Journal of Ekonomics, Finance, and Management Studies
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam mempublikasi hasil riset dan kajian terkini bidang ekonomi, keuangan, manajemen dan bisnis Islam. Mulai 2011, jurnal ini terbit tiga kali setahun setiap Maret, Juli dan November. Jurnal ini dikelola oleh Pusat Riset dan Kajian Strategis (PRKS) Masyarakat Ekonomi Syariah (MES) Bogor Raya bekerjasama dengan Institut Agama Islam Nasional (IAI-N) Laa Roiba Bogor, Institut Agama Islam (IAI) Sahid Bogor dan Institut Umum Quro Al-Islami (IUQI) Bogor. P-ISSN 2620-2956 E-ISSN 2747-0490.
Articles
1,633 Documents
<![CDATA[Hukum Bisnis Sulam Bedak (Beauty Balm Face Glow) Perspektif Anggota Komisi Fatwa MUI Kota Medan ]]>
<![CDATA[Ilmi Aulia Ismail]]>;
<![CDATA[Imam Yazid]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7331
<![CDATA[Powder embroidery or Beauty Balm (BB) Face Glow is a beauty trend that is increasingly popular in the cosmetics industry. This procedure is carried out by implanting color pigments into the outermost layer of skin using a microneedling technique, resulting in bright and smooth looking skin without the need for daily makeup application. However, from the perspective of Islamic law, this practice is still controversial. This research aims to analyze the law of powder embroidery based on the views of members of the Medan City MUI Fatwa Commission using descriptive-analytical qualitative methods. The results of the research show that powder embroidery is categorized as haram because it resembles tattoos and is included in the practice of changing Allah's creation (QS. An-Nisa: 119). Even though it does not block the ablution water and does not invalidate the prayer, this practice is still prohibited if it is only for aesthetic purposes. From a business aspect, powder embroidery services are also considered impermissible in Islam because they support practices that are contrary to sharia. The clerics emphasized the importance of seeking halal sustenance and appealed to Muslim women to decorate in permitted ways, such as using halal cosmetics that are not permanent.]]>
<![CDATA[Determinants of Audit Delay: Evidence From the Indonesia Stock Exchange ]]>
<![CDATA[Fina Adelia]]>;
<![CDATA[Elvira Luthan]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7333
<![CDATA[The current era, characterized by rapid changes in business dynamics and financial regulations, demands a deep understanding of audit delay. This study aims to empirically test and analyze the effect of audit fees, profitability, audit tenure, audit opinions, and audit committee expertise on audit delay. The sample used was 96 observations consisting of property and real estate sector companies listed on the Indonesia Stock Exchange during 2019 to 2022. Then the data was analyzed using the classical assumption method and multiple linear regression. The results of this study indicate that audit fees and audit tenure do not have a significant effect on audit delay, while profitability, audit opinions, and audit committee expertise have a negative effect on audit delay. This study expands the literature by adding testing on variables that have not been widely studied in the causes of audit delay. The implications of this study are expected to provide more recent insights to companies and professionals regarding several factors that can cause audit delays.]]>
<![CDATA[Analysis of the influence of brand image and religious belief on purchase intention of halal cosmetic products with attitude as an intervening variable ]]>
<![CDATA[Firli Dwi Kusuma Putri]]>;
<![CDATA[Nur Achmad]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7339
<![CDATA[This study analyzes the influence of Brand Image and Religious Belief on Purchase Intention of halal cosmetic products, with Attitude toward Product as a mediating variable. A quantitative approach is employed, utilizing Partial Least Squares (PLS) for data analysis. The study's population comprises Muslim women in Surakarta who use halal-certified cosmetics, with a sample selected through non-probability purposive sampling. Data collection is conducted via questionnaires using a Likert scale (1–5), and Structural Equation Modeling (SEM) with SmartPLS 4.0 is applied for analysis. The results indicate that Brand Image and Religious Belief do not directly impact Purchase Intention. However, both variables significantly influence Attitude toward Product. Furthermore, Attitude toward Product mediates the relationship between Brand Image and Purchase Intention, as well as between Religious Belief and Purchase Intention. Study limitations include a restricted sample size, limited geographic coverage, and the exclusion of other potential independent variables. Future research should expand the sample size, broaden geographic scope, and incorporate additional independent variables to enhance the validity and generalizability of the findings.]]>
