Muhammad Ghafur Wibowo
Program Magister Keuangan Syariah Fakultas Ekonomi dan Bisnis Islam Universitas Islam Negeri Sunan Kalijaga

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Journal : Jurnal Ekonomi Dan Bisnis

PENGARUH VARIABEL EKONOMI MAKRO TERHADAP INDEKS SAHAM SYARIAH INDONESIA (ISSI) PERIODE TAHUN 2014-2019 Ahmad Junaidi; Muhammad Ghafur Wibowo; Hasni Hasni
Jurnal Ekonomi Dan Bisnis Vol 24, No 1 (2021): JURNAL EKONOMI DAN BISNIS MARET 2021
Publisher : Fakultas Ekonomi Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/jebi.v24i1.1364

Abstract

The purpose of this research is to explain the influence of economical macro variable on the Indonesia Sharia Stock Index (ISSI). Applying a dynamic method e Autoregressive Distributed Lag (ARDL) the results of this research indicates that long-term inflation and moneysupply (M2) have a positive and significant impact on the Indonesia Sharia Stock Index (ISSI). Meanwhile the exchange rate (KURS) and the interest rate (BIRATE) in the long-term have a negative and significant influences on ISSI. The price of the world’s oil (WTI) has an insignificant correlation with ISSI in the long term.