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All Journal JURNAL BISNIS STRATEGI Journal of Business and Management Indonesian Journal of Interdisciplinary Islamic Studies (IJIIS)
Muhammad Dzaki Naufal, Muhammad Dzaki
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Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Fund Manager Characteristics and The Social Performance of Conventional Mutual Funds in Indonesia Naufal, Muhammad Dzaki; Nainggolan, Yunieta Anny
Journal of Business and Management Vol 4, No 10 (2015)
Publisher : Journal of Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (291.964 KB)

Abstract

Abstract – Socially responsible investment has been popular in the last decade due to the global concerns on ethical and environmental issues which cause high risk in the future. Socially responsible investment is also started to grow in Indonesia with the establishment of sustainability index, SRI-KEHATI, in 2009. Growing interests in SRI investment in Indonesia make us wonder whether conventional mutual funds also invest in companies with high social performance. Further, previous study in Indonesia mostly examines the financial performance of conventional funds or SRIs and there is no study yet which examines the social performance of conventional mutual funds and their determinants. Hence, this study aims to find the score the social performance of conventional equity mutual funds in Indonesia. We measure this using two ethical indices in Indonesia stock exchange, which are ISSI (Indonesia Sharia Stock Index) and SRI-KEHATI. This study period is only 2012 due to data availability. Further, we examine whether there is a relationship between fund manager characteristics such as gender and education background and this social performance. Our regression results show that there is no relationship between female fund managers and their asset allocation in firms with high social performance. However, we find that fund managers with master degree but not necessary from overseas university seem to invest in firms with high social performance which showing that higher degree may have provide them with higher concerns on environmental, social, and governance issues. We also find that older funds tend to hold shares that are socially responsible suggesting older funds may put higher concern on social than financial performance of their holdings due to lower market risk and the expectation of better performance in the future or in the long term. Keywords: Socially Responsible Investment Funds, Conventional Mutual Funds, Gender, Educational Background, Behavioral Finance, Fund Manager.
Inflation Effect on Unemployment in Indonesia: A Comparative Studies Between Sharia and Conventional Economic Perspectives Suharti, Sri; Naufal, Muhammad Dzaki; Paiman, Farah Ladina
JURNAL BISNIS STRATEGI Vol 30, No 2 (2021): Desember
Publisher : Magister Manajemen, Fakultas Ekonomika dan Bisnis Undip

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jbs.30.2.127-138

Abstract

This study discusses the effect of inflation on unemployment by comparing the perspective of Islam with capitalism. The purpose of this study is to identify the driving factors that cause inflation and unemployment. This research is conducted using descriptive analysis through linear regression analysis on Indonesia’s unemployment and inflation data from 2001 to 2019. This study found that inflation was not the main contributor to unemployment and only accounted for 18.6% of unemployment, whereas the remaining 80.4% was caused by other factors. This occurs because the increase in prices are not due to aggregate demand, but due to natural and man-made factors. To overcome inflation, the government should create policies to promoting a culture of saving, investing and discouraging wasteful and excessive spending from early age and improve the morale of officials and entrepreneurs. In addition to that, the government can also implement the law firmly and consistently to all parties who commit unethical behaviour; second, increasing the role of the community to observe and report corruption. To reduce the rate of unemployment, the government can implement several policies. Those are implementing policies that make it easier for startups to obtain capital, create investment security and facilitate licensing bureaucracy; second, providing more free and accessible work training courses, especially in urban areas; third, implement 12-year compulsory education consistently.
The Investment Effect on Prosperity in Indonesia with Economic Development as an Intervening Variable Suharti, Sri; Prasetyo, Yoyok; Naufal, Muhammad Dzaki; Aminullah, Ali
Indonesian Journal of Interdisciplinary Islamic Studies (IJIIS) Vol. 5, No. 2, March 2022
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ijiis.vol.5.iss2.art1

Abstract

Indonesia is rich with natural resources, which attract investors. However, it has not impacted an insufficient level of prosperity, as shown by a low level of education and income per capita. The study aims to determine the effect of investment as measured by Global Competitive Index (GCI) as the independent variable, Human Development Index (HDI) as the dependent variable on prosperity, and Gross Domestic Product (GDP) as an intervening variable to measure economic development. The research used a descriptive quantitative framework, supported by data from books, journals, and other online sources. The data were analyzed with a linear regression statistical model using SPSS.25. The results indicate that investment has no significant direct effect on prosperity, yet, it has a significant indirect effect on prosperity through economic development. The current imbalance in economic and education progress illustrates that today's development is against Islamic principles, e.g., divinity, justice, and sustainability. These principles are the keys to solving the problem of prosperity in Indonesia. Thus, to increase prosperity, the government needs to increase public access to economic development by improving education and health facilities, especially in rural areas, and the independence of the people to manage the country's wealth.
Co-Authors Aminullah, Ali Paiman, Farah Ladina Prasetyo, Yoyok Sri Suharti Yunieta Anny Nainggolan, Yunieta Anny