Attitudes of Consumers Towards Islamic and Conventional Credit Cards in Indonesia

This study aims to analyze the attitudes of consumers towards Islamic and conventional credit cards. Using online questionnaire survey data from 51 respondents in Surabaya, East Java, the study revealed that most consumers possessed credit cards because of their convenience factor, relationship with their existing bank, and card salesmen. Therefore, the sale is the most powerful way to invite the community to have an Islamic credit card. Many customers do not care whether their credit cards are Islamic based or not, as long as the salesman promoted cards to them and the cards are able to meet their personal needs, especially for sales and purchase transactions online, they will utilize the cards. The large number of Muslims in Surabaya should be a share of the lucrative market for Islamic credit cards. Therefore, the education about the Islamic manner of consumption and the dangers of usury should be promoted in Surabaya.DOI: 10.15408/etk.v16i2.551

Faktor Dominan pada Indeks Inklusi Perbankan Syariah Sektor Pertanian di Indonesia

The importance of financial inclusion in Islamic Bank is not only affordable for business level, but also agricultural sector. Indonesian Islamic banking as one of the providers of financial services continued to grow, but its market share is still small compared with conventional banking. Therefore financial inclusion Islamic banking, especially in reaching out to the agriculture sector, need to be improved. This study aims to measure the value of financial inclusion Islamic banks in Indonesia province in reaching the agricultural sector, both provincial and district or city. Indexing method factor analysis (Principal Component Analysis) using 14 indicators that have been adapted to the concept of Financial Inclusion Index (FII). Data correlated with Islamic Financial Institution availability can be divided into two factors which are of Islamic banking (including Islamic windows of the conventional bank) and Islamic Rural Bank. The result of the analysis is indicating that the most dominant factor provided by Islamic banking (including Islamic windows of conventional Bank). The result also present the highest index score reached by West Java Province and East Java, while the lowest index score reached by East Nusa Tenggara and West Papua Province.Keuangan inklusi bagi bank syariah sangatlah penting, bukan hanya memberikan pembiayaan pada sektor bisnis namun juga untuk sektor pertanian. Bank syariah di Indonesia sebagai salah satu lembaga keuangan yang terus berkembang memiliki potensi untuk mengembangkan keuangan inklusi walaupun pangsa pasar dari bank syariah masih lebih kecil dibandingkan konvensional. Keberadaan keuangan inklusi di bank syariah khususnya pada sektor pertanian masih perlu ditingkatkan Penelitian ini bertujuan untuk mengukur nilai keuangan inklusi di bank syariah pada sektor pertanian di seluruh provinsi yang ada di Indonesia, baik pada level provinsi, kabupaten dan kota. Penelitian ini menggunakan metode index faktor analisis (analisis komponen prinsip) dengan 14 indikator yang diadaptasi dari konsep Indeks Inklusi Keuangan. Data-data berkenaan dengan lembaga keuangan Islam yang tersedia dapat dibagi menjadi dua factor, yaitu faktor yang berkaitan dengan bank syariah (termasuk unit USAha syariah) dan Bank Pembiayaan Rakyat Syariah. Hasil analisis menunjukkan bahwa faktor yang paling dominan adalah faktor yang berkaitan dengan bank syariah dan unit USAha syariah. Hasil menunjukkan bahwa angka indeks tertinggi diraih oleh provinsi Jawa Barat dan Jawa Timur, sedangkan angka indeks terendah diraih oleh provinsi Nusa Tenggara Timur dan Papua Barat

Identifikasi Holding Period Bank Umum Syariah di Bursa Efek Indonesia

This study aims to determine the effect of bid-ask spread, stock return and trading volume on the holding period of sharia commercial bank shares. This study uses a purposive sampling method, and from the specified criteria there were 3 Sharia Commercial Banks obtained, that meet the criteria and can be used as samples. The data used is in the form of daily reports obtained from the IDX website. This study uses a quantitative approach with descriptive analysis analysis techniques. The results of this study indicate that the stock holding period of Islamic Commercial Banks can be seen based on the bid-ask spread, stock return and trading volume

Pengaruh Utang Jangka Pendek dan Struktur Kepemilikan Institusional terhadap Kinerja Perusahaan yang Tercatat pada Indeks Saham Syariah Periode 2016-2018

The trade-off theory by Kraus and Litzenberg (1972) indicates that debt has its effect on firm performance. As well as agency theory stated by Jensen and Meckling (1976), showing an effect between ownership structure and manager's works, hence agency cost could be minimized and firm performance could be maximized. Therefore, this paper identifies the effect of short-term debt and institutional ownership towards firm performance partially and simultaneously, choosing 51 companies of trade, services, and investment sector of Indonesia Sharia Stock Index during 2016-2018. Three variables: short-term debt to total assets, institutional ownership, and Tobin's Q have been tested using data panel regression analysis. Partially, the results show a positive and significant effect between short-term debt and firm performance. However, institutional ownership does not show any effect on firm performance. Simultaneously, short-term debt and institutional ownership have a significant effect on firm performance

