2026-04-05T03:37:21Z https://shirkah.or.id/new-ojs/index.php/home/oai

oai:ojs.pkp.sfu.ca:article/283 2020-12-28T01:55:55Z home:ART driver

Indonesian Islamic Commercial Banks’ Efficiency: A Stochastic Frontier Analysis Rusmita, Sylva Alif Putri, Devy Ariesta Financial Costs Financial Profits Islamic Banks Efficiency Stochastic Frontier Analysis Islamic banks in Indonesia are continuously experiencing a rapid growth; thus, it results in a competitive financial sector. Consequently, maintaining an excellent performance is a prerequisite to gain customers’ trust and loyalty, one of the ways is enhancing productivity and efficiency performance. Drawing on this issue, the present study aims to examine the efficiency of Islamic banks listed in the Financial Services Authority (OJK) in the period of 2015 to 2019. Employing Stochastic Frontier Analysis (SFA) as a parametric approach, this study measured the efficiency level of cost and profit efficiency of the Indonesian Islamic commercial banks. The data were a cross-section and panel data obtained from financial reports established by seven Indonesian Islamic commercial banks. The result of frontier analysis on the efficiency costs showed that the value of sharia banks’ average efficiency in Indonesia was approximately 93.41%, while the efficiency of profit resulted in 55.35%. These results suggest that Islamic banks tend to be efficient in controlling costs from the year of 2015 to 2019. It is a worth saying that this study’s results contribute to providing fruitful insights for Islamic banks to increase their efficiency by controlling their cost of production such as the cost of funds and cost of operation. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/283 10.22515/shirkah.v5i3.283 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 386-410 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/283/100 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/306 2020-12-28T02:04:54Z home:ART driver

Antecendents and Consequences of Trancedental Knowledge Sharing to Improve Work Performance Arifin, M. Rahmawan Transcendental Knowledge Sharing Affective Commitments Transformational Leadership Organizational Citizenship Behavior Performance. This study was undertaken in an attempt to build a theoretical model through an in-depth study on the effect of transcendental knowledge sharing on the budget implementation performance as well as novelty in answering the gap between affective commitments on employee performance, especially the finance staff at the State Islamic Religious College (PTKIN). IAIN Surakarta has encountered rapid academics and financial governance development in the last 4 years. As a non-BLU (non-public service agency) college with the largest number of students and PNBP (non-tax state revenues) in Indonesia, IAIN Surakarta requires a strategy in improving employee performance, especially the finance staff. This study uses a non-probability purposive sampling. The questionnaire was distributed to 230 respondents consisting of leaders, structural officials, finance staff, lecturers receiving research assistance, and administrators of the student activity unit (UKM). By using the Structural Equation Model (SEM) method, data and hypotheses are analyzed using AMOS 21.0 software. The results of the study highlighted that transcendental knowledge sharing has a significant effect on the performance of finance staff. Transformational leadership, Organizational Citizenship Behavior (OCB) and affective commitments with transcendental knowledge sharing mediation significantly affect the budget implementation performance. The implication of the research is to strengthen the financial policies at IAIN Surakarta and professional governance to improve the budget implementation performance. Universitas Islam Negeri Raden Mas Said Surakarta 2020-05-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/306 10.22515/shirkah.v5i1.306 Shirkah: Journal of Economics and Business; Vol. 5 No. 1 (2020); 125-145 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/306/87 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/333 2021-07-13T16:52:22Z home:ART driver

Proposing Blue Sukuk in Indonesia: An Interpretive Structural Model Rusydiana, Aam Slamet Irfany, Mohammad Iqbal Blue Sukuk Interpretive Structural Model Sovereign Sukuk This research aims to identify the priority factors that being barriers to issue and develop Islamic blue sukuk in Indonesia. Employing the Interpretive Structural Modeling (ISM) method, it also offers several solutions for the identified problems. As an advanced planning methodology, ISM is used to identify, analyze, and summarize various relationships among factors that define a problem, model, or issue. In the ISM framework, there are three criteria of blue sukuk development in Indonesia including (1) aspect or foundation required within the framework of developing blue sukuk; (2) infrastructure that will be used as a basis for sukuk issuance (underlying projects); and (3) stakeholders involved in the development of blue sukuk in Indonesia. Results show that important foundations needed in the development of blue sukuk are regulatory aspects, feasible underlying projects, investors, and inter-institutional coordination, respectively. Finally, possible underlying infrastructures for the issuance of Blue Sukuk are the development of integrated fishing villages as well as the procurement of large and environmentally friendly fishing boats. Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-15 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/333 10.22515/shirkah.v6i1.333 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 101-114 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/333/114 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/335 2020-12-28T01:55:55Z home:ART driver

Institutional Quality and Sukuk Development: A Study of Five OIC Countries Basyariah, Nuhbatul Kusuma, Hadri Qizam, Ibnu Institutional Quality Islamic Financial Development Sukuk Development Worldwide Governance Indicators The objective of this study is to shed some light on the effect of institutional quality on the development of the global sukuk market. Specifically, this study examines the impacts of the institutional quality that adopts three dimensions of the Worldwide Governance Indicators (WGI), i.e., Rule of Law (RL), Regulatory Quality (RQ), and Government effectiveness (GE) on the global sukuk development of the top-five countries of sukuk issuance, i.e., Malaysia, Kingdom of Saudi Arabia, United Arab Emirates, Indonesia, and Bahrain. Drawing on a quantitative study with the data in the forms of global sukuk issuance from 2002 to 2017, panel-data regression (OLS) and General Method of Moment (GMM) were applied. This study showed that RL and GE have a significantly positive effect on sukuk issuance; however, RQ did not influence the development of the global sukuk market. These results imply that a country that is capable to maintain the institutional quality, especially in terms of rule of law and government effectiveness, will most likely be the country that can successfully develop the sukuk market. These results play a crucial role in filling a research gap among previous studies and provide an empirical evidence of the government’s role and its influence on the sukuk development. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/335 10.22515/shirkah.v5i3.335 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 286-309 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/335/96 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/336 2020-12-28T15:42:22Z home:ART driver

Islamic Social Reporting Disclosure of Sharia Commercial Banks in Indonesia: A Form of Social Responsibility Riduwan, Riduwan Mutmainah, Lu’liyatul Wahyudi, Rofiul Corporate Social Responsibility Islamic Social Reporting Disclosure Sharia Commercial Banks Sharia industry development encourages experts to design Corporate Social Responsibility (CSR) disclosure index that is more compatible with the characteristics of sharia-based corporate. However, studies examining CSR disclosure using Islamic Social Reporting (ISR) index that focuses on detailed results of content analysis from time to time still remains a paucity of evidence. Hence, this study aims to examine the practice of Islamic Social Reporting disclosure of sharia commercial banks in Indonesia. Drawing on the data obtained from CSR reports established by sharia banks in Indonesia, the results of content analysis disclosed that the ISR disclosure showed a fluctuating trend. It was also revealed that the six themes of ISR index have not been optimally disclosed. ISR disclosures of sharia banks in Indonesia were categorized as good since the average disclosure reached 50% in 2015 up to 2017, especially the corporate governance disclosure. This study’s results imply that it is necessary to increase the disclosures that can be strengthened by regulations from financial regulators and Islamic banking associations to increase public trust and value-added of sharia commercial banks. This study contributes to the development of sharia banks as fruitful insights on policy recommendations for Islamic banks' top management. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/336 10.22515/shirkah.v5i3.336 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 337-361 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/336/98 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/337 2020-12-28T01:55:55Z home:ART driver

Performance of GoFood MSEs Partnership: An Integration of Entrepreneurial Orientation, Marketing Capabilities, and Brand Orientation Prastiwi, Septi Kurnia Rohimat, Asep Maulana Brand Orientation Entrepreneurial Orientation Marketing Capability MSEs Performance The current application of Gojek with its GoFood feature can serve the function as promotion media to consumers at the maximum extent for the Micro and Small Enterprises (MSEs) in the culinary business. Nevertheless, not all have been able to experience the improvement of this business performance in terms of the new application feature. Therefore, this study aims at investigating and analyzing the role of entrepreneurial orientation, marketing capability, and brand orientation to improve the performance of GoFood partnering SMEs. There were 112 samples of business partners in Surakarta participated in this study. The data analysis technique was by SEM using the application of AMOS 2.4. The research findings provide a conclusion that there is a significant effect of entrepreneurial orientation on marketing capabilities, brand orientation, and business performance. However, marketing capability and brand orientation were not proven to improve business performance; similarly, the mediation of entrepreneurial orientation through marketing capability and brand orientation was not supportive of business performance development. This study provides an actual contribution to the performance improvement of MSEs entrepreneurs through the digital application as an innovation and creativity of business players. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/337 10.22515/shirkah.v5i3.337 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 310-336 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/337/97 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/341 2021-12-08T23:08:45Z home:ART driver

Acceleration of Islamic Bank Financing in Indonesian Agriculture Sector Mubarok, Faizul Agriculture Sector Exchange Rates Inflation Interest Rates Islamic Banking Financing Economic instability is a challenge for Islamic banks in channeling financing to various sectors including agriculture. This study aims to shed some light on the influence of economic indicators and the financing response to agriculture sector using monthly data from 2006 to 2020, including data from agriculture sector financing, interest rates, inflation, exchange rates, Islamic stock index, and composite stock index. This study employed Vector Error Correction Model (VECM) method. The results revealed that only interest rates and inflation affected Islamic bank financing in the short and long term period. Islamic bank financing in the agriculture sector reached the fastest stability when responding to exchange rate shocks. The results further showed that interest rates mostly influenced the level of diversity in Islamic bank financing in the agriculture sector. The results suggest that stakeholders need to play a crucial role in stabilizing economic turmoil to accelerate Islamic bank financing particularly in agriculture sector. Universitas Islam Negeri Raden Mas Said Surakarta 2021-07-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/341 10.22515/shirkah.v6i2.341 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 185-204 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/341/118 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/343 2021-07-13T16:52:22Z home:ART driver

Responsibility and Accountability of University Social and Environmental Performances: A Sustainability Balanced Scorecard Model Pertiwi, Imanda Firmantyas Putri Puspita, Rosana Eri Saifudin, Saifudin Responsibility and Accountability Social and Environmental Performances Sustainability Balanced Scorecard Since research on the use of sustainability balanced scorecard to assess university social and environmental performances still remains unexplored, this study aims to fill the gap by examining the acceptance of the idea of the State Islamic Religious Colleges (PTKIN) performances in terms of responsibility for social and environmental aspects based on the sustainability balanced scorecard model. Drawing on a qualitative research, eight respondents from the Board of National Accreditation for Higher Education (BAN-PT) and PTKIN policymakers were interviewed. The results indicated that PTKIN must pay more attention to social and environmental perspectives. It was further revealed that although BAN-PT regulation has explicitly included these two perspectives, there were several indicators that still need to be added according to the sustainability balanced scorecard model. Moreover, the results depicted several challenges such as budgeting, regulations, and paradigms that required some adjustment from the policymakers. These results contribute as fruitful insights for university policymakers in developing strategies to enhance university performances, particularly in social and environmental aspects. Universitas Islam Negeri Raden Mas Said Surakarta 2021-03-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/343 10.22515/shirkah.v6i1.343 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 1-17 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/343/108 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/345 2020-12-29T16:44:04Z home:ART driver

Islamic Economics Development in Indonesia: Reflection on Contemporary Thoughts of Muslim Intellectuals Abidin, Zainal Islamic Economic Thoughts Islamic Economics Development Contemporary Muslim Intellectuals This study aims to establish the record of accomplishment of the strong hallmark of Islamic economic thought and its contribution to economic development. The ideas rooted from the Muslim intellectuals in Indonesia, the scholars of the State Islamic Religious Colleges (PTKIN) as institutions mandated in developing Islamic economics and human resources, were discussed to outline the multifaceted phenomenon of Islamic economic development. This study scrutinizes ideas conveyed in internationally reputed, Sinta 1-indexed, Web of Science-indexed, or Scopus-indexed journals. This study outlined a qualitative approach in the form of library research using content analysis. This study disclosed that Indonesian Muslim intellectuals brought to light the issue of zakah excessing other themes in the Islamic economy as the solution to perennial problems of the social, political, and cultural conditions of Indonesian society. The results of this study contribute to the views of Islamic economic concept and practice as insights and references of its continuous development in Indonesia. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/345 10.22515/shirkah.v5i3.345 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 411-435 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/345/101 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/348 2020-12-28T01:55:55Z home:ART driver

Concentration and Specialization of Economic Activities in the Kingdom of Saudi Arabia Abdelkader, Salim Bourchid M'hamed, Hamidouche Zian, Abderrazak Ahmed Concentration Economic Activities Specialization This study presents several indicators for understanding the structure of economic activities in terms of concentration and specialization in the Kingdom of Saudi Arabia. Subsequently, the theoretical description of the different notions of concentration and specialization relating to geographical or sectors aspect is applied to understand the equality in the distribution of wages and employment levels across the country. Thus, the authors have estimated the most important indexes used in a large part of the academic literature and which are most representative of concentration and distribution, such as the Gini, Herfindahl, Theil, Aigiur, and Krugman indexes for the Kingdom of Saudi Arabia during the year of 2017. The sample used in this study consists of four different kinds of firms (very small, small, medium, and large) of twelve sectors of activities and the wages perceived by employees in thirteen administrative areas in the Kingdom of Saudi Arabia. The data are in the forms of annual reports in the year of 2017 obtained from the General Authority for Statistics of Saudi Arabia. The results obtained certainly facilitate the comprehension of the type of income distribution to the active population by sectors and by administrative areas. As for the implication, this study’s results contribute to enrich statistical data and bring added-value to the knowledge that eventually leads to understanding socioeconomic context of the country. Universitas Islam Negeri Raden Mas Said Surakarta 2020-12-28 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/348 10.22515/shirkah.v5i3.348 Shirkah: Journal of Economics and Business; Vol. 5 No. 3 (2020); 362-385 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/348/99 Copyright (c) 2020 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/350 2025-03-04T06:39:42Z home:ART

oai:ojs.pkp.sfu.ca:article/353 2021-12-31T10:49:54Z home:ART driver

Global Value Chain: Islamic Economics and Finance Position Pimada, Laila Masruro Global Islamic Economy Halal Industry Value Chain Islamic Economics Islamic Finance The growing number of Muslim populations promotes significant development on Islamic economic and finance activities called halal industry. While the halal industry is experiencing positive growth in the last four years, the Global Value Chain (GVC) – the chain of system that drives international trades and global economic activities – remains stagnant. The present study aims to explain the position of the Islamic economics and finance in the GVC. This study employs a qualitative-descriptive method with systematic literature review approach. By collecting secondary data using strict-processing stages and content analysis techniques, the author manages to meet the study’s purpose. The findings suggest that the Islamic economics and finance have opportunities to boost countries' participation in the GVC activities by harmonizing halal standardization, enhancing financial infrastructures, and providing various financial products. This study contributes to generate government policies and enterprises' decisions in developing the Islamic economics and finance within the GVC framework. It further provides initial insights and potential topics for future studies. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/353 10.22515/shirkah.v6i3.353 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 397-314 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/353/126 Copyright (c) 2021 Laila Masruro Pimada

oai:ojs.pkp.sfu.ca:article/363 2022-08-17T04:30:02Z home:ART driver

Determinants of Dysfunctional Audit Behavior in the Public Accounting Firms Mardi, Mardi Sarka, Susi Indriani Kardoyo, Kardoyo Dysfunctional Audit Behavior Organizational Commitment Professional Commitment Turnover Intention This study is an empirical examination of the determinants of dysfunctional audit behavior based on professional commitment and organizational commitment, as well as the turnover intention in a public accounting firm. Data were obtained from 100 auditors who have been registered as members of the Indonesian Institute of Certified Public Accountants (IICPA) with a minimum period of active duty of one year using online questionnaires. Data were analyzed using the Structural Equation Modelling with LISREL. This study concludes that organizational commitment and professional commitment have a negative effect on dysfunctional audit behavior and turnover intention. Commitment is crucial to avoiding dysfunctional audit behavior since persons who are committed are less likely to engage in such behavior. Conversely, the more the turnover intention, the higher the risk of dysfunctional audit behavior. Thus, it is suggested that auditors have emotional relationships, economic values, religious morals, and ethical attitudes when performing their duties as public accountants. Universitas Islam Negeri Raden Mas Said Surakarta 2022-04-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/363 10.22515/shirkah.v7i1.363 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 33-48 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/363/133 Copyright (c) 2022 Authors

oai:ojs.pkp.sfu.ca:article/374 2021-07-13T16:52:22Z home:ART driver

Oman’s Islamic Banking Performance amidst Covid-19 Outbreak: Prospects and Challenges Mihajat, Muhammad Iman Sastra Banking Performance Covid-19 Outbreak Islamic Banking Entities (IBEs) Islamic Banks’ Prospects and Challenges Covid-19 pandemic forced Islamic banking in Oman to slow down and to change strategies adapting to the current situation. The Covid-19 outbreak has raised various challenges for Islamic banking. In order to maintain the sustainable growth of the industry, stakeholders of Islamic banking should strive collectively to solve these challenges. Nevertheless, Islamic banking was able to maintain and manage capital and liquidity buffers. The growth for 2021 is expected to remain stable for at least a single-digit growth. However, there would be asset-quality and profitability pressure for Islamic banks within the Sultanate of Oman. This paper highlights the performance of Islamic banking in Oman amid the Covid-19 outbreak. This paper demonstrates that the industry merely recorded a single-digit growth compared to the last seven years at double-digit growth due to the pandemic. The paper further delineates on the prospects and challenges of Islamic Banks Entities (IBEs). It also suggests some practical solutions for survival. This paper contributes to providing an alluded picture of the current conditions and situation of Islamic banks in Oman as well as insights to deal with the challenges to enhancing the banking performances during the Covid-19 outbreak.  Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-03 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/374 10.22515/shirkah.v6i1.374 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 38-51 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/374/110 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/378 2021-07-13T16:52:22Z home:ART driver

