Sharia Stock Research Articles

Pengaruh Return On Asset, Return On Equity, dan Price Earning To Ratio Terhadap Harga Saham Syariah Berasarkan Closing Price Pada Perusahaan yang Terdaftar di Jakarta Islamic Index Periode Tahun 2020-2022

Investing in the capital market, investors need accurate information, so they are not trapped in adverse conditions. One of the information that can be used by investors in assessing a company is financial statements. For investors, financial statements are useful for determining the best and profitable investment decisions. Based on the analysis of financial statements, investors can find out the comparison of the intrinsic value of the company's shares compared to the market price of the company's shares. To measure stock prices, it can be known from the influence of financial ratios on stock prices. Financial ratios are designed to show the relationship between financial statement estimates. This study aims to determine the effect of Return On Asset, Return On Equity ((ROE), and Price Earning to Ratio on Sharia Stock Prices based on Closing Prices in Companies listed on the Jakarta Islamic Index (JII) for the 2020-2022 period. The research method is quantitative research, technical data analysis using descriptive statistics. The source of research data is secondary data in the form of financial statements and stock prices from companies listed on the Jakarta Islamic Index (JII) for the 2020-2022 period using purposive sampling techniques. Secondary data processing using SPSS analysis technique version 23. Hypothesis testing in this study used multiple linear regression tests. Based on the results of the study shows that Return On Asset partially does not affect Islamic stock prices, Return On Equity partially has a positive and significant effect on Islamic stock prices, and Price Earning to Ratio partially does not affect Islamic stock prices. Return On Asset, Return On Equity, Price Earning to Ratio simultaneously have a positive and significant effect on Islamic stock prices in companies listed on the Jakarta Islamic Index (JII) for the 2020-2022 period.

Capital Assets Analysis Pricing Model as a Basis for Investment Decisions Investment in Shares of PT Mustika Ratu and PT Multi Indocitra Listed on the IDX Period 2022

In investing, prospective investors' astuteness in exploring and processing information will be used as a decision-making tool for investing which will determine how much risk and profit they will obtain in the future. This research aims to determine the magnitude of profits and risks and classify efficient and inefficient shares by applying the Capital Asset Pricing Model method to cosmetics sub-sector companies listed on the IDX. The method used in the research is a qualitative method with quantitative data, in the form of a list of the latest stock prices, interest rates, and the Indonesian Sharia Stock Index sourced from the official website of the Indonesian Stock Exchange, Yahoo Finance, and Bank Indonesia.

The determinants of audit report lag: Evidence from Indonesia

The determining factors that cause delays in audit reports are essential for shareholders to pay attention to when making quick decisions. Delays in audit reports receive significant attention in the capital markets where audited financial statements in annual reports are the only reliable source of information available to investors. This study aims to identify factors that cause delays in audit reports in the form of company and industry specifics consisting of profitability, company size, audit committee, audit opinion, and size of a public accounting firm. The research method uses a panel data regression model to test five hypotheses based on data collected from annual reports from 2011 to 2021. The research sample selected were 46 companies in the construction and property services sector listed on the Indonesian Sharia Stock Index. Empirical findings show that a public accounting firm’s profitability, audit opinion, and size hurt audit report lag, while the audit committee has a positive impact. Company size is the only factor that does not have an impact on audit reporting delays. The research results provide recommendations for company management and shareholders that delays in audit reports can be reduced by increasing company profits. Apart from that, audit delay lag can also be reduced by appointing a reputable or international public accounting firm and providing a quality audit opinion.

