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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Journal of Islamic Monetary Economics and Finance Journal of Economics and Business Aseanomics Abdimas: Jurnal Pengabdian Masyarakat Universitas Merdeka Malang Journal orientasi bisnis dan entrepeneurship Airlangga International Journal of Islamic Economics and Finance
Shabrina Zusryn, Alyta
Fakultas Ekonomi Dan Bisnis, Universitas YARSI
Humanities Economics, Econometrics & Finance Other

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Hubungan Simultan Bank-Firm Relationship dan Kinerja pada Perusahaan Socially Responsible Investment (SRI) di Indonesia Zusryn, Alyta Shabrina; Innayah, Maulida Nurul; Sahulata, Hanastasya
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 9, No 2 (2020): Jurnal Ekonomi Bisnis dan Kewirausahaan
Publisher : Fakultas Ekonomi dan Bisnis, UNTAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26418/jebik.v9i2.40984

Abstract

A bank-firm relationship in the company occurs when the bank as a lender can obtain more extensive information from other parties. This study aims to examine the simultaneous relationship between bank-firm relationships and company performance. The sample in this study is non-financial socially responsible investment (SRI) firms listed on the SRI KEHATI index. The data analysis method uses two-stage least square (2SLS). The results of this study found that only multiple-bank relationships had a positive and significant effect on company performance. In addition, the company's performance also influences the company's decision to conduct multiple-bank relationships. These results indicate a simultaneous relationship between multiple-bank relationships and the performance of companies that implement socially responsible investment (SRI) in Indonesia. Multiple-bank relationships provide convenience to banks in monitoring companies. While other indicator such as company relations with foreign banks, domestic banks, the number of banks and the bank loan ratio (BLR) were not significant in the simultaneous relationship. The implication of this research is that a company can conduct multiple-bank relationships to diversify external funding sources, reduce credit constraints and reduce strategy failures.
Islamic financial literacy program in Generation Z Islamic senior high school students Zusryn, Alyta Shabrina; Rofi’i, Muhammad; Gani, Ariel Nian
Abdimas: Jurnal Pengabdian Masyarakat Universitas Merdeka Malang Vol 6, No 4 (2021): November 2021
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/abdimas.v6i4.5365

Abstract

Indonesia's population has been dominated by young and Muslim people in recent years. However, these conditions are not comparable to the Islamic financial literacy level in Indonesia, which is still low. Therefore, there is a need for early education for young people who are in high school. This activity aims to provide an introduction and knowledge of Islamic finance to generation Z, namely, Islamic Senior High School (MAN) 3 Jakarta students. In its implementation, this workshop used video and game crossword puzzles to educate MAN 3 Jakarta students about Islamic finance. The results of the evaluation of this activity show that after the workshop, the number of students who answered correctly in the aspect of Islamic financial literacy drastically increased. After the workshop, the number of students who knew of Islamic financial institutions also increased. On the intention side, there is an increase in students' attractiveness to Islamic financial products and services. Therefore, educational workshops on Islamic finance need to be developed and carried out on a large scale not only for high school students but also for students and the public.
ONLINE PAYMENT: INDIVIDUAL CHARACTERISTICS AND DIGITAL FINANCIAL INCLUSION IN OIC COUNTRIES Rizqi Umar Al Hashfi; Alyta Shabrina Zusryn; Novi Lailatul Khoirunnisa; Ammelia Rizza Fitri Ayu Listyowati
Journal of Islamic Monetary Economics and Finance Vol 6 No 4 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i4.1148

Abstract

Digital financial inclusion (DFI) is a prominent issue in the digital era, since it focuses on the use of technology to serve unbanked people at low cost. The adoption of mobile money platforms that allow users to make efficient peer-to-peer and real-time transactions is one aspect of the DFI agenda. This study aims to investigate the determinants of mobile money usage using data derived from the 2017 Global Financial Inclusion survey conducted by the World Bank and Gallup and applying probit regression and the Heckman selection model to check robustness. Even though access to a financial institution is relatively low, the percentage of mobile money usage in Organisation of Islamic Cooperation (OIC) countries is slightly higher than in non-OIC countries and worldwide. The rate of adoption of mobile money is higher for individuals making online transactions, with more educated and more prosperous males tending to be more included in the use of digital financial services. The U-shape hypothesis for the relationship between age and the use of mobile money is not supported. Our research contributes to the theoretical development of the Unified Theory of Acceptance and Use of Technology 2 in illustrating the use of mobile technology. The empirical results are recommended for use by practitioners, regulators and policymakers in creating and fostering a sound ecosystem for digital finance development.
Reaksi Investor Saham Syariah dan Konvensional terhadap Pengumuman Pembentukan Kabinet Indonesia Maju 2019 Ananta Hagabean Nasution; Alyta Shabrina Zusryn
Journal of Economics and Business Aseanomics (JEBA) Vol 5, No 1 (2020): Januari - Juni 2020
Publisher : Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (372.357 KB) | DOI: 10.33476/j.e.b.a.v5i1.1406

