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The Effect of Investment Decisions & Dividend Policies on The Value of Companies In The Industrial Goods Sub-Sector Iskandar, Zeinku Putri; Asih, Vemy Suci; Nurjaman, Ilham; Kusuma, Suteja Wira Dana
Indonesian Journal of Economics and Management Vol. 5 No. 3 (2025): Indonesian Journal Of Economics and Management (July 2025)
Publisher : Jurusan Akuntansi Politeknik Negeri Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35313/ijem.v5i3.6625

Abstract

Firm value and share price are closely related. A high stock price indicates a strong company value in the capital market. The Industrial Goods sub-sector is a sector that provides capital to be used in the production process in various industries, in the form of machinery, equipment and equipment for manufacturing, construction and goods and services. This study aims to determine whether investment decisions represented by the Price Earning Ratio (PER) and dividend policy represented by the Dividend Payment Ratio (DPR) affect firm value represented by Price per Book Value (PBV) in industrial goods sub-sector companies for the period 2019 to 2023 which are officially listed on the IDX. The associative method with a quantitative approach was used in this study, with a sample size of six companies out of 40 companies with a period of 5 years. It was found in this study that PER as a proxy for investment decisions contributed positively to increasing firm value as measured by PBV but was not significant. Meanwhile, Dividend Payment Ratio (DPR) as a representation of dividend policy significantly and positively affects Price Book Value (PBV) as a representation of firm value.
IHTIKAR IN HADITH: A FIQH AL-HADITH ANALYSIS OF HOARDING PRACTICES IN THE ISLAMIC ECONOMIC SYSTEM Handika, Caca; Fithriany Rahmah, Yulia; Nurjaman, Ilham; Fauzi Nazar, Reza; Nurdiansyah, Irdan; Priyanti, Gita
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.51110

Abstract

The practice of hoarding goods poses a serious challenge to the realization of distributive justice within the Islamic economic system. This study aims to examine the prohibition of hoarding through a comprehensive fiqh al-hadith approach by tracing the legal status of relevant hadiths and analyzing the implications of hoarding practices for market dynamics and socio-economic stability. Employing a qualitative method with a descriptive-analytical design, this study is based on an extensive literature review that integrates tahrij al-hadith, syarh al-hadith, and a normative analysis grounded in maqasid al-shariah. The findings reveal that the prohibition of hoarding articulated in the hadith literature is not merely rooted in religious injunctions but also embodies profound ethical and social considerations that remain highly relevant to contemporary issues of goods distribution. Hoarding practices generate artificial scarcity, induce price inflation, and disrupt market equilibrium, ultimately imposing welfare losses on consumers. Accordingly, this study underscores the urgency of strengthening sharia-based regulatory oversight and enhancing public education on muamalah ethics as preventive measures against manipulative economic behavior. Overall, this study contributes to the development of a more just, ethical, and sustainable Islamic distribution framework in addressing the challenges of modern and globalized economies.
Reframing Islamic Education Governance Through a Socio-Cultural Perspective: Lessons from Spain and Indonesia Anshorudin, Rizal; Erihadiana, Mohamad; Nurjaman, Ilham; Supriyatna, Dede
Khazanah Pendidikan Islam Vol. 7 No. 3 (2025): Khazanah Pendidikan Islam
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/kpi.v7i3.51883

Abstract

Islamic education evolves within diverse socio-cultural and political contexts in Muslim-majority and Muslim-minority countries, directly affecting its governance, legitimacy, and sustainability. These differences generate structural challenges related to secularism, religious identity, and state involvement in Islamic education. This study aims to analyze and compare the governance of Islamic education in Spain and Indonesia from a socio-cultural perspective. The research employed a Systematic Literature Review (SLR) following the PRISMA 2020 framework and the PISCo approach, synthesizing 18 Scopus-indexed scholarly and Google Scholar articles. The findings indicate that Islamic education in Spain operates under a top-down and formal-legal governance system, strongly shaped by secularism and the minority status of Muslims, resulting in institutional constraints and persistent Islamophobia. In contrast, Islamic education in Indonesia develops through a plural and community-based governance model that integrates religious values with local culture in a Muslim-majority society. This study implies that sustainable Islamic education requires inclusive, contextual, and participatory governance models capable of addressing socio-cultural diversity while promoting religious moderation and social cohesion.