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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 168 Documents

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Investment-Linked Takaful Plan Patronage: Evidence from Malaysia Tamiza Parveen; Siti Salwani Razali; Marhanum Che Mohd Salleh
Global Review of Islamic Economics and Business Vol 7, No 1 (2019)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Investment-linked Takaful is a recent innovation introduced in Malaysia. This study focuses on Investment-linked takaful plan selection in Malaysia. We have used a self-administered questionnaire to collect data from 143 respondents from the Klang Valley area. Data collected through the survey was analyzed through descriptive statistics, correlation and regression analysis. Results indicate that fee payment and benefits play a significant role in Takaful operator selection while coverage and benefits affect the investment-linked product selection in Malaysia. This study is unique as it provides empirical evidence on the investment-linked takaful investment which is limited in supply. Results provided by this study can be useful for takaful operators in designing the most appropriate investment-linked product for attracting customers.

The Consumption Behaviour of Muslim Students towards Halal Food in Yogyakarta Indonesia: A SEM Aproach Fauzan Husaini
Global Review of Islamic Economics and Business Vol 3, No 2 (2015)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Halal food is a strategic sector in Indonesia, because most of Indonesian are muslim and consumpting it is a must. This study aims to look at the main factors that influence consumption behavior of Muslim students in Yogyakarta toward halal food. In this study the analysis method used is Structural Equation Modeling (SEM) to verify the factors that determine the consumption behavior of Muslim students in DIY toward halal food. The data used is primary data derived from questionnaires with 188 respondents. The results showed that of five independent variable, only four which affect toward intention to buy halal food positively and significantly, namely religiosity factors, social factors, attitudes and perceived value, while the halal label does not affect the intention to buy halal food.

Socio-Economic Disclosure in Islamic Banking Case Study in Indonesia Atina Shofawati
Global Review of Islamic Economics and Business Vol 1, No 3 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Islamic Banking must give benefit for their stakeholders. Benefit reflects the performance of Islamic Banking which can be seen through their annual reports. One of important information which reflects the performance of Islamic Banking is socio-economicdisclosure. This report gives information about the performance of Islamic Banking which covers social and economic aspects which show the social economic responsibility of Islamic Banking. Socio-economic disclosure indicators have been taken from Corporate Social Performance which are the indicators consist of four parts, namely community involvement; human resources; natural resources and contribution to the environment; contribution to the product or service. This paper uses qualitative method. This research identifies the socioeconomic disclosure from annual report of Islamic Banking in Indonesia, majoring Bank Syariah Mandiri and Bank Muamalat Indonesia. The result of this paper shows that Bank Syariah Mandiri and Bank Muamalat Indonesia conduct social economic responsibility through socio-economic disclosure from annual report of both of the Islamic Banks in 2009.

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.

MARKET POWER AND EFFICIENCY OF ISLAMIC BANKING AND CONVENTIONAL BANKING IN INDONESIA Chajar Matari Fath Mala; Ahmad Rodoni; Bahrul Yaman
Global Review of Islamic Economics and Business Vol 6, No 2 (2018)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

ASEAN Economic Community (AEC) of banking industry requires both Islamic and conventional banking to improve their efficiency because the competition in banking market industry will be more intense. Therefore, this study aims to identify the type of hyphotesis of industrial organization which exists in Islamic and conventional banks in order to investigate their readiness for AEC. The research sampling consists of 10 Islamic banks and 10 conventional banks from January 2009 to December 2016. To measure x-efficiency and scale efficiency, this research uses Data Envelopment Analysis (DEA). Meanwhile, the concentration is measured by Lerner index. The hypothesis is tested by using panel regression. The result shows SCP (Structure-Conduct-Performance) hypothesis is closely applied to Islamic and conventional banks because market concentration significantly influences profitability. RMP (Relative Market Power) hypothesis is also closely applied to Islamic and conventional banking, this indicates Indonesian banking has market power in determining prices and this condition makes the profit higher. RES (Relative Efficiency Structure) and SES (Scale Efficiency Structure) hypothesis do not exist in both conventional and Islamic banks because x-efficiency and scale efficiency do not affect profitability, concentration, and market share simultaneously. Market power and efficiency researches are commonly conducted in conventional banking, however there are only a few research in Islamic banking area. The novelty of this study is the comparison between conventional and Islamic banking in the term of market structure and efficiency.

