CAPITAL MARKET COINTEGRATION AND DECISION BUY-SELL STOCK

Sitinjak, Elizabeth Lucky Maretha and Warastuti, Yusni (2019) CAPITAL MARKET COINTEGRATION AND DECISION BUY-SELL STOCK. THE INDONESIAN JOURNAL OF ACCOUNTING RESEARCH, 22 (1). pp. 31-64. ISSN 2655-1748

[img]
Preview
Text
CAPITAL MARKET COINTEGRATION AND DICISION BUY-SELL STOCK.pdf

Download (1MB) | Preview
Official URL: https://ijar-iaikapd.or.id/index.php/ijar/article/...

Abstract

The problem in this study is whether the Indonesian Capital Market is coupled with the ASEAN Capital Market and East Asia Capital Market. And the interest rate of the US Federal Reserve (Fed Rate) and the Central Bank of Indonesia's Interest Rates (BI Rate) against the decision of domestic investors and foreign selling buying of shares. The research model uses EViews-9 for stationary testing (ADFTest), cointegration (Johansen-Test), and t-test and f-test automatically calculated by EViews-9.The study found their cointegration between Capital Markets in ASEAN (JCI, STI, KLSE, SET, PSE), cointegration in Capital Markets in EAST ASIA (NIKKEI, HSI, KOSPI, SHCOMP, TWSE), and cointegration Interest Rates (The Federal Fund Rate, Bank Indonesia Rate). The results of this study also showed that domestic investors in the Central Bank of Indonesia (BI Rate) are deciding to buy shares with the movement. Meanwhile, local investors in the decision to sell stocks saw the index movement of the KLSE and STI index (ASEAN Capital Markets), as well as the TWSE index (East ASIA Capital Market). Foreign Investors buy stocks to decide on the movement of the US Federal Reserve (the Fed) and the Bank Indonesia interest rate (BI Rate).

Item Type: Article
Subjects: 300 Social Sciences > 330 Economics > Public Finance
600 Technology (Applied sciences) > 650 Management > 657 Accounting
Divisions: Faculty of Economics and Business > Department of Accounting
Depositing User: Dr Elizabeth Lucky Maretha
Date Deposited: 27 Sep 2022 05:13
Last Modified: 27 Sep 2022 05:13
URI: http://repository.unika.ac.id/id/eprint/29450

Actions (login required)

View Item View Item