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Resilience Test: The Interplay of Macro Trends and Troubled Financing in Indonesian Sharia People's Financing Bank Siregar, Depanan Habib; Rasyid, Arbanur; Gautama, Budi; Nasirin, Wanda Khairun
AL-MASHARIF: JURNAL ILMU EKONOMI DAN KEISLAMAN Vol 12, No 2 (2024)
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/masharif.v12i2.14705

Abstract,The increasing trend of BPRS in Indonesia signifies extensive community funding. However, some provinces faced problematic financing, with NPF exceeding 5%, notably over 10% in certain areas. Macroeconomic trends impact socio-economic conditions, leading to financial challenges like inflation fluctuations, unstable Rupiah exchange rates, and a significant decline in the BI Rate affecting the competitiveness of Sharia financing against conventional loans. The study aims to analyze the relationship between macroeconomic factors and troubled financing in Indonesian BPRS. Employing Purposive Sampling across 20 provinces with the largest assets from 2019 to 2022, the Panel Granger Causality analysis indicates a connection between the exchange rate and NPF. However, economic growth, inflation, and BI Rate show no association with NPF. This suggests significant exchange rate exposure in the BPRS portfolio, necessitating cautious foreign exchange risk management through hedging, regular currency movement monitoring, and consideration of local currency financing policies. Sharia-compliant hedging via forward agreement contracts aligning with Fatwa DSN-MUI No.96/DSN-MUI/IV/2015, PBI No. 18/2/PBI/2016, and Opini DPS No. 17/26/DPS/XII/2015 on Sharia Hedging Plans should be implemented.

Human Development Index and Halal Tourism Performance: Case Study of The Country with The Lowest Safety for Muslim Tourists Lubis, Rukiah; Rusydiana, Aam; Nasirin, Wanda Khairun; Kartikawati, Dwi Ratna
AMWALUNA (Jurnal Ekonomi dan Keuangan Syariah) Vol 7, No 2 (2023)
Publisher : Univeristas Islam Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29313/amwaluna.v7i2.11135

The purpose of this study is to see the cause and effect between the Human Development Index and the Global Muslim Travel Index. This research was conducted using quantitative research methods for a dataset of five countries with low security levels. The study was analyzed by the Bayesian Vector Autoregression Panel using Eviews 10. The findings reveal that there is no interaction and contribution between the Human Development Index and the Global Muslim Travel Index in countries with weak security levels for Muslim tourists. However, according to the PBVAR estimate, the Human Development Index affects the Global Muslim Travel Index, as well as the Global Muslim Travel Index affects the Human Development Index. Then the results of the IRF test explained that the Human Development Index and the Global Muslim Travel Index had a stable response in the second period. Finally, the decomposition analysis explains that the Human Development Index and the Global Muslim Travel Index have their respective roles from the first period to the tenth period. Through this research, it is hoped that the relevant state governments can mix policies and anticipate shocks that occur. Therefore, the researcher proposes to increase security for Muslim tourists visiting their country and implement various facilities that support comfort for Muslim tourists.

Dynamic Information Transparency and Timeliness of Financial Reporting: Opportunistic Theory Lubis, Rizki Mulia; Siregar, Fatahuddin Aziz; Hasibuan, Abdul Nasser; Nasirin, Wanda Khairun; Daulay, Nurfia Sintia
AL-MASHARIF: JURNAL ILMU EKONOMI DAN KEISLAMAN Vol 11, No 2 (2023)
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/masharif.v11i2.10167

The delay in financial reporting among Sharia-listed manufacturing companies poses a challenge in leveraging dynamic information transparency to influence timely financial reporting, aligning with Opportunistic Theory. This study aims to analyze financial aspects and corporate governance's impact on reporting timeliness, with tax avoidance as a mediator. Employing Purposive Sampling with 111 manufacturing firms, the SEM-PLS formative model reveals ROA, ROE, DAR, DER, independent board, and audit committee individually affect reporting timeliness. Additionally, tax avoidance significantly mediates the relationship between financial ratios, governance, and reporting punctuality. This suggests the crucial role of tax management in steering corporate decisions and highlights implications for sustainable tax policies, minimizing adverse impacts on financial reporting integrity.

Resilience Test: The Interplay of Macro Trends and Troubled Financing in Indonesian Sharia People's Financing Bank Siregar, Depanan Habib; Rasyid, Arbanur; Gautama, Budi; Nasirin, Wanda Khairun
AL-MASHARIF: JURNAL ILMU EKONOMI DAN KEISLAMAN Vol 12, No 2 (2024)
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/masharif.v12i2.14705

