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Determinants of Islamic Bank Share Price Fluctuation During the Covid 19 Pandemic: The Case of BTPN Syariah Bank Shares Farhan Lauda; Resfa Fitri; Qoriatul Hasanah
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 13, No 2 (2021)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (376.287 KB) | DOI: 10.15408/aiq.v13i2.22479

Abstract

Abstract. The Covid-19 pandemic has caused a decline in the performance of the national economy. However, the share price of Islamic banks, especially the BTPN Syariah Bank (BTPS), has continued to grow. This study aims to identify and evaluate the variables affecting BTPS stock price fluctuation, using The Vector Error Correction Model (VECM). The results show that in the short term, only the Jakarta Composite Index variable had a significant effect on the stock price of BTPS. While in the long term, the variables of Price to Book Value (PBV), Trading Volume Activity (TVA), GDP, Bank Indonesia (BI) Reference Interest Rate, and the Jakarta Composite Index had a significant effect on BTPS stock price. Based on the Impulse Response Function (IRF) analysis, the stock price of BTPS responded negatively to shocks in GDP, TVA, and the exchange rate. Meanwhile, the shocks of Earning Per Share, PBV, BI Reference Interest Rate, and the Jakarta Composite Index were responded positively by BTPS share price. Based on the Forecast Error Variance Decomposition analysis, PBV gave the highest contribution in explaining the diversity of BTPS stock prices fluctuation.Keywords: Covid-19, BTPS Shares, VECM, Internal Factors, External FactorsAbstrak. Pandemi Covid-19 menyebabkan penurunan perekonomian nasional. Namun, harga saham bank syariah, khususnya saham PT. Bank BTPN Syariah (BTPS) tetap tumbuh. Penelitian ini bertujuan untuk mengetahui faktor yang memengaruhi perubahan harga saham BTPS, dengan metode Vector Error Correction Model (VECM). Hasil penelitian menunjukan bahwa dalam jangka pendek, hanya variabel Indeks Harga Saham Gabungan yang berpengaruh signifikan terhadap harga saham BTPS. Sementara pada jangka panjang, variabel Price to Book Value (PBV), Trading Volume Activity (TVA), PDB, Suku Bunga Acuan Bank Indonesia (BI), dan Indeks Harga Saham Gabungan berpengaruh secara signifikan terhadap harga saham BTPS.  Berdasarkan analisis Impulse Response Function (IRF), harga saham BTPS merespon negatif adanya guncangan PDB, TVA, dan nilai tukar. Sementara guncangan Earning Per Share, PBV, Suku Bunga Acuan BI, dan Indeks Harga Saham Gabungan direspon positif oleh harga Saham BTPS. Berdasarkan analisis Forecast Error Variance Decomposition, PBV memberikan kontribusi tertinggi dalam menjelaskan keragaman perubahan harga saham BTPS.Kata kunci: Covid-19, Saham BTPS, VECM, Faktor Internal, Faktor Eksternal
Analisis Pengambilan Keputusan Pembelian Kosmetik Berlabel Halal MUI pada Generasi Millenial Badriyyatus Sholikhah; Resfa Fitri; Yekti Mahanani
Al Maal: Journal of Islamic Economics and Banking Vol 2, No 2 (2021)
Publisher : Prodi Perbankan Syariah FAI UMT

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31000/almaal.v2i2.3754

Abstract

Millennial generation is consumption oriented generation. They are smart, trendsetter, and brand conscious. One of the products which is consumed by millennial generation is cosmetic products. Consumption of global halal cosmetics had a significant increased by 4.9 percent in 2018 or reached USD 64 billion where Indonesia is the second country as a global halal cosmetics consumer with a total expenditure of USD 4 billion. This study aims to analyze the factors influencing millennial generation in their decision to purchase halal MUI certified cosmetics. This research conducted in East Jakarta, Indonesia with 100 respondents. The method used in this research is logistic regression analysis. The result shows that halal knowledge, halal awareness, and brand image had a significant positive influence on the decision to purchase cosmetics labeled Halal MUI by the millennial generation of East Jakarta. It is expected that domestic cosmetic manufacturers will immediately certify and labeling halal MUI as a form of consumer protection. This is also important in increasing domestic cosmetic production, and to make Indonesia becomes manufacturer of halal cosmetic products.
Layanan Pesan Pendek untuk Pembangunan Pertanian di Kabupaten Karawang Haris Tri Wibowo; Djuara P Lubis; Resfa Fitri
Jurnal Komunikasi Pembangunan Vol. 13 No. 2 (2015): Juli 2015
Publisher : Institut Pertanian Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (520.001 KB) | DOI: 10.46937/13201513783

