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Journal : Fokus Ekonomi

APAKAH LOGAM MULIA MERUPAKAN SAFE HAVEN ATAU HEDGE PADA BEBERAPA PASAR MODAL DI DUNIA? Robiyanto Robiyanto; Mikha Mandela Kapahang
Fokus Ekonomi : Jurnal Ilmiah Ekonomi Vol 14, No 2: Desember 2019
Publisher : STIE Pelita Nusantara Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34152/fe.14.2.269-282

Abstract

This study attempts to analyze the ability of precious metals (gold, silver, platinum, and palladium) to act as a safe haven and hedging instruments on some of the capital market in the world. This study uses monthly data from January 2007 to December 2016. Stationarity Test, ARCH Effect Test and GARCH (1,1) Analysis are used to analyse the data. The results of this study indicate that gold is only capable of being a safe haven instruments in the capital markets of Tokyo, as well as gold are not able to be a hedging instrument for all capital markets studied. Silver is only capable of being a safe haven instruments separately Tokyo capital markets, as well as silver are not able to be a hedging instrument for all capital markets studied. Platinum is not capable of being a safe haven instruments for all capital markets studied, but platinum is able to be a hedging instrument for the Korean stock market and Tokyo. Palladium is not capable of being a safe haven instruments for all capital markets studied, but palladium is able to be a hedging instrument separately Australian capital markets, New York, Hong Kong, Korea, and Tokyo.
Co-Authors A. Harijono Adi Cahya Stefanus Adi Rahadi Putra Adiputri, Bio Labora Afi Virna Noviani Akhmadi Akhmadi Alfi Syahri Alfi Syahri Anggraeny, Wafa Anggreini Pamilangan Anisha Cahyaningrum Apriani Dorkas Rambu Atahau Ardilla Putri Naina Sari Ashalia Fitri Yuliana Ashalia Fitri Yuliana Bonita Restu Dwijayati Budi Frensidy, Budi Christina, Olivia Christopher Anthony Surya Dharma Dea Prastica Alsyahrin Dilla Andharini Eka Handriani Enrico Pranata Adiwidjojo Essy Indah Pangesti Etheldreda Gladys Salvatori Eva Nurlita Fahmi Ihwanul Arifin Farrel Tegar Giovanni Gabriela Elvina Dwiastuti Siahaan Hans Hananto Andreas Happy Catherine Harjum Muharam Hartanto, Aldhi Fajar Heny Handayani Hizkisevia Ayu Cahyapuspita Irene Rini Demi Pangestuti Isna Anggita Jenifer Christiani Bowa Kezia Viona Sugiyanto Kristiana Oktavia Kristiana Oktavia Kumar, Joseph John Allwyn Lakaba, Angriana Maria Magdalena Marwanti Mesakh Prihanto Surya Putra Mikha Mandela Kapahang Naufal Dwinanda Narra Putra Nensya Yuhanitha Nila Listiana Nurlita, Eva Nurohman Nurohman P Purwanto Pamilangan, Anggreini Patrisinus Ceasar Gunadi Paulus Hartono Prayogo Prayogo Rihfenti Ernayani Samuel Martono Silvia Putri Faridayanti Sintikhe Mega Treisya Siska Gita Pratiwi Siska Gita Pratiwi Siti Puryandani Stefan, Yonatan Alvin Stefanus, Adi Cahya Stefany Cindy Sugiyanto Sudjinan Sudjinan Sugeng Wahyudi, Sugeng Suryani, Cyndi Susanto, Auberta Danice Triyanto Ullanchiang Meillenia Tumbal Venina Cindy Kusumawati Vicho Dwindra Arisandhi Wafa Anggraeny Wisnu Mawardi Yahya Rechtiawan Djari Yehezkiel Chris Setiawan Yonatan Alvin Stefan Yunita Yunita Yunita Yunita Yunita Yunita Yuvica Lara Rovantiane Yuvica Lara Rovantiane Adicondro