The Influence of Sharia Screening (Business Sector, Leverage, and Financial Ratios) on Investment Decisions
DOI:
https://doi.org/10.61166/iffah.v1i4.18Keywords:
invest, screening, investorAbstract
In the context of the Islamic capital market, investment decisions must take into account compliance with Sharia principles, such as the prohibition of riba (interest), gharar (excessive uncertainty), and maysir (gambling), as well as the requirement to invest in halal sectors. These principles are implemented through a Sharia screening mechanism that involves an assessment of the business sector, leverage ratio, and the company’s financial ratios. This study aims to analyze the influence of these three aspects of Sharia screening on corporate investment decisions. Using a descriptive qualitative approach and library research method, data were collected from various secondary sources such as academic journals, DSN-MUI fatwas, and publications from OJK and IDX.The analysis was conducted descriptively to understand the relationship between the Sharia screening aspects and the investment preferences of Sharia-compliant investors.The results indicate that the business sector is the dominant factor in the consideration of Sharia investors, followed by leverage and financial ratios. Therefore, a deep understanding of the Sharia screening mechanism is essential
not only for investors but also for issuers and regulators in fostering the development of an inclusive capital market based on Islamic principles
References
Fauzani. Screening Saham dan Implementasinya Terhadap Pengungkapan Tanggung Jawab Sosial: Studi Perusahaan pada Daftar Efek Syariah. Tesis Magister, Sekolah Pascasarjana UIN Syarif Hidayatullah Jakarta, 2021.
Halimatusa’diyah, Halimatusa’diyah. “Analisis Screening Saham Syariah Terhadap Keputusan Investasi.” Iqtishaduna: Jurnal Ilmiah Ekonomi Kita 10, no. 1 (n.d.). https://journal.uinmataram.ac.id/index.php/iqtishaduna/article/view/684.
Hidayati, Rizqiyatun Nisa’. Analisis Pengaruh Kinerja Keuangan terhadap Minat Investasi Syariah pada Saham Syariah. Skripsi, UIN Maulana Malik Ibrahim Malang, 2019. http://etheses.uin-malang.ac.id/18296/1/18540069.pdf.
Zuhriyah, Luluk. “Investasi Syariah dan Urgensi Screening Saham.” Shafin: Jurnal Syariah dan Ekonomi Islam 4, no. 2 (2022): 117–133. Shttps://ejournal.iainmadura.ac.id/index.php/shafin/article/view/6853/3168.
Arum, Dewi Puspita. “Pengaruh Rasio Keuangan terhadap Keputusan Investor pada Saham Syariah.” Artikel Ilmiah, STIE Perbanas Surabaya, 2019. http://eprints.perbanas.ac.id/8002/1/ARTIKEL%20ILMIAH.pdf.
Hidayati, Riska. Analisis Kinerja Saham Syariah dalam Daftar Efek Syariah. Skripsi, UIN Raden Intan Lampung, 2021. https://repository.radenintan.ac.id/12206/1/PUSAT%201%202.pdf.
Pebruary, Silviana. “Pengaruh Rasio Profitabilitas, Rasio Likuiditas, Rasio Leverage dan Pendapatan Bunga terhadap Rating Sukuk Korporasi Periode 2010–2013.” Jurnal Dinamika Ekonomi dan Bisnis, Universitas Islam Nahdlatul Ulama Jepara.
Ginanjar, Heru, Heri Junaidi, dan Titin Hartini. “Pengaruh Leverage terhadap Islamic Social Reporting dengan Firm Size sebagai Variabel Moderasi pada Bank Umum Syariah.” Jurnal Darma Agung 30, no. 2 (Agustus 2022): 448–456.
Syarifudin, Moh. “Mencetak Muzakki Baru Melalui Optimalisasi Program Komunitas Usaha Mikro Muamalat Berbasis Masjid (Studi di Kota Jayapura Papua).” AMAL: Journal of Islamic Economic and Business (JIEB) 1, no. 1 (2022).
Kurniawan, Aditya Rachmad, dan Suwardi Bambang Hermanto. “Pengaruh Leverage, Profitabilitas, dan Ukuran Perusahaan terhadap Return Saham.” Jurnal Ilmu Riset dan Akuntansi, STIESIA Surabaya, 2020.
