The Impact of Adopting Electronic Trading System on Performance of the Amman Stock Exchange

2013 ◽  
Vol 03 (03) ◽  
pp. 29-36
Author(s):  
Najeb M.H. Masoud
Keyword(s):  
Stock Exchange ◽  
Market Value ◽  
The Other ◽  
Electronic Trading ◽  
Trading System ◽  
Two Samples ◽  
Significant Difference ◽  
Amman Stock Exchange ◽  
Before And After ◽  
The Impact

This study aims to highlight the impact of adopting electronic trading System on performance of the Amman Stock Exchange (ASE) represented in the (value traded) and (market capitalisation) where, for the implementation of that, secondary data were collected from (taken from the monthly statistical bulletins of the Stock Exchange) related to the study variables, where an analysis of the difference between the middle two samples: the first study variables before the introduction of the system, and the other after you have inserted, to find out whether there is a significant difference between the size of the stock exchange in trading before and after the introduction of the electronic trading system, and whether there is a significant difference between the value between the market value of securities listed on the stock exchange before and after the introduction of the system. The results of the study show that the use of the electronic trading system as an alternative to the manual trading system has contributed to raise the volume of trading and the market value of the ASE. We believes that the result of the increase in the degree of transparency and security for traders and investors in the stock market, and give great flexibility and different information to brokers facilitated an analysis of the situation of companies traded faster, which achieved more justice, speed and ease of execution of orders, on the other hand, the system has led to facilitate control over the trading operations and the dissemination of information in real time for both local or foreign investors which contributes to increase the depth and liquidity of the market.

scholarly journals Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI

2021 ◽  
Vol 7 (2) ◽  
pp. 227-233
Author(s):  
Maria J F Esomar ◽  
Restia Christianty
Keyword(s):  
Financial Performance ◽  
Hypothesis Testing ◽  
Sampling Method ◽  
Stock Exchange ◽  
Paired Sample ◽  
Empirical Results ◽  
Significant Difference ◽  
Before And After ◽  
The Impact ◽  
Profitability Ratios

The Covid-19 pandemic has caused many hotels, restaurants and tourism activities to be temporarily closed. It has an impact on the financial performance towards the companies engaged in this sub-sector. The objective of this study is to analyze the impact of Covid 19 towards the financial performance of companies engaged in the sub-sector of hotel, restaurant and tourism. Financial performance is measured using several ratios, namely liquidity ratios, solvability ratios, profitability ratios and market ratio. The ype of research is descriptive quantitave. The population in this study is 35 all companies in the sub-sector of hotel, restaurant and tourism listed on the Indonesia Stock Exchange in 2019-2020 period. Samples are collected from 30 companies using purposive sampling method. Hypothesis testing is conducted using the Paired Sample t-Test. The empirical results show that, in the liquidity ratio, and market ratio there is no significant difference between the periods of before and after the first recorded Covid-19 case in Indonesia. Meanwhile, in the solvability ratio and profitability ratio, there are significant differences between the two periods.

scholarly journals Efeitos do pregão eletrônico sobre a eficiência e a volatilidade condicional no mercado de ações brasileiro

2019 ◽  
Vol 17 (1) ◽  
pp. 80
Author(s):  
Leandro Maciel ◽  
Rosangela Ballini
Keyword(s):  
Stock Exchange ◽  
Electronic Trading ◽  
Trading System ◽  
Trading Systems ◽  
Global Capital ◽  
Random Walk Hypothesis ◽  
Before And After ◽  
Negative Effect ◽  
Volatility Regimes

