Wahyu Jatmiko, Banu Muhammad Haidlir, A. Azizon, Bambang Shergi Laksmono and Rahmatina Kasri
The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the…
Abstract
Purpose
The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem.
Design/methodology/approach
This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z).
Findings
Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations.
Research limitations/implications
This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged.
Practical implications
Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation.
Originality/value
To the best of the authors’ knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia.
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A. Azizon, Rahmatina Awaliah Kasri, Kenny Devita Indraswari and Wahyu Jatmiko
The recent growth of Islamic bank (IB) assets in Indonesia has been mainly driven by government interventions rather than the organic development on the demand side. A novel…
Abstract
Purpose
The recent growth of Islamic bank (IB) assets in Indonesia has been mainly driven by government interventions rather than the organic development on the demand side. A novel approach to attract new consumers, increase market share and accelerate its development is the need of the hour. This study aims to propose beyond-money framing that promotes the Shari’ah and social dimensions of IB’s products on top of its contemporary marketing strategy. This paper examines whether this technique can advance IBs selection.
Design/methodology/approach
This paper uses the (online) laboratory experiment involving 192 high- and low-literate participants from Generation Z (Gen Z). Using difference tests and Logit regression, this paper examines the impact of beyond-money framing on customers decision-making.
Findings
Beyond-money framing has a significant impact in influencing customers decisions to select profit-and-loss sharing (PLS) products offered by IBs. The effect of the framing accelerates in the high-literate customers.
Research limitations/implications
The contract examined is only the PLS one (mudharabah). Respondents are also restricted to Gen Z. This study does not separate the effect of Shari’ah and social aspects from beyond money framing.
Practical implications
To attract new customers, IBs should emphasise their products’ social and Shari’ah features rather than relying solely on a low-price strategy.
Originality/value
To the best of the authors’ knowledge, this paper is the first study proposing the framing strategy for IBs and examining its impact on IB’s product acceptance in Indonesia.
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Harris Rizki Ananda, Kenny Devita Indraswari, A. Azizon, Irfani Fithria Ummul Muzayanah, Tika Arundina and Ashintya Damayati
The market value of luxury goods at the global and national levels continues to increase from year to year. The sales growth of the Indonesian luxury goods market is currently at…
Abstract
Purpose
The market value of luxury goods at the global and national levels continues to increase from year to year. The sales growth of the Indonesian luxury goods market is currently at 6.6% per year. The largest sales sector in the market is the fashion sector, with more than US$700m per year. Several big cities in Asia, including Jakarta, experienced a shift in the age group of luxury goods buyers to a younger group with limited income resources. The behavior of purchasing luxury goods in the low-income group is contrary to Islamic values, which prioritize the fulfillment of needs rather than the fulfillment of desires. This study aims to analyze the factors that influence the intention of Muslim Generation Z consumers to buy luxury fashion products.
Design/methodology/approach
The purposive sampling method in this study involved 240 respondents who had bought luxury fashion products in the masstige category in the past two years. This study adopts the Theory of Reasoned Action (TRA) model and a quantitative approach through the structural equation modeling method.
Findings
The results of this study indicate that attitude towards behavior, subjective norms, self-esteem and materialism have a significant positive effect on the intention to consume luxury fashion, while the influence of religiosity was found to be insignificant. At the same time, religiosity has a significant negative effect on attitude towards behavior and subjective norms.
Research limitations/implications
These findings indicate that if consumers who have a positive attitude toward luxury fashion purchases, can be influenced by their significant others, self-esteem and materialistic nature, then they tend to buy luxury fashion items.
Originality/value
This study extends the theory of TRA by adding religiosity, self-esteem and materialism and it uses Muslim Generation Z as the respondent. Masstige category of luxury brands is also used to take into account the affordability of its generation toward luxury fashion products.
