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Global Review of Islamic Economics and Business

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Published by Universitas Islam Negeri Sunan Kalijaga Yogyakarta

ISSN : 23387920 EISSN : 23382619 DOI : -

Core Subject : Economy,

Economics, Econometrics & Finance

The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 5 Documents

Search results for , issue "Vol 5, No 2 (2017)" : 5 Documents clear

Shariah Screening methodologies: SAC-SC vs DJIM Comparative study and impact assessment on their performance Mohamed Yassine Khouildi; Mohamed Bengana; Mounir Rakibi; Mohamed Redouane Riad; Suhaib Aldirchawi
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Purpose – The purpose of this paper is to compare between two screening methodologies in terms of applied methods and the impact assessment. Other than this the paper measures the performance of screened stocks in terms of risk & return and compare it to the conventional onesDesign/methodology/approach – The methods used are a combination of archival and bibliographic research based on some previously published articles. Also the papers use secondary data from published reports.Findings – The paper identifies the impact assessment of the screening methodologies and how investors will not sacrifice part of their returns in order to achieve their moral and ethical values.Originality/value – Many studies compared the two screening indices in term of methodologies; however this paper investigates and uses a quantitative analysis on the impact and performance of the screening methodologies. Furthermore it compares the stages of screening between Shariah Advisory Council of Securities commission (SAC-SC) and Dow Jones Islamic Market Index (DJIM)Keywords – screening, methodologies, impact assessmentPaper type – comparative case study

The Relation Between Minimum Wages and Poverty in Indonesia: An Islamic Perspective Ahmad Syarif; Wahyu Hadi Wibowo
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This study is part of Islamic economics research that aims to determine the relationship between the minimum wage and poverty rate in Indonesia, especially case studies in West Java, Central Java, East Java, Special Region of Yogyakarta, and Banten during the period 2007-2013. In addition to the primary independent variable, there are six control variables are used, the level of education, the GDP per capita, unemployment rate, inflation rate, average wages and economic growth. The analysis technique used in this study are Arellano Bond Dynamic GMM (Generalized Method of Moment). The results of this study found that the minimum wage is not a significant effect on poverty levels in 2007-2013, especially in the districts/cities in West Java, Central Java, East Java, Special Region of Yogyakarta and Banten. Based on the explanation above, it can be concluded that government has responsibilities and sufficient role to reduce poverty through minimum wage standardization, the state also has responsibilities to create social security, both for those who are unable to work, informal workers and vulnerable workers, so that the level of wages (income) they can meet any basic needs according to Ibn Hazm include food, clothing, health, education and housing.

vulnerability of islamic banking hasan albanna
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The recent global financial crisis has renewed the focus on the resistance of Islamic banks in order to confront the crisis. While several empirical studies show that Islamic banks have no resist from the crisis. thus, Islamic banks run their business side by side with their counterpart and play the game under the same umbrella and the rules of game. In case of Indonesia, which implement dual banking system, Islamic banks have potential to be effected by the variables of conventional banks. Which mean, this condition led the Islamic banks have the vulnerable spot in economic life. This paper aim to examine the stability of Islamic banks and to discern dynamic behavior of Islamic banks to the macroeconomic variables such as GDP, inflation rate, exchange rate and interest rate. the measure of stability of Islamic banks formulated as z-score. Then, We use VAR/VECM analysis in order to see the dynamic behavior and the vulnerability of Islamic banks. the paper found several findings, first, during the global financial crisis, Islamic banks more stable than the conventional banks, while after the global financial crisis conventional banks tend to be more stable than Islamic banks. Second, From the IRF test display that Islamic banks react sensitively to the shock of interest rate. however, Islamic banks prohibit the practice of interest rate. even though, in practical reason, Islamic bank use interest rate as benchmarking to determine the price. This condition put the Islamic Banks in vulnerable condition. Third, the FEVD test showed that the stability of Islamic banks mostly contribute by its own stability then followed by GDP, interest rate, exchange rate and Inflation. At the seventh period the stability of Islamic banks mostly contribute by its stability then followed by Inflation rate, GDP, exchange rate and interest rate.

Remedy for Unproductive Researches and Disintegrated Information in Islamic Finance: ‘Riba Information Queries Digital Portal’ TAHREEM khan
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Abstract: Islamic finance industry evolution and development has been a central concern to scholars, researchers, and managers alike. However for last few years, academia and practitioners have indicated on a serious note that the success and growth of Islamic finance is getting affected because of lack of integration and collaborative approach between different institutions and key actors. Fragmentation plagues the thought process thus saps research productivity, it further create deadlock in research innovation, and makes it hard to be responsive according to the industry and customer needs. In that case, it is essential to find an answer: How a valuable and impactful platform can be designed which can add knowledge to individuals, bankers and society aswell? Realizing the challenge of fragmented information and disconnected issues in Islamic finance sector, this research attempt to propose a solution which can assist Islamic bankers, Islamic finance education providers, shariah scholars, students and researchers in gathering information and conducting more useful and productive research.

Testing The Warrants Mispricing and Their Determinants: The Panel Data Models Muhammad Rizky Prima Sakti; Abdul Qoyum
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This paper empirically studied the impact of several variables such as moneyness, stock return, maturity, and volatility on the warrant mispricing. We selected 4 companies listed in Bursa Malaysia such as MHC Plantations Bhd, MKH Bhd, YFG Bhd, and UNISEM to investigate the mispricing of warrants. Subsequently, panel time series data employed with daily basis from 30 June 2010 until 30 June 2013. The Black-Scholes Option Pricing Model (BSOPM) used to determine the mispricing of warrant. Several panel data techniques employed in this study such as pooled-OLS, fixed effect model (FEM), and random effect model (REM). In turn, we found that FEM is well explained the determinants of warrant mispricing. Thus, empirical results suggest that moneyness, maturity, and volatility are positively and significantly explained the mispricing of warrant, while stock return does not give an impact toward the warrant mispricing. The BSOPM is consistently mispricing the warrant either in-the-money (ITM) or out-the money (OTM) warrants. The market is not efficient on the warrants traded for four companies observed

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Aris Munandar

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Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

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Kab. sleman,

Daerah istimewa yogyakarta

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Abstract

Abstract

Abstract

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Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Aris Munandar

Contact Email Aris Munandar

Phone +6282145485255

Journal Mail Official -

Editorial Address Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Aris Munandar

Contact Email
Aris Munandar

Phone
+6282145485255

Journal Mail Official
-

Editorial Address
Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA