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All Journal el-Jizya: Jurnal Ekonomi Islam JURISDICTIE Jurnal Hukum dan Syariah Ijtima'iyya: Journal of Muslim Society Research Jurnal Akuntansi dan Audit Syariah (JAAIS)
Prasetyo, Yoyok
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Arts Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Comparison of Risks, Returns and Performance Measurements of Sharia and Non-Sharia Mutual Funds in Indonesia Prasetyo, Yoyok; Athoillah, Mohamad Anton; Yusup, Deni Kamaludin
Ijtim?'iyya: Journal of Muslim Society Research Vol 4 No 2 (2019)
Publisher : Postgraduate Program, State Institute on Islamic Studies Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (634.33 KB) | DOI: 10.24090/ijtimaiyya.v4i2.3072

Abstract

Investment is a sacrifice to postpone current consumption by allocating a number of assets that are expected to earn benefits in the future. Islamic Sharia does not forbid Muslims to do it, even there is an indication that it is recommended. The main motivation is to be able to pay more alms in the future. One of investment instruments in Indonesia is Mutual Funds. Indonesia's predominantly Muslim population is one of the triggers for the development of sharia-based mutual funds. However, its development has not been as big as the existing potential market. One of the reasons is there is still a view in the community that sharia-based instruments provide lower returns than non-sharia. This study compares the risks and returns of mutual funds, between sharia and non-sharia based. Sampling of both used purposive sampling, where there were 6 sharia mutual funds and 8 non-sharia mutual funds. The study was conducted in 5 years. The results of the study were: (1) There was no significant difference between the risks of both; (2) There was no significant difference between the returns of both; (3) The performance of non-sharia mutual funds was more dominating than sharia mutual funds.
Perbandingan Risiko Dan Return Investasi Pada Indeks Lq 45 Dengan Indeks Jakarta Islamic Index (JII) Prasetyo, Yoyok
El-Jizya : Jurnal Ekonomi Islam Vol 6 No 2 (2018)
Publisher : Fakultas Ekonomi dan Bisnis Islam (FEBI), Institut Agama Islam Negeri (IAIN) Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24090/ej.v6i2.2043

Abstract

This study compares the risks and returns between the two indices in the Indonesian Stock Exchange (IDX), namely the LQ 45 Index and the Jakarta Islamic Index (JII). This research period, starting from January 2008 to December 2017. Based on the normality test, the results obtained that the risk data of the LQ 45 Index are normally distributed while the JII Index risk data is not normally distributed. So that a different test used non-parametric statistics, namely the Mann Whitney test. In this study, the results obtained that there is no significant difference in the risk of the LQ 45 index with the JII index. Whereas based on the normality test for LQ 45 Index return data and JII Index return obtained both data are normally distributed and homogeneous. So that the parametric statistics were used by the T test. And the results obtained that the LQ 45 index return also had no significant difference with the JII index. This is due to almost the same constituents / members of these two indices, or the occurrence of a strong slice between the two. Finally, it can be concluded that the risks and returns between the LQ 45 Index and the JII Index have no significant differences.
COMPARATIVE STUDY ON THE REGULATION OF SHARIA FINANCIAL TECHNOLOGY IN INDONESIA AND MALAYSIA Susilawati, Cucu; Sulaiman, Ahmad Azam; Abduh, Muhamad; Prasetyo, Yoyok; Athoillah, Mohamad Anton
Jurisdictie: Jurnal Hukum dan Syariah Vol 12, No 1 (2021): Jurisdictie
Publisher : Fakultas Syariah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/j.v12i1.12213

