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SUSTAINABILITY AND
SOCIO ECONOMIC GROWTH
BOOK OF ABSTRACT
2ND INTERNATIONAL CONFERENCE ON
ISLAMIC ECONOMICS, BUSINESS, AND
PHILANTHROPY (2ND ICIEBP)
22TH November 2018, Grand Ball Room Bank Indonesia, Surabaya
Book of Abstract 2nd ICIEBP | ii
ICIEBP 2018 Book of Abstract of the
2nd International Conference on Islamic Economics,
Business, and Philanthropy
Surabaya - Indonesia
November 22, 2018
Organized by
Faculty of Economics and Business, Universitas Airlangga, Indonesia
In Collaboration with
UPI - Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
UMM - Faculty of Economics and Business University of Muhammadiyah Malang, Indonesia
UiTM – Universiti Teknologi Mara, Malaysia
IIUM – International Islamic University Malaysia
Book of Abstract 2nd ICIEBP | iii
BRIEF CONTENTS
INVITED SPEAKERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IV
ORGANIZING COMMITTEES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . V
ACKNOWLEDGMENT OF THE RECTOR OF UNIVERSITAS AIRLANGGA . . . . . . . . . . . . . . . . . . . . . . . .VII
FOREWORD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .VIII
PROGRAMME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X
CONTENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .XI
Book of Abstract 2nd ICIEBP | iv
INVITED SPEAKERS
Dr. Mohamed Asmy Bin Mohd Thas Thaker International Islamic University Malaysia (IIUM)
Malaysia
Raditya Sukmana, SE., MA., Ph.D
Universitas Airlangga Indonesia
Dr. Rose Abdullah
University Islam Sultan Sharif Ali Brunei Darussalam
Ronald Rulindo, Ph.D Lembaga Penjamin Simpanan
Indonesia
Book of Abstract 2nd ICIEBP | v
ORGANIZING COMMITTEES
ORGANIZATION CHAIR
Siti Zulaikha, Universitas Airlangga, Indonesia
ADVISORY BOARD
Dian Agustina, Universitas Airlangga, Indonesia
Rudi Puwono, Universitas Airlangga, Indonesia
Ahmad Rizki Sridadi, Universitas Airlangga, Indonesia
Nisful Laila, Universitas Airlangga, Indonesia
Azmi Omar, International Centre for Education in Islamic Finance (INCEIF), Malaysia
Agus Rahayu, Universitas Pendidikan Indonesia, Indonesia
Siti Nurazira Mohd Daud, University Sains Islam Malaysia, Malaysia
Muhammad Abduh, Universiti Brunei Darussalam, Brunei Darussalam
Rifqi Ismal, Bank Indonesia, Indonesia
Ginanjar Dewandaru, International Centre for Education in Islamic Finance (INCEIF), Malaysia
Mahbubi Ali, International Shari'ah Research Academy For Islamic Finance (ISRA), Malaysia
STEERING COMMITTEE
Raditya Sukmana, Universitas Airlangga, Indonesia
Achsania Hendratmi, Universitas Airlangga, Indonesia
Siti Zulaikha, Universitas Airlangga, Indonesia
Sylva Alif Rusmita, Universitas Airlangga, Indonesia
Lina Nugraha Rani, Universitas Airlangga, Indonesia
Puji Sucia Sukmaningrum, Universitas Airlangga, Indonesia
Bayu Arie Fianto, Universitas Airlangga, Indonesia
Ilmiawan Auwalin, Universitas Airlangga, Indonesia
Shochrul Rohmatul Ajija, Universitas Airlangga, Indonesia
Sulistya Rusgianto, Universitas Airlangga, Indonesia
Dina Septiarini, Universitas Airlangga, Indonesia
Tika Widiastuti, Universitas Airlangga, Indonesia
Noven Suprayogi, Universitas Airlangga, Indonesia
Book of Abstract 2nd ICIEBP | vi
Imron Mawardi, Universitas Airlangga, Indonesia
Irham Zaki, Universitas Airlangga, Indonesia
Ari Prasetyo, Universitas Airlangga, Indonesia
Fatin Fadhila, Universitas Airlangga, Indonesia
Eko Fajar Cahyono, Universitas Airlangga, Indonesia
Siti Inayatul, Universitas Airlangga, Indonesia
Syifaul Qulup, Universitas Airlangga, Indonesia
R. Moh. Qudsi Fauzi, Universitas Airlangga, Indonesia
Book of Abstract 2nd ICIEBP | vii
Acknowledgment of The Rector
of Universitas Airlangga
at The 2nd International Conference on Islamic
Economics, Business, and Philanthropy
(ICIEBP) 2018
Assalamu’alaykum Warahmatullahi Wabarakatuh
Bismillahirrahmanirrahim, Innal hamda lillah. Nahmaduhu wa nasta’inuhu wa nastaghfiruh. Wa
na’udzubillahi min syuruuri a’malina wa min sayyiaati a’maalina. Allahumma shalli ‘alaa Muhammad
wa ‘ala alihi wa shahbihi ajma’ien.
Let me begin by welcoming all of you, distinguish guests and speakers, honorable members and all
participants to the “The 2nd International Conference on Islamic Economics, Business, and Philanthropy
(ICIEBP) 2018”. As a rector of Universitas Airlangga, I say thanks to committee from Faculty of
Economics and Business Universitas Airlangga who held this conference and all delegates who
contribute to this conference. May our cooperation continues and ICIEBP can be held every year, in
Surabaya, Bandung, or other cities in Indonesia or even abroad. Hopefully, this conference provide a
forum for leading scholars, academics, researchers, and practitioners to reflect current issue, challange
and opportunites, and share the latest innovative research and practice, especially in Islamic economics,
Islamic business, and philantrophy, as the theme of this conference.
We hope this seminar will bring together participants to exchange ideas on future development on
Islamic economics, business, and philantrophy and make this conference to strenghten networking,
collaboration, and joint effort among participants. Moreover, this ICIEBP 2018 provides an opportunity
for researchers to publish their papers on reputed proceedings indexed by Scopus.
Thema of this seminar and conference is “Sustainability and Socio Economic Growth”, so under this
conference, we can explore various theories, methods, and experiences related to socio economic
sustainaibily and many related themes about Islamic economics, business, and philantrophy: Islamic
finance, Islamic banking, zakah and waqf, Islamic capital market, and any themes related to Islamic
economics. We hope this conference will contribute to a meaningful paradigm shifts in Islamic
economics, business, philantrophy, socio economics research, in general, and the delegates’ career
development, in particular. Finally, we would like to thank everybody who contributed in many ways
to the success of this conference.
We wish to see you to the next ICIEBP.
Wassalamu’alaykum Warahmatullahi Wabarakatuh
Surabaya, 22 November 2018
Rector of Universitas Airlangga,
Prof. Dr. Mohammad Nasih, SE., Mt., Ak., CMA
Book of Abstract 2nd ICIEBP | viii
Forewords of The Dean of Faculty of Economics
and Business at The 2nd International
Conference on Islamic Economics, Business,
and Philanthropy (ICIEBP) 2018
Bismillahirrahmanirrahim,
Assalamu’alaykum Warahmatullahi Wabarakatuh
Praise be to Allah God Almighty who for His grace the preparation for organizing the 2nd International
Conference on Islamic Economics, Business, and Philantrophy (2nd ICIEBP) runs smoothly. On behalf
of the organizers of the 2nd ICIEBP I would like to express my sincerest gratitude for your participation
in this conference.
The theme this year is Sustainability and Socio Economic Growth. As we might already know, a vast
amount of Quranic verses and several sayings of the prophet Muhammad indicate the great importance
of sustainable development in Islam. Islamic sustainable development can be defined as well-balanced
development between economic growth, social progress, and ecological preservation. Human economic
activities, according to Islam, should not hinder the progress toward social welfare and the attainment
of social justice. Furthermore, today’s economic activities to fulfil our needs should never compromise
the abilities of future generation to also attain their needs.
The success of the 2nd ICIEBP depends completely on the talent and effort of many researchers to cope
with such significant emergence in the Islamic perspectives. My appreciation also goes to the organizing
committee who have worked hard to prepare this event. The committee have invested significant time
in analyzing and assessing multiple papers, who hold and maintain a high standard of quality for this
conference
I hope all of you have abundant opportunities to discuss this emerging matter. I am confident that we
individually and collectively will gain valuable lessons. I hope your discussions will be both productive
and enjoyable. Thank you.
Wassalamu’alaykum Warahmatullahi Wabarakatuh
Surabaya, 22 November 2018
Dean of Faculty of Economics and Business, Universitas Airlangga,
Prof. Dr. Hj. Dian Agustia, SE., MSi., Ak.
Book of Abstract 2nd ICIEBP | ix
Forewords of The Chairman of The 2nd
International Conference on Islamic Economics,
Business, and Philanthropy (ICIEBP) 2018
Bismillahirrahmanirrahim,
Assalamu’alaykum Warahmatullahi Wabarakatuh
Praise be to Allah, God Almighty, who for His grace, the implementation of the 2nd International
Conference on Islamic Economics, Business, and Philantrophy (2nd ICIEBP) runs very well. Let me
first express my appreciation and gratitude to the Rector of Universitas Airlangga, Prof. Dr. Mohammad
Nasih SE., M.T., Ak., CMA and Dean of Faculty of Economics and Business, Universitas Airlangga,
Prof. Dr. Dian Agustia, SE., M.Si. They had the vision and mission to create this opportunity for all of
us to listen to each other and to learn from each other. I'd also like to thank the invited speakers and
participants who've travelled to join with the 2nd ICIEBP.
The first conference of ICIEBP is held in Universitas Pendidikan Indonesia (UPI) Bandung, Indonesia,
and it was entitled “Rethinking Sustainability from an Islamic Perspective Transforming Economy and
Societies. In order to maintain the continuity of Islamic Economics conference in presenting insights,
sharing, and executing ideas presented by innovative researchers, experts and practitioners, Faculty of
Economics and Business Universitas Airlangga, in collaboration with UPI, UMM, IIUM, and UTM
proudly presents “The 2nd ICIEBP held in November 22th, 2018. The theme, as well as the main
objective of the conference is “Sustainability and SocioEconomic Growth”. The conference has
collected 110 papers from various countries such as Pakistan, Taiwan, Malaysia and Indonesia. The
proceeding and result of the conference inshaaAllah will be submitted for further indexed to scopus and
CPCI (upon indexer approval).
During the conference, I wish you all benefit from each other's academic knowledge and skill and I'm
convinced that the conference will make an outstanding contribution to the Islamic economics. Wishing
you a fruitful conference. I would also take this opportunity to thank you for the amazing organizing
committee members who have worked very hard to make this conference run smoothly.
Jazakumullah khairan katsiran.
Wassalamu’alaykum Warahmatullahi Wabarakatuh.
Surabaya, 22 November 2018
Conference Chairman,
Dr. Siti Zulaikha, S.E., M. Si
Book of Abstract 2nd ICIEBP | x
PROGRAMME
Timing Details of Agenda
07:00 am - 08:00 am Registration Presenter & Participant
08:00 am – 09:15 am Parallel Session I
09:15 am – 09:30 am Coffee Break
09:30 am – 10:15 am Opening Ceremony
1. Recitation of Quranic Verses
2. Recitation of dua
3. The Singing of National Anthem "Indonesia Raya"
4. Welcome Speech of Chairman of ICIEBP
5. Welcome Speech of Dean of Faculty of Economic and Business (FEB)
6. Welcome Speech of Rector of UNAIR (Vice Rector) of UNAIR and
OPENING
Entertainment: Banjari
10:15 am – 10:25 am Keynote Speech
Head of Regional East Java "Bank Indonesia”
Tittle: Islamic Economic and Industrial Revolution 4.0 10:25 am – 12:15 pm Plennary Session
1. Raditya Sukmana, SE., MA., Ph.D (Universitas Airlangga)
2. Dr. Mohamed Asmy Mohd Thas Thaker (IIUM) Malaysia
3. Dr. Rose Abdullah (University Islam Sultan Sharif Ali) Brunei Darussalam
4. Ronald Rulindo, Ph.D (Lembaga Penjamin Simpanan)
Questions and Answers Session (Q&A)
12:15 pm – 13:00 pm Lunch and Sholat Dzuhur
13:00 pm – 15:00 pm Parallel Session II
15:00 pm – 15:15 pm Coffee Break and Sholat Ashar
15:15 pm – 17:00 pm Parallel Session III
17:00 pm – 17:15 pm Closing + Best Paper Announcement
Book of Abstract 2nd ICIEBP | xi
CONTENTS
CONTENTS xi
CHAPTER 1: ISLAMIC ECONOMICS 1
MAQASID INDEX AS AN INSTRUMENT FOR EVALUATING CORPORATE SOCIAL
PERFORMANCE: EVIDENCE FROM INDONESIA MARKET
Ulfah Nurul Fauziah 1
GAME THEORY APPLICATION ON FUNDING STRATEGY PT. BANK SYARIAH
MANDIRI AND PT. BANK BNI SYARIAH FACING THE COMPETITION OF ISLAMIC
BANKING INDUSTRY IN INDONESIA
Tegar Wijanarko, Eko Fajar Cahyono 1
MONETARY POLICY AND INFLATION IN INDONESIA: THE ROLE OF DUAL
BANKING SYSTEM
Raditya Sukmana, Adnan Fauzi Wicaksana 2
THE ROLE OF GOVERNMENT IN THE ZAKAT MANAGEMENT: THE
IMPLEMENTATION OF A CENTRALIZED AND DECENTRALIZED APPROACH
(COMPARATIVE STUDY IN INDONESIA AND MALAYSIA)
Faridatun Najiyah, Nur Rizqi Febriandika 2
EFFECTIVENESS OF CONVENTIONAL AND SHARIA MONETARY POLICIES TO
CONTROLLING INFLATION IN INDONESIA PERIOD 2012-2018
Salma Nur Hasna, Kusnendi, Neni Sri Wulandari 3
EFFECT OF RELIGIOSITY ON THE SAKINAH FINANCE IMPLEMENTATION AND
ITS IMPACT ON FAMILY WELFARE
Mugy Ansyori Fauzyan, Suryana, Aas Nurasyiah 3
THE IMPACT OF ECONOMIC GROWTH AND DISTRIBUTION OF ZAKAT FUNDS ON
POVERTY (SURVEY IN THE THIRD DISTRICTS OF WEST JAVA PROVINCE PERIOD
(2011-2016)
Fitri Nurjanah, Kusnendi, Juliana 4
ISLAMIC MONETARY MANAGEMENT: A CRITICAL OVERVIEW
R. Moh Qudsi Fauzi Meri Indri Hapsari 4
EXTERNALITIES IN WATER SANTRI SIDOGIRI NATURAL RESOURCES
PERSPECTIVE ISLAMIC ECONOMY 1Nikmatul Fuadah, 2R. Mohammad Qudsi Fauzi 5
HOW ZAKAT CAN AFFECT INFLATION IN INDONESIA THROUGH MODIFIED
KEYNESIAN CONSUMPTION
Anim Kafabih and Angga Erlando 5
THE INFLUENCE OF POVERTY REDUCTION FUNDS BY THE GOVERNMENT,
ZAKAT FUNDS, INFAQ FUNDS AND MACROECONOMIC VARIABLES ON THE
LEVEL OF POOR POPULATION IN INDONESIA
Eko Fajar Cahyono, Siti Maghfirotul Ulya 6
Book of Abstract 2nd ICIEBP | xii
INFLUENCE OF MICRO ECONOMIC AND MACRO ECONOMIC ON YIELD TO
MATURITY OF IJARAH SUKUK CORPORATION YEAR 2014-2017
Hana Khaiririah Ulfah, Kusnendi, Suci Aprilliani 7
CHAPTER 2: ISLAMIC FINANCE AND BANKING 8
BANK RISKS, SHOCK EVENT AND PROFITABILITY IN ISLAMIC BANKS:
ADOPTION OF PANEL DATA APPROACH
Zuriyati Ahmad, Noorazlina Ahmad, Nurul Syuhada Baharuddin 8
COMPARATIVE STUDY OF RETURN, RISK, AND RATING BETWEEN IJARAH AND
SUKUK MUDHARABAH OF PUBLIC COMPANIES IN STOCK EXCHANGE WITHIN
2017
Sagung Anegsa Sakti, Dedi Wibowo 8
THE IMPLEMENTATION OF ISLAMIC FINANCIAL LITERACY THROUGH
KENCLENG PROGRAM IN SCHOOL
Iis Aisyah, Dadang Saepuloh 9
FACTORS INFLUENCING CORPORATE ZAKAT EXPENDITURE (CASE STUDY OF
ISLAMIC BANKS IN INDONESIA PERIOD 2015-2017)
Rizky Utari, Hilda Monoarfa, Sri Yayu Ninglasari 9
RISK MANAGEMENT OF NON BANK HOME OWNERSHIP FINANCING
Alfinia Firrizqi, Fatin Fadhilah Hasib, Luluk Afiqh 10
EFFICIENCY DETERMINANTS OF ISLAMIC INSURANCE IN INDONESIA 1Rachma Indrarini, 2Clarashinta Canggih, 3Sylva Alif Rusmita 10
PREVENTION OF FRAUD IN SHARIA BANKING IN INDONESIA THROUGH
IMPLEMENTATION OF SHARIA CORPORATE GOVERNANCE
Mella Apriliani Astuti 11
THE EFFECT OF LIQUIDITY, PROFITABILITY AND COMPANY SIZE OF THE
VALUE OF THE COMPANY WITH LEVERAGE MEDIATION
Idah Zuhro 11
CUSTOMER PREFERENCES IN SELECTING THE PAWN TRANSACTION IN
PEGADAIAN SYARIAH PADASUKA
Rindani Dwihapsari, Suryana, Juliana 12
ANALYSIS OF CORPORATE SOSIAL RESPONSIBILITY, CORPORATE
PERFORMACE, AND FIRM VALUE: JAKARTA ISLAMIC INDEX LISTED COMPANY 1M Bastomi Fahri Zusak, 2Sunan Fanani, 3Dwi Swasana Ramadhan 12
FACTORS THAT INFLUENCE SURPLUS UNDERWRITING OF TABARRU FUNDS IN
GENERAL ISLAMIC INSURANCE COMPANIES
Mohammad Firdaus Ramdhani P, Puji Sucia Sukmaningrum 13
FACTORS AFFECTING STOCK BETA COMPANIES LISTED IN JAKARTA ISLAMIC
INDEX 2012-2016 PERIOD
Jamilatul Munawarah, Puji Sucia Sukmaningrum, Muhammad Madya 13
GREEK CRISIS, CO-INTEGRATION, AND CONTAGION EFFECT OF SHARIA STOCK
MARKETS IN INDONESIA MALAYSIA AND SINGAPORE: IS THERE A PROBLEM
Book of Abstract 2nd ICIEBP | xiii
FOR INVESTORS?
Jaja Suteja, Elvira Zeyn 14
ANALYSIS OF BANKRUPTCY POTENTIAL IN ISLAMIC COMMERCIAL BANKS
USING THE GROVER G-SCORE METHOD FOR THE 2012-2017 PERIOD
Dian Filianti, Dina Fitrisia Septiarini 14
HIDING BEHIND SHARIAH VEIL: LESSONS IN DANA GAS SUKUK SAGA
Najeeb Zada 15
THE ROLE OF DIGITAL FINANCE TO STRENGTHEN FINANCIAL INCLUSION AND
THE GROWTH OF SME IN INDONESIA
Atina Shofawati 15
COMPARING PREDICTION OF FINANCIAL PERFORMANCE OF SHARIA AND
CONVENTIONAL BANKING AND ITS INFLUENCE USING ARTIFICIAL NEURAL
NETWORK (ANN) 1Ulumuddin Nurul Fakhri, 2Saiful Anwar, 3Rifki Ismal, 4Ascarya 16
THE INFLUENCE OF BANK OWNERSHIP ON BANK PERFORMANCE AND RISKS
(THE CASE OF SHARIA COMMERCIAL BANKS IN INDONESIA)
Sellen Ravindy, Nisful Laila, Lina Nugraha Rani, Puji Sucia Sukmaningrum 16
ANALYSIS OF THE HEALTH OF ISLAMIC BANKS WITH APPROACH TO
RENTABILITY FACTORS (EARNING)
Eris Tri Kurniawati, Syamsul Hadi, Gina Harventy, Yunan Syaifullah 17
INTERTEMPORAL EFFICIENCY ANALYSIS OF INDONESIAN SHARIA
COMMERCIAL BANK AFTER SPIN OFF PERIOD 2013-2017 DATA ENVELOPMENT
ANALYSIS (WINDOW ANALYSIS)
Ulfi Alayya, Lina Nugraha Rani 17
OPTIMIZATION OF ISSI STOCK PORTFOLIO USING SINGLE INDEX MODELS IN
2013-2017
Firsty Dzanurrahmana Zein, 1Khurul Aimmatul Umah, 2Sri Herianingrum, 3A. Syifaul Qulub, 4Sylva Alif Rusmita 18
COMPARISON MODEL BUSINESS, STABILIZATION, AND FINANCE PERFORMANCE
OF SHARIA COMMERCIAL BANK AND CONVENTIONAL COMMERCIAL BANK IN
INDONESIA IN 2012-2016
Yanani Mutiara Dewi, Dina Fitrisia Septiarini 18
SHARIA COMPLIANCE ON MORTGAGE PRODUCT WITH IJARA MUNTAHIYA
BITTAMLIK CONTRACT IN SHARIA PERMATA BANK
Amalia Damayanti, Arim Nasim, Firmansyah 19
APPROPRIATE YIELD CURVE MODELING FOR SUKUK 1Sulistya Rusgianto, 2Nursilah Ahmad, 3Siti Nurazira Mohd Daud, 4Siti Zulaikha 19
EFFICIENCY OF TABARRU FUND MANAGEMENT AT SHARIA INSURANCE
COMPANIES IN INDONESIA
Marina Sarah, A. Jajang W. Mahri, Aneu Cakhyaneu 20
DETERMINAN OF NON PERFORMING FINANCING IN INDONESIA ISLAMIC BANK
Melianda Visca Wulandari, Suryana, Suci Aprilliani Utami 20
Book of Abstract 2nd ICIEBP | xiv
RISK MANAGEMENT OF PENSION FUNDS OF SHARIA FINANCIAL INSTITUTIONS
(EVIDENCE FROM A PENSION FUNDS OF MUAMALAT SHARIA FINANCIAL
INSTITUTIONS)
Septianingrum Dewi Purnamasari, Lina Nugraha Rani 21
CUSTOMERS LITERACY ON ISLAMIC HOUSE FINANCING PRODUCTS
Indah Bidari, A. Jajang W. Mahri, Rida Rosida 21
THE IMPACT OF MACROECONOMIC ON ISLAMIC STOCK PRICES: EVIDENCE
FROM INDONESIA
Imron Mawardi, Tika Widiastuti, Puji Sucia Sukmaningrum 22
RISK ANALYSIS OF DEFAULTED SUKUK 1Sulistya Rusgianto, 2Nursilah Ahmad, 3Zurina Kefeli, 4Silva Alif Rusmita 22
SYARIA BANKING CUSTOMER ADAPTATION
Tita Terista 23
CHAPTER 3: ISLAMIC BUSINESS AND ENTREPRENEURSHIP 24
SERVICE QUALITY IN ISLAMIC PERSPECTIVE WITH THE RELIGIOUS
KNOWLEDGE LEVEL AS MODERATOR VARIABLE
Ririn Tri Ratnasari, Putri Erika Rahmawati 24
THE IMPLEMENTATION OF ISLAMIC VALUES IN IMPROVING THE QUALITY OF
EMPLOYEE PERFORMANCE IN WORKPLACE
Marsudi, Rizki Febriani, Chalimatuz Sadiyah, Yeyen Pratika 24
THE ROLE OF GOLD DINAR AND SILVER DIRHAM USER ENTREPRENEURSHIP
COMMUNITY IN DINAR-DIRHAM REPLACEMENT EQUIPMENT AS A MEDIUM OF
EXCHANGE
Srie Nuning Mulatsih, Aisyah Ratnasari, Dadang Saepuloh 25
ENTREPRENEURSHIP EDUCATION GROWS SANTRIS ENTREPRENEURIAL SPIRIT
(EVIDENCE INDONESIAS ISLAMIC BOARDING SCHOOL) 1M. Haris Hidayatulloh, 2Tika Widiastuti, 3Sri Herianingrum, 4Taqiyah Dinda Insani 25
ISLAMIC BRANDING AND SOCIAL MEDIA: IMPLICATIONS ON STAY DECISIONS IN
SHARIA HOTEL
Debi D. Andini, Moch. Adib Sultan, Neni Sri Wulandari, Mira Nurfitriya 26
THE IMPLEMENTATION OF GOOD GOVERNANCE BUSINESS SHARIAH IN
INDONESIA SHARIAH BANKING
Ahmad Juanda, Fredy Dwi Herlyanto, Tri Wahyu Oktavendi 26
THE INFLUENCE OF PRODUCT KNOWLEDGE AND ATTITUDE TOWARDS
INTENTION IN MUDHARABAH FUNDING PRODUCTS IN SHARIA BANKS IN
MATARAM
Achsania Hendratmi, Baiq Vidia Khairunnisa, Luthfi Nur Rosyidi 27
THE INFLUENCE OF ISLAMIC BRAND PERSONALITY TOWARDS BANK
MUAMALAT SURABAYA BRAND LOYALTY
Achsania Hendratmi, Bayu Laksana D.M 27
Book of Abstract 2nd ICIEBP | xv
MICRO ENTREPRISE EMPOWERMENT MODEL THROUGH ISLAMIC FINANCIAL
SERVICE COOPERATION (STUDY IN INDONESIA-MALAYSIA) 1Sri Herianingrum, 2Muhammad Syukri Salleh, 3Ririn Tri Ratnasari 28
THE PRODUCTION BEHAVIOUR OF MUSLIM RESTAURANT TOWARDS THE RISE
OF THE BASIC COMMODITIES PRICES 1Rahmania Nur, 2Irham Zaki 28
THE INFLUENCE OF QUALITY OF ISLAMIC SERVICE AND INSTITUTION IMAGE
TO DONOR TRUST AT NATIONAL AMIL ZAKAT INSTITUTE (LAZNAS) 1Sri Herianingrum, 2Reza Reftrian, 3Achsania Hendratmi 29
ISLAMIC FAIRNESS CONCEPT IMPLEMENTATION IN BUSINESS PERSPECTIVE OF
AZ-ZAITUN I SURABAYA SHARIA MARKET TRADE
Dandi Setiabakti, R. Mohammad Qudsi Fauzi 29
CRS IMPLEMENTATION FROM WESTERN TO THE ISLAMIC PERSPECTIVE:
MAQASID AL-SHARIAH AND MASLAHAH
Siti Zubaidah, Mudrifah 30
RELATIONSHIP BETWEEN ENTREPRENEURIAL CHARACTERISTICS FROM
ISLAMIC PERSPECTIVE AND THE PERFORMANCE OF SMALL AND MEDIUM-
SIZED BUSINESSES (A STUDY OF SMES IN INDONESIA)
Dini Lisnawati, Eeng Ahman 30
INTEREST IN ISLAMICPRENEUR: FAMILY ENVIRONMENT FACTORS AND
RELIGIOSITY ANALYSIS THE RESEARCH OF ISLAMIC ECONOMICS STUDENTS AT
UNIVERSITY IN BANDUNG
Elmi Akmalianis, A. Jajang W. Mahri, Juliana, Dudi Septiadi 31
MARKETING MIX 7PS IN ISLAMIC PERSPECTIVE
Rizky Febriansyah 32
BUSINESS MODEL AND ISLAMIC BOARDING SCHOOL BUSINESS DEVELOPMENT
STRATEGY (CASE STUDY ISLAMIC BOARDING SCHOOL SIDO GIRI PASURUAN,
EAST JAVA)
Irham Zaki, Imron Mawardi, Tika Widiastuti, Achsania Hendratmi, Risanda A. Budiantoro 33
CHAPTER 4: ISLAMIC PHILANTROPHY 34
HOW NONPROFIT ORGANISATION DELIVERS ONLINE ACCOUNTABILITY
THROUGH SOCIAL MEDIA?
