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HUMAN CAPITAL AS MODERATING THE EFFECT OF FOREIGN INVESTMENT AND FOREIGN DEBT ON ECONOMIC GROWTH Azam Asykarulloh; Joko Setyono; Mayogi Araffi; Rosihaturrosyidah Rosihaturrosyidah; Ahmad Ulil Albab Al Umar
Jurnal Ekonomi Vol. 12 No. 02 (2023): Jurnal Ekonomi, Perode April - Juni 2023
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

For developing countries, development requires capital including foreign investment and foreign debt. The capital that has been collected will then be optimally managed by good human resources so that it can produce economic growth. This study attempts to examine the effect of foreign investment and foreign debt on economic growth with the Human Development Index as a moderating variable. The findings of this study indicate that foreign investment has a direct positive effect on economic growth. Foreign debt has a negative effect on economic growth. Meanwhile, the Human Development Index can only moderate foreign debt variables and provide a positive influence.
Comparative Study Of Financial Performance (Islamic VS Conventional Bank During Covid-19) Azam Asykarulloh; Hasan Sultoni
Musyarakah: Journal of Sharia Economic (MJSE) Vol 3, No 1 (2023): April
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (288.848 KB) | DOI: 10.24269/mjse.v12i1.6890

Abstract

Covid-19 has had a significant impact on the banking economic sector, both Islamic banks and conventional banks. This article attempts to reveal a comparison of the financial performance of Islamic and conventional banking as measured using the CAMELS ratio. The camels ratio component consists of aspects of capital, assets, management, earnings, liquidity and sensitivity. This component is measured by the ratio of CAR, NPL/NPF, BOPO, ROE, LDR/FDR. The method used is the difference test with the Independent Sample T-test. The results of the study show that there are significant differences between the financial performance of Islamic and conventional banking for CAR and BOPO ratios. Meanwhile NPL/NPF, ROE and LDR/FDR did not show a significant difference.
PENGARUH FAKTOR FUNDAMENTAL TERHADAP HARGA SAHAM BANK DIGITAL DI INDEKS SAHAM SYARIAH Azam Asykarulloh; Mayogi Araffi; Desi Mahmudah; Rina Prihatin; Ahmad Ulil Albab Al Umar
Jurnal Analisa Akuntansi dan Perpajakan Vol. 7 No. 1 (2023): Jurnal Analisa Akuntansi dan Perpajakan
Publisher : Prodi Akuntansi FEB UNITOMO

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (420.973 KB) | DOI: 10.25139/jaap.v7i1.5822

Abstract

Penelitian ini bertujuan untuk mengetahui hubungan fundamental saham bank digital dengan kenaikan harga saham tahun 2020-2021. Faktor fundamental dalam artikel ini menggunakan rasio utang, rasio pendapatan, rasio pasar, BI Rate, tingkat inflasi, dan nilai transaksi bank digital di Indonesia. Kemudian variabel independen yang digunakan adalah Debt Equity Ratio (DER), Return On Assets (ROA), Price Book Value (PBV), BI Rate, Inflasi, dan Nilai Transaksi Bank Digital. Sedangkan variabel dependen yang digunakan adalah harga saham. Dalam penelitian ini populasi yang digunakan adalah bank digital yang terdaftar di indeks saham syariah (JII, ISSI, JII70, dan IDX-MES). Sampel terpilih yang memenuhi kriteria adalah Bank Syariah Indonesia, Bank Panin Syariah Dubai, dan Bank Tabungan Pensiun Syariah Nasional. Penelitian ini menggunakan analisis regresi linier berganda dengan software eviews. Hasil penelitian menunjukkan bahwa ROA, PBV, BI Rate, Transaksi Bank Digital memiliki hubungan yang positif dan signifikan dengan pertumbuhan harga saham bank digital. Sedangkan DER dan inflasi tidak berpengaruh.
Covid-19 dan The Stock Reaction Of Islamic Banking In Asia Asykarulloh, Azam; Sultoni, Hasan
Musyarakah: Journal of Sharia Economic (MJSE) Vol 4, No 2 (2024): October
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/mjse.v4i2.9373

Abstract

The number of COVID-19 cases that hit Asia also put pressure on the economy and turmoil in several stock markets. This study aims to see the reaction of Islamic banking stocks in Asia to the announcement of COVID-19 as a global pandemic by WHO. This research uses an event study method with an observation period of 10 days after and before the event day. Data were obtained through the stock trading website, and 43 banking samples from 11 countries were observed. Data analysis used One-Sample T-Test, Paired Sample T-Test, One Sample Wilcoxon Signed Rank Test, and Paired Sample Wilcoxon Signed Rank Test with the help of SPSS 21.0 tools. The results showed that there was a significant AAR around the event days. And there is a difference in CAAR before and after the event day. These results were accompanied by a negative CAAR value after the event period, which confirmed that Islamic banking stocks in Asia responded negatively to the announcement of COVID-19 by WHO. The robustness test results show that ASEAN is the most reacted region compared to the GCC, South Asia, and other areas.
MINING PUBLIC OPINIONS ON URBAN GREEN SPACES IN MAGELANG: BIG DATA SENTIMENT AND TOPIC MODELING FOR SDGS-ORIENTED POLICY Dewi, Ivana Rosediana; Asykarulloh, Azam; Utami, Cahyaning Budi
e-Journal Ekonomi Bisnis dan Akuntansi Vol. 13 No. 1 (2026): e-JEBA Volume 13 Number 1 Year 2026
Publisher : e-Journal Ekonomi Bisnis dan Akuntansi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19184/e-jeba.v13i1.60003

