The Impact of Spin-off Policy on the Efficiency of Sharia Insurance in Indonesia using DEA approach

Ghoni, Abdul; Arianty, Erny

doi:10.20885/jielariba.vol7.iss1.art5

Cited by 4 publications

(12 citation statements)

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“…The same opinion was also stated by Al that implementing the spin-off is not yet a variable that is an element in increasing the company's profitability (Al . Similar results were also conveyed by other researchers who stated that there was a decrease in the efficiency level for SBU which had carried out spin-offs (Ghoni & Arianty, 2021). In addition, when comparing the efficiency level between SBU and full-pledge companies, the results show that the efficiency level of UUS is still higher than that of full-pledge companies (Arianty & Ghoni, 2022).…”

Section: Introductionsupporting

confidence: 84%

“…Sunarsih (2018) conducted a study on measuring efficiency using DEA, showing that some SBU were efficient and some were inefficient. Moreover, the efficiency of SBU in generating profit after the spin-off is decreasing (Ghoni & Arianty, 2021). Research related to evaluating the results of the implementation of spin-offs in sharia insurance using a SWOT analysis conducted by Lestari (2020) shows that the sharia insurance industry has the potential to carry out spin-offs to support the expected goals of the spin-off (Lestari, 2020).…”

Section: Previous Researchmentioning

confidence: 99%

“…This goal has not been achieved because, until 2021, only five companies out of 48 SBU have carried out a spin-off. Moreover, since the spin-off, the five companies have decreased their efficiency in obtaining profits (Ghoni & Arianty, 2021).…”

Section: Introductionmentioning

confidence: 99%

“…Caiazza (2014) and De Cleyn ( 2013) conducted research about the factors that support the success of spin-off. The research related to spin-offs in sharia insurance was carried out by several researchers, namely research related to measuring the level of efficiency in the sharia insurance industry using the DEA method (Sunarsih, 2018); (Ghoni & Arianty, 2021) and research related to the measurement of spin off criteria using the ARIMA method (Yunus, 2019); (Nurhayat, 2021). Meanwhile, this research raises the topic of the determinants of effectiveness not only at the time of implementation but also when the spin-off law is still being formulated and initially passed and the form of monitoring and evaluation from the government and regulations.…”

Section: Introductionmentioning

confidence: 99%

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Determinants of the Effectiveness of the Islamic Insurance Industry Spin-Off Implementation in Indonesia with the Analytical Hierarchy Process Approach

Arianty¹,

Khabibi²

2022

J. Islam. Econ. Lariba

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This study aims to analyze the factors that have the highest level of importance in realizing the spin-off implementation of the Sharia Insurance Industry. The method used is qualitative with an Analytical Hierarchy Process (AHP) approach. Data were obtained from FGDs and AHP questionnaires with informants from AASI, the sharia life and general insurance industry, the Sharia Supervisory Board, the government, and regulators. The research results show that the clarity of policy, or spin-off criteria, has the highest importance. The sub-criteria with the highest level of importance is the clarity in value of tabarru funds which is 50% of the parent fund. The next factor is the actual practice in the industry and the function of monitoring and supervision, respectively. The factors that have the highest level of importance in realizing spin-off effectiveness are the relaxation of a specific aspect and the action of the industry, whether to continue or postpone the spin-off. These aspects include the implementation of tax relief based on the book value of the company's assets, relaxation in reducing costs that occur during and after the spin-off until the SBU is stable and independent, policies related to bank assurance, and policies related to capital. The research implication for industry and regulation considers determining integrated and coordinated efforts to achieve an effective spin-off implementation. The limitation of this research is in determining the factors not based on sub-criteria but the factors as a whole. The novelty of this research is in determining the topic and method, namely analyzing the most dominant factors to realize effectiveness with the AHP method.

