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Journal : AL-ARBAH: Journal of Islamic Finance and Banking

Respons Of Islamic Stock Markets To Monetary Policy Empirical Evidence from Indonesia Rasyidin, Muhammad; Sulong, Zunaidah
AL-ARBAH: Journal of Islamic Finance and Banking Vol 1, No 1 (2019)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.v1i1.4437

Abstract

AbstractPurpose - The impact of stock market and capital formation on economic growth in Indonesia for the period of January 2015 – May 2019. This paper examines a long-run equilibrium relation between stock market, capital formation and economic growth and other control variables.Method - This study uses autoregressive distributed lag (ARDL) model.Result - Findings revealed that none of the models was stationary at level but were all stationary at first difference. There is not a short run significant relationship between stock market, capital formation and economic growth in Indonesia. In the long run, capital formation has a significant positive association on economic growth and a negative non-significant relationship between stock market and economic growth in Indonesia.Implication - This research is useful to know the response of Sharia market to monetary policy instruments in Indonesia so that the Sharia stock market strategy is potentially developing in the future to encourage the achievement of characteristics such as An alternative source of financing and investment for economic actors and able to facilitate risk mitigation needs for market participants and able to drive the efficiency of transactions in the market through the improvement of the quality of stock market infrastructure Sharia.  Originality - The update of this research is response of Sharia stock market response to monetary policy instruments in Indonesia that are researched using ARDL models.
The Influence Of Company Size, Liquidity, Profitability, And Leverage On Islamic Social Report Disclosure rachman, Dicky; Afendi, Arif; Wahab, Wahab; Rasyidin, Muhammad
AL-ARBAH: Journal of Islamic Finance and Banking Vol 5, No 2 (2023)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2023.5.2.18001

Abstract

Purpose - Determine the influence of company size, liquidity, profitability and leverage on Islamic Social Reporting (ISR) disclosure in companies listed on the Jakarta Islamic Index (JII) for the 2017-2021 period.Method - This study uses a quantitative approach using secondary data. The research sample was selected through purposive sampling method and obtained 10 companies registered in the Jakarta Islamic index.Result - Return on assets has a negative and non-significant impact on the Islamic banks share price in the stock exchanges, the return on equity and price/earnings ratio have a non-significant positive impact on the banks share price, while there is a negative and significant impact between earnings per Share and the banks share price index.Implication - This research becomes information and assessment for companies listed on the JII because information-rich social responsibility reports show the company's commitment to be accepted.Originality - Research on ISR disclosure is still rarely researched, the use of companies listed on the JII is because previous research mostly discussed Islamic banks, while there are still many companies other than Islamic banks. The JII was chosen as the research object because the stock index on JII meets the criteria for the sharia system in the sharia capital market so that it gets attention for Islamic Social Reporting disclosures.