COVID-19 dan Pasar Modal Syariah: Pendekatan Regresi Korelasi Kanonikal
Keywords:
Covid-19, Islamic Financial Markets, Jakarta Islamic Index, Sukuk
Abstract
Economic growth and activity in 2019–2020 was greatly influenced by the COVID-19 pandemic disease. However, the impact of COVID-19 on investments made in the Islamic financial market has not been examined in research. This research aims to see the influence of the Covid-19 pandemic on the Islamic financial market industry. This research uses quantitative methodology with canonical correlation analysis. Samples were collected from March 3 to August. The movement of the Jakarta Islamic Index and the Covid-19 Movement variable are used to test Sharia Mutual Funds and Sukuk. The results show that the two dependent variables—Jakarta Islamic Index and Sukuk—were not significantly affected by the Covid-19 movement. However, there is one factor that influences Islamic mutual funds positively and significantly. The implications of this research provide a positive outlook for investors and policy makers in managing and developing the Islamic financial sector.
References
Afriani, D., & Halmawati, H. (2019). Pengaruh Cognitive Dissonance Bias, Overconfidence Bias Dan Herding Bias Terhadap Pengambilan Keputusan Investasi. Jurnal Eksplorasi Akuntansi, 1(4), 1650–1665.
Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., & Alhammadi, S. (2020). Death and Contagious Infectious Diseases: Impact of the COVID-19 Virus on Stock Market Returns. Journal of Behavioral and Experimental Finance, 27, 1–5. https://doi.org/10.1016/J.JBEF.2020.100326
Andriani, F. (2020). Investasi reksadana syariah di Indonesia islamic mutual fund investment in Indonesia. AT-TIJARAH: Jurnal Penelitian Keuangan Dan Perbankan Syariah, 2(1), 44–65.
Ashraf, B. N. (2020). Economic Impact of Government Interventions During The COVID-19 Pandemic: International Evidence From Financial Markets. Journal of Behavioral and Experimental Finance, 27, 1–9. https://doi.org/10.1016/j.jbef.2020.100371
Aslam, F., Mohti, W., & Ferreira, P. (2020). Evidence of Intraday Multifractality in European Stock Markets during the Recent Coronavirus (COVID-19) Outbreak. International Journal of Financial Studies, 8(2), 1–13. https://doi.org/10.3390/IJFS8020031
Beik, I. S. (2019). Memperkuat Peran Sukuk Negara Dalam Pembangunan Ekonomi Indonesia. Al-Infaq: Jurnal Ekonomi Islam, 2(2). https://jurnalfai-uikabogor.org/index.php/alinfaq/article/view/385
Ersyafdi, I. R. (2021). Dampak COVID-19 terhadap Tabungan dan Investasi. Jurnal Akuntansi Keuangan Dan Bisnis, 14(2), 191–200.
Ersyafdi, I. R., & Fauziyyah, N. (2021). Dampak COVID-19 Terhadap Tren Sektoral Harga Saham Syariah di Indonesia. Jurnal Iqtisaduna, 7(1), Article 1. https://doi.org/10.24252/iqtisaduna.v7i1.20214
Esomar, M. J. F., & Christianty, R. (2021). Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI. JKBM (Jurnal Konsep Bisnis Dan Manajemen), 7(2), 227–233. https://doi.org/10.31289/JKBM.V7I2.5266
Esterita, T., & Wreksoatmodjo, B. R. (2021). Komplikasi Sistem Saraf Pusat pada COVID-19. Cermin Dunia Kedokteran, 48(11), 334–340.
Faizah, I., Fasa, M. I., Suharto, Rahmanto, D. N. A., & Athief, F. H. N. (2019). Determinants of Domestic Direct Investment in Indonesia: Islamic Economic Approach. JEJAK: Jurnal Ekonomi Dan Kebijakan, 12(2), 282–297. https://doi.org/10.15294/JEJAK.V12I2.20973
Fattah, H., Riodini, I., Jamaludin, Hasibuan, S. W., Ady, D. N., Rahmanto, Layli, M., Nasrulloh, Ishak, Holle, M. H., Arsyad, K., Aziz, A., Santoso, W. P., Mutakin, A., Naelati Tubastuvi, Hasan, N., Misno, Mardani, D. A., Shiddieqy, H. A., … Marzuki. (2022). Fintech dan Keuangan Islam: Teori dan Praktik. In Fintech dan Keuangan Islam: Teori dan Praktik. Publica Indonesia Utama. https://doi.org/10.55216/PUBLICA.17
Fauci, A. S., Lane, H. C., & Redfield, R. R. (2020). Covid-19—Navigating the Uncharted. New England Journal of Medicine, 382(13), 1268–1269. https://doi.org/10.1056/NEJME2002387
Giudice, V. Del, Paola, P. De, & Giudice, F. P. Del. (2020). Covid-19 Infects Real Estate Markets: Short and Mid-Run Effects on Housing Prices in Campania Region (Italy). Social Sciences, 9(7), 17–28. https://doi.org/10.3390/socsci9070114
Habibi, M., & Pratama, D. A. (2021). Dampak Pandemi COVID-19 terhadap capaian sustainable development goals (SDGs): The impact of the Covid-19 pandemic on the achievement of sustainable development goals [SDGs]. Journal of Government Science (GovSci): Jurnal Ilmu Pemerintahan, 2(2), 68–80.
