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Firm fundamentals and sectoral heterogeneity in Sharia-compliant stock return volatility: Evidence from Indonesia‎ Fithriyana, Rinda; Irfan, Andi; Sudirman, Wahyu Febri Ramadhan
Journal of Islamic Economics Lariba Vol. 11 No. 2 (2025)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol11.iss2.art12

Abstract

IntroductionThe volatility of stock returns in Islamic equity markets is a critical concern for both investors and policymakers. Islamic screening principles restrict excessive leverage and speculative activities, potentially shaping volatility in distinct ways compared to conventional markets. Understanding how firm fundamentals affect volatility within the Indonesia Sharia Stock Index is essential for evaluating the stability and competitiveness of Islamic capital markets.ObjectivesThis study aims to examine whether firm fundamentals, i.e. profitability, liquidity, leverage, size, growth, and asset turnover, systematically influence stock return volatility in Sharia‐compliant firms. It also seeks to identify cross‐sector heterogeneity in these relationships, highlighting whether specific industries are more sensitive to fundamental determinants of volatility.MethodThe research employs a quantitative design using a panel of 200 nonfinancial firms listed in the Indonesia Sharia Stock Index over the 2019–2023 period. Approximately 4,000 firm–quarter observations were analyzed. Volatility was modeled through panel generalized autoregressive conditional heteroskedasticity estimation, while Chow, Wald, and likelihood ratio tests were applied to assess sectoral heterogeneity. The study incorporated firm fundamentals as independent variables with sector‐specific models to capture industry differences.ResultsThe findings reveal that profitability and liquidity significantly reduce stock return volatility, while leverage consistently increases it. Firm size emerges as the most powerful stabilizer, growth contributes to higher volatility, and asset turnover lowers volatility. The magnitude of these effects varies across industries: Energy and Basic Materials show the strongest sensitivity to fundamental shocks, while Utilities and Healthcare display weaker responses. Statistical tests confirm substantial cross‐sector heterogeneity in the relationship between fundamentals and volatility.ImplicationsThe results demonstrate that Islamic screening principles, particularly restrictions on leverage, effectively mitigate excessive risk in Sharia markets. The study reinforces the relevance of Modern Portfolio Theory and Arbitrage Pricing Theory in Islamic settings while emphasizing the need for sector‐sensitive investment strategies. Portfolio managers and regulators may use these insights to refine risk management practices and enhance the resilience of Islamic equity markets.Originality/NoveltyThis study offers a novel application of panel GARCH modeling to explore cross‐sectoral heterogeneity in an Islamic equity universe. It contributes empirical evidence that firm fundamentals significantly and differentially shape volatility across industries, thereby advancing both Islamic finance scholarship and practical portfolio construction in Sharia‐compliant markets.
Pengaruh Work Life Balance dan Employee Engagement Terhadap Kinerja Karyawan PT. Japfa Comfeed Tbk. Unit Makassar Irfan, Andi; Risnawati, Risnawati; Syahrul, Andi; Jumaidah, Jumaidah
Innovative: Journal Of Social Science Research Vol. 4 No. 2 (2024): Innovative: Journal Of Social Science Research
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/innovative.v4i2.7884

Abstract

Penelitian ini bertujuan untuk Memahami bagaimana work-life balance dan employee engagement memengaruhi kinerja karyawan PT. Japfa Comfeed Tbk Unit Makassar. dalam penelitian ini, peneliti menentukan pengaruh  X1 (work-life balance) dan X2 (employee engagement) bagi Y (kinerja karyawan) dengan menerapkan teknik analisis data regresi linier berganda. Suatu studi tentang dua atau lebih variabel bebas mempunyai hubungan linier bagi satu variabel terikat. Sampel penelitian ini berjumlah 150 partisipan, menggunakan data primer, dan teknik regresi linier berganda serta uji hipotesis digunakan dalam proses analisis data. Hasil penelitian tersebut telah diuji validitas dan reliabilitasnya, metode analisis data menggunakan teknik analisis regresi linier sederhana dan uji hipotesis. Dari hasil penelitian ini menunjukkan bahwa work-life balance dan employee engagement mempunyai pengaruh positif serta signifikan secara simultan bagi kinerja karyawan. Artinya, meningkatnya kinerja karyawan dalam perusahaan dapat dipengaruhi oleh keseimbangan kehidupan kerja dan keterikatan karyawan.
THE DIRECTION OF CHANGE IN SUSTAINABILITY REPORTING DISCLOSURES ON EXTENSIVE AND MORE STANDARDIZED REPORTING Nurhayati, Lina; Irfan, Andi
J-MIND (Jurnal Manajemen Indonesia) Vol. 9 No. 1 (2024): J-MIND (Jurnal Manajemen Indonesia), Juni 2024
Publisher : LPPM Universitas Malikussaleh

