Assoc Prof Dr Dodik Siswantoro
University of Indonesia, Accounting, Faculty Member
- State And Local Public Finance, Behavioral Finance, Financial and Investment Analysis, Islamic Finance, Islamic Economics and Finance, Public Finance Theory, and 28 morePublic Budgeting and Finance, Public Finance, Islamic Accounting, Shari'a Auditing, Small and Medium-scale Enterprises, Social Accounting, Takaful Accounting, Zakat Accounting, Waqf Accounting, Nonprofit Accounting, Accounting, Review on Sukuk Researches: Where Are We Now?, MUSHARAKAH MUTANAQISAH, Soft Systems Methodology, System Dynamics Modeling, Public accounting, Public Administration, Zakat, Finance, Banking, Islamic Banking, Download the PDF for Toward a Stewardship Theory of Management (28 pages), International Accounting Standards, Qualitative Methods (Sociology), Analytic Network Process, Analytic Hierarchy Process / Analytic Network Process, Waqf Studies: Concept, and Public sector accountingedit
- Dodik's research interests include Islamic accounting, public sector and investment. He has presented some papers in ... moreDodik's research interests include Islamic accounting, public sector and investment. He has presented some papers in his research area in some International seminars (such as in Malaysia, Brunei, Hongkong, Singapore). In addition, some paper published in some recognized journals.
Previously, he was an analyst in a big securities firm and investment manager in insurance company.edit
Zakat is increasingly important nowadays, especially during the covid-19 pandemic that created bigger demand for zakat and other charitable funds. Not only that, the covid-19 pandemic also accelerates the need for digitalization to... more
Zakat is increasingly important nowadays, especially during the covid-19 pandemic that created bigger demand for zakat and other charitable funds. Not only that, the covid-19 pandemic also accelerates the need for digitalization to support transaction processes-including in collecting and distributing zakat funds-in a safer and convenient way. However, few studies attempt to discuss the literature related to zakat and digitalization. This study fills in the gap by systematically reviewing literature related to zakat in digitalization. In analyzing the literature, it uses a qualitative research method as well as descriptive statistics and VOSviewer software in analysing the qualitative data. The study covers articles published in Mendeley and Scopus database journals during 2016-2021 period. The study highlights several interesting trends in relation to digital zakat literature. First, the main topics related to digital zakat are institutions, zakat collection and efficiency. Second, most of the studies related to digital zakat is published in 2016 and 2020, albeit there are high possibilities that more papers will come in 2021. Third, most studies related to digital zakat use qualitative research method. Fourth, Indonesia is dominating the research on digital zakat as most studies related to digital zakat are mostly discussed as case studies of Indonesia. Fifth, the subtopic mostly discussed within the digital zakat papers is marketing aspect of digital zakat. Sixth, the proportion of female and male authors are relatively the same. Finally, the citations of the papers are relatively still small albeit there is a high possibility that the number will significantly increase in the future. Overall, the study highlights the importance of digital zakat issue in Indonesia. This might be influenced by the fact that zakat potential in Indonesia is very high, while the actual collection is very low. Thus, digitalization of zakat is seen as an important strategy and solution' to solve the problem. In line with this, marketing aspect of digital zakat is also seen and found to be the most researched topic in the area. These results are expected to provide insight for all stakeholders of zakat in developing digital zakat in the future.
The curricula of the undergraduate study programs on Zakat and Waqf management in Indonesia are still in their early stages of development. In this research, we aim to evaluate these curricula using a competency-based approach towards... more
The curricula of the undergraduate study programs on Zakat and Waqf management in Indonesia are still in their early stages of development. In this research, we aim to evaluate these curricula using a competency-based approach towards several study programs. Specifically, we compare the needs of Zakat and Waqf management with the curricula of undergraduate study programs in Indonesian universities. To fulfil our objective, we conduct several interviews with the program heads and practitioners. We also propose a particular curriculum for the study programs on Zakat and Waqf management. For this purpose, we apply a comparative research method and engage in qualitative research. Our results show that some competencies are not accommodated in the current curricula to meet the expectations of the Zakat and Waqf management. Therefore, we argue that it is important to change these curricula content to achieve the expected competencies.
