Saddan Husain
Institut Agama Islam Negeri Parepare

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THE APPLICATION OF THE CAPITAL ASSET PRICING MODEL (CAPM) METHOD AS A BASIS FOR INVESTMENT DECISION MAKING IN LQ45 INDEX STOCKS ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019-2023 Nurul Wahyuni; Rismala; Saddan Husain
Islamic Financial And Accounting Review Vol. 3 No. 2 (2025): Islamic Financial And Accounting Review
Publisher : Institut Agama Islam Negeri Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/ifar.v3i2.14959

Abstract

In the world of investment, investors must be able to identify investment opportunities that provide returns so that they can generate optimal levels of return with minimal risk. This study aims to analyze stock investment decisions using the Capital Asset Pricing Model (CAPM) using the LQ45 Index as a market proxy. This type of research is descriptive research with quantitative methods. The data source used is secondary data, namely monthly closing price data. The sampling in this study was determined using purposive sampling, out of 45 companies included in the LQ45 index, only 23 companies met the criteria and became a research sample. The data analysis method was used using the Capital Asset Pricing Model (CAPM) method to classify undervalued and overvalued stocks using Microsoft Excel 2016. The results of the calculation of the rate of return of individual shares (Ri) resulted in an average of 0.00506, with the largest return owned by ANTM shares and the lowest by INDF shares. The average systematic risk is worth more than 1, which is 1.25, so in general, the 23 shares of the companies used as research samples have high systematic risk and tend to be active in responding to market price changes. Based on the data analysis, there is a nonlinear relationship between systematic risk (β) and the expected rate of return on shares [E(Ri)]. Of the 23 company stocks that were the research sample, there were 12 company stocks that were included in the undervalued category, namely, ADRO, ANTM, BBCA, BBNI, BBRI, BBTN, BMRI, CPIN, EXCL, INCO, INKP, ITMG. Meanwhile, there are 11 company stocks that are in the overvalued category, namely, ASII, ICBP, INDF, INTP, KLBF, PGAS, PTBA, SMGR, TLKM, UNTR, UNVR.
ANALYSIS OF SHARIA ACCOUNTING IN THE COLLECTION OF ZAKAT FUNDS THROUGH SOCIAL MEDIA AT BAZNAS, ENREKANG REGENCY Sartika Sartika; Saddan Husain; Rismala
Islamic Financial And Accounting Review Vol. 4 No. 1 (2025): Islamic Financial And Accounting Review
Publisher : Institut Agama Islam Negeri Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/ifar.v4i1.15568

Abstract

In the ever-growing digital era, zakat management institutions are required to adapt to modern society's communication and transaction patterns. BAZNAS Enrekang Regency responds to this dynamic by utilizing social media and digital platforms as a strategic means to increase zakat collection. This research aims to identify innovations and strategies implemented by BAZNAS Enrekang in collecting zakat through social media, as well as evaluate its effectiveness in increasing muzakki participation. Using a descriptive qualitative approach, data was collected through observation, documentation, and in-depth interviews with resource persons who play a direct role in the implementation of the digitalization strategy, including social media managers and institutional leaders. The results of the study show that BAZNAS Enrekang actively uses various social media such as Instagram, TikTok, YouTube, and WhatsApp chatbots to disseminate information, zakat education, and activity reports. The use of QRIS is also an innovative solution in facilitating digital zakat payments. This strategy has been proven to be able to increase digital interaction, build public trust, and expand the reach of information. However, obstacles such as limited human resources and documentation tools are still challenges that need to be overcome. Overall, digitalization at BAZNAS Enrekang not only contributes to increasing zakat collection, but also strengthens transparency and accountability in zakat management at the regional level, making it a relevant example of adaptation in the midst of today's digital transformation.