Jurnal Ekonomi Syariah Teori Terapan, Jun 13, 2020
Penelitian ini bertujuan untuk mengetahui adanya hubungan antara lembaga keuangan syariah, baik l... more Penelitian ini bertujuan untuk mengetahui adanya hubungan antara lembaga keuangan syariah, baik lembaga keuangan bank maupun bukan bank, di Indonesia periode 2014-2018. Penelitian ini menggunakan metode VAR untuk mengolah data. Hasil dari penelitian ini adalah terdapat hubungan antara lembaga keuangan berbasis syariah yang ada di Indonesia. Pasar modal syariah memiliki hubungan yang positif dengan asuransi jiwa syariah. Hal tersebut terjadi karena di negara berkembang seperti Indonesia, asuransi jiwa adalah asuransi yang lebih berpengaruh jika dibandingkan dengan asuransi umum syariah. Hubungan yang terjadi pada pasar modal syariah dan asuransi jiwa syariah terjadi karena peran dari perusahaan asuransi syariah yang akan membeli saham di pasar modal syariah. Kemudian terdapat hubungan yang negatif antara perbankan syariah dengan asuransi syariah. Hal tersebut karena dalam setiap kredit yang diberikan bank kepada nasabah akan dikenakan biaya untuk asuransi. Besarnya kontribusi yang dibayar berdasarkan pada nilai dari kredit tersebut, sehingga semakin besar nilai kredit akan semain besar kontribusi yang dibayarkan. Hal tersebut akan menjadi pertimbangan oleh nasabah dalam mengambil kredit di bank. Sedangkan perusahaan asuransi sendiri tidak dipengaruhi oleh dua lembaga keuangan lainnya. Hal tersebut terjadi karena perusahaan asuransi mendapatkan modal dari pihak ketiga atau peserte mereka.
Pertanika journal of social science and humanities, Jul 5, 2022
Household debt has a detrimental effect on economic growth. Thus, this study examines the connect... more Household debt has a detrimental effect on economic growth. Thus, this study examines the connection between household debt and growth in institutional quality. The impact of the relationship on economic growth is assessed using a bias-corrected least square dummy variable of 43 nations. We discovered that institutional quality enhances the role of household debt in sustaining economic growth. Household debt is significantly detrimental to growth when institutional quality is low. Its harmful effect can be lessened with medium institutional quality. Interestingly, higher household debt is beneficial in sustaining growth if accompanied by better institutional quality. Household debt and institutions reinforce each other towards sustaining economic stability for countries with higher institutional quality. The findings are expected to assist central banks and other government authorities in formulating the relevant institutional settings for ensuring economic sustainability, such as prudent debt management and macro-prudential policy. Future studies may consider empirical analysis on a distinct split sample of advanced and emerging economies and employ different estimator methods.
The present article aims to find out the influence of social capital and human capital on perform... more The present article aims to find out the influence of social capital and human capital on performance effectiveness of Amil Zakat National Institutions in Surabaya. The method used in this research is quantitative multiple linear regression, and the data was taken from the questionnaires. This research was conducted in 2017 from four samples of Amil Zakat National Institutions namely Yatim Mandiri, Nurul Hayat, Infaq Lembaga Manajemen Infaq (LMI) dan Yayasan Dana Sosial Al Falah (YDSF). According to the results of the survey, it is observed that social capital and human capital are the significant influences of performance effectiveness on Amil Zakat National Institutions in Surabaya.
