Journal of Islamic Economics Lariba
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.
Articles
237 Documents
<![CDATA[Impact of Investor Sentiment, Exchange Rates, and Foreign Capital Flow on Jakarta Islamic Index Stock Returns ]]>
<![CDATA[Rizal Ansari]]>;
<![CDATA[Tulasmi]]>;
<![CDATA[Sawitri]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 1 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss1.art13
<![CDATA[This study examines the impact of investor sentiment, changes in exchange rates, and foreign capital flow on the Jakarta Islamic Index's return. This study uses daily data between January 2, 2017, and December 30, 2021. After examining the characteristics of autocorrelation and stationarity, we apply the Difference-Generalized Methods of Moment (D-GMM) model. In short, we do not find the effect of investor sentiment on stock returns in both contemporaneous and lag periods. Meanwhile, significant changes in exchange rates have a negative effect on stock returns on contemporaneous and lags, but foreign portfolio flows on contemporaneous and significant lags positively affect stock returns. Thus, our results have implications for trading strategies, asset pricing, and portfolio management carried out by foreign investors on Islamic stocks in Indonesia.]]>
<![CDATA[Amil Zakat Institutions Performance Analysis During the Covid-19 Pandemic: Studies in Indonesia, Singapore, and England ]]>
<![CDATA[Abd. Akram H]]>;
<![CDATA[Tettet Fitrijanti]]>;
<![CDATA[Dini Rosdini]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art2
<![CDATA[The Amil Zakat Institution is required to have efficient and effective performance, especially during the Covid-19 health crisis. This study aims to measure the performance of amil zakat institutions in Indonesia, Singapore, and England based on the efficiency level with the Data Envelopment Analysis approach and the level of effectiveness with the Allocation to Collection Ratio approach. The efficiency level of amil institutions was measured using the Data Envelopment Analysis method, the non-parametric statistical approach used in calculating the relativity of efficiency. The software used to measure Data Envelopment Analysis is DEAP 2.1. The results of efficiency measurements based on the Data Envelopment Analysis showed that Dompet Dhuafa, Majlis Ugama Islam Singapore (MUIS), and the National Zakat Foundation (NZF) achieved optimal and efficient performance during the Covid-19 pandemic (in 2020), but experienced inefficiency before the Covid-19 pandemic in 2017 (Dompet Dhuafa), 2018 (Dompet Dhuafa & NZF), and 2019 (MUIS). If assessed based on effectiveness in channeling funds using the Allocation to Collection Ratio, Dompet Dhuafa, Majlis Ugama Islam Singapore, and the National Zakat Foundation achieved effective values both before and during the Covid-19 pandemic.]]>
<![CDATA[Does Brand Love Affect Brand Loyalty for Halal Product Consumers in Central Java? ]]>
<![CDATA[Rola Nurul Fajria]]>;
<![CDATA[Siti Hasanah]]>;
<![CDATA[Suryani Sri Lestari]]>;
<![CDATA[Sam'ani]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art8
<![CDATA[This study aims to analyze the relationship between brand love and brand loyalty of consumers of halal products in Central Java. The data were collected from 359 consumers of halal products. The SEM-PLS analysis was used to study the relationship between variables. All the proposed hypotheses were positively significant, except religiosity, which has not moderated the relationship between Brand Love and Brand Loyalty. This study confirms that brand love is significantly affected by brand trust, brand image, and brand experience. Also, Brand Love has a positive effect on Brand Loyalty. This study has contributed by exploring the intensity of brand love and its effect on Brand Loyalty in the halal product in Central Java, Indonesia. In addition, in terms of achieving brand image, which is the highest antecedent of love for the brand, it can be a consideration for marketers who offer halal products to potential consumers. Besides, that will also add to the existing knowledge about consumer-brand relationships in Central Java, Indonesia.]]>
<![CDATA[Implementation of Murabahah Financing Transactions at Islamic Commercial Banks After the Abolition of Value-Added Tax ]]>
<![CDATA[Iwan Setiawan]]>;
<![CDATA[Ahmad Mudzakir]]>;
<![CDATA[Nurhaeti]]>;
<![CDATA[Gina Sakinah]]>;
<![CDATA[Ade Ponirah]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art3
