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INDONESIA
IIJSE
Published by Universitas KH. Abdul Chalim
ISSN : -     EISSN : 2621606X     DOI : https://doi.org/10.31538/iijse
Core Subject : Economy,
Economics, Econometrics & Finance
The Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) is Sharia Economics Journal published by Sharia Economics Department Institut Pesantren KH. Abdul Chalim, Mojokerto. The Journal focuses on the issues of Sharia Economics, the History of Islamic Economic Thought, Islamic Law, Local Wisdom in Sharia Economic Perspective, and others related to Sharia economics. The journal is published periodically triannually in March, July, and November. Guidance for submission: ֎ The manuscript submitted to IIJSE must never be published elsewhere. ֎ The IIJSE is published in English. ֎ The articles must be submitted via OJS in Microsoft Word format. ֎ The articles should follow APA reference, with the body note, max 4000 words, and APA citation style.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 2,568 Documents
 120   121   122   123   124 
The Effect of Implementing Enterprise Resource Planning Systems on Profitability Ratios, Activity Ratios, and Solvency Ratios of Companies Hendra Martuah Fransiscus; Weli Weli
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8160

Abstract

Enterprise Resource Planning (ERP) is an integrated information system designed to support the management of enterprise resources such as funds, people, and materials. Although ERP is expected to improve operational performance and efficiency, its implementation often faces significant challenges related to process integration complexity, time, and cost. This study aims to examine the effect of ERP implementation on firm performance with a focus on profitability, activity, and solvency ratios after three and five years of implementation. The quantitative method was used with a sample of 29 Indonesian companies listed on the Indonesia Stock Exchange and have implemented ERP. Data was analyzed using logarithmic regression through SPSS 23.0 to compare financial performance before and after ERP implementation. The results showed that in general ERP implementation did not have a significant effect on profitability, activity, and solvency ratios in the short (3 years) and medium (5 years) terms. However, there is a significant effect on the activity ratio after five years, namely a decrease in asset turnover and an increase in labor productivity. This finding indicates that the benefits of ERP are more visible in internal efficiency and productivity improvements rather than direct changes in financial performance. In conclusion, ERP provides long-term benefits especially in operational and decision-making aspects, although the financial impact is not always immediately apparent. This study suggests the need for long-term evaluation and adjustment of business processes to maximize ERP benefits.
Village Officials’ Perceptions of the Potential for Fraud in Village Fund Management with Moral Reasoning as a Moderating Variable Nanak Andrean Prayoga; Saring Suhendro; Liza Alvia
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v9i1.8165

Abstract

This study aims to analyze the influence of collusion, ego, and fraud hexagon elements on the potential for fraud in village fund management, as well as the role of moral reasoning as a moderating variable. The results indicate that collusion and ego have a positive and significant effect on the potential for fraud, meaning that higher levels of collusion and ego among village officials increase the likelihood of fraud. Conversely, factors such as pressure, capability, opportunity, and rationalization do not have a significant impact on fraud potential. Further findings reveal that moral reasoning significantly weakens the influence of pressure, collusion, opportunity, rationalization, and ego on fraud potential. However, the capability element remains significant and cannot be moderated by moral reasoning. These results underscore the importance of strengthening moral reasoning through ethics and integrity training for village officials to reduce the potential for fraud in village fund management.
The Effect of Profitability and Solvency on Stock Prices (Study on Property and Real Estate Companies Listed on the Indonesia Stock Exchange in 2019-2023) Cahyaningsih Cahyaningsih; Fadhil Ade Permana; Brady Rikumahu
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8181

Abstract

Stock price is a key indicator that reflects a company's performance and serves as an essential factor for investors in making investment decisions. This study aims to examine the partial and simultaneous influence of profitability ratios and solvency ratios on stock prices of property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. Profitability ratio related to investment are measured using Return on Equity (ROE), while solvency ratio is measured using Debt to Equity Ratio (DER). The population in this study consists of all property and real estate sector companies listed on the IDX during the 2019-2023 period. The sample includes 31 companies over a five-year period, selected using the purposive sampling method. The analysis method applied is panel data regression. The results of this study are expected to provide valuable insights for investors, companies, and academics in understanding the factors affecting stock prices in the property and real estate sector.
An Analysis of the Influence of Product Quality, Price, and Promotion on Customer Satisfaction of Sambal Nagih Products in Pontianak Aisyah Yulandari; Muhammad Ebuziyya Alif Ramadhan
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8206

