Keywords
ZISWAF Funds
ROE
GWM
NPF Gross
Firm Size
ROE
GWM
NPF Gross
Firm Size
How to Cite
’Ainunnaja, I., & Budianto, E. (2024). THE EFFECT OF ZISWAF FUND RECEIPTS, ROE, GWM ON NPF GROSS WITH FIRM SIZE AS MODERATING VARIABLE IN ISLAMIC BANKING IN INDONESIA PERIOD 2018-2023. BALANCE: JOURNAL OF ISLAMIC ACCOUNTING, 5(2), 154-185. https://doi.org/10.21274/balance.v5i2.9643
Abstract
Abstract: This study seeks to explore the influence of ZISWAF fund receipts, ROE, and GWM on Gross NPF in Islamic financial institutions, with firm size acting as a moderating factor. The research also explores strategies to address these issues. The sample consists of 115 companies in the financial sector registered with the OJK since 2018.Q1 to 2023.Q3. Purposive sampling was employed for data collection. MRA and panel data regression analysis were performed using Eviews 12 software.The findings indicate that ZISWAF fund receipts, ROE, and GWM significantly influence Gross NPF in the financial sector during the specified period. Additionally, firm size moderates the effects of ZISWAF fund receipts, ROE, and GWM on Gross NPF in the financial sector from 2018.Q1 to 2023.Q3.
Keywords: ZISWAF Funds, ROE, GWM, NPF Gross, Firm Size
References
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Binder, Michael, and Marcel Bluhm, ‘On the Conditional Effects of IMF Program Participation on Output Growth’, Journal of Macroeconomics, 51 (2017), 192–214
Choiriyah, Choiriyah, Saprida Saprida, and Emilia Sari, ‘Development of Sharia Banking System In Indonesia’, Mizan: Journal of Islamic Law, 5.1 (2021), 17
Dai, Na, and Louis R Piccotti, ‘Expected Returns and Capital Structure Adjustment’, SSRN Electronic Journal, 2016
Effendi, Jaenal, Usy Thiarany, and Tita Nursyamsiah, ‘Factors Influencing Non-Performing Financing (NPF) at Sharia Banking’, Walisongo: Jurnal Penelitian Sosial Keagamaan, 25.1 (2017), 109
Fama, Eugene F., and Kenneth R. French, ‘The Corporate Cost of Capital and the Return on Corporate Investment’, SSRN Electronic Journal, 1998
Firmansyah, Irman, and Aam S Rusydiana, ‘Pengaruh Profitabilitas Terhadap Pengeluaran Zakat Pada Bank Umum Syariah Di Indonesia Dengan Ukuran Perusahaan Sebagai Variabel Moderasi’, Jurnal Liquidity, 2.2 (2013), 110–16
Garlappi, Lorenzo, and Hong Yan, ‘Financial Distress and the Cross Section of Equity Returns’, SSRN Electronic Journal, 2010
Green, Richard C., ‘Investment Incentives, Debt, and Warrants’, Journal of Financial Economics, 13.1 (1984), 115–36
Gunawan, Arfa, and Yeni Salma Barlinti, ‘Pengaturan Giro Wajib Minimum Bank Syariah Sebagai Sebuah’, 08 (2022), 473–85
Gunawan, Arfa, and Yeni Salma Barlinti, ‘Pengaturan Giro Wajib Minimum Bank Syariah Sebagai Sebuah Instrumen Kebijakan Moneter dalam Pandangan Maqashid Shariah’, Palar | Pakuan Law Review, 8.1 (2022), 473–85
Hardana, Ali, Aliman Syahuri Zein, Anne Johanna, and Buschhaus Avinash, ‘Factors Influencing Non-Performing Financing (NPF) In Sharia Banking’, Journal Markcount Finance, 1.2 (2023), 87–97
Havidz, Shinta Amalina Hazrati, and Chandra Setiawan, ‘Bank Efficiency and Non-Performing Financing (NPF) in the Indonesian Islamic Banks’, Asian Journal of Economic Modelling, 3.3 (2015), 61–79
