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PENGARUH PRODUK DOMESTIK BRUTO (PDB), INFLASI DAN KURS RUPIAH TERHADAP YIELD SUKUK NEGARA SR 009 PERIODE 2017-2020 Kamila, Dwi Yusti; Tripalupi, Ramadhani Irma; Afifah, Eva
Likuid Jurnal Ekonomi Industri Halal Vol. 1 No. 2 (2021): LIKUID: Jurnal Ekonomi Industri Halal
Publisher : Sharia Economics Study Program Faculty of Islamic Economics and Business UIN Sunan Gunun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/likuid.v1i2.14158

Abstract

The sale and purchase of Islamic bonds or sukuk products in the secondary market is more volatile, the profit which is the reference for investors in the secondary market is generally yield to maturity (YTM) or often called yield. According to Laily Fitriyah et al. in their research, the economic conditions in a country can be an important reference for investors' decisions in that country, this is in line with the theory pioneered by Rosel in 1963, namely the Arbitrage Pricing Theory that bond yields can be influenced by macroeconomic factors. Gross Domestic Product (GDP), inflation and the rupiah exchange rate are some branches of macroeconomics that can describe the economic condition of a country. This study uses the Vector Error Correction Model (VECM) data analysis method. The data processing tools used are Eviews9 and Microsoft Excel 2019 to support initial data processing. The VECM estimation results show that in the short term only the rupiah exchange rate variable has a significant negative effect on the yield of SR09, GDP has an insignificant negative effect and inflation has an insignificant positive effect on the yield of SR009. Meanwhile, in the long term, all independent variables have a significant negative effect on the yield of SR009.Keywords: GDP, Inflation, Rupiah Exchange, Yield.
TRANSFORMASI MODEL PRODUKSI UMKM DARI STOCK-BASED KE DEMAND-DRIVEN MELALUI PRE-ORDER DALAM EKONOMI MIKRO ISLAM Nabilla Rizkya Koswari; Erisa Sandra Angela; Nurul Paojiyah; Ramadhani Irma Tripalupi
Journal of Islamic Economics and Business Review (JIEBR) Vol 2 No 1 (2026): Journal of Islamic Economics and Bussines Review
Publisher : LPPM Universitas Islam Indragiri

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Perkembangan ekonomi digital mendorong UMKM meningkatkan produksi, namun model berbasis stok (stock-based) tanpa data permintaan riil kerap memicu over-supply, dead stock, price war, dan inefisiensi biaya. Penelitian ini menganalisis peralihan ke model demand-driven melalui sistem pre-order dengan pendekatan kualitatif berbasis studi pustaka dan analisis komparatif ekonomi konvensional dan Islam. Hasil menunjukkan model ini meningkatkan efisiensi, mengurangi kelebihan stok, serta menekan biaya, sekaligus selaras dengan akad salam dan prinsip maslahah, tawazun, serta larangan israf. Namun, efektivitasnya bergantung pada kepercayaan konsumen, kesiapan teknologi, dan karakteristik produk, sehingga pre-order merupakan strategi adaptif yang efektif namun kontekstual bagi keberlanjutan UMKM.   The development of the digital economy encourages MSMEs to increase production, but stock-based models without real demand data often trigger oversupply, dead stock, price wars, and cost inefficiencies. This study analyzes the shift to a demand-driven model through a pre-order system using a qualitative approach based on literature studies and a comparative analysis of conventional and Islamic economics. The results show that this model increases efficiency, reduces excess stock, and reduces costs, while also aligning with the salam contract and the principles of maslahah, tawazun, and the prohibition of israf. However, its effectiveness depends on consumer trust, technological readiness, and product characteristics, making pre-orders an effective yet contextually adaptive strategy for the sustainability of MSMEs.