Sharia Companies Research Articles

Kontribusi Faktor Fundamental Terhadap Return Saham Syariah Sektor Pertanian

This research aims to analyze the influence of the Current Ratio (CR), Return on Equity (ROE), and Debt to Equity Ratio (DER) on stock return in Sharia companies listed on the Sharia Stock Index (ISSI) for the 2015-2019 period. The population used in this research was 11 companies. The data used in this research is secondary data. The sampling method used purposive sampling method and resulted in 9 companies. The data analyze technique uses multiple linear regression. The research results show that the variables Current Ratio, Return on Equity, and Debt to Equity Ratio simultaneously influence stock return. Partially, the Current Ratio variable has a positive and significant affect on stock return, Return on Equity has a positive and unsignificant affect on stock return, Debt to Equity Ratio has a positive and unsignificant effect on stock return.

Does Gender Diversity Moderate The Relationship Between Social Responsibility to Corporate Performance and Reputation Sharia Companies?

Does Gender Diversity Moderate The Relationship Between Social Responsibility to Corporate Performance and Reputation Sharia Companies?

Pengaruh Islamicity Performance Index Terkait Nilai Perusahaan dengan Konsep Maqashid As-Syariah

The Islamicity Performance Index is a performance measurement tool that is able to reveal the materialistic and spiritual values ​​that exist in sharia companies. Performance measurement using the Islamicity Performance Index is only based on information available in the annual financial reports. This index refers to Profit Sharing Ratio, Zakat Performance Ratio, Equitable Ratio, Director Employess Welfare Ratio, Islamic investment vs non-Islamic investment, Islamic income vs non-Islamic income and AAOFI index. The results of this study indicate that Islamic financial performance (Islamicity Performance Index) is able to significantly and positively influence company value as measured using the concept of Maqashid as-Syariah. So that if the Islamic financial performance (Islamicity Performance Index) in the ranking is considered UNSATISFACTORY, it will have an impact on company value in the Maqashid as-Syariah concept which also tends to get a bad rating in the eyes of investors. And vice versa, if the rating is considered SATISFACTORY, then the value of the company will tend to get a good assessment and added value in the eyes of investors. Firm size is able to negatively moderate (weaken) the relationship of the Islamicity Performance Index to firm value in Islamic Commercial Bank companies. The results that occurred in this study could also be caused by macroeconomic factors that greatly affect the performance of Islamic banking in Indonesia with an increase in inflation which has a negative impact on Islamic banking financial performance (ROA).
 Keywords: Islamicity Performance Index; syariah companies; Maqashid as-Syariah

The Ability of the Beneish M-Score To Detect the Trends of Fraud in the Indonesian Sharia Stock Index

The purpose of this study is to determine the level of ability of the Beneish M-Score in detecting financial statement fraud tendencies. This study uses a quantitative approach with logistic regression analysis techniques. The results of this study provide empirical evidence that is different from research on manufacturing companies, state-owned companies, banking, mining, non-financial companies, property companies, real estate and building construction. The contribution of the empirical results of this study shows that overall the Beneish M-Score model is unable to detect the tendency of fraudulent financial statements in Islamic companies. DSRI, GMI, AQI, SGI, DEPI, SGAI, LVGI, and TATA has no effect on fraudulent financial statements in sharia companies.

Strategy for Achieving Social Performance of the Kanindo Syariah Cooperative, Dau Malang Branch

For sharia financial institutions that runs their business based on the philosophy of the Qur’an and Sunnah, social performance is the basis for actors in interacting with the environment and each other. One method of reporting social performance for sharia companies is the Islamic Social Reporting Index method (ISR). However, this method is still considered inappropriate to be applied to sharia financial institutions, which requires sharia financial institutions to develop their own social strategies. This research aims to determine the strategy for achieving social performance in the Dau branch of the Kanindo Syariah cooperative and to dig deeper into the reasons why the ISR method is not suitable for application to Sharia Financial Institutions. This research uses descriptive qualitative research methods. The results of the research shows that Kanindo Syariah Dau branch has a strategy consisting of collecting and distributing social funds internally and externally. As for the ISR method, three conclusions were obtained which are the reasons why this method is not appropriate for sharia financial institutions, (1) lack of concern for the environment, (2) lack of understanding regarding maqashid sharia, and (3) lack of suitability for the environmental theme of the institutions which operates in the financial sector.

Performance of Indonesia Sharia companies: Does corporate ethical identity matter?