Hairunisa, N., Kesehatan, H. A.-J. B. D., & 2020, undefined. (2020). Penyakit virus corona baru 2019 (COVID-19). Jbiomedkes.Org, 3(2). https://doi.org/10.18051/JBiomedKes.2020
Hartono, B., Purnomo, A. S. D., & Andhini, M. M. (2020). Perilaku Investor Saham Individu Dalam Perpektif Teori Mental Accounts. Competence: Journal of Management Studies, 14(2), 173–183.
Herninta, T., & Rahayu, R. A. (2021). Dampak pandemi covid-19 terhadap harga saham perusahaan sektor industri barang konsumsi yang terdaftar di bursa efek Indonesia. Jurnal Manajemen Bisnis, 24(1), 56–63.
Ilhami, & Thamrin, H. (2021). Analisis Dampak Covid 19 Terhadap Kinerja Keuangan Perbankan Syariah di Indonesia. Jurnal Tabarru’: Islamic Banking and Finance, 4(1), 37–45. https://doi.org/10.25299/JTB.2021.VOL4(1).6068
Iqbal, M., Muttaqin, F., Zuhro, F., & Rachmania, R. (2020). MENAKAR KEMASLAHATAN REKSADANA SYARIAH DALAM PERSPEKTIF MAQASHID SYARIAH. I-ECONOMICS: A Research Journal on Islamic Economics, 6(2), 179–193.
Irawan, I., & Siregar, Z. A. (2019). Pengaruh Pasar Modal Syariah terhadap Pertumbuhan Ekonomi Indonesia. Prosiding Seminar Nasional Ilmu Sosial Dan Teknologi (SNISTEK), 2, 97–102. http://ejournal.upbatam.ac.id/index.php/prosiding/article/view/1514
Junaedi, D., & Salistia, F. (2020). Dampak Pandemi COVID-19 Terhadap Pertumbuhan Ekonomi Negara-Negara Terdampak. Simposium Nasional Keuangan Negara, 2(1), 995–1013.
Kabir, A., Merrill, R. D., Shamim, A. A., Klemn, R. D. W., Labrique, A. B., Christian, P., West, K. P., & Nasser, M. (2014). Canonical Correlation Analysis of Infant’s Size at Birth and Maternal Factors: A Study in Rural Northwest Bangladesh. PLoS One, 9(4), 1–8. https://doi.org/10.1371/JOURNAL.PONE.0094243
Karno, R., & Martinouva, R. A. (2021). Investasi Reksadana Syariah Di Aplikasi Bibit. ASAS: Jurnal Hukum Ekonomi Syariah, 13(2), 117–124.
Kasnelly, S. (2021). Sukuk Dalam Perkembangan Keuangan Syariah Di Indonesia. Aktualita: Jurnal Penelitian Sosial Keagamaan, 11(1), 1–14.
Keramati, A., & Behmanesh, I. (2010). Assessing The Impact of Information Technology on Firm Performance Using Canonical Correlation Analysis. International Journal of Business Information Systems, 6(4), 497–513.
