Shirkah: Journal of Economics and Business
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Malmquist Productivity Index on Islamic Economics and Finance Research
No full textThis study proposes to review the implementation of Malmquist Productivity Index (MPI) in such research publications on the theme of Islamic economics and finance. It employs descriptive statistical analysis based on selected 102 article publications. The entire sample publications have published from 2006 to 2019. The results show that research using the MPI method has still been dominated by Islamic banks issues (73%) followed by Islamic insurance or takaful issue (12%), then zakat (8%), and Islamic microfinance issue (4%). The rest are issues about halal industry, waqf and Islamic REIT. Malaysia, Indonesia and Pakistan are the 3 countries with the most study areas compared to other countries. In addition, many MPI applications are implemented along with the use of DEA methods for measuring efficiency. The most approach used in 102 studies is the production and intermediation approach. Keywords: Malmquist Index, productivity, Islamic Economics, financ
Kuznet’s Hypothesis and Ibn Khaldun’s Socio-Economic Dimensions
No full textThis study aims to prove the relationship between the hypothesis of Kuznets and Ibn Khaldun's socio economic dimension and income inequality. The object employed in this study is five municipal districts in Yogyakarta with the highest value of inequality throughout Java. This research utilizes the data panel which is a combination of annual time series of data from 2004-2017 and cross section of data from the five municipal districts in Yogyakarta. In this study, dynamic data panel regression is performed with the Generalized Method Moment (GMM) Arellano Bond. The relationship of the economic dimension of Ibn Khaldun and income inequality has been used to calculate income inequality Theil Entropy index which is being the dependent variable, and other variables as proxy for each dimension in Ibn Khaldun's socio-economic dimension models. The result of this study indicates that the linkage between Kuznets's hypothesis and Ibn Khaldun's socio-economic dimensions is similar since the economic growth shows insignificant variable resulted in both models. Keywords: Kuznets hypothesis, Ibn Khaldun's socio-economic dimensions, Entropy Theil Index, Generalized Moment Method (GMM) Arellano Bond
Macro Economic Challenges and Third Party Funds of Islamic Commercial Banks in Indonesia
No full textThis article aims to determine the effect of inflation, the BI Rate, the exchange rate of the rupiah to the US dollar, and the amount of money supply for Third Party Funds (TPF) in Indonesians’ Islamic Banks during 2013-2016. This research method uses multiple regression analysis with time series data; gathering data from 48 samples of which are monthly data on the variables. The result of this research find that the inflation and exchange rate variables have no significant effect on TPF, while the BI Rate variable and the money supply have a significant effect on TPF. In doing so, Islamic banking can pay serious attention to the BI rate and the money supply and in this study the BI rate on the direction of TPF. Keywords: inflation, BI rate, exchange rate, Third Party Fund
Bank Wakaf Mikro and Creative Economics in Pesantren Buntet
No full textThe launch of the Bank Wakaf Mikro (Micro Wakaf Bank/BWM) at the pesantren by the Financial Services Authority (OJK) has received a positive response to realizing economic opportunities in the pesantren. This study aims to examine the role of pesantren in empowering creative economics through the BWM program. This study was conducted by doing in-depth observations and interviews. The researchers gathered data using purposive sampling and snowball sampling techniques. The research findings illustrate the presence of BWM at the pesantren Buntet, Cirebon, West Java, Indonesia has provided a new forum, both for the leaders of the pesantren and the community around the pesantren to carry out their economic potential. Communities surrounding the pesantren argue that BWM has been able to overcome the difficulties in accessing financing needs on a micro-scale. However, the BWM needs to increase the amount of funding and products to follow customers' needs in order to create more promising business variations. Keywords: pesantren, OJK, micro bank, Buntet, Cirebo
Social Embeddedness and Economic Behaviour in Pesantren Mlangi
No full textIn contrast to global research on the relationship between Islam and entrepreneurship, analyses which shows a negative trend, researches on this topic in Indonesia show different findings. Various researches show the positive impact of the teachings of Islam on Muslim entrepreneurial behaviour, including multiple studies conducted in Mlangi. Continuing the existing research, this research looks at the role of pesantren networks in entrepreneurial practices carried out by entrepreneurs as well as caregivers for pesantren in Mlangi. By using the social embeddedness theory, this research found out that there is a dialogue between rational choice, social context and pesantren networks in the business run by entrepreneurs cum caregivers of pesantren in Mlangi. Keywords: social embededdness), Mlangi, pesantren entrepreneu
