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Comparative Analysis between Corporate Sukuk and Bonds in Indonesia: Value at Risk Approach Putra, Bintang Fajar Muskan; Sukmaningrum, Puji sucia Sucia; Rusgianto, Sulistya
The Indonesian Capital Market Review Vol. 15, No. 2
Publisher : UI Scholars Hub

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Abstract

This research aims to analyze the differences in Risk (Value at Risk) and Return between sukuk and bonds. The research approach utilizes the T-test to examine this comparison. The data source is the closing prices of Sukuk and Bonds for 2018-2020. The research results indicate a significant difference between Sukuk and Bonds regarding returns. A vital difference also occurs in Sukuk and Bonds's Value at Risk (VaR). The results of this study prove that Sukuk has higher returns and lower VaR than Bonds. Sukuk can be a good instrument for portfolio diversification.
THE EFFECT OF GOOD CORPORATE GOVERNANCE ON THE EFFICIENCY OF ISLAMIC BANKS FROM 2012 TO 2016 WITH SOCIAL PERFORMANCE AS AN INTERVENING VARIABLE Ghofur, Abdul; Sukmaningrum, Puji Sucia
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 4 No. 1 (2018): JANUARI-JUNI 2018
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (198.202 KB) | DOI: 10.20473/jebis.v4i1.10047

Abstract

This study aims to determine the effect of Good Corporate Governance and social performance on efficiency in Bank Syariah Period 2012-2016. The sample in this study used a purposive sampling method of Islamic Commercial Banks (BUS) in Indonesia, from 13 BUS took 6 BUS that met the sample criteria to be tested. Furthermore, this research uses path analysis, while the research approach used is quantitative approach using analysis technique PLS (Partial Least Square). In this research, there are three latent variables namely Good Corporate Governance as an exogenous or independent variable, social performance as endogen intervention variable, and efficiency as an endogen variable. The indicators used to reflect the Good Corporate Governance Variables are the Board of Commissioners (DK), the Composition of Independent Commissioners (KDKI), the Sharia Supervisory Board (DPS), the Frequency of Sharia Supervisory Board Meetings (FRDPS), and the Frequency of Audit Committee Meetings (FRKA). The indicators used to reflect social performance are financing Mudharabah-Musyarakah, Zakat, and Qard.. Furthermore, the efficiency indicator is reflected by the ratio of BOPO (Operational Cost to Operating Income). The results of this study indicate that GCG has a significant positive effect on efficiency, GCG has a significant positive effect on social performance, social performance has a significant negative effect on efficiency, GCG has a significant negative effect on efficiency through social performance.          Keywords: Good Corporate Governance, Social Performance, Efficiency, Islamic Banks
MARKET REACTION OF STOCKS LISTED ON THE JAKARTA ISLAMIC INDEX (JII) TO THE ANNOUNCEMENT OF THE 2017 GOVERNOR OF DKI JAKARTA Sukmaningrum, Puji Sucia; Madyan, Muhammad; Hendratmi, Achsania
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 5 No. 1 (2019): JANUARY-JUNE 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (911.899 KB) | DOI: 10.20473/jebis.v5i1.10087

Abstract

The purpose of this research is to analyze the reaction of investors before and after the announcement of the determination of the Governor of DKI Jakarta in 2017 against abnormal return and trading volume of activity. These studies use quantitative methods of event study. Estimation period is 60 days and research period is 10 days before and 10 days after the announcement. the sample of this research is 30 stocks listed on the Jakarta Islamic Index (JII). The results showed no significant difference against AAR and ATVA before and after the announcement. Investor it is possible already to react before the official announcement of the Election Commission (KPU). Investors could do predictions the election results of the Survey or the quick count.Keywords: Market Reaction, Event Study, Abnormal Return, Trading Volume Activity, Islamic Capital Market.   
The Nexus of Sharia Financial Literacy, Inclusion, and Technology with SME Performance: A Study in East Java Arzety, Happy Miranda; Sukmaningrum, Puji Sucia
EQUILIBRIUM Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.28577

Abstract

SMEs are a business sector with an important role in the economy with significant contributions to Gross Domestic Product (GDP) and job creation, including in East Java Province as one of the provinces with the 3rd largest number of SMEs in Indonesia. However, the increase of SMEs in Indonesia requires SMEs to survive in a very tight competition. In surviving the competition, the main challenges faced by SMEs to improve their innovation and performance include access to financial resources, ineffective understanding and management of financial management, and utilization of financial products and services. Therefore, the purpose of this study is to analyze the effect of Islamic financial literacy, financial inclusion and sharia financial technology on the performance of SMEs in East Java. This study uses a quantitative approach with a sample of 100 people. The analysis technique used is SEM-PLS. The results of study indicate that the performance of SMEs in East Java has a significant effect on Islamic financial literacy, financial inclusion, and sharia financial technology. In addition, there is also mediating effect of financial inclusion on Islamic financial literacy and sharia financial technology on the performances of SMEs in East Java. With this research, it is expected that there will be more education and training programs on Islamic financial literacy, create policies that can encourage financial inclusion and innovate sharia financial technology products adapted to the needs of SMEs through collaboration between the government, Islamic financial institutions, and the community.
Pendampingan Instrumentasi SROI kepada LAZ Yatim Mandiri untuk Mengukur Dampak Sosial-Ekonomi-Spiritual Program Breeding dan Fattening Domba Sulistya Rusgianto; Tika Widiastuti; Noven Suprayogi; Eko Fajar Cahyono; Al Marifatul A'la; Nisful Laila; Puji Sucia Sukmaningrum; Eka Puspa Dewi; Nikmatul Atiya; Shafana Putri Sambas; Chorista Fitriani
SEMAR (Jurnal Ilmu Pengetahuan, Teknologi, dan Seni bagi Masyarakat) Vol 14, No 1 (2025): Mei
Publisher : LPPM UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/semar.v14i1.96450

