The Influence of Islamic Fundamentals Analysis on the Interest and Profitability of Sharia Stock Investors in KSPM-S East Java
DOI:
https://doi.org/10.38073/aijis.v3i1.3087Keywords:
Islamic Fundamentals Analysis, Investor Interest, Investor Profit, Sharia StocksAbstract
This study analyzes the influence of Islamic-based fundamental analysis on the investment interest and profits of Islamic stock investors, particularly students who act as investors and are members of the Islamic Capital Market Study Group (KSPM-S) in East Java. The research is driven by the significance of Islamic financial literacy in supporting investment decisions that align with Islamic principles. A quantitative method with a path analysis approach is employed to identify the direct relationship between the understanding of Islamic fundamental analysis and the level of investment interest and resulting profits. The findings reveal that comprehension of core Islamic principles such as the prohibition of usury, the permissibility of business activities, and financial transparency has a positive impact on students’ interest in investing and contributes to increased investment returns. These results highlight the importance of integrating financial education with Islamic values in the investment decision-making process. The study also offers recommendations to enhance training programs on value-based Islamic stock analysis for the development of KSPM-S members.
Downloads
References
Ashari, Denny Rakhmad Widi, Mohammad Basid Al Haris, Akhmad Rifa’i, and Atina Hidayati, ‘Persepsi Masyarakat Terhadap Mitos Dan Fakta Perbankan Syariah’, SINDA: Comprehensive Journal of Islamic Social Studies, 3.2 (2023), pp. 125–33
Atikah, Nila, and Sayudin Sayudin, ‘Analisis Perkembangan Pasar Modal Syariah: Tantangan Dan Peluang Dalam Investasi Berbasis Prinsip Syariah’, Jurnal Inovasi Global, 2.1 (2024), pp. 204–13
Awaluddin, Murtiadi, Teori Portofolio Dan Analisis Investasi Syariah (Yayasan Tri Edukasi Ilmiah, 2024)
Batubara, Maryam, and Inayatul Widad Nasution, ‘Pasar Modal Syariah Sebagai Pilar Pendukung Pertumbuhan Industri Halal: Sebuah Tinjauan Komprehensif’, Reslaj: Religion Education Social Laa Roiba Journal, 6.3 (2024), pp. 2170–79
Bebasari, Nataliana, Rizky Rilyanty Kurnia Ilahi, and Ryani Dhyan Parashakti, ‘PENGARUH ANALISIS FUNDAMENTAL KEUANGAN TERHADAP’, Jurnal Perspektif Manajerial Dan Kewirausahaan (JPMK), 2.1 (2022), pp. 43–54
Chapra, M. Umer, The Future of Economics: An Islamic Perspective (The Islamic Foundation, 2000)
Cholifah, Siti Nur, Amalia Nuril Hidayati, Imam Sopingi, Uin Sayyid, and Ali Rahmatullah, ‘Keputusan Investasi Dipengaruhi Oleh Overconfidence, Financial Literacy, Risk Tolerance Dan Risk Perception (Studi Pada Nasabah PT. Phintraco Sekuritas Kantor Cabang Surabaya)’, JIES: Journal of Islamic Economics Studies, 4.1 (2023), pp. 1–15
Dika, Riri Putri, Shinta Bella, and Nike Apriyanti, Investasi Saham Syariah (CV. Gita Lentera, 2024)
Fatkhur Rohman Albanjari, M E, Suprapto Estede, S E Rineliana, S E Jenita, S E Purwanto, Fitria Hi Mhd Amin, and others, Pengantar Ekonomi Syariah (Cendikia Mulia Mandiri, 2025)
Graciela, Estefania, Marlina Laia, and Munawarah, ‘Pengaruh Analisis Fundamental Terhadap Harga Saham Syariah Yang Tergabung Di Jakarta Islamic Index ( JII )’, Owner: Riset & Jurnal Akuntansi, 5.1 (2021), pp. 196–207, doi:10.33395/owner.v5i1.373
Hakim, Lukman, and Muhammad Birusman Nuryadin, ‘Nilai-Nilai Islam Dalam Kebijakan Ekonomi Modern: Pemikiran Umer Chapra’, Maro: Jurnal Ekonomi Syariah Dan Bisnis, 7.2 (2024), pp. 339–49
