%A - Mamduh M. Hanafi
%A - Syafiq M. Hanafi
%J EKBISI Jurnal Ekonomi dan Bisnis Islam
%T PERBANDINGAN KINERJA INVESTASI SYARIAH DAN KONVENSIONAL STUDI PADA JAKARTA ISLAMIC INDEX (JII) DAN INDEKS LQ45
%X This paper investigates performance of Syariah Investment and Conventional
Investment. Specifically, we use Jakarta Islamic Index (JII) to represent Syariah Investmen, and
LQ45 index to represent Conventional Investment. We use three risk adjusted performance
measures: Sharpe ratio, Treynor ratio, and Jensen alpha. Overall, we find that JII does not seem
to underperform LQ45. This result suggests that Syariah Investment does not necessarily result
in poor performance. In fact, Syariah Investment may accomplish Syariah Objectives while
maintains economic objective. Future research may focus on better methodology, especially to
assure proper comparison between Syariah and Conventional Investments. We notice that
almost 86% of JII stocks are also listed in LQ45.
%N 1
%K ethical investment, syariah investment, Sharpe Ratio, Treynor Ratio, Jensen alpha; Keuangan Islam
%P 16-27
%V VII
%D 2012
%I Jurusan Keuangan Islam, Fakultas Syariah dan Hukum UIN Sunan Kalijaga Yogyakarta
%L digilib51866