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REAKSI PASAR TERHADAP DIVIDEND ANNOUNCEMENT PERUSAHAAN YANG SAHAMNYA MASUK DAFTAR EFEK SYARIAH Khoiruddin, Moh.; Faizati, Evy Rochfa
Jurnal Dinamika Manajemen Vol 5, No 2 (2014): September 2014 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Semarang State University, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v5i2.3662

Abstract

Tujuan dilakukan penelitian ini adalah untuk menguji reaksi pasar yang diukur dengan variabel abnormal return dan trading volume activity (TVA) di sekitar pengumuman dividen (dividend announcement). Populasi dalam penelitian ini adalah semua pengumuman dividen dari perusahaan yang sahamnya masuk pada daftar efek syariah (DES) Indonesia pada tahun 2013, yang berjumlah 40. Sampel penelitian diambil dari semua jumlah populasi. Analisis data dilakukan dengan uji One Sample t-test untuk menguji reaksi pasar yang terjadi selama periode pengamatan (event window) 21 hari yaitu t-10 (10 hari sebelum pengumuman dividen), t0 (saat pengumuman dividen), dan t+10 (10 hari sesudah pengumuman dividen). Hasil penelitian menunjukkan terdapat reaksi pasar di sekitar hari pengumuman dividen yang diukur menggunakan variabel abnormal return dan trading volume activity (TVA). The purpose of this study was to test the market reaction which was measured by abnormal return variable and trading volume activity (TVA) around the dividend announcement. The population of this study was all companies’s dividendannouncement which their shares were listed on Indonesia Syariah Securities List published in 2013, they were 40 companies. The samples were taken from all population. The data were analyzed by one sample t-test to test the market reactions which occurred during event window for 21 days; they were t-10 (10 days before the dividend announcement), t0 (at the dividend announcement time), and t+10 (10 days after the dividend announcement). Based on the research results, it can be seen that there was a market reaction around the dividend announcement which was measured by abnormal returns variable and trading volume activity (TVA).
FAKTOR-FAKTOR PENENTU PROFITABILITAS BANK SYARIAH DI INDONESIA Muliawati, Sri; Khoiruddin, Moh.
Management Analysis Journal Vol 4 No 1 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i1.7211

Abstract

This research aimed to determine the influence of third party funds (DPK), Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), Operating Expenses to Operating Income (BOPO), SWBI (Indonesian Wadiah Certificates Bank ) toward Return on Assets (ROA ) on Syariah Banks in Indonesia. The population in this study were all registered Syariah banking at Bank Indonesia, those are 11 Syariah Banks (BUS). The sampling technique used was purposive sampling criteria, which result were 4 Syariah banks. This study was using multiple linear regression analysis. Data used in this research were obtained from Bank Indonesia during the period of 2011 to 2013. Data analysis methods used in the study were multiple linear regression analysis, the classical assumption test, and test hypotheses. The result of the research show that the DPK, NPF, FDR, ROA and SWBI simultaneously affect the ROA. Data analysis methods used in the study were multiple linear regression analysis, the classical assumption test, and test hypotheses. The result of the research show that the DPK, NPF, FDR, ROA and SWBI simultaneously affect the ROA
PENGARUH PENGUMUMAN PERINGKAT SUKUK TERHADAP REAKSI PASAR Srianingsih, Srianingsih; Khoiruddin, Moh.
Management Analysis Journal Vol 4 No 2 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i2.7797

Abstract

The purpose of this research is to explain the effect of sukuk rating announcement to market reaction. The population in this study is all of sukuk rating announcement of the companies that launch sukuk and stock during the year 2010-2014. The sample selected based on purposive sampling is 55 announcements. This study is an event study research using market adjusted model with 21 days of windows period (t-10 to t+10). The data used in this research is daily closing price that is collected by the documentation method. Analysis methods used in this research are normality test, one-sample t-test, and paired t-test. The results of this study find that there are significant sukuk rating announcement to the market reaction during 2 days that are on  t+2 the significant is 5% and on t+3 the significant is 10%. The market reaction does not indicate significance difference between the return before and after the announcement. Market Efficiency happened is a semi-strong form because the investors are still enjoying the abnormal return for 2 days
ANALISIS PENGARUH PENGUMUMAN DIVIDEN TUNAI TERHADAP ABNORMAL RETURN DAN VARIABILITAS TINGKAT KEUNTUNGAN SAHAM Tastaftian, Muftiai; Khoiruddin, Moh.
Management Analysis Journal Vol 4 No 4 (2015): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v4i4.8886

