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Article
Publication date: 8 August 2016

Permata Wulandari, Salina Kassim, Liyu Adhi Kasari Sulung and Niken Iwani Surya Putri

This paper aims to highlight on the unique aspects of Islamic microfinance based on the experience of Baitul Maal Wa Tamwil (BMT) in Indonesia.

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Abstract

Purpose

This paper aims to highlight on the unique aspects of Islamic microfinance based on the experience of Baitul Maal Wa Tamwil (BMT) in Indonesia.

Design/methodology/approach

It adopts the content analysis approach and focuses on three phases of financing, namely, pre-financing, financing and post-financing using coding and model buildings. Data are collected through in-depth interview with a sample of representatives of BMTs that offer product based on Islamic principle for the poor located in Jakarta, Bogor, Depok, Tanggerang and Bekasi (JABODETABEK), Sulawesi Selatan, Yogyakarta and Nusa Tenggara Barat (sample chosen based on the most concentrated areas of Islamic microfinance that offered product based on Islamic principles). Ultimately, a model based on the unique features of Islamic microfinance will be developed based on the findings of the content analysis.

Findings

The proposed model incorporates the peculiarities of the poor people in pre-financing, financing and post-financing activities of micro-financing products to serve as a reference for policy makers. The paper also found that each region has unique product preferences depending on the poor’s characteristics.

Research limitations/implications

This study is only conducted in four areas with BMT representation, namely, Jakarta, Bogor, Depok, Tangerang, Bekasi (often abbreviated as JABODETABEK), Sulawesi Selatan, Yogyakarta and Nusa Tenggara Barat) in Indonesia. Despite the limited scope, the findings have wide applications to the Islamic microfinancing in general.

Originality/value

The paper adds value to the literature on Islamic microfinance by enabling researchers and practitioners to understand the model of three step financing (pre-financing, financing and post-financing) in Islamic microfinance in Indonesia. Although not a new issue, the paper provides the practice of pre-financing, financing and post-financing processes which may differ from the practices of Islamic microfinance in other settings because of different cultural influences unique to every region.

Details

Humanomics, vol. 32 no. 3
Type: Research Article
ISSN: 0828-8666

Keywords

Article
Publication date: 14 August 2017

Rofikoh Rokhim, Sari Wahyuni, Permata Wulandari and Fajar Ayu Pinagara

The purpose of this paper is to analyze the potential of remote areas in Indonesia and find out the important variables that influence key success factors of Local Economic…

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Abstract

Purpose

The purpose of this paper is to analyze the potential of remote areas in Indonesia and find out the important variables that influence key success factors of Local Economic Regional Development (LERD) program in several areas.

Design/methodology/approach

A series of structured interviews were conducted with the chairman and staff of local government, academician, private sectors and locals who are induced to work together to improve quality of life, create new opportunities and fight poverty in Bau-Bau, Singkawang and Kupang. Subsequently, the results from the structured interviews were analyzed using qualitative analysis to arrive at the model of LERD in Indonesia.

Findings

The findings show that variables that influence the key success factors of LERD in this research are resources endowment, social capital and local support as independent variables; entrepreneurial strategy as moderating variable; and perceived performance as dependent variable.

Research limitations/implications

This study was conducted only in Indonesia which focused on local economic regional development in Indonesia. Despite this limitation, the findings of this study enable the construction of a general model that highlights LERD in chosen areas. The model is also expected to give an idea of how to develop economic region.

Originality/value

The paper adds to the literature on LERD by enabling researchers and practitioners to understand the model of LERD in Indonesia.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 11 no. 4
Type: Research Article
ISSN: 1750-6204

Keywords

Article
Publication date: 7 May 2019

Permata Wulandari

Baitul Maal wa Tamwil (BMT) is an Islamic microfinance institution created by combining the functionality of Baitul Maal and Baitul Tamwil in Indonesia. While Baitul Maal plays…

Abstract

Purpose

Baitul Maal wa Tamwil (BMT) is an Islamic microfinance institution created by combining the functionality of Baitul Maal and Baitul Tamwil in Indonesia. While Baitul Maal plays the role of an institution that collects funds from zakah, cash waqf, infaq and sadakah, Baitul Tamwil then distributes these funds in the form of Qardhul Hassan financing to the poor at the bottom of the economic pyramid (BOP). This study aims to explain the poverty alleviation effort by BMT regarding its role in providing Qardhul Hassan financing to the people at the BOP and provide practical suggestions to maximize the outreach performance of the BMT.

