DETERMINATION OF SHARIA STOCK PRICE THROUGH ANALYSIS OF FUNDAMENTAL FACTORS AND MACRO ECONOMIC FACTORS
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This study aims to analyze and obtain empirical evidence regarding the influence of corporate fundamental and macroeconomic factors on Islamic stock prices listed in the Jakarta Islamic Index (JII). The company's fundamental information is taken from the company's financial statements on the Indonesia Stock Exchange from 2012 to 2016 and Macro Economic Data taken from the official website of the Indonesian Central Statistics Agency. The method of selecting samples used was purposive sampling. The study results were fundamental factors such as Earning per Share (EPS), Return on Assets (ROA), Debt to Equity Ratio (DER) and Exchange Rate significantly influences stock prices. On the other hand, the interest rate has no significant effect on stock prices. The model studied shows that the influence of independent variables on the dependent variable is high, namely 73.4%. It means other factors that can affect stock prices outside the variables studied are worth 26.6%.
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