Heykal, Mohamad, ‘Analisis Tingkat Pemahaman KPR Syariah Pada Bank Syariah Di Indonesia: Studi Pendahuluan’, Binus Business Review, 5.2 (2014), 519
Idrus, Ali, ‘Pengaruh Faktor Internal Dan Eksternal Terhadap Return On Equity (ROE)’, Misykat Al-Anwar Jurnal Kajian Islam Dan Masyarakat, 29.2 (2018), 79–98
Indonesia, Gubernur Bank, ‘Peraturan Bank Indonesia Nomor : 6/21/PBI/2004 Tentang Giro Wajib Minimum dalam Rupiah dan Valuta Asing Bagi Bank Umum yang Melaksanakan Kegiatan Usaha Berdasarkan Prinsip Syariah’, Jurnal Teknik, 4.2 (2015), 50–57
Jalih, Jara Hardiyanti, ‘The Influence of Return on Equity, Company Size, and Institutional Ownership on Company Value’, EPRA International Journal of Economics, Business and Management Studies, 2022, 26–30
Kornitasari, Yenny, Nailil Muna, and Qonitah Rifda Zahirah, ‘Pengaruh Fee Based Income Dan Giro Wajib Minimum Terhadap Return On Assets Bank Umum Syariah Di Indonesia Tahun 2018-2022’, MABIS: Jurnal Manajemen Bisnis Syariah, 3.2 (2023)
Mahmood, Faisal, Dongping Han, Nazakat Ali, Riaqa Mubeen, and Umeair Shahzad, ‘Moderating Effects of Firm Size and Leverage on the Working Capital Finance–Profitability Relationship: Evidence from China’, Sustainability, 11.7 (2019), 2029
McConnell, John J., and Henri Servaes, ‘Equity Ownership and the Two Faces of Debt’, Journal of Financial Economics, 39.1 (1995), 131–57
Mufidz, Muhammad Fatikhul, Arin Setiyowati, and Rukhul Amin, ‘Identifikasi Pola Pengelolaan Dana Sosial Perbankan Syariah Di Indonesia : Sebuah Tinjauan Literatur’, Jurnal Masharif Al-Syariah, 6.1 (2021), 125–77
Munifatussa’idah, Asma’, ‘Determinants Non-Performing Financing (NPF) in Indonesia’, Equilibrium: Jurnal Ekonomi Syariah, 8.2 (2020), 255
Muqorobin, Ahmad, and Mohammad Syifa Urrosyidin, ‘The Contribution of Zakat, Infaq, Sadaqa, and Waqf (Ziswaf) Strategic Management in Developing the Prosperity of Ummah’, Journal of Islamic Economics and Finance Studies, 4.1 (2023), 27–47
Nasokha, Faiz, and Fetria Eka Yudiana, ‘Determination Of Profitability With Non-Performing Financing As Moderation’, JAS (Jurnal Akuntansi Syariah), 6.2 (2022), 152–69
Ningrum, Eka Prasetya, and Yuli Chomsatu Samrotun, ‘Non Performing Financing Pada Bank Umum Syariah Di’, 5.2 (2019), 127–37
Pervan, Maja, and Josipa Višić, ‘Influence of Firm Size on Its Business Success’, Croatian Operational Research Review (CRORR), 3 (2012), 213–23
Purwanto, Purwanto, ‘Non Performing Financing and Efficiency of Islamic Banks in Indonesia’, Journal of Business Studies and Mangement Review, 4.2 (2021), 159–68
Rahmi, Febri, Leny Nofianti, Andi Irfan, and Desrir Miftah, ‘Sharia Governance Dan Kinerja Lembaga Keuangan Syariah: Firm Size Sebagai Pemoderasi’, Jurnal Al-Iqtishad, 14.2 (2019), 89
Ramadhan, Abdul Rahman, Syahfidz Rosyalqin Azri, and Muhammad Rasyid Ridha, ‘Strategies and Innovations in the Management of ZISWAF Funds through Digital Platforms for Sustainable Community Development’, Proceeding of International Conference on Islamic Philantrophy, 1 (2023), 81–91
Ridwan, Ridwan, Sugianto Sugianto, and Eka Setyawati, ‘The Effect of TPF, NPF and Fee Based Income on the Profitability of Islamic Banks with Financing as an Intervening Variable’, Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 4.2 (2021), 1758–71