Komarudin, M. N., Kuntara, T. M., & Djuniardi, D. (2021). Analisis Kinerja Portofolio Reksadana Pada Masa Pandemi Covid-19 (Studi kasus pada reksadana saham yang terdaftar di bursa efek Indonesia 2020). Indonesian Journal of Strategic Management, 4(2). https://journal.uniku.ac.id/index.php/ijsm/article/view/5742
Kusno, F. (2020). Krisis Politik Ekonomi Global Dampak Pandemi Covid-19. Anterior Jurnal, 19(2), Article 2. https://doi.org/10.33084/anterior.v19i2.1495
Laessig, R. E., & Duckett, E. J. (1979). Canonical Correlation Analysis: Potential for Environmental Health Planning. American Journal of Public Health, 69(4), 359. https://doi.org/10.2105/AJPH.69.4.353
Latifah, Si. (2020). Peran Sukuk Surat Berharga Syariah Negara (SBSN) dalam Pertumbuhan Pembangunan Ekonomi Indonesia. Jurnal Ilmiah Ekonomi Islam, 6(3), 421–427.
Lee, H. S. (2020). Exploring the Initial Impact of COVID-19 Sentiment on US Stock Market Using Big Data. Sustainability, 12(16), 1–19. https://doi.org/10.3390/SU12166648
Liu, H., Manzoor, A., Wang, C., Zhang, L., & Manzoor, Z. (2020). The COVID-19 Outbreak and Affected Countries Stock Markets Response. International Journal of Environmental Research and Public Health, 17(8), 1–19. https://doi.org/10.3390/IJERPH17082800
Mahyuda, I. S., Putri, F. R., & Putri, B. S. (2021). Urgensi Reksadana sebagai Salah Satu Opsi Investasi untuk Meningkatkan Jumlah Investor di Indonesia. Jurnal Pendidikan Tambusai, 5(3), 11088–11093.
Malik, A. D. (2017). Analisa faktor–faktor yang mempengaruhi minat masyarakat berinvestasi di pasar modal syariah melalui Bursa Galeri Investasi UISI. Jurnal Ekonomi Dan Bisnis Islam, 3(1), 61–84.
Mazur, M., Dang, M., & Vega, M. (2021). COVID-19 and The March 2020 Stock Market Crash. Evidence from S&P1500. Finance Research Letters, 38, 1–8. https://doi.org/10.1016/J.FRL.2020.101690
Midesia, S. (2020). Dampak Covid-19 pada pasar saham syariah di Indonesia. Jurnal Penelitian Ekonomi Akuntansi (JENSI), 4(1), 68–79.
Mirza, N., Naqvi, B., Rahat, B., & Rizvi, S. K. A. (2020). Price Reaction, Volatility Timing and Funds’ Performance During Covid-19. Finance Research Letters, 36, 1–8. https://doi.org/10.1016/J.FRL.2020.101657
Mnif, E., Jarboui, A., & Mouakhar, K. (2020). How The Cryptocurrency Market has Performed During COVID 19? A Multifractal Analysis. Finance Research Letters, 36, 1–14. https://doi.org/10.1016/J.FRL.2020.101647
Modjo, M. I. (2020). Memetakan jalan penguatan ekonomi pasca pandemi. Jurnal Perencanaan Pembangunan: The Indonesian Journal of Development Planning, 4(2), 103–116.
Muhari, S. (2021). Kinerja Jakarta Islamic Index Dimasa Pandemi Covid-19 Tahun 2020. Al-Mizan: Jurnal Hukum Dan Ekonomi Islam, 5(1), 60–76.
Murtadho, M., & Fattah, A. (2021). Studi Pengukuran Ketahanan Indeks Harga Saham Akibat Dampak Pandemi Covid 19 (Studi Kasus Di Bursa Tiga Negara Asean). E-Jurnal Kewirausahaan, 4(1), 71–77.
Ngwakwe, C. C. (2020). Effect of COVID-19 Pandemic on Global Stock Market Values: A Differential Analysis. Œconomica, 16(2), 255–269.
Nwokolo, C. I., Ogbuagu, M. I., & Iwegbu, O. (2020). Impact of Coronavirus Pandemic on the Global Economy: Demand and Supply Shock. Economic Sciences Series, XX(1), 50–60.
Ortmann, R., Pelster, M., & Wengerek, S. T. (2020). COVID-19 and Investor Behavior. Finance Research Letters, 1–18. https://doi.org/10.2139/SSRN.3589443
Pasarela, H., & Fakhrurradhi, F. (2021). Analisis Peran Sukuk dalam Menunjang Pembangunan Ekonomi Nasional. Mubeza, 11(1), 58–62.
Pratitis, F. A., & Setiyono, T. A. (2021). Komparasi Indeks Saham Syariah Indonesia (ISSI) Sebelum dan Saat Pandemi Covid-19. JIEF: Journal of Islamic Economics and Finance, 1(1), 68–79.
