PERBANDINGAN KINERJA INVESTASI SYARIAH DAN KONVENSIONAL STUDI PADA JAKARTA ISLAMIC INDEX (JII) DAN INDEKS LQ45

Mamduh M. Hanafi, - and Syafiq M. Hanafi, - (2012) PERBANDINGAN KINERJA INVESTASI SYARIAH DAN KONVENSIONAL STUDI PADA JAKARTA ISLAMIC INDEX (JII) DAN INDEKS LQ45. EKBISI Jurnal Ekonomi dan Bisnis Islam, VII (1). pp. 16-27. ISSN 1907-9109

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Abstract

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.

Item Type: Article
Uncontrolled Keywords: ethical investment, syariah investment, Sharpe Ratio, Treynor Ratio, Jensen alpha; Keuangan Islam
Subjects: Bank dan Perbankan > Investasi
Keuangan Islam
Divisions: Jurnal > 10. Ekbisi
Depositing User: Dra. Khusnul Khotimah, SS, M.IP -
Date Deposited: 12 Jul 2022 08:36
Last Modified: 12 Jul 2022 08:36
URI: http://digilib.uin-suka.ac.id/id/eprint/51866

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