Mulya Siregar - Academia.edu (original) (raw)

Papers by Mulya Siregar

Iqtisad (Yogyakarta), May 7, 2009

Even though shariah banking has been legally exist in Indonesia since 1992, its development still... more Even though shariah banking has been legally exist in Indonesia since 1992, its development still face some constraints Actually, the development of shariah banking is an soundness of national integral part of developing banking system and strengthening the economic fundamental. So, a good cooperation among stakeholder of shariah banking is strongly needed a market driven, fair treatment, gradual and sustainable, and Islamic values oriented policy are important paradigm for developing a sound shariah banking system. Besides evaluating economic performance of shariah bank and predicting its prospect in the future, this paper also discuss the paradigm, direction and strategic policy for developing shariah banking in Indonesia.

The main goal of this study is to have a better understanding of the fectors that influence a bor... more The main goal of this study is to have a better understanding of the fectors that influence a borrower to choose a particular type of mortgage loan, this study incorporates history and theory with newer econometric methods in the time series analysis of mortgage choice. The Brueckner (1986) theoretical model o f ARM-FRM choice provides the basic theoretical structure. This study shows that certain historical events profoundly impact Brueckner theoretical predictions. The choice of mortgage loans is investigated from both the borrower's and lender's points of view. This study is based upon the fixed-adjustable interest rate spread influencing mortgage-choice model, the spread and other factors influencing mortgage choice model and interest-rate expectations influencing the fixed-adjustable interest rate spread model. Moreover, this study employs the switching-regression technique of Goldfeld and Quandt (1973) to examine whether there are any regime shifts or partitions in each of the three models. Then, unit-root tests are conducted on the series in each partition of a model If the series are integrated of order one. co-integration tests are conducted in each partition of the model Finally, when the series in each partition have long-run relationships. Granger causality tests are conducted. Several conclusions were reached: 1. The spread positively influences the borrower to choose an ARM loan. However, the borrower does not always consider the spread in choosing an ARM loan, because certain historical events may lead the consumer to ignore the spread. 2. The empirical results show that the consumer confidence index and income growth positively influence the borrower to choose an ARM loan, while the affordability index has a negative impact on the choice of an ARM loan. However, these three factors, together with the spread, seem not to play a role in the choice of an ARM loan, when the U.S. economy is in recession. 3. The lender does not make any spread adjustments when interest-rate expectations change. In addition, neither the lender makes any spread adjustments when he or she observes changes in consumer choice. 4. The demand side appears to dominate the supply side of the mortgage market, as the borrower is responding to changes in spread and other factors, and the lender is not responding to changes in consumer choice and interest-rate expectations.

Buletin ekonomi moneter dan perbankan, Oct 11, 2003

Zenodo (CERN European Organization for Nuclear Research), Feb 21, 2023

To be able to achieve the best level of efficiency, the bank must be able to manage the inputs ow... more To be able to achieve the best level of efficiency, the bank must be able to manage the inputs owned and the outputs produced in between. In addition, banks must also be able to manage operational costs and operating income. In this analysis of efficiency is calculation of the ratio between input and output variables. This research is using nonparametric Data Envelopment Analysis (DEA) for bank in Indonesia in group level two (BUKU II) banks which registered at IDX with period of analysis in 2014-2018. To analyze its efficiency by using intermediary approach. The sample analysis are taken from all population banks in BUKU II that already go public, which consist of two sharia banks, and sixteen conventional banks (four foreign banks, one state-owned bank and eleven national private banks). The results of the study indicate that there are several banks that are able to achieve a level of efficiency both using the intermediation approach. In 2014, there were four banks that were able to achieve efficiency levels. In 2015 and 2016, only three banks was able to achieve efficiency levels. However, in 2017 only two banks was able to reach the level of efficiency. In 2018 there were four banks that were able to achieve a level of efficiency using the intemediation. The results of this study are expected to be useful for evaluating the level of efficiency that occurs in banks in Indonesia

library.usu.ac.id

... Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringa... more ... Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat ... Gambar 1. Hasil Uji Hayati pada Tanaman Indikator C. amaranticolor dari Tanaman Cabai Sampel yang Terinfeksi CMV ...

International Journal of Islamic Economics and Finance (IJIEF)

The Environmental, Social and Governance (ESG) index is rising in popularity globally especially ... more The Environmental, Social and Governance (ESG) index is rising in popularity globally especially in Indonesia. This study attempts to prove that ESG equity is less volatile than non-ESG equity, since specific components of ESG are essentially parts of the Shariah values. Using data from 2009 through 2020, the Vector Error Correction Model (VECM) method was utilized to further investigate the link between ESG and other endogenous variables such as the DJIM (Dow Jones Islamic Market), Fed rate, JCI (Jakarta Composite Index) index, exchange rate, and BI rate. The results show that all internal and external variables significantly influence ESG equity in very low magnitude, except for DJIM negatively and Fed rate positively. However, the IRF findings reveal what transpired to the ESG equity, which was able to endure shocks from both internal and external simultaneously, and to stabilize more swiftly. Moreover, the FEVD results shows that all internal and external variables have little i...

