Afendi, A. (2017). Pengaruh Variabel Makro Ekonomi Terhadap Indeks Saham di Jakarta Islamic Index (JII) (Periode 2012-2016). Manajemen Dan Bisnis, 13(2), 48–72.
Aghekyan-Simonian, M., Forsythe, S., Kwom, W. S., & Chattaraman, V. (2012). Journal of Retailing and Consumer Services The role of product brand image and Online Store Image On Perceived Risks and Online Purchase Intentions for Apparel. Journal of Retailing and Consumer Services, 19, 325–331. https://doi.org/10.1016/j.jretconser.2012.03.006
Andriyani, I., & Armeren, C. (2016). Pengaruh Suku Bunga, Inflasi, Nilai Buku Terhadap Harga Saham Perusahaan Indeks LQ45 yang Terdaftar di Bursa Efek Indonesia (BEI). Jurnal Ilmiah Orasi Bisnis, 15, 44–64.
Ardana, Y. (2016). Pengaruh Variabel Makroekonomi Terhadap Indeks Saham Syariah di Indonesia: Model ECM. Jurnal Bisnis Dan Manajemen, 6(1), 17–30. https://doi.org/10.15408/ess.v6i1.3118
Bala, U., & Chin, L. (2017). Oil Price, Exchange Rate and Disaggregate Consumer Prices: Causality, Impulse Response, and Variance Decomposition. International Journal of Commerce and Management, 5(6), 37–59.
BenMabrouk, H. (2018). Cross Herding Behavior Between The Stock Market and The Crude Oil Market During Financial Distress: Evidence From The New York stock Exchange.
Cahyaningdyah, D., & Ressany, Y. D. (2012). Pengaruh Kebijakan Manajemen Keuangan Terhadap Nilai Perusahaan. Jurnal Dinamika Manajemen, 3(1), 20–28. https://doi.org/10.15294/jdm.v3i1.2456
Chakimatuzzahroh, & Witiastuti, R. S. (2018). Pull Factor And Push Factor Influences On The Volatility Of Foreign Investment Flows In Indonesian Capital Market. Management Analysis Journal, 7(2), 231–243.
Eldomiaty, T., Saeed, Y., Hammam, R., & Aboulsoud, S. (2020). The Associations Between Stock Prices, Inflation Rates, Interest Rates are Still Persistent Empirical Evidence from Stock Duration Model. Journal of Economics, Finance and Administrative Science, 25(49), 149–161. https://doi.org/10.1108/JEFAS-10-2018-0105
Gumilang, R. C., Hidayat, R. R., & NP, M. G. W. E. (2014). Pengaruh Variabel Makro Ekonomi, Harga Emas dan Harga Minyak Dunia terhadap Indeks Harga Saham Gabungan (Studi pada Bursa Efek Indonesia Periode 2009-2013). Jurnal Administrasi Bisnis (JAB)|Vol., 14(2), 1–9.
Heryanto. (2016). Analisis Pengaruh Tingkat Inflasi, Nilai Kurs, Harga Emas Dunia Terhadap Indeks Saham LQ45 di Bursa Efek Indonesia Periode Tahun 2011-2014. FinAcc, 1(1), 148–160.
Ibrahim, M., & Musah, A. (2014). An Econometric Analysis of the Impact of Macroeconomic Fundamentals on Stock Market Returns in Ghana. 6(2), 47–72. https://doi.org/10.5296/rae.v6i2.5146
Insiyah, J. (2017). Pengaruh Suku Bunga (BI Rate), Harga Emas Dunia, Tingkat Inflasi, Jumlah Uang Beredar (M2) dan Harga Minyak Dunia terhadap Indek Harga Saham Jakarta Islamic Index (JII) di Bursa Efek Indonesia (Periode Januari 2008- Desember 2015).
Kewal, S. S. (2012). Pengaruh Inflasi, Suku Bunga, Kurs, dan Pertumbuhan PDB terhadap Indeks Harga Saham Gabungan. Jurnal Economia, 8(1), 53–64.
