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INDONESIA
ETIKONOMI
Published by Universitas Islam Negeri Syarif Hidayatullah Jakarta
ISSN : 14128969     EISSN : 24610771     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Etikonomi is a peer-reviewed journal on Economics, Business and Management by Faculty of Economic and Business State Islamic University (UIN) Syarif Hidayatullah Jakarta. FOCUS This journal focused on economics, business, and management studies and present developments through the publication of articles, research reports, and book reviews. SCOPE Etikonomi specializes on Economics, Business, and Management, and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
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Articles 13 Documents
 1   2 
Search results for , issue "Vol 19, No 2 (2020)" : 13 Documents clear
Effects of Leverage, Liquidity, and Profitability on The Rating of Sukuk Dede Nurohman; Ilma Mufidatul Lutfiana; Novi Khoiriawati
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16274

Abstract

The rating of Sukuk becomes the reflection of the capital markets' activities. The better rating of Sukuk, the more investor is interested in purchasing a Sukuk. This study aimed to examine the effects of leverage, liquidity, and profitability on Sukuk's rating. The technique of data analysis employed was ordinal logistic regression. The research result revealed that the leverage and liquidity affected the Sukuk. Meanwhile, the profitability did not affect the rating of Sukuk. The test result simultaneously showed that the leverage variable and liquidity affected the Sukuk rating. Overall, this study's research result supported the previous research that discovered the impacts of leverage and liquidity variables on Sukuk's rating. The implication is that companies should improve their leverage and liquidity performance to improve the bond rating.JEL Classifications: G1How to Cite:Nurohman, D., Lutfiana, I. M., & Khoiriawati, N. (2020). Effects of Leverage, Liquidity, and Profitability on The Rating of Sukuk. Etikonomi: Jurnal Ekonomi, 19(2), 299-310. https://doi.org/10.15408/etk.v19i2.16274.
Recent Development of Islamic Banking Performance Measurement Azis Budi Setiawan; Amilin Amilin; Mohammad Nur Rianto Al Arif
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15706

Abstract

This study aims to review the development of research related to Islamic banks' performance measurement and various alternative models. It uses a meta-analysis approach to identify other previous studies from various journals and relevant researches. The results show that the measurement of Islamic bank performance mostly uses financial performance measurements similar to conventional bank performance measurements, which use financial ratios and efficiency. There have been several serious efforts to develop alternative models for measuring Islamic banks' performance to reflect their nature and objectives better. These models include the Islamicity Index, Economic Contribution and Muslim Communities, Social Performance Index, Maqashid Index, and Islamic Bank Maqashid Index. However, eventually, these models are still in the early stages of development and have several weaknesses. Thus, it is still necessary to develop a model for measuring Islamic bank performance relevant to its philosophy and objectives.JEL Classification: G21, L25How to Cite:Setiawan, A. B., Amilin., & Al Arif, M. N. R. (2020). Recent Development of Islamic Banking Performance Measurement. Etikonomi: Jurnal Ekonomi, 19(2), 203-220. https://doi.org/10.15408/etk.v19i2.15706.
Indonesian Islamic Banking Performance: a Conceptual Framework Ruspita Rani Pertiwi; Jann Hidayat Tjakraatmadja; Hary Febriansyah
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16270

Abstract

This conceptual paper aims to develop an integrated organizational performance model. The analysis will focus on the role of organizational management variables using Indonesian Islamic banking as a case study and features a correlation between how they manage their performance. The model developed in this paper uses a conceptualization phase adapted from Dubin's theory-building method. The conceptualization phase formed through interviews, observations, written expert experiences, and research publications. The finding proposes a conceptual framework that has the potential to boost organization performance by pay attention to how to bring together service innovation, knowledge management capability, and human capital drivers in such a model. The findings provide valuable insights for organizations into non-financial variables' role and the importance of organizational management variables in improving organizational performance, which could help them in (re-) align their management practices and formulating strategies for Indonesian Islamic banking.JEL Classification: L2, L8How to Cite:Pertiwi, R. R. (2020). Indonesian Islamic Banking Performance: A Conceptual Framework. Etikonomi: Jurnal Ekonomi, 19(2), 185-202. https://doi.org/10.15408/etk.v19i2.16270.
Risk Appetite and Investment Behavior: A Study on Indonesia Muslim Investors Egi Arvian Firmansyah; Nirmala Andanawari
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16062

