Sharia Capital Market Research Articles

The Decision Of The Aceh Community To Invest In Sharia

Society and investors have a valuable role in the sharia capital market. For that, an analysis effort on community decisions is needed. This study analyzes the factors influencing people's decisions through perceptions, motivation, and learning. This research will use the consumer decision-making process model then replication by entering the knowledge variable as a substitute for learning in the model. This research is a type of survey research using a purposive sampling technique with 160 respondents. For data analysis techniques, the sed Structural Equation Modeling (SEM) approach with the help of Amos Version 24.0. The results show; that first, knowledge of sharia investment has a positive relationship with the perception of investing Shariah with a value ratio (CR) of 2.618; secondly, perception is positively related to motivation to invest Sharia, with its critical ratio value (CR) of 5,200; third, the motivation variable is positively related to the decision to invest Sharia, with its critical value (CR) of 2.052; the knowledge of sharia investment products is positively associated with the decision to invest in Sharia, as evidenced by the value of the critical ratio (CR) of 1.977. Fifth, perception has no relation with the decision to invest in Sharia because the value of the critical ratio (CR) of 0,430 is under requirement CR> 1,96, so the alternative hypothesis (HA) is rejected. The results of this study reinforce the importance of efforts to increase public knowledge of sharia investment products and the ins and outs of Sharia.

Asset Valuation to Determine the Company Zakat Amount with Historical Cost and Current Value

This study aims to analyze and compare historical cost and current value as the basis for asset valuation in determining the amount of zakat of a company. This research was conducted at the Makassar Branch of the Indonesia Stock Exchange. The researcher also visited the official website of the Indonesia Stock Exchange (www.idx.co.id) and the official website of the Financial Services Authority for the Sharia Capital Market (www.syariah.ojk.go.id). The research was carried out in approximately 2 months, starting from August 2020 to September 2020. This study uses quantitative data methods. This study using a case study approach. The data source used in this study is secondary data obtained from the company's published financial statements taken from the Indonesia Stock Exchange. The results show that the calculation of corporate zakat is still experiencing difficulties because there are different calculation formats and different elements of financial statements between the current standard format and the fiqh language due to lack of socialization to the company, and almost all calculation methods show more significant results when the assets are valued using current values

The Indonesian Sharia Capital Market in Shock Covid-19: Global Market Interaction

<p><em>Covid-19 has caused problems, including the global Islamic capital market. The rapid and extraordinary development of Covid-19 has rocked sharia investment in Indonesia. This study looks at the interaction of the global Islamic stock market with the Indonesian Islamic stock market, namely the Jakarta Islamic Index (JII), in the Covid-19 shock. Data is collected from within the global Islamic capital market sourced from the Dow Jones Islamic Market World Index, and the Indonesian Islamic capital market is sourced from the Indonesia Stock Exchange (IDX). They are generalizing the research period carried out during the covid-19 period starting from March 2020 to November 2022. This research used several stages of the Cointegration Test, Granger Causality Test, IRF (Impulse Response Function) Test and Forecasting Error Variance Decomposition (FEVD) Test. The study results show that the global Islamic stock market has had a significant impact on the Indonesian Islamic stock market both in the short and long term in the era of the covid-19 shock.</em></p>

The Effect of BI Interest Rate, Exchange Rate, and Inflation on The Indonesian Sharia Stock Index (ISSI)

The development of the capital market has experienced quite good growth in Indonesia, including the Islamic capital market. The existence of a sharia capital market with various investment instruments such as sharia shares, sukuk, and sharia mutual funds provides investment opportunities for those who wish to invest with sharia principles. The development of sharia investment instruments, especially sharia shares, continues to show improvement. It is then supported by the Indonesia Stock Exchange (IDX) by issuing the Indonesian Sharia Stock Index (ISSI) which is a benchmark for the performance of sharia shares in Indonesia. The development of the Sharia Stock Index has continued to increase since it was published although it experienced fluctuations in several periods. It is presumably due to changes in macroeconomic variables. Therefore, the study aims to analyze the effect of the BI interest rate variable, exchange rate, and inflation on the Indonesian Sharia Stock Index (ISSI) for the period 2015 to 2020. The study uses quantitative methods, with data analysis The Error Correction Model (ECM) uses the EViews version 9 application, ECM analysis to determine long-term and short-term economic phenomena from the interaction of several research variables. The results obtained show that in the long term, the exchange rate and BI interest rate variables have an influence on the Indonesian Sharia Stock Index (ISSI) while in the short term the exchange rate variable has an influence on the Indonesian Sharia Stock Index (ISSI). Whereas, the inflation variable has no effect on the Indonesian Sharia Stock Index (ISSI) in the long and short term.

