UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Did Global Financial Crisis Impact the Islamic Banking Efficiencies? Evidence from Malaysian Islamic Banks
Get PDFFirst, this paper investigated the loan and deposit efficiencies of Malaysian Islamic banks during 2008-2013 applying the non-parametric technique, Data Envelopment Analysis (DEA), and found that the average technical efficiency (TE) of loan financing was 83%, 88%, 87%, 95%, 100%, and 94% and the average technical efficiency for deposit mobilizations was 87%, 94%, 94%, 96%, 92%, and 96%. Only four banks in 2008, two bank in 2009, three banks in 2010, two banks in 2011-2013 are both technically and scale efficient in loan production. On the other hand, only four banks in 2008 and 2009, five banks in 2010 and 2011, three banks in 2012, and five banks in 2013 are both technical and scale efficient in deposit mobilizations. Second, the paper compares the efficiencies of Islamic banks between the global financial crisis (GFC) and the post global financial crisis (PGFC) in determining whether the efficiencies of banks between the GFCP and PGFCP are stable. Both parametric and non-parametric tests found no significant difference in the efficiencies between the two periods suggesting that the efficiencies of the Malaysian Islamic banks were stable
Islamic Currency Swap: Can Be The Best Way to Hedge Indonesia Hajj Fund?
Get PDFThe operational costs of Hajj in foreign currencies will always face the risk of changes in exchange rates. Hajj operational costs will continue to grow in line with the increasing number of pilgrims. But at present, the government (BPKH) does not have a currency hedging policy to reduce the risk of fluctuating currency values. Hajj operational costs are saved in rupiah, dollar and riyal currencies. As a result, deposits of pilgrims will continue to be overshadowed by the reduction in value due to the depreciation of the rupiah against the dollar and riyals. Hedging policy is a necessity in the management of Hajj funds. This study will use an Islamic currency swap simulation analysis. According to the MUI DSN No 96 in 2015, a swap is a contract that starts a spot transaction followed by a forward agreement by setting a forward exchange rate. Then it is settled by spot transactions using the agreed forward exchange rate. The results of the study show that the dollar and riyal in 2018 are in a state of high volatility, so hedging is needed to reduce cash outflows. Based on analysis, Islamic currency swap can be the best hedging to the operational costs of Hajj in USD is with tenors 30 days, 180 days, 360 days. while the operational costs of Hajj are in Saudi Arabia Riyal currency, efficient in overnight tenors, 30 days, 90 days and 180 days.
KESIAPAN PERBANKAN SYARI’AH DI INDONESIA DALAM PENERAPAN LIQUIDITY COVERAGE RATIO BASEL III
Get PDFAbstract2008 crisis was hypothetically to be an impact of particular condition in which banking around the countries had the high degree of leverage and decrease the bank capital quality. The other influencing factors are the quality of corporate governance and the quality of risk management. Having seen these challenges, Basel Committee on Banking Supervision (BCBS) published a document of “Basel III: Global Regulatory Framework for More Resilient Banks and Banking Systems” on Desember 2010 as the new initiation.The scopes of Basel III are, (1) Empowering the Global Capital Framework, (2) Recognizing the Global Liquidity. This research works on providing an implementation prospect of global liquidity standard to Indonesian Syariah Banking.The results show that the average of syariah banking LCR has only reached 51,6% that means there must be certain improvement to minimally reach 60% before January 2015 2015. Furthermore, the yearly growth of LCR which stands on 3,22% in average is claimed to be far from the yearly targeted increase whisch is 10%, Thus, this current study suggest syariah banking to put an effort by uplifting the HQLA using the funding strategy to absorb more deposits. Keywords: Basel III, Liquidity Coverage Ratio, Syariah bankin
VARIAN ANGGARAN DAN PERAN AKUNTANSI PERTANGGUNGJAWABAN PADA PENGANGGARAN PEMERINTAH DAERAH
