Pengaruh Indikator Makro Dan Harga Emas Dunia Terhadap Indeks Harga Saham Syariah (Jakarta Islamic Index)

Agestiani, Ari; Sutanto, Himawan

doi:10.35829/econbank.v1i1.1

Cited by 12 publications

(19 citation statements)

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“…Gold has a significant negative effect on JII, which means that a one percent increase in gold can cause a decrease in JII by as much as 5.03 percent. The results are not in accordance with Utoyo & Riduwan [13], Agestiani & Sutanto [14] where gold has a positive effect. However, according to Setiawan's research [15], gold has a negative, insignificant effect.…”

Section: Vector Error Corrction Model (Vecm)contrasting

confidence: 70%

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Interaction of International Sharia Stock Indices, Exchange Rates and Gold Prices against Jakarta Islamic Index (JII)

Azis¹,

Juliana²,

Junaid³

et al. 2021

Proceedings of the 3rd Beehive International Social Innovation Conference, BISIC 2020, 3-4 October 2020, Bengkulu, Indonesia

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The purpose of this study was to determine the long-term, short-term and causal relationship between the World Islamic Stock Index, Exchange Rates and Gold Prices on the Jakarta Islamic Index (JII). The analysis tool used is the Vector Autoregression (VAR) method if the data is stationary at the level. If the data is not stationary at the first difference level, the Vector Error Correction Model (VECM) method is used. The results of the stationary test show that the research data is stationary at the first difference level so it is continued for the VECM model. VECM analysis results in the long term The Dow Jones Islamic Market Index Europe (DJIEU), The US Dow Jones Islamic Market Index (IMUS) and gold prices have a significant negative effect on The JII. The Dow Jones Islamic Market Index Japan (DJIJP) has a significant positive effect on JII. The results of VECM analysis in the short term IMUS index, DJIJP and gold prices have a significant positive effect on JII. The Impulse Response Function (IRF) results show that JII fluctuates with shock to achieve stability. The average time needed to achieve stability is after the 14th period. Then the results of the Forecasting Error of Variance Decomposition (FEVD) analysis starting from the 50th period show that JII has an effect of 96 percent, IMUS affects JII by 3.36 percent, DJIEU 2.72 percent, Gold 0.65 percent, DJIJP 0.10 percent, Exchange rate 0.052 percent and DJIM25 0.028 percent.

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Section: Vector Error Corrction Model (Vecm)contrasting

confidence: 70%

“…Utoyo & Riduwan [13], Agestiani & Sutanto [14], found that the gold price on the Jakarta Islamic Index (JII) has a positive effect. However, Setiawan [15], partially, the World Gold Price Variable has no significant effect on JII.…”

Section: Introductionmentioning

confidence: 99%

Interaction of International Sharia Stock Indices, Exchange Rates and Gold Prices against Jakarta Islamic Index (JII)

Azis¹,

Juliana²,

Junaid³

et al. 2021

Proceedings of the 3rd Beehive International Social Innovation Conference, BISIC 2020, 3-4 October 2020, Bengkulu, Indonesia

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“…Dengan kata lain JII menjadi panduan bagi investor yang takut dana investasinya tercampur dengan dana ribawi. Kemudian JII juga menjadi patokan kinerja (Benchmark) dalam memilih portofolio saham investasi syariah [19]. JII merupakan salah satu tolak ukur untuk mengukur kinerja investasi syariah di saham.…”

Section: Pendahuluanunclassified

Pengaruh Fluktuasi Kurs dan Jumlah Uang Beredar terhadap Performa Indeks Harga Saham Gabungan dengan Jakarta Islamic Index Sebagai Pemediasi

