Article Per Year (5 Year)
p-Index From 2021 - 2026
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This Author published in this journals
All Journal al-Uqud : Journal of Islamic Economics Business, Entrepreneurship, and Management Journal
Mohammad Anis Sumadi
UIN Sayyid Ali Rahmatullah Tulungagung
Economics, Econometrics & Finance

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THEMATIC ANALYSIS OF SHARIA STOCK PORTFOLIO DIVERSIFICATION AND FINANCIAL RATIOS: A CONCEPTUAL STUDY BASED ON THE INDONESIAN SHARIA STOCK INDEX (ISSI) Samsul Huda; Mohammad Anis Sumadi; Ashlihah; Binti Nur Asiyah; Muhammad Aswad
BEMJ: Business, Entrepreneurship, and Management Journal Vol. 4 No. 2 (2025)
Publisher : Universitas Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36563/bemj.v4i2.1953

Abstract

Indonesia’s sharia capital market, represented by the Indonesian Sharia Stock Index (ISSI), has shown rapid growth; however, sharia stock portfolio diversification practices and the use of financial ratios for profit optimization have not yet been applied systematically by investors. This study aims to thematically analyze various sharia stock portfolio diversification strategies and to explain the role of financial ratios in shaping an optimal portfolio based on issuers included in the ISSI. The method employed is a qualitative approach with a conceptual study design, using content analysis and thematic coding of secondary data sources, including journal articles, Islamic investment management books, Financial Services Authority (OJK) regulations, DSN MUI fatwas relevant to the sharia capital market, and official reports and documents related to the ISSI. The analysis identifies several main themes: diversification strategies based on sector and market capitalization, cross-instrument diversification within sharia assets, and strengthened risk management through stock selection grounded in profitability, leverage, liquidity, and valuation ratios. These findings indicate that integrating portfolio diversification strategies with the appropriate use of financial ratios has the potential to enhance returns on sharia stock portfolios while keeping risk within acceptable limits, thereby offering a conceptual contribution to the development of ISSI based sharia investment strategies.
ESG-based Public Financial Management and Sustainable Regional Development: An Islamic Economic Perspective Samsul Huda; Mirza Avicenna Asyifyan; Mohammad Anis Sumadi; Agus Eko Sujianto; Muhammad Abrar bin Bahaman
al-Uqud : Journal of Islamic Economics Vol. 10 No. 1 (2026): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v10n1.p125-160

Abstract

This study examines the relationship between ESG-Based Public Financial Management (ESG-PFM) and Sustainable Regional Development (SRD), with Social SDGs Achievement (SSA) as a mediator and Regional Fiscal Capacity Level (RFCL) as a moderator. Using a quantitative explanatory approach, the study analyzes 340 observations from 34 Indonesian provinces (2015–2024). Composite indices are constructed using Principal Component Analysis (PCA), followed by panel data regression and Partial Least Squares Structural Equation Modeling (PLS-SEM) for robustness assessment. The findings reveal significant relationships among ESG-PFM, SSA, and SRD, with SSA serving as a mediating mechanism and RFCL significantly moderating the SSA–SRD relationship. Theoretically, this study contributes to Islamic public finance by integrating amanah (responsible stewardship), maslahah (public welfare), and maqasid al-Shariah into sustainability-oriented fiscal governance. It advances a value-based perspective linking fiscal accountability, ethical resource allocation, distributive justice, and sustainable public welfare.
Co-Authors Agus Eko Sujianto Ashlihah Binti Nur Asiyah Mirza Avicenna Asyifyan Muhammad Abrar bin Bahaman Muhammad Aswad Samsul Huda