Sugeng Triwibowo, Defy Oktaviani, A. Ginanjar, Danu F. Ardiansyah
This paper examines the pass-through of the policy rate to conventional and Islamic bank rates during the recessionary and expansionary episodes for the case of Indonesia. Applying an error-correction modelling to monthly data from June 2014 to April 2021, our findings confirm that the interest rate pass-through is sensitive to the business cycle for both conventional and Islamic banks. The policy rate pass-through to deposit rates is higher during the recession for both banking types. We also note that the lending rates of conventional banks fully adjust to the policy rate in the recessionary phase. The findings for Islamic financing rates are interesting. Namely, they tend to move inversely with the policy rates during the expansionary period. Meanwhile, depending on the rates, they are either over-responsive or less responsive during the recessionary phase. Finally, the degree of short-run adjustment in most banking rates is not influenced by the business cycle. These findings suggest that Islamic banking rates are less synchronized to the monetary policy rate, indicating that sharia-based banking barely supports counter-cyclical monetary policy.
{"title":"POLICY RATES PASS-THROUGH IN INDONESIA’S DUAL BANKING SYSTEM: DOES BUSINESS CYCLE MATTER?","authors":"Sugeng Triwibowo, Defy Oktaviani, A. Ginanjar, Danu F. Ardiansyah","doi":"10.21098/jimf.v8i1.1424","DOIUrl":"https://doi.org/10.21098/jimf.v8i1.1424","url":null,"abstract":"This paper examines the pass-through of the policy rate to conventional and Islamic bank rates during the recessionary and expansionary episodes for the case of Indonesia. Applying an error-correction modelling to monthly data from June 2014 to April 2021, our findings confirm that the interest rate pass-through is sensitive to the business cycle for both conventional and Islamic banks. The policy rate pass-through to deposit rates is higher during the recession for both banking types. We also note that the lending rates of conventional banks fully adjust to the policy rate in the recessionary phase. The findings for Islamic financing rates are interesting. Namely, they tend to move inversely with the policy rates during the expansionary period. Meanwhile, depending on the rates, they are either over-responsive or less responsive during the recessionary phase. Finally, the degree of short-run adjustment in most banking rates is not influenced by the business cycle. These findings suggest that Islamic banking rates are less synchronized to the monetary policy rate, indicating that sharia-based banking barely supports counter-cyclical monetary policy.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"80 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72452430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the role of PLS financing and non-PLS financing of Islamic banks in supporting the real sector for the case of Indonesia using monthly data from January 2009 to December 2018. Applying the ARDL approach to model their long-run and short-run relations, we find positive contribution of the PLS financing scheme to Indonesia's economic growth. Comparing the PLS and non-PLS financing, we note that the PLS financing has a larger impact on growth, both in the long run and short run. Accordingly, for Islamic finance to have larger growth impact, concrete steps and initiatives must be put in place to increase Islamic financing based on PLS arrangements.
{"title":"THE ROLE OF PLS FINANCING ON ECONOMIC GROWTH: INDONESIAN CASE","authors":"M. Masrizal, Budi Trianto","doi":"10.21098/jimf.v8i1.1378","DOIUrl":"https://doi.org/10.21098/jimf.v8i1.1378","url":null,"abstract":"This paper investigates the role of PLS financing and non-PLS financing of Islamic banks in supporting the real sector for the case of Indonesia using monthly data from January 2009 to December 2018. Applying the ARDL approach to model their long-run and short-run relations, we find positive contribution of the PLS financing scheme to Indonesia's economic growth. Comparing the PLS and non-PLS financing, we note that the PLS financing has a larger impact on growth, both in the long run and short run. Accordingly, for Islamic finance to have larger growth impact, concrete steps and initiatives must be put in place to increase Islamic financing based on PLS arrangements. ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81936716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ruspita Rani Pertiwi, J. H. Tjakratmadja, Hary Febriansyah
This paper examines views of Islamic banks’ stakeholders, which can be used as bases for measuring and improving bank performance. Taking Indonesia as a case study, we compile information and data from both internal and external stakeholders through in-depth interview and FGD, code them using N-Vivo, and finally apply the stakeholder management framework for data analysis. The results we obtain suggest that the Internal stakeholder's view on IIB performance is relatively positive. Meanwhile, the external stakeholders tend to have varied views on Islamic banking performance. This research finds that the religious values promoted by Islamic banks can increase the company's value but at the same time it can also reduce the interest in Islamic banking. Based on these findings, it is necessary to investigate further how to strategize the religious values for the promotion of Islamic banking.
