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All Journal IQTISHADIA EKO-REGIONAL JURNAL PENGEMBANGAN EKONOMI WILAYAH Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam
Sunaryati Sunaryati
UIN Sunan Kalijaga Yogyakarta
Religion Economics, Econometrics & Finance

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Islamic Social Reporting and Financial Distress In List of Sharia Securities Utari Evy Cahyani; Misnen Ardiansyah; Sunaryati Sunaryati
IQTISHADIA Vol 13, No 2 (2020): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v13i2.7756

Abstract

The number of sharia-approved companies in the Indonesia Stock Exchange is growing rapidly. It is important to see how the social performance of these companies, using Islamic Social Reporting Index (ISR Index). Financial Distress as an early sign of a company’s failure is also important to study. This study examines the relation between ISR Index and financial distress in list of sharia securities. The control variables apply in this research are SIZE, ROA, CR, WCTR, DER, and RETA. By using a sample of 129 companies from financial statements and annual reports (2014-2018), three models were built with the Modified Altmans Z-Score, Ohlson O-Score and Zmijewski Zm-Score as a proxy of financial distress. Based on ISR index calculation, the theme of products and services has the highest disclosure score. The lowest disclosure score is corporate governance theme. Panel data regression results show that ISR Index affects financial distress in the Modified Altman’s model. It means the higher the ISR index value, the greater the likelihood of companies run into financial distress. Whereas in Ohlson’s and Zmijewski’s model, ISR Index has no effect on financial distress.
Islamic Social Reporting and Financial Distress In List of Sharia Securities Utari Evy Cahyani; Misnen Ardiansyah; Sunaryati Sunaryati
IQTISHADIA Vol 13, No 2 (2020): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v13i2.7756

Abstract

The number of sharia-approved companies in the Indonesia Stock Exchange is growing rapidly. It is important to see how the social performance of these companies, using Islamic Social Reporting Index (ISR Index). Financial Distress as an early sign of a company’s failure is also important to study. This study examines the relation between ISR Index and financial distress in list of sharia securities. The control variables apply in this research are SIZE, ROA, CR, WCTR, DER, and RETA. By using a sample of 129 companies from financial statements and annual reports (2014-2018), three models were built with the Modified Altmans Z-Score, Ohlson O-Score and Zmijewski Zm-Score as a proxy of financial distress. Based on ISR index calculation, the theme of products and services has the highest disclosure score. The lowest disclosure score is corporate governance theme. Panel data regression results show that ISR Index affects financial distress in the Modified Altman’s model. It means the higher the ISR index value, the greater the likelihood of companies run into financial distress. Whereas in Ohlson’s and Zmijewski’s model, ISR Index has no effect on financial distress.
The Effect of Corruption on International Trade: A Case Study of Indonesian Trade to Nine Countries Danang Ibnu Atsir; Sunaryati Sunaryati
EKO-REGIONAL Vol 13, No 1 (2018)
Publisher : Jurusan Ilmu Ekonomi dan Studi Pembangunan Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1366.885 KB) | DOI: 10.20884/1.erjpe.2018.13.1.1160

Abstract

Corruption is a form of abuse of ethical authority by public officials, which is divided into two parts: bribery and forced collection. The effect of corruption like bribes and illegal levies is widespread in the public sector. One interesting investigation is the effect of corruption on international trade. Corruption becomes a barrier in international trade, where corruption plays a role in the access of trade goods and services from within and abroad. Using the gravity model, the focus of this research was the effect of corruption on international trade by taking a case study of Indonesia’s bilateral trade with its nine largest export destination countries. Using panel data, analysis tools used in this research were common effect, fixed effect, random effect and poisson pseudo maximum likelihood (PPML). In this research, it was found that geographical distance variable in its fixed units caused the omitted variable so that the error term correlated with independent variables. In order to overcome the problem, poisson pseudo maximum likelihood method was used in performing regression gravity model with linear log form, so the omitted variable issue on the geographical distance can be eliminated. The results of this research concluded that corruption played a role in international trade through bureaucratic mechanisms of trade and investment licensing and the effect of corruption was more detrimental to exporters.Keywords:   Gravity Model, Corruption, International Trade, Poisson Pseudo Maximum Likelihood (PPML).
Co-Authors Danang Ibnu Atsir Misnen Ardiansyah Utari Evy Cahyani