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The research explains both the direct and indirect effects of participatory budgeting on managerial performance by examining organizational culture (people oriented versus job oriented), organizational commitment and perception of... more
The research explains both the direct and indirect effects of participatory budgeting on managerial performance by examining organizational culture (people oriented versus job oriented), organizational commitment and perception of innovation that serves as the moderating variables. The research samples are selected by using the purposive sampling method, with the respondents being the public executives at Kantor Pelayanan Perbendaharaan Negara (KPPN). Data for the study was collected from 68 KPPN. The contingency variables were tested either by using the component-based or variance-based structural equation modeling (known as Partial Least Square). The results of the research were consistent with proxy research, which showed that participatory budgeting had a significant influence on managerial performance. Meanwhile, organizational culture (people oriented versus job oriented), organizational commitment, and perception of innovation do not have a significant influence on the relati...
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In Indonesia, most electricity powers are based on non-renewable resources, which is not good for climate change. Therefore, the use of solar panels based on rooftops is an excellent alternative way to reduce electricity use. Thus, the... more
In Indonesia, most electricity powers are based on non-renewable resources, which is not good for climate change. Therefore, the use of solar panels based on rooftops is an excellent alternative way to reduce electricity use. Thus, the objective of this paper is to analyze the effectiveness of solar panel positioning and Grid Tie Inverter (GTI) in generating solar energy for small- to medium-sized houses in Indonesia. Solar panel usage by residents living in the city may be limited, as the rooftop space in city houses is limited. GTIs can generate different types of power as they have different resources, this is good for climate change as no battery is needed In this research, two different solar panels with different positioning and angles, and connected to different types of GTI, were analyzed. The period of study was from 23rd July 2020 to 5th May 2021. The analysis was based on index comparison and movement of the sun during the said period. The result of the study indicates th...
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This research aims to analyze factors that could affect preferences for zakat rebates (i.e., zakat as a tax deduction) in Malaysia. In 1967, Malaysia’s Income Tax Act legalized zakat and made it tax-deductible. An applied quantitative... more
This research aims to analyze factors that could affect preferences for zakat rebates (i.e., zakat as a tax deduction) in Malaysia. In 1967, Malaysia’s Income Tax Act legalized zakat and made it tax-deductible. An applied quantitative method (SmartPLS) was used to construct a formative model on Muslims in Malaysia. Participants in the research were economics faculty members from universities in Malaysia. The results show that satisfaction affects preferences for zakat rebates and may prove that Muslims pay zakat because they are satisfied with their zakat institution. Other findings show that Malaysian Muslims only focus on income zakat and not on maal (wealth) zakat, which may be caused by the monthly zakat rebate system. This may be the first research paper that discusses zakat rebate preferences in Malaysia using a theory based on service quality and behavioral consequences. Received: 6 December 2021 / Accepted: 29 January 2022 / Published: 5 March 2022
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The paper aims to analyze the consistency and suitable method of company zakat calculation by evaluating the financial reports of companies in the countries: Saudi Arabia, Kuwait, and Malaysia. A previous study shows that the... more
The paper aims to analyze the consistency and suitable method of company zakat calculation by evaluating the financial reports of companies in the countries: Saudi Arabia, Kuwait, and Malaysia. A previous study shows that the misconception on company zakat implicates a recognition and measurement (Adnan & Bakar, 2009). Then, this study describes that the consistency analysis is reviewed by comparing the preferred method in each country and the method that is currently applied by the company, while the suitable method is assessed by exploring all the possible zakat calculation methods that can be employed by the companies. This study discloses company zakat in the financial statements and its available common calculation methods. Descriptive data from financial companies disclosing company zakat in Saudi Arabia, Kuwait, and Malaysia are used. Accordingly, the proposed method would be used in the simulation calculation. Zakat can be based on final, calculated from its net income and n...
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A tax audit policy is intended to increase taxpayer compliance and trust towards tax authority. In Indonesia, the low level of trust carried out by tax audits observed from the taxpayer compliance level shows the shortcoming of... more
A tax audit policy is intended to increase taxpayer compliance and trust towards tax authority. In Indonesia, the low level of trust carried out by tax audits observed from the taxpayer compliance level shows the shortcoming of implementing the tax audit system. Based on this phenomenon, this study is conducted to describe problems regarding the implementation of tax audit policy in Indonesia and provide recommendations for the Indonesian tax authority to transform tax audit policy practised by the tax audit system in the Netherlands. The Netherlands was selected as the research site, for this country is one of the OECD pioneers and has been part of AEoI. This study applied a qualitative approach. An in-depth interview was used to collect the data from competent parties in tax audits, both in Indonesia and the Netherlands. The findings showed that two factors caused the shortcoming of the tax audit system in Indonesia. First, the database was not maximal due to nonoptimal digitalisa...
