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All Journal Jurnal Penyuluhan Ahkam: Jurnal Ilmu Syariah Signifikan : Jurnal Ilmu Ekonomi Economic Journal of Emerging Markets Afkaruna: Indonesian Interdisciplinary Journal of Islamic Studies Jurnal Keuangan dan Perbankan Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) EQUILIBRIUM IQTISHADIA Indonesian Journal of Business and Entrepreneurship (IJBE) Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Jurnal Ekonomi Syariah Teori dan Terapan Walisongo: Jurnal Penelitian Sosial Keagamaan Global Review of Islamic Economics and Business FIKRI : Jurnal Kajian Agama, Sosial dan Budaya Journal of Management Review al-Uqud : Journal of Islamic Economics Al-Muzara'ah Jurnal Ekonomi & Keuangan Islam KEK (Kajian Ekonomi dan Keuangan) Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam EKOMABIS: Jurnal Ekonomi Manajemen Bisnis Shafin: Sharia Finance and Accounting Journal Journal of Islamic Economics Lariba Review on Islamic Accounting MIMBAR : Jurnal Sosial dan Pembangunan Tapis : Jurnal Penelitian Ilmiah

JAENAL EFFENDI

Department Of Islamic Economics, Faculty Of Economics And Management, IPB University.

Author-ID : 2875944

Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Social Sciences Other

Published : 47 Documents Claim Missing Document

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The determinant of equity financing in sharia banking and sharia business units Jaenal Effendi
Economic Journal of Emerging Markets Volume 10 Issue 1, 2018
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol10.iss1.art12

Equity financing plays an important role in mobilizing financing in the real sector. The core business of sharia banking is based on the real sector, but the financing portion in sharia banking is still dominated by debt financing. This study aims to analyze the factors that affect equity financing in General Sharia Bank (BUS) and Sharia Business Unit (SBU) in Indonesia. This study uses Error Correction Model. The results show that in the long-term model of Third Party Fund (DPK), Finance to Deposit Ratio (FDR), Non-Performing Financing (NPF), Inflation and Interest Rates Credit of Conventional Bank (SBK) has a significant positive effect on equity financing. BOPO variables (Operating Cost Ratio to the Operating Income) and Return on Assets (ROA) have a positive but not significant effect on equity financing. The DPK and FDR variables have a positive and significant effect on equity financing on the short-term model.

The Integration of Islamic Stock Markets of OIC Countries in China Stock Market Crisis and US-China Trade War Deri Siswara; Jaenal Effendi; Marhamah Muthoharroh
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 13, No 1 (2021)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Abstract. The purpose of this study is to analyze the integration and response of the Islamic stock market of the OIC countries before the crisis and during the China stock market crisis, also during the United States-China trade war with the ARDL method. The results showed that there was no cointegration in the period before the China stock market crisis. However, during the period of the China stock market crisis and the United States-China trade war, the cointegration was more common. The Indonesia Islamic stock market in the two crisis periods had a long-term relationship with the US and China stock markets. In terms of the benefits of portfolio diversification for investors, there is relevance of dominant economic, geographical, and trade relations in influencing the integration of the Islamic stock market.Keywords: Market Integration, Islamic Stock, China Stock Market Crisis, US-China Trade War, ARDL. Abstrak. Tujuan penelitian ini menganalisis integrasi dan respon pasar saham syariah negara-negara OKI sebelum dan saat terjadi krisis pasar saham Tiongkok, serta saat terjadi perang dagang Amerika Serikat-Tiongkok dengan metode ARDL. Hasil penelitian menunjukan bahwa tidak terdapat kointegrasi atau hubungan jangka panjang pada semua pasar saham syariah negara-negara anggota OKI pada periode sebelum krisis pasar saham Tiongkok. Akan tetapi, pada perode krisis pasar saham Tiongkok dan perang dagang Amerika Serikat-Tiongkok, integrasi antar pasar saham syariah di negara OKI lebih banyak ditemukan. Pasar saham syariah Indonesia dalam dua periode krisis memiliki hubungan jangka panjang dengan pasar saham Amerika Serikat dan Tiongkok. Dalam hal manfaat diversifikasi portofolio bagi investor, terdapat relevansi kekuatan ekonomi yang dominan, faktor geografis, dan hubungan perdagangan dalam mempengaruhi integrasi pasar saham syariah.Kata kunci: Integrasi Pasar, Saham Syariah, Krisis Pasar Saham Tiongkok, Perang Dagang AS-Tiongkok, ARDL.

