Article Per Year (5 Year)
p-Index From 2020 - 2025
0
P-Index
This Author published in this journals
All Journal IQTISHODUNA Jurnal Ekonomi Syariah Teori dan Terapan
Leo Herlambang, Leo
Airlangga University
Economics, Econometrics & Finance

Published : 10 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 10 Documents
Search

 1 
Pengaruh Kurs Rupiah Terhadap Indeks Harga Saham (Studi Pada Indeks Saham Syariah Indonesia Periode 2011-2013) Saputra, Imam Dwi; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 1, No 12 (2014): Desember-2014
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (226.257 KB)

Abstract

Sensitivity of stock market is appeared when the domestic currency exchange rate fluctuations happened. Uncontrolled currency fluctuations will affect the performance of capital market entities which have an impact on stock price movement. This thesis is to determine the effect of exchange rate on ISSI stock price index in the 2011-2013 periods.This thesis uses a quantitative approach to analyze secondary data whichrepresented by exchange rate and ISSI stock price index. Those values are monthly data over the period 2011-2013. This thesis also uses a significance level of 5%.The regression result in this thesis indicates that the exchange rate variable has a significant effect partially on ISSI stock price index in the 2011-2013 periods.
Pengaruh Current Ratio (CR) dan Net Profit Margin (NPM) Terhadap Return Saham Syariah (Studi Pada Perusahaan Pertambangan Yang Terdaftar Dalam Jakarta Islamic Index Periode 2008-2012) Daruyudhasena, Gian; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 1, No 11 (2014): November-2014
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

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

Abstract

The purpose of this research is to investigate the significant effect of the variables current ration and net profit margin partially and simultaneously to the return of sharia stock on mining companies that were listed on Jakarta Islamic Index period 2008-2012). The approach that is used is multiple regression analysis technique with two variables current ratio and net profit margin as exogenous variable and return of stock as endogenous variable. The companies that are used for this research are Adaro Energy Tbk, Aneka Tambang Tbk,Borneo Lumbung Energi & Metal Tbk, Bumi Resource Tbk, Elnusa Tbk, Energi Mega Persada Tbk, Harum Energy Tbk, Vale Indonesia Tbk, Indo Tambangraya Megah Tbk, Tambang Batubara Bukit Asam Tbk, Timah Tbk. The data that is used is a secondary data. All data are gathered from the annual financial report of the period 2008-2012.The result is current ratio and net profit margin are insignificant neither partially nor simultaneously to the return of stock.
Perbedaan Return Saham Pada Monday Effect di Bursa Efek Indonesia (Studi Pada Emiten Yang Masuk Dalam Perhitungan JII Selama Desember 2013 - Mei 2014) Nugraha, Wildan Aditya; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 2, No 9 (2015): September-2015
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (352.755 KB)

Abstract

Monday effect is an information used by investors to adjudge their investment decision in accordance with some conditions. The condition is able to make changes into stock supply and demand. The change of stock supply and demand generate fluctuating stock return. The purpose of this research is to analyze the reaction of sharia capital market over the Monday effect depicted by the difference of stock return before and after Monday.This research uses event study approach, applied to JII listed issuers in December 2013 – May 2014. The 5-days observation period was used in this research which is consist of t-2 (2 days before Monday), t-0 (event date), t+2 (2 days after Monday). The hypothesis test was ran through paired sample t-test.In accordance with the statistic test result using significant rate (α) 5%, the probability of this research was 0,001 depicting the difference of stock return before and after Monday.
Perbedaan Likuiditas Saham Sebelum dan Setelah Penerapan Keputusan Perubahan Satuan Perdagangan (Studi Pada Emiten di JII) Riskyta, Mirza Dewi; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 2, No 3 (2015): Maret-2015
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (714.375 KB)