Dampak Pengungkapan Islamic Corporate Social Responsibility Tiap Dimensi Individu Terhadap Profitabilitas

Penelitian ini mempunyai tujuan untuk mengetahui dampak dari pengungkapan secara dimensi individu laporan Islamic Corporate Social Responsibility (ICSR) terhadap profitabilitas dalam bank umum syariah. Dalam penelitian ini digunakan pendekatan kuantitatif dengan metode regresi data panel serta dengan bantuan alat statistik yaitu Eviews 9. Terdapat 10 bank umum syariah di Indonesia pada periode 2016-2020 yang dijadikan sebagai sampel dalam penelitian ini. Pengukuran pengungkapan ICSR dilakukan dengan teknik konten analisis berdasarkan item-item yang mendeskripsikan nilai-nilai Islam pada laporan tahunan bank sehingga menghasilkan indeks pengungkapan Index Social Reporting (ISR). Hasil dari pengujian hipotesis menunjukkan bahwa secara simultan pengungkapan ICSR berpengaruh positif signifikan terhadap profitabilitas bank umum syariah. Secara parsial, pengungkapan dimensi per individu ICSR tidak mempunyai hubungan yang signifikan secara statistik antara dimensi individu ICSR terhadap profitabilitas, kecuali untuk ‘komitmen terhadap karyawan', ‘komitmen terhadap debitur', dan ‘komitmen terhadap komunitas'.Kata Kunci: Pengungkapan, Islamic Corporate Social Responsibility, Profitabilitas, Bank Umum Syariah. ABSTRACTThis study aims to determine the impact of the disclosure of individual dimensions of Islamic Corporate Social Responsibility (ICSR) reports on profitability in Islamic commercial banks. In this study, a quantitative approach was used with the panel data regression method and with the help of a statistical tool, namely Eviews 9. There were 10 Islamic commercial banks in Indonesia in the 2016-2020 period which were used as samples in this study. The measurement of ICSR disclosure is carried out using content analysis techniques based on items that describe Islamic values in the bank's annual report so as to produce a disclosure index of the Index Social Reporting (ISR). The results of hypothesis testing indicate that simultaneously the disclosure of ICSR has a significant positive effect on the profitability of Islamic commercial banks. Partially, the disclosure of individual dimensions of ICSR does not have a statistically significant relationship between individual dimensions of ICSR on profitability, except for 'commitment to employees', 'commitment to debtors', and 'commitment to community'.Keywords: Disclosure, Islamic Corporate Social Responsibility, Profitability, Islamic Commercial Banks.DAFTAR PUSTAKAChariri, A., & Ghozali, I. (2007). Teori akuntansi. Semarang: Badan Penerbit Universitas Diponegoro.Ahmad, N. N. N., & Sulaiman, M. (2004). Environment Disclosures in Malaysian Annual Reports: A Legitimacy Theory Perspective. International Journal of Commerce and Management, 14(1), 44-58. https://doi.org/10.1108/10569210480000173Aribi, Z. A., & Arun, T. (2015). Corporate social responsibility and Islamic financial institutions (IFIs): Management perceptions from IFIs in Bahrain. Journal of Business Ethics, 129(4), 785–794.Aribi, Z. A., & Gao, S. S. (2012). Narrative disclosure of corporate social responsibility on Islamic financial institutions. Managerial Auditing Journal, 27(2), 199–222.Arshad, R., Othman, S., & Othman, R. (2012). Islamic corporate social responsibility, corporate reputation and performance. World Academy of Science, Engineering and Technology, 64, 1070–1074.Asutay, M. (2007). Conceptualisation of the secondbest solution in overcoming the social failure of Islamic banking and finance: Examining the overpowering of homoislamicus by homoeco- nomicus. IIUM Journal of Economics and Management, 15(2), 167–195.Athanasoglou, P. P., Brissimis, S. N., & Delis, M. D. (2008). Bank- specific, industry-specific and macroeconomic determinants of bank profitability. Journal of International Financial Markets, Institutions and Money, 18, 121–136.Barnett, M. L., & Salomon, R. M. (2012). Does it pay to be really good? Addressing the shape of the relationship between social and financial performance. Strategic Management Journal, 33, 1304–1320.Baydoun, N., & Willet, R. (1997). Islam and accounting: Ethical issues in the presentation of financial information, accounting, commerce and finance. The Islamic Perspective, 1(1), 1-25.Beerli, et al. (2004). A model of customer loyalty in the retail banking market. European Journal of Marketing, vol. 38.Buckingham, G., Gregory, A., & Whittaker, J. (2011). Do markets value corporate social responsibility in the United Kingdom? Retrieved July 17, 2013 from http://business-school.exeter.ac.uk/ documents/papers/finance/2011/1107.pdf.Burke, L. and Logsdon, J. M. (1996). How Corporate Social Responsibility Pays Off. Long Range Planning, 29(4), 495-502. https://doi.org/10.1016/0024-6301(96)00041-6Bourke, P. (1999). Concentration and other determinants of bank profitability in Europe, North America and Australia. Journal of Banking & Finance, 13, 65–79.Chambers, C.L., & Day, R. (2009). The Banking sector and CSR: An unholy alliance. Financial Regulation International, 12(9), 1-7.Chronopoulos, D. K., Liu, H., McMillan, F. J., & Wilson, J. O. S. (2013). The dynamics of US bank profitability. Retrieved from http://ssrn.com/abstract=1972835.Demirguc-Kunt, A., & Huizinga, H. (2000). Financial structure and bank profitability. Policy Research Working Paper Series 2430. The World Bank.Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. The Academy of Management Review, 20(1), 65–91.Evangelinos, K.I., Skouloudis, A., Nikolaou, I.E., & Filho, W. L. (2009). An analysis of corporate social responsibility (CSR) and sustainability reporting assessment in the Greek banking sector. In S.O. Idowu & W. L. Filho (Eds.), Professionals' perspectives of corporate social responsibility (pp. 157-177). London, New York: Springer.Farag, H., Mallin C., & Ow-Yong K. (2014). Corporate social responsibility and financial performance in Islamic banks. Journal of Economic Behavior and Organization, 103(July 2014), S21-S38. https://doi.org/10.1016/j.jebo.2014.03.001.Fishman, R., Heal, G., & Nair, V. (2005). Corporate social responsibility: Doing well by doing good? Working Paper. University of Pennsylvania.Fitria, Soraya., & Hartanti. (2010). Islam dan tanggung jawab sosial: Studi perbandingan pengungkapan berdasarkan global reporting initiative indeks dan Islamic social reporting indeks. Simposium Nasional Akuntansi XIII, Purwokerto.Gao, L., & Zhang, J. (2013). Firms' earnings smoothing, corporate social responsibilities, and valuation. Journal of Corporate Finance, 32(June 2015), 108-127Ghozali, I. (2007). Manajemen risiko perbankan. Semarang: Badan Penerbit Universitas Diponegoro..Gray, et al. (1995). Accounting and accountability: Changes and challenges in corporate social and environment reporting. London: Prentice Hall Europe.Haniffa, R., & Hudaib, M. (2007). Exploring the ethical identity of Islamic banks. Journal of Business Ethics, 76, 97–116.Hassan, M. K., Rashid, M., Imran, Md Y, & Shahid, A. I. (2010). Ethical gaps and market value in the Islamic banks of Bangladesh. Review of Islamic Economics, 14(1), 49–75.Hillman, A. J., & Keim, G. D. (2001). Shareholder value, stakeholder management, and social issues: What's the bottom line? Strategic Management Journal, 22, 125–139.Juliansyah, N. (2011). Metode penelitian kualitatif. Jakarta: Kencana Prenada Media Group.Kapopoulos, P., & Lazaretou, S. (2007). Corporate ownership structure and firm performance: Evidence from Greek firms. Corporate Governance: An International Review, 15(2), 144–158.Kementrian Agama Republik Indonesia. (2021). Al Qur'an dan terjemahannya. Jakarta: Kemenag RI.Kosmidou, K. (2008). The determinants of banks' profits in Greece during the period of EU financial integration. Managerial Finance, 34(3), 146–159.Kuncoro, M. (2011). Metode kuantitatif. Yogyakarta: Sekolah Tinggi Ilmu Manajemen YKPN.Maali, B., Casson, P., and Napier, C. (2013). Social reporting by Islamic banks. Abacus, 42(2): 266-289.Mahoney, L., & Roberts, R. W. (2007). Corporate social performance, financial performance and institutional ownership in Canadian firms. Accounting Forum, 31, 233–253.Mahoney, L., & Thorne, L. (2005). Corporate social responsibility and long-term compensation: Evidence from Canada. Journal of Business Ethics, 57(3), 241–253.Makni, R., Francoeur, C., & Bellavance, F. (2009). Causality between corporate social performance and financial performance: Evidence from Canadian firms. Journal of Business Ethics, 89, 409–422.Mallin, C., Farag, H., & Ow-Yong, K. (2014). Corporate social responsibility and financial performance in Islamic banks. Journal of Economic Behavior & Organization, 103, S21–S38.Sulaiman, Maliah. (2010). Tessting A Model of Islamic Corporate financial Reports: Some Experimental Evidence. The International Islamic University Malaysia. IIUM Journal of Economics and Management, 9(2), 115-39.Marom, I. Y. (2006). Toward a unified theory of the CSP–CFP link. Journal of Business Ethics, 67, 191–200.McGuire, J. B., Sundgren, A., & Schneeweis, T. (2008). Corporate social responsibility and firm financial performance. Academy of Management Journal, 21, 854–872.Meutia, Inten. (2010). Shariah enterprise theory sebagai dasar pengungkapan tanggung jawab sosial untuk bank syariah. Disertasi tidak diterbitkan. Malang: Universitas Brawijaya.Platonova, E., Asutay M., Dixon R., & Mohammad S. (2018). The impact of corporate social responsibility disclosure on financial performance: Evidence from the GCC Islamic banking sector. Journal Business Ethics, 151, 451-471. https://doi.org/10.1007/s10551-016- 3229-0.Prabowo, R. (2015). Analisis beban kerja untuk menentukan jumlah karyawan optimal (Studi kasus: PT. Sanjayatama Lestari Surabaya). Skripsi tidak diterbitkan. Surabaya: ITATS.Preston, L. E., & O'Bannon, D. P. (1995). The corporate social financial performance relationship: A typology and analysis. Business Society, 36, 419–429.Purwanto, A. (2011). Pengaruh tipe industri, ukuran Perusahaan, profitabilitas, terhadap corporate social responsibility. Jurnal Akuntansi & Auditing, 8(1), 1-94.Roberts, R. W. (2012). Determinants of corporate social responsibility disclosure: An application of stakeholder theory. Accounting, Organisations and Society, 17(6), 595-612.Scholtens, B. (2009). Corporate social responsibility in the International banking industry. Journal of Business Ethics, 86, 159-175.Simpson, W. G., & Kohers, T. (2002). The link between corporate social and financial performance: Evidence from the banking industry. Journal of Business Ethics, 35, 97–109.Short, B. K. (1999). The relation between commercial bank profit rates and banking concentration in Canada, Western Europe and Japan. Journal of Banking and Finance, 3, 209–219.Steers, R., & Porter, L. W. (2011). Motivation and work behavior, New. York: Academic Press.Untung, H. B. (2008). Corporate social responsibility. Jakarta: Sinar Grafika.Waddock, S. A., & Graves, S. B. (1997). The corporate social performance—financial performance link. Strategic Management Journal, 18(4), 303–319

