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All Journal Journal of Economics, Business, & Accountancy Ventura Jurnal EMT KITA JBMP (Jurnal Bisnis, Manajemen dan Perbankan) Technomedia Journal Iqtishoduna: Jurnal Ekonomi Islam Dinasti International Journal of Management Science International Journal of Economics Development Research (IJEDR) JOURNAL OF BUSINESS AND ECONOMICS RESEARCH (JBE) Jurnal Bisnis Mahasiswa AKADEMIK: Jurnal Mahasiswa Ekonomi & Bisnis Jurnal Pengabdian Teratai Annals of Human Resource Management Research Journal of Accounting and Finance Management (JAFM) Mamangan Social Science Journal Jurnal Indonesia Sosial Sains Journal Research of Social Science, Economics, and Management Eduvest - Journal of Universal Studies Innovative: Journal Of Social Science Research Research Horizon
Albart, Nicko
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Aerospace Engineering Arts Humanities Astronomy Biochemistry, Genetics & Molecular Biology Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Energy Environmental Science Health Professions Immunology & microbiology Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Neuroscience Physics Public Health Social Sciences Other

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Review of Factors Affecting Purchasing Power and Investment in Property: A Comparative Study between Indonesia and Neighboring Countries Kusumastuti, Endah; Kusmalinda, Thania; Nugraha, Yudistira; Albart, Nicko
Jurnal Indonesia Sosial Sains Vol. 5 No. 11 (2024): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v5i11.1506

Abstract

The disparity in purchasing power and investment in the property sector between Indonesia and neighboring countries has attracted attention in recent years. Various aspects, both macroeconomics and socio-demographics, play a role in creating the dynamics of the property market in each country. This research explores how these factors - including inflation, interest rates, national incomes, and public policies - contribute to purchasing power parity and investment patterns in property. Through the systematic literature review (SLR) approach with 12 articles reviewed. The findings show that Indonesia faces challenges of limited access to credit, unbalanced income growth, while neighboring countries such as Singapore and Malaysia followed by Thailand and Vietnam are able to encourage stronger investment with more stable and investment-friendly economic policies. Hence, the results of this study suggest that Indonesia should adopt some best practices from neighboring countries to increase purchasing power parity and investment in the property sector in a sustainable manner.
A Systematic Literature Review: Business Feasibility Analysis Using Net Present Value (NPV) and Internal Rate of Return (IRR) Methods in the Automotive Industry Pranoto, Adi; Hermawan, Hery; Albart, Nicko
Jurnal Indonesia Sosial Sains Vol. 6 No. 1 (2025): Jurnal Indonesia Sosial Sains
Publisher : CV. Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jiss.v6i1.1577

Abstract

This research evaluates business feasibility in the manufacturing sector using the Net Present Value (NPV) and Internal Rate of Return (IRR) methods. Both of these methods are financial analysis tools that play an important role in making investment decisions, especially in projects that require large capital investments and face market uncertainty. The NPV method assesses the potential profit of a project based on the time value of money, while the IRR identifies the minimum rate of return required for the investment to be viable. This study uses the Systematic Literature Review (SLR) approach to compile and analyze various studies that discuss the application of NPV and IRR in the manufacturing industry. By comprehensively understanding the application of these two methods, it is hoped that manufacturing companies can conduct more accurate investment assessments and maximize the sustainability of business projects.
Investment Analysis of ITMG and PTBA Stocks in 2024 Using the Modern Portfolio Theory Approach Rasdanu, Rasdanu; Hidayat, Rachmad Arif; Albart, Nicko
Eduvest - Journal of Universal Studies Vol. 5 No. 11 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i11.51635

Abstract

This study aims to analyze the investment efficiency of ITMG and PTBA shares during 2024 using the Modern Portfolio Theory (MPT) approach. The Efficient Frontier and Capital Allocation Line (CAL) methods are applied to identify optimal portfolio combinations that maximize returns and minimize risk. Secondary data, in the form of daily closing prices of shares, were collected from the Indonesia Stock Exchange and Investing.com. The results of the analysis show that ITMG shares have a higher average daily return than PTBA, but with lower volatility. The low correlation between the two stocks creates effective diversification opportunities. Portfolio simulations form an Efficient Frontier that depicts various combinations of returns and risks, while the Capital Allocation Line shows the linear relationship between risk-free rates and optimal portfolios. The optimal portfolio achieves a combination of a 0.03% return with a risk of 1.91%, while the use of leverage can increase the expected return to 0.04% with a risk of 3.82%. This research emphasizes the importance of managing a combination of assets in one sector to improve investment efficiency. These findings are expected to serve as a strategic guide for investors in optimizing their portfolios of coal mining sector stocks amid the dynamics of the Indonesian capital market.
Revisiting Tax Avoidance in Global Islamic Commercial Banks: The Critical Role of Profitability, Capital Structure, and Firm Size within a Sharia-Based Governance Framework Purnomo, Hadi; Albart, Nicko; Karim, Kurniati; Mulatsih, Listiana Sri; Alfiana
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 14 No. 2 (2025): October
Publisher : Program Studi Ekonomi Islam Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v14i2.2981

Abstract

Tax avoidance remains a persistent concern in the global banking industry, including Islamic commercial banks, where financial decision-making is expected to align with Shariah-based governance principles. This study revisits the determinants of tax avoidance in Islamic commercial banks by critically examining the roles of profitability, capital structure, and firm size within a Shariah-compliant institutional context. Employing a quantitative research design, this study analyzes panel data from nine Islamic commercial banks that consistently published quarterly financial reports from 2018 to 2022. The empirical analysis is conducted using panel regression techniques in EViews 10, supported by classical assumption tests, model feasibility tests, and coefficient-of-determination analysis. The findings reveal that profitability and capital structure significantly Influence tax avoidance behavior in Islamic commercial banks, while firm size does not exhibit a statistically significant effect. These results suggest that internal financial performance and leverage decisions play a more decisive role than organizational scale in shaping tax-related behavior, even within Shariah-oriented institutions. The novelty of this study lies in its integration of conventional financial determinants with a Shariah-based governance perspective, offering critical insights into how Islamic banks navigate the tension between profit optimization and ethical tax compliance. The findings contribute to the global Islamic economics literature by providing policy-relevant implications for strengthening governance mechanisms and enhancing fiscal responsibility in Islamic financial institutions.
Co-Authors Adi Pranoto, Adi Alfiana Asrul Bastian Yunas Bonar Marulitua Sinaga Endah Kusumastuti Entis Sutisna Gita Purnama, Diki Hadi Purnomo Hadi Purnomo Hermawan, Hery Herru Herru, Herru Hidayat, Rachmad Arif Huda, Pratiwi Nur Kurniati Karim Kusmalinda, Thania Kusumayasa, Ghaluh LISTIANA SRI MULATSIH Listiorini, Dewi Lusiana Syawalina Hidayat Mahendra Djuanda, Diaz Ramadhani Mardhiah, Sofiatul Maryana, Nia Nazri, Ariadi Nirarta, IGN Agung Novianti, Diah Ayuning Nugraha, Yudistira Nunsyah, Wa Ode Febry Nur Aisyah Nurul Huda Pamungkas, Bagus Perdana Wahyu Santosa Prabangkoro, Resi Pradigdo, Argha Cahyo Priyambada, Bagus Bimma Rasdanu, Rasdanu Rumanto, Yuliadi Sari, Zika Puspita Setyo Wardhana, Tri Trias Andati Ulfa Maslahah Yuliani, Poppy