<p>Stock exchange automation, characterized by the replacement of floor trading systems by electronic trading systems, is one of the main restructuring processes observed in global capital markets in recent decades. This paper investigates the effects of automation in the São Paulo Stock Exchange (B3), which adopted an electronic trading system in October 2005. Empirical analysis of the Bovespa index rejects the random walk hypothesis for the periods before and after B3 automation, and provides evidence of distinct volatility regimes. After automation, there is an increase in the linear dependence of IBovespa returns, suggesting a negative effect of automation on the Brazilian stock market’s efficiency. On the other hand, in the same period, there is evidence for a reduction in the long-term persistence of conditional volatility, in response to shocks to returns.</p>

scholarly journals THE IMPACT OF IFRS ADOPTION ON EARNINGS MANAGEMENT IN BANKING COMPANIES IN INDONESIA STOCK EXCHANGE

2016 ◽  
Vol 13 (2) ◽  
pp. 176
Author(s):  
Prima Santy ◽  
Tawakkal Tawakkal ◽  
Grace T. Pontoh
Keyword(s):  
Earnings Management ◽  
Stock Exchange ◽  
Research Result ◽  
Control Variable ◽  
T Test ◽  
Test Analysis ◽  
Ifrs Adoption ◽  
Significant Difference ◽  
Before And After ◽  
The Impact

The issue of the IFRSadoption as a standard that can lead to a reduction of earnings management. The research aimed to give empirical evidence concerning the impact of the IFRS adoption on earnings management, and the test of the difference level of earnings management between before and after the IFRS adoption. The research scope focused on the implementation of IFRS adoption particularly in PSAK No. 50 and PSAK No. 55 (revised 2006) concerningfinancial instruments. The research objects were the banking companies listed in Indonesia Stock Exchange for 4 years (2008-2011), i.e. as many as 23 banks. Samples were taken by using the purposive sampling technique. The main variables in this research are IFRS and earnings management,and includes several control variable, among others are, size, financial leverage, market to book value and institutional investors. The data were analyzed usingmultiple regression analysis and different t-test analysis. The research result indicates that the IFRS adoption has not effect the decreaseon the earnings management.Among the four control variables, the variable institutional investor is found not to have theeffect on earnings management, whereas the other three variables haveeffect.The result of the different t-test analysis also indicates that statistically there is not significant difference on the level of the earnings management between before and after IFRS adoption. Thus, based on this study concluded that the adoption of IFRS still allow for the occurrence of earnings management.

Effects of Different Molting Procedures on Incidence of Salmonella Infection in Flocks of Naturally Contaminated Laying Hens in a Commercial Egg-Producing Farm by Detection of Yolk Antibodies to Salmonella in Eggs

2006 ◽  
Vol 69 (12) ◽  
pp. 2883-2888 ◽  
Author(s):  
TOSHIYUKI MURASE ◽  
KAORI CHIBA ◽  
TOMOKO SATO ◽  
KOICHI OTSUKI ◽  
PETER S. HOLT
Keyword(s):  
Wheat Bran ◽  
Egg Production ◽  
Egg Yolk ◽  
The Other ◽  
Feed Withdrawal ◽  
Two Samples ◽  
Significant Difference ◽  
Before And After ◽  
Specific Pathogen ◽  
Egg Yolks

Indirect enzyme-linked immunosorbent assays (ELISAs) have been applied to detect immunoglobulin Y antibodies to different serotypes of Salmonella in the yolks of chicken eggs with heat-extracted antigens of Salmonella enterica serotypes Agona (SA), Cerro (SC), Enteritidis (SE), Montevideo (SM), and Putten (SP). The egg yolk samples examined were classified as positive if their ELISA absorbance values exceeded the value for eggs from specific-pathogen-free flocks by more than two standard deviations. Of 30 egg yolk samples from three flocks vaccinated with a killed SE vaccine, 29 were antibody positive by the ELISA assay for the SE antigen. Four to 29 of the 29 yolk samples showed positive results for the other serovars, although the absorbance values for SE were higher than those obtained for the other serotypes in each of the yolk samples. All 30 yolks from three flocks that were not administered any SE vaccines were found to be antibody negative for SE, and two samples were determined to be positive for SC. Thirty-nine or 40 eggs were obtained from each of four layer flocks in a commercial egg production farm where the laying houses were naturally contaminated with SA, SC, SM, SP, Salmonella serovar Infantis (SI), and untypeable strains. The ELISA absorbance values for SM in the egg yolks obtained from the two flocks molted through feed withdrawal when the birds restarted laying were significantly (P &lt; 0.05) higher than those observed in the yolks obtained before the molt. In egg yolks from the two other flocks that were molted through a wheat bran diet, there was no significant difference between the absorbance values before and after the molt. The observations in the present study provide further evidence to suggest that a molt initiated through the administration of a wheat bran diet can reduce the risk for Salmonella problems in a commercial egg-producing setting.

