cover
Article Per Year (5 Year)
All
Home Page
OAI Link
Editorial Team
Contact
Reviewer
Google Scholar
Contact Name
Ade Nur Rohim
Contact Email
adenurrohim@upnvj.ac.id
Phone
+6285259575940
Journal Mail Official
jiefes@upnvj.ac.id
Editorial Address
Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta Jl. RS Fatmawati No. 1, Pondok Labu, Jakarta Selatan 12450
Location
Kota depok,
Jawa barat
INDONESIA
Journal of Islamic Economics and Finance Studies
Published by Universitas Pembangunan Nasional Veteran Jakarta
ISSN : 27236730     EISSN : 27236749     DOI : -
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
Journal of Islamic Economics and Finance Studies (JIEFeS) is a peer-reviewed journal published twice a year, in June and December by the Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta, Indonesia. The journal accepts scientific articles in the form of research results and theoretical or conceptual papers, written in standard Indonesian or English. JIEFeS particularly focuses on the main issues and studies in Islamic Economics and Finance areas. It covers Islamic Economics, Islamic Banking and Finance, Islamic Microfinance, Islamic Philanthropy (Zakah and Waqf), and Halal Economy.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 117 Documents
 8   9   10   11   12 
Islamic Banking in Indonesia: Assessing the Impact of Economic Turbulence and Market Dynamics on Credit Portfolios Mubarok, Faizul; Wibowo, Martino; Utomo, Kabul Wahyu; Rahman, Saif Ur
Journal of Islamic Economics and Finance Studies Vol 6 No 1 (2025): JIEFeS, June 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i1.10937

Abstract

Indonesia’s Islamic banking sector has experienced rapid expansion in recent decades; however, credit growth within this sector remains volatile and insufficiently explored, particularly in relation to broader macroeconomic fluctuations. This study addresses this knowledge gap by investigating the key macroeconomic and financial determinants influencing credit growth in Islamic banks. It is driven by the need to understand how external shocks and policy variables affect Islamic financing behavior. Utilizing monthly data from 2002 to 2023, the study employs a Vector Error Correction Model (VECM), Impulse Response Function (IRF), and Forecast Error Variance Decomposition (FEVD) to analyze both short- and long-term dynamics. The VECM results reveal a long-run equilibrium relationship between Islamic credit growth and macroeconomic indicators, including GDP, inflation, and interest rates. This finding suggests that Islamic credit, characterized by its unique Shariah-compliant principles, adjusts over time to restore equilibrium following disruptions. The IRF analysis further indicates that shocks to inflation and exchange rates tend to temporarily suppress credit growth, reflecting the sector’s sensitivity to price volatility and currency fluctuations. In contrast, positive shocks to GDP and stock market performance are associated with sustained increases in credit, underscoring the procyclical nature of Islamic bank lending. FEVD results show that GDP and inflation are the most significant drivers of credit growth variability, followed by interest rates and the exchange rate. These findings underscore that Islamic credit expansion is closely tied to real sector performance and overall macroeconomic stability. For policymakers and financial regulators, the study highlights the importance of maintaining sound macroeconomic fundamentals and fostering a stable investment climate. Such efforts are essential to support sustainable credit growth and enhance the resilience of Indonesia’s Islamic banking sector
A Comparative Expert-Based Analysis for Prioritizing Waqf Asset Optimization Strategies in Indonesia: An Analytic Network Process (ANP) Approach Putra, Trisno Wardy; Alwahidin; Sikki, Kaisar Lahiya
Journal of Islamic Economics and Finance Studies Vol 6 No 1 (2025): JIEFeS, June 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i1.10942

