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THE CONCEPTUAL FRAMEWORK OF SOCIAL INNOVATION IN SOCIAL ENTERPRISE Sanusi, Nur Azura; Kusairi, Suhal; Mohamad, Mohd Fikri
Journal of Innovation in Business and Economics Vol 1, No 01 (2017): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

The purpose of this paper is to study the implementation of social enterprise towards empowering the wellbeing of bottom 40 group (B40) in Malaysia. It provides an overview of the existing literature in this subject area and focuses on the ability of social innovation in empowering the B40 group. Thus, in order to elevate the B40 groups towards a middle-class society, three strategies were identified in the 11th Malaysia Plan (11th MP). One of the strategies is by developing community and social-based enterprises. As stated in 11th MP, a systematic approach shall be introduced to develop community and social enterprise based on the cooperative model to carry out activities for B40 groups in urban areas. By applying the principles of social innovation into the social enterprise framework, it can move social innovators towards sustainability and self-sufficiency. This conceptual paper contains definitions, concepts, and also the characteristics of building social enterprise in businesses with emphasis on social innovation. In addition, it also states the development of basic concepts, instruments, and dimensions in social innovation principles, and also discusses strategic and systematic plans for the B40 community. Results indicated that social innovation is important in empowering the B40 community through social enterprise and can give more impact to fulfill social needs in Malaysia.

Analysis of CAMEL Components and Commercial Bank Performance: Panel Data Analysis Ping, Kee Guek; Kusairi, Suhal
Jurnal Organisasi dan Manajemen Vol. 16 No. 1 (2020)
Publisher : LPPM Universitas Terbuka

The banking industry, one of the crucial elements in economic development, circulate funds from the surplus to the deficits to create a healthy, developing, and sustainable economic condition. Besides, the primary indicator of the soundness of the financial system is the performance of banking. Therefore, the objective of the study is to analyze Capital Adequacy, Asset Quality, Management Efficiency, Earning Quality, and Liquidity (CAMEL) towards bank performance. This study employed a static panel data model and utilized data of nine developed countries from 2013-2017. Findings. The study showed that capital adequacy and earning quality had a positive impact on bank performance and conversely asset quality,management efficiency, and liquidity has a negative effect on bank performance. Holding a high liquidity asset will reduce income as liquid assets are associated with lower rates of return. It will expect that higher liquidity will negatively affect bank performance. Therefore, the researcher can conclude that the banking industry should pay attention to CAMEL components for the maintenance and supervision of bank performance, and determinant factors are essential for sustainable economic growth.

The Effect of Money Supply, Exchange Rate, and Interest Spread toward the Performance of Stock Market in Malaysia Yeoh Kai Qing; Suhal Kusairi
WIDYAKALA: JOURNAL OF PEMBANGUNAN JAYA UNIVERSITY Vol 6, No 2 (2019): Urban Development & Urban Lifestyle
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat UPJ

The stock market has become a significant role in the economy and has attracted investor's attention, as it is to generate funds and make an investment decision for companies and investors as well. Therefore, the objective of this study is to study the effect of the money supply, exchange rate, interest spread and stock market in the short and long run and volatility issue. The study employed monthly data, from January 1997 to August 2018. Method analysis is the Autoregressive distributed lag (ARDL) and GARCH model. The findings stated that the money supply, real effective exchange rate, interest spread, had a long-run effect on the performance of the stock market. Money supply and the real effective exchange rate had a positive effect on the stock market performance in the short run. Conversely, the interest spread showed a negative influent on the stock market performance in the short run. The volatility indicated a high persistence between the money supply, real effective exchange rate, interest spread and stock market (KLCI). The implication of the study is the investors or policymakers should take account the changes of interest rate and exchange rate before making stock investment or policy to stabilize the stock market performance.

THE CONCEPTUAL FRAMEWORK OF SOCIAL INNOVATION IN SOCIAL ENTERPRISE Nur Azura Sanusi; Suhal Kusairi; Mohd Fikri Mohamad
Journal of Innovation in Business and Economics Vol. 1 No. 01 (2017): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v1i01.5332

The purpose of this paper is to study the implementation of social enterprise towards empowering the wellbeing of bottom 40 group (B40) in Malaysia. It provides an overview of the existing literature in this subject area and focuses on the ability of social innovation in empowering the B40 group. Thus, in order to elevate the B40 groups towards a middle-class society, three strategies were identified in the 11th Malaysia Plan (11th MP). One of the strategies is by developing community and social-based enterprises. As stated in 11th MP, a systematic approach shall be introduced to develop community and social enterprise based on the cooperative model to carry out activities for B40 groups in urban areas. By applying the principles of social innovation into the social enterprise framework, it can move social innovators towards sustainability and self-sufficiency. This conceptual paper contains definitions, concepts, and also the characteristics of building social enterprise in businesses with emphasis on social innovation. In addition, it also states the development of basic concepts, instruments, and dimensions in social innovation principles, and also discusses strategic and systematic plans for the B40 community. Results indicated that social innovation is important in empowering the B40 community through social enterprise and can give more impact to fulfill social needs in Malaysia.

