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Moderating Effects of Sharia Governance on Green Banking and Customer Loyalty in West Nusa Tenggara Wulandari, Widya Rizki; Qoyyum, Abdul
Economica: Jurnal Ekonomi Islam Vol. 15 No. 2 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2024.15.2.21819

Abstract

The primary objective of this research is to examine the influence of green banking on green loyalty in Sharia banking in NTB, utilizing stakeholder theory, legitimacy theory, and self-regulation theory. The study expands on three key variables as a framework for understanding green banking: green innovation, green finance, and environmental performance. Additionally, it investigates the role of Sharia governance as a moderating factor in the relationship between green banking and green loyalty. Using quantitative methods and the SmartPLS 3.0 software for data analysis, this research reveals that both green innovation and environmental performance positively impact green loyalty, while green finance does not have a significant effect. Sharia governance was found to strengthen only the relationship between green innovation and green loyalty. The findings aim to contribute to the Sharia banking sector and encourage customers to choose environmentally friendly, sustainable products.
The Role of Sharia Stocks in Driving the Achievement of the SDGs: Empirical Evidence from Sharia Stock Indices in Indonesia Abadiyah, Fajriyatul; Wulandari, Widya Rizki
Jurnal Ar Ro'is Mandalika (Armada) Vol. 6 No. 2 (2026): JURNAL AR RO'IS MANDALIKA (ARMADA)
Publisher : Institut Penelitian dan Pengembangan Mandalika Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59613/armada.v6i2.6101

Abstract

Achieving the Sustainable Development Goals (SDGs) requires the active involvement of the financial sector in promoting inclusive and sustainable economic development. Within the framework of Islamic economics, Islamic capital markets particularly Islamic stocks are considered strategic instruments due to their emphasis on justice, sustainability, and strong linkages with the real sector. This study aims to examine the role of Islamic stock performance in promoting SDGs achievement in Indonesia. A quantitative approach is employed using panel data regression on firms listed in the Indonesian Sharia Stock Index (ISSI) over the 2015–2023 period. Islamic stock performance is measured by stock returns, volatility, and market capitalization, while SDGs achievement is proxied by the SDG index score, poverty rate, and employment ratio. The Fixed Effect Model estimation reveals that Islamic stock returns and market capitalization have a positive and significant effect on SDGs achievement, whereas stock volatility has a significant negative effect. These findings suggest that Islamic capital markets contribute meaningfully to sustainable development, although their effectiveness is highly dependent on market stability. This study provides empirical evidence for Islamic development economics literature and offers policy insights for strengthening the role of Islamic capital markets in supporting the SDGs agenda in Indonesia.