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Economica: Jurnal Ekonomi Islam
Published by Universitas Islam Negeri Walisongo Semarang
ISSN : 20859325     EISSN : -     DOI : -
Core Subject : Economy, Education, Social,
Economics, Econometrics & Finance Social Sciences Other
EEconomica: Jurnal Ekonomi Islam is a scientific journal in the field of Islamic economics studies published twice a year by the Institute of Islamic Economic Research and Development (LP2EI), Faculty of Islamic Economics and Business UIN Walisongo Semarang. The editors receive scientific articles in the form of conceptual script or unpublished research results or other scientific publications related to Islamic Economics themes which cover Islamic Finance, Islamic Banking, Islamic Accounting, Islamic Marketing, also Behavioral Economics, Management, and Human Resources in Islamic perspective.
Arjuna Subject : -
Articles 366 Documents
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The Effect of Sustainability Report and Profitability on Company Value: Evidence from Indonesian Sharia Shares Mita Kurnia Rizki; Ratno Agriyanto; Dessy Noor Farida
Economica: Jurnal Ekonomi Islam Vol 10, No 1 (2019)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2019.10.1.3747

Abstract

The purpose of this research is to determine the effect of sustainability report disclosure and profitability on firm value. Type of this research uses a quantitative method with multiple linear regression of the data analysis techniques. The data used in this research are secondary data. The population of research companies are listed on the Indonesia Sharia Stock Index (ISSI) as of December 29, 2017. The sample used purposive sampling method on 13 company samples. The results of this research indicate that sustainability report does not affect firm value and profitability affects firm value. This study implies that regulators should encourage companies to disclose sustainability reports because there are still a few companies that disclose it. Regulators are also expected to participate in providing socialization so that investors understand the meaning of the sustainability report.Tujuan dari penelitian ini adalah untuk mengetahui pengaruh laporan keberlanjutan dan profitabilitas terhadap nilai perusahaan. Penelitian ini menggunakan metode kuantitatif dengan regresi linier berganda. Data dalam penelitian ini adalah data sekunder. Populasi perusahaan penelitian terdaftar di Indeks Saham Syariah Indonesia (ISSI) pada tanggal 29 Desember 2017. Sampel menggunakan metode purposive sampling pada 13 perusahaan. Hasil penelitian menunjukkan bahwa laporan keberlanjutan tidak berpengaruh terhadap nilai perusahaan dan profitabilitas berpengaruh terhadap nilai perusahaan. Studi ini menyiratkan bahwa regulator harus mendorong perusahaan untuk mengungkapkan laporan keberlanjutan karena masih ada beberapa perusahaan yang mengungkapkannya. Regulator juga diharapkan untuk berpartisipasi dalam memberikan sosialisasi sehingga investor memahami arti dari laporan keberlanjutan.
Efficient or Opportunistic: An Empirical Test of Managerial Discretion of Islamic Banking in Reporting The Earnings Ahmad Abbas; Neks Triani; Wa Ode Rayyani; Maha Radwan
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.9053

Abstract

Managers are responsible for the decision-making related to financial information. They make financial reporting incentives to manage financial data, including the earnings. Banks under Islamic principles seem to affect the probability of problematic managerial behavior in determining earnings. This study determines whether Islamic banking managers' discretion in reporting earnings is efficient or opportunistic. The sample of this study was Islamic commercial banks in Indonesia. The data was obtained from Bank Indonesia and Financial Services Authority. Their financial statements from 2010 to 2016 were analyzed using Moderated Regression Analysis. As reported by the analysis results, managers in Islamic banking are efficient in their discretion while reporting their earnings. Managers tend to level down their earnings when the profitability is exceptionally high at the current earning and movie it to the future earning making the profitability of Islamic banks seem stable. 
Using the REC Method to Evaluate the Financial Stability of Indonesian and Malaysian Islamic Banks Sefti Nur Cahya Putri; Havid Risyanto; Asep Dadan Suganda; En. Muhamad Husni
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.9371

