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INDONESIA
Journal of Islamic Economic and Business Research
Published by Universitas Muhammadiyah Yogyakarta
ISSN : 27981207     EISSN : 27981304     DOI : https://doi.org/10.18196/jiebr
Core Subject : Religion, Economy,
Religion Economics, Econometrics & Finance
Journal of Islamic Economic and Business and Research is a scientific journal which has specialization of research in Islamic Economic and Business Research. Islamic Economic and Business Research is strategic issues in the world because its role and benefit to societies. Therefore, this issue need more deelpy extractive through a research. We hope that JIEBR can collect all of researchers or academicians to contribute their ideas as a solution to increase the developing of Islamic Economic and Business research in this world. Research publications in JIEBR covers various topics about Islamic Economics, Islamic Philanthropy, Halal Industry, Islamic Finance, Islamic Business Management, Entrepreneurship, and other relevant topics.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 7 Documents
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Search results for , issue "Vol. 3 No. 2: December 2023" : 7 Documents clear
Key Success Factors in the Trust Metaphor Framework for Profit Sharing Contracts: A Literature Review Kautsar Riza Salman; Arif Zeinfiki Djunaedi
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.123

Abstract

This research aims to explore key success factors in profit-sharing-based contracts. Profit-sharing-based contracts such as mudharabah and musharakah carried out by Islamic banks are the core of financing in Islamic banks because they are directly related to the productive sector. The impact of this type of financing is greater for the industrial world than that of buying and selling-based financing. However, the facts show that there has been a decrease in the performance of the percentage of profit-sharing-based financing during the 2019-2022 period, and conversely, buying and selling-based financing has increased. In addition, the total operating profit from profit-sharing-based financing has also decreased during the 2019-2022 period. Mudharabah financing is mainly carried out on the basis of trust that arises between the owner of the funds (shahibul maal) and the business manager (mudharib). This study uses a qualitative approach with a literature review in order to gain a comprehensive understanding of the key success factors in profit-sharing-based financing contracts. Key success factors that are deepened based on the trust metaphor include knowledge of the rights and obligations of mudharib and shahibul maal, honest reporting, monitoring, and guarantees. In fulfilling the Trust, each party is required to have adequate knowledge of their rights and obligations in mudharabah and musharakah contracts. The honest and adequate presentation of financial information is disclosed by mudharib with reference to relevant Sharia accounting standards such as PSAK 101, PSAK 105, and PSAK 106. This disclosure is a form of mudharib's responsibility to shahibul maal. Regular monitoring can be carried out by shahibul maal actively or passively. Guarantees can be applied in sharing-based financing contracts other than guarantees provided by mudharib. This study produces theoretical contributions to science in the field of Sharia accounting and practice, especially for practitioners in the Sharia banking industry.
Concentration Level and Market Power of Islamic Bank Industry: Analysis of Pre and Post Bank Syariah Indonesia Merger Yaser Taufik Syamlan; Sari Wahyuni; Lily Sudiharto
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.189

Abstract

This paper attempted to examine the concentration and the degree of market power in the Indonesian Islamic Bank Industry during the pre and post-Bank Syariah Indonesia mega-merger. However, using the Strategic Tripod concept, this paper explored the response of the competitor pursuant to the merger. This paper used two main secondary data sources, which were 2 quarterly financial reports before the merger and 1 quarterly financial report after the merger of 34 Islamic bank data, and applied the Herfindhal-Hircsmann Index and Concentration Ratio of the top 5 Islamic banks. This paper discovered that the concentration ratio was at a moderate level. Moreover, based on the CR5 calculation result, Islamic banks have an oligopoly market structure. As for the response to the mega-merger, this paper divides 34 islamic banks into 3 clusters which are full-fledged Islamic banks (Bank Umum Syariah), Private Owned Islamic Subsidiary (Unit Usaha Syariah), Province Owned Islamic Subsidiary (Unit Usaha Syariah Bank BPD). Based on the strategic tripod, the strategy of the Islamic full-fledged bank orchestrates resources to win the competition. The privately owned Islamic Subsidiaries are taking advantage of their resource sharing with their parents. Meanwhile, the Province Islamic subsidiary's strategy relies on the regulations determined by the bank shareholders, who, in this case, are the government province.
The Role of Sharia Financial Innovation and Literacy in Improving the Performance of MSME Actors Iman Supriadi; Rahma Ulfa Maghfiroh; Rukhul Abadi; Dewi Mumpuni Yudowati
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.193

