Fund Management Research Articles

Keterkaitan antara Akuntansi Syariah dan Zakat dalam Manajemen Keuangan

The main objective of this research is to analyse the extent of the application of sharia accounting in the management of zakat in zakat institutions. This research uses a qualitative approach with literature study as the main method. The qualitative approach was chosen because it allows to deeply explore abstract concepts such as Islamic accounting, zakat, and financial management, as well as their interconnections. Based on the findings of this study, it can be concluded that Islamic accounting has a crucial relationship and role in the management of zakat. The application of sharia principles such as al-amana, al-adl, and al-khas in zakat accounting not only ensures transparent and accountable fund management, but also increases public trust in zakat institutions. Good accounting practices such as segregation of funds, preparation of transparent financial statements, and independent audits are key in realising effective and efficient zakat management.

Forecasting Life Insurance Loss Reserves Using Time Series Analysis.

Purpose: To determine an accurate predictive model that captures trends and seasonality in life insurance claims. Methodology: Time Series Analysis is used to forecast Secondary data on life insurance claims. The researcher aims at using a non-actuarial and accurate predictive model that captures trends and seasonality in life insurance claims over time. The dataset, comprising monthly claim amounts from May 2018 to March 2024 obtained from an insurance company. Findings: Life insurance claims increases with time hence the insurance companies are to set up an appropriate reserve to cater for future occurrence. It is realized that ARIMA (2,1,1) is appropriate for modelling the life insurance claim amounts with a least Log Likelihood value of -766.99, AIC value of 1521.97, AICc value of 1522.6, and BIC value of 1530.91. An ACF plot and Ljung Box test on the residuals shows the residuals are free from autocorrelation and free from heteroscedasticity respectively and hence the model is a white noise and adequate for further analysis. The result of the twelve months forecast indicates an increase in the life insurance claims. Unique contribution to theory, practice and policy: Managers in the insurance companies should focus on risk management and reserve allocation of fund in order to meet short term and long term claims settlement.

ADVOCACY STRATEGY IN OPTIMIZING THE USE OF VILLAGE FUNDS FOR THE STUNTING PREVENTION PROGRAM IN EAST SUMALATA DISTRICT

Stunting is a critical public health issue in North Gorontalo Regency, and efforts to prevent it during the First 1000 Days of Life face significant challenges, particularly due to insufficient allocation of village funds for stunting prevention initiatives. This research aims to explore effective communication and advocacy strategies for securing village fund support for the stunting prevention program focused on the First 1000 Days of Life at the village level in East Sumalata District, North Gorontalo Regency. The study employs a descriptive qualitative approach, utilizing document analysis, observations, interviews, and focus group discussions to examine village fund management and assess the effectiveness of advocacy strategies. The findings indicate that an effective advocacy strategy for securing village fund allocations for the stunting prevention program involves informal communication with a persuasive approach directed at regional leaders. Key elements include presenting accurate target data, referencing relevant regulations, submitting well-prepared activity proposals, and obtaining recommendation letters from local authorities such as the Head of the Office or the Subdistrict Head. Given the sensitivity and limitations of village budget discussions, consistent monitoring of advocacy proposals is essential to ensure program implementation. Support from regional leaders and partner organizations is crucial for successful advocacy efforts.

A Parallel Monte Carlo Algorithm for the Life Cycle Asset Allocation Problem

Life cycle asset allocation is a crucial aspect of financial planning, especially for pension funds. Traditional methods often face challenges in computational efficiency and applicability to different market conditions. This study aimed to innovatively transplant an algorithm from reinforcement learning that enhances the efficiency and accuracy of life cycle asset allocation. We synergized tabular methods with Monte Carlo simulations to solve the pension problem. This algorithm was designed to correspond states in reinforcement learning to key variables in the pension model: wealth, labor income, consumption level, and proportion of risky assets. Additionally, we used cleaned and modeled survey data from Chinese consumers to validate the model’s optimal decision-making in the Chinese market. Furthermore, we optimized the algorithm using parallel computing to significantly reduce computation time. The proposed algorithm demonstrated superior efficiency compared to the traditional value iteration method. Serial execution of our algorithm took 29.88 min, while parallel execution reduced this to 1.42 min, compared to the 41.15 min required by the value iteration method. These innovations suggest significant potential for improving pension fund management strategies, particularly in the context of the Chinese market.

