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Fredean Fahenzi Kholid; Elyanti Rosmanidar; Eja Armaz Hardi

Jurnal Inovasi Ekonomi Syariah dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

In this research. conducted a study Analysis of Factors Affecting the Performance of Fixed Income Mutual Funds Sharia in Indonesia for the 2019-2023 Period. In this study using Quantitative methods and the data analysis method used is Multiple Linear Regression. Research results The results showed that inflation, exchange rates, and interest rates gave a negative significant value, so it does not contribute well to sharia fixed income mutual funds, while the money supply has a positive effect. while the amount of money in circulation has a positive effect on sharia fixed income mutual funds. The results of the calculation of the coefficient of determination shows that 43.1% of the value of Islamic fixed income mutual funds is influenced by inflation, exchange rates, money supply and interest rates.

Nurwidina Rahayu; Rudi Sanjaya

Riset Ilmu Manajemen Bisnis dan Akuntansi 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the effect of BI Rate, Rupiah exchange rate, and accounting profit on the Composite Stock Price Index (IHSG) in Indonesia. As one of the main indicators in the capital market, IHSG reflects the overall stock market performance and is influenced by various macro and micro economic factors. BI Rate as the reference interest rate, Rupiah exchange rate as an indicator of currency exchange rate, and accounting profit as a measure of company performance have high relevance to the movement of IHSG. This study uses a literature review method by referring to various previous studies that discuss the relationship between these variables. The results of the analysis show that the three variables have a significant influence on IHSG, both directly and indirectly. BI Rate and Rupiah exchange rate affect IHSG through financial market mechanisms, while accounting profit is more related to investment decisions and individual company performance. These findings provide insight for investors, policy makers, and academics to understand the dynamics of the relationship between economic indicators and stock market performance in Indonesia.

Abdul Aziz Mizanul Amal; Abdurrahman Faiz; Muhammad Adi Bintara; Rasidah Novita Sari

Jurnal Nuansa : Publikasi Ilmu Manajemen dan Ekonomi Syariah 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Sukuk as an Islamic financial instrument plays a strategic role in supporting monetary stability in Indonesia. This study explores the relationship between sukuk and monetary policy variables, such as inflation, exchange rate, and economic growth. Sukuk has proven to be a stable instrument that supports sustainable development by mitigating external debt risks. Through the analysis of the monetary policy transmission mechanism, this study identifies the role of sukuk in asset price and exchange rate channels. The results show that sukuk has a positive impact on monetary stability and long-term economic growth.

Siti Mardiyani; Jihan Nabila; Andri Kurniawan; Ari Elfrian; Zakya Maulani +2 more

Jurnal Ekonomi dan Keuangan 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study examines the dynamics of monetary policy and economic diplomacy in maintaining the stability of the Rupiah exchange rate in the context of Indonesia’s international financial market. Indonesia’s economic stability is closely tied to the Rupiah’s value, which is influenced by both domestic economic policies and external global factors. The study analyzes the effectiveness of various monetary policy instruments used by Bank Indonesia, such as the benchmark interest rate, foreign exchange market interventions, open market operations, and minimum reserve requirements. Furthermore, it explores the role of economic diplomacy, including bilateral swap agreements and international cooperation, in enhancing Indonesia's foreign exchange reserves and stabilizing the Rupiah. Despite these efforts, external challenges such as global economic uncertainty, commodity price volatility, and geopolitical tensions continue to pose risks to exchange rate stability. The study concludes with strategic recommendations for strengthening monetary policy, including diversification of foreign exchange revenue, enhancing domestic financial markets, and fostering synergy between fiscal and monetary policies.

