Islamic Business and Management Journal

Generation Z Loyalty to Islamic Banks: The Roles of Islamic Financial Literacy and Religiosity

Danik Choiriyah Purnomo — 2025-12-30

This study aims to analyze the influence of Islamic financial literacy and religiosity on Generation Z's loyalty to Islamic banks using the Theory of Planned Behavior (TPB) framework. The phenomenon of low Islamic financial literacy and inclusion in Indonesia, as indicated by the 2024 Financial Services Authority survey with an Islamic literacy index of 39.11% and Islamic inclusion of 12.88%, is an important background to this study. Customer loyalty, especially among Generation Z, is considered strategic because this generation is the largest demographic group born and raised in the digital era with extensive access to information. This study uses a quantitative method with a population of Generation Z users of Islamic banks. The sampling technique used is non-probability sampling with a purposive sampling approach, and the number of samples is determined to be 100 respondents using the Lemeshow formula. The research instrument is a questionnaire compiled based on indicators of Islamic financial literacy, religiosity, and customer loyalty.

Analysis of Financial Statement Preparation Based on Psak 101 in Increasing Operational Efficiency and Effectiveness at BMT Nahdliyin Gunung Lerang

Andi Shakila — 2025-12-30

This research analyzes the implementation of PSAK 101 and its impact on operational efficiency and effectiveness at Baitul Maal wat Tamwil (BMT) Nahdliyin Gunung Lerang. This type of research is field research with a descriptive qualitative approach. Data was collected through interviews, observation, and document analysis. The results show that BMT Nahdliyin has implemented a systematic financial statement preparation mechanism, but is constrained by the staff's limited technical accounting understanding. The implementation of PSAK 101 is still being carried out gradually. Despite being gradual, this standard's implementation has a positive impact on efficiency (neater recording, faster processes) and effectiveness (stronger internal control, accurate data for decision-making). Improving staff competency through training and mentoring is key to optimizing PSAK 101 implementation to support professional and accountable financial governance

Keywords: Financial Statement Preparation; PSAK 101; Efficiency; Operational Effectiveness; BMT.

The Influence of Job Insecurity and Career Development on Turnover Intention: The Mediating Role of Job Satisfaction

Nabila Divania Aisyah — 2025-12-30

This study aims to analyze the effectiveness of promotional marketing strategies in increasing student enrollment at SMK Bahari Cilegon Abadi. Using a qualitative descriptive approach, data were collected through observation, in-depth interviews, and documentation to obtain a comprehensive understanding of the school’s promotional activities. The findings reveal that the institution implements four main strategies: personal selling, through school visits (Road to School programs) to build relationships with junior high schools; mass selling, via brochures, banners, and social media advertising; sales marketing, emphasizing excellent service and a positive first impression for prospective students and parents; and public relations, by establishing partnerships with industries and community organizations. Additionally, digital platforms such as TikTok, YouTube, Instagram, Facebook, and the school’s official website play a crucial role in expanding the school’s visibility and reputation. Other supporting strategies include providing scholarships, organizing inter-school competitions, and showcasing student projects to attract new learners. The study concludes that an integrated and consistent promotional strategy combining both online and offline approaches significantly enhances public awareness, builds trust, and contributes to maintaining stable student enrollment levels at SMK Bahari Cilegon Abadi.

Wardah's Digital Marketing Strategy in Communicating Halal Product Value

Prasetyo Adinugroho Adi — 2025-12-30

This study analyzes Wardah's digital marketing strategy in communicating halal product values through TikTok (@wardahofficial) and Instagram (@wardahbeauty) platforms, employing the 7P marketing mix framework adapted for Islamic context. Using a qualitative descriptive approach, data were collected via content analysis of 2025 posts, UGC observation, and news related to Rp271 billion revenue and 40% TWC market share. Findings reveal Wardah integrates sharia values (LPPOM-MUI/JAKIM certification), ethical aspects (niacinamide/blue light serum transparency), and emotional appeals (#HalalItuCantik) through viral tutorials, Muslimah influencers, and AI personalization, driving 12 million TikTok sales units. The strategy strengthens market dominance and Gen Z Muslimah loyalty, with recommendations for global omnichannel optimization.

