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All Journal Ekonomi Bisnis UG Journal Jurnal Akuntansi dan Manajemen Bisnis (JAMAN) Jurnal Ilmiah Multidisiplin (JUKIM) Jurnal Pengabdian Kepada Masyarakat Darma Saskara
Stevani Adinda Nurul Huda
Universitas Gunadarma
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Journal : Ekonomi Bisnis

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COMPARISON OF BEHAVIOR BETWEEN ISLAMIC AND COMPOSITE INDEX IN INDONESIA AND MALAYSIA Stevani Adinda Nurul Huda
Jurnal Ilmiah Ekonomi Bisnis Vol 20, No 3 (2015)
Publisher : Universitas Gunadarma

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Abstract

This study aims to analyze whether there is difference of behavior between Islamic index (Jakarta Islamic Index (JII) and Kuala Lumpur Shariah Index (KLSI)) as well as conventional index (Jakarta Composite Index (JCI) and Kuala Lumpur Composite Index (KLCI)) in Indonesia and Malaysia. This study use Vector Auto regression (VAR) or Vector Correction Model (VECM) to respectively as certain if co integration exists. Based on the results, it shows that there is no difference of behavior between Islamic index and conventional index in Indonesia and Malaysia. It suggested that both countries make some changes in the Islamic index structure to differentiate from the conventional. For the investors should pay more attention to the inflation rate rather than the other macro economic variables, because inflation rate consistently determine these indexes. Keywords: Investment, Sharia capital market, conventional capital market, macroeconomy
Co-Authors Een Endah Permata Hati Mufid Suryani Naufal Aqil Helmi Nur Azifah Riskayanto Riskayanto Shinta Teviningrum Siti Aisyah Witari Aryunani Zahrani Fendiana