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The Doctrine of Khiyar al-Ayb in Protecting the Customer’s Rights Faizah Syihab
Akademika: Jurnal Keagamaan dan Pendidikan Vol 12, No 1 (2016)
Publisher : STAIN Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (780.317 KB)

Abstract

Khiyar is a theory of option in Islamic Law of Mu`amalat which made upon protecting the right of related parties in transaction. While, Khiyar Al-`Ayb is one of the components which highlights the caption on option due to defects which give the party at the deficient place or buyers an option to not obliged to the contract as might cause an offend or oppress to them. It is deemed as an important provision to enclose together in the contract term to exercise the Khiyar Al-‘Ayb as the natural right of the buying party. This paper attempts to address challenges endure and its prospects through this doctrine of option in realizing it in today immense transaction. Furthermore, there are some example cases in the real practice which before and after the practicing of Khiyar Al-`Ayb in the stipulated contract terms and condition.
Kinerja Perusahaan Sektor Pelayanan Jasa Bandar Udara Rizka Ramayanti; Faizah Syihab
Jurnal Manajemen Transportasi & Logistik (JMTRANSLOG) Vol 6, No 1 (2019): MARET
Publisher : Institut Transportasi dan Logistik Trisakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54324/j.mtl.v6i1.301

Abstract

Economic Value Added (EVA) is formulated by Net income (Operating Profit after deducting tax), minus with the total cost of capital for the current year. This study aims to examine PT (Persero) Angkasa Pura II performances’ with EVA. The data is taken from 2015 to 2017. This study uses secondary data taken from the site of the company PT (Persero) Angkasa Pura II. The data is analyzed descriptively. The company's performance is calculated from Annual Report such as income statement, balance sheet and note to financial statement. Data Collection Procedure is the data of companies’ financial statements taken from the PT (Persero) Angkasa Pura II website as well as obtained from www.idx.co.id. The EVA result of this study indicates that the financial performance of PT (Persero) Angkasa Pura II in 2015 and 2017 is Rp. 246,088,298,072 and Rp. 295,797,566,500 or positive value. This means it can be interpreted that the company has a healthy performance in accomplishing the shareholders expectations and lenders. In contrary, the financial performance of PT (Persero) Angkasa Pura II in 2016 using EVA gives a value of Rp. - 75,766,762,046 or negative value which means that the company has an unhealthy performance in 2016 in achieving their expectations.
How fast do Indonesian firms in achieving targeted capital structure? Faizah Syihab
Al Tijarah Vol 4, No 2 (2018): Desember 2018
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (358.951 KB) | DOI: 10.21111/tijarah.v4i2.2824

Abstract

Achieving the optimal capital structure are to ensure funds are always available to finance firm’s operations, minimize the cost of capital, to decide on how much to borrow, who or where, when, for how long or in what currency. The mixture of different sources of financing that firm chooses, will affect the value of firms and risk-return to shareholders as debt and equity has its own characteristics. This study expects to give better assessment on how fast is the speed adjustment to achieve the targeted capital structure in Indonesia public listed firm from the period of 2006-2016 using the Generalized Method of Moments (GMM) approach. In this study, the estimated coefficient of the lagged leverage (0.6134) implies that the firm is under-adjust due the coefficient below the target requirement which is less than one and greater than zero. This means that the firms maintain 61.34% of the debt that they have last year and change by 38.66% toward its target leverage. Result depicts that the estimated coefficient of the lagged dependent variables is significant at 1% level. This significant result indicates the existence of target capital structure and firms do make adjustment to long run targets (optimal debt ratio).
SIGNAL REACTION OF MICRO AND MACRO VARIABLE TO COMPANY STOCK RETURN Endah Sri Rahmawati; Faizah Syihab
REMITTANCE: JURNAL AKUNTANSI KEUANGAN DAN PERBANKAN Vol 3, No 1 (2022): REMITTANCE JUNI 2022
Publisher : Institut Teknologi dan Bisnis Swadharma

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56486/remittance.vol3no1.209

