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Identifying a Convergence between Non-Financial Information and Islamic Accounting for Islamic Decision Usefulness: A Review and Synthesis Ibnu Qizam
Global Review of Islamic Economics and Business Vol 8, No 2 (2020)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2020.082-01

This study aims to explore a framework of developing the Islamic decision usefulness (IDU) concept through a review of non-financial information and Islamic accounting under the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) literature for convergence and the extent to which this convergence will inspire future empirical-research opportunities for the increased Islamic decision usefulness (IIDU). Exploring and delineating historically non-financial information literature to be linked with Islamic accounting trends through content analysis, this study suggests that decision usefulness of non-financial information has flourished from being complementary to the strategic role of information, adopting the ideas of creating shared value (CSV), and sustainable value-creation (SVC). To this point, the enhancement of decision usefulness emitted from non-financial information and Islamic accounting literature points to the same pole (convergence), exposing the firms’ relevant-sustainable shared-value for 3Ps (profit, people, and planet) blended with Islamic accounting concepts, whereby welcoming many future empirical-research opportunities for the increased Islamic decision usefulness (IIDU).

Quantitative Sharia-Screening Effect on Portfolio Performance and Volatility: Evidence from Indonesia Syamsul Arifin; Ibnu Qizam
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-04

The aim of this study is to examine the comparative performance and volatility between Sharia and conventional portfolios listed on the Indonesia Stock Exchange (IDX) and to investigate the effect of quantitative (debt-ratio) screening on the Sharia-and-conventional-portfolios returns specifically applied in the selected public firms with the inter-industrial low-correlations. Applying a non-parametric test, the autoregressive integrated moving average (ARIMA) model, and the regression analysis, the results suggest that there is no difference in performance between Sharia and conventional portfolios; Sharia portfolios show the lower risks than conventional portfolios. Using quantitative Sharia-screening, the debt-to-equity ratio (DER) affects Sharia-portfolio returns, but not conventional-portfolio returns. This study contributes to providing country-specific evidence on applying quantitative Sharia-screening. Taking notice of the existing high-profile debt-ratio and applying the relatively loose standard of quantitative Sharia-screening for the public firms in Indonesia, this suggests that a country-specific quantitative Sharia-screening standard should be supported.

The Role of Institution and Macroeconomic Policy Mix on Economic Growth in Muslim Country Muhammad Ghafur Wibowo; Hadri Kusuma; Ibnu Qizam
International Journal of Islamic Economics and Finance (IJIEF) Vol 5, No 1 (2022): IJIEF Vol 5 (1), January 2022
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/ijief.v5i1.11646

This study examines the role of the fiscal and monetary policy mix on economic growth with the St. model. Louis, which Andersen and Jordan developed in 1968, included the variable quality of institutions (governance) as a moderator. This research model uses the independent variable in the form of money supply (M) as a proxy for monetary policy and government expenditure (G) and government debt (D) as a proxy for fiscal policy. The governance index variable (INS) consists of 6 indicators, namely 1). Voice and Accountability; 2). Political Stability and Absence of Violence/Terrorism; 3). Government Effectiveness; 4). Regulatory Quality; 5). Rule of Law; 6). Control of Corruption. The objects of this research are all member countries of the Organization of the Islamic Conference (OIC), 57 countries. Due to the limited data that can be accessed, 46 countries were selected as research samples with a research period of 2005-2018. The analytical tool used in this study is a moderating panel data regression consisting of 28 equations. This study indicates that fiscal policy (government expenditure) and monetary policy (money supply) have a significant effect on economic growth. The government debt has a negative effect on economic growth in OIC countries. The quality of governance has a positive effect on economic growth in the OIC countries. This shows the important role of the quality of governance in the economy, as in the latest economic growth theory. The quality of governance cannot moderate the effect of the fiscal and monetary policy mix on economic growth in the OIC countries. The governance index plays a more direct role in economic growth, not as an effective moderator for government economic policies. The governance index is more effective in moderating various economic variables, which are private economic activities.

Institutional Quality and Sukuk Development: A Study of Five OIC Countries Nuhbatul Basyariah; Hadri Kusuma; Ibnu Qizam
Shirkah: Journal of Economics and Business Vol 5, No 3 (2020)
Publisher : IAIN Surakarta

The objective of this study is to shed some light on the effect of institutional quality on the development of the global sukuk market. Specifically, this study examines the impacts of the institutional quality that adopts three dimensions of the Worldwide Governance Indicators (WGI), i.e., Rule of Law (RL), Regulatory Quality (RQ), and Government effectiveness (GE) on the global sukuk development of the top-five countries of sukuk issuance, i.e., Malaysia, Kingdom of Saudi Arabia, United Arab Emirates, Indonesia, and Bahrain. Drawing on a quantitative study with the data in the forms of global sukuk issuance from 2002 to 2017, panel-data regression (OLS) and General Method of Moment (GMM) were applied. This study showed that RL and GE have a significantly positive effect on sukuk issuance; however, RQ did not influence the development of the global sukuk market. These results imply that a country that is capable to maintain the institutional quality, especially in terms of rule of law and government effectiveness, will most likely be the country that can successfully develop the sukuk market. These results play a crucial role in filling a research gap among previous studies and provide an empirical evidence of the government’s role and its influence on the sukuk development.