Khai, H. V., Sang, L. M., & Nguyet, P. T. A. (2017). The Impact of World Crude Oil Prices on The Vietnamese Stock Market. I(1), 106–115.
Khan, Mustaque, M., Yousuf, & Sadek, A. (2013). Macroeconomic Forces and Stock Prices : Evidence from the Bangladesh Stock Market.
Khoiruddin, M., & Faizati, E. R. (2014). Reaksi Pasar Terhadap Dividend Announcement Perusahaan Yang Sahamnya Masuk Daftar Efek Syariah. Jurnal Dinamika Manajemen, 5(2), 209–219. https://doi.org/10.15294/jdm.v5i2.3662
Kisten, T. (2019). Macroeconomic implications of uncertainty in South Africa. South African Journal of Economic and Management Sciences, 1–15.
Krisna, A. A. G. A., & Wirawati, N. G. P. (2013). Pengaruh Inflasi, Nilai Tukar Rupiah, Suku Bunga SBI pada Indeks Harga Saham Gabungan di BEI. E-Jurnal Akuntansi Universitas Udayana, 3(2), 421–435.
Kumar, K. K., & Sahu, B. (2017). Dynamic Linkages Between Macroeconomic Factors and Islamic Stock Indices in a Non-Islamic Country India. The Journal of Developing Areas, 51(1), 193–205.
Listriono, K., & Nuraina, E. (2015). Peranan Inflasi, BI Rate, Kurs Dollar (USD/IDR) dalam Mempengaruhi Indeks Harga Saham Gabungan. Jurnal Dinamika Manajemen, 6(1), 73–83.
Maharditya, M. A., Layyinaturrobaniyah, & Anwar, M. (2018). Implication of Macroeconomic Factors to Stock Returns of Indonesian Property and Real Estate Companies. Jurnal Dinamika Manajemen, 9(1), 100–113. https://doi.org/10.15294/jdm.v9i1.14656
Mashudi, D., Ibrahim, M. A., & Fadilah, I. (2019). The Effect of Macroeconomic Variables on Sharia Stock Prices in the Jakarta Islamic Index. 409, 324–327.
Metadjer, W., & Boulila, H. (2018). Causal Relationship Between Islamic Bonds , Oil Price and Precious Metals : Evidence From Asia Pacific. Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics), 10(2), 285–298.
Mishkin, F. (2008). Ekonomi Uang Perbankan Pasar Keuangan Buku 2 (Edisi 8). Jakarta, Selemba Empat.
Mushair, H., Murugananthi, & Rohini. (2020). A Study On Effect Of Macroeconomic factors On Stock Market In India. UGC Care Listed Journal, 68(2), 9–18.
Muttaqin, N. I. (2017). Pengaruh Kurs, Infasi, Jumlah Uang Beredar, Suku Bunga Bank Indonesia, dan IHSG terhadap Inde Harga Saham Syariah di Jakarta Islamic Index (JII) Periode Januari 2011-Desembe 2016.
Nasser, F. A. M., Rosid, C. M. A. C., & Baharuddin, N. S. (2017). Relation between Macroeconomic Variables and ASEAN Stock Index. Terengganu International Finance and Economics Journal, 5(1), 7–13.
Nazir, A. (2016). Pasar Modal Syariah di Indonesia. Jurnal HIKAMUNA, 1(2), 105–120.
Ningsih, E. R., & Cahyaningdyah, D. (2014). Reaksi Pasar Modal Indonesia Terhadap Pengumuman Kenaikan Harga Bbm 22 Juni 2013. Management Analysis Journal, 3(1), 1–5. https://doi.org/10.15294/maj.v3i1.3352
Novitasari, R., & Khoiruddin, M. (2017). Analisis Faktor Makroekonomi Terhadap kinerja Indeks Saham Syariah Di Lima Negara. Management Analysis Journal, 1–15.
