Article Per Year (5 Year)
p-Index From 2020 - 2025
5.603
P-Index
This Author published in this journals
All Journal Indonesian Journal of Islam and Muslim Societies MUQTASID IJTIHAD Jurnal Wacana Hukum Islam dan Kemanusiaan INFERENSI Jurnal Akuntansi Multiparadigma Indonesian Journal of Business and Entrepreneurship (IJBE) Mozaik Humaniora Jurnal Ekonomi Syariah Teori dan Terapan JURNAL EKONOMI DAN BISNIS AIRLANGGA Jurnal Pemuda HUMAN FALAH: Jurnal Ekonomi dan Bisnis Islam Hayula: Indonesian Journal of Multidisciplinary Islamic Studies Jurnal Studi Pemuda Al Tijarah Perisai : Islamic Banking and Finance Journal Economica: Jurnal Ekonomi Islam al-Uqud : Journal of Islamic Economics AFEBI Islamic Finance and Economic Review Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Ihtifaz: Journal of Islamic Economics, Finance, and Banking International Journal of Islamic Business and Economics (IJIBEC) Indonesian Journal of Halal Research Cendekia: Jurnal Pendidikan dan Pembelajaran ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM) El-Qist : Journal of Islamic Economics and Business (JIEB) Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit Airlangga International Journal of Islamic Economics and Finance Telaah Bisnis Jurnal Riset Public Relations Perbanas Journal of Islamic Economics and Business International Journal of Emerging Issues in Islamic Studies International Journal of Islamic Business and Economics (IJIBEC)
Muhamad Nafik Hadi Ryandono, Muhamad Nafik
Departemen Ekonomi Syariah – Fakultas Ekonomi Dan Bisnis – Universitas Airlangga
Religion Arts Humanities Biochemistry, Genetics & Molecular Biology Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Medicine & Pharmacology Social Sciences Other

Published : 97 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 97 Documents
Search

 4   5   6   7   8 
EFISIENSI OPERASIONAL SEBAGAI STRATEGI UNTUK MENINGKATKAN KINERJA BMT (Studi Kasus: BMT UGT Sidogiri Cabang Lumajang) Qonitah Bakhitah; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 6 No. 6 (2019): Juni-2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol6iss20196pp1287-1303

