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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 142 Documents
ZAKAT, INFAQ, SADAQAH ON MUSTAHIK INCOME TO REALIZE NO POVERTY IN INDONESIAN ZAKAT INSTITUTION M Jaenudin; Sri Herianingrum
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 1 (2022): JANUARY-JUNE 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i1.36360

Abstract

The issue of poverty has become a part of Sustainable Development Goals (SDGs). Islam believes poverty must be sought and given concrete solutions through philanthropic instruments such as zakat, infaq, and sadaqah (ZIS). However, ZIS management will be more optimal if implemented by the Amil Zakat Institution or Lembaga Amil Zakat(LAZ). Thus, this research aims to determine the role of ZIS on mustahik's income for realizing SDGs at the Indonesian zakat institution. The research uses a quantitative method with a comparative approach. The Wilcoxontest will test the data using a different test between mustahik's income before and after being given ZIS funds. In addition, this study also uses several SDGs' indicator metadata, measured through the mustahik's income. Respondents from this research study were mustahik of the ZIS funds provided by Lembaga Manajemen Infaq (LMI), a zakat institution, with a total of 355 respondents spread across the provinces of East Java, South Sumatra, Riau Islands, and South Kalimantan. The results show a difference in the income of LMI mustahik before and after being given ZIS funds. If viewed from the SDGs' indicator metadata perspective, the distribution and utilization of ZISbecome essential in realizing no poverty. The existence of LAZ has an essential role in supporting the SDGs, especially in the equitable distribution of income, and can be an instrument in alleviating poverty. However, suggestions for future research are the need for an approach other than income and also need to be measured using metadata other than the SDGs indicator no poverty.
EXAMINING THE TREND, THEMES, AND SOCIAL STRUCTURE OF THE ISLAMIC ACCOUNTING USING A BIBLIOMETRIC APPROACH Muhamad Wahyudi; Sri Herianingrum; Ririn Tri Ratnasari
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.34073

Abstract

This study focuses on bibliometric indicators of Islamic accounting research development, such as trends in Islamic accounting research and its distribution, topics and themes in Islamic accounting research, significant contributors to Islamic accounting research, the pattern of collaboration in Islamic accounting research, and the most significant texts in the Islamic accounting literature. Four hundred eighty-three pieces of scientific literature were entered into the Scopus database for bibliometric analysis on January 10, 2022. Various programs were used to analyze frequency, metrics, and citations, including Microsoft Excel, VOS viewer, and Harzing's Publish or Perish. Over the last ten years, Islamic accounting publications have grown significantly and steadily. Islamic accounting literature is based in Asia, Europe, America, and the Middle East, and it can be found in social science, business, management, accounting, economics, and finance. With a few exceptions in Malaysian, Arabic, German, Indonesian, Slovak, and Turkish, the majority of Islamic accounting literature is written in English. The study also discovered that terms like Islamic bank, banking, Islamic performance, Islamic accounting standards, and Islamic finance are commonly used. The seven countries that contributed the most to the development of scholarly collaborations in Islamic accounting were Malaysia, Indonesia, the United States, Saudi Arabia, the United Kingdom, Pakistan, and Australia. This is critical in assisting academics in making recommendations for future study in the field of Islamic accounting.
BEHAVIORAL INTENTION OF ISLAMIC PEER-TO-PEER LENDING SERVICES USERS Mega Rachma Kurniaputri; Nur Fatwa
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.34212

Abstract

The fintech lending industry, as in non-bank financial institutions in Indonesia, has faced several problems, such as low financial literacy, constraints on the information system, weak scoring system, users data leakage, technology gaps with Islamic banks, and cases of default that make lenders disappointed and share it through social media. Although there are many problems, it does not reduce the intention of the lenders to lend their money through peer-to-peer lending as an alternative investment place. This research uses a quantitative descriptive method with the Partial Least Square - Structural Equation Modeling (PLS-SEM) technique. The study is conducted on 250 lenders in Indonesia who lend through Islamic peer-to-peer lending. Based on the results, lenders' intention is influenced by factors of effort expectancy, habit, and hedonic motivation. The lenders found that lending their money will improve their profit and make it easy to use. Meanwhile, facilitating conditions, habits, and behavioral intentions directly affect user behavior to continue to choose the Islamic peer-to-peer lending service that is already being used. The acceptance and use of lenders to use Islamic peer-to-peer lending are influenced by effort expectancy, habit, hedonic motivation, facilitating conditions, and behavioral intentions. This study is expected to be a recommendation for the financial technology industry to improve its services and facilities for users, particularly for lenders. In addition, this research can be an additional reference for regulators to make regulations related to Islamic financial technology, particularly for lenders in fintech lending.
THE SECTORAL FINANCING DIVERSIFICATION AND THE PROFITABILITY OF ISLAMIC BANKING IN INDONESIA Agus Widarjono; Sahabudin Sidiq Sidiq
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.36316

