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Novi Swandari Budiarso
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The Contrarian: Finance, Accounting, and Business Research
Published by Yayasan Widyantara Nawasena Raharja
ISSN : 29639743     EISSN : 2986190X     DOI : https://doi.org/10.58784/cfabr
Core Subject : Economy, Science, Social,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences
The Contrarian: Finance, Accounting, and Business Research (CFABR) is a double peer-reviewed journal published by the Yayasan Widyantara Nawasena Raharja. The Contrarian: Finance, Accounting, and Business Research (CFABR) will publish the articles bi-annually. The article submitted to The Contrarian: Finance, Accounting, and Business Research (CFABR) is written in English and it is not under consideration or published by other publishers.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 21 Documents
 1   2   3 
The returns of IHSG, NIKKEI and NASDAQ during COVID-19 pandemic Christina Rengkung; Devina Polii; Gratia N. Sembel; Myline Rau
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 1 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (245.417 KB) | DOI: 10.58784/cfabr.1

Abstract

The Covid-19 pandemic has had quite an unfavorable impact, especially on the market return performance of the IHSG, NIKKEI, and NASDAQ. This study aims to analyze the relationship and differences in market return performance in the IHSG, NIKKEI, and NASDAQ in the period from March 3, 2020, to March 3, 2021. This study finds that market returns from the three markets have a positive and significant relationship. Moreover, this study also found that the three markets had the same market return performance during the Covid-19 pandemic.
The effect of market risk on returns: Case of banking in Indonesia Dhea Modeong; Ricky Wati; Jeine Ante; Efrianto Tadung
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 1 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (378.027 KB) | DOI: 10.58784/cfabr.3

Abstract

The banking industries are a sector that play important role to support national development and national economy. During Covid-19 pandemic, most of market in the world include Indonesia has urgent circumstances. The objective of this study is to examine whether the Covid-19 pandemic has bad impact on returns of banking industries. The results of regression over January 3, 2020, to December 30, 2021 show that there is positive relationship for risk-return of BBNI and BBRI. Those results imply that Covid-19 pandemic does not have significant effect on returns for those banks. It also means that most investors feel safe for those banks financial performance.
Comparison and relationship of returns: Case of technology and healthcare sectors Berlianta Ginting; Eirene Flandrina Gamani; Fadisti Prameswari Hursan; Gabriela Ester Olivia Rarung
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 1 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (214.225 KB) | DOI: 10.58784/cfabr.5

Abstract

The Covid-19 pandemic can have both positive and negative impacts. The technology sector and the health sector are sectors that have experienced significant increases since the pandemic. The objective of this study is to examine the comparison and relationship between firms engaged in the technology sector and the health sector in Indonesia. The results of the analysis over the period 17 June 2021 to 3 June 2022 show that the returns of both sectors are not significantly different. Empirically, this study proves that stock returns of both sectors are not unidirectional and have an insignificant relationship.
Can the market affect non-government banking returns during COVID-19 pandemic? Citra Salniati Mallisa; Febriani Timbang; Marni Palullungan; Olfin M. Appulembang
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 1 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (136.374 KB) | DOI: 10.58784/cfabr.6

Abstract

At the beginning of the era of the Covid-19 pandemic, returns on the capital market became increasingly uncertain, especially for non-government-owned banks in Indonesia. The purpose of this study is to determine the relationship between market movements and returns from non-government banks in Indonesia. The results of the analysis on MEGA and BNGA in the range 5 June 2020 to 30 December 2021 show that the two banks have the same stock return. Empirically, this study finds that stock returns and market returns have unidirectional relationship even though the two banks have different risks.
Efficient market and the COVID-19 pandemic: Case of ASEAN-5 Winston Pontoh; Novi Swandari Budiarso
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 1 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (301.625 KB) | DOI: 10.58784/cfabr.7

