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All Journal Jurnal Ilmiah Ekonomi Islam JSE: Jurnal Sharia Economica
Widjiantoro, Surya Tegar
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Economics, Econometrics & Finance Social Sciences

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THE INFLUENCE OF DER, ROE ON DPR OF COMPANIES LISTED IN THE MES BUMN 17 INDEX Widjiantoro, Surya Tegar; Segati, Ahda; Muda, Iskandar; Soemitra, Andri; Yusrizal
JSE: Jurnal Sharia Economica Vol. 4 No. 4 (2025): Oktober
Publisher : LPPM STAI Muhammadiyah Probolinggo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46773/jse.v4i4.2641

Abstract

This study aims to analyze the effect of Debt- to-Equity Ratio (DER) and Return on Equity (ROE) on Dividend Payout Ratio (DPR) in companies listed in the MES BUMN 17 Index and also included in LQ45. The research employs a quantitative explanatory approach using panel data, with analysis conducted through EViews. The t-test results indicate that DER has a significant negative effect on DPR, while ROE is not significant. The F-test shows that DER and ROE simultaneously have a significant effect on DPR. The coefficient of determination (R²) of 0.260 reveals that most variations in DPR are influenced by other factors outside the model.
Pengaruh Harga Komoditas Pertambangan Dunia Terhadap Indeks Saham Syariah Indonesia Widjiantoro, Surya Tegar
Jurnal Ilmiah Ekonomi Islam Vol. 9 No. 3 (2023): JIEI : Vol.9, No.3, 2023
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v9i3.10550

Abstract

This research is using secondary data obtained from trusted global-scale sites. The data is collected from 2015 to 2023 and this research is using monthly time frame. This study uses multiple regression analysis method with 7 (seven) variables, 6 variables X and 1 variable Y. This study was conducted to determine the partial and simultaneous effect of Crude Oil, Silver, Coal, Cobalt, Steel, Nickel variables on ISSI. The results of this study indicate that the variables that have an effect on ISSI are Crude Oil, Silver and Steel variables and the variables that have no effect on ISSI are Coal. Cobalt, Nickel. This is evidenced by the results of the acquisition of each influential variable is Crude Oil (3.204 > 0.677), Silver (-1.146 < -0.677), Steel (2.211 > 0.677), and the variable that has no effect is Coal (0.291 < 0.677), Cobalt (0.259 < 0.677), Nickel (-0.558 > -0.677).
EVALUASI SYARIAH DAN PENGEMBANGAN MODEL CRYPTOCURRENCY STABLECOIN: PENDEKATAN BERBASIS FIAT VS. BERBASIS EMAS Widjiantoro, Surya Tegar; Segati, Ahda; Marpaung, Muslim
JSE: Jurnal Sharia Economica Vol. 5 No. 1 (2026): Januari
Publisher : LPPM STAI Muhammadiyah Probolinggo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46773/jse.v5i1.3006

Abstract

This study discusses the comparison between fiat-based stablecoins and gold-based stablecoins from the perspective of Islamic economics, particularly in the context of the high price volatility of cryptocurrencies. The background of this research is the need for stable digital financial instruments that comply with sharia principles, considering that stablecoins have emerged as a solution to cryptocurrency value fluctuations but raise questions regarding their compatibility with Islamic law. The research method used is a literature review by analyzing various stablecoin models and examining literature related to sharia principles in finance, such as the prohibition of riba (usury), gharar (uncertainty), maysir (gambling), and the importance of underlying assets. The results show that gold-based stablecoins are more aligned with the concept of money in Islamic economics because they are backed by clear physical assets, whereas fiat-based stablecoins contain elements of riba due to seigniorage and the lack of clarity in intrinsic value. The conclusion of this study asserts that, from an Islamic economic perspective, gold-based stablecoins are more appropriate to be developed as sharia-compliant digital transaction instruments, while fiat-based stablecoins still have several aspects that need further review regarding sharia compliance.
Co-Authors Andri Soemitra Iskandar Muda Muslim Marpaung SEGATI, AHDA Yusrizal