UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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The Role of the Digital Economy in Increasing the Competitiveness of MSMEs in Indonesia
No full textThe digital economy is the main force driving economic transformation throughout the world, especially in Indonesia. The rapid progress of information and communication technology has caused various sectors to adopt digital platforms to increase operational efficiency and expand market access. This essay focuses on how Indonesian MSMEs, which are the backbone of the country\u27s economy, can take advantage of the digital economy to increase their competitiveness. To be able to develop amidst increasing market competition, MSMEs must strategically integrate digital technology such as social media, fintech and e-commerce.
This research uses qualitative methods, literature research and secondary data to highlight the benefits of the digital economy for MSMEs. Key benefits include improved operational efficiency and increased customer reach in both domestic and international markets. However, MSMEs face significant challenges in utilizing digital technology, including low levels of digital literacy, inadequate technological infrastructure in rural areas, and a lack of regulatory support for digital economic growth.
The findings show that the digital economy encourages innovation in product development, marketing and business management, thereby providing opportunities for MSMEs to increase competitiveness. To overcome these challenges, collaboration between the government, private sector, educational institutions and the MSME community is needed to create an inclusive and sustainable digital ecosystem. The article offers strategic recommendations for optimizing the benefits of the digital economy for MSMEs, including supportive regulations, infrastructure development, and digital literacy training
Central Bank Digital Currencies and It’s Potential Impact on the Profitability and Systems Stability of Commercial Banking in Emerging Markets
Full text linkThe development of Central Bank Digital Currencies (CBDCs) has become a significant topic of discussion globally, particularly in emerging markets where financial inclusion, monetary sovereignty, and banking stability are key concerns. This study explores the potential impact of CBDC implementation on the profitability and system stability of commercial banking systems in these economies. This research adopts a qualitative approach through a literature review of CBDC implementations in key emerging economies, including China, Nigeria, Brazil, Russia, and India. The study finds that while CBDCs can enhance efficiency and financial accessibility, their impact varies depending on a country\u27s banking infrastructure, regulatory framework, and financial stability measures. In some cases, CBDCs have exacerbated liquidity risks for commercial banks, while in others, they have promoted digital innovation and alternative revenue streams. The findings highlight the need for strategic collaboration between central banks and commercial financial institutions to mitigate risks while leveraging the benefits of CBDCs. Policy recommendations include implementing limits on CBDC holdings, integrating CBDCs with existing banking services, and fostering regulatory frameworks that support a balanced financial ecosystem. This study contributes to the academic discourse on digital currencies and banking by offering insights into the evolving role of central banks and commercial banks in the digital financial landscape
Potensi Pasar Tradisional dalam Memajukan Ekonomi Lokal: Studi Kasus Pada Pasar Haji Sani Delta Pawan, Ketapang
Full text linkPenelitian ini mengkaji relevansi pasar tradisional dalam memajukan perekonomian dan kesejahteraan masyarakat lokal dengan mengambil studi kasus Pasar Haji Sani Delta Pawan, Ketapang. Melalui pendekatan studi kasus, metode penelitian kualitatif digunakan. Data dikumpulkan melalui observasi partisipan, wawancara mendalam dengan 10 pedagang di pasar, 1 pejabat pemerintah, 5 pengunjung, serta kajian dokumen. Temuan menunjukkan bahwa Pasar Haji Sani memegang peran signifikan dalam perekonomian lokal dengan mempekerjakan 128 orang yang meliputi pedagang, penjaga parkir, dan petugas kebersihan. Pasar ini juga membantu menstabilkan harga dan selanjutnya menciptakan apa yang dikenal sebagai efek pengganda ekonomi bagi berbagai sektor lokal seperti pertanian dan transportasi. Secara ekonomi, para pedagang melaporkan pendapatan yang memungkinkan mereka memenuhi kebutuhan pokok, mengakses layanan kesehatan (BPJS), serta membiayai pendidikan tinggi anak-anak mereka. Selain keuntungan ekonomi, pasar berfungsi sebagai ruang sosial yang memungkinkan interaksi antarmasyarakat dari berbagai latar belakang sosial. Studi ini menekankan perlunya revitalisasi pasar tradisional untuk meningkatkan daya saing dan menarik minat konsumen dalam menghadapi persaingan pasar moder
The Influence of Accountability, Website Security, and Social Influence on Donation Intention in Crowdfunding: The Mediating Role of Trust
Full text linkPurpose: This study aims to examine the influence of accountability, website security, and social influence on donation intentions in “Dompet Dhuafa” crowdfunding, with trust serving as a mediating variable.
Method: This is a quantitative study, utilising data collection through a questionnaire. The sampling technique employed was non-probability sampling, with a total of 130 respondents, all of whom were young Muslim individuals. This group was chosen due to their growing engagement with digital platforms and their increasing role as active donors in online Islamic philanthropy. Focusing on young Muslims also distinguishes this study from previous research, which often overlooks age-specific behavioural dynamics in crowdfunding contexts. The research was analysed using the Partial Least Square-Structural Equation Modelling (PLS-SEM) approach with the aid of the SmartPLS 4 analytical tool.
Finding: The results showed that accountability and website security have a significant direct effect on donation intentions and trust, while social influence does not affect donation intentions but has a significant impact on trust. Based on the indirect effect test, trust was found to mediate the relationship between accountability, website security, social influence, and donation intentions.
