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All Journal IQTISHODUNA El Dinar I-ECONOMICS: A Research Journal on Islamic Economics Iqtishoduna: Jurnal Ekonomi Islam BISEI: Jurnal Bisnis dan Ekonomi Islam Journal of Enterprise and Development (JED) Jurnal Cendekia Keuangan Maliki Islamic Economics Journal Commodities, Journal of Economic and Business Al-Infaq: Jurnal Ekonomi Islam
Wardana, Guntur Kusuma
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Religion Economics, Econometrics & Finance Social Sciences Other

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THE EFFECT OF FINANCIAL PERFORMANCE AND DIVIDEND POLICY ON CUMULATIVE ABNORMAL RETURN Rahayu, Yayuk Sri; Wardana, Guntur Kusuma
El Dinar: Jurnal Keuangan dan Perbankan Syariah Vol 9, No 1 (2021): El Dinar
Publisher : Faculty of Economics Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/ed.v9i1.11453

Abstract

The purpose of this study was to determine the effect of financial performance and dividend policy on Cumulative Abnormal Return for company shares in Jakarta Islamic Index. The population was all company stocks listed on The Jakarta Islamic Index from 2009 to 2018. The samples were selected by purposive sampling with the criteria the companies were consistently included in JII (not delisted and relisted) during the 2009-2018 period and those that met the criteria were five companies. Financial performance was proxies by Earning per Share, Price Earnings Ratio, Current Ratio, and Return on Equity. Meanwhile, dividend policy was proxies by the Dividend Payout Ratio. This research type was quantitative by using the panel data regression method. The results showed that Earning per Share effect on Cumulative Abnormal Return, while the Price Earnings Ratio, Current Ratio, Return On Equity and Dividend Payout Ratio variables had no effect on Cumulative Abnormal Return. The implications of this research for other parties consists of scientific development, especially in the field of financial management, and can be an input for investors in investing in shares on the Indonesia Stock Exchange (IDX) so that it can have a positive impact in the form of dividends or capital gains to investors. And can be used as a reference for further researchers by adding other variables that are not included in this study.
Analisis Tingkat Kesehatan dan Ukuran Perusahaan Terhadap Pertumbuhan Laba Bank Umum Syariah di Indonesia Qothrunnada, Qothrunnada; Wardana, Guntur Kusuma
Bisei : Jurnal Bisnis dan Ekonomi Islam Vol 6 No 2 (2021): Desember
Publisher : Fakultas Ekonomi, Universitas Hasyim Asy'ari Tebuireng Jombang

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Abstract

The purpose of the study was to determine the effect of the level of soundness and company size partially and simultaneously on the profit growth of Islamic Commercial Banks in Indonesia in 2016-2020. The population in the study was 14 Islamic Commercial Banks in Indonesia in 2016-2020 which were registered with the Financial Services Authority (OJK), using a purposive sampling technique there were 12 banks that became the research sample. The analytical method used is multiple linear regression analysis using Eviews10. The results show that Non-Performing Financing (NPF), Financing to Deposit Ratio (FDR), Good Corporate Governance (GCG), Capital Adequacy Ratio (CAR), and company size partially have no significant effect on profit growth at Islamic Commercial Banks in Indonesia. the 2016-2020 period, while the Return on Assets (ROA) partially has a significant effect on profit growth. Simultaneously Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), Good Corporate Governance (GCG), Return On Assets (ROA), Capital Adequacy Ratio (CAR), and company size have a significant effect on profit growth. Keywords: Health Level, Company Size, and Profit Growth
PENGARUH DPK, PEMBIAYAAN MUDHARABAH, NPF TERHADAP ROA BANK UMUM SYARIAH DI INDONESIA Hodi, Hodi; Wardana, Guntur Kusuma
I-Economics Vol 9 No 2 (2023): I-ECONOMICS: A Research Journal on Islamic Economics
Publisher : Islamic Economics Program, Faculty of Islamic Economics and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19109/ieconomics.v9i2.19720

