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Eko Fajar Cahyono
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Islamic Economics Departement Faculty Of Economics and Bussines Universitas Airlangga Jl. Airlangga No. 4-6, Surabaya 60286, Indonesia Telp. 031-5033642, 031-5036584 ext. 144, Fax 031 026288
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Airlangga International Journal of Islamic Economics and Finance
Published by Universitas Airlangga
ISSN : 25799169     EISSN : 26158205     DOI : 10.20473/aijief.v3i2.23878
Core Subject : Economy,
Economics, Econometrics & Finance
Airlangga International Journal of Islamic Economic and finance (AIJIEF) publishes quality and in-depth analysis of current issues within Islamic finance and Islamic economics. The journal welcomes robust evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The central theme of the paper received in Airlangga International Journal of Islamic Economics and finance (AIJIEF) is the study of international Islamic economics and international Islamic finance. What is meant by the theme is a case study of Islamic economics and Islamic finance in the Asia Pacific region, especially Southeast Asia, or a case study of Islamic economics and Islamic wear that occurs in member countries of the Islamic Conference Organization. All the main themes mentioned in the previous paragraph Airlangga International Journal of Islamic Economic and Finance (AIJIEF) also accept papers with the themes of Islamic economics and Islamic finance. The spread of Islamic finance and Islamic economics include: 1. Islamic finance: Fundamentals, trends, and opportunities in Islamic Finance Islamic banking and financial markets Risk Management Corporate finance Investment strategy Islamic Sosial Finance Financial Planning Housing Finance Legal and regulatory issues 2. Islamic economics: Islamic Microeconomy Islamic Macroeconomy Islamic Monetary Economy Zakah, Waqf and Sadaqoh Economics of Natural Resource and Environment in Islamic Economics
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 80 Documents
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SOLUTIONS TO CHALLENGES OF ISLAMIC BANKING IN GHANA: A QUALITATIVE STUDY IBRAHIM, ABDUL-SOMED; Yatoo, Nissar Ahmad
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 01 (2024): JANUARY-JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i01.54815

Abstract

Abstract The purpose of this study is to propose solutions to challenges affecting the take-off of Islamic banking implementation in Ghana. The research is qualitative research that uses interview to measure the opinions of a sample of 10 experts with Islamic finance background conveniently and purposively selected from higher learning/research institutions in Ghana and abroad. The data analysis is thematically done. The findings from the research propose human resource development, collaboration among stake-holders, high advocacy, comprehensive framework and top-down approach as solutions. The interviewees are dominated by Muslims and this should be considered before generalization over the entire country. Islamic banking can be implemented in Ghana if deliberate efforts are made to implement the proposed solutions. The study is the first of its kind in interviewing both local and foreign experts on solutions to the challenges of IBF in Ghana. This study will contribute to the meager literature on Islamic banking.
THE EFFECT OF INTEREST RATES AND INFLATION ON ISLAMIC STOCK RETURNS IN COMPANIES LISTED ON THE JAKARTA ISLAMIC INDEX Cahyanti, Irni Sri; Janwari, Yadi; Solehudin, Ending; Jubaedah, Dedah
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 01 (2024): JANUARY-JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i01.55610

Abstract

This research is motivated by macroeconomic fluctuations through interest rates and inflation followed by fluctuations in Islamic stock returns. This study aims to describe and analyze: 1) The effect of interest rates on Islamic stock returns in companies listed on the Jakarta Islamic Index; 2) The effect of inflation on the return of Islamic stocks in companies listed on the Jakarta Islamic Index; 3) The effect of interest rates and inflation simultaneously on the return of in companies listed on the Jakarta Islamic Index. This research method is with quantitative types, descriptive methods of analysis and empirical juridical approaches. The samples used by 8 companies listed in the Jakarta Islamic Index for the 2016-2022 period were taken by purposive sampling techniques. Data collection techniques use documentation through secondary data and data analysis methods (Panel Data Regression). The results showed that: 1) Interest rates partially had a positive and insignificant effect on the return of Islamic shares in companies listed on the Jakarta Islamic Index; 2) Inflation partially has a positive and insignificant effect on the return of sharia shares in companies listed on the Jakarta Islamic Index; 3) Simultaneously, interest rates and inflation have an insignificant effect on the return of Islamic stocks in companies listed on the Jakarta Islamic Index.
EVALUATING THE ROLE OF AFFILIATE MARKETING AND FLASH SALES IN SHOPEE: INSIGHT THROUGH ISLAMIC ECONOMICS LAW Nurwijayanto, Putra Ramadhani; Setyawati, Dyah; Qurrata, Vika Annisa
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 01 (2024): JANUARY-JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i01.57822