Abstract

This study aims to analyze the influence of product quality, price, and promotion on customer satisfaction with Sambal Nagih products in Pontianak City. This research uses an associative quantitative approach with a total of 100 respondents selected using a purposive sampling technique. Data were collected through interviews and questionnaires. The results of multiple linear regression analysis show the equation Y = 1.061 + 0.243X₁ + 0.225X₂ + 0.203X₃, with a correlation coefficient (R) of 0.697, which indicates a strong relationship. The coefficient of determination (R²) value of 48.6% indicates that the variation in customer satisfaction can be explained by product quality, price, and promotion, while the remaining percentage is influenced by other variables outside the model. The F-test results show that product quality, price, and promotion simultaneously have a positive and significant effect on customer satisfaction. The partial t-test results also show that the three independent variables individually have a positive and significant effect. In conclusion, product quality, price, and promotion have been proven to contribute to increasing Sambal Nagih customer satisfaction. This study recommends the need for product innovation improvement, competitive pricing, and more attractive promotions to maintain Sambal Nagih’s competitiveness. Future research is expected to add other variables, such as customer loyalty, to obtain more comprehensive results.
The Influence of Profitability, Liquidity, Interest Rates, and Inflation on Bond Ratings Listed on the Indonesia Stock Exchange Talitha Nabila Sari; Lina Budiarti
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8207

Abstract

This study aims to analyze the influence of profitability, liquidity, interest rates, and inflation on bond ratings of industrial sector companies listed on the Indonesia Stock Exchange for the 2021–2023 period. The method used is a quantitative approach with logistic regression analysis, where the data were obtained through documentation of financial reports and bond rating data from the official websites of the IDX and PEFINDO. The test results show that simultaneously, the independent variables have a significant effect on bond ratings. Partially, the variables of interest rates and inflation are proven to have a significant effect on bond ratings, while profitability and liquidity do not have a significant effect on bond ratings. These findings confirm that macroeconomic conditions such as interest rates and inflation play a more dominant role in influencing bond ratings compared to the internal performance of companies. This research is expected to serve as a reference for investors and companies in making investment decisions in the bond market.
Determinants of Stock Prices Infrastructure on the Indonesia Stock Exchange Rizki Malik Fajar; Ardono Sepdantyo Yudo; Farah Margaretha Leon
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8227

Abstract

This study examines the relationship between a company's financial condition and the value of its shares in the market. The focus is on infrastructure sector companies in Indonesia listed on the stock exchange for the last three years (2021-2024). Similar studies use certain common financial variables, but this study tries a new approach by adding two additional variables, namely ROA (which reflects the efficiency of the company in generating profits from its assets) and company size (which describes the scale or size of the company). The aim is to see whether these two variables have a significant influence on the value of shares in the market. Using a quantitative approach and purposive sampling, the research gathered 172 observations from 43 companies. Panel data regression (cross-section and time-series) was applied through statistical software. This study found that several financial indicators such as EPS, NAVPS, and PER support that a significant and positive influence on stock prices. However, ROA in infrastructure companies in this study period, was not statistically proven to significantly affect stock prices. These findings highlight that not all financial indicators equally reflect market perceptions, particularly in capital-intensive and regulation-sensitive sectors like infrastructure. The study advises financial managers to enhance key indicators such as EPS, NAVPS, and PER to attract investors and boost firm value. For investors, the research offers guidance on which financial indicators to prioritize when evaluating stock prospects, while also cautioning that some metrics, like ROA, may not reliably predict price movements.
Optimization of Non-Tax State Revenue in the Water Lease Section in the Marine Sector of Institution X Office Jaya Frediyanto; Hero Priono; Gideon Setyo Budiwitjaksono
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8242

Abstract

Indonesia, as an archipelagic country, relies heavily on maritime transportation and shipping services. One crucial element in supporting the efficiency of the shipping sector is the optimization of non-tax state revenue (PNBP), particularly from water leases. This study aims to analyze water lease agreements and PNBP optimization strategies at Institution X Office. The study employed a qualitative approach, conducting in-depth interviews with five informants representing both regulators and service users. The results indicate that a significant decline in PNBP in 2025 will occur due to instability in rental rates and reduced interest in leasing from large business actors such as PT A and PT B. Additionally, several internal constraints were identified, including limited human resources, outdated information systems, and inflexible tariff policies. This study adopted Pricing and Revenue Optimization Theory to formulate ten optimization strategies, including strengthening price evaluation mechanisms, utilizing lost quote data, and the need for a zoning-based and market-sensitive tariff approach. It was concluded that the success of PNBP optimization depends not only on tariff policies but also on regulatory consistency, fiscal transparency, and sustainable use of marine space. This research provides a practical contribution to Institution X and the Ministry of Transportation in designing a PNBP management system that is efficient, fair, and adaptive to market dynamics.
The Dynamics of Tobacco Commodity Governance on Farmer Welfare and Economic Resilience in the Temanggung Region Veni Aprisal; Putri Wulan Nahri; Ristya Rahma Azzahra
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8244

