Analisis Perkembangan Bursa Malaysia Dan Pasaran Saham Islam Di Malaysia

2011 ◽  
pp. 65-80 ◽  
Author(s):  
Mohd Yahya Mohd Hussin ◽  
Fidlizan Muhammad
Keyword(s):  
Stock Market ◽  
Key Words ◽  
Advisory Committee ◽  
Capital Market ◽  
Research Method ◽  
Stock Exchange ◽  
Market Value ◽  
Advisory Council ◽  
Quantitative Parameters ◽  
Islamic Investment

Artikel ini bertujuan untuk menganalisis perkembangan Pasaran Saham Islam (PSI) di Malaysia dari tahun 1999 hingga tahun 2009. PSI merupakan salah satu kompenan penting dalam Bursa Malaysia. Ia merujuk kepada transaksi jual beli saham yang mempunyai aktiviti-aktiviti syarikat yang selaras dengan syariah dan diniagakan di Bursa Malaysia. Oleh yang demikian, Majlis Penasihat Syariah Suruhanjaya Sekuriti telah memperkenalkan senarai kaunter/saham lulus Syariah berdasarkan sumber utama (al-Quran dan al-Hadis) dan sumber-sumber sokongan dan manhaj penyelidikan yang dipersetujui sebagai panduan kepada para pelabur untuk turut serta dalam bidang pelaburan Islam tanpa ragu-ragu. Hasilnya, jumlah kaunter/saham lulus syariah telah menguasai lebih 88 peratus daripada jumlah keseluruhan kaunter/saham di Bursa Malaysia dengan nilai permodalan pasaran sebanyak 63.8 peratus dari jumlah keseluruhan permodalan pasaran di Malaysia pada tahun 2009. Kata kunci: Bursa malaysia; pasaran saham Islam; majlis penasihat Syariah; parameter kuantitatif; parameter kualitatif This article aims to analyze the development of Islamic Stock Market (ISM) in Malaysia from 1999 until 2009. ISM is one of the prominent components in Malaysian Stock Exchange (Bursa Malaysia). It refers to the sale and purchase transaction of stock that has Shariah complaint company activities and transacted in Malaysian Exchange. Due to this reason, Shariah Advisory Committee of Security Commission has established a list of Shariah compliant counters by basing on the main references (al-Quran and al-Hadith), other advocating sources and consensus research method that lead investors to participate in the field of Islamic investment without hesitation. As a result, Shariah compliant counters majored the overall number of counters in Malaysian Stock Exchange beyond 88% with capital market value of 63.8% from the overall capital market in Malaysia in 2009. Key words: Malaysia exchange; Islamic stock market; Syariah advisory council; quantitative parameters; qualitative parameters

A Computation Methods for Analysis on the Effect of Stock Market and its Application

2014 ◽  
Vol 1078 ◽  
pp. 444-447
Author(s):  
Zhan Xin Ma ◽  
En Yang Zhao ◽  
Xi Ming Lv ◽  
Zhi Min Ma
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Turnover Rate ◽  
Market Value ◽  
Chinese Economy ◽  
Data Envelopment ◽  
Chinese Stock Market ◽  
Return On Assets ◽  
Generalized Data Envelopment Analysis ◽  
New Policies

As a barometer of the macroeconomic of a country and an important part of the capital market, stock market has attracted increasing and highlighted attention. As is well-known, Chinese stock market is known as 'policy market', however, the issue about whether the stock market is really influenced by these policies is always an important and hot topic. In this paper, by using generalized data envelopment analysis, an analysis on the effect of the new policies carried out in May 2012 is provided based on closing price, Tobin Q, circulation market value, turnover rate, and return on assets. Based on the above results, it can show the effect of stock market policies on Chinese Economy.