Abstract

This research aimed to analyze the health level of Islamic banking both in Indonesia and Malaysia by using the REC approach; Risk Profile, Earning, and Capital. Furthermore, this research used the quantitative descriptive method, with collected data from the official websites such as Bank Indonesia, the Financial Service Authority, and Bank Negara Malaysia. In the determination of the sample, the researchers used a purposive sampling technique with convenience sampling it was 12 Islamic Commercial Banks both in Indonesia and Malaysia. The finding of this research partially through three approaches, namely the risk profile approach which is represented by the FDR ratio, the results show that there are significant differences in the soundness of Islamic banking in Indonesia and Malaysia. Then, through the earning approach represented by the ROA ratio, the results showed that there was no significant difference in the soundness of Islamic banking in Indonesia and Malaysia. Likewise, for the capital approach represented by the CAR ratio, the results show that there is no significant difference in the soundness of Islamic banking in Indonesia and Malaysia. Simultaneously, the REC approach proves that there is no significant difference in the soundness of Islamic banking in Indonesia and Malaysia
The Influence of Self-Efficacy and Islamic Financial Literacy on the Performance of Micro, Small, and Medium-Sized Enterprises Popon Srisusilawati; Cecep Soleh Kurniawan; Irma Yulita Silviany; Rita Mustika; Imelda Putri; Anggelia Nurfitria
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.6937

Abstract

MSMEs have long promoted a major contribution to the national economy. However, the Covid-19 pandemic has caused MSME to suffer a decline resulting in a direct effect on the economy in Indonesia. This study analyzes the influence of self-efficacy and Sharia financial literacy on MSMEs performance. The inclusion of a variable of self-efficacy is a novelty of this study. This study highlights self-efficacy and Sharia financial literacy as independent variables and business performance as the dependent variable, with the focus of research on MSMEs. The research method used is quantitative associative. Respondents from 100 MSMEs were selected using saturation sampling. Multiple linear regression was performed using IBM SPSS Statistic software. The results prove that self-efficacy and Sharia financial literacy have a simultaneous and partial positive effect on MSMEs performance.
Shariah Trend: A New Lifestyle in The Modern Age According to Marshall and Ibnu Taimiyah'S Demand Function Theory Nikmatul Masruroh; Ahmad Raziqi; Al Furqon Dono Hariyanto
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.6838

Abstract

The Muslim community has grown to be the world’s largest population. Muslims have become a priority for business people and manufacturers who understand Muslim life patterns. Nowadays, manufacturers do not hesitate to use the halal label to reap huge revenues from Muslims. According to the GIE report for 2019 to 2020, Muslim expenditure on the purchase of goods and services in six industries of food, finance, medicine, cosmetics, fashion, and travel and tourism has reached 2.2 trillion with 5.2% YoY growth from 1.8 billion Muslims worldwide. This draws a rosy picture of the development of the halal industry that Muslims have turned into a potential market. Products adhering to Islamic law are what manufacturers must consider having their goods sold well. The sharia trend has become a new lifestyle, particularly for millennials. The rise of Islamophobia is one of the reasons for the ascending trend of sharia-compliant lifestyles in the modern age. This paper highlights the sharia modes of consumption practiced by Muslims by employing literature review as a research methodology. Referring to the Marshallian demand function, the higher the demand, the higher the satisfaction, yet, even if it is labeled halal, the additional satisfaction decreases. This is in stark contrast to Ibn Taymiyah asserting that market demand depends on shifting preferences. Muslims are increasingly focused on the halal lifestyle due to ever-changing tastes based on economic reasoning.
Factors Determining Investor Acceptance Towards Islamic Finance in India Mohammad Irfan; Shah Saeed Hassan Chowdhury; Sylva Alif Rusmita
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.8798

Abstract

Despite India, having the second largest Muslim population in the world, Islamic finance is in its nascent stage. It is important from the perspective of investor to understand the concept of Islamic Finance. The aim of this study is focused on factors affecting the acceptance of Islamic Finance in India. This study concentrated on the primary data collected from 354 investors from cities across India, using structured questionnaire through snowball sampling technique. Demographic profiles of respondents were compiled by using descriptive statistics. The factor analysis was done by using SPSS. Findings of the study reveal that the high degree of reliability and validity of the data as reflected by Crobach’s Alfa (α) at 0.86. Kaiser-Mayer- Olkin Measure of Sampling Adequacy (KMO) is .776, which is statistically significant. Factor analysis extracted highly loaded (Eigen value 1) six factors using 29 items in a structured questionnaire. Together these six factors explained total variance of 76.24%. These factors are namely viz., Awareness of Shariah indices, Religious motive, Social responsiveness, Understanding of Shariah screening, Ethical investment and Socio-economic reasons. Therefore, Islamic Finance and Shariah investment product planner should consider such factors seriously in designing their product marketing strategies.
Transaction Cost Analysis on The Financing of The Baitul Maal Wat Tamwil Ro'fah Setyowati; Darwanto Darwanto; Adityawarman Adityawarman; Hantoro Ksaid Notolegowo
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.9142

