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Mohamad Toha
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Jalan Raya Tirtowening Jl. Raya Tirtowening Pacet No.17, Bendorejo, Bendunganjati, Kec. Pacet, Kabupaten Mojokerto, Jawa Timur 61374
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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 2,324 Documents
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The Effect of Work Environment and Work-Life Balance on Employee Retention Mediated by Job Satisfaction Fatimah Aprilia Wijaya; Lie Liana
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.v8i3.8461

Abstract

This study aims to analyze the influence of the work environment and work-life balance The effect of job satisfaction on employee retention. The population in this study was 135 employees within the Assistant for Economic and Development Affairs of the Central Java Provincial Secretariat. The data were processed usingsoftwareSPSS version 25. Data analysis techniques include respondent description, variable description, validity test, reliability test, F test, R2 test, and t-test. The results of the study stated that the work environment has a positive and significant effect on job satisfaction, work-life balance has a positive and significant effect on job satisfaction, the work environment has a positive and significant effect on employee retention, work-life balance does not influence employee retention, job satisfaction has a positive and significant influence on employee retention, job satisfaction does not mediate the influence of the work environment on employee retention, and job satisfaction does not mediate the influence work-life balanceon employee retention.
Impact of Principal Leadership, Organizational Culture, and Teacher Welfare on Teacher Performance: A Case Study in Public Junior High Schools Fony Apriliana Duka; Suyud Suyud
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.v8i3.8471

Abstract

This research investigates how principal leadership, organizational culture, and teacher welfare impact teacher performance in public junior high schools located in South Sorong. Utilizing a quantitative methodology, data were gathered through surveys administered to teachers from multiple schools within the area. The study adopts an ex-post facto design. The target population comprised all 248 teachers employed at public junior high schools in South Sorong Regency. A total of 155 teachers were selected as the sample using a cluster random sampling method. The data were analyzed using a range of statistical techniques, including validity and reliability testing, normality checks, correlation analysis, regression analysis, and hypothesis testing. The findings reveal the following: (1) principal leadership has a positive and significant effect on teacher performance, contributing 11.6%; (2) organizational culture positively and significantly affects teacher performance by 15.6%; (3) teacher welfare has a positive and significant influence, accounting for 29.6%; and (4) the combined effect of principal leadership, organizational culture, and teacher welfare on teacher performance reaches 32.3%.
The Effect of Digitalization on Firm Performance with the Mediation of Supply Chain Performance and Supply Chain Resilience for the Oil Industry Muhammad Faris Ghiats
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study analyzes the influence of digitalization on company performance by considering the mediating role of Supply Chain Performance (SCM) and Supply Chain Resilience (SCR) in the Indonesian fuel industry. Digitalization through the implementation of the Internet of Things (IoT), big data analytics, artificial intelligence (AI), and cloud computing is an important strategy for creating an efficient, responsive, and adaptive supply chain to disruption. The research method uses a quantitative approach with Partial Least Squares Structural Equation Modeling (PLS-SEM). Primary data were collected through questionnaires from respondents in fuel companies. The results show that digitalization has a significant positive effect on SCM and SCR, which in turn has a positive impact on firm performance. The influence of digitalization is also proven to indirectly improve performance through the mediation of SCM and SCR. These findings underscore the importance of digital transformation integrated with data-driven supply chain management strategies and operational resilience. This study provides a theoretical contribution by developing a comprehensive and practical conceptual model as a reference for fuel companies in designing effective and sustainable digitalization policies.
Islamic Business Ethics-Based Digital Marketing to Increase Sales: A Study of MSMEs in Indonesia in 2022–2024 Nur Komariyah; Mashudi Mashudi
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This research study aims to implement digital marketing for MSMEs in Indonesia that aligns with the principles of Islamic business ethics while providing strategic recommendations to ensure digital marketing adheres to Sharia principles in Islamic business ethics. The novelty of this research lies in the integration of digital marketing with the principles of Islamic business ethics in the context of Indonesian MSMEs in the 2022-2024 period, a topic that has not been comprehensively studied nationally and in that period. The study employed a qualitative phenomenological approach involving 15 purposively selected informants. Data were collected through semi-structured interviews, digital documentation, and secondary sources from the Indonesian Chamber of Commerce and Industry (KADIN). Data analysis was conducted using the Colaizzi thematic technique to comprehensively explore the meaning of informants' experiences. The results show that the implementation of Sharia-compliant digital marketing is reflected in honest information, price transparency, and polite communication, which in turn builds consumer trust and positively impacts sales growth. This research confirms that Islamic ethics not only serves as a moral guideline but also has strategic value in strengthening the reputation and sustainability of MSME businesses in the digital era.
Analysis of Indonesian Capital Market Reaction to the Inauguration of the Indonesian Cabinet in 2024 Regita Putri Wardani; Christimulia Purnama Trimurti; Gusti Ngurah Joko Adinegara; I Wayan Ruspendi Junaedi
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.v8i3.8509

