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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
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 298 Documents
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Strategies of Islamic Banks in Reducing Non-Performing Financing (NPF): A Case Study at BPRS Bangka Belitung Branch Hidayati, Nur
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.652

Abstract

Problematic financing or Non-Performing Financing (NPF) is one of the main challenges faced by Islamic banking in maintaining financial stability and soundness. A high level of NPF can negatively affect profitability, liquidity, and customer trust in the bank. This study aims to analyze the strategies implemented by Islamic banks in reducing problematic financing. The research method used is descriptive qualitative with a case study approach at Bank Pembiayaan Rakyat Syariah (BPRS) Bangka Belitung. The results of the study indicate that the average Non-Performing Financing (NPF) ratio remains higher than the standard set by the Financial Services Authority (OJK), which is 5%, and the internal standard of BPRS Bangka Belitung, which is 7%. The strategies carried out by BPRS Bangka Belitung include direct collection, write-off for fully provisioned (100%) PPAP accounts, restructuring, collection through third parties, and simplified lawsuits through the religious court. These strategies have become key measures in reducing the NPF rate. To further optimize the results, it is necessary to strengthen preventive actions at the financing analysis stage through the 5C analysis (Character, Capacity, Capital, Collateral, and Condition) or more comprehensively with 7P analysis (Personality, Purpose, Prospect, Payment, Party, Profitability, and Protection). Strengthening these analytical processes can minimize the occurrence of problematic financing and enhance sustainable performance improvement.
The Influence of Personal Selling, Direct Selling, and Advertising on ASN Customers’ Decisions to Choose Multi-Purpose Motorcycle Financing Products at Bank Sumut Syariah KCP Rantau Prapat Putri, Melani Adila; Muhammad Syahbudi; Nurwani
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.658

Abstract

The purpose of this study is to examine how advertising, direct sales, and personal sales influence the decisions of civil servants (ASN) in choosing multipurpose financing (PMG) options for motorcycles at Bank Sumut Syariah KCP Rantau Prapat. The methodology used is quantitative survey research using questionnaires as a research tool. The survey will be given to customers of Bank Sumut Syariah KCP Rantauprapats multifunctional motorcycle loan products. The sampling method used was incidental sampling and the following slovin formula, and data analysis was performed using SPSS version 25, which included multiple linear regression analysis. The study findings show that although direct sales and advertising have a significant positive impact on consumer decisions, personal sales have a positive but negligible impact. Together, these three variables contribute 64.1% to ASN customer decisions, while other factors outside the scope of this study influence 35.9%. The implications of this study highlight the importance of Islamic banks maximizing face-to-face promotion and innovative advertising to increase ASN interest and encourage more participatory assessment of personal marketing tactics. To obtain a more comprehensive picture, further research is recommended to examine additional elements, including service quality, trust, and Islamic financial knowledge.  
The Effect of Capital Structure, MVA, and Dividend Yield on Stock Prices in the Industrials Sector on the IDX in 2021–2024 Wirianti, Hasmi; Anita, Nur
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.665

Abstract

Fluctuations in stock prices in the Industrials sector on the Indonesia Stock Exchange show that investors consider fundamental factors in decision-making. However, the results of previous research related to the influence of capital structure, company value, and dividend policy are still inconsistent, so a new study is needed. This study aims to analyze the influence of capital structure (DER), Market Value Added (MVA), and dividend yield on stock prices. The research uses a quantitative method with multiple linear regression based on secondary data from the IDX's financial statements and share prices. The sample consisted of 9 companies with 36 observations. The results of the classical assumption test showed that the model met the requirements of normality, multicollinearity, heteroscedasticity, and autocorrelation did not occur. Partial tests showed that DER (Sig = 0.075) and MVA (Sig = 0.058) had no significant effect, while dividend yield had a significant negative effect (Sig = 0.003). Simultaneous tests showed a significant influence of the three variables with a Calculation of 4.502 and a Sig of 0.010. The Adjusted R² of 0.231 shows that other variables are more dominant in influencing the stock price. Further research is suggested to add variables and extend the analysis period.
The Influence of Fomo and Self-Control on Personal Financial Management With Impulsive Buying Behavior as a Mediating Variable Among Shopeepaylater User Students May Ningsih; Nur Anita
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.666

Abstract

This study examines how digitalization and social media intensification shape students’ financial behaviour by focusing on the psychological factors of Fear of Missing Out (FOMO) and Self-Control, which are presumed to influence Impulsive Buying Behaviour and, consequently, Personal Financial Management. Using a quantitative causal design, data were collected from 51 ShopeePayLater users in Bengkalis Regency and analysed through PLS-SEM using WarpPLS 7.0. The results indicate that FOMO does not significantly affect personal financial management but positively influences impulsive buying, whereas Self-Control positively affects financial management and negatively affects impulsive buying, making it a crucial stabilizing factor. Impulsive buying is found to negatively affect financial management and mediates the relationship between FOMO and financial outcomes, although it does not mediate the influence of Self-Control. These findings highlight the complex psychological mechanisms shaping students’ financial decisions in the BNPL era. The study provides theoretical contributions to behavioural finance and offers practical implications for educational institutions and BNPL providers to strengthen financial literacy, enhance students’ self-control, and reduce the behavioural risks associated with FOMO-driven consumption.
Factors Influencing Investment Decisions Among Generation Z Students at Universities on Bengkalis Island Agusti, Reni; Anita, Nur
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.676

