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 493 Documents
Safety Compliance and Occupational Accidents: Evidence from Hospital Employees Using Structural Equation Modeling Kalam Tukiman; Andry Andry; Mohamad Reza Hilmy
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.v6i1.811

Abstract

Occupational accidents in hospitals remain a safety issue that impacts the sustainability of services and organizational performance. This study aims to analyse the influence of Safety Leadership, Safety Climate, and Safety Self-Efficacy on Occupational Accidents with Safety Compliance as a mediating variable among employees at Tzu Chi Hospital. The study used a quantitative approach with an analytical survey design. Respondents numbered 296 employees from various work units. Data were collected through a structured questionnaire and analysed using Structural Equation Modelling (SEM) AMOS version 29 to test the direct and indirect effects between variables. The analysis results show that Safety Leadership, Safety Climate, and Safety Self-Efficacy have a significant effect on Safety Compliance. Safety Compliance has a significant effect on Workplace Accidents. In addition, Safety Compliance is proven to mediate the influence of Safety Leadership, Safety Climate, and Safety Self-Efficacy on Workplace Accidents. These findings indicate that strengthening safety leadership, consistent perceptions of safety climate, and employee confidence in safety capabilities play an important role in shaping safe work compliance and reducing the incidence of workplace accidents. This study concludes that occupational accident prevention strategies in hospitals need to focus on strengthening safety leadership behaviour, a supportive safety climate, and increasing employee self-efficacy to encourage sustainable safety compliance.
Sustainability as a Value Creation Mechanism: A Conceptual Framework of ESG, Profitability, and Market Valuation Toto, Yusron
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.v6i1.818

Abstract

This study empirically evaluates the role of sustainability in practices that influence firm value by explicitly modeling profitability as a transmission mechanism. Using a balanced panel of 51 firms listed on the Indonesia Stock Exchange over 2017–2023 (357 firm-year observations), the analysis applies a Random Effects model estimated using EGLS, selected through Chow, Hausman, and Lagrange Multiplier tests. The results indicate that ESG performance, carbon disclosure, and green innovation positively and significantly affect Return on Assets (ROA). Further estimations show that ESG performance, carbon disclosure, green innovation, and ROA exert positive and significant effects on firm value (Tobin’s Q), while firm size and leverage display negative and significant impacts. Mediation analysis using Sobel, Aroian, and Goodman tests confirms that ROA significantly mediates the relationship between each sustainability dimension and firm value. The models explain approximately 48% of the variation in ROA and 54% of the variation in firm value. Conceptually, the study integrates the Triple Bottom Line, Doughnut Economics, and modern capitalism into a unified framework linking sustainability practices to firm value through internal profitability.
The Influence of Corruption, Trade Openness, Political Stability, and Skilled Labor on Foreign Direct Investment (FDI) in BRICS Countries Erni Setyowati; Siti Aisyah
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.v6i1.832

Abstract

Foreign direct investment flows play a crucial role in driving economic growth and development in developing countries, including the BRICS group. However, FDI inflows are inextricably linked to the economic and political conditions of each country. This study aims to determine the influence of corruption levels, trade openness, political stability, and skilled labor on foreign direct investment (FDI) flows into BRICS countries (Brazil, Russia, India, China, and South Africa) during the 2010-2020 period. The data used are secondary data obtained from the World Bank using panel data regression analysis. The results of this study indicate that corruption, trade openness, and labor have a significant negative effect on FDI. This leads to an increase in these factors, which in turn reduces foreign investment inflows into BRICS countries. Meanwhile, political stability has a significant positive effect on FDI, meaning that the more stable a country's political conditions, the greater the FDI inflows. Therefore, to increase investment attractiveness in the BRICS region, efforts are needed to strengthen political stability and improve the quality of institutions through reducing corruption, managing trade openness, and increasing labor productivity to remain cost-competitive.
The Effect of Customer Experience, Customer Satisfaction, and Perceived Security on Customer Loyalty at Gamerskin Aesthetic Clinic Galang Saputro Wahyu Nugroho; Auditia Setiobudi
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.v6i1.849

