Effect Of Macroeconomic Indicators Research Articles

The Effect of Macroeconomic Indicators on Profitability and Firm Value

The objective of this study encompasses an examination of the influence of inflation, gross domestic product, and profitability on the valuation of companies within the Indonesian stock market, with specific emphasis on corporations listed in the LQ45 index on the Indonesia Stock Exchange (IDX). The LQ45 index as it offers a focused and comprehensive view of the Indonesian stock market, allowing them to draw meaningful conclusions about the impact of inflation, GDP, profitability, and other factors on the valuation and performance of these selected companies. The primary aim of this research is to provide valuable insights to corporations regarding the significance of maintaining profitability and firm value while taking into consideration macroeconomic indicators. The research methodology employed in this investigation is of a quantitative nature. The study encompasses the entirety of companies listed within the LQ45 Index on the IDX as the designated population. The technique employed for sample selection is purposive sampling. The selected sample comprises companies that have consistently maintained their listing in the LQ45 Index on the IDX from 2016 to 2022, totaling 31 companies. The outcomes of the goodness-of-fit examination and the robustness assessment of the model utilized within this study unequivocally affirm the model's exceptional effectiveness in aligning with the available dataset. The analysis of the results of the regression analysis and the mediation assessments leads to the definitive conclusion that the Gross Domestic Product variable exerts a remarkably positive and statistically significant influence on Firm Value. Likewise, the Profitability variable significantly and positively impacts firm value. However, it is imperative to acknowledge that profitability does not function as a mediating factor in the relationship between Inflation and Gross Domestic Product in the context of firm value.

The Effect of Macro-Economic Indicators on Voter Behavior in Turkey: An Analysis on General and Local Elections of 1980-2019

The main actor of voter behavior is the human and human behavior under the identity of voter. For this reason, voter behavior emerges as a product of a complex process as it can be influenced by different factors. In this respect, voter behavior, which constitutes the most measurable behavior type of political participation, requires a multidimensional approach. This study aims to determine the sensitivity of political party vote rates to changes in macroeconomic indicators such as inflation, growth and unemployment rates in general and local elections held in Turkey between 1980-2019. The sensitivity of voters to economic indicators is analyzed within the framework of the economic approach and the responsibility hypothesis. In this study, econometric analyses were conducted with the help of Eviews 10 program and necessary tests were applied. In the study, the existence of correlation relationship between variables is revealed by horizontal cross-section dependence test. The results of the horizontal cross-section dependence test show that voters who vote in general and local elections are sensitive to variables such as unemployment, inflation and economic growth.

The Effect of Macroeconomic Indicators, Crude Oil Prices, and the Dow Jones Index on the Jakarta Composite Index

This research aims to analyze the influence of macroeconomic factors, such as Exchange Rate, BI Rate, Inflation, Gross Domestic Product, Crude Oil Price, and Dow Jones Industrial Average Index (DJIA) on the Jakarta Composite Index (JCI) for the 2014-2018 period. The analytical method used is the Error Correction Model (ECM) with a significant level of 5% with E-views 10 software. The results of partial research show that in the short and long term, the Exchange Rate and Oil Price significantly negatively affect the JCI and BI Rate in the short term and have a significant negative relationship with the JCI, inflation, and Gross Domestic Product a negative and insignificant relationship with the JCI and the Dow Jones Index in the short and long term has a significant positive relationship with the JCI. The simultaneous research results show that the Exchange Rate, BI Rate, Inflation, Gross Domestic Product, Oil Price, and the DJIA simultaneously significantly influence the dependent variable, namely JCI. According to the Islamic review, activities related to Exchange Rate, BI Rate, Inflation, GDP, Crude Oil Prices, the Dow Jones Index, and the JCI are allowed. However, they must comply with Islamic law and regulations.

