Article Per Year (5 Year)
p-Index From 2021 - 2026
0.778
P-Index
This Author published in this journals
All Journal Jurnal Reviu Akuntansi dan Keuangan JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Journal of Islamic Monetary Economics and Finance Journal of Advanced Multidisciplinary Research
Ahmad Maulin Naufa
BINUS Business School, Indonesia
Religion Aerospace Engineering Chemical Engineering, Chemistry & Bioengineering Computer Science & IT Earth & Planetary Sciences Economics, Econometrics & Finance Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mechanical Engineering Nursing Public Health Social Sciences

Published : 4 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 4 Documents
Search

 1 
ARE ISLAMIC STOCKS LESS EXPOSED TO SENTIMENT-BASED MISPRICING THAN NON-ISLAMIC ONES? EVIDENCE FROM THE INDONESIAN STOCK EXCHANGE Rizqi Umar Al Hashfi; Ahmad Maulin Naufa; U’um Munawaroh
Journal of Islamic Monetary Economics and Finance Vol 7 No 1 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i1.1319

Abstract

The aim of this research is to verify the role of Islamic value in stock mispricing in the Indonesian capital market. Empirically, high investor sentiment can lead to mispricing on equity appraisal. When investors feel excessively optimistic about their valuation, equity will be overpriced, or vice versa. The presence of Islamic values, such as the prohibition of interest, speculative and uncertain transactions, and excessive leverage, arguably reduce sentiment-based mispricing. Daily and cross-sectional market data were employed. In addition, principal component analysis was conducted to construct a firm-specific investor sentiment variable. With regard to the method, the Hausman-Taylor (H-T) approach was used to deal with heterogeneity, endogeneity, and the time-invariant variable in Fama-MacBeth regression. The results show that our baseline analysis confirms the mispricing of overall stocks. However, Islamic stocks are less exposed to sentiment-based mispricing than their non-Islamic counterparts. The results are consistent with our robustness test, in which we estimate the equation model across industry and portfolio. Finally, our findings imply various insights for both investors and policymakers.
The Covid-19, Policy And Capital Market: Empirical Evidence From Indonesia Sri Retnoningsih; Ahmad Maulin Naufa
Jurnal Reviu Akuntansi dan Keuangan Vol. 11 No. 2: Jurnal Reviu Akuntansi dan Keuangan
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1255.764 KB) | DOI: 10.22219/jrak.v11i2.16855

Abstract

This paper aims to examine the impact of Covid-19 on the Indonesian capital market. Second, we test whether any policy from regulators could mitigate its effects. By using daily time-series data from January to July, we propose the simplest regression model (ordinary least squares) to test its effect. We also conducted some robustness with various sectors and splitting samples to make sure that our findings are robust and consistent. We find that Covid-19 (proxied by new cases, cumulative cases, new deaths, and cumulative deaths) has a negative effect on stock price in all indexes, i.e., composite, Islamic, and all sectors (the worst in the financial sector). In other words, a higher number of Covid-19 leads to a lower stock price in Indonesia. Second, the regulations from the government (the President, Financial Service Authority, Central Bank of Indonesia, and Indonesian Stock Exchange) could reduce its negative impact. It means that the negative effect of Covid-10 on the Indonesian stock market is becoming lower after including policies from all regulators. Hence, measuring Covid-19’s drawbacks on the capital market by relevant policies in Indonesia. It is also quite pivotal to explore which one policy either effective or ineffective to mitigate Covid-19.
PROFILING FINANCIAL INCLUSION IN INDONESIA: DOES IT SUPPORT BANK SAVINGS AND HUMAN DEVELOPMENT INDEX? Supeni Anggraeni Mapuasari; Ahmad Maulin Naufa
JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Vol 8, No 1 (2022): Vol 8, No. 1 (2022)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1154.032 KB) | DOI: 10.34203/jimfe.v8i1.5136

Abstract

ABSTRACTThe purpose of this study was to test its positive correlation on the human development index. This study uses publicly available data from the Indonesian Financial Authority, the Central Statistics Agency, and the World Bank's Global Financial Index Data. Data analysis using correlation analysis. The results showed that the financial inclusion index had a positive correlation with total credit and total savings in each province. It also shows a positive correlation to the provincial-level human development index. The significance of our research is the financial inclusion of the province which brings many benefits to the state to a degree. Therefore, our research is to increase financial inclusion in Indonesia. Financial inclusion research is very limited to provincial-level analysis in emerging markets such as Indonesia, this study aims to expand the literature in this area and fill it.ABSTRAKTujuan penelitian ini bertujuan untuk menguji korelasi positifnya pada indeks pengembangan manusia. Penelitian ini menggunakan data yang tersedia untuk umum dari Otoritas Keuangan Indonesia, Badan Pusat Statistik, dan Data Indeks Keuangan Global Bank Dunia. Analisis data menggunakan menggunakan analisis korelasi. Hasil penelitian menunjukkan indeks inklusi keuangan memiliki korelasi positif terhadap total kredit dan total tabungan di setiap provinsi. Ini juga menunjukkan korelasi positif terhadap indeks pembangunan manusia tingkat provinsi. Signifikansi penelitian kami adalah inklusi keuangan membawa banyak manfaat bagi negara hingga tingkat provinsi. Oleh karena itu, implikasi dari penelitian kami adalah untuk meningkatkan inklusi keuangan di Indonesia. Penelitian inklusi keuangan sangat terbatas pada analisis tingkat provinsi di pasar negara berkembang seperti Indonesia, penelitian ini bertujuan untuk memperluas literatur di bidang ini dan untuk mengisi kesenjangan tersebut.
Growth and Competitive Analysis of SMEs in Sleman, Indonesia Yunita Anggarini; Ahmad Maulin Naufa
Journal of Advanced Multidisciplinary Research Vol 3, No 2 (2022): December 2022
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/jamr.3.2.115-127

Abstract

This study examines the factors that affect the growth and competitiveness of Small and Medium Enterprises (SMEs) in Sleman Regency Yogyakarta Indonesia. We collect the data using a survey technique involving 100 SMEs’owners from five sectors (the craft, food processing, clothes, metals, and others). Regression analysis was used to analyze the relationship between internal and external factors and the performance of SMEs. The findings depict that both internal factors (entrepreneur attitudes towards risk, learning entrepreneurship, the number of employees, financial reports, wealth value, age, and license) and external factors (marketing networks and supplier cooperation) affect the performance growth and competitiveness of SMEs. This paper recommends that in order to develop the business activities of SMEs, the efforts include easy access to capital, business scale, network, marketing and partnership, human resources (knowledge of marketing, product development, license, financial reports, supply chain, risk management, business management, and others) could increase the technology access of product development to establish a more conducive business climate and more systematic strategy assistance based on the specific problems faced by SMEs.
Co-Authors Rizqi Umar Al Hashfi Sri Retnoningsih Supeni Anggraeni Mapuasari U’um Munawaroh Yunita Anggarini