The Effect Of Sukuk On The Profitability Of Islamic Bank In Indonesia

The purpose of this study was to determine the effect of the development of the Sukuk market to the profitability of Islamic banks in Indonesia. This study uses a quantitative method with a vector error correction model. The data used was monthly data Sukuk and profitability of Islamic banks in the years 2011 to 2018. The results of this research are in the long term Sukuk variables have a significant influence on ROA. The results obtained from the t-statistic values of variables Sukuk amounting -6.56088. The value is greater than t table, the Effect of Sukuk itself fairly small to ROA. This study is the first study that examines the influence of Sukuk on the profitability of Islamic banks using a vector error correction model.

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Analisis Pengaruh Kinerja Keuangan terhadap Profitabilitas Bank Syariah di Indonesia

Economica Jurnal Ekonomi Islam ◽

10.21580/economica.2017.8.2.1702 ◽

2017 ◽

Vol 8 (2) ◽

pp. 175

Author(s):

Heri Sudarsono

Keyword(s):

Error Correction ◽

Error Correction Model ◽

Third Party ◽

Vector Error Correction Model ◽

Correction Model ◽

Factors Affecting ◽

Vector Error Correction ◽

Vector Error ◽

Long Run

This study aimed to analyze the factors affecting the amount of profitability (ROA) provided by Islamic banking in Indonesia. The data which is used is taken from the financial report of the Shari’a Bank during the 2011-2016 periods by using montly financial statement This study uses a Vector Error Correction Model (VECM) to see the long-term effect and response to shock that occur in the studied variables. The result shows that in the long run, the percentage Financing (FIN) and BOPO give a positive siqnifikant effect on the ROA, while third party funds (DPK), percentage profit and loss sharing (TBH), financial to deposit ratio (FDR) has negative and siqnificant effect on the ROA. Sertifikat Bank Indonesia Syariah (SBIS) and non performing finance (NPF) have no significant effect on the ROA. In short run, ROA give a negatif and siqnificant effect on the ROA and FDR give a positif and siqnificant effect, while DPK, FIN, SBIS, TBH, NPF and BOPO have no sinificant effect on the ROA. Therfore, shocks that occur in the ROA, FIN, FDR , NPF dan BOPO positively responded by ROA and will be stable in the long term. While the shocks that occur in the percentage of FDR, SBIS and TBH responded negatively by financing and will be stable in the long term.Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi profitabilitas (ROA) perbankan syariah di Indonesia. Data yang digunakan data bulanan dari laporan keuangan bank syariah periode 2010-2015. Penelitian ini mengunakan Vector Error Correction Model (VECM) untuk melihat dampak jangka panjang dan respon terhadap dampak shock pada setiap variabel terhadap pembiayaan. Hasil olah data menunjukkan bahwa FIN dan BOPO berhubungan positif terhadap ROA, sedangkan DPK, TBH, FDR berhubungan negatif terhadap dan ROA SBIS dan NPF tidak berpengaruh terhadap tingkat ROA. Dalam jangka pendek, ROA berhubungan negatif, tetapi FDR terhadap ROA berhubungan positif. Sedangkan DPK, FIN, SBIS, TBH, NPF and BOPO tidak berhubungan dengan pembiayaan. Di lain pihak, respon pembiayan terhadap goncangan yang terjadi terjadi pada ROA, FIN, FDR, NPF dan BOPO direspon positif oleh ROA. Sedangkan respon ROA terhadap goncangan yang terjadi pada FDR, SBIS dan TBH adalah negatif.

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Analysis of Stock Market Integration Among ASEAN Countries by Using Vector Error Correction Model (VECM) Approach

Proceeding of Japan International Business and Management Research Conference ◽

10.31098/jibm.v1i1.220 ◽

2020 ◽

Author(s):

Reni Lestari

Keyword(s):

Stock Market ◽

Error Correction ◽

Stock Exchange ◽

Error Correction Model ◽

Stock Index ◽

Vector Error Correction Model ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error

Globalization has driven the economy of countries to relate to each other. It brings relationships in the capital among countries in the world, especially in ASEAN region countries. This study aimed to analyze the integration of the stock market among countries in the ASEAN region. The stock market was analyzed are the Indonesia Stock Exchange, Malaysia Stock Exchange, Singapore Stock Exchange, Thailand Stock Exchange, Vietnam Stock Exchange, and Philippine Stock Exchange. This study using the Vector Error Correction Model (VECM) as the method. The result of this study shows that, in the long term Singapore Stock Index (STI), Malaysia Stock Index (KLSE), Philippines (PSEi), and Indonesia Stock Index (JKSE) are positively correlated. This means the change of stock index price in one country will affect other related countries in the long term. In the short term of VECM estimation, found the Vietnam Stock Index (VNI), Singapore Stock Exchange (STI), Philippine (PSEi) are positively correlated and negatively correlated with Thailand Stock Exchange (SET). For the managerial implication, the result of this study is expected as a reference or basis of consideration of investment decisions. This because long-term stock market movements are important because they impact international portfolio management and risk diversification.