Nurhayati, S. P., Mardani, R. M., & Mustapika, A. (2019). Pengaruh Kurs Dollar, Indeks Dow Jones dan Tingkat Suku Bunga Sertifikat Bank Indonesia (SBI) Terhadap Indeks Harga Saham gabungan (IHSG) (Periode 2016-2018). Riset Manajemen, 139–155.
Oktaviani, B. N., & Wijayanto, A. (2015). Aplikasi Single Index Model dalam Pembentukan Portofolio Optimal Saham LQ45 dan Jakarta Islamic Index. Management Analysis Journal, 4(1), 189–202. https://doi.org/10.15294/maj.v5i3.10651
Osamwonyi, I. O., & Evbayiro-osagie, E. I. (2012). The Relationship between Macroeconomic Variables and Stock Market Index in Nigeria. 3(1), 55–63.
Pardede, N., Hidayat, R. R., & Sulasmiyati, Sr. (2016). Pengaruh Harga Minyak Mentah Dunia, Inflasi, Suku Bunga (Central Bank Rate), dan Nilai Tukar (Kurs) Terhadap Indeks Harga Saham Sektor Pertambangan ASEAN (Studi pada Indonesia , Singapura , dan Thailand Periode Juli 2013 – Desember 2015). Jurnal Administrasi Bisnis (JAB)|Vol., 39(1), 130–138.
Pasaribu, R. B. F., & Kowanda, D. (2013). Dinamika Bursa Saham Asing dan Makroekonomi Terhadap Indeks Harga Saham Gabungan Bursa Efek Indonesia. Jurnal Akuntansi Dan Bisnis, 14(1).
Rachmawati, M., & Laila, N. (2015). Faktor Makroekonomi yang Mempengaruhi Pergerakan Harga Saham pada Indeks Saham Syariah Indonesia (ISSI) di Bursa Efek Indonesia (BEI). Jurnal Ekonomi Syariah Teori Dan Terapan, 2(11), 928–942.
Rahmiyanti, D., & Fianto, B. A. (2019). Pengaruh Variabel Makroekonomi dan Indeks saham Internasional Terhadap Indeks Saham Jakarta Islamic Indek (JII). Ekonomi Syariah Teori Dan Terapan, 6(12), 2381–2392.
Sanjaya, D., & Wijayanto, A. (2019). Macroeconomic Influence On Banking Stock Price. Management Analysis Journal, 4(1).
Saputra, R., Litriani, E., & Akbar, D. alfian. (2017). Pengaruh BI Rate, Inflasi, Nilai Tukar Rupiah, dan Sertifikat Bank Indonesia Syariah (SBIS) terhadap Indeks Saham Syariah Indonesia (ISSI). 3(1), 51–72.
Septiawan, D. A., Hidayat, R. R., & Sulasmiyati, S. (2016). Pengaruh Harga Minyak Dunia, Inflasi, dan Nilai Tukar Terhadap Pertumbuhan Ekonomi Indonesia (Studi Pada Tahun 2007-2014). Jurnal Administrasi Bisnis (JAB), 40(2), 130–138.
Suciningtias, S. A., & Khoiroh, R. (2015). Analisis Dampak Variabel Makro Ekonomi Terhadap Indeks Saham Syariah Indonesia (ISSI). 2(1), 398–412.
Tandelilin, E. (2010). Portofolio dan Investasi Teori dan Aplikasi (Pertama). Yogyakarta : Kanisius.
Tjun, T. L., & Panjaitan, F. B. B. (2019). The Impact of the Change in IDR/USD Exchange Rate on the Change in Indonesia Compasite Index in Indonesia Stock Exchange. South East Asia Journal of Contemporary Business, Economics and Law, 20(5), 57–61.
Utama, O. Y., & Puryandani, S. (2020). The Effect of BI Rate , USD to IDR Exchange Rates , and Gold Price on Stock Returns Listed in the SRI KEHATI Index. Jurnal Dinamika Manajemen, 11(1), 38–46. https://doi.org/10.15294/jdm.v11i1.21207
Utoyo, N. N., & Riduwan, A. (2016). Pengaruh Tingkat Inflasi, Suku Bunga, Harga Emas Dunia, dan Kurs Rupiah pada JII. Jurnal Ilmu Dan Riset Akuntansi, 5(8).
