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Reza Mubarak
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INDONESIA
Shafin: Sharia Finance and Accounting Journal
Published by Institut Agama Islam Negeri Madura
ISSN : 27975320     EISSN : 27973484     DOI : https://doi.org/10.19105/shafin
Core Subject : Economy,
Economics, Econometrics & Finance
The articles of Journal Shafin publishes mainly focuses on the major problems in the development of sharia finance and accounting areas, such as sharia accounting intitution, Small Micro Entities (SMEs) sharia accounting, capital market Islamic, auditing and corporate governance for Islamic intitution, Islamic behavior accounting, Islamic accounting profession ethics.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 63 Documents
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Strategy of Derivatives Hedging: Maintaining and Increasing Firm Value amidst Market Volatility in Indonesia: English Purnomo, Heri; Sugeng, Bambang; Handayati, Puji
Shafin: Sharia Finance and Accounting Journal Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v4i2.15502

Abstract

This study examines the relationship of derivative hedging and firm value. With 1520 observations from 380 Indonesian non-financial firms. The research method used is quantitative explanatory with regression analysis panel data. We involved eight control variables to adjust the influence of external factors. We found that the application of derivative hedging strategies contributes to an increase in the firm value through risk reduction. We also found that commodity derivatives and currency derivatives play a more active role as risk tools than interest rate derivatives. In the context of economic uncertainty and high market fluctuations, firms are exposed to various financial risks, including currency and commodity risks. By implementing an effective hedging strategy, the firm can reduce cash flow volatility and increase financial stability. In addition, reducing uncertainty through risk management can improve investor perception and lower the cost of capital. This result is in line with the principle of Modigliani & Miller (1958) that the firm value is determined by the resulting cash flow. Thus, the practice of risk management is not only relevant but can also reinforce the propositions of Modigliani & Miller (1958) in a more realistic and specific context. The findings underscore the importance of proactive risk management in the face of dynamic market challenges. In addition, this study provides new insights into hedging practices in developing countries. With a better understanding of the impact of using derivatives, firms can manage risk more efficiently and increase their attractiveness in the eyes of investors. So that firm managers can plan the use of derivative instruments as an effective hedging strategy.
Accounting Analysis of Cost and Benefit of Celebrity Endorsements in Micro, Small and Medium Enterprises Priyadi, Ira Hasti; Halida, Uly Mabruroh; Jannah, Safiratul; Rohmaniyah, Alfiatur
Shafin: Sharia Finance and Accounting Journal Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v4i2.15622

Abstract

Indonesian. Abstract describes the purpose of research writing, methodology, and shows the In the era of digitalization, social media has become an integral part of human life, not only as a communication tool but also as a branding and marketing platform. This phenomenon creates opportunities for businesses to use celebrities, well-known individuals on social media, as product promotion agents. However, this strategy is not without significant costs. This research aims to conduct a cost-benefit analysis (CBA) on product promotion through celebrity endorsements in Indonesia, with a focus on MSMEs in Pamekasan. Mixed research methods are used to combine quantitative and qualitative approaches. Data was obtained through interviews with MSME actors and program celebrities, documentation and literature studies. Quantitative data includes endorsement rates for well-known celebrities, while qualitative data involves evaluating the benefits received by MSMEs. It is known that celebgrams charge varying rates, with some of the most expensive celebgrams reaching IDR 50,000,000. A cost-benefit analysis was conducted to assess the efficiency of investment in this promotion. It can be seen that several MSMEs achieved the highest Cost-Benefit Ratio (CBR), indicating high efficiency in generating benefits.
Determining Factors in Implementing Accounting Conservatism: A Study of Technology and Health Companies in Indonesia Nurcahyadi, Khafid; Yuliati
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.15879

Abstract

Recently, various kinds of corporate fraud scandals have become increasingly common. Financial reports, which should be prepared to be a communication tool for management to stakeholders, have instead become a tool for management to gain intensity with undue recognition for personal interests. This can make stakeholders make mistakes in making decisions and projecting the future. It is necessary to have more conservative principles to be able to minimize management's opportunistic behavior and also maintain business continuity. The method used in this research is a descriptive method with quantitative data types. The population in this study is 81 companies in the technology and health sectors listed on the Indonesia Stock Exchange in 2021-2023, with a sample size of 39 representative companies. The data collection technique used was observation using a panel data regression test. Earning pressure, debt covenant, and investment opportunity set simultaneously have a significant effect on accounting conservatism. Earning pressure has a significant positive effect on accounting conservatism. Debt covenants have a significant positive effect on accounting conservatism. Investment opportunity set has a significant negative effect on accounting conservatism. This research aim to help investors and stakeholders in assessing company financial reports as a decision-making tool. It is also hoped that this study can help companies understand the application of accounting conservatism principles to companies.
Implementation of Green Accounting in Business Sustainability Putri, Audyta Prasetyani; Yance, Evy; Hwihanus; Sultoni, Mohammad Hamim; Ahmed, Ishfaq
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.15426

