42 research outputs found
COVID-19 and Stock Market Reaction in Indonesia
Get PDFResearch aims: COVID-19 Pandemic happens all over the world. Pandemic impact hits almost all elements of life, one of the affected real sectors is finance especially the stock market. This research is aimed to present the reaction of the equity market in Indonesia towards the COVID-19 pandemicDesign/Methodology/Approach: The research method that is used is the study to examine market reaction towards the pandemic and abnormal return around the occurrence by using two methods; mean-adjusted abnormal return and market model.Research findings: From the research conducted over the 10 indicators of the stock market index in Indonesia, it is concluded that 8 industrial sectors that have tenacious reaction toward the COVID-19 pandemic hit in Indonesia, where it is also found that the agriculture sector; basic and chemical industry; miscellaneous, consumer goods; property and real estate; transport and infrastructure; finance; trade, service, and investment, give stronger reactions compared with mining and manufacture.Theoretical contribution/Originality: Researches about the stock market reaction to the non-economy phenomenon have already been carried out, but the research that is specifically done to study sectoral index reaction towards the non-economy occurrences is still wide open to doing for deeper research.Practitioner/Policy implication: This research can be important information for investors to understand the behavior of stock market efficiency in Indonesia in making decisions of investmentResearch limitation/Implication: Non-economy event that becomes the subject of research is the COVID-19 pandemic that appeared and escalated fast all over the world. The researcher conducted the research and presented it as quickly as possible since the time is limited. It is meant to show a systematic and scientific thinking framework in addressing the non-economy events, but still in the context of reliability on the result of research to the same topic about the COVID-19 effect in other countries
Digital Transformation of Small Medium Enterprises: A Descriptive Analysis of Quick Response Indonesia Standard Data
Get PDFThe purpose of this study is to explain the digital transformation of Indonesian micro and medium enterprises (SMEs) through descriptive data analysis on the implementation of the Indonesian quick response standard (QRIS) through the end of 2021. The implementation of QRIS in Indonesia increases literacy and electronic financial inclusion among Indonesian SMEs, attempting to make it easier for the government to conduct better monitoring of SME transactions. The development of QRIS, which began in 2019, has proven to be capable of improving the documentation of digital financial inclusion of SMEs with 14.78 million merchants, the majority of whom are SME merchants, specifically micro business merchants (UMI), small business merchants (UKE), and medium business merchants (UME). Similarly, SMEs dominate in terms of volume and nominal transactions. This descriptive analysis will provide an overview of the evolution of SME digitization in Indonesia, which market players and regulators can use to develop policies and strategies for the future of SMEs
The Existence of Islamic Fintech in Encouraging National Economic Growth
Get PDFThis article aims to identify the role of Islamic fintech (peer-to-peer lending) in influencing Indonesia's economic growth. Economic growth is proxied by the growth rate of gross domestic product (GDP), while sharia fintech assets are used as indicators of peer-to-peer (P2P) lending based on sharia information technology. The relationship between the short-term and long-term effects of Islamic fintech P2P lending and economic growth was measured using the vector error correction model (VECM) method. The results of the analysis of the VECM results show that in the long term, every 1 billion increase in Islamic fintech assets will increase economic growth by 0.108%. Furthermore, the short-term effect was found that economic growth was significantly influenced by economic growth in the previous period (55.7%), economic growth in the previous three periods (-62.2%), and the growth of Islamic fintech assets in the previous two periods (0.09%). These results provide input to regulators and the government that the development of fintech P2P lending has an undeniable influence on economic growth, so that the preparation of regulations, ecosystem infrastructure and consumer protection is an important priority to ensure that the objectives of achieving monetary policy on economic growth can be controlled
The Existence of Islamic Fintech in Encouraging National Economic Growth