Novelty: These findings will create a gap that will be evaluated for consistency in elucidating their impact on an individual\u27s intention to donate online
Waqf-Based Endowment Funds as a Sustainable Financing Model to Enhance University Education Quality in Indonesia
Full text linkSustainable financing remains a significant challenge for higher education institutions in Indonesia as they strive to enhance educational quality and compete with leading global universities. One promising solution is the utilization of waqf-based endowment funds as a source of long-term financing. This paper aims to explore the financing and management models of waqf endowment funds to support the improvement of university education quality. The study examines the role of waqf endowment funds in creating a stable financial system and identifies the opportunities and challenges associated with implementing this model in Indonesia. To achieve these objectives, the research employs NVivo 12 qualitative data analysis software to systematically analyze relevant literature and data, allowing for the coding and categorization of themes related to waqf financing. The findings are expected to provide valuable insights for policymakers and universities regarding the governance of waqf endowment funds and how this model can be applied to advance infrastructure, research, and teaching in higher education institutions. Furthermore, this study highlights the importance of collaboration between the government, universities, and society to optimize waqf endowment funds as a sustainable economic resource that positively impacts the quality of national education in Indonesia
Determinants of Indonesian Halal Food Exports: a Study on Crop Products in 1996-2021
No full textThis study examines Indonesia\u27s halal food export value with a focus on crop products from 1990 to 2021. Indonesia, as a country with the largest Muslim population, has great potential in the global halal food market. However, challenges such as lack of halal product development and competition from other countries need to be overcome. This study uses time series data from the World Bank and applies the Autoregressive Distributed Lag (ARDL) model with Eviews 9 as an analysis tool to analyze the effect of capital, labor, economic openness, and inflation variables on export value. The results show that capital has a significant positive effect both in the short and long term, while labor shows a negative effect in the short term but positive in the long term. Economic openness has no significant effect on export value, while inflation shows a negative effect in the short run and positive in the long run on exports. This study provides insights into the factors affecting Indonesia\u27s halal food exports and their implications in the context of international trade
The Impact of FDI, Unemployment, Carbon Emissions, and Inflation on Economic Growth in OIC Countries: Toward Long-Term Economic Resilience
Full text linkThis study investigates the impact of Foreign Direct Investment (FDI), unemployment, carbon emissions, and inflation on economic growth in 18 selected OIC (Organization of Islamic Cooperation) member countries from 2014 to 2023. Employing static panel regression (Fixed Effect Model), dynamic panel regression (GMM), and Moderated Regression Analysis (MRA), the study examines both direct effects and the moderating role of inflation. The results reveal that FDI has a positive effect in static models but a negative effect in dynamic models, suggesting potential crowding-out effects. Unemployment consistently has a negative impact on economic growth, while carbon emissions show a positive association, indicating trade-offs between environmental sustainability and growth. Inflation positively influences growth and acts as a quasi-moderator. By integrating Neoclassical Growth Theory and the Resilience Economy framework, this study offers a comprehensive perspective for policymakers in OIC countries to formulate balanced strategies for sustainable development
Analysis of the Performance of Islamic Commercial Banks in Indonesia in 2021-2023: Maqashid Sharia Index and Islamicity Performance Index Approach
Full text linkBackground: The Islamic banking sector in Indonesia has seen rapid growth. To support this expansion, performance measurement methods adhering to Shariah principles are essential.Objectives: This study evaluates the performance of Islamic Commercial Banks (ICBs) in Indonesia using the Maqashid Syariah Index (MSI) and the Islamicity Performance Index (IPI).Novelty: Unlike previous studies, this research addresses gaps in prior findings and reexamines the alignment of Islamic banking practices with Shariah principles.Research Methodology / Design: A purposive sampling technique was employed to select 10 ICBs. The study adopts a quantitative approach using secondary data from financial reports and applies descriptive analysis to assess bank performance.Findings: The results reveal that many ICBs in Indonesia do not fully align with MSI or IPI metrics, indicating inconsistencies in achieving Shariah objectives.Implication: Further research with expanded sample sizes and refined methodologies is essential. Islamic banks must enhance the transparency and comprehensiveness of financial disclosures to better reflect Shariah compliance. Additionally, theoretical advancements are required to bridge gaps in current performance measurement frameworks
Antecedent of Revisit Intention for Halal Destinations
No full textThe importance of religiosity in halal tourism is the reason for this study. Religiosity is expected to influence and strengthen tourists\u27 intention to return to halal destinations. The purpose of this study is to analyze the moderating role of religiosity in the influence of Electronic-Word of Mouth and Theory of Planned Behavior on revisit intention. Using the Purposive Sampling method, researchers obtained valid data from 201 respondents. The collected quantitative data was processed with the help of SmartPLS, to test the direct and moderation relationships between the research variables. The results of the study show that E-WOM influences revisit intention, and religiosity influences revisit intention. The results of this study can be utilized by halal destination managers, so that they can monitor reviews in E-WOM that influence revisit intentio
Governance and Tax Strategies: The Role of Firm Size in Affecting Tax Aggressiveness among Sharia-Listed Firms
No full textThis study investigates how corporate governance mechanisms influence tax aggressiveness in sharia-compliant firms listed on the Jakarta Islamic Index (JII), while examining the moderating role of firm size. Using a census sampling approach covering all JII-listed companies from 2022 to 2024, the research analyzes 90 firm-year observations. Multiple regression and moderated regression analyses test the direct and interaction effects of institutional ownership, independent commissioners, and audit committees on tax aggressiveness. The findings reveal that while institutional ownership does not significantly affect tax aggressiveness, the presence of independent commissioners and effective audit committees significantly reduces it. Firm size does not moderate these relationships, indicating that robust governance practices remain essential regardless of organizational scale. Importantly, this study integrates Islamic ethical principles such as justice (ʿadl), trustworthiness (amanah), accountability (hisbah), and the pursuit of public welfare (maslahah) to highlight the ethical dimensions of tax compliance in sharia-compliant firms. The results underscore the need for governance frameworks that not only meet regulatory requirements but also align with Islamic moral obligations, promoting transparency, fairness, and responsible corporate behavior