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Global Review of Islamic Economics and Business
Published by Universitas Islam Negeri Sunan Kalijaga Yogyakarta
ISSN : 23387920     EISSN : 23382619     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "Vol. 11 No. 1 (2023)" : 5 Documents clear
Unraveling the Complex Dynamics of Islamic Social Reporting and Financial Performance: A Study of Mediating and Moderating Factors in Islamic Banks Saipul Arni Muhsyaf
Global Review of Islamic Economics and Business Vol. 11 No. 1 (2023)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2023.111-01

Abstract

Islamic Social Reporting (ISR) is crucial for Islamic banks as it captures the extent of their adherence to social and ethical principles, which influences their financial performance. Drawing on stakeholder theory the primary objective of this study is to scrutinize the impact of ISR on the financial performance of Islamic banks in Indonesia, with a specific focus on the mediating and moderating roles of key governance factors, namely ownership concentration, bank size, board independence composition, and leverage. The study is based on data from ten Indonesian Islamic commercial banks from 2017 to 2020, utilizing regression models and Path SEM analysis for assessment. The findings reveal a positive impact of ISR on financial performance. Additionally, it is discovered that the board independence composition and leverage significantly moderate the ISR-financial performance relationship. However, the study does not find evidence of the mediating effects of ownership concentration and bank size. While the moderating roles of board independence composition and leverage align with prior research, the absence of mediation effects contrasts with previous studies. Originality/Value: This research offers a distinct exploration of the relationship between ISR-financial and financial performance relationship within the specific context of Indonesian Islamic banks. It creatively probes the mediating and moderating impacts of select governance variables, a largely unexplored territory in extant literature. The findings of this study contribute to the theoretical framework of ISR's influence on financial performance and provide actionable insights for policy and strategic decisions in Islamic banks. It underscores the potential of such studies to drive sustainable growth, thereby laying the groundwork for future research.
Determinant Performance of Islamic Equity Funds in Indonesia Alif Khuwarazmi Maulana Julendra; Dwi Marlina Wijayanti; Slamet Haryono
Global Review of Islamic Economics and Business Vol. 11 No. 1 (2023)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2023.111-04

Abstract

Financial risk tolerance is a crucial factor affecting the growth of Islamic Equity Funds and is directly linked to the performance of Islamic Equity Fund managers.  Enhanced performance by investment managers in cultivating Islamic Equity Funds is likely to increase the intention to invest in such funds. This study aimed to assess and provide comprehensive information on the performance of Islamic Equity Funds in Indonesia. Quantitative statistical analysis was used to examine the impact of stock selection skills, market timing ability, fund size, fund age, expense ratio, and portfolio turnover on the performance of Islamic Equity Funds. This study utilized annual data from 2015-2020, obtained from the prospectus of each Islamic Equity Fund, Central Bank Indonesia (BI), and the Statistics of Indonesia (BPS). The findings indicated that stock selection skill and expense ratio had a positive and significant effect on the performance of Islamic Equity Funds. However, market timing ability, fund age, and fund size had no significant effect, although the results showed positive values. On the other hand, portfolio turnover had a negative and significant effect on the performance of Islamic Equity Funds. Therefore, it can be inferred that higher stock selection abilities of investment managers lead to better returns, and the expense ratio of an equity fund reflects the costs associated with portfolio management, administration, marketing, and distribution. Originality/Value: This paper addresses the significant issues that arise in Islamic equity funds, which are crucial as investment portfolios, and contributes to a limited body of research in this area. Therefore, gaining insight into the key factors affecting the performance of equity funds can optimize their functionality and attract investors.
Green Banking: The Trend of Maintaining Sustainability of Environmental Business Fajar Adhitya; Dessy Noor Farida
Global Review of Islamic Economics and Business Vol. 11 No. 1 (2023)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2023.111-05

