Sharia Market Research Articles

THE INFLUENCE OF FINANCIAL RATIO ON FIRM VALUE WITH ISR AS AN INTERVENING VARIABLE

One of the more attractive investments for investors is sharia investment because this investment can provide profitable results for both parties and considering that 80% of Indonesia's population is Muslim, the sharia market in Indonesia is very large. The aim of this research is to determine the effect of financial ratios on company value with the intervening variable ISR. The sample for this research is companies listed on the JII index for the 2017-2021 period with a final sample of 24 companies out of 26 companies. This research uses panel data regression data analysis methods. The results of this research are that the firm size variable has a significant but negative relationship with ISR disclosure, the profitability variable has a significant positive relationship and leverage has a significant negative relationship with firm value. Apart from that, the profitability and leverage variables do not have a significant relationship with the ISR score and the firm size variable and the ISR disclosure variable do not have a significant relationship with the firm value. for the intervening variable ISR disclosure is not able to mediate the independent variables profitability, firm size and leverage on the dependent variable firm value.

The role of investment knowledge, student perceptions, and technological advances in affecting investment interests in sharia capital markets

This research aims to analyze the influence of investment knowledge, student perceptions, and technological advances on investment interests in Sharia capital markets. Employing a quantitative approach, the study utilizes non-probability sampling methods, specifically the convenience sample system, to select 312 active students from a total population of 5000 at Perbanas Institute. Double linear regression is employed for data analysis. The findings reveal significant implications for the role of technological advancements in shaping student investment interest in Sharia capital markets. Specifically, the study finds that the presence of technological advancements, such as applications and trading platforms, positively impacts student interest in investing in the Sharia market. However, contrary to expectations, investment knowledge and student perceptions do not demonstrate a significant influence on student investment interest in Sharia Capital markets. This suggests that despite possessing knowledge and certain perceptions, students' investment decisions in Sharia capital markets remain unaffected. The practical implications of these findings emphasizes the importance for students to remain abreast of technological advancements to potentially enhance their investment interest in Sharia capital markets. This research contributes to understanding the multifaceted factors influencing investment decisions in Sharia-compliant financial environments and underscores the significance of technological integration in shaping investment behaviors among students.

Pengaruh Analisis Fundamental, Teknikal dan Bandarmologi terhadap Harga Saham Syariah yang Terdaftar di Jakarta Islamic Index Periode 2018-2021

Equity-based sharia stocks that comply with Islamic principles. One of the sharia stock indices is the Jakarta Islamic Index (JII). JII is an index consisting of the 30 most liquid Islamic stocks on the IDX which was launched in 2000. To select 30 Islamic stocks to be included in the index calculation, there are additional criteria carried out by IDX, namely liquidity criteria. The liquidity indicators used are based on market capitalization and daily transaction value. Usually calculated based on the last one year period and every day there must always be transactions. This study uses a quantitative descriptive research method, namely research that emphasizes the analysis of numerical data processed by statistical models. This method is called the quantitative method because the research data uses numbers that indicate the value of the observation variable that leads to a certain time period. This research results that from the results of the t test table it is known that the fundamental analysis variables partially influence the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) in 2018-2021. From the results of the t test table it is known that the technical analysis variable has a partial effect on the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021. From the results of the t test table it is known that the bandarmological analysis variable has a partial effect on the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021. From the results of the f test table it is known that the variables of fundamental analysis, technical analysis, and bandarmological analysis simultaneously influence the prices of Islamic stocks listed on the Jakarta Islamic Index (JII) for 2018-2021.
 Keywords: Fundamental Analysis, Technical, Bandarmology, Sharia Stocks, Sharia Market

The FINANCIAL PERFORMANCE AND MACROECONOMIC FACTORS AFFECTING SHARIA BANKING MARKET SHARE IN INDONESIA

This research aims to find out which variables influence the sharia market share in Indonesia. This research is quantitative research with secondary data. The variables used in this research are financial performance with DPK, NPF, FDR and ROA indicators, as well as macroeconomic factors with indicators of inflation, interest rates and exchange rates. The sample for this research is the 2019-2023 Islamic banking monthly report. This research uses multiple linear regression analysis methods with partial tests (t tests), simultaneous tests (f tests) and coefficient of determination (R2). The results of this research are that DPK and the exchange rate have a significant effect on market share, while other variables NPF, FDR, ROA, Inflation & Interest Rates do not have a significant effect on market share.