Abstract

The aesthetic service industry is experiencing rapid growth alongside increasing public awareness of health and beauty treatments. However, the high intensity of competition has made customer loyalty a crucial strategic issue. This study aims to analyze the influence of customer experience, customer satisfaction, and perceived security on customer loyalty at Gamerskin Aesthetic Clinic. This research employs a quantitative approach using a survey method. The research sample consists of 100 respondents who are active customers of Gamerskin Aesthetic Clinic, determined using a simple random sampling technique. Data were collected through questionnaires using a Likert scale and analyzed using multiple linear regression with the assistance of SPSS. The results indicate that customer experience, customer satisfaction, and perceived security simultaneously have a significant effect on customer loyalty. Partially, customer experience and perceived security have the most dominant influence on customer loyalty. These findings confirm that customer loyalty in aesthetic clinics is determined not only by functional satisfaction but also by emotional experience and the medical safety assurance perceived by the customers.
The Effect of E-Service Quality and User Interface of PLN Mobile Application on Customer Satisfaction with Customer Trust as an Intervening Variable Muhamad Sovian Ilham; Arthur Sitaniapessy; Joko Rizkie Widokarti
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.v6i1.888

Abstract

The utilization of information technology through the PLN Mobile application is crucial for improving service quality and customer satisfaction. However, a thorough evaluation of the influence of e-service quality and user interface on customer satisfaction, especially in the UP3 Ambon region, is still needed. This study aims to analyze the direct effect of e-service quality and user interface on customer satisfaction, as well as the role of customer trust as an intervening variable. The research uses a quantitative approach, with data collected via a questionnaire from 60 respondents who are users of the PLN Mobile application. Data analysis was carried out using Structural Equation Modeling (SEM) with the Partial Least Squares (PLS-SEM) approach. The results of the study indicate that e-service quality has a positive and significant effect on customer satisfaction as well as on customer trust. The user interface also has a positive and significant effect on both customer satisfaction and customer trust. Moreover, customer trust has been proven to have a positive and significant effect on customer satisfaction. The customer trust variable also acts as a significant mediating variable in the relationship between e-service quality and customer satisfaction, as well as between user interface and customer satisfaction. Thus, all research hypotheses (Ha1–Ha7) are accepted. These findings emphasize the importance of e-service quality and user interface in enhancing customer satisfaction and trust toward PLN’s digital services.
Effect of Investment Knowledge, Return Perception, and Investment Motivation on Gold Investment Interest in Dana Digital Wallet Application in Islamic Business Perspective (Study on Gen Z in Bandar Lampung City) Ricky Febriansyah; Suhendar; Liya Ermawati
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.v5i4.682

Abstract

This study aims to analyze the effect of investment knowledge, perception of Return, and investment motivation on gold investment interest through the DANA digital wallet application on Generation Z in Bandar Lampung City. The research method used is quantitative with survey techniques through the distribution of questionnaires to respondents who meet the criteria. Data analysis technique is done using Partial Least Square (PLS). The results showed that investment knowledge variables have a positive and significant influence on investment interest, indicating that a good understanding of financial instruments can improve investment decisions. The perception of Return has also been shown to have a positive and significant influence, which indicates that the view of stable profits encourages investment interest in digital gold. In addition, investment motivation also has a positive and significant effect on investment interest, where psychological motivation and financial goals encourage consistency in investment behavior. In the perspective of Behavioral Finance, these three variables show the psychological contribution, risk perception, and individual confidence in investment instruments. Furthermore, in the perspective of Islamic business, digital gold investment through a platform that is transparent and free of speculation is considered halal and can maintain the blessing of wealth. Thus, this study confirms that internal factors and financial perceptions play an important role in shaping the interest of digital gold investment in Gen Z in the current era of financial technology development. Purpose-this study was conducted to understand the effect of investment knowledge, perception of Return, and investment motivation on gold investment interest through the DANA digital wallet application on Generation Z in Bandar Lampung City. The focus of the study is directed to efforts to identify how much psychological factors, financial perceptions, and investment literacy levels are able to shape investment decisions in the digital age. In addition, this study aims to provide an overview of the investment behavior of the younger generation in the perspective of Islamic business, which emphasizes the principles of halal, transparency, and productive management of property. Thus, the results of this study are expected to contribute to the development of Sharia financial literacy and increase interest in digital gold investments that are safe, easily accessible, and in accordance with the muamalah principle. The novelties of this study lies in the use of a combination of investment knowledge variables, perception of Return, and investment motivation simultaneously in analyzing gold investment interest through the DANA digital wallet application in Gen Z in Bandar Lampung City in the perspective of Islamic Business. Previous research has generally focused on conventional investments, marketplace platforms, or other instruments without considering Sharia aspects and the behavior of young investors towards digital gold. In addition, the object of research that is centered on digital wallet users as an investment medium makes this study relevant to the development of modern financial technology. The location and period of the study also provide an updated overview of the investment trends of the younger generation after the increase in financial digitization
The Effect of Financial Performance on Stock Performance in the Banking Industry Listed on the Indonesia Stock Exchange Ismail, Muhammad Fauzy; Muchtar, Susy
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.v6i1.741

