Improving Indonesia’s Sharia Banking Performance Through Intellectual Capital Efficiency and Sharia Compliance
DOI:
https://doi.org/10.30659/ijibe.10.1.1-25Kata Kunci:
Intellectual capital efficiency, sharia compliance, sharia banking performanceAbstrak
This research aims to analyze improving sharia banking performance, which has become the main focus for sharia banks worldwide, including PT. Bank Syariah Indonesia in Semarang and Salatiga. It examines the role of intellectual capital efficiency and sharia compliance as mediating variables in improving sharia banking performance. The research methodology uses a quantitative approach through SEM PLS data collected by surveys using questionnaires. The research respondents were employees of PT Bank Syariah Indonesia in Semarang and Salatiga, with a total of 250 employees, consisting of 145 male and 105 female employees. The sampling technique used was a census, where the entire population was directly sampled, so the number of respondents was 250. The results of the analysis show that intellectual capital efficiency and sharia compliance have a significant influence on increasing sharia banking performance at PT. Bank Syariah Indonesia in Semarang and Salatiga. Sharia compliance has also been proven to be a mediating variable influencing intellectual capital efficiency and banking performance. This research provides a deeper understanding of the relationship between intellectual capital efficiency, sharia compliance, and increasing sharia banking performance in the context of Islamic banks in Indonesia. The implications of this research can help bank management identify areas that need improvement and optimize resources to improve their overall performance. By increasing the efficiency of intellectual capital management and ensuring compliance with sharia principles, PT. Bank Syariah Indonesia in Semarang and Salatiga improved its overall performance and strengthened the trust of customers and other stakeholders.
Referensi
Abdullah, W. A. W., Percy, M., & Stewart, J. (2013). Shari’ah disclosures in Malaysian and Indonesian Islamic banks: the shari’ah governance system. Journal of Islamic Accounting and Business Research, 4 (2), 100–131. https://doi.org/10.1108/JIABR-10-2012-0063
Afandi, A., and Haryono, S. (2022). Pengaruh Islamicity Performance Index Dan Debt Equity Ratio Terhadap Profitabilitas Dengan Intellectual Capital Sebagai Variabel Moderasi Periode 2016-2020.
Albertini, E. (2021). What are The Environmental Capabilities, as Components of The Sustainable Intellectual Capital, That Matter to The Ceos of European Companies? Journal of Intellectual Capital, 22(5), 918-937. https://doi.org/10.1108/JIC-06-2020-0215.
Alfraih, M. M. (2018). The Role of Corporate Governance in Intellectual Capital Disclosure. International Journal of Ethics and Systems, 34(1). 101-121, https://doi.org/https://doi.org/10.1108/ IJOES-02-2017-0026.
Alhammadi, S., Alotaibi, K. O., & Hakam, D. F. (2022). Analysing Islamic banking ethical performance from Maqāṣid al-Sharī‘ah perspective: Evidence from Indonesia. Journal of Sustainable Finance & Investment, 12(4), 1171-1193.
Al-Musali, M. A. K., & Ismail, K. N. I. K. (2014). Intellectual capital and its effect on financial performance of banks: Evidence from Saudi Arabia. Procedia-Social and Behavioral Sciences, 164, 201-207. https://doi.org/10.1016/j.sbspro.2014.11.068
Amalia, Putri Syifa dan Desy Norma Safira. (2021).The Influence Of Intellectual Capital And Sharia Compliance on Islamic Banks Financial Performance in Southeast Asia. Jurnal Ilmiah Akuntansi FE UNIBBA, 12(3), 129-142.
Amaroh, S., & Masturin, M. (2018). The Determinants of Maqasid Shariah Based Performance of Islamic Banks in Indonesia. Iqtishadia, 11(2), 354–370. https://doi.org/10.21043/iqtishadia.v11i2.3961
Aslam, E., and R. Haron. (2020). The Influence of Corporate Governance on Intellectual Capital Efficiency: Evidence From Islamic Banks of OIC Countries. Asian Journal of Accounting Research, 5(2), 195-208. https://doi.org/10.1108/AJAR-05-2020-0030.
Azzahra, K. (2020). THE INFLUENCE OF INTELLECTUAL CAPITAL AND SHARIA COMPLIANCE TO THE BANKING FINANCIAL PERFORMANCE IN INDONESIA. JARES (Journal of Academic Research and Sciences), 5(1), 14-26. https://doi.org/10.35457/jares.v5i1.900
Bayraktaroglu, A. E., F. Calisir, and M. Baskak. (2019). Intellectual Capital and Firm Performance : An Extended VAIC Model. Journal of Intellectual Capital, 20(3), 406-425. https://doi.org/10.1108/JIC-12-2017-0184.
