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DETERMINANTS OF PROFITABILITY OF ISLAMIC INSURANCE COMPANIES IN INDONESIA Alifia Riza Azhari; Puji Sucia Sukmaningrum
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 8 No. 4 (2021): Juli-2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol8iss20214pp426-438

Abstract

ABSTRAKTujuan dari penelitian ini adalah untuk mengetahui hubungan company size, premium growth, investment, risk based capital, volume of capital, dan claim expense terhadap profitabilitas asuransi syariah di Indonesia. Pendekatan penelitian yang digunakan adalah kuantitatif dengan metode analisis meta. Penelitian ini menggunakan dua belas artikel sampel yang diterbitkan di Indonesia melalui Sinta Journal dan Google Scholar dengan periode empat tahun (2017-2020). Penelitian ini menunjukkan bahwa company size, premium growth, investment, dan volume of capital berpengaruh signifikan terhadap profitabilitas. Sementara itu risk based capital dan claim expense tidak memiliki pengaruh signifikan terhadap profitabilitas perusahaan asuransi syariah. Temuan dari penelitian ini memberikan implikasi bahwa perusahaan asuransi syariah perlu memperhatikan aspek company size, premium growth, investment, dan volume of capital serta dapat mempertimbangkan nilai risk based capital dan claim expense dalam mendukung peningkatan profitabilitas perusahaan sehingga kinerja perusahaan asuransi syariah di Indonesia menjadi lebih baik.Kata Kunci: Profitabilitas, Asuransi Syariah, Analisis Meta, Indonesia. ABSTRACTThe purpose of this study is to determine the relationship between company size, premium growth, investment, risk based capital, volume of capital, and claim expense on the profitability of Islamic insurance in Indonesia. This research applies a quantitative approach with meta-analysis methods. This study used twelve sample articles published in Indonesia through Sinta Journal and Google Scholar during the 2017-2020 period. This study shows that company size, premium growth, investment, and volume of capital have significant effect on profitability. Meanwhile, risk based capital and claim expense do not have significant effect on the profitability of Islamic insurance companies. The findings of this study imply that Islamic insurance companies in Indonesia need to pay attention to aspects of company size, premium growth, investment, and volume of capital and can consider the value of risk based capital and claim expenses in supporting the increase in company profitability so that the performance of Islamic insurance companies in Indonesia is better.Keywords: Profitability, Islamic Insurance, Meta-Analysis, Indonesia.DAFTAR PUSTAKAAgustina, D. R. (2016). Penerapan akad mudharabah pada produk takaful dana pendidikan (FULNADI) asuransi takaful keluarga cabang Palembang. Palembang: UIN Raden Fatah.Ahmad, G. N., & Prasetyo, R. P. (2018). Profitability analysis of non-life insurance: Case in Indonesia stock exchange. International Conference on Islamic Finance, Economics, and Business (ICIFEB), 335–350. https://doi.org/10.18502/kss.v3i8.2518Aremu, D. M. A., Ekpo, I. C., Mustapha, D. A. M., & Adedoyin, D. S. I. (2013). Determinants of capital structure in Nigerian banking sector. International Journal of Academic Research in Economics and Management Sciences, 2(4). https://doi.org/10.6007/IJAREMS/v2-i4/50Devinney, T. M., & Tang, R. W. (2013). Do we really understand a research topic? Finding answers through meta-analysis. Advances in International Management, 26(1985), 239–262. https://doi.org/10.1108/S1571-5027(2013)0000026015Dzaki, N. A. (2020). Pengaruh premi, investasi, klaim, dan underwriting terhadap profitabilitas perusahaan asuransi jiwa syariah di indonesia tahun 2014-2018. Jurnal Ilmiah Mahasiswa FEB, 9(1), 1–13.Emiruzzaman, R. M. (2019). Analisis faktor-faktor yang mempengaruhi profitabilitas perusahaan asuransi syariah di Indonesia periode 2013-2017. Skripsi tidak dipublikasikan. Malang: Universitas Brawijaya.Faoziyyah, A. A., & Laila, N. (2020). Faktor internal dan faktor makroekonomi yang mempengaruhi profitabilitas asuransi syariah di Indonesia periode 2016-2018. Jurnal Ekonomi Syariah Teori dan Terapan, 7(6), 1146–1163. https://doi.org/10.20473/vol7iss20206pp1146-1163Guendouz, A. A., & Ouassaf, S. (2018). Determinants of Saudi takaful insurance companies profitability. Academy of Accounting and Financial Studies Journal, 22(5), 1–25.Hernawaty., & Fadly, Y. (2019). The study of halal insurance. International Halal Conference & Exhibition, 242–251.Hidayati, A. A., & Shofawati, A. (2018). Determinan kinerja keuangan asuransi syariah di Indonesia periode 2014-2016. Jurnal Ekonomi Syariah Teori dan Terapan, 5(11), 889–904.Hindardjo, A., & Mansuri. (2016). Pengaruh dana tabarru’ dan klaim terhadap profitabilitas pada perusahaan asuransi PT. Prudential unit syariah periode 2011 – 2015. Jurnal Asy- Syukriyyah, 17, 84–103.Hodori, A., & Masih, M. (2017). Determinants of profitability of takaful operators: New evidence from Malaysia Based on dynamic GMM approach. Munich Personal RePEc Archive, 79441, 24.Ikaprilia, A. (2018). Pengaruh pendapatan premi, underwriting, dan solvabilitas terhadap profitabilitas pada perusahaan asuransi jiwa syariah yang terdaftar di BEI tahun 2013-2016. Skripsi tidak dipublikasikan. Surakarta: Institut Agama Islam Negeri Surakarta.Komite Nasional Ekonomi dan Keuangan Syariah. (2020). Asuransi syariah capai pertumbuhan produktif 2020. In Insight: Buletin Ekonomi Syariah (Issue 9).Malik, H. (2011). Determinants of insurance companies profitability: An analysis of insurance sector of Pakistan. Academic Research International, 1(3), 315–321.Maudina, G. A., Tanuatmodjo, H., & Cakhyaneu, A. (2020). Profitabilitas perusahaan asuransi jiwa syariah di Indonesia: Analisis hasil investasi, volume of capital, dan firm size. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan, Dan Akuntansi, 12(2), 267–286. https://doi.org/10.35313/ekspansi.v12i2.2202Muflikhah, N. (2018). Variabel penentu profitabilitas asuransi syariah di Indonesia. Skripsi tidak dipublikasikan. Jember: Universitas Jember.Nainggolan, L. M., & Soemitra, A. (2020). The contribution income, investment results, and claim expenses on sharia life insurance income. Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business), 6(2), 201–220. https://doi.org/10.20473/jebis.v6i2.21734Nataldy, C., & Pardede, R. P. (2019). Analisis perlakuan akuntansi atas pendapatan premi dan beban klaim sesuai PSAK no. 28 pada PT. Asuransi Astra Buana. Jurnal Ilmiah Akuntansi Kesatuan, 7(2), 258–265.Rafi, M., & Syaichu, M. (2019). Analisis faktor-faktor yang mempengaruhi profitabilitas perusahaan asuransi syariah tahun 2014-2017. Diponegoro Journal of Management, 8(2), 68–81. http://ejournal-s1.undip.ac.id/index.php/djomRahayu, D., & Mubarok, N. (2017). Pengaruh risk based capital terhadap profitabilitas perusahaan asuransi syariah (Studi pada perusahaan asuransi yang terdaftar di AASI). I-Economic, 3(2), 189–208.Safitri, E. K., & Suprayogi, N. (2017). Analisis rasio kesehatan keuangan dana tabarru’ yang mempengaruhi profitabilitas pada asuransi syariah di Indonesia (Periode 2012-2014). Jurnal Ekonomi Syariah Teori Dan Terapan, 4(1), 73–88.Salsabila, H. F. (2020). Rasio-rasio early warning system sebagai penentu profitabilitas perusahaan asuransi jiwa syariah di Indonesia periode 2014-2018. Skripsi tidak dipublikasikan. Surabaya: Universitas Airlangga.Santoso, R. N. F. (2019). Pengaruh company size, premium growth, asset growth, dan leverage terhadap profitabilitas asuransi syariah di Indonesia periode 2013-2017. Skripsi tidak dipublikasikan. Surabaya: Universitas Airlangga.Santoso, S. B., Astuti, H. J., & Sayekti, L. M. (2020). The effect of claim expense, liquidity, risk-based capital, company size, debt to equity, and debt to asset on profitability in Indonesia Islamic insurance companies. ICBAE 2020, 1–10. https://doi.org/10.4108/eai.5-8-2020.2301216Sastrodiharjo, I., & Sutama, I. P. (2015). Faktor-faktor yang mempengaruhi pertumbuhan aset perusahaan asuransi jiwa non syariah di Indonesia. Akuntabilitas, 8(1), 18–38. https://doi.org/10.15408/akt.v8i1.2759Siddiqui, S. S. (2015). The association between corporate governance and firm performance - A meta-analysis. International Journal of Accounting and Information Management, 23(3), 218–237. https://doi.org/10.1108/IJAIM-04-2014-0023Wali Ullah, G. M., Faisal, M. N., & Zuhra, S. T. (2016). Factors determining profitability of the insurance industry of Bangladesh. International Finance and Banking, 3(2), 138. https://doi.org/10.5296/ifb.v3i2.9954
FACTORS AFFECTING STOCK PRICE VOLATILITY IN COMPANIES REGISTERED IN JAKARTA ISLAMIC INDEX Nurul Hidayati; Puji Sucia Sukmaningrum
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 8 No. 6 (2021): November-2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol8iss20216pp706-713

