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Al-Kharaj: Journal of Islamic Economic and Business

alkharaj
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Published by Institut Agama Islam Negeri Palopo

ISSN : 2686262X EISSN : 26859300 DOI : 10.24256/kharaj.v4i2

Core Subject : Economy,

Economics, Econometrics & Finance

Al-Kharaj, Journal of Islamic Economic and Business is peer-reviewed journal published by program studi ekonomi syariah , Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Islamic Economic and Business. The aims of this journal is to explore and develop economic related to Islamic and Business. This Journal welcomes contributions from researchers in related diciplines.

Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)

Articles 12 Documents

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Search results for , issue "Vol 5, No 1 (2023)" : 12 Documents clear

Comparison of CAPM Results With The Beta Reward Approach In The Trade, Services, and Investment Sector At The Kompas100 Index In Indonesia Handri Handri
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

This study aims to compare the estimated yield between the CAPM model and the Beta Reward approach in calculating. Beta shares in Trade companies, Services, and Investments that are incorporated in the Kompas100 index in Indonesia. The Data used is the closing price of the company's shares during the study period from January 2010 to December 2019. In this study, there are 4 four companies that are consistent. The results showed that the Beta Reward method has R-squared, RMSE, and MAE is better at predicting company stock returns compared to the CAPM method. These findings indicate a systematic relationship between Beta reward with stock return in Indonesia.

Company Performance and Corporate Social Responsibility Zarkasi Zarkasi; Sufyati HS; Darmawati Manda; Deddy Novie Citra Arta
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

This study seeks empirical evidence on the impact of independent variables, namely corporate social responsibility and state, as moderating variables on firm performance. The purposive sampling technique was used to analyze a sample of 7 companies in the construction sub-sector listed on the Indonesia Stock Exchange between 2019 and 2022. Panel data regression and descriptive statistics were employed in this study. The study's findings show that corporate social responsibility has a positive but non-significant effect on firm performance, and that the state does not moderate the effect of corporate social responsibility on firm performance.

Product Market Competition Dalam Menilai Corporate Risk Taking Dan Efisiensi Investasi Yuni Maryana; Andi Irfan*; Tasriani Tasriani
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

Corporate decisions are the parent of a company's survival. Corporate decisions are divided into two, namely corporate risk taking and efficiency investment. This study aims to analyze the effect of product market competition on corporate decisions, especially on corporate risk taking and investment efficiency. The main measure of product market competition is based on the level of the Herfindahl Hirschman Index (HHI). In this study the authors used MANOVA analysis to examine the relationship between product market competition (as an independent variable) on corporate risk taking and overinvestment (as the dependent variable) in multivariate and univariate ways. By using observations of manufacturing companies listed on the IDX in 2015-2020, a sample of 71 companies was obtained using a purposive sampling method. Based on the results of the multivariate test analysis that has been carried out in this study, it was found that product market competition has a significant effect on corporate risk taking and overinvestment, while based on the univariate significant test (test of between subjects-effect) product market competition has a significant effect on corporate risk taking while product market competition on overinvestment does not show a significant effect. So it can be concluded that competition acts as a mechanism for disciplining corporate decisions.

The Role of Financial Institutions In Financial Inclusion in the Krupuk Industry SMEs The Karangmluwo Mangli Kaliwates Community, Jember Siti Masrohatin; Hikmatul Hasanah; Indra Kusumawati; Tri Kurniawati Retnaningsih
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

The objective of the financial inclusion program is to eliminate all forms of barriers to public access to the use of financial services supported by existing infrastructure. Thus the SMEs community will easily overcome the problem of lack of capital by getting easy financing services from banks, in this study conducted on the SMEs community in the Karangmluwo cracker industry. However, can the SMEs community of the Karangmluwo cracker industry as a whole be able to feel the benefits of the financial inclusion program? Until this research formulated the formulation of the problem: What is the role of financial institutions in financial inclusion in the Karangmluwo cracker industry SMEs?, what are the arguments of the Karangmluwo cracker industry community who are reluctant to collaborate with financial institutions? crackers Karangmluwo?. This study uses a descriptive qualitative approachand the results of research on several SMEs in the cracker industry of the Karangmluwo community, Mangli Kaliwates Jember, show that the benefits of the financial inclusion program are still not evenly distributed, it is proven that there are still Karangmluwo cracker industry communities who are reluctant to collaborate with financial institutions because of the complicated requirements and lack of socialization from the financial institutions. However, there are also some industrial communities in Karangmluwo who can benefit from this financial inclusion

