{"title":"Factors Influencing Muslim Customer Loyalty: The Mediating Effect of Muslim Customer Satisfaction in Indonesia","authors":"Devy Leony Olyvia, Darwanto Darwanto","doi":"10.22515/shirkah.v8i1.441","DOIUrl":"https://doi.org/10.22515/shirkah.v8i1.441","url":null,"abstract":"McDonald's held the second position in the Top Brand Index for five consecutive years from 2015 to 2020 conducted by Frontier Consulting Group, with participation from customers in eight major cities in Indonesia, including Semarang city. McDonald's experienced a decline in customer loyalty, which poses a challenge for the restaurant to maintain its customer base and attract new customers. Therefore, this research aims to examine the factors that influence Muslim customers' loyalty to McDonald's. The study focuses on Muslim customers with McDonald's subscriptions in Semarang City, with a sample of 144 respondents. The analysis technique used was the Structural Equation Model-AMOS. The study reveals that halal labeling, product quality, and Muslim customer satisfaction have a significant effect on Muslim customer loyalty. The quality and price of the product have a significant effect on Muslim customer satisfaction. Muslim customer satisfaction as an intervening variable cannot mediate all variables on Muslim customer loyalty. Hence, producers should focus on products of al-tayyibat.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"155 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74058386","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bank Credit in Financial Cycle during COVID-19 Pandemic: Dilemma from Indonesia","authors":"E. Basmar, Carl M. Campbell III, E. Basmar","doi":"10.22515/shirkah.v7i3.484","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.484","url":null,"abstract":"Bank credit is crucial to boost economic growth and preserve financial stability during the COVID-19 pandemic. However, a previous study has yet to establish the state of bank credit in the financial cycle during the COVID-19 pandemic in Indonesia. This study discovered different categories of banking credit dilemmas during the COVID-19 pandemic in Indonesia, including mild category, moderate category, heavy category, and very heavy category. During the global pandemic from 2019 to July 2021. This study used monthly development of the Ed Waves Index model through the Financial Report of Bank Indonesia. The pressure dilemma includes moderate category (1 time), mild category (1 time), heavy category (2 times), and very heavy category (1 time) which indicate that there is serious pressure on financial stability and economic growth in Indonesia during the outbreak. This research makes an important contribution to the banking sector and Bank Indonesia in controlling the bank's soundness through distribution channels of credit and a stable financial cycle as well as economic growth in Indonesia during the COVID-19 pandemic.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"123 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79472026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Alan Nur, Annisa Rahma Febriyanti, Sulistya Rusgianto, S. Herianingrum
{"title":"Islamic Banking Financial Inclusion and Tax Revenue in OIC Countries: To What Extent do They Correlate?","authors":"Muhammad Alan Nur, Annisa Rahma Febriyanti, Sulistya Rusgianto, S. Herianingrum","doi":"10.22515/shirkah.v7i3.498","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.498","url":null,"abstract":"Tax revenue of Organization of Islamic Cooperation (henceforth OIC) countries has not reached the global average, and so has the financial inclusion. Notwithstanding this fact, few researchers have addressed the effect of financial inclusion on tax revenue in the context of Islamic finance while it is undeniably having significant connection to the real sector. Drawing on this crucial issue, the present study calls into the possible effect of Islamic banking financial inclusion on tax revenue in eleven countries of OIC membership consisting of Indonesia, Jordan, Kazakhstan, Kuwait, Malaysia, Nigeria, Oman, Pakistan, Saudi Arabia, Turkey, and the United Arab Emirates in the period of 2013 to 2019. The data were analyzed under the procedure of panel data regression using fixed effect model. The result depicted that Islamic banking financial inclusion, in terms of financial access and financial usage, had no significant effect on tax revenue of the OIC countries. This result is reasonable, since Islamic banking financial inclusion still requires massive promotion particularly by the OIC countries included in this study. Hence, this study leaves an implication for OIC countries to foster Islamic banking financial inclusion as a crucial effort to increase the tax revenue, in which Islamic banks play a promising role for sharia-compliance-based financial transactions in the recent years.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"65 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85779577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Prastiwi, Asep Maulana Rohimat, Helti Nur Aisyiah