Abstract

It has been nine years since the Indonesia Stock Exchange established a Syariah Online Trading System (SOTS), but the number of investors using this system is still relatively small compared to the regular investor. Moreover, the number is much smaller than the potential number of sharia financial markets. This study aims to describe Muslim investors' behavior in Indonesia who use the regular stock account instead of the sharia account. We surveyed by using both offline and online questionnaires, whereby the investors ask to compose the imaginary stock portfolios consisting of stocks and their weights. Using a convenience sampling method, we succeeded in interviewing 85 respondents spread across Indonesia. This study shows that the risk appetite of Indonesian Muslim investors is risk-averse, and they consider sharia aspects in their investment decision. Nonetheless, the compliance to sharia varies among them. Hence, Indonesian Muslim investors cannot be seen and treat as a homogenous group.        JEL Classification: G12, G15, G33How to Cite:Firmansyah, E. A., & Andanawari, N. (2020). Risk Appetite and Investment Behavior: A Study on Indonesia Muslim Investors. Etikonomi: Jurnal Ekonomi, 19(2), 287-298. https://doi.org/10.15408/etk.v19i2.16062.
How Efficient are Islamic Banks in Indonesia, Saudi Arabia, and the United Kingdom? Suhail Suhail; Mohamad Soleh Nurzaman
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15862

Abstract

This research aims to analyze the efficiency level of 13 Islamic Banks in Indonesia, Saudi Arabia, and the United Kingdom from 2015 to 2019. The calculation of the efficiency level in this study is relative, not absolute. This study uses the Data Envelopment Analysis (DEA) method and source data from Bankscope and Bank Focus. This research consists of 3 input variables that are Total of Assets (X1), Staff Expenses (X2) and Total Deposit (X3), and 2 Output that is Income (Y1) and Loan (Y2). This research finds that the overall efficiency level of 13 Islamic banks in Indonesia, Saudi Arabia, and the United Kingdom are fluctuating. According to the result, the Islamic banks in Saudi Arabia is more efficient than in Indonesia and the United Kingdom. There are some inefficient variables—the solution for this inefficiency problem achieve by employing managerial simulation generated by DEA. This study implies that Islamic banks should reduce wasteful variables and optimize the variables that improve the efficiency.JEL Classification: C1, F30, G20, G21How to Cite:Suhail., & Nurzaman, M. S. (2020). How Efficient are Islamic Banks in Indonesia, Saudi Arabia, and the United Kingdom?. Etikonomi: Jurnal Ekonomi, 19(2), 237-270. https://doi.org/10.15408/etk.v19i2.15862.
Do Good Corporate Governance and Financing Risk Management Matter for Islamic Banks’ Performance in Indonesia? Agustina Maulidar; M. Shabri Abd. Majid
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15080

Abstract

The purpose of this study is to examine and analyze the influence of the implementation of Good Corporate Governance principles and financing risk management on the Islamic banks' performance in Indonesia over the 2010-2019 period. 11 full-pledge Islamic Banks (BUS) was selected as the study sample using the purposive sampling technique and analyzed using the panel multiple regression techniques. The study found that Good Corporate Governance (GCG) and Financing to Deposit Ratio (FDR) positively influence the Islamic banks' performance. In contrast, Non-Performing Financing (NPF) has a negative influence on Islamic banks' performance. These findings imply that to promote the performance further, the Islamic banks should enhance the implementation of GCG principles and minimize NPF by improving financing risk management and enhance their financing by allocating their existing funds to the bankable and productive economic sectors.JEL Classification: G21, G34How to Cite:Maulidar, A., & Majid, M. S. A. (2020). Do Good Corporate Governance and Financing Risk Management Matter for Islamic Banks’ Performance in Indonesia?. Etikonomi: Jurnal Ekonomi, 19(2), 169-184. https://doi.org/10.15408/etk.v19i2.15080.
Waqf Forest: How Waqf Can Play a Role In Forest Preservation and SDGs Achievement? Khalifah Muhamad Ali; Salina Kassim
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16310

