scholarly journals Lagged Effect of Macroeconomic Variables on Stock Returns: A Case of Firm Size

2021 ◽  
Vol 19 (1) ◽  
Keyword(s):  
Stock Returns ◽  
Firm Size ◽  
Small Firms ◽  
Size Group ◽  
Negative Effects ◽  
Macroeconomic Factors ◽  
Large Size ◽  
Negative Effect ◽  
Positive Effect ◽  
Lagged Effect

The evidence of lagged effect regarding firm size between macroeconomic factors and stock returns is found with GARCH model for the UAE firms. More precisely, exchange rate showed a significant effect on stock returns irrespective of size group and lag level. However, a positive effect is observed at lag four and a negative effect is observed on lag five and two for small and large size firms respectively. For majority of the firms in small size, the risk-free rate showed a negative lagged effect on stock returns; however, for the majority of the firms in large size, it showed a positive lagged effect on stock returns. Inflation also showed a significant effect on stock returns on each lag level except for large firms where at lag five it is insignificant. Moreover, as the lags increase from 1- 4 and size from small to large, the negative effect of inflation converts to positive effect on stock returns. The lag effect of real activity showed both positive and negative effects on relatively larger stock returns of small firms than big firms. Money supply showed positive significant effect on stock returns of all firms irrespective of the size group; however, this relationship is even more prominent at lag five. Finally, the oil prices showed a positive effect on stock returns (large size) which further maximizes at lag two; whereas, a negative maximization takes place at lag three. Hence, investors can make informed and effective decisions and UAE policymakers developed effective measures to control and promote macroeconomic growth and stability.

scholarly journals Understanding Defensive Stocks with Company Fundamentals and Dividend Policy Variables as Moderation

2020 ◽  
Vol 9 (3) ◽  
pp. 233-242
Author(s):  
Ali Mahfudz ◽  
Andhi Wijayanto
Keyword(s):  
Stock Returns ◽  
Firm Size ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Return On Equity ◽  
Negative Effect ◽  
Positive Effect

The purpose of this study was to determine the effect of Return on Equity, Firm Size, Debt Equity Ratio and Price Earning Ratio on return defensive stocks with Dividend Policy as Variable Moderation in Manufacturing Companies. The study population was manufacturing sector companies listed on the Indonesia Stock Exchange from 2015 to 2018. There were 61 companies sampled using purposive sampling techniques. The analytical method uses multiple linear analysis and moderated Regression analysis. The results showed the Firm Size variable had a significant positive effect and the DER variable had no significant positive effect while the ROE and PER variables had no significant negative effect on return defensive stocks. The MRA test states that the Dividend Payout Ratio variable strengthens the effect of Firm Size on return defensive stocks while the ROE, DER and PER variables are weakened by the effect on return defensive stocks by dividend policy. Future studies are expected to use other variables that might increase or decrease stock returns.

Estimasi Pengaruh Faktor Internal Bank dan Stabilitas Makroekonomi terhadap Profitabilitas dengan Mediasi Rasio Pembiayaan Bermasalah di PT Bank Muamalat Indonesia

2020 ◽  
Vol 3 (2) ◽  
pp. 93-108
Author(s):  
Annisa Siti Fathonah ◽  
Dadang Hermawan
Keyword(s):  
Secondary Data ◽  
Financial Statements ◽  
Significant Positive Effect ◽  
Return On Assets ◽  
Internal Factors ◽  
Macroeconomic Factors ◽  
Operating Income ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
Positive Effect

This study aims to determine and analyze how much influence the bank's internal factors such as Equity, Operational Costs per Operating Income (BOPO), Financing Deposit to Ratio (FDR), Non Performing Financing (NPF) as a mediator and external or macroeconomic factors namely inflation and Gross Domestic Product (GDP) on profitability represented by Return on Assets (ROA) at Bank Muamalat Indonesia for the period 2008-2018. The data used in this research are secondary data obtained from the publication of quarterly financial statements from 2008 to quarter 2 of 2018. The method that used in this research is path analysis with SPSS 20.0 as the analytical tool. The results of the study partially test the hypothesis (t-test), in substructure I shows that the capital variable has a significant negative effect on NPF, BOPO and inflation has a significant positive effect on NPF, FDR and GDP do not significantly influence NPF at Bank Muamalat Indonesia. In substructure II partially, Capital, BOPO, significant negative effect on ROA, FDR and NPF has a significant positive effect on ROA, Inflation and GDP does not significantly influence ROA while simultaneously significantly influencing ROA. Based on the sobel test, capital has a significant effect on ROA through NPF, BOPO has a significant effect on ROA through NPF, FDR has a significant effect on ROA through NPF, Inflation has a significant effect on ROA through NPF, while GDP has no significant effect on ROA through NPF.

scholarly journals PENGUNGKAPAN TERKAIT SDGs DAN PROFITABILITAS SERTA ANALISIS INDUSTRI

