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All Journal Indonesian Economic Review INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
Musdeki Mulya
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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CHALLENGES AND SOLUTIONS TO THE USE OF ONLINE SHOPPING APPLICATIONS IN THE PERSPECTIVE OF ISLAMIC ECONOMY IN INDONESIA Zuwardi; Azzahratul Hasanah; Musdeki Mulya; Riana Wiliza; Anita Triana; Sirtia Pelanda Onesti
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 4 (2024): April
Publisher : Adisam Publisher

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Abstract

The use of online shopping applications has become a predominant trend among the Indonesian population, presenting challenges and opportunities within the context of Islamic economics. This article discusses the challenges faced by users of online shopping applications from the perspective of Islamic economics in Indonesia, highlighting aspects such as Sharia compliance, transparency, and social responsibility. Challenges include the ambiguity of the halal status of products, uncertainty in transaction processes, and ethical issues related to promotions and advertisements. Simultaneously, this article identifies solutions that can be implemented to address these challenges. These solutions encompass the development of clear Sharia guidelines for online products and services, increased transparency in business processes, and enhanced awareness and education of the public regarding Islamic economic principles. The implementation of blockchain technology and Sharia-compliant payment mechanisms is also highlighted as potential solutions to improve trust and Sharia compliance within the online shopping ecosystem. Through this analysis, the article provides insights into how online shopping applications can be integrated with Islamic economic values, creating an ecosystem that is not only technologically innovative but also aligned with the principles of Islamic finance. Consequently, it is hoped that a more inclusive, transparent, and Sharia-compliant online shopping ecosystem can be established in Indonesia.
The Effect of Leverage, Sales Growth, and Corporate Governance on Financial Distress in Property and Real Estate  Sector Companies Listed on the IDX for the 2020-2024 Period Musdeki Mulya; Khadijah Nurani
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.108

Abstract

This study aims to examine the magnitude of the effect of leverage, sales growth, and corporate governance on financial distress in property and real estate sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This research employs a quantitative approach using numerical data, starting from data collection to the presentation of research results, derived from secondary data in the form of companies’ financial statements for the 2020–2024 period. The sample consists of nine companies. Data analysis techniques include descriptive statistical analysis, classical assumption tests, panel data regression analysis, model selection tests using the Chow test, Hausman test, and Lagrange Multiplier test, hypothesis testing, and coefficient of determination analysis, conducted using EViews version 13. Based on the model selection results, the Random Effect Model is applied in this study. The findings indicate that, partially, leverage does not have a significant effect on financial distress, with a significance value of 0.7096 and a t-statistic of −0.374990. Sales growth has a significant effect on financial distress, with a significance value of 0.0023 and a t-statistic of 3.245622, indicating that changes in sales growth influence the financial distress condition of companies. Meanwhile, corporate governance does not have a significant effect on financial distress, with a significance value of 0.0924 and a t-statistic of 1.722942. Simultaneously, leverage, sales growth, and corporate governance have a significant effect on financial distress, with a significance value of 0.003637 and an F-statistic of 5.265885.
Co-Authors Anita Triana Azzahratul Hasanah Khadijah Nurani Riana Wiliza Sirtia Pelanda Onesti Zuwardi