Purpose - The development of Islamic finance has made many Indonesia sharia companies register themselves as part of the Indonesia Sharia Stock Index (ISSI). The government always encourages sharia economic growth that upholds ethics. From the Islamic perspective, ethics is the foundation of all aspects of life. This study aims to analyze the performance of Indonesia sharia companies, by linking the importance of Corporate Ethical Identity (CEI) which is implemented in corporate culture.Method - Quantitative research is reviewed through the annual reports of manufacturing companies registered at ISSI for the 2018 and 2019. Linear regression analysis, along with moderated regression analytics, was used to analyze data from 154 manufacturing companies.Result - The results of the study show that CEI has a positive influence on firm performance, and ownership structure as a moderating variable strengthens the influence of CEI on firm performance.Implication - Sharia companies in Indonesia are advised to increase CEI reporting so as to improve financial performance in accordance with sharia principles.Originality - This study represents the inaugural investigation into CEI within Islamic companies operating in Indonesia, with a specific emphasis on corporate culture. The novelty in this research is the focus on company culture, and what distinguishes it from the mentioned study is the utilization of the ownership structure concept as a moderating variable. It also incorporates the utilization of the ownership structure concept as a moderating variable.

Determinan Penting Stock Return pada Jakarta Islamic Index (JII) ditinjau dari Faktor Makroekonomi

Purpose: This study analyzes the effect of macroeconomic factors, including inflation, interest rates, exchange rates, and money supply, on the stock return rate of the Jakarta Islamic Index (JII). Methodology/approach: The data in this study were processed using the multiple linear regression approach in SPSS 26.0. The sample includes monthly data on the Jakarta Islamic Index (JII) Sharia index for ten years from January 2013 to January 2023. Results: The analysis results prove that the exchange rate and inflation have a significant negative effect on JII stock returns. In contrast, the interest rate and money supply do not have a significant relationship with stock returns. Limitations: A low adjusted R-squared value indicates that the independent variables can only explain the limited scope of the dependent variable. Thus, it can be concluded that additional variables are required to be included in this investigation. Contribution: This study is expected to provide a reference for further research. In addition, using one of the Sharia indices in this study is expected to provide a new view to novice investors that not only shares of conventional companies are traded but also shares of Sharia companies. It is hoped that this study’s results will also help investors prospect JII stock returns to help them find the best investment decision. Novelty: Many previous studies have conducted research on stock prices using the Jakarta Islamic Index (JII). However, research on stock returns using this index has not been found.

The Use of Continuous Audit to Improve the Effectiveness and Efficiency of Internal Audit Activities: A Practical Study of Distribution Sharia Company in Indonesia

The implementation of technology has encouraged internal auditors to develop continuous audits as a practical method for obtaining useful information from a set of company electronic data related to internal audit activities at all stages. Continuous audit methods allow internal auditors to process the entire population of transaction data to identify risk and internal control weaknesses that are more likely to be the subject of an audit finding. XYZ is a distribution company that continues to expand its business with more than 200 branches in Indonesia especially in sharia business. However, a large number of branches and transactions face limited internal auditors, high audit costs, low levels of audit coverage, and potential human error, which are an obstacle. This research is a design science that proposes the use of DMADV six sigma methodology as a problem-solving method to enhance the effectiveness and efficiency of internal audit activity by applying technology and audit concept in the continuous audit system. This research revealed that the internal audit cost can decrease by 45,5% to IDR 528.000.000 and audit coverage can increase by almost double to 86,3% in a year.

The Moderating Role of Corporate Governance on Financial Ratio, Firm Size and Tax Avoidance at Indonesian Sharia Companies

In this study, corporate governance will be used as a moderating variable to experimentally evaluate the relationship between leverage, firm size, and tax avoidance. Companies are currently engaging in some tax avoidance to limit the tax levied against them. This can impact how much income the company acquires, which in turn lowers the share profit distributed to stakeholders. A Sharia company registered with JII 70 makes up the study population using an associative quantitative research approach. The SPSS application is used in data analysis methods. The findings indicated that the profitability variable directly impacted tax avoidance, whereas the leverage variable had no bearing and the firm size variable had an impact. The results of the indirect effect analysis, namely moderation analysis, found that corporate governance moderates the relationship between profitability and firm size with tax avoidance, and corporate governance cannot moderate the relationship between leverage and tax avoidance.