Rahmani, A. N. (2020). Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan. Kajian Akuntansi, 21(2), 252–269. https://doi.org/10.29313/KA.V21I2.6436
Rahmanto, D. N. A., Fasa, M. I., & Rijal, K. (2020). Source of Funds and Islamic Insurance Growth: Investment Returns as a Mediation. Al-Uqud : Journal of Islamic Economics, 4(1), 104–114. https://doi.org/10.26740/AL-UQUD.V4N1.P104-114
Rajendra, M. M. A., Kumar, D. V., & Nedelea, A. M. (2020). Today’s Business World and Coronavirus (COVID-19). Ecoforum Journal, 9(2).
Rapini, T., Farida, U., & Putro, R. L. (2021). Eksistensi Kinerja Reksadana Syariah Pada Era New Normal. Jurnal Tabarru’: Islamic Banking and Finance, 4(2), 356–368.
Ribeiro, J. C., da Silva, L. P., Caetano, G. da C., Crispim, A. C., Pacheco, R. de O., & Torres, R. de A. (2016). Canonical Correlation Analysis Applied to Production and Reproduction Traits of Meat Type Quails. Ciencia Rural, 46(7), 1289–1294. https://doi.org/10.1590/0103-8478CR20150215
Roynaldi, D. (2021). Reksadana dalam Prespektif Syari’ah. Jurnal Tahkim, 17(1), 148–158.
Safitriawati, T., Ulfah, I. F., & Widayati, N. (2021). Optimalisasi Investasi Dana Haji Melalui Sukuk Dan Deposito Bank Syariah Terhadap Pengembangan Dana Haji Di Indonesia Periode 2016-2019. BISEI: Jurnal Bisnis Dan Ekonomi Islam, 6(01), 1–12.
Sari, D. P. F., & Hana, K. F. (2020). Peran sukuk terhadap pembangunan infrastruktur. Al-Mutharahah: Jurnal Penelitian Dan Kajian Sosial Keagamaan, 17(1), 87–103.
Sari, I. (2020). Analisis dampak pandemi COVID-19 terhadap kecemasan masyarakat: Literature review. Bina Generasi: Jurnal Kesehatan, 12(1), 69–76.
Sarker, P. K. (2020). Crisis: Fiscal, Monetary and Macro-Financial Policy Responses. Theoretical and Applied Economics, 3, 1–18. https://doi.org/10.2139/ssrn.3601524
Shruthi, M. S., & Ramani, D. (2021). Statistical Analysis of Impact of COVID 19 on India Commodity Markets. Materials Today. Proceedings, 37, 2306–2311. https://doi.org/10.1016/j.matpr.2020.07.729
Silva, F. M. da, Ferreira, M. P., Serra, F. R., & Pinto, C. F. (2019). Government Attenuation of Institutional Inefficiencies in Capital Markets: Influence on The Financial Performance of Brazilian electricity distribution companies. Utilities Policy, 60. https://doi.org/10.1016/J.JUP.2019.100940
Sitohang, S. A., Marbun, T. E. R., & Wudjud, W. S. (2021). Efektivitas Penerapan Kebijakan Trading Halt Dalam Mencegah Panic Selling Akibat Pandemi Covid-19 (Study Pada Bursa Efek Indonesia Tahun 2020). Jurnal Ilmiah Simantek, 5(4), 78–84.
Stanciu, S., Radu, R. I., Sapira, V., Bratoveanu, B. D., & Florea, A. M. (2020). Consumer Behavior in Crisis Situations. Research on the Effects of COVID-19 in Romania. Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics, 26(1), 5–13. https://doi.org/10.35219/EAI1584040975
Tisdell, C. A. (2020). Economic, Social and Political Issues Raised by The COVID-19 Pandemic. Economic Analysis and Policy, 68, 17–28. https://doi.org/10.1016/j.eap.2020.08.002
Topcu, M., & Gulal, O. S. (2020). The Impact of COVID-19 on Emerging Stock Markets. Finance Research Letters, 36. https://doi.org/10.1016/J.FRL.2020.101691
Utami, A. A. P., & Artini, L. G. S. (2018). Komparasi reksadana saham perusahaaninvestasi nasional dan asing di indonesia dilihat dari kinerja, market timing dan stock selection. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 7, 649–678.
Wahyuni, M. A. (2018). Perbandingan efek beragun aset syariah dengan efek beragun aset konvensional. NISBAH: Jurnal Perbankan Syariah, 4(1), 92–109.
