Hasil Pencarian  ::  Simpan CSV :: Kembali

"Penelitian ini bertujuan untuk membangun Indeks Syariah Berkelanjutan dan membandingkan performa indeks tersebut terhadap Indeks Saham Syariah Indonesia (ISSI) dengan SRI Kehati. Metode pengambilan data dilakukan melalui data perusahaan yang tergabung ISSI sejak 2016 hingga 2021 yakni 100 perusahaan yakni data harga harian, jumlah outstanding share, serta yield Surat Utang Negara 10 tahun. Penelitian ini menggunakan metode penelitian mix method yakni  kualitatif dan kuantitatif. Metode kualitatif penelitian ini adalah content analysis dalam rangka menerapkan screening process DJSI. Metode kuantitatif penelitian ini terdiri dari proses pemberian nilai ESG. Selain itu, untuk menghitung perbandingan performa dengan menggunakan metode absolute return measurement, Sharpe Ratio, Treynor Ratio, dan  Jensen’s Alpha dengan CAPM serta uji hipotesis t-test. Hasil penelitian menunjukkan bahwa tidak ada perbedaan risiko dan tingkat pengembalian yang signifikan antara ISSI, SRI dan ISB. Hal ini mengindikasikan bahwa memasukkan konsep keberlanjutan dalam indeks syariah tidak berdampak buruk pada tingkat pengembalian dan risiko sehingga tidak adanya trade off dalam memilih ISB dalam keputusan investasi.

---

This study aims to build a Sustainable Sharia Index and compare the performance of the index against the Indonesian Sharia Stock Index (ISSI) with SRI Kehati. The data collection method is carried out through data from companies that are members of ISSI from 2016 to 2021, namely 100 companies, namely daily price data, the number of outstanding shares, and the yield of 10-year Government Bonds. This study uses a mix method research method, namely qualitative and quantitative. The qualitative method of this research is content analysis in order to implement the DJSI screening process. The quantitative method of this research consists of the process of giving ESG scores. In addition, to calculate the performance comparison using the absolute return measurement method, Sharpe Ratio, Treynor Ratio, and Jensen's Alpha with CAPM and hypothesis testing t-test. The results showed that there was no significant difference in risk and rate of return between ISSI, SRI and ISB. This indicates that including the concept of sustainability in the sharia index does not have a negative impact on the rate of return and risk so that there is no trade off in choosing the ISB in investment decisions."

"Studi ini bertujuan untuk membangun Indeks Saham Syariah Berkelanjutan di Indonesia yang akan disebut Sharia Socially Responsible Investment Index (SSRI) dan mengevaluasi karakteristik risiko dan pengembaliannya dibandingkan dengan SRI Kehati dan Indeks Saham Syariah Indonesia (ISSI) dengan menggunakan benchmark IHSG. Penelitian ini menggunakan metode penelitian mix method yaitu kualitatif dan kuantitatif. Metode kualitatif penelitian ini adalah content analysis dalam rangka menerapkan screening SRI Kehati berdasarkan informasi yang didapatkan dari Annual Report dan Sustainability Report perusahaan yang selalu terdaftar di ISSI sejak 2016 - 2021. Metode kuantitatif penelitian ini terdiri dari pembuatan harga indeks baru dengan metode Equally Weighted Method. Selain itu, perhitungan dalam membandingkan karakteristik risiko dan pengembalian menggunakan metode Absolute Return Measurement, Sharpe Ratio, Treynor Ratio, dan Jensen’s Alpha dengan CAPM berdasarkan data yang dikumpulkan dari refinitv, eikon, IDX, Yahoo Finance periode 2016 – 2021. Hasil penelitian menunjukkan bahwa pada periode krisis SSRI berhasil mengungguli ISSI dan SRI Kehati dan secara umum dapat bersaing dengan ISSI dan SRI Kehati. Hasil ini menunjukkan bahwa memasukkan screening ESG ke dalam keputusan investasi syariah tidak berdampak buruk pada pengembalian dan risiko, sehingga dapat dijadikan opsi untuk diversifikasi portofolio. Selain itu SSRI akan meningkatkan dampak dan kontribusi positif untuk mengurangi kesenjangan pembiayaan SDGs, serta mendapatkan basis investor yang lebih luas.