Effect of macroeconomic indicators on stock price indices with the vector error correction model approach

The capital market as one of the important instruments in the economy requires indicators to determine growth in it. The Composite Stock Price Index (IHSG) is used as one of the capital market indicators with various influencing factors. This research was conducted to test and analyze the effect of inflation, exchange rate, the Bank Indonesia (BI) rate, and money supply (M2) on the Jakarta Composite Index (JCI) in the period from January 2017 to March 2022. In this study, quantitative descriptive research was carried out with JCI as the dependent variable and inflation, exchange rate, BI-rate, and money supply as independent variables. The research used the vector autoregression (VAR) method using the EViews 12 analysis tool. From the tests conducted it showed that between variables only had a one-way relationship, with the R squared value indicating that the independent variables in the model were able to explain changes in the dependent variable that occurred. The variables in the model are also indicated to have a simultaneous effect on the dependent variable; this is based on a high F-statistic value.

The Effect of Macroeconomic Indicators on Non-Performing Loans: The Case of Balkan Countries

This paper investigates the impact of macroeconomic indicators on non-performing loans at commercial banks in the Balkans. In this research, we calculated how the macroeconomic indicators mentioned below affect non-performing loans and how strong this relationship is. The study of this problem is crucial because the Balkan countries experience economic trends reflected in macroeconomic indicators. In this study, the OLS model was used to examine the relationship between macroeconomic factors and non-performing loans in the study period from 2006 to 2020. We used correlation, regression, and co-integration methods. Non-performing loans (NPLs) were the dependent variable, and the independent variables were gross domestic product (GDP), government debt to GDP ratio, unemployment, and inflation. According to the linear regression model, GDP and inflation negatively impacted non-performing loans, while government debt to GDP ratio and unemployment had a positive effect.

The Effect of Macroeconomic Indicators on Collection of Zakat, Infaq, and Alms (ZIS): A Case of the National Zakat Amil Agency (BAZNAS) in Java 2013-2020

Indonesia is the largest Muslim country in the world with a Muslim population of 229 million people and ZIS collection institutions such as BAZNAS and LAZIS have spread throughout the archipelago. This research aims to determine how much influence the variables have in increasing the collection of Zakat, Infaq, and Alms (ZIS) in BAZNAS throughout the Province of Java. The variables used to explain the effect of macroeconomic variables on the collection of Zakat, Infaq, and Alms at BAZNAS are Regional Minimum Wages, Inflation, Per capita Income and Unemployment by using secondary data collection techniques or directly on the BAZNAS official website per year. This study uses the Common Effect Model (CEM) analysis model on panel data regression using time series and cross section data for the years 2013-2020.The results of this study indicate that of all independent variables that can affect ZIS income, only inflation and per capita income variables, while the Provincial Minimum Wage and Unemployment variables have no effect on the dependent variable.

Analysis of the Effect of Macro Economic Indicators and Dow Jones Index on IDX Composite in Indonesia Stock Exchange

Study aims to analyze the macroeconomic effect of the Dow Jones index on IDX Composite on the Indonesia Stock Exchange. The variables used in the macro economy are inflation, kurs, SBI rate, FED rate. Another variable is the Dow Jones index. This study uses quarterly secondary data from 2010 to 2020. The data analysis model uses the Autoregressive Distributed Lag (ARDL) approach. The results of the ARDL model analysis show that in the long term inflation, kurs, and FED rate has a negative and insignificant effect on the IDX Composite, SBI rate variable has a positive and not significant effect on the IDX Composite, the Dow Jones index variable has a positive and no significant effect on the IDX Composite significant to the IDX Composite. In the short term, inflation has a negative and insignificant effect on the IDX Composite, kurs has a negative and significant effect on the IDX Composite, SBI rate has a positive and insignificant effect on the IDX Composite, FED rate and the Dow Jones index have a positive and significant effect on the IDX Composite. Keywords: IDX Composite, Inflation, Kurs, SBI Rate, FED Rate, Dow Jones index.