Siregar, Mulya E, The Ohio State University, 1998

The main goal of this study is to have a better understanding of the fectors that influence a b... more The main goal of this study is to have a better understanding of the fectors that
influence a borrower to choose a particular type of mortgage loan, this study incorporates
history and theory with newer econometric methods in the time series analysis of
mortgage choice. The Brueckner (1986) theoretical model o f ARM-FRM choice provides
the basic theoretical structure. This study shows that certain historical events profoundly
impact Brueckner theoretical predictions.
The choice of mortgage loans is investigated from both the borrower's and lender's
points of view. This study is based upon the fixed-adjustable interest rate spread
influencing mortgage-choice model, the spread and other factors influencing mortgage choice model and interest-rate expectations influencing the fixed-adjustable interest rate spread model. Moreover, this study employs the switching-regression technique of
Goldfeld and Quandt (1973) to examine whether there are any regime shifts or partitions
in each of the three models. Then, unit-root tests are conducted on the series in each
partition of a model If the series are integrated of order one. co-integration tests are
conducted in each partition of the model Finally, when the series in each partition have
long-run relationships. Granger causality tests are conducted.
Several conclusions were reached:
1. The spread positively influences the borrower to choose an ARM loan. However, the
borrower does not always consider the spread in choosing an ARM loan, because
certain historical events may lead the consumer to ignore the spread.
2. The empirical results show that the consumer confidence index and income growth
positively influence the borrower to choose an ARM loan, while the affordability
index has a negative impact on the choice of an ARM loan. However, these three
factors, together with the spread, seem not to play a role in the choice of an ARM
loan, when the U.S. economy is in recession.
3. The lender does not make any spread adjustments when interest-rate expectations
change. In addition, neither the lender makes any spread adjustments when he or she
observes changes in consumer choice.
4. The demand side appears to dominate the supply side of the mortgage market, as the
borrower is responding to changes in spread and other factors, and the lender is not
responding to changes in consumer choice and interest-rate expectations.

JURNAL EKONOMI, MANAJEMEN, BISNIS, DAN SOSIAL (EMBISS), Feb 28, 2021

Sefarad, 2012

Islamic bank is part of banking system which its activity character and operation system differ f... more Islamic bank is part of banking system which its activity character and operation system differ from that of conventional bank, so there is a need of regulation especially for operational system of Islamic banking. The objective is to comply to sharia principle. Yet, some current regulations have not met with the nature of business of Islamic bank in which interest rate and speculative business are not recognized, but it gives the highest priority to return sharing principle in partnership and justice. Islamic bank character prohibits interest (riba), future trading or unreal transaction (gharar) and speculative transaction (maysir). The prominent principle of Islamic banking transaction lies on every transaction that must be backed up by real underlying assets will link together between the growth of financial sector and that of real sector. Therefore derivative transactions known as buying without paying and selling without owning must be avoided by the sharia banker. Such eminent issues to have influence on development of sharia bank as (1) establishment organization and mechanism of international Islamic money market, and (2) for the moment in which 18 member countries of IMF are preparing for establishment of Islamic Financial Services Board (IFSB), an international institution that will release prudential regulation for Islamic bank. These issues are relevant to discerning the future policy of sharia bank.

Proceedings of the Business Innovation and Engineering Conference 2020 (BIEC 2020), 2021

There are several approaches that can be used to explain the relationship between input and outpu... more There are several approaches that can be used to explain the relationship between input and output from financial institutions, namely the production approach and the intermediation approach. Technical efficiency reflects the ability of the company to produce output with a number of available inputs. Whereas allocative efficiency reflects the company's ability to optimize the use of its inputs, with its price structure and production technology. These two measures are then combined into economic efficiency (economic efficiency). This research was conducted at eighteen banks included in the BUKU II Go Public Bank group in Indonesia. The study was conducted using secondary data from January 2014 to December 2018. To analyze the factors that influence the efficiency of intermediation and production approach, it is processed using Panel Data Regression analysis. The results of the research that have been carried out show that a significant factor affecting efficiency based on the intermediation approach is the number of variations in electronic banking and the number of Automatic Teller Machine. The significant factors affecting efficiency based on the production approach are total assets, the score of good corporate governance, the number of Automatic Teller Machine and the number of management