Abstract,The increasing trend of BPRS in Indonesia signifies extensive community funding. However, some provinces faced problematic financing, with NPF exceeding 5%, notably over 10% in certain areas. Macroeconomic trends impact socio-economic conditions, leading to financial challenges like inflation fluctuations, unstable Rupiah exchange rates, and a significant decline in the BI Rate affecting the competitiveness of Sharia financing against conventional loans. The study aims to analyze the relationship between macroeconomic factors and troubled financing in Indonesian BPRS. Employing Purposive Sampling across 20 provinces with the largest assets from 2019 to 2022, the Panel Granger Causality analysis indicates a connection between the exchange rate and NPF. However, economic growth, inflation, and BI Rate show no association with NPF. This suggests significant exchange rate exposure in the BPRS portfolio, necessitating cautious foreign exchange risk management through hedging, regular currency movement monitoring, and consideration of local currency financing policies. Sharia-compliant hedging via forward agreement contracts aligning with Fatwa DSN-MUI No.96/DSN-MUI/IV/2015, PBI No. 18/2/PBI/2016, and Opini DPS No. 17/26/DPS/XII/2015 on Sharia Hedging Plans should be implemented.

Dynamic Information Transparency and Timeliness of Financial Reporting: Opportunistic Theory Lubis, Rizki Mulia; Siregar, Fatahuddin Aziz; Hasibuan, Abdul Nasser; Nasirin, Wanda Khairun; Daulay, Nurfia Sintia
AL-MASHARIF: JURNAL ILMU EKONOMI DAN KEISLAMAN Vol 11, No 2 (2023)
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/masharif.v11i2.10167

The delay in financial reporting among Sharia-listed manufacturing companies poses a challenge in leveraging dynamic information transparency to influence timely financial reporting, aligning with Opportunistic Theory. This study aims to analyze financial aspects and corporate governance's impact on reporting timeliness, with tax avoidance as a mediator. Employing Purposive Sampling with 111 manufacturing firms, the SEM-PLS formative model reveals ROA, ROE, DAR, DER, independent board, and audit committee individually affect reporting timeliness. Additionally, tax avoidance significantly mediates the relationship between financial ratios, governance, and reporting punctuality. This suggests the crucial role of tax management in steering corporate decisions and highlights implications for sustainable tax policies, minimizing adverse impacts on financial reporting integrity.

Detection of Financial Distress in Bank Muamalat Indonesia with Bankometer and The Sustainable Remedial Measures Nursalamah, Nursalamah; Lubis, Abdul Latif; Nasirin, Wanda Khairun; Harahap, Asmul Fauzi
Innovative: Journal Of Social Science Research Vol. 4 No. 4 (2024): Innovative: Journal Of Social Science Research
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/innovative.v4i4.14173

Bank Muamalat Indonesia adalah bank umum pertama yang beroperasi secara syariah di Indonesia. Keberadaannya tampak masih eksis sampai sekarang, namun setelah di analisis menggunakan bankometer bahwasanya Bank Muamalat Indonesia diprediksi memiliki kesulitan keuangan dan berisiko tinggi terhadap kebangkrutan. Tujuan penelitian ini yaitu untuk mendeteksi financial distress pada Bank Muamalat Indonesia dan langkah-langkah yang dapat diambil untuk meminimalisisr distress yang berkelanjutan. Adapun metode yang dipakai yaitu menggunakan pendekatan bankometer dan fully-modified least squares (FMOLS) dengan program Eviews 10. Hasil penelitian menunjukkan dalam sepuluh tahun terakhir bahwa lima tahunnya berada dalam posisi distress dan variabel ukuran bank, FDR, ROA memiliki pengaruh jangka panjang secara simultan dengan financial ditress Bank Muamalat Indonesia. Oleh karena itu, penting bagi Bank Muamalat Indonesia agar meningkatkan efektivitasnya melalui penyaluran pembiayaan dengan menggunakan kriteria dan perhitungan matematis yang lebih ketat dengan tujuan pembiayaan yang diberikan tepat sasaran. Beberapa rekomendasi kebijakan yang dapat dipertimbangkan adalah meningkatkan manajemen risiko, memperkuat modal dan likuiditas, peningkatan efisiensi operasional, pemantauan portofolio pembiayaan, penyempurnaan kebijakan pembiayaan, dan memperkuat pengawasan dan tata kelola. Rekomendasi kebijakan ini bertujuan untuk membantu Bank Muamalat Indonesia mengatasi kesulitan keuangan yang dihadapinya dan meminimalisir risiko kebangkrutan. Dengan mengadopsi langkah-langkah ini, bank dapat memperbaiki kinerja keuangan, meningkatkan efisiensi operasional, dan memastikan keberlanjutan bisnis dalam jangka panjang.

