ANALYSIS OF FACTORS AFFECTING THE INDONESIAN SYARIAH STOCK INDEX (ISSI) ON THE INDONESIAN STOCK EXCHANGE (IDX)

The Indonesian Syariah Stock Index (ISSI) is an indicator that can be used by investors to know the movements of the sharia stock market. This research aims to analyze the effect of the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX). The analysis uses equations by the method of Error Correction Model (ECM). This study analyzed the relationship between the dependent and independent variables in both the short term and long term. Estimation results show that in the long term and the short term, the variable amount of the inflation was a positif and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). The variable amount of the BI rate and exchange rate was a negative and significant in the short term but not significant in the long term affect the Indonesian Syariah Stock Index (ISSI). These results show that inflation, BI rate and exchange rate was significant in the short term affect the Indonesian Syariah Stock Index (ISSI) on the Indonesian Stock Exchange (IDX).

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VARIABEL MAKROEKONOMI TERHADAP INDEKS SAHAM SYARIAH INDONESIA (PERIODE MEI 2011-SEPTEMBER 2015 DENGAN MODEL ECM)

Media Trend ◽

10.21107/mediatrend.v11i2.1441 ◽

2016 ◽

Vol 11 (2) ◽

pp. 117

Author(s):

Yudhistira Ardana

Keyword(s):

Exchange Rate ◽

Secondary Data ◽

Oil Prices ◽

Model Error ◽

Stock Index ◽

Short Term ◽

Correction Model ◽

Macroeconomic Variables ◽

The Interest Rate

<em>This study aimed to analyze the effect of macroeconomic variables on Indonesian Islamic stock index. Macroeconomic variables used is the interest rate of Bank Indonesia (BI-rate), inflation, exchange rate, Bank Indonesia Certificates Sharia (SBIS) and world oil prices. The data used in this research is secondary data during the period May 2011 until September 2015 using a model error correction model (ECM) where the end result is going to measure the effect of macroeconomic variables on Indonesian Sharia Stock Index in the short term and long term.</em>

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Real exchange rate and trade balance of Pakistan: an empirical analysis

Jinnah Business Review ◽

10.53369/otup9269 ◽

2013 ◽

Vol 01 (01) ◽

pp. 44-51

Author(s):

Muhammad Bilal Saeed ◽

Ijaz Hussain

Keyword(s):

Exchange Rate ◽

Real Exchange Rate ◽

Trade Balance ◽

Short Term ◽

Correction Model ◽

J Curve ◽

Short Run ◽

The Relationship ◽

Balance Error

This study evaluates the relationship between real exchange rate and trade balance prevailed in Pakistan during the 1985-2010 period. Engel Granger residual based and Johansen Juselius tests have been used to inquire into the long term connection between exchange rate and trade balance. Error correction model is then employed to study the short term connection. It has been discovered that there exists a connection between real exchange rate and trade balance in long as well as short run. The evidences set forth lead to a decisive conclusion that Marshall Lerner Condition and J curve effect both hold in case of Pakistan.

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DETERMINAN INDEKS SAHAM SYARIAH INDONESIA

Islamic Banking : Jurnal Pemikiran dan Pengembangan Perbankan Syariah ◽

10.36908/isbank.v7i1.309 ◽

2021 ◽

Vol 7 (1) ◽

pp. 179-194

Author(s):

Ayif Fathurrahman ◽

Rahma Aprilia Widiastuti

Keyword(s):

Exchange Rate ◽

Exchange Rates ◽

Error Correction ◽

Error Correction Model ◽

Stock Index ◽

Short Term ◽

Correction Model ◽

Significant Negative Effect ◽

Negative Effect

This study was conducted to determine and analyze the effect of inflation, exchange rates, and the BI Rate on the Indonesian Sharia Stock Index (ISSI). The method used in this research is the Error Correction Model (ECM). The data used are 55time series. Based on the analysis that has been done, the research results show that in the short term only the BI Rate has a significant negative effect on the Indonesian Sharia Stock Index (ISSI). Meanwhile, in the long term, the Exchange Rate and BI Rate variables have a significant negative effect on the Indonesian Sharia Stock Index (ISSI). Variable inflation has no effect on the Indonesian Sharia Stock Index (ISSI).

