The Effect of Macroeconomic Variables on Sharia Stock Prices in the Jakarta Islamic Index

DOI

10.2991/assehr.k.200225.068How to use a DOI?

Keywords

Jakarta islamic index, macroeconomic, islamic investment

Abstract

The capital market has a very important role in the current global economy as a place to raise funds and as an attractive investment media for investors. At present, the capital market will be an indicator of a country’s economic stability. However, volatile and unpredictable stock prices are one of the obstacles faced by the investors so that the capital market is one type of risky investment. The Jakarta Islamic Index (JII) is one of the shares on the Indonesia Stock Exchange (IDX) which is based on sharia principles. This index was introduced on July 3, 2000 by the Indonesia Stock Exchange. The methodology of JII calculation is the same as that used by the JCI which is based on the Market Value Weight Average Index using the Lapeyres formula. The results show that the inflation variable, IPI and the rupiah exchange rate have a significant influence on Islamic stock prices in JII. So these factors can be a consideration for investors in buying shares listed on JII.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Didi Mashudi
AU  - Mohamad Andri Ibrahim
AU  - Fadilah Ilahi
PY  - 2020
DA  - 2020/03/03
TI  - The Effect of Macroeconomic Variables on Sharia Stock Prices in the Jakarta Islamic Index
BT  - Proceedings of the 2nd Social and Humaniora Research Symposium (SoRes 2019)
PB  - Atlantis Press
SP  - 324
EP  - 327
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200225.068
DO  - 10.2991/assehr.k.200225.068
ID  - Mashudi2020
ER  -