The problems in this study are the decrease in the share price and the increase in the volume
of stock transactions in BUMN listed in LQ45 as well as the number of positive confirmed …
Effect of Changes in Earning on Stock Prices of Listed Healthcare Sector of t...ijtsrd
Nowadays, information on stock price movement has become paramount in making an investment decision and a good knowledge of the factors that determine stock prices and the ability to predict stock prices are added advantages in the developing economies. Therefore, this study seeks to determine the impact of earnings on the stock price of healthcare firms in Nigeria. The study relied on the linear panel modeling approach of fixed effect and random effect while the Hausman test was applied for the model selection. The panel data set used for the study was sourced from the NSE annual fact book for the periods 2011 to 2020. The result of the random effect model estimated revealed that earnings per share EPS , dividend yield DDY and firm size FSZ have no significant impact on the stock price of healthcare firms in Nigeria. The only exception is book value per share BVPS which is positive and had a significant impact on the stock prices of healthcare firms in Nigeria at the 0.01 significant levels. This study, therefore, concludes that BVPS is the perfect predictor of stock price movement in the healthcare sector. As a result, the study recommends among other findings that Book Value per Share should be considered when making investment decisions in the healthcare firms in Nigeria. Aniedozie Obiamaka Mercy | Prof Alphonsus S. Anichebe | Dr. Emeka-Nwokeji, N. A "Effect of Changes in Earning on Stock Prices of Listed Healthcare Sector of the Nigerian Stock Exchange" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4 , June 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50335.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50335/effect-of-changes-in-earning-on-stock-prices-of-listed-healthcare-sector-of-the-nigerian-stock-exchange/aniedozie-obiamaka-mercy
The Impact of the down stop of JCI on Investment Interest of the Milenial Gen...AJHSSR Journal
ABSTRACT: This study aims to analyze the impact of the decrease in the Composite Stock Price Index (IHGS)
on the investment interest of the millennial generation in the revolution. The COVID-19 pandemic has affected
economic conditions, especially markets and industry this year. The Covid-19 pandemic had an impact on
decreasing economic growth, decreased investment in the capital market, which was marked by the weakening
of the Composite Stock Price Index on the Indonesia Stock Exchange. This study aims to analyze changes in the
Composite Stock Price Index during the Covid-19 pandemic. The research method used is descriptive and
verification methods with a qualitative approach. This Composite Stock Price Index affects the investment
interest of investors in investing their capital in companies that are on the Indonesia Stock Exchange. However,
in its development in recent years, the composite stock index has decreased. This has led to investors, one of
whom is thinking back to investing in companies on the Indonesian stock exchange. This impact causes
investors to decrease due to fluctuating share prices. However, this causes new investors to come to buy stocks
which are currently plummeting. This is because stocks are a long-term instrument that will grow together with
existing market values.
KEYWORDS: JCI, Revolution 4.0, Investment, Millennial, Pandemic Covid-19
This document summarizes a study that analyzed the reaction of Indian stock indices and investors to different categories of news announcements during the COVID-19 pandemic. The study identified 31 days with extreme stock market returns between February 2020 and June 2021. It grouped the news from those days into 4 categories and examined the reaction of indices like the BSE Sensex and investors like clients, FIIs, and DIIs. The results found a statistically significant difference between the two news announcement groups for stock indices but not for investors. Most of the return series were found to be random, and no day-of-the-week effect was found for investor investment patterns. The impact of negative COVID-19 news was reduced by government interventions, and stock market
Sector Wise Stock Market Performance during Pre and Post Covid EraDr. Amarjeet Singh
The spread of the Covid-19 pandemic has an unprecedented and immense impact on the world economy as well as the Indian economy. The stock market, treated as a barometer of the economic activity of any country is adversely affected. Not even in India, countries like Germany, France, the USA, and Spain have been strongly affected. Nationwide lockdown, restriction on the transportation system, demand-supply disequilibrium lead to slow down in the economy and create a fear factor among the participants of the capital market. Rapid fall in the share price and increased volatility are identified during this period. The present study tries to compare the stock price return volatility, no of the transaction, and delivery percentage of various listed companies listed on BSE during the pre and post COVID 19 periods to examine the effect of this pandemic on the economy as a whole.
LQ 45 CAPITAL MARKET REACTION SPEED DURING COVID-19 PANDEMICAJHSSR Journal
ABSTRACT : The study explored the speed of market reaction on the LQ-45 index on the Indonesia Stock
Exchange before and after the Covid-19 pandemic eventthe estimation period is generally the period before the
event period carried out using the estimation period for 60 days before the event day. The reason for taking the
research period (event period) t-3 and t4 or in this study t-5 and T+5 is to avoid any confounding effect due to the
announcement of stock splits, mergers, and rights issues.The results of the study using the event study approach
in the Covid-19 pandemic event show that this event has information content, the reaction is shown by changes
in the price of securities, this is shown by an abnormal increase in stock returns during the pandemic. This can be
seen from T-5 to T-0 which moves in a volatile manner. But at the time of t + 2 experienced a drastic increase to
t+5.Based on the results of the analysis and testing that has been done previously, there are several things that can
be concluded that there are significant differences in lq45 stock prices and stock returns before and after the
National announcement of the Covid-19 outbreak. The existence of Covid-19 cases in Indonesia caused the stock
price to decline, it was certainly offset by a decrease in the value of stock returns.
KEYWORDS: Reaction speed, LQ-45, Covid-19, Event Study, Abnormal return
This document summarizes a study that examines the impact of Covid-19 on stock price movements in Indonesia. It analyzes stock prices before and after four Covid-19 related events: the Wuhan lockdown, Italy lockdown, confirmation of the first Covid-19 case in Indonesia, and the implementation of large-scale social restrictions. The study finds a difference in abnormal stock returns before and after the large-scale social restrictions event but no differences for the other three events. It uses an event study methodology and secondary stock price and news data to conduct the analysis.
Impact of corona virus on Indian economy ruchi saini
The document discusses the impact of the COVID-19 pandemic on the Indian economy. It summarizes that the Indian economy was already weak before the pandemic and lockdowns have further slowed growth significantly. The stock market initially crashed but has since rebounded somewhat on hopes of stimulus measures and peaking infection rates. Key sectors impacted include aviation, textiles, finance, MSMEs and more. The paper analyzes the situation pre- and post-crisis and effects on GDP, unemployment and various sectors.
This document discusses a study that examines the effect of the COVID-19 pandemic on corporate dividend policy in Indonesia. The study uses static and dynamic panel data approaches to analyze data from non-financial companies listed on the Indonesia Stock Exchange from 2014 to 2020. The results of the static panel data regression show that profitability and previous year dividends positively affect dividend policy. The dynamic panel data regressions indicate that in addition to those variables, age affects dividend policy, financial leverage has an effect, and firm size has an effect in different directions, while investment opportunity does not affect dividend policy. The study aims to provide insights for investors on corporate dividend policies during the pandemic.
