DAMPAK FUNDAMENTAL MAKROEKONOMI TERHADAP YIELD SUKUK RITEL DI INDONESIA

• Main Author: Abdullah Dzaky, - (Author)
• Format: Book
• Published: 2019-08-26.
• Subjects: Thesis; NonPeerReviewed
• Online Access: Link Metadata
• Notes: http://repository.upi.edu/40426/2/S_EKI_1504390_Chapter1.pdf; http://repository.upi.edu/40426/3/S_EKI_1504390_Chapter2.pdf; http://repository.upi.edu/40426/4/S_EKI_1504390_Chapter3.pdf; http://repository.upi.edu/40426/5/S_EKI_1504390_Chapter4.pdf; http://repository.upi.edu/40426/6/S_EKI_1504390_Chapter5.pdf; http://repository.upi.edu/40426/7/S_EKI_1504390_Appendix.pdf; http://repository.upi.edu/40426/8/S_EKI_1504390_Title.pdf
• Keywords: HB Economic Theory; HG Finance

Tujuan dari penelitian ini adalah untuk mengetahui dampak faktor-faktor fundamental makroekonomi terhadap yield sukuk ritel di Indonesia dan menganalisis respon sukuk ritel terhadap guncangan variabel makroekonomi. Variabel makroekonomi yang digunakan dalam penelitian ini adalah inflasi, nilai kurs, dan tingkat suku bunga. Penelitian ini menggunakan metodologi Vector Error Correction Model (VECM). Hasil Pengujian VECM menunjukan dalam jangka pendek hanya variabel suku bunga yang berpengaruh secara signifikan terhadap yield sukuk ritel dan memiliki pengaruh yang positif (menaikan yield). Sedangkan dalam jangka panjang yield sukuk ritel dipengaruhi secara signifikan oleh suku bunga dan kurs, dimana suku bunga dapat menurunkan dan kurs dapat menaikan yield sukuk ritel. Adapun dari pengujian Impulse Response Function (IRF) dan Forecast Error Variance Decomposition (FEVD) dapat disimpulkan bahwa kondisi makroekonomi di Indonesia sangat mempengaruhi yield sukuk ritel.;The purpose of this study is to determine impact of macroeconomic fundamentals on yield sukuk ritel in Indonesia and analyze the response of sukuk ritel to macroeconomic variable shocks. Macroeconomic variables used in this study are inflation, exchange rates, and interest rates. This research uses the Vector Error Correction Model (VECM) methodology. VECM testing results show that in the short term only variable interest rates have a significant effect on yield sukuk ritel and have a positive effect (increasing yield). Whereas in the long run, yield sukuk ritel are significantly affected by interest rates and exchange rates, where interest rates can decrease and the exchange rate can increase yield sukuk ritel. As for the Impulse Response Function (IRF) and Forecast Error Variance Decomposition (FEVD) tests, it can be concluded that the macroeconomic conditions in Indonesia greatly affect the yield sukuk ritel.