Indonesia is called feasible as a halal tourism center because the majority of its population is ... more Indonesia is called feasible as a halal tourism center because the majority of its population is Muslim. The concept of halal tourism is an actualization of the Islamic concept where halal and haram values become the main benchmark, this means that all aspects of tourism activities are inseparable from halal certification which must be a reference for every tourism actor (Chookaew et al., 2015). In tourist attractions SMEs can sell products as a distinctive Indonesian feature, but if coupled with the concept of halal tourism, the products sold by SMEs must certainly have halal certification. With the existence of halal certification, of course, it will guarantee that the products sold are suitable for foreign tourists who are very concerned about halal food or products. In addition there are also Muslim tourists from non-Muslim countries such as Singapore and France. Kemenparekraf noted that the number of Muslim tourist visits to Indonesia reached 1,270,437 people per year (Tourism, 2015). According to Perdani & Chasanah (2018), the construction of a halal guarantee system is very important because it is to safeguard products whose raw materials are not from Muslim countries. With halal certification, SME products obtain added value so that they will increase the competitiveness of Indonesian products in the international world. The purpose of this study is to find out what factors influence and which factors play the most powerful role in influencing efforts to improve the competitiveness of Small and Medium Enterprises in Eastern Indonesia. The research design used in this study is a qualitative method (by using a qualitative approach to case studies and data mining with the method of depth interview). The data used in the second (qualitative) approach is one shot, which is collected through data mining in the form of depth interviews and focus group discussions to key informants. Informants as many as 12 SMEs and the Department of Industry and Trade as well as MUI in the local area in Eastern Indonesia (Bali and Lombok). In addition to completing the depth of the discussion and allowing more in-depth findings to be produced, literature studies have also been conducted on several similar research results. The results of this study found that there are several factors influencing efforts to improve the competitiveness of Eastern Indonesia Small and Medium Enterprises namely Availability & Conditions of Business Environment, Business Capability, Business Performance, Policy and Infrastructure, Research and Technology, and External Support. The dominant factor is that policy and infrastructure want to illustrate the extent to which the implementation of policies and infrastructure in locations around MSMEs operate can support or hinder businesses to operate. In this case, there are several measurement indicators, namely the application of legal policies,
The empowerment, entrepreneurship and education are the most imperative issues among women to dev... more The empowerment, entrepreneurship and education are the most imperative issues among women to develop the country. Micro credit is one of the effective tools to eradicate poverty among poor people through enhancing women empowerment, enhancing the entrepreneurial activities and improving education level for both men and women. It has initiated the schemes to encourage entrepreneurial activities along with developing education level and enhance the women empowerment in the country. The main goal of this research is to inspect the improvement of women empowerment, evaluate the development of entrepreneurship and the education level among micro credit borrowers in Bangladesh. There are two hundred and thirty respondents were participated in this research. The data were analyzed by the descriptive and multiple linear regression analysis. The results found that the women empowerment slightly develops even though it is not significant statistically whereas the entrepreneurship and education are negatively associated with micro credit programs. This research influences the micro credit institutions to develop and focus on the application of loaned amount by borrowers to affect significantly on women empowerment, entrepreneurial activities and education level. Finally, this research is also merits the government to widen the facilities and lessen the hardship on micro credit institutions and encourages the policy in Bangladesh.
The development of free trade in Asia is currently a challenge for Indonesia. Given that trade be... more The development of free trade in Asia is currently a challenge for Indonesia. Given that trade between countries is getting unhindered efforts are needed to strengthen the sale of commodities from Indonesia to other countries or in other words the need for efforts to increase exports. Seeing the development of Islamic financial institutions are also supporting the growth of the real sector of the real thing, of course, financing can directly assist the growth of exports in Indonesia. Unfortunately, based on the results of the current study indicate where Islamic financial institutions (BUS and IKNB Sharia) is still positive effect on exports in Indonesia. This is because funds in the Islamic financial institutions still consumptive. Likewise with inflation has a negative effect while the rupiah exchange rate against the dollar would have a positive effect.
