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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 588 Documents
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Sharia Compliance Analysis of Indonesia’s National Health Insurance (BPJS Kesehatan): A Hybrid Model Between Takaful Principles and State Social Insurance Cholis Waidi Salaman
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study analyzes the Sharia compliance of BPJS Kesehatan as Indonesia’s national social health insurance system by examining its contractual structure, contribution mechanism, fund management, penalty system, and participation status. The research is motivated by the need to evaluate whether state-based social insurance aligns with Islamic insurance (takaful) principles within fiqh muamalat. A qualitative case study approach was applied using interviews, field observations, focus group discussions, and document analysis. Data were analyzed using inductive and deductive methods based on Islamic jurisprudence and social insurance theory, supported by comparative perspectives from Indonesian Islamic institutions. Findings show that BPJS Kesehatan is structurally aligned with the Islamic principle of tabarruʿ through collective risk-sharing and mutual assistance (taʿāwun). However, it does not fully comply with Islamic insurance contracts such as wakālah bi al-ujrah due to its statutory nature and lack of formal Sharia governance. In addition, investment of funds in non-Sharia-compliant instruments and the contested nature of late payment penalties indicate partial Sharia non-compliance at the operational level. Despite these issues, participation is considered permissible (mubāḥ) based on public necessity and welfare considerations. The study concludes that BPJS Kesehatan is a hybrid social insurance system with partial Sharia alignment, requiring governance reform in investment management and contractual standardization to achieve full compliance.  
Cost Perspective in the Selection of Cattle Sales Channels (Case Study: Cattle Farmers in Bongomeme) Reza Putra Moohulalo; Zulkifli Bokiu; Nurharyati Panigoro
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1120

Abstract

This study aims to analyze the cost perspective in the selection of cattle sales channels by farmers in Bongomeme, Gorontalo. This study uses a qualitative descriptive approach with primary data obtained through in-depth interviews and observations of four key informants, consisting of farmers who use brokers (dahangi) and those who sell directly. The data were analyzed using the Miles and Huberman interactive model. The results show that farmers experience an illusory profit because they only apply a cash-basis perspective, ignoring opportunity costs such as unpaid personal labor and natural feed. The decision to choose a sales channel is heavily influenced by risk aversion, liquidity needs, and information asymmetry. Farmers who use brokers prioritize risk transfer and fast cash to avoid the fear of price manipulation, while those selling directly optimize margins by utilizing personal assets and digital literacy (social media). The study concludes that direct selling is the most efficient channel when farmers apply a full costing method to accurately calculate the real cost of production.
Evaluating Sakti User Satisfaction: An Integration of the Delone & Mclean Model and the Technology Acceptance Model (A Study on Partner Work Units of the Type A1 State Treasury Office of Gorontalo) Jerry Kurniawan Piri; Tri Handayani Amaliah; Hendra Pratama Danial
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1127

Abstract

This study analyzes the effect of system quality and information quality on user satisfaction of the Agency-Level Financial Application System (SAKTI), with perceived ease of use and perceived usefulness placed as intervening variables. SAKTI is a mandatory web-based system used by all government work units to manage state finances. The study integrates the DeLone and McLean Information System Success Model with the Technology Acceptance Model. It applies a quantitative explanatory design. Primary data were collected through a closed-ended questionnaire with a five-point Likert scale from 85 active SAKTI users at partner work units of the Type A1 State Treasury Office of Gorontalo. The sample was drawn through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling with SmartPLS 4 (Ringle et al., 2024). The study tested eighteen hypotheses covering direct effects, single mediation, and sequential mediation. Eleven hypotheses were accepted and seven were rejected. System quality and information quality did not affect user satisfaction directly. Their effect ran through perceived ease of use and perceived usefulness. Perceived usefulness was the strongest direct predictor of user satisfaction. Information quality reached user satisfaction through a full sequential path, while system quality did not. The findings confirm that user beliefs carry the effect of objective system attributes on satisfaction.
The Effect of Audit Knowledge and Professional Skepticism on Audit Quality with Auditor Ethics as a Moderating Variable: Evidence from the Inspectorate of Gorontalo Province Heli Wahyuni Mamonto; Usman; Mentari Rizki Sawitri Pilomonu
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1130