Design/methodology/approach

In this methodology, the study adopts the qualitative analysis of reviewing the literature and interviewing the BMT staff in Jakarta, Makassar and Nusa Tenggara Barat areas to present the views of the practitioners related to the role of Baitul Maal in giving Qardhul Hassan financing to the people at the BOP using appreciative intelligence framework.

Findings

The study finds that BMT in Indonesia needs several stage-specific structures and roles to be effective. In particular, there is a need to separate the function of Baitul Maal from Baitul Tamwil to enhance its role when giving Qardhul Hassan financing to the people at the BOP. The role of Baitul Maal in alleviating the poverty figure is also drawn in this study.

Originality/value

The findings of this study add to the literature on Baitul Maal by enabling researchers and practitioners to appreciate the role of Baitul Maal, and these findings also contribute towards enriching the knowledge in Baitul Maal and financing requirements of the poor at the BOP. This paper also contributes to the field of Islamic accounting which is currently getting prominent.

Details

Journal of Islamic Accounting and Business Research, vol. 10 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 February 2024

Permata Wulandari and Muhammad Nadhif Ubaidillah

Islamic home financing products with Murabaha contracts are widely favored among the Muslim community in Indonesia, given that the country has a population of over 230 million…

Abstract

Purpose

Islamic home financing products with Murabaha contracts are widely favored among the Muslim community in Indonesia, given that the country has a population of over 230 million Muslims. To facilitate the development of products and enhance public interest, it is important for Islamic banking institutions to comprehend the elements that may impact the intents of Muslim communities in Indonesia when selecting Islamic home financing products with Murabaha contracts. The purpose of this study is to ascertain the many aspects that may have an impact on the decision-making process of Muslim communities in Indonesia when selecting Islamic home financing product that use Murabaha contracts.

Design/methodology/approach

The partial least square-structural equation modeling data processing techniques will be used to process and evaluate these components. The data used in this study was acquired by administering questionnaires to a sample of 298 Muslim communities, which were randomly selected from a pool of 301 possible customers of Islamic house finance in Indonesia.

Findings

The results of this research show that attitude, subjective norms and perceived behavioral control have positive influence on intention to choose an Islamic home financing scheme with Murabaha agreement, while price fairness of Islamic home financing and Islamic altruism have direct and indirect influence on intention to choose Islamic home financing.

Research limitations/implications

Analyzing factors that affect intention to choose Islamic home financing product under Murabaha contract is essential. Future study is required to analyze other Islamic home financing products, such as istisna, ijarah muntahia bi tamlik and diminishing musharakah. This study only serves as a foundation for further investigations into conventional approaches to home financing in emerging nations. The areas can be expanded to be implemented in other countries.

Practical implications

It is anticipated that Islamic banks have the capacity to cultivate a favorable and constructive perception, hence fostering a positive disposition among the Muslim populace in Indonesia. Furthermore, it is essential for Islamic banks to guarantee that all stakeholders within the sharia-compliant institution, particularly the frontline staff, have enough expertise and understanding of the intricacies of Islamic home financing products including Murabaha contracts, which are intended for prospective customers. In the foreseeable future, it is anticipated that the Muslim population in Indonesia would exhibit a greater intention toward the use of Islamic home financing solutions that use Murabaha contracts, facilitated by the establishment of a conducive environment.

Originality/value

This research integrates the impacts of pricing fairness and Islamic charity as a modified model, alongside the theory of planned behavior model, to examine the influence of these factors on individuals’ intentions to use Islamic home financing in Indonesia.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 November 2022

Ruslan Prijadi, Adhi Setyo Santoso, Tengku Ezni Balqiah, Hongjoo Jung, Putri Mega Desiana and Permata Wulandari

This research investigates the nature of regulatory-focused effectuation (as the basis of entrepreneurial behavior) in absorptive capacity development for open innovation…

Abstract

Purpose

This research investigates the nature of regulatory-focused effectuation (as the basis of entrepreneurial behavior) in absorptive capacity development for open innovation implementation, the role of crowds or communities management practices in the effectuation-based open innovation process, and open innovation performance as the output of the open innovation process in digital multi-sided platform (MSP) startups context.

Design/methodology/approach

In order to verify the hypothesis, the researcher conducts a quantitative study that is based on a self-administered questionnaire and employs the PLS-SEM approach. The sample comprises of 70 Indonesian digital MSP businesses that have been operational for at least three years and have used open innovation approaches with their audiences, communities or complementors.