Financial Performance, Capital Structure, and Company Value Comparison Clara Neltje Meini Rotinsulu
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

The goal of this study is to compare the financial performance, capital structure, and firm values of family versus non-family firms listed on the Indonesia Stock Exchange between 2020 and 2022. In this study, purposeful sampling was used, and data was analyzed using a pairwise sample methodology, comparing family and non-family firms. There is no difference in finance performance as measured by sales growth, sales, return on assets (ROA), return on equity (ROE), gross profit margin (GPM), and net profit margin (NPM), according to the findings of this study, but there are significant differences in total asset turnover (TATO). According to the capital structure, there is no difference in firm value as proxied by earnings per EPS share between family and non-family firms.

Influence Wakif's Understanding and Income of Interest in Waqf in PW. Salimah Riau Province Haniah Lubis; Nur Hasanah; Madona Khairunisa
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

Waqf potential in Indonesia reaches Rp. 180 trillion per year. A very large number, but this potential has not been able to be optimized properly.Some of the challenges that cause this condition include the not yet optimal regulation of waqf, low literacy of waqf, weak capacitynazir waqf, and the use of technology has not been maximized.The aims of this study were: 1) to determine the partial effect of waqif understanding and income on interest in waqf in PW. Salimah Riau Province, 2) determine the simultaneous effect of understanding and waqf income on interest in waqf in PW. Salimah Riau Province, and 3) determine a strategy to increase waqif funding in PW. Salimah, Riau province. The research method is a quantitative method, with technical analysis of hypothesis testing data using the SPSS 26 application. A sample of 30 people, namely PW daily administrators. Salimah, Riau Province. The results obtained partially can be obtained from the results of the t test. The t value is obtainedcountof 1.642 < from ttable2.052, which means that the understanding variable does not have a significant effect on the interest in waqf variable. Meanwhile, income variable (X2) with t valuecount of 6.275 > ttable 2.052, with a significance value of 0.001 <0.05, which means that the income variable has a significant effect on the interest in waqf variable. Simultaneously or jointly the independent variables affect the dependent variable. It can be seen from the results of the F test. The calculated F value is 37.518 > 3.34 with a significance of 0.001 <0.05. It can be concluded that the understanding variable and the income variable together have a significant effect on the interest in waqf by wakif in PW. Strategy in increasing Waqf Collection in PW. Salimah Riau Province including: a) Waqf socialization to administrators, b) Waqf socialization to the community, c) Compulsory Waqf for Management (GARDU), d) Inviting the Community to donate GARDU waqf, e) Movement of 1,000,000, - one million Waqif, and f) A minimum waqf movement of Rp. 2,000, - with a target of one million waqf is one of the newest and flagship programs issued by LWS in an effort to increase waqf funds in an effort to make it easier for people to make waqf.

The Influence of Trust, Religiosity, Income, Promotion, and Quality of Service on the Interests of the Moslem Community in Zakat Through BAZNAS East Kalimantan Tikawati Tikawati
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

This study aims to determine the effect of the variables of trust, religiosity, income, promotion, and quality of service on interest in tithing at the East Kalimantan National Zakat Agency. Quantitative method with SmartPLS is used to test the hypothesis. The research questionnaire was distributed to 100 respondents in the East Kalimantan region. The results of this study indicate that the variables of trust, service quality, income and religiosity have a significant effect on muzakki's interest in paying zakat at BAZNAS East Kalimantan. Meanwhile, the promotion factor has no significant effect on the interest of the muzakki in zakat at BAZNAS East Kalimantan. These findings are useful for zakat managers, especially BAZNAS East Kalimantan, to focus development on factors that have a significant effect on interest in paying zakat at BAZNAS East Kalimantan.