Ross, Shadam Azzahra, Nusa Muktiadji, and Heri Sastra, ‘Pengaruh Giro Wajib Minimum Dan Loan To Deposit Ratio Terhadap Return On Asset’, Jurnal Ilmiah Manajemen Kesatuan, 9.3 (2021), 467–74
Rusliani, Hansen, ‘Dampak Penerapan Perbankan Syari’ah Terhadap Pertumbuhan Ekonomi Negara: Kajian Perbandingan Malaysia Dan Indonesia’, ILTIZAM Journal of Sharia Economic Research, 1.1 (2017), 37
Saha, A, ‘The Use of Return on Equity as a Criterion for Stock Selection in the Indian Equity Markets’, Journal of Physics: Conference Series, 1784.1 (2021), 012012
Sardiana, Anna, and Zulfison, ‘Implementasi Literasi Keuangan Syariah Pada Alokasi Dana Ziswaf Masyarakat’, Jurnal Ekonomi Dan Perbankan Syariah, 2.1 (2016), 171
Schoeman, Ilse, and Mark A Petersen, ‘Modeling of Banking Profit via Return-on-Assets and Return-on-Equity’, Proceedings of the World Congress on Engineering, 2.July 2008 (2008), 2–7
Shafiin, Azhar, Ahmad Amir Aziz, and Sanurdi Sanurdi, ‘The Efffect of Financial Ratio on Profitability with NOM and GWM as Moderating Factors of Banking Financial Ratios ( Study at NTB Syariah Bank)’, IQTISHADUNA, 14.1 (2023), 75–96
Trisnaningtyas, Januari Pratama Nurratri, ‘The Impurity of Sharia Banking in Indonesia’, Journal of Sharia Economics, 3.1 (2022), 1–12
Umiyati, and Muhammad Danis Baiquni, ‘Pada Bank Umum Syariah Di Indonesia’, Jurnal Akuntansi Dan Keuangan Islam, 6.1 (2018), 85–104
Warusawitharana, Missaka, ‘The Expected Real Return to Equity’, Journal of Economic Dynamics and Control, 37.9 (2013), 1929–46
Wet, J. H.V.H. De, and E. De Toit, ‘Return on Equity: A Popular, but Flawed Measure of Corporate Financial Performance’, South African Journal of Business Management, 38.1 (2007), 59–69
Yuniarti Zs., Nensi, Budi Astuti, and Furqonti Ranidiah, ‘Faktor-Faktor Yang Mempengaruhi Non Performing Financing (NPF) Pada Bank Umum Syariah Yang Terdaftar Di Otoritas Jasa Keuangan (OJK) Periode 2015-2019’, EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 10.1 (2022)
Zaini, Faizi, Dr. Mohd Sholehudin Shuib, and Dr. Muhammad Ahmad, ‘The Prospect of Sharia Banking in Indonesia (Opportunities, Challenges and Solutions)’, International Journal of Business Management and Economic Review, 02.04 (2019), 01–14
Binder, Michael, and Marcel Bluhm, ‘On the Conditional Effects of IMF Program Participation on Output Growth’, Journal of Macroeconomics, 51 (2017), 192–214
Choiriyah, Choiriyah, Saprida Saprida, and Emilia Sari, ‘Development of Sharia Banking System In Indonesia’, Mizan: Journal of Islamic Law, 5.1 (2021), 17
Dai, Na, and Louis R Piccotti, ‘Expected Returns and Capital Structure Adjustment’, SSRN Electronic Journal, 2016
Effendi, Jaenal, Usy Thiarany, and Tita Nursyamsiah, ‘Factors Influencing Non-Performing Financing (NPF) at Sharia Banking’, Walisongo: Jurnal Penelitian Sosial Keagamaan, 25.1 (2017), 109
Fama, Eugene F., and Kenneth R. French, ‘The Corporate Cost of Capital and the Return on Corporate Investment’, SSRN Electronic Journal, 1998
Firmansyah, Irman, and Aam S Rusydiana, ‘Pengaruh Profitabilitas Terhadap Pengeluaran Zakat Pada Bank Umum Syariah Di Indonesia Dengan Ukuran Perusahaan Sebagai Variabel Moderasi’, Jurnal Liquidity, 2.2 (2013), 110–16