The Effect of Macroeconomic Indicators on Stock Return through Return on Asset (RoA) in Banking Companies Listed in Lq45 from 2008-2018

The Effect of Macroeconomic Indicators on Stock Return through Return on Asset (RoA) in Banking Companies Listed in Lq45 from 2008-2018

ANALYSIS OF ISLAMIC STOCK PRICE INDEXS IN INDONESIA

This study aims to determine whether there is an effect of macroeconomic indicators on the Indonesian Islamic stock price index (ISSI) as an dependent variable. The macroeconomic indicators tested in this study are inflation, exchange rates, interest rates (interbank rates), gold prices and world oil prices which are independent variables. This study uses monthly time series data from the 2015-2019 period. This type of research is a multiple linear regression Quantity research with the analytical tool used by ARDL to measure the research parameters. The findings of the research show that the inflation and gold price variables have a significant effect on ISSI both in the short and long term, while the other three variables, namely the exchange rate, interest rate and world oil price have an insignificant effect even though the oil price variable the world has a positive relationship, marked by a positive coefficient value. Keywords : Syariah Stock Index, Macroeconomic Variables

Corporate Responsibility Reporting in Africa: The Effect of Macroeconomic Indicators and Political Regime

The main aim of this paper is to empirically assess the relationship between macroeconomic indicators, political regime, and corporate responsibility reporting in African countries. Using ex post facto research design, the paper stands out from previous analyses by including other independent variables, such as regulatory quality, rule of law and government effectiveness in assessing the relationship between corporate responsibility reporting, macroeconomic indicators, and political regime. The population comprises 58 African countries, and the sample is based on 48 African countries. Secondary data was employed to gather information on the variables. The study used a multiple regression model to examine the relationship between foreign direct investment, gross domestic product, inflation, political regime, and corporate responsibility reporting in African countries. The study found an insignificant positive relationship between the number of corporate responsibility reports, political regime, foreign direct investment, gross domestic product, and inflation after applying controls for government effectiveness, regulatory quality, and rule of law. The paper assists in understanding the relationship between political regime, macroeconomic indicators, and corporate responsibility reporting in Africa. Also, an understanding of how institutional factors influence corporate responsibility reporting in African countries could help enforcement institutions, such as the stock exchange, industry regulators and key players that monitor corporate, social, and environmental responsibility issues, to take the necessary steps to improve responsibility reporting provided by organizations in Africa. To conclude, the paper makes a unique contribution to the assessment of the relationship between macroeconomic indicators, political regime, and corporate responsibility reporting.

Macroeconomic Indicators and Economic Performance in Selected Sub Sahara African Countries: Panel Generalized Method of Moment Approach

This study empirically examined the effect of macroeconomic indicators on economic performance of selected sub Sahara African Countries between 1990 and 2017. The study employed four variables: GDP growth rate, Inflation rate, Monetary policy rate and Exchange rate and panel unit root test using two criteria to test for stationarity, panel cointegration test was also conducted to test for long run cointegration between the variables employed and Generalized Method of Moment method of estimation was employed to check the relationships between the variables. The results of the panel unit root test result from the LLC and IPS methods shows that the order of integrations mixed with some of the variables being stationary at levels (GDPgr and INFL) and first difference (MPR and EXHR) at the same time. The result of Pedroni cointegration test indicated the bivariate long-run cointegration equation between the variables employed. The GMM result revealed that all explanatory variables accounted for 23% variation of Economic performance in SSA. However, the study made the following policy implications: More balanced but flexible approach towards the MPR should be embraced to allow more room for impressive economic growth in these countries. Macroeconomic policy decision is not enough to stimulate growth in the economy of any nation. The interplay of fiscal instruments and monetary instruments backed with political will of the government on genuine implementation of well-thought out programmes can be employed as the antidote to ensure that the macroeconomic objectives are achieved both in the short and long-run.

Pengaruh Inflasi, Suku Bunga, Nilai Tukar Valas Dan Jumlah Uang Beredar Terhadap Profitabilitas Pada Perbankan Syariah Di Indonesia Periode 2005-2009

Islamic finance quality show that performance improved, as indicated by the growing share of financing for the results of mudharabah and musyarakah. This study was conducted to examine the effect of macro economic indicators as measured by inflation, interest rates, foreign currency exchange rates and money supply to the ROA of Islamic Banking in Indonesia. Data analysis techniques used in this study is multiple linear regression analysis. F test results showed that simultaneous independent variables affect ROA. While the results of t tests showed that the inflation variable showed no significant effect on ROA. This is because, when inflation is high then the public more confidence in the Islamic banking compared with conventional banking. Predictive ability of four variables on ROA in this study by 19.8%, while the remaining 80.2% influenced by other factors that are not included in the research model.