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MODEL PREDIKSI FINANCIAL DISTRESS : PENGARUHNYA TERHADAP KINERJA SAHAM INDUSTRI TEKSTIL DAN GARMEN DI INDONESIA Riantani, Suskim; Delvia, Sherly; Sodik, Gugun
BISMA: Jurnal Bisnis dan Manajemen Vol 14 No 1 (2020)
Publisher : Jurusan Manajemen Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19184/bisma.v14i1.8858

Abstract

This study aims to predict the possibility of Financial distress in the textile and garment industry using the Altman Z-score prediction model and analyze the impact of Financial distress on the company's stock performance as measured by stock returns. This research used descriptive analysis and verification methods. Applying a purposive sampling method, the research sample consisted of 15 issuers from the textile and garment industry during the observation period of 2012-2016. This research used panel data regression to analyze research data. The results showed that one company did not experience financial problems, one company had potential financial problems, and the 13 other companies experienced Financial distress. The results of model testing showed that Altman Z-score can be used to predict Financial distress conditions in the textile and garment industry for the 2012-2016 period. The results of hypothesis testing showed that only one ratio of the Altman Z-score model has a significant effect on stock returns, i.e., market value of equity to book value of debt, while other ratios of working capital to total assets, retained earnings to total assets, earnings before interest and taxes to total assets, and sales to total assets have no significant effect on stock returns. These findings imply that the investors in the textile and garment industry attentively observe the company's market value in making any investment decisions. Keywords: Altman Z-score, Financial distress, stock returns, textile and garment industry
Sejarah Kebijakan Moneter di Dunia Islam: Periode Umawiyah hingga Turki Utsmani Sodik, Gugun; Janwari, Yadi; Al-Hakim, Sofian
Eco-Iqtishodi : Jurnal Ilmiah Ekonomi dan Keuangan Syariah Vol. 6 No. 2 (2025): Eco-Iqtishodi: Jurnal Ilmiah Ekonomi dan Keuangan Syariah
Publisher : Program Studi Ekonomi Syariah Institut Manajemen Koperasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32670/ecoiqtishodi.v6i2.4968

Abstract

This thesis explores the development of monetary policy in the Islamic world, from the Umayyad Dynasty to the Ottoman Empire. The research aims to analyze the evolution of monetary policies, including the minting and standardization of currency, tax administration, and fiscal systems across various Islamic empires that ruled between the 7th and early 20th centuries. During the Umayyad period, the standardization of dinar and dirham coins played a crucial role in international trade. Tax policies, such as jizyah and kharaj, strengthened the fiscal stability of the state. In the Abbasid era, banking and financial administration saw significant growth, with the establishment of institutions like the Baitul Mal and the implementation of the iqtāʿ system. The Umayyad Caliphate in Spain minted gold dinars, supporting the economy of Al-Andalus and connecting it to the Mediterranean trade networks. Smaller kingdoms, including the Fatimid, Mamluk, Safavid Persia, and Mughal India, each introduced innovations in monetary policy and trade, particularly in the use of gold and silver, as well as fiscal policies to maintain economic stability. The Ottoman Empire, as the last great Islamic power, faced significant challenges from internal economic crises and the influence of European colonial powers. Monetary and fiscal reforms were key in the Ottoman efforts to survive, though ultimately insufficient to prevent the empire's collapse. The research concludes that monetary policy in the Islamic world was historically influenced by internal factors, such as political stability and economic development, and external factors, including international trade relations and colonial threats. These policies played a vital role in maintaining economic stability during various periods of governance, but also highlighted the challenges faced by these empires in adapting to global changes.
Ekonomi Islam dan Pembangunan Lembaga yang Inklusif: Menyongsong Keadilan Sosial Berkelanjutan dalam SDG 16 Sodik, Gugun; Riantani, Suskim
Eco-Iqtishodi : Jurnal Ilmiah Ekonomi dan Keuangan Syariah Vol. 7 No. 1 (2025): Eco-Iqtishodi: Jurnal Ilmiah Ekonomi dan Keuangan Syariah
Publisher : Program Studi Ekonomi Syariah Institut Manajemen Koperasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32670/jab6fw64

Abstract

The Sustainable Development Goals (SDGs), established by the United Nations, serve as a global framework for fostering a more equitable, peaceful, and sustainable world. Among the 17 goals, SDG 16 emphasizes the importance of peace, justice, and strong institutions, which form the foundation for inclusive and sustainable development. This research focuses on the role of SDG 16 from the perspective of Islamic economics, aiming to explore how the principles of Islamic economics—particularly those related to social justice, wealth distribution, and institutional strengthening—can contribute to achieving these objectives. In the context of Islamic economics, the goal of creating a just and peaceful society is rooted in values such as adl (justice), mizan (balance), and maslahah (public interest), which are central to Islamic policies and economic practices. Islamic economics emphasizes transparency, accountability, and the equitable management of resources, aligning closely with the principles outlined in SDG 16. Additionally, Islamic financial instruments, such as zakat, waqf, and other social funds, play a vital role in strengthening economic structures that promote social justice and community well-being. Using a qualitative approach and comparative analysis, this study examines the application of Islamic economic principles in the context of sustainable development, with a particular focus on Muslim-majority countries that have integrated Sharia-based values into their economic policies. The research also discusses the challenges and opportunities faced by these countries in effectively implementing SDG 16. The findings of this study suggest that the application of Islamic economic principles, which prioritize justice, fair distribution, and the strengthening of legal institutions, can serve as an effective solution for achieving peace, social justice, and strong institutions in these nations. Overall, the study concludes that Islamic economics not only provides a moral and ethical foundation for achieving SDG 16 but also offers practical approaches to addressing social injustice, economic inequality, and social-political instability. Therefore, the integration of Islamic economic principles into sustainable development policies becomes a strategic step toward creating a more just, peaceful, and sustainable world. Key Word: Sustainable Development Goals (SDGs). Peace, Justice, and Strong Institutions, Islamic Economics. Social Justice.