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Al-Kharaj: Journal of Islamic Economic and Business
Published by Institut Agama Islam Negeri Palopo
ISSN : 2686262X     EISSN : 26859300     DOI : 10.24256/kharaj.v4i2
Core Subject : Economy,
Economics, Econometrics & Finance
Al-Kharaj, Journal of Islamic Economic and Business is peer-reviewed journal published by program studi ekonomi syariah , Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Islamic Economic and Business. The aims of this journal is to explore and develop economic related to Islamic and Business. This Journal welcomes contributions from researchers in related diciplines.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 1,062 Documents
 103   104   105   106   107 
From Financial Access to Capability Expansion: A Structured Systematic Literature Review on Women, Microfinance, and Poverty Reduction Bakri, Adzan Noor; herawati, Fahira; samsir, aziza
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10106

Abstract

Microfinance has long been promoted as a pathway to women’s empowerment and poverty reduction, yet the empirical literature remains fragmented across financial access, empowerment outcomes, and welfare effects. Much of the existing evidence documents changes in income, savings, household decision-making, and livelihood conditions, but fewer studies explain how access to financial resources is translated into substantive freedoms and valued ways of living. This study aims to synthesize empirical research on women, microfinance, and poverty reduction through the lens of Amartya Sen’s Capability Approach. Using a structured systematic literature review, this article reviews peer-reviewed empirical studies on women’s participation in microfinance, self-help groups, and related community-based financial mechanisms. The findings indicate that microfinance is associated with positive changes in income stability, household welfare, mobility, access to public services, social participation, and decision-making. However, these outcomes are neither automatic nor uniform. Their realization depends on a range of conversion factors, including household power relations, socio-cultural norms, institutional design, training opportunities, and infrastructural conditions. The review further shows that while the literature is rich in empowerment indicators, it remains relatively weak in explicitly capability-based analysis. This article contributes a capability-oriented synthesis that explains not only whether microfinance matters for women’s poverty reduction, but also how financial access is converted into capabilities, valued functionings, and uneven development outcomes. The study implies that microfinance policies should be assessed beyond outreach and repayment rates, with greater attention to capability expansion and the enabling conditions that allow women to transform financial access into meaningful well-being.
An Analysis of The Roles of Key Players In The Governance of Civil Service Neutrality During The 2020 South Sumatra Regional Elections Shelly Aulia Ramadhanti; Andy Alfatih; Katriza Imania
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10108

Abstract

This research focuses on the extent to which the neutrality of the Aparatur Sipil Negara (ASN) is achieved through the implementation of the Pemilihan Kepala Daerah 2020 (Pilkada) which were held simultaneously in almost all regions of Indonesia. This is considering that the neutrality of ASN can be said to be one of the keys to success in holding honest and fair general elections. In conducting a further review of the implantation of ASN Neutrality in the 2020. Pilkada which is analyzed based on the theory put forward by Sarah and Steve (1997). The method used in this research is descriptive qualitative with an inductive approach. Data collection techniques, documentation, and observation with 4 research informants, namely from Bawaslu Provinsi Sumatera Selatan and Komisi Aparatur Sipil Negara. In conclusion, the ACTORS analysis in responding to reports of violations of ASN neutrality is reviewed from the theory put forward by Sarah Cook and Steve (1997) based on the dimensions of Authority, Confidence and Competence, Trust, Opportunities, Responsibilities, and Support have an impact on the success of following up ASN neutrality in South Sumatera. The advice that the author can give is that those who have the authority to determine the appointment, transfer and dismissal of ASN are no longer political officials, that is but the highest career officials in the region.
Stock Investment Risk Analysis Using the Value at Risk (VAR) Method Siti Aisyah; Abdul Wahab; Marjono; Prayetno; Nicholas Renaldo
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10123

Abstract

This study aims to analyze stock investment risk using the Value at Risk (VaR) method with a qualitative approach. The main focus of the study is to understand how investors interpret risk and how the VaR concept is understood and applied in investment decision-making practices. The research method used is a descriptive qualitative approach with data collection techniques through in-depth interviews, observation, and documentation. Informants in this study were selected through purposive sampling, namely stock investors who have experience in investment activities and a basic understanding of risk. Data analysis was conducted using an interactive analysis model that includes data reduction, data presentation, and conclusion drawing, with data validity maintained through triangulation and member checks. The results show that most investors have recognized the importance of risk in stock investment, but understanding of the Value at Risk (VaR) method is still uneven. Investors with a financial background tend to better understand and utilize VaR in determining risk tolerance limits and investment strategies, while other investors rely more on an intuitive approach. There is a gap between the theoretical concept of VaR and its implementation in the field, caused by the complexity of the calculation, limited financial literacy, and psychological factors such as emotions and speculative behavior. Nevertheless, VaR still holds significant potential as a risk management tool if supported by adequate understanding and the use of financial technology. In conclusion, the application of the Value at Risk (VaR) method in stock investment is still suboptimal, but it has high relevance in helping investors manage risk more measurably. This research contributes to the understanding of risk management practices from an investor behavioral perspective and emphasizes the importance of integrating technical and psychological approaches in investment decision-making.
Implementation of Circular Economy Practices in Sustainable Business Models: Evidence from a Home-Based Convection Industry P Hadad , Dharmawan; Noviarti; Setiawan, Yuli; Rifandi , Teguh
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10127

