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All Journal el-Jizya: Jurnal Ekonomi Islam JURISDICTIE Jurnal Hukum dan Syariah Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Ijtima'iyya: Journal of Muslim Society Research Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan JURISMA: Jurnal Riset Bisnis & Manajemen JIKA: Jurnal Ilmu Keuangan dan Perbankan Aktiva : Jurnal Akuntansi dan Investasi Transekonomika : Akuntansi, Bisnis dan Keuangan Al-Muamalat : Jurnal Ekonomi Syariah Jurnal Akuntansi dan Audit Syariah (JAAIS) Indonesian Journal of Research and Educational Review (IJRER) Journal of Innovation in Management, Accounting and Business AHKAM : Jurnal Hukum Islam dan Humaniora HIKMATUNA: Journal for Integrative Islamic Studies Hikmatuna Neraca Manajemen, Akuntansi, dan Ekonomi Zona Law And Public Administration Indonesia Indonesian Journal of Interdisciplinary Islamic Studies (IJIIS) Madania: Jurnal Kajian Keislaman
Prasetyo, Yoyok
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Religion Arts Humanities Chemistry Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Physics Social Sciences Other

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Comparison of Risks, Returns and Performance Measurements of Sharia and Non-Sharia Mutual Funds in Indonesia Prasetyo, Yoyok; Athoillah, Mohamad Anton; Yusup, Deni Kamaludin
Ijtim?'iyya: Journal of Muslim Society Research Vol 4 No 2 (2019)
Publisher : Postgraduate Program, State Institute on Islamic Studies Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (634.33 KB) | DOI: 10.24090/ijtimaiyya.v4i2.3072

Abstract

Investment is a sacrifice to postpone current consumption by allocating a number of assets that are expected to earn benefits in the future. Islamic Sharia does not forbid Muslims to do it, even there is an indication that it is recommended. The main motivation is to be able to pay more alms in the future. One of investment instruments in Indonesia is Mutual Funds. Indonesia's predominantly Muslim population is one of the triggers for the development of sharia-based mutual funds. However, its development has not been as big as the existing potential market. One of the reasons is there is still a view in the community that sharia-based instruments provide lower returns than non-sharia. This study compares the risks and returns of mutual funds, between sharia and non-sharia based. Sampling of both used purposive sampling, where there were 6 sharia mutual funds and 8 non-sharia mutual funds. The study was conducted in 5 years. The results of the study were: (1) There was no significant difference between the risks of both; (2) There was no significant difference between the returns of both; (3) The performance of non-sharia mutual funds was more dominating than sharia mutual funds.
Perbandingan Risiko Dan Return Investasi Pada Indeks Lq 45 Dengan Indeks Jakarta Islamic Index (JII) Prasetyo, Yoyok
El-Jizya : Jurnal Ekonomi Islam Vol 6 No 2 (2018)
Publisher : Fakultas Ekonomi dan Bisnis Islam (FEBI), Institut Agama Islam Negeri (IAIN) Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24090/ej.v6i2.2043

Abstract

This study compares the risks and returns between the two indices in the Indonesian Stock Exchange (IDX), namely the LQ 45 Index and the Jakarta Islamic Index (JII). This research period, starting from January 2008 to December 2017. Based on the normality test, the results obtained that the risk data of the LQ 45 Index are normally distributed while the JII Index risk data is not normally distributed. So that a different test used non-parametric statistics, namely the Mann Whitney test. In this study, the results obtained that there is no significant difference in the risk of the LQ 45 index with the JII index. Whereas based on the normality test for LQ 45 Index return data and JII Index return obtained both data are normally distributed and homogeneous. So that the parametric statistics were used by the T test. And the results obtained that the LQ 45 index return also had no significant difference with the JII index. This is due to almost the same constituents / members of these two indices, or the occurrence of a strong slice between the two. Finally, it can be concluded that the risks and returns between the LQ 45 Index and the JII Index have no significant differences.
COMPARATIVE STUDY ON THE REGULATION OF SHARIA FINANCIAL TECHNOLOGY IN INDONESIA AND MALAYSIA Susilawati, Cucu; Sulaiman, Ahmad Azam; Abduh, Muhamad; Prasetyo, Yoyok; Athoillah, Mohamad Anton
Jurisdictie: Jurnal Hukum dan Syariah Vol 12, No 1 (2021): Jurisdictie
Publisher : Fakultas Syariah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/j.v12i1.12213

