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IJIBE (International Journal of Islamic Business Ethics)
Published by Universitas Islam Sultan Agung
ISSN : 25020633     EISSN : 25024647     DOI : 10.30659/ijibe
Core Subject : Economy,
Economics, Econometrics & Finance
International Journal of Islamic Business Ethics (IJIBE) is a publication medium of research results in the field of Islamic business ethics. Islamic business ethics is a concept of business which based on Islamic values and principles. It is guidance for business actors to know what is right or wrong from Islamic perspective. This is aimed for the benefit of people and the welfare of broader community for either the present or the future.
Arjuna Subject : Psikologi - Psikologi (Lain-Lain)
Articles 6 Documents
 1 
Search results for , issue "Vol 4, No 2 (2019): September 2019" : 6 Documents clear
RELIGIO-CENTRIC SELLING STRATEGY IN THE RELATIONSHIP BETWEEN MARKET SENSING CAPABILITIESAND THE SMEs BUSINESS PERFORMANCE Hendar Hendar
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.640-658

Abstract

This paper aims to investigate and examine the mediating role of religio-centric selling strategy in relation to market sensing capabilities with SMEs business performance in religious-based industries. This paper selected 330 Muslim SMEs in Central Java and tested the regressive relationships of the three constructs. Through confirmatory factor analysis and goodness of fit model testing using SEM, the results of market sensing capabilities obtained have a positive effect on the religio-centric selling strategy and SMEs business performance. In addition, the religio-centric selling strategy also has a positive impact on SMEs business performance. Therefore, the religio-centric selling strategy really acts as a partial mediation in relation to market sensing capabilities with SMEs business performance. By examining the literature on various marketing capabilities, selling strategies, religiosity, and SMEs business performance, this paper offers a unique analysis of the relationship between market sensing capabilities and religio-centric selling strategy and their impact on SMEs business performance. Conceptual discussions and empirical results are expected to extend previous research on the culture of market orientation and selling strategy in specific religious-based small businesses.
THE IMPACT OF UNANTICIPATED POLITICAL EVENTS ON STOCKS MARKET RETURNS: EMPIRICAL EVIDENCE FROM SAUDI ARABIA Mohamed Zakaria Fodol; Hassanuddeen Bin Abdul Aziz
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.659-675

Abstract

Abstract:This study aims to identify the effect of unexpected political-events on Saudi stock market returns based on the efficient market hypothesis (EMH) assumptions.  The disappearance of the Saudi journalist Jamal Khashoggi in Turkey is the political event has been determined in this study.  The data collected from ten companies traded in the Saudi stock market which accounted for more than 62 percent of the total market capitalization. However, this paper applied the Event Study Methodology. The results showed that the Saudi stock market initially reacted to the event and tried to absorb the information received but could not correct itself in most of the window event period. It seems that the market did not get the relevant news quickly or clearly. So, the information that flow among traders was not readily available for the investors at the same level and time. Ultimately, the Saudi stock market is described as a weak-form market (inefficient).Keywords: Unanticipated political events, the stock market, expected returns, abnormal returns, cumulative returns, event study methodologyAbstract: This study aims to identify the effect of unexpected political-events on Saudi stock market returns based on the efficient market hypothesis (EMH) assumptions.  The disappearance of the Saudi journalist Jamal Khashoggi in Turkey is the political event has been determined in this study.  The data collected from ten companies traded in the Saudi stock market which accounted for more than 62 percent of the total market capitalization. However, this paper applied the Event Study Methodology. The results showed that the Saudi stock market initially reacted to the event and tried to absorb the information received but could not correct itself in most of the window event period. It seems that the market did not get the relevant news quickly or clearly. So, the information that flow among traders was not readily available for the investors at the same level and time. Ultimately, the Saudi stock market is described as a weak-form market (inefficient).Keywords: Unanticipated political events, the stock market, expected returns, abnormal returns, cumulative returns, event study methodology.
EFFECT OF ISLAMIC WORK ETHICS ON JOB PERFORMANCE: MEDIATING ROLE OF INTRINSIC MOTIVATION Maaz Ud Din; Faisal Khan; Usman Khan; Ana Kadarningsih; Sih Darmi Astuti
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.676-688

