Suchergebnisse

IMFI (Islamic Micro Finance Institutions) is a microfinance institution that can provide ease of access, especially for people who have SME ( Small and Medium Enterprises). The purpose of this study is to determine how the concept of cooperation network between the government, private sectors and universities in strengthening SME capital through IMFI. The method used in the study is a qualitative method using a discourse analysis data analysis technique. The result of this study indicates that the cooperation between the government, private sectors, and universities in strengthening the capital of SME through IMFI can be implemented using a linear collaborative of partnership model, while capitals that can be utilized such as RLF of government, CSR funds from the private sector (companies), program linkage with Islamic Banks, training and preparation of skilled workforces from universities to support the development of IMFI and SME.

This research aims to analyze the efficiency level of fourteen Zakat Management Organizations (ZMO) in Indonesia. This study uses a quantitative approach with the method of Free Disposal Hull (FDH) and the Super Efficiency (SE) method. Socialization Expense, Operational Expense, and Salary Expense are the input variables, while zakah fund collection and zakah distribution become the output variables. Empirical findings show that ZMO Corp 4 has the highest efficiency level, which analyzed through both methods of FDH or SE. ZMO managed by the government is the most efficient ZMO compared to the others who managed by private group and social organization. Total Potential Importance (TPI) shows that the output variable that requires the most significant adjustment is the zakat distribution, which is 12.66%

It is mandatory for public companies to issue financial reports that have been audited by external auditors to be presented to the public as evidence and accountability regarding the company's performance during the year. This study aims to find out whether elements of pentagon fraud – that is, pressure, opportunity, rationalisation, competence, and arrogance – which are then developed into nine variables – financial stability, financial targets, external pressures, ineffective supervision, change of external auditors, change of directors, auditor opinion, frequency of CEO photo appearance, and politician CEO – significantly influenced the incidence of fraudulent financial statements in the banking and financial sector companies listed on the Indonesia Stock Exchange (IDX) for the year 2014–16. This is a quantitative study that uses secondary data derived from the website www.idx.co.id. The results of the data analysis show that financial stability and the frequency of the appearance of CEO photos in the financial statements significantly influence the incidence of fraudulent financial reporting.

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.

Purpose: The implementation of zakat fund management especially in some zakat institutions is considered not optimum yet. This condition is represented by disparity between potential and actual collection. In Islam, the objective of zakat is not only to collect wealth and keep it idle, instead zakat should become a source of productive fund to fulfill societal needs. Some countries with advanced zakat institutions have developed zakat to become a pillar of economic development. Today, each zakat institution is competing against each other to innovate in zakat fund management. Empowerment in zakat institutions with the appropriate strategies will enhance zakat management and distribution for the betterment of zakat recipients (mustahiq) and the Muslim society at large. Design/Methodology/Approach: This research is aimed to analyze optimization of management in regional zakat institution with SWOT (strength, weakness, opportunity, threat) analysis approach with IFE-EFE Matrix. Descriptive qualitative analysis is used to explain optimization of fund in zakat institution. Major Findings:Findings of this research shows that zakat institution should improve their strategy by developing strength and turning threat into opportunities. Originality/Value: The study provides a guideline for regional zakat institution on how they can enhance their role and efficiency to boost the economic growth for the Islamic community in Indonesia. It may also be instrumental for the government to improve in efficiency and innovative manpower, considerable research and development in optimizing Islamic Gift Economy to enhance economic growth of the Islamic community of Indonesia.

Indonesia has been well known for it's beautiful batik. In fact UNESCO has been awarded batik Indonesia as a masterpiece of oral and intangible heritage of humanity. UNESCO insisted that Indonesia must preserve its heritage. Batik has been part of creative economy in Indonesia. Jawa Timur province had many batik industrial center spreaded in several city, such as Madura, Sidoarjo, Tuban, Tulungagung, etc. Batik, especially hand drawn batik company in Indonesia usually run by entrepreneur of small company. The success of financial performance in hand drawn batik industry was supposedly the result of entrepreneurship of batik company owner / manager, and good operational performance in their internal business process. This study focused on the mediating effect of operational performance on the relationship of entrepreneurship toward financial performance in batik hand drawn industry in East Java Province in Indonesia. This study used quantitative approach. The sample of this study was 111 small business batik company, and analyzed using Warp PLS. Result of the study showed that operational performance mediated the relatioship between entrepreneurship and financial performance. The result of this study contributed input to the policy maker in East Java Province government abot developing sustainable and successful batik industry to boost creative economic activity in East Java Province. This study also gave a contribution in management accounting area especialy about factor that giving impact to financial performance in batik industry.

