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All Journal Economic Journal of Emerging Markets IJIBE (International Journal of Islamic Business Ethics) Proceeding SENDI_U PROSIDING SEMINAR NASIONAL CENDEKIAWAN Jurnal Manajemen Pelayanan Publik Jurnal Ilmiah Ekonomi Islam Al-Muzara'ah Dinamisia: Jurnal Pengabdian Kepada Masyarakat Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Aptisi Transactions on Technopreneurship (ATT) Jurnal Ekonomi Bisnis Indonesia Indonesian Journal of Accounting and Governance Meteor STIP Marunda El-Barka: Journal of Islamic Economics and Business Jurnal Wacana Ekonomi Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam Community Empowerment Devotion: Journal of Research and Community Service Jurnal Ketenagakerjaan Sibatik Journal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan El-Ecosy : Jurnal Ekonomi dan Keuangan Islam PENANOMICS: INTERNATIONAL JOURNAL OF ECONOMICS Business and Entrepreneurial Review Journal of Tax Law and Policy Media Riset Akuntansi Auditing & Informasi Indonesian Management and Accounting Research Media Ekonomi Scientium Law Review Ekonomi Digital Dharma Ekonomi Enrichment: Journal of Multidisciplinary Research and Development Dirkantara Indonesia Gudang Jurnal Multidisiplin Ilmu International Journal of Economics and Management Sciences International Journal of Economics, Management and Accounting Green Inflation: International Journal of Management And Strategic Business Leadership Suhuf: International Journal of Islamic Studies Indonesian Journal of Accounting and Governance
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PENGARUH SATUAN PENGAWASAN INTERN (SPI) TERHADAP UPAYA PENINGKATAN KINERJA PD. PERKEBUNAN PROPINSI SUMATERA UTARA Muhammad Zilal Hamzah; Musa Ritonga
Media Riset Akuntansi, Auditing & Informasi Vol. 6 No. 3 (2006): Desember
Publisher : LEMBAGA PENERBIT FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS TRISAKTI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1977.446 KB) | DOI: 10.25105/mraai.v6i3.921

Abstract

The purpose of this research is to find the influence of internal control unit toward the effort on increasing of finn performance and to know some factors which cause the lack of recommendation. The analisys done by using financial data in the last 5 years (2000-2004) including: productivity report, effectivity report, efficiency report and Return on Investment (R01) report. The results show that production of oil palm tree and natural rubber, effectivity of oil palm tree and natural rubber, efficiency of oil palm tree and ROI have significance influence toward firm performance simultaneously. Otherwise, production of natural rubber gives positive influence but insignificance toward firm performance, if tested partially. Generally, internal control unit has done its job in Perusahaan Daerah (PD) Propinsi Sumatera Utara.Keywords : internal control unit, productivity efficiency, Return on Investment (ROI).
ANALISIS PENGARUH EARNING, CASH FLOW, NILAI BUKU, DAN NILAI PASAR TERHADAP PERGERAKAN STOCK RETURN PADA SAHAM LQ-45 DI BURSA EFEK JAKARTA Muhammad Zilal Hamzah
Media Riset Akuntansi, Auditing & Informasi Vol. 7 No. 1 (2007): April
Publisher : LEMBAGA PENERBIT FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS TRISAKTI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (917.701 KB) | DOI: 10.25105/mraai.v7i1.925

Abstract

The objective of this study is to know the relationships and significant effect between earning, cash flow, book value and market value toward stock return. The samples for this study consist of 26 companies that consistently exist in LQ-45 in Jakarta Stock Exchange.A multiple linear regressions is used to determine whether independent variable effect significantly. This study shows that earning and cash flow positive and significantly affect stock return. Book value is positive and insignificant affect stock return. Meanwhile, market value is significantly but negative relation with stock return. This study also find the low earning growth and high earning growth of firms affect to stock return. The finding of this study also suggest that more external various factors can be consider in influence stock return.Keywords: earning, cash 'low, book value, market value, stock return.
DOES FINANCIAL STATEMENT PUBLICATION EFFECT STOCK PRICE OF LQ-45 AT JAKARTA STOCK EXCHANGE Muhammad Zilal Hamzah; Ihsanul Fatta
Indonesian Management and Accounting Research Vol. 6 No. 2 (2007)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (142.657 KB) | DOI: 10.25105/imar.v6i2.967

