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INDONESIA
Jurnal Ekonomi dan Bisnis Islam
Published by Universitas Airlangga
ISSN : 24426563     EISSN : 25273027     DOI : -
Core Subject : Economy,
Journal of Economics and Business Islamic (JEBIS) accepts original manuscripts in the field of Islamics Economics, including research reports, case reports, application of theory, critical studies and literature reviews. The spread of Islamic Economics include: 1. Islamic Finance and Capital Market 2. Islamic Banking 3. Management of Islamic Business and Entrepenuership 4. Islamic Financial Institution non Bank
Arjuna Subject : -
Articles 187 Documents
HYGIENE FROM THE HEART: THE RISE OF SHARIA COMPLIANT HOTEL IN INDONESIA AFTER COVID-19 PANDEMIC Noveri Maulana; Restia Oktaviaman; Yasmine Farah
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 6 No. 2 (2020): JULY-DECEMBER 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v6i2.21958

Abstract

The development of Sharia-compliant hotel (SCH) in Indonesia is rapidly growing since 2012. However, the COVID-19 pandemic has changed the business development of SCH and in the Halal Tourism Industry. This paper aims to develop an alternative strategy for SCH to rebuild the market after the pandemic situation. This research is specified the marketing strategy to attract domestic tourist, especially Muslim tourist to prefer Sharia-compliant hotel in their travelling destinations. As the primary object of the research, this paper is using a well-known sharia hotel in Jakarta as the single case study analysis. Mix method approach is implemented in this study, which used quantitative and qualitative data. All the data are formulated in Threat, Opportunity, Weakness, Strength (TOWS) Matrix. The result of strategy formulation in the matrix will produce several alternatives of marketing strategy, which might be implemented by the SCH management in Indonesia. Survey was conducted before the COVID-19 pandemic to 197 respondents to evaluate the service quality and the decision-making process of the consumer towards SCH in Jakarta. In-depth interview and focus group discussion (FGD) were conducted with the board of directors to follow up the survey and to implement internal validity with the hotel management. Documents review and observation were also implemented. Based on strategy formulation in TOWS Matrix, this research is proposed three strategic marketing programs which could be implemented by Sharia Compliance Hotel toward the new adaptation era after the pandemic. Those strategies are discussed in the result analysis.
THE CONTRIBUTION INCOME, INVESTMENT RESULTS, AND CLAIM EXPENSES ON SHARIA LIFE INSURANCE INCOME Laila Mardiyah Nainggolan; Andri Soemitra
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 6 No. 2 (2020): JULY-DECEMBER 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v6i2.21734

Abstract

This study aims to examine the effect of Contribution Income Investment Results and Claim Expenses on Sharia Life Insurance Profits in Indonesia for the 2012-2019 period. This research is a quantitative study with secondary data in the form of Islamic financial reports and the sample selection using purposive sampling. The amount of data is 13 companies with eight years of observation to obtain 104 observational data which are sampled in this study. The technique used is panel data regression analysis technique, with analysis of hypothesis testing, namely the t test and F test. The results show that contribution income partially affects the profit of Islamic life insurance, the investment results also affects the profit of Islamic life insurance, if the fund invested are large, the investment returns will be large so that the profit will be high. Furthermore, claim expense partially affects the profit of sharia life insurance, the claims will reduce the amount of funds to be invested by the company, at the end it reduces the company’s profit. Based on F test, all variables simultaneously influence the profit of Islamic life insurance. The suggestion is that, in order to increase the profitability of Islamic insurance, the company Islamic insurance needs to consider the investment process, also to increase the underwriter analysis to mitigate the excess of expenses from claims.
INFLATION, BI 7 DAYS REPO RATE, AND JAKARTA COMPOSITE INDEX ON NET ASSET VALUE OF SHARIA MUTUAL FUND Happy Irma Riyanti Prabowo; Nana Diana
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.24983

Abstract

This research purposed to examine the effect of inflation, BI 7 Days Repo Rate (BI7DRR), and Jakarta Composite Index on the net asset value of sharia mutual fund. The method used is the descriptive and derivative method with a quantitative approach, with multiple linear regression analysis to find the relationship between the variables. This study uses purposive sampling as the sampling technique, which is the sharia mutual fund registered in the Financial Services Authority of Indonesia. This research observed the variables in the period of 2016 to 2020 with monthly time series from secondary data. The findings result that partially, inflation has significant effect with negative direction on the net asset value of sharia mutual fund, while the BI7DRR and Jakarta Composite Index has insiginificant impact on the net asset value of sharia mutual fund. This result shows the investment behavior by investor where the inflation rate becomes a consideration whether to put their fund in investment, especially sharia mutual fund or more concern on their consumption. On the other side, the value of BI7DRR and the Jakarta Composite Index does not become investor’s consideration to investing in sharia mutual fund. For simultaneous effect, inflation, BI7DRR, and Jakarta Composite Index have a significant effect on the net asset value of sharia mutual fund for 66%, which shows that the combined economic situation consisting of these factors can affect the movement of the net asset value of sharia mutual fund with a possibility of 66%, while 34% of the possibility left can be affected by variables outside this research.
THE PRE-MERGER EFFICIENCY OF BANKS: EVIDENCE IN INDONESIA STATE-OWNED ISLAMIC BANKS Atika Ayuning Tyas; Aam Slamet Rusydiana
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.23319

