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All Journal Menara Ilmu Jurnal Menara Ekonomi : Penelitian dan Kajian Ilmiah Bidang Ekonomi AMAR (Andalas Management Review) EKONOMIKA SYARIAH : Journal of Economic Studies
Arie Sukma
Fakultas Ekonomi Dan Bisnis Universitas Andalas
Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences

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ANALISIS MODAL SOSIAL DAN KOMPENSASI TERHADAP KESEJAHTERAAN RUMAH TANGGA (STUDI KASUS RUMAH TANGGA RESETTLEMENT DI SUMATERA BARAT) Sukma, Arie; Andrianus, Fery; Karimi, Syafruddin
Jurnal Menara Ekonomi : Penelitian dan Kajian Ilmiah Bidang Ekonomi Vol 6, No 3 (2020): Volume VI No. 3 Oktober 2020
Publisher : Jurnal Menara Ekonomi : Pelatihan dan Kajian Ilmiah Bidang Ekonomi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31869/me.v6i3.2130

Abstract

Salah satu tujuan involuntary resettlement adalah untuk meningkatkan kesejahteraan rumah tangga bukan untuk membuat rumah tangga menjadi miskin. Namun faktanya, banyak program involuntary resettlement membuat kehidupan rumah tangga tidak lebih baik dari sebelumya. Untuk mengkaji kondisi kesejahteraan rumah tangga digunakan indikator kebahagian yang terdiri dari 10 indikator. Penelitian ini menggunakan sampel sebanyak 100 KK di dua desa yaitu Tanjung Balik dan Tanjung Pauh, Kecamatan Pangkalan Koto Baru Kabupaten 50 Kota Provinsi Sumatera Barat. Dalam penelitian ini kompensasi dan modal sosial merupakan dua variabelyang berpengaruh terhadap kesejahteraan rumah tangga. Kompensasi yang diterima merupakan kondisi awal dari rumah tangga yang dipindahkan untuk menkonstruksi kehidupan mereka yang baru. Kemudian, modal sosial juga sangat mempengaruhi kondisi kesejahteraan rumah tangga.Hasil analisis structural equation model (SEM) menunjukkan bahwa kompensasi berpengaruh positif terhadap kesejahteraan rumah tangga sedangkan modal social tidak berpengaruh. Kata kunci: involuntary resettlement, kompensasi, modal sosial
THE IMPACT ON THE PANDEMIC CORONAVIRUS DISEASE 2019 (COVID-19) ON HOUSEHOLD WELFARE IN WEST SUMATERA Fery Andrianus; Hefrizal Handra; Arie Sukma; Khaira Alfatih
Menara Ilmu Vol 15, No 1 (2021): VOL. XV NO.1 APRIL 2021
Publisher : LPPM Universitas Muhammadiyah Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31869/mi.v15i1.2502

Abstract

West Sumatera is the province with the highest number of Covid-19 casesin Sumatera Island and nationally it isin the ninth position. Similar to other events at the international and national levels, the spread of Covid-19 in West Sumatera has an impact on the regional economy. It affects not only the growth and other macroeconomic indicators but also the welfare of households and society directly. This study examines the effects of the pandemic Covid-19 on household welfare using objective and subjective indicators and observe into what extent the influence of PSBB and government assistance on community conditions during this pandemic. The results show that firstly, household welfare is above the provincial minimum wage, secondly, PSBB also affects people’s income, and lastly, not all households or communities are informed about the assistance from the government during the pandemic. Keywords: Covid-19, objective and subjective indicators, welfare, provincial minimum
Global Uncertainty and Tail Risk in Indonesia’s Islamic and Conventional Equity Markets Arie Sukma
AMAR (Andalas Management Review) Vol. 10 No. 1 (2026)
Publisher : Management Institute Faculty of Economics Universitas Andalas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25077/amar.10.1.121-142.2026

Abstract

Is the Indonesian Islamic stock market more resilient to extreme risks compared to conventional markets when global uncertainty increases? Using daily data from the Jakarta Islamic Index (JKII) and the Jakarta Stock Exchange Composite Index (JKSE), we integrate the GARCH–EVT approach, quantile regression, and Expected Shortfall (ES) regression to simultaneously investigate the distribution structure and transmission of global uncertainty shocks. We decompose extreme risk into two main components—the structural thickness of the tail distribution and the realized conditional loss due to volatility dynamics—and show that these two dimensions can lead to different conclusions. Our results indicate that the conventional market has a thicker tail distribution, indicating a higher probability of extreme events. However, after accounting for conditional volatility, the Islamic market exhibits slightly larger average extreme losses. On the other hand, no significant difference is found in sensitivity to global uncertainty between the two markets. Our findings suggest that the difference between Islamic and conventional markets lies in the structure of extreme risk formation, not in the shock transmission mechanism. Our study contributes by demonstrating that tail risk should be understood as the result of the interaction between the distribution of extremes and volatility dynamics in the context of global uncertainty.
Explosive Price and Tail Risk in Asean-5 Islamic Equity Markets Arie Sukma
EKONOMIKA SYARIAH : Journal of Economic Studies Vol. 10 No. 1 (2026): June 2026
Publisher : Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30983/es.v10i1.11137

Abstract

This study examines whether explosive prices are associated with extreme tail risk in Islamic equity markets across five ASEAN countries. Using the GSADF framework to identify explosive episodes and a GARCH–EVT approach to measure tail risk, it constructs a panel dataset covering Indonesia, Malaysia, the Philippines, Thailand, and Singapore over 2008–2025. The analysis evaluates four specifications: contemporaneous effects, forward-looking dynamics, post-collapse adjustments, and the frequency of extreme events. The results reveal no consistent relationship between explosive price dynamics and tail risk. The baseline model shows a small contemporaneous effect of approximately 9% of average monthly tail risk, but forward-looking specifications provide no predictive evidence, and post-collapse dynamics do not increase downside risk. Conditional volatility emerges as the dominant driver of tail risk, with substantially larger magnitudes. The findings also indicate strong cross-market heterogeneity, where more developed markets, such as Singapore, experience reductions in both the intensity and frequency of tail events during explosive episodes. These results are robust across alternative volatility specifications, including GJR-GARCH models. The evidence suggests a decoupling between price dynamics and risk formation. These findings have important implications for Islamic financial stability analysis and show that risk in Islamic financial markets is shaped more by volatility dynamics and market structure than by price behavior alone
Co-Authors Fery Andrianus, Fery HANDRA, HEFRIZAL Khaira Alfatih Syafruddin Karimi, Syafruddin