The Effect Of Leverage, Profitability, And Growth Opportunity On Company Value

Dea Amelisa — 2025-12-30

This study analyzes the effects of leverage, profitability, and growth opportunities on firm value among manufacturing companies listed on the Jakarta Islamic Index (JII) for the period 2020–2024. The sample comprises seven companies selected through purposive sampling, with secondary data drawn from annual financial reports. The analysis was conducted using multiple linear regression, along with classical assumption tests (t-tests and F-tests) and Adjusted R². The results show that leverage has a significant negative effect. In contrast, profitability and growth opportunity have a considerable positive impact on company value, and the independent variables of Leverage, Profitability, and Growth Opportunity simultaneously have a significant effect on company value.

Evaluating the Effectiveness of the Bandung–Kawasaki Sister City Program in Advancing Circular Economy and Empowering MSMEs in Urban Sustainability Contexts

Yuli Setiawan — 2025-12-30

Pembangunan berkelanjutan telah menjadi landasan utama dalam perumusan kebijakan global maupun nasional pasca ditetapkannya Agenda 2030 oleh Perserikatan Bangsa-Bangsa (PBB). Agenda ini merumuskan 17 Tujuan Pembangunan Berkelanjutan (Sustainable Development Goals/SDGs) yang mengintegrasikan aspek ekonomi, sosial, dan lingkungan sebagai fondasi utama pembangunan jangka panjang (United Nations, 2015). Di antara tujuan-tujuan tersebut, SDG 8 tentang pekerjaan layak dan pertumbuhan ekonomi, serta SDG 12 tentang konsumsi dan produksi yang bertanggung jawab, menjadi fokus utama dalam pengembangan pendekatan ekonomi baru yang lebih inklusif dan berkelanjutan, termasuk pendekatan ekonomi sirkular.

Ekonomi sirkular merupakan model pembangunan ekonomi yang menekankan siklus tertutup dari produksi dan konsumsi, yaitu dengan meminimalkan limbah, menggunakan kembali sumber daya, serta menciptakan nilai tambah dari limbah (Kirchherr et al., 2017). Model ini bertentangan dengan sistem ekonomi linear yang selama ini dominan, yang cenderung eksploitatif dan menghasilkan beban ekologis tinggi. Dalam konteks negara berkembang seperti Indonesia, penerapan ekonomi sirkular menjadi peluang strategis untuk mengurangi dampak lingkungan sekaligus mendorong efisiensi usaha, inovasi, dan pemberdayaan ekonomi lokal, khususnya di sektor usaha mikro, kecil, dan menengah (UMKM) (Ellen MacArthur Foundation, 2019).

Bitcoin (Via Wbtc) As Collateral In Overcollateralized Defi Lending On Aave: Risk Metrics, Liquidation Dynamics, And A Maqasid Al-Shariah Evaluation

Muhammad Dzulhilmi Yazid — 2025-12-30

This study examines the use of Bitcoin exposure, represented by Wrapped Bitcoin (WBTC), as collateral in overcollateralized borrowing on the Aave decentralized finance (DeFi) lending protocol. Using qualitative document analysis of protocol documentation, governance materials, and risk-parameter methodologies, the paper (i) maps Aave’s collateralized-debt mechanics, (ii) reconstructs the core risk metrics that govern leverage and liquidation (loan-to-value, liquidation threshold, and health factor), and (iii) evaluates the arrangement through a Maqasid al-Shariah and fiqh mu‘amalah lens. A scenario-based calculation illustrates how a borrower posting 1 WBTC faces rapid liquidation risk under plausible price declines, even when the position initially respects the maximum LTV. At the system level, explicit parameters, transparency, and overcollateralization can be interpreted as protective features for pool solvency and collective wealth. However, at the individual level the combination of interest-bearing debt, high volatility, automatic liquidation, and liquidation incentives can concentrate risk on borrowers, raising substantive concerns related to riba-like returns, severe gharar from uncertain total obligations, maysir-like behavior in leveraged speculation, and distributive justice. The paper concludes that Aave’s WBTC-collateralized borrowing achieves wealth protection only partially and tends to privilege structurally stronger parties, while proposing maqasid-oriented design directions for more risk-sharing and ethically aligned DeFi models.

