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The Impact of Productive Zakat on the Income Inequality of Mustahiq in Yogyakarta Darsono, Susilo Nur Aji Cokro; Raihana, Mitha; Jati, Hafsah Fajar; Pachmi, Anisya
Journal of Economics Research and Social Sciences Vol 3, No 1 (2019)
Publisher : Program Studi Ekonomi FEB UMY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.030107

Inequality in income distribution is one of the economy problems that faced by most developing countries, including Indonesia. In order to reduce the income gap, Islam proposes instruments to solve this problem, such as Zakat. This is not only an obligation for the Muslim but it also has the goal of improving the economy conditions in society. There is the movement of wealth from high income society to low income society in zakat, so the income will not be concentrated in a certain society. Zakat distribution can support the achievement one of the Sustainable Development Goals (SDGs), namely goal 10, which is to reduce inequalities. This research aims to analyze the effect of productive zakat on reducing income inequality among mustahiq or zakat recipients. A survey employing a questionnaire was applied in this research to find the data from mustahiq population in Yogyakarta City. Lorenz curve, Gini ratio index and World Bank inequality criteria were applied to analyze the inequality of income distribution. This research found that distribution of productive zakat decreased the inequality of income among mustahiq as shown by the decreasing area in the Lorenz curve. In addition, the Gini ratio also fell from 0.37 to 0.30 which shows the decrease in income inequality among mustahiq. Finally, the proportion of income in 40% low income society increased from 16.83% to 21.04%.

Household Solar Photovoltaic Adoption in the Maldives: A Socioeconomic Perspective Fathimah, Rukshana; Darsono, Susilo Nur Aji Cokro; Suphanchaimat, Nongluck
Jurnal Ekonomi & Studi Pembangunan JESP Volume 21 Nomor 2, Oktober 2020
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.21.2.5040

Energy has become an essential part of our lives, but the current energy sources we used are depleting and non-renewable. In the case of Maldives, fuel energy is expensive due to importation and high transportation cost.Â Besides, Atoll islands' characteristics require each island to have a power plant using fossil fuel, and the fuel storage availability is limited, making the electricity in these islands unstable and costly. Therefore, the need for cleaner and reliable resources for energy is essential in order to ensure a better future.Â This study aimed to determine the factors influencing solar energy acceptance by inviting people to participate in the electronic survey in the Maldives, with 119 samples collected. The result revealed that most respondents were willing to go for a solar energy source for electrification due to the current high electricity bills. A binary logistic regression analysis was performed to predict the factors for the acceptance of solar energy. The result showed that people's attitudes and current electricity bills were significantly influential in solar energy acceptance. The presumptions for policymakers are to increase the people's knowledge and awareness to elevate a positive attitude and involve the private sector to increase competition and utility in the field

AWARENESS AND KNOWLEDGE ASSESSMENT OF SUSTAINABLE DEVELOPMENT GOALS AMONG UNIVERSITY STUDENTS Jati, Hafsah Fajar; Darsono, Susilo Nur Aji Cokro; Hermawan, Dedy Tri; Yudhi, Wahdi April Salasi; Rahman, Ferry Fadzlul
Jurnal Ekonomi & Studi Pembangunan JESP Volume 20 Nomor 2, Oktober 2019
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.20.2.5022

The Sustainable Development Goals (SDGs) are built on the successes of the Millennium Development Goals (MDGs), which consists of 17 goals as a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity. The assessment of peopleâ€™s awareness and knowledge on SDGs is of paramount importance to support any subsequent actions. The awareness of SDGs is higher compared to the previous agenda MDGs only in particular emerging countries; hence, it requires better progress after more than three years of its establishment. University students, as the agent of changes, are supposed to have a higher level of awareness and knowledge rather than average. When the university students have a better awareness and higher knowledge on SDGs, they can actively contribute to support, promote, and achieve the development goals by making use of their academic background. The objective of this research is to assess the level of awareness and knowledge on Sustainable Development Goals (SDGs) among university students in Universitas Muhammadiyah Yogyakarta, Indonesia. Data for this research are collected by field Survey and Questionnaire. This research analyzes data by using descriptive statistics and Chi-Square. The results show 89.5% of students are aware and 62.5% of students have high knowledge about SDGs. We found that studentsâ€™ knowledge is only affected by the accessibility of information and studentsâ€™ awareness is related to not only accessibility of information but also gender. Both awareness and knowledge are not affected by studentsâ€™ participation in the organization.

