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THE RELATIONSHIP BETWEEN EXCHANGE RATES AND ISLAMIC INDICES IN INDONESIA AND MALAYSIA Purbowisanti, Ratih
An-Nisbah: Jurnal Ekonomi Syariah Vol 4, No 2 (2018): An-Nisbah
Publisher : IAIN Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21274/an.2018.4.2.30-52

Abstract: This study is aimed to analyze the causal relationship between the exchange rates and Islamic indices in Indonesia and Malaysia, and the long-term relationship of the two variables. Indonesia is represented by the value of the rupiah to US dollar and the Jakarta Islamic Index while Malaysia is represented by the exchange rate of the ringgit to US dollar and the FTSE Bursa Malaysia Hijrah Shariah Index. By using the Vector Autoregression (VAR) model, it can be concluded that the relationship between Jakarta Islamic index is a unidirectional relationship, where the Jakarta Islamic Index affects the exchange rate. The relationship between Malaysia Islamic index has a bidirectional relationship, where the exchange rate affects the FTSE Bursa Malaysia ringgit Hijrah Shariah Index and FTSE Bursa Malaysia Hijrah Shariah Index affects the ringgit exchange rate. Through the study is also concluded that the exchange rate with Islamic indices in Indonesia and Malaysia has a long-term relationship.

Is the Relationship between Exchange Rates and Islamic Indices in Indonesia and Malaysia? Purbowisanti, Ratih -
An-Nisbah: Jurnal Ekonomi Syariah Vol 4, No 2 (2018): An-Nisbah
Publisher : IAIN Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21274/an.2018.4.2.30-52

This study is aimed to analyze the causal relationship between the exchange rates and Islamic indices in Indonesia and Malaysia, and the long-term relationship of the two variables. Indonesia is represented by the value of the rupiah to US dollar and the Jakarta Islamic Index while Malaysia is represented by the exchange rate of the ringgit to US dollar and the FTSE Bursa Malaysia Hijrah Shariah Index. By using the Vector Autoregression (VAR) model, it can be concluded that the relationship between Jakarta Islamic index is a unidirectional relationship, where the Jakarta Islamic Index affects the exchange rate. The relationship between Malaysia Islamic index has a bidirectional relationship, where the exchange rate affects the FTSE Bursa Malaysia ringgit Hijrah Shariah Index and FTSE Bursa Malaysia Hijrah Shariah Index affects the ringgit exchange rate. Through the study is also concluded that the exchange rate with Islamic indices in Indonesia and Malaysia has a long-term relationship. Keywords: Rupiah, Ringgit, Jakarta Islamic Index, the FTSE Bursa Malaysia Hijrah Shariah Index, VECM

PENERAPAN ARCH/GARCH UNTUK MERAMALKAN VOLATILITAS REKSA DANA CAMPURAN SYARIAH DAN REKSA DANA CAMPURAN KONVENSIONAL Purbowisanti, Ratih
At-tijaroh: Jurnal Ilmu Manajemen dan Bisnis Islam Vol 6, No 2 (2020): DESEMBER 2020
Publisher : Institut Agama Islam Negeri Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/tijaroh.v6i2.2344

Penelitian ini bertujuan untuk mengetahui perbedaan volatilitas antara reksa dana campuran syariah dan reksa dana campuran konvensional dengan permodelan ARCH dan GARCH. Data yang digunakan dalam penelitian ini adalah Nilai Aktiva Bersih (NAB) harian PT Danareksa Investment Management dari periode 2014 hingga 2018. Hasil penelitian ini menunjukkan hasil estimasi model yang terpilih pada reksadana campuran syariah dan reksa dana campuran konvensional adalah model GARCH (1,1). Berdasarkan nilai MAPE kurang dari 5% mengindikasikan bahwa hasil peramalan mendekati nilai aktual.Â Model GARCH(1,1) adalah model yang tepat untuk memprediksi NAB. Hasil penelitian ini juga menunjukkan bahwa volatilitas reksa dana campuran syariah lebih tinggi dibandingkan dengan reksa dana campuran konvensional.

FAKTOR YANG MEMPENGARUHI KEPUTUSAN UMKM SEKTOR PENGOLAHAN PANGAN UNTUK MENGAMBIL KREDIT TIDAK MENGAMBIL KREDIT DI KOTA YOGYAKARTA ratih purbowisanti purbowisanti
Optimum: Jurnal Ekonomi dan Pembangunan Vol 9, No 1 (2019)
Publisher : Universitas Ahmad Dahlan

This study aims to analyze the influence of financial literacy, gender, age, income level and length of business of the decision of SMEs in the food processing sector in Yogyakarta to take credit and not take credit. This study uses primary data obtained from 70 respondents 36 respondents who took credit and 34 respondents did not take credit and analyzed using logistic regression methods. The results showed partially independent variables in the form of financial literacy, gender, undergraduate education and income level had a significant effect on the dependent variable and the variables of age and business duration had no significant effect. Nagelkerke R Square value is 0.344 meaning that the financial literacy variable, gender, age, education level, income level and length of business can explain (the decision of SMEs to take credit is 34%. The remaining 66% is explained by other variables outside the model.