The Effect of Social Capital on Customer’s Repayment Rate at Islamic Microfinance Institution Jaenal Effendi; Annisa Rindra Utami
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

The potency of Micro and Small Enterprises (MSEs) in Indonesia which is great, is not directly proportional to the ease of getting capital from formal financial institutions such as banks because it is not bankable. Meanwhile, microfinance institutions (MFIs) that provide financing to the MSEs are currently thriving. This condition exposes the existence of factors that cause the MFIs continuesly providing financing to MSEs which are not bankable. This research aims to analyze the effect of social capital toward the repayment rate of Islamic MFIs’ customers. The methods used in this research was the logistic regression. The results showed variable relationship with BMT employees, relations with other customers, and Islamic recitation had positive and significant effect toward the repayment rate of the customer. While recommendations, membership status, and travel time from home to the BMT had negative and significant effect. Variable outside the social capital indicator which is income rate had no significant effect.DOI: 10.15408/aiq.v8i2.2631

Islamic Insurance: A Potential Niche Market of Indonesia Jaenal Effendi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 10, No 1: January 2018
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Islamic insurance in Indonesia is potentially expected to grow along with the increase in Islamic financial market. Hence, this paper aims to develop strategy and policy recommendations for stakeholders of Islamic insurance industry in Indonesia. This article applied ANP approach by classifying it into three aspects, namely problem, solution, and strategy. Problem and solution aspects consist of four clusters including internal, customer, competition, as well as regulation. Also, strategy offered is the strategy to improve the quality of service, strategy to develop the relationship and synergy between the authorities and the Islamic Financial Institutions. DOI: 10.15408/aiq.v10i1.5330

APLIKASI MODEL BISNIS MICROBANKING SYARIAH DI INDONESIA Jaenal Effendi; Lukman Mohammad Baga; Irfan Syauqi Beik; Tita Nursyamsiah
IQTISHADIA Vol 10, No 2 (2017): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v10i2.2241

Microbanking is generally defined as a broad set of financial services to meet the needs of the poor and small enterprises. However, mirobanking that have been well-designed might not have a positive impact on the poorest unless it particularly obtains to reach them through proper business model. On the other hand, Indonesia lists as the largest Moslem community in the world. Hence, microbanking that are ruled under sharia regulation namely Islamic microbanking hopefully enable to support the development program particularly to the poor and SMEs in Indonesia. Therefore, the study of practices Islamic microbanking business model should be conducted in order to design the strategy of development, particularly on financial inclusion program. This study used qualitative analysis through a process of discussion, focus group discussion (FGD), in-depth interviews and literature review in order to gain information from primary and secondary sources as well as a comparative study of business models of Islamic microfinance in Indonesia.

Initial Identification of Mudharabah Savings Market Share Improvement Strategies in Indonesia Putri Ramadhani Saragih; Jaenal Effendi; Imam Teguh Saptono
Indonesian Journal of Business and Entrepreneurship (IJBE) Vol. 4 No. 2 (2018): IJBE, Vol. 4 No. 2, May 2018
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.4.2.141

Sharia banking has been arising for 26 years in Indonesia. Its market share is still lower than 5%. Study about sharia banking’s market share is always an interesting observation. Mudharabah savings as one of the third party fund has a significant role to improve market share by low cost fund type. The objectives of this study are to analyze mudharabah savings elasticity, significant independent factor to it and initial market share improvement strategies. The methods used to combine vector error correction model (VECM) and business model canvas (BMC). This research concludes that conventional bank rates and sharia bank outlets have a relationship with mudharabah contract savings demand. Furthermore, mudharabah savings has a substitute relationship with conventional saving by negative cross elasticity. The results are combined with business model canvas (BMC) to describe mudharabah saving business model as a managerial action to explain initial strategies of mudharabah saving. BMC arranged by choosing conventional bank rates as value proposition focus and sharia bank outlets as key resources focus.Keywords: demand elasticity, mudharabah savings, business model canvas (BMC), sharia banking, initial strategies