THE ROLE OF CORPORATE ZAKAT ON OPTIMAL CAPITAL STRUCTURE POLICY: EVIDENCE FROM MALAYSIAN FIRMS Talattov, Abrapuspa Ghani; Sanusi, Nur Azura; Kusairi, Suhal; Shaari, Abu Hassan
Journal of Islamic Monetary Economics and Finance Vol 1 No 2 (2016)
Publisher : Bank Indonesia

In the finance literature, the relationship between capital structure and firm value has been extensively investigated, both theoretically and empirically. The main issue on corporate finance is how firms dealing with the important decision of capital structure. In this study, a model of capital structure is formulated in which corporate tax and zakat payment exist by firms into the consideration of combination of debt and equity. The theoretical model as shown by comparative statics prove the implication which is negatively relationship between leverage of the firm and the corporate zakat payment. Meanwhile, the empirical evidence reveals several implication as follows, (1) tax deduction reduces the current liability item relative to the firms that prefer equity financing, (2) the significant of zakat is consistent with the theoretical model that zakat would encourage firm to issue more equity than debt, (3) the strong significant relationship between return on assets with the leverage are the leading indicator of capital structure in all models.

PENGARUH VARIABEL MAKROEKONOMI DAN COVID-19 TERHADAP VOLATILITAS RETURN SAHAM DI BURSA EFEK INDONESIA PERIODE MARET 2017 – APRIL 2023 Fordian, Dian; Alexandri, Mohammad Benny; Suryanto, Suryanto; Kusairi, Suhal
Adbispreneur Vol 9, No 1 (2024): AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausa
Publisher : Departemen Ilmu Administrasi Bisnis, Fakultas Ilmu Sosial dan Ilmu Politik, UNPAD

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/adbispreneur.v9i1.50743

Volatility in the form of fluctuations in the returns of a security or portfolio in a certain period predicts risk. Volatility prediction has an essential influence on investment decision-making. This study aims to determine and study the impact of macroeconomic variables and COVID-19 on the volatility of stock returns on the Indonesia Stock Exchange (IDX). This study used a quantitative approach. The data used is monthly data from January 2017 to April 2023. The data analysis method uses multiple linear regression. Macroeconomic variables, namely interest rates, exchange rates, inflation, and Covid-19, together affect the volatility of stock returns on the IDX. Partially, inflation and interest rates have a negative and significant effect on the volatility of stock returns on the IDX. Exchange rates have a positive and significant impact on stock return volatility. The COVID-19 coefficient has a negative and significant effect, meaning that, on average, there is a difference in stock return volatility before and after COVID-19, where stock return volatility after COVID-19 is lower than before.Volatilitas berupa fluktuasi dari return– return suatu sekuritas atau portofolio dalam suatu periode tertentu memprediksi risiko. Prediksi volatilitas memiliki pengaruh yang penting dalam pengambilan keputusan investasi. Penelitian ini bertujuan untuk mengetahui dan mempelajari pengaruh variabel makroekonomi dan COVID-19 terhadap volatilitas return saham di Bursa Efek Indonesia (BEI). Penelitian ini menggunakan pendekatan kuantitatif. Data yang digunakan berupa data bulanan dari Januari 2017 hingga April 2023. Metode analisis data menggunakan regresi linier berganda. Variabel makro ekonomi yaitu tingkat bunga, nilai tukar, inflasi, Covid-19 secara bersama sama mempengaruhi volatilitas return saham di BEI. Secara parsial inflasi dan tingkat bunga berpengaruh negatif dan signifikan terhadap volatilitas return saham di BEI. Nilai tukar berpengaruh positif dan signifikan terhadap volatilitas return saham. Koefisien Covid-19 berpengaruh negatif dan signifikan, berarti secara rerata terdapat perbedaan volatilitas return saham sebelum dan setelah Covid-19, di mana volatilitas return saham setelah Covid-19 lebih rendah dibandingkan sebelum.

KETERIKATAN KOMUNITAS DALAM SEBUAH BISNIS KOMUNITAS: STUDI KASUS MENGENAI KOMUNITAS PERTANIAN JATINANGOR URBAN FARMING DAN FORUM KOMUNIKASI GUNUNG GEULIS Muttaqin, Zaenal; Gunawan, Wahyu; Sukoco, Iwan; Kusairi, Suhal
Adbispreneur Vol 9, No 1 (2024): AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausa
Publisher : Departemen Ilmu Administrasi Bisnis, Fakultas Ilmu Sosial dan Ilmu Politik, UNPAD