Abstract

Various countries are currently facing the degradation of energy resources, natural resources, and environmental pollution. As the party providing financing, banks must participate in reducing environmental damage. Based on interviews conducted with 30 customers who use financing services in banking, the results show that: financing obtained from banks is used for business capital financing, which includes businesses: food stalls, catering, grocery stores, workshops, and expedition services. Based on the interview results, the fact that these businesses have not implemented the concept of an environmentally friendly business is also obtained. This type of research is qualitative research. The data sources for this study were 32 BSI customers in the Central Java region. The findings indicated that 32 respondents of BSI in the Central Java Area are already familiar with green banking. However, when it comes to e-banking, only 37.5% of respondents were aware of green banking. Up to 56.25% of customers realize the need to recycle waste and manage the waste generated by their products. In short, most of BSI's customers in the Central Java region have not implemented the green banking concept in their business. This study's practical implications imply that customers' preferences for using the money they are given to fund environmentally friendly firms may exist. Concerning its theoretical implications, this study aims to improve the theory of green banking and how it relates to the sustainability of businesses. Originality/Value: This research primarily focuses on customer perceptions of the implementation of green banking. However, no research focuses on customer business activities that apply green banking principles, especially MSMEs. At the same time, the customer's business activities are the responsibility of both the business actor and the financier (Bank).
Impact of Financing Problems on Baitul Mal wa Tamwil during Covid-19 Ma’watu Shalihah Kaily; Achmad Firdaus; Wahyu Dwi Agung Priyo Susila
Global Review of Islamic Economics and Business Vol. 11 No. 1 (2023)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2023.111-03

Abstract

Abstract: This study evaluates the cause and effect of financing problems on Baitul Mal wa Tamwil (BMT) during COVID-19 and analyzes the strategy taken by BMT to handle financing problems. This study is qualitative research. The primary and secondary data were obtained from observations, interviews, and documentation. The informants of the study are top management and members of BMT Al Hidayah Kotaraja Lombok Timur. The data are analyzed using the FMEA (Failure Mode and Effect Analysis) approach. The FMEA method is a systematic method used to identify and prevent problems in a company's product or business process. All process is calculated in a score, namely Risk Priority Number (RPN), and shown in the Pareto diagram. Financing problems are categorized as substandard, doubtful, and bad financing. The causes of financing problems are, among others, the employee’s lack of ability to assess the personality of the prospective debtors in fulfilling their installments, and natural disasters (the COVID-19 pandemic) that may affect someone’s financial ability. Financing problems have an impact on the emergence of financing risk. BMT Al Hidayah Kotaraja is also directly impacted by the inefficient money flow because monthly profit sharing still needs to be distributed to the members. The main factor causing this problem is staff members' inability to evaluate potential debtors. Additionally, the company's approach to these financing problems has not been working. The management, in that case, focused on the debtors instead of their employee’s capability. In that circumstance, the management ought to focus on improving the capacity of their staff to evaluate potential members. According to this study's findings, the FMEA is applicable in resolving finance issues in BMT. Originality/Value: The research related to risk management in BMT, especially NPF caused by the COVID-19 pandemic, using the FMEA (Failure Mode and Effect Analysis) method. FMEA is a systematic method used to identify and prevent problems with a company's products or business processes from occurring. FMEA is used to examine risk management in banking and provides convenience to the management in making decisions for planning, maintenance, and development purposes. The FMEA method in this study identifies and prevents problems in BMT.
ASEAN Halal Markets Analysis: Regulatory and Harmonization Challenges Anggito Abimanyu; Ihda Arifin Faiz
Global Review of Islamic Economics and Business Vol. 11 No. 1 (2023)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2023.111-02

Abstract

This article examines important aspects of the halal market’s development, including halal food in seven advanced members of ASEAN countries. The qualitative method has been used by examining the main aspects of the regulation, a form of institutions, a SWOT analysis, a study of the impact of halal food regulations, and an analysis of ASEAN regulatory harmonization. Data on halal food regulations in ASEAN-7 countries were obtained from literature reviews, official documents, publications, interviews, and direct field observations. The study shows that halal regulations in ASEAN-7 generally are adequate for their purpose but reveal diversity in halal standards, institutional forms, internal and external environmental conditions, and their impacts. The implication shows that the ASEAN can potentially increase halal business and global halal trade. Although various efforts have been made, more synergistic cooperation is needed to develop harmonious halal trade regulations to increase economic, social, and consumer protection benefits for the ASEAN region. Originality/Value: This study investigates the existence of research gaps between empirical data and literature or theories concerning the trade in halal food products within the ASEAN region. The study on the harmonization of halal regulations in ASEAN and its relationship to trade flows has not been extensively conducted. It is hoped that this research will prove beneficial to both academic literature and the formulation of regional policies regarding the halal food trade among ASEAN countries.

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