Najwa Febriani
Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung

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Blue Economy Financing Melalui Instrumen Moneter Islam Muchammad Tanzila Akhtsani Takwim; Najwa Nada Zahrani; Alvi Dwi Purwindari; Najwa Febriani; Amalia Nuril Hidayati
JIBEMA: Jurnal Ilmu Bisnis, Ekonomi, Manajemen, dan Akuntansi Vol. 3 No. 4 (2026): April
Publisher : CV. Muris Global Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62421/jibema.v3i4.227

Abstract

Penelitian ini bertujuan menganalisis pemanfaatan instrumen keuangan dan moneter Islam dalam pembiayaan Blue Economy yang berkelanjutan. Kajian ini mengintegrasikan nilai-nilai Maqashid Syariah dengan prinsip Sustainable Development Goals (SDGs) untuk mewujudkan sistem ekonomi yang seimbang antara pertumbuhan, keadilan sosial, dan kelestarian lingkungan. Metode penelitian mengadopsi pendekatan kualitatif dengan menelaah berbagai sumber pustaka dengan sumber berupa literatur akademik, jurnal, laporan lembaga keuangan syariah, dan regulasi pemerintah. Data dianalisis secara deskriptif-analitis dan normatif berdasarkan prinsip Maqashid Syariah dan Fiqh Bi’ah. Hasil penelitian menunjukkan bahwa instrumen moneter Islam seperti Blue Sukuk dan Profit and Loss Sharing (PLS) mampu menjadi alternatif pembiayaan inovatif bagi sektor maritim dan kelautan. Integrasi ZISWAF dalam skema blended finance juga memperkuat pembiayaan inklusif bagi masyarakat pesisir. Penelitian ini menyimpulkan bahwa pembiayaan Blue Economy melalui instrumen keuangan dan moneter Islam berpotensi mendukung pembangunan berkelanjutan berbasis syariah. Rekomendasi penelitian meliputi penguatan regulasi, inovasi produk keuangan syariah, serta kolaborasi antara pemerintah, lembaga keuangan, dan masyarakat.
Islamic Social Reporting as Governance Innovation and Mining Stock Prices on the Jakarta Islamic Index Najwa Febriani; Ahmad Syaichoni
International Journal of Economics and Development Vol. 2 No. 2 (2026): December 2026
Publisher : Ponpes As-Salafiyyah Asy-Syafi'iyyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.71305/ijed.v2i2.1989

Abstract

Islamic Social Reporting (ISR) has emerged as an important governance mechanism for enhancing transparency, ethical accountability, and stakeholder trust in Islamic capital markets. Nevertheless, the extent to which ISR disclosure is recognized by investors and reflected in stock prices remains inconclusive. This study aims to examine the effect of ISR disclosure on the stock prices of mining companies listed on the Jakarta Islamic Index (JII), while also analyzing the influence of inflation, interest rates, and exchange rates. A quantitative associative research design was employed using panel data from ten mining companies listed on the JII during 2021–2024, generating 40 firm-year observations. ISR was measured using an Islamic disclosure index, while macroeconomic and stock price data were obtained from secondary sources. Panel regression analysis was conducted using EViews 12, with the appropriate model determined through Chow, Hausman, and Lagrange Multiplier tests. The findings demonstrate that inflation has a positive and significant effect on stock prices (t = 2.36; p = 0.0263). In contrast, interest rates (p = 0.6345), exchange rates (p = 0.7252), and ISR disclosure (t = 0.86; p = 0.3957) do not have significant individual effects. Although the average ISR disclosure reaches 75.47%, it does not function as a statistically significant pricing signal. However, the variables jointly explain 95.86% of stock price variation. These findings indicate a gap between governance innovation and pricing innovation, suggesting that ISR has primarily developed as a compliance and accountability mechanism rather than as an effective market valuation signal.