scholarly journals Impact of Macroeconomic Variabel and Global Indices on Islamic Stock Index: The Case Indonesia

2020 ◽  
Vol 4 (1) ◽  
pp. 45
Author(s):  
Muhammad Sanusi ◽  
Jihad Jihad ◽  
Imron Mawardi
Keyword(s):  
Interest Rates ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Stock Index ◽  
Quantitative Methodology ◽  
Stock Indices ◽  
Negative Effect ◽  
Positive Effect ◽  
Global Stock

Introduction to The Problem: The movement of the Islamic stock index can be influenced by changes in domestic macroeconomic conditions, not only domestic macroeconomics but also influenced by the stock markets of other countries.Purpose/Objective Study: The main objective of this study is to analyze the influence of the domestic macroeconomic and global stock indices on the Indonesian sharia stock index.Design/Methodology/Approach: This study uses a quantitative methodology with secondary data. The data sample method is saturated sample that all members of the population are used to be the research sample. The type of research data is monthly time series with a time period from May 2011 - July 2019, the selection of the Vactor Error Correction Model (VECM) research method based on the stationarity of the data on the first difference and the existence of cointegration models.Findings: The results showed in the short term all variables did not show a significant effect. In the long run, interest rates have a negative effect, while the exchange rate shows a positive effect on the movement of Islamic stock price indexes. Global stock indices such as the Shanghai Stock Exchange Index show a negative effect, and the Standard & Poor's 500 index shows a positive effect. While the Nikkei 225 index did not show a significant effect on the Indonesian Islamic stock index.

scholarly journals PENGARUH LIKUIDITAS, SOLVABILITAS, PROFITABILITAS, RASIO PASAR, DAN UKURAN PERUSAHAAN TERHADAP HARGA SAHAM (Studi Pada Perusahaan Subsektor Perkebunan yang Terdaftar Di Bursa Efek Indonesia Tahun 2010-2014)

2017 ◽  
Vol 4 (3) ◽  
Author(s):  
Nita Fitriani Arifin ◽  
Silviana Agustami
Keyword(s):  
Firm Size ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statement ◽  
Coefficient Of Determination ◽  
Regression Test ◽  
Negative Effect ◽  
Independent Variable ◽  
Positive Effect

This study is aim to determine the effect of liquidity, solvability, profitability, market ratio, and firm size toward stock prize at plantation subsector companies which are listed in Indonesia Stock Exchange.This study use assosiative method with causal relationship because this study intends to determine whether there is influence between the dependent and independent variables. This study uses the variable liquidity, solvability, profitability, market ratio, and firm size as the independent variable and stock price as the dependent variable. This study use plantation subsector companies that registered at Indonesia Stock Exchange in 2010-2014 as a population. After undergo the purposive sampling process, six sample companies are selected. This study use secondary data in annual financial statement. This study use the analysis multiple linear regression then performed to test the coefficient of determination measures the percentage of the amount of influence between variables and to test the hypothesis using the F test and t test. Before doing a regression test, there is the classical assumption test.The results of this study indicate that simultaneously liquidity, solvability, profitability, market ratio, and firm size give a significant effect toward stock price. Partially, liquidity and solvability have a negative effect toward stock price, while profitability, market ratio, and firm size have a positive effect toward stock price.

scholarly journals Analysis of Global Stock Exchange Index, Foreign Exchange Rate, Interest Rate and Inflation Rate Influences CSPI in Indonesia Stock Exchange (Period of January 2014 – 2015)

2019 ◽  
Vol 4 (6) ◽  
Author(s):  
Dahlia Br. Pinem
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Developed Countries ◽  
Stock Index ◽  
Stock Price Index ◽  
Global Stock