POTENSI PROFIT INVESTASI PADA SAHAM SYARIAH LQ45 PADA TAHUN 2018-2023 DI BURSA EFEK INDONESIA

The main purpose of investing is to generate and increase profits in the form of a certain amount of money. Profit considerations for investors will influence the outcome of investment planning decisions. A new challenge for Muslim investors is whether investing in Islamic stocks can generate better returns and minimize risk. Or the risk is greater than the return achieved. Problems that often occur in the field experienced by investors are misjudging and analyzing the shares purchased, weak knowledge about shares, failing to make profits (Capital Loss), not getting capital again, not getting dividends, the company is not liquid. Seeing this phenomenon, it is necessary to analyze the profit level of investing in LQ45 sharia shares in the Indonesian Capital Market. This type of research is descriptive quantitative and correlative with a literature study approach with secondary data as a source of data. Based on the results of descriptive analysis within a period of 5 years, it shows that the average return of Islamic stocks is - 0.010424062 or -1%. There are 17 sharia stock companies, there are 10 companies that get negative returns so that it has an impact on the overall average return of sharia shares.

Analysis The Influence of Sharia Capital Market and Sharia Macroeconomic Variables on Indonesia’s Economic Growth

The research aims to determine the effect of the Sharia capital market and Sharia macroeconomic variables on Indonesia's economic growth in 2017-2021 in the short and long term. The research uses quantitative methods, and the data used is secondary data from time series. The data analysis techniques used are the vector autoregression (VAR) and the vector error correction model (VECM). The results show that in the short term, the Indonesian Sharia Stock Index (ISSI), corporate sukuk, household consumption, and inflation do not have a significant effect on economic growth. The variables of the Indonesian Sharia Stock Index (ISSI) and corporate sukuk have a significant negative effect on GDP in the long run. Meanwhile, inflation has a significant positive effect on GDP in the long run. Household consumption does not affect GDP in the long run. Simultaneously, all variables, namely ISSI, corporate sukuk, household consumption, and inflation, have no significant effect on GDP. GDP responds positively to shocks that occur in ISSI, corporate bonds, and inflation. Meanwhile, household consumption has a negative response from GDP. The variable that has the largest contribution is GDP, household consumption, ISSI, and inflation, and the smallest contribution is shown by corporate sukuk.

Pengaruh Analisis Fundamental, Teknikal dan Bandarmologi terhadap Harga Saham Syariah yang Terdaftar di Jakarta Islamic Index Periode 2018-2021

Equity-based sharia stocks that comply with Islamic principles. One of the sharia stock indices is the Jakarta Islamic Index (JII). JII is an index consisting of the 30 most liquid Islamic stocks on the IDX which was launched in 2000. To select 30 Islamic stocks to be included in the index calculation, there are additional criteria carried out by IDX, namely liquidity criteria. The liquidity indicators used are based on market capitalization and daily transaction value. Usually calculated based on the last one year period and every day there must always be transactions. This study uses a quantitative descriptive research method, namely research that emphasizes the analysis of numerical data processed by statistical models. This method is called the quantitative method because the research data uses numbers that indicate the value of the observation variable that leads to a certain time period. This research results that from the results of the t test table it is known that the fundamental analysis variables partially influence the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) in 2018-2021. From the results of the t test table it is known that the technical analysis variable has a partial effect on the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021. From the results of the t test table it is known that the bandarmological analysis variable has a partial effect on the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021. From the results of the f test table it is known that the variables of fundamental analysis, technical analysis, and bandarmological analysis simultaneously influence the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021.

Determinants of stock price volatility in Shariah-compliant firms

<p>This study examines how inflation, exchange rates, interest rates, earnings per share, debt-to-equity ratio, and dividend payout ratio impact the volatility of stock prices among companies listed on the Indonesia Stock Exchange between 2015 and 2018. The research focuses on companies included in both the Indonesian Sharia Stock Index (ISSI) and the broader Indonesia Stock Exchange (BEI) during this period. This research obtained a total of 680 samples with a purposive sampling method. This paper also uses regression data panel models by Eviews 9 software. The results of the test show that interest rates and earnings per share positively affect stock price volatility. Meanwhile, inflation and debt-to-equity ratio negatively affect stock price volatility. Apart from that, the exchange rate and DPR do not affect stock price volatility. The findings in this article can contribute to the existing literature related to stock price volatility and also provide benefits to policies for company stakeholders.</p>