Effect of Changes in Earning on Stock Prices of Listed Healthcare Sector of t...ijtsrd
Nowadays, information on stock price movement has become paramount in making an investment decision and a good knowledge of the factors that determine stock prices and the ability to predict stock prices are added advantages in the developing economies. Therefore, this study seeks to determine the impact of earnings on the stock price of healthcare firms in Nigeria. The study relied on the linear panel modeling approach of fixed effect and random effect while the Hausman test was applied for the model selection. The panel data set used for the study was sourced from the NSE annual fact book for the periods 2011 to 2020. The result of the random effect model estimated revealed that earnings per share EPS , dividend yield DDY and firm size FSZ have no significant impact on the stock price of healthcare firms in Nigeria. The only exception is book value per share BVPS which is positive and had a significant impact on the stock prices of healthcare firms in Nigeria at the 0.01 significant levels. This study, therefore, concludes that BVPS is the perfect predictor of stock price movement in the healthcare sector. As a result, the study recommends among other findings that Book Value per Share should be considered when making investment decisions in the healthcare firms in Nigeria. Aniedozie Obiamaka Mercy | Prof Alphonsus S. Anichebe | Dr. Emeka-Nwokeji, N. A "Effect of Changes in Earning on Stock Prices of Listed Healthcare Sector of the Nigerian Stock Exchange" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4 , June 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50335.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50335/effect-of-changes-in-earning-on-stock-prices-of-listed-healthcare-sector-of-the-nigerian-stock-exchange/aniedozie-obiamaka-mercy
The Impact of the down stop of JCI on Investment Interest of the Milenial Gen...AJHSSR Journal
ABSTRACT: This study aims to analyze the impact of the decrease in the Composite Stock Price Index (IHGS)
on the investment interest of the millennial generation in the revolution. The COVID-19 pandemic has affected
economic conditions, especially markets and industry this year. The Covid-19 pandemic had an impact on
decreasing economic growth, decreased investment in the capital market, which was marked by the weakening
of the Composite Stock Price Index on the Indonesia Stock Exchange. This study aims to analyze changes in the
Composite Stock Price Index during the Covid-19 pandemic. The research method used is descriptive and
verification methods with a qualitative approach. This Composite Stock Price Index affects the investment
interest of investors in investing their capital in companies that are on the Indonesia Stock Exchange. However,
in its development in recent years, the composite stock index has decreased. This has led to investors, one of
whom is thinking back to investing in companies on the Indonesian stock exchange. This impact causes
investors to decrease due to fluctuating share prices. However, this causes new investors to come to buy stocks
which are currently plummeting. This is because stocks are a long-term instrument that will grow together with
existing market values.
KEYWORDS: JCI, Revolution 4.0, Investment, Millennial, Pandemic Covid-19
This document summarizes a study that analyzed the reaction of Indian stock indices and investors to different categories of news announcements during the COVID-19 pandemic. The study identified 31 days with extreme stock market returns between February 2020 and June 2021. It grouped the news from those days into 4 categories and examined the reaction of indices like the BSE Sensex and investors like clients, FIIs, and DIIs. The results found a statistically significant difference between the two news announcement groups for stock indices but not for investors. Most of the return series were found to be random, and no day-of-the-week effect was found for investor investment patterns. The impact of negative COVID-19 news was reduced by government interventions, and stock market
Sector Wise Stock Market Performance during Pre and Post Covid EraDr. Amarjeet Singh
The spread of the Covid-19 pandemic has an unprecedented and immense impact on the world economy as well as the Indian economy. The stock market, treated as a barometer of the economic activity of any country is adversely affected. Not even in India, countries like Germany, France, the USA, and Spain have been strongly affected. Nationwide lockdown, restriction on the transportation system, demand-supply disequilibrium lead to slow down in the economy and create a fear factor among the participants of the capital market. Rapid fall in the share price and increased volatility are identified during this period. The present study tries to compare the stock price return volatility, no of the transaction, and delivery percentage of various listed companies listed on BSE during the pre and post COVID 19 periods to examine the effect of this pandemic on the economy as a whole.
LQ 45 CAPITAL MARKET REACTION SPEED DURING COVID-19 PANDEMICAJHSSR Journal
ABSTRACT : The study explored the speed of market reaction on the LQ-45 index on the Indonesia Stock
Exchange before and after the Covid-19 pandemic eventthe estimation period is generally the period before the
event period carried out using the estimation period for 60 days before the event day. The reason for taking the
research period (event period) t-3 and t4 or in this study t-5 and T+5 is to avoid any confounding effect due to the
announcement of stock splits, mergers, and rights issues.The results of the study using the event study approach
in the Covid-19 pandemic event show that this event has information content, the reaction is shown by changes
in the price of securities, this is shown by an abnormal increase in stock returns during the pandemic. This can be
seen from T-5 to T-0 which moves in a volatile manner. But at the time of t + 2 experienced a drastic increase to
t+5.Based on the results of the analysis and testing that has been done previously, there are several things that can
be concluded that there are significant differences in lq45 stock prices and stock returns before and after the
National announcement of the Covid-19 outbreak. The existence of Covid-19 cases in Indonesia caused the stock
price to decline, it was certainly offset by a decrease in the value of stock returns.
KEYWORDS: Reaction speed, LQ-45, Covid-19, Event Study, Abnormal return
This document summarizes a study that examines the impact of Covid-19 on stock price movements in Indonesia. It analyzes stock prices before and after four Covid-19 related events: the Wuhan lockdown, Italy lockdown, confirmation of the first Covid-19 case in Indonesia, and the implementation of large-scale social restrictions. The study finds a difference in abnormal stock returns before and after the large-scale social restrictions event but no differences for the other three events. It uses an event study methodology and secondary stock price and news data to conduct the analysis.
Impact of corona virus on Indian economy ruchi saini
The document discusses the impact of the COVID-19 pandemic on the Indian economy. It summarizes that the Indian economy was already weak before the pandemic and lockdowns have further slowed growth significantly. The stock market initially crashed but has since rebounded somewhat on hopes of stimulus measures and peaking infection rates. Key sectors impacted include aviation, textiles, finance, MSMEs and more. The paper analyzes the situation pre- and post-crisis and effects on GDP, unemployment and various sectors.
This document discusses a study that examines the effect of the COVID-19 pandemic on corporate dividend policy in Indonesia. The study uses static and dynamic panel data approaches to analyze data from non-financial companies listed on the Indonesia Stock Exchange from 2014 to 2020. The results of the static panel data regression show that profitability and previous year dividends positively affect dividend policy. The dynamic panel data regressions indicate that in addition to those variables, age affects dividend policy, financial leverage has an effect, and firm size has an effect in different directions, while investment opportunity does not affect dividend policy. The study aims to provide insights for investors on corporate dividend policies during the pandemic.