Widyasa, V. I. A., & Worokinasih, S. (2018). Pengaruh Tingkat Inflasi, Nilai Tukar Rupiah, dan Tingkat Suku Bunga Domestik terhadap Indeks Saham Syariah Indonesia ( ISSI ) ( Studi Pada Saham Syariah Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2017). Administrasi Bisnis (JAB)|Vol., 60(1), 119–128.
Yunita, Y., Nurlita, E., & Robiyanto, R. (2018). Pengaruh Suku Bunga, Kurs Rupiah, dan Harga Emas Terhadap Return Harga Saham Sektor Pertambangan di Bursa Efek Indonesia. 624–630.
Yusfiarto, R., & Pambekti, T. G. (2020). Analisis Pengaruh Variabel Makro Terhadap Return Indeks Saham Syariah Di Indonesia : Studi Pada Fenomena Perang Dagang Global. Akuntansi Dan Keuangan Islam, 1(1), 71–85.
Zhang, Y., & Wu, Y.-B. (2018). The Dynamic Information Spill-Over Effect of WTI Crude Oil Prices On China’s Traditional Energy Sectors. https://doi.org/10.1108/CAER-05-2017-0094
Aghekyan-Simonian, M., Forsythe, S., Kwom, W. S., & Chattaraman, V. (2012). Journal of Retailing and Consumer Services The role of product brand image and Online Store Image On Perceived Risks and Online Purchase Intentions for Apparel. Journal of Retailing and Consumer Services, 19, 325–331. https://doi.org/10.1016/j.jretconser.2012.03.006
Andriyani, I., & Armeren, C. (2016). Pengaruh Suku Bunga, Inflasi, Nilai Buku Terhadap Harga Saham Perusahaan Indeks LQ45 yang Terdaftar di Bursa Efek Indonesia (BEI). Jurnal Ilmiah Orasi Bisnis, 15, 44–64.
Ardana, Y. (2016). Pengaruh Variabel Makroekonomi Terhadap Indeks Saham Syariah di Indonesia: Model ECM. Jurnal Bisnis Dan Manajemen, 6(1), 17–30. https://doi.org/10.15408/ess.v6i1.3118
Bala, U., & Chin, L. (2017). Oil Price, Exchange Rate and Disaggregate Consumer Prices: Causality, Impulse Response, and Variance Decomposition. International Journal of Commerce and Management, 5(6), 37–59.
BenMabrouk, H. (2018). Cross Herding Behavior Between The Stock Market and The Crude Oil Market During Financial Distress: Evidence From The New York stock Exchange.
Cahyaningdyah, D., & Ressany, Y. D. (2012). Pengaruh Kebijakan Manajemen Keuangan Terhadap Nilai Perusahaan. Jurnal Dinamika Manajemen, 3(1), 20–28. https://doi.org/10.15294/jdm.v3i1.2456
Chakimatuzzahroh, & Witiastuti, R. S. (2018). Pull Factor And Push Factor Influences On The Volatility Of Foreign Investment Flows In Indonesian Capital Market. Management Analysis Journal, 7(2), 231–243.
Eldomiaty, T., Saeed, Y., Hammam, R., & Aboulsoud, S. (2020). The Associations Between Stock Prices, Inflation Rates, Interest Rates are Still Persistent Empirical Evidence from Stock Duration Model. Journal of Economics, Finance and Administrative Science, 25(49), 149–161. https://doi.org/10.1108/JEFAS-10-2018-0105
Gumilang, R. C., Hidayat, R. R., & NP, M. G. W. E. (2014). Pengaruh Variabel Makro Ekonomi, Harga Emas dan Harga Minyak Dunia terhadap Indeks Harga Saham Gabungan (Studi pada Bursa Efek Indonesia Periode 2009-2013). Jurnal Administrasi Bisnis (JAB)|Vol., 14(2), 1–9.