Abstract

This article is purposed to know empirically wheather there is difference between stock price before and after the publicizing of financial statement of LQ-45 companies, listing at Jakarta Stock Exchange. Sample and data used in this analysis is all LQ-45 companies and 10 days stock price before and after financial statements are published. The finding shows that six variables such as return on equity, return on investment, price book value, price earning ratio, quick ratio and current ratio have significant and insignificant relationship toward stock price. According to the estimation can be concluded that all of those variables influence stock price 99.5% and however, most investor at Jakarta Stock Exchange are not consider to fundamental and internal factors in decision making process to buy or to sell a stock.Jel Classification: Keywords: Financial Statement, LQ-45 Stock Price
THE EFFECT ANALYSIS OF MACRO-ECONOMIC VARIABLES TOWARD INDONESIAN ISLAMIC STOCKS RETURN Muhammad Zilal Hamzah; Tubagus Irmansah; Isnaini Mukti Azis
Indonesian Management and Accounting Research Vol. 13 No. 2 (2014)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (932.194 KB) | DOI: 10.25105/imar.v13i2.1158

Abstract

 This study aims to determine the effect of macroeconomic variables on returns of Indonesian Islamic stocks (Jakarta Islamic Index). The sample data uses are returns of the Islamic stock index from 2005:01 - 2010:04. This study uses Ordinary Least Square (OLS) method and the application of panel data to assess the existence of any effect of the macroeconomic variables on stock returns of the Indonesian Islamic stocks. The results of this study exhibit that the Islamic stock returns are significant simultaneously, but insignificant partially.Keywords: macroeconomic variables, Islamic stock returns 
THE EFFECT OF LOCAL AUTONOMY POLICY AND BUDGET ALLOCATION TOWARD THE CAPITAL EXPENDITURE SHARE IN INDONESIA Muhammad Zilal Hamzah; Tatok Djoko Sudiarto
Indonesian Management and Accounting Research Vol. 13 No. 1 (2014)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1042.507 KB) | DOI: 10.25105/imar.v13i1.1164

Abstract

Today, regional autonomy policy in Indonesia has been running for 12 years. This policy is generally expected to bring a good change to the Indonesian macroeconomics conditions and in particular for the regional economy, can be more independent in the revenue and in the allocation of the budget, which in turn is expected to improve the welfare of its people. This study aimed to examine the effect of regional autonomy, the budget allocation for education, health, housing, foreign aid, tax and salaries share toward the capital expenditure share. This study uses panel data by years of research 1990 - 2011 and consists of a cross section 26 provinces. Based on the results of the study by using a random effect model, statistically the result find the budget allocation for education, housing, health, salaries, foreign aid has a significant effect on the share of capital expenditure, while for regional autonomy and tax share has no effect a significant share of the capital expenditure.Keywords: regional autonomy, the capital expenditure share.
Searching for Saving Effects of Fiscal Policy : Evidence from Muslim Countries Muhammad Zilal Hamzah; Abd. Ghafar b. Ismail
Indonesian Management and Accounting Research Vol. 12 No. 2 (2013)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (701.544 KB) | DOI: 10.25105/imar.v12i2.1169

Abstract

The studies on the effects of fiscal policy on the macroeconomic variables are well documented. But, the focus is only concentrated on interest rates, consumption, investment and economic growth. Based on a panel data model, this paper investigates whether the fiscal policy has an effect on national saving in Muslim countries. We will show that the response of national savings to fiscal policy are not limited to large fiscal contractions, but also, high or rapidly growing public debt may appear to be a good predictor of those affects. We also find that, in Muslim countries, the size and significance of the interaction terms are again stronger during expansions than during contractions.JEL classification: E21; E62; H31Keywords: fiscal policy; national saving; Muslim countries
DYNAMIC PATH OF WORKING STATUS CATEGORY IN INDONESIA : A TAWHID STRING RELATION (TSR) PERSPECTIVE Muhammad Zilal Hamzah; Jadi Suriadi
Indonesian Management and Accounting Research Vol. 11 No. 1 (2012)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1094.781 KB) | DOI: 10.25105/imar.v11i1.1177