Abstract

This research aims to determine the efficiency as one of the strategies in increasing the Financial Performance of Baitul mal wattamwil UGT Sidogiri Lumajang. The method used in this research is a qualitative approach with a case study strategy. The object of this research is Baitul maal wattamwil UGT Sidogiri Lumajang. Data collection is done by interviewing informants from Baitul mal wattamwil UGT Sidogiri Lumajang. The results were conducted from observation and interviews by researchers to 3 informants, showed that the strategies by Baitul mal wattamwil included: controlling operational costs, increase third-party Funds (DPK) savings and time deposits, finance clearly directional, and improve our services and product features fee based income, innovating on the technologies used, targeting every employee, , providing training regarding skills needed by employees, performance appraisal systems, employee rewards and promotions based on their contribution in efforts to improve quality, sustainable productivity.Keywords: Strategic, Efficiency, Finance performance, Baitul mal wattamwil UGT Sidogiri LumajangREFFERENCESAkbar, Rifki Ali. 2010. Analisis Efisiensi Baitul Mal Wa Tamwil dengan Menggunakan Data Envelompent Analysis (DEA). Skripsi Universitas Diponegoro SemarangAli, M. Mahbubi dan Ascarya.2010. Analisis Efisiensi Baitul Maal Wat Tamwil dengan Pendekatan Two Stage Data Envelopment Analysis (Studi Kasus Kantor Cabang BMT MMU dan BMT UGT Sidogiri).TAZKIA Islamic Finance & Business Review Vol. 5 No.2Ascarya dan Diana. 2006. Analisis Efisiensi Perbankan Syariah di Indonesia dengan Data Envelopment Analysis, TAKZIA Islamic Finance and Business Review, Vol. 1, No. 2 Desember 2006Ascarya dan Diana Yumanita. 2008. Comparing The Efficiency of Islamic Banks in Malaysia and Indonesia. Buletin Ekonomi Moneter dan PerbankanAziz, Abdul. 2008. Ekonomi Islam Analisis Mikro dan Makro. Yogyakarta: Graha Ilmu.Bank Indonesia.(Online). (https://www.bi.go.id/id diakses pada tanggal 5 Mei 2019)BMT UGT Sidogiri. (Online). (https://www.bmtugtsidogiri.co.id/berita-.html diakses pada tanggal 10 September 2018)Buchori,Nur S. 2012. Koperasi Syari’ah Teori dan Praktik. Banten: Pustaka Aufa MediaDarsono, dkk. 2017. Memberdayakan Keuangan Mikro Syariah Indonesia Peluang Dan Tantangan Ke Depan. Jakarta: TAZKIA PUBLISHING David, Fred R. 2006. Manajmen Strategis: Konsep, Edisi 10 Buku 1. Jakarta: Penerbit Salemba Empat.David, R. Fred. 2004. Konsep Manajemen Strategis Edisi VII. Jakarta: PT. Indeks.David, R. Fred. 2011. Manajemen Strategis: Konsep. Jakarta: Salemba Empat.Departemen Agama RI. Al-Quran & Tafsirnya. Edisi yang disempurnakan. Jilid V. Jakarta: 2008.Evan, Ardhi.201. Efisiensi Baitul Mal wa tamwil (bmt) anggota Induk Koperasi syariah Dengan Metode data Envelopment Analysis (DEA).SkripsiGinting, Isma Ilmi Hayati dan Ilyda Sudardjat.Analisis Strategi Pengembangan Bmt (Baitul Maal Wat Tamwil) Di Kota Medan. Jurnal Ekonomi dan Keuangan Vol.2 No.11Gobel, Meryanti.2013.Analisis Efisiensi Biaya Operasional Melalui Pengelolaan Tunjangan Makan Dan Jaminan Pemeliharaan Kesehatan Pada Perusahaan Jasa Outsourcing. Jurnal EMBA Vol.1 No.4, Hal. 1868-1878Huda, Nurul dan Heykal Mohammad.2015. Lembaga Keuangan Islam Tinjauan Teoritis Dan Praktis. Jakarta: Kencana.Hunger, J. David dan Thomas L. Wheelen. 2003. Manajemen Stratregis Edisi II. Jakarta: Gramedia Pustaka Utama.Jauch, R.L. & Glueck, F.W.2004. Strategic Managementand Business Policy. New York: McGraw-Hill.Kasmir.2008. Bank dan Lembaga Keuangan Lainnya.Jakarta: PT Raja Grafindo PersadaKasmir.2012.Manajemen Perbankan. Jakarta: PT Grafindo Persada.Kementerian Agama Republik Indonesia. (Online). (https://jatim.kemenag.go.id diakses pada 25 Maret 2019).Moleong, Lexy J. 2001. Metodologi Penelitian Kualitatif. Bandung: Remaja Rosdakarya.Obsessionnews. (Online). (www.obsessionnews.com diakses pada tanggal 10 Oktober 2018)Peraturan Menteri Negara Koperasi Dan Usaha Kecil Dan Menengah Republik Indonesia Nomor : 35.3/Per/M.KUKM/X/2007Praya, Lintang Gigih Abi.2017.Analisis Kinerja Keuangan Koperasi Simpan Pinjam Dan Pembiayaan Syariah Bmt Dana Insani Wonosari Tahun 2013-2015.Jurnal Pendidikan dan Ekonomi, Volume 6, Nomor 6, Tahun 2017Rahmawati, Rafika.2015. Strategi Peningkatan Efisiensi Biaya Pada Bank Umum Syariah Berbasis Stochastic Frontier Approach Dan Data Envelopment Analysis. Buletin Ekonomi Moneter dan Perbankan, Volume 17, Nomor 4. Bogor : Pascasarjana Institut Pertanian BogorRidwan, Muhammad. 2005. Manajemen Baitul Maal Wat Tamwil (BMT). Yogyakarta: UII Press.Republik Indonesia. (2012). Undang-Undang Republik Indonesia Nomor: 17 Tahun 2012 Tentang Perkoperasian. Jakarta: Sekretariat Negara Republik Indonesia.Sudarsono, Heri.2007. Bank dan Lembaga Keungan Syariah. Yogyakarta: EkonisiaSoemitra, Andri. 2009. Bank dan Lembaga Keuangan Syariah. Jakarta: Kencana.Shihab, M. Quraish. 2002. Tafsir Al-Mishbah: Pesan, Kesan dan Keserasian Al-Qur’an. Vol. 7. Jakarta: Lentera Hati.Ummah, Rohmatul.2010. Pengaruh Efisiensi Operasional Dengan Kinerja Kinerja keuangan Pada Sector Perbankan Syariah(Studi Kasus Bank Syariah Mandiri, Tbk).Skripsis UIN Syarif Hidayatullah JakartaWawancaraYin, R. K.1996. Studi kasus: Desain dan Metode. Jakarta: PT. Raja Grafindo._______.2015. Studi kasus: Desain dan Metode. Jakarta: PT. Raja Grafindo.Yuliani. 2007. “Hubungan Efisiensi Operasional dengan Kinerja Profitabilitas Pada Sektor Perbankan yang Go Publik di Bursa Efek Jakarta”. Jurnal Manajemen Bisnis Sriwijaya.Vol. 5. No. 10 : 15-43.
Pengaruh Risiko Sistematis, Market Timing, dan Ukuran Dana Terhadap Kinerja Reksa Dana Pendapatan Tetap Syariah di Indonesia (Periode 2014-2018) Febrita Kusumastiti; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 6 No. 12 (2019): Desember-2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol6iss201912pp2409-2421

Abstract

The purpose of this study is to determine the effect of the systematic of risk, market timing, and fund size toward sharia fixed income mutual funds in Indonesia period 2014-2018 partially and simultaneously. This research uses a quantitative approach and uses multiple linear regression tests to determine the relationship between exogenous variables and endogenous variable. The result of this research shows that systematic risk and fund size are partially have significant influence to the sharia fixed income mutual funds performance. Meanwhile, market timing is partially have insignificant influence to the sharia fixed income mutual funds performance. While simultaneously, systematic risk, market timing and fund size have significant influence to the sharia fixed income mutual funds performance with the coefficient of determination is 31,9% while the remaining 68,1% is influenced by other variables not included in this research.Keywords: Sharia Mutual Fund Performance, Systematic Risk, Market Timing, Fund Size
THE DIFFERENCE OF ABNORMAL RETURNS BETWEEN BEFORE AND AFTER THE FRIDAY EFFECT IN THE INDONESIA STOCK EXCHANGE (EVENT STUDY OF CONSUMPTION SECTOR COMPANIES IN JAKARTA ISLAMIC INDEX IN 2018 Dewi Astuti; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 6 (2020): Juni-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20206pp1018-1024

