cover
Contact Name
Elif Pardiansyah
Contact Email
elfardianzyah@untirta.ac.id
Phone
+6281391257400
Journal Mail Official
fauzanadim@iainkudus.ac.id
Editorial Address
Gedung Pascasarjana, Institut Agama Islam Negeri (IAIN) Kudus Jalan Conge Ngembalrejo Kotak Pos 51 Kudus 59322
Location
Kab. kudus,
Jawa tengah
INDONESIA
Equilibrium: Jurnal Ekonomi Syariah
Core Subject : Religion, Economy,
This journal encompasses original research articles, review articles, and short communications, including: Islamic Accounting, Islamic Bussines Management, Islamic Human Resource Management, Islamic Economics, Islamic Banking and Finance.
Articles 168 Documents
Emerging Themes and Research Directions in Halal Fashion: A Bibliometric Study Aisya, Sitti; Syamsu, Nur
Equilibrium: Jurnal Ekonomi Syariah Vol 12, No 1 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i1.23205

Abstract

This study aims to explore the trends and developments in Halal fashion studies published in Scopus-indexed journals. This study uses a quantitative method of bibliometric analysis to analyze the characteristics of articles, keywords, abstracts, authors, and related journals. This study analyzed a total of 17 articles written by 50 authors and published in 17 different journals. The results showed that research on the phrase Halal fashion experienced a significant increase from 2009 to 2023. In the source analysis category, the Journal of Islamic Marketing ranks top in Halal fashion publications in terms of impact measurement and total citations. Based on the author analysis category, it was found that Management and Science University and the University of Indonesia were the affiliations of authors who ranked first. The author's country affiliation places Indonesia in the first place, followed by China and Malaysia. In the document analysis category, Echchaibi's work published in 2009 ranked first in terms of citations. In the category of word analysis, the keywords that are widely used by the authors are Halal fashion, hijab, Islam, and Islamic marketing. The research makes a significant contribution to mapping trends in research related to Halal fashion.
The Effect of Bank Health on Profitability and Firm Value of Islamic Banks in Indonesia Andriani, Andriani; Abarahan, Anmisuhailah binti
Equilibrium: Jurnal Ekonomi Syariah Vol 11, No 2 (2023): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v11i2.23356

Abstract

This study aims to determine the effect between bank health on profitability and firm value of Islamic Commercial Banks in Indonesia. This research employs a quantitative approach. Researchers conducted tests through the SPSS application and path analysis. The research included a total of 12 Islamic Commercial Banks for the financial year 2020-2022. The findings of this research demonstrate that RGEC (Risk Profile, Good Corporate Governance, Earnings, and Capital) have a simultaneous impact on bank health, specifically on profitaility through Return on Assets (ROA). Partially, only payments affect ROA. Meanwhile, other indicators of RGEC do not affect ROA. Partially, risk profile and earnings indicators affect Return on Equity (ROE). In contrast, two other indicators, namely good corporate profile and capital, do not affect ROE. Simultaneously, the influence of bank health on firm value is mediated by RGEC. Partially, the four RGEC indicators have no impact on firm value. In other tests, through the mediation flow, neither ROA nor ROE can mediate the effect of RGEC on firm value. Meanwhile, profitability through ROA and ROE affects firm value. The implications of this research significantly contribute to understanding the financial stability of bank health, its effect on profitability, its effect on firm value, and its contributions to the field of academic research.
The Effect of Sharia Monetary Instruments on the Profitability of Sharia Commercial Banks in Indonesia in 2019-2023 Ramadhan, Mohammad Ali; Masrifah, Atika Rukminastiti
Equilibrium: Jurnal Ekonomi Syariah Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.26361