Analysis of the Effect Spin-Off Increasing Shariah Compliance in Indonesian Islamic Bank

Sharia banks are committed to growing with the potential and sharia market. But sharia banks also want to be pure sharia everywhere. One way is by spin off, but it turned out to be stagnant and not in accordance with the percentage of the sharia market in Indonesia. Sharia bank efficiency does not grow rapidly and profits are minimal when spin off. The aim of this research is to analyze the impact of bank spin-offs on Sharia bank compliance. This research method uses a causative qualitative method, based on qualitative data looking at the cause and effect relationship of a policy. To strengthen the results, deep structured open interviews were used from policy makers (BI), academics and Islamic bank spin-off actors. The results show that Spin off is a necessity as mandated by Law No. 21 of 2008, because on the one hand it wants to be a goal for halal Islamic banks in a big way. The impact is that banks that have been spun off will increase their sharia compliance more than UUS, even though the growth is not very significant and their business is not very efficient.

Muslim Non-Cash Transaction Behavior: The Moderating Role of Religiosity

Despite years of exploration, empirical evidence regarding the mediating role of religiosity in the relationship between non-cash interest and behavior is still lacking. This study analyzed the behavior related to the use of non-cash transactions by Muslim communities moderated by religiosity based on the TAM model. The sampling technique in this study used purposive sampling with a total of 438 respondents. The data in this study were analyzed using Partial Least Square Structural Equation Model (PLS-SEM) with Smart PLS 3.0. The results of this study reveal that religiosity can moderate the interest and behavior of using non-cash transactions. Besides that, the perceived ease of use and perceived usefulness have a significant positive effect on consumer behavior in using non-cash transactions, which are proxied by attitude and interest. These results indicate that the Muslim community is accepting and even supporting the development of technology in the payment system because technology brings convenience and benefits. As a result, players in the Islamic finance and halal market should pay close attention to the advancements in payment system technology to ensure the Muslim community prefers payment products on the Sharia market.

BSI Mobile Adoption Process with Religiosity As a Moderation Variable

During a pandemic like today, new habits have emerged in society, one of which is conducting financial transactions. The presence of Bank Syariah Indonesia is expected to have the financial and technological capabilities to meet customer needs following sharia principles and reach the currently unspoiled sharia market by creating an Islamic ecosystem and becoming one of the centers of sharia economy and finance in the world. The BSI Mobile application is the right solution with ease for benefits such as paying infaq, alms, and hajj savings deposits, to opening an account online. In this study, the superiority of the BSI Mobile feature as a spiritual, financial, and social friend following the main target of Islamic banks in Indonesia is Muslims, then the potential of the Islamic banking market in Indonesia is very large. This study uses a sample of 308 prospective customer respondents. Analysis using SEM and based on PLS (Partial Least Square) shows that innovation and bank reputation have a significant effect on attitudes and intentions to adopt BSI Mobile, except for bank reputation on attitudes which are moderated by religiosity. This study can provide input to Bank Syariah Indonesia to improve mobile banking services amidst the development of digital banking technology and after the Covid-19 pandemic.

The Merger of State-Owned Enterprises of Bank Syariah Indonesia in Positive Legal Review and Maqashid Syariah

As a form of the government's participation in paying attention to and developing the market share of the Islamic economy in Indonesia, the three state-owned Islamic banks (BNI Syariah, BRI Syariah, and Mandiri Syariah) were merged into one. With the hope of being able to expand the Islamic banking market both nationally and internationally. This study aims to examine the merger of the three state-owned Islamic banks in terms of positive Law in it and to review it from the perspective of Maqashid sharia. This study uses a qualitative descriptive method by using secondary data obtained through a literature review with references from books, journals, and other literature related to this research. The results of this study indicate that the merger of state-owned banks, Bank Syariah Indonesia, is on the right track, legally positive, and in terms of Maqashid sharia. This is a step and effort by the government in maintaining and developing sharia market share in line with the maqashid sharia principle; keep and or attract good and keep away bad. In addition, some of them are launching a literacy program in understanding the concept of Islamic economics for the community so that the noble values ​​of Islam are maintained and run in banking economic activities. However, it still requires other developments in the aspect of justice that must be initiated by BSI, of course, by continuing to carry the message of sharia in it.

