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All Journal Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Falah : Jurnal Ekonomi Syariah Jurnal Tekun Liquidity: Jurnal Riset Akuntansi dan Manajemen Profita : Komunikasi Ilmiah dan Perpajakan Proceeding of National Conference on Accounting & Finance Journal of Islamic Accounting and Finance Research Literatus TECHNO-SOCIO EKONOMIKA Community Development Journal: Jurnal Pengabdian Masyarakat JUDICIOUS: Journal of Management Journal of Islamic Economics and Social Science (JIESS) Jurnal Ilmu Ekonomi dan Sosial (JIES) Transformatif: Ekonomi, Bisnis dan Kewirausahaan KANGMAS: Karya Scientific Community Service is a journal
Sofyan Halim
Department Of Accounting, Faculty Of Economic And Business, Mercu Buana University Jl. Meruya Selatan No. 1, Kembangan, West Jakarta, Indonesia, 11650
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Other

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Analysis of the effect on inflation, interest rate, dow jones Islamic Malaysia Index and profitability on stock prices as selected as Indonesia Sharia Stock Index Halim, Sofyan
Journal of Islamic Accounting and Finance Research Vol 2, No 2 (2020)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2020.2.2.6357

Abstract

Purpose - The purpose of this study was to analyze what influences the change in the ISSI price index. The analysis was based on the phenomena and hypotheses that occur in the capital market by examining whether there is an influence of inflation rates, interest rates, and the Dow Jones Islamic Malaysia Index as external factors, as well as profitability such as Return on Assets and Earning per Share as internal factors that have an influence on changes and fluctuations in the Sharia Stock Index.Method - The population in this study are all stocks that are encoded in the Indonesia Sharia Stock Index (ISSI) listed on the Indonesia Stock Exchange. Based on the Sharia Stock Exchange and the number of shares indexed by ISSI was 408 shares which shares were classified into 11 types of business. The study was conducted by analyzing multiple regression with t-test, significance test, F test, and classical assumption test.Result - Based on the research results of bank interest rates and the Dow Jones Islamic Malaysia Index which affect stock prices indexed as Indonesia Sharia Stock, the two variables are the external influence of the issuers of the shares. And the majority of these stock prices are strongly influenced by variable factors not examined.Implication - This research indicates that the factors that influence stock prices indexed as Islamic stocks in Indonesia, the analysis of the coefficient of determination is not significant at 0.6%, to find out other factors, other variables are needed for further research.Originality  - This research is a continuation of previous research but uses different variables from previous researches, where the dependent variable is stock prices indexed as Indonesian Islamic stocks and the independent variable is the inflation rate, interest rate, and the Malaysian Islamic Dow Jones Index as factors.
Konsep Solusi Keuangan Syariah Bagi Perusahaan Konstruksi Infrastruktur di Indonesia – Studi Kasus Konstruksi Jalan Mohamad Torik Langlang Buana; Sofyan Halim
Liquidity: Jurnal Riset Akuntansi dan Manajemen Vol 10 No 1 (2021): Liquidity
Publisher : Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32546/lq.v10i1.682

Abstract

The aim of this research is to write about the concept of akad that could be applied in provide solutions to financial needs of construction companies in infrastructure sector in Indonesia. The involvement of government in growing the construction industry of infrastructure sector is really increasing the economic aspect that would also increase the finance syariah. Construction work is unique, the period of works relatively limited, the work methods almost different. Some of construction companies rely on projects that are owned by the government such project of national road. The existence of syariah banking is relatively in long period in Indonesia, more than 25 years of operation. However, according to latest report by OJK, the contribution of syariah banking in construction industry is still relatively small, less than 8% compared to the financing by conventional bank. This research writes the concept of akad that are applicable to construction companies. The method used is library research by searching references that are related to syariah financing and infrastructure construction business, books, journals, prospectus of syariah banks and construction companies, and other sources.
The Effect of Dow Jones Islamic Market World Index, Foreign Exchange, Foreign Investment and Domestic Investment with the Intervening Composite Stock Price Index on the Indonesian Sharia Stock Index Sofyan Halim
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 13, No 2 (2021)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (46.296 KB) | DOI: 10.15408/aiq.v13i2.22116

