Spin-Off Policy of Sharia Bank: Is It Profitable?
Abstract
According to Law no. 21 Year 2008, the Sharia Business Unit (SBU) owned by a Conventional Commercial Bank (CCB) is required to separate from its Parent Bank before year 2023. Some Sharia Business Units have initiated a separation step from Conventional Commercial Bank. On the other hand, they are required to keep the level of efficiency in running its business operations. This paper is intended to analyze the efficiency level of Sharia Business Units that have separated from its parent and then compare whether there is difference of efficiency level between before and after separation. The method used is Data Envelopment Analysis (DEA) and Paired Sample t-Test.
The results show that based on the total average efficiency of all sharia banks spin off (in this case four sharia banks namely BNI Sharia, BRI Sharia, BJB Sharia and Bukopin Sharia Bank), there occur a decrease in efficiency technically and also pure the technical itself in sharia banks starting from before and after the spin off. This can be read because in the early periods of spin off there was a cost adjustment on the shariah bank spin off. Sharia banks require a 'weaning' from their parents. Nevertheless, there is no statistically significant difference in efficiency levels between before and after the spin off. This should be a booster for other Sharia Business Units to take the decision to spin off immediately, of course, accompanied by careful and prudent planning and implementation.
Keywords
References
Andersen, P., and Petersen, N.C. (1993), “A procedure for ranking efficient units in DEA”, Management Science, Vol.39, pp. 1261-1264.
Ascarya dan Yumanita, 2007, Analisis Efisiensi Perbankan Sharia di Indonesia dengan Data Envelopment Analysis, TAZKIA Islamic Finance and SCBiness Review, Vol.1, No.2, Desember 2006.
Bank Indonesia (2007), Cetak Biru Pengembangan Perbankan Sharia Indonesia, www.perpustakaan.kemenkeu.go.id
Banker, R.D., Charnes, A., and Cooper, W.W. 1984. Some Models for Estimating Technical and Scale Inefficiency in Data Envelopment Analysis.Management Science, 30 (9): 1078-92.
Bessent, A.M., Bessent, E.W., Elam, J., and Clark, C.T. (1988), “Efficiency frontier determination by constrained facet analysis”, Operations Research, Vol. 36, pp. 785-796.
Caves et.al. 1982. The Economic Theory of Index Number and The Measurement of Input, Output and Productivity. Econometrica, 50 (6):1393-1414.
Charnes, A., Cooper, W.W., and Rhodes, E. 1978. Measuring the Efficiency of Decision Making Units.European Journal of Operation Research, 2 (6): 429-44.
Charnes, A., Cooper, W.W., Huang, Z.M., and Sun, D.B. (1990), “Polyhedral cone-ratio DEA models with an illustrative application to large commercial banks”, Journal of Econometrics, Vol. 46: 73-91.
Charnes, A., Cooper, W.W., Golany, B., Seiford, L.M., and Stutz, J. (1985), “Foundations of DEA and Pareto-Koopmans empirical production functions”, Journal of Econometrics, Vol. 30: 91-107.
Charnes, A., Clarke, C., Cooper, W.W., and Golany, B. (1985), “A development study of DEA in measuring the effect of maintenance units in the US Air Force”, Annals Operation Research, Vol.2: 95-112
Coelli, Timothy J, D.S. Prasada Rao, Christopher J. O’Donnell dan George E. Battese, 2005, An Intoduction to Efficiency and productivity Analysis, edisi kedua, Springer
Cook, W.D., Chai, D., Doyle, J., and Green, R.H. (1998), “Hierarchies and groups in DEA”, Journal of Productivity Analysis, Vol.10:177-198
Cook, W.D., Hababou, M., Tuenter, H. (2000), “Multi-component efficiency measurement and shared inputs in data envelopment analysis: An application to sales and service performance in bank branches”, Journal of Productivity Analysis, Vol. 14, pp. 209-224.
Cooper, W.W., Park, K.S., and Yu, G. (1999), “IDEA and AR-IDEA: Models for dealing with imprecise data in DEA”, Management Science, Vol. 45, pp. 597-607.
Deprins, D., Simar, L., and Tulkens, H. (1984), “Measuring labor-efficiency in post offices”, in Marchand, M., Pestieau, P., and Tulkens, H. (Eds). The performance of public enterprises – Concepts and measurement, Amsterdam, North-Holland, 243-267.
Effendi, Yuventus. (2016), “Measuring efficiency of the Indonesian Islamic Banks”, KajianEkonomiKeuangan, Vol. 20 No. 2.
Fare, R., and Grosskopf, S. (1996), Intertemporal Production Frontiers: With Dynamic DEA. Boston, MA: Kluwer Academic.
Firdaus, M.F., Muhammad N.Hosen. 2013. Efisiensi Bank Umum Sharia Menggunakan Pendekatan Two Stage Data Evelopment Analysis.BuletinEkonomiMoneterPerbankan Bank Indonesia Vol 16 (2) Tahun 2013. Jakarta
Groebner, David F., Patrick W. Shannon, Phillip C. Fry dan Kent D. Smith (2008), SCBiness Statistics: A Decision-Making Approach, 7th edition Prentice-Hall, Inc.
