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CO-INTEGRATION DAN CONTAGION EFFECT ANTARA INDEKS SAHAM SYARIAH DI BEBERAPA NEGARA DAN JAKARTA ISLAMIC INDEX (JII) PADA PERIODE KRISIS YUNANI Ardana, Yudhistira
Jurnal Manajemen Magister Darmajaya Vol 3, No 02 (2017): Jurnal Manajemen Magister Darmajaya
Publisher : Jurnal Manajemen Magister Darmajaya

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Abstract

This research aims to analyze cointegration of sharia market share in Indonesia, Malaysia, US, Canada, UK, Japan, Europe and Asia-Pasific at the period of Greece crisis. Moreover, this research is also to find the most dominant countries which influence to volatility of sharia market share in Indonesia at the period of Greece crisis. Besides this research is to analyze the contagion effect in sharia market share in others country sampled in this research. The data used in this research is secondary data, it is from weekly market share closing from 2007-2014. In processing data, the writer will divide into 2 periods namely before crisis and at the period of crisis. The period before crisis is begun from May 2007 until April 2010.While the period of crisis is begun from May 2010 until January 2014. The analysis method used is vector error correction model (VECM) and Innovation accounting in impulse response function (IRF) and forecasting error variance decomposition (FEVD).Keyword: Co-Integration, Contagion Effect, Stock Index
Faktor-faktor yang Mempengaruhi Holding Period Saham Ardana, Yudhistira; Fatrin, Tiara Novia; Wulandari, Wulandari
Benefit: Jurnal Manajemen dan Bisnis Volume 3 No 1 Juni 2018
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/benefit.v3i1.6117

Abstract

Stocks are an investment that many investors choose because they are able to provide an attractive rate of return. Holding period is a period that indicates the length of this study was to determine the factors that affected the holding period of shares partially on the companies listed into to LQ45 index. This study used a descriptive method, with the purposive sampling technique and it obtained 21 companies as the research sample. The result of the research showed that the market value and the trading volume were partially significant to the holding period of stock with  and sig value was smaller than 0,05 (sig < 0,05) that was 0,000 and 0,005, while the bid-ask spread, variance return, and dividend payout ratio partially had no significant effect on the holding period of stock with the value of   and the sig value was greater than 0,05 (sig > 0,05) that was equal to 0,414, 0,706, and 0,673. The value of the adjusted r square (R²) of 0,381 or 38,1% indicated the the bid-ask spread, the market value, the trading volume, the variance return, the dividend payout ratio could explain the holding period of 38,1%, while the remaining 61,9% was explained by other variables outside the study.
Variabel Makroekonomi, Indeks Dow Jones dan Pergerakan IHSG di Indonesia Ardana, Yudhistira; Irviani, Rita; -, Wulandari
Prosiding Seminar Nasional Darmajaya Vol 1 (2018): SEMNAS IIB DARMAJAYA
Publisher : Prosiding Seminar Nasional Darmajaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (79.498 KB)

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh variabel makroekonomi dan Indeks Dow Jones terhadap IHSG di Indonesia. Jenis data yang digunakan dalam penelitian ini adalah data sekunder. Pada penelitian ini menggunakan data indeks Harga Saham Gabungan, Tingkat Inflasi, Nilai Tukar Rupiah Terhadap Dolar, dan Indeks Dow Jones dengan periode waktu mulai Januari 2015 sampai November 2017. Data dalam penelitian ini dianalisis dengan menggunakan model koreksi kesalahan yang biasa disingkat ECM. Secara simultan variabel inflasi, kurs dan Indeks Dow Jones berpengaruh signifikan terhadap IHSG di Indonesia. Secara individu variabel kurs berpengaruh signifikan terhadap IHSG di Indonesia dalam jangka pendek, sedangkan variabel inflasi dan Indeks Dow Jones tidak berpengaruh signifikan terhadap IHSG di Indonesia. Dalam jangka panjang, variabel kurs dan Indeks Dow Jones berpengaruh signifikan terhadap IHSG di Indonesia, sedangkan variabel inflasi tidak berpengaruh signifikan terhadap IHSG di Indonesia.Kata kunci: Inflasi, Kurs, Indeks Dow Jones, IHSG
Faktor yang mempengaruhi pembiayaan perbankan syariah di Indonesia: MODEL ECM Ardana, Yudhistira
Al-Urban: Jurnal Ekonomi Syariah dan Filantropi Islam Vol 2 No 2 (2018): Desember
Publisher : Universitas Muhammadiyah Prof. DR. HAMKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (286.978 KB) | DOI: 10.22236/alurban_vol2/is1pp92-106

