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PERKEMBANGAN PASAR MODAL SYARIAH: TANTANGAN DAN PELUANG INVESTASI SYARIAH M Sandi Marta; Muhammad Zaky; Agus Alamsyah Perwiranegara; Dewi Kurniasari; Diva Salsabilla Obadiah
Gunung Djati Conference Series Vol. 56 (2025): Seminar Nasional Ekonomi dan Bisnis Islam
Publisher : UIN Sunan Gunung Djati Bandung

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Abstract

Tantangan dan peluang dalam investasi syariah kini menjadi perhatian utama dalam pasar modal global. Kompleksitas pengembangan investasi yang sesuai dengan prinsip syariah Islam tercermin dari dinamika ekonomi, sosial, dan politik yang melingkupinya. Penelitian ini bertujuan untuk mengkaji perkembangan pasar modal syariah dengan menyoroti berbagai tantangan dan peluang investasi syariah di tingkat global. Metodologi yang digunakan adalah pendekatan kualitatif melalui studi pustaka dari berbagai sumber penelitian. Temuan penelitian mengungkapkan bahwa untuk menjawab tantangan yang ada, pelaku pasar dan ahli syariah perlu memiliki pemahaman mendalam terhadap dinamika pasar serta merancang strategi inovatif yang mengintegrasikan kepatuhan terhadap syariah dengan prinsip keberlanjutan ekonomi. Dalam konteks pergeseran global menuju inklusivitas dan tanggung jawab sosial, investasi syariah menawarkan potensi pertumbuhan ekonomi yang lebih inklusif dan berkelanjutan.
Understanding the Dual Impact of Job Conflict and Work Stress on Organizational Performance Outcomes Gunariah, Frilla; Bisri, Hasan; Yusup, Deni Kamaludin; Zaky, Muhammad; Hidayatunnisa, Nurul Fadhlya
MIX: JURNAL ILMIAH MANAJEMEN Vol 15, No 3 (2025): MIX : Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jurnal_mix.2025.v15i3.017

Abstract

Objectives: Organizational changes in both internal and external environments can significantly affect employee productivity, particularly when human resources are unable to adapt effectively. This often results in workplace conflict and elevated job stress levels. This study aims to examine the impact of work conflict and job stress on employee performance at PT. Scudetto Prima Transportasi.Methodology: The research employs a descriptive-verificative method with a quantitative approach, utilizing non-probability sampling techniques on the entire employee population (75 individuals). Data were analyzed using SPSS Statistics 20.Findings: Furthermore, partial tests reveal that both independent variables independently exert a negative and significant influence on performance. These findings underscore the critical importance of effective conflict and stress management strategies in enhancing organizational productivity and employee effectiveness.Conclusion: The results indicate that work conflict and job stress have a simultaneous negative and significant effect on employee performance, accounting for 17.9% of the variance.
PERCEIVED QUALITY AND WILLINGNESS TO BUY AS DETERMINANTS OF PRICE CHANGE FREQUENCY: EVIDENCE FROM RETAIL STORES IN BANDUNG Aziz, Aghni Aulia; Mufida Pertiwi, Ninda Annisa; Zaky, Muhammad
Journal of Management and Islamic Finance Vol. 5 No. 2 (2025): Journal of Management and Islamic Finance
Publisher : UIN Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jmif.v5i2.13323

Abstract

This study examines the influence of perceived quality and willingness to buy on the frequency of price change in the retail sector, using evidence from retail stores in Bandung, Indonesia. In highly competitive retail markets, price adjustments are often treated as firm-driven decisions; however, consumer perceptions and behavioral responses may also play a critical role in shaping pricing dynamics. Using a quantitative approach, data were collected from retail consumers and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results indicate that perceived quality has a positive and significant effect on the frequency of price change, suggesting that retailers tend to adjust prices more frequently when consumers perceive product quality favorably. In addition, willingness to buy is found to positively influence price change frequency, implying that stronger consumer purchase intention encourages retailers to respond more actively through pricing adjustments. These findings demonstrate that price change frequency in retail settings is not solely driven by internal cost or competitive factors but is also influenced by consumer evaluations and market signals. As a contribution to the literature, this study offers a novel perspective by positioning price change frequency as an outcome of consumer psychological constructs rather than merely a determinant of consumer behavior. The results provide practical insights for retail managers in Bandung and similar urban markets to design pricing strategies that are responsive to consumer perceptions while maintaining strategic pricing consistency.
Innovation in Waqf Management in the Digital Era to Promote Community Economy: An Implementation Analysis in West Java Sundari, Asri; Solihin, Dadin; Anton Athoilah, Mohamad; Hasan Ridwan, Ahmad; Zaky, Muhammad
International Journal of Business, Law, and Education Vol. 6 No. 2 (2025): International Journal of Business, Law, and Education
Publisher : IJBLE Scientific Publications Community Inc.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56442/ijble.v6i2.1288

