Sharia Stocks During the Days of Susilo Bambang Yodhoyono and Joko Widodo

Abstract

The policies made by each president will affect every stock movement. This study examines the Islamic stocks indexed in JII in each period. This study uses a causality research design with secondary data from 2009 to 2019. The equations were performed using multiple linear regression analysis using Eviews 10. The results showed that from 2009 to 2014, the influencing variables were Imports and Exchange Rates with an Import coefficient value of 0.019688 with a probability level of 0,0013. The exchange rate coefficient is 0,040946 with a probability level of 0,0001. From 2004 to 2019, the influencing variables were the B.I. Rate and the Exchange Rate. The B.I. The rate coefficient value is -18,81403, and the Probability is 0,0039. The exchange rate coefficient is -0,052657, and the probability level is 0,0000. In 2009-2014 the import value of 860 billion US$ indicated that import activities are very high when compared to 2014-2019 of 793 billion US$. The high import value affects the overall stock value. From 2014-to 2019, the average value of the B.I. The rate was 5,85, lower than the average for the previous period of 6,53. The lower B.I. Rate will increase the distribution of funds and affect the value of shares.