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Cointegration of Stock Market and Exchange Rate in Indonesia Pantas, Pribawa E; Ryandono, Muhamad Nafik Hadi; Munir, Misbahul; Wahyudi, Rofiul
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol 2, No 2 (2019)
Publisher : Universitas Ahmad Dahlan

This study aims to determine the long-term relationship between stock market and exchange rate in Indonesia. The research method used is Johansen cointegration test. The results of this study found no cointegration between the variables tested. Thus the exchange rate, JII, and IHSG have no relationship in the long term. The fluctuation of the rupiah exchange rate in recent years did not generally affect the performance of stock indices especially after the global financial crisis of 2008. This shows the capital market in Indonesia has a good performance so that it is not so sensitive to the sentiment of the decline in the rupiah against the US dollar. This finding is in line with the findings of Syahrer (2010) which states the exchange rate has no effect on the stock market.

Islamic Banking Efficiency in Indonesia and Malaysia: Two Stages Data Envelopment Window Analysis Pantas, Pribawa E; Susetyohadi, Agus; Azwita, Laurin
al-Uqud : Journal of Islamic Economics Vol 5, No 2 (2021): July
Publisher : Universitas Negeri Surabaya

This study aimed to evaluate the efficiency of Islamic banks in Indonesia and Malaysia and examine the determinants of their efficiency in 2015-2019 using a two-stage data development window analysis approach. The research involves 13 Indonesian Islamic banks and 16 Malaysian Islamic banks. The first test step using the Data Envelopment Window Analysis (DEWA) approach has shown that the Islamic Bank's efficiency in managing resources is inefficient. The second research process using the Tobit model shows that the Capital Adequacy Ratio (CAR), Return on Asset (ROA), Non-Performing Financing (NPF), and Deposit Ratio Financings (FDR) do not have a significant impact on the efficiency of Indonesian Islamic Banking. Though CAR has significant positive effects on banking efficiency in Malaysia, NPF has a significant impact on Malaysian Islamic banks' efficiency. This study implies that the banking industry players increase their efficiency, mainly to enhance the amount of finance directed more towards the production sector, to increase the Islamic banking industry's market share in both countries.

Pengaruh Indikator Makroekonomi Terhadap Volume Perdagangan Sukuk Ritel di Indonesia Hanifah, Iffah Nur; Pantas, Pribawa E
Etihad: Journal of Islamic Banking and Finance Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v2i2.4355

Retail Sukuk is a sharia investment instrument that serves as an alternative to state financing in building infrastructure to improve people's welfare. Most of the factors that significantly influence trade volume or public demand for retail Sukuk are macroeconomics indicators. The purpose of this research is to analyze the existence of a relationship between the short term and the long term in macroeconomic indicator variables consisting of inflation, exchange rates, SBIS, M2, and GDP with the variable volume of retail Sukuk trading in the period 2011-2019 consisting of 108 samples. This study using the Vector Error Correction Model (VECM) with Microsoft Excel and Eviews 9 software. The results show that the inflation, exchange rates, SBIS, M2, and GDP variables positively influence the trading volume of retail Sukuk. Whereas in the short term, all variables do not affect.Sukuk ritel adalah salah satu instrumen investasi syariah yang berfungsi sebagai alternatif pembiayaan negara dalam membangun infrastruktur untuk meningkatkan kesejahteraan masyarakat. Sebagian besar faktor yang memiliki pengaruh besar terhadap volume perdagangan atau permintaan masyarakat terhadap sukuk ritel adalah indikator makroekonomi. Tujuan penelitian ini untuk menganalisis adanya hubungan antara jangka pendek dan jangka panjang dalam variabel indikator makroekonomi yang terdiri dari inflasi, nilai tukar, JUB, SBIS, dan PDB dengan variabel volume perdagangan sukuk ritel dalam kurun waktu 2011 -2019 terdiri dari 108 sampel. Penelitian ini menggunakan model Vector Error Correction Model (VECM) dengan Microsoft Excel dan software Eviews 9. Hasil penelitian menunjukkan variabel inflasi, nilai tukar, JUB, SBIS, dan PDB memiliki pengaruh positif terhadap volume perdagangan sukuk ritel, sedangkan dalam jangka pendek seluruh variabel tidak memiliki pengaruh.