Abstract

This study investigates the influence of sectoral financing concentration on the profitability of Islamic banking in Indonesia. The data is aggregated by Indonesian Islamic banks from January 2015 to June 2021. Islamic banks are divided into two, namely Islamic commercial banks and Islamic window banks. The study used Autoregressive distributed lag (ARDL) and Panel Mean Group (PMG). The results showed that sectoral financing concentration increased the profitability of Islamic commercial banks while diversification of sectoral financing boosted the profitability of Islamic window banks. In addition, this study also showed that size and inefficiency negatively affected the profitability of Islamic commercial banks and window banks. This result implies that the right sectoral financing policy for Islamic commercial banks is financing concentration. This strategy implies that Islamic commercial banks must build competitiveness in certain sectors of the economy. For this reason, there is a need to increase the skills of the worker to build a competitive advantage in the sector that is the focus of financing. In comparison, sectoral financing diversification is more applicable for Islamic window banks. To support this diversification strategy, banks must conduct good supervision in the financing, especially sectoral financing based on profit-sharing contracts.
CELEBRITY ENDORSERS VS EXPERT ENDORSERS: WHO CAN AFFECT CONSUMER PURCHASE INTENTION FOR HALAL FASHION PRODUCT? Yan Putra Timur; Ririn Tri Ratnasari; Nailul Author
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37529

Abstract

This study aims to analyze the effect of using two types of endorsers, namely celebrities and expert endorsers, on consumer purchase intentions between halal fashion products. The method used in this study is PLS-SEM for model evaluation. This study analyzes the effect of using two types of endorsers, namely celebrities and expert endorsers, on consumers' purchase intentions between halal fashion products. The method used in this study is PLS-SEM for model evaluation. This study gave respondents a full-color print advertisement containing a photo of artist April Jasmine as a celebrity endorser and expert fashion designer Hannie Hananto as an expert endorser. We use celebrity and expert endorsers as independent variables and consumer purchase intention in halal mode as the dependent variable. The result showed that celebrity endorsers positively influence consumer purchase intention in halal fashion products. Meanwhile, expert endorser does not affect consumer purchase intention on halal fashion products. The results of this study reveal that celebrity endorsers positively affect consumers' purchase intentions for halal fashion products. However, marketers must pay attention to the suitability of selecting the type and attributes of the endorser with the product they support. The goal is that the marketing costs incurred by the company in the endorser use strategy are more effective and follow marketing objectives.
SHORT-RUN AND LONG-RUN RELATIONSHIP OF ISLAMIC HOME FINANCING IN MALAYSIA: ANALYSIS ON ISLAMIC BANKS Siti Maryam Idris; Zakaria Bahari; Fadzila Azni Ahmad
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37530

Abstract

Islamic home financing is a service offered by Islamic banks according to the Islamic principle. In Malaysia, it has been offered since the early 1980s. The demand for Islamic home financing in Malaysia has increased over time. Therefore, this study would like to delve into the short-run and long-run relationship between the factors involved in Islamic home financing. Past studies highlighted the microeconomic factors and macroeconomic factors in Islamic banks that contribute to the growth of Islamic home financing in Malaysia. Thus, this study would include four factors comprised of deposits, liabilities, GDP, and government expenditure. Deposits and liabilities are categorized into microeconomic factors, whereas GDP and government expenditure are macroeconomic factors. The first objective is to identify the short-run and long-run relationship between the factors mentioned above on Islamic home financing in Malaysia. The second objective is to analyze the causality effects of the factors on Islamic home financing in Malaysia. The methodology comprises of quantitative research design. Data collection is based on secondary data collection, which was retrieved through documentation review and statistical highlights from Bank Negara Malaysia. The data comprise the first quarter of 2010 until the second quarter of 2021. Analysis data is conducted through an econometric approach within time series data which is the ARDL test and Granger causality test. The findings of this study would emphasize the importance of microeconomic factors and macroeconomic factors on Islamic home financing. It would encourage the supply and growth of Islamic home financing by Islamic banks in Malaysia in the future.
THE ROLE OF GREEN SUKUK IN REALIZING THE SUSTAINABLE DEVELOPMENT GOALS 2030 AGENDA Donna Vanny Araminta; Qudziyah Qudziyah; Yan Putra Timur
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37531

