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THE ROLE OF THE SHARIA SUPERVISORY BOARD (SSB) IN MODERATING THE EFFECT OF GOOD CORPORATE GOVERNANCE ON FINANCIAL PERFORMANCE OF ISLAMIC BANKS IN INDONESIA Siswanti, Indra; Risman, Asep; Elmi, Farida; *, Markonah; Cahaya, Ferry
The International Journal of Accounting and Business Society Vol 29, No 1 (2021): The International Journal of Accounting and Business Society
Publisher : Accounting Department,

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

Abstract

Purpose — The aims of this research to examine and analyze the extent of the role of the sharia supervisory board (SSB) in moderating the effect of good corporate governance on the financial performance of Islamic banks in Indonesia.  Design/methodology/approach — Population in this research is 14 (fourteen) Islamic banks in Indonesia and the sample used in this research is 9 (nine) Islamic banks that have published financial reports, good corporate governance reports, and annual reports for the period 2010 - 2019. This research data processed were processed using reviews-10.Findings — The results of this research stated that good corporate governance has a significant effect on the financial performance of Islamic banks. The sharia supervisory board (SSB) moderates the effect of good corporate governance on the financial performance of Islamic banks in Indonesia.Practical Implications — The chow test stated chosen model as fixed effects, then the Housman test stated chosen model as random effects. Thus the model used in this research is a random effect.Originality/value — To complete the results, this research used in-depth interviews with practitioners of Islamic banks in Indonesia, specifically the departement of compliance with Islamic banks.Keywords Good corporate governance, Sharia  Supervisory Board, financial  performancePaper Type Research Paper.
Semi-Strong Efficient Market Hypothesis in Dividend Announcements on the IDX Ningrum, Mersa Lestari; Risman, Asep
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 6, No 1 (2022)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v6i1.14247

Abstract

This research examines the semi-strong form of the market efficiency hypothesis in the context of dividend announcements on the Indonesia Stock Exchange (IDX), specifically good news in the form of an increase in dividend value over the previous year and bad news in the form of a decrease in dividend value over the previous year. This research aimed to see how dividend announcements affect stock prices and how efficient the market reaction is. The samples used in this study are the companies listed on the mainboard with a cash dividend payment policy once a year and consistently distribute dividends in a row in 2020 and 2021. The observation method used in this study is non-participatory. The return anomaly of up to 59 sample companies was used, with a 21-day observation period. One statistically significant event occurred when dividend announcements increased, and three statistically significant events occurred when dividend announcements dropped, according to the data processing results by t-test. It demonstrates that the market is efficient and supports the market efficiency hypothesis in its semi-strong form.
Performance Analysis of Protected Fund and Equity Fund Using Sharpe, Treynor, Jensen Ningrum, Mersa Lestari; Risman, Asep
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 6, No 1 (2022)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v6i1.15228

Abstract

This study was conducted to determine the mutual funds' performance of capital-protected and equity funds from February 2021 to August 2021. Return, risk, Sharpe index, Treynor index, and Jensen index are all used to evaluate mutual fund performance. Sample data consisted of 462 capital-protected fund products and 273 equity fund products. The performance of equities funds outperforms that of capital-protected funds, according to the average Sharpe index. The Treynor index showed that capital-protected funds outperformed the market. The Jensen index shows that capital-protected funds outperform equity funds. In March, April, and May, capital-protected funds outperform the market (JCI), whereas equities funds outperform in April and August. In April, capital-protected funds outpaced risk-free investments, whereas equity funds outperformed in February, July, and August. The Independent T-Test is the statistical approach used to test the hypothesis. The findings revealed no substantial differences between capital-protected funds and equity funds, allowing investors to invest in one or both.
The Islamic Perspective of Gold-Based Investment: The Case of Indonesia Risman, Asep; Markonah, Markonah; Mubarok, Jaih; Saputra, Budi Lestijawan Eka
Tazkia Islamic Finance and Business Review Vol. 18 No. 1 (2024): TIFBR
Publisher : Faculty of Islamic Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v18i1.363

Abstract

Currently, there are many gold-based investment products, and investors are interested because some of them use sharia labels. Therefore, this study aims to identify and investigate gold-based investments from an Islamic perspective. It is hoped that this research can contribute new findings and enrich existing literature regarding gold investment in Indonesia, providing benefits for Muslim investors and the Muslim community in general. This study used qualitative research methods. Semi-structured interviews were conducted with parties who offer gold-based investment products on a large scale. Additional data sources include documents and manuscripts from the National Sharia Council (DSN-MUI) as well as author analysis. These findings show that not all gold-based investments in Indonesia comply with sharia principles. Only gold murabahah conducted by Islamic banking institutions meets sharia compliance.
Comparing Optimal Portfolios: Markowitz vs. Single Index Models for IDX High Dividend 20 Stocks (2022) Melati, Rampi; Risman, Asep
Journal of Business Innovation and Research Vol 3, No 1 (2024): JOURNAL OF BUSINESS INNOVATION AND RESEARCH
Publisher : UPN Veteran Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31315/jubir.v3i1.11226

