Analisis Pasar Modal Syariah 5 Negara Asean di Era Pandemi COVID 19

Romadhon, Muhammad Ryan; Ardiansyah, Misnen

doi:10.19184/ejeba.v9i1.30412

Cited by 4 publications

(3 citation statements)

References 9 publications

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“…The Covid-19 pandemic created a pessimistic among investors toward the company's future [26], causing investors immediately selling their shares. The pessimistic attitude of investors can be seen from the panic of investors in responding to any information about COVID-19 that causes price fluctuations and stock trading [31]. Therefore, the first hypothesis in the study is: H1a: negative investor sentiment affects stock returns H1b: positive investor sentiment affects stock returns.…”

Section: The Effect Of Investor Sentiment On Stock Returns During The...mentioning

confidence: 99%

Indonesian Covid-19 Pandemic Trends: Sentiment Analysis and Stock Return Connectedness

Tojibussabirin¹,

Kurniawati²

2023

Advances in Social Science, Education and Humanities Research

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The study aims to analyze the causality relationship of investor sentiment and stock returns during a pandemic. This research is important because the massive impact of the pandemic in various sectors has caused changes in investors' financial behavior, including an increase in covid 19 keyword searches and vaccines on google trends. The word vaccine was categorized as positive sentiment whereas the word covid 19 pandemic as negative sentiment. All data were obtained from google trend from January 2020 to December 2021. The stock return data from January 2020 to December 2021 were obtained from yahoo finance. This study used vector autoregressive to test the causality relationship of the two variables. There is a causality relationship between investor sentiment and stock returns because most investors are noise traders. Hence, their investment is categorized as a herding behavior where one investor prefers to follow the decisions made by other investors.

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Section: The Effect Of Investor Sentiment On Stock Returns During The...mentioning

confidence: 99%

Indonesian Covid-19 Pandemic Trends: Sentiment Analysis and Stock Return Connectedness

Tojibussabirin¹,

Kurniawati²

2023

Advances in Social Science, Education and Humanities Research

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“…Tetteh et al (2022) report that the case reports including the death rate from Covid-19 had a negative impact on the performance of financial markets in Ghana and Botswana from March 1, 2020, to September 30, 2021. At the ASEAN level, some studies from Dewi et al (2021), Octavera and Rahadi (2021), and Romadhon and Ardiansyah (2022) report that capital market conditions have worsened due to the Covid-19 pandemic. Some studies as found by Putri (2020), Nasution et al (2020), Sumarni (2020), Aeni (2021), Hamzah et al (2021), and Akhmad (2022) also report the adverse impact of Covid-19 on the economy and especially the capital market in Indonesia.…”

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confidence: 99%

Efficient market and the COVID-19 pandemic: Case of ASEAN-5

Pontoh

Budiarso

2023

CFABR

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The issue of Covid-19 has a negative impact, especially on the capital markets of ASEAN-5 countries (Indonesia, Malaysia, Singapore, Thailand, and the Philippines). This study aims to examine the movement of market returns in ASEAN-5 countries at the start of the Covid-19 pandemic. The data used are daily market indices for the period 2020 to 2021. The findings show that market indices for all ASEAN-5 countries move unstable throughout 2020. In 2021, efficient market conditions under the assumption of a weak form only occur in Singapore where the trend of the index of the market becomes more predictable. Empirical evidence also shows that the interrelationship between market indices in ASEAN-5 countries is varied.

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“…There are various ways to measure the level of economic stability in a country and one of them is by measuring the performance of its stock market. Performance in the stock market can be said to be good if it can reflect prices that are relevant to the news that develops in the community (Romadhon & Ardiansyah, 2022).…”

Section: Introductionmentioning

confidence: 99%

Islamic Capital Market Integration in 5 ASEAN Countries in the Covid-19 Era

Romadhon

Mutmainah

2023

JESTT

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The purpose of this study was to analyze the short-term and long-term relationship between the Islamic capital markets of 5 selected countries in the Covid-19 era. This study used a quantitative approach using weekly secondary data from January 2020 to December 2022. The data analysis model used Vector Auto Regression (VAR) analysis. The results of this study show that in the short term, variants in the capital market will change due to shocks in other ASEAN Islamic capital markets, but short-term deviations in the Islamic capital market will adjust in the long term. meanwhile, in the long run, Islamic capital markets in ASEAN countries that were tested, have integrated despite the occurrence of a health crisis that also has an impact on the financial crisis. This provides an opportunity for investors to mitigate risks and increase profit margins, especially in Islamic stock exchanges in ASEAN countries. On the other hand, this research allows investors to reformulate a more diversified portfolio after the Covid-19 pandemic. Keywords: Integration, Islamic Capital Market, ASEAN, Covid 19 ABSTRAK Tujuan dari penelitian ini adalah untuk menganalisis hubungan jangka pendek dan jangka panjang antara pasar modal syariah 5 negara terpilih di era Covid-19. Penelitian ini menggunakan pendekatan kuantitatif dengan menggunakan data sekunder mingguan januari 2020 sampai dengan desember 2022. Model analisis data menggunakan analisis Vector Auto Regression (VAR). Hasil penelitian ini menunjukkan bahwa dalam jangka pendek, varian di pasar modal akan berubah karena guncangan di pasar modal syariah ASEAN lainnya, namun penyimpangan jangka pendek di pasar modal syariah akan menyesuaikan dalam jangka panjang. sementara dalam jangka panjang, pasar modal syariah di negara-negara ASEAN yang teruji, memiliki integrasi meskipun terjadi krisis kesehatan yang juga berdampak pada krisis keuangan. Hal ini memberikan suatu kesempatan bagi para investor untuk memitigasi risiko dan memperbesar margin keuntungan terutama di bursa saham syariah negara ASEAN. Disisi lain, dengan adanya penelitian ini memungkinkan membantu para investor untuk merumuskan kembali portofolio yang lebih terdiversifikasi setelah terjadinya pandemi covid-19. Kata Kunci: Integrasi, Pasar Modal Syariah, ASEAN, Covid 19 REFERENCES Abd. Majid, M. S. (2018). Who Co-Moves The Islamic Stock Market of Indonesia -The US, The UK, or Japan? Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah, 10(2), 267–284. doi:10.15408/aiq.v10i2.7288 Abdul Karim, B., & Abdul-Rahman, A. (2020). Market integration in asean-5: Evidence of Islamic and conventional stock markets. Polish Journal of Management Studies, 21(1), 186–198. doi:10.17512/pjms.2020.21.1.14 Abdulkarim, F. M., Akinlaso, M. I., Hamid, B. A., & Ali, H. S. (2020). The nexus between oil price and Islamic stock markets in Africa: A wavelet and Multivariate-GARCH approach. 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Analisis Pasar Modal Syariah 5 Negara Asean di Era Pandemi COVID 19

Cited by 4 publications

References 9 publications

Indonesian Covid-19 Pandemic Trends: Sentiment Analysis and Stock Return Connectedness

Indonesian Covid-19 Pandemic Trends: Sentiment Analysis and Stock Return Connectedness

Efficient market and the COVID-19 pandemic: Case of ASEAN-5

Islamic Capital Market Integration in 5 ASEAN Countries in the Covid-19 Era

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