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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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Majapahit Journal of Islamic Finance dan Management
Published by Universitas KH. Abdul Chalim
ISSN : -     EISSN : 27980170     DOI : https://doi.org/10.31538/mjifm
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Majapahit Journal of Islamic Finance and Management (MJIFM) (E-ISSN 2798-0170) is a journal published by Universitas KH. Abdul Chalim Mojokerto Indonesia four times a year (March, June, September and December). As the name implies, the journal brings two major themes, namely Islamic Finance and Business Management. The journal invites scholars, practitioners, and researchers to submit articles to the management team. Articles submitted will be published after being verified and modified to suit the standard international journals. MJIFM limits only the article publication related to two major themes having been mentioned.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis dan Menejemen Intetrnasional
Articles 378 Documents
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The Effect of KAP Reputation, Public Ownership, Audit Committee, Institutional Ownership, and Independent Commissioners on the Timeliness of Financial Report Submission Arnindya, Fanisa Diva; Kusumawati, Eny
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.361

Abstract

This study investigates the influence of audit firm reputation, public ownership, audit committee, institutional ownership, and independent commissioners on the timeliness of financial report submission in non-financial companies listed on the Indonesia Stock Exchange for the 2021–2023 period. Timeliness refers to the period between the fiscal year-end (December 31) and the submission date of audited reports to the Financial Services Authority (Bapepam-LK). Using purposive sampling, 738 firms were selected and analyzed with logistic regression, which passed model fit, feasibility, and coefficient of determination tests. Results show that only audit firm reputation significantly affects timeliness, suggesting that pressure from reputable external auditors plays a critical role in ensuring compliance. In contrast, the insignificance of internal governance mechanisms such as public ownership, audit committees, institutional ownership, and independent commissioners may reflect weak oversight functions or insufficient enforcement, possibly influenced by industry norms or firm-specific characteristics not captured in this model. The use of purposive sampling poses a limitation due to potential selection bias, which may affect the generalizability of the findings. Nonetheless, the study offers valuable insights for regulators, companies, and investors on the importance of audit quality in promoting timely financial disclosures and calls for further research into contextual and mediating variables affecting reporting behavior.
The Influence of Profitability, Leverage, And Firm Size on Company Value, An Empirical Study of Manufacturing Companies in the Cement Sub-Sector Listed on the IDX in 2016-2023 Radeva Yudi Mumtaza; Witono, Banu
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.362

Abstract

This study aims to examine the influence of profitability, leverage, and firm size on firm value in cement sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2016–2023 period. The choice of variables is based on prior research suggesting that profitability reflects a company's ability to generate earnings, leverage illustrates financial risk, and firm size captures resource advantages—each theorized to impact firm value. A quantitative approach was employed, applying multiple linear regression analysis. The regression model was tested for classical assumptions to ensure validity. Sampling was conducted through purposive sampling, targeting companies that consistently published complete financial statements during the study period, resulting in a final sample of [insert number] companies. Secondary data were collected through documentation from the official IDX website. Profitability was measured by Return on Assets (ROA), leverage by Debt to Asset Ratio (DAR), and firm size by the natural logarithm of total assets. Firm value, the dependent variable, was measured using Tobin’s Q, selected for its ability to capture both market perceptions and asset replacement costs, which are particularly relevant for the asset-intensive cement industry. The findings reveal that profitability and firm size do not significantly affect firm value, while leverage has a significant impact.
Reflection of Mo Limo Sunan Kalijaga on Regional Government Accountability Salim, Ahmad; Mufarokah, Mufarokah; Suprianto, Edy
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.363

Abstract

The purpose of this study is to identify the philosophy of Sunan Kalijaga's mo limo reflected in the accountability of local government. This study uses a phenomenological approach with informants from the regional secretary and the caretaker of Sunan Kalijaga's tomb. The results of this study are that the main teachings of Sunan Kalijaga that are held firmly are Mo limo. Mo limo consists of Manembah, Mangabdi, Maguru, Makaryo and Martapa. The local government really embodies and actualizes the philosophy of Sunan Kalijaga in the implementation of governance. The implication is that the cultural value of local wisdom of a region needs to be considered to improve public accountability and transparency. The local government must continue to maintain local culture to improve the performance of the local government.
The Role of Job Satisfaction as a Mediator on the Implementation of Human Resource Information System (HRIS) On Employee Performance at PT. Hardo Soloplast Sari, Ella Ayu Puspita; Waskito, Jati
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.364

