Abstract
Based on the background and problem formulation, the objective is to test, analyze and prove that asset structure, capital structure, macroeconomic, financial risk management, and profitability performance affect the firm value of companies listed in JII. Researchers determine the type of quantitative research. Descriptive data analysis technique, is a technique used to analyze data by describing or describing the data that has been collected. The data used by researchers is secondary data, the data in this study were obtained from the IDX website (Indonesian Stock Exchange). So the population used in this study found 16 companies. Jakarta Islamic Index. The results of the study 1) there is no influence of asset structure on financial risk management, 2) there is an influence of asset structure on profitability performance, 3) there is an influence of asset structure on the value of the firm, 4) there is an influence of capital structure on financial risk management, 5) there is the effect of capital structure on profitability performance, 6) there is no effect of capital structure on the value of the firm, 7) there is a macroeconomic influence on financial risk management, 8) there is a macroeconomic effect on profitability performance, 9) there is a macroeconomic influence on the value of the firm, 10) there is the influence of financial risk management on the profitability performance, 11) there is the influence of financial risk management on the value of the firm, 12) there is the influence of profitability performance on the value of the firm.
Highlights
Based on the background and problem formulation, the objective is to test, analyze and prove that asset structure, capital structure, macroeconomic, financial risk management, and profitability performance affect the firm value of companies listed in Jakarta Islamic Index (JII)
The development of the Indonesian sharia capital market began with the issuance of sharia mutual funds in 1997 and was followed by the issuance of the Jakarta Islamic Index (JII) in 2000 and the issuance of sharia mudharabah bonds
The value of sharia shares outstanding is each below 5% compared to the total shares in circulation, As in table 1.1 quantitatively, the number of sharia shares is still small compared to conventional, Until 2018 in August, it was 2,063,421.17 (Rp billion)
Summary
The development of the Indonesian sharia capital market began with the issuance of sharia mutual funds in 1997 and was followed by the issuance of the Jakarta Islamic Index (JII) in 2000 and the issuance of sharia mudharabah bonds. Sharia investment instruments in the capital market continue to grow with the presence of Sharia Bonds. On April 18, 2001, for the first time the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) issued a fatwa directly related to the capital market, namely Fatwa Number 20/DSN-MUI/IV/2001 concerning Guidelines for Implementing Investments for Sharia Mutual Funds. This instrument is the first Syari'ah Bond and the contract used is the mudharabah contract
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