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DAMPAK PENERAPAN INDONESIA-JAPAN ECONOMIC PARTNERSHIP AGREEMENT TERHADAP EKSPOR INDONESIA KE JEPANG

Media Ekonomi ◽

10.25105/me.v23i1.3301 ◽

2015 ◽

Vol 23 (1) ◽

pp. 27

Author(s):

Izma Khairanisa Harahap ◽

Astrid Maria Esther

Keyword(s):

Exchange Rate ◽

Error Correction ◽

Significant Influence ◽

Short Term ◽

Correction Model ◽

Economic Partnership Agreement ◽

Economic Partnership ◽

Partnership Agreement ◽

The Relationship

<em>This thesis is discussing about the effect of Indonesia Japan Economic Partnership agreement application for Indonesia's export to Japan in the period from 1991:1 until 2013:4. The variables which used is export, GDP, REER FDI exchange rate between Indonesia and Japan. The method which used in this thesis is Error Correction Model (ECM) model. The purpose of this research is to know about the relationship between export, GDP, REER and FDI also the influence of that variables in short term or long term. In addition, the purpose of this research also to know about how far the influence of Indoesia’s participation in Indonesia Japan Economic Partnership Agreement Indonesia Japan Economic Partnership Agreement. The result from ECM method, obtained that Indonesia's participation in Indonesia Japan Economic Partnership Agreement Indonesia Japan Economic Partnership Agreement doesn't have influence in short term or long term. And Japan's GDP variables that have the most significant influence in Indonesia's export to Japan develop</em>

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Determinasi Faktor Fundamental Makroekonomi dan Indeks Harga Saham Syariah Internasional terhadap Indeks Harga Saham Syariah Indonesia

Cakrawala Jurnal Studi Islam ◽

10.31603/cakrawala.v14i1.2622 ◽

2019 ◽

Vol 14 (1) ◽

pp. 1-15

Author(s):

Yudhistira Ardana ◽

Siska Maya

Keyword(s):

Exchange Rate ◽

Oil Price ◽

Stock Index ◽

Short Term ◽

Correction Model ◽

Macroeconomic Conditions ◽

Market Index ◽

The World ◽

The Impact

The capital market is a source of fresh funds in the long and short-term. The existing of the institution is not only a source of funding but also as an investment facility. This study aims to measure the impact of macroeconomic conditions (BI Rate, Exchange Rate and World Oil Prices) and the international Sharia stock index (Dow Jones Islamic Market Index Japan and Dow Jones Islamic Market Index US) on the Indonesian Sharia Stock Index with using the error correction model (ECM). The results showed that BI rate and DJIM US have the significant effect (5%) on Indonesian Sharia Stock Index in the short, while the exchange rate and DJIM Japan are significant at the 10%, and the world oil price is not significant. In the long-term, BI Rate, exchange rate, DJIM US and DJIM Japan have a significant effect, while the world oil price has not a significant effect.

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Analisis Indeks Harga Konsumen di Indonesia Melalui Pendekatan Kointegrasi

Jurnal REP (Riset Ekonomi Pembangunan) ◽

10.31002/rep.v4i2.1753 ◽

2019 ◽

Vol 4 (2) ◽

pp. 110-118

Author(s):

Muhamad Muin ◽

Keyword(s):

Exchange Rate ◽

Empirical Study ◽

Money Supply ◽

Price Index ◽

Consumer Price Index ◽

Data Series ◽

Short Term ◽

Monthly Data ◽

The Relationship

This study aims to analyze the relationship between the rupiah exchange rate (RER) and the money supply (M1) on the outgrowth of the consumer price index (CPI) in Indonesia. The data used in this study are monthly data series from January 2005 to January 2019. The results of this empirical study shows that there is a relationship between RER and M1 on CPI in the long term and there is a correction in the short term balance (ECM) which is influenced by M1. All of these variables are significant at α = 5% and partly significant at α = 1%.

