Shirkah: Journal of Economics and Business
https://shirkah.or.id/new-ojs/index.php/home
<!-- Identitas Jurnal Code --><h5>Shirkah: Journal of Economics and Business</h5><div class="row card-panel orange lighten-5 identitas"><div class="col s12 m4 l3"><img class="responsive-img z-depth-2" style="display: block; max-height: 250px; max-width: 150px; margin: 0 auto; margin-bottom: 25px;" src="/new-ojs/public/journals/1/journalThumbnail_en_US.jpg" alt="" /></div><div class="col s12 m8 l9"><table class="rajawalitable" style="border-collapse: collapse; width: 100%;"><tbody><tr><th>Journal title</th><td><span>Shirkah: Journal of Economics and Business</span></td></tr><tr><th>Initials</th><td>Shirkah</td></tr><tr><th>Abbreviation</th><td><span>Shirkah J. Econ. Bus.</span></td></tr><tr><th>Frequency</th><td>3 issues per year (April, August, and December)</td></tr><tr><th>DOI </th><td>prefix <a href="/new-ojs/index.php/home/index">10.225.15/shirkah</a> <a href="https://search.crossref.org/?q=2503-4243&from_ui=yes"><img src="http://ijain.org/public/site/images/apranolo/Crossref_Logo_Stacked_RGB_SMALL.png" alt="" height="14" /></a></td></tr><tr><th>ISSN</th><td><a href="http://issn.pdii.lipi.go.id/issn.cgi?daftar&1461036652&1&&">2503-4243</a><span> (online)</span>; <a href="http://issn.pdii.lipi.go.id/issn.cgi?daftar&1461031029&1&&">2503-4235</a><span> (print)</span></td></tr><tr><th>Editor-in-Chief</th><td><a href="https://www.scopus.com/authid/detail.uri?authorId=57195138635">Awan Kostrad Diharto</a> <a href="http://sinta2.ristekdikti.go.id/authors/detail?id=6030721&view=overview" target="_blank"><img src="/public/site/images/inzacky/sinta3.png" alt="" /></a> <a href="https://www.researchgate.net/profile/Nasrul_Fahmi_Zaki_Fuadi" target="_blank"><img src="/public/site/images/inzacky/rg.png" alt="" /></a></td></tr><tr><th>Citation Analysis</th><td><a href="/new-ojs/index.php/home/pages/view/Scopus%20Citedness">SCOPUS Citedness </a> I <a href="https://scholar.google.co.id/citations?user=dVWCaiAAAAAJ&hl=id">Google Scholar</a></td></tr></tbody></table></div></div><p><a href="/new-ojs/index.php/home/index"><strong>Shirkah: Journal of Economics and Business</strong></a> is a peer-reviewed journal published <strong>three times a year (April, August, and December)</strong> by <a href="https://febi.iain-surakarta.ac.id/">Faculty of Islamic Economics and Business</a> Institut Agama Islam Negeri Surakarta (Now UIN Raden Mas Said Surakarta) Central Java Indonesia in collaboration with <a href="http://www.iaei-pusat.org/">Indonesian Association of Islamic Economists</a> (see <a href="https://drive.google.com/file/d/1DV7xLFDqR8FK4GnVDMdIqlI7UQ1K0bp9/view?usp=sharing">the MoU manuscript</a>). The journal is intended to be a dissemination platform of articles reporting the results of scholarly inquiry on Islamic Economics and Business. The journal focuses its discussion on the areas of <em><strong>Islamic finance, Islamic philanthropy, Islamic economics thoughts, and Islamic marketing</strong></em><strong> </strong>(see <a href="/new-ojs/index.php/home/pages/view/Focus%20and%20Scope">Focus & Scope</a>).</p><p style="text-align: justify;">Since October 2018, <a href="/new-ojs/index.php/home/index"><strong>Shirkah: Journal of Economics and Business</strong></a> has been nationally <a href="https://sinta3.kemdikbud.go.id/journals/profile/79" target="_blank"><strong>accredited SINTA 2</strong> </a>by the Ministry of Research, Technology, and Higher Education as a scientific journal with good quality of published content and excellent management, and it has been reaccredited in December 2020 through the decree Number 200/M/KPT/2020 (<a href="https://drive.google.com/file/d/1vyAHDKVqwUO3ARXDyWG_U6Xrj-aUu66K/view?usp=share_link" target="_blank">see the certificate</a>), active until Volume 10 No. 1 2025. 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href="https://doaj.org/toc/2503-4243?source=%7B%22query%22%3A%7B%22bool%22%3A%7B%22must%22%3A%5B%7B%22terms%22%3A%7B%22index.issn.exact%22%3A%5B%222503-4235%22%2C%222503-4243%22%5D%7D%7D%5D%7D%7D%2C%22size%22%3A100%2C%22sort%22%3A%5B%7B%22created_date%22%3A%7B%22order%22%3A%22desc%22%7D%7D%5D%2C%22_source%22%3A%7B%7D%2C%22track_total_hits%22%3Atrue%7D" target="""><img src="http://ijain.org/files/worldcat.png" alt="" width="150px" height="60px" /><img src="/new-ojs/public/site/images/arifnugroho/doaj_logo.png" alt="" /></a></p>IAIN Surakartaen-USShirkah: Journal of Economics and Business2503-4235<p><strong><span style="font-size: xx-large;"><span style="font-size: x-large;">Copyright</span></span></strong></p><p><span style="font-size: medium;">Copyright aims to protect the specific way the article has been written to describe an experiment and the results. Shirkah: Journal of Economics and Business is committed to its authors to protect and defend their work and their reputation and takes allegations of infringement, plagiarism, ethical disputes, and