Analisis Determinan Rating Sukuk Korporasi Di Indonesia

This research is aimed to collect empirical evidences and knowing the significance of the influence of maturity, firm size, growth, profitability, liquidity, and leverage on corporate sukuk ratings in Indonesia, and testing theories about the determinants of sukuk ratings. The population of this research is all corporate sukuk in Indonesia which have been rated by Pefindo. The sampling technique in this study uses a purposive sampling method so that the research sample was 124 sukuk issued by 26 companies and rated by Pefindo in the 2014-2018 period. The method of data collection uses the library research approach. The data analysis technique uses Structural Equetion Modeling with Partial Least Square using SmartPLS 3.0 software. The results of this study indicate that the variables of firm size, growth, and liquidity each have a significant positive effect on the sukuk rating, while the leverage variable has a significant negative effect on the sukuk rating. The profitability and maturity variables have no significant effect on sukuk rating.Penelitian ini bertujuan untuk mengumpulkan bukti empiris dan mengetahui signifikansi pengaruh maturitas, ukuran perusahaan, pertumbuhan, profitabilitas, likuiditas, dan leverage terhadap peringkat sukuk perusahaan di Indonesia, serta menguji teori tentang determinan peringkat sukuk. Populasi dalam penelitian ini adalah seluruh sukuk korporasi di Indonesia yang telah diperingkat oleh Pefindo. Teknik pengambilan sampel dalam penelitian ini menggunakan metode purposive sampling dengan jumlah sampel sebanyak 124 sukuk yang diterbitkan oleh 26 perusahaan pada periode 2014-2018. Metode pengumpulan data menggunakan pendekatan studi pustaka. Teknik analisis data menggunakan Structural Equetion Modeling dengan Partial Least Square menggunakan software SmartPLS 3.0. Hasil penelitian ini menunjukkan bahwa variabel ukuran perusahaan, pertumbuhan, dan likuiditas masing-masing berpengaruh positif signifikan terhadap peringkat sukuk, sedangkan variabel leverage berpengaruh negatif signifikan terhadap peringkat sukuk. Variabel profitabilitas dan maturitas tidak berpengaruh signifikan terhadap peringkat sukuk

KONTESTASI PENAFSIRAN IDEOLOGIS DI WEBSITE: STUDI ATAS AYAT-AYAT MUTASHĀBIHĀT SIFAT ALLAH DALAM SITUS ISLAM SALAFI DAN NAHDLATUL ULAMA

This article aims to figure out the contesting ideological exegesis of the mutashābihāt verses in the sifāt of Allah from two Islamic sect in Indonesia, Salafi Islam and Nahdlatul Ulama. By using a comparative-qualitative approach to the data on the two streams on the website, this article attempts to describe the interpretations, views, and ideological tendencies of the two schools. Finally, this research concludes that salafi Islam tends to interpret mutashabihat verses zahir without using takwil. Meanwhile, Nahdlatul Ulama carried out takwil on mutashābihāt verses, especially those related to verses that had the connotation of jismiyyah. Although they have differences in interpreting mutashābihāt, they both avoid equating Allah with his being. This article emphasizes that the Salafi Islamic interpretation of the Qur'an and hadith tends to be textual rather than the Nahdlatul Ulama which is more contextual

Pengaruh Kualitas Pelayanan dan Kualitas Produk Terhadap Keputusan Menabung pada Produk Tabungan Mudharabah di KSPPS BMT NU Cabang Camplong

The development of Islamic financial institutions, such as the KSPPS BMT NU Camplong Branch, is growing rapidly. In order to remain competitive, they need a good marketing strategy. One of them is by paying attention to the quality of service and products. If the service and products are of good quality, customers will be interested in saving. Therefore, this research aims to examine the influence of service quality and product quality on customers' saving decisions for Mudharabah Savings products at the KSPPS BMT NU Camplong Branch. This research uses a quantitative method with statistical analysis. The population of this study consists of all customers of Mudharabah Savings at the KSPPS BMT NU Camplong Branch, totaling 3555 customers. The research sample was taken using the Accidental Sampling method, with a total of 98 customers. The results of the study show that service quality and product quality have a significant influence on customers' saving decisions. Overall, 47.9% of customers' saving decisions can be explained by the variables of service quality and product quality