{"title":"REVITALIZING INDONESIAN ISLAMIC BANKING PERFORMANCE: A STAKEHOLDER ANALYSIS","authors":"Ruspita Rani Pertiwi, J. H. Tjakratmadja, Hary Febriansyah","doi":"10.21098/jimf.v7i4.1373","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1373","url":null,"abstract":"This paper examines views of Islamic banks’ stakeholders, which can be used as bases for measuring and improving bank performance. Taking Indonesia as a case study, we compile information and data from both internal and external stakeholders through in-depth interview and FGD, code them using N-Vivo, and finally apply the stakeholder management framework for data analysis. The results we obtain suggest that the Internal stakeholder's view on IIB performance is relatively positive. Meanwhile, the external stakeholders tend to have varied views on Islamic banking performance. This research finds that the religious values promoted by Islamic banks can increase the company's value but at the same time it can also reduce the interest in Islamic banking. Based on these findings, it is necessary to investigate further how to strategize the religious values for the promotion of Islamic banking.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85282163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Indonesia continues to strive to develop Islamic finance especially its Islamic banking and sukuk to support the real sector. The growth of Islamic finance in Indonesia is expected to encourage the development of the national economy. This study aims to investigate the impact of Islamic banking financing and sukuk financing on Indonesia’s industrial output. Applying the Autoregressive Distributed Lags (ARDL) framework to monthly data from January 2011 to December 2018, we find Islamic bank financing to contribute positively to the real sector in both the long and short term. In addition, we also document positive long run contribution of sukuk financing to industrial output . Indeed, over the long run, sukuk financing tends to have a greater real impact than Islamic banking financing. The results of the study implies that Islamic banking and sukuk play a vital role in supporting the real sector in Indonesia. Accordingly, recent initiatives by Indonesia to further develop its Islamic finance are steps in the right direction.
{"title":"SUKUK AND ISLAMIC BANKING FINANCING : HOW THE IMPACT FOR REAL SECTOR ?","authors":"Budi Trianto, M. Masrizal","doi":"10.21098/jimf.v7i4.1407","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1407","url":null,"abstract":"Indonesia continues to strive to develop Islamic finance especially its Islamic banking and sukuk to support the real sector. The growth of Islamic finance in Indonesia is expected to encourage the development of the national economy. This study aims to investigate the impact of Islamic banking financing and sukuk financing on Indonesia’s industrial output. Applying the Autoregressive Distributed Lags (ARDL) framework to monthly data from January 2011 to December 2018, we find Islamic bank financing to contribute positively to the real sector in both the long and short term. In addition, we also document positive long run contribution of sukuk financing to industrial output . Indeed, over the long run, sukuk financing tends to have a greater real impact than Islamic banking financing. The results of the study implies that Islamic banking and sukuk play a vital role in supporting the real sector in Indonesia. Accordingly, recent initiatives by Indonesia to further develop its Islamic finance are steps in the right direction. ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"183 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83554711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study measures the efficiency of Islamic banks in Indonesia using Data Envelopment Analysis (DEA) window methods for 14 Indonesia’s Islamic banks covering the period spanning from 2011 to 2020.. The results show that the efficiency of Islamic banks averages 80% and exhibits increasing trend over the period 2011-2020. Based on stability measures, which are standard deviation (SD), Long Distance per Window (LDW), Long Distance per Period (LDP), and Long Distance per Year (LDY), we find the efficiency of PT Bank BRI Syariah (BSI) and PT Bank Syariah Mandiri (BSI) to be relatively stable.