2021 ◽  
Vol 21 (1) ◽  
pp. 75
Author(s):  
Siti Alfiah ◽  
Regina Jansen Arsjah
Keyword(s):  
Content Analysis ◽  
Real Estate ◽  
Firm Size ◽  
Consumer Goods ◽  
Stock Exchange ◽  
Basic Industry ◽  
Real Estate Sector ◽  
Negative Effect ◽  
Development Goals ◽  
Positive Effect

<p><em>This research was conducted to capture the extent to which Indonesian companies have revealed their activities related to each goal of the Sustainabls Development Goals (SDGs), specifically in the year the SDGs were launched. Aim of the study is to analyze and obtain empirical evidence about the effect of SDGs’ related company disclosure, firm size, leverage on profitability, and related industrial analysis. The SDGs’ related company disclosure was measured using content analysis. This research conducted on all companies listed on the Indonesia Stock Exchange (IDX) in 2015, with a sample, amounted to 468 companies. The results show the positive effect of SDGs’ related company disclosure on profitability and the negative effect of leverage on profitability. There is no effect of size on profitability. The results also show that the financial sector revealed the most SDGs, followed by the basic industry and chemical sector, property, and real estate sector, and the consumer goods sector.</em></p>

scholarly journals THE INFLUENCE OF CORPORATE GOVERNANCE, COMPANY SIZE, AND LEVERAGE TOWARD EARNING MANAGEMENT

2019 ◽  
Vol 6 (1) ◽  
pp. 19
Author(s):  
Mayasari Mayasari ◽  
Ayu Yuliandini ◽  
Intan Indah Permatasari
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Earning Management ◽  
Managerial Ownership ◽  
Company Size ◽  
Negative Effect ◽  
Positive Effect

<p><em>The purpose of this study is to examine the influence of GCG variables, firm size, and leverage on earnings management. The sample used is 35 public listed property and real estatecompanies in the Indonesia Stock Exchange (IDX) from 2015 until 2017. The sampling technique uses purposive sampling. This study uses multiple regression. The results of the analysis showed that managerial ownership does not have a negative effect on earnings management but oppositely, it has a positive effect on earnings management, while company size does not have any effect on earning management.</em><em> </em></p>

scholarly journals People’s attitudes towards deadwood in forest: evidence from the Ukrainian Carpathians

2019 ◽  
Vol 65 (No. 5) ◽  
pp. 171-182 ◽  
Author(s):  
Oksana Pelyukh ◽  
Alessandro Paletto ◽  
Lyudmyla Zahvoyska
Keyword(s):  
Local Community ◽  
Sustainable Forest Management ◽  
Managed Forests ◽  
Negative Effects ◽  
Face To Face ◽  
The Face ◽  
Negative Effect ◽  
Intensively Managed ◽  
People’S Attitudes ◽  
Positive Effect

People’s attitudes towards forest stand characteristics including deadwood are becoming increasingly relevant in sustainable forest management. The aim of this study is to investigate people’s attitudes towards deadwood in forest. The study was carried out in the Rakhiv region (Ukraine) characterized by high importance of forest resources for the local community and economy. People’s opinions were collected through the face-to-face administration of a questionnaire to 308 respondents. The survey investigated three aspects: importance of deadwood in forest; people’s perceptions of positive and negative effects of deadwood in forest; effects of presence and amount of deadwood in different types of forest on people’s aesthetical preferences. The results show that the majority of respondents consider deadwood as an important component of the forest, but generally they prefer intensively managed forests without deadwood. According to the respondents’ opinions, the most important positive effect of deadwood is a contribution to stand dynamics, while the most important negative effect is an increasing risk of insects and diseases.

scholarly journals PENGARUH LEVERAGE DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI

2019 ◽  
Vol 8 (5) ◽  
pp. 3028
Author(s):  
Ni Putu Ira Kartika Dewi ◽  
Nyoman Abundanti
Keyword(s):  
Firm Size ◽  
Consumer Goods ◽  
Firm Value ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Significant Positive Effect ◽  
Analysis Technique ◽  
Negative Effect ◽  
Consumer Goods Industry ◽  
Positive Effect

The purpose of this study was to determine the effect of  leverage and  firm size on firm value with profitability as intervening variable on consumer goods industry  in the Indonesian Stock Exchange. The population in this study are companies in the consumer goods industry Indonesian Stock Exchange amounted to 46 companies 2014-2017. Sampling technique used was purposive sampling, so that the final sample that is obtained is 21, a company incorporated in consumer goods industry in Indonesian Stock Exchange 2014-2017. Data analysis technique used in this research is path analysis and Sobel test. The result shows that leverage has significant negative effect on profitability  and firm size has significant positive effect on profitability. Leverage, firm size, and profitability have significant positive effect on firm value. Profitability mediates the effect of leverage on firm value significantly and profitability also mediates the effect of firm size  on firm value significantly.