Hubungan antara Lembaga Keuangan Syariah di Indonesia Periode 2014-2018

This study is to determine the relationship between Islamic financial institutions, both bank and non-bank financial institutions in Indonesia in the 2014-2018 period. This study uses the VAR method to process data. The results of this study are contributions from Islamic-based financial institutions in Indonesia. The Islamic capital market has a positive relationship with Islamic life insurance. This happens because, in developing countries like Indonesia, life insurance is more influential than Islamic general insurance. The relationship that occurs in the Islamic capital market and life insurance occurs because of the role of the insurance company that will buy shares in the Islamic capital market. Then, related to a negative relationship between Islamic banking and Islamic insurance. It is because every credit given by the bank will be charged for insurance. The greater the value of the credit, the higher the contribution paid. This will be considered by those who will take credit at the bank. Meanwhile, insurance companies themselves are not bound by two other financial institutions. This happens because insurance companies get capital from third parties or their customers

Pengaruh Profitabilitas terhadap Nilai Perusahaan dengan Pengungkapan CSR sebagai Variabel Moderasi (Perusahaan yang Tergabung di JII dan Indeks SRI-KEHATI Periode 2016-2018)

This study aims to determine and analyze the effect of profitability (ROA) on stock prices with corporate social responsibility (CSR) as a variable that moderates the two variables. The object of this research is companies incorporated in JII and SRI-KEHATI indexes that meet the test sample criteria during the period 2016 - 2018. This study uses a quantitative approach. Analysis of the data in this study used a moderation regression analysis (MRA). This study uses 20 samples for the JII index and 21 for the SRI-KEHATI index. Data obtained from the company's financial statements incorporated in JII and the SRI-KEHATI index for the period of 2016 - 2018 on the Indonesia Stock Exchange (IDX) website. The results showed that Return On Assets (ROA) had a significant effect on JII stock prices and SRI-KEHATI index stock prices. Furthermore, with CSR as a moderating variable showing the results of research with JII that is partially CSR disclosure shows a significant value which means CSR disclosure is able to moderate the relationship of ROA with JII stock prices. Overall (simultaneous) independent variables (ROA, CSR, ROA * CSR) significantly influence the stock price of JII. Furthermore, the results of research with the SRI-KEHATI index partially disclose CSR as a moderating variable showing a significant value. This means that CSR disclosure is not able to moderate the relationship of ROA with JII stock prices. while overall (simultaneous) independent variables (ROA, CSR, ROA * CSR) affect the stock price of the SRI-KEHATI index