Abstract

Application of unit trade change decision is one that can be used as balance information for the investors to take an investment decision. Investors must be able to analyse the signal of any information regarding the application. That signal can change of supply and demand’s shares. This study aims to find out the reaction of stock liquidity on application of unit trade change decision indicated by the difference of Trading Volume Activity (TVA) and Transaction Frequency Activity (TFA) on before and after the application of trade change decision. This study use event study approach held on 30 emiten of stock listed on Indonesia Stock Exchange period December 2013 – May 2014. This study use observation period for 11 days, are t-5 (five days before the application), t-0 (event date), and t+5 (five days after the application). Hypothesis test use paired t-test. The result based on statistical test with significance level (α) = 5% produce probability value 0.599 for TVA and 0.121 for TFA. Based on these result, it can be concluded that there is no significant difference between TVA and TFA on before and after the application of trade change decision.
Pengaruh Kinerja Keuangan Terhadap Return Saham (Studi Pada Emiten Saham Syariah Sektor Manufaktur Yang Terdaftar di Indeks Saham Syariah Indonesia Tahun 2011-2012) Roslianti, Rizkary; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 1, No 7 (2014): Juli-2014
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (664.083 KB)

Abstract

Islamic stocks is one of the most preffered investment type by Muslim investors. In the decision making process, the investors have to considered the financial reports and stock analysis. This study aims to investigate the effect of fundamental factors that represented by Return on Assets, Debt to Equity Ratio and Total Assets Turnover toward stock return.This study used a quantitative approach using secondary data, they are financial statements and stock return companies listed on Indeks Saham Syariah Indonesia years 2011-2012. This study used a significance level of 5%.Based on the regression analysis results, it indicates that Return on Assets variable has a very significant effect on the stock return. On the other hand, Debt to Equity Ratio variable and Total Assets Turnover variable do not have significant effect to the stock return. Simultaneously, Return on Assets, Debt to Equity Ratio and Total Assets Turnover have significant effect to stock return.
Reaksi Pasar Atas Stock Split Pada Emiten Saham Syariah di Bursa Efek Indonesia Periode 2011-2014 Jasmine, Aldila Vania; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 2, No 8 (2015): Agustus-2015
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (324.857 KB)

Abstract

The aims of this study are to identify and explain the market reaction as the result of corporate action in the form of stock split managed by the stock issuers registered with Jakarta Islamic Index and Indonesia Sharia Stock Index from period 2011 to 2014.This study used quantitative approach with event study method. Those stock issuers also have to perform the stock split and have been registered with ISII and JII to fulfill the requirements of this study. While the focus of this study is the reaction indicated by the change of AAR and CAAR by doing several test such as one sample t-test and paired sample t-test by defining the level of significant in the amount of 5%.The results of the study indicate there is no significance difference in the AAR before and after the stock split, but there is a quite significance difference in the CAAR.
Reaksi Pasar Atas Penerbitan Sukuk (Studi Pada Emiten Saham Penerbit Sukuk Periode 2008-2012) Fatimatuzzahra, Vita; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 1, No 5 (2014): Mei-2014
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (185.47 KB)

Abstract

Issuance of Sukûk’s corporation, it can be an opportunity for many companies to become proponent necessity for funding and business expansion. Sukûk publication announcement is an information for investors in order to assess it based on their investment decisions. In order to get the investment decisions, investors often based on the signals that had been given by the company. That signal can caused the changes of demand and supply’s shares. This study aims to find out the reaction of the stock from the Sukûk publication as indicated by the presence of abnormal returns around the date of publication and the Trading Volume Activity (TVA) difference which is occured before and after Sukûk publication.This study uses event study approach, it carries out on 11 issuer stock of Sukûk publisher which is listing in Indonesia Stock Exchange period : 2008-2012. This study also uses observation period for 81 days, they are t - 10 (70 days before publication), t - 0 (event date) and t +10 (10 days after publication). The hypothesis calibration of this thesis uses a one sample t - test and paired t - test.The results of this study is based on a statistical test with a significance level (α) = 5 %resulted AAR which was in a significantly positive on t - 2 at 0.03711 and significantly negativeat t +9 of 0.03. In contrast with TVA, the statistic results showed probability value of 0.026,which means there is a significant different of trading volume activity before and after ofSukûk publication. The lack of information about Sukûk also caused there is significant AARreaction only in some poriods of observation and significant negative TVA .
Reaksi Pasar Atas Pemilu Presiden 2014 (Studi Pada Emiten Yang Listing di Jakarta Islamic Index) Kurniawati, Astuti; Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 2, No 3 (2015): Maret-2015
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (250.926 KB)