The economics of one country with other countries are interconnected because of the business relationship, especially since the developed countries greatly affect the economics of developing countries, so that the stock market in developed countries such as Dow Jones (DJIA) index, Footsie London Index (FTSE), Singapore Index (STI), Tokyo Nikkei Index (N225), Korea KOSPI Index (KS11), Hang Seng Hongkong Index (HSI) affect the Composite Stock Price Index (CSPI). The purpose of this study is to determine the influence of global stock indices on the Composite Stock Price Index (CSPI). In addition to the global macroeconomics index of Indonesia's Stock Index like the US Dollar against the rupiah, interest rates greatly affect the Composite Stock Price Index. The method of the sample research was conducted by judgment sampling. Hypothesis testing in this research is conducted by Multiple Regression. The results obtained simultaneously (F test) variables (FTSE, Dow Jones index, STI, KS 11, Hangseng, Nikkei 225, Dollar/USD exchange rate, interest rate, Inflation) have a significant effect on CSPI. Yet, only partially variable interest rate is not significant, while the other partially affects the CSPI.

scholarly journals Faktor Makro Ekonomi Yang Mempengaruhi Pergerakan Harga Saham Pada Indeks Saham Syariah Indonesia (ISSI) di Bursa Efek Indonesia (BEI)

2015 ◽  
Vol 2 (11) ◽  
pp. 928
Author(s):  
Martien Rachmawati ◽  
Nisful Laila
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Time Series Data ◽  
Stock Exchange ◽  
Stock Index ◽  
Series Data ◽  
Regression Result ◽  
Statistical Tool ◽  
Negative Effect

The capital market presence is such an important concern for many country because it relate to its function as economic booster through investation. This study aims to analyze macro economic factors that can affect the movement of stock price at Indonesia Sharia Stock Index in Indonesia Stock Exchange as the inflation factor, SBI interest rates and exchange rates. The method used in this research is quantitative approaches in which data is obtained from Indonesia Stock Exchange and Bank of Indonesia. The data used is the time series data starting from January 2012 to April 2015. The statistical tool used is multiple linear regression. Result showed that partially inflation is not significant and have a negative relation toward ISSI’s stock price, SBI interest rate is not significant and have a positive relation toward ISSI’s stock price, exchange rate significantly influence the stock price at Indonesia Sharia Stock Index (ISSI) and have a negative effect. Simultaneously, both variable inflation rate, SBIinterest rate and the exchange rate significantly influence the stock price’s movement at Indonesia Sharia Stock Index (ISSI).

scholarly journals Pengaruh Suku Bunga Kredit dan Risiko Kredit terhadap Return On Asset dengan Pendapatan Bunga sebagai Variabel Intervening

2021 ◽  
Vol 10 (2) ◽  
pp. 147-160
Author(s):  
Sely Megawati Wahyudi ◽  
Nona Lice Pota Buga
Keyword(s):  
Credit Risk ◽  
Interest Rates ◽  
Stock Exchange ◽  
Secondary Data ◽  
Return On Assets ◽  
Interest Income ◽  
Negative Effect ◽  
Lending Rates ◽  
Indirect Relationship ◽  
Positive Effect

This study was conducted to examine the effect of lending rates, net performance loans, interest income on return on asset (ROA). The population in this study is a finance company listed on the Stock Exchange in 2015-2019. The sample was determined by a porposive sampling method – 65 samples. The data used are secondary data obtained from the IDX gallery.  The hypothesis in this study was tested using path analysis to determine the direct and indirect effects of the independent variables used on the dependent variable. The results of this study indicate that partially lending rates have a significant influence on interest income, while credit risk which is proxied by Net Performance Loan (NPL) has no significant effect on Interest Income. Credit Interest Rates do not have an effect on Return On Assets (ROA), while Credit Risk which is proxied by Net Performance Loan (NPL) has a significant negative effect on Return On Assets (ROA) and Interest Income has a significant positive effect on Return On Asset (ROA). The indirect relationship between lending rates and credit risk with Return On Assets (ROA) by using interest income as an intervening get significant results.

scholarly journals EFFECT OF EXCHANGE RATE AND GLOBAL INDEX IN FIVE COUNTRIES AGAINST CSPI

