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Riduan Mas'ud
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Institut Agama Islam Negeri Surakarta, Indonesia Jln. Pandawa No. 1, Pucangan, Kartasura, Central Java, Indonesia, 57168
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Shirkah: Journal of Economics and Business
Published by Institut Agama Islam Negeri Surakarta
ISSN : 2504235     EISSN : 25034243     DOI : 10.22515/shirkah.v7i1.403
Core Subject : Economy,
Economics, Econometrics & Finance
Syirkah: Jurnal Ekonomi dan Bisnis adalah jurnal peer-review yang diterbitkan tiga kali setahun (April, Agustus, dan Desember) oleh Fakultas Ekonomi Islam dan Bisnis Institut Agama Islam Negeri (IAIN) Surakarta Jawa Tengah Indonesia bekerja sama dengan Perhimpunan Indonesia Ekonom Islam (lihat naskah MoU ). Jurnal ini dimaksudkan untuk menjadi platform diseminasi artikel yang melaporkan hasil penyelidikan ilmiah tentang Ekonomi dan Bisnis Islam. Jurnal ini memfokuskan pembahasannya pada bidang keuangan Islam, filantropi Islam, pemikiran ekonomi Islam, dan pemasaran Islam (lihat Fokus & Ruang Lingkup ).
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 9 Documents
 1 
Search results for , issue "Vol 9, No 1 (2024)" : 9 Documents clear
The Effect of Debt-to-Equity Ratio, Return on Asset, Current Ratio, and Total Asset Turnover on Stock Price: The Intervening Effect of Intrinsic Value in Indonesia’s Retail Business Nurwulandari, Andini; Wahid, Ririan Safiadi
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.630

Abstract

This study examines the effect of Debt-to-Equity Ratio (DER), return on assets (ROA), current ratio (CR), and total asset turnover (TATO) on stock prices with their Intrinsic Value as intervening variables in retail companies in Indonesia. Data regarding retail companies were obtained from the Indonesia Stock Exchange, and secondary data on these companies' financial ratios were collected from Stockbit. Stock price data were sourced from Yahoo Finance, and the intrinsic value of shares was determined using the price-to-earning ratio method. Drawing on structural equation modeling, the findings demonstrate that DER and ROA exert a positive and statistically significant effect on intrinsic value. TATO, on the other hand, exhibits a negative and statistically significant effect on intrinsic value, while CR demonstrates a negative and non-significant effect. Regarding stock prices, DER and CR have a negative and statistically significant effect, while ROA and Intrinsic Value have a positive and statistically significant effect. TATO, however, shows a negative and non-significant effect on stock prices. Furthermore, DER has a positive and non-significant effect on stock prices through intrinsic value, whereas ROA has a positive and statistically significant effect on stock prices through intrinsic value. CR, on the other hand, exhibits a negative and non-significant effect on stock prices through intrinsic value, and TATO demonstrates a negative and statistically significant effect on stock prices through intrinsic value.
A Legal Perspective on the Antecedents of Consumer Protection in Digital Financial Services Wardhani, Novea Elysa
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.667

Abstract

This research delves into the factors influencing consumer protection within the context of digital financial services, with a focus on the regulatory landscape, technology integration, consumer awareness, and data privacy. The primary objective is to analyze the impact of these factors on the improvement of consumer rights and safety. A quantitative approach was employed, utilizing data collected through surveys of digital financial service users. Confirmatory factor analysis was used to validate the measurement model, followed by structural equation modelling to test the hypotheses. The results demonstrate the significant and positive impact of the regulatory landscape, technology integration, consumer awareness, and data privacy on consumer protection. This study theoretically contributes by empirically confirming the role of these factors in consumer protection in digital financial services. From a practical standpoint, it underscores the importance of robust regulations, seamless technology integration, and effective consumer awareness initiatives in upholding consumer rights and safety. However, it is important to acknowledge certain limitations within this study. Its context-specific nature may restrict its generalizability to other regions, and the analysis primarily focuses on antecedent factors while neglecting potential influences from other variables. Nevertheless, this study's novelty lies in its comprehensive exploration of the foundational factors and their profound impact on consumer protection in the digital financial services landscape, furnishing valuable insights for informed policymaking and industry practices.
Strategic Performance Dynamics: Elucidating the Effect of Competitive and Growth Strategies on Companies Reny W.A., Armalia
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.664