The Contribution of Profit-sharing Characteristics to the Performance of Islamic Banks Hanafi, Syafiq Mahmadah Islamic Commercial Banks’ Performances Mudaraba Funding Musharaka Financing Sharia Banks’ Characteristics Islamic commercial banks are highly identic with the profit-sharing as a sharia banking basic operational system. The profit-sharing becomes a specific characteristic of sharia banks as well as a distinction from conventional banks. Hence, this study aims to examine if the profit-sharing characteristic contributes to the performances of Islamic commercial banks in Indonesia. This study employed time series data derived from the Financial Service Authority (OJK) using regression-mixed test and auto-regressive heteroscedasticity (ARCH). The results pointed out that the profit-sharing system for the lending of Musharaka had an impact on the performance of sharia banks; while the profit-sharing for the funding of Mudaraba did not support the hypothesis with negative coefficient. The results suggest that the profit-sharing characteristic provides contribution to the performance of Islamic commercial banks through the lending of Musharaka. These results further indicate that the profit-sharing characteristic performed by Islamic commercial banks is proven to be effective in improving their performances. This study’s results have an implication for Islamic commercial banks to strengthen their profit-sharing characteristics and improve the public trust toward sharia banking system. Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-04 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/378 10.22515/shirkah.v6i1.378 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 52-65 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/378/111 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/379 2021-12-31T10:49:54Z home:ART driver

Stress and Job Performance of Healthcare Workers amidst COVID-19 Pandemic: The Mediating Role of Burnout Agustina, Tri Siwi Rarastanti, Putri Dian Hidayat, Arif Fatah Burnout COVID-19 Pandemic Healthcare Workers Job Performance Stress Healthcare workers in hospitals are one of the frontliners in handling the COVID-19 issue. However, previous studies were mostly directed on doctors and nurses, albeit many other workers are involved in managing the COVID-19 issue at a hospital. Physical and mental work pressures in performing their jobs and responsibilities potentially affect their performance. This study aims to shed some light on the direct influence of job stress on the job performance of healthcare workers during the COVID-19 pandemic with burnout as a mediating variable. This study make use of a cross-sectional approach by employing a questionnaire to gather the data from 194 healthcare workers at Aisyiyah Ponorogo General Hospital Indonesia. Drawing on the Structural Equation Modeling Partial Least Square, the results reveal that (1) job stress has a negative influence on the job performance of the healthcare workers, (2) job stress is proven to have a positive effect on the burnout of the healthcare workers, and (3) burnout is found to partially mediate the effect of job stress on the job performance of the healthcare workers. By referring to the compelling results, valuable suggestions are offered to the hospital managers and further related studies. This study’s results further contribute to providing recommendations for the hospital management as well as the government concerning on factors affecting the healthcare workers’ job performance, especially at the age of a crisis such as the COVID-19 pandemic. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/379 10.22515/shirkah.v6i3.379 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 315-335 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/379/127 Copyright (c) 2021 Tri Siwi Agustina, Putri Dian Rarastanti, Arif Fatah Hidayat

oai:ojs.pkp.sfu.ca:article/383 2021-07-13T16:52:22Z home:ART driver

Revisiting the Contribution of Islamic Banks’ Financing to Economic Growth: The Indonesian Experience Supriani, Indri Fianto, Bayu Arie Fauziah, Najim Nur Maulayati, Ryan Rahmah Economic Growth Indonesian Economic Experience Islamic Banking Profit and Loss Sharing The contribution of Islamic banking towards economic growth remains debatable amongst academicians and practitioners. This study investigates the relationship between Islamic banks’ financing and economic growth in Indonesia which is the largest Muslim population country. This study adopts Autoregressive-Distributed Lag (ARDL) and utilizes time-series quarterly data from 2011Q1 to 2019Q3. The study uses four predictors: financing to deposit ratio, gross capital fixed formation, inflation, and trade openness. The results from the auto-regressive distributed lag model indicate that, in the long-run, Islamic banks' financing has a significant impact on the Indonesian economy. However, in the short-run, financing does not make a substantial contribution to Indonesian economic growth. The study’s key implication is that financing by Islamic banks still makes a limited contribution to economic growth in Indonesia. This study enhances the literature review, specifically on evaluating the contribution of Islamic banks towards economic growth. Numerous existing studies on this topic covering the crisis period data, which might suffer from data bias. Therefore, this study addresses this topic, excluding the global financial crises period such as 1998, 2008, and 2020, to demonstrate Islamic banks' evident contribution to Indonesian economic growth. Universitas Islam Negeri Raden Mas Said Surakarta 2021-03-27 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/383 10.22515/shirkah.v6i1.383 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 18-37 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/383/109 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/385 2021-12-08T23:08:45Z home:ART driver

Technology Readiness and Digital Competing Capabilities: Digital Value Resonance Panjaitan, Roymon Moonti, Agustinus Adam, Echan Digital Competing Capabilities Digital Consumer Habits Digital Value Resonance Innovation Products Technology Readiness The digital economy for MSMEs still possesses complex problems in the debate over technology readiness and competitive digital capabilities. The increase of dynamic product innovation changes is only effectively supported by digital value resonance. Addressing this issue, this research aims to explore the readiness of technology and the ability to compete digitally for innovative products through the resonance of digital value, especially for multi-business businesses. The data were collected from 170 respondents of small and medium-sized businesses through questionnaires. SEM-PLS techniques were used to analyze the data with a path mediated by digital value resonance on product innovation. The results showed that the resonance of digital value successfully mediated the relationship of technological readiness and digital competing capabilities, as well as direct links to the improvement of innovative products. Digital consumer habits also successfully strengthened the relationship of technological readiness and digital competing capabilities on the resonance of digital value. The advantages of this research lie in the synthesis of proposed digital value resonance variables from the results of resource-based view theory propositions in bridging the previous researcher gaps and contributing as a conceptual novelty model that can personalize digital value in the level of competition and increase MSMEs innovation products. Universitas Islam Negeri Raden Mas Said Surakarta 2021-07-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/385 10.22515/shirkah.v6i2.385 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 205-226 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/385/119 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/386 2021-12-08T23:08:45Z home:ART driver

The Contribution of Waqf on Poverty Alleviation through Digital Platforms: A Case of Indonesia Fanani, Ahmad Kuncoro, Ardhika Wahyu Husni, Ahmad bin Muhammad Wijayanti, Elina Adi Digital Platforms Poverty Alleviation Waqf Waqf Contribution Today, poverty is a crucial issue and has a great impact in social and economic development. Waqf (charitable endowment) is one of the sources of Islamic economic system, which refers to the voluntary charity. Waqf has a unique presence in Islam and could potentially alleviate poverty. It was reflected in the historical lesson since prophet Muhammad (PBUH) and his companions developed a system where rich people could donate their wealth for the society development. This concept, nowadays, is adopted by developing a Waqf system that integrates digital technology. Concerning on this issue, the present study aims to snapshot a poverty situation and portray the grand design of digital Waqf system in alleviating the poverty in Indonesia. Under the procedure of qualitative approach, this study employs document analysis and observation of all instruments related to Waqf. The results show that Waqf plays an important role in decreasing poverty in Indonesia. By utilizing digital platforms, the collection of Waqf funds is effective and widely spread to the Muslim community within the country. The results suggest that digital Waqf system has a crucial role and potentially contributes to the sustainable economic development of a developing country, particularly Indonesia. This study can be used in financial inclusion through the application of digital Waqf to alleviate poverty. Universitas Islam Negeri Raden Mas Said Surakarta 2021-09-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/386 10.22515/shirkah.v6i2.386 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 246-261 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/386/124 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/387 2021-12-08T23:08:45Z home:ART driver

Determinants of Online Zakat Intention amongst Muslim Millennials: An Integration of Technology Acceptance Model and Theory of Planned Behavior Ninglasari, Sri Yayu Financial Technology Muslim Millennials Online Zakat Intention Technology Acceptance Model Theory of Planned Behavior Today’s modern civilization has resulted in the crucial role of technology in human life, including financial matter. Integrating Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB), this study sheds some light on the determinants of Muslim millennials’ intention in performing zakat payment using Financial Technology (Fintech). An online questionnaire survey was conducted to gather the required data from a group of Indonesian Muslim millennials. Employing purposive sampling technique, the sample consisted of 200 respondents. The data were analyzed with the assistance of Structural Equation Model - Partial Least Square (SEM-PLS). The results demonstrated that perceived ease of use and perceived usefulness positively and significantly affected the respondents’ attitudes. Moreover, attitudes, subjective norms, and perceived behavioral control significantly affected the intention of using Fintech to perform zakat payment. The results further revealed that there was no direct influence between perceived ease of use and perceived usefulness on the respondents’ intention to use Fintech. However, it had an indirect effect by the mediation of attitude variable. As a theoretical implication, this study contributes to the literature enhancement in the discourse of TAM and TPB models in zakat context. Practically, it assists zakat management institutions recognize the Muslim millennial community and develop digital zakat payment platforms. Universitas Islam Negeri Raden Mas Said Surakarta 2021-08-24 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/387 10.22515/shirkah.v6i2.387 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 227-245 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/387/122 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/388 2021-07-13T16:52:22Z home:ART driver

The Debt Status of Commercial Company under Gharimin Perspective Hardi, Eja Armaz Arifin, Sirajul Djamaluddin, Burhan Commercial Company Debt Status Gharim Gharimin Zakat Currently, commercial entity companies are not regarded yet as one of the groups that receive the zakat. This paper examines the debt status and its micro and macro-economic implications of corporations that experienced the debt shackled in the zakat system through analogy on personal gharim (person in the burden debt). The analysis presented here has been designed on a library research, an analogy method, as well as seen from a debt trap theory. This paper particularly argues that in the twist condition of enterprises to repay their debt, a commercial company may be entitled as the recipient of zakat on behalf of gharim (the fifth group who receives the zakat). It further argues that the loan of the commercial company has a larger impact than individual gharim. Synchronizing the entity companies as “syakhsun i’tibariyun” (the legal person) to the personal obligation to pay zakat is matched to be the reasons for their gharim’s status. The results of this paper contribute to expanding the recipient of zakat on behalf of gharim and enhance the insight of zakat distribution in Islamic philanthropy institutions. Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-06 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/388 10.22515/shirkah.v6i1.388 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 66-82 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/388/112 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/391 2021-07-13T16:52:22Z home:ART driver

The Spiritual Values of Islamic Economics in Tasawuf Modern: Scrutinizing the Work of Haji Abdul Malik Karim Amrullah (Hamka) Hakim, Rahmad Fanani, Ahmad Haji Abdul Malik Karim Amrullah Islamic Economics Ethics Spiritual Values Sufism Tasawuf Modern Islamic economics has existed since the start of Islamic civilization. However, Islamic economic thoughts established by Indonesian scholars are limited. This exploratory research was carried out to determine the spiritual values of Islamic economics on Hamka's works entitled Tasawuf Modern. Primary and secondary data were collected from Hamka's works entitled Tasawuf Modern and from several papers or books that are relevant to the focus of the research. The data collected were analyzed by combining topics relevant to Islamic economics in modern Sufism and other secondary sources. Content analysis was used for data analysis. The results of this study revealed that, according to Hamka, the richest people are those that need the least. The true wealth lies in the contentment of the soul (qana'ah). Good wealth represents virtue and prohibiton for extravagancy and excessive consumerism. Further, humans need to be in between to carry out good deeds. The results of this study contribute to enriching the discourse of Islamic economic thought, especially in Islamic economic ethics and the role of ethics in business. Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-11 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/391 10.22515/shirkah.v6i1.391 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 83-100 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/391/113 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/402 2021-12-31T10:51:00Z home:ART driver

Exploring Gamification Strategy for Developing MSMEs during the COVID-19 Pandemic Saputra, Arief Dwi Rahmatia, Alfina Wahyuningsih, Sri Handari Azhar, Andi Entrepreneurial Behavior Entrepreneurship Education Gamification Strategy The COVID-19 pandemic brought about employees to be less enthusiastic due to the declining competitiveness and switching systems from offline to online. This study closely scrutinized how gamification strategies assume a part in entrepreneurial behavior on attitudes, subjective norms and behavioral control, and entrepreneurial education through self-efficacy, experience, and program involvement. Purposive sampling was utilized to choose a sample of 442 informants for this qualitative study. The review was carried out through a literature study and reinforced by in-depth interviews. The data was coded using the Nvivo 12 application with word similarity analysis at a maximum percentage of 100%. Based on the results of word similarity, there was a similarity in the relationship related to cluster analysis which classified the mutually supportive roles among variables as a business strategy during the pandemic. Overall, the application of gamification displays an impact on motivation, behavior change, and psychological effects on entrepreneurial behavior and education. The research contribution is utilized to address issues in the role of the organization as a solution to the relationship between gamification strategies and employee performance. The application of gamification strategies plays a role in opening fascinating exploration in the future. Further studies are expected to discuss pertaining business strategies in dealing with unexpected moments such as the COVID-19 pandemic. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/402 10.22515/shirkah.v6i3.402 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 380-398 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/402/130 Copyright (c) 2021 Arief Dwi Saputra, Alfina Rahmatia, Sri Handari Wahyuningsih, Andi Azhar

oai:ojs.pkp.sfu.ca:article/403 2022-08-17T04:30:02Z home:ART driver

Brand Value and Tourists’ Satisfaction in Lombok Indonesia as a Halal Tourism Destination Yusup, Muhamad Mas'ud, Riduan Johari, Maimunah Brand Value Halal Tourism Tourism Destination Tourism Satisfaction Since 2015, the Ministry of Tourism and Creative Economy of the Republic of Indonesia has appointed Lombok of West Nusa Tenggara as a halal tourism destination. Because of its natural beauty, which is comparable to that of Bali, the majority of the population is Muslim, and the island has a distinct religious culture and history, Lombok has a lot of promise in promoting halal tourism in Indonesia. This study intends to elucidate the relationship between destination brand awareness, brand image, brand quality, and destination brand value in increasing the destination brand satisfaction of tourists visiting Lombok. This study proposes a new model and clarifies the concept of a new indicator on the variable of destination brand value. Upon analysis of structural equation modeling (SEM) using convenience sampling employing WarpPLS software to 250 respondents, it was proven that the research model was accepted with a coefficient of determination (R2) of 86.6%. The proposed model shows destination brand value to be a determinant of tourists’ satisfaction. The model also proves that indicators of convenience, reasonable cost, fun, and getting benefits make a positive contribution to brand value destinations. This study offers practical implication that tourism managers should pay attention to and improve brand image, which currently has little impact on destination brand value, by building brand popularity and competitive advantages. Universitas Islam Negeri Raden Mas Said Surakarta 2022-04-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/403 10.22515/shirkah.v7i1.403 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 1-16 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/403/131 Copyright (c) 2022 Authors

oai:ojs.pkp.sfu.ca:article/409 2021-12-08T23:08:45Z home:ART driver

Users’ Experiences of Mobile Financial Services at Rural Areas of Bangladesh Rahman, Md. Mehadi Digital Finance Mobile Banking Mobile Financial Services Rural Areas of Bangladesh Users’ Experiences Mobile Financial Services (MFS) is one of the new innovations of the modern financial system. It nowadays plays a crucial role in banking users’ day-to-day financial activities. This study investigates users’ experiences of MFS at rural areas of Bangladesh. Specifically, this study sought to gain an understanding of to what extent different factors positively or negatively influence users’ experience in using mobile financial services. This study was mainly a survey research. The data were obtained using a questionnaire from a total of 128 MFS users (102 male and 26 female) living in rural areas of Bangladesh who were conveniently chosen from five Upazilla in Barishal city. The findings suggested that MFS users in rural areas of Bangladesh have both positive and negative experiences toward the use of mobile financial services. This study further revealed six major factors that have influenced the users’ positive and negative experiences in general, i.e. perceived usefulness, perceived ease of use, perceived risk, trust, customer and MFS agent relationship, and perceived cost. It was found that the last factor (perceived cost) have generated the users’ negative experiences toward mobile financial services. Therefore, the government and MFS providers are encouraged to work together with some innovative strategies to change the users’ negative experiences into positive experiences of using the mobile financial services. Universitas Islam Negeri Raden Mas Said Surakarta 2021-07-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/409 10.22515/shirkah.v6i2.409 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 161-184 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/409/123 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/412 2021-07-13T16:52:22Z home:ART driver

Advocacy Coalition Framework of Ultra Micro Loan Policymaking in Indonesia Soesilo, Nining I Advocacy Coalition Framework Development Planning and Policy Financial Markets and Institutions Microfinance Political Economy Provision and Effects of Welfare Programs Advocating the Ultra Micro-lending concept of Indonesia's Ministry of Finance in 2017 was a tumultuous nine-year process. The present paper aims to examine the Ultra Micro-lending (UMi) program conducted by the Ministry of Finance of Republic of Indonesia using Advocacy Coalition Framework. This paper showed that Advocacy Coalition Framework could moderate the interest groups' disagreement through seven steps as follows. First, relatively stable parameters of poverty need alleviation using better financial access with empowerment. Second, the external system is inspired by Grameen Bank as the winner of the Nobel Peace Prize. Third, removing constraints and resources of subsystem actors from the internal Ministry of Finance and the Parliaments. Fourth, creating consensus for getting the Ministry of Bureaucratic Reform's permit. Fifth, policy subsystem that coalesces the need of market-rate and subsidized rate to cater to 46.7 million grassroots entrepreneurs as a 'win-win' arrangement to complement the bank-based People's Business Credit (KUR). Sixth, policy outputs as the legal product of the UMi with a 7 Trillion State budget. Seventh, policy impact's measurement after one year piloting before UMi's scaling up. This paper has a significant contribution to enhancing the efficacy of UMi program, and as a continuous effort to ensure the economic development of the country. Universitas Islam Negeri Raden Mas Said Surakarta 2021-04-16 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/412 10.22515/shirkah.v6i1.412 Shirkah: Journal of Economics and Business; Vol. 6 No. 1 (2021); 115-136 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/412/115 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/416 2021-12-08T23:08:45Z home:ART driver