Abstract

Friday effect is a form of a market anomaly (deviation) that is contrary to the efficiency market, marked by high stock returns on Friday. The Friday effect phenomenon is an event or strategy which, if predictable, will be used by investors to get more profit (abnormal profit). This study aims to look at the effect of the Friday effect on abnormal returns in the consumption sector companies in the Jakarta Islamic Index (JII) in 2018, which is shown by whether there are differences in abnormal returns before and after Friday. The approach used in this study is a quantitative approach and testing the hypotheses that have been set. The method used is event study, with an observation period of 9 days, namely t - 4 (4 days before Friday), t = 0 (on Friday / event date) and, t + 4 (4 days after Friday). Hypothesis testing uses paired samples t-tests. The results of this study are based on these statistical tests with a significant level (α) = 0.05 producing a probability value of 0.784. This means that there is no difference in abnormal returns before and after Friday trading.Keywords: Friday Effect, Abnormal return, event study, Efficient Market, Jakarta Islamic Index (JII)REFFERENCE Fakhruddin, T. D. (2011). Pasar modal di Indonesia. Jakarta: Salemba Empat.Gumanti, T. A. (2011). Manajemen investasi: Konsep, teori dan aplikasi. Jakarta: Mitra Wacana Media.Lestari, W. R. (2011). Pengaruh weekend effect terhadap return saham di Bursa Efek Indonesia. Jurnal manajemen dan Keuangan, 9(1), 31-41.Luhgiatno. (2011). Analisis weekend effect terhadap return saham di Bursa Efek Indonesia. Fokus Ekonomi, 7(1), 2-3. DOI: https://doi.org/10.34152/fe.7.1.%25pSutedi, A. (2011). Pasar modal syariah: Sarana investasi keuangan berdasarkan prinship syariah. Jakarta: Sinar Grafika.
THE SYSTEM OF JOINT RESPONSIBILITY IN ASSAKINAH COOPERATIVE AS THE IMPLEMENTATION OF TA'AWUN Ainaul Mardliyyah; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 2 (2020): Februari-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20202pp254-268

Abstract

This research aims to determine how the application of ta'awun in the joint responsibility system in the Assakinah cooperative. The method used in this research is a qualitative approach with a case study method. The object of this research is the Assakinah cooperative in Sidoarjo. Data was collected by interviewing five informants, namely, head of the cooperative, the secretary, treasurer, group assistant and group leader. The results of this research indicate that the implementation of the joint responsibility system that exists in Assakinah cooperatives is in accordance with two Islamic teachings, namely, musyawarah or mufakat and mutual cooperation. However, the joint responsibility system that exists in Assakinah cooperatives is not yet fully joint responsibility. This is because in practice, members that are unable to pay their debts, not always getting help from the group.Keywords: Ta’awun, sharia cooperative, Joint Liability, joint responsibility.REFFERENCE Ajija, Shochrul Rohmatul, dkk. (2018). Koperasi BMT teori, aplikasi dan inovasi. Karanganyar: CV Inti Media Komunika.Buchori, Nur S. (2012). Koperasi syari’ah teori dan praktik. Banten: Pustaka Aufa Media.Ismail, Iriani. (2011). Koperasi dan usaha mikro kecil menengah. Malang: Lembaga Penerbitan Fakultas Pertanian Universitas Brawijaya Jatman, Darmanto. dkk. (2001). Bunga rampai tanggung renteng. Malang: Limpad.K. Yin, Robert. (2011). Studi kasus: Desain dan metode. Jakarta: PT. RajaGrafindo Persada.K. Yin, Robert. (2015). Studi kasus: Desain dan metode. Jakarta: PT. RajaGrafindo Persada.Qomaro, Galuh Widitya dan Oktasari, Armyza. (2018). Manisfestasi konsep ta'awun dalam zaakwaarneming perspektif hukum perikatan. Jurnal Et-Tijarie, 5(1), 11-25.
DETERMINAN TERHADAP YIELD SUKUK RITEL NEGARA (STUDI TAHUN 2009 – 2017) Nida Laili Fitriyah; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 6 No. 9 (2019): September-2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol6iss20199pp1741-1755