Wardah Yuni Kartika; Raju Pratama; Ibnu Majjah Arifin; Alhamida Alhamida; Wismanto Wismanto

Jurnal Mahasiswa Kreatif 2024 International Forum of Researchers and Lecturers

Hawalah is a debt transfer method that originates from Islamic traditions and is increasingly relevant in the modern business context, especially in international transactions. The background of this research focuses on the importance of understanding and executing effective hawalah to overcome the challenges faced by business actors, such as multiplying exchange rates and payment risks. The aim of this research is to explore the implementation of hawalah in business and identify the factors that influence its effectiveness. The research method used is a qualitative approach, with data collection through in-depth interviews with business people and document analysis from related literature. The research results show that a deep understanding of the hawalah mechanism is very necessary, and information technology support has been proven to increase transaction efficiency and transparency. However, challenges related to data security and the lack of clear regulations are still obstacles. The discussion underscored the importance of education, collaboration with trusted financial institutions, and building trust between the parties involved in the transaction. Overall, hawalah has great potential to support economic growth, especially for small and medium businesses, with the right strategy and in-depth understanding. It is hoped that this research can contribute to the development of knowledge and business practices in the field of sharia economics.

Serliani Lubis; Aufilana Rohmatika; Siti Aliyah; Rasidah Novita Sari

Jurnal Ekonomi dan Keuangan 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Exchange rate stability is an important indicator in maintaining the balance of a country's economy, especially in facing global market dynamics. This research aims to analyze the effectiveness of sharia monetary policy instruments in maintaining exchange rate stability, with a focus on the principles of justice, transparency and stability which are the basis of the Islamic economic system. Instruments such as sukuk, mudarabah contracts, and ijarah are analyzed from theoretical and empirical perspectives to measure their impact on exchange rate fluctuations. This study uses a qualitative approach with analysis of secondary data obtained from various economic reports, scientific journals and related statistical data. The research results show that sharia monetary policy has significant potential in mitigating exchange rate volatility through stable liquidity management and a system free from speculation. Consistent implementation of sharia principles can also increase market confidence in the domestic currency. Furthermore, this research finds that integration between sharia monetary policy and conventional approaches can create synergy in maintaining exchange rate stability. This collaboration allows the monetary authority to be more flexible in responding to global economic challenges without abandoning sharia principles. Apart from that, educating market players regarding the benefits of sharia monetary policy is considered important to expand the adoption of this instrument. This study concludes that the successful implementation of sharia monetary policy is highly dependent on the commitment of the government and regulators in providing a conducive ecosystem, including financial infrastructure, strengthening regulations, and integrated policy support. This research provides theoretical and practical contributions in the development of sharia-based monetary policy in countries with dual economic systems.

Ahmad Fadlan; Rahmad Sembiring; Ira Gretti Hutagalung

International Journal of Economic, Social and Development Sciences 2024 International Forum of Researchers and Lecturers

The money supply can affect other economic variables, such as output and prices, create stability in the economy and help achieve the ultimate goal of monetary policy, namely the stability of inflation and exchange rates.  The level of the exchange rate by the monetary authority must be kept stable because an unstable exchange rate, especially one that experiences a sharp depreciation, can have financial crisis implications. This research approach was associative/quantitative research. The data used in this study are secondary data taken and processed from Bank Indonesia (BI) and the Central Statistics Agency (CSA) from 2013-2023 (11 years). Based on the results of regression analysis shows that the variable money supply, exchange rates, and interest rates simultaneously affect the inflation variable. Based on the results of regression analysis shows that the variable money supply has a positive and significant effect on inflation. Based on the results of regression analysis, the exchange rate variable has a negative and significant effect on inflation. Based on the regression analysis, the interest rate variable has no statistical effect on inflation.

Farid Maulana; Maziyah Farhah; Elmesie Berlentie; Rasidah Novita Sari

Jurnal Ekonomi dan Keuangan Islam 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The development of the National Capital City (IKN) triggers an increase in demand for goods and services, especially in the construction and basic needs sectors, which can cause a spike in regional and national inflation. Monetary policy faces new challenges, including increasing interest rates and the risk of rupiah exchange rate volatility due to dependence on foreign debt financing. These projects also influence economic distribution, creating investment opportunities, but potentially increasing economic inequality. This research emphasizes the importance of coordination between monetary and fiscal policies to mitigate negative impacts on national economic stability.