Abstract

This study aims to determine the factors that influence the financing of Islamic banking inIndonesia. This study is examines BI rate, BOPO, CAR, FDR, Inflation, NPF, Exchange Rate andFinancing of Islamic Banking in Indonesia. The data in this study is secondary data from January2013 to September 2017. The data is analysed using the Error Correction Model and processedby eviews. The results of this are the variables that influence the short-term financing of Islamicbanks are BOPO and FDR, while the variables BI_rate, CAR, inflation, NPF and Exchange rateshave no effect. Furthermore, the variables that influence the long-term financing of Islamic banksare BI_rate, BOPO, CAR, FDR and inflation, while the NPF and exchange rate variables haveno effect.
Faktor Internal, Makroekonomi dan Pembiayaan Bermasalah Bank Syariah di Indonesia Ardana, Yudhistira
Esensi: Jurnal Bisnis dan Manajemen Vol 9, No 1 (2019)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/ess.v9i1.10743

Abstract

Non Performing Financing is the most important issue for banks to survive. This study aims to analyze the determination of internal and external factors on Non Performing FInancing on Sharia Banking in Indonesia. This study uses Error Correction Model analysis techniques. The results show that in the short term the variables that have a significant effect on Non Performing Financing on Sharia Banking in Indonesia are inflation variables, while the Exchange Rate, Bank Indonesia Certificate of Wadi’ah, Industrial Production Index, Financing Deposite Ratio, and Capital Adequacy Ratio variables have no significant effect. In the long run the variables that are influential are Exchange Rate, Bank Indonesia Certificate of Wadi’ah, Financing Deposite Ratio, and Capital Adequacy Ratio, while Inflation and Industrial Production Index have no significant effect.
Mengukur Determinasi Variabel Makroekonomi dan Indeks Saham Syariah Indonesia: Analisis Error Correction Model Ardana, Yudhistira; Dian Sugiarti
Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah Vol 9 No 2 (2024)
Publisher : Universitas Muhammadiyah Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/jms.v9i2.22243

Abstract

In the Indonesian economy, the capital market is very important because it functions as an intermediary between parties who need funds and parties who have excess funds. This institution exists not only as a source of funding but also as a means. This research aims to analyze the influence of macroeconomic variables proxied by inflation, money supply, world gold prices, and world oil prices on the Indonesian Sharia Stock Index using the Error Correction Model. The research results show that both short-term and long-term macroeconomic variables simultaneously influence the Indonesian Sharia Stock Index. Meanwhile, partially, in the short term and long term, the money supply variable has a significant negative effect. The world gold price variable, both short-term and long-term, has a positive and insignificant effect. The world oil price variable, both short- and long-term, has a significant positive effect. The short-term inflation variable has an insignificant negative effect, and the long-term variable has a significant positive effect.
HALAL INDUSTRY IN INDONESIA: OPPORTUNITIES, CHALLENGES AND STRATEGIES: HALAL INDUSTRY IN INDONESIA: OPPORTUNITIES, CHALLENGES AND STRATEGIES Syamsiyah, Nur; Ardana, Yudhistira
Journal Of Islamic Ekonomic and Business Vol 1 No 2 (2022): IEB: Journal of Islamic Economics and Business
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Raden Fatah Palembang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19109/ieb.v1i2.13318

Abstract

This study aims to explain how the opportunities, challenges and strategies can be carried out by the Halal Industry in Indonesia. The method used in this study is a qualitative descriptive method using the library method. This study uses secondary data obtained through scientific articles and other relevant documents. The data obtained were analyzed using qualitative analysis through data reduction, categorization and verification. This research finds that Indonesia has tremendous opportunities to develop the halal industry. These opportunities include the halal food sector, the Islamic finance sector, the halal tourism sector, and the Muslim fashion sector. However, there are external and internal challenges in the development of the halal industry, external challenges, namely the number of competing countries, the absence of a globally agreed halal certificate and the incompatibility of Muslim countries in setting halal product standards. And internal challenges, namely the lack of halal awareness among the Indonesian people and the problems of Law Number 33 of 2014 concerning Halal Product Guarantee, as well as the low awareness of the Indonesian people to compete. As for the challenges of the halal industry in Indonesia; many competitors from the international world, there is no halal certification that applies nationally, understanding of the concept of halal is still lacking, socialization is still lacking, laws and regulations are not perfect. Strategies that can be done; developing superior human resources, reliable strategies for socializing halal products and others.
Pengaruh Green Banking dan Capital Adequasy Ratio terhadap Profitabilitas Bank Umum Syariah di Indonesia: The Influence of Green Banking and Capital Adequacy Ratio on the Profitability of Islamic Commercial Banks in Indonesia Rahman, Nabilli; Fasa, Muhammad Iqbal; Musthofa, Ujang Hanief; Ardana, Yudhistira
Economic and Education Journal (Ecoducation) Vol. 7 No. 1 (2025): Economic and Education Journal (Ecoducation)
Publisher : Pendidikan Ekonomi, Universitas Insan Budi Utomo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33503/ecoducation.v7i1.1427