ANALISIS TINGKAT EFISIENSI DAN TINGKAT PRODUKTIVITAS PADA BANK UMUM SYARIAH PERIODE 2015-2019 Putri, Lisma Febriani; Pantas, Pribawa E
Islamic Economics, Finance, and Banking Review Vol. 1 No. 2 (2021): Desember
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/iefbr.v1i2.4758

ANALISIS TINGKAT EFISIENSI DAN TINGKAT PRODUKTIVITAS PADA BANK UMUM SYARIAH PERIODE 2015-2019

Determinants of Islamic Banking Social Fund Management Efficiency in Indonesia: Two Stages Data Envelopment Window Analysis Pantas, Pribawa E
Jurnal Ilmiah Ekonomi Islam Vol 10, No 2 (2024): JIEI : Vol.10, No.2, 2024
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v10i2.13062

The presence of Law No. 21 of 2008 concerning Islamic Banking mandates Islamic banking in Indonesia; apart from carrying out fund collection and distribution activities, it also must manage social funds. This is one of the things that differentiates it from practices in conventional banks. This research aims to analyze the level of Efficiency of management of Islamic banking social funds in Indonesia and the factors that influence it using Two-Step Data Envelopment Window Analysis (DEWA) analysis based on the Scale Efficiency assumption in the first stage and the second stage using pooled Tobit regression applied to 9 Islamic banks throughout the 2018 – 2022 period. The result shows that the level of efficiency in managing social funds of Islamic banks in Indonesia shows an improving trend every year. Return on Assets (ROA) has a positive and significant effect on the social efficiency of Islamic banking. Financing to Deposit Ratio (FDR) has no significant effect or does not have a natural effect on the social efficiency of Islamic banking. Capital Adequacy Ratio (CAR) has a negative effect and is significant.

From Allocation to Impact: Evaluating the Effectiveness of School Budget Models in Indonesia Pantas, Pribawa E; fitriana, Destri
Jurnal Akuntabilitas Manajemen Pendidikan Vol. 12 No. 2 (2024): September
Publisher : Faculty of Educational Sciences, Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21831/jamp.v12i2.81829

The management of education funds in Indonesia faces serious problems in terms of distribution and transparency. One of the impacts caused by this problem is the inequality that occurs in various regions, especially in underdeveloped and remote areas. This study aims to analyze the effectiveness of education financing mechanisms in schools. A qualitative approach is used in this study with a case study technique in schools in Indonesia. Data collection techniques use interview techniques, documentation and education report data. The results of the study indicate that the effectiveness of the education budget needs to carry out three functions of education financing, namely suitability, on target, and transparency. The third function also opens the tap for local elements and communities in the school environment to play a role in more optimal supervision efforts

Pengaruh Indikator Makroekonomi Terhadap Volume Perdagangan Sukuk Ritel di Indonesia Hanifah, Iffah Nur; Pantas, Pribawa E
Etihad: Journal of Islamic Banking and Finance Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v2i2.4355

Retail Sukuk is a sharia investment instrument that serves as an alternative to state financing in building infrastructure to improve people's welfare. Most of the factors that significantly influence trade volume or public demand for retail Sukuk are macroeconomics indicators. The purpose of this research is to analyze the existence of a relationship between the short term and the long term in macroeconomic indicator variables consisting of inflation, exchange rates, SBIS, M2, and GDP with the variable volume of retail Sukuk trading in the period 2011-2019 consisting of 108 samples. This study using the Vector Error Correction Model (VECM) with Microsoft Excel and Eviews 9 software. The results show that the inflation, exchange rates, SBIS, M2, and GDP variables positively influence the trading volume of retail Sukuk. Whereas in the short term, all variables do not affect.Sukuk ritel adalah salah satu instrumen investasi syariah yang berfungsi sebagai alternatif pembiayaan negara dalam membangun infrastruktur untuk meningkatkan kesejahteraan masyarakat. Sebagian besar faktor yang memiliki pengaruh besar terhadap volume perdagangan atau permintaan masyarakat terhadap sukuk ritel adalah indikator makroekonomi. Tujuan penelitian ini untuk menganalisis adanya hubungan antara jangka pendek dan jangka panjang dalam variabel indikator makroekonomi yang terdiri dari inflasi, nilai tukar, JUB, SBIS, dan PDB dengan variabel volume perdagangan sukuk ritel dalam kurun waktu 2011 -2019 terdiri dari 108 sampel. Penelitian ini menggunakan model Vector Error Correction Model (VECM) dengan Microsoft Excel dan software Eviews 9. Hasil penelitian menunjukkan variabel inflasi, nilai tukar, JUB, SBIS, dan PDB memiliki pengaruh positif terhadap volume perdagangan sukuk ritel, sedangkan dalam jangka pendek seluruh variabel tidak memiliki pengaruh.

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