Dina Nur Ayifa; Ulfa Ulfa; M. Masrukhan

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to assess the impact of exchange rate fluctuations on the consolidated statements of PT Mayora Indah Tbk. At PT Mayora Indah Tbk, exchange rate fluctuations have a major influence on financial statements, this can happen because of the influence of global commodity prices where subsidiaries are located abroad, third party cooperation for export sales, loans and also the cost of purchasing the main raw materials for the company's production. The method used in this research is qualitative research, where the object of research is PT Mayora Indah Tbk. Collecting data and information using library research methods and PT Mayora Indah Tbk data taken from the annual consolidated financial statements of PT Mayora Indah Tbk. The results showed that the treatment of foreign exchange and foreign currency differences at PT Mayora Indah Tbk, is in accordance with the applicable PSAK.

Dr. Faten Saeed Hameed

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The research is concerned with analyzing and measuring the impact of exchange ratechanges and their repercussions on local investment in Iraq during the period (2004-2022), asthe relationship between them is affected by global economic conditions such as high or lowoil prices and demand for the exchange rate internationally, as the response of the investmentsectors in Iraq to changes in the exchange rate varies, as the decline in the exchange rateencourages investment in the export sector and proves investments in the import-dependentsector, unlike its rise, which negatively affects the local economy The authorities are workingto take some measures and procedures such as providing financial support and incentives tosupport projects and thus promote local investment, as well as the political and securityfluctuations in Iraq that affect investor confidence and investment decisions and thus affecteconomic stability, and the relationship between local investment in Iraq and exchange ratechanges is somewhat complicated as they are affected by each other, so the monetaryauthority and investors must understand this relationship and understand its strategies in away that enhances and supports the investment climate in the Iraqi economy, Domesticinvestment and the exchange rate significantly affect the economic relations described in theARDL model , so it is recommended to develop fiscal and monetary economic policies thatsupport domestic investments and improve exchange rate stability to achieve moresustainable economic results.

Marwa Allawi Naji

International Journal of Economics and Accounting 2024 International Forum of Researchers and Lecturers

This research seeks to illustrate the effects of rate of exchange volatility on Iraq's trade balance .The report examines currency rates in Iraq from 2010 to 2022, including both official and parallel values. The study addresses the trade balance, encompassing exports and imports, and investigates the impact of exchange rate fluctuations on trade performance through the ARDL model. It demonstrates a direct relationship between the two variables and confirms the absence of autocorrelation issues. Formulating a series of results and recommendations.

Anak Agung Istri Prami Suari Pemayun; Anak Agung Bagus Putu Widanta

International Journal of Economics and Management Sciences 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Crude Oil, which has long been a mainstay sector in Indonesia's exports, contributes greatly to state revenue, thus driving the pace of national economic growth. In the context of the Indonesian economy, the crude oil industry plays an indispensable role, especially over the past few decades. This study aims to identify the factors that affect the volume of Indonesia's crude oil exports to nine main destination countries—including Japan, South Korea, China, Thailand, Singapore, Malaysia, Australia, the United States, and Taiwan—in the period from 2003 to 2022. Some of the variables analyzed include exchange rates, foreign investment, production, and world oil prices. Through the regression analysis method of panel data, the results of this study indicate that simultaneously, exchange rates, foreign investment, production, and world oil prices have a significant effect on Indonesia's crude oil exports to these countries. Separately, the world exchange rate and oil price variables had a significant negative influence on Indonesia's crude oil export volume, while the foreign investment and production variables showed a positive and significant influence on export volume during the 2003-2022 research period.

Nauva Safitri; Ni Ketut Enik Fitalia; Nina Fitriani; Rieska Dian Uthami; Novia Rizki