The Impact of Productive Zakat on the Income Inequality of Mustahiq in Yogyakarta Darsono, Susilo Nur Aji Cokro; Raihana, Mitha; Jati, Hafsah Fajar; Pachmi, Anisya
Journal of Economics Research and Social Sciences Vol 3, No 1: February 2019
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.030107

Inequality in income distribution is one of the economy problems that faced by most developing countries, including Indonesia. In order to reduce the income gap, Islam proposes instruments to solve this problem, such as Zakat. This is not only an obligation for the Muslim but it also has the goal of improving the economy conditions in society. There is the movement of wealth from high income society to low income society in zakat, so the income will not be concentrated in a certain society. Zakat distribution can support the achievement one of the Sustainable Development Goals (SDGs), namely goal 10, which is to reduce inequalities. This research aims to analyze the effect of productive zakat on reducing income inequality among mustahiq or zakat recipients. A survey employing a questionnaire was applied in this research to find the data from mustahiq population in Yogyakarta City. Lorenz curve, Gini ratio index and World Bank inequality criteria were applied to analyze the inequality of income distribution. This research found that distribution of productive zakat decreased the inequality of income among mustahiq as shown by the decreasing area in the Lorenz curve. In addition, the Gini ratio also fell from 0.37 to 0.30 which shows the decrease in income inequality among mustahiq. Finally, the proportion of income in 40% low income society increased from 16.83% to 21.04%.

Income Diversification and Financial Performance: The Mediating Effect of Banks’ Size, Ownership Structure, and the Financial Crisis in Vietnam Phan Gia Quyen; Nguyen Tran Thai Ha; Susilo Nur Aji Cokro Darsono; Tran Dang Thanh Minh
Journal of Accounting and Investment Vol 22, No 2: May 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study focuses on the correlation between income diversification and financial performance, taking into account banks’ size, type of ownership, and the financial crisis.Design/Methodology/Approach: This study uses financial data of 29 commercial banks in Vietnam during the period from 2005 to 2018. This research employs a Generalized Method of Moments (GMM) regression.Research findings: The results do not find statistical evidence of a direct effect of banks’ income diversification on their financial performance. However, when considering the classification factors, such as the bank’s size and ownership type, the findings show that big banks and state-owned banks could take advantage of diversification strategies to boost their profitability. Moreover, the study has proven that income diversification generates a significant positive effect on banks’ financial performance during the crisis time.Theoretical contribution/Originality: This study provides a theoretical evidence on the direct effect of income diversification on a bank’s financial performance concerning banks’ size, ownership type, and the financial crisis.Practitioner/Policy implication: Further, this research also offers the bank’s managers, policymakers, and investors an insight of good banks’ financial performance in the context of an unstable economy.Research limitation/Implication: The limitations still exist in this research, such as (1) the number of banks participating in the research sample was a predictable limitation; (2) this research mainly focused on financial variables but ignored the variables representing the managers’ behavior and the banks’ organizational structure; (3) the future studies can focus on these aspects to explore further the hidden picture of diversification strategy and banking performance