Abstract

The core objective of this paper is to show and evaluate evidence of working status of people under labor forced in Indonesia within one and half decade recently. As well understood that labor forced had been classified under working status category namely self employment, micro-entrepreneurs, medium and large entrepreneurs formal employed, informal employed and unemployment. Methodology of tawhid string relation (TSR) called to elaborate, identify and evaluate the cased in holistic manner under light of Oneness of God.Design/Methodology/approach-This paper presents the data of Indonesian semi annual labor forced survey from National Statistic Bureau (BPS) within 1994 to 2011. The collected data, quantitatively is presented into working status category. It will be evaluated by TSR method.
The Analysis of Determinant Factors of Poverty And Its Effect Toward Economic Development of Islamic Society : Case Study at Serdang Bedagai Regency At North Sumatera Province Muhammad Zilal Hamzah; Zainuddin Siregar
Indonesian Management and Accounting Research Vol. 11 No. 1 (2012)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (770.159 KB) | DOI: 10.25105/imar.v11i1.1179

Abstract

in the last two decades. Indonesia has experienced contrasting episodes in terms of economic growth and changes in the pm erty rate. Prior middle 1980s until middle 19903. Indonesia experienced a high economic growth and a rapid reduction in poverty. During the economic crisis period of 1997-1999, however. the economy contracted substantially and poverty increased signit‘lcantly. wiping out many years of progress. Post-crisis. economic growth slowly recovered. but the poverty rate declined much faster falling to below the pre-crisis level. These contrasting episodes of growth and poverty trends provide the opportunity to empirically assess the relationship between economic development and poverty. Study of this relationships. usually divide the economy into three sectors: agriculture. industry. and services. The mechanism ofthe relationships between economic development and change in poverty must be better understood in order to formulate the most effective strategy for poverty reduction through macroeconomic policy. Therefore. this research tries to examine more specific than previous studies. that is the effect ofdetemiinant factors (such as: level of fonnal education. level ofsocial economic. agriculture land ownership. lslamicjob tradition) ofpm erty toward economic development. This research is done at Serdang Bedagai Regency at North Suimatera Province. The research hypothesis states that [m el of formal education and agriculture land ownership effect economic development significantly. Otherwise. level of social economic and Islamic job tradition insignificantly effect economic developmentKeywords: level of formal education. level of social economic. agriculture land ownership. Islamic job tradition, poverty. economiy development.
Fiscal Decentralization Generates Economic Growth: Evidence from Province-Level Cross-Section Data for Indonesia Jhon Talbu Ritonga; Muhammad Zilal Hamzah
Indonesian Management and Accounting Research Vol. 5 No. 1 (2006)
Publisher : Universitas Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (973.611 KB) | DOI: 10.25105/imar.v5i1.1270

Abstract

Recently, fiscal decentralization, which involves the devolution of government fiscal responsibilities to lower levels of government, has been discussed in many developed and developing countries. In particular, the effect of fiscal decentralization on economic growth is a key issue in recent theoretical and empirical studies in public finance. The empirical evidences produce mixed results. In this study, the effect of fiscal decentralization on economic growth in a sample of several provinces will be explored. A province study offers several advantages: a bigger sample of data is available for province than for Indonesia; and panel data estimation is able to adjust the cultural, historical, and institutional differences and also to capture the local heterogeneities. By adopting a production-function-based estimation framework, the empirical estimation is done on a sample of cross section data that comprises of 26 province governments and the time series yearly data from 1992 to 2002. The Generalized Least Square method is used to test these data. The results indicate that: first, the fiscal decentralization variables (expenditure indicator) show the positive and significant coefficients, while, the revenue indicator shows the negative relationship with economic growth. Hence, several policy implications can be derived; i.e, the local government should be able: to increase their non taxes revenues; to create conducive conditions for capital inflows; and to develop a clear framework for fiscal decentralization assignment such as income redistribution and borrowingJEL classification: E60; E62; H62; H63; 04Keywords: province government financing; fiscal decentralization;localautonomy;fiscal policy; economic growth; cross-province data;
FINTECH PEER-TO-PEER LENDING SEBAGAI PELUANG PENINGKATAN UMK DI INDONESIA Suci Romadhona; Muhammad Zilal Hamzah; Eleonora Sofilda
Media Ekonomi Vol. 26 No. 2 (2018): Oktober
Publisher : Lembaga Penerbit Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (326.528 KB) | DOI: 10.25105/me.v26i2.5219