Pemilihan Nazhir Dalam Optimalisasi Pengelolaan Wakaf Uang Shinta Wulandari; Jaenal Effendi; Imam Teguh Saptono
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 5 No. 2 (2019): JABM Vol. 5 No. 2, Mei 2019
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.5.2.295

There is a gap between the potency and real data of cash waqf raising in Indonesia. Hence, an effective strategy is needed to develop the potential of cash waqf. This research aimed to analyze whether the Islamic Bank can be an alternative to the institutional development of cash waqf in Indonesia (Nazhir) and analyze the strategies needed to optimize the cash waqf management. This research used descriptive quantitative and qualitative approaches based on literature studies, observation, and questionnaires by using an analytical network process (ANP) method. The alternative selection of cash waqf management strategy through competent and professional Nazhir is determined by five criteria; including Accountability, Product, Human Resources, Regulation, and Network. In Nazhir selection’s analysis in optimizing cash waqf management, these five criteria have an important role in accordance with their respective functions to produce management strategies and cash waqf development through competent and professional Nazhir. The results showed that Islamic Banking is the most recommended Nazhir in determining the potential strategy of cash waqf development with the highest weighted score. Accountability is the most influential criterion in determining the cash waqf development strategy with professionalism in management as the most influential sub-criteria.Keywords: ANP, cash waqf, islamic banking, nazhirAbstrak: Saat ini diperlukan strategi yang efektif untuk mengembangkan potensi wakaf uang, mengingat potensi yang sangat besar namun realisasi penghimpunan masih belum optimal. Tujuan penelitian ini untuk menganalisis apakah Bank Syariah dapat menjadi alternatif pengembangan kelembagaan wakaf uang di tanah air (nazhir wakaf uang), dan menganalisis strategi yang diperlukan dalam mengoptimalkan pengelolaan wakaf uang. Penelitian menggunakan pendekatan deskriptif kuantitatif dan kualitatif berdasarkan studi literatur, observasi, dan kuesioner dengan menggunakan analytical network process (ANP).Alternatif pemilihan strategi pengelolaan wakaf uang melalui Nazhir yang kompeten dan professional ditentukan oleh lima kriteria meliputi Akuntabilitas, Produk, SDM, Regulasi, dan Jangkauan. Dalam analisis pemilihan nazhir dalam optimalisasi pengelolaan wakaf uang, kelima kriteria tersebut memiliki peranan penting sesuai dengan fungsinya masing-masing untuk dapat menghasilkan strategi pengelolaan dan pengembangan wakaf uang melalui Nazhir yang kompeten dan profesional. Hasil penelitian menunjukan bahwa Perbankan Syariah adalah Nazhir yang paling direkomendasikan dalam penentuan strategi potensi pengembangan wakaf uang dengan nilai bobot tertinggi. Akuntabilitas adalah kriteria yang paling berpengaruh dalam menentukan strategi pengembangan wakaf uang dengan profesionalisme pengelolaan sebagai subkriteria yang paling berpengaruh. Kata kunci: ANP, wakaf uang, perbankan syariah, nazhir

KEUNGGULAN SISTEM KEUANGAN BERBASIS BAGI HASIL DAN IMPLIKASINYA PADA DISTRIBUSI PENDAPATAN Iman Sugema; Toni Bakhtiar; Jaenal Effendi
Jurnal Keuangan dan Perbankan Vol 13, No 3 (2009): September 2009
Publisher : University of Merdeka Malang

In this paper we attempted to answer a fundamental question whether banking systembased on a profi t-loss sharing (PLS) could improve welfare than an interest based banking system bydeveloping a rigorous theoretical modeling. In the framework of production technology we fi rstlyshowed that under production certainty and competitive market both PLS and interest based systemswere effi cient and right. However, under an uncertain situation due to a productivity shock,we proved that only the PLS system was right. We verifi ed our result by quantifying the effects onincome distribution for both lender and borrower. Two indicators, namely the standard error of distributionand Gini ratio were considered. We showed that the conventional credit market led to aserious income distribution problem where lenders did not enjoy the variability in income and didnot bear any risk, but in contrast, borrowers bore all the risk. On the other side, PLS system sharedthe risk between lenders and borrowers. In the end of the analysis, we proposed an instrument thatwould improve the performance of a PLS system from lenders perspective by introducing a so-calledrisk pooling mechanism.

