cover
Article Per Year (5 Year)
All
Home Page
OAI Link
Editorial Team
Contact
Reviewer
Google Scholar
Contact Name
Nafiah
Contact Email
nafiah@insuriponorogo.ac.id
Phone
+6285735682845
Journal Mail Official
jief@insuriponorogo.ac.id
Editorial Address
Kampus Insuri Ponorogo Jln. Batoro Katong No. 32 Ponorogo
Location
Kab. ponorogo,
Jawa timur
INDONESIA
Indonesian Journal of Islamic Economics and Finance
Published by Institut Agama Islam Sunan Giri Ponorogo
ISSN : -     EISSN : 28081102     DOI : https://doi.org/10.37680/ijief
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Indonesian Journal of Islamic Economics and Finance E-ISSN (28081102) is a journal wich is biannually issued and publishes new editions in June and December. The journal publisher is Institut Agama Islam Sunan Giri (INSURI) Ponorogo and managed by Departement of Islamic Economics INSURI. The publication of this journal is tightly-peer with a double bind reviewed process using Open Journal System (OJS) for the magazine. The journal can be accessed openly on the website.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 243 Documents
 21   22   23   24   25 
The Influence of Servant Leadership and Altruistic Leadership on Employee Loyalty with Affective Commitment as a Mediating Variable Felisha Maulida Putri; Dedi Muhammad Siddiq; Fadiya Dina Hanifa; Joy Matwale
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.9848

Abstract

This study aims to analyze the effect of Servant Leadership and Altruistic Leadership on Employee Loyalty with Affective Commitment as a mediating variable. This research employs a quantitative approach using a survey method involving 205 employees with more than one year of tenure, selected through stratified random sampling. Data were collected through structured questionnaires using a five-point Likert scale and analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares with SmartPLS 4.0. The results indicate that Servant Leadership and Altruistic Leadership have a positive and significant effect on Employee Loyalty. Both leadership styles also have a positive and significant effect on Affective Commitment. Affective Commitment is proven to have a positive effect on Employee Loyalty and acts as a partial mediator in the relationship between Servant Leadership and Employee Loyalty, as well as between Altruistic Leadership and Employee Loyalty. The R-Square value of 0.642 indicates that the model has moderate to strong explanatory power in explaining variations in Employee Loyalty. Given the results, managers should adopt servant and altruistic leadership approaches to foster employees’ emotional attachment and enhance loyalty. Managers are also advised to develop leadership strategies that emphasize genuine care and service-oriented behavior to sustain long-term employee commitment. This study contributes to the existing literature by integrating Servant Leadership and Altruistic Leadership with Affective Commitment as a mediating variable in explaining Employee Loyalty, providing a more comprehensive understanding of leadership dynamics in organizational behavior.
The Influence of Performance-Based Budgeting on Budget Absorption with Employee Commitment as a Moderating Variable at LPP RRI Kendari Dewi Febriyanti; Intihanah Intihanah; Tuti Dharmawati
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10067

Abstract

This study aims to analyze the effect of performance-based budget planning on budget absorption, with employee commitment as a moderating variable, at the Public Broadcasting Institution of Radio Republik Indonesia (LPP RRI) Kendari. The research problem originates from the persistent deviation between the Fund Disbursement Plan (Page III of the DIPA) and actual budget realization, indicating that planning quality has not yet fully supported timely, well-targeted, and result-oriented budget implementation. The study employs a quantitative approach with a causal design. Primary data were collected through a five-point Likert-scale questionnaire administered to 35 employees directly involved in the planning, implementation, management, and reporting of the budget. Data were analyzed using Partial Least Square Structural Equation Modeling (PLS-SEM) with the assistance of SmartPLS. The results show that performance-based budget planning has a positive and significant effect on budget absorption, with an original sample coefficient of 0.656, a t-statistic of 5.605, and a p-value of 0.000. Employee commitment also has a positive and significant effect on budget absorption, with a coefficient of 0.370, a t-statistic of 3.452, and a p-value of 0.001. Furthermore, employee commitment is shown to strengthen the effect of performance-based budget planning on budget absorption, with an interaction coefficient of 0.236, a t-statistic of 2.369, and a p-value of 0.018. The structural model explains 71.6% of the variation in budget absorption (R² = 0.716; adjusted R² = 0.688), while the remaining 28.4% is explained by factors outside the model, such as human resource competence, the internal control system, or organizational culture. These findings confirm that optimizing public-sector budget absorption cannot rely solely on the quality of planning documents, but also requires the commitment of employees as the primary implementers of programs and activities.
The Influence of Chatbot Features on the Digital Reputation of Indonesian Sharia Banks Through Electronic Word of Mouth (E-WOM) Alyyatul Nisa Ragil Lesmana; Tri Inda Fadhila Rahma; Nur Ahmadi Bi Rahmani
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10397

