Efisiensi Dan Integrasi Pasar Modal Syariah (Studi Empiris Di Indonesia, Malaysia, Jepang, Cina, Eropa, Dan Amerika Serikat Periode 2014-2018)
| Main Author: | Nurhasanah |
|---|---|
| Other Authors: | Ahmad Rodoni |
| Format: | bachelorThesis |
| Bahasa: | ind |
| Terbitan: |
Fakultas ekonomi dan bisnis uin jakarta
|
| Subjects: | |
| Online Access: |
http://repository.uinjkt.ac.id/dspace/handle/123456789/46796 |
Daftar Isi:
- The results of this research indicate that the Indonesian, Malaysian, Japanese, Chinese, European and American sharia capital markets followed a random walk pattern which meant that all markets were efficient in weak form. This weak form efficient market shows that stock prices reflect all available information. The six sharia capital markets in this study are in accordance with one of the principles of Islamic investment, which is transparent, where the right information is put forward so that it is good for investors. Whereas the findings in the integration analysis show that there is a one-way relationship namely the Malaysian Islamic capital market influencing the Indonesian Islamic capital market and the Indonesian Islamic capital market affecting the United States Islamic capital market.Based on Cointegration analysis, the entire Islamic capital market in this study has a long-term relationship with the Indonesian Islamic capital market. Furthermore, based on the analysis of Forecast Error Variance Decomposition (FEVD), it is seen that the Indonesian Islamic capital market receives the largest contribution from the movements of the Chinese and Japanese sharia capital markets. Meanwhile, the Indonesian Islamic capital market was the biggest contributor to the movement of the Japanese sharia capital market.