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Abstract
This study offers an alternative governance (arrangement) mudharaba contract resulting mudharaba institutions that benefit both parties (principal and agent). With interviews obtained two important findings: first, the character of prospective clients is an important determinant of the creation of a contract as collateral material (should) not be used as a tool to compensate for the risk, and the second is that monitoring is key to the process of contract enforcement. Based on existing findings, to develop an institutional design that is expected mudharaba fair and beneficial to both parties, the bank / Shohibul mall as the principal and client / mudarib as an agent.
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References
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- Agus. (2007). “Mudharabah dan Musyarakah Core Business Bank Syariahâ€. www.pkes.org/?page=info_list&id=51&PHPSESSID
- Algoud, Latifa M and Mervyn K. Lewis. (2003). Perbankan Syariah; Prinsip Praktik Prospek, terjemahan, PT serambi Ilmu Semesta.
- Anonymous. (2001). Info Bank no. 288/November 2001/vol XXIII
- Anonymous. (2009). “Sekilas Perbankan Syariah di Indonesiaâ€. Diakses pada www.bi.go.id/web/id/Perbankan/Perbankan+Syariah
- Bashir, Abdel Hameed M. (2000). “Limited Liability, Moral Hazard and Financial Constraints in Profit-Sharing Contractâ€. Prepared for the Fourth International Conference on Islamic Economic and Banking, August 13-15, 2000, Loughborough University, U. K.
- Bech, Mickael. (2008). “Sales Managementâ€. www.sam.sdu.dk diakses tanggal 14 Februari 2008 jam 09.15. Hal 1
- Beckert, Jens. (2003). “Economic Sociology and Embeddedness: How Shall We Conceptualize Economic Action?â€. Journal of Economic Issues, Vol. 37, 2003. Hal 1
- Beckert, Jens. (2007). “The Social Order of Marketsâ€. MPIfG Discussion Paper 07 / 15 Max-Planck-Institut für Gesellschaftsforschung, Köln Max Planck Institute for the Study of Societies, Cologne. December 2007. Hal 5
- Blumer, Herbert. (1969). Symbolic Interactionism. Perspective and Method. Prentice-Hall Inc. USA.
- Chapra. M. Umer. (2001). Masa Depan Ilmu Ekonomi, Sebuah Tinjauan Islam. Jakarta: Gema Insani Press.
- Charon, Joel M. (1979). Symbolic Interactionism: An Introduction, an Intepretation, an Integration. Upper Sadde River, NJ: Prentice – Hall. Hal 23
- Chajewski, Leszek. (2008). “Theory in Economic Sociology. Institute for Political Studies, the Polish Academy of Sciencesâ€. http://www.collegium.edu.pl/chajewski/Chajewski2005a.pdf diakses pada tanggal 14 Februari 2008 pukul 12.02 wib. Hal 2
- Dugger, William M. (1988). “A Research Agenda for Institutional Economicsâ€. Journal of Economics Isssues. Vol. XXII No. 4 Dec 1988. Hal 983
- Elster, Jon. (1989). “Social Norms and Economic Theoryâ€. Journal of Economic Perspective. No. 3. Hal 99
- Fukuyama. Francis. (2002).â€The Great Disruptionâ€. Hakikat Manusia dan Rekonstitusi Tatanan Sosial. Yogyakarta: CV. Qalam. Hal 278
- Harvey, John T and Michael A. Katovick. (1992).†Symbolic Interactionism and Institutionalism: Common Rootsâ€, Journal of Economic Issues. Vol. XXVI No. 3 September 1992. Hal 800
- Holmstrom. (1982). Holmstrom (1982:324, http://jleo.oxfordjournals.org)
- Idat, D.G. (2001). Memberdayakan Sistem Bagi Hasi Bank Syariah Menjadi Win-Win Solution And Happy Bisnis. Pengembangan Perbankan September-Oktober No.91 2001.
- Jensen, Michael C and William H. Meckling. (1976). “Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structureâ€. Journal of Financial Economics. Oktober, 1976, Volume 3. No. 4. Hal 308
- Khalil, Abdel Fattah, Colin Rickwood and Victor Murinde. (2000). “.Agency Contractual Problems in Profit-Sharing (Mudarabah) Financing Practices by Interest-Free Banksâ€. Prepared for the Fourth International Conference on Islamic Economic and Banking, Loughborough University, U.K.
- Karim, A.A.(2001). Ekonomi Islam Suatu Kajian Kontemporer. Gema Isani Press.Jakarta
- Kherallah, Mylene and Johann Kirsten. (2001). The New Institutional Economics: Aplications for Agricultural Policy Research in Developing Countries. MSSD Discussion Paper No. 41.