Cultural Dimensions and Sustainable Stock Exchanges Returns in the Asian Region Susilo Nur Aji Cokro Darsono; Wing-Keung Wong; Nguyen Tran Thai Ha; Hafsah Fajar Jati; Diah Setyawati Dewanti
Journal of Accounting and Investment Vol 22, No 1: January 2021
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: The aim of this paper is to examine the effect of four cultural dimensions such as power distance index (PDI), individualism (IDV), uncertainty avoidance index (UAI), and long-term orientation (LTO) on the sustainable investment return in Asian sustainable stock exchanges.Design/Methodology/Approach: Quantitative research method was applied for this research. Monthly sustainable stock indices from seven Asian countries for the period 2015-2019 were considered. This research employed the Ordinary Least Square (OLS) regression and Feasible Generalized Least Square (FGLS) regression with id and time fixed effect.Research findings: The outcomes of our empirical investigation underlined the fact that: (i) an increase in power distance (PDI) would increase the market returns in the Asian region; (ii) individualism (IDV) had a positive and significant impact on the market returns, and the increase of individualism in the Asian countries would lead to the higher sustainable stock returns; (iii) increase in the uncertainty of avoidance (UAI) by investors in the Asian region would lead to the higher stock returns; (iv) the long term orientation (LTO) had a significant and positive impact on market returns. It showed that if the investor had a long-term orientation on the sustainable stock exchange in the Asian region, it would lead to increased stock returns.Theoretical contribution/Originality: This research's theoretical contribution is to present the causal relations of cultural differences on the sustainable investment return in the Asian region.Practitioner/Policy implication: This research’s implication is to increase the concern of individual investors, portfolio managers, and investment companies regarding the cultural dimension effect on sustainable investment.Research limitation/Implication: The limitations still exist in this research, such as: (1) limited data for sustainable stock indices in the Asian region; (2) this research mainly focused on four cultural dimensions instead of six dimensions in Hofstede's model; (3) the future research should include the control variables and some other financial variables related with the sustainable investment.

The Impacts of Tax Revenue and Investment on the Economic Growth in Southeast Asian Countries Hoa Thi Nguyen; Susilo Nur Aji Cokro Darsono
Journal of Accounting and Investment Vol 23, No 1: January 2022
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Research aims: This study focuses on the correlation between tax revenue, investment, and economic growth, taking into account the non-linear effects of tax revenue.Design/Methodology/Approach: Macro data of nine countries in ASEAN (including Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam) in 2000 - 2020 were extracted from the World Bank database. This research employed panel data estimations.Research findings: This study found statistical evidence of a negative effect of tax revenue on economic growth. However, when considering the non-linear effects of tax revenue, the empirical findings showed that higher tax revenue could reduce the disadvantages of tax impacts to boost economic growth. The negative effect of taxes is as obvious as the economic growth theories, but it depends on the taxation revenue. Lower tax revenue may encourage saving and investment, but it also leads to an increased government deficit, reducing economic growth through government debt, spending and investment. Moreover, this study provides consistent evidence of investment’s positive effect on economic growth in ASEAN countries during the research period.Theoretical contribution/Originality: The theoretical contribution provides evidence on the direct effect of tax revenue and investment on economic growth with a broader understanding of the tax’s non-linear effects and investment contributions in the ASEAN. The study confirms the vital role of government activity in regulating the development of the economy through taxation and investment. Practitioner/Policy implication: The severe impact of the COVID-19 pandemic has increased macroeconomic uncertainties, including uncertainty over savings, investment, and spending, potentially leading to tax revenue and investment losses. It, in turn, affects economic activities, so it requires careful consideration. Learned lessons from this study can prepare for future economic shocks and financial crises to reduce negative impacts on economic growth, including their adverse tax revenue effects.Research limitation: This study is limited by looking at the tax revenue ratio overview, which ignores the tax structure due to the lack of data collection. The following studies need to clarify the tax structure of ASEAN countries to determine which tax gives a negative impact/and which tax has a positive effect on economic growth.

