cover
Filter by Year

Analysis
Articles
67
Articles
BAGAIMANA KEUANGAN ISLAM MENGGUNAKAN FAKTOR DISKONTO DALAM CAPITAL BUDGETING DECISION?

Hanesti, Elsi Mersilia

El Dinar Vol 6, No 2 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

In the conventional financial management, the method of calculating the capital budgeting decision using NPV and IRR, which both use the interest rate as one of its component count (as a discount factor). Then, how Islamic financial management sees this? With the research methods of literature study, this paper is about the financial outlook of Islam the methods of NPV and IRR as well as finding out what the proper method for capital budgeting decision. Results of the study were that in the process capital budgeting decision, the use of NPV and IRR methods are allowed (according Obaidullah, Prof. Shabir F.Ulgener, and Zarqa). The interest rate in the calculation only as a means of simplification and ease in the calculation. The use of a list of compound interest rate (compounded interest) is a tool to calculate the expected rate today and the future. It can be said that the Islamic finance uses a list of compound interest rate as a tool for simplify the calculation, just as a comparison level of opportunity cost in alternative investments. The level of interest in the calculation of these can be replaced with a comparator, such as: the return on the sukuk, the profit sharing ratio, and the return on investment or other real instruments in Islam.

DETERMINAN HOLDING PERIOD JAKARTA ISLAMIC INDEX

Fathani, Nurul Fathani, Oktaviana, Ulfi Kartika

El Dinar Vol 6, No 2 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

Market of financial capital is a good media to distribute the finance from the investors to the companies that need it. The investors give an investation to get a profit in the shape of capital gain or dividend. They can optimize the profit by deciding the golden time to buy or sell the investation. One of the ways to decide when the golden time comes is by looking at the holding period of the investation. A high holding period is showing a good condition of the investation because the investors will hold it when they get the profit optimally. That is also done in the contrary. This research is done to know the impact of market value, bid ask spread, and dividend payout ratio to the holding period. The samples of this research are all of the companies in Jakarta Islamic Index (JII) around 2014-2016 in sum thirteen in which the samples are taken by using purposive sampling. The data is a secular data that is got by the daily and annual report from the research object. Then, the data analysis process that is used is a regressive analysis of panel data with Eviews 9 program. The result of this research shows that, simultaneously, the variable of market value, bid ask spread, and dividend payout ratio is significantly influencing the holding period. Partially, the variable of dividend payout ratio has a positive influence to the holding period significantly, while for the variable of market value, variant return, and bid ask spread do not have a significant influence to the holding period.

DETERMINAN MARGIN KEUNTUNGAN PRODUK PEMBIAYAAN MURABAHAH

Rabbani, Fachri Maulida, Nawirah, Nawirah Nawirah

El Dinar Vol 6, No 2 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

Murabahah financing product at PT. Pegadaian Syariah branch Landungsari Malang, Murabahah Logam Mulia untuk Investasi Abadi (MULIA) is defined as a gold trade financing in a cash or credit in accordance with Sharia laws. This research aims at exploring the determination process of profit margin and the implementation of Standard Operating Procedure in the practice of murabahah financing at PT. Pegadaian Syariah  branch of Landungsari Malang. This study uses qualitative method with two approaches. First, the researcher conducted an observation and in-depth interview to Strategi Bisnis Unit (SBU) assistant manager. The result of this study confirms that researcher get total of profit margin Rp. 85.414 in which there is administration cost Rp. 50.000, sales margin 2,5% Rp. 15.725, and installment margin 3,94% namely Rp. 24.783. Researcher get discount margin Rp. 5.094 that’s means net installment margin is Rp. 19.689. The determination of profit margin for murabahah financing has considered the terms of sharia laws by using consensus principle which is mentioned in Quran surah An Nisa verse 29. This verse explains that any transaction should not bother customers. With this basis, therefore, the practice of murabahah financing has been compatible with the regulations written on Standard Operating Procedure of the firm.

DETERMINAN RETURN SAHAM: JAKARTA ISLAMIC INDEX VS LQ 45

Dian Anggraini, Eka Ajeng, Pratomo, Ahmad Sidi

El Dinar Vol 6, No 2 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

The aims of this research are to know the influence of modal structure, systematical risk, and liquidity to the contribution return that is done by differentiating two indexes; Jakarta Islamic Index (JII) and Liquid 45 (LQ45). This research is a qualitative research which takes the samples in the companies that is listed in JII and LQ45 period 2014-2016. The total samples are 33 companies by using purposive sampling method. In doing the analysis, this research is using a doubled regression method and balance test by using SPSS 21 program. The result of this research shows that the variable of systematic risk of JII and LQ45 indexes have a significant influence to the contribution return. However, the variable of the financial capital and liquidity of JII and LQ45 indexes does not have a significant influence to the contribution return. In the result of balance test, there is a significant difference in the variable of modal structure in JII and LQ45. Here, the different result will show that there are no significant differences between the variables of systematical risk, liquidity, and contribution return in JII and LQ45.

