Macroeconomic Determinants of Jakarta Islamic Index

Masrizal .; M Ubaidillah Al Mustofa; S Herianingrum

Article Details

Macroeconomic Determinants of Jakarta Islamic Index

Authors:

Masrizal . | M Ubaidillah Al Mustofa | S Herianingrum

Publisher:

KnE Social Sciences

Journal:

KnE Social Sciences Vol.3 Issue 13, pp.510-524

Document Type:

Article

Publication Date:

3/2019

Document Language:

English

Document ID (Org No.):

2001517065

pISSN:

2518-668X

Keywords:

Abstract:

 Jakarta Islamic Index is used as a benchmark to measure the performance of an investment in Islamic compliance stocks. The performance of this index determines investor’s confidence to develop an investment in sharia equity. This study aims to analyse the influence of macroeconomic indicators consisting of country risk, sharia bank certificates, inflation, exchange rate, and oil prices to Jakarta Islamic Index. The research uses quantitative approach with multiple regression analysis in EViews to help reach the goal. Empirical results show that, independent variables consisting of composite risk, sharia bank certificate, inflation, exchange rate, and oil price simultaneously influence the Jakarta Islamic Index with a significance rate and coefficient determination of 47.55%. Inflation shows no significant and major role in determining Jakarta Islamic Index, while country risk, sharia bank certificate, exchange rate, and oil price influence significantly the dependent variable.

Article Details

Macroeconomic Determinants of Jakarta Islamic Index

Authors:

Masrizal . | M Ubaidillah Al Mustofa | S Herianingrum

Publisher:

KnE Social Sciences

Journal:

KnE Social Sciences Vol.3 Issue 13, pp.510-524

Document Type:

Article

Publication Date:

3/2019

Document Language:

English

Document ID (Org No.):

2001517065

pISSN:

2518-668X

JII

Islamic Index

Country Risk

Sharia Bank Certificates

Inflation

Exchange rate

oil price.

Issues

Article Details

Authors: Masrizal . | M Ubaidillah Al Mustofa | S Herianingrum

Publisher: KnE Social Sciences

Journal: KnE Social Sciences Vol.3 Issue 13, pp.510-524

Document Type: Article

Publication Date: 3/2019

Document Language: English

Document ID (Org No.): 2001517065

pISSN: 2518-668X

Issues

Authors:

Masrizal . | M Ubaidillah Al Mustofa | S Herianingrum

Publisher:

KnE Social Sciences

Journal:

KnE Social Sciences Vol.3 Issue 13, pp.510-524

Document Type:

Article

Publication Date:

3/2019

Document Language:

English

Document ID (Org No.):

2001517065

pISSN:

2518-668X