FACTORS INFLUENCING THE PRICE OF INDONESIA SOVEREIGN SUKUK IN SECONDARY MARKET

Share Jurnal Ekonomi dan Keuangan Islam Pub Date : 2019-07-15 DOI:10.22373/SHARE.V8I1.4162

Muhammad Fatih Al Aziz, I. Beik, A. Firdaus

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引用次数: 3

Abstract

The paper analyses four influencing factors toward the Indonesian sovereign sukuk price in the secondary market during the period January 2015 to June 2018, namely liquidity, coupon, maturity and the Indonesia composite index (ICI). The model used is multiple linear regression analysis with time series data obtained from the Ministry of Finance of Indonesia. The results of the analysis show that liquidity had a significant positive effect on the sovereign sukuk price in the secondary market, that coupon also had a significant positive effect; maturity had a significant negative effect, while the Indonesia composite index had a significant positive effect.==============================================================================================Faktor-faktor yang Mempengaruhi Harga Sukuk Indonesia di Pasar Sekunder. Makalah ini menganalisis empat faktor yang mempengaruhi harga sukuk Indonesia di pasar sekunder selama periode Januari 2015 hingga Juni 2018, yaitu likuiditas, kupon, jatuh tempo dan indeks harga saham gabungan (IHSG). Model yang digunakan adalah analisis regresi linier berganda dengan data deret waktu diperoleh dari Kementerian Keuangan Indonesia. Hasil analisis menunjukkan bahwa likuiditas berpengaruh positif signifikan terhadap harga sukuk negara di pasar sekunder, kupon juga berpengaruh positif signifikan, maturitas berpengaruh negatif signifikan, sedangkan indeks harga saham Indonesia berpengaruh positif signifikan terhadap harga sukuk Negara di Pasar Sekunder

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二级市场上印尼主权债券价格的影响因素

本文分析了2015年1月至2018年6月期间，二级市场上印尼主权债券价格的四个影响因素，即流动性、息票、到期日和印尼综合指数。所使用的模型是利用从印度尼西亚财政部获得的时间序列数据进行的多元线性回归分析。分析结果表明，流动性对二级市场主权债券价格有显著的正向影响，息票也有显著的正效应；成熟度具有显著的负效应，而印度尼西亚综合指数具有显著的正效应==========================================================================================================二级市场上影响印尼部落价格的因素。因此，分析了2015年1月至2018年6月期间影响二级市场印尼人口价格的四个因素，即流动性、优惠券、节奏下降和合并价格指数（IHSG）。所使用的模型是利用从印度尼西亚财政部获得的时间拖动数据进行的双线性回归分析。分析结果表明，流动性对国内二级市场价格有显著的正向影响，息票也有显著的正影响，到期日有显著的负影响，而印尼股价指数对国内二次市场价格有明显的正向影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Share Jurnal Ekonomi dan Keuangan Islam

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