Abstract

Retail Sukuk is one of the sukuk series of SBSN issued the first time in 2009 which is enough to attract public interest. The purpose of this study is to find out and analyze the effect of macro variables (inflation and GDP), profit sharing of mudharabah deposits and JII indices to the dependent variable that is the yield of government retail sukuk in the secondary market. This research is a quantitative research with multiple linear regression method that is processed using Eviews8 software.Keywords: Inflation, GDP, mudharabah deposit share, JII, Yield yield of government retail sukuk, SBSNREFFERENCESAl-Qur’annulqarimChtourou, Hassen. 2015. Analysis of the European Government Bonds and Debt after the European Financial Crisis. Journal of Centrum Cathedra: The Business and Economics Research Journal, Vol. 8 Issue: 2, pp.146-164.Dionisis Chionis, Ioannis Pragidis, Panagiotis Schizas. 2016. The determinants of Greek bond yields: an empirical study before and during the crisis. Journal of Economic Studies, Vol. 43 Issue: 3,pp.504-519.Fehmi.Hasan. 2003. Internasional government bond market : Determinants of yield and volatility linkages. Disertasi. Diterbitkan di Texas : The University of texas Arlington.Fikri, Arie. 2013. Analisis Faktor-Faktor Yang Mempengaruhi Tingkat Imbal Hasil Surat Utang Negara Pemerintah Republik Indonesia Dalam Valuta Asing. Jakarta: Universitas Indonesia (Skripsi tidak diterbitkan).Fitriyanti. 2014. Analisis Pengaruh Variabel Makroekonomi Terhadap Imbal Hasil Sukuk Negara Ritel di Indonesia ( Periode tahun 2011-2014 ). Skripsi diterbitkan Bogor : Institut Pertanian Bogor.Ghozali, imam. 2013. Aplikasi Analisis Multivariate dengan Program SPSS. Ed. 7.Semarang : Universitas DiponegoroGujarati, Damodar. 2013. Basic Econometrics. Terjemahan oleh Sumarmo Zain.Ekonometrika Dasar. Jakarta : Erlangga.Huda, Nurul, dan Mohammad Heykal. 2010. Lembaga Keuangan Islam Tinjauan teori dan praktis.Jakarta : Kencana.Huda, Nurul, dan Mustafa Edwin Nasution. 2007. Investasi Pada Pasar Modal Syariah. Jakarta: Kencana.Karim, Adiwarman. 2010. Ekonomi Makro Islam. Jakarta : Rajawali Pers.Khadiiqatul, Imam. 2012. Pengaruh Variabel Ekonomi Makro Pada Yield Surat Berharga Syariah Negara ( Studi Pada Sukuk Ritel Seri SR-001 ). Skripsi diterbitkan Jakarta : Universitas Indonesia.Linda, Ni Wayan dan Nyoman Abudanti. 2015. Variabel-variabel Yang Mempengaruhi Yield Obligasi Pada Perusahaan Yang Terdaftar Di Bursa Edek Indonesia. E-Juournal Manejemen Universitas Udayana vol. 4 no. 11.Mehmet Balcilar, Gozde Cerci, Riza Demirer. 2016. Is there a role for Islamic bonds in global diversification strategies?,Managerial Finance, Vol. 42 Issue: 7, pp.656-679.Melati, Arum. 2013.  Faktor-Faktor  yang  Mempengaruhi  tingkat  sewa  sukuk  Ijarah. Accounting  Analysis  Journal unnes.Rahman, Anang Aulia dan Sam’ani.2013. Analisis Faktor-Faktor Yang Mempengaruhi Yield Obligasi Negara Tahun 2010-2012.Jurnal Ekonomi Manajemen Akutansi No.35/Th xx/Oktober 2013.Rachmawati, Martien. 2015. Pengaruh Tingkat Inflasi, Suku Bunga SBI dan Nilai Tukar Rupiah Terhadap Harga Saham Pada Indonesia Syariah Stock Index (ISSI) Di Bursa Efek Indonesia. Skripsi diterbitkan Surabaya : Univestitas Airlangga.Rivai, Viethzal. 2010. Islamic Banking : sebuah teori, konsep dan aplikasi. Jakarta : Bumi Aksara.Santoso, Singgih. 2000. Latihan SPSS statistic parametrik.Jakarta : Gramedia.Samuelson, et al. 2004.Ilmu Makro Ekonomi (terjemahan). Jakarta : PT Media Global Edukasi.Saputra, Tiyas Adrian. 2013. Analisis Faktor-Faktor Yang Mempengaruhi Yield Obligasi Konvensional Indonesia (studi kasus pada perusahaan listed di BEI). Skripsi diterbitkan Semarang: Universitas Diponegoro. Shihab, M. Quraish. 2009. Tafsir Al-Misbah (Pesan, Kesan dan Keserasiaan Al-Quran) Vol.15. Jakarta : Lentera hati.Sudarsono Heri. 2004. Bank Dan Lembaga Keuangan Syariah.  Yogyakarta: Ekonisia.Sugiyono. 2012. Metode Penelitian Kuantitatif Kualitatif dan R&D. Bandung: Alfabeta.Sutedi, Adrian. 2011. Pasar Modal Syariah. Jakarta: Sinar Grafika.Syauqi, Irfan dan Sri Wulan Fatmawati. 2014. Pengaruh Indeks Harga Saham Syariah Internasional dan Variabel Makro Ekonomi Terhadap Jakarta Islamic Index. Jurnal Al-Iqtishadi Vol. VI No. 2Tandelilin, Eduardus. 2010. Portofolio dan Investasi : Teori dan Aplikasi.Tim pengembangan perbankan syariah institute banker Indonesia. 2003. Bank syariah: Konsep, produk dan implementasi operasional. Jakarta: Djambatan.Wiroso, 2005.Penghimpunan Dana Dan Distribusi Hasil Usaha Bank Syariah. Jakarta: GrasindoYuliana, Indah. 2010. Investasi Produk Keuangan Syariah. Malang: UIN-MALIKI press.
MANAJEMEN RISIKO OPERASIONAL PADA LEMBAGA AMIL ZAKAT NASIONAL Muhammad Fitrahuddin Ajmal Nazir; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 6 No. 11 (2019): November-2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol6iss201911pp2236-2251

Abstract

The purpose of this study is to know how the national zakat institution manage their operational risk. Things that needs to be reviewed in the operational risk management based on the phenomenon that occurs in the research objects. The objects of this research is three national zakat institution with head office in Surabaya, which three national zakat institution is Yatim Mandiri, Nurul Hayat and YDSF. This research uses qualitative method with case study approach. After the interview, the results of the study were analyzed using descriptive data analysis techniques. The results of research conducted by researchers to three respondents, that operational risk management already performed by three national zakat institution based on their own way. There are 14 risks that identified. How the national zakat institution manage their risks depends on experiences of each national zakat institution itself.Keywords: Risk, Zakat, Operational Risk Management, National Zakat Institution
THE DETERMINANTS OF PERFORMANCE OF SHARIA EQUITY MUTUAL FUNDS Meidiana Rizki Adelia; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 5 (2020): Mei-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20205pp940-954