Abstract

The inauguration of the Indonesian Cabinet is considered one of the major political events that has the potential to influence the capital market. This study aims to analyze the reaction of the Indonesian capital market to the 2024 Cabinet Inauguration event. Specifically, the research seeks to examine market conditions during the Cabinet Inauguration in 2024 and to determine whether there were any abnormal returns during this period. The study uses secondary data obtained from the Indonesia Stock Exchange (IDX), with a sample consisting of stock prices from 44 companies that remained in the LQ45 index during the period from May 22, 2025, to October 23, 2025. The research method involves abnormal return analysis and statistical testing (hypothesis testing) of abnormal returns. The results show that during the Cabinet Inauguration period, there were 110 positive abnormal returns and 154 negative abnormal returns among LQ45 stocks. This indicates that, in general, the LQ45 stocks yielded returns lower than the expected returns during the observation period. Hypothesis testing reveals that there were no statistically significant abnormal returns during the Cabinet Inauguration event in 2024. Therefore, the event did not contain information perceived as valuable for investment decision-making by investors and thus did not significantly affect abnormal returns in the Indonesian capital market.
Building Sustainable Pesantren Financial Accountability: Family Culture Transformation in Governance System Ammar Tsaqif; Masiyah Kholmi; Driana Leniwati
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

Good Corporate Governance (GCG) is an essential principle in ensuring accountability in Islamic educational institutions, including pesantren. This study investigates the role of family culture in enhancing financial accountability within pesantren's governance systems. The research problem arises from the lack of formal financial management systems in many pesantren, leading to reduced public trust and sustainability. The research aims to explore how family-based leadership can support the development of transparent and accountable financial management practices in pesantren. A qualitative case study approach was employed at Pondok Pesantren Nurul Ulum in Malang, East Java, involving interviews with key management members. Findings indicate that while the pesantren lacks formal regulations regarding public funding sources and sanctions, its family-based leadership fosters accountability through strong internal control and moral responsibility. The study concludes that incorporating family values into financial governance can enhance transparency and sustainability in pesantren management.
Analysis of Company Value With Liquidity as a Moderating Variable in Food and Beverage Sub-Sector Companies on the Indonesia Stock Exchange Katherine Situmorang; Yuniningsih Yuniningsih
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.v8i3.8533