Seyla Rizky Amelia, Miranti Kartika Dewi 34
A PROFILE ANALYSIS OF POTENTIAL INVESTORS IN iREIT WAQF INVESTMENT
PRODUCTS Nor Azizan Che Embi, RoslilyRamlee, Salina Kassim 34
CREDIBLE METHODS FOR EVALUATING THE IMPACTS OF LAZ PROGRAMS
Muhamad Said Fathurrohman 35
REGULATIONS AND MANAGEMENT OF WAQF INSTITUTIONS IN INDONESIA AND
SINGAPORE: A COMPARATIVE STUDY 1Risa Sari Pertiwi, 2Muhammad Nafik Hadi Ryandono, 3Khofidlotur Rofiah, 4Anita 35
THE EFFICIENCY OF ZAKAT INSTITUTIONS IN INDONESIA IN 2012-2016
Suhail, Faqih Adam, A. Jajang W. Mahri 36
Book of Abstract 2nd ICIEBP | xvi
ZAKAT COMPLIANCE BEHAVIOUR: GOOD CORPORATE GOVERNANCE WITH
MUZAKKIS TRUST APPROACH (SURVEY ON MUZAKKI OF THE NATIONAL
BOARD OF ZAKAT (BAZNAS) IN GARUT)
Nafillan Arofata Tsalas, A. Jajang W.Mahri, Rida Rosida 36
IMPLEMENTATION OF ZAKAT VILLAGE INDEX (SURVEY IN BINANGUN VILLAGE,
PATARUMAN SUB DISTRICT, BANJAR CITY) 37
Fitriyani Nurul Hakim, A. Jajang W. Mahri, Aas Nurasyiah 37
THE EFFICIENCY MEASUREMENT OF NATIONAL BOARD OF ZAKAT IN WEST
JAVA
Aas Nurasyiah, Rida Rosida, Firmansyah 37
CHAPTER 5: ISLAMIC MICROFINANCE 38
DETERMINANTS FACTORS OF NON-PERFORMING FINANCING IN ISLAMIC
MICROFINANCE INSTITUTION
Hayu Maulida, Bayu Arie Fianto 38
SHARIA COMPLIANCE: CASE STUDY ON MURABAHAH PRODUCTS BMT ITQAN
Juliana Juliana, Feby Syahril Qudsi, Disman Disman 38
ECONOMIC EMPOWERMENT FOR POOR WOMEN USING GRAMEEN BANK
MODEL IN INDONESIA
Siti Inayatul Faizah, Uus Ahmad Husaeni 39
DOES SOCIO DEMOGRAPHIC VARIABLES MATTER IN EXPLAINING ISSUES AND
CHALLENGES IN ISLAMIC MICROFINANCE? EVIDENCE FROM MALAYSIA
Marhanum Che Mohd Salleh, Salina Kassim, Siti Nadhirah Kassim 39
CHAPTER 6: MANAGEMENT AND LEADERSHIP 40
CORPORATE SCIENCE AND FIRM VALUE: MODERATING ROLE OF BOARD
QUALITY
Gilang Puspita, Isnalita 40
DETERMINANT OF ETHICAL ORIENTATION IN COLLEGE STUDENTS (CASE
STUDY ON STAR STUDENTS OF FINANCIAL AND DEVELOPMENT SUPERVISORY
BOARD OF AIRLANGGA UNIVERSITY)
Feriska Oktaviana Putri, Erina Sudaryati 40
IMPULSE BUYING: THE EFFECT OF PRICE FAIRNESS, IN STORE PROMOTION,
MERCHANDISE AND TIME AVAILABILITY
H Haryanto, W Wiyono, Dwi Hastjarja KB 41
THE EFFECT OF TAX PLANNING, ASSET OF DEFERRED TAX, DFERRED TAX
EXPENSE ON PROFIT MANAGEMENT (CASE STUDY OF MANUFACTURING
COMPANIES LISTED ON THE STOCK EXCHANGE 2013-2017 PERIOD)
Srie Nuning Mulatsih, Nela Dharmayanti, Aisyah Ratnasari 41
AN ANALYSIS ON MANAGEMENT INFORMATION SYSTEMS OF LIBRARY AT SMK
MUHAMMADIYAH 2 MALANG
Sri Nastiti Andharini,Novi Puji Lestari,Novita Ratna Satiti,Kenny Roz 42
Book of Abstract 2nd ICIEBP | xvii
THE IMPACT OF ISLAMIC VALUES IMPLEMENTATION ON ORGANIZATIONAL
COMMITMENTS TO HUMAN RESOURCES MANAGEMENT PRACTICES AT
UNIVERSITY OF MUHAMMADIYAH MALANG
Nazaruddin Malik, Sri Budi Cantika Yuli, Sudarti 42
HOW ORGANIZATION ETHICAL VALUE AND ETHICAL LEADERSHIP INFLUENCE
ON RELIGIOUS COMMITMENT? A STUDY ON SHARIA BANKS IN INDONESIA
Titiek Ambarwati, Fika Fitriasari, R. Iqbal Robbie, Ardik Praharjo 43
CUSTOMER-BASED BRAND EQUITY IN DIGITAL AGE: A CONSEPTUAL APPROACH
Fahmi Dharmawan, Heni Hendrayati 43
DETERMINANTS OF CUSTOMER LOYALTY FOR MOSLEM FASHION: A STUDY
THE LARGEST MOSLEM POPULATION (INDONESIA)
Afifah Nur Millatina, Naily Rohmah, Irham Zaki 44
THE INFLUENCE OF HUMAN CAPITAL ON COMPANY PERFORMANCE WITH
CONSUMER CAPITAL AS AN INTERVENING VARIABLE
Amanda Rizca Aprillianti, Erina Sudaryati 44
THE INFLUENCE OF HUMAN RESOURCE QUALITY, ORGANIZATIONAL
COMMITMENT, AND SUPPORTING DEVICE TO THE IMPLEMENTATION OF
ACCRUAL BASIS WITH REGULATION OF HOME AFFAIRS MINISTER
(PERMENDAGRI) UNDERSTANDING NO. 64 YEAR 2013 AS AN INTERVENING
VARIABLE
Selly Ika Setyawuri, Erina Sudaryati 45
THE INFLUENCE OF VIRAL MARKETING AND PRICE DISCOUNTS THROUGH
SOCIAL MEDIA INSTAGRAM TO PURCHASE DECISION ON MARKETPLACE
SHOPEE
Teguh Maulana, Gugyh Susandy 46
THE MEDIATING EFFECTS OF JOB SATISFACTION ON EMPLOYEE LOYALTY: A
CASE STUDY OF A DEVELOPER COMPANY IN MALAYSIA
Zainuddin Zakaria, Mutiiah Mohamad, Md Noh Abd Majid, Nurul Ulfa Abdul Aziz, Kartini Mat
Rashid 47
RECOMMENDATION AND REPURCHASE INTENTION FOR HEALTH SERVICE
BASED ON MEDICAL TOURISM
Ririn Tri Ratnasari, Sedianingsih, Ari Prasetyo, Hendarjatno 48
HALAL FOOD CERTIFICATION TO IMPROVE THE COMPETITIVENESS OF SMALL
AND MEDIUM BUSINESSES IN EAST INDONESIA
Ririn Tri Ratnasari, Sri Gunawan, Sylva Alif Rusmita, Ari Prasetyo 49
CHAPTER 7: ACCOUNTING 50
CRITICAL STUDY OF THE PRINCIPLES OF SHARIA THAT APPLIED IN ISLAMIC
ACCOUNTING IN MUDARABA AND MUSYARAKAH
Arim Nasim, Elis Mediawati 50
AGGRESSIVE FINANCIAL REPORTING, INDEPENDENT BOARD OF
COMMISSIONER AND TAX AGGRESSIVENESS
Anis Chariri, Indira Januarti, Etna Nur Afri Yuyetta, Agustinus Santosa Adi Wibowo 50
Book of Abstract 2nd ICIEBP | xviii
THE EFFECT OF KNOWLEDGE, EXPERIENCE, AND PROFESSIONAL
ACCURATENESS IN DOING PROBITY AUDIT ON GOVERNMENT GOODS/SERVICE
PROCUREMENT FRAUD
Donny Hermawan, Hendarjatno 51
THE INFLUENCE OF USING ACCOUNTING INFORMATION AND INFORMATION
TECHNOLOGY TO THE SUCCES OF THE WORKING PERFORMANCE (A SURVEY
FOR SUPERIOR PRODUCT OF THE SMALL MEDIUM ENTREPRISES IN BANYUMAS
REGION)
Fathul Aminudin Aziz, Hastin Tri Utami 52
ACCOUNTING INFORMATION SYSTEM FOR CATTLE FEED CONTROL TO
ACHIEVE FEED CONSUMPTION EFFICIENCY
A.A. Gde Satia Utama, Rendra Prasetya 53
CHAPTER 8: ECONOMICS SCIENCE 54
THE IMPACT OF ROAD CONSTRUCTION PROGRAM: EVIDENCE FROM EAST
JAVA, INDONESIA 1Irim Tiara Puri, 2Rumayya 54
THE RELATIONSHIP BETWEEN CRIMES AND ECONOMIC GROWTH
Hendra Kusuma, Happy Febrina Hariyani, Wahyu Hidayat 54
GREEN BUSSINES STRATEGY ON SEAWEED ENTERPRISES IN TARAKAN CITY
COASTAL 1S R Pratiwi, 2R Wahyuni, 3Mulyadi, 4M A P Siregar 55
APPLICATION OF AUTOREGRESSIVE INTEGRATED MOVING AVERAGE FOR
IMPROVED URBAN WATER SERVICES IN SPECIAL REGION OF YOGYAKARTA 1Agustyarum Pradiska Budi, 2Mugi Raharjo, 3Evi Gravitiani 55
PREDICTION THE NUMBER OF FOREIGN TOURIST ARRIVAL IN INDONESIA
SHARIA TOURISM ENTRANCE USING SIMULTANEOUSLY FOURIER SERIES
ESTIMATOR 56
1M. Fariz Fadillah Mardianto, 2Lailatus Syarifah, 3Putri Andriani, and 4Eko Fajar Cahyono 56
REMITTANCES AND ECONOMIC GROWTH: CASE FOR ASIAN COUNTRIES
Rossanto Dwi handoyo, Ryan Bangkit Simanjuntak 56
REFLECTION OF INDONESIAS ECONOMIC DEVELOPMENT THROUGH THE IBNU
KHALDUN SOCIAL ECONOMIC DYNAMICS APPROACH
Muhammad Sri Wahyudi Suliswanto, Setyo Wahyu Sulistyono,Zainal Arifin, Mohammad Faisal
Abdullah 57
ECONOMETRY MODEL OF THE IMPACT OF MACROPRUDENTIAL POLICY ON
POVERTY IN INDONESIA
Aris Soelistyo, Agung Prasetyo NW 57
ANALYSIS OF EFFECT OF FOREIGN DIRECT INVESTMENT, DEBT TO THE IMF
AND STOCK VALUES AGAINST ECONOMIC GROWTH IN DEVELOPING
COUNTRIES MEMBERS OF THE ORGANIZATION OF ISLAMIC COOPERATION
(OIC)
Dwi Susilowati, Muhammad Khoirul Fuddin, Risky Angga Pramuja, Firdha Aksari Anindyntha,
Novi Primitasari 58
Book of Abstract 2nd ICIEBP | xix
PRIVATIZATION IN DEVELOPING COUNTRIES: A PROMISING DEVELOPMENT
STRATEGY?
Ilmiawan Auwalin 58
FINANCIAL DEEPENING AND ECONOMIC GROWTH IN INDONESIA
Wasiaturrahma, Ramses Muhammad Rizal, Shochrul Rohmatul Ajija 59
LABOUR SUPPLY AND SKILLS SHORTAGES IN AUSTRALIA
Ilmiawan Auwalina, Alick Nyasulub, Siwaporn Kittayaapinantc 59
THE DETERMINANTS THAT INFLUENCE HOUSEHOLD DEBT CASE IN MALAYSIA
Nur Azwani Mohamad Azmin, Wan Nabihah Wan Zaidi and Zuraida Mohamad 60
ANALYSIS STRATEGY AND TARGETING TO SALES KURNIA WATCH
Muhammad Ridwan, Heny Hendrayati 60
DOES MICROCREDIT BRING THE WOMEN INTO ECONOMIC WORLD: EVIDENCE
FROM BANGLADESH
Mohammad Abdul Matin Chowdhury, Marhanum Che Mohd Salleh, Sylva Alif Rusmita, Puji Sucia
Sukmaningrum 61
THE ANALYSIS OF MANUFACTURING SECTOR IN INDONESIA
Muryani, Leny Chiputyani 61
ANTESEDENTS AND CONSEQUENCES OF HEALTH PERFORMANCE BASED ON
PATIENT INTIMACY
Ririn Tri Ratnasari, Sri Gunawan, Muslich Anshori, Sri Herianingrum 62
IMPROVING ACCESS TO DRINKING WATER IN DEVELOPING COUNTRIES: CASE
STUDY OF 10 COUNTRIES IN SOUTH-EAST ASIA
Agustyarum Pradiska Budi, Mugi Raharjo, Evi Gravitiani 62
MEASURING EFFICIENCY IN SECONDARY SCHOOL: COMPARATIVE STUDY
BETWEEN NEW AUTONOMOUS REGION AND MOTHER REGION IN BANTEN
PROVINCE
Fitri Amalia 63
ANALYSIS OF ECONOMIC GROWTH, BI INTEREST RATES, AND INFLATION AND
THE IMPACT ON FOREIGN DIRECT INVESTMENT (FDI) IN INDONESIA IN 2010 –
2017
Dadang Saepuloh, Srie Nuning Mulatsih, Sutarjo, Masruri 64
DOES DIVERSIFICATION AND EXECUTIVE COMPENSATION AFFECT CORPORATE
VALUES IN FAMILY FIRM: CASE OF INDONESIA
Habiburrochman, Wahyu Inayatul Fadilah, Siti Zulaikha, Noven Suprayogi 64
ACADEMIC PERFORMANCE OF UNIVERSITY STUDENTS: A CASE IN A HIGHER
LEARNING INSTITUTION
Wan Maziah Wan Ab Razak, Sharifah Alia Syed Baharom, Zalinawati Abdullah, Haslenna
Hamdan, Nurul Ulfa Abd Aziz, Ahmad Ismail Mohd Anuar 65
CHAPTER 9: OTHER RELEVANT TOPICS 66
LEGAL PROTECTION OF LENDERS IN THE IMPLEMENTATION OF FINANCIAL
TECHNOLOGY BASED ON PEER TO PEER LENDING 1Anita, 2Siti Zulaikha, 3Khofidlotur Rofiah, 4Risa Sari Pertiwi 66
Book of Abstract 2nd ICIEBP | xx
FACTORS TOWARDS VOLUNTARY TURNOVER AMONG EMPLOYEES IN
MALAYSIA BANKING INSTITUTION
Nurul Ulfa Abdul Aziz, Zalinawati Abdullah, Wan Maziah Wan Ab Razak, Zainuddin Zakaria,
Haszri Faridzuan Bin Zafril, Marha Abdol Ghapar 67
WEB MARKETING METHOD FOR MICRO SMALL MEDIUM ENTERPRISES IN
TARAKAN CITY 1D Harto, 2S R Pratiwi, 3M N Utomo, 4M Rahmawati 67
Book of Abstract 2nd ICIEBP | 1
CHAPTER 1: ISLAMIC ECONOMICS
MAQASID INDEX AS AN INSTRUMENT FOR EVALUATING CORPORATE SOCIAL
PERFORMANCE: EVIDENCE FROM INDONESIA MARKET
Ulfah Nurul Fauziah
National Yunlin University of Science and Technology
Abstract
This study aims to develop a new approach to evaluate social performance by adding several variables,
that an aspect of the achievement of sharia objectives (Maqasid Shariah) and to know how well company
social performance using the developed approach. Social performance in a concept of Islam has a
difference when compared with social performance in general because it adding important Islamic
principal, where the company not only think about maximizing their profitability but also assumes their
role as servants and khalifah of Allah. Based on this difference of meaning, it is important to have a new
assessment or evaluation of the performance of Islamic institutions because the Islamic Institutions must
have an evaluation in general to realize the aspirations of Islamic moral economy. The finding of this
study is the new index to evaluate the company social performance based on Maqasid Shariah value and
based on the measurement using Maqasid Shariah index, company social performance in this study
below average value. In this research PT. Timah occupies the best social performance of all companies
studied followed by PT. Jasa Marga in the lowest.
Keywords: Maqashid al-Syari’ah, Islamic Moral Economy, Social Performance
GAME THEORY APPLICATION ON FUNDING STRATEGY PT. BANK SYARIAH
MANDIRI AND PT. BANK BNI SYARIAH FACING THE COMPETITION OF ISLAMIC
BANKING INDUSTRY IN INDONESIA
Tegar Wijanarko, Eko Fajar Cahyono
Islamic Economic Department, Faculty Economics and Bussiness, Airlangga University
Abstract
This study aims to show the application of game theory on the funding strategy of PT. Bank Syariah
Mandiri and PT. Bank BNI Syariah. The approach used is descriptive quantitative by using payoff
matrix analysis technique in game theory between PT. Bank Syariah Mandiri and PT. Bank BNI Syariah
as research subject and funding strategy as object of research Results show Nash Ekuilibrium and
Prisoners Dilemma were not found in this game. Dominant strategy that get the highest payoff from
each bank is a strategy to increase the promotion and marketing of hajj cheap fund for PT. Bank Syariah
Mandiri and mass-funding strategy in partnership with BNI for PT. Bank BNI Syariah.
Keywords: Game Theory, Strategy, Funding, Islamic Banks
Book of Abstract 2nd ICIEBP | 2
MONETARY POLICY AND INFLATION IN INDONESIA: THE ROLE OF DUAL BANKING
SYSTEM
Raditya Sukmana, Adnan Fauzi Wicaksana
Airlangga University
Abstract
This study aims to examine the effect of monetary policy to the inflation rate in Indonesia from January
2011 to December 2015 via conventional and sharia systems. Vector Error Correction Model (VECM)
is adopted for that purpose. The result shows that in the long run, conventional monetary policy
transmission has an effect on inflation rate in Indonesia. Interbank money market variable has negative
and significant influence on the inflation rate. While the loan to deposit ratio variable does not. On the
Islamic side, the results show that in the long run, Islamic monetary policy transmission has a negative
effect on inflation in Indonesia and Islamic money market has significant positive effect.
Keywords: Transmission of sharia and conventional monetary policy, inflation, VECM, vector error
correction model
THE ROLE OF GOVERNMENT IN THE ZAKAT MANAGEMENT: THE
IMPLEMENTATION OF A CENTRALIZED AND DECENTRALIZED APPROACH
(COMPARATIVE STUDY IN INDONESIA AND MALAYSIA)
Faridatun Najiyah, Nur Rizqi Febriandika
Department of Islamic Economic Science, Postgraduate School Airlangga University
Abstract
Zakat is the principle basis for upholding the social structure of Islam. Zakat is not ordinary charity, it
is obligatory almsgiving. With the implementation of zakat institutions properly and correctly, it is
expected that the difficulties and suffering of the poor can be reduced. The role of the government as a
regulator in managing zakat in a country is very important for macroeconomic policy. Both centralized
and decentralized approaches have actually been applied by Islam in the past. Nevertheless, each country
has different policies in its implementation, including Indonesia and Malaysia.This study aims to
compare how the systems used in the management of zakat in Indonesia and Malaysia. This research
uses descriptivecomparative method with a qualitative approach. This study uses library research
methods; its resources are taken from secondary sources in the form of books, journals and paper related
to Zakat Management.The results of study indicatethe difference between Indonesia and Malaysia is
related to the obligation to pay zakat for people who have entered the category of zakat. Malaysia has
regulations about criminal sanctions or fines. Unlike in Indonesia, there are not criminal sanctions or
fines. Existing laws only regulate sanctions for people who misuse money from the collection of zakat.in
Indonesia, Each region follows a centralized rule, is not allowed to make its own rules. Following the
political structure in Malaysia, zakat is managed by each country. Each country has full rights and
obligations in managing zakat.