Wang, X., Luo, Y., Wang, Z., Xu, Y., & Wu, C. (2021). The Impact of Economic Policy Uncertainty on Volatility of China’s Financial Stocks: An Empirical Analysis. Finance Research Letters, 39, 1–13. https://doi.org/10.1016/j.frl.2020.101650
Widiyanti, M., & Sari, N. (2019). Kajian Pasar Modal Syariah Dalam Mempengaruhi Pertumbuhan Ekonomi di Indonesia. Jurnal Ekonomikawan, 19(1), 455072.
Al-Awadhi, A. M., Alsaifi, K., Al-Awadhi, A., & Alhammadi, S. (2020). Death and Contagious Infectious Diseases: Impact of the COVID-19 Virus on Stock Market Returns. Journal of Behavioral and Experimental Finance, 27, 1–5. https://doi.org/10.1016/J.JBEF.2020.100326
Andriani, F. (2020). Investasi reksadana syariah di Indonesia islamic mutual fund investment in Indonesia. AT-TIJARAH: Jurnal Penelitian Keuangan Dan Perbankan Syariah, 2(1), 44–65.
Ashraf, B. N. (2020). Economic Impact of Government Interventions During The COVID-19 Pandemic: International Evidence From Financial Markets. Journal of Behavioral and Experimental Finance, 27, 1–9. https://doi.org/10.1016/j.jbef.2020.100371
Aslam, F., Mohti, W., & Ferreira, P. (2020). Evidence of Intraday Multifractality in European Stock Markets during the Recent Coronavirus (COVID-19) Outbreak. International Journal of Financial Studies, 8(2), 1–13. https://doi.org/10.3390/IJFS8020031
Beik, I. S. (2019). Memperkuat Peran Sukuk Negara Dalam Pembangunan Ekonomi Indonesia. Al-Infaq: Jurnal Ekonomi Islam, 2(2). https://jurnalfai-uikabogor.org/index.php/alinfaq/article/view/385
Ersyafdi, I. R. (2021). Dampak COVID-19 terhadap Tabungan dan Investasi. Jurnal Akuntansi Keuangan Dan Bisnis, 14(2), 191–200.
Ersyafdi, I. R., & Fauziyyah, N. (2021). Dampak COVID-19 Terhadap Tren Sektoral Harga Saham Syariah di Indonesia. Jurnal Iqtisaduna, 7(1), Article 1. https://doi.org/10.24252/iqtisaduna.v7i1.20214
Esomar, M. J. F., & Christianty, R. (2021). Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI. JKBM (Jurnal Konsep Bisnis Dan Manajemen), 7(2), 227–233. https://doi.org/10.31289/JKBM.V7I2.5266
Esterita, T., & Wreksoatmodjo, B. R. (2021). Komplikasi Sistem Saraf Pusat pada COVID-19. Cermin Dunia Kedokteran, 48(11), 334–340.
Faizah, I., Fasa, M. I., Suharto, Rahmanto, D. N. A., & Athief, F. H. N. (2019). Determinants of Domestic Direct Investment in Indonesia: Islamic Economic Approach. JEJAK: Jurnal Ekonomi Dan Kebijakan, 12(2), 282–297. https://doi.org/10.15294/JEJAK.V12I2.20973
Fattah, H., Riodini, I., Jamaludin, Hasibuan, S. W., Ady, D. N., Rahmanto, Layli, M., Nasrulloh, Ishak, Holle, M. H., Arsyad, K., Aziz, A., Santoso, W. P., Mutakin, A., Naelati Tubastuvi, Hasan, N., Misno, Mardani, D. A., Shiddieqy, H. A., … Marzuki. (2022). Fintech dan Keuangan Islam: Teori dan Praktik. In Fintech dan Keuangan Islam: Teori dan Praktik. Publica Indonesia Utama. https://doi.org/10.55216/PUBLICA.17
Fauci, A. S., Lane, H. C., & Redfield, R. R. (2020). Covid-19—Navigating the Uncharted. New England Journal of Medicine, 382(13), 1268–1269. https://doi.org/10.1056/NEJME2002387
Giudice, V. Del, Paola, P. De, & Giudice, F. P. Del. (2020). Covid-19 Infects Real Estate Markets: Short and Mid-Run Effects on Housing Prices in Campania Region (Italy). Social Sciences, 9(7), 17–28. https://doi.org/10.3390/socsci9070114
Habibi, M., & Pratama, D. A. (2021). Dampak Pandemi COVID-19 terhadap capaian sustainable development goals (SDGs): The impact of the Covid-19 pandemic on the achievement of sustainable development goals [SDGs]. Journal of Government Science (GovSci): Jurnal Ilmu Pemerintahan, 2(2), 68–80.
