Finansha: Journal of Sharia Financial Management
This journal aims to broaden and create innovative concepts, theories, paradigms, perspectives, and methodologies within the scope mentioned above. The scope of this journal will include but is not limited to Islamic economics, sharia business, Islamic banking, Islamic capital market, Islamic wealth management, issues of implementation/practice of sharia banking, zakat, and waqf, takaful, corporate sharia finance, management. Sharia-compliant risks, Islamic derivatives, Sharia Supervisory Board issues, Islamic business ethics, Islamic accounting, and Islamic auditing.
Articles
103 Documents
<![CDATA[MARKET REACTIONS TO THE RUSSIAN INVASION: A STUDY OF LQ-45 AND JII STOCKS ]]>
<![CDATA['Uyuunul Husniyyah]]>;
<![CDATA[Muhtadin Amri]]>;
<![CDATA[Yunaita Rahmawati]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.28964
<![CDATA[Investors who consider making an investment consider economic and non-economic market information. Information circulating can send signals that cause market reactions, such as the invasion of Ukraine by Russia. Investors may anticipate receiving bad news from this event. The aim of this research is to determine the impact of the Russian invasion of Ukraine on trading volume activity (TVA), average abnormal returns (AAR), and abnormal returns (AR). The presence of AR on the day of the event, as well as variations in AAR and TVA before and after the event, are indicators of impact. This study uses a quantitative approach. The population of this research is all companies registered in LQ-45 and the Jakarta Islamic Index (JII). An important finding from this research is that shares of companies included in the LQ-45 index have AR on Day 3; The AAR of companies listed in the LQ-45 and JII indices was less affected by the Russian invasion of Ukraine; and TVA shares of companies listed on the LQ-45 and JII indices were significantly impacted by Russia's invasion of Ukraine. The findings of this research indicate that investors must be more careful and vigilant when interacting with non-economic events that may contain information.]]>
<![CDATA[KEPUASAN PELANGGAN BASO URAT SATURNUS: STUDI EMPIRIS KUALITAS PELAYANAN DAN CITRA MEREK ]]>
<![CDATA[Ifa Latifah]]>;
<![CDATA[Yenny Maya Dora]]>;
<![CDATA[Nugraha Saefudin]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.29458
<![CDATA[Usaha saat ini harus bersiap bersaing untuk mempertahankan pangsa pasar dan meningkatkan kegiatan usaha. Penelitian ini bertujuan untuk menilai kualitas layanan, citra merek, dan kepuasan pelanggan di Baso Urat Saturnus-Margahayu Raya Bandung dengan menggunakan metode deskriptif dan verifikatif. Penelitian ini melibatkan seluruh pelanggan dari tempat tersebut, menggunakan metode sampling purposive non-probability dengan 100 responden. Data dikumpulkan kuesione dan dianalisis dengan uji regresi berganda. Hasil penelitian menyatakan kualitas layanan secara parsial berpengaruh positif dan signifikan terhadap kepuasan pelanggan. Sedangkan, citra merek memiliki pengaruh negatif dan signifikan terhadap kepuasan pelanggan. Implikasi temuan ini mencerminkan urgensi bagi bisnis untuk memprioritaskan peningkatan kualitas layanan guna meningkatkan kepuasan pelanggan. Namun, secara kontras, adanya pengaruh negatif dari citra merek menegaskan pentingnya pendekatan holistik dalam manajemen merek untuk memastikan tidak hanya kualitas layanan yang ditingkatkan, tetapi juga citra merek yang positif guna memenuhi harapan pelanggan secara keseluruhan. Baso Urat saturnus-Margahayu perlu berhati-hati dalam membangun citra merek. Citra merek yang terlalu tinggi dapat menimbulkan ekspektasi yang terlalu tinggi pula dan menyebabkan kepuasan pelanggan menurun.]]>
<![CDATA[UNDERSTANDING THE NEXUS OF FINANCIAL LITERACY AND BEHAVIORAL BIASES IN INVESTMENT DECISIONS ]]>
<![CDATA[Agus Joharudin]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.30490
<![CDATA[In an era marked by an increasingly complex and dynamic financial landscape, the intersection of financial literacy, behavioral biases and investment decisions stands as a critical link influencing the economic well-being of individuals. The aim of this study is to determine the influence of financial literacy and behavioral biases on investment decisions. This study used an online questionnaire for management students of UIN Sunan Gunung Djati Bandung. It used a quantitative approach and associative design and used multiple linear regression for analysis. The study confirms that behavioral biases are present in the investment decision-making of the students. Along with financial literacy, it also significantly influences the investment decision. The study highlights the significance of financial literacy in shaping the financial stability of students. It also made aware of the potential adverse effect of behavioral biases in influencing investment decisions among investors.]]>
<![CDATA[INCOME TAX AND ZAKAT: A QUR'ANIC AND LEGAL PERSPECTIVE AND IT'S EFFECT ON STATE REVENUE ]]>
<![CDATA[Neneng Hartati]]>;
<![CDATA[Vinna Sri Yuniarti]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.31207