Abstract

This research was conducted to determine the effect of the factors driving MSEs in making loans to peer-to-peer lending companies. Factors that are considered by MSEs in seeking financial resources through peer-to-peer lending are loan processes, interest rates, loan processing costs, loan amounts, and loan application flexibility. These five factors will then be used as independent variables to see behavioral intentions and the actual use of a peer-to-peer lending platform. This research method uses Structural Equation Modeling (SEM) and WrapPLS 6.0 test equipment. The results of this study found that the loan process had no significant effect on behavioral intentions and other factors had a positive influence and the highest factor affected MSEs borrowing on this platform was the flexibility of loan applications. With the aspirations of MSEs, peer-to-peer lending companies in Indonesia can improve services so that business capital loan transactions increase and advance the economy of MSEs in Indonesia.
Co-Authors Abd Rahman, Nur Hayati Abd. Ghafar b. Ismail Abdul Yusuf Agus Sriyanto Agus Susanto, Eko Ahmad Ahmad Airin Devanty Andhika Suparjan Ardhiani Fadila Ari Mulianta Ginting, Ari Mulianta Arsal, Yon Asma'i , Astuti, Camelia Puji Bustamil, Bustamil Chintia Apriyanti Dewi, Nur Diana Dian Wahyudi Dida Nurhaida Dimyati Dimyati Dini Hariyanti Eferedo, Eferedo Eleonora Sofilda Faaza, Haseena Khalida Fahruroji Fahruroji, Fahruroji Gilberth Suryadi Giri Tri Broto Handoko, Hendro Haris, Muhamad Herawan, Bonny Famedian Hesti Ekawati Hilman Latief Himawan, Aquila Ihsanul Fatta Indah Anggoro Putri indianies janio Iskandar, Adriyansya Islami, Wardah Isnaini Mukti Azis Jadi Suriadi Jati Chandrasasi Jhon Tafbu Ritonga Jhon Talbu Ritonga Kamila Ramadhani Kuncoro Hadi Lidia Wahyuni Luci Irawati M Andrio Mulasaputra Maisyarah, Anisa Makarim, Dina Fornia Meinarsih, Triana Meutia, Astrid Mudakir , Mudakir Mudakir Mudakir Mulyani Safira Munawar, Muhammad Agil Musa Ritonga Natris Idriyani Nindah Warachmah Suharji nirdukita ratnawati, nirdukita Nurhayati Nurhayati Nurwahidin Pardomuan Sihombing, Pardomuan Putri, Indah Anggoro R. Ajeng Entaresmen, R. Ajeng Reska Prasetya Ridhona Fultanegara Rudy Tanjung Rumondang, Haiyani Shafrani Dizar Sipayung, Bonarsius Sobiyanto, Ahmad Suci Romadhona Sulistyowati, Lilies Sutradi Sutardi Tatok Djoko Sudiarto, Tatok Djoko Tri Broto, Giri Tri Handayani Triana Meinarsih Tubagus Irmansah Vissia Dewi Haptari, Vissia Dewi Wahyudi Wahyudi Wahyuni, Lidia Wan Usman, Wan Wibowo, Titis Ari Yurinaldi Yurinaldi Yusuf, Abdul Yusuf, Abdul Yuswar Zainul Basri Zainuddin Siregar ZAINUL ARIFIN Zarwin Sabar Zulkifli Husin, Zulkifli