Chang, C. H., and Y. S. (Chen). 2012. The determinants of Green Intellectual Capital. Management Decision, 50(1), 74-94, https://doi.org/10.1108/00251741211194886.
Desiana, L., Alfaridzie, M. R. R., & Akbar, D. A. (2021). Corporate Governance and Shariah Compliance with Fraud Financial Statements at Sharia Commercial Banks. Journal of Accounting Science, 5(2), 176-193. https://doi.org/10.21070/jas.v5i2.1342
Dewanata, P., Hamidah, H., & Ahmad, G. N. (2016). The effect of intellectual capital and islamicity performance index to the performance of islamic bank in Indonesia 2010-2014 periods. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 7(2), 259–278. https://doi.org/10.21009/jrmsi.007.2.04
Djuwita, D., Setiowati, N. E., and Kulsum, U. (2019). The Influence of Sharia Compliance and Islamic Corporate Governance on Financial Performance of Sharia Commercial Bank. Al-Amwal: Jurnal Ekonomi Dan Perbankan Syari’ah, 11(2), 205–220. https://doi.org/10.24235/amwal.v11i2.4072
Djuwita, Diana dkk. (2019). The Influence of Sharia Compliance and Islamic Corporate Governance on Financial Performance of Sharia Commercial Bank. Al - Amwal: Jurnal Ekonomi dan Perbankan Syari’ah, 11(2), 205-220.
Dzenopoljac, V., Yaacoub, C., Elkanj, N., & Bontis, N. (2017). Impact of intellectual capital on corporate performance: evidence from the Arab region. Journal of Intellectual Capital, 18(4), 884-903. https://doi.org/10.1108/jic-01-2017-0014
Fadhistri, K. A., & Triyanto, D. N. (2019). Pengaruh Islamic Corporate Governance Dan Sharia Compliance Terhadap Indikasi Terjadinya Fraud Pada Bank Umum Syariah Di Indonesia (studi Empiris Pada Bank Umum Syariah Periode 2014-2017). EProceedings of Management, 6(2).
Fahlevi, H., Irsyadillah & Randa, P. (2017). Financial performance and sharia compliance: A comparative analysis of Indonesian and Malaysian Islamic banks. DLSU Business and Economics Review, 26(2), 41-52.
Farahani, S., P. Abdarzadeh, and B. Fotovat. (2016). The Effect of Intellectual Capital on Organizational Innovation Mediated by Knowledge Management and Organizational Learning in Print Media. Organizational Resources Management Researchs, 6(1), 23-48.
Gangi, F., D. Salerno, A. Meles, and L. M. Daniele . (2019). Do Corporate Social Responsibility and Corporate Governance Influence Intellectual Capital Efficiency ? Sustainability, 11(7), 1899. https://doi.org/10.3390/su11071899.
Hachicha, N., & Ben Amar, A. (2015). Does Islamic bank financing contribute to economic growth? The Malaysian case. International Journal of Islamic and Middle Eastern Finance and Management, 8(3), 349– 368. https://doi.org/10.1108/IMEFM-07-2014-0063
Hafiez Sofyan, Ihyaul Ulum, Daniel Syam, Sri Wahjuni L, (2012). Islamic social reporting index sebagai model pengukuran kinerja sosial perbankan syariah (studi komparasi Indonesia dan Malaysia). Jurnal Dinamika Akuntansi, 4(1), 36–46. https://doi.org/10.15294/jda.v4i1.1958
Hasan, Z. (2020). How Important are Human Resources in Supporting Sharia Banking Performance in Indonesia? INFERENSI: Jurnal Penelitian Sosial Keagamaan, 14(2), 181–200. https://doi.org/10.18326/infsl3. v14i2.181-200
Karyani, Etikah and Perdiansyah, Muhamad Resa (2022) "ESG AND INTELLECTUAL CAPITAL EFFICIENCY: EVIDENCE FROM ASEAN EMERGING MARKETS," Jurnal Akuntansi dan Keuangan Indonesia: Vol. 19: Iss. 2, Article 2.DOI: 10.21002/jaki.2022.08
Maghfuriyah, A., Azama, S. M. F., & Shukri, S. (2019). Market structure and Islamic banking performance in Indonesia: An error correction model. Management Science Letters, 9, 1407–1418.