Cash Flow Activities and Stock Returns Evidence from Nigerian Consumer Goods ...ijtsrd
Proponents believe that increase in cash flows could potentially increase the stock returns of consumer goods firms quoted in Nigeria Stock Exchange while opponents argue and equally criticize that fact. Hence, this study examined the effects of cash flow on stock returns of consumer goods firms for a period of 2010 2019. The study was anchored on agency theory. Panel data were gotten from the Nigerian Stock Exchange NSE and the data collected were analyzed using multiple regression analysis. The findings revealed Cash flows from operating activities has no significant effect on stock returns of consumer goods firms in Nigeria, cash flow from investing activities does not have significant effect on the stock returns of consumer goods firms in Nigeria, Cash flows from financing activities has no significant effect on stock returns of consumer goods firms in Nigeria, Free cash flow has positive and significant effect on stock returns of consumer goods firms in Nigeria. On the basis of the findings of the study, it was recommended among others that there is need for consumer goods industry to improve on their operating cash flow by making money available for this purpose for the general benefit of the economy. The management should embark on effective intermediation drive which will provide deep source of fund for this industry. Government should adopt a viable policy that will enable this industry to expand their scope of business and firm size of this industry should be improved. The study also revealed that if free cash flow will be well managed, it will affect the stock returns policy of a firm positively. Ojimba, Francisca | Okegbe, T. O. | Ifurueze, M. S. "Cash Flow Activities and Stock Returns: Evidence from Nigerian Consumer Goods Firms" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47626.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47626/cash-flow-activities-and-stock-returns-evidence-from-nigerian-consumer-goods-firms/ojimba-francisca
48 variable macroeconomics on stock return 25 ags 2019Aminullah Assagaf
This study examines the effect of macroeconomic variables (inflation, interest rates, money supply, exchange rates) on stock returns of companies listed on the Indonesia Stock Exchange from November 2016 to June 2018. Using multiple linear regression analysis on monthly data, the study found that macroeconomic variables have a significant effect on stock returns. Specifically, changes in inflation rates, interest rates, money supply, and the Rupiah exchange rate influence the overall stock price index and company stock returns in Indonesia. The results indicate macroeconomic conditions impact stock market performance.
This research article studies the factors that influence underpricing of initial public offerings (IPOs) in the manufacturing sector in India from 2010 to 2017. Previous research has found that financial factors like ownership retention, issue size, firm age, debt-equity ratio, and net asset value, as well as non-financial factors like underwriter reputation and venture capital funding influence IPO underpricing. However, no previous study has examined the impact of factors like net worth to total assets, qualified institutional buyer allocation, earnings per share, return on net worth, IPO grading, and green shoe options on IPO underpricing in India. This study aims to fill that gap by analyzing the effect of these additional factors on underpricing in the
Effect of Voluntary Disclosure on Corporate Performance of Quoted Manufacturi...ijtsrd
The objective of the study is to examine the effect of voluntary disclosure on corporate performance of quoted manufacturing companies in Nigeria. The study specifically examined the effect of voluntary disclosure on ROA, ROE, and NPM. The population of the study was drawn from manufacturing firms quoted on the floor of the Nigerian Stock Exchange. financial year. The study was based on secondary sources of data, collected from annual financial reports. The study used content analysis to analyse the voluntary disclosure items. The study finds that voluntary disclosure has a significant negative effect on profitability return on assets, return on equity and net profit margin . The study therefore recommends, among others, manufacturing firms to enhance voluntary disclosure based on a cost benefit analysis of such, and also, help “bridge the gap†between financial numbers and the true economics underlying the company’s transaction. Voluntary disclosure is also recommended as a medium to curtail the shenanigans of earnings management. Ikemefuna, Victor C. | Onuora, J. K. "Effect of Voluntary Disclosure on Corporate Performance of Quoted Manufacturing Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42600.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42600/effect-of-voluntary-disclosure-on-corporate-performance-of-quoted-manufacturing-companies-in-nigeria/ikemefuna-victor-c
This research article analyzes the relationship between Foreign Portfolio Investor (FPI) inflows and returns of the Nifty 50 index of the National Stock Exchange of India. Daily data on FPI flows and Nifty returns from January 2016 to June 2017 is used to test for feedback trading between the variables using vector autoregression and Granger causality tests. The results suggest that FPI flows are influenced by past Nifty returns but not vice versa. When the data frequency is changed to monthly, feedback trading is not observed. The study aims to better understand how FPI investments impact the Indian stock market and vice versa.
This document summarizes a research article that examines the influence of debt-to-equity ratio (DER) and current ratio (CR) on return on equity (ROE) and price-to-book value (PBV) for food and beverage companies listed on the Indonesian Stock Exchange from 2014 to 2019. The results found that DER and CR had a positive and significant effect on ROE, but a negative and insignificant effect on PBV. ROE was found to mediate the effect of DER and CR on PBV.
Paper Romario_International Conference On Finance 2015Romario Justinus
Representative of Trisakti School Of Management for International Conference On Finance, as presenter of my research jounal, Bali 19-20 Dec 2015 (presenting my research journal). I make research on the topic dividend payout ratio and I presented the research as well as questions and answers in the International Conference On Finance, Bali Dec. 19-20, 2015. The conference was attended by researchers and academics in finance from around the world such as William Megginson of Oklahoma University and Roni Michaely of Cornell University, the results is my research has been the international research journal IFMA (The Indonesian Financial Management Association).
Covid 19 How to Minimize Uncertainties, Increase Confidence and Achieve Econo...ijtsrd
COVID 19 pandemic has caused the economic slowdown, worldwide. The contraction into the economy has been experienced. To revive the economy from current economic crisis due to the pandemic, monetary and fiscal policies both have important role. In this paper, some suggestions and solutions are given to revive the economy from this economic crisis. Some Monetary and fiscal policies are already in practice to stabilize the economy. Those policies are also analyzed. Increasing confidence among the producers and the investors is important to revive the economy. Kirti Devi "Covid-19: How to Minimize Uncertainties, Increase Confidence and Achieve Economic Stability in India?" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33565.pdf Paper Url: https://www.ijtsrd.com/economics/other/33565/covid19-how-to-minimize-uncertainties-increase-confidence-and-achieve-economic-stability-in-india/kirti-devi
The essential variables to consider before investing in financial markets dur...AI Publications
The current study aimed to investigate the essential factors to be taking into consideration prior starting an investment in financial markets especially during Covid-19 era. Individual investors are those who make purchases of securities on behalf of other individuals. Most of the time, these investors trade in modest quantities and are primarily interested in the operations of the stock exchange. Quantitative method used in this study to analyze data. The researcher used a questionnaire and distributed in four banks in Erbil city. The researcher used random sampling method in order to gather data from private banks in Erbil city. The population of this study was approximately 210 units. The target population was 142 units. The researcher distrusted 150 questionnaires at four different private banks, from 150 questionnaires; the researcher was able to gather 128 questionnaires that have been completed properly. Accordingly, the sample size of this study was 128 units.The questionnaire was designed in a multiple choise quesirons. The respondents were asked to mark each question on five scales ranging from strongly disagree to strongly agree. The findings revealed that, in terms of first research hypothesis, economnic growthhas significantly predicted financial markets, this indicates that economnic growthwill have a direct positive impact on financial markets. In terms of second research hypothesis, employment patternshas significantly predicted financial markets, this indicates that differnation strategy will have a weak positive impact on financial markets, and in terms of third research hypothesis, demographic trendshas significantly predicted financial markets, this indicates that demographic trendswill have a weak positive impact on financial markets.