This paper intergrates themes from external and internal factors that influence Bank Brisyariah’s... more This paper intergrates themes from external and internal factors that influence Bank Brisyariah’s nonperforming financing (NPF) periods from the first quarter 2010 to second quarter 2017 by using a descriptive analysis approach and multiple regression analysis. External variables consist of inflation rates, benchmark interest rate/BI rates, economic growth, and USD/IDR exchange rate, while internal factors consist of return on asset (ROA), net income margin (NIM), financing growth, financing to deposit ratio (FDR), and NPF management. Based on these methodologies, four significant factors are utilized: 1) NPF on commercial financing influenced sequentially by net interest margin (NIM), financing to deposits ratio (FDR), NPF management, benchmark interest rate, inflation and economic growth level; 2) NPF on retail consumers influenced by financing growth factors, benchmark interest rates, and inflation; 3) NPF on small and medium retail enterprises (SME) significantly influenced by f...

This efficiency is a calculation of the ratio between input and output variables. This research i... more This efficiency is a calculation of the ratio between input and output variables. This research is using non-parametric Data Envelopment Analysis (DEA) for General Banks of Business Activities (BUKU) level two banks registered at IDX with the period of analysis in 20142018. To analyze its efficiency by using an intermediary approach, there are two variables that consist of input variables i.e. labor cost, third party funds and fixed asset, and the output variables i.e. total financing, operating income and current assets. The sample analysis is taken from all population banks in BUKU II that already Go Public, which consists of two sharia banks, and sixteen conventional banks (four foreign banks, one state-owned bank and eleven national private banks). The result of this study shown that foreign banks and the national private banks had consistency and a better level of efficiency compared to other bank during 2014-2018. Shariah bank was able to achieve the best level of efficiency (...

Jurnal Ilmiah Inovasi, 2016

Salah satu kabupaten di jawa timur yang berperan sebagai penghasil terbesar dalam bidang pertemba... more Salah satu kabupaten di jawa timur yang berperan sebagai penghasil terbesar dalam bidang pertembakauan adalah kabupaten jember. Sebagai kabupaten yang menghasilkan tembakau terbesar, perlu dilakukan pengembangan terhadap industri tembakau. Dalam proses pengembangan tersebut perlu dilakukan identifikasi dan analisa terhadap faktor internal dan eksternal yang dapat mempengaruhi industri pertembakauan. Dalam mengidentifikasi dan menganalisa faktor-faktor tersebut digunakan metode analisis deskriptif. Data dalam penelitian diperoleh dengan menggunakan kuesioner, wawancara, dan studi literatur. Kabupaten Jember untuk mengembangkan tembakau adalah sarana prasarana, peran APTI, peran kelompok tani, pemasaran, pembinaan, dan budaya tanam tembakau. Sedangkan yang menjadi kelemahan Kabupaten Jember adalah perubahan anomali iklim, pengetahuan teknis petani, hama penyakit, permodalan, dan penentuan harga oleh perusahaan. Peluang dari luar adalah permintaan pasar, DBH-CHT, dan perkembangan tekno...

Financial Innovation, 2015

Background Online peer-to-peer lending (P2P lending) is booming as the popularity of e-finance. T... more Background Online peer-to-peer lending (P2P lending) is booming as the popularity of e-finance. To develop a conceptual model for the P2P lending process is great valuable for managers to tack the issues of marketing, management and operation. Methods In this paper, we focus on the P2P lending process model and provide a comparative analysis comparing with traditional bank loan process. Results Firstly, our model shows that the information flow in P2P lending is more frequent and transparent. Secondly, the model reveals that P2P lending uses a quite different credit audition method, which relies on information and the decision model in the P2P systems. Thirdly, the loan management is not complete normally in P2P lending, because most P2P companies do not have the post-loan records of borrowers. Conclusions These findings inspire future studies and practices on P2P lending process and key technologies.

Jurnal Aplikasi Bisnis dan Manajemen

Jurnal Aplikasi Bisnis dan Manajemen

International Business Management

To be able to achieve the best level of efficiency, the bank must be able to manage the inputs ow... more To be able to achieve the best level of efficiency, the bank must be able to manage the inputs owned and the outputs produced in between. In addition, banks must also be able to manage operational costs and operating income. In this analysis of efficiency is calculation of the ratio between input and output variables. This research is using non-parametric Data Envelopment Analysis (DEA) for bank in Indonesia in group level two (BUKU II) banks which registered at IDX with period of analysis in 2014-2018. To analyze its efficiency by using intermediary and production approach. The sample analysis are taken from all population banks in BUKU II that already go public which consist of two sharia banks and sixteen conventional banks (four Foreign banks, one state-owned bank and eleven national private banks). The results of the study indicate that there are several banks that are able to achieve a level of efficiency both using the intermediation approach and also the production approach. In 2014, there were two Foreign banks that were able to achieve efficiency levels. In 2015, only one Foreign bank was able to achieve efficiency levels. However, in 2016 and 2017 none of the banks was able to reach the level of efficiency. In 2018 there were three banks that were able to achieve a level of efficiency using the intemediation and production approach, namely one sharia bank and two Foreign banks. The results of this study are expected to be useful for evaluating the level of efficiency that occurs in banks in Indonesia