Heryanto. (2016). Analisis Pengaruh Tingkat Inflasi, Nilai Kurs, Harga Emas Dunia Terhadap Indeks Saham LQ45 di Bursa Efek Indonesia Periode Tahun 2011-2014. FinAcc, 1(1), 148–160.
Ibrahim, M., & Musah, A. (2014). An Econometric Analysis of the Impact of Macroeconomic Fundamentals on Stock Market Returns in Ghana. 6(2), 47–72. https://doi.org/10.5296/rae.v6i2.5146
Insiyah, J. (2017). Pengaruh Suku Bunga (BI Rate), Harga Emas Dunia, Tingkat Inflasi, Jumlah Uang Beredar (M2) dan Harga Minyak Dunia terhadap Indek Harga Saham Jakarta Islamic Index (JII) di Bursa Efek Indonesia (Periode Januari 2008- Desember 2015).
Kewal, S. S. (2012). Pengaruh Inflasi, Suku Bunga, Kurs, dan Pertumbuhan PDB terhadap Indeks Harga Saham Gabungan. Jurnal Economia, 8(1), 53–64.
Khai, H. V., Sang, L. M., & Nguyet, P. T. A. (2017). The Impact of World Crude Oil Prices on The Vietnamese Stock Market. I(1), 106–115.
Khan, Mustaque, M., Yousuf, & Sadek, A. (2013). Macroeconomic Forces and Stock Prices : Evidence from the Bangladesh Stock Market.
Khoiruddin, M., & Faizati, E. R. (2014). Reaksi Pasar Terhadap Dividend Announcement Perusahaan Yang Sahamnya Masuk Daftar Efek Syariah. Jurnal Dinamika Manajemen, 5(2), 209–219. https://doi.org/10.15294/jdm.v5i2.3662
Kisten, T. (2019). Macroeconomic implications of uncertainty in South Africa. South African Journal of Economic and Management Sciences, 1–15.
Krisna, A. A. G. A., & Wirawati, N. G. P. (2013). Pengaruh Inflasi, Nilai Tukar Rupiah, Suku Bunga SBI pada Indeks Harga Saham Gabungan di BEI. E-Jurnal Akuntansi Universitas Udayana, 3(2), 421–435.
Kumar, K. K., & Sahu, B. (2017). Dynamic Linkages Between Macroeconomic Factors and Islamic Stock Indices in a Non-Islamic Country India. The Journal of Developing Areas, 51(1), 193–205.
Listriono, K., & Nuraina, E. (2015). Peranan Inflasi, BI Rate, Kurs Dollar (USD/IDR) dalam Mempengaruhi Indeks Harga Saham Gabungan. Jurnal Dinamika Manajemen, 6(1), 73–83.
Maharditya, M. A., Layyinaturrobaniyah, & Anwar, M. (2018). Implication of Macroeconomic Factors to Stock Returns of Indonesian Property and Real Estate Companies. Jurnal Dinamika Manajemen, 9(1), 100–113. https://doi.org/10.15294/jdm.v9i1.14656
Mashudi, D., Ibrahim, M. A., & Fadilah, I. (2019). The Effect of Macroeconomic Variables on Sharia Stock Prices in the Jakarta Islamic Index. 409, 324–327.
Metadjer, W., & Boulila, H. (2018). Causal Relationship Between Islamic Bonds , Oil Price and Precious Metals : Evidence From Asia Pacific. Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics), 10(2), 285–298.
Mishkin, F. (2008). Ekonomi Uang Perbankan Pasar Keuangan Buku 2 (Edisi 8). Jakarta, Selemba Empat.
Mushair, H., Murugananthi, & Rohini. (2020). A Study On Effect Of Macroeconomic factors On Stock Market In India. UGC Care Listed Journal, 68(2), 9–18.
Muttaqin, N. I. (2017). Pengaruh Kurs, Infasi, Jumlah Uang Beredar, Suku Bunga Bank Indonesia, dan IHSG terhadap Inde Harga Saham Syariah di Jakarta Islamic Index (JII) Periode Januari 2011-Desembe 2016.
