Abstract
Various macroeconomic factors influence the stock market performance. This study aims to investigate the effects of inflation rate, interest rate, and exchange rate on the sharia stock market performance in the Indonesia Stock Exchange. The market performance is indicated by a portfolio index calculated based on the return of stocks that are consistently listed in the Indonesia Sharia Stock Index (ISSI). The effects of every macroeconomic factor are first tested individually and then simultaneously. Based on the data from 2011 up to 2019, it is found that inflation rate, interest rate, and US$ exchange rate have a negative effect on the market performance.
Cite
CITATION STYLE
Garnia, E., Tahmat, Deden, R., & Iman, S. (2021). A Study on the Effects of Inflation Rate, Interest Rate, and Exchange Rate on the Performance of Indonesia Sharia Stock Market. In Proceedings of the 18th International Symposium on Management (INSYMA 2021) (Vol. 180). Atlantis Press. https://doi.org/10.2991/aebmr.k.210628.006
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