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Comparison of Stock Performance Based on Ethical Investment: Evidance on JII and SRI-KEHATI Indices Jeihan Ali Azhar; Resti Wulandari
EkBis: Jurnal Ekonomi dan Bisnis Vol 4, No 2 (2020): EkBis: Jurnal Ekonomi dan Bisnis
Publisher : Fakultas Ekonomi dan Bisnis Islam, UIN Sunan Kalijaga Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/EkBis.2020.4.2.1249

Abstract

This research aims to analyze and compare the performance of the Islamic stock portfolio represented by the JII index and ethical investment represented by the SRI-KE-HATI index by measuring the Risk Adjustment Return Index through the Sharpe index, Treynor index, and Jensen Index  differential return and appraisal ratio. The data analysis of this research consists of five parts, namely descriptive analysis, analysis of stock performance, with three methods, namely Sharpe, Treynor, and Jensen.differential return and appraisal ratio and Multiple Comparison Test. Based on the comparison of the performance of JII and SRI-KEHATI stocks in 2014-2019, it can be concluded that the overall method of Sharpe, Treynor and differential return shows a negative performance value, which means that the performance is not good, whereas when measured using the Jensen method and Appraisal Return shows positive performance value, which means good performance. When compared between the performance of JII and SRI-KEHATI shares, there is a difference between the performance of the JII and SRI-KEHATI Indices during the study period
DETERMINAN PENGHASILAN ASLI PROVINSI JAWA BARAT sandi mulyadi; Jeihan Ali Azhar
ISTISMAR Vol. 5 No. 2 (2022): Desember
Publisher : LPPM Universitas KH. A. Wahab Hasbullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32764/istismar.v5i02.3064

Abstract

Abstrak: Pembangunan nasional tidak bisa lepas dari peranan pemerintah daerah dalam memanfaatkan sumberdaya yang tersedia. Penelitian ini bertujuan untuk menganalisis pengaruh variabel PDRB, Jumlah Pengeluaran pemerintah dan Jumlah Penduduk Terhadap PAD. Data yang digunakan dalam penelitian ini adalah data sekunder periode 2014-2020. Metode analisisnya menggunakan analisis regresi data panel. Hasil penelitian menunjukkan bahwa model yang terbaik yang digunakan yaitu fixed effect model dengan hasil yang sudah dilakukan bahwa hanya variabel PDRB yang berpengaruh terhadap PAD sedangkan jumlah pengeluaran pemerintah dan jumlah penduduk tidak berpengaruh terhadap PAD. Kata kunci: PDRB, Jumlah Pengeluaran Pemerintah, Jumlah Penduduk, PAD.     Abstract: National development cannot be separated from the role of local governments in utilizing available resources. This study aims to analyze the effect of the variables of GRDP, Total Government Expenditure, and Total Population on PAD. The data used in this study is secondary data for the period 2014-2020. The analysis method uses panel data regression analysis. The results show that the best model used is the fixed effect model with the results that have been carried out that only the GRDP variable affects PAD while the amount of government expenditure and the population does not affect PAD. Keywords: GRDP; Total Government Expenditure; Total Population; PAD
Perbandingan Pembentukan Portofolio Optimal Model Indeks Tunggal Menggunakan Return Aset Bebas Risiko Sukuk dan Sertifikat Bank Indonesia Syariah (SBIS) Sri Istiyarti Uswatun; Jeihan Ali Azhar
Kaunia: Integration and Interconnection Islam and Science Journal Vol. 18 No. 2 (2022)
Publisher : Fakultas Sains dan Teknologi UIN Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/kaunia.3779

