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Gold VS Bond: What Is the Safe Haven for the Indonesian and Malaysian Capital Market?
Gadjah Mada International Journal of Business Pub Date : 2018-12-30 , DOI: 10.22146/gamaijb.27775
Robiyanto Robiyanto

This study scrutinizes the potency of gold and bonds as safe haven assets for the Indonesian and Malaysian capital markets, because some previous studies have been undertaken in established market settings. The research period for this study was from June 2008 to September 2016. The quantile regression technique was used to analyze the data. The results of this study indicated that gold did not have a role as a safe haven for the Indonesian capital market, but did have a role as the safe haven for the Malaysian capital market. This study also found that Indonesian government bonds, Malaysian government bonds, and Malaysian corporate bonds could not act as safe haven assets. In contrast, corporate bonds in Indonesia had the potency to perform the function of a safe haven for stocks on the Indonesian Stock Exchange.

中文翻译:

黄金VS债券:印尼和马来西亚资本市场的避风港是什么?

这项研究仔细研究了黄金和债券作为印尼和马来西亚资本市场的安全港资产的潜力,因为先前的一些研究都是在既定的市场环境中进行的。本研究的研究期间为2008年6月至2016年9月。使用分位数回归技术分析数据。这项研究的结果表明,黄金在印尼资本市场上没有起到避风港的作用,但在马来西亚资本市场上却起到了避风港的作用。这项研究还发现,印尼政府债券,马来西亚政府债券和马来西亚公司债券不能充当避险资产。相比之下,印尼的公司债券具有履行印尼证券交易所股票避风港的功能。
更新日期:2018-12-30
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