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All Journal Journal of Islamic Monetary Economics and Finance Management Studies and Entrepreneurship Journal (MSEJ) Jurnal Manajemen dan Usahawan Indonesia Journal of International Conference Proceedings
Permata Wulandari
Universitas Indonesia
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Electrical & Electronics Engineering Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Social Sciences

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 1 
The Impact of Macroeconomic News to Islamic Bond in Indonesia Permata Wulandari; Niken Iwani; Anis Wahyu Intan Maris
Jurnal Manajemen dan Usahawan Indonesia Vol 41, No 1 (2012): Jurnal Manajemen Usahawan Indonesia
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Indonesia

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

Abstract

Riset ini berfokus pada dampak pengumuman variabel makroekonomi terhadapobligasi syariah negara di Indonesia sepanjang tahun 2009-2010. Dampak pengumuman GDP, inflasi, nilai tukar dan uang beredar terhadap volatilitas yield obligasi syariah negara akan diukur dengan memperhatikan asymetric effect volatilitas obligasi syariah terhadap volatilitas variabel makroekonomi. Data yang diaplikasikan pada penelitian ini adalah variabel makroekonomi serta yield obligasi syariah di Indonesia (baik yang diterbitkan oleh pemerintah maupun oleh korporasi) yang terbagi atas kelas jatuh tempo yang berbeda (4, 6, 7 dan 10 tahun). Bivariate GJR GARCH (TARCH) digunakan sebagai metodologi pada penelitian ini serta Variance Autoregresion (VAR). Pearson correlation juga digunakan untuk menganalisis korelasi antara variabel dan Granger Causality. Korelasi pearson juga mengimplikasikan korelasi yang kuat antara variabelmakroekonomi dan yield sukuk pada setiap tenor di tingkat imbal hasil tertentudengan GDP dan inflasi sebagai variabel yang paling kuat berkorelasi dengan yield sukuk. Hasil ini didukung sebagaimana Granger causality menunjukan adanya hubungan antara GDP dengan inflasi terhadap yield sukuk. Hasil dari VAR menunjukan bahwa hanya nilai tukar yang mempengaruhi volatilitas yield sukuk. GJR GARCH kemudian mengungkapkan bahwa satu asymmetric effect terjadi pada kelas tenor 7 tahun.
SOCIO-DEMOGRAPHIC DETERMINANTS OF CREDIT RATIONING AT BAITUL MAAL WA TAMWIL IN INDONESIA Permata Wulandari; Salina Kassim
Journal of Islamic Monetary Economics and Finance Vol 5 No 3 (2019)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v5i3.1156

Abstract

This study seeks to identify credit rationing socio-demographic determinants to Islamic microfinance to achieve welfare improving goals in three Bottom of the Economic Pyramid (BOP) regions: Yogyakarta, East Lombok and Makassar, South Sulawesi, Indonesia. Another primary focus of this study is to highlight the suggested solutions from Islamic microfinance practitioners to overcome the challenges in the practice of credit rationing assessment. 2,650 borrowers at the BOP in 26 Islamic Microfinance Institutions (MFIs) in Indonesia were selected based on cluster sampling and purposive sampling methods. A questionnaire is adapted from several previous studies. Multinomial logistics regression is used in this paper. Results show that the determinant of credit rationing based on socio-demographic factors, reflecting certain socio-demographic factors that include age, gender, account balance, dependents, salary, monthly income, formal education, access to financing facility in the previous year, distance, and years of saving, has significant influence on the probability of getting financing. Thus, in order to reduce the credit-rationing problem, the major implications from this study are that Baitul Maal wa Tamwil (BMT) should enhance the participation of women, using monthly income rather than salary determinants, provide credit plus financing and realize a one village one BMT program. The solutionswould enhance the participation of BOP borrowers at BMT.
The Effect of Covid-19 Pandemic on Stock Returns: An Evidence of Indonesia Stock Exchange Ajeng Mugiarni; Permata Wulandari
Journal of International Conference Proceedings (JICP) Vol 4, No 1 (2021): Proceedings of the 9th International Conference of Project Management (ICPM) Mal
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v4i1.1122