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Previous studies have challenged the Human Development Index’s (HDI) ability to emulate the achievement of falāh (happiness). This paper aims to evaluate the role of religious…
Abstract
Purpose
Previous studies have challenged the Human Development Index’s (HDI) ability to emulate the achievement of falāh (happiness). This paper aims to evaluate the role of religious values in establishing a positive link between the current measurement of development and falāh.
Design/methodology/approach
First, this study derives an improved value-loaded development measure from the concept of Maqasid al-Shari’ah (the higher objectives of Islamic law). Second, this paper compares the calculated Maqasid al-Shari’ah Index (MSI) with the HDI of some Organisation of Islamic Cooperation (OIC) countries by using the parametric pair difference z-test and t-test along with the non-parametric Wilcoxon signed-rank test. Finally, the relationship of both indices and the proxy of falāh are examined by using the ordinary least square and the generalised method of moments estimations.
Findings
As far as the religious-led development is concerned, the HDI underestimates OIC countries’ development progress. Here, the MSI can better embody the attainment of falāh than the HDI.
Research limitations/implications
This study only covers limited OIC countries due to the data availability issue.
Practical implications
The cultural-based development stemming from the religious values proves useful for putting the government effort towards the attainment of the objective of human well-being in the right direction.
Originality/value
To the best of the authors’ knowledge, this is the first study examining the empirical relationship between the MSI and falāh.
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Yunice Karina Tumewang, Herlina Rahmawati Dewi and Hanudin Amin
The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the…
Abstract
Purpose
The purpose of this paper is to build a relationship between the quantitative and structural indicators of maqashid sharia studies produced from bibliometric analysis and the conceptual discussion developed through a thorough review of selected key literature.
Design/methodology/approach
The study uses bibliometric analysis, collecting information drawn from 219 articles published in 68 journals during the period of 2006–2022. This study uses VOSviewer, RStudio, Microsoft Excel, and an examination of research time periods using the Scopus database to illustrate the citation analysis and keyword map. It is also strengthened by content analysis of selected studies.
Findings
The main research theme found in this study is the application of maqashid sharia in Islamic banks, with Islamic banks and Islamic finance among the most frequently used keywords. Meanwhile, the geographical spread of maqashid sharia research has reflected its universal acceptance, as it has spread across both Muslim-dominant and non-Muslim-dominant countries. Besides, maqashid sharia is found to be an extremely important subject for ensuring the ethical dimension of Islamic finance products and services, a more inclusive human development index, and contributing to the international agenda of Sustainable Development Goals. Lastly, future research is expected to broaden it into a multi-dimensional horizon, with several recommendations offered to enrich the understanding of maqashid sharia.
Practical implications
The findings of this study can be beneficial to multiple stakeholders in Islamic finance industry, including the management of Islamic banks, who can enhance the values of maqashid sharia in designing their products/services, and the regulators, who can formulate regulatory frameworks which are reflective of maqashid sharia principles.
Social implications
This study will assist future scholars in this field to formulate and design exciting research ideas and models to address the deficiencies found in the current implementation of maqashid sharia within Islamic finance industry.
Originality/value
The primary contribution of this study is to provide comprehensive review and discussion of selected significant literature on maqashid sharia and give direction for future research. In addition, this study also extends and incorporates the results of bibliometrics using the recent maqashid sharia studies published at the end of 2022.
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This study aims to analyse how cultural and religious values shape individual attitudes towards responsible consumption (RC), with a particular emphasis on contrasting Abrahamic…
Abstract
Purpose
This study aims to analyse how cultural and religious values shape individual attitudes towards responsible consumption (RC), with a particular emphasis on contrasting Abrahamic and non-Abrahamic countries. The objective was to find out how adherence to religious beliefs could drive sustainable behaviours as a sure way to achieve sustainable development goals, among them RC and production.
Design/methodology/approach
The research classifies countries into Abrahamic and non-Abrahamic based on data derived from World Values Surveys from 1980 to 2020. To find out the effect of religious and cultural values on RC behaviours, the authors use a logistic regression model by controlling the sociodemographic variables country, denomination and town size.