Abstract

Ketidakpastian politik sering menjadi peristiwa khusus yang berpengaruh terhadap return portofolio saham. Tujuan dari penelitian ini adalah untuk menguji pengaruh pengumuman pembentukan kabinet Indonesia Maju 2019-2024 terhadap harga saham yang terdaftar pada Indeks Syariah (ISSI) dan Indeks Harga Saham Gabungan (IHSG). Penelitian ini menggunakan metode event study untuk melihat adanya reaksi pasar yang dapat dilihat dari adanya abnormal return pada saham. Indikator yang digunakan adalah nilai average abnormal return (AAR) dan cumulative average abnormal return (CAAR). Hasil pada penelitian ini menunjukkan bahwa terdapat nilai AAR yang negatif dan signifikan pada sehari sebelum (t-1) dan setelah (t+1) pengumuman menteri pada indeks syariah dan pasar. Selain itu, terdapat perbedaan yang signifikan nilai cumulative average abnormal return (CAAR) sebelum dan sesudah pengumuman menteri pada t (-7,7) untuk portofolio ISSI dan t (-10,10) untuk portofolio IHSG. Adanya reaksi negatif invetor mengindikasikan terdapat kebingungan investor saham syariah terhadap menteri yang terpilih pada kabinet Indonesia Maju. Peristiwa ini diharapkan dapat membantu investor atau manajer investasi dalam menentukan strategi investasi pada saat terjadi ketidakpastian politik.
Pengaruh Sistem Perbankan, Makroekonomi, Dinamika Pasar Keuangan terhadap Perkembangan Sukuk Korporasi Alyta Shabrina Zusryn; Rizqi Umar Al Hashfi; Ananta Hagabean Nasution
Journal of Economics and Business Aseanomics (JEBA) Vol 4, No 2 (2019): Juli - Desember 2019
Publisher : Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (476.279 KB) | DOI: 10.33476/j.e.b.a.v4i2.1244

Abstract

Tujuan pada penelitian ini adalah untuk mengetahui faktor-faktor yang berpengaruh terhadap perkembangan sukuk korporasi di Indonesia. Data yang digunakan adalah data bulanan tahun 2013-2016 variabel makroekonomi, crude oil price, kredit perbankan konvensional, interest rate spread, aset perbankan syariah, outstanding obligasi korporasi indonesia, nilai kapitalisasi pasar saham syariah, dan standar deviasi Jakarta Interbank Offered Rate (JIBOR). Pada penelitian ini menggunakan analisis data time series yaitu Autoregressive Distributed Lag (ARDL) yang merupakan pengembangan dan melengkapi kelemahan dari analisis Vector Autoregresive (VAR). Penelitian ini menunjukkan bahwa terdapat pengaruh positif harga minyak mentah dunia, perkembangan obligasi korporasi, dan aset perbankan syariah terhadap perkembangan sukuk korporasi. Selain itu, kapitalisasi pasar saham syariah, interest rate spread, dan volatilitas suku bunga pasar berdampak negatif terhadap perkembangan sukuk korporasi. Hasil tersebut menunjukkan adanya peningkatan permintaan dan penawaran pada sukuk korporasi di Indonesia. Penelitian ini menemukan adanya hubungan komplementer pada obligasi korporasi dan perbankan syariah pada perkembangan sukuk korporasi sehingga diharapkan adanya sinergi dan koordinasi para pemangku kepentingan yaitu pemerintah, pelaku industri, perusahaan dan pihak-pihak terkait
CAUSE AND EFFECT ANALYSIS PENYALURAN KREDIT P2P LENDING PADA UMKM DI INDONESIA Alyta Shabrina Zusryn
Jurnal Orientasi Bisnis dan Entrepreneurship (JOBS) Vol 1, No 2 (2020): DESEMBER 2020
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jobs.v1i2.1689

