Purpose –The implementation of the Islamic capital market in Indonesia applies the principles of Islamic capital participation that meets the principles of sharia i.e. non-bubble stock. Screening of Islamic companies through methods applied by authority agencies with certain prerequisites actually cannot avoid speculative actions that represent with bubble price. This research intended to detect the existence of bubble price in the Indonesian Islamic Stock Index. This very useful for society that the grouping of an asset was not enough to get an Islamic principe. The current model or tools to analyse and detect the existence of bubble, the application of those method in Islamic assets was not avalibale. In order to appropriate with Islamic principes, the Islamic assets are not allowed contain bubble. This paper introduce that those principes establish or not using this paper analysis. An econometrical model as well as an equation, according to monthly data, Indonesian Islamic Stock Index (IDXS) variable analysed by Right Tail Augmented Dickey Fuller (RTADF) approach. This tool very useful to detect and date-stamping of bubble with more accurately than other tools. The results shows that Indonesian Islamic stock market contain or existing the price of bubble, even Islamic stock with any prohibition and selective instrument can not avoid from bubble phenomenon. The stock may exhibit sharia value, but if the market play the role, so that these value may fallen away.
| Published in | International Journal of Business and Economics Research (Volume 11, Issue 2) |
| DOI | 10.11648/j.ijber.20221102.14 |
| Page(s) | 81-90 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Bubble, Islamic Stock Index, Right Tail ADF
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APA Style
Aula Ahmad Hafidh Saiful Fikri, Hadri Kusuma, Sunaryati. (2022). Detecting an Existence of Bubble Price in Indonesian Islamic Stock. International Journal of Business and Economics Research, 11(2), 81-90. https://doi.org/10.11648/j.ijber.20221102.14
ACS Style
Aula Ahmad Hafidh Saiful Fikri; Hadri Kusuma; Sunaryati. Detecting an Existence of Bubble Price in Indonesian Islamic Stock. Int. J. Bus. Econ. Res. 2022, 11(2), 81-90. doi: 10.11648/j.ijber.20221102.14
AMA Style
Aula Ahmad Hafidh Saiful Fikri, Hadri Kusuma, Sunaryati. Detecting an Existence of Bubble Price in Indonesian Islamic Stock. Int J Bus Econ Res. 2022;11(2):81-90. doi: 10.11648/j.ijber.20221102.14
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Download@article{10.11648/j.ijber.20221102.14,
author = {Aula Ahmad Hafidh Saiful Fikri and Hadri Kusuma and Sunaryati},
title = {Detecting an Existence of Bubble Price in Indonesian Islamic Stock},
journal = {International Journal of Business and Economics Research},
volume = {11},
number = {2},
pages = {81-90},
doi = {10.11648/j.ijber.20221102.14},
url = {https://doi.org/10.11648/j.ijber.20221102.14},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20221102.14},
abstract = {Purpose –The implementation of the Islamic capital market in Indonesia applies the principles of Islamic capital participation that meets the principles of sharia i.e. non-bubble stock. Screening of Islamic companies through methods applied by authority agencies with certain prerequisites actually cannot avoid speculative actions that represent with bubble price. This research intended to detect the existence of bubble price in the Indonesian Islamic Stock Index. This very useful for society that the grouping of an asset was not enough to get an Islamic principe. The current model or tools to analyse and detect the existence of bubble, the application of those method in Islamic assets was not avalibale. In order to appropriate with Islamic principes, the Islamic assets are not allowed contain bubble. This paper introduce that those principes establish or not using this paper analysis. An econometrical model as well as an equation, according to monthly data, Indonesian Islamic Stock Index (IDXS) variable analysed by Right Tail Augmented Dickey Fuller (RTADF) approach. This tool very useful to detect and date-stamping of bubble with more accurately than other tools. The results shows that Indonesian Islamic stock market contain or existing the price of bubble, even Islamic stock with any prohibition and selective instrument can not avoid from bubble phenomenon. The stock may exhibit sharia value, but if the market play the role, so that these value may fallen away.},
year = {2022}
}
TY - JOUR T1 - Detecting an Existence of Bubble Price in Indonesian Islamic Stock AU - Aula Ahmad Hafidh Saiful Fikri AU - Hadri Kusuma AU - Sunaryati Y1 - 2022/04/20 PY - 2022 N1 - https://doi.org/10.11648/j.ijber.20221102.14 DO - 10.11648/j.ijber.20221102.14 T2 - International Journal of Business and Economics Research JF - International Journal of Business and Economics Research JO - International Journal of Business and Economics Research SP - 81 EP - 90 PB - Science Publishing Group SN - 2328-756X UR - https://doi.org/10.11648/j.ijber.20221102.14 AB - Purpose –The implementation of the Islamic capital market in Indonesia applies the principles of Islamic capital participation that meets the principles of sharia i.e. non-bubble stock. Screening of Islamic companies through methods applied by authority agencies with certain prerequisites actually cannot avoid speculative actions that represent with bubble price. This research intended to detect the existence of bubble price in the Indonesian Islamic Stock Index. This very useful for society that the grouping of an asset was not enough to get an Islamic principe. The current model or tools to analyse and detect the existence of bubble, the application of those method in Islamic assets was not avalibale. In order to appropriate with Islamic principes, the Islamic assets are not allowed contain bubble. This paper introduce that those principes establish or not using this paper analysis. An econometrical model as well as an equation, according to monthly data, Indonesian Islamic Stock Index (IDXS) variable analysed by Right Tail Augmented Dickey Fuller (RTADF) approach. This tool very useful to detect and date-stamping of bubble with more accurately than other tools. The results shows that Indonesian Islamic stock market contain or existing the price of bubble, even Islamic stock with any prohibition and selective instrument can not avoid from bubble phenomenon. The stock may exhibit sharia value, but if the market play the role, so that these value may fallen away. VL - 11 IS - 2 ER -
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