Saputri

2022

jbeupiyptk

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Penelitian Ini Bertujuan Untuk Mengetahui Pengaruh Fluktuasi Kurs Valas Dan Jumlah Uang Beredar Terhadap Peforma Indeks Harga Saham Gabungan Dengan Kajian Jakarta Islamic Sebagai Variabel Intervening Yang Terdaftar Pada Bei Periode 2017-2021. Sampel pada penelitian ini diambil dengan metode sampel jenuh (sensus) pada Indeks Harga Saham Gabungan, Kurs Valas, Jumlah Uang Beredar dan Jakarta Islamic Index yang terdaftar Di Bursa Efek indonesia 2017-2021. Jumlah Data yang digunakan sebanyak 240 data dari 60 bulan Pengamatan. Metode analisis dari penelitian ini adalah menggunakan metode analisi Regresi Linier Berganda. Hasil penelitian ini menunjukkan bahwa secara parsial Kurs Valas berpengaruh signifikan terhadap Jakarta Islamic Index, Jumlah Uang Beredar berpengaruh signifikan terhadap Jakarta Islamic Index, Kurs valas Berpengaruh Signifikan terhadap indeks harga saham gabungan, Jumlah Uang Beredar berpengaruh signifikan terhadap Indeks Harga Saham Gabungan, Jakarta Islamic Index berpengaruh signfikan terhadap Indeks Harga Saham Gabungan, kurs Valas berpengaruh signifikan terhadap Index Harga Saham Gabungan melalui Jakarta Islamic Index sebagai variabel Intervening, Jumlah Uang Beredar tidak berpengaruh signifikan terhadap Index Harga Saham Gabungan melalui Jakarta Islamic Index sebagai variabel Intervening pada Bursa Efek Indonesia periode 2017-2021, kontribusi dari variabel independen Kurs Valuta Asing (X1), Jumlah Uang Beredar (X2) dan Jakarta Islamic Index (Z) terhadap variabel dependen Indeks Harga Saham Gabungan (Y) sebesar 0,760 atau 76%. Sedangkan sisanya sebesar 0,24 atau 24% dipengaruhi oleh variabel lain diluar penelitian

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“…Significant effect on the Indonesian Sharia Stock Index (ISSI). Furthermore, research according to Agestiani and Sutanto (2019) found that world gold prices positively affected the Jakarta Islamic Index (JII).…”

Section: Introductionmentioning

confidence: 99%

Global Risk Factors and Macroeconomic Conditions Affect Jakarta Islamic Index (JII): Evidence from Indonesia

Husnah

Nugraha

Rizal

2022

MIEC

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This study aims to analyze three things, namely analyzing the causality relationship between variables. Analyze the short-term relationship between macroeconomic variables with JII Stock Price and Trade Volume and analyze the long-term relationship between macroeconomic variables with JII Stock Price and Trade Volume. The sample used is the JII30 Index and the trading volume from JII 30 from 2008-2020. The results of this study indicate three things, firstly it is found that several variables have a causal relationship in either one or two directions, then from testing the short-term effect it is found that only the oil price variable has a significant effect on JII while other variables do not, while the short-term effect test It was found that all macroeconomic variables had no significant effect on volume. Finally, from the long-term test results, only the Inflation variable has no significant effect on the JII variable in the long term, while only the BI Rate and Inflation variables have no significant effect on trading volume.

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Pengaruh Indikator Makro Dan Harga Emas Dunia Terhadap Indeks Harga Saham Syariah (Jakarta Islamic Index)

Cited by 12 publications

References 0 publications

Interaction of International Sharia Stock Indices, Exchange Rates and Gold Prices against Jakarta Islamic Index (JII)

Interaction of International Sharia Stock Indices, Exchange Rates and Gold Prices against Jakarta Islamic Index (JII)

Pengaruh Fluktuasi Kurs dan Jumlah Uang Beredar terhadap Performa Indeks Harga Saham Gabungan dengan Jakarta Islamic Index Sebagai Pemediasi

Global Risk Factors and Macroeconomic Conditions Affect Jakarta Islamic Index (JII): Evidence from Indonesia

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