Abstract

Land waqf in Indonesia holds significant potential for economic empowerment; however, its predominantly conventional management practices have limited its contribution to broader development goals. This study aims to formulate comprehensive strategic priorities, based on expert evaluations, to enhance the sustainable effectiveness of land waqf management. The research employs the Analytic Network Process (ANP), a method that enables the analysis of interdependencies among decision elements using expert input. The results reveal notable differences in emphasis among expert groups. Regulators identify regulatory issues as the primary challenge (0.303) and the most critical solution area (0.321), with regulatory strengthening emerging as the top strategic priority (0.272). Academics consider nazhir-related issues as the central problem (0.344), advocating balanced empowerment of both wakif and nazhir (each 0.285), supported by strategies focused on enhancing waqf literacy and optimizing asset management (each 0.342). Practitioners also emphasize the role of nazhir (0.308) and prioritize capacity-building solutions for nazhir (0.311), proposing a comprehensive strategy encompassing waqf literacy, regulatory reinforcement, and asset optimization (each 0.270). These findings underscore the need for a multidimensional approach to waqf asset optimization—one that integrates institutional development, educational initiatives, and policy reform. The study highlights the critical importance of collaboration among regulators, academics, and practitioners to establish an effective, professional, and productive land waqf management system.
Do the Islamic Social Finance Institution Programs Realize the Sustainable Development Goals (SDGs)? Analysis of Dompet Dhuafa Program Sahroni, Abdullah; Mardiah, Siti; Litriani, Erdah
Journal of Islamic Economics and Finance Studies Vol 6 No 1 (2025): JIEFeS, June 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i1.10988

Abstract

This research aims to analyze the role and contribution of Islamic social finance institutions in advancing the Sustainable Development Goals (SDGs) within the community of Palembang City, South Sumatra. The study is driven by the ongoing challenges of sustainable human development: particularly in the areas of education, health, and welfare for underprivileged communities, despite a recent decline in poverty and unemployment over the past three years. However, these issues still require further attention and strategic solutions. Dompet Dhuafa, as a prominent Islamic social finance institution, plays a significant role in enhancing human development outcomes in Palembang. This study employs a qualitative methodology using a phenomenological approach. Data were collected through field observations, in-depth interviews with selected informants, and document analysis. To ensure research credibility, triangulation and rich, thick descriptions were utilized. Data analysis was conducted qualitatively, supported by the Analytic Network Process (ANP) model. The impact of Dompet Dhuafa’s program on community development was measured based on targets established by Dompet Dhuafa. The findings indicate that Dompet Dhuafa contributes meaningfully by providing free healthcare services through the Layanan Kesehatan Cuma-Cuma (LKC), education scholarship for underprivileged students, and business capital asssitance to increase the income level. Funding for these programs is primarily sourced from productive waqf, supplemented by zakah and infaq contributions.
Fiscal Policy and Zakat: Their Impacts on Poverty Reduction in Banten Province, Indonesia Nursaman; Ahmad Lukman Nugraha; Ah. Fathonih; Mustofa; Surya Darma Syam; Ihksanudin
Journal of Islamic Economics and Finance Studies Vol 7 No 1 (2026): JIEFeS, June 2026
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v7i1.11188