Abstract

The emergence of Sharia microfinance institutions (S-MFIs) BMT has become a hope for micro, small and medium enterprises (MSMEs) pertaining to the improvement of access to capital loans, business, and welfare of MSME entrepreneurs. This study delves deeper into ex-ante and ex-post transaction costs of the BMT financing scheme at MSMEs from the BMT side and formulates strategies for optimizing BMT financing schemes for MSMEs. Constituting the largest contributor to the overall transaction costs at MSMEs, In a bid to reinforce the financing process, the efficiency of ex-ante transaction costs for drafting and ex-post transaction costs for designing and implementing the BMT’s governance is required.
Shariah Disclosure in Islamic Banking: Comparison of Islamic Banks in Indonesia and Malaysia Nisa Rahma Fadila; Rifqi Muhammad; Titin Subekti; Peni Nugraheni; Nor Farizal Mohammed
Economica: Jurnal Ekonomi Islam Vol 12, No 2 (2021)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2021.12.2.7435

Abstract

The development of Islamic banking, especially in Indonesia and Malaysia, has made the two developing countries experience an increase in assets and financing disbursed. This fact provides good news regarding the growth of the Islamic banking sector in both countries, as well as challenges in implementing good governance to maintain compliance with sharia principles. This study aims to measure the level of Sharia disclosure with seven indicators developed from previous research. The objects in this study are Islamic banks in Indonesia and Malaysia in the 2016-2018 period. The results show that Islamic banks in both countries have not met the perfect aspects of Sharia disclosure by getting an index of less than 1, namely 0.76 for Islamic banks in Indonesia, and 0.57 for Islamic banks in Malaysia. The results of this study are expected to be a means of improvement for the management of Islamic banks in both countries to be more comprehensive in the disclosure of Sharia in the annual report. The novelty of this research is the combination of sharia disclosure indicators from previous studies.
Usury and The Hijrah from Ribā Movement in Indonesia: An Interpretative Phenomenological Inquiry Wasyith, Wasyith; Kuswanjono, Arqom; Dumairy, Dumairy
Economica: Jurnal Ekonomi Islam Vol 14, No 1 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2023.14.1.16084

Abstract

Discussions about usury often spark long debates, as well as raise ambivalence. There has been a lot of literature highlighting the dynamics of this issue with various emphases. With the growing discourse on the establishment of Islamic economics in Indonesia, the Hijrah from Ribā movement originating from the grassroots is interesting to observe. However, there is still little literature that explores their personal world of experiences. This study seeks to understand how Islamic economic activists view usury. Three informants from the Special Region of Yogyakarta (DIY) Indonesia were selected for this study to be interviewed in a semi-structured manner. Interview transcripts were reviewed qualitatively using the IPA (Interpretative Phenomenological Analysis) approach. Data analysis revealed five superordinate themes: (1) business as usual, (2) a turning point, (3) learning process and role of the MUI fatwa, (4) post-hijrah spiritual experience, and (5) creative action: beyond debate. The findings of this study demonstrate the complexity of the psycho-social economic dimension, which has been neglected and is often ignored in the realm of modern positivism culture, which assumes economic reality to be autonomous and deterministic. Some methodological notes were also put forward to provide another facet in the development of Islamic economics research.
Optimizing Capital Management in Baitul Maal wat Tamwil: Issues and Approaches Rohman, Pupun Saepul; Laila, Nisful; Fianto, Bayu Arie; Ascarya, Ascarya; Rusydiana, Aam Slamet
Economica: Jurnal Ekonomi Islam Vol. 15 No. 1 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2024.15.1.20131

Abstract

Baitul Maal wat Tamwil (BMT) is a microfinance institution operating under Sharia principles, integrating social welfare and commercial finance to promote poverty alleviation and economic empowerment. Despite its potential, BMTs face significant capital challenges that hinder their sustainability and impact. This study explores these challenges using a qualitative methodology with a literature review approach. Six key issues are identified: (1) limited capital from low member savings, (2) inadequate accumulation of social funds, (3) mismatch between available funds and customer needs, (4) reliance on external funding, (5) low business volume, and (6) weak integration between the social (Baitul Maal) and commercial (Baitul Tamwil) functions. These issues restrict BMTs from fully achieving their financial inclusion and social welfare objectives. To address these challenges, the study suggests optimizing low-cost funds, managing cash waqf, strengthening Baitul Maal, collaborating with zakat institutions, and integrating Islamic social finance with commercial operations. Additionally, increasing principal and mandatory savings is recommended to improve capital stability. Resolving these issues is essential for enhancing BMTs' role in poverty alleviation and ensuring their long-term sustainability and effectiveness within the Islamic finance framework.

Page 28 of 37 | Total Record : 366

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