Yogyakarta, May 2, 2023 - The Islamic Financial Management Study Program held a Workshop on Statistical Data Processing with the theme of Primary and Secondary Data Analysis for Empirical Research in the Fields of Economics, Finance, and Business. The event invited Mr. Izra Berakon, M.Sc., CIPM, as a lecturer in the Islamic Financial Management Study Program, and Ms. Nor Nabilla Muhammad, M.Sc., as a lecturer in Sharia Banking Practicum and Statistics. The workshop was specifically held for students of the Islamic Financial Management Study Program of the 2020 batch as a preparation for their thesis. The workshop had two agendas: theory presentation and practice. It began with a prayer and a welcome speech from Dr. H. Mukhamad Yazid Afandi, M.Ag., the Head of the Islamic Financial Management Study Program.

The first agenda featured a theoretical presentation entitled “Multisteps Regression Analysis by Using Stata 17.” The speaker provided a comprehensive overview of the steps involved in regression analysis using Stata 17, covering the conceptual framework, analysis model, data tabulation, and additional aspects. Furthermore, the speaker shared personal experiences in working on a thesis and provided tips and recommended websites for finding financial report data of companies.

The second agenda, following the explanation of secondary data processing, introduced participants to the Structural Equation Modeling (SEM) method using the WarPLS 8.0 software. The SEM discussed was Variance Based or Partial Least Square (PLS), a non-parametric statistical analysis method that does not necessitate the fulfillment of specific assumptions such as data normality and the number of respondents. Moreover, there were two primary reasons for employing SEM analysis: first, it can simultaneously test complex research models (mediation and moderation effects), and second, it can measure a construct that cannot be directly measured or latent variable (unobserved variable). In SEM, there are two key assessments before hypothesis testing: assessment of the measurement model (validity and reliability of measurement tools) and assessment of the structural model (goodness of fit of the constructed research model).

Following the presentation, the students received step-by-step guidance in operating the software until they had a thorough understanding of the testing process. Additionally, to deepen the participants’ comprehension, the speakers assigned them tasks to process data using Stata 17 and WarpPLS 8.0, as outlined during the workshop. The students received direct guidance from the speakers. Therefore, it is expected that the Statistical Data Processing Workshop will adequately prepare the students in preparing their thesis and ensuring timely graduation.