Abstract

Pertumbuhan ekonomi nasional dipengaruhi oleh berkembangnya Usaha Mikro, Kecil, dan Menengah (UMKM). P2P Lending merupakan salah satu bentuk solusi pembiayaan berbasiskan teknologi bagi UMKM. Tujuan pada penelitian ini adalah menganalisis sebab dan dampak penyaluran kredit P2P lending pada UMKM. Analisis data pada penelitian ini menggunakan content analysis. Selain itu, pada penelitian ini melibatkan diagram “fishbone” untuk mendeskripsikan sebab dan dampak pada penyaluran kredit P2P lending. Hasil pada penelitian ini menunjukkan bahwa faktor-faktor yang menyebabkan lambatnya perkembangan kredit P2P lending pada UMKM di Indonesia adanya adanya risiko gagal bayar tinggi pada kredit P2P lending, masih banyak pelaku usaha yang unbankable, masih kurangnya kepercayaan investor, kurangnya kesiapan regulasi, dan kurangnya sosialisasi terkait lembaga penjaminan kredit. Oleh karena itu, solusi pada permasalahan tersebut adalah pembentukan kelompok peminjam dan adanya sistem simpanan rutin untuk membantu jika ada peserta yang gagal bayar. Selain itu diperlukan koordinasi antar lembaga pemerintahan dalam mempersiapkan regulasi terkait keamanan kegiatan bisnis P2P lending dan kerahasiaan data baik pada investor maupun peminjam.
EXPLORING ISLAMIC PEER-TO-PEER LENDING FOR THE UNBANKABLE Rizqi Umar Al-Hashfi; Alyta Shabrina Zusryn
Airlangga International Journal of Islamic Economics and Finance Vol. 2 No. 2 (2019): July-December 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v2i2.20648

Abstract

Increasing internet penetration and technology-savvy generation in Indonesia can be an opportunity for high-tech businesses. Those are driven by the significant growth in the number of borrowers and lenders at the peer-to-peer (P2P) marketplace that provides alternative funding for small and medium enterprises (SMEs). The presence of shariacompliant P2P providers offers alternatives for both borrowers and financiers who concern about Islamic values. Our work aims to discuss the role of sharia P2P lending on improving people's welfare in Indonesia. By observing 26 P2P platform providers, we conclude that the sharia P2P providers are the potential to be developed. The applications of Islamic value technological advancements, which are the prohibition of interest, transparency, and a sophisticated credit scoring system, enable the unbanked population to access financial service, especially lending. However, the sharia platforms do not offer the redemption mechanism for financiers who take their money back early. Therefore, we also propose an integrated scheme for sharia P2P platforms.
The Effect of Political Contestation on Investor Reaction: Evidence from Indonesia Sharia Stock Ananta Hagabean Nasution; Penny Rahmah Fadhillah; Alyta Shabrina Zusryn
Jurnal Orientasi Bisnis dan Entrepreneurship (JOBS) Vol 4, No 1 (2023): JUNI 2023
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jobs.v4i1.2505

Abstract

Political events can cause uncertainty in the business environment and affect stock returns. This study aims to examine the reaction of sharia stock investor to political events in 2019. Some previous studies found that the influence of political events in Indonesia on investors' reactions is not yet conclusive. Therefore, this research utilized five political events during the general election they are: candidates inauguration, candidates’ final debate, quick count announcement, Election Commission (KPU) announcement, Constitutional Court (MK) announcement. This research used cumulative average abnormal return (CAAR) and average abnormal return (AAR) values as indicators in detecting investor reactions and used actively traded stocks listed on the Indonesian Sharia Stock Index (ISSI) from 2017 to 2019. The results of this study indicate that there is a negative reaction on t-1 before the debate of candidates. Furthermore, the opposite results occurred during the announcement of the presidential election results conducted by the Election Commission (KPU). This result indicates that investors quickly get information about political uncertainty. The implication is that political events are one of the relevant event studies to determine sharia stock prices to investors.
Co-Authors Ammelia Rizza Fitri Ayu Listyowati Ananta Hagabean Nasution Ananta Hagabean Nasution Gani, Ariel Nian Maulida Nurul Innayah Novi Lailatul Khoirunnisa Penny Rahmah Fadhillah Rizqi Umar Al Hashfi Rizqi Umar Al Hashfi Rizqi Umar Al-Hashfi Rofi’i, Muhammad Sahulata, Hanastasya