DETERMINANT YIELD GOVERNMENT BOND TRADED FROM 2016 TO 2021
DOI:
https://doi.org/10.31933/dijms.v3i1.980Keywords:
Yield, BI 7-Day Repo Rate, Inflation, Money Supply, Indonesia Composite Index, Kurs USD/IDRAbstract
A Government Bond is a significant financial instrument for the state budget of Indonesia Government. It has become important and quite attractive among other financial instruments. Using BI 7-Day Repo Rate, Inflation, Money Supply, Indonesia Composite Index, and USD/IDR Exchange Rate as independent variables, this research has been done to determine Government Bond Yield. The research population is bond issued by Indonesia Government. The sampling is 10-years traded Government Bond fixed rate serries during 2016-2021 with 300 data collected which since 2020 Indonesia has been facing the Covid-19 pandemic that affected the global economy and financial markets. This research finds that Government Bond Yield positively affected by BI 7-Day Repo Rate, Inflation Rate, and USD/IDR Exchange Rate, while negatively affected by Money Supply, yet Indonesia Composite Index and Covid-19 pandemic has no effect on the Government Bond Yield.
References
Adiwibowo, P., Sihombing, P., (2019). Determinant of Government Bond Yields. DIJDBM E-ISSN: 2715-4203, P-ISSN: 2715-419X, Volume 1, Issue 1, December 2019
Badan Pusat Statistik, https://www.bps.go.id/. (23 September 2020)
Central Bank of Indonesia, (2020). https://www.bi.go.id/. (22 September 2020)
Benny Budiawan Tjandrasa (Indonesia), Hotlan Siagian (Indonesia), Ferry Jie (Australia), (2020). The macroeconomic factors affecting government Bond yield in Indonesia, Malaysia, Thailand, and the Philippines. DOI: 10.21511. ISSN PRINT 1810-4967 ISSN ONLINE 1812-9358, Business Perspective, Investment Management and Financial Innovations, Volume 17, Issue 3, 2020
Cooper, D. R., & Schindler, P. S. (2014). Business Research Methods. New York: McGraw-Hill Irwin
Ehrhardt, M. C., & Brigham, E. F. (2011). Financial Management: Theory and Practice. South-Western Cengage Learning.
Ichsan, M., Agusalim, L., Abdullah, Z., (2018). Dampak Ekonomi Makro Terhadap YIELD Surat Berharga Negara: Studi Empiris Di Indonesia. MDOI: http://dx.doi.org/10.21107/13 (2) 2018 p. 178-187
Ministry of Trade RI, 2019. Trading Statistic Portal
Kurniasih, P., Restika, Y., (2015). The influence of Macroeconomic Indicators and Foreign Ownership on Government Bond Yields: A Case of Indonesia. Mediterranean Journal of Social Sciences, MCSER Publishing, Rome-Italy, Vol 6 No 5 S5 October 2015, ISSN 2039-2117 (online) ISSN 2039-9340 (print)
Laucereno, S., (2020). https://finance.detik.com/moneter/d-5176926/bi-tahan-bunga-acuan-di-4-lagi (20 September 2020)
Mankiw, G. (2009: 149). Macroeconomics, Harvard University. New York: Worth Publishers. ISBN-13: 978-1-4292-4002-4, ISBN-10: 1-4292-4002-4
May, E. (2018). Mengenal Indeks Saham, https://finance.detik.com/saham/d-4090160/mengenal-indeks-saham (27 November 2020 pkl 22.16 wib)
Mulyanto P, (2020). Manfaatkan Masa Pandemi Untuk Berinvestasi. Media Indonesia (14 August 2020)
Sundoro, H., (2018), Pengaruh Faktor Makro Ekonomi, Faktor Likuiditas dan Faktor Eksternal Terhadap Yield Obligasi Pemerintah Indonesia. Journal of Business & Applied Management, Vol.11 (No. 1): 114 - 115. Th. 2018 ISSN: 1979-9543
Susilawaty, L., Purwanto, E., Febrina, S., (2018). Faktor–Faktor Yang Mempengaruhi Pengambilan Keputusan Investasi Di Pasar Modal Indonesia. National Conference of Creative Industry: Sustainable Tourism Industry for Economic Development E- ISSN No: 2622-7436
Tandelilin, E. (2010). Portofolio dan Investasi: Teori dan Aplikasi, Yogyakarta Kanisius 2010
World Government Bonds, (2020). worldgovernmentbonds.com/ indonesia-10-years-vs-united-states-10-years. (8 October 2020)
Hutauruk, D. (2020). Prospek Investasi Obligasi Tahun 2021 Masih Manarik. https://keuangan. kontan.co.id/news/ pada 5 June 2021
Nirmalasari, I. (2021). Tren Kenaikan Obligasi Bakal Berlanjut Hingga Semester I 2021. https://investasi.kontan.co.id/news/ tren-kenaikan-obligasi-bakal-berlanjut-hingga-semester -i-2021 pada 6 June 2021
Prakoso, J. (2021). Dihantam Covid-19 Inflasi 2020 Terendah Sejak 2004. Diunduh dari: https://ekonomi.bisnis.com/read/ 12 June 2021
Kementerian Keuangan , (2021). Aktifitas Pasar Modal Indonesia di Era Pandemi. https://www.djkn.kemenkeu.go.id/ artikel/baca/13817/ Aktivitas Pasar Modal Indonesia di Era Pandemi. html 13 June 2021
Investing.com, (2021). Phillipines 10 Year Bond Yield. https://id.investing.com/rates-bonds/philippines-10-year-bond-yield 27 May 2021
Bank Indonesia, (2021). Tinjauan Kebijakan Moneter Mei 2021. Departemen Kebijakan Moneter dan Ekonomi BI
Ministry of Finance, (2021). Pertumbuhan Ekonomi Indonesia. Kemenkeu.go.id 20 July 2021
Badan Pusat Statistik, https://www.bps.go.id/. (23 September 2020)
Central Bank of Indonesia, (2020). https://www.bi.go.id/. (22 September 2020)
Benny Budiawan Tjandrasa (Indonesia), Hotlan Siagian (Indonesia), Ferry Jie (Australia), (2020). The macroeconomic factors affecting government Bond yield in Indonesia, Malaysia, Thailand, and the Philippines. DOI: 10.21511. ISSN PRINT 1810-4967 ISSN ONLINE 1812-9358, Business Perspective, Investment Management and Financial Innovations, Volume 17, Issue 3, 2020
Cooper, D. R., & Schindler, P. S. (2014). Business Research Methods. New York: McGraw-Hill Irwin
Ehrhardt, M. C., & Brigham, E. F. (2011). Financial Management: Theory and Practice. South-Western Cengage Learning.
