INVESTASI INVESTASI SAHAM SYARIAH DI INDONESIA TINJAUAN SISTEMATIS SCREENING, KINERJA, DAN MINAT INVESTOR INVESTASI

Abstract

The number of listed companies on the Sharia Securities List continues to rise alongside the growing market capitalization of the Jakarta Islamic Index (JII) and the Indonesia Sharia Stock Index (ISSI); however, research on Sharia stocks remains fragmented across three distinct areas—regulation, performance, and investor interest—with few studies linking all three within a single framework. This study maps research themes regarding Sharia stock investment in Indonesia, synthesizes performance determinants, and analyzes patterns of investor interest based on existing literature. A Systematic Literature Review (SLR) methodology was employed, sourcing articles from Google Scholar, Garuda, Crossref, and DOAJ; following the application of inclusion and exclusion criteria, twenty-two articles published between 2016 and 2026 were selected for analysis. The findings reveal that the literature falls into three themes: performance and stock price determinants (the most prevalent theme), investor behavior (8 articles), and screening mechanisms and regulations (4 articles). Sharia stock performance is linked to financial ratios—such as ROE, ROA, and DER—and macroeconomic variables like inflation and exchange rates, while the interest of Millennials and Gen Z remains overshadowed by a gap between enthusiasm and Sharia financial literacy Future research should expand its geographical scope beyond Java and adopt longitudinal designs, given that