Abstract

This study aims to analyze the influence of chatbot features on the digital reputation of Bank Syariah Indonesia through Electronic Word of Mouth (E-WOM). The development of digital services in the banking sector encourages banks to utilize chatbot technology to improve service quality for customers. However, the effectiveness of chatbot features in shaping the digital reputation of banks still requires further investigation. This research employs a quantitative approach using a survey method involving 150 respondents who are users of Bank Syariah Indonesia's digital services, selected through purposive sampling. Data were collected through questionnaires and analyzed using the Structural Equation Modeling–Partial Least Square (SEM-PLS) method with the SmartPLS application. The measurement model demonstrated adequate explanatory power, with R² values of 0.373 for E-WOM and 0.432 for digital reputation. The results indicate that chatbot features have a significant and substantial effect on Electronic Word of Mouth (E-WOM) (β = 0.610). Chatbot features also have a significant effect on the digital reputation of Bank Syariah Indonesia (β = 0.516), an effect that is stronger than the effect transmitted indirectly through E-WOM. Electronic Word of Mouth (E-WOM) is proven to have a significant effect on the digital reputation of Bank Syariah Indonesia (β = 0.199). Furthermore, the mediation analysis confirms that Electronic Word of Mouth (E-WOM) partially mediates the relationship between chatbot features and the digital reputation of Bank Syariah Indonesia (indirect effect = 0.122; p = 0.038). These findings suggest that well-developed chatbot features can encourage positive reviews and user experiences in digital media, which ultimately contribute to strengthening the digital reputation of Bank Syariah Indonesia.
Management Practices and Impacts of Religious Tourism Communities in Basariyah Sewulan Madiun Dwi Setya Nugrahini; Maulida Nurhidayati; Amila Amila; Miftahul Ghulam Al Fakhri; Puput Puspita Sari
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.9355

Abstract

The development of religious tourism not only contributes to the preservation of historical and spiritual values, but also to the well-being of the community through sustainable destination management. Basyariah Sewulan Madiun Religious Tourism is an Islamic history-based destination that continues to grow despite limitations in management and supporting facilities. This study aims to analyze destination management practices, identify supporting and inhibiting factors, and examine their implications for the welfare of the surrounding community. This study uses a qualitative approach with a field research design. Data is collected through interviews and in-depth observations, and analyzed through data reduction, presentation, verification, and conclusion making by triangulating sources to ensure credibility. The findings reveal that management has implemented planning, organizing, implementing, and supervision functions. Sustainability is supported by the foundation's independence, transparent management, mosque youth participation, and the uniqueness of the destination. However, limited infrastructure, suboptimal involvement of BUMDes, and concentrated visitor patterns remain challenges. These tourism sites contribute to increasing community income, promoting local MSMEs, and strengthening religious activities, although parking management still needs improvement. The study concludes that community-based management supports the sustainability of Basyariah Sewulan Madiun Religious Tourism, while stronger collaboration with village governments and BUMDs is needed to improve the quality of governance and expand economic benefits.
Islamic Microfinance as a Catalyst for Rural Financial Transformation: Evidence from BMT Wuluhan, Jember, Indonesia Rina Kumalasari; Achmad Farid
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.9936

