CORPORATE GOVERNANCE AND MAQASID SHARIA PERFORMANCE ON ISLAMIC BANKS IN INDONESIA

Sulistiawati Sulistiawati, Annisa Fithria

Abstract


The implementation of good corporate governance (GCG) can be seen in the relationship between the main elements of GCG mechanisms implemented by the board of commissioners (BOC) as supervisors, the board of directors (BOD) as managers, and the sharia supervisory board (SSB) as directors, consultants, and supervisors on sharia compliance of Islamic banks. This study aims to analyze the effect of corporate governance on the maqasid sharia-based performance of Islamic banks (Bank Umum Syariah–BUS) in Indonesia from 2016 to 2019. Corporate governance is proxied by the number of BOC, BOD, the audit committee, and SSB. Based on the purposive sampling criteria, 8 BUS are used as samples in this study, with a total of 32 observations. The type of data used is secondary data in the form of annual reports and GCG reports. The data analysis technique used is multiple regression analysis. The results show that BOC has a negative effect on the maqasid sharia-based performance of Islamic banks. In contrast, BOD positively impacts the maqasid sharia-based performance of Islamic banks. On the other hand, the audit committee and SSB do not affect the maqasid sharia-based performance of Islamic banks.


Keywords


Corporate Governance; Maqasid Sharia; Islamic Banks; Audit Committee; Sharia Supervisory Board.

Full Text:

PDF

References


Adams, R. B., & Mehran, H. (2012). Bank Board Structure and Performance: Evidence for Large Bank Holding Companies. Journal of Financial Intermediation, 21, 243–267. https://doi.org/10.1016/j.jfi.2011.09.002

Al-Matari, Y. A., Al-Swidi, A. K., Fadzil, F. H. B., & Al-Matari, E. M. (2012). Board of Directors, Audit Committee Characteristics and Performance of Saudi Arabia Listed Companies. International Review of Management and Marketing, 2(4), 241–251.

Anton. (2018). Pengaruh Mekanisme Islamic Corporate Governance Terhadap Kinerja Bank Syariah di Indonesia Berdasarkan Maqashid Syariah Indeks. Jurnal Bisnis Dan Manajemen Islam, 6(1), 36–52. https://doi.org/http://dx.doi.org/10.21043/bisnis.v6i1.3696

Arfiani, L. R., & Mulazid, A. S. (2017). Analisis Faktor-Faktor yang Mempengaruhi Tingkat Bagi Hasil Simpanan Mudharabah pada Bank Umum Syariah Indonesia Studi Kasus pada Bank Umum Syariah di Indonesia Periode 2011-2015. IQTISHADIA: Jurnal Ekonomi & Perbankan Syariah, 4(1), 1–23. https://doi.org/10.19105/iqtishadia.v4i1.1132

Azis, M. T. (2018). Analisa Kinerja Perbankan Syariah Indonesia Ditinjau Dari Maqasyid Syariah. Al-Amwal : Jurnal Ekonomi Dan Perbankan Syari’ah, 10(1). https://doi.org/10.24235/amwal.v10i1.2808

Bansal, N., & Sharma, A. K. (2016). Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India. International Journal of Economics and Finance, 8(3), 103–116. https://doi.org/10.5539/ijef.v8n3p103

Bouaziz, Z., & Triki, M. (2012). The Impact of the Presence of Audit Committees on the Financial Performance of Tunisian Companies. International Journal of Management & Business Studies, 2(4), 57–64.

Ghabayen, M. A. (2012). Board Characteristics and Firm Performance: Case of Saudi Arabia. In International Journal of Accounting and Financial Reporting (Vol. 2). https://doi.org/10.5296/ijafr.v2i2.2145

Hoque, M. Z., Islam, R. M., & Ahmed, H. (2013). Corporate Governance and Bank Performance: The Case of Bangladesh. SSRN Electronic Journal, 1–37. https://doi.org/10.2139/ssrn.2208903

Jensen, M., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360.

Kholid, muamar nur, & Bachtiar, A. (2015). Good Corporate Governance Dan Kinerja Maqasid Syariah. Good Corporate Governance Dan Kinerja Maqasid Syariah, 19(2), 126–136. https://doi.org/https://doi.org/10.20885/jaai.vol19.iss2.art4

Majid, R., & Ghofar, A. (2016). Analisis Pengaruh Pelaksanaan Good Corporate Governance (GCG) Terhadap Pencapaian Maqashid Syariah di Perbankan Syariah Indonesia (Tahun 2012-2015). Jurnal Ilmiah Mahasiswa Fakultas Ekonomi Dan Bisnis, 5(2).

Maurya, V. N., Sharma, R. S., Aljebori, S. T. H., Maurya, A. K., & Arora, D. K. (2015). Correlattion Analysis between the Corporate Governance and Financial Performance of Banking Sectors using Parameters Estimation. American Journal of Theoretical and Applied Statistics, 4(2–1), 27–32. https://doi.org/10.11648/j.ajtas.s.2015040201.14

Mohammed, M. O., Razak, D. A., & Taib, F. M. (2008). The Performance Measures of Islamic Banking Based on the Maqasid Framework. IIUM International Accounting Conference (INTAC IV).

Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks. Journal of Banking and Finance, 58(C), 418–435. https://doi.org/10.1016/j.jbankfin.2015.04.030

Muttaqin, M. B., & Ullah, M. S. (2012). Corporate governance and bank performance: Evidence from Bangladesh. Corporate Board: Role, Duties and Composition, 8(1), 62–68. https://doi.org/10.22495/cbv8i1art5

OJK. (2009). Peraturan Bank Indonesia Nomor 11/33/PBI/2009. PBI.

OJK. (2020). Statistik Perbankan Syariah per Juni 2020. Snapshot Perbankan Syariah, 1–6.

Prilevi, R., Muhammad, R., & Arifin, J. (2020). Determinan Kinerja Maqashid Syariah Perbankan Syariah Indonesia. Jurnal Kajian Akuntansi, 4(1), 78. https://doi.org/10.33603/jka.v4i1.3318

Sulistyawati, A. I., Ati, H., & Santoso, A. (2020). Telisik Faktor Pengaruh Kinerja Maqashid Syariah Bank Syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 6(2), 142–150.

Syukron, A. (2013). Good Corporate Governance di Bank Syariah. Ekonomi Dan Hukum Islam, 3(1), 60–83.




DOI: http://dx.doi.org/10.30984/tjebi.v6i2.1633

Article Metrics

Abstract view : 563 times
PDF - 552 times

Refbacks

  • There are currently no refbacks.


Tasharruf: Journal Economics and Business of Islam is indexed by:

JURISMA : Jurnal Riset Bisnis & Manajemen
       



       

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

________________________________________________________
Tasharruf: Journal Economics and Bussiness of Islam is published by Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Negeri (IAIN) Manado

Jl. Dr. S. H. Sarundajang Kawasan Ring Road I Malendeng Manado, Sulawesi Utara, Indonesia 95128
Email: tasharruf@iain-manado.ac.id

ISSN Print: 2528-0317 ISSN Online: 2528-0325