The Influence of Macroeconomic on Investment Performance

Firmansyah, Muhammad; Mu'ammal, Immanuel; Anggun Tsalasa, Arini Roro

doi:10.15294/edaj.v13i3.8491

Journal

The Influence of Macroeconomic on Investment Performance

Economics Development Analysis Journal · Vol. 13 No. 3 (2024) · pp. 289–300

DOI: 10.15294/edaj.v13i3.8491
ISSN: 2502-2725, 2252-6560
Published: 2024-08-20
Publisher: Universitas Negeri Semarang
Language: eng

Abstract

Shocks caused by macroeconomic variables and monetary transmission have impacted investment portfolios in the five ASEAN countries, both in the short and long term. This research aims to evaluate each country's proficiency in managing macroeconomic variables in relation to portfolio investments. Additionally, it seeks to explore the influence of these macroeconomic variables on portfolio investment and the time required for their effects to manifest in both short-term and long-term contexts. This study is quantitative in nature and uses secondary data. The data were sourced from the central banks of the ASEAN-5 countries and from investing.com for stock price index information. The results indicate that interest rates, exchange rates, and stock price indexes significantly affect portfolio investment in the short term. In contrast, in the long term, inflation, exchange rates, and money supply were found to have a significant impact on portfolio investment. Based on these findings, it is recommended that ASEAN-5 governments focus on exchange rates and economic openness, as these factors influence portfolio investment in the region and can attract investors' interest

Keywords

Collaboration network of the authors

11 authors · 18 co-authorship links · 1 across different organisations

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

Universitas Stikubank
Universitas Gadjah Mada
Affiliation unknown

Different organisations
Same organisation
Affiliation unknown
Thicker line = more joint articles · bigger circle = more articles

Show as table

Co-author	Organisation	Joint articles
Herny Februariyanti	Universitas Stikubank	1
Jati Sasongko Wibowo	Affiliation unknown	1
Mardi Siswo Utomo	Universitas Gadjah Mada	1
La Ode Muhammad Iksan Yusuf	Affiliation unknown	1
Masyitah Masyitah	Affiliation unknown	1
Sulistiani Syafitri	Affiliation unknown	1
Sri Budi Cantika Yuli	Affiliation unknown	1
Stanislaw Flejterski	Affiliation unknown	1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/edaj/oai, first harvested 5 Nov 2026, last seen 5 Nov 2026.

Original metadata (oai_dc)

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	<dc:title xml:lang="en">The Influence of Macroeconomic on Investment Performance</dc:title>
	<dc:creator xml:lang="en">Firmansyah, Muhammad</dc:creator>
	<dc:creator xml:lang="en">Mu'ammal, Immanuel</dc:creator>
	<dc:creator xml:lang="en">Anggun Tsalasa, Arini Roro </dc:creator>
	<dc:subject xml:lang="en">Inflation</dc:subject>
	<dc:subject xml:lang="en">Portfolio Investment</dc:subject>
	<dc:subject xml:lang="en">Money Supply</dc:subject>
	<dc:subject xml:lang="en">Exchange Rate</dc:subject>
	<dc:subject xml:lang="en">Stock Price </dc:subject>
	<dc:description xml:lang="en">Shocks caused by macroeconomic variables and monetary transmission have impacted investment portfolios in the five ASEAN countries, both in the short and long term. This research aims to evaluate each country's proficiency in managing macroeconomic variables in relation to portfolio investments. Additionally, it seeks to explore the influence of these macroeconomic variables on portfolio investment and the time required for their effects to manifest in both short-term and long-term contexts. This study is quantitative in nature and uses secondary data. The data were sourced from the central banks of the ASEAN-5 countries and from investing.com for stock price index information. The results indicate that interest rates, exchange rates, and stock price indexes significantly affect portfolio investment in the short term. In contrast, in the long term, inflation, exchange rates, and money supply were found to have a significant impact on portfolio investment. Based on these findings, it is recommended that ASEAN-5 governments focus on exchange rates and economic openness, as these factors influence portfolio investment in the region and can attract investors' interest</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2024-08-20</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
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	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/edaj/article/view/8491</dc:identifier>
	<dc:identifier>10.15294/edaj.v13i3.8491</dc:identifier>
	<dc:source xml:lang="en">Economics Development Analysis Journal; Vol. 13 No. 3 (2024): Economics Development Analysis Journal; 289-300</dc:source>
	<dc:source>2502-2725</dc:source>
	<dc:source>2252-6560</dc:source>
	<dc:source>10.15294/edaj.v13i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/edaj/article/view/8491/1500</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Economics Development Analysis Journal</dc:rights>
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