Hairunisa, N., Kesehatan, H. A.-J. B. D., & 2020, undefined. (2020). Penyakit virus corona baru 2019 (COVID-19). Jbiomedkes.Org, 3(2). https://doi.org/10.18051/JBiomedKes.2020
Hartono, B., Purnomo, A. S. D., & Andhini, M. M. (2020). Perilaku Investor Saham Individu Dalam Perpektif Teori Mental Accounts. Competence: Journal of Management Studies, 14(2), 173–183.
Herninta, T., & Rahayu, R. A. (2021). Dampak pandemi covid-19 terhadap harga saham perusahaan sektor industri barang konsumsi yang terdaftar di bursa efek Indonesia. Jurnal Manajemen Bisnis, 24(1), 56–63.
Ilhami, & Thamrin, H. (2021). Analisis Dampak Covid 19 Terhadap Kinerja Keuangan Perbankan Syariah di Indonesia. Jurnal Tabarru’: Islamic Banking and Finance, 4(1), 37–45. https://doi.org/10.25299/JTB.2021.VOL4(1).6068
Iqbal, M., Muttaqin, F., Zuhro, F., & Rachmania, R. (2020). MENAKAR KEMASLAHATAN REKSADANA SYARIAH DALAM PERSPEKTIF MAQASHID SYARIAH. I-ECONOMICS: A Research Journal on Islamic Economics, 6(2), 179–193.
Irawan, I., & Siregar, Z. A. (2019). Pengaruh Pasar Modal Syariah terhadap Pertumbuhan Ekonomi Indonesia. Prosiding Seminar Nasional Ilmu Sosial Dan Teknologi (SNISTEK), 2, 97–102. http://ejournal.upbatam.ac.id/index.php/prosiding/article/view/1514
Junaedi, D., & Salistia, F. (2020). Dampak Pandemi COVID-19 Terhadap Pertumbuhan Ekonomi Negara-Negara Terdampak. Simposium Nasional Keuangan Negara, 2(1), 995–1013.
Kabir, A., Merrill, R. D., Shamim, A. A., Klemn, R. D. W., Labrique, A. B., Christian, P., West, K. P., & Nasser, M. (2014). Canonical Correlation Analysis of Infant’s Size at Birth and Maternal Factors: A Study in Rural Northwest Bangladesh. PLoS One, 9(4), 1–8. https://doi.org/10.1371/JOURNAL.PONE.0094243
Karno, R., & Martinouva, R. A. (2021). Investasi Reksadana Syariah Di Aplikasi Bibit. ASAS: Jurnal Hukum Ekonomi Syariah, 13(2), 117–124.
Kasnelly, S. (2021). Sukuk Dalam Perkembangan Keuangan Syariah Di Indonesia. Aktualita: Jurnal Penelitian Sosial Keagamaan, 11(1), 1–14.
Keramati, A., & Behmanesh, I. (2010). Assessing The Impact of Information Technology on Firm Performance Using Canonical Correlation Analysis. International Journal of Business Information Systems, 6(4), 497–513.
Komarudin, M. N., Kuntara, T. M., & Djuniardi, D. (2021). Analisis Kinerja Portofolio Reksadana Pada Masa Pandemi Covid-19 (Studi kasus pada reksadana saham yang terdaftar di bursa efek Indonesia 2020). Indonesian Journal of Strategic Management, 4(2). https://journal.uniku.ac.id/index.php/ijsm/article/view/5742
Kusno, F. (2020). Krisis Politik Ekonomi Global Dampak Pandemi Covid-19. Anterior Jurnal, 19(2), Article 2. https://doi.org/10.33084/anterior.v19i2.1495
Laessig, R. E., & Duckett, E. J. (1979). Canonical Correlation Analysis: Potential for Environmental Health Planning. American Journal of Public Health, 69(4), 359. https://doi.org/10.2105/AJPH.69.4.353
Latifah, Si. (2020). Peran Sukuk Surat Berharga Syariah Negara (SBSN) dalam Pertumbuhan Pembangunan Ekonomi Indonesia. Jurnal Ilmiah Ekonomi Islam, 6(3), 421–427.