Abstract

Abstract Poverty remains a major development challenge in Indonesia, particularly at the regional level, where disparities in income distribution and access to economic opportunities persist. In addition to government fiscal interventions, zakat has emerged as an important Islamic fiscal instrument that can support poverty reduction efforts. However, empirical evidence regarding the combined contribution of fiscal policy and zakat to poverty reduction remains limited, particularly in regional contexts. This study aims to examine the impacts of fiscal policy and zakat on poverty reduction in Banten Province. This research employs a quantitative approach using panel data from five districts/cities in Banten Province during the period 2017–2021. Fiscal policy is represented by regional government expenditure (APBD), while zakat is measured through zakat collection and distribution data. The analysis employs panel data regression techniques to estimate the effects of fiscal policy and zakat on poverty reduction. The results indicate that fiscal policy has a significant effect on poverty reduction, suggesting that regional expenditure contributes to improving welfare and reducing poverty levels. Zakat also has a significant effect on poverty reduction through its role in supporting vulnerable households and enhancing social welfare. Furthermore, fiscal policy and zakat jointly strengthen poverty reduction efforts, demonstrating that public fiscal instruments and Islamic social finance can complement one another in addressing socio-economic challenges. This study contributes to the growing literature on poverty reduction by providing empirical evidence on the role of government fiscal policy and zakat in reducing poverty at the regional level. The findings suggest that stronger coordination between government expenditure programs and zakat management institutions can improve the effectiveness of poverty reduction strategies in Banten Province and other regions with similar socio-economic characteristics.   AbstrakKemiskinan masih menjadi salah satu tantangan utama pembangunan di Indonesia, khususnya di tingkat daerah yang masih menghadapi kesenjangan pendapatan dan keterbatasan akses terhadap peluang ekonomi. Selain intervensi fiskal pemerintah, zakat juga memiliki potensi sebagai instrumen fiskal Islam yang dapat mendukung upaya pengurangan kemiskinan. Namun demikian, kajian empiris yang menganalisis kontribusi kebijakan fiskal dan zakat secara simultan terhadap pengurangan kemiskinan, khususnya pada tingkat daerah, masih relatif terbatas. Penelitian ini bertujuan untuk menganalisis pengaruh kebijakan fiskal dan zakat terhadap pengurangan kemiskinan di Provinsi Banten. Penelitian ini menggunakan pendekatan kuantitatif dengan data panel yang mencakup lima kabupaten/kota di Provinsi Banten selama periode 2017–2021. Kebijakan fiskal direpresentasikan oleh realisasi Anggaran Pendapatan dan Belanja Daerah (APBD), sedangkan zakat diukur berdasarkan data penghimpunan dan penyaluran zakat. Analisis dilakukan menggunakan regresi data panel untuk menguji pengaruh kebijakan fiskal dan zakat terhadap pengurangan kemiskinan. Hasil penelitian menunjukkan bahwa kebijakan fiskal memiliki pengaruh signifikan terhadap pengurangan kemiskinan melalui peningkatan aktivitas ekonomi, pelayanan publik, dan program kesejahteraan masyarakat. Zakat juga memiliki pengaruh signifikan terhadap pengurangan kemiskinan melalui peningkatan kapasitas ekonomi kelompok masyarakat berpendapatan rendah dan penguatan perlindungan sosial. Selain itu, kebijakan fiskal dan zakat secara simultan memperkuat upaya pengurangan kemiskinan, yang menunjukkan bahwa instrumen fiskal pemerintah dan instrumen fiskal Islam dapat saling melengkapi dalam mengatasi berbagai permasalahan sosial ekonomi. Penelitian ini memberikan kontribusi pada pengembangan literatur mengenai pengurangan kemiskinan dengan menghadirkan bukti empiris tentang peran kebijakan fiskal dan zakat pada tingkat daerah. Temuan penelitian mengindikasikan bahwa sinergi antara program belanja pemerintah daerah dan pengelolaan zakat yang lebih efektif dapat meningkatkan keberhasilan strategi pengurangan kemiskinan di Provinsi Banten.
Does the Risk and Financing Structure Affect Islamic Bank Performance in Indonesia? Ichsan Hamidi; Sulistya Rusgianto; Kamalia Sani; Robi'atul Adawiyah
Journal of Islamic Economics and Finance Studies Vol 6 No 2 (2025): JIEFeS, December 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i2.11323

Abstract

This study examines the effects of Profit and Loss Sharing (PLS) financing, Financing to Deposit Ratio (FDR), and Non-Performing Financing (NPF) on the profitability of Islamic commercial banks in Indonesia. Using a quantitative approach, the study employs a fixed-effect panel data regression model based on quarterly data from five Islamic commercial banks over the 2019–2023 period. The empirical results indicate that PLS financing has a positive and statistically significant effect on profitability, while NPF exerts a negative and significant effect. In contrast, FDR shows a negative but statistically insignificant relationship with profitability. These findings suggest that Islamic bank profitability is not primarily driven by liquidity expansion or financing intensity, but rather by the quality of financing and the effectiveness of risk management. The results further highlight that profit and loss-sharing financing can function as a strategic instrument to enhance profitability when supported by strong governance and credit risk control. By integrating financing structure, liquidity behavior, and credit risk within a unified analytical framework, this study contributes to the literature by providing empirical evidence on the conditional effectiveness of Islamic risk-sharing mechanisms in an emerging Islamic banking system.   Penelitian ini bertujuan untuk menganalisis pengaruh pembiayaan bagi hasil, Financing to Deposit Ratio, dan Non-Performing Financing terhadap profitabilitas bank umum syariah di Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dengan model regresi data panel fixed effect berdasarkan data triwulanan dari lima bank umum syariah selama periode 2019–2023. Hasil penelitian menunjukkan bahwa pembiayaan PLS berpengaruh positif dan signifikan terhadap profitabilitas, sedangkan NPF berpengaruh negatif dan signifikan. Sementara itu, FDR memiliki pengaruh negatif namun tidak signifikan terhadap profitabilitas. Temuan ini mengindikasikan bahwa profitabilitas bank syariah tidak ditentukan oleh ekspansi likuiditas atau intensitas penyaluran pembiayaan, melainkan oleh kualitas pembiayaan dan efektivitas pengelolaan risiko. Hasil penelitian juga menegaskan bahwa pembiayaan bagi hasil dapat berfungsi sebagai instrumen strategis untuk meningkatkan profitabilitas apabila didukung oleh tata kelola yang kuat dan pengendalian risiko kredit yang memadai. Dengan mengintegrasikan struktur pembiayaan, perilaku likuiditas, dan risiko kredit dalam satu kerangka analisis, penelitian ini memberikan kontribusi empiris mengenai efektivitas bersyarat mekanisme bagi hasil dalam sistem perbankan syariah di negara berkembang.
Business Incubator Model in Higher Education: The Role of Islamic Finance Tri Inda Fadhila Rahma; Nurbaiti; Siti Aisyah
Journal of Islamic Economics and Finance Studies Vol 6 No 2 (2025): JIEFeS, December 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i2.11101

