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Comparative Analysis of Financial Performance of Firms Listed on the Jakarta Islamic Index Ariska, Ella; Batubara, Maryam; Syahriza, Rahmi
ISLAMICONOMIC: Jurnal Ekonomi Islam Vol 15, No 2 (2024): (Issue in Progress)
Publisher : Universitas Islam Negeri Sultan Maulana Hasanuddin Banten

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32678/ijei.v15i2.751

Abstract

In the context of evaluating company performance, both Economic Value Added (EVA) and Financial Value Added (FVA) provide a comprehensive measure that goes beyond traditional financial ratios, incorporating aspects of value creation for investors and stakeholders. This study aims to address the inconsistencies found in previous research by examining the performance of companies listed on the Jakarta Islamic Index (JII) using EVA and FVA methods. The research employs a quantitative descriptive approach, analyzing data from companies listed on the JII, accessible via the IDX.co.id website. The EVA analysis results for these companies reveal a positive significance, indicating that they are capable of delivering added value to investors. Similarly, the FVA analysis also shows a positive significance, suggesting that companies can enhance investor value, particularly through efficient management of depreciation expenses, which can increase the FVA value. A T-test was conducted to compare the financial performance using EVA and FVA methods, and the results indicate a significant difference between the two, suggesting that the variances are not the same. Both EVA and FVA calculations yield positive results, indicating strong financial performance for the companies analyzed. Notably, the FVA values are found to be greater than the EVA values, underscoring the potential for greater value creation from a financial standpoint. This study contributes to the understanding of how different performance measures can provide insights into company value creation, offering a more nuanced view of financial health for companies listed on the Jakarta Islamic Index.
The Influence of Islamic Insurance And Islamic Banks on Indonesia's Economic Growth For The Period 2016-2022 Batubara, Maryam; Andiyanto, Sakti
AL-FALAH : Journal of Islamic Economics Vol 8, No 2 (2023)
Publisher : Institut Agama Islam Negeri (IAIN) Curup

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29240/alfalah.v8i2.8210

Abstract

Purpose: The goal of this research is to discover and assess the impact of Islamic insurance and Islamic banks on economic growth. Examining the Impact of Islamic Insurance on Indonesian Economic Growth and the Impact of Islamic Banks on Indonesian Economic Growth. In this scenario, the research was carried out between 2016 and 2022.Design/Method/Approach: This is descriptive study using a quantitative research technique. With secondary data sources obtained from financial reports published by the Financial Services Authority (OJK), namely IKNB Sariah which contains financial reports for all sharia insurance and banking statistics for the 2016-2022 period. In this research, the population and sample are all monthly financial reports of Indonesian Sharia Insurance and sharia banking in quarterly form for the period 2016-2022. Economic growth is the research's dependent variable. Meanwhile, Sharia Insurance and Sharia Banking are the independent factors. This study's data will be examined utilizing research instrument testing, traditional assumption tests, multiple regression tests, and hypothesis tests.Findings: According to the partial test results, the Islamic insurance variable has no significant influence on economic growth in Indonesia for the 2016-2022 periods; however the Islamic banking variable has a positive and substantial effect on economic growth in Indonesia for the 2016-2022 periods. While the test findings between Islamic Insurance and Islamic Banks on Indonesian Economic Growth, the two data evaluated in this study combined have a substantial impact on economic growth.Originality/Value: This study adds value by examining the impact of Islamic Insurance and Islamic Banks to annual economic development in Indonesia from 2016 to 2022. Also as a fundamental study to see the opportunities and weaknesses of Islamic Insurance and Syraiah Banking in Indonesia, for Indonesia's economic growth.
Pengaruh Rasio Keuangan Terhadap Harga Saham Syariah pada PT. Akr Corporindo Batubara, Maryam; Yuni Lubis, Syafrina; wati, Patma
Rayah Al-Islam Vol 7 No 3 (2023): Rayah Al Islam Desember 2023
Publisher : Lembaga Penelitian dan Pengabdian Masyarakat, Sekolah Tinggi Ilmu Bahasa Arab Ar Raayah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37274/rais.v7i3.863

