The Effect of Macro Economics on Sharia Mutual Fund Performance with Jakarta Islamic Index (JII) as Intervening Variable

Hartanto, Dicki and Amir, Amri and Machpudin, Asep and Lubis, Tona Aurora (2018) The Effect of Macro Economics on Sharia Mutual Fund Performance with Jakarta Islamic Index (JII) as Intervening Variable. International Journal Of Economics and Research, 9 (3). pp. 1-11. ISSN 2229-6158

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Abstract

This research is based on the phenomenon of low investment of sharia mutual fund compared to conventional one, while the moslem population in Indonesia is very big. Compared to Malaysia with smaller muslim population, however, all sharia-based investments are much greater, including Islamic mutual funds. The purpose of this research is to know the performance of sharia mutual fund at period of 2010-2016 and to analize the effect of macro economies on sharia mutual fund with Jakarta Islamic Index (JII) as intervening variable. This research uses quantitative methods. The population is the entire sharia mutual fund registered in OJK during the period of January 2010 to December 2016 with the number of selected samples is 23 active mutual fund samples per year active and recorded in OJK and the sharia mutual fund data collected with time-sequence data series from the average monthly sample of sharia mutual funds in January 2010 to December 2016 (84 observations). This research uses SEM (Structural Equation Model) model whose data is processed and analyzed using WarpPLS version 5.0 software. The findings of study concluded that there is a macroeconomic effect on the performance of Islamic mutual funds, there is a macroeconomic effect on JII, there is a JII influence on the performance of Islamic mutual funds and Jakarta Islamic Index (JII) as intervening variable mediates the effect of macro economy on the performance of sharia mutual fund in partial mediation. Keywords : Macro Economics, Sharia Mutual Fund Performance, JII

Type:	Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Fakultas Ekonomi dan Bisnis > Manajemen
Depositing User:	Lubis
Date Deposited:	19 Mar 2021 02:28
Last Modified:	19 Mar 2021 02:28
URI:	https://repository.unja.ac.id/id/eprint/18063

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