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Quo-Vadis Ekonomi Syariah di Indonesia Saidah, Fauziah Nur; Nugroho, Lucky; Mardoni, Yosi
Pelita : Jurnal Penelitian, Terapan dan Aplikatif Vol. 1 No. 1 (2024): Pelita Journal February 2024
Publisher : Baca Dulu Publisher

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Abstract

This research article aims to identify strategies and innovations to overcome challenges and maximize opportunities in the Islamic economy in Indonesia. Therefore, the problem formulations in this research include: (i) What are the basic principles of Islamic economics? (ii) What are the challenges and opportunities of implementing Islamic economics in Indonesia? (iii) What are the strategies and innovations to overcome challenges and maximize opportunities of Islamic economics in Indonesia? Furthermore, the method used in this research is to use qualitative descriptive analysis to collect information from various sources, such as books, government reports, academic literature, and journals related to the problems and opportunities of implementing Islamic economics in Indonesia.  The results of this study are that there are several key strategies, including increasing public literacy, increasing Islamic financial inclusion through digitalization, developing Islamic fintech, halal e-commerce, halal product innovation, training, and human resource development, international cooperation, strengthening research and data, promotion and branding, and developing halal infrastructure. Furthermore, in the Industrial Revolution, 4.0, and the new average era, innovation and creativity based on information technology, communication, and digitalization are significant in developing strategies for Islamic economic development. It enables better efficiency, accessibility, and market expansion. The implications of this research provide strategic and innovative recommendations for the Islamic finance industry, government, and economic actors to optimize the implementation of Islamic economics in Indonesia. Furthermore, the novelty of this research article is that it contributes to designing strategies and innovations that the Islamic finance industry, government, and economic actors can implement. These strategies are designed to overcome challenges and take advantage of opportunities to optimize the implementation of Islamic economics in Indonesia.
BEYOND THE EFFICIENT MARKET HYPOTHESIS: A CONCEPTUAL INQUIRY INTO CALENDAR ANOMALIES Shehryar, Muhammad; Mardoni, Yosi; Anser, Muhammad
JRAK Vol 17 No 2 (2025): October Edition
Publisher : Faculty of Economics and Business, Universitas Pasundan, Bandung, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrak.v17i2.32540

Abstract

Calendar anomalies, including the day-of-the-week effect, week-of-the-month effect, and January effect, persistently contest the efficient market hypothesis (EMH), which asserts that asset prices completely incorporate available information. This study reviews previous research to explore why these predictable patterns persist despite technological progress and market transparency. By combining perspectives from EMH, behavioral finance, and the adaptive market hypothesis (AMH), the study explains the temporal variability of these anomalies across different market contexts. Results demonstrate that investor sentiment, cognitive biases, and socio-cultural influences largely contribute to their persistence. The discourse encompasses practical implications for investment strategy, portfolio management, and regulatory surveillance, particularly highlighting Shariah-compliant and emerging markets where anomalies may display unique attributes. Investors, mutual funds, and brokers can gain benefit through generating higher returns.