Pengaruh Islamicity Performance Index Terkait Nilai Perusahaan dengan Konsep Maqashid As-Syariah

The Islamicity Performance Index is a performance measurement tool that is able to reveal the materialistic and spiritual values ​​that exist in sharia companies. Performance measurement using the Islamicity Performance Index is only based on information available in the annual financial reports. This index refers to Profit Sharing Ratio, Zakat Performance Ratio, Equitable Ratio, Director Employess Welfare Ratio, Islamic investment vs non-Islamic investment, Islamic income vs non-Islamic income and AAOFI index. The results of this study indicate that Islamic financial performance (Islamicity Performance Index) is able to significantly and positively influence company value as measured using the concept of Maqashid as-Syariah. So that if the Islamic financial performance (Islamicity Performance Index) in the ranking is considered UNSATISFACTORY, it will have an impact on company value in the Maqashid as-Syariah concept which also tends to get a bad rating in the eyes of investors. And vice versa, if the rating is considered SATISFACTORY, then the value of the company will tend to get a good assessment and added value in the eyes of investors. Firm size is able to negatively moderate (weaken) the relationship of the Islamicity Performance Index to firm value in Islamic Commercial Bank companies. The results that occurred in this study could also be caused by macroeconomic factors that greatly affect the performance of Islamic banking in Indonesia with an increase in inflation which has a negative impact on Islamic banking financial performance (ROA).
 Keywords: Islamicity Performance Index; syariah companies; Maqashid as-Syariah

Sustainable sharia company ecosystem: Independent commissioner and audit committee on Islamic social reporting

Purpose – Disclosure of information is crucial for company values and minimizing conflicts resulting from knowledge asymmetry, especially in social aspects. Stakeholders require information reporting that is transparent, accountable, responsible, and exhaustive. In this study, the independent variables are independent commissioners and audit committees, and the dependent variable is Islamic social reporting. The size of the company served as the control variable for this study.Methodology – The population in this study used sharia companies registered in the Jakarta Islamic Index (JII) for the period 2016-2022. This study used the purposive sampling method and selected 13 companies from a total of 30 companies with data collection twice a year. The analysis technique used is multiple linear regression with SPSSv22 software.Findings – The results of this study show that independent commissioners and audit committees do not affect Islamic social reporting.Implications – This study aims to determine the influence of independent commissioners and audit committees on Islamic social reporting.Originality – This study has originality in the form of Islamic Social Reporting (ISR) proxy variables, which combines the ISR disclosure index designed by Haniffa and Cooke (2002) and Othman and Thani (2010). There are 48 ISR disclosure items divided into six themes. In addition, in this study, there is a control variable, namely the size of the company used to improve the accuracy of the research

Sharia’s Accounting Information Disclosure, Accountability, and Auditor Independence Effects on Stakeholder Trust: Analysis on Sharia Companies in Capital Market

Businesses in the food and beverage sector have strong opportunities to grow in their operations because people consume more food and beverages. In order to calculate the level of future risk, data relating to financial proportions must be worked out in other financial investigation structures. Investigating the financial challenges faced by companies in the food and beverage sector that trade conventional and Islamic stocks on the Indonesia Stock Exchange is the aim of this study. The research examines the relationship between these factors and stakeholder trust in order to understand the impact of accounting practices and auditor independence on the trustworthiness of Sharia companies. The study utilizes quantitative and associative approach. By measuring linearly and clauses to describe the relationship between two or more variables, associative research techniques are a type of research that uses statistical calculations to test hypotheses. Audit delay is one of the things that tempts businesses to change auditors. This study supports the hypothesis that organizations that experience audit delays are more likely to change auditors in the next period in an effort to win back investor confidence. The test findings show that audit opinion, audit delay, and financial strain all impact auditor turnover at the same time. The research findings show that organizations that experience accounting losses do not experience financial difficulties directly. Usually, businesses whose shares are listed on the Islamic stock index have stronger financial strength.

ANALYSIS OF ROE AND BOPO OF INDONESIA SHARIA BANK COMPANY ON FINANCIAL PERFORMANCE: USING EVIEWS 9

This research is motivated by the merger between Bank Rakyat Indonesia Sharia (BRIS) company which change into Indonesia Sharia Bank (BSI) company. Several factors influence it, one of which is the stock price. This share price is also influenced by financial ratios including ROE and BOPO. ROE and BOPO have reports that are very influential on BSI's share price because in sharia banking reports the second value has a significant value in the financial statements in the quarter when BRIS merged into BSI. This type of research was a quantitative descriptive research. The company was Indonesia Syaria Bank company. The data used in this research was secondary data in the form of time series data obtained from the financial reports of Indonesia Syaria Bank company. The analysis technique used multiple linear regression analysis with the help of the Eviews 9 program. The results show that simultaneously the ROE and BOPO financial ratios have a significant effect on stock prices. Partially, the financial ratio variable ROE has an effect but not significantly on stock prices. Meanwhile, the financial ratio variable BOPO partially has a negative and significant effect on stock prices.

