Analisis Dampak Penerbitan SBSN Terhadap Profitabilitas Bank Syariah Di Indonesia
Keywords:
sovereign suku, Islamic Bank's profitability, data panel
Abstract
This research aims to know the impact of issuing sovereign sukuk (SBSN) towards Islamic banks’ profitability in Indonesia. This research is qualitative research with SBSN owned by Islamic Banks (SBSNID) as independent variable and Islamic Banks’ profitability which is proxed by ROA as dependent variable, and some control variables were occupied in this research to minimize the bias effect of other variables, namely company size (SIZE), the level of margins (NOM), the risk of financing (NPF), the capital ratio (CAR), and th level of liquidity (FDR). The data used in this research are secondary data that consist of islamic bank datain Indonesia since 2010-2016. Analysis technique used in this study is panel data regression with Pooled Least Square (PLS) model.
The result showed that Issuing sovereign sukuk has negative yet significant effect toward Islamic Banks’ profitability.while the othe variable, such as NPF and CAR have negative and not signifivant impact againts Islamic Banks’ profitability, and NOM has positive but not significat effect againts the profitability of Islamic banks, while the FDR and SIZE variables have positive and significant effect toward Islamic banks’ profitability.
References
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Sukarno, K. W., Syaichu. M., 2006, “Analisis Faktor-Faktor yang Mempengaruhi Kinerja Bank Umum di Indonesia”, Jurnal Studi Manajemen & Organisasi UNDIP, Vol. 3, No.2.
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Umam, Khaerul., 2013, Manajemen Perbankan Syariah, Bandung: Pustaka Setia.
Utari, G. A, Kurniati, I.N, Surjaningsih, Ndari., 2011, “Dampak Penerbitan SUN Domestik Terhadap Perkembangan Sektor Perbankan”, Jurnal Balai Pendidikan dan Pelatihan Keuangan (BPPK), vol. 2, No.5, hal. 85-106.
Wahid, N. A., 2010, Sukuk: Memahami & Membedah Obligasi Pada Perbankan Syariah. Yogyakarta: Ar-Ruzz Media.
Akbarullah, M.A., 2011, Dampak Penerbitan Sukuk Terhadap Kinerja Bank Syariah (Studi Kasus Pada PT Bank Syariah Mandiri), Tesis: Universitas Indonesia.
Antonio M, S., 2001, Bank Syariah dari Teori ke Praktek, Jakarta: Gema Insani Press.
Ayub, Muhammad., 2007, Understanding Islamic Finance,England: Wiley.
Boumediene, Aniss., 2015, “Financing Government Budget Deficit as A Liquidity Risk Mitigation Tool for Islamic Banks: A Dynamic Approach”, International Journal of Islamic and Middle Eastern Finance and Management, Vol.8, No.3 hal. 329-348.
Cetorelli, N., & Peristiani, S., 2012, “The Role of Banks in Asset Securitization”, FRBNY Economic Policy Review, hal 47-63.
Diaw, A., Bacha, O.I.,Lahsasna, A., 2014, “Public Sector Funding and Debt Management A Case for GDP-Linked Sukuk”, Islamic Economic Studies, Vol. 22, No.1, hal. 185-216.
DJPPR KEMENKEU RI, 2016, Profil Utang Pemerintah Pusat (Pinjaman dan Surat Berharga). Jakarta: KEMENKEU RI
DSN MUI, 2008, Fatwa Dewan Syariah Nasional NO: 69/DSN-MUI/VI/2008 Tentang Surat Berharga Syariah Negara, Jakarta: MUI.
Ghozali, Imam., Ratmono, Dwi., 2013, Analisis Mulitvariat dan Ekonometrika Teori, Konsep dan Aplikasi Dengan Eviews8, Semarang: Badan Penerbit UNDIP .
Gujarati, D dan Porter.D.C., 2015, Dasar-dasar ekonometrika Jilid II, Jakarta: Salemba Empat.
Hauner, D., 2009, “Public Debt and Financial Development”, Journl of Development Economics, Vol. 88, hal 171-183.
International Islamic Financial Market, 2017, Sukuk Report A Comperehensive Study Of the Global Sukuk Market. Bahrain: IIFM.
Iskandar, A., 2014, “Pengaruh Penerbitan Sukuk Negara Sebagai Pembiayaan Defisit Fiskal Dan Kondisi Ekonomi Makro Terhadap Perkembangan Perbankan Syariah Di Indonesia”, Jurnal of Info Artha Sekolah Tinggi Akutansi Negara (STAN), Vol.II No.XII hal. 1-21.
