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Determinants of Shariah Banking Performances in Indonesia Through the Perspective of Economic and Social Level Malini, Helma
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 9, No 1 (2020): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis, UNTAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (668.28 KB) | DOI: 10.26418/jebik.v9i1.34327

Abstract

Shariah bank has become the core of Indonesia financial industry. In the implementation, Shariah banking in Indonesia is integrated with social issues since the basic fundamental of Shariah banking industry are from religions and regulations. In detail the return are not solely depends on society demand but also related with moral issues. As corruption that kept on happening and political instability makes Shariah Banking industry in Indonesia sensitive and fragile towards socio economic development happening during certain period. This paper attempt to investigate the socio economic factors together with bank specific factors of Indonesia Shariah Banks by using GMM and Quantile regression. The dataset used or in this study involves 34 Shariah banks in Indonesia. In this study, Return on Assets has been found significantly positive to bank specific factors such as credit risk and statistically negative to cost to income ratio. However, it has been found that the relationship between risk and return is heterogenous or dissimilar accross different quantiles. Findings of the study tend to reveal that the socio economic factors particularly corruption, political stability and investment freedom have positive and significant relation to the Shariah bank performances in Indonesia.
THE EFFECTS OF LIFE CYCLE AND FREE CASH FLOW ON DIVIDEND OF AGRICULTURAL COMPANIES THAT LISTED IN INDONESIA STOCK EXCHANGE Malini, Helma; Fitratama, Venu
Jurnal Social Economic of Agriculture Vol 9, No 2 (2020): JURNAL SOCIAL ECONOMIC OF AGRICULTURE
Publisher : Agribusiness Department, Agriculture Faculty, Tanjungpura University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26418/j.sea.v9i2.41821

Abstract

Company decision to give profits to their investors is based on several reasons including internal policy from the company. Therefore, this study discusses the effects of life cycle and free cash flow on dividend of agricultural companies that listed in Indonesia stock exchange. Independent variables; used are free cash flow, life cycle, firm size, leverage, assets growth, and investment opportunity set. The population in this study is Agricultural company listed on Indonesia Stock Exchange (BEI) in the period of 2015 - 2018. The sample collected using purposive sampling methods. Total of 21 companies were determined as samples. The method of analysis in this study is panel data regression with basis on fixed effect model. The result of this study indicate that the independent variables of free cashflow, life cycle, firm size, leverage, and investment opportunity set have positive impact toward dividend payout ratio while assets growth has negative impact on dividend payout ratio. The result of determination coefficient shows that the independent variables give affect 63.69% against dependent variable.Keywords: Free cash flow, Life cycle, Firm size, Leverage, Assets growth, Investment opportunity set, Dividend payout ratio, Dividend policy
Transparancy and Accountability Contribution Toward Sustainability of Banking Sector in Indonesia Helma Malini
Jurnal Inovasi Bisnis dan Kewirausahaan Vol 3 No 4 (2021): Business Innovation and Entrepreneurship Journal (November)
Publisher : Entrepreneurship Faculty, Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (700.113 KB) | DOI: 10.35899/biej.v3i4.337

Abstract

ABSTRACT- The board of directors, administrators, and top management personnel all play a role in establishing strategies, setting goals, and assigning duties to implementers. One of the primary goals of corporate governance is to increase shareholder value. On this basis, it can be argued that corporate governance is a critical component of any business's long-term viability. The goal of the study was to see how transparency and accountability affected the banking sector's long-term viability. The study was guided by three theories: agency theory, stewardship theory, and stakeholder’s theory, all of which provide important information on corporate governance processes and how different stakeholders' interests are addressed. This study employs a quantitative research methodology. It is used to quantify a problem in quantitative research by generating numerical data or data that can be turned into useable statistics. Transparency, accountability, justice, and responsibility, according to the study, all have a substantial impact on the banking industry's long-term viability. The study suggests that transparency and accountability have a favorable and considerable impact on the banking industry's long-term viability. The result suggesting that all Indonesian banks' management should strictly enforce openness in all operations and activities conducted by workers in order to achieve sustainability.
Corporate Governance and Company Value: A Manufacturing Industry Case Study Helma Malini; Dyen Natalia; Giriati Giriati
INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia Vol. 4 No. 4 (2021): INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia - Edisi September 2021
Publisher : Forum Inovasi Bisnis dan Manajemen

