Macroeconomic influences and equity market returns in Indonesia
by Jacinta Winarto; Ernie Tisnawati Sule; Ria Ratna Ariawati
International Journal of Business and Globalisation (IJBG), Vol. 18, No. 4, 2017

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.

Online publication date: Tue, 06-Jun-2017

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Business and Globalisation (IJBG):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com