Abstract

Kegiatan pengabdian masyarakat ini bertujuan memberikan pendampingan Lembaga Amil Zakat Nasional (LAZNAS) Yatim Mandiri dalam meningkatkan kemampuan mengevaluasi dampak sosial-ekonomi-spiritual program breeding dan fattening domba menggunakan metode Social Return on Investment (SROI). Tahapan kegiatan meliputi: (1) koordinasi awal untuk menyusun instrumen SROI; (2) Focus Group Discussion (FGD) dengan LAZNAS Yatim Mandiri guna menggali informasi terkait program; (3) pendampingan penyusunan instrumen SROI; (4) pendampingan evaluasi lapangan untuk pengumpulan data; dan (5) pendampingan penghitungan dampak sosial-ekonomi menggunakan metode SROI. Melalui program ini, Yatim Mandiri berhasil mengembangkan instrumen evaluasi SROI yang relevan dan efektif dalam mengukur dampak program. Hasil evaluasi menunjukkan bahwa rasio SROI program ini mencapai 5,42, yang berarti setiap Rp1 yang diinvestasikan menghasilkan manfaat ekonomi dan sosial senilai Rp5,42. Kegiatan ini tidak hanya memberikan gambaran nyata dampak sosial-ekonomi yang dihasilkan oleh program, tetapi juga memperkuat kapasitas LAZ Yatim Mandiri dalam menyusun dan mengevaluasi program secara mandiri di masa depan. Pendampingan ini diharapkan menjadi model strategis dalam pengelolaan program zakat berbasis pemberdayaan masyarakat yang terukur dan berkelanjutan.
Penguatan Ekonomi Orang Tua pada Keluarga Anak Jalanan (Studi Kasus: Sanggar Alang-Alang Surabaya) Puji Sucia Sukmaningrum; Siti Inayatul Faizah
Jurnal Sosial Humaniora Vol 12 No 2 (2019)
Publisher : Institut Teknologi Sepuluh Nopember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12962/j24433527.v12i2.4209

Abstract

The aim of this study is to find out the strategy on how to strengthen theeconomy welfare of street children’s family in Surabaya. Children are the nextgeneration of the nation whose all their needs should be fulfilled. Surabayaas one of the largest cities in Indonesia has some issues relating to povertyand street children. The research employed qualitative research method andthe informants were the street children in Sanggar Alang-Alang Surabaya.The result of the research showed that the strategy that can be given to parentsof the street children is the construction of the family workforce throughcreative economy programme, protection from discrimination against theirwork, provision of services, and creating productive business for poorfamilies.
Pengaruh Literasi Keuangan Islam, Sikap Terhadap Uang, dan Lingkungan Sosial Terhadap Perencanaan Keuangan Keluarga pada Pasangan Muda Muslim di Surabaya Nandini Anindita; Puji Sucia Sukmaningrum; Sylva Alif Rusmita
Airlangga Journal of Innovation Management Vol. 5 No. 3 (2024): Airlangga Journal of Innovation Management
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/ajim.v5i3.60549

Abstract

Disciplined financial planning can create a more durable and financially stable marriage. However, many people still depend on fate, leading to financial planning being overlooked in daily life. Economic factors remain the second most common cause of divorce in Surabaya. Indonesia’s Sharia financial literacy index is only 8.93%, and only 6.3% of the population prepares for long-term financial goals. This study has the purpose of observing the modification theory of planned behavior with the variable Islamic financial literacy, attitude towards money, and social environment on family financial planning among young Muslim couples, especially in Surabaya. This research uses a quantitative approach used multiple linear regression analysis, utilizing IBM SPSS version 27 as the analytical tool. The subjects of this research are young Muslim couples in Surabaya, as younger generations often lack sufficient financial knowledge and tend to make poor financial decisions. The total sample consists of 75 respondents. The results show that Islamic financial literacy and social environment variables positively and significantly affect family financial planning. Meanwhile, the attitude towards money variable also shows an influence but is not statistically significant. These findings highlight the importance of improving Islamic financial literacy and leveraging the social environment to enhance family financial planning outcomes.
Co-Authors Abdul Ghofur Achsania Hendratmi Ady Wena Pramudya Al Marifatul A'la Alifia Riza Azhari AMANI, ZATA ATIKAH Arzety, Happy Miranda 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 Fitriati Fatimatuzzahra Hamidatul Husnah Hanifiyah Yuliatul Hijriah, Hanifiyah Yuliatul Ichwan Abdillah Idzal Dwi Nantyah Ikramina, Cyntia Imron Mawardi Ira Ragelia 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 Nandini Anindita Nikmatul Atiya Ninda Ardiani Nisful Laila Noven Suprayogi, Noven Novia Rizky Ramadhanty Nur Rochmania Nurul Dwi Wahyuni Nurul Hidayati Nurul Laili Rahmawati Putra, Bintang Fajar Muskan Putra, Muhammad Wicaksono Hasdyani Putri, Mutiara Ramadhani Putri, Tsamara Nadya Cantika Rahmat, Tsaniya Kamilah Rama Wijaya, Andika Rani, Lina Nugraha Rischi Qonita Fauziah Rosyidi, Luthfi Nur 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 ZATA ATIKAH AMANI