Abstract

The issue of Covid-19 has a negative impact, especially on the capital markets of ASEAN-5 countries (Indonesia, Malaysia, Singapore, Thailand, and the Philippines). This study aims to examine the movement of market returns in ASEAN-5 countries at the start of the Covid-19 pandemic. The data used are daily market indices for the period 2020 to 2021. The findings show that market indices for all ASEAN-5 countries move unstable throughout 2020. In 2021, efficient market conditions under the assumption of a weak form only occur in Singapore where the trend of the index of the market becomes more predictable. Empirical evidence also shows that the interrelationship between market indices in ASEAN-5 countries is varied.
The effect of the gold index and NIKKEI on the Indonesian market index Dina S. Gerung; Silva S. Arikalang; Tessalonika Agow; Irmando M. J. J. Sambeka
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 2 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (155.374 KB) | DOI: 10.58784/cfabr.8

Abstract

Gold and NIKKEI are two important market mechanisms and can directly affect the market in Indonesia. The Covid-19 pandemic has had an adverse impact on the world economy and one of them is Indonesia. This study observes the period from June 2021 to May 2022. This study finds that in the period June to December 2021 the gold index is negative and significant on the JCI although NIKKEI has quite a positive effect. Reversely, in the period of January to May 2022, the gold index has a positive effect on the JCI movement, but not on NIKKEI.
The influence of the crude oil and the gold on energy sector returns Ekleysia Gracela Tanod; Florencia Arum Sari Pontoh; Gabril Tuyu; Halldila Marianne
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 2 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (249.528 KB) | DOI: 10.58784/cfabr.9

Abstract

Oil and gold are the most essential commodities in the business world. During the Covid-19 pandemic, the price of gold tended to be stable and the price of crude oil, on the other hand, tended to increase. The objective of this study is to analyze the effect of crude oil returns and gold returns on the returns of firms especially in the energy sector during 8 June 2020 to 4 June 2021. This study finds that only crude oil returns significantly and positively impact the returns of the firms in the energy sector.
The comparison and relationship of IHSG, NIKKEI, and NASDAQ Gracia H. Mamesah; Kristianto Harikatan; Lidya C. M. Hutapea; Marchanda C. Palalangan
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 2 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (193.029 KB) | DOI: 10.58784/cfabr.10

Abstract

The movement of market indices in Indonesia, Japan and the United States tends to be uncertain during the COVID-19 pandemic. This study aims to examine the relationship between the three markets and compare performance during the pandemic. The samples used are the IHSG, NIKKEI, and NASDAQ with an observation period from 19 November 2021 to 31 May 2022. This study finds that during the observed period the market return of the IHSG still has a positive performance compared to NIKKEI and NASDAQ. However, the mean difference test also proves that the performance gap between the markets of the three countries is still relatively the same. In addition, this study also shows that there is a unidirectional relationship between IHSG, NIKKEI, and NASDAQ.
The impact of cases and death reports of COVID-19 on prices and returns Jeffrey Steanly Saputra; Jessica Jeniver Manuho; Riska Maunde; Renitha Aprilia Gracia Thomas
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 2 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (154.158 KB) | DOI: 10.58784/cfabr.11

Abstract

Both the technology sector and the health sector are important issues for investors during the COVID-19 pandemic in 2021. This study aims to examine the impact of cases and death reports on the prices and stock returns especially for firms in the technology and health sectors. On this purpose, the sample is taken for the period January 4 2021 to December 30, 2021. The results of correlation and mean difference tests show that cases and death reports of COVID-19 are not the main cause in influencing stock prices and stock returns of both sectors. The findings suspect that management performance or prospects of the two sectors will trigger synergy in creating a unidirectional relationship between stock prices and stock returns.
The preference of Bitcoin and stocks in Indonesia Novi Swandari Budiarso; Winston Pontoh
The Contrarian : Finance, Accounting, and Business Research Vol. 1 No. 2 (2022)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (527.25 KB) | DOI: 10.58784/cfabr.13

Abstract

Bitcoin is an alternative and is currently in demand by investors. This condition triggers investors' preferences to invest in stocks or cryptocurrencies. This study examines the causality between Bitcoin and the market index in Indonesia in terms of determining the preferences of investors. On this objective, the sample is taken from 1 January 2022 to 31 October 2022. The findings of this study imply that investors' preferences tend to be caused by stock price movements. But, the result of estimation also finds that the preference of investors tends to be influenced by the movement of Bitcoin.

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