Impact of Accounting Information on Stock Price Volatility (A Study of Select...inventionjournals
This document summarizes a research study that examined the impact of accounting information on stock price volatility of selected quoted manufacturing companies in Nigeria from 2005-2014. The study used annual report data from 5 manufacturing companies, including earnings per share, book value per share, price-earnings ratio, and dividend per share. The results of the analysis found that accounting information has a strong positive significant impact on stock price volatility. Therefore, reliable accounting information is important for investors to make informed decisions and for companies to have less volatile stock prices. The study recommends proper regulation of accounting information disclosure to increase transparency.
Investment is one of the most essential activities to be developed in young generations, especially
among Generation Z. One of the most popular investment instruments in Indonesia is stock investment.
Technology advancements in the current digital era have made it easier for Generation Z to actively participate
in the stock market.
This document summarizes a research article that examines the effects of COVID-19 on digital marketing, customer relationship management (CRM), and business performance. It finds that the COVID-19 pandemic has negatively impacted business performance but that this can be mitigated by adopting digital marketing strategies and building strong CRM. It proposes that digital marketing and CRM can help improve business performance during the pandemic by allowing businesses to better reach and engage customers online. The conceptual study is based on previous empirical research showing the relationship between these variables.
Impact of Foreign Institutional Investments on Indian Stock MarketAnantha Bellary
This document examines the contribution of foreign institutional investment to the Indian stock market from 2007-2012. It analyzes the correlation between foreign institutional investment (FII) inflows and the BSE Sensex and S&P CNX NIFTY indices. The study finds a positive but moderate correlation between FII inflows and the two indices, with FII influencing around 15-16% of their movements. However, the study concludes that while FII have some impact, other factors like economic conditions and government policies have a greater influence on the Indian stock market.
Current Trends and Issues in Foreign Direct Investment Post Covid 19 Pandemicijtsrd
This document summarizes a research paper on current trends and issues in foreign direct investment (FDI) post-COVID-19 pandemic. The research paper aims to analyze key factors that contributed to the decline in FDI in recent years and suggest ways to revive FDI. It discusses that FDI declined significantly due to the pandemic's economic slowdown. Issues leading to the FDI decline include contradiction between sovereign rights and investment protection, lack of transparency, corruption, and economic uncertainty. Nations are focusing on sustainable development and incentive policies to attract more FDI post-pandemic. The research uses secondary data and literature to identify problems and recommend policy solutions to improve the FDI situation.
Government expenditure is a very instrumental demand tool in achieving economic stability and policy makers frequently use it to influence certain economic outcomes. Government expenditure majorly consists of two components: investment and consumption components. Many researchers concede that higher level of government consumption expenditure is growth retarding and therefore undesirable. The aim of this paper was to establish the economic determinants of government consumption expenditure in Kenya. The results showed that in the long-run, while 1USD increase in GDP causes USD1.3 increase in government consumption expenditure, a unit increase in inflation rate would cause USD1.8 increase in consumption expenditure. However, 1USD increase in foreign direct investment and external debt stock causes, respectively, USD 0.07 and USD 2.6 drop in government consumption expenditure. Corruption, democracy and political instability have positive effects on government consumption expenditure in Kenya. Urbanization and population dynamics jointly affect the variable in the short-run. This paper recommends that the government should strengthen its institutions that are mandated to deal with graft cases, create peaceful political setting at all times and ensure a friendly environment to foreign investors.
Empirical Methods In Accounting And Finance.docx4934bk
This document discusses several studies on the relationship between investor sentiment and the mean-variance relationship in stock markets. It summarizes the key findings of various papers, including that investor sentiment can undermine the positive relationship between risk and return during high sentiment periods. Principal component analysis and GARCH models are used to analyze the impact of sentiment on markets. The results show sentiment has a significant effect and that the relationship varies across different markets and sentiment states.
FINANCIAL DEEPENING AND FOREIGN DIRECT INVESTMENT IN NIGERIAAJHSSR Journal
ABSTRACT : This study examined the impact of FDI on financial deepening in Nigeria from 1980 to 2022.
The research questions address the trend of FDI and financial deepening in Nigeria and the relationship between
the two variables. The study will used econometrics analysis basically cointegration and error correction model
to estimate the relationship between FDI and financial deepening . The findings of this researchrevealed that
foreign direct investment exert significant impact on financial deepening in Nigeria along the long run and short
run horizon. The findings have implications for policymakers, the Nigerian government, investors, and
businesses. Understanding the impact of FDI on financial deepening helpssuggests appropriate policy measures
and strategies to enhance Nigeria's financial sector and spur economic growth. Additionally, the study
contributes to the existing literature on FDI and financial deepening, providing valuable insights for future
research in this area.