THE INFLUENCE OF MACROECONOMIC VARIABLES ON THE INDONESIAN SHARIA STOCK INDEX PERIOD 2018 – 2022

Abstract
 This study aims to examine the effect of inflation, exchange rates, the BI-7 day reverse repo rate, and world oil prices on ISSI. The research method used is a quantitative method. The samples used in this study were 12 companies registered with ISSI. The data analysis technique in this study used panel data regression with the stages of the Chow test and the Hausman test. As well as testing the hypothesis with the stages of the f test, t test, and the coefficient of determination (R2). The results of this study prove that inflation has a significant negative effect on ISSI. The exchange rate has no significant effect on ISSI. BI-7day reverse repo rate has a significant negative effect on ISSI. And world oil prices have a significant positive effect on ISSI. The conclusion is that simultaneously inflation, exchange rates, BI-7 day reverse repo rate, and world oil prices influence the ISSI for the 2018 - 2022 period.
 Keywords: BI-7 day reverse repo rate, World oil prices, Indonesian sharia stock index, Inflation, Exchange rate

PENGARUH GREEN ACCOUNTING DAN CARBON EMISSION DISCLOSURE TERHADAP NILAI PERUSAHAAN MELALUI MAQASHID SYARIAH

This study aims to analyze direct influence between green accounting, carbon emission disclosure, and maqashid sharia variables on firm value and analyze indirect influence between green accounting and carbon emission disclosure on firm value through maqashid sharia as intervening variable in state-owned companies listed in Indonesian Sharia Stock Index in the 2017-2021 period. This study is a quantitative research with an associative approach. The type of data used is secondary data by using documentation techniques in retrieving data in the form of annual reports and sustainability reports in each company. The data analysis technique used is structural equation modeling (SEM) analysis with the partial least square (PLS) method, then all of which will be processed in the SmartPLS 3 application. The result of this study are there is no significant effect between green accounting and carbon emission disclosure on firm value and maqashid sharia, while maqashid sharia has a significant influence on firm value. Meanwhile, there is no indirect effect between green accounting and carbon emission disclosure on firm value through maqashid sharia.

PENGARUH LIKUIDITAS DAN KEPEMILIKAN PUBLIK TERHADAP KETEPATAN PENYAMPAIAN LAPORAN KEUANGAN PERUSAHAAN MANUFAKTUR SEKTOR BARANG KONSUMSI DI INDEKS SAHAM SYARIAH INDONESIA

This research was conducted with the aim of examining the effect of liquidity and public ownership on the timely submission of financial reports to companies in the consumer goods sector in the Sharia Stock Index for 2019-2022. This study was tested using 2 independent variables, namely: liquidity and public ownership. The dependent variable (dipendent) is the timeliness of submission of financial reports. The samples used in this study were 84 samples. The analysis of this research is logistic regression analysis and assisted by Eviews analysis 12 data used is panel data. The results of this study are that liquidity and public ownership partially have no significant effect on the timeliness of submission of financial reports. The results of the simultaneous test of liquidity and public ownership have an influence on the timeliness of submission of financial reports.

