CORPORATE SUKUK INDONESIA RESPONSE ON MACROECONOMIC CHANGES
Downloads
This study investigates the short-term and long-term responses of changes in macroeconomic variables including exchange rate (EXC), interest rate (IR), inflation (CPI), money supply (JUB), and world oil price (WTI), to the outstanding value of corporate sukuk in Indonesia (SKK) from January 2011 to December 2022. The regression method used is with the Error Correction Model (ECM). The results obtained in this study that in the short term exchange rates, interest rates, inflation, the amount of money in circulation, and the world oil prices have no influence on the outstanding value of Indonesian companies. In the long run, it was found that the exchange rate had a significant negative effect, the money supply had a significant positive influence, while interest rates, inflation and world oil prices did not affect the outstanding value of Indonesian company sukuk.
Copyright (c) 2025 Toni Prihandoko, Sunaryati
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with Airlangga International Journal of Islamic Economics and Finance agree to the following terms:
- Authors retain copyright and grant AIJIEF the right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to remix, adapt and build upon the work with an acknowledgment of the work's authorship and of the initial publication in AIJIEF.
- Authors are permitted to copy and redistribute the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in AIJIEF.