Abstract

Harga saham adalah harga suatu saham pada pasar yang sedang berlangsung di bursa efek yang terbentuk melalui mekanisme permintaan dan penawaran di pasar modal. Fluktuasi yang terjadi pada harga saham di PT. AKR Corporindo menyebabkan kondisi keuangan atau fundamental dari perusahaan tidak baik. Dimana faktor-faktor yang mempengaruhi harga saham yaitu Debt Equity Ratio, Earning per Share dan Book Value per Share. Penelitian ini merupakan penelitian kuantitatif dengan analisis data menggunakan SPSS versi 22. Pada penelitian ini menyimpulkan bahwa terdapat pengaruh Earning Per Share (EPS) terhadap harga saham secara parsial, tidak terdapat pengaruh Debt To Equity Ratio (DER) terhadap harga saham secara parsial, tidak terdapat pengaruh terhadap Book Value Per Share (BVS) terhadap harga saham secara parsial dan terdapat pengaruh Debt To Equity Ratio, Earning Per Share dan Book Value Per Share secara simultan terhadap harga saham secara simultan pada PT. Akr Corporindo Tbk Tahun 2014-2021. The share price is the price of a share on the ongoing market on the stock exchange which is formed through a supply and demand mechanism in the capital market. Fluctuations that occur in stock prices at PT. AKR Corporindo caused the financial condition or fundamentals of the company to not be good. Where are the factors that influence stock prices, namely Earning per Share, Debt Equity Ratio and Book Value per Share.This research is a quantitative research with data analysis using SPSS version 22. This study concluded there is an effect of Earning Per Share (EPS) on share prices partially, there is no effect of Debt To Equity Ratio (DER) on share prices partially, , there is no effect on Book Value Per Share (BVS) on share prices partially and there is the influence of Debt To Equity Ratio, Earning Per Share and Book Value Per Share simultaneously on stock prices simultaneously at PT. Akr Corporindo Tbk 2014-2021.
Dampak Covid-19 terhadap Perekonomian Masyarakat Ditinjau dari Perspektif Ekonomi Syariah Batubara, Yennika; Yafiz, Muhammad; Batubara, Maryam
Al-Tijary Vol 8 No 1 (2022): AL-TIJARY VOL. 8, NO. 1, DESEMBER 2022
Publisher : Faculty of Islamic Economics and Business Sultan Aji Muhammad Idris State Islamic University Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21093/at.v8i1.5636

Abstract

The Covid-19 pandemic has brought significant changes in social, political, and economic orders at various levels, causing a global recession marked by rising unemployment​​. The purpose of this study was to find out how big the impact of the covid-19 virus was on the economy of the people in the city of Medan, how did the people of the city of Medan anticipate being able to carry out their lives and how did the Medan city government take action to deal with the covid-19 virus. Data collection and retrieval was carried out by means of field research through observation and interviews with direct companies and obtained from respondents through questionnaires, focus groups, panels and data from the results of direct interviews with researchers with informants and direct observation of the object or company where the author conducted the research and analysed using triangulation technique. The findings show that economic growth which resulted in an almost recession and greatly decreased made all economic activists feel threatened by the spread of the pandemic, because it resulted in limited activities and unusual economic activity. Islamic economics guarantees private ownership but also prioritizes common interests. So that private property can be used to help many people and be of benefit to others. The downturn in the Indonesian people's economy has also resulted in several outlets, or companies causing bankruptcy, and even dismissals have occurred in various companies which have also resulted in unemployment everywhere. The article implies that the COVID-19 pandemic has significantly worsened the economic conditions in Medan, resulting in decreased income and increased unemployment, particularly in the MSME sector. This highlights the importance of implementing Sharia economic policies as a solution to enhance the welfare and economic resilience of the community by providing stronger support to the most affected sectors.
Influence Of Relocation, Infrastructure, And Islamic Business Ethics On Consumer Decisions In The New Market, Mandailing Natal District With Consumer Behavior As An Intervening Variable Nasution, Rizka; Batubara, Maryam; Rahmani, Nur Ahmadi Bi
Jurnal Ilmu Sosial Mamangan Vol 13, No 1 (2024): Jurnal Ilmu Sosial Mamangan Accredited 3 (SK Dirjen Ristek Dikti No. 158/E/KPT/
Publisher : LPPM Universitas PGRI Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22202/mamangan.v13i1.7777

