%A NIM.: 19208012018 Avianto Nugroho
%O Pembimbing: Dr. Slamet Haryono, S.E., M.Si., Ak., CA
%T PENGARUH RASIO FUNDAMENTAL, INDIKATOR MAKRO
EKONOMI DAN COVID-19 TERHADAP RETURN SAHAM
JAKARTA ISLAMIC INDEX
%X This article examines fundamental ratios, macroeconomic indicators that are
described by inflation rates and GDP, as well as covid-19 on stock returns of
Islamic companies incorporated which is in the Jakarta Islamic Index (JII) as long
as the period before and during the covid-19 pandemic. This study uses secondary
data published by the Indonesia Stock Exchange. The data is in the form of the
company's fundamental financial ratios (ROE, DER, CR, PER, PBV) by adding the
Covid-19 level variable and macroeconomic indicators are represented by the
inflation rate (INF) and economic growth (GDP). It aims to determine its effect on
stock returns, starting in the first quarter of 2019 until the third quarter of 2020.
Moreover, this study uses a quantitative methodology of dynamic panel data and it
uses the approach of the Generalized Method of Moments (GMM). Therefore, the
results of statistical testing show that in general the independen variables
represented by financial ratios are only profitability ratios, liability ratios, and
company book values which have a significant effect on stock returns. On the other
hand, external conditions outside of financial ratios, namely inflation and covid-
19, which have a strong positive influence on stock returns. However, GDP does
not have a significant effect on company stock returns. Thus, it can be concluded
that during the research period the stock returns of companies incorporated in the
Jakarta Islamic Index were strongly influenced by external conditions in the form
of the occurrence of Covid-19. It affected macroeconomic conditions in the form of
the inflation rate created. In contrast, economic growth (GDP) had no significant
effect.
%K Rasio Fundamental, Indikator Makro ekonomi, Covid-19, Return
Saham
%D 2022
%I UIN SUNAN KALIJAGA YOGYAKARTA
%L digilib49914