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This Author published in this journals
All Journal Journal of Economics, Business, & Accountancy Ventura Jurnal Ilmu Sosial Politik dan Humaniora (Jisora)
Achmad Herlanto Anggono
Institut Teknologi Bandung
Humanities Economics, Econometrics & Finance Social Sciences

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Cryptocurrency Safe Haven Property against Indonesian Stock Market During COVID-19 Mudita Gunawan; Achmad Herlanto Anggono
Journal of Economics, Business, & Accountancy Ventura Vol 24, No 1 (2021): April - July 2021
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v24i1.2661

Abstract

Safe-haven assets conserve their value or grow against another asset or portfolioduring market turmoil. Indonesian stock market, represented by the Jakarta composite index (JKSE), plunged in price because of COVID-19, pushing investors to look for safe-havens. The cryptocurrency began to be perceived as a store of value as indicated by the transaction volume increase; hence it was expected to be a safe haven asset. However, cryptocurrency’s high price volatility cast doubts on its store of value effectiveness, prompting inspection for its safe haven property as well. This research aimed to predict the assets' risk and return plus investigate whether cryptocurrency is safe haven assets against the Indonesian stock market during COVID- 19. Daily closing prices of JKSE, Bitcoin, Ethereum, Litecoin, and Ripple were used, then the GARCH model was implemented in the forecasting. DCC-GARCH model, followed by dummy variable regression, will be applied to the return data to evaluate the safe haven property. The prediction projected Bitcoin as the most profitable asset andRipple as the riskiest. The analysis and robustness test suggested that none of these cryptocurrencies were safe haven assets during the whole observation. This indicates that investors who intend to seek safe haven investments were advised against investing in these cryptocurrencies.
Bank Specific Determinants of Bank Profitability in Indonesia for The Period 2008-2019 Muhammad Luthfi Utomo; Achmad Herlanto Anggono
Jurnal Ilmu Sosial Politik dan Humaniora (JISORA) Vol 3 No 2 (2020): Jurnal Ilmu Sosial Politik dan Humaniora
Publisher : Fakultas Ilmu Sosial dan Ilmu Politik - Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (444.161 KB) | DOI: 10.36624/jisora.v3i2.45

Abstract

Banks have an important role in the economy and are the significant driver of economic growth for its financing to many industries in the economy. Thus, banks need to be maintained profitable to keep operating and avoid the major impact of bank failure. This study attempts to know the relationship between bank-specific variables of Liquid Assets to Total Assets (LATA), Non-performing Loans to Total Loans (NPLTL), Operating Cost to Operating Income (OCOI), Third-party funds to Total Assets (TPFTA), and Core Capital Tier 1 to Total Assets (TIER1TA) toward bank profitability by using Return on Assets (ROA) and Return on Equity (ROE) as the measure. The data used are 7 banks of BUKU 4 category for the period 2008-2019 in quarterly frequency. The research uses panel data regression of the fixed-effects model. The findings show that LATA is significant negative to ROA and ROE, NPLTL is significant positive to ROA and ROE, OCOI is significant negative to ROA and ROE, TPFTA is significant positive to ROA and ROE, and TIER1TA is significant negative toward ROA and ROE. Banks should maintain their operating expense low, increase their interest income, and getting a source of funds with low cost to get more profit.
Co-Authors Mudita Gunawan Muhammad Luthfi