Sharia Stock Research Articles

Fundamental and macroeconomic analysis of stock prices in the consumer non-cyclicals sector listed on the Indonesia Sharia Stock Index

Fundamental and macroeconomic analysis of stock prices in the consumer non-cyclicals sector listed on the Indonesia Sharia Stock Index

Sharia Stock Transaction Accounting

There are several things that need to be considered in Sharia Stock Transaction Accounting. A share can be called a sharia share if the issuer and public company issue it. Because in the articles of association the issuer and public company do not conflict with sharia principles. The journal writing data that we obtained used a qualitative writing method where the information we got came from articles about Sharia Stock Transaction Accounting.

Momentum trading: How it differs among investor segments

ABSTRACT This study explores the momentum trading behaviours across different investor segments in the Turkish stock market. The empirical analysis confirms the positive return of the momentum strategy both in absolute terms and relative to the market benchmark, and the results support distinctive trading patterns among different investor segments. Specifically, foreign investors follow momentum trading, while domestic individuals lean towards contrarian trading. Further analysis shows that domestic individual investors exhibit a propensity to sell stocks with unrealised capital gains and to increase holdings of stocks with unrealised capital loss consistent with the disposition effect. Nevertheless, the trading behaviour of domestic individual investors could not be explained solely by the disposition effect. In contrast, foreign investors increase ownership share in stocks with unrealised capital gains but their momentum trading behaviour is confirmed even after controlling for disposition effect. These findings contribute to the broader understanding of investor trading behaviour within an emerging market context and provide valuable insights into the applicability of results from developed markets.

The Effect of Selected Macroeconomic Variables on Sharia Mutual Funds in Indonesia: A Multidimensional Analysis with VECM Approach

This study determined the short-term and long-term effects of Inflation, Indonesia crude price, and Indonesia sharia stock index on sharia mutual funds in Indonesia. This research utilized secondary data from January 2014 - December 2023 sourced from the Financial Services Authority (OJK), Central Agency on Statistics (BPS), Ministry of Energy and Mineral Sources of the Republic of Indonesia (KESDM). This study uses long run and short run VECM tests. The results show that the long-run VECM estimates indicate that the Inflation variable and the Indonesian sharia stock index have a long-term significant positive effect on Islamic mutual funds in Indonesia. While the Indonesian crude price has a long-term significant negative effect on Islamic mutual funds in Indonesia. The short run VECM estimation results show that there are no variables that affect Islamic mutual funds in Indonesia. Granger causality test reveals the causal relationship between various variables on Islamic mutual funds. The conclusions obtained can be used as a reference for potential investors in making investment decisions for the short and long term.

Discourse Analysis of Indonesian Sharia Stocks: Insights from Twitter Using Social Network Analysis

Discourse Analysis of Indonesian Sharia Stocks: Insights from Twitter Using Social Network Analysis

INVESTING IN SYSTEMS DIGITAL FINANCE IN PERSPECTIVES ON ISLAMIC LAW STUDIES CASE: SYSTEM ONLINE LOANS

This research aims to determine the number of cases of illegal businesses imitating licensed entity websites as if the website officially belonged to the licensed entity. Therefore, one way to protect potential investors from illegal businesses is to find out whether the company is registered with the Financial Services Authority (OJK) or not. Therefore, this article examines sharia investment options to avoid illegal business. This study uses a descriptive-qualitative approach to study literature. Additionally, all the data collected will likely be essential to what is being researched. Thus, the research report will contain quotations and data processing to provide an overview of the report's presentation. The results of this research are several Sharia investment instruments that have been registered with the OJK to avoid fraudulent investments, including Sharia stock investments, Sharia mutual fund investments, Sharia deposits, retail sukuk, and gold.

Building renovation between CAM and Superbonus: limitations and prospects for mass retrofitting

This paper reflects on the results of the recent technical policy for energy requalification in Italy, focusing on both the European objectives of decarbonisation, circularity and industrialisation of the sector, and the size and characteristics of demand. Starting from the comparison between the two main models of efficiency of the public and private building stock, based respectively on the Minimum Environmental Criteria and the Superbonus, the study examines the effectiveness and limitations of the measures for private construction, which constitutes the majority share of the entire Italian building stock. The study identifies the Energiesprong model as a possible way to improve the management and quality of energy requalification interventions capable of expanding their effectiveness beyond the environmental point of view.

