UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Maqashid Shariah as a Performance Measure in Islamic Banks: An Empirical Study of Financial Indicators in Indonesia
No full textABSTRACT
Purpose : This study aims to analyze the effect of Return on Assets (ROA), Non-Performing Financing (NPF), Temporary Syirkah Funds (TSF), Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), and Operating Expenses to Operating Income (BOPO) on Maqashid Shariah performance in Islamic Commercial Banks (BUS) in Indonesia during 2014–2024.
Design/methodology/approach: The study employs a quantitative approach with panel data regression. The sample consists of six Islamic Commercial Banks selected through purposive sampling, resulting in 66 observations over eleven years. The Maqashid Shariah Index (MSI) is measured using Abu Zahrah’s framework modified by Mohammed et al. (2008), which covers the dimensions of education, justice, and welfare.
Findings: The results indicate that ROA, NPF, and TSF significantly and positively affect Maqashid Shariah performance. In contrast, CAR, FDR, and BOPO show no significant influence. These findings highlight that profitability, community participation through syirkah funds, and even the management of problematic financing can strengthen the ethical and social objectives of Islamic banking.
Theoretical Contribution/Originality: This study contributes by integrating financial indicators with maqashid shariah, showing that Islamic bank performance cannot be fully captured by conventional profitability measures. It provides new insights into the paradoxical role of NPF in reinforcing sharia-oriented outcomes.
Research limitation and implication: The study is limited to financial indicators and a ten-year sample of six banks, without considering non-financial dimensions such as CSR, ESG, or qualitative aspects of maqashid. Future research should integrate both financial and non-financial measures to obtain a more holistic evaluation.
Keywords: Maqashid Shariah, Islamic banking, ROA, NPF, Temporary Syirkah Funds, CAR, FDR, BOPO, financial performance, panel data, Indonesia
JEL Classification: G21, G32, Z1
Pengaruh Fitur, Kemudahaan Penggunaan dan Customer Perceived Value terhadap Loyalitas Nasabah Pengguna BSI Mobile
No full textMobile banking has become one of the most popular banking services in Indonesia, offering convenience and flexibility in conducting financial transactions. However, with the increasing number of mobile banking services, customer loyalty has become a key factor in retaining customers. This study aims to determine the effect of features, ease of use, and customer perceived value on customer loyalty of BSI Mobile users in the Special Region of Yogyakarta with a sample size of 100 respondents. The method used is a quantitative approach with purposive sampling method. The analytical tool used is IBM SPSS Statistics 30 software. The results of this study show that the variables of ease of use and customer perceived value have a significant effect on customer loyalty. While the feature variable does not have a significant effect on customer loyalty of BSI Mobile users in the Special Region of Yogyakarta
Analysis of the Effect of GRDP per Capita, Open Unemployment Rate, and Provincial Capital Dummy on Poverty Levels in Regency/City in Java Island in 2023
No full textPoverty is a fundamental challenge that hinders national progress, negatively affecting social and economic aspects. This study analyzes the effect of Gross Regional Domestic Product (GRDP) per capita, Open Unemployment Rate, and provincial capital status on the poverty rate in regencies/municipalities in Java Island in 2023. Using cross-sectional data from 119 districts/municipalities and the Ordinary Least Squares (OLS) regression method with robust standard errors, it is found that GRDP per capita and provincial capital status have a negative and significant effect on the poverty rate. In contrast, Open Unemployment Rate has a positive and significant effect on the poverty rate. The logarithmic model used shows consistency with economic theory and explains 52.22% of the variation in poverty rates. The findings suggest that inclusive economic growth, job creation, and equitable development outside provincial capitals are essential to reduce poverty in Java
The Effect of Good Corporate Governance and Corporate Social Responsibility on Financial Performance with Earning Management as an Intervening Variable
No full textPurpose: This study examines the influence of Good Corporate Governance (GCG) and Corporate Social Responsibility (CSR) on financial performance, with earnings management as an intervening variable. It provides alternative empirical evidence within the regulatory context of sharia-compliant firms.
Methodology: A quantitative approach with panel data is employed. Secondary data were obtained from audited annual reports and sustainability disclosures published on company websites and the Indonesia Stock Exchange (idx.co.id). Purposive sampling identified 23 consumer goods companies listed on the Indonesian Sharia Stock Index (ISSI) for 2020–2023.
