cover
Contact Name
Muhammad Muhajir Aminy
Contact Email
azeer.elkhawarizm@uinmataram.ac.id
Phone
+628970990790
Journal Mail Official
jed@uinmataram.ac.id
Editorial Address
Jl. Gajah Mada No. 100 Jempong Baru, Kec. Sekarbela, Kota Mataram, NTB, Indonesia
Location
Kota mataram,
Nusa tenggara barat
INDONESIA
Journal of Enterprise and Development (JED)
ISSN : 27153118     EISSN : 26858258     DOI : https://doi.org/10.20414/jed
Core Subject : Economy,
Journal of Enterprise and Development (JED) (p-ISSN: 2715-3118/ e-ISSN: 2685-8258) is an international peer-reviewed journal that publishes high-quality research in economics, finance, management, entrepreneurship, and tourism, with a particular focus on enterprise development, innovation, public policy, and sustainable economic development. The journal promotes theoretically grounded, methodologically rigorous, and policy-relevant scholarship that contributes to academic debate and practical understanding of development issues in both emerging and developed economies.
Articles 261 Documents
Interconnected economies: Assessing the impact of major global stock exchanges and macroeconomic factors on the Indonesian stock market Abdul Latif; Zulfa Zakiatul Hidayah; Dian Rachmawati Afandi
Journal of Enterprise and Development (JED) Vol. 6 No. 1 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i1.9463

Abstract

Purpose — The purpose of this study is to examine the influence of global stock exchanges indices—the Dow Jones Industrial Average (DJIA) index, the Shanghai Stock Exchange (SSE) index, and the Nikkei 225 (N225) index—and macroeconomic variables (exchange rate and inflation) on the movement of the Jakarta Composite Index (JCI).Method — The data analysis method used in this study is quantitative causality with the GARCH model technique. The samples include the JCI, global stock exchanges (DJIA, SSE, N225) indices, and macroeconomic variables (exchange rate, inflation) based on monthly secondary data from 2017 to 2022, encompassing 72 months of observation.Result — The results showed that the global stock market variables of the DJIA and the SSE indices had a significant positive effect, while the N225 index had a significant effect on the JCI. Regarding macroeconomic variables, the exchange rate had a significant negative effect, whereas inflation did not affect the JCI.Novelty  — The novelty of this research, compared to previous studies, lies in the more recent research period, which spans from 2017 to 2022, and the inclusion of inflation variables, which have not been explored in prior studies.
Waqf for welfare: A bibliometric analysis of research trends in Scopus-indexed journals Nonie Afrianty; Asnaini Asnaini; Muthi Adilah Bahril
Journal of Enterprise and Development (JED) Vol. 6 No. 1 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i1.9480

Abstract

Purpose — This study aims to analyze the map and direction of research development in the field of waqf for welfare improvement in Scopus-indexed publications.Method — This research employs a quantitative approach. The population for this study consists of articles indexed by Scopus from 2014 to 2023, with a sample size of 77 articles focused on waqf for welfare improvements. The analysis technique applied in this study involves bibliometric analysis, utilizing the VOSviewer application.Result — The results indicate a rise in the average number of publications per year. The peak productivity in waqf for welfare themes occurred in 2019, with 15 studies identified. In the realm of research on waqf, cash waqf, and Malaysia emerge as the most prevalent themes for welfare improvement. Three clusters were identified: cash waqf for maximizing prosperity in society and economics, the opportunities and threats of cash waqf, and the beneficiaries of waqf, impacting not only individuals but also the state.Novelty  — This study represents the first bibliometric review focusing on the specific theme of waqf for welfare development, aiming to fill gaps in existing research.
Examining determinants of women’s labor participation rate in developing Asian countries Febriano Aulia Nur Rahmawan; Siti Aisyah
Journal of Enterprise and Development (JED) Vol. 6 No. 1 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i1.9542

Abstract

Purpose — The study aims to analyze the impact of women's involvement in parliament, women's education, fertility rates, female unemployment, and female entrepreneurship on the female labor participation rate in developing countries in Asia.Method — This research is quantitative study utilizing secondary data obtained from the World Bank Indicators. The data collection involves documentation and literature review. The methodology employed is panel data analysis with a Fixed Effects Model (FEM) for six developing countries in the Southeast Asia and East Asia region for the period of 2011 to 2021. The data are processed using the Eviews 10 application.Result — Our findings indicate that women's involvement in parliament has a positive and significant impact on the female labor participation rate. Conversely, the female unemployment rate has a negative and significant effect on the female labor participation rate. Meanwhile, women's education, fertility rate, and female entrepreneurship show no significant impact on the female labor participation rate.Novelty  — While a number of studies have explored the factors influencing the female labor participation rate, research on labor force participation rates in Southeast and East Asia has yielded inconsistent results. Hence, there is a need for further investigation to fill this knowledge gap, providing a deeper understanding of the factors influencing the female labor participation rate in the context of developing nations.
Can the behavioral agency model refine a standard agency theory? Muhammad Masyhuri
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9695