Abstract

The results of the presidential elections can provide a signal for investors to make decisions to invest. The purpose of this study was to determine the market reaction to the results of the presidential elections. Market reaction in this study is indicated by the presence of abnormal returns around the announcement date and the difference in trading volume activity before and after the announcement. This study is a quantitative research by using event study method with 25 issuers that listed on the Jakarta Islamic Index during the study period. The study was conducted during the 121 days consisting of 100-day estimation period and 21-day observation period. Statistical calculation in this study showed insignificant results both in the AAR and TVR. It means there is no impact from the announcement of the presidential election’s result because the investors may have been anticipating the result of the announcement.
Analisis Reaksi Pasar Atas Pengumuman Cum Dividen (Studi Pada Saham Yang Terdaftar di Jakarta Islamic Index Tahun 2012-2013) Herlambang, Leo
Jurnal Ekonomi Syariah Teori dan Terapan Vol 2, No 1 (2015): Januari-2015
Publisher : Jurnal Ekonomi Syariah Teori dan Terapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (231.268 KB)

Abstract

Cash dividends is one of the corporate action that contains information related to the companys performance and signal to investors about the companys prospects. This internal information of the company will affect the investment decisions of investors. The reaction of investors in the market will lead to changes in demand and supply of common stocks around the cum-dividend date. This study aims to determine the reaction of the Islamic capital market as indicated by the change in abnormal return around the cum-dividend date.This study uses event study approach, carried out on 30 issuers listed on the JII during 2012-2013 who pay cash dividends. The period of observation in this study was for 29 days, starting 14 days before the event date to 14 days after the event date. This study uses one-sample test in hypothesis testing.The results based on the statistical test showed significant variables caar AAR and on some days around cum dividedn date. These results indicate that there is a market reaction around cum dividend.
PERAN PEMBERDAYAAN EKONOMI MELALUI SKIM QARDHUL HASAN TERHADAP PENGEMBANGAN USAHA MUSTAHIQ (STUDI KASUS PADA AL-AZHAR PEDULI UMAT) Herlambang, Leo; Cahyono, Eko Fajar; Widiastuti, Tika
IQTISHODUNA IQTISHODUNA (VOL 11, NO: 2.
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/iq.v11i2.3707

Abstract

The purpose of this study was to determine the role of economic empowerment throughqardhulhasan’ skim against mustahiq business development at Al Azhar Caring Ummah (APU Foundation).  QardhulHasanis a financial product for micro businesses that do not provide financial benefits for the lender.Qardhulhasanfunds managed Al Azhar Care for People (APU Foundation) came from zakat, infaq, charity Islamicbanking.Economic empowerment of Al Azhar that carried the People Concerned role in business developmentprogram mustahiq dam frame a million defenseless. The program use to improve the local economy and buildmicro-economic resilience and make bankable for the mustahiq
Co-Authors Aldila Vania Jasmine, Aldila Vania Astuti Kurniawati Eko Fajar Cahyono, David Kaluge Gian Daruyudhasena, Gian Imam Dwi Saputra, Imam Dwi Mirza Dewi Riskyta, Mirza Dewi Rizkary Roslianti, Rizkary Tika Widiastuti Vita Fatimatuzzahra, Vita Wildan Aditya Nugraha, Wildan Aditya