Comparison Between High-Tech and Non-High-Tech Sharia Companies in Indonesia

This study aims to examine and determine the significant difference between the internet financial reporting index of Islamic companies in the high-tech and non- high-tech categories in companies listed on the IDX JII Index in 2014-2018. This research method uses quantitative methods, using all data from the Indonesia Stock Exchange, especially Islamic companies listed on the IDX JII Index. Sampling companies use purposive sampling method and analysis of IFR components, calculate the IFR value, classify the type of company and the T Different test (Independent Samples Test). The results of this study indicate that high-tech and non-high-tech companies have a significant value of 0.025 > 0.05, meaning that there is a significant difference between companies in the high-tech and non-high-tech categories in Islamic companies listed on the JII Index. BEI 2014-2018.
 Highlights:
 
 Significance of the study: The study aims to determine the significant difference in the internet financial reporting index between high-tech and non-high-tech Islamic companies listed on the IDX JII Index. This highlights the importance of understanding the online reporting practices of different types of companies in the Islamic finance sector.
 Methodology: The study employs quantitative methods, utilizing data from the Indonesia Stock Exchange and applying the independent samples t-test to analyze the internet financial reporting components and calculate the index value. The purposive sampling method is used to select the companies for the study, ensuring a representative sample.
 Findings: The research findings indicate a significant difference (p-value of 0.025) between high-tech and non-high-tech Islamic companies in terms of their internet financial reporting index. This suggests that the level of online reporting varies between the two categories, emphasizing the need for tailored approaches in assessing and improving internet financial reporting practices.
 
 Keywords: Internet financial reporting index, Islamic companies, High-tech and non-high-tech categories, IDX JII Index, Quantitative methods

The effect of audit quality and capital intensity ratio on earning management in sharia listed companies

Purpose - This study aims to determine the effect of audit quality and capital intensity ratio on earnings management in companies listed on the Indonesia Sharia Stock Index in 2017-2020.Method - This study is quantitative research using secondary data obtained from the summary of audited financial statements. Data sampling was selected by purposive sampling method based on certain criteria. The analysis technique used is multiple linear regression.Result - The results show that the size of the public accounting firm has a negative effect on earnings management; it is more credibility consideration. The audit tenure has a positive effect on earnings management. It creates an emotional connection that is reluctance to disclose misappropriation. The auditor industry specialization has a negative effect on earnings management; it is more in-depth various accounting policies to find earnings management. The capital intensity ratio does not affect earning management; it is business and finance consideration. Accounting policies in depreciation is carry out when management has decided to invest in fixed assets.Implication - Sharia companies should pay attention to audit quality and capital intensity ratios in relation to earnings management.Originality - This is a study to test the existence of earnings management in Sharia companies in terms of audit quality and capital intensity ratio factors.

Green economy: Islamic social reporting for companies

Purpose - The purpose of this study is to examine the impact of Islamic social reporting on firm value.Method - This research uses quantitative methods. The sample in this study is 13 sharia companies registered in the Jakarta Islamic Index for 2016-2020. Data analysis using multiple linear regression. Islamic social reporting as an independent variable, while the firm value is measured using Tobin's Q as the dependent variable, and firm size as a control variable.Result - The empirical results in this study found that Islamic social reporting has a positive and significant effect on firm value.Implication - Sharia companies listed in the Jakarta Islamic Index are expected to focus on Islamic principles in carrying out activities including in social aspects to increase company value as part of the company's strategy.Originality - This study combines the ISR disclosure index from several previous researchers to measure ISR disclosure in Islamic companies.

Islamic Education-Based Islamic Human Resource Development Model (Case Study of PT Asuransi Takaful Keluarga Jakarta Marketer)

The purpose of this study is to analyze the human resource development model of sharia companies based on Islamic religious education for marketers, as well as the implementation of sharia company HR development models based on Islamic religious education for marketers at PT Asuransi Takaful Keluarga Jakarta. This study used qualitative research methods. Researchers chose to collect data by describing what the researchers encountered in the field. The data collection procedure used by the researcher in this research is observation, interview, and documentation. The results are HR development program at PT Asuransi Takaful Keluarga Jakarta, namely with two types, first, sharia training which is carried out every month and second, training for marketers is carried out with four levels of training, namely: fast start, basic training, intermediate training, and leader advance training. The new concept of sharia marketer education is not only a marketing competency that is considered, but also built and developed in aspects of Islamic religious education, namely monotheism and morals as exemplified by the Prophet Muhammad S.A.W. The implementation of the HR development model for sharia companies based on Islamic religious education for marketers at PT Asuransi Takaful Keluarga Jakarta is to make marketers more sincere, love customers (love customers), do not market by cheating, and feel that they are mujahid da'wah, and build mental awareness by soul marketing. After the marketing soul becomes the basis of the mindset of a marketer, the soul will become the basis of the company's movement and become the core of the implementation of the marketing strategy that will be carried out. If it has been implemented on an ongoing basis, then the concept of soul marketing can become a marketing morale for marketers. And this is the essence of Islamic religious education itself.

