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dc.contributor.authorSukmana, Raditya
dc.contributor.authorUniversitas Airlangga
dc.date.accessioned2019-09-23T14:19:30Z
dc.date.available2019-09-23T14:19:30Z
dc.date.created2017-11-29 00:39
dc.date.issued2017-11-16
dc.identifieroai:ojs.localhost:article/5903
dc.identifierhttp://journal.uinjkt.ac.id/index.php/iqtishad/article/view/5903
dc.identifier10.15408/aiq.v10i1.5903
dc.identifier.urihttp://hdl.handle.net/20.500.12424/66046
dc.description.abstractMacroeconomics variables tend one of the determinant factors that affect the equity markets. This research is going to comprehensively investigate the influence of macroeconomic indicators to equity markets (both Islamic and conventional Indices) in Indonesia as an emerging market. The paper relies on the co-integration test, impulse response function, and variance decomposition analysis, focusing on the period from 2003:1 to 2016:12. Two indices of Jakarta Composite Index (JKSE) and Jakarta Islamic Index (JII) are adopted and Industrial Production Index (IPI), Consumer Price Index (CPI), Money Supply (M2) and Currency Exchange (EXC) are also utilized as the determinants The result suggests that both indices share their long run comovement among the variables. IPI and CPI seem to be following the theory by indicating positive effects on JKSE and JII. The result implies that equity market performance represent the economic performance as indicated by IPI. When IPI increases it will then be followed by increase in both indices. Moreover, given the existing significant amount of  imported raw material in Indonesia, the behaviour of exchange rate needs to be taken into account
dc.languageen
dc.language.isoeng
dc.publisherFaculty of Shariah and Law
dc.rightsAuthors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
dc.sourceAl-Iqtishad: Jurnal Ilmu Ekonomi Syariah; Vol 10, No 1 (2018): (In Progress)
dc.subjectmacroeconomic variables
dc.subjectstock indices
dc.subjectJakarta Islamic index
dc.subjectJakarta composite index
dc.titleMacroeconomic Variables and Stock Indices in Indonesia: Comparation Between Islamic and Conventional
ge.collectioncode2087-135X
ge.dataimportlabelOAI metadata object
ge.identifier.legacyglobethics:12138431
ge.identifier.permalinkhttps://www.globethics.net/gtl/12138431
ge.lastmodificationdate2017-11-29 00:39
ge.lastmodificationuseradmin@pointsoftware.ch (import)
ge.submissions0
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ge.oai.repositoryid98351
ge.oai.setnameArticles
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ge.linkhttp://journal.uinjkt.ac.id/index.php/iqtishad/article/view/5903


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