Findings
The findings determined that in Abrahamic countries, high adherence to religious teachings is strongly correlated with positive RC behaviours. In most non-Abrahamic countries, however, while the strength of the effect of cultural values on RC is somewhat diminished, there is potential for a positive shift insofar as the central doctrines of the respective faiths will be adopted more actively by their adherents.
Research limitations/implications
While this study provides valuable insights into the influence of cultural and religious values on RC, it is limited by its reliance on cross-sectional data, which restricts the ability to infer causality. Future research could benefit from longitudinal studies to track changes over time or experimental designs to test causality more directly. Additionally, the study’s focus on broad religious categories may overlook the nuanced differences within each religious group, suggesting a need for more detailed subgroup analyses.
Practical implications
The practical implications of such findings lie in the fact that marketers have to design campaigns that relate to the cultural and religious ethos of their target audiences. Therefore, marketing strategies locally practised bring effectiveness in running initiatives meant to be taken for sustainable consumption practices, to develop brand loyalty and to support corporate environmental and social responsibility.
Social implications
By aligning consumption practices with religious teachings, communities can foster a collective sense of purpose and ethical responsibility. This alignment not only enhances social cohesion but also supports broader social goals such as environmental sustainability and economic moderation. Moreover, by encouraging values like thrift and stewardship, societies can mitigate the adverse effects of consumerism, such as waste and environmental degradation, thus improving the quality of life and fostering a more sustainable future.
Originality/value
This paper is going to add to the existing literature by identifying how religious teachings can be pivotal for the sustainability of modern times. Its findings provide new insight for policymakers and marketers who are seeking to encourage RC in cultures.
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This two-part explanatory study aims to examine how the framing of messages influences non-Muslims who are unlikely to visit a mosque due to their self-conception, and how this…
Abstract
Purpose
This two-part explanatory study aims to examine how the framing of messages influences non-Muslims who are unlikely to visit a mosque due to their self-conception, and how this might affect their behavioural change specifically, their intention to visit. This study also tested the impact of co-existence between framed actual image, ideal image and the intention to visit.
Design/methodology/approach
Using a snowball sampling approach, the study first sampled participants without message framing (358 respondents). Using the same respondents, the second phase of the study introduced message framing, resulting in 308 participants. Structural equation modelling was conducted using STATA Version 15.
Findings
The results indicate that a framed actual self-image is a stronger predictor of changes in consumer behaviour and thus leads to the intention to visit. The introduction of co-existence provided significant insights.
Originality/value
To the best of the author’s knowledge, this is the first study to objectively test the effectiveness of a framing technique in mosque tourism and to highlight message framing as a valid marketing strategy that can enhance consumer (tourist) switching behaviour towards the intention to visit. This study adds new insights into the psychological relationships between framed actual image, framed ideal image, co-existence and intention to visit, which has implications for self-congruity theory.
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This study aims to investigate religiosity and entrepreneurial motivation roles in the goal-specific, involving Muslim students’ entrepreneurial intention and self-efficacy…
Abstract
Purpose
This study aims to investigate religiosity and entrepreneurial motivation roles in the goal-specific, involving Muslim students’ entrepreneurial intention and self-efficacy. Besides, it examines the robustness model based on group context.
Design/methodology/approach
Partial least square structural equation modelling is employed to examine 502 data collected from Muslim students in Indonesia through an online survey. Meanwhile, partial least square multigroup analysis tests the robustness model.
Findings
Religiosity plays a powerful role in increasing goal-specificity. Meanwhile, entrepreneurial motivation and self-efficacy perform as full mediations in the pathway mechanism of religiosity's effect on entrepreneurial intention.
Research limitations/implications
The current study is conducted based on the previous recommendations and contradictions. Therefore, it clarifies and develops a study on the role of religiosity and entrepreneurial motivation in the goal-specific motivation of Muslim students.