Abstract

This study examines the role of Islamic microfinance as a catalyst for rural financial transformation through a case study of BMT Wuluhan Jember, Indonesia. The research addresses the persistent dependence of rural communities on informal lending practices, which often expose borrowers to high interest rates, financial vulnerability, and limited opportunities for sustainable economic development. Using a qualitative case study approach, data were collected through in-depth interviews, observations, and document analysis involving managers, financing officers, and customers of BMT Wuluhan. The data were analyzed using thematic analysis to identify patterns of financial behavior and transformation processes among participants. The findings reveal that Islamic microfinance contributes significantly to reducing dependence on informal lenders by providing accessible Sharia-compliant financing and fostering financial capability among rural communities. Beyond financial access, BMT Wuluhan promotes behavioral changes through financial literacy development, trust-based institutional relationships, and the integration of Islamic ethical values. These factors collectively encourage more responsible financial management and strengthen economic resilience among customers. The study further proposes a Rural Financial Transformation Pathway consisting of financial access, institutional trust, financial capability development, behavioral adaptation, and economic resilience. This research contributes to the Islamic microfinance literature by shifting the focus from financing provision to the broader process of financial transformation and sustainable financial inclusion in rural communities.
Critique of the Reduction of Riba to Interest: A Ma'na cum Maghza Analysis of QS al-Baqarah (2): 275–279 and its Relevance to Substantive Justice in Islamic Banking Ririn Noviyanti; Aunur Rofiq; Ilfi Nur Diana
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10127

Abstract

This study critiques the reduction of riba to interest through a ma'na cum maghza hermeneutical analysis of QS Al-Baqarah (2): 275–279, employing library research and thematic exegesis (maudhu'i). It addresses three gaps: the dominance of legalistic-formalistic approaches, the absence of practical substantive justice indicators, and the lack of structural critique of financial capitalism. The novelty lies in integrating hermeneutics with structural critique, formulating five operational ethical indicators, and offering policy recommendations. The findings reveal that equating riba with interest is methodologically and theologically flawed. The substantive message (maghza) is the principle lā tazlimūna wa lā tuzlamūn, rejecting all exploitation, including risk-free profit and time commodification. The 80–90% dominance of murabahah and tawarruq in Islamic banking portfolios demonstrates the reproduction of interest-in-disguise logic. Five ethical indicators are formulated: exchange justice, risk-reward proportionality, protection of vulnerable parties, debt spiral prevention, and transparency. The reconstruction of maghza yields three substantive justice indicators: non-exploitation of vulnerable parties, balanced risk-sharing, and real-sector orientation with social impact. This study offers a critical-transformative framework for Islamic banking to move beyond formal compliance toward substantive justice.
Zakat and Social Mobility: A Shift From Charity To Sustainable Welfare Nafi'ah Nafi'ah; Khoirul Fathoni
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 1 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i1.10146

Abstract

This study aims to critically analyze the welfare paradigm underlying zakat management in Indonesia and formulate a reorientation of zakat from a charity-based approach to a social mobility instrument for mustahik. The study employs a qualitative approach with a multiple-case study design on zakat institutions in Indonesia. Data were collected through in-depth interviews, non-participatory observation, and document analysis, then analyzed using thematic analysis within the framework of Islamic welfare theory and maqāṣid al- sharī'ah. The results show that the dominance of the charity paradigm has limited the role of zakat to curative and short-term functions, so that zakat, including productive zakat, has not been able to encourage sustainable changes in the socio-economic status of mustahik. Productive zakat tends to be symbolic, lacks mentoring, and is not equipped with outcome indicators and exit strategies, which have implications for the reproduction of dependency on mustahik. From the perspective of maqāṣid al- sharī'ah, this condition reflects the gap between the normative objectives of zakat and institutional practices. This study recommends reorienting zakat management towards a social mobility-based welfare paradigm by placing the independence of mustahik as the main indicator of success, strengthening long-term mentoring, and integrating zakat into the social development and Islamic social finance ecosystem.
Examining the Influence of Islamic Financial Literacy and Social Environment on Students' Interest in Islamic Banking Products Ali Fahmi; Faruk Faruk
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10175

