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All Journal Jurnal Ekonomi dan Bisnis Islam Journal of Research and Technology Jurnal Ekonomi & Keuangan Islam Journal of Islamic Economic Laws Shirkah: Journal of Economics and Business Dialogia: Jurnal Studi Islam dan Sosial Jurnal Bisnis dan Akuntansi Justisia Ekonomika International Journal of Zakat (IJAZ) Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam JURPIKAT (Jurnal Pengabdian Kepada Masyarakat) Ijtimā`iyya: Journal of Muslim Society Research Journal of Business and Political Economy: Biannual Review of The Indonesian Economy Review Journal of Islamic Economic Laws
Sri Yayu Ninglasari
Business Management Department, Faculty Of Creative Design And Digital Business, Institut Teknologi Sepuluh Nopember, Surabaya, Indonesia
Religion Arts Humanities Chemical Engineering, Chemistry & Bioengineering Dentistry Economics, Econometrics & Finance Education Engineering Environmental Science Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Public Health Social Sciences

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The Nexus Between Financial Inclusion and Economic Growth in The Organization of Islamic Cooperation (OIC) Countries Sulaeman, Sulaeman; Ninglasari, Sri Yayu
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 4 No. 1 (2022): Journal of Business and Political Economy
Publisher : INDEF - Institute for Development of Economics and Finance

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46851/132

Abstract

This study aims to examine the relationship between financial inclusion and economic growth in 22 OIC countries from 2005-2018 using a panel regression model, especially the REM model. There are three financial inclusion indicators as independent variables considered in this research: the financial inclusion index, the financial outreach index, and the financial usage index. We use GDP per capita as a proxy measure for economic growth. Using a random effect model (REM), our empirical results show that financial inclusion positively and significantly affects national economic growth in OIC countries. It is proven by all the proxy variables of financial inclusion, i.e., the financial inclusion index, financial outreach index, and financial usage index, positively correlate with the GDP per capita as a proxy for national economic growth. Other empirical results from control variables show that inflation is found significant to decrease OIC's economic growth. Trade also has significant effects on economic growth in OIC countries. Besides, in this study, unemployment has positively effects to increase economic growth in OIC countries. The main hypotheses in this study are accepted. Therefore, it could be concluded that financial inclusion positively contributes to increasing economic growth in Muslim countries. Furthermore, this finding will implicate the government to enhance and promote financial inclusion programs massively and provide access to financial services formally, such as insurance, saving, or credits/financing for the underprivileged community, especially for SMEs in all rural areas in OIC countries.
Good Amil Governance (GAG) and Efficiency of Zakat Institution in Indonesia Ninglasari, Sri Yayu; Mirzal, Husnul; Majid, Rifaldi; Ulya, Badriyatul; Himmawan, M. Fikri
Ijtimā iyya Journal of Muslim Society Research Vol. 8 No. 2 (2023)
Publisher : Postgraduate, State Islamic University Prof. K.H. Saifuddin Zuhri Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24090/ijtimaiyya.v8i2.7913

Abstract

This study aims to analyze the implementation of Good Amil Governance (GAG) in zakat management organizations (OPZ) and the efficiency of zakat distribution in Indonesia. This study uses a qualitative method with a literature study approach through secondary data tracing in the annual reports of zakat management organizations, journals, books and the official website of OPZ in Indonesia. The results showed that most of the OPZ had implemented the GAG principles thoroughly. In addition, the problem of inefficiency in the distribution of zakat in Indonesia has been overcome by the National Amil Zakat Agency (BAZNAS) through the issuance of the decision of the chairman of BAZNAS No. 33 of 2019 through identification of the Mustahik Identification Number (NIM). This research is expected to have implications for improving the application of governance and coordination of zakat distribution by OPZ in Indonesia.
Zakat Digitalization: Effectiveness of Zakat Management During Covid-19 Pandemic Ninglasari, Sri Yayu; Muhammad, Mumuh
Journal of Islamic Economic Laws Vol 4, No 1: January 2021
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v4i1.12442

