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Dampak Seruan Boikot Umat Muslim terhadap Return Saham Perusahaan Terafiliasi Israel: Sebuah Analisis Event Study Kamila Maraya Harish; Cupian Cupian
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 1 (2025): Januari : Jurnal Inovasi Ekonomi Syariah dan Akuntansi (JIESA)
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i1.782

Abstract

This study aims to analyze the impact of the Muslim boycott call after the issuance of Fatwa MUI No. 83 on the stock returns of Israel-affiliated companies listed on the Indonesia Stock Exchange. The stocks selected for the study include UNVR, FAST, MAPI, MAPA, MAPB, and PZZA. The results of this study indicate that there is no significant difference in the stock returns of companies affiliated with Israel after the issuance of Fatwa MUI No. 83 on November 8, 2023. This finding indicates a delay in the market response to public information related to the boycott call, which is characteristic of markets with lower efficiency levels. This research is expected to provide insights for the public and investors regarding the dynamics of the capital market in Indonesia in responding to a social event. In addition, the results of this study can also be taken into consideration for market authorities and related institutions in evaluating policies aimed at improving capital market efficiency in Indonesia.
Dampak Zis, Korupsi, Dan Pendidikan Terhadap Tingkat Ketimpangan Pendapatan di Negara Berkembang: Studi Kasus di Indonesia Ramadhansyah Rayyan Effendy; Verina Araminda Prinary; Cupian Cupian; Ardi Apriliadi
SANTRI : Jurnal Ekonomi dan Keuangan Islam Vol. 3 No. 1 (2025): SANTRI : Jurnal Ekonomi dan Keuangan Islam
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/santri.v3i1.1241

Abstract

This study seeks to examine and assess the influence of Zakat, Infaq, and Sedekah (ZIS), corruption, and education on income inequality in Indonesia. The research uses a saturated sampling method, collecting data from the National Zakat Amil Agency (BAZNAS), Transparency International, the Central Statistics Agency (BPS), and the World Bank. The analysis uses quantitative time-series data from 2011 to 2022, processed with Stata 15, and employs multiple linear regression as the analytical method. The results indicate that ZIS has a significant negative effect on income inequality, while corruption also significantly reduces income inequality. On the other hand, education shows a positive but statistically insignificant effect. The coefficient of determination test reveals that 93.06% of the variation in income inequality can be explained by ZIS, corruption, and education, with the remaining 6.94% attributed to other factors not included in the study. Additionally, the findings suggest that ZIS and corruption together have a notable influence on income inequality.
Estimasi Peramalan Volatilitas Return Saham Perusahaan Sektor Energi Pada Indeks Saham Syariah Indonesia (ISSI) Danisya Kayla Putri Mayari; Cupian Cupian; Sarah Annisa Noven
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 1 (2025): Januari : Jurnal Inovasi Ekonomi Syariah dan Akuntansi (JIESA)
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i1.826

Abstract

This study aims to determine the forecasting of stock return volatility of energy companies listed on the Indonesian Sharia Stock Index (ISSI) using the ARCH/GARCH method. This study uses purposive sampling method and uses secondary data in the form of daily stock returns from January 2022 to June 2024 on 10 selected stocks. Data processing is done using Stata software. The results showed that of the 10 selected stocks, only 6 stocks, namely BYAN, ADRO, GEMS, PTBA, AKRA, and BSSR, were suitable for analysis using the ARCH/GARCH model. Meanwhile, PGAS, ITMG, PTRO, and HRUM do not show ARCH effect or do not contain heteroscedasticity. Statistical evaluation of volatility prediction shows that the selected models provide good predictions. Among the six stocks analyzed, ADRO, PTBA, and BSSR show high volatility, while BYAN, GEMS, and AKRA show low volatility. Therefore, investors should consider investment risk when evaluating stocks with different levels of volatility.
Analisis Pengaruh Halal Brand Awareness, Viral Marketing dan Service Quality Terhadap Brand Image Coffee Shop di Kota Tasikmalaya Alwan Azis Mustafa; Adhi Prapaskah Hartadi; Cupian Cupian
Journal of Islamic Economics and Finance Vol. 3 No. 2 (2025): Mei: Journal of Islamic Economics and Finance
Publisher : STIKes Ibnu Sina Ajibarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59841/jureksi.v3i2.2472