JEBIS (Jurnal Ekonomi dan Bisnis Islam), Jul 1, 2023
Introduction: In recent years, Islamic Fintech and bibliometric analysis in general have drawn mo... more Introduction: In recent years, Islamic Fintech and bibliometric analysis in general have drawn more attention in the finance literature. In this study, all papers indexed in the Dimensions database that cover the wide topic of Fintech and Islamic Fintech from 2017 to 2023 are examined using bibliometric analytical tools. Methods: The authors discovered 675 papers that met the set function, subject, and criteria requirements. The papers' publishing by knowledge area, annual study output, national contribution, author count, and most prestigious journals were all analysed. The co-occurrence of keywords and document citations was visually analysed using the VOS viewer. Filter the data set from "Islamic Fintech" or "Bibliometric Analysis" or "Literature Reviews", and concluding the research on the 76 final publications. Results: According to the findings, the dimensions database includes depicts the second search on the keyword of "Islamic Fintech" or "Bibliometric Analysis", than research found 97 publication from the different filed like, 51 publication form the articles, 19 publication from the edited book, 15 publication form the chapters, 7 publication form the preprint, 4 from proceedings, and 1 from the monograph. Research limitations/implications-The bibliometric analysis carried out was confined to Dimensions data. Other national and international databases were not taken into account for this research. Conclusion and suggestion: Between 2017 and 2023, this study examined relevant studies on bibliometric analysis of Islamic Fintech Publication. The study presents a concise review of the literature accessible to researchers working in this area and provides recommendations for future research.
Objective - The purpose of this research is to identify the relationship between corporate perfor... more Objective - The purpose of this research is to identify the relationship between corporate performance, Good Corporate Governance (GCG), and corporate characteristics on Islamic Social Reporting disclosure in Indonesia. Methodology/Technique - A quantitative approach is applied in this research. The sample of this study consists of companies that were consistently listed on the Jakarta Islamic Index (JII) from 2012 to 2017. A purposive sampling method with certain criteria was employed to produce a total of 72 samplings. Partial Least Square (PLS) was also used to analyse the data. Findings - The results of this research indicate that corporate performance has a positive and significant effect on ISR disclosure, GCG has a positive and significant effect on ISR disclosure, and corporate characteristics have a negative and insignificant effect on ISR disclosure. Novelty - Islamic Social Reporting is the answer and solution to the needs of the interested parties concerned with the company's financial statements. ISR becomes a very important thing for the reputation and performance of Islamic financial institutions. Islamic financial institutions that succeed in revealing their ISR value will be perceived as a reliable entity by the Muslim community in channelling their fund. Type of Paper Empirical Keywords: Islamic Social Reporting; Corporate Performance; Good Corporate Governance; Corporate Characteristics. JEL Classification: M40, M41, M49. DOI: 10.35609/afr.2019.4.1(2)
JEBIS (Jurnal Ekonomi dan Bisnis Islam), Dec 5, 2022
The current study focuses on the existence of exchange rate volatility that impacts the return of... more The current study focuses on the existence of exchange rate volatility that impacts the return of MSCI Islamic stocks in Asia emerging countries. The study also sees comparisons between Islamic emerging markets in Asia (India, China, and Korea) and Southeast Asia regions (Indonesia, Malaysia, Thailand, and the Philippines). This study's daily time series data is from January 2015 to June 2020, employing time series regression as an analysis technique. The EGARCH method is used to indicate the asymmetric model and examines the impact of both good and bad shocks generated. The results highlight that the volatility of the MSINI is statistically positive, whereas MSCNI and MSKRI show a significant adverse effect on volatility. On the other hand, Southeast Asia (MSIDI, MSMYI, MSTHI, and MSPH) has no significant effect on exchange volatility. It is interpreted that the currencies of Southeast Asian countries are not strong enough because they still depend on other exchange rates. This result can be utilized to invest in the Islamic stock market in Southeast Asia because it is not affected by exchange rate volatility. Investors can quickly react to sensitive stocks to avoid uncertainty in stock returns. The government must be advised to increase the fiscal stimulus space and provide ease of business in the real sector.
A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consum... more A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consume something halal, either in food, drink, clothes, even finance. In the pharmaceutical industry, the standard of Halal Pharmaceutical is the most crucial document that should be followed to standardize the quality and the safety of halal. This research will analyze the knowledge and attitude of Islamic economics students who have the basic knowledge about halal and analyze how their attitude to the halal pharmacy. The research method is qualitative, with a literature review and descriptive analysis data from the questioner. Information on the label will influence the choices before buying and or consuming the medicine on the customer site. Consumers prefer to choose medicine with a halal label so that it will also benefit industries that have halal labels. But, in halal pharmacy, customers still hard to applied halal things in medicine; even though customers understand about halal, custo...