{"title":"Consumer Reviews, Ratings, and Gamification on Muslim Millennials’ Online Purchasing Decisions","authors":"S. Prastiwi, Asep Maulana Rohimat, Helti Nur Aisyiah","doi":"10.22515/shirkah.v7i3.467","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.467","url":null,"abstract":"Since previous research on the relationship among Online Consumer Review (OCR), ratings, gamification, and online purchasing decisions had mixed results, this study involves trust as a mediating variable, which has never been explored in previous research, to explore online consumer reviews, ratings, and gamification in increasing trust of Muslim Millennials for online purchasing decisions. Investigating Muslim millennials in Central Java and Yogyakarta, 114 questionnaire results were analyzed using Structural Equation Model. The results showed that OCR and ratings affect Muslim Millennials' online purchasing decisions at Shopee, while gamification cannot affect them. Trust in this research model could not affect purchasing decisions. Thus, the trust could not be a mediating variable. The results of this study will be useful for Micro, Small and Medium Enterprises (MSMEs) and the online shop’s development team to maintain the image of an online store.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"162 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86183142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kholilah Kholilah, Kurniawati Meylianingrum, Tiara Juliana Jaya, Ahmed Tahiri Jouti
{"title":"Halal Value Chain in the Holding Business: The Experience of Islamic-based School (Pesantren) in Indonesia","authors":"Kholilah Kholilah, Kurniawati Meylianingrum, Tiara Juliana Jaya, Ahmed Tahiri Jouti","doi":"10.22515/shirkah.v7i3.522","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.522","url":null,"abstract":"This study constitutes a novel concept that provides a complete analysis of the holding business at an Islamic-based school (Pesantren) and the halal value chain. The halal value chain provides a standard for sharia-compliant production, distribution, or consumption activities. This case study was based in Pesantren Al-Rifa’ie, addressed in Malang East Java Indonesia. This study collected data through interviews, contract data, SOP, financial statements, BMT reports, and observation. The data were analyzed using the heuristic case study. The results showed that the holding business at Pesantren Al-Rifa'ie was in the form of a cooperative since it combines business units. The cooperative has funding, financing, and BMT activities. BMT is profit-oriented through establishing business units. Business units supporting the halal value chain were husbandry, bus rentals, and One Pesantren One Product (OPOP) starting from the input, process, and output. This research strengthens the New Institutional Theory and provides insight into the need for technical requirements to establish the company holding in Pesantren.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"85 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86843038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Arum Pujiastuti, Saefudin Saefudin, Rizki Dini Shandra Yunita, Yuni Astuti
{"title":"Capital Structure Adjustment Speed in Indonesia: Does Sharia Compliance Matter?","authors":"Arum Pujiastuti, Saefudin Saefudin, Rizki Dini Shandra Yunita, Yuni Astuti","doi":"10.22515/shirkah.v7i3.483","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.483","url":null,"abstract":"Leverage Speed of Adjustment (henceforth SOA) has previously been studied by researchers; however, the examination of its connection with sharia law has been overlooked. The majority of the literature currently in circulation comes from the Middle East and North Africa (MENA) region and Malaysian markets, so its implications for businesses in Indonesia may not be applicable given local regulations and cultural norms. This study investigates the distinction in the debt levels and the SOA of firms in Indonesia based on compliance to sharia law. The Two-step Generalized Method of Moment (GMM) model was used to calculate the SOA in the leverage model. We discover that sharia compliance plays a role in stimulating the Indonesian firm’s level of debt and leverage SOA. To put it more precisely, sharia firms use less debt and have a slower SOA than conventional firms. Overall, Indonesian firms implement the dynamic trade-off theory in their leverage framework. Instead of relying on conventional debt, which is only available at certain levels, sharia firms must issue Islamic debt instruments to accelerate the speed of adjustment. Even after a robustness test using various sharia compliance approaches, our results remained consistent.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"238 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76871231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Religiosity or Income? Factors Driving Customer Buying Interest in Islamic Insurance Products","authors":"Dede Nurohman","doi":"10.22515/shirkah.v7i3.474","DOIUrl":"https://doi.org/10.22515/shirkah.v7i3.474","url":null,"abstract":"Despite the enormous potential represented by an 87% Muslim population and the growing welfare of the Muslim community in Indonesia, Islamic insurance has not grown rapidly during the past decades. The primary issues that hinder the growth of the Islamic insurance sector are thought to be people's level of income and religiosity. Therefore, this paper attempts to investigate the effect of religiosity and income on people's interest in buying Islamic insurance products. This study employed a quantitative approach with a questionnaire as a data mining technique. 200 residents of eight districts and cities in East Java, a province in Indonesia, participated as respondents in this study. The data analysis involved descriptive analysis, inferential analysis, classical assumption test, and hypothesis test. This study demonstrates that people's interest in buying Islamic insurance products is positively and significantly influenced by their religiosity and income, either partially or simultaneously. This result can be taken into account by the Islamic insurance sector when planning the best marketing plan, especially for the wealthy and fervently religious Muslim segment of society.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"94 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83896765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Syariful Anam, Rasikh Saifan Ahmad, Rezaeeyan Ali, Rina Rosia
