Singgih Muheramtohadi
Universitas Islam Negeri Walisongo Semarang

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The effect of sharia share selection based on financial ratio and corporate governance mechanism on the quality of company profit Nida Ulya Sofana; Faris Shalahuddin Zakiy; Muchammad Fauzi; Singgih Muheramtohadi; Najim Nur Fauziah
Journal of Islamic Accounting and Finance Research Vol 3, No 2 (2021)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2021.3.2.8671

Abstract

Purpose - This study aims to obtain empirical evidence regarding the effect of Islamic stock selection based on financial ratios (debt to assets ratio, debt to equity ratio, non-halal income ratio) and corporate governance mechanisms (managerial ownership, independent commissioners, institutional ownership, audit committee) on company earnings quality.Method - The population of this research is all companies that are members of the Indonesian Sharia Stock Index in 2017-2019. The sample selection used purposive sampling method and obtained 67 sample companies. This study uses secondary data with multiple linear regression analysis method.Result - Debt to assets ratio, managerial ownership, institutional ownership, and audit committee have no significant positive effect on earnings quality. The ratio of non-halal income has a negative and significant effect on earnings quality. Meanwhile, the debt to equity ratio and independent commissioners do not have a significant negative effect on earnings quality.Implication - Companies that are members of the Indonesian Sharia Stock Index are expected to be able to improve the quality of their financial reports. On the other hand, investors are expected to find out and study the company's annual report as a material consideration for investment decisions.Originality - The originality of the research is this study intends to develop previous research by examining the selection criteria for sharia shares and corporate governance mechanisms.
The use of Hajj fund for investment purpose: a maqashid sharia approach Singgih Muheramtohadi
Journal of Islamic Economics, Management, and Business (JIEMB) Vol 1, No 1 (2019)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2019.1.1.3740

Abstract

Purpose -  Hajj financial use The Hajj is an obligation for Muslims who can carry out. Over time, the number of people who perform Hajj is increasing, but the quota is minimal. It raises new problems; one of them is the problem of the financial management of Hajj. The financial of Hajj accumulates and inflation occurs every year. One of the solutions to the financial problem in Hajj is to invest in a productive field. The purpose of this paper is to find out the Islamic scholars’ consideration of the justification of using Hajj fund and investing it in productive fields.Method - This research is conducted through a qualitative descriptive approach.Result - All Islamic organizations in Indonesia, especially MUI (Majelis Ulama Indonesia/ Indonesian Ulama Council), justify the Hajj financial use.Implication  -  The result can be used by society as information and consideration regarding Hajj and the mechanism of financial management in religious prayers administered by the government.Originality  - This research study the recent existence of investment purposes in Hajj fund management.
The legal status of online loan service in Indonesia according to the Islamic jurisprudence of Shafi’i school Singgih Muheramtohadi
Journal of Islamic Economics, Management, and Business (JIEMB) Vol 3, No 1 (2021)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2021.3.1.10266

Abstract

Purpose – Start-up business has developed significantly in the last decade. The development follows the digital technology ownership. Online loan service (pinjaman online; pinjol) is one of the start-up products based on the online credit. But it has problems relating to human rights violations and Islamic Jurisprudence. This study aims to investigate the possibility of violence of online loan service (pinjol) and the view of Islamic jurisprudence of Shafi’i school on online loan service.Method – This paper uses description and analysis methods.Result – The result of this study is that one of the problem sources is the high amount of bank interest in online loan. Moreover, the debt terms are so easy, and the disbursement process is so fast, so that it causes bad credit among debtors. According to Shafi’i scholars, the high bank interest is part of the mudha’afah usury, although both parties have agreed the contract. However, the sanctions for bad debtors are not accordance with Islamic sharia that prioritize the debt (qardh) to help other people. In addition, this credit business causes so many harms (mudharat). Implication – This study will help government, business player, and consumers to understand online loan service according to Islamic jurisprudence.Originality – This study is among few other studies who investigate the current trend of online loan service in Indonesia.  
Kemandirian Ekonomi Pesantren Ditinjau Dari Aset dan Operasionalnya Singgih Muheramtohadi; Septiana Na'afi
Jurnal Ilmiah Ekonomi Islam Vol 8, No 2 (2022): JIEI
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v8i2.4880

Abstract

Minister of Religious Affairs, Yaqut Chalil Qaumas in 16th of December 2021 Stated that he would release the Pesantren Economic Independence Program. Pesantren have make the breakthrough with maximilixing their economic potency. The model that will be purposed is the giving investment capital with associate to BUMN and make them as ‘foster parents’ for pesantren in developing its business. This program can’t be assessed how it will work. But the term of Independency Pesantren in Economy, must be explained in detail how the independency of pesantren so far. This write will explain two sides, they are the independency of its asset and independency of its operational. Is it true that the these institutions depend on other parties? The discussion in this write use description and analysis methods. And the result of this discussion are the pesantren have the culture power that take root in the middle of society. And the aid and grant that received from others, including alumni, not considered the aid from others, but those the potency of pesantren.
Exploratory Factor Analysis: Analysis of Islamic Bank Sustainability Factors in Facing the Disruption of the Industrial Revolution Singgih Muheramtohadi; Choirul Huda; Retno Septia Adila
AL-ARBAH: Journal of Islamic Finance and Banking Vol 4, No 1 (2022)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2022.4.1.14667

Abstract

AbstractPurpose - In this study, researchers are interested in analyzing the factors of resilience (sustainability) that must exist or be carried out by Islamic banks to challenge the disruption of the industrial revolution 4.0.Method - This research is quantitative research. The research approach is exploratory which has the intention to obtain a description and understanding of the problems experienced by researchers. The instrument in this study was a questionnaire which was then tested for validity and reliability. After the data has been collected, the data is tested with the stages of testing confirmatory factor analysis data which is able to reduce a number of variables into several dominant factors that affect the sustainability of Islamic banks in facing the disruption of the industrial revolution 4.0.Result - This study concludes that: 1) 18 variables each have a Measure of Sampling Adequacy (MSA) value higher than 0.5 and are categorized as having met the adequacy of the sample. 2) Factor analysis is suitable for simplifying the group of 18 variables. 3) Two dominant factors are formed, which are called the customer's financial benefit factor and the customer's safety and comfort factor.Implication - This research helps Islamic banks to remain sustainable from the onslaught of the disruption of the Industrial revolution 4.0 based on the variables of customer desires.Originality - This study focuses more on Islamic banking instead of professional banking as in previous studies and in the analysis the researcher uses exploratory factor analysis to determine the dominant factor from  series of variables. The study is different from previous research.