Abstract

The rapid development of digital technology has transformed waqf management, enhancing efficiency, transparency, and inclusiveness in community-based economic empowerment. This study aims to analyse digital innovation in waqf management in West Java and its contribution to strengthening the community economy within Indonesia’s legal framework, particularly the Electronic Information and Transactions Law (Law No. 11 of 2008). Employing a qualitative case study design, data were collected through interviews, observation, documentation, and literature review. The findings reveal that waqf institutions in West Java have adopted digital applications, crowdfunding platforms, QRIS payment systems, and online dashboards that increase wakif participation, transparency, and the growth of MSMEs and employment. However, challenges persist in digital literacy and infrastructure readiness. Digital waqf has strong potential as a sustainable economic empowerment instrument through professional governance, adaptive regulation, and reliable technological systems.
IMPROVING CORPORATE SUSTAINABILITY THROUGH IMPLEMENTING GREEN ACCOUNTING AND MATERIAL FLOW COST ACCOUNTING Irma Tripalupi, Ramdhani; Afrianti, Rika; Asma' Binti Mohd Rosdi, Siti; Sakinah, Gina; Zaky, Muhammad
Jurnal Ilmu Akuntansi dan Bisnis Syariah (AKSY) Vol. 8 No. 1 (2026): Jurnal Ilmu Akuntansi dan Bisnis Syariah
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/aksy.v8i1.51905

Abstract

This study aims to analyse how the implementation of green accounting and material flow cost accounting (MFCA) can enhance corporate sustainability in mining companies listed on the Indonesian Sharia Stock Index (ISSI). Green accounting is measured through the PROPER program, while MFCA is proxied by factory area and production output. The study uses a quantitative approach and purposive sampling from companies listed on the ISSI for the 2021-2023 period. The results show that green accounting does not have a significant effect on improving corporate sustainability. MFCA, measured by factory area, shows no significant relationship in improving corporate sustainability. In contrast, MFCA, proxied by production output, has a significant positive effect on corporate sustainability. Meanwhile, green accounting and MFCA have a substantial impact on improving corporate sustainability. The study's results indicate that the simultaneous approach is more effective at supporting sustainability. The synergy between green accounting and MFCA helps companies formulate sustainable business strategies by ensuring compliance, thereby driving innovation and competitive advantage through transparency, environmental accountability, resource efficiency, and waste reduction.
Assessing The Role of Halal Certification in Shaping Micro, Small, and Medium Enterprises’ Perceptions and Income Ramadhani, Rega; Widiawati; Wira Dana Kusuma, Suteja; Zaky, Muhammad
Likuid Jurnal Ekonomi Industri Halal Vol. 6 No. 1 (2026): LIKUID: Jurnal Ekonomi Industri Halal
Publisher : Sharia Economics Study Program Faculty of Islamic Economics and Business UIN Sunan Gunun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/likuid.v6i1.45868

Abstract

Halal certification has become increasingly important among Micro, Small, and Medium Enterprises (MSMEs), especially in the food and beverage sector, following the implementation of Indonesia’s Law No. 33 of 2014 concerning Halal Product Assurance. This certification serves both as a regulatory requirement and a means to gain consumer trust, particularly from the Muslim majority. This study aims to explore the impact of halal certification on business actors’ perceptions and income levels within the traditional market area of Pasar Tumpah, Komplek Bumi Harapan, Bandung Regency. A descriptive qualitative method was used. Primary data were collected through direct observation and semi-structured interviews with nine culinary business owners. Six of whom were certified halal and three were not. Data analysis was conducted through data reduction, data display, and conclusion drawing. The findings reveal that certified business owners generally perceive halal certification positively, recognizing its benefits in improving consumer trust and business image. However, only two of the six certified businesses reported a noticeable increase in income. The remaining four did not experience significant financial changes. Uncertified respondents acknowledged the value of halal certification but cited cost and process complexity as primary barriers. Halal certification contributes positively to the perception of MSMEs in traditional markets, though its direct impact on income may vary. Support mechanisms may be needed to assist small businesses in obtaining certification.
The Mediating Role of Liquidity in the Relationship between ESG Performance and Firm Size: Evidence from IDX ESG Leaders Wenny Djuarni; Muhammad Zaky
IQTISHADUNA: Jurnal Ilmiah Ekonomi Kita Vol 15 No 1 (2026): IQTISHADUNA: Jurnal Ilmiah Ekonomi Kita-June
Publisher : LPPM ISNJ Bengkalis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46367/iqtishaduna.v15i1.2914