Abstract

Financial technology is a part of digital ecosystem which development is rapid and massive, so does the sharia fintech. However, conventional and sharia fintech are two different systems and should have each regulation. The problem is if sharia fintech regulations in Indonesia is appropriate. Then what about Malaysia which are considered successful in developing the sharia fintech. This study compares sharia fintech regulations in Indonesia and Malaysia. The aim is to find out the readiness of Indonesia and Malaysia in supporting the sharia fintech trend realized in the regulations. This is a qualitative research using books and academic articles as an addition to the literature and regulations as the analytical method. The results indicate that Indonesia and Malaysia try to accommodate sharia fintech regulations. Indonesia still uses The Financial Services Authority Regulation (POJK) and Bank Indonesia regulations, both of which do not meet the sharia principles. Meanwhile, Malaysia uses the 2013 Islamic Financial Services Act (IFSA), a law to regulate sharia compliance of the Islamic financial services sector, including the Sharia Fintech. In addition, Malaysia also has a Sharia Advisory Council as a supervisor for the Islamic financial services implementations. Malaysia’s and Indonesia’s regulations have yet answered the sharia fintech developments. Financial technology merupakan bagian dari ekosistem digital yang perkembangannya sangat pesat dan masif, tak terkecuali fintech syariah. Namun, fintech konvensional dan syariah adalah dua sistem yang berbeda dan seharusnya memiliki peraturan yang berbeda pula. Permasalahannya apakah regulasi fintech syariah di Indonesia sudah tepat apa belum, lalu bagaimana dengan regulasi di Malaysia yang dianggap berhasil mengembangkan fintech syariah. Tujuannya adalah untuk mengetahui sejauhmana kesiapan Indonesia dan Malaysia dalam mendukung trend fintech syariah dalam regulasi. Penelitian kualitatif ini menggunakan buku dan artikel akademis sebagai tambahan literatur dan peraturan sebagai metode analisis. Hasil penelitian menunjukkan bahwa Indonesia dan Malaysia sama-sama berusaha mengakomodasi regulasi. Indonesia masih menggunakan Peraturan Otoritas Jasa Keuangan dan Peraturan Bank Indonesia, dan belum memenuhi prinsip syariah. Malaysia menggunakan Islamic Financial Services Act (IFSA) 2013, sebuah Undang-Undang yang mengatur kepatuhan syariah dari sektor jasa keuangan Islam. Malaysia juga memiliki Dewan Pertimbangan Syariah sebagai pengawas pelaksanaan jasa keuangan Islam. Regulasi yang dimiliki oleh Malaysia dan Indonesia belum menjawab perkembangan fintech syariah.
Pengaruh Solvabilitas, Likuiditas, dan Profitabilitas terhadap Nilai Perusahaan Prasetyo, Yoyok; Ernawati, Nani; Hakim, Ahmad M Ryad S; Sugianto, Deris
Jurnal Akuntansi dan Audit Syariah (JAAiS) Vol 2 No 2 (2021): December 2021
Publisher : Jurusan Akuntansi Syariah Fakultas Ekonomi dan Bisnis Islam IAIN Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (335.943 KB) | DOI: 10.28918/jaais.v2i2.4838

Abstract

Corporate Value Is the investor's perception of the level of success of the company which is reflected in the stock price. The higher the value of the company, the greater the prosperity received by shareholders. This study aims to determine the effect of Solvency, Liquidity and Profitability on the Company Value of the property and real estate sector listed on the Indonesia Stock Exchange in the 2015-2019 Period. The population in this study are property and real estate sector companies listed on the Indonesia Stock Exchange in the 2015-2019 period, amounting to 75 companies. Based on the sampling technique with purposive sampling obtained a sample of 16 companies. Data collection techniques use the documentation of financial statements published on the official website of the Indonesia Stock Exchange, www.idx.co.id. The analysis technique used is panel regression. The results of this study indicate that: (1) Solvency is not impacted on firm value, with a significance value of 0,1008>0.05 (2) Liquidity is not impacted on Firm Value, with a significance of 0,5810>0.05 (3) Profitability is not impacted on Firm Value, with significance of 0,3354>0.05 (4) Solvency, Liquidity, and Profitability affect the Value of the Company with a probability of 0,000 with an R2 of 85,90%.
Face-To-Face Learning Methods Are Limited in Overcoming Students' Learning Difficulties During The Pandemic Covid-19 Prasetyo, Yoyok; Irvan Sir; Atmam Amir
ETDC: Indonesian Journal of Research and Educational Review Vol. 1 No. 3 (2022): June
Publisher : Education and Talent Development Center Indonesia (ETDC Indonesia)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51574/ijrer.v1i3.293