Abstract

In an effort to improve the development of the sharia economy in Indonesia, the Ministry of State-Owned Enterprises (BUMN) has decided to carry out a merger of BRI Syariah, Bank Syariah Mandiri, and BNI Syariah becomes Bank Syariah Indonesia. This merger plan is implemented to increase the share of the Islamic banking market so that it can compete with conventional banking. In order to be able to compete with conventional banking, Islamic banks must be able to have efficient performance and high productivity. This research is a quantitative study to analyze and compare the performance efficiency of BRISyariah, Bank Syariah Mandiri, and BNISyariah with the performance efficiency of ten conventional banks for the 2016-2019 periods using the Data Envelopment Analysis (DEA) method with five analysis models to obtain various considerations in preparing the merger plan. The estimation results show that if the three Islamic banks are merged, they will have inefficient performance with an efficiency score of 0.86. On the other hand, if only two Islamic banks are merged, namely BNISyariah and BRISyariah, it will produce perfect efficiency values.
ACCELERATION AND STRENGTHENING OF SHARIA FINANCIAL INCLUSION THROUGH MERGING SHARIA BANKING IN INDONESIA Syarifuddin Syarifuddin; Ega Rusanti; Mega Octaviany; Abdurrahman Mansyur
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.24998

Abstract

Islamic banking in Indonesia is slowly experiencing significant developments both in terms of number of assets and its financial performance. On the other hand, the market share was only able to grow by 6.18 percent with grow rate less than 5 percent. Therefore, one of the strategies to increase and accelerate the growth of Islamic banking is through a merger. The purpose of this study is to provide an overview of the potential development of Islamic banking after the merger as an effort to strengthen the inclusion and acceleration of Islamic finance in Indonesia. The method used is in the form of a systematic analysis review by collecting various secondary data and then conducting a quality assessment to obtain in-depth research objectives. The results found through content analysis indicate that the merger strategy provided added value to the banking industry through greater market expansion, increased cost efficiency, financial performance, and lowering prices, to meet the public need for sharia-based financial services. Through a merger strategy, Islamic banking is able to become a new pillar of national economic strength and encourage Indonesia to become the center of the world on Islamic finance.
STUDY OF FRAUD TENDENCY: THE ROLE OF UNETHICAL BEHAVIORS AS MEDIATION Siti Hamidah; Reskino Reskino
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.23554

Abstract

Islamic banking and Islamic insurance are institutions that are trusted by the public that play an important role in the economy that should uphold Islamic values. But in fact, there are still many cases of fraud that occur in Islamic banking and Islamic insurance. This study aims to examine the determinant factor fraud tendency with the role of unethical behavior as mediation. The sample used is the financial staff of Islamic banking and Islamic insurance in DKI Jakarta as many as 118 respondents. The data analysis method used in this research is Partial Least Square (PLS-SEM). The results of this study indicate that the implementation of good corporate governance (GCG) practice has a significant effect on unethical behavior, but conformity compensation does not have a significant effect on unethical behavior. Conformity compensation, implementation of GCG practice, and unethical behavior has a significant effect on the fraud tendency. Furthermore, the implementation of GCG practice has a significant effect on fraud tendency through unethical behavior, but conformity compensation has no significant effect on fraud tendency through unethical behavior.
CARBON EMISSIONS DISCLOSURE AND FIRM VALUE: DOES ENVIRONMENTAL PERFORMANCE MODERATE THIS RELATIONSHIP? Mohammad Hardiyansah; Aisa Tri Agustini
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.24463