Abstract

This study investigates the effect of audit knowledge and professional skepticism on audit quality, with auditor ethics serving as a moderating variable. A quantitative approach was employed using survey data collected from auditors at the Inspectorate of Gorontalo Province. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The results reveal that audit knowledge and professional skepticism have positive and significant effects on audit quality. Auditor ethics strengthens the relationship between audit knowledge and audit quality. However, auditor ethics negatively moderates the relationship between professional skepticism and audit quality. These findings indicate that auditors with adequate knowledge and strong professional skepticism tend to produce higher-quality audits. Furthermore, ethical values enhance the effective application of audit knowledge in the auditing process. This study contributes to the understanding of factors influencing audit quality in the public sector and provides practical implications for improving auditor competence, ethical conduct, and audit performance within government institutions.
The S-O-R Approach to Analyzing Comparative Effectiveness of Influencer Marketing and Social Media Ads: The Mediating Roles of Brand Awareness and Perceived Value on Consumer Purchase Intention Wawan Kurniawan; Yolanda Masnita; Kurniawati
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1151

Abstract

The exponential growth of social media has established influencer marketing and paid advertising as dominant promotional channels, yet a critical knowledge gap persists regarding their comparative effectiveness when brands deploy both strategies concurrently. Prior research predominantly examines these channels separately, failing to address the practical reality brands face in allocating resources across simultaneous campaigns. This study fills this void using the Stimulus-Organism-Response (S-O-R) theoretical lens to assess comparative effectiveness of influencer marketing versus social media ads on purchase intention, mediated through brand awareness and perceived value. Analysis incorporated responses from 270 active social media users recently exposed to both promotional formats within 3-6 months. Employing PLS-SEM methodology, six hypotheses were examined: two testing direct relationships (H1-H2) and four assessing mediation mechanisms (H3-H6). Results provide empirical validation across all hypotheses. Influencer marketing exhibits superior direct impact on purchase intention, while social media advertising achieves greater effectiveness via indirect routes, especially through enhanced brand awareness and value perception formation. This research advances literature by delivering the inaugural comparative examination of concurrent marketing stimuli within an integrated analytical structure, revealing how consumers mentally process simultaneous promotional communications. For practitioners, findings inform strategic decisions regarding resource distribution and the construction of cohesive communication approaches capitalizing on each channel's distinct advantages.
Analysis of Determining Production Cost Using the Activity-Based Costing (ABC) Method at Putra Mandiri Mebel Nuralifah Alawiah; Rio Monoarfa; Mentari R. Sawitri Pilomonu
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1155

Abstract

This study aims to analyze the determination of production cost using the Activity-Based Costing (ABC) method at Putra Mandiri Mebel. The Activity-Based Costing method was chosen because it is capable of calculating costs more accurately in manufacturing companies by allocating costs based on the activities consumed in the production process—from the beginning through to the finished goods stage—in a more specific manner compared to conventional methods. With this method, the cost of goods manufactured can be calculated more precisely based on the activities consumed by the product. This study employs a qualitative descriptive approach using data collection techniques such as document analysis and interviews. The results of this study indicate a difference in calculations between the conventional method and the Activity-Based Costing (ABC) method. For sofa products, overcosting occurred, where the conventional method estimated the COGS for the sofa at Rp 32,285,105, and the COGS for teak chairs at Rp 40,583,731. Meanwhile, the estimated COGS for products using the ABC strategy at Putra Mandiri Mebel resulted in Rp 26,865,102 for sofas and Rp 35,807,447 for teak chairs. This study recommends that the company adopt Activity-Based Costing (ABC) to review its cost calculation methods when determining COGS.
The Effect of Operating Costs on Net Profit in Automotive Sector Companies Listed on the Indonesia Stock Exchange in the 2021-2024 Period Virna Bahu; Sahmin Noholo; Siti Pratiwi Husain
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1156