Abstract

The purpose of this study is to ascertain how green accounting implementation affects the sustainability of businesses. The findings of earlier studies will be examined in order to examine this influence. The meta-analysis method is employed in this study. A meta analysis examines several research findings on related issues. Written research on the application of green accounting in business sustainability, in the form of journal articles selected for their alignment with the research theme, serves as the unit of analysis for this study. With the use of a documentation guide, the researcher is the primary tool in this study. Both quantitative data analysis using percentages and qualitative data analysis using narrative study data from the research findings were employed in the data analysis process. Sample errors were determined by calculating the findings of the meta-analysis. The variance of the population correlation is 0.569, while the sampling error variance is 0.023. A relatively modest percentage of variance, or 4%, is created by sampling error when the variance value of the sample error is compared to the population correlation variance value multiplied by 100%. This percentage shows that sampling error-related error bias is minimal.
Pengaruh Board Gender Diversity dan Kepemilikan Institusional terhadap Penghindaran Pajak dengan Corporate Social Responsibility sebagai Variabel Mediasi Shinta, Septiana Has; Putra, Rosyid Nur Anggara
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.15923

Abstract

Tax avoidance leads to a decrease in tax revenue, which in turn reduces state revenue. As a result, government programs, including infrastructure development, are not running optimally. This study aims to re examine the factors that influence tax avoidance behavior and analyze the effect of the presence of women on the board of directors, the presence of women on the board of commissioners, and institutional ownership on tax avoidance with corporate social responsibility as a mediating variable. This research was carried out on manufacturing companies in the consumer goods industry listed on the Indonesia Stock Exchange. with a range of years of 2018 - 2023. This sort of quantitative study employs secondary data in the form of annual reports and firm sustainability reports. Purposive sampling selects companies based on specified criteria so that obtained a sample of 162 sample data processed using Eviews 12. The analysis method used is panel data regression of the selected sample. The results of model I data analysis demonstrate that the inclusion of women on the board of commissioners has a detrimental impact on corporate social responsibility. The participation of women on the board of directors and institutional ownership have little effect on corporate social responsibility. Model II data analysis reveals that the presence of women on the board of directors, the presence of women on the board of commissioners, and institutional ownership have no effect on tax evasion. Meanwhile, corporate social responsibility as a mediating variable has a negative effect on tax avoidance Meanwhile, corporate social responsibility does not play a substantial role in moderating the indirect relationship between the presence of women on the board of directors, women on the board of commissioners, and institutional ownership
Aktualisasi Wakalah dalam Pembiayaan Murabahah di PT. Bank Aceh Syariah: Studi Komparasi Penerapan PSAK Nomor 102 Muslina; Muhammad Adnan; Ridwan Nurdin
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.17234

Abstract

Actualization of Murabahah Financing at PT. Bank Aceh Syariah mostly implements murabahah transactions without orders. This model is classified by the bank into three models, namely murabahah application with additional wakalah contract, murabahah transaction plus wakalah and urbun and murabahah plus down payment without wakalah contract. In its operations, banking entities predominantly apply the first model for reasons of efficiency. This transaction requires recognition of the wakalah contract in the acquisition of the murabahah object. However, the bank did not present the agreement in its records so that the application of this model is not in accordance with the provisions of PSAK 102. This is the main focus for elaborating the provisions of PSAK related to the Murabahah Financing model and comparing the implementation at the Institution. The solution method used is descriptive qualitative with a case study approach to describe the phenomenon comprehensively. Based on the results of the analysis of observation data, interviews and documentation, it was concluded that PT. Bank Aceh Syariah has not followed PSAK in its entirety, especially the recognition of wakalah contracts, plus the lack of supervision in the procurement process of goods by customers, so that there are several cases of customers not buying what is listed in the murabahah contract.
The Effect of Key Financial Indicators on Bank Profitability Mulyani, Rita; Oktaviani, Retno Fuji; Fauziyah, Nurul Khansa
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.18132

