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A BIBLIOMETRIC ANALYSIS OF ZAKAT LITERATURE FROM 1964 TO 2021 Supriani, Indri; Iswati, Sri; Bella, Firsty Izzata; T, Yunice Karina
Journal of Islamic Economic Laws Vol 5, No 2 July 2022
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i2.18511

Abstract

This research provides a comprehensive historical and present development of zakat literature through bibliometrics analysis extracted from the Scopus database using Publish or Perish (PoP), RStudio, and VOSviewer. This study confirms that the literature on zakat has significantly increased during the last fifty years (1964–2021). This research identified that zakat literature had been comprehensively discussed by researchers across the nation from six aspects of research, namely the governance of zakat institutions; zakat as a poverty eradication tool; zakat compliance in an Islamic perspective; zakat as a social security scheme; the intention to pay zakat; and the distribution of zakat. This study confirms that Malaysian scholars and educational institutions have demonstrated a strong research commitment to the theme of zakat.
Twenty years of Islamic banking literature by Indonesian researchers: A hybrid reviews Supriani, Indri; Bahril, Muthi Adilah; Pimada, Laila Masruro; Melzatia, Haura Hazimah; Herianingrum, Sri
Jurnal Ekonomi & Keuangan Islam Volume 10 No. 1, January 2024
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol10.iss1.art10

Abstract

Purpose – The emergence and growth of Islamic Banking in Indonesia have significantly increased over the past few decades. Consequently, there is a pressing requirement for a thorough examination to analyze the present state of IB literature, including its development and conceptual framework.Methodology – This study utilizes a bibliometric methodology and Systematic Literature Review (SLR), applying content analysis techniques to uncover the intellectual framework of IB literature produced by Indonesian researchers, as documented in the Scopus database. This study utilized 418 articles published between 2003 and 2023, resulting in a total of 418 articles. Data were analyzed using various software applications, including Publish or Perish (PoP), Excel, VOS-Viewer, and Biblioshiny-R.Findings – This study identifies the institutions, authors, journals, and articles that have had the most influence on IB literature published by academics in Indonesia. Additionally, this study sought to uncover patterns of research collaboration within this body of literature. Moreover, this study discovered four main clusters: comparing Islamic and conventional banks, examining the interaction between Islamic banks and their customers, exploring corporate social responsibility (CSR) and accounting practices, and examining the impact of Covid-19 within the context of Islamic banking. Implications – The findings of this study will assist researchers in identifying a range of potential topics for future research that Indonesian researchers can explore.Originality – Applying bibliometrics and SLR methodologies enables this study to comprehensively assess literature development in the IB in Indonesia by incorporating quantitative and qualitative analyses.
ISLAMIC STOCK MARKET PERFORMANCE PRE-COVID-19: EMPIRICAL EVIDENCE FROM JAKARTA ISLAMIC INDEX Supriani, Indri; Herianingrum, Sri; Ninglasari, Sri Yayu; Budi, Ryan Setya
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37789

Abstract

Islamic stock market has experienced massive growth globally, including in Indonesia. This study aims to investigate the predicting factors of the Indonesian Islamic stock market that presents by the stock price of the Jakarta Islamic Index (JII). Adopted the Augmented Distributed Lag (ARDL) approach, this study uses monthly data from January 2007 to February 2020. This study uses five macroeconomic variables, namely consumer price index, exchange rate, crude oil price, world gold price, and Dow Jones Islamic Index (DJIM), to determine the JII's stock price. As a result, the JII's price volatility is significantly driven by the macroeconomic variables simultaneously. Importantly, this study reports that world gold price and DJIM return to become the most crucial factors influencing the ' 'JII's stock price volatility in short and long-run investment periods. This study has passed robustness checks by conducting three out of sample periods, namely 25%, 50%, and 75% out of sample. The 75% and 50% out of sample data revealed an identical result. Thus, this study suggests that the investor evaluates the crude oil price and world gold price fluctuation to predict the price of JII. This study offers practical implications for policymakers and practitioners and recommendations for future research.
The Effect of Carbon Emissions, Corporate Social Responsibility Disclosure, Return on Equity Boy Frahansah Berutu; Dias Satria; Indri Supriani
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.6471

Abstract

This study analyzes the effect of Carbon Emission (CE), Corporate Social Responsibility (CSR), Return on Equity (ROE), and Leverage on bank lending to manufacturing and mining companies listed on the Indonesia Stock Exchange, using the Panel Data Regression Method. With a sample of 15 companies from 2018 to 2022, the results of the study show that CE and CSR do not have a significant effect on bank lending. On the contrary, ROE and Leverage have a significant effect, where ROE has a negative impact and Leverage has a positive impact on bank loans. These findings conclude that banks in Indonesia are still more focused on financial fundamentals in assessing corporate loan applications, without considering environmental and social risks. This study underlines the importance of innovation in credit structures and loan products to include considerations of environmental and social risks in the future, in order to achieve decarbonization targets and the Paris Agreement.
An empirical analysis of profit-and-loss sharing financing in Indonesian Islamic banks Suman, Agus; Supriani, Indri; Rajasa, Muhammad Attar Indra; Anisa, Vera Novia
Jurnal Ekonomi & Keuangan Islam Volume 12 No. 1, January 2026
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol12.iss1.art6