Abstract

In Islamic banks, one of the indicators commonly used to assess the bank's health is its own financial report. Information obtained from financial reports can be used to calculate various financial ratios, often serving as the basis for evaluating a bank's health. Several factors affect profitability in Islamic banks, sourced from the different profitability indicators generated by various performance metrics. This is because third-party funds (DPK) and Mudharabah financing, when increasing, contribute to the increase in the Return on Assets (ROA). This is due to the fact that an increase in customer deposits gathered by Islamic banks will enhance the efforts of the Islamic bank in generating profitability. On the other hand, if non-performing financing (NPF) increases, the ROA will decrease. This is because the non-acceptance of disbursed funds contributes to the decline in ROA. The research aims to investigate the partial and simultaneous effects of DPK, Mudharabah financing, and NPF on ROA. The research methodology employed is quantitative with a causal approach. Using purposive sampling technique, five Islamic commercial banks were selected as the research sample for the period 2017 to 2022. The analysis utilized panel data regression analysis through Eviews12. The results indicate that DPK and Mudharabah financing, individually, do not have a significant partial impact on the ROA of Islamic commercial banks. However, NPF has a significant partial effect on the ROA of Islamic commercial banks. Furthermore, when considered collectively, DPK, Mudharabah financing, and NPF have a significant simultaneous impact on the ROA of Islamic commercial banks.
Profitabilitas unit usaha syariah dipengaruhi non performing financing, financing to deposit ratio, office channeling dan inflasi Susiana, Susiana; Hafizi, Muhammad Riza; Asianingrum, Al Hujjah; Wardana, Guntur Kusuma
Jurnal Cendekia Keuangan Vol 3 No 2 (2024): Oktober
Publisher : Universitas Islam Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32503/jck.v3i2.5197

Abstract

Unit usaha syariah atau UUS adalah unit usaha yang dibentuk oleh bank konvensional yang dalam kegiatan usahanya berdasarkan pada prinsip syariah, melalui sistem perbankan ganda (dual banking system). Ditemukan beberapa penelitian mengenai profitabilitas UUS dengan hasil yang berbeda dan periode sebelum tahun 2022. Sehingga perlu adanya pembaharuan dan keberlanjutan. Penelitian ini bertujuan untuk mengetahui pengaruh Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), Office Channeling, dan inflasi terhadap profitabilitas unit usaha syariah. Metode penelitian ini adalah kuantitatif dengan jenis penelitian ex post facto. Populasi dalam penelitian ini adalah seluruh laporan keuangan unit usaha syariah yang terdaftar di Otoritas Jasa Keuangan (OJK). Sampel yang digunakan sebesar 26 data periode April 2020-Mei 2022, teknik pengambilan sampel dilakukan dengan menggunakan metode purposive sampling. Hasil penelitian menunjukkan bahwa NPF tidak berpengaruh terhadap profitabilitas unit usaha syariah. FDR tidak berpengaruh terhadap profitabilitas unit usaha syariah. Office channeling berpengaruh positif terhadap profitabilitas unit usaha syariah. Inflasi tidak berpengaruh terhadap profitabilitas unit usaha syariah. NPF, FDR, Office channeling dan inflasi secara bersama-sama berpengaruh terhadap profitabilitas unit usaha syariah.
Determinants of Islamic banks’ firm value: empirical evidence from IFSB member countries Fitriyah, Vindi Nur; Wardana, Guntur Kusuma
Journal of Enterprise and Development (JED) Vol. 5 No. Special-Issue-1 (2023)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri (UIN) Mataram

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Abstract

Purpose — The purpose of this research is to determine the effect of profitability, debt policy, dividend policy and capital structure on the firm value of Islamic banks.  Method — The population in this study consisted members of Islamic Financial Service Board (IFSB) period 2022, totaling 188 Islamic Financial Institutions. Using the purposive sampling technique, there was 18 Islamic banks that used as a samples with a quarterly time series data from 2021 until 2022. The data used was secondary and analyzed by panel data regression with Eviews10.Result — The results show that partially profitability, dividend policy and capital structure has significant effect on firm value of Islamic banks, but debt policy has no significant effect on firm value of Islamic banks. Meanwhile, simultaneously profitability, debt policy, dividend policy and capital structure have a significant effect on firm value of Islamic banks.Contribution — The main contribution of this research is particular to the firm value literature of Islamic banks, which is useful as a reference and investment decision making for third parties.
Determinant of Islamic Banks on the World Capital Structure Wardana, Guntur Kusuma; Noer Aisyah Barlian
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 11 No. 2 (2022): October
Publisher : Program Studi Ekonomi Islam Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (305.278 KB) | DOI: 10.54471/iqtishoduna.v11i2.1874