Abstract

This study examines the effect of operating costs on net profit in automotive sector companies listed on the Indonesia Stock Exchange (IDX) during 2021–2024. A quantitative approach with simple linear regression analysis was applied. The sample consists of 11 companies selected through purposive sampling, resulting in 44 firm-year observations. Secondary data were collected from audited annual financial reports published on the IDX.The results show that operating costs have a positive and significant effect on net profit, with a t-value of 34.033 > t-table 2.018 and a significance value of 0.000 < 0.05. The adjusted R² value of 0.821 indicates that 82.1% of the variation in net profit can be explained by operating costs. All classical assumption tests were satisfied, confirming the validity of the regression model.The findings suggest that operating costs, when managed efficiently, contribute to net profit growth in the automotive sector. This study provides empirical evidence for managers and investors regarding cost management strategies.
Development of Marketing Strategy for Waqf Benefits from Takaful and Sharia Insurance Investments in Indonesia (A Case Study of PT Allianz Life Syariah) fatmawati Hidayat; Achmad Firdaus
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

This study aims to identify internal and external factors that influence the success of marketing Islamic insurance policy waqf in Indonesia, and to formulate effective marketing strategies to increase sales of this product. The research used is SWOT analysis and brand analysis with a qualitative-descriptive approach, using primary data from interviews and observations as well as secondary data from literature and industry reports. The results of the study show that the main strength of the Islamic insurance policy waqf product lies in the support of strong sharia regulations and the largest Muslim population in the world. However, challenges such as low public literacy about waqf and lack of understanding of marketing personnel about the product are significant weaknesses. Great opportunities are seen from the increasing public interest in productive waqf, while threats include competition with conventional products and low public trust in the insurance industry.
Traffic Accidents and Their Implications on the Balance of Family Rights and Obligations from the Perspective of Maqashid Sharia (Case Study of the Pulau Taliabu Police Department) Edi Jain Nurhasa; Jubair Situmorang; Harwis Alimuddin
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.v5i4.529

Abstract

This study aims to analyze the impact of traffic violations, particularly red light violations, on the balance of rights and responsibilities within the family from the perspective of maqashid syariah. The research was conducted in Pulau Taliabu Regency using a descriptive qualitative approach. Data were collected through in-depth interviews with victims’ families, traffic officers, and community leaders, as well as documentation from related institutions. The findings reveal that traffic violations have serious implications for family life, especially when the victim is the head of the household or primary breadwinner. These impacts include economic disruption, changes in household roles, and psychological stress on family members. In the maqashid syariah perspective, such violations indicate neglect of the protection of life (hifz al-nafs), property (hifz al-mal), and lineage (hifz al-nasl). Therefore, addressing traffic violations requires a multidimensional approach: legal enforcement, public education, and the internalization of religious values in traffic behavior.
The Influence of Green Marketing, Brand Image, Product Quality on Customer Loyalty Reviewed on Islamic Business Perspective Samsul Maarif; Muhammad Iqbal; Okta Supriyaningsih
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.v6i1.630

Abstract

This study aims to analyze the influence of Green Marketing, Brand Image, Product Quality on customer loyalty reviewed in the Islamic business perspective of the study on consumers MS Glow in Bandar Lampung. The approach in this study is to use quantitative research methods. The population in this study is all customers in Bandar Lampung MS Glow unknown number (unknown population). The number of samples used in this study was 96. The results of this study show that Brand Image and Product Quality individually have a positive and significant impact on customer loyalty. Although Green Marketing does not have a significant individual influence, the three variables of Green Marketing, Brand Image, and Product Quality simultaneously contribute to customer loyalty, implying a complex interaction in which brand image plays an important role when combined with green initiatives and guaranteed product quality.

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