Abstract

Purpose – This study examines the determinants of profit-and-loss sharing (PLS) financing adoption in Indonesia by incorporating bank-specific, macroeconomic, and religiosity variables.Methodology – Utilizing monthly time-series data from October 2014 to October 2023, this research employs the Autoregressive Distributed Lag (ARDL) approach to model both long-run and short-run relationships. The analyzed variables include PLS financing, non-performing financing (NPF), capital adequacy ratio (CAR), total assets (TA), Zakat, Infaq, and Shadaqah (ZIS), the Islamic financing rate, the exchange rate, inflation, and the Industrial Production Index (IPI).Findings – The results indicate that in the short run, PLS financing is significantly influenced by CAR, TA, ZIS, and IPI. In the long run, however, PLS financing is predominantly determined by internal banking factors, specifically CAR and TA. Bank capitalization and asset size are critical to PLS financing dynamics, ensuring stability and responsiveness to internal financial conditions, thereby enhancing its viability within Indonesia’s dual banking system.Implications – The findings suggest that Indonesian regulators and bank policymakers should focus on enhancing the long-term availability of PLS-based financing, establishing standardized monitoring frameworks, and improving financial transparency. Furthermore, fostering innovation in Sharia-compliant products and investing in capacity-building initiatives that integrate Islamic jurisprudence with modern finance are recommended to strengthen the sustainability and competitiveness of PLS financing.Originality – This study contributes to the literature by providing an integrated empirical analysis of both internal bank-specific and external macroeconomic determinants of PLS financing in Indonesia, a comprehensive approach rarely explored in prior research.
Peningkatan Literasi Keuangan Syariah Masyarakat Desa dalam Mencapai Ekonomi Inklusif Menuju Kesejahteraan Masyarakat: Pembangunan Ekonomi, Kelembagaan, dan Kewirausahaan Agus Suman; Indri Supriani; Yendi Rio Nurrachman
Jurnal Pengabdian kepada Masyarakat Vol. 11 No. 1 (2024): JURNAL PENGABDIAN KEPADA MASYARAKAT 2024
Publisher : P3M Politeknik Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33795/abdimas.v11i1.4285

Abstract

Financial literacy, including sharia financial literacy, is one of the keys to the growth and development of an economy. As the country with the largest Muslim population in the world, Indonesia has great potential to utilize Islamic finance as a support for economic development. Thus, the Indonesian government is encouraging an increase in financial literacy, not only in conventional finance but also in sharia finance. Sharia economic, financial, and banking services in Indonesia have experienced a rapid increase, marked by the number of Sharia banks showing a positive trend. However, more than 80 million Indonesians are categorized as unbanked amid sharia financial services development. Therefore, sharia financial literacy education is needed to increase sharia financial literacy. This service activity aims to provide outreach and education regarding Sharia financial institutions, types, and services. This service activity is essential to carry out by considering village communities' low literacy level and financial inclusion. The service activities are in Ngaglik Village, Sengat District, Blitar Regency, East Java. Thus, Sharia financial education is expected to encourage increased involvement of MSME players in Sharia financial services, including obtaining business capital financing. Keywords: Sharia Financial Literacy, Sharia Financial Inclusion, MSMEs, Inclusive Economy, Welfare.
DOES COVID-19 CAUSE STRUCTURAL CHANGES IN THE INDONESIAN STOCK MARKET BEHAVIOR? A COMPARISON OF ISLAMIC AND CONVENTIONAL STOCK Indri Supriani; Nayaka Artha Wicesa; Yunice Karina Tumewang
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 10 No. 1 (2024): JANUARY - JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v10i1.46353

Abstract

Introduction: Islamic stock is believed to be more stable and less risky than conventional stock due to specific screening based on Sharia principles, particularly during economic downturns. This research aims to investigate whether the Covid-19 outbreak caused a structural break in Indonesia's Islamic and conventional stock markets. Methods: This study covers the period from January 2007 to June 2022, divided into sub-periods before Covid-19 (January 2007 to February 2020) and during COVID-19 (March 2020 to June 2022). The study adopts the time series regression method to examine the predicting factors of Islamic and conventional stock indexes, followed by the application of the Chow Breakpoint Test method to determine whether there are structural changes in the Islamic and conventional stock markets due to Covid-19. Results: The results of this study suggest that, in comparison to the period preceding Covid-19, the Islamic stock index demonstrates heightened sensitivity to fluctuations in predicting factors during the pandemic. Additionally, there is an absence of any structural break observed in conventional indices. Consequently, Islamic stocks exhibit lower resistance during crisis periods than conventional stocks. Conclusion and suggestion: This finding prompts a comprehensive evaluation of the Sharia screening standards by policymakers to enhance the resilience of Islamic stocks during economic turmoil. Moreover, based on the results, it is suggested that investors cannot consider the Islamic stock index as a 'safe-haven' instrument during financial turmoil. The result of this research assist investors in adjusting their investment strategies more effectively, particularly in bearish market conditions.
The Effect of ESG Disclosure on Financial Performance and Stock Returns: Evidence from Non-Financial Companies in the IDX ESG Leaders Index Hartanto, Nancy Nathania; Supriani, Indri
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 3 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study examines the effect of environmental, social, and governance (ESG) disclosure on the financial performance and stock returns of non-financial companies included in the IDX ESG Leaders Index in Indonesia. The study is motivated by inconsistent empirical evidence regarding the impact of ESG disclosure on firm performance, particularly in emerging markets with mandatory sustainability reporting. A quantitative approach was employed using panel data from 19 companies during 2018–2024. ESG disclosure was measured based on 32 indicators derived from POJK No. 51/POJK.03/2017 and SEOJK No. 16/SEOJK.04/2021. Financial performance was proxied by return on assets (ROA), return on equity (ROE), and stock returns, with firm size and leverage included as control variables. Panel data regression with panel-corrected standard errors (PCSE) was applied. The results indicate that ESG disclosure has no significant effect on ROA, ROE, or stock returns, and these findings remain robust when one-period lagged ESG disclosure is employed. The findings suggest that, within a mandatory ESG disclosure environment and among firms with relatively homogeneous ESG characteristics, ESG disclosure has not yet become a significant determinant of corporate financial performance or short-term market responses.