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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 609 Documents
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Operational Effectiveness and Leverage on Profitability: The Moderating Role of Sales Growth in ASEAN Technology Companies Reza Ananda Setya; Loggar Bhilawa
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.v6i2.978

Abstract

The main objective of the research is to analyze how operational efficiency and leverage affect profitability with ASEAN technology companies in 2024, using sales growth as a moderating variable. This study utilizes secondary data, covering all technology companies in ASEAN listed in the Osiris database in 2024. The sample was determined using specific criteria, resulting in 87 samples from a population of 288. The research methodology employs a quantitative approach through statistical analysis using Moderated Regression Analysis (MRA). The findings of the study show that operational effectiveness has a positive impact on profitability, while leverage has an effect on profitability. Furthermore, sales growth does not moderate the effect of operational effectiveness and leverage on profitability. These findings identify that in increasing profitability, technology companies rely more on internal funding. Therefore, the more effectively a company utilizes its resources in carrying out operational activities, the greates its level of profitability will be.
Distributive Justice and Structural Empowerment and Their Effects on Affective Commitment: The Mediating Role of Psychological Empowerment Among Employees of the Cirebon City Fire and Rescue Department Asep Dwi Agustio; Sandi Nasrudin Wibowo
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.v6i2.986

Abstract

This study examine the effect of Distributive Justice and Structural Empowerment on Affective Commitment, with Psychological Empowerment as a mediating variable among employees of the Fire and Rescue Service (DPKP) of the Cirebon City, Indonesia. A quantitative casual-associative approach was employed, utilizing Structural Equation Modeling – Partial Least Square (SEM-PLS). The population consisted of 240 Employees, and 150 respondents were selected via simple random sampling using the Slovin formula. Data were collected through a closed-ended Likert scale questionnaire (1-5) and analyzed using SmartPLS 4.0. The Results indicate that: (1) Distributive Justice positively and significantly afffects Affective Commitment; (2) Structural Empowerment positively and significantly affects Affective Commitment; (3) Distributive Justice positively and significantly affects Psychological Empowerment; (4) Structural Empowerment positively and significantly affects Psychological Empowerment; (5) Psychological Empowerment positively and signicantly affects Affective Commitment; (6) Psychological Empowerment significantly mediates the effect of Distributive Justice on Affective Commitment; however, (7) the mediation of Psychological Empowerment on the relationship between Structural Empowerment and Affective Commitment is not significant. These findings reinforce the relevance of Social Exchange Theory and provide practical implications for human resource management strategies in public sector organizations.
The Effect of Corrective Discipline and Intrinsic Motivation on Employee Performance at PDAM Tirta Darma Ayu Indramayu Syifa Rahma Aliyah; Lisa Harry Sulistiyowati; Sandi Nasrudin Wibowo
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.v6i2.988

Abstract

This study aims to analyze the effect of corrective discipline and intrinsic motivation on employee performance at PDAM Tirta Darma Ayu, Indramayu Regency. A quantitative causal associative design was employed using primary data collected through questionnaires distributed to 107 employees selected through a saturated sampling technique. Data were analyzed using SPSS through validity and reliability tests, classical assumption tests, multiple linear regression, t-test, F-test, and coefficient of determination. The results show that corrective discipline and intrinsic motivation have positive and significant effects on employee performance, both partially and simultaneously. The model explains 44.8% of employee performance variance. These findings suggest that fair corrective discipline and stronger intrinsic motivation can improve employee performance.
The Effect of Working Capital Turnover and Leverage on Profitability, with Company Size as a Mediating Variable Durotun Nafisa; Wiwit Apit Sulistyowati
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