Abstract

Portofolio optimal merupakan portofolio dengan kombinasi antara keuntungan yang diharapkan dan risiko terbaik sesuai dengan preferensi investor. Terdapat beberapa model yang digunakan dalam pembentukan portofolio optimal, salah satunya adalah model Indeks Tunggal. Model indeks tunggal didasarkan pada pengamatan bahwa harga dari suatu sekuritas berfluktuasi searah dengan harga pasar. Model indeks tunggal menghitung optimasi perbandingan antara keuntungan yang diharapkan dan risiko portofolio, yang dilambangkan dengan θ . Variabel input yang digunakan untuk membentuk portofolio optimal dengan Model Indeks Tunggal adalah return saham, return pasar dan return aset bebas risiko. Pada penelitian ini akan dibandingkan return aset bebas risiko (risk free rate) menggunakan data dari sukuk dan Sertifikat Bank Indonesia Syariah (SBIS). Hasil portofolio optimal dengan return aset bebas risiko menggunakan data sukuk memberikan keuntungan sebesar 0.0188 setiap minggu dan risiko sebesar 0.0729 setiap minggu. Sedangkanhasil portofolio optimal dengan return aset bebas risiko menggunakan data dari Sertifikat Bank Indonesia Syariah (SBIS) mengahsilkan keuntungan sebesar 0.018561 setiap minggu dan risiko sebesar 0.072293 setiap minggu. Dengan menggunakan ukuran kinerja portofolio optimal indeks sharpe maka portofolio optimal yang terbaik menggunakan return aset bebas risiko Sertifikat Bank Indonesia Syariah (SBIS).
Pengaruh Pengetahuan dan Sikap terhadap Praktik Investasi Mahasiswa di Pasar Modal Syariah: Pendekatan Teori KAP Jeihan Ali Azhar; Fajar Sodik; Alifia Nur Zaida; Khusnul Zulmiati
Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah Vol 8 No 2 (2023)
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/jms.v8i2.17777

Abstract

This study aims to analyze the influence of students' knowledge and attitudes towards investment practices in the Islamic capital market. The model in this study adopts concepts from KAP theory (Knowledge, Attitude, and Practice). This research is a type of research using a quantitative approach. Data collection was carried out by distributing questionnaires to respondents using purposive sampling technique. Respondents in this study were students studying in the province of D.I. Yogyakarta. The data analysis technique was carried out using the SEM-PLS technique through the Warp PLS 6.0 analysis tool. The results of the SEM analysis show that knowledge and attitudes have a significant influence on student practice in relation to investment in the Islamic capital market. The implications of this research are expected to be input for practitioners who are active in the Islamic capital market industrial sector to be able to provide more attractive investment products. Thus, this research can be a means to encourage people, including the millennial generation, to start investing as early as possible as a form of financial planning in the future
Dampak Sosial Anak Pekerja Migran yang Tidak Dikehendaki Kelahirannya (Studi di Rumah Moch. Kholily Jember Jawa Timur) Siti Noor Aini; Jeihan Ali Azhar
Jurnal Ilmiah Citra Ilmu : Kajian Kebudayaan dan Keislaman Vol 15 No 30 (2019)
Publisher : Institut Islam Nahdlatul Ulama Temanggung

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (210.406 KB)

Abstract

This study examines the social impacts of unwanted births by migrant workers at Moch. Kholily’s house in Jember, East Java. Plenty of unwanted birth rights violations cases by migrant workers raise a number of children’s basic rights issues, including the bad stigma of the children from the community, such as negative labels towards them as “anak oleh-oleh TKI”, “anak unta” and other abusive calls. The issue of negative social impacts even comes from their own extended family in the form of rejection of their presence to be a family member. Certainly, it violates the children’s rights, which is clearly opposing the Law of Indonesia Number 18 of 2017 on Protection of Indonesian Migrant Workers and their families. For this reason, this study is pivotal to be carried out through the sociological and phenomenological approach to explore any negative social impacts experienced by unwanted births children among the migrant workers at Moch. Kholily’s house Jember, East Java. The result of this study demonstrates that there are three categories of unwanted births. First is the unplanned births among migrant worker candidates prior to their placement in the destination country. Second is the unwanted births due to pregnancy through non-marital sexual intercourse among migrant workers. The third is the unwanted births due to sexual violence. While the social impacts on victims have been identified as follows: (1) issues of civil rights and freedom; (2) issues of familial rights and alternative care; (3) problems of child healthcare and basic welfare; (4) problems of education and family time for children.
RESILIENSI EKONOMI PESANTREN MELALUI HOLDING BISNIS HEBITREN: APLIKASI ASSET BASED COMMUNITY DEVELOPMENT Ali, Jeihan Azhar; Tri Pambekti, Galuh; Baroroh, Hilmy; Hassany, Egha Ezhar Junaeka Putra; Insani Saibil, Defi
DEVOSI Vol 5 No 2 (2024): Devosi: Jurnal Pengabdian Masyarakat
Publisher : LPPM Universitas Islam 45 Bekasi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33558/devosi.v5i2.9416

