The Islamic capital market plays an important role in the growth of the economy in Indonesia. During its development, the performance of the stock index in a country is often influenced by other stock indices in other countries. This study tries to analyze dependance of macroeconomic variable towards JII and IHSG price, using Autoregression Distributed Lag (ARDL). The results show that the Consumer Price Index (CPI) and exchange rate (EXC) significantly affect the movement of the JII and IHSG price index. This indicates that the movement of the JII and IHSG index in the short term is influenced by domestic production and exchange rate. Furthermore, the results of the research show a little uniqueness in the crude oil price (COP) variable.Keywords: ARDL, Macroeconomic, Oil price, Islamic stockJEL Classifications: E44, F41, Q43DOI: https://doi.org/10.32479/ijeep.10911

The use of fair value as a measurement in accounting should have relevant information if the information can be used to predict the company's performance in the next period. The purpose of this study is to analyze the relevance of the implementation of the fair value of securities in predicting future income and the stock price of the Banks. This study uses the sample of 23 banks listed on the Indonesia Stock Exchange with time series data of 8 years from 2010-2017. This study uses panel data and regression analysis to examine the effect of independent variables on dependent variables. The independent variable used in this study is the Bank's income and stock price and the dependent variable used is the difference fair value and amortized cost which is the difference between the fair value securities and the amortized cost securities. The controlling variables used in this study consisted of assets, interest income, capital tier 1, non-performing loans and asset-liability repricing gap. The results analysis found that the difference in fair value and the amortized cost has a significant effect on the future income and stock price and the book value of equity has a positive effect on the stock price.

The purpose of this study is to determine the macroeconomic effect on optimal portfolio returns formed from banking stocks with the Elton-Gruber single index model. The use of banking stocks in the formation of portfolios is due to the many risks inherent in the charged industry caused by the movement of macroeconomic indicators. The test conducted in this study uses the Autoregressive Distributed Lag (ARDL) method to see the long-term and short-term relationship of the independent variables to the dependent variable. The macroeconomic variables used in this study are the BI rate, inflation, money supply and the exchange rate of US Dollar-Rupiah. The results of the study show that there is a long-term and short-term relationship between the BI rate, inflation, money supply, and the US Dollar-Rupiah exchange rate jointly towards optimal portfolio return. This result shows partially only the previous 1-month portfolio return that affects portfolio return growth in long-term relationships. Whereas in the short term, only a change in the BI rate of the previous 3 months and a change in inflation in the previous 1 month which affected the optimal portfolio return growth.

Economic development is inseparated from the increasing needs of society in every aspects such as consumption and other needs. This condition triggered by various problems such as economic problems, social conflict, and legal awareness. Therefore, this study conducted for analyzing social economic factors such as the percentage of people who did not finish elementary school, Gini ratio, income and unemployment to criminal acts in North Sumatera. The technique of data processing used panel data regression model with The Hausman test to choose the best model within FEM or REM. The research area is all regencies/cities in North Sumatera. As the result of the study is the percentage of people who did not finish elementary school has a positive and insignificant impact to the criminal acts. This variable has the smallest coefficient value compared to the other independent variables. Gini ratio has a positive and significant impact to the criminal acts. This variable has the highest coefficient value compared to the other independent variables. Income has a negative and significant impact to the criminal acts. Unemployment Rate has a positive significant impact to the criminal acts.

The objective of this study is to evaluate the efficiency of Indonesian banking performance, an assessment that was rendered necessary by the sector's extensive COVID-19 pandemic impact. This study use the nonparametric technique of Data Envelopment Analysis (DEA) to determine the level of efficiency. On the basis of a constant return to scale (CRS) and a variable return to scale (VRS) with input and output orientations, efficiency can be determined. This study aims to determine the efficiency of Indonesian banks depending on their ownership before and after the Covid-19 outbreak. This analysis indicates that in 2020, the Indonesian banking industry, including state banks, regional banks, private banks, and international banks, will be inefficient. Comparatively, only regional banks have been unable to achieve efficiency in 2021, whilst all other banking categories have already achieved efficiency.