfolio, the banks, which represent the independent variable, return on investment and return on equity, and the risk-free return as control and subsidiary variables. A financial analysis aimed at identifying the effect of the efficiency of the management of the investment portfolio on the profitability of commercial banks. The results of the analysis were identical with the results of the statistical analysis, which was performed using the simple regression equation and multiple regression to identify the effect and correlation coefficient Pearson to identify the relationship between the independent variable and the dependent variable. The main results of the study were the absence of statistically significant impact on the level of risk-free return on The return on investment and the return on equity and the absence of statistically significant impact at the same level of return on the investment portfolio on both the return on investment and the return on equity and the exi

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