Abstract

Application of information and communication technology (ICTs)currently has integrated with agricultural development.  Information and communication technologies (ICTs) such as mobile phones have been used in rural development activities.  LISA is a groundbreaking program that aims to provide an integrated agricultural services include agricultural tips services, the interactive dialogue, and  iteration financial services based on mobile phone short message service. The main objective of this study to determine the effectiveness of LISA as agricultural information dissemination media based short message service role in agricultural development. The purposes of the study were 1) to analyze the exposure of LISA user; 2) to analyze the relationship between user characteristics and external factors against LISA’ exposure; 3) to analyze the relationship between LISA exposure against the effectiveness of communication; and 4) to analyze the relationship between interaction with other information sources against the effectiveness of communication.  The sample selection method used in the study was multiple stage sampling.  The sample included 100 LISA user in Karawang District. The data analysis was carried out using the descriptive correlational analysis and SEMpls.  The result showed that the land area cultivated respondent significantly affect LISA’ exposure. External factors do not significantly affect the LISA exposure.  LISA exposure significantly affect the effectiveness of communication. Interactions with other information sources does not significantly influence the effectiveness of communication.Keywords: short message service, LISA exposure, the effectiveness of communication
Komunikasi Pada Pelatihan Adaptasi Perubahan Iklim (Program Pelatihan CDCCAA Di Kecamatan Panguragan Kabupaten Cirebon) Afnida Shoffati Noorfajria; Djuara P Lubis; Resfa Fitri
Jurnal Komunikasi Pembangunan Vol. 13 No. 2 (2015): Juli 2015
Publisher : Institut Pertanian Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (476.679 KB) | DOI: 10.46937/13201513785

Abstract

Farmers have local wisdom passed down from generation to generation as a guide in farming activities. However, the existence of climate change makes them must be able to adapt to new agricultural patterns. They are required to know in advance the appropriate planting season in order to avoid crop failure later. Nonetheless, the farmers who are figure most susceptible to this problem are precisely not to have such knowledge. For these reasons the Ministry of Agriculture in collaboration with JICA (Japan International Cooperation Agency) create a training program that is devoted to improving the adaptability of farmers in the face of climate change named CDCCAA (Capacity Development for Climate Change Adaptation in Agriculture and Other Relevant Sectors). The present study was aimed to evaluate the factors that influence of the communications programs that are indicated by the farmers' knowledge about climate change, the attitude of farmers facing climate change and the farmers tendency to act after the training. Based on the survey of 50 trainees in the Panguragan Subdistrict Cirebon Regency, and SEM analysis it is known that the individual characteristics significantly influence the communication process CDCCAA training program, and cosmopolity factors have also significant influence on the behavior of farmers against the risk of climate change. In addition, the communication process not significantly influence with attitudes to climate change risk, and assessment of training rogram not significantly influence with communication process also.Keywords: climate change, process of communication , adaptation
Komunikasi Partisipatif dan Jaringan Komunikasi dalam Membangun Aksi Kolektif Perkumpulan Petani Pengguna Air (P3A) di Daerah Irigasi Papah Rizki Mila Amalia; Sarwititi Sarwoprasodjo; Resfa Fitri
Jurnal Komunikasi Pembangunan Vol. 15 No. 1 (2017): Februari 2017
Publisher : Institut Pertanian Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (742.813 KB) | DOI: 10.46937/15201722760

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The research background is government’s goal to achieve food self-sufficiency, but it is difficult to increase food production because of the water scarcity due to climatic anomalies, presumably may affect communication activities and collective action of groups that manages irrigation system at the grassroots level. The objectives of this research are to analyze the level of participatory communication and communication network in group, and also to analyze its impact to collective action rates. Research was conducted on Farmer Water Users Associations in irrigation area Papah, began in March to April 2016. The approach taken with qualitative method and designed as a census on the character of descriptive correlation. The result showed that good ability on dialogue and high chance of expressed aspirations, did not necessarily made the participation of members in collective action becomes high. Collective action find in P3A with difficulty in obtaining water for their farming activities in the dry season. Network density GP3A Papah is 1,4 percent, it means low interaction occurs among actors. Collective action would decrease in P3A with high-density network, because in these conditions would create a closed network and occurred high homogeneity of the information so new informations and innovations difficult to enter the network.Keywords : aspiration, collective action, communication network, dialogue
Analisis Prioritas Solusi Permasalahan Pengelolaan Wakaf Produktif (Studi Kasus Kabupaten Banjarnegara) Resfa Fitri; Heni P Wilantoro
AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (901.39 KB) | DOI: 10.29244/jam.6.1.41-59

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Waqf is one of the instruments in Islamic economics that can be used for development funding. In addition, waqf is also very potential to improve people’s welfare. In essence, the waqf is a matter that should be productively managed as contained in the hadith. However, it is currently in the opposite state. This study analyzes the priority of problems and solutions to optimize the management of waqf assets in Banjarnegara Regency, one of regencies in Central Java with highest poverty rate. Analytic Network Process (ANP) is the method used in this study. The result of the research shows that the main priority of human resource problem is the low managerial ability of the nazhir. The priority of institutional problem is the role of BWI Banjarnegara that is not yet optimal, while the priority of the government problem is the lack of support and role of the government. The priority solution of the most important problem is coaching and mentoring for nazhir.
The Impact of Islamic Financial Inclusion on Micro-Enterprises Capital: The Case of Sumedang Regency Mohammad Iqbal Irfany; Nur Wulan; Resfa Fitri
IQTISHODUNA IQTISHODUNA (VOL.18, No.2, 2022)
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (642.329 KB) | DOI: 10.18860/iq.v18i2.17118

