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Awareness Nazir Cash Waqf Registered in the Agency West Sumatra Waqf Against Management Risk Ria Anjani; Mohamad Fany Al Farisi; Rida Rahim
Enrichment : Journal of Management Vol. 12 No. 3 (2022): August: Social Science, Economics
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (848.495 KB) | DOI: 10.35335/enrichment.v12i3.661

Abstract

This study aims to find out how Nazir's awareness registered with BWI (Indonesian Waqf Board) West Sumatra Region towards cash waqf risk management, knowing what risks exist in each institution and how to mitigate the risks that exist in the institution. The research method uses a mixed exploratory method, preceded by structured interviews and then filling out online questionnaires. The results of the study show that overall nazir registered with BWI West Sumatra Region has an awareness of the risks of cash waqf management, the risks contained in the institution consist of financial risk, operational risk, sharia non-compliance risk and reputation risk. Risk mitigation carried out includes investing cash waqf in the form of deposits, investing in own products, making soup (standard operating procedures), having a DSN-MUI certified supervisory board, fulfilling the mandate of wakif, transacting only with Islamic banks, making certificates as nazir who registered with BWI, conducting socialization about cash waqf, reporting and commitment to be willing to be audited and others. With the small number of cash waqf owned by some of these money waqf nazir institutions, it indicates that the public's interest and knowledge of cash waqf is still low. Whereas West Sumatra is an area with a Muslim majority, which should have good knowledge and literacy regarding cash waqf.
Announcement Of Reduction In BI7DRR Interest Rate For 2019 To 2021 On Abnormal Return And Cumulative Abnormal Return Of Indonesian Banking Share Deswita Murdiana; Fajri Adrianto; Mohamad Fany Alfarisi
Enrichment : Journal of Management Vol. 12 No. 3 (2022): August: Social Science, Economics
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (976.373 KB) | DOI: 10.35335/enrichment.v12i3.664

Abstract

This study aims to determine the significant positive abnormal return on Indonesian banking stocks during the announcement of the BI7DRR interest rate cut, to determine the difference between average abnormal returns and cumulative abnormal returns in Indonesian banking stocks before and after the announcement of the BI7DRR interest rate cut in 2019 to 2021. The study This is an event study of 10 announcement dates with an event period of 12 days, namely -5, event date, +5. The sample used is 22 banking companies selected using purposive sampling technique. This study used One Sample t-Test, Paired Samples t-Test, Wilcoxon One Sample and Wilcoxon Paired Samples. The results show that firstly, there was a significant positive abnormal return in Indonesian banking stocks when the announcement of the BI7DRR interest rate cut on 17-18 July 2019 (2nd event date) had Event Study, BI7DRR Interest Rate Reduction,Abnormal Return, Cumulative Abnormal Return a significant value of 0.006 or 0.6%, 19-20 February 2020 (event date). 1) significant value 0.012 or 1.2%, June 17-18 2020 (2nd event date) significant value 0.014 or 1.4% and July 15-16 2020 (2nd event date) significant value 0.016 or 1.6%. Second, there was no abnormal return on Indonesian banking stocks which was significantly positive when the BI7DRR interest rate cut was announced on 21-22 August 2019, 18-19 September 2019, 23-24 October 2019, 18-19 March 2020, 18-19 November 2020 and 17-18 February 2021. Third, there are differences before and after the announcement of the BI7DRR interest rate cut by showing the results of significant average abnormal returns & cumulative abnormal returns on 18-19 September 2019 a significant value of 0.012 or 1.2%, 19-20 February 2020 significant value is 0.0001 or 0.01% and on 17-18 February 2021 the significant value is 0.013 or 1.3%. Fourth, there is no difference in average abnormal returns & cumulative abnormal returns before and after the announcement of BI7DRR Interest Rate reduction on 17-18 July 2019 significant value of 0.069 or 6.9%, 21-22 August 2019 significant value of 0.115 or 11.5%, 23-24 October 2019 significant value 0.685 or 68.5%, March 18-19 2020 significant value 0.372 or 37.2%, June 17-18 2020 significant value 0.390 or 39%, July 15-16 2020 significant value 0.091 or 9.1%, and 18-19 November 2020 significant value 0.610 or 61%.
Factors Affecting Company Value Khairul Rahman; Mohamad Fany Alfarisi; Masyhuri Hamidi
Enrichment : Journal of Management Vol. 12 No. 5 (2022): December: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (367.228 KB) | DOI: 10.35335/enrichment.v12i5.887