fraud very seriously. Automotive Experiences is published under the terms of the <a href="https://creativecommons.org/licenses/by-nc/4.0/">Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)</a>. Authors retain copyright and grant the journal right of first publication (online and print) with the work simultaneously. We use the restrictive license (non-commercial) as follows:</span></p><div><span style="font-size: medium;"><strong><img src="http://journal.ummgl.ac.id/public/site/images/autoexp/BY1.png" alt="" width="43" height="59" align="left" />BY</strong> (attribution): Users are allowed to share, distribute and redistribute the published article in any medium or format, with an identification of the authors and its initial publication in this journal. 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Authors grant Shirkah: Journal of Economics and Business explicit the right to include the published articles in databases, repositories and indexation services. </span></div><p><strong><span style="font-size: xx-large;"><strong><span style="font-size: xx-large;"><span style="font-size: x-large;">License</span></span></strong></span></strong></p><p><span style="font-size: large;"><strong><strong>License to Publish</strong></strong></span></p><p><span style="font-size: medium;">The non-commercial use of the article will be governed by the <a href="https://creativecommons.org/licenses/by-nc/4.0/">Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)</a>. 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Users must give appropriate credit, provide a link to the license, and indicate if changes were made.</span></p><p><span style="font-size: large;"><strong><strong>Rights of Authors</strong></strong></span></p><p><span style="font-size: medium;">Authors retain the following rights:</span></p><ol><li><span style="font-size: medium;">Copyright, and other proprietary rights relating to the article, such as patent rights,</span></li><li><span style="font-size: medium;">The right to use the substance of the article in future own works, including lectures and books,</span></li><li><span style="font-size: medium;">The right to reproduce the article for own purposes, provided the copies are not offered for sale, and</span></li><li><span style="font-size: medium;">The right to self-archive the article.</span></li></ol><p><span style="font-size: large;"><strong><strong>Co-Authorship</strong></strong></span></p><p><span style="font-size: medium;">If the article was prepared jointly with other authors, the signatory of this form warrants that he/she has been authorized by all co-authors to sign this agreement on their behalf, and agrees to inform his/her co-authors of the terms of this agreement.</span></p><p><span style="font-size: large;"><strong><strong>Royalties</strong></strong></span></p><p><span style="font-size: medium;">This agreement entitles the author to no royalties or other fees. To such extent as legally permissible, the author waives his or her right to collect royalties relative to the article in respect of any use of the article by Shirkah: Journal of Economics and Business or its sublicensee.</span></p><p><strong><span style="font-size: xx-large;"><strong><span style="font-size: xx-large;"><span style="font-size: x-large;"><span style="font-size: large;">Miscellaneous</span></span></span></strong></span></strong></p><p><strong></strong><span style="font-size: xx-large;"><span style="font-size: xx-large;"><span style="font-size: x-large;"><span style="font-size: medium;">Shirkah: Journal of Economics and Business will publish the article (or have it published) in the Journal if the article’s editorial process is successfully completed and Shirkah: Journal of Economics and Business or its sublicensee has become obligated to have the article published. <span style="font-size: xx-large;"><span style="font-size: xx-large;"><span style="font-size: x-large;"><span style="font-size: medium;">Shirkah: Journal of Economics and Business</span></span></span></span> may conform the article to a style of punctuation, spelling, capitalization, and usage that it deems appropriate.</span></span></span></span><strong><span style="font-size: xx-large;"><strong><span style="font-size: xx-large;"><span style="font-size: x-large;"><br /></span></span></strong></span></strong></p>The Effect of Debt-to-Equity Ratio, Return on Asset, Current Ratio, and Total Asset Turnover on Stock Price: The Intervening Effect of Intrinsic Value in Indonesia’s Retail Business
https://shirkah.or.id/new-ojs/index.php/home/article/view/630