The Existence of Indonesian Islamic Market Stocks During The Covid-19 Pandemic

When the first Covid-19 case entered Indonesia, Jakarta Composite Index (JCI) underwent a very deep correction until it reached its lowest point in the last decade, from the level of 6,300 to the level of 3,975 as of March 24, 2020. But, an interesting fact in the following months the JCI consistently rose, and even managed to break back above the 6000 level in the period from the end of 2020 to the beginning of 2021. Indonesia has again won the nomination for the category 'The Best Islamic Capital Market 2020' from the Global Islamic Finance Awards (GIFA). The growth of the Islamic capital market during the pandemic was also influenced by the development of the Sharia Online Trading System. This study wants to explain the existence of the Indonesian Islamic capital market during the COVID-19 pandemic. This study uses a qualitative approach with descriptive analysis method. The result of this study is that Indonesian Islamic capital market managed to rise from the crisis slump at the beginning of the emergence of the first cases of Covid-19 entering Indonesia. This is shown by several important points, such as the increase in the number of Islamic stock investors which reached 25.2%, sharia market capitalization reaching 3,344.9 trillion rupiah and The value of outstanding sukuk through public offerings as of October 2021 reached Rp. 34.98 trillion, with the number of successful series issued as many as 186 series.

Role of Influencer Contents on Sharia Stock Market Activities in Indonesia During The Covid-19 Pandemic

This study aimed at analyzing the effect of influencer contents posted on social media such as Twitter, Instagram, and YouTube on sharia market activities in Indonesia during the Covid-19 pandemic and analyzing the success of influencers in educating the Indonesian citizens about the importance of making investment. In this study, the influencer contents studied were those about Islamic stocks posted by very popular influencers in Indonesia such as Kaesang Pangarep and Rafi Ahmad. The research used a qualitative descriptive analysis with the primary data in the form of influencer contents and the secondary data in the form of financial statements on the affected sharia stocks and several other secondary data from websites, electronic newspapers, and social media.
 Keywords: Sharia Stock Market; Influencer; Contents; Social Media; Covid-19

EKSPANSI PASAR PERBANKAN SYARIAH DALAM BIDANG INDUSTRI HALAL (STUDI KASUS: BANK NAGARI SYARIAH KANTOR CABANG SOLOK)

Indonesia has the most Muslim population in the world. This encourages Indonesian people to choose to live in sharia. Sharia is very closely related to the halal industri. One area that has opportunities to develop the halal industry is Solok City, West Sumatra. Seeing the potential of the halal industry in Solok City, there is a need for optimal utilization by Islamic banking institutions, namely Bank Nagari Syariah, Branch Office of Solok. The halal industry must be developed in all sectors, but the sharia market share is not yet wide. The halal industry must be able to encourage the share of the Islamic banking market to develop a wider range of Islamic goods and services. Bank Nagari Syariah Solok Branch Office can encourage the halal industry in Solok City. With the enthusiasm of the community to run the sharia system, encouraging Bank Nagari Syariah, Solok Branch Office to provide financing to develop the halal industry.

KIPRAH KOPERASI SYARIAH DALAM MENGELOLA PASAR TRADISIONAL MENURUT PERATURAN MENTERI KOPERASI DAN USAHA KECIL DAN MENENGAH NOMOR : 11/PER/M.KUKM/XII/2017

