cover
Contact Name
Dhita Febyanti
Contact Email
editor@ijefm.co.in
Phone
+6281315458523
Journal Mail Official
editor@ijefm.co.in
Editorial Address
Jl. Raya Pemda Pajeleran Sukahati No. 41 Cibinong, Bogor. 16913
Location
Kab. gresik,
Jawa timur
INDONESIA
Journal of Ekonomics, Finance, and Management Studies
ISSN : 26202956     EISSN : 27470490     DOI : https://doi.org/10.47467/elmal.v5i12
Core Subject : Religion, Economy,
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
Hubungan Kepemimpinan, Disiplin Kerja dan Lingkungan Kerja Terhadap Kepuasan Kerja Karyawan di PT. Lima Dara Balikpapan Muhamad Noval; Didik Hadiyatno; Rahajeng Cahyaning Putri Cipto
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8243

Abstract

The purpose of this study is to find out the Influence of Leadership, Work Discipline, and Employee Work Environment at PT. Lima Dara Balikpapan. The type of research used is Quantitative research. The sampling technique in this study is saturated/census sampling with a sample of 50 employees of PT.Lima Dara Balikpapan. The data collection method was carried out by distributing questionnaires. This study uses SmartPLS in managing data. The results of this study show that leadership variables have a positive and significant effect on employee job satisfaction at PT. Lima Dara Balikpapan, the Work Discipline variable has a positive and significant effect on employee job satisfaction at PT. Lima Dara Balikpapan, and the variables of the Work Environment have a positive and significant effect on job satisfaction at PT. Lima Dara Balikpapan.
Perlindungan Konsumen Terhadap Peredaran Rokok Ilegal Perspektif Ibnu Taimiyah di Kecamatan Berampu Kabupaten Dairi Adzan Fikri Kabeakan; Sahliah
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8253

Abstract

The circulation of illegal cigarettes in Berampu has become a significant issue, negatively impacting state revenues and public health. Illegal cigarettes that do not meet excise standards cause substantial economic losses and place consumers at risk due to unregulated product quality. This article analyzes consumer protection against the circulation of illegal cigarettes from the perspective of positive law and the teachings of Ibn Taymiyyah. Through a normative approach, this study highlights the importance of enforcing excise regulations as a consumer protection instrument and the relevance of principles of justice in trade transactions according to Ibn Taymiyyah. Ibn Taymiyyah emphasizes the importance of transparency, honesty, and justice in trade, aligning with modern regulatory objectives to protect consumers from fraud and harmful products. The study concludes that consumer protection from illegal cigarettes must involve synergy between strict law enforcement, public education, and the application of strong moral values as outlined in Islamic teachings. This synergy is expected to provide a comprehensive solution in efforts to curb the circulation of illegal cigarettes in Indonesia.
Analisis Kinerja Keuangan Terhadap Harga Saham Emiten Sektor Transportasi Logistik 2021-2023 Nurul Arum Puspita; Rudi Kurniawan Lenni Yovita; Pradana Jati Kusuma
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8262

Abstract

This research aims to analyze the impact of financial performance on stock price movements of transportation and logistics companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. The financial performance variables examined include Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Equity Ratio (DER), and Earnings Per Share (EPS). The study selected 10 companies with the largest total assets using purposive sampling. Data were obtained from quarterly financial reports and the closing stock prices at the end of each trading period. The analysis employed multiple linear regression along with classical assumption tests. The results indicate that EPS, NPM, ROE, and ROA each have a significant positive effect on stock prices, while DER shows a negative but not statistically significant relationship. Overall, the independent variables significantly influence stock prices simultaneously, as reflected by an Adjusted R² of 84.3%.
Manajemen Pelayanan Haji dalam Peningkatan Kepuasan Jamaah Haji di Kantor Kementerian Agama Kabupaten Malang Ula Masrurotuz Zahro; Samsul Susilawati; Muh Hambali
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 7 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i7.8263

