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Article
Publication date: 26 April 2023

Wahyu Jatmiko, Banu Muhammad Haidlir, A. Azizon, Bambang Shergi Laksmono and Rahmatina Kasri

The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the…

Abstract

Purpose

The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem.

Design/methodology/approach

This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z).

Findings

Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations.

Research limitations/implications

This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged.

Practical implications

Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation.

Originality/value

To the best of the authors’ knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 2 July 2024

A. Azizon, Rahmatina Awaliah Kasri, Kenny Devita Indraswari and Wahyu Jatmiko

The recent growth of Islamic bank (IB) assets in Indonesia has been mainly driven by government interventions rather than the organic development on the demand side. A novel…

Abstract

Purpose

The recent growth of Islamic bank (IB) assets in Indonesia has been mainly driven by government interventions rather than the organic development on the demand side. A novel approach to attract new consumers, increase market share and accelerate its development is the need of the hour. This study aims to propose beyond-money framing that promotes the Shari’ah and social dimensions of IB’s products on top of its contemporary marketing strategy. This paper examines whether this technique can advance IBs selection.

Design/methodology/approach

This paper uses the (online) laboratory experiment involving 192 high- and low-literate participants from Generation Z (Gen Z). Using difference tests and Logit regression, this paper examines the impact of beyond-money framing on customers decision-making.

Findings

Beyond-money framing has a significant impact in influencing customers decisions to select profit-and-loss sharing (PLS) products offered by IBs. The effect of the framing accelerates in the high-literate customers.

Research limitations/implications

The contract examined is only the PLS one (mudharabah). Respondents are also restricted to Gen Z. This study does not separate the effect of Shari’ah and social aspects from beyond money framing.

Practical implications

To attract new customers, IBs should emphasise their products’ social and Shari’ah features rather than relying solely on a low-price strategy.

Originality/value

To the best of the authors’ knowledge, this paper is the first study proposing the framing strategy for IBs and examining its impact on IB’s product acceptance in Indonesia.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 1 July 2024

Harris Rizki Ananda, Kenny Devita Indraswari, A. Azizon, Irfani Fithria Ummul Muzayanah, Tika Arundina and Ashintya Damayati

The market value of luxury goods at the global and national levels continues to increase from year to year. The sales growth of the Indonesian luxury goods market is currently at…

Abstract

Purpose

The market value of luxury goods at the global and national levels continues to increase from year to year. The sales growth of the Indonesian luxury goods market is currently at 6.6% per year. The largest sales sector in the market is the fashion sector, with more than US$700m per year. Several big cities in Asia, including Jakarta, experienced a shift in the age group of luxury goods buyers to a younger group with limited income resources. The behavior of purchasing luxury goods in the low-income group is contrary to Islamic values, which prioritize the fulfillment of needs rather than the fulfillment of desires. This study aims to analyze the factors that influence the intention of Muslim Generation Z consumers to buy luxury fashion products.

Design/methodology/approach

The purposive sampling method in this study involved 240 respondents who had bought luxury fashion products in the masstige category in the past two years. This study adopts the Theory of Reasoned Action (TRA) model and a quantitative approach through the structural equation modeling method.

Findings

The results of this study indicate that attitude towards behavior, subjective norms, self-esteem and materialism have a significant positive effect on the intention to consume luxury fashion, while the influence of religiosity was found to be insignificant. At the same time, religiosity has a significant negative effect on attitude towards behavior and subjective norms.

Research limitations/implications

These findings indicate that if consumers who have a positive attitude toward luxury fashion purchases, can be influenced by their significant others, self-esteem and materialistic nature, then they tend to buy luxury fashion items.

Originality/value

This study extends the theory of TRA by adding religiosity, self-esteem and materialism and it uses Muslim Generation Z as the respondent. Masstige category of luxury brands is also used to take into account the affordability of its generation toward luxury fashion products.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 13 September 2021

Wahyu Jatmiko and A. Azizon

Previous studies have challenged the Human Development Index’s (HDI) ability to emulate the achievement of falāh (happiness). This paper aims to evaluate the role of religious…

Abstract

Purpose

Previous studies have challenged the Human Development Index’s (HDI) ability to emulate the achievement of falāh (happiness). This paper aims to evaluate the role of religious values in establishing a positive link between the current measurement of development and falāh.

Design/methodology/approach

First, this study derives an improved value-loaded development measure from the concept of Maqasid al-Shari’ah (the higher objectives of Islamic law). Second, this paper compares the calculated Maqasid al-Shari’ah Index (MSI) with the HDI of some Organisation of Islamic Cooperation (OIC) countries by using the parametric pair difference z-test and t-test along with the non-parametric Wilcoxon signed-rank test. Finally, the relationship of both indices and the proxy of falāh are examined by using the ordinary least square and the generalised method of moments estimations.

Findings

As far as the religious-led development is concerned, the HDI underestimates OIC countries’ development progress. Here, the MSI can better embody the attainment of falāh than the HDI.

Research limitations/implications

This study only covers limited OIC countries due to the data availability issue.

Practical implications

The cultural-based development stemming from the religious values proves useful for putting the government effort towards the attainment of the objective of human well-being in the right direction.