Get PDFABSTRACTBudget variance plays important roles in Indonesian Local Government budgeting. The use of budget variance through budgeting highlight the incrementalism of budget which define the budget setter’s behavioral bias through ratchet effect. Ratchet effect occurs when budget setter use prior period performance (i.e budget variance) as basis to determine the upcoming budget as a consequences of the dynamic incentives problems in agency relation context. This study aims to find whether ratchet effecct occur in public sector budgeting, especially in Indonesian local government budgeting. Further, this research examine the role of responsibility accounting in explaining the presence of ratchet effect in Local Government budget. This study use Local Government Task Force (SKPD) of Yogyakarta Special Region Province Government as research object for research period between 2012 to 2016. Selection of sample derived using purposive sampling to 31 SKPD and generates 17 sample which has Region Original Revenue (PAD) component and so 28 sample which has Direct Expenditure component in each of it’s budget structure. Multiple Linear Regresion and Independent Samples Test were used to test the hypotheses.The result shows that all research hypotheses statistically accepted. This research generate evidence the occurence of ratchet effect and the important role of responsibility accounting in local government budgeting.Keyword: Budget Variances, Ratchet Effect, Responsibility Accounting, Local Government Budgeting, Region Origin Revenue (PAD), Direct Expenditure. INTISARI Varian anggaran merupakan informasi penting dalam penyusunan anggaran pemerintah daerah di Indonesia. Penggunaan varian anggaran dalam penganggaran mengandung aspek inkrementalisme dalam bentuk efek ratchet yang muncul akibat bias perilaku penyusun anggaran. Efek ratchet muncul ketika perencana angggaran menentukan target anggaran berdasarkan capaian kinerja anggaran periode sebelumnya sebagai akibat adanya persoalan insentif dinamik dalam konteks hubungan keagenan. Penelitian ini dilakukan untuk mengetahui adanya efek ratchet dalam penganggaran pemerintah daerah di Indonesia. Lebih lanjut, penelitian ini mengevaluasi peran akuntansi pertanggungjawaban dalam menjelaskan munculnya efek ratchet dalam anggaran pemerintah daerah. Penelitian ini menggunakan sampel Satuan Kerja Perangkat Daerah (SKPD) di lingkup Pemerintah Provinsi Daerah Istimewa Yogyakarta pada periode 2012-2016. Pemilihan sampel dilakukan dengan metode sampel purposif atas 31 SKPD dan menghasilkan 17 sampel SKPD yang memiliki komponen Pendapatan Asli Daerah (PAD) dan 28 sampel SKPD yang memiliki komponen Belanja Langsung dalam struktur anggarannya. Analisis yang digunakan untuk pengujian hipotesis adalah analisis regresi linier berganda dan independent samples test. Hasil penelitian menunjukkan semua hipotesis penelitian ini terdukung secara statistik. Hasil penelitian ini membuktikan adanya efek ratchet dan peran penting akuntansi pertanggungjawaban dalam penyusunan anggaran pemerintah daerah.Kata Kunci: Varian Anggaran, Efek Ratchet, Akuntansi Pertanggungjawaban, Penganggaran Pemerintah Daerah, Pendapatan Asli Daerah, Belanja Langsung
PENGARUH INVESTASI, PENGELUARAN PEMERINTAH DAN TENAGA KERJA TERHADAP PDRB PROVINSI BANTEN
Get PDFThe research based on economic growth neo clasic model which develop by Abramovits and Solow, they say the economic growth (in area measurment by growth of gross regional domestic product). Its depent on production factors such as capital, labor and tecnology. Althought capital based on investment and goverment expediture. While labor based on labor force work. The research focus is how investment, goverment expediture and labor according simultant and partial to gross regional domestic product of district in Banten Province. The aims of teh research in to knowing the influence of invesment, goverment expenditure and labor togross regional domestic product of district in Banten Province 2010-2015 period. The method used in this research is regression analysis of panel data and supporting sofware from eviews 9. The research study concluded invesment, goverment expenditure and labor with simultant and partial was positive and significant impact on the gross regional domestic product of district in Banten Province, so in an effort to increase GDP it is necessary that the role of local government through government policies and expenditures is expected to stimulate increased investment and employment generation in order to achieve economic growth and increase in income per capita society. Key Word : Invesment, Goverment Expenditure, Labor, GD
Influence of Internal and External Governance Mechanisms on Corporate Governance Disclosure among Islamic and Conventional Banks
Get PDFThe purpose of this paper is to investigate the extent of corporate governance disclosure in the annual reports of listed conventional and Islamic banks in Bangladesh. Out of fifty-six scheduled banks in Bangladesh, a sample of thirty-nine banks is selected, and data for the sample is extracted from the annual reports covering a period of 2011 to 2014. As such, the study focused on the extent of CGC after the stock market crisis in 2010 in Bangladesh. This results in the final observations of 116 which were used to perform balanced panel regression analysis. Fixed effect model is found significant for the balanced panel model which indicates that appointment of large audit firms negatively affects the extent of corporate governance compliance. Pooled OLS regression established that while profitability has a negative influence, the size of banks positively affects