PENGARUH MOTIVASI KERJA DAN LINGKUNGAN KERJA TERHADAP KINERJA KARYAWAN DENGAN GAYA KEPEMIMPINAN SEBAGAI VARIABEL MODERASI (Studi Kasus Pada Karyawan PT. Ausman Grosir Indo Surabaya)

Human Resources (HR) is an aspect that needs to be considered in a company in today's increasingly advanced era. This is one of the keys to the success of the company's goals. Therefore, the company in carrying out its operations must be good and structured so that employee performance can be maximized. In improving employee performance there are several things that need to be considered, namely Work Motivation, Work Environment and Leadership Style. The location that is the object of this study is employees of PT. Ausman Grosir Indo Surabaya located on Jl. Margomulyo Permai AJ No. 29, Tandes District, Surabaya. The sample was taken as many as 43 respondents from the total employees of PT. Ausman Wholesale Indo Surabaya. From the questionnaire disseminated, researchers obtained the primary data used in this study. Independent variables used in Work Motivation and Work Environment research, dependent variables of employee performance, and moderation variables of Leadership Style. The analytical techniques used in this study are Multiple Linear Regression Analysis and Multiple Linear Regression Analysis with Moderation Variables, and also for hypothesis testing using t Test and F Test.                The results of the research that has been conducted show that Work Motivation and Work Environment have a significant effect on Employee Performance, while Leadership Style has a significant effect in strengthening the influence of Work Motivation and Work Environment on Employee Performance

PENGARUH MOTIVASI KERJA DAN LINGKUNGAN KERJA TERHADAP KINERJA KARYAWAN DENGAN GAYA KEPEMIMPINAN SEBAGAI VARIABEL MODERASI (Studi Kasus Pada Karyawan PT. Ausman Grosir Indo Surabaya)

Human Resources (HR) is an aspect that needs to be considered in a company in today's increasinglyadvanced era. This is one of the keys to the success of the company's goals. Therefore, the company in carryingout its operations must be good and structured so that employee performance can be maximized. In improvingemployee performance there are several things that need to be considered, namely Work Motivation, WorkEnvironment and Leadership Style.The location that is the object of this study is employees of PT. Ausman Grosir Indo Surabaya located onJl. Margomulyo Permai AJ No. 29, Tandes District, Surabaya. The sample was taken as many as 43 respondentsfrom the total employees of PT. Ausman Wholesale Indo Surabaya. From the questionnaire disseminated,researchers obtained the primary data used in this study. Independent variables used in Work Motivation andWork Environment research, dependent variables of employee performance, and moderation variables ofLeadership Style. The analytical techniques used in this study are Multiple Linear Regression Analysis andMultiple Linear Regression Analysis with Moderation Variables, and also for hypothesis testing using t Test andF Test.The results of the research that has been conducted show that Work Motivation and WorkEnvironment have a significant effect on Employee Performance, while Leadership Style has a significant effectin strengthening the influence of Work Motivation and Work Environment on Employee Performance

Design of Multi Syringe Pump for Flow System Analysis

The aims of this work were to research: design of the multi syringe pumps, volume consistency of ISAB and the correlation of the PWM to the flow rate of carrier. Pump speed was set by PWM. Controlling the pump speed and time were performed with a computer using Labview software. It was found that based on the time variation of time then the volume of ISAB has a consistency of the injected volume with Kv 0.25% to 2.53% and the rate of carrier based on multi syringe velocity have a good correlation with the regression value of 0.998 and the value of Kv 0.27% to 1.2%. Keywords : Multi syringe pump, MSFIA methods, PW

Al-Wasathiyah fî al-Iqtishâd al-Islâmî: Ârâ’u ‘ulamâ Jam’iyati “Nahdlatul Ulama” Bi Jawa al-Syarqiyah haula “al-Taraddud” bi Sya’ini Fatâwa al-Fawâid al-Mashrîfiyah

Recently, there has been a massive innovation of online loans and good purchases using pay later with installment schemes. The phenomenon inevitably brings into controversies among the public recalling the old discussion about bank interest. Although Islamic scholars have formulated religious edict (fatwa) about bank interest, some look unfirm, such as that of NU (Nahdlatul Ulama’). This writing aims to portray the seemingly unfirm attitude of the organization relying on the assumption that it actually aims to campaign Islamic economic moderation a la NU. This is qualitative research using the phenomenological approach with the interview as the data compilation method. The opinion of 8 Kiais from the East Java NU insiders became the research subjects. The result shows how the dispute of bank interest has been becoming a continuously debatable topic. Among the three opinions about the bank interest, namely haram, halal, and shubhat, most informants choose the moderate one by neither considering it halal nor haram, including categorizing it as a part of riba type. This intersubjective opinion resonates with organizational opinion which reflects tolerance of the Indonesian monetary reality, such as Islamic banking and conventional banks which are respectively used by Indonesians. This sort of contestation takes a form of formalist and substantial moderation for bridging extreme opinions about the bank's interest