Abstract

ABSTRAKTujuan dari penelitian ini yaitu meneliti pengaruh kebijakan dividen, volume perdagangan, volatilitas laba, ukuran perusahaan dan tingkat hutang terhadap volatilitas harga saham di emiten yang terdaftar di JII dari tahun 2015 sampai 2019. Adapun manfaat dari penelitian ini dalam eksistensi pasar finansial secara global karena dapat mengukur tingkat risiko. Penelitian ini dibantu dengan alat analisis Eviews 10. Regresi data panel dipilih dalam penelitian ini. Hasil penelitian membuktikan bahwa secara individual dividend payout ratio, volume perdagangan dan volatilitas laba secara positif memiliki pengaruh yang signifikan, ukuran perusahaan secara negatif memiliki pengaruh signifikan, dan tingkat hutang tidak memiliki pengaruh signifikan terhadap volatilitas harga saham. Secara simultan, variabel dividend payout ratio, volume perdagangan, ukuran perusahaan, volatilitas laba, dan tingkat hutang signifikan berpengaruh terhadap volatilitas harga saham. Kata Kunci: Volatilitas harga saham, emiten syariah, regresi data panel. ABSTRACTThe purpose of this study is to examine the effect of dividend policy, trading volume, earnings volatility, company size and level of debt on stock price volatility in issuers listed in JII from 2015 to 2019. The benefits of this research are in the existence of global financial markets because it can measure the level of risk. This research is assisted by the analysis tool Eviews 10. Panel data regression. selected in this study. The results showed that partially the dividend payout ratio, trading volume and earnings volatility had a positive and significant effect, company size had a negative and significant effect, and the level of debt had no significant effect on stock price volatility. Simultaneously, the variable dividend payout ratio, trading volume, company size, earnings volatility, and level of debt have a significant effect on stock price volatility. Keywords: Stock price volatility, sharia company, panel data regression. DAFTAR PUSTAKABawono, A., & Shina, A. F. I. (2018). Ekonometrika terapan untuk ekonomi dan bisnis Islam aplikasi dengan Eviews. Salatiga: Lembaga Penelitian dan Pengabdian kepada Masyarakat (LP2M) IAIN Salatiga Press.Brigham, E. F., & Houston, J. F. (2011). Dasar-dasar manajemen keuangan, buku kedua. Jakarta: Salemba Empat.Camilleri, S. J., Grima, L., & Grima, S. (2019). The effect of dividend policy on share price volatility: an analysis of Mediterranean banks’ stocks. Managerial Finance, 45(2), 348–364. https://doi.org/10.1108/MF-11-2017-0451Dewi, S., & Paramita, R. A. S. (2019). Pengaruh kebijakan dividen, volume perdagangan, earning volatility, leverage, dan firm size terhadap volatilitas harga saham perusahaan LQ45. Jurnal Ilmu Manajemen, 7(3), 761–771.Fakhruddin, H. M. (2008). Istilah pasar modal A-Z. Jakarta: Elex Media