Abstract

Students' interest in investing is growing, but the quality of investment decisions is still influenced by various factors. This study aims to analyze the influence of investment knowledge, investment motivation, financial behavior, and financial literacy on student investment decisions at three universities on Bengkalis Island. Data was collected through Google Form questionnaires and live questionnaires, with a total of 122 respondents. The analysis methods used were descriptive statistics and multiple linear regression. The results showed that investment knowledge had a significant effect on investment decisions (t = 3,685; Sig = 0.000; β = 0,250). Financial behavior also had a significant effect (t = 3,294; Sig = 0.001; β = 0.209), as well as financial literacy which was the most dominant variable (t = 5.971; Sig = 0.000; β = 0,550). However, investment motivation had no significant effect (t = –1,687; Sig = 0.094). In conclusion, the ability to understand finances and the way students manage their money has been proven to have more influence on investment decisions than just motivation. Further research is suggested to add variables related to financial behavior and expand populations and locations to make the results more comprehensive.
Working Capital Efficiency, Cost Control, and Liquidity as Drivers of Profitability: Evidence From Property and Real Estate Companies Syahwildan, Muhammad; Rulianti, Erina; Efendi, Destriani Safitri
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.683

Abstract

Real estate companies are required to improve efficiency in financial management to remain competitive and survive in dynamic market conditions. The efficiency of working capital utilization, the effectiveness of cost control, and the level of liquidity are important factors that play a role in determining the company’s profitability level. The sampling method used is non-probability sampling, specifically the purposive sampling method. The sample for this study consists of 8 property and real estate companies listed on the IDX during the 2019-2024 period. This research utilizes EViews 13 for analysis. The research findings indicate that working capital utilization has no effect on profitability.
Feasibility Study of Tank Car Investment for Fuel Distribution at Fuel Terminal in Garut Area Fitrianingrum, Salvia; Kushariyadi, Kushariyadi; Resionda, Muhammad Ayyasi
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.507

Abstract

This study examines the effectiveness and economic feasibility of purchasing and leasing a fleet of tankers for fuel distribution to gas stations. The fleet used consists of 10 units with various capacities. The results show that the initial investment for purchasing reached Rp19,377,842,022.10, while the rental cost was only Rp17,925,390,000. The annual operating cost for purchasing was recorded at Rp53,193,591,706.93, higher than the rental cost of Rp51,585,649,513.20. Despite the higher operating costs, the annual depreciation for purchasing was recorded at Rp1,695,561,201.60 with a BEP value of Rp150,600,071,968.05. From a financial perspective, the IRR for leasing reached 18%, slightly lower than the purchase which reached 19%. However, the PV value of income from leasing is greater, namely Rp199,184,815,732.30, compared to purchasing which is only Rp199,509,891,668.76. Based on the analysis of the profitability index and the investment payback period, the leasing scheme is proven to be more effective and feasible than purchasing, both in terms of initial costs, operational costs, and long-term profit potential, and is more feasible to implement.
The Potential of Halal Culinary Gastronomy, the Role of Cultural Identity of Muslim Women Vendors, and Creative Economy on the Increase of Tourist Visits at Suranadi Tourism Village Wardi, Putri Amalia; Widiyasti, Baiq Dinna; Karmadi, I Nengah Dwiki Widya; Purnama, Laela; Triutami, Komang Bintang Rastini
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.588

Abstract

Halal tourism has rapidly grown as one of the prominent global market segments, particularly in Muslim-majority countries. Suranadi Tourism Village in Lombok, West Nusa Tenggara, holds unique potential through its halal gastronomy, the cultural identity of Muslim women traders, and creative economy initiatives, which together attract domestic and international visitors. This study aims to analyze the influence of these three factors on tourist visits by employing a mixed method approach. The quantitative phase involved survey data from 395 tourists using a Likert scale (1–5), analyzed with PLS-SEM. The qualitative phase was conducted through in-depth interviews with 15 key and analyzed thematically. Quantitative results indicate that all constructs were valid (outer loading > 0.70) and reliable (α and CR > 0.70; AVE > 0.50). Qualitative findings reinforced these results, highlighting tourists’ appreciation for the legendary Suranadi satay, their higher trust in women wearing hijab, and their interest in creative attractions such as rafting. The study concludes that integrating halal gastronomy, cultural identity, and creative economy creates a competitive halal tourism ecosystem. These findings provide significant implications for strengthening halal tourism branding strategies in West Nusa Tenggara.

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