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All Journal Jurnal Studia Akuntansi dan Bisnis (The Indonesian Journal of Management & Accounting) Indonesian Management and Accounting Research
Abul Hassan
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Economics, Econometrics & Finance

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Financial Crisis and Capitalism: Solution in Islamic Finance Abul Hassan
Jurnal Studia Akuntansi dan Bisnis (The Indonesian Journal of Management & Accounting) Vol 1, No 1 (2013)
Publisher : Sekolah Tinggi Ilmu Ekonomi La Tansa Mashiro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55171/jsab.v1i1.17

Abstract

The purpose of this paper is to focus on recent financial crisis and points out the various factors that have contributed to the crisis. It also articulates the need for Islamic banking and financial service industry to be better embedded in the reality of the real sector to achieve the broader economic goals. An in-depth analysis is made based on the information from secondary sources. The paper argues that capitalism is the main factor of the crisis. Some of the causes of the current financial crisis are due to excessive speculation and derivatives, debt finance, greed etc. leading to financial collapse and that then result in an economic recession in the western economies. This study used a qualitative approach and descriptive analysis. In the process, a descriptive analysis is described and analyzed for dissemination and implementation of analyses Islamic economics as a solution to the financial crisis. It then looks Islamic financial system to help solve the current financial crisis. A major factor behind the current financial is excessive debt finance and financial economy with a growing disconnect between the monetary and the real sector which are the main characteristics of the capitalistic system. Some proponents of the Islamic finance claim such financial crisis would have been avoided, if asset-backed Islamic finance were adopted. However, while Islamic finance in form and legality is asset backed at the micro-juristic level, it is still largely de-linked from real sector at the macro level.
Relationship Between Institutional Shareholdings of the Constituent Companies of FTSE Islamic Index and Corporate Social Performance: An Empirical Investigation Abul Hassan; Sofyan S Harahap
Indonesian Management and Accounting Research Vol. 5 No. 1 (2006)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (716.335 KB) | DOI: 10.25105/imar.v5i1.1272

Abstract

A business company which is defined as being socially responsible, demonstrates the perception of the link between social and fmancial performance. This characteristic may lead the business company to long-term competitive advantages in terms of improvement of financial performance. In the European countries, Islamic institutional investors such as mutual funds, equity funds, charities etc have become the predominant players and their influence in the western markets are growing. Present study hypothesises that Islamic or socially responsible institutional investors invest heavily in companies with strong corporate social performance. Empirical results indicate a significant, positive relationship between social performance and number of institutions holding shares of constituent companies of the Islamic index.
Co-Authors Sofyan S Harahap