DO THE DISTRIBUTION OF ZAKAT AND ISLAMIC BANK FINANCING AFFECT INCOME INEQUALITY IN INDONESIA? Al Haq Kamal; Ratih Purbowisanti; Ageng Asmara Sani; Kusumaningdyah Retno Setiorini
AMWALUNA (Jurnal Ekonomi dan Keuangan Syariah) Vol 5, No 1 (2021)
Publisher : Univeristas Islam Bandung

This study aims to reveal empirically the extent to which Islamic economics contributes to Indonesia's economic equality. This study uses zakat distribution indicators and financing of Islamic banks as an instrument of income distribution in Islamic economics; GINI coefficients are indicators for measuring income inequality and using panel data with a cross-section of 12 provinces in Indonesia the 2011-2016 period. This study found that the distribution of zakat has a negative effect on income inequality and Islamic bank financing has a positive effect on income inequality.

The Influence of Plafond, Tenor, Application Process, and Loan Frequency on The Growth of Bank Syariah Indonesia's MSMEs Customers Viantina, Anisa Lia; Purbowisanti, Ratih; Ady Rahmanto, Dhidhin Noer; Ilmiah, Dunyati; Febriyanti, Novi
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022): INVEST - Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5405

Micro, Small, and Medium Enterprises (MSMEs) are essential to economic growth. However, the growth of MSMEs is constrained by difficulties in accessing capital. This study aims to determine the effect of the variable amount of financing (plafond), the application process, the repayment period (tenor), and the frequency of borrowing on the growth of MSMEs. This study uses a quantitative method with a sample of 80 respondents from Bank Syariah Indonesia branch office Sleman Prambanan customers. The sample selection used a purposive sampling technique with the criteria that Bank Syariah Indonesia branch office Sleman Prambanan customers were SMEs in the Yogyakarta and Klaten areas and used financing products such as BSI KUR Micro, BSI KUR Kecil, and BSI Super Micro. The analytical technique used is the classical assumption test, multiple linear regression analysis, t-test, F test, and the coefficient of determination with the help of SPSS software. The results show that the amount of financing (plafond) and the repayment period (tenor) have a positive effect. In contrast, the application process and the borrowing frequency do not positively affect the growth of MSMEs.

The Influence of Plafond, Tenor, Application Process, and Loan Frequency on The Growth of Bank Syariah Indonesia's MSMEs Customers Viantina, Anisa Lia; Purbowisanti, Ratih; Ady Rahmanto, Dhidhin Noer; Ilmiah, Dunyati; Febriyanti, Novi
Invest Journal of Sharia & Economic Law Vol. 2 No. 2 (2022)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v2i2.5405

Micro, Small, and Medium Enterprises (MSMEs) are essential to economic growth. However, the growth of MSMEs is constrained by difficulties in accessing capital. This study aims to determine the effect of the variable amount of financing (plafond), the application process, the repayment period (tenor), and the frequency of borrowing on the growth of MSMEs. This study uses a quantitative method with a sample of 80 respondents from Bank Syariah Indonesia branch office Sleman Prambanan customers. The sample selection used a purposive sampling technique with the criteria that Bank Syariah Indonesia branch office Sleman Prambanan customers were SMEs in the Yogyakarta and Klaten areas and used financing products such as BSI KUR Micro, BSI KUR Kecil, and BSI Super Micro. The analytical technique used is the classical assumption test, multiple linear regression analysis, t-test, F test, and the coefficient of determination with the help of SPSS software. The results show that the amount of financing (plafond) and the repayment period (tenor) have a positive effect. In contrast, the application process and the borrowing frequency do not positively affect the growth of MSMEs.

Investment Decision Making for Indonesian Gen Z in the Islamic Capital Market Cahya Ningrum, Anisa Risqi; Wicaksana, Ragil Satria; Wijayanti, Farah Nur Syafi'ah; Purbowisanti, Ratih
JESI (Jurnal Ekonomi Syariah Indonesia) Vol 15, No 1 (2025)
Publisher : Universitas Alma Ata

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

Introduction: The rapid growth of Indonesia’s Islamic capital market, particularly in the Special Region of Yogyakarta (DIY), is driven by technological advancements, improved investment literacy, and psychological factors such as financial self-efficacy. As digital natives, Generation Z holds significant potential to become Sharia-compliant investors. This study examines the effects of technological advancement, investment knowledge, and financial self-efficacy on investment decisions in the Islamic capital market, with investment interest serving as a mediating variable, grounded in the Theory of Planned Behavior (TPB).Methods: A causal-associative quantitative approach was employed, involving 100 Generation Z respondents in DIY who had prior experience in Islamic capital market transactions. Respondents were selected through purposive sampling, and data were collected via an online questionnaire. Data analysis utilized Partial Least Squares Structural Equation Modeling (PLS-SEM) to evaluate both direct and indirect relationships between variables.Results: Findings indicate that technological advancement, investment knowledge, and financial self-efficacy each have a significant positive effect on investment decisions. Technological advancement and financial self-efficacy also significantly and positively influence investment interest, while investment knowledge does not significantly affect investment interest. Moreover, investment interest mediates the relationship between technological advancement and financial self-efficacy with investment decisions, but not between investment knowledge and investment decisions. Measurement model assessment confirmed reliability and validity, with composite reliability exceeding 0.7 and Average Variance Extracted (AVE) values above 0.5.Conclusion: Technological advancement and financial self-efficacy are key drivers of both interest and decision-making among Generation Z investors in the Islamic capital market. In contrast, investment knowledge tends to directly influence decisions without enhancing interest. These findings highlight the importance of leveraging technology and strengthening financial confidence through practical education. Market regulators and industry players can use these insights to design targeted literacy programs and campaigns aimed at engaging young investors.

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