Yogyakarta-August 26th, 2020. Ahmad Maulin Naufa and Muizzudin, Students of Doctoral in Management Program, Faculty of Economics and Business, Universitas Gadjah Mada, won 3rd place in the Call for Paper held by the Financial Services Authority (OJK) in the Academic Category. The event entitled “National Seminar on Banking Policy Research 2020” was attended by finalists from various backgrounds such as students, banking practitioners, to researchers and academics.
The research of the two students those concentrating on financial management is entitled “The Covid-19, Banking Stock Price, and Indonesian Policy”. The scientific article aims to test whether COVID-19 is linked to a decline in bank stocks price and whether there are policies from the Indonesian government and authorities that can reduce its impact. Using time series daily data from January to July 2020, regression models (the ordinary least squares method or OLS and the GMM method), and robustness test, the study found that COVID-19 lowers banking stock prices, where the number of new deaths continues to increase. However, policies from policy makers can mitigate the negative impact to be insignificant on prices. Therefore, it is essential to measure the drawback of COVID-19 by providing relevant policies.
For their research contribution, Ahmad and Muizzudin received a cash prize of 15 million rupiah. Besides, these scientific articles will be published in the OJK Policy Bulletin after going through a revision process.
Congratulations on the achievements that have been made, hopefully this can inspire students of the MD FEB UGM program to incised legacy. (RP)