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All Journal JEJAK Journal of Indonesian Economy and Business International Research Journal of Business Studies (E-Journal)
Berto Usman, Berto
Department of Management, Faculty of Economics and Business University of Bengkulu,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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INTERNET SEARCH TRAFFIC AND ITS INFLUENCE ON LIQUIDITY AND RETURNS OF INDONESIA STOCKS: AN EMPIRICAL STUDY Usman, Berto; Tandelilin, Eduardus
Journal of Indonesian Economy and Business Vol 29, No 3 (2014): September
Publisher : Journal of Indonesian Economy and Business

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Abstract

The development of advanced information technology has become a standard in the processof improving corporate value. This is seen through the high level of investors’ awareness of thebrand and information that company holds (Da, Engleberg, and Gao, 2011; Bank, Larch, andGeorge, 2011; Joseph, Wintoki, and Zhang, 2011). Among the information providers, internetplays an important role not only in accessing information, but also as a medium that can beapplied to publish a wide range of financial reports or news to attract investors. This study aimsto examine the effect of investors’ attention towards returns, liquidity and volatility of stockreturns. The results indicate that investors’ attention which is represented by Google Insightcontributes positively and significantly to the explanation of returns, liquidity, and volatility ofstock returns in Indonesian manufacturing firms. Also, the phenomenon of informationtechnology usage can be one of the considerations for investors in order to discover what typesof company’s criterion that is appropriate to be included in their investment portfolio.Keywords: investors’ attention, returns, liquidity, volatility of stock returns
Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects Nurazi, Ridwan; Usman, Berto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.6659

Abstract

This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.
Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects Nurazi, Ridwan; Usman, Berto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.7191

Abstract

This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.
Does Bid/Ask Spread React to the Increase of Internet Search Traffic? Nurazi, Ridwan; Usman, Berto; Kananlua, Paulus S.
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 8, No 3 (2015): December 2015 - March 2016
Publisher : Universitas Prasetiya Mulya

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Abstract

CSR Practice and Asymmetry Information of Indonesian Public Listed Companies Usman, Berto; Yennita, Yennita
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 11, No 1 (2018): April-July 2018
Publisher : Universitas Prasetiya Mulya

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Abstract

Bank Stock Returns in Responding the Contribution of Fundamental and Macroeconomic Effects Nurazi, Ridwan; Usman, Berto
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.7191

Abstract

This study attempts to examine the effect of financial fundamentals information using CAMELS ratios and macroeconomics variables surrogated by interest rate, exchange rate, and inflation rate toward stock return. By employing panel data analysis (Pooled Least Squared Model), the results reveal that several financial ratios perform a bit contrary to the theory, in which the ratio of CAR shows positive sign but insignificantly contributes to stock returns. Also, the ratio of NPL does not affect the return. In fact, ROE and LDR positively and significantly contribute toward banks’ stock return. Meanwhile, NIM and BOPO show negative signs. The other macroeconomic variables, interest rate (IR), exchange rate (ER) and inflation rate (INF) are consistent with the a priori expectation, in which those variables negatively and significantly contribute to stock return of 16 banks, for the observation period from 2002 to 2011 in the Indonesian banking sector.
Does Equity Market Integration Exist Between Turkey and the Eurozone? Usman, Berto; Kassie, Nega Muhabaw; Wahyudi, Fitra
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 11, No 1 (2018): March 2018
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v11i1.12488

Abstract

This research investigates the existence of stock market integration between Turkey and the Eurozone. In this study, the performance of Turkey’s stock exchange is proxied by the BIST100, and the EURO STOXX50 is employed as a proxy for the Eurozone index. We hypothesize that there is a dynamic relationship between Turkey and the Eurozone. Methodologically, our research was conducted by employing monthly time series data obtained from EIKON datastream International. In order to demonstrate the extent of equity market integration between Turkey and Eurozone, a vector autoregression model (VAR) was utilized. According to the results, there is no co-integration between these two equity markets. This is in line with the output of residual matrix test, where the correlation between these two market indices was found to be low. However, a Granger causality test indicated that there was a low one-way contribution from Turkey to the Eurozone index during the observation period.
Co-Authors Eduardus Tandelilin Kananlua, Paulus S. Kassie, Nega Muhabaw Ridwan Nurazi, Ridwan Wahyudi, Fitra Yennita Yennita