<p>This study examines the effect of Debt-to-Equity Ratio (DER), return on assets (ROA), current ratio (CR), and total asset turnover (TATO) on stock prices with their Intrinsic Value as intervening variables in retail companies in Indonesia. Data regarding retail companies were obtained from the Indonesia Stock Exchange, and secondary data on these companies' financial ratios were collected from Stockbit. Stock price data were sourced from Yahoo Finance, and the intrinsic value of shares was determined using the price-to-earning ratio method. Drawing on structural equation modeling, the findings demonstrate that DER and ROA exert a positive and statistically significant effect on intrinsic value. TATO, on the other hand, exhibits a negative and statistically significant effect on intrinsic value, while CR demonstrates a negative and non-significant effect. Regarding stock prices, DER and CR have a negative and statistically significant effect, while ROA and Intrinsic Value have a positive and statistically significant effect. TATO, however, shows a negative and non-significant effect on stock prices. Furthermore, DER has a positive and non-significant effect on stock prices through intrinsic value, whereas ROA has a positive and statistically significant effect on stock prices through intrinsic value. CR, on the other hand, exhibits a negative and non-significant effect on stock prices through intrinsic value, and TATO demonstrates a negative and statistically significant effect on stock prices through intrinsic value.</p>Andini NurwulandariRirian Safiadi Wahid
Copyright (c) 2024 Andini Nurwulandari
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2023-09-062023-09-069111610.22515/shirkah.v9i1.630A Legal Perspective on the Antecedents of Consumer Protection in Digital Financial Services
https://shirkah.or.id/new-ojs/index.php/home/article/view/667
<p>This research delves into the factors influencing consumer protection within the context of digital financial services, with a focus on the regulatory landscape, technology integration, consumer awareness, and data privacy. The primary objective is to analyze the impact of these factors on the improvement of consumer rights and safety. A quantitative approach was employed, utilizing data collected through surveys of digital financial service users. Confirmatory factor analysis was used to validate the measurement model, followed by structural equation modelling to test the hypotheses. The results demonstrate the significant and positive impact of the regulatory landscape, technology integration, consumer awareness, and data privacy on consumer protection. This study theoretically contributes by empirically confirming the role of these factors in consumer protection in digital financial services. From a practical standpoint, it underscores the importance of robust regulations, seamless technology integration, and effective consumer awareness initiatives in upholding consumer rights and safety. However, it is important to acknowledge certain limitations within this study. Its context-specific nature may restrict its generalizability to other regions, and the analysis primarily focuses on antecedent factors while neglecting potential influences from other variables. Nevertheless, this study's novelty lies in its comprehensive exploration of the foundational factors and their profound impact on consumer protection in the digital financial services landscape, furnishing valuable insights for informed policymaking and industry practices.</p>Novea Elysa Wardhani
Copyright (c) 2023 Novea Elysa Wardhani
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2023-10-222023-10-2291173210.22515/shirkah.v9i1.667Strategic Performance Dynamics: Elucidating the Effect of Competitive and Growth Strategies on Companies
https://shirkah.or.id/new-ojs/index.php/home/article/view/664
<p>There was a dearth of empirical information and thorough understanding into how these strategies interacted and affected the performance of companies in the setting of Lampung Province before this research. Thus, this research investigates the effect of competitive and growth strategies on the strategic performance of companies registered with the Lampung Province Department of Industry and Trade. Utilizing a quantitative approach and statistical analysis of data from 396 survey respondents representing businesses across 15 cities and regencies in Lampung Province, the study employs the Partial Least Square (PLS) Structural Equation Modeling (SEM) method with SmartPLS software to analyze the data. The results indicate that competitive strategy significantly affects the strategic performance of companies. Additionally, growth strategy also significantly contributes to improved strategic performance, highlighting the importance of selecting the right growth strategies for companies. Simultaneously, both competitive and growth strategies exert a significant effect on the strategic performance of companies. These insights provide valuable guidance for businesses and regulatory authorities in Lampung Province's industrial and trade sectors, aiding them in designing more effective strategies to enhance company performance, considering both competitive and growth strategies.</p>Armalia Reny W.A.
Copyright (c) 2023 Armalya Reni W.A.
