International Journal of Islamic Economics and Finance最新文献

{"title":"SKY’S THE LIMIT? ACCRUAL AND CASH-BASED DETERMINANTS OF U.S. AND EUROPEAN AIRLINE MARKET VALUATION","authors":"Philip A. Slater, Bert Zarb","doi":"10.18374/jife-23-1.2","DOIUrl":"https://doi.org/10.18374/jife-23-1.2","url":null,"abstract":"","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73527357","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":"Assessment of financial system and economic growth: An empirical evidence from Ghanas stock market","authors":"Kofi Asiamah Samuel","doi":"10.5897/jeif2022.1184","DOIUrl":"https://doi.org/10.5897/jeif2022.1184","url":null,"abstract":"The importance of a country’s financial system to its economic well-being cannot be underestimated. This paper seeks to investigate whether causation exists between Ghana’s financial system and economic growth. Ghana’s financial system was measured using the efficiency, depth, and stability of the stock market, while economic growth was measured as the Gross Domestic Growth (GDP) per capita growth. The measurement variables were purposively sampled from 2008 to 2020, spanning thirteen years of time series data. The granger causality approach was employed to test the financial system’s and economic growth’s causation. In analysis the data, the study employed the Augmented Fuller Dickey (ADF) and Phillip Perron (PP) to test the stationarity of the series, the Jerque Bera Variable to test the normality of the data and the VAR and Johansen cointegration to test the order of integration among the variables. The statistical test revealed that the variables were not cointegrated at level; there was a unit root in the series. There was no long or short run relationship among the variables. Furthermore, the regressors’ depth, efficiency, and stability of the stock market as proxies for the financial system of Ghana do not cause economic growth. It is recommended that regulatory bodies should pursue policies that would improve the effectiveness, efficiency, depth, and stability of other aspects of the country’s financial system and focus less on the stock market due to the discovered relationship between the stock market and economic growth.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"2016 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87849024","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":"Analysis of the impact of renewable energy use on GDP and employment in Angola: An error correction model approach","authors":"Telly Yacouba, Xuezhi Liu","doi":"10.5897/jeif2023.1189","DOIUrl":"https://doi.org/10.5897/jeif2023.1189","url":null,"abstract":"This paper explores the impact of renewable energy on Angola's GDP and employment. The study used the Autoregressive Distributed Lag (ARDL) and error correction models with data on renewable energy use, gross domestic product, unemployment rate, industry employment, vulnerable employment, labor force participation rate and gross fixed capital formation. This note contributes to the existing literature by investigating the effects of renewable energy use on vulnerable employment in a single developing country like Angola. All the data gained stationarity at first differentiation. Our analysis revealed that renewable energy use shares a causal long-run relationship with the gross domestic product, unemployment rate, vulnerable employment, and labor force participation rate. The short-term analysis exhibits a causal one-way relationship ranging from renewable energy use to vulnerable employment, labor force participation rate, and gross fixed capital formation. Our findings suggest that renewable energy use will harm vulnerable employment and labor force participation rate but improve gross fixed capital formation in the short run. However, there is no significant relationship ranging from renewable energy use to industries' employment, GDP, and unemployment in the short term. Overcoming the mixed effects of using renewable energy on employment recommends investing in research and development of the renewable energy sector, which could add to the drop in unemployment and the quality of jobs. The country's leaders could draw inspiration from countries like the People's Republic of China, Brazil, and India. Infrastructure development, skills training, and technical support should be the primary emphasis of policy initiatives. In its sustainable development policy, the government must consider that investing in the agriculture sector might add to the country, whether for renewable energy production, agricultural productivity, or jobs creation. The country would benefit from accelerating industrialization while promoting renewable energy use and on-site processing of raw materials.