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Analisis Kredit UMKM di Provinsi Aceh: Analisis Empiris Vector Error Correction Model (VECM)

Jurnal EMT KITA ◽

10.35870/emt.v4i2.129 ◽

2020 ◽

Vol 4 (1) ◽

pp. 59

Author(s):

Hamdani Hamdani ◽

Ismail Ismail ◽

Thasrif Murhadi

Keyword(s):

Interest Rates ◽

Error Correction ◽

Error Correction Model ◽

Domestic Product ◽

Vector Error Correction Model ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error ◽

Aceh Province

The purpose of this study was to determine the effect of regional gross domestic product, non-performing loans, and loan interest rates on credit absorption by SMEs in Aceh province in the long term. The data used is secondary data in the form of a quarter 1st quarter 1995 to third quarter 2015. The model used in this study is a model of Vector Error Correction Model (VECM) to find out the results of short-term estimates, and using Johansen cointegration test to determine the relationship long-term between variables. The data used in this study has been tested with Augmented Dickey Fuller (ADF) to determine the stationary data. Based on this study it was found that in the long term there is a cointegration relationship between the variables studied. In the short term, the variables affecting the gross regional domestic product and has a one-way relationship with SME loans while variable interest rates have a causal relationship with SME loans in Aceh province, while the NPL variable does not have a causal relationship with SME loans. Keywords: SME Loans, Gross Domestic Product, Non Performimg Loan, Interest Rates, Vector Error Correction Model (VECM).

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Elasticity of the Number of World Cruise Tourists Using the Vector Error Correction Model

Sustainability ◽

10.3390/su13168743 ◽

2021 ◽

Vol 13 (16) ◽

pp. 8743

Author(s):

Young-Gyun Ahn ◽

Min-Kyu Lee

Keyword(s):

Error Correction ◽

Error Correction Model ◽

Tourism Industry ◽

Invisible Hand ◽

Vector Error Correction Model ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error ◽

Cruise Tourism

Along with the growth of the marine tourism industry, the number of global cruise tourists is rapidly increasing; the competition among regions to attract cruise tourists is increasing. The current study aims to verify that the global cruise tourism industry can be sustainable through its inherent power for long-term balanced convergence within the industry and can flexibly respond to external shocks such as COVID-19. This study applies the Vector Error Correction Model (VECM) to estimate the long-term balance function that determines the number of world cruise tourists. This study reveals that the number of world cruise tourists finally converges to long-term balance if the number of world cruise tourists at present is lower than the one at long-term equilibrium. In summary, the results of the VECM in the present study suggest the presence of an “invisible hand” in the global cruise tourism industry converging to a long-term balance. A few previous studies have suggested ways to increase global cruise tourists and promote the cruise tourism industry through qualitative methods, however, little research has estimated the decision function of the number of cruise tourists at a long-term equilibrium point. This study shows the dynamic characteristics of the cruise tourism market using the VECM.

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ANALISIS INTEGRASI SPASIAL PASAR CABAI MERAH KERITING DI JAWA TENGAH DENGAN METODE VECTOR ERROR CORRECTION MODEL

Jurnal Gaussian ◽

10.14710/j.gauss.v10i2.29007 ◽

2021 ◽

Vol 10 (2) ◽

pp. 190-199

Author(s):

Kenia Samantha ◽

Tarno Tarno ◽

Rita Rahmawati

Keyword(s):

Error Correction ◽

Granger Causality ◽

Market Integration ◽

Error Correction Model ◽

Vector Error Correction Model ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error ◽

Regional Markets

Curly red chili (Capsicum annuum L.) is one of commodity which has a big influence to the national economy. To maintain the price stability of curly red chili, an integrated market is needed. Spatial market integration is the level of closeness of relations between regional markets and other regional markets. Spatial market integration will be modeled by the Vector Error Correction Model (VECM) method to see the closeness of both short and long term relationships. The object of this study is the price of curly red chili for several regions in Central Java, such as Kota Semarang, Kab. Demak, Kab. Pati, and Kab. Pekalongan in the period January 2016 to December 2019 where the data has met the stationarity test at first level of difference. In Johansen's cointegration test, it was obtained 3 cointegrations, which means that in each short-term period all variables tend to adjust to each other to achieve long-term balance. Granger causality test shows that there is a two-way relationship and the relationship affects one variable to another for all variables. The VECM model obtained has the MAPE accuracy value for HCMK Semarang 15.93%, Kab. Demak 17.61%, Kab. Pati 15.88%, and Kab. Pekalongan 14.49% which can be interpreted that the performance of the model is good. Keywords: Curly Red Chili, Spatial Market Integration, VECM, Johansen's Cointegration, Granger Causality

