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All Journal Journal of Islamic Monetary Economics and Finance Journal of Management and Entrepreneurship Research
Tastaftiyan Risfandy
Universitas Sebelas Maret, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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ISLAMIC BANKING MARKET DISCIPLINE IN INDONESIA Joko Suliyono; Tastaftiyan Risfandy
Journal of Islamic Monetary Economics and Finance Vol 7 No 3 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i3.1376

Abstract

This paper examines the market discipline of Islamic banks, as manifested by the responses of depositors with regard to their deposits and profit-sharing ratio to the fundamentals of the banks in the case of Indonesia. We analyse the supply and demand function of deposits using panel data from 10 Islamic banks from 2010 Q1 to 2019 Q4. We empirically find that market discipline in Indonesian Islamic banks is relatively weak, and conjecture that this is for two reasons. First, religious depositors have driven the unusual behaviour of Islamic banks, as we find that they stay with the same bank, even if it has poor fundamental conditions. Second, the profit and loss sharing mechanism means that Islamic bank depositors do not have great flexibility in demanding a higher rate relevant to the risk they must bear. This is because depositors' actual return is set to be consistent with the actual profit obtained from the banks' lending activities. Our results lead to the call for policymakers to effectively monitor the fundamental conditions of Islamic banks and to collaborate with agencies and organisations that promote Islamic bank development in Indonesia.
CFO Characteristics and Liquidity Creation: Evidence from Indonesia Mohammed Abdullah Salem Bahbry; Tastaftiyan Risfandy; Muh. Juan Suam Toro
Journal of Management and Entrepreneurship Research Vol. 6 No. 3 (2025)
Publisher : Universitas Islam Nahdlatul Ulama Jepara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34001/jmer.2025.9.06.3-70

Abstract

Objective: While the importance of liquidity creation in banking has been widely acknowledged, limited empirical research has explored how Chief Financial Officer (CFO) characteristics influence this critical function, particularly within emerging markets such as Indonesia. This study addresses this gap by examining the impact of CFO attributes specifically gender, age, ethnicity, and tenure on liquidity creation in Indonesian banks. Research Design & Methods: This study adopts a quantitative research design utilizing secondary panel data from 40 banks listed on the Indonesia Stock Exchange (IDX) over the period 2013–2023. The analysis employs robust Ordinary Least Squares (OLS) regression to examine the effect of CFO characteristics including gender, age, ethnicity, and tenure on bank liquidity creation. Findings: The findings reveal that CFO age is positively associated with liquidity creation, indicating that older CFOs may be more effective in managing liquidity. Conversely, CFO gender and ethnicity exhibit significant negative effects, suggesting that female CFOs and those from minority ethnic backgrounds are linked to lower liquidity creation. CFO tenure, however, shows no statistically significant impact. Implications & Recommendations These results highlight the importance of executive demographics in shaping liquidity strategies and financial intermediation within bank-based economies. The study suggests that organizations should consider demographic diversity and experience when appointing financial leaders. Contribution & Value Added: This research adds to the limited literature on executive influence in liquidity creation, particularly in emerging markets. It offers practical insights for corporate governance, executive recruitment, and diversity policy in the financial sector.
Co-Authors Joko Suliyono Mohammed Abdullah Salem Bahbry Muh. Juan Suam Toro