Komputindo.Gumanti, T. A. (2013). Kebijakan Dividen (Pertama). UPP STIM YKPN.Jahfer, A., & Mulafara, A. H. (2016). Dividend policy and share price volatility: Evidence from Colombo stock market. Internaltional Journal Managerial and Financial Accounting, 8(2), 97–108. DOI:10.1504/IJMFA.2016.077947Jannah, R., & Haridhi, M. (2016). Pengaruh kebijakan dividen, earning volatility, dan leverage terhadap volatilitas harga saham pada perusahaan non-financing yang terdaftar di bursa efek Indonesia tahun 2010-2014. Jurnal Ilmiah Mahasiswa Ekonomi Akuntansi, 1(1), 133–148.Mehmood, A., Ullah, M. H., & Ul Sabeeh, N. (2019). Determinants of stock price volatility: Evidence from cement industry. Accounting, 5(4), 145–152. https://doi.org/10.5267/j.ac.2019.2.002Muhamad. (2016). Manajemen keuangan syari’ah analisis fiqh & keuangan. Yogyakarta: UPP STIM YKPN.Novius, A. (2017). Analisis pengaruh kebijakan deviden ( Dividen payout ratio dan devidend yield) terhadap volatilitas harga saham (Studi empiris pada perusahaan kelompok LQ45 yang terdaftar di BEI). Jurnal Al-Iqtishad, 13(1), 67. https://doi.org/10.24014/jiq.v13i1.4389Rowena, J., & Hendra. (2017). Earnings volatility, kebijakan dividen, dan pertumbuhan asset berpengaruh terhadap volatilitas harga saham pada perusahaan manufaktur di BEI periode 2013 – 2015. Jurnal Administrasi Kantor, 5(2), 231–242.Sarmanu. (2017). Dasar metodologi penelitian. Surabaya: Airlangga University Press.Septyadi, M. A., & Bwarleling, T. H. (2020). Pengaruh volume perdagangan saham, leverage, dan kebijakan dividen terhadap volatilitas harga saham, 2, 149–162.Shah, S. A., & Noreen, U. (2016). Stock price volatility and role of dividend policy: Empirical evidence from Pakistan. International Journal of Economics and Financial Issues, 6(2), 461–472.Spence. (1973). Job market signaling. The Quarterly Journal of Economics, 87(3), 355–374. https://doi.org/10.2307/1882010Tandelilin, E. (2010). Manajemen portofolio dan investasi. Surabaya: Kanisius.Yulinda, E., Pujiastuti, T., & Haryono, S. (2020). Analisis pengaruh dividend payout ratio, leverage, firm size, volume perdagangan, earning volatility, dan inflasi terhadap volatilitas harga saham pada perusahaan yang terdaftar dalam indeks LQ45 tahun 2014-2017. Jurnal Ilmiah Indonesia Ilmiah Indonesia, 5(5), 76. DOI:10.36418/syntax-literate.v5i5.1106Zainudin, R., Mahdzan, N. S., & Yet, C. H. (2018). Dividend policy and stock price volatility of industrial products firms in Malaysia. International Journal of Emerging Markets, 13(1), 203–217. https://doi.org/10.1108/IJoEM-09-2016-0250
The Effect of the First Announcement of Large-Scale Social Restrictions in Jakarta Region on Sharia Stock Market Nur Rochmania; Puji Sucia Sukmaningrum
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 9 No. 1 (2022): Januari-2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol9iss20221pp59-67