Comparative Analysis of Indonesia and Malaysia Sharia Stock Index Performance Using Sharpe, Treynor, and Jensen Methods

Comparative Analysis of Indonesia and Malaysia Sharia Stock Index Performance Using Sharpe, Treynor, and Jensen Methods

Leveraging digital footprints data for accurate estimation of the residential housing stock in the United Kingdom, 1997–2022

ABSTRACT This paper explores the use of digital footprints data to improve on the limited information available on the size and distribution of the residential housing stock in the United Kingdom over the past two decades. We use a subset of a large dataset consisting of the names and addresses of more than one billion individuals dating back to 1997 (LCRs: Linked Consumer Registers) to calibrate property lifecycle information within an authoritative geolocated address and property dataset. We validate the results of our novel calibration method against official estimates by the UK government covering the same period. We further show that our calibration method, based on individual level data, captures a much larger share of the residential housing stock since 1997 than would have been possible with other available data sources. We argue that these housing stock estimates are fundamental to the development of a comprehensive digital footprints data infrastructure that has the potential to significantly enhance population, migration, and other social statistics in the UK. More generally, this study highlights the benefits of using digital footprints data in refining, calibrating, and extending existing datasets.

THE INFLUENCE OF CEO'S CHARACTERISTICS ON ESG RATING AND EFFICIENCY OF GOLD MINING COMPANIES

This study examines the role of the CEO in implementing ESG policy, which results in the growth of ESG rating and improving the efficiency of gold mining companies. The research analyses the indicators of CEO power, such as: the amount of CEO remuneration; the share of company stocks owned by him; the term of office. The general index of CEO authority is derived by combining individual characteristics. The methodology used is an econometric analysis of panel data on 36 of the world's largest public gold mining companies for the period from 2015 to 2020. The efficiency of gold mining companies is measured using a market indicator - Tobins'Q, which allows you to make a decision about investing in an enterprise aimed at sustainable development. Gold mining companies successfully implement ESG projects and become a full-fledged object for investment. The results of the study show that ESG rating and its three components (environmental, social and managerial) have a positive impact on the market efficiency of gold mining companies. Of the considered characteristics of CEOs, two of them - the amount of CEO remuneration and the percentage of shares ownership, have a positive impact on the market efficiency of companies. The term of office does not have a significant impact on the effectiveness of companies. The overall indicator of authority contributed to the increase in efficiency due to two characteristics. If we consider the CEO as an intermediary between investing in ESG projects and increasing the company's efficiency, it turned out that only an influential CEO, characterized by a high amount of remuneration, can contribute to increasing the ESG rating and improving the company's market efficiency. The findings illustrate the peculiarities of the influence of the CEO's characteristics on the performance of gold mining companies, taking into account the principles of ESG. The results of the study will improve corporate governance of gold mining companies to ensure the growth of performance indicators, taking into account the specificity of the industry and its focus on sustainable development.

A comparative analysis of factors determining the value of the Indonesian Sharia Stock Index (ISSI) before and after the Covid-19

A comparative analysis of factors determining the value of the Indonesian Sharia Stock Index (ISSI) before and after the Covid-19

Mapping societal resilience across eight European nations in the context of multifaceted associations with global indices: An ecological study

Facing global challenges like economic crises, political unrest, and public health issues, societies must be resilient. Societal Resilience is the collective capacity to endure and bounce back from such adversities. This study delves into its complexity and its ties to economic, social, healthcare, and political domains, offering insights for decision-makers and academics. A Societal Resilience questionnaire was distributed across eight nations (Czech Republic, Estonia, Georgia, Lithuania, Poland, Romania, Slovakia and Ukraine) in late 2022 and early 2023, with the results compared to international data. Statistical methods revealed significant links between Societal Resilience and four global indicators: urban population and immigrant stock share (both positively correlated), and population growth (negative), as well as perceiving climate change as a major threat (negative). Excluding Ukraine, twelve significant connections emerged, including gender equality and corruption perception. The research underscores the importance of multifaceted, informed approaches to bolster Societal Resilience, providing a policy and practice framework to navigate a complex global landscape. Further studies should expand the country sample to examine more relationships, like those between financial factors and Societal Resilience.