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ANALISIS HARGA SAHAM INDEX KOMPAS 100 DENGAN PENDEKATAN ERROR CORRECTION MODEL

Jurnal Dinamika Ekonomi Pembangunan ◽

10.33005/jdep.v4i1.201 ◽

2021 ◽

Vol 4 (1) ◽

pp. 406-414

Author(s):

Amir Hamzah

Keyword(s):

Error Correction ◽

Stock Prices ◽

Stock Price ◽

Stock Exchange ◽

Financial Statements ◽

Error Correction Model ◽

Short Term ◽

Correction Model ◽

Positive Effect

The purpose of this research is to analyze the short term and long term relationship between ROI, EPS, PER ,inflation, SBI, exchange rate,and GDP on Stock Price. The data in this research is company financial statements which included Compas 100 Index on the Indonesia Stock Exchange. statistical analysis in this research used stasionarity test, The Classical Assumptions Test, Cointegration Test, Error Correction Model Test. This research found that partially ROI, EPS, PER variables a positive effect on stock prices in the short term and long term, KURS and SBI a positive effect on stock prices in the short term, but there is no effect in the long term, inflation and GDP do not affect the stock price both in the short term and long term. Simultaneously affected the stock prices significantly affect on stock price both in the short term and long term.

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Pengaruh Volume Perdagangan dan Retum terhadap Bid-Ask Spread

Jurnal Riset Manajemen dan Bisnis ◽

10.21460/jrmb.2007.22.194 ◽

2007 ◽

Vol 2 (2) ◽

pp. 89

Author(s):

Nico Yopida ◽

Umi Murtini

Keyword(s):

Stock Exchange ◽

Trade Volume ◽

Informational Asymmetry ◽

Correction Model ◽

Order Processing ◽

Bid Ask Spread ◽

Holding Cost ◽

Inventory Holding ◽

The Relationship

Bid ask spread is afunction of three components which are; order processing, inventory holding, and informational asymmetry. Although holding cost and infurmational asymmetry can not be directly obsertted and needs a specific measurement, these two costs are interesting to be examined. The present paper aims to observe empirical evidences about the relationship between trade and return as a holding cost meaurernent for bid-ask spread. The samples are drawn -fro* companies listed on Jakarta Stock Exchange (JSE and included in rneasurement factors of ILQ-45 fro* January 2004 until December 2004. Using Error Correction Model (ECM), the result shows that the relationship between a trade volume series, return, and bid-ask spread are not either relatively or absolutely having a long-term equilibrium.Keywords : Bid-ask spread, return, statianary, co-integration.

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The Effect of Covid-19, Rupiah Exchange Rate, and Inflation on the Indonesia Sharia Stock Index during the Covid-19 Pandemic

Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) ◽

10.31538/iijse.v4i1.1654 ◽

2021 ◽

Vol 4 (1) ◽

pp. 313-336

Author(s):

Achmad Agus Priyono ◽

Ari Kartiko

Keyword(s):

Exchange Rate ◽

Time Series Data ◽

Negative Impact ◽

Stock Index ◽

Series Data ◽

Stock Market Index ◽

Short Term ◽

The Us ◽

Us Dollar

Purpose of this study is to clarify the effect of the number of daily cases reported to have contracted the Covid-19 virus, the exchange rate of the rupiah against the US dollar and inflation on the movement of the Indonesian Sharia stock index (ISSI) during the Pandemic Covid 19 in the short term and long term. Data analysis methods that used is analysis Error Correction Mechanism (ECM) using Eviews software 10. The data collected is daily time series data starting from March 2, 2020 to May 31, 2021 so that the number of samples collected obtained as many as 283 samples . The results of the study stated that the addition of the daily number of reported cases of contracting the Covid-19 virus has a negative impact on The Indonesian Sharia Stock Market Index (ISSI) during the Covid-19 pandemic, so that encourage the weakening of the Stock Index both in the long and long term short. Likewise, the weakening of the rupiah against the US dollar will caused the fall of the sharia index during the Covid 19 pandemic, both in the long term and long and short term. However, the study found no effect inflation on the Indonesian Sharia Stock Index (ISSI) during the Covid19 pandemic, good long term and short term

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