Keywords: Zakat, Management, Centralized, Decentralized, Indonesia, Malaysia
Book of Abstract 2nd ICIEBP | 3
EFFECTIVENESS OF CONVENTIONAL AND SHARIA MONETARY POLICIES TO
CONTROLLING INFLATION IN INDONESIA PERIOD 2012-2018
Salma Nur Hasna, Kusnendi, Neni Sri Wulandari
Universitas Pendidikan Indonesia
Abstract
This study aims to know the extent influence and effectiveness of conventional monetary policy that
reflected by the interest rates of Bank Indonesia Certificates (SBI), total conventional bank loans
(LOAN) and the average yield on Government Securities (SUN) and sharia monetary policy that
reflected by the level of return on Bank Indonesia Sharia Certificates (SBIS), total bank financing sharia
(FINC) and the average yield of State Sharia Securities (SBSN) to controlling inflation Indonesia in
2012-2018. The analysis method used in this study is Vector Error Correction Model (VECM). The
VECM results show that in the short term only SBSN has a significant effect on inflation, but its
influence is positive (increasing inflation). In addition in the long term, SBI has a significant negative
effect while FINC, SUN and SBSN have a significant positive effect. The effectiveness which is
measured by Impulse Response Function (IRF) and Forecast Error Variance Decomposition (FEVD)
shows that conventional monetary policy is faster in stabilizing inflation but the size is small, while
sharia monetary policy is slower in stabilizing inflation but the size is bigger.
Keywords: Inflation, Dual Monetary Policy, Interest Rate Channel, Loans Channel, Asset Price
Channel
EFFECT OF RELIGIOSITY ON THE SAKINAH FINANCE IMPLEMENTATION AND ITS
IMPACT ON FAMILY WELFARE
Mugy Ansyori Fauzyan, Suryana, Aas Nurasyiah
Universitas Pendidikan Indonesia
Abstract
Financial problems are common to families. Mismanagement of the economy is often a source of
contention between husband and wife and becomes a problem of household rifts. Good Sakinah finance
is expected to neutralize the economic pressures faced by the family so as not to interfere with the
interaction process that results in family welfare. This study aims to analyze the effect of religiosity on
the implementation of sakinah finance and its impact on family welfare. This study uses a correlational
design with 60 Muslim women studying the Daarut Tauhid Mosque in Bandung. Sampling is done by
using a non-probability random sampling method for young and senior Muslim age groups, at Muslim
women studying the Daarut Tauhid Mosque in Bandung. Based on simple linear regression, it is known
that religiosity affects the implementation of sakinah finance. And other results indicate the
implementation of sakinah finance affects family welfare.
Keywords: Sakinah Finance, Religiosity, Family Welfare, Muslima Recitation
Book of Abstract 2nd ICIEBP | 4
THE IMPACT OF ECONOMIC GROWTH AND DISTRIBUTION OF ZAKAT FUNDS ON
POVERTY (SURVEY IN THE THIRD DISTRICTS OF WEST JAVA PROVINCE PERIOD
(2011-2016)
Fitri Nurjanah, Kusnendi, Juliana
Universitas Pendidikan Indonesia
Abstract
Indonesia is a developing country that measures its development success in terms of its economic
growth. West Java Province is one of the provinces that is the center of development because it has a
large population and has good economic growth and increases every year seen from the GDP at constant
prices. In addition, there are many strategic economic sectors located in West Java Province, so that the
potential and collection of zakat funds is the highest compared to other provinces. This is expected to
alleviate poverty problems in West Java Province, especially in Region III of West Java Province. This
study uses secondary data from 2011-2016. The analysis technique used is panel data regression. Based
on the results of the analysis found that economic growth and the distribution of zakat funds
simultaneously have a significant effect on the number of poor people. Partial economic growth has a
negative and significant effect on the number of poor people, while the partial distribution of zakat does
not have a negative and insignificant effect on the number of poor people. Variables that have the most
dominant influence on the number of poor people are economic growth variables.
Keywords: Economic Development, Poverty, Economic Growth, Distribution, Zakat Distribution
Funds
ISLAMIC MONETARY MANAGEMENT: A CRITICAL OVERVIEW
R. Moh Qudsi Fauzi Meri Indri Hapsari
Faculty of Economic and Business, UNAIR
Abstract
The paper aims to provide critical overview of Islamic monetary management. This is literature study
based on secondary data taken from some books, articles, and journal discussed related to modern
monetary economic and Islamic monetary economic. The references were produced by some authors
who are concern in the area of monetary system and monetary policy. The rest of this paper is structured
as follow: Section 1 gives an overview of background and monetary policy frameworks where Islamic
banks operate; Section 2 explores the monetary management in modern economy; Section 3 gives
information about the objective of monetary management; section 4 discusses the monetary policy
operational framework for Islamic banks; and Section 5 explains Islamic monetary instrument;
meanwhile Section 6 gives a critical overview; and Section 7 is conclusion.
Keywords: Monetary management, Islamic Monetary Management
Book of Abstract 2nd ICIEBP | 5
EXTERNALITIES IN WATER SANTRI SIDOGIRI NATURAL RESOURCES
PERSPECTIVE ISLAMIC ECONOMY 1Nikmatul Fuadah, 2R. Mohammad Qudsi Fauzi
1Magister of Sekolah Pascasarjana, Airlangga University 2Department of Islamic Economics, Faculty of Economics and Business, University of Airlangga
Abstract
The purpose of this research is to know Pupils externalities on drinking water company, Sidogiri
roomates-reviewed by Islamic economic resources. Externalities are Analyzed include positive
externalities and negative externalities. Then, researcher will conduct a discussion with Islamic
perspective to find out the way of externalities could happen on research object. This study uses
qualitative methods with descriptive case studies strategy. The object of this research is the factory of
bottled drinking water Rasta, Sidogiri. This research uses interviews to six informants consisting of
leadership of the PT. Sidogiri Mandiri Utama, play production manager of PT. Sidogiri Mandiri Utama,
and the surrounding people as a tool for getting information. After done interviews, research results will
be Analyzed by triangulation to get a conclusion. The roomates results of this research conducted by
observation and interviews to six informants is finding of positive externalitiess domination on the
economic and social fields while maintaining the balance of nature in comparison with negative
externalities.
Keywords: Externalities, Externalities Positive, Negative Externalities, and Islamic Economic
Resources
HOW ZAKAT CAN AFFECT INFLATION IN INDONESIA THROUGH MODIFIED
KEYNESIAN CONSUMPTION
Anim Kafabih and Angga Erlando
Brawijaya University, Airlangga University
Abstract
As bank of Indonesia with its inflation targeting failed, mainy, to maintain inflation in the
range that has been decided and also Indonesia never gain near zero inflation yet as a form of price
stability based on some economists, the main objective of this paper is to investigate on how to control
level of inflation through modified keynesian consumption model that mainly incorporates zakat and
israf. The data that are gathered from 2002-2016 (15 observation years) because of the very lack of data,
however, these data shows BLUE and no spurious regression. Venn diagram is utilised to compute
important variables in the model, simple regresion and some diagnostic test are conducted to study the
coefficient econometrically, and unit root test is conducted to see whether any spurious regression or
not. the result shows that zakat will make MPC of muzakki lower than mustahik, as muzakki pays higher
zakat to mustahik, this condition will not be followed by increasing level of inflation. However, the
study also shows that existing israf (extravagant in consumption) will gradually reduce the ability of
zakat to stabilise inflation.
Keywords: Consumption, Keynesian, Zakat, Muzakki, Mustahik, Israf, Inflation
Book of Abstract 2nd ICIEBP | 6
THE INFLUENCE OF POVERTY REDUCTION FUNDS BY THE GOVERNMENT, ZAKAT
FUNDS, INFAQ FUNDS AND MACROECONOMIC VARIABLES ON THE LEVEL OF
POOR POPULATION IN INDONESIA
Eko Fajar Cahyono, Siti Maghfirotul Ulya
Islamic Economics Department, Faculty of Economics and Business, Airlangga University
Mathematics Department, Faculty of Science and Technology, Airlangga University
Abstract
This study aims to investigate the influence of several important factors as determinants of the number
of poor people, among others, the first factor of poverty reduction funds provided by the Government
of Indonesia, this mitigation fund is an aggregate of food subsidy funds, non-food subsidies, social
security, education, and health budgets. Then the second factor is the zakat and infaq funds distributed
by government-owned zakat management institutions and some private zakat institutions with national
qualifications. The third factor is macroeconomic variables such as inflation, unemployment, and
economic growth, and these three variables are also considered to affect poverty. The research approach
uses quantitative methods and analytical methods using time series data regression. Data obtained from
government documents such as the Indonesian Central Statistics Agency, Bank Indonesia as the central
bank and the Ministry of Finance of the Republic of Indonesia. The Research Time Period was 2008 to
2018. The results showed that there was influence both silmultanly and partially between funds for
poverty reduction, funds for zakat and infaq funds and macroeconomic variables on the number of poor
people in Indonesia.
Keywords: Poverty Reduction Funds, Zakat Funds, Infaq Funds, Macroeconomics, Poor People
Book of Abstract 2nd ICIEBP | 7
INFLUENCE OF MICRO ECONOMIC AND MACRO ECONOMIC ON YIELD TO
MATURITY OF IJARAH SUKUK CORPORATION YEAR 2014-2017
Hana Khaiririah Ulfah, Kusnendi, Suci Aprilliani
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
The purpose of this research is to examine the influence of micro economic factor which is described
with profitability and firm size, and macro economic factor which is described with BI -Rate and
Inflation on the yield to maturity of sukuk ijarah. The yield to maturity of sukuk that will be received by
investors illustrates the level of investor profit but the yield level also describes the level of risk borne
by investors. This research is useful for investors in considering for profit and risk to be received. This
research was conducted on all companies listed on the Indonesia Stock Exchange in the 2014-2017
period which issued sukuk ijarah and published its financial statements during the study period. The
research samples is 68 ijarah sukuk. The data analysis technique used in this study is panel data
regression with fixed effect model. The results showed that profitability projected with Return on Asset
and firm size did not affect to yield to maturity of sukuk ijarah, BI-Rate variable had a positive and
significant effect on yield to maturity of sukuk
Keywords: Profitability (ROA), Firm size, BI-Rate, Inflation and Yield to Maturity and inflation had a
negative effect on yield of ijarah sukuk.
Book of Abstract 2nd ICIEBP | 8
CHAPTER 2: ISLAMIC FINANCE AND BANKING
BANK RISKS, SHOCK EVENT AND PROFITABILITY IN ISLAMIC BANKS: ADOPTION
OF PANEL DATA APPROACH
Zuriyati Ahmad, Noorazlina Ahmad, Nurul Syuhada Baharuddin
Faculty of Business and Management Universiti Teknologi MARA,
Cawangan Terengganu Malaysia
Abstract
In the current business environment banks are exposed to many risks while having its operation. These
risks are stated to be directly linked to what banks do and why bank fails. This includes the Islamic
banks which the bank risks can affect from many angles. Thus, this study tries to examine the impact of
bank risks together with the financial crisis to the variation of profitability in Islamic banks. Using 16
Islamic banks spanning from 2009 to 2016 in Malaysia this study has employed panel data analysis to
test for the hypotheses. Results illustrated that there are substantial influence of both credit risks and
liquidity risks credit risks on profitability in Islamic banks. Both shows the higher risks will lead to the
lower profit of the Islamic bank. While, financial crisis as claimed by many researchers is found to be
following the expected magnitude but has insignificant influences on the changes of Islamic bank
profitability. This result gives a clear indication to Islamic banks that undertaking risks will let to the
losses in the profitability of the banks but not affected by the financial crisis.
Keywords: Liquidity Risks, Credit Risk, Profitability, Islamic Banks, Financial Crisis
COMPARATIVE STUDY OF RETURN, RISK, AND RATING BETWEEN IJARAH AND
SUKUK MUDHARABAH OF PUBLIC COMPANIES
IN STOCK EXCHANGE WITHIN 2017
Sagung Anegsa Sakti, Dedi Wibowo
Universitas Indonesia
Abstract
The main purpose of this paper is to measure and compare the valuation variables of ijarah sukuk and
mudharabah sukuk. Using samples from 42 outstanding sukuk in Indonesia Stock Exchange secondary
market of fixed income instrument within 2017. Samples are divided into 2 groups, 32 sukuk ijarah and
10 sukuk mudharabah. Researcher use Liliefors / Kolmogorov-Smirnov to measure whether datas are
distributed normally or not. Then Paired Sample T-test and Wicoxon Signed Ranks Test is used to
measure the difference between two means. Conclusion is made from hipothesis, which is whether any
differences in rate of return, risk rate, and transaction volume between ijarah sukuk and mudharabah
sukuk. Conclusion from this research is that rate of return and credit rating of ijarah sukuk is higher than
mudharabah sukuk, thus risk rate of ijarah sukuk is lower than mudharabah sukuk.
Keywords: Sukuk, Ijarah, Mudharabah, Return, Risk, Rating
Book of Abstract 2nd ICIEBP | 9
THE IMPLEMENTATION OF ISLAMIC FINANCIAL LITERACY THROUGH KENCLENG
PROGRAM IN SCHOOL
Iis Aisyah, Dadang Saepuloh
Universitas Islam Syekh-Yusuf
Abstract
Islamic finance literacy consists of 3 aspects, namely basic money management, financial planning,
charity donation and zakat. One aspect of financial literacy is charity donation consisting of waqaf and
sadaqah (alms). Islamic finance literacy is important to be understood and applied early so that students
understand about the management of Islamic finance and has the characteristics of Muslims. Application
of Islamic financial literacy in schools can be applied one of them through the activity called kencleng.
The purpose of this study is to describe the implementation of Islamic financial literacy, especially about
alms through the program kencleng in schools, as well as one application of character education for
students. This kencleng program is done in SMK Lab School Tangerang. The method used is descriptive
method. The results of this study indicate that most students have the level of understanding of Islamic
financial literacy in the medium category that is equal to 81 percent. Behavior of charity kencleng as
my students is 63 percent or in fairly good category. It means the student who has good Islamic financial
literacy has good enough behavior of alms kencleng also in. Thus, this kencleng program becomes an
alternative to the application of Islamic financial literacy.
Keywords: Islamic Financial Literacy, Alms (kencleng)
FACTORS INFLUENCING CORPORATE ZAKAT EXPENDITURE (CASE STUDY OF
ISLAMIC BANKS IN INDONESIA PERIOD 2015-2017)
Rizky Utari, Hilda Monoarfa, Sri Yayu Ninglasari
Universitas Pendidikan Indonesia
Abstract
This study aims to see an overview of the rate of Return on Assets (ROA), Return on Equity (ROE) and
Firm Size and its influence on corporate zakat in Islamic Banks in Indonesia period 2015-2017. The
method used in this research is causality method with quantitative approach. The population of this study
is Islamic Banks registered in Bank Indonesia (BI) with a total sample of five Islamic Banks during
three year period. The data was analyzed using panel data regression. The dependent variable used in
this study is the corporate zakat expenditure. Furthermore, the independent variables are Return on
Assets (ROA), Return on Equity (ROE) and Firm Size. The results indicated that corporate zakat
expenditure on Islamic Banks has increased every year, while ROA and ROE has fluctuating growth.
ROA tends to icrease, but ROE tends to decrease. Based on the t-test results show that ROA does not
have effect on the corporate zakat expenditure while ROE and Firm Size have a positive and significant
effect on corporate zakat expenditure. Thus it can be concluded that when ROA increases, it does not
affect the corporate zakat and when ROE and firm size increases, it will increase the corporate zakat on
Islamic Banks.
Keywords: Corporate Zakat, ROA, ROE, Firm Size.
Book of Abstract 2nd ICIEBP | 10
RISK MANAGEMENT OF NON BANK HOME OWNERSHIP FINANCING
Alfinia Firrizqi, Fatin Fadhilah Hasib, Luluk Afiqh
Airlangga University
Abstract
The Ministry of Public Works and Housing through General Directorate of Housing Financing (2016)
estimated that housing demand by 2025 will reach more than 30 million units, so that this demand of
new housing estimated will reach 1,2 million unit per year. This condition shows that the demand of
houses is an important need for society. On the other hand, the amount of moslem in Indonesia per 2010,
according to BPS, has reached 85%. Both of these conditions show that there is a demand of houses by
applying Islamic values which one of them is by using istishna financing scheme. But, the
implementation of Islamic housing in Indonesia does not have standardized system yet in general, so
that it causes some risks that need to find out. Therefore, this research is meant to find out the risk
management of non-bank-house ownership financing by Sabrina Azzura.
Keywords: Risk Management, Syariah Housing, Sabrina Azzura, Istishna Financing
EFFICIENCY DETERMINANTS OF ISLAMIC INSURANCE IN INDONESIA 1Rachma Indrarini, 2Clarashinta Canggih, 3Sylva Alif Rusmita
1,2Program Studi Ekonomi Islam Economic Faculty Universitas Negeri Surabaya 3Department of Islamic Economic Airlangga University Surabaya
Abstract
This paper aims to divulge Islamic insurance companies efficiency and factors affect it. This paper uses
quantitative approach using DEA (Data Envelopment Analysis) to assess efficiency and Linear
Regression to analyze factors affected it. Input variables of this paper are total asset, expenses, and claim
payment, whereas output variables are income and tabarru fund within period of 2012-2016. Object of
this paper are Asuransi Syariah Al Amin, Takaful, and Asuransi Syariah Amanah Gita. The result
showed that in 2012 Asuransi Syariah Al Amin, Takaful, and Asuransi Syariah Amanah Gita reached
100% efficiency. In 2013, 2014, 2015 both Asuransi Syariah Al Amin, and Takaful reached above 50%
efficiency, while Asuransi Syariah Amanah Gita reached under 50%. Meanwhile in 2016 both Asuransi
Syariah Al Amin, and Takaful reached 100% efficiency, while Asuransi Syariah Amanah Gita reached
above 50%. Furthermore, it showed that only ROE and LNTA significantly affect efficiency.
Keywords: Islamic Insurance, Efficiency, ROE, LNTA, TER
Book of Abstract 2nd ICIEBP | 11
PREVENTION OF FRAUD IN SHARIA BANKING IN INDONESIA THROUGH
IMPLEMENTATION OF SHARIA CORPORATE GOVERNANCE
Mella Apriliani Astuti
Universitas Pendidikan Indonesia
Abstract
This research is motivated by the existence of fraud phenomenon that still occurs in sharia banking
environment which in fact is based on Islamic principles in every activity. Based on data from ACFE
(Association of Certified Fraud Examiners) in 2016 shows that banks and financial institutions are the
highest entities in the case of fraud. Sharia principles that are run by Islamic banks do not necessarily
make Islamic banks to avoid fraud cases. Cases of fraud that many overwrite Islamic banks may be due
to weak implementation of sharia corporate governance. The data in this research is obtained from Good
Corporate Governance of syariah banking (BUS-UUS) period 2012-2016 using a quantitative approach.
The result of research shows that the implementation of sharia corporate governance in syariah banking
is categorized into three parts that are very good, good and good enough but from the implementation
of sharia corporate governance is still not able to prevent fraud in sharia banking. This study has
important implications, namely sharia banking must be balanced with the ability of good human
resources because Islamic banks is a banking business that combines the principles of banking and
Islamic principles. In addition, organizational culture and tone at the top can also be a lock to prevent
fraud.
Keywords: Sharia Corporate Governance, Fraud
THE EFFECT OF LIQUIDITY, PROFITABILITY AND COMPANY SIZE OF THE VALUE
OF THE COMPANY WITH LEVERAGE MEDIATION
Idah Zuhro
Faculty of Economics and Business, University of Muhammadiyah Malang
Abstract
This study aims to obtain empirical evidence of the influence of leverage in mediation company size,
profitability and liquidity of the companys value. The research object is the property and real estate
companies that go public in Indonesia Stock Exchange 2012-2016 period. By purposive sampling
method and selected 31 companies. Path analyzes data analysis using software that utilizes the Linear
Structural Relationship (LISREL) version 8.8. The results showed only variables that directly affect
profitability positively significantly to the value of the company. Instead liquidity and size direct
negative effect on the value of the company, but not significant. The test results proved that leverage is
a variable that mediates the effect of liquidity.
Keywords: Liquidity, Leverage, Company Size, Profitability, Corporate Value
Book of Abstract 2nd ICIEBP | 12
CUSTOMER PREFERENCES IN SELECTING THE PAWN TRANSACTION IN
PEGADAIAN SYARIAH PADASUKA
Rindani Dwihapsari, Suryana, Juliana
Universitas Pendidikan Indonesia
Abstract
Pawn is believed to provide many benefits for people in need of quick funds, however the growing
phenomenon is that the image of sharia pawnshops is not quite good because the society considers that
sharia pawnshops is identical with the poor society, thus affecting the public preferences in choosing
the pawn transaction in sharia pawnshops. This study aims to examine the influence of the price factor,
location factor, and sharia factor towards customer preferences in selecting a pawn transactions in sharia
pawnshops. The population in this study are customers of the Branch Office of Sharia pawnshops at
Padasuka with its sample is eight five respondents. The technique used in this study is purposive
sampling. This study also used survey method with explanatory approach. The method is quantitative
with causality design. The data analysis used is multiple linear regression analysis using SPSS. The
results of this study with a confidence level of ninety percens, is that simultaneously price factor,
location factor, and sharia factor are positive and have significantly impact on customer preferences by
contributing fourty one percens presentation. Partially, factor price and location are factors that
positively and significantly influence to customer preferences, while the dominant influence is the price.
Meanwile, the sharia factor does not affect the customers preferences due to the reasons that customers
do pawn transaction is to fulfill their urgent needs, so that the principles of sharia not be a matter that
should be considered.
Keywords: Price, Location, Sharia, Customer Preference
ANALYSIS OF CORPORATE SOSIAL RESPONSIBILITY, CORPORATE PERFORMACE,
AND FIRM VALUE: JAKARTA ISLAMIC INDEX LISTED COMPANY 1M Bastomi Fahri Zusak, 2Sunan Fanani, 3Dwi Swasana Ramadhan
1Post Graduated Student, Universitas Airlangga, Surabaya, Indonesia 2Syariah Economic and Business Departement Universitas Airlangga, Surabaya, Indonesia
3Universitas Diponegoro
Abstract
This study aims to explain the relationship of influence between Corporate Social Responsibility (CSR),
corporate performance, and firm value in the listed companies in the Jakarta Islamic Index (JII). CSR is
a business ethic that must be carried out by companies related to social responsibility. The sample of
this research is the companies listed on the JII from 2015 to 2017. In this study has found the influence
arising from CSR disclosure and corporate performance on the value of firms obtained by stakeholders
of companies listed in the Jakarta Islamic Index, as well as both simultaneously have an influence on
company value.
Keywords: CSR, Corporate Performance, Firm Value, JII
Book of Abstract 2nd ICIEBP | 13
FACTORS THAT INFLUENCE SURPLUS UNDERWRITING OF TABARRU FUNDS IN
GENERAL ISLAMIC INSURANCE COMPANIES
Mohammad Firdaus Ramdhani P, Puji Sucia Sukmaningrum
Airlangga University
Abstract
This study aims to determine the effect of participants contributions, claims, net investment income, and
retakaful to surplus underwriting in general insurance of sharia in Indonesia. Selection of sample using
purposive sampling method which amounted to eight sharia companies. The data used are monthly in
the five years observation period, 2012 until 2016. The approach used is a quantitative approach with
panel data regression analysis and using Eviews 9 software. The results showed that the contribution
variable of participants and net investment income had positive and significant effect on the surplus
underwriting variable, while the claim variable had a significant negative effect on the surplus
underwriting. Meanwhile, the retakaful variable has no significant effect on surplus underwriting.
Keywords: Participants Contributions, Claims, Net Investment Income, Retakaful, and Surplus
Underwriting
FACTORS AFFECTING STOCK BETA COMPANIES LISTED IN JAKARTA ISLAMIC
INDEX 2012-2016 PERIOD
Jamilatul Munawarah, Puji Sucia Sukmaningrum, Muhammad Madya
Faculty of Economics and Business, Universitas Airlangga
Abstract
This study aims to analyze the effect of earning per share, debt to equity ratio, growth, return on asset
and firm size to stock beta in Jakarta Islamic Index in partially and simultaneously. This research uses
quantitative approach with linier multiple regression analysis technique. The statistical analysis tools
being used is SPSS 23 software. The population in this study are manufacturing companies listed on the
Jakarta Islamic Index (JII). The number of samples that meet specified criteria are seven companies
listed in Jakarta Islamic Index. The observation period of this study from 2012-2016. The result showed
that independent variables are earning per share, debt to equity ratio, growth, return on asset and firm
size simultaneously and significantly affect the stock beta in Jakarta Islamic Index. While partially, the
earning per share, debt to equity ratio and firm size have positive and significant impact, return on asset
has negative and significant impact and growth variables has no significant impact on stock beta in
Jakarta Islamic Index 2012-2016 period.