<![CDATA[The characteristics of Islamic banking that distinguish it from conventional banking are the basis of transactions associated with the real sector. This study aims to analyze the differences in murabahah financing transactions in Islamic commercial banks after the abolition of value-added tax. The population in this study was all Islamic commercial banks in Indonesia, with 14 samples using the saturated sample technique. This type of research data is secondary data obtained from Islamic banking performance reports on the official website of the Financial Services Authority. This research is a quantitative study with analysis using a paired-sample t-test utilizing IBM® SPSS® Statistics. The results showed differences in murabahah financing transactions after the abolition of value-added tax. The hypothesis is supported with a t-statistical value of 14,213 Sig. 0.000. It can be concluded that it is empirically proven that there are significant differences in murabahah financing transactions after the elimination of value-added tax. These results can be positive input for Islamic commercial banks to increase murabahah financing transactions after the abolition of value-added tax.]]>
<![CDATA[Factors Influencing Muslim Consumer’s Satisfaction and Loyalty of Restaurant in Yogyakarta, Indonesia ]]>
<![CDATA[Sumadi]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art4
<![CDATA[The objective of this study is to investigate the factors that affect Muslim customers' satisfaction and loyalty in Yogyakarta, Indonesia. Customers of restaurants in Yogyakarta are all Muslims. Non-probability sampling was administered to collect data and total of 120 questionnaires were collected. Questionnaires were delivered directly to the target respondents both in person and online by employing a Google form. The Statistical Equation Modeling (SEM) statistical analysis tool, available in IBM® SPSS® Amos, was administered to determine the data. The study's findings demonstrate that customer satisfaction is positively and significantly influenced by product quality, service quality, and halal certification. In addition to that, customer loyalty is significantly influenced by customer satisfaction. Customer loyalty is directly impacted by factors such as product quality and service quality, but halal certification does not possess a positive or significant direct impact on loyalty. Halal assurance must pass through the satisfaction intervening variable before having an impact on loyalty.]]>
<![CDATA[Impact of Islamic Financing on Working Capital Management of Micro, Small, and Medium Enterprises in Tanjungpinang City, Indonesia ]]>
<![CDATA[Firdaus]]>;
<![CDATA[Sella Kurnia Sari]]>;
<![CDATA[Deva Dwi Anggara]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art5
<![CDATA[The purpose of this study was to analyze the effect of Islamic financing on the ability of working capital management of micro, small, and medium enterprises (MSMEs) in Tanjungpinang City, the Riau Islands Province, Indonesia. This study uses primary data that is processed quantitatively by using multivariate regression analysis using Stata. Primary data in this study were obtained from respondents using questionnaires, and secondary data were obtained from Statistics Indonesia. The research location in this study was Tanjungpinang City. The sample was determined using non-probability sampling with a sample of 125 MSMEs. Data collection techniques were carried out by conducting interviews and questionnaires. The results showed that the factors of musharakah and murabahah financing affect the variables such as average billing period, average payment period, cash turnover, and the ratio of current assets to total assets in MSMEs in Tanjungpinang City. MSMEs can adopt Islamic financial models to reduce operational costs by eliminating interest rates.]]>
<![CDATA[Effectiveness of Online Zakat during the Covid-19 Pandemic by Amil Zakat Institutions in Boyolali, Indonesia ]]>
<![CDATA[Lukmanul Hakim]]>;
<![CDATA[Anggara Indra Setyaningsih]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art6
<![CDATA[Zakat is the third pillar of Islam that should be fulfilled for Muslims and has a high worship value in Allah SWT. The existence of this zakat can alleviate poverty and increase state income if a country can optimize the collection of zakat funds. One way to optimize the collection is to use digital technology. At this time, the amil zakat institution has harnessed the complexity of digital technology to collect zakat funds online. This study aims to determine the effectiveness of online zakat and which amil zakat institution is more efficient in using online zakat, specifically at the amil zakat institutions: BAZNAS Boyolali, LAZISMU Boyolali, and LAZ Harapan Umat Boyolali. The research used is a type of qualitative research. The data is derived from primary sources such as interviews and documentation and secondary sources such as scientific articles. The results of this study show that online zakat is quite effective to use, as evidenced by the percentage increase in funds from 2019-2021. BAZNAS Boyolali increased by 15.9%, LAZISMU Boyolali increased by 118%, and LAZ Harapan Umat Boyolali increased by 91%. Additionally, it can be demonstrated by the fewest flaws and complaints about Online zakat. It can provide convenience for muzakki to pay zakat wherever and whenever. The most popular online zakat payment option is WhatsApp for individuals and payroll for ASN or other private employees.]]>
