The increase in productivity in the maritime sector will realize the maritime sector as a prime mover. This study aims to analyze the impact of the maritime sector productivity improvement on the performance of the economy. This research simulates increased productivity in the maritime sector (consisting of the fisheries, oil, gas sub-sector and marine transport services sector) using the Global Trade Analysis Project (GTAP) version 8. Simulation analysis showed an increase in productivity in the maritime sector has a positive impact on welfare, real GDP, and trade balance of Indonesia. However, the impact of the increase in productivity is not followed by an increase in output in all sectors. This indicates that if the increase in productivity occurs only in the maritime sector alone without being followed by an increase in productivity in other sectors, the sectoral performance is not optimal. DOI: 10.15408/sjie.v5i2.3403
{"title":"The Impact of Productivity Increasing in Indonesian Maritim Sector: General Equilibrium Analysis","authors":"W. Widyastutik","doi":"10.15408/SJIE.V5I2.3403","DOIUrl":"https://doi.org/10.15408/SJIE.V5I2.3403","url":null,"abstract":"The increase in productivity in the maritime sector will realize the maritime sector as a prime mover. This study aims to analyze the impact of the maritime sector productivity improvement on the performance of the economy. This research simulates increased productivity in the maritime sector (consisting of the fisheries, oil, gas sub-sector and marine transport services sector) using the Global Trade Analysis Project (GTAP) version 8. Simulation analysis showed an increase in productivity in the maritime sector has a positive impact on welfare, real GDP, and trade balance of Indonesia. However, the impact of the increase in productivity is not followed by an increase in output in all sectors. This indicates that if the increase in productivity occurs only in the maritime sector alone without being followed by an increase in productivity in other sectors, the sectoral performance is not optimal. DOI: 10.15408/sjie.v5i2.3403","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"133-148"},"PeriodicalIF":0.0,"publicationDate":"2016-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Aim of this paper is to explore the root and role of trust within business cycle and transaction. Any business and social transactions contain complexity and are built on the basis of trust and rational calculation. Fluctuation of price of any commodities and level of their selling products are determined by the degree of consumers’ trust. Lessons learned from the field teaches that the trust easy to be gone and hard to be re-treated. Keeping trust is very important since any transactions tend to face business failure but existing trust in business commitment will diminish the risk of losing. It is reason why businessmen rely on not only rational calculation but also on emotional, cultural and ethnicity based of trust.If not, it will engender serious risk. DOI: 10.15408/sjie.v5i2.3393
{"title":"Trust and Business Transaction","authors":"P. Chalid","doi":"10.15408/SJIE.V5I2.3393","DOIUrl":"https://doi.org/10.15408/SJIE.V5I2.3393","url":null,"abstract":"Aim of this paper is to explore the root and role of trust within business cycle and transaction. Any business and social transactions contain complexity and are built on the basis of trust and rational calculation. Fluctuation of price of any commodities and level of their selling products are determined by the degree of consumers’ trust. Lessons learned from the field teaches that the trust easy to be gone and hard to be re-treated. Keeping trust is very important since any transactions tend to face business failure but existing trust in business commitment will diminish the risk of losing. It is reason why businessmen rely on not only rational calculation but also on emotional, cultural and ethnicity based of trust.If not, it will engender serious risk. DOI: 10.15408/sjie.v5i2.3393","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"59 1","pages":"163-180"},"PeriodicalIF":0.0,"publicationDate":"2016-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper studied the behavior of management toward the implementation of Good Corporate Governance in Indonesia to determine whether it has any influence towards profitability and its implication to th e Manufacturing Firms’ value publicly listed in Indonesian Stock Exchange. There were 41 corporations who met the criteria of the survey. The data were analyzed using Panel Regression with fixed effects Model. The empirical findings show that the implementation of Corporate Governance in Indonesia has a positive, significant and direct impact toward firms’ profitability and firms’ value. Corporate Governance principles based on OECD principles that have positive and significant impact to both profitability and Firms’ Valueis Rights of Shareholders, Role of Stakeholders, Responsibilities of the Board Commissioners and Board of Directors. The principles that have significance and negative impact towards corporate profitability and value, are: Equitable treatment of shareholders and Disclosure and Transparencies. The most significant principle influencing profitability and firms’ value is D isclosure and Transparencies. Profitability plays a greater role in influencing Manufacturing Firms’ value in Indonesia. DOI: 10.15408/sjie.v5i2.3542
