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Is Islamic Banking Social Performance Able to Maintain Stock Price Stabilization by Exploring the Role of Profitability As An Intervening Variable? Reni Furwanti; Adilla Adilla; Abdul Qoyum
Global Review of Islamic Economics and Business Vol. 12 No. 1 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.121-04

Abstract

This study aims to analyze the effect of profitability as an intervening variable on the Islamic and social performance of Islamic Banking in order to maintain earnings per share. The purpose of maintaining earnings per share is to attract investors to invest in Islamic bank issuers. Therefore, this study also endeavors to forecast Islamic banking stock price volatility for companies listed on IDX and propose a framework for its mitigation. This framework considers the role of social performance in enhancing profitability, utilizing the path analysis method. This study focused on 3 Islamic banking companies (PNBS, BRIS, and BTPS) as a sample, using quarterly data specifically for the period of 2017 to 2021 with a purposive sampling method. In addition, Data sources include financial statements encompassing profit-sharing ratio, distribution of zakat, and distribution of qard al-hasan. Furthermore, this study employed an ARIMA regression model, subsequently adjusted using ARCH (Autoregressive Conditional Heteroscedasticity) and GARCH (Generalized Autoregressive Conditional Heteroscedasticity) as an analysis method for data forecasting. Based on the path diagram, it indicatedd that all hypotheses are accepted except for qard al-hasan, which has a significant and negative effect on profitability and stock prices. Therefore, based on these findings, this study contributes to expanding the scope of knowledge in the field of Sharia finance, as well as offers valuable guidance to Islamic finance industries on maximizing Islamic and social instruments to increase profitability, ultimately leading to a positive effect on stock price volatility.
Implementasi Strategi Dan Peran Pemangku Kepentingan Dalam Program Pemberdayaan Zakat Berbasis Komunitas Nila Saadati; Aziz Muslim; Abdul Qoyum
J-MD Jurnal Manajemen Dakwah Vol. 7 No. 2 (2026): JMD
Publisher : Program Studi Manajemen Dakwah, FUAD, IAIN Pontianak

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24260/0znb2834

Abstract

Purpose – This study examines how Indonesia’s Kampung Zakat program was implemented at the community level, which stakeholders shaped its execution, and how monitoring and evaluation functioned in practice. It addresses the imbalance between the frequent evaluation of welfare outcomes in faith-based poverty-alleviation programs and the limited scrutiny of the managerial processes that determine whether a well-designed strategy is delivered as intended. Design/methodology/approach – A phenomenological qualitative design, nested within a larger explanatory sequential mixed-methods dissertation, was adopted. Ten mustahik (zakat recipients) were purposively selected with stratification by geography, program duration, baseline socioeconomic position, and outcome level, and were interviewed by telephone in January–February 2026. Transcripts were analyzed thematically and benchmarked against the Ministry of Religious Affairs’ official guidelines. Findings – Execution depended on local intermediaries (neighborhood heads, mosque administrators, village officials, and local zakat officers) whose selection practices produced proximity bias. Substantial gaps emerged in skills training, structured mentoring, and market access, whereas the initial asset transfer reached all informants. The only informant reporting near-guideline mentoring also reported the strongest business continuity. Monitoring was perceived as administrative rather than corrective. Research limitations/implications – Interpreted through stakeholder theory, the resource-based view, and implementation-fidelity theory, the findings locate the program’s strategic vulnerability in execution capacity and local accountability rather than in design. The small qualitative sample and the focus on implementation rather than ministerial strategy formulation limit generalization. Practical implications – Auditable selection protocols, rotation of gatekeeping roles, mentoring standards treated as performance indicators, and monitoring linked to defined corrective responses can strengthen frontline governance. Originality/value – The study proposes an implementation-fidelity framework applicable to community-based Islamic philanthropy.
Co-Authors A. Abdurrahman A.A. Ketut Agung Cahyawan W Abdul Haris Abdul Haris Abdullah Abdullah Achmad Jufri Adilla Adilla Ahmad Syakir Kurnia Aji, Hendy Mustiko Akmal Ihsan Al-Amin Matae Andiansyah, Farma Arohman Arohman Arohman, Arohman Awwal, Muhammad Al Faridho Aziz Muslim Azzaki, Muhammad Adnan bin Mohd Thas Thaker, Hassanuddin Dede Dennis Dennis, Dede Dia Purnama Sari Dini Maulana Lestari Fadel Rahman Farma Andiansyah Fauziyyah, Neneng Ela Fitrotul Fardila Furwanti, Reni Hanafi, Syafiq Mahmadah Hassanudin Bin Mohd Thas Thaker Hassanudin bin Mohd Thas Thaker Ibi Satibi Ibnu Qizam Ibnu Qizam Ibnu Qizam Ibnu Qizam Ibnu Qizam Imas Hasanah Ita Eviyanah Izra Berakon Joko Setyono Joko Setyono Lu'liyatul Mutmainah Lu’liyatul Mutmainah Lu’liyatul Mutmainah M. Ardiansyah M. Miftahussurur Makhrus Munajat Mardiya, Milzamulhaq Masriani Adhillah Milzamulhaq Mardiya Misbahul Munir Misnen Ardiansyah Misnen Ardiansyah, Misnen Mosharrof Hosen Mudinillah, Adam Muh. Rudi Nugroho, Muh. Rudi Muhammad Adnan Azzaki Muhammad Dedat Dingkoroci Akasumbawa Muhammad Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti, Muhammad Rizky Prima Muhammad Yousuf Mutmainah, Lu’liyatul Neneng Ela Fauziyyah Neneng Ela Fauziyyah Nila Saadati Prasodjo Prasodjo Prasojo Prasojo Prasojo Prasojo Putri, Amila Zamzabila Qizam, Ibnu R. Suhaimi Rizka Hendriyani Sakti, Muhammad Prima Sari, Dia Purnama Satibi, Ibi Siti Nur Azizah Siti Nur Azizah Sunaryati Sunaryati Syintia Dwi Utami Thas Thaker, Hassanudin bin Mohd Utami, Syintia Dwi Uum Munawaroh Zamillaili, Maulanidya