Application of CAPM in the Indian Stock Market A Comprehensive Reassessment

2005 ◽  
Vol 1 (2) ◽  
pp. 1-12 ◽  
Author(s):  
Raj S. Dhankar ◽  
Rohini Singh
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Stock Exchange ◽  
Capital Asset Pricing ◽  
Pricing Model ◽  
Capital Asset ◽  
Asset Pricing Model ◽  
Conflicting Evidence ◽  
Empirical Tests ◽  
Indian Stock Market

There is conflicting evidence on the applicability of Capital Asset Pricing Model in the Indian stock market. Data for 158 stocks listed on the Bombay Stock Exchange was analyzed using a number of tests from 1991–2002, the period which roughly coincides with the period after liberalization and initiation of capital market reforms. Taken in aggregate the various empirical tests show that CAPM is not valid for the Indian stock market for the period studied.

scholarly journals GLOBALISASI PASAR MODAL DUNIA DAN PENGARUHNYA TERHADAP PASAR MODAL INDONESIA

2017 ◽  
Vol 1 (1) ◽  
pp. 10
Author(s):  
R Adisetiawan
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Exchange ◽  
Global Market ◽  
Stock Market Index ◽  
Causality Test ◽  
Global Capital ◽  
Market Index ◽  
Cointegration Tests

This study aims to prove causality, cointegration and the influence of global capital markets with a market capital of Indonesia for the period 2001-2016 with a Granger causality test statistics, cointegration tests and Multiple Regression testing. These results prove that the 99% confidence interval occurred a long term relationship (cointegration) and the significant influence of global market indices with the Indonesia capital market index (CSPI) in Indonesia Stock Exchange (IDX) for the period 2001 to 2016, it indicates that Indonesia's economy has been integrated with global capital markets with varying levels of integration, but is causally there is only one country that has a causal relationship with the Indonesian stock market index (CSPI), the Taiwan stock market index (TWSE).Keywords: Capital Market Integration

scholarly journals The measurement of intellectual capital by market capitalization method: Empirical study of Polish listed companies

2017 ◽  
Vol 5 (2) ◽  
pp. 106-115
Author(s):  
Salome Svanadze ◽  
Magdalena Kowalewska
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Market Value ◽  
Financial Statements ◽  
Listed Companies ◽  
Future Research ◽  
Book Value ◽  
Warsaw Stock Exchange

Intellectual capital has become a fundamental source for enterprises, but its measurement and reporting remain a major challenge for managers and researchers. The purpose of this paper is to examine and report the differences in the Intellectual Capital (IC) Market Value (MV) to Book Value (BV) of the Polish WIG 20 indexed companies from Warsaw Stock Exchange. The data necessary to perform the calculations in accordance with the MV/PV method came from the financial statements for the period 2010-2014 of 20 Polish companies. The MV/BV method provides the means to measure intellectual capital in a precise and timely calculation and is particularly useful for the companies that are listed on the stock market. Results are presented and followed by discussion and implication for future research.

PEMODELAN HARGA SAHAM BLUE CHIP MENGGUNAKAN VECTOR AUTOREGRESSIVE (VAR)

2016 ◽  
Vol 6 (2) ◽  
pp. 1
Author(s):  
Agus Suharsono ◽  
Aryo Wibisono
Keyword(s):  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
Stock Price ◽  
Stock Exchange ◽  
Rapid Development ◽  
Information Criterion ◽  
Profit Sharing ◽  
Blue Chip ◽  
The Capital Market

In a stock exchange in the capital market, the most in demand by investors is stocks. Shares are securities which shows the ownership of the company, so that shareholders have the right to a dividend or other distribution of profit sharing as well as by the company to its shareholders. The capital market is an indicator of economic progress and support the economy of a country. In this decade, the stock market has experienced rapid development due to pressure from technological change, liberalization and globalization. These changes affect the behavior of the capital markets and cause long-term balance and improving the relations between the world's capital markets. Otherwise interconnected capital markets if the two separate markets have the same movement and the correlation between the movement of the index. Capital markets in the region are likely to have the same movement and the effects of contagion (contagion effect) is high (1). During the observation period, October 2015 to March 2016, there was a phenomenon in which IHSG is not always the same and has a correlation with the movement of world stock market indices. It is also supported by the differences found in the results of some previous studies. The purpose of this study was to determine the relationship between stocks bluechip : Astra International Tbk (ASII), Unilever Indonesia Tbk (UNVR), Astra Agro Lestari Tbk (AALI), Bank Rakyat Indonesia Agroniaga (AGRO) and Bank Rakyat Indonesia (BRI ). The analytical method used in this study is Multivariate Time Series, especially Vector Autoregression (VAR). The results of this study with the model produces the best model VAR (2), AGRO = 11.56 - 4.03*ASII(-1) - 4.40*ASII(-2) + 3.76*UNVR(-1) + 1.27*UNVR(-2) + 1.38*AALI(-1) + 2.54*AALI(-2) + 0.73*AGRO(-1) + 0.14*AGRO(-2) + 5.40*BRI(-1) - 1.34*BRI(-2). The value of AIC (Akaike Information Criterion) = 4.47 Keywords: BLUE CHIP, Stock Price, VAR.