Indonesian Journal of Business and Entrepreneurship

This study integrates the determinant factors of external and internal factors that affect the Ba... more This study integrates the determinant factors of external and internal factors that affect the Bank BRISyariah Non-Performing Financing (NPF) in the period of Quarter I 2010 to Quarter IV 2017 by using multiple regression analysis. The external variables themselves consist of Inflation Rate, Benchmark Interest Rate/BI Rate, Economic Growth and USD/IDR Exchange Rate while internal factors consist of Return on Assets (ROA), Net Income Margin (NIM), Growth Financing, Financing to Deposit Ratio (FDR), Bank Rating (consisting of Good Corporate Governance, Risk Profile, Profitability and Capital) and NPF Management/NPF handling. Based on this methodology, the results with multiple regression analysis indicate that under existing contracts or financing contracts, the influencing factors are that 1) NPF in murabahah contract is influenced by bank rating-good corporate governance, exchange rate and benchmark interest rate; 2) NPF in ishtisna contract is influenced by bank rating-risk profile, bank rating-good corporate governance, NPF handling and inflation rate; 3) NPF in qardh contract is influenced by bank rating-rentability; 4) NPF in mudharabah/musyarakah contract is influenced by the rate of inflation; 5) NPF in ijarah contract is influenced by bank rating-risk profile, bank rating-good corporate governance, bank rating-rentability, financing growth and inflation rate. This research produces external and internal factors that need to get attention in order to handle non-performing financing based on financing contract better.

Open Journal of Business and Management

This study aims to determine the strategy for non-performing financing management on financing in... more This study aims to determine the strategy for non-performing financing management on financing in Islamic banks based on the economic sector of financing. This study was specifically carried out at the BRI Syariah Bank in the period 2010 to 2017, using the Analytical Hierarchy Process (AHP) in determining its handling strategy with the involvement of nine experts as respondents with the background of three people from Islamic bank practitioners, three people from the profession academics or lecturer staff, and three people from the sharia banking authority or regulator. In the formulation of strategies for handling non-performing financing in financing, it is divided into five levels, namely level 1) goal, level 2) economic sector, level 3) factor, level 4) actor, level 5) program. The results showed that the economic sector that needs attention with a high level of importance is the trade, restaurant and hotel sector with a weight of 0.197, followed by the construction sector with a weight of 0.189 and the industrial sector with a weight of 0.168. An important factor that needs attention regarding non-performing financing is the handling of NPF with a weight of 0.243, followed by bank rating of the bank-a risk profile with a weight of 0.217 and Indonesia's economic growth with a weight of 0.148. The actors who play an important role in handling non-performing financing are directors with a weight of 0.300 followed by work units with a weight of 0.178 and economic conditions with a weight of 0.144. The most important non-performing financing management program is intensive collection with a weight of 0.340, then the restructuring with a weight of 0.312 and collateral sales with a weight of 0.151.

Buletin Ekonomi Moneter dan Perbankan, 2003

Salah satu pernyataan mantan presiden dalam pembukaan Musyawarah Kerja Nasional I Lembaga Pengelo... more Salah satu pernyataan mantan presiden dalam pembukaan Musyawarah Kerja Nasional I Lembaga Pengelolaan ZIS-Forum Zakat pada bulan Januari tahun silam adalah: “Lembagalembaga itu masih perlu berusaha untuk menyadarkan umat Islam tentang kewajibannya menunaikan zakat serta memberikan infak dan sedekah.” Sejalan dengan pernyataan tersebut memang harus diakui bahwa sebagian besar umat cenderung hanya bersedia mengeluarkan zakat fitrah, infak dan sadakah, sedangkan kesadaran untuk mengeluarkan zakat mal belum membudaya bagi masyarakat di Indonesia. Keadaan ini terjadi diduga karena pola konsumsi umat di Indonesia belum Islami. Pola konsumsi masih menggunakan pola yang dikembangkan oleh Pareto bahwa manusia dalam memaksimisasikan konsumsinya hanya berdasarkan kepentingan dunia tanpa mempertimbangkan kepentingan akhirat. Sejanjutnya mantan presiden berpendapat perlu dikaji kemungkinan dana zakat untuk Jaring Pengaman Sosial (JPS). Masalahnya dana zakat akan disalurkan pada program JPS yang ...

