经济权利与神的权利:对印度尼西亚实施伊斯兰教法经济的批评

IF 2.8 3区 经济学 Q2 BUSINESS, FINANCE
Muhammad Syauqi Bin-Armia, Muhammad Siddiq Armia, Muhammad Fazlurrahman Syarif
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引用次数: 0

摘要

目的 本研究旨在评估 2018 年第 11 号法律对印度尼西亚亚齐伊斯兰金融机构的影响。研究还旨在了解伊斯兰教法规定的个人经济权利与该法律所解释的更广泛的神权概念之间的平衡。此外,研究认为 2018 年第 11 号法律的实施不合时宜,重点考察其对伊斯兰教银行累计异常回报率(CAR)的影响及其对直接经济影响的微小贡献。设计/方法/方法本研究采用混合方法,将定性分析与定量分析相结合。定性分析采用黑字法进行立法审查,定量分析采用事件研究分析法评估经济指标和公司业绩。该研究还包括一项双尾评估,以检验与法律对机构绩效的直接影响相关的假设。研究结果该研究显示,2018 年第 11 号法律对全国规模的企业绩效影响甚微,而亚齐的贫困指数却显著上升,这表明该法律的意图与其经济后果之间可能存在错位。研究结果还表明,该法律未能有效地对伊斯兰银行的资本充足率产生重大影响,这凸显了在执行伊斯兰教法过程中存在规范冲突,且缺乏实质性的经济实质。研究主要考虑了特定机构的股价表现,以进行定量分析,并从定性角度确定了实施过程中可能出现的冲突和不和谐因素。社会影响这项研究强调了平衡宗教义务与经济权利的重要性,表明对宗教法的严格解释可能会导致不利的社会经济影响。原创性/价值这项研究的独特之处在于它对宗教法与经济权利之间的趋同性进行了全面分析,为在印度尼西亚等多元化经济体中实施基于伊斯兰教法的经济政策所面临的挑战提供了见解。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Economical rights versus God’s rights: criticising of the implementation Shariah economic in Indonesia

Purpose

This study aims to evaluate the impact of Law No. 11 of 2018 on Islamic Financial Institutions in Aceh, Indonesia. It also aims to understand the balance between the economic rights of individuals under Shariah law and the broader concept of God’s rights, as interpreted by this legislation. In addition, the research argues that the implementation of Law No. 11 of 2018 is untimely, with a focus on examining its influence on the cumulative abnormal return (CAR) of Shariah banks and its slight contribution to the direct economic impact.

Design/methodology/approach

This study adopts a mixed-methods approach that integrates qualitative and quantitative analyses. The qualitative aspect uses a black-letter law approach for legislative scrutiny, whereas the quantitative aspect assesses economic indicators and firm performance using an event study analysis. The study also includes a two-tailed assessment to test hypotheses related to the law’s direct impact on institutional performance.

Findings

The study reveals that Law No. 11 of 2018 had minimal impact on national-scale corporate performance and a notable increase in poverty indices in Aceh, indicating a potential misalignment between the law’s intention and its economic consequences. The results also show the law’s ineffectiveness in significantly influencing the CAR of Islamic banks, highlighting a clash of norms and a lack of substantial economic substance in the implementation of Shariah compliance.

Research limitations/implications

This research is geographically and legally focused on Aceh, Indonesia, with a short-term analysis that may not fully capture the long-term impacts. It primarily considers the stock price performance of specific institutions for quantitative analysis and identifies potential clashes and disharmony-in-law implementation from a qualitative perspective.

Practical implications

The findings suggest the need for legal frameworks that better comply Shariah principles with economic realities. Regional governments should consider modifying policies to balance religious values and economic objectives.

Social implications

This research highlights the importance of balancing religious obligations with economic rights, indicating that strict interpretations of religious law can lead to adverse socioeconomic effects.

Originality/value

This study is unique in its comprehensive analysis of the convergence between religious law and economic rights, offering insights into the challenges faced in implementing Shariah-based economic policies in diverse economies, such as Indonesia.

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来源期刊
CiteScore
5.40
自引率
10.00%
发文量
45
期刊介绍: The International Journal of Islamic and Middle Eastern Finance and Management (IMEFM) publishes quality and in-depth analysis on current issues within Islamic and Middle Eastern finance and management. The journal welcomes strong evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The title is also keen to consider work from emerging authors. IMEFM has just also accepted into Clarivate''s SSCI in 2018, and its IF will be available in summer 2019, with citations dating from 2016. The coverage includes but is not limited to: -Islamic finance: Fundamentals, trends and opportunities in Islamic Finance, Islamic banking and financial markets, Risk management, Corporate finance, Investment strategy, Islamic social finance, Financial planning, Housing finance, Legal and regulatory issues, -Islamic management: Corporate governance, Customer relationship management and service quality, Business ethics and corporate social responsibility, Management styles and strategies in Shariah environments, Labour and welfare economics, Political economy. The journal is the only title aiming to give an interdisciplinary and holistic view on Islamic finance and business management practices in order to inform these two intertwined communities.
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