PENGARUH VARIABEL MAKROEKONOMI TERHADAP INDEKS SAHAM SYARIAH INDONESIA (ISSI) PADA TAHUN 2011-2022

This research was motivated by the inconsistent relationship between the Indonesian Sharia Stock Index (ISSI) and macroeconomic variables that influence Indonesian sharia stock prices including the inflation rate, Bi Rate, rupiah exchange rate, world oil prices, gold prices, and economic growth. The research aims to analyze, determine and explain the impact of the Indonesian Sharia Stock Index on macroeconomic variables. This type of research uses quantitative data for the period 2011 to 2022 sourced from BPS, Investing.com, BI and OJK. Data analysis techniques involve multiple linear regression tests, classical assumption tests, and hypothesis tests. The indicator achievement results describe macroeconomic variables, namely Bi Rate has a significant negative impact, the rupiah exchange rate tends to be positive and significant, and economic growth has a significant positive impact, while inflation, world oil prices and gold prices have no impact and are not significant, meaning that the Indonesian ISSI sharia stock price experiences Volatility is not fully influenced by macroeconomics, especially Bi Rate, Rupiah exchange rate, and economic growth, which means these variables contribute to the movement of Indonesian Sharia stock prices (ISSI) so that research refers to policymakers, stakeholders and investors who can consider factors fundamentally. as well as analytics in decision making and portfolio management in the Indonesian sharia stock market.

The Effect Of Earnings Per Share, Debt To Equity Ratio And Net Profit Margin On Stock Returns In Property And Real Estate Sector Companies Listed On The Indonesian Sharia Stock Index (Issi) For The 2018-2023 Period

The company's financial performance is one of the factors that investors pay attention to in investing in the capital market. One of the investment instruments is stocks. The purpose of stock investment is to obtain a share retreat. This study aims to determine the effect of Earning Per Share, Debt to Equity Ratio and Net Profit Margin on stock returns in Properties and Real Estate sector companies listed on the Indonesian Sharia Stock Index (ISSI) for the 2018 ̶ 2023 period. The analysis method used is the panel data regression method with the selected model being the Common Effect Model (CEM). The population in this study is all companies included in the Properties and Real Estate sector listed on the Indonesia Stock Exchange (IDX) for the 2018 ̶ 2023 period as many as 87 companies. The determination of the number of samples was carried out using the Purposive Sampling technique and determined as many as 16 samples of the Company. The results of the t test show that partially Earnings Per Share and Net Profit Margin have a significant effect on stock returns while the Debt to Equity Ratio does not have a significant effect on stock returns. The results of the F test show that simultaneously Earning Per Share, Debt to Equity Ratio and Net Profit Margin have a significant effect on stock returns in Properties and Real Estate sector companies listed on the Indonesian Sharia Stock Index (ISSI) for the 2018 ̶ 2023 period.

Sharia stock market integration of oic countries before and during the crisis of the russian-ukraine war

An integrated stock market has negative impacts, such as accelerating co-movement, which is vulnerable to economic shocks and global market crises on the domestic market. One of the crises in 2022 was the Russia-Ukraine war which impacted the stock market, including Sharia stocks which were believed to be more resistant to the shocks of the global crisis. This study examines the development, integration, and response of OIC countries five Islamic stock markets in the Russia-Ukraine war. The method used is VAR/VECM on the DJIMMT25, SPSADS, SPSUUAEDS, JII, DJIMT, SPBMIR, and SPBMIU indices. The results show the same movement in the UAE and Saudi Arabia stock markets, while Turkey experienced a positive trend during the war. The Islamic stock market of the OIC countries during the Russia-Ukraine war was cointegrated. In contrast, the Malaysian stock market influenced the Islamic stock markets of the other four OIC countries. The IRF results show a permanent effect on the volatility of the Islamic stock market in OKI countries due to the shocks given. However, the volatility response is relatively small because the stock market itself dominates the contribution of shocks.