KATALISASI INFORMASI PUBLIK TERHADAP PENGGUNAAN DANA DESA SEBAGAI BENTUK AKUNTABILITAS KEUANGAN DI DESA BUHU JAYA

Publication efforts are possible using information systems, especially those that are digital-based. The existence of a new model in the realm of village fund management publications will realize accountable and transparent village fund management. Therefore, this service is carried out in the form of counseling on planning and using village funds based on accountability values, Microsoft-based village financial management training and the formation of village information media. The final result of the implementation of the service which forms a digital-based village information social media is one form of realizing transparency and accountability in the use of village funds. The existence of this series of activities is a step in realizing accountable and transparent management of village funds so that it will avoid misuse of village funds as well as provide space for community participation in supervising the management of village funds. In addition, this media will provide space for community participation in monitoring the use of village funds carried out in various forms of programs and activities.

Pengaruh Pengelolaan Dana Desa Terhadap Kesejahteraan Masyarakat Desa Tamboo Kecamatan Tilongkabila Kabupaten Bone Bolango

This research employed a quantitative approach. The data were collected through observation, questionnaires, and documentation. The populations in this research were all Community welfare of Tamboo Village, Tilongkabila Subdistrict, Bone Bolango Regency, while the samples were 40 Community. The anaysis method employed Simple Linear Regression. The results indicated that the assignment method village fund management positive influence on the Community welfare of Tamboo Village, Tilongkabila Subdistrict, Bone Bolango Regency. From the calculation of the coefficient of determination, it indicated an R-square of 0,413, which meant that 41,3% of the variabiliti of community Welfare in Tamboo Village, Tilongkabila Subdistrict, Bone Bolango Regency is addressed by Village Fund Management Of the other hand, the remaining 58,7% is influenced by other variables not examined in the research.

ANALISIS PENERAPAN AKAD MUDHARABAH DAN WADI’AH PRODUK HAJJ BUSINESS DI CIMB NIAGA SYARIAH SURABAYA

Purpose– Sales Representatives play a vital role in the sales of Hajj Business products at CIMB Niaga Syariah. Their duties include promoting the products, explaining them to potential customers, and ensuring compliance with mudharabah and wadiah contracts throughout the sales process. Understanding how well Sales Representatives comprehend and apply these contracts in their sales practices is crucial for maintaining the integrity and success of Hajj Business products. Design/methodology– This study employs a qualitative approach using a case study method. Primary data was obtained through direct observation and documentation of the sales process conducted by the sales team. Three data collection techniques were used: observation, case studies, and documentation, to gain a comprehensive and in-depth understanding of the Hajj package sales process. Findings - The findings indicate that one key factor contributing to the stability of Hajj investments is the well-planned and meticulous management of funds. this study emphasizes the significant role of Sales Representatives in promoting and selling Hajj Business products and ensuring adherence to mudharabah and wadiah contracts at every stage of the sales process.

Firm-Level ESG Information and Active Fund Management*

Firm-Level ESG Information and Active Fund Management*

Impact of School-Based Feeding Program on Pupils Reading Performance in San Gabriel Elementary School

This study examines the impact of a school feeding program on the reading skills of Grade IV pupils. The research hypothesizes that a well-structured and effectively implemented feeding program can enhance pupils' reading performance. Specifically, the study aims to determine how the school feeding program influences the reading performance of Grade IV pupils at San Gabriel Elementary School during the 2022-2023 school year. The study sougth to address several key questions: What is the socio-demographic profile of the pupils (age, sex, parents’ education, family income, and BMI)? What is the impact level of the school feeding program in terms of physical facilities, fund management, paraphernalia, and food preparation? What is the reading performance of the pupils? Is there a significant relationship between the pupils’ socio-demographic profile and the effectiveness of the school feeding program? Lastly, is there a significant relationship between the feeding program’s impact and reading performance? The research employs a descriptive-correlational design and involves 32 Grade IV pupils from San Gabriel Elementary School, selected through purposive sampling. Data collection instruments included a modified pupil profile survey and a school feeding program assessment, with responses measured using a 5-point Likert scale. The data were analyzed using frequency, percentage, mean, standard deviation, Biserial Correlation, and Pearson r. Findings reveal that the pupils, all aged 9, consist of an equal number of boys and girls. Most parents had completed high school, and family incomes were typically below 9,000 pesos. Pupils generally had a normal BMI. The school feeding program was found to have an outstanding impact on both nutritional support and reading performance, with a significant correlation between program management and pupils' reading improvement. A significant relationship was also found between the socio-demographic profile and program effectiveness.

