Proceedings of the 1st International Conference on Mathematics and Mathematics Education (ICMMEd 2020)

Approach of Cobb Douglas Function Into Scheme of Ijarah Muntahiya Bittamlik (IMBT)

Authors
Rini Cahyandari, Asep Solih Awalluddin, Acep Hidayat
Corresponding Author
Rini Cahyandari
Available Online 11 May 2021.
DOI
10.2991/assehr.k.210508.091How to use a DOI?
Keywords
Ijarah Muntahiya Bittamlik, Ujroh, Cobb Douglas Function, Maximum Likelihood Estimation Method
Abstract

Ijarah Muntahiya Bittamlik (IMBT) is a scheme for the sale of goods or services that combines a sale and purchase contract and a lease agreement ending with the ownership of the goods or services that are the object of the contract in the hands of the tenant. In the IMBT scheme, the tenant makes payments for the compensation agreed in the contract to a sharia financing company (PPS) which is generally done every month and is called Ujroh. Thus, Ujroh is a compensation payment, which becomes monthly profit of the company. In this research, Ujroh calculation was conducted in 2019 for PT Adira Finance using approach of Cobb Douglas function, especially profit function. Financial data of PT Adira Finance since 2011 up to 2018 was taken secondary then analyzed using the maximum likelihood estimation method assisted with methods of Newton Raphson and Matlab software, so that obtained a model of profit function of Cobb Douglas will be used to calculate Ujroh for next year. It was obtained results that Ujroh scores for 2019 were not too far from Ujroh scores in previous years so it can be said that the Cobb Douglas functional approach in the IMBT scheme is quite good.

Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 1st International Conference on Mathematics and Mathematics Education (ICMMEd 2020)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
11 May 2021
ISBN
978-94-6239-378-3
ISSN
2352-5398
DOI
10.2991/assehr.k.210508.091How to use a DOI?
Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Rini Cahyandari
AU  - Asep Solih Awalluddin
AU  - Acep Hidayat
PY  - 2021
DA  - 2021/05/11
TI  - Approach of Cobb Douglas Function Into Scheme of Ijarah Muntahiya Bittamlik (IMBT)
BT  - Proceedings of the 1st International Conference on Mathematics and Mathematics Education (ICMMEd 2020)
PB  - Atlantis Press
SP  - 376
EP  - 378
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210508.091
DO  - 10.2991/assehr.k.210508.091
ID  - Cahyandari2021
ER  -