Female Users’ Behavioral Intention to Purchase in Social Commerce through Social Networking Sites Tun, Phyo Min Behavioral Intention Female SNS Users Intention to Purchase Social Commerce The present study aims to discover the relationship among social influence, verbal influence, easiness, trust, enjoyment, and intention to purchase in social commerce (S-Commerce), particularly by female users of social networking sites (SNS). A total of 280 responses were collected from female SNS users through an online survey. The obtained data were further examined for normality, construct validity, reliability, and model fit, using Structural Equation Modeling (SEM) to test the hypotheses. This study confirmed that social influence had a significant effect on verbal influence and trust; meanwhile enjoyment was influenced by trust and easiness. The results also revealed that trust and enjoyment had a positive effect on intention to purchase products or services from social commerce by the female SNS users. Moreover, verbal influence provided an impact on trust and easiness; while the relationship between social influence and enjoyment, easiness, and trust was not significant. These results contribute to offering fruitful insights for sellers and vendors of social commerce in attracting and acquiring the attention of female customers; as a result, it leads to achieving higher profits and flourishing business activities in social commerce. Universitas Islam Negeri Raden Mas Said Surakarta 2021-07-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/416 10.22515/shirkah.v6i2.416 Shirkah: Journal of Economics and Business; Vol. 6 No. 2 (2021); 137-160 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/416/116 Copyright (c) 2021 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/431 2021-12-31T10:49:54Z home:ART driver

The Determinant of Indonesian Stock Returns’ Volatility: Evidence from Islamic and Conventional Stock Market Indarwati, Septiana Widarjono, Agus Conventional Stock Price Islamic Stock Price Macroeconomic Variable Stock Return Volatility Islamic stock market is apparently different from the conventional stock market due to the prohibition of unlawful goods and excessive risk-taking behavior. This study explores the extent to which the Indonesian Islamic and conventional stock returns' volatility responds to the macroeconomic indicators. This study employs Jakarta Islamic Index (JII) and Indonesian Stock Exchange (IDX) and uses monthly time-series data covering 2001: M1 - 2019: M12. The volatility of stock returns is measured using Generalized Autoregressive Conditional Heteroskedasticity (GARCH). By employing the Autoregressive Distributed Lag Model (ARDL), the results validate the evidence of the long-run relationship between the stock market's volatility and macroeconomic variables. A rising in money supply and an economic upturn reduce the volatility of conventional stock returns but only an expansionary money supply diminishes the volatility of Islamic stock returns. Conversely, high inflation and sharp depreciation of the Rupiah boost the stock returns' volatility. The results further show an interesting finding that the Islamic stock market's volatility is more responsive to changes in macroeconomic indicators than the volatility of their counterpart conventional stock market. Policymakers should take strict rules during the worst economic conditions to minimize the negative impact of the instability of macroeconomic variables. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/431 10.22515/shirkah.v6i3.431 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 277-296 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/431/125 Copyright (c) 2021 Septiana Indarwati, Agus Widarjono

oai:ojs.pkp.sfu.ca:article/432 2021-12-31T10:49:54Z home:ART driver

Effectiveness of Islamic Monetary Policy Transmission on Inflation and Economic Performance Bawono, Anton Laksana, Khoir Umi Nabila, Rifda Himmati, Risdiana Bank Indonesia Sharia Certificate Economic Performance Inflation Islamic Interbank Money Market Islamic Monetary Policy The most crucial part for the economic development of a country is maintaining the stability of inflation to create a positive climate for economic and business activities. A number of efforts can be performed to achieve stable inflation and increase economic growth by designing monetary policy incorporating the variables of Bank Indonesia Sharia Certificate (SBIS), Islamic Interbank Money Market (IIMM), and Financing. Drawing on this issue, the in-hand study aims to examine the effectiveness of Islamic monetary policy transmission, using the instruments of SBIS, IIMM, and Financing, on inflation and economic performance (GDP) from the period of January 2011 to December 2020. Using secondary data, this study employs VAR/VECM approach by the assistance of Eviews program. The results reveal that in the short term period, inflation is significantly influenced by the IIMM, while GDP t is affected by the GDP t-1 and financing activities. In the long term period, both inflation and GDP are determined by SBIS and financing activities. In general, this study results in a conclusion that the variables of IIMM, financing activities, and GDP t-1 influence the economic performance both in short and long term periods. These results contribute as fruitful insights to developing financial strategies and monetary policy to maintain stable inflation and improve economic performance of a country. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/432 10.22515/shirkah.v6i3.432 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 336-360 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/432/128 Copyright (c) 2021 Anton Bawono, Khoir Umi Laksana, Rifda Nabila, Risdiana Himmati

oai:ojs.pkp.sfu.ca:article/433 2022-08-17T04:30:02Z home:ART driver

The Impact of the Provision of the COVID-19 Vaccine on Healthcare Stocks in Indonesia Faidah, Faridhatun Karatri, Rhealin Hening Alfarisi, Salman COVID-19 Vaccine Healthcare Stocks Stock Price Trading Volume The Coronavirus, which was firstly confirmed in Indonesia in 2020, had a hindering effect on the country's economy but a great impact on pharmaceutical companies. The first batch of vaccines that was administered in Indonesia on January 13, 2021, had a significant impact on healthcare stocks. This study examined the impact of the COVID-19 vaccine on healthcare stocks in Indonesia as seen from the stock price and the trading volume. Secondary data from 19 healthcare companies seven days before and seven days after the administration of COVID-19 vaccine was analyzed. Paired Samples t-test was carried out using the SPSS program. This study indicated that the administration of the COVID-19 vaccine has a strong impact in terms of increased changes in the healthcare stocks. Meanwhile, the trading volume decreased after the administration of the COVID-19 vaccine in Indonesia.The average of abnormal returns before and after the COVID-19 vaccine were at t-2, t+1, t+2, t+3, and t+7. Theoretically, the results of this discussion can be used as reference material for further research. In addition, it can be used in the development of knowledge in the field of stocks or pharmaceutical companies. The results of this study can practically be used as a reference for investors in making investment decisions. Universitas Islam Negeri Raden Mas Said Surakarta 2022-04-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/433 10.22515/shirkah.v7i1.433 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 49-69 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/433/134 Copyright (c) 2022 Authors

oai:ojs.pkp.sfu.ca:article/434 2022-08-17T04:30:02Z home:ART driver

Marketing Strategy for Agrotourism Development in Lampung Province Indonesia Roslina, Roslina Nurmalina, Rita Najib, Mukhamad Asnawi, Yudha Heryawan Agrotourism Analytic Hierarchy Process Marketing Strategy The enormous potential for the development of agrotourism in Indonesia has not been explored efficiently due to nonoptimal marketing. Therefore, this research formulated the marketing strategy for the agrotourism sector in Lampung Province Indonesia. Purposive sampling was used to select the respondents based on the criteria of experts with experience, knowledge, or authority in agrotourism. This led to the selection of 12 people in the Department of Agriculture and the Ministry of Tourism and Creative Economy, tourism operators consisting of the Hotel and Restaurant Association (PHRI), the Association of The Indonesian Tours and Travel Agencies (ASITA), and farmers/agritourism partners. Upon the analysis using the Analytic Hierarchy Process (AHP), the results showed that authentic experience should be prioritized with agrotourism actors or partners playing a big role in the marketing process. Furthermore, the addition of attractions with actors or partners is expected to play a key role in offering authentic experiences to tourists as a prioritized alternative strategy. These findings, therefore, showed the need for coordination and collaboration, intensifying marketing communications as well as the provision of tour packages to increase agrotourism marketing in the study area. Universitas Islam Negeri Raden Mas Said Surakarta 2022-04-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/434 10.22515/shirkah.v7i1.434 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 70-85 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/434/135 Copyright (c) 2022 Authors

oai:ojs.pkp.sfu.ca:article/436 2021-12-31T10:49:54Z home:ART driver

Charitable Behavior of Muslim in Indonesia during the COVID-19 Pandemic: A Tobit Model Analysis Awirya, Agni Alam Piliyanti, Indah Novita, Dian Charitable Behavior COVID-19 Pandemic Islamic Philanthropy Tobit Regression The COVID-19 pandemic has caused a decline in social welfare. In such a situation, community philanthropy, including from the Muslim community, becomes critical. This study aims to explore the charitable behavior of Muslims in Indonesia during the COVID-19 pandemic. The Tobit regression was used to analyze data from online surveys to determine the pattern changes of donations during the pandemic as well as the factors affecting the amount of donation. This study uncovered that Zakat Management Organizations (BAZNAS and LAZ) were some of the main choices for distributing zakat and alms (sedekah) during the pandemic. It was found that the factors with a positive and significant effect on the probability of increasing the percentage of donations were education, length of stay, and expenses. The results of this study contribute to the policy of developing the Zakat Management Organization as institutions trusted by the community in distributing zakat funds. This study supports the fundraising of the zakat organizations in terms of offering valuable insights and clear description about the Indonesian people’s charitable behavior. More importantly, this study suggests that improving the quality of education is crucial to increase community awareness in performing Islamic philanthropy such as giving zakat, sedekah, and waqf. Universitas Islam Negeri Raden Mas Said Surakarta 2021-12-31 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/436 10.22515/shirkah.v6i3.436 Shirkah: Journal of Economics and Business; Vol. 6 No. 3 (2021); 361-379 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/436/129 Copyright (c) 2021 Agni Alam Awirya, Indah Piliyanti, Dian Novita

oai:ojs.pkp.sfu.ca:article/441 2023-06-20T09:25:21Z home:ART driver

Factors Influencing Muslim Customer Loyalty: The Mediating Effect of Muslim Customer Satisfaction in Indonesia Olyvia, Devy Leony Darwanto, Darwanto Brand Image Halal Labeling Product Quality Muslim Customer loyalty Price McDonald's held the second position in the Top Brand Index for five consecutive years from 2015 to 2020 conducted by Frontier Consulting Group, with participation from customers in eight major cities in Indonesia, including Semarang city. McDonald's experienced a decline in customer loyalty, which poses a challenge for the restaurant to maintain its customer base and attract new customers. Therefore, this research aims to examine the factors that influence Muslim customers' loyalty to McDonald's. The study focuses on Muslim customers with McDonald's subscriptions in Semarang City, with a sample of 144 respondents. The analysis technique used was the Structural Equation Model-AMOS. The study reveals that halal labeling, product quality, and Muslim customer satisfaction have a significant effect on Muslim customer loyalty. The quality and price of the product have a significant effect on Muslim customer satisfaction. Muslim customer satisfaction as an intervening variable cannot mediate all variables on Muslim customer loyalty. Hence, producers should focus on products of al-tayyibat. Universitas Islam Negeri Raden Mas Said Surakarta 2023-03-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/441 10.22515/shirkah.v8i1.441 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 1-18 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/441/159 https://shirkah.or.id/new-ojs/index.php/home/article/view/441/250 Copyright (c) 2023 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/447 2022-12-12T07:47:28Z home:ART driver

Performance, Competence, Job Satisfaction, and Financial Compensation of Cosmetics Salesforce during the COVID-19 Outbreak Suseno, Bambang Dwi Sofa, Indah Hartini Widayanto, Mohammad Tri Basrowi, Basrowi Competence Cosmetic Industry Financial Compensation Job Performance Salesforce Performance The COVID-19 pandemic caused a decrease in sales turnover for the cosmetic industry, causing salesforce performance to be unsatisfactory. The study developed a model to improve the performance of the cosmetics industry in Banten Province of Indonesia. This quantitative study employed SmartPLS 3.3.2 version to analyze the data obtained from 120 respondents through observations and questionnaire. The results of the empirical model with SEM-PLS revealed that competence has a significant positive effect on financial compensation, competence has a significant positive effect on salesforce job satisfaction, salesforce job satisfaction has a significant positive effect on salesforce performance, financial compensation has no effect on salesforce performance, and salesforce performance has no effect on financial compensation. It is recommended that the cosmetic industry recalculate the amount of compensation appropriately according to measurable performance to yield an impact on salesforce performance. This study highlights the importance of competence-based compensation for fostering self-improvement of employee. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/447 10.22515/shirkah.v7i2.447 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 187-200 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/447/147 Copyright (c) 2022 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/451 2022-08-17T04:30:02Z home:ART driver

Halal Marketplace: The Influence of Attitude, Subjective Norms, and Perceived Behavior Control on Purchase Intention of Muslim Consumers Fuadi, Nasrul Fahmi Zaki Bukhori, Baidi Firdiyanti, Shovia Indah Consumer Behavior Halal Marketplace Muslim Consumers Perception Purchase Intention Halal is currently a global concept that is becoming more universally recognized. Strengthening the digital economy is advocated by the 2019–2024 Indonesian Islamic Economic Masterplan (MEKSI), whose primary target is the halal market. Drawing in this issue, this study scrutinizes the influence of attitude, subjective norms, and perceived behavior control on the purchase intention of Muslim consumers in the halal marketplace. This study involves the Muslim community in Semarang, Indonesia. Taking a sample of 100 respondents, this quantitative study was used with multiple linear regression. The results demonstrated that Muslim consumers have a good understanding of the halal market. An individual's understanding of the halal market improves with increasing levels of education. Subjective norms and behavior control have a significant influence on the purchase intention of Muslim consumers in the halal marketplace. Attitude does not significantly influence Muslim consumers' purchase intentions in the halal marketplace. The outcomes of this research are anticipated to be helpful to Muslim consumers and entrepreneurs in encouraging competitiveness and sales so they may create a digital platform-based halal marketplace ecosystem in light of KNKS' expectations. Universitas Islam Negeri Raden Mas Said Surakarta 2022-08-16 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/451 10.22515/shirkah.v7i1.451 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 100-112 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/451/138 Copyright (c) 2022 Shirkah: Journal of Economics and Business

oai:ojs.pkp.sfu.ca:article/456 2023-06-20T09:25:21Z home:ART driver

The Financial Performance of Islamic Rural Bank in Indonesia: A Bibliometric Analysis Christiyanto, Wenda Wahyu Solikin, Ikin Purnomo, Budi Supriatono Andriana, Denny Bibliometric Analysis Financial Performance Islamic Rural Banks No bibliometric investigation has been carried out regarding the Financial Performance of the Islamic Rural Bank in Indonesia, even though Indonesia harbors the largest Muslim population, denoting an untapped market for Islamic financial institutions. This study aims to conduct extensive bibliometric literature on Financial Performance of the Islamic Rural Bank in Indonesia. The study utilized Publish or Perish (PoP) software to identify articles related to the topic from the Google Scholar database. Out of 982 articles found between 2015 and 2020, 68 articles were relevant and selected for analysis. These articles were further processed using Mendeley reference manager software and visualized using VOSviewer. The study outcomes provide a comprehensive view of the timeframe of publications, academic journals, citation rates, authorship, research subjects, and methodologies applied in examining financial performance. It provides a summary of the variables that impact the financial performance of Islamic rural banks in Indonesia and puts forth an all-encompassing framework for predicting the financial performance of these banks. This study serves as a valuable reference for future research on the Financial Performance of Islamic Rural Banks in Indonesia by providing an overview of potential topics, research methodology, variables involved, and a suggested financial performance model for Islamic rural banks in Indonesia. Universitas Islam Negeri Raden Mas Said Surakarta 2023-03-26 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/456 10.22515/shirkah.v8i1.456 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 31-47 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/456/161 Copyright (c) 2023 Wenda Wahyu Christiyanto

oai:ojs.pkp.sfu.ca:article/464 2022-08-17T04:30:02Z home:ART driver

Factors Strengthening the Fundamental Concept of Human Relations in Islamic Financial Institutions of Indonesia Sukardi, Budi Fachrurazi, Fachrurazi Asmanto, Eko Fundamental Concept of Human Relations in Islam Islamic Financial Institutions (IFIs) Islamic Banking This study seeks to manifest the factors in strengthening and improving the fundamental concepts of human relations in Islamic banking including motivation, concepts and perceptions of individuals, power, decision-making, communication, leadership, mentality, social environment, individual differences, and human dignity. They are scrutinized in Islamic financial institutions in Indonesia. This quantitative study employed a non-experimental approach. 38 Islamic financial institutions were involved as the representative sample. Data from the questionnaire were analyzed using factor analysis to reduce the data by summarizing several factors and renaming them as new factors. Verification using factor analysis with correlation matrix showed that the human dignity provides a significant relationship to all factors in human relations in Islam with a significance of < 0.05. All factors were found valid with the highest validity of 0.802 (human dignity). The results of the reduction factor brought up three new factors social, psychological, and leadership factors. This study proves that the essential components to strengthen and improve human relations in Islamic banking are implementing and improving social, psychological, and leadership aspects. Universitas Islam Negeri Raden Mas Said Surakarta 2022-04-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/464 10.22515/shirkah.v7i1.464 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 17-32 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/464/132 Copyright (c) 2022 Budi Sukardi, Fachrurazi Fachrurazi, Eko Asmanto