Abstract

Abstract. The purpose of this research is to know the effect of the DJIMWI, Forex, Foreign Investment, Domestic Investment on the Indonesian Sharia Stock Index (ISSI) with the intervening of JCI in the research period. Through regression analysis, this study concludes that the DJIWMI and the foreign exchange variables have significant positive effect on the JCI. However, the JCI is not significantly affected by the foreign investment but is influenced by domestic investment. Furthermore, it shows that DJIMWI and domestic investment have a significant positive effect on ISSI. The pathway analysis shows that there is a significant effect between the JCI variables on the ISSI. DJIMWI through the JCI has a significant influence on ISSI. Meanwhile, the foreign exchange variable through the JCI has a significant influence on the ISSI variable. On the other hand, the variable of foreign investment through the JCI has no significant effect on ISSI; however, domestic investment through the JCI has a significant influence on ISSI. The limitations of the study are factors outside the research model, which are 25.88% and 53.47% of the dependent variable of JCI and ISSI.Keywords: Dow Jones Islamic Market World Index, Foreign Investment, Domestic Investment, Indonesian Sharia Stock Price Index, Composite Stock Price Index, Foreign Exchange Rate Abstrak. Tujuan dari Penelitian ini untuk mengetahui pengaruh dari variable Dow Jones Islamic Market World Index (DJIMWI), valuta asing, investasi asing, investasi domestik terhadap Indeks Saham Syariah Indonesia dengan intervening variabel IHSG pada periode yang dikaji. Melalui analisis regresi, penelitian ini menyimpulkan bahwa DJIWMI dan valuta asing berpengaruh positif secara signifikan terhadap IHSG. Namun demikian, IHSG tidak terpengaruh secara signifikan oleh investasi asing, tetapi dipengaruhi oleh investasi domestik. Selanjutnya, studi ini menunjukkan bahwa DJIMWI dan investasi domestik berpengaruh positif secara signifikan terhadap ISSI. Hasil uji melalui analisis pathway menunjukkan adanya pengaruh signifikan antara variabel IHSG pada ISSI. DJIMWI dan valuta sing melalui IHSG memiliki pengaruh signifikan terhadap ISSI. Di sisi lain, investasi asing melalui IHSG tidak berpengaruh signifikan terhadap ISSI; namun investasi domestik melalui IHSG memiliki pengaruh signifikan terhadap ISSI. Keterbatasan penelitian ada pada faktor di luar model penelitian sebesar 25,88% dan 53,47% dari variable dependen IHSG dan ISSI.Keywords: Dow Jones Islamic Market World Index, Investasi Asing, Investasi Domestik, Indeks Saham Syariah Indonesian, Indeks Harga Saham Gabungan, Valuta Asing
Analysis of the effect on inflation, interest rate, dow jones Islamic Malaysia Index and profitability on stock prices as selected as Indonesia Sharia Stock Index Sofyan Halim
Journal of Islamic Accounting and Finance Research Vol 2, No 2 (2020)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2020.2.2.6357

Abstract

Purpose - The purpose of this study was to analyze what influences the change in the ISSI price index. The analysis was based on the phenomena and hypotheses that occur in the capital market by examining whether there is an influence of inflation rates, interest rates, and the Dow Jones Islamic Malaysia Index as external factors, as well as profitability such as Return on Assets and Earning per Share as internal factors that have an influence on changes and fluctuations in the Sharia Stock Index.Method - The population in this study are all stocks that are encoded in the Indonesia Sharia Stock Index (ISSI) listed on the Indonesia Stock Exchange. Based on the Sharia Stock Exchange and the number of shares indexed by ISSI was 408 shares which shares were classified into 11 types of business. The study was conducted by analyzing multiple regression with t-test, significance test, F test, and classical assumption test.Result - Based on the research results of bank interest rates and the Dow Jones Islamic Malaysia Index which affect stock prices indexed as Indonesia Sharia Stock, the two variables are the external influence of the issuers of the shares. And the majority of these stock prices are strongly influenced by variable factors not examined.Implication - This research indicates that the factors that influence stock prices indexed as Islamic stocks in Indonesia, the analysis of the coefficient of determination is not significant at 0.6%, to find out other factors, other variables are needed for further research.Originality  - This research is a continuation of previous research but uses different variables from previous researches, where the dependent variable is stock prices indexed as Indonesian Islamic stocks and the independent variable is the inflation rate, interest rate, and the Malaysian Islamic Dow Jones Index as factors.
The Influence of Non-Performed Financing (NPF), Operational Costs, Financing to Deposit Ratio (FDR) and Net Operating Margin to Return on Assets at Indonesian Sharia Commercial Banks Sofyan Halim; Mohamad Torik Langlang Buana
Falah: Jurnal Ekonomi Syariah Vol. 6 No. 2 (2021): AUGUST 2021
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jes.v6i1.16179