FAKTOR-FAKTOR YANG MEMPENGARUHI PERTUMBUHAN INVESTOR SAHAM SYARIAH DI INDONESIA TAHUN 2015-2021

Factors Influencing Economic Growth on the Growth of Sharia Stock Investors in Indonesia in 2015-2021
 Stocks have recently been increasingly in demand by the majority of people in Indonesia, many phenomena have occurred including economic problems, crises, politics, and others, but these fluctuations do not affect people's interest in buying Islamic stocks. This study aims to determine the effect of the dollar exchange rate, inflation, and economic growth on the growth of stock investors in Indonesia.
 This type of research is descriptive research which is analyzed using quantitative analysis. The data used are the financial reports of Islamic banks in Jambi through the Financial Services Authority (OJK), in the period from March 2015 to December 2021. The prerequisite analysis test was carried out using the normality test, muticolinierity, heteroscedasticity, and linearity tests. Furthermore, the data were analyzed using multiple linear regression analysis.
 Based on the results of the study, it can be concluded that during the period from 2015 to December 2021, the dollar exchange rate has no significant effect on the growth of Islamic stock investors and inflation has a significant negative effect on the growth of Islamic stock investors in Indonesia, GRDP has a significant effect on the growth of stock investors in Indonesia. and simultaneously the Dollar Exchange Rate, Inflation, and Economic Growth are significant for the Growth of Stock Investors in Indonesia.

Pengaruh Risiko Sistematik Dan Rasio Pasar Terhadap Return Saham Syariah Pada Perusahaan Yang Terdaftar Dalam Indeks Saham Syariah Indonesia

This research aims to determine the effect of systematic risk and market ratios on sharia stock returns in companies listed in the Indonesian sharia stock index for 2020-2022. The independent variables in this research are systematic risk and market ratios and the dependent variable in this research is stock returns. The research sample is companies listed in the 2020-2022 Indonesian Sharia Stock Index. The sample was selected using a purposive sampling technique to obtain 12 companies listed in the sharia stock index. This research uses multiple linear regression analysis research methods. The research results show that systematic risk and market risk have a positive effect on sharia stock returns simultaneously.Keywords: systematic risk, market ratio, Islamic stock returns.

To What Extent Could Alternative Economic Models Increase Investment in the Renovation of and Reduce Energy Poverty in Social Housing in Flanders?

An important share of the social housing stock in Flanders is outdated, resulting in a high energy demand for heating. Energetic renovation is hence urgently needed. The current economic model, however, does not stimulate this due to a split incentive. As energy prices have increased in the past few years, more tenants have suffered from energy poverty. This paper investigates three alternative economic models aiming at increasing the incentive for renovation, while financially protecting the tenants. In the first alternative model, tenants are protected by inducing a maximal cost of living based on their income. In the second alternative model, a fixed rent is applied, while the third alternative model proposes to share the cost benefits of the energetic renovation. The paper analyses the alternative models by assessing the costs and income for social housing companies and the costs for tenants for an unrenovated building, a renovation with a low investment cost and a deep energetic renovation. The results show that limiting the cost of living based on income seems most interesting as this is beneficial for the tenants and gives an incentive for the social housing companies to renovate. To reduce energy poverty, a deep renovation is necessary.

Indeks Saham Syariah Indonesia: Pengaruh Faktor Makro Ekonomi Di Masa Pendemi Dan Pasca Pendemi

This research is presented based on an event where the Indonesian Stock Exchange (IDX) recorded an ISSI increase of 13.9% from March 2 2020 to March 31 2021 in line with an increase in the Islamic stock market index. This strengthening actually occurred at a time when Indonesia's macroeconomic conditions experienced a contraction during the Covid-19 pandemic. According to Martalena and Maya Melinda there are at least five economic factors that can influence stock price movements, namely inflation, government policies regarding fuel prices, national income per capita, currency exchange rates, interest rates. So based on this theory, researchers took three factors that influence stock price movements in the Indonesian Sharia Stock Index in 2020-2022, namely Interest Rates, Rupiah Exchange Rate and Inflation.
 This study uses a descriptive quantitative approach with multiple linear regression analysis..
 The results of this study found that Interest Rates and Rupiah Exchange Rates had a significant negative effect on ISSI while Inflation had a significant positive effect. where if inflation strengthens, ISSI will also increase based on the period mentioned. The level of explanation of the independent variable on the dependent variable is 69.1% where 30.1% is influenced by other variables.