Abstract

This study investigates the influence of Human Resource Information Systems (HRIS) on employee performance with job satisfaction as a mediating variable at PT. Hardo Soloplast, within the broader context of digital transformation in HR management. Utilizing a quantitative approach and Partial Least Squares-Structural Equation Modeling (PLS-SEM) via SmartPLS 4, the research collected data from 64 randomly selected employees. Results indicate that HRIS significantly enhances both job satisfaction and employee performance, with job satisfaction partially mediating this relationship. While the study confirms the positive impact of HRIS, it treats HRIS as a singular construct without detailing how specific functionalities such as self-service portals, performance tracking, or automated workflows affect satisfaction and performance outcomes. Moreover, the reliance on simple random sampling within a single company limits the generalizability of findings, suggesting that future research should include multi-company comparisons or more diverse sampling strategies. The literature review could be enriched by addressing conflicting evidence and exploring conditions under which HRIS might yield negative effects, such as user resistance or inadequate training. This would provide a more comprehensive and critical understanding of HRIS implementation and its varied outcomes across organizational contexts.
The Role of Corporate Social Responsibility in Mediating the Relationship between Profitability and Company Size on Company Value: Empirical Evidence from the Sharia Banking Industry Sector in Indonesia Elma, Tazida Berliana; Mangifera, Liana
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.365

Abstract

Nilai perusahaan merupakan indikator penting bagi investor untuk menilai prospek bisnis dan keberlanjutan jangka panjang, terutama di perbankan syariah, yang beroperasi di bawah prinsip-prinsip Islam yang beretika. Faktor-faktor seperti tata kelola perusahaan, profitabilitas, dan ukuran perusahaan dihipotesiskan dapat mempengaruhi nilai perusahaan, sementara tanggung jawab sosial perusahaan (CSR) muncul sebagai mediator yang relevan karena perannya dalam praktik bisnis yang berkelanjutan. Dengan menggunakan CSR sebagai variabel mediasi, penelitian ini melihat bagaimana ukuran perusahaan, profitabilitas, dan tata kelola perusahaan mempengaruhi nilai perusahaan. Data sekunder dari laporan tahunan empat bank syariah yang terdaftar di BEI (2018-2023) digunakan dengan pendekatan kuantitatif. Analisis regresi linier berganda dilakukan dengan menggunakan EViews 12, bersama dengan pengujian mediasi melalui uji Sobel. Temuan menunjukkan bahwa profitabilitas dan ukuran perusahaan secara signifikan mempengaruhi nilai perusahaan, baik secara langsung maupun tidak langsung melalui CSR. Sebaliknya, tata kelola perusahaan tidak menunjukkan pengaruh yang signifikan terhadap CSR atau nilai perusahaan. Studi ini menggarisbawahi pentingnya meningkatkan profitabilitas dan mengoptimalkan skala bisnis untuk meningkatkan nilai perusahaan dan inisiatif CSR. Bagi manajemen bank, hasil penelitian ini dapat memandu kebijakan strategis yang berorientasi pada keberlanjutan, sementara regulator dan investor mendapatkan wawasan tentang faktor penentu utama nilai perusahaan dalam keuangan syariah.
The Effect of Idealism, Relativism, Love of Money, and Academic Experience on Ethical Perception of Accounting Students (Case Study on Accounting Students of Muhammadiyah University of Surakarta) Diva Nanda Ayuk Agustina; Triyono
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.368

Abstract

This study investigates the influence of Idealism, Relativism, Love of Money, and Academic Experience on the Ethical Perception of accounting students at Universitas Muhammadiyah Surakarta. Drawing on Forsyth’s Ethics Position Theory, Idealism reflects a belief in universal moral principles, while Relativism denotes ethical flexibility based on context; Love of Money represents a value orientation that may conflict with ethical behavior. Using a quantitative approach, data were collected via online questionnaires from 945 undergraduate accounting students through convenience sampling. Variables were measured using established instruments such as the Ethics Position Questionnaire (EPQ) and the Love of Money scale. Multiple linear regression was applied after verifying assumptions of normality, multicollinearity, and homoscedasticity. Results indicate that Idealism and Academic Experience significantly enhance ethical perception, suggesting that students with strong moral ideals and greater academic exposure are more ethically aware. Conversely, Relativism and Love of Money showed no significant effect, potentially due to cultural or educational factors that prioritize integrity over personal values. These findings highlight the importance of moral conviction and structured academic learning in fostering ethical development, while pointing to the limited influence of relativistic thinking and financial motivation in this context.
The Effect of Liquidity, Leverage, Cash Flow, Earning Growth, Firm Size, and Risk on Financial Health Ike Prety Shinta; Triyono
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.369

