PENGARUH VARIABEL MAKRO EKONOMI DAN FUNDAMENTAL TERHADAP RETURN SAHAM SYARIAH

Abstract

This research aimed to examine the effect of fundamental and economy macro on the sharia shares return. The variable of fundamental was referred to return on asset, return on equity, current ratio, and earning per share. Meanwhile, the variable of economy macro was referred to interest and exchange rate. The population was some companies which were listed on Indonesia Stock Exchange and at Jakarta Islamic Index 2014-2017. While, the data collection technique used purposive sampling. In line with, there were 55 samples from 16 companies. Furthermore, the data analysis technique used multiple linier regression. The research result concluded return on asset did not affect the sharia shares return. Meanwhile, return on equity did not affect the sharia shares return. Likewise, current ratio did not affect the sharia shares return.Moreover, the earning per share didnot affect the sharia shares return. In addition, the interest rate and exchange ratehad positive affect on the sharia shares return. Moreover, the regression model in this research showed the determination coefficient 0f 0,266. It meant, the dependent variable was affected by all independent variable of 26,6% and the remaining 74,6% was influenced by other variables. Keyword : fundamental, economy macro, sharia shares return