Abstract

The purpose of this research is to explain the reaction of markets to the dividend cash announcement on all companies share listed on the Sharia Effect List. The other goal is to explain the difference of abnormal return and security return variability (SRV) on the period before, during and after period ex-dividend date in 2014. This research used the event study, which was conducted observation of abnormal return and security return variability during the event period, i.e. before 10 days up to 10 days after the dividend cash announcement. The population in this research are all companies share listed on the Sharia Effect List (DES) in 2014. The sampling technique was conducted with a purposive sampling method and obtained a sample of 135. Based on the result of differential tests analysis showed that there are difference abnormal return on the period before-at the moment, after-at the moment and before-after and security return variability variable on the period before-after the dividend cash announcement. However, the security return variability (SRV) on the period before-after announcement showed that there are no difference.
REAKSI PASAR TERHADAP PENGUMUMAN PENERBITAN SUKUK MUDHARABAH DAN OBLIGASI KONVENSIONAL Purwaningsih, Purwaningsih; Khoiruddin, Moh.
Management Analysis Journal Vol 5 No 4 (2016): Managemant Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.10915

Abstract

This research aims to analyse market reaction toward sukuk mudharabah and conventional bonds issue announcement that indicated with abnormal return and trading volume activity. Population in this research is all of sukuk mudharabah and conventional bonds issue announcement registered in IDX period 2012-2015. This research used event study with 21 days of windows period (t-10 to t+10). Samples of this research consist of 5 sukuk mudharabah issue announcements and 65 conventional bonds issue announcements based on purposive sampling method. Analysis methods used in this research are t-test and Paired Samples T-Test. The results of this research show that there are significant abnormal return around the date of sukuk mudharabah issue announcement on t-10, t-8, t-6, and wheres significant abnormal return around the date of conventional bonds issue announcement on t-7, t-3, t-1, t-3, t-4, t-7. In addition, there is no significant difference between trading volume activity before and after to sukuk mudharabah and conventional bonds issue announcement. The market react slow and prolonged so there is not happened  market efficiency semi-strong form in information and decision.  
Analisis Kebijakan Kurikulum Pendidikan Islam di Lembaga Pendidikan Islam Khoiruddin, Moh.
JOIES: Journal of Islamic Education Studies Vol. 1 No. 1 (2016): JUNE
Publisher : Program Studi Doktor Pendidikan Agama Islam Pascasarjana Universitas Islam Negeri Sunan Ampel

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (232.732 KB)

Abstract

Curriculum of Islamic education in Indonesia, especially in an environment absolutely unique educational institution that is popular with characteristic of traditionality.Predicate Islam, automatically and logically consequence, that the educational curriculum as intended must have characteristics that set it apart than other types or categories. Islamic education curriculum must be in harmony with the basic principles of Islamic education and the basic principles of Islam. The diversity of Islamic education institutions, led to divergent curricula in Islamic educational institutions, such as schools, madrassas, Islamic schools, and universities tingggi Islam. The diversity of the curriculum of Islamic education institutions, which is caused differences in educational objectives, principles of curriculum development and curriculum and selection. Islamic education curriculum in terms of Islamic education policy analysis, can be seen from the three models, the model of a prospective, retrospective and model of integrative models. Curriculum pesantren and madrasah curriculum should at least use the integrative models where the model is able to combine the two previous models, so that education Islamic schools remain a role model for public education by promoting Islamic education.
Main Priorities in Value Added Improvement-Based on Commodity Processing System Nihayah, Dyah Maya; Pujiati, Amin; Khoiruddin, Moh
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 10, No 2 (2017): September 2017
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v10i2.11300

