Misnen Ardiansyah
Universitas Islam Negeri Sunan Kalijaga Yogyakarta

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Dampak Shock Indeks Saham Syariah Global dan Indeks Saham Syariah Regional ASEAN Terhadap Perubahan Harga Saham Pada Jakarta Islamic Index Farradila Geta Oceania; Misnen Ardiansyah
Jurnal Multidisiplin West Science Vol 2 No 03 (2023): Jurnal Multidisiplin West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jmws.v2i03.243

Abstract

Adanya globalisasi dan liberalisasi di pasar keuangan, investasi antar negara, dan peningkatan perusahaan multinasional dapat menghubungkan pasar di berbagai negara. Ketika terjadi satu peristiwa di suatu negara, maka negara sekitarnya akan terimbas oleh peristiwa tersebut. Penelitian ini bertujuan untuk mengetahui dan menjelaskan dampak shock yang terjadi pada indeks saham syariah global dan regional Asean terhadap perubahan harga saham di JII. Metode yang digunakan adalah Vector Error Correction Model (VECM) dengan Eviews12 untuk menganalisis hubungan jangka panjang dan jangka pendek. Populasi dalam penelitian ini adalah indeks saham syariah global dan Asean dengan Sampel Dow Jones Islamic Market China/Hongkong (DJICHK), Dow Jones Islamic Market Japan (DJIJP), Dow Jones Islamic Market US (DJIMUS), FTSE Bursa Malaysia Emas Sharia Index (FBMS), dan FTSE SFX Asia Sharia100 (SGS100). Hasil penelitian menunjukkan bahwa terdapat dua indeks pasar saham syariah yang memiliki hubungan jangka pendek yaitu DJIMUS, dan DJIJP. Sedangkan, dalam jangka panjang seluruh variabel mempengaruhi Jakarta Islamic Index (JII) Kecuali FBMS. Nilai IRF dan VD menunjukkan DJIMUS memberikan kontribusi terbesar terhadap perubahan harga saham JII. Sementara, kontribusi terkecil diberikan oleh SGS100.
Islamic Spiritual Well-Being as a Mediator in CRM–Loyalty Relationships: Evidence from Islamic Microfinance Nurul Huda; Misnen Ardiansyah; Mukhamad Yazid Afandi
Business and Applied Management Journal Vol. 3 No. 1 (2025)
Publisher : Al-Qalam Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/bamj.v3i1.528

Abstract

This study examines the influence of Customer Relationship Management (CRM) on customer loyalty among Muslim members of Islamic microfinance institutions and investigates the mediating role of Islamic Spiritual Well-Being (ISWB). Grounded in the Stimulus–Organism–Response (S–O–R) framework and the Islamic moral economy perspective, the study explores how CRM can cultivate loyalty rooted in Islamic values within Baitul Maal Wat Tamwil (BMT), a community-based Islamic financial cooperative. A quantitative cross-sectional survey was conducted with 225 members of BMT Nahdlatul Ulama in Madura, Indonesia. ISWB was measured using a nine-item scale representing Islamic virtues such as Falah, Taqarrub, Itqan, Istiqamah, Ta’awun, Ikhlas, Akhlaq, Tawazun, and Qana’ah, while CRM and customer loyalty were measured using established scales. Data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4 and bootstrapping (5,000 resamples). The findings show that CRM significantly influences ISWB (β = 0.780, p < 0.001) and directly affects customer loyalty (β = 0.180, p < 0.05). ISWB also significantly enhances customer loyalty (β = 0.541, p < 0.001) and partially mediates the CRM–loyalty relationship (indirect β = 0.422), accounting for 70.1% of the total effect. These results highlight the importance of integrating Islamic values into CRM practices to strengthen spiritually grounded customer loyalty in Islamic financial institutions.
Corporate governance and Islamic social reporting disclosure: evidence from Islamic bank in ASEAN Anggita Renata Sari; Misnen Ardiansyah; Narong Hassanee
Journal of Islamic Accounting and Finance Research Vol. 7 No. 2 (2025)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2025.7.2.25891

Abstract

Purpose - This study aims to analyze the effect of CEO power, independent board of commissioners, capital structure, and firm size on Islamic social reporting disclosure, as well as to explore the role of profitability as a moderating variable. Method - Using the random effect model and data analysis with EViews 12, the research sample includes Islamic banks in Malaysia, Indonesia, and Brunei Darussalam during the period from 2018 to 2023, with a population of 20. Result - CEO power has no significant effect on isr disclosure, while the independent board of commissioners and firm size have a significant positive effect. Capital structure shows a positive but insignificant effect, with profitability moderating the relationship between capital structure and firm size on isr disclosure. Implication - Good corporate governance and management commitment are essential for enhancing ISR disclosure, which is key to maintaining the reputation and transparency of Islamic banks in ASEAN. Originality - This study is the first to examine Islamic social reporting disclosure by integrating corporate governance factors and profitability across three ASEAN countries.