Abstract

The increasing unemployment rate among university graduates in Indonesia highlights the urgent need for higher education institutions to play an active role in fostering entrepreneurship. Business incubators (Inbis) have emerged as strategic initiatives to support students in developing entrepreneurial skills, accessing funding, and establishing sustainable startups. This study examines the role of business incubators in universities and the contribution of Islamic finance in supporting their growth. The research employs a benchmarking method by analyzing incubator programs at Universitas Brawijaya, Universitas Airlangga, and Universitas Negeri Surabaya. Findings indicate that university-based business incubators not only facilitate entrepreneurial education but also serve as financial and networking hubs that connect startups with potential investors. Additionally, Islamic finance provides alternative funding models, such as mudharabah and musyarakah, ensuring ethical financial practices that align with Sharia principles. The integration of business incubators and Islamic finance strengthens the entrepreneurial ecosystem in higher education, fostering financial independence among graduates while contributing to national economic development.   Meningkatnya tingkat pengangguran di kalangan lulusan perguruan tinggi di Indonesia menunjukkan perlunya peran aktif perguruan tinggi dalam mendorong pengembangan kewirausahaan. Inkubator bisnis (Inbis) telah muncul sebagai inisiatif strategis untuk membantu mahasiswa mengembangkan keterampilan kewirausahaan, memperoleh akses pendanaan, dan membangun startup yang berkelanjutan. Penelitian ini mengkaji peran inkubator bisnis di perguruan tinggi serta peran Keuangan Syariah dalam mendukung pertumbuhannya. Penelitian ini menggunakan metode benchmarking dengan menganalisis program inkubator di Universitas Brawijaya, Universitas Airlangga, dan Universitas Negeri Surabaya. Temuan penelitian menunjukkan bahwa inkubator bisnis berbasis kampus tidak hanya memfasilitasi pendidikan kewirausahaan, tetapi juga berfungsi sebagai pusat pendanaan dan jaringan yang menghubungkan startup dengan calon investor. Selain itu, pembiayaan syariah menyediakan model pendanaan alternatif, seperti mudharabah dan musyarakah, yang memastikan praktik keuangan etis yang sesuai dengan prinsip-prinsip syariah. Integrasi antara inkubator bisnis dan pembiayaan syariah memperkuat ekosistem kewirausahaan di perguruan tinggi, mendorong kemandirian finansial lulusan, serta berkontribusi pada pembangunan ekonomi nasional.
Monetary Transmission Through the Profit-Sharing Financing Channel in Indonesia Zaini Ibrahim; Anita; Ratu Fhathunnida
Journal of Islamic Economics and Finance Studies Vol 7 No 1 (2026): JIEFeS, June 2026
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v7i1.11948

