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Jurnal Ekonomi Syariah Teori dan Terapan
Published by Universitas Airlangga
ISSN : 24071935     EISSN : 25021508     DOI : -
Core Subject : Economy,
Jurnal Ekonomi Syariah Teori dan Terapan (JESTT) accepts original manuscripts in the field of Islamics Economics, including research reports, case reports, application of theory, critical studies and literature reviews.
Arjuna Subject : -
Articles 9 Documents
Search results for , issue "Vol. 12 No. 1 (2025): Februari-2025" : 9 Documents clear
The Role of Islamic Macroeconomics and Islamic Finance in Driving Islamic Economic Growth Mutmainah; Romadhon, Muhammad Ryan
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp97-109

Abstract

A country's economic growth is closely related to world economic conditions. Global macroeconomic analysis is measured from 3 indicators, namely the increase in gross domestic product, the level of world trade, and the global inflation rate. The indicators to analyze Islamic economic conditions globally can be seen from the real sector and the financial sector. This research will synthesize into a study that aims to analyze the influence of Islamic macroeconomics and finance on Indonesia's sharia economic growth. By using quarterly time series data in Indonesia for 5 years from 2019 to 2023 and using ECM (Error Correction Model) analysis as a regression model and assisted by the Eviews analysis tool to analyze research data. Research findings reveal that in the short term inflation and Islamic finance have no effect on economic growth, while export and import variables affect economic growth. On the other hand, in the long run exports, imports and Islamic finance affect economic growth while inflation variables do not affect economic growth.
Government Spending, Unemployment, and Islamic Human Development Index: Evidence from Indonesia and Malaysia Tirtayudha, Muhammad Fiqhi; Darwanto
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp1-11

Abstract

This study aims to analyse the effect of government spending and unemployment on the Islamic Human Development Index (IHDI) in Indonesia and Malaysia during the period 2013-2022. This study uses panel data regression method with Common Effect approach to test the relationship between these variables. The results of the analysis show that both government spending and unemployment have a negative and significant influence on the IHDI partially. This finding indicates that government spending, when not managed effectively, can actually hinder the achievement of human development goals in an Islamic perspective. Similarly, high levels of unemployment reduce the ability of individuals to fulfil basic needs which contributes to a decline in the quality of life and well-being of the society. In conclusion, more efficient budget management and unemployment reduction efforts are important factors in improving IHDI in Indonesia and Malaysia.
Audit Report Lag and Its Determinants in Islamic Banks Aqila, Annisa; Filianti, Dian
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp12-28

Abstract

This study aims to determine the effect of the audit committee, namely the size and meeting of the audit committee, audit opinion, company size and KAP reputation on the audit report lag of Islamic commercial banks for the period 2015-2023. The sampling method was carried out using purposive sampling method which resulted in a sample of 8 Islamic commercial banks in Indonesia with a total of 72 data. Based on the results of the research that has been done, it can be concluded that only audit committee size, audit opinion and company size have an effect on audit report lag at Islamic commercial banks, while audit committee meetings and KAP reputation have no effect on audit report lag at Islamic commercial banks. Meanwhile, simultaneously the variables of audit committee size, audit committee meetings, audit opinion, company size and KAP reputation have a significant effect on audit report lag at Islamic Commercial Banks for the period 2015-2023. The limitation of this study is that there are many measurement methods that can be used to calculate the audit committee variable, but this study only measures the size and meetings of the audit committee.
The Role of Green Sukuk in Financing Sustainable Transport and Reducing Emissions Mustofa, Hafidz Zainul; Wahyudi, Amin
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp29-44

Abstract

This study examines how green sukuk, as a sustainable financing tool, can reduce CO2 emissions by financing the sustainable transportation sector in Indonesia. This study uses a qualitative approach and content analysis techniques to investigate the contributions of funds distributed through green sukuk to different green transportation projects. The results show that green sukuk financing for the sustainable transportation sector reached IDR 34 trillion, the largest amount compared to other sectors, such as renewable energy and water management. Financing in this sector has reduced carbon emissions by more than 15 million tonnes from 2018 to 2022. In addition, green sukuk also contributes to achieving SDGs. By offering empirical data on the effects of green sukuk financing in the sustainable transportation sector on lowering CO2 emissions, this study adds to existing literature and emphasises how it helps Indonesia achieve SDGs. This study also identified limitations in data coverage and economic impact that require further exploration. Future research should adopt a more holistic approach and consider external variables that may affect the effectiveness of green sukuk. The government can increase the effectiveness of green sukuk by implementing policies that encourage its development, including providing incentives for investors and integrating smart and green city concepts as strategic steps.
Sectoral Stock Performance During Ramadan: Comparative Evidence from Indonesia Perdana, Yuda Mahesa; Rusgianto, Sulistya
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp45-56

