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Laa Maisyir Jurnal Ekonomi Islam
Published by Universitas Islam Negeri Alauddin Makassar
ISSN : 24769371     EISSN : lamaisyir     DOI : https://doi.org/10.24252/laamaisyir
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Laa Maisyir adalah jurnal ekonomi Islam yang fokus kajian tentang pemikiran ekonomi syariah yang mencakup beberapa bidang kajian seperti jual beli, sewa, gadai, bagi hasil, serta perkembangan transaksi ekonomi seperti jual beli e-commers. Sehingga jurnal ini diharapkan mampu memberikan khasanah pemikiran ekonomi Islam yang uptudate atau kekinian.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "Vol. 12 No.2 (2025)" : 5 Documents clear
Pendayagunaan Zakat Produktif: Solusi Dalam Memberantas Kemiskinan Umat (Studi Pada Lapak Berkah Binaan IZI Makassar) Sudirman; Muhammad Nasri Katman; Alimuddin; Darwis Said; Muhammad Febriansyah
LAA MAISYIR: Jurnal Ekonomi Islam Vol. 12 No.2 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i2.61859

Abstract

This study aims to analyze the model of productive zakat utilization implemented by the Indonesian Zakat Initiative Makassar in empowering the economic capacity of mustahiq within the Lapak Berkah group. The study employs a qualitative approach using a case study method. Data were collected through in depth interviews with program managers, facilitators, and mustahiq, complemented by field observations and a review of relevant program documentation. Data analysis was conducted qualitatively through an iterative and continuous process involving data reduction, data display, and conclusion drawing. The findings indicate that the utilization of productive zakat by IZI Makassar is implemented through a series of systematic stages, including the assessment of prospective mustahiq, the phased distribution of business capital assistance, business mentoring and entrepreneurship training, monitoring and evaluation of business development, and religious guidance. Qualitatively, this utilization model is considered effective in enhancing the economic capacity of mustahiq, as reflected in positive developments in business performance, increased turnover, expansion of marketing networks, strengthening of working capital, and heightened awareness as well as capacity to contribute infaq. These findings affirm that productive zakat has significant potential as an instrument for community economic empowerment. However, its effectiveness is highly contingent upon the quality of mentoring, program sustainability, and the readiness of mustahiq to manage their businesses independently.
Exploring the Drivers of IPO Initial Return in Emerging Market: A Logistic Regression Analysis using Non-Financial Information Ash. Shiddiq, Muh. Hasbi; Arief, Fitriani
LAA MAISYIR: Jurnal Ekonomi Islam Vol. 12 No.2 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i2.62504

Abstract

This study aims to provide a new perspective on the phenomenon of initial returns in IPO stocks by incorporating non-financial information, namely underwriter reputation, listing board, and Sharia-compliant stock status. The underwriter variable is measured using research reports from PT Stockbit Sekuritas, which makes it distinct from previous studies that used different measures for underwriter reputation. The sample consisted of 192 IPOs listed between 2022 until April 15, 2025. Data were collected through documentation from publications by the Indonesia Stock Exchange and PT Stockbit Sekuritas. The data analysis begins with assessing model fit using the Akaike Information Criterion (AIC), Bayesian Information Criterion (BIC), and Pseudo R². Binomial logistic regression is employed to analyze the data, with interpretation based on odds ratios. The findings reveal that reputable underwriters and sharia-compliant status have a positive and significant effect on IPO initial returns, while the listing board does not have a significant impact. Specifically, IPOs managed by reputable underwriters are 3.32 times more likely to generate initial returns compared to those handled by non-reputable underwriters. Similarly, sharia-compliant IPOs are 2.35 times more likely to deliver initial returns compared to non-sharia IPOs. This study provides empirical evidence that non-financial information disclosed in IPO prospectuses should also be considered to complement financial information. Accordingly, the findings offer practical implications for investors, suggesting that they should consider underwriter reputation and sharia-compliant categorization as important factors when making IPO investment decisions.
Bahasa Inggris Yunil Hamri, Muhammad Syauqi; Albahi, Muhammad; Martias, Dony
LAA MAISYIR: Jurnal Ekonomi Islam Vol. 12 No.2 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i2.62725

