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Jurnal Ekonomi & Keuangan Islam
ISSN : 2088996     EISSN : 26146908     DOI : -
Core Subject : Economy,
AIMS Jurnal Ekonomi dan Keuangan Islam (JEKI) covers in detail a large number of topics related to Islamic Economics and Islamic Finance, comprising the latest empirical studies, country-specific studies, policy evaluations on Islamic economics and comparative international Islamic finance. This journal provides a forum for scientific exchange for academicians, practitioners, keen observers, and independent researchers, by publishing high-quality theoretical, empirical, and policy contributions. SCOPE Jurnal Ekonomi dan Keuangan Islam (JEKI) promotes the exchange of ideas and information among researchers around the world and strives to keep the economists updated on the latest research related to Islamic economics and Islamic finance. Scientists with an interest in Islamic economics and Islamic finance may rely on this journal as one of their essential sources.
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Articles 6 Documents
Search results for , issue "Volume 3 No. 1, Januari 2017" : 6 Documents clear
Dampak penerbitan sukuk dan obligasi konvensional terhadap return saham perusahaan di Indonesia Nur Indah Hardianti; Agus Widarjono
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art6

Abstract

Capital markets are an integral part of economic activity in many countries. One type of capital market is bonds. In Indonesia has developed two types of bonds are syariah-based bonds called sukuk and bonds are not based on sharia. The purpose of this study is to analyze the impact of issuance of sukuk and conventional bonds on stock returns. The company under study is a company that issues both sukuk and syariah bonds. This study uses event study to see the reaction of capital market to the event of issuance of sukuk and conventional bonds. The results showed that the abnormal return of stock is only influenced by variable of maturity value of sukuk and conventional bond. Thus, the stock market is not very responsive to the issuance of sukuk or conventional bonds.
Reaksi Pasar terhadap Penerbitan Bond dan Sukuk Fahmi Nashirul Haq Ash Shidiqi
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art1

Abstract

As a financial instrument in the company, bond and sukuk are still in great demand for investors. Each company's decision will affect how investors react to the company's performance. The six companies sampled in this research are PT Adira Dinamika Multi, PT Indosat, PT Adhi Karya, PT Sumarrecon Agung, PT Mayora, and PT TPS Food. The analytical method used is to compare the differences with conducting independent t-test for two observations of bond and sukuk issuance.The average of sample t-tets result on bond and sukuk found that no significant mean difference, it shows the position of the bond and sukuk equally give influence to share price of a company. In the statistic t test results of the six companies, the sukuk and bonds respond quickly to the information, but unlike the results grouped between the companies with the highest and lowest rating. At the best ratings bonds and sukuk responded well, even the level of significance is very high, the speed of information received is better than the bonds and sukuk the lowest.
Market performance of sharia-compliant companies in Indonesia: relevance of earnings-management, leverage, and corporate Yunice Karina Tumewang
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art3

Abstract

This study aims to explore the factors that influence the Islamic bank profitability. The profitability rate or Return on Asset (ROA) is utilized as dependent variable whereas internal financial factor (financial ratio indicator) and external factor (economic indicator) are adopted as independent variable. This study focus on social funds such as qard and ZIS contract. This study applies qualitative description with using time series data from March 2010 to September 2014. Moreover, Panel regression model is employed, MWD test and classical assumption test. This analysis finds that, firstly, financial ration and CAR has positive and not significant relationship although equity based financing has significant and positive relationship then in economic indicator results GDP growth and inflation has positively not significant. Furthermore, social funds indicator such in qard contract has positive and significant relationship to ROA or profitability rate. However, the second regression result that utilizes ZIS variable finds that all variables do not have significant relationship excluding GDP growth.
Efisiensi perbankan Islam di Asia Tenggara Faaza Fakhrunnas
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art4

Abstract

The development of Islamic banks in Southeast Asia increases quickly. To measure the Islamic banking performance, Islamic banking efficiency can be adopted as a benchmark. This study aims to measure the efficiency of Islamic banks in Southeast Asia. By applying Stochastic Frontier Analysis, this study utilizes input variable comprising total deposit and operating cost, then output variable consisting to total financing and earning asset whereas all variables mentioned-above are put as independent variable. Moreover, total cost is posited as dependent variable. By observing 28 Islamic banks in Southeast Asia during 2009-2012, this research finds that the level of efficiency Islamic Bank in Malaysia is 94,04%, Brunei Darussalam is 88,59%, and Indonesia is 88,35%. By performing independent t-test, it shows that there has different efficiency between Islamic Bank in Indonesia and Malaysia, and also between Indonesia and Southeast Asia.
Faktor-faktor yang mempengaruhi deposito mudharabah pada bank syariah di Indonesia Nila Juniarty; Mustika Noor Mifrahi; Achmad Tohirin
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art5

Abstract

Mudharabah Deposit is one of Islamic banking products, which is the biggest contributor to sharia banking compared to other collecting products. In addition, according to Bank Indonesia's report, the number of Islamic banking deposits each year has increased significantly. Therefore, in this study, the authors want to know the factors that are expected to affect the number of mudharabah deposits. There are 6 factors that are expected to affect the number of deposits, namely the profit-sharing rate, the interest rate, the promotion rate, the inflation rate, the FDR, and the number of offices. The authors use a weighted average in terms of rate of profit sharing and interest rate and data processing using multiple linear regression. The results of these regression calculations, simultaneously show positive and significant results for all variables. This value resulted from the four regression has a value of sig-F 0.000 is smaller than 10% significance. Partially, profit sharing, promotion cost and number of offices show significant and positive effect on total mudharabah deposit, while interest rate, inflation and FDR show no effect on mudharabah deposit amount.
Analisis perbandingan kinerja saham syariah antara DJIMI, FSTE GIIS, KLSESI, dan JII Novita Kusuma Maharani
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 1, Januari 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss1.art2

Abstract

This research investigates whether the difference of Sharia stock screening mechanism in some countries will influence the index and stock performance. Some countries have a tight screening policy and the other countries have a loose screening policy. This research investigates 4 Sharia indices DJIMI, FTSE GIIS, KLSESI, and JII since October 2012 until September 2014. This research shows that the performance of the Sharia stock index is not affected by how tight the screening process of that index. Although KLSESI index has the tightest stock screening policy, but the performance is not different with the Sharia stock which has loosest stock screening policy which is DJMI index. When we compare the return of each index, the performance of the 4 indices shows insignificant different. The performance of JII stock which has the looser stock screening policy is also not different with the KLSESI stock performance which has the tighter stock screening policy.

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