2020 ◽  
Vol 1 (1) ◽  
pp. 44-58
Author(s):  
Mulyadi Mulyadi
Keyword(s):  
Exchange Rate ◽  
Data Analysis ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Secondary Data ◽  
Global Index ◽  
Negative Effect ◽  
Positive Effect ◽  
Variable Exchange

This study aimed to determine the correlation between Exchange Rate and Global Index on Composite Stock Price Index in Indonesia Stock Exchange in 2014-2019 partially and simultaneously. Exchange Rate and Global Index is proxied by five countries namely Hong Kong, Japan, USA, Singapore, and China. The data used is secondary data obtained through the Official Website of Bank Indonesia for variable Exchange Rate, Official Website Yahoo Finance and Official Website Investing.com for variable Global Index. The methods of data analysis used is multiple linear regression. The results showed that the HKD, JPY, USD, SGD, CNY, and STI partially insignificant on CSPI, as well as HSI and DJIA partially positive effect significant on CSPI, while N225 and SSEC partially negative effect significant on CSPI. Simultaneously, all the variables have a significant effect by influencing by 93.9% while the remaining 6.1% is explained by other variables not examined in this study.

APAKAH FAKTOR EKSTERNAL MEMPREDIKSI UNDERPRICING LEBIH BAIK DIBANDINGKAN FAKTOR INTERNAL? STUDI INITIAL PUBLIK OFFERING DI BEI TAHUN 2009-2017

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Saefudin Saefudin ◽  
Tri Gunarsih
Keyword(s):  
Interest Rates ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Secondary Market ◽  
Company Size ◽  
Negative Effect ◽  
Underwriter Reputation ◽  
Public Offering

Underpricing is a phenomenon that still occurs in the Indonesian capital market, where the offering price of shares in the primary market is lower than the opening price or closing price on the first day on the secondary market. This study aims to examine the effect of Return On Assets (ROA), Debt to Equity Ratio (DER), company size, underwriter reputation, age, and interest rates on the underpricing of shares in companies’s Initial Public Offering (IPO) listing on the Indonesia Stock Exchange (BEI) in 2009 to 2017. The population in this study are companies that conduct IPOs on the BEI period 2009 to 2017. The sample selection in this study uses a purposive sampling method, based on certain criteria. The sample in this study were 183 underpricing companies from 205 companies conducting IPO in the period 2009 to 2017. The data used in this study used secondary data. The multiple regression analysis was implemented in this study. The results showed that DER, company size, and underwriter reputation did not significantly influence underpricing. While ROA, age and interest rates have a significant negative effect on underpricing. In this study, investors consider ROA, age, interest rates compared to DER, company size, and the reputation of the underwriter to invest in companies that make an IPO.Keywords: Underpricing, Initial Public Offering, and Indonesian Stock Exchange.

scholarly journals TATA KELOLA, KOMPENSASI CEO, KARAKTERISTIK CEO, ACCOUNTING IRREGULARITIES DAN TAX AGGRESSIVENESS

2019 ◽  
Vol 6 (2) ◽  
pp. 285
Author(s):  
Ririn Juliawaty ◽  
Christina Dwi Astuti
Keyword(s):  
Corporate Governance ◽  
Ceo Compensation ◽  
Stock Exchange ◽  
Secondary Data ◽  
Analysis Model ◽  
Tax Aggressiveness ◽  
Ceo Tenure ◽  
Negative Effect ◽  
Independent Variable ◽  
Positive Effect

<p><em>The purpose of this research is</em><em> </em><em>to examine the effect of corporate governance, CEO characteristic, CEO compensation, and accounting irregularities on tax aggressiveness. The dependent variable in this research is tax aggressiveness, while the independent variable in this research are corporate governance, characteristic CEO and CEO compensation</em><em>.</em></p><p><em>This study used secondary data with entire population manufacture companies listed at the Indonesia Stock Exchange (BEI) for 2015 -2017. The research sample are consists of 37 companies. The sampling method used to determine the sample is purposive sampling. The analysis model used in this research is multiple regression of panel data.</em><em></em></p><p><em>Based on analytical results concluded that independent director have a significant and negative effect on tax aggressiveness while accounting irregularities has a significant and positive effect on tax aggressiveness. The board size, CEO compensation, age, and CEO tenure have no significant effect on tax aggressiveness. </em></p>