The Analysis of Factors Affecting Foreign Investment in Indonesia Nur Cahyaningsih
Global Review of Islamic Economics and Business Vol 3, No 1 (2015)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Foreign Direct Investment (FDI) has important role in Indonesian economic development and becomes the engine of growth for the economy. For all this reason, the government starts doing promotions attracting foreign investors to invest in Indonesia by issuing a number of policies. In fact, some foreign companies have left from Indonesia. This research aims at determining the effect of GDP, inflation, and infrastructure toward Foreign Direct Investment in Indonesia from 1981 until 2014. It uses time series data and Error Correction Model (ECM) as the method. Based on analysis findings, all variables used by stationary in first difference, dependent and independent variables in the equation of co-integrating regression has long-term relationship. In the short term, GDP and Infrastructure do not have a significant influence, while inflation has a negative influence and significant in α 5% toward Foreign Direct Investment. In the long term, GDP and Infrastructure have a positive effect and significant at α 5%, while inflation does not have a significant influence to Foreign Direct Investment in Indonesia.

Accounting Treatment for Unrestricted Investment Deposits and its Implication to Islamic Financial Institution M. Ghafur Wibowo; Joko Setyono; Kurnia Rahman Abadi
Global Review of Islamic Economics and Business Vol 1, No 2 (2013)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The objective of this paper is to analyze the accounting treatment for mudharabah especially for account unrestricted investment (mudharabah mutlaqoh) in practical side which has been appling in the current Islamic banking system. This paper also concerns on the impliaction of different accounting treatment to the islamic financial institution. This study finds that there two different accounting treatment for Unrestricted Mudharabah currently practised by Islamic banking, namely as liability and as different account between equity and liability. The two differents of accounting treatment for mudharabah investment account (UIAHS) will have some implication to Islamic banking, namely: Profit distribution, Capital Adequacy Ratio (CAR), Risk management and Capital structure. Based on IFSB Capital Adequacy Standard, in accounting treatment AAOFI standard, since the mudharabah Investment account has portion between liability and equity, thus the alpha maybe equal to 0.5. However, in case of Malaysia which is more based on IFRS which is treated this account as a liability, alpha is close to one (1). The different CAR also will have implication on the risk management that should be conducted by Islamic bank. Capital structure policy is another aspect that will be influenced by the different of accounting treatment of UIAHS. Hence, the accounting treatment of UIAHS on whether it will be treated as equity or liability will has direct effect on capital structure policy and some other aspect such as default risk, bankruptcy cost etc.

FORECASTING THE POTENTIAL ROLE OF CASH WAQF AS A ISLAMIC SOCIAL FUND IN ERADICATING POVERTY AND IMPROVING SOCIAL WELFARE: THE USE OF WEIGHTED MOVING AVERAGE METHOD Study at Special Region of Yogyakarta (DIY) Anggari Marya Kresnowati; Izra Berakon
Global Review of Islamic Economics and Business Vol 5, No 1 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

