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MUQTASID
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Articles 169 Documents
Fundamental Factors and Islamic Stock Returns of Food and Beverage Companies in Indonesia Amaroh, Siti; Zahro, Siti Mudrikatuz; Masturin, Masturin
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 1 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v11i1.29-42

Abstract

This study examines the influence of issuers’ fundamental factors on Islamic stock returns in Indonesia. It is documentary research with data from company financial reports in the food and beverage industry. The companies were listed on the Indonesia Sharia Stock Index during 2015-2019. The sample selection was based on purposive sampling. The selected companies continuously published financial statements and had no negative earning per share. Based on the inclusion criteria, nine consistent firms were entered in data processing by Eviews software through several stages. The first stage involved determining the panel data regression model with common, fixed, and random effect models. The second stage was the selection of the fit model using 3 tests, including Chow, Lagrangian Multiplier, and Classic Assumption. The common effect was the fit panel data regression model. The results show that Return on Assets positively influences Islamic stock returns. However, Debt to Equity Ratio and Earning per Share do not affect Islamic Stock returns. Therefore, investors should pay attention to ROA before investing in Islamic capital market.   
Back Mater Vol. 12 No. 1 Setyoko, Bimo Haryo
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 12, No 1 (2021): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v12i1.%p

Abstract

Prospects and Challenges of Crowdfunding as an Alternative Funding Option in Nigeria Aderemi, Abdulmajeed M.R.; Maulida, Sri; Maikabara, Abdullateef Abdulqadir
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 12, No 1 (2021): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v12i1.17-31

Abstract

This study aims to review the concept, prospects, and challenges of crowdfunding in Nigeria. Furthermore, it adopts a library-based concept in which secondary sources are relied on data collection using descriptive and deductive approaches of analysis. The results showed that Nigeria has the potential of becoming the hub center of crowdfunding in Africa. However, various challenges are facing the growth of this platform as a means of financing. These include the issues of regulation, lack of adequate awareness, as well as fraud and corruption. Furthermore, this study recommends the need for adequate awareness about crowdfunding and the regulation to ensure its functionality. It also offers additional literature as a means of financing, especially from the Nigerian context.
Spin-off Policy on Islamic Insurance Industry Development in Indonesia: Maslahah Perspective Waluyo, Agus
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 2 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v11i2.133-148

Abstract

This study aims to describe the efforts to develop the sharia insurance industry in Indonesia. This study is a literature review supported by data and analysis with sources in the form of books, articles, websites and documents. This study resulted in several findings, including one of the efforts to develop the sharia insurance industry was pursued by the government through a spin-off policy. The spin-off policy normatively and substantially can encourage the growth of Islamic insurance in the country and in accordance with the community expectations in actualizing benefits in order to protect religion, life, descent, reason and property. The sharia insurance spin-off process in Indonesia has not run as expected. To support the acceleration of spin-off policy realization, it must be supported by strengthening regulations and human resources, product innovation, literacy, and expanding access. The implication ofthis study is that there is still a need to strengthen regulations and human resources so that the sharia insurance spin-off policy program can be realized.
Responsiveness of Volatility Analysis of the Jakarta Islamic Index on Macroeconomic Variables Susanti, Eni; Agriyanto, Ratno; Musahadi, Musahadi; Zuhri, Saifudin
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 12, No 1 (2021): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v12i1.32-48

Abstract

This study aims to analyze the influence and response of the Jakarta Islamic Index (JII) volatility to changes in macroeconomic variables. VECM was used to examine the long-and short-term effects, while IRF was used to analyze the JII response. Data were obtained from BPS, BI, and Yahoo Finance monthly from 2015-2020 using global macroeconomic fiscal variables, including inflation, BI and Exchange Rates, Industrial Production Index, World Oil Price, Malaysia Hijrah Shariah Index, and DJIM Malaysia Titan 25 Index. The results show that JII is influenced by inflation variables, BI rate, IPI, OP, MHS, and DJIM in the long term but not the exchange rate. Furthermore, it is influenced by BI rate, IPI, OP, MHS, and DJIM in the short term, while the exchange rate and inflation have no significant effect. Macroeconomic variable shock influence JII by 52,27% while the rest is influenced by other variables outside the model. This research implies that the JII index is very sensit ive to economic changes.
Determinants of Sustainability Reporting of Islamic Banks in Emerging Countries Nilasakti, Afifah Oki; Falikhatun, Falikhatun
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 2 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v11i2.149-161

