THE IMPACT OF COVID-19 OUTBREAK ON CHINA SECTORAL INDICES IN SHORT AND MEDIUM RUN

The novel coronavirus COVID-19 has severe consequences for countries around the globe. The purpose of this study to find out the impact of COVID-19 on China’s sectoral indices in the short and medium run. This research investigates the impact of COVID-19 on stock exchange index, exchange rates, money lending, and oil prices in the Chinese economy in the short and medium run by using secondary data of different sectoral sectors. The outcomes show that COVID-19 has strongly influenced these sectors. The Shanghai stock exchange is showing a decline in transactions due to this pandemic in the short run. But in the medium run, the outcome shown that Shanghai stock exchange has upward trend. The pandemic has reduced exchange rate of Chinese RMB to US dollar in short-run, but in medium run, Chinese RMB has gained appreciation against US dollar. The money lending for medium enterprises is showing downward curve. Result shows that money lending rate has reduced from 3.25% to 3.10% in the short-run and 2.95% in medium run. Overall, pandemic has had significant influence on the Chinese economy and development.

The Impacts of Oil Prices, Exchange Rate and COVID-19 Pandemic on BIST Petrochemical Market

Stock markets are developing with the economic growth of the countries in a liberal market economy. Petrochemicals is an indicator of the performance of the country's industry with high inter-industry linkage by providing input to several sectors, producing various outputs with a certain number of raw materials. The COVID-19 pandemic period has affected all markets worldwide and caused fluctuations in the index values of large firms in the petrochemical industry in Borsa Istanbul (BIST). This study analyzes the impact of the pandemic period and change in the oil prices and exchange rate on the petrochemical market in Turkey. The monthly data of petrochemical stock market index, exchange rate, oil prices are used in this time series analysis. A pandemic information index representing the COVID-19 pandemic was derived and included in the model. According to the results, it is observed that the most important determinant of the fluctuations on the BIST petrochemical index is the oil prices. While a shock in oil prices negatively affects the BIST petrochemical index, the petrochemical index responds positively to the shock in the pandemic index.

EFFECTS OF INFLATION, INTEREST, AND EXCHANGE RATE ON JAKARTA ISLAMIC INDEX 2017-2020

ABSTRAKDengan ketersediaan nya pengetahuan terkait pasar modal, Penelitian ini mencoba untuk menganalisa pengaruh inflasi, tingkat suku bunga, dan nilai tukar mata uang rupiah (Kurs) pada “Jakarta Islamic Index (JII). Variabel independen yang digunakan dalam penelitian ini adalah inflasi (X1), tingkat suku bunga (X2), dan nilai tukar rupiah (X3) sedangkan variabel dependen yang digunakan adalah “Jakarta Islamic Index (JII). Tipe penelitian ini menggunakan penelitian deskriptif atau statistika inferensial dengan pendekatan kuantitatif. Populasi penelitian mencakup aspek-aspek yang mempengaruhi “Jakarta Islamic Index. Sampel yang digunakan adalah aspek aspek tersebut pada periode Januari 2017- Oktober 2020. Jenis analisis yang digunakan pada studi ini adalah analisis regresi linier berganda. Hasilnya, inflasi memberikan efek positif yang besar terhadap JII, tingkat suku bunga berpengaruh positif dan substansial terhadap JII, dan nilai tukar rupiah juga sangat memberikan pengaruh negatif terhadap JII. Penelitian ini dituntut agar bisa memberikan ilmu baru terkait, politik, sains, dan bidang lainnya.Kata kunci: inflasi, Jakarta Islamic Index, nilai tukar, suku bunga. ABSTRACTWith the vast body of knowledge in capital market, this study attempts to determine the effect of inflation, interest rates, and the exchange rate of the rupiah upon the Jakarta Islamic Index (JII). The independent variables in this research are inflation (X1), interest rate (X2), and rupiah exchange rate (X3), and the dependent variable are Jakarta Islamic Index (Y). The research methodology used is descriptive or inferential statistics research, relying on the qualitative instrument. Hence, the population covers the factors that influence the Jakarta Islamic Index, and the sample used is those of ranges from January 2017 to October 2020. Multiple linear regression analysis is used in this study. The results showed that inflation has a significant deficiency upon the Jakarta Islamic Index (JII). The interest rate has a positive and significant effect on the Jakarta Islamic Index (JII), and the rupiah exchange rate has a significant negative impact on the Jakarta Islamic Index (JII). This research is subjected to provide more comprehensive insight into politics, social science, and other fields.Keywords: inflation, Jakarta Islamic Index, exchange rate, interest rates.

