OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC
The study aimed to analyze the effects of oil and gold price volatility on stock returns in Indonesia by comparing the period before and during the Covid-19 pandemic. The study took secondary data from the daily closing prices of oil (Brent and WTI), gold, and JCI. The analysis technique used was GA...
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| Format: | Article |
| Language: | English |
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Petra Christian University
2021-09-01
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| Series: | Jurnal Manajemen dan Wirausaha |
| Subjects: |
| _version_ | 1818010903702929408 |
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| author | Maria Magdalena Marwanti Robiyanto |
| author_facet | Maria Magdalena Marwanti Robiyanto |
| author_sort | Maria Magdalena Marwanti |
| collection | DOAJ |
| description | The study aimed to analyze the effects of oil and gold price volatility on stock returns in Indonesia by comparing the period before and during the Covid-19 pandemic. The study took secondary data from the daily closing prices of oil (Brent and WTI), gold, and JCI. The analysis technique used was GARCH (1,1). The study found that oil and gold price volatility did not affect stock returns in the two periods. The impact of the Covid-19 pandemic on financial markets had yielded uncertain results. This finding supported the concept of gold as a safe haven during the financial crisis. The limitations in the study were focusing on the Indonesian capital market, and future research can compare the impact of the Covid-19 pandemic on developing countries with developed countries. |
| first_indexed | 2024-04-14T06:01:23Z |
| format | Article |
| id | doaj.art-0a6d1990cf484f97b8aec410381f9d86 |
| institution | Directory Open Access Journal |
| issn | 1411-1438 |
| language | English |
| last_indexed | 2024-04-14T06:01:23Z |
| publishDate | 2021-09-01 |
| publisher | Petra Christian University |
| record_format | Article |
| series | Jurnal Manajemen dan Wirausaha |
| spelling | doaj.art-0a6d1990cf484f97b8aec410381f9d862022-12-22T02:08:45ZengPetra Christian UniversityJurnal Manajemen dan Wirausaha1411-14382021-09-01232129137https://doi.org/10.9744/jmk.23.2.129-137OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMICMaria Magdalena Marwanti0Robiyanto1Universitas Kristen Satya WacanaSatya Wacana Christian UniversityThe study aimed to analyze the effects of oil and gold price volatility on stock returns in Indonesia by comparing the period before and during the Covid-19 pandemic. The study took secondary data from the daily closing prices of oil (Brent and WTI), gold, and JCI. The analysis technique used was GARCH (1,1). The study found that oil and gold price volatility did not affect stock returns in the two periods. The impact of the Covid-19 pandemic on financial markets had yielded uncertain results. This finding supported the concept of gold as a safe haven during the financial crisis. The limitations in the study were focusing on the Indonesian capital market, and future research can compare the impact of the Covid-19 pandemic on developing countries with developed countries.oil pricegold pricevolatilitycovid-19garch |
| spellingShingle | Maria Magdalena Marwanti Robiyanto OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC Jurnal Manajemen dan Wirausaha oil price gold price volatility covid-19 garch |
| title | OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC |
| title_full | OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC |
| title_fullStr | OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC |
| title_full_unstemmed | OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC |
| title_short | OIL AND GOLD PRICE VOLATILITY ON INDONESIAN STOCK MARKET IN THE PERIOD OF COVID-19 PANDEMIC |
| title_sort | oil and gold price volatility on indonesian stock market in the period of covid 19 pandemic |
| topic | oil price gold price volatility covid-19 garch |
| work_keys_str_mv | AT mariamagdalenamarwanti oilandgoldpricevolatilityonindonesianstockmarketintheperiodofcovid19pandemic AT robiyanto oilandgoldpricevolatilityonindonesianstockmarketintheperiodofcovid19pandemic |