UPAYA MEMPERTAHANKAN LOYALITAS NASABAH PRODUK DEPOSITO DI BANK MUAMALAT INDONESIA CABANG PANGKALPINANG

Alzikri, Bapaqih Alzikri

El Dinar Vol 6, No 2 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

The background of the selection of this theme is because of the data obtained from the Bank of Muamalat Indonesia, Pangkalpinang Branch on the collection of third party funds (DP3) for the performance of deposit products indicating an increase in funds collected which shows the increasing number of people who are interested in depositing funds through bank deposit products. muamalat, here the question arises in the minds of researchers how to maintain customer loyalty deposit products at the bank Muamalat Indonesia branch of Pangkalpinang. The results of the study through interviews with leaders, head funding, and marketing funding concluded that efforts to maintain customer loyalty for deposit products at Bank Muamalat Indonesia at Pangkalpinang Branch were to give special attention, provide the best service, create mutually beneficial relationships, carry out ongoing follow-up, offer attractive programs for maintain customer loyalty, and give appreciation to loyal customers. While the obstacles faced in the effort to maintain customer loyalty deposit products at the bank Muamalat pangkalpinang branch from the results of interviews with head funding and marketing funding of Muamalat Indonesia Bank, Pangkalpinang Branch are competition between banks, economic conditions, different levels of customer satisfaction, limitations funds for customer maintenance, distance between office and customer, sometimes the bank does not have an active customer telephone number, does not know the customers residence, and customer dishonesty.

Determinan Enterpreneurial Motivation Mahasiswa Perbankan Syariah

Siswanto, Siswanto Siswanto

El Dinar Vol 4, No 1 (2016): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar | Full PDF (1550.231 KB)

Abstract

This study was conducted to explore factors motivating students to be enterpreneur. Factor analysis approach used to attain the objective. The analysis used four stages. Namely; choose a variable, variable extraction, rotation and indentified variables. Total sample of the researsh were 100 respondents. The results showed some biographical characteristics which included characteristics based on age, gender, enterpreneurial intentions, type of business, opinions and backrounds. Based on the results, there were six important factors which motivated students to be enterpreneur, namely; need for achievement, locus of control, external environment, self efficacy, material encouragement and independence.

Analisis Penetapan Harga Jual Pembiayaan Murabahah pada Lembaga Keuangan Syariah Bank dan Non Bank

Sikrillah, Lailatul Sikrillah

El Dinar Vol 4, No 2 (2016): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar | Full PDF (2946.877 KB)

Abstract

This study aims to determine the selling price of murabaha financing application and calculation of profit margins on BRISyariah, BPRS Bumi Rinjani and UJKS El-Dinar. The research method used is a qualitative research method with a decriptive approach. Where data is the primary data obtained in the form of interviews with the parties concerned and secondary data in the form of data processing can be acconted for from a reliable source to conduct library research, interviews and internet. The result of this study found that setting the selling price on BRISyariah Murabahah Financing, BPRS Bumi Rinjani and UJKS El-Dinar that use the same basic price plus a profit margin. As for determining the profit margin that the bank sets its own and equally consider five factors determining the margin is the profit margin on everage Islamic Bank (Direct Competitor’s Market Rate/ DCMR), the interest rate the everage conventional banks (indirect Competitor’s Market Rate/ ICMR), the result of third-party funds (Competitive Expected Return for Investor/ ECRI), Overhead Cost, profit targets taking into account inflation and interest rate markets. In a benefit margin calculations using a flat (fixed).