Iqtisad (Yogyakarta), May 7, 2009

Even though shariah banking has been legally exist in Indonesia since 1992, its development still... more Even though shariah banking has been legally exist in Indonesia since 1992, its development still face some constraints Actually, the development of shariah banking is an soundness of national integral part of developing banking system and strengthening the economic fundamental. So, a good cooperation among stakeholder of shariah banking is strongly needed a market driven, fair treatment, gradual and sustainable, and Islamic values oriented policy are important paradigm for developing a sound shariah banking system. Besides evaluating economic performance of shariah bank and predicting its prospect in the future, this paper also discuss the paradigm, direction and strategic policy for developing shariah banking in Indonesia.

The main goal of this study is to have a better understanding of the fectors that influence a bor... more The main goal of this study is to have a better understanding of the fectors that influence a borrower to choose a particular type of mortgage loan, this study incorporates history and theory with newer econometric methods in the time series analysis of mortgage choice. The Brueckner (1986) theoretical model o f ARM-FRM choice provides the basic theoretical structure. This study shows that certain historical events profoundly impact Brueckner theoretical predictions. The choice of mortgage loans is investigated from both the borrower's and lender's points of view. This study is based upon the fixed-adjustable interest rate spread influencing mortgage-choice model, the spread and other factors influencing mortgage choice model and interest-rate expectations influencing the fixed-adjustable interest rate spread model. Moreover, this study employs the switching-regression technique of Goldfeld and Quandt (1973) to examine whether there are any regime shifts or partitions in each of the three models. Then, unit-root tests are conducted on the series in each partition of a model If the series are integrated of order one. co-integration tests are conducted in each partition of the model Finally, when the series in each partition have long-run relationships. Granger causality tests are conducted. Several conclusions were reached: 1. The spread positively influences the borrower to choose an ARM loan. However, the borrower does not always consider the spread in choosing an ARM loan, because certain historical events may lead the consumer to ignore the spread. 2. The empirical results show that the consumer confidence index and income growth positively influence the borrower to choose an ARM loan, while the affordability index has a negative impact on the choice of an ARM loan. However, these three factors, together with the spread, seem not to play a role in the choice of an ARM loan, when the U.S. economy is in recession. 3. The lender does not make any spread adjustments when interest-rate expectations change. In addition, neither the lender makes any spread adjustments when he or she observes changes in consumer choice. 4. The demand side appears to dominate the supply side of the mortgage market, as the borrower is responding to changes in spread and other factors, and the lender is not responding to changes in consumer choice and interest-rate expectations.

Buletin ekonomi moneter dan perbankan, Oct 11, 2003

Zenodo (CERN European Organization for Nuclear Research), Feb 21, 2023

To be able to achieve the best level of efficiency, the bank must be able to manage the inputs ow... more To be able to achieve the best level of efficiency, the bank must be able to manage the inputs owned and the outputs produced in between. In addition, banks must also be able to manage operational costs and operating income. In this analysis of efficiency is calculation of the ratio between input and output variables. This research is using nonparametric Data Envelopment Analysis (DEA) for bank in Indonesia in group level two (BUKU II) banks which registered at IDX with period of analysis in 2014-2018. To analyze its efficiency by using intermediary approach. The sample analysis are taken from all population banks in BUKU II that already go public, which consist of two sharia banks, and sixteen conventional banks (four foreign banks, one state-owned bank and eleven national private banks). The results of the study indicate that there are several banks that are able to achieve a level of efficiency both using the intermediation approach. In 2014, there were four banks that were able to achieve efficiency levels. In 2015 and 2016, only three banks was able to achieve efficiency levels. However, in 2017 only two banks was able to reach the level of efficiency. In 2018 there were four banks that were able to achieve a level of efficiency using the intemediation. The results of this study are expected to be useful for evaluating the level of efficiency that occurs in banks in Indonesia

library.usu.ac.id

... Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringa... more ... Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat Mosaik Ringan-Mosaik Berat ... Gambar 1. Hasil Uji Hayati pada Tanaman Indikator C. amaranticolor dari Tanaman Cabai Sampel yang Terinfeksi CMV ...

International Journal of Islamic Economics and Finance (IJIEF)

The Environmental, Social and Governance (ESG) index is rising in popularity globally especially ... more The Environmental, Social and Governance (ESG) index is rising in popularity globally especially in Indonesia. This study attempts to prove that ESG equity is less volatile than non-ESG equity, since specific components of ESG are essentially parts of the Shariah values. Using data from 2009 through 2020, the Vector Error Correction Model (VECM) method was utilized to further investigate the link between ESG and other endogenous variables such as the DJIM (Dow Jones Islamic Market), Fed rate, JCI (Jakarta Composite Index) index, exchange rate, and BI rate. The results show that all internal and external variables significantly influence ESG equity in very low magnitude, except for DJIM negatively and Fed rate positively. However, the IRF findings reveal what transpired to the ESG equity, which was able to endure shocks from both internal and external simultaneously, and to stabilize more swiftly. Moreover, the FEVD results shows that all internal and external variables have little i...

