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Contact Name
Yuli Andriansyah
Contact Email
yuliandriansyah@uii.ac.id
Phone
+6285369607374
Journal Mail Official
jurnal.lariba@uii.ac.id
Editorial Address
Gedung K.H. A. Wahid Hasyim, Kampus Terpadu UII, Jl. Kaliurang KM 14,5, Besi, Sleman, DI Yogyakarta, 55584
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
Journal of Islamic Economics Lariba
ISSN : 24774839     EISSN : 25283758     DOI : https://doi.org/10.20885/jielariba
Journal of Islamic Economics Lariba provides a platform for academicians, researchers, lecturers, students, and others having concerns about Islamic economics, finance, and development. The journal welcomes contributions on the following topics: Islamic economics, Islamic public finance, Islamic finance, Islamic accounting, Islamic business ethics, Islamic banking, Islamic insurance, Islamic human resource management, Islamic microfinance, Islamic capital market, and other relevant Islamic economic and financial studies.
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ESG disclosure, capital structure, and profitability in explaining firm value of Indonesia’s IDX ESG Leaders: Some notes from Islamic finance perspectives‎ Dewi, Hastin Riska; Muhyarsyah, Muhyarsyah
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art1

Abstract

IntroductionThe increasing importance of sustainability and responsible investment has led to growing attention to environmental, social, and governance disclosure in global markets. In Indonesia, the establishment of the IDX ESG Leaders index provides a relevant platform to evaluate how such disclosure, alongside financial fundamentals, contributes to firm value. Despite expectations that non-financial transparency enhances valuation, empirical findings in emerging markets remain inconsistent, warranting further investigation.ObjectivesThis study examines the effects of environmental, social, and governance disclosure and capital structure on firm value among firms listed in the IDX ESG Leaders index from 2020 to 2023. It also explores whether profitability moderates these relationships by strengthening or weakening their impact on valuation.MethodThe research adopts a quantitative approach using panel data regression with 68 firm-year observations from 17 IDX ESG Leaders firms. ESG disclosure indices were constructed through content analysis of annual and sustainability reports, while financial data were obtained from audited statements. Profitability, proxied by return on assets, was incorporated as a moderating variable through moderated regression analysis to identify conditional effects.ResultsThe findings reveal that environmental and social disclosure do not directly influence firm value, while governance disclosure exerts a significant negative effect. Capital structure shows a strong positive impact, and profitability both directly enhances firm value and moderates certain relationships. Specifically, profitability weakens the effect of social disclosure but strengthens the influence of capital structure, suggesting that investors prioritize financial fundamentals over non-financial reporting.ImplicationsThe results highlight the conditional relevance of ESG disclosure in emerging markets and reinforce the continuing importance of profitability and capital structure. Theoretically, the study challenges the universality of stakeholder and signaling theories by revealing context-dependent effects. Practically, it provides guidance for managers to align disclosure with financial strength and for policymakers to strengthen ESG reporting standards.Originality/NoveltyThis study contributes to the literature by disaggregating ESG disclosure into environmental, social, and governance dimensions and incorporating profitability as a moderating variable. It provides new evidence from Indonesia’s capital market, offering insights into how non-financial transparency interacts with financial strategies to shape firm value.
The mediating role of financial performance in the relationship between green accounting, leverage, and firm value in basic materials sector companies listed on Indonesia Sharia Stock Index Idayanti, Rini; Nurlia, Nurlia
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art2