Get PDFThis article aims to identify the role of Islamic fintech (peer-to-peer lending) in influencing Indonesia's economic growth. Economic growth is proxied by the growth rate of gross domestic product (GDP), while sharia fintech assets are used as indicators of peer-to-peer (P2P) lending based on sharia information technology. The relationship between the short-term and long-term effects of Islamic fintech P2P lending and economic growth was measured using the vector error correction model (VECM) method. The results of the analysis of the VECM results show that in the long term, every 1 billion increase in Islamic fintech assets will increase economic growth by 0.108%. Furthermore, the short-term effect was found that economic growth was significantly influenced by economic growth in the previous period (55.7%), economic growth in the previous three periods (-62.2%), and the growth of Islamic fintech assets in the previous two periods (0.09%). These results provide input to regulators and the government that the development of fintech P2P lending has an undeniable influence on economic growth, so that the preparation of regulations, ecosystem infrastructure and consumer protection is an important priority to ensure that the objectives of achieving monetary policy on economic growth can be controlled
Analysis of community participation in waste management that supports the agricultural sector in Takalar
Get PDFAn increase in population with various activities and lifestyles of a community has an impact on increasing volume, type, and characteristics of waste. The increase in the amount of waste needs to be balanced with the government and the ability to manage waste, so it is necessary to involve the community. This study aims to measure community participation in managing household waste that will support the agricultural sector. This study was carried out in Takalar Regency because Takalar is one of Indonesia’s regencies that has been successfully awarded the Community-Based Total Sanitation (STBM) from the Indonesian Ministry of Health and the Sustainable STBM Award in waste management. The method used in this study was a descriptive analysis of questionnaire data which was filled by 1011 villages of Takalar Regency. The study found that most of the Takalar citizens have participated in the waste management program initiated by the government of Takalar Regency. However, only a small number of residents process waste into products that support the agricultural sector. This research provides implications for evaluating program effectiveness and finding opportunities for further improvement in regulations
IPO Under-pricing Phenomenon Approach: Does Covid-19 Has A Negative Sectoral Impact?
No full textAn initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise capital from public investors. This study aims to prove the sectoral impact of the Covid-19 pandemic in Indonesia. Qualitative identification through content analysis on public online media and report documents on the results of analysis by research institutes and consultants identifies potential negative impacts on several industrial sectors as a result of the Covid-19 pandemic throughout 2020, but on the other hand, IPO action on the Indonesian capital market in 2020 still ongoing. Previous research has not been found specifically that analyzes the relationship between the impact of Covid-19 on industry and the performance of IPO actions per industrial sector, then through the IPO under-pricing phenomenon approach, empirical evidence is carried out. This research uses secondary data for the initial returns of 315 companies that conducted IPO actions during the period 2010 to 2020 on the Indonesian capital market and testing using a paired sample test on the population of IPO actions before and during the Covid-19 pandemic, the results of this study indicate that simultaneously in all the corporate sector did not find any statistically significant difference in initial returns between the period before and during the pandemic. This shows that the Covid-19 pandemic does not directly impact the behavior of capital market investors, especially in making investment decisions in the primary market
Dampak Inovasi Sistem Pembayaran Terhadap Nilai Pemegang Saham Bank Dan Pengecer
No full textArtikel ini bertujuan meneliti respon pasar modal terhadap penerapan Gerbang Pembayaran Nasional Indonesia, untuk membuktikan bahwa interkoneksi dan interoperabilitas transaksi di merchant akan meningkatkan penerimaan kartu debit dan uang elektronik pada sisi permintaan, mendorong lebih banyak transaksi di merchant dan mengurangi biaya pertukaran sehingga akan meningkatkan pendapatan pedagang pada sisi penawaran. Hasil penelitian menunjukkan bahwa pasar modal merespon positif dampaknya terhadap kinerja saham bank penerbit tetapi memberikan respon negatif terhadap saham pengecer. Penelitian ini melengkapi literatur penelitian event-study terdahulu di pasar modal Indonesia serta memberikan literatur baru tentang dampak model pasar dua sisi pembayaran ritel elektronik dari sudut pandang eksternalitas jaringan antara bank penerbit dan pengecer. Penelitian ini dilakukan hanya pada pasar modal Indonesia dan hanya pada implementasi kartu debit GPN
