Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange

This Research is about comparison between sharia companies and non-sharia companies in the stock market. Several previous studies have shown that in the stock market, the stock performance of sharia companies is better to that of non-sharia companies. Then this research increases the qualification o...

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Autores principales:	Nurhayadi Yadi, Wijiharjono N., Al-Azizah Ummu S., Johl Satirenjit K., Shamim A., Kaur Shireenjit
Formato:	article
Lenguaje:	EN FR
Publicado:	EDP Sciences 2021
Materias:	sharia companies non-sharia companies green innovation technology bivariate and multivariate analysis Social Sciences H
Acceso en línea:	https://doaj.org/article/5d712443c25c44f4ae8242cde2464292
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spelling	oai:doaj.org-article:5d712443c25c44f4ae8242cde24642922021-12-02T17:15:13ZStock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange2261-242410.1051/shsconf/202112405004https://doaj.org/article/5d712443c25c44f4ae8242cde24642922021-01-01T00:00:00Zhttps://www.shs-conferences.org/articles/shsconf/pdf/2021/35/shsconf_icmesh2020_05004.pdfhttps://doaj.org/toc/2261-2424This Research is about comparison between sharia companies and non-sharia companies in the stock market. Several previous studies have shown that in the stock market, the stock performance of sharia companies is better to that of non-sharia companies. Then this research increases the qualification of the companies to become companies that have implemented green innovation technology. This qualification is applied to companies listed in the Sri-Kehati index on the Indonesia Stock Exchange. Through bivariate and multivariate analysis, the results showed that the stock performance of non-sharia companies was better than those of sharia companies. Bivariate analysis show that the positive gradient of non-sharia trendline (168.37) is bigger than sharia trendline (11.633). The coefficient of determination between non-sharia stocks and Sri-Kehati index (86.41%) is bigger than between sharia stocks and Sri-Kehati index (26.46%). Multivariate analysis obtained a multiple linear regression equation of 1 2 yˆ =117.187 + 0.0081x1 + 0.014397 x2. This equation shows that the variable coefficient of the value of sharia stocks is smaller than the coefficient of the variable value of non-sharia stocks. These facts are based on research on Sri-Kehati index data from 2016 to 2019. The results of this study indicate that investors prefer to invest in shares in non-sharia companies than in sharia companies. The results also indicate that increasing the qualifications of a sharia company to become a company that applies green innovation technology will not necessarily increase its share value. Is upgrading the qualification of a sharia company to a sharia company that applies green innovation technology a mistake? Meanwhile, Indonesia is a country with the largest Muslim population in the world.Nurhayadi YadiWijiharjono N.Al-Azizah Ummu S.Johl Satirenjit K.Shamim A.Kaur ShireenjitEDP Sciencesarticlesharia companiesnon-sharia companiesgreen innovation technologybivariate and multivariate analysisSocial SciencesHENFRSHS Web of Conferences, Vol 124, p 05004 (2021)
institution	DOAJ
collection	DOAJ
language	EN FR
topic	sharia companies non-sharia companies green innovation technology bivariate and multivariate analysis Social Sciences H
spellingShingle	sharia companies non-sharia companies green innovation technology bivariate and multivariate analysis Social Sciences H Nurhayadi Yadi Wijiharjono N. Al-Azizah Ummu S. Johl Satirenjit K. Shamim A. Kaur Shireenjit Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
description	This Research is about comparison between sharia companies and non-sharia companies in the stock market. Several previous studies have shown that in the stock market, the stock performance of sharia companies is better to that of non-sharia companies. Then this research increases the qualification of the companies to become companies that have implemented green innovation technology. This qualification is applied to companies listed in the Sri-Kehati index on the Indonesia Stock Exchange. Through bivariate and multivariate analysis, the results showed that the stock performance of non-sharia companies was better than those of sharia companies. Bivariate analysis show that the positive gradient of non-sharia trendline (168.37) is bigger than sharia trendline (11.633). The coefficient of determination between non-sharia stocks and Sri-Kehati index (86.41%) is bigger than between sharia stocks and Sri-Kehati index (26.46%). Multivariate analysis obtained a multiple linear regression equation of 1 2 yˆ =117.187 + 0.0081x1 + 0.014397 x2. This equation shows that the variable coefficient of the value of sharia stocks is smaller than the coefficient of the variable value of non-sharia stocks. These facts are based on research on Sri-Kehati index data from 2016 to 2019. The results of this study indicate that investors prefer to invest in shares in non-sharia companies than in sharia companies. The results also indicate that increasing the qualifications of a sharia company to become a company that applies green innovation technology will not necessarily increase its share value. Is upgrading the qualification of a sharia company to a sharia company that applies green innovation technology a mistake? Meanwhile, Indonesia is a country with the largest Muslim population in the world.
format	article
author	Nurhayadi Yadi Wijiharjono N. Al-Azizah Ummu S. Johl Satirenjit K. Shamim A. Kaur Shireenjit
author_facet	Nurhayadi Yadi Wijiharjono N. Al-Azizah Ummu S. Johl Satirenjit K. Shamim A. Kaur Shireenjit
author_sort	Nurhayadi Yadi
title	Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
title_short	Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
title_full	Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
title_fullStr	Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
title_full_unstemmed	Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange
title_sort	stock performance comparison between green innovation sharia companies and green innovation non-sharia companies: evidence from indonesia stock exchange
publisher	EDP Sciences
publishDate	2021
url	https://doaj.org/article/5d712443c25c44f4ae8242cde2464292
work_keys_str_mv	AT nurhayadiyadi stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange AT wijiharjonon stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange AT alazizahummus stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange AT johlsatirenjitk stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange AT shamima stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange AT kaurshireenjit stockperformancecomparisonbetweengreeninnovationshariacompaniesandgreeninnovationnonshariacompaniesevidencefromindonesiastockexchange
_version_	1718381262098399232

Stock Performance Comparison between Green Innovation Sharia Companies and Green Innovation Non-Sharia Companies: Evidence from Indonesia Stock Exchange

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