Abstract

Purpose — The existence of agency problems is widely recognized in various academic fields. Nevertheless, as argued by many scholars, agency theory has obvious shortcomings both theoretically and empirically. The aim of this study is to analyze and compare the conventional Standard Agency Theory (SAT) and the Behavioral Agency Model (BAM) as a refined framework of an agency model.Method — The methods used for this study were descriptive analysis, involving the review and comparison of the work of Wiseman & Gomez-Mejia (1998) and Pepper & Gore (2015). The technique employed and proposed for this method is to analyze and compare the relevant elements between SAT and BAM.Result — It is found that BAM can provide a better framework for modifying and understanding such agency problems in organizations, particularly in terms of human factors, organization, and information assumptions that are considered to balance the roles of the principal and the agent as actors in the organization.Contribution  — This study contributes to the body of knowledge by refining the old and conventional standard agency theory (SAT) and introducing BAM as a new concept. BAM sheds light not only on the roles of actors and organizations but also on the application of a behavioral economics approach to provide a robust and rigorous method for analyzing "agency problems" in organizations, especially in private business families around the world.
Productive zakat distribution in improving mustahik welfare: CIBEST model approach Sinta Octavia Fabber Karunia; Faizal Amir
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9723

Abstract

Purpose — This research aims to determine the positive impact of the productive zakat program on Mustahik's welfare through increasing income and spiritual well-being and reducing poverty levels.Method — We employed a purposive sampling method in our sampling technique. The criteria for respondents selected as samples in this study were mustahiq, who received zakat from BAZNAS and were Muslim. The data for this research were obtained by distributing questionnaires directly through visits to Mustahiq's homes. The collected data were then processed using the Wilcoxon test and CIBEST model analysis. The Wilcoxon test determined the average difference in income before and after receiving zakat. Meanwhile, the CIBEST model was used to evaluate Mustahik's welfare.Result — The findings of this research show that mustahik recipients of productive zakat assistance can improve their financial conditions and materially enhance their circumstances. Overall, the research results confirm that the BAZNAS effective zakat program has had a positive impact on Mustahik's welfare, by increasing income, spiritual well-being, and reducing poverty levels.Practical implications  — The distribution of productive zakat must continue to be improved, both in terms of the quality of its management and the utilization of abundant zakat funds, to achieve a more optimal positive impact on Mustahik's welfare.
Impact of stock market liquidity and external factors on herding behavior in the Amman Stock Exchange Raneem Ghazi Aldeki
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9761

Abstract

Purpose — The research investigation was centered on the potential for herding behavior in the Amman Stock Exchange. The major goal of the current investigation is to identify any herding behavior that may occur, including behavior caused by liquidity and global factor drivers (such as oil prices and Fed fund rates).Method — The study employed the quantitative research method. The sample consists of 50 observations from 171 companies, and the data were collected from monthly records spanning January 2019 to March 2023. The Generalized Method of Moments (GMM) and a deductive approach were utilized in the quantitative methodology of this study.Result — At this stage, employing a CSSD regression analysis makes it possible to observe evidence of herding behavior in the left tail. The study also found no evidence suggesting that stock market liquidity affects herding behavior in the right tail during periods of both high and low liquidity. However, it did find evidence indicating that liquidity affects herding behavior in the left tail. The Amman capital market has demonstrated that herding behavior is not significantly influenced by global factors.Practical implications  — This study suggests that the Amman Stock Exchange should make information accessible to all investors to encourage them to take an active role in making their own investment decisions.
Exploring entrepreneurial literacy knowledge transfer among women farmers group Citra Ayni Kamaruddin; Muhammad Hasan; Nur Arisah
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9795

