Perubahan Tingkat Suku bunga Dan Kinerja
ABSTRACT The objective of this paper is to test empirically the performance of Indonesian capital market following the interest rale change. This study also tests the relationship betwten the interest rate changes and the subsequence perfi.irmance in various industries, which are financial and manuf...
| Main Author: | |
|---|---|
| Format: | Article |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2004
|
| Subjects: |
| _version_ | 1797019609590661120 |
|---|---|
| author | Perpustakaan UGM, i-lib |
| author_facet | Perpustakaan UGM, i-lib |
| author_sort | Perpustakaan UGM, i-lib |
| collection | UGM |
| description | ABSTRACT
The objective of this paper is to test empirically the performance of Indonesian capital market following the interest rale change. This study also tests the relationship betwten the interest rate changes and the subsequence perfi.irmance in various industries, which are financial and manufacture sector. We used market level analysis as well as industry level analysis.
We examine the 1996-2001 period. The sample consists of 64 interest rate change, 34 increase and 30 decrease. We used one market index and two industry index, which are Indonesian Capital Market Composite Index, Financial Sector Index and Manufacture Sector Index.
In order to examine the market and industry performance following interest rate change, we lest the mean-adjusted return (NAM and cumulative mean-adjusted return (CW/19 during 21 event windows with t-test statistics. The results indicate that Muriel and industrial performance react negatively to the increase of interest rate, while react positively to the decrease of interest rate. Besides, there is also an indication that financial sector performance tends to be more sensitive than manufacture sector performance.
Keywords: Interest rate change, market performance, financial and manufacture perforoance, market-level analysis, industry-level analysis |
| first_indexed | 2024-03-05T23:10:15Z |
| format | Article |
| id | oai:generic.eprints.org:27042 |
| institution | Universiti Gadjah Mada |
| last_indexed | 2024-03-05T23:10:15Z |
| publishDate | 2004 |
| publisher | [Yogyakarta] : Universitas Gadjah Mada |
| record_format | dspace |
| spelling | oai:generic.eprints.org:270422014-06-18T00:29:03Z https://repository.ugm.ac.id/27042/ Perubahan Tingkat Suku bunga Dan Kinerja Perpustakaan UGM, i-lib Jurnal i-lib UGM ABSTRACT The objective of this paper is to test empirically the performance of Indonesian capital market following the interest rale change. This study also tests the relationship betwten the interest rate changes and the subsequence perfi.irmance in various industries, which are financial and manufacture sector. We used market level analysis as well as industry level analysis. We examine the 1996-2001 period. The sample consists of 64 interest rate change, 34 increase and 30 decrease. We used one market index and two industry index, which are Indonesian Capital Market Composite Index, Financial Sector Index and Manufacture Sector Index. In order to examine the market and industry performance following interest rate change, we lest the mean-adjusted return (NAM and cumulative mean-adjusted return (CW/19 during 21 event windows with t-test statistics. The results indicate that Muriel and industrial performance react negatively to the increase of interest rate, while react positively to the decrease of interest rate. Besides, there is also an indication that financial sector performance tends to be more sensitive than manufacture sector performance. Keywords: Interest rate change, market performance, financial and manufacture perforoance, market-level analysis, industry-level analysis [Yogyakarta] : Universitas Gadjah Mada 2004 Article NonPeerReviewed Perpustakaan UGM, i-lib (2004) Perubahan Tingkat Suku bunga Dan Kinerja. Jurnal i-lib UGM. http://i-lib.ugm.ac.id/jurnal/download.php?dataId=10094 |
| spellingShingle | Jurnal i-lib UGM Perpustakaan UGM, i-lib Perubahan Tingkat Suku bunga Dan Kinerja |
| title | Perubahan Tingkat Suku bunga Dan Kinerja |
| title_full | Perubahan Tingkat Suku bunga Dan Kinerja |
| title_fullStr | Perubahan Tingkat Suku bunga Dan Kinerja |
| title_full_unstemmed | Perubahan Tingkat Suku bunga Dan Kinerja |
| title_short | Perubahan Tingkat Suku bunga Dan Kinerja |
| title_sort | perubahan tingkat suku bunga dan kinerja |
| topic | Jurnal i-lib UGM |
| work_keys_str_mv | AT perpustakaanugmilib perubahantingkatsukubungadankinerja |