Abstract

This study aims to analyze the influence of investment decisions, dividend policy, and leverage on firm value, with liquidity as a moderating variable in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2020-2023 period. This study uses a quantitative method with Moderated Regression Analysis. The study population comprised food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2020-2023 period, with a sample of 13 companies using a purposive sampling technique. The results indicate that investment decisions do not contribute to firm value, dividend policy does not contribute to firm value, and leverage contributes to firm value. Liquidity does not moderate the relationship between investment decisions and firm value, but liquidity can moderate the relationship between dividend policy and firm value, and liquidity also moderates the relationship between leverage and firm value. This study recommends companies to manage internal funds efficiently, avoid excessive debt use, and consider the feasibility of investments that can increase firm value.
Regional Macroeconomic Determinants of UMR Rozzenda Risqi Shafa Hana; Sitti Retno Faridatussalam
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study examines the role of regional macroeconomic conditions in shaping the Regional Minimum Wage (UMR) across five districts/cities in Central Java Province during the 2018–2023 period. Unlike prior studies that primarily focus on national indicators or limited economic variables, this research integrates fiscal capacity, social conditions, and human capital indicators within a regional panel data framework. The independent variables include Gross Regional Domestic Product (GRDP), poverty rate, number of Micro, Small, and Medium Enterprises (MSMEs), Regional Budget (APBD), number of investment projects, and educational participation. Panel data regression with the Random Effect Model (REM), selected through Chow and Hausman tests, is employed for analysis. The results show that all variables simultaneously have a significant effect on UMR determination. However, partially, only the poverty rate, APBD, and educational participation significantly influence UMR. A higher poverty rate is associated with increased UMR, indicating that wage policy responds not only to economic capacity but also to social pressure and welfare considerations. The positive effect of APBD highlights the importance of regional fiscal strength in supporting higher wage standards, while educational participation reflects the contribution of human capital quality to wage-setting mechanisms. In contrast, GRDP, MSMEs, and investment projects do not exhibit significant effects, suggesting that economic growth and investment do not automatically translate into higher wages at the regional level. This study contributes to the literature by demonstrating that UMR determination is more strongly driven by social and fiscal factors than by conventional growth indicators, emphasizing the need for region-specific, inclusive wage policies grounded in local macroeconomic realities.
The Influence of Virtual Streamers on Consumer Purchase Intention in Shopee Live Streaming in the Fashion Segment Safina Dhany Alveria; Hanifa Nur Fadhilla
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study examines the influence of virtual streamer characteristics on consumer purchase intention in Shopee Live’s fashion segment in Indonesia, addressing the limited empirical evidence on virtual influencers in live commerce contexts. While prior studies predominantly focus on human streamers or general social media influencers, this research offers novel insights by investigating virtual streamers as emerging digital marketing agents in live shopping environments. Using a quantitative approach, data were collected from 150 consumers in the Special Region of Yogyakarta through purposive sampling and analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results reveal that likeability does not directly affect purchase intention, indicating that consumers prioritize functional factors such as product attributes, pricing, and promotional incentives over streamer persona. However, likeability and responsiveness significantly enhance social presence, which in turn positively influences purchase intention. Responsiveness also shows a direct positive effect on purchase intention, underscoring the importance of real-time interaction in live commerce. These findings contribute to the literature by clarifying the indirect role of virtual streamer attributes through social presence and offer practical implications for fashion brands to optimize interactive strategies and engagement-driven content when deploying virtual streamers in live shopping platforms.
The Effect of Business Strategy on Company Performance with a Management Control System as a Moderation Variable Retno Febriani Pratomowati; Elok Savitri Pusparini
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study examines the suitability of business strategies based on the Miles & Snow typology and the type of Management Control System (MCS) on company performance, with Return on Assets (ROA) as the main indicator, using a sample of 82 non-financial companies listed on the Indonesia Stock Exchange (IDX) during the period 2014 to 2023. This study uses a quantitative approach with longitudinal data, applying cluster analysis, ANOVA, and Games-Howell post hoc test to analyze the suitability between business strategies (defenders, prospectors, analyzers) and MCS types (clan, adhocracy, market, hierarchy). The findings of the study show that the alignment between the business strategy and the type of MCS has a significant effect on the financial performance of the company. The defender strategy gains higher ROA when supported by market-oriented MCS, while the prospector strategy performs best with a clan or adhocracy-type MCS that emphasizes flexibility and innovation. The analyzer strategy has proven to consistently produce stable performance on all types of MCS, confirming its adaptive character. This study highlights the importance of regular evaluation of the suitability of the MCS-strategy and the role of Top Management Team (TMT) characteristics in supporting effective implementation. The results of this study provide theoretical reinforcement for contingency theory and strategic fit, as well as practical guidance for managers to design a Management Control System (MCS) that improves the company's competitiveness and resilience in a dynamic business environment.

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