The Appplication of ARMAX-GARCH in Forecasting the Stock Return Volatility of Indonesian Banking Sector: A Case of BBCA and BBRI
The volatility of stock returns in Indonesia's banking sector has become a primary concern for investors and regulators, especially amid market uncertainty. Previous studies have been limited in integrating external factors such as trading volume and the impact of the Covid-19 pandemic in volatility forecasting. This s...