the extent of CGC. This study has focused on the commercial banks and thus results obtained from the study may not be representative for public and foreign banks operating in Bangladesh. Statistical evidence provided by the study provides guidelines for the policymakers toward necessary governance reforms required for banks to successfully operate in a post-crisis environment. Factors established by the study that influences corporate governance compliance using a balanced panel model are unique in the context of developing countries. Evidence of a difference in governance compliance between Islamic and conventional banks in Bangladesh establishes a new research arena and a necessary shift from the traditional performance comparisons
Factors Influence Intention to Opt for Islamic Investment Schemes among Market Players
Get PDFEmploying theory of reasoned action with religiosity as its additional construct in the model, this paper is aimed at examining factors influence the intention of investors to opt Islamic investment schemes in Malaysia Islamic capital markets. As many as 120 questionnaires were collected from market players in Bursa Malaysia using online survey. Afterwards, the data collected were analyzed using structural equation model to reveal the relationship of variables tested in the proposed model. The result shows that religiosity and subjective norms appeared to be the significant factors affecting intention to choose Islamic investment schemes in Malaysia Islamic capital markets. Interestingly, despite its significant role shown in previous studies, this study has shown insignificant level of the attitude in predicting the intention behavior. The managerial implications are discussed in this paper. Keywords: Investors’ behavior, Islamic investment, Bursa Malaysi
KONTRIBUSI AUDIT INTERNAL TERHADAP MANAGEMEN RISIKO
Get PDFAbstractRisks always exist in a business activity of an organization. Risks are closely related to the differences between the results and the expectations. Risk management focuses on the anticipatory actions by recognizing potential risks and influences. Risk management is part of the entity’s internal control in which the main responsibility is in the hand of the company manager or the entity. Internal auditor as the employee or the internal party has the duty to implement the risk management. Internal auditor conducts an audit process towards internal control and gives assurance in the process of risk management. The internal auditor who takes part in consultation role can assist the organization in identifying, evaluating, and implementing relevant risk management and risk control methodologies. Risk management procedures are identifying risks, constructing plans, and determining solutions. Some of the solutions are avoiding, minimizing, removing, or accepting the risks. Keywords: risk, anticipatory, internal controlAbstrakRisiko melekat pada suatu aktivitas bisnis organisasi. Risiko terkait erat antara ketidaksesuaian hasil dengan yang diharapkan. Managemen risiko merupakan suatu tindakan untuk mengurangi ketidakpastian yang berfokus pada tindakan antisipasi/pencegahan, dengan cara mengidentifikasi risiko yang mungkin terjadi sekaligus dampak yang mungkin ditimbulkan. Managemen risiko merupakan bagian dari pengendalian internal entitas yang tanggung jawab utamanya di tangan manager perusahaan atau entitas. Auditor internal selaku pegawai atau pihak internal perusahaan juga memiliki tugas atau kewajiban atas pelaksanaan managemen risiko. Audit internal melakukan proses audit terhadap pengendalian internal dan memberikan keyakinan terhadap proses managemen risiko. Auditor internal memiliki peran konsultasi yang dapat membantu organisasi dalam mengidentifikasi, mengevaluasi, dan menerapkan metodologi managemen risiko dan pengendalian yang relevan. Langkah-langkah yang harus dilakukan dalam managemen risiko adalah identifikasi risiko, membuat perencanaan, dan menentukan cara penanganannya. Penangannya risiko dapat dilakukan dengan cara yaitu menghindari, mengurangi, memindahkan, atau menerima risiko tersebut.Kata kunci: risiko, antisipasi/pencegahan, pengendalian interna
PENGENTASAN KEMISKINAN BERBASIS DASAWISMA (ANALISIS KRITIS PROGRAM ANTIKEMISKINAN)
