%A NIM. 15830014 DIKO MANDALA
%O SUNARSIH, SE, M.Si
%T PENGARUH NILAI TUKAR, INFLASI, SUKU BUNGA DAN INDEKS DOW JONES TERHADAP JAKARTA ISLAMIC INDEX (PERIODE TAHUN 2015-2018)
%X ABSTRACT
The capital market in Indonesia is increasingly growing with the presence of Islamic stocks which are able to become an investment solution based on Islamic regulations, including free from gharar, maysir and usury. Even though the growth of sharia shares in Indonesia cannot be said to be as good as conventional shares. The purpose of this study was to determine how the influence of Exchange Rates, Inflation, Interest Rates and the Dow Jones Index Against the Jakarta Islamic Index. This research is a study with secondary data in the form of time series data from January 2015 to December 2018 with multiple linear analysis tools and using the Error Correction Models (ECM) method with Eviews 9 calculation tool.
The results showed that in the long term and short term all variables significantly influence the Jakarta Islamic Index together with the contribution of adjusted R2 69.29% and 29.87%, partially only the exchange rate and interest rates have a significant negative effect on JII. While inflation and the Dow Jones index did not affect the Jakarta Islamic Index.
Keywords: Jakarta Islamic Index, Exchange Rates, Inflation, Interest Rates, Dow Jones Index and Model ECM.
ABSTRAK
Pasar modal di Indonesia semakin tahun semakin berkembang dengan hadirnya saham syariah yang mampu menjadi satu solusi investasi yang berlandaskan ketentuan-ketentuan syariah antara lain terbebas dari gharar, maysir dan riba. Meskipun pertumbuhan saham syari‟ah di Indonesia belum dapat dikatakan sebaik saham konvensional. Tujuan penelitian ini untuk mengetahui bagaimana pengaruh Nilai Tukar, Inflasi, Suku Bunga dan Indeks Dow Jones Terhadap Jakarta Islamic Index. Penelitian ini merupakan penelitian dengan data sekunder berbentuk data deret waktu (time series) dari Januari 2015 sampai Desember 2018 dengan alat analisis linier berganda dan menggunakan metode Error Corection Models (ECM) dengan alat Eviews 9.
Hasil penelitian menunjukkan bahwa dalam jangka panjang maupun jangka pendek seluruh variabel berpengaruh signifikan terhadap Jakarta Islamic Index secara bersama-sama dengan kontribusi nilai adjusted R2 69,29% dan 29,87%, secara parsial hanya variabel nilai tukar dan suku bunga yang berpengaruh negatif signifikan terhadap JII. Sementara variabel inflasi dan indek dow jones tidak berpengaruh terhadap Jakarta Islamic Index.
Kata Kunci: Jakarta Islamic Index, Nilai Tukar, Inflasi, Suku Bunga, Indeks Dow Jones dan Model ECM
%K Jakarta Islamic Index, Exchange Rates, Inflation, Interest Rates, Dow Jones Index and Model ECM, Jakarta Islamic Index, Nilai Tukar, Inflasi, Suku Bunga, Indeks Dow Jones dan Model ECM
%D 2019
%I UIN Sunan Kalijaga
%L digilib37551