Abstract

A company's financial health is vital for sustaining its operations, especially in the face of economic uncertainty and sector-specific challenges. This study seeks to address a critical research gap by examining the determinants of financial health specifically in manufacturing companies within the basic and industrial sectors listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period a time marked by post-pandemic recovery and disruptions in global supply chains. The study employs the Altman Z-score model, traditionally used for bankruptcy prediction, as a comprehensive indicator of financial health due to its ability to synthesize multiple financial dimensions. To investigate the influence of liquidity, leverage, cash flow, earning growth, firm size, and financial risk on financial health, multiple linear regression analysis is conducted. These independent variables are operationalized as follows: liquidity is measured by the current ratio, leverage by the debt-to-equity ratio, cash flow by net operating cash flow, earning growth by year-over-year changes in net income, firm size by the natural logarithm of total assets, and financial risk by the variability of earnings. Data were obtained through purposive sampling based on the availability of complete financial reports during the observation period, resulting in a sample of manufacturing firms that met the inclusion criteria. The results indicate that liquidity, cash flow, and financial risk significantly affect financial health, whereas leverage, earnings growth, and firm size do not demonstrate a meaningful impact.
Implementation of Leverage, Profitability, Company Size, Fixed Asset Intensity, and Capital Intensity on Tax Avoidance (Empirical Study on Manufacturing Companies in the Consumer Goods Sector Listed on the Indonesia Stock Exchange in 2020 – 2022) Ines Dyah Ayu Hapsari; Setiawati, Erma
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.370

Abstract

This study examines the determinants of tax avoidance in the consumer goods sector listed on the Indonesia Stock Exchange from 2020 to 2023 using multiple linear regression. While the method is appropriate, the low R-squared value (24.7%) indicates that key factors such as corporate governance, ownership structure, or international operations may have been omitted, limiting the model’s explanatory power. The Cash Effective Tax Rate (CERT) is used as a proxy for tax avoidance due to its common use in literature; however, it may be influenced by temporary differences or one-off tax items, potentially masking consistent tax planning behavior. Acknowledging this limitation, future research should consider multi-metric approaches and broader variables to capture a more comprehensive picture. Due to sector-specific characteristics, the findings may not be generalizable across industries.
Accounting Students' Perception of Love of Money, Machiavellian, Religiosity, and Taxation Understanding Towards Tax Evasion Aji Tri Mulya; Achyani, Fatchan
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.374

Abstract

This study investigates the psychological and ethical determinants of tax evasion by analyzing the effects of Love of Money, Machiavellianism, Religiosity, and Tax Knowledge among undergraduate accounting students. While the use of a quantitative, positivist approach provides a structured method for identifying variable relationships, the study's generalizability is limited due to its narrow sample of 114 students from a single university who may not represent broader taxpayer behavior. Additionally, reliance on self-reported data concerning sensitive topics like tax evasion introduces the risk of response bias, possibly distorting the findings. The complex, culturally embedded nature of constructs such as Love of Money, Machiavellianism, and Religiosity may not be fully captured through standard questionnaires, potentially weakening the validity of the measurements. Although the study finds that Love of Money significantly influences tax evasion, the insignificance of the other variables might stem from measurement limitations rather than a true lack of effect. Future research should incorporate more diverse and representative samples, refine construct operationalization, and consider mixed-method approaches to deepen understanding of the nuanced drivers behind tax evasion behavior.
E-Wallets and Financial Literacy: Shaping Gen Z Wasteful Behavior in Indonesia Rozaq Syamsul Hidayatullah; Mahameru Rosy Rochmatullah
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 1 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i1.375

Abstract

This study finds that among the tested variables, Love of Money, Machiavellianism, Religiosity, and Tax Knowledge, only Love of Money has a significant influence on tax evasion among accounting students. This highlights the central role of personal financial values in ethical decision-making, suggesting that when monetary gain is prioritized excessively, it can override normative considerations such as compliance and integrity. The non-significance of Machiavellianism, Religiosity, and Tax Knowledge indicates that mere possession of knowledge or personal belief systems may not be sufficient to deter unethical behavior, possibly due to weak internalization or external pressures. These findings underscore the importance of embedding ethical reflection and value-oriented education in accounting curricula, not just focusing on technical competence. Future studies should explore psychological and contextual variables such as peer influence, perceived fairness of taxation, or institutional trust to develop a more comprehensive understanding. Expanding the methodological approach through qualitative interviews and broader sampling would also enhance the richness and generalizability of the results.

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