IDEAS home Printed from https://ideas.repec.org/a/ids/ijbglo/v18y2017i4p539-551.html
   My bibliography  Save this article

Macroeconomic influences and equity market returns in Indonesia

Author

Listed:
  • Jacinta Winarto
  • Ernie Tisnawati Sule
  • Ria Ratna Ariawati

Abstract

The aim of this research is to compare the original model of Elton and the modificated model of Elton. In his original model, Elton uses five variables while in the modificated Elton model, we use four variables. This research uses quarterly data within the period of March 2009 and up to December 2013 of 25 liquid shares which are registered at the Indonesian Stock Exchange. The data are obtained from Indonesian Capital Market Directory and Bank Indonesia. The result obtained from the model of Elton does not show any significant variables, while in the modificated model of Elton only inflation and exchange rate have a negative significant effect on price change of stock return. This research contribution is to find which model is suitable for Indonesia.

Suggested Citation

  • Jacinta Winarto & Ernie Tisnawati Sule & Ria Ratna Ariawati, 2017. "Macroeconomic influences and equity market returns in Indonesia," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 18(4), pages 539-551.
  • Handle: RePEc:ids:ijbglo:v:18:y:2017:i:4:p:539-551
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=84368
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijbglo:v:18:y:2017:i:4:p:539-551. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carmel O'Grady) The email address of this maintainer does not seem to be valid anymore. Please ask Carmel O'Grady to update the entry or send us the correct email address. General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=245 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.