Advanced Machine Learning Algorithms for Complex Financial Applications
This study aims to examine the effect of good corporate governance (GCG) on financial distress in... more This study aims to examine the effect of good corporate governance (GCG) on financial distress in companies listed on the Indonesian Sharia Stock Index. The purposive sampling method was used, obtaining 23 samples that met the criteria. Panel regression and machine learning were used to test the hypothesis. Based on the results, the variables of GCG, which consist of institutional ownership (IO), managerial ownership (MO), board of commissioners size (BoC), and proportion of independent commissioners (PI), affect financial distress simultaneously, whereas BoC and PI are partially the most significant variables. The machine learning method shows that extra trees is the best model to analyze financial distress. The model indicates the most significant variable is IO, followed by BoC and PI. From the result, Islamic issuers should manage their GCG by reducing the number of BoC, IO, and adding a proportion of PI to minimize the case of financial distress.
Pertanika Journal of Social Sciences and Humanities
Household debt has a detrimental effect on economic growth. Thus, this study examines the connect... more Household debt has a detrimental effect on economic growth. Thus, this study examines the connection between household debt and growth in institutional quality. The impact of ,the relationship on economic growth is assessed using a bias-corrected least square dummy variable of 43 nations. We discovered that institutional quality enhances the role of household debt in sustaining economic growth. Household debt is significantly detrimental to growth when institutional quality is low. Its harmful effect can be lessened with medium institutional quality. Interestingly, higher household debt is beneficial in sustaining growth if accompanied by better institutional quality. Household debt and institutions reinforce each other towards sustaining economic stability for countries with higher institutional quality. The findings are expected to assist central banks and other government authorities in formulating the relevant institutional settings for ensuring economic sustainability, such as ...
JPPM (Jurnal Pengabdian dan Pemberdayaan Masyarakat)
Desa Ploso terletak di Kecamatan Mojo Kabupaten Kediri provinsi Jawa Timur. Di desa ini terdapat ... more Desa Ploso terletak di Kecamatan Mojo Kabupaten Kediri provinsi Jawa Timur. Di desa ini terdapat pondok pesantren Al-Falah yang sampai sekarang menganut sistem manajemen tradisional. Pengembangan skill wirausaha dirasa perlu untuk dikembangkan mengingat potensi dan pengaruh pondok pesantren yang luas dalam masyarakat. Sebetulnya santri memiliki potensi untuk membantu perekonomian masyarakat sekitar, dengan cara memasarkan produk potensial dari Kediri dan dengan memanfaatkan teknologi yang sudah ada. Dengan adanya teknologi Search Engine Optimization (SEO), diharapkan para santri dapat memiliki skill lebih (bukan hanya ilmu agama) dan bisa membantu masyarakat sekitar pondok. Hasil dari penelitian kali ini adalah masih perlunya pendidikan tambahan berupa pelatihan dan workshop yang serupa dari pihak luar agar para santri mampu memiliki bekal skill yang cukup diluar ilmu agama. Dismaping itu sarana dan prasarana pondok masih sangat kurang untuk perkembangan ilmu dibidang marketing dan ...
The portfolios performance that are develop either a substitute or complement in terms of risk-ta... more The portfolios performance that are develop either a substitute or complement in terms of risk-taking is important information for investors whether the return portfolio could hedge the risk of shock market. An understanding of volatility and the correlation between asset returns over time vary is highly important for investors (both domestic and international) with the sight of diversifying their portfolios for hedging from unexpected risk. The research method uses a DCC MGARCH approach to examine the correlation among two countries in time variant manner to indicate the degree of financial integration. With daily data from April 2012 until December 2017 and use 3 category index (composite, Islamic and conventional) the result shows that Malaysia and Indonesia have strong correlation. Among Islamic, composite and conventional have financial integration, but conventional index in Malaysia have the lowest integration from other index that it makes suitable for diversification. Unfort...