oai:ojs.pkp.sfu.ca:article/467 2023-03-19T23:32:58Z home:ART driver

Consumer Reviews, Ratings, and Gamification on Muslim Millennials’ Online Purchasing Decisions Prastiwi, Septi Kurnia Rohimat, Asep Maulana Aisyiah, Helti Nur Gamification Online Consumer Review Online Purchasing Decisions Ratings Trust Since previous research on the relationship among Online Consumer Review (OCR), ratings, gamification, and online purchasing decisions had mixed results, this study involves trust as a mediating variable, which has never been explored in previous research, to explore online consumer reviews, ratings, and gamification in increasing trust of Muslim Millennials for online purchasing decisions. Investigating Muslim millennials in Central Java and Yogyakarta, 114 questionnaire results were analyzed using Structural Equation Model. The results showed that OCR and ratings affect Muslim Millennials' online purchasing decisions at Shopee, while gamification cannot affect them. Trust in this research model could not affect purchasing decisions. Thus, the trust could not be a mediating variable. The results of this study will be useful for Micro, Small and Medium Enterprises (MSMEs) and the online shop’s development team to maintain the image of an online store. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/467 10.22515/shirkah.v7i3.467 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 267-285 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/467/153 Copyright (c) 2022 Septi Kurnia Prastiwi, Asep Maulana Rohimat, Helti Nur Aisyiah

oai:ojs.pkp.sfu.ca:article/468 2023-06-20T09:25:21Z home:ART driver

Unmasking the Effect of News Media on Islamic Stock Market: Are ASEAN-3 Countries Vulnerable to COVID-19 News? Rahmi, Syarifa Fatwa, Nur Maulana, Agung Contagion Index Fake News Index Media Hype Index News Sentiment Panic Emotion Index Sharia Stock Index Sentiment Index This study provides a novel viewpoint by clarifying the effect of the COVID-19 news on the fluctuations of the Islamic capital market in the ASEAN Region. It aims to explore the effect of news related to the COVID-19 pandemic on the movement of the Islamic stock index in ASEAN-3 countries (Indonesia, Malaysia, Thailand). This research examined five news-related indices: panic emotion index, media hype index, sentiment index, fake news index, and contagion index. The research employed long-term daily secondary data covering one year during the COVID-19 pandemic to test the hypothesis. A total of 1086 data were analyzed using the panel regression method through EViews 9. The findings indicated that news media and the resulting sentiment have the potential to negatively affect the Islamic stock index movement through the panic and media hype index. The excitement and panic caused by the online news media negatively affected the movement of Islamic stock prices in the three ASEAN Islamic stock indexes, whereas fake news and contagion index were found to have no significant effect on the stock index movement. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-04 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.spreadsheetml.sheet https://shirkah.or.id/new-ojs/index.php/home/article/view/468 10.22515/shirkah.v8i1.468 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 78-94 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/468/165 https://shirkah.or.id/new-ojs/index.php/home/article/view/468/249 Copyright (c) 2023 Syarifa Rahmi, Nur Fatwa, Agung Maulana

oai:ojs.pkp.sfu.ca:article/472 2022-12-12T07:47:28Z home:ART driver

Islamic Finance-Growth Nexus: Evidence from Indonesia Bella, Firsty Izzata Mawardi, Imron Amelia, Ishma Islamic Finance Islamic Capital Market Islamic Banking Finance-Growth Economic Growth ARDL-ECM Previous work on the financial industry, which covers the entire financial services sector and is related to economic growth, has remained limited. This present study empirically analyzed the growth of Indonesia’s three main sectors of the Islamic Financial Industry (Islamic Capital Market, Islamic Banking, and Islamic non-bank Financial Industry) towards economic growth between 2014Q1 and 2021Q3. The quarterly data was processed through the ARDL Bound-test for cointegration and Error Correction Model (ECM). The research revealed three of the four research variables (sharia stock, Sukuk, and sharia insurance) that significantly affect GDP, while Islamic banking shows no significant effect on GDP. As a result, Indonesian Islamic banks must optimize funds for the productive sector. Future policies should consider maximizing the role of the Islamic financial industry to accelerate economic growth. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-08 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/472 10.22515/shirkah.v7i2.472 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 139-154 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/472/144 Copyright (c) 2022 Firsty Izzata Bella, Imron Mawardi, Ishma Amelia

oai:ojs.pkp.sfu.ca:article/474 2023-03-19T23:32:58Z home:ART driver

Religiosity or Income? Factors Driving Customer Buying Interest in Islamic Insurance Products Nurohman, Dede Buying Interest Income Islamic Insurance Products Religiosity Despite the enormous potential represented by an 87% Muslim population and the growing welfare of the Muslim community in Indonesia, Islamic insurance has not grown rapidly during the past decades. The primary issues that hinder the growth of the Islamic insurance sector are thought to be people's level of income and religiosity. Therefore, this paper attempts to investigate the effect of religiosity and income on people's interest in buying Islamic insurance products. This study employed a quantitative approach with a questionnaire as a data mining technique. 200 residents of eight districts and cities in East Java, a province in Indonesia, participated as respondents in this study. The data analysis involved descriptive analysis, inferential analysis, classical assumption test, and hypothesis test. This study demonstrates that people's interest in buying Islamic insurance products is positively and significantly influenced by their religiosity and income, either partially or simultaneously. This result can be taken into account by the Islamic insurance sector when planning the best marketing plan, especially for the wealthy and fervently religious Muslim segment of society. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/474 10.22515/shirkah.v7i3.474 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 286-301 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/474/156 Copyright (c) 2022 Dede Nurohman

oai:ojs.pkp.sfu.ca:article/478 2022-12-12T07:47:28Z home:ART driver

The Role of Islamic and Conventional Microfinance in Tackling Financial Exclusion in Bangladesh, Nigeria, and Uganda Azrak, Tawfik Edema, Muzamil Conventional Microfinance Financial Exclusion Financial Inclusion Islamic Microfinance There has been to pertinent study considering the growth of Islamic and conventional microfinance institutions as an antecedent of financial inclusion in Bangladesh, Nigeria, and Uganda in a single study. Adults who are financially excluded make up sizable numbers in Bangladesh, Nigeria, and Uganda, the three OIC countries. Financial exclusion has been addressed through the establishment of microfinance institutions. This study attempts to review the contribution of Islamic and conventional microfinance institutions established in these countries in tackling financial exclusion. The study used the data from the Global Findex Database of the World Bank and IMF Financial Access Survey to draw a comparative image of financial access among the countries. The evidence indicated that there are significant financial gaps across the countries and hence a huge opportunity for Islamic microfinance with its vast range of financial products could be implemented to spur economic growth and tackle financial exclusion. Policymakers can use the study's findings to entice and build new microfinance institutions with broadly inclusive products for all populations of these countries. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/478 10.22515/shirkah.v7i2.478 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 113-123 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/478/140 Copyright (c) 2022 Tawfik Azrak, Muzamil Edema

oai:ojs.pkp.sfu.ca:article/480 2022-12-12T07:47:28Z home:ART driver

Waqf and Environment: A Bibliometric Analysis Anam, Muhammad Syariful Ahmad, Rasikh Saifan Ali, Reza Awaliah Rosia, Rina Bibliometric Analysis Environment Waqf Despite the plethora of studies on environmental waqf in the literature, research objectives and results are still inconsistent. Therefore, this study maps the literature on environmental waqf to explore future research directions. Based on data from Scopus from 2001 to March 2022, bibliometric analysis using VOSviewer was used to create this mapping research system. This study visualized a map of co-authorship and co-occurrence of keywords. We present several aspects of the literature on environmental waqf, such as the number of publications per year, document type, journal, author, affiliation, country, subject, and topic. The environmental waqf research review is made up of 120 articles written by 160 authors who are affiliated with 116 institutions across 29 countries. These articles were published in 79 sources. The bibliometric results through the analysis of the keywords identified four research streams: waqf in sustainable development, regional planning, waqf governance in the agricultural sector, and cash waqf for welfare improvement. This study proposes future directions for environmental waqf research, focusing on the role of waqf in achieving the goal of sustainable development for environmental stability. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/480 10.22515/shirkah.v7i2.480 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 201-218 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/480/148 Copyright (c) 2022 Muhammad Syariful Anam, Rasikh Saifan Ahmad, Reza Awaliah Ali, Rina Rosia

oai:ojs.pkp.sfu.ca:article/482 2022-12-12T07:47:28Z home:ART driver

Practical Implication of Zakat in Socio-economic Empowerment during the COVID-19 Pandemic Lestari, Meliana Eka Puji Febiyanti, Cenny Sanita Abdul Rohman, Muhammad Riyal Hani Annisaa’, Fella Shasmita Susanti, Adilnia Fifi Medias, Fahmi Practical implication of Zakat Socio-economic Empowerment OIC countries The extent to which zakat has contributed to and been implicated in the socio-economic empowerment of Muslim countries has not been the subject of a literature review. This study analyzes the practical implications of zakat in the OIC countries during the COVID-19 pandemic from the existing literature. Data were obtained from Harzing's Publish or Perish to analyze the role of zakat involvement in the socio-economic community in OIC countries from 2019 to 2021. 31 scholarly studies on the topics of economics, health, and education illustrate the economic implications of zakat. The discussion on the implications of zakat includes poverty reduction, economic empowerment, and MSMEs improvement. Zakat helps to fund community health care. Zakat provides educational scholarships, and school infrastructure, and enhances the feasibility of school arrangements. This study could assist the government to recognize the importance of zakat for socioeconomic empowerment and help policymakers develop strategic strategies to increase zakat participation, particularly in Muslim countries. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/482 10.22515/shirkah.v7i2.482 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 155-166 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/482/145 Copyright (c) 2022 Fahmi Medias, Meliana Eka Puji Lestari, Cenny Sanita Febiyanti, Muhammad Riyal Abdul Rohman, Fella Shasmita Hani Annisaa’, Adilnia Fifi Susanti

oai:ojs.pkp.sfu.ca:article/483 2023-03-19T23:32:58Z home:ART driver

Capital Structure Adjustment Speed in Indonesia: Does Sharia Compliance Matter? Pujiastuti, Arum Saefudin, Saefudin Yunita, Rizki Dini Shandra Astuti, Yuni Capital Structure Sharia Compliance Speed of Adjustment Leverage Speed of Adjustment (henceforth SOA) has previously been studied by researchers; however, the examination of its connection with sharia law has been overlooked. The majority of the literature currently in circulation comes from the Middle East and North Africa (MENA) region and Malaysian markets, so its implications for businesses in Indonesia may not be applicable given local regulations and cultural norms. This study investigates the distinction in the debt levels and the SOA of firms in Indonesia based on compliance to sharia law. The Two-step Generalized Method of Moment (GMM) model was used to calculate the SOA in the leverage model. We discover that sharia compliance plays a role in stimulating the Indonesian firm’s level of debt and leverage SOA. To put it more precisely, sharia firms use less debt and have a slower SOA than conventional firms. Overall, Indonesian firms implement the dynamic trade-off theory in their leverage framework. Instead of relying on conventional debt, which is only available at certain levels, sharia firms must issue Islamic debt instruments to accelerate the speed of adjustment. Even after a robustness test using various sharia compliance approaches, our results remained consistent. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/483 10.22515/shirkah.v7i3.483 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 239-252 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/483/150 Copyright (c) 2022 Arum Pujiastuti, Saefudin Saefudin, Rizki Dini Shandra Yunita, Yuni Astuti

oai:ojs.pkp.sfu.ca:article/484 2023-03-19T23:32:58Z home:ART driver

Bank Credit in Financial Cycle during COVID-19 Pandemic: Dilemma from Indonesia Basmar, Edwin Campbell III, Carl M. Basmar, Erlin Bank Credit Financial Crisis Financial Behavior Financial Cycle Bank credit is crucial to boost economic growth and preserve financial stability during the COVID-19 pandemic. However, a previous study has yet to establish the state of bank credit in the financial cycle during the COVID-19 pandemic in Indonesia. This study discovered different categories of banking credit dilemmas during the COVID-19 pandemic in Indonesia, including mild category, moderate category, heavy category, and very heavy category. During the global pandemic from 2019 to July 2021. This study used monthly development of the Ed Waves Index model through the Financial Report of Bank Indonesia. The pressure dilemma includes moderate category (1 time), mild category (1 time), heavy category (2 times), and very heavy category (1 time) which indicate that there is serious pressure on financial stability and economic growth in Indonesia during the outbreak. This research makes an important contribution to the banking sector and Bank Indonesia in controlling the bank's soundness through distribution channels of credit and a stable financial cycle as well as economic growth in Indonesia during the COVID-19 pandemic. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/484 10.22515/shirkah.v7i3.484 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 253-266 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/484/152 Copyright (c) 2022 Edwin Basmar

oai:ojs.pkp.sfu.ca:article/487 2022-12-12T07:47:28Z home:ART driver

Is Loan Shark an Alternative? The Intentions to Take a Loan from Loan Sharks in Indonesia Kamal, Safwan Muslem, Muslem Mulyadi, Mulyadi Kassim, Erne Suzila Zulkifly, Muhammad Uzair Islamic Finance Loan Shark Intention Knowledge of Usury Research rarely reaches the discussion of loan sharks. This study describes how intentions are influenced by service, word-of-mouth, and subjective norms, with knowledge of usury acting as a moderating variable. This quantitative study involved 150 respondents. The data collected was analyzed by using structural Equation Modeling (SEM) with SmartPLS 3 Software. According to this study, service significantly affected intention to take a loan from loan sharks but had no influence on word-of-mouth. Though it has no influence on intention, the subjective norm has a significant influence on word-of-mouth. The service on the intention is mediated by word of mouth, which has an influence on the intention. However, word-of-mouth does not act as a mediating variable between subjective norms and intentions. The intention to use the services of loan sharks is significantly moderated by knowledge about usury, which also significantly moderates word-of-mouth and subjective norms. It did not, however, moderate the influence of service on intentions. As a result, it is recommended that the government create Islamic financial institutions not only for the middle class and upper class but also for the lower economic class, which is vulnerable to loan sharks. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-08 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/487 10.22515/shirkah.v7i2.487 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 167-186 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/487/146 Copyright (c) 2022 Safwan Kamal, Muslem Muslem, Mulyadi Mulyadi, Erne Suzila Kassim, Muhammad Uzair Zulkifly

oai:ojs.pkp.sfu.ca:article/490 2023-09-06T03:13:48Z home:ART driver

Non-Muslims' Intention to Consume Halal Food in Indonesia Lubis, Arowadi Setyono, Joko Intention Attitude Subjective Norms Perceived Behavioral Control Religiosity Halal Food The effect of religiosity on intention to consume halal food among non-Muslims on a national scale has not been examined in previous studies. This research aims to gauge the acceptance of non-Muslims toward halal-certified food in Indonesia by investigating the effect of attitude, subjective norms, perceived behavioral control, and religiosity on the intention of non-Muslims to consume halal food. Data was collected from 250 respondents in each province using convenience sampling and analyzed using PLS-SEM. The results show that attitude, subjective norms, and religiosity significantly affect intention, while perceived behavioral control does not show significance. Theoretical implications of this research lie in its potential contribution to the academic discourse surrounding the acceptance of halal-certified food among non-Muslim people. Additionally, this study is expected to yield practical benefits by informing campaigns aimed at promoting halal-certified food among non-Muslims. Universitas Islam Negeri Raden Mas Said Surakarta 2023-05-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.spreadsheetml.sheet application/octet-stream application/octet-stream application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/490 10.22515/shirkah.v8i2.490 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 172-188 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/490/172 https://shirkah.or.id/new-ojs/index.php/home/article/view/490/251 https://shirkah.or.id/new-ojs/index.php/home/article/view/490/252 https://shirkah.or.id/new-ojs/index.php/home/article/view/490/253 https://shirkah.or.id/new-ojs/index.php/home/article/view/490/254 Copyright (c) 2023 Arowadi Lubis, Joko Setyono

oai:ojs.pkp.sfu.ca:article/498 2023-03-19T23:32:58Z home:ART driver

Islamic Banking Financial Inclusion and Tax Revenue in OIC Countries: To What Extent do They Correlate? Alan Nur, Muhammad Febriyanti, Annisa Rahma Rusgianto, Sulistya Herianingrum, Sri Islamic Banking Financial Inclusion Tax Revenue OIC Countries Tax revenue of Organization of Islamic Cooperation (henceforth OIC) countries has not reached the global average, and so has the financial inclusion. Notwithstanding this fact, few researchers have addressed the effect of financial inclusion on tax revenue in the context of Islamic finance while it is undeniably having significant connection to the real sector. Drawing on this crucial issue, the present study calls into the possible effect of Islamic banking financial inclusion on tax revenue in eleven countries of OIC membership consisting of Indonesia, Jordan, Kazakhstan, Kuwait, Malaysia, Nigeria, Oman, Pakistan, Saudi Arabia, Turkey, and the United Arab Emirates in the period of 2013 to 2019. The data were analyzed under the procedure of panel data regression using fixed effect model. The result depicted that Islamic banking financial inclusion, in terms of financial access and financial usage, had no significant effect on tax revenue of the OIC countries. This result is reasonable, since Islamic banking financial inclusion still requires massive promotion particularly by the OIC countries included in this study.  Hence, this study leaves an implication for OIC countries to foster Islamic banking financial inclusion as a crucial effort to increase the tax revenue, in which Islamic banks play a promising role for sharia-compliance-based financial transactions in the recent years. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/498 10.22515/shirkah.v7i3.498 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 302-317 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/498/154 https://shirkah.or.id/new-ojs/index.php/home/article/view/498/255 Copyright (c) 2022 Muhammad Alan Nur, Annisa Rahma Febriyanti, Sulistya Rusgianto, Sri Herianingrum

