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Article
Publication date: 7 June 2022

Masrizal, Raditya Sukmana, Budi Trianto and Annisa Masruri Zaimsyah

The potential of waqf is so great in Indonesia but has not been optimized. This paper aims to offer a model for waqf institutions to adopt financial technology for…

Abstract

Purpose

The potential of waqf is so great in Indonesia but has not been optimized. This paper aims to offer a model for waqf institutions to adopt financial technology for developing productive and social waqf. The authors cunduct an assesment of the Technology Acceptance Model (TAM3), Unified Theory of Acceptance and Use of Technology (UTAUT2) in seeing to the crowdfunders’ behavior.

Design/methodology/approach

This study adopted a structural equation using the partial least square approach to test the hypotheses. Based on purposive sampling, the spread of questionnaires through online surveys throughout Indonesia consists of all islands. A total of 297 respondents collected the questionnaires.

Findings

Based on the findings, acceptance models have a positive and significant impact on the behavioral intentions of crowdfunders, while Unified Theory of Acceptance and Use of Technology have no significant effect.

Research limitations/implications

The sample of this study involved potential crowdfunders from all over the islands in Indonesia, but these results cannot be generalized because of limitations in terms of the sampling technique used. However, the results of this study can be used as an illustration of how crowdfunders behave in donating money using financial technology.

Practical implications

The results of this study provide a comprehensive perspective for policymakers, especially the Indonesian Waqf Board as the waqf authority that regulates waqf nazir to improve quality by adopting crowdfunding financial technology in collecting waqf funds. In addition, in terms of implications for the government, this waqf crowdfunding model will reduce spending and increase economic growth.

Originality/value

To the best of the authors’ knowledge, this paper is the first in looking at the waqf crowdfunding in Indonesia by looking at two reliable technology determinant models. Studies on cash waqf in Indonesia are many, but they do not look at the issue of crowdfunding, which has gained more attention recently. This paper aims to fill this gap, and this becomes the novelty.

Details

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

Keywords

Article
Publication date: 9 April 2020

Darmansyah, Bayu Arie Fianto, Achsania Hendratmi and Primandanu Febriyan Aziz

The purpose of this paper is to investigate the influential factors on behavioral intentions toward Islamic financial technology (FinTech) use in Indonesia, for all types…

1781

Abstract

Purpose

The purpose of this paper is to investigate the influential factors on behavioral intentions toward Islamic financial technology (FinTech) use in Indonesia, for all types of FinTech services as follows: payments, peer to peer lending and crowdfunding.

Design/methodology/approach

This study adopted structural equation modeling using the partial least squares approach to test the hypotheses. Based on purposive sampling, the questionnaire was distributed through an online survey and received 1,262 responses.

Findings

The results demonstrate that the latent variables, planned behavior, acceptance model and use of technology, have a significant impact on encouraging behavioral intentions to use Islamic FinTech. The “acceptance model” latent variable is the most influential factor.

Research limitations/implications

This study was conducted only in Indonesia; therefore, the results cannot be generalized to other countries. However, the study provides important strategic guidelines for policymakers in designing a framework to enhance the development of Islamic FinTech and to achieve financial inclusion. It is suggested that future studies include samples from FinTech users in different countries.

Originality/value

This study adds to the literature especially on the factors affecting behavioral intentions to use Islamic FinTech. There are limited studies concerning this topic, especially for Indonesia. The unique feature of this study is the use of a large primary data set that covers most provinces in Indonesia. Furthermore, this study focuses on three types of Islamic FinTech, namely, payments, peer to peer lending and crowdfunding.

Details

Journal of Islamic Marketing, vol. 12 no. 4
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 14 June 2021

Muttanachai Suttipun and Thanyaorn Yordudom

This study aims to survey the extent, level and trend of environmental, social and governance (ESG) disclosures of top50 listed companies from Thailand, to test the…

Abstract

Purpose

This study aims to survey the extent, level and trend of environmental, social and governance (ESG) disclosures of top50 listed companies from Thailand, to test the different level of ESG disclosures of the companies between high profile industry and low profile industries and to examine the impact of ESG disclosures on the market reaction of top50 listed companies in Thailand.

