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All Journal IQTISHODUNA El-QUDWAH Global Review of Islamic Economics and Business Journal of Economic, Bussines and Accounting (COSTING) EKONOMIS : Journal of Economics and Business JURNAL EKSBIS Revitalisasi : Jurnal Ilmu Manajemen JPEKBM (Jurnal Pendidikan Ekonomi, Kewirausahaan, Bisnis dan Manajemen) Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Muhammad Sulhan
Universitas Islam Negeri Maulana Malik Ibrahim Malang
Agriculture, Biological Sciences & Forestry Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

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ANALISIS KAUSALITAS ANTARA KEBIJAKAN INVESTASI, DIVIDEN, DAN PENDANAAN PADA PERUSAHAAN MANUFAKTUR YANG LISTED DI BURSA EFEK JAKARTA SE., MM.,, Muhammad Sulhan,
IQTISHODUNA IQTISHODUNA (Vol 2, No 3
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (141.963 KB) | DOI: 10.18860/iq.v1i3.204

Abstract

This research try to analyze causality among investment, dividend, and financing on the listed manufacture companies at the Jakarta Stock Exchange, that can be used for making policies in the future. There are two contradictory opinions about the theory of investment, dividend, and financing policies between Modigliani Miller with Bhattacharya that is about asymmetry information which is showed by causality between investment, dividend, and financing policies. The contradictory opinion is very interesting to be analyzed further in this research.This research was conducted by taking samples of manufacture companies  listed at the Jakarta Stock Exchange. Sample we selected by purposive sampling, in the form of companies that have cash dividend for three years continuously. Manufacture company is chosen as the research object because manufacture company have fixed assets serving as dominant investment elements of the total company assets.Results of this research show the negative causality between investment with dividend policies. The other result of this research show the positive causality between investment with financing policies and the positive causality between dividend with financing policies. Implication of the results are company manager to be wiser in dividend payment, the increase of retained earning in financing patterns, and the addition of long term debt with limited borrowing capacity.
ANALISIS SIKAP KERJA KARYAWAN PERBANKAN SYARIAH BERDASARKAN KARAKTERISTIK BIOGRAFIS Siswanto Muhammad, Sulhan
El-QUDWAH El-Qudwah (04-2011)
Publisher : lp2m-uin malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (604.542 KB)

Abstract

The purpose  of  this  study  is  to  compare  job  satisfaction  and  organizational commitment  of  employee’s  Islamic  banking  based  on  biographical  characteristics. Biographical characteristics are consists of age, gender, marital status, and education. Total  sample  in  the  research  are  125  respondents.  Data  analysis  is  executed  by independent samples t-test and Analysis of Varians (Anova) with SPSS 16 version. Based on the research indicate that employee job satisfaction is quitely different between men and women.  Organizational commitment based on gender is quietly different too. Job satisfaction and organizational commitment of men are higher than women. Managerial  implications  of  human  resource  management  requires  to  enhance  an organizational commitment and job satisfaction of Islamic banking women employeesKeywords: Satisfaction, Organizational Commitment, Islamic Bank
The Effect of Funding Policy, Investment Policy, and Dividend Policy on the Firm Value through Good Corporate Governance as an Intervening Variable Muhammad Sulhan; Puji Endah Purnamasari
Global Review of Islamic Economics and Business Vol 8, No 1 (2020)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2020.081-05

Abstract

The company’s main objective is maximizing the firm value which means it increases shareholder prosperity. This can be achieved by combining funding policy, investment policy, and dividend policy optimally. The application of good corporate governance (GCG) is used to direct and control the company to be able to run the company’s operations following stakeholder’s expectations. This study aims to determine the influence of funding policies, investment policies, and dividend policies on firm value by using GCG as a mediating variable.This study uses a quantitative approach. In this study, the population is all companies listed in the banking sub-sector on the Indonesia Stock Exchange in 2013-2017, with a total of 43 companies. The samples are taken by purposive sampling technique with 12 companies. The method of data analysis used in this study was descriptive analysis and path analysis using Partial Least Square (SmartPLS3).The result of the study shows that the investment policy has a positive effect on firm value. The funding policy and dividend policy do not affect firm value. While investment policy has a positive effect on GCG. Furthermore, the funding policy and dividend policy do not affect GCG. GCG successfully mediates the relationship of investment policy with the firm value. That is, the higher profitability will affect the GCG so that it will affect the firm value. However, GCG as an intervening variable does not succeed in mediating the relationship of funding policy and dividend policy with the firm value.
Implementation Of Time Value Of Money In The Pecotan Tradition Of The Paiton Community Sohebatul Mukarromah; Muhammad Sulhan
JURNAL EKBIS Vol 23, No 1 (2022): EKBIS (Jurnal Analisis, Prediksi dan Informasi
Publisher : Universitas Islam Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (382.613 KB) | DOI: 10.30736/je.v23i1.1154