KEY WORDS: Foreign Direct Investment; Financial Deepening; Relationship
New Evidence on the Determinants of Foreign Direct Investments in Emerging Ma...ijtsrd
The main goal of the current study is to investigate how conventional and institutional factors affect foreign direct investment in particular global emerging markets. The study specifically seeks to determine the impact of GDP Growth, Population Growth, Level of Inflation, Trade Openness, Voice and Accountability, Rule of Law, Control of Corruption, Political Stability, and Government Effectiveness which are institutional determinants on FDI Inflows towards the Global Emerging Markets. To approach the research question a panel regression analysis has been applied by leveraging annual data from 18 countries, namely Angola, Brazil, Chile, China, Colombia, Egypt, Ghana, India, Indonesia, Malaysia, Mexico, Nigeria, Peru, Philippines, Singapore, South Africa, South Korea and Vietnam. Findings show that inflation and GDP have a significant and positive effect on the FDI inflows, while Voice and Accountability is significant but negative towards the examined variable. Manolis I. Skouloudakis "New Evidence on the Determinants of Foreign Direct Investments in Emerging Markets: A Panel Data Approach" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-2 , April 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd56212.pdf Paper URL: https://www.ijtsrd.com.com/economics/international-economics/56212/new-evidence-on-the-determinants-of-foreign-direct-investments-in-emerging-markets-a-panel-data-approach/manolis-i-skouloudakis
Imparting Engineering Properties in Dune Sand by Modifying it using Epoxy Res...ijtsrd
Since a few decades ago, soil has been a key component in many civil engineering projects, including the construction of embankment dams, roads, and building structures. It would be cost effective to employ the soil that is readily available nearby for construction. Its possible that the soil being utilized wont always have the characteristics needed for the intended usage. As a result, the soils qualities, like strength and durability, are enhanced in some way to meet the needs. The practice of altering the qualities of soil to meet certain engineering requirements is known as soil stabilization. This in length research was carried out mainly To stabilize the dune sand, the following combinations employing various additives were developed using varied percentages of Epoxy Resin, namely 2.5 , 3.5 , 4.5 , 5 , 6 , and 7 by mixing 5 Stone Dust Waste and 10 Stone Dust Waste and 10 , 15 , and 20 of a 1 4, 1 5and 1 6 mixture of lime and fly ash with dune sand. It has been discovered that mixtures comprising 10 and 15 of 1 Lime 5 Fly Ash produce superior strength values for all curing durations. Additional Fly Ash content increases do not result in higher strength values for various curing times. This could be because the quantities utilised in the mixtures above are sufficient to finish the pozzolanic action of the fly ash, and additional addition would not be effective for increasing the strength levels. Mix compositions of 5 epoxy resin and 5 and 10 stone dust waste respectively gain roughly 70 of their 28 day strength in just 3 days, indicating their potential for emergent constructions. So, this study is to make out something useful out of Dune Sand a civil engineering nightmare. The purpose of this study is to find a useful use for industrial trash that would otherwise be useless and take up a lot of space. The land could be used for other construction projects. The cost of the proposed structure would undoubtedly be reduced by using industrial wastes. There are many additional waste materials, and future research may look into their potential for effective utilisation Dishabal Singh Grover | Mr. Shashi Sharma "Imparting Engineering Properties in Dune Sand by Modifying it using Epoxy Resin, Stone Dust Waste and Lime Fly Ash" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52060.pdf Paper URL: https://www.ijtsrd.com/engineering/civil-engineering/52060/imparting-engineering-properties-in-dune-sand-by-modifying-it-using-epoxy-resin-stone-dust-waste-and-lime-fly-ash/dishabal-singh-grover
Stock Market Analysis of 10 Different Countries in the Period of Disease COVI...Dr. Amarjeet Singh
Our effort is to analyze the effect of the rampant over the economies of 10 affected nations by studying their stock market values during the COVID-19 episode. We have endowed the nations with their respective stock markets stated in brackets - Brazil(Ibovespa), Canada (S&P/TSX Composite), France (AEX), Germany (DAX 30), India (NIFTY 50), Italy (FTSE MIB), Russia (IMOEX), Spain (IBEX 35), U.K. (FTSE 100), U.S.A. (DOW JONES INDUSTRIAL AVERAGE). We have gathered the indices of stock per country from 2 March to 23rd June, collected from official website of respective stocks. In order to collect data, we had to inculcate the fundamental lessons of Statistics. R-software aided us to plot the curves of stock values providing an ease to master our project. We also formulated a Python 3.7 language program code to solidify analysis on various aspects of economy of the countries and comparison between these aspects.
Ihe problem in this study is that the marketing performance of local cafes in Lubuklinggau City has not
been maximized in promotion through social media. So that it affects sales volume, customer growth and
profitability. This study uses the methods of data collection, observation, direct interviews, and
documentation. The results of the study indicate that social media is used as a promotional tool at local
cafes in Lubuklinggau City, but has not been used optimally in several research objects, resulting in
reduced customer loyalty. It can be concluded that social media will help the marketing performance of a
business if it is managed properly and optimally.
Penelitian ini bertujuan untuk menguji secara empiris pengaruh lingkungan kerja dan
disiplin kerja terhadap kinerja pegawai pada Dinas Badan Penelitian Dan Pengembangan
Kabupaten Musi Rawas. Populasi dalam penelitian ini adalah pegawai Dinas Badan
Penelitian Dan Pengembangan Kabupaten Musi Rawas.
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How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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and fund managers are adopting more selling policies than buying. It is not influenced by rational considerations,
but by friction season panicked factor.
The first step in the event of panic is to sell large amounts of stock until the sale of the stock exceeds the
reasonable limit, as a result of which the stock price in the market falls and becomes very cheap. This situation
will also result in an increase in the volume of stock transactions, because the stock price is very cheap and
accompanied by sufficient investor liquidity, so it will be an opportunity to buy shares with good prospects at a
low price (Investor.id, 2020). The fact that the stock price index is down and transaction volumes are increasing
due to the COVID-19 pandemic is now at the heart of much research.
Research results from (Febriyanti, 2020) Showing abnormal returns before and after the country announced
COVID-19 there was a significant difference that caused the company's stock price to fall, and for trading volume
activity there was also a significant difference so that the transaction volume increased (Febriyanti, 2020).
So that it can be seen when The state of a company may be seen through a number of different sources,
including the turnover that the firm has received, as well as the stock price of the company. The amount of
supply and demand for the stock is reflected in the price of the stock. If there is a higher demand for the stock,
then the price of each share will go up as well. In the meantime, if there is a decline in demand for these shares,
the price of each share will likewise decrease .
Further research conducted by (Nurmasari, 2020), Shows that there is a significant difference in the share
price and transaction volume at PT Ramayana Lestari Sentosa, Tbk before and after the country announced the
first case of COVID-19. The results of his research showed that the stock price decreased and the volume of
transactions increased (Nurmasari, 2020). On the other hand, in the research conducted by (Ashraf, 2020),
Shows that a strong response occurs in the capital market to the increase in the number of confirmed cases of
COVID-19, while the number of deaths indicates a weak response (Ashraf, 2020).
But, further research conducted by (Agustiawan & Sujana, 2020). Show, there is no significant difference
between average abnornal return and trading volume activity in LQ45 stocks before and after the COVID-19
announcement in Indonesia. So this shows that there is no change in the price and volume of transactions on
the LQ45 shares (Agustiawan & Sujana, 2020).
Various studies have been conducted related to the impact of COVID-19 in the capital market, but no one
has focused on the impact of COVID-19 on state-owned enterprises. Where the shares of BUMN are most
affected by COVID-19, which is about 90%. Shares in SOEs experienced a sharp decline so that SOE funding
fell by about 37.8%, while non-SOEs fell by about 25.4% (Jatmiko, 2020). Stock sales have exceeded reasonable
levels, indicators of panic have surpassed the year at 2008 financial crisis (Investor.id, 2020). Therefore, in this
research will be focused on BUMN shares, especially those listed on LQ45.
Based on several previous studies, whose research results explained that there is a difference and there is no
difference between the stock price and transaction volume before and after the announcement of COVID-19 in
Indonesia, accompanied by the absence of research explaining that there is or is no influence between the number
of positively confirmed cases of COVID-19 on stock prices and transaction volume, researchers are interested in
taking the title "Impact of Covid-19 on Changes in Share Price and Transaction Volume in BUMN listed on
LQ45". Because if the stock price is high, then the value of the company will also be high, and this represents a
high degree of investor trust in the firm that issued the shares, if the stock price is high, then the value of the
company will also be high (Wiagustini, 2010). And if the value of the current ratio is high, it can increase the
interest of investors to participate in investing by buying shares from the company, which then causes the stock
price to increase going up. Moreover, if the value of the current ratio is low, it can decrease the interest of
investors to participate in investing.