---

This study aims to build a Sustainable Sharia Stock Index in Indonesia which will be called the Sharia Socially Responsible Investment Index (SSRI) and evaluate its risk and return characteristics compared to the SRI Kehati and the Indonesian Sharia Stock Index (ISSI) using Composite Stock Price Index as the benchmark. This research uses a mixed method, namely qualitative and quantitative. The qualitative method of this research is content analysis in order to implement the SRI Kehati screening based on information obtained from the Annual Report and Sustainability Report of companies that are always listed on ISSI from 2016 - 2021. The quantitative method of this study consists of making a new index price. with the Equally Weighted Method. In addition, the calculation in comparing risk and return characteristics uses the Absolute Return Measurement method, Sharpe Ratio, T"

"ABSTRACTDi tengah pesatnya pertumbuhan industri Islam, baik di sektor keuangan dan di sektor riil. Status syariah yang melekat pada penerbit adalah sesuatu yang dapat mendukung penerbit ini untuk berpartisipasi dalam pertumbuhan industri. Penapisan syariah diperkenalkan untuk mengukur dan menentukan status syariah terhadap emiten yang termasuk dalam pasar modal. Indeks Saham Syariah Indonesia (ISSI) adalah indeks yang terdiri dari seluruh daftar efek syariah di Indonesia. Studi ini membahas bagaimana mengumumkan perubahan pada konstituen ISSI untuk meningkatkan harga saham perusahaan yang diumumkan dalam pengumuman. Penelitian ini menggunakan data dari 109 emiten yang diumumkan selama tahun 2015 hingga 2018. Data yang digunakan dalam penelitian ini terdiri dari harga pembukaan saham harian, pengumuman ISSI, dan data aksi korporasi. Metode yang digunakan dalam penelitian ini adalah event study. Hasil penelitian ini menemukan bahwa pasar atau investor merespons positif saham yang ditambahkan ke ISSI dan tanggapan negatif untuk saham dihapus dari ISSI. Namun, kondisi ini tidak terjadi sepanjang periode yang diumumkan. Hasil lain adalah bahwa ada perbedaan yang signifikan dalam pengembalian abnormal rata-rata kumulatif yang lebih konsisten oleh perusahaan yang dihapus dari ISSI daripada yang ditambahkan ke ISSI.

---

ABSTRACTAmid the rapid growth of the Islamic industry, both in the financial sector and in the real sector. The status of sharia attached to the publisher is something that can support this publisher to participate in industrial growth. Sharia screening is introduced to measure and determine the status of sharia for issuers included in the capital market. The Indonesian Sharia Stock Index (ISSI) is an index consisting of a whole list of sharia securities in Indonesia. This study discusses how to announce changes to the ISSI constituents to increase the company's share price announced in the announcement. This study uses data from 109 issuers that were announced during 2015 to 2018. The data used in this study consisted of daily stock opening prices, ISSI announcements, and corporate action data. The method used in this research is event study. The results of this study found that the market or investors responded positively to shares added to ISSI and negative responses to shares removed from ISSI. However, this condition did not occur during the announced period. Another result is that there is a significant difference in cumulative abnormal returns that are more consistent by companies that are removed from ISSI than those added to ISSI."

"Pandemi COVID-19 telah memicu berbagai tanggapan dari lingkungan ekonomi dan bisnis. Data pasar mengungkapkan korelasi negatif yang kuat antara pengumuman kasus pertama, pengumuman kasus pertama dan kematian pertama, dan setiap pengumuman kebijakan Pembatasan Sosial Berskala Besar (PSBB). Dalam jangka pendek, penelitian ini akan melihat bagaimana reaksi saham-saham penyusun IHSG terhadap kebijakan pemerintah, laju penyebaran COVID-19, dan laju kenaikan pasar modal dengan melihat signifikansi dari uji-t kumulatif abnormal return seluruh saham penyusun IHSG sebelum dan selama masa pandemi COVID-19. Temuan mengungkapkan bahwa setiap perubahan kebijakan PSBB berdampak pada return saham

---

The COVID-19 pandemic has triggered a range of responses from the economics and business environment. The market data reveals a strong negative correlation between the first case announcement, the first case announcement and the first death, and every announcement of the Large-Scale Social Restrictions policy (PSBB). In the short term, this research will look at how the constituent stocks of the Indonesian Sharia stock index react to government policies, the rate of spread of COVID-19, and the rate of increase in the capital market by looking at the significance of the t-test of the cumulative abnormal return of all Indonesian Sharia stock index constituent stocks before and during the COVID-19 pandemic. The findings reveal that every change in PSBB policy has an impact on stock returns."