Abstract

Economic competition is increasing nationally and even globally. This encourages leaders of the banking industry to develop strategies, achieve the vision and mission, then make policies and activity programs that support banking achievements. Generally, there are various factors that can affect the capital structure; including bank size, profitability and asset growth. The purpose of the study is to determine the influence of bank size, profitability and asset growth on the capital structure of Islamic banking in the world partially and simultaneously. Sample of this studi is 18 Islamic banks in the world has gain by purposive sampling method. The results represent that bank size and asset growth had a significant positive effect on the capital structure. ROA had a significant negative effect on the capital structure then ROE and PER did not have a significant effect on the capital structure of Islamic banks in the world. Simultaneously, bank size, ROA, ROE, PER and asset growth have a significant effect on the capital structure of Islamic banks in the world.
Determination of Firm Value with Dividend Policy as Moderation Variable: Evidence Islamic Banking in the World Shoumi, Indah Nur Hikmatus; Wardana, Guntur Kusuma
Maliki Islamic Economics Journal Vol 4, No 1 (2024): Maliki Islamic Economics Journal
Publisher : Faculty of Economics UIN Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/miec.v4i1.26956

Abstract

Islamic banking is a company sector that dominates the global Islamic economic industry. To hold it, Islamic banking has to do a lot. One of which is to grow the value of the company. This research aims to identify factors that have an effect on company value in Islamic banking companies in the world. The company value factors studied are profitability (ROE), leverage (DER), company size, and dividend policy (DPR) as moderating variables. To determine the sample, researchers used purposive sampling by selecting 20 Islamic banks registered with the Islamic Financial Service Board (IFSB). Descriptive statistical analysis and moderated regression analysis are used as analysis methods. The results of this research show that profitability and company size have a significant effect on the value of Islamic banking companies. Leverage does not have a significant effect on the price of Islamic banking agencies. Dividend policy as a moderating variable does now not show significant results so it cannot moderate the connection between profitability, leverage and company size on the value of Islamic banking firms. Simultaneously, the variables profitability, leverage, firm size and dividend policy significantly impact the value of Islamic banking companies.
Profitabilitas: Struktur Modal, Kebijakan Dividen, Nilai Bank dan Ukuran Bank Perbankan Syariah di Dunia Fitriyah, Fitriyah; Wardana, Guntur Kusuma; Handayati, Puji; Maharani, Satia Nur
IQTISHODUNA IQTISHODUNA (Vol. 20, No. 1, 2024)
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/iq.v20i1.26445

Abstract

Penelitian ini bertujuan untuk mengkaji pengaruh struktur modal, kebijakan dividen, nilai bank, dan ukuran bank terhadap profitabilitas perbankan syariah secara global. Dengan pendekatan kuantitatif dan jenis penelitian explanatory, data dikumpulkan dari 20 bank syariah di 11 negara yang tergabung dalam Islamic Financial Services Board (IFSB). Analisis menggunakan regresi data panel dengan model fixed effect (FEM) berdasarkan hasil uji Chow dan Hausman. Temuan penelitian menunjukkan bahwa struktur modal, nilai bank, dan ukuran bank berpengaruh signifikan terhadap profitabilitas, sedangkan kebijakan dividen memiliki pengaruh yang tidak signifikan. Secara spesifik, struktur modal yang optimal dan ukuran bank yang lebih besar berkontribusi positif terhadap profitabilitas, sementara nilai bank yang tinggi berdampak negatif pada profitabilitas. Hasil ini menekankan pentingnya pengelolaan modal yang bijak, strategi pertumbuhan, dan pengelolaan ekspektasi pasar bagi bank syariah untuk meningkatkan kinerja keuangan dan daya saing mereka di industri perbankan global dengan tetap mematuhi prinsip-prinsip syariah.
PENGARUH TINGKAT INFLASI, DEBT TO EQUITY RATIO DAN RETURN ON EQUITY TERHADAP HARGA SAHAM Astriana, Chusnul; Widodo, Eko; Wardana, Guntur Kusuma; Ratih, Dian
Commodities, Journal of Economic and Business Vol 3 No 3 (2023): January 2023
Publisher : FKDP (Forum Komunikasi Dosen Peneliti)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59689/commo.v3i3.879