Jurnal Kendali Akuntansi 2024 International Forum of Researchers and Lecturers

This research is motivated by the need for PT Sumi Indo Kabel Tbk to manage foreign currency transactions in line with the increase in international trade and exchange rate fluctuations. Foreign currency transactions can affect the company's financial statements, especially in the recognition of profit or loss due to changes in exchange rates. The purpose of this study is to analyze the application of foreign currency transaction accounting at PT Sumi Indo Kabel Tbk based on Statement of Financial Accounting Standards (PSAK) 221 on the Effect of Changes in Foreign Exchange Rates. The research method used is descriptive quantitative, using secondary data obtained from the company's annual financial statements. The results showed that PT Sumi Indo Kabel Tbk has implemented PSAK 221 properly, recorded foreign currency transactions at the prevailing exchange rate and recognized the exchange difference in the income statement. However, the company still faces the risk of significant exchange rate fluctuations, which requires a more comprehensive risk management strategy. The conclusion of this study is that consistent implementation of PSAK 221 can help companies improve the transparency of financial statements and reduce the negative impact of exchange rate fluctuations on financial performance..

Fauzia Bakhtiar; Anggi Somba Poddala; Miftha Farild; Wahyudi Wahyudi

International Journal of Entrepreneurship and Management 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Exchange rate is defined as the currency that can be exchanged per unit to another currency, or the price of one currency to another currency. The purpose of this study is to determine the effect of inflation, interest rates and investment on exchange rates in five ASEAN countries, namely Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The variables used in this study are exchange rates, inflation, interest rates and investment as moderating variables. Data sources come from World Development Indicators and Investing.com. The analysis used is multiple linear analysis with the help of SPSS 22 software. The results of this study indicate that inflation and interest rates have no effect on investment. In addition, inflation, interest rates and investment have no effect on exchange rates in five ASEAN countries. Then, the effect of inflation and interest rates on exchange rates through investment also does not have a significant effect.

Ahmad Fadlan; Rahmad Sembiring; Ira Gretti Hutagalung

International Journal of Islamic and Economic Education 2024 International Forum of Researchers and Lecturers

The money supply can affect other economic variables, such as output and prices, create stability in the economy and help achieve the ultimate goal of monetary policy, namely the stability of inflation and exchange rates.  The level of the exchange rate by the monetary authority must be kept stable because an unstable exchange rate, especially one that experiences a sharp depreciation, can have financial crisis implications. This research approach was associative/quantitative research. The data used in this study are secondary data taken and processed from Bank Indonesia (BI) and the Central Statistics Agency (CSA) from 2013-2023 (11 years). Based on the results of regression analysis shows that the variable money supply, exchange rates, and interest rates simultaneously affect the inflation variable. Based on the results of regression analysis shows that the variable money supply has a positive and significant effect on inflation. Based on the results of regression analysis, the exchange rate variable has a negative and significant effect on inflation. Based on the regression analysis, the interest rate variable has no statistical effect on inflation.

Nonius Apriliano; Hannaan Nabih Krisna; Zahra Radhina; Anna Charlita Lay

Jurnal Manajemen dan Ekonomi Bisnis 2024 Pusat Riset dan Inovasi Nasional

Inflation is a complex economic phenomenon and has a broad impact, including on a country's import policy. When inflation occurs, domestic prices of goods and services increase, thereby increasing production and consumption costs. As a result, producers must increase product prices to maintain profit margins, which can reduce domestic demand and increase demand for imports because local prices become more expensive than imported goods. In addition, inflation also weakens the value of a country's currency, increases the demand for foreign exchange to pay for imports, and worsens the exchange rate. Countries with high inflation rates often experience trade deficits due to a surge in imports and a decline in exports, which in turn depletes foreign exchange reserves because they are needed to pay foreign debt and import goods that are needed but can no longer be exported. To overcome inflation, countries can adjust their strategies. import with more effective measures. Several steps that can be taken include: (1) Optimizing the Import List, namely prioritizing essential goods that are difficult to re-export; (2) Negotiation of Import Tariffs, with the aim of reducing import costs and increasing trade flexibility; and (3) Investment in the Local Manufacturing Sector, in order to reduce dependence on imports and increase domestic competitiveness. With this strategy, import policies can be anticipated and prepared proactively to be more effective in dealing with inflationary conditions. This abstract discusses the impact of inflation on import policies and strategies to deal with it, such as optimizing import lists, negotiating import tariffs, and investing in the local manufacturing sector.

