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All Journal Journal of Development Economic and Social Studies (JDESS) Contemporary Studies in Economic, Finance and Banking (CSEFB)
Assyifa, Baiq Siti Ainaya
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Economics, Econometrics & Finance Social Sciences

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PENGARUH DESENTRALISASI FISKAL TERHADAP PENGALOKASIAN BELANJA MODAL DI KABUPATEN DAN KOTA NUSA TENGGARA BARAT Assyifa, Baiq Siti Ainaya; Muttaqin, Aminullah Achmad
Journal of Development Economic and Social Studies Vol. 3 No. 1 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jdess.2024.03.1.2

Abstract

This study aims to determine the effect of fiscal decentralization on capital expenditure in the Districts and Cities of West Nusa Teggara in the period of 2011-2021. In this study, fiscal decentralization is represented by Original Regional Revenue (ORR), General Allocation Fund (GAF), Special Allocation Fund (SAF), and Reveneu Sharing Fund (RSF). The resources of data used are budget realization report of 10 Regency/City Regional Government Province of West Nusa Tenggara that was published at the Directorate General of Financial Balance Ministry of Finance. The type of research is quantitative. Data analysis using panel data regression analysis which is used the combination period/years of 2011-2021 time series data and used the crosssection data of 10 Regency/City Regional Governments in Province of West Nusa Tenggara. The results of the study show that Original Regional Revenue (ORR) has a insignificant effect on capital expenditure. General Allocation Fund (GAF) has positive and significant effect capital expenditure. Reveneu Sharing Fund (RSF) has a positive and significant effect on capital expenditures. Special Allocation Fund (SAF) has a positive and significant effect on capital expenditures.
Phenomenon the Day of Week and Monday Effect on the Return of The Jakarta Composite Index (JCI) Assyifa, Baiq Siti Ainaya; Hascaryani, Tyas Danarti
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.2.16

Abstract

There is enough information to influence price movements in the capital market. Investors often overreact to this information, significantly affecting their investment decisions and potentially triggering market anomalies. This study aims to analyze the day of the week effect and Monday effect anomaly on the return of the Jakarta Composite Index (JCI) at the Indonesia Stock Exchange during the period 2019-2023, using closing price data. The research employs descriptive and quantitative methods, using non-parametric statistical tests, Kruskal-Wallis and Mann-Whitney U Tests, to analyze differences in daily stock returns. The results indicate significant differences in the average stock returns across the five trading days, suggesting the presence of the day of the week effect. Additionally, it was found that returns on Monday tend to be lower and negative, supporting the existence of the monday effect. These findings suggest a violation of the weak-form efficient market hypothesis, where returns should not be predictable based on specific days. The practical implications of this study can assist investors in designing investment strategies.
Co-Authors Aminullah Achmad Muttaqin Tyas Danarti Hascaryani