The Differences of Sukuk Types in Companies Listed on the Indonesia Stock Exchange (IDX)

Abstract

Sukuk is a form of Islamic financial instrument that has been widely published by corporations and state sukuk. For issuers, issuing sukuk means taking advantage of certain opportunities. Issuers can obtain a wider range of funding sources, both conventional and Islamic investors. In addition, the innovative structure of Islamic bonds also offers opportunities to gain capital costs and a competitive advantage. This study aims to determine the effect of various types of Islamic bonds (sukuk) on companies listed on the IDX. The method used by researchers is to test for diversity using chi-square statistics, with data collection based on financial reports from 1,281 companies that issue sukuk listed on the Indonesia Stock Exchange (IDX). The results showed that the type of sukuk affects the choice of funding on the Indonesia Stock Exchange (BEI).