<![CDATA[This study aims to identify and describe the Qur'anic perspective on Income Tax and Zakat; know and describe the Perspective of Law Number 36 of 2008 concerning Income Tax; and know and describe the effect of tax on income and zakat on state revenue quantitatively. This research uses descriptive method with qualitative and quantitative approaches. This research was conducted at the Office of the Director General of Taxes Regional Office and National Amil Zakat Agency Bandung City and Sumedang Regency, with interview data collection techniques, and secondary data, namely data obtained from data processing from related agencies. The data analysis technique used is a qualitative approach with data triangulation and a quantitative approach with statistical analysis in the form of multiple regression. The results showed that first, based on the Qur'an, zakat is part of the fourth pillar of Islam. The relationship that occurs because of zakat is not only the relationship of Habluminallah but also the relationship of Habluminannash; second, the perspective of Law No. 36 of 2008 concerning Income Tax is part of the state tax, where the tax is used for the benefit of the state. Third, based on quantitative results obtained income tax and zakat funds affect state revenue with an influence contribution of 94.9% while the remaining 5.1% is influenced by other factors.]]>
<![CDATA[MARKET MICROSTRUCTURE AND FINANCING EFFICIENCY IN MSMES IN INDONESIA: COMPARISON OF SHARIA AND CONVENTIONAL SECTORS ]]>
<![CDATA[Prasetyo Harisandi]]>;
<![CDATA[Maya Sari]]>;
<![CDATA[Elsa Yulandri]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.30801
<![CDATA[The objective of this research is to examine the financing efficacy and market microstructure of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Specifically, it compares the conventional sector with the sharia-compliant sector. This study employs Structural Equation Modeling with Partial Least Squares (SEM-PLS 4) to examine access to financing, utilization of collateral, and ability to pay with a sample of 132 MSMEs. The results of the study demonstrate distinct variations between conventional and sharia-compliant MSMEs, underscoring the influence of market microstructure elements on financial accessibility. SMBs that adhere to sharia law demonstrate, in particular, increased levels of access to capital and utilization of collateral. This research makes a valuable contribution to the comprehension of sectoral dynamics and provides policymakers, financial institutions, and MSMEs in Indonesia with practical implications.]]>
<![CDATA[THE URGENCY OF WOMEN'S LEADERSHIP IN THE BUDGET FORMULATION: ISLAMIC FINANCE PERSPECTIVE ]]>
<![CDATA[Luqmanul Hakiem Ajuna]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.30232
<![CDATA[Although only four out of thirty-five regional apparatus organizations are led by women, women's participation in the regional revenue and expenditure budget in Gorontalo City has been so great. This can be seen in the strategic position in development budgeting and regional financial planning led by a woman. Therefore, in this study, researchers want to know and understand how the urgency of women leaders in government budgeting. This research is a qualitative research with a phenomenological approach that is presented descriptively analytically and coupled with thematic studies of Islamic finance. The research location chosen is Gorontalo, which is nicknamed Serambi Madinah. The results showed that the choice of women to lead the regional planning, research and development agency is a proof of the existence of women in budgeting. The policy has provided space to voice the budget in favor of women themselves. In addition, the four female leaders who became the object of research succeeded in applying Islamic financial values in managing the regional budget, namely transparency (Siddiq) and accountability (Amanah). While in its dual function Islam does not prohibit women from appearing as leaders, but still pay attention to Islamic teachings and do not leave their main role in household affairs.]]>
<![CDATA[ANOMALIES: WEEKEND AND JANUARY EFFECT IN STOCK RETURN ]]>
<![CDATA[Rizqi Pangestu]]>;
<![CDATA[Anisa Ilmia]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.26449
<![CDATA[Investor akan lebih mudah untuk memperkirakan return pada waktu tertentu sehingga terjadi pola pergerakan harga saham yang dapat diprediksi oleh investor, yang mengakibatkan investor akan mengambil keuntungan dari pola tersebut untuk mendapatkan abnormal return. Hal ini disebut dengan anomali musiman. Penelitian ini menggunakan anomali musiman yang diukur menggunakan weekend dan january effect dan bertujuan untuk mengetahui pengaruhnya secara parsial dan simultan terhadap return saham. Penelitian dilakukan pada PT. Telkom Indonesia, dengan menggunakan metode deskriptif verifikatif dan analisis data regresi linear berganda. Hasil penelitian menyatakan bahwa pada PT. Telkom Indonesia return saham tidak dipengaruhi oleh weekend dan january effect. Ini mengindikasikan, investor tidak dapat lagi mengandalkan anomali musiman untuk mendapatkan keuntungan di pasar saham Indonesia yang semakin efisien. Investor harus lebih fokus pada faktor-faktor fundamental dan berhati-hati dalam pengambilan keputusan investasi.]]>