Abstract

Pesantren is a religious institution that is one of the drivers in the fields of populist economy, MSMEs, and sharia economy, which has potential, especially in the midst of the COVID-19 pandemic. The economic resilience of pesantren is very crucial in the ongoing ecosystem of the pesantren economy. The development of pesantren in responding to the economy has motivated Bank Indonesia to form the Pesantren Economics and Business Association (HEBITREN), especially the Yogyakarta regional office in 2021. The formation of HEBITREN requires contributions from other institutions, especially educational institutions in transforming business model ideas and ideas for business holding between pesantren. The benefits of this service for pesantren administrators are the receipt of input or transfer of knowledge related to the preparation of the Hebitren business model, business planning and RAPB, preparation of standard operating procedures, financial reports, organizational structure and job descriptions, mapping prospective Hebitren managers, and the core business to be run. The study center for the empowerment and economic development of pesantren, UIN Sunan Kalijaga, was present as a companion to HEBITREN in realizing the economic resilience of pesantren through the HEBITREN business holding by applying Asset Based Community Development. The output of this agenda is in the form of a Hebitren business model, business planning and RAPB, preparation of standard operating procedures, financial reports, organizational structure and job descriptions, mapping of prospective Hebitren managers, and the core business to be run.
Intention To Purchase Halal Medicine: The Mediation Effect of Halal Certificates Alfajriyani, Siti; Ashari, Nesha Rizky; Amalikhah, Novita Ayu; Azhar, Jeihan Ali
AL-FALAH : Journal of Islamic Economics Vol. 9 No. 1 (2024)
Publisher : Institut Agama Islam Negeri (IAIN) Curup

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29240/alfalah.v9i1.9240

Abstract

Purpose: This research aim for now intention generation Z in inner DKI Jakarta buy halal medicines with use theory action planning (TPB) through attitudes, norms subjective and control perceived behavior, with halal certificate as variable mediation.Design/Method/Approach: This research use approach quantitative with primary data. Data collection techniques use questionnaires / questionnaires distributed online via Google from, and data analysis using SEM.Findings: Research result This show that attitudes, norms subjective and control behavior influential positive and significant to intention buy halal medicines. However, attitudes, norms subjective and controlled perceived behavior No influential in a way positive and significant to intention buy halal medicines with halal certificate as variable mediation. Apart from that, there is no halal certificate either influential to intention buy halal medicines. So that whether there is or not halal certificate in A drug No will influence intention somebody in buy halal medicines.Originality/Values: Contribution in study This is for see is intention buy halal medicines with halal certificate as variable mediation can influence intention generation Z in inner DKI Jakarta buy halal medicines
Examining The Determinants of Halal Food Preferences in Gen Z: The Moderating Role of Motivation on Lifestyles and Purchasing Decisions Prasasti, Riska; Ashwat, Natasya Ul; Gunawan, Syahrul; Azhar, Jeihan Ali
Likuid Jurnal Ekonomi Industri Halal Vol 4, No 2 (2024): LIKUID: Jurnal Ekonomi Industri Halal
Publisher : Sharia Economics Study Program Faculty of Islamic Economics and Business UIN Sunan Gunun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/likuid.v4i2.36853