Abstract

Coffee shops have grown rapidly as part of a modern lifestyle, particularly in Tasikmalaya City, which is known as a city of Islamic boarding schools with a majority Muslim population and high religiosity. However, there are still many coffee shops in the city that have not been registered for halal certification, leading to confusion among Muslim consumers regarding what is permissible to consume according to sharia law. This issue highlights the need for clear information on halal products to help Muslim consumers make informed choices when visiting coffee shops. Therefore, the purpose of this study is to examine the effect of halal brand awareness, viral marketing, and service quality on the brand image of coffee shops in Tasikmalaya City. The study uses a quantitative approach with a survey method. Data were collected through questionnaires, which were distributed both online and directly to Muslim generation Z coffee shop consumers in Tasikmalaya City, with a total of 131 respondents. The sampling method used was purposive sampling. Data analysis was conducted using the Structural Equation Modeling (SEM) technique with the help of SmartPLS 4 software. The results of the study indicate that halal brand awareness, viral marketing, and service quality have a positive and significant effect on the brand image of coffee shops in Tasikmalaya City. These findings suggest that improving halal brand awareness, leveraging viral marketing strategies, and providing excellent service quality are essential for enhancing the brand image and attracting more Muslim consumers to coffee shops in the city.
Pengaruh Sertifikat Halal, Kualitas Produk dan Strategi Pemasaran Terhadap Penjualan Produk Makanan Home Industry Sania Rizki Maharani; Cupian Cupian; Adhi Prapaskah Hartadi
Jurnal Ekonomi dan Pembangunan Indonesia Vol. 3 No. 2 (2025): Mei : Jurnal Ekonomi dan Pembangunan Indonesia
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jepi.v3i2.1332

Abstract

This study focuses on examining the impact of halal certification, product quality, and marketing strategy on the sales of Home Industry food products. A descriptive quantitative approach was adopted to analyze the relationship between variables. Data were collected through questionnaires distributed to 170 respondents who were food product business actors Home Industry in Sariwangi District, Tasikmalaya Regency, West Java Province. The collected data were analyzed using the Structural Equation Modeling method with a Partial Least Squares (PLS-SEM) approach. The results show that both halal certification and marketing strategy have a significant positive effect on sales of Home Industry food products. Meanwhile, product quality does not show a significant effect on sales. The study also indicates that halal certification has the strongest influence on sales compared to the other variables.
Analisis Tingkat Efisiensi Kinerja Keuangan Bank Umum Syariah di Indonesia Pendekatan Data Envelopment Analysis (Periode Tahun 2020-2024) Jovan Baihaqi Irwan Putra; Cupian Cupian; Nurul Rahmah Kusuma
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 4 (2025): Juli: Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i4.1245

Abstract

This study aims to analyze the level of efficiency of the financial performance of Islamic commercial banks in Indonesia using the Data Envelopment Analysis (DEA) method. This study uses a purposive sampling method and uses secondary data in the form of input and output variables from 2020 to 2024 at 10 selected Islamic Commercial Banks (BUS). Data processing was carried out using MaxDEA 12.2 software. The results of the study show that the average annual efficiency level is relatively stable, ranging from 0.773 to 0.817. 2023 recorded the highest average efficiency level, indicating an increase in input management in most banks. Conversely, 2022 was the period with the lowest efficiency, which was likely due to increasing inefficiency or less than optimal utilization of resources in that year. Individually, only Bank Panin Dubai Syariah, Bank Syariah Bukopin, and BTPN Syariah emerged as the banks with the most efficient performance, marked by efficiency scores approaching or reaching 1 in almost all years of the study.
Analisis Pengaruh Inklusi Keuangan Syariah, Perbankan Syariah, dan Pasar Modal Syariah terhadap Pertumbuhan Ekonomi di Indonesia Periode 2013-2023 Vika Anjani; Cupian Cupian
Journal of Islamic Economics and Finance Vol. 3 No. 2 (2025): Mei: Journal of Islamic Economics and Finance
Publisher : STIKes Ibnu Sina Ajibarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59841/jureksi.v3i2.2718

