Macro-Economic Determinants Sharia Share Prices
DOI:
https://doi.org/10.59086/ijest.v1i3.129Keywords:
ISSI, GDP, Inflation, ,JUB, Exchange RateAbstract
The capital market is an indicator of a country's economic progress in supporting the economy of the country concerned. The purpose of this study is to analyze the macroeconomic determinants of Islamic stock prices. The research method uses a quantitative approach to secondary data in time series with the Vector Error Correction Model (VECM) and uses the help of the eviews 9 programs. This study uses monthly data from 2017 to 2021. The results of this study indicate that in the long term the variables of GDP and INFLATION hurts ISSI, while the JUB and KURS variables have a positive and significant effect on ISSI. In the short term, the variables of GDP, INFLATION, JUB, and EXCHANGE have no effect on ISSI
References
Financial Services Authority. Sharia Capital Market Development Report 2020.
Financial Services Authority. Get to know the Islamic Capital Market.
Financial Services Authority. Market Update on the Indonesian Sharia Capital Market Period January-June 2021.
Adnyana, I Made. 2020. Investment and Portfolio Management. Jakarta: LPU-UNAS Ascarya. Application of Vector Autoregression and Vector Error Correction Model
Using Eviews 4.1.
Basuki, Agus Tri and Nano Prawoto. 2019. Regression Analysis in Economics & Business Research: Equipped with Spss & Eviews Application. Depok: Rajawali Press.
Dantes, Raymond. 2019. Sharia Capital Market Insights. East Java: Wade Group.
Ekawidyawati, May. 2021. Effect of Inflation Rate, Interest Rate, Rupiah Exchange Rate, and Gross Domestic Product on the Indonesian Sharia Stock Price Index for the 2016-2020 Period. Thesis: IAIN Tulungagung.
Hakim, Masagus Zahidal. 2020. The Effect Of Macro-Economic On The Share Index In Jakarta Islamic Index. A Research Journal on Islamic Economics. Vol. 6. No. 2.
Hidayat, Wastam Wahyu. 2019. Basic Concepts of Investment and Capital Market.
Ponorogo: Uwais Inspiration from Indonesia Indonesia.
Huda, Nurul et.al. 2013. Islamic Macroeconomics: Theoretical Approach. Jakarta: Kencana.
Junaidi, Ahmad et.al. 2021. The Effect of Macro Variables on the 2014-2019 Indonesian Sharia Stock Index (ISSI). Journal of Economics and Business. Vol. 24. No. 01.
Lisdawami, Indi Masita. 2021. Effect of Exchange Rate, Inflation and Industrial Production Index on the Jakarta Islamic Index for the 2010-2019 Period. Journal of Islamic Studies. Vol. 7. No. 1.
K, Anissa Chusnul et al. 2022. Effect of Inflation, Rupiah Exchange Rate, Total Money Supply (JUB) and Jakarta Islamic Index (JII) on Net Asset Value
Share Sharia Mutual Funds. Journal of Economics, Management and Accounting. Vol. 11. No. 1.
Kamal, Mustafa et al. 2021. The Influence of Inflation Rate and Exchange Rate (KURS) of Rupiah on the Indonesian Sharia Stock Index (ISSI). Journal of Tabarru': Islamic Banking and Finance. Vol. 4. No. 2.
Nurmansyah, Abdul Rahman and Hakiman Thamrin. 2022. Analysis Of The Influence Of Exchange, Inflation, Gross Domestic Product, Interest Rate And The Amount Of Money Circulation On The LQ45 Index In The Indonesia Stock Exchange Between 2016-2020. Journal of Syntax Admiration. Vol. 3. No. 1.
Prasetyo, Yuszril Teguh and Happy Febrina Hariyani. 2022. Effect of Macroeconomic Variables on Stock Returns on the Jakarta Islamic Index (JII) for the 2013-2020 period. Journal of Financial Economics & Investment. Vol. 2. No. 1.
Restiawan, Slamet Ardi and Rinda Asytuti. 2020. Evaluation of Macroeconomic Factors In Influencing Stock Prices. Journal of Accounting and Financial Research. Vol. 2. No. 1.
Santyaningtyas, Ayu Citra and Dina Tsalist Wildana. 2019. Sharia Investment.
Jember: UPT Printing & Publishing, University of Jember.
Sukirno, Sadono. 2013. Introduction to Macroeconomic Theory. Jakarta: Rajawali Press. Todaro, Michael P. and Stephen C. Smith. 2011. Economic Development, Trans.
Agus Dharma. Jakarta: Erlangga.
https:///www.idx.co.id/idx-syariah/index-saham-syariah/, accessed on 01 June 2022.
https:///www.ojk.go.id/id/kanal/pasar-modal/Pages/Syariah.aspx, accessed on 30 May 2022
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Rahmat Daim Harahap, Fitriani Saragih, Sugianto Sugianto, Iskandar Muda
This work is licensed under a Creative Commons Attribution 4.0 International License.
International Journal Of Economics Social And Technology under the terms of a Creative Commons Attribution 4.0 International License / CC BY 4.0 This license permits anyone to copy and redistribute this material in any form or format, compose, modify, and make derivative works of this material for any purpose, including commercial purposes, so long as they include credit to the Author of the original work.
