Sri Runtiningsih
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The Performance of Islamic Stocks and Conventional Stocks During the COVID-19 Shock: Evidence from Indonesian Stock Market Mohamad Rahmawan Arifin; Ahmad Syahrul Fauzi; Sri Runtiningsih; Frank Aligarh; Arif Nugroho
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 13 No. 1 (2024): April
Publisher : LPPM, Universitas Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v13i1.2340

Abstract

This study aims to analyze the performance of Islamic stocks and conventional stocks in Indonesia during the crisis period due to the COVID-19 pandemic. Islamic stocks and conventional stocks are divided based on sharia compliance qualifications by each stock. The sample used in this study is nine sharia stocks taken from the Jakarta Islamic Index (JII) and nine conventional stocks taken based on nine non-shariah compliance stocks included in the IDX30 Index during 31 August 2020 to 31 July. 2022. The analytical method used in this study is Ordinary Least Square (OLS) using panel data, then this study also uses an interaction variable between the three COVID-19 indicators and the sharia compliance variable which represents company compliance with Islamic principles. The estimation results show that daily confirmed cases of COVID-19 and stringency index have a significant negative effect on stock returns in Indonesia, while daily confirmed deaths due to COVID-19 has no effect on stock returns. Furthermore, the results of the interaction between the COVID-19 indicator measures and the sharia compliance variable show that Islamic stocks show greater performance in crises during the COVID-19 pandemic.
Tourism Sector and Economic Growth on Employment Absorption in Central Java Auliya, Andi; Zainab Azizah; Sri Runtiningsih
Efficient: Indonesian Journal of Development Economics Vol. 8 No. 2 (2025)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/y57rnq25

Abstract

The tourism sector is one of the main drivers of the economy in Indonesia, contributing to GDP, job creation, and regional development. Central Java Province, with a significant contribution to employment absorption and economic growth from the tourism sector, has great potential in terms of nature, culture, and history.  This study aims to analyze the tourism and economic growth on employment absorption in the tourism sector of Central Java. Quantitative analysis with panel data from 35 regencies/cities in Central Java from 2019-2023 uses panel data regression. Data was obtained from BPS and Department of Youth, Sport, and Tourism of Central Java.. The findings show that the F-statistic value is 4.66 with a probability value of 0.011 (<0.05), indicating that the independent variables significantly affect employment absorption. However, of the two independent variables, only the tourism sector has a positive and significant effect. Strengthening the tourism sector through destination promotion and infrastructure is necessary to support economic recovery post-pandemic.