Abstract

There are a lot of factors that determine the sharia equity mutual funds performance, included stock selection skill, market timing ability, and fund age. This study aims to understand the effect of stock selection skill, market timing ability, and fund age on the sharia equity mutual funds performance in Indonesia from 2012 to 2018. This research uses a quantitative approach using an explanatory research type. The sampling technique in this study was purposive sampling and 6 sharia equity mutual funds were selected as samples. This study uses multiple linear regression analysis. The result of the study displayed that stock selection skill and market timing ability have a significant effect on the performance of sharia equity mutual funds in Indonesia from 2012 to 2018. On the contrary, fund age have no effect on the performance of sharia equity mutual funds in Indonesia from 2012 to 2018. Keywords: stock selection skill, market timing ability, fund age, sharia equity mutual funds perfomanceREFFERENCE Abdalloh, I. (2018). Pasar modalsyariah. Jakarta: Elex MediaKomputindo.Andriani, L. F., & Mawardi, W.(2018). Analisispengaruh stockselection skill,market timingability, total assetdan expenseratio terhadap kinerjareksa dana syari'ah di IndonesiaPeriode 2013 - 2016. DiponegoroJournal of Accounting, 7(4), 1-10.Anjani, B. B., (2012) Analisis faktor-faktoryang berpengaruh terhadapkeputusan investasi padaperusahaan food and beveragesdi Bursa Efek Indonesia.Diponegoro Journal of Accounting,8(5), 1-15.Bank Indonesia. Tingkat imbal hasilSertifikat Bank IndonesiaSyariah (SBIS).Diakses melaluiwww.bi.go.idtanggal 17Desember 2019Az-Zuhaili, W. (1997). Al-fiqh al-islami waadillatuhu, juz 4. Damaskus: Dar AlFikr.Darmadji, T., & Fakhruddin, H. M. (2001).Pasar modal di Indonesia:Pendekatan tanya jawab. Jakarta: SalembaEmpat.Departemen Agama, R. I. (2010). Alqur’andan tafsirnya. Jakarta:LenteraAbadi.Ghozali, I. (2012). Aplikasi analisismultivariatdengan programIBM SPSS 20, edisikeenam. Semarang: UniversitasDiponegoro.Gregory, A., J. Matatko dan R. Luther. (1997). Etchical unit trust financialperformance: Small companyeffect and fund size effect. Journal of Bussiness FinanceandAccounting 24(5), 705-725.Hamzah, A., & Yohanes, A. (2014). Analisisperbandingan kinerja reksa danasyariah dengan reksa danakonvensional jenis saham padaperiode 2008-2012. MIX: JurnalIlmiah Manajemen, 4(3), 396-409.Hasbi, Hariandy. 2010. Kinerja reksadanasyariah tahun 2009 diIndonesia. Jurnal Keuangan danPerbankan, 14(1), 62-73.Hidayat, Taufik, S. E., & Si, M. (2011). Bukupintar investasi syariah. Jakarta:Mediakita.Indrawati, U., & Wahono, B. (2017).Pengaruh market timing dan stockselection terhadap kinerja reksadana di indonesia (studi kasuspada reksa dana saham periode2013-2015). Jurnal Ilmiah Riset Manajemen, 6(4), 101-113.Jakarta Islamic Index. Index Bulanan JII(Jakarta Islamic Index). Diaksesmelaluiwww.finance.yahoo.comtanggal 15 Desember 2019 Nguyen, A.-N., Shahid, M. S., & Kernohan,D.(2018). Investor confidenceandmutual fund performance inemerging markets: InsightsfromIndia and Pakistan. Journal ofEconomic Studies, 45(6), 1288-1310.Otoritas Jasa Keuangan. (2019). Laporanperkembangan pasar modalsyariah tahun 2018. Jakarta:Otoritas Jasa Keuangan._______. (2019). Statistikreksadana syariah desembertahun 2018. Jakarta: Otoritas JasaKeuangan._______. (2019). PeraturanOtoritas Jasa Keuangan Nomor19/POJK.4/2015 Pasal 21 tentangPenerbitan dan Persyaratantentang Reksa Dana Syariah_______. (2017). PeraturanOtoritas Jasa Keuangan Nomor35/POJK.04/2017 Pasal 2 tentangEfek dan Kriteria dalam Daftar EfekSyariah. Jakarta: Otoritas JasaKeuangan._______. Nilai Aktiva Bersih(NAB) Reksadana Syariah. Diaksesmelalui www.reksadana.ojk.go.idtanggal 20 Desember 2019Rachmah, D. A., & Juniar, A. (2018).Analisispengaruh stock selectionskill,market timing ability, danfundlongevity terhadap kinerjareksadana saham syariah.Jurnal SainsManajemenKewirausahaan, 2(1),61–69.Rahardja, P., & Manurung, M. (2008). Teoriekonomi makro: Suatu pengantar,edisi keempat. Buku Seri TeoriEkonomi. Jakarta: Lembaga PenerbitFakultas Ekonomi UniversitasIndonesia. Robertson, G. (2002). Review Kinerja.Lokakarya Revie Kinerja. BPKP danExecutive Education, 47.Ryandono, Muhammad Nafik Hadi. (2009). Bursa efek daninvestasi syariah. Jakarta: SerambiIlmu Semesta.Sabila, F. H. (2019). Stock selection danmarket timing ability reksa danasyariah saham di Indonesia. Journalof Economic, Public, andAccounting (JEPA),1(2), 68–81.Sari, A. P. N., & Purwanto, A. (2012). Analisiskebijakan alokasiaset, kinerjamanajer investasidan tingkat risiko terhadapkinerja reksadana saham diIndonesia. Diponegoro Journal ofAccounting, 1(1) : 1-14. Sari, M. M., Mulyati, S., & Widarwati, E.(2019). Pengaruh stock selectionskill, market timing ability, turnoverratio dan cash flow terhadapkinerja reksa dana syariah.TSARWATICA (Islamic Economic,Accounting, and ManagementJournal), 1(01), 45–55.Satrio, Y., & Mahfud, M. K. (2016). Analisispengaruh total asset, fund age,expense ratio, dan portofolioturnover terhadap kinerja reksadana periode 2012-2014.Diponegoro Journal of Accounting,5(2) : 1-9.Syahid, N., & Arfinto, E. D. (2015). Analisispengaruh stock selection skill,market timing ability, fundlongevity, fund cash flow danfund size terhadap kinerja reksadana (studi kasus: reksadanasaham periode tahun2010-2014).Diponegoro Journal of Accounting,4(4) : 1-11.Syekh, B. H. H. A., & Halim, A. (2006). Tafsiral-ahkam. Jakarta: KencanaPrenada Media Group.Tandelilin, E. (2010). Portofolio dan iInvestasi:Teori dan aplikasi. Yogyakarta: Kanisius.Tversky, A., & Kahneman, D. (1979).Prospect theory: An analysis ofdecision underrisk. Econometrica,47(2), 263-291.Virlics, A. (2013). Investment decisionmaking and risk. ProcediaEconomics andFinance, 6,169-177.Waelan, W. (2008). Kemampuan memilihsaham dan market timing manajerinvestasi reksa dana saham diBursa Efek Indonesia. IndonesianJournal of Accounting andAuditing, 12(2), 167-176.Winingrum, E. P., & Pangestuti, I. R. D.(2011). Analisis stock selection skills,market timing ability, size reksadana, umur reksa dana danexpense ratioterhadap kinerjareksa dana saham yang terdaftardi Bursa Efek Indonesiaperiode Tahun 2006-2010. Skripsi tidak diterbitkan. Semarang: Universitas Diponegoro.
THE DETERMINANTS OF MARKET VALUE OF SYARIAH STOCKS IN JAKARTA ISLAMIC INDEX (JII) Raisya Nada Salsabila; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 8 (2020): Agustus-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20208pp1552-1565

