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This paper aims to get an overview and determine the effect of the level of application of Islamic wealth management (IWM) and the level of business continuity of Muslim owners in influencing the level of household prosperity of Muslim micro, small and medium enterprise (MSME) owners during the Covid-19 pandemic.

The method of hypothesis testing is carried out through a quantitative approach. The type of analysis tool used is partial least square-structural equation modeling. The sample used is 212 Muslim MSME owners in Indonesia.

The results showed that the level of application of IWM, the level of business sustainability and the level of household prosperity of Muslim MSME owners were in the high category. All variables in this study showed positive and significant results.

The research conducted is still limited to households that act as MSME actors, so the respondents who are in it are still not diverse. Also, limited research tools and pandemic conditions led to filling out questionnaires based on respondents’ subjective views and difficulty asking questions when questions were not understood.

This research provides new insights focusing on the relationship between the variable level of application of IWM in influencing the welfare level of Muslim households who have MSMEs, where there is a role for the level of business sustainability as a mediator variable.

The primary objective of this study aims to intensively explore the environment of Indonesian regulations and laws related to the Islamic banking system and micro-, small- and medium-sized enterprises (MSME) and unveil the restrictive laws and regulatory flaws that potentially hinder the Islamic banking institution and MSME industry in achieving financial inclusion and promoting sustainable growth.

This paper implements a qualitative method by implementing a multi-case study research strategy, both from the Islamic banking institutions and the MSME industries. The data were gathered primarily through an interview approach by adopting purposive uncontrolled quota sampling.

The findings of this paper reveal two essential issues: First, the regulatory imbalances and restrictions could demotivate and hinder the efforts of Islamic banks in providing access to finance for the MSME segment, hence, encumbering the achievement of the financial inclusion agenda from the Islamic banking industry. Second, the flaws in MSME registration and taxation might discourage the formal MSMEs from extending their business license and prevent the informal MSME units from registering their business. This issue would potentially lower their chance of accessing external financing from the formal financial institutions and participating in supportive government programmes due to the absence of proper legality.

Since this paper only observed six Islamic banks and 22 MSME units in urban and rural locations in Indonesia using a case study approach, the empirical findings and case discussions were limited to those respective Islamic banks and MSME participants.

By referring to the recommendations as presented in this paper, two critical policy implications could be expected from adopting the proposed recommendations, among others: By addressing the issues of the regulatory imbalance associated with the Islamic banking industry and introduce the deregulatory policies on profit and loss sharing (PLS) scheme implementation, this approach will motivate the Islamic banking industry in serving the MSME sector better and provide greater access to financial services, particularly in using the PLS financing schemes. By resolving the problems on MSME registration and taxation, this strategy will enhance the sustainability of the formal MSMEs’ operation and encourage the informal ones to register, hence, improving their inclusion into the formal financing services and government assistance programmes.

The present study attempts to address the literature shortcomings and helps to fill the gaps – both theoretical and empirical – by incorporating the multi-case study among Indonesian Islamic banks and MSMEs to extensively explore the Indonesia regulatory environment pertaining to the Islamic banking system (supply-side) and MSMEs (demand-side), and thoroughly investigates and reveals the restrictive laws and regulatory flaws that could potentially hinder the Islamic banking institutions and MSME industries in attaining financial inclusion and contributing to sustainable development.

According to the Ministry of Tourism and Creative Economy, there are 7,275 indigenous tourism enterprises in Indonesia. However, only 0.5% of these are certified as a sustainable tourism village. One of them is the Karangrejo village in Borobudur, Indonesia. This village is able to sustain their enterprise, which is a unique and rare context. This study aims to address this gap by examining the sense of place value created from the collaboration between actors, mapping the actors and their resources who have crucial roles in indigenous tourism enterprise, and examining the relations between actors, mapping the characteristics and efforts made by the indigenous tourism enterprise. The novelty of this research is the unique context that it takes place, and the use of comprehensive theoretical perspectives combining architecture, sociological social psychology and marketing/business theories in tourism context, which is uncommon for research in this area.

Participants in this study were 17 individuals, comprising Village Chief, accompanying state-owned enterprises, tourists, owners of micro, small and medium enterprises, village economic center manager and village-owned enterprises manager. Data were collected from interviews and field recordings using purposive sampling technique. The study design was a case study. The data were coded in two steps: first cycle and second cycle coding. Member checking with research participants was conducted to ensure data credibility.

This study revealed several novel findings. First, sense of place value was not merely perceived as material and nonmaterial components, but also as networks between actors that were involved in creating such components within (value) exchange framework. Second, the actors involved in the exchange were provider actor, external supporter actor, internal supporter actor, collaborator actor and consumer actor. Each of these actors owned one or a combination of material and nonmaterial values that are exchangeable. Mapping of the actors involved was discussed using a combined perspective of consumer-centric and balanced network. Third, exchange relations that occurred between actors could be balanced or imbalanced, depending on the amount of resource owned by each actor. Nonetheless, imbalanced relations because of discrepancies in the value contributions could still have positive impact because it was motivated by the intention to help others. Fourth, this study identified the importance of having characteristics as resource integrator/gatherer for indigenous tourism enterprise (provider actor) to ensure the economic sustainability of their business.