Abstract

This study aims to analyze the role of digitalization in zakat management during the Covid-19 pandemic. Furthermore, it also aims to analyze the strengths, weaknesses, opportunities, and threats of zakat digitization in Indonesia. The method used in this research is a qualitative method with a literature study and a SWOT analysis approach. Literature shows that using digital platforms to collect, manage, and distribute zakat is very useful, especially during the Covid-19 pandemic, because it provides much convenience for its users. However, digital platforms have weaknesses and threats both for zakat institutions and for muzaki and mustahik. To overcome these threats and weaknesses, zakat institutions can make various strategies by utilizing existing strengths and opportunities. This strategy is made so that the collection and distribution of zakat funds can be appropriately optimized and have a tremendous impact on the community’s welfare, especially for the poor who are affected by Covid-19.
MARKET STRUCTURE IN ISLAMIC PERSPECTIVE: A CRITICAL EXAMINATION OF THE TERMS PERFECT AND IMPERFECT COMPETITION Ninglasari, Sri Yayu; Himmawan, M. Fikri; Rosyidi, Luthfi Nur; Asyiah, Aas Nur
Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah Vol 7 No 1 (2023): Juni 2023
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/justeko.v7i1.18132

Abstract

The purpose of this study is to examine the terms "perfect" and "imperfect" competition in the market structure from an Islamic economic perspective. This study employed a qualitative approach to library research as its methodology. The results of the literature review indicate that the structure of perfect competition has a close relationship with the Islamic market concept. This proximity is reflected in the price, which is determined according to the hadith of the Prophet Muhammad by supply and demand. In addition, it is believed that perfect market competition is a market structure that can benefit both consumers and producers. Moreover, elements of imperfect competition that can oppress consumers, such as monopolies, oligopolies, and monopolistic practices, must be avoided. In Islamic economics, however, there is no concept of competition because it is synonymous with war, fighting, and dumping, so the term "competition" in the concept of market structure is inappropriate. For this reason, a new concept is required, namely the ta'awun market, in which the market in Islamic economics should be a place and a means of mutual assistance.Keywords: Market structure, Islamic perspective, perfect competition, imperfect competition 
ANALYSIS OF VARIABLE CALCULATION ON STARTUP ASSESSMENT : CASE STUDY PT XYZ Bramanti, Geodita Woro; Gogor Arif Handiwibowo; Xaviera, Ameerah Rida; Agustin, Harisatul; Ninglasari, Sri Yayu; Negoro, Nugroho Priyo; Prihananto, Prahardika
Journal of Research and Technology Vol. 9 No. 2 (2023): JRT Volume 9 No 2 Des 2023
Publisher : 2477 - 6165

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55732/jrt.v9i2.1105

Abstract

Economic growth in Indonesia is increasing rapidly. In Indonesia, the growth of startups is increasing along with the continued development of the digital industry. The emergence of startups in Indonesia began in 2010 which was pioneered by the presence of startups Tokopedia and Blanja.com. PT. XYZ as a state-owned enterprise supports the development of startups by providing digital creative facilities, funding, and expanding market access, specifically to accelerate their industrial growth. The amount of funding that PT XYZ will provide to startups also varies according to the startup development stage and the company value (valuation) of the startup. The valuation calculation that is currently being carried out by PT. XYZ is by using the First Chicago method as the calculation method. However, in its application, there are still several calculation components that have not been standardized. The absence of standards for some of the components of this calculation can affect the size of the calculated startup valuation figures. This will have an indirect impact on startups, investors and stakeholders. Therefore, this study aims to analyze the standard setting on the three components of valuation calculations or business appraisals at startups carried out by PT. XYZ and to establish improvement evaluation standards for determining the three components of calculations in the first Chicago method. In this study, the results of the startup assessment are the dependent variable while the annual average growth rate, stock value size and discount rate are the independent variables. The sample population used in this study were startups who became alumni of PT. XYZ. The analytical method used is using linear regression.
Managerial Ability and ESG Performance: A Panel Data Analysis of Non-Financial Companies on The Indonesia Stock Exchange (2018-2021) Bramanti, Geodita Woro; Hakim, Andi; Ninglasari, Sri Yayu; Wibawa, Berto Mulia; Nareswari, Ninditya; Kunaifi, Aang; Handiwibowo, Gogor Arif
Journal of Research and Technology Vol. 10 No. 1 (2024): JRT Volume 10 No 1 Juni 2024
Publisher : 2477 - 6165

