Vol. 6, No. 1, April 2016

Pengaruh Variabel Makroekonomi terhadap Indeks Saham Syariah di Indonesia: Model ECM

Ardana, Yudhistira ( STMIK Pringsewu )

Article Info

Publish Date
17 May 2016


This research aim is to analyze the impact of macroeconomics variable to Islamic stock’s index in Indonesia. The macroeconomic variables are BI-rate, inflation, foreign exchange, sharia Bank of Indonesia certificate and oil world price. The methods that used in this research is error correction model to analyze the short-run and long-run impact of macroeconomics variables to Islamic stock’s index. The result shown that the foreign exchange rate and sharia Bank of Indonesia certificate influence the to Islamic stock’s index in short-run. Otherwise the interest rate, shariah Bank of  Indonesia certificate, and oil world price influence the to Islamic stock’s index in long-runDOI: 10.15408/ess.v6i1.3118

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Journal Info





Decision Sciences, Operations Research & Management


Esensi: Jurnal Bisnis dan Manajemen. The Journal published by Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta. This journal focused on Accounting, Business, Economics, Finance and Management studies. The Journal is published twice a year. The aim of the ...