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All Journal IJIBE (International Journal of Islamic Business Ethics) Jurnal Ekonomi dan Bisnis Islam International Journal of Islamic Economics and Finance (IJIEF) Jurnal Organisasi Dan Manajemen Jurnal Ekonomi & Keuangan Islam Journal of Islamic Economic Laws Shirkah: Journal of Economics and Business Journal of Islamic Accounting and Finance Research International Journal of Zakat (IJAZ) Journal of Central Banking Law and Institutions IIJSE Review of Islamic Social Finance and Entrepreneurship Islamic Economics and finance in Focus (IEFF) Jurnal Pengabdian Kepada Masyarakat Journal of Islamic Economic Laws

Supriani, Indri

Universitas Brawijaya

Author-ID : 5565535

Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Articles

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Determinants of Underpricing in Islamic and Non-Islamic Shares on IPO Setya, Vabila Ananta; Supriani, Indri; Fianto, Bayu Arie
Shirkah: Journal of Economics and Business Vol 5, No 1 (2020)
Publisher : IAIN Surakarta

This study aims at investigating the factors affecting the shareâ€™s underpricing in service companies of the Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) covering the period from 2011 to 2017. Compared to the precedent studies, this study provides an empirical comparison between Islamic and non-Islamic shares on 22 underpricing stock samples from 44 IPOs in Islamic service shares and 21 underpricing samples from 32 IPOs in non-Islamic service shares. This study adopts a multiple linear regression analysis and an independent sample t-test method. It is revealed that the underwriter's reputation and auditor's reputation have a significant effect on the underpricing of IPO on IDX, both in Islamic and non-Islamic service companies. The result of independent samples t-test indicates that Islamic service shares companies have better financial performance compared to non-Islamic service shares companies. Predicated upon the results, this study implicatively insinuates that companies based on Shariah compliance could anticipate the underpricing level more expeditiously since the Shariah principles are in line with the decreasing level of underpricing.

Revisiting the Contribution of Islamic Banksâ€™ Financing to Economic Growth: The Indonesian Experience Supriani, Indri; Fianto, Bayu Arie; Fauziah, Najim Nur; Maulayati, Ryan Rahmah
Shirkah: Journal of Economics and Business Vol 6, No 1 (2021)
Publisher : IAIN Surakarta

The contribution of Islamic banking towards economic growth remains debatable amongst academicians and practitioners. This study investigates the relationship between Islamic banksâ€™ financing and economic growth in Indonesia which is the largest Muslim population country. This study adopts Autoregressive-Distributed Lag (ARDL) and utilizes time-series quarterly data from 2011Q1 to 2019Q3. The study uses four predictors: financing to deposit ratio, gross capital fixed formation, inflation, and trade openness. The results from the auto-regressive distributed lag model indicate that, in the long-run, Islamic banks' financing has a significant impact on the Indonesian economy. However, in the short-run, financing does not make a substantial contribution to Indonesian economic growth. The studyâ€™s key implication is that financing by Islamic banks still makes a limited contribution to economic growth in Indonesia. This study enhances the literature review, specifically on evaluating the contribution of Islamic banks towards economic growth. Numerous existing studies on this topic covering the crisis period data, which might suffer from data bias. Therefore, this study addresses this topic, excluding the global financial crises period such as 1998, 2008, and 2020, to demonstrate Islamic banks' evident contribution to Indonesian economic growth.