Hamizar, Arizal, ‘Pengaruh Faktor Sosial Dan Etika Dalam Perilaku Pengambilan Keputusan Investasi: Studi Kasus Pada Investasi Keuangan Syariah’, Amal: Jurnal Ekonomi Syariah, 5.1 (2023)
Harnilawati, Dita Insiyada, Imam Sopingi, Erlina Indriasari, Ofirenty Nubatonis, and Femmy Schouten, Metodologi Penelitian, ed. by Yasmin Pratiwi, 1st edn (Cendekia Publisher, 2024)
Irawan, Muhammad David Rio, ‘Analisis Perkembangan Dan Peluang Investasi Saham Syariah Sesuai Prinsip Islam’, Jurnal Kajian Islam Dan Sosial Keagamaan, 2.4 (2025), pp. 655–65
Jalari, Syamsul Anwar, and Misnen Ardiansyah, ‘Determinants of Hybrid Investor Behavior: Selecting Stock in The Islamic Capital Market with Maqasid of Sharia as Moderation’, Millah: Journal of Religious Studies, 22.2 (2023), pp. 701–32, doi:10.20885/millah.vol22.iss2.art15
Jusman, Jumriaty, and Tina Lestari, ‘Minat Investasi Mahasiswa Di Pasar Modal Yang Dideterminasi Oleh Pengetahuan Investasi, Manfaat Investasi Dan Modal Minimal Investasi (Studi Pada Mahasiswa Stie Pancasetia Banjarmasin)’, KINDAI, 20.2 (2024), pp. 185–97
Kahf, Monzer, The Islamic Economy: Analytical Study of the Functioning of the Islamic Economic System (Pustaka Pelajar, 1995)
Khaldun, Abdurrahman bin Muhammad Ibnu, Muqaddimah Ibnu Khaldun (Dar Al-Fikr, 2004)
Kholil, Suparman, ‘Etika Produksi Islami Berbasis Maqashid Al-Shariah: Pilar Kesejahteraan Sosial Dan Ekonomi’, Equality: Journal of Islamic Law (EJIL), 3.1 (2025), pp. 13–25
Munir, Muhammad Misbakul, ‘Pemberdayaan Ekonomi Berlandaskan Maslahah Dalam Hukum Islam’, Jurnal Kajian Islam Modern, 10.01 (2023), pp. 34–45
Nabilla, Naura Fika Azmi, and Subhan Afifi, ‘Pengaruh Komunikasi Persuasif Dan Personal Branding Celebrity Endorser Terhadap Kesadaran Vaksinasi Covid-19 (Analisis Structural Equation Modeling Partial Least Squares)’, Jurnal Mahasiswa Komunikasi Cantrik, 3.1 (2023)
Niam, Khoirun, ‘Investasi Halal Dan Pembangunan’, Ekonomi Pembangunan Islam, 94 (2024)
Pasaribu, Nona Soraya, ‘Pengaruh Profitabilitas Terhadap Nilai Perusahaan Manufaktur Dengan Pengungkapan Corporate Social Responsibility (CSR) Dan Good Corporate Governance (GCG) Sebagai Variabel Moderasi’ (UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan, 2023)
Rahmawati, Dini Zulhijah, Laksamana Adam Wibawa, Luna Cantika Antoni Putri, and Anas Malik, ‘Pengaruh Literasi Keuangan Terhadap Minat Investasi Di Pasar Modal Bagi Generasi Milenial’, Al-A’mal: Jurnal Manajemen Bisnis Syariah, 2.1 (2025), pp. 7–16
Sasongko, Dimas Femy, Eka Wahyu Hestya Budianto, Dhiya Ulhaq Arkaan, and Ardana Herawati, ‘Internalisasi Nilai Moderasi Beragama Dalam Sistem Ekonomi Syariah Pada UMKM Halal Melalui Produk Pembiayaan Syariah’, Martabe: Jurnal Pengabdian Masyarakat, 7.4 (2024), pp. 1303–20
Sepdiana, Nana, ‘Peran Literasi Keuangan Syari’ah Dalam Membentuk Keputusan Investasi Syari’ah Pekerja Generasi Milenial Dan Gen Z’, Balance: Jurnal Akuntansi Dan Manajemen, 4.1 (2025), pp. 246–53
Syaputra, Harian, ‘Pentingnya Analisis Kelayakan Dalam Pembiayaan Syariah’, Manajemen Pembiayaan Syariah: Teori Dan Aplikasi Terkini, 2025, p. 47
Taymiyyah, Ibn, Al‑Hisbah Fī Al‑Islām (Dār al‑Shaʿb, 1976)
Wahyunitasari, Eka Dita, Imam Sopingi, and Anita Musfiroh, ‘Analisis Peran Lembaga Keuangan Syariah Dalam Perekonomian Indonesia’, JIES Journal of Islamic Economics Studies, volume.2,.2 (2023), pp. 103–14
Winarsih, Sri, and Ersi Sisdianto, ‘Peran Laporan Keuangan Dalam Menilai Transparansi Dan Keberlanjutan Bank Syariah’, Jurnal Media Akademik (JMA), 2.12 (2024)
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Eka Dita Wahyunitasari, Imam Sopingi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
