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Analisis Dampak Dual Banking System Bank Indonesia terhadap Volume Pembiayaan Berprinsip Syariah di Indonesia Nugroho, Muh Rudi; Rokhaniyah, Siti
Manajemen Bisnis Syariah Nomor : 01/Th. V Vol. 9 Januari 2011
Publisher : Manajemen Bisnis Syariah

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The study entitled "Analysis of Dual Banking System Bank Indonesia against Shariah financing principles in Indonesia", using the data time series that began in 2003 fourth quarter. Research was conducted to analyze the factors that affect the volume of financing in Islamic Banking among others: deposits, bank capital, the number of bank offices, and inflation. In addition the dual banking system implementation of the policy of Bank Indonesia.   The study was conducted to determine how much influence policy dual banking system, third-party funds (TPF), capital of banks (MDL), the number of bank offices (JKB), and inflation (INF) in the short and long term financing to the debt based on sharia principles in Indonesia.   These quarterly data analysis using OLS regression (Ordinary Least Square) with the approach Partial Adjustment Method (PAM). This model was chosen to comply with the regression technique is used where data should show a stationary trend. This is done so that the results are not misleading the development of economic variables on which most of the time of crisis is very volatile, so it is possible that the data has not stationary.This is based on the assumption that economic conditions in the imbalance. Before performing regression PAM first performed model selection, the test unit roots, cointegration test, t test, F test, test R2, as well as the classic assumption test. Based on the PAM test results that in the short term, all the variables together significantly influence the volume of financing based on Islamic principles in Indonesia.The amount of financing amounting to 5483 million dollars is affected by the dual banking system, deposits, MDL, JKB, and INF. If deposits increased 1% the volume of financing will increase by 0489%. The volume of financing will increase by 0378%, if the MDL rose 1%, so if inflation rises by 1%, the volume of financing will go up 0007%. Testing the PAM model shows the magnitude of the adjustment coefficient 1 - δ (1-0.172070 = 0.82793). This shows that 82.79% is the differences between the actual financing with financing have been achieved in one period. With the value of this coefficient, shows that in the long run, each coefficient is greater than the coefficient in the short term. Volume of financing in the long run is 6623 million dollars regardless of the dual banking system, deposits, MDL, JKB, and INF. Long-term value of elastic coefficient of each variable is; DPK = 0590 (inelastic), MDL = 0457 (inelastic), JKB = 0088 (inelastic), INF = 0008 (inelastic), and Dummy = -0007 (inelastic). Advice given in this study, among others; Bank Indonesia in implementing and developing the dual banking system while maintaining the strict sharia, in addition to that necessary to disseminate Islamic Bank more effectively and continue to the wider community. Islamic banks have to strengthen the capital side, raising third party funds and optimize the functions of the office network to increase the volume of financing and Islamic Banks should implement strict risk management in the distribution of financing. Keywords: Dual Banking System, Partial Adjustment Method, and Sharia Banking   

DAMPAK MANAJEMEN LABA TERHADAP ALOKASI INVESTASI PERUSAHAAN Rokhaniyah, Siti
Jurnal Akuntansi dan Sistem Teknologi Informasi Vol 11 (2015): Akuntansi dan Sistem Teknologi Informasi
Publisher : Universitas Slamet Riyadi

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This study examines the earnings management affect the allocation of investment, the manufacturing companies listed on the Indonesia Stock Exchange, in the period 2009 â€“ 2013. Allocation of investment, as the dependent variable, proxies by investment in fixed assets (net property, plan, and equipment), and the independent variables, earnings management is proxies by discretionary accruals that calculated following the model of Jones modification. This is because this model is the best model (Dechow, et al, 2002) as separate components of discretionary accruals and non-discretionary accruals. To obtain more accurate results we use several control variables, including fixed asset investment of the previous period, investment opportunity, asset growth, and net operating cash flow. The results showed that earnings management, both this period (t) and the previous period (t-1) has positive significant effect on the allocation of investment companies. That is that the higher the earnings management (DA), the allocation of investment companies will be higher, and there is a tendency companies to invest in excess (over-investment). Therefore, we need a certain mechanism that can affect managers in making investment decisions more efficiently. Equity-based compensation can anticipate the negative effect. With the equity-based compensation, earnings management is suspected influence on the allocation of investment is not significant. Keywords: allocation of investment, earnings management, discretionary accrual

Investigasi Empiris: Tata Kelola Perusahaan dan Pengungkapan Sukarela pada Perbankan Syariah di Indonesia Rokhaniyah, Siti
EQUILIBRIUM Vol 8, No 2 (2020): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v8i2.7981