{"title":"Waqf and Environment: A Bibliometric Analysis","authors":"Muhammad Syariful Anam, Rasikh Saifan Ahmad, Rezaeeyan Ali, Rina Rosia","doi":"10.22515/shirkah.v7i2.480","DOIUrl":"https://doi.org/10.22515/shirkah.v7i2.480","url":null,"abstract":"Despite the plethora of studies on environmental waqf in the literature, research objectives and results are still inconsistent. Therefore, this study maps the literature on environmental waqf to explore future research directions. Based on data from Scopus from 2001 to March 2022, bibliometric analysis using VOSviewer was used to create this mapping research system. This study visualized a map of co-authorship and co-occurrence of keywords. We present several aspects of the literature on environmental waqf, such as the number of publications per year, document type, journal, author, affiliation, country, subject, and topic. The environmental waqf research review is made up of 120 articles written by 160 authors who are affiliated with 116 institutions across 29 countries. These articles were published in 79 sources. The bibliometric results through the analysis of the keywords identified four research streams: waqf in sustainable development, regional planning, waqf governance in the agricultural sector, and cash waqf for welfare improvement. This study proposes future directions for environmental waqf research, focusing on the role of waqf in achieving the goal of sustainable development for environmental stability.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"46 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85936810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Meliana Eka Puji Lestari, Cenny Sanita Febiyanti, Muhammad Riyal Abdul Rohman, Fella Shasmita Hani Annisaa’, Adilnia Fifi Susanti, F. Medias
{"title":"Practical Implication of Zakat in Socio-economic Empowerment during the COVID-19 Pandemic","authors":"Meliana Eka Puji Lestari, Cenny Sanita Febiyanti, Muhammad Riyal Abdul Rohman, Fella Shasmita Hani Annisaa’, Adilnia Fifi Susanti, F. Medias","doi":"10.22515/shirkah.v7i2.482","DOIUrl":"https://doi.org/10.22515/shirkah.v7i2.482","url":null,"abstract":"The extent to which zakat has contributed to and been implicated in the socio-economic empowerment of Muslim countries has not been the subject of a literature review. This study analyzes the practical implications of zakat in the OIC countries during the COVID-19 pandemic from the existing literature. Data were obtained from Harzing's Publish or Perish to analyze the role of zakat involvement in the socio-economic community in OIC countries from 2019 to 2021. 31 scholarly studies on the topics of economics, health, and education illustrate the economic implications of zakat. The discussion on the implications of zakat includes poverty reduction, economic empowerment, and MSMEs improvement. Zakat helps to fund community health care. Zakat provides educational scholarships, and school infrastructure, and enhances the feasibility of school arrangements. This study could assist the government to recognize the importance of zakat for socioeconomic empowerment and help policymakers develop strategic strategies to increase zakat participation, particularly in Muslim countries.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82220748","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
B. Suseno, Indah Hartini Sofa, Mohammad Tri Widayanto, B. Basrowi
{"title":"Performance, Competence, Job Satisfaction, and Financial Compensation of Cosmetics Salesforce during the COVID-19 Outbreak","authors":"B. Suseno, Indah Hartini Sofa, Mohammad Tri Widayanto, B. Basrowi","doi":"10.22515/shirkah.v7i2.447","DOIUrl":"https://doi.org/10.22515/shirkah.v7i2.447","url":null,"abstract":"The COVID-19 pandemic caused a decrease in sales turnover for the cosmetic industry, causing salesforce performance to be unsatisfactory. The study developed a model to improve the performance of the cosmetics industry in Banten Province of Indonesia. This quantitative study employed SmartPLS 3.3.2 version to analyze the data obtained from 120 respondents through observations and questionnaire. The results of the empirical model with SEM-PLS revealed that competence has a significant positive effect on financial compensation, competence has a significant positive effect on salesforce job satisfaction, salesforce job satisfaction has a significant positive effect on salesforce performance, financial compensation has no effect on salesforce performance, and salesforce performance has no effect on financial compensation. It is recommended that the cosmetic industry recalculate the amount of compensation appropriately according to measurable performance to yield an impact on salesforce performance. This study highlights the importance of competence-based compensation for fostering self-improvement of employee.","PeriodicalId":31157,"journal":{"name":"Shirkah Journal of Economics and Business","volume":"65 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79762601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}