{"title":"The Impact Of Good Corporate Governance To Manufacturing Firm’s Profitability And Firm’s Value","authors":"Johanes Sumarno, Sendy Widjaja, Subandriah Subandriah","doi":"10.15408/SJIE.V5I2.3542","DOIUrl":"https://doi.org/10.15408/SJIE.V5I2.3542","url":null,"abstract":"This paper studied the behavior of management toward the implementation of Good Corporate Governance in Indonesia to determine whether it has any influence towards profitability and its implication to th e Manufacturing Firms’ value publicly listed in Indonesian Stock Exchange. There were 41 corporations who met the criteria of the survey. The data were analyzed using Panel Regression with fixed effects Model. The empirical findings show that the implementation of Corporate Governance in Indonesia has a positive, significant and direct impact toward firms’ profitability and firms’ value. Corporate Governance principles based on OECD principles that have positive and significant impact to both profitability and Firms’ Valueis Rights of Shareholders, Role of Stakeholders, Responsibilities of the Board Commissioners and Board of Directors. The principles that have significance and negative impact towards corporate profitability and value, are: Equitable treatment of shareholders and Disclosure and Transparencies. The most significant principle influencing profitability and firms’ value is D isclosure and Transparencies. Profitability plays a greater role in influencing Manufacturing Firms’ value in Indonesia. DOI: 10.15408/sjie.v5i2.3542","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"181-196"},"PeriodicalIF":0.0,"publicationDate":"2016-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to analyse the potential of sharia bonds in the region as an alternative to local financing. This research is a kind of literary descriptive qualitative research using SWOT analysis. The results of this study indicate that in the area of sharia bonds is an alternative worth considering regional funding compared to other funding. Support policy, very large financing needs for region infrastructure development, the market potential in the area of sharia bonds is an opportunity for local governments in Indonesia to immediately issue sharia bonds in the area. DOI: 10.15408/sjie.v5i1.3126
{"title":"Shariah Bond as Financial Instrument For Local Government","authors":"Anim Rahmayati","doi":"10.15408/sjie.v5i1.3126","DOIUrl":"https://doi.org/10.15408/sjie.v5i1.3126","url":null,"abstract":"This study aims to analyse the potential of sharia bonds in the region as an alternative to local financing. This research is a kind of literary descriptive qualitative research using SWOT analysis. The results of this study indicate that in the area of sharia bonds is an alternative worth considering regional funding compared to other funding. Support policy, very large financing needs for region infrastructure development, the market potential in the area of sharia bonds is an opportunity for local governments in Indonesia to immediately issue sharia bonds in the area. DOI: 10.15408/sjie.v5i1.3126","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"83-98"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This current paper examined the determinant of the poverty in the OIC countries. Our empirical model was based on Ibn Khaldun development model that emphasizes several aspects, namely: the country's wealth (proxied by GDP per capita), the role of government (proxied by health and education expenditures), human resources (proxied by HDI), sharia (proxied by corruption perception index), development (proxied by investment), and justice (proxied by Gini index). We used panel data model consisting nine OIC countries over 2003-2012. This study verified that GDP per capita significantly contribute to the reduction of poverty in the OIC countries. We also found that unemployment (as a control variable) encountered a role in triggering poverty in OIC countries. Meanwhile, it found that education expenditure, Gini index, HDI, and Corruption Perception Index found no significant effect on poverty. DOI: 10.15408/sjie.v5i1.3130
{"title":"Determinant of The Poverty in The Moslem Countries: Ibn Khaldun Development Model","authors":"Dian Paisal Putra, I. Indra","doi":"10.15408/SJIE.V5I1.3130","DOIUrl":"https://doi.org/10.15408/SJIE.V5I1.3130","url":null,"abstract":"This current paper examined the determinant of the poverty in the OIC countries. Our empirical model was based on Ibn Khaldun development model that emphasizes several aspects, namely: the country's wealth (proxied by GDP per capita), the role of government (proxied by health and education expenditures), human resources (proxied by HDI), sharia (proxied by corruption perception index), development (proxied by investment), and justice (proxied by Gini index). We used panel data model consisting nine OIC countries over 2003-2012. This study verified that GDP per capita significantly contribute to the reduction of poverty in the OIC countries. We also found that unemployment (as a control variable) encountered a role in triggering poverty in OIC countries. Meanwhile, it found that education expenditure, Gini index, HDI, and Corruption Perception Index found no significant effect on poverty. DOI: 10.15408/sjie.v5i1.3130","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"15-30"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The aim of this study are: first, to analyse the competitiveness of Indonesian cocoa in the European Unio market; second, to analyse the competitiveness