Misnen Ardiansyah
Universitas Islam Negeri Sunan Kalijaga Yogyakarta

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Dampak Shock Indeks Saham Syariah Global dan Indeks Saham Syariah Regional ASEAN Terhadap Perubahan Harga Saham Pada Jakarta Islamic Index Farradila Geta Oceania; Misnen Ardiansyah
Jurnal Multidisiplin West Science Vol 2 No 03 (2023): Jurnal Multidisiplin West Science
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/jmws.v2i03.243

Abstract

Adanya globalisasi dan liberalisasi di pasar keuangan, investasi antar negara, dan peningkatan perusahaan multinasional dapat menghubungkan pasar di berbagai negara. Ketika terjadi satu peristiwa di suatu negara, maka negara sekitarnya akan terimbas oleh peristiwa tersebut. Penelitian ini bertujuan untuk mengetahui dan menjelaskan dampak shock yang terjadi pada indeks saham syariah global dan regional Asean terhadap perubahan harga saham di JII. Metode yang digunakan adalah Vector Error Correction Model (VECM) dengan Eviews12 untuk menganalisis hubungan jangka panjang dan jangka pendek. Populasi dalam penelitian ini adalah indeks saham syariah global dan Asean dengan Sampel Dow Jones Islamic Market China/Hongkong (DJICHK), Dow Jones Islamic Market Japan (DJIJP), Dow Jones Islamic Market US (DJIMUS), FTSE Bursa Malaysia Emas Sharia Index (FBMS), dan FTSE SFX Asia Sharia100 (SGS100). Hasil penelitian menunjukkan bahwa terdapat dua indeks pasar saham syariah yang memiliki hubungan jangka pendek yaitu DJIMUS, dan DJIJP. Sedangkan, dalam jangka panjang seluruh variabel mempengaruhi Jakarta Islamic Index (JII) Kecuali FBMS. Nilai IRF dan VD menunjukkan DJIMUS memberikan kontribusi terbesar terhadap perubahan harga saham JII. Sementara, kontribusi terkecil diberikan oleh SGS100.
Islamic Spiritual Well-Being as a Mediator in CRM–Loyalty Relationships: Evidence from Islamic Microfinance Nurul Huda; Misnen Ardiansyah; Mukhamad Yazid Afandi
Business and Applied Management Journal Vol. 3 No. 1 (2025)
Publisher : Al-Qalam Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61987/bamj.v3i1.528

Abstract

This study examines the influence of Customer Relationship Management (CRM) on customer loyalty among Muslim members of Islamic microfinance institutions and investigates the mediating role of Islamic Spiritual Well-Being (ISWB). Grounded in the Stimulus–Organism–Response (S–O–R) framework and the Islamic moral economy perspective, the study explores how CRM can cultivate loyalty rooted in Islamic values within Baitul Maal Wat Tamwil (BMT), a community-based Islamic financial cooperative. A quantitative cross-sectional survey was conducted with 225 members of BMT Nahdlatul Ulama in Madura, Indonesia. ISWB was measured using a nine-item scale representing Islamic virtues such as Falah, Taqarrub, Itqan, Istiqamah, Ta’awun, Ikhlas, Akhlaq, Tawazun, and Qana’ah, while CRM and customer loyalty were measured using established scales. Data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4 and bootstrapping (5,000 resamples). The findings show that CRM significantly influences ISWB (β = 0.780, p < 0.001) and directly affects customer loyalty (β = 0.180, p < 0.05). ISWB also significantly enhances customer loyalty (β = 0.541, p < 0.001) and partially mediates the CRM–loyalty relationship (indirect β = 0.422), accounting for 70.1% of the total effect. These results highlight the importance of integrating Islamic values into CRM practices to strengthen spiritually grounded customer loyalty in Islamic financial institutions.
Corporate governance and Islamic social reporting disclosure: evidence from Islamic bank in ASEAN Anggita Renata Sari; Misnen Ardiansyah; Narong Hassanee
Journal of Islamic Accounting and Finance Research Vol. 7 No. 2 (2025)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2025.7.2.25891

Abstract

Purpose - This study aims to analyze the effect of CEO power, independent board of commissioners, capital structure, and firm size on Islamic social reporting disclosure, as well as to explore the role of profitability as a moderating variable. Method - Using the random effect model and data analysis with EViews 12, the research sample includes Islamic banks in Malaysia, Indonesia, and Brunei Darussalam during the period from 2018 to 2023, with a population of 20. Result - CEO power has no significant effect on isr disclosure, while the independent board of commissioners and firm size have a significant positive effect. Capital structure shows a positive but insignificant effect, with profitability moderating the relationship between capital structure and firm size on isr disclosure. Implication - Good corporate governance and management commitment are essential for enhancing ISR disclosure, which is key to maintaining the reputation and transparency of Islamic banks in ASEAN. Originality - This study is the first to examine Islamic social reporting disclosure by integrating corporate governance factors and profitability across three ASEAN countries.
Maqasid al-shariah, zakat, and tax compliance: Perceptions of Muslim taxpayers and muzakki, BAZNAS, and KPP Pratama in Indonesia Endang Kartini Panggiarti; Misnen Ardiansyah; Moh. Tamtowi
Referensi Islamika: Jurnal Studi Islam Vol. 4 No. 4 (2026): AUGUST
Publisher : Academic Bright Collaboration

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66053/ri.v4i4.896

Abstract

The Muslim community has double obligations, namely tax and zakat obligations. Tax obligations are fulfilment as citizens, while zakat obligations are fulfilment as religious people. In terms of implementation, Muslims are faced with a choice of which one to prioritize, because everything is an obligation. Therefore, tax and zakat obligations should be integrated, so as not to confuse Muslims. This study aims to analyze the implementation of Maqasid al-Shariah in addressing zakat and tax integration to fulfil the zakat and tax compliance in Indonesia. Grounded in the five core objectives of Maqasid al-Shariah the protection of religion, life, wealth, honor, and intellect and shaped with system approach from Jasser Auda, this study explores how Islamic values can promote zakat-tax compliance and social welfare. This is an exploratory qualitative study involved 14 participants who were both taxpayers and muzakki (zakat payers), BAZNAS, and KPP Pratama supported by a literature review of 27 journal articles. Data were collected through in-depth interviews to examine participants’ understanding of taxation and zakat obligations. The results indicate that need to fulfil themes included maqasid al-shariah and systems approach of Jasser Auda. Among them are emphasizing institutional synergy by cooperation between KPP Pratama and BAZNAS, improved tax-zakat literacy, the use of zakat as taxable-income deduction, and the interpretation of compliance through maqasid al-shariah and Jasser Auda’s systems approach. The study focused on private employees and Muslim entrepreneurs, BAZNAS, and KPP Pratama selected by the researcher. All participants were affiliated with companies collaborating with BAZNAS and KPP Pratama. Research integrating tax-zakat compliance, and Maqasid al-Shariah remains limited. This study contributes to the literature by highlighting how religious values and legal compliance can jointly strengthen tax and zakat compliance with maqasid al-shariah approach in Indonesia.