The Influence of the World Gold Price, the Dow Jones Islamic Market, and the Composite Stock Price Index on the Jakarta Islamic Index for the 2014 - 2018 period

Authors

  • Siti Chaerunisa Prastiani Universitas Pamulang

DOI:

https://doi.org/10.32493/eaj.v4i1.y2021.p13-24

Keywords:

World Gold Price, Dow Jones Islamic Market, Composite Stock Price Index, Jakarta Islamic Index

Abstract

This study aims to determine how much influence the variables of the World Gold Price and Stock Prices with proxies: Dow Jones Islamic Market (DJIM) stock prices, and the Composite Stock Price Index (IHSG), on the Jakarta Islamic Index (JII). This study uses a quantitative approach, namely data that is measured in a numerical scale, based on the 2014-2018 Time Series data relating to variables sourced from the Central Statistics Agency, the Indonesia Stock Exchange and the Directorate General of Oil and Gas. This research uses one of the SPSS Series. The variables in this study consist of World Gold Price (X1), Dow Jones Islamic Market (DJIM) (X2), Composite Stock Price Index (IHSG) (X3) against the Jakarta Islamic Index (JII) (Y). The purpose of this research is to know each variable partially or simultaneously from the variable World Gold Price, Dow Jones Islamic Market and the Jakarta Islamic Index. Research Output expected by an Accredited journal

References

Adiningtyas, Desy.Trishardiyanti. (2018). Analysis of the Effect of Inflation, Exchange Rates, World Crude Oil Prices and World Gold Prices on Sharia Stock Price Index (Case Studies in Indonesia and Malaysia). Other thesis, IAIN SALATIGA.

Afendi, Arif. (2017). The Influence of Macroeconomic Variables on Stock Index in the Jakarta Islamic Index (JII) (2012-2016 Period). "SEGMENT Journal of Management and Business, Vol. 13, No.2.

Aniq, Miftahul. (2015). The effect of exchange rates, inflation, SBI interest rates, money supply and crude oil prices on the Jakarta Islamic Index (JII) on the Indonesian stock exchange for the period 2012-2014. Undergraduate (S1) thesis, UIN Walisongo.

Setiawan, M. Asri. (2019). Analysis of the Influence of the Dow Jones Islamic Market Asia / Pacific Ex-Japan (DJIP), Dow Jones Arabia Titans 50 (DJARB50), World Gold Prices, and Exchange Rates Against JII 2016-2018. Journal Of Islamic Economics and Business Studies, Vol. 4, No.1.

Basit, A. (2020). The Effect of World Gold and Oil Prices on the Composite Stock Price Index (IHSG) for the 2016-2019 Period. Journal of Accounting Applications, 5 (1), 42 - 51.

Basuki, Agus, Tri and Yusuf, A.Indriyani .(2018). THE EFFECT OF MACRO ECONOMIC VARIABLES AND THE WORLD SHARE PRICE INDEX ON THE JAKARTA ISLAMIC INDEX. Economic Bulletin, 16 (1). pp. 81-98. ISSN 1410-2293

Devi, Rahmiyanti. (2019). The Effect of Inflation, Exchange Rates, World Oil Prices, World Gold Prices, and the Dow Jones Islamic Market Index on Stock Returns in the Jakarta Islamic Index for the 2008 - 2018 Period. Airlanga University.

Dwiati, Agustina. Ratna and Ambarwati, Yulian Belinda. (2016). The Effect of Gold Prices on the Indonesian Composite Stock Price Index with Exchange Rates as a Moderating Variable. In: the spirit of Nationalism to Build the Nation through Science and Humanities. 17 August 1945 University Jakarta, Jakarta. ISBN 978-602-74105-0-3

Indriani, Riska, Selly (2020). The Influence of Inflation Rate, Interest Rate, Rupiah Exchange Rate and Gold Price on Composite Stock Price Index in Indonesia Stock Exchange. Undergraduate thesis, STIE Perbanas Surabaya.

Janitra, Egan. (2014). Do World Gold Price, Dow Jones Islamic Market and Inflation The Performance Of Jakarta Index? University of Muhammadiyah Yogyakarta: Journal of Economics and Development Studies Vol. 15 No.2.

Malya, Nurna. (2017). THE EFFECT OF INFLATION AND BI RATE ON SHARIA MUTUAL FUND PORTFOLIO IN INDONESIA PERIOD 2011-2015. Undergraduate thesis, UIN Raden Intan Lampung.

Nurlatifah, Siti. (2015). Comparative Analysis Between Jakarta Islamic Index (JII) and Non-Jakarta Islamic Index (NON-JII) Stock Performance in Indonesia Stock Exchange (IDX) During 2007-2009 Period. Krisnadwipayana: Journal of Accounting and Business Vol.2, No.3

Purnamasari, Dwi. (2016). The Effect of World Gold Price, World Crude Oil Price and Industrial Production Index on Stock Index in Jakarta Islamic Index (JII) in Long Term and Short Term (Period January 2005-December 2015). et al / Journal of Islamic Economics Theory and Applied Vol. 4 No. 7 July 2017: 515-530

Robiyanto. (2018). The Effect Of Gold Price Changes, USD / IDR Exchange Rate Changes and Bank Indonesia (BI) Rate on Jakarta Composite Index (JCI) 's Return and Jakarta Islamic Index (JII)' s Return. Perta Christian University: Journal of Management and Entrepreneurship, Vo.2, No.1.

Salihin, Agus. (2019). The Influence of the Dow Jones Islamic Market Index, the Influence of the Chinese Dow Jones Islamic Market Index and the Composite Stock Price Index on the Jakarta Islamic Index for the 2014-2018 period. Mataram Islamic State University: Journal of Islamic Economics and Finance Vol.10 No.2.

Published

2021-04-15

Issue

Vol. 4 No. 1 (2021): EAJ (Economic and Accounting Journal)

Section

Articles

License

Authors who publish with this journal agree to the following terms:

  1. 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.
  2. 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.
  3. 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).

 

<a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/"><img alt="Creative Commons License" style="border-width:0" src="https://i.creativecommons.org/l/by-sa/4.0/88x31.png" /></a><br />This work is licensed under a <a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/">Creative Commons Attribution-ShareAlike 4.0 International License</a>.