Historical Analysis and Dynamics of Global Islamic Banking Development

Mohammad Ghozali — 2025-12-30

This research examines the history of banking development in the world as well as the background of the establishment of Islamic banks, focusing on the importance of understanding the history of banking from the era of the Prophet Muhammad Saw. to the modern era. This study aims to reveal the nature of banking and the urgency of establishing banking institutions in accordance with Sharia principles. The research method used is a qualitative approach based on a literature review of the works of leading economic figures as well as references to the history of banking. The results show that, first, during the time of the Prophet Muhammad, there was no formal banking institution, but banking functions were performed individually and separately. Second, in the era of the Bani Abbasiyah, the three banking functions began to be managed by one individual. Third, with the implementation of banking functions by individual jihbiz, formal banking institutions began to emerge. Fourth, the practice of usury in conventional banking institutions encouraged the need for Islamic banks. Fifth, the micro Islamic banking movement began in 1940. Sixth, the development of Islamic banks in Indonesia began in 1960 with the encouragement of the Islamic Development Bank (IDB) initiated by the Organization of Islamic Cooperation (OIC). The results of this study provide an in-depth understanding of the development of Islamic banking functions and institutions in response to the needs of the people for a Shariah-based economic system.

Product Quality and Promotion on Purchase Decisions of Local Skincare: A Case Study of The Originote Consumers in Kelapa Dua, Depok

Alexander — 2025-12-13

This study aims to examine the influence of product quality and promotion on purchase decisions for The Originote local skincare products among consumers in Kelapa Dua, Depok. The research is motivated by the growing competition in the skincare industry and the shift in consumer behavior toward more selective purchasing decisions. A quantitative approach was employed using a survey method, with questionnaires distributed to 137 respondents. Multiple linear regression analysis was applied to test both partial and simultaneous effects of the independent variables (product quality and promotion) on the dependent variable (purchase decision). The findings reveal that both product quality and promotion have a positive and significant impact on purchase decisions, individually and collectively. These results suggest that companies should prioritize improving product quality and implementing targeted promotional strategies to sustain and enhance consumer buying interest

Fraud Analysis in Village Financial Management in Sumberberas Village, Muncar District, Banyuwangi Regency

Anni Latifah — 2025-12-05

Cases of fraud in village financial management in Indonesia continue to increase in line with the growing allocation of village funds following the enactment of Law Number 6 of 2014, including in Sumberberas Village, Muncar District, Banyuwangi Regency, which once became the focus of public attention regarding alleged irregularities. This study aims to identify the forms of fraud, analyze the causal factors, and evaluate the preventive efforts. The method used is descriptive qualitative, with in-depth interviews involving the Village Head, Village Secretary, Village Treasurer, and Head of the Village Consultative Body (BPD), as well as documentation and observation. The results indicate the presence of fraud in the form of falsification of Payment Request Letters (SPP), non-transparent asset leasing, and diversion of funds to personal accounts. The causal factors, in line with the Fraud Triangle Theory, include pressure (economic needs, consumptive lifestyle), opportunity (weak internal control), and rationalization (justification of wrongdoing). Preventive efforts include transparency, internal supervision, administrative firmness, and complete documentation. The study concludes that fraud arises from a combination of internal and external factors, thereby requiring village governance that is more transparent, accountable, and participatory.

Effectiveness Analysis of the Siskeudes Application in Improving Village Financial Transparency: Evidence from Belawang Village

Theresia Indriani — 2025-12-30

This study analyzes the effectiveness of the Village Financial System Application (Siskeudes) in enhancing the transparency of village financial management in Belawang Village, Kapuas Murung District, Central Kalimantan. Using a mixed-methods approach with a descriptive design, the research combined quantitative analysis through questionnaires distributed to six respondents and qualitative analysis through in-depth interviews with village officials and community representatives. The purposive sampling technique was applied to select participants directly involved in financial management and public oversight. Quantitative results indicate that Siskeudes effectively improves financial transparency (t-value = 3.456 > t-table = 1.943; p = 0.026 < 0.05). Descriptive findings show that public access to budget information achieved the highest average score (22.17), while independent audit mechanisms scored the lowest (13.00). Qualitative evidence supports these findings, revealing that Siskeudes simplifies financial reporting processes and enhances public access to budget data displayed at the village office. However, challenges remain, including unstable internet connectivity, limited human resource competence, and occasional system errors. Overall, Siskeudes serves as a crucial digital instrument promoting transparency and accountability in village financial management, yet its effectiveness depends on infrastructure improvement and human resource capacity building.

