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M Nur Rianto Al Arif
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nur.rianto@uinjkt.ac.id
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INDONESIA
ETIKONOMI
ISSN : 14128969     EISSN : 24610771     DOI : -
Core Subject : Economy,
Etikonomi is a peer-reviewed journal on Economics, Business and Management by Faculty of Economic and Business State Islamic University (UIN) Syarif Hidayatullah Jakarta. FOCUS This journal focused on economics, business, and management studies and present developments through the publication of articles, research reports, and book reviews. SCOPE Etikonomi specializes on Economics, Business, and Management, and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
Arjuna Subject : -
Articles 347 Documents
Does the Merger of the Indonesian Islamic Bank Matter for Its Social Mission of Economic Empowerment? Ainul Fatha Isman; Nur Hidayah
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.39810

Abstract

Research Originality: Economic empowerment through financing Micro Small Medium Enterprises (MSMEs) is one dimension of the social mission of sharia banking in Indonesia. The merger action of Bank of Sharia Indonesia (BSI) raises the question of whetherthe performance of economic empowerment has changed.Research Objectives: This research aims to analyse the differences in the BSI’s performance of economic empowerment during preand post-merger periods and analyse the issues and strategies for improving BSI's post-merger economic empowerment performance.Research Methods: It is a research using mixed method combining a quantitative explorative analysis approach using Wilcoxon Test, and a qualitative one using Analytic Network Process.Empirical Results: This research finds that BSI's economic empowerment performance has increased in terms of the quantity but decreased in terms of proportion in the post-merger period. ANP research demonstrates that risk management is a priority issue for the BSI post-merger period. The social mission of economic empowerment indicates several priority issues, namely, the relatively higher rate of profit margin than interest, the inadequate supervision model, the low rate of risk management literacy, and the relatively higher risk of profit loss sharing (PLS)-based financing. The strategy analysis indicates that policy intervention for BSI’s MSMEs financing is a top priority in improving the performance of its economic empowerment.Implications: This research recommends some recommendations for sharia banks’ MSMEs financing equivalent to the one of conventional banks. Economic digitalization as technological means to widen accessibility of economic empowerment and distribution segmentation focusing more on the halal sector.JEL Classification: A13, G21, G34How to Cite:Isman, A. F., & Hidayah, N. (2024). Does the Merger of the Indonesian Islamic Bank Matter for Its Social Mission of Economic Empowerment? Etikonomi, 23(2), 333 – 352. https://doi.org/10.15408/etk.v23i2.39810.
Exploring a Consumption Value Model for Islamic Halal Cosmetics Ana Toni Roby Candra Yudha; Rizka Rahmatillah Zidna; Novi Febriyanti
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.36080

Abstract

Research Originality: Halal cosmetics segmentation requires detailed analysis to enable stakeholders from the industry sector to optimize marketing and sales. The findings of this study are interesting, the market opportunity specifically for women is not only in consumption volume but also production, especially with market segmentation among millennials and Gen Z.Research Objectives: This research aims to determine the simultaneous and partial effects of halal labeling, product quality, religiosity, and online consumer reviews on purchasing decisions regarding halal cosmetic products among female and male consumersResearch Methods: This research employed an online survey method with 203 respondents. It also employed the SEM-PLS to evaluate models and validate hypotheses, and Multi-Group Analysis (MGA), which is employed to determine the gender effect's position on the hypotheses.Empirical Results: The results with the SEM-PLS method show that product quality, online consumer reviews, and religiosity satisfactorily influence purchasing decisions, this is not the case with the halal label. It seems that online consumer reviews are more suitable for male consumers. Appearance and persuasive factors are more important for male consumers who value rational factors compared to female consumers.Implications: The findings of this research are significant due to the comparison drawn between male and female consumers. Such a comparison aids practitioners and business professionals in effectively delineating market demands and preferences. When developing halal cosmetic products, manufacturers must consider not only the product's sales potential but also its efficacy and potential side effects upon usage.JEL Classification: M5, M10, M21How to Cite:Yudha, A.T.R.C., Zidna, R.R & Febriyanti, N. (2024). Exploring a Consumption Value Model for Halal Cosmetics. Etikonomi, 23(2), 465 – 480. https://doi.org/10.15408/etk.v23i2.36080.
Is the COVID-19 Matters for Islamic Banking Performance? A Cross-Countries Analysis Rindang Nuri Isnaini Nugrohowati; Faaza Fakhrunnas
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.31243

