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CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE
Published by Transpublika Publisher
ISSN : 2809848X     EISSN : 28098226     DOI : https://doi.org/10.55047/cashflow
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE main objectives is to establish an effective channel of communication between stakeholders including academic and research institution, businesses, governments and communities. It also aims to promote and disseminate the research finding in the development of management, accounting, and economic theories and practices. This CASHFLOW Journal provides wider range of scope on the area of management, accounting, and economic which is not limited on general practices but also on the issues of Sharia Economics, History of Islamic Economic Thought, Islamic Law, Local Wisdom in Sharia Economic Perspective, and others related to sharia economics.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 152 Documents
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The Influence of Murabaha Financing Funds on the Business Development of Rizky Prima Sejahtera KSPPS Members Davfa, Muhamad Indra; Retnosari, Retnosari
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1436

Abstract

One of the service products offered by KSPPS Rizky Prima Sejahtera is a sale- purchase financing contract based on murabahah. Murabahah is a financing contract for the sale and purchase of goods at the original price (acquisition price) with additional profit (margin) agreed by both parties (seller and buyer). The goal of this research is to examine how the murabahah financing provided by Rizky Prima Sejahtera KSPPS impacts the growth of the businesses belonging to its members. By cooperating with KSPPS through murabahah financing, people who lack capital can develop their micro businesses. The authors utilized qualitative research methods to gather information, including conducting interviews, reviewing documents, studying literature, and employing descriptive analysis techniques in their data analysis. Also, based on the results of the study, it shows that the murabahah financing fund has a positive effect on the business development of MSME members of KSPPS Rizky Prima Sejahtera.
Analysis of Quick Ratio, Return on Assets, and Company Size in Pulp and Paper Companies Mursalini, Wahyu Indah; Afniyeni, Afniyeni; Santika, Mutiara Dwi
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1466

Abstract

This research aims to analyze the influence of the Quick Ratio and Return on Assets on company size in the Pulp and Paper industry sector on the Indonesian Stock Exchange over a five-year period from 2017 to 2022. The study included 8 samples taken from 9 various groups of companies within the pulp and paper sub-sector listed on the IDX during the specified timeframe. The research utilized purposive sampling for data collection. The analysis involved classical assumption testing, coefficient of determination test (R²), multiple linear regression, and hypothesis testing. The research results show that partially the Quick Ratio has no significant effect on Company Size. Meanwhile, Return on Assets has no significant effect on Company Size. After conducting the F test to analyze the third hypothesis, it was determined that the f value of 7.711 is greater than the f table of 3.209. Additionally, the significance value of 0.001 is less than the pre-determined alpha level of 0.05. This suggests that there is a significant impact of the independent variable on the dependent variable, namely the Quick Ratio and Return on Assets which together have an effect significant to Company Size. In this research, the Quick Ratio and Return on Asset variables can only explain 25.5% of company size according to the results of the coefficient of determination (R²) test, so the closeness of the dependent and independent variables is low. Meanwhile, the remaining 74.55% is influenced by other variables outside the model discussed in this research.
Factors That Affect Stock Returns in Food and Beverage Companies Listed on the Indonesian Stock Exchange Mursalini, Wahyu Indah; Sriyanti, Esi; Putri, Attila Nurhida
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 2 (2025): JANUARY
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i2.1467

Abstract

The primary objective of this research is to analyze the financial progress of Food and Beverage Companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. The study focuses on four main parameters: Economic Value Added (EVA), Market Value Added (MVA), Refined Economic Value Added (REVA), and Financial Value Added (FVA), and their influence on stock returns. The research methodology employed is quantitative. The target population consists of all Food and Beverage Companies listed on the Indonesia Stock Exchange during the specified period. A purposive sampling method was used to select 20 samples that met specific criteria. Data were collected from secondary sources, specifically annual reports. Data analysis was conducted using SPSS 25 software to assess the influence of EVA (X1), MVA (X2), REVA (X3), and FVA (X4) on stock returns. The results of the study indicate that EVA (X1) and MVA (X2) do not significantly impact stock returns, with t-values of -0.266 and 1.485, respectively. Similarly, REVA (X3) does not show a significant effect on stock returns, with a t-value of 0.643. However, FVA (X4) demonstrates a significant negative relationship with stock returns, with a t-value of -2.423. When considered collectively, EVA, MVA, REVA, and FVA do not have a significant effect on stock returns. The F-value was 1.738, with a significance level of 0.153.
Analysis of Debt to Asset Ratio and Debt to Equity Ratio on Return on Assets in Hotel, Restaurant, and Tourism Sub-Sector Companies Listed on the Indonesian Stock Exchange Mursalini, Wahyu Indah; Sriyanti, Esi; Septiana, Sherli
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1485

