research product . 2009

Exploring Determinant Factors of Bond Trading with Inventory Management Theory (Case Study of Indonesian Capital Market, January – March 2009)

Wahyudi, Imam; Robbi, Abdu;
Open Access English
  • Published: 28 Aug 2009
This paper studies trading volume of 206 recorded and publicly traded bonds in Indonesian Capital Market on January 4th - March 9th 2009 observed period. The data covers almost all trading data in the market and all brokers that exist. The microstructure data used in this study is a complete understanding for almost every phenomenons in the market, and thus could explain more about bond liquidity. We ind that some bonds are actively traded and most are rare. We also construct some determinant facto tests of bond trading volume, included descriptive statistic, GLS, and other formal test. We ind that bonds with larger par value and more s...
free text keywords: Indonesia, Capital Market, C41 - Duration Analysis ; Optimal Timing Strategies, D82 - Asymmetric and Private Information ; Mechanism Design, G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates, G23 - Non-bank Financial Institutions ; Financial Instruments ; Institutional Investors, G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill
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