This study investigated empirically the effect of good corporate governance on the level of voluntary disclosure in annual reports of Islamic banks. Corporate governance was proxied by managerial ownership, board of commissioners, audit committee, nomination and remuneration committee, integrated governance committee, corporate governance committee, risk management committee, risk monitoring committee, and institutional ownership. Samples are selected with criteria; a Sharia Commercial Bank (BUS) that was consistent in publishing annual reports in 2016-2019. There are 13 BUS that meet the criteria. Data were analyzed using panel data regression (fixed effect) with an error tolerance of 5%. Based on the results of the regression analysis it was concluded that managerial ownership, the board of commissioners, the audit committee, the nomination and remuneration committee, and the integrated governance committee had a positive effect on the level of voluntary disclosure. Meanwhile, the risk management committee and risk monitoring committee negatively impact to the level of voluntary disclosure. The corporate governance and institutional ownership committee has no effect on the level of voluntary disclosure in annual Islamic banking reports. Theoretically, these findings have implications for adding literature on corporate governance and voluntary disclosure in Islamic banking, which has so far focused on qualitative descriptive methods. On a practical level, these findings are useful for executives in Islamic banking, particularly in implementing good corporate governance and voluntary disclosure policies.

PICKING ‘MANTEN TEBU’ CANE IN THE SYNCRETISM OF THE CEMBENGAN TRADITION PERSPECTIVE OF VALUE EDUCATION AND URF' Lila Pangestu Hadiningrum; Siti Rokhaniyah; Ning Karnawijaya
International Conference on Social and Islamic Studies Proceedings of the International Conference on Social and Islamic Studies (SIS) 2021
Publisher : International Conference on Social and Islamic Studies

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In facing the era of openness of society 5.0, an ethical filter is needed with an effort to give meaning to the aesthetic values that are assets of national culture. Value education and 'urf are one of the counter hegemony in the millennial era. The flow of industrialization brings consequences for social change. The existence of a traditional religious system has its own charm. This phenomenon can be seen in the syncretism of the cembengan tradition that took place in sugar factories on the island of Java, especially in this study in Solo Raya. This study aims to describe the history, implementation of picking ‘manten tebu’ cane and the relevance of picking ‘manten tebu’ cane in the syncretism of the Cembengan tradition in terms of value education and 'urf. This research is a field research using primary and secondary data, and Milles and Huberman model analysis techniques. The results of this study show that the harmony of the community around the sugar factory in Solo Raya as a multicultural society can be seen from the ritual symbols and spiritual symbols in the Cembengan tradition which contains syncretism between Confucianism-Islam-Javanese which is integrated into mystical cultural discourse. The phenomenon of the procession of marrying ‘tebu’ cane/cembengan in the procession of the cane ‘manten tebu’ carnival is followed by the ijab qobul led by the penghulu who in this case is represented by the traditional leader and the procession ends with a sukur (the distribution of each ubo rampe). The value education of picking ‘manten tebu’ cane in the synchronization of the cembengan tradition can be seen from religious values and social values. When viewed from the implementation, it includes 'urf fi'li but from its scope it is 'urf Khash because it is only carried out by sugarcane farmers around the sugar factory. And in terms of assessment, it is urf shohih if the belief or belief in carrying out the tradition continues to ask God and will become 'urf fasid if there is a misunderstanding and causes damage to aqidah if it is done to ask the unseen ruler.

PICKING ‘MANTEN TEBU’ CANE IN THE SYNCRETISM OF THE CEMBENGAN TRADITION PERSPECTIVE OF VALUE EDUCATION AND URF' Lila Pangestu Hadiningrum; Siti Rokhaniyah; Ning Karnawijaya
International Conference on Social and Islamic Studies Proceedings of the International Conference on Social and Islamic Studies (SIS) 2021
Publisher : International Conference on Social and Islamic Studies

Show Abstract | Download Original | Original Source | Check in Google Scholar

In facing the era of openness of society 5.0, an ethical filter is needed with an effort to give meaning to the aesthetic values that are assets of national culture. Value education and 'urf are one of the counter hegemony in the millennial era. The flow of industrialization brings consequences for social change. The existence of a traditional religious system has its own charm. This phenomenon can be seen in the syncretism of the cembengan tradition that took place in sugar factories on the island of Java, especially in this study in Solo Raya. This study aims to describe the history, implementation of picking ‘manten tebu’ cane and the relevance of picking ‘manten tebu’ cane in the syncretism of the Cembengan tradition in terms of value education and 'urf. This research is field research using primary and secondary data, and Milles and Huberman model analysis techniques. The results of this study show that the harmony of the community around the sugar factory in Solo Raya as a multicultural society can be seen from the ritual symbols and spiritual symbols in the Cembengan tradition which contains syncretism between Confucianism-Islam-Javanese which is integrated into mystical cultural discourse. The phenomenon of the procession of marrying ‘tebu’ cane/cembengan in the procession of the cane ‘manten tebu’ carnival is followed by the ijab qobul led by the penghulu who in this case is represented by the traditional leader and the procession ends with a sukur (the distribution of each ubo rampe). The value education of picking ‘manten tebu’ cane in the synchronization of the cembengan tradition can be seen from religious values and social values. When viewed from the implementation, it includes 'urf fi'li but from its scope it is 'urf Khash because it is only carried out by sugarcane farmers around the sugar factory. And in terms of assessment, it is urf shohih if the belief or belief in carrying out the tradition continues to ask God and will become 'urf fasid if there is a misunderstanding and causes damage to aqidah if it is done to ask the unseen ruler.