Systematic Literature Review (SLR): Exploring Theories, Methods, Contexts, and Measurement in Brand Equity Studies

Dhika Amalia — 2025-12-30

This study is a Systematic Literature Review (SLR) that aims to explore the development of theories, methods, contexts, and measurement approaches in brand equity studies during the period 2016–2025. This study responds to the need for a more adaptive and relevant brand equity measurement model amid digital transformation, globalization, and shifts in consumer behavior. Using the PRISMA protocol and analyzing 17 selected articles from reputable journals, this study identifies dominant trends in the use of theories such as Customer-Based Brand Equity (CBBE) and its integration with new approaches such as Firm-Based Brand Equity (FBBE), personal branding, and digital metrics. Methodologically, quantitative approaches still dominate, but are increasingly being combined with mixed methods to capture the complexity of cultural and industrial contexts. The synthesis results show that traditional brand equity dimensions such as awareness, association, perceived quality, and loyalty are still relevant, but have been expanded with new elements such as sustainability, social responsibility, and digital presence. This study also reveals research gaps related to cross-context validation and limitations in the generalizability of existing scales. As a contribution, this SLR offers an updated classification map of brand equity measurement approaches and recommendations for a more integrative, multidisciplinary, and contextual future research agenda.

Social Demographic Determinants Of Sharia Investment Decisions: The Mediating Role Of Latent Behavioral Factors

Mentari Fazrinnia — 2025-12-10

The growing public interest in Sharia-based investments in Indonesia has not been fully accompanied by an improvement in the quality of individual decision-making. This study aims to analyze the influence of socio-demographic factors—gender, age, income, occupation, asset ownership, and marital status—on Sharia investment decisions, by incorporating financial literacy, religious values, and trust in the Sharia financial system as mediating variables. A quantitative approach was employed, involving 343 respondents in DKI Jakarta through an online survey, and the data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings reveal that all demographic factors significantly affect Sharia investment decisions, with income identified as the strongest determinant. All three mediating variables also demonstrate positive effects, with trust in the Sharia financial system emerging as the most dominant mediator. Overall, the combination of demographic factors and mediators explains 76.2% of the variance in investment decisions, indicating the strong role of cognitive, spiritual, and psychological dimensions in shaping Sharia investment behavior. These results highlight the importance of strengthening Sharia financial literacy, enhancing public trust, and reinforcing religious values to improve the quality of Sharia investment decision-making in Indonesia.

The Effect Of Return On Assets, Tax Planning, And Leverage On Profit Management Based On Sharia Accounting Principles

Bagas Prinanda — 2025-12-30

This study aims to examine the effects of return on assets, tax planning, and leverage on earnings management from a Sharia accounting perspective. The study employs a quantitative approach using secondary data in the form of annual reports of manufacturing companies listed on the ISSI for the 2021–2024 period. A total of 23 companies were selected as samples through purposive sampling, and the data were analyzed using EViews 12. The results show that ROA and leverage have a positive and significant effect on earnings management practices, while tax planning does not have a significant effect. Simultaneously, these three variables have a significant effect on earnings management, confirming that a company's financial condition can encourage management to manipulate reported earnings. From a Sharia accounting perspective, manipulative actions in financial statements, even if still within accounting standards, are considered unethical when conducted to benefit one party at the expense of another.

Culinary Innovation Based on Local Wisdom: Development of Lemadang Fish Skin Chips (Coryphaena hippurus) in the Context of the Creative Economy

Yuli Setiawan — 2025-12-30

This study explores the potential of Mahi-mahi (Coryphaena hippurus) fish skin as a value-added snack product in the form of vacuum-fried chips. Laboratory analyses conducted at the Department of Food Technology, Faculty of Agricultural Technology, IPB University, assessed the nutritional composition using standard proximate analysis (AOAC), revealing high protein and low-fat content. Three flavor variants—Original, Spicy, and Spicy Kaffir Lime—were developed and evaluated through sensory testing with 30 panelists using a 5-point hedonic scale. Market acceptance was further examined via a survey of 100 respondents, assessing demographic profiles, flavor preferences, purchasing channels, and promotional strategies. Qualitative data from interviews with SME practitioners, fisheries authorities, academic experts, and consumers were integrated to provide a comprehensive market and production feasibility analysis. Results indicate that Spicy flavor received the highest sensory scores and consumer preference, with offline retail channels showing the greatest purchase potential. SWOT analysis identified strengths in nutritional value and product uniqueness, opportunities in health-conscious and specialty markets, weaknesses in seasonal raw material supply, and threats from competition and supply chain instability. The study concludes that successful commercialization will require integrated strategies combining supply chain management, quality assurance, targeted promotion, and institutional collaboration.

