Shirkah: Journal of Economics and Business
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 ).
Articles
311 Documents
<![CDATA[Indonesian Islamic Commercial Banks’ Efficiency: A Stochastic Frontier Analysis ]]>
<![CDATA[Rusmita, Sylva Alif]]>;
<![CDATA[Putri, Devy Ariesta]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 5, No 3 (2020) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v5i3.283
<![CDATA[Islamic banks in Indonesia are continuously experiencing a rapid growth; thus, it results in a competitive financial sector. Consequently, maintaining an excellent performance is a prerequisite to gain customers’ trust and loyalty, one of the ways is enhancing productivity and efficiency performance. Drawing on this issue, the present study aims to examine the efficiency of Islamic banks listed in the Financial Services Authority (OJK) in the period of 2015 to 2019. Employing Stochastic Frontier Analysis (SFA) as a parametric approach, this study measured the efficiency level of cost and profit efficiency of the Indonesian Islamic commercial banks. The data were a cross-section and panel data obtained from financial reports established by seven Indonesian Islamic commercial banks. The result of frontier analysis on the efficiency costs showed that the value of sharia banks’ average efficiency in Indonesia was approximately 93.41%, while the efficiency of profit resulted in 55.35%. These results suggest that Islamic banks tend to be efficient in controlling costs from the year of 2015 to 2019. It is a worth saying that this study’s results contribute to providing fruitful insights for Islamic banks to increase their efficiency by controlling their cost of production such as the cost of funds and cost of operation.]]>
<![CDATA[How Ramadan and Global Pandemic Affect Religiosity and Donating Behaviors ]]>
<![CDATA[Fahrullah, A'rasy]]>;
<![CDATA[Anwar, Moch. Khoirul]]>;
<![CDATA[Ridlwan, Ahmad Ajib]]>;
<![CDATA[Prabowo, Prayudi Setiawan]]>;
<![CDATA[Yasin, Ach.]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 5, No 2 (2020) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v5i2.323
<![CDATA[Ramadan in the year of 2020 is the witness of global pandemic caused by the spread of Covid-19 that significantly alters human behaviors. In response to the current phenomenon, the present study is conducted to scrutinize how the holy month of Ramadan and global pandemic affect human religiosity and donating behaviors. To this end, this study employed a web-based questionnaire to gather the required data from 128 Indonesians who were voluntarily participated upon invitation. Using WarpPLS to analyze the data, the results showed that there was a significant influence of global pandemic situation and Ramadan on the level of religiosity. Moreover, the pandemic situation also encouraged the exist growth of donation institutions. This study further revealed the positive impact of the holy month of Ramadan and religiosity on human donating behaviors. In other words, Ramadan and global pandemic increased the level of human religiosity and the existence of donation institutions, as a results, their donating behaviors were also improved. However, this study found that the existence of donation institutions did not have any influence on human donating behaviors. These results offer an implication that Ramadan and global pandemic obviously provide a direct impact on religiosity and human donating behaviors.]]>
<![CDATA[Proposing Blue Sukuk in Indonesia: An Interpretive Structural Model ]]>
<![CDATA[Rusydiana, Aam Slamet]]>;
<![CDATA[Irfany, Mohammad Iqbal]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 1 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i1.333
<![CDATA[This research aims to identify the priority factors that being barriers to issue and develop Islamic blue sukuk in Indonesia. Employing the Interpretive Structural Modeling (ISM) method, it also offers several solutions for the identified problems. As an advanced planning methodology, ISM is used to identify, analyze, and summarize various relationships among factors that define a problem, model, or issue. In the ISM framework, there are three criteria of blue sukuk development in Indonesia including (1) aspect or foundation required within the framework of developing blue sukuk; (2) infrastructure that will be used as a basis for sukuk issuance (underlying projects); and (3) stakeholders involved in the development of blue sukuk in Indonesia. Results show that important foundations needed in the development of blue sukuk are regulatory aspects, feasible underlying projects, investors, and inter-institutional coordination, respectively. Finally, possible underlying infrastructures for the issuance of Blue Sukuk are the development of integrated fishing villages as well as the procurement of large and environmentally friendly fishing boats.]]>
<![CDATA[Revisiting the Contribution of Islamic Banks’ Financing to Economic Growth: The Indonesian Experience ]]>
<![CDATA[Supriani, Indri]]>;
<![CDATA[Fianto, Bayu Arie]]>;
<![CDATA[Fauziah, Najim Nur]]>;
<![CDATA[Maulayati, Ryan Rahmah]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 1 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i1.383