oai:ojs.pkp.sfu.ca:article/501 2022-08-17T04:30:02Z home:ART driver

Knowledge Sharing and Individual Diversity Interaction at Zakat Institutions in Indonesia: Testing the Relationship Aflah, Kuntarno Noor Affective Commitment Employee Performance Individual Diversity Interaction Knowledge Sharing Religiosity Research on the relationship between knowledge sharing and employee performance is still inconsistent. Hence, this study offers novelty by involving a variable of individual diversity interaction to investigate the effect of knowledge sharing on employee performance as observed by the ability of employees in achieving individual targets in collecting and distributing ZIS (zakat, infak, and alms). This study included 195 respondents that were analyzed with Structural Equation Modelling using AMOS. The results indicated that knowledge sharing has a positive and significant effect on individual diversity interaction. Individual diversity interactions have a positive and significant effect on religiosity and affective commitment. Moreover, religiosity and individual diversity interaction have a positive and significant effect on employee performance. However, affective commitment indicates no effect on employee performance. This study suggests that to improve performance, employees at zakat institutions need to further intensify their knowledge sharing. This study can be utilized as a resource for more research and to upgrade employees' ZIS collection and distribution capacity. Universitas Islam Negeri Raden Mas Said Surakarta 2022-08-11 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/501 10.22515/shirkah.v7i1.501 Shirkah: Journal of Economics and Business; Vol. 7 No. 1 (2022); 86-99 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/501/136 Copyright (c) 2022 Kuntarno Noor Aflah

oai:ojs.pkp.sfu.ca:article/506 2022-12-12T07:47:28Z home:ART driver

Social Influence, Religiosity, and Salesperson Service on Saving Intention in Islamic Banks: The Mediating Role of Perceived Ease of Use of Technology Haryanto, Aris Tri Wulandari, Fitri Islamic Banks Perceived Ease of Use of Technology Religiosity Salesperson Service Saving Intentions Social Influence Research on the Theory of Planned Behavior (TPB) in the context of Islamic banks management has been conducted for years. However, studies investigating the mediating role of perceived ease of use of technology on saving intention in Islamic banks by considering social influence, religiosity, and salesperson service still require more paucity of evidence. This study adopted the TPB and Perceived Behavior Control (PBC). Purposive sampling was used to select 250 respondents who were customers of Islamic banks in Surakarta municipality, Indonesia. The data were analyzed by using the Structural Equation Model (SEM) with SPSS AMOS 22.  The results indicate that social influence, religiosity, and salesperson service have a positive and significant impact on saving intentions in Islamic banks. With partial mediating results, perceived ease of use of technology mediates the effect of social influences on saving intention in Islamic banks.  Meanwhile, the role of perceived ease of use of technology in mediating social influence on saving intentions is ineffective. Salesperson service has the biggest effect on saving intentions since they are directly interacting with customers. The results contribute to providing fruitful insights to sharia banks that sales person service and religiosity are two crucial factors determining the consumers’ satisfaction. Universitas Islam Negeri Raden Mas Said Surakarta 2022-09-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/506 10.22515/shirkah.v7i2.506 Shirkah: Journal of Economics and Business; Vol. 7 No. 2 (2022); 124-138 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/506/143 Copyright (c) 2022 Aris Tri Haryantoa, Fitri Wulandari

oai:ojs.pkp.sfu.ca:article/516 2023-06-20T09:25:21Z home:ART driver

The Use of Information Technology System for Risk Control at a Sharia Cooperative Bakhri, Saiful Asnawi, Nur Djalaluddin, Ahmad Risk Control Information Technology Systems Sharia Cooperative The use of technology plays an unnegotiable role in the risk control of sharia cooperatives. Because almost all sharia cooperatives lack proper information technology systems, many cooperatives are unable to recognize the risks, particularly due to a lack of liquidity as well as a lack of managerial supervision and control over operational transactions carried out by officers. An improvement in the current information technology systems can replace these roles. This study analyzes the use of information technology systems in the financing, liquidity, and sharia compliance risk control in the BMT UGT Nusantara Cooperative, located in Pasuruan East Java. This descriptive qualitative involves informants of administrators, supervisors, managers, branch heads, and IT providers. With automatic notification system, applicant screening, application adjusting policies and regulation, this study indicates that upgrading information technology systems are critical to minimizing risks and lowering the ratio of non-performing financing. It also eases the applicants as well as the institution in the process of application and screening as well as an installment payment. Universitas Islam Negeri Raden Mas Said Surakarta 2023-03-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/516 10.22515/shirkah.v8i1.516 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 48-59 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/516/162 Copyright (c) 2023 Saiful Bakhri, Nur Asnawi, Ahmad Djalaluddin

oai:ojs.pkp.sfu.ca:article/520 2023-06-20T09:25:21Z home:ART driver

The Mawar Emas Program for Fighting Moneylenders Mas'ud, Riduan Said, Jamaliah Azizurrohman, Muhammad Mawar Emas moneylenders evaluation West Nusa Tenggara The Mawar Emas Program, a program aimed at countering moneylenders in West Nusa Tenggara, Indonesia, has been running for two years. However, there is insufficient research to evaluate its effectiveness, requiring further analysis. This qualitative study evaluates the performance of this program since its establishment. The study's respondents were mosque administrators, the Chair and Secretary of the NTB Sharia Economic Community (MES), beneficiaries, and banks. Each respondent was interviewed to collect data related to the Mawar Emas program. The study found that the program has aided 32 mosques in West Nusa Tenggara, benefiting a total of 1,194 potential borrowers. The Mawar Emas program has an annual budget of Rp. 1,275,000,000; however, these funds have not been fully utilized. Funding and absorption of funds decreased in the program's second year. Several program elements require evaluation, such as increased funding, default rates, training delivery, obsolete data, and profit-oriented institutions. The study's findings contribute to facilitating MES's ability to assess and improve the program. Universitas Islam Negeri Raden Mas Said Surakarta 2023-03-23 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/520 10.22515/shirkah.v8i1.520 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 19-30 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/520/160 Copyright (c) 2023 Riduan Mas'ud

oai:ojs.pkp.sfu.ca:article/521 2023-11-30T00:31:31Z home:ART driver

Faith-based Social Entrepreneurship: Improving Mosque's Socio-Economic Values in Emerging Country Thoha, Ahmad Faiz Khudlari Mujahidin, Ali Faith-based Organization Faith-based Social Enterprise Hybrid Organization Mosque Management Social Entrepreneurship The religious perspective in the literature on social entrepreneurship remains largely unexplored, resulting in a scarcity of studies that analyze social entrepreneurship through a religious lens. Social entrepreneurship, including its manifestation in religious organizations as faith-based social enterprises, has emerged as a significant innovation in addressing diverse social issues, with the vast number of mosques in Indonesia presenting a promising opportunity to contribute to the betterment of the community's well-being. This study aims to identify the transformation process at the Masjid Ar Rahmah Surabaya and its impacts on social welfare considering its successful establishment as a faith-based social enterprises over the past five years, managing multiple business units and generating social benefits. Employing a case study, data were collected through interviews, observations, and document studies. The findings of the study present a model consisting of stages such as opportunity recognition, business establishment, resource acquisition, and organizational reconfiguration. These insights have implications for addressing social issues and enhancing community welfare in Indonesia and other emerging countries. Universitas Islam Negeri Raden Mas Said Surakarta 2023-08-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/521 10.22515/shirkah.v8i3.521 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 268-283 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/521/180 Copyright (c) 2023 Ali Mujahidin, Ahmad Faiz Khudlari Thoha

oai:ojs.pkp.sfu.ca:article/522 2023-03-19T23:32:58Z home:ART driver

Halal Value Chain in the Holding Business: The Experience of Islamic-based School (Pesantren) in Indonesia Kholilah, Kholilah Meylianingrum, Kurniawati Jaya, Tiara Juliana Jouti, Ahmed Tahiri Halal Value Chain Holding Company Islamic-based School (Pesantren) This study constitutes a novel concept that provides a complete analysis of the holding business at an Islamic-based school (Pesantren) and the halal value chain. The halal value chain provides a standard for sharia-compliant production, distribution, or consumption activities. This case study was based in Pesantren Al-Rifa’ie, addressed in Malang East Java Indonesia. This study collected data through interviews, contract data, SOP, financial statements, BMT reports, and observation. The data were analyzed using the heuristic case study. The results showed that the holding business at Pesantren Al-Rifa'ie was in the form of a cooperative since it combines business units. The cooperative has funding, financing, and BMT activities. BMT is profit-oriented through establishing business units. Business units supporting the halal value chain were husbandry, bus rentals, and One Pesantren One Product (OPOP) starting from the input, process, and output. This research strengthens the New Institutional Theory and provides insight into the need for technical requirements to establish the company holding in Pesantren. Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/522 10.22515/shirkah.v7i3.522 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 318-334 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/522/155 Copyright (c) 2022 Kholilah Kholilah, Kurniawati Meylianingrum, Tiara Juliana Jaya, Ahmed Tahiri Jouti

oai:ojs.pkp.sfu.ca:article/529 2023-03-19T23:32:58Z home:ART driver

You’ve Over the Line! Muslim Consumers are Resistant to Opposite Brand Values Faza, Firdan Thoriq Timur, Yan Putra Mutmainah, Lu'liyatul Rusgianto, Sulistya Religious Boycott Brand Hate Muslim Consumer-Brand Relationships The consumer's antagonistic behavior towards brands is hotly discussed because of the political issues it carries. However, factors affecting Muslim consumers to reject a product still requires more paucity of empirical evidence. The current study casts the light on antecedent factors that influence Muslim consumers to reject a product, and on a pattern between the reasons for refusal and the intention to boycott a brand. The online survey was able to reach 450 respondents from the Muslim community. This paper uses scenarios from confirmed cases of Muslim consumer boycotts against Unilever brands in Indonesia. Using the snowball-sampling technique, many of the respondents were from the educated young urban Muslim community. The model was tested using partial least squares-structural equation modeling (PLS-SEM). Moreover, the interaction moderation technique was applied to examine the effect of moderators on the structural model. The results showed that brand hate fully mediates all variables except symbolic incongruity. The results further revealed that brand hate is a construct with three first-order formative triggers (religious animosity, ideological incompatibility, and subjective norms). In addition, this study theoretically contributes to providing clear delineation that brand hate is a dichotomous concept consisting of the dimensions of intention to boycott (intention to incite, intention to avoid, and intention to punish). Universitas Islam Negeri Raden Mas Said Surakarta 2022-12-12 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/msword https://shirkah.or.id/new-ojs/index.php/home/article/view/529 10.22515/shirkah.v7i3.529 Shirkah: Journal of Economics and Business; Vol. 7 No. 3 (2022); 219-238 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/529/149 https://shirkah.or.id/new-ojs/index.php/home/article/view/529/256 Copyright (c) 2022 Firdan Thoriq Faza

oai:ojs.pkp.sfu.ca:article/531 2025-09-24T01:51:02Z home:ART driver

Factors Affecting Third-party Funds in Indonesian Sharia Banks: A Meta-analysis Indrarini, Rachma Febriyanti, Novi Meta analysis Third Party Funds Islamic Bank While Indonesia, with its substantial Muslim population, holds promise for the advancement of Islamic banks, the current reality reveals that the volume of third-party funds for these banks in the country trails significantly behind that of conventional banks. This study aims to determine the determinants of third-party funds in Indonesian Islamic banks. This quantitative study used meta-analysis. The data were derived from accredited national journals and were subsequently processed using OpenMEE. The findings of this study indicate a positive correlation between third-party funds and various variables, such as inflation, exchange rates, BI Rate, GDP, SBI, JCI, FDR, CAR, NPF, BOPO, profit sharing and bonuses, promotional costs, ROA, LDR, money supply, service offices, and total assets. The results of this study can serve as a reference for practitioners of Islamic banks when formulating policies pertaining to the increase in third-party funds. Universitas Islam Negeri Raden Mas Said Surakarta 2025-03-27 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/531 10.22515/shirkah.v10i2.531 Shirkah: Journal of Economics and Business; Vol. 10 No. 2 (2025); 182-197 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/531/270 Copyright (c) 2025 rachma indrarini http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/532 2023-09-06T03:13:48Z home:ART driver

Revisiting the Effect of Job Satisfaction and Organizational Culture on Employee Performance: The Mediating Role of Organizational Citizenship Behaviour Setiani, Setiani Siswanto, Siswanto Robithoh, Siti Employee Performance Job Satisfaction Organizational Culture Organizational Citizenship Behaviour Research on organizational citizenship behaviour is intriguing because it is often seen as an important asset to bring new perspectives and ideas to improve organizational performance and culture. However, the factors affecting OCB still need more empirical evidence. This study aimed to determine the effect of job satisfaction and organizational culture on employee performance with OCB as a moderating variable at P.T. Magnum Attack Indonesia. This study used a quantitative approach with a questionnaire survey of 89 respondents. The data analysis method uses SEM-PLS. The results showed that job satisfaction had no significant effect on employee performance and OCB. Organizational culture does not affect employee performance but shows a significant effect on OCB. OCB did not mediate the relationship between job satisfaction and employee performance, as well as organizational culture and employee performance. The research suggests that P.T. Magnum Attack Indonesia should enhance the Organizational Citizenship Behaviour (OCB) of individual employees by fostering a culture of care for colleagues, discipline in work, mutual respect, and assistance among co-workers. Consistently practicing OCB can lead to the development of a positive organizational culture. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/532 10.22515/shirkah.v8i2.532 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 125-142 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/532/169 Copyright (c) 2023 Setiani Setiani, Siswanto Siswanto, Siti Robithoh

oai:ojs.pkp.sfu.ca:article/537 2024-09-26T21:11:08Z home:ART driver

Financial Modelling of Metal and Mineral Mining Companies in Indonesia using Altman Z-scores Nengsih, Titin Agustin Altman Z-Score Ratio Financial Modelling Metal and Mineral Mining Companies Panel Data Regression Predictions about a company's financial condition related to bankruptcy are important information for interested parties, such as creditors, investors, government, auditors, and the company's internal management. This research models the financial condition of metal and mineral mining companies through the Altman Z-Score model and panel data regression analysis. This study focuses on a sample of nine companies involved in metal and mineral mining from 2017 to 2022. In this study, the Altman method was used to determine a company's health category using the Z-score standard. Panel Data Regression modelling showed that the fixed model was the best. The partial test results indicated that WCTA and RETA did not affect the Altman Z-score. However, when considering all the ratios simultaneously (WCTA, RETA, MVBV, and STA), they contribute to predicting a company's financial condition. These results highlight the importance of understanding the variables that influence a company's health and progress. Notably, the variables of WCTA, RETA, and STA play a crucial role in determining the Altman Z-score and contribute to our understanding of a company's financial condition. Universitas Islam Negeri Raden Mas Said Surakarta 2024-03-06 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/537 10.22515/shirkah.v9i2.537 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 216-229 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/537/217 Copyright (c) 2024 Titin Agustin Nengsih

oai:ojs.pkp.sfu.ca:article/538 2023-11-30T00:31:31Z home:ART driver

The US-China Trade War in Macroeconomic Studies of the Indonesian Sharia Stock Index Adrian, Muhammad Adi Rofiuddin, Mohammad VECM Macroeconomis ISSI Trade War A number of studies have been the witness of pros and cons about whether the US-China trade war affected the world’s macroeconomics. This study aims to analyze the effect of macroeconomic variables on the Indonesian Sharia Stock Index (ISSI) during the trade war period between the United States and China. The research’s assumption is delved from the occurrence of a trade war between two countries with the largest economic valuations in the world can disrupt the world economy including investment. The urgency of this research is to measure the impact of the trade war on the Indonesian sharia stock index which is one of the factors of economic growth. The analytical method used in this study is the Vector Error Correction Model (VECM) to examine the long-term and short-term impacts. The results of this study indicate that in the short term the BI Rate, FED Rate, USD Exchange Rate, CNY Exchange Rate, World Gold Price, World Oil Price, Exports, and Imports have no effect on the Indonesian Sharia Stock Index (ISSI). The long-term results show that the BI Rate, CNY Rate, World Gold Price, World Oil Price, and Imports have a negative effect on the Indonesian Sharia Stock Index (ISSI), while the FED Rate, USD Rate, and Exports have a positive effect on the Indonesian Sharia Stock Index (ISSI). Based on these results the government is expected to tighten fiscal and monetary policies so that in the future if something similar happens, the Indonesian Sharia Stock Index (ISSI) remains on the right track. Universitas Islam Negeri Raden Mas Said Surakarta 2023-06-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/538 10.22515/shirkah.v8i3.538 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 218-233 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/538/175 Copyright (c) 2023 MUHAMMAD ADI ADRIAN, Mohammad Rofiuddin

oai:ojs.pkp.sfu.ca:article/540 2023-06-20T09:25:21Z home:ART driver

Unpacking the Impact of Customer Perceived Value and Competitive Advantage on Customer Loyalty: The Mediating Role of Trust Basrowi, Basrowi Ali, Juhary Suryanto, Tulus costumer perceived value competitive advantage trust consumer loyalty New studies are needed to illuminate the factors that affect customer satisfaction when using sharia banking services in Indonesia. This is especially significant given the existing study gap regarding Indonesia's relatively low number of sharia bank customers, despite the country's predominantly Muslim population. Instead, many of them prefer to use conventional banks, highlighting the need for a deeper understanding of the reasons behind this trend. This study examined the impact of customer perceived value and competitive advantage on customer loyalty mediated by trust. This investigation employed a quantitative methodology to examine the relationship between consumers' perceived value, competitive advantage, trust, and customer loyalty. The participants of this study were selected from the customer of Bank Syariah Indonesia (BSI), and data were collected through a questionnaire. The sample size was 210, and the researchers utilized random sampling to select participants. To analyze the collected data, the researchers employed structural equation modeling (SEM) analysis. The study results indicate that perceived value, competitive advantage, and trust significantly impact customer loyalty. This study also shows the mediating role of trust in the relationship between variables. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-02 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/540 10.22515/shirkah.v8i1.540 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 60-77 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/540/163 Copyright (c) 2023 Muhammad Basrowi, Prof. Dr. Juhary Raja Ali, Prof. Dr. Tulus Suyanto