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ANALYSIS OF JAPANESE TOURIST DEMAND TO BALI USING CO-INTEGRATION TEST AND VECTOR ERROR CORRECTION MODEL

International Journal of Applied Sciences in Tourism and Events ◽

10.31940/ijaste.v1i2.569 ◽

2017 ◽

Vol 1 (2) ◽

pp. 151

Author(s):

Ni Luh Putu Suciptawati ◽

M Sianipar

Keyword(s):

Error Correction ◽

Error Correction Model ◽

Vector Error Correction Model ◽

Tourism Demand ◽

Short Term ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error ◽

Integration Test

This study was aimed to figure out of the long term and short term correlation between -tourism price and tourist income to the tourism demand of Japanese to Bali. Quarterly data from 2003-2016 were analyzed by cointegration test and Vector Error Correction Model (VECM). The result showed that there were both long term and short term balance among research variables. At long term, the tourist income has a positive influence on tourism demand and on the other hand the tourism price has a negative one. Meanwhile at the short term the tourist income has a negative influence on the tourism demand.

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Micro, Small-Financial Financing and Its Implications on the Profitability of Sharia Banks

DeReMa (Development Research of Management) Jurnal Manajemen ◽

10.19166/derema.v13i2.1054 ◽

2018 ◽

Vol 13 (2) ◽

pp. 175

Author(s):

Aminah Nuriyah ◽

Endri Endri ◽

Mukhamad Yasid

Keyword(s):

Error Correction ◽

Error Correction Model ◽

Fund Raising ◽

Third Party ◽

Vector Error Correction Model ◽

Correction Model ◽

Vector Error Correction ◽

Vector Error ◽

Short Run

Development of micro, small and medium enterprises (MSME) in Indonesia has increased yearly, but this is not followed by MSME financing in Sharia banking, where the proportion is relatively decreasing in a couple years. This study aims to analyze the influence of the deposit or third party fund to MSME financing and also to analyze the implication of MSME financing to MSME financing and its impact on the profitability of Sharia banks. Sharia banks are expected to be even more active in collecting funds from third parties with various strategies that can be used. As has been discovered from the above research, the amount of fund raising to the allocation of MSME financing is also getting bigger. This study uses a Vector Error Correction Model (VECM) to see the long term effect and response to shocks that occur in the studied variables. The result shows that in the short run and the long run CAR has negative and significant effect on MSME financing. TPF, NPF, BOPO and FDR have positive significant to MSME financing in the long term. TPF, CAR, NPF have positive significance to Sharia banks profitability in the long term. BOPO and NPF have positive significance in the short run. Shock to CAR is negatively responsed by MSME financing. Shock to MSME financing is negatively responsed by Sharia banks profitability (ROA) and is stable in the long term.Abstrak dalam Bahasa Indonesia : Perkembangan Usaha Mikro, Kecil dan Menengah (UMKM) di Indonesia meningkat setiap tahun, tetapi ini tidak diikuti oleh pembiayaan UKM di perbankan syariah, yang proporsinya relatif menurun dalam beberapa tahun. Penelitian ini bertujuan untuk menganalisis pengaruh Deposito atau dana pihak ketiga terhadap pembiayaan UMKM dan juga menganalisis implikasi dari Pembiayaan UMKM terhadap profitabilitas bank syariah. Bank-bank syariah diharapkan untuk lebih giat lagi dalam menghimpun dana dari pihak ketiga dengan berbagai strategi yang dapat digunakan. Seperti telah diketahui dari penelitian diatas yaitu jika jumlah penghimpunan dana semakin besar maka alokasi pembiayaan UMKM juga semakin besar. Penelitian ini menggunakan Vector Error Correction Model (VECM) untuk melihat efek jangka panjang dan respon terhadap shock yang terjadi pada variabel yang diteliti. Hasilnya menunjukkan bahwa dalam jangka pendek dan jangka panjang CAR memiliki pengaruh negatif dan signifikan terhadap Pembiayaan UMKM. TPF, NPF, BOPO dan FDR memiliki signifikan positif terhadap pembiayaan UMKM dalam jangka panjang. TPF, CAR, NPF memiliki signifikan positif terhadap profitabilitas bank sharia dalam jangka panjang. BOPO dan NPF memiliki signifikan positif dalam jangka pendek. Guncangan terhadap CAR direspon negatif oleh pembiayaan UMKM. Kekagetan terhadap pembiayaan UMKM secara negatif direspon oleh Profitabilitas Bank Syariah (ROA) dan akan stabil dalam jangka panjang.

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