Abstract

This study aims to analyze the role of innovation and Islamic financial literacy in improving the performance of MSME actors in the context of Islamic economics. This study also aims to evaluate the impact of innovation and Islamic financial literacy on MSME growth and contribute to the sustainable development of MSMEs. This qualitative research applied a literature approach and document analysis to collect relevant data and information. A literature review was also conducted to identify indicators of the success of Islamic financial innovation and literacy in MSMEs and appropriate evaluation methods. Other research data included previous research results and related case studies. The results of this study revealed that MSMEs that implement Islamic financial innovation and literacy tend to experience improved performance. Product and process innovation, selection of Islamic financial instruments, and financial management by Sharia principles contributed positively to increasing MSME income, productivity, and operational efficiency. This research contributes to understanding the critical role of innovation and Islamic financial literacy in improving the performance of MSME actors. The findings of this study can serve as a reference for relevant stakeholders, including MSME actors, government, and Islamic financial institutions, in developing supporting policies and programs that strengthen innovation and Islamic financial literacy in MSMEs.
Eight Years of Research Related to the Green Sukuk in the Global Stock Exchange Market to Support the Implementation of SDG: A Bibliometric Review Nanang Qosim; Ririn Tri Ratnasari; Akhmad Kusuma Wardhana; Hasna Fauziana; Tiara Tresnawulan Barkah
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.204

Abstract

The awareness of investors that only invest in green instruments has been increasing recently. Green sukuk was an investment that followed the Sharia principle and promoted environmental preservation. This study aims to analyze green sukuk in previous studies as an alternative financing for green infrastructure development in Indonesia. This study used a bibliometric method by taking secondary data from meta-data papers from Scopus and SCI. Forty papers from Scopus and 29 from SCI during 2016-2023 were taken as samples. Data were analyzed with Vosviewer and Biblioshiny. The results of this study show that the energy was closely related to the topic of green sukuk. Energy was mostly used in the abstract and titles of papers. Moreover, the abstract and the title showed that the word sustainable was used frequently, implying that the energy power plant could become an underlying asset for green sukuk due to its sustainable revenue. However, the government should take action to create regulations that could support the green project as an underlying asset of Green Sukuk.
Bond and Sukuk Interconnectedness Analysis: A Comparative Study between GCC and MENA Countries Amidst Global Crises Ganjar Primambudi; Muhammad Rizky Siddiq; Muhammad Revi Rafsanzani
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.207

Abstract

This paper aims to analyze the interconnectedness between Bond and Sukuk markets in the Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) countries. This study utilized the TVP-VAR extended joint connectedness method. The observed period was from January 2020 to October 2023, encompassing significant global events such as the COVID-19 pandemic, the Russia-Ukraine war, and the Israeli-Palestinian war. The results show the interconnectedness of bond and sukuk markets in both regions by 73% (based on TCI). The Bond and Sukuk instruments in MENA act as transmitters, while Bond and Sukuk in GCC act as receivers. The study suggests that the Sukuk in GCC and MENA may serve as an attractive option for diversified assets compared to Bonds. Additionally, the paper highlights structural changes and market dynamics during the crisis period that affected financial stability in both regions.  The anticipated contribution of this study is to enriching the global economic in term of financial literature and offering policy insight to manage risks and improve financial system resilience in GCC and MENA countries.
Religiosity as a Stress Buffer: An Investigation of Muslim Women's Work-Life Conflict and Job Stress among Minangkabau Women Purbo Jadmiko; Elfitra Azliyanti; Muhammad Rizky Prima Sakti
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.213

Abstract

This study investigates the impact of work-life conflict on work stress among Minangkabau women in diverse organizational settings. Data from 179 respondents were collected through purposive sampling using a survey approach. The research instrument incorporated variables such as perceived social support, work-life conflict, religiosity, and work stress. Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) were employed for data analysis. Results indicate a significant influence of work-life conflict and religiosity on work stress levels, underscoring its pivotal role in shaping employees' psychological well-being. However, hypotheses concerning perceived social support (PSS) were not supported, revealing the intricacy of these relationships. Hypothesis testing demonstrated a notable relationship between work-life conflict and work stress, while perceived social support exhibited no significant impact. The discussion highlights the imperative of managing work-life conflict for stress reduction. The complex interplay among religiosity, perceived social support, and stress levels, moderated by contextual factors, was acknowledged. Recommendations include further research on religiosity and stress, exploring factors influencing PSS, and an in-depth analysis of social support dynamics. In conclusion, this study enhances our comprehension of nuanced relationships impacting work stress, providing insights for future interventions and managerial strategies to foster a supportive work environment.
Mergers in Sharia Banking and Their Impact on Employee Performance: The Role of Self-Efficacy and Affective Commitment as Moderating Dewi Agustiyana; Rozikan; Adin Gustina
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.220

Abstract

Human resources are one of the main aspects of an organization. Having quality resources can affect the success of an organization. Therefore, companies need to improve employee performance, one of which is by making organizational changes. This study aims to determine the effect of organizational change on employee performance moderated by self-efficacy and affective commitment. This research applied a qualitative method, and the questionnaire data involved 155 respondents from an unlimited total population. The analysis used in this study is the Structural Equation Modelling (SEM) method based on variance, namely Partial Least Square (PLS). The results of the study showed a significant effect between organizational change and employee performance. The affective commitment variable was also able to moderate the effect of organizational change on employee performance, while self-efficacy was not able to moderate the effect of organizational change on employee performance.

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