What drives the inflow of FDI in OIC countries? Evidence from Top 10 hosts of inward FDI flows Indri Supriani; Bayu Arie Fianto
Jurnal Ekonomi & Keuangan Islam Volume 6 No. 2, July 2020
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol6.iss2.art2

Purpose – This study investigates the driven factors of Foreign Direct Investment (FDI) inflow in selected OIC member countries. The selection of samples observation based on the top 10 hosts of inward FDI flows countries, includes the United Arab Emirates (UAE), Morocco, Indonesia, Turkey, Iran, Egypt, Bangladesh, Kazakhstan, Oman, and Malaysia.Methodology – The data for this study are obtained from World Bank and United Nations Development Programme (UNDP) database for the period 2001-2018. This study adopted panel regression analyses and utilized the Random Effect Model.Findings – This study reveals that GDP and trade openness were positive and significantly plays a vital role in driving the FDI inflow. Whereas, the exchange rate, inflation, and human development index did not have a significant impact on FDI inflow in the top 10 hosts of inward FDI flows countries.Research limitation – The main limitation of this research is the lack of a variable that represents the Islamicity index, which can differentiate the driven factors of FDI in Muslim and non-Muslim organization countries.Practical implication – This study suggests that members of OIC countries should provide a conducive investment environment which is represented by higher GDP growth and engage in various international trade agreements because those factors have higher possibilities in impacting the FDI inflow. Moreover, the rules which describe the investment priority amongst the member of OIC countries must be ratified immediately to decrease the percentage of the FDI inflows goes to non-OIC members.Originality – This study has advanced the knowledge by examining the driven factors of FDI in the specifically selected members of OIC countries, which based on the highest FDI inward. Thus, this study provides significant insights for policymakers for the rest of the member OIC countries to attract FDI inflows referring to the top 10 hosts of inward FDI flows countries.

Mobile banking services quality and its impact on customer satisfaction of Indonesian Islamic banks Bayu Arie Fianto; Charissa Kezia Rahmawati; Indri Supriani
Jurnal Ekonomi & Keuangan Islam Volume 7 No. 1, January 2021
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol7.iss1.art5

Purpose – This study investigates the influential factors of mobile banking service quality dimension (enjoyment, security, ease, design, and application system) of Indonesian Islamic banks toward customer satisfaction.Methodology – This study uses 100 respondents who are Islamic mobile banking users in Indonesia and applies the Partial Least Square for Structural Equation Modeling (PLS-SEM) approach.Findings – This study reveals that the enjoyment, security, design, and application system of Islamic mobile banks significantly impact customer satisfaction. This study suggests that Islamic banks should pay more attention to increasing their mobile banking application systems, which is the most crucial factor influencing customer satisfaction.Research limitations – This study is limited to the sample of five top Islamic banks’ customers in Indonesia with 100 respondents. Thus, the result of this study cannot be generalized to other countries.Practical implications – The findings offer valuable insights into Islamic banks about improving their mobile banking services’ quality to gain more satisfied customers, which benefited their financial and non-financial performances.Originality – This study specifically involved users of Islamic mobile banking from five Islamic banks, received the Top Brand Award in 2019. Therefore, this study provides significant guidelines for the rest of the Islamic banks in Indonesia to improve their customer satisfaction using mobile banking by referring to the Top 5 Brand Award.

Determinants of Underpricing in Islamic and Non-Islamic Shares on IPO Vabila Ananta Setya; Indri Supriani; Bayu Arie Fianto
Shirkah: Journal of Economics and Business Vol 5, No 1 (2020)
Publisher : IAIN Surakarta

This study aims at investigating the factors affecting the share’s underpricing in service companies of the Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) covering the period from 2011 to 2017. Compared to the precedent studies, this study provides an empirical comparison between Islamic and non-Islamic shares on 22 underpricing stock samples from 44 IPOs in Islamic service shares and 21 underpricing samples from 32 IPOs in non-Islamic service shares. This study adopts a multiple linear regression analysis and an independent sample t-test method. It is revealed that the underwriter's reputation and auditor's reputation have a significant effect on the underpricing of IPO on IDX, both in Islamic and non-Islamic service companies. The result of independent samples t-test indicates that Islamic service shares companies have better financial performance compared to non-Islamic service shares companies. Predicated upon the results, this study implicatively insinuates that companies based on Shariah compliance could anticipate the underpricing level more expeditiously since the Shariah principles are in line with the decreasing level of underpricing.