Abstract

This study aims to analyze the implementation of circular economy practices in a home-based convection industry and examine their contribution to sustainable business development and the promotion of green lifestyles within the surrounding community. Methods: This study employs a qualitative research approach with a case study design focusing on Konveksi Mande. Data were collected through in-depth interviews, observation, and documentation involving key informants, operational employees, and community members. The data were analyzed using qualitative techniques, including data reduction, data display, and conclusion drawing. Results: The findings indicate that circular economy practices have been implemented through the 5R principles, namely reduce, reuse, recycle, recovery, and repair, although the level of implementation varies. The reduce principle is strongly applied through material efficiency and production control, while reuse, recycle, and recovery are implemented at a moderate level through waste collection and collaboration with external parties. However, the repair principle has not yet been implemented, indicating limitations in internal innovation capabilities. The implementation of these practices contributes to environmental sustainability by reducing textile waste, generating economic benefits through additional income, and enhancing social awareness by encouraging green lifestyle adoption. Implications: This study provides practical implications that SMEs can adopt simple and feasible circular economy practices to support sustainability and contribute to the literature by highlighting the role of small-scale industries in promoting circular economy and green lifestyles. Future research is recommended to explore innovation strategies and apply quantitative approaches to strengthen the generalizability of findings.
Gender-Based Regional Planning in Poverty Alleviation in the Strategic Area of Subosukawonosraten, Central Java Marina Ramdhani Ciptaningtyas; Bhimo Rizky Samudro; Sarjiyanto; Arif Rahman Hakim
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10154

Abstract

This study aims to examine the effects of women’s parliamentary representation, the Gender Development Index (GDI), regional gross domestic product (GDP) per capita, and female labor force participation on poverty reduction in the Subosukawonosraten strategic region of Central Java. The study hypothesizes that all independent variables negatively influence poverty. The research employs a quantitative approach using panel data from seven districts/cities over the period 2012–2024. A Random Effect Model (REM) regression is applied after conducting model selection tests, including the Breusch–Pagan LM, Chow, and Hausman tests. The data are obtained from official statistical publications, and variables include poverty rate, women’s representation, GDI, GDP per capita, and female labor participation. The results indicate that women’s parliamentary representation (coefficient = −1.047; p = 0.001) and GDP per capita (coefficient = −1.312; p = 0.000) have a significant negative effect on poverty, confirming their critical role in poverty alleviation. In contrast, GDI and female labor force participation show no statistically significant direct effects, suggesting their influence may be indirect or mediated by other factors. These findings imply that strengthening women’s political participation and promoting regional economic growth are effective strategies for reducing poverty. Policymakers should integrate gender-inclusive governance with economic development programs. Future research is recommended to incorporate mediating variables and mixed-method approaches to better capture the complex dynamics of gender and poverty.
Evaluation of the Implementation of Blockchain Technology in Financial Transactions in the Public Sector: Systematic Literature Review Arviona Zahra Sophia; Lulus Kurniasih
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10172

Abstract

Blockchain technology is increasingly seen as a disruptive instrument in strengthening transparency and accountability in public financial management, especially in the midst of increasing demands for clean and responsive governance, but its implementation still faces conceptual and empirical gaps related to effectiveness and institutional readiness. This study aims to systematically evaluate the application of blockchain in the context of public finance by identifying key benefits, structural challenges, and best practices that are developing in the global literature. The method used is a Systematic Literature Review (SLR) based on the PRISMA protocol with the main data source from the Scopus database, resulting in 30 selected articles that were analyzed through a bibliometric approach and qualitative content analysis to map research trends and dominant themes. The results show that blockchain significantly increases transparency through a distributed and immutable system of record, as well as strengthens accountability through automated verification mechanisms, although its implementation is constrained by regulatory complexity, digital infrastructure limitations, and organizational resistance. In addition, the literature review is still dominated by the issue of transparency and technological innovation, while the audit and corruption prevention dimensions are relatively underexplored. This study concludes that blockchain has strategic potential in transforming public financial governance, but its success is highly dependent on the readiness of the regulatory ecosystem, technological capacity, and stakeholder acceptance. The implications of this study include strengthening integration between governance theory and technology adoption, as well as providing a strategic framework for policymakers in optimizing blockchain implementation
Analysis of the Success and Acceptance of ERP SAP Implementation Using an Integrated UTAUT3 and DeLone & McLean (D&M) Model at PT Semen Padang Yanuardi; Pujiani, Vera; Alfitman
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10174

