WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA?
ABSTRACT - This study aims to empirically explore and analyze the effects of profitability, liquidity, solvency, and firm size on the rate of returns of Islamic stocks in Indonesia. A total of 30 companies registered in the Jakarta Islamic Index were selected as samples of the study using purposive...
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| Format: | Article |
| Language: | Arabic |
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Ar-Raniry State Islamic University of Aceh
2020-06-01
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| Series: | Share: Jurnal Ekonomi dan Keuangan Islam |
| Subjects: | |
| Online Access: | https://jurnal.ar-raniry.ac.id/index.php/Share/article/view/6259 |
| _version_ | 1823926520699158528 |
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| author | Rina Novi Yani Muhammad Arfan M. Shabri Abd. Majid |
| author_facet | Rina Novi Yani Muhammad Arfan M. Shabri Abd. Majid |
| author_sort | Rina Novi Yani |
| collection | DOAJ |
| description | ABSTRACT - This study aims to empirically explore and analyze the effects of profitability, liquidity, solvency, and firm size on the rate of returns of Islamic stocks in Indonesia. A total of 30 companies registered in the Jakarta Islamic Index were selected as samples of the study using purposive sampling techniques during the 2013-2017 period and estimated using the panel model of Generalized Least Square (GLS). This study found evidence of a positive and significant effect of profitability on the Islamic stock returns, while liquidity, solvency, and company size were documented to insignificant in affecting the Islamic stock returns. The results of this study imply that to gain a maximum rate of returns, investors should pay attention to the profitability gained by the companies listed on the Islamic stock market.
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ABSTRAK – Apa yang Menentukan Tingkat Pengembalian Saham Syariah di Indonesia? Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh profitabilitas, likuiditas, solvabilitas, dan ukuran perusahaan terhadap tingkat pengembalian saham syariah di Indonesia. Sebanyak 30 perusahaan yang terdaftar di Jakarta Islamic Index dipilih sebagai sampel dalam penelitian ini dengan menggunakan teknik purposive sampling selama periode 2013-2017 dan diestimasi dengan model panel Generalized Least Square. Penelitian ini menemukan bukti bahwa profitabilitas berpengaruh positif dan signifikan terhadap tingkat pengembalian saham syariah, sedangkan likuiditas, solvabilitas, dan ukuran perusahaan tidak berpengaruh signifikan terhadap tingkat pengembalian saham syariah. Hasil penelitian ini menunjukkan bahwa untuk memaksimumkan tingkat pengembalian, investor harus memperhatikan keuntungan yang diperolehi perusahaan yang terdaftar di pasar saham syariah. |
| first_indexed | 2024-12-16T20:25:28Z |
| format | Article |
| id | doaj.art-c8aa259659064a0895248c76ba027981 |
| institution | Directory Open Access Journal |
| issn | 2089-6239 2549-0648 |
| language | Arabic |
| last_indexed | 2024-12-16T20:25:28Z |
| publishDate | 2020-06-01 |
| publisher | Ar-Raniry State Islamic University of Aceh |
| record_format | Article |
| series | Share: Jurnal Ekonomi dan Keuangan Islam |
| spelling | doaj.art-c8aa259659064a0895248c76ba0279812022-12-21T22:17:39ZaraAr-Raniry State Islamic University of AcehShare: Jurnal Ekonomi dan Keuangan Islam2089-62392549-06482020-06-019110.22373/share.v9i1.62594104WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA?Rina Novi Yani0Muhammad Arfan1M. Shabri Abd. Majid2Master of Accountancy, Faculty of Economics and Business, Universitas Syiah Kuala, and Sekolah Tinggi Ilmu Administrasi (STIA) Pelita Nusantara, Nagan Raya, Aceh, Indonesia.Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia.Faculty of Economics and Business, Universitas Syiah Kuala, Indonesia.ABSTRACT - This study aims to empirically explore and analyze the effects of profitability, liquidity, solvency, and firm size on the rate of returns of Islamic stocks in Indonesia. A total of 30 companies registered in the Jakarta Islamic Index were selected as samples of the study using purposive sampling techniques during the 2013-2017 period and estimated using the panel model of Generalized Least Square (GLS). This study found evidence of a positive and significant effect of profitability on the Islamic stock returns, while liquidity, solvency, and company size were documented to insignificant in affecting the Islamic stock returns. The results of this study imply that to gain a maximum rate of returns, investors should pay attention to the profitability gained by the companies listed on the Islamic stock market. ================================================================================================== ABSTRAK – Apa yang Menentukan Tingkat Pengembalian Saham Syariah di Indonesia? Penelitian ini bertujuan untuk menguji dan menganalisis pengaruh profitabilitas, likuiditas, solvabilitas, dan ukuran perusahaan terhadap tingkat pengembalian saham syariah di Indonesia. Sebanyak 30 perusahaan yang terdaftar di Jakarta Islamic Index dipilih sebagai sampel dalam penelitian ini dengan menggunakan teknik purposive sampling selama periode 2013-2017 dan diestimasi dengan model panel Generalized Least Square. Penelitian ini menemukan bukti bahwa profitabilitas berpengaruh positif dan signifikan terhadap tingkat pengembalian saham syariah, sedangkan likuiditas, solvabilitas, dan ukuran perusahaan tidak berpengaruh signifikan terhadap tingkat pengembalian saham syariah. Hasil penelitian ini menunjukkan bahwa untuk memaksimumkan tingkat pengembalian, investor harus memperhatikan keuntungan yang diperolehi perusahaan yang terdaftar di pasar saham syariah.https://jurnal.ar-raniry.ac.id/index.php/Share/article/view/6259company size, investment diversification, islamic stock returns, liquidity, profitability, solvency. |
| spellingShingle | Rina Novi Yani Muhammad Arfan M. Shabri Abd. Majid WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? Share: Jurnal Ekonomi dan Keuangan Islam company size, investment diversification, islamic stock returns, liquidity, profitability, solvency. |
| title | WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? |
| title_full | WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? |
| title_fullStr | WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? |
| title_full_unstemmed | WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? |
| title_short | WHAT DETERMINES ISLAMIC STOCK RETURNS IN INDONESIA? |
| title_sort | what determines islamic stock returns in indonesia |
| topic | company size, investment diversification, islamic stock returns, liquidity, profitability, solvency. |
| url | https://jurnal.ar-raniry.ac.id/index.php/Share/article/view/6259 |
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