Nuri Rahayu Ningsih; Andria Zulfa; Bakhtiar Efendi; Lia Nazliana Nasution; Rusiadi Rusiadi

International Journal of Economics, Commerce, and Management 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Using a quantitative approach, this study investigates the effect of port export and import volumes on economic growth in North Sumatra and West Sumatra Provinces. Time series data from the World Bank and the Central Statistics Agency (BPS) from 2006 to 2023 are used as secondary data. The analysis uses the ARDL Panel model, which allows for analysis of data dynamics across time and regions. The results show that the three main indicators that affect economic growth (GRDP) in both provinces, both in the short and long term, are export volume, inflation, and exchange rates. In North Sumatra, export volume has a positive impact on GRDP, while import volume has a negative impact, indicating a risk of dependence on imports. Controlled inflation also has a positive impact, while the exchange rate shows a diversion. Policy recommendations are expected to improve global competitiveness and exchange rate stability through coordination of fiscal and monetary policies, support for the Export Capacity Building Program and MSMEs through the Regional Comprehensive Economic Framework (RCEP), and export diversification to reduce dependence on certain commodities. This study emphasizes that policies that are responsive to changes in trade at the national to international levels are an important foundation for stabilizing sustainable economic growth.

Miftha Farild; Anggi Somba Poddala; Azizah Saban

International Journal of Economics and Management Sciences 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to determine and analyze stock prices by looking at the direct and indirect effects between inflation, interest rates, exchange rates, ROA and stock prices in Islamic Banks in Indonesia. This study uses panel data regression with variables of inflation, interest rates, exchange rates, ROA, and stock prices with data analysis using SPSS 22 software. The period of this study is 2020-2022. The results of this study indicate that inflation, interest rates, and exchange rates are significant to ROA. Inflation and ROA are directly significant to stock prices. Meanwhile, interest rates and exchange rates directly have no effect on stock prices. For the indirect relationship between inflation, interest rates, and exchange rates affect stock prices through ROA.

Anwer Mezher Hamdaullah Al-Adhimi

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This research aims to investigate whether the exchange rates and inflation in Iraq have a long-term equilibrium relationship or not. A dataset of exchange rates and inflation from 2000 to 2020 was used. Johansen’s cointegration test was employed to confirm that there is a long-term correlation between these variables. The Vector Error Correction Model (VECM) was utilized, along with Granger causality tests, to understand the long and short run connections and to determine if the causality flow is bidirectional or unidirectional. The results provided proof of a long-run equilibrium connection among inflation and rates of exchange, with strong evidence of a unidirectional causal flow from rates of exchange to inflation in Iraq.

Ivan William Saragi; I Nyoman Mahaendra Yasa

International Journal of Economics, Commerce, and Management 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Indonesia is the first palm oil producing country and palm oil exporter in the world. In recent years, the volume of Indonesian palm oil exports has decreased. The determinants of the volume of Indonesian palm oil exports are the United States dollar exchange rate, the area of ​​Indonesian palm oil plantations, and the price of CPO. This research aims to analyze the influence of the United States dollar exchange rate, oil palm land area, and CPO prices in the short term and long term, simultaneously and partially on the volume of Indonesian palm oil exports. The type of data in this research is secondary data in the form of quantitative data obtained from the Indonesian Central Statistics Agency (BPS), Bank Indonesia and the World Bank. This research was conducted in Indonesia from 1994-2023, with a total of 30 observations. The data analysis technique used is the Error Correction Model (ECM). The results of the research show that the US dollar exchange rate and the area of ​​Indonesian palm oil plantations in the short and long term have a significant effect, while the CPO price has an insignificant effect on the volume of Indonesian palm oil exports. The United States dollar exchange rate, the area of ​​Indonesian palm oil plantations, and the price of CPO simultaneously influence the volume of Indonesian palm oil exports. The United States dollar exchange rate has a partially negative and significant effect on the volume of Indonesian palm oil exports. The area of ​​Indonesian oil palm land has a partially positive and significant effect on the volume of Indonesian palm oil exports. CPO prices have a negative and partially insignificant effect on the volume of Indonesian palm oil exports.