<![CDATA[EVIDENCE OF THE DETERMINING FACTORS OF INTERNET BANKING USE IN MARTAPURA ]]>
<![CDATA[Hasanah Hasanah]]>;
<![CDATA[Mukhlis Kaspul Anwar]]>;
<![CDATA[Nur Habibah]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 4, No 2 (2023): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v4i2.30274
<![CDATA[Tujuan dari penelitian ini adalah untuk mengetahui pengaruh dari persepsi terhadap teknologi, religiusitas, dan penanganan keluhan terhadap minat mahasiswa IAID Martapura dalam menggunakan layanan internet banking. Penelitian ini merupakan survei eksplanatif dan menggunakan metode penelitian deskriptif kuantitatif. Populasi yang diteliti adalah mahasiswa/i IAI Darussalam Martapura dari tahun 2019 hingga 2022, yang berjumlah sebanyak 2.069 orang dengan menggunakan teknik random sampling. Data yang dianalisis merupakan data primer yang diperoleh dari penyebaran kuesioner kepada responden. Analisis data dilakukan menggunakan analisis regresi berganda, yang sebelumnya telah lolos uji asumsi klasik serta uji validitas dan reliabilitas. Hasil dari penelitian ini menunjukkan bahwa baik secara parsial maupun simultan, persepsi terhadap teknologi, religiusitas, dan penanganan keluhan memiliki pengaruh terhadap minat dalam menggunakan layanan internet banking. Penelitian ini menyoroti pentingnya pelayanan pelanggan yang responsif dalam layanan internet banking. Faktor-faktor seperti teknologi dan aspek non-teknis, seperti nilai-nilai keagamaan, ternyata memiliki dampak pada penggunaan layanan keuangan digital. Implikasinya, institusi keuangan perlu mengembangkan strategi pemasaran yang mempertimbangkan nilai-nilai keagamaan untuk menjangkau pasar mereka.]]>
<![CDATA[GREEN CUSTOMER VALUE AND GREEN MARKETING AS ENCOURAGING SUPPORT GREEN PURCHASE INTENTION ]]>
<![CDATA[Hermayanti, Alma Bella]]>;
<![CDATA[Heryana, Toni]]>;
<![CDATA[Ramdhany, Muhammad Arief]]>;
<![CDATA[Ansamu, Umar]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 5, No 1 (2024): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v5i1.31751
<![CDATA[This study examines the influence of Green Customer Value on Green Purchase Intention, both directly and indirectly, through Green Marketing in Indonesia. Utilizing a quantitative approach, data was collected from 95 respondents aged 18-50 via an online survey. The findings indicate that Green Customer Value significantly impacts Green Marketing, underscoring that consumers' eco-friendly values enhance the effectiveness of green marketing strategies. Furthermore, Green Marketing significantly influences Green Purchase Intention, highlighting the importance of sustainability-focused marketing strategies in driving consumer purchase intentions. However, Green Customer Value does not directly affect Green Purchase Intention. Instead, its indirect effect, mediated by Green Marketing, emphasizes the need for integrating green marketing strategies to bridge the gap between consumer values and purchasing behavior. These results contribute to the literature by elucidating the components of Green Customer Value and their impact on marketing strategies. The study offers practical insights for businesses aiming to enhance eco-friendly consumer perceptions and drive sustainable purchasing decisions.]]>
<![CDATA[ISLAMIC FINTECH LENDING DETERMINANTS USING ISLAMIC FINANCIAL LITERACY AS A MODERATION VARIABLE ]]>
<![CDATA[Mahmud, Muhammad Daud Bin]]>;
<![CDATA[Quilim, Cici Aryansi]]>;
<![CDATA[Salmatia, Salmatia]]>
<![CDATA[ Finansha: Journal of Sharia Financial Management Vol 5, No 1 (2024): Finansha: Journal of Sharia Financial Management ]]>
Publisher : <![CDATA[UIN Sunan Gunung Djati Bandung ]]>
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DOI: 10.15575/fjsfm.v5i1.33870
<![CDATA[This study aims to determine the financial literacy of MSME actors in Morotai Island Regency as well as their erceptions in utilizing islamic fintech lending as an alternative business funding. Moderated Regression Analysis (MRA) with SPSS version 25 is the analysis approach used. 108 MSME units in six randomly chosen sub-districts received questionnaires with slovin technique, which was applied with a 0.05 margin of error and predetermined criteria. The study's findings demonstrate that the usage of islamic fintech lending is highly influenced by the perceived usefulness and ease of use of fintech. In addition, this study discovered that the impact of perceived usefulness and perceived ease of use on the frequency with which MSMEs use islamic fintech lending is not moderated by islamic financial literacy. The study's practical contribution is the realization that islamic financial literacy apart cannot be as a criteria for evaluating how MSME utilize islamic fintech lending to obtain funding for company expansion. Further research is necessary on digital literacy, which refers to MSME actors' ability in utilizing technology and digital platforms to obtain fintech funding. In addition, it's essential to focus on external factors like the availability of Islamic financial technology funding education and training for MSME.]]>