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"121 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74942189","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":"Problematics of Mudharabah Financing at PT BPRS Aman Syariah Lampung","authors":"Dia Puspitasari","doi":"10.32332/ijie.v4i02.6074","DOIUrl":"https://doi.org/10.32332/ijie.v4i02.6074","url":null,"abstract":"This article describes how the problems faced by management in the implementation of mudharabah financing at BPRS Aman Syariah Lampung. The research method used is a qualitative research method in which the primary data is obtained from the results of interviews conducted with the leadership and stakeholders of Islamic banks. And then the data will be analyzed using content analysis. The results of this study indicate that there are several problems faced by Islamic bank management when deciding to apply mudharabah financing. Mudharabah is the only contract that uses the principle of profit sharing. However, this problem arises when the fact is that this financing is not very attractive to customers. Ideally, profit sharing is a mechanism that dominates products in Islamic banks. But in reality, the profit sharing mechanism does not show a high enough percentage, it even tends to be low. The cause is the high level of risk in mudharabah financing. From the customer side, there are customers with moral hazard, lack of transparency when providing financial reports to the bank. This results in the amount of profit sharing distributed which tends to be flat and not in accordance with the portion it should be. This happens because of the low level of honesty on the part of the customer so that it damages the mudharabah financing contract from both parties.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90557223","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":"Bridging Islamic and Conventional Finance through Integration of Knowledge (IoK): The Potential of the Third Sector","authors":"Jasmin Omercic","doi":"10.18196/ijief.v6i1.14712","DOIUrl":"https://doi.org/10.18196/ijief.v6i1.14712","url":null,"abstract":"Finance is integral to civilizational prosperity yet has impacted the global development of recent centuries, proved inherently inconsistent, and created multiple issues, i.e., inequalities. In this regard, Islamic finance (IF) offers solutions. Moreover, contemporary appraisals of the Integration of Knowledge (IoK) methodology represent a novel alternative to extant challenges and issues. The paper’s objectives are, therefore, to propose an IoK model of Islamic and conventional financial (CF) convergence with leverage to fintech and demonstrate the potential of the waqf sector for such convergence and its equivalent revival and reform along such methodological contours. This paper is a methodological contribution. However, library research, critical content analysis, and heterodox methods of concretization, synthesis, and transdisciplinary analytical reasoning substantiate the paper’s methodology. Islamic sources of knowledge, i.e., Qur’an, justify this study’s unorthodox methodology. A background depicts the CF problems and persistent issues that justify alternatives. It is followed by rationalizing IE development via IoK to converge IF and CF. The IoK model developed for IE development follows and is schematically demonstrated as novel findings of this paper to bridge the gap between IF and CF and leverage waqfs’ role and potential. Greater reference to waqf projects institutionalized implications for IF and integration with CF. Further, leveraging waqf and even fintech as an indicator of digitalization within the IoK model has implications for attaining the defined maqāṣid and developing IE genuinely. A conclusion summarizes and provides actionable recommendations linked with the IoK model’s objectives to reform extant IF and conventional practice based on sound Islamic philosophical foundations and maqāṣid-oriented envisioning of IE development.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41532895","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":"Interaction of Customer Satisfaction and Retention of Digital Services: PLS Evidence From Indonesian Sharia Banking","authors":"Muhammad Alfarizi","doi":"10.18196/ijief.v6i1.16824","DOIUrl":"https://doi.org/10.18196/ijief.v6i1.16824","url":null,"abstract":"The Indonesian Islamic banking sector has been transformed by integrating technology in banking services to satisfy customers for retention and market share post-COVID-19. This study investigates the impact of Islamic banking digital service quality in post-COVID-19 Indonesia on customer satisfaction and retention. This study applies the construction of an electronic service quality model (E-S-Qual) and a banking service quality model (BSQ) focusing on digital services in Islamic Commercial Banks in Indonesia after the COVID-19 Pandemic. This study uses an explanatory method by collecting survey data from customers of Islamic banks in Indonesia. PLS-SEM analysis tool with SmartPLS tool version 4 to search for hypothetical evidence. This study found the effect of ease of use, efficiency, interoperability, privacy security, responsiveness, reliability, service cost, and service portfolio on ISBC Customer Satisfaction. In addition, among the significance of ISBC Customer Satisfaction on customer retention intention, there is a mediating effect of Islamic financial literacy. Islamic banks need to maintain a digital service system to meet customers' financial needs through quality control of system infrastructure and continuous network maintenance. In addition, the demand for strategies to strengthen new digital services through adding features and promoting the advantages of digital financial services is needed to gain market share in the Indonesian financial market.