Sofwan Sidik
UIN SUNAN KALIJAGA YOGYAKARTA

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

Determinants of Profitability of Islamic Stocks: The Case of Jakarta Islamic Index (JII) Sofwan Sidik; Muhammad Wakhid Musthofa
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 15, No 2 (2023)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v15i2.30894

Abstract

Abstract. This study aims to analyze the determinants of profitability of Islamic stocks using the case of Jakarta Islamic Index member companies in 2019-2023. The profitability as reflected in Rate of Return on Assets (ROA) of Jakarta Islamic Index (JII) member companies constantly fluctuates but, on average, decreases in 2023. It analyzes the influence of Total Asset Turnover (TATO), Net Profit Margin (NPM), Current Ratio (CR), and Debt Ratio (DR) on ROA. Secondary data obtained from the Indonesian Stock Exchange were analysed using the multiple linear regression method. It found that simultaneously, the independent variables of TATO, NPM, CR, and DR significantly affected the. Meanwhile, the TATO and NPM variables partially have a significant effect on ROA, while the CR and DR variables have no effect. To increase profitability, companies should maximize TATO and NPM while achieving asset efficiency, control costs, and manage debt wisely.  Abstrak. Penelitian ini bertujuan untuk menganalisis determinan profitabilitas saham syariah menggunakan studi kasus perusahaan anggota Jakarta Islamic Index tahun 2019-2023. Profitabilitas yang tercermin pada Rate of Return on Assets (ROA) perusahaan anggota Jakarta Islamic Index (JII) selalu berfluktuasi namun rata-rata mengalami penurunan pada 2023. Studi ini menganalisis pengaruh Total Asset Turnover (TATO), Net Profit Margin (NPM) ), Current Ratio (CR), dan Debt Ratio (DR) terhadap ROA. Data sekunder yang diperoleh dari Bursa Efek Indonesia dianalisis dengan menggunakan metode regresi linier berganda. Temuan menunjukkan bahwa secara simultan variabel independen TATO, NPM, CR, dan DR berpengaruh secara signifikan. Sedangkan variabel TATO dan NPM secara parsial berpengaruh signifikan terhadap ROA, sedangkan variabel CR dan DR tidak berpengaruh. Untuk meningkatkan profitabilitas, perusahaan sebaiknya memaksimalkan TATO dan NPM dengan tetap melakukan efisiensi aset, mengendalikan biaya, dan mengelola utang dengan bijak.