Jurnal Kajian Ekonomi dan Kebijakan Publik (JEpa)

MODEL SUKUK LINKED WAKAF (SLW): OPTIMALISASI UNDERLYING ASSET WAKAF MELALUI PENERBITAN SUKUK

Kiki Hardiansyah Siregar — 2023-01-09

The potential for land waqf in Indonesia reaches 414,829 locations with an area of 55,259.87 hectares, then according to the Indonesian Waqf Agency (BWI) the potential for cash waqf in Indonesia reaches Rp. 180 trillion per year. However, most of the waqf have not been optimized properly so that the benefits have not been felt by the people. On the other hand, the deepening of Islamic financial products needs to be developed by providing new product variations. This paper provides a model of sharia financial product sukuk that connects it with waqf land. By using a musyarakah mutanaqisah (minimized musharaka) contract, waqf land can be empowered without having to sell its ownership and Nadzir will return to get waqf land and project assets after a certain period of time. Sukuk Linked Waqf provides a variety of new sharia investment products to investors with business motivations as well as social religious backgrounds. The methodology in this research uses literature study, quantitative analysis and qualitative analysis. The results show that Sukuk Linked Waqf can be a solution in optimizing waqf assets to be productive while contributing to the deepening of Islamic financial markets and real sector activities.

PENGARUH KEPEMILIKAN MANAJERIAL DAN PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN

Ulfah Setia Iswara — 2023-01-09

Dividends are given to shareholders either in cash or in the form of shares. The company's dividend policy is a concern for shareholders because it relates to whether to distribute dividends regularly or not. Investors like companies that pay dividends regularly. This study aims to examine the effect of managerial ownership and profitability on the company's dividend policy. The research was conducted in food and beverage sector companies in the period 2018 to 2021. Research data in the form of secondary data obtained from the financial reports of companies listed on the Indonesia Stock Exchange. Data analysis technique using multiple linear regression. Dividend policy in the company is proxied by Dividend Payout Ratio, profitability is proxied by Return On Equity and managerial ownership is calculated by the percentage of share ownership by the company's management. The results of research conducted on food and beverage companies listed on the IDX show that managerial ownership and profitability have a positive and significant influence on company dividend policy.

PENGARUH CORPORATE GOVERNANCE TERHADAP MANAJEMEN LABA

Susanti Susanti — 2023-01-10

Earnings management is an intervention on the financial statements carried out by the management so that the company's performance looks optimal. This study aims to examine the effect of the audit committee, board of commissioners, and managerial ownership on company earnings management. This research was conducted on 30 mining companies listed on the Indonesia Stock Exchange from 2017 to 2021. The data used in this research is the financial report data of mining companies going public. Data analysis using multiple linear regression. The results of the study prove that the audit committee has an effect on earnings management. The existence of supervision by the audit committee can minimize the occurrence of earnings management. In addition, the board of commissioners and managerial ownership are proven to have no effect on earnings management. The shares owned by management and the composition of the number of commissioners in the company are not able to minimize the occurrence of company earnings management.

ANALISIS KEBUTUHAN INVESTASI SEKTOR PERTANIAN DALAM RANGKA MENINGKATKAN PERTUMBUHAN EKONOMI DI PROVINSI ACEH

Syafridha Yanti — 2023-01-10

This study aimed to how much invesment is needed to improve economic growth in agriculture sectors, to construct development priorities of agriculture commodities having potential to improve economic growth in Aceh, and agriculture commodities in which sector a large impact on the welfare of the community with their investment in the plant. The data used in this study were secondary data obtained from Central Statistics Agency (BPS), Investment and Promotion Agency of Aceh and other required institutions. This study uses Incremental Capital Output Ratio (ICOR), the results showed that ICOR values of crops, plantation, livestock, forestry, and fishery were 2.926, 0, 0.108, and 0.298 respectively. It means that to increase 1 percent of GDP in those four commodities, the investment is expected to increase up to 2.926, 0, 0.108, and 0.298 percent respectively. At 4 percent of the average growth, in the next five years, the investment growth is expected to improve to 58, 51, 0, 2.16, and 5.95 percent from the current GDP values. At 4 percent growth, in order to achieve an effective commodity growth on social welfare, a five-year investment amounted to 682 billion (equal to 58.51 percent from GDP value) is required.