Abstract

This study aims to implement portfolio models using the Markowitz Model and Single Index Model, and to qualitatively compare the portfolios formed by these two models. A quantitative descriptive approach is employed. The study focuses on a population of 24 companies listed in the IDX High Dividend 20 stock index for the year 2022. The optimal portfolio formation through the Single Index Model results in 5 candidate companies: ADRO (36.06%), BBCA (12.87%), BBNI (22.34%), BBRI (21.86%), ITMG (6.87%) with a return of 3.44% and a portfolio risk of 0.23%. Meanwhile, the Markowitz Model results in 6 candidate companies: ADRO (18.81%), BBCA (2.21%), INDF (20.25%), ITMG (12.75%), KLBF (40.82%), UNVR (4.86%) with a return of 2.89% and a portfolio risk of 0.10%.
Literature Review : Manajemen Risiko Environmental, Social, And Governance (ESG) Dalam Bisnis Berkelanjutan Pamungkas, Agus Cahyo; Risman, Asep
Jurnal Doktor Manajemen (JDM) Vol 7, No 2 (2024): SEPTEMBER 2024
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jdm.v7i2.28308

Abstract

Memasuki era globalisasi dan keterbukaan informasi, isu-isu yang terkait lingkungan, sosial, dan tata kelola (Environmental, Social, and Governance - ESG) kini menjadi salah satu perhatian utama di berbagai sektor industri maupun pemerintahan. Perusahaan saat ini semakin menghadapi tekanan untuk melakukan manajemen risiko lingkungan, sosial, dan tata kelola perusahaan (ESG) secara efektif. Keterlibatan investor, tuntutan konsumen yang semakin sadar lingkungan, serta regulasi yang ketat semakin mendorong perusahaan untuk memperhitungkan dampak ESG dalam strategi bisnis mereka. Seiring meningkatnya kesadaran dan permintaan dari investor, banyak perusahaan sekarang menghadapi tekanan untuk mengintegrasikan kriteria ESG ke dalam strategi dan operasional mereka. Tantangan utama dalam pengelolaan risiko ESG adalah kompleksitas dan ketidakpastian yang terkait dengan dampak jangka panjang dari isu-isu ini. Dalam konteks ini, penting bagi perusahaan untuk memahami dan mengelola risiko ESG secara proaktif. Hal ini tidak hanya untuk memenuhi ekspektasi pemangku kepentingan, tetapi juga untuk memastikan keberlanjutan bisnis di masa depan. Metode yang digunakan dalam penelitian ini adalah metode literature review. Teknik di dalam menemukan artikel atau literatur dengan menggunakan pencarian pada database jurnal seperti google scholar, SSRN, research get dan website sejenis lainnya. Kata kunci dalam menemukan artikel yaitu risiko ESG dalam bisnis berkelanjutan (ESG risk in sustainable business). Hasil dari kajian literatur menemukan bahwa manajemen risiko ESG memainkan peran penting dalam memastikan bahwa perusahaan mampu mengenali, mengukur, mengelola, dan memitigasi risiko yang mencangkup dimensi lingkungan, sosial, dan tata kelola.
Peningkatan Kinerja dan Keberlanjutan Bisnis UMKM Melalui Keuangan Digital Risman, Asep; Saputra, Budi Lestijawan Eka
Jurnal Pengabdian Masyarakat Bangsa Vol. 2 No. 8 (2024): Oktober
Publisher : Amirul Bangun Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59837/jpmba.v2i8.1499

