The Islamic Financial Management Program conducted a webinar as part of its research strengthening and quality improvement program, with the theme "Unveiling Current Research Topics in Islamic Financial Management" on Tuesday, November 24, 2020. The webinar consisted of two sessions: Session 1 from 09:00 AM to 01:30 PM WIB and Session 2 from 01:00 PM to 04:00 PM WIB. The speakers for Session 1 were Mr. Irwan Trinugroho, SE., M.Sc., Ph.D (UNS) and Mr. Bambang Sumintono, Ph.D (University of Malaya), moderated by Dr. Darmawan (Lecturer at the Faculty of Islamic Economics and Business). Session 2 featured Mr. Tastaftiyan Risfandy, S.E., M.Sc., Ph.D (Lecturer at Universitas Sebelas Maret) and Assoc. Prof. Dr. Mahazan Abdul Muthalib (Lecturer at University Sains Islam Malaysia), moderated by Mr. Rizaldi Yusfiarto, M.M (Lecturer at the Faculty of Islamic Economics and Business). The webinar, conducted via Zoom, attracted 165 participants.

In Session 1, Mr. Irwan Trinugroho emphasized the importance of clear contributions to literature in research papers. He discussed how to find research topics, highlighting the significance of contextual contributions, mature and timely subjects, and understanding the context, theory, and methodology. The speaker stressed the need for publishing in journals to support career development, scientific contributions, institutional development, reputation, human development, and competitiveness. He concluded by advising researchers to understand the context, focus on the topic, study the methodology, and start writing when embarking on research.

The second speaker discussed primary data analysis in the field of economics and management using the RASCH model. RASCH is a methodology used in research across disciplines related to human studies. It has become a standard in language and health sciences. The RASCH method helps researchers determine the accuracy of the primary data used. The stages in quantitative research include conceptualizing variables, measuring variables, analyzing variables, and determining relationships between variables. Quantitative research on human measurement involves conceptualizing variables, measuring variables, and analyzing variables, focusing on the relationship between variables. The speaker detailed the conceptual variables, including physical aspects (height, weight, volume, body temperature) and latent aspects covering cognitive abilities.

In Session 2, the first presenter discussed Dynamic Panels: The GMM. GMM (Generalized Method of Moments) is a method used for parameter estimation. The researcher addressed endogeneity issues, emphasizing that the X variable should not be correlated with the error term, as it would impact OLS (Ordinary Least Squares) consistency. GMM estimation allows for more detailed estimation in uncertain parameter data, particularly when the dependent variable has unknown parameters. GMM is applied when there is a lagged dependent variable (Yit-1) and correlation between the error term and endogeneity. Instrumenting the lagged regressor is necessary to address this issue.

The second speaker in Session 2 discussed the main reasons guiding researchers in their understanding, particularly when integrating various Naqli and Aqli sources. The relationship between the problem, theory, and methodology is crucial. Empiricism emphasizes the importance of systematically analyzing experiences and observations as a source of facts. Knowledge obtained only through human senses, whether using Rationalism, Empiricism, or a combination of both approaches, is not stable and consistent, evolving over time. Integrating religious, social, psychological, and cultural knowledge is essential in scientific studies.

Authors: Aulia Nurul Safitri, Inayah Nadhira Pratiwi