Arien Rosetika
Bogor Agricultural University

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THE ANALYSIS OF INTERNAL FACTORS AFFECTING THE LIQUIDITY OF SOVEREIGN SUKUK IN INDONESIA Arien Rosetika; Salahuddin El Ayyubi; Widyastutik Widyastutik
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 2 (2020): Februari-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20202pp234-253

Abstract

Indonesian sovereign Sukuk has lower liquidity than the foreign bond. Sukuk liquidity is measured by total return and trade volume in the secondary market from June 2015 until May 2017. This study aims to analyze the internal determinant factors of sovereign Sukuk liquidity in Indonesia. The method used in this study is Panel Data analysis. The variables used in this study are liquidity, outstanding, coupon rate, time to maturity and age. The study results show that outstanding is significantly positive as the determinant of liquidity of sovereign Sukuk in Indonesia. Variables of time to maturity and age are significantly negative as the determinant of liquidity of sovereign Sukuk in Indonesia. Meanwhile, the coupon rate variable is not significant as the determinant of liquidity of sovereign Sukuk in Indonesia. 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