"[ABSTRAKbrSkripsi ini membahas hubungan interdependensi antara indeks saham konvensional dan syariah di Indonesia dan Malaysia dengan Indeks negara maju DJIA S P 500 FTSE 100 pada periode krisis dan pasca krisis serta membahas mengenai volatitasnya pada periode krisis Tujuan dari peneltian ini adalah untuk melihat apakah saham syariah tidak terpengaruh pergerakan indeks konvensional negara maju dan untuk melihat apakah indeks saham syariah memiliki volatilitas yang lebih rendah pada periode krisis Kesimpulan dari penelitian ini menemukan bahwa walaupun tidak terdapat kointegrasi antara indeks konvensional dan syariah dengan indeks negara maju hubungan interdependensi tetap terjadi diantara keduanya dan volatilitas indeks saham syariah menunjukkan volatilitas yang lebih kecil Dengan demikian meskipun indeks saham syariah tidak sepenuhnya terpisah dari pergerakan indeks konvensional negara maju indeks saham syariah mampu menjadi alternatif investasi yang memiliki risiko lebih rendah ;ABSTRACTThis research discusses the interdependence between conventional and Islamic stock index in Indonesia and Malaysia with developed country stock index DJIA S P 500 FTSE 100 in the period of crisis and post crisis and to discuss the volatility during the crisis period The purpose of this research is to see whether the movement of Islamic stock index is not affected by conventional developed country stock market movement and to see whether sharia stock index has lower volatility during the period of crisis The conclusion of this study found that although there is no cointegration between conventional and Islamic index in Indonesia and Malaysia with developed country stock index the relationship of interdependence still occurred between both of them and the volatility of sharia stock index is lower than the conventional stock index Thus although the sharia stock index is not completely decoupled from the negara maju conventional index movement sharia stock index can be seen as an alternative investment that has a lower risk ;ABSTRACTThis research discusses the interdependence between conventional and Islamic stock index in Indonesia and Malaysia with developed country stock index DJIA S P 500 FTSE 100 in the period of crisis and post crisis and to discuss the volatility during the crisis period The purpose of this research is to see whether the movement of Islamic stock index is not affected by conventional developed country stock market movement and to see whether sharia stock index has lower volatility during the period of crisis The conclusion of this study found that although there is no cointegration between conventional and Islamic index in Indonesia and Malaysia with developed country stock index the relationship of interdependence still occurred between both of them and the volatility of sharia stock index is lower than the conventional stock index Thus although the sharia stock index is not completely decoupled from the negara maju conventional index movement sharia stock index can be seen as an alternative investment that has a lower risk , ABSTRACTThis research discusses the interdependence between conventional and Islamic stock index in Indonesia and Malaysia with developed country stock index DJIA S P 500 FTSE 100 in the period of crisis and post crisis and to discuss the volatility during the crisis period The purpose of this research is to see whether the movement of Islamic stock index is not affected by conventional developed country stock market movement and to see whether sharia stock index has lower volatility during the period of crisis The conclusion of this study found that although there is no cointegration between conventional and Islamic index in Indonesia and Malaysia with developed country stock index the relationship of interdependence still occurred between both of them and the volatility of sharia stock index is lower than the conventional stock index Thus although the sharia stock index is not completely decoupled from the negara maju conventional index movement sharia stock index can be seen as an alternative investment that has a lower risk ]"

"ABSTRAKPenelitian ini bertujuan untuk mengamati reaksi saham-saham yang tergabung dalam indeks LQ45 dengan peristiwa politik nasional. Penelitian ini berfokus kepada peristiwa politik khususnya pemilihan umum yang terjadi dalam rentang waktu 11 tahun antara tahun 2009 hingga 2019. Metode studi peristiwa digunakan dalam penelitian ini, dengan menggunakan panjang sebelas hari untuk periode event window, lima hari sebelum dan lima hari sesudah tanggal kejadian. Reaksi didekati dengan abnormal return yang signifikan selama periode event window. Hasil penelitian menunjukan berbagai signifikansi abnormal dari setiap peristwa politik.

---

ABSTRACT

This study aims to observe the reaction of stocks incorporated in the LQ45 index with national political events. This research focuses on political events, especially general elections that occur in the span of 11 years between 2009 and 2019. The event study method was used in this study, using eleven days for the event window period, five days before and five days after the date of the event. The reaction is approached with a significant abnormal return during the event window period. The results showed a variety of abnormal significance of each political event."