oai:ojs.pkp.sfu.ca:article/555 2023-11-30T00:31:31Z home:ART driver

Purchase Decision on Halal Products among Female Muslim: Evidence from Indonesia Sujono, Rusny Istiqomah Wiyandi, Wawan Wibowo, Febrian Wahyu Yunadi, Ahmad Kamal, Al Haq Wibowo, Ardy Salam, Abdul Halal Certificate Religiosity Product Quality Price Brand Halal Knowledge Purchasing Decisions So far, limited research has analyzed the factors influencing female's decisions to purchase halal products. The purpose of this study was to determine how religiosity, product quality, price, brand, and halal knowledge affect the decision-making process of Islamic female students when purchasing halal-certified products. The study employed quantitative research methods, employing a questionnaire distributed through Google Forms for data collection. The study's population comprised all female students at Pondok Pesantren Al Munawwir Yogyakarta Indonesia. The sampling technique employed the Slovin formula, resulting in a research sample of 91 respondents. Data analysis involved classical assumption tests, multiple linear regression, partial tests (t-tests), simultaneous tests (F-tests), and the determination coefficient (R²). The findings indicated that religiosity, price, and halal knowledge negatively influenced female's purchasing decisions for halal products. Conversely, product quality and brand positively influenced these decisions. The study highlights that consumers, especially female students, prioritize brands and product quality when deciding to purchase halal products. Consequently, producers of halal products need to prioritize and enhance product quality. Universitas Islam Negeri Raden Mas Said Surakarta 2023-08-11 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/555 10.22515/shirkah.v8i3.555 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 309-321 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/555/187 Copyright (c) 2023 Rusny Istiqomah Sujono, Wawan Wiyandi, Febrian Wahyu Wibowo

oai:ojs.pkp.sfu.ca:article/557 2023-09-06T03:13:48Z home:ART driver

Muslim Non-Cash Transaction Behavior: The Moderating Role of Religiosity Cahya, Chindy Chintya Umam, Khoirul Muslim Behavior Non-cash Transaction Religiosity Technology Acceptance Model Despite years of exploration, empirical evidence regarding the mediating role of religiosity in the relationship between non-cash interest and behavior is still lacking. This study analyzed the behavior related to the use of non-cash transactions by Muslim communities moderated by religiosity based on the TAM model. The sampling technique in this study used purposive sampling with a total of 438 respondents. The data in this study were analyzed using Partial Least Square Structural Equation Model (PLS-SEM) with Smart PLS 3.0. The results of this study reveal that religiosity can moderate the interest and behavior of using non-cash transactions. Besides that, the perceived ease of use and perceived usefulness have a significant positive effect on consumer behavior in using non-cash transactions, which are proxied by attitude and interest. These results indicate that the Muslim community is accepting and even supporting the development of technology in the payment system because technology brings convenience and benefits. As a result, players in the Islamic finance and halal market should pay close attention to the advancements in payment system technology to ensure the Muslim community prefers payment products on the Sharia market. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/557 10.22515/shirkah.v8i2.557 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 109-124 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/557/167 Copyright (c) 2023 Chindy Chintya Cahya, Khoirul Umam

oai:ojs.pkp.sfu.ca:article/563 2024-09-26T21:11:08Z home:ART driver

Factors Affecting Financial Stability of Sharia Banks in Indonesia Oktaviana, Ulfi Kartika Miranti, Titis Bank Ownership Financial Stability Sharia Banks in Indonesia To ensure the financial stability of Indonesian banks, especially Sharia banks, it is essential to focus on various factors and elements. This study investigates the endogenous and exogenous factors influencing the financial stability of Sharia banks in Indonesia. The study utilized data from the annual financial statements of Sharia banks in Indonesia spanning from 2010 to 2021. Panel data regression served as the analytical tool for the research. The findings indicate that the stability of Sharia commercial banks in Indonesia is influenced by both capital structure and credit risk. Financial leverage also affects sharia bank’s financial stability. While ownership distinguishes a bank in terms of organizational structure, it does not necessarily guarantee stability. Islamic commercial banks remain stable amid the COVID-19 pandemic, showing no significant impact on their overall stability. These findings will enhance bank understanding of the risks faced by banks and form the basis for new regulatory efforts to strengthen overall risk management, including liquidity risk and credit risk. Universitas Islam Negeri Raden Mas Said Surakarta 2024-03-15 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/563 10.22515/shirkah.v9i2.563 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 245-260 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/563/219 Copyright (c) 2024 Ulfi Kartika Oktaviana, Titis Miranti

oai:ojs.pkp.sfu.ca:article/566 2025-01-07T06:30:49Z home:ART driver

Empowering MSMEs: The Role of Mosques in Community Economic Development Rarasati, Indin Priyadi, Unggul Amil zakat Jogokaryan Mosque MSME Mosques hold significant potential in community development, particularly through the management of zakat, infaq, and sadaqah to empower Micro, Small, and Medium Enterprises (henceforth MSMEs). This study explores the role of Jogokariyan Mosque, a unique and famous mosque located  in Yogyakarta Indonesia, as a zakat administrator in supporting MSMEs empowerment. Utilizing primary data from in-depth interviews and content analysis, this case study highlights the mosque's initiatives, including kindness loans, business training, and market creation. The key informant, Mr. Jardi, an administrator of Jogokariyan Mosque, was selected through purposive sampling. The research adopts a triangulation method, involving pre-field analysis, data interpretation and classification, data reduction, and conclusion verification. The findings reveal that Jogokariyan Mosque, through its institution Lembaga Amil Zakat (LAZ), effectively collects, manages, and distributes zakat funds, providing essential support to MSMEs and enhancing community welfare. This research underscores the crucial role of mosques in economic development and community empowerment. Last but not least, this research offers valuable insights for policymakers, religious leaders, and community organizers on the potential of mosques to serve as central hubs for economic empowerment through zakat management. Universitas Islam Negeri Raden Mas Said Surakarta 2024-08-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/566 10.22515/shirkah.v9i3.566 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 397-410 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/566/229 Copyright (c) 2024 Indin Rarasati

oai:ojs.pkp.sfu.ca:article/575 2024-09-26T21:12:29Z home:ART driver

Traditional vs Modern Groceries from Islamic Perspective in Indonesia Bachmid, Sofyan Hidayat, Mokh Ulil Noval, Noval Modern Retail Traditional Retail Product Variants Purchasing Decision Sales Revenue 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. Universitas Islam Negeri Raden Mas Said Surakarta 2024-01-26 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/575 10.22515/shirkah.v9i1.575 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 103-121 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/575/197 https://shirkah.or.id/new-ojs/index.php/home/article/view/575/257 Copyright (c) 2024 Sofyan Bachmid, Mokh Ulil Hidayat, Noval Noval

oai:ojs.pkp.sfu.ca:article/584 2024-09-26T21:11:08Z home:ART driver

The Impact of Subjective Norm and Religiosity on Zakat Compliance of Muslim Entrepreneurs: The Mediating Role of Intention Ilmi, Nurul Ridlwan, Ahmad Ajib Fahrullah, A’rasy Timur, Yan Putra Alam, Md. Kausar Intention Muslim Entrepreneurs Religiosity Subjective Norms Zakat Compliance This study aims to identify the effect of Muslim entrepreneurs’ perceptions of zakat compliance mediated by the intention to pay zakat with subjective norms and religiosity. Quantitative methods were employed in this study. Questionnaires were administered to Muslim entrepreneurs, and we examined the information from 140 participants using the Smart-PLS 3 application. The findings indicate that the direct impact on religiosity yielded significant results, whereas the subjective norm was insignificant. Subsequently, the indirect effect, specifically on religiosity and subjective norms, demonstrated a significant impact between the two. In this study, the theory of planned behavior can be used as a determining factor to identify the impact of Muslim entrepreneurs on zakat compliance. This research suggests that Muslim entrepreneurs’ zakat compliance can signal to stakeholders the importance of using zakat payments optimally to achieve poverty reduction goals. Implementing this research not only maximizes institutional benefits in promoting zakat, but also broadens the perspective on zakat compliance among Muslim entrepreneurs based on the theory of planned behavior through intention. Universitas Islam Negeri Raden Mas Said Surakarta 2024-03-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/584 10.22515/shirkah.v9i2.584 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 230-244 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/584/218 https://shirkah.or.id/new-ojs/index.php/home/article/view/584/258 Copyright (c) 2024 Nurul Ilmi, Ahmad Ajib Ridlwan, A’rasy Fahrullah

oai:ojs.pkp.sfu.ca:article/592 2025-05-19T01:02:02Z home:ART driver

Determinants of Bank Capital in Indonesian Islamic Banks Widarjono, Agus Misanam, Munrokhim Bank Capital Bank-specific Variables Islamic Banks Bank capital is the linchpin for Islamic banks to steer clear insolvency risk. However, studies on Islamic bank capital in Indonesia remain scarce, with existing studies failing to distinguish between Islamic commercial banks and Islamic business units. Our research analyzes the determinants of Islamic bank capital using the latest data and splits them into Islamic commercial banks and Islamic business units. We used quarterly data from 31 Islamic banks from 2014 to 2020. The estimation method used in this study was panel data regression with unbalanced panel data. The results reveal that bank capital is positively affected by bank size, bank margin, and financing. Conversely, competition, inefficiency, and non-performing financing worsen Islamic bank capital. In addition, bank size and margin have a more pronounced impact on Islamic commercial banks than on Islamic business units. However, inefficiency and non-performing financing have a stronger impact on bank capital for Islamic business units than for Islamic commercial banks. These findings have several important implications, suggesting that Islamic bank capital can be boosted through increased margins and efficiency, while reducing impaired financing is crucial for capital accumulation. Universitas Islam Negeri Raden Mas Said Surakarta 2024-03-27 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/592 10.22515/shirkah.v9i3.592 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 290-302 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/592/222 Copyright (c) 2024 Agus Widarjono, Munrokhim Misanam http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/593 2023-09-06T03:13:48Z home:ART driver

Halal Food in Muslim Minority Tourism Destinations: Perspective of Toraja, Indonesia Takdir, Takdir Hamida, Ambas Halal Food Muslim Minority Tourism Destination Toraja Despite growing scholarly interest in halal tourism, there is still a gap on the study on the availability of halal food in areas where Muslims are not the dominant demographic. This has become an unresolved problem in the Indonesian tourism sector. Therefore, this current research examined the availability of halal food and the potential for developing halal cuisine in Tana Toraja,Indonesia. Data were collected through observation, interviews, and documentation from four informants consisting of the Tourism officers, the Indonesian Ulema Council, food sellers, and visitors. The data were analyzed through a process of data reduction, data presentation, and conclusion drawing. The findings revealed that Toraja, as a Muslim minority region, has limited access to halal food. Furthermore, the research identified a significant opportunity and potential for halal cuisine development through collaboration among stakeholders. Consequently, it is imperative that the government and tourism managers prioritize the availability of halal food in Tana Toraja. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-29 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/593 10.22515/shirkah.v8i2.593 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 161-171 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/593/171 Copyright (c) 2023 Takdir Ishak

oai:ojs.pkp.sfu.ca:article/597 2025-09-19T00:18:37Z home:ART driver

Purchase Decisions among Non-Muslim: The Role of Islamic Branding, Product Ingredients, and Islamic Social Environment Anggraeni, Erike Normasyhuri, Khavid Wisnu Kusuma, Tri Atmaja Pramudita Halal Products Islamic Branding Islamic Social Environment Product Ingredients Purchase Decisions The influence of acculturation on non-Muslims’ purchase decisions remains an unanswered question. Thus, the impact of the Islamic environment on non-Muslim purchase decisions requires further exploration. This study examines how Islamic branding and product ingredients affect purchase decisions and whether the Islamic social environment can strengthen or weaken this relationship for non-Muslim consumers. This study employed a quantitative approach using SmartPLS 3.0. Data were collected from 500 non-Muslim respondents using purposive sampling. The results indicate that both Islamic branding and product ingredients significantly influence non-Muslim purchase decisions, highlighting the growing importance of ethical and cultural considerations in consumer behavior. Moreover, the Islamic social environment plays a crucial role in moderating this relationship, further strengthening the impact of Islamic branding and product ingredients on purchase decisions. These findings suggest that non-Muslim consumers are not only responsive to the intrinsic qualities of products but are also influenced by the broader Islamic social context in which these products are marketed. This offers valuable insights for the government and companies in developing effective strategies to market Indonesian halal meat products to non-Muslim consumers globally. A deeper understanding of non-Muslim purchasing behavior can enhance their position in the halal industry. Universitas Islam Negeri Raden Mas Said Surakarta 2024-10-15 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/597 10.22515/shirkah.v10i1.597 Shirkah: Journal of Economics and Business; Vol. 10 No. 1 (2025); 114-129 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/597/242 https://shirkah.or.id/new-ojs/index.php/home/article/view/597/267 Copyright (c) 2025 Khavid Normasyhuri

oai:ojs.pkp.sfu.ca:article/601 2023-11-30T00:31:31Z home:ART driver

Customer Review, Influencer Endorsement, and Purchase Intention: The Moderating Role of Brand Image Iskamto, Dedi Rahmalia, Khaerunnisa Fauziah Brand Image Customer Review Influencer Endorsement Purchase Intention Investigating the increasing prominence of influencer endorsements and customer reviews represents a crucial and compelling area of research. Influencer endorsement and customer reviews can influence a customer's purchasing interest in a product. This study aims to examine the influence of consumer reviews and influencer endorsement on the purchase intention of Avoskin products, taking into account the role of brand image as a moderator. The study involved 385 skincare enthusiast respondents in Indonesia and used a questionnaire as the data collection instrument. Employing multiple linear regression, the results showed that consumer reviews and influencer endorsement have a positive and significant effect on the purchase intention of Avoskin products. The brand image also plays an important role as a moderator in the relationship between consumer reviews, influencer endorsement, and purchase intention. These findings provide advice to Avoskin to improve product and service quality to improve brand image, and to increase consumer purchase intention through influencer support and customer reviews. Universitas Islam Negeri Raden Mas Said Surakarta 2023-06-24 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/601 10.22515/shirkah.v8i3.601 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 234-251 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/601/178 Copyright (c) 2023 Dedi Iskamto, Khaerunnisa Fauziah Rahmalia

oai:ojs.pkp.sfu.ca:article/605 2023-11-30T00:31:31Z home:ART driver

Strategy Development of Halal Industry for an Improved Competitiveness of MSMEs: An Analytic Network Process Approach Marlina, Lina Joni, Joni Janwari, Yadi Analytic Network Process Halal Industry MSMEs Strategy Development So far, there have been limited studies examining the strategies to develop the halal industry and improve the competitiveness of MSMEs in East Priangan, a high-potential area in West Java, Indonesia. Thus, this research focuses on the development of the halal industry to enhance the competitiveness of MSMEs in the area. The study utilized the analytic network process (ANP) approach and a structured questionnaire to identify suitable strategies. Seven key respondents, including academics and practitioners, were selected based on their expertise. The analysis yielded three key criteria for strategies: (1) education for MSMEs, (2) integrated financing, and (3) an MSME database. The top priority strategies include strengthening human resource capacity, halal literacy, and financing support. The research provides recommendations for MSMEs and regulatory agencies to improve competitiveness, serving as a reference for future relevant studies. Universitas Islam Negeri Raden Mas Said Surakarta 2023-08-11 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/605 10.22515/shirkah.v8i3.605 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 284-298 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/605/181 https://shirkah.or.id/new-ojs/index.php/home/article/view/605/259 Copyright (c) 2023 Lina Marlina

oai:ojs.pkp.sfu.ca:article/606 2023-09-06T03:13:48Z home:ART driver

Cattle Fattening Program: The Effectiveness of Zakat Community Development Iswanto, Bambang Dalhudah, Iklimah Mursyid, Mursyid Anwar, Idhafiyyah Cattle Fattening Program Zakat Community Development Zakat Empowerment Despite many studies on productive Zakat, the focus on the effectiveness of mustahiq empowerment programs has been limited. This study looks at how effective the Zakat community development-based cattle fattening program is towards the empowerment of Zakat recipients. The study measures four indicators of program effectiveness: program target accuracy, program socialization, program objectives, and program monitoring. Data collection techniques include interviews, observation, and documentation. The study found that the program was good at targeting the right people, but it wasn't socialized enough. The program also fell short of its objectives because the recipients weren't making enough money to become donors themselves yet. However, the program was well-monitored, with regular check-ins to make sure it was on track. The study suggests that clearer standards are needed to increase the benefits received by Zakat recipients This study has practical implications for productive Zakat distribution policies, as clear benchmarks are required for implementing programs that increase Zakat recipients' benefits. Universitas Islam Negeri Raden Mas Said Surakarta 2023-05-03 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/606 10.22515/shirkah.v8i2.606 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 143-160 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/606/170 https://shirkah.or.id/new-ojs/index.php/home/article/view/606/260 Copyright (c) 2023 Bambang Iswanto, Iklimah Dalhudah, Mursyid Mursyid, Idhafiyyah Anwar

oai:ojs.pkp.sfu.ca:article/608 2025-05-19T01:15:26Z home:ART driver

Does Digitalization Have a Dampening Effect on Income Inequality? Evidence from OIC Countries Munandar, Aris Ardiansyah, Misnen Zulni, Dhiyaul Aulia Digitalization Income Inequality Wealth Inequality Income Gender Inequality OIC Countries The rapid advancement of digital technology has the capacity to create significant effects on income distribution by shaping the availability and quality of employment opportunities. As a result, it has the potential to either narrow or widen income inequality in society. In this paper, we attempt to test the effect of digitalization on income and wealth inequality. We use a multiproxy of digitalization from the International Telecommunication Union ICT database and comprehensive inequality proxy from the World Inequality Database consisting of 56 Organization of Islamic Cooperation member countries from 2010-2021 and estimate their relationship by performing a fixed-effect panel regression. Our finding reveals that digitalization can alleviate income and wealth inequality. Its narrowing effect also applies to income gender inequality. The decline in income inequality is associated with lower GDP per capita, higher net inflow of foreign direct investment, and greater political stability. Similarly, lower wealth inequality is linked to lower GDP per capita and improved political stability. In light of these results, we recommend that governments implement policies aimed at fostering technological advancements, such as infrastructure development to enhance internet and telecommunication coverage. Additionally, inclusive economic growth policies should be prioritized, along with efforts to attract foreign investment through business-friendly reforms and the promotion of political stability that is devoid of gender discrimination. Universitas Islam Negeri Raden Mas Said Surakarta 2024-05-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/608 10.22515/shirkah.v9i3.608 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 337-349 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/608/225 Copyright (c) 2024 Aris Munandar, Misnen Ardiansyah, Dhiyaul Aulia Zulni http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/609 2023-09-06T03:13:48Z home:ART driver