Revisiting the Contribution of Islamic Banks’ Financing to Economic Growth: The Indonesian Experience Indri Supriani; Bayu Arie Fianto; Najim Nur Fauziah; Ryan Rahmah Maulayati
Shirkah: Journal of Economics and Business Vol 6, No 1 (2021)
Publisher : IAIN Surakarta

The contribution of Islamic banking towards economic growth remains debatable amongst academicians and practitioners. This study investigates the relationship between Islamic banks’ financing and economic growth in Indonesia which is the largest Muslim population country. This study adopts Autoregressive-Distributed Lag (ARDL) and utilizes time-series quarterly data from 2011Q1 to 2019Q3. The study uses four predictors: financing to deposit ratio, gross capital fixed formation, inflation, and trade openness. The results from the auto-regressive distributed lag model indicate that, in the long-run, Islamic banks' financing has a significant impact on the Indonesian economy. However, in the short-run, financing does not make a substantial contribution to Indonesian economic growth. The study’s key implication is that financing by Islamic banks still makes a limited contribution to economic growth in Indonesia. This study enhances the literature review, specifically on evaluating the contribution of Islamic banks towards economic growth. Numerous existing studies on this topic covering the crisis period data, which might suffer from data bias. Therefore, this study addresses this topic, excluding the global financial crises period such as 1998, 2008, and 2020, to demonstrate Islamic banks' evident contribution to Indonesian economic growth.

A Bibliometric Analysis of Zakat Literature from 1964 to 2021 Indri Supriani; Sri Iswati; Firsty Izzata Bella; Yunice Karina Tumewang
Journal of Islamic Economic Laws Vol 5, No 2: July 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i2.18511

This research is intended to provide a comprehensive historical and present development of zakat literature through bibliometrics analysis extracted from Scopus database. From 522 articles related to zakat, the findings show that Universiti Utara Malaysia, IMEFM, and Saad, R. A. J have become the most institution, journal and author that published in zakah literature respectively. Moreover, the article from Haniffa, R; Hudaib (2007) is found to be the most cited article worldwide. While Malaysia has become the hub center of the research collaboration network with a strong collaboration with Indonesian researchers.

The Nexus Between Zakat Performance, COVID-19 crisis and Islamic Banks’ Profitability: Empirical evidence from Indonesia Sulaeman Sulaeman; Muhammad Adam; Indri Supriani
International Journal of Zakat Vol 7 No 2 (2022): International Journal of Zakat
Publisher : Center of Strategic Studies (PUSKAS) BAZNAS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37706/ijaz.v7i2.427

This paper aims to empirically analyse the nexus between zakat performance, the COVID-19 crisis, and Islamic banks' profitability in Indonesia from 2015 to 2021. This study applied a quantitative method from the panel data regression model. The secondary data was used with a total sample of 10 selected Indonesian Islamic commercial banks. Based on the empirical findings, zakat performance is the primary determinant of Islamic banks' profitability in Indonesia. This is proven that zakat contributes significantly to increasing Islamic banks' profitability, namely ROA, ROE, and NPM. Further, another finding regarding the dummy crisis variable, the COVID-19 crisis (COVID-19), finds a strong effect on the Islamic banks' profitability in Indonesia, namely ROA and NPM. Our empirical study provides implications for developing literature and directing policy recommendations for zakat institutions such as BAZNAS, LAZ, and Islamic banks management. Further research is needed to observe the zakat performance and the longer period of the COVID-19 crisis impact on Islamic banks' profitability in Indonesia.

