Journal Informatic, Education and Management (JIEM)
Vol 8 No 2 (2026): AUGUST

THE INFLUENCE OF THE IHSG, BI RATE, AND ECONOMIC GROWTH ON THE OUTSTANDING VALUE OF CORPORATE SUKUK IN INDONESIA

Nopijal Rizki Rahman (Universitas Islam Negeri Ar- Raniry Banda Aceh)
Hafas Furqani (Universitas Islam Negeri Ar- Raniry Banda Aceh)
Khirul Amri (Universitas Islam Negeri Ar- Raniry Banda Aceh)



Article Info

Publish Date
25 Jul 2026

Abstract

This study aims to analyze the effects of the Composite Stock Price Index (IHSG), the BI Rate, and economic growth on the outstanding value of corporate sukuk in Indonesia. The study employs a quantitative approach using multiple linear regression analysis (Ordinary Least Squares) applied to secondary data obtained from official publications of relevant authorities during the research period. All variables are transformed into logarithmic form to allow the regression coefficients to be interpreted as elasticities. The results show that, partially, the Composite Stock Price Index (IHSG) has a positive and significant effect on the outstanding value of corporate sukuk, with a coefficient of 3.940 and a probability value of 0.000, indicating that a 1 percent increase in IHSG increases the outstanding value of corporate sukuk by 3.94 percent. The BI Rate does not have a significant effect, with a probability value of 0.405. Meanwhile, economic growth has a negative and significant effect, with a coefficient of −0.096 and a probability value of 0.000. Simultaneously, the three variables significantly affect the outstanding value of corporate sukuk, with an R-squared value of 0.735.

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Journal Info

Abbrev

jiem

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Education Languange, Linguistic, Communication & Media Other

Description

Perkembangan ilmu pengetahuan terkait dengan teknologi, informasi dan komunikasi baik secara teoritis maupun empiris terbukti sudah memberikan dampak positif bagi berbagai sisi kehidupan masyarakat. Perkembangan ilmu Bidang Teknologi Informasi Dan Komunikasi sudah banyak memberikan manfaat bagi ...