Islamic Stock Indices and COVID-19: Evidence from Indonesia

International Journal of Economics and Financial Issues Pub Date : 2024-05-14 DOI:10.32479/ijefi.15942

Selamet Herman Cipto, Endri Endri, Yono Haryono, Dhanang Hartanto

{"title":"Islamic Stock Indices and COVID-19: Evidence from Indonesia","authors":"Selamet Herman Cipto, Endri Endri, Yono Haryono, Dhanang Hartanto","doi":"10.32479/ijefi.15942","DOIUrl":null,"url":null,"abstract":"The COVID-19 pandemic has paralyzed the economy, affected human health, and claimed human lives in the world. This deadly virus is rapidly affecting every aspect of life in all countries. Almost every area of life, from economics to politics, society to culture, has been affected by the COVID-19 pandemic; of course, this impact cannot be separated from the Sharia stocks sub-sector in Indonesia. This study aims to analyze and test the effects of COVID-19 on the response of Islamic stocks. Moreover, to see the difference between the Jakarta Islamic Index (JII) sharia stocks and the Composite Stock Price Index (IHSG) in observations before COVID-19 and after COVID-19. This event study research aims to see the differences between the Jakarta Islamic Index (JII) sharia stocks and the Jakarta Composite Index (IHSG) in observations before COVID-19 and observations after COVID-19. The data used in this study is secondary data already available and obtained from the Indonesia Stock Exchange (IDX). The results of this study show a significant influence on stock prices before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There is no significant effect on stock returns before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There is no significant effect on abnormal returns before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There was a significant influence on stock trading volume before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII).","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":"36 8","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Economics and Financial Issues","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.32479/ijefi.15942","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 0

Abstract

The COVID-19 pandemic has paralyzed the economy, affected human health, and claimed human lives in the world. This deadly virus is rapidly affecting every aspect of life in all countries. Almost every area of life, from economics to politics, society to culture, has been affected by the COVID-19 pandemic; of course, this impact cannot be separated from the Sharia stocks sub-sector in Indonesia. This study aims to analyze and test the effects of COVID-19 on the response of Islamic stocks. Moreover, to see the difference between the Jakarta Islamic Index (JII) sharia stocks and the Composite Stock Price Index (IHSG) in observations before COVID-19 and after COVID-19. This event study research aims to see the differences between the Jakarta Islamic Index (JII) sharia stocks and the Jakarta Composite Index (IHSG) in observations before COVID-19 and observations after COVID-19. The data used in this study is secondary data already available and obtained from the Indonesia Stock Exchange (IDX). The results of this study show a significant influence on stock prices before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There is no significant effect on stock returns before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There is no significant effect on abnormal returns before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII). There was a significant influence on stock trading volume before and after the announcement of COVID-19 in Indonesia on the Jakarta Islamic Index (JII).

查看原文本刊更多论文

伊斯兰股票指数和 COVID-19：印度尼西亚的证据

COVID-19 大流行已导致全球经济瘫痪、人类健康受到影响并夺走了生命。这种致命的病毒正在迅速影响各国生活的方方面面。从经济到政治，从社会到文化，几乎生活的每一个领域都受到了 COVID-19 大流行病的影响；当然，这种影响与印尼的伊斯兰教股子行业是分不开的。本研究旨在分析和检验 COVID-19 对伊斯兰股票反应的影响。此外，还要了解雅加达伊斯兰指数（JII）中的伊斯兰教股票与综合股票价格指数（IHSG）在 COVID-19 之前和之后的观察结果之间的差异。本事件研究旨在了解雅加达伊斯兰教指数（JII）和雅加达综合股价指数（IHSG）在 COVID-19 之前和 COVID-19 之后的差异。本研究使用的数据是从印尼证券交易所（IDX）获得的二手数据。研究结果表明，在印尼 COVID-19 公布前后，雅加达伊斯兰指数（JII）对股票价格有显著影响。COVID-19 在印尼雅加达伊斯兰指数（JII）上公布前后对股票回报率没有明显影响。印尼 COVID-19 公布前后的异常收益率对雅加达伊斯兰指数（JII）没有明显影响。印尼 COVID-19 公布前后的股票交易量对雅加达伊斯兰指数（JII）有明显影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

International Journal of Economics and Financial Issues

自引率

0.00%

发文量

期刊介绍： International Journal of Economics and Financial Issues (IJEFI) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of economics, finance and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of economics, finance and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published Bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Macroeconomcis International Economics Econometrics Business Economics Growth and Development Regional Economics Tourism Economics International Trade Finance International Finance Macroeconomic Aspects of Finance General Financial Markets Financial Institutions Behavioral Finance Public Finance Asset Pricing Financial Management Options and Futures Taxation, Subsidies and Revenue Corporate Finance and Governance Money and Banking Markets and Institutions of Emerging Markets Public Economics and Public Policy Financial Economics Applied Financial Econometrics Financial Risk Analysis Risk Management Portfolio Management Financial Econometrics.