Abstract

IntroductionIn recent years, the growing emphasis on sustainability and ethical investment has prompted firms to integrate green accounting and financial management practices into their business strategies. However, evidence regarding the impact of green accounting and leverage on firm value, particularly within Islamic capital markets, remains inconclusive. This study investigates how green accounting and leverage affect firm value, with financial performance acting as a mediating variable, among basic materials firms listed on the Indonesia Sharia Stock Index (ISSI).ObjectivesThis research aims to analyze the direct and indirect effects of green accounting and leverage on firm value through financial performance. It also seeks to determine whether sustainability-oriented accounting practices contribute to firm valuation and to evaluate the mediating role of profitability in shaping these relationships within an Islamic financial context.MethodA quantitative research design was employed using panel data from six basic materials firms listed on the ISSI during 2019–2023. Green accounting was measured using environmental cost disclosure, leverage by the debt-to-equity ratio, financial performance by return on assets, and firm value by Tobin’s Q. Data were analyzed using path analysis and the Random Effect Model, supported by classical assumption and Sobel tests to assess mediation effects.ResultsThe findings indicate that green accounting and leverage do not have significant direct effects on either financial performance or firm value. However, financial performance significantly mediates the relationship between green accounting and firm value, suggesting that sustainability initiatives enhance firm valuation indirectly through profitability. In contrast, financial performance does not mediate the relationship between leverage and firm value. These results demonstrate that environmental accountability contributes to firm value when translated into financial efficiency but not through debt-financed strategies.ImplicationsThis study highlights the need for firms to integrate environmental expenditures as strategic investments rather than operational costs. It underscores the importance of aligning sustainability initiatives with financial management and governance frameworks to optimize firm value. Policymakers should strengthen regulatory incentives for environmental reporting and enhance investor awareness to bridge the gap between sustainability performance and market valuation.Originality/NoveltyThis study contributes to sustainability accounting and Islamic finance literature by empirically establishing the mediating role of financial performance in the relationship between green accounting and firm value. It provides new insights into how environmentally responsible practices create value in emerging Islamic capital markets.
The influence of Sharia implementation, financing access, and managerial capacity on MSME performance in Medan City, Indonesia Hasibuan, Muhammad Zulkifli; Ramon, Herdi; Samio, Samio; Nurjannah, Nurjannah; Rijal, Rijal
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art3

Abstract

IntroductionMicro, Small, and Medium Enterprises (MSMEs) play a vital role in Indonesia’s economy, contributing significantly to national income and employment. Within this sector, Shariah-compliant MSMEs have emerged as strategic actors that integrate ethical, transparent, and socially responsible business principles aligned with Islamic law. However, limited empirical research has analyzed how Shariah implementation, access to Shariah-based financing, and managerial capacity collectively influence MSME performance, particularly at the city level in Medan.ObjectivesThis study aims to examine the effects of Shariah implementation, access to Shariah-compliant financing, and managerial capacity on MSME performance in Medan, Indonesia. It further investigates the mediating role of managerial capacity in translating Shariah compliance into business growth and employment generation, providing theoretical and practical insights into the development of Shariah-based MSMEs.MethodA mixed-methods sequential explanatory design was employed. The quantitative phase involved a survey of 389 Shariah-compliant MSMEs across key sectors in Medan, analyzed using multiple regression and bootstrap mediation tests. The qualitative phase comprised 20 semi-structured interviews to explore managerial experiences and ethical practices. Triangulation ensured reliability and validity of results, while thematic analysis supported contextual interpretation.ResultsThe findings indicate that Shariah implementation, access to Shariah financing, and managerial capacity each have significant positive effects on MSME revenue and employment growth. Managerial capacity partially mediates the relationship between Shariah implementation and business performance, underscoring its central role in operationalizing ethical values. Qualitative evidence reveals that ethical governance and financial literacy enhance innovation, resilience, and stakeholder trust among Shariah-compliant MSMEs.ImplicationsThe study demonstrates that integrating Shariah principles with managerial competence strengthens MSME sustainability and competitiveness. Policymakers and financial institutions should expand Shariah-compliant financial access, reinforce managerial training, and promote digital Islamic finance to foster inclusive, ethical entrepreneurship.Originality/NoveltyThis research offers empirical evidence linking Islamic ethical principles with measurable business performance, validating managerial capacity as a mediating mechanism. It contributes to Islamic economic literature by presenting a city-level model for sustainable, value-based MSME development that bridges faith, ethics, and economic growth.
The dynamics of mosque fund management in Old Order Indonesia Fahmi, Rizqi Anfanni; Fauzia, Amelia; Razzaq, Abdur
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art4

Abstract

Introduction The management of mosque funds in Indonesia during the Old Order period (1945-1965) played a vital role in religious and social life. Mosques became central to national identity and cohesion, supported by Ad Hoc committees. This study examines the balance between state control and local autonomy in mosque fund management.ObjectivesThis study investigates the dynamics of mosque fund management in the Old Order period, focusing on the roles of Ad Hoc committees and the Ministry of Religious Affairs. It aims to explore how state intervention and Islamic charitable practices like zakat and waqf influenced mosque sustainability and governance.MethodA historical methodology is used, involving four stages: heuristics (source identification), verification (source cross-checking), interpretation (data analysis), and historiography (situating the study in literature). Primary and secondary sources, including government records and newspapers, are analyzed to understand mosque fund management during Indonesia's early independence period.ResultsFindings reveal a balance between local autonomy and centralized state control in mosque fund management. Ad Hoc committees fostered community involvement, while the Ministry of Religious Affairs centralized governance, affecting local autonomy. Islamic charitable practices, particularly zakat and waqf, were crucial for mosque sustainability but faced governance challenges.ImplicationsThis study highlights the need for balancing government regulation with local community participation in mosque management. It also emphasizes the significance of Islamic charitable practices, suggesting that integrating local needs with state oversight can lead to more sustainable and transparent religious institution management.Originality/NoveltyThis research contributes new insights by examining mosque fund management during Indonesia's Old Order period, focusing on the interaction between local governance and state control. It offers a unique historical perspective on the challenges and successes of mosque management, enriching the understanding of post-colonial religious governance.
Determinants of food producers’ intentions to obtain halal certification: An integrated TPB–halal model in Bali, Indonesia Niswa, Harisatun; Diana, Ilfi Nur; Yuliana, Indah
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art5

