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All Journal Jurnal Pamator : Jurnal Ilmiah Universitas Trunojoyo Madura Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi Dan Keagamaan
Muhammad Ikhsan Harahap
State Islamic University of North Sumatera
Humanities Economics, Econometrics & Finance Social Sciences

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The Effect of Profitability, Liquidity, Leverage, and BI 7 Days Repo Rate on Dividend Payout Ratio in Telecommunication Companies Listed on the Indonesia Sharia Stock Index (ISSI) 2021-2023 Shauqi Aditya Khalis; Muhammad Ikhsan Harahap; Atika Atika
Jurnal Ilmiah Mizani: Wacana Hukum, Ekonomi Dan Keagamaan Vol 11, No 2 (2024): October
Publisher : Faculty of Sharia (Islamic Law) at Fatmawati Sukarno State Islamic University Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29300/mzn.v11i2.4938

Abstract

The aim of this study is to analyze the effect of profitability, liquidity, leverage, and the BI 7 Days Repo Rate on dividend payouts in Indonesia. The research focuses on four telecommunication companies listed on the Indonesia Sharia Stock Index (ISSI) for the period 2021-2023. The method employed is balanced panel data with a common effect model. The results of the study reveal that debt to equity (leverage) has a significant impact on the dividend payout ratio, while profitability, liquidity, and the BI 7 Days Repo Rate do not significantly influence the dividend payout ratio. This study highlights the importance of leverage in dividend policy for telecommunication companies. Reducing leverage can increase dividend payments, benefiting shareholders. Investors may use lower leverage as an indicator of higher potential dividends. From the perspective of Islamic economic law, companies listed on the Sharia Stock Index are expected to adhere to principles of ethical finance, ensuring transparency and justice in wealth distribution, including dividend payouts. In line with Maqasid al-Shariah, maintaining balanced financial structures that reduce excessive debt is crucial to promoting equitable wealth sharing among stakeholders. Future research should consider expanding the sample, exploring other sectors, extending the time period, and including additional factors such as return on assets, quick ratio, and tax rate.
ANALYSIS OF SUSTAINABLE BUSINESS MODEL DEVELOPMENT IN MSMES WITH THE MAQASHID SHARIA APPROACH IN KUALUH HULU DISTRICT, NORTH LABUHANBATU REGENCY Fitri Adinda Pasaribu; Sri Ramadani; Muhammad Ikhsan Harahap
Jurnal Pamator : Jurnal Ilmiah Universitas Trunojoyo Vol 17, No 3: 2024
Publisher : Universitas Trunodjoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/pamator.v17i3.26588

Abstract

This study aims to analyze the development of sustainable business models in Micro, Small, and Medium Enterprises (MSMEs) in Kualuh Hulu District, North Labuhanbatu Regency, using the Maqashid Sharia approach. Maqashid Sharia, as a conceptual framework in Islamic law, focuses on five main goals: safeguarding religion, soul, intellect, heredity, and property. This research uses a qualitative method. The results of the study show that most MSMEs in Kualuh Hulu have not fully implemented sustainability principles in their business operations. The analysis further identifies several inhibiting and driving factors in the implementation of sustainable business models that are in accordance with Maqashid Sharia. Hindering factors include a lack of knowledge and resources, while driving factors include community support and positive market potential for halal and environmentally friendly products. This study suggests several strategies to develop sustainable business models for MSMEs based on Maqashid Sharia, such as capacity building through training and mentoring, strengthening sharia-oriented business networks, and developing products and services that meet sustainability and sharia standards. Thus, it is hoped that MSMEs in Kualuh Hulu District can increase competitiveness while contributing to sustainable economic development and in accordance with Islamic principles.
Co-Authors Atika Atika Fitri Adinda Pasaribu Shauqi Aditya Khalis Sri Ramadani