Abstract

Pengabdian Kepada Masayarakat (PKM) ini bertujuan untuk membantu UMKM memanfaatkan fasilitas keuangan digital sehingga UMKM dapat memperoleh pendanaan dan juga pemasaran  untuk meningkatkan kinerja dan keberlanjutan bisnis UMKM tersebut. Kegiatan ini menggunakan metode edukasi dengan presentasi pengetahuan tentang keuangan digital yang meliputi pengertian, jenis-jenis keuangan digital, manfaat cara penggunaan (menu-menu di suatu aplikasi e-wallet, registrasi, setor dana, penarikan dana, pembelian dan penjualan di market place yang bekerjasama dengan aplikasi keuangan digital) dan pelatihan dengan praktek di aplikasi keuangan digital. Pengukuran hasil kegiatan PKM ini dilakukan dengan menyebar kuesioner, hasilnya menunjukan 59% sangat setuju dan setuju 44% tentang kemanfaatan kegiatan PKM ini. Adapun output yang dihasilkan dari kegiatan ini adalah berupa video yang sudah diunggah di youtube, artikel yang dipublikasi di Media Massa, artikel di Jurnal dan HKI.
Pengaruh Likuiditas, Solvabilitas, Profitabilitas, dan Keputusan Investasi Terhadap Nilai Perusahaan Septyani, Ayu; Risman, Asep
Journal of Fundamental Management (JFM) Vol 4, No 2 (2024): JULI 2024
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jfm.v4i2.20036

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh likuiditas, solvabilitas, profitabilitas dan keputusan investasi terhadap nilai perusahaan pada perusahaan sub sektor periklanan, percetakan & media terhadap nilai perusahaan (Tobin’s Q) yang terdaftar di bursa efek indonesia periode 2016-2021. Teknik pengambilan sampel yang digunakan yaitu perposive sampling dan diperoleh 10 perusahaan dengan periode penelitian selama 6 tahun, sehingga diperoleh 60 data sampel. Metode analisis data dalam penelitian ini adalah analisis regresi data panel dengan menggunakan software eviews 12. Hasil penelitian menunjukkan bahwa variabel Tottal Asset Growth berpengaruh terhadap nilai perusahaan, sedangkan Current Ratio, Debt to Equity Ratio, Return on Asset secara parsial tidak berpengaruh terhadap nilai perusahaan (Tobins Q).
The Effect Enterprise Risk Management, Sustainable Banking Disclosure, Financial Inclusion on Firm’s Value Wahyuningsih, Liya; Risman, Asep
Indikator: Jurnal Ilmiah Manajemen dan Bisnis Vol 9, No 1 (2025)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/indikator.v9i1.30684

Abstract

This research aims to determine the influence of Enterprise Risk Management, Sustainable Banking Disclosure and Financial Inclusion on Firms Value. The population in this research is banking sub-sector companies listed on the Indonesia Stock Exchange for the 2019-2023 period, totaling 9 companies according to the characteristics determined by the researcher. The sample used was 45 samples, calculated based on purposive sampling technique. The data for this research is collected through secondary sources, and the analysis is conducted using panel data regression with Eviews 12 software. The results of this research show that risk management has a positive effect on firm’s value, sustainable disclosure has a negative effect on firm’s value, and financial inclusion has no effect on firm’s value.Keyword: Risk Management, Sustainable Banking Disclosure, Financial Inclusion, Firm’s Value.
PENGGUNAAN RISIKO ENVIRONMENTAL, SOCIAL, GOVERNANCE DALAM PROSES IDENTIFIKASI, PENGUKURAN, PEMANTAUAN DAN PENGENDALIAN DALAM BISNIS BERKELANJUTAN (LITERATURE REVIEW) Gustanto, Rusli; Risman, Asep
Realible Accounting Journal Vol. 4 No. 2 (2025): Realible Accounting Journal
Publisher : LPPM Universitas Ibnu Sina

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36352/raj.v4i2.973

Abstract

Abstrak Isu-isu seperti polusi, penggunaan sumber daya yang berlebihan, praktik tenaga kerja yang tidak adil, serta kurangnya transparansi dan integritas dalam pengelolaan perusahaan adalah beberapa contoh risiko ESG yang kian dipantau oleh pemangku kepentingan. Penelitian ini bertujuan untuk mengkaji peran ESG Risk Rating sebagai alat strategis dalam proses identifikasi, pengukuran, dan pengendalian risiko ESG guna meningkatkan keberlanjutan dan nilai perusahaan. Dengan menggunakan metode literature review, penelitian ini mengeksplorasi kerangka konseptual ESG Risk Rating serta efektivitasnya dalam mendukung pengambilan keputusan manajerial yang bertanggung jawab dan transparan. Temuan menunjukkan bahwa ESG Risk Rating tidak hanya berfungsi sebagai indikator risiko, tetapi juga sebagai sinyal bagi pemangku kepentingan mengenai komitmen perusahaan terhadap praktik berkelanjutan. Skor ESG yang rendah dikaitkan dengan pengelolaan risiko yang lebih baik, peningkatan reputasi, dan potensi peningkatan nilai jangka panjang di pasar modal. Kata kunci: ESG Risk Rating, Manajemen Risiko, Keberlanjutan, Tata Kelola Perusahaan