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All Journal Jurnal Manajemen dan Organisasi Jurnal Siasat Bisnis Jurnal Keuangan dan Perbankan Kinerja Among Makarti Jurnal Manajemen dan Keuangan Jurnal Manajemen Teori dan Terapan MODUS-Jurnal Ekonomi dan Bisnis AFRE Accounting Financial Review Owner : Riset dan Jurnal Akuntansi
Linda Ariany Mahastanti
Universitas Kristen Satya Wacana
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

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Journal : Jurnal Keuangan dan Perbankan

 1 
Capital Aset Pricing Model (CAPM) Revisited: The Context of Sharia-based Stocks with the Barakah Risk Premium Variable Linda Ariany Mahastanti; Marwan Asri; Bernadus M. Purwanto; Eddy Junarsin
Jurnal Keuangan dan Perbankan Vol 25, No 2 (2021): April 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v25i2.5572

Abstract

The purpose of this study is to answer the question about the inconsistency of research results in the field of Islamic stock investment. This study uses literature for digging the uniqueness of Sharia stock investments which cannot be explained completely with a quantitative approach. In the last part of this research, we adjust the Capital Asset Pricing Model (CAPM) in the Sharia capital market based on a literature study. The classical finance theories such as CAPM need to adjust by incorporating the unique characteristics of faith-based investment products. The main difference between faith-based and conventional investment products lies in the presence of religious teachings that underlie the formation of these products. Consequently, investors employ not only the objective risk-and-return analysis to select investment choices, but also the subjective risk-and-return analysis based on Islamic teachings. Subjective gains (nonmonetary) are reflected by the barakah risk premium on which investors initially base their investment selection decisions between sharia-based and conventional stock investment. This research found a new variable called Barakah risk premium and Barakah return. This type of risk and return are very specific which is only found in sharia stock investments DOI : https://doi.org/10.26905/jkdp.v25i2.5572
Integration of Indonesian Capital Market and ASEAN Capital Market: A Study during the Covid-19 Pandemic Linda Ariany Mahastanti; Ursula Brigitta Anggun Dwiandaru Oktavia
Jurnal Keuangan dan Perbankan Vol 26, No 3 (2022): JULY 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i3.7813

Abstract

This research was conducted to examine the integration of the Indonesian capital market with the capital markets of other countries in ASEAN before and during the COVID-19 pandemic, so the results of this study are expected to provide an overview for investors in making investment decisions. Investment decision-making, especially in international diversification. The sample used in this study is the capital market index of Indonesia, Malaysia, Singapore, the Philippines, Thailand, and Vietnam. The analysis technique uses the Vector Error Correction Model (VECM). The analytical tool used is Eviews 11 software. The results show that there is proven integration between the Indonesian capital market and the capital markets of Malaysia, Singapore, the Philippines, Thailand, and Vietnam. In addition, this research also states that there is an increase in the integration of the Indonesian capital market with the capital markets that are members of the ASEAN Exchange, especially during the Covid-19 period.
Co-Authors Allia Ramadhani Putri Sasongko Astri Dian Utami Bernadus M. Purwanto Dewi Fitri Kusumawati Eddy Junarsin Emawati Natan Marwan Asri Mita Anggraini Setha Octatiasari Pratiwi Ursula Brigitta Anggun Dwiandaru Oktavia Yeterina Widi Nugrahanti