Student Interest In Investing In Sharia Capital Market: What Is The Influence Of Product Information?

The purpose of this study was to determine the effect of product information (capital market instruments) on interest in investing in the Islamic capital market. The variables in this study consisted of the marketing of capital market instruments and interest in investing in the Islamic capital market. This type of research is field research with quantitative methods. The steps of data analysis using analysis tools of validity test, reliability test, correlation analysis, and hypothesis testing (simple linear regression test, t-test, and analysis of determination). The result of this study is that information on capital market instruments has a positive and significant effect on interest in investing in the Islamic capital market. One of the implications of this research is that the Islamic Investment Gallery IAIN Batusangkar further enhances the dissemination of information on Islamic capital market products to students so that they are interested in investing

Understanding and Interest in Sharia Capital Market Investment of PTKIN And PTKIS Students

Sharia investment is currently trending in the world of investment in Indonesia. Moreover, the current PTKI students are Generation Z, who are more familiar with the virtual world and the world of online investment. Thus, the understanding and interest of Generation Z in sharia investment needs to be analyzed in order to develop the Islamic capital market. The research article explains how high the understanding and interest of public and private Islamic university students towards Islamic capital market investment is. It uses a combination of quantitative and qualitative methods. Quantitative research is done by survey using Google Form, to 300 students at PTKIN/S in West Sumatra. The samples are 154 student respondents from 3 PTKIN and 129 students from 5 PTKIS. The effect of understanding on interest in investing in the Islamic capital market is significant. If understanding increases by 1 point, then interest will increase by 0.481 points. There is no difference in the investment interest of PTKIN students and PTKIS students. Qualitative research was conducted by collecting student arguments in FGDs related to the determinants and efforts to increase understanding and interest in investing in the Islamic capital market. Many determinants of understanding come from external, while interest is heavily influenced by internal factors. Efforts to increase understanding can be done by studying academically, using the internet more wisely, and attending seminars and discussions. Meanwhile, increasing interest, it can be done by increasing understanding, motivation, and interaction with Islamic capital market investment figures.

Effect of Formal Education, Social Media, and Influencer on Interest in Making Sharia-Stock Investment Among Students at SMA N 2 Sleman

This study aimed to determine the effect of family, peers, formal education, social media, and influencers on interest in making investment in sharia stocks. This was quantitative research. The population of this study consisted of the students of SMAN 2 Sleman. The study used a purposive sampling technique of which the inclusion criterion was those who had capital-market literacy. There were 30 samples consisting of social-sciences students at SMAN 2 Sleman. The data in this study were collected using an online questionnaire. The data analysis technique was multiple regression analysis. It can be concluded that the variables of formal education, social media, and influencers have an effect on the interest in making sharia-stock investment.
 Keywords: Investment; Sharia Stocks; Sharia Capital Market; Social Media; Influencer

Do Social & Psychological Factors Affect Investment Intention in Islamic Capital Markets?

This research aimed to predict social and psychological factors affecting individual investment decision in the Islamic capital market. Furthermore, the Theory of Planned Behavior Model (TPB) was used to explain irrational investor decisions affected by cognitive biases. We attempted to correct the pessimistic view of investors on the Islamic capital market using social & psychological perspectives. This study used a self-administered survey and obtained 82 investors and non-investors as respondents. The main criteria of individuals selected as respondents of the study were those who knew about the stock market and have heard the term Islamic capital market. This paper provided empirical insights on how the TPB model successfully explains the variance of change in investment intention. The results indicated that all predictors had a significant positive effect on individual investment intention. Individuals tend to exhibit a cognitive bias that lead to irrational decisions because individual’s attitude and PBC shape false perception of the usefulness of the Sharia capital market.

Shariah Perspective on Investing in Islamic Capital Market: A Qualitative Study

The capital market is one indicator of economic growth in a country. The capital market development is currently very fast as an alternative to investment for investors. Sharia capital market activities do not conflict with sharia principles in the capital market. The Islamic capital market is universal and can be used by anyone regardless of ethnic background, religion, and race. This study aims to find out how sharia investment benefits elements in the world and in the hereafter, will become the main priority. Therefore, the investment is long-term. Islamic law strongly supports investment activities in the Islamic capital market because it contains the basis of Islamic law referred from the Qur'an, Hadith, Fiqh and the opinions of scholars.