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29103/j-mind.v9i1.15880

Abstract

In the direction of changes in extensive and standardized sustainability reporting, companies are expected to establish disciplined and credible sustainability reporting and disclosure programs using recognized frameworks such as the Global Reporting Initiative (GRI), Sustainability Accounting Standard Board (SASB), CDP, or DJSI. The future of sustainability reporting will involve transparent, clear and detailed reporting on sustainability issues, with a focus on strategy, implementation and performance measurement. The movement towards broader and more standardized sustainability reporting is driven by the need for transparent and meaningful ESG (Environment, Social and Governance) disclosures that drive value for stakeholders and public companies. The research method used in this study is literature examination, which involves collecting literature relevant to the topic, selecting the most related literature, organizing the literature based on topics, concepts, or themes, critical analysis and evaluation, and compiling the results by showing relationships and patterns. emerge from every literature. The results of this study can be used to assist companies in developing effective and credible sustainability reporting and disclosure programs.
Pengaruh Pelatihan, Disiplin Kerja, Dan Kompetensi Terhadap Kinerja Karyawan Pada PT Infomedia Solusi Humanika Di Kota Makassar Fajar, Muhammad Awal; Irfan, Andi; Hafipah, Hafipah
Innovative: Journal Of Social Science Research Vol. 4 No. 4 (2024): Innovative: Journal Of Social Science Research
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/innovative.v4i4.13072

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh Pelatihan, Disiplin Kerja, Dan Kompetensi Terhadap Kinerja Karyawan Pada PT Infomedia Solusi Humanika di kota makassar. Metode yang digunakan dalam penelitian ini adalah metode kuantitatif dengan jumlah responden 88 karyawan yang dijadikan sebagai sampel dengan teknik pengambilan sampel yaitu probabilitas atau sampel acak dengan teknik slovin, dimana teknik pengumpulan data menggunakan kuisioner. Analisis yang digunakan dalam penelitian ini adalah uji regresi linear berganda. Hasil penelitian ini secara parsial variabel pelatihan berpengaruh positif terhadap kinerja karyawan dengan nilai t-hitung > t-tabel (-6.245 > -1.662) dan nilai signifikan kurang dari 0,05 (0,000 < 0,05), variabel disiplin kerja berpengaruh positif terhadap kinerja karyawan dengan nilai t-hitung > t-tabel (6.351 > 1.662) dan nilai signifikan kurang dari 0,05 (0,000 < 0,05) dan variabel kompetensi berpengaruh positif terhadap kinerja karyawan dengan nilai t-hitung > t-tabel (2.833 > 1.662) dan nilai signifikan kurang dari 0,05 (0,006 < 0,05). Kata Kunci : Pelatihan, disiplin kerja, kompetensi dan kinerja karyawan
The Influence of Live Shopping on Consumer Purchase Decisions: Analysing the Role of Social Commerce in Indonesia’s Retail Sector Irfan, Andi; Yadin S, Andi Nur; Hafipah, Hafipah; Adi, Yusram
The South East Asian Journal of Management Vol. 19, No. 2
Publisher : UI Scholars Hub