Garlappi, Lorenzo, and Hong Yan, ‘Financial Distress and the Cross Section of Equity Returns’, SSRN Electronic Journal, 2010
Green, Richard C., ‘Investment Incentives, Debt, and Warrants’, Journal of Financial Economics, 13.1 (1984), 115–36
Gunawan, Arfa, and Yeni Salma Barlinti, ‘Pengaturan Giro Wajib Minimum Bank Syariah Sebagai Sebuah’, 08 (2022), 473–85
Gunawan, Arfa, and Yeni Salma Barlinti, ‘Pengaturan Giro Wajib Minimum Bank Syariah Sebagai Sebuah Instrumen Kebijakan Moneter dalam Pandangan Maqashid Shariah’, Palar | Pakuan Law Review, 8.1 (2022), 473–85
Hardana, Ali, Aliman Syahuri Zein, Anne Johanna, and Buschhaus Avinash, ‘Factors Influencing Non-Performing Financing (NPF) In Sharia Banking’, Journal Markcount Finance, 1.2 (2023), 87–97
Havidz, Shinta Amalina Hazrati, and Chandra Setiawan, ‘Bank Efficiency and Non-Performing Financing (NPF) in the Indonesian Islamic Banks’, Asian Journal of Economic Modelling, 3.3 (2015), 61–79
Heykal, Mohamad, ‘Analisis Tingkat Pemahaman KPR Syariah Pada Bank Syariah Di Indonesia: Studi Pendahuluan’, Binus Business Review, 5.2 (2014), 519
Idrus, Ali, ‘Pengaruh Faktor Internal Dan Eksternal Terhadap Return On Equity (ROE)’, Misykat Al-Anwar Jurnal Kajian Islam Dan Masyarakat, 29.2 (2018), 79–98
Indonesia, Gubernur Bank, ‘Peraturan Bank Indonesia Nomor : 6/21/PBI/2004 Tentang Giro Wajib Minimum dalam Rupiah dan Valuta Asing Bagi Bank Umum yang Melaksanakan Kegiatan Usaha Berdasarkan Prinsip Syariah’, Jurnal Teknik, 4.2 (2015), 50–57
Jalih, Jara Hardiyanti, ‘The Influence of Return on Equity, Company Size, and Institutional Ownership on Company Value’, EPRA International Journal of Economics, Business and Management Studies, 2022, 26–30
Kornitasari, Yenny, Nailil Muna, and Qonitah Rifda Zahirah, ‘Pengaruh Fee Based Income Dan Giro Wajib Minimum Terhadap Return On Assets Bank Umum Syariah Di Indonesia Tahun 2018-2022’, MABIS: Jurnal Manajemen Bisnis Syariah, 3.2 (2023)
Mahmood, Faisal, Dongping Han, Nazakat Ali, Riaqa Mubeen, and Umeair Shahzad, ‘Moderating Effects of Firm Size and Leverage on the Working Capital Finance–Profitability Relationship: Evidence from China’, Sustainability, 11.7 (2019), 2029
McConnell, John J., and Henri Servaes, ‘Equity Ownership and the Two Faces of Debt’, Journal of Financial Economics, 39.1 (1995), 131–57
Mufidz, Muhammad Fatikhul, Arin Setiyowati, and Rukhul Amin, ‘Identifikasi Pola Pengelolaan Dana Sosial Perbankan Syariah Di Indonesia : Sebuah Tinjauan Literatur’, Jurnal Masharif Al-Syariah, 6.1 (2021), 125–77
Munifatussa’idah, Asma’, ‘Determinants Non-Performing Financing (NPF) in Indonesia’, Equilibrium: Jurnal Ekonomi Syariah, 8.2 (2020), 255
Muqorobin, Ahmad, and Mohammad Syifa Urrosyidin, ‘The Contribution of Zakat, Infaq, Sadaqa, and Waqf (Ziswaf) Strategic Management in Developing the Prosperity of Ummah’, Journal of Islamic Economics and Finance Studies, 4.1 (2023), 27–47
Nasokha, Faiz, and Fetria Eka Yudiana, ‘Determination Of Profitability With Non-Performing Financing As Moderation’, JAS (Jurnal Akuntansi Syariah), 6.2 (2022), 152–69
Ningrum, Eka Prasetya, and Yuli Chomsatu Samrotun, ‘Non Performing Financing Pada Bank Umum Syariah Di’, 5.2 (2019), 127–37