Abstract

The goals of this scientific report are to understand determinants of stocks’ market value on Jakarta Islamic Index (JII). Determinants used in this study including cash flow statements, financial ratios, and firm size. This study used quantitative approach which is explanatory research with data panel regression method. Data used in this study is secondary data, which collected from firms annual reports during scientific periods. Populations in this study are Jakarta Islamic Index 30 (JII 30) emitents on 2014-2018 and samples are 15 firms chosen through purposive sampling methods. The results from this study are, cash flow from operating activities, cash flow from investing activities, cash flow from financing activities, profitability ratio, leverage ratio, liquidity ratio, and firm size have a significant effect on firm value (prob. 0.0000), simultanously. Partially, cash flow from operating activities, cash flow from financing activities, liquidity ratio, and firm size has a negative significant effect on firm value, while cash flow from investing activities, profitability ratio, and leverage ratio has a positive significant effect on firm value. Keywords: Price-to-Book Value (PBV), Cash flow statements, Financial ratios, Firm Size, Jakarta Islamic Index (JII)
THE REACTION OF INDONESIAN CAPITAL MARKET REACTION ON CORPORATE SUKUK ISSUANCE Dian Ayu Firtanasari; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 11 (2020): November-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss202011pp2221-2235

Abstract

ABSTRAKPenelitian ini bertujuan untuk mengetahui reaksi pasar terhadap pengumuman penerbitan sukuk yang diukur dengan average abnoramal return dan average trading volume activity. Penelitian ini menggunakan pendekatan kuantitatif dengan menggunakan jenis penelitian event study. Populasi dalam penelitian ini adalah seluruh pengumuman penerbitan sukuk korporasi yang terdaftar di Bursa Efek Indonesia periode 2017-2020. Teknik pengambilan sampel dalam penelitian ini adalah purposive sampling yang kemudian diperoleh 17 tanggal pengumuman dari 8 perusahaan penerbit sukuk korporasi. Metode analisis yang digunakan dalam penelitian ini adalah one sample t-test dan paired sample t-test. Hasil penelitian ini adalah terdapat abnormal return negatif signifikan pada t-4 yang berarti terdapat reaksi pasar namun terdapat respon negatif dari investor, kemudian pada t-1,t-2,t-5,t+1,t+2,t+4, dan t+5 menunjukkan hasil negatif tidak signifikan yang berarti tidak terdapat reaksi pasar dan tidak ada respon baik dari investor. Pada t-3,t-0,t+2 dan t+3 yang menunjukkan hasil positif tidak signifikan yang berarti tidak terdapat reaksi pasar tetapi terdapat respon positif dari investor. Namun tidak terdapat perbedaan average abnormal return sebelum maupun sesudah penerbitan sukuk. Hasil juga menunjukkan terdapat trading volume activity positif signifikan pada t-2,t-3,t-4,t-5 dan t+2,t+3,t+4,t+5. Hal itu menandakan bahwa terdapat transaksi pembelian saham disekitar tanggal pengumuman penerbitan sukuk yang berarti terdapat respon positif dari para investor. Namun tidak terdapat perbedaan average trading volume activity sebelum maupun sesudah pengumuman penerbitan sukuk. Kata kunci: Reaksi Pasar, Event Study, Abnormal Return, Trading Volume Activity ABSTRACTThis study aims to determine the market reaction to the announcement of Sukuk issuance as measured by abnormal returns and trading volume activities. This research used a quantitative approach by using the type of event study research. The populations in this study were all announcements published on the Indonesia Stock Exchange for the 2017-2020 period. The sampling technique in this study was purposive sampling then obtained 17 of announcement dates from 8 corporate Sukuk issuing companies. The analytical method used in this study was a One-Sample t-test and Paired Sample t-test. The results of this study are there are significant negative abnormal returns on t-4, which means there is a market reaction but there is a negative response from investors, then at t-1, t-2, t-5, t+1, t+2, t+4, and t+5 show insignificant negative results, which means there is no market reaction and there is no good response from investors. Positive responses occur at t-3, t + 2, and t+3, which show insignificant positive results which means there is no market reaction but there is a positive response from investors. But there is no difference in the average abnormal returns before or after the Sukuk issuance. The results also show there is a significant positive trading volume activity on t-2, t-3, t-4, t-5 and t + 2, t + 3, t + 4, t + 5. This indicates that there were stock purchase transactions around the date of the announcement of the Sukuk issuance, which means there is a positive response from investors. But there is no difference in average trading volume activity before or after the announcement of the Sukuk issuance.  Keywords: Market Reaction, Event Study, Abnormal Return, Trading Volume Activity
Does Environmental Disclosure, Environmental Performance, and Financial Performance Impact the Stock Prices? Evidence from Issuers in Jakarta Islamic Index Shinta Sunja Prastika; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 9 No. 2 (2022): Maret-2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol9iss20222pp252-259

