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All Journal Jurnal Manajemen dan Bisnis Indonesia Jurnal Manajemen Indonesia Tanjungpura International Journal on Dynamics Economics, Social Sciences, and Agribusiness (TIJDESSA) El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam MERDEKA: Jurnal Ilmiah Multidisiplin Journal of Ekonomics, Finance, and Management Studies
Helma Malini
Faculty of Economy, Tanjungpura University
Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Economics, Econometrics & Finance Environmental Science Industrial & Manufacturing Engineering Social Sciences Other

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INDONESIA SHARI'AH COMPLIANCE STOCK RETURN BEHAVIOUR Helma Malini; Mohamad Jais; Rossazana Ab Rahim
Jurnal Manajemen Indonesia Vol 15 No 1 (2015)
Publisher : Fakultas Ekonomi dan Bisnis, Telkom University.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (552.757 KB) | DOI: 10.25124/jmi.v15i1.395

Abstract

This study aims to measures the behaviour of Indonesia Shari'ah compliance stock return. The measurement of return behaviour toward volatility will proved the capability of Indonesia Shari'ah compliance toward volatility that happened in Indonesia during the period of observation. Investing in Shari'ah compliance is quite different than investing in conventional stock which followed the capital market set of rules and law, Shari'ah compliance follows not only the capital market set of laws and but also the Islamic principles of principles. Most of the previous studies examine issues related to the conventional stocks and market. The present study take one step further by investigating issue related to Shari'ah compliance instrument. In the case of Shari'ah stock price in Indonesia, the dynamics volatility of the stock price can be minimized by taking an integrated screening process to the listed company, as precautions steps toward volatility
Testing the Existence of January Effect in Indonesia and Kuala Lumpur Shariah Compliance Helma Malini; Mohamad Jais
Jurnal Manajemen dan Bisnis Indonesia Vol 1 No 2 (2014): Jurnal Manajemen Bisnis Indonesia - Edisi Februari 2014
Publisher : Forum Manajemen Indonesia (FMI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31843/jmbi.v1i2.17

Abstract

This paper investigates the existence of January Effect in Indonesia and Malaysia Shari’ah stock market and the implication for stock market efficiency. Shari’ah Compliance is relatively a new industry both for Indonesia and Malaysia, although the growth is continously increasing over the year. There are significant differences between investing in Shari’ah compliant than the conventional stock market, since Shari’ah capital market have to followed a set of rules form the stock exchange and also followed Islamic capital market law and principles. Study that focusing about Shari’ah compliance both for Indonesia and Malaysia is still rare, that is why this study taking one step further by examining the january effect in Indonesia and Malaysia Shariah compliance. Regression model with dummy variables and monthly price of companies that classified in the Indonesia and Malaysia Shari’ah compliance from January 2000 to December 2012 to test the Janaury effect in the stock return of Indonesia Shari’ah compliance and Kuala Lumpur Shari’ah compliance. It was empirically found that, although Janaury anomaly does not exist in Indonesia Shari’ah compliance and in Kuala Lumpur Shari’ah compliance. Other result showed that both Shari'ah compliance also enjoyed significant return in other month beside January which is July for Indonesia and September, October and November for Malaysia, which raises question against Efficient Market Hypothesis (EMH). Keywords: Calendar effects, Indonesia and Malaysia Shari’ah compliance, January Effect, Efficient Market Hypothesis
DO RELIGION AFFILIATIONS CONTRIBUTE TO INVESTOR INVESTING DECISION? A STUDY OF INTERPRETIVE PARADIGMS AND ETHNOGRAPHIC METHODS: DO RELIGION AFFILIATIONS CONTRIBUTE TO INVESTOR INVESTING DECISION? A STUDY OF INTERPRETIVE PARADIGMS AND ETHNOGRAPHIC METHODS Eliza Fazliyaton Elias; Helma Malini
Tanjungpura International Journal on Dynamics Economics, Social Sciences and Agribusiness Vol. 1 No. 1 (2020): TANJUNGPURA INTERNATIONAL JOURNAL ON DYNAMICS ECONOMICS, SOCIAL SCIENCES AND AG
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (461.469 KB) | DOI: 10.26418/tijdessa.v1i1.7

