FOREIGN OWNERSHIP, STOCK PERFORMANCE-RISK, AND MACROECONOMIC FACTORS IN ASEAN COUNTRIES

  • Ahmad Maulin Naufa Bina Nusantara University, Indonesia
  • Mamduh M. Hanafi Universitas Gadjah Mada, Indonesia
  • I Wayan Nuka Lantara Universitas Gadjah Mada, Indonesia
Keywords: Foreign ownership;, Stock performance;, Risk;, Macroeconomic factors;, ASEAN countries

Abstract

This research examines the impact of foreign ownership on stock performance-risk and macroeconomic factors in countries of the Association of Southeast Asian Nations (ASEAN). To examine our research question, we utilize annual panel data consisting of listed companies (2007 to 2018). We find that foreign ownership enhances stock performance and gross domestic product, but it decreases risk, exchange, and interest rate. Conversely, performance and GDP attract foreign investors, but risk, exchange, and interest rates reduce it. Those results differ in diverse settings and countries.

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Published
2021-04-14
How to Cite
Naufa, A., Hanafi, M., & Lantara, I. (2021). FOREIGN OWNERSHIP, STOCK PERFORMANCE-RISK, AND MACROECONOMIC FACTORS IN ASEAN COUNTRIES. Buletin Ekonomi Moneter Dan Perbankan, 24(1), 151-168. https://doi.org/10.21098/bemp.v24i1.1165
Section
Articles