Siregar, Mulya E, The Ohio State University, 1998

The main goal of this study is to have a better understanding of the fectors that influence a b... more The main goal of this study is to have a better understanding of the fectors that
influence a borrower to choose a particular type of mortgage loan, this study incorporates
history and theory with newer econometric methods in the time series analysis of
mortgage choice. The Brueckner (1986) theoretical model o f ARM-FRM choice provides
the basic theoretical structure. This study shows that certain historical events profoundly
impact Brueckner theoretical predictions.
The choice of mortgage loans is investigated from both the borrower's and lender's
points of view. This study is based upon the fixed-adjustable interest rate spread
influencing mortgage-choice model, the spread and other factors influencing mortgage choice model and interest-rate expectations influencing the fixed-adjustable interest rate spread model. Moreover, this study employs the switching-regression technique of
Goldfeld and Quandt (1973) to examine whether there are any regime shifts or partitions
in each of the three models. Then, unit-root tests are conducted on the series in each
partition of a model If the series are integrated of order one. co-integration tests are
conducted in each partition of the model Finally, when the series in each partition have
long-run relationships. Granger causality tests are conducted.
Several conclusions were reached:
1. The spread positively influences the borrower to choose an ARM loan. However, the
borrower does not always consider the spread in choosing an ARM loan, because
certain historical events may lead the consumer to ignore the spread.
2. The empirical results show that the consumer confidence index and income growth
positively influence the borrower to choose an ARM loan, while the affordability
index has a negative impact on the choice of an ARM loan. However, these three
factors, together with the spread, seem not to play a role in the choice of an ARM
loan, when the U.S. economy is in recession.
3. The lender does not make any spread adjustments when interest-rate expectations
change. In addition, neither the lender makes any spread adjustments when he or she
observes changes in consumer choice.
4. The demand side appears to dominate the supply side of the mortgage market, as the
borrower is responding to changes in spread and other factors, and the lender is not
responding to changes in consumer choice and interest-rate expectations.

JURNAL EKONOMI, MANAJEMEN, BISNIS, DAN SOSIAL (EMBISS), Feb 28, 2021

Sefarad, 2012

Islamic bank is part of banking system which its activity character and operation system differ f... more Islamic bank is part of banking system which its activity character and operation system differ from that of conventional bank, so there is a need of regulation especially for operational system of Islamic banking. The objective is to comply to sharia principle. Yet, some current regulations have not met with the nature of business of Islamic bank in which interest rate and speculative business are not recognized, but it gives the highest priority to return sharing principle in partnership and justice. Islamic bank character prohibits interest (riba), future trading or unreal transaction (gharar) and speculative transaction (maysir). The prominent principle of Islamic banking transaction lies on every transaction that must be backed up by real underlying assets will link together between the growth of financial sector and that of real sector. Therefore derivative transactions known as buying without paying and selling without owning must be avoided by the sharia banker. Such eminent issues to have influence on development of sharia bank as (1) establishment organization and mechanism of international Islamic money market, and (2) for the moment in which 18 member countries of IMF are preparing for establishment of Islamic Financial Services Board (IFSB), an international institution that will release prudential regulation for Islamic bank. These issues are relevant to discerning the future policy of sharia bank.

Proceedings of the Business Innovation and Engineering Conference 2020 (BIEC 2020), 2021

There are several approaches that can be used to explain the relationship between input and outpu... more There are several approaches that can be used to explain the relationship between input and output from financial institutions, namely the production approach and the intermediation approach. Technical efficiency reflects the ability of the company to produce output with a number of available inputs. Whereas allocative efficiency reflects the company's ability to optimize the use of its inputs, with its price structure and production technology. These two measures are then combined into economic efficiency (economic efficiency). This research was conducted at eighteen banks included in the BUKU II Go Public Bank group in Indonesia. The study was conducted using secondary data from January 2014 to December 2018. To analyze the factors that influence the efficiency of intermediation and production approach, it is processed using Panel Data Regression analysis. The results of the research that have been carried out show that a significant factor affecting efficiency based on the intermediation approach is the number of variations in electronic banking and the number of Automatic Teller Machine. The significant factors affecting efficiency based on the production approach are total assets, the score of good corporate governance, the number of Automatic Teller Machine and the number of management