Nasser, F. A. M., Rosid, C. M. A. C., & Baharuddin, N. S. (2017). Relation between Macroeconomic Variables and ASEAN Stock Index. Terengganu International Finance and Economics Journal, 5(1), 7–13.
Nazir, A. (2016). Pasar Modal Syariah di Indonesia. Jurnal HIKAMUNA, 1(2), 105–120.
Ningsih, E. R., & Cahyaningdyah, D. (2014). Reaksi Pasar Modal Indonesia Terhadap Pengumuman Kenaikan Harga Bbm 22 Juni 2013. Management Analysis Journal, 3(1), 1–5. https://doi.org/10.15294/maj.v3i1.3352
Novitasari, R., & Khoiruddin, M. (2017). Analisis Faktor Makroekonomi Terhadap kinerja Indeks Saham Syariah Di Lima Negara. Management Analysis Journal, 1–15.
Nurhayati, S. P., Mardani, R. M., & Mustapika, A. (2019). Pengaruh Kurs Dollar, Indeks Dow Jones dan Tingkat Suku Bunga Sertifikat Bank Indonesia (SBI) Terhadap Indeks Harga Saham gabungan (IHSG) (Periode 2016-2018). Riset Manajemen, 139–155.
Oktaviani, B. N., & Wijayanto, A. (2015). Aplikasi Single Index Model dalam Pembentukan Portofolio Optimal Saham LQ45 dan Jakarta Islamic Index. Management Analysis Journal, 4(1), 189–202. https://doi.org/10.15294/maj.v5i3.10651
Osamwonyi, I. O., & Evbayiro-osagie, E. I. (2012). The Relationship between Macroeconomic Variables and Stock Market Index in Nigeria. 3(1), 55–63.
Pardede, N., Hidayat, R. R., & Sulasmiyati, Sr. (2016). Pengaruh Harga Minyak Mentah Dunia, Inflasi, Suku Bunga (Central Bank Rate), dan Nilai Tukar (Kurs) Terhadap Indeks Harga Saham Sektor Pertambangan ASEAN (Studi pada Indonesia , Singapura , dan Thailand Periode Juli 2013 – Desember 2015). Jurnal Administrasi Bisnis (JAB)|Vol., 39(1), 130–138.
Pasaribu, R. B. F., & Kowanda, D. (2013). Dinamika Bursa Saham Asing dan Makroekonomi Terhadap Indeks Harga Saham Gabungan Bursa Efek Indonesia. Jurnal Akuntansi Dan Bisnis, 14(1).
Rachmawati, M., & Laila, N. (2015). Faktor Makroekonomi yang Mempengaruhi Pergerakan Harga Saham pada Indeks Saham Syariah Indonesia (ISSI) di Bursa Efek Indonesia (BEI). Jurnal Ekonomi Syariah Teori Dan Terapan, 2(11), 928–942.
Rahmiyanti, D., & Fianto, B. A. (2019). Pengaruh Variabel Makroekonomi dan Indeks saham Internasional Terhadap Indeks Saham Jakarta Islamic Indek (JII). Ekonomi Syariah Teori Dan Terapan, 6(12), 2381–2392.
Sanjaya, D., & Wijayanto, A. (2019). Macroeconomic Influence On Banking Stock Price. Management Analysis Journal, 4(1).
Saputra, R., Litriani, E., & Akbar, D. alfian. (2017). Pengaruh BI Rate, Inflasi, Nilai Tukar Rupiah, dan Sertifikat Bank Indonesia Syariah (SBIS) terhadap Indeks Saham Syariah Indonesia (ISSI). 3(1), 51–72.
Septiawan, D. A., Hidayat, R. R., & Sulasmiyati, S. (2016). Pengaruh Harga Minyak Dunia, Inflasi, dan Nilai Tukar Terhadap Pertumbuhan Ekonomi Indonesia (Studi Pada Tahun 2007-2014). Jurnal Administrasi Bisnis (JAB), 40(2), 130–138.