The impact of Sukuk on the country’s economic growth with country governance as a moderating variable Irma Yuliani; Ibnu Qizam; Arif Nugroho; Zul Ihsan Mu'arrif
al-Uqud : Journal of Islamic Economics Vol. 6 No. 1 (2022): January
Publisher : Universitas Negeri Surabaya

This study examines the impact of Sukuk on economic growth with country governance (regulatory quality, the rule of law, and government effectiveness) as the moderating variable. Five countries, Indonesia, Malaysia, United Arab Emirates, Bahrain, and Saudi Arabia were taken as samples. Data taken were from 2006 to 2018. Moderating Regression Analysis (MRA) was used to test the effect of the variables in the country's governance in moderating the relationship between Sukuk and economic growth. The Generalized Least Square (GLS) was used to minimize the variance in the estimation model. The findings of this study indicate that the Sukuk development moderated by the regulatory quality has a significant positive effect on the country's economic growth. At the same time, the other two moderating variables (the rule of law and government effectiveness) did not show a significant moderation effect. The regulatory quality shows the policy's efficiency implemented by the government and Sukuk innovation.

Manajemen Risiko Perbankan Syariah: Manajemen Risiko Perbankan Syariah Dimas Kenn Syahrir; Ickhsanto Wahyudi; Santi Susanti; Darwant Darwant; Ibnu Qizam
AKUA: Jurnal Akuntansi dan Keuangan Vol. 2 No. 1 (2023): Januari 2023
Publisher : Yayasan Pendidikan Penelitian Pengabdian Algero

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54259/akua.v2i1.1382

Nowaday, the development of sharia banking on a global scale is increasing rapidly marked by major advances in muamalah issues due to the emergence of the desire of the majority of Muslims to practice Islam in a comprehensive manner, including in the field of Islamic economics, especially sharia banking. In carrying out its operational activities, sharia banks must implement sharia principles so that a good regulatory framework is needed in order to create a good environment for the growth and development of the sharia banking industry and the stability of the financial sector as a whole. The effectivity of risk management in Islamic banks needs special attention because there are many complex issues that need to be better understood, especially related to the nature of the specific risks faced by Islamic banks simultaneously related to the ways and methods of Islamic financing through the use of a combination of methods and contracts that are permissible related issues regarding returns or PLS (profit loss sharing) and non-PLS so that this paper will raise a number of issues in risk measurement, recognition, collateral adequacy and others. Therefore, this paper aims to discuss various solutions, innovations and appropriate adjustments from the aspect of risk management related to the special characteristics of Islamic financial products and services in Islamic banking.

Determinan Profil Risiko Terhadap Performance Bank Pembiayaan Rakyat Syariah Di Provinsi Sumatera Barat Nur Azlina; Husni Shabri; Ibnu Qizam
Al-bank: Journal of Islamic Banking and Finance Vol 3, No 2 (2023): July - Desember 2023
Publisher : Universitas Islam Negeri Mahmud Yunus Batusangkar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31958/ab.v3i2.9169

This study aims to analyze the effect of risk profile on the performance of Islamic Rural Bank (BPRS) in West Sumatra Province. This type of research is a field research with a quantitative approach. The samples in the study were seven BPRS in West Sumatra Province that have been operating sharia since 2019. Secondary data in the form of annual financial statements of each BPRS for the period 2019-2022. The analysis technique used panel data regression. The results showed that the credit risk profile using the Non Performing Financing ratio and liquidity risk using the Financing to Deposit Ratio partially had no significant effect on the performance of BPRS as measured using the Return on Asset ratio. However, both risk profiles simultaneously have a significant effect on the performance of BPRS with a coefficient of determination of 96%. The practical implication of this research is that credit risk and liquidity risk must be managed simultaneously, including other risks faced by banks because they have a very strong influence on bank performance.