No full textAbstractEvaluate to program of policy to against poorness require to be done to get the model or more effective policy strategy. Strategy which on the market by emphasizing at participation of entire citizen as well as state requirement to develop the people potency as maximum. Dasawisma as local institutions at the RT level of 10 -20 members of the family, spearheading the success of an existing government programs. This study is a descriptive and comparative analysis, descriptive method is intended to discover concepts related to poverty alleviation based on local institutions. In this case some of the concepts will be presented as they are, to understand the way the mind poverty alleviation system comprehensively. The comparative method was intended to compare the concept that local institutions and other bases to be elaborated in a new concept of poverty alleviation by dasawisma basis.Conclusion from this research is policy to against poorness base on the dasawisma require not only a way of newly think of the policy content, but also the way of newly think of the policy structure. Keyword: strategy, poverty, dasawisma AbstrakEvaluasi terhadap program kebijakan pengentasan kemiskinan perlu dilakukan untuk mendapatkan model atau strategi kebijakan yang lebih efektif. Strategi yang ditawarkan adalah dengan menekankan pada partisipasi seluruh warga negara dan juga kebutuhan negara untuk mengembangkan potensi rakyat dengan semaksimal mungkin. Dasawisma sebagai institusi lokal di tingkat RT yang terdiri dari 10 -20 anggota keluarga, menjadi ujung tombak keberhasilan suatu program pemerintah yang ada. Penelitian ini bersifat deskriptis, komparatif analisis, dengan metode deskriptif dimaksudkan untuk menemukan konsep yang berkaitan dengan pengentasan kemiskinan berbasis institusi lokal. Dalam hal ini beberapa konsep akan dipaparkan sebagaimana adanya, untuk memahami jalan pikiran sistem pengentasan kemiskinan secara komperhensif. Metode komparatif dimaksudkan untuk membandingkan konsep yang sudah dan basis institusi lokal yang lain untuk dielaborasi dalam sebuah konsep baru pengentasan kemiskinan dengan basis dasawisma. Kesimpulan dari penelitian ini adalah kebijakan pengentasan kemiskinan berbasis dasawisma membutuhkan tidak hanya sebuah cara baru berpikir tentang isi kebijakan, tetapi juga cara baru berpikir tentang struktur kebijakan.Kata Kunci: strategi, kemiskinan, dasawism
TEORI DASAR EKONOMI MIKRO DALAM LITERATUR ISLAM KLASIK
Get PDFEkonomi Islam sebagai ilmu pengetahuan yang lahir sebagai alternatif dari ekonomi Konvensional yang sudah memperlihatkan kegagalannya dalam menciptakan kesejahteraan bagi seluruh manusia. Di samping itu ilmu ekonomi Islam juga dianggap sebagai ilmu “baru” yang sama sekali terlepas dari sejarah ekonomi dunia. Ilmu ekonomi Konvensional dianggap lahir dari vacuum dan tidak ada peran keilmuan Islam dalam perkembangan sejarahnya sebagaimana dinyatakan Schumpeter dalam the great gap-nya. Padahal beberapa ilmuwan justru menulis bahwa ilmu pengetahuan Yunani-Helenistik sampai ke tangan kaum terpelajar modern Eropa sekarang adalah berkat tangan Muslim yang memodifikasinya dan memberikan nilai tambah padanya sebagaimana dinyatakan oleh Mehdi Nakosteen. Untuk itu, diperlukan penelusuran keberadaan teori-teori ekonomi Konvensional dalam literatur Islam klasik. Untuk membuktikan bahwa Ilmu Ekonomi Konvensional bukanlah berangkat dari vacuum dan bahwa Ilmu Ekonomi Islam merupakan bagian dari sejarah kelahiran ekonomi Konvensional. Pada beberapa literatur Islam klasik akan kita temukan beberapa teori dasar ekonomi Konvensional yang tidak hanya mirip tapi juga persis sama secara utuh. Pada literature Islam klasik akan kita temukan teori dasar seperti kebutuhan manusia yang tidak terbatas, teori nilai, teori produksi, teori penawaran dan permintaan, mekanisme harga pasar dan lain-lain. Hal ini memberikan bukti bagi kita bahwa ilmu ekonomi Islam bukanlah hal “baru” yang sama sekali tidak pernah ada dalam sejarah perkembangan ilmu pengetahuan. Bahkan ilmu Ekonomi Islam telah ada sebelum kelahiran ekonomi Konvensional.Islamic Economics as a science that was born as an alternative to conventional economics that has demonstrated its failure in creating prosperity for all human beings. In addition, Islamic economics is also considered as the "new" science, apart from the economic history of the world at all. Conventional economics is considered came up from vacuum and Islamic Economic has no role in the development history of science as Schumpeter stated in the his great gap theory. Though some scientists actually wrote that Greek-Hellenistic science came into the hands of the educated modern Europe today by effort of Muslims schoolar who modifies and adds value to it as stated by Mehdi Nakosteen. Therefore, it`s needed a search of Conventional economic theories in classical Islamic literature. To prove that the Conventional Economic Sciences is not departing from the vacuum and that Islamic Economics is part of the history of the arising of Conventional economics. On some classical Islamic literature we will find some basic economic theories Conventional not only similar but also exactly the same as a whole. In the classical Islamic literature we would find economic basic theories such unlimited human needs theory, value theory, theory of production, the theory of supply and demand, the market mechanism and others. This provides evidence for us that Islamic economics is not "new" at all and never existed in the history of science. Even the science of Islamic Economics has been there before conventional economics arised.