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Section: Introductionsupporting

confidence: 84%

Section: Previous Researchmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Determinants of the Effectiveness of the Islamic Insurance Industry Spin-Off Implementation in Indonesia with the Analytical Hierarchy Process Approach

Arianty¹,

Khabibi²

2022

J. Islam. Econ. Lariba

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“…; (Cristo & R.W, 2006). Namun, fakta yang terjadi dengan didasarkan pada penelitian sebelumnya dampak spin-off ada yang memberi pengaruh kepada penurunan profit, tingkat efisiensi yang menurun, dan nilai aset yang menurun (AL Arif, 2015); (Fitriyani, 2018); (Ghoni & Arianty, 2021) (Arianty & Ghoni, 2022).…”

Section: Pendahuluanunclassified

Perubahan Capital Aset Pricing Model, Risiko, dan Efisiensi: Triger Unit Asuransi Full-Pledge Syariah

Arianty,

Ghoni

2024

JIEI

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This research aims to analyze changes in capital asset values, risk levels, and efficiency as triggers for sharia insurance units to immediately provide full sharia guarantees. The method used is a quantitative method using financial ratios, Capital Asset Price Model (CAPM), and Financial Ratios. CAPM is used to find stock returns, financial ratios for risk and level of return. The results show that there is a change in PT JMAS stock returns which shows a decline in value. Regarding risk mitigation, the third company demonstrated effective risk control. Jasindo is bolder in taking premium risks, but the company has a strategy to increase the percentage of claims that become liabilities to reinsurance companies. In contrast to the Askrida sharia which is more careful in choosing premiums with high risks, this results in claims values that are relatively low and continue to decline. Finally, only the Askrida Syariah company shows a stable value even though the size is not yet significant. ROA growth at Jasando Syariah is less stable in maintaining returns from the use of its assets. There were less stable changes in ROA during 5 periods, 2017, 2018, 2019, 2021 and 2022..

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The case study of the sharia insurance industry: how far is the spin-off policy being effectively implemented in Indonesia?

Arianty,

Utami,

Yustiani

et al. 2023

JIABR

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Purpose This study aims to analyze the effectiveness of the spin-off policy which includes clarity of objectives and criteria, implementation and monitoring and evaluation functions. Design/methodology/approach The method used is a qualitative method with a theme approach and the analytical hierarchy process (AHP). Data were obtained from the results of focus group discussions and AHP questionnaires with informants from Indonesian Sharia Insurance Association (AASI), the sharia life and general insurance industry, the Sharia Supervisory Board, the government and regulators. Findings The results of the research are the effectiveness of the clarity of goals and criteria has not been realized optimally, the effectiveness of increasing profitability has not been realized, and the effectiveness of the monitoring and evaluation functions by the government and regulators has been realized. The supporting factor that has the highest level of importance is the role of the government and regulator. Research limitations/implications The limitation of this research is that it has not used a wider range of profitability test tools and projections. The theoretical implication of this research is as a reference for robust research in identifying spin-off success factors because this study uses a mixed method where qualitative methods are used in the study using data from theory and expert informants from three parties: regulatory parties, associations (AASI) and the insurance company (life insurance and general insurance). These results form the basis for compiling a questionnaire with a quantitative method so that the data is become relevant based on theory (design) and practical side. Practical implications Practical implication of the study is that the Islamic insurance industry has to prepare to achieve condition of Tabarru funds and the investment reaches 50% of the main insurance fund. AASI, as the sharia insurance industry organization, continues innovating the most suitable form of spin-off that can be achieved by the Sharia business unit and also continues to coordinate with regulators to discuss existing problems. The government and regulators also support the implementation of the spin-off by providing convenience in various aspects such as spin-off period relaxation and government incentive and relaxation to enhance sharia insurance industry. Originality/value The contribution of the results of this research for the government and regulatory agencies is as input in setting policies and regulations related to spin-offs, for the industry is expected to be more prepared in terms of resources, commitment and strategy.

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The Impact of Spin-off Policy on the Efficiency of Sharia Insurance in Indonesia using DEA approach

Cited by 4 publications

References 0 publications

Determinants of the Effectiveness of the Islamic Insurance Industry Spin-Off Implementation in Indonesia with the Analytical Hierarchy Process Approach

Determinants of the Effectiveness of the Islamic Insurance Industry Spin-Off Implementation in Indonesia with the Analytical Hierarchy Process Approach

Perubahan Capital Aset Pricing Model, Risiko, dan Efisiensi: Triger Unit Asuransi Full-Pledge Syariah

The case study of the sharia insurance industry: how far is the spin-off policy being effectively implemented in Indonesia?

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