Abstract

This study examines the management of hajj services and its role in improving the satisfaction of hajj pilgrims at the Office of the Ministry of Religious Affairs of Malang Regency, which aims to evaluate the management of hajj services and the satisfaction of hajj pilgrims at the Office of the Ministry of Religious Affairs of Malang Regency. The type of research used is qualitative research with a phenomenological approach. Through this approach, which is intended to explain the existing conditions and problems in the environment of the Office of the Ministry of Religious Affairs of Malang Regency, this study evaluates current service management practices and identifies the main factors that contribute to the satisfaction of hajj pilgrims. The subjects of this study were hajj pilgrims who had performed the hajj and received services from the Office of the Ministry of Religious Affairs of Malang Regency. Data were collected using surveys, interviews, and observational studies involving hajj pilgrims and office staff. The findings of the study revealed that effective service management significantly improves various aspects of the hajj experience, especially in areas such as transportation logistics, accommodation quality, and administrative efficiency. This study underscores the need for continuous assessment of service management strategies to align with the evolving needs and expectations of pilgrims. By emphasizing a collaborative approach to service delivery, the study highlights the importance of better resource allocation, proactive problem solving, and integration of advanced technologies to improve service efficiency. The study’s insights provide valuable recommendations for policymakers and practitioners seeking to improve Hajj service standards and, as a result, overall pilgrim satisfaction. This study contributes to a deeper understanding of how optimized service management can transform the Hajj experience. By addressing key areas for improvement and adopting a responsive and pilgrim-centered approach, the Ministry of Religious Affairs Office in Malang Regency can ensure a more fulfilling and spiritually satisfying Hajj journey for pilgrims. The implications of this study extend beyond the local context, offering valuable lessons for Hajj service providers globally in their efforts to improve pilgrim satisfaction and service quality.  
Analisis Pengaruh ROA, CR, dan Sales Growth (SG) Terhadap Financial Distress pada Perusahaan Sub Sektor Pariwisata dan Rekreasi di BEI Selama Masa Pemulihan Pasca-Covid-19 (2022–2024) Bella Putri Mahadewi; Tutut Dewi Astuti
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8266

Abstract

This study aims to analyze the effect of Return on Assets, Current Ratio, and Sales Growth on financial distress in companies in the tourism and recreation sub-sector listed on the Indonesia Stock Exchange during the post-COVID-19 recovery period (2022–2024).This research uses a quantitative approach with a purposive sampling technique. The final sample consists of 75 observational data. The data analysis method used in this study is logistic regression analysis using IBM SPSS version 24. Originality/Novelty: The novelty of this research lies in its analytical focus on the tourism and recreation sector during the post-pandemic recovery period of 2022–2024, which has been relatively underexplored empirically. This study also integrates three key financial indicators to predict financial distress conditions. The results indicate that Return on Assets (ROA) and Sales Growth (SG) have no significant effect on financial distress. Meanwhile, Current Ratio (CR) partially has a significant effect. Simultaneously, ROA, CR, and SG have a significant effect on financial distress.: These findings indicate the importance of liquidity in maintaining corporate financial stability during the post-pandemic period and provide a reference for corporate management and investors in more accurately identifying distress risks
Hubungan Motivasi, Lingkungan kerja, dan Kompensasi Terhadap Kepuasaan Kerja Karyawan PT Karya Bersama Anugerah, Tbk Balikpapan Cindy Crawford Kilapong; Didik Hadiyatno; Rahajeng Cahyaning Putri Cipto
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8276

Abstract

This study aims to analyze the effect of Return on Assets, Current Ratio, and Sales Growth on financial distress in companies in the tourism and recreation sub-sector listed on the Indonesia Stock Exchange during the post-COVID-19 recovery period (2022–2024).This research uses a quantitative approach with a purposive sampling technique. The final sample consists of 75 observational data. The data analysis method used in this study is logistic regression analysis using IBM SPSS version 24. Originality/Novelty: The novelty of this research lies in its analytical focus on the tourism and recreation sector during the post-pandemic recovery period of 2022–2024, which has been relatively underexplored empirically. This study also integrates three key financial indicators to predict financial distress conditions. The results indicate that Return on Assets (ROA) and Sales Growth (SG) have no significant effect on financial distress. Meanwhile, Current Ratio (CR) partially has a significant effect. Simultaneously, ROA, CR, and SG have a significant effect on financial distress.: These findings indicate the importance of liquidity in maintaining corporate financial stability during the post-pandemic period and provide a reference for corporate management and investors in more accurately identifying distress risks
Kepuasan Kerja Dipengaruhi oleh Kompensasi, Motivasi dan Disiplin Kerja pada Karyawan PT. Sukses Bersama Akmal Brian Leonardo Oslan; Syahril Hasan; Tutik Yuliani
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8344

Abstract

The purpose of this study was to determine the effect of Compensation, Motivation, and Work Discipline on Employee Job Satisfaction at PT. Sukses Bersama Akmal. The type of research used is quantitative research. The sampling technique in this study is purposive sampling with the number of employee population, so only a portion of the sample is taken to represent the population of PT. Sukses Bersama Akmal, which is 65 permanent employees. The data collection method is carried out by distributing questionnaires. This study uses multiple linear regression with the help of SmartPLS in processing data. The results of this study indicate that the variables of compensation, motivation and work discipline have an influence on employee job satisfaction at PT. Sukses Bersama Akmal.
Pengaruh Social Media Marketing, Brand Ambassador dan Electronic Word of Mouth Terhadap Keputusan Pembelian pada Produk Jiniso Ikrimah Rahmaniyah; Elok Vilantika
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8349