Corporate Governance and Its Relationship with the Working Capital Management in Europe Ahmed, Amanj Mohamed Ali, Muhammad Nawzad Hágen, István Corporate Governance Working Capital Management Non-Financial Firms This study aims to investigate the impact of corporate governance on working capital management, which has been relatively overlooked despite its significance on corporate performance. Using the Ordinary Least Square regression model, a model was developed to assess the relationship between dependent and independent variables. Secondary data from the annual reports of 42 non-financial firms listed on the Frankfort and Oslo stock exchanges from 2017 to 2021 were collected. The dependent variable, working capital management, is indicated by cash holding, while the independent variable, corporate governance, is measured through five proxies: board meeting, board remuneration, the board size, CEO remuneration, and CEO tenure. Leverage and firm size are involved as control variables. The findings revealed that board meetings, board remuneration, CEO remuneration, and CEO tenure exhibit a positive and significant relationship with working capital management. However, board size demonstrated a negative but insignificant relationship. Additionally, the study showed that leverage has a negative relationship, while firm size has a positive relationship with working capital management. In conclusion, the study suggests that future research should focus on the financial sector to conduct comparative analyses with other sectors. Universitas Islam Negeri Raden Mas Said Surakarta 2023-05-24 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/609 10.22515/shirkah.v8i2.609 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 202-217 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/609/176 Copyright (c) 2023 Amanj Mohamed Ahmed

oai:ojs.pkp.sfu.ca:article/610 2024-09-26T21:11:08Z home:ART driver

Exploring the Symbiotic Link: Co-Integration Analysis of the Egyptian Stock Exchange and International Equity Markets Azrak, Tawfik Alaeddin, Omar Co-Integration Analysis Egyptian Stock Exchange International Equity Market Symbiotic Link The present study addresses the limited discussion on the equity market in the Middle East and North African region (MENA) concerning the spill-over effects from international equity markets. By employing time series techniques, we examine the integration and causality of interdependencies among five major stock exchange markets worldwide: USA, UK, Malaysia, Hong Kong, and Japan, along with their relationship with the Egypt Stock Exchange market. Spanning from March 1998 to January 2018, our study uniquely considers the interaction between developed and developing countries. Our co-integration findings reveal the limitations of international diversification for investors with long holding periods. We highlight the importance of seeking non-co-integrated markets, such as Malaysia and Hong Kong, which were found to be insignificant in this study, for investors aiming to diversify their portfolios and explore interesting long and short-term investment opportunities. Universitas Islam Negeri Raden Mas Said Surakarta 2024-01-29 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/610 10.22515/shirkah.v9i2.610 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 197-215 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/610/216 Copyright (c) 2024 Tawfik Azrak, Omar Alaeddin

oai:ojs.pkp.sfu.ca:article/615 2023-06-20T09:25:21Z home:ART driver

Generation Z’s Brand Love for Skincare Products: Do Religious Beliefs Matter? Waluyo, Waluyo Qurniawati, Rina Sari Nurohman, Yulfan Arif Brand Identity Brand Love Brand Loyalty e-WOM Religious Beliefs To date, there has been no prior research examining the relationship between brand love as a determinant of brand loyalty and e-WOM specifically for halal skincare products. This study investigates how Muslim Generation Z might love a brand because of their religious beliefs and brand identity, resulting in brand loyalty and e-WOM that benefits the company. The questionnaire for this study was completed online by 120 participants from three cities in Central Java, Indonesia, namely Semarang, Salatiga, and Surakarta. The model was tested using PLS-SEM. The results of the research revealed that religious beliefs and brand identification affected brand love, whereas brand love affected brand loyalty and e-WOM. From this research, it can be seen that branding cannot be separated from faith. Muslims like brands that reflect their religious values and allow them to identify as Muslims. Therefore, marketers must have a comprehensive understanding of the halal concept in the manufacturing and production processes of halal skincare. Universitas Islam Negeri Raden Mas Said Surakarta 2023-04-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/615 10.22515/shirkah.v8i1.615 Shirkah: Journal of Economics and Business; Vol. 8 No. 1 (2023); 95-108 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/615/166 Copyright (c) 2023 Waluyo Waluyo, Rina Sari Qurniawati, Yulfan Arif Nurohman

oai:ojs.pkp.sfu.ca:article/618 2025-09-19T00:18:37Z home:ART driver

Does Digital Technology Boost Intention to Pay Zakat? Integration of UTAUT 2 and Initial Trust Jaenudin, M Timur, Yan Putra Basit, Abdul Ratnasari, Ririn Tri Setiawati, Ririt Iriani Sri Digital ZIS Payments Initial Trust Model Intention to Donate UTAUT 2 Digital technology is key to increasing donor intentions to contribute to Zakat, Infaq, and Sadaqah (ZIS). This study identified the factors influencing and dominating donors in making digital payments for ZIS. Combining UTAUT 2 and the initial trust model, this study analyzed data from an online survey involving 103 donors from various provinces in Indonesia. The study includes donors who have paid or intend to pay the ZIS digitally. The results of the analysis using the partial least squares structural equation model (PLS-SEM) indicated that performance expectancy had no significant effect on initial trust and behavioral intention. Likewise, facilitating conditions did not significantly affect initial trust. On the other hand, hedonic motivation positively and significantly affects initial trust and behavioral intention, while initial trust affects behavioral intention. This study suggests that zakat institutions must ensure that their systems offer user satisfaction, initial trust, and facilitating conditions, such as reliable networks and security. Universitas Islam Negeri Raden Mas Said Surakarta 2024-10-14 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/618 10.22515/shirkah.v10i1.618 Shirkah: Journal of Economics and Business; Vol. 10 No. 1 (2025); 97-113 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/618/240 Copyright (c) 2025 M. Jaenudin, Yan Putra Timur, Abdul Basit, Ririn Tri Ratnasari

oai:ojs.pkp.sfu.ca:article/624 2023-09-06T03:13:48Z home:ART driver

Revitalizing the Livelihoods of Kahayan River Communities: Exploring the Determinants of Income Increase Elia, Andrie Basrowi, Basrowi Digital Marketing Entrepreneurial interest Financial Capital Population Income Identifying strategies for increasing the income of densely populated communities, particularly concerning the COVID-19 pandemic, remains a challenge. Specifically, this study aims to investigate the influence of entrepreneurial interest, digital marketing, and financial capital on income generation in Pahandut Village. The study adopts a quantitative research methodology based on a sociological-economic approach. Data analysis involves the use of multiple linear regression analysis. A random sampling technique was utilized to select 152 respondents from the entire population of Pahandut village. The findings reveal that entrepreneurial interest, digital marketing, and financial capital have a positive and significant influence on income generation during the Covid-19 pandemic. Therefore, it can be concluded that greater entrepreneurial interest, utilization of digital marketing, and financial capital will increase income for Kahayan River bank community during the Covid-19 pandemic era. Therefore, to adapt to the evolving business landscape, it is crucial to provide support for business literacy aimed at both starting and expanding a business. Universitas Islam Negeri Raden Mas Said Surakarta 2023-05-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/624 10.22515/shirkah.v8i2.624 Shirkah: Journal of Economics and Business; Vol. 8 No. 2 (2023); 189-201 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/624/174 Copyright (c) 2023 Andrie Elia, Basrowi Basrowi

oai:ojs.pkp.sfu.ca:article/628 2025-05-19T01:12:09Z home:ART driver

Zakat Compliance: The Interplay of Religiosity, Awareness, and Knowledge Firdaus, Mulyadi Suseno, Bambang Dwi Sari, Gema Ika Fauzi, Muhammad Zakat Compliance Zakat Awareness Knowledge of zakat Religiosity This study examined the influence of religiosity and knowledge of zakat on zakat awareness. It also investigates the influence of religiosity, knowledge of zakat, and zakat awareness on zakat compliance. This study involved 338 NPWZ owners who were registered as muzakki at the LPZ and lived in Serang, Banten province Indonesia. Proportional random sampling was used for respondent selection. This study used a variant-based structural equation test using PLS-SEM. The results indicate that religiosity positively influences zakat awareness and that knowledge of zakat also has a positive influence on zakat awareness. Furthermore, religiosity positively influenced zakat compliance, and knowledge of zakat enhanced zakat compliance. Higher levels of zakat awareness were correlated with increased zakat compliance. It's important to understand how much eligible Muslims actually follow through with giving zakat. This knowledge is key for gathering funds to help fight poverty and support community growth. Universitas Islam Negeri Raden Mas Said Surakarta 2024-04-08 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/628 10.22515/shirkah.v9i3.628 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 326-336 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/628/224 Copyright (c) 2024 Bambang Dwi Suseno http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/629 2023-11-30T00:31:31Z home:ART driver

The Relationships between Current Ratio, Firm Age, Good Corporate Governance, and Corporate Social Responsibility: The Moderating Effects of Firm Size Digdowiseiso, Kumba Corporate Social Responsibility (CSR) Current Ratio (CR) Firm Age (FA) Good Corporate Governance (GCG) Firm Size Few studies have explored how firm size moderates the effect of the current ratio, firm age, and good corporate governance on corporate social responsibility. This research examined the effect of current ratio, firm age, and good corporate governance on corporate social responsibility. It explored the moderating effects of firm size on the relationships between current ratio, firm age, and good corporate governance on corporate social responsibility among mining sector companies listed on the Indonesia Stock Exchange from 2017 to 2021. Purposive sampling was used to select 17 different mining firms that met the study's criteria. By applying a moderated regression analysis, the results indicated a negative and statistically insignificant relationship between the current ratio and corporate social responsibility. Corporate social responsibility was positively affected by the maturity of the company and by its commitment to ethical business practices. Meanwhile, there was an inverse relationship between firm size and corporate social responsibility. Furthermore, firm size did not affect the relationship between the current ratio and corporate social responsibility, nor the relationship between firm age and corporate social responsibility. This study revealed that firm size weakened the link between good corporate governance and corporate social responsibility. Universitas Islam Negeri Raden Mas Said Surakarta 2023-08-09 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/629 10.22515/shirkah.v8i3.629 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 252-267 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/629/179 Copyright (c) 2023 Kumba Digdowiseiso

oai:ojs.pkp.sfu.ca:article/630 2024-09-26T21:12:29Z home:ART driver

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 Nurwulandari, Andini Wahid, Ririan Safiadi Debt To Equity Ratio (DER) Return On Asset (ROA) Current Ratio Total Asset Turn Over (TATO) Nilai Intrinsik. 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. Universitas Islam Negeri Raden Mas Said Surakarta 2023-09-06 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/630 10.22515/shirkah.v9i1.630 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 1-16 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/630/184 Copyright (c) 2024 Andini Nurwulandari

oai:ojs.pkp.sfu.ca:article/638 2025-09-19T00:18:37Z home:ART driver

Abusive Leadership and Organizational Citizenship Behavior among Sharia Bank Employees: The Moderating Role of Handarbeni Cahyono, Edi Widarjo, Wahyu Fenitra, Rakotoarisoa Maminirina Abusive leadership Organizational Citizenship Behavior Sense of belonging Handarbeni Sharia Bank The unresolved link between abusive leadership and Organizational Citizenship Behavior (OCB) can be clarified through handarbeni, an attitude of empathy and a sense of belonging to one's organization. This study aims to explain the relationship between abusive leadership and employees' OCB while proposing an alternative model that conceptualizes handarbeni as a moderating variable to clarify this connection. The study involved 250 employees from Sharia Banks in Surakarta, Indonesia, selected through purposive sampling. Data were collected using both direct and online questionnaires through Google Forms. Multiple linear regression analysis was employed to examine the impact of independent variables on dependent variables, while Moderated Regression Analysis (MRA) was utilized to assess the moderating effect using SPSS version 26 software. This study revealed a negative and significant correlation between abusive leadership and employees' OCB. Additionally, the study found that handarbeni moderated the relationship between abusive leadership and employees' OCB. The findings indicate that employees with varying levels of a sense of belonging exhibited different behavioral patterns when subjected to abusive treatment from their superiors. The results suggest that leaders must minimize abusive behavior to enhance employees' OCB. Furthermore, company leaders should provide stimuli to foster a strong sense of handarbeni among their employees. Universitas Islam Negeri Raden Mas Said Surakarta 2024-12-21 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/pdf application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/638 10.22515/shirkah.v10i1.638 Shirkah: Journal of Economics and Business; Vol. 10 No. 1 (2025); 145-159 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/638/247 https://shirkah.or.id/new-ojs/index.php/home/article/view/638/261 https://shirkah.or.id/new-ojs/index.php/home/article/view/638/268 Copyright (c) 2024 WAHYU WIDARJO, Rakotoarisoa Maminirina Fenitra http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/643 2024-09-26T21:12:29Z home:ART driver

A Decade of Research on Intellectual Capital in Indonesia: Systematic Literature Review Kumalasari, Yuliana Aryani, Y. Anni Financial Performance Intellectual Capital Systematic Literature Review 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. Universitas Islam Negeri Raden Mas Said Surakarta 2023-11-13 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/643 10.22515/shirkah.v9i1.643 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 49-73 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/643/189 Copyright (c) 2023 yulia ana kumalasari

oai:ojs.pkp.sfu.ca:article/648 2023-11-30T00:31:31Z home:ART driver

Navigating the Nexus: Exploring the Relationship between Intellectual Capital, Financial Performance, and Firm Value Surya, Andi Intellectual Capital Financial Performance Firm Value While previous study has drawn attention to the relationship between intellectual capital, financial performance, and firm value, there is still room for empirical research into the role of mediating factor between them. This research aims to determine the role of intellectual capital and financial performance in improving the firm value of the manufacturing companies listed on the Indonesia Stock Exchange. For this study, we collected financial reports from seven manufacturing companies over five years from 2017 to 2021. We employed a quantitative method, specifically path analysis using linear regression analysis, to test our hypotheses. The results demonstrate that there is no effect of intellectual capital on both financial performance and firm value, and no mediating effect exists either. However, the effect of company performance on firm value was established in the study. The research results create a chasm, suggesting three variables to think about when making investment decisions. Universitas Islam Negeri Raden Mas Said Surakarta 2023-09-06 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/648 10.22515/shirkah.v8i3.648 Shirkah: Journal of Economics and Business; Vol. 8 No. 3 (2023); 299-308 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/648/183 Copyright (c) 2023 Andi Surya

oai:ojs.pkp.sfu.ca:article/653 2025-05-19T01:06:48Z home:ART driver

The Effect of Mobile Shopping Service Quality on Customer Satisfaction and Customer Loyalty: A Case of Bukalapak in Indonesia Aisy, Fadhilah Rahadatul Prasetio, Adhi M-commerce E-commerce Mobile Shopping Service Quality Customer Loyalty Customer Satisfaction Bukalapak's position as the fifth-ranked e-commerce platform suggests a decrease in the number of visitors, which may be attributed to factors such as customer satisfaction. To address this, it is crucial to focus on mobile shopping service quality, customer satisfaction, and customer loyalty to retain and attract more users. This study aims to examine the effect of mobile shopping service quality on customer satisfaction and loyalty among Bukalapak users in Indonesia. The research employed a quantitative approach, utilizing a causal research design. Data was collected through questionnaires distributed to at least 400 respondents who have used or are currently using the Bukalapak. The data was analyzed using Structural Equation Modeling (SEM) in SPSS 29 as well as the AMOS 26 program. The analysis reveals that mobile shopping service quality has a significant and positive effect on customer satisfaction. Furthermore, customer satisfaction significantly affects customer loyalty. However, the effect of mobile shopping service quality on customer loyalty is positive but not significant. Factors such as efficiency, fulfillment, responsiveness, and contact demonstrate a significant and positive relationship with both customer satisfaction and loyalty. Universitas Islam Negeri Raden Mas Said Surakarta 2024-04-03 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/653 10.22515/shirkah.v9i3.653 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 303-325 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/653/223 Copyright (c) 2024 Fadhilah Rahadatul Aisy, Adhi Prasetio http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/657 2025-05-31T13:29:10Z home:ART driver

Unlocking MSME Performance: The Interplay of Financial Literacy, Financial Inclusion, and Financial Technology Lending with Venture Capital Mediation Hasanudin, Hasanudin Panigfat, Fahrudin MSME Performance Financial Literacy Financial Inclusion Fintech Lending Business Capital Studying the dynamic relationship among financial literacy, financial inclusion, fintech lending, and business capital mediation in the context of MSME performance is intriguing due to the intricate interconnections between these variables. This paper sought to assess the effect of financial literacy, financial inclusion, and fintech lending on the MSME performance in North Maluku Province, Sula Islands Regency, Sanana District, Indonesia. This research employed business capital as the mediating variable. Using a structural equation modelling, this study indicates that financial literacy, financial inclusion, and fintech lending have a positive and significant effect on the performance of micro, small, and medium enterprises. The presence of business capital can serve as a mediating factor in how financial literacy, financial inclusion, and fintech lending affect the performance of micro, small, and medium enterprises. Universitas Islam Negeri Raden Mas Said Surakarta 2023-11-29 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/657 10.22515/shirkah.v9i2.657 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 169-180 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/657/214 Copyright (c) 2023 Hasanudin Hasanudin, Fahrudin Panigfat http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/664 2024-09-26T21:12:29Z home:ART driver