<![CDATA[Pengaruh Economic Performance, Leverage, Ukuran Perusahaan, dan Dewan Komisaris Independen terhadap Pengungkapan Corporate Social Responsibility ]]>
<![CDATA[Nabila Putri Dwi Septiani]]>;
<![CDATA[Triyono]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7351
<![CDATA[Corporate Social Responsibility (CSR) is a company's commitment to behave ethically and contribute to economic development, by improving the quality of life of employees, their families, as well as local communities and society at large. CSR aims to create a balance between business interests and concern for the surrounding social environment, so as to build good relationships with the public and stakeholders. This study aims to analyze the effect of Economic Performance, Leverage, Company Size, and Independent Board of Commissioners on Corporate Social Responsibility Disclosure in non-cyclical consumer sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2021-2023. Sampling was carried out using purposive sampling technique. The results of this study indicate that company size has an effect on corporate social responsibility disclosure. Meanwhile, economic performance, leverage, and the independent board of commissioners have no effect on corporate social responsibility disclosure.]]>
<![CDATA[Peran Profitabilitas dalam Memoderasi Kebijakan Deviden dan Struktur Modal Terhadap Nilai Perusahaan: Bukti Negara Asean ]]>
<![CDATA[Dini Fitriyanthi]]>;
<![CDATA[Elvira Luthan]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7358
<![CDATA[ASEAN is one of the fastest growing regions in the world in 2023, but economic growth in this country is likely to decline compared to 2022. This is due to the worsening global economic conditions and monetary policy. This economic growth often has a negative impact on the value of the company, so efforts are needed that can support the company's value to be achieved optimally, one of which is by analyzing the dividend policy and capital structure factors in influencing the firm's value. This study aims to analyze and provide empirical evidence of the influence of dividend policy and capital structure on firm value with profitability as a moderation. This study uses secondary data in the form of financial reports of ASEAN companies listed on the Stock Exchange based on Refinitiv Eikon for 2019-2023. The population of this study is all ASEAN countries, the sample obtained is 2,071 data, 727 companies from 6 ASEAN countries. The results of this study prove that (1) dividend policy has a significant negative effect on firm value (2) capital structure does not have an effect on firm value (3) profitability does not moderate dividend policy on firm value (4) profitability moderates capital structure on firm value. The results of this study provide important insights for companies and investors in making decisions regarding dividend policy and capital structure. Companies need to carefully consider factors such as investment opportunities, profitability, and risk before determining dividend policy and capital structure. Investors also need to conduct a careful analysis of these factors before making investment decisions.]]>
<![CDATA[Strategi Pemasaran Melalui Program Afiliasi Digital ]]>
<![CDATA[Hasirah]]>;
<![CDATA[Lismaryanti]]>;
<![CDATA[Yeni]]>;
<![CDATA[Andi Irwin]]>;
<![CDATA[Nur Azmi Azis]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 2 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i2.7359
<![CDATA[The purpose of this study is to determine the marketing strategy through a digital affiliate program. This research approach collects data through a literature study, which involves reading literature from various sources including books, journals and reports using a qualitative and deductive approach. The findings in this study are that marketing strategies through digital affiliate programs have proven effective in increasing sales, expanding market reach, building trust and credibility, and marketing cost efficiency. In addition, by choosing the right affiliate, providing quality marketing materials, using effective affiliate platforms and networks, offering attractive incentives, and monitoring and analyzing performance regularly, companies can maximize the benefits of this digital affiliate program.]]>
<![CDATA[Pengaruh Perputaran Kas, dan Perputaran Piutang terhadap Profitabilitas pada Perusahaan manufaktur ]]>
<![CDATA[Nur Zarliani Uli]]>;
<![CDATA[Endi Rustendi]]>;
<![CDATA[Dany Luqyana Idris]]>;
<![CDATA[Eva Yuniarti Utami]]>;
<![CDATA[Wiwit Agustina]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 2 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i2.7360
<![CDATA[This study aims to determine the effect of cash turnover and expense turnover on profitability in manufacturing companies. Secondary data used in this study are financial reports of manufacturing companies listed on the IDX for the period 2020-2023. The independent variables in this study are cash turnover and billing turnover, while the dependent variable is profitability. The analysis method used in this study is panel data regression analysis, determination coefficient test (R2), F test and t test. The results of this study are cash turnover and billing turnover simultaneously have a significant effect on profitability. However, in a partial analysis, it shows that cash turnover partially has a significant effect on profitability. While financial turnover partially does not have a significant effect on profitability.]]>
