cover
Contact Name
Mohamad Toha
Contact Email
motoha013@gmail.com
Phone
+6281229229207
Journal Mail Official
journal.mjifm@gmail.com
Editorial Address
https://syariah.jurnalikhac.ac.id/index.php/majapahit/about/editorialTeam
Location
Kota mojokerto,
Jawa timur
INDONESIA
Majapahit Journal of Islamic Finance dan Management
ISSN : -     EISSN : 27980170     DOI : https://doi.org/10.31538/mjifm
Core Subject : Economy, Science,
Majapahit Journal of Islamic Finance and Management (MJIFM) is a journal published by Department of Sharia Economics Universitas KH. Abdul Chalim Mojokerto Indonesia twice a year (June and December). The focus and scope have been adjusted to meet the high standards and wide coverage typical of Scopus-indexed publications. The journal accepts submissions in the specified areas: 1. Sharia-compliant banking 2. Management in Islamic context 3. Islamic Business 4. Islamic Accounting 5. Islamic Finance 6. Islamic Marketing Management 7. Human Resources Management 8. E-commerce Business innovation Authors are urged to submit top-notch research and scholarly publications within these clearly outlined domains. The publication is dedicated to improving knowledge in Islamic finance and management while adhering to strict guidelines.
Articles 365 Documents
Corporate Governance Failure in the Use of Influencer Content: Ethical and Legal Analysis Valentino, Andi Joshua Saputra; Satory, Agus
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (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.v6i1.812

Abstract

The development of digital marketing has created a new phenomenon in the form of the unauthorized use of influencer content for commercial purposes, which reflects the failure of corporate governance at the operational level. This study aims to examine the practice of unauthorized use of influencer content from a business ethics perspective, analyze the legal implications that arise, explain the role of corporate governance failure, and provide recommendations for ethical and sustainable digital marketing practices. The research uses a qualitative approach with an empirical experience-based case study design, in which data is collected through participatory observation and literature study, then analyzed using Agency Theory, Stewardship Theory, and the principles of business ethics and Good Corporate Governance. The results show that the practice of using content without permission violates the principles of fairness, transparency, and responsibility in business ethics, and has the potential to violate the Copyright Law, Personal Data Protection Law, and provisions against unlawful acts. Governance failures occur due to the absence of legal verification procedures, weak coordination between marketing and legal functions, and the absence of a stewardship culture that respects stakeholder rights. Through the lens of Agency Theory, this case reflects the uncontrolled opportunistic behavior of agents, while Stewardship Theory shows the absence of moral values in the organizational culture. The resolution of disputes through public pressure indicates the weakness of internal governance mechanisms as a preventive system.  
Determinants of Financial Distress in Construction State-Owned Enterprises Listed on the Indonesian Stock Exchange for the Period 2015-2024 Based on Altman Z-Score Susilo, Bambang; Asyari
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (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.v6i1.814

Abstract

State-owned construction companies face structural financial pressures due to massive debt burdens to finance national infrastructure projects, exacerbated by the COVID-19 pandemic, which caused a 5.67% contraction in the construction sector in 2020, resulting in the suspension of trading of PT Waskita Karya and PT Wijaya Karya shares, which could potentially be delisted from the Indonesia Stock Exchange. This condition confirms that state-owned company status does not provide immunity from bankruptcy, as evidenced by PT Merpati Nusantara Airlines and PT Istaka Karya, which have been declared bankrupt. This study analyzes financial distress conditions based on the Altman Z-Score and identifies the influence of Operating Cash Flow, Company Size, Asset Growth, and Company Age on financial distress for the period 2015–2024, based on Agency Theory and Signaling Theory. Secondary data from four state-owned construction companies listed on the IDX were analyzed using multiple linear regression with SPSS version 31. PT Waskita Karya recorded the lowest Z-Score of −1.96, placing it in the distress zone. Partially: Operating Cash Flow had no significant effect (p = 0.457 > 0.05); Company Size had a significant negative effect (p < 0.001 < 0.05); Asset Growth had a significant positive effect (p = 0.030 < 0.05); Company Age had no significant effect (p = 0.494 > 0.05). Simultaneously, the four variables have a significant effect (p < 0.001 < 0.05) with an Adjusted R² of 47.7%, confirming that the financial distress of state-owned construction companies is multidimensional and requires holistic improvement interventions.
The Effect of Intellectual Capital and Sustainability Report Disclosure on Firm Value : (Study on the Food and Beverage Sector for the Period 2022-2024) Halid, Iklima Abdul; Yusuf, Nilawaty; Pilomonu, Mentari Rizki Sawitri
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (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.v6i1.836

