Claim Missing Document
Check
Articles

Pengaruh Collection Period Variance dan Kebijakan Modal Kerja terhadap Profitabilitas Pada Perusahaan Syariah Sektor Properti dan Konstruksi di ISSI Periode 2015-2024 Dien Azzizah Azzahra Farhani; Mochamad Edman Syarief; Setiawan; Ira Novianty
Jurnal Ilmiah Ekonomi Islam Vol. 12 No. 4 (2026): Jurnal Ilmiah Ekonomi Islam
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v12i4.19883

Abstract

This study aims to examine the effect of collection period variance (CPV), working capital investment policy (WCIP), and working capital financing policy (WCFP) on return on asset (ROA) among 113 property and construction sector companies listed in the Indonesian Sharia Stock Index (ISSI) over the period 2015-2024. Secondary data in the form of annual financial statements were obtained from the official website of the Indonesia Stock Exchange (IDX) and the respective company websites. The sample consists of 113 companies selected through purposive sampling, yielding a total of 601 observations using unbalanced panel data. Data were analyzed using panel data regression, with model selection conducted through the Chow Test and Hausman Test, resulting in the Fixed Effect Model as the chosen estimation approach. The findings indicate that CPV has a significant negative effect on ROA, suggesting that a wider gap between the speed of trade payables settlement and receivables collection is associated with lower firm profitability. WCIP has a significant positive effect on ROA, indicating that adequate current asset availability supports operational continuity and enhances profitability. WCFP has a significant negative effect on ROA, suggesting that excessive reliance on current liabilities as a financing source suppresses firm profitability. These findings imply that efficient and consistent working capital management is a key determinant in maintaining and improving the profitability of Sharia-compliant firms in Indonesia’s property and construction sector.
The Influence of P2P Lending and Macroeconomic Indicators on MSME Financing Growth at Islamic Rural Banks in Indonesia Azizah Nur; Muhammad Umar Mai; Moch. Edman Syarief; Hani Kustyanti Kusnadi; Sumiyati Sumiyati
Journal of Applied Islamic Economics and Finance Vol. 6 No. 2 (2026): Journal of Applied Islamic Economics and Finance (February 2026)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/jaief.v6i2.7220

Abstract

This study investigates the influence of Peer-to-Peer (P2P) lending and macroeconomic indicators—specifically inflation and BI Rate—on the growth of MSME financing at Islamic Rural Banks (BPRS) in Indonesia from 2014 to 2023. Using monthly secondary data and applying the Error Correction Model (ECM), the analysis captures both short-term and long-term dynamics. The findings reveal that P2P lending has no significant effect in the short term but shows a negative and significant impact in the long term, indicating potential substitution for Islamic Rural Banks. Inflation and BI Rate do not significantly influence financing growth in the short term but have a positive and significant effect in the long term. Control variables such as Firm Size and Non-Performing Financing (NPF) also demonstrate long-term impacts. These results offer theoretical insights into fintech disruption and macroeconomic dynamics and provide practical recommendations for Islamic Rural Banks in strengthening their digital competitiveness and risk management strategies.
Co-Authors Aditya Dais Gumara Amailiya, Lya Ambia Masthura Yussaivi Amiliya, Lya Andzar Izzurrahman Anggraeni, Khaerunisa Suci Anhar Firdaus Anita Putri Annisa Nur Safitri Annisa Suriyati Arizal Jaya Arry Irawan Arwan Gunawan Ash Shidqi, Muhammad Irsyad Azizah Nur Banter Laksana, Banter Carol Y Lu Chanda Fawwaz Mahesa Dadang Hermawan Dadang Hermawan Dadang Hermawan Dea Apriyani Destian Arshad Destian Arshad Darulmalshah Tamara Dian Imanina Burhany Diani Nabila Putri Dien Azzizah Azzahra Farhani Diharpi Herli Setyowati Dimas Sumitra Danisworo Djuwarsa, Tjetjep Dwi Suhartanto DWI SUHARTANTO Eka Nurmala Sari Elviera Maharani Endang Hatma Juniwati Essa, Satrija Prajna Fatoni, Muhammad Iqbal Fifi Afiyanti Fira Febrina Fitri, Tia Nur Fitriah Fatimah Amatilah Ghaida Aulia Purwantika Ghifari, Muhammad Jihad Al Gymnastiar, Raihan Firdaus Hadiani, Fatmi Hanifa Khoirunnisaa Heryanto Hasbi Assidiki Hasbi Assidiki Mauluddi Hendi Rohendi Indah Kumala Sari Intan Nurrachmi Intantri Lestari Iwan Setiawan Iwan Setiawan Katsirin, Khairul Khoirun Nisa Nurul Muslimah Kristianingsih Kristianingsih Kusnadi, Hani Kustyanti Leni Nur Pratiwi Leo, Gundur Liana Oktaviani Syahrir Lily Indrawati Limayyasa, Risma Lya Amailiya Maisa Frita Winesa Marwansyah Mayasari, Ine Melani, Farida Andy Mochamad Umar Mai Mufti, Fauzan Ali Muhamad Arif Nugraha Muhammad Firdaus, Rifqi Muhammad Muflih Muhammad Syaiful Nurasman Muthia Faridatunnisa Muthia Nur Soniati Nabila Nur Khairina Naila Shafia Hamid Alfani Noorsyah Adi Noer Ridha Novianti, Ira Novianty, Ira Noviatul Fitriya Nurdin, Ade Ali Pebrianti, Gita Nuralipah Pramudia, Rizkie Anugerah Prasetyo Widodo, Annis Azizah Purbayati, Radia Putri Deliana Febrianti Radia Purbayati Rani Putri Kusuma Dewi Raya Puspita Sari Hasibuan Rezeki, Fuzi Amali Sri Riauli Susilawaty Hutapea Rizkie Anugerah Pramudia Rizqia Nur Afifah Ruhadi Ruhadi Ryhan Firdausy Noor Dermawan Sembiring, Etti Ernita Setiawan Setiawan Setiawan, S Shafira, Ranti Firdha Sudjana Sudjana Suherlan, Deiana Sumiyati SUMIYATI SUMIYATI Tiara Putie Purwitasari Tjetjep Djuwarsa Tresna Pratiwi Tripuspitorini, Fifi Afiyanti Umiafifah Syafiq Dwi Cahyaningrum Widhansetyati, Purwanti Windari Driyastutik Windi Zaenudin Wiwin Roslinda Sidebang Yayat Nurhidayat Yeti Apriliawati, Yeti Yudianto, Yuda