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All Journal Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) Media Trend: Berkala Kajian Ekonomi dan Studi Pembangunan Jurnal Ilmiah Ekonomi Islam Jurnal Ekonomi & Keuangan Islam Al-Masharif: Jurnal Ilmu Ekonomi dan Keislaman International Journal of Economics, Business and Accounting Research (IJEBAR) Asy Syar'iyyah: Jurnal Ilmu Syari'ah dan Perbankan Islam Finansha: Journal of Sharia Financial Management JURNAL ILMIAH GLOBAL EDUCATION Share: Jurnal Ekonomi dan Keuangan Islam Al-Buhuts (e-journal) Journal of Principles Management and Bussines Al-masharif: Jurnal Ilmu Ekonomi dan Keislaman Madania: Jurnal Kajian Keislaman BISNIS : Jurnal Bisnis dan Manajemen Islam
Ajuna, Luqmanul Hakiem
Institut Agama Islam Negeri Sultan Amai Gorontalo
Religion Humanities Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

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Evaluating Financial Performance of Mining Companies Listed on Jakarta Islamic Index Ajuna, Luqmanul Hakiem; Yusuf, Sri Dewi
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 13 No. 1 (2024)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v13i1.17814

Abstract

In Indonesia, mining companies play a crucial role in supporting government economic initiatives. Consequently, assessing their financial performance becomes vital to ensure their viability and contribution to national economic goals. This study investigates the financial performance of mining companies listed on the Jakarta Islamic Index (JII) from 2017 to 2020. Utilizing purposive sampling, financial statements for four companies were obtained from their official websites, the OJK (Financial Services Authority), and the IDX (Indonesia Stock Exchange). A one-way ANOVA test was employed to compare the financial ratios across these companies. The analysis focused on liquidity, activity, solvency, and profitability ratios. The findings reveal that PT. Adaro Energy Tbk (ANDRO) achieved the highest performance, meeting five out of ten industry standard ratios. PT. Aneka Tambang Tbk (ANTM) and PT. Bukit Asam Tbk (PTBA) followed, each meeting four ratios. PT. Vale Indonesia Tbk (INCO) demonstrated the lowest performance, achieving only two industry standard ratios. This research contributes to the understanding of financial performance variations within the JII's mining sector, highlights areas for potential improvement, and offers valuable insights for investors and policymakers.==============================================================================================================ABSTRAK – Mengevaluasi Kinerja Keuangan Perusahaan Pertambangan yang Terdaftar pada Jakarta Islamic Index. Di Indonesia, perusahaan pertambangan memiliki peran penting dalam mendukung inisiatif ekonomi pemerintah. Konsekuensinya, penilaian kinerja keuangan mereka menjadi vital untuk memastikan kelangsungan hidup dan kontribusi mereka terhadap tujuan ekonomi nasional. Penelitian ini menyelidiki kinerja keuangan perusahaan pertambangan yang terdaftar di Jakarta Islamic Index (JII) dari tahun 2017 hingga 2020. Penelitian ini menggunakan metode purposive sampling untuk memilih empat perusahaan pertambangan yang terdaftar di JII. Laporan keuangan perusahaan diperoleh dari situs web resmi mereka, OJK (Otoritas Jasa Keuangan), dan IDX (Bursa Efek Indonesia). Analisis data menggunakan uji ANOVA satu arah untuk membandingkan rasio keuangan antar perusahaan, dengan fokus pada rasio likuiditas, aktivitas, solvabilitas, dan profitabilitas. Hasil penelitian menunjukkan bahwa PT. Adaro Energy Tbk (ANDRO) mencapai kinerja tertinggi, dengan memenuhi lima dari sepuluh rasio standar industri. Diikuti oleh PT. Aneka Tambang Tbk (ANTM) dan PT Bukit Asam Tbk (PTBA) yang masing-masing memenuhi empat rasio. PT. Vale Indonesia Tbk (INCO) menunjukkan kinerja terendah, hanya mencapai dua rasio standar industri. Penelitian ini memberikan gambaran yang jelas mengenai kinerja keuangan perusahaan pertambangan yang terdaftar di JII. Hasil penelitian ini dapat membantu investor dan pembuat kebijakan dalam mengambil keputusan terkait sektor pertambangan.
DO INFLATION AND EXCHANGE RATES MATTER FOR ISLAMIC AND CONVENTIONAL STOCK INDICES? EVIDENCE FROM INDONESIA Ajuna, Luqmanul Hakiem
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.50349

Abstract

Stock Index (ISSI) and the Indonesia Composite Stock Price Index (IHSG). Employing a quantitative approach, the study utilizes monthly secondary data from 2014 to 2023 obtained from the Indonesia Stock Exchange, Bank Indonesia, and the Central Bureau of Statistics. Multiple linear regression analysis is applied to assess both partial and simultaneous effects of macroeconomic variables on Islamic and conventional stock market indices. The empirical results reveal that inflation does not have a significant effect on either ISSI or IHSG. In contrast, the rupiah exchange rate exerts a significant influence on both indices, indicating that exchange rate movements play a more dominant role in shaping stock market performance than inflation. These findings suggest that, within the Indonesian context, exchange rate dynamics constitute a key source of systematic risk affecting both Islamic and conventional equity markets. The results provide empirical support for the Arbitrage Pricing Theory by highlighting the unequal influence of macroeconomic factors on asset prices. This study contributes to the literature by offering comparative evidence on the sensitivity of Islamic and conventional stock markets to macroeconomic conditions in an emerging economy.
KUPAS TUNTAS AL-BAI’ Ajuna, Luqmanul Hakiem
BISNIS Vol 4, No 2 (2016): BiSNIS: Jurnal Bisnis dan Manajemen Islam
Publisher : Universitas Islam Negeri Sunan Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/bisnis.v4i2.2691

Abstract

Some people agreed that trade transaction can give greatadvantages to develop the region. The transaction should bedone properly therefore both of the sides get the benefit. It willbe done if we apply the principle of Syari‟ah. Since Islamspread out by the Prophet Muhammad Saw, it is already wellorganized from the process until the detail things. Trade inIslam will be valid if they fulfilled all the requirements andobedient all the pillars. The problem is mostly happened inkhiyar. Most of the people do not understand well what it isand how to apply khiyar itself. They should be already knownabout it before they want to do the transaction. According toHadist of Moslem they are not allowed to enter the market ifthey do not know the rules. By applying Syari‟ah tradetransaction hopefully can give calm and pleasure to everyoneand the most important thing is get bless from Allah SWT.
Co-Authors A. Mokoagow Abdul Latif Abdul Latif Alfitra Paputungan Ansar Sahabi Ardi, Muhamad Aris Setiawan Karim Dukalang, Hendra Kadim, Immawan Muhajir Moh. Akbar Ibrahim Mohamad, Roni Muhamad Ichksanul Muhammad Amri Muhammad Amri Muhammad Ardi Muhammad Ardi, Muhammad Muhammad Nur Najib, Intan Permatasari Nurain Kude Rahmat Labatjo Riya Andriyani Ahmad Silvana Masita Lestari Spandi Rauf Sri Dewi Yusuf Syawaluddin Syawaluddin, Syawaluddin Tenti Dehi Vany Rolliyta Ansir Wahyudi Rusdi