Abstract

The purpose of this study is to investigate the influence of debt-to-asset and debt-to-equity ratios on the return on assets of companies operating in the hotel, restaurant, and tourism sector that are publicly traded on the Indonesia Stock Exchange between 2020 and 2023. Using a sample of 88 data from 22 businesses in this subsector, the methodology used is a quantitative approach with correlation analysis. Literature review and documentation were used for data collection, while multiple linear regression, descriptive statistical tests, and hypothesis testing were used for data analysis. With a value of t-value -3.384 > t-table 1.987 and Sig. 0.001 < 0.05, so the research findings show that the Debt to Assets Ratio (X1) variable has a partial influence on Return on Assets (Y). Apart from that, if t-value 6.468 > t-table 1.987 and Sig. 0.016 < 0.05, then the Debt-to-Equity Ratio (X2) also influences Return on Assets (Y). These two factors simultaneously influence Return on Assets (Y), with Sig. 0.000 < 0.05 and f-value 22.010 > f-table 3.10. During the 2020–2023 period, the hotel, restaurant and tourism subsectors listed on the Indonesia Stock Exchange experienced a combined impact of 34.1% from the Debt to Assets Ratio (X1) and Debt to Equity Ratio (X2) on Return on Assets (Y).
The Role of Islamic Loans in Advancing Financial Inclusion and Socio-Economic Development Hassan, Ramzi Abdullah Ahmed
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1497

Abstract

This study explores the role of loans in Islam in fostering financial inclusion and addressing various economic and social challenges, particularly in Muslim-majority countries. By adopting a comparative research methodology, the research evaluates how Islamic loans differ from conventional financial instruments in promoting inclusive economic growth, alleviating poverty, and supporting community development. It investigates the challenges of Islamic loans, including accessibility, regulatory constraints, and cultural perceptions, while also exploring the potential benefits and limitations. Additionally, the study highlights the significant role of Islamic financial literacy in enhancing financial inclusion, focusing on how well-informed communities can better utilize Islamic financial services. The paper underscores the importance of Islamic finance, including tools like microfinance, zakat, and risk-sharing contracts, in contributing to poverty reduction, wealth redistribution, and overall economic stability. Through this analysis, the study presents a comprehensive understanding of how Islamic finance can serve as a powerful tool for sustainable economic development and financial inclusion.
Financial Report Analysis as a Basis for Assessing Franchise Companies Listed on the Indonesia Stock Exchange: (Case Study of PT. Hero Supermarket Tbk and PT Midi Utama Indonesia Tbk for the 2021-2023 Period) Ajitama, Ombih; Mardiani, Isni; Wahono, Puji; Pahala, Indra
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1498

Abstract

The escalating number of franchise outlets in the current business landscape has triggered fierce rivalry among business owners. An effective way to reach a company's objectives is by evaluating its financial performance. To assess a company's performance, one can compare its ratios with those of similar companies. This research focused on public franchise companies like PT Hero Supermarket Tbk and PT Midi Utama Indonesia Tbk to determine which firm excels in terms of financial performance. Qualitative data, comprising company profiles and financial reports from 2021-2023, was utilized in this study. Secondary data, such as financial reports from 2021-2023 acquired from the Indonesia Stock Exchange (www.idx.co.id), were analyzed. A quantitative analysis was conducted on the balance sheet and income statement of the two companies. Liquidity ratios (Quick Ratio, Current Ratio), solvency ratios (DAR, DER), and profitability ratios (Net Profit Margin, ROA, ROE) were utilized in the analysis. Results indicated that the liquidity ratios of both companies fluctuated due to an increase in liabilities, surpassing current assets. Solvency ratios exhibited fluctuations caused by rising total debt, assets, and equity. Profitability ratios witnessed a decline in net profit due to higher costs of goods sold incurred by the company.  
EXPLORING THE ROLE OF BRAND AMBASSADORS IN SHAPING BRAND EQUITY: INSIGHTS FROM THE BEAUTY SECTOR Hasbiah, Sitti
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 3 No. 4 (2024): JULY
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v3i4.1518

