Authors:Ibnu Qizam, Misnen Ardiansyah, Abdul Qoyum Pages: 269 - 290 Abstract: The aims of this study were to examine the resilience of non-sharia stock in Indonesia, to measure the impact of macro-economic variables and micro-company specific factors toward resilience. All the data, including 30 non-sharia companies in Indonesia, are retrieved from Indonesia Stock Exchange and Bloomberg database. Our dataset spans from 2005 to 2013, the study employs GMM Estimation Approach to estimate the determinants of company’s resilience in Indonesia. The results find that profitability ratios (ROE, ROIC, NIM), liquidity ratio (CASHR, CURR), debt asset ratio, and lagged dependent variable (Mertonit-1) are found to be statistically significant determinants of Merton distance-to-default. The company size is not a good predictor of the default risk for companies observed. This study emphasizes the benefits of using several accounting-based measures in company-default prediction models. PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.269-290 Issue No:Vol. 11, No. 2 (2018)
Authors:Riduwan Riduwan, Rofiul Wahyudi Pages: 291 - 308 Abstract: The purpose of this research will be to answer the contribution of the macroprudential policy of Central Bank to the microprudential of islamic banking during the period of January 2008 - February 2016. The method used by quantitative analysis with panel data regression to be able to describe macroprudential policy contribution to FDR of islamic banking in Indonesia. Macroprudential policy instruments use Loan-to-Value Ratio (LTR), Statutory Reserves (GWM) based on Loan-to-Funding Ratio (LFR) and Countercyclical Capital Buffer (CCB). The islamic bankingmicroprudential instrument used is Financing to Deposit Ratio (FDR). The result shows that macroprudential policy contribution through LTV instrument to FDR has negative and significant influence. Statutory Reserves based on LFR on FDR have a positive and significant influence and CCB on FDR of Indonesia’s islamic banking shows negative and significant influence. PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.291-308 Issue No:Vol. 11, No. 2 (2018)
Authors:Sutrisno Sutrisno Pages: 309 - 328 Abstract: The aims of this study were to examine the effect of risks consisting of credit risk (NPL/NPF), capital risk (CAR), liquidity risk (LDR/FDR), and operating risk (OEOI) on rural banking performance as measured by return on assets ROA), the differences in risk and performance of Islamic Rural Banking (IRB) and Conventions Rural Banking (CRB). The population is all banking in Indonesia whether operating in Islamic or conventionally with purposive sampling method. The results showed that NPL in CRB had not significant effect, while NPF IRB had negative significant effect on performance. In contrast, CAR on Islamic Rural Banks had not significant effect, while CAR of conventional rural banking has positive significant effect on performance. Liquidity risks (LDR/FDR), both IRB and CRB have positive significant impact on performance. While the operational risk (OEOI) has a negative significant effect on the performance of CRB as well as IRB. Differential test results indicate that there are significant differences between CRB and IRB in terms of profitability (ROA), credit risk (NPL / NPF), liquidity risk (LDR / FDR) risk, and operating risk (BOPO). PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.309-328 Issue No:Vol. 11, No. 2 (2018)
Authors:Agus Eko Sujianto, Sokib Sokib Pages: 329 - 350 Abstract: The purposes of this research are to evaluate the difference of export value of ASEAN member countries before and after economic crisis in 1998 and to evaluate the difference of import value of ASEAN member countries before and after economic crisis in 1998. While export and import become the main variable of research this sekgus is an important component of the preparation of the trade balance. The research data used secondary data of export and import in 1982-1997 (period before economic crisis in 1998) and 1999-2014 (period after economic crisis in 1998) from annual publication of ADB. Based on the Paired Sample t-Test test it can be argued that: the export value of ASEAN member countries before and after the crisis differed significantly and the import value of ASEAN member countries before and after crisis differed significantly PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.329-350 Issue No:Vol. 11, No. 2 (2018)
Authors:Suryani Suryani, Muhammad Anwar Fathoni Pages: 351 - 372 Abstract: Islamic Hedging is one of the instruments in financial management that is used to reduce the risks associated with price and currency movements. But in a conventional perspective, hedging involves the use of controversial derivative instruments in Islamic view. The noble objective of this hedging has been misunderstood for profit only. Therefore, the concept of hedging needs further discussion because of various interpretations of the meaning of it. This study found that the concept of hedging according to Islam is different from the concept of conventional hedging. In addition, there are differences in the use of contracts in Islamic Hedging in Indonesia and Malaysia. PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.351-372 Issue No:Vol. 11, No. 2 (2018)
Authors:Zainal Abidin, Rudy Haryanto Pages: 373 - 390 Abstract: The purpose of this study was to describe the problematic of liberalization of Human Resource Recruitment in sharia banking by discussing the recruitment process until the placement of employees in banking, especially in Sampang. This research used descriptive qualitative method with phenomenological approach, data collection technique is done by observation, interview and document study. The results showed that Human Resources involved in banking can be from diverse educational background, not only from sharia banking education or a cognate education, such as economics and business, except health and literature graduated who cannot follow the admission selection. There is no protection against prospective employees from economic and business graduation and sharia banking. The recruitment process is done by the above office with a process that has already passed the standard. Structuring of Human Resources in sharia banking Sampang is based on organizational structure that has been standard with job description that has been arranged so that managers can easily place an employee in Islamic banking at Sampang Madura PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.373-390 Issue No:Vol. 11, No. 2 (2018)
Authors:Imanda Firmantyas Putri Pertiwi, Intan Nur Prasasti, Zakky Fahma Pages: 391 - 408 Abstract: This research aims to provide an overview of how much person’s internal factors such as professional commitment, anticipatory socialization and locus of control can affect their intention to perform whistleblowing action when they find fraud within the institution, also how strong is the organization’s support in moderating internal factors to the whistleblowing intentions. The method used in this research is Moderated regression analysis (MRA) followed by sub group moderated analysis. The results obtained from this study are proven that professional commitment can significantly improve the whistleblowing intentions, but anticipatory socialization and locus of control despite showing a significant influence, instead it shows negative direction. Organizational support has not been able to take part as a factor that can strengthens or weakens the relationship between the three variables mentioned earlier with the intention of someone to do whistleblowing. PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.391-408 Issue No:Vol. 11, No. 2 (2018)
Authors:Mansur Mansur Pages: 409 - 430 Abstract: This study aims to determine the consumption preference of Moslem family in Wates Ngaliyan Semarang in the perspective of Islamic economics and the factors that influence the consumption preference of Moslem family in Wates Ngaliyan Semarang. This research is field research using descriptive qualitative approach. The results of this research are that family consumption preference still over consumption or israf, but there are some Moslem families suitable to consumption preference in Islam, and There is other factor influencing consumption preference which is social environment. PubDate: 2018-03-26 DOI: 10.18326/infsl3.v11i2.409-430 Issue No:Vol. 11, No. 2 (2018)
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