Hubungan antara ketaatan beragama dengan kinerja bisnis pengusaha di banjarmasin

Sadikin, Abdurrahman Sadikin, Yusuf, Satira Yusuf

El Dinar Vol 4, No 2 (2016): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar | Full PDF (4910.871 KB)

Abstract

Arikurtto, Suharsimi (1998) Prosedurr Penelitian, Suatu Pendekatan Praktek. Cetakan Kedua. Rineka Cipta, ]akarta.Ajianuddin dalam makalahnya Pengembangan Usaha Kecil dan Menengah sebagai Salah Satu Upaya Pemulihan Perekonomian Indonesia.Hisrich, R.D. & Peters, N.P.,1998, Entrepreneurship, Fourth Ed., Irwin/McGraw- Hill. A Division of The McGraw-Hill Co,Missouri.Hisrich, Robert D., 199l. "Entrepreneurship/Intrapreneurship", in: Staw, Barry M.,Psychological Dimensions of Organizational Behavior, International Ed., Maxwell MacMillan.Jacobs, H., & Kruger, S., 2001, Establishing An Intrapreneurial Orientation As Strategy: A Framework For Implementation, ActaCommercil, 1:l-11.Perren, Lew, 2002, Comparing Entrepreneurship and Leadership: A Textual Analysis, Council for Excellence in Managernent and Leadership London.Riduwan, 2002, Skala Pengukuran Variabel-Variabel Penelitian, Alfabeta, Bandung.Radius Prawira dalam buku "Pengembangan dan Perlindungan Usaha Kecil" (1980;25) Riyanti, Benedicta Prihatin Dwi, 2003, Kewirausahaan dari  Sudut P andang Psikolagl, Grasindo, Iakarta.Zimrnerer, Thomas W. & Scarborough, Norman M.,1998, Pangantar Kewirausahaan dan Manajemen Bisnis Kecil, edisi Bahasa Indonesia, Prenhalindo, Jakarta.

PENGARUH PEMBIAYAAN MURABAHAH DAN MUSYARAKAH MELALUI KREDIT BERMASALAH TERHADAP LIKUIDITAS BANK UMUM SYARIAH

Laksmi Puteri, Sayyida Islamiya, Solekah, Nihayatu Aslamatis

El Dinar Vol 6, No 1 (2018): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar | Full PDF (632.655 KB)

Abstract

One of the causes of bankruptcy is not due to losess incurred but due to the inability to maintain cashflow availability. This study aims to determine the direct relationship of murabahah and musyarakah financing to Islamic bank liquidity through the NPF ratio. This study is descriptive quantitative study using path analysis and purposive sampling to determine the sample. The results of this study indicate that murabahah financing has no effect on NPF but effect the liquidity of Islamic bank. On the contrary, for musyarakah financing affecting NPF but not for liquidity of Islamic bank. It can be implied that due to differences in risk coverage of the two contract (murabahah financing dan musyarakah financing) where murabahah financing the level of risk that may arise will be more borne by the recipient of  the financing. This contrasts with the musyarakah financing agreement where the risk Non performing loan  can be minimized by sharing the risk in musyarakah financing.However, its relationship with bank liquidity, in fact murabahah financing provides a large contribution considering that islamic bank get certainty about the profit ratio of this financing agreement. As for musyarakah financing, Islamic bank liquidity actually decreases due to uncertainty in the profit sharing ratio it receives. From the result of the intervening test, NPF proxied by the ratio of NPF of Islamic banks did not mediate murabahah financing and musyarakah financing to Islamic bank liquidity.

Pengaruh Diversitas Dewan dan kinerja keuangan terhadap voluntary corporate disclosure

Aisyah, Esy Nur

El Dinar Vol 4, No 1 (2016): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Original Source | Check in Google Scholar |

Abstract

More disclosure can reduce agency costs incurred by the company. The more management (agent) reveal information about the company can reduce the conflict to shareholders (principal). Therfore, a voluntary disclosure more to minimize the occurence of  information asymmetry. The more management companies disclose information about the incentives obtained become more, because basically shareholders (principal) would be willing to pay the cost of monitoring surveillance to prevent the hazard of the agent.The aim of this study is to analyze and discribe how diversity influences gender and educational background of the board as well as the financial performance of the corporate voluntary disclosure. Definition councils in this study combines the board of commissioners and board of directors, because indonesia is adopting a two-tier system. The companies sampled is a company registered in the Indonesia Stock Exchange (IDX).Adjusted R-squere value (0.55) shows that voluntary corporate disclosure nearly 55% depending on the independent variable is gender diversity of the board, board diversity educational backgrounds, profitability, size, liquidity and liverage of the company. Significance test showed that gender diversity and leverage are important determinants of corporate voluntary disclosure in Indonesia. On the other hand, the research also found that the variable gender diversity, provitability, size and liquidity is not strong explanatory variables to determine the extent of voluntary disclosure of company in Indonesia.