Abstract

Previous studies about waqf for forest conservation mostly concentrated on its potential or its prospect for forest preservation or environmental protection. In contrast, a detailed discussion about how to establish a waqf forest to support the SDGs is still noticeably absent. This paper aims to formulate a scheme of productive waqf forests that can help the achievement of Sustainable Development Goals (SDGs). To our knowledge, this is the first paper that provides a scheme of productive waqf-based forest. The present study was conducted using a literature study method and interpretative analysis. The result shows that a productive waqf forest should supply not only intangible benefits but also generate tangible benefits that can be used for the waqf forest development. Both benefits which support some main points of SDGs, such as in reducing poverty and hunger, maintaining climate, health, biodiversity, and water supply, are mainly delivered to the mauquf’alaihi.JEL Classification: D64, G23, Q01, Q23, Z12.How to Cite:Ali, K. M., & Kassim, S. (2020). Waqf Forest: How Waqf Can Play a Role In Forest Preservation and SDGs Achievement?. Etikonomi: Jurnal Ekonomi, 19(2), 349-364. https://doi.org/10.15408/etk.v19i2.16310.
Zero Waste Accounting for Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals Yaser Taufik Syamlan; Murniati Mukhlisin
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15538

Abstract

This study aims to propose a model of Zero Waste Accounting in Islamic Financial Institutions in Indonesia and how it is relevant to the achievement of Sustainable Development Goals (SDGs).  Due to the nature of the research that is exploration thus the research adopts interpretative approach that is essential to validate the research with “convincingness” approach rather than positivist measures of the reliability, validity of data and the generalization of results. The finding documents that Zero Waste Accounting is in vein with the spirit of Maqashid ul-Shariah that has been embedded as a part of the purpose of Islamic financial institution establishment. Statement of Sources and Uses of Zero Waste Accounting should become one of the additional disclosures. The paper sheds a light the need on Zero Waste Accounting for the accounting standard setters.JEL Classification: G20, G52, Q56How to Cite:Syamlan, Y. T., & Mukhlisin, M. (2020). Zero Waste Accounting in Islamic Financial Institutions in Indonesia and Its Role in Achieving Sustainable Development Goals. Etikonomi: Jurnal Ekonomi, 19(2), 365-382. https://doi.org/10.15408/etk.v19i2.15538.
Probability of Paying Zakat from Micro financing Project Returns Jarita Duasa; Nur Hidayah Zainal
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15113

Abstract

The study aims to investigate the probability of paying zakat among participants or recipients of micro-finance scheme of Amanah Ikhtiar Malaysia. A survey is conducted on participants of Amanah Ikhtiar Malaysia scheme using convenience sampling in Perak and Kelantan. Data from the survey are analyzed using descriptive statistics and logistic regression. The results show that higher probability of paying zakat among respondents determined by small household size, lower per capita income, higher education level and those living in Perak. Thus, efforts should be taken by zakat institutions to well develop good and efficient methods of zakat collection among the participants specifically among low educated and higher income/return of the projects.JEL Classification: C31, C83, D64, I39, G23How to Cite:Duasa, J., & Zainal, N. H. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), 333-348. https://doi.org/10.15408/etk.v19i2.15113.
The Relationship of Macro-risk Indicators, Internal Factors, and Risk Profile of Islamic Banking in Indonesia Perdana Wahyu Santosa; Any Setianingrum; Nurul Huda
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.15528

Abstract

This study is essential because Islamic banks have a higher NPF level than conventional banks and examine whether macroeconomic indicators (macro-risk), internal factors of banking (GCG-earnings-capital) risk profile correlate term Indonesian Islamic banking. The method used is the correlation analysis involving four macro-risk variables (Forex; BI rate; Inflation and GDP), three GEC variables (GCG; ROA, and CAR), and two risk profiles (FDR and NPF). The number of samples is the ten largest Indonesia sharia commercial banks with the 2011-2018 periods. This research finds that macroeconomic indicators positively correlate to non-performing financing (NPF). The GEC positively correlates to NPF and FDR; GEC is negatively correlated to macro-risk indicators. However, some indicators are negatively correlated, such as GDP-corporate governance, Forex-profitability, GDP-efficiency, BI rate-capital, and profitability-NPF. The study proposed managerial implications to understand the relationship between macroeconomic, internal factors, and risk profile in Islamic bank lending.JEL: D02; G21, G32How to Cite:Santosa, P. W., Setianingrum, A., & Huda, N. (2020). The Relationship of Macro-risk Indicators, Internal Factors and Risk Profile of Islamic Banking in Indonesia. Etikonomi: Jurnal Ekonomi, 19(2), 221-236. https://doi.org/10.15408/etk.v19i2.15528.

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