Abstract

The aim of the research is to determine the direct and indirect influence of relocation, infrastructure and Islamic business ethics variables on consumer decisions at Pasar Baru Mandailing Natal Regency with consumer behavior as an intervening variable. This research method uses a quantitative approach with pathways and uses the SPSS version 22 program. This research uses a questionnaire with a sample of 400 respondents. The research results show that relocation partially influences consumer decisions, infrastructure does not partially influence consumer decisions, and Islamic business ethics partially influences consumer decisions. Furthermore, relocation, infrastructure and Islamic business ethics partially influence consumer behavior. From the results of the significance test, it was found that relocation had a significant and real effect on consumer decisions through consumer behavior. And for the infrastructure variable, Islamic business ethics also significantly influences consumer decisions through consumer behavior with a confidence level of 95% or an error rate of 5%.
Pengaruh Pengambilan Keputusan Investasi Dan Kelayakan Investasi Saham Pada Perbankan Syariah Di Bursa Efek Indonesia Oktadistira, Muhammad Feri; Batubara, Maryam; Nasution, Muhammad Lathief Ilhamy
JURNAL EKONOMI, MANAJEMEN, BISNIS, DAN SOSIAL (EMBISS) Vol. 3 No. 3 (2023): Mei 2023
Publisher : CV ODIS

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Abstract

The type of data used is Secondary Data which is obtained from monthly BRIS Stock Price Movement Data on the Indonesia Stock Exchange. There were 43 samples in this study. The results showed that partially the investment decision had a significant positive effect on CAPM with tcount > ttable (2.774>1.684) and a significant value of (0.017<0.05). Partially, investment feasibility has a significant negative effect on CAPM with a tcount > ttable (2.495<1.684) and a significant value of (0.008<0.05). Simultaneously Investment Decisions and Investment Feasibility have a significant effect on CAPM. With a significant value of (specify) the value of Fcount > Ftable, namely (3.868> 3.23). While the value of the coefficient of determination is 78%.
Pengaruh Kualitas Pelayanan terhadap Loyalitas Nasabah dengan Menggunakan Metode Importance Performance Analysis (IPA) (Studi Bank Muamalat KCU Medan Baru Iskandar Muda) Hsb, Rahmad Raja Martua; Batubara, Maryam
Jurnal Pendidikan Tambusai Vol. 7 No. 3 (2023): Desember 2023
Publisher : LPPM Universitas Pahlawan Tuanku Tambusai, Riau, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/jptam.v7i3.11869

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh kualitas pelayanan terhadap loyalitas nasabah dengan menggunakan metode importance performance analysis. Penelitian ini menggunakan metode penelitian kuantitatif dengan pengumpulan data menggunakan daftar pertanyaan (kuesioner). Subjek penelitian ini adalah nasabah dari Bank Muamalat KCU Medan Baru yang berjumlah 100 sampel, Teknik analisis data pada penelitian ini menggunakan metode Importance Performance Analysis dan juga menggunakan program IBM SPSS statistic 25. Hasil penelitian menunjukkan berdasarkan hasil interpretasi dari diagram kartesius terdapat beberapa kuadran A,B,C dan D yang dimana pada Kuadran A terdapat 2 atribut yang menjadi prioritas utama dan harus ditingkatkan kinerjanya, pada Kuadran B terdapat 3 atribut yang sudah berhasil dilaksanakan perusahaan dan wajib dipertahankan, pada Kuadran C terdapat 5 atribut yang kurang penting pengaruhnya bagi nasabah, pada Kuadran D terdapat 5 atribut yang dianggap tidak terlalu penting oleh nasabah
Dampak Kebijakan Moneter Islam terhadap Stabilitas Harga dan Inflasi Rahma, Aulia; Rangkuti, Laila Rahmayuni; Najiyah, Chindy Jihan; Batubara, Maryam
Jurnal Pendidikan Tambusai Vol. 8 No. 2 (2024)
Publisher : LPPM Universitas Pahlawan Tuanku Tambusai, Riau, Indonesia

