Journal of Islamic Monetary Economics and Finance最新文献_第10页

MULTIDIMENSIONAL RISK AND RELIGIOSITY TOWARDS INDONESIAN MUSLIMS’ SHARIA INVESTMENT DECISION 印尼穆斯林投资决策的多维风险与宗教性

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1321

I. P. Lestari, Wenang Ginanjar, Ari Warokka

引用次数: 6

DOES DIGITAL FINANCIAL INCLUSION MATTER FOR BANK RISK-TAKING? EVIDENCE FROM THE DUAL-BANKING SYSTEM 数字普惠金融对银行的风险承担有影响吗?来自双重银行体系的证据

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1320

Hasanul Banna, Rabiul Alam

{"title":"DOES DIGITAL FINANCIAL INCLUSION MATTER FOR BANK RISK-TAKING? EVIDENCE FROM THE DUAL-BANKING SYSTEM","authors":"Hasanul Banna, Rabiul Alam","doi":"10.21098/JIMF.V7I2.1320","DOIUrl":"https://doi.org/10.21098/JIMF.V7I2.1320","url":null,"abstract":"This paper examines the nexus between digital financial inclusion (DFI) and levels of bank risk-taking, using a sample of 283 commercial banks (Islamic and conventional) from six countries over the period 2011 to 2019 and deploying panel-corrected standard errors, two-stage least squares-instrumental variables and dynamic panel two-step generalized method of moments estimators. The findings suggest that Islamic banks take more risks than their counterpart conventional banks. The empirical evidence also indicates that an increase in the DFI index score reduces the overall level of bank risktaking and increases that of banking stability for commercial and conventional banks compared to Islamic ones. A strong association between DFI and bank risk-taking suggests that DFI not only reduces the default risk, leverage risk and portfolio risk of banks, but also increases financial mobility in the sample countries. Consequently, an inclusive digitalised banking industry ensures sustainable economic growth, which is likely to help maintain financial sustainability in times of crisis such as the Covid-19 pandemic. Our results are shown to be robust by various robustness checks. The study contributes to both the Islamic and conventional banking, as well as the digital financial inclusion, literature. The findings of the study provide various policy implications for policymakers and standard-setters in the countries examined.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"172 1","pages":"401-430"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77348610","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}

引用次数: 10

HALAL AWARENESS AND HALAL TRACEABILITY: MUSLIM CONSUMERS’ AND ENTREPRENEURS’ PERSPECTIVES 清真意识和清真可追溯性:穆斯林消费者和企业家的观点

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1328

Syayyidah Maftuhatul Jannah, Hasan Al-Banna

{"title":"HALAL AWARENESS AND HALAL TRACEABILITY: MUSLIM CONSUMERS’ AND ENTREPRENEURS’ PERSPECTIVES","authors":"Syayyidah Maftuhatul Jannah, Hasan Al-Banna","doi":"10.21098/JIMF.V7I2.1328","DOIUrl":"https://doi.org/10.21098/JIMF.V7I2.1328","url":null,"abstract":"The objective of this paper is to analyse the role of halal awareness, employing variables that can be both influential (determinant) and influenced (output). The study examines two perspectives, namely those from consumers and business actors. From a consumer perspective, this relates to the influence of halal awareness on the intention to purchase a halal product. Meanwhile, from the perspective of business actors, it considers how halal awareness affects the halal traceability of products. Halal traceability is also analysed from the consumers’ perspective as a moderating variable in the relationship between halal awareness and consumer purchase intentions. Questionnaires were distributed online and data were collected from 176 consumers and 95 entrepreneurs. SEM-PLS was then applied to analyse the data. The results show that halal awareness influences the consumers’ purchase intention and the halal traceability of the business actors. While the consumers’ halal awareness was determined by knowledge and halal certification. In contrast, religiosity has an insignificant influence on the consumers’ halal awareness. Meanwhile, the halal awareness of the business actors was influenced by knowledge, halal certification and religiosity. Halal traceability failed to moderate the relationship between halal awareness and consumer purchase intentions.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"1 1","pages":"285-316"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75585066","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}

引用次数: 8

THE REGIME SWITCHING OF CYCLE INSTABILITY OF ISLAMIC BANKING AND THE ECONOMY: EVIDENCE FROM INDONESIA, MALAYSIA, AND PAKISTAN 伊斯兰银行与经济周期不稳定性的政权转换:来自印度尼西亚、马来西亚和巴基斯坦的证据

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1362

Irfan Nurfalah, A. Rusydiana

引用次数: 3

STAR AND POOR FUND PHENOMENA IN ISLAMIC- AND CONVENTIONAL-FOCUSED FAMILIES: EMERGING COUNTRY EVIDENCE 以伊斯兰和传统为中心的家庭中的明星和穷人基金现象:新兴国家的证据