Based on the background that has been outlined above, the research question is formulated, Is there a
significant difference between the share pricein in BUMN listed on LQ45 before and after the national
announcement of cases COVID-19 in Indonesia? Is there a significant difference between the volume of
transactions in BUMN listed on LQ45 before and after the national announcement of COVID-19 cases in
Indonesia? Is there a significant influence between the number of positively confirmed cases of COVID-19 and
the share price of in BUMN listed on LQ45 during a COVID-19 pandemic in Indonesia? and is there a significant
influence between the number of positively confirmed cases of COVID-19 on the volume of transactions in
BUMN listed on LQ45 during the COVID-19 pandemic in Indonesia?
This research is expected to provide benefits such as expected to enrich knowledge about COVID-19, stock
prices and transaction volume in a company. For investors, this research can be used as a reference for investors
when they want to plant shares in the capital market by looking at stock price movements, as well as
opportunities to transact shares in state-owned enterprises listed on LQ45.
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Impact of Covid-19 on changes in stock prices and the volume of …
Methods
Type of research
The research methods used in this research are quantitative research methods with comparative and associative
research types. Where quantitative research methods are research methods in the form of numbers and will be
analyzed by usingstatistics (Sugiyono, 2009). Comparative research is a study that aims to compare one or more
variables, on two or more different samples, or at different times.
The study was conducted with the aim of comparing the share price and transaction volume of shares in
SOEs listed on LQ45 before and after the national announcement of the COVID-19 pandemic in Indonesia.
Associative research is a study that aims to find out the relationship of two or more variables. The study was
conducted with the aim of finding out if there was a significant influence between the number of positively
confirmed cases of COVID-19 on stock prices and transaction volumes in SOEs listed on LQ45 during the
COVID-19 pandemic inIndonesia.
Research Objects
Object in this study is a state-owned company listed on the Indonesia Stock Exchange and included in the LQ45
index and has a complete report of stock price and daily transaction volume data during the period 20 January
2020 - 15 April 2020.The company consists of PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Tabungan
Negara Tbk (BBTN), PT Perusahaan Gas Negara Tbk (PGAS), PT Pembangunan Perumahan (Persero) Tbk
(PTPP), PT Wijaya Karya Tbk (WIKA), and PT Waskita Karya Tbk (WSKT).
Research Variables
A research variable is an attribute, trait, value of a person, object, activity or activity carried out and in it there
is a variation between people or between objects, which is then determined by the researcher to be studied and
understood, thena conclusion is drawn (Sugiyono, 2009).
Operational of Variables
The operational definition of the research variables used in this study can be seen in the following table:
Table 1. Operational of Variables
No Variable Definition of Variables Indicator Skala
1. COVID-19
(X)
COVID-19 is a respiratory tract disease caused
bysars-COV-02 virus attack or Severe Acute
Respiratory Syndrome Corona Virus.2
(Mangindaan & Manosoh, 2020)
COVID-19 Positive
Confirmed Case
Numbers
(Covid19.go.id,
2020b)
Ratio
2. Share Price
(Y1)
A stock price is the value of a stock that
indicates the wealth of the company issuing the
shares, and their changes or fluctuations
depend on the relationship between demand
and supply on the stock market. (Ushuaia &
Prabawani, 2016)
Closing Price (Umam
& Sutanto, 2017b)
Ratio
3. Transaction
Volume
(Y2)
The volume of stock transactions is the number
of shares of a company traded on the stock
market within a certain period of time.
(Wicaksono & Adyaksana, 2020)
Volume
(Umam & Sutanto,
2017b)
Ratio
Source : (Ushuaia & Prabawani, 2016), (Umam & Sutanto, 2017a) , (Wicaksono & Adyaksana, 2020),
(Covid19.go.id, 2020a)
Data Collection Techniques
The data source used includes secondary data, the data used is from January 20, 2020 to April 15, 2020. The
data collection technique used inthis researcher is observation, data collection by way of direct observation of
COVID-19 positive confirmed case number data, stock price data and transaction volume data of state-owned
enterprises listed on LQ45 through the official website of the Indonesia Stock Exchange and yahoo finance. As
well as documentation, the data collection by recording the number of positively confirmed cases of COVID-
19, stock price and transaction volume are used as variables in the study.
Data Analysis Techniques
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Normality Test
A normality test is a process used to find out if the data to be used comes from a normal distributed population.
A normal distribution is a symmetrical distribution in which the mode, mean and median are in the middle or
at the center. In this study, the normality test will be conducted using the non-parametric statistical test
Kolmogrof-Smirnov (K-S), with decision-making guidelines that are if the value is significant > 0.05, then the
variable is normal distribution. Then if the significant value < 0.05, then the variable does not distribute normally
(Nuryadi et al., 2017).
Paired t-test
Paired t-test is a method of testing hypotheses using data that is not free (paired). The most common feature
found in paired situations is that a person (the subject of the study) receives two different treatments. Although
with the same person, researchers still obtained two kinds of sample data, namely data from the first treatment
and data from the second treatment (Nuryadi et al., 2017).
Wilcoxon Signed Rank Test
Wilcoxon Signed Rank Test or known as Wilcoxon Match Pair is a non-parametric test to analyze the
significance of differences between two paired data but does not distribute normally (Sugiyono, 2009). The
Wilcoxon Signed Rank Test is an alternative test of the Paired t-Test if the data does not meet the assumption
of normality (Febriyanti, 2020). The decision-making criteria in the Wilcoxon Signed Rank Test is that if the
Asymp Sig (2-tailed) < 0.05 then there is a significant difference between the two sample groups (Suyanto &
Gio, 2017).
Path Analysis
Pathway analysis is a development of the regression model, which is used to test the suitability (fit) of the
correlation matrix of two or more models compared by researchers. Usually circle diagrams and arrows are used
to show causality in the depiction of the model. Regression is performed for each variable in the model. The
regression value predicted by the model is compared to the matric correlation of the observed variable and the
goodness-of-fit value is calculated (Ghozali, 2017).
Result and Discussion
Normality Test Results of Share Price
Table 2. Normality of Stock Price Test
Unstandardized Residual
N 180
Normal Parametersa,b
Mean 0,0000000
Std. Deviation 309,14912751
Most Extreme Differences Absolute 0,047
Positive 0,047
Negative -0,032
Test Statistic 0,047
Asymp. Sig. (2-tailed) 0,200c,d
a. Test distribution is Normal.
b. Calculated from data.
c. Lilliefors Significance Correction.
d. This is a lower bound of the true significance.
Source: Primary Data Processing, 2021
Table 2 is the result of the Kolmogrov-Smirnov Normality Test for Share Price. Based on the table it can be
seen that the stock price has a value of AsympSig. (2- tailed) of 0.200 where 0.200 > 0.05. This can indicate that
the data is normal.
Normality Test Results of Transaction Volume
Table 3 is the result of the Kolmogrov-Smirnov Normality Test for Transaction Volume. Based on the table, it
can be seen that the transaction volume obtained the value of Asymp Sig. (2-tailed 0.000 where 0.000 < 0.05.
This can indicate that the data is being distributed abnormally. So that for the next stage will be tested using a
non-parametric test, the Wilcoxon Signed Rank Test.