Abstract

Purchase decisions play an important role in the success of marketing and selling a brand's products, one of which is the Jiniso fashion brand. The study aims to analyze the influence of social media marketing, brand ambassadors, and electronic word of mouth on purchasing decisions. The research method used is quantitative with the Partial Least Squares-Structural Equation Modeling approach. The sample of this study was one hundred and sixty respondents with a purposive sampling technique. The results of the study show that each variable has a significant influence on purchasing decisions. This study concludes that an active and consistent presence on social media platforms such as Instagram, TikTok, and e-commerce such as Shopee allows brands to build engagement with their followers. Through uploading relevant content supported by positive product reviews by consumers, seasonal promotional campaigns demonstrated by brand ambassadors are able to create a strong foundation for a brand's image and encourage purchasing decisions for Jiniso fashion products. These findings are expected to be a consideration for companies in designing more appropriate and efficient marketing strategies in the digital era in order to improve purchasing decisions and company competitiveness.
Pengaruh Urbanisasi, Keterbukaan Perdagangan, Pertumbuhan Ekonomi, dan Pendidikan terhadap Konsumsi Energi Terbarukan di ASEAN-5 Nurul Sa'adah; Amelia Choya Tia Rosalia
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8411

Abstract

Reducing dependence on fossil fuels has become a global urgency in response to climate change. Renewable energy is seen as a sustainable alternative, but the social and economic determinants that influence its consumption in developing countries, particularly in ASEAN, have not yet been fully explored. This study aims to analyze the influence of urbanization, trade openness, economic growth, and education on renewable energy consumption in five ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) during the period 1990–2021. Secondary data were obtained from the World Bank and UNDP and analyzed using a quantitative approach through panel data regression with Fixed Effect Model (FEM) approach using EViews 12 software. The estimation results show that urbanization has a positive and significant effect, where a 1% increase in urbanization increases renewable energy consumption by 0.33%. Conversely, trade openness and economic growth exhibit negative and significant effects; a 1% increase in each reduces renewable energy consumption by 0.10% and 11.95%, respectively. Education, although negatively oriented, does not show a significant effect. These findings confirm that urban dynamics can accelerate the adoption of clean energy technologies through systemic efficiency and infrastructure modernization, while the current orientation of economic growth and trade does not yet support the energy transition agenda in the region. This study provides important policy implications, particularly the need to reformulate low-carbon economic development strategies, optimize the potential of urbanization, and integrate energy education into long-term policies to strengthen renewable energy consumption in ASEAN-5.
Build Connections: Politics and Tax Aggressiveness in the Construction Sector Diarany Sucahyati; Vicky Vendy; Condro Widodo
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8502

Abstract

ABSTRACT. This study aims to examine the relationship between political connections and tax aggressiveness in 461 construction sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period, using multiple linear regression analysis. The findings reveal that politically connected firms in the construction sector exhibit higher levels of tax aggressiveness. This suggests that protection from political affiliates provides these companies with greater flexibility in formulating aggressive tax strategies. The study focuses on the construction sector due to its close linkage with government policies, particularly in project procurement and tender processes. Therefore, this research seeks to specifically assess the impact of political connections on companies operating in a business sector that is highly sensitive to government policy interventions. Keywords: political connections, tax aggressiveness, construction sector, tax avoidance. ABSTRAK. Penelitian ini bertujuan untuk menguji hubungan koneksi politik terhadap agresivitas pajak pada 461 perusahaan sektor konstruksi yang terdaftar di Bursa Efek Indonesia selama periode 2019–2023 menggunakan regresi linier berganda. Penelitian ini menemukan bahwa perusahaan terkoneksi politik yang berada di sektor konstruksi memiliki agresivitas pajak yang tinggi. Temuan ini mengindikasikan bahwa perlindungan dari pihak terkoneksi politik memberikan keleluasaan bagi perusahaan dalam menyusun strategi perpajakan yang agresif. Penelitian ini berfokus pada sektor konstruksi karena sektor ini memiliki keterkaitan erat dengan kebijakan pemerintah, terutama dalam proses pengadaan proyek dan pemenangan tender. Oleh karena itu, penelitian ini bertujuan untuk mengkaji secara lebih spesifik dampak koneksi politik terhadap perusahaan yang berada dalam sektor bisnis yang sensitif terhadap intervensi kebijakan pemerintah. Kata kunci: koneksi politik, agresivitas pajak, sektor konstruksi, penghindaran pajak.

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