Abstract

Research Originality: Considering the originality of the study to have a deeper investigation on the impact of the pandemic on bank’s risk and return.Research Objectives: This study aims to identify the impact of Covid-19 on bank performance and risk levels.Research Methods: This study focuses on Islamic banks in 12 countries with the most developed financial sector during the 4th quarter of 2016 to the 1st quarter of 2022. The data analysis method in this study adopts panel data analysis with a fixed effect model.Empirical Results: The finding of the study shows that the Covid-19 pandemic resulted in a decline in the performance of Islamic banks, as seen from the ratio of return on average asset, return on equity, net profit margin, return on average asset, and return on average equity. However, an interesting finding from this research is that there is no concern about worsening bank risk levels as reflected in the nonperforming financing, Z-Score, and leverage ratio. Meanwhile, the control variables, bank size and inflation rate, also affect the performance and risk of Islamic banks.Implications: The study implies that banking practitioners and financial authority for the banking sector are required to issue some financial strategies in order to achieve and maintain a certain level of financial performance, especially during financial turmoil. JEL Classification: G20, G21, G28 How to Cite:Nugrohowati, R. N. I., & Fakhrunnas, F. (2024). The COVID-19 Matters for Islamic Banking Performance? A Cross-Countries Analysis. Etikonomi, 23(1), 201 – 218. https://doi.org/10.15408/etk.v23i1.31243.
Risk Transmission of Foreign Subsidiary in ASEAN Emerging Countries Etikah Karyani; Agusman Agusman
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.32703

Abstract

Research Originality: To the best of our knowledge, this study is the first to investigate the impact of home country parent bank risks on destination country subsidiaries in an ASEAN setting. Moreover, this study adds to the previous literature by using the post-global financial crisis period in ASEAN countries, various  types of risks, and dynamic panel data.Research Objectives: This study aims to examine the association between parent and foreign subsidiary banks. The study also examines how bank regulation, national governance, and financial deepening in host countries affect the association.Research Methods: This study uses dynamic panel data of 43 foreign banks operating in ASEAN emerging countries during the period 2010-2018.Empirical Results: The findings indicate a significantly positive association between parent and subsidiary bank risk, particularly for credit and liquidity risks. National governance and bank regulation mitigate the risk transmission. In contrast, financial deepening amplifies the transmission of risks between parent and subsidiary banks.Implications: This finding has important implications, in terms of policy interventions and regulatory mechanisms that national governments can deploy to lower risk exposure of subsidiary banks, while at the same time encouraging foreign investments into the financial services sectors in ASEAN countries.JEL Classification: F30, G21, G32How to Cite:Karyani, E., & Agusman. (2024). Risk Transmission of Foreign Subsidiary: Evidence from ASEAN Emerging Countries. Etikonomi, 23(1), 129 – 146. https://doi.org/10.15408/etk.v23i1.32703.
How Effective are Policy Interventions Against the COVID-19 Infection Rates? Chor Foon Tang; Bee Wah Tan
ETIKONOMI Vol 22, No 1 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i1.28486