Sociodemographic Effects on Financial Inclusion: Implications from Online Transaction in Developing-8 Countries Wardani, Dyah Titis Kusuma; Khusniati, Navi'ah; Darsono, Susilo Nur Aji Cokro
Economics and Finance in Indonesia Vol. 69, No. 1
Publisher : UI Scholars Hub

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

The world has reached the industry 4.0, where technological developments have been widely applied to electronic payment, with no exception on Muslim countries. This study aims to investigate association between sociodemographic and financial inclusion in country D-8 in the probability of using online financial transactions. Using The Global Findex 2017 from D-8 Organization for Economic Cooperation included in OIC countries and the logistic regression, this study explores the effect of sociodemographic namely gender, education, income status and working status on online financial transactions users. Using control variables such as Gross Domestic Product (GDP), Inflation and Exchange reta, results show that, there is a gender imbalance between men and women in using online transaction to access formal services. On the other hand, individuals who have higher level of education, upper-middle income and high-income, and those who work are more financially inclusive in using online transaction. In conclusion, those with higher sociodemographic status are more likely to use online transaction to access formal financial services. The government and third parties can use this study as policy recommendations for expanding online transaction as well as financial inclusion in developing Muslim countries.

Peran Transformasi Digital Terhadap Kepuasan Nasabah Green Banking Mareta, Sukma Nur; Wardani, Dyah Titis Kusuma; Hanim, Anggia Latifah; Rahmawati, Dea Cici; Puspitasari, Nanda Putri; Darsono, Susilo Nur Aji Cokro
Journal of Waqf and Islamic Economic Philanthropy Vol. 1 No. 3 (2024): May
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/wiep.v1i3.273

Penelitian ini dibuat untuk menganalisis secara menyeluruh dampak penyediaan layanan perbankan digital, transformasi digital dalam sustainable banking, dan eningkatan efisiensi dan kecepatan melalui transformasi digital terhadap kepuasan nasabah Perbankan. Penelitian ni menggunakan data primer yang didapat melalui observasi dari para nasabah bank dan data sekunder . Dianalisis menggunakan penerapan model Regresi Berganda yang disesuaikan. Hasil analisis menunjukkan bahwa transformasi digital memainkan peran penting dalam meningkatkan kepuasan pelanggan di perbankan hijau. Layanan digital yang mudah diakses secara signifikan meningkatkan kepuasan pelanggan, sementara dampak yang lebih luas dari transformasi digital terhadap perbankan berkelanjutan dan efisiensi masih memerlukan penelitian lebih lanjut. Penelitian di masa depan harus fokus pada sektor perbankan yang lebih spesifik dan menggunakan metode analisis data yang lebih kuat untuk memberikan wawasan yang lebih mendalam.

The impact of gross domestic product, exchange rates and ACFTA implementation on Indonesia’s trade intensity index Wardani, Dyah Titis Kusuma; Huda, Adinda Salshabilla Zhauza; Darsono, Susilo Nur Aji Cokro; Duasa, Jarita
Jurnal Ekonomi & Studi Pembangunan Vol 25, No 1: April 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v25i1.22191

The ASEAN-China Free Trade Area (ACFTA) represents a critical agreement between ASEAN member countries and China, aimed at fostering economic integration by eliminating or reducing trade barriers, enhancing service market access, refining investment regulations, and bolstering economic cooperation. This framework is designed to strengthen economic ties and enhance welfare across the involved nations. This study evaluates the impact of the ACFTA on trade dynamics by analyzing the Trade Intensity Index (TII), GDP, exchange rates, and a dummy variable representing the ACFTA's implementation. Utilizing annual data from 2001 to 2021, sourced from the UN-Comtrade Database and the World Bank, the research employs the Ordinary Least Squares (OLS) method to provide insights into the trade relationships under the ACFTA framework. The findings indicate a divergent impact, while Indonesia experiences a negative and significant influence from GDP, exchange rates, and ACFTA implementation, the ASEAN-6 countries display a positive and significant effect. Moreover, the study reveals that Indonesia's Trade Intensity Index with other ACFTA members is comparatively lower than Malaysia’s. This suggests a need for targeted trade policies in Indonesia aimed at amplifying export volumes in sectors where it holds a comparative advantage. Such strategies could significantly enhance Indonesia's trade intensity within the ACFTA, fostering greater economic integration and benefits under this expansive regional trade agreement.

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