Practical implications
To increase the goal-specificity of entrepreneurship activities, policymakers in the ministry of education and universities must implement and revitalize Muslim students' understanding of the relationship between religiosity and entrepreneurship.
Originality/value
This study defines the role of religiosity in goal-specific, especially Muslim students’ entrepreneurial intentions, by gender, faculty/department and age. Furthermore, it completes the opportunity for research agendas on the relationship between religiosity, entrepreneurial motivation, self-efficacy and entrepreneurial intention.
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La Ode Alimusa, Raditya Sukmana, Ririn Tri Ratnasari, Syafrina Machfud and Sahraman D. Hadji Latif
This study aims to determine the intention of online cash waqf donations among Indonesian Muslim youth for micro enterprises (MEs) financing. Therefore, the contribution of Muslim…
Abstract
Purpose
This study aims to determine the intention of online cash waqf donations among Indonesian Muslim youth for micro enterprises (MEs) financing. Therefore, the contribution of Muslim youth in supporting MEs can be accelerated to solve some interrelated social and economic issues.
Design/methodology/approach
This study integrates the theory of planned behaviour (TPB) and the technology acceptance model (TAM) partially relevant to research characteristics. A questionnaire survey is used as a data collection approach to acquire responses from 180 Indonesian Muslim youth. The data obtained are analysed using smart partial least squares-structural equation modelling to answer the research hypothesis and obtain conclusions.
Findings
Religiosity, awareness and perceived behavioural control are significant factors determining the intention to donate online cash waqf for MEs financing. Religiosity plays an important role in building attitudes and perceived awareness of Muslim youth’s behaviour and intention to donate online cash waqf for MEs financing.
Research limitations/implications
The analysed factors could be used as guidelines for better planning and implementing digital-based cash waqf marketing strategies for Nazir (waqf institutions). Regulators (Government and National Waqf Board) must provide better regulations for digital waqf platforms and policies for cash waqf financing for MEs. Researchers could investigate the other theory and cash waqf financing model in low-risk MEs’ empowerment. This study will also broaden cash waqf literacy for MEs financing.
Originality/value
To the best of the authors’ knowledge, no previous study addressed the intention of Muslim youth in Indonesia towards online cash waqf to empower MEs. This study develops models by combining TPB and TAM with additional constructs to determine the intention to donate online cash waqf for MEs financing that have been experiencing difficulties accessing banking financing.
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Martini Dwi Pusparini, Raditya Sukmana and Rodame Monitorir Napitupulu
This study aimed at exploring to what extent social media has educated and shaped public opinion regarding cash waqf. This research comprehensively analyzed the social media…
Abstract
Purpose
This study aimed at exploring to what extent social media has educated and shaped public opinion regarding cash waqf. This research comprehensively analyzed the social media content to find the most discussed topic and highlighted the trends in cash waqf literacy.
Design/methodology/approach
Twenty-nine videos discussing cash waqf in Indonesia from the YouTube platform were analyzed using NVivo R1 with a content analysis approach.
Findings
The research findings revealed that YouTube videos addressing cash waqf were categorized into four distinct clusters: government, ulama/influencers/professionals, nadzir (waqf manager) and TV stations, with the government cluster producing a higher number of videos (n = 11) than the other clusters. The findings also highlighted the limited involvement of nadzir in educating the public about cash waqf, as evidenced by a smaller number of videos (n = 5). Among these videos, the most frequently discussed topics included the utilization of cash waqf (n = 20), promotion of cash waqf (n = 14) and risk management (n = 13). Negative sentiment (n = 262) was observed to exceed positive sentiment (n = 107).
Practical implications
The findings of this study contribute to the fundraising aspect of cash waqf because the inclusivity of digital content in cash waqf campaigns is crucial to raise awareness of the public. In addition, these findings may help waqf managers (nadzir) assess the extent of educational content about cash waqf on YouTube and the public’s response to this content.
Originality/value
To the best of the authors’ knowledge, this study is the first to analyze the social media content, particularly from YouTube platforms, and public sentiment against cash waqf.