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p-Index From 2021 - 2026
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All Journal DEVOSI UBMJ (UPY Business and Management Journal)
Muhammad Rofi'i
Unknown Affiliation
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

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PENINGKATAN PEMAHAMAN WAKAF BAGI PENGURUS DEWAN KEMAKMURAN MASJID Huda, Nurul; Muhammad Rofi'i; Gani, Ariel Nian; Maulana, Aya Yahya; Luhur, Irgi Alfariz; Ashilah, Nasywa Athaya
DEVOSI Vol 6 No 2 (2025): Devosi: Jurnal Pengabdian Masyarakat
Publisher : LPPM Universitas Islam 45 Bekasi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33558/devosi.v6i2.11377

Abstract

This community service program aimed to enhance the knowledge and capacity of Mosque Prosperity Council (DKM) administrators regarding cash waqf as a sustainable alternative funding source for mosques. The training was held on June 20, 2025, at Jami’ YARSI Mosque, involving 18 participants representing mosques around YARSI University. The program employed lectures, interactive discussions, and evaluations through pre-test and post-test. The analysis results indicated a significant improvement in participants’ understanding after the training, as evidenced by a Sig. (2-tailed) value of 0.000 < 0.05. Furthermore, participant evaluations showed highly positive responses to the relevance of the material, the competence of the speakers, and the adequacy of the facilities. Based on this success, the program will proceed to the mentoring stage for establishing a cash waqf nazhir institution, including obtaining official licensing from the Indonesian Waqf Board (BWI) and collaborating with Islamic Financial Institutions authorized to receive cash waqf (LKS-PWU). The implementation of this follow-up stage is expected to realize financial independence for mosques and optimize their role as centers of community economic empowerment based on waqf, thereby providing sustainable benefits for the surrounding community.
Fundamental Determinants of Stock Returns: Evidence from Property and Real Estate Companies Muhammad Rofi'i
UPY Business and Management Journal (UMBJ) Vol. 5 No. 1 (2026): UBMJ (UPY Business and Management Journal)
Publisher : Department of Management, Universitas PGRI Yogyakarta.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31316/ubmj.v5i1.8543

Abstract

Purpose: This study aims to examine the impact of key financial indicators on stock returns of property and real estate companies during the 2020Q2–2024Q4 period. The research seeks to identify which financial ratios most strongly influence market valuation in a sector characterized by high capital intensity and cyclical demand, particularly during the post-pandemic recovery phase. Methodology: The study adopts a quantitative approach using secondary panel data from ten listed companies. Multiple linear regression analysis with the Random Effect Model (REM) was applied using Eviews. Findings: The results indicate that leverage has a negative and significant effect on stock returns, implying that higher debt exposure increases financial risk and weakens investor sentiment. In contrast, profitability shows a positive and significant relationship, suggesting that greater equity efficiency enhances profitability and investor confidence. Liquidity and Market Value exhibit no significant impact, indicating that short-term liquidity and per-share earnings are less influential in determining stock performance in this sector. These findings confirm that investors in property and real estate prioritize risk management and capital efficiency over temporary liquidity or earnings fluctuations. Originality: This study contributes to the literature by incorporating both the Covid-19 downturn and recovery periods, providing updated empirical evidence on how financial ratios serve as market signals consistent with signaling theory and capital structure theory in emerging markets. Research limitations: The limited sample size and sector-specific scope may constrain generalizability to other industries. Practical implications: The results highlight the strategic importance of prudent leverage management and efficient equity utilization for maintaining investor trust and sustaining long-term stock performance.
Co-Authors Ashilah, Nasywa Athaya Gani, Ariel Nian Luhur, Irgi Alfariz Maulana, Aya Yahya Nurul Huda