Keywords: Stock Beta, Earning per Share, Debt to Equity Ratio, Growth, Return on Asset, Firm Size
Book of Abstract 2nd ICIEBP | 14
GREEK CRISIS, CO-INTEGRATION, AND CONTAGION EFFECT OF SHARIA STOCK
MARKETS IN INDONESIA MALAYSIA AND SINGAPORE: IS THERE A PROBLEM FOR
INVESTORS?
Jaja Suteja, Elvira Zeyn
Universitas Pasundan, Department of Management, Indonesia
Abstract
The purpose of this study is to obtain empirical evidence of whether or not there is a co-integration of
the Islamic stock market in Indonesia, Malaysia and Singapore, both before and during the crisis of
Greek. This study also wants to find out which country is the most influential on the volatility of Islamic
stock prices in the Jakarta Islamic Index (JII). In this study secondary data applied during the observation
period is using weekly closing stock price data from 2007 to 2013. Furthermore, the data is divided into
two categories of observation: pre-crisis data and crisis period data. The pre-crisis period began in May
2007 to April 2010, and the crisis period began in May 2010 to January 2013. The analytical method
used was Vector Error Correction Model (VECM) with innovation accounting in the form of Impulse
Response Function (IRF) and Forecasting Error Variance Decomposition (FEVD). The result shows
that there is no co-integration in the capital market in the research sample. However, the results of the
study prove that there is a contagion effect on sharia stock price movements in these three countries.
This study also shows that Singapores sharia stock market dominates its influence on JII compared to
Malaysia.
Keywords: co-integration, contagion effect, Greek crisis, Jakarta Islamic Index, Dow Jones Islamic
Market Malaysia
ANALYSIS OF BANKRUPTCY POTENTIAL IN ISLAMIC COMMERCIAL BANKS USING
THE GROVER G-SCORE METHOD FOR THE 2012-2017 PERIOD
Dian Filianti, Dina Fitrisia Septiarini
Department of Islamic Economics, Airlangga University
Abstract
High competition among Islamic banks is likely to cause financial difficulties due to the proportion of
the number of banks that appear with few existing customers. This research aims to examine about the
analysis of bankruptcy potential in Islamic bank. This research uses quantitative approach, calculated
by Grover G-Score method and Discriminant analysis technique to find new coefficient. The sampling
method is purposive sampling. This research used secondary data from 12 Islamic Banks that has been
listed in the Financial Services Authority (OJK) 2012-2017. This study result showed that there are 57
Islamic commercial banks have G-Score value of > 0,01 which is safe and in healthy condition, while
there are 3 Islamic banks that fall into the category of bankruptcy because the value obtained is G < -
0.02.
Keywords: Bankruptcy, Islamic Commercial Bank, Grover G-Score
Book of Abstract 2nd ICIEBP | 15
HIDING BEHIND SHARIAH VEIL: LESSONS IN DANA GAS SUKUK SAGA
Najeeb Zada
Islamia College University, Peshawar, Pakistan
Abstract
In June 2017, Dana Gas made a shocking announcement that its sukuk has ceased to be Shariah
compliant due to changes in Shariah interpretations. The Islamic finance industry in general and the
holders of sukuk in particular criticized this move by Dana Gas. The post-announcement litigation which
took place in the English and UAE courts evidenced that the real issue which is faced by the company
is financial in nature and it not related to Shariah and its interpretation. In other words, Dana gas is only
using the name of Shariah to avoid its payment obligations. This situation is more akin to the issue of
hiding behind the corporate veil in conventional sense. In the case of Dana Gas sukuk, it is obvious that
the company attempted to hide behind Shariah veil. Using library research method in this study, we
analyze the case from Shariah perspective and conclude that the very notion of Shariah which is said to
be the essence of Islamic finance has been misused for financial gains. This research also questions the
widely held belief that Islamic finance is based on ethical values. Lastly, the research exposes the
somewhat disappointing role played by Shariah scholars in such incidents. The findings of the study are
expected to enlighten the stakeholders of Islamic finance about some critical issues which hinder the
growth and credibility of the industry.
Keywords: Shariah Compliance, Sukuk, Corporate Veil
THE ROLE OF DIGITAL FINANCE TO STRENGTHEN FINANCIAL INCLUSION AND
THE GROWTH OF SME IN INDONESIA
Atina Shofawati
Islamic Economics Department, Faculty of Economics and Business, Universitas Airlangga
Abstract
At this era, innovation in technology is one of the key success factor for business to strengthen the
maturity life of product life cycle, included financial industry. Nowadays the need for speed in delivery
of product or services included in financial services especially Islamic Financial Services is very
important. Indonesia which have the unique topography which consist of many islands need the speed
of product or service delivery especially for the Small and Medium Enterprise (SME) financing which
is the fundamental of economy in Indonesia. This paper have purpose to describes the role of Digital
Finance to Strengthen Financial Inclusion and the Growth of SME in Indonesia.This paper uses
qualitative method. The result of this research is describe the model of the role of Digital Finance to
Strengthen Financial Inclusion and the Growth of SME in Indonesia.
Keywords: Digital Finance, Financial Inclusion, Growth of SME, Indonesia
Book of Abstract 2nd ICIEBP | 16
COMPARING PREDICTION OF FINANCIAL PERFORMANCE OF SHARIA AND
CONVENTIONAL BANKING AND ITS INFLUENCE USING ARTIFICIAL NEURAL
NETWORK (ANN) 1Ulumuddin Nurul Fakhri, 2Saiful Anwar, 3Rifki Ismal, 4Ascarya
1University College of Islamic Economics Tazkia (STEI TAZKIA) 2Ahmad Dahlan School of Economic
3,4Department of Islamic Economics and Finance, Central Bank of Indonesia
Abstract
The purpose of this study is to identify the variables that predispose financial performance, as well as
predict the decrease and increase of financial performance. This research will provide benefits for sharia
banking, all stakeholders and banking regulators to manage risk and strongly maintain the industrial
progress. The analysis uses Artificial Neural Network (ANN) model to find out the variables that
influence financial performance and predict the decrease and increase of financial performance of sharia
and conventional banking for the next five months. This research generates the variables which affect
the financial performance of sharia banking and the prediction of financial performance over the next
five months. The variables which affect the level of financial performance of sharia banking influenced
dominantly by inflation. This shows that syariah banking CBGB (Commercial Bank – Group of
Business) 2 is very vulnerable with macroeconomic factors. ANN predictions produce an average of
80% success in predicting performance over the next five months.
Keywords: Islamic Banking, financial performance, Artificial Neural Network (ANN), CBGB
(Commercial Bank – Group of Business)
THE INFLUENCE OF BANK OWNERSHIP ON BANK PERFORMANCE AND RISKS (THE
CASE OF SHARIA COMMERCIAL BANKS IN INDONESIA)
Sellen Ravindy, Nisful Laila, Lina Nugraha Rani, Puji Sucia Sukmaningrum
1Student of Islamic Economics Undergraduate Program, Faculty of Economics and Business
Airlangga University 2,3,4Department of Islamic Economics, Faculty of Economics and Business Airlangga University
Abstract
This research aims to find out the influence of bank ownership (domestic, foreign, state-owned, or
private) on bank performance and risks in Sharia Commercial Banks in Indonesia. This research uses
quantitative approach with multiple linear regression analysis technique. The results of the research
show that variable of Domestic-Foreign Bank has positive significant effects, variable of State Owned-
Private Bank has negative not significant effects on the Return on Assets, and variable of Domestic-
Foreign Bank has positive significant effects, variable of State Owned-Private Bank has negative
significant effects to the Non-Performing Financing on Sharia Commercial Banks in Indonesia.
Keywords: Ownership of Domestic-Foreign Bank, Ownership of State Owned-Private Bank, Return on
Assets, Non-Performing Financing
Book of Abstract 2nd ICIEBP | 17
ANALYSIS OF THE HEALTH OF ISLAMIC BANKS WITH APPROACH TO
RENTABILITY FACTORS (EARNING)
Eris Tri Kurniawati, Syamsul Hadi, Gina Harventy, Yunan Syaifullah
Faculty of Economics and Bussiness, University of Muhammadiyah Malang
Abstract
The level of health of Islamic banks is a measure that States that an Islamic banking institution have
good qualifications in terms of liquidity, solvency and profitabiltias, in addition to being able to run the
function and role of intermediary institutions as well. This research aims to analyze the extent of the
influence of the ratio of the supporting factors in the assessment of earning or earning ratios that in proxy
by the Return On Asset (ROA) as the variable X 1, the ratio of the efficiency of the operational activities
(REO) as the variable X 2 and the ratio of Assets that can generate revenue (IGA) as the variable X 3 in
contributing the main factor ratio rentabiltias at the level of health of bank syariah i.e. Net Operating
Margin (NOM) as the variable Y. The sample in this research is the entire population of the study i.e.
the National Islamic Bank which has provided a bank statement on the financial services authority (OJK)
for the period January 2011 until December 2015. Model analysis of the multiple linear regression model
using and being estimated using OLS (Ordinary Least Square). Based on the research results obtained
value R Square of 0,202. The figure indicated that the ability of the independent variable (the ratio of
ROA, ROE ratio and the ratio of IGA) in explaining his independent variables (ratio of NOM) amounted
to 20.2% while the rest is affected by other variables.
Keywords: Bank, Earning Health Levels, Return on Assets, Operational Activities Efficiency Ratio,
The Ratio of Assets That Can Generate Income, Net Operating Margin
INTERTEMPORAL EFFICIENCY ANALYSIS OF INDONESIAN SHARIA COMMERCIAL
BANK AFTER SPIN OFF PERIOD 2013-2017 DATA ENVELOPMENT ANALYSIS
(WINDOW ANALYSIS)
Ulfi Alayya, Lina Nugraha Rani
Department of Islamic Economics Faculty of Economics and Business Airlangga University
Abstract
This study compares the operational stability of the Islamic Bank in Indonesia in post with a spin off
research period 2013 to 2017 with the method of analysis with Window DEA or Intertemporal
Efficiency Analysis. Window analysis is one of the development of DEA models that can measure the
level of efficiency from time to time (intertemporal) observations on inputs and outputs from the DMU
over several time periods, it is important to conduct panel data analysis where it focuses on changes in
efficiency from time to time. income. The results are BRI sharia bank is the most efficient and stable
out of the other several banks that is the research sample. This proves the concept of efficiency, which
emphasizes the utilization of certain company inputs to achieve maximum output levels. In this case,
BRI Sharia able to utilize inputs, namely TPF & labor costs to produce maximum output, namely
financing and operating income.
Keywords: Islamic Bank Intertemporal Efficiency Analysis
Book of Abstract 2nd ICIEBP | 18
OPTIMIZATION OF ISSI STOCK PORTFOLIO USING SINGLE INDEX MODELS IN 2013-
2017
Firsty Dzanurrahmana Zein, 1Khurul Aimmatul Umah, 2Sri Herianingrum, 3A. Syifaul Qulub, 4Sylva
Alif Rusmita
1Student Postgraduate Science of Islamic Economics, Airlangga University, Indonesia 2,3,4Lecturer Faculty of Economic and Business, Airlangga Universtity, Indonesia
Abstract
The purpose of this study to was be able to establish the optimal portfolio generated from stocks listed
on Indonesia Sharia Stock Index consistently in 2013-2017 and measure its proportion of funds in order
to determine its potential as an instrument for the major community to invest in the stock market.
Calculations using single index model approach, monthly stock price data and SBIS as a proxy of the
risk free rate, produce the optimal portfolio composed of fifty eight stocks gives an expected return of
2,62% every month or 31,44% every year. The value of systematic risk relative to market risk portfolio
is 0,79 with a standard deviation value or portfolio risk of 0,0275. As for the portfolio with a Single
Index Model generate return a higher than the return ISSI, Jakarta Islamic Index (JII), and IHSG Index.
So, this paper is important to investors or investment managers because they are can make this portfolio
as investment considerations.
Keywords: Optimal Portfolio, Single Index Model, Indonesia Sharia Stock Index
COMPARISON MODEL BUSINESS, STABILIZATION, AND FINANCE PERFORMANCE
OF SHARIA COMMERCIAL BANK AND CONVENTIONAL COMMERCIAL BANK IN
INDONESIA IN 2012-2016
Yanani Mutiara Dewi, Dina Fitrisia Septiarini
Airlangga University
Abstract
The aim of study was determine the difference in business model, banking stability, and financial
performance of Islamic banks and conventional banks around period 2012-2016. The variables used of
business model are fee based income ratio, financing to deposit ratio, growth of third-party funds ratio,
net profit margin ratio variable used in banking stability are z-score, and financial performance use net
profit margin ratio. Thus study used quantitative research method. The populations of this research are
Islamic banks and conventional banks in Indonesia. This research used three Islamic banks and six
conventional banks which have commercial banking business model type as a sample, the analyzed by
comparative analysis test using Independent Sample t-test and Mann Whitney test. The comparative
analysis result in business model showed that there are differences in secondary banking, that is fee
based income, while there showed no differences in primary banking, that are third-party fund ratio and
financing to deposit ratio. There was showed no difference in banking stability measured using z-score.
There was no difference in financial performance measured using net profit margin.
Keywords: Business Model, Banking Stability, Financial Performance, Commercial Banking
Book of Abstract 2nd ICIEBP | 19
SHARIA COMPLIANCE ON MORTGAGE PRODUCT WITH IJARA MUNTAHIYA
BITTAMLIK CONTRACT IN SHARIA PERMATA BANK
Amalia Damayanti, Arim Nasim, Firmansyah
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
One of the differences between conventional and sharia financial institution is sharia compliance. It also
become an important indicator of bank compliance towards Islamic values. This study used primary
data through interviews by questionnaire. The population in this research include all of IMBT mortgage
customer in Sharia Permata Bank by 100 respondents as the sample by using purposive sampling
technique. The method of this study used descriptive quantitative approach to describe the characteristics
of respondents and how the contract implementation in IMBT mortgage product. Based on the results
of the research, it shows that levels of sharia compliance in IMBT mortgage product at Sharia Permata
Bank got in good category, even though some of indicators got sufficient category.
Keywords: Sharia Compliance, Ijara Muntahiya Bittamlik, Mortgage, Sharia Permata Bank
APPROPRIATE YIELD CURVE MODELING FOR SUKUK 1Sulistya Rusgianto, 2Nursilah Ahmad, 3Siti Nurazira Mohd Daud, 4Siti Zulaikha
1,4Faculty of Economics and Business, Universitas Airlangga, Indonesia
2Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia 3College of Business, Universiti Utara Malaysia
Abstract
This paper aims to examine the effect of macroeconomic variables namely inflation rate, industrial
production index, and the interest rate on Indonesia Islamic stock that be measured by Indonesia Islamic
Stock Index (ISSI). This index consists 350 Islamic stocks at Indonesia Stock Exchange. Investors
generally believe that macroeconomic activities give a large impact on the volatility of the stock prices
(Gan et al., 2006). This study uses quantitative approach with multiple linear regression by utilizing
monthly data over the period of May 2011 to November 2017. The results of this empirical research
show that Indonesia Sharia Stock Index is affected significantly by the inflation rate, industrial
production index, and interest rate. Therefore, this is necessary to evaluate the relationship between
macroeconomic variables and Islamic stock prices since the results would be able to bring an impact to
stimulate the existence of Islamic capital market in Indonesia.
Keywords: Macroeconomic Variables, Islamic Stock Prices, Indonesia Sharia Stock Index
Book of Abstract 2nd ICIEBP | 20
EFFICIENCY OF TABARRU FUND MANAGEMENT AT SHARIA INSURANCE
COMPANIES IN INDONESIA
Marina Sarah, A. Jajang W. Mahri, Aneu Cakhyaneu
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
The growth of Sharia Insurance has been quite rapid in recent years, but in 2013 the performance was
less than optimal. There are only six life insurance that have received surplus and seven general
insurance that still deficit. One of many causes of the lack of optimal performance is inefficiency, while
that is related to how to obtain the maximum level of output with a certain amount of input. This study
aims to determine level of efficiency in Sharia Insurance for the period 2012-2016 and find out the
causes. This study uses secondary data from 13 companies. Research method used is descriptive with
Data Envelopment Analysis (DEA). The input variables used assets, operating expenses and claim
payments. Furthermore, output variables used contributions, investment income and tabarru funds.
Based the results of research conducted is known that, the condition of Sharia Insurance in Indonesia
has not been efficient. There were 12 companies that experienced inefficiencies due to the high
operational costs and the low contribution.
Keywords: Efficiency, Sharia Insurance Companies, Data Envelopment Analysis (DEA)
DETERMINAN OF NON PERFORMING FINANCING IN INDONESIA ISLAMIC BANK
Melianda Visca Wulandari, Suryana, Suci Aprilliani Utami
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
In 2017, there was an increase in Non Performing Financing (NPF) in Islamic Bank until the NPF Ratio
reached five point twenty seven percent. It show that NPF Ratio in that period exceeds the standard
provision of Bank Indonesia of five percent. This phenomenon is one of them caused by the high
channeling of financing to customers without accompanied by an increase in financing quality. This
study aims to examine the determinants of non performing financing period 2013-2018. This study uses
secondary data from six Indonesia Islamic Bank. This study used descriptive eksplanatory method with
data analysis technique is pooled data regression analysis. The results showed that the Capital Adequacy
Ratio (CAR) and Financing to Deposit Ratio (FDR) have a significant negative effect on NPF. While,
the Bank Indonesia Sharia Certificates (SBIS) rate has not effect on NPF. The result of simultaneous
regression show that the CAR, FDR and SBIS rate have effect on NPF.
Keywords: Non Performing Financing (NPF), Capital Adequacy Ratio (CAR), Financing to Deposit
Ratio (FDR), SBIS rate
Book of Abstract 2nd ICIEBP | 21
RISK MANAGEMENT OF PENSION FUNDS OF SHARIA FINANCIAL INSTITUTIONS
(EVIDENCE FROM A PENSION FUNDS OF MUAMALAT SHARIA FINANCIAL
INSTITUTIONS)
Septianingrum Dewi Purnamasari, Lina Nugraha Rani
Department of Islamic Economics Faculty of Economics and Business Airlangga University
Abstract
The purpose of this research is to find out and analyze how the risk management of Islamic financial
institution pension funds at the Muamalat Sharia Financial Institution Pension Fund (MSFIPF). This
study uses qualitative methods with case study strategies. The object of this study was the Muamalat
Sharia Financial Institution Pension Fund, an assessment was carried out using the Australian Standard
/ New Zealand Standard 4360 : 1999 qualitative analysis method. The results of this study have found 5
types of risks identified namely strategic risk, operational risk, risk of assets and liabilities, reputation
risk, and risk to participants. The results obtained from the risk assessment resulted in 17 types of risk
descriptions, consisting of 4 types of risk descriptions with significant levels, 9 types of risk descriptions
with moderate levels, and 4 types of risk descriptions with low levels. Based on the research it was found
that a significant level is the level of risk description that must be considered highly because the
opportunity is quite high and has a detrimental impact on the Muamalat Sharia Pension Fund. The level
of risk description at the significant level of the Muamalat Syariah Pension Fund consists of 4 risk
descriptions, among others, 3a. Investment returns are not in accordance with the benchmark, 3b. a
mistake participants choose investment package (MSFIPF), 5a. fluctuating risk (participants), and 5b. a
mistake in selecting investment packages (participants).
Keywords: Risk Management, Sharia Pension Fund, Muamalat Sharia Pension Fund
CUSTOMERS LITERACY ON ISLAMIC HOUSE FINANCING PRODUCTS
Indah Bidari, A. Jajang W. Mahri, Rida Rosida
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
Sharia financial literacy is a persons understanding on the products of Islamic financial institutions in
order to improve the ability and willingness of someone to take advantage of products in the Islamic
financial institutions as one solution for the needs of economy. This study aims to obtain a picture of
how the level of literacy of Islamic house financing products in Islamic house financing customers with
various kinds of contracts used in sharia house financing. This research uses quantitative descriptive
method. The population in this study are sharia financing customers which amounted to 150 people and
a sample of 80 people with purposive sampling technique. Instrument in this study using questionnaires.
The results of this study indicate the level of customer literacy on shariah house financing products and
kinds of contracts used in sharia house financing in different Islamic banks are in good category,
although there are some indicators are in good enough category.
Keywords: Islamic Financial Literacy, Murabaha, Musharakah Mutanaqisah, Istisna, Sharia house
financing
Book of Abstract 2nd ICIEBP | 22
THE IMPACT OF MACROECONOMIC ON ISLAMIC STOCK PRICES: EVIDENCE FROM
INDONESIA
Imron Mawardi, Tika Widiastuti, Puji Sucia Sukmaningrum
Faculty of Economics and Business, Airlangga University
Abstract
This paper aims to examine the effect of macroeconomic variables namely inflation rate, industrial
production index, and the interest rate on Indonesia Islamic stock that be measured by Indonesia Islamic
Stock Index (ISSI). This index consists 350 Islamic stocks at Indonesia Stock Exchange. Investors
generally believe that macroeconomic activities give a large impact on the volatility of the stock prices
(Gan et al., 2006). This study uses quantitative approach with multiple linear regression by utilizing
monthly data over the period of May 2011 to November 2017. The results of this empirical research
show that Indonesia Sharia Stock Index is affected significantly by the inflation rate, industrial
production index, and interest rate. Therefore, this is necessary to evaluate the relationship between
macroeconomic variables and Islamic stock prices since the results would be able to bring an impact to
stimulate the existence of Islamic capital market in Indonesia.
Keywords: Macroeconomic Variables, Islamic Stock Prices, Indonesia Sharia Stock Index
RISK ANALYSIS OF DEFAULTED SUKUK 1Sulistya Rusgianto, 2Nursilah Ahmad, 3Zurina Kefeli, 4Silva Alif Rusmita
1,4Faculty of Economics and Business, Universitas Airlangga, Indonesia 2,3Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia
Abstract
The objective of the study is to analyze the default risk of sukuk. The beta of the CAPM model is used
as the proxy to measure specific sukuk risk. The study uses the yields of the selected defaulted sukuk in
the Malaysian market as data set sample. The finding suggests that the defaulted sukuk is historically
considered more risky than the market benchmark as indicated by 12 out of 13 selected defaulted sukuk
have beta more than one. The finding implies that the estimated beta may be used as an indicator for
default risk in which the higher beta indicates the higher probability to default, and vice versa.
Keywords: Sukuk, Default Risk, Defaulted Sukuk, Islamic Capital Market, Islamic Finance
Book of Abstract 2nd ICIEBP | 23
SYARIA BANKING CUSTOMER ADAPTATION
Tita Terista
Universitas Pendidikan Indonesia
Abstract
This article discusses about the adaptation to syaria banking consumer compare between conventional
banking consumer. Syaria banking in Indonesia has already growth before reformation era. In the
moneter crisis in 1998, syaria banking succeed to be survival and succeed to develop their suistanability
In this paper, simple research or survey has done to finding fact about the customer motivation to join
with the BPRS HIK Parahyangan to get Islamic funding. Survey has done to teacher as customer to find
out their adaptation for syaria banking compare than conventional banking. Author is windering to know
what is the motivation off teachers customer to got funding from Islamic banking is it influenced by the
religion or spiritual orientation or is about the pragamatical orientation. To answer that question, author
make a simply research to 50 teachers as a sample whom the BPRS HIK Parahyangan customers, and
most of them are elementary school teachers. To know the main idea to join with the syaria banking
compare than conventional banking will be very important to analyze the growth of syaria banking.
They are five stages to the consumer adoption process, they are Product awareness, Product interest,
Product evaluation, Product trial, and product adoption. The main questions has given to the respondent
are Are you aware that BPRS HIK Parahyangan is syaria bank or Islamic bank, are you join with funding
in BPRS HIK because that product is syaria funding, do you choosed the product is not because of syaria
but advantage of the product for do you tried syariah banking is for the first time and you comfort with
it and do you adopt the this funding because you glad to choose syaria product ? the result of this simple
research is the customers join with the BPRS HIK Parahyangan as an Islamic Bank is not because they
are moslem who must be choose the syaria bank but they oriented to the product. it is not necessary for
them either tha bank is syaria or conventional.