Abstract

IntroductionHalal certification has become increasingly important for food producers operating in non-Muslim-majority destinations such as Bali, where Muslim tourism continues to expand. Although numerous studies investigate halal consumption behavior, research examining producers’ intentions to obtain halal certification remains limited. This study extends existing knowledge by integrating halal knowledge and halal awareness into the Theory of Planned Behavior to explain certification intentions among food-sector entrepreneurs.ObjectivesThe study aims to identify and analyze the determinants influencing food producers’ intentions to obtain halal certification in Bali by assessing the roles of attitude, subjective norms, perceived behavioral control, halal knowledge, and halal awareness within an integrated behavioral framework.MethodA quantitative research design was employed, involving 150 food producers selected using non-probability sampling. Data were collected through a structured questionnaire and analyzed using Partial Least Squares Structural Equation Modeling. Measurement and structural models were assessed to evaluate validity, reliability, and the significance of hypothesized relationships.ResultsThe findings show that all five determinants—attitude, subjective norms, perceived behavioral control, halal knowledge, and halal awareness—positively and significantly affect producers’ intentions to obtain halal certification. The model explains 85.9 percent of the variance in intention, demonstrating strong predictive power. The results highlight the combined influence of cognitive, social, and religious factors in shaping certification decisions.ImplicationsThe study provides theoretical contributions by expanding the Theory of Planned Behavior with halal-specific constructs and offers practical insights for policymakers, certification bodies, and industry stakeholders in promoting halal certification through education, technical assistance, and supportive regulatory frameworks.Originality/NoveltyThis research provides a comprehensive behavioral model for understanding halal certification intentions in a minority-Muslim tourism context, offering new insights into how halal knowledge and awareness strengthen producers’ decisions to pursue formal certification.
Strengthening SEHATI self-declare halal certification in South Kalimantan: Roles, constraints, and field practices of Halal Product Process Companions Makiah, Zulpa; Sauri, Supian; Sahal, Lutpi
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art8

Abstract

IntroductionIndonesia’s halal certification regime has expanded rapidly following the Halal Product Assurance Law, positioning halal assurance as both a consumer protection instrument and a strategic requirement for micro and small enterprises. To accelerate inclusion, the Free Halal Certification Program (SEHATI) applies a self-declare pathway that depends heavily on Halal Product Process Companions to facilitate verification and validation at the grassroots level. However, implementation performance varies across regions, raising questions about how frontline facilitation shapes program outcomes in geographically dispersed provinces such as South Kalimantan.ObjectivesThis study examines how Halal Product Process Companions operationalize SEHATI in South Kalimantan by analyzing their roles, constraints, and adaptive practices in assisting micro and small enterprises through the self-declare halal certification process. It also explores the structural and technical factors that contribute to implementation gaps between program targets and realized certification outcomes.MethodThis research used a qualitative field research design. Data were collected through semi-structured, in-depth interviews with 37 Halal Product Process Companions selected purposively across districts and cities in South Kalimantan. Secondary data were obtained from relevant regulations, institutional reports, and prior studies. The analysis followed an iterative qualitative procedure involving data reduction, data display, and conclusion drawing.ResultsThe findings show that Halal Product Process Companions function as hybrid implementers who perform two interdependent roles: educating micro and small enterprises about halal requirements and providing technical support for verification, validation, and digital submission. Implementation is constrained by administrative complexity, unstable internet connectivity, platform limitations, and uneven institutional support. At the enterprise level, limited digital literacy, uneven halal knowledge, and weak responsiveness delay certification completion and increase facilitation workload. These conditions explain why SEHATI outcomes may fall short of targets despite simplified procedures.ImplicationsThe study highlights that SEHATI effectiveness depends on integrated capacity building and institutional support, including improved digital infrastructure, simplified workflows, stronger training, and structured supervision to sustain both accessibility and certification credibility.Originality/NoveltyThis research contributes field-based evidence on self-declare halal certification implementation by centering Halal Product Process Companions as frontline intermediaries whose dual roles and constraints shape the practical success of SEHATI at the provincial level.
Transforming Islamic religious counselors into agents of mosque-based community economic empowerment in Pesawaran Regency Asmaria, Asmaria; Noviarita, Heni; Wakhid, Ali Abdul; Setiawati, Rini
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art6

