cover
Contact Name
Deni Eko Saputro
Contact Email
061002218@uii.ac.id
Phone
+62748-81546
Journal Mail Official
editor.ajim@gmail.com
Editorial Address
P3EI-Center for Islamic Economics Studies and Development (Pusat Pengkajian dan Pengembangan Ekonomi Islam) Faculty of Business & Economics, Universitas Islam Indonesia Prawiro Kuat Street, Ringroad Utara, Condongcatur, Depok, Sleman, Yogyakarta, Indonesia, 55283 Phone: +6274881546; Fax: +6274882589
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM)
ISSN : 27460037     EISSN : 27222330     DOI : http://dx.doi.org/10.20885/AJIM
The Asian Journal of Islamic Management (AJIM) is a peer-review journal publishes quality and in-depth analysis on current issues within Asia and Islamic management topics. The journal publishes twice a year every June and December. AJIM welcomes strong and original evidence-based empirical studies on the aspect of Islamic management in the Asia context. The journal is open-accessed for scholarly readers. The following are suggested areas of interest, but not limited to: Marketing of Islamic financial products and services Halal supply chain and operations management Halal tourism and hospitality management Halal foods, beverages, cosmetics, pharmaceuticals, toiletries Muslim consumer behavior, segmentation, targeting, positioning Religiosity of consumers, employees, leaders, managers, suppliers Islamic codes of conduct and ethics in management Islamic leadership and followership, leader-member relations Takaful, zakah (charity) and waqf management Riba, gharar, maisir Islam, technology and management Digital marketing, financial technology, e-recruitment Islam, competition, coopetition and strategic management Islam, cross-culture and management Value chain management and customer satisfaction Islamic lean manufacturing, and operations
Articles 6 Documents
Search results for , issue "VOLUME 3 ISSUE 2, 2021" : 6 Documents clear
The reality on the ground – placing Indonesian halal cosmetics onto the international pedestal Helma Malini; Benedict Valentine Arulanandam; Rizqi Maghribi
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol3.iss2.art1

Abstract

Purpose: The global halal industry has been making ground over the past decade in every sector of the worldwide economy. Indonesia is not left out in progress, considering its vast potential to develop the halal industry. This empirical study narrows down to the influence of halal labeling in the cosmetic industry as an export driver towards the economy of Indonesia.Methodology: This study undertakes a mixed-method approach drawing on quantitative and qualitative data. An in-depth face-to-face interview (with social distancing) was held using an interview guide, coupled with a survey questionnaire targeting regulators and manufacturers.Findings: The findings proved that halal certification, cosmetic quality, and brand image simultaneously affect buying decisions of cosmetics. Meanwhile, the Majelis Ulama Indonesia (MUI) recommends that cosmetics from Indonesia have a great opportunity to export. However, based on the results of interviews with cosmetic companies, they do not understand the concept of Maqashid al Syariah financing, which can integrate with the concept of halal products. Lastly, the cost of halal certification sometimes still burdens small-scale cosmetic companies, so support from the government is needed to encourage them to join the halal certification program.Originality: The research findings are helpful for the industry and regulators to address the export capabilities of Indonesian cosmetics. It provides an insight into the challenges and practical hindrances within the industry.
The influence of Bank Syariah Indonesia's brand logo on brand image: comparison between brand personality and halal brand personality Anya Safira; Mohammad Anugerah Amiluhur
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ajim.vol3.iss2.art2

Abstract

Purpose: The main purpose of this study is to investigate the effect of the brand logo on brand image, with the mediation of brand personality and brand familiarity.Methodology: Questionnaires were distributed online to users of Bank Syariah Indonesia throughout Indonesia and obtained data from 294 respondents that can be processed. The data processing method used was structural equation modeling.Findings: This study found an indirect positive influence between brand logo and brand image with the mediation of brand personality and brand familiarity. Although the Bank Syariah Indonesia brand logo has a positive effect on halal brand personality, halal brand personality does not mediate the relationship between the brand logo and the brand image of Bank Syariah Indonesia.Originality: This originality offered by this research is by comparing the constructs of brand personality with halal brand personality.Research limitations: Limitations of this research include uneven distribution of respondents and limited previous literature regarding halal brand personality.Practical implications: The findings of this research can provide insights for Islamic banks, especially Bank Syariah Indonesia, to develop their communication and branding strategies.
Do religiosity, halal knowledge, and halal certification affect Muslim students' intention to purchase halal packaged food? Arya Bagus Wirakurnia; Ponchanok Nuanmark; Heri Sudarsono; Arga Ramadhana
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ajim.vol3.iss2.art3

Abstract

Purpose: This study aims to analyze the factors that influence the intention of Muslim students in purchasing halal packaged food.Methodology: This study uses the variables of religiosity, halal knowledge, halal certification, brand, attitude, subjective norm, and perceived behavior control. The sample of this research is 239 respondents who live in West Java, Central Java, and East Java. The partial least squares structural equation model (PLS-SEM) method was used to process the research data.Findings: Halal label variables, religiosity, attitudes, subjective norms, and perceived control have a positive effect on Muslim students' intention in purchasing halal packaged food. While the variables of halal knowledge and brand image do not affect the intention in purchasing halal packaged food.Originality: Halal packaged food companies need to develop promotions of halal packaged foods that highlight Islamic nuances, including more elegant and modern Islamic symbols. Besides, the promotion is directed at efforts to reinforce the image that halal packaged food is not only individual food but also family food and Muslim student groups/organizations.
Forecasting of Jakarta Islamic Index (JII) returns using Holt-Winters family models Regi Muzio Ponziani
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol3.iss2.art4

