The Impact of Fundamental Micro Factors on Sharia Stock Prices of Companies Listed in The Jakarta Islamic Index 2019-2021

Abstract

The growth of sharia stock is increasingly showing its development in Indonesia. Fundamental analysis is needed to determine the performance conditions of the companies listed in the Sharia stock index. This study aims to determine how the micro fundamental factors affect the sharia stock prices. This study uses quantitative research methods and uses secondary data. The analytical method used in this study is a regression of the data panel using a random effect model with the GLS approach. The research finds that the EPS, PER, and ROA variables do not partially affect the Sharia Stock Price, while the BVPS and PBV variables partially affect the Sharia Stock Price. Fundamental micro factors simultaneously affect Sharia stock prices in companies listed on the Jakarta Islamic Index in 2019-2021. EPS, PER, BPVPS, PBV, and ROA simultaneously have a 75.55% impact on sharia stock prices.