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1349

A. A. B. Atta, Ainulashikin Marzuki

{"title":"STAR AND POOR FUND PHENOMENA IN ISLAMIC- AND CONVENTIONAL-FOCUSED FAMILIES: EMERGING COUNTRY EVIDENCE","authors":"A. A. B. Atta, Ainulashikin Marzuki","doi":"10.21098/JIMF.V7I2.1349","DOIUrl":"https://doi.org/10.21098/JIMF.V7I2.1349","url":null,"abstract":"The aim of this study is to investigate star and poor phenomena and their impact on the flows of Islamic-focused family (IFF) and conventional-focused family (CFF). The sample includes the four emerging countries with the largest number of Islamic mutual funds from 2007 to 2018 (Saudi Arabia, Malaysia, Indonesia, and Pakistan). Panel regression analysis was used to examine the impact of dummy star and poor as independent variables, and family age, size, number of funds, past returns, and total risk as control variables for fund family flows. The results show that the dummy star has a significantly positive relationship with family flows. Family managers have succeeded in attracting more investors by using the strategy of advertising the best performing funds. However, in both, all families and IFF, the dummy poor has a negative relationship, but is insignificant. On the other hand, for CFFs, the dummy poor is significantly negative. This is because investors in IFFs, unlike those in CFFs, have more loyalty due to their moral and religious goals in addition to traditional goals. The novel finding of the study is the difference in the star phenomenon between the IFF and CFF. The findings are important for managers, as they will help them to create appropriate strategies to attract more flows and increase the assets under their management. In addition, the findings will help investors to direct their money to appropriate families.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"9 1","pages":"263-284"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81830422","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}

引用次数: 2

DOES ISLAMIC BANKING PROMOTE FINANCIAL STABILITY? EVIDENCE FROM AN AGENT-BASED MODEL 伊斯兰银行促进了金融稳定吗?来自基于代理的模型的证据

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-04-21 DOI: 10.21098/JIMF.V7I2.1323

Omer Faruk Tekdogan, B. Atasoy

{"title":"DOES ISLAMIC BANKING PROMOTE FINANCIAL STABILITY? EVIDENCE FROM AN AGENT-BASED MODEL","authors":"Omer Faruk Tekdogan, B. Atasoy","doi":"10.21098/JIMF.V7I2.1323","DOIUrl":"https://doi.org/10.21098/JIMF.V7I2.1323","url":null,"abstract":"In recent years, Islamic banking has come to the forefront as one of the fastest growing branches of the global financial industry. In this study, we evaluate whether the coexistence of Islamic and conventional banks promotes financial stability. In this respect, we evaluate two types of financial system: (1) one solely comprising conventional banks, and (2) a dual system in which conventional and Islamic banks coexist and interact with each other. Accordingly, we designed two different agentbased models representing these systems and built two artificial banking networks consisting of both conventional and Islamic banks. We then ran simulations and examined possible contagion effects and the causes of bank failures by employing volatility spillover methodology. We found that Islamic banks significantly promote stability by providing liquidity during financial shocks and creating more liquidity per asset compared to conventional banks. We also found that they tend to hold more cash than conventional banks, which cushions the effects of possible liquidity squeezes. Conventional banks, on the other hand, tend to have reserve deficits, which rise during shock periods. We conclude that the coexistence of both bank types creates a win-win situation and contributes to financial stability.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"180 1","pages":"201-232"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77329939","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}

引用次数: 1

THE SIGNIFICANCE OF ISLAMIC SOCIAL FINANCE IN STABILISING INCOME FOR MICRO-ENTREPRENEURS DURING THE COVID-19 OUTBREAK 2019冠状病毒病疫情期间，伊斯兰社会金融在稳定微型企业家收入方面的意义

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-03-26 DOI: 10.21098/JIMF.V7I0.1307

N. Azman, T. A. Masron, Haslindar Ibrahim

引用次数: 11

ISLAMIC, GREEN, AND CONVENTIONAL CRYPTOCURRENCY MARKET EFFICIENCY DURING THE COVID-19 PANDEMIC 2019冠状病毒病大流行期间伊斯兰、绿色和传统加密货币市场效率

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-03-26 DOI: 10.21098/JIMF.V7I0.1315