Abstract

ABSTRAK Penelitian ini bermaksud untuk menganalisis pengaruh pengumuman PSBB (Pembatasan Sosial Berskala Besar) pertama DKI Jakarta terhadap pasar saham syariah, khususnya di sektor properti, real estate & konstruksi yang ditunjukkan dengan nilai return tak normal serta nilai aktivitas volume perdagangan. Metode studi peristiwa dengan model pasar digunakan dalam penelitian ini. Sebanyak 27 saham emiten yang dijadikan sampel. Pengujian statistik menggunakan uji One Sample T-test dan Paired Sample T-test. Periode estimasi 60 hari dan periode peristiwa 21 hari. Hasil uji tersebut menemukan adanya perubahan yang signifikan pada nilai return tak normal, yakni saat t-10, t-3, t+7, t+8, and t+10. Tetapi tidak ditemukan perbedaan yang signifikan antara nilai return tak normal sebelum dengan sesudah pengumuman PSBB pertama DKI Jakarta. Hasil penelitian juga menemukan adanya perubahan yang signifikan pada nilai aktivitas volume perdagangan di seluruh hari di periode peristiwa, serta ditemukan perbedaan yang signifikan antara nilai aktivitas volume perdagangan sebelum dengan sesudah pengumuman PSBB pertama DKI Jakarta. Kata Kunci: Studi Peristiwa, Efisiensi Pasar, Return Tak Normal, Aktivitas Volume Perdagangan.   ABSTRACT This study intends to analyze the effect of the first PSBB (Large-Scale Social Restrictions) announcement in DKI Jakarta on the Islamic stock market, particularly in the property, real estate & construction sectors as indicated by abnormal return values and the value of trading volume activity. The event study method with a market model is used in this study. A total of 27 stock of companies were used in the sample. Statistical testing using One Sample T-test and Paired Sample T-test. The estimated period is 60 days and the event period is 21 days. The test results found a significant change in the abnormal return, namely at t-10, t-3, t+7, t+8, and t+10. However, there was no significant difference between the abnormal return before and after the first PSBB announcement in DKI Jakarta. The results also found a significant change in the trading volume activity on all days in the event period and found a significant difference between the trading volume activity before and after the first PSBB announcement in DKI Jakarta. Keywords: Event Study, Market Efficiency, Abnormal Return, Trading Volume Activity.   DAFTAR PUSTAKA Abdalloh, I. (2019). Pasar modal syariah. Jakarta: Gramedia. Duniainvestasi.com. (2021). Dunia investasi data bursa efek. Retrieved from http://www.duniainvestasi.com/bei/prices/stock/statistic Fama, E. F. (1970). Efficient capital markets: A review of theory and empirical work. The Journal of Finance, 25(2), 383– 417. Hartono, J. (2015). Teori portofolio dan analisis investasi. Yogyakarta: BPFE. ______. (2017). Teori Portofolio dan Analisis Investasi. Yogyakarta: BPFE. Ichev, R., & Marinč, M. (2018). Stock prices and geographic proximity of information: Evidence from the Ebola outbreak. International Review of Financial Analysis, 56, 153-166. https://doi.org/10.1016/j.irfa.2017.12.004 IDX. (2021). Indeks Saham. Retrieved from https://www.idx.co.id/data-pasar/data-saham/indeks-saham/ Kementerian Agama RI. (2021). Al-Qur’an. Retrieved from https://quran.kemenag.go.id/ Otoritas Jasa Keuangan. (2021). Daftar Efek Syariah. Retrieved from https://www.ojk.go.id/id/kanal/syariah/data-dan-statistik/daftar-efek-syariah/Default.aspx Pramana, A., & Mawardi, W. (2012). Analisis perbandingan trading volume activity dan abnormal return saham sebelum dan sesudah pemecahan saham (studi kasus pada perusahaan yang terdaftar di bursa efek indonesia periode 2007-2011). Diponegoro Journal Management, 1(1), 1-9. Presidenri.go.id. (2021). Keterangan pers Presiden RI terkait dua WNI positif korona. Retrieved from https://presidenri.go.id/video/keterangan-pers-presiden-ri-terkait-dua-wni-positif-korona/ Sukmaningrum, P. S., Madyan, M., & Hendratmi, A. (2019). Reaksi pasar saham yang terdaftar dalam Jakarta Islamic Index (JII) terhadap pengumuman penetapan gubernur DKI Jakarta tahun 2017. Jurnal Ekonomi Dan Bisnis Islam, 5(1), 1-14. Suryawijaya, M. A., & Setiawan, F. A. (1998). Reaksi pasar modal Indonesia terhadap peristiwa politik dalam negeri (Event study pada peristiwa 27 Juli 1996). KELOLA: Gadjah Mada University Business Review, 7(18), 137–153. Tandelilin, E. (2010). Portofolio dan investasi: Teori dan aplikasi. Yogyakarta: Kanisius. Wang, Y. H., Yang, F. J., & Chen, L. J. (2013). An investor's perspective on infectious diseases and their influence on market behavior. Journal of Business Economics and Management, 14(sup1), S112-S127. https://doi.org/10.3846/16111699.2012.711360
Productivity Determinants of Islamic Banks in Indonesia: Two-Stage Malmquist Productivity Index Mutiara Ramadhani Putri; Puji Sucia Sukmaningrum
Falah: Jurnal Ekonomi Syariah Vol. 7 No. 1 (2022): FEBRUARY
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jes.v7i1.17365