Hadad, Muliaman., Wimboh Santoso, Dhaniel ilyas, Eugenia mardanugraha (2003), Analisis Efisiensi Industri Perbankan Indonesia: Penggunaan Metode Nonparametrik Data Envelopment Analysis (DEA), Bank Indonesia.
Nasuha, Amalia (2012), “Dampak Kebijakan Spin-Off terhadap Kinerja Bank Sharia”, Al-Iqtishad Vol. IV No. 2.
Nurfalah, I., Rusydiana, A.S., Laila, N., and Cahyono, E.F. 2018, “Early warning to banking crises in the dual financial system in Indonesia: The markov switching approach”, JKAU: Islamic Economics, Vol.31, No.2, pp.133-156.
Pastor, J.T., Ruiz, J.L., and Sirvent, I. (1999), “An enhanced DEA Russel graph efficiency measure”, European Journal of Operational Research, Vol. 115, pp. 596-607
Peraturan Bank Indonesia (PBI) Nomor 11/10/PBI/2009 Tentang Unit Usaha Sharia
Rusydiana, Aam S. (2018). “Indeks malmquist untuk pengukuran efisiensi dan produktivitas bank syariah di Indonesia”, Jurnal Ekonomi dan Pembangunan LIPI, Vol.26, No.1, pp.47-58.
Rusydiana, Aam S., and Yulizar D. Sanrego, (2018). “Mesuring the performance of Islamic banking in Indonesia: An application of Maslahah efficiency quadrant (MEQ)”. Journal of Monetary Economics and Finance, Vol 3 Special Issue, pp.103-130.
Rusydiana, Aam S, and Irman Firmansyah, (2017). “Efficiency versus Maqasid sharia index: An application on Indonesia Islamic bank”. Shirkah Journal of Economics and Business, Vol 2 No 2.
Rusydiana, Aam S, and Salman Al Parisi, (2016). “The measurement of Islamic bank performance: A study using maqasid index and profitability”. Global Review of Islamic Economics and Business, Vol. 4, No. 1, pp.1-14.
Rusydiana, A.S. dan Tim SMART Consulting. (2013). Mengukur Tingkat Efisiensidengan Data Envelopment Analysis. Bogor: SMART Publishing.
Sengupta, J.K. (1992), “A fuzzy systems approach in data envelopment analysis”, Computers & Mathematics with Applications, Vol. 24(9): 259-266.
Sexton, T.R., Silkman, R.H., Hogan, A.J. (1986), “Data envelopment analysis: Critique and extensions”. In: Silkman, R.H. (Ed), Measuring Efficiency: An assessment of Data Envelopment Analysis, Vol. 32, Jossey-Bass, San Francisco, pp. 73-105.
Simar, L, and Wilson, P.W. (1998), “Sensitivity analysis of efficiency scores: How to bootstrap in nonparametric frontier models”, Management Science, Vol. 44(1): 49-61
Siswadi, Erwinta., R. Nugroho Purwantoro (2005), Paradigma baru pengukuran efisiensi kinerja relatif berbasis pendekatan matematik, Manajemen Usahawan No. 06 TH XXXIV Juni 2005.
Statistik Perbankan Sharia Bulan Mei Tahun 2016
Sufian, Fadzlan. 2006. “The Efficiency of Islamic Banking Industry: A Non-Parametric Analysis with Non-Discretionary Input Variable”. Islamic Economic Studies Vol. 14, No. 1 dan 2..
Thompson, R.G., Singleton, Jr.F.D, Thrall, R.M., and Smith, B.A. (1986), “Comparative site evaluations for locating a high-energy physics lab in Texas”, Interfaces, Vol. 16, pp. 35-49.
Tone, K. (2001), “A slacks-based measure of efficiency in DEA”, European Journal of Operational Research Vol. 130:498-509.
Umam, Khoirul (2010), Peningkatan ketaatan Sharia melalui pemisahan (spin-off) Unit Usaha Sharia Bank Umum Konvensional, Mimbar Hukum Vol. 22 No. 3, hal 607-624
Undang-undang No. 21 tahun 2008 tentang Perbankan Sharia
Wahab, Hosen dan Muhari. 2014. Komparasi Efisiensi Teknis Bank Umum Konvensional dan Bank Umum Sharia di Indonesia dengan Metode Data Envelopment Analysis. Jurnal Aliqtishod Vol 6 No 2. 2014
www.bjbsyariah.co.id/tentang-bjb-syariah/sekilas-bjb-Sharia/
www.bnisyariah.co.id/sejarah-bni-syariah , accessed on 07-August 2016
www.brisyariah.co.id, sejarah BRI syariah, accessed on 07-August 2016
www.syariahbukopin.co.id/id/tentang-kami/profil-perusahaan
DOI: 10.15408/aiq.v11i2.9157
Refbacks
- There are currently no refbacks.