<![CDATA[The contribution of Islamic banking towards economic growth remains debatable amongst academicians and practitioners. This study investigates the relationship between Islamic banks’ financing and economic growth in Indonesia which is the largest Muslim population country. This study adopts Autoregressive-Distributed Lag (ARDL) and utilizes time-series quarterly data from 2011Q1 to 2019Q3. The study uses four predictors: financing to deposit ratio, gross capital fixed formation, inflation, and trade openness. The results from the auto-regressive distributed lag model indicate that, in the long-run, Islamic banks' financing has a significant impact on the Indonesian economy. However, in the short-run, financing does not make a substantial contribution to Indonesian economic growth. The study’s key implication is that financing by Islamic banks still makes a limited contribution to economic growth in Indonesia. This study enhances the literature review, specifically on evaluating the contribution of Islamic banks towards economic growth. Numerous existing studies on this topic covering the crisis period data, which might suffer from data bias. Therefore, this study addresses this topic, excluding the global financial crises period such as 1998, 2008, and 2020, to demonstrate Islamic banks' evident contribution to Indonesian economic growth.]]>
<![CDATA[Performance of GoFood MSEs Partnership: An Integration of Entrepreneurial Orientation, Marketing Capabilities, and Brand Orientation ]]>
<![CDATA[Prastiwi, Septi Kurnia]]>;
<![CDATA[Rohimat, Asep Maulana]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 5, No 3 (2020) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v5i3.337
<![CDATA[The current application of Gojek with its GoFood feature can serve the function as promotion media to consumers at the maximum extent for the Micro and Small Enterprises (MSEs) in the culinary business. Nevertheless, not all have been able to experience the improvement of this business performance in terms of the new application feature. Therefore, this study aims at investigating and analyzing the role of entrepreneurial orientation, marketing capability, and brand orientation to improve the performance of GoFood partnering SMEs. There were 112 samples of business partners in Surakarta participated in this study. The data analysis technique was by SEM using the application of AMOS 2.4. The research findings provide a conclusion that there is a significant effect of entrepreneurial orientation on marketing capabilities, brand orientation, and business performance. However, marketing capability and brand orientation were not proven to improve business performance; similarly, the mediation of entrepreneurial orientation through marketing capability and brand orientation was not supportive of business performance development. This study provides an actual contribution to the performance improvement of MSEs entrepreneurs through the digital application as an innovation and creativity of business players.]]>
<![CDATA[Education Level, Spiritual Intelligence, and Love of Money: Do They Correlate to Ethical Perception? ]]>
<![CDATA[Istiariani, Irma]]>;
<![CDATA[Arifah, Uliya]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 5, No 2 (2020) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v5i2.309
<![CDATA[The aim of this study is to shed some light on the impact of education level, spiritual intelligence, and love of money on ethical perception of accounting students which still remains unexplored thus far. The data were taken from 100 accounting students of several universities in Semarang Indonesia as the respondents. The data were further analyzed by employing PLS (Partian Least Square). The data analyses revealed several compelling results. First, there was no significant impact of education level on ethical perception of accounting students. Second, spiritual intelligence positively influenced the students’ ethical perception. Third, the education level was found to have no significant effect on love of money. Fourth, the spiritual intelligence negatively correlated to love of money. Fifth, the love of money did not provide a significant impact on students’ ethical perceptions. These results contribute to providing positive insights for academic stakeholders in solving ethical problems of accounting students who are going to be professional accountants and auditors. Additionally, the results of this study should be considered as ‘a wake-up call’ for accounting professionals to be more alert toward the threat of ethical violations that could potentially endanger their credibility.]]>
<![CDATA[Advocacy Coalition Framework of Ultra Micro Loan Policymaking in Indonesia ]]>
<![CDATA[Soesilo, Nining I]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 1 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i1.412
<![CDATA[Advocating the Ultra Micro-lending concept of Indonesia's Ministry of Finance in 2017 was a tumultuous nine-year process. The present paper aims to examine the Ultra Micro-lending (UMi) program conducted by the Ministry of Finance of Republic of Indonesia using Advocacy Coalition Framework. This paper showed that Advocacy Coalition Framework could moderate the interest groups' disagreement through seven steps as follows. First, relatively stable parameters of poverty need alleviation using better financial access with empowerment. Second, the external system is inspired by Grameen Bank as the winner of the Nobel Peace Prize. Third, removing constraints and resources of subsystem actors from the internal Ministry of Finance and the Parliaments. Fourth, creating consensus for getting the Ministry of Bureaucratic Reform's permit. Fifth, policy subsystem that coalesces the need of market-rate and subsidized rate to cater to 46.7 million grassroots entrepreneurs as a 'win-win' arrangement to complement the bank-based People's Business Credit (KUR). Sixth, policy outputs as the legal product of the UMi with a 7 Trillion State budget. Seventh, policy impact's measurement after one year piloting before UMi's scaling up. This paper has a significant contribution to enhancing the efficacy of UMi program, and as a continuous effort to ensure the economic development of the country.]]>