scholarly journals Pengaruh Financial Distress, Ukuran Perusahaan, dan Corporate Governance pada Audit Delay

2019 ◽  
pp. 2154
Author(s):  
Ni Putu Shinta Oktaviani ◽  
Dodik Ariyanto
Keyword(s):  
Corporate Governance ◽  
Firm Size ◽  
Financial Distress ◽  
Audit Committee ◽  
Sampling Method ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Analysis Technique ◽  
Negative Effect ◽  
Positive Effect

This study aims to determine the effect of financial distress, company size, and corporate governance on audit delay. This research was conducted at mining companies listed on the Indonesia Stock Exchange in 2015-2017. The number of samples taken was 32 companies so that there were 96 observations, with a purposive sampling method. The analysis technique used in this study is multiple linear regression. Based on the results of the analysis found that financial distress and independent board of commissioners have positive effect on audit delay. Firm size, audit committee and institutional ownership have negative effect on audit delay. Keywords: Financial distress, firm size, corporate governance, audit delay

scholarly journals Determinants of Firm Capital Structure: Empirical Evidence From Vietnam

2020 ◽  
Vol 11 (4) ◽  
pp. 10
Author(s):  
Hieu Thanh Nguyen ◽  
Anh Huu Nguyen
Keyword(s):  
Capital Structure ◽  
Method Of Moments ◽  
Firm Size ◽  
Generalized Method Of Moments ◽  
Return On Assets ◽  
Return On Equity ◽  
Factors Affecting ◽  
Tangible Assets ◽  
Negative Effect ◽  
Positive Effect

The paper aims to investigate the factors affecting firm capital structure in the context of Vietnam. The research sample includes 290 non-financial listed companies on Vietnamese stock market. This study applied Generalized Method of Moments (GMM) to explain the research results. The paper investigates six factors influencing on firm capital structure including return on assets (ROA), return on equity (ROE), firm size, tangible assets, risks, and growth. The empirical results show that return on assets, tangible assets, risks, and growth have a statistically significant positive effect on the firm capital structure while return on equity has a statistically significant negative effect on the firm capital structure. In addition, when dividing companies into sectors, the study realized that determinants of capital structure in some sectors are consistent with results for entire sample. Finally, firm size has the same impact on capital structure in oil & gas companies and material companies whereas it is not statistically significant for other companies. These evidences provide a new insight to managers on how to determine the reasonable capital structure.

scholarly journals Pengaruh Nilai Tukar terhadap Return Saham dengan Profitabilitas sebagai Variabel Intervening

2020 ◽  
Vol 30 (5) ◽  
pp. 1283
Author(s):  
Made Dewi Gita Puspita Lestari ◽  
I Gusti Ngurah Agung Suaryana
Keyword(s):  
Exchange Rates ◽  
Stock Returns ◽  
Sampling Method ◽  
Stock Exchange ◽  
Participant Observation ◽  
Analysis Techniques ◽  
Observation Methods ◽  
Negative Effect ◽  
Positive Effect ◽  
Collection Methods

The research aims to examine the effect of exchange rates on stock returns through profitability. The study was conducted on mining companies listed on the Stock Exchange which numbered 49 companies. Samples were determined by a purposive sampling method totaling 7 companies that were studied for 3 years of observation using quarterly reports, so there are 84 observation datas. Data collection methods and data analysis techniques used are non-participant observation methods and path analysis. The results showed that the exchange rate had a significant negative effect on stock returns and profitability. Profitability has a significant positive effect on stock returns, and exchange rates have indirect influence on stock returns through profitability. Keywords: Stock Returns; Exchange Rates; Profitability.

A time-lagged study on the moderating role of overall satisfaction in perceived politics: Job outcomes relationships

2016 ◽  
Vol 23 (3) ◽  
pp. 321-336 ◽  
Author(s):  
Farooq Ahmed Jam ◽  
Magda B L Donia ◽  
Usman Raja ◽  
Chong Hui Ling
Keyword(s):  
Job Performance ◽  
Job Stress ◽  
Interpersonal Conflict ◽  
High Stress ◽  
Interactive Effects ◽  
Negative Effects ◽  
Negative Effect ◽  
Time Lagged ◽  
Positive Effect ◽  
High Politics

AbstractIn a time-lagged study with independent measures (N=115, paired responses), we examined the interactive effects of perceived organizational politics and overall satisfaction on job stress, interpersonal conflict, job performance, and creativity. The data were collected from a diverse sample of employees from various workplaces in Pakistan. The findings showed that perceived politics had a positive effect on job stress, while overall satisfaction had a negative effect on interpersonal conflict and a positive effect on creative performance. The results also revealed that in the face of high politics, highly satisfied individuals demonstrated higher levels of creativity and job performance. However, in this context of high politics negative effects were also observed, namely that highly satisfied individuals participated in interpersonal conflict and experienced high stress.

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