The Effect of Inflation Rate, Exchange Rate, The Certificate of Bank Indonesia (SBI) Interest Rate and Sharia Stock Trading Volume on Sharia Stock Performance in Companies Listed on the Indonesian Sharia Stock Index (ISSI)

Bassar, Teddy Sumirat; Effendi, Nury; Hidayat, Achmad Kemal; Budiono, Budiono

doi:10.18415/ijmmu.v8i3.2494

Cited by 7 publications

(11 citation statements)

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“…According to the IRF analysis, an increase in SBIS has a positive effect on economic performance. This research contradicts to the findings of Asnuri (2013), Bassar et al (2021) and Wibowo and Mubarok (2017). In a nutshell, it can be said that the increase in SBIS used by the monetary authority is effective in increasing the economic performance.…”

Section: ~352~contrasting

confidence: 74%

“…Studies conducted by Ascarya (2012), Bassar et al (2021), and Madani and Widiastuti (2021) show that SBIS has a positive impact on the economic performance, while research by Wibowo and Mubarok (2017) shows the opposite result. In terms of IIMM instrument, a study conducted by Setiawan and Karsinah (2016) showed a positive relationship on the performance of economic, while the research of Zaelina (2018) showed a negative correlation.…”

Section: ~339~mentioning

confidence: 99%

“…As presented in hypothesis 1, changes in the rate of profit sharing for SBIS will affect the behavior of Islamic banking (Bahrul et al, 2018;Bassar et al, 2021). From the view of real sector, the higher the profit sharing rate determined by the monetary Indonesia.…”

Section: H3: Financing Has a Significant Effect On Inflationmentioning

confidence: 99%

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Effectiveness of Islamic Monetary Policy Transmission on Inflation and Economic Performance

Bawono

Laksana

Nabila

et al. 2021

Shirkah

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The most crucial part for the economic development of a country is maintaining the stability of inflation to create a positive climate for economic and business activities. A number of efforts can be performed to achieve stable inflation and increase economic growth by designing monetary policy incorporating the variables of Bank Indonesia Sharia Certificate (SBIS), Islamic Interbank Money Market (IIMM), and Financing. Drawing on this issue, the in-hand study aims to examine the effectiveness of Islamic monetary policy transmission, using the instruments of SBIS, IIMM, and Financing, on inflation and economic performance (GDP) from the period of January 2011 to December 2020. Using secondary data, this study employs VAR/VECM approach by the assistance of Eviews program. The results reveal that in the short term period, inflation is significantly influenced by the IIMM, while GDP t is affected by the GDP t-1 and financing activities. In the long term period, both inflation and GDP are determined by SBIS and financing activities. In general, this study results in a conclusion that the variables of IIMM, financing activities, and GDP t-1 influence the economic performance both in short and long term periods. These results contribute as fruitful insights to developing financial strategies and monetary policy to maintain stable inflation and improve economic performance of a country.

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Section: ~352~contrasting

confidence: 74%

Section: ~339~mentioning

confidence: 99%

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Effectiveness of Islamic Monetary Policy Transmission on Inflation and Economic Performance

Bawono

Laksana

Nabila

et al. 2021

Shirkah

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“…Other studies also show that only the GDP has a significant effect on the stock price index of the plantation sector, and variables such as interest rates, inflation rates, and the Rupiah exchange rate against the Dollar do not have a significant effect on the stock price index of the plantation sector (Safitri & Kumar, 2014). Recent literature on the impact of macroeconomics on the stock market in Indonesia can also be tracked through research by Augustpaosa Nariman (2019), Bassar et al (2021), Lusiana (2020), and Maharditya et al (2018 However, specific studies on the relationship between macroeconomic variables and banking stocks in Indonesia are limited. One of the studies in the Indonesian banking issuers through the monthly price index for the period 2010-2015 show that inflation and exchange rates positively affect the stock price index while interest rates negatively affect it.…”

Section: Public Interest Statementmentioning

confidence: 99%

Banking stock price movement and macroeconomic indicators: k-means clustering approach

Zuhroh

Rofik

Echchabi

2021

Cogent Business & Management

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This study investigates the price movement characteristics of banking issuers listed on the Indonesia Stock Exchange with macroeconomic indicators as an exogenous variable. By using the k-means clustering based on the monthly rate of return, banks are classified into three clusters, lower, middle, and upper clusters, with a cluster rank directly proportional to the average rate of return. Furthermore, each cluster formed is estimated using dynamic panel data regression with the generalized method of moment. This study shows that the price of banking issuers in the middle cluster is more reactive in dealing with interest rates and exchange rates. At the same time, the highest inflation coefficient exists in the upper cluster. The higher beta coefficient creates abnormal returns that allow for higher gains and line with the risk level. Meanwhile, the price effect in the previous period proved to be in line with the cluster level, indicating that higher clusters are more resilient. Therefore, referring to the possibility of abnormal returns and resilience to uncertainty, this study concludes that issuers in the middle cluster are more suitable for a short-term investment, while issuers in the upper cluster are for the long-term.

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“…Umaryadi et al (2021) documented a positive but insignificant relationship between inflation and stock returns. Bassar et al (2021) failed to find any significant effects of inflation on Shariah stock returns, thus suggesting that Shariah stocks can be considered a viable hedging instrument in times of high inflation. Asiedu et al (2021) indicate that inflation has a negative effect on the overall stock market performance in the long run.…”

Section: Introductionmentioning

confidence: 99%

Stock Returns and Inflation: a Bibliometric Analysis

Hoong¹,

Tan²,

Hassan³

et al. 2023

J. Professional Business Review

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Purpose: The challenging economic climate and increasing inflationary pressures have made it necessary to re-evaluate inflation research and its impact on the stock market. The purpose of this study is to use bibliometric analysis to review scholarly writing on stock returns and inflation from 1975 to 2022. Design/methodology/approach: This study analyses bibliometric markers such as the number of citations, authors, journals, and institutions using the Web of Science database to discover publishing patterns and illustrate commonalities. Findings: The study indicates that the volatility domain has gained more attention, therefore there is a necessity for future research to model predictive accuracy to match the rising volatility and uncertainty environment. Due to the expanding energy theme from bibliographic coupling analysis and the oil-related macroeconomic factors cluster from author keyword co-occurrence analysis, the study revealed a research gap that underlines the need for a green and sustainable stock market. Research, Practical & Social implications: The study suggests a need for future research to increase academic collaboration and to contribute toward the development of theoretical and empirical literature. Originality/value: The results revealed that it is vital to revise the current theory to integrate theoretical implications in light of the volatile market conditions and rising inflation rate.

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The Effect of Inflation Rate, Exchange Rate, The Certificate of Bank Indonesia (SBI) Interest Rate and Sharia Stock Trading Volume on Sharia Stock Performance in Companies Listed on the Indonesian Sharia Stock Index (ISSI)

Cited by 7 publications

References 0 publications

Effectiveness of Islamic Monetary Policy Transmission on Inflation and Economic Performance

Effectiveness of Islamic Monetary Policy Transmission on Inflation and Economic Performance

Banking stock price movement and macroeconomic indicators: k-means clustering approach

Stock Returns and Inflation: a Bibliometric Analysis

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