Al-Farisi, Muhammad Rizki (2019) Pengaruh Inflasi, Jumlah Uang Beredar, Kurs, Dan Yield Sertifikat Bank Indonesia Syariah (Sbis) Terhadap Yield Surat Berharga Syariah Negara (Sbsn). Sarjana thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh inflasi, jumlah uang beredar, kurs, dan yield Sertifikat Bank Indonesia Syariah (SBIS) terhadap yield Surat Berharga Syariah Negara (SBSN). Penelitian ini menggunakan metode analisis regresi linear berganda dengan program SPSS. Penelitian ini mengolah data secara bulanan dengan urutan waktu atau time series dari bulan Maret 2016 sampai bulan Oktober 2018. Hasil penelitian ini menunjukkan bahwa variabel inflasi berpengaruh positif terhadap yield sukuk ritel. Peningkatan inflasi menurunkan minat masyarakat untuk berinvestasi dalam SBSN. Hal ini terjadi karena real rate permintaan terhadap SBSN menurun. Apabila penawarannya tetap, maka yield SBSN akan meningkat karena pasar akan berekspetasi lebih dan membutuhkan return yang lebih besar. Jumlah uang beredar berpengaruh negatif terhadap yield sukuk ritel. Peningkatan yield yang diakibatkan penurunan harga sukuk dapat menurunkan jumlah uang beredar. Kurs dan yield SBIS berhubungan positif terhadap yield SBSN. Kenaikan kurs US dolar terhadap rupiah menyebabkan DJPPR meningkatkan yield sukuk. Hal ini dilakukan untuk mencegah investor menarik dananya keluar negeri. Kenaikan yield juga akan mengundang investor asing lainnya untuk berinvestasi di Indonesia. Yield SBIS mempunyai pengaruh positif terhadap government bond yield. SBIS dan SBSN merupakan free risk instrument. Sedangkan SBIS dan BI rate/7 days RR menjadi tolak ukur suku bunga pasar di Indonesia, yang menyebabkan kenaikan yield SBIS juga akan menaikkan yield SBSN.
English Abstract
This study discusses to analyze changes, the amount of money spent, the exchange rate, and the results of Bank Indonesia Syariah Certificates (SBIS) on the results of State Sharia Securities (SBSN). This study uses multiple linear regression analysis with the SPSS program. This research processes data on a monthly basis in the order of time or time series from March 2016 to October 2018. The results of this study indicate variables that have a positive effect on the results of retail sukuk. How big is the interest of the community to invest in SBSN. This happened because the real demand for SBSN declined. If the supply is fixed, the yield of the SBSN will increase because the market will be more expectant and require a greater return. The amount of money spent is negative for the results of retail sukuk. The increase in yield due to a decrease in the price of sukuk can reduce the amount of money spent. The exchange rate and yield of SBIS are positively related to the yield of SBSN. The increase in the US Dollar exchange rate against the rupiah caused DJPPR to increase sukuk yield. This is done to attract investors out of their funds abroad. Collecting results will also invite foreign investors to invest in Indonesia. SBIS yield has a positive influence on government bond yields. SBIS and SBSN are free risk instruments. While SBIS and BI rate / 7 days RR are the benchmarks of market interest rates in Indonesia, which causes an increase in SBIS yields it will also increase the yield of SBSN
Other obstract
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| Item Type: | Thesis (Sarjana) |
|---|---|
| Identification Number: | SKR/FEB/2019/251/051903646 |
| Uncontrolled Keywords: | yield SBSN, inflasi, jumlah uang beredar, kurs, yield SBIS, SBSN yield, conversion, amount of money spent, exchange rate, SBIS yield |
| Subjects: | 300 Social sciences > 332 Financial economics > 332.6 Investment |
| Divisions: | Fakultas Ekonomi dan Bisnis > Ilmu Ekonomi |
| Depositing User: | Nur Cholis |
| Date Deposited: | 21 Oct 2020 04:42 |
| Last Modified: | 21 Oct 2021 07:34 |
| URI: | http://repository.ub.ac.id/id/eprint/170517 |
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