Abstract

ABSTRACT This paper investigated the contribution of religion to an investor investment decision in financial market. A survey involving 150 employees was conducted. The result indicated differences in investment choice decisions between Muslim and non Muslim respondents. There was large number of Muslims who choice stock market to place their fund based on the fatwa that issued by Majelis Ulama Indonesia (Indonesia Muslim council). In contrast, a majority of non Muslims do not have any objection to placed their funding in religion affiliated investment. Religiosity was viewed from a Interpretive paradigms and Ethnographic Methods and accordingly four sets of instruments were used : Descriptive questions, Ethnographic Analytic Interview, Structural questions and Contrast questions. Descriptive questions delivered to find out respondent response to varied questions, Ethnographic questions delivered to find out respondent uniqueness background characteristics and how is it influencing their preferences of investment. The structural questions delivered to find out respondent responses to specific questions on investment. While contrast questions was delivered to find out final decision a contrary choice in investment. The result showed that there is significant contribution from religious affiliation toward investment decision with limited implementation of code of standard and principle of the rules. Keywords: Religion, Investment choice, Investment decision, Indonesia
DOES TRUST AND HEDONIC OTIVATION ENHANCE PURCHASE INTENTION? DOES TRUST AND HEDONIC OTIVATION ENHANCE PURCHASE INTENTION? Benedict Valentine Arulanandam; Helma Malini; Fiola Oktaningtias
Tanjungpura International Journal on Dynamics Economics, Social Sciences and Agribusiness Vol. 1 No. 2 (2020): TANJUNGPURA INTERNATIONAL JOURNAL ON DYNAMICS ECONOMICS, SOCIAL SCIENCES AND AG
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (495.994 KB) | DOI: 10.26418/tijdessa.v1i2.12

Abstract

Abstract: The purpose of this study is to define the influence of Hedonic Motivation, Instagram Stories Features and Trust to Consumer Purchase Intention. This work uses a quantitative approach to the study of data using multiple linear regression approaches. The participants in this analysis are women aged 20 to >25 years of age. The findings of this study are that Hedonic Motivation, Instagram Stories Features and Trust have a significant positive effect on Purchase Intention. The findings of the analysis showed that the three independent variables had a major positive effect. Hedonic Motivation, Instagram Stories Features and Trust have a major positive impact on Purchase Intention at a 5% point of significance. Keywords: Hedonic Motivation, Instagram Stories Features, Trust, Consumer Purchase Intention.
Macro Variable and Investment Decisions Effect on Company Value RIZQI MAGRHIBI; HELMA MALINI; Eliza, Eliza Fazliyaton Alias
Tanjungpura International Journal on Dynamics Economics, Social Sciences and Agribusiness Vol. 2 No. 2 (2021): TANJUNGPURA INTERNATIONAL JOURNAL ON DYNAMICS ECONOMICS, SOCIAL SCIENCES AND AG
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (314.567 KB) | DOI: 10.26418/tijdessa.v2i2.19

Abstract

Firm value is an investor's perception of a company, which is often associated with stock prices. A high share price indicates a high company value and a low share price indicates a low company value. Firm value is the price that prospective buyers are willing to pay if the company is sold. In other words, the value of the company that is formed through the stock market value indicator, is strongly influenced by investment opportunities, where investment opportunities provide a signal about the company's growth in the future, thereby increasing stock prices as an indicator of company value (signaling theory). The population in this study are companies listed on the IDX on Kompas 100 for the 2015-2019 period. The results of joint or simultaneous hypothesis testing show that there is a relationship between interest rates, exchange rates, economic growth, financial performance, funding decisions and investment decisions on firm value. Partial test results have a negative and insignificant effect on interest rates on firm value, which provides a relationship that when interest rates decrease, firm value will increase
Cognitive Bias Terhadap Keputusan Investasi Saham: Literasi Keuangan Sebagai Moderasi Sukhesy Eka Putri; Wendy; Helma Malini
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i3.6679

