Strong Correlations of Sharia Market To Conventional Market: Evidence From Indonesia Stock Exchange

Nurhayadi, Yadi; Wijiharjono, Nuryadi

doi:10.28918/ijibec.v1i2.1003

Cited by 2 publications

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“…In a study entitled "Strong Correlations of Sharia Market to Conventional Market: Evidence from Indonesia Stock Exchange" said that the CSPI and LQ45 partially or simultaneously had a strong positive correlation to JII or ISSI. These results lead to the conclusion that between the Islamic market and conventional markets are still strongly correlated [5].…”

Section: A) Sharpe's Measeurementioning

confidence: 87%

Comparative Analysis of Conventional and Sharia Food and Beverages Company’s Stocks Performance Companies Towards IHSG

Putri¹,

Nurhayadi²,

Heriansyah³

2020

Proceedings of the 2nd International Conference of Business, Accounting and Economics, ICBAE 2020, 5 - 6 August 2020, Purwoker

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This research is aimed to determine how the relationship between conventional and sharia stock performance of food and beverages companies with Composite Stock Price Index (IHSG) and then comparison that stock performance of both companies whom listed in Indonesia Stock Exchange (BEI) and Indonesian Sharia Stock Index (ISSI) during 2015-2019. The result of this research is the conventional stock performance hasn't a significant effect while the sharia stock performance has a significant positive effect on IHSG. The result of multiple linear regression analysis, conventional stock performance is inversely proportional or negatively while sharia stock performance is directly proportional or positively affected by return of IHSG. Then the calculation of return showed that sharia food and beverage companies has a better performance than conventional food and beverage companies. The value of risk adjusted performance showed that sharia's food and beverage companies have a lower level of risk which means more guarantees of investment securities. On independent sample t test showed a result there's no significant difference between conventional and sharia's food and beverages of stocks performance.

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Section: A) Sharpe's Measeurementioning

confidence: 87%

Comparative Analysis of Conventional and Sharia Food and Beverages Company’s Stocks Performance Companies Towards IHSG

Putri¹,

Nurhayadi²,

Heriansyah³

2020

Proceedings of the 2nd International Conference of Business, Accounting and Economics, ICBAE 2020, 5 - 6 August 2020, Purwoker

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“…For example, the inspiration for this research is a series of studies by Nurhayadi and friends. Research has been conducted by (Nurhayadi & Wijiharjono, 2018) shows that a high correlation between the Islamic market and conventional markets. They assume the Jakarta Islamic Index (JII) and the Indonesia Sharia Stock Index (ISSI) as a representation of the sharia market and the Jakarta Composite Index (IHSG) and the Jakarta Stock Exchange Liquid (LQ45) as a representation of the conventional market.…”

Section: Introductionmentioning

confidence: 99%

Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange

et al. 2021

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This Research is about comparison between sharia companies and non-sharia companies in the stock market. Several previous studies have shown that in the stock market, the stock performance of sharia companies is better to that of non-sharia companies. Then this research increases the qualification of the companies to become companies that have implemented green innovation technology. This qualification is applied to companies listed in the Sri-Kehati index on the Indonesia Stock Exchange. Through bivariate and multivariate analysis, the results showed that the stock performance of non-sharia companies was better than those of sharia companies. Bivariate analysis show that the positive gradient of non-sharia trendline (168.37) is bigger than sharia trendline (11.633). The coefficient of determination between non-sharia stocks and Sri-Kehati index (86.41%) is bigger than between sharia stocks and Sri-Kehati index (26.46%). Multivariate analysis obtained a multiple linear regression equation of 1 2 yˆ =117.187 + 0.0081x1 + 0.014397 x2. This equation shows that the variable coefficient of the value of sharia stocks is smaller than the coefficient of the variable value of non-sharia stocks. These facts are based on research on Sri-Kehati index data from 2016 to 2019. The results of this study indicate that investors prefer to invest in shares in non-sharia companies than in sharia companies. The results also indicate that increasing the qualifications of a sharia company to become a company that applies green innovation technology will not necessarily increase its share value. Is upgrading the qualification of a sharia company to a sharia company that applies green innovation technology a mistake? Meanwhile, Indonesia is a country with the largest Muslim population in the world.

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Strong Correlations of Sharia Market To Conventional Market: Evidence From Indonesia Stock Exchange

Cited by 2 publications

References 0 publications

Comparative Analysis of Conventional and Sharia Food and Beverages Company’s Stocks Performance Companies Towards IHSG

Comparative Analysis of Conventional and Sharia Food and Beverages Company’s Stocks Performance Companies Towards IHSG

Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange

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