Abstract

Purpose – his study examines the effect of Environmental, Social, and Governance (ESG) performance on firm size, with liquidity as a mediating variable, among issuers listed in the IDX ESG Leaders index. The research responds to the growing emphasis on sustainability in Indonesia’s sharia-compliant growth stock market. Method – A quantitative approach is employed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3.0. The analysis is based on secondary cross-sectional data from 30 issuers over the 2025 period.. Implications – The results indicate that ESG performance has no significant direct effect on either firm size (p = 0.613) or liquidity (p = 0.735). However, liquidity exhibits a significant negative effect on firm size (p = 0.017). The indirect effect of ESG on firm size through liquidity is also not significant (p = 0.771). These findings suggest that ESG adoption in emerging markets like Indonesia may still be symbolic, challenging the assumption of short-term financial benefits. The study highlights the need for contextualized models and stronger regulatory frameworks by OJK (Indonesia’s Financial Services Authority). The results imply that the anticipated financial outcomes of ESG practices may not materialize in the short term within emerging markets, underscoring the importance of long-term perspectives and enhanced regulatory support.
How positive affect moderates job characteristics and lecturer job satisfaction in higher Islamic education? Muhammad Zaky; Yulia Fithriany; Budi Budiman
Journal of Islamic Economics and Business Vol. 5 No. 2 (2025): Journal of Islamic Economics and Business
Publisher : Fakultas Ekonomi dan Bisnis Islam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/jieb.v5i2.54538

Abstract

This study examines how job characteristics dimensions and positive affect influence job satisfaction among lecturers in Faculties of Islamic Economics and Business at State Islamic Religious Universities (PTKIN) in Indonesia. It aims to address the growing concern regarding academic job satisfaction within Islamic higher education institutions facing increasing professional and institutional demands. Despite the strategic role of lecturers in ensuring educational quality, declining job satisfaction remains a persistent issue in Indonesian higher education. Limited empirical evidence exists on how job design and affective dispositions jointly influence lecturer satisfaction in Islamic university contexts.This study contributes to the literature by integrating the Job Characteristics Model and dispositional affect theory through moderation analysis in the context of Islamic higher education. It provides empirical evidence on the interactive effects between job characteristics and positive affect, which remain underexplored in prior studies. This study employed a quantitative explanatory survey design involving 207 lecturers from seven PTKIN institutions in Java. Data were collected using validated instruments and analyzed using moderated regression analysis to examine direct and interaction effects among variables. The results indicate that skill variety, task identity, task significance, and autonomy have significant positive effects on job satisfaction, while feedback does not show a significant influence. Positive affect demonstrates a consistent positive relationship with job satisfaction. Furthermore, positive affect partially moderates the relationships between most job characteristics dimensions and job satisfaction, although the moderation effects are negative. This study confirms the relevance of job design and affective dispositions in shaping lecturer job satisfaction within Islamic higher education. The findings suggest that institutional efforts should integrate job enrichment strategies with psychological well-being programs to enhance academic performance and organizational sustainability.
Understanding the Dual Impact of Job Conflict and Work Stress on Organizational Performance Outcomes Frilla Gunariah; Hasan Bisri; Deni Kamaludin Yusup; Muhammad Zaky; Nurul Fadhlya Hidayatunnisa
MIX: JURNAL ILMIAH MANAJEMEN Vol. 15 No. 3 (2025): MIX : Jurnal Ilmiah Manajemen
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jurnal_mix.2025.v15i3.017

Abstract

Objectives: Organizational changes in both internal and external environments can significantly affect employee productivity, particularly when human resources are unable to adapt effectively. This often results in workplace conflict and elevated job stress levels. This study aims to examine the impact of work conflict and job stress on employee performance at PT. Scudetto Prima Transportasi.Methodology: The research employs a descriptive-verificative method with a quantitative approach, utilizing non-probability sampling techniques on the entire employee population (75 individuals). Data were analyzed using SPSS Statistics 20.Findings: Furthermore, partial tests reveal that both independent variables independently exert a negative and significant influence on performance. These findings underscore the critical importance of effective conflict and stress management strategies in enhancing organizational productivity and employee effectiveness.Conclusion: The results indicate that work conflict and job stress have a simultaneous negative and significant effect on employee performance, accounting for 17.9% of the variance.