This study aims to choose a fiscal stress index that is most suitable to assess state budget condition in Indonesia. The analysis factor is used to assess several factors that can cause stress on the state budget. SPSS is used for the purposes of the analysis. There are eleven indicators of two factors that lead to fiscal stress. The assessment revealed that there is only one fiscal stress index which is suitable to assess state budget condition in Indonesia. Factors can lead to fiscal stress in Indonesia are state expenditure, debt factors, education spending, general allocation funds, profit sharing funds, special autonomy funds, health spending, debt interest payments, state obligation, and the number of population.

This study aimed to test whether the intellectual capital disclosure (ICD) level affect the value of equity capital. The ICD level calculation was done using the method of disclosure index. The value of equity capital was calculated using the industry-adjusted price earnings ratio (IndEP ratio). Testing the effect of ICD level on the value of equity capital is done by multiple linear regression analysis using a sample of 97 companies listed in the Indonesia Stock Exchange in 2013 and 2014, with a total sample of 194 observations. The control variable of this work is size, leverage, market to book value and industry. The results of this study indicate that the intellectual capital disclosure level, human capital disclosure level, structural capital disclosure level and relational capital disclosure level had significant negative effect on the cost of equity capital. This study also used four control variables, namely size, leverage, market to book value and industry. Of the four variables, size is not significant positive effect on the cost of equity capital. Leverage and industry had significant negative effect on the cost of equity capital. While, the market to book value had significant negative effect on the cost of equity capital.

This study aimed at assessing the efficiency of zakat organizations in Indonesia by the use of non-parametric efficiency measurement methods. In addition, a cluster analysis based on the affiliation type was also used to assess the efficiency of Zakat organizations. A quantitative approach with the DEA and FDH methods was applied to this research, during which the latest data from the financial reports of each Zakat Institution have been utilized. This period ranges from 2014 to 2018 for the 14 Zakat Institutions. Based on the results, Zakat Institutions have equal efficiency between DEA and FDH methods if the clusters of government, corporation, and social community are combined. Research data on measuring efficiency show that the DEA method contributes 21% of all Decision-Making Units (DMU) to the total, while the FDH method contributes 25%. The research is one of the first studies to focus on the efficiency of the Zakat Institutions and its associated clusters: government, corporation, and social community. This research can be useful for Zakat Institutions in the form of critical application evaluation considering the research input variables, such as salaries, operational costs, and cost of socialization, and research output variables, for example zakat fund, zakat distribution taking maqasid sharia aspects into consideration.

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.

A lot of researches have studied good corporate governance implementation in manufacturing companies; this research, however, is more focusing in banking industry. Since bank holds important key role in the economics, bank needs a good governance to get a good reputation to play its role well. This research was conducted using secondary data obtained from annual reports of banking companies listed in the Indonesia Stock Exchange for the year 2008 until 2012. The data was analyzed using multiple regression method.The result showed that foreign ownership, board size, and external auditor, as corporate governance variables, partially and significantly affect bank financial performance, while large shareholders, government ownership, commissioner size, independent commissioner proportion, and capital adequacy ratio are found to insignificantly affect bank financial performance. Furthermore, firm size as controlling variable, is insignificantly affect the relationship between corporate governance variables and bank financial performance.

The development of the microfinance as well as islamic microfinance Indonesia has been remarkable. It gains many attention by policy makers as well as academicians in many occasions. Topic that was discussed ranged from the past performance, current obstacle as wes as the problem, solution and the opportunity in the future (Hamad 2010, Bank Indonesia 2009,2010). The role of this microfinance gain more important during the recent financial crisis. The subprime mortgage occured in 2008 has affected many countries in the worlds. In Indonesia the effect can be seen from the stock market. Jakarta Composite Index (JCI) shows 2721.25 in January 2008 while it plunged to 1241.54 in October 2008. Companies which the operations is exposing themselves to the exchange rate were obviously got affected since the plunge of the stock market induce investors not to continue their investments in Indonesia. As a result ''fligh to quality" happened and this create fluctuation of the exchange rate. However, other sector such as microfinance does not seem to be affected.

Using the accounting ecology framework developed by Gernon and Wallace (1995), this study aims to examine the reasons Indonesia adopted the International Financial Reporting Standards (IFRS). Data were extracted from the accounting policy makers' offices based in Indonesia including the DSAK, DPN IAI, and Bapepam-LK. In-depth interviews were conducted and data were then processed via thematic analysis, a method used for identifying, analyzing, and reporting themes/patterns noted in the data (Gray, 1988). Results noted from this study revealed four themes which served as reasons behind Indonesia's adoption of the IFRS. The first reason is that Indonesia was dominated by the desire to serve the interests of global business. The second reason is that Indonesia wanted to act as a social accounting actor as it was now in the position to act as a standard buyer. The third reason is that Indonesia is in the position of swift current globalization. Finally, Indonesia is under the political pressures exerted by foreign parties.

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.