Abstract

Financial technology is a part of digital ecosystem which development is rapid and massive, so does the sharia fintech. However, conventional and sharia fintech are two different systems and should have each regulation. The problem is if sharia fintech regulations in Indonesia is appropriate. Then what about Malaysia which are considered successful in developing the sharia fintech. This study compares sharia fintech regulations in Indonesia and Malaysia. The aim is to find out the readiness of Indonesia and Malaysia in supporting the sharia fintech trend realized in the regulations. This is a qualitative research using books and academic articles as an addition to the literature and regulations as the analytical method. The results indicate that Indonesia and Malaysia try to accommodate sharia fintech regulations. Indonesia still uses The Financial Services Authority Regulation (POJK) and Bank Indonesia regulations, both of which do not meet the sharia principles. Meanwhile, Malaysia uses the 2013 Islamic Financial Services Act (IFSA), a law to regulate sharia compliance of the Islamic financial services sector, including the Sharia Fintech. In addition, Malaysia also has a Sharia Advisory Council as a supervisor for the Islamic financial services implementations. Malaysia’s and Indonesia’s regulations have yet answered the sharia fintech developments. Financial technology merupakan bagian dari ekosistem digital yang perkembangannya sangat pesat dan masif, tak terkecuali fintech syariah. Namun, fintech konvensional dan syariah adalah dua sistem yang berbeda dan seharusnya memiliki peraturan yang berbeda pula. Permasalahannya apakah regulasi fintech syariah di Indonesia sudah tepat apa belum, lalu bagaimana dengan regulasi di Malaysia yang dianggap berhasil mengembangkan fintech syariah. Tujuannya adalah untuk mengetahui sejauhmana kesiapan Indonesia dan Malaysia dalam mendukung trend fintech syariah dalam regulasi. Penelitian kualitatif ini menggunakan buku dan artikel akademis sebagai tambahan literatur dan peraturan sebagai metode analisis. Hasil penelitian menunjukkan bahwa Indonesia dan Malaysia sama-sama berusaha mengakomodasi regulasi. Indonesia masih menggunakan Peraturan Otoritas Jasa Keuangan dan Peraturan Bank Indonesia, dan belum memenuhi prinsip syariah. Malaysia menggunakan Islamic Financial Services Act (IFSA) 2013, sebuah Undang-Undang yang mengatur kepatuhan syariah dari sektor jasa keuangan Islam. Malaysia juga memiliki Dewan Pertimbangan Syariah sebagai pengawas pelaksanaan jasa keuangan Islam. Regulasi yang dimiliki oleh Malaysia dan Indonesia belum menjawab perkembangan fintech syariah.
Pengaruh Solvabilitas, Likuiditas, dan Profitabilitas terhadap Nilai Perusahaan Prasetyo, Yoyok; Ernawati, Nani; Hakim, Ahmad M Ryad S; Sugianto, Deris
Jurnal Akuntansi dan Audit Syariah (JAAiS) Vol 2 No 2 (2021): December 2021
Publisher : Jurusan Akuntansi Syariah Fakultas Ekonomi dan Bisnis Islam IAIN Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (335.943 KB) | DOI: 10.28918/jaais.v2i2.4838

Abstract

Corporate Value Is the investor's perception of the level of success of the company which is reflected in the stock price. The higher the value of the company, the greater the prosperity received by shareholders. This study aims to determine the effect of Solvency, Liquidity and Profitability on the Company Value of the property and real estate sector listed on the Indonesia Stock Exchange in the 2015-2019 Period. The population in this study are property and real estate sector companies listed on the Indonesia Stock Exchange in the 2015-2019 period, amounting to 75 companies. Based on the sampling technique with purposive sampling obtained a sample of 16 companies. Data collection techniques use the documentation of financial statements published on the official website of the Indonesia Stock Exchange, www.idx.co.id. The analysis technique used is panel regression. The results of this study indicate that: (1) Solvency is not impacted on firm value, with a significance value of 0,1008>0.05 (2) Liquidity is not impacted on Firm Value, with a significance of 0,5810>0.05 (3) Profitability is not impacted on Firm Value, with significance of 0,3354>0.05 (4) Solvency, Liquidity, and Profitability affect the Value of the Company with a probability of 0,000 with an R2 of 85,90%.
Co-Authors Ahmad Azam Sulaiman, Ahmad Azam Athoillah, Mohamad Anton Ernawati, Nani Hakim, Ahmad M Ryad S Kamaludin Yusup, Deni Muhamad Abduh Sugianto, Deris Susilawati, Cucu