Ismail, A.G., 2010, “Kamil, K.H., A Note on Debt Selling and Their Impact on Islamic Bank Value”, International Jpurnal of Banking and Finance, Vol.7, Iss.1, hal. 161-170.
Ismail, R. H., 2008, “Does Islamic Banks' Securitzation Involvement Restrain Their Financing Activity”, Emerald Insight, Vol.24 No.2 hal.95-109.
Iqbal, M., Khan, T., 2004, “Financing Public Expenditure: An Islamic Perspective”, Occasional Paper No.7, Jeddah: Islamic Research and Training Institute (IRTI).
Iqbal, Z., Mirakhor, Abbas., 2011, An Introduction to Islamic Finance, Singapore: John Wiley & Sons (Asia) Pte. Ltd
Lestari, R.T., 2014, Pengaruh Rasio Keuangan Terhadap Kinerja Perusahaaan Studi Pada Bank BUMN di Indonesia, Tesis: Universitas Gadjah Mada.
Muhammad, 2014, Manajemen Keuangan Syari’ah Analisis Fiqh dan Keuangan, Yogyakarta: UPP STIM YKPN
Otoritas Jasa Keuangan, 2010, Tanya Jawab Surat Berharga Syariah Negara (Sukuk Negara), Jakarta: Otoritas Jasa Keuangan.
-----------------------------, 2015, Roadmap Pasar Modal Syariah 2015-2019, Jakarta: Direktorat Pasar Modal Syariah Otoritas Jasa Keuangan.
Pinandita, D.S., 2012, Analisis Pengaruh Komposisi Penyaluran kredit Terhadap Kinerja Keuangan Studi Kasus PT. Bank Mandiri (PERSERO), TBK Tahun 2004-2011, Tesis: Universitas Gadjah Mada.
Prahari. W.P.P., 2016, Analisis perubahan Struktur-Perilaku-Kinerja Industri Perbankan Syariah di Indonesia Atas Rencana Konsolidasi Bank Syariah BUMN, Tesis: Universitas Gadjah Mada.
Rejeki, D,B., 2012, Pengaruh Dana Pihak Ketiga (DPK), Non Performing Loan (NPL) dan BI Rate Terhadap Tingkat Penyaluran Kredit Perbankan, Tesis Program Magister Manajemen Universitas gadjah Mada.
Salah, N. B., & Fedhila, H., 2012, “Effect of Securitization on Credit Risk and Banking Stability: Empirical Evidence from American Commercial Banks”, International Journal of Economics and Finance, Vol. 4, No.5.
Sabir, M., Habbe, A.H., 2012, “Pengaruh Tasio Kesehatan Bank Terhadap Kinerja Keuangan Bank Umum Syariah dan Bank Umum Konvensional di Indonesia”, Jurnal Analisis, vol.1, No.1.
Siregar, N., 2005, Analisis Faktor-Faktor yang mempengaruhi Penyaluran Dana Perbankan Syariah di Indonesia, Tesis: Universitas Sumatera Utara.
Stiawan, Adi., 2009, Analisis Pengaruh Faktor Makroekonomi, Pangsa Pasar dan Karakteristik Bank Terhadap Profitabilitas Bank Syariah (Studi Pada Bank Syariah Periode 2005-2008), Tesis: Universitas Diponegoro.
Sugiyono, 2014, Metode Penelitian Bisnis (pendekatan kuantitatif, Kualitatif, dan R&D), Bandung: Alfabeta.
Sukarno, K. W., Syaichu. M., 2006, “Analisis Faktor-Faktor yang Mempengaruhi Kinerja Bank Umum di Indonesia”, Jurnal Studi Manajemen & Organisasi UNDIP, Vol. 3, No.2.
Tristiningtyas. V, Mutaher. O., 2013, “Analisis Faktor-Faktor yang Mempengaruhi Kinerja Keuangan Pada Bank Umum Syariah di Indonesia”, Jurnal Akutansi Indonesia, Vol. 3, No.2, Hal. 131-145.
Umam, Khaerul., 2013, Manajemen Perbankan Syariah, Bandung: Pustaka Setia.
Utari, G. A, Kurniati, I.N, Surjaningsih, Ndari., 2011, “Dampak Penerbitan SUN Domestik Terhadap Perkembangan Sektor Perbankan”, Jurnal Balai Pendidikan dan Pelatihan Keuangan (BPPK), vol. 2, No.5, hal. 85-106.
Wahid, N. A., 2010, Sukuk: Memahami & Membedah Obligasi Pada Perbankan Syariah. Yogyakarta: Ar-Ruzz Media.
