https://ejournal.uinsaid.ac.id/index.php/jifa/issue/feed JIFA (Journal of Islamic Finance and Accounting) 2024-08-20T19:04:54+07:00 Bayu Sindhu Raharja jifa.iainsurakarta@gmail.com Open Journal Systems <p><strong>JIFA (Journal of Islamic Finance and Accounting)</strong>, (e-ISSN: <a href="https://portal.issn.org/resource/ISSN/2615-1782">2615-1782</a>; p-ISSN: <a href="https://portal.issn.org/resource/ISSN/2615-1774" target="_blank" rel="noopener">2615-1774</a>), is a peer-reviewed open-access journal published <strong>TWO TIMES</strong> a year <strong>(May &amp; November)</strong> by the <strong>Department of Sharia Accounting</strong> <a href="https://febi.uinsaid.ac.id/" target="_blank" rel="noopener">Faculty of Islamic Economics and Business UIN Raden Mas Said Surakarta</a> Indonesia in collaboration with <strong>Ikatan Ahli Ekonomi Indonesia (IAEI)</strong> Jawa Tengah, Indonesia (see <a href="https://drive.google.com/file/d/1V9WNU-8xSVMmqEiC-fV1-Ha9r_2Rw9nK/view?usp=sharing">the MoU manuscript</a>)<strong>.</strong> Our aim is to publish innovative scholarly inquiry of contemporary issues concerning on Islamic Finance and Accounting.</p> <p>The topic of <strong>Islamic Finance </strong>limits its discussion on financial matters such as sharia capital market, sharia banking, financial technology, Islamic philanthropy (Zakat, Waqf, Infaq, etc.) and behavioral finance. Meanwhile, the theme of <strong>Accounting </strong>directs the discourses about development of accounting concept, behavioural accounting, auditing, taxation, accounting information system, and public sector accounting. Papers on accounting isues relating to developing in other fields such as finance, small-medium enterprises, and givernment operations are also welcome. </p> <p><span data-preserver-spaces="true">JIFA was first published in 2018 with twice per year of frequency in May and November. Currently, this journal has been </span><span data-preserver-spaces="true">accredited by the <a href="https://arjuna.kemdikbud.go.id/" target="_blank" rel="noopener">Indonesian Ministry of Research, Technology and Higher Education (RistekDikti) of the Republic of Indonesia</a> in SINTA (</span><a href="https://sinta.kemdikbud.go.id/journals/profile/6817" target="_blank" rel="noopener"><span data-preserver-spaces="true">Achieving SINTA 4</span></a><span data-preserver-spaces="true">) since <strong>August 3, 2020</strong>. The recognition was published in Director Decree </span><a class="editor-rtfLink" href="https://drive.google.com/file/d/153DhAg7en5Xb04KgxMAvSK_hH4lGVqoq/view?usp=sharing" target="_blank" rel="noopener">(SK No. 148/M/KPT/2020)</a><span data-preserver-spaces="true">, effective until 2023. Starting from 2024, JIFA has been accredited SINTA 3 based on the decree of Directorate of Higher Education, Research and Technology the Ministry of Education and Culture of Republik of Indonesia Number 72/E/KPT/2024 dated on 15 May 2024 (<a href="https://drive.google.com/file/d/1sUrEM7FfJsux-8IYADks4EJefsKL3XcG/view?usp=sharing">see the Declaration Letter</a>).</span></p> https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9218 Unveiling the Influence of Board Dynamics and Transparency on Capital Structure in the Banking Sector 2024-06-05T14:50:50+07:00 Devi Lestari lestaridevi2602@gmail.com Aryani Intan Endah Rahmawati tugasakuntansioke@gmail.com <p>Capital structure volatility in banking companies often stems from financial fraud, eroding public trust and leading to customer fund withdrawals. This study investigates the effects of board size, performance transparency, profitability, and company size on the capital structure of banking firms listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. Using purposive sampling, 181 data points were analyzed through multiple linear regression with EViews 10. The results reveal that board size, profitability, and company size significantly influence capital structure, while performance transparency shows no significant impact. These findings provide valuable insights for banking management in optimizing funding strategies and enhancing risk management practices. The study contributes to the broader understanding of how internal governance dimensions and company metrics shape capital structure decisions, offering practical guidance for enhancing corporate financial stability.