Abstract

This study aims to analyze the effect of managerial Ownership Structure, Liquidity, Profitability, Profit Growth and Capital Structure on firm value in manufacturing companies in the basic and chemical industrial sectors as well as in the consumer goods sector. The population of this study amounted to 142 companies listed on the IDX and used a sample of 20 companies in the basic and chemical industry sector and 16 companies in the consumer goods sector that have been listed on the IDX for the 2016-2020 period. Sampling in this study using non-probability sampling method using purposive sampling technique. The results of research in the basic and chemical industry sectors obtained that managerial ownership structure has an insignificant negative effect on firm value, Liquidity has a positive and insignificant effect on firm value and profitability, growth earnings and capital structure have a negative and significant effect on firm value in the basic and chemical industry sectors
Analysis of the Purpose of Use of Funds on the Performance of Companies Conducting Initial Public Offerings (IPO) in 2016-2020 Mesy Ayusari; Fajri Adrianto; Mohamad Fany Alfarisi
Enrichment : Journal of Management Vol. 12 No. 5 (2022): December: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v12i5.993

Abstract

One of the objectives of a company conducting an IPO is to obtain long-term funding and short-term funding without being burdened by interest. As mentioned earlier, the company was founded for the company's sustainability in the long term related to capital such as acquisitions, investments, paying debts, expanding, and many others. Not only in the initial release of shares to the capital market, the ease of obtaining capital will also apply in the future. Several things can be done by companies after carrying out an IPO such as private placement, secondary offering, or through a limited public offering. The first hypothesis found that fixed asset investment partially has a significant effect on profitability. The second hypothesis found that working capital financing has a significant effect on profitability in IPO companies for the 2016-2020 period. The results of testing the third hypothesis found that investment in share of stock partially has a significant effect on profitability. The results of testing the fourth hypothesis found that dept repayment partially has no significant effect on profitability. And the results of testing the fifth hypothesis found that leverage has no significant effect on profitability
Effect of Environment, Social and Governance Disclosure on Firm Value Faradilla Suretno; Fajri Adrianto; Mohamad Fany Alfarisi
JBTI : Jurnal Bisnis : Teori dan Implementasi Vol 13, No 2 (2022): August 2022
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jbti.v13i2.14458

Abstract

This study aims to determine the environmental, social, and governance of the firm value in this study are all companies listed on the Indonesia Stock Exchange from 2016-2020. The determination of the sample in this study used purposive sampling with the number of samples used by as many as 27 companies during the year. a period of 5 consecutive years of observation so that the total sample obtained is 135. This study uses Stata 14, the analytical technique used is panel data regression analysis. The results showed that the first hypothesis was found that the environment variable's disclosure had a positive and significant effect on firm value in companies listed on the Indonesia Stock Exchange. Social variable disclosure has a positive and significant impact on firm value in companies listed on the Indonesia Stock Exchange. Governance variable disclosure has a negative and significant impact on firm value in companies listed on the Indonesia Stock Exchange. While testing with the control variable, namely the company's size, partially has a significant negative effect on firm value, the leverage and profitability variables partially have a significant effect on firm value.
Is it Corporate Governance, Industry, and Profitability Matter on Esg Performance? Evidence from Indonesian Companies Filardi Rahmadani; Fajri Adrianto; Mohamad Fany Alfarisi
Journal of Social Research Vol. 2 No. 3 (2023): Journal of Social Research
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/josr.v2i3.728

Abstract

This study aims to test and provide empirical evidence regarding the influence of corporate governance (percentage of independent commissioners), industry, and profitability (ROA and retention ratio) on environmental, social, and governance (ESG) performance. This study also uses two control variables: company size and company age. The objects of this study are companies listed on the Indonesia Stock Exchange (IDX) that have complete ESG scores from the Thomson Reuters Eikon database for 2011-2020. The sample companies are 25 companies selected based on the purposive sampling method. Hypothesis testing was carried out using panel data regression analysis with the STATA 14.0 program. The results of the study show that the industry variable, profitability (retention ratio), has a negative and significant effect on ESG performance. For corporate governance variables (independent commissioners), profitability (ROA) has no effect on ESG performance. This study adds value to the existing literature because it provides an overview of the impact of the factors used on ESG performance in companies in Indonesia.
Pengaruh Behavioral Intention dan User Behavioral terhadap Gender sebagai Variabel Moderasi Nadya Fritanita Julyazti; Mohamad Fany Alfarisi; Fajri Adrianto
Jurnal Informatika Ekonomi Bisnis Vol. 5, No. 1 (2023): Accepted
Publisher : SAFE-Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37034/infeb.v5i1.220

Abstract

This study aims to prove the effect of performance expectancy, effort expectancy, social influence and facilitating conditions on the behavioral intention of customers in the city of Padang to use Islamic banking mobile banking in the city of Padang. In addition, this study aims to prove the role of gender as a moderator of the relationship between behavioral intention and customer user behavior. Using sharia banking mobile banking services in the city of Padang. Data collection was carried out by distributing questionnaires which were carried out directly or using the Google form. The data analysis method was carried out using the Structural Equation Model. Based on the results of hypothesis testing, it was found that performance expectancy, social influence, facilitating conditions had a significant effect on behavioral intention, besides that it was also found that gender did not moderate the relationship between behavioral intention and user behavior of customers using Islamic banking mobile banking services in Padang City.
Governance Components and Social Performance: Company Analysis of G20 Countries Muhammad Farras Aroes; Fajri Adrianto; Mohamad Fany Alfarisi
Journal of Social Research Vol. 2 No. 5 (2023): Journal of Social Research
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/josr.v2i5.935