<![CDATA[Determinants of the Effectiveness of the Islamic Insurance Industry Spin-Off Implementation in Indonesia with the Analytical Hierarchy Process Approach ]]>
<![CDATA[Erny Arianty]]>;
<![CDATA[Akhmad Khabibi]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art7
<![CDATA[This study aims to analyze the factors that have the highest level of importance in realizing the spin-off implementation of the Sharia Insurance Industry. The method used is qualitative with an Analytical Hierarchy Process (AHP) approach. Data were obtained from FGDs and AHP questionnaires with informants from AASI, the sharia life and general insurance industry, the Sharia Supervisory Board, the government, and regulators. The research results show that the clarity of policy, or spin-off criteria, has the highest importance. The sub-criteria with the highest level of importance is the clarity in value of tabarru funds which is 50% of the parent fund. The next factor is the actual practice in the industry and the function of monitoring and supervision, respectively. The factors that have the highest level of importance in realizing spin-off effectiveness are the relaxation of a specific aspect and the action of the industry, whether to continue or postpone the spin-off. These aspects include the implementation of tax relief based on the book value of the company's assets, relaxation in reducing costs that occur during and after the spin-off until the SBU is stable and independent, policies related to bank assurance, and policies related to capital. The research implication for industry and regulation considers determining integrated and coordinated efforts to achieve an effective spin-off implementation. The limitation of this research is in determining the factors not based on sub-criteria but the factors as a whole. The novelty of this research is in determining the topic and method, namely analyzing the most dominant factors to realize effectiveness with the AHP method.]]>
<![CDATA[Impact of Instagram Posts, Instagram Stories, and Instagram Reels on Brand Awareness of Muslim Clothing Brand Zombasic ]]>
<![CDATA[Junaidi Safitri]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art9
<![CDATA[This study analyzes how the use of Instagram posts, Instagram stories, and Instagram reels impact brand awareness of the Muslim clothing brand Zombasic. This study uses quantitative research methods with multiple linear regression data analysis techniques. This research was conducted using data obtained from online questionnaires, with a total population of 236,000 followers and a sample of 100 respondents with the criteria of active Instagram users following the Zomabasic Instagram account. The results partially show that using the Instagram post feature does not have an effective and significant impact on brand awareness, with a variable coefficient value of 0.031. The use of the Instagram Stories feature has an effective and significant impact on brand awareness with a variable coefficient value of 0.710, and the use of the Instagram reels feature has an effective and significant impact on brand awareness with a variable coefficient value of 0.223. The results show a coefficient of determination (R²) value of 69%, which means that the use of the Instagram Post, Stories, and Reels features have an effective level of 69%.]]>
<![CDATA[Factors Influencing Muslim Investors to Invest in Sharia Stocks during the Covid-19 Pandemic ]]>
<![CDATA[Aqida Shohiha]]>;
<![CDATA[Martini Dwi Pusparini]]>;
<![CDATA[Ulfi Sheila Pinasti]]>
<![CDATA[ Journal of Islamic Economics Lariba Vol. 8 No. 2 (2022) ]]>
Publisher : <![CDATA[Department of Islamic Economics, Islamic University of Indonesia ]]>
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DOI: 10.20885/jielariba.vol8.iss2.art11
<![CDATA[There had been a notable increase in the number of capital market investors in 2020 and 2021 as compared to previous years. In 2020, the number of investors increased by 56.21% from that of the previous year in 2019, and in 2021 it increased to 92.99% as compared to the number in 2020. Such considerable increase was surprising despite the outbreak of Covid pandemic throughout those years, which had an impact on the downturn of community's economy, as seen from an increase in the amount of unemployment by 7.07%, and a poverty rate of 9.8%. Likewise, Indonesia experienced negative economic growth in the quarter II and III of 2020. This study aims to find the factors that influence investors in making investment decisions amidst pandemic conditions that took place in 2020 and 2021 with the variables of Financial Literacy, Influencer’s Influence, Social Media Influence, social environment, and religiosity. It was obvious that these 5 factors had an influence on investment decisions, with the Financial Literacy factor as the factor that had the greatest influence and significance with a regression coefficient of 0.721.]]>