Pelatihan Sekolah Pasar Modal Syariah Untuk Berinvestasi Dimasa Pandemi Covid-19

This Community Service activity aims to build investor spirit among millennials, especially in stock investment. Because there are still many who do not understand how to start investing, so our PKM team took the initiative to provide SPMS (Sharia Capital Market School) training. This community service activity method uses a direct practice method, namely by opening an account by providing material first. The hope from the implementation of this service is the growth of young investors who are smart in reading business opportunities in stock investment

PENERAPAN AKAD MUDHARABAH DAN MUSYARAKAH DI PASAR MODAL SYARIAH INDONESIA

The Covid-19 pandemic has had many impacts on people in Indonesia, one of which is in terms of the economy. However, at the same time, the Indonesian capital market actually experienced an increase in the number of investors by 87.59 percent until December 2021. From this increase, it is expected that all users in the capital market, especially in the Islamic capital market, will know the principles and contracts made to transact in the Islamic capital market. The results of the study explain that mudharabah and musyarakah contracts can be used in transactions in the capital market with the condition that they must comply with sharia principles and each party must know their rights and obligations. This study uses descriptive qualitative methods with data collection techniques by library research (library study) where the authors collect data from books, articles, journals, internet sources and magazines related to the research.
 Keywords: Sharia Capital Market, Mudharabah Contract, Musyarakah Contract

Prospective Investors Perception on Investment Intention in Indonesia Sharia Stocks Market: A Conceptual Framework


 Capital markets are an important component of the financial system, investment decisions are important for one’s future and these decisions are related to many factors. Investment is one of the teachings and concepts of Islam and the emergence of sharia stocks in the Indonesian capital market opens up opportunities for the Indonesian Muslim community to invest. As a country with the largest Muslim population globally, Indonesia is a country with the largest sharia capital market share globally. This should encourage and facilitate Islamic investors to invest in the Indonesian economy, especially the capital market. Yet the fact is, sharia stocks are still lower than the growth target The number of studies on the intention to invest in stocks in Indonesia which is relatively few led this study to try to test the influence of behavior on attitudes, subjective norms and behavioral control perceptions on the intention to invest in stocks. This research paper aims to study the perception of prospective investors on factors that will influence their investment intention in sharia stocks in the Indonesian Stock Exchange. This study uses the theory of planned behavior (TPB) with attitudes, subjective norms and behavioral control as independent variables. This study combines three critical things namely, attitudes, subjective norms and behavioral control of assumptions. This research adopted a quantitative method using questionnaire distribution and analyses using SEM-PLS. The results of the research will contribute to the field of management and consumer behavior in decision making to investment. From this research, Indonesians can know and invest in the Indonesian stock market, especially sharia stocks. Research also contributes to the development of knowledge in the field of finance that focuses on investor behavior.
 
 
 Keywords: Attitude, Subjective Norms, Behavior Control, Intention, Sharia Stocks, TPB

Pengaruh Literasi Keuangan, Pengetahuan Investasi, dan Motivasi Terhadap Keputusan Berinvestasi Mahasiswa di Pasar Modal Syariah

This research is aims to examine the effect of financial literacy, knowledge of investment and motivation on students investment decisions in the sharia capital market. This research is carried out using quantitative approaches that obtain primary data from the spread of questionnaire. The data analysis carried out is the analysis of multiple linier regression. The population in this study were PTKIN student from East Java majoring in Sharia financial management, totaling 2.358 students. The sample used based on the slovin formula is 96 students. The result of this research show that financial literacy and knowledge of investment have an influence on students investmen decisions in the sharia capital market. Meanwhile, motivation do not have an effect on students investmen decisions in the sharia capital market
 Keyword : Financial literacy, knowledge of investment, motivation, sharia capital market

Determinant of Sharia Stock price Evidence Sharia Stock Price in Indonesia and Malaysia

Determinant of Sharia Stock price Evidence Sharia Stock Price in Indonesia and Malaysia

Vector Autoregression Analysis of The Relationship Between Inflation Rate, Interest Rate, and Exchange Rate To The Jakarta Islamic Index

The Indonesian Sharia Capital Market is an interesting thing to study because based on the 2019 Global Islamic Finance Report (GIFR) report, Indonesia is ranked first in the Global Sharia Financial Market. The Jakarta Islamic Index (JII) is the sharia stock index that was first launched on the Indonesian capital market on July 3, 2000 and only consisted of the 30 most liquid Islamic shares listed on the Indonesia Stock Exchange. This study will try to uncover how the relationship between macroeconomic variables in Indonesia by using Vector Autoregression (VAR) analysis and using monthly secondary data from 2012-2019. VAR analysis which has advantages including multivariate, free from spurious endogeneity and exogeneity variables and can detect relationships between variables in the equation system. The results of this study indicate that the JII of the previous period and the BI Rate have a positive influence on JII, while inflation and the Rupiah-US Dollar Exchange rate have a negative relationship with JII. The implication of the results of this study is to strengthen the rupiah price which greatly affects JII. Keywords: Shariah stock, JII, Macroeconomics, VAR.