本研究采用数据包络分析(DEA)窗口方法，对2011年至2020年期间印尼14家伊斯兰银行的效率进行了衡量。结果表明，2011-2020年期间，伊斯兰银行的效率平均为80%，并呈上升趋势。基于标准差(SD)、每窗口距离(LDW)、每周期距离(LDP)和每年距离(LDY)等稳定性指标，我们发现PT Bank BRI Syariah (BSI)和PT Bank Syariah Mandiri (BSI)的效率相对稳定。
{"title":"DEA WINDOW ANALYSIS FOR INDONESIAN ISLAMIC BANKS’ EFFICIENCY","authors":"A. Rusydiana, Aisyah As-Salafiyah","doi":"10.21098/jimf.v7i4.1410","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1410","url":null,"abstract":"This study measures the efficiency of Islamic banks in Indonesia using Data Envelopment Analysis (DEA) window methods for 14 Indonesia’s Islamic banks covering the period spanning from 2011 to 2020.. The results show that the efficiency of Islamic banks averages 80% and exhibits increasing trend over the period 2011-2020. Based on stability measures, which are standard deviation (SD), Long Distance per Window (LDW), Long Distance per Period (LDP), and Long Distance per Year (LDY), we find the efficiency of PT Bank BRI Syariah (BSI) and PT Bank Syariah Mandiri (BSI) to be relatively stable.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75511301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Ibrahim, Nasim S. Shirazi, Amin Mohseni-Cheraghlou
The relationship between financial development and energy intensity is yet firmly established as the literature is emerging, and the few empirical studies that have been done provide conflicting results. Whereas some conclude a U-shaped relationship between financial development and energy intensity, others show a linear relationship between the two variables. This study investigates the relationship between financial development and energy intensity by focusing on the role of Islamic financial development. The study covers 30 countries where Islamic banks are present. Using the fixed-effects panel model, the empirical results suggest that Islamic banking development significantly increases energy intensity in the sample countries. We also identify other important factors that increase energy intensity. These include carbon emissions, renewable energy use and energy imports. The findings point to the importance of designing policies to incentivize Islamic banks and Shari'ah-compliant investors to finance clean energy technologies as a potent tool for reducing energy intensity, achieving sustainable development, and greening Islamic finance.
{"title":"ISLAMIC FINANCIAL DEVELOPMENT IMPACT ON ENERGY INTENSITY: EVIDENCE FROM ISLAMIC BANKS","authors":"A. Ibrahim, Nasim S. Shirazi, Amin Mohseni-Cheraghlou","doi":"10.21098/jimf.v7i4.1409","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1409","url":null,"abstract":"The relationship between financial development and energy intensity is yet firmly established as the literature is emerging, and the few empirical studies that have been done provide conflicting results. Whereas some conclude a U-shaped relationship between financial development and energy intensity, others show a linear relationship between the two variables. This study investigates the relationship between financial development and energy intensity by focusing on the role of Islamic financial development. The study covers 30 countries where Islamic banks are present. Using the fixed-effects panel model, the empirical results suggest that Islamic banking development significantly increases energy intensity in the sample countries. We also identify other important factors that increase energy intensity. These include carbon emissions, renewable energy use and energy imports. The findings point to the importance of designing policies to incentivize Islamic banks and Shari'ah-compliant investors to finance clean energy technologies as a potent tool for reducing energy intensity, achieving sustainable development, and greening Islamic finance.","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"169 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77529418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Al Haq, Norazlina Abd. Wahab, Md. Mahmudul Alam
This study examines the impact of zakat on the life sustainability of individuals. The data were collected from 427 returned questionnaires from zakat recipients in eleven districts of Kedah. Using PLS-SEM, it was found that asnafs’ receiving offers a very low level of assistance that provides little empowerment. The results support the notion that institutional contributory performance has a positive effect and that the level of sustainability does increase after receiving zakat, but there are issues that need to be addressed carefully. The study further examines the moderating role of demographic factors, such as earnings, age, marital status and gender. It initiated a newer dimension through incorporating before-zakat and after-zakat scenarios in examining their comparative impact on sustainability.