Abstract

This research analyzes the influence of the relationship between Cognitive Bias on Investment Decisions which is moderated by Financial Literacy. Data was collected through a questionnaire and analyzed using Smart PLS version 3.2.9 which consists of testing the outer model and inner model. Sampling used purposive sampling, where respondents had investment experience of 1 year, ages ranging from 20 years to 43 years. This research produced 200 respondents who met the criteria. Representative, availability and anchoring have a significant positive influence on investment decisions. Likewise, financial literacy as moderation has a positive influence on investment decisions. However, financial literacy as moderation does not, namely weakening the relationship between representative, availability and anchoring.
Peran Profitabilitas dalam Memediasi Pengaruh Kepemilikan Institusional dan Intellectual capital terhadap Nilai Perusahaan LQ45 Hamashiah, Mikhael; Helma Malini; Anggraini Syahputri
MERDEKA : Jurnal Ilmiah Multidisiplin Vol. 2 No. 6 (2025): Agustus
Publisher : PT PUBLIKASI INSPIRASI INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62017/merdeka.v2i6.4889

Abstract

Ketidakstabilan nilai perusahaan mencerminkan adanya faktor internal yang belum berfungsi secara optimal dalam menciptakan kinerja dan daya saing perusahaan. Penelitian ini bermaksud guna mengkaji kontribusi kepemilikan institusional dan Intellectual capital pada nilai perusahaan, melalui profitabilitas sebagai variabel mediasi. Data sekunder diperoleh dari perusahaan dalam indeks LQ45 periode 2020–2024. Analisis dilakukan dengan pendekatan kuantitatif menggunakan regresi berganda melalui perangkat lunak EViews dan uji mediasi menggunakan Sobel Test. Penelitian ini mengungkap bahwasanya kepemilikan institusional tidak memberikan kontribusi berarti pada profitabilitas maupun nilai perusahaan. Sebaliknya, intellectual capital terbukti mampu mendorong peningkatan profitabilitas, meskipun tidak berpengaruh langsung pada nilai perusahaan. Profitabilitas juga tidak menjadi penghubung dalam kaitan antara kepemilikan institusional dan nilai perusahaan, namun efektif sebagai jalur perantara dalam kaitannya dengan intellectual capital. Dengan demikian, optimalisasi modal intelektual menjadi kunci dalam memperkuat kinerja keuangan dan meningkatkan nilai perusahaan, sementara peran kepemilikan institusional dalam konteks ini masih belum menunjukkan dampak yang signifikan. Penelitian ini mengimplikasikan pentingnya pengembangan model nilai perusahaan yang lebih komprehensif dengan mempertimbangkan peran berbeda dari kepemilikan institusional dan intellectual capital.
Cognitive Bias Terhadap Keputusan Investasi Saham: Literasi Keuangan Sebagai Moderasi Sukhesy Eka Putri; Wendy; Helma Malini
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i3.6679

Abstract

This research analyzes the influence of the relationship between Cognitive Bias on Investment Decisions which is moderated by Financial Literacy. Data was collected through a questionnaire and analyzed using Smart PLS version 3.2.9 which consists of testing the outer model and inner model. Sampling used purposive sampling, where respondents had investment experience of 1 year, ages ranging from 20 years to 43 years. This research produced 200 respondents who met the criteria. Representative, availability and anchoring have a significant positive influence on investment decisions. Likewise, financial literacy as moderation has a positive influence on investment decisions. However, financial literacy as moderation does not, namely weakening the relationship between representative, availability and anchoring.
Co-Authors Anggraini Syahputri Benedict Valentine Arulanandam Eliza Fazliyaton Elias Eliza, Eliza Fazliyaton Alias Fiola Oktaningtias Hamashiah, Mikhael Mohamad Jais RIZQI MAGRHIBI Rossazana Ab Rahim Sukhesy Eka Putri Wendy