HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS?
<p>This study was conducted to assess the performance of Jakarta Islamic Index (JII) stocks and also investigate whether there was an ethical effect (JII selection restriction) and compare it with non-Sharia stocks. The main model used in this study was the Capital Asset Pricing Model (CAPM) s...
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| Format: | Article |
| Language: | English |
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Universitas Negeri Semarang
2015-09-01
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| Series: | Jurnal Dinamika Manajemen |
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| Online Access: | https://journal.unnes.ac.id/nju/index.php/jdm/article/view/4303 |
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| author | Erna Listyaningsih Chandrasekhar Krishnamurti |
| author_facet | Erna Listyaningsih Chandrasekhar Krishnamurti |
| author_sort | Erna Listyaningsih |
| collection | DOAJ |
| description | <p>This study was conducted to assess the performance of Jakarta Islamic Index (JII) stocks and also investigate whether there was an ethical effect (JII selection restriction) and compare it with non-Sharia stocks. The main model used in this study was the Capital Asset Pricing Model (CAPM) single index model extended to the Fama and French three factors. This study employs elaborate matching data. The data used in this study was split into two periods: the 2005-2007 periods which consists of two groups: JII and non-JII and the 2008-2012 periods which consists of three groups: JII, Sharia and non-Sharia based on industry sector. This study found that basically there was no difference on performance between JII and non-JII stocks. Therefore, this result supports the previous studies in which there were no significant differences between Sharia and conventional investment.</p> |
| format | Article |
| id | doaj-art-2172ec430ea145d2b42cd18c8fa0d969 |
| institution | DOAJ |
| issn | 2086-0668 2337-5434 |
| language | English |
| publishDate | 2015-09-01 |
| publisher | Universitas Negeri Semarang |
| record_format | Article |
| series | Jurnal Dinamika Manajemen |
| spelling | doaj-art-2172ec430ea145d2b42cd18c8fa0d9692025-08-20T03:17:54ZengUniversitas Negeri SemarangJurnal Dinamika Manajemen2086-06682337-54342015-09-016210.15294/jdm.v6i2.43033494HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS?Erna Listyaningsih0Chandrasekhar Krishnamurti1Fakultas Ekonomi, Universitas MalahayatiFakultas Ekonomi, Universitas Malahayati<p>This study was conducted to assess the performance of Jakarta Islamic Index (JII) stocks and also investigate whether there was an ethical effect (JII selection restriction) and compare it with non-Sharia stocks. The main model used in this study was the Capital Asset Pricing Model (CAPM) single index model extended to the Fama and French three factors. This study employs elaborate matching data. The data used in this study was split into two periods: the 2005-2007 periods which consists of two groups: JII and non-JII and the 2008-2012 periods which consists of three groups: JII, Sharia and non-Sharia based on industry sector. This study found that basically there was no difference on performance between JII and non-JII stocks. Therefore, this result supports the previous studies in which there were no significant differences between Sharia and conventional investment.</p>https://journal.unnes.ac.id/nju/index.php/jdm/article/view/4303Jakarta Islamic Index (JII)Ethical InvestmentCAPMMatching Data |
| spellingShingle | Erna Listyaningsih Chandrasekhar Krishnamurti HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? Jurnal Dinamika Manajemen Jakarta Islamic Index (JII) Ethical Investment CAPM Matching Data |
| title | HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? |
| title_full | HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? |
| title_fullStr | HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? |
| title_full_unstemmed | HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? |
| title_short | HOW PERFORMANCE OF JAKARTA ISLAMIC INDEX (JII) STOCKS RELATIVE TO OTHER STOCKS? |
| title_sort | how performance of jakarta islamic index jii stocks relative to other stocks |
| topic | Jakarta Islamic Index (JII) Ethical Investment CAPM Matching Data |
| url | https://journal.unnes.ac.id/nju/index.php/jdm/article/view/4303 |
| work_keys_str_mv | AT ernalistyaningsih howperformanceofjakartaislamicindexjiistocksrelativetootherstocks AT chandrasekharkrishnamurti howperformanceofjakartaislamicindexjiistocksrelativetootherstocks |