Saudi Journal of Economics and Finance (SJEF)
Volume-3 | Issue-01 | 45-53
Original Research Article
Analysis of Factors That Affect the Yield of Sharia Bonds (Sukuk) in Companies Listed on the Indonesia Stock Exchange
Ria Mareta Sari, Nurlina T. Muhyiddin, Isnurhadi
Published : Jan. 30, 2019
Abstract
This study aims to determine the effect of inflation, exchange rates, maturity period, bond ratings, company size, and
return on assets which are independent variables on sukuk yields as the dependent variable. This study uses a sample of
sharia-based corporate bonds listed on the Indonesia Stock Exchange (IDX) and rated by Pefindo during 2012-2016,
while exchange rate and inflation data are data published by Indonesian banks. This study uses a purposive sampling
method and the analysis technique used is the test of multiple regression analysis using the SPSS application. The results
obtained are that the independent variable of inflation, exchange rate, maturity and sukuk rating does not affect the yield
of sukuk. Whereas the independent size of the company (firm size) and return on assets have an effect on the dependent
variable of the sukuk yield.