Keywords: Syaria Bank, Customer Adoption, Product
Book of Abstract 2nd ICIEBP | 24
CHAPTER 3: ISLAMIC BUSINESS AND ENTREPRENEURSHIP
SERVICE QUALITY IN ISLAMIC PERSPECTIVE WITH THE RELIGIOUS KNOWLEDGE
LEVEL AS MODERATOR VARIABLE
Ririn Tri Ratnasari, Putri Erika Rahmawati
Department of Islamic Economics, Airlangga University, Indonesia
Abstract
This research aims to determine the effect of service quality in Islamic perspective on customer
satisfaction and switching intentions moderated by the religious knowledge level of Muamalat Bank
customer. This research uses quantitative approach and Partial Least Square (PLS) analysis technique.
The sampling method is purposive and accidental sampling. This research used questionnaire data from
100 Muslim customer of Muamalat Bank that has been listed as a client of funding. This study result
showed that service quality in Islamic perspective has a significant and positive effect on customer
satisfaction, and religious knowledge level strengthens the effect of customer satisfaction on switching
intention. Meanwhile, service quality from Islamic perspective has no significant effect on switching
intention.
Keywords: Service Quality, Customer Satisfaction, Switching Intention, Religious Knowledge
THE IMPLEMENTATION OF ISLAMIC VALUES IN IMPROVING THE QUALITY OF
EMPLOYEE PERFORMANCE IN WORKPLACE
Marsudi, Rizki Febriani, Chalimatuz Sadiyah, Yeyen Pratika
Management Department, Economics and Business Faculty,
Muhammadiyah University of Malang
Abstract
The purpose of this study is to analyze the role of Islamic values in improving the quality of employee
performance. The total of 138 questionnaires was distributed to the employee of Muslim restaurants in
East Java, Indonesia. The data is analyzed by using Smart-PLS and Sobel. The results show that Islamic
values are proven to increase the employee satisfaction and performance. The business implication of
this study is management need to ensure that the employees are actively involved in the application of
moral and Islamic values in their workplace with the support of the leader.
Keywords: Islamic Values, Islamic Leadership, Islamic Work Ethic, Islamic Work Satisfaction, Islamic
Performance
Book of Abstract 2nd ICIEBP | 25
THE ROLE OF GOLD DINAR AND SILVER DIRHAM USER ENTREPRENEURSHIP
COMMUNITY IN DINAR-DIRHAM REPLACEMENT EQUIPMENT AS A MEDIUM OF
EXCHANGE
Srie Nuning Mulatsih, Aisyah Ratnasari, Dadang Saepuloh
Universitas Islam Syekh-Yusuf
Abstract
The issue of going back to use gold dinar and silver dirham as currency has become warmly discussion
since the ASEAN currency depreciation crisis in 1997/998 and the global economic crisis going on
nowadays. Until now, there is still no one ideal mechanism implemented globally the use of gold dinar
and silver dirham. Even has still not implemented globally yet but there are efforts for some of
communities to implemented them in daily life, transaction, like the community of the entrepreneurs
community of dinar dirham users. The question arose: will gold dinar and silver dirham can be used
back as mediumof exchange in current economy? So, this study aims to examine the role of the
entrepreneurs community of dinar-dirham users in effort implementation of dinar dirham as medium of
exchange. This is quantitative study going by the strategy of the field research and by using the variables,
economic aspects and religious aspects. This study also used library research approach. The result of
this research with purposive sampling method at user community gold dinars and silver dirhams as
medium of exchange effort religion aspects is dominant factor than economical factor and the research
shows that the role of the entrepreneurs community of dinar dirham users in effort implementation of
them as currency are quite suitable, because of inadequate awareness reforms and lack political will
(consensus from other nations to use gold dinar and silver dirham as money) and the ignorance of people
about the function of gold dinar and silver dirham as medium of Exchange.
Keywords: Gold dinar, Silver dirham, Entrepreneurs Community of Dinar Dirham Users, Economic
Crisis
ENTREPRENEURSHIP EDUCATION GROWS SANTRIS ENTREPRENEURIAL SPIRIT
(EVIDENCE INDONESIAS ISLAMIC BOARDING SCHOOL) 1M. Haris Hidayatulloh, 2Tika Widiastuti, 3Sri Herianingrum, 4Taqiyah Dinda Insani
1,4Post Graduate School, Airlangga University, Indonesia 2,3Faculty of Economy and Business, Airlangga University, Indonesia
Abstract
Pesantren as the oldest educational institutions in Indonesia have an authentic method to foster the
entrepreneurial spirit inside of his students. To know the implementation of entrepreneurial education,
this study successfully capture to an effective system of entrepreneurship education. By using a
qualitative method that uses interviews as a data collection techniques, unearthed accurate information
from relevant actors in order to provide similar benefits to practitioners elsewhere. Triangulation
technique has also been done so that the results of this study are robust.
Keywords: Pesantren, Santri, Entrepreneurship, Islamic Boarding School
Book of Abstract 2nd ICIEBP | 26
ISLAMIC BRANDING AND SOCIAL MEDIA: IMPLICATIONS ON STAY DECISIONS IN
SHARIA HOTEL
Debi D. Andini, Moch. Adib Sultan, Neni Sri Wulandari, Mira Nurfitriya
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
Public awareness of Moslem-friendly tourism is increasing but it has not been followed by supporting
facilities such as places of worship, halal food and beverages, also sharia hotel. On the other hand, the
growth of moslem tourist visiting in 2014 was 30% to 40% higher than the growth of conventional
tourists who come to Indonesia but had not been matched by the availability of adequate sharia hotels.
This research uses primary data through online questionnaire distribution on one of social media
platforms called instagram. The population in this research are the guests who stay in Noor Hotel
Bandung with samples of 100 respondents with purposive sampling technique. The method used in this
reasearch is descriptive verivicative with multiple linear regression test equipment. The results show
that Islamic branding is in the highest category and social media is in medium category. While on
multiple regression test, islamic branding and social media have a significant positive effect to the
decision to stay at Noor Hotel. R square value of 0.492 or 49.2% means that the decision to stay at Noor
Hotel is influenced by Islamic Branding and social media by 49%, while the rest 51% is influenced by
other factors not examined by the author.
Keywords: Sharia Hotel, Islamic Branding, Social Media, Stay Decision, Noor Hotel
THE IMPLEMENTATION OF GOOD GOVERNANCE BUSINESS SHARIAH IN
INDONESIA SHARIAH BANKING
Ahmad Juanda, Fredy Dwi Herlyanto, Tri Wahyu Oktavendi
University of Muhammadiyah Malang
Abstract
The aim of this research is to describe the implementation of Good Governance Business Shariah in
Indonesia Shariah Banking. Content analysis is used in this study to identify GGBS indicators. Indicators
in this research is formed from KKNG. The results show that the average implementation of GGBS in
Indonesia Shariah Banking is 94%, this shows that shariah banking have implemented a good GGBS to
maintain Indonesia Shariah Bankinginess survibality and safeguard the interests of stakeholders.
Keywords: Good Governance Business Shariah, Content Analysis, Implemetation
Book of Abstract 2nd ICIEBP | 27
THE INFLUENCE OF PRODUCT KNOWLEDGE AND ATTITUDE TOWARDS
INTENTION IN MUDHARABAH FUNDING PRODUCTS IN SHARIA BANKS IN
MATARAM
Achsania Hendratmi, Baiq Vidia Khairunnisa, Luthfi Nur Rosyidi
Airlangga University, Surabaya, Indonesia
Abstract
This study aims to determine the effect of product knowledge on attitude and purchase intention for
mudharaba financing in Islamic bank in Mataram. This study uses a quantitative approach using the test
path analysis. Sources of data in this study using the primary data that is questionnaire. The
characteristics of the study population are customer of Islamic bank in Mataram who have business and
not use mudharaba financing. The number of samples in this study were 250 respondents. The sampling
technique that can be used is probability sampling with random sampling. Based on the results of the
study, it is indicated that product knowledge significantly influences the attitude, product knowledge
significantly influences the purchase intention, and attitudes significantly influence the purchase
intention. The suggestions for Islamic Bank in Mataram is to use personal promotionabout mudharaba
financing and increase the service and facilities to improve the contumer intention.The suggestions for
further researcher, can be done by adding the level of purchase knowledge and usage knowledge as
eksogenvariable and research can be done on other objects in the field of services such as BMT.
Keywords: Product Knowledge, Attitudes, Purchase Intention of Mudharaba Financing
THE INFLUENCE OF ISLAMIC BRAND PERSONALITY TOWARDS BANK MUAMALAT
SURABAYA BRAND LOYALTY
Achsania Hendratmi, Bayu Laksana D.M
Airlangga University, Surabaya, Indonesia
Abstract
his study aimed to discern the influence of brand personalities which are Siddiq (Honest), Amanah
(Trustworthy), Fatanah (Professional), and Tabligh (Communicative) - derived from Islamic Prophet
Muhammad personality - towards brand loyalty of the customers of Bank Muamalat Surabaya. The
primary data in this study was collected by questionnaire with 111 customers as the sampling. The
researcher used quantitative method and multiple linear regression analysis. The exogenous variable in
this study is Siddiq, Amanah, Fathanah and Tabligh, while the endogenous variable is the brand loyalty
of the customers. The result showed that Siddiq, Amanah, Fatanah and Tabligh significantly affect
students’ satisfaction, by F score equals to 97.062 with significance level (probability) at 0.000. The
score for t test of Shiddiq, Amanah, Fathanah, and Tabligh partially affected the brand loyalty of the
customers with the significance level equals to <0.05.
Keywords: Islamic Brand Personality, Brand Loyalty
Book of Abstract 2nd ICIEBP | 28
MICRO ENTREPRISE EMPOWERMENT MODEL THROUGH ISLAMIC FINANCIAL
SERVICE COOPERATION (STUDY IN INDONESIA-MALAYSIA) 1Sri Herianingrum, 2Muhammad Syukri Salleh, 3Ririn Tri Ratnasari
1,3Faculty of Economic and Bussiness Universitas Airlangga 2Islamic Economic Development, Universiti Sains Malaysia
Abstract
Micro-enterprise is a business that dominating the economy of Indonesia and Malaysia. The main
problem faced by micro businesses is the issue of capital. The existence of Islamic financial service
cooperation is expected to solve the problems of capital for micro-enterprises. Based on these
descriptions then this study wanted to exercise how the empowerment model of micro enterprises
implemented through enterpreneurs empowerment by Islamic financial service cooperation (IFSC). This
study used qualitative methods to explore micro enterprises empowerment in order to get a micro
business empowerment model. Both in Indonesia as well as Malaysia empowering micro businesses by
IFSC appears from its ability to obtain capital, able to motivate the group, and was able to get access to
the Government. The difference is in the intensity of the attention of the Government, the Government
of Malaysia more intense attention on micro enterprises, so that micro enterprises more easily get access
to the pemerimtah and other financial institutions.
Keywords: Micro Entreprise, Islamic Financial, Service Cooperation, Empowerment, Model
THE PRODUCTION BEHAVIOUR OF MUSLIM RESTAURANT TOWARDS THE RISE OF
THE BASIC COMMODITIES PRICES 1Rahmania Nur, 2Irham Zaki
1,3Postgraduate Student of Islamic Economics Science, Universitas Airlangga 2Department of Islamic Economics Faculty of Economics and Business, Universitas Airlangga
Abstract
The purpose of this research is to examine the production behavior of Muslim restaurant towards the
rise of basic commodities prices. The method used for the study is qualitative descriptive case study.
The data used are primary data and secondary data. Primary data was obtained from the results of
interviews, observations and documentation on the parties concerned, while in this study, the secondary
data was obtained from printed media, electronic, and internet regarding Islamic production pattern,
supporting data from various journals, and books relevant to research. The results of the research showed
that the increase in the price of basic commodities had an impact on the behavior of the production of
Muslim restaurants in Baureno. The increase in the prices of basic commodities made the restaurant
industry doers in Baureno sub district change the prices and quantity of the menus in their restaurants.
Such price increases are apparently still within reasonable limits and in accordance with the principles
of Islamic economic production, taking profits fairly and not harming customers. Muslim restaurant
manufacturers as a whole have made production in Islamic way.
Keywords: Islamic Production Behaviour, Price Increasing in Basic Commodities
Book of Abstract 2nd ICIEBP | 29
THE INFLUENCE OF QUALITY OF ISLAMIC SERVICE AND INSTITUTION IMAGE TO
DONOR TRUST AT NATIONAL AMIL ZAKAT INSTITUTE (LAZNAS) 1Sri Herianingrum, 2Reza Reftrian, 3Achsania Hendratmi
1,3Faculty of Economic and Bussiness Universitas Airlangga 2Postgraduate School Universitas Airlangga
Abstract
Zakat Institution (LAZ) is a religious social institution that plays a role in collecting zakat, infaq, alms
and waqf (ZISWAF) from muzakki/donors which then distributing in the form of empowerment
program addressed to mustahik which is classified asnaf. To increase ZISWAF fund raising, a
managerial strategy that is directly related to LAZ services to donors is required. Providing good service
quality and enhancing the institution image both in the eyes of donors and the community is an effort to
increase ZISWAF fund raising. Good service quality will have an effect on increasing the satisfaction
and trust of donors and institution’s image which is the main attraction for donors or the society which
if run well will have implications on the satisfaction of donors and their trust. The results of this study
indicate that the Islamic service quality significantly influence the satisfaction of donors, the Islamic
service quality does not significantly influence the donor trust, the institution image does not
significantly influence the satisfaction of donors, the institution image not significantly influence the
donor trust and donor satisfaction significantly donor wealth. Limitations in this study is the scope of
the research area is less extensive.
Keywords: Quality of Islamic Service, Institution Image,Satisfaction,Donor Trust, Intervening Variable
ISLAMIC FAIRNESS CONCEPT IMPLEMENTATION IN BUSINESS PERSPECTIVE OF
AZ-ZAITUN I SURABAYA SHARIA MARKET TRADE
Dandi Setiabakti, R. Mohammad Qudsi Fauzi
Department of Islamic Economics, Faculty of Economics and Business, Universitas Airlangga
Abstract
The aim of this research was to describe the implementation of the concept of Islamic fairness in business
by traders of the Az-Zaitun I Surabaya Sharia Market. This research uses qualitative approach with a
descriptive case study strategy. The primary data obtained using purposive sampling through interviews.
Participatory observation also conducted to the traders. Secondary data are 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 the fair concept according to the three meanings of fairness, namely
equal, proportional, and divine orientation. The conclusion is, even though it doesnt 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
Book of Abstract 2nd ICIEBP | 30
CRS IMPLEMENTATION FROM WESTERN TO THE ISLAMIC PERSPECTIVE:
MAQASID AL-SHARIAH AND MASLAHAH
Siti Zubaidah, Mudrifah
Department of Accounting, University of Muhammadiyah Malang
Abstract
Corporate social responsibility (CSR) perspectives is a framework for the role of business in society
which has emerged and developed rapidly as a field of study. It sets standards of behavior to which a
company must subscribe in order to impact society in a positive and productive manner while abiding
by values that exclude seeking profit at any cost. CSR initiative remains open to wide criticism for its
inherent problems and justification, conceptual clarity, and possible inconsistency. Problems are more
acute when it comes to implementing and operationalizing CSR on the ground, especially in a situation
involves trade-off. This paper offers an instructive understanding of CSR from an Islamic perspective.
In particular, the implication of maqasid al-Shari`ah (the Shari`ah’s objectives) and the application of
maslahah (the public good) to CSR are discussed to shed light on how Islam’s perception of CSR take
into consideration of the reality and ever-changing circumstances.
Keywords: Maqasid al-Shariah, Maslahah, Islamic CSR
RELATIONSHIP BETWEEN ENTREPRENEURIAL CHARACTERISTICS FROM ISLAMIC
PERSPECTIVE AND THE PERFORMANCE OF SMALL AND MEDIUM-SIZED
BUSINESSES (A STUDY OF SMES IN INDONESIA)
Dini Lisnawati, Eeng Ahman
Universitas Pendidikan Indonesia
Abstract
This study aims to analyze the relationship between entrepreneurial characteristics from Islamic
perspective and the performance of SMEs of Muslim entrepreneurs in Indonesia. Factors suspected of
affecting entrepreneurial characteristics from Islamic perspective are fathanah (wisdom), amanah
(trustworthy), siddiq (truthfulness) and tabligh (advocacy). The study method used an explanatory
survey with data collection techniques with technical questionnaires and interviews to 50 fashion
muslim entrepreneurs in Bandung-West Java. The collected data is analyzed by using SPSS. The result
from the study shows that Entrepreneurial characteristic from Islamic perspective has relationship with
the performance of SMEs. This finding implies that in order to improve the performance of SMEs
especally for Muslim entrepreneurs must be empowered their self to have the strong motivation to excel
their potentials sources based on the Islamic teaching in Quran and Sunnah.
Keywords: Entrepreneurial characteristic, Islamic entrepreneurship, Performance of SMEs, Fashion
Book of Abstract 2nd ICIEBP | 31
INTEREST IN ISLAMICPRENEUR: FAMILY ENVIRONMENT FACTORS AND
RELIGIOSITY ANALYSIS THE RESEARCH OF ISLAMIC ECONOMICS STUDENTS AT
UNIVERSITY IN BANDUNG
Elmi Akmalianis, A. Jajang W. Mahri, Juliana, Dudi Septiadi
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
Entrepreneurship is one of the occupation that has a noble in the view of Islam. In addition,
Entrepreneurship is also has an important role for the welfore of a state. Howover, the entrepreneurship
ratio in Indonesia is still in low rate compared to another countries. For the reason, this research will
discuss student’s interest toward Islamicpreneur. It is because students’ interest in islamicpreneur is the
source for the birth of Islamic entrepreneurs in the future. Based on the previous research,
entrepreneurial interest is influenced by among others, family enviroment and religiousity level.
Therefore this research aims to analyze and predict the influence of family enviroment and religiousity
toward students interests in islamicpreneur. The population of this research is the student of Islamic
economics at university in Bandung. The study use non-probability-accidental sampling as sampling
technique with 280 people as the subjects of the research. Then the research was using causality method
with quantitative approach. The data was analyzed using Partial Least Squares-Structural Equation
Modeling (PLS-SEM). The results showed that the family environment has a positive and significant
effect on the interest of Islamicpreneur, while the level of religiosity does not affect the interest of
Islamic scholars. This research is expected to be able to provide benefits to various parties in increasing
the interest of Islamic scholarship in students, especially Islamic economics students at University in
Bandung.
Keywords: Family Enviroment, Religiosity, Student Interest in Islamicpreneur
Book of Abstract 2nd ICIEBP | 32
MARKETING MIX 7PS IN ISLAMIC PERSPECTIVE
Rizky Febriansyah
Program Studi Manajemen Bisnis, Sekolah Pascasarjana, Universitas Pendidikan Indonesia
Abstract
There are so many strategic concepts in business that are offered. Islam views trade as an important
factor in human life as long as the process is in line with Islamic teachings relating to business behavior.
Specifically, Allah SWT destined the Prophet Muhammad to be a successful entrepreneur before his
prophetic life. Because Islam is a way of life, the marketing code of ethics must be guided by the Quran
and Hadith, the two main references that Muslims obey to succeed in life and the hereafter. Until now,
the term marketing and the existence of Islam and its acceptance is still a widely debated issue among
academics, students, practitioners and consumers, especially in non-Islamic countries. Because there are
arguments from experts that Islamic marketing is important in contemporary commercial activities, the
7P concept in marketing must be combined with Islamic principles. The 7P concept was chosen because
of its wide acceptance as the main pillar of marketing. Therefore, the purpose of this paper is to develop
an understanding of 7P based on Islamic and contemporary marketing perspectives, which explains how
the marketing mix in the perspective of Islam, which in practice must be in accordance with the rules in
force in muamalah, this regulation does not harm consumers and producers. A thorough discussion
related to the issues mentioned will provide an in-depth understanding of each of the 7Ps elements.
Keywords: Islamic Marketing, Marketing Mix7Ps
Book of Abstract 2nd ICIEBP | 33
BUSINESS MODEL AND ISLAMIC BOARDING SCHOOL BUSINESS DEVELOPMENT
STRATEGY (CASE STUDY ISLAMIC BOARDING SCHOOL SIDO GIRI PASURUAN,
EAST JAVA)
Irham Zaki, Imron Mawardi, Tika Widiastuti, Achsania Hendratmi, Risanda A. Budiantoro
Airlangga University
Abstract
Islamic Boarding School is Islamic school that most of students are boarders. In the last 20 years, when
the Islamic economy developed in Indonesia, many pesantren established financial institutions and
businesses that comply to Islamic law. The existence of the business and financial institutions (business
network) were expected to encourage the implementation of Islamic law on economics and business in
society, and also able to carry out economic and business practices according to sharia. This study will
examine the existence of business network model and what are the benefits of business network model
for the While in the era of colonialism adjustment occurs through the transformation of values where
the pesantren acts as an Islamic institution or institutionalization of Islamic values that have a mission
oriented ideology political or religious political. Where the motivation is to seize independence and
liberate the people from the shackles of penghisaban by the invaders (Malik, 2008). For now the
existence of pesantren is more related to learning process and education. In other words, pesantren is a
religious education institution capable of issuing certificates recognized in the national education system
in Indonesia. This can be regarded as a pesantren negotiation of new values that develop in society as a
result of the advancement of science, knowledge, and technology (Asrohah, 2002). sustainability of
business unit. The renewal of this research illustrates the business model practiced by pesantren cottages
especially PP Sidogiri as a whole and formulates the right business development strategy for business
unit PP Sidogiri in order to maximize the role and social function of the islamic boarding school business
unit. This research uses case study method on mixed pesantren especially on Sidogiri Islamic Boarding
School. The results of research to find out the ideal strategy in the implementation of business network
as the development of a business model strategy of Islamic boarding schools in order to develop Islamic
boarding schools business.
Keywords: Business Model, Strategy, Islamic Boarding School
Book of Abstract 2nd ICIEBP | 34
CHAPTER 4: ISLAMIC PHILANTROPHY
HOW NONPROFIT ORGANISATION DELIVERS ONLINE ACCOUNTABILITY
THROUGH SOCIAL MEDIA?
Seyla Rizky Amelia, Miranti Kartika Dewi
Department of Accounting, Faculty of Economics and Business, Universitas Indonesia
Abstract
This study aims to observe the use of social media and its benefit as tools in delivering online
accountability in nonprofit organizations (NPO). It takes a case study approach in an Indonesian
humanitarian NPO by applying the qualitative method with document analysis and semi-structured
interviews which are analyzed using thematic analysis. The results of this study show how the case
organization uses four types of social media in delivering performance accountability and focuses on
using one Twitter in discharging its financial accountability.
Keywords: Online Accountability, Social Media, Non-Profit Organization
A PROFILE ANALYSIS OF POTENTIAL INVESTORS IN iREIT WAQF INVESTMENT
PRODUCTS
Nor Azizan Che Embi, RoslilyRamlee, Salina Kassim
Economics and Management Sciences, International Islamic University Malaysia
Abstract
The objective of this study is to provide a profile analysis of potential investors in iREIT as an instrument
for waqf asset development. By adopting a survey questionnaire approach, a total of 365 respondents
participated in the survey, which assessed information pertaining to the understanding of iREIT as an
investment instrument, level of acceptance towards the idea of its introduction in the context of waqf,
the medium of promotion and collection that they most prefer, the suitable price, and the unique features
that they agreed to have in this hybrid iREIT. The results suggest that majority of the respondents are
interested to participate as investors rather than donors, indicating that greater amount of funds can be
tapped from the issuance of the iREITs waqf if these preferences of the investors are given priority.
Findings of this study would assist in the formulation of an innovative investment structure based on
iREIT waqf that is both practical and appealing to the widest pool of investors, and further contribute
towards the development of the waqf sector.
Keywords: Waqf, iREITs, investment, profiling, Islamic finance
Book of Abstract 2nd ICIEBP | 35
CREDIBLE METHODS FOR EVALUATING THE IMPACTS OF LAZ PROGRAMS
Muhamad Said Fathurrohman
Universitas Airlangga
Abstract
Existing studies on the impacts of amil programs are still rare and potentially contain bias in their impact
estimates. This paper explains the selection problem common to simple difference method employed by
these studies. Then this paper introduces two evaluation designs, difference-in-differences and
randomized experiment, that can more credibly estimate program impacts, and still simple enough to be
independently conducted by amil institutions.
