Effect of the Covid-19 Pandemic on Stock Market Return With Macro Indicators as Control Variables in Indonesia and Malaysia

Ega Arminta, Irene Rini Demi Pangestuti

Abstract


This research aims to examine the positive COVID-19 variable, the COVID-19 death variable, the COVID-19 vaccination variable, and the currency exchange rate variable as a control variable for stock market returns in Indonesia and Malaysia. The population in the test is a combination of the main indexes of the Indonesian and Malaysian stock exchanges. Sample selection using a purposive sampling method. The analytical tool used in this study is multiple linear regression analysis with 104 observational data for the period 2021-2022. The test results show that the positive COVID-19 confirmation variable has no significant effect, the COVID-19 death confirmation variable has a significant positive effect, and the COVID-19 vaccination variable has no significant effect on stock market returns


Keywords


Positive Confirmation of COVID-19, Confirmation of COVID-19 Death, COVID-19 Vaccination, Exchange Rate, Stock Market Return

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DOI: http://dx.doi.org/10.21043/bisnis.v10i2.15402

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