Abstract

There was a dearth of empirical information and thorough understanding into how these strategies interacted and affected the performance of companies in the setting of Lampung Province before this research. Thus, this research investigates the effect of competitive and growth strategies on the strategic performance of companies registered with the Lampung Province Department of Industry and Trade. Utilizing a quantitative approach and statistical analysis of data from 396 survey respondents representing businesses across 15 cities and regencies in Lampung Province, the study employs the Partial Least Square (PLS) Structural Equation Modeling (SEM) method with SmartPLS software to analyze the data. The results indicate that competitive strategy significantly affects the strategic performance of companies. Additionally, growth strategy also significantly contributes to improved strategic performance, highlighting the importance of selecting the right growth strategies for companies. Simultaneously, both competitive and growth strategies exert a significant effect on the strategic performance of companies. These insights provide valuable guidance for businesses and regulatory authorities in Lampung Province's industrial and trade sectors, aiding them in designing more effective strategies to enhance company performance, considering both competitive and growth strategies.
Traditional vs Modern Groceries from Islamic Perspective in Indonesia Bachmid, Sofyan; Hidayat, Mokh Ulil; Noval, Noval
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.575

Abstract

Despite extensive research on the competition between modern and traditional retailers, there is a lack of investigation into specific factors that influence consumer choices and directly impact sales revenue. There is a scarcity of research exploring these issues from the perspective of Islamic business. To address this gap, the study aims to examine consumer preferences in purchasing decision at Traditional and Modern groceries. This study employed a quantitative approach by distributing questionnaire to 100 customers in Palu city, Indonesia. Data analysis involved path analysis and bootstrap biased correlation. The findings highlight the significant impact of product variants, pricing strategies, and promotional efforts by modern retailers on sales revenue in traditional retail stores through purchasing decisions. However, shopping convenience did not exhibit a significant influence, indicating the need for improvement. The competition between traditional and modern retail is primarily driven by shifting consumer behavior and relatively weaker marketing strategies employed by traditional retailers. This study suggests that to maintain their market position, traditional retailers should enhance their marketing strategies by expanding product offerings, setting competitive prices, and executing effective promotional campaigns. Prioritizing the improvement of shopping convenience is crucial to meet customer expectations and preferences.
The Influence of Tourism Industry and Tourism Supply Chain on Tourism Performance Mulyani, Sri
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.668

Abstract

This study explores the influence of stakeholders in the tourism industry in improving the tourism supply chain and tourism performance. This research employs a quantitative method to explore the pivotal role of stakeholders in Central Kalimantan's tourism industry, encompassing academicians and tourism industry professionals. Utilizing a structured questionnaire, 117 participants were selected through proportional stratified sampling. Data analysis employed a structural equation model (SEM). The study's results reveal a statistically significant and positive influence of stakeholders on both the tourism supply chain and tourism performance. Furthermore, it highlights the reciprocal influence of tourism supply chains on tourism performance. This research offers valuable insights for future investigations and informs strategies to boost Indonesia's tourism sector.
Perceptions and Knowledge of Sharia Principles in Islamic Investment: Perspective of Muhammadiyah Community Ragil, Bambang; Hadiyati, Ernani; Suswati, Endang; Sadayi, Delila Putri
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.675