Abstract

The purpose of this study is to evaluate the impact of Sharia Interbank Money Market (PUAS), Sharia Bank Indonesia Facility (FASBIS), and Sukuk Bank Indonesia (SukBI) on Return On Assets (ROA) of Indonesian Islamic Commercial Banks. This research uses a quantitative deductive approach using EViews 10 test tools and VAR / VECM techniques. This study uses secondary data with time series data from January 2019 to November 2023. The dependent variable in this analysis is ROA, while the independent variables are SukBI, FASBIS, and PUAS. Based on the research findings, over time, the SukBI variable significantly reduces the return on assets (ROA) of Indonesian ShariaCommercial Banks; on the contrary, the FASBIS variable has no significant effect on ROA, and the PUAS variable has no significant effect on ROA. The SukBI and FASBIS factors did not have a significant short-term impact on the ROA of Indonesian Islamic Commercial Banks. Meanwhile, the ROA of Indonesian Islamic Commercial Banks is significantly negatively affected by PUAS.
Prospects for the Development of Halal Culinary MSMEs in Encouraging Sustainable Business HS, Sufyati; Resti, Anggi Angga; Matondang, Nurhafifah; Ridwansyah, Muhamad; Priyatna, Muhammad Randhika
Equilibrium: Jurnal Ekonomi Syariah Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.28078

Abstract

Sustainable business refers to business practices that pay attention to social and environmental impacts in addition to financial returns. This research was conducted in Depok, West Java, as a satellite city of Jakarta, with a focus on halal culinary development. The factors studied include Halal Certification, Halal Practice Compliance, Green Marketing, and Performance of Halal Culinary MSMEs. Halal Culinary MSMEs ensure that all processes and ingredients comply with Islamic sharia principles, important for consumer confidence and improving the performance of the halal industry. The research objective is to measure the performance of Culinary MSMEs through halal certification, halal practice compliance, and green marketing. The research method uses a quantitative descriptive approach with a questionnaire to MSME players in Depok and data analysis using SmartPLS. The results showed that halal certification and green marketing have a positive and significant effect on the performance of culinary MSMEs in Depok, while compliance with halal practices has a positive but insignificant effect. Recommendations include improving halal certification access and processes, education on halal practice compliance, and effective green marketing strategies to support sustainable halal culinary development.
Street Vendors and Halal-Thayyib Business Practices: An Ethnographic Study in the Context of Religious Moderation Amaroh, Siti; Husnurrosyidah, Husnurrosyidah
Equilibrium: Jurnal Ekonomi Syariah Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.30369

Abstract

This study explores the understanding of street vendors in Kudus Regency regarding the halal-thayyib paradigm and the challenges they face in its implementation. The research was conducted with 11 informants from various areas: City Walk, Alun-Alun Simpang 7, Pasar Kliwon, Museum Kretek, and Bale Jagong. The data analysis technique used ethnographic analysis to describe the societal situation based on the meanings and values embraced. Observations reveal that street vendors encounter various obstacles, including limited sanitation facilities, the use of supplementary materials with uncertain halal status, and a lack of in-depth understanding of the halal concept. Most street vendors prioritize economic profit over adherence to halal principles. Nevertheless, street vendors have demonstrated increased awareness of halal through socialization and education programs. While halal certification appears to be an appealing prospect, they perceive the costs as high and the procedures as complex. The aspect of religious moderation is reflected in the tolerance among individuals of different faiths, where non-Muslim are aware of halal requirements but still require further education. This study suggests empowering street vendors through religious moderation as a solution to enhance their understanding of halal, while also meeting market demands and improving their economic welfare.
How Can Sharia-Compliant Investments Minimize Risk Without Sacrificing Returns?
Equilibrium: Jurnal Ekonomi Syariah Vol 13, No 1 (2025): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v13i1.30187

Abstract

This research examines how sharia-compliant investments can minimize risk without sacrificing returns through portfolio optimization. Using the Single Index Model (SIM) and Capital Asset Pricing Model (CAPM), this study evaluates the performance of stocks in the IDX Sharia Growth index from November 2022 to October 2024. Data from 30 companies were analyzed, with stock returns based on daily closing prices, Bank Indonesia Certificates as a proxy for risk-free returns, and the Composite Stock Price Index for market returns. Stocks were ranked based on Excess Return to Beta (ERBi), and the optimal portfolio was determined using the cut-off rate. The results show that the SIM portfolio (12 stocks) offers higher returns with lower risk, while the CAPM portfolio (15 stocks) provides similar returns to individual stocks but with lower risk. The findings confirm that sharia-based portfolio optimization effectively reduces risk while maintaining returns, providing valuable insights for investors seeking sharia-compliant financial strategies.
Sharia Service Strategy Model Based on Islamic Business Ethics
Equilibrium: Jurnal Ekonomi Syariah Vol 13, No 2 (2025): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v13i2.34907