VILLAGE FUND MANAGEMENT TOWARDS VILLAGE INDEPENDENCE, THROUGH THE EMPOWERMENT OF BUMDes IN SIMEULEU REGENCY

This study aims to examine the effect of village fund management on village independence, through BUMDes empowerment in Simeuleu Regency. The study was conducted on 171 samples with the chairman, secretary and treasurer of the village as respondents from 138 villages in simeuleu Regency. Data was collected through questionnaires and analyzed using the analysis of the Statistical Package for the Social Science (SPSS) 23. The results showed that the partial and simultaneous management of village funds had a significant effect on village independence. Meanwhile, the partial and simultaneous BUMDes empowerment test strengthens the influence of village fund management on village independence in Simeuleu Regency. So the partial statistical test carried out in this study can be concluded that Ha1, Ha2, Ha3 and Ha4 are accepted.

Analisis Sistem dan Kebijakan Pendidikan Islam tentang Penggunaan Dana Bantuan Operasional Sekolah (BOS)

This article aims to analyze the Islamic education system and policy on the use of BOS funds. This study uses a literature study method with a systematic approach to identify and analyze relevant sources related to the research focus. The data source is taken from scientific journals, books, and academic publications published in the last 10 years, using an online database, namely Google Scholar. The collected data is analyzed qualitatively to identify the main themes and trends in related research. The results of the analysis show that the use of BOS funds is intended for all routine school operating costs, while construction costs do not come from BOS. Abuse in the management of BOS funds is found in several regions, the most frequent cases are the inflating of the number of students, misuse of funds, and even falsification of data and news which often include newspapers about the misappropriation of BOS funds. This can also be triggered by the current system, weak supervision and lack of community participation, thus causing the purpose of the BOS subsidy itself to be less and tend to reduce its usefulness. For this reason, preventive actions are needed from every institution and element of this nation for the progress and effective management of BOS funds

PELATIHAN AKUNTANSI PERANGKAT DESA GUNA PENINGKATAN KETERAMPILAN PENGELOLAAN KEUANGAN DI DESA KADUAGUNG BARAT, BANTEN

Village funds are a form of government attention in providing opportunities to villages as an effort to maintain their potential. The use of village funds is directed at financing development and community empowerment with the aim of improving the welfare of village communities, the quality of human life and overcoming poverty. However, the amount of village funds needs to be balanced with increasing the capacity of Human Resources, namely village officials as managers of village funds. The low quality of Human Resources will ultimately give rise to community concerns regarding the management of village funds whose placement is used for other things that are not in accordance with the initial objectives. The aim of this Community Service activity is to provide training to partners, in this case Kaduanggung village officials, Banten, especially regarding: (1) Understanding accounting concepts, especially regarding village funds, and (2) Understanding the importance of transparency in financial management . This service activity is planned as an ongoing program, so that at the end of the assistance it is hoped that village officials will have full awareness regarding accounting records in managing village funds, and have records that are in accordance with accounting principles. Apart from that, to realize healthy village fund governance, active community participation is needed in carrying out supervision. The implementation of this service consists of several stages of activities, namely socialization, consultation and mentoring, formation of a village finance team, to ongoing evaluation and monitoring. The feedback and evaluation carried out is in the form of ongoing monitoring related to the recording carried out in the use of village funds.

Power Equalizing Model for Financial Equity in Education Based on Islamic Values

This research explores how the power-equalizing model in educational financial management can increase fund allocation efficiency and transparency by integrating key elements, including stakeholder participation, the use of technology, and innovative economic management strategies. The research method involved interviews with participants, educators, educational managers, and technology developers to identify best practices and challenges faced in implementing this model. The findings show that the power equalizing model in financial management can improve transparency and accountability in fund management. Still, stakeholder coordination and technology adaptation challenges need to be addressed further. The conclusions of this research emphasize the importance of integrating innovative elements in educational and financial management to achieve better efficiency and fair allocation of funds.

Opportunities and challenges in the implementation of the Community Environment Conservation Fund: Implications for conservation of endangered tree species

