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Does Investor Sentiment Affect Islamic Stock Prices? Evidence From Indonesia Farah Amalia; Nindi Riyana Saputri
Jurnal REKOMEN (Riset Ekonomi Manajemen) Vol 5, No 2 (2022)
Publisher : Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rn.v5i2.5609

Abstract

The Islamic finance industry in Indonesia has grown rapidly in the last decade, one of which is marked by the number of sharia stocks. Sharia stocks, based on the underlying principle, prohibit the involvement of investor sentiment which is often used as a consideration in investment decisions because there are elements of tadlees in it. This study examines the influence of investor sentiment on islamic stock prices index. This study aims to analyze whether Islamic stock price indices are influenced by investor sentiment. The representation of Islamic stock price indices are Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). This study utilizes ARCH/GARCH analysis to determine whether there is an influence of investor sentiment on Islamic stock prices. The statistical tool used is e-views 12.0 program. The research findings stated that investor sentiment influences Jakarta Islamic Index (JII) but doesnt influence Indonesia Sharia Stock Index (ISSI). The difference in the results between the two Islamic stock indices can be explained by the different constituents and criteria for selecting Islamic stocks
The Influence of Corporate Governance on Companies Profitability with Capital Structure as Intervening Auwal Salisu; Nindi Riyana Saputri
International Research of Economic and Management Education Vol 1, No 1 (2021)
Publisher : Sekolah Tinggi Ekonomi dan Bisnis Islam Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (454.433 KB)

Abstract

The study's goal is to examine if the structure, process, or principle has a role in corporate governance in terms of increasing profitability. This research use quantitative methodologies in conjunction with descriptive data analysis. Non-random sampling was used to determine the research sample. The study included a total population of 469 firms, with 18 organizations being sampled each year in line with the study. Secondary data on ROA, corporate capital structure, board size, board independence, and audit committee, as well as company financial reports (annual reports) in the form of audit repute and ownership concentration, was accessible through Bloomberg. The first equation is the relationship between capital structure and company profitability, and it is concluded that there is no relationship between board size and ownership concentration on the capital structure of the company, but an independent board, audit committee, and reputation audit show the opposite results. The second equation investigates the relationship between corporate governance and capital structure and profitability, concluding that there is a link between board independence, audit reputation, ownership concentration, and capital structure and company profitability, but no link between board size and audit committee. According to the results of the mediation test (using the Sobel test), the capital structure acts as an intermediary variable between board independence and audit committee on profitability, but it has no influence on board size, audit committee, or ownership concentration on profitability.