Keywords: impact evaluation, zakat, amil
REGULATIONS AND MANAGEMENT OF WAQF INSTITUTIONS IN INDONESIA AND
SINGAPORE: A COMPARATIVE STUDY 1Risa Sari Pertiwi, 2Muhammad Nafik Hadi Ryandono, 3Khofidlotur Rofiah, 4Anita
1,3Master Programme of Science in Islamic Economics, School of Postgraduate, Airlangga University 2Department Shariah Economics, Airlangga University
4Master Programme of Law, Airlangga University
Abstract
Waqf is an Islamic philanthrophy instrument that can be used as a source of funds for Muslims.
Indonesia as a country that has the largest Muslim population in the world, but in practice the realization
of the optimization of the potential and utilization of waqf funds in Indonesia is still low, while
Singapore which is a minority Muslim is able to utilize waqf funds optimally and productively. The
priority of regulatory issues is less supportive, because regulation is the basis or legal basis for the
management of waqf. The purpose of this research is to compare the regulation and management of
waqf management in Indonesia and Singapore, so that the implications of this research result can be
used as input for the development of waqf management in Indonesia. The research method used is
descriptive qualitative approach and a statute approach. The results of this research is waqf regulation
in Indonesia contained in Law No. 41 of 2004 and Government Regulation Number 42 of 2006 as
implementing regulations. Waqf regulations in Singapore are found in the Administration of Muslim
Law Act (AMLA) in the Act. No. 27 of 1966. Most of the management of waqf in Indonesia is still on
the property of waqf not moving like land, but in its development Indonesia is developing waqf of
movable property (cash waqf). The management in the development of productive waqf in Singapore
uses istibdal method which is applied in various forms to make waqf assets have high value and are
productive.
Keywords: Waqf, Regulation, Management
Book of Abstract 2nd ICIEBP | 36
THE EFFICIENCY OF ZAKAT INSTITUTIONS IN INDONESIA IN 2012-2016
Suhail, Faqih Adam, A. Jajang W. Mahri
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
This study aims to determine the level of efficiency of the zakat institutions for the period 2012-2016
and find out the causes of its inefficiencies. This study uses financial report from five zakat institutions
that are sampled, namely BAZNAS, Rumah Zakat, Dompet Dhuafa, PKPU, and Rumah Yatim. The
research method used is descriptive method with data envelopment analysis (DEA) technique. Based on
the results of research conducted it is known that in the period 2012-2016, zakat institutions conditions
in indonesia were not yet fully efficient. There are four zakat institutions that experience efficiency, and
there are 4 efficient zakat institutionss from 23 zakat institutions in general from 2012-2016, namely
Rumah Zakat 2015, 2016 and also PKPU in 2012, 2016, the rest are 15 zakat institutions which are not
yet fully efficient. The cause of the inefficiency in the zakat institutions was mainly due to the high
operational costs incurred and the still low receipt of zakat funds obtained and the distribution of zakat
funds were only used for the short term.
Keywords: Efficiency, Zakat Institution, Data Envelopment Analysis
ZAKAT COMPLIANCE BEHAVIOUR: GOOD CORPORATE GOVERNANCE WITH
MUZAKKIS TRUST APPROACH (SURVEY ON MUZAKKI OF THE NATIONAL BOARD
OF ZAKAT (BAZNAS) IN GARUT)
Nafillan Arofata Tsalas, A. Jajang W.Mahri, Rida Rosida
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
Zakat is obligation for every muslim which should be done. Beside the religious orders, zakat is also
very influential for regional economic growth, especially the wealth distribution from each capable
individual to unable. In Indonesia, the discrepancy between the potential and realization of zakat funds
still being a phenomenon that must be resolved. One of the reasons why there is an imbalance between
the potential and realization of zakat funds is because of the disobedience of muzakki in paying zakat.
This research identifies the effect of good corporate governance implementation in zakat institutions on
zakat paying compliance through muzakkis trust in as a mediating variable. The number of samples used
was as much as 100 muzakki spread in several service offices in Garut. The sample was selected using
purposive sampling method with quota sampling technique. This study uses path analysis to identify
good corporate governance in zakat institutions towards zakat paying compliance through muzakkis
trust as a mediating variable by causality method. The results showed that Good corporate governance
and muzakkis trust in that zakat institutions were in the high category and muzakkis zakat paying in a
high compliance too.
Keywords: Zakat, Compliance, Trust, Governance
Book of Abstract 2nd ICIEBP | 37
IMPLEMENTATION OF ZAKAT VILLAGE INDEX (SURVEY IN BINANGUN VILLAGE,
PATARUMAN SUB DISTRICT, BANJAR CITY)
Fitriyani Nurul Hakim, A. Jajang W. Mahri, Aas Nurasyiah
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
This research is based on the problem of less precisely the target and empowerment programs conducted
by zakat management institutions both LAZ and BAZ. This study aims to build a conceptual model to
describe and measure the condition of a village in order to be eligible to be empowered as a zakat village
using the Zakat Village Index (IDZ). This study uses primary data and secondary data from village side
and by interview through village apparatus and direct observation to the field by visiting RT and RW so
the research is a descriptive quantitative research. There are five variables measured in this study, they
are economic, health, education, social humanitarian and dawah variables. The research was conducted
in Binangun Village, Pataruman Sub District, Banjar City. The calculation result of Zakat Village Index
(IDZ) indicates that Binangun Village is included in good condition and can be considered to be
empowered using zakat fund. Variables that have the lowest IDZ value are economic and health
variables. For the zakat institution that will empower the Binangun Village, can be more focused on the
two variables. Then for zakat management institution should use Zakat Village Index instrument (IDZ)
to determine the target of the program and to know the requirement of society exactly so that program
of channeling of zakat fund can be done effectively and efficiently.
Keywords: Community welfare, empowerment, Zakat Village Index
THE EFFICIENCY MEASUREMENT OF NATIONAL BOARD OF ZAKAT IN WEST JAVA
Aas Nurasyiah, Rida Rosida, Firmansyah
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
This study aims to determine and measure the efficiency of BAZNAS regency/city in West Java. The
method used in this study is descriptive-comparative. The population of this study is BAZNAS
regency/city in West Java province with a total sample of eleven regency/city in West Java during nine
year (2010-2018) period. The data was analyzed using Data Envelopment Analysis (DEA). The results
indicated that there are 3 Decision Making Unit (DMU) that are efficient (100%) and inefficiency as
much as 53 Decision Making Unit (DMU). Bekasi City and Kuningan Regency are two zakat institutions
that are capable of achieving full efficiency. This means that the majority of Baznas regency/city in
West Java still have not achieved efficiency. Insights from this research to improve the efficiency of
zakat institutions, it must increase the input (zakat collection) and the operational professionalism of
zakat institutions.
Keywords: Efficiency, National Board of Zakat, Data Envelopment Analysis
Book of Abstract 2nd ICIEBP | 38
CHAPTER 5: ISLAMIC MICROFINANCE
DETERMINANTS FACTORS OF NON-PERFORMING FINANCING IN ISLAMIC
MICROFINANCE INSTITUTION
Hayu Maulida, Bayu Arie Fianto
Universitas Airlangga
Abstract
This paper investigates the influence of aspects including socio-economics, geography, and financing
characteristics for non-performing financing using logistic regression models. The data used in this
study are secondary data obtained from the Islamic cooperative XYZ in Sidoarjo. The results showed
that age, sex, type of work, and type of contract had influenced the non-performing financing of Islamic
microfinance institution in Indonesia.
Keywords: Socio-Economic, Geographical Aspects, Characteristics of Financing, NonPerforming
Financing, Logistic Regression
SHARIA COMPLIANCE: CASE STUDY ON MURABAHAH PRODUCTS BMT ITQAN
Juliana Juliana, Feby Syahril Qudsi, Disman Disman
Department of Islamic Economics and Finance, Universitas Pendidikan Indonesia
Abstract
This research aims to gain an overview of the empirical basis and proce how murabahah contarct
implementation and perception of the members against the sharia compliance murabahah product in
BMT ItQan. This research is distributed by many Islamic financial institution whose products have not
completely obeyed his murabaha against sharia compliance i.e. hasn’t submissive towards Al-Quran,
Hadith and fatwa of DSN-MUI. The research method used that is quantitative descriptive technique of
collecting data through questionnaires and interviews. The population in this research is a member of
BMT ItQan totalling 887 members with samples as much as 89 respondents and the object of this
research is sharia compliance on murabaha product. Technique of data analysis used i.e. univariate
methods of analysis (percentage score). Research findings show that: (1) the BMT ItQan in product
implementation the murabahah is included in the good category, though there are some points that are
still less of them, BMT ItQan yet convey all matters relating to the purchase and have not explained the
object of sale and purchase; and (2) the perception of members against the sharia compliance products
murabaha on BMT ItQan is in the good category, though there are some indicators that is less i.e. goods
murabaha belongs to BMT ItQan as well as objects that are supplied does not exist when signing the
contract.
Keywords: Sharia compliance, murabaha, fatwa of DSN-MUI
Book of Abstract 2nd ICIEBP | 39
ECONOMIC EMPOWERMENT FOR POOR WOMEN USING GRAMEEN BANK MODEL
IN INDONESIA
Siti Inayatul Faizah, Uus Ahmad Husaeni
Universitas Airlangga
Universitas Suryakancana
Abstract
This research aimed at analysing the contribution of Islamic Microfinance which used Grameen Bank
model to the economic empowerment and poverty alleviation in Cianjur Regency. This research used
quantitative approach. Primary data were collected using questionnaires. While the secondary data were
derived from the annual report of the cooperative, Central Bureau of Statistics of Cianjur, journals and
other related literature. The sampling technique used was purposive sampling. The number of samples
used was 100 female poor respondents from all female members of Cooperative Dhuafa Mitra in 2017,
at Mande branch office, Cianjur Regency. The analytical technique used was Spearman correlation, and
KruskalWallis free sample test. This research concluded that Islamic Microfinance using Grameen Bank
model had positive contribution to economic empowerment of poor women. Financial capital and social
capital were the keys to success in empowering the poor community. Islamic microfinance using
Grameen model also had a significant relationship with poverty alleviation. This article also proved that
poverty could be overcome if economic development is run based on human development. The results
of this study strengthen the conclusions of Nasim Shah Shirazi and Aman Ullah Khan (2009), Rajesh
Kumar Shastri (2009), Muhammad Yunus (2008), Jahangir Alam Chowdhury (2008), Mohammad
Anwarul Kabir, Suman Dey and Mohammad Shamsal Islam (2012) Sadegh Bakhtiari (2006), as well as
Musa bin Mansour and Tawfiq Brahm Chaouch (2013) who stated that microloans are able to create
self-employment opportunities and have an impact on rural poverty reduction and unemployment. The
results of this study are different from the conclusions of JUJ Onwumere (2012), Anis Chowdhury
(2009), Dan Matovu (2006) and Katsushi S. Imai (2010) which stated that microfinance just increases
human capital, creates black spots and negatively impacts Women empowerment.
Keywords: Grameen Bank, Poverty, Economic Empowerment, Spearman correlation, and Kruskal-
Wallis.
DOES SOCIO DEMOGRAPHIC VARIABLES MATTER IN EXPLAINING ISSUES AND
CHALLENGES IN ISLAMIC MICROFINANCE? EVIDENCE FROM MALAYSIA
Marhanum Che Mohd Salleh, Salina Kassim, Siti Nadhirah Kassim
International Islamic University Malaysia
Abstract
Purpose In line with the wide acceptance of the microfinance industry globally, Islamic microfinance
has also evolved rapidly in the past years to cater for the demand for Shariah compliant microfinancing
schemes. Despite this, the industry is facing various issues and challenges from both the clients and
microfinance institutions. This study aims to identify the issues and challenges faced by different
demographic background of microentrepreneurs receiving Islamic microfinancing from Amanah Ikhtiar
Malaysia (AIM).
Keywords: Islamic Microfinance, Socio-demography, Islamic Finance, Amanah Ikhtiar Malaysia
Book of Abstract 2nd ICIEBP | 40
CHAPTER 6: MANAGEMENT AND LEADERSHIP
CORPORATE SCIENCE AND FIRM VALUE: MODERATING ROLE OF BOARD
QUALITY
Gilang Puspita, Isnalita
Faculty of Economics and Business, Airlangga University
Abstract
Indonesia faces the challenge of competing in a free market under the name of the ASEAN Economic
Community (AEC). With the enactment of the AEC, Indonesian companies face challenges to maintain
their domestic market share and expand their overseas markets on SEA. To win the global competition,
the company is strived to be able to build synergy with all existing stakeholders, so as to be able to read
opportunities in seizing existing market opportunities. The effort to win that competition, a company
must make some innovation. Innovation by the company can run well if the company is able to improve
the corporate science. Corporate science will provide insight for companies to improve their ability to
read the opportunities and be able to create efficiency in operating activities. The ability to read market
opportunities and increase efficiency will make it easier for companies to increase company value.
Corporate science will have a better impact when the company has a good quality management.
Management quality will be able to read the opportunities and be able to implement all corporate science
that is owned by the company so that it will have a higher effect on increasing the value of the company.
Keywords: Corporate Science, Firm Value, Board Quality
DETERMINANT OF ETHICAL ORIENTATION IN COLLEGE STUDENTS (CASE STUDY
ON STAR STUDENTS OF FINANCIAL AND DEVELOPMENT SUPERVISORY BOARD OF
AIRLANGGA UNIVERSITY)
Feriska Oktaviana Putri, Erina Sudaryati
Faculty of Economics and Business, Airlangga University
Abstract
This study was conducted with a questionnaire distribution model. Populations in this study are STAR
students of Financial and Development Supervisory Board of Airlangga University Surabaya. The
samples in this study are 47 students. Hypothesis testing performed using Partial Least Square test with
the help of smart PLS version 3.0 software. The result of this study found that religiosity has a positive
influence on ethical orientation, but it was not proven significantly with p-values of 0.598 > 0.05.
Professional commitment variable has a positive influence on the ethical orientation, but not proved
significant with p-values of 0.140> 0.05. The locus of control variable has a positive influence on ethical
orientation, but it was not proven significant with p-values of 0.840 > 0.05. While variable of cognitive
moral development has a positive influence and proved significant with p-values 0.008 < 0.05.
Keywords: Religiosity, Professional Commitment, Locus of Control, Cognitive Moral Development,
Ethical Orientation
Book of Abstract 2nd ICIEBP | 41
IMPULSE BUYING: THE EFFECT OF PRICE FAIRNESS, IN STORE PROMOTION,
MERCHANDISE AND TIME AVAILABILITY
H Haryanto, W Wiyono, Dwi Hastjarja KB
Management Department of Faculty of Economic and Business of Universitas Sebelas Maret
Abstract
Impulse buying is unplanned purchases but have a significant impact on retail sales. This study examines
the effect of price fairness, in store promotion and merchandise on impulse buying behavior. Research
respondents were taken purposively with the criteria of members of the population who had made
impulse buying. The population of this study is citizen of Surakarta who became consumers of the
national mini retail chain. Data collection using questionnaires that have passed the validity and
reliability test, while data analysis uses PLS SEM. The result of the study shows that Price Fairness, In
Store Promotion, and Merchandise variables influence impulse buying behavior, with a T statistic score
of 2,047; 2,537; and 2,104 respectively. The score is above the cut-off required for the 5% significance
level, which is a statistical T value of more than or equal to 1.96. Furthermore, the time availability
variable is not a moderating variable.
Keywords: Impulse Buying, Price Fairness, In Store Promotion, Merchandise, Time Availability, Retail
THE EFFECT OF TAX PLANNING, ASSET OF DEFERRED TAX, DFERRED TAX
EXPENSE ON PROFIT MANAGEMENT (CASE STUDY OF MANUFACTURING
COMPANIES LISTED ON THE STOCK EXCHANGE 2013-2017 PERIOD)
Srie Nuning Mulatsih, Nela Dharmayanti, Aisyah Ratnasari
Universitas Islam Syekh-Yusuf
Abstract
The purpose of this research is to know the effect of tax planning, deferred tax asset, and deferred tax
expense on earnings management of manufacturing companies listed in Indonesia Stock Exchange
(IDX) period 2013 to 2017. The sampling technique used in this study is purposive sampling. Data
analysis method used in this research is logistic regression analysis. The results of this study indicate
that simultaneous tax planning, deferred tax assets, and deferred tax expense do not have a significant
effect on earnings management. Partially tax planning has a significant positive effect on earnings
management. Deferred tax assets and deferred tax expense partially have no significant effect on
earnings management.
Keywords: Impulse Buying, Price Fairness, In Store Promotion, Merchandise, Time Availability, Retail
Tax Planning, Deferred Tax Assets, Deferred Tax Expense, Profit Management
Book of Abstract 2nd ICIEBP | 42
AN ANALYSIS ON MANAGEMENT INFORMATION SYSTEMS OF LIBRARY AT SMK
MUHAMMADIYAH 2 MALANG
Sri Nastiti Andharini,Novi Puji Lestari,Novita Ratna Satiti,Kenny Roz
Universitas Muhammadiyah Malang
Abstract
The management information system is considered as a computer-based system to provide information
needs for the users. The information explains the working patterns of the company in the past, present,
and future events. This study aims at analyzing the problems found in the library at SMK
Muhammadiyah 2 Malang with various departments inside, such as Multimedia, Accounting, Office
Administration, and Computer Application. This study was a result of a case study with secondary data
collection.
Keywords: Information System, Library, Vocational School
THE IMPACT OF ISLAMIC VALUES IMPLEMENTATION ON ORGANIZATIONAL
COMMITMENTS TO HUMAN RESOURCES MANAGEMENT PRACTICES AT
UNIVERSITY OF MUHAMMADIYAH MALANG
Nazaruddin Malik, Sri Budi Cantika Yuli, Sudarti
Faculty of Economic and Business University of Muhammadiyah Malang
Abstract
This study aimed to discover the impact of Islamic values implementation on organizational
commitment to the practice of Human Resource Management (HRM) at University of Muhammadiyah
Malang (UMM). Islamic values are established on the principles of Islamic wisdoms, namely the faith,
sharia and morality. Organizational commitment as a practice of employee behavior towards the
organization comprises loyalty and achievement of the vision, mission, values and organization goals.
Organizational commitment includes affective commitment, continuance commitment, and normative
commitment. This study employed a qualitative approach and was conducted at University of
Muhammadiyah Malang (UMM). The subjects of this study were the employees of UMM. The type of
data used were primary and secondary data which were obtained through interviews, observation and
documentation. Subsequently, the entire data were analyzed by applying qualitative descriptive
technique. The results revealed that the implementation of Islamic values had an impact on the
organizational commitment primarily to the practice of Human Resource Management for employees at
UMM. HRM practices include the employee recruitment processes which requires prospective
employees to have strong and trustworthy personality (Surah An Nahl verse 78; Al Qashash verse 26;
Al Anfaal verse 27), the employee selection process that looking for candidates who meet the essential
requirements of honest, strong, and knowledgeable (Surah Al Baqarah verses 249-250; Al Anfaal verse
60), employees training and career development (Surah Al Baqarah: 30), performance appraisal (Surah
Al Kahf: 87-88), and compensation (Surah Al A Raaf: 85).
Keywords: Islamic Values, HRM Practice, Organizational Commitment
Book of Abstract 2nd ICIEBP | 43
HOW ORGANIZATION ETHICAL VALUE AND ETHICAL LEADERSHIP INFLUENCE
ON RELIGIOUS COMMITMENT? A STUDY ON SHARIA BANKS IN INDONESIA
Titiek Ambarwati, Fika Fitriasari, R. Iqbal Robbie, Ardik Praharjo
Department of Management, Faculty of Economic and Business,
Universitas Muhammadiyah Malang
Abstract
The purposes of this study are to examine the influence of the organization ethical values on ethical
leadership and organizational commitment, the influence of ethical leadership on organizational
commitment and religiosity as a moderating variable on the relationship between ethical leadership and
organizational commitment which are carried out on Islamic banks in Pasuruan and Probolinggo,
Indonesia. This study uses a quantitative approach with the employees of state-owned and private
Islamic banks in Pasuruan and Probolinggo as the population. The total of 109 respondents was used in
this study. PLS is used to analyze the data collected. The results of this study show that the organization
ethical value has a significant influence on ethical leadership, ethical leadership has a significant
influence on organizational commitment and the effect of religiosity as moderating variable is also able
to moderate the interaction between ethical leadership and organizational commitment, however, there
is no significant effect between the organization ethical value on commitment. This study contributes to
the company that religiosity as moderation can influence organization to improve the relationship
between ethical leadership and organizational commitment.
Keywords: Religiosity, Organization Ethical Value, Ethical Leadership, Commitment
CUSTOMER-BASED BRAND EQUITY IN DIGITAL AGE: A CONSEPTUAL APPROACH
Fahmi Dharmawan, Heni Hendrayati
Universitas Pendidikan Indonesia
Abstract
Although there has been a lot of research done to understand how to create a corporate brand that can
generate profits for the company, there are still few studies that examine how brand equity is created
and measured in the digital era full of internet. This study aims to broaden the conceptual framework
regarding existing consumer-based brand equity by combining several constructs from a cognitive
perspective and also conceptual perspective on brand equity and implementing them in online -based
companies in the current digital era. Method e Spoken in research this is method descriptive, with p
Collecting data used is with use conceptual review that later on reference theory gained will made as
foundation basic in get results research. Results p enelitian put forward that in equity brand based on
consumers in the digital age need to be it is modification of the model from the equity model brand
traditional with add online elements like manufacture dna website enhancement and more emphasize on
trust consumers. Implications from p enelitian This, that must it is attention more big about How
company create ekuistas the brand on companies based online, so brand permanent will become the
main capital companies that can create Great value to company.
Keywords: Brand Equity, Consumer-Based Brand Equity, E-Commerce, Digital Era
Book of Abstract 2nd ICIEBP | 44
DETERMINANTS OF CUSTOMER LOYALTY FOR MOSLEM FASHION: A STUDY THE
LARGEST MOSLEM POPULATION (INDONESIA)
Afifah Nur Millatina, Naily Rohmah, Irham Zaki
Postgraduate School Airlangga University
Abstract
The development of the fashion world experienced a significant increase in the last few decades.
Indonesia has a huge opportunity in the Muslim fashion sector when compared to other countries,
because the majority of the population is Muslim. The Indonesian government realizes that even
Indonesia is proclaimed to be a benchmark for world Muslim fashion in 2020. This is very possible
considering the Muslim fashion industry in Indonesia has experienced growth since the 1990s based on
data from the Organization of theIslamic Conference (OIC). One of the biggest brand s in Indonesia is
HijUp. This aims to analyze the effectof brand images and online promotion strategy on customer
satisfaction &loyalty. The analysis technique used is quantitative approach. The sample in this study
were 100 HijUp respondents, using the Maximum Likehood (ML) estimati on method. This research
uses Structural Equation Modeling (SEM) method with LISREL 8.72 measuring instrument. The results
of this study indicate the positive influence of brand image on customer satisfaction and customer
loyalty. Furthermore, there is a positive influence of online promotion strategies on customer
satisfaction, but there is a negative influence on customer loyalty. Furthermore, there is a positive
influence between customer satisfaction and customer loyalty.
Keywords: Brand Image, Online Promotion Strategy, Customer Satisfaction, Customer Loyalty,
Fashion Muslim
THE INFLUENCE OF HUMAN CAPITAL ON COMPANY PERFORMANCE WITH
CONSUMER CAPITAL AS AN INTERVENING VARIABLE
Amanda Rizca Aprillianti, Erina Sudaryati
Faculty of Economics and Business, Airlangga University
Abstract
The purpose of this study is to examine the influence of human capital and company performance with
consumer capital as an intervening variable. Due to inconsistency in previous research, more study is
needed using different model and object from previous research. The populations in this study were
banking companies listed on the Indonesia Stock Exchange in 2011-2014. The data used for this study
were secondary data from the annual report of banking companies. From the 33 banking companies,
only 23 meet criteria. The hypothesis of this study was tested using PLS technique with smart PLS 3.0
software. The statistical test conducted showed that human capital has positive and insignificant
influence on consumer capital, consumer capital has positive and significant influence on company
performance, human capital has positive and significant influence on company performance directly,
and human capital has positive and significant influence on company performance through consumer
capital as an intervening variable.
