What determines corporate sukuk issuance in Indonesia?

Abdul Qoyum (Faculty of Islamic Economics and Business State Islamic Unversity Sunan Kalijaga, Yogyakarta)
Rizka Hendriyani (Faculty of Islamic Economics and Business State Islamic Unversity Sunan Kalijaga, Yogyakarta)
Siti Nur Azizah (Faculty of Islamic Economics and Business State Islamic Unversity Sunan Kalijaga, Yogyakarta)
Prasodjo Prasodjo (Faculty of Islamic Economics and Business State Islamic Unversity Sunan Kalijaga, Yogyakarta)

Proceeding of Conference on Islamic Management, Accounting, and Economics
CIMAE Volume 2, 2019

We emporically investigates the determinant of corporate sukuk issuance in Indonesia Islamic capital market. For doing so, we include Indonesia Corporate Sukuk Index (ICSIX),Capital Market Index (IHSG),Company Rating, and Financial Distress as the independent variable of this study. By studying 27 corporate sukuk issued by 17 companies between 2010 and 2018 this study finds that ICSIX and financial distress have a positive significant effect on corporate sukuk issuance. While the rest of variables, IHSG and company rating have a negative significant effect on corporate sukuk issuance.