Analisis Pengaruh Variabel Makro ekonomi terhadap Return Saham Syariah di Indonesia

Abstract

The purpose of this study is to know the effect of macroeconomic variables on return of syariah stock in Indonesia. The samples of the study are 22 firms listed in BEI with quarterly data from 2000:01-2006:04.

These studies used Ordinary Least Sqauared (OLS) Method and apply the panel data to estimate the impact of macro economic variables on return of syariah stock in Indonesia

The result of study indicated that both SBI and Economic Growth significantly effect on Return on syariah stock with R 0.69% that mean independent variables in the model influence dependen variable 0,64 % and the remainder is influence in other variables beyond model. Analysis with F test between all variable with return of syariah stock indicate that all variable at level 1% significant effect on syariah stock return, The result of study with t-test both variables SBI and Economic Growth with return of stock syariah indicate that both variables at level 1% significant effect on syariah stock return.