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All Journal JEJAK International Research Journal of Business Studies (E-Journal) Journal of Research in Business, Economics, and Education
Ridwan Nurazi, Ridwan
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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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

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (145.67 KB)

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.
HIGH ECONOMIC GROWTH: WILL ENSURING INCLUSIVE GROWTH? Soleh, Ahmad; Sukiyono, Ketut; Nurazi, Ridwan
Journal of Research in Business, Economics, and Education Vol 2 No 1 (2020): February Edition
Publisher : STIE Kusuma Negara

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Inclusive growth (IG) measures the benefits of economic growth for people's welfare. Several approaches have been developed in measuring inclusive growth. This study aims to measure inclusive growth using the poverty approach (IGp). This research was conducted in Jambi province and Kepulauan Riau province which is the region with the highest average economic growth on the island of Sumatera in the period 2001-2016. The method of approach used in this study is descriptive analysis. The technique of collecting data uses library research. The poverty-equivalent Growth Rate (PEGR) was developed in the measurement of inclusive growth. The results of the study show that high economic growth does not guarantee the achievement of inclusive growth. This phenomenon is indicated by the average incremental growth coefficient (IGp) of Jambi province of 0.038 lower than the average coefficient of economic growth (?g) of 0.060. The same condition occurs in the province of Riau Islands, the average inclusive growth coefficient (IGp) is 0.020 lower than the average coefficient of economic growth (?g) of 0.062. This indicates that high economic growth has not been distributed evenly and the benefits of face economic growth are accepted by non-poor people. Some government policies and programs are expected to be directed towards efforts to reduce poverty so that the benefits of economic growth are truly accepted by the poor.
Co-Authors Ahmad Soleh Berto Usman, Berto Kananlua, Paulus S. Ketut Sukiyono