Abstract

In Indonesia, the impact of the pandemic was quite severe. This is evidenced by the high mortality rate. To reduce its spread, the minister of education and the government imposed an online learning system which was found to be less effective at elementary school levels, especially in physical education and health lessons, which required a lot of physical activity. Various obstacles that occurred in the learning model in the network resulted in educators preferring the limited face-to-face learning model as a means of delivering material to students. Despite the great risk, it turns out that this limited face-to-face learning model is more effectively used than other learning models. To reduce risk, health protocols must be carried out before starting learning. The results of this limited face-to-face learning show an increase in students' understanding of the material at MI Maarif NU Kebalandono. As a suggestion, a professional teacher must also be able to adapt and adjust to the learning they will do in class under any conditions so that the competencies expected in the curriculum can be conveyed properly to students.
PENGARUH PROFITABILITAS TERHADAP NILAI EMITEN SYARIAH DI INDONESIA Prasetyo, Yoyok; Lestari, Rini; Rahayu, Yulianita; Nurlela, Yuli
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol 11 No 2: Juni 2022
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v11i2.5897

Abstract

The main task of the management of a public company is to prosper the shareholders. This is reflected in the increase in the value of the company.This study was conducted to determine the effect of profitability, especially Return on Assets (ROA) and Return on Equity (ROE) on firm value. The method used in this research is a quantitative approach. Obtained a sample of 15 Islamic companies listed on the Indonesia Stock Exchange (IDX). The results showed that the independent variable Return on Assets (ROA) did not have a partial effect on the dependent variable of Islamic firm value, both Price to Book Value (PBV) and Tobin's Q. While the independent variable Return on Equity (ROE) had a partial effect. on the dependent variable of Islamic firm value, both Price to Book Value (PBV) and Tobin's Q. So that in order to prosper the shareholders, the management of public companies must try to increase the Return on Equity (ROE).
Penerapan Hybrid Contract sebagai Inovasi pada Produk Pembiayaan Multijasa di Lembaga Keuangan Syariah Hardiati, Neni; Prasetyo, Yoyok; Herdiana Abdurrahman, Nana
TRANSEKONOMIKA: AKUNTANSI, BISNIS DAN KEUANGAN Vol. 1 No. 6 (2021): November 2021
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (481.119 KB) | DOI: 10.55047/transekonomika.v1i6.96

Abstract

Rapid product development is carried out by Islamic Financial Institutions (LKS) in providing alternative services to the needs of the community which are carried out based on sharia principles. The development of these services is provided both in the form of banks and non-banks as well as in the form of storage or other types of services as well as in the form of financing. However, due to more complex customer needs, LKS requires innovation in order to get convenience in its operational activities. So, in innovating with hybrid contracts, it becomes an important thing. This research uses a literature study with a normative juridical approach, which is carried out by collecting, studying and reviewing books, scientific magazines and documents related to this research such as theses and scientific articles. The results of the study state that in the application of hybrid contracts in multi-service financing products at Islamic Financial Institutions (LKS) generally use ijarah contracts according to the DSN-MUI fatwa. In this case, if the LKS uses the ijarah contract, it must comply with the provisions of the fatwa as the service provider or the benefits obtained from the LKS. Meanwhile, if in a hybrid contract one or more contracts are added, in this case it is added with a wakalah contract, then the customer has the power to carry out his own costs. However, if there are customers who still have to pay ujrah for the ijarah contract, it is called usury. Because this is not justified in sharia principles and is not in accordance with the ijarah fatwa concerning the multiservice, the bank does not fulfill its service obligations as the fatwa regarding multiservice as well as the kafalah contract. Thus, there is an alternative in this multi-service financing, namely by using hawalah bil ujrah and wakalah contracts which are more flexible and their implementation as an innovation, namely combining these contracts with the aim of making banking operations easier, reaching wider and able to meet the needs of more customers.
Analysis on Risk, Real Returns, and Performance Measurement of Sharia Stocks and Non-sharia Stocks Prasetyo, Yoyok; Ahmad Azam Sulaiman
Hikmatuna : Journal for Integrative Islamic Studies Vol 7 No 1 (2021): Hikmatuna: Journal for Integrative Islamic Studies, June 2021
Publisher : UIN K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/hikmatuna.v7i1.3649