Keywords: Human Capital, Consumer Capital, Company Performance
Book of Abstract 2nd ICIEBP | 45
THE INFLUENCE OF HUMAN RESOURCE QUALITY, ORGANIZATIONAL
COMMITMENT, AND SUPPORTING DEVICE TO THE IMPLEMENTATION OF
ACCRUAL BASIS WITH REGULATION OF HOME AFFAIRS MINISTER
(PERMENDAGRI) UNDERSTANDING NO. 64 YEAR 2013 AS AN INTERVENING
VARIABLE
Selly Ika Setyawuri, Erina Sudaryati
Faculty of Economics and Bussiness, Airlangga University, Surabaya
Abstract
This study aims to find out the influence of human resource quality, organizational commitment, and
supporting device to the implementation of accrual basis by using an intervening variable that is
regulation of home affairs minister (permendagri) understanding. This study is expected to give
information about the importance of accrual-based Government Accounting Standards implementation
and to know factors that may influence the implementation of accrual basis for future improvements.
The objects of this study were financial officers located in Regional Work Unit (SKPD) of Mojokerto
District. Data collection of this study was used questionnaire instrument. Determination of sample used
purposive sampling technique. Total respondents were 94 people. The data collected then processed
used Smart PLS 3.0 application. The results showed that human resource quality has no significant
influence on the implementation of accrual basis; organizational commitment, supporting device, and
permendagri understanding have a positive significant influence on the implementation of accrual basis;
permendagri understanding can be used as an intervening variable in the relationship of human resource
quality and organizational commitment to the implementation of accrual basis, and also showed that
permendagri understanding cannot be used as an intervening variable in the relationship of supporting
device to the implementation of accrual basis.
Keywords: Human Resource Quality, Organizational Commitment, Supporting Device, Permendagri
Understanding, Implementation of Accrual Basis
Book of Abstract 2nd ICIEBP | 46
THE INFLUENCE OF VIRAL MARKETING AND PRICE DISCOUNTS THROUGH
SOCIAL MEDIA INSTAGRAM TO PURCHASE DECISION ON MARKETPLACE SHOPEE
Teguh Maulana, Gugyh Susandy
STIESA Subang
Abstract
The rapidly evolving communications, media and informatics technologies and the widespread
development of the global information infrastructure have influenced the ways and patterns of business
activities in the trade, social and political governance industries. One of the technologies used by people,
organizations and companies is the internet. With the growing use of the internet in Indonesia is a
potential for business people in Indonesia, where as increasing internet users then this will also
encourage the growth of e-commerce in Indonesia. E-commerce activities in Indonesia penetrate various
activities from small-scale industry to large industries. Small-scale e-commerce activities are now
developing all over Indonesia, because of the availability of various way of kind to transaction online
with ease. Such as marketplace which is a combination of several online stores that sell in one place.
The purpose of this research is to know the influence of Viral Marketing and Discount Price through
social media instagram of Purchase Decision on Shope marketplace. The research method used is
descriptive method and explanatory survey. The sample selection was done by using purposive sampling
technique with the number of samples of 100 respondents. The data used is interval data. Statistical
method for data test using SPSS 22 for windows program. By using multiple linear regression analysis
obtained equation Y = 16.632 + 0,274X1 + 0,219 X2 + e. From the results of the research note that Viral
Marketing partially influence on the Purchase Decision but not for Discounts price, and Viral Marketing
and Price discounts simultaneously affect the Purchase Decision.
Keywords: Viral Marketing, Discount Price, Purchase Decision
Book of Abstract 2nd ICIEBP | 47
THE MEDIATING EFFECTS OF JOB SATISFACTION ON EMPLOYEE LOYALTY: A
CASE STUDY OF A DEVELOPER COMPANY IN MALAYSIA
Zainuddin Zakaria, Mutiiah Mohamad, Md Noh Abd Majid, Nurul Ulfa Abdul Aziz, Kartini Mat
Rashid
Faculty of Business and Management, Universiti Teknologi MARA Terengganu,Dungun,
Malaysia
Abstract
Employees loyalty is being described as the ability of the employee or staff members of the organization
to stay and contribute well in their jobs for such a long term. In the recent years, resignation of employees
did show an increment in many companies in Malaysia. This research specifically study on a developer
company which is one of the constructions developers company in Johor, Malaysia The purpose of this
study is to investigate the factors of training, rewards and benefits and working condition as determinants
toward employee loyalty and how job satisfaction mediate the relationship between independent
variables and dependent variables as the factors that influence the employee loyalty in organizations. A
stratified sampling method was adopted as the sampling method and questionnaires is chosen as the
research instrument adopted previous researcher and adopt it into this research. Respondents of this
research consists of 155 respondents who are employees of the developer company. In general, we
conclude that employee loyalty in the developer company has positive relation between the working
condition, rewards and benefits, training and job satisfaction and confirms the partial mediation of Job
Satisfaction between the independent variables, rewards/benefits and training with employee loyalty.
Keywords: Employee Satisfaction, Employee Loyalty, Working Condition, Training, Malaysia
Book of Abstract 2nd ICIEBP | 48
RECOMMENDATION AND REPURCHASE INTENTION FOR HEALTH SERVICE BASED
ON MEDICAL TOURISM
Ririn Tri Ratnasari, Sedianingsih, Ari Prasetyo, Hendarjatno
Faculty of Economics and Business, Universitas Airlangga
Abstract
The recent trend of many people moving to developing countries to do medical treatment because of the
cost factors offered by various developing countries of quality care at affordable prices, although
traditional patterns still continue. This raises opportunities for patients to use the best world-class health
services offered professionally and experienced, at the most advanced medical facilities in the field of
technology, and at affordable costs (Thilakavathy, 2015). Therefore, this study aims to determine the
determination of the intention to recommend and intention to reuse medical tourism-based health
services. The research method used is quantitative surveys and deepens the results by using in depth
interviews. The sampling technique in this study was non probability sampling, with a purposive
sampling technique. The number of samples in the pre survey and main survey research totaled 440
people. The second stage, conducted a pre survey, namely the distribution of questionnaires to 40
respondents. Then, the third stage was carried out by continuing with a closed-ended structure for 400
respondents consisting of 100 outpatients in hospitals in Surabaya, 100 consumers in Surabaya, and 200
consumers outside Surabaya Indonesia. The results of this study indicate that the quality of medical
services to patients and medical equipment technology have an effect on the intention to recommend
health services and the intention to reuse health services.
Keywords: Recommendation Intention, Repurchase Intention, Health Service Medical Tourism
Book of Abstract 2nd ICIEBP | 49
HALAL FOOD CERTIFICATION TO IMPROVE THE COMPETITIVENESS OF SMALL
AND MEDIUM BUSINESSES IN EAST INDONESIA
Ririn Tri Ratnasari, Sri Gunawan, Sylva Alif Rusmita, Ari Prasetyo
Faculty of Economics and Business, Universitas Airlangga
Abstract
Indonesia is called feasible as a halal tourism center because the majority of its population
is Muslim. As Chookaew stated, the concept of halal tourism is an actualization of the Islamic concept
where halal and haram values are the main benchmark, this means that all aspects of tourism activities
are inseparable from halal certification which must be a reference for every tourism actor (Chookaew et
al., 2015). In tourist attractions SMEs can sell products as Indonesian characteristics, but if coupled with
the concept of halal tourism, the products sold by SMEs must certainly have halal certification. With
the existence of halal certification, of course, it will guarantee that the products sold are suitable for
foreign tourists who are very concerned about halal food or products. In addition there are also Muslim
tourists from non-Muslim countries such as Singapore and France. Kemenparekraf noted that the
number of Muslim tourist visits to Indonesia reached 1,270,437 people per year (Tourism, 2015).
According to Perdani & Chasanah (2018), the construction of a halal guarantee system is very important
because it is to safeguard products whose raw materials are not from Muslim countries. With halal
certification, SME products obtain added value so that they will increase the competitiveness of
Indonesian products in the international world. The purpose of this study is to find out what factors
influence and which factors play the most powerful role in influencing efforts to increase power.
competitiveness of Small and Medium Enterprises in Eastern Indonesia. The research design used in
this study is a qualitative method (by using a qualitative approach to case studies and data mining with
the method of depth interview). The data used in the second (qualitative) approach is one shot, which is
collected through data mining in the form of depth interviews and focus group discussions to key
informants. Informants as many as 12 SMEs and the Department of Industry and Trade as well as MUI
in the local area in Eastern Indonesia (Bali and Lombok). The result is the availability and conditions of
the business environment, business capacity, business performance, policy and infrastructure, research
and technology, and external support. The dominant factor is that policy and infrastructure want to
illustrate the extent to which the implementation of policies and infrastructure in locations around
MSMEs operate can support or hinder businesses to operate. In this case, there are several
measurement indicators, namely the application of legal policies, the application of economic policies,
the application of socio-cultural policies, and the completeness and availability of business supporting
infrastructure.
Keywords: Halal Food Certification, Competitiveness of Small and Medium Enterprises in
Eastern Indonesia
Book of Abstract 2nd ICIEBP | 50
CHAPTER 7: ACCOUNTING
CRITICAL STUDY OF THE PRINCIPLES OF SHARIA THAT APPLIED IN ISLAMIC
ACCOUNTING IN MUDARABA AND MUSYARAKAH
Arim Nasim, Elis Mediawati
Department Accounting, Universitas Pendidikan Indonesia
Abstract
The existence of a Islamic bank in accordance with the Shariah principle has answered some of the
problems of the banking system in accordance with the will of the Muslims. In practice, customer
suspicions and dissatisfaction arise with Islamic Bank who have not fully implemented the Shariah
principles. The application of accounting to Islamic banking is currently still facing constraints caused
by internal and external factors. This study aims to find out the facts whether islamic accounting
principles have been applied in the preparation of financial statements as a basis for profit sharing so as
to realize justice and equity. Research methods used in this study are qualitative with Critical Theory
methods. The study was carried out on the concept of sharia accounting concepts applied by financing
with the scheme of syirkah Mudharabah and Musyarakah . The results of the study show that the
principles of sharia have not been fully included in the accounting principles for recording syirkah
transactions, even the results of the study show that the accounting principles used still use the principles
of capitalist accounting.
Keywords: Syariah Bank, Sharia Accounting, Quality of Financial Statement, Musyarakah,
Mudharabah
AGGRESSIVE FINANCIAL REPORTING, INDEPENDENT BOARD OF COMMISSIONER
AND TAX AGGRESSIVENESS
Anis Chariri, Indira Januarti, Etna Nur Afri Yuyetta, Agustinus Santosa Adi Wibowo
Faculty of Economics and Business, Universitas Diponegoro
Abstract
The relationship of aggressive accounting and tax aggressiveness has been seen as a debatable issue in
accounting literature because the findings are inconclusive, which then call for further studies. This
study aims at investigating the effect of aggressive financial reporting and independent board of
commissioners on tax aggressiveness. Using data from 200 annual reports of companies listed in the
Indonesia Stock Exchanges, as sample, which is then analyzed using a regression model, this study
shows interesting findings. Aggressive financial reporting and independent board of commissioners
significantly affect tax aggressiveness. The findings imply that accounting scholars should consider
contextual factors when researching aggressive accounting and tax aggressiveness. Finally, accounting
regulators need to consider the effect of accounting choices on individual behavior when reviewing the
existing accounting standard and publishing new accounting regulations for the purpose of reducing
aggressive financial reporting and tax aggressiveness.
Keywords: Aggressive Financial Reporting, Tax Aggressiveness, Board of Commissioner
Book of Abstract 2nd ICIEBP | 51
THE EFFECT OF KNOWLEDGE, EXPERIENCE, AND PROFESSIONAL ACCURATENESS
IN DOING PROBITY AUDIT ON
GOVERNMENT GOODS/SERVICE PROCUREMENT FRAUD
Donny Hermawan, Hendarjatno
Fakultas Ekonomi dan Bisnis, Universitas Airlangga
Abstract
One of the highest corruption cases in Indonesia according to KPK (Corruption Eradication
Commission) is government goods/service procurement. The audits that has been conducted so far,
which is after the completion of procurement activities (post audit), is less effective to prevent the
occurrence of corruption on procurement of government goods / services. BPKP (Government Finncial
Supervisory Agent) has made a supervisory breakthrough through probity audit. With probity audit, all
on-going procurement activities are being supervised/audited. Thus, any deviations /frauds that may
occur during the procurement process of goods / services, can be detected as early as possible by the
probity auditor. This study aims to examine the influence of professional knowledge, experience and
accuracy in conducting probity audits either individually or simultaneously to the detection of fraudulent
procurement of government goods / services. The research was conducted by spreading questionnaires
to auditors at BPKP Representative of East Java Province, with 74 respondents fully-completing the
questionnaires. The results showed that individual knowledge and experience significantly influence the
detection of fraudulent procurement of goods/services while individual professional accuracy does not
significantly influence the detection of fraudulent procurement of goods / services. Simultaneously,
knowledge, experience and professional accurateness in conducting probity audit significantly influence
the detection of procurement of goods / services.
Keywords: Goods/Service Procurement, Probity Audit, Fraud detection, knowledge, experience,
professional accurateness, BPKP
Book of Abstract 2nd ICIEBP | 52
THE INFLUENCE OF USING ACCOUNTING INFORMATION AND INFORMATION
TECHNOLOGY TO THE SUCCES OF THE WORKING PERFORMANCE
(A SURVEY FOR SUPERIOR PRODUCT OF THE SMALL MEDIUM ENTREPRISES IN
BANYUMAS REGION)
Fathul Aminudin Aziz, Hastin Tri Utami
IAIN Purwokerto Islamic Bussines And Economic Faculty
Abstract
This research aims to know the influence of using accounting information and information technology
influence to the success of the working performance on the Small Medium Enterprise (SMEs) who has
superior product in Banyumas region. The population of this research are the doers of the SMEs who
are in the superior product list in Banyumas region. In determining the sample, the researcher used
purposive sampling method. The number of the respondents in this research are 38 SMEs doers. The
hypothesis testing conducted multiple linear regression method. Based on the result of the analysis using
SPSS 25 version, it shows that the using of both accounting information and information technology
influence the success of the work performance positively. Besides, the result of this research also shows
that the using of accounting information and information technology level in SMEs doers in Banyumas
region is not optimum yet. The limitation of this research are 1) the analyzed factor is limited on internal
factor in the company 2) this research focused more on the answer of the questionnaire from the
respondents. Therefore, it is suggested to the next research can focus more on the deeper interview with
the respondent.
Keywords: Using of Accounting Information, Using of Information Technology, The Succes Of
Working Performance, SMEs
Book of Abstract 2nd ICIEBP | 53
ACCOUNTING INFORMATION SYSTEM FOR CATTLE FEED CONTROL TO ACHIEVE
FEED CONSUMPTION EFFICIENCY
A.A. Gde Satia Utama, Rendra Prasetya
Department of Accounting, Faculty of Economic and Business,
Universitas Airlangga, Surabaya
Abstract
Dairy cattle farm of Mr. Djamil, located in the district of Ngantang Malang Regency, is engaged in dairy
cattle breeding and produces cows milk. The same as other dairy cows breeders, the rise in the price of
cattle feed, commonly called concentrate, is not counterbalanced by the rise in milk price causing the
farmers not to get maximum profits. Therefore, the breeders try to make efficient use of the concentrate
by creating innovations in combining dairy feed. The development of dairy cattle feed combination is
done so that the amount of milk produced by the dairy farmers is not reduced even though the
concentrate feed amount is minimized. The application of dairy cows feed control using the
Management Information System is expected to help dairy farmers to efficiently use concentrate and to
combine dairy cattle feed as a substitute for the concentrate. Based on this background, the purpose of
this study is to analyze the information system of cattle feed inventory at ranch of Mr. Djamil in
Ngantang by using Accounting Information System. This research uses qualitative exploratory approach
and performs interviews with Mr. Djamil as a dairy cattle breeder to obtain data. The analysis method
of this study is by comparing the cost price of cattle feed and the dairy cows milk selling price. The
result of the research indicates that dairy cattle farm of Mr. Djamil utilizes the dairy cows feed
combination simply through estimation and this can be recognized since the ranch is not achieving the
expected returns.
Keywords: Accounting Information System, Internal Control, Cattle Feed, Management Information
System
Book of Abstract 2nd ICIEBP | 54
CHAPTER 8: ECONOMICS SCIENCE
THE IMPACT OF ROAD CONSTRUCTION PROGRAM: EVIDENCE FROM
EAST JAVA, INDONESIA 1Irim Tiara Puri, 2Rumayya
1Faculty of Economics and Business, University of Indonesia 2Faculty of Economics and Business, Airlangga University
Abstract
The purpose of the Jalan Lintas Selatan (JLS) construction program is to reduce the inequality between
the southern and the northern area in East Java. In order to measure the success of the road construction
program, this study aims to evaluate the socioeconomic impact on villages passed by the JLS. Especially
in Pacitan, Trenggalek and Tulungagung districts. This study uses Propensity Score Matching (PSM)
and Difference in Difference (DID) to evaluate the causal impact, while the data are obtained from
survey Potensi Desa (PODES) in 2008, 2011 and 2014. The findings of this study show that the road
construction program has a positive impact to the regions. Due to the construction, population density,
investments and job opportunities increased. It also shortens the distance of schools to the village center,
especially senior high school. Interestingly is it also decreased length to karaoke. However, we also find
that the road construction reduced the Own-Source Revenue (Pendapatan Asli Daerah) of the village
government.
Keywords: Road construction, Jalan Lintas Selatan, Propensity Score Matching, Difference in
Difference, Socioeconomic impact
THE RELATIONSHIP BETWEEN CRIMES AND ECONOMIC GROWTH
Hendra Kusuma, Happy Febrina Hariyani, Wahyu Hidayat
Faculty of Economics and Business, University of Muhammadiyah Malang
Abstract
Indonesia has abundant natural resources and human resources. Those diversities can accelerate the pace
of the economy. However, along with that, the number of crimes becomes a serious problem. This study
examines another angle in economic growth by using the number of crimes and economic variables in
influencing economic growth. Using panel data on provinces in Indonesia is expected to be able to
comprehensively see the relationship between Human Development Index, Investment, the level of
corruption and the level of crime against economic growth in Indonesia.
Keywords: Crimes, Human Development Index, Investment, Economic Growth
Book of Abstract 2nd ICIEBP | 55
GREEN BUSSINES STRATEGY ON SEAWEED ENTERPRISES IN TARAKAN CITY
COASTAL 1S R Pratiwi, 2R Wahyuni, 3Mulyadi, 4M A P Siregar
1Faculty of Economics Borneo Tarakan University, Indonesia 2,3Faculty of Technology and Engineering Borneo Tarakan University, Indonesia
4Community Development Pertamina EP Asset 5 Tarakan Field, Indonesia
Abstract
The issue of green business is a small part of a big issue that actually has hit the headlines of economic
growth in the future, namely the sustainability of the business. The SME (Small and Medium
Enterprises) sector has an important role to make it happen. The development of MSMEs is one of the
efforts in the development of potential coastal communities. Micro Small and Medium Enterprises
(MSMEs) activities have an important role in realizing the sustainability business issue. The object of
this research is to analyze strategic planning in developing sustainable MSMEs through financial
analysis and SWOT analysis. The feasibility analysis analyzed using cost-benefit analysis (CBA). CBA
consist of Net Present Value (NPV), Internal Rate Return (IRR) and Benefit Cost Ratio (BCR). The
results show that this business is feasible and profitable, NPV is Idr.133,813,050, IRR value equal to
2.417, or bigger than prevailing bank interest is 13%, Net B/C Ratio of 3.29, BEP of 38 packs per month
and PBP of 4 months. The right development strategy used by processing seaweed MSMEs is a rapid
strategy by utilizing the existing strengths and opportunities. Strategies that can be done is increasing
cooperation between business actors and product diversification.
Keywords: Competitiveness, Financial Strategy, Coastal Communities, MSMEs
APPLICATION OF AUTOREGRESSIVE INTEGRATED MOVING AVERAGE FOR
IMPROVED URBAN WATER SERVICES IN SPECIAL REGION OF YOGYAKARTA 1Agustyarum Pradiska Budi, 2Mugi Raharjo, 3Evi Gravitiani
1Master of Economics Development, Economics and Business Faculty, Sebelas Maret University 2Economics and Business Department, Sebelas Maret University
Abstract
The problem of water in urban areas is a challenge that must be faced for the supply of water that is
balanced with the demand for water. In urban environments water problems are divided into two: the
level of low water coverage (water scarcity) and poor water quality. Both of these problems require
government attention so as not to have an impact on health and related social life. In this study, water
demand and supply data in the Special Region of Yogyakarta were collected for the 2008 and 2015
periods. Then, using the ARIMA Model to forecast water supply and demand during the period between
2015 and 2018. Forecasting results indicate that 2018 water supply has not been able to meet demand
water in 2015, while water demand continues to triple by 2018.
Keywords: ARIMA, Improved Water Services, Demand Water, Supply Water
Book of Abstract 2nd ICIEBP | 56
PREDICTION THE NUMBER OF FOREIGN TOURIST ARRIVAL IN INDONESIA SHARIA
TOURISM ENTRANCE USING SIMULTANEOUSLY FOURIER SERIES ESTIMATOR 1M. Fariz Fadillah Mardianto, 2Lailatus Syarifah, 3Putri Andriani, and 4Eko Fajar Cahyono
1Study Program of Statistics, Department of Mathematics, Airlangga University 2,3Bachelor Student in Study Program of Statistics, Department of Mathematics, Airlangga University,
4 Department of Sharia Economic, Airlangga University
Abstract
Indonesia is the largest Muslim country in terms of population and area. Thus, it is natural that the sharia
tourism develops in Indonesia. In 2015, the Indonesian Ministry of Tourism established three provinces
in Indonesia as sharia tourism destinations. The three provinces are Nangroe Aceh Darussalam, West
Sumatra, and West Nusa Tenggara. Previously, Central Java, East Java, West Java and Banten provinces
have developed Islamic tourism areas. Islamic tourism in Indonesia contributes to increasing national
foreign exchange reserves, and empowering communities around tourism objects. Therefore, prediction
the number of foreign tourist arrival in Indonesia sharia tourim entrance is important to make a plan for
determine next regulation and target satisfied. The entrance that be used is Kualanamu, Minangkabau,
Soekarno Hatta, Adi Sucipto, Juanda, and Lombok Praya International Airport. Prediction that be done
simultaneously because Statistically there are correlations from the data in each entrance. The research
method used is nonparametric regression based on Fourier series estimator simultaneously, because the
data does not form a certain pattern and it is periodic. The results obtained from this study indicate that
estimator has satisfied the goodness of model, so it can be used to make prediction.
Keywords: The number of foreign tourists, Indonesia sharia tourism, Fourier series estimator,
nonparametric regression, Prediction
REMITTANCES AND ECONOMIC GROWTH: CASE FOR ASIAN COUNTRIES
Rossanto Dwi handoyo, Ryan Bangkit Simanjuntak
Department of Economics, Faculty of Economics and Business, Airlangga University
Abstract
This research aims to analyze the influence of remittance of migrant on economic frowth of the origin
country. We also scrunitize the affect of capital, population ratio, the ratio of school participation, and
the ratio of exports on economic growth in eight largest receiving countries of remittance in Asia which
are India, China, Bangladesh, Philippines, Indonesia, South Korea, Pakistan and Sri Lanka using
generalized method of momments (GMM). The results show that remittance have a positive and
significant influence on economic growth. The increasing number of remittance shipments will have an
effect on the countrys economic growth.
Keywords: Economic Growth, Remittance, Generalized Method of Momments
Book of Abstract 2nd ICIEBP | 57
REFLECTION OF INDONESIAS ECONOMIC DEVELOPMENT THROUGH THE IBNU
KHALDUN SOCIAL ECONOMIC DYNAMICS APPROACH
Muhammad Sri Wahyudi Suliswanto, Setyo Wahyu Sulistyono,Zainal Arifin, Mohammad Faisal
Abdullah
University of Muhammadiyah Malang
Abstract
The concept of development in Islam can refer to the socio-economic dynamics previously initiated by
Islamic scholar Ibnu Khaldun and later developed by Umer Chapra. Therefore the purpose of this study
is to reflect economic development in Indonesia by using Ibnu Khalduns socioeconomic dynamics
model. The research method is qualitative descriptive in the form of interrelated elaboration between
concepts empirically on the meanings contained in a historical with the power of literature. Data sources
are secondary to library research and the situation phenomenology reflected in Indonesia.The results
obtained in this study are related to the direction of Indonesias development which has lost its direction
in determining development by focusing on political interests to replace the role of the state as the subject
of development in which each leadership era has changed the focus of economic development, where
each era has an explosion affecting economic life. conditions become more complicated when all
elements of government from the executive and legislative and bureaucracy act to prioritize moral
hazard such as corruption, only prioritize certain groups and the community acts as a tool of legitimacy,
where we all know in each era of leadership having policy thinking without considering sustainability.