Suciningtias, S. A., & Khoiroh, R. (2015). Analisis Dampak Variabel Makro Ekonomi Terhadap Indeks Saham Syariah Indonesia (ISSI). 2(1), 398–412.
Tandelilin, E. (2010). Portofolio dan Investasi Teori dan Aplikasi (Pertama). Yogyakarta : Kanisius.
Tjun, T. L., & Panjaitan, F. B. B. (2019). The Impact of the Change in IDR/USD Exchange Rate on the Change in Indonesia Compasite Index in Indonesia Stock Exchange. South East Asia Journal of Contemporary Business, Economics and Law, 20(5), 57–61.
Utama, O. Y., & Puryandani, S. (2020). The Effect of BI Rate , USD to IDR Exchange Rates , and Gold Price on Stock Returns Listed in the SRI KEHATI Index. Jurnal Dinamika Manajemen, 11(1), 38–46. https://doi.org/10.15294/jdm.v11i1.21207
Utoyo, N. N., & Riduwan, A. (2016). Pengaruh Tingkat Inflasi, Suku Bunga, Harga Emas Dunia, dan Kurs Rupiah pada JII. Jurnal Ilmu Dan Riset Akuntansi, 5(8).
Widyasa, V. I. A., & Worokinasih, S. (2018). Pengaruh Tingkat Inflasi, Nilai Tukar Rupiah, dan Tingkat Suku Bunga Domestik terhadap Indeks Saham Syariah Indonesia ( ISSI ) ( Studi Pada Saham Syariah Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2017). Administrasi Bisnis (JAB)|Vol., 60(1), 119–128.
Yunita, Y., Nurlita, E., & Robiyanto, R. (2018). Pengaruh Suku Bunga, Kurs Rupiah, dan Harga Emas Terhadap Return Harga Saham Sektor Pertambangan di Bursa Efek Indonesia. 624–630.
Yusfiarto, R., & Pambekti, T. G. (2020). Analisis Pengaruh Variabel Makro Terhadap Return Indeks Saham Syariah Di Indonesia : Studi Pada Fenomena Perang Dagang Global. Akuntansi Dan Keuangan Islam, 1(1), 71–85.
Zhang, Y., & Wu, Y.-B. (2018). The Dynamic Information Spill-Over Effect of WTI Crude Oil Prices On China’s Traditional Energy Sectors. https://doi.org/10.1108/CAER-05-2017-0094
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Affiliations
Indah Nawindra
Universitas Negeri Semarang
Andhi Wijayanto
Universitas Negeri Semarang
How to Cite
1.
Nawindra I, Wijayanto A. The Influence of Macroeconomic Variables on The Indonesian Sharia Stock Index (ISSI) for The 2013-2019 Period. MAJ [Internet]. 31Dec.2020 [cited 19Nov.2024];9(4):402-1. Available from: http://journal.unnes.ac.id/sju/maj/article/view/41875
The Influence of Macroeconomic Variables on The Indonesian Sharia Stock Index (ISSI) for The 2013-2019 Period
Vol 9 No 4 (2020): Management Analysis Journal
Submitted: Oct 16, 2020
Published: Dec 31, 2020
Abstract
Investors believe that economic factors have a major impact on developments in the Islamic capital market. This study aims to describe and analyze macroeconomics of the Indonesian Sharia Stock Index (ISSI). The sample of this study consisted of 84 data consisting of all population data, namely all data on closing prices at the end of each month from exchange rates, BI Rate, inflation, world oil prices, world gold prices, and the Indonesian Sharia Stock Index (ISSI) for the period January 2013 - December. 2019. The analysis technique used is the Error Correction Model (ECM). The results showed that in the short term the exchange rate variable had a significant effect on the ISSI, while the BI Rate, inflation, world oil prices and world gold prices had no effect on the ISSI. In the long run, the variable exchange rate, BI Rate, inflation and world gold prices have a significant effect on the ISSI, while the world oil price variable has no effect on the ISSI