Suchergebnisse

Profit and loss sharing (PLS) financing should be the main operational characteristic of Islamic financial institutions because it more comply to sharia (Islamic law) and more fair (Chapra, 2001:223). But in fact, PLS-financing in Islamic micro-finance (IMF) in Indonesia is very small, which is about 20% of total financing. Some IMF"s managers think that PLS-financing is lead to poor performance due to the nature of uncertainty. This study aims at analyzing the effect of PLS-financing on the business performance, social performance, and maslahah (benefits) for stake holders. Maslahah is the purpose of Islamic law (sharia). By this, PLS-financing as the implementation of Islamic law have to improve maslahah for stakeholders. This study uses quantitative approach with partial least square (PLS) analysis. PLS analysis is used to determine the relationships among the latent variables; PLS-financing, business performance, social performance, and maslahah. On this study, all of the latent variables are measured by formative indicators. PLS-financing is formed by mudaraba financing and musyaraka financing. Business performance variable is formed by three indicators; return on assets, performing financing, and financing to deposit ratio. Social Performance variable is formed by three indicators; qard-qardul hasan financing; distributing of alms, infaq, sadaqah; and social funds. Maslahah variable is formed by five indicators; maslahah of owners, executives, employees, government, and society. The results indicate that the PLS-financing affects business performance negatively, but business performance affects the social performance and maslahah positively. By this result, it can be concluded that the allocation of PLS-financing of IMF affects the maslahah negatively. The cause is many PLS-financing given to start up business has high risk.

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.

This study aims to determine the relationship between zombie companies and the performance of corporate social responsibility, with corporate governance and ownership as moderator variables. A zombie company is a near-insolvent firm due to inefficiency and low profitability but still survive with external support from the government or bank (Kane, 1987). The determination of the sample is done by a purposive sampling method, with OLS and Moderated Regression Analysis methods. The number of research samples is 288 companies with a total of 1865 observations for the period 2010-2017. The analysis shows that CSR performance in zombie companies is lower than that of non-zombies. The moderator variable of corporate governance is proxied by board composition, while ownership is proxied by family ownership and institutional ownership. The board composition and institutional ownership variables do not moderate the negative effects of zombie companies on CSR performance, while the family ownership variable worsens the relationship between zombie companies and CSR performance. The research control variables are financial leverage, a dummy of state-owned enterprise, and firm size. While financial leverage has no effect on the CSR performance, the state-owned enterprise and firm size are positively related to that performance.

One of the market anomalies that often occurs in the capital market is the January Effect. This phenomenon occurs when stock returns in January become higher or increase compared to other months. Thus, this study aimed to analyze the January Effect and test the effect of institutional ownership of the anomaly January Effect. This study also uses market returns, stock turnover, and firm's size as control variables. The sample in this study were 73 companies that are categorized as LQ-45 inIndonesia Stock Exchange(ISE) period of 2012 to 2014 in accordance with predetermined criteria. This research method is purposive sampling with analysis techniques using t-test and Moderated Regression Analysis (MRA) which uses (α = 5%). The results of this study proves that the January Effect andinstitutional ownership has significant negative effect on January Effect. In addition, the results showed that market return, stock turnover, and firm's size has a significant positive effect on return.

The purpose of this study is to explain how ASEAN solved problems in stabilizing their territory. As we know the formation of ASEAN as a regional organization of Southeast Asia is to liberate countries in Southeast Asia from the influence of The Great Powers. This is in line with the realism that deeply bound within ASEAN. Ahead of the 15th anniversary of the formation of ASEAN, there was a major conflict between Vietnam and Cambodia, precisely in the 1970s. This is one of the catalysts that destabilize the ASEAN's stances to avoid various types of multilateral relations. The method used in this research is qualitative with historical analysis from various literatures. After successfully resolving the conflict, in 1994 ASEAN established ARF as a workplace to discuss security in Asia, in order to facilitate such conflicts to occur again. ARF members are not only ASEAN countries but also superpowers. This is contrary to the foundation of ASEAN itself. In essence it shows that realism is willing to subdue with liberalism.