</p> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 Devi Lestari, aryani intan endah rahmawati rahmawati https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9736 Key Drivers of Village Fund Management Accountability: Insights from Sukoharjo District 2024-08-06T09:08:39+07:00 Khoirudin Khoirudin masdin.11a@gmail.com Noer Sasongko ns243@ums.ac.id Banu Witono bw257@ums.ac.id <p>This study investigates the impact of the government's internal control system, the village financial system application (Siskeudes), and the competence of village apparatus on the accountability of village fund management in Sukoharjo District. Utilizing a quantitative approach, data were collected from a sample of village apparatus using a simple random sampling technique. Respondents, who are operators of the Siskeudes application, provided insights through a structured questionnaire. The data were analyzed using multiple regression analysis. The findings reveal that both the government's internal control system and the Siskeudes application significantly enhance the accountability of village fund management. However, the competence of the village apparatus does not have a significant effect on accountability. These results suggest that robust internal controls and effective financial systems are critical for ensuring transparency and accountability in village fund management. The study contributes to the ongoing discourse on public fund management by highlighting the importance of technological and systemic factors over individual competencies in achieving accountable governance.</p> <h3> </h3> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 khoirudin khoirudin, Noer Sasongko, Banu Witono https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/8055 Strengthening Governance in Higher Education: The Role of Internal Audit as the Third Line of Defense 2023-12-08T15:17:35+07:00 Rumiyati Rumiyati rumi_yati@ugm.ac.id Nabella Duta Nusa nabella@gmail.com <p>This study examines the internal audit functions at four universities, both public and private, in the Special Region of Yogyakarta, Indonesia, with a focus on their contribution to governance and their role as the organization's third line of defense, as recommended by The Institute of Internal Auditors. Employing a qualitative research approach, the study utilizes descriptive data analysis to assess the effectiveness of internal audits in these institutions. The findings reveal that while the internal audit functions in both state and private universities receive adequate organizational support, they face resource constraints, particularly in state universities that are not yet legally incorporated and private universities with newly established audit functions. The study also highlights the diversity of audit activities, including review and consultation, with more established internal audit units demonstrating greater variety and depth in their assignments. Moreover, the internal audit function emerges as a strategic partner in risk management, effectively serving as the third line of defense through regular coordination and communication with university management. This research underscores the critical role of internal audits in enhancing governance and managing risks within the higher education sector.</p> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 Rumiyati Rumiyati https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9561 Integrating Islamic Spirituality into Management Control Systems: A Case Study of Sharia-Based Leadership 2024-07-09T10:47:09+07:00 Tatik Tatik tatik.pawiro@uii.ac.id Falikhatun Falikhatun falie.feuns17@gmail.com <p>This study aims to explore the practice of Management Control Systems (MCS) rooted in Islamic spiritual values. Utilizing an interpretive qualitative method with a single case study approach, data were collected through interviews, observations, and document analysis. The analysis of MCS was guided by principles derived from Islamic spirituality. The findings reveal that the spiritual values of the leaders, deeply influenced by the Al-Qur'an, Shiroh Nabawi, and their engagement with various Islamic communities, foster spiritual maturity. This spiritual foundation shapes wise leadership and results in an MCS that effectively steers the organization towards its intended goals. The implications of this research suggest that Muslim leaders should integrate Islamic character into the design of MCS, ensuring that organizations operate effectively to achieve both worldly and spiritual objectives, ultimately contributing to the well-being of the broader universe. The novelty of this study lies in its provision of new insights into the expression of MCS practices based on Islamic spirituality, the development of Islamic leadership character, and the connection between MCS and Sharia-compliant agreements.