Abstract

This study aims to determine the effect of Islamic corporate governance and slack resources on sustainability reporting of Islamic Commercial Banks in Indonesia and Malaysia from 2015-2018. The corporate governance in this study consists of sharia supervisory board, the size, board of directors meeting, and audit committee. This is a quantitative study that used secondary data such as the annual and sustainability report. The reporting proxy was measured by the content analysis method which consisted of 78 items from the six dimensions adopted disclosure of AAOIFI. Furthermore, the analysis technique used was panel data regression with Random Effect Model (REM) as the estimation model. The results showed that the sharia supervisory board has a negative effect on sustainability reporting, while the board size, audit committee, and slack resources have a positive effect. Meanwhile, the board of directors' meeting has no effect on sustainability reporting. Therefore, the related government agencies such as Otoritas Jasa Keuangan (Financial Service Authority/FSA) and Bank Negara Malaysia are able to consider that the regulation related to the composition of sharia supervisory board for banking is in line with international ideal standards. 
Internal and External Factors Effects towards Return on Assets in Indonesian Foreign Exchange Sharia Bank Rizal, Rizal; Marlion, Farid Ahmad; Pasrizal, Himyar; Anita, Rini
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 12, No 1 (2021): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v12i1.49-62

Abstract

This study aims to analyze the influence of internal factors such as financing and third-party funds, as well as external factors including inflation, BI, and exchange rate against Return On Asset (ROA) at Indonesian Foreign Exchange Sharia Bank. Furthermore, the library research was used and quantitatively described. Also, using the total sampling technique, the research team obtained six sample banks, namely Bank Mega Syariah, Muamalat Indonesia, Panin Dubai Syariah, BNI Syariah, BRI Syariah, and Bank Syariah Mandiri. The data include Balance Sheet and Profit, Loss Financial Statements, as well as the published reports on inflation, BI, or exchange rates obtained in a quarterly period from 2015 to 2019. According to the F-test, there was a significant influence between the independent variables (Financing, Third Party Funds, Inflation, BI, and Exchange Rates) on the dependent (ROA). Meanwhile, the t-test showed there was no significant effect of partial financing, Third Party Funds, BI rate (X ), and Kurs (X ) on the ROA. Therefore, this study showed there was an increase in ROA because the society involves in financing due to high inflation.
Front Matter Vol. 11 No. 2 Setyoko, Bimo Haryo
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 2 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v11i2.%p

Abstract

A Comparative Analysis of Resilience of Islamic and Conventional Banks in Indonesia Ulina, Sri; Majid, M. Shabri Abd.
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 2 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v11i2.88-103

Abstract

The presence of the 2008 Global Financial Crisis (GFC) has adversely impacted both conventional and Islamic banking performances. This study aims to empirically compare the financial performances between Islamic banks and conventional banks during the pre- and post-2008 GFC periods. It also attempts to compare the financial performance of each Islamic and conventional bank between the pre- and post-2008 GFC periods. Three state-owned banks from each conventional and Islamic banking category were selected as the study sample using the purposive sampling technique. Based on the independent sample t-test, the study found a significant difference between the Islamic and conventional banking performances during the pre- and post-2008 GFC periods. Meanwhile, based on the paired t-test, the decline in Islamic banking performance from the pre-2008 GFC to the post-2008 GFC periods was significantly smaller than their conventional banking counterparts. These findings show the Islamic banks' superiority over their conventional banking counterparts due to fair and just practices based on Islamic tenets. Due to theirreliance in facing the episodes of crises, the Islamic banks deserve a strong support by government by enhancing prudent Islamic banking regulation. The Islamic banks should strive to operate fully based on the shari'ah principles and prudent banking management.

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