Abstract

Purpose: This research aims to forecast JII returns by employing various Holt-Winters models. The models used in this research are Holt-Winters seasonality, Holt-Winters damped method, and Holt-Winters with maximum likelihood approach. Holt-Winters model is capable of recognizing and modeling trends and seasonality. Therefore, it is suitable for forecasting purposes.Methodology: Three models are employed in this research. The first one is Holt-Winters seasonality, also known as triple exponential smoothing. This model analyzes the level, trend, and seasonality components in the return series. The second model is the Holt-Winters damped method that uses smoothing parameters to lower the overstatement effect that usually occurs within Holt-Winters seasonality. The third model is Holt-Winters with Maximum Likelihood. Holt-Winters seasonality estimates parameters by choosing the least-squares. At the same time, Holt-Winters with Maximum Likelihood uses maximum likelihood to fit in the series with certain distributions and generate forecasts by determining distributions with the most likelihood.Findings: The result showed that Holt-Winters seasonality forecasts better than the other methods. The model could recognize the seasonal pattern and trend of the JII returns. It has the lowest Root Mean Squared Error (RMSE) as the parameter for forecast accuracy. Holt-Winters damped method has accuracy right below Holt-Winters seasonality. It can also map the pattern and trend of the returns. Holt-Winters with Maximum likelihood predicts less accurately. However, it can recognize the random walk inclination of the return, although it failed to generate the seasonal pattern and trend of the JII returns.Originality: This research attempted to apply Holt-Winters models to predict JII returns. Most research concerning the Islamic stock index focuses on volatility and forecast based on the level of volatility. Therefore, this research can fill in the gaps in the literature in which forecast of Islamic stock index can be conducted by modeling the seasonality and trend using Holt-Winters models.Practical implications: Investors always try to find the best generating investment return. Investors concerned with the shariah rules will always find lawful investment tools such as Islamic stocks or the Islamic stock index. Returns of the Islamic stock index can be forecast by using the Holt-Winters model. Therefore, investors might know the pattern of returns generated by investing in Islamic stocks.
Sharia insurance efficiency in Indonesia and Malaysia using the stochastic frontier approach analysis Zubaidah Nasution
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol3.iss2.art5

Abstract

Purpose: This study aims to analyze the efficiency level of Indonesian sharia insurance and Malaysian takaful with a parametric stochastic frontier approach where the input is total assets and expenses, and the output of this research is claims and premiums.Methodology: This study uses quantitative methods with secondary data in the form of shariah insurance Malaysia and Indonesia annual reports 2016-2020. The data analysis uses a regression test with the help of stochastic frontier approach (SFA)Findings: Based on the results of processing using stochastic frontier analysis (SFA), Indonesian Sharia insurance's overall production efficiency level is known to be 0.6306 or 63.06%, Malaysian takaful on average is known to be 0.6160 or 61.60 %. Partially, Indonesian sharia insurance total assets, insurance expenses, and claims positively and significantly affect the number of premiums. Takaful Malaysia's total assets of Malaysian takaful partially have an insignificant negative effect on the premium amount. Malaysia's takaful expenses and claims partially have an insignificant positive effect on the premium amount.Originality: This study analyzes the efficiency and looks at the effect of the variables of Indonesian sharia insurance and Malaysian takaful with a parametric stochastic frontier approach.Practical implications: This research shows that the management of Indonesian sharia insurance and Malaysia's takaful is still inefficient, so each government needs to regulate the operations in this industry.
Financial performance and corporate values: Case in Jakarta Islamic Index Lutfi Aulia Rahman; Razana Juhaida Johari; Abdulazeez Adewuyi Abdurraheem; Dwipraptono Agus Harjito
Asian Journal of Islamic Management (AJIM) VOLUME 3 ISSUE 2, 2021
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol3.iss2.art6

Abstract

Purpose: This study aimed to determine the effect of financial performance on the company’s corporate value. The research is conducted by using companies listed in the Jakarta Islamic Index.Methodology: The sample in this study amounted to 14 companies, with the main criteria being companies that are consistently listed in the Jakarta Islamic Index during the study period. Data is obtained directly from the Indonesia Stock Exchange (BEI) and idx.com website. Quantitative analysis techniques used in this study include partial test, F test (simultaneous test), multiple linear regression analysis, and path analysis that previously conducted the classical assumption test, including normality test, autocorrelation, multicollinearity, and heteroscedasticity.Findings: The result of this research is that there is no influence of liquidity ratio to corporate value partially, there is a significant positive influence of profitability ratio to corporate value partially, there is a significant positive influence of solvency ratio to corporate value partially, there is a significant influence of liquidity ratio, profitability, and solvency to corporate value simultaneously. The variable of financial performance that has the most influence on corporate value is the profitability ratio.Originality: It is important to examine the stocks listed on the Jakarta Islamic Index because the majority of Indonesia's population is Muslim. Recently, many people have been aware of certain restrictions in Islam regarding what types of transactions are allowed and forbidden according to Islamic law.

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