Findings

The research findings imply that there is a connection between promotion-focused effectuation and the open innovation process. This connection is particularly strong when it comes to the incorporation of absorptive capacity and crowds or communities management practices. On the other hand, prevention-focused effectuation shows insignificant effect toward open innovation process in digital MSP startups context.

Research limitations/implications

The research findings imply that with limited resources and experiences, young entrepreneurs can still implement open innovation strategy for their digital MSP platform through effectuation principles that leverage the external resources from digital platform ecosystem members.

Practical implications

In digital MSP startups context that perform promotion-based effectuation principles, innovation performance can be achieved by analyzing new insight, transforming the existing activities with the new insight, creating new offering afterward, as well as strengthening crowds or communities management practices through co-creation activities with platform ecosystem members that may lead into new business model.

Originality/value

The originality of this work is to make a contribution to the literature on strategic entrepreneurship by describing the phenomena of the paradox of resource-based theory; adopting open innovation strategy under constrained initial resources and capabilities scenario.

Article
Publication date: 2 June 2021

Rofikoh Rokhim, Iin Mayasari and Permata Wulandari

This study aims to analyze the adoption of the people entrepreneurship credit with online platform – a government-sponsored subsidy of small and medium enterprises to reduce…

Abstract

Purpose

This study aims to analyze the adoption of the people entrepreneurship credit with online platform – a government-sponsored subsidy of small and medium enterprises to reduce poverty and to improve welfare – in the Central Java, Indonesia. The objective of the research is also to analyze the motivation of small and medium enterprises to adopt the credit with online platform in supporting business activities. The research framework used the technology acceptance model – the effect of perception of usefulness, perception of ease of use, subjective norm and four As – availability, affordability, awareness, acceptability and trust – to analyze them as the determinants on the intention to adopt the People Entrepreneurship Credit.

Design/methodology/approach

The quantitative method with survey was deployed in the study by distributing questionnaires. The number of collected data was 380 credit users, and the criteria used for the respondents were the small entrepreneurs with the use of the people entrepreneurship credit as the micro credit program.

Findings

Results indicated that perception of usefulness, perception of ease of use, subjective norm, availability, trust and affordability have direct effect on the intention to adopt the credit. Interestingly, the strongest direct effect on the adoption intention was more likely to come from the perception of ease of use. Meanwhile, awareness and acceptability have no direct effect on the intention to adopt.

Originality/value

This study provides new theoretical insights regarding the implementation of technology acceptance model to analyze the intention to adopt and the analysis of four As concept. The findings of the study will provide a better strategy for banking as service industries in formulating the program of credit access for the entrepreneurs to run the business properly.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 23 no. 1
Type: Research Article
ISSN: 1471-5201

Keywords

Article
Publication date: 16 August 2022

Rofikoh Rokhim, Iin Mayasari, Permata Wulandari and Handrix Chris Haryanto

The purpose of this study is to examine the effect of extrinsic aspects of the technology acceptance model, namely, information quality, functionality, accessibility, user…

Abstract

Purpose

The purpose of this study is to examine the effect of extrinsic aspects of the technology acceptance model, namely, information quality, functionality, accessibility, user interface design, system quality, functionality, facilitating conditions and computer playfulness as well as intrinsic aspects, namely, perceived self-efficacy, enjoyment and learning goals. orientation on perceived usefulness and perceived ease of use in the context of the learning management system (LMS) as a system to support employee learning and development. This study also analyzes the effect of perceived ease of use on perceived usefulness and analyzes the effect of these two variables on the intention to adopt a LMS. This study included 3,205 respondents who are employees of banking companies in Indonesia and who used the LMS for their learning and self-development needs during the COVID-19 pandemic.

Design/methodology/approach

This research is a quantitative study that uses online surveys to collect data and partial least squares statistical tools to analyze survey data.

Findings

The results showed that accessibility alone had no effect on perceived usefulness and perceived ease of use, while enjoyment had no effect on the intention to use LMS and perceived ease of use and functionality had no effect on the intention to use LMS.

Research limitations/implications

This research focuses on the concept of technology acceptance with extrinsic and intrinsic aspects. This research context involves employees working in the banking sector with the adoption of the LMS.

Practical implications

LMS in banking companies can be optimized by providing online training and reducing the operational costs of employee training. By using LMS, companies can offer online courses to employees and track progress in distance learning, become a learning choice and information dissemination during the pandemic and also support future business continuity.

Originality/value

This study focuses on testing the technology adoption model on LMSs in the banking sector by adding extrinsic aspects, namely, system quality, facilitating conditioning, computer playfulness and user interface design, and combining intrinsic aspects, namely, perceived self-efficacy, enjoyment and learning goal orientation.

