The Islamic<i>Shariah</i>principles for investment in stock market

Alam, Md. Mahmudul; Akbar, Chowdhury Shahed; Shahriar, Shawon Muhammad; Elahi, Mohammad Monzur

doi:10.1108/qrfm-09-2016-0029

Cited by 47 publications

(37 citation statements)

References 17 publications

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“…However, it must also be understood that these rules require Shari'a's implementation to the maximum extent possible. If it is related to the regulation of restrictions on riba-based transactions in the halal industry, the less interest-based debt and non-halal income levels the company has, it can be said that the company is getting better at applying the Islamic aspect in its activities (Alam, Akbar, Shahriar, & Elahi, 2017;Ayedh, Shaharuddin, & Kamaruddin, 2019;Md. Hashim, Habib, Isaacs, & Gadhoum, 2017).…”

Section: Resultsmentioning

confidence: 99%

Factors Affecting Islamic Social Reporting in the Halal Industry Sector

Budiandru¹

2021

TURCOMAT

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Islamic social reporting is a measure of Islamic-based social performance reporting in each company. Increased disclosure of Islamic social interpretation will influence investor decisions. This study aims to analyze what factors influence the declaration of Islamic corporate social responsibility. The data used is the annual report of companies registered in the halal industry sector from 2013 to 2018 with 44 selected companies. This study uses a random effect model (REM). The analysis results show that the halal lifestyle, profitability, and leverage are significant in disclosing Islamic corporate social responsibility. Implementation of ISR disclosure as a form of accountability is based on principles and philosophies following Islamic Sharia. Therefore, companies must improve their financial performance to enhance corporate social responsibility disclosure quality, which is very important for stakeholders in investing.

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Section: Resultsmentioning

confidence: 99%

Factors Affecting Islamic Social Reporting in the Halal Industry Sector

Budiandru¹

2021

TURCOMAT

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“…All the advantages contained in the GRI Index still have disadvantages, in the sense that it is not suitable for companies that are unique, such as Islamic-based companies. This discrepancy is considered natural because GRI is an organization dominated by westerners, resulting in standards that are more in line with conventional companies (Alam et al, 2017).…”

Section: Islamic Social Reporting Indexmentioning

confidence: 99%

How is using of the Indonesian Banking Environmental Disclosure with GRI?

Amelia

Wicaksana

Zulvina

et al. 2021

JPEB

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This study aims to determine how the differences in environmental disclosure in conventional banking with Islamic banking using the GRI index. This study found that conventional banking has a higher environmental disclosure than Islamic banking. In addition, the results of this study state that the disclosure of the Islamic banking environment is more representative when using the ISR index when compared to the GRI index. The data used are in the form of annual reports and sustainability reporting of conventional banking companies and Islamic banking listed on the Indonesia Stock Exchange in 2019. The data analysis technique used in this study is content analysis and statistical tests to confirm the results. Keywords: environmental disclosure, GRI index, ISR index, Indonesian Banking

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“…The stock market concept was first introduced in France in the 13th Century. Islamic concept of mudrabah has similarities with the concept of modern stock in a number of ways that were introduced in the Age of the Prophet Muhammad (SAW) in the Sixth Century (Alam et al, 2017;Osmani & Abdullah, 2009; Al- Barwari, 2002) Shariah stock market in Indonesia began to be known by public in 2002 with the name of Jakarta Islamic Index (JII). Stock investment in Indonesia is relatively not promising given the trend of investment development that is experiencing fluctuations.…”

Section: Introductionmentioning

confidence: 99%

Changes in Macroeconomic conditions and capital Return in Indonesia

Selvi

Adam

Suhel

2020

Mod. innov. razvit.

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Purpose: this study aims to examine the influence of changes in inflation, changes in the rupiah exchange rate, changes in the money supply, changes in SBIS, changes in foreign exchange reserves and changes in interest rates on the return of Indonesian Islamic stocks.Methods: this study is focused on looking at conditions of macroeconomic changes that have an impact on the activity of the Islamic capital market, particularly on the return of Islamic stocks listed in the Jakarta Islamic Index. This empirical evidence is related to variable macroeconomic changes, namely changes in inflation, rupiah exchange rate, money supply, foreign exchange reserves, Indonesian Syariah Bank Certificates (SBIS) and interest rates on sharia stock returns for the period January 2014 – December 2019 obtained from Financial publications. Service Authority (OJK) and Bank Indonesia. The analysis technique used is quantitative analysis using multiple regression analysis tools.Results: the results of this study are (1) Variable Changes in Inflation, Changes in the Amount of Money Supply, Changes in Foreign Exchange Reserves, Changes in SBIS have a positive and significant effect on Stock Returns listed on the Jakarta Islamic Index, (2) changes in exchange rates have a negative and significant effect on Stock Returns listed in Jakarta Islamic. Index, (3) the Interest Rate variable has no effect on Stock Returns listed on the Jakarta Islamic Index.Conclusions and Relevance: the approach used by each variable starts with the conventional followed by the study of Islamic macroeconomics, in order to provide a philosophy of science and economics that refers to Baqir Sadr in the Iqtishaduna book. In this study, researchers examined macroeconomic variables on sharia stock returns to prioritize people's welfare and pay close attention to every investment process based on sharia principles. Therefore the public, entrepreneurs, investors and company performance must pay attention to information regarding changes in inflation, changes in the rupiah exchange rate, changes in the money supply, changes in Bank Indonesia Sharia Certificates (SBIS), changes foreign exchange reserves, and changes in interest rates in order to minimize risks for both investors and entrepreneurs. This variable can affect the movement of the capital market so that the return on Islamic stocks also has an effect.

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The IslamicShariahprinciples for investment in stock market

Cited by 47 publications

References 17 publications

Factors Affecting Islamic Social Reporting in the Halal Industry Sector

Factors Affecting Islamic Social Reporting in the Halal Industry Sector

How is using of the Indonesian Banking Environmental Disclosure with GRI?

Changes in Macroeconomic conditions and capital Return in Indonesia

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