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All Journal Jurnal Ilmiah Manajemen dan Bisnis (JIMB) Journal of Humanities and Social Studies
R, Abdul Azis
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Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Social Sciences Other

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Moderation of Dow Jones Industrial Average in the Dynamics of Indonesian Sharia Stock Index: Global Sharia Index and Macroeconomic Review R, Abdul Azis
Jurnal Ilmiah Manajemen dan Bisnis Vol 11, No 1 (2025): Jurnal Ilmiah Manajemen dan Bisnis
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jimb.v11i1.32007

Abstract

This research seeks to examine the impact of the Global Islamic Stock Index (Dow Jones Islamic Market US) and macroeconomic factors (Inflation, BI Rate, Exchange Rate, and Money Supply) on the Indonesian Sharia Stock Index, with the Dow Jones Industrial Average (DJIA) acting as a moderating variable. Employing a quantitative methodology, the study incorporates descriptive analysis and hypothesis testing using the SmartPLS application to assess estimation outcomes. Secondary data from 2014 to 2023, including monthly Inflation, BI Rate, Exchange Rate, and Money Supply figures, taken from the official website of Bank Indonesia. Data for ISSI, DJIMUS, and DJIA were obtained from monthly closing prices on www.finance.yahoo.com. Findings reveal that DJIMUS exerts a significant negative influence on ISSI, while DJIA does not significantly moderate this relationship. Inflation and the BI Rate show no significant effects on ISSI; however, DJIA significantly moderates the BI Rate's influence on ISSI. The Exchange Rate has a significant negative impact on ISSI, whereas the Money Supply demonstrates a significant positive effect, though DJIA does not moderate its influence. The study focuses on monthly data from 2014 to 2023, limiting its reflection of daily or weekly stock market fluctuations. This research offers insights for academics and practitioners in Islamic finance and macroeconomics by exploring the interplay between global Islamic stock indices, macroeconomic indicators, and domestic Islamic stock indices, with consideration of global stock market moderation
Digital Transformation, Capital Structure, And Liquidity: Implications For Return On Assets (ROA) Andriani, Nini; Utami, Ayu Putri; Farid, Erwan Sastrawan; Samudra, Suryadi; R, Abdul Azis
JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) Vol 9, No 1 (2025): Journal of Humanities and Social Studies
Publisher : UNIVERSITAS PAKUAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33751/jhss.v9i1.12036

Abstract

This study aims to empirically analyze the implications of digital transformation, capital structure, and liquidity on corporate financial performance. Digitalization in this study is measured through the proportion of intangible assets in the form of software, capital structure is measured through Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER), liquidity is represented by current ratio and quick ratio, while financial performance is represented by Return on Assets (ROA) ratio. The research method used is quantitative research with the help of SPSS 25 statistical software. The population is technology sector companies listed on the IDX with a total of 47 companies. The sample amounted to 17 companies, with the sampling method being purposive sampling. Data is taken from the company's financial statements for 2020-2024. The results showed that simultaneously, the variables   digital transformation, DAR, DER, current ratio, and quick ratio had a significant effect on ROA. Partially, digital transformation and quick ratio have a significant positive effect on ROA, while DAR, DER, and current ratio show a significant negative effect on ROA.
Asean Sharia Stocks Amidst The Fed's Policy Dynamics R, Abdul Azis; Andriani, Nini; Utami, Ayu Putri
Jurnal Ilmiah Manajemen dan Bisnis Vol 11, No 3 (2025): Jurnal Ilmiah Manajemen dan Bisnis
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jimb.v11i3.33748

Abstract

Studi ini menganalisis volatilitas imbal hasil saham Islam di empat negara ASEAN (Indonesia, Malaysia, Thailand, dan Singapura) dalam kaitannya dengan kebijakan suku bunga The Fed. Memanfaatkan data bulanan yang dikumpulkan dari Januari 2014 – Desember 2023 dengan menerapkan model GARCH (Generalized Autoregressive Conditional Heteroskedasticity) dan derivatifnya. Hasil analisis menunjukkan bahwa perubahan suku bunga The Fed tidak signifikan terhadap imbal hasil saham Islam di keempat negara tersebut. Namun, volatilitas imbal hasil dipengaruhi secara signifikan oleh faktor-faktor lain, seperti varians lag dan perubahan residual dari periode sebelumnya, yang menunjukkan persistensi volatilitas. Hasil ini menunjukkan bahwa pasar saham Islam ASEAN memiliki karakteristik unik yang relatif tahan terhadap kebijakan suku bunga global, meskipun masih dipengaruhi oleh dinamika pasar domestik dan faktor historis. Studi ini berkontribusi untuk memberikan wawasan bagi para pembuat kebijakan dan investor mengenai pengelolaan volatilitas di pasar saham Islam. Pengembangan lebih lanjut dapat mencakup analisis di negara lain dan memperluas variabel ekonomi makro untuk memberikan gambaran yang lebih komprehensif.
Co-Authors Erwan Sastrawan Nini Andriani Utami, Ayu Putri