Carbon Costs of Indonesian Forested Land Conversion to Oil Palm Plantations
No full textThis article analyzes the loss of carbon dioxide (CO2) released in the forest conversion to oil palm plantations. This research data gathered from the relevant secondary data and relate published reports. This research finds that a loss of release of carbon dioxide (CO2) per hectare of US 14,000 carbon price of USD3 and US $ 19,600 in carbon price of USD4. In addition, this conversion also has a significant impact on global warming (GWP) and global climate change. Keywords: oil palm plantation, CO2 release, GWP, climate change.Â
Creative Industry Development in Pesantren Tebuireng
No full textFilm, short movie, and animation are one of the sub-sectors in creative industry which are importantly considered for development of Indonesia’s creative economy. Pesantren (Islamic boarding school) have opportunity to get involve it. Kopi Ireng (Komunitas Photography Tebuireng, Tebuireng Photography Community) inspired Tebuireng santri to establish production house, namely Maksi (Rumah Produksi Tebuireng, Tebuireng Production House). Kopi Ireng has won many competitions while Maksi has produced two movies both Binar and Sakinah. Both Kopi Ireng and Maksi are an effort to regenerate the progress of film industry in Indonesia, especially in pesantren. Film in pesantren is something new which is sometimes considered unusually. Some of pesantren claimed that film activity will break the old tradition of santri and pesantren in studying Islamic studies. Both Kopi Ireng and Maksi believe that film is the way to spread dakwah and origin culture of Indonesia in the era of 4.0 industrial revolution. Keyword: 4.0 era, creative industry, film, Pesantren TebuirengÂ
Conventional Home Loan and Islamic Home Financing in Comparative Perspective
No full textThis article aims to comparatively discuss conventional home loan (Kredit Perumahan Rakyat/KPR) and Islamic home financing (Pembiayaan Pemilikan Rumah Syariat/PPRS), locating in Bank Central Asia (BCA) and Bank Syariah Mandiri (BSM). Qualitative narrative of formal procedural system of owning home of the mortgages critically analyzed aiming to get clear-cut the differences both loans. This paper confirms that BCA uses the interest system in providing mortgage (KPR) and does not concern on the use of the funds. BSM generally has implemented murabaha scheme (deferred payment sale). For the late paying installments, both banks have applied quite different procedure systems.Keywords: mortgages, home loan, KPR, PPR
Implanting Religious Practices: Economic Behavior of Kemloko Tobacco Farmers
No full textTobacco from Kemloko Village has expressively attracted the attention of large companies such as Gudang Garam, Djarum, Sukun, Djambu Bol, Noroyono, and Bentoel. The Kemloko Village Community mostly works as a tobacco farmer, which is as many as 64.8% of total residents. In addition to these economic activities, the people of Kemloko Village are also active in carrying out traditional religious rituals (congregational prayers, tahlil dhikr and grave pilgrimage, ritual recitation, and slametan) led by village kyai. The kyai concurrently plays a role as important figures in the community, where the santri and society learn to adapt the outside realities, including the economic sphere. This article discusses the complex relationship of tobacco economic activity and the religious practices of the Kemloko Village community, arguing that the two factors makes traders (baskets and bosses) take advantage of the religious behavior of the elder kyai (as a source of authority) while the farmers get more profits. Keywords: tobacco farmers, religious practice, kyai, cultural brokerageÂ
Making Economics of Piety: Fashion, Lifestyle and Identity in Pop-Islamism Turn
No full textThe emergence of young Muslims since the last decade has led Muslim industry to grow rapidly into the market bringing new social era of Islamic fashion. What is the role of religious piety boosting the production the Muslim fashion industry? This article argues that Muslim fashion have embodied within economic part of religion. In addition, this glowing of the industry has been supported by the blooming of such factors as media (Muslim magazines), Muslim designers, Muslim communities, and Muslim fashion stores. The industry of Muslim fashion ultimately becomes one of the most promising industries in fashion retail in Indonesia and other Muslim majority countries. Keywords: Muslim fashion, lifestyle, market IslamÂ