Performance of Sharia and Conventional Stock during the Pandemic of Covid-19 in Indonesia

Abstract

This research aims to analyse the difference between sharia and conventional stock performance in Indonesia Stock Exchange at the time of pandemic Covid-19. The research took a sample of all the companies whose stocks were actively traded in the period of March – May 2020. Of the 681 shares listed, only 583 stocks were traded continuously for 3 months and 98 of the risk stock was zero, so the samples were selected as many as 583 shares consisting of 391 sharia shares and 192 conventional stocks. The testing results of Levene's test showed the value F > 0.05 which means changes in stock performance occurring in sharia and conventional stocks are the same. The value t =-1.035 and its significance (P = 0,301) indicate a decrease in the performance of stocks occurring in sharia and conventional stocks. The average performance of sharia and conventional shares is the same as-0.28837 for sharia shares and-0.23466 for conventional stocks