What Determines Foreign Direct Investment in Muslim Countries? Muhammad Adnan Azzaki; Ibnu Qizam; Abdul Qoyum
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 2 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i2.20840

This study examines the influence of institutional quality, green economy policies, and financial development on Foreign Direct Investment (FDI) in Muslim countries. It employed panel data from 2010 to 2020 and is analyzed using the Dynamic Panel Model with the Generalized Method of Moments (GMM), which allows for handling endogeneity problems that often arise in panel data analysis. Statistical testing revealed that most institutional quality indicators, such as Political Stability, Government Effectiveness, Regulatory Quality, and Rule of Law, significantly and positively impact foreign direct investment. Additionally, the green economy, represented by natural resources, human capital, and the overall regulatory environment, also exerts a significant positive effect on foreign direct investment. Similar outcomes were observed in the financial sector's development, which significantly and positively reinforced the relationship between institutional quality and the green economy on foreign direct investment in Muslim countries. These results suggest a positive trajectory for resource management potential that can enhance the investment climate in Muslim countries. The findings offer valuable insights for policymakers in formulating effective strategies to boost capital inflows in Muslim countries. Policymakers are advised to consistently monitor both institutional quality and green economy indicators to discern investor preferences for foreign direct investment inflows.==============================================================================================================ABSTRAK – Determinan Apa yang Mempengaruhi Investasi Asing Langsung di Negara-negara Muslim? Paper ini menguji pengaruh kualitas kelembagaan, kebijakan ekonomi hijau, dan pembangunan keuangan terhadap Investasi Asing Langsung (FDI) di negara-negara Muslim. Studi ini menggunakan data panel tahun 2010 hingga 2020 yang dianalisis dengan Model Panel Dinamis dengan Generalized Method of Moments (GMM) yang memungkinkan penanganan masalah endogenitas yang sering muncul dalam analisis data panel. Hasil pengujian statistik menunjukkan bahwa sebagian besar indikator kualitas kelembagaan yang diwakili oleh Stabilitas Politik, Efektivitas Pemerintah, Kualitas Peraturan, dan Supremasi Hukum berpengaruh positif signifikan terhadap penanaman modal asing langsung. Selain itu, ekonomi hijau, yang tercermin pada sumber daya alam, sumber daya manusia, dan peraturan lingkungan secara keseluruhan mempunyai dampak positif yang signifikan terhadap investasi asing langsung. Hasil serupa juga diperoleh pada pengembangan sektor keuangan yang mampu memperkuat hubungan kualitas institusi dan ekonomi hijau terhadap investasi asing langsung di negara-negara Muslim secara positif dan signifikan. Temuan ini menunjukkan tren positif mengenai potensi pengelolaan sumber daya yang dapat menciptakan manfaat bagi iklim investasi di negara-negara Muslim. Temuan-temuan ini juga mempunyai implikasi berharga bagi para pembuat kebijakan dalam merancang strategi efektif untuk meningkatkan aliran modal di negara-negara Muslim. Mereka disarankan untuk terus memantau kualitas kelembagaan dan indikator ekonomi hijau untuk mengidentifikasi preferensi investor terhadap arus masuk investasi asing langsung.

Determinan Profil Risiko Terhadap Performance Bank Pembiayaan Rakyat Syariah Di Provinsi Sumatera Barat Nur Azlina; Husni Shabri; Ibnu Qizam
Al-bank: Journal of Islamic Banking and Finance Vol 3, No 2 (2023): July - Desember 2023
Publisher : Universitas Islam Negeri Mahmud Yunus Batusangkar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31958/ab.v3i2.9169

This study aims to analyze the effect of risk profile on the performance of Islamic Rural Bank (BPRS) in West Sumatra Province. This type of research is a field research with a quantitative approach. The samples in the study were seven BPRS in West Sumatra Province that have been operating sharia since 2019. Secondary data in the form of annual financial statements of each BPRS for the period 2019-2022. The analysis technique used panel data regression. The results showed that the credit risk profile using the Non Performing Financing ratio and liquidity risk using the Financing to Deposit Ratio partially had no significant effect on the performance of BPRS as measured using the Return on Asset ratio. However, both risk profiles simultaneously have a significant effect on the performance of BPRS with a coefficient of determination of 96%. The practical implication of this research is that credit risk and liquidity risk must be managed simultaneously, including other risks faced by banks because they have a very strong influence on bank performance.

Developing a Framework of Improved Decision Usefulness in Financial Information Ibnu Qizam
E-Jurnal Akuntansi Vol 31 No 5 (2021)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2021.v31.i05.p12

It is indispensable to improve decision usefulness for decision-making process for business. This study attempts to seek a framework of expanding a concept of decision usefulness (DU) through a regulatory-process check and a review of financial information literature and the extent to which future research opportunities could emerge from this DU concept for the improved decision usefulness (IDU). The regulatory process and research trends on financial information show that financial-information decision has evolved from reliability-driven to relevance-driven financial-information theories and moves forward to international accounting standardization issues. To this end, the development of ‘synthesis’ theories and approaches in financial information offers many future empirical-study chances for improved decision usefulness. Keywords: Decision Usefulness; Financial Information; Reliability-Driven Financial Information; Relevance-Driven Financial Information; International Accounting Standardization.

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