Pervan, Maja, and Josipa Višić, ‘Influence of Firm Size on Its Business Success’, Croatian Operational Research Review (CRORR), 3 (2012), 213–23
Purwanto, Purwanto, ‘Non Performing Financing and Efficiency of Islamic Banks in Indonesia’, Journal of Business Studies and Mangement Review, 4.2 (2021), 159–68
Rahmi, Febri, Leny Nofianti, Andi Irfan, and Desrir Miftah, ‘Sharia Governance Dan Kinerja Lembaga Keuangan Syariah: Firm Size Sebagai Pemoderasi’, Jurnal Al-Iqtishad, 14.2 (2019), 89
Ramadhan, Abdul Rahman, Syahfidz Rosyalqin Azri, and Muhammad Rasyid Ridha, ‘Strategies and Innovations in the Management of ZISWAF Funds through Digital Platforms for Sustainable Community Development’, Proceeding of International Conference on Islamic Philantrophy, 1 (2023), 81–91
Ridwan, Ridwan, Sugianto Sugianto, and Eka Setyawati, ‘The Effect of TPF, NPF and Fee Based Income on the Profitability of Islamic Banks with Financing as an Intervening Variable’, Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 4.2 (2021), 1758–71
Ross, Shadam Azzahra, Nusa Muktiadji, and Heri Sastra, ‘Pengaruh Giro Wajib Minimum Dan Loan To Deposit Ratio Terhadap Return On Asset’, Jurnal Ilmiah Manajemen Kesatuan, 9.3 (2021), 467–74
Rusliani, Hansen, ‘Dampak Penerapan Perbankan Syari’ah Terhadap Pertumbuhan Ekonomi Negara: Kajian Perbandingan Malaysia Dan Indonesia’, ILTIZAM Journal of Sharia Economic Research, 1.1 (2017), 37
Saha, A, ‘The Use of Return on Equity as a Criterion for Stock Selection in the Indian Equity Markets’, Journal of Physics: Conference Series, 1784.1 (2021), 012012
Sardiana, Anna, and Zulfison, ‘Implementasi Literasi Keuangan Syariah Pada Alokasi Dana Ziswaf Masyarakat’, Jurnal Ekonomi Dan Perbankan Syariah, 2.1 (2016), 171
Schoeman, Ilse, and Mark A Petersen, ‘Modeling of Banking Profit via Return-on-Assets and Return-on-Equity’, Proceedings of the World Congress on Engineering, 2.July 2008 (2008), 2–7
Shafiin, Azhar, Ahmad Amir Aziz, and Sanurdi Sanurdi, ‘The Efffect of Financial Ratio on Profitability with NOM and GWM as Moderating Factors of Banking Financial Ratios ( Study at NTB Syariah Bank)’, IQTISHADUNA, 14.1 (2023), 75–96
Trisnaningtyas, Januari Pratama Nurratri, ‘The Impurity of Sharia Banking in Indonesia’, Journal of Sharia Economics, 3.1 (2022), 1–12
Umiyati, and Muhammad Danis Baiquni, ‘Pada Bank Umum Syariah Di Indonesia’, Jurnal Akuntansi Dan Keuangan Islam, 6.1 (2018), 85–104
Warusawitharana, Missaka, ‘The Expected Real Return to Equity’, Journal of Economic Dynamics and Control, 37.9 (2013), 1929–46
Wet, J. H.V.H. De, and E. De Toit, ‘Return on Equity: A Popular, but Flawed Measure of Corporate Financial Performance’, South African Journal of Business Management, 38.1 (2007), 59–69
Yuniarti Zs., Nensi, Budi Astuti, and Furqonti Ranidiah, ‘Faktor-Faktor Yang Mempengaruhi Non Performing Financing (NPF) Pada Bank Umum Syariah Yang Terdaftar Di Otoritas Jasa Keuangan (OJK) Periode 2015-2019’, EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 10.1 (2022)
Zaini, Faizi, Dr. Mohd Sholehudin Shuib, and Dr. Muhammad Ahmad, ‘The Prospect of Sharia Banking in Indonesia (Opportunities, Challenges and Solutions)’, International Journal of Business Management and Economic Review, 02.04 (2019), 01–14
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