Abstract

This study aims to analyze the effect of Working Capital Turnover and Leverage on Profitability with Firm Size as a mediating variable in manufacturing companies within the non-cyclical consumer goods subsector listed on the Indonesia Stock Exchange (IDX). The study population consisted of 132 companies, and the data were analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The findings reveal that Working Capital Turnover has a significant negative effect on Profitability but does not significantly affect Firm Size. Leverage has a significant positive effect on Firm Size but does not have a significant direct effect on Profitability. In addition, Firm Size has a significant negative effect on Profitability, indicating that an increase in company assets does not necessarily result in a proportional increase in profit generation. The mediation analysis shows that Firm Size does not mediate the relationship between Working Capital Turnover and Profitability, whereas it significantly and negatively mediates the relationship between Leverage and Profitability. These results suggest that leverage can encourage firm growth through increased assets; however, such growth may reduce profitability. Overall, the study confirms that the relationship between financial structure and profitability is not always direct and can be influenced by indirect mechanisms through Firm Size. Therefore, companies should focus on effective working capital management and optimal leverage utilization to ensure that business growth is accompanied by improved profitability. Furthermore, this study contributes to the corporate finance literature by highlighting the importance of mediating variables in explaining the relationship between financial factors and firm performance.
The Influence of Leadership Style, Compensation, and Work Environment on Turnover Intention at PT Hi-Lex Cirebon Mohammad Abriel Alatas; Kartono
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.v6i2.1032

Abstract

Turnover intention is an important human resource issue in manufacturing companies because employee stability is closely related to production continuity, work discipline, and organizational performance. This study aims to examine the influence of leadership style, compensation, and work environment on turnover intention among employees of PT HI-LEX Cirebon. The study used a quantitative survey approach involving 100 employees as respondents. Data were collected through a five-point Likert-scale questionnaire and analyzed using SPSS 27. The analysis included validity testing, reliability testing, classical assumption testing, multiple linear regression, t-test, F-test, and coefficient of determination. The results show that leadership style has a positive and significant effect on turnover intention, with a significance value of 0.015. Compensation does not have a significant effect on turnover intention, with a significance value of 0.598. Work environment has a positive and significant effect on turnover intention, with a significance value of 0.029. Simultaneously, leadership style, compensation, and work environment have a significant effect on turnover intention, with a significance value of 0.000. The Adjusted R Square value of 0.169 indicates that the three independent variables explain 16.9% of the variation in turnover intention. These findings imply that PT HI-LEX Cirebon should prioritize leadership improvement and work-environment development while continuing to evaluate compensation fairness as part of a broader employee retention strategy.
Organizational Commitment, Workload, and Organizational Justice as Predictors of Turnover Intention at PT Hi-Lex Cirebon Ferdy Arianto; Kartono
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.v6i2.1042

Abstract

This study analyzes the effect of organizational commitment, workload, and organizational justice on turnover intention among employees of PT Hi-Lex Cirebon. The study used a quantitative explanatory design with questionnaire data from 100 employees selected through purposive sampling. Data were analyzed using SPSS through validity, reliability, classical assumption, multiple regression, t-test, F-test, and coefficient of determination. The results show that the three variables have significant partial and simultaneous effects on turnover intention, with workload as the strongest predictor. The policy synthesis recommends workload balancing, stronger employee commitment, and more transparent organizational justice practices to support employee retention.
The Effect of Work System Digitalization and Competence on Employee Performance (A Study on Employees of PT Rizqoena Sentosa Raya) Leo Difna Hira Nirfani; Dharliana Ayu Hardjowikarto; Juwita
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.v6i2.1054

Abstract

This study examines the effect of work system digitalization and competence on employee performance at PT Rizqoena Sentosa Raya, a building and development company in Cirebon Regency, West Java, Indonesia. Using a quantitative associative research design, data were collected from 30 respondents through simple random sampling (Slovin formula, error tolerance 5%) and analyzed using multiple linear regression via IBM SPSS. The results indicate that work system digitalization has a positive and significant partial effect on employee performance (t = 7.311, sig. < 0.001), and competence has a positive and significant partial effect on employee performance (t = 5.772, sig. < 0.001). Simultaneously, both variables exert a positive and significant influence on employee performance (F = 42.344, sig. < 0.001). The model explains 75.8% of variance in employee performance (R² = 0.758; Adjusted R² = 0.740), with work system digitalization emerging as the more dominant predictor (β = 0.692) relative to competence (β = 0.546). These findings suggest that building and development organizations can optimize employee performance by pursuing concurrent investment in digital work system integration and workforce competence development.
Procurement Digitalization With Odoo ERP: An Indonesian Airline Case Study Nabila Qurrotu Aini; Siti Nursyamsiyah
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.v6i2.1060

