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Journal : Jurnal Manajemen dan Kewirausahaan

PERFORMANCE EVALUATION AND RISK AVERSION RATE FOR SEVERAL STOCK INDICES IN INDONESIA STOCK EXCHANGE Robiyanto, Robiyanto
Jurnal Manajemen dan Kewirausahaan Vol 19, No 1 (2017): MARCH 2017
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (213.28 KB) | DOI: 10.9744/jmk.19.1.60-64

Abstract

There are numerous stock indices in Indonesia Stock Exchange. Several of them are LQ-45, MBX, DBX, JII, SRI-KEHATI, PEFINDO-25, BISNIS-27, IDX-30 and KOMPAS-100. Unfortunately there are limi­ted researches which have been done to measure those indices performance specifically. The same condition also occurs on risk aversion level usage in Indonesia Stock Exchange, only few numbers of researches use this me­a­surement in the portfolio valuation. Based on that, this research measured the performance and risk aversion rate of those indices in Indonesia Stock Exchange. The results of this study were SRI-KEHATI becomes the best performer with the highest risk aversion rate, while Jakarta Islamic Index (JII) produces the lowest positive per­formance with the lowest risk aversion rate. This finding shows that sharia stocks’ characters (i.e. usury free) could give relieveness and convenience regardless its per­formance.
THE INFLUENCE OF INFLATION RATE, BI RATE, AND EXCHANGE RATE CHANGES TO THE FINANCIAL SECTOR STOCK PRICE INDEX RETURN IN THE INDONESIAN STOCK MARKET Yunita, Yunita; Robiyanto, Robiyanto
Jurnal Manajemen dan Kewirausahaan Vol 20, No 2 (2018): SEPTEMBER 2018
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (322.651 KB) | DOI: 10.9744/jmk.20.2.80-86

Abstract

The objective of this study is to find out how macroeconomic factors such as exchange rate changes, BI rate and inflation rate can affect the financial sector stock price index in IDX from 2011 until 2017. Generalize Autoregressive Conditional Heteroscedasticity (GARCH) is used as the analysis method in this research to find the fittest model. The results are, only exchange rate change that has significant effect to financial sector stock price index. Inflation and BI rate have no significant effect to financial sector stock price index.
THE EFFECT OF GOLD PRICE CHANGES, USD/IDR EXCHANGE RATE CHANGES AND BANK INDONESIA (BI) RATE ON JAKARTA COMPOSITE INDEX (JCI)’S RETURN AND JAKARTA ISLAMIC INDEX (JII)’S RETURN Robiyanto, Robiyanto
Jurnal Manajemen dan Kewirausahaan Vol 20, No 1 (2018): MARCH 2018
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (511.74 KB) | DOI: 10.9744/jmk.20.1.45-52

Abstract

This study examines the effect of gold price (in Rupiah) changes, US Dollar exchange rate changes against Rupiah (USD / IDR), and BI rate on Jakarta Composite Index (JCI) return and Jakarta Islamic Index (JII) return in Stock Exchange Indonesia during the period of  June 2008 to September 2017. The data used in this study was obtained from the official website of Bank Indonesia and Bloomberg. Data analysis was done by using multiple regression techniques by previously doing classical assumption test. The result of this re­search is that the exchange rate of USD / IDR changes and BI rate has a significant negative effect on JCI re­turn.