Asykarulloh, Azam
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Covid-19 dan The Stock Reaction Of Islamic Banking In Asia Asykarulloh, Azam; Sultoni, Hasan
Musyarakah: Journal of Sharia Economic (MJSE) Vol 4, No 2 (2024): October
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/mjse.v4i2.9373

Abstract

The number of COVID-19 cases that hit Asia also put pressure on the economy and turmoil in several stock markets. This study aims to see the reaction of Islamic banking stocks in Asia to the announcement of COVID-19 as a global pandemic by WHO. This research uses an event study method with an observation period of 10 days after and before the event day. Data were obtained through the stock trading website, and 43 banking samples from 11 countries were observed. Data analysis used One-Sample T-Test, Paired Sample T-Test, One Sample Wilcoxon Signed Rank Test, and Paired Sample Wilcoxon Signed Rank Test with the help of SPSS 21.0 tools. The results showed that there was a significant AAR around the event days. And there is a difference in CAAR before and after the event day. These results were accompanied by a negative CAAR value after the event period, which confirmed that Islamic banking stocks in Asia responded negatively to the announcement of COVID-19 by WHO. The robustness test results show that ASEAN is the most reacted region compared to the GCC, South Asia, and other areas.
Bibliometric Analysis: The Role of ESG in Green Finance Asykarulloh, Azam; Muh Syaiful Bakhri; Muhammad Isbad Addainuri; Askal Samiudin
Jurnal Magister Ekonomi Syariah Vol. 4 No. 2 Desember (2025): J-MES: Jurnal Magister Ekonomi Syariah
Publisher : Program Studi Magister Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/jmes.2025.042-06

Abstract

This study aims to conduct a comprehensive bibliometric analysis of the development of the Environmental, Social, and Governance (ESG) and green finance literature. Research data was obtained from 519 scientific articles indexed in the Scopus database in the period 2020–2025. The analysis was carried out using a bibliometric approach through Bibliometrix and Biblioshiny software to map the performance of publications, topic evolution, conceptual structure, and research collaboration patterns globally. The results show that ESG and green finance related publications are experiencing exponential growth, which indicates that this field is a rapidly growing emerging research front. The thematic evolution analysis indicates a shift in research focus from normative issues and regulatory frameworks to more implementive and performance-based studies, especially related to ESG performance and green finance instruments. Thematic mapping places green finance, sustainable development, and ESG performance as the underlying themes that underpin the literature, while general concepts such as ESG and sustainable finance show a tendency towards specialization or conceptual saturation. Analysis of global collaborations shows a strong geographical concentration of research, with China emerging as the dominant actor in international research networks. This research contributes by uncovering the phenomenon of publication inflation and the citation age effect, identifying potential geographical bias in the ESG and green finance literature, and proposing a policy-market integration perspective as a conceptual framework to bridge the fragmentation between regulation-based approaches and financial markets. These findings provide important implications for the development of research agendas, evidence-based policy formulation, and sustainable investment strategies.