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46657882","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":"The Cyclical Behavior of Capital Buffer of Indonesian Islamic and Conventional Banks","authors":"N. Atikah, A. Susamto, Samsubar Saleh, Ficrat Abdic","doi":"10.18196/ijief.v6i1.13154","DOIUrl":"https://doi.org/10.18196/ijief.v6i1.13154","url":null,"abstract":"This paper is aimed at analyzing the cyclical behavior of capital buffer of Islamic and conventional banks in Indonesia. More specifically, this paper has three objectives. First, to test whether capital buffer in Indonesian banking industry as a whole is countercyclical or procyclical. Second, to test whether there is a difference in the level of capital buffer of Islamic banks as compared to the level of capital buffer of conventional banks. Third, to test whether there is a difference in the cyclicality of capital buffer of Islamic and conventional banks. The analysis in this paper is conducted using the standard dynamic system generalized method of moments (system GMM) regressions and includes a panel of 108 banks over the period between 2004 and 2019. From the results, it can be concluded that the capital buffer of Islamic and conventional banks in Indonesia is procyclical. From the results, it can also be concluded that no difference exists in the level of capital buffer of Islamic banks as compared to conventional banks and in the cyclicality of capital buffer in Islamic and conventional banking. If the countercyclical capital buffer is achieved, a policy measure to alter the cyclical behavior of capital buffer of Islamic and conventional banks in Indonesia therefore is a must. Such policy measure needs not to be specified for Islamic or conventional banking industry.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46275592","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":"The Role of Zakat in Alleviating Multidimensional Poverty","authors":"Siectio Dicko Pratama","doi":"10.18196/ijief.v6i1.17006","DOIUrl":"https://doi.org/10.18196/ijief.v6i1.17006","url":null,"abstract":"The potential of zakat is huge to be ignored by the world. Recently, the notion to integrate zakat on the Sustainable Development Goals has grown rapidly. Nevertheless, the impact of zakat in Indonesia has not been pronounced could doubt the adoption of zakat as a global tool. This paper aims to investigate the impact of zakat on monetary and multidimensional poverty by using the National Zakat Index developed by BAZNAS. Two component of the index that cover the environmental and impact of zakat is employed to sharpen the analysis. The main method used is multiple linear regression with control variables to identify the impact of zakat on multidimensional and monetary poverty. The analysis is also conducted to evaluate the performance and development of zakat in Indonesia. The result informed that the environment for zakat to grow in Indonesia still needs to be improved, particularly in Java. Meanwhile, the micro NZI that represent the performance of institution and impact of zakat on mustahik is the only variable that are significant to multidimensional poverty. Thus, it is recommended for the government to adopt a mandatory system of Zakat in Indonesia because it can give great benefits to Indonesia in alleviating poverty and achieving SDGs in 2030.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44379432","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":"Cross-border trade and economic growth: An application to Cte dIvoire, Ghana, Morocco, and Nigeria","authors":"Zahoré Martin Gnoleba","doi":"10.5897/jeif2022.1166","DOIUrl":"https://doi.org/10.5897/jeif2022.1166","url":null,"abstract":"","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":"22 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74449430","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":"Perceptions of Indonesian Muslim Youth on Factors Influencing Their Intention to Perform Cash Waqf","authors":"A. Mujahidah, A. Rusydiana","doi":"10.18196/ijief.v6i1.13964","DOIUrl":"https://doi.org/10.18196/ijief.v6i1.13964","url":null,"abstract":"This study aims to investigate the intention to pay cash waqf among Indonesian Muslim youth. In addition, this study explains the Theory of Planned behavior and additional two variables, namely Islamic religiosity and willingness.The Partial Least Square Structural equation modeling (SEM) approach is used to test structural models and measurements. Online questionnaires were distributed to purposively selected respondents throughout Indonesia, which consists of all major islands. In total, there are 104 respondents collected. This study found that the Attitude variable and the willingness variable affect the intention to pay cash waqf among Indonesian Muslim youth. In addition, Subjective Norms, Perceived Behavioral Contol, and Islamic religiosity variables are not significantly proven as the determinant. This study focuses on the factors that influence the intention of Indonesian Muslim youth to perform cash waqf. This study examines the theory of planned behavior, Islamic religiosity, and willingness. With the latest data and variables studied, these findings can be used as guidelines for policymakers, especially waqf bodies to innovate and improve the characteristics of cash waqf contributors, especially among Muslim youth so that they can maintain sustainability and development of waqf instruments.","PeriodicalId":33058,"journal":{"name":"International Journal of Islamic Economics and Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43619069","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}