Lihan, Irham and Hendrawaty, Ernie and Sejati, Hiro (2022) Analysis of Ramadan Effect on Indonesian Islamic Stock Market: Jakarta Islamic Index (JII) (2016-2020). Asian Journal of Economics, Business and Accounting, 22 (23). pp. 470-480. ISSN 2456-639X

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Abstract

This study aims to determine the effect of Ramadan on the Indonesian Islamic stock market: Jakarta Islamic Index (JII) (2016-2020) which by looking at the difference in return and trading volume activity between Ramadan and non-Ramadan months, this study also aims to determine the difference between the beginning, middle and end of Ramadan. The sample in this study were thirty companies listed on the Jakarta Islamic Index (JII) during Sha'ban, Ramadan and Shawwal from 2016-2020. The data used in this study is secondary data, and the data analysis technique used is the one-way ANOVA test and the Kruskall-Wallis test. The results of this study indicate that Ramadan does not have a positive effect on the Indonesian Islamic stock market: Jakarta Islamic Index (JII), which is indicated by no significant difference in returns and trading volume activity between Ramadan and non-Ramadan. Furthermore, there is no significant difference in return and trading volume activity at the beginning, middle and end of Ramadan

Item Type:	Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Fakultas Ekonomi dan Bisnis (FEB) > Prodi Magister Manajemen
Depositing User:	DR ERNIE HENDRAWATY
Date Deposited:	10 Jan 2023 08:25
Last Modified:	10 Jan 2023 08:25
URI:	http://repository.lppm.unila.ac.id/id/eprint/47679

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