- Lin, Justin Y.(1999). An Economic Theory of Institutional Change. in Colin Barlow. Institutions and Economic Change in Southeas Asia. Edward Ellgar. Cheltenham, UK. Northampton, MA.USA. Hal 6
- Mannan, Muhammad Abdul. (1993). Teori dan Praktek Ekonomi Islam. Yogyakarta: PT. Dana Bhakti Wakaf.
- Mantzavinos, Chrysostomos. (2001). Individuals, Institutions, and Markets. Cambridge University Press. Hal 54
- Miller, Nolan. (2005). Notes on the Principle-Agent Problem. http://www.people.fas.harvard.edu/~aeggers/patheory.pdf. diakses pada 19 Februari 2008, pukul 9.31 wib. Hal 1
- Nicholson, Walter. (1990). Intermediate Microeconomics, The Dryden Press. Hal 430
- Peukert, Helge. (2001). “Bridging Old and New Institutional Economics: Gustav Schmoller and Douglass C. North. Seen with Oldinstitutionalists’ Eyesâ€. European Journal of Law and Economics. March 2001. Hal 92, 93
- Staveren, van Irene. (1999). “Chaos Theory and Institutional Economic: Metaphor or Model?â€. Journal of Economic Issues. Vol. XXXIII No. 1 March 1999. Hal 142
- Siamat, Dahlan. (1993). Manajemen Bank Umum. Intermedia. Jakarta. Hal 212
- Sumitro, Warkum. (2002). Asas Asas Perbankan Islam dan Lembaga Lembaga Terkait; BMI dan Takaful di Indonesia. Jakarta: PT. Raja Grafindo Persada.Hal 151
- Ulin, Priscilla R, Elizabeth T. Robinson, Elizabeth E. Tolley, Erin T. McNeill. (2002). Qualitative Methods; Applied Reseach in Sexual and Reproductive Health. Family Health International. North Carolina. USA. Hal V
- Varian, Hal R. (1993). Intermediate Microeconomics; A Modern Approach, W.W. New York. London: Norton Company. Hal 606
- Vogel, Frank E and Samuel L Hayes. (1998). Islamic Law and Finance. London : Kluwer Law International.
- Williamson, Oliver E. (2000). “The New Institutional Economics; Taking Stock, Looking Aheadâ€. Journal of Economic Literature, Vol. 38, September 2000. Hal 597
References
Agustianto. (2009). Evaluasi Bank Syariah 2008 dan Outlook 2009 (bagian 1).www. Pesantren Virtual.com diakses pada tanggal 28 juli 2009.
Agus. (2007). “Mudharabah dan Musyarakah Core Business Bank Syariahâ€. www.pkes.org/?page=info_list&id=51&PHPSESSID
Algoud, Latifa M and Mervyn K. Lewis. (2003). Perbankan Syariah; Prinsip Praktik Prospek, terjemahan, PT serambi Ilmu Semesta.
Anonymous. (2001). Info Bank no. 288/November 2001/vol XXIII
Anonymous. (2009). “Sekilas Perbankan Syariah di Indonesiaâ€. Diakses pada www.bi.go.id/web/id/Perbankan/Perbankan+Syariah
Bashir, Abdel Hameed M. (2000). “Limited Liability, Moral Hazard and Financial Constraints in Profit-Sharing Contractâ€. Prepared for the Fourth International Conference on Islamic Economic and Banking, August 13-15, 2000, Loughborough University, U. K.
Bech, Mickael. (2008). “Sales Managementâ€. www.sam.sdu.dk diakses tanggal 14 Februari 2008 jam 09.15. Hal 1
Beckert, Jens. (2003). “Economic Sociology and Embeddedness: How Shall We Conceptualize Economic Action?â€. Journal of Economic Issues, Vol. 37, 2003. Hal 1
Beckert, Jens. (2007). “The Social Order of Marketsâ€. MPIfG Discussion Paper 07 / 15 Max-Planck-Institut für Gesellschaftsforschung, Köln Max Planck Institute for the Study of Societies, Cologne. December 2007. Hal 5
Blumer, Herbert. (1969). Symbolic Interactionism. Perspective and Method. Prentice-Hall Inc. USA.
Chapra. M. Umer. (2001). Masa Depan Ilmu Ekonomi, Sebuah Tinjauan Islam. Jakarta: Gema Insani Press.