Determinants of Fundamental Factors on Dividend Policy on the LQ45 Sharia Stock Index in Indonesia

This study aims to empirically examine the factors that are considered to influence dividend policy on the LQ 45 Sharia Stock Index in Indonesia. Dividend policy is closely related to determining the profit that will be distributed among shareholders and reinvestment as retained earnings. The independent variables in this study include Current Ratio (CR), Return on Equity (ROE), Debt to Equity Ratio (DER), and Earning Per Share (EPS). While the dependent variable is the Dividend Payout Ratio (DPR). The type of research is quantitative research that uses secondary data. The sampling method used was purposive sampling. It was found that 13 companies distributed dividends consecutively during the study period, namely 2016–2022. The data analysis technique used is multiple regression analysis with panel data as the method of analysis. Liquidity (CR) and Profitability (ROE) have no significant effect on the Dividend Payout Ratio (DPR). While Leverage (DER) and Earning per Share (EPS) have a significant influence on the Dividend Payout Ratio (DPR). Keywords: dividend payout ratio, current ratio, return on equity, debt to equity ratio, earning per share

CAPITAL STRUCTURE OF PROPERTY AND REAL ESTATE COMPANIES IN INDONESIA SHARIA STOCK INDEX: INFLUENCE OF PROFITABILITY, LIQUIDITY, AND ASSET STRUCTURE

The era of globalization has created free and borderless business competition. Slow growth in the property and real estate sector underscores the importance of companies managing their capital structure well to ensure business continuity. The objectives of this research are to assess the influence of Profitability, Liquidity, and Asset Structure on the Capital Structure of companies within the property and real estate sectors listed on the Indonesia Sharia Stock Index (ISSI) on the Indonesia Stock Exchange between 2020 and 2022. Utilizing a quantitative approach, the research draws on secondary data from annual reports of 48 sampled companies. The analytical methods employed include multiple linear regression, prerequisite tests, classical assumption tests, and hypothesis testing. The research findings indicate that the profitability variable has a negative and insignificant effect on the capital structure. Meanwhile, the liquidity and asset structure variables negatively and significantly affect the capital structure.

Comparative Analysis of Sharia Stock Price Indices in Indonesia, Turkey, China, and Malaysia: A Study of Integration in Sharia Capital Markets

Comparative Analysis of Sharia Stock Price Indices in Indonesia, Turkey, China, and Malaysia: A Study of Integration in Sharia Capital Markets

Developing Exp-FIGARCH Hybrid Models for Time Series Modelling

In this paper, we introduced a new hybrid model namely Exponential Autoregressive-Fractional Integrated Generalized Autoregressive Conditional Heteroscedasticity (ExpAR-FIGARCH) model and study financial data. The Daily Nigeria All Share Stock Index that exhibit nonlinear, volatility and long memory effect were analyzed in the study. The existing ExpAR-Generalized Autoregressive Conditional Heteroscedasticity (ExpAR-GARCH) model were estimated and compared with the proposed ExpAR-FIGARCHmodel. Results showed that the new hybrid model is better based on efficient parameters, serial correlation analysis and forecast measures of accuracy. Therefore, as a conclusion, the current study indicates that the ExpAR-FIGARCHmodel performed better compared to the ExpAR-GARCHhybrid model. Therefore, the ExpAR-FIGARCHmodel is a better option for modeling nonlinear, volatility and long memory characteristics of time series. Future study should focus on the application of the developed hybrid ExpAR-FIGARCHmodel using health, meteorological and economic data.

The Effect of Overconfidence Bias on Investment Decision: Sharia Stock Considerations

Investment decisions are a complex process involving risk evaluation, market analysis, and investment return projections. In the decision-making process, investors sometimes show irrational behavior because they have cognitive limitations and previous investment experience so investors are exposed to overconfident behavior. This research used 178 samples consisting of investors who had investment experience of at least 1 year. The research carried out instrument testing and used the common method bias (CMB) testing procedure. The analytical method in the research uses simple linear regression. The results of testing the research hypothesis obtained positive and significant results of overconfidence bias towards irrational investment decisions The moderating role of sharia sharia considerations on the relationship between overconfidence bias and unsupported investment decisions. This research reveals that overconfidence can have a positive influence on irrational investment decision-making. Investors who tend to have excess confidence in their knowledge and skills in analyzing the market tend to make investment decisions that are more impulsive, less rational and sometimes ignore risks significantly. Future research is recommended to further investigate the mechanisms behind the relationship between overconfidence and irrational investment decision-making, as well as involving a wider sample to obtain stronger generalizations.