السياسة الشرعية الاقتصادية عند الخليفة عثمان بن عفان رضي الله عنه (دراسة تحليلية مقاصدية)= Assiyasah Sysyariyyah Al-Iqtishodiyah ‘Indal Khaifah Itsman Bin Affan Radhhiallohu’anhu

This thesis is applied for Islamic Law Master Program, Muhammadiyah University of Surakarta. Arranged by: Umarulfaruq Abubakar. NIM: O 0001 100 30. Supervised by: Dr. Muhammad Mu’in Dinillah Bashri, MA and Dr. Muhammad Abdul Khalik Hasan. Year : 2014 AD – 1436 H. The period of Khalifah Utsman bin Affan’s Goverment is well known by its advancement economy. Khalifah Utsman successfully managed the Islam countries’ potential; so that the government in that period was able to give the citizenry prosperity. That is why it is interesting to conduct a study related to the economic policy in the period of Khalifah Utsman Bin Affan Radhiallahu Anhu’s government. This study used qualitative method in form of document analysis. In this study, the researcher focused on the three problems. They are 1) how was the Economic policy of Kalifah Ustman bin Affan? 2) What was the genius side of Ustman bin Affan’s politic choices? 3) How is our way to argue the bad accusations toward Ustman bin affan in every problem such as the appointment of his family as the governor and treating his family better than treating others Muslims? After conducting the research through some literatures, the researcher concluded that: 1) The Kalifah Utsman bin Affan’s economic policy applied the principles of Islamic law which same as the application of Rasulullah and the previous two khalifas ( Abu Bakar Ash Sidiq and Umar bin Khatab) by some difference policies in the management of Zakat, Fai’ and society subsidy. 2) Khalifah ustman bin affan was able to maximize the general revenue and expenditure budget based on the society’s needs in that era until engendering society prosperity and the healthy economic behavior. 3) The Khilafah Ustman’s policy persistently holding on the principles of trusteeship, justice and placing the public functionaries based on their capabilities. The charity he gave to his family derived from his own wealth and the member of his family who became the public functionaries was pointed by the previous Khalifah Abu bakar and Umar and they had good leaderships

Pengaruh kualitas pelayanan terhadap loyalitas pelanggan dengan kepuasan konsumen sebagai variabel pemoderasi: Studi Empiris pada PT. Patra Jaya Humairah Surabaya

