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All Journal al-Uqud : Journal of Islamic Economics Ihtifaz: Journal of Islamic Economics, Finance, and Banking
Pantas, Pribawa E
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Economics, Econometrics & Finance Social Sciences

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Cointegration of Stock Market and Exchange Rate in Indonesia Pantas, Pribawa E; Ryandono, Muhamad Nafik Hadi; Munir, Misbahul; Wahyudi, Rofiul
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol 2, No 2 (2019)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1955.464 KB) | DOI: 10.12928/ijiefb.v2i2.886

Abstract

This study aims to determine the long-term relationship between stock market and exchange rate in Indonesia. The research method used is Johansen cointegration test. The results of this study found no cointegration between the variables tested. Thus the exchange rate, JII, and IHSG have no relationship in the long term. The fluctuation of the rupiah exchange rate in recent years did not generally affect the performance of stock indices especially after the global financial crisis of 2008. This shows the capital market in Indonesia has a good performance so that it is not so sensitive to the sentiment of the decline in the rupiah against the US dollar. This finding is in line with the findings of Syahrer (2010) which states the exchange rate has no effect on the stock market.
Islamic Banking Efficiency in Indonesia and Malaysia: Two Stages Data Envelopment Window Analysis Pantas, Pribawa E; Susetyohadi, Agus; Azwita, Laurin
al-Uqud : Journal of Islamic Economics Vol 5, No 2 (2021): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (385.999 KB) | DOI: 10.26740/al-uqud.v5n2.p%p

Abstract

This study aimed to evaluate the efficiency of Islamic banks in Indonesia and Malaysia and examine the determinants of their efficiency in 2015-2019 using a two-stage data development window analysis approach. The research involves 13 Indonesian Islamic banks and 16 Malaysian Islamic banks. The first test step using the Data Envelopment Window Analysis (DEWA) approach has shown that the Islamic Bank's efficiency in managing resources is inefficient. The second research process using the Tobit model shows that the Capital Adequacy Ratio (CAR), Return on Asset (ROA), Non-Performing Financing (NPF), and Deposit Ratio Financings (FDR) do not have a significant impact on the efficiency of Indonesian Islamic Banking. Though CAR has significant positive effects on banking efficiency in Malaysia, NPF has a significant impact on Malaysian Islamic banks' efficiency. This study implies that the banking industry players increase their efficiency, mainly to enhance the amount of finance directed more towards the production sector, to increase the Islamic banking industry's market share in both countries.
Co-Authors Azwita, Laurin Misbahul Munir Muhamad Nafik Hadi Ryandono, Muhamad Nafik Susetyohadi, Agus Wahyudi, Rofiul