Abstract

This research investigates the influence of affiliate marketing and flash sale programs on buying interest within the Shopee Marketplace, focusing on the perspectives of Islamic Economic law among consumers at Malang City in 2024. The study employs a case study approach to examine the impact of these marketing strategies on consumer behavior and ethical considerations. Through qualitative analysis, data is gathered from Shopee users in Malang City to explore their attitudes, perceptions, and buying patterns in response to affiliate marketing and flash sale promotions. The research delves into the ethical dimensions of these marketing practices within the framework of Islamic economic principles, examining their compatibility with notions of fairness, transparency, and social responsibility in buying and selling transactions. The findings shed light on the complexities of consumer decision-making in the digital marketplace, highlighting the interplay between marketing tactics and ethical considerations rooted in Islamic economic teachings. By synthesizing insights from Islamic economic law and consumer behavior research, this study contributes to a deeper understanding of the ethical implications of modern marketing strategies in e-commerce platforms like Shopee. The research results show a significant positive influence between affiliate marketing and the flash sale program on respondents' shopping behaviour and buying interest at Shopee. Furthermore, the research provides practical implications for marketers, policymakers, and stakeholders in balancing commercial objectives with ethical standards in online retail environments.
DOES INTENTION MATTERS FOR BMT MEMBER TO INVEST IN MUDHARABAH MUQAYYADAH DEPOSIT? : The Case of BMT Under Indonesia Sharia Cooperative Association (AKSYINDO) Priyadi, Rohman; Ismal, Rifki; Rahman, Arip
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 01 (2024): JANUARY-JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i01.58237

Abstract

Baitul Mal wat Tamwil (BMT) plays an important role in collecting and managing funds, as well as channeling them to mikor business actors with the principles of justice that are free from usury. However, it was found that members' interest in investment products in cooperatives is still relatively low. This study aims to analyze the intention of BMT members to invest in mudharabah muqayyadah savings by using the Theory of Planned Behaviour (TPB). The sampling method uses cluster random sampling by distributing online questionnaires to all investors in muqayyadah mudharabah deposits whose BMTs are registered with Aksyindo. Data from 191 respondents were analyzed by using SmartPLS 3.2.9 Structural Equation Modeling. This research was found that all intention determinant variables in TPB namely attitude, subjective norms and perceived behavioral control have positive and significant effects on the intention to invest in muqayyadah mudharabah savings, while other observed variables, namely knowledge, religious factors, risk and return, and sharia compliance have positive and significant effects on attitudes in investing in muqayyadah mudharabah savings. Based on the findings of this study, it is concluded that the BMT needs to improve the factors that influence the intention to invest in muqayyadah mudharabah savings in order to overcome the problem of low interest in investing in muqayyadah mudharabah savings. This study can be a consideration for regulators and practitioners to design effective strategies in developing the Islamic financial industry, especially BMTs that are developing in Indonesia.
ANALYSIS OF MARKET RISK MANAGEMENT STRATEGY IN ISLAMIC BANK : Case Study at Bank Mega Syariah Indonesia Azizah Shodiqoh Rafidah; Rokhmat Subagiyo; Binti Nur Asiyah
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 01 (2024): JANUARY-JUNE 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i01.58691

Abstract

Market risks is one of the risks in islamic banking that cannot be avoided. If Islamic banking cannot manage market risk properly, it will have an impact on bank profitability or even lead to other risks. Therefore, Islamic banking must create a market risk management strategy to achive suistaneble bussiness growth. This research made Bank Mega Syariah the locus of research. The research method used is qualitative research using the main data source, namely Bank Mega Syariah's 2023 annual report as well as the December 2023 risk exposure and capital report. The result of the research show that Bank Mega Syariah manages market risk based on its fund distribution portofolio, the majority of which is in the form of financing and partly in the form of sukuk securities as a liquidity reserve, does nor carry out over the counter trading activities for proprietary trading so market risk exposure is relatively low. The focus changing behaviour and maintaining customer trust when market benchmark interest rate increase, adjusted to majority of financing which has a fixed margin.
ANALYSIS OF MACROECONOMIC VARIABLE CHANGES TO THE RESILIENCE OF ISLAMIC BANKING IN INDONESIA Moh Yusron Solikin
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 02 (2024): JULY-DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i02.55212

Abstract

This research aims to analyze the changes in macroeconomic variables such as economic growth, inflation, exchange rates, and interest rates on the resilience of Islamic banking in Indonesia. Additionally, it seeks to prove that Islamic banks are resistant to economic crisis. This quantitative study used monthly data period series of January 2006 to January 2020 with the Autoregressive Distributed Lag (ARDL) and Markov Switching (MS) methods. ARDL test results indicates that economic growth and exchange rates significantly affect Islamic banking resilience. Economic growth has positively influence, while exchange rates have a negative impact. Conversely, inflation and interest rates do not play any role in affecting Islamic Bank resilience. Through the test, Markov Switching proved that Islamic banking is resistant in the face of an economic crisis that lasts more than a period of crisis than a quiet period.
THE EFFECT OF IN-GAME ADVERTISING AS A MARKETING TECHNIQUE ON THE PURCHASING BEHAVIOR OF GENERATION Z IN TURKEY ADIGÜZEL, SELMİNAZ
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 02 (2024): JULY-DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i02.63866