Effect of Profitability, Leverage and Liquidity on Islamic Social Reporting Disclosure before and during the COVID-19 Pandemic in the Jakarta Islamic Index (JII) Companies

Aims: This study aims to determine the effect of profitability, leverage, and liquidity on the disclosure of Islamic Social Reporting empirical studies on companies listed on the Jakarta Islamic Index in 2019 and 2020.
 Study Design: This study using the quantitative descriptive method.
 Place and Duration of Study: Companies listed on the Jakarta Islamic Index in 2019 and 2020
 Methodology: This study uses quantitative data with secondary data inside the shape of an annual report.The population is all sharia companies listed in the Jakarta Islamic Index, totaling 30 companies with a sample of 22 companies. Data analysis in this study was performed using multiple linear regression using IBM SPSS, namely Descriptive Statistics and Multiplelinear Regression.
 Result: The results of this study are that profitability has a significant positive effect on ISR disclosure before Covid-19 and a significant negative effect on ISR disclosure during Covid-19, leverage has no significant effect on ISR disclosure before Covid-19 and leverage has a significant positive effect on ISR disclosure during Covid-19 , and liquidity has no significant effect on the disclosure of ISR before and during Covid-19.
 Conclusion: Profitability has a significant positive effect on ISR disclosure before Covid-19 and a significant negative effect on ISR disclosure during Covid-19, leverage has no significant effect on ISR disclosure before Covid-19 and leverage has a significant positive effect on ISR disclosure during Covid-19 , and liquidity has no significant effect on the disclosure of ISR before and during Covid-19.

Standardization of Companies and The Islamic Business Environment in Indonesia

Talking about Islamic business is closely related to mu'amalah (economy) which is based on Islamic law. Understanding of sharia companies and the current business environment is very necessary for Muslim business actors to support their understanding of sharia companies and the sharia business environment in accordance with sharia principles including noble moral values such as morals (fair, honest, trustworthy, professional, transparent, and ethical). honest), al-amin/amanah, avoiding the words "haram" and dzalim), these are the basic principles in carrying out business practices for Muslim entrepreneurs. This study aims to reveal and analyze related to Standardization of Companies and the Sharia Business Environment in Indonesia and the Urgency of Choosing Companies and the Sharia Business Environment in Indonesia?. The method in this study uses a library research method with the main sources from books, journals and the internet as well as other literature on Corporate Standardization and the Islamic Business Environment in Indonesia. The results showed that Islamic companies are companies that have obtained a halal certificate from the LPH (Halal Guarantee Agency) from the Indonesian Ulema Council, with various categories including; 1) Have a certificate of Halal Assurance Certificate (SJH); 2) Obtain “A” status in all listed facilities; 3) Perform timely renewal (register to CEROL-SS23000 three months in advance and finish no later than the previous validity period); 4) There were no weaknesses during the audit for the last four years (not the result of improvement of weaknesses). Therefore, the embodiment in creating an Islamic Business Environment that needs to be emphasized is Islamic business ethics itself, such as improving service to consumers, providing adequate company places/locations, superior facilities and so on.

PROFIT MANAGEMENT ANALYSIS OF THE CONSUMER GOODS INDUSTRY IN INDONESIA: SHARIA VERSUS NON-SHARIA SHARE

Profit management is carried out by the company to achieve the manager’s motivation to achieve profit targets which are applied in managing financial statements. Many factors can affect profit management. This study aims to determine the factors that influence profit management in the consumer goods industry sector, at sharia and non-sharia. This data uses the financial reports and the annual reports of manufacturing companies at IDX (Indonesian Stock Exchange) in 2016-2019 with 19 sharia companies and 10 non-sharia companies. This study uses the Multiple Linear Regression analysis on the panel data with dependent variables: tax planning, current tax expense, profitability, audit committee, company size, managerial ownership, and leverage. The results of this study show all the variables both in sharia and non-sharia manufacturing companies in the consumer goods industry in the 2016-2019 influence together with the profit management. The coefficient of determination for these models is 72% at sharia shares and 51% at non-sharia shares. According to the t-test, it shows that tax planning, current tax expense, and managerial ownership influence profit management in sharia shares and only the company size influences profit management in non-sharia shares at manufacturing companies in the consumer goods industry in Indonesia at 2016-2019.