and the factors that influence the Indonesian cocoa exports to the EU market; third, to calculate the non-tariff barriers imposed by the European Union market for Indonesian cocoa. Methods used are the RCA index and gravity models. The differences between actual and potential trade flows are indicated as non-tariff barriers. Results of the calculation RCA is showed that all destinations of a cocoa export have a high competitiveness (RCA> 1) but tend to decrease. Results of the estimate gravity models show the factors influencing the Indonesian cocoa exports are the real per capita GDP of Indonesia and the destination country, CPI of destination countries, the economic distance, exchange rates, and tariff. The result of non-tariff barriers indicated that the Netherlands is the state which has the largest non-tariff barriers among the most other EU countries DOI: 10.15408/sjie.v5i1.3131
{"title":"Non-Tariff Barriers and Factors that influence The Indonesian Cocoa Export to Europe","authors":"Raditya Anggoro, W. Widyastutik","doi":"10.15408/SJIE.V5I1.3131","DOIUrl":"https://doi.org/10.15408/SJIE.V5I1.3131","url":null,"abstract":"The aim of this study are: first, to analyse the competitiveness of Indonesian cocoa in the European Unio market; second, to analyse the competitiveness and the factors that influence the Indonesian cocoa exports to the EU market; third, to calculate the non-tariff barriers imposed by the European Union market for Indonesian cocoa. Methods used are the RCA index and gravity models. The differences between actual and potential trade flows are indicated as non-tariff barriers. Results of the calculation RCA is showed that all destinations of a cocoa export have a high competitiveness (RCA> 1) but tend to decrease. Results of the estimate gravity models show the factors influencing the Indonesian cocoa exports are the real per capita GDP of Indonesia and the destination country, CPI of destination countries, the economic distance, exchange rates, and tariff. The result of non-tariff barriers indicated that the Netherlands is the state which has the largest non-tariff barriers among the most other EU countries DOI: 10.15408/sjie.v5i1.3131","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"1-14"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The aim of this research is to compare the Islamic stocks index performance between Malaysia and Indonesia using Sharpe method, Treynor method, and Jensen method. The result show that the Islamic stocks index performance in Indonesia –measured by Jakarta Islamic Index- is better than Malaysia if using Treynor and Jensen methods. Otherwise, using the Sharpe method show that Islamic stock index in Malaysia is better than Islamic stocks index in Indonesia. The implication from this result is the investor with enough funds recommended to invest in Indonesia, but the small investor can do the investment to Islamic stocks index in Malaysia. DOI: 10.15408/sjie.v5i1.3127
{"title":"Performance of Islamic Stocks Index: Comparative Studies Between Indonesia and Malaysia","authors":"Tulasmi Tulasmi, Rianto Rinda Trihariyanto","doi":"10.15408/SJIE.V5I1.3127","DOIUrl":"https://doi.org/10.15408/SJIE.V5I1.3127","url":null,"abstract":"The aim of this research is to compare the Islamic stocks index performance between Malaysia and Indonesia using Sharpe method, Treynor method, and Jensen method. The result show that the Islamic stocks index performance in Indonesia –measured by Jakarta Islamic Index- is better than Malaysia if using Treynor and Jensen methods. Otherwise, using the Sharpe method show that Islamic stock index in Malaysia is better than Islamic stocks index in Indonesia. The implication from this result is the investor with enough funds recommended to invest in Indonesia, but the small investor can do the investment to Islamic stocks index in Malaysia. DOI: 10.15408/sjie.v5i1.3127","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"69-82"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Based on measurements of several indicators including the level of community participation, community empowerment, repayment rate was good, cross reporting good, and the application of penalties in accordance with the applicable rules, the results show that with the program GLM people feel the difference in economic condition and social than before and after the program. This is a major discovery is valuable. The development strategy for the program GLM is divided into seven levels with the elements most important include: The need for equality of access to funds for all types of financial institutions, both banking and lending model-based group, the need to improve the quality of human resources as a pioneer of service models based lending group this, as well as the importance of financial inclusion in the entire financial system DOI: 10.15408/sjie.v5i1.3128