Jurnal Ekonomi Syariah Teori Terapan, Jun 13, 2020
Penelitian ini bertujuan untuk mengetahui adanya hubungan antara lembaga keuangan syariah, baik l... more Penelitian ini bertujuan untuk mengetahui adanya hubungan antara lembaga keuangan syariah, baik lembaga keuangan bank maupun bukan bank, di Indonesia periode 2014-2018. Penelitian ini menggunakan metode VAR untuk mengolah data. Hasil dari penelitian ini adalah terdapat hubungan antara lembaga keuangan berbasis syariah yang ada di Indonesia. Pasar modal syariah memiliki hubungan yang positif dengan asuransi jiwa syariah. Hal tersebut terjadi karena di negara berkembang seperti Indonesia, asuransi jiwa adalah asuransi yang lebih berpengaruh jika dibandingkan dengan asuransi umum syariah. Hubungan yang terjadi pada pasar modal syariah dan asuransi jiwa syariah terjadi karena peran dari perusahaan asuransi syariah yang akan membeli saham di pasar modal syariah. Kemudian terdapat hubungan yang negatif antara perbankan syariah dengan asuransi syariah. Hal tersebut karena dalam setiap kredit yang diberikan bank kepada nasabah akan dikenakan biaya untuk asuransi. Besarnya kontribusi yang dibayar berdasarkan pada nilai dari kredit tersebut, sehingga semakin besar nilai kredit akan semain besar kontribusi yang dibayarkan. Hal tersebut akan menjadi pertimbangan oleh nasabah dalam mengambil kredit di bank. Sedangkan perusahaan asuransi sendiri tidak dipengaruhi oleh dua lembaga keuangan lainnya. Hal tersebut terjadi karena perusahaan asuransi mendapatkan modal dari pihak ketiga atau peserte mereka.
Pertanika journal of social science and humanities, Jul 5, 2022
Household debt has a detrimental effect on economic growth. Thus, this study examines the connect... more Household debt has a detrimental effect on economic growth. Thus, this study examines the connection between household debt and growth in institutional quality. The impact of the relationship on economic growth is assessed using a bias-corrected least square dummy variable of 43 nations. We discovered that institutional quality enhances the role of household debt in sustaining economic growth. Household debt is significantly detrimental to growth when institutional quality is low. Its harmful effect can be lessened with medium institutional quality. Interestingly, higher household debt is beneficial in sustaining growth if accompanied by better institutional quality. Household debt and institutions reinforce each other towards sustaining economic stability for countries with higher institutional quality. The findings are expected to assist central banks and other government authorities in formulating the relevant institutional settings for ensuring economic sustainability, such as prudent debt management and macro-prudential policy. Future studies may consider empirical analysis on a distinct split sample of advanced and emerging economies and employ different estimator methods.
The present article aims to find out the influence of social capital and human capital on perform... more The present article aims to find out the influence of social capital and human capital on performance effectiveness of Amil Zakat National Institutions in Surabaya. The method used in this research is quantitative multiple linear regression, and the data was taken from the questionnaires. This research was conducted in 2017 from four samples of Amil Zakat National Institutions namely Yatim Mandiri, Nurul Hayat, Infaq Lembaga Manajemen Infaq (LMI) dan Yayasan Dana Sosial Al Falah (YDSF). According to the results of the survey, it is observed that social capital and human capital are the significant influences of performance effectiveness on Amil Zakat National Institutions in Surabaya.
