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Precision of the models of Altman, Springate, Zmijewski, and Grover for predicting the financial distress Husein, M. Fakhri; Pambekti, Galuh Tri
Journal of Economics, Business, and Accountancy Ventura Vol. 17 No. 3 (2014): December 2014
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v17i3.362

Abstract

Financial distress models need to be developed as a model of an early warning system. Such an effort is intended to anticipate the conditions that can lead to the bankruptcy of the company. This study aims to analyze the accuracy of the model of Altman, Springate, Zmijewski, and Grover as the best predictor of financial distress. This research is a quantitative study in which the data were collected by means of a data pool. This is done by using a dummy variable. The sample consists of 132 companies which are listed on the list of Daftar Efek Syariah (DES) in 2009-2012. The analysis isdone by using an analytical tool that is a Binary Logistic Regression. It shows that the model of Altman, Zmijewski models, Springate, and Grover can be used for prediction of financial distress. However, the model of Zmijewski is the most appropriate model to be used for predicting the financial distress because it has the highest level of significance compared to the other models. Zmijewski model is used for having more emphasis on the leverage ratio as an indicator of financial distress.
ROSCAs THROUGH THE ISLAMIC COMMUNITY: AN ALTERNATIVE TO ENHANCING ENTREPRENEURSHIP AND WEALTH Pambekti, Galuh Tri; Yusfiarto, Rizaldi; Nugraha, Septy Setia
Journal of Islamic Monetary Economics and Finance Vol. 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1371

Abstract

The purpose of the study is to analyse the influence of the motives and benefits of participation in Rotating Savings and Credit Associations (ROSCAs) on household wealth and entrepreneurship through mediating community commitment. Structural equation modeling (SEM) was used on the data collected using purposive sampling and a sample of 225 respondents in the provinces of East Java, Central Java, West Java, D.I. Yogyakarta, and D.K.I. Jakarta. The results show that ROSCAs have a direct effect on entrepreneurial intention and may affect household wealth. It is also concluded that ROSCAs can be an instrument of Islamic social finance, as their characteristics are not burdensome to members. They involve the principle of cooperation, and are not affected by interest rates or inflation. Acknowledgment The authors would like to thank Bank Indonesia Institute, Bank Indonesia, for the funding that made this study possible.
MUSLIM WOMEN SWITCHING INTENTION TO HALAL COSMETIC: PUSH-PULL-MOORING MODEL APPLICATION Pambekti, Galuh Tri; Nugraha, Septy Setia; Yusfiarto, Rizaldi
Journal of Islamic Monetary Economics and Finance Vol. 9 No. 2 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i2.1633

Abstract

This study focuses on the factors that contribute to switching intentions from non-halal cosmetics to halal cosmetics by Muslim women in Indonesia. Using a questionnaire and purposive sampling, we compile data from a total of 236 women who use halal cosmetics and then apply the SEM-PLS for data analysis. The results show that the pull effect significantly affects Muslim women's intention to switch to halal cosmetics and is moderated negatively by switching costs. By contrast, the push effect doesn’t significantly affect the intention to switch to halal cosmetics. In addition, halal awareness and switching costs directly affect Muslim women's switching intentions from non-halal to halal cosmetics. Acknowledgment The authors would like to thank Bank Indonesia Institute, Bank Indonesia, for the funding that made this study possible.
Cash Waqf Behavior: Explaining Financial Consciousness and The Moderating Role of Religiosity Lestari, Irna Puji; Pambekti, Galuh Tri; Annisa, Arna Asna
Muslim Business and Economics Review Vol. 2 No. 1 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i1.155

Abstract

The role of cash waqf in empowering the economy of Muslims needs to be continuously improved. This study assesses individuals’ behavior towards cash waqf from a behavioral finance perspective by proposing four elements of financial consciousness: financial locus of control, financial capability, financial willingness, and financial sophistication in encouraging cash waqf behavior. This study also investigates the moderating role of religiosity as a Muslim-specific internal factor. Data was collected from a questionnaire of 337 Muslim government employees in the Ministry of Religious Affairs of Indonesia. The Partial Least Square was used to analyze the data. The findings show that financial locus of control, financial capability, financial willingness, financial sophistication, and religiosity have a significant positive influence on individual behavior towards cash waqf. The findings also suggest that religiosity moderates the financial locus of control, as well as financial sophistication, on cash waqf. This implies that initiatives to increase Muslim participation in cash waqf should be embedded in behavioral finance patterns through a combination of financial consciousness and religiosity.