Abstract

Islamic Banks in Indonesia experienced a general increase in productivity during the observation period influenced by factors of technological change. This study aims to measure Islamic Banks' productivity level and productivity determinants in Indonesia. This study was quantitatif using Malmquist Productivity Index to measure the level of productivity of Islamic banks. Meanwhile, panel data regression was used to analyze the determinants of productivity. The result foun that Return on Assets (ROA) and Financing to Deposit Ratio (FDR) has significantly affect productivity changes, whole Capital Adequacy Ratio (CAR) has a significant negative effect. The result provides a valuable contribution for consideration regarding managing existing resources to produce optimal output. Bank management can invest in technology and innovation in distributing banking products and services. Islamic bank management also needs to pay attention to the determinants which affect productivity growth.
PENDAMPINGAN PROGRAM JARING PENGAMAN SOSIAL: STUDI DAMPAK SOSIO EKONOMI COVID-19 BERDASARKAN MAQASHID SYARIAH DI KABUPATEN NGANJUK Tika Widiastuti; Puji Sucia Sukmaningrum; Muryani Muryani; Aufar Fadlul Hady
Jurnal Layanan Masyarakat (Journal of Public Services) Vol. 5 No. 2 (2021): JURNAL LAYANAN MASYARAKAT
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jlm.v5i2.2021.338-345

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AbstractThis community service activity, which is packaged in the form of mentoring, aims to assist stakeholders in Sugihwaras village, Prambon sub-district, Nganjuk Regency to synergize with each other in handling the impact of the COVID-19 pandemic. In addition, this assistance aims to provide a model of distribution of assistance that meets basic human needs following the Dharurriyatul Khams concept in Maqashid Syariah. These basic needs include the protection of religion, soul, mind, lineage, and property. Community service has increased public awareness regarding the importance of synergy between stakeholders during the pandemic and understanding the types of assistance that must be prioritized referring to the maqashid sharia concept. The impact of this assistance is the strength of the village economic structure because the community helps each other strengthen the collaborative economy.Keywords: Assistance, Sinergyz, Maqashid ShariahAbstrakKegiatan pengabdian masyarakat yang dikemas dalam bentuk pendampingan ini bertujuan untuk memberikan pendampingan kepada stakeholder di desa Sugihwaras, kecamatan Prambon, Kabupaten Nganjuk untuk saling bersinergi dalam penanganan dampak pandemi COVID-19. Selain itu, pendampingan ini bertujuan untuk memberikan sebuah model penyaluran bantuan yang memenuhi kebutuhan dasar manusia sesuai dengan konsep Dharurriyatul Khams dalam Maqashid Syariah. Kebutuhan dasar tersebut meliputi perlindungan agama, jiwa, akal, keturunan, dan harta. Pengabdian masyarakat berhasil meningkatkan kesadaran masyarakat terkait pentingnya sinergi antar pemangku kepentingan stakeholder dalam masa pandemi serta pemahaman mengenai jenis bantuan yang harus diprioritaskan mengacu kepada konsep maqashid syariah. Dampak dari pendampingan ini adalah kuatnya struktur ekonomi desa karena masyarakat saling membantu dalam penguatan ekonomi bersama.Kata Kunci: Pendampingan, Sinergi, Maqashid Syariah
The Influence of Managerial Ownership, Board of Commissioners Proportion, Auditing Committee Independence, Sales Growth, Company Size To Return of Equity (ROE) of State Owned Enterprises Which is Listed in The Indonesian Sharia Stock Index 2011-2014Period Nisful Laila; Idzal Dwi Nantyah; Puji Sucia Sukmaningrum
AFEBI Islamic Finance and Economic Review Vol 2, No 02 (2017)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (301.567 KB) | DOI: 10.47312/aifer.v2i02.110