Indonesia is called feasible as a halal tourism center because the majority of its population is ... more Indonesia is called feasible as a halal tourism center because the majority of its population is Muslim. The concept of halal tourism is an actualization of the Islamic concept where halal and haram values become the main benchmark, this means that all aspects of tourism activities are inseparable from halal certification which must be a reference for every tourism actor (Chookaew et al., 2015). In tourist attractions SMEs can sell products as a distinctive Indonesian feature, but if coupled with the concept of halal tourism, the products sold by SMEs must certainly have halal certification. With the existence of halal certification, of course, it will guarantee that the products sold are suitable for foreign tourists who are very concerned about halal food or products. In addition there are also Muslim tourists from non-Muslim countries such as Singapore and France. Kemenparekraf noted that the number of Muslim tourist visits to Indonesia reached 1,270,437 people per year (Tourism, 2015). According to Perdani & Chasanah (2018), the construction of a halal guarantee system is very important because it is to safeguard products whose raw materials are not from Muslim countries. With halal certification, SME products obtain added value so that they will increase the competitiveness of Indonesian products in the international world. The purpose of this study is to find out what factors influence and which factors play the most powerful role in influencing efforts to improve the competitiveness of Small and Medium Enterprises in Eastern Indonesia. The research design used in this study is a qualitative method (by using a qualitative approach to case studies and data mining with the method of depth interview). The data used in the second (qualitative) approach is one shot, which is collected through data mining in the form of depth interviews and focus group discussions to key informants. Informants as many as 12 SMEs and the Department of Industry and Trade as well as MUI in the local area in Eastern Indonesia (Bali and Lombok). In addition to completing the depth of the discussion and allowing more in-depth findings to be produced, literature studies have also been conducted on several similar research results. The results of this study found that there are several factors influencing efforts to improve the competitiveness of Eastern Indonesia Small and Medium Enterprises namely Availability & Conditions of Business Environment, Business Capability, Business Performance, Policy and Infrastructure, Research and Technology, and External Support. The dominant factor is that policy and infrastructure want to illustrate the extent to which the implementation of policies and infrastructure in locations around MSMEs operate can support or hinder businesses to operate. In this case, there are several measurement indicators, namely the application of legal policies,
The empowerment, entrepreneurship and education are the most imperative issues among women to dev... more The empowerment, entrepreneurship and education are the most imperative issues among women to develop the country. Micro credit is one of the effective tools to eradicate poverty among poor people through enhancing women empowerment, enhancing the entrepreneurial activities and improving education level for both men and women. It has initiated the schemes to encourage entrepreneurial activities along with developing education level and enhance the women empowerment in the country. The main goal of this research is to inspect the improvement of women empowerment, evaluate the development of entrepreneurship and the education level among micro credit borrowers in Bangladesh. There are two hundred and thirty respondents were participated in this research. The data were analyzed by the descriptive and multiple linear regression analysis. The results found that the women empowerment slightly develops even though it is not significant statistically whereas the entrepreneurship and education are negatively associated with micro credit programs. This research influences the micro credit institutions to develop and focus on the application of loaned amount by borrowers to affect significantly on women empowerment, entrepreneurial activities and education level. Finally, this research is also merits the government to widen the facilities and lessen the hardship on micro credit institutions and encourages the policy in Bangladesh.
The development of free trade in Asia is currently a challenge for Indonesia. Given that trade be... more The development of free trade in Asia is currently a challenge for Indonesia. Given that trade between countries is getting unhindered efforts are needed to strengthen the sale of commodities from Indonesia to other countries or in other words the need for efforts to increase exports. Seeing the development of Islamic financial institutions are also supporting the growth of the real sector of the real thing, of course, financing can directly assist the growth of exports in Indonesia. Unfortunately, based on the results of the current study indicate where Islamic financial institutions (BUS and IKNB Sharia) is still positive effect on exports in Indonesia. This is because funds in the Islamic financial institutions still consumptive. Likewise with inflation has a negative effect while the rupiah exchange rate against the dollar would have a positive effect.