Abstract

The huge number of rambutan plants in Gunungpati has resulted in the decline of rambutan sales price during harvest season, i.e. Rp 1,500.00 per pack, any unsold rambutan tends to immediately wilt, break and deteriorate. This research is aimed to the sequence of commodity processing priority in order to increase the product’s value-added. This study is an action research, using descriptive statistic and Analytical Hierarchy Process (AHP). The results indicate that a counseling since production until post-harvest becomes the highest priority, followed by produce sorting, and availability of produce processing technology. It is necessary to have practical field-based initiatives of businesses farmers who have managed to do the innovations, competitive advantage, and then to rise the competitiveness. To make this value-added-based horticulture commodity processing system work, Government role is required to guiding and evaluating every policy priorities.
Konsistensi Pengukuran Value at Risk pada Saham Syariah dengan Metode Historis Ridha, Muhamad Naufal Nur; Khoiruddin, Moh.
Management Analysis Journal Vol 7 No 1 (2018): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i1.13759

Abstract

Tujuan dari penelitian ini adalah untuk mengetahui konsistensi pengukuran risiko menggunakan value at risk dengan menggunakan metode historis pada saham syariah meliputi periode jangka pendek, jangka menengah dan jangka panjang. Jenis penelitian yang digunakan dalam peletian ini adalah penelitian kuantitatif. Objek penelitian ini adalah return saham-saham syariah yang masuk ke dalam Jakarta Islamic Index selama periode 2011-2015. Sampel pada penelitian ini diambil dengan menggunakan metode purposive sampling. Metode pengumpulan data dalam penelitian ini menggunakan metode dokumentasi, sedangkan metode analisis yang digunakan dalam penelitian ini adalah uji  Kendall’s W.  Hasil penelitian ini menjelaskan bahwa perhitungan value at risk saham syariah selama periode jangka pendek, jangka menengah dan jangka panjang hampir seluruhnya tidak konsisten. Hanya ada satu perhitungan yang menyatakan perhitungan value at risk konsisten, yaitu perhitungan antara periode 1 tahun dengan periode 3 tahun. Dapat disimpulkan bahwa nilai value at risk tidak hanya dipengaruhi oleh periode waktu dan tingkat kepercayaan, namun ada faktor lain yang mempengaruhi seperti risiko pasar karena dalam metode historis mencakup nilai-nilai return pada saat kondisi pasar yang sedang mengalami gangguan atau tidak normal.
Reaksi Pasar terhadap Dividend Announcement Perusahaan yang Sahamnya Masuk Daftar Efek Syariah Khoiruddin, Moh.; Faizati, Evy Rochfa
JDM (Jurnal Dinamika Manajemen) Vol 5, No 2 (2014): September 2014 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v5i2.3662

Abstract

The purpose of this study was to test the market reaction which was measured by abnormal return variable and trading volume activity (TVA) around the dividend announcement. The population of this study was all companiess dividend announcement which their shares were listed on Indonesia Syariah Securities List published in 2013, they were 40 companies. The samples were taken from all population. The data were analyzed by one sample t-test to test the market reactions which occurred during event window for 21 days; they were t-10 (10 days before the dividend announcement), t0 (at the dividend announcement time), and t+10 (10 days after the dividend announcement). Based on the research results, it can be seen that there was a market reaction around the dividend announcement which was measured by abnormal returns variable and trading volume activity (TVA).
Does Sharia Banking Performance Have Varietion between the Region? Mugiarti, Rini Listia; Khoiruddin, Moh.
Management Analysis Journal Vol 7 No 2 (2018): Management Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v7i2.23843

Abstract

The purpose of this research is to know the geographical influence on the performance of Islamic banking which are in different regions. The population in this research is the whole Islamic banking that operations in four regions (Asia, America, Europe, and Africa). Sample based on purposive sampling method there are 16 Islamic banking which comprises 13 banks came from the Asian continent, 1 bank of Americas, 1 banks from continental Europe, and 1 bank comes from the African continent. Methods of analysis used in this study are the analysis of multiple linear regression analysis tools with Eviews 9. The results of the research show that the geographical location of positive and significant effect on the performance of Sharia banking. Variable non-performing financing (NPF) a negative and significant effect on the performance of Sharia banking. Financing to Deposit Ratio (FDR) positive significant effect on the performance of Islamic banking while the Debt to Equity Ratio (DER) does not affect the performance of Islamic banking.