Abstract

This study aims to analyze the perception and knowledge of the Muhammadiyah community - one of the largest religious organizations in Indonesia - towards Sharia principles in investing in Islamic financial products. Using a qualitative approach with Qualitative Data Analysis Software (Q-DAS), data were gathered through in-depth interviews and participatory observations with members of the Muhammadiyah community. The results indicate that the participants have a significant awareness of Sharia principles. They acknowledge the prohibition of usury and the importance of avoiding investments in industries deemed haram according to religious teachings. Participants understood Sharia principles well and used them as guidelines for making investment decisions. However, the study also revealed that the Muhammadiyah community's knowledge of Islamic financial products requires improvement. There is a need for enhanced understanding of the concepts, features, benefits, and risks associated with Islamic financial products. Factors such as access to information, education, previous experience, and religious beliefs influence people's perception and knowledge in this area. The study concludes that while the Muhammadiyah community is highly aware of Sharia principles in investing, a deeper knowledge and broader understanding of Islamic financial products are essential.
Customer Response towards Funding Return Uncertainty in Indonesian Islamic Banking Fatoni, Nur; Pabbajah, Mustaqim
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.722

Abstract

A guaranteed return on funding is the expectation of customers when engaging in transactions with Islamic banks, yet it remains uncertain. This study aims to explain customer responses to the uncertainty of funding returns in Islamic Banks in Indonesia. The research is based on descriptive qualitative methods, with data collected through observations and interviews. Observations involved visiting bank branches and interacting with employees to explain the research intent. The researchers directly observed funding transactions at several selected Islamic banks in Semarang municipality, Indonesia. Interviews were conducted with customers from these banks, selecting at least one funding customer for each interview (N= 4). Data were analyzed using descriptive analysis methods. The study found that the uncertainty of funding returns is attributed to the application of the mudharabah contract. Customers are not overly concerned with the return uncertainty as long as the Islamic bank operates normally. Loyal customers prefer Islamic banks for their funds placement, considering the total return competitive. This research refutes the perception among some in the public that Islamic banks are similar to conventional banks. Islamic banks must maintain competitive equivalent rates to preserve customer loyalty. 
The Role of Trust and Engagement in Organizational Citizenship Behavior of Chemical Manufacturing Industry in Indonesia Nuryanto, Uli Wildan; Pratiwi, Ika
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.672

Abstract

Although research on the relationship between trust and engagement with organizational citizenship behavior (OCB) has been extensively explored, the connection between these variables in the context of the chemical industry remains underexplored. The aim of this study is to examine the influence of trust on OCB, the impact of engagement on OCB, and the combined effects of trust and engagement on OCB in the Chemical Manufacturing Sector in Indonesia. This research employs a quantitative associative approach. The sample comprises 249 employees from manufacturing companies in the city of Cilegon, Indonesia, selected through proportional stratified random sampling techniques. The data analysis technique employed is multiple linear regression analysis using SPSS version 26. The findings of this study reveal that trust has a significant positive influence on OCB, engagement has a significant positive impact on OCB, and both trust and engagement collectively exert a significant positive influence on OCB in the Chemical Manufacturing Sector in Indonesia. The results of this research contribute to providing insights for chemical manufacturing companies in Indonesia to enhance the quality of their employees in achieving OCB principles.
A Decade of Research on Intellectual Capital in Indonesia: Systematic Literature Review Kumalasari, Yuliana; Aryani, Y. Anni
Shirkah: Journal of Economics and Business Vol 9, No 1 (2024)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i1.643

Abstract

The present study aims to scrutinize empirical evidence related to the study of intellectual capital in Indonesia. The study conducts an analysis of 60 articles from Scopus-indexed and SINTA-indexed journals over the observational period spanning from 2012 to 2023. The methodology employed in this study is the charting field method. Notably, the findings reveal that financial performance serves as the predominant metric in the exploration of intellectual capital in Indonesia over the course of a decade. Nevertheless, our mapping results unveil a critical gap in the research landscape, specifically, the inconsistency in the relationship between intellectual capital and financial performance proxies such as Return on Assets (ROA), Return on Equity (ROE), Price-to-Book Value (PBV), and Debt-to-Equity Ratio (DER). It is our aspiration that future research concerning the subject of intellectual capital will extend their scope to non-financial performance dimensions and incorporate qualitative data analysis, surveys, interviews, or the incorporation of Environmental, Social, and Governance (ESG) indicators within the context of intellectual capital exploration in Indonesia.

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