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Significant demand for Indonesian green sukuk did not automatically relate to the performance after issuance. The performance was not good as expected due to macroeconomic factor. Thus, this paper aims to analyze the performance of second... more
Significant demand for Indonesian green sukuk did not automatically relate to the performance after issuance. The performance was not good as expected due to macroeconomic factor. Thus, this paper aims to analyze the performance of second green sukuk performance issuance as well as other green bonds in Indonesia. The research employes the descriptive method based on the price movement of green sukuk with others for benchmarking and correlation analysis. The result is different from the previous research such as Euro currency that does not affect Indonesian USD-based green sukuk. In addition, second Indonesian green sukuk is better than the previous one, and local green bond has a better performance than Indonesia green sukuk.
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This paper aims to analyze the preparedness response of tax offices on the issue of the zakat as a taxable-income deduction. Act No. 17/2000, at the top level, and Government regulation No. 60/2010 supports this policy in detail. However,... more
This paper aims to analyze the preparedness response of tax offices on the issue of the zakat as a taxable-income deduction. Act No. 17/2000, at the top level, and Government regulation No. 60/2010 supports this policy in detail. However, many people do not claim restitution regarding this policy. This paper uses primary data gathered from phone interviews. Seven tax offices, including service centers, were interviewed in March 2012. The paper provides evidence that each tax office had different responses, provided less information, and acted unsupportive on the issue. In addition, the process of restitution for tax claims is difficult and unfavorable from the zakat payer’s perspective. New tax regulations must be supported by clear information socialization and efficient tax restitution process from tax the office. Otherwise, it would not be effective as the benefits may be smaller than the effort. Keywords: Zakat, tax office, response, Indonesia, preparedness
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Inconsistency in using cash waqf terminology in the Indonesian language causes problems in the socialization and fund raising waqf fund as inconsistency terminology. This paper tries to analyze the inconsistency of cash waqf in the... more
Inconsistency in using cash waqf terminology in the Indonesian language causes problems in the socialization and fund raising waqf fund as inconsistency terminology. This paper tries to analyze the inconsistency of cash waqf in the Indonesian language and offers the typology of waqf type in Indonesia. Research methodology is used by studying literature in waqf academically and interviewing some informants. Mapping the duality of terminology can be from sources including waqf institutions, government waqf body, and practitioners. Results may show that the duality of cash waqf in the Indonesian language can be caused by inexistence of a definition of cash waqf in the regulations. Mapping the typology of cash waqf type can make it easier to define the purpose of cash waqf in Indonesia.
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Purpose – The purpose of this paper is to investigate the perception and awareness of Islamic accounting of undergraduate accounting students at Universitas Indonesia. The Indonesian Institute of Accountants has an Islamic Accounting... more
Purpose – The purpose of this paper is to investigate the perception and awareness of Islamic accounting of undergraduate accounting students at Universitas Indonesia. The Indonesian Institute of Accountants has an Islamic Accounting Certification and a Certified Public Accountant (CPA) test, meaning that the course’s competency should satisfy both Islamic and CPA certification standards to be effective. Design/methodology/approach – The researcher used primary data obtained from a questionnaire. This research was based on the students’ understanding of Islamic accounting at the beginning of the class and at the middle of the semester. The sample test included questions based on the course’s syllabus. Each statement in the questionnaire represented the main topic of each week of the class. Data were analyzed using descriptive statistics, correlation analysis and tests of differences between groups of the sample. Findings – The results showed that few students were aware of Islamic a...
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An Islamic bank has been established in Indonesia since 1992, but there is only one Islamic bank, Bank Panin Syariah, which has listed its shares on the stock exchange, which happened in 2014. This listing was initiated by a new fully... more
An Islamic bank has been established in Indonesia since 1992, but there is only one Islamic bank, Bank Panin Syariah, which has listed its shares on the stock exchange, which happened in 2014. This listing was initiated by a new fully fledged Islamic bank, which was established in 2009. Thus, the objective of this paper is to investigate the supporting factors of an Initial Public Offering (IPO) and its effect on an Islamic bank. This is the first case in Indonesia, and it may offer a few good lessons for others. The qualitative method was used by the author to analyse relevant documents and information regarding the Islamic bank's IPO, such as prospectuses, news, research reports and stock prices. Topics that covered the supporting factors in an IPO include the utilisation of funds and an event study in share issuance by an Islamic bank in Indonesia. The results may indicate that it is quite difficult to sell shares for a new bank, because the utilisation of funds to boost new branches and the performance of the stock prices are affected by specific issues.