Abstract

This study aims to determine the implementation of the Time Value of Money contained in the Pecotan tradition of the Paiton community. The research method is descriptive qualitative and phenomenological. The informants in this study were the Paiton people because the Paiton people were still thick with the pecotan tradition and there were differences in how to invite the Paiton people to do pecotan. The results and conclusions are that the implementation of the pecotan tradition is carried out at the wedding reception, while the distribution of invitations for cigarettes and soap is given from one week to one month before the reception. women, young and old, known and unknown. The contract used in the pecotan tradition is a donation, and is sincere. andImplementation of Time Value of Money applies to money. 
Analysis of Behavioral Finance, Financial Literacy and Their Impact on Financial Distress Mahmud Yusuf Afif; Muhammad Sulhan
REVITALISASI : Jurnal Ilmu Manajemen Vol 11 No 1 (2022): REVITALISASI : Jurnal Ilmu Manajemen
Publisher : Universitas Islam Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32503/revitalisasi.v11i1.2359

Abstract

This study aims to determine the effect of financial literacy and financial behavior on financial distress students of the Faculty of Economics, State Islamic University of Malang. The type of research used is quantitative research. The research location appointed by the researcher is at the State Islamic University (UIN) Maulana Malik Ibrahim Malang. The number of samples in this study were 130 respondents. The sample in this study was Generation Z who were born in 1996 – 2004 or who are 18-26 years old and actively hold the status of students of the Faculty of Economics, State Islamic University (UIN) Maulana Malik Ibrahim Malang. The variables used in this study consisted of independent variables and dependent variables. The dependent variable is financial distress, while the independent variables are financial literacy and financial behavior. The data that has been obtained were analyzed using SPSS ver. 20.0. Based on the results of the research that has been obtained, it can be concluded that tax knowledge, fiscal services, and administrative sanctions have a positive and significant effect (1) financial literacy has a negative and significant effect on financial distress, (2) financial behavior has a negative and significant effect on financial distress, and (3) financial literacy and financial behavior together have an effect on financial distress.
PENGARUH HARGA EMAS DAN MINYAK TERHADAP HARGA SAHAM NEGARA ANGGOTA IMT-GT DI ERA COVID-19 Andriana yufita; Muhammad Sulhan
JPEKBM (Jurnal Pendidikan Ekonomi, Kewirausahaan, Bisnis dan Manajemen) Vol 6, No 1 (2022): JPEKBM (Juli,2022)
Publisher : STKIP PGRI Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32682/jpekbm.v6i1.2352

Abstract

Penelitian ini untuk mengetahui pengaruh harga emas dari masing masing negara IMT-GT, harga minyak dunia Brent serta harga minyak dunia WTI terhadap harga saham masing masing negara IMT-GT era Covid-19 dari 11 maret 2020- 25 maret 2022. Penelitian menggunakan menggunakan pendekatan kuantitatif dengan analisis deskriptif dan analisis multivariat SEM-PLS dengan aplikasi WarpPLS 8.0. Penelitian menghasilkan Harga emas Thailand dan Indonesia tidak berpengaruh terhadap harga saham SET dan IHSG. Sedangkan Malaysia berpengaruh positif terhadap harga saham KLSE. Harga minyak Brent Thailand dan Indonesia berpengaruh positif terhadap harga saham SET dan IHSG. Sedangkan Harga minyak Brent Malaysia tidak berpengaruh terhadap harga saham KLSE. Harga minyak WTI Malaysia dan Indonesia berpengaruh negatif terhadap harga saham KLSE dan IHSG. Sedangkan Thailand berpengaruh positif terhadap harga saham SET
Pengaruh Kebijakan Investasi dan Kebijakan Dividen terhadap Nilai Perusahaan dengan Good Corporate Governance sebagai Pemoderasi (Studi Pada Perusahaan High Dividend 20 yang Terdaftar di BEI 2017-2021) Evita Setyorini; Muhammad Sulhan
Ekonomis: Journal of Economics and Business Vol 7, No 1 (2023): Maret
Publisher : Universitas Batanghari Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/ekonomis.v7i1.807