Strategic Performance Dynamics: Elucidating the Effect of Competitive and Growth Strategies on Companies Reny W.A., Armalia Competitive Strategy Growth Strategy Company Strategic Performance 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. Universitas Islam Negeri Raden Mas Said Surakarta 2023-10-22 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/664 10.22515/shirkah.v9i1.664 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 33-48 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/664/188 Copyright (c) 2023 Armalya Reni W.A.

oai:ojs.pkp.sfu.ca:article/667 2024-09-26T21:12:29Z home:ART driver

A Legal Perspective on the Antecedents of Consumer Protection in Digital Financial Services Wardhani, Novea Elysa Consumer Awareness Consumer Protection Data Privacy Regulatory Landscape Technology Integration 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. Universitas Islam Negeri Raden Mas Said Surakarta 2023-10-22 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/667 10.22515/shirkah.v9i1.667 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 17-32 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/667/185 Copyright (c) 2023 Novea Elysa Wardhani

oai:ojs.pkp.sfu.ca:article/668 2024-09-26T21:12:29Z home:ART driver

The Influence of Tourism Industry and Tourism Supply Chain on Tourism Performance Mulyani, Sri Tourism Industry Tourism Supply Chain Tourism Performance Tourism Stakeholders 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. Universitas Islam Negeri Raden Mas Said Surakarta 2023-11-26 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/668 10.22515/shirkah.v9i1.668 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 74-89 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/668/190 Copyright (c) 2023 Sri Mulyani

oai:ojs.pkp.sfu.ca:article/670 2025-09-19T00:18:37Z home:ART driver

Impact of Islamic Marketing Strategies on Firm Performance: Evidence from Jaiz Bank, Plc. Nigeria Mustapha, Ismaila Yusuf AbdulQuadri, Abdulazeez Olamide Dividend Yields Earnings Per Share Firm Performance Islamic Marketing Strategies Return on Assets The global business landscape has recently observed a notable increase in the adoption of specialized marketing strategies tailored to align with cultural, religious, and ethical principles. One prominent example of such a strategy is Islamic marketing, which caters to Muslim consumers' preferences and needs while upholding Islamic finance tenets. This study investigates the impact of Islamic marketing strategies on firm performance, focusing on Jaiz Bank, Nigeria's leading non-interest bank. Using a quantitative approach, this study analyzed secondary data from annual reports over a ten-year period (2012–2021) and apply linear regression to examine the relationship between Islamic marketing practices and key financial metrics: return on assets (ROA), dividend yields, and earnings per share (EPS). Results reveal a statistically significant impact of Islamic marketing on EPS, while its influence on dividend yields is limited, and its effect on ROA is not statistically significant. These findings suggest that while Islamic marketing strategies can enhance certain financial outcomes, they may require refinement or supplementation to drive comprehensive firm performance. This study contributes to the emerging field of Islamic marketing by offering empirical insights into its financial impacts, with implications for strategic development in Islamic financial institutions. Universitas Islam Negeri Raden Mas Said Surakarta 2024-11-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/670 10.22515/shirkah.v10i1.670 Shirkah: Journal of Economics and Business; Vol. 10 No. 1 (2025); 130-144 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/670/246 Copyright (c) 2025 Ismaila Yusuf Mustapha, Abdulazeez Olamide AbdulQuadri

oai:ojs.pkp.sfu.ca:article/671 2025-05-19T02:58:12Z home:ART driver

The Impact of Innovation and Government Intervention on the Performance of Micro, Small and Medium Enterprises Miar, Miar Government Intervention Innovation Small and Medium Enterprises (MSMEs) During the COVID-19 pandemic, Micro, Small and Medium Enterprises (MSMEs) experienced a decline in performance due to low product demand. Therefore, various efforts need to be undertaken to enhance MSMEs' performance in Indonesia. Addressing this issue, this research aims to examine the influence of innovation and government intervention in improving the performance of SMEs in Indonesia. The study employs a quantitative approach with a population of MSME actors in Central Kalimantan, a province of Indonesia. Through proportional random sampling, 356 SME operators were identified as respondents for this study. Data were collected using a survey method and analyzed using simple and multiple linear regression. The results indicate that innovation and government intervention have a positive and significant impact on improving MSMEs' performance both partially and simultaneously. Therefore, this research implies that the more MSMEs engage in innovation and with government involvement in efforts to support MSME development, the greater the opportunity to enhance MSME performance in Indonesia. Universitas Islam Negeri Raden Mas Said Surakarta 2023-11-26 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/671 10.22515/shirkah.v9i2.671 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 154-168 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/671/213 Copyright (c) 2023 Miar Miar http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/672 2024-09-26T21:12:29Z home:ART driver

The Role of Trust and Engagement in Organizational Citizenship Behavior of Chemical Manufacturing Industry in Indonesia Nuryanto, Uli Wildan Pratiwi, Ika Chemical Manufacturing Industry Engagement Organizational Citizenship Behavior Trust 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. Universitas Islam Negeri Raden Mas Said Surakarta 2024-01-24 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/672 10.22515/shirkah.v9i1.672 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 90-102 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/672/193 Copyright (c) 2024 Uli Wildan Nuryanto

oai:ojs.pkp.sfu.ca:article/673 2025-09-24T01:51:02Z home:ART driver

Factors Influencing Customer Satisfaction with Halal Cosmetics: An Online Purchasing Study of Generation Z Muslim Women Fianto, Bayu Arie Ulfa, Bena Mutiara Dwi Rahmadany, Zhahirah Adriana Customer Satisfaction Customer Loyalty Generation Z Halal Cosmetics Online Purchasing Customer loyalty in the beauty product sector, particularly for halal cosmetics, has been underexplored despite its importance in marketing research. This study explores the determinants of customer satisfaction and loyalty towards halal cosmetics in Indonesia. Data were collected from 215 Generation Z Muslim women who have made multiple purchases from the official online store of a halal cosmetic brand through an online questionnaire. The data were further analysed by employing Structural Equation Modelling-Partial Least Square (SEM-PLS). The results showed that overall quality and perceived value significantly influence customer satisfaction, which in turn affects loyalty. However, perceived risk did not significantly impact satisfaction. It was further revealed that customer satisfaction has a significant influence on the customer loyalty to halal cosmetics. These findings highlight the need for brands to consistently deliver high-quality products and enhance perceived value to foster lasting customer relationships. Given Generation Z's potential as customers but known brand-switching tendencies, this study offers insights into their loyalty and satisfaction when purchasing halal cosmetics online. Strategic emphasis on satisfaction-building efforts can ultimately strengthen brand loyalty among Generation Z consumers in the competitive halal cosmetics market. Hence, understanding the factors that drive customer satisfaction and loyalty in online purchases is essential for halal cosmetic companies to develop effective retail strategies. Universitas Islam Negeri Raden Mas Said Surakarta 2025-05-23 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/673 10.22515/shirkah.v10i2.673 Shirkah: Journal of Economics and Business; Vol. 10 No. 2 (2025); 213-231 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/673/274 Copyright (c) 2025 Bayu Arie Fianto, Bena Mutiara Dwi Ulfa http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/675 2024-09-26T21:12:29Z home:ART driver

Perceptions and Knowledge of Sharia Principles in Islamic Investment: Perspective of Muhammadiyah Community Ragil, Bambang Hadiyati, Ernani Suswati, Endang Sadayi, Delila Putri Financial Product Investment Islamic Investment Muhammadiyah Community Perception and Knowledge of Sharia Principles This study aims to analyze the perception and knowledge of the Muhammadiyah community - one of the largest religious organizations in Indonesia - towards Sharia principles in investing in Islamic financial products. Using a qualitative approach with Qualitative Data Analysis Software (Q-DAS), data were gathered through in-depth interviews and participatory observations with members of the Muhammadiyah community. The results indicate that the participants have a significant awareness of Sharia principles. They acknowledge the prohibition of usury and the importance of avoiding investments in industries deemed haram according to religious teachings. Participants understood Sharia principles well and used them as guidelines for making investment decisions. However, the study also revealed that the Muhammadiyah community's knowledge of Islamic financial products requires improvement. There is a need for enhanced understanding of the concepts, features, benefits, and risks associated with Islamic financial products. Factors such as access to information, education, previous experience, and religious beliefs influence people's perception and knowledge in this area. The study concludes that while the Muhammadiyah community is highly aware of Sharia principles in investing, a deeper knowledge and broader understanding of Islamic financial products are essential. Universitas Islam Negeri Raden Mas Said Surakarta 2024-08-07 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/675 10.22515/shirkah.v9i1.675 Shirkah: Journal of Economics and Business; Vol. 9 No. 1 (2024); 122-137 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/675/210 Copyright (c) 2024 Bambang Ragil, Ernani Hadiyati, Endang Suswati, Delila Putri Sadayi

oai:ojs.pkp.sfu.ca:article/682 2025-11-24T17:05:20Z home:ART driver

Navigating Faith and Finance: The Role of Islamic Literacy and Scepticism in Shaping Cryptocurrency Investment Intention Hasyim, Fuad Ratnasari, Ririn Tri Herianingrum, Sri Ramly, Arroyan Musthofa , Wakhid Cryptocurrency Faith and Finance Islamic Literacy Scepticism Despite the rapid global adoption of cryptocurrencies, the lack of a unified Sharia ruling creates profound ethical uncertainty for faith-conscious investors. The present study analyses how investors integrate spiritual considerations and the complexities of Islamic Finance to formulate investment intentions in cryptocurrencies. Building on the Decomposed Theory of Planned Behaviour (DTPB), the model incorporates Islamic Financial Literacy and Sharia Scepticism. Shariah Scepticism and Islamic Financial Literacy reflect the Islamic value-embedded attitude towards finance and investment. For this study, the authors collected and analysed survey data from Java’s urban areas' 213 Muslims using PLS-SEM. Results demonstrate that people’s investment intentions are shaped by the compatibility of values, ease of use, and perceived usefulness of the investment. Financial Literacy in Islam bolsters confidence in Shariah-compliant digital assets, and Shariah Scepticism raises theological and ethical considerations. Despite the limited impact of perceived behavioural control, subjective norms exerted the most significant influence on behavioural intentions. This study adds to the Islamic behavioural finance literature the first faith-based model to explain investment intentions in cryptocurrencies within Muslim populations. Universitas Islam Negeri Raden Mas Said Surakarta 2025-11-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/682 10.22515/shirkah.v10i3.682 Shirkah: Journal of Economics and Business; Vol. 10 No. 3 (2025); 368-387 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/682/284 Copyright (c) 2025 Fuad Hasyim, Sri Herianingrum http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/687 2025-09-19T00:18:37Z home:ART driver

The Role of Green Human Resource Management on Employee Behavior and Corporate Environmental Performance in Indonesian Sharia Banks Susanto, Rosya Mawaddah Siswanto, Siswanto Rahayu, Yayuk Sri Environmentally Friendly Behavior Green Human resource Management Green Organizational Culture Sharia Banking Sustainable Environmental Performance The growing number of companies focusing on environmental preservation and the limited literature on green human resource management in the Islamic banking industry make this an intriguing topic for deeper research. This study explored the impact of environmental green human resource management on environmental engagement and corporate environmental performance in the Sharia banking industry. This investigation also explores the mediating effect of Green Organizational Culture on the relationship between Green Human Resource Management and both environmental engagement and corporate environmental performance. Using quantitative methods, Smart-PLS analysis was used to perform structural equation modeling (SEM). A total of 116 data respondents were selected using random sampling from Sharia banking employees in East Java, Indonesia. The results showed that Green Organizational Culture has a positive impact on environmental engagement and corporate environmental performance. Green Organizational Culture fully mediates the impact of Green Human Resource Management on environmental engagement and corporate environmental performance. The implications of this study suggest that companies should embed environmentally friendly values into their vision and mission and cultivate an organizational culture that embodies these values. Universitas Islam Negeri Raden Mas Said Surakarta 2024-09-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document https://shirkah.or.id/new-ojs/index.php/home/article/view/687 10.22515/shirkah.v10i1.687 Shirkah: Journal of Economics and Business; Vol. 10 No. 1 (2025); 42-61 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/687/243 https://shirkah.or.id/new-ojs/index.php/home/article/view/687/262 Copyright (c) 2025 Rosya Mawaddah Susanto Siswanto Yayuk Sri Rahayu

oai:ojs.pkp.sfu.ca:article/688 2024-09-26T21:11:08Z home:ART driver

Corporate Governance toward 5.0: Insights from State-Owned Enterprises in Indonesia Hardianto, Ade Manggala Nursansiwi, Dwi Arini Board Education Level Board Tenure Ratio of a Board of Independent Directors Financial Performance. Existing research separately examines factors like qualification, tenure, and independence in relation to financial performance, overlooking the potential combined or interactive effects. This research intends to determine the role of the board of directors in addressing future challenges encountered by Indonesian state-owned enterprises. The research methodology involves quantitatively correlating independent and dependent variables, with or without variable control, utilizing nine financial ratios to assess firm conditions. The study utilized secondary data from financial statements and annual disclosures of Indonesian state enterprises from 2009 to 2016. The findings indicated that firstly, the degree, whether with or without control variables, is associated with Return on Asset and Fixed Asset Turnover. Secondly, board tenure, with or without control variables, does not exhibit a correlation with financial performance. Thirdly, the size of the independent board of directors, with control variables, does not correlate with financial performance, whereas without control variables, it is correlated with Net Profit Margin and Cash Ratio. This study introduces a new concept of board performance to predict bankruptcy indicators in companies, considering their Return on Assets (ROA) and Fixed Asset Turnover. Universitas Islam Negeri Raden Mas Said Surakarta 2024-01-25 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf application/msword https://shirkah.or.id/new-ojs/index.php/home/article/view/688 10.22515/shirkah.v9i2.688 Shirkah: Journal of Economics and Business; Vol. 9 No. 2 (2024); 181-196 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/688/215 https://shirkah.or.id/new-ojs/index.php/home/article/view/688/263 Copyright (c) 2024 Ade Manggala Hardianto, Raden Irna Afriani, Rita Kartika

oai:ojs.pkp.sfu.ca:article/710 2025-05-19T02:30:21Z home:ART driver

Identifying Key Determinants of Islamic Customer Perceived Value: A Mixed-Method Study Rahayu, Yayuk Sri Fitriyah, Fitriyah Wardana, Guntur Kusuma Islamic Customer Perceived Value Islamic Marketing Muslim Consumers The concept of customer perceived value is crucial for businesses to understand consumer behavior and gain a competitive edge; however, research on Muslim consumers remains scarce. This study seeks to identify the indicators and factors that shape Islamic customer perceived value, particularly within tertiary education institutions. A mixed-methods approach was employed, beginning with qualitative research using focus group discussions and interviews, followed by quantitative analysis through principal component analysis. The focus groups included students, lecturers, and experts, while 118 respondents completed the questionnaires. The findings uncovered 21 indicators and 6 key factors, namely: Islamic academic standards, Islamic attitudes, Islamic performance, Islamic physical attributes, Islamic organizational values, and Halal food and beverage offerings. These results advance the understanding of Islamic marketing and provide valuable insights for universities when formulating marketing strategies aligned with Islamic principles. Universitas Islam Negeri Raden Mas Said Surakarta 2024-10-21 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/710 10.22515/shirkah.v9i3.710 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 411-425 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/710/245 Copyright (c) 2024 Yayuk Sri Rahayu, Fitriyah Fitriyah, Guntur Kusuma Wardana http://creativecommons.org/licenses/by-nc/4.0

oai:ojs.pkp.sfu.ca:article/716 2025-05-19T02:20:16Z home:ART driver

Maslahah Mursalah: A Substantial Effort to Overcome Income and Wealth Inequality in Indonesia Khoir, Tholkhatul Sulaiman, Eman Income and Wealth Inequality Maṣlaḥah Mursalah Government Policy on Inequality Income and wealth inequality in Indonesia persists despite efforts by central and local governments to address it. maslahah mursalah provides a strong theoretical foundation for creating policies that are both religious and highly beneficial. This study aims to explain the history of using maslahah mursalahin income and wealth policies, provide evidence of income and wealth inequality in Indonesia, and explore the potential of using maslahah mursalah to address this inequality. This study examines two key facts: the history of maslahah mursalah's policies on income and wealth, and income and wealth inequality in Indonesia. They were obtained from Arabic usul al-fiqhliterature and the analysis of the Gini ratio and palm index. The data were compared to determine the most urgent policy needs and thepossibility of using maslahah mursalah as the basis. This study found that maslahah mursalahhas been widely used in income and wealth distribution policies. Since income and wealth inequality in Indonesia still exists and continues to increase in the ratio, maslahah mursalah willlikely be the basis of settlement policy. This study aims to provide a robust theoretical foundation for the Indonesian government to design and implement maslahah mursalah-based policies to address income and wealth inequality, including human capital development, labour market opening for women, labour rights protection, improved access to finance, social transfer programs, zakat and tax optimisation, housing policy reform, and increased transparency and corruption eradication. Universitas Islam Negeri Raden Mas Said Surakarta 2024-06-20 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article application/pdf https://shirkah.or.id/new-ojs/index.php/home/article/view/716 10.22515/shirkah.v9i3.716 Shirkah: Journal of Economics and Business; Vol. 9 No. 3 (2024); 360-377 2503-4243 2503-4235 eng https://shirkah.or.id/new-ojs/index.php/home/article/view/716/227 Copyright (c) 2024 Tholkhatul Khoir http://creativecommons.org/licenses/by-nc/4.0 6481e13cb6924f70cccac0ebc166109e