Sugema, Iman
Fakultas Ekonomi Dan Manajemen, Institut Pertanian Bogor

Published : 18 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search
Journal : Al-Muzara'ah

Analisis Perbandingan Excess Return Jakarta Islamic Index dan Indeks Harga Saham Gabungan Galishia Putry; Iman Sugema; Deni Lubis
AL-MUZARA'AH Vol. 2 No. 2 (2014): AL-MUZARA'AH (December 2014)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (541.774 KB) | DOI: 10.29244/jam.2.2.121-134

Abstract

Indonesia Stock Exchange statistics show that Islamic stock trading reached a value of around 59 trillion rupiahs. The excalation index of JII (Jakarta Islamic Index) is not follow by an increase in market capitalization of stocks listed on the JII. This is the question for investor who want to know how it compares to the performance of Jakarta Composite Index (JCI). This study analyzes the excess return that represents the return expected by an investor after investing in certain assets using descriptive analysis and Ordinary least square (OLS) regression of Capital Asset Pricing Model (CAPM). The descriptive analysis showed that in the same risk-free rate, investors who invest in stocks listed in JII can expect a higher return than the return JCI, while regression analysis shows investors do not expect the JII’s excess return to be different from JCI’s. This suggests that the selection criteria used by Bapepam LK (now OJK) and Indonesia Stock exchange does not affect the performance of return JII.
Dampak Kondisi Makroekonomi terhadap Deposito Perbankan Syariah di Indonesia Zaki Abdullah; Iman Sugema; Asep Nurhalim
AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (626.537 KB) | DOI: 10.29244/jam.6.1.29-39

Abstract

Changes in macroeconomic conditions have an impact towards financial industry, particularly in the banking industry. This research aims to look at the impact of global financial crisis and macreconomic variables towards the total deposits of Islamic banking in Indonesia with the VECM method. The period of this study using monthly data from January 2006 until December 2016. The results showed that the global financial crisis has no effect towards the total deposits of Islamic banking in Indonesia. Then, based on the analysis of Impulse Response Function (IRF), the response of total deposits of Islamic banking in Indonesia towards inflation, equivalent rate and lending rate is positive. While the shocks level of conventional banking interest rate and industrial growth is negatively responded by total deposits in Islamic banking. The Forecast Error Variance Decomposition (FEVD) analysis results showed that equivalent rate and interest rate offered by each banking system give most contributed among other variables.