Abstract

The aim of this study was to determine the effect of good corporate governance, growth of sales, and firm size on ROE of State Owned Enterprises which hare listed on the Indonesian Stock Exchange in the 2011-2014 period. The method used is the quantitative method with panel data regression techniques. The data used are secondary data by collecting annual financial data statements of State Owned Enterprises which hare listed on the Indonesian Stock Exchange in the 2011-2014 period.Panel data regression conduction showed that managerial ownership (X1) has a negative and significant impact on ROE, the proportion of commissioners has a positive and significant impact on ROE (X2), the independence of audit committee (X3)has a negative and significant impact on ROE, growth of sales (X4 )has a positive and significant impact on ROE, firm size (X5) has a positive and significant impact on ROE as well as managerial ownership, the proportion of commissioners, the independence of audit committee, growth of sales, and firm size simultaneously affect the ROE of State Owned Enterprises in the 2011-2014 period.Keywords: Firm Size, Growth of Sales, Managerial Ownership, Return On Equity (ROE), The Proportion of Board Commissioners, The Independence of Audit Committee
Determinant Of Cash Holding From Listed Company In Jakarta Islamic Index Savilla Azzahra; Puji Sucia Sukmaningrum
AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/aifer.v7i01.391

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Cash Holding has a crucial role in every firm. There is a lot of consideration why companies keep their cash on hand. These situations depend on motive of the firm and condition that they have faced. This study aims to determine the effect of leverage, liquidity, growth opportunity and  firm size on firm cash holding. The sample of this study are listed firm from Jakarta Islamic Index (JII) from 2012-2019. The research method is quantitative, using  Random Effect Model (REM). The number of observation reaches 80 data from listed firm in Jakarta Islamic Index during 2012-2019. Sources of data was provided in annual financial report from Indonesia Stock Exchange (IDX) or from official website. This study concludes that leverage and firm size has negative significant effect on cash holding while growth opportunity and liquidity have insignificant negative effect on firm cash holding.
Pembinaan Integrasi Keuangan Sosial Syariah pada Lembaga Filantropi Islam Tika Widiastuti; Puji Sucia Sukmaningrum; Sri Ningsih; Imron Mawardi; Sri Herianingrum; Hanifiyah Yuliatul Hijriah; Muhammad Wicaksono Hasdyani Putra
Aksiologiya: Jurnal Pengabdian Kepada Masyarakat Vol 6, No 3 (2022): Agustus
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/aks.v6i3.9912

Abstract

Filantropi Islam di Indonesia memiliki tujuan yang relevan dengan Sustainable Development Goals (SDGs), yaitu kesejahteraan. Disamping itu, potensi penghimpunan dana filantropi Islam di Indonesia menjadi keuntungan tersendiri. Namun, lembaga filantropi Islam memiliki beberapa permasalahan diantaranya: permasalahan di bidang kelembagaan, teknologi, sumber daya manusia, regulasi dan tata kelola. Salah satu cara untuk mengatasi permasalahan tersebut adalah melakukan integrasi keuangan sosial syariah. Kegiatan pengabdian masyarakat ini bertujuan untuk memberikan pembinaan integrasi keuangan sosial syariah kepada lembaga filantropi Islam dan stakeholder terkait. Pembinaan dilakukan sebanyak dua kali. Kegiatan pertama dilakukan secara online kepada Lembaga filantropi Islam dengan memanfaatkan media zoom. Kegiatan pertama menghadirkan para pakar dari perwakilan regulator, praktisi dan akademisi untuk memberikan arahan dan catatan penting terkait dengan materi pembinaan yang diberikan. Pembinaan kedua secara hybrid kepada masyarakat Desa Tambakrigadung, Lamongan. Hasil program pengabdian menujukkan telah terbina sejumlah lembaga filantropi Islam dalam integrasi keuangan sosial syariah, salah satunya pada implementasi program yang memberi dampak langsung terhadap masyarakat yang membutuhkan.
Stock Market Reaction to the Tax Amnesty Announcement Wibowo, Muhammad Satriyo; Sukmaningrum, Puji Sucia
Indonesian Capital Market Review Vol. 11, No. 2
Publisher : UI Scholars Hub