Abstract

The objectives of this research is to examine the role of environmental performance in the relation between carbon emissions disclosure and firm value. A measurement tool using content analysis method to measure carbon emissions disclosure that adopts a checklist from the Carbon Disclosure Project (CDP). Firm value is proxies with Tobin's Q, while environmental performance is assessed based on the results of the environmental management performance appraisal program (PROPER). Sample of this study using 34 companies that listed on the Indonesian Sharia Stock Index (ISSI) from 2014 to 2019. Moderated regression analysis (MRA) is used to test the hypothesis. The results indicate the carbon emissions disclosure has a positive and significant effect on firm value. This research also found that there is an evidence that environmental performance can strengthen the relation of carbon emissions disclosure to firm value, due to the company's efforts by participating in the PROPER program is a form of corporate responsibility in an effort to reduce the impact of environmental damage arising from the company's operational activities which have been responded positively by investors.
MACROECONOMIC FACTORS ON NON-PERFORMING FINANCING IN INDONESIAN ISLAMIC BANK: ERROR CORRECTION MODEL APPROACH Cyntia Ikramina; Puji Sucia Sukmaningrum
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.23647

Abstract

Non-performing Financing (NPF) is a ratio to measure the non-performing finance level in Islamic banks and one indicator of Islamic banking's health. The higher NPF indicates the quality of the bank's financing was terrible. This study aims to determine several macroeconomic factors on the NPF ratio in Islamic commercial banks in Indonesia. This study applies Error Correction Model (ECM) with saturated sample methods. Sources of data from the official websites of the Financial Authority Services (OJK), Bank Indonesia (BI), and Indonesia Statistics Bureau (BPS). The sample used was Islamic commercial banks in all periods starting from January 2014 to February 2020 published in Islamic banking statistics. There are 74 Islamic commercial banks as observations. The results of this study are pretty surprising. In the short term, macroeconomic variables influence the NPF ratio in Islamic banks, while only inflation affects the NPF for a long time. The government needs to be more able to control when giving policies to increase inflation due to the impact of problematic Financing in Islamic banking. If it occurs continuously, the bank will threaten with bankruptcy. For the Islamic banking industry, we hoped that it could be wiser in placing the liquidity owned, especially when it comes to giving the financing, must carefully look at the customer's portfolio. This study provides comprehensive information on the macroeconomic impact on non-performing financing, specifically on Islamic banks in Indonesia.
RISK OF RETURN CHARACTERISTICS OF ISLAMIC BANK FINANCING PORTFOLIO IN INDONESIA Zamzam Habibi; Sulistya Rusgianto
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.24571

Abstract

The study aims to investigate the risk of return characteristics of Islamic bank financing portfolios. A quantitative approach of value at risk is used to estimate return volatility of Islamic commercial banks and Islamic business units in Indonesia for the period of May 2014 to June 2020. The finding suggests proportion of equity-based financing tends to increase in contrast to decreasing of debt and lease-based financing. While rate of return for all financing types tends to decline, the return of equity-based financing experiences higher volatility than other two financing types. The main finding regarding the decrease in value at risk indicates Islamic banks able to reduce risk of financing portfolio. The finding implies Islamic banks should continue to improve the best-practice of risk management based on their past experience to anticipate future risk. As for the regulators, the finding may be used to develop early warning system to anticipate a systemic failure in Islamic banking industry. Further research is recommended to explore impact of market behavior on the risk of each type of financing.
REACTION OF ISLAMIC STOCK MARKET TO MACROECONOMIC VARIABLES: A STUDY OF INDIA AND INDONESIA Mohammad Irfan; Salina Kassim; Sonali Dhimmar; Mohd Zahid; Nasrul Fahmi Zaki Fuadi
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 7 No. 1 (2021): JANUARY-JUNE 2021
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v7i1.25921

Abstract

India and Indonesia are among the world-largest democracies, having a strong international presence through involvement in various economic and intergovernmental organizations such as in the E7 countries and G20 countries groups. This study aims to identify the impact of macroeconomic variables on the Islamic stock markets of India and Indonesia. Two Islamic stock market indices are considered: the Indian Bombay Stock Exchange (BSE) Shariah Index and the Indonesian Jakarta Islamic Index (JII). At the same time, the macroeconomic variables are foreign direct investment (FDI), import, export, gross domestic product (GDP), broad money (M3), and exchange rate (ER). The study adopts panel regression analysis on yearly data covering the period from 2011 to 2020. The pooled OLS regression model, fixed effect regression model (FEM), and random effect regression model (REM) have been employed. With the REM model being suggested as the most suitable model through the Hausman test, the results suggest that FDI, export, GDP, and ER have shown positive and statistically significant influence on both the BSE Shariah and JII. It is also shown that the macroeconomic variables of India and Indonesia are heterogeneities in nature and having mean distribution effects. The study’s findings suggest that increasing the possibilities of bilateral trade and investment in the sectors such as health and pharmaceuticals, automotive components, information technology, agro products, and tourism between India and Indonesia will go a long way. It is expediting greater economic activities among these two countries.

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