Ichsan, M., Agusalim, L., Abdullah, Z., (2018). Dampak Ekonomi Makro Terhadap YIELD Surat Berharga Negara: Studi Empiris Di Indonesia. MDOI: http://dx.doi.org/10.21107/13 (2) 2018 p. 178-187
Ministry of Trade RI, 2019. Trading Statistic Portal
Kurniasih, P., Restika, Y., (2015). The influence of Macroeconomic Indicators and Foreign Ownership on Government Bond Yields: A Case of Indonesia. Mediterranean Journal of Social Sciences, MCSER Publishing, Rome-Italy, Vol 6 No 5 S5 October 2015, ISSN 2039-2117 (online) ISSN 2039-9340 (print)
Laucereno, S., (2020). https://finance.detik.com/moneter/d-5176926/bi-tahan-bunga-acuan-di-4-lagi (20 September 2020)
Mankiw, G. (2009: 149). Macroeconomics, Harvard University. New York: Worth Publishers. ISBN-13: 978-1-4292-4002-4, ISBN-10: 1-4292-4002-4
May, E. (2018). Mengenal Indeks Saham, https://finance.detik.com/saham/d-4090160/mengenal-indeks-saham (27 November 2020 pkl 22.16 wib)
Mulyanto P, (2020). Manfaatkan Masa Pandemi Untuk Berinvestasi. Media Indonesia (14 August 2020)
Sundoro, H., (2018), Pengaruh Faktor Makro Ekonomi, Faktor Likuiditas dan Faktor Eksternal Terhadap Yield Obligasi Pemerintah Indonesia. Journal of Business & Applied Management, Vol.11 (No. 1): 114 - 115. Th. 2018 ISSN: 1979-9543
Susilawaty, L., Purwanto, E., Febrina, S., (2018). Faktor–Faktor Yang Mempengaruhi Pengambilan Keputusan Investasi Di Pasar Modal Indonesia. National Conference of Creative Industry: Sustainable Tourism Industry for Economic Development E- ISSN No: 2622-7436
Tandelilin, E. (2010). Portofolio dan Investasi: Teori dan Aplikasi, Yogyakarta Kanisius 2010
World Government Bonds, (2020). worldgovernmentbonds.com/ indonesia-10-years-vs-united-states-10-years. (8 October 2020)
Hutauruk, D. (2020). Prospek Investasi Obligasi Tahun 2021 Masih Manarik. https://keuangan. kontan.co.id/news/ pada 5 June 2021
Nirmalasari, I. (2021). Tren Kenaikan Obligasi Bakal Berlanjut Hingga Semester I 2021. https://investasi.kontan.co.id/news/ tren-kenaikan-obligasi-bakal-berlanjut-hingga-semester -i-2021 pada 6 June 2021
Prakoso, J. (2021). Dihantam Covid-19 Inflasi 2020 Terendah Sejak 2004. Diunduh dari: https://ekonomi.bisnis.com/read/ 12 June 2021
Kementerian Keuangan , (2021). Aktifitas Pasar Modal Indonesia di Era Pandemi. https://www.djkn.kemenkeu.go.id/ artikel/baca/13817/ Aktivitas Pasar Modal Indonesia di Era Pandemi. html 13 June 2021
Investing.com, (2021). Phillipines 10 Year Bond Yield. https://id.investing.com/rates-bonds/philippines-10-year-bond-yield 27 May 2021
Bank Indonesia, (2021). Tinjauan Kebijakan Moneter Mei 2021. Departemen Kebijakan Moneter dan Ekonomi BI
Ministry of Finance, (2021). Pertumbuhan Ekonomi Indonesia. Kemenkeu.go.id 20 July 2021
Downloads
Published
2021-09-28
How to Cite
Mia Agusty, R., & Santoso Marsoem, B. . (2021). DETERMINANT YIELD GOVERNMENT BOND TRADED FROM 2016 TO 2021. Dinasti International Journal of Management Science, 3(1), 67–82. https://doi.org/10.31933/dijms.v3i1.980
Issue
Section
Articles
License
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Dinasti International Journal of Management Science (DIJMS) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Dinasti International Journal of Management Science (DIJMS).