Table 3. Normality of Transaction Volume Test
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Impact of Covid-19 on changes in stock prices and the volume of …
Unstandardized Residual
N 180
Normal Parametersa,b
Mean 0,0000000
Std. Deviation 35617512,07195147
Most Extreme Differences Absolute 0,161
Positive 0,161
Negative -0,125
Test Statistic 0,161
Asymp. Sig. (2-tailed) 0,000c
a. Test distribution is Normal.
b. Calculated from data.
c. Lilliefors Significance Correction.
Source: Primary Data Processing, 2021
Paired Samples Statistics Results
Share Price
Table 4. Paired Samples Statistics Stock Price Test
Mean N Std. Deviation Std. Error Mean
Pair 1 Price Before 2,023.72 180 1,090.153 81.255
Price After 1,271.73 180 950.333 70.834
Source: Primary Data Processing, 2021
Table 4 shows the results of descriptive statistical tests of stock prices prior to the national announcement of
COVID-19 cases in Indonesia and after the national announcement of COVID-19 cases in Indonesia. It can be
seen that the average value of the stock price before the national announcement of COVID-19 cases in Indonesia
is IDR 2,023.72 and the average value of the share price after the national announcement of COVID-19 cases
in Indonesia is IDR. 1,271.73. From the table it can be known that the average value of the stock price decreased
after the national announcement of COVID-19 cases throughout Indonesia.
Table 5. Paired Samples Correlations Stock Price
N Correlation Sig.
Pair 1 Price Before &Price After 180 0,959 0,000
Source: Primary Data Processing, 2021
Table 5 shows the results of the correlation test between both data or variable relationships between stock
prices prior to the national announcement of COVID-19 cases in Indonesia and stock prices after the national
announcement of COVID-19 cases in Indonesia. Based on the table, it can be seen that the correlation coefficient
valueis 0.959 with a significance value of 0.000 < probability of 0.05, it can be concluded that there is a
relationship between the stock price before the national announcement of COVID-19 cases in Indonesia and the
stock price after the national announcement of COVID-19 cases in Indonesia.
Table 6. Paired Samples Stock Price Test
Paired Differences t df.
Sig
(2-tailed)
Mean Std Deviation Std Error
Pair 1
Price Before &Price
After
751,983 323,436 24,107 31,193 179
0,000
Source: Primary Data Processing, 2021
Table 6 shows the results of the paired samples test of the stock price. Based on these results it can be known
that the value of significance or Sig (2 tailed) is 0.000 which indicates that the significance result is less than 0.05.
Wilcoxon Signed Rank Test Results
Transaction Volume
Table 7 shows the results of the output hypothesis test wilcoxon signed rank test transaction volume. Based
on these results it can be known that the value of significance or Asymp Sig (2 tailed) is 0.000 which indicates
that the significant resultis smaller than0.05.
Tabel 7. Wilcoxon Signed Ranks Test
Before-After
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Z -10,229b
Asymp. Sig. (2-tailed) 0,000
a. Wilcoxon Signed Ranks Test
b. Based on negative ranks
Source: Primary Data Processing, 2021
Path Analysis Results
Goodness of Fit Index
Tabel 8. Goodness of Fit Index
Goodness of Fit Index Cut-off Value Hasil Keterangan
Chi-square Diharapkan kecil 293,283 Fit
Probability ≥ 0,05 0,000 Closer Fit
GFI ≥ 0,90 0,458 Closer Fit
RMSEA ≤ 0,08 0,355 Closer Fit
TLI ≥ 0,95 0,671 Closer Fit
AGFI ≥ 0,90 0,218 Closer Fit
CFI ≥ 0,90 0,734 Closer Fit
CMIND/DF ≤ 2,00 4,655 Closer Fit
Source: Primary Data Processing, 2021
Table 8 shows a summary of the results of the Goodness of Fit Index. Based on the table it is seen that the
results of the test criteria (Goodnessof Fit Index) almost all showed good evaluation results. But this is not a
problem because all the variables used in this study use secondary data that has been in accordance with existing
data and the data has also been supported and strengthened based on existing theories. In addition, this is also
due to data testing using SEM analysis, where the analysis is used and done with the aim of assessing the
relationship between one variable and another, so as not to create a new model.
Figure 1. Research Path Diagram Output Significance Test (Regression Weights)
Source: Primary Data Processing, 2021
Table 9. Significance Test (Regression Weights)
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Impact of Covid-19 on changes in stock prices and the volume of …
Estimate S.E C.R P Results
VOLUME <-- COVID 645504,748 416129,311 1,551 0,121
PRICE <-- COVID -2,068 1,349 -1,533 0,125
HS1 <-- PRICE 1,000
HS2 <-- PRICE 0,640 0,079 8,111 *** Sig
HS3 <-- PRICE 0,464 0,050 9,368 *** Sig
HS4 <-- PRICE 0,439 0,046 9,610 *** Sig
HS5 <-- PRICE 0,730 0,075 9,715 *** Sig
HS6 <-- PRICE 0,407 0,042 9,676 *** Sig
KT <-- COVID 1,000
VT1 <-- VOLUME 1,000
VT2 <-- VOLUME 0,247 0,063 3,919 *** Sig
VT3 <-- VOLUME 0,889 0,191 4,652 *** Sig
VT4 <-- VOLUME 0,420 0,097 4,342 *** Sig
VT5 <-- VOLUME 0,289 0,070 4,106 *** Sig
VT6 <-- VOLUME 0,568 0,147 3,874 *** Sig
Source: Primary Data Processing, 2021
Standardized Regression Weights
Table 10. Standardized Regression Weights
Estimate
VOLUME <--- COVID 0,650
PRICE <--- COVID -0,438
Source: Primary Data Processing, 2021
Table 9 shows the resultof the Regression Weights Test the effect of COVID-19 positive confirmed case rates
on the share price of transaction volumes in BUMN listed on LQ45 during the COVID-19 pandemic in
Indonesia. Based on the table shows that the output results of parameter coefficients are clearly visible that all
hypotheses are accepted. This can be seen from the value of each indicator of price and volume variables.
Table 10 shows that the Stock Price variable has a standard value of parameter coefficient (Standardized
Regression Weights) of -0.438. Based on the table it can also be seen that the Transaction Volume variable has
a standard value of parameter coefficient (Standardized Regression Weights) of 0.650.
Difference In Share Price In Soes Listed In Lq45 Before And After National Announcement Of Covid-19
Cases In Indonesia
Based on the results of the paired t-test, it shows that the value of significance (sig) The comparison between the
stock price before and after the announcement of the national announcement of COVID-19 cases in Indonesia
is 0.000. This indicates that the value of its significance is less than 0.05. So as to prove if the first hypothesis
(H1) is accepted, which means that there is a significant difference between the share price in BUMN listed on
LQ45 before and after the national announcement of COVID-19 cases in Indonesia.
