Analysis of Investment Decisions in Sharia Cooperatives: Does Sharia Accounting Standards Affect?

Abd. Kholik Khoerulloh*  -  Inspektorat Kabupaten Majalengka, Majalengka, Indonesia
Yadi Janwari  -  Universitas Islam Negeri Sunan Gunung Djati Bandung, Bandung, Indonesia

(*) Corresponding Author

Abstract:  Investors in sharia cooperatives in Majalengka Regency suffered losses due to its administrators and managers who were not transparent in reporting their finances. This research aims to determine the effect of the application of sharia accounting standards and human resource competencies on investment decisions through financial reporting quality. The analytical techniques used in this study use path analysis. The results showed that the application of Sharia accounting standards had no significant adverse effect on investment decisions through financial reporting quality with an original sample value of -0.021 and Pvalue 0.554 > 0.05. In contrast, human resource competence significantly affected investment decisions through financial reporting quality with original sample values of 0.403 and Pvalue of 0.044 < 0.05. The implication of this research is to improve sharia cooperative management in financial performance to attract members to invest. The novelty of this research is the motive of investing in sharia cooperatives.

Abstrak: Investor pada koperasi syariah di Kabupaten Majalengka mengalami kerugian karena ulah para pengurus dan pengelolanya yang tidak transparan dalam melaporkan keuangannya. Penelitian ini bertujuan untuk mengetahui pengaruh penerapan standar akuntansi syariah dan kompetensi sumber daya manusia terhadap keputusan investasi melalui kualitas laporan keuangan. Teknik analisis yang digunakan dalam penelitian ini menggunakan analisis jalur. Hasilnya menunjukkan bahwa penerapan standar akuntansi syariah berpengaruh negatif tidak signifikan terhadap keputusan investasi melalui kualitas laporan keuangan dengan nilai original sample sebesar -0.021 dan Pvalue 0.554 > 0.05, sedangkan kompetensi sumber daya manusia berpengaruh positif signifikan terhadap keputusan investasi melalui kualitas laporan keuangan dengan nilai original sample sebesar 0.403 dan Pvalue 0.044 < 0.05. Implikasi dari penelitian ini adalah meningkatkan manajemen koperasi syariah dalam kinerja keuangan sehingga menarik anggota untuk berinvestasi. Kebaruan dari penelitian ini adalah motif investasi pada koperasi syariah.