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2023-10-222023-10-2291334810.22515/shirkah.v9i1.664A Decade of Research on Intellectual Capital in Indonesia: Systematic Literature Review
https://shirkah.or.id/new-ojs/index.php/home/article/view/643
<span lang="EN-US">The present study aims to scrutinize empirical evidence related to the study of intellectual capital in Indonesia. The study conducts an analysis of 60 articles from Scopus-indexed and SINTA-indexed journals over the observational period spanning from 2012 to 2023. The methodology employed in this study is the charting field method. Notably, the findings reveal that financial performance serves as the predominant metric in the exploration of intellectual capital in Indonesia over the course of a decade. Nevertheless, our mapping results unveil a critical gap in the research landscape, specifically, the inconsistency in the relationship between intellectual capital and financial performance proxies such as Return on Assets (ROA), Return on Equity (ROE), Price-to-Book Value (PBV), and Debt-to-Equity Ratio (DER). It is our aspiration that future research concerning the subject of intellectual capital will extend their scope to non-financial performance dimensions and incorporate qualitative data analysis, surveys, interviews, or the incorporation of Environmental, Social, and Governance (ESG) indicators within the context of intellectual capital exploration in Indonesia.</span>Yuliana KumalasariY. Anni Aryani
Copyright (c) 2023 yulia ana kumalasari
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2023-11-132023-11-1391497310.22515/shirkah.v9i1.643The Influence of Tourism Industry and Tourism Supply Chain on Tourism Performance
https://shirkah.or.id/new-ojs/index.php/home/article/view/668
<p>This study explores the influence of stakeholders in the tourism industry in improving the tourism supply chain and tourism performance. This research employs a quantitative method to explore the pivotal role of stakeholders in Central Kalimantan's tourism industry, encompassing academicians and tourism industry professionals. Utilizing a structured questionnaire, 117 participants were selected through proportional stratified sampling. Data analysis employed a structural equation model (SEM). The study's results reveal a statistically significant and positive influence of stakeholders on both the tourism supply chain and tourism performance. Furthermore, it highlights the reciprocal influence of tourism supply chains on tourism performance. This research offers valuable insights for future investigations and informs strategies to boost Indonesia's tourism sector.</p>Sri Mulyani
Copyright (c) 2023 Sri Mulyani
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2023-11-262023-11-2691748910.22515/shirkah.v9i1.668The Role of Trust and Engagement in Organizational Citizenship Behavior of Chemical Manufacturing Industry in Indonesia
https://shirkah.or.id/new-ojs/index.php/home/article/view/672
<p>Although research on the relationship between trust and engagement with organizational citizenship behavior (OCB) has been extensively explored, the connection between these variables in the context of the chemical industry remains underexplored. The aim of this study is to examine the influence of trust on OCB, the impact of engagement on OCB, and the combined effects of trust and engagement on OCB in the Chemical Manufacturing Sector in Indonesia. This research employs a quantitative associative approach. The sample comprises 249 employees from manufacturing companies in the city of Cilegon, Indonesia, selected through proportional stratified random sampling techniques. The data analysis technique employed is multiple linear regression analysis using SPSS version 26. The findings of this study reveal that trust has a significant positive influence on OCB, engagement has a significant positive impact on OCB, and both trust and engagement collectively exert a significant positive influence on OCB in the Chemical Manufacturing Sector in Indonesia. The results of this research contribute to providing insights for chemical manufacturing companies in Indonesia to enhance the quality of their employees in achieving OCB principles.</p>Uli Wildan NuryantoIka Pratiwi
Copyright (c) 2024 Uli Wildan Nuryanto
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2024-01-242024-01-24919010210.22515/shirkah.v9i1.672Traditional vs Modern Groceries from Islamic Perspective in Indonesia
https://shirkah.or.id/new-ojs/index.php/home/article/view/575
<p>Despite extensive research on the competition between modern and traditional retailers, there is a lack of investigation into specific factors that influence consumer choices and directly impact sales revenue. There is a scarcity of research exploring these issues from the perspective of Islamic business. To address this gap, the study aims to examine consumer preferences in purchasing decision at Traditional and Modern groceries. This study employed a quantitative approach by distributing questionnaire to 100 customers in Palu city, Indonesia. Data analysis involved path analysis and bootstrap biased correlation. The findings highlight the significant impact of product variants, pricing strategies, and promotional efforts by modern retailers on sales revenue in traditional retail stores through purchasing decisions. However, shopping convenience did not exhibit a significant influence, indicating the need for improvement. The competition between traditional and modern retail is primarily driven by shifting consumer behavior and relatively weaker marketing strategies employed by traditional retailers. This study suggests that to maintain their market position, traditional retailers should enhance their marketing strategies by expanding product offerings, setting competitive prices, and executing effective promotional campaigns. Prioritizing the improvement of shopping convenience is crucial to meet customer expectations and preferences.</p>Sofyan BachmidMokh Ulil HidayatNoval Noval
Copyright (c) 2024 Sofyan Bachmid, Mokh Ulil Hidayat, Noval Noval
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2024-01-262024-01-269110312110.22515/shirkah.v9i1.575