Abstract

The purpose of this study is to investigate the effect of in-game advertisements, which are a marketing technique, on the purchasing behaviors of Muslim youth and the purchasing behaviors of these youth in Generation Z. The survey of the study was prepared by Betül Başer and Özgün Arda Kuş, a 31-question survey was applied to 250 volunteer students by e-mail after receiving permission from the researchers and receiving approval from the ethics committee. The survey data was uploaded to the SPSS 25 program and the frequencies and percentages of the data were obtained. In the study, analyses were conducted using quantitative research methods such as variance analysis (ANOVA), t-test and Tukey test. According to the results of the research, significant differences were determined among Generation Z according to gender, age and education level. In order to make Islamic production and investments according to new trends, it is necessary to know the characteristics of the generations well and to develop Islamic applications and software suitable for these characteristics. Since Generation Z cares about games and the advertisements they encounter during the game, it is important for Islamic investments and productions to be developed in a way that has Islamic characteristics.
BOARD CHARACTERISTICS AND FIRMS’ SPECIFIC VARIABLES ON CAPITAL STRUCTURE OF SHARIA COMPLIANCE FIRMS IN INDONESIA Ahmad Fadlur Rahman Bayuny; Al Mustafa, Muhammad Ubaidillah; Rani, Lina Nugraha; Hidayah, Binti Khusnul; Redy, Achdiar
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 02 (2024): JULY-DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i02.64063

Abstract

This study examines the influence of board characteristics and firm-specific variables on the capital structure of Sharia-compliant companies in Indonesia’s basic materials sector. Utilizing data from 26 non-financial firms between 2007 and 2020, the research applies the Generalized Method of Moments (GMM) to analyze the relationships between board size, independent directors, board of commissioners, and capital structure decisions. The findings reveal that board size has a significant positive impact on leverage, while the presence of independent directors negatively affects debt usage, reflecting their role in promoting prudent financial practices in line with Sharia principles. The board of commissioners also exhibits a negative correlation with leverage, indicating that stronger supervision reduces reliance on debt. Additionally, firm-specific variables such as growth opportunities and non-debt tax shields significantly affect leverage decisions. This study contributes to the literature by offering insights into how governance practices and firm characteristics influence capital structure in Sharia-compliant firms, with implications for both corporate governance and financial management in the basic materials sector.
SALARY, INCENTIVES, AND EMPLOYEE PRODUCTIVITY: (Case Study of USPPS BMT Al-Hijrah KAN Jabung) Alamsyah, Dodik; Setyawati, Dyah; Nurwijayanto, Putra Ramadhani; Santi, Fitriana; Aman, Yosanda Zata
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 02 (2024): JULY-DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i02.64081

Abstract

The study aims to analyze the impact of salary and incentives on employee productivity at USPPS BMT Al-Hijrah KAN Jabung Syariah from both simultaneous and partial perspectives. The research employs multiple regression analysis, with a sample population consisting of all 40 employees, who were also the subjects of the study. The analysis results indicate that salary has a positive and significant effect on employee productivity. Additionally, incentives also contribute positively and significantly to productivity. The findings of this research are expected to provide valuable insights for continuous improvement at USPPS BMT Al-Hijrah KAN Jabung Syariah
AN EXAMINATION OF THE IMPACT OF PRICE LEVEL AND HALAL CERTIFICATION ON PURCHASE DECISION OF ‘ANGKRINGAN FOOD’ MSME’s Nurwijayanto, Putra Ramadhani; Audia, Syahva; Setyawati, Dyah; Galih, Aditya; Sonalitha, Elta
Airlangga International Journal of Islamic Economics and Finance Vol. 7 No. 02 (2024): JULY-DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v7i02.64660

Abstract

This research investigates the impact of price levels and halal certification on consumer purchasing decisions at Angkringan Tenda Mak Gendut, an SME in Malang City. Angkringan, a traditional Javanese street food stall, serves as a focal point for local communities and embodies Javanese culinary culture. Using Price Level, Halal Certification, and MSMEs Purchase Decision as variables, a quantitative approach was employed through an online questionnaire survey. Multiple linear regression analysis was conducted to analyze consumer preferences and purchasing behaviors. The findings reveal that both price level and halal certification significantly influence customer purchasing decisions, underscoring the importance for MSMEs to carefully manage pricing strategies and maintain high halal standards to attract and retain customers. These insights highlight the dual role of affordability and halal certification in shaping consumer choices, essential for enhancing MSMEs' market competitiveness and consumer appeal.

Page 7 of 8 | Total Record : 80

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