{"title":"Islamic Group Lending and Financial Inclusion","authors":"A. Rusydiana, Abrista Devi","doi":"10.15408/SJIE.V5I1.3128","DOIUrl":"https://doi.org/10.15408/SJIE.V5I1.3128","url":null,"abstract":"Based on measurements of several indicators including the level of community participation, community empowerment, repayment rate was good, cross reporting good, and the application of penalties in accordance with the applicable rules, the results show that with the program GLM people feel the difference in economic condition and social than before and after the program. This is a major discovery is valuable. The development strategy for the program GLM is divided into seven levels with the elements most important include: The need for equality of access to funds for all types of financial institutions, both banking and lending model-based group, the need to improve the quality of human resources as a pioneer of service models based lending group this, as well as the importance of financial inclusion in the entire financial system DOI: 10.15408/sjie.v5i1.3128","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"5 1","pages":"51-68"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this research is to measure efficiency level of sharia banking in Malysia and Indonesia countries and to analyze the factors affecting the level of efficiency of sharia banking for both countries. This reseach uses DEA (Data Envelopment Analysis) method in order to test the assumptions of Variabel Return to Scale (VRS), and uses Kolmogorov-Smirnov and Mann Whitney U-Test in order to test normality, and uses regression dummy variable of the data from the first quarter of 2011 until the fourth quarter of 2014. The research shows overall level of efficiency of sharia banking in Malaysia and Indonesia countries are fluctuating. Based on result, sharia banking in Indonesia more efficient than sharia banking in Malaysia; However, there is no significant differences among them. The reasons of this inefficiency are deposits, total financing, fixed asset, and personnel cost. However, operational income is the most efficient variabel for both countries DOI: 10.15408/sjie.v5i1.3129
{"title":"Islamic Banking Efficiency: Comparative Studies Between Malaysia and Indonesia","authors":"Ika Yulita, Sofyan Rizal","doi":"10.15408/SJIE.V5I1.3129","DOIUrl":"https://doi.org/10.15408/SJIE.V5I1.3129","url":null,"abstract":"The purpose of this research is to measure efficiency level of sharia banking in Malysia and Indonesia countries and to analyze the factors affecting the level of efficiency of sharia banking for both countries. This reseach uses DEA (Data Envelopment Analysis) method in order to test the assumptions of Variabel Return to Scale (VRS), and uses Kolmogorov-Smirnov and Mann Whitney U-Test in order to test normality, and uses regression dummy variable of the data from the first quarter of 2011 until the fourth quarter of 2014. The research shows overall level of efficiency of sharia banking in Malaysia and Indonesia countries are fluctuating. Based on result, sharia banking in Indonesia more efficient than sharia banking in Malaysia; However, there is no significant differences among them. The reasons of this inefficiency are deposits, total financing, fixed asset, and personnel cost. However, operational income is the most efficient variabel for both countries DOI: 10.15408/sjie.v5i1.3129","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"17 1","pages":"31-50"},"PeriodicalIF":0.0,"publicationDate":"2016-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67141599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Exchange rate is defined as a currency that can be exchange per unit to another currency, or the price of one currency to another currency. The purpose of this research is to know the effect of Inflation and investment to rupiah`s exchange rate in Indonesia. Variable which is used in this research is rupiah`s Exchange Rate to US dollar`s (ER), Inflation, Domestic Direct Investment (DDI), Foreign Direct Investment (FDI), and also Dummy crisis variable (DM) of Indonesia. The sources of the data are from Central Bank of Indonesia and Indonesia Statistical Base. OLS (Ordinary Least Square) method was used for analyzing in Eviews 5.1 program. The results of this research is to indicate inflation, foreign direct investment and dummy crisis that gave the positive influence to the rupiah`s exchange rate in Indonesia significantly. Meanwhile, domestic direct investment has not positive influence to the rupiah’s exchange rate in Indonesia significantly DOI: 10.15408/sjie.v2i1.2373
{"title":"Pengaruh Inflasi Dan Investasi Terhadap Nilai Tukar Rupiah","authors":"I. Istiqomah","doi":"10.15408/SJIE.V2I1.2373","DOIUrl":"https://doi.org/10.15408/SJIE.V2I1.2373","url":null,"abstract":"Exchange rate is defined as a currency that can be exchange per unit to another currency, or the price of one currency to another currency. The purpose of this research is to know the effect of Inflation and investment to rupiah`s exchange rate in Indonesia. Variable which is used in this research is rupiah`s Exchange Rate to US dollar`s (ER), Inflation, Domestic Direct Investment (DDI), Foreign Direct Investment (FDI), and also Dummy crisis variable (DM) of Indonesia. The sources of the data are from Central Bank of Indonesia and Indonesia Statistical Base. OLS (Ordinary Least Square) method was used for analyzing in Eviews 5.1 program. The results of this research is to indicate inflation, foreign direct investment and dummy crisis that gave the positive influence to the rupiah`s exchange rate in Indonesia significantly. Meanwhile, domestic direct investment has not positive influence to the rupiah’s exchange rate in Indonesia significantly DOI: 10.15408/sjie.v2i1.2373","PeriodicalId":31086,"journal":{"name":"Signifikan","volume":"2 1","pages":"194664"},"PeriodicalIF":0.0,"publicationDate":"2016-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67140536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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