Lee, H. S. (2020). Exploring the Initial Impact of COVID-19 Sentiment on US Stock Market Using Big Data. Sustainability, 12(16), 1–19. https://doi.org/10.3390/SU12166648
Liu, H., Manzoor, A., Wang, C., Zhang, L., & Manzoor, Z. (2020). The COVID-19 Outbreak and Affected Countries Stock Markets Response. International Journal of Environmental Research and Public Health, 17(8), 1–19. https://doi.org/10.3390/IJERPH17082800
Mahyuda, I. S., Putri, F. R., & Putri, B. S. (2021). Urgensi Reksadana sebagai Salah Satu Opsi Investasi untuk Meningkatkan Jumlah Investor di Indonesia. Jurnal Pendidikan Tambusai, 5(3), 11088–11093.
Malik, A. D. (2017). Analisa faktor–faktor yang mempengaruhi minat masyarakat berinvestasi di pasar modal syariah melalui Bursa Galeri Investasi UISI. Jurnal Ekonomi Dan Bisnis Islam, 3(1), 61–84.
Mazur, M., Dang, M., & Vega, M. (2021). COVID-19 and The March 2020 Stock Market Crash. Evidence from S&P1500. Finance Research Letters, 38, 1–8. https://doi.org/10.1016/J.FRL.2020.101690
Midesia, S. (2020). Dampak Covid-19 pada pasar saham syariah di Indonesia. Jurnal Penelitian Ekonomi Akuntansi (JENSI), 4(1), 68–79.
Mirza, N., Naqvi, B., Rahat, B., & Rizvi, S. K. A. (2020). Price Reaction, Volatility Timing and Funds’ Performance During Covid-19. Finance Research Letters, 36, 1–8. https://doi.org/10.1016/J.FRL.2020.101657
Mnif, E., Jarboui, A., & Mouakhar, K. (2020). How The Cryptocurrency Market has Performed During COVID 19? A Multifractal Analysis. Finance Research Letters, 36, 1–14. https://doi.org/10.1016/J.FRL.2020.101647
Modjo, M. I. (2020). Memetakan jalan penguatan ekonomi pasca pandemi. Jurnal Perencanaan Pembangunan: The Indonesian Journal of Development Planning, 4(2), 103–116.
Muhari, S. (2021). Kinerja Jakarta Islamic Index Dimasa Pandemi Covid-19 Tahun 2020. Al-Mizan: Jurnal Hukum Dan Ekonomi Islam, 5(1), 60–76.
Murtadho, M., & Fattah, A. (2021). Studi Pengukuran Ketahanan Indeks Harga Saham Akibat Dampak Pandemi Covid 19 (Studi Kasus Di Bursa Tiga Negara Asean). E-Jurnal Kewirausahaan, 4(1), 71–77.
Ngwakwe, C. C. (2020). Effect of COVID-19 Pandemic on Global Stock Market Values: A Differential Analysis. Œconomica, 16(2), 255–269.
Nwokolo, C. I., Ogbuagu, M. I., & Iwegbu, O. (2020). Impact of Coronavirus Pandemic on the Global Economy: Demand and Supply Shock. Economic Sciences Series, XX(1), 50–60.
Ortmann, R., Pelster, M., & Wengerek, S. T. (2020). COVID-19 and Investor Behavior. Finance Research Letters, 1–18. https://doi.org/10.2139/SSRN.3589443
Pasarela, H., & Fakhrurradhi, F. (2021). Analisis Peran Sukuk dalam Menunjang Pembangunan Ekonomi Nasional. Mubeza, 11(1), 58–62.
Pratitis, F. A., & Setiyono, T. A. (2021). Komparasi Indeks Saham Syariah Indonesia (ISSI) Sebelum dan Saat Pandemi Covid-19. JIEF: Journal of Islamic Economics and Finance, 1(1), 68–79.
Rahmani, A. N. (2020). Dampak Covid-19 Terhadap Harga Saham dan Kinerja Keuangan Perusahaan. Kajian Akuntansi, 21(2), 252–269. https://doi.org/10.29313/KA.V21I2.6436
Rahmanto, D. N. A., Fasa, M. I., & Rijal, K. (2020). Source of Funds and Islamic Insurance Growth: Investment Returns as a Mediation. Al-Uqud : Journal of Islamic Economics, 4(1), 104–114. https://doi.org/10.26740/AL-UQUD.V4N1.P104-114
Rajendra, M. M. A., Kumar, D. V., & Nedelea, A. M. (2020). Today’s Business World and Coronavirus (COVID-19). Ecoforum Journal, 9(2).