AbstractThe shea tree (Vitellaria paradoxa), one of the indigenous tree species in sub‐Saharan Africa, is facing extinction because of its hardwood, which provides the best fuel wood, and its charcoal is the best amongst all tree species in Uganda. To conserve these trees in Northern Uganda, the Community Environment Conservation Fund was implemented to help communities harness its benefits, such as carbon sequestration, microenvironment regulation and income generation through the sale of shea nuts and shea butter. As a result, there was a need to understand the opportunities and challenges in the implementation of the Community Environment Conservation Fund. Qualitative methods like the key informant interviews and focus group discussions were used and a participatory process mapping tool called the Process Net‐Map was applied to identify the actors involved and assess their level of influence in the implementation process, eliciting the opportunities and challenges faced. The research findings showed multiple opportunities in the conservation efforts, including enhanced adoption of community‐conservation by‐laws, positive mindset change towards shea tree and environmental conservation, improved credit access, diversification of income‐generating alternatives and asset creation. However, some challenges existed during the implementation phase, including moral hazard, strategic defaulting, free riding and limited financial resources. Each of these challenges significantly impacted the effectiveness and sustainability of the fund, enlightening the need for adaptive strategies. Some strategies identified were enhancing training, especially regarding fund management and enterprise selection; increasing the startup funds to at least UGX 3,000,000 ($790) per group; incorporating the declining balance approach; and lengthening the gestation period to at least 6 months. By addressing these challenges, more resilient and sustainable conservation efforts can be made, safeguarding the invaluable shea trees for future generations.

The Impact of Financial Innovation on Environmental Protection:Literature Review and Case Study

This study explores the relationship between financial innovation and environmental protection, focusing on how financial innovation can contribute to sustainable development and ecological conservation. Through a comprehensive literature review, this paper identifies various forms of financial innovation, including green finance, socially responsible investing, and impact investing. These have emerged as significant tools in promoting environmental sustainability. The literature suggests that financial innovation plays a crucial role in directing capital towards environmentally friendly projects and companies, thereby reducing the funding of polluting industries. The implementation of green bonds, green banks, and other financial instruments has been instrumental in channeling investments towards renewable energy, clean technology, and other eco-friendly initiatives. These financial mechanisms not only encourage corporate responsibility but also stimulate innovation in clean technologies by providing necessary funding and risk management solutions.The Case study is presented to exemplify the practical application of financial innovation in environmental protection. The case focuses on the development and impact of a green bond issuance by a major financial institution, highlighting the positive environmental outcomes achieved through the financing of specific sustainable projects. The analysis reveals that such financial products have led to measurable reductions in greenhouse gas emissions and improvements in resource efficiency. By synthesizing theoretical insights and empirical evidence, this research contributes to a deeper understanding of the nuanced interplay between finance and environmental preservation, suggesting that financial innovation can be a powerful ally in the global effort toward ecological conservation and sustainable development.

Accountability of Village Fund Management in the Perspective of Agency Theory

This study aims to determine how the role and understanding of village officials influence the accountability of village fund management. This study also wants to see agency problems in the accountability of village fund management. The results of this study are the role of village officials has a variable significance level of 0.03 0.05, which means that the role of village officials has a positive and significant effect on the accountability of village fund management. Furthermore, the understanding of village officials has a variable significance level of 0.02 0.05, which means that the understanding of village officials has a positive and significant effect on the accountability of village fund management. Based on the results of interviews with village officials, agency theory in village fund management is very important to ensure accountability and transparency or openness. The community as a principal must obtain clear information and have a role in supervision, while the village government as an agent is required to carry out its duties transparently and responsibly. With both formal and informal monitoring mechanisms in place, potential conflicts of interest and moral hazard issues can be minimised.

Optimization of Village Financial Management Strategy to Improve the Effectiveness of Village Development Programs (Case Study of Batu Putih Village, Tellu Limpoe District, Bone Regency)

This research aims to determine the effect of village fund management strategies to increase the effectiveness of the village development program in Batu Putih, Tellu Limpoe District, Bone Regency. The population in this research is the village community involved in the Batu Putih village development programs, totaling 60 people. The type of research used is descriptive quantitative, the data sources used are primary and secondary data where the primary data comes from observations and questionnaires. The data analysis technique used is simple regression analysis using the Statistical Package for the Social Science (SPSS) version 20 application. The result of the research shows that village fund management (X) has a positive and significant influence on the effectiveness of village development programs (Y) seen from the result of the t count > t tabel (3,472 > 1,672) and the significant value = 0,00 < 0,05.

Navigating vaccine procurement and financing challenges in Cameroon: Insights and recommendations from a mixed-methods study (2015–2020)