Makki, M. A. M., & Lodhi, S. A. (2014). Impact of Corporate Governance on Intellectual Capital Efficiency and Financial Performance. Pakistan Journal of Commerce & Social Sciences, 8(2), 305- 330.
Makki, M. A. M., and S. A. Lodhi. (2014). Impact of Corporate Governance on Intellectual Capital Efficiency and Financial Performance. Pakistan Journal of Commerce and Social Sciences (PJCSS), 8(2), 305–330. http://hdl.handle.net/10419/188140.
Meles, A., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2016). The impact of intellectual capital on bank performance: Evidence from four European countries. Journal of Intellectual Capital
Mifrahi, M. N., & Fakhrunnas, F. (2018). Islamic Bank peformance based on Maqasid Based Performance Evaluation Model (MPEM). Jurnal Ekonomi & Keuangan Islam, 4(2), 93–103. https://doi.org/10.20885/jeki.vol4.iss2.art6
Mubarik, M. S., and Bontis, N. (2021). Intellectual capital, leadership and competitive advantage: a study of the Malaysian electrical and electronics industry. International Journal of Learning and Intellectual Capital, 1(1), 1. https://doi.org/10.1504/ijlic.2021.10042966
Muhammad, R., Kusumadewi, R., & Saleh, S. (2019). Analisis Pengaruh Syari’ah Compliance dan Islamic Corporate Governance terhadap Tindakan Fraud (Studi Empirik pada BUS di Indonesia Periode 2013-2017). IQTISHADIA: Jurnal Ekonomi & Perbankan Syariah, 6(1), 65. https://doi.org/10.19105/iqtishadia.v6i1.2202
Mulazid, A.S. (2016), “Pelaksanaan Sharia compliance Pada bank Syariah (Studi Kasus pada bank Syariah Mandiri, Jakarta)”, Madania: Jurnal Kajian Keislaman, Vol. 20 No. 1, pp. 37-54
Mutia, E., Jannah, R., & Rahmawaty, R. (2019). Islamicity Performance Index of Islamic Banking in Indonesia. Proceedings of the 1st Aceh Global Conference (AGC 2018), 424–436. https://doi.org/10.2991/agc-18.2019.65
Nawaz, T., Haniffa, R., & Hudaib, M. (2020). On intellectual capital efficiency and shariah governance in Islamic banking business model. International Journal of Finance and Economics, 1–18. https://doi.org/10.1002/ijfe.1986
Nimtrakoon, S. (2015). The relationship between intellectual capital, firms’ market value and financial performance: Empirical evidence from the ASEAN. Journal of Intellectual Capital, 16(3). https://doi.org/10.1108/JIC-09-2014-0104
Nomran, N. M., Haron, R., & Hassan, R. (2018). Shari’ah supervisory board characteristics effects on Islamic banks’ performance: evidence from Malaysia. International Journal of Bank Marketing, 36 (2), 290–304. https://doi.org/10.1108/IJBM-12-2016-0197
Nurullaily, S. (2016). Analysis of Influence Financial Ratios on Sharia Banking Performance in Indonesia (Empirical Study at Bank Muamalat Indonesia, Bank Syariah Mandiri, and Bank Mega Syariah). Global Review of Islamic Economics and Business, 4(2), 135.
Omar Mohammed, M., & Md Taib, F. (2015). Developing Islamic Banking Performance Measures Based on Maqasid Al-Shari’Ah Framework: Cases of 24 Selected Banks. In Journal of Islamic Monetary Economics and Finance (Vol. 1, Issue 1, pp. 55–77). https://doi.org/10.21098/jimf.v1i1.483
Ousama, A. A., & Fatima, A. H. (2015). Intellectual capital and financial performance of Islamic banks. International Journal of Learning and Intellectual Capital, 12(1). https://doi.org/10.1504/IJLIC.2015.067822
Rahayu, D. Y., Kurniati, T., and Wahyuni, S. (2020). Analisa Pengaruh Intellectual Capital, Islamicity Performance Index dan Corporate Social Responsibility Terhadap Profitabilitas Bank Umum Syariah 2014-2018. Kompartemen: Jurnal Ilmiah Akuntansi, 18(2), 85–98.https://doi.org/10.30595/kompartemen.v18i2.7688
Rahman, A. A., & Bukair, A. A. (2013). The influence of the shariah supervision board on corporate social responsibility disclosure by Islamic banks of gulf co-operation council countries. Asian Journal of Business and Accounting, 6 (2), 65-104.