Abstract

Banking companies experienced fluctuations in average profitability during the 2019-2023 period. This study aims to analyze the effects of Capital Adequacy Ratio (CAR), Non-Performing Loan (NPL), Loan to Deposit Ratio (LDR) and Firm Size on profitability. The research employs a quantitative method using secondary data collected from the Indonesia Stock Exchange and Bank Indonesia websites. The population of the study includes banking sub-sector companies listed on the Indonesia Stock Exchange from 2019 to 2023. The sample was selected using a purposive sampling technique, resulting in 20 companies as the sample. Hypothesis testing was conducted using multiple linear regression analysis with the assistance of the Statistical Package for the Social Sciences (SPSS) software. The findings reveal that the Capital Adequacy Ratio (CAR) and Firm Size (FS) have no effect on profitability, while Non-Performing Loan (NPL) and Loan to Deposit Ratio (LDR) significantly influence profitability.
Pengaruh Transfer Pricing, Firm Size, Leverage, Sales Growth Terhadap Tax Avoidance dengan Profitability sebagai Variabel Moderating Pada Perusahaan Manufaktur dan Dagang Yang Terdaftar Di JII 70 Tahun 2019-2023 Nur Isnaini; Arismaya, Anisa Dewi
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.18202

Abstract

This research is motivated by the phenomenon of tax avoidance carried out by PT Bentoel Internasional Investama in 2019 which is engaged in manufacturing. This research is a quantitative study that aims to determine the effect of transfer pricing, company size, leverage, sales growth on tax avoidance with profitability as a moderating variable in manufacturing and trading companies listed on the JII 70 years 2019-2023. with the type and source of secondary data obtained from the company's financial statements through the official website of the Indonesia Stock Exchange or the company's official website. The data analysis technique used is panel data regression analysis and MRA which is processed using E-Views 12. The results of this study indicate that transfer pricing, firm size, leverage, sales growth do not significantly affect tax avoidance. Transfer pricing, firm size, leverage, sales growth on tax avoidance cannot be moderated by profitability.
Pengaruh Green Accounting, Kinerja Lingkungan, Biaya Lingkungan, Pengungkapan Corporate Social Responsibility Dan Ukuran Perusahaan Terhadap Profitabilitas Lusiana, Prima Aprilia; Mujiyati
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.18385

Abstract

Environmental issues that have been in the spotlight recently, such as pollution, climate change, and natural resource degradation, are the driving factors for this study. The company's production activities have a major impact on the environment, especially manufacturing companies in the non-cyclical consumer sector. Therefore, companies must strategize sustainable and environmentally friendly business methods. This study examines the effect of green accounting, environmental performance, environmental costs, corporate social responsibility disclosure, and company size on profitability in manufacturing companies in the non-cyclical consumer sector listed on the Indonesia stock exchange from 2021-2023. Purposive sampling is the sampling strategy used in this study, and secondary data such as sustainability reports and annual reports are used for data collection. 15 companies have met the requirements to become observation units. The data analysis technique used is multiple linear regression analysis and classical assumption test using SPSS 25 as a test tool. These findings provide factual evidence that company size significantly affects its profitability. Meanwhile, manufacturing companies in the non-cyclical consumer goods sector listed on the Indonesia Stock Exchange for 2021-2023 did not experience changes in profitability as a result of green accounting, environmental performance, or corporate social responsibility disclosure.
Pengaruh Kinerja Keuangan Terhadap Tingkat Kepercayaan Muzakki Untuk Membayar Zakat Profesi: Mampukah Kualitas Pelayanan Memoderasi? (Studi Kasus BAZNAS Kabupaten Sampang) Firman Ardiansyah; Halida, Uly Mabruroh; Handayani, Sri; Bin Ahmad, Shofian
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.18404

Abstract

This study aims to examine and analyze financial performance which includes transparency of financial statements, financial accountability, and competence in managing funds on the level of muzakki's trust in paying professional zakat moderated by quality of service. This study uses a quantitative method with a causality approach. Data collection used questionnaires with accidental sampling techniques to ASNs in Sampang Regency. The data obtained is then processed through SPSS. Testing the variable starts from the multiple linear regression test, then the moderated multiple linear regression test. The results showed that the transparency of financial reports, financial accountability, and fund management competence had a significant effect on the level of muzakki's trust, as well as service quality had a significant effect but were unable to moderate the transparency of financial reports, financial accountability, and fund management competence on the level of muzakki's trust to pay professional zakat at BAZNAS Sampang Regency.

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