Abstract

IntroductionIslamic religious counselors have traditionally focused on spiritual guidance, yet evolving socio-economic demands have expanded their role into community economic empowerment. Mosques and religious institutions now serve as hubs for entrepreneurship development, sharia-based financial literacy, halal certification assistance, and digital outreach. However, empirical studies examining how this role transformation unfolds at the local level, particularly in Indonesia, remain limited.ObjectivesThis study analyzes the transformation of Islamic religious counselors in Pesawaran Regency into agents of community economic empowerment. It identifies the strategies they employ, the enabling and constraining factors that shape their work, and the wider implications for community welfare, institutional development, and faith-based economic initiatives.MethodUsing a qualitative descriptive design, the study collected data through in-depth interviews, participant observations, and document analysis. Informants included counselors, local religious leaders, microenterprise actors, and community members selected purposively to ensure relevance and depth. Data were analyzed using thematic techniques to capture patterns of practice, challenges, and perceived outcomes.ResultsFindings indicate that counselors have integrated da‘wah with economic facilitation through mosque-based mentoring, financial literacy education, halal certification support, and digital tools. These efforts strengthened business skills, increased market access, and enhanced economic confidence among microenterprises. Structural constraints—such as limited counselor capacity, weak interagency coordination, and insufficient evaluation mechanisms—restricted program scalability, yet community trust and cross-sector partnerships enhanced effectiveness.ImplicationsThe study highlights the potential of counselor-led, mosque-centered empowerment as a culturally grounded model for community development. Strengthening governance, digital capacity, and evaluation systems is essential for sustaining impact and expanding inclusion.Originality/NoveltyThis research provides one of the most detailed qualitative accounts of counselor-led economic empowerment in an Indonesian locality, offering conceptual, practical, and policy insights into the alignment of da‘wah, Islamic economic principles, and community development.
The challenges of literacy, inclusion, and public trust in the digital Islamic banking ecosystem: An urban context study in Indonesia Hasan, Hurriah Ali; Razaq, Abd Rahim; Sa'aid, Hafizah Besar
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art7

Abstract

IntroductionThe development of Islamic banking in Indonesia shows great potential, but still faces literacy constraints, public trust, and low inclusion. The public understands the basic principles of Islamic banking but has not mastered the technical aspects of operations. Digital transformation, which is supposed to expand access to Islamic financial institutions, has not been optimally utilized due to informational barriers, risk perception, and quality of digital services.ObjectivesThis study aims to analyze the relationship between Islamic banking literacy, trust, and inclusion, identify the main obstacles in the use of digital services of Islamic financial institutions, and formulate strategies that can break the cycle of problems related to low public understanding and participation. The study also evaluates how education, transparency, and digital innovation can increase engagement in Islamic banking.MethodThis study uses a descriptive quantitative approach with a cross-sectional design. Data was obtained through a structured questionnaire to 198 respondents in Makassar City. Descriptive statistical analysis is used to describe literacy, trust, and inclusion levels, as well as identify patterns of structural, informational, and perceptual barriers in the use of Islamic banking services, especially digital-based ones..ResultsThe results show that public literacy is still at the level of basic and general understanding, public trust is low due to lack of transparency, while inclusion is hampered by lack of information, limited digital infrastructure, and negative perceptions. The adoption of sharia digital technology is very low despite the high ownership of smartphones. Key barriers include awareness, risk perception, and the quality of the app's user experience.ImplicationsThese findings confirm the need for strategies to improve operational literacy, institutional transparency, and digital innovation based on user needs. Strengthening regulations, optimizing the role of the Sharia Supervisory Board (Dewan Pengawas Syariah - DPS), and collaboration with fintech can increase trust and inclusion. The results of the research provide more effective policy direction and service design to accelerate the transformation of Islamic banking.Originality/NoveltyThis research offers a new perspective by integrating three variables—literacy, trust, and inclusion—in the digitalization of Islamic banking. The study highlights digital barriers from a user experience perspective, not just technology access. This approach results in innovative recommendations based on transparency, user experience, and more applicable educational strategies.
Harnessing Islamic FinTech for disaster risk financing: Innovative strategies for economic resilience and sustainable development Nipa, Nazmin Naher; Zahid, Zahiduzzaman; Amin, Md. Ruhul; Alamm, Md. Shahed; Haque, Zubair Muhammad Ehsanul; Parves, Muhammad Masud
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art9