Abstract

In investing, investors wants profit so they make a decision by analyzing the value of the firm. The purpose of this research is to ascertain how investment policy and dividend policy on firm value moderated by GCG. This research used quantitative method with moderating regression analysis (MRA) research method. Investment policy is proxied by TAG, dividend policy ratio through DPR, GCG through ACGS, and firm value through PBV. According to the study’s findings, investment policy have an impact on a firm value although the dividend policy had no bearing. The presence of GCG is able to strengthen the effect of investment policy on firm value but can not affect dividend policy on firm value.
Pengaruh Literasi Keuangan dan Financial Technology Terhadap Perilaku Keuangan dengan Niat Berperilaku Sebagai Variabel Mediasi pada UMKM di Kota Malang Amalia Agustin Hidayanti; Muhammad Sulhan
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 7 No. 3 (2025): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v7i3.5863

Abstract

This study aims to determine the effect of financial literacy and financial technology on financial behavior through behavioral intentions as a mediating variable. This study uses a quantitative method with an explanatory research type. Sampling was carried out using a purposive sampling technique with a method that focuses on MSME actors in Malang City. This study was conducted statistically using the SmartPLS 4.0 analysis tool. Analytical findings show that financial literacy has a positive and significant effect on the behavior and behavioral intentions of MSMEs in Malang City. While financial technology has a positive but insignificant effect on financial behavior. In addition, behavioral intentions are proven to be an important relationship that connects financial literacy and financial technology with financial behavior, emphasizing the crucial role of intentions in supporting better financial management. This study provides recommendations for improving financial literacy and adoption of financial technology among MSMEs to encourage sustainable economic growth.
PENGARUH KEPEMILIKAN INSTITUSIONAL DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI Mohammad Faizin Littughosina; Muhammad Sulhan
Journal of Economic, Bussines and Accounting (COSTING) Vol. 8 No. 3 (2025): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v8i3.15594

Abstract

Penelitian ini dilatarbelakangi oleh kebutuhan untuk meningkatkan nilai perusahaan sebagai cerminan kinerja dan kesinambungan bisnis, khususnya di sektor pertambangan Indonesia yang mengalami penurunan nilai dalam beberapa tahun terakhir. Studi ini bertujuan mengevaluasi pengaruh kepemilikan institusional dan ukuran perusahaan terhadap nilai perusahaan, dengan profitabilitas sebagai variabel mediasi. Metode yang digunakan adalah pendekatan kuantitatif melalui regresi data panel. Objek penelitian mencakup perusahaan pertambangan yang tercatat di Bursa Efek Indonesia (BEI) selama 2020–2023, dipilih melalui purposive sampling. Variabel independen adalah kepemilikan institusional dan ukuran perusahaan; variabel dependen adalah nilai perusahaan yang diukur dengan Price to Book Value (PBV), sementara Return on Assets (ROA) mewakili profitabilitas sebagai variabel mediasi. Analisis data dilakukan dengan regresi dan uji sobel menggunakan software E-Views. Hasil penelitian menunjukkan bahwa kepemilikan institusional tidak berpengaruh signifikan terhadap nilai perusahaan, namun berpengaruh positif terhadap profitabilitas. Ukuran perusahaan memiliki pengaruh positif signifikan terhadap profitabilitas dan nilai perusahaan. Profitabilitas juga berpengaruh positif signifikan terhadap nilai perusahaan, serta memediasi hubungan antara ukuran perusahaan dan nilai perusahaan, namun tidak memediasi hubungan antara kepemilikan institusional dan nilai perusahaan.
Co-Authors Amalia Agustin Hidayanti Andriana yufita Evita Setyorini Mahmud Yusuf Afif Mohammad Faizin Littughosina Puji Endah Purnamasari Sohebatul Mukarromah