PENGARUH INFLASI, NILAI TUKAR RUPIAH, BI RATE DAN JUMLAH UANG BEREDAR TERHADAP INDEKS SAHAM SYARIAH INDONESIA (ISSI) PERIODE 2016-2018

Abaida Zuhri, Maslichah Maslichah, Dwiyani Sudaryanti

Abstract


ABSTRACT

The purpose of this study was to determine the effect of inflation, rupiah exchange rate, BI rate and money supply on the Indonesian Sharia Stock Index (ISSI) for the 2016-2018 period. The data used in this research is secondary data. The population used is all companies listed on the Indonesian Sharia Stock Index for the period 2016-2018. The sampling technique was done by using purposive sampling method. The sample of this study was 36. Data analysis was performed using multiple linear regression method. The results of this study indicate that (1) Inflation has a negative and significant effect on ISSI, with a significance level of 0.051 <0.05. (2) The rupiah exchange rate has a significant negative effect on the ISSI, with a significance level of 0.000 <0.05. (3) BI rate has no effect on ISSI, with a significance level of 0.111> 0.05. (4) The money supply has a significant positive effect on ISSI, with a significance level of 0.000 <0.05.

Keywords: Inflation, Rupiah Exchange Rate, BI rate, Money Supply and Indonesian Sharia Stock Index


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