Eko Fajar Cahyono, David Kaluge
Fakultas Ekonomi Dan Bisnis-Universitas Airlangga

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DETERMINANT OF CUSTOMER LOYALTY FOR BANK SYARIAH INDONESIA AFTER M&A ACTIVITY BASED ON CONFIRMATORY FACTOR ANALYSIS Mardianto, M. Fariz Fadillah; Cahyono, Eko Fajar; Previan, Anggara Teguh; Fitrianingsih, Eka Rani; Fauzan, Muhammad Hafid
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 9 No. 2 (2023): JULY - DECEMBER 2023
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v9i2.48051

Abstract

Introduction: The government of Indonesia consolidated three state-owned Islamic banks to become Bank Syariah Indonesia. Customer loyalty is affected by merger operations. The goal of this study was to look at how operational integration variables, information technology integration, bank location, service quality, bank human resource quality, and product quality affected customer loyalty at BSI's predecessor banks (Bank Syariah Mandiri, BNI Syariah and BRI Syariah). Methods: Primary data was collected using a questionnaire tool. Confirmatory Factor Analysis was employed as the analytical method. Results: Consumer loyalty to BSI post the merger is influenced by a number of variable aspects, according to the study's findings. All operational integration variables, IT integration, bank location, service quality, HR quality, and product quality have a major effect on BSI customer loyalty, but the operational integration variables, IT integration, and product quality have the most significance. Conclusion and suggestion: BSI perform operational integration, fast and good IT integration, and has better product quality than before the merger, the most influencing factor for customers to be loyal to BSI is when BSI performs operational integration, fast and good IT integration, and has better product quality than before the merger.
Is There a Relationship Between Islamic Banking Liquidity and Inflation? Empirical Evidence from Indonesia Jazmiyanti, Nisrina; Cahyono, Eko Fajar; Kassim, Salina H.
Ekonomi Islam Indonesia Vol. 6 No. 1 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i1.406

Abstract

This study aims to determine if there is a relationship between the Islamic bank liquidity and inflation in the context of Indonesia. In achieving this objective, the effects of Bank Indonesia Certificates Sharia (SBIS), Bank Indonesia Islamic Deposit Facility (FASBIS), Inflation on Sharia Banking Liquidity for the period of 2011-2019 are analysed. The research method is quantitative approach and analyzed using multiple linear regression analysis. The data used in this study are secondary data obtained from official data from Bank Indonesia and the Financial Services Authority (OJK).The results showed that the Bank Indonesia Certificates Sharia (SBIS) had a significant negative effect on Islamic banking liquidity; the Bank Indonesia Islamic Deposit Facility (FASBIS) had no influence on Islamic banking liquidity; and inflation had a significant positive effect on Islamic banking liquidity. For monetary authority, this research can be used as an evaluation material for programs that are carried out specifically in the FASBIS instrument so that in the future FASBIS has an influence on Islamic banking liquidity and also while maintaining monetary instrument stability.
Evaluating Asymmetric Impacts of Islamic Bank Financing on Employment In Indonesia Cahyono, Eko Fajar; Wan Ngah, Wan Azman Saini; Law, Siong Hok; Mazlan, Nur Syazwani; Ahmad, Mohd Naseem Niaz; Mohhammed, Azali
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.40139

Abstract

Research Originality: This research examines the asymmetric impact of Islamic bank financing on employment in IndonesiaResearch Objectives:. This research aims to test the nolinear impact (gn) of Islamic bank financing on employment in IndonesiaResearch Methods: This research utilizes secondary data from 2006 to 2022 and employs non-linear ARDL (Auto Regressive Distributive Lag) and Conditional ECM (Error Correction Model) analysis methodsEmpirical Results: In the short term, increases in Islamic bank financing significantly boost labor force participation (LFPR), while decreases have no significant effects. Long-term analysis shows positive changes continue to enhance LFPR, but negative changes do not impact GDP. The impact of financing on LFPR is symmetrical over time, indicating short-term asymmetries do not persistImplications: This research implies that the Indonesian government can boost the growth of Islamic bank financing to increase employment opportunities for the population both in the short and long term.JEL Classification: E24, G21,C32How to Cite:Cahyono, E. F., Ngah, W. A. S. W., Law, S. H., Mazlan, N. S., Ahmad, M. N. N., & Mohhamed, A. (2025). Evaluating Asymmetric Impacts of Islamic Bank Financing on Employment in Indonesia. Etikonomi, 24(1), 31 – 52. https://doi.org/10.15408/etk.v24i1.40139.
RESPONSIVENESS OF SOCIAL VALUES AND REAL GROSS DOMESTIC BRUTO ON MONEY DEMAND IN INDONESIA Aditia, Maulana Rifki; Cahyono, Eko Fajar
Journal of Islamic Monetary Economics and Finance Vol. 3 (2018): SPECIAL ISSUE
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v3i0.735