DAMPAK MANAJEMEN LABA TERHADAP ALOKASI INVESTASI PERUSAHAAN Siti Rokhaniyah
Jurnal Akuntansi dan Sistem Teknologi Informasi Vol. 11 (2015): Akuntansi dan Sistem Teknologi Informasi
Publisher : Universitas Slamet Riyadi

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (169.889 KB)

This study examines the earnings management affect the allocation of investment, the manufacturing companies listed on the Indonesia Stock Exchange, in the period 2009 – 2013. Allocation of investment, as the dependent variable, proxies by investment in fixed assets (net property, plan, and equipment), and the independent variables, earnings management is proxies by discretionary accruals that calculated following the model of Jones modification. This is because this model is the best model (Dechow, et al, 2002) as separate components of discretionary accruals and non-discretionary accruals. To obtain more accurate results we use several control variables, including fixed asset investment of the previous period, investment opportunity, asset growth, and net operating cash flow. The results showed that earnings management, both this period (t) and the previous period (t-1) has positive significant effect on the allocation of investment companies. That is that the higher the earnings management (DA), the allocation of investment companies will be higher, and there is a tendency companies to invest in excess (over-investment). Therefore, we need a certain mechanism that can affect managers in making investment decisions more efficiently. Equity-based compensation can anticipate the negative effect. With the equity-based compensation, earnings management is suspected influence on the allocation of investment is not significant. Keywords: allocation of investment, earnings management, discretionary accrual

PENGARUH INDIKATOR FUNDAMENTAL DAN MAKROEKONOMI TERHADAP HARGA SAHAM YANG TERGABUNG DALAM ISSI Siti Rokhaniyah
AKUNTANSI DEWANTARA Vol 4 No 1 (2020): AKUNTANSI DEWANTARA VOL. 4 NO. 1 APRIL 2020
Publisher : Universitas Sarjanawiyata Tamansiswa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26460/ad.v4i1.5840

This study examined the effect of fundamental and macroeconomic indicators on the stock prices of companies listed in the Indeks Saham Syariah Indonesia (ISSI). Fundamental indicators were proxied by EPS, PER, ROE, and DER. Meanwhile, macroeconomic indicators are represented by inflation and world oil prices. This study uses a quantitative approach with penel data regression analysis. The model was determined by the results of the chow test, the hausman test, and the langrange multiplier test. The samples used are manufacturing companies registered with ISSI. With a purposive sampling technique, 41 companies were selected as samples. Data is taken from the financial statements of each company in the 2011-2018. The results of panel data regression analysis (fixed effect) show that EPS, ROE, and inflation have a positivelt effected on ISSI stock prices, while DER and world oil prices have a negatively effected on ISSI stock prices. PER has no effected on ISSI stock prices.

PENGARUH MANAJEMEN LABA TERHADAP KEPUTUSAN INVESTASI DENGAN KOMPENSASI BERBASIS EKUITAS SEBAGAI VARIABEL PEMODERASI Siti Rokhaniyah
Jurnal Akuntansi Vol 7 No 1 (2019): JURNAL AKUNTANSI VOL. 7 NO. 1 JUNI 2019
Publisher : Program Studi Akuntansi Fakultas Ekonomi Universitas Sarjanawiyata Tamansiswa

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Earnings management were positively related to investment decisions. When earnings were overstated, there will be over-invest in property, plant, and equipment, so it can be said that earnings management will lead to direct cost to the investor in the form of inefficient investments decisions (McNichols dan Stubben 2008). The efficiency of investment decision can be enhanced by equity-based compensation (Xian, Chen, and Moldousupova 2011). Granting an equity-based compensation may increase loyalty of the manager, because by this mechanism, manager is part of the owner of the company. So, the investment decisions will be more efficient. Another case if managers are only as an executive without any ownership percentage of the company, they will be more likely to pursue a bonus (agency conflict). This study examined the role of equity-based compensation on the relationship between earnings management to investment decisions. Investment decisions were computed by adding the current period investment, earnings management were proxied by discretionary accruals, and equity-based compensations were measured by the ratio of stock options to total compensations. Equity-based compensation is expected to minimize the inefficient investments decisions as a result of earnings management. With opportunistic earnings management assumption, the presumption was proved by regression analysis that conducted on manufacturing firms in the United States on 2009-2012. Therefore, by 95 percent level of confidence, the findings of this study support previous studies which stated that earnings management were positively related to investment decisions. In addition, there are interaction effects of earnings management and equity-based compensations on the association betwen earnings management on investment decisions. Thus, equity-based compensation can reduce the inefficient investments as a result of earnings management. Keywords: investment decisions, earnings management, equity-based compensations