The results of this study are in line with the research conducted by (Winanti, 2021) which shows that the
announcement of COVID-19 by the government significantly affects the share price of Islamic banks, where the
COVID-19 announcement caused the share prices of Bank BRI Syariah (BRIS) and Bank BTPN Syariah (BTPS)
to experience price reductions. This is also in line with Vina's research showed that there is a significant
difference stock price of PT. Bank Mandiri, Tbk. between before and after the first announcement of the covid-
19 case in Indonesia. which the stock price has decreased compared to before the covid-19 case (Wenno, 2020).
Difference In Transaction Volume In Soes Registered In Lq45 Before And After National Announcement
Of Covid-19 Cases In Indonesia
Based on the results of the wilcoxon signed rank test, it shows that the significance value (sig) The comparison
between the volume of transactions before and after the national announcement of COVID-19 cases in Indonesia
is 0.000. This indicates that the value of its significance is less than 0.05. So it can prove if the second hypothesis
(H2) is accepted, which means that there is a significant difference between the volume of transactions in BUMN
registered in LQ45 before and after the national announcement of COVID-19 cases in Indonesia.
It is generally agreed that a market is improving when there is a high volume of trading activity on an
exchange (Indriastuti & Nafiah, 2017). But this isn't necessarily a positive thing. If a large number of investors
sell a company's shares, the price of those shares will go down, and the stock will trade at a lower price. On the
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other hand, the price of a company's stock has a greater propensity to go up considerably if there is a big demand
for the stock among investors, and whenever numerous investors purchase the shares in large quantities (Wenno,
2020).
With the results of the study showing that there is a significant difference between the volume of transactions
in BUMN listed in LQ45 before and after the national announcement of COVID-19 cases in Indonesia, this
means that the results of the study are in line with the theory that the large volume of stock transactions shows
how much interest investors have in doing transactions both buying and selling company shares. The value of
the transaction volume is high, not necessarily indicating a high stock price.
The results of this study are in line with the research conducted by (Nurmasari, 2020) which shows that the
volume of share transactions of PT Ramayana Lestari Sentosa, Tbk there is a significant difference after the
announcement of the first case of COVID-19 in Indonesia with the following announcement.
Effect Of Covid-19 Positively Confirmed Case Rates On Share Prices In Soes Listed In LQ45 During The
COVID-19 Pandemic In Indonesia
Based on the results of the Regression Weights Test in path analysis, it shows that the Stock Price variable has
a standard parameter coefficient value (Standardized Regression Weights) of-0.438. This identifies that the
COVID variable has a negative and significant effect on the Stock Price (HS) variable. So this can prove if the
third hypothesis (H3) is accepted, which means that there is a significant influence between the number of
positively confirmed cases of COVID-19 to the share price of BUMN listed on LQ45 during the COVID-19
pandemic in Indonesia. With the standard value of the parameter coefficient (Standardized Regression Weights)
which is negative shows that the higher the number of positively confirmed cases of COVID-19, it will cause a
decrease in the stock price.
With the results of the study showing that there was a significant influence between the number of positively
confirmed cases of COVID-19 to the stock price of BUMN listed on LQ45 during the COVID-19 pandemic in
Indonesia, this means that the results of the study are in line with the theory that buyer and seller activity in the
capital market greatly affects stock prices. For example, if a seller reacts to bad news and then sells his shares,
this will cause the stock price tofall.
The results of this study are in line with the research conducted by (Ashraf, 2020) Which shows that the
capital market responds negatively to the increase in confirmed cases of COVID-19, which means that when the
number of confirmed cases of COVID-19 increases in a country, it will have a significant effect on the stock
price.
Impact Of Covid-19 Positively Confirmed Case Numbers On Transaction Volume In Soes Registered In
Lq45 During The Covid-19 Pandemic In Indonesia
Based on the results of the Regression Weights Test in path analysis, it shows that the transaction volume
variable has a standard parameter coefficient value (Standardized Regression Weights) of 0.650. This identifies
that the COVID variable has a positive and significant effect on the transaction volume (VT) variable. So this
can prove if the fourth hypothesis (H4) is accepted, which means that there is a significant influence between
the number of positively confirmed cases of COVID-19 on the volume of transactions in BUMN registered in
LQ45 during the COVID-19 pandemic in Indonesia. With a positive standardized regression weights, the higher
the number of positive confirmed cases of COVID-19, it will lead to an increase in the volume of stock
transactions.
With the results of the study showing that there is a significant influence between the number of positively
confirmed cases of COVID-19 to the volume of transactions in BUMN registered in LQ45 during the COVID-
19 pandemic in Indonesia, this means that the results of the study are in line with the theory that the volume of
witness tran is inline with the trend, where the trade will increase at atime when the market is uptrend.
Conversely, trading activity will decrease at a time when the market is down trend.
The results of this study are in line with the research conducted by (Wicaksono & Adyaksana, 2020) Which
shows that the average transaction volume in banking companies increased after the COVID-19 announcement,
this happened because many investors were worried about experiencing large losses due to the increase in the
number of positive cases of COVID-19 so that many investors sold their shares, the company's share price that
tends to fall is actually used by investors to obtain a low price against the purchase of shares of a company in
the hope of to make a profit when the stock price rises again, this is what makes the volume of stock transactions
increase
Conclusion
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Impact of Covid-19 on changes in stock prices and the volume of …
There is a significant difference between the share price of BUMN listed in LQ45 before and after the national
announcement of COVID-19 cases in Indonesia. This can be proven based on the results of the paired t-test
which shows that the significance value (sig) comparison between the stock price before and after the
announcement ofthe national announcement of COVID-19 cases in Indonesia is 0.000 which shows that the
value of significance is less than 0.05. There is a significant difference between the volume of transactions in
BUMN registered in LQ45 before and after the national announcement of COVID-19 cases in Indonesia. This
can be proven based on the results of the wilcoxon signed rank test which shows that the value of significance
(sig) The comparison between the volume of transactions before and after the national announcement of
COVID-19 cases in Indonesia is 0.000 which shows that the value of significance is less than 0.05. There is a
significant influence between the number of positively confirmed cases of COVID-19 and the share price of
BUMN listed in LQ45 during the COVID-19 pandemic in Indonesia. This can be proven based on the hasi ofthe
Regression Weights Test in path analysis which shows that the Stock Price variable has a standard value of
parameter coefficient (Standardized Regression Weights) of -0.438. This identifies that the COVID variable has
a negative and significant effect on the Stock Price variable. With the standard value of the parameter coefficient
(Standardized Regression Weights) which is negative shows that the higher the number of positively confirmed
cases of COVID-19, it will cause a decrease in the stock price. There is a significant influence between the
number of positively confirmed cases of COVID-19 on the volume of transactions in BUMN registered in LQ45
during the COVID-19 pandemic in Indonesia. This can be proven based on the Regression Weights Test in path
analysis, showing that the transaction volume variable has a standard parameter coefficient value (Standardized
Regression Weights) of 0.650. With a positive standardized regression weights, the higher the number of positive
confirmed cases of COVID-19, it will lead to an increase in the volume of stock transactions.
.
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