Abstract

ABSTRAK Manusia, hewan, maupun tumbuhan sangat bergantung kepada lingkungan hidup. Sudah menjadi kewajiban manusia untuk menjaga kelestarian lingkungan mengingat peran penting lingkungan bagi kehidupan. Dalam proses menjaga kelestarian lingkungan dipengaruhi oleh berbagai faktor yang mendorong maupun menghambat. Salah satu faktor yang menjadi penghambat kelestarian lingkungan adalah aktivitas perusahaan. Tujuan dari pada penelitian ini adalah mengetahui apakah terdapat pengaruh antara pengungkapan lingkungan, kinerja lingkungan, dan kinerja keuangan terhadap harga saham. Variabel independen yang digunakan dalam penelitian ini adalah pengungkapan lingkungan, kinerja lingkungan, dan kinerja keuangan. Sementara variabel dependennya yakni harga saham. Pendekatan yang dipilih dalam penelitian ini adalah kuantitatif dengan menggunakan teknik regresi data panel. Sampel yang digunakan sebanyak 9 emiten terdaftar di Jakarta Islamic Index dan PROPER periode 2015-2019. Hasil penelitian menyatakan bahwasanya pengungkapan lingkungan dan kinerja lingkungan berpengaruh positif tidak signifikan terhadap harga saham. Sedangkan kinerja keuangan berpengaruh positif signifikan terhadap harga saham. Kata Kunci: Pengungkapan lingkungan, Kinerja lingkungan, Kinerja keuangan, Harga saham.   ABSTRACT Humans, animals, and plants are very dependent on the environment. It has become a human obligation to preserve the environment considering the important role of the environment in life. The process of preserving the environment is influenced by various encouraging and inhibiting factors. One of the factors that hinder environmental sustainability is the company's activities. The purpose of this study is to determine whether there is an influence between environmental disclosure, environmental performance, and financial performance on stock prices. The independent variables used in this study are environmental disclosure, environmental performance, and financial performance. While the dependent variable is the stock price. The approach chosen in this study is quantitative using panel data regression techniques. The sample used is 9 companies listed in the Jakarta Islamic Index and PROPER for the 2015-2019 period. The results of the study stated that environmental disclosure and environmental performance had no significant positive effect on stock prices. While financial performance has a significant positive effect on stock prices. Keywords: Environmental disclosures, Environmental performance, Financial performance, Stock prices.   DAFTAR PUSTAKA AirVisual. (2019). Kota dengan polusi udara tertinggi dan kualitas udara terburuk di dunia. Retrieved from https://www.iqair.com/id/world-air-quality-ranking Al-Tuwaijri, S. A., Christensen, T. E., & Hughes, K. E. (2005). The Relations Among Environmental Disclosure, Environmental Performance, and Economic Performance: A Simultaneous Equations Approach. SSRN Electronic Journal, August. https://doi.org/10.2139/ssrn.405643 Dowling, J., & Pfeffer, J. (1975). Pacific Sociological Association Organizational Legitimacy: Social Values and Organizational Behavior. Source: The Pacific Sociological Review, 18(1), 122–136. Gita Indah Dewi Fortuna, N. M., & Putra, I. N. W. A. (2020). Pengaruh Kinerja Lingkungan, Pengungkapan Informasi Lingkungan, dan Good Corporate Governance pada Harga Saham Perusahaan. E-Jurnal Akuntansi, 30(4), 1019. https://doi.org/10.24843/eja.2020.v30.i04.p18 Haniffa, R. (2002). Social Responsibility Disclosure: An Islamic Perspective. Indonesian Management and Accounting Research, 1, 128–146. Kementerian Agama RI. (2019). Al-qur'an dan terjemahannya. Jakarta: Kemenag RI. Kurnia, P., Darlis, E., & Putra, A. A. (2020). Carbon emission disclosure, good corporate governance, financial performance, and firm value. Journal of Asian