Abstract

Abstract Profit-sharing financing (PSF) is a leading product of Islamic banking that serves as a stabilizer for the real and monetary sectors, with an average growth rate of 22.05% during the 2009-2024 period. When viewed as an Islamic monetary instrument, this PSF's performance still needs to be tested for its contribution to Indonesia's inflation-targeting framework (ITF). This research aimed to identify the monetary transmission channel through the PSF instrument to encourage economic growth and to stabilize inflation in Indonesia. This study employed a quantitative Structural Vector Autoregression (SVAR) approach to analyze time-series data from 2009:1 to 2024:6. The results indicate that the PSF instrument cannot yet be relied upon to promote economic growth in Indonesia reliably. Likewise, inflation did not respond significantly to shocks to the PSF instrument. Instead, inflation responds more to changes in interest rates in the Interbank Money Market (PUAB). Thus, this article has revealed new findings: monetary transmission through the PSF channel affects only the growth of the Islamic financial sector and has not had a significant impact on the real sector. The implications of these findings encourage monetary authorities to accelerate PSF through regulatory improvements, especially by setting upper and lower limits on PSF yields, establishing minimum share capital for the musharakah scheme, and limiting portions or margins of the murabahah scheme.   Abstrak Profit-sharing financing (PSF) merupakan produk unggulan perbankan Islam yang berperan sebagai stabilisator sektor riil dan moneter, dimana selama periode 2009-2024 rata-rata pertumbuhannya mencapai 22.05%. Jika dilihat fungsinya sebagai salah satu instrumen moneter Islam, performa PSF ini masih perlu diuji kontribusinya dalam dimensi inflation targeting framework (ITF) yang berlaku di Indonesia. Penelitian ini bertujuan untuk mengidentifikasi jalur transmisi moneter yang dilalui instrumen PSF dalam rangka mendorong pertumbuhan ekonomi dan pengendalian inflasi di Indonesia. Studi ini menggunakan pendekatan kuantitatif Structural Vector Autoregression (SVAR) melalui pengujian data time series periode 2009:1 – 2024:6. Hasilnya menunjukkan bahwa instrumen PSF belum bisa diandalkan dalam mendorong pertumbuhan ekonomi Indonesia. Demikian juga shock instrumen PSF tidak direspon signifikan oleh inflasi. Inflasi lebih merespon perubahan suku bunga di pasar uang antar bank. Dengan demikian, artikel ini berhasil mengungkap temuan baru bahwa transmisi moneter melalui jalur PSF hanya berdampak pada pertumbuhan sektor keuangan Islam dan belum berdampak signifikan pada sektor riil. Implikasi dari temuan ini mendorong otoritas moneter untuk melakukan akselerasi PSF melalui perbaikan regulasi terutama penetapan batas atas dan batas bawah terhadap imbal hasil PSF; minimum share capital untuk pembiayaan musyarakah; pembatasan porsi pembiayaan murabahah; atau pembatasan marjin murabahah.
Strategies to Increase Sharia Insurance Waqf Interest in Indonesia Using ANP-Delphi Methods Annas Syams Rizal Fahmi; Syafiq Mahmadah Hanafi; Afdawaiza
Journal of Islamic Economics and Finance Studies Vol 6 No 2 (2025): JIEFeS, December 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i2.12012