Abstract

The pandemic Covid-19 caused panic not only in health sectors but also weakened the world’s economy. The stock market, as one of the barometers of the economy, was hit by the pandemic Covid-19. The impact of Covid-19 on the stock market provides a signal for investors. Stock returns are what investors look for when investing in stocks. Returns on the stock exchange respond to several events, one of which is the news about health related to the Covid-19 pandemic. This study aims to seek whether the Covid-19 outbreak affects stock returns in Indonesia Stock Exchange. Using daily data of Covid-19 confirmed case, daily data of Covid-19 death cases, and stock returns data in Indonesia from January 2, 2020, to December 31, 2020. The panel-data regression model is used to estimate the result of the study. This study shows that stock returns in Indonesia Stock Exchange respond negatively significantly as the number of confirmed cases increases also stock returns in Indonesia respond negatively significantly to the daily growth of death cases. This study also finds that stock return in consumer goods and basic chemical industry were the impacted industries caused by pandemic Covid-19. Empirical findings could be used for the practitioner to consider investing in the stock market to avoid the significant impact of such outbreaks in the future.
Merger and Acquisition Analysis in Creating Value for Shareholders in The Infrastructure and Utility Sector Valentina Hemas Widianova; Permata Wulandari
Journal of International Conference Proceedings (JICP) Vol 4, No 1 (2021): Proceedings of the 9th International Conference of Project Management (ICPM) Mal
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v4i1.1136

Abstract

Trough 20 – years period their merger and acquisition (M&A) in sector infrastructure and utilities are the pledge of the most country in the world, especially in Asia with most emerging countries. This study aims to know the relation about M&A activities to value shareholders in infrastructure and utilities sector in during last 20 years and year of crisis in 2020. Observe for acquire and target companies using event study approach to find Cumulative Average Abnormal Return (CAAR) on M&A activities that represent the value for the shareholders. Set event window for 31 days, consist of 15 days before the announcement and 15 days after announcement. Using sample of listed companies who making acquisition activities in Asia which size of the deal above USD 30 million. The result shows that the acquirers give positive CAAR that statistically significant 10% and the targets give positive CAAR statistically significant 5 %. The target company has higher cumulative abnormal average return than the acquirer company. Then M&A activity during crisis shows that for acquirer give positive not significant CAAR with 4,6% abnormal return and target give positive CAAR 3.4% but not significant. The target gives higher CAAR positive for t-15 to t+7 than the acquirer.
Explorative Analysis of Securities Crowdfunding: Pillars, Business Flow and Risk Mitigation in MSME Funding in Indonesia Wahyu Winoto; Permata Wulandari
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 4 No. 3 (2023): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v4i4.2155

Abstract

This research aims to dig deeper into the SCF industry by identifying essential pillars in the SCF ecosystem and their role in MSME funding, elaborating business processes in the SCF industry in Indonesia, and further exploring the risk mitigation carried out by SCF organizers for investors. The methodology used is a Qualitative Multicase Approach, which can be expressed in 2 proportions, namely proportion one, where there are far more supporting pillars in the SCF ecosystem in Indonesia compared to other countries because SCF in Indonesia is part of the capital market industry where Indonesia this industry is highly regulated and supervised. (highly regulated) and proportion 2, practice in Indonesia, the business flow of SCF funding will be more complex compared to other countries because many parties are involved in protecting the risks on investment that investors may experience. This study has practical implications, where we can see the ecosystem in the SCF industry and how it is practiced in Indonesia compared to other countries so that we, as Indonesians, can participate and contribute to advancing the SCF industry in Indonesia. This research brings novelty because it explains the essential pillars and business processes of the SCF industry, which are more complex in Indonesia than in other countries
Co-Authors Ajeng Mugiarni Anis Wahyu Intan Maris Niken Iwani Salina Kassim Valentina Hemas Widianova Wahyu Winoto