UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Analysis of Capital Structure and Profitability on Firm Value of Companies Listed on the Sharia Stock List
Get PDFPurpose: This study aims to analyse the capital structure and profitability on the firm value on the Sharia Stock List.
Methodology: This study uses independent variables of capital structure, namely Debt to Equity Ratio (DER) and profitability (ROE). The dependent variable is firm value as measured by Tobin\u27s Q variable. The research method is descriptive quantitative research using hypothesis testing.
Findings: The results of this study are the capital structure variable partially has a negative and significant effect on firm value. Profitability variable partially has a negative and significant effect on firm value.
Novelty: Researcher try to identify and further examine the effect of capital structure and profitability on the value of Sharia Stock List
Does Doing Good Diminish Cost of Capital? Evidence From South-East Asia Markets
Get PDFPurpose: The ultimate goal of this study is to reassess the impact of ESG on the cost of capital.
Methodology: This work is quantitative type using secondary data collected by Thomson & Reuters and World Bank. There are 247 sample companies in the 2009 – 2021 period spread across five Southeast Asian countries. The research uses the fixed effect method at the industrial level and the instrumental variable regression technique, which is estimated using the generalized moment (GMM) method to accommodate endogeneity.
Findings: The ESG, ENVI, and SOCI coefficients are negative and statistically significant at the 1% level, further confirming that ESG performance is negatively associated with the cost of capital. Environmental and social aspects determine the level of the cost of capital. Meanwhile, governance issues are not a determining factor that can reduce the cost of capital.
Novelty: Numerous studies have revealed inconclusive outcomes regarding the effectiveness of ESG in decreasing the cost of capital, particularly in Asian nations owing to their subpar institutional quality. This research seeks to bridge this gap by examining this relationship in the Southeast Asian countries.
Keywords: Environment, Social, Governance, Cost of Capital, South-East Asi
Capital Market Knowledge, Return, Risk Perception, Technological Advancement, and Investment Interest in Social Media : (Case Study on Followers of the Instagram Account of @ngertisaham)
Get PDFPurpose: This study aims to determine and investigate the effect of capital market knowledge, return, risk perception, and technological advancement on investment interest in social media.
Methodology: The present study employs a descriptive research design that utilizes quantitative methods. The study\u27s population consisted of followers of the @ngertisaham account on Instagram. A sample of 100 respondents was collected using the Slovin formula. The data collection methodology applies a questionnaire, and next, the acquired data is processed employing the IBM SPSS Statistics version 25 software application. The data analysis technique uses a validity test, reliability test, classical assumption test, and hypothesis testing (multiple linear regression analysis, coefficient of determination, f-test, and t-test).
Findings: The findings of this study show that there is only a partial relationship between capital market knowledge, technological advancement, and investment interest among Instagram followers of the @ngertisaham account. However, this relationship is not significant. In contrast, the return and risk perception variables show positive and statistically significant effects on investment interest among Instagram followers of the @ngertisaham account.
Novelty: The novelty aspect of this study is using respondents of Instagram followers of the @ngertisaham account
The Influence of Intellectual Capital on the Performance of Employees: A Case Study of PT BPR Syariah Bangun Drajat Warga
Get PDFThe performance of employees is very influential for the success of an organization or company. To achieve the company goals, every company needs good performance from employees, both quality and quantity. This research was conducted to analyze how the influence of intellectual capital, consisting of human capital, structural capital, and customer capital, to the performance of employees of PT BPR Syariah Bangun Drajat Warga. This research uses the saturated sampling technique, which utilized all employees of PT BPR Syariah Bangun Drajat Warga as samples. This research uses primary data obtained from the survey using questionnaires and interviews. The data analysis methods in this research are validity testing, reliability testing, classical assumption testing, and multiple linear regression analysis using IBM SPSS Statistics 19. The results show that human capital and structural capital do not have a significant positive influence on the performance of employees. However, customer capital has a significant positive influence on the performance of employees
Do Social & Psychological Factors Affect Investment Intention in Islamic Capital Markets?