Nexus between financial inclusion and Islamic financing distribution: Evidence from Indonesian MSMEs Sri Yayu Ninglasari; Sulaeman Sulaeman; Indri Supriani; M. Fikri Himmawan
Jurnal Ekonomi & Keuangan Islam Volume 9 No. 2, July 2023
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol9.iss2.art2

Purpose – The purpose of this study is to investigate the relationship between financial inclusion and the distribution of Islamic banking financing to Indonesia's MSME industry.Methodology – This study utilizes the Vector Error Correction Model (VECM) approach covering the period between 2015 to 2020.Findings – The study's findings suggest that the use of all-inclusive financial variables, as represented by the number of ATMs, branch offices, and Third-Party Fund (TPF), has a significant effect on the distribution of financing in the short-term but not in the long term. Furthermore, macroeconomic as well as internal control variables, such as inflation and Non-Performing Financing, have been shown to have a significant influence. The impulse-response function analysis shows that the financing distribution responds positively to financial inclusion variables such as ATMs and branch offices. TPF, inflation, ROA, and exchange rate variables were found to have negative responses in the case of a shock.Implications – The findings of this study are expected to be used as a basis to develop government policies, particularly in supporting the post-COVID-19 national economic recovery through a comprehensive financial program that can broaden access to financing from Islamic banks for the general public, particularly MSME actors who have been severely impacted by the COVID-19 pandemic.Originality – This investigation utilizes three distinct indicators to assess the relationship between Islamic financing distribution in Islamic banking and financial inclusion for MSMEs. These include measures of financial inclusion, financial performance metrics of Islamic banking institutions, and macroeconomic variables.

Do perceived zakat institutions and government support affect entrepreneurs' intention to pay zakat? Heri Sudarsono; Indri Supriani; Andika Ridha Ayu Perdana
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art1

Purpose – This study aims to determine the effect of attitudes, subjective norms, institutional zakat systems, and government support in influencing the interest of entrepreneurs in paying zakat. Methodology – There are 140 respondents in this research from 6 big cities in Java, such as Jakarta, Serang, Bandung, Semarang, Yogyakarta, and Surabaya. This research uses the Partial Least-Square-Structural Equation Modeling (PLS-SEM) analysis technique with the Theory of Reasoned Action (TRA) model. Finding – The findings reveal that attitudes, subjective norms, and perceived zakat institutions affect entrepreneurs' interest in paying zakat. Meanwhile, perceived government support does not affect entrepreneurs to pay zakat.Implications – Zakat institutions need to regularly involve Muslim entrepreneur organizations in zakat management programs so that perceptions about zakat institutions and the role of government in improving zakat management can increase the motivation of entrepreneurs to pay zakat.Originality – There has been no previous research including perceived zakat institutions and perceived government support as variables influencing entrepreneurs' intention to pay zakat in Indonesia.

Co-Authors Agus Suman Al-Ghifary, Muhammad Syauqy Andika Ridha Ayu Perdana Anisa, Vera Novia Artha Wicesa, Nayaka Attarsyah, Azriel Auqi Bahril, Muthi Adilah Bayu Arie Fianto Bella, Firsty Izzata Berutu, Boy Frahansah Budi, Ryan Setya Charissa Kezia Rahmawati Deni Kurniawan, Deni Dias Satria Fauziah, Najim Nur Firsty Izzata Bella Gunarianto Gunarianto Habibi, Faisol Hanifah, Sarah Hana Heri Sudarsono Indra Rajasa, Muhammad Attar Jannahar Saddam Ash Shidiqie Karina Tumewang, Yunice Lak lak Nazhat El Hasanah Latipah, Yeni M. Fikri Himmawan Maulayati, Ryan Rahmah Melzatia, Haura Hazimah Muhammad Adam Muljaningsih , Sri Nabella , Rihana Sofie Najim Nur Fauziah Nurrachman, Yendi Rio Rachmania Nurul Fitri Amijaya Reyhanmulky, Muhammad Ryan Rahmah Maulayati Setya, Vabila Ananta Sholikhin, Mohammad Yusron Sri Herianingrum Sri Iswati Sri Yayu Ninglasari Sudarsono , Heri Sulaeman Sulaeman sulaeman sulaeman T, Yunice Karina Tumewang, Yunice Karina Ujang Syahrul Mubarrok Vabila Ananta Setya Widiyanti, Dwi Retno Yendi Rio Nurrachman Yunice Karina Tumewang Yunice Karina Tumewang

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