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/adbispreneur.v9i1.53092

Why would someone join a community business? This article aims to explain the existence of community businesses in agriculture in Jatinangor and the attachment of farmers in Jatinangor to the agricultural community business. The concepts used are community business and sense of community. The method used is a qualitative case study. This article finds that Jatinangor Urban Farming (JUF) and Gunung Geulis Communication Forum (FKGG) are community businesses engaged in agriculture in Jatinangor. With distinctive characteristics, farmers who join JUF and FKGG have community attachments based on four things: membership bonds, influence from the community, unity, and fulfillment of common needs, and mutual emotional relationships.Mengapa seseorang bergabung dalam sebuah bisnis komunitas ? Artikel ini bertujuan untuk menjelaskan eksistensi bisnis komunitas dalam bidang pertanian di Jatinangor dan keterikatan para petani di Jatinangor ke dalam bisnis komunitas pertanian tersebut. Konsep yang dipergunakan adalah bisnis komunitas dan keterikatan komunitas. Metode yang dipergunakan adalah kualitatif studi kasus. Artikel ini menemukan bahwa Jatinangor Urban Farming (JUF) dan Forum Komunikasi Gunung Geulis (FKGG) merupakan bisnis komunitas yang bergerak dalam bidang pertanian di Jatinangor. Dengan karakteristik yang khas, para petani yang bergabung dengan JUF dan FKGG memiliki keterikatan komunitas berdasarkan empat hal, yakni: ikatan keanggotaan, pengaruh dari komunitas, adanya penyatuan dan pemenuhan kebutuhan bersama, serta adanya hubungan emosional bersama.

THE ROLE OF CORPORATE ZAKAT ON OPTIMAL CAPITAL STRUCTURE POLICY: EVIDENCE FROM MALAYSIAN FIRMS Talattov, Abrapuspa Ghani; Sanusi, Nur Azura; Kusairi, Suhal; Shaari, Abu Hassan
Journal of Islamic Monetary Economics and Finance Vol. 1 No. 2 (2016)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v1i2.544

In the finance literature, the relationship between capital structure and firm value has been extensively investigated, both theoretically and empirically. The main issue on corporate finance is how firms dealing with the important decision of capital structure. In this study, a model of capital structure is formulated in which corporate tax and zakat payment exist by firms into the consideration of combination of debt and equity. The theoretical model as shown by comparative statics prove the implication which is negatively relationship between leverage of the firm and the corporate zakat payment. Meanwhile, the empirical evidence reveals several implication as follows, (1) tax deduction reduces the current liability item relative to the firms that prefer equity financing, (2) the significant of zakat is consistent with the theoretical model that zakat would encourage firm to issue more equity than debt, (3) the strong significant relationship between return on assets with the leverage are the leading indicator of capital structure in all models.

Pengalaman Keuangan, Kepercayaan Diri Yang Berlebihan, Dan Toleransi Risiko Mempengaruhi Keputusan Investasi Dalam Cryptocurrency Ramadhan, Muhammad Daffa Faishal; Kusairi, Suhal
eProceedings of Management Vol. 11 No. 5 (2024): Oktober 2024
Publisher : eProceedings of Management

Show Abstract | Download Original | Original Source | Check in Google Scholar

Saat membuat keputusan investasi, dua hal penting yang harus dipertimbangkan adalah tingkat pengembalian yangakan dihasilkan dan tingkat risiko yang mungkin terjadi di masa yang akan datang. Keputusan investasi cryptocurrencydipengaruhi oleh pengalaman keuangan, kepercayaan diri, dan toleransi risiko. Dalam penelitian ini, sampel sampelpurposive sampling digunakan untuk mengumpulkan data pada 400 responden dari populasi usia produktif di KotaBandung yang berusia antara 15 dan 64 tahun. Penelitian kuntitatif ini menggunakan analisis regresi linear berganda.Hasil penelitian menunjukkan bahwa pengalaman keuangan, percaya diri berlebihan, dan toleransi risiko berpengaruhsecara parsial dan simultan terhadap keputusan investasi cryptocurrency. Kata Kunci-pengalaman keuangan, percaya diri berlebihan, toleransi risiko, keputusan investasi

The Impact of Tax Information Exchange and Foreign Direct Investment on Indonesia’s Tax Revenue (2019–2023) Kusairi, Suhal; Wulandari, Wulandari
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 5 (2025): JIMKES Edisi September 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i5.3748

Indonesia faces significant tax revenue losses due to cross-border tax evasion, prompting increased international cooperation and investment inflows to strengthen fiscal capacity. This study aims to examine how Automatic Exchange of Information, Exchange of Information on Request, Spontaneous Exchange of Information, and Foreign Direct Investment influence Indonesia’s tax revenue from 2019 to 2023. A quantitative approach was employed, using panel data from 34 Regional Tax Offices, analyzed through a fixed effects model to account for regional variations. The findings reveal that Automatic Exchange of Information significantly boosts tax revenue by 0.118% per additional case, Spontaneous Exchange of Information contributes a 0.092% increase per case, and Foreign Direct Investment drives a 4.2% revenue rise per unit increase. However, the Exchange of Information on Request shows no significant impact due to limited case activity. The study concludes that enhancing technological infrastructure for Automatic Exchange of Information and providing targeted training for Exchange of Information on Request can optimize tax compliance. These measures, combined with balanced Foreign Direct Investment policies, strengthen Indonesia’s fiscal framework, supporting sustainable economic growth and global transparency goals.

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