Originality/value

To the best of the authors’ knowledge, this is the first study examining the empirical relationship between the MSI and falāh.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 20 July 2023

Yunice Karina Tumewang, Herlina Rahmawati Dewi and Hanudin Amin

The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the…

Abstract

Purpose

The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the conceptual discussion developed through a thorough review of selected key literature.

Design/methodology/approach

The study uses bibliometric analysis, collecting information drawn from 219 articles published in 68 journals during the period of 2006–2022. This study uses VOSviewer, RStudio, Microsoft Excel, and an examination of research time periods using the Scopus database to illustrate the citation analysis and keyword map. It is also strengthened by content analysis of selected studies.

Findings

The main research theme found in this study is the application of maqashid sharia in Islamic banks, with Islamic banks and Islamic finance among the most frequently used keywords. Meanwhile, the geographical spread of maqashid sharia research has reflected its universal acceptance, as it has spread across both Muslim-dominant and non-Muslim-dominant countries. Besides, maqashid sharia is found to be an extremely important subject for ensuring the ethical dimension of Islamic finance products and services, a more inclusive human development index, and contributing to the international agenda of Sustainable Development Goals. Lastly, future research is expected to broaden it into a multi-dimensional horizon, with several recommendations offered to enrich the understanding of maqashid sharia.

Practical implications

The findings of this study can be beneficial to multiple stakeholders in Islamic finance industry, including the management of Islamic banks, who can enhance the values of maqashid sharia in designing their products/services, and the regulators, who can formulate regulatory frameworks which are reflective of maqashid sharia principles.

Social implications

This study will assist future scholars in this field to formulate and design exciting research ideas and models to address the deficiencies found in the current implementation of maqashid sharia within Islamic finance industry.

Originality/value

The primary contribution of this study is to provide comprehensive review and discussion of selected significant literature on maqashid sharia and give direction for future research. In addition, this study also extends and incorporates the results of bibliometrics using the recent maqashid sharia studies published at the end of 2022.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 10 May 2023

Siswanto

This study aims to investigate religiosity and entrepreneurial motivation roles in the goal-specific, involving Muslim students’ entrepreneurial intention and self-efficacy…

Abstract

Purpose

This study aims to investigate religiosity and entrepreneurial motivation roles in the goal-specific, involving Muslim students’ entrepreneurial intention and self-efficacy. Besides, it examines the robustness model based on group context.

Design/methodology/approach

Partial least square structural equation modelling is employed to examine 502 data collected from Muslim students in Indonesia through an online survey. Meanwhile, partial least square multigroup analysis tests the robustness model.

Findings

Religiosity plays a powerful role in increasing goal-specificity. Meanwhile, entrepreneurial motivation and self-efficacy perform as full mediations in the pathway mechanism of religiosity's effect on entrepreneurial intention.

Research limitations/implications

The current study is conducted based on the previous recommendations and contradictions. Therefore, it clarifies and develops a study on the role of religiosity and entrepreneurial motivation in the goal-specific motivation of Muslim students.

Practical implications

To increase the goal-specificity of entrepreneurship activities, policymakers in the ministry of education and universities must implement and revitalize Muslim students' understanding of the relationship between religiosity and entrepreneurship.

Originality/value

This study defines the role of religiosity in goal-specific, especially Muslim students’ entrepreneurial intentions, by gender, faculty/department and age. Furthermore, it completes the opportunity for research agendas on the relationship between religiosity, entrepreneurial motivation, self-efficacy and entrepreneurial intention.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 13 November 2020

Pundalik Pandharinath Mali, Nilesh S. Pawar, Narendra S. Sonawane, Vikas Patil and Rahul Patil

The purpose of this work was to develop a new trispiperazido phosphate-based reactive diluent (diphosphate-piperazine hydroxyl acrylate [DPHA]) and used as a flame retardant with…

Abstract

Purpose

The purpose of this work was to develop a new trispiperazido phosphate-based reactive diluent (diphosphate-piperazine hydroxyl acrylate [DPHA]) and used as a flame retardant with an epoxy acrylate (EA) in ultraviolet (UV)-curable wood coating.

Design/methodology/approach

The concentration of reactive diluent was varied from 0% to 20% in the UV-curable formulation with constant photoinitiator concentration. The effect of DPHA concentration on film properties was studied by differential scanning calorimetry and thermogravimetric analysis, gel content, water absorption and limiting oxygen index.

Findings

The results showed that the viscosity of the prepared formulation decreased by increasing reactive diluent (DPHA) concentration which leads to improving the coating efficiency. A high concentration of reactive diluent (DPHA) of the cured films shows good resistance against stain, mechanical and thermal properties, which results in an increased glass transition temperature (Tg) and cross-linking density of the films.

Originality/value

The new trispiperazido phosphate-based reactive diluent was used in wood coating formulation, which resulted in excellent flame-retardant properties with higher cross-linked density with good stain resistance. This material can provide a wide range of application for coating industries to produce a glossy finish.

Details

Pigment & Resin Technology, vol. 50 no. 3
Type: Research Article
ISSN: 0369-9420

Keywords

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