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Abstract

Manajemen ekonomi nasional terutama bergantung pada kebijakan moneter. Namun, keragaman sistem ekonomi saat ini akan menyebabkan perspektif kebijakan moneter yang berbeda. Tujuan ekonomi moneter Islam ialah untuk mempromosikan keadilan dan masyarakat amal. Studi ini memeriksa efek kebijakan moneter Islam pada stabilitas harga dan inflasi. Studi berikut menggunakan kajian literatur (Library Research). Semua penjelasan tentang subjek penelitian bersifat deskriptif dan telah dikumpulkan dari berbagai sumber bibliografis. Metode dekomentasi digunakan untuk mengumpulkan data, dan sumber data yang digunakan ialah data sekunder, yang merupakan informasi yang dapat dibaca atau digunakan untuk memikirkan studi, seperti jurnal, buku, bacaan online, dan referensi bibliografi. Hasil penelitian ialah (1). Sektor riil didukung oleh kebijakan moneter syariah. Agar sampai pada maksud yang dituju, uang dan lembaga perbankan harus digunakan untuk mencapai tujuan itu. Chapra mengklaim bahwa kebijakan moneter bermaksud agar menciptakan sosioekonomi Islam. Dengan implementasi kebijakan moneter syariah ini, diharapkan akan mempertahankan inflasi pada tingkat moderat. Karena uang fiat ialah sumber inflasi utama, akan selalu ada masalah inflasi, apakah ekonomi kapitalis atau Islam. (3). Diperkirakan bahwa dampak kebijakan moneter syariah akan cukup untuk menjaga inflasi pada tingkat moderat. Karena selalu ada inflasi dengan mata uang fiat, terlepas dari ekonomi kapitalis atau Islam.
Analisis Kepercayaan terhadap Perbankan Nasution, Hastiani; Fakhri, Muhammad Hafizhan; Jambak, Putri Andriani; Batubara, Maryam
Jurnal Pendidikan Tambusai Vol. 8 No. 2 (2024)
Publisher : LPPM Universitas Pahlawan Tuanku Tambusai, Riau, Indonesia

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Abstract

Tujuan penelitian berupa untuk menganalisis percayaan terhadap perbankan di Indonesia. Penelitian ini menggunakan penelitian deskriptif pendekatan kualitatif. Krisis kepercayaan muncul ketika masyarakat merasa dana dan kepentingan mereka di bank tidak lagi terjamin dan aman. Kepercayaan adalah modal utama bagi industri perbankan. Dampak krisis terhadap kepercayaan perbankan berupa penarikan dana besar-besaran, penurunan investasi, penurunan pertumbuhan ekonomi dan laju inflasi yang tinggi. Cara menanggulangi krisis terhadap kepercayaan perbankan oleh pemerintah yaitu Menjaga stabilitas sistem keuangan,memperkuat pengawasan perbankan. Kebijakan pemerintah dalam menanggulangi kejadian moneter pada krisis kepercayaan perbankan: menyediakan likuiditas darurat bagi bank. Cara penanggulangan kejadian moneter pada krisis kepercayaan perbankan dalam konteks ekonomi Islam: memaksimalkan penghimpunan zakat , mengenakan biaya atas dana yang menganggur, menggunakan prinsip bagi hasil pada setiap transaksi atau segala jenis usaha dan meninggalkan bunga. Kebijakan pemerintah dalam pandangan ekonomi Islam terkait penyebab kejadian moneter pada krisis kepercayaan perbankan. Kebijakan yang dapat dilakukan pemerintah berdasarkan perspektif ekonomi Islam ialah dengan memperhatikan beberapa aspek–aspek berikut: Kesejahteraan ekonomi dengan kesempatan kerja penuh dan laju pertumbuhan “Optimal”, keadilan sosial ekonomi dan distribusi pendapatan dan kekayaan yang merata, stabilitas nilai uang.
Mengurai Bahaya Pinjaman Online Illegal Dalam Perspektif Ekonomi Syariah Nasution, Rizka; Adlia Yuannisa, Rizka; Batubara, Maryam
Jurnal Sains dan Teknologi Vol. 5 No. 3 (2024): Jurnal Sains Dan Teknologi
Publisher : CV. Utility Project Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55338/saintek.v5i3.2685

Abstract

Pinjaman online ilegal telah menjadi masalah yang meresahkan masyarakat, terutama dalam konteks ekonomi syariah. Penelitian ini bertujuan untuk mengungkap bahaya pinjaman online ilegal dalam perspektif ekonomi syariah. Metode penelitian yang digunakan adalah analisis deskriptif dan kualitatif berdasarkan literatur terkait. Hasil penelitian menunjukkan bahwa pinjaman online ilegal dapat menimbulkan dampak negatif yang signifikan, seperti tingginya tingkat bunga, praktik pemindaian yang tidak etis, dan potensi pelanggaran prinsip ekonomi syariah. Oleh karena itu, perlindungan konsumen dan penegakan hukum terhadap pinjaman online ilegal perlu diperkuat dalam kerangka ekonomi syariah. Penelitian ini diharapkan dapat memberikan kontribusi dalam upaya mitigasi bahaya pinjaman online ilegal dan pengembangan sistem keuangan yang sesuai dengan prinsip ekonomi syariah.