Get PDFThis research aimed to predict social and psychological factors affecting individual investment decision in the Islamic capital market. Furthermore, the Theory of Planned Behavior Model (TPB) was used to explain irrational investor decisions affected by cognitive biases. We attempted to correct the pessimistic view of investors on the Islamic capital market using social & psychological perspectives. This study used a self-administered survey and obtained 82 investors and non-investors as respondents. The main criteria of individuals selected as respondents of the study were those who knew about the stock market and have heard the term Islamic capital market. This paper provided empirical insights on how the TPB model successfully explains the variance of change in investment intention. The results indicated that all predictors had a significant positive effect on individual investment intention. Individuals tend to exhibit a cognitive bias that lead to irrational decisions because individual’s attitude and PBC shape false perception of the usefulness of the Sharia capital market
Indonesian Muslim Consumers\u27 Perspectives and Behavior on Intentions to Use Islamic Financial Products Post-Covid-19
Get PDFThis study was motivated by the importance of exploring the factors that influence people\u27s intentions to buy or use Islamic financial products during the Covid-19 pandemic in Indonesia. Research with quantitative technique was carried out in the form of an online survey and tested using the structural equation model (SEM) method with the SmartPLS version 3.0M application. Sampling in this study used convenience sampling technique and obtained 456 respondents. The results of this study showed that almost all variables, namely religiosity, subjective norms, Islamic financial literacy, awareness, perceived behavioral control and attitudes were proven to be strong predictors of intention to use Islamic financial products. This research provides recommendations to various parties, both financial institutions, Islamic organizations and even the government need to collaborate to strengthen the level of Islamic financial literacy in the community. In addition, this study also provides recommendations to build public trust in the Islamic economy, especially Islamic banking through collaborative development of an Islamic economic roadmap including strengthening the role of Islamic banking both in terms of infrastructure and human resources. Various parties must come together to build a strong Islamic financial ecosystem and economic recovery post-Covid-19 to develop a prosperous and prosperous Indonesian economy in accordance with Islamic ideals as Rahmatan lil \u27Alamin
The Effect of Profitability, Financial Leverage, and Accounting Expertise of The Board of Commissioners on Earnings Management
Get PDFPurpose: This study examines the impact of profitability, financial leverage, and accounting expertise of the board of commissioners on earnings management practices. Earnings management is a serious problem for some companies with unstable financial conditions. Therefore, it is important to know the factors that can encourage earnings management
Methodology: This research is quantitative research. The sample in this study were 92 manufacturing companies listed on the IDX in 2015 – 2019. Data analysis used panel data regression through E-views.
Findings: The results of this study indicate that profitability and financial leverage are determinants of earnings management. Other results show that the accounting expertise of the board of commissioners has no effect on earnings management practices.
Novelty: Most of the previous research focused on the aspect of the number of the board of commissioners in mitigating earnings management, this study tries to analyze a more specific factor, namely the accounting expertise of the board of commissioners because board members who understand accounting will more easily find errors in financial statement disclosures.
Keywords: Leverage, Earnings Management, Profitability, Financial leverage, Accounting Expertis
Pengaruh Resilience dan Emotional Intelligence Karyawan pada Masa Pandemi Covid-19: Work Engagement Sebagai Intervening
Get PDFResearch Aims: This study aims to determine the effect of resilience and emotional intelligence during the pandemi Covid-19 at BPRS Bangun Drajat Warga Yoyakarta through work engagement as an intervening variable.
Design/methodology/approach: The sampling technique used is purposive sampling. The population in this study were 38 employees of BPRS Bangun Drajat Warga Yogyakarta. The data collection methods used were questionnaires and interviews, and the data analysis tools used were multiple linear regression and path analysis using software IBM SPSS 25.0.
Research Findings: The results of this study indicate that the resilience variable does not affect work engagement but does affect employee performance during the pandemi Covid-19, the emotional intelligence variable does affect work engagement but does not affect employee performance during the pandemi Covid-19, the work engagement variable affect employee performance during the pandemi Covid-19, and the work engagement variable was unable to mediate the effect of resilience on employee performance but was able to mediate the effect of emotional intelligence on employee performance during the pandemi Covid-19 at BPRS Bangun Drajat Warga Yogyakarta
The Influence of the Destination of IPO Capital Resources on the Shares Return
Get PDFIn the IPO process, a prospectus is published that gathers relevant information for investors, including the funds raised destination. This study involved data from the period that covered two important crises for the Brazilian market – Subprime, in 2008, and President Impeachment, in 2016 – that preceded the actual Covid19 Crisis. From a sample of 103 IPOs that occurred between 2006 and 2015, historical series of stock quotes from 2006 to 2017, and using the event study procedure, we verified whether there were differences between the cumulative abnormal returns in the period after the IPO, of two groups of shares. One group was composed of companies that disclosed that the funds raised in the IPO would be used for direct investments (production, technologies, acquisitions, etc.), and the other group was composed of companies that announced that the resources would be applied in other destinations (indebtedness, working capital, credit to clients, etc.). We also seek to explain the behavior of returns accumulated abnormal returns, considering multiple linear regressions based on seven independent variables. The results showed that the announcement of direct investments with the funds raised in the IPO can generate positive abnormal returns in the very short term and showed signs of a relationship between the investment information and the behavior of the abnormal returns accumulated over one year after the IPO
Does Borrower Domicile Influence the Credit Default in P2P Lending? Preliminary Analysis from Indonesia
Get PDFPurpose: Credit risk is one of the most fundamental risks that P2P lending platforms have. The magnitude of information asymmetry, consumer behavior, and the unequal distribution of financial literacy make credit risk in P2P lending more vulnerable in several parts of Indonesia. The purpose of this study was to determine the domicile of the borrower on the credit risk in P2P lending
Methodology: We use time series data from January 2018-December 2021 for analysis. Vector Error Correction Model (VECM) is used to analyze the data.
Findings: The results show that borrowers domiciled outside Java influence the credit default significantly positively, while borrowers domiciled in Java influence credit default significantly negatively. Moreover, interest rate influences positively significant on P2P lending default, while inflation influences positively on P2P lending default.
Novelty: this paper is the first paper to analyze the P2P credit default in Indonesia using time series analysis.