Akhmad Yusuf Khoiruddin
Lecturer, Faculty Of Islamic Economics And Business, State Islamic University Sunan Kalijaga Yogyakarta-Indonesia

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Best Choice for Investment-Islamic Equity or Sukuk? Akhmad Yusuf Khoiruddin
Global Review of Islamic Economics and Business Vol 4, No 1 (2016)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (610.569 KB) | DOI: 10.14421/grieb.2016.041-05

Abstract

Islamic capital market is an important part in the development of Islamic economics especially in providing a mobilization of fund to the efficient economic source and provides liquidity to the Islamic finance institution such as Islamic bank etc. There are two main instrumens in Islamic capital market namely Islamic equity and sukuk. In investmet point of view, the raise question is what is the best choises of investment between islamic equity and sukuk. The objective of this research to describe the return and the risk profile of Islamic equity and sukuk in the world. Second, this paper will conduct study about the chance to arrange Islamic portfolio investment consist of two securities namely, sukuk and Islamic equity. To analyze this, researchers will use some tools in capital market theories including portfolio theory, minimum variance portfolio, Sharpe, Jansen, Treynor and RAP model.  Thirdly, this paper will test the different level of return between Islamic equity and sukuk. The main instrument is statistical analysis, and SPSS. This research found that based on quantitative analysis Sukuk provides a better return as well as lower risk. However, in the short term, islamic equity is often provide a higher return than sukuk. From the several measurement tools, this research also finds that sukuk has a better performance than islamic equity. In  contrast, statistical testing shows that there are no significance differences return between Islamic equity and sukuk from 2005 till 2010.  Therefore, this research suggest that investor/peple who want to increase their wealth and prefer to invest in islamic capital market, they should make a islamic portfolio include some securities component, sukuk, islamic equity, islamic unit trust, islamic etf, etc.
Determinant of Tourist Satisfaction on Halal Tourism: Examining the Religious Aspect as a Moderating Variable Muhammad Ghafur Wibowo; Akhmad Yusuf Khoiruddin
EKONOMIKA SYARIAH : Journal of Economic Studies Vol 6, No 1 (2022): January - June 2022
Publisher : Institut Agama Islam Negeri (IAIN) Bukittinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30983/es.v6i1.5575

Abstract

The objectives of this study are to test the relationship between tourism motivations and tourist satisfaction, and to test how ‘Religion’ moderates the relationship in Bukittinggi City, West Sumatera. The variable ‘Religion’ is represented by the availability of Islamic norms and practices which are relevant to tourism at the destination. The results of the Partial least square (PLS) indicated that the tourism motivations are significantly and positively related to tourist satisfaction. The results also showed that Islamic attribute significantly affect the tourist satisfaction. Travel motivation consisting of pull motivation and push motivation has also been shown to have a significant effect on tourist satisfaction.Tujuan dari penelitian ini adalah untuk menguji hubungan antara motivasi wisata dan kepuasan wisatawan, dan untuk menguji bagaimana 'Agama' memoderasi hubungan tersebut. Studi kasus dalam Penelitian ini adalah Halal Tourism di Kota Bukittinggi, Sumatera Barat. Variabel ‘Agama’ diwakili oleh tersedianya norma dan praktik Islam yang relevan dengan pariwisata di destinasi. Hasil Partial least square (PLS) menunjukkan bahwa motivasi wisata berhubungan positif dan signifikan dengan kepuasan wisatawan. Hasil penelitian juga menunjukkan bahwa atribut Islami berpengaruh signifikan terhadap kepuasan wisatawan. Motivasi perjalanan yang terdiri dari motivasi tarikan dan motivasi dorongan juga terbukti memiliki pengaruh yang signifikan terhadap kepuasan wisatawan.
Determinant of Tourist Satisfaction on Halal Tourism: Examining the Religious Aspect as a Moderating Variable Muhammad Ghafur Wibowo; Akhmad Yusuf Khoiruddin
EKONOMIKA SYARIAH : Journal of Economic Studies Vol 6, No 1 (2022): January - June 2022
Publisher : Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (548.459 KB) | DOI: 10.30983/es.v6i1.5575

Abstract

The objectives of this study are to test the relationship between tourism motivations and tourist satisfaction, and to test how ‘Religion’ moderates the relationship in Bukittinggi City, West Sumatera. The variable ‘Religion’ is represented by the availability of Islamic norms and practices which are relevant to tourism at the destination. The results of the Partial least square (PLS) indicated that the tourism motivations are significantly and positively related to tourist satisfaction. The results also showed that Islamic attribute significantly affect the tourist satisfaction. Travel motivation consisting of pull motivation and push motivation has also been shown to have a significant effect on tourist satisfaction.Tujuan dari penelitian ini adalah untuk menguji hubungan antara motivasi wisata dan kepuasan wisatawan, dan untuk menguji bagaimana 'Agama' memoderasi hubungan tersebut. Studi kasus dalam Penelitian ini adalah Halal Tourism di Kota Bukittinggi, Sumatera Barat. Variabel ‘Agama’ diwakili oleh tersedianya norma dan praktik Islam yang relevan dengan pariwisata di destinasi. Hasil Partial least square (PLS) menunjukkan bahwa motivasi wisata berhubungan positif dan signifikan dengan kepuasan wisatawan. Hasil penelitian juga menunjukkan bahwa atribut Islami berpengaruh signifikan terhadap kepuasan wisatawan. Motivasi perjalanan yang terdiri dari motivasi tarikan dan motivasi dorongan juga terbukti memiliki pengaruh yang signifikan terhadap kepuasan wisatawan.