{"title":"UNDERSTANDING THE IMPACT OF INSTITUTIONAL FACTORS ON ASNAF’S SUSTAINABILITY: A PLS-SEM APPROACH","authors":"M. Al Haq, Norazlina Abd. Wahab, Md. Mahmudul Alam","doi":"10.21098/jimf.v7i4.1289","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1289","url":null,"abstract":"This study examines the impact of zakat on the life sustainability of individuals. The data were collected from 427 returned questionnaires from zakat recipients in eleven districts of Kedah. Using PLS-SEM, it was found that asnafs’ receiving offers a very low level of assistance that provides little empowerment. The results support the notion that institutional contributory performance has a positive effect and that the level of sustainability does increase after receiving zakat, but there are issues that need to be addressed carefully. The study further examines the moderating role of demographic factors, such as earnings, age, marital status and gender. It initiated a newer dimension through incorporating before-zakat and after-zakat scenarios in examining their comparative impact on sustainability. \u0000 \u0000 \u0000 ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"48 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78832308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. I. A. Jalil, Suddin Lada, M. Bakri, Zakiah Hassan
This research aims to study the effects of social media marketing strategies on the repurchase intention among suppliers of halal cosmetics in the context of Malaysia. The study, based on the theory of social media marketing, identifies these ties, and considers the mediating functions of word-of-mouth brand recognition and electronic word-of-mouth communication (e-WOM). The work takes a holistic view of brand recognition and e-WOM with reference to the two main relations, social media marketing strategy and repurchasing intention. The partial least squares structural equation modelling (PLS-SEM) method was employed and data collected from 300 respondents (followers) via an online questionnaire. The results indicate that there is a significant influence of social media marketing (SMM) on repurchase intention, brand awareness, and e-WOM; the impact is higher on brand awareness, followed by repurchase intention and eWOM. These results demonstrate that efficient brand management of the use of social media platforms will help increase brand awareness among halal cosmetics buyers. When used correctly, SMM may assist the distribution and communication of the most up-to-date information on cosmetic products and brands, resulting in increased awareness and repurchase intent. At the same time, eWOM is a useful tool for their respective followers to disseminate information. The research has important implications for the halal cosmetics sector, as it contributes to the theoretical and management literature on social media marketing strategy.
{"title":"HALAL COSMETICS REPURCHASE INTENTION: THE ROLE OF MARKETING ON SOCIAL MEDIA","authors":"M. I. A. Jalil, Suddin Lada, M. Bakri, Zakiah Hassan","doi":"10.21098/jimf.v7i4.1379","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1379","url":null,"abstract":"This research aims to study the effects of social media marketing strategies on the repurchase intention among suppliers of halal cosmetics in the context of Malaysia. The study, based on the theory of social media marketing, identifies these ties, and considers the mediating functions of word-of-mouth brand recognition and electronic word-of-mouth communication (e-WOM). The work takes a holistic view of brand recognition and e-WOM with reference to the two main relations, social media marketing strategy and repurchasing intention. The partial least squares structural equation modelling (PLS-SEM) method was employed and data collected from 300 respondents (followers) via an online questionnaire. The results indicate that there is a significant influence of social media marketing (SMM) on repurchase intention, brand awareness, and e-WOM; the impact is higher on brand awareness, followed by repurchase intention and eWOM. These results demonstrate that efficient brand management of the use of social media platforms will help increase brand awareness among halal cosmetics buyers. When used correctly, SMM may assist the distribution and communication of the most up-to-date information on cosmetic products and brands, resulting in increased awareness and repurchase intent. At the same time, eWOM is a useful tool for their respective followers to disseminate information. The research has important implications for the halal cosmetics sector, as it contributes to the theoretical and management literature on social media marketing strategy. \u0000 \u0000 \u0000 \u0000 \u0000 ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"189 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83455709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Micro-, small and medium-sized enterprises (MSMEs) face numerous obstacles, such as a lack of funding, which hinder their growth and expansion. They must have access to long-term funding to improve and modernise their operations competitively. This study aims to incorporate Shariah-compliant crowd funding among MSMEs in Borno state of Nigeria. It applies partial least squares structural equation modelling (PLS-SEM) on a sample of 341 MSMEs and recommends the need to educate and enlighten them about the benefits of Islamic crowdfunding. The study also recommends the need to produce guidelines that will help in developing a legal and regulatory framework for the incorporation of crowdfunding into corporate financing structures. Finally, it is recommended that religious leaders at various levels organise educational programmes on the importance of Shariah-compliant crowdfunding.