<![CDATA[Analysis of Factors that Influence Muzakki's Decision to Donate to Zakat Institutions: Study in the Muslim Community of Yogyakarta City ]]>
<![CDATA[Sutrisno]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7376
<![CDATA[The aim of this research is to analyze the factors that influence donors' decisions in donating to the Muslim community in Yogyakarta City, This research uses quantitative methods. Sampling in this study used a purposive sampling technique, then data collection was carried out through questionnaires by distributing Google Forms to a total of 200 respondents. Statistical tests use Smart-PLS software version 3.2.9 through outer model and inner model tests. The results of this research prove that service factors do not influence the decision to donate to zakat institutions in Yogyakarta City. The reputation factor does not influence the decision to become a customer of Bank Syariah Indonesia in Batam City. Meanwhile, the religiosity factor influences donors' decisions to donate to zakat institutions in Batam City. Apart from that, the service, reputation, promotion and religiosity factors are based on an R-Square value of 0.70, which means that it influences the donors' decision to donate to zakat institutions in Yogyakarta City by 70%, the rest is influenced by other factors not included in this research.]]>
<![CDATA[Pengaruh Penggunaan Media Sosial dan Pelatihan Kerja Terhadap Kinerja Pegawai dengan Kompensasi Sebagai Mediasi pada Badan Keuangan Daerah Kabupaten Pacitan ]]>
<![CDATA[Alien Dewi Alifah]]>;
<![CDATA[Ahmad Mardalis]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7418
<![CDATA[The purpose of this study was to analyze the effect of Social Media Use and Job Training on Employee Performance with Compensation as a mediator at the Regional Financial Agency of Pacitan Regency. The population of this study were all employees of the regional financial agency of Pacitan Regency with a sample used in this study of 101 respondents adjusted to the probability sampling technique by purposive sampling. This study is a quantitative study using data sources, namely primary data obtained through interviews, observations, and measurements using questionnaires conducted directly by researchers. The analysis tool used is SmartPLS. The results of this study indicate that the conclusions in this study are 1.) there is a positive and significant effect of social media use on employee performance, while there is a negative and insignificant effect of social media use on compensation 2.) there is a positive and significant effect of job training on employee performance and compensation variables 3.) compensation has a significant positive effect on employee performance 4.) the use of social media and job training can be mediated by compensation and affect employee performance]]>
<![CDATA[Pengaruh Penggunaan Media Sosial dan Berkomunikasi Interpersonal Terhadap Kinerja Pegawai dengan Teknologi Informasi sebagai Mediasi pada Sekretariat Daerah Kabupaten Pati ]]>
<![CDATA[Catur Novitasari]]>;
<![CDATA[Ahmad mardalis]]>
<![CDATA[ El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 3 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam ]]>
Publisher : <![CDATA[Intitut Agama Islam Nasional Laa Roiba Bogor ]]>
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DOI: 10.47467/elmal.v6i3.7420
<![CDATA[The purpose of this study was to analyze the effect of Social Media Use, Interpersonal Communication on Employee Performance with Information Technology as a mediator at the Pati Regency Regional Secretariat. The population of this study were all employees of the Pati Regency Regional Secretariat office with a sample used in this study totaling 116 respondents adjusted to the results of the calculation according to the number of question indicators. This study is a quantitative study using data sources, namely primary data obtained by filling out questionnaires distributed directly by researchers. The analysis tool used is SmartPLS. The results of this study indicate that 1.) there is a negative and insignificant effect of social media use on employee performance, while there is a positive and significant effect of social media use on information technology 2.) there is a positive and significant effect of interpersonal communication on information technology and employee performance variables 3.) information technology variables are able to mediate the use of social media on employee performance and mediate interpersonal communication on employee performance with positive and significant results.]]>