Findings: The results indicate that GCG has a negative and significant effect on financial performance, suggesting compliance costs or reduced managerial flexibility. CSR shows no effect on financial performance, implying that disclosures in ISSI firms may be symbolic. GCG positively and significantly influences earnings management, while CSR does not. Earnings management has a negative and significant effect on financial performance. Moreover, earnings management does not mediate the relationship between GCG or CSR and financial performance.
Novelty: This study focuses on sharia-compliant consumer goods companies listed on ISSI, an institutional context emphasizing ethical governance, transparency, and restrictions on speculative activities. These requirements may generate distinct behavioral patterns in governance, CSR practices, and earnings manipulation, offering insights into how GCG, CSR, and earnings management interact within an ethics-based governance framework
An Analysis of Factors Influencing Customer Satisfaction in Sharia Insurance: A Systematic Literature Review
No full textResearch: This investigation seeks to survey the existing body of literature concerning customer satisfaction within the Sharia insurance sector, to delineate the principal factors that shape customer contentment, and to construct a conceptual framework predicated upon these pivotal determinants.
Design/methodology/approach: The study employs a Systematic Literature Review (SLR) methodology, integrated with a descriptive qualitative approach, following the PRISMA protocol. Data were procured from Google Scholar, utilizing the Publish or Perish software, with the search terms “kepuasan nasabah asuransi syariah” and “Sharia Insurance Customer Satisfaction.” An initial corpus of 41 articles was rigorously screened, culminating in a final selection of 11 seminal papers. A thorough content analysis was subsequently performed to identify, categorize, and interpret the collated research findings.
Research Findings: The review revealed a fluctuation in publication output between 2020 and 2025, peaking in 2023 with the issuance of five articles. The analysis identified five predominant factors that materially affect customer satisfaction: service quality, premium rates, brand image, Sharia-compliant marketing, and product quality.
Theoretical Contribution/Originality: This research furnishes a systematic overview specifically centered on customer satisfaction in Sharia insurance, thereby addressing a significant lacuna in the literature that has hitherto remained underexplored in a comprehensive manner using the SLR method.
Research limitation and implication: The scope of this inquiry is confined to 11 articles indexed in Google Scholar published between 2020 and 2025. Notwithstanding this limitation, the findings provide a foundational reference for subsequent academic research and offer salient practical implications for Sharia insurance enterprises aiming to enhance customer satisfaction through the fortification of service quality, premium structures, brand reputation, ethical marketing strategies, and product offerings
Digital Shariah Governance and the Future of Islamic Finance: A Framework for AI-Driven Shariah Compliance in a Global Regulatory Environment
No full textBackground: Digital transformation in Islamic finance offers significant opportunities while simultaneously challenging the sustainability of Sharia principles, particularly in governance, transparency, and compliance. Although Artificial Intelligence (AI) enhances operational efficiency and decision-making accuracy, its application raises ethical and juridical concerns due to the gap between technological innovation and maqasid al-shariah values.
Objectives: This study aims to develop a conceptual model of AI-based digital Sharia governance by integrating the Technology Acceptance Model (TAM), Institutional Theory, and Maqasid al-Shariah to explain technology acceptance, institutional legitimacy, and the realization of public welfare objectives.
Novelty: The novelty lies in integrating these three major frameworks, which are rarely combined in Islamic finance studies, by bridging user acceptance, institutional pressures, and Islamic normative values within a unified digital Sharia governance model.
Research Methodology / Design: This study adopts a conceptual-theoretical approach through systematic analysis and synthesis of reputable international literature in Islamic finance, financial technology, and ethical governance. The model links perceived usefulness, institutional legitimacy, and maqasid orientation without employing empirical data.
Findings: The proposed model indicates that the success of AI-driven digital Sharia governance depends on the synergy between user acceptance, institutional compliance, and alignment with maqasid al-shariah values, particularly justice, public welfare, and the protection of collective interests.
Implication: Theoretically, this study contributes to the literature on the integration of technology and Islamic ethics. Practically, it provides a strategic reference for regulators and Islamic financial institutions in designing AI-based digital governance frameworks that are not only technologically efficient but also Sharia-compliant and ethically grounded
The Influence of Training, Compensation, and Human Relations on Employees’ Work Ethic: A Case Study at Baitul Maal wat Tamwil Bina Ihsanul Fikri, Special Region of Yogyakarta
No full textPurpose: This study aims to analyze the effect of training, compensation, and human relations on employee work ethic at Baitul Maal wat Tamwil (BMT) Bina Ihsanul Fikri (BIF) in the Special Region of Yogyakarta.