Abstract

This research aims to gain insight into the influence of a bank's financial performance on its market performance assuming that the financial performance of an organization is the most important criterion that triggers stock price movements. The data used in this study is secondary data sourced from the annual banking report listed on the Indonesia Stock Exchange (IDX) from 2020 – 2024. The number of research samples was 29 banks with a total of 145 data that met the criteria. This study used multiple linear regression analysis on panel data to evaluate the relationship between independent and dependent variables using e-views software 9. The results of this study show that net non-performing assets and current account savings accounts have a significant negative impact on share price growth. Capital adequacy ratio, net interest margin, and liquid assets total assets have a significant positive impact. Bank size has a significant positive impact. The implications of this research can be useful for managers to evaluate financial performance and strategies that affect market perception and also investors to consider external factors such as economic conditions and market sentiment.
The Effect of Recruitment Process, Compensation, and Work Motivation on Employee Performance at Ilianur Women and Children Hospital, Serang, Banten Ramadhan, Kemas Riskia
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.v6i1.779

Abstract

This study examines the effects of the recruitment process, compensation, and work motivation on employee performance at Ilanur Mother and Child Hospital (RSIA Ilanur), Serang, Banten. The research adopts a quantitative approach with a descriptive and correlational research design. The population consists of 77 hospital employees, from which a sample of 65 respondents was determined using the Slovin formula and selected through a non-probability sampling technique. Data were collected using structured questionnaires and analyzed using descriptive statistics and inferential statistical methods, including t-tests and F-tests. The results indicate that the recruitment process has a positive effect on employee performance, as evidenced by a t-value of 0.270 with a significance level below 0.05. Compensation also shows a positive effect on employee performance, with a t-value of 1.919 and a significance level below 0.05. Furthermore, work motivation demonstrates a strong positive effect on employee performance, reflected by a t-value of 7.443 and a significance value of 0.000. Simultaneously, the recruitment process, compensation, and work motivation significantly influence employee performance, as indicated by an F-value of 25.462, which exceeds the F-table value of 2.730, with a significance level of 0.001. These findings suggest that effective recruitment, fair compensation, and strong work motivation are critical factors in improving employee performance in healthcare organizations.
Enabling B2B Customer Performance Through AI Assimilation: The Mediating Role of Customer Experience in Indonesian Markets Rahmansyah, Ary; Kurniawati; Risqiani, Renny
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.v6i1.785

Abstract

This study examines the influence of AI adoption, social value, informational value, and ease of use on customer experience and their effects on customer performance within the B2B sector in Indonesia. A quantitative methodology was utilized using a Likert-scale questionnaire administered to B2B companies implementing AI, and the data were examined using Structural Equation Modeling (SEM) with AMOS 22. The findings demonstrate that AI adoption, informative value, and usability positively influence consumer experience, whereas dependence obstacles exert a negative impact. Conversely, social value, enjoyment obstacles, and performance barriers exhibit no substantial impact. Moreover, customer experience significantly enhances customer performance. The findings indicate that in the B2B setting, companies emphasize the functional advantages of AI, like information quality and service convenience, over social value or perceived technological obstacles. This study suggests that the degree of AI integration, the quality of value experienced by consumers, and the firm's capacity to control reliance on technology partners are critical elements in optimizing the efficacy of AI in enhancing customer performance.
The Influence of Internally Generated Revenue and Capital Expenditure on Regional Financial Independence in Regencies/Cities of North Sumatra Province in 2019-2023 Manurung, Siska Triendent; Hendaris, R Budi
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.v6i1.793

Abstract

This study analyzes fiscal dynamics at the subnational level by examining the relationship between internally generated revenue and capital expenditure and their implications for regional financial independence across regencies and municipalities in North Sumatra Province during the 2019–2023 period. Using a quantitative research design, the study relies on secondary fiscal data obtained from official financial balance reports published by the Ministry of Finance of the Republic of Indonesia. The empirical analysis is conducted using multiple linear regression after ensuring that all classical assumption requirements are satisfied. The findings indicate that internally generated revenue has a positive and statistically significant effect on regional financial independence, suggesting that stronger local revenue capacity enhances fiscal autonomy and reduces reliance on intergovernmental transfers. In contrast, capital expenditure shows a negative and significant relationship with regional financial independence, reflecting the long-term nature of returns from public investment in fixed assets and infrastructure. When examined simultaneously, both variables significantly explain variations in fiscal independence among local governments. These results highlight the importance of strengthening local revenue mobilization while improving the strategic allocation of capital spending. Achieving sustainable regional financial independence under a decentralized governance framework requires a balanced approach that aligns revenue generation with prudent expenditure management to support long-term regional development.