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INDONESIA
Tazkia Islamic Finance and Business Review
ISSN : 24600717     EISSN : 24600717     DOI : -
Core Subject : Economy,
Tazkia Islamic Finance and Business Review (TIFBR) is a peer-reviewed journal published by the Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics in collaboration with Association of Islamic Economics Lecturers (ADESY). The Journal is semi-annual journal issued in July and December. The aim of the journal is to disseminate Islamic Economics, finance and business researches done by researchers both from Indonesia and overseas.
Arjuna Subject : -
Articles 5 Documents
Search results for , issue " Vol 6, No 2 (2011)" : 5 Documents clear
ANALISIS DETERMINAN PERINGKAT SUKUK DAN PERINGKAT OBLIGASI DI INDONESIA Sudaryanti, Neneng; Mahfud, Akhmad Affandi; Wulandari, Ries
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This study attempts to analyze the determinants of sukuk and bond rating in Indonesia. The purpose of this study is to determine factors influencing sukuk and bond rating using separate test. The study uses financial and non financial ratios such as company growth, firm size, profitability, liquidity, leverage ratio, and sukuk and bond maturity. This study examines corporate sukuk and bond that listed from 2004-2006 (9 sukuk and 15 bonds) at Indonesian Stock Exchange for the period of 2007-2009. This research employs ordinal logistic regression. The result of the study reveales that only firm size variable determines sukuk rating while others are not (growth, profitability, liquidity, leverage ratio and maturity). Firm size, profitability, and maturity influences the bond rating above 5 years while growth, liquidity, and leverage ratio are not significantly influence the bond rating.JEL Classification: E44,G11Key words: sukuk rating,bond rating,ordinal logistic regression
PENGARUH VARIABEL MAKRO DAN MIKRO TERHADAP NPL PERBANKAN KONVENSIONAL DAN NPF PERBANKAN SYARIAH Poetry, Zakiyah Dwi; Sanrego, Yulizar Djamaluddin
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This research attempts to identify the effect of macro and micro variables to NPL (Non Performing Loan) in conventional banking and NPF (Non Performing Financing) in syariah banking. The macro and micro variables used in this research are IPI (Industrial Production Index), inflation, exchange rate, SWBI/SBIS (Sertifikat Wadiah Bank Indonesia/Sertifikat Bank Indonesia Syariah), SBI (Sertifikat Bank Indonesia), LDR (Loan to Deposit Ratio), FDR (Financing to Deposit Ratio), and CAR (Capital Adequacy Ratio).This research finds that in short run, there is no significant variables effecting NPL and NPF. In long run significant variables effecting NPL are exchange rate, IPI, inflation, SBI, LDR, and CAR and significant variables effecting NPF are lnER, lnIPI, inflasi, SBIS, FDR_BS, and CAR. According to the IRF result, this research finds that NPF in islamic banking is more stable than NPL in conventional banking to deal with macro and micro variables fluctuation. According to FEVD variables affecting NPL in conventional banking are inflation and SBI; variable affecting NPF in syariah banking is only FDR.JEL Classification: D81,G21Keywords: Non Performing Loan, Non Performing Financing
HUBUNGAN LANGSUNG DAN TIDAK LANGSUNG ANTARA PARTISIPASI ANGGARAN DAN KINERJA MANAJERIAL MELALUI KOMITMEN ORGANISASI PADA INDUSTRI PERBANKAN SYARIAH DI INDONESIA Hasmawati, Anisza; Laela, Sugiyarti Fatma
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

mediate the relationship between budgetary participation and managerial performance (indirect relationships), and examines the existence of code of ethics as control variable both in direct and indirect relstionship between budgetary participation and managerial performance in Indonesian Sharia Banking Industry. A path analysis is used to examine the direct and indirect effects of budgetary participation on managerial performance. There is a direct relationship between budgetary participation and managerial performance, but not supported code of ethics as control variable. Budgetary participation affects organizational commitment. There is no relationship between organizational commitment and managerial performance so indirect relationship between budgetary participation and managerial perfomance through organizational commitment is not supported. This research only involved one moderating variable, organizational commitment, when other researchs could bring another moderating variables to examine indirect relationship between budgetary participation and managerial performance. Budgetary participation improves managerial performance in Indonesia Sharia Banking directly as a consequence of management involvement in the budgetary processJEL Classification : M41, C19Keywords : Budgetary participative, managerial performance, code of ethics, organizational commitment, Path Analysis
ANALISA DAMPAK KONVERGENSI IFRS KE DALAM PSAK 13, 16, DAN 30 TERHADAP AKTIVITAS PERDAGANGAN SAHAM PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Maulana, Arya; Mukhlisin, Murniati
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

The application of PSAK has been revised in reference with the IAS in the convergence of IFRS perspective. The objective of the research is to elaborate influence of this application on Trading Volume Activity (TVA) companies that implement it. This research uses quantitative method that focus to a single incident within a certain period of publication an annual financial statements of 56 companies who implemented PSAK 13, 16, and 30 revised in 2007. This study indicates that the publication of financial statements has not give a significant influence on the TVA despite there is an increase in trading activity at the time after publication.JEL Classification : M 41, L51Keywords : IAS, PSAK, Financial Statement Publication, Trading Volume Activity
MENGURAI MASALAH PENGEMBANGAN SUKUK KORPORASI INDONESIA MENGGUNAKAN ANALYTIC NETWORK PROCESS Dewi, Nila
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Sukuk as an instrument of Islamic finance has created the competitive advantages for the practitioners of Islamic finance, which it can contribute of funding mobilization in economic development. Although in size of issuance and emission growing rapidly, but the growth of sukuk has slow moving. These causes are consist of 1) emiten problem: lack of commitment, understanding, averse to risk, and low of corporate rating; 2) investor problem: lack of knowledge, averse to risk, diversification, profitoriented/floating majority; 3) supporting problem: incentive, taxation, socialization, understanding of underwriter; 4) market problem: conventional dominant, lack of instruments, low of size of issuance, liquidity of secondary market. Therefore, this study try to identifies some causes, factors and hindrances the development of corporate sukuk in Indonesia. The results show that the primary problems come from: 1) lack of understanding (emiten); liquidity of secondary market (market); 3) lack of knowledge (investor); 4) incentive (supporting); 5) low of size of issuance. The primary solutions are: 1) intensive socialization; 2) encouragement to state owned corporation; 3) taxation regulation; 4) product innovation; 5) incentive. Furthermore, the levels of agreement among respondents (Kendall’s coefficient) conclude that practitioners show higher rater agreement than that of experts. Therefore, in applying of sukuk, appraisal and opinion of practitioners can be used in considering.JEL Classification : C14, G39Keywords : ANP, Sukuk Corporate

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