This paper intergrates themes from external and internal factors that influence Bank Brisyariah’s... more This paper intergrates themes from external and internal factors that influence Bank Brisyariah’s nonperforming financing (NPF) periods from the first quarter 2010 to second quarter 2017 by using a descriptive analysis approach and multiple regression analysis. External variables consist of inflation rates, benchmark interest rate/BI rates, economic growth, and USD/IDR exchange rate, while internal factors consist of return on asset (ROA), net income margin (NIM), financing growth, financing to deposit ratio (FDR), and NPF management. Based on these methodologies, four significant factors are utilized: 1) NPF on commercial financing influenced sequentially by net interest margin (NIM), financing to deposits ratio (FDR), NPF management, benchmark interest rate, inflation and economic growth level; 2) NPF on retail consumers influenced by financing growth factors, benchmark interest rates, and inflation; 3) NPF on small and medium retail enterprises (SME) significantly influenced by f...

This efficiency is a calculation of the ratio between input and output variables. This research i... more This efficiency is a calculation of the ratio between input and output variables. This research is using non-parametric Data Envelopment Analysis (DEA) for General Banks of Business Activities (BUKU) level two banks registered at IDX with the period of analysis in 20142018. To analyze its efficiency by using an intermediary approach, there are two variables that consist of input variables i.e. labor cost, third party funds and fixed asset, and the output variables i.e. total financing, operating income and current assets. The sample analysis is taken from all population banks in BUKU II that already Go Public, which consists of two sharia banks, and sixteen conventional banks (four foreign banks, one state-owned bank and eleven national private banks). The result of this study shown that foreign banks and the national private banks had consistency and a better level of efficiency compared to other bank during 2014-2018. Shariah bank was able to achieve the best level of efficiency (...

Jurnal Ilmiah Inovasi, 2016

Salah satu kabupaten di jawa timur yang berperan sebagai penghasil terbesar dalam bidang pertemba... more Salah satu kabupaten di jawa timur yang berperan sebagai penghasil terbesar dalam bidang pertembakauan adalah kabupaten jember. Sebagai kabupaten yang menghasilkan tembakau terbesar, perlu dilakukan pengembangan terhadap industri tembakau. Dalam proses pengembangan tersebut perlu dilakukan identifikasi dan analisa terhadap faktor internal dan eksternal yang dapat mempengaruhi industri pertembakauan. Dalam mengidentifikasi dan menganalisa faktor-faktor tersebut digunakan metode analisis deskriptif. Data dalam penelitian diperoleh dengan menggunakan kuesioner, wawancara, dan studi literatur. Kabupaten Jember untuk mengembangkan tembakau adalah sarana prasarana, peran APTI, peran kelompok tani, pemasaran, pembinaan, dan budaya tanam tembakau. Sedangkan yang menjadi kelemahan Kabupaten Jember adalah perubahan anomali iklim, pengetahuan teknis petani, hama penyakit, permodalan, dan penentuan harga oleh perusahaan. Peluang dari luar adalah permintaan pasar, DBH-CHT, dan perkembangan tekno...

Financial Innovation, 2015

Background Online peer-to-peer lending (P2P lending) is booming as the popularity of e-finance. T... more Background Online peer-to-peer lending (P2P lending) is booming as the popularity of e-finance. To develop a conceptual model for the P2P lending process is great valuable for managers to tack the issues of marketing, management and operation. Methods In this paper, we focus on the P2P lending process model and provide a comparative analysis comparing with traditional bank loan process. Results Firstly, our model shows that the information flow in P2P lending is more frequent and transparent. Secondly, the model reveals that P2P lending uses a quite different credit audition method, which relies on information and the decision model in the P2P systems. Thirdly, the loan management is not complete normally in P2P lending, because most P2P companies do not have the post-loan records of borrowers. Conclusions These findings inspire future studies and practices on P2P lending process and key technologies.

Jurnal Aplikasi Bisnis dan Manajemen

Jurnal Aplikasi Bisnis dan Manajemen

International Business Management

To be able to achieve the best level of efficiency, the bank must be able to manage the inputs ow... more To be able to achieve the best level of efficiency, the bank must be able to manage the inputs owned and the outputs produced in between. In addition, banks must also be able to manage operational costs and operating income. In this analysis of efficiency is calculation of the ratio between input and output variables. This research is using non-parametric Data Envelopment Analysis (DEA) for bank in Indonesia in group level two (BUKU II) banks which registered at IDX with period of analysis in 2014-2018. To analyze its efficiency by using intermediary and production approach. The sample analysis are taken from all population banks in BUKU II that already go public which consist of two sharia banks and sixteen conventional banks (four Foreign banks, one state-owned bank and eleven national private banks). The results of the study indicate that there are several banks that are able to achieve a level of efficiency both using the intermediation approach and also the production approach. In 2014, there were two Foreign banks that were able to achieve efficiency levels. In 2015, only one Foreign bank was able to achieve efficiency levels. However, in 2016 and 2017 none of the banks was able to reach the level of efficiency. In 2018 there were three banks that were able to achieve a level of efficiency using the intemediation and production approach, namely one sharia bank and two Foreign banks. The results of this study are expected to be useful for evaluating the level of efficiency that occurs in banks in Indonesia