Abstract

Purpose — This research aims to explore the entrepreneurial literacy possessed by the women farmers group.Method — This research employs a qualitative approach utilizing a case study method specifically focused on the women farmers group. The informants in this study consist of two individuals from the women farmers group in Buntusu District, Tamalanrea Regency, namely the Chair and Secretary. Data collection techniques include observation and interviews. Data analysis involves testing data validity through time triangulation and reflexivity processes.Result — The findings of this study demonstrate four dimensions essential for assessing entrepreneurial literacy within the women farmers group. These dimensions encompass: (1) decision-making proficiency, (2) adeptness in selecting viable business strategies, (3) competence in managing and allocating financial resources, and (4) proficiency in transforming agricultural outputs into commercially viable products.Practical implications — This study serves as a basis for the development of government policies aimed at empowering women farmers group to enhance the productivity of urban land for agricultural purposes, meeting the community's needs, particularly for food products.
Random walk tests for the MENA stock returns Zeravan Abdulmuhsen Asaad; Bayar Mohamed Rasheed Omer
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9819

Abstract

Purpose — The current study seeks to understand whether individual stock returns exhibit random movement and are not dependent (efficient at weak form) on fourteen out of sixteen actively traded Arab stock markets in the Middle East and North Africa (MENA) region, based on the size of the market value.Method — Various non-parametric methods, including autocorrelation test, variance ratio test, Phillips-Perron unit root test, and runs test, are used to assess the random walk hypothesis for daily data following the Covid-19 vaccination program. This analysis covers the period from January 3, 2021, to March 28, 2023.Result — The study results present evidence that all individual stock returns deviate from random walk behavior. However, only Kuwait, Jordan, and Palestine stock returns follow the random walk based on the run test results at a significance level of 10%. Therefore, it can be concluded that all stock returns are inefficient at the weak-form, suggesting that investors have opportunities for unexpected gains.Practical implications  — The findings of this study suggest that investors in the MENA region may have opportunities for unexpected gains, as individual stock returns deviate from random walk behavior, highlighting the importance of considering market dynamics and employing informed investment strategies. Additionally, policymakers could benefit from understanding the inefficiencies in stock returns to implement measures that promote market stability and efficiency.
Financial technology, financial knowledge, and financial attitude of Generation Z: Determinants of financial behavior Febrio Andi Prasetyo; Mustaqim Mustaqim
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9836

Abstract

Purpose — The aim of this study is to examine the influence of financial technology, financial literacy, and financial attitudes on the financial behavior of Generation Z  within the framework of Society 4.0.Method — This quantitative descriptive research utilizes a questionnaire-based data collection approach distributed online through Google Forms to university students in Sidoarjo. A total of 94 responses were gathered from the questionnaire distribution. Subsequently, to discern the individual impacts, the data from the questionnaire were subjected to analysis employing t-tests and multiple linear regression using SPSS version 2.1.Result — This study reveals that financial technology has an influence on the financial behavior of college students, while financial literacy affects their financial behavior. Additionally, financial attitudes also impact their financial behavior.Practical implications  — This study suggests a pressing need for educational institutions to enhance financial education programs, integrating concepts from behavioral finance and emphasizing practical application, to improve students' understanding of financial behavior and decision-making for effective personal financial management.
Typological analysis of community participation for sustainable tourism in Sasak Ende Tourism Village Arief Purnama Ajie; Lastiani Warih Wulandari; Isdarmanto Isdarmanto
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.9904

Abstract

Purpose  — The purpose of this study is to analyze community participation in Sasak Ende Tourism Village in managing and designing sustainable tourism development strategies based on the results of typological analysis of community participation.Method — This study employs qualitative methods utilizing primary and secondary data sources. Data were gathered through observation, interviews, and documentation. We interviewed informants from the Central Lombok Tourism Office, the Managing Secretary of Sasak Ende Tourism Village, and Pujut Regency. Furthermore, triangulation analysis techniques were utilized in this study to assess the validity of the data.Result — Based on the analysis, three levels of community participation were identified in Sasak Ende Tourism Village: material incentive participation, interactive participation, and independent mobilization. Community participation activities in Sasak Ende Tourism Village adhere to socio-cultural, economic, and environmentally sustainable tourism principles. The strategy employed focuses on developing human resources (HR) and preserving Sasak traditional houses. The analysis results in a sustainable tourism development strategy for Sasak Ende Tourism Village based on the typology of participation and the principles of sustainable tourism.Practical implications — This study suggests that fostering various levels of community participation and aligning tourism development strategies with socio-cultural, economic, and environmental sustainability principles can lead to the preservation of cultural heritage and sustainable growth in destinations like Sasak Ende Tourism Village.