Abstract

This study aims to evaluate the long-run and short-run relationship between the Islamic capital market and Islamic banking on Indonesia's economic growth over the period 2013-2023. Using a quantitative approach and the Vector Error Correction Model (VECM) method, this study analyzes the dynamics between these variables. The data used includes the Indonesian Sharia Stock Index (ISSI), Islamic bonds, Islamic banking third-party funds (DPK), non-performing financing (NPF), and real gross domestic product (GDP) as an indicator of economic growth. The analysis shows that in the long run, both the Islamic capital market and Islamic banking contribute significantly to economic growth. However, in the short term, only a few variables show a significant effect. These findings confirm the strategic role of the Islamic financial sector in supporting sustainable economic growth, as well as the importance of strengthening and developing Islamic instruments to support national economic stability and progress.
Analisis Pengaruh Hubungan Antara Uang Saku dan Literasi Keuangan dengan Perilaku Konsumsi Siswa : (Studi Kasus Pada SMAS Al-Kahfi Islamic Boarding School) Rianti Sukma Dewi; Naufal Fiqri Akmal; Cupian Cupian; Yulistyne Kusumaningrum
Journal of New Trends in Sciences Vol. 3 No. 4 (2025): November: Journal of New Trends in Sciences
Publisher : CV. Aksara Global Akademia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59031/jnts.v3i4.741

Abstract

This study aims to analyze the influence of pocket money and Islamic financial literacy on student consumption behavior at SMAS AL-KAHFI Islamic Boarding School. The research background is based on the importance of students' understanding of personal financial management, especially in the context of pesantren based education that integrates sharia values. The research method used was quantitative with a multiple linear regression approach to test the relationship between free variables (sharia allowance and financial literacy) and bound variables (consumption behavior). The population in this study is all students of SMAS AL-KAHFI which is 675 people. A sample of 60 students was selected using the Hair et al. formula, with data collection techniques through questionnaires as primary data sources and literature studies as secondary data. Data analysis is carried out with the help of statistical software to test the validity, reliability, and significance of relationships between variables. The results of the study show that simultaneously, pocket money and Islamic financial literacy have a significant influence on students' consumption behavior. Partially, allowances have a positive and significant effect, showing that the larger the allowance received, the higher the tendency of students to consume. Meanwhile, Islamic financial literacy has a positive but insignificant effect, which indicates that understanding of Islamic finance principles has not fully affected students' consumption patterns in real terms. A determination coefficient of 85.5% indicates that both independent variables are able to explain most of the variation in students' consumption behavior, while the rest are influenced by other factors outside the model. This research contributes to the development of Islamic finance education in the pesantren based school environment and becomes the basis for wiser management of pocket money among students.
Analisis Implementasi Akad Murabahah Penyelesaian Pembiayaan Bermasalah Usaha Mikro Melalui Lelang Agunan di BSI KC Ahmad Yani Natia Nurfaza; Cupian Cupian; Donny Hardiawan
Jurnal Inovasi Ekonomi Syariah dan Akuntansi Vol. 2 No. 6 (2025): November : Jurnal Inovasi Ekonomi Syariah dan Akuntansi
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jiesa.v2i6.1717

Abstract

This study analyzes the implementation of the murabahah contract in resolving Non-Performing Financing (NPF) for micro-enterprises through collateral auction at the Bank Syariah Indonesia (BSI) Ahmad Yani Branch Office, Area Bandung Raya. The primary objective is to analyze the conformity of the auction process with comprehensive Sharia principles (fiqih muamalah), particularly focusing on the final stage of debt resolution. Employing a qualitative-descriptive method, data was gathered through literature review and direct interviews with personnel from the bank's collection and recovery department. The findings indicate that the NPF resolution procedure is conducted systematically and ethically, beginning with warnings, mediation, and intensive restructuring efforts, such as rescheduling and reconditioning, in line with the spirit of ta'awun and Fatwa DSN MUI No. 48/2005. The auction is only performed as a final, likuidatif resort when the customer is non-cooperative or entirely unable to pay after all 3R attempts have failed. Crucially, the process generally aligns with positive regulations and Sharia provisions, including the transparent process of Muzayyadah through KPKNL. Key aspects of Sharia compliance include the bank's commitment to returning any surplus funds from the collateral sale directly to the customer, thereby avoiding ghulul (fraudulent gain), and the provision of the option to waive the remaining debt for customers deemed genuinely unable to fulfill their obligations, in line with Fatwa DSN MUI No 47/DSN-MUI/II/2005. This research provides practical insights for Islamic financial institutions on balancing effectiveness in debt resolution with the imperative of comprehensive Sharia compliance and ethical transactional justice.