Abstract

This study aims to analyze the determinants of User Satisfaction and its influence on Net Benefit in the implementation of SAP ERP at PT Semen Padang. The research model integrates UTAUT3 (Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Condition) with the DeLone & McLean IS Success Model (Information Quality, System Quality). A quantitative approach was applied using a Likert-scale survey distributed to 251 active SAP users from various job levels, with data analyzed using Structural Equation Modeling (SEM) based on Confirmatory Factor Analysis (CFA) in AMOS. The results indicate that Performance Expectancy (β = 0.256; p < 0.001), Effort Expectancy (β = 0.357; p < 0.001), Facilitating Condition (β = 0.189; p = 0.006), Information Quality (β = 0.262; p < 0.001), and System Quality (β = 0.179; p = 0.009) have a significantly positive effect on User Satisfaction, whereas Social Influence (β = 0.055; p = 0.410) is not significant. Furthermore, User Satisfaction shows a significant positive influence on Net Benefit (β = 0.183; p = 0.020). The structural model demonstrates a good level of model fit across multiple goodness-of-fit indices and model stability based on Hoelter’s Critical N. These findings confirm that expected performance, ease of use, technical support conditions, and both information and system quality are key determinants of User Satisfaction. The practical implications encourage the organization to continuously improve system and information quality, strengthen technical support, and enhance user competency to maximize the value of SAP ERP in supporting operational performance and strategic decision-making at PT Semen Padang.
The Effect of ESG Disclosure on Financial Performance and Company Value With an Independent Board of Commissioners As A Moderation in JII Companies Putri Wahyuni; Rahma Wijayanti
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10179

Abstract

This study aims to obtain empirical evidence regarding the effect of Environmental, Social, and Governance (ESG) disclosure on financial performance projected by Return on Assets (ROA) and firm value projected by Tobin’s Q. Furthermore, this study aims to examine the role of Independent Commissioners as a moderating variable in the relationship between ESG disclosure on financial performance and firm value in issuers listed on the Jakarta Islamic Index (JII). This research uses a quantitative approach with secondary data obtained from annual reports and sustainability reports. The population in this study are companies listed on the Jakarta Islamic Index (JII) for the 2022-2024 period. The sampling technique used purposive sampling method. Data analysis was performed using multiple linear regression techniques and Moderated Regression Analysis (MRA) to test the moderation effect with the help of statistical software. The results of this study are expected to contribute academically regarding the importance of ESG disclosure in increasing the value and performance of Sharia companies in Indonesia. The findings of this study are predicted to prove the positive influence of ESG on profitability (ROA) and market response (Tobin’s Q), as well as confirming the effectiveness of Independent Commissioners in strengthening these relationships to mitigate greenwashing risks.
Forging Brand Commitment through Service Quality and Customer Experience: The Moderating Role of Customer Trust Masse, Ambo; Ami Nurhayati; Astil Harli Roslan; Nofal Supriaddin; Syahra
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10185

Abstract

This study aims to analyze the influence of service quality and customer experience on brand commitment, with brand image as a mediating variable and customer trust as a moderating variable among car customers in Kendari City. Methods: This study employed an explanatory quantitative approach. Methods: This study employed an explanatory quantitative approach. A total of 200 car customers in Kendari City were selected using purposive sampling. Data were collected through a structured questionnaire and analyzed using Structural Equation Modeling based on Partial Least Squares (SEM-PLS). Results: The findings indicate that service quality and customer experience have significant effects on brand image and brand commitment. Brand image was found to mediate the relationship between service quality, customer experience, and brand commitment. In addition, customer trust significantly strengthens the effect of brand image on brand commitment. These results show that better service quality and more positive customer experience contribute to stronger brand image and higher customer commitment to the brand. Implications: The results suggest that automotive companies need to improve service quality, create positive customer experiences, strengthen brand image, and build customer trust to sustain long-term customer relationships. This study is limited to car customers in Kendari City and uses a cross-sectional design. Therefore, future studies are recommended to expand the research area, apply a longitudinal design, and include other relevant variables to provide a more comprehensive understanding of brand commitment
Auditor Competence and Audit Quality on Organizational Performance: The Moderating Role Of Extrinsic Rewards Akbar, Ichsanuddin; Rohsita Amalyah Rasyid; Syahrir; Arifin; Astil Harli Roslan
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): SettingsVol. 8 No. 1 (2026): All articles in this issue include authors from 3
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10186

Abstract

This study examines the effect of upper management support on audit quality and auditor competence, as well as their impact on organizational performance, with extrinsic rewards as a moderating variable. Methods: This research employs a quantitative, explanatory design using a cross-sectional approach. The study was conducted on 240 auditors in Southeast Sulawesi using a census method. Data were collected through structured questionnaires measured on a five-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Results: The results show that upper management support has a positive and significant effect on audit quality and auditor competence. Furthermore, audit quality and auditor competence significantly influence organizational performance. However, extrinsic rewards do not moderate the relationships between audit quality and organizational performance, nor between auditor competence and organizational performance. Implications: These findings imply that organizational performance is more influenced by internal structural support and professional competence than external reward systems. Future research is suggested to explore other moderating variables to better explain performance improvement

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