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All Journal Journal of Shariah Economics
Nurma Widia Syafa'ah
Universitas Islam Negeri Sulthan Thaha Saifuddin Jambi
Religion Economics, Econometrics & Finance Education Social Sciences Other

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Pengaruh Kepercayaan Masyarakat dan Nilai Tukar Rupiah Terhadap Indeks Saham Syariah Indonesia Periode 2020-2025 Nurma Widia Syafa'ah; Bambang Kurniawan; Fitri Ana Siregar
JOURNAL OF SHARIA ECONOMICS Vol 6 No 1 (2024): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Al Hikmah Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/jse.v6i1.1411

Abstract

The movement of the Indonesia Sharia Stock Index (ISSI) is influenced by various factors, including public confidence and the rupiah exchange rate. This study aims to analyze the effect of public confidence, as measured by the Consumer Confidence Index (CCI), and the rupiah exchange rate on the Indonesia Sharia Stock Index (ISSI) during the 2020–2025 period. This research employed a quantitative approach with an associative research design. The study used 72 monthly secondary data observations obtained from the Indonesia Stock Exchange and Bank Indonesia. Data were analyzed using EViews 14 through stationarity tests, cointegration tests, classical assumption tests, and multiple linear regression analysis with the HAC (Newey-West) method. The results indicate that, partially, public confidence and the rupiah exchange rate have a positive and significant effect on the ISSI. Simultaneously, both variables also have a significant effect on the ISSI, with an Adjusted R² value of 0.545. These findings indicate that psychological factors and macroeconomic conditions play an important role in the movement of the Indonesia Sharia Stock Index
Co-Authors Bambang Kurniawan Siregar, Fitri Ana