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All Journal JAMANTA Jurnal Ilmiah Mahasiswa Akuntansi Universitas Tulungagung
arfina hanifaturasyda
Universitas Islam Negeri Maulana Malik Ibrahim Malang
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

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DO ZISWAF FUNDS AND OPERATIONAL PERFORMANCE INFLUENCE MINIMUM RESERVE REQUIREMENTS? EVIDENCE FROM INDONESIAN ISLAMIC BANKS WITH FIRM SIZE AS A MODERATING VARIABLE arfina hanifaturasyda; Eka Wahyu Hestya Budianto
Jurnal Ilmiah Mahasiswa Akuntansi Universitas Tulungagung Vol. 4 No. 2 (2024)
Publisher : Universitas Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36563/jamanta_unita.v4i2.1353

Abstract

This study investigates the determinants of the Minimum Reserve Requirement (Giro Wajib Minimum/GWM) in Indonesian Islamic commercial banks by examining the roles of ZISWAF fund receipts, Operating Expenses to Operating Income (BOPO), and non-operating profit/loss, while assessing the moderating effect of firm size. Although the minimum reserve requirement is an essential macroprudential instrument for maintaining banking liquidity and financial stability, empirical evidence regarding the influence of Islamic banking-specific financial indicators and philanthropic fund management on GWM remains limited. This study addresses this research gap by integrating operational, financial, and Islamic social finance variables into a single empirical framework. A quantitative research design was employed using secondary data obtained from the annual and quarterly financial statements published by the Financial Services Authority of Indonesia (OJK) and the official websites of five Islamic commercial banks. The study covers the period from the first quarter of 2018 to the third quarter of 2023, yielding 115 panel observations. Panel data regression and Moderated Regression Analysis (MRA) were performed using EViews 12. The findings reveal that ZISWAF fund receipts, BOPO, and non-operating profit/loss do not individually have a significant effect on the Minimum Reserve Requirement. Furthermore, firm size does not significantly moderate the relationships between these variables and GWM. However, the variables jointly exhibit a statistically significant effect on GWM, although the model explains only 18.40% of the variation in reserve requirements. These findings suggest that GWM is influenced more by regulatory and macroprudential considerations than by banks' internal operational or philanthropic financial characteristics. The study contributes to the literature on Islamic banking liquidity management and provides practical insights for regulators and bank managers regarding the limited role of internal financial indicators in determining mandatory reserve requirements.
PENGARUH PENERIMAAN DANA ZISWAF, BOPO, LABA/RUGI NON-OPERASIONAL DAN FIRM SIZE TERHADAP GIRO WAJIB MINIMUM (GWM) PADA PERBANKAN SYARIAH PERIODE 2018.Q1-2023.Q3 arfina hanifaturasyda; Eka Wahyu Hestya Budianto
Jurnal Ilmiah Mahasiswa Akuntansi Universitas Tulungagung Vol. 4 No. 2 (2024)
Publisher : Universitas Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36563/jamanta_unita.v4i2.1353

Abstract

Abstract The intention of this analysis is to establish the impact of ZISWAF Fund Receipts, BOPO, and Non-Operational Profit/Loss on GWM in Sharia Banking in Indonesia, while considering Firm Size as a moderating factor. The research utilizes secondary data sourced from annual reports obtained through ojk.go.id and websites belonging to associated companies. The sampling method employed was selective sampling. With total of 5 financial reports from islamic banking companies for the period of 2018.Q1-2023.Q3 were utilized as the sample. Determined from the research findings, it is apparent that there is infinitesimal impact on the Statutory Reserve from receiving ZISWAF, BOPO, and non-operational profit/loss funds. Moreover, when considering moderating variables, it is observed that firm size does not have the capacity to moderate the effects of receiving ZISWAF funds, BOPO, and non-operational profit/loss on the Minimum statutory Reserve in Islamic banking in Indonesia from 2018.Q1 to 2023.Q3. In future research, it is hoped that other variables will be used as moderating variables. Apart from that, it is better not only to look at the banking sector, but also to look at companies from the other sectors. Abstrak Dengan menggunakan ukuran perusahaan sebagai faktor moderasi, analisis ini bertujuan untuk mengetahui bagaimana GWM pada perbankan syariah di Indonesia dipengaruhi oleh penerimaan dana ZISWAF, BOPO, dan laba/rugi non-operasi. Analisis didasarkan pada data sekunder yang diperoleh dari laporan tahunan OJK.go.id dan website perusahaan terkait. Jumlah lima laporan keuangan Perbankan Syariah diambil sampel melalui metode sampel pilihan. Hasil penelitian menunjukkan bahwa penerimaan dana ZISWAF, BOPO, dan laba/rugi non-operasi tidak memengaruhi Giro Wajib Minimum secara signifikan. Selanjutnya, pada interaksi variable moderasi, ukuran perusahaan tidak dapat memoderasi penerimaan dana ZISWAF, BOPO, dan laba/rugi non-operasi terhadap GWM pada perbankan syariah di Indonesia dari 2018 Q1 hingga 2023 Q3. Terdapat harapan bahwa variabel tambahan akan digunakan sebagai variabel moderasi dalam penelitian mendatang. Disarankan untuk melihat perusahaan dari berbagai bidang selain industri perbankan.
Co-Authors Eka Wahyu Hestya Budianto