Keywords: Economic Development, Thought of Ibnu Khaldun, Islamic Economy
ECONOMETRY MODEL OF THE IMPACT OF MACROPRUDENTIAL POLICY ON
POVERTY IN INDONESIA
Aris Soelistyo, Agung Prasetyo NW
Universitas Muhammadiyah Malang
Abstract
This study is about Poverty Alleviation which is associated with macroprudential policy (Net
Performance Loan and Asset BPR), Growth of Gross Regional Domestic Product Per Capita, Regional
Minimum Wage and Gini Ratio. Using the Panel Data Regression model for 33 provinces from 2014-
2016 in Indonesia. The results of the study revealed macroprudential policy through the control of the
Net Performance Loans, where an increase in NPLs would increase poverty by 0.242, while
macroprudential policy through BPR asset control would reduce poverty with a negative elasticity of
1.0712. The policy of increasing regional minimum wages and regional economic growth will reduce
poverty, while the inequality of income distribution results in an increase in poverty with a Gini Ratio
elasticity of significant poverty of 1.406728.
Keywords: Poverty, Gini ratio, Provincial Minimum Wages, Asset of Rural Banks, Non Performing
Loans, Economic Regional Growth, Macroprudential Policy
Book of Abstract 2nd ICIEBP | 58
ANALYSIS OF EFFECT OF FOREIGN DIRECT INVESTMENT,
DEBT TO THE IMF AND STOCK VALUES AGAINST ECONOMIC GROWTH IN
DEVELOPING COUNTRIES MEMBERS OF
THE ORGANIZATION OF ISLAMIC COOPERATION (OIC)
Dwi Susilowati, Muhammad Khoirul Fuddin, Risky Angga Pramuja, Firdha Aksari Anindyntha, Novi
Primitasari
University of Muhammadiyah Malang
Abstract
The economic growth of Islamic countries in the last decade has a significant economic growth trend.
One of the causes of the increasing economic growth of the Islamic State of the OIC is the increasing
flow of foreign capital into developing Islamic countries, which has an impact on the rapid growth of
infrastructure in the country concerned. Debt to the IMF is also an alternative for the country to get cash
injections, this is also done by developing Islamic countries of the OIC member to get funds to increase
economic growth. Stock trading is also one of the key factors of economic activity in various countries,
including the developing Islamic countries of the OIC member. The purpose of this study is to see how
much is the influence of direct foreign investment, debt to the IMF and share value on economic growth
in the developing Islamic countries of the OIC member. The analytical tool used in this study is panel
data regression with a fixed effect model. As a result, foreign direct investment and stock value have a
significant positive effect on economic growth, while debt to the IMF has a significant negative effect
on economic growth.
Keywords: Foreign Direct Investment, Debt to the IMF, Stock Values, Economic Growth, Organization
of Islamic Cooperation (OIC)
PRIVATIZATION IN DEVELOPING COUNTRIES: A PROMISING DEVELOPMENT
STRATEGY?
Ilmiawan Auwalin
Faculty of Economics and Business, Universitas Airlangga
Abstract
This paper analyses privatization as one of development strategies in developing countries. In the last
two decades, there has been an increasing trend of privatizing state owned enterprises (SOE) in
developing countries. This paper clarifies that the process to decide the implementation of privatization
in a developing country is a complex issue. The decision to privatize is not merely weighing the potential
benefits of privatization, but also requires consideration of the circumstances of the country itself. The
prerequisite circumstances of privatization in developing countries, including macroeconomic stability,
the large role of the private sector, and low corruption level, will be discussed.
Keywords: Economic
Book of Abstract 2nd ICIEBP | 59
FINANCIAL DEEPENING AND ECONOMIC GROWTH IN INDONESIA
Wasiaturrahma, Ramses Muhammad Rizal, Shochrul Rohmatul Ajija
Airlangga University
Abstract
The purpose of this study is to analyze the impact of financial deepening on economic growth in
Indonesia. The time period studied for this research is from 1975 until2016. This study uses a
quantitative research approach in the form of statistics and econometrics regression data. The data used
is based on the annual time series data from 1975 until 2016. In this research, two models of testing are
used, namely ARDL (Autoregressive Distributed Lag) and ECM (Error Correction Model). The results
of this study indicate that financial deepening has a significant negative impact on economic growth in
Indonesia. The Broad Money, Government Expenditure and Trade Openness variables influenced the
variables of economic growth simultaneously in the period 1975-2016, but only the GDP and Trade
openness variables had a significant influence on the dependent variable of GDP during the researched
period. Therefore, Bank Indonesia (BI) needs to conduct further research on Broad Money trading (M2)
so that the function of economic depth can encourage the growth of GDP Indonesia. In addition, there
is a need for policies that will stimulate and facilitate foreign and domestic companies to sell their shares
on BEI (Indonesian stock exchange) so that they can be traded by people whose impact will increase
Indonesia economic growth.
Keywords: Financial Deepening, Monetary Economics, and Economic Growth
LABOUR SUPPLY AND SKILLS SHORTAGES IN AUSTRALIA
Ilmiawan Auwalina, Alick Nyasulub, Siwaporn Kittayaapinantc
Faculty of Economics and Business, Universitas Airlangga
Abstract
Australia is facing a problem of skills shortage that might impact on human capital. This may lead to
unsustainable economic and productivity growth. The problem is caused by a combination of factors,
such as low fertility rate, an ageing population and restricted immigration policy in recent times among
others. In order to address this problem Australian government applies some policies including
increasing skill migrants, extending the retirement age, increasing women participation in labour market
and so on. This paper discusses the Australian policies to address the skills shortage problem and analyse
the implications on the economy. In addition, the alternatives of the policies also will be
discussed.
Keywords: Economy
Book of Abstract 2nd ICIEBP | 60
THE DETERMINANTS THAT INFLUENCE HOUSEHOLD DEBT CASE IN MALAYSIA
Nur Azwani Mohamad Azmin, Wan Nabihah Wan Zaidi and Zuraida Mohamad
Faculty of Business and Management, Universiti Teknologi MARA, Dungun, Terengganu, Malaysia
Abstract
The level of household debt in Malaysia may in turn cause another financial crisis as it is at worrying
stage. Therefore, the aims of this study is to identify the relationship between household debt and its
determinants as well as to determine the most significant factor that affect the household debt. The mode
of empirical investigation is Ordinary Least Square Method with the multiple regressions which are
applied to monthly time series data spanning from 2012 to 2016 for four variables such as Interest Rate,
Inflation, Unemployment Rate and Consumption. Data collected from Eikon Thomson Reuters and
Monthly Statistical Bulletin. The study implies that interest rate, unemployment rate and consumption
are positive and significantly related with household debt whereas the result illustrates an insignificant
yet positive relationship between inflation and household debt. As a conclusion, these findings bear
important implications for Malaysian policymakers
Keywords: Interest Rate, Inflation, Unemployment Rate and Consumption
ANALYSIS STRATEGY AND TARGETING TO SALES KURNIA WATCH
Muhammad Ridwan, Heny Hendrayati
Universitas Pendidikan Indonesia
Abstract
Muhammad Ridwan, 2018, Analysis Strategy and Targeting to Sales Kurnia Watch This study aims to
find out the empirical facts about the effect of the target analysis on the sale of Kurnia watches. This
research is based on the current conditions where everyone is so important with time, every day people
work tirelessly by always seeing the time they want to achieve. Especially the Clock as one of the items,
tools or media that can be used to see time as well as accessories are very important in everyday life.
All humans on this earth in their activities are racing at a time, especially in the millennial era, people
are not just see the time, but the fashion they use. With unique clocks, watches, walls and so on. Based
on research, watches are an icon that is in great demand by everyone. Not limited to age, anyone can
use the clock. The number of competitors seems to be a challenge, the brand that must be optimized
because currently around 65% of all clock products are produced by China. That way the clock brands
that have already been in production such as Japan, Switzerland, Germany must further improve the
quality of the product in the marketing strategy, so that the target that has been planned can be achieved.
Keywords: Startegy, Targeting and Sales
Book of Abstract 2nd ICIEBP | 61
DOES MICROCREDIT BRING THE WOMEN INTO ECONOMIC WORLD: EVIDENCE
FROM BANGLADESH
Mohammad Abdul Matin Chowdhury, Marhanum Che Mohd Salleh, Sylva Alif Rusmita, Puji Sucia
Sukmaningrum
Kulliyyah of Economics & Management Sciences, International Islamic University Malaysia.
Faculty of Economics and Business, Universitas Airlangga.
The empowerment, entrepreneurship and education are the most imperative issues among
women to develop the country. Micro credit is one of the effective tools to eradicate poverty
among poor people through enhancing women empowerment, enhancing the entrepreneurial activities
and improving education level for both men and women. It has initiated the schemes to encourage
entrepreneurial activities along with developing education level and enhance the women empowerment
in the country. The main goal of this research is to inspect the improvement of women empowerment,
evaluate the development of entrepreneurship and the education level among micro credit borrowers in
Bangladesh. There are two hundred and thirty respondents were participated in this research. The data
were analyzed by the descriptive and multiple linear regression analysis. The results found that the
women empowerment slightly develops even though it is not significant statistically whereas the
entrepreneurship and education are negatively associated with micro credit programs. This research
influences the micro credit institutions to develop and focus on the application of loaned amount by
borrowers to affect significantly on women empowerment, entrepreneurial activities and education
level. Finally, this research is also
Keywords: Micro credit, women entrepreneurship, women empowerment, poverty alleviation,
Bangladesh
THE ANALYSIS OF MANUFACTURING SECTOR IN INDONESIA
Muryani, Leny Chiputyani
Departement of Economics, Airlangga University
Abstract
The development of sustainable manufacturing industries is the strategy and policy of Indonesia
government. The purpose of this research to examine and analyze the impact of labor, capital, material,
and energy consume in 2012-2015 to output of manufacturing industries sector based on 2 digits code.
The other purpose is to analyze and examine the factor affecting the output of manufacturing industries
sector and Total Factor Productivity. The methods that used in this research is regression with panel
data and TFP OLS. The result show that labor, capital, material, and energy consume have significant
positive effect to output f manufacturing industries sector, while the TFP result is positive.
Keywords: Labor, Capital, Material, Energy Consume
Book of Abstract 2nd ICIEBP | 62
ANTESEDENTS AND CONSEQUENCES OF HEALTH PERFORMANCE BASED ON
PATIENT INTIMACY
Ririn Tri Ratnasari, Sri Gunawan, Muslich Anshori, Sri Herianingrum
Post Graduate Universitas Airlangga, Indonesia
Abstract
This study aims to determine the antecedents and consequences in order to improve the performance of
health services based on the patient intimacy perspective on the ISOcertified community health centers.
This research design uses approach methodology of combination of two method (mixed method) that is
qualitative exploratory methodology (data mining with depth interview method) and quantitative
methodology eksplanation (causality test). The samples used are patients who have checked their health
at ISO-certified clinics at least the last three months. Sampling technique in this research is purposive
sampling. The number of samples used was 440 outpatients consisting of 40 patients as respondents in
pre eliminary research and 400 patients as respondents in the main survey. While the analysis technique
used is Partial Least Square. The results of this study indicate that antecedents consisting of medical
services, non medical services, medical equipment technology, medical team communication,
management system, and physical environment, and consequences consisting of trust, satisfaction and
behavioral intention have been shown to improve the performance of health services based on patient
intimacy perspective at community health centers.
Keywords: Antecedents, Consequences, Health Service Performance, and Patient Intimacy
IMPROVING ACCESS TO DRINKING WATER IN DEVELOPING COUNTRIES: CASE
STUDY OF 10 COUNTRIES IN SOUTH-EAST ASIA
Agustyarum Pradiska Budi, Mugi Raharjo, Evi Gravitiani
Sebelas Maret University
Abstract
This article examines the effect of improved sanitation, economic growth, and an increase in the human
development index on improving access to drinking water in developing countries (10 South-East Asia
countries). This study uses data from 2000-2015 and analyzed using panel analysis and multiple linear
regression. The findings of this study in general the variables of sanitation improvement and HDI
improvement have a positive and significant effect on improving access to drinking water. In addition,
specifically sanitation improvement variables affect Bhutan and Nepal to improve access to safe
drinking water, while the GDP and HDI variables have no influence. While the three independent
variables do not have an influence on the dependent variable in the country of Bangladesh. Finally, this
study shows that improving access to drinking water can be affected by improved sanitation and
increased HDI, but improved access to drinking water is not affected by economic growth.
Keywords: Sanitation, Economic Growth, Human Development Index, and Improved Access to
Drinking Water
Book of Abstract 2nd ICIEBP | 63
MEASURING EFFICIENCY IN SECONDARY SCHOOL: COMPARATIVE STUDY
BETWEEN NEW AUTONOMOUS REGION AND MOTHER REGION IN BANTEN
PROVINCE
Fitri Amalia
Universitas Islam Negeri Syarif Hidayatullah Jakarta
Abstract
This paper investigate the technical efficiencies of secondary school in Banten Provincies after
decentralization. Serang District and Tangerang District are the mother regions. While Cilegon City,
Serang City, Tangerang City, South Tangerang City is a decentralized new autonomous region.
Technical Efficiency measurement uses Data Envelopment Analysis (DEA) method by comparing CRS
and VRS models. DEA is the most popular method for efficiency measurement of decision making units
(DMUs). DEA compares several homogenous DMUs based on a number of input and output variables.
Measurement of the DEA method in this study uses input orientation. Efficiency scores were obtained
from 6 districts/cities as DMU. The input variable are specific fund allocation, number of school, number
of teacher, number of student, people of school age, teacher quallification, and teacher sertification.
Output variables are number of graduates, years of schooling, expected years of schoooling and net
enrollment rates as the output variables. In junior high school level, the most efficient are Tangerang
District, Cilegon city, Serang city and Tangerang Selatan city. The results of this efficiency score can
be used to compare the performance of the mother region with the performance of the new autonomous
regions. The three cities that have become new autonomous regions have been able to achieve efficiency,
even more than their mother regions, as happened in the city of Serang. In other words, regional
expansion is quite successful in the area. Unlike the case with the city of Tangerang, as a new
autonomous region that first bloomed compared to other cities in Banten, it turns out that the city of
Tangerang has not been able to create efficiency, even Tangerang district as the mother region is still
able to achieve efficiency. This condition is an illustration that the Cilegon city, Serang city and
Tangerang Selatan city can become a brenchmark for technical efficiency in Banten Province.
Keywords: Technical Efficiency, Decentralization, New Autonomous Region, DEA method, top down,
bottom up
Book of Abstract 2nd ICIEBP | 64
ANALYSIS OF ECONOMIC GROWTH, BI INTEREST RATES, AND INFLATION AND
THE IMPACT ON FOREIGN DIRECT INVESTMENT (FDI) IN INDONESIA IN 2010 – 2017
Dadang Saepuloh, Srie Nuning Mulatsih, Sutarjo, Masruri
Universitas Islam Syekh-Yusuf
Abstract
Foreign direct investment (FDI) is a long-term investment for developing countries. FDI is very helpful
for Indonesia in economic development. Increased foreign investment can directly improve the living
standards of Indonesian people. Foreign investment can make a company capable of controlling
international business operations and increase more profits. Whereas indirect foreign investment in the
form of portfolio investment in the form of investments in financial assets such as stocks and bonds.
Foreign Investment (PMA) during the study period has a minimum value of 7.13 and a maximum value
of 9.44. Then obtained the mean or average value of 8.4341 and obtained the standard deviation value
of 74765. Judging from the standard deviation that has the highest value is the SBI, which is 1.05446,
this shows that SBI is more varied than other data. And the standard deviation that has the lowest value
is GDP, which is 0.24816, this shows that GDP is homogeneous compared to others. Based on the
calculation F Test is the Fcount value is 364,546. While the Ftable value is 2.92. Means that the Fcount
value is 364,546> Ftable 2,92. Then H0 is rejected and Ha is accepted. Based on a significance value of
0,000 smaller than 0.05. This shows that Gross Domestic Product, BIinterstrate, and Inflation have a
significant effect on FDI simultaneously.
Keywords: Foreign Direct Investment, Economic Development, Value
DOES DIVERSIFICATION AND EXECUTIVE COMPENSATION AFFECT CORPORATE
VALUES IN FAMILY FIRM: CASE OF INDONESIA
Habiburrochman, Wahyu Inayatul Fadilah, Siti Zulaikha, Noven Suprayogi
Departemen Akuntansi, Fakultas Ekonomi dan Bisnis Universitas Airlangga
Abstract
Free trade in the Asia-Pacific region (AFTA) and Southeast Asia (MEA) becomes a challenge for family
firms in developing their business activities. Strategies that can be taken by family firms to cope with
existing market pressures can be pursued by implementing a diversification and compensation strategy.
This study aims to explain and analyze the influence of diversification in related models, diversification
on unrelated models, and executive compensation to firm value. In this study the population taken is a
family firm in the manufacturing sector listed on the Indonesia Stock Exchange during the year 2012-
2016 amounted to 140. The important finding of the research is that the diversification in the related
model has no significant effect on firm value, the diversification on the unrelated model has no
significant effect on firm value, the executive compensation in the related diversified company has a
significant negative effect on firm value, then the executive compensation on the unrelated diversified
company has a significant positive effect on the value of the company.
Keywords: Related Diversification, Unrelated Diversification, Executive Compensation, Firm Value,
Family Firm
Book of Abstract 2nd ICIEBP | 65
ACADEMIC PERFORMANCE OF UNIVERSITY STUDENTS: A CASE IN A HIGHER
LEARNING INSTITUTION
Wan Maziah Wan Ab Razak, Sharifah Alia Syed Baharom, Zalinawati Abdullah, Haslenna Hamdan,
Nurul Ulfa Abd Aziz, Ahmad Ismail Mohd Anuar
Faculty of Business Management,
Universiti Teknologi MARA Cawangan Terengganu, Malaysia
Abstract
This research is to identify the relationships and main factors of academic performance degree students
in a Higher Learning Institution. The researcher can see the increasing number of students did not
graduate on time based on the data provided and it means the students did not perform well in their
studies. This research was done by conducting a survey using the questionnaires were distributed to the
students in the campus based on list name given by head of faculty. The degree students involved were
from semester 4 and 5. The total of sample size is according to Krejcie & Morgan, (1970). The data
from questionnaires were analyzed by Statistical Package for the Social Science (SPSS) version 23. The
result analyzed using reliability analysis, frequency analysis, descriptive analysis, correlation analysis
and multiple regressions. The results from the analysis show that this variable will lead to the academic
performance towards degree students. The highest beta value is teaching and learning process. In a
conclusion, this research gives some valuable information to the researcher, organization and the reader
which is useful for basic knowledge. Moreover, the researcher also has recommended few strategies or
ideas such as teachers need to create more on the ideas of teaching process, the institution need to take
care of the students needs related to their learning process, and more concern on poor students in order
to help them in academic performance among degree students semester 4 and 5 in the university.
Keywords: Academic Performance, Teaching and Learning Process, Family and Peers influence,
Students’ Financial.
Book of Abstract 2nd ICIEBP | 66
CHAPTER 9: OTHER RELEVANT TOPICS
LEGAL PROTECTION OF LENDERS IN THE IMPLEMENTATION OF FINANCIAL
TECHNOLOGY BASED ON PEER TO PEER LENDING 1Anita, 2Siti Zulaikha, 3Khofidlotur Rofiah, 4Risa Sari Pertiwi
1Master Programme of Law, Airlangga University 2Department Shariah Economics, Airlangga University
3,4Master Programme of Science in Islamic Economics, School of Postgraduate, Airlangga University
Abstract
Financial technology based on Peer to Peer Lending (P2PL-based Fintech) is one of the new
breakthroughs in financial services institutions in Indonesia. The presence of P2PL-based Fintech is a
solution for people who have not been touched by banking but have technology literacy. Therefore, the
majority of users are millennial young generation as business people. The parties in P2PL-based Fintech
consist of Lenders, Organizers, and Loan Recipients. But in practice, the legal relationship that is formed
between the lender and the organizer is only limited to the authorizer, then the lender with the recipient
of the legal relationship loan formed is the debt payable. Therefore, the loan agreement is only between
the lender and the loan recipient while the organizer as the facilitator who recommends, selects and
analyzes the loan provision is not included in the agreement, so the party vulnerable to loss is the lender.
Therefore the lender must be protected so that the funds are not lost due to misuse of the organizer or
due to the default of the recipient of the loan. This Normative Research uses two approaches namely the
law and conceptual approach. The research results are that there are two preventive legal protections for
lenders regulated in OJK Regulation No.77/PJOK.01/2016 concerning Information Technology-Based
Lending and Borrowing Services and repressive protection in article 37 PJOK. The implications of this
research are to provide guidelines for parties in implementing P2PL-based Fintech, especially legal
protection for lenders and the prudential principle of the organizers in distributing funds.
Keywords: Legal protection, Fintech, Peer to Peer Lending
Book of Abstract 2nd ICIEBP | 67
FACTORS TOWARDS VOLUNTARY TURNOVER AMONG EMPLOYEES IN MALAYSIA
BANKING INSTITUTION
Nurul Ulfa Abdul Aziz, Zalinawati Abdullah, Wan Maziah Wan Ab Razak, Zainuddin Zakaria, Haszri
Faridzuan Bin Zafril, Marha Abdol Ghapar
Faculty of Business Management,
Universiti Teknologi MARA Cawangan Terengganu, Malaysia
Abstract
Voluntary Turnover refers to the decision of an employee to leave their organization based on their own
intention and self-control. Thus this condition may give negative affects to one organization in terms of
monetary, productivity and time deficit. The paper aimed to explore the relationship between factors
namely job satisfaction, career adaptability, turnover intention and pay towards voluntary turnover in
the banking sector. Self-administered questionnaire is distributed randomly among respondents from
several departments known as Human Resources, Marketing, Retail Rehabilitation, Branch Operation
Processing, Treasury and Investigation Audit. The study uses SPSS (Scientific Package for Social
Sciences) to specified frequencies distribution, reliability analysis, correlation coefficient (Pearson’s)
and regression analysis. The analysis proved that there is a significant relationship between voluntary
turnover and three independent variables (job satisfaction, career adaptability and turnover intention).
The result revealed that the turnover intention is the most influence factor toward voluntary turnover.
Keywords: Voluntary Turnover, Job Satisfaction, Career Adaptability, Turnover Intention, Pay
WEB MARKETING METHOD FOR MICRO SMALL MEDIUM ENTERPRISES IN
TARAKAN CITY 1D Harto, 2S R Pratiwi, 3M N Utomo, 4M Rahmawati
1Faculty of Technic Borneo Tarakan University, North Kalimantan, Indonesia 2,3,4Faculty of Economics Borneo Tarakan University, North Kalimantan, Indonesia
Abstract
SMEs have a significant role for the community welfare. The Sector enables to absorb a large enough
workforce and provide opportunities for SMEs to grow and compete with companies that are more likely
to capital intensive. The purpose of this activity is to improve the marketing management aspects that
impact on increased sales. The object is the Snack Food Business In Tarakan City includes Bude Ram
and Ar-Raihan. The main problem of the two partners is the partners are not focused on marketing
management, more relies on the conventional marketing such as goods ordering system, nearest store
care, and sales in its own store, causing stagnant product sales. The proposed solution is to apply the
management and marketing techniques by using internet (online) media. The results of activities
obtained there is increasing understanding of the importance of technology to the business, increasing
ability in internet technology management, improvement in market absorption, Improved
communication skills for partners in managing websites and Social Media Marketing, i.e. the partners
ability to communicate products and product brands to have a list of regular customers on a website that
has the potential to make a sustainable product purchase.
Keywords: Marketing Aspects, Business Management, Technology Approach, SMEs