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All Journal International Journal of Islamic Business and Economics (IJIBEC) Rausyan Fikri Journal of Islamic Studies International Journal of Islamic Business and Economics (IJIBEC)
nafisah, Hilyatun
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Religion Arts Humanities Economics, Econometrics & Finance Environmental Science Social Sciences

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Analysis of The Effect of Macroeconomics On Net Assets Value (NAV) of Sharia Mutual Funds In Indonesia Nafisah, Hilyatun; Supriyono, Supriyono
International Journal of Islamic Business and Economics (IJIBEC) Vol 4 No 1 (2020): IJIBEC VOL. 4 NO. 1 JUNE 2020
Publisher : Faculty of Islamic Economics and Business of Institut Agama Islam Negeri (IAIN) Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (362.877 KB) | DOI: 10.28918/ijibec.v4i1.1527

Abstract

Net Asset Value (NAV) is a measure of investment performance for sharia mutual funds derived from the entire value of the mutual fund portfolio fewer liabilities. This research aims to analyze the effect of the rupiah exchange rate, inflation, Jakarta Islamic Index (JII) and Bank Indonesia Sharia Certificate (SBIS) on Net Asset Value (NAV) of Sharia Mutual Funds. The object in this research consisted of 5 companies registered with the Financial Services Authority (OJK) from 2012-2019. Panel data regression analysis was used to test the hypothesis in this study. A random effect is used to determine the differences in the effect. The result of this study concluded that rupiah exchange rate, inflation and JII and SBIS effect on NAV of sharia mutual funds simultaneously. Partially, an unstable rupiah exchange rate is considered to have an impact on the company's production factors and affect the validity of the stock price; This causes investments no longer be attractive to investors, thereby reducing the value of investments that have an impact on the declining mutual fund NAV. Inflation decreases the real income of people with fixed income will also reduce the value of wealth in the form of money so that people will prefer to invest their money in the form of real assets that will result in reduced investment in the financial and capital markets and lower the NAV value of Islamic Mutual Funds. JII describes the performance of stocks which are one of the portfolios of sharia mutual funds. If the JII index value rises, then the increase in the portfolio of sharia mutual funds that share type will also rise which will have an impact on the increase in the nett asset value of sharia mutual funds. SBIS does not affect the Sharia Mutual Funds NAV. The relationship between SBIS and the Sharia Mutual Fund NAV as well as the relationship between interest rates and stock prices is negative or in the opposite direction. If interest rates rise at an adequate level, investors will try to move their investments from stocks to deposits.
Efforts of PAI Teachers in Shaping the Character of Discipline and Responsibility of Students at MA Darul Ma'arif Payaman Lamongan Nafisah, Hilyatun; Nashihin, Muhammad
Rausyan Fikri Journal of Islamic Studies Vol 2, No 2 (2024): Rausyan Fikri: Journal of Islamic Studies
Publisher : Yayasan Al-Aziziyah Tlogoagung Kedungadem Bojonegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62283/rijis.v2i2.39

Abstract

Character cultivation has an important role in overcoming the problems that occur in the world of education today. It is often found in various schools that students arrive late to school. Apart from that, there are also disciplinary problems that need to be addressed. This research aims to determine the role of Islamic religious education subject teachers in forming students' character values of discipline and responsibility at MA Darul Ma'arif Payaman Solokuro Lamongan, as well as to find out what supporting and inhibiting factors are in forming students' character values of discipline and responsibility. at MA Darul Ma'arif Payaman Solokuro Lamongan. This type of research is qualitative research or descriptive research. Descriptive type using field study methods (field research). The main research informants were Islamic religious education teachers and students of MA Darul Ma'arif Payaman Solokuro Lamongan, while secondary data sources were obtained in the form of documentation that had been determined by the researcher. Data collection techniques used participatory observation, free guided interviews and documentation. Based on the analysis carried out by researchers, it can be concluded that the formation of an attitude of discipline and responsibility is carried out using several mechanisms or methods, such as (a) habituation (b) providing examples or role models (c) awareness or motivation (d) control and supervision and ( e) the existence of regulations and punishments. There are also supporting factors such as (a) commitment of teachers and staff, (b) implementation of school programs, (c) implementation of local content. Meanwhile, the inhibiting factors are (a) lack of student awareness, (b) low student interest in learning.
Analysis of the Effect of Macroeconomics on Net Assets Value (NAV) of Sharia Mutual Funds in Indonesia Nafisah, Hilyatun; Supriyono
International Journal of Islamic Business and Economics (IJIBEC) Vol 4 No 1 (2020): Volume 4 Nomor 1 Tahun 2020
Publisher : Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/ijibec.v4i1.1527

Abstract

Net Asset Value (NAV) is a measure of investment performance for sharia mutual funds derived from the entire value of the mutual fund portfolio fewer liabilities. This research aims to analyze the effect of the rupiah exchange rate, inflation, Jakarta Islamic Index (JII) and Bank Indonesia Sharia Certificate (SBIS) on Net Asset Value (NAV) of Sharia Mutual Funds. The object in this research consisted of 5 companies registered with the Financial Services Authority (OJK) from 2012-2019. Panel data regression analysis was used to test the hypothesis in this study. A random effect is used to determine the differences in the effect. The result of this study concluded that rupiah exchange rate, inflation and JII and SBIS effect on NAV of sharia mutual funds simultaneously. Partially, an unstable rupiah exchange rate is considered to have an impact on the company's production factors and affect the validity of the stock price; This causes investments no longer be attractive to investors, thereby reducing the value of investments that have an impact on the declining mutual fund NAV. Inflation decreases the real income of people with fixed income will also reduce the value of wealth in the form of money so that people will prefer to invest their money in the form of real assets that will result in reduced investment in the financial and capital markets and lower the NAV value of Islamic Mutual Funds. JII describes the performance of stocks which are one of the portfolios of sharia mutual funds. If the JII index value rises, then the increase in the portfolio of sharia mutual funds that share type will also rise which will have an impact on the increase in the nett asset value of sharia mutual funds. SBIS does not affect the Sharia Mutual Funds NAV. The relationship between SBIS and the Sharia Mutual Fund NAV as well as the relationship between interest rates and stock prices is negative or in the opposite direction. If interest rates rise at an adequate level, investors will try to move their investments from stocks to deposits.
Co-Authors Muhammad Nashihin SUPRIYONO Supriyono Supriyono