Keywords : Accounting; Competence; Financial Report; Investment Decisions

  1. Archer, Simon, and Rifaat Ahmed Abdel Karim. 2012. “Measuring Risk for Capital Adequacy: The Issue of Profit-Sharing Investment Accounts.” In Islamic Finance, 223–36. 2 Clementi Loop, #02-01, Singapore 129809: John Wiley & Sons (Asia) Pte Ltd. https://doi.org/10.1002/9781118390443.ch10.
  2. Bahri, Syaiful. 2017. “Pengaruh Free Cash Flow, Laba Bersih, Dan Ukuran Perusahaan Terhadap Keputusan Investasi.” Jurnal Penelitian Teori & Terapan Akuntansi (PETA) 2 (1): 32–49. https://doi.org/10.51289/peta.v2i1.200.
  3. Ferracuti, Elia, and Stephen R. Stubben. 2019. “The Role of Financial Reporting in Resolving Uncertainty about Corporate Investment Opportunities.” Journal of Accounting and Economics 68 (2–3): 101248. https://doi.org/10.1016/j.jacceco.2019.101248.
  4. Gao, Ru, and Baljit K. Sidhu. 2018. “The Impact of Mandatory International Financial Reporting Standards Adoption on Investment Efficiency: Standards, Enforcement, and Reporting Incentives.” Abacus 54 (3): 277–318. https://doi.org/10.1111/abac.12127.
  5. Ghozali, Imam. 2012. Aplikasi Analisis Multivariate Dengan Program IBM SPSS. Yogyakarta: Universitas Diponegoro.
  6. ———. 2013. Aplikasi Analisis Multivariate Dengan Program IBM SPSS 21 Update PLS Regresi. Semarang: Badan Penerbit Universitas Diponegoro.
  7. Gujarati. 2012. Dasar-Dasar Ekonometrika. 5th ed. Jakarta: Salemba Empat.
  8. Hairston, Stephanie A., and Marcus R. Brooks. 2019. “Derivative Accounting and Financial Reporting Quality: A Review of the Literature.” Advances in Accounting 44 (October): 81–94. https://doi.org/10.1016/j.adiac.2018.10.003.
  9. Houcine, Asma. 2017. “The Effect of Financial Reporting Quality on Corporate Investment Efficiency: Evidence from the Tunisian Stock Market.” Research in International Business and Finance 42 (December): 321–37. https://doi.org/10.1016/j.ribaf.2017.07.066.
  10. Ikhsan, Amrul, and Musfiari Haridhi. 2017. “Penerapan Standar Skuntansi Keuangan Syariah Pada Koperasi Jasa Keuangan Syariah (Studi Pada Baitul Qiradh Di Kota Banda Aceh).” Jurnal Ilmiah Mahasiswa Ekonomi Akuntansi Unsyiah 2 (3): 100–110.
  11. Jogiyanto, Hartono. 2013. Teori Portofolio Dan Analisis Investasi. Yogyakarta: BPFE.
  12. Juanim. 2004. Analisis Jalur Dalam Riset Pemasaran Teknik Pengolahan Data SPSS & LISREL. Bandung: Fakultas Ekonomi Universitas Pasundan Bandung.
  13. Khoeruloh, Abd Kholik, Gita Priyanti, Neng Sri Astuti Sya’adah, and Anggi Amirudin. 2020. “Inflasi Dan BI 7-Day Repo Rate: Faktor Penentu Profitabilitas Bank Umum Syariah Di Indonesia.” Maro: Jurnal Ekonomi Syariah Dan Bisnis 3 (1): 37–47. https://doi.org/10.31949/mr.v3i1.2097.
  14. Kline, R. B. 2011. Principles and Practice Equation Modeling. New York: Guilford Press.
  15. Laux, Volker, and Phillip C. Stocken. 2018. “Accounting Standards, Regulatory Enforcement, and Innovation.” Journal of Accounting and Economics 65 (2–3): 221–36. https://doi.org/10.1016/j.jacceco.2017.11.001.
  16. Luthfi, Adi. 2018. Berinvestasi pada Koperasi Syariah.
  17. Majalengka, Dinas Koperasi dan UKM Kabupaten. 2017. “Data Umum Kopeerasi Di Kabupaten Majalengka.” Majalengka.
  18. Matindas, R. 2002. Manajemen Sumber Daya Manusia: Lewat Konsep AKU (Ambisi, Kenyataan Dan Usaha). Jakarta: Pustaka Utama Grafiti.
  19. Nordiawan, Deddi. 2010. Akuntansi Sektor Publik. Jakarta: Salemba Empat.
  20. Palea, Vera. 2013. “IAS/IFRS and Financial Reporting Quality: Lessons from the European Experience.” China Journal of Accounting Research 6 (4): 247–63. https://doi.org/10.1016/j.cjar.2013.08.003.
  21. Pardiansyah, Elif. 2017. “Investasi Dalam Perspektif Ekonomi Islam: Pendekatan Teoritis Dan Empiris.” Economica: Jurnal Ekonomi Islam 8 (2): 337–73. https://doi.org/10.21580/economica.2017.8.2.1920.
