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The Effect of Leverage, Firm Size, and Asset Turnover on Revenue Growth in Automotive Sector Companies Listed on the Indonesia Stock Exchange for the 2020–2024 Period Muhammad Baihaqi; Fithri Dzikrayah; Iman Supratman
Indonesian Journal of Economics and Management Vol. 6 No. 1 (2025): Indonesian Journal of Economics and Management (November 2025)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/ijem.v6i1.6799

Abstract

The COVID-19 pandemic caused a drastic decline in vehicle sales in Indonesia by 48.5% in 2020, accompanied by technological transformation towards electrification that required automotive companies to adapt quickly. This study analyzes the effect of leverage, firm size, and asset turnover on revenue growth in six automotive companies listed on the Indonesia Stock Exchange for the period 2020-2024. Using panel data regression analysis with a Fixed Effects Model, this study found that leverage had no significant effect (coefficient = -0.001312; p = 0.9008), while firm size (coefficient = 0.990886; p = 0.0000) and asset turnover (coefficient = 1.106046; p = 0.0000) had a positive and highly significant effect on revenue growth. Simultaneously, all three variables have a significant effect with an R-squared of 99.57% (F-statistic 607.4727; p=0.0000). These findings indicate that operational efficiency and business scale are key determinants of revenue growth for automotive companies amid industry disruption.
Mandatory Bequest (Wasiat Wajibah) in Interfaith Inheritance Cases (A Study of Indonesian Supreme Court Decision No. 16 K/AG/2010 from the Perspective of Maqāṣid al-Sharī‘ah) Muhammad Baihaqi
QURU’: Journal of Family Law and Culture Vol. 4 No. 1 (2026): QURU’: Journal of Family Law and Culture
Publisher : Pusat Studi Penelitian dan Evaluasi Pembelajaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59698/quru.v4i1.576

Abstract

A person’s death often gives rise to inheritance disputes, especially when there is a difference of religion between the deceased (the decedent) and the heirs. In Islamic law, the majority of jurists hold that a difference of religion constitutes an impediment to mutual inheritance. Nevertheless, some scholars propose an alternative solution through the mechanism of wasiat wajibah (mandatory bequest) for parties who are legally barred from inheriting. Building on this reality, this study aims to analyze the legal reasoning in the decisions at the first instance, appellate, and cassation levels by using the perspective of Maqāṣid al-Sharī‘ah, in order to assess the extent to which those decisions reflect principles of justice and public benefit (maṣlaḥah). This research is a library-based study with a descriptive-analytical character. The approaches employed include normative juridical and statutory juridical approaches, while remaining grounded in the overarching objectives of Islamic law (Maqāṣid al-Sharī‘ah). The findings indicate that Indonesian Supreme Court Decision No. 16 K/AG/2010 expands the application of wasiat wajibah which, under the Compilation of Islamic Law (KHI), is originally intended only for adopted children and adoptive parents into a solution for contemporary inheritance problems, including for non-Muslim heirs. Through this decision, the Supreme Court determined that parties who are barred from inheriting due to religious difference may still receive a portion of the estate through a mandatory bequest, based on considerations of justice, humanity, and social welfare. This decision is considered consistent with the objectives of Islamic law, particularly the protection of religion, life, and property, because it preserves the core principles of Islamic inheritance law while also providing protection and welfare for those otherwise excluded. The implementation of wasiat wajibah is relevant to Indonesia’s plural society and reflects the orientation of Islamic law toward the public good (maṣlaḥah) of the community. This article recommends: clarifying the regulation of wasiat wajibah in the Compilation of Islamic Law (KHI) including for heirs of different religions; issuing Supreme Court (MA) technical guidelines to ensure consistent and predictable rulings; and strengthening legal literacy/mediation as well as inheritance planning (wills and hibah) to prevent disputes in line with maqāṣid al-sharī‘ah.
Qowaidul Fiqhiyah Dalam Penetapan Jadwal Adzan Dzuhur Dan Asar Di Kediri Muhammad Baihaqi; Rafidah Farah; Urfi Dwi Anggarini
Muwafaqat: Journal of Islamic Law Vol. 1 No. 1 (2025): Muwafaqat: Journal of Islamic Law
Publisher : Cv. Kayaswara Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65097/muwafaqat.v1i1.21

Abstract

This study examines the practice of delaying the call to prayer (adzan) for Dhuhr and Asr in Pare, Kediri, as a social response to the agrarian and educational rhythms of the community. Employing a qualitative approach and qawaid fiqhiyyah analysis, the findings reveal that this temporal adjustment is not a deviation but a manifestation of fiqh responsive to local realities. Legal maxims such as al-‘ādah muḥakkamah, al-mashaqqah tajlibu at-taysīr, and maslahah mursalah form the normative basis for legitimizing this practice within the bounds of Sharia. The Syafi’i school offers a consistent yet contextually flexible methodological framework in addressing such socio-religious phenomena. This adjustment also aligns with the objectives of Islamic law (maqāṣid al-sharī‘ah), particularly in preserving religion (ḥifẓ al-dīn) and fostering congregational engagement. Thus, the delayed adzan in Pare reflects an adaptive, maslahah-oriented, and contextually grounded face of Islamic jurisprudence. This study advocates for a model of Islamic law that is not merely textual, but transformative and deeply rooted in the lived realities of the ummah.