Emna Mnif, Anis Jarboui

{"title":"ISLAMIC, GREEN, AND CONVENTIONAL CRYPTOCURRENCY MARKET EFFICIENCY DURING THE COVID-19 PANDEMIC","authors":"Emna Mnif, Anis Jarboui","doi":"10.21098/JIMF.V7I0.1315","DOIUrl":"https://doi.org/10.21098/JIMF.V7I0.1315","url":null,"abstract":"Unlike conventional cryptocurrencies, Islamic ones are new technologies backed by tangible assets and are characterised by their fundamental values. After the COVID-19 outbreak, cryptocurrency responses have shown different behaviour to stock market reactions. However, there is a lack of studies on the efficiency of Islamic and green cryptocurrencies during the pandemic. This paper attempts to analyse the behaviour of three typical families of cryptocurrencies (conventional, Islamic, and green) extracted according to their availability in daily frequencies during COVID-19. For this purpose, their efficiency levels are studied before and after the outbreak by employing multifractal detrended fluctuation analysis (MFDFA) to make the best predictions and strategies. The inefficiency of the cryptocurrencies is assessed through a magnitude of long-memory (MLM) efficiency index, and the impact of COVID-19 on their efficiency is evaluated. The primary results show that HelloGold was the most efficient market before the COVID-19 outbreak and that subsequently Ethereum has been the most efficient. In addition, the findings reveal that the cryptocurrency reactions are not similar and show more resilience in the Ethereum and Litecoin markets than in other cryptocurrency markets. The main contribution of this study is the evaluation of the impact of COVID-19 on the various classes of crypto money. This work has practical implications, as it provides new insights into trading opportunities and market reactions. Moreover, the work has theoretical implications based on its evaluation of three distinct models from different doctrine viewpoints.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73234678","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}

引用次数: 7

HOW HAS THE COVID-19 PANDEMIC AFFECTED THE REAL AND MONETARY SECTORS IN INDONESIA? 2019冠状病毒病大流行如何影响印度尼西亚的实体和货币部门?

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-03-24 DOI: 10.21098/JIMF.V7I0.1361

Patria Yunita

{"title":"HOW HAS THE COVID-19 PANDEMIC AFFECTED THE REAL AND MONETARY SECTORS IN INDONESIA?","authors":"Patria Yunita","doi":"10.21098/JIMF.V7I0.1361","DOIUrl":"https://doi.org/10.21098/JIMF.V7I0.1361","url":null,"abstract":"This study aims to find empirical evidence for the effects of the Covid-19 pandemic on the Indonesia real and monetary sectors. The real sector condition is represented by fluctuations in the farmer exchange rate in ten provinces; this rate has direct and indirect effects on farmers’ welfare. On the other hand, the condition of the monetary sector is illustrated by shifts in the consumer confidence index due to fluctuations in Islamic and conventional financial system indicators. We used a panel regression model to examine the farmer exchange rate and a binary logistic regression model to examine the consumer confidence index. The results statistically demonstrate that the pandemic conditions have affected both the real sector and the consumer confidence index of the Islamic financial sector. However, the pandemic has not affected the consumer confidence index of the conventional financial sector. This phenomenon exists because of the speculative action from conventional investors in taking risks and opportunities, which are forbidden in the Islamic context. The indicator which shifts the conventional consumer confidence index is the composite stock index (IHSG), while the Islamic consumer confidence index is shifted by changes in the Islamic money market rate, the Jakarta Islamic index and the Islamic banking capital ratio. Our empirical findings conclude that, in such a critical situation, the behaviour of conventional and Islamic consumers is totally different, thus influencing consumer confidence in each sector.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"29 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88492611","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}

引用次数: 2

DETERMINANTS OF INDONESIAN CONVENTIONAL AND ISLAMIC BANK DEPOSITOR TRUST DURING THE COVID-19 PANDEMIC COVID-19大流行期间印度尼西亚传统银行和伊斯兰银行存款人信任的决定因素

Journal of Islamic Monetary Economics and Finance Pub Date : 2021-03-24 DOI: 10.21098/JIMF.V7I1.1352

E. Cahyono, L. Rani, M. Mardianto

{"title":"DETERMINANTS OF INDONESIAN CONVENTIONAL AND ISLAMIC BANK DEPOSITOR TRUST DURING THE COVID-19 PANDEMIC","authors":"E. Cahyono, L. Rani, M. Mardianto","doi":"10.21098/JIMF.V7I1.1352","DOIUrl":"https://doi.org/10.21098/JIMF.V7I1.1352","url":null,"abstract":"Depositor trust plays an essential role in the banking sector. The main objective of this study is to test several factors that significantly affect depositors’ confidence in conventional and Islamic banks in Indonesia during the COVID-19 pandemic. We conducted qualitative research with a sample of 217 customers who had a minimum of two bank accounts, one conventional, and one Islamic. In a questionnaire, customers were asked their opinions related to indicators of the variables studied, such as depositor trust, and their perceptions of inflation, conventional bank interest, the equivalent yield rate of Islamic banks, and industry perception Productivity Index. The results of the questionnaire were analysed using the partial least squares (PLS) method. The PLS analysis results show that the indicators related to conventional bank interest and the equivalent yield rate of Islamic banks significantly affected depositors’ trust and hands. In other words, customers were influenced when making bank deposits by the factors related to conventional bank interest and the equivalent yield rate of Islamic banks. The external aspect of the industrial production index based on the PLS test had a significant effect on depositors’ trust in both types of bank. In contrast, the external factor of inflation did not significantly affect depositors’ trust in either conventional or Islamic banks. Therefore, based on the PLS-SEM results, conclusions can be drawn regarding the factors influencing depositor trust.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"318 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72539110","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}

引用次数: 4