Abstract

This study aims to examine the relationship between brand ambassadors and brand equity in the beauty industry, focusing on Somethinc, an Indonesian skincare brand. Using a quantitative research approach, data were collected through surveys distributed to 45 respondents who are followers of Somethinc's Instagram account. The analysis employed path analysis and various statistical tests, including normality, multicollinearity, and heteroscedasticity tests, to ensure the robustness of the results. The findings revealed a significant positive relationship between brand ambassadors and brand equity, with the model explaining 48% of the variance in brand equity. Specifically, the presence of a brand ambassador significantly influenced consumer perceptions, contributing to increased brand loyalty, brand awareness, perceived quality, and brand associations. This study highlights the importance of strategic celebrity endorsements in enhancing brand equity, particularly in the competitive beauty sector. The results contribute to a deeper understanding of how brand ambassadors can be leveraged to strengthen brand positioning and consumer trust.
THE IMPACT OF BRAND CREDIBILITY ON BRAND EQUITY IN THE BEAUTY INDUSTRY Hasdiansa, Ilma Wulansari
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 3 No. 4 (2024): JULY
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v3i4.1519

Abstract

This research investigates the impact of brand credibility on brand equity in the beauty industry, particularly focusing on skincare products. The objective is to explore how the perceived trustworthiness and expertise of a brand influence its overall brand equity, which includes customer loyalty, brand awareness, perceived quality, and brand associations. Using a quantitative approach, data were collected through surveys distributed to 45 consumers who are regular users of beauty products. Statistical analysis, including regression analysis, was used to examine the relationship between brand credibility (comprising trustworthiness and expertise) and brand equity. The results show that brand credibility has a significant positive effect on brand equity, with trustworthiness emerging as the stronger predictor of brand equity compared to expertise. These findings suggest that brands in the beauty industry can enhance their market position by improving their credibility, particularly in terms of trustworthiness. The research concludes that building a trustworthy brand image is essential for strengthening brand equity and sustaining consumer loyalty in a competitive market.
Analysis of Foreign Ownership on Tax Avoidance Mardiani, Isni; Ajitama, Ombih; Pahala, Indra; Wahono, Puji
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 1 (2024): OCTOBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i1.1520

Abstract

Economic globalization has driven the flow of foreign direct investment (FDI) to various developing countries including Indonesia. Increasing foreign ownership in domestic companies has brought positive impacts such as job creation, technology transfer, and increased global competitiveness. However, on the other hand, there are concerns that foreign ownership in companies can also increase tax avoidance practices. Businesses with overseas ownership frequently exploit gaps in tax laws across different countries due to their access to global networks and additional resources. Research on a specific sample revealed that foreign ownership tends to have a detrimental impact on tax evasion. However, there are conflicting studies that suggest a positive or neutral outcome. This indicates that the level of tax evasion within a company is heavily influenced by its internal and external policies, as well as the various market environments it operates in.
Determination of Financial Factors on Firm Value Kurniawan, Yogi Ade Tia; Hartono, Ulil; Haryono, Nadia Asandimitra
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 2 (2025): JANUARY
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i2.1525

Abstract

This study aims to analyze the impact of Liquidity, Solvency, Profitability, and Activity on Company Value in food and beverage manufacturing companies listed on the IDX for the 2019–2022 period. The research employs a quantitative, causal associative approach using secondary data from company financial statements. A purposive sampling method was used, resulting in a sample of 24 companies, and the data were analyzed using multiple linear regression. The results show that simultaneously, the independent variables influence Company Value. Partially, the Liquidity variable (proxies: current ratio, quick ratio, and cash ratio) significantly affects Company Value (PBV). For Solvency, the debt-equity ratio (DER) and long-term debt-equity ratio (LTDtER) significantly affect Company Value, while the debt-asset ratio (DAR) does not. In terms of Profitability, return on equity (ROE) and return on assets (ROA) have significant effects, but net profit margin (NPM) does not. Lastly, under the Activity variable, inventory turnover (PPe) significantly affects Company Value, while accounts receivable turnover (PPi) does not. These findings underscore the importance of financial performance metrics in describing a company’s ability to meet obligations, achieve profitability, and manage asset turnover. Such insights are valuable for companies in understanding how their financial performance impacts Company Value.

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