制造业实体伊斯兰股票的财务绩效、宏观经济和系统风险

Rizky Siswanto, Sigid Eko Pramono, R. Ismal
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引用次数: 1

摘要

本研究旨在检验和分析财务绩效的影响,以资产收益率(ROA),流动比率(CR)和每股收益(EPS)衡量,宏观经济指标使用BI率,汇率和通货膨胀,以及增加系统性风险作为干预变量,以印度尼西亚伊斯兰教股票指数(ISSI)制造业的伊斯兰股票回报。研究样本为51家公司,观察时间为2016年至2020年,采用结构方程建模(SEM)方法和IBM AMOS (Analysis of Structural Moment) V.22软件对可用数据进行检验。直接检验结果表明,财务绩效和系统风险对伊斯兰股票收益有影响,而宏观经济指标没有影响。通过干预变量的检验结果表明,财务绩效有影响,但宏观经济指标仍然没有通过系统风险对伊斯兰股票收益产生影响。消费品工业和基础工业的活动一直是主要需求,这是ISSI制造业部门的发行人不受宏观经济指标变化影响的原因。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Financial Performance, Macroeconomics, And Systematic Risk On Islamic Stocks Of Manufacturing Entities
This study is to examine and analyze the effect of financial performance as measured by Return On Assets (ROA), Current Ratio (CR) and Earning Per Share (EPS), macroeconomic indicators using the BI rate, exchange rate and inflation as well as adding systematic risk as an intervention variable to the Islamic stock returns in the manufacturing sector on the Indonesian Sharia Stock Index (ISSI). The research sample was 51 companies with observations from 2016 to 2020, using the Structural Equation Modeling (SEM) method and IBM AMOS (Analysis of Structural Moment) V.22 software to test the available data. The direct test results show that financial performance and systematic risk have an effect on Islamic stock returns, while macroeconomic indicators have no effect. The test results through the intervention variables show that financial performance has an effect, but macroeconomic indicators still have no effect on Islamic stock returns through systematic risk. The activities of the consumer goods industry and basic industry which have always been the main needs are the reason why issuers in the manufacturing sector at ISSI are not affected by changes in macroeconomic indicators.
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