Analysis of the Application of Sharia Principles in the Development of Sharia Capital Market (Case Study of the Indonesia Stock Exchange, North Sumatra Representative Office)

The problem in this study is whether the application of sharia principles is in accordance with the principles of the sharia capital market according to the DSN-MUI Fatwa NO: 40/DSN-MUI/X/2003 and POJK 15/POJK.04/2015. This study aims to determine the suitability of the application of sharia principles in the development of the Islamic capital market at the Indonesia Stock Exchange, North Sumatra Representative Office. The results of this study are expected to be able to provide input in the world of capital markets, especially in the Islamic Capital Market. This research was conducted at the Indonesia Stock Exchange Representative Office of North Sumatra. The data in this study are primary data and secondary data. The research method used is qualitative with a qualitative descriptive approach with the aim of providing a detailed description of the background, characteristics, and characteristics of the subject under study. The results of this study indicate that the application of sharia principles in the development of the Islamic capital market at the Indonesia Stock Exchange North Sumatra Representative Office has been in accordance with the principles of the Sharia Capital Market according to the Fatwa of DSN-MUI NO: 40/DSN-MUI/X/2003 and POJK 15/ POJK.04/2015.

The Role of Neutral Information and Accounting Information of Women Investors in Investing in the Sharia Capital Market

The Role of Neutral Information and Accounting Information of Women Investors in Investing in the Sharia Capital Market

Reaction of Sharia Capital Market toward Political Events in Indonesia

This study aims to examine the reaction of the sharia capital market to political events in Indonesia. The political events referred to in this study are the events of the 2014 and 2019 presidential elections. The market reactions used are abnormal returns and stock trading volume. The sample in this study is stocks included in the Jakarta Islamic Index (JII) during the study period, which are 22 stocks. This study used an event study with an observation period of 21 trading days, namely 10 trading days before, one day of the day event, and 10 trading days after the 2014 & 2019 presidential and vice presidential elections. From the result, it can be seen that both tests are greater than 5%. Therefore, H0(1 and 2) are accepted.

ASPEK HUKUM PASAR MODAL SYARIAH DI INDONESIA

Along with the development of the times in the capital market experienced several developments such as the existence of the Islamic capital market. Indonesia is one of the countries that has developed a sharia capital market, therefore the role of the government and MUI should be to make legal regulations that regulate and become the basis for capital market activities so that they are in line with sharia principles so that as Indonesian Muslims it is important to know and apply them. This study aims to analyze the legal aspects of the Islamic capital market in Indonesia. The method used in this study is a normative juridical research method with a qualitative approach, analyzing the laws and concepts of the Islamic capital market in Islamic law. The results of the study show that in Indonesia the Islamic capital market was officially launched on March 14, 2003 along with the signing of the MoU and BAPEPAM-LK with the National Sharia Council of the Indonesian Ulema Council (DSN-MUI). In 2003, the DSN-MUI issued a fatwa regarding the permissibility of transactions in the capital market as long as the mechanism and object did not conflict with sharia principles. The fatwas issued by the DSN relate to the general provisions of the sharia capital market, its principles, issuers issuing sharia securities, criteria and types of sharia securities, prohibited transactions and determination of share prices.Keywords: Sharia Capital Market, Sharia Capital Market Law

Legal Reconstruction Settlement Of Sharia Capital Market Disputes: Strengthening Regulatory Aspects To Provide Legal Certainability

Regulations regarding the Islamic capital market follow the rules contained in Law 8/1995 concerning Capital Market, MUI DSN Fatwa Number 40 / IX / 2003, Bapepam and LK Regulations Number IX, A, 13, Number IX, A, 14, and Number ILKL. Of the several rules, none have clearly regulated the settlement of Islamic capital market disputes, either by litigation or non-litigation, which has resulted in a legal vacuum (leemten in het recht). The provisions for the settlement of sharia economic disputes, including the Islamic capital market disputes, are only found in Law 3/2006. Through quantitative research methods, this research seeks to harmonize the empty rules as well as to fill the legal gaps. The research concludes that the settlement of Islamic capital market disputes by litigation is resolved in religious courts, while non-litigation is resolved through BASYARNAS and / or as other civil disputes can also be resolved through alternative dispute resolution in accordance with Law 30/1999.