Analisis Pengaruh Inflasi, Kurs, Sertifikat Bank Indonesia Syariah, dan Jumlah Uang Beredar Terhadap Indeks Saham Syariah Indonesia Periode 2018-2023

Abstract

This study aims to analyze the effect of inflation, exchange rate, Bank Indonesia Sharia Certificate (SBIS), and money supply on the Indonesia Sharia Stock Index (ISSI). This study used associative research and the type of data used is quantitative data. This study used secondary data obtained from statistical reports on the Indonesia Stock Exchange, Otoritas Jasa Keuangan, Statistics Indonesia and Bank Indonesia. The analytical method of this research is descriptive analysis and multiple linear regression. The population in this study is all of 60 monthly data on inflation, exchange rates, SBIS, money supply, and ISSI. The sampling technique in this study is Saturation Sampling, so the total of data samples is 60. The results of this study indicate that simultaneously, inflation, exchange rate, SBIS and money supply have a significant effect on ISSI for the 2018-2023 period. Partially, inflation has a significant negative effect on the Indonesia Sharia Stock Index, the exchange rate has an insignificant negative effect on the Indonesia Sharia Stock Index, Bank Indonesia Sharia Certificate has a significant negative effect on the Indonesia Sharia Stock Index, and the money supply has an insignificant negative effect on the Indonesia Sharia Stock Index.