The aim of this research is to identify the supporting factors for the sustainable development of productive cash waqf institutions in Indonesia. Currently, cash waqf in Indonesia is still mainly in the social sector, such as mosque... more
The aim of this research is to identify the supporting factors for the sustainable development of productive cash waqf institutions in Indonesia. Currently, cash waqf in Indonesia is still mainly in the social sector, such as mosque development and social hospitals. Therefore, productive cash waqf must be developed further, especially for the supporting factors. The research method used is based on a qualitative case study with four productive cash waqf institutions. Some supporting factors are identified using main nodes in each aspect. The result shows that each aspect has an important issue, such as education (need early education on waqf), economics (supporting system to pay waqf), media culture (habitual activity to pay waqf), environment (not so familiar) and politics (supporting regulations and promotion). The additional helix is the belief of Muslims to participate in waqf which is the main factors.
It is recognized that most students and less experienced researchers think or believe that they have to apply either fixed effects model (FEM) of random effects model (REM), based on panel data, because they are highly dependent on the... more
It is recognized that most students and less experienced researchers think or believe that they have to apply either fixed effects model (FEM) of random effects model (REM), based on panel data, because they are highly dependent on the conclusion of the Hausman tests (1978), without considering the characteristics of each models, moreover their limitations, or hidden and unrealistic assumptions. In fact, there is another type of models that should be considered as acceptable models, in both theoretical and statistical senses, namely heterogeneous regressions model (HRM), based on panel data (Agung, 2014). Furthermore, it is found that based on the same set of variables, a lot of FEMs, REMs, and HRMs can easily be defined. On the other hand, Baltagy (2008) presented the notes "Having discussed the fixed effects and random effects models and the assumptions underlying them, the reader is left with the daunting question, which one to choose? In fact, the fixed versus random effects issue has generated a hot debate in the biometrics and econometrics literature which is spilled over into the panel data econometrics literature". Based on those reasons, this paper presents detail characteristics or limitations of various panel data models, starting with the simplest possible model, based on a numerical bivariate (Xit,Yit). By comparing the models that have the same set of variables, then the best model and the worst model can easily be declared. For a comparison, some selected models from the international journals are quoted to identify their characteristics as well as their limitations.
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This research aimed to analyze the accountability type of endowment institutions in ASEAN countries. Each country may have specific accountability characteristics as affected by its milieu. The research used the qualitative method and is... more
This research aimed to analyze the accountability type of endowment institutions in ASEAN countries. Each country may have specific accountability characteristics as affected by its milieu. The research used the qualitative method and is based on the post-positivist paradigm. Data collection is based on interviews, and unit analysis of endowment institutions are collected from three countries (Indonesia – four institutions, Malaysia – two institutions and Singapore – one institution). The result showed that only Indonesia cannot be classified for accountability type, followed by Malaysia, while Singapore may have a clear pattern of accountability logic. Type of paper: Empirical Keyword: Accountability, waqf, type, ASEAN, culture.
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The purpose of this paper is to test and prove empirically the influence of the characteristics of the board of directors on earnings management. The characteristics of the board of directors used in this study are Islamic education... more
The purpose of this paper is to test and prove empirically the influence of the characteristics of the board of directors on earnings management. The characteristics of the board of directors used in this study are Islamic education background, size, number of independent directors and the financial background of members of the board of directors. The research sample is Islamic banks in Indonesia during 2013-2017. Data is taken from annual reports which can be accessed on the Islamic bank website. The proxy used to measure the amount of earnings management uses Discretionary Loans Loss Provision (DLLP). The results of this study indicate no significant results. The characteristics of the board of directors have no influence on the practice of earnings management in Islamic banks.
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Islamic Banking is based on the Islamic financial system. It is a banking system whose fundamental rules and regulations are established on Shariah laws i.e., Islamic jurisprudence originated from the Quran and Sunnah of the Prophet... more
Islamic Banking is based on the Islamic financial system. It is a banking system whose fundamental rules and regulations are established on Shariah laws i.e., Islamic jurisprudence originated from the Quran and Sunnah of the Prophet Muhammad peace be upon him. Its functions must comply with Shariah rules and must not violate any Shariah principle. The Islamic finance system is based on Profit-loss sharing financing namely, Musharakah and Mudharabah but there are numerous issues and challenges faced by Islamic bank during the implementation of Musharakah and Mudharabah financing contracts. The various paper has been revealed some of the internal and external factors in this context, but the study is still unexplored in Pakistan. This paper aims to highlight those obstacles factors that affect the application of Musharakah and Mudharabah financing by Islamic Banks in Pakistan. This paper is based on the critical analysis of the related literature on the concepts of Profit-loss sharing...