Investigasi Empiris: Tata Kelola Perusahaan, Kesulitan Keuangan, dan Penghindaran Pajak Siti Rokhaniyah
InFestasi Vol 17, No 1 (2021): JUNI
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v17i1.10471

This research aims to examine the effect of corporate governance on corporate financial distress, and its impact on tax avoidance. Corporate governance is proxied by institutional ownership, the board of commissioners and the audit committee. Financial distress is measured by the Altman z-score, and tax avoidance is assessed by the ratio between the payment of income tax to profit before tax. The research objectives will be tested empirically with data from annual reports on active companies in the Jakarta Islamic Index from 2016 to 2019. Empirical data testing is carried out with path analysis that applies an error tolerance of 5 percent. The results of the analysis concluded that the elements of corporate governance, which consist of institutional ownership, the board of commissioners, and the audit committee have a negative effect on the company's financial distress and it have a negative impact on tax avoidance. Meanwhile, in a direct test of corporate governance on tax avoidance, empirical evidence is obtained that the audit committee and the board of commissioners have a direct negative effect on tax avoidance. Institutional ownership does not have a direct effect on tax avoidance. Penelitian ini bertujuan untuk menguji pengaruh tata kelola perusahaan terhadap kesulitan keuangan perusahaan, serta dampaknya terhadap penghindaran pajak. Tata kelola perusahaan diproksikan dengan kepemilikan institusi, dewan komisaris, dan komite audit. Kesulitan keuangan diukur dengan Altman z-score, sedangkan penghindaran pajak dinilai dengan rasio antara nominal pembayaran pajak penghasilan terhadap laba sebelum pajak. Tujuan penelitian akan diuji secara empiris dengan data dari laporan tahunan pada perusahaan aktif di Jakarta Islamic Index tahun 2016 hingga 2019. Pengujian data empiris dilakukan dengan analisis jalur. Hasil analisis menyimpulkan bahwa unsur tata kelola perusahaan, yang terdiri atas kepemilikan institusi, dewan komisaris, dan komite audit berpengaruh negatif terhadap kesulitan keuangan perusahaan dan secara lebih lanjut berdampak negatif terhadap penghindaran pajak. Sementara itu, pada pengujian langsung antara tata kelola perusahaan terhadap penghindaran pajak diperoleh bukti empiris bahwa komite audit dan dewan komisaris berpengaruh negatif secara langsung terhadap penghindaran pajak. Kepemilikan institusi tidak memiliki pengaruh secara langsung terhadap penghindaran pajak. Temuan lainnya adalah bahwa komite audit dan dewan komisaris melalui kesulitan keuangan berpengaruh signifikan terhadap penghindaran pajak. Sedangkan kepemilikan institusi melalui kesulitan keuangan tidak berdampak signifikan terhadap penghindaran pajak.

Pegadaian Digital Service Ning Karnawijaya; Siti Rokhaniyah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 4 No 3 (2022): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

This study aims to determine the effect of Pegadaian Digital Service (PDS) on the financial inclusion of sharia business segments. The study was conducted using secondary data and analyzed by quantitative and qualitative methods. Quantitative method used the t-test to determine the significance of the effect of PDS on the financial inclusion of sharia business segments. The t-test was conducted two years before the release of PDS (2016-2017) and the two years after released of PDS (2018-2019). Sharia business segments in this study are sharia pawn bussiness (rahn) and micro fiducia sharia business (Arrum and Amanah). Furthermore, qualitative analysis is to find the right modeling for optimizing PDS in increasing financial inclusion in sharia business segments. The results showed that in the two years after the released of PDS the turnover, outstanding loan, and mu'nah revenue had a very significant increasing. There were strong correlations and significant differences in the achievement of turnover, outstanding loans, and mu’nah revenue between before and after the PDS, both in sharia pawn business (Rahn), Arrum and Amanah products. The results of empirical testing proved that PDS was supporting the acceleration of financial inclusion programs, especially in the sharia business segment at PT. Pegadaian. Optimizing PDS in increasing financial inclusion in sharia business segments can be done by developing a product based PDS optimization model.

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