Today's sharia cooperatives have begun to show a very positive view among the community, where the mindset is built that by adhering to sharia principles there will be no element of usury in running their business so that people feel safer if they join cooperatives. Traditional market management by sharia cooperatives will be much more useful and make it easier for members to obtain business capital loans in the form of sharia concepts. With the issuance of this cooperative ministerial regulation which will regulate savings and loan business activities and sharia financing, it will foster the passion of traditional markets because market traders will be helped directly from the financing aspect in carrying out their business activities. Sharia savings and loan and financing activities by sharia cooperatives will encourage the openness of the mental attitude of traders who feel protected from usury behavior and will get blessings for any business profits obtained, if this is embedded in the mindset of every market trader then it is only natural that the market will advance and the community will be spared from business patterns that contain usury element. Traditional markets under the management of sharia cooperatives sooner or later the community paradigm will wake up that traditional market activities will change the designation to the term sharia market. The regulation of the minister of cooperatives and small and medium enterprises number: 11/Per/M.KUKM/XII/2017 concerning the implementation of savings and loan business activities and sharia financing by cooperatives has provided a very significant space for traditional market traders in running their business.

The Role of Macroeconomic Factors as Moderating the Global Sharia Stock Index to the Indonesian Sharia Stock Index

This study examined the influence of the global sharia stock index on the Indonesian sharia stock index considering macroeconomic factors and their moderating role. The Global sharia Stock Index in this study used the Dow Jones sharia Market Index and the FTSE Global sharia Index Series. The role of moderation is proxied by inflation rate and exchange rate. The research data analysis method used multiple regression analysis and interaction test or moderating regression analysis. The results of the study showed that there was an influence of the Global Sharia Stock Index on the Indonesian Sharia Stock Index. In the moderation equation 1 (inflation) and moderation 2 (exchange rate) that interact with the Dow Jones sharia Market Index has a positive influence on each moderation equation. This showed that a moderating interaction with the Dow Jones sharia Market Index will strengthen its influence on the Indonesian Sharia Stock Index. The FTSE Global sharia Index Series that interacted with inflation in moderating equation 1 and the exchange rate in moderating equation 2 showed a negative effect. This showed that the interaction of the FTSE Global sharia Index Series with the two macroeconomic variables in each equation weakens its influence on the Indonesian Sharia Stock Index.

The interest of the millenial generation to invest in the sharia market through fintech technology

The purpose of this study was to examine the influence of investment knowledge, personal and environmental interests on online investment interest. This type of research uses quantitative methods with primary data collection through questionnaires. The analytical method used is multiple linear regression as measured by SPSS 20. The results of this study indicate that investment knowledge, personal interests, and the environment have a significant positive effect on online investment interest. It can also be concluded that all independent variables have a significant effect on the dependent variable on online investment interest.Keywords: Investment knowledge, personal interest, environment, and financial technology

ANALISIS TRANSAKSI SYARIAH DI PASAR SYARIAH KAMPAR RIAU

This study discusses the analysis of Islamic transactions in the Islamic market ulul albab siak hulu kampar Riau. According to Athoillah and Waldelmi, I, the dimensions of buying and selling / sharia transactions for customers can be seen in the existence of goods, prices, honesty / trustworthiness, buying and selling systems and Aqad. This study uses a survey method on ulul albab sharia market customers, using questionnaires, discussions, interviews and analyzed with descriptive techniques, the results obtained from research that the implementation of sharia transactions conducted in the ulul albab sharia market in the assessment is quite appropriate. Using five dimensions and proven to be the highest dimension in the payment system done in cash, which means that almost all transactions carried out in the Islamic market by market customers are preferred with cash payments while the lowest dimensions are in the buying and selling system in the Islamic market where between ulul albab sharia market with an ordinary (conventional) market is the same in terms of carrying out buying and selling transactions Keywords: Sharia customers, traders and buying and selling systems

STRATEGI MEWUJUDKAN PASAR NIAGA DAYA MENJADI PASAR ISLAMI BERBASIS FAST (FATHONAH, AMANAH, SIDDIQ, TABLIQ) DI DAYA KOTA MAKASSAR