Abstract

Indonesia is predominantly Muslim, however, this does not necessarily mean that the number of sharia stock investors in Indonesia is also large. Referring to SOTS data’s, the number of sharia stocks investors is still very small compared to the number of stock investors as a whole. Therefore, research is needed to understand the comparison of risks, returns, and performance measurement of sharia and non-sharia stocks. Using purposive sampling, a sample of 19 stocks were obtained consisting of 14 sharia stocks and 5 non-sharia stocks from 2014 to 2018. This research is an explanatory comparative method and is a quantitative type using a different test. The results show that there is a difference in risk between sharia and non-sharia stocks. However, there is no difference in yields between Sharia and non-Sharia stocks. Performance measurement based on Risk-Adjusted Performance using the Sharpe ratio show that non-Sharia stocks are more dominant in performance than Sharia stocks. Total risk (SD) of sharia stocks (7.945062) is higher and is somewhat bigger than the average non-sharia stock risk (6,186363) and the real returns between sharia and non-sharia stocks, although descriptively statistical the real returns of sharia stocks (0.066179%) is lower than the non-sharia stocks (1.175495%).
Application of Hybrid Contract Concept in Giro Product Septiana Putri, Cindy; Herdiana Abdurrahman, Nana; Prasetyo, Yoyok
Zona Law And Public Administration Indonesia Vol. 2 No. 1 (2024): JANUARY 2024
Publisher : Yayasan Mentari Madani

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

Abstract

An agreement is a form of agreement between parties to do something. An agreement always gives birth to an agreement, where the agreement is a concrete form and the agreement is an abstract and binding form. The concept of contract product innovation has emerged by combining several existing contracts and is called a hybrid contract. A hybrid contract is a combination of two or more contracts into one contract for a specific purpose. This research was conducted to determine the application of hybrid contracts in sharia financial institution products, especially Giro. This research also analyzes whether the application of Giro products in sharia banking is in accordance with Islamic law. The type of research used is library research by describing qualitative data obtained from research documents. This research uses qualitative methods combined with analytical methods. The research results show that the implementation of hybrid contracts in Giro products in sharia banking is in accordance with the provisions of Islamic law. Combination contract products are permitted in accordance with religious texts so that Giro products can be claimed to be included in the contract category which applies to several contracts, especially wadiah and mudharabah contracts. In the Sharia Bank Giro product, there is a basic contract, namely a deposit and includes additional fees. contracts, especially benefits. From this agreement there will be an agreement to determine profits with the mudharabah giro.
Product Innovation Of Islamic Financial Institutions In The Perspective Of Sharia Economic Law Taupik, Opik; Herdiana, Nana; Prasetyo, Yoyok
Zona Law And Public Administration Indonesia Vol. 2 No. 1 (2024): JANUARY 2024
Publisher : Yayasan Mentari Madani

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

Abstract

Product innovation in Islamic financial institutions has become a necessity in facing the ever-growing global market dynamics. This article explores the views of sharia economic law on product innovation with the aim of revealing the key role of sharia economic law in designing, implementing and regulating innovative sharia financial products. The basic concepts of sharia economic law, such as the prohibition of usury, the prohibition of maysir and gharar, as well as the principle of zakat, play a central role in forming the framework for sharia product innovation. However, Islamic financial institution product innovation is also faced with a number of challenges and controversies, such as legal considerations, supervision and ethical issues. This article considers these challenges and proposes possible solutions to overcome them. By combining a sharia economic law perspective with sharia financial product innovation, this article provides in-depth insight into how these products can develop in accordance with sharia principles, as well as their impact on sharia economic development more broadly.
Co-Authors Abduloh, Ade Abdurraafi, Muhammad Aen, Nurol Agus Riyanto Ahmad Azam Sulaiman Ahmad Azam Sulaiman, Ahmad Azam Aminullah, Ali Aprilia, Risa Tri Arifin, Desi Siti Habibah Athoillah, Mohamad Anton Atmam Amir Baihaqqy, Mochammad Rizaldy Insan Fatimah, Neneng Fauzan, Ihsan Hakim, Ahmad M Ryad S Hardiati, Neni Herdiana, Nana Hidayat, Udin Irvan Sir Kamaludin Yusup, Deni Mega Silvia Muhamad Abduh Muhammad Dzaki Naufal, Muhammad Dzaki Muqsith, Muhammad Nana Herdiana Abdurrahman, Nana Herdiana Nani Ernawati Nurlela, Yuli Perwira, Mohammad Bagus Teguh Purnama, Satria Rahmat Mulyadin, Hari Rini Lestari Rizaldy Insan Baihaqqy, Mochammad Septiana Putri, Cindy Sofyan Al-Hakim Sri Suharti Sugianto, Deris Sukmarini, Dien Susilawati, Cucu Taupik, Opik Wulandari, Rika Awalia Yulianita Rahayu, Yulianita Yustika Pratiwi, Hamlatussa’adah