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Financial inclusion is essential, especially for small and micro-enterprises who often experience issues accessing financial institutions. This inclusion aims to eliminate all financial barriers, including price and non-price, to public access to financial services to reduce societal inequality. This study aims to analyze the effect of Islamic financial inclusion on the capital growth of micro-enterprises in the Sumedang Regency. Employing descriptive analysis and SEM-PLS on primary data with 100 respondents from micro-enterprises who used financial services, the results show that respondents' average Islamic financial inclusion was 59 percent, above the national level. It also found that Islamic financial inclusion had a positive effect on the development of micro-enterprise capital, which indicates that people classified in the micro-business group have broad access to Islamic financial products and services might increase business capital. In addition, the influence of Islamic financial inclusion and mentoring variables on positive capital development means that any increase in the value of Islamic financial inclusion and mentoring will increase capital development.
Pengaruh Zakat dan Islamic Human Development Index terhadap Kemiskinan di Jawa Tengah Tahun 2017–2020 Asep Nurhalim; Lelly Mawarni; Resfa Fitri
AL-MUZARA'AH Vol. 10 No. 2 (2022): AL-MUZARA'AH (December 2022)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jam.10.2.185-196

Abstract

Human development and zakat funds are one of the efforts to minimize poverty. Human development can be measured using the Islamic Human Development Index (IHDI) indicator for countries or regions with a majority Muslim population. However, there is not much literature on IHDI and its application in Indonesia. This study aims to analyze the effect of zakat and IHDI on poverty in 35 districts/cities of Central Java in 2017–2020. The method used is panel data regression with random effect model estimation. The regression results show that zakat has a negative and significant effect on the poverty level in Central Java in 2017–2020, while IHDI has a negative but not significant effect. Simultaneously, zakat and IHDI have an influence on the poverty rate in Central Java in 2017–2020. One of the policy implications that can be done by the Central Java government to minimize the level of poverty is to increase the realization of the collection and distribution of zakat funds and cooperation from all related parties is also very necessary, including the government, zakat management institutions, banks, and the community.
Strategy for Developing the Concept of Halal Beach Tourism in Gunung Kidul Regency, Yogyakarta Resfa Fitri; Muhammad Wildan Syakuro; Mohammad Iqbal Irfany
AL-MUZARA'AH Vol. 11 No. 1 (2023): AL-MUZARA'AH (June 2023)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jam.11.1.87-101

Abstract

One sector that is currently being featured in Indonesia is the development of tourism including halal tourism. The concept of halal is trending ranging from culinary, fashion, cosmetics and even the tourism sector. Gunung Kidul Regency of Yogyakarta has the largest beach tourism area and has the potential to be developed into halal beach tourism. However, appropriate strategy for the development of halal beach tourism in Gunung Kidul Regency is still lacking. Study on the topic on the halal beach tourism is also still limited. This study aims to analyze the strategy for developing the potential of halal beach tourism in Gunung Kidul Regency using the Analytic Hierarchy Process (AHP) method and the Strengths, Weaknesses, Opportunities, and Threats (SWOT) approach. The results of this study show that strength is a top priority in developing halal beach tourism in Gunung Kidul Regency. The strategy priorities are: a) improvement of facilities such as prayer facilities and supporting facilities with the concept of halal beach tourism, b) expanding cooperation with various parties and synergies between beaches, c) improving the quality of human resources through training activities and introducing the concept of halal beach tourism, d) designing an integrated promotion and marketing strategy, and e) improvement of services and providing tour guides for tourists. This research implicates for the establishment of a halal certification policy for entrepreneurs as well as promoting clear regulations on halal beach tourism, especially in Gunung Kidul Regency.
Determinant of corporate social responsibility in Islamic banking based on the Islamic social reporting index Fanana Firdaus Salsabilah; Resfa Fitri
Journal of Islamic Accounting and Finance Research Vol 5, No 2 (2023)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2023.5.2.17597

Abstract

Purpose - This study aims to determine the level of CSR comparison in sharia-compliant banking based on the Islamic Social Reporting Index indicators and analyze the factors influencing its disclosure.Method - This study is quantitative research using secondary data. Population of this study is 9 Islamic Banks in Indonesia in 2017-2021. The selection of samples in this study used purposive sampling. The data were analyzed using Panel Data regression analysis, Classic Assumption test, F-test, and T-test.Result - The results showed that two of the four variables thought to have an impact on ISR disclosure are found to have a significant impact. In contrast to leverage, which has a negative but considerable impact on ISR disclosure, company age has a positive and significant impact. The other two factors (profitability and company size) had less of an impact on ISR disclosure.Implication - Islamic Commercial Banks in Indonesia suggest to improve the financial performance in Corporate Social Responsibility with Isamic Social Reporting Index.Originality - This is a study to prove the effect of corporate social responsibility disclosure on the annual report of Islamic banks using the Islamic Social Reporting Index indicator.