Pengaruh Faktor-Faktor Ekonomi Makro terhadap Jakarta Islamic Index (JII) Periode 2010-2019

Authors

  • Azim Zulkarnain Universitas Terbuka, Indonesia
  • Sufyati HS Universitas Pembangunan Nasional Veteran Jakarta, Indonesia

DOI:

https://doi.org/10.38035/jafm.v5i4.645

Abstract

This study aims to determine and analyze the influence of macroeconomic factors such as Gross Domestic Product (GDP), Inflation Rate, SBI Interest Rate, Rupiah / US Dollar exchange rate on the JII (Jakarta Islamic Index) Stock Price Index on the Indonesia Stock Exchange for the period 2010-2019. This study uses an associative quantitative approach which is intended to examine the relationship and influence between macroeconomic factors variables on the JII stock price index variable. Meanwhile, the analysis method used is multiple linear regression. The results of this study indicate that only the rupiah/US dollar exchange rate has a significant negative effect on the JII stock price index. While macroeconomic factors such as Gross Domestic Product, Inflation Rate, SBI Interest Rate have no significant effect on the JII stock price index.

References

Albaity, M. S. (2011). Impact of the monetary policy instruments on Islamic stock market index return. Economics Discussion Paper, 2011–26.

Bursa Efek Indonesia. (2010). Buku Panduan Indeks 2010. Diakses Pada 10 Desember 2018 Dari Situs Https://Www.Idx.Co.Id/Media/1481/Buku-Panduan-Indeks-2010.Pdf.

Bursa Efek Indonesia. (2018). Indeks Saham. Diakses Pada 21 Agustus 2018 Dari Situs Http://Www.Idx.Co.Id/Data-Pasar/Data-Saham/Indeks-Saham/ .

Ghozali, I. (2012). Imam Ghozali. 2012. Aplikasi Analisis Multivariate Dengan Program Ibm Spss, 20.

Hashim, S. L. M., Ramlan, H., & Rosly, M. A. M. (2018). The impact of macroeconomic variables towards Malaysian stock market. Global Business and Management Research, 10(3), 315.

Hassan, M. K., & Lewis, M. K. (2018). Handbook Perbankan Islam. Nusamedia.

Kirui, E., Wawire, N. H. W., & Onono, P. A. (2014). Macroeconomic variables, volatility and stock market returns: a case of Nairobi securities exchange, Kenya.

Marozva, G., & Magwedere, M. R. (2017). Macroeconomic variables, leverage, stock returns and stock return volatility. Acta Universitatis Danubius. Œconomica, 13(4).

Merancia, A. (2010). Pengaruh variabel makro ekonomi dan indeks regional terhadap risiko Jakarta Islamic index (JII) dan indeks harga saham gabungan (IHSG)= Influence of macroeconomic variables and regional indexes toward the risk of Jakarta Islamic Index (Jll) and indeks har.

Mulia, R. M. (2012). Hubungan variabel ekonomi makro dengan Jakarta Islamic Index dan Indeks LQ45 menggunakan metode Vector Error Correction Model (VECM) Periode 2006 - 2011. Program Pasca Sarjana, Program Studi Timur Tengah Dan Islam. Universitas Indonesia.

Nugroho, T., & Rusydiana, A. S. (2019). Macroeconomic Variables on Indonesian Sharia Capital Market. Shirkah: Journal of Economics and Business, 3(2).

Prakoso, B. (2007). Korelasi antara variabel ekonomi makro dengan Jakarta Islamic Index dan indeks harga saham gabungan di Bursa Efek Jakarta (periode 2001-2005). Jakarta: Program Magister Manajemen Universitas Indonesia.

Pratama, Y. C., & Azzis, A. (2018). Macroeconomic Variables, International Islamic Indices, and The Return Volatility in Jakarta Islamic Index. Al-Iqtishad Journal of Islamic Economics, 10(1), 171–188.

Robiyanto, R. (2018). The Effect Of Gold Price Changes, Usd/Idr Exchange Rate Changes And Bank Indonesia (BI) Rate On Jakarta Composite Index (JCI) â€TM S Return And Jakarta Islamic Index (JII) â€TM S Return. Jurnal Manajemen Dan Kewirausahaan, 20(1), 45–52.

Samsul, M. (2006). Pasar modal dan manajemen portofolio.

Downloads

Published

2024-10-20

How to Cite

Zulkarnain, A., & HS, S. (2024). Pengaruh Faktor-Faktor Ekonomi Makro terhadap Jakarta Islamic Index (JII) Periode 2010-2019. Journal of Accounting and Finance Management, 5(4), 892–901. https://doi.org/10.38035/jafm.v5i4.645

Issue

Vol. 5 No. 4 (2024): Journal of Accounting and Finance Management (September - October 2024)

Section

Articles

License

Copyright (c) 2024 Azim Zulkarnain, Sufyati HS

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors who publish their manuscripts in this journal agree to the following conditions:

  1. The copyright on each article belongs to the author(s).
  2. The author acknowledges that the Journal of Accounting and Finance Management (JAFM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
  3. Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Journal of Accounting and Finance Management (JAFM).