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The Influence of Macroeconomic Shocks, Operational Efficiency, and Financing Risk: An Empirical Study of NPF in Indonesian Islamic Banks Mubarok, Faizul; Wibowo, Martino; Pradana, Hasta Dwi; Yaacob, Zulnaidi
Falah: Jurnal Ekonomi Syariah Vol. 11 No. 1 (2026): FEBRUARY
Publisher : Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jes.v11i1.43291

Abstract

This study examines the influence of key macroeconomic variables on the level of Non-Performing Financing (NPF) in Indonesia’s Islamic banking sector using a Vector Error Correction Model (VECM) framework. Research on the stability of Islamic banking was growing, even limited studies linked macroeconomic indicators with NPF with long-term data and dynamic frameworks. This study was quantitative by using macroeconomics indicators such as inflation, the exchange rate, economic growth, the stock price index, financing levels, and global oil prices, complemented by the bank-specific variable BOPO. The secondary time-series data covering the period 2007–2025 were employed in this study. Johansen’s cointegration test indicates the presence of three cointegrating vectors, confirming the existence of long-run relationships among the variables. The result found that the VECM estimation reveals that the exchange rate and inflation exert significant short-run effects on NPF, whereas operational efficiency (BOPO) and economic growth are significant determinants in the long run. These findings underscore the critical role of macroeconomic stability and bank-level operational efficiency in sustaining financing quality in Islamic banking. The implication of this study recommends strengthening risk-management practices, enhancing monitoring effectiveness, and adopting more responsive strategies to mitigate macroeconomic volatility. In addition, policymakers are encouraged to review and adapt macroprudential policies to respond to changing economic conditions. These actions collectively can  enhance stakeholder resilience and support effective leadership during periods of economic uncertainty.
CONTRIBUTION OF JOB STRESS IN MEDIATING ASPECTS AFFECTING WORK FATIGUE OF MINISTRY OF RELIGIOUS AFFAIRS EMPLOYEES IN THE SOUTH PAPUA PROVINCE REGION Risanti, Dwi; Ratang, Westim; Wibowo, Martino
Jurnal Ekonomi Kreatif dan Manajemen Bisnis Digital Vol 3 No 1 (2024): AGUSTUS
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/jekombital.v3i1.803

Abstract

Employees working for the Ministry of Religion in the South Papua Province have a range of tasks related to community service in religious affairs. The demanding workload in this role calls for extra effort from the employees. This research aims to explore how work stress acts as a mediator in the relationship between leadership style, workload, and income adequacy with work fatigue among Ministry of Religion employees in the South Papua Province. Data was collected through a survey involving 153 participants. The findings from the structural equation modeling analysis reveal that leadership style has a significant negative impact on work stress, while workload has a significant positive impact on work stress. However, income adequacy does not seem to affect work stress. Moreover, leadership style negatively impacts work fatigue, whereas workload has a positive impact on work fatigue. Income adequacy, on the other hand, does not have a significant impact on work fatigue. The study ultimately concludes that work stress plays a role in mediating the relationship between leadership style and workload with work fatigue. However, work stress does not mediate the effect of income adequacy on job burnout.