Influential Celebrities In Sustainable Online Shopping: A Theory Of Reasoned Action Insights Pane, Mujahidun Hapisni; Rukiah, Rukiah; Siregar, Budi Gautama; Nasirin, Wanda Khairun; Hidayat, Randi Friscilla
At-tijaroh: Jurnal Ilmu Manajemen dan Bisnis Islam Vol 9, No 2 (2023): DESEMBER 2023
Publisher : Universitas Islam Negeri Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/tijaroh.v9i2.9930

ABSTRACTThe implementation of lockdown in 2020 as a response to COVID-19 has led to significant behavioral changes, pushing society to adapt to online transactions. This research aims to analyze the influencing factors such as e-trust, e-wom, e-servqual, and celebrity endorsers on online purchase decisions, as well as examine the moderating effect of celebrity endorsers on these decisions. The research methodology used is quantitative with stratified sampling techniques, employing the Structural Equation Model Partial Least Square (SEM-PLS) with WarpPLS 8.0 software. The results of the study indicate that e-trust and e-WOM have a positive and significant impact on online purchase decisions, while e-service quality does not have a significant influence. Another finding is that celebrity endorsers can moderate e-trust, strengthen consumer trust in online transactions, and impact purchase decisions. However, celebrity endorsers are not effective in moderating e-WOM and e-service quality in online purchase decisions. In this context, e-trust, e-WOM, and celebrity endorsers play crucial roles in influencing online purchase decisions, in line with the Theory of Reasoned Action. The practical implications of this research emphasize the importance of building consumer trust in online transactions and managing the use of celebrity endorsers wisely to enhance purchase decisions. E-commerce companies and online platforms need to provide high-quality services to strengthen consumer trust. Moreover, the role of e-WOM should also be considered to influence purchase decisions and improve online service quality according to consumer expectations. The policy recommendations resulting from this research highlight the need for companies to focus on managing consumer trust and utilizing celebrity endorsers wisely to enhance sustainable online shopping.

Long-Term And Short-Term Estimations On Indonesian Coal Exports Nasirin, Wanda Khairun; Rukiah, Rukiah; Gautama, Budi; Haruna, Khadija
At-tijaroh: Jurnal Ilmu Manajemen dan Bisnis Islam Vol 9, No 1 (2023): JUNI 2023
Publisher : Universitas Islam Negeri Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/tijaroh.v9i1.7718

The problem in this study is that Indonesia's trade balance experienced a deficit due to a shrinking surplus in the non-oil and gas sector from coal commodities. Thus, this study aims to estimate the long-term and short-term exports of Indonesian coal commodities within a gravity framework. This research method uses a panel vector error correction exogenity model (PVECMX) with Eviews 10. The long-term test results show that Indonesia's GDP affects Indonesia's coal exports in the long term. That is, an increase in Indonesia's GDP through equal distribution of people's income is the main factor in the large volume of exports of Indonesian coal commodities. The negative long-term effect of the destination country's GDP is related to the export volume of Indonesian coal commodities. The results of this study prove that there is a long-term negative effect between the population of the destination country on the volume of Indonesian coal exports. Distance in the short term has a negative effect on Indonesia's coal exports. This research suggests that the Government of Indonesia is expected not to ban coal exports anymore in the future and focus on renewable energy to be able to meet demand for coal exports by estimating policy transformation through integration between the government and coal entrepreneurs. This study recommends short-term solutions to increase production costs and optimally and more intensively utilize production factors. In the long term, it is now possible to increase the number of goods supplied.

How To Enhance Firm Value In The Jakarta Islamic Index (Jii) Through Profitability, Csr And Gcg Pasaribu, Nona Soraya; Rasyid, Arbanur; Rukiah, Rukiah; Muzamil, Sanupal; Nasirin, Wanda Khairun; Pane, Mujahidun Hapisni
At-tijaroh: Jurnal Ilmu Manajemen dan Bisnis Islam Vol 9, No 2 (2023): DESEMBER 2023
Publisher : Universitas Islam Negeri Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/tijaroh.v9i2.8187

The company's profitability will reflect the company's financial performance. Good financial performance can increase the value of the company, which will be reflected in the market price of its shares and increase the prosperity of shareholders (stakeholders). Profitability is also a factor that makes management free and flexible in disclosing corporate social responsibility to shareholders. Thus, the higher the level of company profitability, the greater the disclosure of information. So, this study intends to see how profitability affects firm value and whether corporate social responsibility and good corporate governance effectively moderate profitability's effect on manufacturing companies’ value in the Jakarta Islamic Index (JII). Therefore, this study is important and serves as material for investors and potential investors to consider and reference in selecting companies. Various theories support this study, as the grand theory is the agency theory and the signaling theory. The middle theory of this research is contract theory, and the applied theory is firm value theory. This theory is to measure the company's selling value or growth value for shareholders, the company's value, which will be reflected in the market price of its shares. This research was conducted using a quantitative method, which will be carried out in 2021 at a manufacturing company registered on the Jakarta Islamic Index (JII). The sampling technique used was purposive sampling, with twenty-four companies listed on the Jakarta Islamic Index (JII). Considering that the model in this study is a causality model for several manufacturing companies, to test the hypothesis, cross-sectional data is used with the structural equation modeling (SEM) approach using the partial least squares program (PLS 4.0). The results of the profitability direct effect test do not directly affect firm value; the direct effect test results of CSR moderation do not directly affect firm value; and so do the GCG direct effect test results, which do not affect firm value.

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