DYNAMICS OF COUNTERPRODUCTIVE WORK BEHAVIOR AND ORGANIZATIONAL CITIZENSHIP BEHAVIOR WITH MORAL IDENTITY AND ORGANIZATIONAL JUSTICE MEDIATION

Fatmah Bagis — 2025-12-30

The complexity of work environments in the healthcare sector often triggers challenges related to employee behavior, including the rise of counterproductive work behavior that may undermine service quality. This study aims to examine the effect of counterproductive work behavior on organizational citizenship behavior, with moral identity and organizational justice serving as mediating variables among hospital employees in Purwokerto. This research adopts a quantitative design by replicating the conceptual model of Nguyen-Viet & Vo Tri Chau (2025). The population consists of 542 employees across three hospitals, with a sample of 240 respondents selected through purposive sampling. Data were collected using a five-point Likert questionnaire and analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings reveal that counterproductive work behavior has a negative and significant effect on organizational citizenship behavior, moral identity, and organizational justice. Furthermore, moral identity and organizational justice positively influence organizational citizenship behavior and significantly mediate the relationship between counterproductive work behavior and organizational citizenship behavior. These results highlight the crucial role of strengthening employees’ moral identity and perceptions of organizational justice in reducing the adverse impacts of counterproductive work behavior while enhancing organizational citizenship behavior. This study contributes to the development of Social Exchange Theory and offers strategic recommendations for hospital management to foster more ethical and equitable workplaces.

Effective Management Training Strategies To Optimize The Performance Of Administrative Staff In The Digital Era

Hayatul Maemunnah — 2025-12-30

This research investigates the efficacy of management training strategies to enhance the performance of administrative staff in the digital era, using the ADDIE model which encompasses Analysis, Design, Development, Implementation, and Evaluation. The study identifies the growing need for digital competencies among administrative personnel and proposes a systematic framework to address these requirements. By integrating tailored training modules that align with the rapid technological advances, the research aims to optimize operational efficiency and staff engagement. Results indicates that well-designed, customized training significantly improves both efficiency and employee involvement. The findings underscore the importance of adaptive training strategies in equipping staff with the necessary digital skills to thrive in advertising dynamic technological landscape. This research contributes to the ongoing discussion about the critical role of continuous learning and development in the digital transformation of administrative functions.

Analysis of Riba Potential in The Application of Mudharabah Contracts in Islamic Financial Institutions

Mohammad Ghozali — 2025-12-30

This study aims to provide a comprehensive analysis that can make a significant contribution to the practice of mudharabah in Islamic financial institutions (IFIs) in accordance with Islamic teachings. One of the issues encountered in its implementation is the potential presence of riba within it. This reflects that the potential for riba may still arise in IFIs as long as these institutions do not implement contracts that fully comply with Islamic principles. This study employs the library research method, which involves collecting data from relevant literature sources related to the subject matter, as well as other references, using a qualitative descriptive approach. The findings of this study indicate that the mudharabah contract is a partnership agreement; therefore, when its substance is compromised, injustice may arise. The potential for riba in mudharabah contracts emerges from both the contract terms and their implementation. The inclusion of certain conditions within the contract can create riba potential, while the absence of proper supervision and a sole focus on commercial objectives in contract execution can also lead to such risks. Through this analysis, it is expected to provide a foundation for the development of more effective policies to ensure compliance with sharia principles and enhance operational transparency.

The Role of Good Corporate Governance Mechanisms in Enhancing Earnings Quality of Islamic Commercial Banks in Indonesia: A Panel Data Analysis

Ahmad Suminto Suminto — 2025-11-14

This study aims to see the effect of Good Corporate Governance on earnings quality. This research is a quantitative study with a descriptive correlational approach. The population used in this study consists of Islamic Commercial Banks that are actively operating in Indonesia within the 5 years from 2019 to 2023, with a sample of 10 Islamic Commercial Banks selected using a purposive sampling technique. The data used is secondary data, namely, data obtained from annual reports published by each bank. Hypothesis testing was conducted using panel data regression analysis with EViews 12. The independent variables used in this study are the Independent Board of Commissioners, Board of Directors, Sharia Supervisory Board, and Audit Committee, which are examined in relation to Good Corporate Governance and earnings quality as the dependent variables. The results of this study indicate that, partially, the variables of the Independent Board of Commissioners and the Board of Directors have a positive and significant effect on earnings quality, while the Sharia Supervisory Board and Audit Committee do not significantly affect earnings quality. Simultaneously, the Good Corporate Governance variable has a significant positive effect on earnings quality.