The Effect of Intellectual Capital on Financial Performance with Financial Distress as A Moderation Variable

Increasing the performance company is the objective main for the company For attract investors. Financial performance can be used by management to make decisions. Financial performance information is very important for investors as a tool for choosing investments. The company's financial performance shows its ability to use the existing resources of the company as well as possible in order to generate profit or income. The objective of the study is To know the influence of intellectual capital, sales growth, and leverage on performance finances, and know is financial distress can moderate the relationship between independent and dependent variables. Population in study This is a company registered manufactures _ in the Indonesian Sharia Stock Index (ISSI) and obtained a sample of as many as 20 companies. Study This using multiple linear regression techniques and Moderating Regression Analysis (MRA) with application eviews. Research results This shows that influential intellectual capital has a positive significance on performance finance, sales growth No influence on performance finance, leverage significant negative effect on performance finance, financial distress capable moderate influence on intellectual capital to performance finance, financial distress No capable moderate influence sales growth to performance finance, financial distress No capable moderate influence leverage to performance finance.

Pengaruh Teori Technology Acceptance Model, Religiusitas Dan Sikap Terhadap Niat Investor Berinvestasi Pada Saham Syariah Di Indonesia

The emergence of sharia investment products in the Indonesian capital market opens up opportunities for Indonesian Muslims to invest. At present, the growth of investors in Islamic stock investment has not developed significantly. Sharia Online Trading System (SOTS) is the first system in the world developed to facilitate sharia investment in conducting stock transactions in accordance with sharia principles. This study aims to examine the factors that influence the intention to invest in sharia shares in Indonesia with attitude as mediation using the Technology Acceptance Model (TAM) theory using a questionnaire in data collection. The population in this study comes from data on Islamic stock investors in Indonesia with a total of 382 respondents and the data was analyzed using descriptive SEM-PLS research. The results of the study found that there was an influence perceived ease of use, religiosity, investor attitudes towards investment intentions in sharia shares. Perceived ease of use, religiosity had an effect on attitudes. The perceived usefulness does not show an influence on investor attitudes and there is also no effect of the perceived usefulness on the intention to invest in sharia shares. Variables perceived ease of use and religiosity using attitude as mediation, a positive influence was found, but not with perceived usefulness in attitude as mediation on the intention to invest in sharia stocks.

Performance of Indonesia Sharia companies: Does corporate ethical identity matter?

Purpose - The development of Islamic finance has made many Indonesia sharia companies register themselves as part of the Indonesia Sharia Stock Index (ISSI). The government always encourages sharia economic growth that upholds ethics. From the Islamic perspective, ethics is the foundation of all aspects of life. This study aims to analyze the performance of Indonesia sharia companies, by linking the importance of Corporate Ethical Identity (CEI) which is implemented in corporate culture.Method - Quantitative research is reviewed through the annual reports of manufacturing companies registered at ISSI for the 2018 and 2019. Linear regression analysis, along with moderated regression analytics, was used to analyze data from 154 manufacturing companies.Result - The results of the study show that CEI has a positive influence on firm performance, and ownership structure as a moderating variable strengthens the influence of CEI on firm performance.Implication - Sharia companies in Indonesia are advised to increase CEI reporting so as to improve financial performance in accordance with sharia principles.Originality - This study represents the inaugural investigation into CEI within Islamic companies operating in Indonesia, with a specific emphasis on corporate culture. The novelty in this research is the focus on company culture, and what distinguishes it from the mentioned study is the utilization of the ownership structure concept as a moderating variable. It also incorporates the utilization of the ownership structure concept as a moderating variable.