Abstract

This study is aimed to obtain empirical evidence of the influence of Management, Shareholders, and CSR Strategy on the Social Performance of companies from countries listed in the G20 forum. The study also used four control variables: Firm Size, Firm Age, Firm Leverage, and Firm Profitability. The data used is secondary data from the Thomson Reuters Eikon database of 60 companies engaged in Consumer Non-Cyclicals (Staples), more specifically, namely those engaged in the Food and Beverages sector in 2012-2021. This study used Panel Data Regression Analysis; Fixed Effect Model with the help of STATA 17. The results of this study show that Management and CSR Strategy have a significant and positive effect on Social Performance. Meanwhile, Shareholders have an insignificant and negative influence. This research adds to the high value of the scientific literature because it provides a good overview and basis for understanding how companies can provide Social Performance in accordance with company policies and performance.
The Effect of Financial Ratios on Stock Return of Telecommunication Companies Listed on IDX 2009 – 2016. Puti Lenggo Geni; Mohamad Fany Alfarisi
Business and Investment Review Vol. 1 No. 2 (2023)
Publisher : CV. Lenggogeni Data Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (409.199 KB) | DOI: 10.24176/birev.v1i2.6

Abstract

This study aims to analyze the influence of Return On Equity (ROE), Earning Per Share (EPS), Debt Equity Ratio (DER) separately and simultaneously on stock returns of Telecommunication Companies. This research was analyzed by quantitative analysis. The method used to analyze the data was panel data method using eviews 9 as a data processing tool. Of the three independent variables examined in this study, based on the t test (partially) the Return On Equity, Earning per Share and Debt to Equity Ratio have no significant effect on stock returns of telecommunications companies listed on the IDX in 2009 - 2016. Simultaneously ( test F) the five independent variables studied together did not have a significant effect on the stock returns of telecommunications companies listed on the IDX from 2009-2016. The independent variables studied were only able to explain the stock return variability of 1.2%.     Abstrak   Penelitian ini bertujuan untuk mengetahui Menganalisis Pengaruh Pengaruh Return On Equity (ROE), Earning Per Share (EPS), Debt Equity Ratio (DER) secara sendiri-sendiri dan simultan terhadap return saham Perusahaan Telekomunikasi. Penelitian ini dianalisis dengan analisa kuantitatif metode yang digunakan untuk menganalisis data adalah metode data panel dengan menggunakan eviews 9 sebagai tools pengolahan data. Dari tiga variabel bebas yang diteliti dalam penelitian ini, berdasarkan uji t (secara parsial) maka Return On Equity, Earning per Share dan Debt to Equity Ratio tidak berpengaruh signifikan terhadap return saham perusahaan telekomunikasi yang terdaftar di BEI tahun 2009 – 2016. Secara simultan (uji F) kelima variabel bebas yang diteliti bersama-sama tidak memberikan pengaruh signifikan terhadap return saham perusahaan telekomunikasi yang terdaftar di BEI dari tahun 2009-2016. Variabel-variabel bebas yang diteliti hanya mampu menjelaskan variabilitas return saham sebesar 1,2%.
ENDOGENEITY TESTING: HEURISTIC BEHAVIOR AS A REFERENCE FOR BEGINNING INVESTORS IN MAKING INVESTMENT DECISIONS Syailendra Eka Saputra; Fajri Adrianto; Mohamad Fany Alfarisi; Masyhuri Hamidi; Fajri Muharja
Jurnal Apresiasi Ekonomi Vol 11, No 2 (2023)
Publisher : Institut Teknologi dan Ilmu Sosial Khatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31846/jae.v11i2.608

Abstract

This study aims to examine the tendency of endogeneity on heuristic behavior as a reference for novice investors in making investment decisions. Endogeneity is a deviation in OLS modeling which shows that there is still a correlation between the independent variables in the model and the error, causing biased results. The issue of endogeneity is an interesting aspect of current research, and still creates pros and cons for researchers in the fields of finance and econometrics. In this study, 158 respondents were used who were novice investors. The selection of respondents was done randomly. In this study, four categories of variables were used, namely the dependent variable, namely investment decisions, the independent variable, namely financial risk tolerance, endogenous heuristic behavior variables and financial literacy instrument variables. The analysis method is carried out using ivregress 2sls which is processed with Stata. The test results found that endogeneity symptoms were detected in heuristic behavior of novice investors. This behavior appears and influences investment decisions because it is preceded by financial literacy, which rejects the insights that investors have about financial science or investment.