Abstract

Studies on the COVID-19 pandemic are more likely to concentrate on the effects of the virus while ignoring its time-series characteristics, particularly its stationarity characteristics. Thus, this study attempts to investigate the effectiveness of policy interventions against COVID-19 by determining the permanent or transitory effects in 5 major regions and the ten most infected countries. Using the endogenous multiple breaks unit root tests introduced by Kapetanios (2005), the findings indicate that only the impacts of shocks to COVID-19 infection rates in France are likely to be permanent. However, the transitory effect is found in Brazil, Germany, Iran, Italy, Russia, Spain, Turkey, the United Kingdom, and the United States. The country where the shock has a permanent impact is suitable for policy interventions, including lockdowns, social isolation, and local isolation. While herd immunity, which protects the entire population against COVID-19, is better ideal for application in countries that experience shocks with a transitory effect.JEL Classification: C1, I15, I18How to Cite:Tang, C.F., & Tan, B.W. (2023). How Effective are Policy Interventions Against the COVID-19 Infection Rates? Etikonomi, 22(1), 1–14. https://doi.org/10.15408/etk.v22i1.28486.
How Internal Customer Relationship Management and Word of Mouth, Affect Customer Loyalty Linus Jonathan Vem; Joy Philip Mshelmbula; Abel Daniel Ochigbo; Ruth Agwom-Panle
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.26921

Abstract

Originality: The competition in the banking industry has necessitated a concerted effort to ensure a sustainable internal and external customer relationship. Studies that focus on the internal customer relationship and internal customers’ word of mouth on external customer loyalty is rareObjective: This study investigates how Employees' Positive Word of mouth (PWoM) mediates the relationship between internal customer relationship management (IntCRM) and external Customer Loyalty (CL) using social exchange and image theoryMethodology: A cross-sectional research design was used, and a sample of 384 customers was drawn from an unknown pool of customers to respond to the CL questionnaire, while 315 bank employees responded to the IntCRM and PWoM Questionnaires. A partial least approach to structural equation modelling technique, via SMART-PLS version 4. was deployed to analyze the hypothesized relationships.Results: Findings on the direct relationship between IntCRM and CL were not supported due to insufficient evidence. While indirect relationships were established through the mechanism role of PWoM, supporting our argument that social exchange between employer and employee stimulates a positive attitude that attracts external customersImplications: The findings suggest the importance of relating discretely with the internal customer, since their perceptions and behaviours can influence the external customers’ attitudes towards the organization. The study also integrates the boundary of Human Resource Management (HRM) practice with Marketing strategy in ensuring customer loyalty in the banking industry. JEL Classification: M5, M31How to Cite:Vem, L. J., Mshembula, J. P., Ochigbo, A. D., Agwom-Panle, R., (2024). How Internal Customer Relationship Management and Word of Mouth Affect Customer Loyalty. Etikonomi, 23(1), 81 – 92. https://doi.org/10.15408/etk.v23i1.26921.         
Entrepreneurial Marketing Impact Score on MSME Performances Through Its Dimension Mediany Kriseka Putri; Andriani Natasha Putri
ETIKONOMI Vol 22, No 1 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i1.25617

Abstract

The presence of the entrepreneurial marketing concept is considered capable of overcoming marketing problems in MSMEs. This study aims to determine the specific magnitude of the influence score given by each entrepreneurial marketing dimension to MSMEs in Bengkulu City. This study focuses on culinary MSMEs that are the mainstay sector of the region. The effective and relative contribution has been used to measure the influence score of its dimension on performance and 183 questionnaires are distributed to the owners of MSMEs in Bengkulu City. The results show that the dimension of resource leverage most dominantly affects business performance. Meanwhile, calculated risk-taking has a minor effect. Essentially, culinary MSME business actors in Bengkulu City must improve their ability to effectively predict the problem in the future that can be done by joining risk management certification or webinar.JEL Classification: L25, L26, L66How to Cite:Putri, M. K., & Putri, A. N. (2023). Entrepreneurial Marketing Impact Score on MSME Performance Through Its Dimension. Etikonomi, 22(1), 79–92. https://doi.org/10.15408/etk.v22i1.25617.
The Impact of Financial Development on Unemployment: The Case of the People’s Republic of China (PRC) Liu Yixin; Naziatul Aziah Mohd Radzi; Ma Mengqi; Normaizatul Akma Saidi
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.37997