Pengaruh BI Rate, Jumlah Uang Beredar, Dan Nilai Tukar Terhadap Return Saham Property And Real Estate Tahun 2020 - 2022

This study aims to determine the level of the BI Rate, the money supply, and the exchange rate for sharia stock returns in property and real estate companies for the period 2020 - 2020. This research uses quantitative research. The population of this study used 53 property and real estatecompanies listed on the IDX for 2020 – 2022. The sample used a purposive sampling method with criteria including property and real estatecompanies listed on the IDX for 2020 – 2022 and have the required financial report data by this research variable in order to obtain a sample of 15 companies. The data sources obtained for this study are from the Indonesia Stock Exchange (IDX) and Bank Indonesia for 2020 – 2022. The results of this study partially show that the BI Rate variable and the Tupiah Exchange Rate against the dollar have no significant effect on stock returns and the money supply has a significant effect on stock returns. Meanwhile simultaneously the variables BI Rate, the money supply, the exchange rate of the rupiah against the dollar have a significant effect on stock returns.

Запасы углерода в 40-летних культурах сосны обыкновенной

The paper presents an assessment of carbon stocks in components of above-ground phytomass of the tree layer of 40-year Scots pine crops (Pinus sylvestris L.) growing in different forest conditions of the Baltic-Belozersky taiga region of the European North of Russia. The studied pine crops were created on fresh, unsodded clearings with a low degree of litter in lichen, lingonberry and bilberry types of forest growth conditions, which are characterized by significant differences in bioproductive potential. It was found that the smallest carbon pool is formed in the stand of a 40-year pine stand of lichen-type culture-phytocenosis (16.59 t/ha), the largest – in the blueberry type of habitat conditions (69.41 t/ha). In artificially created 40-year lingonberry pine forest, carbon stocks in the above-ground phytomass of the tree layer have an intermediate position (44.40 t/ha). The highest relative value of bound carbon is reached in such component of aboveground phytomass as trunk wood. The share of carbon stocks in this fraction of the total aboveground phytomass of the forest stand of the studied pine cenoses varies from 59.5 % in lichen type of habitat conditions to 75.6 % in blueberry one. Branches and needles have close quantitative values of carbon stocks and similar structure of differentiation along the forest typological gradient, occupying a secondary position in the carbon pool of the forest stand of the studied artificial pine forests after stem wood. The proportion of carbon bound by these fractions of aboveground phytomass of the stand decreases from the least productive lichen pine forest to the more productive blueberry pine forest. The share of carbon accumulated by stem bark in the total carbon pool of aboveground phytomass of the stand of the studied artificial pine forests tends to decrease from lichen pine forest to blueberry pine forest. The fraction of dry branches has the smallest percentage of carbon stocks in the tree stand in all studied forest conditions (2.3–5.9 %). For citation: Klevtsov D.N., Tyukavina O.N. Carbon Stocks in 40-year Scots Pine Crops. Lesnoy Zhurnal = Russian Forestry Journal, 2023, no. 5, pp. 195–203. (In Russ.). https://doi.org/10.37482/0536-1036-2023-5-195-203

COINTEGRATION AND CONTAGION EFFECT CONVENTIONAL AND SHARIA STOCK INDICES DURING COVID-19

The COVID-19 pandemic has also affected stock price movement all over the world, along with the changes in the economic sector. Many studies have tried to reveal the integration of stock indices worldwide, but little show the Sharia Indices’ movement due to the COVID-19 pandemic. This study analyzes the cointegration and contagion effect during the pandemic on Conventional and Sharia stock indices in Asia Pacific, China, Malaysia, and Indonesia. This study explores the difference between Sharia and Conventional indices during the COVID-19 pandemic. VAR (Vector Auto-Regressive) and VECM (Vector Error Correction Model) were used to analyze the hypothesis with E-Views 12. The data used in this study was the closing date from each index from 1 July 2018 to 30 June 2022. This study showed no cointegration effect between Sharia indices during the pandemic, but there was a cointegration effect on Conventional indices. During the pandemic, there was a contagion effect on both Shariah and Conventional indices. The results of this study are expected to be a reference basis for promoting the Sharia Stock Market because it is more proven in dealing with crises than the Conventional Stock Market.