Gains From International Diversification and Domestic Portfolio in Emerging Stocks Markets: Philippine and Indonesian Perspectives

Tandelilin, Eduardus

doi:10.22146/gamaijb.37900

Cited by 6 publications

(4 citation statements)

References 14 publications

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“…Jumlah saham yang dibentuk dalam tiap portofolio adalah lima belas. Hal ini sesuai dengan hasil penelitian Tandelilin (1998)…”

Section: Random Samplingunclassified

Kinerja Portofolio Saham Syariah dan Faktor yang Memengaruhi Kinerja Saham Syariah di Indonesia

Pade

2020

LiFalah

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Penelitian ini bertujuan untuk menguji kinerja saham syariah di Bursa Efek Indonesia melalui indeks ISSI, JII, dan portofolio yang dibentuk secara acak dari kelompok saham syariah kemudian membandingkannya dengan kinerja portofolio konvensional melalui tujuh indeks dan portofolio yang dibentuk secara acak dari kelompok saham konvensional. Penelitian ini juga menguji faktor-faktor fundamental perusahaan yang memengaruhi kinerja saham syariah dan membandingkannya dengan faktor yang memengaruhi kinerja saham konvensional. Data yang digunakan dalam penelitian berjumlah 355 emiten terdiri dari 134 emiten saham syariah dan 221 emiten saham konvensional pada periode waktu 2011—2015. Metode yang digunakan untuk mengukur kinerja saham adalah risk-adjusted model dengan empat pendekatan Sharpe, Treynor, M2, dan Jensen’ Alpha. Analisis regresi linear berganda menggunakan metode Ordinary Least Square (OLS) dengan Cross Random Model. Hasil pengujian dan pengukuran menunjukkan bahwa secara umum sepanjang 2011—2015 kinerja portofolio saham konvensional mengungguli portofolio syariah. Namun demikian pada periode krisis global akhir tahun 2011 dan 2012 kinerja portofolio saham syariah mengungguli portofolio saham konvensional, ini memperkuat hasil penelitian yang mengatakan bahwa kinerja saham syariah lebih baik ketika krisis karena investor melakukan mekanisme hedging. Faktor fundamental yang memengaruhi kinerja saham syariah berbeda dengan faktor yang memengaruhi kinerja saham konvensional, terutama pada debt to equity ratio, yang menunjukkan hubungan positif signifikan pada saham syariah dan hasil sebaliknya pada saham konvensional menunjukan hubungan negatif walaupun tidak signifikan secara statistik.

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“…Jumlah saham yang dibentuk dalam tiap portofolio adalah lima belas. Hal ini sesuai dengan hasil penelitian Tandelilin (1998)…”

Section: Random Samplingunclassified

Kinerja Portofolio Saham Syariah dan Faktor yang Memengaruhi Kinerja Saham Syariah di Indonesia

Pade

2020

LiFalah

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“…The Dow Theory adalah bagian dari teori yang terdapat pada analisis teknikal. Teori ini bertujuan mengidentifikasi tren harga pasar saham dalam jangka panjang dengan berdasarkan pada data-data historis harga pasar saham di masa lalu (Tandelilin, 1998). The Dow Theory menggunakan analisis tren untuk menentukan arah pasar.…”

Section: Kajian Pustaka/literature Review Teori Harga Saham the Dow T...unclassified

“…Ekonomi mikro dari sudut perusahaan diwakili oleh kinerja fundamental yang dijelaskan dari kinerja keuangan dan aksi korporasi (Wangui, Mbugua, Kiano, Mbugua, & Kariuki, 2015). Faktor-faktor ekonomi makro secara empiris telah terbukti mempunyai pengaruh terhadap investasi di suatu negara, di antaranya Produk Domestik Bruto (PDB), inflasi, tingkat bunga, dan nilai tukar mata uang (Tandelilin, 1998). Nilai HBA adalah rata-rata dari 4 indeks harga batu bara yang umum digunakan dalam perdagangan batu bara, yaitu: Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Global Coal Newcastle Index (GCNC), dan Platt's 5900, dengan kualitas yang disetarakan pada 6.322 kkal/kg Gross As Received (GAR), kandungan air (total moisture) 8%, kandungan sulphur 0,8% as received (ar), dan kandungan abu (ash) 15% ar (Anindita, 2017;Sundari, 2015).…”

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Analysis of stock price movements based on reference prices and sales volume: a study at PT Bukit Asam Tbk

Gunarto

Wulansari

2021

JURNAL MANAJEMEN DAN BISNIS SRIWIJAYA

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The purpose of this study was to find out whether the movement of the share price of PT Bukit Asam Tbk (PTBA) occurred due to the impact of fluctuations in the Reference Coal Price (HBA) and coal sales volume (VP) or not. Taking HBA data from the publication of the Ministry of Energy and Mineral Resources (ESDM), PTBA coal sales volume is obtained from company financial reports and PTBA share price data is obtained from the Indonesia Stock Exchange (BEI) and Yahoo Finance. This study uses quarterly data from January 2009 to December 2018. All data are then analyzed using the VAR / VECM method. The results showed that the Impulse Response Function (IRF) HBA had a significant positive impact on PTBA's stock price in the short and long term. Meanwhile, coal sales volume had an insignificant positive impact on PTBA's share price. Forecast Variance Decompositions (FEVD) also shows that the response generated by the HBA is greater than the coal sales volume factor against the PTBA stock price during the observation period. From this research it can be concluded that the rise and fall of HBA and coal sales volume have clear implications for companies and investors. So it is recommended that companies always evaluate the performance and effectiveness of strategic policies. As for investors, it is useful as a source of investment information, in relation to portfolio strategies.

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“…Investors can economically and efficiently allocate their capital. Investors can make chosen investment decisions in productive sectors that are thought to be capable of providing returns based on the expected level of each investment decision (Tandelilin, 2018). Stocks, as a stock market tool, are well-known and in high demand among investors.…”

Section: Introductionmentioning

confidence: 99%

The Influence of The Asean Regional Capital Market on Asean-5 Countries' Foreign Exchange Reserves

Mulatsih,

Masruri,

Subiyantoro

et al. 2023

JISS

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The capital market sector is one area of economic activity that is expected to grow significantly following the adoption of the ASEAN Economic Community (AEC). As a result, integrating capital market activity in the ASEAN area must be a top priority in AEC implementation. The essential criterion for creating a seamless flow of cash and investment is the integration of ASEAN countries' capital markets. The total worth of all outstanding shares based on their normal closing price is reflected in the stock market capitalisation. A rise in the value of market capitalization indicates that the capital market is expanding. Capital flows into and out of the capital market are thought to have altered the value of foreign exchange reserves. Foreign capital market investment contributes to a balanced balance of payments. Foreign capital not only serves to cover the deficit in domestic capital that domestic savings cannot fill, but it also helps to fill the emptiness in the foreign exchange gap through asset sales.

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Gains From International Diversification and Domestic Portfolio in Emerging Stocks Markets: Philippine and Indonesian Perspectives

Cited by 6 publications

References 14 publications

Kinerja Portofolio Saham Syariah dan Faktor yang Memengaruhi Kinerja Saham Syariah di Indonesia

Kinerja Portofolio Saham Syariah dan Faktor yang Memengaruhi Kinerja Saham Syariah di Indonesia

Analysis of stock price movements based on reference prices and sales volume: a study at PT Bukit Asam Tbk

The Influence of The Asean Regional Capital Market on Asean-5 Countries' Foreign Exchange Reserves

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