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Analisis Perbedaan Kinerja Reksa Dana Syariah Di Era Pandemi Covid-19 (Studi Kasus Reksa Dana Syariah Yang Terdaftar Di Aplikasi Bibit) Hanifah, Rifda; Rahman, Aulia Fuad
Reviu Akuntansi, Keuangan, dan Sistem Informasi Vol. 2 No. 1 (2023): Reviu Akuntansi, Keuangan dan Sistem Informasi (REAKSI)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/reaksi.2023.2.1.114

Abstract

this study aims to compare the performance differences of Sharia mutual funds during the Covid-19 pandemic before and during the Covid-19 pandemic and to compare the performance between Sharia mutual funds and similar mutual fund benchmarks during the Covid-19 pandemic. The performance of Sharia mutual funds utilizes the proxy of the value of the Sharpe index. The objects of this study include Sharia fixed-income mutual funds, Sharia stock mutual funds, and Sharia balance mutual funds listed on the Bibit application within the study period from June 2018 until November 2021. The samples involve 18 Sharia mutual funds consisting of 6 Sharia fixed-income mutual funds, 9 Sharia stock mutual funds, and 3 Sharia balance mutual funds. The data are analyzed by the Wilcoxon Signed-Rank Test and the Mann-Whitney U Test utilizing the SPSS 25 software. The study results exhibited an improvement and significant difference in the Sharpe index value of Sharia mutual funds before and during the Covid-19 pandemic, and no significant difference in Sharpe index value on the three types of Sharia mutual funds and their respective benchmarks during the Covid-19 pandemic, proving that sharia mutual funds are a good investment option as they can perform well in bearish economic conditions and compete with other mutual funds in the capital market. Abstrak penelitian ini bertujuan untuk menganalisis perbedaan kinerja reksa dana syariah pada masa pandemi Covid-19 dengan membandingkan kinerja pada masa sebelum dan saat pandemi Covid-19 serta membandingkan kinerja reksa dana syariah dengan kinerja benchmark reksa dana sejenis pada saat pandemi Covid-19. Kinerja reksa dana syariah diproksikan dengan nilai indeks Sharpe. Objek penelitian adalah reksa dana pendapatan tetap syariah, reksa dana saham syariah, dan reksa dana campuran syariah yang terdaftar di apikasi Bibit pada periode penelitian Juni 2018-November 2021. Adapun sampel penelitian adalah 18 reksa dana syariah yang terdiri dari 6 reksa dana pendapatan tetap syariah, 9 reksa dana saham syariah, dan 3 reksa dana campuran syariah. Teknik analisis data yang digunakan adalah Wilcoxon Signed-Rank Test dan Mann-Whitney U Test dengan bantuan program SPSS 25. Hasil penelitian menunjukkan bahwa terdapat peningkatan dan perbedaan signifikan nilai rata-rata indeks Sharpe reksa dana syariah sebelum dan saat pandemi Covid-19 serta tidak terdapat perbedaan signifikan nilai rata-rata indeks Sharpe ketiga jenis reksa dana syariah dengan benchmark masing-masing. Hal ini berarti bahwa reksa dana syariah layak dijadikan opsi investasi dikarenakan mampu berkinerja baik dalam kondisi ekonomi bearish serta mampu bersaing dengan reksa dana lainnya di pasar modal.
The Effectiveness of Problem-Based Critical Arabic Reading Integrating Nabawi Peace Values on Students’ Reading Achievement and Self-Efficacy Setiadi, Samsi; Mahmudah, Ika; Hanifah, Rifda; Mutmainah, Mia; Nafiah, Khotimatun; Masyitoh, Siti
Eralingua: Jurnal Pendidikan Bahasa Asing dan Sastra VOL 10, NO 1 (2026): ERALINGUA
Publisher : Makassar State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/eralingua.v10i1.83066

Abstract

Critical reading competence and reading self-efficacy are essential cognitive and affective components in foreign language learning, particularly in Arabic language education, where students must interpret complex linguistic, historical, and ethical texts. However, traditional reading instruction often emphasizes literal comprehension rather than analytical engagement, resulting in limited development of higher-order reading skills and learner confidence. This study investigates the effectiveness of problem-based critical Arabic reading instruction integrating Nabawi peace values in improving students’ critical reading achievement and reading self-efficacy. Employing a quasi-experimental one-group pretest–posttest design, the study involved 21 undergraduate students enrolled in a Critical Arabic Reading course at a public university in Indonesia. The instructional intervention was conducted using authentic Arabic texts related to the Prophet Muhammad’s peace agreements, implemented through Problem-Based Learning stages including problem orientation, critical analysis, collaborative discussion, and reflective evaluation. Data were collected using a critical reading achievement test and a reading self-efficacy questionnaire validated through item-total correlation and reliability analysis (Cronbach’s alpha = .943–.948). Paired-sample t-test results revealed a statistically significant improvement in students’ critical reading achievement (Mpre = 76.86, Mpost = 87.90, t(20) = −4.518, p < .001, Cohen’s d = 0.99) and reading self-efficacy (Mpre = 70.86, Mpost = 81.52, t(20) = −7.522, p < .001, Cohen’s d = 1.64). These findings indicate that problem-based critical Arabic reading integrating Nabawi peace values has a strong positive effect on both cognitive and affective learning outcomes. The integration of problem-based learning and peace-oriented instructional materials promotes analytical reading competence, enhances learner confidence, and fosters meaningful engagement with texts. This study contributes to Arabic language pedagogy by providing empirical evidence supporting a holistic instructional model integrating cognitive skill development, affective empowerment, and value-based learning.