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Abstract

The Indonesian Government has put in place policies that are quite bold and that highly impacton both companies and the economy. This includes the endorsement tax amnesty policy in 2016.This study aims to investigate the reaction of the stock market against the policy. The dataset of this research was 100 companies listed on the Indonesian Islamic Stock Index (ISSI). Research methods used the event study market adjusted model to look at changes in the Average Abnormal Return (AAR) and Trading Volume Activity (TVA) during the announcement. The results of this research show there is a difference in the AAR and TVA before and after the announcement. The investors positively viewed the information content of the tax amnesty policy. The government has made a very good policy and it supports the improvement in the quality of corporate governance and company performance.
Economic Empowerment of Dhuafa Families Through Digital Business and Financial Management Based on Maqashid Sharia in Tambakrigadung, Lamongan Tika Widiastuti; Puji Sucia Sukmaningrum; Lina Nugraha Rani; Muhammad Ubaidillah Al Mustofa; Ninda Ardiani
Jurnal Pengabdian kepada Masyarakat (Indonesian Journal of Community Engagement) Vol 8, No 3 (2022)
Publisher : Direktorat Pengabdian kepada Masyarakat Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (525.269 KB) | DOI: 10.22146/jpkm.67976

Abstract

Indonesia has an agricultural sector that contributes significantly to the Indonesian economy. However, when the COVID-19 pandemic affected the agricultural industry, it impacted much on the Maju Mulyo Farmer Group in Tambakrigadung, Lamongan. The majority of members of the Maju Mulyo Farmer Group were classified as dhuafa, which means that they had limitations in developing their businesses, planning family finances, and in using technology optimally to support business continuity. The solution provided was through community economic empowerment activities related to Maqashid Sharia-based financial management and digital marketing. The method began by identifying the existing conditions of the Maju Mulyo Farmer Group. Subsequently, it was proceeded with the training stages which included product development training, business management, recording simple accounting reports, e-commerce, digital marketing, and family financial management. The last stage consisted of mentoring, empowering, monitoring, and evaluation. The results of community service activities and providing training with regular assistance could open new insights for rural communities regarding financial and business management amid the COVID-19 Pandemic. Financial management and digital business could facilitate the daily activities of residents and improve the ability of villagers to survive during the COVID-19 pandemic.
Co-Authors Abdul Ghofur Achsania Hendratmi Ady Wena Pramudya Al Marifatul A'la Alifia Riza Azhari AMANI, ZATA ATIKAH Anindita, Nandini Annisa Rahma Febriyanti Aufar Fadlul Hady Azyyati Yusrina Bayu Arie Fianto Bin Mohd Dali, Nuradli Ridzwan Shah Che Mohd Salleh, Marhanum Chorista Fitriani Eka Puspa Dewi Eko Fajar Cahyono, David Kaluge Faiz, Ayatur Muhammad Farah Faadilah Fatimatuzzahra, Fitriati Filianti, Dian Fitriati Fatimatuzzahra Hamidatul Husnah Hanifiyah Yuliatul Hijriah, Hanifiyah Yuliatul Ichwan Abdillah Idzal Dwi Nantyah Ikramina, Cyntia Imron Mawardi Ira Ragelia Luthfi Nur Rosyidi Martini Dwi Pusparini, Martini Dwi Miftakhul Fadhilah Mohd Dali, Nuradli Ridzwan Shah Bin Muhammad Iqbal Rifqi Ardianto Muhammad Madyan, Muhammad Muhammad Satriyo Wibowo Muhammad Ubaidillah Al Mustofa Muhammad Wicaksono Hasdyani Putra Muryani Muryani Mutiara Ramadhani Putri Mutiara Ramadhani Putri Nadia Laksmita Sari Nikmatul Atiya Ninda Ardiani Nisful Laila Noven Suprayogi, Noven Novia Rizky Ramadhanty Nur Rochmania Nurul Dwi Wahyuni Nurul Hidayati Nurul Laili Rahmawati Putra, Muhammad Wicaksono Hasdyani Putri, Mutiara Ramadhani Putri, Tsamara Nadya Cantika Rahmat, Tsaniya Kamilah Rama Wijaya, Andika Rani, Lina Nugraha Rischi Qonita Fauziah Rusmita, Sylva Alif Salsabiilaa Nadiah Putri Herlambang Savilla Azzahra Shafana Putri Sambas Siti Inayatul Faizah, Siti Inayatul Siti Zulaikha Sri Herianingrum Sri Ningsih Sulistya Rusgianto Syafrina Hidayati Tika Widiastuti Wahyuni, Nurul Dwi Wibowo, Muhammad Satriyo Wijayanti, Ida ZATA ATIKAH AMANI