Abstract

Research Originality: As a populous country with a population of 1.4 billion, China faces the imperative issue of employment. This paper focuses on the impact of financial credit and financial deposits on different levels of unemployment in an attempt to analyse the unemployment problem in China.Research Objectives: The paper explores the impact of financial development on unemployment in China.Research Methods: Using panel data from 31 provinces and cities in China (spanning from 2007 to 2021), categorizing unemployment situations, employing quantile regression models to assess the impact of financial development on different levels of unemployment in China.Empirical Results: The findings indicate a negative correlation between financial development and unemployment levels in China. The study reveals that financial credit significantly impacts unemployment in provinces where the economy is higher than average GDP. However, in regions where the economy is lower than average GDP, the impact of financial deposits on unemployment is significant.Implications: This study establishes that the adoption of financial expansionary policies by the government can reduce unemployment and help guide the formulation of more precise and effective economic policies.JEL Classification: G21, E24, C33, O53How to Cite:Yixin, L., Radzi, N.A.M., Ma, M., & Saidi, N.A., (2024). The Impact of Financial Development on Unemployment: The Case of the People’s Republic of China (PRC). Etikonomi, 23(2), 353 – 368. https://doi.org/10.15408/etk.v23i2.37997.
Digital Technology Adoption in Entrepreneurs: Are Ex-Migrant Workers More Adaptive? Jamhul Haer; Evi Gravitiani; Tetuko Rawidyo Putro
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.34681

Abstract

Research Originality: Migrant workers should have improved their skills and be more adaptive to applying digital technology. This research contribution focuses on ex-migrant workers with current careers as business owners.Research Objectives: This research reviewed the determinant factor of technological adoption on entrepreneurs with the experience of ex-migrants based on some factors, such as migrant, demographic, and business.Research Methods: The applied method of this study is - logit regression analysis. This study examined 329 business owners of 1.518 workers as surveyed by the National Workforce Survey, SAKERNAS, in Mataram, in the period 2022.Empirical Results: The research result was the lower digital technology adoption of ex-migrant business owners than the non-ex-migrant workers. The causal factor was the poor educational level of ex-migrant workers in Indonesia.Implications: The empirical implication of this study is - to determine the empowerment program of ex-migrant workers regarding the digital technology utility within the scope of entrepreneurship activities and technological transfer through the ex-migrant workers of Indonesia. JEL Classification: J6, M2, O3How to Cite:Haer, J., Gravitiani, E., & Putro, T. R. (2024). Digital Technology Adoption in Entrepreneurs: Are Ex-Migrant Workers More Adaptive?. Etikonomi, 23(1), 1 – 10. https://doi.org/10.15408/etk.v23i1.34681.
The Importance Level of Islamic Tourism Attributes: Will Religiosity Distinguish? Afred Suci; Rita Wiyati; Inova Fitri Siregar; Satria Tri Nanda
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.34369

Abstract

Research Originality: How Islamic attribute fulfilment may influence Muslim tourists' preferences has been widely known. Yet, the way the model is examined the other way around is relatively scarce in halal tourism literature. The originality of this research lies in the model use in testing the effect of companion type and destination choice, moderated by different levels of religiosity, on Muslim tourists’ assessment of the importance of Islamic attributes in halal tourism.Research Objectives: This study aims to examine the effect of Muslim tourists’ preferences in terms of companion type and destination choice, moderated by their level of religiosity, on their assessment of the importance of Islamic attributes in halal tourism. Research Methods: Friedman and Cochran's Q non-parametric tests were conducted on 189 data collected online to examine the direct effects of companion type, destination choice, and religiosity on Muslim tourists’ assessment of the importance of Islamic attributes. Model 1 of the Hayes Process Macro with binary logistic was employed to examine the moderating effect of religiosity.Empirical Results: The results showed that companion type, religiosity, and destination choice significantly affected Indonesian Muslim travellers' assessment of the importance of Islamic attributes. However, the moderating role of religiosity was not observed.Implications: The findings have implications for Muslim travellers' decision-making literature and may offer better strategies for tourism businesses to attract and retain more Muslim tourists.JEL Classification: C14, C83, Z12, Z32How to Cite:Suci, A., Wiyati, R., Siregar, I. F., & Nanda, S. T. (2024). The Importance Level of Islamic Tourism Attributes: Will Religiosity Distinguish? Etikonomi, 23(2), 433 – 448. https://doi.org/10.15408/etk.v23i1.34369.