This study was conducted during the COVID-19 pandemic, where governments imposed strict travel restrictions. Consequently, data from tourists were limited in particular, the lack of perspectives from international tourists. During the data collection, the government were still limiting international travelers to visit the country, hence only domestic tourists were able to visit. The perspectives of international tourists would have added valuable data. Because of pandemic, the data collection process was initially conducted online, which was then followed by in-person data collection. Online data collection is common in research; however, in-person data collection would have been more preferred, where possible, so that the researchers could directly observe the situation in context. Future research could be conducted after the pandemic ends. Furthermore, findings of this research asserted the importance of actors’ motives, situations, quality of the values and relational attributes, but had not discussed these in detail, especially from the perspective of each actor. Future research could address this limitation.

Enhancing material and nonmaterial sense of place value would involve multiple actors. Therefore, mapping of the resources owned by these actors as well as their roles is critical. To create sense of place value, synergy between actors is essential and could not be achieved by a single actor. Every actor is influenced by motives and circumstances when interacting with the other actor. Awareness of such motives and circumstances where the exchange takes place is necessary, to ensure that the cultivated relationship aligns with the goals and expectations. As exchange relations could be balanced or imbalanced, every actor also needs to be aware of their position and continuously evaluate it to avoid being constantly in a powerless position. Indigenous tourism enterprise could not singlehandedly provide every resource needed. Therefore, developing a character as a gatherer/resource integrator becomes crucial to gain access to all necessary resources. Currently, there are no tools available for identifying actors, resources and relational attributes. This could be a potential avenue for academics in this area. Further, the government should identify the best practice from the successful indigenous tourism enterprises, not only giving recognition awards or certifications to these enterprises.

Findings from this study have several contributions; among others, it discussed sense of place value of indigenous tourism enterprise more comprehensively, as the essential actors who exchange resources were identified. This study also underlined positive power imbalance, which had been generally seen as a negative dynamic. Moreover, this study highlighted that indigenous people, despite living by communal value (non-transactional) in their daily lives, would need to engage in transactional relations and develop resource integrator characteristics to maintain tourism enterprise. Indigenous people have often been seen from their communal side, while their transactional (non-communal) side has been rarely seen.

The purpose of this study is to simultaneously examine the role of microfinance from the business and social lenses by using the creating shared value (CSV) framework by Porter and Kramer (2011) in the context of Indonesia.

A survey among more than 170,000 borrowers of two specific credit schemes by PT Bank Rakyat Indonesia Tbk., the largest microfinance provider in Indonesia, was conducted to understand the perceptions of borrowers on the benefits of microcredit under the CSV framework.

The result confirms that, overall, the debtors acknowledged the importance of the loans in various aspects of CSV. The highest levels of importance were recorded in the case of stimulating the increase of business revenue growth, business productivity and fulfilling the needs of consumers. Disaggregating the results based on respondents’ demographic characteristics, it is shown that the findings in both credit schemes have a relatively similar pattern in terms of origin, business sectors and the borrowing purpose from.

There have been limited studies that examine the impact of microfinance from both the business and social perspectives. Most studies only use one of these. Implementing the CSV framework allows the authors to fill in the gap and understand how microfinance provides business and social benefits.

This study aims to examine the influence of ownership structure and board characteristics on the performance of Indonesian Islamic rural banks (IRB) using the system generalized method of moment model.

This research uses Indonesian IRB unbalanced annual panel data from 2016 to 2022. IRB performance is measured by return on assets (ROA), return on equity (ROE) and nonperforming financing (NPF). The ownership structure is represented by controlling shareholders, ownership of the board of directors (BD) and ownership of the board of commissioners (BC). Meanwhile, board characteristics are represented by the size of the BC, the proportion of female board directors and female president directors.

The results show that the ownership structure and board characteristics play an important role in improving the IRB’s performance. Technically, the results show that the size of the BC and the ownership of the BD increase all IRB performance measures. Female president directors and controlling shareholders improve IRB’s performance as measured by ROA and ROE. Women’s boards of directors improve IRB performance as measured by NPF. Meanwhile, the ownership of the BC does not show its effect on all IRB performance measures.

This study fills a literature gap on the influence of ownership structure and board characteristics on IRB Indonesia’s performance. In addition, it adds understanding and insight for Islamic bank regulators, management and IRB depositors in Indonesia.

To the best of the authors’ knowledge, this study is one of the first to provide an empirical survey on the influence of controlling shareholders and board characteristics on IRB performance, particularly in Indonesia.

