Financial Ratio, Macro Economy, and Investment Risk on Sharia Stock Return

• 발행기관: 한국유통과학회
• 저자명: Bambang WIDAGDO M. JIHADI Yanuar BACHITAR Oky Ervina SAFITRI Sanju Kumar SINGH
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.12, 919~926쪽, 전체 8쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.12.30

영문 초록

The purpose of this study is to analyze and test the effect of financial ratios and macroeconomics on Islamic stock returns listed in Jakarta Islamic Index (JII) other than to assess whether investment risk can be an intervening variable in this study. The type of research is explanatory in nature with a quantitative descriptive approach. The data used is based on secondary sources with a sample group of 29 companies listed on JII for a 5-year period ending 31 December 2018. The data obtained were analyzed by using SEM (Structural Equation Model) with AMOS (Analysis Moment of Structural) 21 program. The results of the study show that only financial ratios affect sharia stock returns and investment risk, while the mediation test found that investment risk does not act as a mediating variable between financial ratios and macroeconomics and Islamic stock return. These findings indicate that the role of the company’s financial health is very important. Besides affecting the rate of return obtained, the company’s financial health can also reflect the level of risk that investors will accept in the future. By improving financial performance properly, a company will have a positive impact on various interested parties and minimize the level of investor losses.

목차

1. Introduction

2. Literature Review

3. Research Methodology

4. Results and Discussion

5. Conclusion

References

키워드

Financial Ratios, Macroeconomics, Investment Risk, Sharia Stock Returns