This study aims to determine the strategy of realizing the Daya Commercial Market into a FAST-Based Islamic Market (Fathonah, Amanah, Siddiq, Tabliq) in Makassar City Power and knowing the benefits of Islamic trade for traders in the Niaga Daya Market. This type of research used in this study is field research that produces descriptive data in the form of written data or informants and observable behavior. While the data analysis techniques used in this study were interviews, observation, and documentation. Then processed using qualitative descriptive. Based on the results of the study it can be concluded that realizing Islamic trade based on FAST, namely Fathonah (creative and smart), Amanah (trust), Siddiq (honest or transparency), Tabliq (Mutual respect), namely by creating programs that can foster awareness of traders, especially awareness will instill the nature of FAST (Fathonah Amanah Siddiq Tabliq) by forming IPPS (Sharia Market Traders Association). The benefits of Islamic trade for traders in the Niaga Daya Market are that people will be interested in shopping at the Niaga Daya market, traders can compete healthily, establish good relations between fellow traders, between traders and market managers, and between traders and buyers. In addition, traders in the Commercial Market Market can benefit both worldly and the hereafter.

Modified capital asset pricing model (CAPM) into sharia framework

This study is to expose the sharia concept in the Islamic market, especially on the practice of the equilibrium model or the Capital Asset Pricing Model (CAPM). Islamic index and sharia market are introduced to answer the Islamic investment. However, we cannot apart from the interest rate, which is related to ‘riba’ and prohibited in Islam religion. Many references proposed the Islamic theory into the CAPM, so the model has been modified and adjusted to deliver the new solution on sharia investment. We provide a general illustration to explain how the sharia concept in CAPM as an equilibrium model and its implementation in Jakarta Islamic Index (JII). The result shows that the range of return is various, while the risk both beta and standard deviation have remained steady. The result shows that the Sharia version with the Sukuk rate performs better than the others from the expected return.

Pengembangan Ekonomi Desa dalam Islam: Penerapan Sharia Value di Pasar Tradisional

<p>This study aims to determine how the implementation of trade activities and the aplication of Islamic Sharia Values at az-Zaitun Sharia market and to know the efforts of it in realizing of local economic independence. A qualitative approach wa employed in this field research, the data collection techniques include observation and interview with the sellers and the founder of az-Zahra sharia market. The results of this study indicate that, firstly, the establishment of az-Zaitun sharia market aims to protect the consumers and to create an equitable price. Secondly, the sellers has implemented 8 concept formulated by the founder, but there have some obstacles. It is caused by the exixtence of illegal market around az-Zaitun. Thirdly, az-Zaitun sharia market can bedeveloped to realize a local economic independence by making the market as a product wondow for the communities.</p>

IMPLEMENTASI KONSEP KEADILAN ISLAMI DALAM BISNIS PERSPEKTIF PEDAGANG PASAR SYARIAH AZ-ZAITUN I SURABAYA

The aim of this research was to describe the implementation of the concept of Islamicfairness in business by traders of the Az-Zaitun I Surabaya Sharia Market. This research uses qualitative approach with descriptive case study strategy. The primary data obtained using purposive sampling through interviews. Participatory observation also conducted to the traders. Secondary data is obtained from textbooks, scientific journals, and online articles that are relevant to this research. Then, triangulation conducted and analyzed to get the conclusion. The result of this study shows that the traders of the Az-Zaitun I Surabaya Sharia Market apply all of fair concept according to the three meanings of fairness, namely equal, proportional, and divine orientation. The conclusion is even though it doesn't have a market supervisor, The Az-Zaitun I Surabaya Sharia Market has applied the three meanings of Islamic fairness, namely equal, proportional, and divine orientation.Keywords: Islamic Fairness, Equal, Proportional, and Divine Orientation.

Information search trends about sharia: a comparation study between business-industry genre with book-literature genre

Indonesia has a large sharia market potential. This is because Indonesia has the largest Muslim population in the world. The market potential is supported by the openness of information via the internet. This study aims to observe trends in information search on the internet about sharia with comparative studies on the genre of "business-industry" with the genre of "book-literature". The approach in this research is descriptive qualitative with the method of a literature study to collect data. The primary data of this study are the trends in sharia information sought by internet users throughout 2019. The results of the study indicate that the trend of information about sharia with the "business-industry" genre is more than the "book-literature" genre. The trend of seeking information about halal is the most trend in both genres, while the trend of finding the least information is information about sharia research.