Historically, the Islamic state collected zakat (similar to the tithe of other regions) as national income. In Indonesia, the private sector can raise zakat funds more effectively than the government. In 2010, zakat became tax-deductible... more
Historically, the Islamic state collected zakat (similar to the tithe of other regions) as national income. In Indonesia, the private sector can raise zakat funds more effectively than the government. In 2010, zakat became tax-deductible income. This paper tries to analyze some factors that affect preference for zakat as a tax deduction in Indonesia. The effectiveness of the regulation is also investigated. In addition, zakat can deduct tax is a plan for next regulation proposal. This research also aims to see for further action, zakat can deduct tax. Research methodologies were hard copy and online questionnaires and phone interviews with the tax office's customer service. Samples were taken from April through June 2012. Results showed that motivation and trust factors affected the preference for tax-deductible zakat, while most tax officers were not aware of the popular concern about zakat as a tax deduction. We propose involving human resources departments in companies' d...
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Purpose This study aims to provide empirical evidence on the role of corporate governance mechanisms in reducing earnings-management practices in Islamic banks in Asia. Design/methodology/approach This study used 28 Islamic banks in Asia,... more
Purpose This study aims to provide empirical evidence on the role of corporate governance mechanisms in reducing earnings-management practices in Islamic banks in Asia. Design/methodology/approach This study used 28 Islamic banks in Asia, which were listed on the stock exchange from 2013–2017. The research method used quantitative regression with data on the characteristics of Islamic banks taken from the websites of each bank. This study used discretionary loan loss provision as a proxy for measuring earnings management. Findings The results show that only the audit committee size has a significantly negative effect on earnings management. An independent audit committee has a negative, but not significant, effect. The difference expectation signs cannot be interpreted further. Research limitations/implications Only a few components of corporate governance were tested in this study. Therefore, it is expected that future studies will include more components. Practical implications In...
In Islamic banking, sustainability practices and its reporting are very low, due to limited literature and framework for measuring sustainability. This study measures the level of sustainability practices (economic, environmental, and... more
In Islamic banking, sustainability practices and its reporting are very low, due to limited literature and framework for measuring sustainability. This study measures the level of sustainability practices (economic, environmental, and social) based on GRI (Global Reporting Initiative) items that are transformed with Maqasid Al-Sharia theory and investigate how they affect financial performance. Using content analysis techniques in annual and sustainability reports for period 2014 - 2018, the results indicate that there has been increasing sustainability practices in Islamic banking but this practice has a weak influence on financial performance. These results support an urgent need for appropriate sustainability guidelines for Islamic banking, especially in Indonesia.
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This research seeks to analyze the relevance of Prophet Muhammad’s (peace be upon him) (PBUH) type of governmental budget in the current Indonesian context, in which Muslims constitute the biggest population. In its early stage of... more
This research seeks to analyze the relevance of Prophet Muhammad’s (peace be upon him) (PBUH) type of governmental budget in the current Indonesian context, in which Muslims constitute the biggest population. In its early stage of development, Islam grew and spread rapidly after the Prophet moved to Medina from Mecca. At that time, the spread of Islam was indirectly supported by a budget. It only took ten years from scratch for the Prophet to reach the stage of doing battle with the Roman Empire. The research method used in this paper is a qualitative method with a postpositive paradigm. The data was collected from secondary sources and discussions of specific issues in news media. The results showed that some components of the public budget, such as ghanima (war booty), fai (booty), and jizya (non-Muslim tithe), need to be modified to be relevant to the current Indonesian context. Other countries have applied ghanima and fai in different ways. However, such other practices as zakat...
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This research was conducted to determine the comprehension level of mudharabah contract by customers in Islamic bank (Indonesia). The questionnaires was sent to customers who have bank account under mudharabah contract (150 sent, final... more
This research was conducted to determine the comprehension level of mudharabah contract by customers in Islamic bank (Indonesia). The questionnaires was sent to customers who have bank account under mudharabah contract (150 sent, final sample 101). Total banks involved were 5 out 10 Islamic banks in Indonesia. The results of this study indicate that some customers are familiar with the mudharabah contract in Islamic banks as well as the risk of mudharabah in Islamic banks. This research may conclude that if customer saved their fund for a longer time in a syariah bank, the customer should understand if they may bear all risks for certain cases.