{"title":"AN ASSESSMENT OF THE INTENTION TO ACCEPT SHARIAH COMPLIANT CROWDFUNDING MODE OF FINANCING IN BORNO STATE, NIGERIA","authors":"Sagir Muhammad Sulaiman, Y. Muhammad, M. Muhammad","doi":"10.21098/jimf.v7i4.1271","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1271","url":null,"abstract":"Micro-, small and medium-sized enterprises (MSMEs) face numerous obstacles, such as a lack of funding, which hinder their growth and expansion. They must have access to long-term funding to improve and modernise their operations competitively. This study aims to incorporate Shariah-compliant crowd funding among MSMEs in Borno state of Nigeria. It applies partial least squares structural equation modelling (PLS-SEM) on a sample of 341 MSMEs and recommends the need to educate and enlighten them about the benefits of Islamic crowdfunding. The study also recommends the need to produce guidelines that will help in developing a legal and regulatory framework for the incorporation of crowdfunding into corporate financing structures. Finally, it is recommended that religious leaders at various levels organise educational programmes on the importance of Shariah-compliant crowdfunding. \u0000 \u0000 ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84431619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Women entrepreneurship is a highly stressful initiative which requires mental efforts related to psychological characteristics. In some Islamic families, women are less empowered, as their mobility is constrained and certain traditions and values observed by society affect their achievement in business. Therefore, this study aims to investigate the effects of several psychological capital (PC) factors on the business performance (BP) of Muslim women entrepreneurs (MWEs) in Sri Lanka. The measurement of PC entails the factors of need for achievement (NA), risk taking (RT), internal locus of control (ILC), and independent motives (IM). Data were collected using a structured questionnaire; the study sample involved 260 MWEs from Sri Lanka’s Eastern Province selected via the simple random sampling technique. The structural equation modeling (SEM) method with AMOS was used to test the proposed hypotheses. The findings show that only RT had a significant and positive impact on BP, whereas NA, ILC, and IM did not significantly influence the BP of MWEs in Sri Lanka. In short, those who were risk takers were able to make positive achievements in their business ventures. The study findings provide evidence of the significance of family members, spouses and social stigma on the MWEs’ psychological state and ultimately their business performance.
{"title":"IMPACT OF PSYCHOLOGICAL CHARACTERISTICS ON BUSINESS PERFORMANCE OF MUSLIM WOMEN ENTREPRENEURS IN SRI LANKA","authors":"M. S. Ummah","doi":"10.21098/jimf.v7i4.1380","DOIUrl":"https://doi.org/10.21098/jimf.v7i4.1380","url":null,"abstract":"Women entrepreneurship is a highly stressful initiative which requires mental efforts related to psychological characteristics. In some Islamic families, women are less empowered, as their mobility is constrained and certain traditions and values observed by society affect their achievement in business. Therefore, this study aims to investigate the effects of several psychological capital (PC) factors on the business performance (BP) of Muslim women entrepreneurs (MWEs) in Sri Lanka. The measurement of PC entails the factors of need for achievement (NA), risk taking (RT), internal locus of control (ILC), and independent motives (IM). Data were collected using a structured questionnaire; the study sample involved 260 MWEs from Sri Lanka’s Eastern Province selected via the simple random sampling technique. The structural equation modeling (SEM) method with AMOS was used to test the proposed hypotheses. The findings show that only RT had a significant and positive impact on BP, whereas NA, ILC, and IM did not significantly influence the BP of MWEs in Sri Lanka. In short, those who were risk takers were able to make positive achievements in their business ventures. The study findings provide evidence of the significance of family members, spouses and social stigma on the MWEs’ psychological state and ultimately their business performance. \u0000 ","PeriodicalId":31622,"journal":{"name":"Journal of Islamic Monetary Economics and Finance","volume":"143 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86020040","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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