The Holy Months Impact of Islam Toward Stock Price in Jakarta Islamic Index (JII)
Journal Title: Maliki Islamic Economics Journal - Year 2021, Vol 1, Issue 2
Abstract
The purpose of this research is to determine the effect of anomaly calendar towards stock price in haram months (Muharam, Rajab, Zulkaidah, and Zulhijjah) in Jakarta Islamic Index (JII). Population for this research include all stockmarkets under the category of Jakarta Islamic Index (JII) during the period of 1436H–1440H. Samples were chosen using purposive sampling, which include 44 companies. Results showed that there are no difference in JII stock price during holy months of Rajab, Zulkaidah, and Zulhijjah compared to any other period of the same year. This finding means that muslim society in Indonesia did not create an out of ordinary transaction in the market and there will be no significant change during the period of holy months. However, in Muharram, results showed different outcome compared to the other holy months.
Authors and Affiliations
Yusri Rahma Yanti, Guntur Kusuma Wardana, Rini Safitri
Keywords
Related Articles
- EP ID EP717224
- DOI https://doi.org/10.18860/miec.v1i2.13496
- Views 109
- Downloads 0
Finance Performance: Reinvestigation through Intellectual Capital and Good Corporate Governance
Intellectual Capital (IC) management needs to be carried out in banking because knowledge is an important need for a company whose operational activities directly interact with customers, so existing human resources must...
Digipreneurship as an Effort to Strengthen The Digitalization of The Islamic Economy in Indonesia
The digitization of the Islamic economy in Indonesia offers opportunities to strengthen economic growth based on Islamic principles. Through the development of sharia e-commerce platforms, technology-based financial serv...
The Comparative Analysis of Islamic and Conventional Monetary Financial System
This article aims to analyze the uniqueness of Islamic financial instruments compared to conventional financial instruments and to find out what distinguishes the Islamic monetary framework from the standard monetary fra...
Background of The Board of Director and Financial Intermediary: Does It Contribute to The Performance of Islamic Banks?
This study aims to examine the effect of women leadership, education level, financing and investment on the profitability of Islamic banks. The type of data used is secondary data in the form of annual reports of Islamic...
Perspective of Law No. 40 of 2014 Concerning Sharia Life Insurance Business in Risk Management
Sharia life insurance is a coverage or agreement between two parties in which one party is obliged to pay contributions or premiums. In sharia insurance, it is usually a contract in the form of a tijarah agreement and or...