JEBIS (Jurnal Ekonomi dan Bisnis Islam), Jul 1, 2023
Introduction: In recent years, Islamic Fintech and bibliometric analysis in general have drawn mo... more Introduction: In recent years, Islamic Fintech and bibliometric analysis in general have drawn more attention in the finance literature. In this study, all papers indexed in the Dimensions database that cover the wide topic of Fintech and Islamic Fintech from 2017 to 2023 are examined using bibliometric analytical tools. Methods: The authors discovered 675 papers that met the set function, subject, and criteria requirements. The papers' publishing by knowledge area, annual study output, national contribution, author count, and most prestigious journals were all analysed. The co-occurrence of keywords and document citations was visually analysed using the VOS viewer. Filter the data set from "Islamic Fintech" or "Bibliometric Analysis" or "Literature Reviews", and concluding the research on the 76 final publications. Results: According to the findings, the dimensions database includes depicts the second search on the keyword of "Islamic Fintech" or "Bibliometric Analysis", than research found 97 publication from the different filed like, 51 publication form the articles, 19 publication from the edited book, 15 publication form the chapters, 7 publication form the preprint, 4 from proceedings, and 1 from the monograph. Research limitations/implications-The bibliometric analysis carried out was confined to Dimensions data. Other national and international databases were not taken into account for this research. Conclusion and suggestion: Between 2017 and 2023, this study examined relevant studies on bibliometric analysis of Islamic Fintech Publication. The study presents a concise review of the literature accessible to researchers working in this area and provides recommendations for future research.
Objective - The purpose of this research is to identify the relationship between corporate perfor... more Objective - The purpose of this research is to identify the relationship between corporate performance, Good Corporate Governance (GCG), and corporate characteristics on Islamic Social Reporting disclosure in Indonesia. Methodology/Technique - A quantitative approach is applied in this research. The sample of this study consists of companies that were consistently listed on the Jakarta Islamic Index (JII) from 2012 to 2017. A purposive sampling method with certain criteria was employed to produce a total of 72 samplings. Partial Least Square (PLS) was also used to analyse the data. Findings - The results of this research indicate that corporate performance has a positive and significant effect on ISR disclosure, GCG has a positive and significant effect on ISR disclosure, and corporate characteristics have a negative and insignificant effect on ISR disclosure. Novelty - Islamic Social Reporting is the answer and solution to the needs of the interested parties concerned with the company's financial statements. ISR becomes a very important thing for the reputation and performance of Islamic financial institutions. Islamic financial institutions that succeed in revealing their ISR value will be perceived as a reliable entity by the Muslim community in channelling their fund. Type of Paper Empirical Keywords: Islamic Social Reporting; Corporate Performance; Good Corporate Governance; Corporate Characteristics. JEL Classification: M40, M41, M49. DOI: 10.35609/afr.2019.4.1(2)
JEBIS (Jurnal Ekonomi dan Bisnis Islam), Dec 5, 2022
The current study focuses on the existence of exchange rate volatility that impacts the return of... more The current study focuses on the existence of exchange rate volatility that impacts the return of MSCI Islamic stocks in Asia emerging countries. The study also sees comparisons between Islamic emerging markets in Asia (India, China, and Korea) and Southeast Asia regions (Indonesia, Malaysia, Thailand, and the Philippines). This study's daily time series data is from January 2015 to June 2020, employing time series regression as an analysis technique. The EGARCH method is used to indicate the asymmetric model and examines the impact of both good and bad shocks generated. The results highlight that the volatility of the MSINI is statistically positive, whereas MSCNI and MSKRI show a significant adverse effect on volatility. On the other hand, Southeast Asia (MSIDI, MSMYI, MSTHI, and MSPH) has no significant effect on exchange volatility. It is interpreted that the currencies of Southeast Asian countries are not strong enough because they still depend on other exchange rates. This result can be utilized to invest in the Islamic stock market in Southeast Asia because it is not affected by exchange rate volatility. Investors can quickly react to sensitive stocks to avoid uncertainty in stock returns. The government must be advised to increase the fiscal stimulus space and provide ease of business in the real sector.
A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consum... more A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consume something halal, either in food, drink, clothes, even finance. In the pharmaceutical industry, the standard of Halal Pharmaceutical is the most crucial document that should be followed to standardize the quality and the safety of halal. This research will analyze the knowledge and attitude of Islamic economics students who have the basic knowledge about halal and analyze how their attitude to the halal pharmacy. The research method is qualitative, with a literature review and descriptive analysis data from the questioner. Information on the label will influence the choices before buying and or consuming the medicine on the customer site. Consumers prefer to choose medicine with a halal label so that it will also benefit industries that have halal labels. But, in halal pharmacy, customers still hard to applied halal things in medicine; even though customers understand about halal, custo...
