Abstract
Purpose –This study aims to analyze the effect of inflation, Bank Indonesia Sharia Certificates (BISC), and the Jakarta Islamic Index (JII) on State Sharia Securities (SSS). Methodology/approach – The population used in this study is inflation, Bank Indonesia Sharia Certificates, Jakarta Islamic Index and State Sharia Securities in the 2016-2020 period as many as 60 data with a sampling technique, namely clear sampling of 60 data. This study was analyzed using the Multiple Linear Analysis method.Findings – The results of Multiple Linear Regression Analysis are as follows: Y = 1388.145 – 5.171 X1 + 0.032 X2 – 1.665X3 The study was conducted using time series data for the period 2016 to 2020. The results showed that inflation had a significant negative effect on SSS , BISC has a significant positive effect on SSS, and JII has a significant negative effect on SSS. From the results of the R-square Coefficient of Determination test that Inflation, BISC, and JII have an influence of 55.6% on SSS.Novelty/value – The higher the Bank Indonesia Sharia Certificates (BISC), the higher the State Sharia Securities (SSS). Keywords: Inflation, BISC, Jakarta Islamic Index, SSS
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