Design/methodology/approach

Population and sample were top50 listed companies from the Stock Exchange of Thailand. Using corporate annual reports from 2015 to 2019, content analysis by word counting was used to quantify the extent, level and trend of ESG disclosures, while the market reaction was collected by the average stock price. Descriptive analysis, independent sample t-test, correlation matrix and multiple regression were used to analyze the data.

Findings

There was an increased level of ESG disclosures during the period being study. The most common ESG disclosures were social disclosure following by governance and environmental disclosures. Moreover, there were different levels of environmental disclosure of top50 listed companies between high and low profile industries, while no different levels of social and governance disclosures between high and low profile industries were found. Finally, the study found that environmental and social disclosures had a positive impact on market reaction, while there was a negative impact of governance disclosure on market reaction.

Originality/value

Thai investors can use ESG disclosures for their decision-making on investment.

Details

Journal of Financial Reporting and Accounting, vol. 20 no. 3/4
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 23 June 2022

Peerayuth Charoensukmongkol and Nichanal Lamsam

The purpose of this study is to adopt the upper echelon theory to analyze the effect of chief executive officer (CEO) transformational leadership on organizational ethical…

Abstract

Purpose

The purpose of this study is to adopt the upper echelon theory to analyze the effect of chief executive officer (CEO) transformational leadership on organizational ethical culture and its subsequent impact on firm performance. The study also integrates the knowledge from the structure–conduct–performance paradigm to test whether the high degree of competitive intensity that firms experience could weaken the effect of organizational ethical culture on firm performance.

Design/methodology/approach

Online survey data were obtained from firms in Thailand that were randomly selected from the directory provided by the Department of Business Development (n = 200). Partial least squares structural equation modeling was used to analyze the data.

Findings

Organizational ethical culture significantly meditates the effect of CEO transformational leadership on firm performance. Moreover, the moderating effect analysis illustrates that the positive effect of organizational ethical culture on firm performance tends to be lower when firms have a high level of competitive intensity in the market.

Originality/value

Overall, this study adds new knowledge to the literature by showing that, although ethical culture created by transformational leaders can lead to high firm performance, the market environment in terms of competitive intensity could mitigate this benefit.

Details

Journal of Asia Business Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1558-7894

Keywords

Article
Publication date: 22 September 2021

Izra Berakon, Muhammad Ghafur Wibowo, Achmad Nurdany and Hendy Mustiko Aji

The increasing number of tourists in the Muslim world every year has encouraged digital business developers and the Sharia banking industry to integrate halal product and…

Abstract

Purpose

The increasing number of tourists in the Muslim world every year has encouraged digital business developers and the Sharia banking industry to integrate halal product and service apps with the Sharia mobile banking system. The fourth wave of the industrial revolution has changed the consumer paradigm, creating a young generation that uses digital service transaction systems in their daily lives. This paper aims to investigate the factors that determine intention to use halal tourism apps amongst Muslim tourists to provide insights promoting the development of halal tourism in Indonesia.

Design/methodology/approach

The research was conducted using an online survey approach. The sample comprised 205 Muslim Millennial and Generation Z travellers. The data collected were analysed using partial least square structural equation modelling. There were three analysis stages: evaluation of the measurement model, assessment of the structural model and hypothesis testing.

Findings

The findings indicated that trust mediated the relationship between perceived ease of use and perceived usefulness on individual intentions and that halal knowledge positively and significantly impacted individual intentions. In contrast, religiosity was not a significant influence on individual intentions.

Originality/value

The paper expanded the technology acceptance model by incorporating the key constructs of halal knowledge, religiosity and trust into an integrated research framework; this represented a novel step, especially in the context of halal tourism. The finding that trust mediated the relationship between perceived ease of use and perceived usefulness fills a gap in previous research, which has rarely included the trust construct in technology acceptance models.