Abstract

Public interest in waqf-based life insurance products in Indonesia remains low, despite their significant potential to enhance Islamic financial inclusion and strengthen community empowerment. This study aims to formulate effective strategies to increase public interest by identifying key determinants and establishing strategic priorities based on expert consensus. A mixed-methods exploratory design was employed, integrating the Delphi method and the Analytic Network Process (ANP). The Delphi process involved three rounds with experts from MUI, BWI, and IAEI to reach consensus on strategic factors influencing public interest. The high Kendall’s W value of 0.977 indicated strong agreement among experts. The validated Delphi results were further analyzed using ANP with five expert respondents to identify factor weights and interrelations. The ANP results revealed that accessibility was the most influential factor (global weight: 0.434), followed by socialization and education (0.215), public understanding (0.207), and trust and certainty (0.145). The findings align with Renninger and Hidi’s Interest Theory, which distinguishes between situational and individual interest, and Kotler and Keller’s consumer decision-making model emphasizing value-based purchasing behavior. Practically, the study provides actionable recommendations for Islamic insurance institutions, regulators, and waqf authorities to design more effective policies that strengthen public participation and expand the Islamic finance ecosystem in Indonesia.   Minat masyarakat terhadap produk asuransi jiwa berbasis wakaf (waqf insurance) di Indonesia masih rendah, meskipun produk ini memiliki potensi untuk memperluas inklusi keuangan syariah dan memperkuat pemberdayaan sosial umat. Penelitian ini bertujuan merumuskan strategi efektif untuk meningkatkan minat masyarakat dengan mengidentifikasi faktor-faktor penentu dan menetapkan prioritas strategis berdasarkan konsensus para ahli. Penelitian ini menggunakan desain eksploratori dengan pendekatan campuran, yang mengintegrasikan metode Delphi dan Analytic Network Process (ANP). Proses Delphi dilakukan dalam tiga putaran dengan melibatkan para ahli dari MUI, BWI, dan IAEI untuk mencapai konsensus mengenai faktor-faktor strategis yang memengaruhi minat masyarakat. Nilai Kendall’s W yang tinggi (0,977) menunjukkan tingkat kesepakatan yang kuat antarresponden ahli. Hasil akhir dari Delphi kemudian dianalisis menggunakan ANP dengan lima responden ahli untuk menentukan bobot dan keterkaitan antar faktor. Hasil ANP menunjukkan bahwa faktor yang paling berpengaruh adalah aksesibilitas (bobot global: 0,434), diikuti oleh sosialisasi dan edukasi (0,215), pemahaman masyarakat (0,207), serta kepercayaan dan kepastian (0,145). Temuan ini selaras dengan Interest Theory dari Renninger dan Hidi, yang membedakan antara minat situasional dan individual, serta model pengambilan keputusan konsumen dari Kotler dan Keller yang menekankan perilaku pembelian berbasis nilai. Secara praktis, hasil penelitian memberikan rekomendasi bagi lembaga asuransi syariah, regulator, dan otoritas waqf dalam merancang kebijakan yang lebih efektif untuk memperkuat partisipasi publik dan memperluas ekosistem keuangan syariah di Indonesia.
Enhancing Company Value in Islamic Banking: The Interplay of Corporate Social Responsibility and Financial Performance Andi Triyawan; Suryawiastarani; Adamu Abubakar Muhammad
Journal of Islamic Economics and Finance Studies Vol 6 No 2 (2025): JIEFeS, December 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i2.12063

Abstract

Corporate Social Responsibility (CSR) is a crucial factor influencing firm value, significantly impacting profitability, corporate valuation, and financial performance across various sectors. The relationship between CSR, financial performance, and firm value often follows a U-shaped pattern, where initial CSR investments may incur costs but lead to greater long-term benefits through enhanced stakeholder trust. In Sharia-compliant financial institutions, the integration of CSR governance is increasingly important due to evolving market expectations. This study investigates the effects of CSR and financial performance on firm value in Sharia-compliant banks listed on the JII70 index from 2020 to 2023. Using a quantitative descriptive design, the research analyzes a purposive sample of three Islamic banks over four years, utilizing secondary data from annual reports and sustainability disclosures. The findings reveal that CSR and financial performance together explain 78% of the variation in firm value, underscoring the importance of robust CSR implementation for optimizing firm valuation. CSR and FP don't affect company value much separately. However, they are significant affect when combined (F-test).   Tanggung Jawab Sosial Perusahaan (CSR) memiliki peran penting dalam membentuk nilai perusahaan, terutama pada lembaga keuangan syariah yang menekankan aspek etika dan sosial. Penelitian ini bertujuan untuk menganalisis pengaruh CSR dan kinerja keuangan terhadap nilai perusahaan pada bank syariah yang terdaftar dalam indeks JII70 selama periode 2020–2023. Metode yang digunakan adalah deskriptif kuantitatif dengan menganalisis data sekunder dari laporan tahunan dan laporan keberlanjutan tiga bank syariah terpilih. Hasil penelitian menunjukkan bahwa CSR dan kinerja keuangan secara bersama-sama mampu menjelaskan 78% variasi nilai perusahaan. Temuan ini menunjukkan bahwa penerapan CSR yang kuat, didukung kinerja keuangan yang baik, secara signifikan dapat meningkatkan valuasi perusahaan. Studi ini menegaskan pentingnya integrasi CSR dalam manajemen strategis, khususnya bagi institusi keuangan syariah yang ingin memperkuat kepercayaan pemangku kepentingan dan pertumbuhan jangka panjang. CSR dan FP tidak banyak memengaruhi nilai perusahaan secara terpisah. Namun, keduanya mempengaruhi valuasi perusahaan ketika digabungkan (uji F).
Designing an Integrated Blockchain-Based Waqf Governance Model for Indonesia: Delphi-Likert Approach Syahrul Ihsan; Syamsuri
Journal of Islamic Economics and Finance Studies Vol 6 No 2 (2025): JIEFeS, December 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i2.12364