Abstract

This study aims to compare three stock sectors in Indonesia, namely the consumer goods, financial, and transportation sectors during the Ramadan period of 2020-2024, using the Kruskal-Wallis test. The data was taken from the daily closing prices of stocks in the consumer goods, financial, and transportation sectors listed on the ISSI index. The results of this study indicate that there is no significant abnormal return difference among the three stock sectors, with a significance value of 0.482. However, the financial sector showed a positive mean return compared to the other sectors. The limitations of this study lie in the scope of the three sectors and the time period of the research, while the implications suggest that the financial sector can be considered by investors for their portfolios, as it tends to be more stable than the other sectors during Ramadan.
Key Performance Processes in Islamic Hospitals: A Maslahah-Based Analytical Network Process Approach Saputro, Eko Hadi; Firdaus, Achmad
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp57-72

Abstract

This study adopts the Analytic Network Process (ANP) approach, integrating the MUKISI Certification Standards and DSN-MUI Fatwa No. 107 of 2016 to develop key processes based on Maslahah Performa (MaP) in Islamic Hospitals (IH). A qualitative research methodology was employed, utilizing interviews, questionnaires, documentation, and literature reviews to collect data from academics, experts, and practitioners. The results indicate that worship orientation is the highest priority in key processes , with a score of 0.230, followed by internal process orientation,talent, learning, customer, and wealth, each with a score of 0.153. These findings underscore the critical role of integrating spiritual values into IH governance to enhance competitive advantage, deliver comprehensive healthcare services, and contribute to the strengthening of the halal ecosystem in the healthcare sector. The implications of this model are expected to provide practical guidance for improving the sustainable performance of IH. Additionally, it offers a foundation for further academic research aimed at developing more comprehensive studies in this field.
Stock Market Reaction to Corporate Sukuk Issuance: Evidence from Indonesia Aisy, Fathiya Nimatul; Fianto, Bayu Arie
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp73-85

Abstract

This study aims to examine the reaction of the Indonesian stock market to sukuk issuances over an 11-year period from January 2013 to December 2023. The quantitative approach is employed using an event study and market model, with the Indonesia Sharia Stock Index (ISSI) as the benchmark. This study analyzes market reactions using average abnormal returns and average trading volume activity as variables. The results show that there is a market reaction around the sukuk issuance date, with a significant negative average abnormal return in periods t-7, t+2, and t+4. Furthermore, there is no significant difference in average abnormal returns and average trading volume activity before and after the sukuk issuance. The average abnormal return and average trading volume activity of each company also show no significant difference before and after the sukuk issuance, except for the average trading volume activity of companies TINS and INKP in the basic materials sector. These findings indicate a significant negative reaction to sukuk issuances. This result contradicts previous literature that states a significant market reaction, either positive or negative. The insignificance of these results seems to be caused by investor perceptions of sukuk issuances in Indonesia.
The Moderating Role of Environmental Knowledge in Green Halal Cosmetic Purchase Intentions Herianto; Wardani, Tri Ulfa; Purnamasari, Dian Septi; Haslindah
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20251pp86-96

Abstract

The purpose of this study was to identify and analyze the purchase intention of environmentally friendly halal cosmetic products by millennial Muslim generations in Indonesia moderated by knowledge of the environment. This study used a quantitative approach, data were obtained by distributing questionnaires (google form) through WhatsApp and Instagram social media, sampling using a perceptive sampling technique, the number of respondents was 115 people with the withdrawal of the younger generation of women and men aged 15-30 years and living in Indonesia. The research model uses the structural equation modeling–partial least structural (SEM) model with the help of Smart-PLS 3 statistical software analysis. The findings of this study indicate that self-efficacy influences attitudes, eco-label influences halal-green awareness, normative belief variables influences on subjective norms, perceptual behavioral control influences the intention to consume environmentally friendly halal. Furthermore, the presence of environmental knowledge as a moderating variable indicates that this variable does not have a moderating effect on the relationship between attitude variables, green-halal awareness and subjective norms with the intention to consume environmentally friendly halal. However, these variables have a significant direct effect on the intention to consume environmentally friendly halal. This study is one of the comprehensive research on the intention to buy environmentally friendly halal products.
Journal Cover Vol 12, No 1 (2025) Journal Cover
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 1 (2025): Februari-2025
Publisher : Universitas Airlangga

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Abstract

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