Abstract

Tobacco commodity management remains a serious issue, particularly in production centers such as Temanggung Regency. This study aims to examine in depth the dynamics of tobacco commodity management in Temanggung Regency and its implications for farmer welfare and regional economic resilience. This study employs a qualitative descriptive approach using literature review methods. The findings reveal that the tobacco trade is dominated by middlemen and factories, leaving farmers in the weakest position. The practice of high-interest debt, known as the nglimolasi system, structurally binds farmers and strips them of control over prices. Conversely, the increase in tobacco excise taxes in 2024, which generated national revenue of Rp216.9 trillion, did not provide protection for farmers. Meanwhile, the allocation of Rp16 billion from the DBHCHT in Temanggung was primarily absorbed by physical programs rather than capacity-building initiatives for farmers. The tobacco industry plays a crucial role in Temanggung's economy, contributing 22.47% to the regional GDP. The vulnerability of this industry directly impacts the region's economic resilience, with social and economic pressures intensifying as farmers' well-being declines.
An Empirical Study on the Determinants of Bank Financial Stability: The Moderating Role of Bank Size in the Relationship Between Financial Performance Fitrianingsih Fitrianingsih
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8248

Abstract

This study aims to measure the determinants of bank financial stability in Indonesia, with a focus on the effect of financial performance measured using the Z-Score ratio as a proxy for financial stability, Return on Assets (ROA) as a proxy for profitability, Capital Adequacy Ratio (CAR) for liquidity, and Loan to Deposit Ratio (LDR) as a proxy for solvency, along with the natural logarithm of total assets to measure the moderating variable of Bank Size. The sample was selected using purposive sampling from the population of banking companies listed on the Indonesia Stock Exchange (IDX) that fall under the KBMI 4, 3, and 2 bank categories in 2025, with time series data from 2020 to 2024. The analysis was conducted using the Moderated Regression Analysis (MRA) method. The results of this study show that CAR has a significant effect on bank financial stability from 2020 to 2024, and that Bank Size significantly moderates the effect of LDR. The findings are expected to provide valuable insights for regulators, bank management, and investors in maintaining and enhancing the stability of the financial system in Indonesia. The results of this study show that between Return on Asset (ROA), Loan to deposit Ratio (LDR) and Capital Adequacy Ratio (CAR), CAR has a significant effect on bank financial stability during the period 2020–2024, and that the Bank Size variable is able to significantly moderate the effect of the LDR variable. The implication of this research is that bank management must have regulations are designed to be able to minimize risks and avoid defaults so that the profitability of banks increases in Indonesia
Optimization of Heritage Tourism Village Marketing Through the Pentahelix Model (Case Study of Terban Village) Denada Grehastuti; Supriyono Supriyono; Sutono Sutono
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 8 No 3 (2025): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v8i3.8261

Abstract

This research aims to analyze the marketing strategy of Terban Tourism Village in Kudus Regency using the Pentahelix model approach. The research employs a descriptive qualitative method with data collection techniques including documentation, in-depth interviews, surveys, and observations. Data analysis uses the Miles et al. model, comprising data condensation, data presentation, and conclusion drawing. The results show that Terban Tourism Village has potential as a heritage tourism destination with advantages in the Patiayam Archaeological Site, Grenjengan Waterfall, and Japanese Cave, but collaboration among Pentahelix stakeholders is not yet optimal. Analysis of the tourism marketing mix identifies strengths in unique tourist attractions and multi-channel marketing strategies, while weaknesses are found in amenities, heritage value interpretation, and minimal academic involvement. SWOT analysis places Terban Tourism Village in Quadrant I (X=0.89; Y=1.02), indicating a strategic position for implementing aggressive growth strategies. Key recommendations include developing integrated heritage tourism products, optimizing digital marketing, strengthening interpretation through collaboration with academics, revitalizing the Tourism Awareness Group (Pokdarwis), and establishing a Pentahelix coordination forum. Strategy implementation requires a clear role distribution among the five Pentahelix actors to realize Terban Tourism Village as a leading sustainable heritage tourism destination.

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