Design/methodology/approach: The research employs a quantitative approach with a sample of 37 BMT BIF employees. Data were collected through questionnaires and analyzed using multiple linear regression with t-test, F-test, and the coefficient of determination.
Findings: The results show that the human relations variable has a positive and significant effect on employee work ethic, while training and compensation do not have a significant influence. These findings highlight that harmonious workplace relationships play a more important role in enhancing work ethic compared to training and compensation.
Theoretical Contribution/Originality: This research contributes to the literature on human resource management by emphasizing the role of human relations in improving work ethic in Islamic financial institutions. Furthermore, it provides new empirical evidence that training and compensation do not always have a significant impact on employee work ethic.
Research limitation and implication: This study is limited to one BMT branch in each district and city within Yogyakarta with a relatively small sample size. Future research is recommended to use larger samples and include additional variables such as work motivation or work environment. Practically, the findings suggest that BMT should prioritize creating harmonious workplace relationships to strengthen employee work ethic
Examining Students\u27 Perceptions and Expectations of Islamic Economics in Addressing Social Inequality
No full textThis study examines how university students in Jakarta perceive and expect Islamic economics to address social inequality. Integrating Social Cognitive Theory (SCT) and Expectation-Confirmation Theory (ECT), it proposes a cognitive-affective-conative framework linking students’ understanding, perception, and expectation. A survey involving 522 students was analyzed using PLS-SEM. Results confirm that understanding significantly influences perception (β = 0.403) and expectation (β = 0.185), with perception also mediating the relationship (β = 0.189). Students largely view Islamic economics as fair and effective, especially instruments like zakat and Islamic microfinance. However, gaps exist between expectations and implementation, driven by limited public understanding, inadequate regulation, and digital infrastructure challenges. This research contributes to theoretical integration of SCT–ECT in Islamic economics and provides actionable insights for policymakers and educators to strengthen financial literacy, reform regulations, and enhance technological access. The findings support a dual approach: conceptual literacy and perceptual alignment are both essential to realize the role of Islamic finance in promoting equity
The Influence of Audit Quality and Capital Structure on Firm Performance with Earnings Management as a Mediating Variable
Full text linkPurpose: This study aims to examine the effect of audit quality on company performance with earnings management as a mediating variable. These variables consist of audit quality, capital structure, firm performance, and earnings management. The uniqueness of this study lies in the use of mediating variables in earnings management.
Methodology: The data source taken is the financial statements of service companies listed on the Indonesia Stock Exchange (IDX) in 2017-2023, which were obtained through the official IDX platform. By using the purposive sampling technique, this study collected 154 data for further analysis.
Findings: The results of this study indicate that audit quality and capital structure have an effect on earnings management, earnings management has a negative effect on ROA and ROE, audit quality and capital structure have an effect on ROA and ROE, and audit quality and capital structure have a direct effect on both ROA and ROE, so earnings management cannot mediate the effect of audit quality and capital structure on firm performance (ROA and ROE).
Novelty: This study combines the four variables (audit quality, capital structure, firm performance, and earnings management), which is still relatively rare, so there is an opportunity to explore new relationships and how quality audits can limit earnings management and ultimately improve company performance. Also, earnings management is often used to cover up the negative impacts of certain capital structures
The Influence of Sharia Financial Literacy, Technology, and Investment Knowledge on Investment Decisions Among the Millennial Generation
Full text linkBackground: Investment refers to the act of allocating funds or capital into assets with the expectation of generating future profits. Sound investment decisions are typically grounded in meticulous financial planning and a comprehensive understanding of associated risks and potential returns.
Objectives: This study aims to examine the influence of Islamic financial literacy, technology, and investment knowledge on investment decisions among the millennial generation in Jambi City.
Novelty: In this study, investment decisions serve as the dependent variable, while Islamic financial literacy, technology, and investment knowledge are the independent variables. The research focuses on the millennial generation residing in Jambi City.Research Methodology / Design: This quantitative study employs a population of 151,855 millennial residents in Jambi City. A probability sampling technique was utilized to select 100 respondents. Data were collected through questionnaires using a Likert scale measurement. Analytical methods included validity and reliability tests, R-squared analysis, and hypothesis testing via bootstrapping using Smart PLS 4.0 software.
Findings: The findings indicate that Sharia financial literacy exerts a positive yet statistically insignificant influence on investment decisions, whereas technology and investment knowledge demonstrate a positive and statistically significant impact on investment decisions.
Implication: Future studies are encouraged to incorporate additional variables to identify other factors influencing investment decisions