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

Abstract

Research Aims: This study examines the influence of live shopping on consumer purchase decisions in Indonesia, focusing on key features such as interactivity, promotional urgency, and influencer marketing. It also investigates the mediating effect of consumer trust and the moderating role of social commerce experience. Design/Methodology/Approach: A quantitative approach was employed, using survey data from 265 Indonesian consumers who engage in live shopping. The analysis was conducted using Partial Least Squares Structural Equation Modelling (PLS-SEM) in SmartPLS. Research Findings: Interactivity, promotional urgency, and influencer marketing significantly impact consumer purchase decisions, both directly and indirectly through consumer trust. Promotional urgency exerts the strongest effect, emphasising the power of time-sensitive sales tactics. Social commerce experience moderates these relationships, with experienced consumers responding more strongly to live shopping strategies. Theoretical Contribution/Originality: This study expands the literature on social commerce by integrating live shopping elements into the S-O-R model and Trust Theory. It provides empirical evidence of how interactivity, urgency-driven promotions, and influencer credibility shape real-time purchase decisions. Managerial Implication in the South East Asian Context: Businesses in Southeast Asia should enhance live shopping by improving interactivity, leveraging urgency-based promotions, and strengthening influencer collaborations. Research Limitation & Implications: The study is limited to Indonesia, affecting its broader applicability. Its cross-sectional nature and self-reported data may introduce bias. Future research should explore regional differences, behavioural analytics, and longitudinal studies on evolving consumer behaviours in live shopping.
Implementasi Metode Simple Additive Weighting untuk Penilaian Kinerja Dosen STMIK Amika Soppeng Irfan, Andi; Hendrawansyah, Hendrawansyah; Salsabilah, Anugrah Batari Gading
Jurnal Manajemen Informatika, Sistem Informasi dan Teknologi Komputer (JUMISTIK) Vol 4 No 2 (2025): Jurnal Manajemen Informatika, Sistem Informasi dan Teknologi Komputer (JUMISTIK)
Publisher : STMIK Amika Soppeng

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70247/jumistik.v4i2.233

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ABSTRAK Penilaian kinerja dosen merupakan aspek penting dalam menjamin mutu pendidikan di perguruan tinggi. Di STMIK Amika Soppeng, proses penilaian kinerja dosen masih menggunakan Google Form, kemudian hasilnya direkap dan diolah menggunakan Microsoft Word. Proses ini tidak hanya memerlukan waktu yang cukup lama, tetapi juga beresiko menimbulkan kesalahan manusia serta kurang terstruktur. Oleh karena itu, dibutuhkan sistem informasi yang mampu mengelola penilaian kinerja dosen secara terintegrasi, sistematis, dan objektif. Penelitian ini bertujuan membangun sistem informasi berbasis web yang menerapkan metode Simple Additive Weighting (SAW) dalam proses perhitungan nilai penilaian. Metode Simple Additive Weighting (SAW) dipilih karena dapat menangani pengambilan keputusan multikriteria secara terukur berdasarkan bobot dan kriteria yang telah ditentukan. Sistem dikembangkan menggunakan model waterfall dan diuji menggunakan metode black-box untuk memastikan setiap fitur berfungsi dengan baik. Hasil implementasi menunjukkan bahwa sistem ini dapat membantu Lembaga Penjaminan Mutu (LPM) dalam melakukan proses input nilai, normalisasi, perhitungan akhir, pemeringkatan, hingga pencetakan laporan secara otomatis, akurat, efisien, dan dapat dipertanggungjawabkan. Kata Kunci: Sistem Informasi, Penilaian Kinerja Dosen, SAW, Web, Blackbox
Parcipatory Action Research: Peningkatan Potensi Ekonomi Itak Kalamai Produk Khas Masyarakat Pujud Irfan, Andi; Febria, Dessyka; Wulandari, Renny; Atika Fadilah, Siti
ABDINE: Jurnal Pengabdian Masyarakat Vol. 2 No. 2 (2022): ABDINE : Jurnal Pengabdian Masyarakat
Publisher : Institut Teknologi dan Bisnis Riau Pesisir

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52072/abdine.v2i2.448

Abstract

Itak Kalamai merupakan oleh-oleh khas Kepenghuluan Teluk Nayang Kecamatan Pujud yang terbuat dari ketan, santan, gula, biasanya dilakukan menjelang hari raya idul fitri secara gotong royong. Akhir-akhir ini terjadi pergeseran makna dari itak kalamai menjadi nilai ekonomis, tetapi potensi ini belum mampu dimaksimalkan oleh pelaku usaha tersebut. Pengabdian dilakukan di Kepenghuluan Teluk Nayang Kecamatan Pujud dan menggunakan Participatory action research Metode ini dilaksanakan melalui empat tahapan, yaitu: Perencanaan (plan), tindakan (action), pengamatan (observe), refleksi (reflect). Dalam implementasinya dilaksanakan produksi, pengemasan dan pemasaran melalui berbagai media. Hasil dari pengabdian adalah masyarakat diberi pengetahuan terkait kemasan dan cara pemasaran yang mampu memasarkan produk secara luas. Harapan dari pengabdi adalah pelaku usaha mampu mengaplikasikan pengetahuan yang diperoleh untuk kemajuan usaha dan meningkatkan perekonomian keluarga menjadi lebih baik.