Bank of Japan Equity Purchases: The (Non-)Effects of Extreme Quantitative Easing*

From January 2011 through March 2018, the Bank of Japan purchased equity index exchange-traded funds (ETFs) worth about 3.5% of GDP. Identification of the effect of central bank ETF purchases on stock valuations and corporate responses is via differently-weighted and changing stock indices. BOJ purchases lift valuations, increase share issuances, and increase total assets. On average, the latter increase is due to cash and short-term securities rather than capital investment. However, firms with worse corporate governance do increase capital investment. These findings suggest central bank equity purchases are a problematic tool for stimulating economic growth through high broad-based private-sector corporate investment.

Estimasi permintaan indeks harga saham gabungan di Indonesia

The purpose of this study is (a) to see the development of the composite stock price index, exchange rate, inflation, interest rates, and the money supply in Indonesia. (b) analyze the effect of the exchange rate, inflation, interest rate, and money supply on the composite stock price index in Indonesia. The method used in this study is a quantitative descriptive method with multiple linear regression analysis tools using the Ordinary Least Square (OLS) method. The data used is in the form of a time series. The results of this study average the development of the composite stock price index by 0.22 percent, the exchange rate by 2.57 percent, inflation by -0.90 percent, interest rates by -2.73 percent, and the Money Supply by 0.06 percent. Based on the results of the analysis conducted, exchange rates and interest rates have a negative and significant effect on the composite stock price index, inflation and the money supply have a positive and significant effect on the composite stock price index. Keywords: Composite stock price index, Exchange rate, Inflation, Interest rates, Money supply.

ANALISIS FAKTOR YANG MEMPENAGRUHI PASAR MODAL DAN PEREKONOMIAN DI INDONESIA

This research aims to knows impact of composite stock price index, exchange rate and value of traded share to capital market and analyze the impact of capital market to indonesia’s economics using two stage least squares (TSLS). The first equation to seek the impact of composite stock price index, exchange rate dan and value of traded share to capitalism stock. The results of this research showed composite stock price index, exchange rate, value of traded share have significant positive impact to capitalism stock.. The second equation to seek the impact of consumption, government expenditure, capitalism stock, private investment and net export to Indonesia’s economic. The results of this research showed consumption have significant positive to Indonesia’s economic. Government Expenditure, Capitalism stock, Private investment, Net export have unsignificant impact to indoneisa’s economic. From the results of this research we can suggest to the government give more attentiont indicators that able to support the indonesia’s economic and overcome negative side lowers the indonesia’s economic. And that the government will be able to control the investments made in order to have a positive impact to indonesia’s economic. And also expected for investors to further increase their investment so that increasing employment opportunities and making the indonesia’s economic.

Dampak Krisis Sub-Prime Mortgage Terhadap Ekonomi Makro Dan Pasar Modal di Indonesia

The research aimed to find the relationship among customer price index, exchange rate, the world price of oil and mining sector index as a result of the subprime mortgage crisis, and to determine the impact of the sub-prime mortgage crisis on the relationship among macro economic variables. The data used in the period January 2000 to April 2013. The analytical tool used are the Vector Autoregression (VAR), impulse response function (IRF) and variance decomposition (VD). This study found that 1) there is a relationship among customer price index, exchange rate, the world price of oil and mining sector index, but no cointergation among them, 2) there is an impact of sub-prime mortgage crisis on relationship among macro economic variables examined.

Analisis Pengaruh GCG dan Kinerja Keuangan Terhadap Pengungkapan Islamic Social Reporting (ISR)

This study aims to analyze of good corporate governance and financial performance influences to disclosure Islamic Social Reporting (ISR). Islamic Social Reporting (ISR) is a social responsibility disclosure index accordance to the sharia principles. Populations in this study are all companies that listed in Jakarta Islamic Index exchange in 2011-2015. The sampling method in this tudy is puposive sampling. The total number of samples in this study were 55 research samples. The disclosure of ISR is obtained by content analysis through scoring method from corporate annual reports. The analytical techniques was conducted by descriptif statistic and classical assumption test and also hypothesis was tested using multiple liniear regression method, Adjusted R2 test, F test and t test. The analysis showed that audit committee size, liquidity and profitability significantly affect the disclosure of ISR. Meanwhile, commissioners board size and leverage does not affect the disclosure of ISR. Keywords: Islamic Social Reporting (ISR), good corporate governance, financial performance, Jakarta Islamic Index

Analisis Determinan Pengungkapan Islamic Social Reporting (ISR) (Studi Kasus Pada Perusahaan yang Terdaftar pada Jakarta Islamic Index Tahun 2011 - 2015)

This study aims to analyze factors affecting Islamic Social Reporting (ISR) of Jakarta Islamic Index (JII). Islamic Social Reporting (ISR) is a social responsibility disclosure index accordance to the sharia principles. The social responsibility disclosure is accountability to Allah SWT to make a decision for muslim firm report user. ISR was evaluated based on content analysis by analyzing annual report of 55 companies that listed in Jakarta Islamic Index exchange in 2011-2015. There were four factors suspected to influence ISR in this study. The results show that liquidity, profitability and company age significantly affect the disclosure of ISR. Meanwhile, industry type does not affect the disclosure of ISR.