Abstract

The determination of this research is to examine the effect of Islamic work ethics on job performance and intrinsic motivation. This study also try to investigate the mediating role of intrinsic motivation on the association between Islamic Work Ethics and job performance. Nonprobability sampling, method was used. Data were collected through adopted questionnaires from 310 teachers of different Universities situated in Malakand Division, KP-Pakistan. SPSS and AMOS were used for Statistical tests. Empirical results indicate that there is a significant positive association between Islamic work ethics, Job performance and intrinsic motivation. The study determined that the idea of Islamic work ethics works as a therapy for the emergent ethical crisis of education sector of Pakistan which should be pervaded in organizational culture for sustainable job performance and growth. Further, study explain that intrinsic motivation mediates the association between Islamic Work Ethics and Job Performance. Implications and upcomingstudy recommendations are discuss in the conclusion.
COMPANY VALUE IMPROVEMENT THROUGH FUNDING POLICY BASED ON OWNERSHIP STRUCTURE (COMPARISON STUDY AT CONVENTIONAL AND SHARIA MANUFACTURING COMPANIES) Jumaizi Jumaizi; Ngaijan Ngaijan
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.689-706

Abstract

This research aims to discuss and analyze the influence of ownership structure on the value of the company by dividend policies. The companies analyzed in this research were manufacturing companies listed on Indonesia Stock Exchange (IDX). Data that has been collected is analyzed using Multiple Regression. The results showed that managerial ownership and institutional ownership have a negative and significant impact toward debt policy and company value, while debt policy has a positive and significant impact toward firm value. This phenomenon shows that both shareholders of management and institutional shareholders consider debt policy endanger their position in the company, and will not be materially profitable. Meanwhile, the debt policy is considered as a positive signal of the existence of a business project that the company works on, because the company needs a lot of funds. On the other hand, the ownership composition of shares dominated by management and institutional shareholders is seen as a threat in the community, because there are opportunities to benefit themselves but will not benefit the community. In the end, information asymmetry is still a problem between individual and small shareholders, with shareholders who are able to obtain important company information such as institutional shareholders and shareholders who also control the company's management.
DEPOSIT AND FINANCING INSTRUMENTS THROUGH WAQF BANK FOR FOSTERING REAL ECONOMY AND SOCIAL SUSTAINABILITY Muhammad Ridhwan Ab. Aziz; Mohd Asyraf Yusof
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.611-626

Abstract

During the global financial crisis and its aftermath, Islamic financial institutions were less affected, protected by their fundamental operating principles of risk sharing and the avoidance of leverage and speculative financial products. This has led to a greater appreciation of the role of Islamic finance in supporting economic growth across the globe. The contribution of Islamic finance and Islamic social finance especially through waqf sector promotes real economic development and could help to foster real economy and social sustainability.  The impact and contribution of waqf for economic development in fostering real economy and social sustainability can be obverved in many areas such as enhancing economic progress, eradicating proverty, restoring distribution of income, reducing government expenditure, preventing deficit financing and stimulate growth and job creation. Therefore, a new mechanism is needed to support non-bankable and poor customers for financing facilities via Shariah compliant Islamic financial products and services.The purpose of this paper is to examine the most feasible mechanism for deposit and financing instruments based on waqf through Waqf Bank that able to foster and stimulate economic and social sustainability in the real economy sector especially for Muslim countries. The methodology of research in this study is through qualitative research based on interviews with Muslim scholars as well as Islamic banking and waqf practitioners. The finding of this study shows that there is feasible mechanism and modus operandi for the development of deposit and financing instruments in the Waqf Bank that able to be applied in many Muslim countries worldwide.
THE POTENTIAL INDUSTRY OF ISLAMIC TOURISM IN SOUTHEAST ASIAN (SEA) COUNTRIES Rininta Nurrachmi
IJIBE (International Journal of Islamic Business Ethics) Vol 4, No 2 (2019): September 2019
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.4.2.627-639

Abstract

Southeast Asian (SEA) countries is rich with natural resources and historical heritage. The high number of Muslim populations in SEA countries can be a potential revenue to promote Islamic tourism. This study aimed to examine the potential of Islamic tourism industry as alternative revenue and it seeks to investigate the effective and efficient way to promote Islamic tourism in SEA. There are many potential factors that promote Islamic tourism in SEA countries. Push and pull factors influence Muslim tourists is deciding which place they want to visit. Collaboration and coordination among SEA countries can enhance Islamic tourism the developing of Islamic tourism in the region eventually economic benefit can be gained to enhance the countries’ revenue.

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