Efficiency and sustainability of microfinance: Study case agribusiness microfinance institutions in Bogor Triane Widya Anggriani; R. Nunung Nuryartono; Bambang Juanda; Jaenal Effendi
Jurnal Keuangan dan Perbankan Vol 23, No 4 (2019): October 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i4.3591

Microfinance is one of the solutions in poverty alleviation in rural areas. The existence of financial access in a rural area, with hope, low-income society can increase their revenues and eventually able to escape the circle of poverty. The agribusiness microfinance institution is the institution that provides financing services to farmers in rural areas. However, agribusiness microfinance institution is facing sustainability problems. We analyzed financial sustainability in terms of the cost-efficiency of the Agribusiness Microfinance Institution (AMFI). The study utilized a parametric approach method of Stochastic Frontier Analysis (SFA). The sampling technique used was purposive sampling, namely AMFI possessing two years of financial reports (in the year 2016-2017) around Bogor District, there were fifteen AMFIs qualified. The result indicates AMFIs' efficiency value in Bogor District almost approaching 100%. It means that the AMFIs' financial performance in Bogor District was highly efficient. Labor cost is a very responsive variable in the total cost. However, AMFIs' labor cost was low. This matter caused administrator performance in servicing their customers to become not optimal, thus impacting the unsustainability of AMFI.JEL Classification: G21, G23DOI: https://doi.org/10.26905/jkdp.v23i4.3591

Islamic Micro Finance and Its Impact on Poverty Reduction of Two Village Models in Bogor, Indonesia Mustica Bintang Sabiti; Jaenal Effendi
Signifikan: Jurnal Ilmu Ekonomi Vol 6, No 1 (2017)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

The purpose of this paper is to identify the effectiveness of Islamic microfinance institutions and their impact on poverty reduction in two types of rural areas in the district of Bogor, Indonesia. This research uses descriptive analysis, using a likert’s scale and with a paired sample t test to determine the impact of Islamic micro finance to micro business performance. Multiple regression is also used to see the effect of the types of villages in the implementation of micro-enterprise businesses. The results show that the Islamic micro financing has affected the effectiveness of the income and expenditure aspects, but also quite effective in the aspect of profit and use in expenditure. Furthermore, funding-based Islamic microfinance also has a positive influence on business micro and poverty reduction.DOI: 10.15408/sjie.v6i1.4337

Co-Authors AGENG PRASETYO Amas Priatna, Isep Amelia Nadiah Wahyu Putri Anggita Aulia Pratiwi Annisa Rindra Utami Ascarya Ascarya Bambang Juanda Dedi Budiman Hakim Deri Siswara Ditta Wardhani DWI SURYANTO Ebrinda Daisy Gustiani Endriatmo Sutarto Faqih Udin dan Jono M. Munandar Meivita Amelia Hadi Riyadi Imam Teguh Saptono Imam Teguh Saptono Indah Fresma Sari Intan Aulia Ardhani Irfan Syauqi Beik Isep Amas Priatna Lisda Qotrunnada Nabila Putri Lukman M. Baga Marhamah Muthoharroh Mohammad Iqbal Irfany Muhammad Firdaus Muhammad Firdaus Mulya Tarmizi Mustica Bintang Sabiti Mustica Bintang Sabiti Muthoharroh, Marhamah Nunung Nuryartono Nunung Nuryartoro Nur Majdina Nur Rohmat Fadlil Nurkholis Yasmin Nuwailah Pangesti, Eka Rahmawati Prasetyo, Ageng Putri Ramadhani Saragih R. Bagus Sugiharto Shinta Wulandari Siti Karimah Sugema, Iman Sulisyanti, Ayu Supartoyo, Yesi Hendriani Tanti Novianti Thiarany, Usy Tita Nursyamsiah, Tita Tita Nursyamsiyah Toni Bakhtiar Triane Widya Anggriani Usy Thiarany Utami, Annisa Rindra Widya Gina Widya Syafitri Wirawan . Yeti Lis Purnamadewi Yuridistya Primadhita Yusman Syaukat Yusman Syaukat

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