Abstract

This thesis aims to determine the effect of inflation rate, debt to equity ratio, return on equity to stock prices of property services sector property and real estate. The study was conducted at IDIS Investment Gallery of UNISKA by using secondary data. The population in this study as many as 48 companies then set sample in this study as many as 7 companies Property and Real Estate listed on the BEI period 2014-2016 which has been selected using purposive sampling method by using several criteria in taking samples. The data analysis technique used in this research is classical assumption test consisting of normality test, multicolinearity test, heteroscedasticity test and autocorrelation test, then test multiple linier regression analysis and use hypothesis test consisting of coefficient of determination test, t-test test ( partially), F-test (collectively). The result of research stated that with regression equation that Y = 7,821,482-1,735,657X1 + 1,176,411X2 + 532,696X3 can be concluded partially inflation rate have negative and significant effect to stock price with t value equal to -2,429 and significance value <0, 05 equal to 0,027, debt to equity ratio partially positive and not significant to stock price with t value equal to 0,3999 and significance value> 0,05 equal to 0,695 and return on equity partially have positive and significant effect to share price with value t count of 4.257 and significance value <0.05 of 0.001. Together the rate of inflation, debt to equity ratio and return on equity effect on stock prices with F arithmetic of 8.160 and significance value <0.05 of 0.001.
ANALYSIS COMPARATIVE OF ISLAMIC BANKING HEALTH LEVELS IN ASIA USING RGEC METHOD Wijaya, Ahmad Mada; Wardana, Guntur Kusuma
Al-Infaq: Jurnal Ekonomi Islam Al-Infaq: Jurnal Ekonomi Islam, Vol. 15, No. 1 (2024)
Publisher : Fakultas Agama Islam Universitas Ibn Khaldun Bogor, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32507/ajei.v1i1.2765

Abstract

This research aims to compare the health levels of Sharia banks in Asia over the period 2017-2022 using the RGEC method, considering the factors of Risk Profile, Good Corporate Governance, Earnings, and Capital. Financial ratios used to assess bank health include risk profile using 2 ratios namely NPF and FDR, GCG factor using self-assessment, Earnings using 4 ratios namely ROA, ROE, BOPO, and capital factors including the CAR ratio. The type of research used is quantitative descriptive research. The data obtained are secondary data in the form of annual financial reports of the companies. The research results show significant differences in the health of Sharia banks in Asia measured using the RGEC method. Sharia Banks categorized as "Very Healthy" are Al Rajhi Bank, Dubai Islamic Bank, Qatar Islamic Bank, Maybank Islamic Berhad, and Ziraat Katilim Bankansi. While Sharia banks categorized as "Healthy" are Boubyan Islamic Bank, Bank Pasargad Iran, Al Salam Islamic Bank, and Islamic Bank Limited. Then the Sharia banking categorized as "Fairly Healthy" is Bank Muamalat Indonesia.
Co-Authors Asianingrum, Al Hujjah Astriana, Chusnul Eko Widodo Fitriyah Fitriyah Fitriyah, Vindi Nur Hafizi, Muhammad Riza Hodi, Hodi Maharani, Satia Nur Noer Aisyah Barlian Puji Handayati, Puji Qothrunnada, Qothrunnada Ratih, Dian Shoumi, Indah Nur Hikmatus Susiana Susiana Wijaya, Ahmad Mada Yayuk Sri Rahayu