Finance, Economics and Business, 7(12), 223–231. https://doi.org/10.13106/jafeb.2020.vol7.no12.223 Laplume, A. O., Sonpar, K., & Litz, R. A. (2008). Stakeholder theory: Reviewing a theory that moves us. Journal of Management, 34(6), 1152-1189. https://doi.org/10.1177/0149206308324322 Monteiro, S. M. da S., & Aibar-Guzmán, B. (2010). Determinants of environmental disclosure in the annual reports of large companies operating in Portugal. Corporate Social Responsibility and Environmental Management, 17(4), 185–204. https://doi.org/10.1002/csr.197 Preston, L. E., & Post, J. E. (1981). Private management and public policy. California Management Review, 23(3), 56–62. https://doi.org/10.2307/41172602 Rusmita, S. A., Syafira, F. N., & Afifa, O. M. (2020). The effect of environmental disclosures on ISSI company stock prices. International Journal of Innovation, Creativity and Change, 10(12), 488–501. Wilmshurst, T., & Frost, G. (2000). Corporate environmental reporting: A test of legitimacy theory. Accounting, Auditing & Accountability Journal, 13, 10–26. https://doi.org/10.1108/09513570010316126 Wolk, H., Dodd, J., & Rozycki, J. (2017). Accounting theory: Conceptual issues in a political and economic environment. London: SAGE.
Co-Authors & Ari Prasetio A Syifaul Qulub Abdul Aziz, Azreen Hamiza Abdus Sami Achmad Fadlil Abidillah Achsania Hendratmi Aditya Kusuma Ahmad Ajib Ridlwan Ahmad Kamil Ainaul Mardliyyah Akhmad Firdaus Rostyanta Akmalur Rijal Ali, Mohammad Mahbubi Alvin Sugeng Prasetyo Ana Toni Roby Candra Yudha Ana Toni Roby Candra Yudha Anik Rufaidah Ardian Dwi Bagus S Ari Prasetyo Asya’bani, Nispia Azhar Alam Azwar Anas Bagus Mohamad Ramadhan Bashlul Hazami candra yudha, ana tony roby Citra Aisya Madania Citra Rahayu Indraswari Dewi Astuti Dian Ayu Firtanasari Dja’akum, Cita Sary Dk Hjh Saerah Pg Hj Petra Dk Hjh Saerah Pg Hj Petra Dyah Palupi Dwi Cahyani Eko Fajar Cahyono, David Kaluge Elicha Pusparini Elsha Sophia Erika Takidah Evan Yoga Adhi Sakti Fahmi Abdullah Faid Arinal Firdaus Fathimatuz Zahroh Febrita Kusumastiti Filianti, Dian Firmansyah Putra Gandhi Satrya Kumajaya Hanesti, Elsi Mersilia Hanif Ardiansyah Henry Reza Novianto Heppy Prasetyo Pradhana Holyness Nurdin Singadimedja Ida Wijayanti Ida Wijayanti Ida Wijayanti Ida Wijayanti Imron Mawardi Inayatul Fitria Saputri Insani, Taqiyah Dinda Irham Zaki Jazilinni’am, Naili Kasanah, Roisatun Khea Miyagi Kumara Adji Kusuma Kusumaningtyas, Menur Lutfia Inggriani Marhanum Che Mohd Salleh Marhanum Che Mohd Salleh, Marhanum Che Marwini Marwini Maryani, Anny Meidiana Rizki Adelia Mi'raj, Denizar Abdurrahman Misbahul Munir Misbahul Munir Mochammad Nuril Misbach Mochammad Nuril Misbach Mohammad Razan Mahrani Muhammad Afthon Ashar Muhammad Akbar Rafdison Muhammad Ala’uddin Muhammad Choirul Ichwan Muhammad Fitrahuddin Ajmal Nazir Mursyidi, Ach Fatayillah Nida Laili Fitriyah Ninda Ardiani Nur Puji Rohmawati Pantas, Pribawa E Petra, Dk Hjh Saerah Pg Hj Pribawa E Pantas Puji Sukmaningrum Purnomo Adji Qonitah Bakhitah Qulub, A. Syifaul R. Moh. Qudsi Fauzy, R. Moh. Qudsi Raditya Sukmana Rahmawati, Estina Raisya Nada Salsabila Ramadhanty, Rifka Putri Rani, Lina Nugraha Rembrant Shella Gustami Rendri Pratama Wahyu Priandhika Rifki Satriyo Aji Ririn Tri Ratnasari Rofiul Wahyudi Romadzuhri Nurbanatra Rosa Prafitri Juniarti Rusgianto, Sulistya Rusmita, Sylva Alif Salsabiilatul Ayniah K. S. Sesha Ayu Permatasari Shabrina Anwari Shafira Sa’adah Syauqiyah Shinta Sunja Prastika Siti Mujibatun Siti Nur Indah Rofiqoh Sri Herianingrum Sri Herianingrum Susanto, Arva Athallah Taqiyah Dinda Insani Taqiyah Dinda Insani Tika Widiastuti Tika Widiastuti Tjiptohadi Sawarjuwono Wahyudi, Rofiul Wardhana, Akhmad Kusuma Widita Kurniasari WIDITA KURNIASARI, WIDITA Widyadhana, Rafi Wijayanti, Ida Yan Putra Timur Zakik, - Ziauddin Sardar Zulfa Mufidah