Charon, Joel M. (1979). Symbolic Interactionism: An Introduction, an Intepretation, an Integration. Upper Sadde River, NJ: Prentice – Hall. Hal 23
Chajewski, Leszek. (2008). “Theory in Economic Sociology. Institute for Political Studies, the Polish Academy of Sciencesâ€. http://www.collegium.edu.pl/chajewski/Chajewski2005a.pdf diakses pada tanggal 14 Februari 2008 pukul 12.02 wib. Hal 2
Dugger, William M. (1988). “A Research Agenda for Institutional Economicsâ€. Journal of Economics Isssues. Vol. XXII No. 4 Dec 1988. Hal 983
Elster, Jon. (1989). “Social Norms and Economic Theoryâ€. Journal of Economic Perspective. No. 3. Hal 99
Fukuyama. Francis. (2002).â€The Great Disruptionâ€. Hakikat Manusia dan Rekonstitusi Tatanan Sosial. Yogyakarta: CV. Qalam. Hal 278
Harvey, John T and Michael A. Katovick. (1992).†Symbolic Interactionism and Institutionalism: Common Rootsâ€, Journal of Economic Issues. Vol. XXVI No. 3 September 1992. Hal 800
Holmstrom. (1982). Holmstrom (1982:324, http://jleo.oxfordjournals.org)
Idat, D.G. (2001). Memberdayakan Sistem Bagi Hasi Bank Syariah Menjadi Win-Win Solution And Happy Bisnis. Pengembangan Perbankan September-Oktober No.91 2001.
Jensen, Michael C and William H. Meckling. (1976). “Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structureâ€. Journal of Financial Economics. Oktober, 1976, Volume 3. No. 4. Hal 308
Khalil, Abdel Fattah, Colin Rickwood and Victor Murinde. (2000). “.Agency Contractual Problems in Profit-Sharing (Mudarabah) Financing Practices by Interest-Free Banksâ€. Prepared for the Fourth International Conference on Islamic Economic and Banking, Loughborough University, U.K.
Karim, A.A.(2001). Ekonomi Islam Suatu Kajian Kontemporer. Gema Isani Press.Jakarta
Kherallah, Mylene and Johann Kirsten. (2001). The New Institutional Economics: Aplications for Agricultural Policy Research in Developing Countries. MSSD Discussion Paper No. 41.
Lin, Justin Y.(1999). An Economic Theory of Institutional Change. in Colin Barlow. Institutions and Economic Change in Southeas Asia. Edward Ellgar. Cheltenham, UK. Northampton, MA.USA. Hal 6
Mannan, Muhammad Abdul. (1993). Teori dan Praktek Ekonomi Islam. Yogyakarta: PT. Dana Bhakti Wakaf.
Mantzavinos, Chrysostomos. (2001). Individuals, Institutions, and Markets. Cambridge University Press. Hal 54
Miller, Nolan. (2005). Notes on the Principle-Agent Problem. http://www.people.fas.harvard.edu/~aeggers/patheory.pdf. diakses pada 19 Februari 2008, pukul 9.31 wib. Hal 1
Nicholson, Walter. (1990). Intermediate Microeconomics, The Dryden Press. Hal 430
Peukert, Helge. (2001). “Bridging Old and New Institutional Economics: Gustav Schmoller and Douglass C. North. Seen with Oldinstitutionalists’ Eyesâ€. European Journal of Law and Economics. March 2001. Hal 92, 93
Staveren, van Irene. (1999). “Chaos Theory and Institutional Economic: Metaphor or Model?â€. Journal of Economic Issues. Vol. XXXIII No. 1 March 1999. Hal 142
Siamat, Dahlan. (1993). Manajemen Bank Umum. Intermedia. Jakarta. Hal 212
Sumitro, Warkum. (2002). Asas Asas Perbankan Islam dan Lembaga Lembaga Terkait; BMI dan Takaful di Indonesia. Jakarta: PT. Raja Grafindo Persada.Hal 151
Ulin, Priscilla R, Elizabeth T. Robinson, Elizabeth E. Tolley, Erin T. McNeill. (2002). Qualitative Methods; Applied Reseach in Sexual and Reproductive Health. Family Health International. North Carolina. USA. Hal V
Varian, Hal R. (1993). Intermediate Microeconomics; A Modern Approach, W.W. New York. London: Norton Company. Hal 606
Vogel, Frank E and Samuel L Hayes. (1998). Islamic Law and Finance. London : Kluwer Law International.
Williamson, Oliver E. (2000). “The New Institutional Economics; Taking Stock, Looking Aheadâ€. Journal of Economic Literature, Vol. 38, September 2000. Hal 597