The Influence of Inflation, Sukuk, and Mutual Funds On The Indonesian Sharia Stock Index (ISSI)
DOI:
https://doi.org/10.47134/jeae.v2i2.517Keywords:
Infalation, Sukuk, Mutual FundAbstract
From 2018 - 2023 there were fluctuations in the value of the Islamic Stock Index. This study uses associative tests to analyze and obtain empirical evidence, whether inflation, sukuk and mutual funds have a significant effect on the Indonesian Islamic stock index. The data used is secondary data taken from the official website, namely www.ojk.go.id, and www.bps.go.id. The results of this study, individually sukuk has a negative and insignificant effect on the Indonesian Islamic stock index, then individually sukuk and mutual funds have a positive and significant effect on the Indonesian Islamic stock index. But simultaneously the three independent variables have a significant effect on the Indonesian Islamic stock index with an influence value of 69.7%, where the other 30.3% value is influenced by other variables not included by researchers.
References
Amanah, N. K. (2019). Value of moral bounded: Portfolio management with Shari’a compliance paradigm (Study of Indonesian markets). International Journal of Innovation, Creativity and Change, 7(6), 17–38. https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85076272179&origin=inward
Febriandika, N. R. (2023). Contagion and spillover effects of global financial markets on the Indonesian Sharia Stock Index post-COVID-19. Investment Management and Financial Innovations, 20(3), 35–47. https://doi.org/10.21511/imfi.20(3).2023.04 DOI: https://doi.org/10.21511/imfi.20(3).2023.04
Halisania, P. N., Jafar, M. I., Wahyuningsi, D., & Azizah, N. (2024). Pengaruh Inflasi, Kurs, PDB, Jumlah Uang Beredar, dan BI Rate Terhadap Indeks Saham Syariah Indonesia. Advances In Social Humanities Research, 2(1), 1–14. DOI: https://doi.org/10.51339/nisbah.v5i2.2783
Hersugondo, H. (2022). Price Index Modeling and Risk Prediction of Sharia Stocks in Indonesia. Economies, 10(1). https://doi.org/10.3390/economies10010017 DOI: https://doi.org/10.3390/economies10010017
Insani, V. D. (2020). Company’s financial performance before and after registering on indonesia sharia stock index. Opcion, 36(91), 309–325. https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85084990207&origin=inward
Irawan, & Siregar, Z. A. (2019). Pengaruh Pasar Modal Syariah terhadap Pertumbuhan Ekonomi Indonesia. SNISTEK, 2(September), 97–102.
Irmadariyani, R. (2019). Empirical investigation of the role of Sharia’s corporate social responsibility on the relationship between firm size and profitability. International Journal of Scientific and Technology Research, 8(7), 18–22. https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85071741868&origin=inward
Kamal, M., Kasmawati, Rodi, Thamrin, H., & Iskandar. (2021). Pengaruh Tingkat Inflasi dan Nilai Tukar Terhadap Indeks Saham Syariah Indonesia (ISSI). Jurnal Tabarru’ : Islamic Banking And Finance, 4(November). DOI: https://doi.org/10.25299/jtb.2021.vol4(2).8310
Litriani, D. Y. & E. (2017). Pengaruh Inflasi dan Nilai Tukar Rupiah Terhadap Harga Saham di Sektor Indusstri Barang Konsumsi Pada Indeks Saham Syariah Indonesia (ISSI). I-Finance, 1(1), 31–52.
Nasrifah, M. (2019). Sukuk (Obligasi Syariah) Dalam Perspektif Keuangan Islam. Asy-Syari’ah, 5(2), 65–79. DOI: https://doi.org/10.36835/assyariah.v5i2.120
Nurhidayah, D., Hidayati, A. N., & Habib, M. A. F. (2022). Pengaruh Inflasi , Saham Syariah , Sukuk dan Reksadana Syariah terhadap Pertumbuhan Ekonomi Nasional Tahun 2013-2020 The Influence of Inflation , Sharia Stock , Sukuk and Sharia Mutual Funds on National. Jurnal Sinar Manajemen, 09(1), 158–173. DOI: https://doi.org/10.56338/jsm.v9i1.2435
Nurwahida, Sugianto, & Jannah, N. (2022). Pengaruh Ekspor , Reksadana Syariah dan Utang Luar Negeri Terhadap Pertumbuhan Ekonomi Nasional Periode 2012-2020. JIEI, 8(02), 1584–1597.
Putra, D. H., Shafa, & Anwaril H. (2023). Pengaruh Inflasi , Saham Syariah , Sukuk , Reksadana Syariah Dan Asuransi Syariah Terhadap Pertumbuhan Ekonomi Di Indonesia Tahun. IFEJ, 3(1), 1–18. DOI: https://doi.org/10.21093/bifej.v3i1.6259
Rusmita, S. A. (2020). The effect of environmental disclosures on ISSI company stock prices. International Journal of Innovation, Creativity and Change, 10(12), 488–501. https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85079800405&origin=inward
Setyani, O. (2017). Pengaruh Inflasi dan Nilai Tukar Terhadap Indeks Saham Syariah. Jurnal Ekonomi Islam, 8(2), 213–238. DOI: https://doi.org/10.32678/ijei.v8i2.76
Suciningtias, S. A., & Khoiroh, R. (2013). Analisis Dampak Variabel Makro Ekonomi Terhadap Indeks Saham Syariah Indonesia. CBAM, 398–412.
Susanti, R. L. (2021). Pengaruh Saham Syariah dan Sukuk yang Terdaftar di JII Terhadap Produk Domestik Bruto ( PDB ) Indonesia Tahun 2015-2019. Tawazun : Journal of Sharia Economic Law, 4(2), 220–229. DOI: https://doi.org/10.21043/tawazun.v4i2.11364
Syaiful, M., & Dwi, A. (2020). Analisis Pengaruh Inflasi dan Kurs Terhadap Indeks Saham Syariah Indonesia (ISSI). I-FINANCE, 06(01), 7–14. DOI: https://doi.org/10.19109/ifinance.v6i1.5288
Yanti, R. (2017). Analisis Pengaruh Jakarta Islamic Index, Index Syariah Indonesia dan Jumlah Reksadana Terhadap Kinerja Reksadana Syariah.
Zaenurrohman. (2023). Indonesian Sharia stock index forecasting with Chen’s, Chen & Hsu’s, and Markov chain’s fuzzy time series. AIP Conference Proceedings, 2738. https://doi.org/10.1063/5.0141636 DOI: https://doi.org/10.1063/5.0141636
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Melanie Octavia, Natasha, Sabrina Rizky Amalia, Seprianto Purba, Claudia Jeremia Silitonga, Heriyati Chrisna
This work is licensed under a Creative Commons Attribution 4.0 International License.