Abstract

Bank Umum Syariah merupakan lembaga keuangan yang menjalankan kegiatan usahanya berdasarkan prinsip-prinsip syariah serta menyediakan layanan dalam lalu lintas pembayaran. Tujuan penelitian adalah mengetahui Green Banking dan capital adequasy ratio berpengaruh pada profitabilitas Bank Umum Syariah di Indonesia. Jenis penelitian ini yaitu kuantitatif dengan pendekatan deskriptif statistik. Metodologi penelitian yang digunakan pada penelitian ini adalah metode riview dan studi kepustakaan. Adapun data yang digunakan dalam penelitian ini adalah data sekunder, yaitu laporan tahunan Bank Umum Syariah periode 2020 – 2023. Variabel dependen pada penelitian ini adalah Net Profit Margin (NPM). Sedangkan variabel independennya yaitu Green Banking indicators dan Capital Adequasy Ratio. Metode analisis data yang digunakan adalah uji asumsi klasik dan analisis linier berganda, pengolahan data yang digunakan adalah program SPSS 27. Hasil penelitian menunjukkan bahwa Green Banking dan capital adequasy ratio berpengaruh positif pada profitabilitas Bank Umum Syariah di Indonesia.
Kinerja Bank Syariah Indonesia: Analisis Pengaruh NPF, BOPO, dan CAR Tahun 2015–2024 Kartika, Bintang; Winarsih, Sri; Ardana, Yudhistira
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 2 (2025): Mei - Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i2.488

Abstract

Penelitian ini dilakukan dengan tujuan menganalisis dampak Non-Performing Financing (NPF), Beban Operasional terhadap Pendapatan Operasional (BOPO), serta Capital Adequacy Ratio (CAR) terhadap kinerja Return on Assets (ROA) pada Bank Umum Syariah (BUS) di Indonesia selama periode 2015–2024. Metode penelitian yang digunakan adalah kuantitatif asosiatif-kausal dengan menggunakan data sekunder dari laporan tahunan Otoritas Jasa Keuangan (OJK) sebagai sumber analisis utama. Hasil penelitian menemukan bahwa BOPO memengaruhi ROA secara signifikan, menunjukkan pentingnya efisiensi operasional dalam meningkatkan profitabilitas bank. Selain itu, penelitian ini menyoroti pentingnya penguatan manajemen kualitas aset dan kecukupan modal untuk mendukung kinerja jangka panjang. Temuan ini memberikan wawasan penting bagi praktisi perbankan dan pembuat kebijakan untuk meningkatkan kinerja serta stabilitas Bank Umum Syariah di Indonesia.
Pengaruh Inflasi, Nilai Tukar Dan Dana Pihak Ketiga (Dpk) Terhadap Pembiayaan Mudharabah Tahun 2015 – 2024 Nurhikmah, Andi Hanifah; Melati, Jean Vania Dwi; Ardana, Yudhistira; M. Bahrudin, M. Bahrudin
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 4 No. 2 (2025): Mei - Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v4i2.489

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh variabel makroekonomi yakni inflasi dan nilai tukar Rupiah terhadap Dolar Amerika Serikat, serta faktor internal Dana Pihak Ketiga (DPK) terhadap pembiayaan mudharabah pada Bank Umum Syariah (BUS) di Indonesia selama periode 2015 hingga 2024. Pendekatan kuantitatif deskriptif digunakan dengan memanfaatkan data panel lintas institusi, di mana lima BUS dipilih melalui metode purposive sampling berdasarkan ketersediaan dan konsistensi laporan keuangan tahunan. Proses analisis melibatkan statistik deskriptif, uji asumsi klasik (normalitas, multikolinearitas, heteroskedastisitas, dan autokorelasi), serta model regresi linier berganda berbasis data panel pada tingkat signifikansi 5%. Hasil deskriptif menunjukkan adanya dinamika moderat pada variabel pembiayaan mudharabah dan DPK, inflasi yang relatif stabil mendekati 3%, serta kecenderungan depresiasi nilai tukar selama periode penelitian. Berdasarkan uji parsial (uji t), inflasi dan nilai tukar tidak memberikan pengaruh signifikan terhadap pembiayaan mudharabah (p > 0,05), sedangkan DPK menunjukkan pengaruh positif yang signifikan (koefisien = 0,034; p = 0,027), mengindikasikan bahwa peningkatan likuiditas dari DPK menjadi faktor penting dalam mendukung pembiayaan akad mudharabah. Uji simultan (uji F) menghasilkan nilai signifikansi sebesar 0,089 dan koefisien determinasi (R²) sebesar 0,637, yang berarti bahwa 63,7% variasi pembiayaan mudharabah dapat dijelaskan oleh model. Dengan demikian, studi ini menyimpulkan bahwa faktor internal lebih dominan daripada faktor eksternal dalam memengaruhi pembiayaan mudharabah. Penelitian lanjutan direkomendasikan untuk memasukkan variabel tambahan serta memperluas cakupan sampel guna meningkatkan ketepatan dan generalisasi model.