Jurnal Ekonomi Syariah Pelita Bangsa
Vol. 10 No. 02 (2025): JESPB Edisi Oktober 2025

Analisis Determinan Volatilitas Saham Pada Jakarta Islamic Index (JII)

Farhadi Arifiansyah (Unknown)



Article Info

Publish Date
04 Dec 2025

Abstract

The purpose of this study is to analyze the effect of dividend policy, leverage, asset growth, price-earnings ratio, and inflation on stock price volatility in Jakarta Islamic Index (JII) companies for the 2021-2024 period. The quantitative descriptive-causal research method used purposive sampling with a population of 30 and a sample of 18 consistent JII stocks. Secondary data were analyzed using multiple linear regression (Stata 14) after classical assumption testing. The dependent variables were independent volatility: Dividends, DER, asset growth, PER, and inflation. The results of this study are dividends (β=0.000456; *p*=0.010) and PER (β=0.0122; *p*=0.009) increase volatility significantly, while Leverage (β=-0.059; *p*=0.827), asset growth (β=0.0027; *p*=0.826), and inflation (β=0.0053; *p*=0.982) are not significant with a limited explanatory power of the model R²=16.57% the rest is explained by other variables outside the study.

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Journal Info

Abbrev

jespb

Publisher

Subject

Religion Education

Description

Jurnal Ekonomi Syariah Pelita Bangsa is a peer review of national journals published by Sharia Economics Study Program, Faculty of Islamic Religion, University of Pelita Bangsa, Bekasi. Editors appreciately welcome all public especially academics, researchers, and educators to donate their ...