Abstract

This study aims to determine the influence of Non-Performed Financing (NPF), Operational Costs,  Financing to Deposit Ratio (FDR) and Net Operating Margin to Return on Assets at Indonesian Sharia Commercial Banks. This research was a quantitative using causal method to analyze the relationship between research variables. Data collected in this study from year 2016 to 2020 from the Financial Services Authority official website www.ojk. go.id. The result found that Non-Performed Financing (NPF), Operational Costs and Financing to Deposit Ratio (FDR) have no significant effect on Return on Assets. While Net Operating Margin has significant positive effect to Return on Assets at Indonesian Sharia Commercial Banks. This research is expected to provide a contribution that can be a solution, suggestion and recommendation that can be used as a reference for decision-makers, especially stakeholders of Sharia Commercial Banks in Indonesia.  The results of this study is expected to add the repertoire of scientific literature, especially studies on the management of sharia financial transactions.
PENGARUH LEVERAGE, RETURN ON INVESTMENT (ROI), RETURN ON EQUITY (ROE), COST OF CAPITAL (COC) TERHADAP INVESTASI ASING LANGSUNG PADA MULTINATIONAL CORPORATION YANG TERDAFTAR DI BURSA EFEK INDONESIA Sofyan Halim
TEKUN: Jurnal Telaah Akuntansi dan Bisnis Vol 8, No 2 (2017)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/tekun.v8i2.5535

Abstract

This study aims to examine and examine the effects of leverage, return on investment, return on equity and cost of capital on foreign direct investment in multinational corporations listed on the Indonesia Stock Exchange. By using a causal method with the aim to test the hypothesis about the effect of leverage, ROA, ROE and cost of capital to foreign direct investment. In addition, it aims to examine the relationship between variables that are symmetrical, with a sample of 66 PMA companies listed on the Indonesia Stock Exchange. Based on result of hypothesis test of research get result that Laverage, Return On Investment, Return On Equity and Cost Of Capital have no effect to foreign direct investment, in this case is portion of foreign stock at PMA company that researched
Implementation Of Social Function With Qardh Contract At Bank Devisa Syariah In Indonesia Mohamad Torik Langlang Buana; Sofyan Halim
Profita : Komunikasi Ilmiah Akuntansi dan Perpajakan Vol 13, No 2 (2020)
Publisher : Fakultas Ekonomi Dan Bisnis, Universitas Mercu Buana, Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/profita.2020.v13i2.012

Abstract

The aim of this research is to check and find out the implementation of social function from foreign-activity (devisa) sharia banking in Indonesia. The research method is using observation by analyzing the yearly financial reports, information stated in notes to the accounts, the research also using interview with front end staffs in some foreign-activity sharia banking, the interviews were also held with communication with call center’s from those banks. The technique of collecting data for this research is field research with relating the reference to the principles. Using direct interview with non-structured interview. Analyzing the data were held qualitatively and presented in descriptive manners. Based on the research, it took the conclusions, that the application of qardh lending in foreign-activity sharia banking is not applicable to ordinary customers. In some foreign-activity (devisa) sharia banks, there are exist qardh loan application with some prequisities such gold as collateral, through credit cards facility with blocking balance of funds in savings account. The research concludes that the social financing is not available for ordinary customers, even the reports showing the increment the value in the year of 2015, 2016 and 2017
Pengaruh Return On Asset, Debt To Equity Ratio, Dan Current Ratio Terhadap Nilai Perusahaan Sektor Industri Tambang di Bursa Efek Indonesia Periode 2016-2019 Muhamad Solihin; Sofyan Halim
Jurnal Ilmu Ekonomi dan Sosial (JIES) Vol 11, No 1 (2022): Maret 2022
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jies.v11i1.11415

Abstract

This study is to determine the effect of Return On Asset (ROA), Debt To Equity Ratio (DER), and Current Ratio (CR) on Firm Value. The object of this research is the mining sector which is listed on the Indonesia Stock Exchange in 2016-2019. This research was conducted on 72 samples using a quantitative descriptive approach. Therefore, the data analysis used is statistical analysis in the form of multiple linear regression tests. The results of this study indicate that partially, the variable Return On Asset (ROA), Current Ratio (CR) and Debt to Equity Ratio (DER) have a significant effect on the value of the mining sector companies listed on the Indonesia Stock Exchange. This is evidenced by the results of the partial test (Tongan test) which also shows the significant value of the three independent variables that support the hypothesis. The simultaneous test results (F test) also show that the independent variable simultaneously affects the dependent variable. Therefore, the results of this study found that there is a significant influence between Return on Assets (ROA), Current Ratio (CR) and Debt To Equity Ratio (DER) on Company Value listed on the Indonesia Stock Exchange
The Non Performed Financing Effect on Financing and Control Strategy and Handling of Sharia Commercial Banks Sofyan Halim; Mohamad Torik Langlang Buana
Journal of Islamic Economics and Social Science (JIESS) Vol 2, No 2 (2021)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (535.643 KB) | DOI: 10.22441/jiess.2021.v2i2.004

