ANALISIS PENGARUH VARIABEL MAKROEKONOMI TERHADAP STABILITAS PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII) PADA TAHUN 2010-2014

AHMAD SYAHRUL FAUZI, NIM. 12810028 (2016) ANALISIS PENGARUH VARIABEL MAKROEKONOMI TERHADAP STABILITAS PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII) PADA TAHUN 2010-2014. Skripsi thesis, UIN Sunan Kalijaga.

[img]
Preview
Text (ANALISIS PENGARUH VARIABEL MAKROEKONOMI TERHADAP STABILITAS PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII) PADA TAHUN 2010-2014)
12810028_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf - Published Version

Download (3MB) | Preview
[img] Text (ANALISIS PENGARUH VARIABEL MAKROEKONOMI TERHADAP STABILITAS PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII) PADA TAHUN 2010-2014)
12810028_BAB-II_sampai_SEBELUM-BAB-TERAKHIR.pdf - Published Version
Restricted to Registered users only

Download (2MB)

Abstract

The Islamic capital market was introduced in Indonesia in 2003, development of this industry is indicated by the increasing number of Islamic securities in each year as well as the establishment of a special index for issuers of sharia that is Jakarta Islamic Index (JII). Many people invest their money in the Islamic capital market, therefore it is needed a research about the stability and the potential investment in the Islamic capital market. The purpose of this research is to determine the stability of the companies listed in JII during 2010-2014. Furthermore this research aims to know the effect of macroeconomic variables on the stability of the companies in JII during 2010-2014. The Stability of the companies in JII during 2010-2014 is measured by using the Merton model method that estimates the value of probability default (PD). Panel data regression is also used to know the effect of macroeconomic variables on the PD of the companies in JII during 2010-2014. The objects of this research are 12 companies that had been consistently joined in Jakarta Islamic Index (JII) during 2010-2014. Macroeconomic variables that are used in this research are inflation, exchange rate and interest (BI rate), data used in this research is annual data from 2010 to 2014. Based on the result of the analysis by using the Merton model method, this research finds that the 12 companies in JII during 2010-2014 have good stability in each year. It can be seen from the average of PD that is decrease in each year. Based on the result of the panel data regression, the macroeconomic variables that influence on the PD value of the companies in JII during 2010-2014 are inflation and interest (BI rate) whereas the macroeconomic variable that does not influence to PD value of the companies is the exchange rate. The inflation influences to PD value of the companies in JII during 2010-2014 negatively and significantly, the inflation rate includes in the low inflation that stimulates the better economy. The Interest (BI rate) has a positive effect to the PD value of the companies because it will increase the capital gains in the form of interest and production costs. In addition, the exchange rate does not influence significantly the PD value of the companies in JII during 2010-2014, it is because the value of the fluctuation in exchange rate is low and there are hedging practices in international trade transactions. Keywords: Stability, Jakarta Islamic Index (JII), Merton, Probability Default (PD), Panel Data Regression, Macroeconomic Variable.

Item Type: Thesis (Skripsi)
Additional Information: Dr. IBNU QIZAM, S.E., M.Si., Ak., CA.
Uncontrolled Keywords: Stability, Jakarta Islamic Index (JII), Merton, Probability Default (PD), Panel Data Regression, Macroeconomic Variable.
Subjects: Ekonomi Islam
Divisions: Fakultas Ekonomi dan Bisnis Islam > Ekonomi Syariah (S1)
Depositing User: Sugeng Hariyanto, SIP (sugeng.hariyanto@uin-suka.ac.id)
Date Deposited: 28 Dec 2016 10:57
Last Modified: 28 Dec 2016 10:57
URI: http://digilib.uin-suka.ac.id/id/eprint/23277

Share this knowledge with your friends :

Actions (login required)

View Item View Item
Chat Kak Imum