مستخلص البحث جودة الخدمة هي أمر مهم الذى يجب أن يأخذها الشركات العاملة في الخدمات. إن وجود جودة خدمة جيدة في أذهان العملاء سيؤدي إلى ظهور صورة جيدة بحيث يصبح المستهلك المخلص للخدمات التي تقدمها الشركة. يهدف هذا البحث إلى تحديد تأثير جودة الخدمة على ولاء العملاء مع لجماعة العمرة في الشركة فترا جايا حميرة سورابايا جاوة شرقية وتحديد تأثير جودة الخدمة على ولاء العملاء مع رضا العملاء كمتغير الاعتدال في الشركة فترا جايا حميرة سورابايا جاوة شرقية استخدم هذا البحث نهجًا كميًا. السكان في هذا البحث هو الجماعة الذين يؤدون العبادة العمرة في الشركة فترا جايا حميرة سورابايا جاوة شرقية. العينة هي 100 من المستطلعين والاستبيانات كأدوات لجمع بيانات المستطلعين. الطريقة التحليلية في هذا البحث هي باستخدام الصلاحية، اختبار الموثوقية واختبار الفرضيات الكلاسيكية واختبار تحليل الانحدار الاعتدال (MRA) دلت هذه النتائج إلى أن جودة الخدمة التي لديها 5 مؤشرات الأدلة المادية والاعتمادية، والاستجابة، والضمان والتعاطف التى لها تأثير إيجابي وكبير على ولاء العملاء في الشركة فترا جايا حميرة سورابايا ورضا العملاء يؤثر على العلاقة النوعية الخدمات في مؤشر الأدلة المادية والاعتمادية، والاستجابة والتعاطف على ولاء العملاء، وقادرة على تعزيز العلاقات الجودة الخدمة في مؤشر الأدلة المادية والاعتمادية، والاستجابة والتعاطف على ولاء العملاء. ومع ذلك، في هذا البحث المتغير رضا العملاء يؤثر العلاقة بين المتغير الجودة الخدمة في مؤشر الضمان على ولاء العملاء، الذي يضعف العلاقة بين ضمان على ولاء العملاء ABSTRACT Services quality is a significant thing that must be considered by the companies engaged in services. The existence of good services quality will build a good image to the customers, so that the customers become loyal to the services provided by the companies. This study aims to find out the impact of service quality on customer loyalty for umrah pilgrims in PT. Patra Jaya Humairah Surabaya, East Java and to know the influence of service quality on customer loyalty with the customer satisfaction as moderating variables in PT. Patra Jaya Humairah Surabaya, East Java. This study uses quantitative approach. The population used in this study is the pilgrims who perform umrah in PT. Patra Jaya Humairah Surabaya, East Java. Sample used is 100 respondents and questionnaire used as respondent data collection tool. Analysis method used in this study is validity test, reliability test, classic assumption test and moderated regression analysis (MRA) test. The findings of the study show that service quality that has 5 indicators including Physical Evidence, Reliability, Responsiveness, Assurance, and Empathy has positive and significant impact on customer loyalty in PT. Patra Jaya Humairah Surabaya and the customer satisfaction influences the relationship of Service Quality on indicator of Physical Evidence, Reliability, Responsiveness, and Empathy on the Customer Loyalty, and is able to strengthen the relationship of Service Quality on the indicator of Physical Evidence, Reliability, Responsiveness, and Empathy on Customer Loyalty. However, this study shows that the Customer Satisfaction variable influences the relationship between Service Quality variable on the indicator of Assurance on Customer Loyalty, whose influence weakens the relationship between the Assurance on the Customer Loyalty. ABSTRAK Kualitas pelayanan jasa merupakan hal penting yang harus diperhatikan oleh perusahaan yang bergerak dibidang jasa. Keberadaan kualitas pelayanan jasa yang baik di benak konsumen maka akan memunculkan image yang baik sehingga konsumen menjadi loyal terhadap jasa yang diberikan oleh perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh kualitas pelayanan terhadap loyalitas pelanggan bagi jamaah umroh di PT. Patra Jaya Humairah Surabaya Jawa Timur dan mengetahui pengaruh kualitas pelayanan terhadap loyalitas pelanggan dengan kepuasan konsumen sebagai variable pemoderasi di PT. Patra Jaya Humairah Surabaya Jawa Timur. Penelitian ini menggunakan pendekatan kuantitatif. Populasi pada penelitian ini jamaah yang menunaikan ibadah umrah di PT. Patra Jaya Humairah Surabaya Jawa Timur. Sampel yang digunakan sebanyak 100 responden serta kuisioner sebagai alat pengumpulan data responden. Metode analisis yang digunakan dalam penelitian ini menggunakan uji validitas, uji reliabilitas, uji asumsi klasik dan uji moderated regression analysis (MRA). Hasil penelitian ini menunjukkan bahwa kualitas pelayanan yang mempunyai 5 indikator Bukti Fisik, Keandalan, Daya Tanggap, Jaminan dan Empati memiliki pengaruh positif dan signifikan terhadap loyalitas pelanggan pada PT. Patra Jaya Humairah Surabaya dan Kepuasan konsumen mempengaruhi hubungan Kualitas Pelayanan pada indikator Bukti Fisik, Keandalan, Daya Tanggap dan Empati terhadap Loyalitas Pelanggan, serta mampu memperkuat hubungan Kualitas Pelayanan pada indikator Bukti Fisik, Keandalan, Daya Tanggap dan Empati terhadap Loyalitas Pelanggan. Akan tetapi dalam penelitian ini variabel Kepuasan Konsumen mempengaruhi hubungan antara variabel Kualitas Pelayanan pada indikator Jaminan terhadap Loyalitas Pelanggan, yang pengaruhnya memperlemah hubungan antara Jaminan terhadap Loyalitas Pelanggan