Abstract

The purpose of this study was to determine the effect, estimates shocks and determine the contribution of , social values, real GDP currency, demand deposits wadi'ah, Mudaraba savings, deposits mudaraba and Islamic Bank Returns to money demand in Indonesia. Real GDP and social values theoretically able to increase money demand using each mechanism. Money demand represented by M2 with a composition comprising of fiat money, wadiah demand deposits, mudaraba savings and mudaraba investment deposits completed Islamic Bank return as balancing cost in Money demand. The research method used in this research is comparative quantitative. This research utilizes 8 (eight) variable which then unit root test, determining Lag Optimal, Cointegrate-Test, VECM Estimates, Impulse Response Function and Variance Decomposition are carried out. The results of VECM estimation showed that real GDP, fiat money, wadiah demand deposits, sharia return, mudaraba savings and mudaraba investment deposits are significantly influencing the amount of Money demand in long term. In short term, social values significantly influencing the amount of money demand in Indonesia. The results of Impulse response showed that real GDP positively responded by the M2. Then, social values positively responded, fiat money positively responded, wadiah deposits positively responded, mudaraba savings negatively responded, mudaraba deposits positively responded and sharia return positively responded by the M2IS. Variance decomposition results showed that social values has the biggest contribution, then followed by demand deposits wadi'ah, mudaraba deposits, mudaraba savings, currency, real GDP and return sharia smallest.
DETERMINANTS OF INDONESIAN CONVENTIONAL AND ISLAMIC BANK DEPOSITOR TRUST DURING THE COVID-19 PANDEMIC Cahyono, Eko Fajar; Rani, Lina Nugraha; Mardianto, M. Fariz Fadillah
Journal of Islamic Monetary Economics and Finance Vol. 7 (2021): Special issue 1: Islamic Economy and Finance in times of Covid-19 Pandemic
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i1.1352

Abstract

Depositor trust plays an essential role in the banking sector. The main objective of this study is to test several factors that significantly affect depositors’ confidence in conventional and Islamic banks in Indonesia during the COVID-19 pandemic. We conducted qualitative research with a sample of 217 customers who had a minimum of two bank accounts, one conventional, and one Islamic. In a questionnaire, customers were asked their opinions related to indicators of the variables studied, such as depositor trust, and their perceptions of inflation, conventional bank interest, the equivalent yield rate of Islamic banks, and industry perception Productivity Index. The results of the questionnaire were analysed using the partial least squares (PLS) method. The PLS analysis results show that the indicators related to conventional bank interest and the equivalent yield rate of Islamic banks significantly affected depositors’ trust and hands. In other words, customers were influenced when making bank deposits by the factors related to conventional bank interest and the equivalent yield rate of Islamic banks. The external aspect of the industrial production index based on the PLS test had a significant effect on depositors’ trust in both types of bank. In contrast, the external factor of inflation did not significantly affect depositors’ trust in either conventional or Islamic banks. Therefore, based on the PLS-SEM results, conclusions can be drawn regarding the factors influencing depositor trust.
Cash Waqf and The Development: A Case Study of Cash Waqf Linked Sukuk in Indonesia Cahyono, Eko Fajar; Hidayat, Sutan Emir
El Barka Vol. 5 No. 1 (2022)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v5i1.3713

Abstract

This study offers an integrated analysis of the Cash Waqf Linked Sukuk application in Indonesia. The method employed is a review of the literature utilizing many data sources. Several significant ideas, like the sharing economy, Islamic financial innovation, and social impact bonds, have a significant link with the implementation of CWLS, according to the findings. Cash Waqf Linked Sukuk (CWLS) is a tool for placing waqf money (cash waqf) on Indonesia's sovereign Sukuk (SBSN), which was developed to support the social facilities development program. With the presence of CWLS, the private sector can actively contribute to the government's development of public facilities for widespread advantages. The primary advantage of CWLS is that its advantages can be enhanced through the provision of government-managed public infrastructure with solid governance and a low degree of risk. The Indonesian Waqf Board, Bank Indonesia, the Ministry of Finance, Islamic Financial Institutions, the Zakat Institutions, the Ministry of Religious Affairs, Investors, and (Mauquf Alaih) Beneficiaries are involved in the management of CWLS. The study finds that CWLS may be able to aid the community in achieving more sustainable and equitable economic growth.