ANALISIS PENGARUH KEBEBASAN EKONOMI TERHADAP HARGA SAHAM DI LIMA NEGARA ASEAN

Dwi Wulandari

Abstract


The purpose of this research was to test whether economic freedom (business freedom, trade freedom, fiscal freedom, government size, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption had impact to stock prices in five ASEAN countries namely Singapore, Malaysia, Philippine, and Indonesia. We used a quantitative approach by applying multiple regression with pooling data in the period of 1998-2013. The result showed that there were seven variables influenced stock prices in ASEAN, five variables with positive impact, they were government size, fiscal freedom, financial freedom, monetary freedom, trade freedom and two variables with negative impact. They were business freedom and property rights. While freedom from corruption and investment freedom, had no impact on stock prices.The result of this research showed that there was a relationship between the institutional aspect of a country and the stock price in the country. This has been shown by the relationship between economic freedom and stock prices in five ASEAN countries

Keywords


stock price, economic freedom, business freedom, trade freedom, fiscal freedom, government size, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption

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References


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