Analisis Pengaruh Inflasi, Nilai Tukar Rupiah, dan BI-Rate terhadap Harga Indeks Saham Syariah Indonesia

2021 ◽  
Vol 4 (2) ◽  
pp. 47-56
Author(s):  
Fifi Afiyanti Tripuspitorini
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Partial Least Square ◽  
Least Square ◽  
Stock Index ◽  
Macroeconomic Factors ◽  
Negative Effect ◽  
Monthly Period

Islamic investment is experiencing an upward trend from year to year. Many investors are starting to look at Islamic stocks. One of the Islamic stocks in Indonesia is the Indonesian Sharia Stock Index (ISSI). Investors must have many careful considerations to invest. One of the factors that may influence stock prices is macroeconomic factors. This study aims to determine how macroeconomic variables in the form of inflation, the rupiah exchange rate against the dollar, and Bank Indonesia interest rates can affect the ISSI stock price. This study uses a quantitative data approach. The data is obtained from the Sharia Stock Index (ISSI) in the monthly period January 2016 to December 2018.Meanwhile, data analysis used Partial Least Square (PLS) with the help of WarpPLS. The results showed that inflation and the rupiah exchange rate had no effect on the ISSI stock price. while the BI rate has a significant negative effect on the ISSI stock price.

scholarly journals PENGARUH PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN, DAN LEVERAGE TERHADAP PROFITABILITAS PADA PERUSAHAAN FOOD AND BEVERAGE BEI

2018 ◽  
Vol 7 (11) ◽  
pp. 6239
Author(s):  
I Ketut Alit Sukadana ◽  
Nyoman Triaryati
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Analytical Techniques ◽  
Linear Regression Method ◽  
Company Size ◽  
Sales Growth ◽  
Food And Beverage ◽  
Negative Effect ◽  
Corporate Profits ◽  
Positive Effect

Profit or corporate profits needed for the life of the company to gain profit. The purpose of this study is to determine the effect of sales growth, leverage, and company size on profitability. This research was conducted at Food and Beverage Company in Indonesia Stock Exchange period 2012-2016. Number of population as many as 16 companies, sample in this research as many as 11 companies with purposive sampling method. Data collection is done through secondary data. Analytical techniques conducted in this study using multiple linear regression method using independent variables of sales growth, leverage, and company size. Based on the results of the analysis found that the variable of sales growth, leverage, and company size simultaneously have a significant effect on profitability. This shows the increasing value of sales growth and size of the company and the declining value of leverage then profitability will increase. Partial sales growth has a significant positive effect on profitability. Partial leverage has a significant negative effect on profitability. The size of the company partially positively insignificant to profitability.

scholarly journals The Effect of Macro Economic Variables on Stock Return of Companies That Listed in Stock Exchange: Empirical Evidence from Indonesia

2019 ◽  
Vol 14 (8) ◽  
pp. 108
Author(s):  
Aminullah Assagaf ◽  
Etty Murwaningsari ◽  
Juniati Gunawan ◽  
Sekar Mayangsari
Keyword(s):  
Interest Rates ◽  
Stock Returns ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Secondary Data ◽  
Foreign Exchange Rates ◽  
Macroeconomic Variables ◽  
Analysis Technique ◽  
Inflation Rates

This study aims to analysis the effect of macroeconomic variables on the overall return of company shares which is a proxy with changes in the composite stock price index. This study uses secondary data in a period of 20 months from November 2016 to June 2018. While the analysis technique uses multiple linear regression This study found that macroeconomic variables consisting of inflation rates, interest rates, money supply, and foreign exchange rates, stock returns have a significant effect on companies on the Indonesia Stock Exchange.

Sign in / Sign up

Export Citation Format

Share Document