The purpose of this study is to explore growth models based on “industry-based capabilities”, “resources-based capabilities” and “institution-based capabilities” in the context of the determinants of micro, small and medium enterprises’ (MSMEs) actors’ intention to grow.

This study involved 188 owners/managers of MSMEs. The analysis was conducted using partial least squares structural equation modelling. Moreover, the importance-performance map analysis package is used to complement the study findings.

This study uses the framework of the resource-based view (entrepreneurial knowledge), industrial-based view (industrial linkage) and institutional-based view (government support and access to finance) as proxies of the tripod-based view framework. The findings show that entrepreneurial knowledge (skills, competencies and functional), government support, access to finance and industrial linkage (vertical and horizontal) significantly encourage MSMEs’ owner/manager growth intention.

Firstly, this study suggests that MSMEs actors focus on developing entrepreneurial knowledge to boost the skills, competencies and functionalities needed to improve their business capabilities, directly affecting their growth intention. Secondly, this study indicates that the growth intention of MSME players, besides increasing internal capacity, must also be supported by the external environment, such as financial institutions, government and industrial linkage.

This study offers a tripod-based view as a framework for MSMEs’ actors’ intention to grow, where the constructs in the model used so far have not been explored comprehensively in the context of MSMEs. So, the built model brings more relevant factors to explain this topic from various perspectives.

Small and medium enterprises (SMEs) in emerging economies face significant challenges in formulating effective strategies to enter international markets, particularly amid uncertain conditions such as the COVID-19 pandemic. Consequently, there is a pressing need to examine the performance of these SMEs and evaluate their internationalization process. This study aims to examine the effects of international entrepreneurial orientation on the internationalization performance of SMEs and the mediating effects of organizational dynamic capability and organizational culture in Indonesia.

This study used a quantitative method with a survey approach by distributing questionnaires to 206 SMEs in Indonesia that have implemented internationalization practices. Partial least squares-structural equation modeling (PLS-SEM) was used to predict and estimate relationships.

This study finds that one of the SMEs’ strategies to encounter the new normal era of COVID-19 is to improve their internationalization performance, especially by actively participating in international markets. The empirical results show that organizational dynamic capabilities and organizational culture are proven to fully mediate the relationship between international entrepreneurial orientation and the internationalization performance of SMEs. Meanwhile, international entrepreneurial orientation does not directly affect SMEs’ internationalization performance. This study confirms the mediating role of organizational dynamic capabilities and organizational culture in dynamic capabilities theory and their relevance to internationalization.

This study provides valuable insights and encourages owner-managers and policy-makers in emerging economies, particularly Indonesia, to develop organizational dynamic capabilities and organizational culture that align with the demands of internationalization.

This study investigates the behaviour of family firms, family management and family ownership regarding their socioemotional wealth (Corporate Social Responsibility (CSR)) during the COVID-19 pandemic and according to their slack resources availability.

This study employs a multiple regression analysis to analyse 245 firm-year observations from 2020 to 2021.

Family firms have a negative effect on CSR, as do family management and family ownership. Slack resources (both absorbed and unabsorbed) reduce the negative effect of family firms (and family ownership) on CSR. Unabsorbed slack resources reduce the negative effect of family management on CSR and absorbed slack resources increase the negative effect of family management on CSR. The results are robust with various measurements of slack resources. Extra analyses reveal that family commissioner has no effect on CSR.

To the best of the author’s knowledge, this is the first empirical study to analyse the impact of COVID-19 on the preservation of socioemotional wealth in family firms. This study proves the theoretical argument of prior studies that the preservation of socioemotional wealth in family firms during the COVID-19 pandemic depends on their financial condition. The study also proves that there are different attitudes among family ownership, family management and family firms concerning the use of slack resources for socioemotional wealth preservation that have not been analysed by previous research.

This research aims to provide a predictive model assessment on the effect of information sharing on fresh produce supply chain (FPSC) performance during the COVID-19 pandemic by incorporating information quality as an important part of information sharing, as well as cognitive and affective appraisals as part of a social learning process (mediators) into the model.

An online survey was conducted on 197 small fresh produce (fruits and vegetables) retailers in Indonesia during the COVID-19 pandemic. The data were analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM) particularly PLSpredict supported by SmartPLS 4 software.

This research reveals that information sharing is positively and significantly associated with information quality and that the two constructs are not directly associated with FPSC performance. The path analysis suggests that the effect of information sharing on FPSC performance is fully mediated by cognitive and affective appraisals to the information-sharing activity. It also suggests that the effect of information quality on FPSC performance is fully mediated by affective rather than cognitive appraisal. This model shows a high predictive power and highlights the pivotal role of the learning process during the COVID-19 pandemic.

This research is the first to employ a predictive model assessment in PLS-SEM to empirically predict the effect of information sharing on FPSC performance using a social learning perspective, particularly in the context of the COVID-19 pandemic.