Details

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

Keywords

Article
Publication date: 10 May 2021

Izra Berakon, Hendy Mustiko Aji and Muhammad Riza Hafizi

Cash-waqf is one of the transformative models of waqf assets submission to optimize the receipt of waqf of money in Indonesia. Currently, cash-waqf can be paid through the…

Abstract

Purpose

Cash-waqf is one of the transformative models of waqf assets submission to optimize the receipt of waqf of money in Indonesia. Currently, cash-waqf can be paid through the platforms that are integrated with digital sharia banking systems (DSBS) such as Jadiberkah.Id (Bank Syariah Mandiri), Digital Wakaf Hasanah (Bank Negara Indonesia Syariah) and other waqf online services provided by Bank Syariah Bukopin, Bank Commerce International Merchant Bankers Niaga and Bank Rakyat Indonesia Syariah. This study aims to investigate the role of DSBS in stimulating Muslim youth’s decision to endow cash-waqf in Indonesia.

Design/methodology/approach

This research involved 225 Muslim youth from several universities across the Special Province of Yogyakarta and Central Java as the research respondents. The analysis was conducted using partial least square structural equation modeling with WarpPLS 7.0.

Findings

The result of the structural model indicates that the research model is structurally good since it meets all model criteria. Perceived ease of use (PEU) is found as the most significant predictor of perceived usefulness (PU). Both generate a significant effect on Muslim youths’ attitudes toward DSBS. Overall, subjective norm (SN), perceived behavioral control (PBC), PU and attitudes are important determinants that lead individual decisions to use the online cash-waqf payment through DSBS. Finally, the research findings conclude that DSBS plays a significant role in encouraging the interest of young Muslim generations to participate in cash-waqf transactions.

Originality/value

This study seeks to contribute to the existing literature by enriching the discussion on DSBS’s service, especially in the context of optimizing the collection of Islamic Philanthropy through cash-waqf transaction. Also, this study integrates theory of planned behavior (TPB) and the technology acceptance model (TAM) into a single research model to explore the determinants of cash-waqf participation in digital era.

Details

Journal of Islamic Marketing, vol. 13 no. 7
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 20 September 2021

Rizaldi Yusfiarto, Sunarsih Sunarsih and Darmawan Darmawan

The purpose of this study is to explore a theoretical model using the push-pull-mooring framework which adopts both direct and moderating effects, in relation to building…

Abstract

Purpose

The purpose of this study is to explore a theoretical model using the push-pull-mooring framework which adopts both direct and moderating effects, in relation to building antecedents of Muslim switching intention (SI) from using cash to mobile payment (m-payment).

Design/methodology/approach

The data collected were 317 respondents, then processed using the partial least squares structural equation modeling approach (SEM-PLS). Furthermore, advanced PLS techniques such as PLS predict, blindfolding and importance-performance map analysis are used to verify the statistical analysis of findings.

Findings

This research underlines the importance of religious commitment factor when talking about Muslims SI to use m-payment. Moreover, the features of m-payment, such as enjoyment, efficiency, security and convenience, have contributed to the driving and attracting factors for Muslim individuals to switch from cash to m-payment.

Practical implications

Fundamentally it is highly recommended that the highest concentration of service provider strategies is always obeying the principles of Islamic finance, with regard to the Muslim community as their target market. Specific to the government, the distribution of supporting infrastructure and literacy of new technologies such as m-payment are still important points in an effort to create a cashless society.

Originality/value

The model in this study emphasizes the internal and external construction of a Muslim in relation to the behavior of SI from using cash to m-payment. Thus, the construction of the model that has been built is considered to bring more relevant factors to explain the m-payment adoption behavior of a Muslim from various perspectives.