Abstract

Problematic financing or often referred to as Non-Performed Financing is financing that has difficulty paying off, either due to lack of accuracy in the analysis of lending or due to economic conditions that experience instability which results in failure in most economic activities. The research conducted is examining the problematic financing whether it influences the decision-making of financing with various Islamic contracts, namely the mudharabah, musyarakah, Murabaha, salam, istishna, Ijarah, Qard, and Hiwalah agreements and examines the strategies carried out by the Shari'ah Commercial Bank to do handling the problematic financing.The study was conducted with quantitative and descriptive methods, with the results of the study that NPF In Mudharabah, Murabahah, and ijarah contract financing there is a positive relationship between the two variables, so it can be concluded that the increase in NPF does not affect the fund distribution policy with mudharabah agreements, because The contract positively increases, while the NPF for financing with Musyarakah, Istishna and qardh contracts has a negative relationship so it can be concluded that the NPF in financing with the Musharaka contract has a negative effect in the sense that the Shari'ah Commercial Bank in general distributing financing to customers is limited due NPF by paying attention to redline facilities, BUS only provides financing facilities for businesses that contain minimal risks. NPF in general, Sharia Commercial Banks do not really influence policies in financing distribution to customers with various financing agreements. The results of the regression determination analysis show that the percentage effect of NPF on financing distribution policies with mudharabah, musyarakah, Murabaha, Murabaha, istishna, ijarah, and qardh contracts in Islamic Commercial Banks is 33.8%, while the remaining 66.2% is influenced by variables others not formulated in this research model. The Normality Test results show that the NPF and Musyarakah contract financing is normally distributed while the Mudharabah, Murabahah, Istishna, Ijarah and Qardh variables are not normally distributed because the significance is lacking.The Sharia Commercial Bank in dealing with Non-Performed Financing issues generally refers to the MUI Sharia Board Fatwa, Bank Indonesia Regulations, and OJK Regulations, which are with rescheduling, reconditioning, restructuring and  Write Off. This research is expected to be useful for stakeholders related to this research and for future researchers to be able to improve further research.
Effect Of Financing In Sharia Business Units On Profitability And Financing Risk Management Sofyan Halim
Journal of Islamic Economics and Social Science (JIESS) Vol 1, No 1 (2020)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (607.307 KB) | DOI: 10.22441/jiess.2020.v1i1.002

Abstract

Financing is one of the main functions of the operations of sharia banks, including those carried out by the Syari'ah Business Unit. Funds disbursed to the Syari'ah Business Unit are carried out by means of buying and selling, namely Murabaha contracts, greetings, and istisna agreements, then by investing in mudharabah contracts and musyarakah contracts and performing rental services with ijarah contracts. Syarai'ah Banking by carrying out the financing benefits from buying and selling, obtaining profit sharing from investing and obtaining rental opinions from the ijarah contract. Thus, the three types of income will produce and affect the level of profitability depending on the financial services carried out by PerbangkanSyari'ah, including those carried out by the Syari'ah Business Unit. In carrying out the financing there is an element of risk that needs to be managed properly and professionally, so that the risk can be minimized in the sense that the amount of financing that is categorized as non-current does not negatively affect profitability, as well as risk management such as non-perfomed financing with various contracts, can be minimized along with the level of collectibility for the financing that has been channeled. The researcher will also carry out various statistical tests in this study so that in this study the results of the conclusions are positive and can be useful for anyone who has an interest in this research. The study was conducted with a quantitative method, with the conclusion that there was a positive relationship between financing with murabaha, mudharabah, musyarakah and ijarah contracts towards profitability and in general also negatively affected the NPF with the understanding that even though there was an increase in financing distribution with contracts, however, risk control over the possibility of NPF occurring can be overcome except for financing with Murabaha contracts.This research is expected to be useful for stakeholders related to this research and for future researchers to be able to improve further research.
Co-Authors Buana, Mohamad Torik Langlang Dian Kartiko Fachrul Roza Fairas Panca Yudha Fatimah Sinar Mustika Hasian Purba Kesuma, Wijaya Muhamad Solihin Muhyarsyah Muhyarsyah Nanda Yunita Pambudi Rahardja Sembiring, Rinawati Suparno Suparno Syahputera, Kelvin Adi