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Indonesian Stocks’ Volatility during COVID-19 Waves: Comparison between IHSG and ISSI Alghifary, Muhammad Syauqy; Kadji, Dzuliyati; Hafizah, Iffah
International Journal of Islamic Economics and Finance (IJIEF) Vol 6, No 1 (2023): IJIEF Vol 6 (1), January 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/ijief.v6i1.14838

Abstract

This study aims to compare Islamic and conventional stocks’ performance amid a crisis. The performance was measured by analyzing the volatility of the Indonesian Sharia Stock Index (ISSI) and the Composite Stock Price Index (IHSG) during the COVID-19 pandemic. Based on the results of the different tests using the paired t-test and Wilcoxon rank test methods, it was uncovered that the ISSI and IHSG experienced significant changes before and after discovering the first case of COVID-19 in Indonesia. Significant changes in both values were also found when the Delta variance spread. Meanwhile, when the third wave occurred due to the presence of the Omicron variant, ISSI and IHSG could move more stable and did not experience significant shocks. Then, the estimation results of the GARCH model conclude that both Islamic and conventional stocks have an immense volatility power with an identical value of 0.94 or close to 1. The volatility is also significantly influenced by the previous volatility and the squared error, representing other previous events outside the model. Moreover, the volatility in Islamic and conventional stocks is not much different, even though both stocks have different characters in the debt and income ratio. Fundamental factors also cause this high volatility in the form of shocks in several macroeconomic variables, including the rupiah exchange rate, gold prices, and world oil prices. Besides, the contagion effect that occurred during the COVID-19 crisis also contributed to the spread of systemic risk in global stock indexes on stock volatility in Indonesia.
Indonesian Stocks’ Volatility during COVID-19 Waves: Comparison between IHSG and ISSI Alghifary, Muhammad Syauqy; Kadji, Dzuliyati; Hafizah, Iffah
International Journal of Islamic Economics and Finance (IJIEF) Vol. 6 No. 1 (2023): IJIEF Vol 6 (1), January 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/ijief.v6i1.14838

Abstract

This study aims to compare Islamic and conventional stocks’ performance amid a crisis. The performance was measured by analyzing the volatility of the Indonesian Sharia Stock Index (ISSI) and the Composite Stock Price Index (IHSG) during the COVID-19 pandemic. Based on the results of the different tests using the paired t-test and Wilcoxon rank test methods, it was uncovered that the ISSI and IHSG experienced significant changes before and after discovering the first case of COVID-19 in Indonesia. Significant changes in both values were also found when the Delta variance spread. Meanwhile, when the third wave occurred due to the presence of the Omicron variant, ISSI and IHSG could move more stable and did not experience significant shocks. Then, the estimation results of the GARCH model conclude that both Islamic and conventional stocks have an immense volatility power with an identical value of 0.94 or close to 1. The volatility is also significantly influenced by the previous volatility and the squared error, representing other previous events outside the model. Moreover, the volatility in Islamic and conventional stocks is not much different, even though both stocks have different characters in the debt and income ratio. Fundamental factors also cause this high volatility in the form of shocks in several macroeconomic variables, including the rupiah exchange rate, gold prices, and world oil prices. Besides, the contagion effect that occurred during the COVID-19 crisis also contributed to the spread of systemic risk in global stock indexes on stock volatility in Indonesia.
PENGABDIAN MASYARAKAT UNTUK PENCEGAHAN STUNTING DI SEKOLAH TAHFIDZ RAUDHATUL QUR’AN, MALANG Kadji, Dzuliyati; Pangestuty, Farah Wulandari; Santoso, Dwi Budi; Wijaya, Asyadia Haq Zahra
Jurnal Abdi Insani Vol 11 No 4 (2024): Jurnal Abdi Insani
Publisher : Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/abdiinsani.v11i4.1580

Abstract

Undernourishment is an enormous health issue in Indonesia. Younger children are more likely to be stunted due to the important physical and cognitive growth phase from 0 to 5. Educational institutions can create a stunting prevention forum by incorporating instructors and parents. Parents can discover strategies to meet their children's nutritional demands during this crucial stage. Teachers may mitigate stunting by helping kids live healthy lives. Thus, the Faculty of Economics and Business team from Brawijaya University, Malang, conducts stunting prevention community engagement at an early childhood school. It studies how community participation promotes stunting prevention knowledge among parents and teachers at Raudhatul Qur'an Tahfiz School in Malang. A socialization program at Raudhatul Qur'an Tahfidz School in Malang City aims to raise teachers' and parents' awareness and comprehension of stunting prevention and its prevention methods.
PELATIHAN BAHASA ISYARAT UNTUK PENGGERAK PKK DI KARANGPLOSO, MALANG Prasetyia, Ferry; Pangestuty, Farah Wulandari; Kadji, Dzuliyati; Wijaya, Anorti Ika
Jurnal Abdi Insani Vol 11 No 4 (2024): Jurnal Abdi Insani
Publisher : Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/abdiinsani.v11i4.1581

Abstract

A high prevalence of disability in Malang Regency prompted the Community Engagement  Team of FEB Universitas Brawijaya to initiate a program empowering people with disabilities to deliver sign language training. This community engagement  initiative aimed to enhance non-physical accessibility and inclusivity within community engagements. Specifically, it sought to improve communication skills between the general public and individuals with hearing impairments, ultimately facilitating their active participation in society. The program, conducted in collaboration with the Ngijo Village Government, targeted PKK activist as participants. Omah Gembira, a local community organization, partnered with the initiative by providing sign language training materials and involving individuals with hearing disabilities. The program encompassed three phases: planning, implementation, and evaluation. The sign language training successfully fostered participant enthusiasm and effectively equipped PKK activists with communication skills, leading to improved interactions with the hearing impaired. By promoting sign language proficiency, the training demonstrably contributed to improved non-physical accessibility and community inclusivity. Notably, the involvement of individuals with hearing disabilities in providing materials exemplifies the program's commitment to supporting their active participation. This community engagement  activity represents a positive step towards fostering a more inclusive society and encouraging the active involvement of people with hearing disabilities within the community.
Optimizing ZISWAF as a Social Safety Nets: A Lesson from COVID-19 Pandemic Paksi, Girindra Mega; Indraswari, Citra Rahayu; Kadji, Dzuliyati; Aulia, Dynda Fadhlillah
Journal of Finance, Economics and Business Vol. 3 No. 1 (2024): JFEB, May 2024
Publisher : Laboratorium Riset Ekonomi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59827/jfeb.v3i1.118

Abstract

Introduction: Safety nets are needed in the economic and non-economic sectors to overcome the adverse effects of the disaster. The past COVID-19 pandemic has shown the importance of a safety net to prevent extreme poverty due to disasters. In this case, ZISWAF assets should be used as a safety net to prevent a decline in people's welfare due to various disasters that will occur in the future. Therefore, this study aims to explore the potential of ZISWAF assets as a safety net in the future Methods: This study uses the Literature Review method, comparing various result from researches to form a comprehensive review Results: The study results show that ZISWAF assets in the past have been used to improve people's welfare. However, there seems to be a paradigm shift today where ZISWAF, particularly in Indonesia, is only used to fulfill worship purposes, not to encourage people's welfare. Several potential method is available to be used as choices to optimize ZISWAF Conclusion and suggestion: It is hoped that innovations will be made to utilize ZISWAF assets to be used as a social safety net in the future to optimize ZISWAF