<![CDATA[Oman’s Islamic Banking Performance amidst Covid-19 Outbreak: Prospects and Challenges ]]>
<![CDATA[Mihajat, Muhammad Iman Sastra]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 1 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i1.374
<![CDATA[Covid-19 pandemic forced Islamic banking in Oman to slow down and to change strategies adapting to the current situation. The Covid-19 outbreak has raised various challenges for Islamic banking. In order to maintain the sustainable growth of the industry, stakeholders of Islamic banking should strive collectively to solve these challenges. Nevertheless, Islamic banking was able to maintain and manage capital and liquidity buffers. The growth for 2021 is expected to remain stable for at least a single-digit growth. However, there would be asset-quality and profitability pressure for Islamic banks within the Sultanate of Oman. This paper highlights the performance of Islamic banking in Oman amid the Covid-19 outbreak. This paper demonstrates that the industry merely recorded a single-digit growth compared to the last seven years at double-digit growth due to the pandemic. The paper further delineates on the prospects and challenges of Islamic Banks Entities (IBEs). It also suggests some practical solutions for survival. This paper contributes to providing an alluded picture of the current conditions and situation of Islamic banks in Oman as well as insights to deal with the challenges to enhancing the banking performances during the Covid-19 outbreak. ]]>
<![CDATA[Technology Readiness and Digital Competing Capabilities: Digital Value Resonance ]]>
<![CDATA[Panjaitan, Roymon]]>;
<![CDATA[Moonti, Agustinus]]>;
<![CDATA[Adam, Echan]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 2 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i2.385
<![CDATA[The digital economy for MSMEs still possesses complex problems in the debate over technology readiness and competitive digital capabilities. The increase of dynamic product innovation changes is only effectively supported by digital value resonance. Addressing this issue, this research aims to explore the readiness of technology and the ability to compete digitally for innovative products through the resonance of digital value, especially for multi-business businesses. The data were collected from 170 respondents of small and medium-sized businesses through questionnaires. SEM-PLS techniques were used to analyze the data with a path mediated by digital value resonance on product innovation. The results showed that the resonance of digital value successfully mediated the relationship of technological readiness and digital competing capabilities, as well as direct links to the improvement of innovative products. Digital consumer habits also successfully strengthened the relationship of technological readiness and digital competing capabilities on the resonance of digital value. The advantages of this research lie in the synthesis of proposed digital value resonance variables from the results of resource-based view theory propositions in bridging the previous researcher gaps and contributing as a conceptual novelty model that can personalize digital value in the level of competition and increase MSMEs innovation products.]]>
<![CDATA[Determinants of Online Zakat Intention amongst Muslim Millennials: An Integration of Technology Acceptance Model and Theory of Planned Behavior ]]>
<![CDATA[Ninglasari, Sri Yayu]]>
<![CDATA[ Shirkah: Journal of Economics and Business Vol 6, No 2 (2021) ]]>
Publisher : <![CDATA[IAIN Surakarta ]]>
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DOI: 10.22515/shirkah.v6i2.387
<![CDATA[Today’s modern civilization has resulted in the crucial role of technology in human life, including financial matter. Integrating Technology Acceptance Model (TAM) and Theory of Planned Behavior (TPB), this study sheds some light on the determinants of Muslim millennials’ intention in performing zakat payment using Financial Technology (Fintech). An online questionnaire survey was conducted to gather the required data from a group of Indonesian Muslim millennials. Employing purposive sampling technique, the sample consisted of 200 respondents. The data were analyzed with the assistance of Structural Equation Model - Partial Least Square (SEM-PLS). The results demonstrated that perceived ease of use and perceived usefulness positively and significantly affected the respondents’ attitudes. Moreover, attitudes, subjective norms, and perceived behavioral control significantly affected the intention of using Fintech to perform zakat payment. The results further revealed that there was no direct influence between perceived ease of use and perceived usefulness on the respondents’ intention to use Fintech. However, it had an indirect effect by the mediation of attitude variable. As a theoretical implication, this study contributes to the literature enhancement in the discourse of TAM and TPB models in zakat context. Practically, it assists zakat management institutions recognize the Muslim millennial community and develop digital zakat payment platforms.]]>