Abstract

The purpose of this study is to investigate green sukuk and its influence on the implementation of the Sustainable Development Goals (SDGs), as well as to identify and analyze the factors that have an effect on those activities. This research is carrying out a systematic literature review in order to locate, examine, and analyze any and all relevant research that is currently available in order to provide answers to the research questions. In spite of the fact that it is such a great innovative investment instrument and that it is doing well with getting positive response from the market, green sukuk still face many challenges, and there is still room for improvement to bring up its potentials and maximize its social impact for the most recent SDGs agenda. Green sukuk have developed into Islamic financial instruments that are in demand by the public because of their ethical responsibility towards the environment. Green sukuk provides benefits not only for all stakeholders involved in it but also for the environment. The government, as a regulator, is expected to be able to provide support through various strategic policies to support green sukuk, such as by developing a more substantial legal basis and incentives in the form of tax reductions, as well as strengthening information and literacy to the public about green sukuk.
ISLAMIC STOCK MARKET PERFORMANCE PRE-COVID-19: EMPIRICAL EVIDENCE FROM JAKARTA ISLAMIC INDEX Indri Supriani; Sri Herianingrum; Sri Yayu Ninglasari; Ryan Setya Budi
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37789

Abstract

Islamic stock market has experienced massive growth globally, including in Indonesia. This study aims to investigate the predicting factors of the Indonesian Islamic stock market that presents by the stock price of the Jakarta Islamic Index (JII). Adopted the Augmented Distributed Lag (ARDL) approach, this study uses monthly data from January 2007 to February 2020. This study uses five macroeconomic variables, namely consumer price index, exchange rate, crude oil price, world gold price, and Dow Jones Islamic Index (DJIM), to determine the JII's stock price. As a result, the JII's price volatility is significantly driven by the macroeconomic variables simultaneously. Importantly, this study reports that world gold price and DJIM return to become the most crucial factors influencing the ' 'JII's stock price volatility in short and long-run investment periods. This study has passed robustness checks by conducting three out of sample periods, namely 25%, 50%, and 75% out of sample. The 75% and 50% out of sample data revealed an identical result. Thus, this study suggests that the investor evaluates the crude oil price and world gold price fluctuation to predict the price of JII. This study offers practical implications for policymakers and practitioners and recommendations for future research.
PUBLIC INTENTION IN BUYING CASH WAQF LINKED SUKUK: MODIFICATION OF THEORY OF REASONED ACTION (TRA) Neni Sri Wulandari; Yoga Tantular Rachman; Mega Rachma Kurniaputri
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.37794

Abstract

Many people only know that waqf is only in the form of land assets, even though today, there is the latest innovation in waqf through Cash Waqf Linked Sukuk to build social infrastructure such as building hospitals. However, CWLS experiences growth every year. This study aims to analyze the public's intention to buy Cash Waqf Linked Sukuk through the Theory of Reasoned Action and also to determine the effect of religiosity on attitudes. Using the causality method, this study uses primary data through questionnaires distributed online to Indonesian Muslim residents over 18 years old who know the Cash Waqf Linked Sukuk program and understand the CWLS program. This study uses Structural Equation Modeling - Partial Least Square to analyze the data. This study found that religiosity had a positive and significant effect on attitudes. In addition, it was also found that subjective attitudes and norms have a positive and significant influence on people's intentions to buy cash waqf-linked Sukuk waqf. The implication of this research is to be the reference for regulators in conducting the study and also to give information about CWLS to the community. The discussion about Cash Waqf Linked Sukuk in Indonesia is still limited; therefore this study was conducted to enhance people's knowledge.
SENSITIVITY ISLAMIC STOCK RETURN IN ASIA: THE EFFECT OF EXCHANGE RATE VOLATILITY Larasayu Anindya Dewanti; Sylva Alif Rusmita; Khairunnisa Abd Samad
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.39018

Abstract

The current study focuses on the existence of exchange rate volatility that impacts the return of MSCI Islamic stocks in Asia emerging countries. The study also sees comparisons between Islamic emerging markets in Asia (India, China, and Korea) and Southeast Asia regions (Indonesia, Malaysia, Thailand, and the Philippines). This study's daily time series data is from January 2015 to June 2020, employing time series regression as an analysis technique. The EGARCH method is used to indicate the asymmetric model and examines the impact of both good and bad shocks generated. The results highlight that the volatility of the MSINI is statistically positive, whereas MSCNI and MSKRI show a significant adverse effect on volatility. On the other hand, Southeast Asia (MSIDI, MSMYI, MSTHI, and MSPH) has no significant effect on exchange volatility. It is interpreted that the currencies of Southeast Asian countries are not strong enough because they still depend on other exchange rates. This result can be utilized to invest in the Islamic stock market in Southeast Asia because it is not affected by exchange rate volatility. Investors can quickly react to sensitive stocks to avoid uncertainty in stock returns. The government must be advised to increase the fiscal stimulus space and provide ease of business in the real sector.