PENGARUH RASIO KEUANGAN DAN EKONOMI MAKRO TERHADAP RETURN SAHAM SYARIAH DENGAN RISIKO INVESTASI SEBAGAI VARIABEL INTERVENING(Studi Pada Perusahaan yang terdaftar Di Jakarta Islamic Index)

The purpose of this study is to analyze and test the effect of financial ratios and macroeconomics on Islamic stock returns listed in Jakarta Islamic Index (JII) with investment risk as an intervening variable. This type of research isexplanatory research with a quantitative descriptive approach. The type of data used is secondary data with a sample of 29 companies listed on the JII. The data obtained were analyzed using SEM (Structural Equation Model) with the AMOS 21 program. The results of the study show that only financial ratios have to affect sharia stock returns and investment risks, while the mediation test found that investment risk cannot be a mediating variable between financial ratios and macroeconomics to Islamic stock returns.