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All Journal Ihtifaz: Journal of Islamic Economics, Finance, and Banking International Journal of Islamic Business and Economics (IJIBEC) AL-ARBAH: Journal of Islamic Finance and Banking
Rofiul Wahyudi
Universitas Ahmad Dahlan, Yogyakarta
Economics, Econometrics & Finance Social Sciences

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The Effect Of Debt-Based Financing And Equity-Based Financing On Islamic Banks Profitability In Indonesia Rofiul Wahyudi; Aulia Arifatu Diniyya; Julia Noermawati Eka Satyarini; Lu’liyatul Mutmainah; Sri Maulida
International Journal of Islamic Business and Economics (IJIBEC) Vol. 4 No. 2 (2020): IJIBEC VOL. 4 NO. 2 DECEMBER 2020
Publisher : Faculty of Islamic Economics and Business of UIN K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/ijibec.v4i2.2771

Abstract

This study's main objective is to investigate equity-based financing and debt-based financing of the profitability of Islamic banking in Indonesia. This research is expected to contribute to the theoretical and practical dimensions. On the conceptual aspect, this study can provide evidence of whether equity-based financing and debt-based financing affect the profitability of Islamic banking. While on the practical dimension, Islamic banks in Indonesia can determine the extent of their profitability and, in turn, the competitiveness of Islamic banks to enable it to be developed in line or even better than conventional banks. The data analysis technique uses panel data regression, which is time series data and cross-section. Next, to estimate the panel data model, which is divided into three, namely: common effect, fixed effect, and random effect. The result of this study that partially equity-based financing does not affect ROE. At the same time, debt-based financing influences the ROE of Islamic banks. Partially equity-based financing and debt-based financing do not affect ROA of Islamic banks. However, it simultaneously shows that the independent variable test results, namely equity-based financing and debt-based financing, have a strong influence on the dependent variable, namely, profitability as measured by ROA and ROE.
Analysis of Abnormal Returns Before and After the Announcement of the Merger of State-Owned Sharia Banks Indah Amalia Putri; Ferry Khusnul Mubarok Mubarok; Rofiul Wahyudi
AL-ARBAH: Journal of Islamic Finance and Banking Vol 3, No 2 (2021)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2021.3.2.10097

Abstract

AbstractPurpose - This study aims to examine the capital market's reaction to the merger of BUMN Syariah Banks, which is seen as abnormal returns at PT Bank BRI Syariah Tbk.Method - The data for this study were taken ten days before and ten days after announcing the BUMN Sharia Bank merger. The data was processed by paired sample t-test using SPSS.Result - Based on the analysis and discussion results, it shows that there is no market reaction to the announcement of the signing of the BUMN Islamic bank merger on BRIS shares as seen from the abnormal returns before and after the signing of the merger, which there is no significant difference.Implication - This can happen because the world is currently facing the COVID-19 pandemic, which causes market uncertainty. In addition, abnormal returns are not the only indicator to measure the wealth created by an event. Another factor that causes no significant difference in abnormal returns is that the data used in the event window research is daily and short enough to have no visible reaction. Furthermore, the issue of a merger has also been circulating before the announcement of the signingOriginality- This article examines abnormal returns before and after the announcement of the merger of State-Owned Sharia Banks 
Cointegration of Stock Market and Exchange Rate in Indonesia Pribawa E Pantas; Muhamad Nafik Hadi Ryandono; Misbahul Munir; Rofiul Wahyudi
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol. 2 No. 2 (2019)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/ijiefb.v2i2.886

Abstract

This study aims to determine the long-term relationship between stock market and exchange rate in Indonesia. The research method used is Johansen cointegration test. The results of this study found no cointegration between the variables tested. Thus the exchange rate, JII, and IHSG have no relationship in the long term. The fluctuation of the rupiah exchange rate in recent years did not generally affect the performance of stock indices especially after the global financial crisis of 2008. This shows the capital market in Indonesia has a good performance so that it is not so sensitive to the sentiment of the decline in the rupiah against the US dollar. This finding is in line with the findings of Syahrer (2010) which states the exchange rate has no effect on the stock market.
Financial Technology Regulation in Malaysia and Indonesia: A Comparative Study Aulia Arifatu Diniyya; Mahdiah Aulia; Rofiul Wahyudi
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol. 3 No. 2 (2020)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/ijiefb.v3i2.2703

Abstract

Introduction to The Problem: The era of innovation in information technology has emerged to ease daily commercial transactions. The innovation in financial technology has created numerous new business model to cater the customers’ need. This development needs a regulation and supervision to avoid chaos in the financial system. Particularly in Indonesia and Malaysia, which both countries were recorded by CCAF to be among the top countries in the ASEAN region by the number of fintech firms.Purpose/Objective Study: This study is aimed to analyze the financial technology regulation and supervision in Indonesia and Malaysia.Design/Methodology/Approach: The comparative study is conducted to compare the regulatory environment related to Digital payment, Equity Crowdfunding, P2P lending, Crypto Asset, Consumer protection, cybersecurity law and Islamic fintech in both countriesFindings: The study found that compared to Malaysia, Indonesia has lack of jurisdiction that protecting the customer from the cyber-attack which highly threatening the fintech industry. Both countries also treat ICO differently. Malaysia treats it under RMO guidelines, while Indonesia banned it as the method of payment but still allows the trading of ICO as a commodity under Commodity Futures Regulatory Agency.
Co-Authors Aulia Arifatu Diniyya Aulia Arifatu Diniyya Indah Amalia Putri Julia Noermawati Eka Satyarini Lu’liyatul Mutmainah Mahdiah Aulia Misbahul Munir Mubarok, Ferry Khusnul Muhamad Nafik Hadi Ryandono, Muhamad Nafik Pribawa E Pantas Sri Maulida