AbstractThis research investigates the role of cash waqf as a Islamic social fund in eradicating poverty in Special Region of Yogyakarta. Researchers combine both of quantitative and qualitative research methods (triangulation) to increase the perceived quality of research findings. To answer the problems, researchers employe three steps analysis, firstly forecasting with statistical approach using the weighted moving average method; secondly cash waqf simulation; and thirdly researchers propose The New Integrated Model Of Cash Waqf Information System. The results of this study has succesfully answered the progress of cash waqf, the support of stakeholders (government, financial institutions and society) to achieve target of cash waqf. Based on the forecasting moving average method, it can be seen that the collected fund of cash waqf is still very fluctuating in some future period following the trend of cash waqf fund before. In the simulation of cash waqf based on expenditure distribution at DIY , to reach the target of cash waqf in one year, for example in 2018, that is equal to Rp. 684,646,315.33, each household only spend about of Rp. 60,000 to Rp. 80,000 per year. If all Muslim societies especially at DIY have realized the importance of cash waqf, then the potential cash waqf cant be maximized and the flow of cash waqf returns can be distributed to strengthen the social pillars of the region such as poverty, hunger, health and eduaction. Keywords: cash waqf, eradicating poverty, forecasting, simulation, integrated model

Analysis the Effect of Macroeconomic Indicators and Specific-Firm Characteristic as Determinant Profitability of Islamic Banks in Asia Lupita Widyaningrum; Dodik Siswantoro
Global Review of Islamic Economics and Business Vol 2, No 2 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

: The purpose of this study is to examine the effect of macroeconomic indicators and specific-firm characteristics on the profitability of Islamic banks in Asia for period 2008-2012. Macroeconomic indicators using variables GDP growth and inflation, while the firm-specific characteristics using variables leverage, capitalization, operating expense, asset quality, number of branches, and firm size. Bank profitability measured by ROA and ROE. Research method using Ordinary Least Squares regression (OLS) to process the data types unbalanced panels and balanced panel. Unbalanced panel using sample of 42 Islamic banks with 188 observations, while on balanced panel using sample of 28 Islamic banks with 140 observations. The result of this research shows that capitalization, firm size, GDP growth, and inflation are determinants affecting ROA with positive and significant influence, while operating expense and leverage are significantly negative determinants that affect ROA. Asset quality and number of branches had no significant influence to ROA. The research also shows that determinant factors that affect ROE with positive and significant influence are captalization, number of branch, GDP growth, and inflation, while operating expense, and asset quality are determinants that affect significantly negative to ROE. Leverage and firm size don’t have significant influence to ROE. These results expected to be useful as a consideration material to improve the performance of Islamic banking, especially in Indonesia in order to compete with Islamic banking in Asia.

Best Choice for Investment-Islamic Equity or Sukuk? Akhmad Yusuf Khoiruddin
Global Review of Islamic Economics and Business Vol 4, No 1 (2016)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Islamic capital market is an important part in the development of Islamic economics especially in providing a mobilization of fund to the efficient economic source and provides liquidity to the Islamic finance institution such as Islamic bank etc. There are two main instrumens in Islamic capital market namely Islamic equity and sukuk. In investmet point of view, the raise question is what is the best choises of investment between islamic equity and sukuk. The objective of this research to describe the return and the risk profile of Islamic equity and sukuk in the world. Second, this paper will conduct study about the chance to arrange Islamic portfolio investment consist of two securities namely, sukuk and Islamic equity. To analyze this, researchers will use some tools in capital market theories including portfolio theory, minimum variance portfolio, Sharpe, Jansen, Treynor and RAP model. Thirdly, this paper will test the different level of return between Islamic equity and sukuk. The main instrument is statistical analysis, and SPSS. This research found that based on quantitative analysis Sukuk provides a better return as well as lower risk. However, in the short term, islamic equity is often provide a higher return than sukuk. From the several measurement tools, this research also finds that sukuk has a better performance than islamic equity. In contrast, statistical testing shows that there are no significance differences return between Islamic equity and sukuk from 2005 till 2010. Therefore, this research suggest that investor/peple who want to increase their wealth and prefer to invest in islamic capital market, they should make a islamic portfolio include some securities component, sukuk, islamic equity, islamic unit trust, islamic etf, etc.

Page 6 of 17 | Total Record : 168

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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

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Abstract

Abstract

Abstract

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