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Hasna Luthfi
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Review on Islamic Accounting
Published by Smart Insights
ISSN : -     EISSN : 29853265     DOI : -
Core Subject : Religion, Economy, Science,
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Review on Islamic Accounting adalah publikasi ilmiah yang diterbitkan oleh SMART Insight yang berada di bawah lembaga riset SMART Indonesia. Sharia Economic Applied Research and Training (SMART) adalah lembaga penelitian di Indonesia yang fokus pada riset seputar ekonomi dan keuangan Islam. Review on Islamic Accounting terbit dua (2) kali dalam 1 tahun.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 44 Documents
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Book Review: An Islamic Perspective on Governance Maliha, Hasna
Review on Islamic Accounting Vol. 5 No. 2 (2025): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v5i2.684

Abstract

Governance has become a central concept in contemporary discourse regarding economic development, political stability, and social welfare. This concept encompasses various dimensions, ranging from corporate governance and economic governance to public governance, which involves mechanisms where political and administrative authorities are used to manage a country's resources. This article presents a synthesis of the book An Islamic Perspective on Governance written by Zafar Iqbal and Mervyn K. Lewis. This book fills a gap in the literature by presenting a systematic analysis of governance issues from an Islamic economic perspective, a viewpoint often overlooked in Western discourse. The authors explore classical and contemporary Islamic sources to build a governance framework, which is then compared with Western perspectives. The focus of the study includes theories of justice, taxation, budget deficits, accountability, and corruption. This article aims to provide a comprehensive understanding of how Islamic principles can be applied in modern governance, while simultaneously offering a critique of conventional approaches.
The Effect of Internal and External Factors on the Proportion of MSME Sector Financing in Sharia Business Units in Indonesia Rahmawati, Siti; Fitri, Resfa; Alim, Ahmad Syahirul; Irfany, Mohammad Iqbal
Review on Islamic Accounting Vol. 5 No. 2 (2025): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v5i2.689

Abstract

This paper aims to analyze the response of the proportion of MSME financing in Sharia Business Units in Indonesia to internal and external factor shocks. Additionally, it seeks to determine the contribution of each factor to the diversity of MSME financing proportions. This study employs the Vector Error Correction Model (VECM). The Covid-19 pandemic is included as an exogenous dummy variable. The analysis uses monthly data from January 2019 to December 2024, sourced from the Sharia Banking Statistics published by the Financial Services Authority (OJK). The study found that Third Party Funds, Operational Expenses to Operational Income, and the BI rate have a positive impact on MSME financing proportions in UUS. Conversely, Non Performing Financing (NPF), Return on Assets (ROA), Gross Domestic Product (GDP), Bank Indonesia Sharia Certificate (SBIS) exhibit a negative impact. The MSME financing proportion itself is the most dominant factor in financing variability, followed by NPF, BOPO, GDP, BI rate, SBIS, ROA, and DPK. This finding represents the supply side, referring to banks as financing providers. To obtain a more comprehensive perspective, further analysis is needed from the demand side by considering the characteristics of MSMEs as financing recipients. This area of research remains relatively underexplored, which is mandated to allocate at least 30% of its financing to the MSME sector, although actual disbursement remains around 10%.
Analysis of the Effect of Operational Efficiency, Good Corporate Governance, and Inflation on Financial Distress (Case Study on ISSI 2019-2023) Hasan, Nadya Atiqoh; Berakon, Izra
Review on Islamic Accounting Vol. 5 No. 2 (2025): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v5i2.711

Abstract

This study aims to analyze the influence of operational efficiency, good corporate governance (GCG), and inflation on financial distress in consumer cyclical sector companies listed on the Indonesian Sharia Stock Index (ISSI) from 2019 to 2023. Financial distress is measured using the modified Altman Z-Score model, while GCG variables are proxied by institutional ownership, managerial ownership, board of directors, board of commissioners, and audit committee. Operational efficiency is measured by Total Asset Turnover (TATO), and inflation is calculated based on data from the Central Statistics Agency. This research employs panel data with a multiple linear regression approach and purposive sampling to select 18 companies as samples. The results indicate that managerial ownership and operational efficiency have a significant positive effect on financial distress, while the board of directors has a significant negative effect. Meanwhile, institutional ownership, board of commissioners, audit committee, and inflation do not significantly influence financial distress. Control variables such as firm size and leverage also show significant effects.
Determinant of Islamic Bank Stability and Risk-Taking Behavior in ASEAN Riani, Ririn; Indra
Review on Islamic Accounting Vol. 5 No. 2 (2025): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v5i2.718

Abstract

This study examines the determinants of stability and risk-taking in ASEAN Islamic banks by focusing on both internal bank-specific factors and external conditions. Using a panel of 33 Islamic banks from five ASEAN countries over the period 2015–2022, this study employs a two-step system Generalized Method of Moments (GMM) estimator to address endogeneity and dynamic effects. Bank stability is measured using the Z-score, while risk-taking behavior is proxied by loan loss provisions. Internal factors include profitability, credit risk, efficiency, capitalization, liquidity, and bank size, while external factors comprise market concentration and macroeconomic indicators. The empirical results reveal three key findings. First, bank stability is primarily driven by bank-specific characteristics, with credit risk, efficiency, capitalization, bank size, and market concentration exerting significant effects, while macroeconomic variables remain insignificant. Second, risk-taking behavior exhibits strong persistence and is significantly influenced by both internal factors and macroeconomic conditions, particularly economic growth and inflation. Third, higher market concentration is associated with lower bank stability and greater risk-taking, supporting the competition–fragility hypothesis in the context of ASEAN Islamic banking. These findings provide important policy implications for regulators, Islamic banks, and deposit insurance authorities in the ASEAN region, emphasizing the need for strengthened microprudential supervision, risk-based regulatory frameworks, and enhanced internal governance to ensure sustainable financial stability within dual banking systems.

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