Rapini, T., Farida, U., & Putro, R. L. (2021). Eksistensi Kinerja Reksadana Syariah Pada Era New Normal. Jurnal Tabarru’: Islamic Banking and Finance, 4(2), 356–368.
Ribeiro, J. C., da Silva, L. P., Caetano, G. da C., Crispim, A. C., Pacheco, R. de O., & Torres, R. de A. (2016). Canonical Correlation Analysis Applied to Production and Reproduction Traits of Meat Type Quails. Ciencia Rural, 46(7), 1289–1294. https://doi.org/10.1590/0103-8478CR20150215
Roynaldi, D. (2021). Reksadana dalam Prespektif Syari’ah. Jurnal Tahkim, 17(1), 148–158.
Safitriawati, T., Ulfah, I. F., & Widayati, N. (2021). Optimalisasi Investasi Dana Haji Melalui Sukuk Dan Deposito Bank Syariah Terhadap Pengembangan Dana Haji Di Indonesia Periode 2016-2019. BISEI: Jurnal Bisnis Dan Ekonomi Islam, 6(01), 1–12.
Sari, D. P. F., & Hana, K. F. (2020). Peran sukuk terhadap pembangunan infrastruktur. Al-Mutharahah: Jurnal Penelitian Dan Kajian Sosial Keagamaan, 17(1), 87–103.
Sari, I. (2020). Analisis dampak pandemi COVID-19 terhadap kecemasan masyarakat: Literature review. Bina Generasi: Jurnal Kesehatan, 12(1), 69–76.
Sarker, P. K. (2020). Crisis: Fiscal, Monetary and Macro-Financial Policy Responses. Theoretical and Applied Economics, 3, 1–18. https://doi.org/10.2139/ssrn.3601524
Shruthi, M. S., & Ramani, D. (2021). Statistical Analysis of Impact of COVID 19 on India Commodity Markets. Materials Today. Proceedings, 37, 2306–2311. https://doi.org/10.1016/j.matpr.2020.07.729
Silva, F. M. da, Ferreira, M. P., Serra, F. R., & Pinto, C. F. (2019). Government Attenuation of Institutional Inefficiencies in Capital Markets: Influence on The Financial Performance of Brazilian electricity distribution companies. Utilities Policy, 60. https://doi.org/10.1016/J.JUP.2019.100940
Sitohang, S. A., Marbun, T. E. R., & Wudjud, W. S. (2021). Efektivitas Penerapan Kebijakan Trading Halt Dalam Mencegah Panic Selling Akibat Pandemi Covid-19 (Study Pada Bursa Efek Indonesia Tahun 2020). Jurnal Ilmiah Simantek, 5(4), 78–84.
Stanciu, S., Radu, R. I., Sapira, V., Bratoveanu, B. D., & Florea, A. M. (2020). Consumer Behavior in Crisis Situations. Research on the Effects of COVID-19 in Romania. Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics, 26(1), 5–13. https://doi.org/10.35219/EAI1584040975
Tisdell, C. A. (2020). Economic, Social and Political Issues Raised by The COVID-19 Pandemic. Economic Analysis and Policy, 68, 17–28. https://doi.org/10.1016/j.eap.2020.08.002
Topcu, M., & Gulal, O. S. (2020). The Impact of COVID-19 on Emerging Stock Markets. Finance Research Letters, 36. https://doi.org/10.1016/J.FRL.2020.101691
Utami, A. A. P., & Artini, L. G. S. (2018). Komparasi reksadana saham perusahaaninvestasi nasional dan asing di indonesia dilihat dari kinerja, market timing dan stock selection. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 7, 649–678.
Wahyuni, M. A. (2018). Perbandingan efek beragun aset syariah dengan efek beragun aset konvensional. NISBAH: Jurnal Perbankan Syariah, 4(1), 92–109.
Wang, X., Luo, Y., Wang, Z., Xu, Y., & Wu, C. (2021). The Impact of Economic Policy Uncertainty on Volatility of China’s Financial Stocks: An Empirical Analysis. Finance Research Letters, 39, 1–13. https://doi.org/10.1016/j.frl.2020.101650
Widiyanti, M., & Sari, N. (2019). Kajian Pasar Modal Syariah Dalam Mempengaruhi Pertumbuhan Ekonomi di Indonesia. Jurnal Ekonomikawan, 19(1), 455072.
Published
2022-12-31
Section
Articles
Copyright (c) 2022 Al-Tijary
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