Abstract

Waqf experiences significant developments every year. At the same time, transparency and accountability remain crucial challenges related to waqf in Indonesia. This study aims to identify the key characteristics of blockchain-based waqf governance and propose a relevant governance model in the Indonesian. The digitalization of waqf through blockchain technology offers significant opportunities to enhance transparency and accountability in waqf governance in Indonesia. To identify characteristics and propose a relevant model in the Indonesian context, a Delphi-Likert method was used, involving eleven respondents comprising academics, regulators, and practitioners in the waqf and blockchain fields. The results indicate that the most important aspects for blockchain integration are strengthening the database system, collecting, and managing waqf. The majority of respondents believe blockchain needs to be implemented immediately, with a preference for hybrid and public networks. Furthermore, a limited open ecosystem is seen as the most realistic form of governance because it balances the need for transparency with the protection of the institution's internal data. This study contributes theoretically to the literature on Islamic social finance and practically provides recommendations for an integrated governance model for waqf institutions in Indonesia.   Wakaf mengalami perkembangan yang signifikan setiap tahunnya. Pada waktu yang sama, permasalahan transparansi dan akuntabilitas masih menjadi tantangan krusial terkait wakaf di Indonesia. Penelitian ini bertujuan mengidentifikasi karakteristik utama tata kelola wakaf berbasis blockchain dan mengusulkan model tata kelola yang relevan dalam konteks Indonesia. Digitalisasi wakaf melalui teknologi blockchain menawarkan peluang besar untuk meningkatkan transparansi dan akuntabilitas tata kelola wakaf di Indonesia. Untuk menemukan karakteristik dan usulan model yang relevan dalam konteks Indonesia, maka pendekatan Delphi-Likert dengan melibatkan sebelas responden terdiri dari akademisi, regulator, dan praktisi pada bidang wakaf dan blockchain. Hasil penelitian menunjukkan bahwa aspek yang paling penting untuk diintegrasikan dengan blockchain adalah penguatan sistem database, penghimpunan, dan pengelolaan wakaf. Mayoritas responden menilai bahwa blockchain perlu diimplementasikan segera dengan preferensi pada jaringan hybrid dan publik. Selain itu, ekosistem terbuka terbatas dipandang sebagai bentuk tata kelola paling realistis karena mampu menyeimbangkan kebutuhan transparansi dengan perlindungan data internal lembaga. Penelitian ini berkontribusi secara teoritis dalam memperkaya literatur keuangan sosial Islam dan secara praktis memberikan rekomendasi model tata kelola terintegrasi bagi Lembaga wakaf di Indonesia.

Page 10 of 12 | Total Record : 117

 8   9   10   11   12 

Filter by Year

2020 2026


Reset
Filter By Issues
All Issue Vol 7 No 1 (2026): JIEFeS, June 2026 Vol 6 No 2 (2025): JIEFeS, December 2025 Vol 6 No 1 (2025): JIEFeS, June 2025 Vol 5 No 2 (2024): JIEFeS, December 2024 Vol 5 No 1 (2024): JIEFeS, June 2024 Vol 4 No 2 (2023): JIEFeS, December 2023 Vol 4 No 1 (2023): JIEFeS, June 2023 Vol 3, No 2 (2022): JIEFeS, December 2022 Vol 3, No 1 (2022): JIEFeS, June 2022 Vol 2, No 2 (2021): JIEFeS, December 2021 Vol 2, No 1 (2021): JIEFeS, June 2021 Vol 1, No 2 (2020): JIEFeS, December 2020 Vol 1, No 1 (2020): JIEFeS, June 2020 More Issue