Abstract

IntroductionNatural and human-induced disasters have become more frequent and severe, resulting in significant economic losses, particularly in developing countries. Traditional disaster risk financing mechanisms often fail to adequately serve vulnerable populations due to high costs, limited accessibility, and delayed disbursements. This study explores how Islamic finance principles, when integrated with financial technology (FinTech), can provide scalable, Sharia-compliant solutions for enhancing disaster risk financing (DRF).ObjectivesThe primary objective of this research is to examine the potential of combining Islamic finance mechanisms such as Zakat, Sadaqah, and Waqf with FinTech innovations, including blockchain, smart contracts, and mobile platforms, to improve accessibility, efficiency, and transparency in DRF. This study aims to identify how these integrated solutions can enhance economic resilience, financial inclusion, and alignment with the United Nations Sustainable Development Goals (SDGs).MethodA mixed-methods approach was employed, utilizing case studies from Southeast Asia, the Middle East, and Africa, alongside a survey (n=100) and expert interviews (n=12). The case studies focused on the application of Islamic finance and FinTech innovations in disaster-prone regions. Surveys and interviews provided empirical insights into the effectiveness of these solutions and the challenges faced in implementing them.ResultsThe study found that Islamic FinTech platforms raised an average of $24 million per disaster event, reduced disbursement times by 30-40%, and achieved adoption rates of 45-70%. Despite challenges such as regulatory barriers and digital literacy gaps, these solutions significantly enhanced financial inclusion and economic resilience, aligning with SDG 1, SDG 9, and SDG 13.ImplicationsThe research suggests that integrating Islamic finance with FinTech can provide a transformative approach to DRF, offering more inclusive, efficient, and transparent solutions. Policy recommendations include the development of unified Sharia-compliant FinTech standards and infrastructure investments to scale these solutions in disaster-prone regions.Originality/NoveltyThis study contributes to the emerging field of Islamic FinTech by bridging the gap between Islamic finance principles and modern digital technologies to enhance disaster risk financing, particularly in developing and Muslim-majority countries.
Designing a Cultural-Strategic Islamic Communication Audit Model for non-transportation asset governance in PT Kereta Api Indonesia SubDIVRE 1.1 Aceh Rakatiwi, Yolandha; Sazali, Hasan; Samosir , Hasrat Efendi
Journal of Islamic Economics Lariba Vol. 12 No. 1 (2026)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol12.iss1.art10

Abstract

IntroductionThe governance of non-transportation assets in state-owned railway enterprises requires not only legal and administrative control but also effective organizational communication. In Aceh, where socio-religious norms strongly influence public legitimacy, communication practices surrounding asset safeguarding and commercialization face distinctive challenges. Despite the strategic value of railway land and buildings, communication audits have not been systematically institutionalized, creating coordination gaps and social resistance.ObjectivesThis study analyzes the implementation of communication audits in managing non-transportation assets at PT Kereta Api Indonesia SubDIVRE 1.1 Aceh and formulates a culturally grounded audit model suited to Aceh’s socio-religious context.MethodThe research employs a descriptive qualitative and evaluative approach. Data were collected through in-depth interviews, participatory observation, and document analysis involving company leaders, asset managers, operational staff, commercial partners, and community representatives. Informants were selected using purposive and snowball sampling. Data credibility was strengthened through triangulation and member checks, and analysis followed an interactive model of data reduction, display, and verification.ResultsFindings indicate that communication audits are not formally structured but occur informally through meetings and routine evaluations. Internal communication remains predominantly top-down, with limited cross-unit coordination and insufficient communication competencies. Externally, while negotiation with partners is perceived as transparent, broader stakeholder engagement lacks cultural adaptation and participatory dialogue. Resistance to asset policies often stems from inadequate alignment with Acehnese values such as deliberation, communal consensus, and the mediating role of religious and traditional leaders.ImplicationsThe study proposes a Cultural-Strategic Islamic Communication Audit Model that integrates systematic planning, exploratory and focused interviews, strategic analysis, follow-up mechanisms, and participatory evaluation. Embedding local socio-religious values into communication governance can enhance transparency, legitimacy, and conflict prevention in asset commercialization.Originality/NoveltyThis research advances communication audit scholarship by contextualizing it within Islamic governance and local cultural structures, offering a model that bridges organizational communication strategy and socio-religious legitimacy in public asset management.

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