Analisis Surat Berharga Terhadap Financial Deepening Di Indonesia

Abstract

This research was conducted to measure financial depth, especially related to the capital market which is used as a variable and the money supply and GDP are used as indicators in measuring financial depth through ratios.  Where the research period was carried out in 2017-2021.  Through data obtained from monthly financial reports at the Financial Services Authority (OJK) and Indonesian Financial Economic Statistics (SEKI) of Bank Indonesia.  The purpose of this research is to analyze the influence of corporate sukuk, state sukuk, sharia mutual funds, and sharia stocks on financial deepening in Indonesia for the 2017-2021 period either partially or simultaneously.

 The theory used in this study relates to the development of the financial sector in connection with that the theories related to this research are financial deepening, corporate sukuk, state sukuk, sharia mutual funds and sharia stocks.

 The method used in this study is quantitative, with sampling in this study using saturated samples with a total sample of 60 samples.  The data analysis technique used is the classical assumption test, normality test, multicollinearity test, autocorrelation test, multiple linear regression test, determinant coefficient test (R2), t test and f test.  To facilitate the process of analyzing this research data, it is assisted by using (Statistical Package for Social Science) version 23.

 The results of the partial study (t test) stated that (-4.067 < 1.67303) corporate sukuk did not have a significant effect on financial deepening, state sukuk had (9.412> 1.67303) state sukuk had a significant effect on financial deepening,  sharia mutual funds have (1.712 > 1.67303) sharia mutual funds have a positive effect on financial deepening, sharia shares have (-5.377 < 1.67303) sharia shares have no effect on financial deepening.  The simultaneous research results of (68.869 > 2.54) mean that corporate sukuk, state sukuk, sharia mutual funds, and sharia stocks simultaneously affect financial deepening 2017-2021.