Abstract

Urban Green Spaces (UGS) play a crucial role in improving environmental quality, fostering social interaction, and enhancing the well-being of urban communities. In Magelang City, Indonesia, a growing small city, understanding public perceptions of UGS is essential to ensure their effective development and to align with Sustainable Development Goal (SDG) 11: Sustainable Cities and Communities. This study employs an AI-based approach to evaluate public sentiments and identify key discussion themes by applying big data analytics to user-generated reviews from Google Maps. Python-based text mining techniques were utilized, with the Valence Aware Dictionary for Sentiment Reasoning (VADER) used for sentiment classification and Latent Dirichlet Allocation (LDA) applied for topic modeling. Results show that public perception is predominantly positive, emphasizing cleanliness, comfort, aesthetic value, and accessibility. Negative sentiments, although fewer, highlight issues in facility maintenance, limited amenities, safety, and spatial accessibility. These findings provide actionable implications for policymakers by offering evidence-based justification for future investments, responsive design strategies, and continuous monitoring of UGS quality from a citizen-centered perspective. Contributing to more inclusive, safe, and sustainable urban development aligned with SDG 11.7.
Peran ESG dalam keuangan hijau: Pemetaan bibliometrik global Azam Asykarulloh; Muh Syaiful Bakhri; Muhammad Isbad Addainuri
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2389

Abstract

The study maps the developments, trends, and directions of global research in Environmental, Social, and Governance (ESG) and Green Finance during the period 2018–2025. This study uses a quantitative bibliometric approach to analyze 573 publications indexed in the Scopus database, identified by title, abstract, and keywords. The data are processed using the Bibliometrix software (R package). The analysis was carried out through several bibliometric techniques, including analysis of publication performance (annual growth, sources, and productive countries), keyword and co-occurrence analysis to identify conceptual structures, topic trend analysis to map research dynamics, and analysis of author and country collaboration to describe global scientific networks. The results show that ESG and Green Finance-related publications experienced significant growth, with an annual growth rate of 51.86%. The three most dominant themes are green finance, ESG, and sustainable development. China is emerging as a leading country in both publication output and international collaboration. In addition, the study identified several research gaps, including limited empirical evidence from developing countries, inconsistencies in ESG assessment indicators, and a lack of studies on real environmental impacts.
Bibliometric Analysis: The Role of ESG in Green Finance Azam Asykarulloh; Muh Syaiful Bakhri; Muhammad Isbad Addainuri; Askal Samiudin
Jurnal Magister Ekonomi Syariah Vol. 4 No. 2 Desember (2025): J-MES: Jurnal Magister Ekonomi Syariah
Publisher : Program Studi Magister Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/jmes.2025.042-06

Abstract

This study aims to conduct a comprehensive bibliometric analysis of the development of the Environmental, Social, and Governance (ESG) and green finance literature. Research data was obtained from 519 scientific articles indexed in the Scopus database in the period 2020–2025. The analysis was carried out using a bibliometric approach through Bibliometrix and Biblioshiny software to map the performance of publications, topic evolution, conceptual structure, and research collaboration patterns globally. The results show that ESG and green finance related publications are experiencing exponential growth, which indicates that this field is a rapidly growing emerging research front. The thematic evolution analysis indicates a shift in research focus from normative issues and regulatory frameworks to more implementive and performance-based studies, especially related to ESG performance and green finance instruments. Thematic mapping places green finance, sustainable development, and ESG performance as the underlying themes that underpin the literature, while general concepts such as ESG and sustainable finance show a tendency towards specialization or conceptual saturation. Analysis of global collaborations shows a strong geographical concentration of research, with China emerging as the dominant actor in international research networks. This research contributes by uncovering the phenomenon of publication inflation and the citation age effect, identifying potential geographical bias in the ESG and green finance literature, and proposing a policy-market integration perspective as a conceptual framework to bridge the fragmentation between regulation-based approaches and financial markets. These findings provide important implications for the development of research agendas, evidence-based policy formulation, and sustainable investment strategies.
Kajian Sektor Unggulan Ekonomi Daerah Kabupaten Temanggung: Aplikasi Metode Location Quotient, Shift Share, dan Tipologi Klassen Muh Syaiful Bakhri; Rebecca Cindy Sartika; Azam Asykarulloh
Sosio e-Kons Vol. 17 No. 3 (2025): Sosio e-Kons
Publisher : Universitas Indraprasta PGRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30998/sosioekons.v17i3.366

Abstract

Penelitian ini bertujuan mengkaji struktur ekonomi dan mengidentifikasi sektor-sektor dengan potensi pertumbuhan di Kabupaten Temanggung, Indonesia. Metode yang digunakan meliputi Location Quotient (LQ), analisis Shift Share, dan Tipologi Klassen untuk mengevaluasi keunggulan komparatif, pergeseran industri, serta klasifikasi sektor. Data diperoleh dari indikator ekonomi dan sumber statistik resmi yang memberikan gambaran sektor potensial maupun sektor yang memerlukan intervensi strategis. Hasil penelitian menunjukkan terdapat 9 sektor basis berdasarkan analisis LQ dan 16 sektor progresif menurut analisis Shift Share. Secara umum, Kabupaten Temanggung termasuk dalam klasifikasi tipologi daerah yang maju dan tumbuh pesat. Temuan ini berkontribusi pada perencanaan pembangunan ekonomi daerah dengan mengidentifikasi sektor penggerak pertumbuhan, serta merekomendasikan kebijakan pembangunan berkelanjutan dan diversifikasi untuk memaksimalkan potensi daerah dan mendorong pertumbuhan ekonomi yang seimbang.