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (303.992 KB) | DOI: 10.31842/jurnalinobis.v4i4.196

Abstract

The purpose of this research is to look into the impact of corporate governance in the Indonesia Stock Exchange's Manufacturing Industry. Panel data from 73 Manufacturing Industry companies on the Indonesia Stock Exchange from 2014 to 2018 with a total of 365 observations of data whose research results were analyzed using panel data regression analysis with the Random Effect Model approach. Institutional ownership has a positive effect on Tobin's q and market book value, according to the study's findings. Tobin's q and market book value are negatively affected by foreign ownership. Meetings of the Board of Commissioners and the Audit Committee have a negative impact on stock price returns. Meetings of the board of directors, audit committee, and board of commissioners were found to have no impact on the value of the company. On the basis of these findings, it can be concluded that the results of testing the independent variables on the dependent are inconclusive and should be questioned further.
Shari’ah Compliances Stock Market Integration: Evidence From Indonesia and Malaysia Helma Malini
AFEBI Islamic Finance and Economic Review Vol 2, No 01 (2017)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (894.465 KB) | DOI: 10.47312/aifer.v2i01.59

Abstract

The nature of stock market integration has been an issue for almost a decade; this issue is more complicated toward Shari’ah compliance between countries since there are differences of companies screening process that can be classified as Shari’ah compliances. The differences make the integration of Shari’ah compliances stock market become a major issue in trying to answer the question whether one country can be the placed for Shari’ah portfolio diversification. This study aims to measure Shari’ah compliances integration and portfolio diversification in Indonesia and Malaysia Shari’ah compliances toward other Shari’ah compliances in the world. Six Shari’ah compliances are selected based on countries level of development and geographical factor. This studies relies on two major time series investigation techniques, namely the Auto-Regressive Distributed Lag (ARDL) approach and multi-variate Vector Error Correction Mechanism (VECM), based on the Generalized Methods of Moments (GMM). The ARDL approach is used to determine the existence of long run integration among Shari’ah compliances, while the multi-variate VECM based on the GMM is adopted to provide a robust analysis of short and long-run dynamic causal linkages among the stock markets.Keywords: Efficient Market Hypothesis, Portfolio Diversification, Shari’ah compliances Integration
Behavior of Stock Return ; Evidence from Indonesia and Malaysia Shariah Stock Market Helma Malini
AFEBI Islamic Finance and Economic Review Vol 3, No 02 (2018)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/aifer.v3i2.175

Abstract

This study aims to determine stock return behaviour in Indonesia and Malaysia Shariah stock market. Indonesia and Malaysia are selected based on the countries level of development and geographical factor, since both countries are emerging market with a rapid growth of Shariah stock market not only in term of listed companies but also in term of number of investor. Based on geographical proximity, both countries close to each other and have a strong bilateral relationship which makes their stock market return behaviour influence by many factors. This studies relies on two major time series investigation techniques, namely Economteric Modeling of returns; The Autoregressive model, Assumption of Linearity, Volatility Modeling of GARCH and its extension. The result showed that stock return behavior happening in Indonesia and Malaysia Shariah Stock Market.
The reality on the ground – placing Indonesian halal cosmetics onto the international pedestal Helma Malini; Benedict Valentine Arulanandam; Rizqi Maghribi
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol3.iss2.art1

