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All Journal Al-Muamalat : Jurnal Ekonomi Syariah Jurnal Ekonomi Kesehatan Indonesia
Projo, Nucke Widowati Kusumo
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Health Professions Medicine & Pharmacology Public Health Social Sciences

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Determinan Belanja Kesehatan Rumah Tangga di Pulau Jawa Menggunakan Geographically Weighted Regression Fadhila, Yaulanda; Projo, Nucke Widowati Kusumo
Jurnal Ekonomi Kesehatan Indonesia Vol. 9, No. 1
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The success of a country’s health development is marked by achieving fair access to healthcare and protecting the population from financial risks of health. Household spending on healthcare, or out-of-pocket (OOP) expenses, in Indonesia, remains far above the ideal limit set by the WHO. There is a noticeable disparity in OOP health expenditures across provinces in Indonesia. The five provinces with the highest per capita OOP expenses are on Java island. This high per capita OOP spending on Java indicates potential issues with access to healthcare services and financial protection in this region. This study aims to identify factors influencing household OOP health expenditures by considering regional effects in Java. The research utilizes secondary data from the 2022 National Socio-Economic Survey (Susenas) and data from BPS publications. The method used is spatial analysis with geographically weighted regression (GWR). The results indicate that all study variables affect household OOP health expenditures in Java’s districts and cities. Life expectancy, average years of schooling, transportation expenses to health facilities, the doctor-to-population ratio per 1,000 people, and the percentage of inpatient cases positively correlate with household OOP health spending. The variables of health insurance ownership percentage and poverty rate negatively correlate with household OOP health expenditures in each district and city in Java. However, the significance of local coefficients shows variation in the number of towns and neighborhoods for each variable. Thus, different variables influence each district and city on Java.
The Impact of EPS, PER, CR, and ROE on the Sharia Share Prices on the Indonesia Stock Exchange Umardilopa, Jevi Azi; Projo, Nucke Widowati Kusumo
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.38183

Abstract

The public's need for Sharia investment is also increasing along with an increase in the number of Muslim populations. From 2019 to 2023, the total number of Sharia stock firms on the Indonesia Stock Exchange (IDX) has consistently remained stable or increased, without any decline. Behind these prospects, Sharia companies show quite volatile stock price movements. Therefore, a financial ratio analysis needs to be carried out. Financial ratios such as Earnings per Share (EPS), Price to Earnings Ratio (PER), Current Ratio (CR), and Return on Equity (ROE) are useful for assessing a company's valuation. Novelty in this paper is the integration of Sharia principles with financial ratios to assess the condition of Sharia companies. This study aims to analyze the effect of EPS, PER, CR, and ROE on the Sharia stock price. The research utilized secondary data from the second trimester of 2023 obtained from the IDX. The research methods are analysis descriptive and inferential analysis using robust regression. This research shows that EPS variable, PER variable, and ROE variable have a positive and significant impact on Sharia share prices, meanwhile CR has no significant effect and has a negative direction on the stock prices of Sharia company. Therefore, investors need to consider the EPS value, PER, and ROE before making investment decisions. This study's findings could be utilized by investment organizations to identify important factors affecting stock prices therefore potential investors may use it as guidance to get optimal profit.
The Impact of EPS, PER, CR, and ROE on the Sharia Share Prices on the Indonesia Stock Exchange Umardilopa, Jevi Azi; Projo, Nucke Widowati Kusumo
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 1 (2025): January
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.38183

Abstract

The public's demand for Sharia-compliant investment has been increasing in tandem with the growth of the Muslim populations. Between 2019 and 2023, the total number of Sharia-compliant stock firms listed on the Indonesia Stock Exchange (IDX) has consistently remained stable or increased, with no recorded decline. Despite this promising trend, Sharia companies show quite volatile stock price movements. Therefore, conducting a financial ratio analysis is essential. Financial ratios such as Earnings per Share (EPS), Price to Earnings Ratio (PER), Current Ratio (CR), and Return on Equity (ROE) are useful for assessing a company's valuation. This study's novelty lies in integrating Sharia principles with financial ratio analysis to evaluate the financial health of Sharia-compliant firms. This research aims to analyze the influence of EPS, PER, CR, and ROE on the stock prices of Sharia companies. The research utilizes secondary data from the second trimester of 2023, obtained from the IDX. The research employs descriptive and inferential analysis using robust regression. The findings indicate that EPS variable, PER variable, and ROE variable have a positive and significant impact on Sharia stock prices. Conversely, CR has no significant effect and has a negative correlation with the stock prices of Sharia companies. Therefore, investors need to consider the EPS value, PER, and ROE before making investment decisions.
Co-Authors Fadhila, Yaulanda Umardilopa, Jevi Azi