Influence of Brand Image, Product Design, and Celebrity Endorsement Zarkasi Zarkasi; Rian Ardianto; Ferdinandus Sampe; Anis Okta Cahyaningrum
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

This study aims to determine the effect of brand image, product design, and celebrity endorsement on the repurchase intention of consumers of soccer shoes. The object of this research is the consumer of soccer shoes in Pangandaran Regency. The sampling method of this study was an accidental sampling technique with 97 respondents. The data analysis technique was the multiple linear regression analysis with the SPSS program. The results showed that brand image has no significant effect on repurchase intention. Meanwhile, product design and celebrity endorsements have a positive effect on repurchase intention.

The Behavior of Rice and Egg Traders in Manarap Market, Kertak Hanyar District, Banjar District Perspective of Islamic Business Ethics Ilham Fajar; Faqih El Wafa El Wafa
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

This research is motivated by the experience of the community who considers that the behavior of rice and egg traders in the Manarap market is contrary to sharia business ethics. The purpose of this study was to determine the business ethics behavior of rice and egg traders in the Manarap market in terms of Islamic business ethics. This research is a field research with a qualitative approach, the number of traders studied is 10 people. Data collection used observation techniques and direct interviews with informants, namely rice and egg traders. The collected data were analyzed based on Islamic business ethics theory. Through a Qualitative Approach, the following findings are obtained: first, the business of rice and egg traders in Manarap Market has implemented Islamic business ethical behavior, which can be seen from several attitudes: honesty, trustworthiness, fairness, sincerity, diligence and hard work, not badmouthing other traders, all rice and egg traders in Manarap Market but in the attitude of working harder there are 2 people who work harder than other traders because they also sell elsewhere. Second, traders who apply Islamic business ethics as a whole, out of 10 informants, only 2 or 20%.

Stock Price, Return, and Abnormal Return Differences Before and After Stock Split In High and Low Profile Companies Listed On The Indonesian Stock Exchange Abdul Manap; Riah Ukur Br Ginting; Zurlina Lubis; Nurhaifa Idris; Mustangin Mustangin
Al-Kharaj: Journal of Islamic Economic and Business Vol 5, No 1 (2023)
Publisher : IAIN Palopo

The purpose of this study is to see if there are differences in stock prices, stock returns, and abnormal returns before and after a stock split in high-profile and low-profile companies. This study's research period was 2020-2022. The research was analyzed quantitatively using a purposive sampling method. Based on the sampling criteria, 39 companies were selected as research samples. Kolmogorov Smirnov The normality test was performed using a single sample test. Following the normality test, the data was processed using the two-paired-sample difference test. If the data were normally distributed, the t-test (paired sample t-test) was used; otherwise, the Wilcoxon Signed Rank test was used. The results of hypothesis testing revealed that (1) there are differences in stock prices before and after a stock split in high-profile companies. (2) In low-profile companies, stock prices differ before and after the stock split. (3) There are differences in stock returns in high-profile companies before and after a stock split. (4) There is no difference in stock returns for low-profile companies before and after the stock split. (5) There is no difference in abnormal returns in high-profile companies before and after the stock split. (6) There is no difference in abnormal returns in low-profile companies before and after the stock split. (7) There are differences in stock prices following a stock split between high-profile and low-profile companies. (8) There is no difference in stock returns in high and low-profile companies before and after the stock split. (9) There is no difference in abnormal stock returns before and after a stock split at high and low-profile companies.

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Contact Name
Mujahidin

Contact Email
mujahidin@iainpalopo.ac.id

Phone
+6281243481878

Journal Mail Official
al-kharaj@iainpalopo.ac.id

Editorial Address
Jl. Bitti, Blandai Kota Palopo

Location
Kota palopo,

Sulawesi selatan

INDONESIA

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Mujahidin

Contact Email mujahidin@iainpalopo.ac.id

Phone +6281243481878

Journal Mail Official al-kharaj@iainpalopo.ac.id

Editorial Address Jl. Bitti, Blandai Kota Palopo

Location Kota palopo, Sulawesi selatan INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

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Abstract

Contact Name
Mujahidin

Contact Email
mujahidin@iainpalopo.ac.id

Phone
+6281243481878

Journal Mail Official
al-kharaj@iainpalopo.ac.id

Editorial Address
Jl. Bitti, Blandai Kota Palopo

Location
Kota palopo,

Sulawesi selatan

INDONESIA