scholarly journals Indonesia stock exchange: Abnormal return amid pandemic

2021 ◽  
Vol 6 (01) ◽  
pp. 15-20
Author(s):  
Gunistiyo Gunistiyo ◽  
Jaka Waskito ◽  
Yuni Utami
Keyword(s):  
Abnormal Return ◽  
Time Window ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Investment Decisions ◽  
The Other ◽  
Market Reactions ◽  
First Case ◽  
Significant Difference ◽  
Before And After

This study aims to reveal the behavior of investors on the Indonesia Stock Exchange (IDX) before and during (early) the COVID-19 pandemic. This study is an extension of references to understand market reactions in response to future crises. This study is an event study with a time window of 76 trading days before and after the first case was officially announced by the authorities in Indonesia. Taking a sample of stocks included in the Liquid Index (LQ) 45, this study measures the abnormal return and transaction volume during the pre and post-first official announced cases and test the whole data by t-test. The results of data analysis indicate that there is no difference in abnormal returns, but there is a significant difference in transaction volume. These findings indicate that, in general, the Indonesian market is quite efficient, as evident from the absence of different abnormal returns. On the other hand, the market also appears to be cautious in making investment decisions amid uncertainty.

scholarly journals Impact of the COVID-19 pandemic and New Normal implementation on credit risk and profitability of Indonesian banking institutions

2021 ◽  
Vol 16 (3) ◽  
pp. 104-112
Author(s):  
Sri Wahyuni ◽  
Pujiharto ◽  
Siti Nur Azizah ◽  
Zulfikar Zulfikar
Keyword(s):  
Credit Risk ◽  
Financial Services ◽  
Stock Exchange ◽  
Banking System ◽  
Secondary Data ◽  
Sample Collection ◽  
New Normal ◽  
Significant Difference ◽  
Before And After ◽  
The Impact

This study aims to compare the credit risk and profitability of banks in Indonesia. For this, the descriptive-quantitative method is used. The sample collection is based on the purposive sampling method. The study involved 71 Indonesian banks listed on the Indonesian Stock Exchange and Financial Services Authority, both conventional and Sharia. The research data are secondary data that include published results of quarterly financial reports of both conventional and sharia banks obtained from the website of the Financial Services Authority or the official websites of banks. The profitability of banks in making profit is measured by the Return on Assets ratio. The method of analysis used is the paired sample t-test. The results show significant differences in nonperforming loans (NPL) before and after the COVID-19 pandemic in conventional banking. However, there is no significant difference in Sharia banking. Moreover, there is no significant difference in profitability before and after the new normal implementation. This study provides empirical evidence that Indonesia’s banking restructuring policies to anticipate the impact of COVID-19 did not work optimally. The study is expected to help bank managers and the Financial Services Authority as a basis for evaluating the implementation of government policies to restructure the banking system.

scholarly journals The Impact of Bond Rating Announcement on Companies Listed Stock Returns: Evidence from Indonesia

2019 ◽  
Vol 1 (2) ◽  
pp. 75
Author(s):  
Novyandri Taufik Bahtera
Keyword(s):  
Stock Returns ◽  
Sampling Method ◽  
Stock Exchange ◽  
Bond Ratings ◽  
Bond Rating ◽  
Significant Difference ◽  
Before And After ◽  
The Impact ◽  
Observation Period