scholarly journals Type of Traders’ Effect on Risk and Return: The Case of Egyptian Stock Exchange

2016 ◽  
Vol 8 (2) ◽  
pp. 256
Author(s):  
Aly Saad Mohamed Dawood ◽  
Khairy El-Giziry
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Trading Volume ◽  
Stock Exchange ◽  
Garch Model ◽  
Market Returns ◽  
Market Values ◽  
Market Return ◽  
Lag Structure ◽  
Egyptian Stock Exchange

<p>This research paper aims to estimate the effect of investor categories (Foreigners, Arab, Egyptian institutions and individuals) trading volume, value and number of transactions on capital market returns and volatility.  </p><p>We depend on data Foreigners, Arabian and Egyptian trading volume, values and number of transaction of buying and selling for institutions and individuals and capital market values for the period from January 1st 2009 to December 31 2013.</p><p>We used descriptive statistics to identify normal distribution of data. Then, performing lead lag structure approach to obtain the optimum lag for the independent variable which has the maximum correlation with the dependent variable. Next, Garch model utilized to estimate the effect of trading volume, value, number of transactions on capital market return and volatility. Finally, the same model utilized to estimate the effect of investor categories on capital market return and volatility for the six periods starting from January 1<sup>st</sup> 2009 to December 31 2013 which represents the whole period and five yearly periods for the same period.</p><p>We found that institutions are the main source of volatility in the Egyptian stock market. Garch models showed weak effect on volatility for all periods. In the light of this study Foreigners and trading value items are the main source of effect on volatility. Finally, consistent with Chou (1988), the findings of GARCH model indicated that volatility persistence is less than unity which revealed that the Egyptian stock market could absorb shocks across time.</p>

scholarly journals Changes in the Stock Market of Food Industry Companies during the COVID-19 Pandemic—A Comparative Analysis of Poland and Germany

Energies ◽  
2021 ◽  
Vol 14 (23) ◽  
pp. 7886
Author(s):  
Elżbieta Kacperska ◽  
Jakub Kraciuk
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Food System ◽  
Stock Exchange ◽  
Food Sector ◽  
Rates Of Return ◽  
Thomson Reuters ◽  
Warsaw Stock Exchange ◽  
Polish Government ◽  
Market Indexes

The COVID-19 pandemic had a dramatic effect on the world economy, leading to disturbances in the global agri-food system. Disrupted supply chains caused instability in the market resulting in mixed reactions among market participants. The balance in the access and availability of food was disturbed at various levels starting from local up to international. Partial lockdowns of economies affected the equilibrium on the labor market in the food sector, the level of income and food security. The aim of this study was to determine the effect of shock caused by the COVID-19 pandemic on rates of return from shares of companies in the agri-food sector listed in Poland and Germany, as well as indicate dependencies between restrictions imposed by the investigated countries and changes in the rates of return from shares as a result of the pandemic. The source of data for the analyses of the capital markets in Poland and Germany was the Thomson Reuters database. In order to determine the effect of shock caused by the coronavirus pandemic and restrictions imposed by the states on the capital market the abnormal rates of return were calculated for shares of 24 Polish and 23 German companies from the food sector. The investigated Polish companies were listed on the Warsaw Stock Exchange, while the German companies were listed on the Frankfurt Stock Exchange and other stock exchanges in Germany. Calculations were based on stock market indexes: for the Polish stock exchange it was WIG and WIG-food, while for the German capital market it was DAX and DAX Food & Beverages. In this study the Stringency Index was also used as a tool to follow the response of the governments to the coronavirus pandemic. The results indicate that following the pandemic outbreak large reductions were observed for cumulative rates of return from shares as a consequence of the pandemic both in Poland and Germany. Abnormal cumulative rates of return for the investigated companies were comparable. Markedly greater increases in abnormal rates of return were recorded for the Polish companies of the food sector listed at the Warsaw Stock Exchange. The Stringency Index indicates that restrictions imposed by the German authorities in response to the coronavirus pandemic were slightly more radical than those introduced by the Polish government.