ObjectivesVaccine stockouts at the national level has been recognized as a critical challenge in ensuring sustained and equitable immunization coverage. These stockouts often arise from inherent issues within countries, including delays in government funding, suboptimal forecasting and stock management practices, and inefficiencies in the procurement process amongst others. Understanding the complexities and barriers within vaccine procurement and financing systems is crucial for developing effective strategies to enhance vaccine availability and strengthen immunization programs. This is particularly relevant in the context of reaching zero dose children and transitioning from Gavi. This study aimed to comprehensively assess the vaccine procurement and financing landscape in Cameroon from 2015 to 2020. Study designThis was a descriptive cross-sectional study. MethodsEmploying a mixed-methods approach, we conducted a desk review of pertinent documents and engaged in in-depth interviews with key stakeholders involved in the procurement and funding mobilization processes. Through data collection and analysis using Microsoft Excel 365 and Dedoose software, we delineated the intricacies of the procurement process and pinpointed specific barriers that have contributed to vaccine stockouts. ResultsThe mapping of vaccine procurement processes revealed complexity, protracted timelines, and the involvement of multiple stakeholders. The Expanded Program on Immunization (EPI) faced a USD 4 million funding deficit for vaccine procurement between 2016 and 2019. Consequently, the program experienced delays in acquiring 20 million vaccine doses, leading to 41 months of stockout for at least one antigen. Major bottlenecks identified by key stakeholders in vaccine procurement and financing encompassed delayed fund mobilization, inefficient and lengthy processes for fund mobilization and disbursement, poor data utilization, and discrepancies between forecasted, allocated, and mobilized funds. ConclusionThe findings of this research hold significant implications for many EPIs. By elucidating procurement and financing challenges, we can formulate evidence-based recommendations aimed at optimizing resource allocation, streamlining procurement processes, and bolstering vaccine availability. These insights are essential for fostering collaboration between government agencies, technical partners, and financial partners to achieve sustainable vaccine access in Cameroon. Establishing a joint procurement working group could streamline processes, potentially reducing stockouts and improving vaccine coverage.

Evaluating village financial governance in top tourism destinations

Village fund management is important for village economy and welfare. Village funds in Gresik Regency, Indonesia In particular, for the 2022 period, the revenue budget is IDR. 2,355,638,000 in Pangkahkulon village, while Rp. 9,865,701,000 for Sekapuk village, demonstrating the principles of accountability and transparency for effective and sustainable development. Accountability and transparency in village fund management ensure clear financial reporting, community participation, and openness of information, despite still facing obstacles such as lack of resources and regulations. Lack of community participation reduces accountability, transparency in achieving good financial governance in 3 villages in Gresik Regency. This study proposes to assess the impact of financial governance in Sekapuk, Pangkahkulon, and Sidokumpul Villages, focusing on accountability, transparency, and community participation. Despite progress, challenges including resource constraints and regulatory changes remain. This study provides in-depth insights into the effectiveness of village financial management systems, emphasizing the importance of community participation in improving accountability and transparency and building public trust. This study explores the implementation of good financial governance in three Gresik villages, focusing on accountability, transparency, and community participation. The study design uses a phenomenological approach to understand perceptions related to transparency and accountability in village fund management in Gresik Tourism Villages through interviews and observations. Primary data were collected from village officials, and analysis was conducted using NVivo 12 Plus, prioritizing transparency and community participation. This study found that accountability in Gresik Tourism Villages requires a transparent and efficient financial system. The SISKEUDES application experienced technical problems that affected reporting, so technical improvements and staff training were needed. Transparency and community participation in meetings and discussion forums are key to increasing trust and effectiveness in village fund management. Thus, in achieving Good Financial Governance in Gresik Tourism Villages, a financial system that is accountable, transparent, and involves community participation is needed. Information technology, regular training, and supervision with NGOs are important for efficiency and transparency, and discussion forums strengthen community trust.

Does Reporting of Aksi Cepat Tanggap Cases Affected Public Trust on Zakat Institutions?

Research Originality: Funds misallocation comitted by ACT identified as fraud and the non-transparent financial that reported in online mass online media in terms of negative reporting. This influence has never been studied on the loyalty of zakat payer (muzakki) of paying Zakat, Infaq, and Shadaqah (ZIS) in Islamic philanthropy institutions (LAZ) admidst related to negative reporting of ACT.Research Objectives: This research analyze the impact of transparency, fraud management and the cases reporting of ACT on public trust in paying zakat, infaq, shadaqah in other Islamic philanthropy institutions.Research Methods: This research setted in the Bogor City among 100 respondents of muzakki in the year 2023 and 2024. Then, multiple linear regression were involved to analyze the impact of independent variables on dependent variable.Empirical Results: The results reveal that being transparent and avoiding fraud cases will significantly increase public trust in paying ZIS at LAZ institutions. Meanwhile, coverage of the ACT cases had no impact on the loyalty of muzakki who were also well-educated.Implications: LAZ are encouraged to provide information related to ZIS funds management, so that trust of the muzakki will increase. Besides, LAZ also needs to have a strong internal control system to enforce transparency in financial reporting, and effective monitoring mechanisms to prevent fraud.JEL Classification: G23, G30, Z12