This study aims to determine whether there is a difference between stock returns before and after the announcement of both increases and decreases in bond ratings. This study is classified as a case study with an observation period of 5 days before and 5 days after the announcement of the bond rating. The population of this study is all companies listed on the Indonesia Stock Exchange that announced the ratings of bonds from 1999 to 2009, which made a total of 331 bond ratings in 52 companies. The sample was chosen using a purposive sampling method and 24 samples were obtained for the announcement of the increase in bond ratings and 18 samples for the announcement of the bond rating decline. Data testing is done using paired sample t-test. Based on the results of the study it can be concluded that (1) there is no significant difference in stock returns around the date of the announcement of the increase in bond ratings. This indicates that the announcement of an increase in bond ratings does not bring information to investors. (2) There is a significant difference in stock returns around the date of the announcement of the decline in bond ratings. This indicates that the announcement of the downgrade of bonds carries information content for investors.

scholarly journals An Empirical Study for the Correlation Between Disclosed Related Party Transactions and the Market Value of Companies Listed on the Amman Stock Exchange

2021 ◽  
Vol 5 (1) ◽  
pp. 112
Author(s):  
Hisham Mohammed Ahmed Al-Shayeb ◽  
Tawfiq H. Abdel-Jalil
Keyword(s):  
Stock Exchange ◽  
Market Value ◽  
Return On Assets ◽  
Control Variables ◽  
Related Party Transactions ◽  
Audit Firms ◽  
Final Sample ◽  
Amman Stock Exchange ◽  
The Impact ◽  
Big Four

This study examines the correlation between related parties’ transactions (RPT) and company’s market value in Jordan. In this study the related party transactions were covered through operationalized into three forms that are: Transactions with parent company, subsidiaries and affiliated companies (TPSAC), Transactions with associated companies (TAC) and Transactions with main shareholders, directors and/or managers (TMSDM), in order to see the impact on company’s value.This study considered all the companies listed in Amman Stock Exchange (ASE) at the end of year 2018 with total number of 226 companies for all sectors. After excluding companies with missing data, the final sample size was 218 companies; covering almost 96% of population. Multiple regression test was used to examine the study’s hypotheses. The result of the study indicates that the related party transactions (RPT) Shown a positive effect on (TQ) which represents the company’s value with presence of the control variables (audited by one of the big four audit firms (BIG), size of the company (SIZE), return on assets (ROA), and dividend yield (DIV). The results also show the increasing influence of the independent variable on the dependent variable with presence of the control variables. 

scholarly journals The impact of demonetization on Indian firms’ performance: does company’s age make a difference?

2018 ◽  
Vol 15 (3) ◽  
pp. 71-82
Author(s):  
Waleed M. Al-ahdal ◽  
Najib H.S. Farhan ◽  
Mosab I. Tabash ◽  
T. Prusty
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Nonparametric Test ◽  
Rank Test ◽  
Significant Difference ◽  
Before And After ◽  
Signed Rank Test ◽  
Financial Consultants ◽  
Level Of Significance ◽  
The Impact

The main aim of this paper is to evaluate the impact of demonetization on Indian firm’s quarterly financial performance before and after demonetization period (March-December, 2017), and to find out if companies’ age helps to face financial disruption. Four variables, which are net sales, total income, net profit after tax, and earnings per share, were taken as proxies for analyzing the quarterly financial performance of 2,892 companies listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and Calcutta Stock Exchange (CSE). Nonparametric test, particularly Wilcoxon Matched-Pairs Signed Rank Test and Kruskal-Wallis one-way analysis of variance, were applied in analyzing the data. Results reveal that there is a statistically significant difference between the financial performance before and after demonetization at 5% level of significance. It was also found that the decrease/increase in the financial performance of all the firms was affected by the demonetization process, irrespective of their ages. The findings could be useful for financial managers and financial consultants, as they would be able to focus on the issues that matter most at the time of financial disruption.

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