Abstract

This study aims to analyze the procurement business process of a private airline company in Indonesia, evaluate the effectiveness of the Odoo ERP system in supporting procurement activities, and identify the challenges encountered during its implementation. A descriptive qualitative case study approach was employed. Data were collected through semi-structured interviews, participant observation, and document analysis involving personnel directly engaged in procurement activities. The data were analyzed using thematic analysis. The findings indicate that Odoo ERP has improved procurement administration, document management, transparency, and data accuracy while facilitating procurement monitoring through a centralized database. However, the implementation remains partially constrained by manual procedures, incomplete cross-departmental integration, and occasional technical issues. The study highlights that the effectiveness of procurement digitalization depends not only on technological capabilities but also on organizational readiness and system integration. By providing evidence from the airline industry in Indonesia, this study contributes to the growing literature on ERP-enabled procurement digitalization and offers practical insights for organizations seeking to enhance procurement performance through integrated information systems.
How Brand Personality, Shopping Lifestyle, and Hedonic Motives Influence Impulse Buying Through Positive Emotions Septian Sutrisno Adi Nugroho; Muhammad Sholahuddin
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.v6i2.1066

Abstract

This research explores the extent to which brand character, consumer-oriented lifestyle patterns, and pleasure-seeking purchasing tendencies contribute to spontaneous buying behavior, while considering favorable emotional states as an intervening mechanism among shoppers at Outlet Biru Yogyakarta. Within today's retail landscape, where experiential value increasingly outweighs functional considerations, unplanned purchase decisions frequently emerge from affective responses and lifestyle-driven consumption orientations. This research adopted an explanatory quantitative approach involving 150 participants chosen through purposive sampling techniques. Data collection relied on a five-point Likert questionnaire, and analysis was conducted in SmartPLS using evaluation of measurement models, assessment of structural models, and mediation testing. Findings reveal that brand personality together with hedonic shopping significantly enhance impulse buying, whereas shopping lifestyle fails to produce a statistically significant effect outcome observed. Moreover, positive emotion does not serve as a mediating variable linking brand personality, shopping lifestyle, hedonic shopping, and impulse buying relationships. This study's novelty is established by showing that positive emotion does not consistently operate as a mediating mechanism within hedonic retail contexts framework. Research contributes to consumer behaviour literature by indicating that hedonic and brand-related determinants can directly trigger impulse buying behavior , offering practical insights for retail managers to strengthen experiential shopping strategies.
The Effect of Islamic Financial Report Transparency on Customer Trust Levi Yani; Lili Artati; Novi Astria Ningsih; Siti Mahmudah; Joni Hendra
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.v6i2.1073

Abstract

This study aims to examine and analyze whether the transparency of Islamic financial reports influences the level of customer trust, and to determine how large that influence is within Islamic financial institutions. This study employs a quantitative approach by distributing questionnaires to 30 respondents. The collected data were subsequently tested using the classical assumption test and simple linear regression. The results indicate that the data are normally distributed and satisfy the testing requirements. Based on hypothesis testing (t-test and F-test), a significance value of 0.000 was found, meaning that the transparency of Islamic financial reports has a very positive and significant effect on customer trust. Furthermore, the coefficient of determination test (R Square) yielded a value of 0.80, indicating that transparency of financial reports contributes 80% toward the formation of customer trust, while the remaining 20% is influenced by other factors outside the scope of this study. These findings are consistent with previous research affirming that information transparency is the primary key to preventing suspicion and building customer loyalty within the Islamic banking system.

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