Returns and Investors’ Risk Perception as the Determinants of Sharia Index Integration During Covid-19
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 07
Abstract
Capital market liberalization provides international diversification opportunities for investors in the capital market. However, developments in information technology that lead to the speed of information dissemination encourage capital market integration, in which a country's capital market will relate to other countries' capital markets. This study uses a quantitative approach and determines the Jakarta Islamic Index (JII) and the Dow Jones Islamic Market Index (DJIMI) as research samples. The method used is GARCH and Sobel test. The study results show that Indonesia's Islamic stock index is integrated with the global Islamic stock index. The index integration relationship is influenced by investors' risk perceptions, where investors' risk perceptions have an asymmetric negative relationship with stock index returns indicating a leverage effect. Meanwhile, investors' perceptions of risk cannot mediate the effect of returns on the integration of Islamic stock indices.
Authors and Affiliations
Andriani Selvia, Moeljadi, Aisjah Siti
Keywords
Related Articles
- EP ID EP727261
- DOI 10.47191/jefms/v6-i7-62
- Views 48
- Downloads 0
The Influence of Exchange Rate, Inflation, For the Results of the Development Assets of Islamic Banks
This study aims to determine how much influence the exchange rate, inflation, for the results of partial and simultaneous influence on the development of the assets of islamic banks in Indonesia. This study using the tec...
The Influence of Capital Structure and Liquidity on Company Value Mediated by Financial Performance in Automotive Subsector Manufacturing Companies Listed on the IDX 2019-2023
This study aims to determine the influence of the influence of capital structure and liquidity on company value in financial performance mediation in manufacturing companies in the automotive sub-sector listed on the IDX...
The Role of Job Satisfaction as a Mediation of Competence and Motivation on Employee Performance at Marthalia Skincare Clinic Denpasar
Competency, motivation, and job satisfaction variables are thought to be significant in influencing employee performance at the Marthalia Skincare Clinic (MSC). The purpose of this study was to analyze the influence of c...
The Fresh - Cut Flower Trade between the Province of Yunnan (China) and The ASEAN
This paper summarizes and analyzes the overview of import and export situation of fresh-cut flowers in the Province of Yunnan (China) in recent years. It focuses on the import and export volume of the fresh-cut flowers b...
Initiating form of Intellectual Property Office in Indonesia Based on Dynamic Governance
Indonesia performs worse in innovation outputs than innovation inputs in 2024. This year Indonesia ranks 54th in innovation inputs and Indonesia was included in upper middle-income group together with countries such as C...