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Journal of Islamic Accounting and Finance Research
Published by Universitas Islam Negeri Walisongo Semarang
ISSN : 27150429     EISSN : 27148122     DOI : -
Core Subject : Religion, Economy,
Religion Economics, Econometrics & Finance
Journal of Islamic Accounting and Finance Research (JIAFR) is a peer-reviewed journal published twice a year (April and October) by the Department of Sharia Accounting Faculty of Islamic Economics and Business, Universitas Islam Negeri (UIN) Walisongo Semarang Indonesia. JIAFR aims to publish articles in the field of Islamic Accounting and Finance that provide a significant contribution to the development of accounting practices and professions in Indonesian even the world. JIAFR accepts both quantitative and qualitative approaches by English Language manuscripts relating to Islamic Financial Accounting, Management Accounting, Taxation, Islamic Behavior Accounting, Accounting Information System, Auditing, Public Sector Accounting, and Islamic Financial Performance.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 14 Documents
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Search results for , issue "Vol. 6 No. 2 (2024)" : 14 Documents clear
Mergers and acquisitions in OIC countries: the role of strategic similarity in bank performance Nisa, Raudhatun; Laela, Sugiyarti Fatma; Shah, Mohamed Eskandar
Journal of Islamic Accounting and Finance Research Vol. 6 No. 2 (2024)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.2.21978

Abstract

Purpose - This research aims to evaluate the impact of strategic similarity on M&A performance in banking within OIC countries. The study investigates how strategic alignment influences M&A outcomes and explores the role of cultural fit, cross-border factors, and capital adequacy in shaping post-merger success.Method - A quantitative approach is used in this study, using secondary data from annual reports of banking institutions in OIC member countries that experienced mergers and acquisitions from 2013 to 2022. This study uses 38 M&A transaction data obtained from Bank Focus. The hypothesis is tested using a partial least squares structural equation model.Result - The finding reveals that the strategic similarity factor could not explain the success of M&A performance for both Islamic and conventional banks. Cultural misalignment and cross-border regulatory issues are key factors affecting post-merger success. The one-year observation period was too short, but capital adequacy was found to influence performance significantly.Implication - Theoretically, models of M&A success should include cultural and regulatory dimensions and consider a longer-term view. Managers should prioritise cultural integration, address regulatory challenges, and align capital adequacy strategies to improve post-merger outcomes and resilience.Originality - This research discussed the factors determining successful M&A performance in banks in OIC countries. The findings can be used to develop insights into mergers and acquisitions in the banking sector.
The impact of the Russia-Ukraine conflict on market volatility: stability of Islamic cryptocurrency Hasyim, Fuad; Rusgianto, Sulistya; Setianingsih, Hesti Eka; Fauziah, Nurul; Ramly, Arroyan
Journal of Islamic Accounting and Finance Research Vol. 6 No. 2 (2024)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.2.22363

Abstract

Purpose - This research investigates how the Russia-Ukraine conflict affects the volatility of cryptocurrencies, with a specific focus on the comparative stability of Islamic gold-backed cryptocurrencies versus conventional cryptocurrencies, such as Bitcoin.Method - Utilizing the GARCH model, this study examines the risk factors and volatility transmission among cryptocurrencies (Bitcoin and Tether-gold), traditional financial markets (gold and stock markets), and their interrelationships during the conflict period. The study employs the daily closing prices of Bitcoin, Tether-gold, gold, the S&P 500, and the Dow Jones Islamic Market Index from February 7, 2020, to November 30, 2023.Result - Bitcoin experienced significant volatility during the conflict, while the Tether-gold remained more stable. Islamic gold-backed cryptocurrencies have proven to be more stable than conventional ones during geopolitical crises.Implication - The findings offer valuable insights for investors seeking safe-haven assets during periods of economic uncertainty. Gold-backed cryptocurrencies present a more stable investment option compared to conventional cryptocurrencies, especially for investors adhering to Shariah principles.Originality - This research highlights the stability of Islamic gold-backed cryptocurrencies during geopolitical events, contributing to the understanding of safe-haven assets and offering practical implications for portfolio diversification and risk management.
Deconstruction of basic accounting principles through the values of sufism in the Syarah Ḥikam by Sheikh Aḥmad Zarrūq Rifqiawan, Raden Arfan; Ghofur, Abdul; Murtadho, Ali; Agriyanto, Ratno; Warno, Warno
Journal of Islamic Accounting and Finance Research Vol. 6 No. 2 (2024)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.2.22984

Abstract

Purpose - The purpose of this study is to deconstruct the basic principles of accounting, which are often viewed as overly materialistic, by integrating seven Sufi values from the Syarah Ḥikam by Sheikh Aḥmad Zarrūq. This research seeks to create a more balanced accounting paradigm integrating financial gains with moral, social, and spiritual responsibilities.Method - This research utilizes a literature review method with a Derridean deconstruction approach, combining the text of Syarah Ḥikam with accounting literature. The deconstruction process involves identifying the material-spiritual binary to explore the integration of Sufi values into accounting principles.Result - The study's results show that integrating Sufi values strengthens the moral and justice aspects of accounting. This creates a more holistic approach that balances financial profit with spiritual and social responsibilities.Implication - This research has implications for the development of a more ethical and sustainable accounting system that balances material gain with moral and spiritual responsibilities relevant to both business and social practices.Originality - This study is unique in its use of classical Sufi texts to deconstruct the basic accounting principles. This novel approach in modern accounting studies has yet to be widely explored. By integrating spiritual values into accounting, this approach is expected to complement and enrich the current accounting perspectives, aiming not merely for fairness but for truth, fostering a better balance between material aspects and moral, social, and spiritual responsibilities.
Ethical values of public accountant: a critical perspective of rational-religious of Hamka Muhammad, Erfan; Sudarma, Made; Djamhuri, Ali; Adib, Noval; Eliwa, Yasser
Journal of Islamic Accounting and Finance Research Vol. 6 No. 2 (2024)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.2.23095

Abstract

Purpose - This study explores business practices in public accounting firms, particularly in East Java, along with ethical issues raised by the practices.Method - This study applied a qualitative approach in which data were collected through in-depth interviews with 12 public accountants from various public accounting firms. Then, the data were analysed based on a rational-religious perspective as suggested by Buya Hamka.Result - The findings of this study indicated many ethical concerns in public accountant practices, despite they comprehend about ethical standards contained in the professional code of ethics. All those problems were actuated by the financial fulfillment of the public accountant, which deviated from ethical values as signified by Hamka.Implication - Public accountants should implement Hamka’s virtues in professional practices as a reflection of Islamic principles.Originality - This research is the first study that used the virtues of Buya Hamka in public accountant practices.

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