The Effect of Theta Variable Before and After of Screening Process to Every Changes of Price and Volume of Jakarta Composite Index, Application of TSR Method

The world economic crisis, among others, characterized by the amount of financial shock and panic and loss of public confidence to prevent such a large impact on the real economy. There is also the world economy is expected to slow, after experiencing a global crisis in 2008 and the European crisis is not yet over (Smolo & Mirakhor 2010, Prorokowski, 2013, Dabrowski, et al, 2009, Park 2009, Feldkircher, 2012, Allen & Moessner 2012, Nikkinen, et al, 2013, Ahmed 2010, Sivakumar & Krishnaswami, 2012, bancel & Mittoo, 2011, Krohn & Gruver, 2008, De Bondt, 2010, Tomasic, 2011, Alqotawni, 2013). But still far from the estimated global depression. The world economy is experiencing a correction and a shift of the US-European economic pole towards hegemony countries emerging forces, such as the BRIC countries, including Indonesia. It is hoped there will be alleviation scheme crisis in Europe that will be the safety of the world economy in 2012, and entered a period of stability in the next year as will the fall of the stock market correction in Wall Street, London, Europe-Asia and other parts of the world (Heinz & Tomenendal, 2012, Sincai & Monica, 2011, Mc Clellan, 2008). Global economy is declining as a result of the World Financial Crisis (Global Financial Crisis/GFC). Implications for developed countries more severely than emerging forces (BBC Monitoring Asia Pacific, 2012). Getting the findings regarding DSN-MUI role in the development of the Islamic capital market in Indonesia in the future by using the methodology TSR. The result is expected to contribute to help increase product marketing sharia in the capital market. Significance of Research, to study such follows: Based on existing literature to date, this research can be regarded as a preliminary study on the implications of the Islamic Fatwa Share Trading Mechanism (DSN-MUI Fatwa # 80) and the performance of Indonesian capital market with the TSR method in technical analysis using the VAR method. As input for regulators and DSN-MUI especially for the development of the capital markets move based on Islamic principles or the companies belonging to the Jakarta Islamic Index. As input for subsequent researchers to conduct advanced research development.