This book examines how style and intersubjective meanings emerge through language use. It is innovative in theoretical scope and empirical focus. It brings together insights from discourse-functional linguistics, stylistics, and conversation analysis to understand how language resources are used to enact stances in intersubjective space. While there are numerous studies devoted to youth language, the focus has been mainly on face-to-face interaction. Other types of youth interaction, particularly in mediated forms, have received little attention. This book draws on data from four different text types - conversation, e-forums, comics, and teen fiction - to highlight the multidirectional nature of style construction. Indonesia provides a rich context for the study of style and intersubjectivity among youth. In constructing style, Indonesian urban youth have been moving away from conventions which emphasized hierarchy and uniformity toward new ways of connecting in intersubjective space. This book analyzes how these new ways are realized in different text types. This book makes a valuable addition to sociolinguistic literature on youth and language and an essential reading for those interested in Austronesian sociolinguistics.

Small Medium Entreprises (SMEs) and Cooperative have not received a proper law protection in facing trade liberation of ASEAN Economic Community (AEC) and economic globalized world. In 2015 AEC has been established that would bring a huge change in Southeast Asia regionS and definitely will have a wide impact to business people in Indonesia. SMEs and Cooperative contribute to more than 90 percent of total Indonesian national economy. However, they are weak on investment and information technology and management skill as well as competition law among ASEAN Member States. Economic policies do not give a sufficient protection to SMEs and Cooperative. This article tries to seek solutions for SMEs problems especially their legal structure in order to enhance their competitiveness. This article argues that the government can provide legal protection by reforming SMEs economic sectors similar to the AEC's priority sectors by which the Indonesian' SMEs would become world class corporate.

Mahathir Mohamad: Keynote address. - S. 1-20. Dialogue with the Prime Minister. - S. 21-49. Report of plenary session I: Forging cooperation for a better future. - S. 51-73. Resolutions of workshop group I: Forging cooperation from the political dimension. Resolutions of workshop group II: Forging cooperation from the religio-cultural dimension. Resolutions of workshop group III: Forging cooperation from the economic dimension. - S. 75-108. Report of plenary session II. - S. 109-136. Abdul Hamid, Ahmad Sarji bin: Closing remarks. - S. 137-140

since 2007 ASEAN has moved towards an ASEAN Economic community(AEC) as an economi integration of member states based on four economic pillars. One of AEC economic pillar the single market and Production base, means,the region as a whole must become a single market and production base to produce and commercialize good and services anywhere in ASEAN. The establishment of AEC is offering opprtunities in the from of a huge market of US$ 2.6 Trillion and over 622 million people. Of this number, around 40 per cent or 245 million people live in Indonesia. Numerous officials and othes have their doubts and worried that Indonesia will mainly be the market for the AEC and Indonesia's progress in developing its human capital will be negatively impected compettition from other ASEAN nations. The crucial futher step of the AEC is to implement the free movement of skilled labors as one of five core principles of single market and production base pillar, as it will boost economic integration in the region levels. In practice however, progress towords freer mobility has been slow and uneven. In practice however, progress towards freer mobility has been slow and uneven, due to rigid national immigration policies, inequalities in professional education and licensing regimes, public ambivalence toward the AEC, and the vast income gap that many countries fear will contribute to brain drain. This article examines impediment of free movement of skilled labors as a result of weak political and public support to drive the process forward as well as the myriad policy and procedural obstacles of free movement of skilled labor of selected categories of professions associated mainly with trade in service and invesment, this article also reviews the AMSs' policies in these areas

This article investigates the relationship between director networks and earnings quality in Malaysia. Using data on 4,416 individual directors who served on the boards of 745 firms listed on Bursa, Malaysia during 2011, we map the entire network of directors and generate measures to reflect the size and quality of information within the network. We find a negative and significant relationship between the overall connectedness of a director's network and the firm's earnings quality. In addition, we find a negative and significant relationship between the political connectedness of the director's network and earnings quality. Our results are robust for different measures of earnings quality.