Details

VINE Journal of Information and Knowledge Management Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 8 April 2020

Ruslan Prijadi, Permata Wulandari, Putri Mega Desiana, Fajar Ayu Pinagara and Maya Novita

The purpose of this paper aims to investigate micro enterprises financing in Indonesia and examines how this financing differs, depending on the enterprise’s development stage…

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Abstract

Purpose

The purpose of this paper aims to investigate micro enterprises financing in Indonesia and examines how this financing differs, depending on the enterprise’s development stage. This research also identifies some structural problems related to micro-financing and provides workable solutions.

Design/methodology/approach

This research uses the entrepreneurial network model of Schutjens and Stam (2003) to examine how Indonesian micro and small enterprises (MSEs) evolve even before they become regular small businesses. Content analysis is used on 10 micro-enterprises from Jakarta, the capital city of Indonesia and its surroundings. Financing issues at each stage of enterprise development are identified and deeply examined.

Findings

This research not only confirms the significant financing problems micro-enterprises face but also clarifies that these problems are unique to each stage of the MSEs’ development. One insight is that most micro-enterprises do not use funding from formal institutions. That is, business owners rely more on funding from non-formal institutions. This is because these enterprises’ managers generally cannot prepare loans application and/or they are lack of knowledge/training on financing matters. They hesitate to borrow from formal financial institutions, as the rates are high but the processing time is longer than those of the loan sharks.

Originality/value

This research contributes to the field of entrepreneurial finance by identifying the structural problems inherent in micro-finance and providing workable solutions for overcoming these problems.

Details

International Journal of Ethics and Systems, vol. 36 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 20 June 2016

Dimas Satria Hardianto and Permata Wulandari

The aim of this research is to compare the differences of intermediation, fee-based service activity and efficiency of conventional banks vs Islamic banks in Indonesia for the…

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Abstract

Purpose

The aim of this research is to compare the differences of intermediation, fee-based service activity and efficiency of conventional banks vs Islamic banks in Indonesia for the 2011-2013 period. Moreover, this study also includes some control variables to find their effect on the dependent variables.

Design/methodology/approach

This research uses two methods, namely, stochastic frontier approach and panel data regression.

Findings

The result indicates that Islamic banks have a higher intermediation ratio, have higher proportion on fee income-to-total operating income and are less efficient. The control variable that has a positively significant effect on intermediation ratio is size; meanwhile, inefficiency and non–loan-earning asset are negatively affecting the intermediation ratio. The control variable that show a positively significant effect on the proportion of fee income-to-total operating income is size; meanwhile, the credit risk variable has no significant effect on the proportion of fee income-to-total operating income. Size and credit risk are the control variables that have a negative relation to efficiency.

Originality/value

This study has significantly contributed to Indonesian Islamic banking based on which the Islamic banking manager should recognize that the intermediation level, fee-based service activity and efficiency are crucially important in establishing competition and maintaining sustainable Islamic banking.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 20 June 2016

Permata Wulandari, Niken Iwani Surya Putri, Salina Kassim and Liyu Adikasari Sulung

The purpose of this paper is to measure the pattern of contract agreement process to map various banks’ position in perceiving Sharia conduct. This is done by incorporating the…

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Abstract

Purpose

The purpose of this paper is to measure the pattern of contract agreement process to map various banks’ position in perceiving Sharia conduct. This is done by incorporating the dynamics of culture, market demand and Sharia literacy in different banks. Finding of this research will serve as the formula to map the latent degree of Islamic bank’s commitment to their strategic vision and identity as an Islamic-based financial institution.

Design/methodology/approach

This research develops its theoretical background in classical and contemporary literature review on murabahah contract in Islamic perspective. Focus group discussion (FGD) and in-depth interview are conducted on 32 bankers (in 14 Islamic banks), two National Sharia Council, five academicians and three central bank representatives as an input for qualitative analysis. Content analysis is utilized in this paper to emphasize the process of discovering the relationship between dynamic factors affecting contract agreement process in murabahah scheme in Indonesian banking.

Findings

There are four dimensions affecting the contract agreement: fairness to customer, country regulation, perceived business practicality and product characteristic. The four dimensions are assumed to be influenced with categories proposed, as the category item is mostly repeated and is perceived to be significant in the participant’s perspective.

Originality/value

This research will be beneficial in mapping the determinant of degree of Sharia compliance in Sharia banking in Indonesia, focusing on the contract agreement process.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

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