Abstract

This study analyzes market reactions to stock split announcements for sharia-compliant stocks on the Indonesia Stock Exchange (IDX) for the 2025 period. Event-based corporate action studies on the Indonesian sharia-compliant stock segment are still limited, creating a research gap regarding the effectiveness of nominal signals in boosting trading liquidity, particularly when measured using Trading Volume Activity (TVA). The study employed an event study approach with a 10-day event window and a Paired Sample T-Test on paired data (pre–post event) to detect changes in average TVA. The sample consisted of five sharia-compliant issuers (n=5). The results showed an increase in average TVA from 0.00219 to 0.00311, but was not statistically significant (p=0.376>0.05; t=–0.996; 95% CI: –0.00349 to 0.00165). These findings confirm that the sharia-compliant stock market does not react strongly to short-term volume-based nominal stock split signals, challenging the general assumption of signaling theory in the sharia context. This novel research provides the latest empirical evidence that Islamic investors, including institutional investors, are more fundamentally oriented. Policy implications emphasize the need to strengthen literacy and disclosure standards by the Financial Services Authority (OJK) and IDX Syariah, as well as issuers' communication strategies for corporate actions.
The Meaning of Accountability in Mosque Management: An Ethnomethodological Approach Juardi, Muhammad Sapril Sardi; Alimuddin, Alimuddin; Said, Darwis; Binti Johari, Fuadah
LAA MAISYIR: Jurnal Ekonomi Islam Vol. 12 No.2 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i2.62881

Abstract

This study aims to interpret accountability in mosque management at Tarbiyah Mosque in Pinrang Regency, Raya Pancarijang Mosque in Sidrap, and Al Istiqamah Mosque in Rumbia, Enrekang. Novelty this research employs a qualitative method using an ethnomethodology approach to examine the everyday practices of mosque management within the social, cultural, and religious contexts of each mosque community.  The results of the study indicate that the practice of publicly reading out donations before the congregation embodies social legitimacy and strengthens the congregation’s trust in the mosque administrators. Furthermore, the meaning of accountability within the mallele donation practice reflects the values of sincerity, trustworthiness, and reciprocal relations between the administrators and the congregants. Finally, the interpretation of accountability expressed through the use of weekly information boards illustrates the value of information openness and transparency.
The Mediation Effect of Price to Book Value on Financial Ratio to Stock Return Almuzayyad; Guntur Kusuma Wardana
LAA MAISYIR: Jurnal Ekonomi Islam Vol. 12 No.2 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i2.63006

Abstract

Stock returns are main indicators used by investors to assess the performance of a stock, including those of Islamic financial institutions listed on the Indonesia Stock Exchange (IDX). Stock returns can be influenced by financial ratios such as ROA, DER, CR, TATO, and EPS. This study aims to determine the effect of ROA, DER, CR, TATO, and EPS on stock returns through PBV in Islamic financial institutions listed on the IDX for the period 2020-2024. This study uses a quantitative method. The population in this study consists of 59 companies, including 4 Islamic banks and 55 Islamic insurance companies, using purposive sampling techniques that produced 9 samples. This study used secondary data sourced from quarterly reports Islamic financial institutions listed on the IDX for the period 2020-2024. The results show that PBV is unable to mediate the effect of ROA, DER, CR, TATO, and EPS on the stock returns of Islamic financial institutions listed on the IDX for the period 2020-2024. However, the results of testing the hypothesis of direct influence on stock returns show that DER, CR, TATO, and EPS have a significant effect on stock returns. Meanwhile, ROA does not have a significant effect on stock returns.

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