scholarly journals INFLUENCE KNOWLEDGE LEVEL FUNDAMENTAL ANALYSIS AND TECHNICAL ANALYSIS ON CONTINUITY OF INVESTING IN SHARIA STOCKS IN SHARIA INVESTMENT GALLERY INDONESIA STOCK EXCHANGE STATE INSTITUTE OF ISLAMIC RELIGION KERINCI

TRANSFORMATIF ◽  
2021 ◽  
Vol 4 (2) ◽  
pp. 121-142
Author(s):  
Abi Suar Alizar Suar ◽  
Meirison Meirison Meirison
Keyword(s):  
Capital Market ◽  
Research Method ◽  
Stock Exchange ◽  
Technical Analysis ◽  
Quantitative Approach ◽  
Fundamental Analysis ◽  
Knowledge Level ◽  
State Institute ◽  
Islamic Religion ◽  
Level Of Knowledge

Once the prospection of sharia trading in the capital market must be supported with a level of knowledge in analyzing the stocks that will be traded. Therefore there is an in-depth knowledge of the analysis of sharia stocks before making transactions on the sharia capital market and needed a deepening of understanding on fundamental and technical analysis to achieve optimal profit in the purchase or sale of Sharia stocks. This research aims to determine the influence of the knowledge level of fundamental analysis in the Continuity of investing in sharia stocks. Influence the level of technical analysis in the continuation of Continuity to invest in sharia stocks and the effect of the knowledge level of fundamental and technical analysis simultaneously on the Continuity of investing in sharia stocks. The research method used in this research is to use a quantitative approach. The result of the study was on a partial (independent) fundamental analysis level (X1) test for the variable Continuity of investing (Y). The influence of Knowledge level technical analysis (X2) partially against the Continuity of investing (Y), both get the result of a  tcount  <  Ttable, OR a significant > 0.05. Zero hypotheses (H0) received, and an alternate hypothesis (HA) is rejected, which means variable X does Not affect the variable Y. Similar results are also obtained From simultaneous calculations (together). 

scholarly journals REAKSI PASAR SAHAM TERHADAP PENGUMUMAN PERUBAHAN PERINGKAT OBLIGASI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2012 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Meilia Rakhmawati ◽  
Dyah Fitriani
Keyword(s):  
Stock Market ◽  
Positive Reaction ◽  
Capital Market ◽  
Stock Exchange ◽  
Bond Rating ◽  
Know How ◽  
Stock Market Reaction ◽  
New Information ◽  
Exchange Data ◽  
Research Show

Investor decision in buying or selling stocks very influenced by information accepted. Change of obligation rating announcement represent one of new information publicized to public. This research aim to know how the stock market reaction to change of obligation rating announcement for company listed Indonesia stock exchange. Data used by is data of annoucement rating from PT. Pefindo. The population of this research are all companies that announce IDX bond rating in the period 2008-2009. Result of research show in case of decrease of obligation rating is not found by the existence of negativity reaction which significant of during periode test that goes on. WHile for the case of increase of obligation rating not found by the existence of positive reaction significant of during used test period. Inexistence react the market can because of capital market of Indonesia which not yet enough great at manage information circulating so that interpretation for existing information do not yield the correct invesment decision.

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