ANALISIS HUBUNGAN COINCIDENT ECONOMIC, LEADING ECONOMIC DAN REGIONAL INDEX TERHADAP JAKARTA ISLAMIC INDEX

Mita Agustiani, - (2019) ANALISIS HUBUNGAN COINCIDENT ECONOMIC, LEADING ECONOMIC DAN REGIONAL INDEX TERHADAP JAKARTA ISLAMIC INDEX. S1 thesis, Universitas Pendidikan Indonesia.

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Official URL: http://repository.upi.edu

Abstract

Pasar Modal Syariah memiliki tingkat literasi dan inklusi yang sangat rendah dan salah satu instrumennya memiliki perkembangan yang fluktuatif setiap periodenya yaitu Jakarta Islamic Index (JII), hal ini menjadi bahasa menarik mengingat Pasar Modal Syariah memiliki peran yang cukup penting karena menjadi kontributor terbesar bagi aset industri keuangan syariah Indonesia. Maka dari itu, penelitian ini bertujuan untuk mengetahui bagaimana pengaruh dari indikator ekonomi. Leading Economic Indicator (LEI) yang terdiri atas Customer Price Index (CPI) dan nilai Kurs, Coincident Economic Indicator (CEI) yang terdiri atas Retail Sales dan Jumlah Uang Beredar (M2) dan yang terakhir Regional Index dimana penulis mengambil indeks saham pertama di dunia yakni Indeks Dow Jones Islamic market dan Indeks Dow Jones Industrial Average dengan Jakarta Islamic Index. Penelitian ini mengunakan analisis Vector Error Correction Model (VECM) dan data sekunder 60 periode dari Januari 2014 sampai Desember 2018. Hasil Penelitian ini menunjukkan bahwa Retail Sales, Dow Jones Islamic market dan Indeks Dow Jones Industrial Average tidak berpengaruh, Jumlah Uang Beredar (M2) dan kurs berpengaruh negatif, sedangkan Customer Price Index (CPI) berpengaruh positif. Implikasi penelitian ini yaitu perkembangan harga Jakarta Islamic Index (JII) akan dipengaruhi oleh variabel makro ekonomi. Dimana jumlah Uang Beredar (M2), Customer Price Index (CPI) dan kurs menjadi variabel yang memiliki pengaruh cukup tinggi. Sedangkan Retail Sales, Dow Jones Islamic Market (DJIM), Dow Jones Industrial Average (DJIA) memiliki pengaruh tapi tidak begitu kuat. Maka dari itu diperlukan kestabilan kondisi makro ekonomi, sehingga perkembangan harga saham Jakarta Islamic Index (JII) bergerak stabil dan naik.;--Sharia capital market has a literacy rate and very low inclusion and one instrument have a fluctuating every development at IE Jakarta Islamic Index (JII) it is becoming a language interesting given Sharia Capital Market have an important role because the biggest contributor for the assets into the Islamic finance industry Indonesia . Thus, this research it aims to find out how the influence of the from economic indicators. Leading Economic Indicator (LEI) composed of Customer Price Index (CPI) and the value of the exchange rate, the Coincident Economic Indicators (CEI) consisting of Retail Sales and money supply (M2) and the last Regional Index where authors take first stock index in the world i.e. Index Dow Jones Islamic market and index the Dow Jones Industrial Average with the Jakarta Islamic Index. This research analyses using Vector Error Correction Models (VECM) and secondary data 60 period from January 2014 to December 2018. The results of this study showed that Retail Sales, the Dow Jones Islamic market and the Dow Jones Industrial Average Index had no effect, Money supply (M2) and a negative exchange rate effect, while the Customer Price Index (CPI) a positive effect. The implications of this research, namely the development of the price of the Jakarta Islamic Index (JII) will be affected by the macro-economic variables. Where is the money supply (M2), Customer Price Index (CPI) and the exchange rate becomes variable which has influence is quite high. While the Retail Sales, the Dow Jones Islamic Market (DJIM), the Dow Jones Industrial Average (DJIA) has influence but not so strong. Therefore needed the stability condition of the macro economy, so the share price development of the Jakarta Islamic Index (JII) is stable and moving up.

Item Type: Thesis (S1)
Uncontrolled Keywords: JII, VECM, Coincident Economic Indicator, Leading Economic Indicator, Regional Index.
Subjects: B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc
H Social Sciences > HB Economic Theory
Divisions: Fakultas Pendidikan Ekonomi dan Bisnis > Ilmu Ekonomi dan Keuangan Islam
Depositing User: Mita Agustiani
Date Deposited: 05 Aug 2020 05:44
Last Modified: 05 Aug 2020 05:44
URI: http://repository.upi.edu/id/eprint/41264

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