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The Impact of Oil-Gas and Agriculture Exports on Energy and Consumer Non-Cyclical Sector Stock Prices in Indonesia: A Case Study of the Russia-Ukraine War Anggita Wigiasti; Made Irma Lestari; Hidayatullah
Jurnal Internasional Bisnis, Humaniora, Pendidikan dan Ilmu Sosial Vol 7 No 1 (2025): International Journal of Business, Humanities, Education and Social Sciences
Publisher : Universitas Teknologi Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46923/ijbhes.v7i1.472

Abstract

The Russia-Ukraine war is one of the global conflicts that currently has a wide influence on the global economy. This certainly also affects the movement of stocks, which are one of the investment instruments. On the other hand, there are factors that also affect stock prices besides global conflicts, namely export value. Exports are known to be one of the macroeconomic factors that influences stock prices. This study aims to analyze the effect of the Russia-Ukraine war conflict on stock prices, especially the energy and consumer non-cyclical sectors by using exports as a moderating variable. The energy and the consumer non-cyclical sector were chosen because both have a large trade influence for Russia - Ukraine with the global economy. This study is a quantitative study using secondary data. Data were collected through the official websites of idx.co.id, investing.com, and bps.go.id. The data analysis method uses descriptive statistics, simple linear regression, and moderated regression analysis (MRA) tests. The results of the study showed that the Russia-Ukraine War had a significant positive effect on stock prices but changed to an insignificant effect after the addition of exports as moderating variable. Meanwhile, in the consumer non-cyclical sector, the Russia-Ukraine War produced an insignificant effect on stock prices and then had a significant negative effect after the addition of export as the moderating variable.
Analysis of Life Insurance Company Financial Performance: Early Warning System Ratios and Risk-Based Capital Before and After the Covid-19 Pandemic in Indonesia Ayunda Annisa Soleha; Made Irma Lestari
Jurnal Internasional Bisnis, Humaniora, Pendidikan dan Ilmu Sosial Vol 7 No 1 (2025): International Journal of Business, Humanities, Education and Social Sciences
Publisher : Universitas Teknologi Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46923/ijbhes.v7i1.477

Abstract

This study aims to analyze the financial performance of life insurance companies through the early warning system ratios and risk-based capital before (2019) and after the pandemic (2023). Utilizing a quantitative research approach with purposive sampling, a total of 44 samples were tested in this study as non parametric data. The data analysis method employed is descriptive analysis using the non-parametric wilcoxon signed rank test, conducted with IBM SPSS Statistics software. The results indicate that there were no significant changes in the combined ratio, retention ratio, liquidity ratio, technical reserve ratio, and risk-based capital ratio, although some positive trends were observed. Meanwhile, the investment adequacy ratio experienced a significant decline but remained within a healthy category. Overall, these findings reflect the life insurance industry's ability to stabilize its financial performance through strategic adaptation following the Covid-19 pandemic.