Abstract

Behavioral intention to use Islamic banking products among vocational high school students is important for strengthening Islamic financial inclusion in Indonesia. However, the influence of Islamic financial literacy on behavioral intention remains inconsistent, while the role of the social environment among vocational students requires further examination. This study examines the effects of Islamic Financial Literacy and Social Environment on students' Behavioral Intention to use Islamic banking products. A quantitative approach was employed using saturated sampling involving all 51 students of the Islamic Banking Department at SMK Muhammadiyah 1 Surabaya. Data were collected through a structured questionnaire and analyzed using multiple linear regression. The results show that Islamic Financial Literacy has a positive but insignificant effect on Behavioral Intention (β = 0.155; p = 0.224). In contrast, Social Environment has a positive and significant effect (β = 0.777; p < 0.001). Simultaneously, both variables significantly influence Behavioral Intention, with the model explaining 67.4% of its variance (R² = 0.674). The findings indicate that improving behavioral intention requires not only financial literacy but also a supportive social environment involving educational institutions, families, and Islamic banking stakeholders.
Optimality Option Analysis of Raw Material Inventory Control Methods at Bandung Donut Pops MSMEs Siti Amelia Sari; Ria Arifianti; Anang Muftiadi
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10199

Abstract

This study aims to analyze the optimality of inventory control methods for raw materials at Donat Pops MSME in Bandung using the Economic Order Quantity (EOQ), Reorder Point (ROP), and Safety Stock approaches. The research is motivated by inefficiencies in conventional inventory management practices, which lead to high ordering costs, unstable stock levels, and production disruptions. A quantitative descriptive method with a case study approach was employed using operational data from 2025. The analysis was conducted by calculating EOQ to determine optimal order quantity, ROP to define the reorder threshold, and safety stock to mitigate demand and lead time uncertainty.The results show that the EOQ model produces an optimal order quantity of 1,341 kg, reducing ordering frequency from approximately 70 times to 27 times per year. The Reorder Point of 450 kg ensures production continuity, while the Safety Stock of 90 kg acts as a buffer against stockout risks. Overall, the implementation of EOQ, ROP, and Safety Stock achieves a 37.4% reduction in total inventory costs compared to the existing system. These findings indicate that quantitative inventory management not only improves MSME operational efficiency but also aligns with Islamic economic principles such as avoiding waste (israf), optimizing resource utilization, and achieving maslahah (public benefit).
Market Reaction to Sharia Securities Reclassification: Infrastructure Sector in Indonesia Stock Exchange Chomank Zaitun Misbah De Parta; Hasbudin Hasbudin; Sulvariany Tamburaka
Indonesian Journal of Islamic Economics and Finance Vol. 6 No. 2 (2026)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v6i2.10318

Abstract

The periodic reclassification of the Sharia Securities List (DES) by the OJK can theoretically trigger market reactions through buying and selling pressure from Sharia institutional investors. This study aims to analyze capital market reactions to DES reclassifications involving infrastructure sector stocks on the Indonesia Stock Exchange during the 2021–2025 period by comparing the CAAR between stocks added to and removed from the DES over an 11-day event window surrounding each reclassification announcement, employing a quantitative event study method with a Market Model estimated over a 120-trading-day estimation window to calculate normal returns. The final sample consists of 45 observations after excluding those with insufficient historical data due to recent IPO’s or prolonged trading suspensions. The results show that the CAAR for both the inclusion and exclusion groups is not statistically significant, and that the market reaction is, in fact, opposite to the price-pressure hypothesis commonly proposed in the indeks-effect literature. A formal two-group difference test also indicates that the asymmetry between the inclusion and exclusion groups is not yet significant. The implications of this study suggest that investors cannot consistently obtain abnormal returns from trading strategies around DES announcements.

Page 23 of 25 | Total Record : 243

 21   22   23   24   25 

Filter by Year

2021 2026


Reset
Filter By Issues
All Issue Vol. 6 No. 2 (2026) Vol. 6 No. 1 (2026) Vol. 5 No. 2 (2025) Vol. 5 No. 1 (2025) Vol 5 No 1 (2025) Vol 4 No 2 (2024) Vol. 4 No. 2 (2024) Vol 4 No 1 (2024) Vol. 4 No. 1 (2024) Vol 3 No 2 (2023) Vol. 3 No. 2 (2023) Vol. 3 No. 1 (2023) Vol 3 No 1 (2023) Vol. 2 No. 2 (2022) Vol 2 No 2 (2022) Vol. 2 No. 1 (2022) Vol 2 No 1 (2022) Vol 1 No 2 (2021) Vol. 1 No. 2 (2021) Vol. 1 No. 1 (2021) Vol 1 No 1 (2021) More Issue