Analisis Determinan Volume Perdagangan Sukuk Negara Ritel Seri Sr-007

Abstract

<jats:p>&lt;p&gt;&lt;em&gt;Trading volume of retail sukuk is the number of sheets of the State retail sukuk listed on the stock exchange. The country's retail sukuk issued to finance a deficit Budget of income and Expenditure of the State (STATE BUDGET) the purpose of this research is to examine and analyze the influence of internal factors and external factors against a trading volume of sukuk country retail series SR-007. This research uses descriptive kuantitaif approach. Researchers use the data monthly April 2015 period until March 2018. The variables used in this study is the price, the Yield to Maturity (YTM), exchange rates, For the results of Mudharabah Deposits, the BI rate, inflation and trading Volume of Sukuk Retail Series SR-007. The research analytical tool is Vector Error Correction models (VECM) using Eviews 9. The results of this research show that there is a short-term relationship between variables that influence positive YTM against trading volume of sukuk retail series SR-007. In a long term relationship variables YTM, the exchange rate, the BI Rate, and inflation provide a positive influence against the trading volume of sukuk retail series SR-007. Variable YTM on long term negative effect against the trading volume of sukuk retail series SR-007.&lt;/em&gt;&lt;/p&gt;</jats:p>

The Effect of Inflation, Exchange Rate and Yield of Retail Sukuk to Trade Volume of The Retail State Sukuk Series SR-007 in Secondary Market

“…But it will during the reverse period of research and stable exchange rate movements So that investors are not interested in diversifying their wealth on financial assets Its exchange value Sell. This results in accordance with the research [23], [33], [24], and [31] who If the exchange rate has no positive influence on the volume of the Sukuk trade in the secondary market. Unlike the research conducted by [32], [34], and [35] who stated that the exchange rate positively affects Sukuk's trading volume in the market Secondary.…”

“…Investors in secondary markets need to pay attention to inflation rates when Will sell and buy SR-007, as there are positive influences that significant inflation rates. This research supports previous research conducted by [23], [29], [30], and [31] who also declared inflation positive effect on sukuk trade volumes. So, if the level inflation increases it will affect the volume of trading sukuk.…”

Pengaruh Indikator Makroekonomi Terhadap Volume Perdagangan Sukuk Ritel di Indonesia

“…Selain itu menurut Nasrullah (2015) keberadaan sukuk ritel juga dapat menstabilkan perekonomian negara, dikarenakan sukuk ritel berperan sebagai pengendali jumlah uang beredar yang tidak menggunakan suku bunga serta menjadi instrumen penghubung antara sektor riil dan sektor keuangan. (Ni'mah & Pratomo, 2019). Menurut Nurhayadi et al (2020), volume perdagangan dapat menunjukkan kekuatan dari nilai transaksi yang diperjualbelikan pada pasar tertentu.…”

“…Perhitungan pada volume perdagangan dilakukan dengan membandingkan jumlah saham yang diperjualbelikan dalam kurun waktu tertentu dengan jumlah saham yang memiliki persamaan kurun waktu. Dalam kata lain, volume perdagangan pada sukuk yaitu dengan menghitung seluruh sukuk yang diperdagangkan di pasar sekunder dengan jumlah sukuk yang memiliki kurun waktu yang sama (Ni'mah & Pratomo, 2019). Sampai di tahun 2019 pemerintah telah menerbitkan 11 seri sukuk ritel, diantaranya SR-001, SR-002, SR-003, SR-004, SR-005, SR-006, SR-007, SR-008, SR-009, SR-010, dan SR-011.…”