Resilience of the Sharia Stocks During the Pandemic; The Role of Ownership Structure

Abstract

This research aims to explore the influence of ownership structure on severity loss. The study utilized 359 Sharia stocks listed on the Indonesia Stock Exchange in 2019-2020. The findings indicate that Sharia stocks with high levels of institutional and foreign ownership exhibited greater resilience during crises. Additionally, a consistent control variable affecting company resilience is financial performance. The better the financial performance, the lower the severity of loss or the higher the resilience.