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The Moderating Role of Sukuk Rating in the Relationship Between Financial Indicators and Corporate Sukuk Yield Nurul Rachmaini; Melzatia Shinta; Nurhasanah Nurhasanah; Mohd ‘Adli Zahri
Journal of Islamic Economics and Social Science (JIESS) Vol 3, No 1 (2022)
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jiess.2022.v3i1.005.

Abstract

As an investment and financing vehicle, Sukuk plays a significant role in Indonesia, which are predominantly Muslim, to address the demand for sharia-based investment and financing instruments. However, the gap between Sukuk and Bonds is still very large, as the development of Sukuk is far less than that of Bonds. This causes investors and issuers to examine the viability of their Sukuk investments, particularly in terms of the risks they undertake and the amount of return they receive. This study aims to assess the impact of financial parameters on the yield of Corporate Sukuk, with rating serving as a moderating variable. This study makes use of quantitative secondary data. The sample consists of enterprises with outstanding Sukuk from 2015 to 2020. The findings of this study demonstrate that liquidity, solvency, and profitability have little effect on the yield of Corporate Sukuk before or after rating moderating. Even though the rating has a substantial negative impact on yield, it cannot alter the impact of financial ratios on yield.
Concerning Climate Change: Assessing the Potential of Islamic Business Entities to Promote Environmental Sustainability Lucky Nugroho; Shinta Melzatia; Nurhasanah; Erik Nugraha; Audita Setiawan; Ibrahim Musa Gani
Proceeding International Annual Conference Economics, Management, Business, and Accounting Vol. 1 (2023): Proceeding International Annual Conference Economics, Management, Business, and Accou
Publisher : IAEI

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Abstract

The current climate change has threatened human life, which has a negative impact on human health and the preservation of the natural environment. Therefore, this research aims to determine whether the existence of Islamic business entities can maintain environmental sustainability. The method used in this conceptual paper is a descriptive qualitative method that aims to answer the formulation of the problem: whether the concept of Islamic business entities can support environmental sustainability. The results of this conceptual paper are: (i) Islamic business entities have a strong commitment to environmental sustainability; (ii) The pillars of Islamic business entities include financial aspects, social aspects, environmental sustainability aspects, and spiritual aspects; (iii) The primary purpose of the existence of Islamic business entities is to provide safety in the world and happiness in the hereafter; and (iv) Islamic business entities aim to provide sustainable benefits to society and the environment. The implication of this conceptual paper is to provide scientific knowledge in environmental sustainability and Islamic economics.