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55732/jrt.v10i1.1373

Abstract

The rising implementation of Environmental, Social, & Governance (ESG) practices by companies indicates a growing commitment to responsible operations. The surge in assets allocated to ESG-focused ETFs is evident, as global investments have grown to $391 billion by 2021, a substantial increase from a mere $5 billion in 2006. Furthermore, Indonesia has witnessed a substantial surge in the number of investors who are actively engaged with companies that comply with ESG criteria. The efficacy of implementing ESG practices is intricately linked to the proficiency and expertise of managers, particularly in their decision-making and disclosure strategies. This study employed panel data regression methods to examine data from 825 non-financial companies that were publicly traded on the Indonesia Stock Exchange between 2018 and 2021. The insights were acquired utilizing the Fixed Effect Model methodology. The results indicate that the proficiency of managers does not exert a noteworthy influence on the ESG performance of companies that prioritize short-term financial benefits and exhibit limited understanding of ESG concerns, especially in sectors other than energy. Hence, it is imperative to foster effective leadership to steer companies towards holistic and sustainable strategies that transcend immediate gains, while prioritizing enduring impact and societal responsibility.
ISLAMIC STOCK MARKET PERFORMANCE PRE-COVID-19: EMPIRICAL EVIDENCE FROM JAKARTA ISLAMIC INDEX Supriani, Indri; Herianingrum, Sri; Ninglasari, Sri Yayu; Budi, Ryan Setya
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37789

Abstract

Islamic stock market has experienced massive growth globally, including in Indonesia. This study aims to investigate the predicting factors of the Indonesian Islamic stock market that presents by the stock price of the Jakarta Islamic Index (JII). Adopted the Augmented Distributed Lag (ARDL) approach, this study uses monthly data from January 2007 to February 2020. This study uses five macroeconomic variables, namely consumer price index, exchange rate, crude oil price, world gold price, and Dow Jones Islamic Index (DJIM), to determine the JII's stock price. As a result, the JII's price volatility is significantly driven by the macroeconomic variables simultaneously. Importantly, this study reports that world gold price and DJIM return to become the most crucial factors influencing the ' 'JII's stock price volatility in short and long-run investment periods. This study has passed robustness checks by conducting three out of sample periods, namely 25%, 50%, and 75% out of sample. The 75% and 50% out of sample data revealed an identical result. Thus, this study suggests that the investor evaluates the crude oil price and world gold price fluctuation to predict the price of JII. This study offers practical implications for policymakers and practitioners and recommendations for future research.
THE MODERATING ROLE OF MANAGERIAL OVERCONFIDENCE IN THE NEXUS OF MANAGERIAL ABILITY AND FIRMS LEVERAGE Kunaifi, Aang; Ninglasari, Sri Yayu; Cempaka, Santy Dwi; Hakim, Muhammad Saiful
Jurnal Bisnis dan Akuntansi Vol. 27 No. 2 (2025): Jurnal Bisnis dan Akuntansi (in progress)
Publisher : Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34208/c5yktm43

Abstract

This study aimed to investigate the impact of managerial ability on corporate financial leverage and examine the moderating role of managerial overconfidence in Indonesian publicly listed firms. The analysis was based on 1,440 firm-year observations from 2017 to 2020 and used fixed-effects regression models with firm clustered standard errors. The results showed that higher managerial ability was positively associated with greater financial leverage. Furthermore, it was found that managerial overconfidence increased this effect, suggesting that highly capable yet overconfident managers were more inclined to increase debt levels, potentially due to greater risk tolerance. This study contributed to the corporate finance literature by showing how cognitive biases interacted with managerial competence to influence leverage decisions, an interaction largely overlooked in traditional capital structure theories. These results offered practical implications for corporate governance, emphasizing the importance of complementing evaluations of managerial ability with behavioral assessments to minimize excessive risk-taking. In the context of emerging markets, this study emphasized the need for institutional reforms that consider both managerial skills and psychological traits in executive decision-making. 
Co-Authors Aang Kunaifi Aas Nur Asyiah Agustin, Harisatul Andi Hakim Asyiah, Aas Nur Berto Mulia Wibawa Bramanti, Geodita Woro Budi, Ryan Setya Cempaka, Santy Dwi Gogor Arif Handiwibowo Hakim, Muhammad Saiful Handiwibowo, Gogor Arif Handiwibowo, Gogor Arif Himmawan, M. Fikri Husnul Mirzal Lissa Noer Luthfi Nur Rosyidi M. Fikri Himmawan M. Fikri Himmawan Majid, Rifaldi Mumuh Muhammad Nareswari, Ninditya Ni Made Gusti Rai Nugroho Priyo Negoro Prahardika Prihananto Prihananto, Prahardika Siti Zubaidah Sri Herianingrum Sulaeman Sulaeman Sulaeman Sulaeman Sulaeman Sulaeman Supriani, Indri Ulya, Badriyatul Xaviera, Ameerah Rida