Indonesian Journal of Business and Entrepreneurship

This study integrates the determinant factors of external and internal factors that affect the Ba... more This study integrates the determinant factors of external and internal factors that affect the Bank BRISyariah Non-Performing Financing (NPF) in the period of Quarter I 2010 to Quarter IV 2017 by using multiple regression analysis. The external variables themselves consist of Inflation Rate, Benchmark Interest Rate/BI Rate, Economic Growth and USD/IDR Exchange Rate while internal factors consist of Return on Assets (ROA), Net Income Margin (NIM), Growth Financing, Financing to Deposit Ratio (FDR), Bank Rating (consisting of Good Corporate Governance, Risk Profile, Profitability and Capital) and NPF Management/NPF handling. Based on this methodology, the results with multiple regression analysis indicate that under existing contracts or financing contracts, the influencing factors are that 1) NPF in murabahah contract is influenced by bank rating-good corporate governance, exchange rate and benchmark interest rate; 2) NPF in ishtisna contract is influenced by bank rating-risk profile, bank rating-good corporate governance, NPF handling and inflation rate; 3) NPF in qardh contract is influenced by bank rating-rentability; 4) NPF in mudharabah/musyarakah contract is influenced by the rate of inflation; 5) NPF in ijarah contract is influenced by bank rating-risk profile, bank rating-good corporate governance, bank rating-rentability, financing growth and inflation rate. This research produces external and internal factors that need to get attention in order to handle non-performing financing based on financing contract better.

Open Journal of Business and Management

This study aims to determine the strategy for non-performing financing management on financing in... more This study aims to determine the strategy for non-performing financing management on financing in Islamic banks based on the economic sector of financing. This study was specifically carried out at the BRI Syariah Bank in the period 2010 to 2017, using the Analytical Hierarchy Process (AHP) in determining its handling strategy with the involvement of nine experts as respondents with the background of three people from Islamic bank practitioners, three people from the profession academics or lecturer staff, and three people from the sharia banking authority or regulator. In the formulation of strategies for handling non-performing financing in financing, it is divided into five levels, namely level 1) goal, level 2) economic sector, level 3) factor, level 4) actor, level 5) program. The results showed that the economic sector that needs attention with a high level of importance is the trade, restaurant and hotel sector with a weight of 0.197, followed by the construction sector with a weight of 0.189 and the industrial sector with a weight of 0.168. An important factor that needs attention regarding non-performing financing is the handling of NPF with a weight of 0.243, followed by bank rating of the bank-a risk profile with a weight of 0.217 and Indonesia's economic growth with a weight of 0.148. The actors who play an important role in handling non-performing financing are directors with a weight of 0.300 followed by work units with a weight of 0.178 and economic conditions with a weight of 0.144. The most important non-performing financing management program is intensive collection with a weight of 0.340, then the restructuring with a weight of 0.312 and collateral sales with a weight of 0.151.

Buletin Ekonomi Moneter dan Perbankan, 2003

Salah satu pernyataan mantan presiden dalam pembukaan Musyawarah Kerja Nasional I Lembaga Pengelo... more Salah satu pernyataan mantan presiden dalam pembukaan Musyawarah Kerja Nasional I Lembaga Pengelolaan ZIS-Forum Zakat pada bulan Januari tahun silam adalah: “Lembagalembaga itu masih perlu berusaha untuk menyadarkan umat Islam tentang kewajibannya menunaikan zakat serta memberikan infak dan sedekah.” Sejalan dengan pernyataan tersebut memang harus diakui bahwa sebagian besar umat cenderung hanya bersedia mengeluarkan zakat fitrah, infak dan sadakah, sedangkan kesadaran untuk mengeluarkan zakat mal belum membudaya bagi masyarakat di Indonesia. Keadaan ini terjadi diduga karena pola konsumsi umat di Indonesia belum Islami. Pola konsumsi masih menggunakan pola yang dikembangkan oleh Pareto bahwa manusia dalam memaksimisasikan konsumsinya hanya berdasarkan kepentingan dunia tanpa mempertimbangkan kepentingan akhirat. Sejanjutnya mantan presiden berpendapat perlu dikaji kemungkinan dana zakat untuk Jaring Pengaman Sosial (JPS). Masalahnya dana zakat akan disalurkan pada program JPS yang ...