Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal Journal of Digital Business and Marketing Review of Multidisciplinary Academic and Practice Studies
Brady Rikumahu
Telkom University, Indonesia
Economics, Econometrics & Finance Other

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Financial contagion analysis on asset return of S&P 500 Index, Shanghai Index, and Hang Seng Index with Jakarta Composite Index for the period 2017 – 2023 Ferdy Fardian; Brady Rikumahu
Journal of Digital Business and Marketing Vol. 1 No. 1 (2025): February
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jdbm.v1i1.3316

Abstract

Purpose: This study investigates financial contagion—the transmission of risk and instability between markets and using the co-volatility contagion test method developed by Fry-McKibbin (2018). This study aims to analyze the volatility linkages among major global stock markets and their impact on Indonesia’s market during economic crises. Research Methodology: This study examines daily asset returns from January 2017 to December 2023 for the S&P 500 Index (SPX, United States), Shanghai Composite Index (SCI, China), Hang Seng Index (HSI, Hong Kong), and Jakarta Composite Index (JCI, Indonesia). The co-volatility contagion framework measures changes in market correlations between crisis and non-crisis periods. Results: The findings reveal contagion from SPX, SCI, and HSI to the JCI, with varying co-volatility patterns. The SPX–JCI relationship shows significantly positive co-volatility differences that decline during crises, indicating synchronized but independent movements under global uncertainty. The SCI–JCI differences were significantly negative with low magnitudes, suggesting opposite movement tendencies during crises. HSI–JCI differences were also significantly negative, reflecting reduced connectivity and divergent responses to global risks. Conclusions: Distinct co-volatility patterns indicate different market sensitivities to global uncertainty, emphasizing the importance of tailored investment and policy strategies. Limitations: This study focuses on four markets and a defined time span, potentially limiting generalizability. However, it does not account for sector-specific contagion effects. Contribution: This study provides empirical evidence of volatility transmission mechanisms, offering valuable insights for investors, market participants, and policymakers to enhance risk assessment and investment strategies.
Capital Structure, Investment Growth, and Liquidity Effects on Automotive Companies’ Financial Performance Riska Mandasari; Brady Rikumahu
Review of Multidisciplinary Academic and Practice Studies Vol 1 No 2 (2024): August
Publisher : LPPM STIE KRAKATAU

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61401/rmaps.v1i2.131

Abstract

Purpose: This study analyzes the influence of capital, investment, and liquidity structures on the financial performance of automotive companies and their components listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. Methodology: The study used multiple regression analysis with data obtained from annual financial reports. A purposive sampling technique selected 15 automotive companies as the sample. Results: The results show that capital structure has a significantly positive effect on financial performance, while investment and liquidity do not significantly affect financial performance. Conclusions: This study concludes that capital structure significantly improves financial performance, while investment growth and liquidity do not have a significant effect on automotive companies’ performance. Effective capital management is essential for enhancing financial outcomes. Limitation: The study's limitation is that it focuses solely on automotive companies listed on the Indonesia Stock Exchange during the specified timeframe. Contribution: This study provides empirical evidence on financial factors affecting automotive companies’ performance and offers insights for investors, creditors, and financial managers.
Co-Authors Ferdy Fardian Riska Mandasari