Details

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

Keywords

Article
Publication date: 5 July 2022

Soumaya Ben Khelifa and Sonia Arsi

This paper aims to explore the impact of the COVID-19 pandemic on the market timing skills of Islamic equity funds in Asia, Europe and North America.

Abstract

Purpose

This paper aims to explore the impact of the COVID-19 pandemic on the market timing skills of Islamic equity funds in Asia, Europe and North America.

Design/methodology/approach

The authors employed a two-step process. First, a Granger causality test is applied to test the bivariate relationship between Islamic fund indices and stock market ones by highlighting the impact of the COVID-19 pandemic. Second, the methodology of Treynor and Mazuy (1966) is deployed to account for the market timing abilities skills of Islamic fund managers during the pandemic period.

Findings

The investigation revealed mixed results. The European Islamic funds were positively impacted by the stock market as well as by the COVID-19 pandemic context. Additionally, compared to their Asian and North American peers, only European Islamic fund managers have the ability to time the market during the health crisis period.

Research limitations/implications

Despite its contribution to the Islamic finance literature, this study has some flaws. Indeed, the selected sample of three regions, namely Asia, Europe and North America, precludes extrapolating these conclusions. Other regions should be investigated to further our understanding of Islamic equity funds. Furthermore, due to data availability and accessibility, the study period was limited to a specific time of the COVID-19 pandemic. This shortcoming can be addressed through a multiwave investigation, especially since each region was exposed differently to the pandemic.

Practical implications

The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic fund managers across the three regions would serve as a guide to identifying the most suitable internationally focused investment strategy.

Social implications

The paper provides scholars, portfolio managers and investors with insights regarding the investment dilemma during the COVID-19 pandemic period, especially for those wishing to hedge their pandemic risk exposure and/or diversify their portfolios. Equally, the depiction of potential market timing abilities of Islamic funds managers across the three regions would serve as a guide to identify the most suitable internationally focused investment strategy.

Originality/value

The originality of this investigation is that it is the first to examine Islamic equity fund managers and their skills to time the stock markets during the COVID-19 pandemic period in Asia, Europe and North America. The current paper extends the Islamic finance literature.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 4 April 2019

Sanusi Bintang, Mujibussalim Mujibussalim and Fikri Fikri

The purpose of this study is to explain the need for the implementation of decentralization of Indonesia social health insurance (INA-Medicare), with particular emphasis…

Abstract

Purpose

The purpose of this study is to explain the need for the implementation of decentralization of Indonesia social health insurance (INA-Medicare), with particular emphasis for Aceh Province. First, it discusses the inconsistency of Act on National Social Security System (ANSSS) to the 1945 Constitution, because certain rules in ANSSS are contrary to the 1945 Constitution. This weakens the practice of broader regional autonomy, lessens the importance of public service quality in health care and ignores specific cultural and religious values of the regional people. Then, it explains provisions on central and regional government authority in the 1945 Constitution, Act on Regional Autonomy and Act on Governing of Aceh. Later, it explores current law and practice of INA-Medicare under the national social security system and the centralized administering body. Finally, it provides reasons for decentralization of INA-Medicare, as the solution.

Design/methodology/approach

This study uses doctrinal legal research. It relies on both primary and secondary legal authorities. In additions, it also uses sociolegal research by relying on non-legal materials, including empirical data from books, journals and newspapers. Analysis of legal authorities is by legal reasoning process, whereas analysis of non-legal materials is by qualitative approach.

Findings

This study argues that the decentralization of INA-Medicare is more suitable for Aceh Province because of several reasons, including implementing broader regional autonomy, improving public service quality in health care and implementing the principle of sharia social health insurance.

Originality/value

The study is original because it focuses on a specific regional area of Aceh Province, Indonesia. It concentrates on specific legal issues and provides unique reasons for argumentation. Therefore, it provides important specific information for journal readers.

Details

International Journal of Law and Management, vol. 61 no. 2
Type: Research Article
ISSN: 1754-243X

Keywords

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