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All Journal International Journal of Economic Integration and Regional Competitiveness
Herlinda Maya Kumala Sari
Muhammadiyah University of Sidoarjo, Indonesia

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THE EFFECT OF EXCHANGE RATES, INTEREST RATES, AND PROFITABILITY ON BANKING STOCK PRICES ON THE IDX FOR THE 2020-2024 PERIOD Detak Prapanca; Shofi Maulana Ardiansyah; Herlinda Maya Kumala Sari; Rita Ambarwati Sukmono
International Journal of Economic Integration and Regional Competitiveness Vol. 3 No. 3 (2026): International Journal of Economic Integration and Regional Competitiveness
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v3i3.505

Abstract

Objective: This study aims to analyze the effects of exchange rates, interest rates, and profitability on stock prices in the banking sector on the Indonesia Stock Exchange for the period 2020–2024. Method: The subjects of this study are banking companies listed on the IDX, with a sample of 7 companies selected through purposive sampling. This study employs a quantitative approach using data collection methods in the form of financial statement documentation. The data sources used are secondary data obtained from company financial statements and related publications. Data analysis techniques utilize multiple linear regression with the assistance of SPSS software, as well as through the stages of classical assumption testing and hypothesis testing. Results: The results of the study indicate that (1) the exchange rate have a positive significant effect on the price of banking stocks; (2) interest rates have a negative significant effect on the price of banking stocks; (3) profitability has a positif significant effect on the price of banking stocks; (4) simultaneously, the three variables can explain 23.5% of the variation in stock prices; (5) macroeconomic and internal company factors, especially profitability, have a more equal influence on share prices; (6) there are other factors outside the research model that also influence banking stock prices. Novelty: This study analyzes the combined effects of exchange rates, interest rates, and profitability on banking stock prices in Indonesia using data from the 2020–2024 period.
INTEGRATING ISLAMIC MARKETING AND GREEN MARKETING THROUGH MAQASHID SHARIAH: A CONCEPTUAL FRAMEWORK FOR SUSTAINABLE VALUE CREATION Kumara Adji Kusuma; Aidah Safira Maharani; Rara Novalia; Mochamad Rizal Yulianto; Herlinda Maya Kumala Sari
International Journal of Economic Integration and Regional Competitiveness Vol. 3 No. 7 (2026): International Journal of Economic Integration and Regional Competitiveness
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v3i7.513

Abstract

Objective: The growing urgency of environmental sustainability has challenged conventional marketing paradigms, including green marketing, which is often criticized for its instrumental and profit-driven orientation. Simultaneously, Islamic marketing offers a value-based framework grounded in ethical and spiritual principles but remains underexplored in addressing ecological concerns. This study aims to develop an integrative conceptual framework that bridges Islamic marketing and green marketing through the lens of maqashid shariah. Method: Using a structured literature review and critical synthesis approach, this study identifies a theoretical gap between sustainability-driven marketing and faith-based ethical systems. Results: The findings reveal that while green marketing emphasizes environmental responsibility, it lacks a transcendent moral foundation. Conversely, Islamic marketing provides a holistic ethical system but has not been fully operationalized in environmental contexts. Novelty: This study proposes a maqashid shariah-based framework that integrates ecological sustainability into Islamic marketing by aligning environmental protection with the preservation of life (nafs), lineage (nasl), and wealth (mal). The framework introduces the concept of Islamic Green Marketing (IGM) as a value-driven and sustainability-oriented paradigm. The study contributes to the literature by offering a novel theoretical integration and provides managerial implications for halal industries and Islamic social finance institutions in advancing sustainable practices.
Co-Authors Aidah Safira Maharani Detak Prapanca Kumara Adji Kusuma Mochamad Rizal Yulianto Rara Novalia Rita Ambarwati Sukmono Shofi Maulana Ardiansyah