Email this article Harga Saham terhadap Keputusan Investasi Syariah : Peran Moderasi Inflasi
Abstract
Keputusan investasi merupakan proses penting di mana individu atau organisasi memilih untuk menempatkan sumber daya atau modal mereka. Pandemi COVID-19 menyebabkan volatilitas pasar yang signifikan termasuk pada pasar modal syariah. Penelitian ini memiliki tujuan untuk melihat pengaruh harga saham serta peran inflasi apakah mampu memperkuat atau justru memperlemah terhadap keputusan investasi. Metodologi penelitian yang digunakan dalam penelitian ini adalah kuantitatif dengan menggunakan software SmartPLS 3.0. Data sekunder diperoleh dari Bursa Efek Indonesia (BEI). Pengambilan sampel menggunakan teknik purposive sampling. Perhitungan jumlah sampel menggunakan teknik slovin menjadi 24 saham syariah yang terdaftar pada Jakarta Islamic Index (JII). Hasil temuan penelitian memberikan fakta harga saham tidak berpengaruh terhadap keputusan investasi pada Jakarta Islamic Index (JII), hal ini dikarenakan investor dalam indeks ini lebih memperhatikan potensi pendapatan dividen yang dihasilkan oleh saham-saham yang terdaftar di JII daripada sekadar perubahan harga saham. Hal ini bisa menjadi pertimbangan karena investasi syariah seringkali menekankan distribusi keuntungan kepada pemegang saham secara adil dan transparan. Inflasi tidak mampu memoderasi atau justru memperlemah pengaruh harga saham terhadap keputusan investasi pada Jakarta Islamic Index (JII), hal ini dikarenakan saham-saham syariah menawarkan tingkat stabilitas yang lebih tinggi, karena mereka seringkali terkait dengan perusahaan yang memiliki praktik bisnis yang berkelanjutan dan tata kelola yang baik. Hal ini bisa membuat investor kurang sensitif terhadap fluktuasi harga yang dipengaruhi oleh inflasi. Investor di pasar modal syariah sering kali memiliki orientasi investasi jangka panjang.
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DOI: https://doi.org/10.30872/jfor.v26i1.14249
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