THE IMPACT OF MACROECONOMIC ON ISLAMIC INDEX RETURN: INDONESIA STOCK EXCHANGE

Elsye Fatmawati

Abstract


The purpose of this study to investigate and analyze the impact of volatility and various macroeconomic variables (including inflation rate, exchange rate and wold oil price) on Islamic stock market return . Using multivariate method, we found that the inflation rate, exchange rate and Wold oil price significantly affected on Islamic index return.

Keywords


Islamic Stock Market Return, Macroeconomic Variabels, MS VAR Model

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