</p> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 Tatik CA, Falikhatun https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9735 Macroeconomic Dynamics and Sustainability Index Reporting: An Islamic Economic Perspective on ASEAN Markets 2024-08-05T19:51:08+07:00 Jonathan Bimantoro jonathanbimantoro@gmail.com Madnasir Madnasir madnasir@gmail.com Ersi Sisdianto ersi@gmail.com <p>This study investigates the relationship between macroeconomic variables and stock indices within the framework of Sustainability Index Reporting in selected ASEAN countries, incorporating an Islamic Economic perspective. Utilizing quantitative data from 2018 to 2022, the research employs panel data regression analysis, specifically a fixed effect model approach, to explore the impact of key economic indicators. The results indicate that GDP growth rate, population, interest rates, and exchange rates collectively have a significant effect on Sustainability Index Reporting, affirming the suitability of the regression model. Individually, the analysis reveals that GDP growth rate and exchange rates positively influence the Sustainability Index, while population and interest rates exert a negative impact. Moreover, GDP growth rate and interest rates are identified as significant factors, whereas population and exchange rates show an insignificant influence. These findings underscore the importance of macroeconomic stability in shaping sustainable financial practices in ASEAN markets, offering insights into the integration of Islamic economic principles in enhancing sustainable development and financial reporting.</p> <h3> </h3> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 jonathan bimantoro https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9511 Amplifying Corporate Value: The Role of Media Exposure in Enhancing CSR Impact—Insights from the Jakarta Islamic Index 30 2024-07-01T19:58:36+07:00 Oviya Widyastuti oviyawidyastuti06@gmail.com Edi Cahyono edi.cahyono@gmail.com <p>This study investigates the impact of Corporate Social Responsibility (CSR) on company value, with a particular focus on the moderating role of media exposure, using companies listed on the Jakarta Islamic Index 30 from 2020 to 2022 as a case study. Employing a quantitative approach, secondary data was analyzed using panel data multiple regression through Eviews 9 software. The findings reveal that CSR has a significant positive effect on company value, highlighting the importance of socially responsible practices in enhancing firm valuation. Although media exposure alone was found to have an insignificant positive effect on company value, it significantly strengthens the relationship between CSR and company value. These results underscore the critical role media exposure plays in amplifying the benefits of CSR initiatives, suggesting that companies should strategically leverage media to maximize the value derived from their CSR activities. This research contributes to the literature by providing empirical evidence on the synergistic effect of CSR and media exposure, offering valuable insights for corporate strategy development in enhancing firm value.</p> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 Oviya Oviya Widyastuti https://ejournal.uinsaid.ac.id/index.php/jifa/article/view/9753 Islamic Economic Perspective on Balancing Growth and Equity: A Quantitative Analysis of Inflation and Investment in ASEAN Economies 2024-08-07T19:59:16+07:00 Rizal Mahmudin rizalmahmudin24@gmail.com Madnasir rizalmahmudin24@gmail.com Ersi Sisdianto rizalmahmudin24@gmail.com <p>This study examines the interplay between inflation, investment, unemployment, and poverty and their collective impact on sustainable economic growth within the ASEAN region over the period from 2018 to 2022. Employing a quantitative approach with panel data analysis, the research focuses on five developing ASEAN countries. The analysis reveals that both inflation and unemployment significantly influence sustainable economic growth, while investment and poverty also play critical roles in shaping economic outcomes. From an Islamic economic perspective, the findings highlight the necessity of balancing material growth with spiritual values, environmental stewardship, justice, ethics, and community empowerment. This study underscores that economic growth should not only focus on immediate gains but must also prioritize long-term sustainability, ensuring that development benefits both current and future generations. The implications of this research offer valuable insights for policymakers in developing holistic strategies that align with Islamic economic principles, promoting equitable and sustainable growth.</p> 2024-08-20T00:00:00+07:00 Copyright (c) 2024 Rizal Mahmudin, Madnasir, Ersi Sisdianto