Advanced Machine Learning Algorithms for Complex Financial Applications
This study aims to examine the effect of good corporate governance (GCG) on financial distress in... more This study aims to examine the effect of good corporate governance (GCG) on financial distress in companies listed on the Indonesian Sharia Stock Index. The purposive sampling method was used, obtaining 23 samples that met the criteria. Panel regression and machine learning were used to test the hypothesis. Based on the results, the variables of GCG, which consist of institutional ownership (IO), managerial ownership (MO), board of commissioners size (BoC), and proportion of independent commissioners (PI), affect financial distress simultaneously, whereas BoC and PI are partially the most significant variables. The machine learning method shows that extra trees is the best model to analyze financial distress. The model indicates the most significant variable is IO, followed by BoC and PI. From the result, Islamic issuers should manage their GCG by reducing the number of BoC, IO, and adding a proportion of PI to minimize the case of financial distress.
Pertanika Journal of Social Sciences and Humanities
Household debt has a detrimental effect on economic growth. Thus, this study examines the connect... more Household debt has a detrimental effect on economic growth. Thus, this study examines the connection between household debt and growth in institutional quality. The impact of ,the relationship on economic growth is assessed using a bias-corrected least square dummy variable of 43 nations. We discovered that institutional quality enhances the role of household debt in sustaining economic growth. Household debt is significantly detrimental to growth when institutional quality is low. Its harmful effect can be lessened with medium institutional quality. Interestingly, higher household debt is beneficial in sustaining growth if accompanied by better institutional quality. Household debt and institutions reinforce each other towards sustaining economic stability for countries with higher institutional quality. The findings are expected to assist central banks and other government authorities in formulating the relevant institutional settings for ensuring economic sustainability, such as ...
JPPM (Jurnal Pengabdian dan Pemberdayaan Masyarakat)
Desa Ploso terletak di Kecamatan Mojo Kabupaten Kediri provinsi Jawa Timur. Di desa ini terdapat ... more Desa Ploso terletak di Kecamatan Mojo Kabupaten Kediri provinsi Jawa Timur. Di desa ini terdapat pondok pesantren Al-Falah yang sampai sekarang menganut sistem manajemen tradisional. Pengembangan skill wirausaha dirasa perlu untuk dikembangkan mengingat potensi dan pengaruh pondok pesantren yang luas dalam masyarakat. Sebetulnya santri memiliki potensi untuk membantu perekonomian masyarakat sekitar, dengan cara memasarkan produk potensial dari Kediri dan dengan memanfaatkan teknologi yang sudah ada. Dengan adanya teknologi Search Engine Optimization (SEO), diharapkan para santri dapat memiliki skill lebih (bukan hanya ilmu agama) dan bisa membantu masyarakat sekitar pondok. Hasil dari penelitian kali ini adalah masih perlunya pendidikan tambahan berupa pelatihan dan workshop yang serupa dari pihak luar agar para santri mampu memiliki bekal skill yang cukup diluar ilmu agama. Dismaping itu sarana dan prasarana pondok masih sangat kurang untuk perkembangan ilmu dibidang marketing dan ...
The portfolios performance that are develop either a substitute or complement in terms of risk-ta... more The portfolios performance that are develop either a substitute or complement in terms of risk-taking is important information for investors whether the return portfolio could hedge the risk of shock market. An understanding of volatility and the correlation between asset returns over time vary is highly important for investors (both domestic and international) with the sight of diversifying their portfolios for hedging from unexpected risk. The research method uses a DCC MGARCH approach to examine the correlation among two countries in time variant manner to indicate the degree of financial integration. With daily data from April 2012 until December 2017 and use 3 category index (composite, Islamic and conventional) the result shows that Malaysia and Indonesia have strong correlation. Among Islamic, composite and conventional have financial integration, but conventional index in Malaysia have the lowest integration from other index that it makes suitable for diversification. Unfort...
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Papers by Sylva Rusmita