Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.]
This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (US...
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| Format: | Article |
| Language: | English |
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Universiti Teknologi MARA Shah Alam
2020
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| Online Access: | https://ir.uitm.edu.my/id/eprint/34884/ |
| _version_ | 1848808655045001216 |
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| author | Muhamad Yusuf, Noor Hafizha Muhamad Hilmi, Natasha Aliana Mohd Abdoh, Wan Mohd Yaseer Shekh Zain, Rozihanim Badri Shah, Noor Sharida |
| author_facet | Muhamad Yusuf, Noor Hafizha Muhamad Hilmi, Natasha Aliana Mohd Abdoh, Wan Mohd Yaseer Shekh Zain, Rozihanim Badri Shah, Noor Sharida |
| author_sort | Muhamad Yusuf, Noor Hafizha |
| building | UiTM Institutional Repository |
| collection | Online Access |
| description | This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (USD exchange rate), oil price (crude palm oil) and money supply (M2) on frontier market Islamic index (FMII). This study employs Fixed Effect (FE) model of 17 countries listed under FMII. The study cover a ten (10) years period from 2008 until 2017. The study have shown significant relationship between inflation, money supply and exchange rate with FMII and managed to reject null hypotheses for the three variables. Inflation and exchange rate is negatively related with FMII while money supply, gross domestic product and oil price is positively related to FMII. However, the study fails to find any significant relationship between gross domestic product and oil price with FMII. The findings of this study will provide better understanding on the frontier market and helps to improve their performance. Therefore, it can encourage countries in frontier market to be able to compete and achieve similar advancement as countries in developed and emerging market did. |
| first_indexed | 2025-11-14T23:02:10Z |
| format | Article |
| id | uitm-34884 |
| institution | Universiti Teknologi MARA |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T23:02:10Z |
| publishDate | 2020 |
| publisher | Universiti Teknologi MARA Shah Alam |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | uitm-348842020-10-02T06:56:11Z https://ir.uitm.edu.my/id/eprint/34884/ Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] jibe Muhamad Yusuf, Noor Hafizha Muhamad Hilmi, Natasha Aliana Mohd Abdoh, Wan Mohd Yaseer Shekh Zain, Rozihanim Badri Shah, Noor Sharida Macroeconomics This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (USD exchange rate), oil price (crude palm oil) and money supply (M2) on frontier market Islamic index (FMII). This study employs Fixed Effect (FE) model of 17 countries listed under FMII. The study cover a ten (10) years period from 2008 until 2017. The study have shown significant relationship between inflation, money supply and exchange rate with FMII and managed to reject null hypotheses for the three variables. Inflation and exchange rate is negatively related with FMII while money supply, gross domestic product and oil price is positively related to FMII. However, the study fails to find any significant relationship between gross domestic product and oil price with FMII. The findings of this study will provide better understanding on the frontier market and helps to improve their performance. Therefore, it can encourage countries in frontier market to be able to compete and achieve similar advancement as countries in developed and emerging market did. Universiti Teknologi MARA Shah Alam 2020-06 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/34884/1/34884.pdf Muhamad Yusuf, Noor Hafizha and Muhamad Hilmi, Natasha Aliana and Mohd Abdoh, Wan Mohd Yaseer and Shekh Zain, Rozihanim and Badri Shah, Noor Sharida (2020) Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.]. (2020) Journal of International Business, Economics and Entrepreneurship (JIBE) <https://ir.uitm.edu.my/view/publication/Journal_of_International_Business,_Economics_and_Entrepreneurship_=28JIBE=29.html>, 5 (1). pp. 23-29. ISSN 2550-1429 https://jibe.uitm.edu.my/index.php/en/june-2020 |
| spellingShingle | Macroeconomics Muhamad Yusuf, Noor Hafizha Muhamad Hilmi, Natasha Aliana Mohd Abdoh, Wan Mohd Yaseer Shekh Zain, Rozihanim Badri Shah, Noor Sharida Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title | Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title_full | Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title_fullStr | Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title_full_unstemmed | Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title_short | Determinants of macroeconomic variables on islamic stock index: evidence from frontier market / Noor Hafizha Muhamad Yusuf …[et al.] |
| title_sort | determinants of macroeconomic variables on islamic stock index: evidence from frontier market / noor hafizha muhamad yusuf …[et al.] |
| topic | Macroeconomics |
| url | https://ir.uitm.edu.my/id/eprint/34884/ https://ir.uitm.edu.my/id/eprint/34884/ |