Analisis Perbandingan Kinerja Obligasi Syariah dan Obligasi Konvensional di Bursa Efek Indonesia Periode 2010-2013

Abstract

This research was done to provide the comparison of performance between syariah bonds and conventional bonds based on Yield to Maturity (YTM) and deviation standard. Beside those methods, the performance of both in the kinds of bonds was also measured by Sharpe method so it is expected that this research can give positive contribution toward investor. The research used the descriptive analysis and independent sample t-test analysis that was formulated by using SPSS. The results of the analysis shows that there is no significant difference between syariah bonds and conventional bonds based on the value of YTM, deviation standard, and Sharpe index. In the other hand, descriptively the conventional bonds has better performance compared to islamic Bonds. The result shows that on the conventional bonds, the value of YTM is 9.72%, the deviation standard is 0.92%, and the Sharpe Index is 2.74. While on the syariah bonds, the result shows that the value of YTM is 9.45%, the deviation standard is 0.99% and the Sharpe index is 2.23.