  22. Petraşcu, Daniela, Mihai Adrian Bucur, and Elena Dobre. 2015. “Analysing the Management of Human Resource in Economic-Financial Fraud Investigation.” Procedia Economics and Finance 27 (15): 209–15. https://doi.org/10.1016/S2212-5671(15)00992-2.
  23. Pratikno, Indra. 2018. Kasus Koperasi Syariah di Majalengka.
  24. Priyono. 2008. Metode Penelitian Kuantitatif. Surabaya: Zifatama Publishing.
  25. Putri, Mega Andani, Maryono Maryono, and Batara Daniel Bagana. 2017. “Kompetensi Sumber Daya Manusia, Penerapan Sistem Akuntansi Keuangan Daerah, Penerapan Standar Akuntansi Pemerintahan , Dan Pengendalian Intern Terhadap Kualitas Laporan Keuangan Daerah Pada Satuan Kerja Perangkat Daerah Kota Semarang.” Jurnal Dinamika Akuntansi, Keuangan Dan Perbankan 6 (2): 153–63.
  26. Republik Indonesia. 1992. Undang-Undang Republik Indonesia Nomor 25 Tahun 1992 Tentang. Indonesia.
  27. Riduwan. 2015. Dasar-Dasar Statistika. Bandung: Alfabeta.
  28. Ridwan, Ahmad Hasan. 2013. Manajemen Baitul Mal Wa Tamwil. Bandung: Pustaka Setia.
  29. Roychowdhury, Sugata, Nemit Shroff, and Rodrigo S. Verdi. 2019. “The Effects of Financial Reporting and Disclosure on Corporate Investment: A Review.” Journal of Accounting and Economics 68 (2–3): 101246. https://doi.org/10.1016/j.jacceco.2019.101246.
  30. Ruky, Achmad S. 2013. Sistem Manajemen Kinerja. Jakarta: Gramedia Pustaka Utama.
  31. Rusydiana, Aam Slamet, and Abrista Devi. 2018. “Mengembangkan Koperasi Syariah Di Indonesia: Pendekatan Interpretative Structural Modelling (ISM).” Economica: Jurnal Ekonomi Islam 9 (1): 1–23. https://doi.org/10.21580/economica.2018.9.1.2181.
  32. Santoso, Singgih. 2010. Statistik Multivariat. Jakarta: PT Elex Media Komputindo.
  33. Sari, Luh Indah Novita, and I G. N. Agung Suaryana. 2014. “Pengaruh Kualitas Laporan Keuangan Pada Efisiensi Investasi Perusahaan Pertambangan.” E- Joural Akuntansi Universitas Udayana 8 (3): 524–37.
  34. Sekaran, Uma. 2006. Metodologi Penelitian Untuk Bisnis. Semarang: Badan Penerbit Universitas Diponegoro.
  35. Siahaya, Erwin, Meinarni Asnawi, and Paulus K. Allo Layuk. 2018. “Pengaruh Kompetensi Sumber Daya Manusia, Sistem Pengendalian Intern Pemerintah Dan Penerapan Sistem Akuntansi Keuangan Daerah Terhadap Kualitas Laporan Keuangan Pemerintah Provinsi Papua.” Keuda : Jurnal Kajian Ekonomi Dan Keuangan Daerah 3 (1): 1–16. https://doi.org/10.31957/keuda.v3i1.714.
  36. Sofi Ariani, Putri Asiza Agustien Aulia Rahmah, Yurisha Ramadhani Putri, Maulidatur Rohmah, Antika Budiningrum, and Lutfi. 2015. “Pengaruh Literasi Keuangan, Locus of Control, Dan Etnis Terhadap Pengambilan Keputusan Investasi.” Journal of Business and Banking 5 (2): 257–70. https://doi.org/10.14414/jbb.v5i2.550.
  37. Sudarwanto, Adenk. 2013. Akutansi Koperasi: Pendekatan Praktis Penyusunan Laporan Keuangan. Yogyakarta: Graha Ilmu.
  38. Sudjarweni, V. Wiratna. 2015. Metodologi Penelitian Bisnis Dan Ekonomi. Yogyakarta: Pustaka Baru Press.
  39. Sugiyono. 2013. Metode Penelitian Kuantitatif, Kualitatif Dan R&D. Bandung: Alfabeta.
  40. ———. 2015a. Metode Penelitian Manajemen. Bandung: Alfabeta.
  41. ———. 2015b. Statistika Untuk Penelitian. 26th ed. Bandung: Alfabeta.
  42. Sunyoto, Danang. 2016. Metodologi Penelitian Akuntansi. Bandung: Reflika Adimata.
  43. Tandelilin, Eduardus. 2010. Portofolio Dan Investasi: Teori Dan Aplikasi. Yogyakarta: Kanisius.

Open Access Copyright (c) 2021 Economica: Jurnal Ekonomi Islam

Economica: Jurnal Ekonomi Islam
Published by by the Institute of Islamic Economic Research and Development (LP2EI), Faculty of Islamic Economics and Business UIN Walisongo Semarang
Jl Prof. Dr. Hamka Kampus III Ngaliyan Semarang 50185
Phone: +62 857-1999-1679
Website: https://febi.walisongo.ac.id/
Email: economica@walisongo.ac.id

ISSN: 2085-9325 (Print)
ISSN: 2541-4666 (Online)
DOI : 10.21580/economica

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License

Get a feed by atom here, RRS2 here and OAI Links here

apps