Abstract

Purpose: The global halal industry has been making ground over the past decade in every sector of the worldwide economy. Indonesia is not left out in progress, considering its vast potential to develop the halal industry. This empirical study narrows down to the influence of halal labeling in the cosmetic industry as an export driver towards the economy of Indonesia.Methodology: This study undertakes a mixed-method approach drawing on quantitative and qualitative data. An in-depth face-to-face interview (with social distancing) was held using an interview guide, coupled with a survey questionnaire targeting regulators and manufacturers.Findings: The findings proved that halal certification, cosmetic quality, and brand image simultaneously affect buying decisions of cosmetics. Meanwhile, the Majelis Ulama Indonesia (MUI) recommends that cosmetics from Indonesia have a great opportunity to export. However, based on the results of interviews with cosmetic companies, they do not understand the concept of Maqashid al Syariah financing, which can integrate with the concept of halal products. Lastly, the cost of halal certification sometimes still burdens small-scale cosmetic companies, so support from the government is needed to encourage them to join the halal certification program.Originality: The research findings are helpful for the industry and regulators to address the export capabilities of Indonesian cosmetics. It provides an insight into the challenges and practical hindrances within the industry.
The Impact of the United States of America and China Export Rate Setting on Wealth and Liquidity of Shareholders Helma Malini; Herry Giovandi
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 5, No. 4, December 2021
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29259/sijdeb.v5i4.311-324

Abstract

The US-China trade war began in 2017 when both countries-imposed tariffs onproduct imports. The purpose of this study is to examine the effect of policy onshareholder prosperity (as measured by variable abnormal returns) and stock liquidity (asmeasured by variable volume trading activity) on the Indonesian Stock Exchange. Thedescriptive statistics, normality test, and paired sample t-test are used to analyse the datawhere sources of data in this study are secondary data. Secondary data in this study takenfrom the daily price of shares listed on the Indonesia Stock Exchange, especially stockslisted in LQ45 index from 27th June 2018 – 17th July 2018. The findings of this studyindicate that the United States and China's export-import tariff policies on 6th July 2018 donot have significant differences in terms of return and average trading volume. This meansthat the policy contains no information that could be used to influence investor decisionson the Indonesian Stock Exchange.
Sharia Banks Integration and Diversification in Asian and Middle East Countries Helma Malini; Djihan Islahiyah
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 3 No. 4, December 2019
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29259/sijdeb.v3i4.315-328

Abstract

The growth of Sharia Banking in Indonesia shows that Sharia banking in Indonesia is not only an international hub for Sharia banking in other regions but also as a place for investors to diversify investment portfolios other than conventional banking. The certainty of Sharia banking in term of stability makes Sharia Banking in Indonesia connected to one another. However, opportunities for portfolio diversification to Sharia banks in this case; Indonesia, Malaysia, India, Qatar, Bahrain and Japan are in questioned on whether there is integration between Sharia banking in those region and whether there is a possibility of Diversification of Sharia banking Portfolios in the region. In this manner the study is analysed on 25 banks’ data across selected countries. In the present study, ROA (Return on Assets) and ROE (Return on Equity) are used as measure of performance of diversification of banks. The number of credits and the amount of credits that Sharia banks let borrowers’ use are employed as control variables. According to the result of the analysis showed Indonesia Sharia banks Integration with another Sharia banks in selected countries are varied based the geographical proximity and bilateral trading relation with selected countries.
Competitiveness and Market Concentration of Islamic Banking Industry: A Comparison Study between Indonesia and Malaysia Helma Malini; Alifah Nurrahmani Putri
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 4 No. 3, September 2020
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29259/sijdeb.v4i3.175-190

Abstract

Financial integration in the ASEAN Economic community (AEC) by 2020 forces Islamic banks in Indonesia and Malaysia to be more competitive and have market power domestically and internationally to ensure business sustainability and increase assets rapidly in order to boost market share of Islamic banking in Indonesia and Malaysia. Islamic bank market competitiveness and power will determine the returns, investment, asset and trust of Islamic banks. The study uses data from 10 Islamic banks in Indonesia and Malaysia. The result confirmed that Islamic banking in Indonesia are characterized by the monopolize industry and Islamic bank in Malaysia are characterized by oligopoly Industry.