Abstract

This study addresses the lack of an integrated model connecting Sharia compliance, Islamic business ethics, service quality, and social benefits in Islamic private hospitals. Using the Analytic Network Process (ANP) and expert judgments from hospital managers and regulators in Pekanbaru, the research develops a Sharia service strategy model grounded in Islamic business ethics.The findings show that Service Quality has the highest priority (0.261), followed by Maslahah (Social Benefits) (0.252), Sharia Compliance (0.246), and Islamic Business Ethics (0.241), indicating that all dimensions are equally important and mutually reinforcing. This study offers an original integrative framework that combines ethical, regulatory, operational, and social aspects, providing theoretical contributions to Islamic healthcare governance and practical guidance for strengthening Sharia-based hospital services.
The Nexus of Sharia Financial Literacy, Inclusion, and Technology with SME Performance: A Study in East Java
Equilibrium: Jurnal Ekonomi Syariah Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.28577

Abstract

SMEs are a business sector with an important role in the economy with significant contributions to Gross Domestic Product (GDP) and job creation, including in East Java Province as one of the provinces with the 3rd largest number of SMEs in Indonesia. However, the increase of SMEs in Indonesia requires SMEs to survive in a very tight competition. In surviving the competition, the main challenges faced by SMEs to improve their innovation and performance include access to financial resources, ineffective understanding and management of financial management, and utilization of financial products and services. Therefore, the purpose of this study is to analyze the effect of Islamic financial literacy, financial inclusion and sharia financial technology on the performance of SMEs in East Java. This study uses a quantitative approach with a sample of 100 people. The analysis technique used is SEM-PLS. The results of study indicate that the performance of SMEs in East Java has a significant effect on Islamic financial literacy, financial inclusion, and sharia financial technology. In addition, there is also mediating effect of financial inclusion on Islamic financial literacy and sharia financial technology on the performances of SMEs in East Java. With this research, it is expected that there will be more education and training programs on Islamic financial literacy, create policies that can encourage financial inclusion and innovate sharia financial technology products adapted to the needs of SMEs through collaboration between the government, Islamic financial institutions, and the community.
Green Human Resource Management Syariah as a Transformation of the Concept of Sustainable Human Resource Management
Equilibrium: Jurnal Ekonomi Syariah Vol 13, No 1 (2025): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v13i1.31882

Abstract

The purpose of this research is to explain the concept of implementing Green Human Resources Management Sharia (GHRMS) as a company strategy in the form of efforts to increase productivity and the company's commitment to maintaining sustainability, then quantified to strengthen the research findings so that they are more comprehensive. This research produces the latest concept; the success of an organization in implementing green human resources management sharia which is reflected in the performance of Islamic-based employees able to encourage more concern for the environment and apply it in everyday life; training and development facilitated by the organization so that employees can understand better with the training accompanied by development carried out by the organization; compensation and benefits for employees by providing awards and compensation as a form of concern for greening the environment, and organizational culture is able to support green human resources management sharia activities so that a resilient organizational life is created because it is supported by intense spirituality. In the future, research can be developed to increase productivity and company commitment to maintaining environmental sustainability based on Islamic values.
Product Development in Islamic Financial Institutions (IFIS): An Extensive Literature Review
Equilibrium: Jurnal Ekonomi Syariah Vol 13, No 1 (2025): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v13i1.31938

Abstract

This paper aims to critically review existing studies related to IFIs products and their instruments, IFIs’ product development, and the agenda for IFIs’ product development in the future. This study is built upon an extensive literature review of the existing literature on IFIs, revisiting its objectives, its criticism, and looking at the Product Development Process of IFIs from previous studies. Considering IFIs product development, so far the process on IFIs lies on the need to be competitive thus imitating their conventional counterparts. However on the other side, there’s a need for developing the instruments without denying the fulfilment of Islamic law (maqasid al sharia) within the process. On the other hand, there are some arguments on to what extent Sharia principles or maqasid al sharia is being fulfilled as so far, the feasible indicators are still limited. As product development in IFIs is complex and demands innovations in many aspects, collaboration among global and Islamic Economy actors is needed. This paper implies that there’s a need for a comprehensive approach in formulating an ideal product development process for IFIs and giving urges to global Islamic Economy actors to collaborate.