Abstract

This study aims to examine the effects of intellectual capital and sustainability report disclosure on firm value among food and beverage subsector companies listed on the Indonesia Stock Exchange during the 2022-2024 period. Employing a quantitative appoarch, the study uses secondary data collected from corporate finansial statements and sustainability reports. The data analysis technique is panel data regression. The sample consists of 30 food and beverage sub-sector companies for the 2022-2024 period, seceted using a purposive sampling method based on spesific criteria to ensure data relevance and representativeness. The results indicate that: (1) intellectual capital, measured using the Value Added Intellectual Capital (VAIC), has no significant effect on firm value; (2) sustainability report disclosure, measured using the Sustainability Report Disclosure Index (SRDI), also has no significant effect on firm value; and (3) simultaneously intellectual capital and sustainability report disclosure do not aaffect firm value. The coefficient of determination (R2) is 2,54%, indicating the model has low explanatory power for variations in firm value, while the remaining 97,46% is explained by variables outside the model.
The Role of Employee Engagement in Mediating the Effects of Quality of Work Life and Self-Efficacy on Employee Performance: (A Study of Employees at the Salatiga City Regional Secretariat) Pramudya, Dimas Septian Galih; Suhana, Suhana
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (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.v6i1.837

Abstract

The employee population at the Salatiga City Regional Secretariat was 111, consisting of 104 ASN (State Civil Apparatus) and 7 P3K (Government Employee with Work Agreement). The sample was drawn using census sampling, resulting in 111 respondents. Primary data were collected using questionnaires, while data analysis was conducted using linear regression. Conclusion: QWL significantly positively impacts employee performance at the Salatiga City Regional Secretariat. Self-efficacy significantly and positively impacts employee performance at the Salatiga City Regional Secretariat. QWL significantly and positively impacts employee engagement at the Salatiga City Regional Secretariat. Self-efficacy has a significant positive effect on employee engagement at the Salatiga City Regional Secretariat. Employee engagement has a significant positive effect on the performance of the Salatiga City Regional Secretariat. Employee engagement mediates the QWL effect on the performance of the Salatiga City Regional Secretariat. Employee engagement mediates self-efficacy effect on the performance of the Salatiga City Regional Secretariat.
The Effect of Knowledge Sharing and Empowerment on Employee Performance with Job Satisfaction as a Media: (A Study of Salatiga City Regional Secretariat Employees) Goncalves, Ronaldo; Tjahningsih, Endang
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 1 (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.v6i1.839

Abstract

This study aims to analyze and describe the influence of knowledge sharing and empowerment on job satisfaction among employees of the Salatiga City Regional Secretariat. This study aims to analyze and describe the influence of knowledge sharing, empowerment, and job satisfaction on employee performance at the Salatiga City Regional Secretariat. This study aims to analyze and describe how job satisfaction mediates the influence of knowledge sharing and empowerment on employee performance at the Salatiga City Regional Secretariat. This study used a quantitative approach, with a population of 123 employees at the Salatiga City Regional Secretariat. Data were processed using SPSS version 26 software. Data analysis used primary data in the form of a questionnaire. Data analysis techniques included respondent descriptions, variable descriptions, validity tests, reliability tests, F-tests, determination tests (R2), partial t-tests, and Sobel tests. The results show that knowledge sharing has a positive effect on employee job satisfaction at the Salatiga City Regional Secretariat. Empowerment has a positive effect on employee job satisfaction at the Salatiga City Regional Secretariat. Knowledge sharing has a positive effect on employee performance at the Salatiga City Regional Secretariat. Empowerment has a positive effect on the performance of Salatiga City Regional Secretariat employees. Job satisfaction has a positive effect on the performance of Salatiga City Regional Secretariat employees. Job satisfaction mediates the effect of knowledge sharing on the performance of Salatiga City Regional Secretariat employees. Job satisfaction mediates the effect of empowerment on the performance of Salatiga City Regional Secretariat employees.