Abstract

This research aims to develop the Theory of Planned Behavior (TPB) by adding halal brands as an internal variable and investigating the influence of halal brands and technology as independent variables using the Theory of Planned Behavior (TPB) to make judgments about lifestyle and the purchase of halal food. The moderating effect of motivation on the link between attitudes, subjective norms, perceived behavioral control (PBC), lifestyle, and decisions to buy halal food is also investigated in this study. This research utilized a Gen Z sample, comprising 313 respondents. This study processes the data using the Smart PLS 3 program and a quantitative methodology with a Structural Equation Modeling (SEM) model. A Google Form was utilized to facilitate online data collecting, and it was shared through social media. The findings of the study indicate that opinions are significantly influenced by halal brands; Subjective norms are significantly impacted by technological variables; lifestyle and purchase decisions are significantly impacted by attitude variables; lifestyle and purchase decisions are significantly impacted by subjective norm variables; and lifestyle and purchase decisions are significantly impacted by the PBC variable. In the meanwhile, the interaction between attitudes, subjective norms, and PBC on lifestyle and purchasing decision is unabated by motivation.
Analisis Persepsi Generasi Z Terhadap Investasi Berbasis ESG (Enviromental, Social, and Governance) di Jakarta Islamic Index Azhar, Jeihan Ali; Nada Cantika Putri Kadua; Rizki Dwi Safitri
Journal of Business Management and Islamic Banking Vol. 2 No. 1 (2023)
Publisher : UIN Sunan Kalijaga Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/jbmib.2023.0201-06

Abstract

Research aims: Penelitian ini bertujuan untuk mengetahui faktor yang memengaruhi minat berinvestasi berbasis Environmental, Social, and Governance (ESG) di Indeks Jakarta Islamic Index (JII). Penelitian ini mengadopsi teori UTAUT dengan model SEM PLS. Design/Methodology/approch: Metode pengumpulan data adalah survei menggunakan penyebaran kuesioner dengan pertanyaan tertutup. Jumlah responden dalam penelitian ini sebanyak 134 responden. Teknik pengambilan sampel menggunakan metode non-probability sampling dengan menerapkan purposive sampling. Teknik analisis data menggunakan SEM-PLS dan aplikasi SPSS 25. Research findings: Hasil penelitian ini menunjukkan bahwa financial literacy, subjective norm, dan atittude berpengaruh signifikan terhadap minat investasi berbasis Environmental, Social, dan Governance (ESG). Namun religiusitas tidak tidak berhasil memoderasi minat gen z berinvestasi di Indeks Jakarta Islamic Index (JII). Research limitation and implication: Implikasi dari penelitian ini diharapkan dapat menjadi masukan bagi industri pasar modal syariah untuk meningkatkan pelayanan dan langkah untuk menguatkan keuangan syariah khususnya pasar modal untuk memajukan perekonomian nasional dalam menyongsong Indonesia Emas 2045.
The Impact of Halal Destination Attributes, Experience Quality, and Local Behaviour on Muslim Tourist Satisfaction in Lombok: Moderation Destination Image Fahira, Khadhiya; Qodhari, Dafelia; Azhar, Jeihan Ali
Journal of Economics Research and Social Sciences Vol. 9 No. 1: February 2025
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v9i1.24438

Abstract

The main issue in developing halal tourism destinations is the limited understanding of the factors significantly influencing Muslim tourist satisfaction. This is crucial, considering the vast potential of the halal tourism sector in Lombok as a premier destination. This study examines the influence of Halal Destination Attributes, Experience Quality, and Local Behavior on Muslim Tourist Satisfaction in Lombok, considering Destination Image as a moderating factor. The research employed a quantitative approach, using a questionnaire survey distributed to 300 Muslim tourists who had visited Lombok. Data were analyzed using Partial Least Square-Structural Equation Modelling (PLS-SEM). The results showed that Experience Quality and Local Behavior significantly positively affected Tourist Satisfaction. In contrast, Halal Destination Attributes did not show a significant influence. Moreover, Destination Image could not moderate the impact of Halal Destination Attributes, Experience Quality, and Local Behavior on Muslim Tourist Satisfaction. These findings imply that destination managers should prioritize enhancing tourist experiences and fostering positive interactions with local communities to boost satisfaction, particularly in halal tourism. Although the availability of halal facilities is essential, the study suggests that the quality of the overall tourist experience and the behavior of local residents are more critical in shaping satisfaction. This highlights the need for targeted training programs for local communities and service providers to ensure high-quality, memorable experiences for Muslim tourists. Furthermore, future marketing efforts should focus on the experiential aspects of tourism rather than solely relying on promoting halal attributes.