CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE
Vol. 1 No. 4 (2022): JULY 2022

EFFECT OF BANK INDONESIA SHARIA CERTIFICATES, DOMESTIC INTEREST RATES AND RUPIAH EXCHANGE RATES ON INDONESIA SHARIA STOCK INDEX (ISSI)

Fidian Nisa (Universitas Pamulang)
Khoirunnisa Azzahra (Universitas Pamulang)



Article Info

Publish Date
26 Jul 2022

Abstract

This study aims to determine the effect of Bank Indonesia Syariah Certificates (SBIS), Domestic Interest Rates and Rupiah Exchange Rates on the Indonesian Syariah Stock Index (ISSI) during the 2016 – 2020 period, which obtained as many as 60 data in this study. The sampling technique used in this study is non-probability sampling, namely by using saturated sampling, where all members of the population are used as samples. The method used in this research is descriptive statistical analysis, classical assumption test, multiple linear regression analysis and hypothesis testing by using the EViews version 10 for Windows. The results showed that the data met classical assumptions such as normal distribution data, there was no multicollinearity, no heteroscedasticity and no autocorrelation. From the results of the partial hypothesis, Bank Indonesia Syariah Certificates (SBIS) and Domestic Interest Rates have an influence on the Indonesian Syariah Stock Index (ISSI). Meanwhile, the Rupiah Exchange Rate has a negative effect on the Indonesian Sharia Stock Index (ISSI). Based on the results of the hypothesis simultaneously shows that Bank Indonesia Syariah Certificates (SBIS), Domestic Interest Rates and Rupiah Exchange Rates have an influence on the Indonesian Syariah Stock Index (ISSI).

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Journal Info

Abbrev

CASHFLOW

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE main objectives is to establish an effective channel of communication between stakeholders including academic and research institution, businesses, governments and communities. It also aims to promote and disseminate the ...