Abstract

This study aims to find out the effect of variable micro and macro variables of companies with linkages signaling theory on stock returns. This study uses panel data models. This study focused company Basic and Chemical Industry sector listed in Indonesia Stock Exchange 2011-2017 period, in which the selection of samples in this study using purposive sampling method as many as 21 companies. The results of this study showed R2 value of 60.09%. The results of this study showed that variables Trade Volume Stocks (VPS), Volatility of Stock Price (VPS), Company Size (SF), Profitability (PROF), Solvency (SOLV), Inflation (CPI), and Exchange Rate (EXCRATE) simultaneously influence Company Stock Return. There are three variables that partial effect on stock returns is Stock Price Volatility (VPS), Profitability (PROF), and Inflation (CPI). Based on these results, the company is advised to observe micro and macro variables that have relevance to the ongoing investment in capital market activities, as it will directly impact on the interest of market participants (investors). Companies that are considered to have good performance will certainly give a good signal in the capital market, so it will attract investors to carry out investment activities which will then increase stock returns.
Steel and aluminium industry reactions of import rate announcement: Event study analysis Anisyah Nur Kuswati; Faizah Syihab; Rizka Ramayanti
Economics, Business, Accounting & Society Review Vol. 1 No. 2 (2022): Economics, Business, Accounting, and Society Review
Publisher : International Ecsis Association

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (365.194 KB) | DOI: 10.55980/ebasr.v1i2.10

Abstract

The study aims to find out the investor reaction to the announcement of import tariffs changes for the steel and aluminum sector. The study used the event study method, through the calculation of abnormal returns and trading volume activities which has the 11 event periods (ARCH/GARCH). The sample is public listed steel and aluminum firms, consist of daily stock prices, trading volume, and price index. One-sample test result showed abnormal returns variable are significant in the period before the announcement event, whereas the significant results only occurred on the period three after the event. Meanwhile, for the trading volume activities, the significant result show differences during the entire period. It can be said that the steel and aluminum industries being affected by the tariff announcement. As for two-samples test showed that there is not significant differences before and after the announcement event displayed, on abnormal returns and trading volume activity variable. Therefore, there is a shock influenced the stock return and show reaction by the announcement. From the study, abnormal return quickly returns to normal state and proved that the market in semi-strong efficiency category.
How fast do Indonesian firms in achieving targeted capital structure? Faizah Syihab
Al Tijarah Vol. 4 No. 2 (2018): Al Tijarah | December
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/tijarah.v4i2.2824

Abstract

Achieving the optimal capital structure are to ensure funds are always available to finance firm’s operations, minimize the cost of capital, to decide on how much to borrow, who or where, when, for how long or in what currency. The mixture of different sources of financing that firm chooses, will affect the value of firms and risk-return to shareholders as debt and equity has its own characteristics. This study expects to give better assessment on how fast is the speed adjustment to achieve the targeted capital structure in Indonesia public listed firm from the period of 2006-2016 using the Generalized Method of Moments (GMM) approach. In this study, the estimated coefficient of the lagged leverage (0.6134) implies that the firm is under-adjust due the coefficient below the target requirement which is less than one and greater than zero. This means that the firms maintain 61.34% of the debt that they have last year and change by 38.66% toward its target leverage. Result depicts that the estimated coefficient of the lagged dependent variables is significant at 1% level. This significant result indicates the existence of target capital structure and firms do make adjustment to long run targets (optimal debt ratio).
The Doctrine of Khiyar al-Ayb in Protecting the Customer’s Rights Faizah Syihab
Akademika: Jurnal Keagamaan dan Pendidikan Vol. 12 No. 1 (2016): Akademika: Jurnal Keagamaan dan Pendidikan | Juni 2016
Publisher : STAIN Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56633/jkp.v12i1.6

Abstract

Khiyar is a theory of option in Islamic Law of Mu`amalat which made upon protecting the right of related parties in transaction. While, Khiyar Al-`Ayb is one of the components which highlights the caption on option due to defects which give the party at the deficient place or buyers an option to not obliged to the contract as might cause an offend or oppress to them. It is deemed as an important provision to enclose together in the contract term to exercise the Khiyar Al-‘Ayb as the natural right of the buying party. This paper attempts to address challenges endure and its prospects through this doctrine of option in realizing it in today immense transaction. Furthermore, there are some example cases in the real practice which before and after the practicing of Khiyar Al-`Ayb in the stipulated contract terms and condition.