Reboredo, J. C., and S. M. A Sowaity. (2022). Environmental, Social, and Governance Information Disclosure and Intellectual Capital Efficiency in Jordanian Listed Firms. Sustainability, 14(1), 115. https://doi.org/10.3390/su14010115.
Rosińska-Bukowska, M. (2019). Human Capital and Intellectual Capital in Modern International Business - Based on Studies of the Strategies of Transnational Corporations. Comparative Economic Research. https://doi.org/10.2478/cer-2019-0017
Said, S., Sofyan, A. S., & Amiruddin, A. M. A. (2019). Mashlaha in Financing Risk Measurement in Sharia Financing Institutions. Iqtishadia, 12(2), 240. https://doi.org/10.21043/iqtishadia.v12i2.4992
Shahzad, F., M. H. Baig, I. U. Rehman, A. Saeed, and G. A. Asim. (2021). Does Intellectual Capital Efficiency Explain Corporate Social Responsibility Engagement-Firm Performance Relationship? Evidence From Environmental, Social and Governance Performance of US Listed Firms. Borsa Istanbul Review, 22(2), 295-305. https://doi.org/10.1016/j.bir.2021.05.003.
Sobari, N., Usman, H. and Wathani, M.Z. (2017), “The influence of Sharia compliance and marketing mix on satisfaction and intention of Muslim tourist to revisit Sharia hotel”, Advances in Economics, Business and Management Research, volume 36. 645-656. 11th International Conference on Business and Management Research (ICBMR 2017)
Sumarno, S., Nawawi, R., & Saeki, J. (2021). Pengaruh Pengetahuan Masyarakat Tentang Perbankan Syariah Terhadap Minat Untuk Memilih Produk Bank Syariah. Ecobankers : Journal of Economy and Banking, 2(2), 75. https://doi.org/10.47453/ecobankers.v2i2.445
Thiagarajan, A., Baul, U., & Sekkizhar, J. (2018). The impact of intellectual capital efficiency on financial performance in the Indian Auto - Component industry. Indian Journal of Finance, 12(3). https://doi.org/10.17010/ijf/2018/v12i3/121995
Ullah, H. (2014). Shari’ah compliance in Islamic banking: an empirical study on selected Islamic banks in Bangladesh. International Journal of Islamic and Middle Eastern Finance and Management, 7 (2), 182–199. https://doi.org/10.1108/IMEFM-06-2012-0051
Ulum, I. (2013). Model Pengukuran Kinerja Intellectual Capital Dengan Ib-Vaic Di Perbankan Syariah. INFERENSI. https://doi.org/10.18326/infsl3.v7i1.185-206
Usman, H., Sobari, N. and Wathani, M.Z. (2017a), “The role of Sharia compliance in the relationship between the marketing mix, satisfaction and loyalty in the Sharia hotel”, Proceedings of the 4th International Conference on Finance and Economics- ICFE 2017: 587-604. Ton Duc Thang University, Ho Chi Minh City, Vietnam.
Yuniasary, M., and Nurdin. (2019). Pengaruh Sharia Compliance dan Islamic Corporate Governance terhadap Kinerja Keuangan Bank Umum Syariah di Indonesia (Studi kasus pada perbankan syariah di Indonesia 2013 - 2017). Manajemen, 5, 1004–1009.
Zirman, Basri, Y. M., & Fitriasari, R. (2019). Shariah Governance and its Implication on Shariah Bank Performance. International Journal of Scientific & Technology Research, 8(10), 3744-3757.
Zulfikar. (2020). Challenges of Islamic Banking in Indonesia in Developing Products. The Journal of Management Theory and Practice (JMTP), 1(3), 35–42. https://doi.org/10.37231/jmtp.2020.1.3.55
Unduhan
Diterbitkan
Terbitan
Bagian
Lisensi
License and Copyright AgreementIn submitting the manuscript to the journal, the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere,
- That its publication has been approved by all the author(s) and by the responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and copyright agreement.
Authors who publish with IJIBE agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
- Open Data Commons Attribution License, http://www.opendatacommons.org/licenses/by/1.0/ (default)
- Creative Commons CC-Zero Waiver, http://creativecommons.org/publicdomain/zero/1.0/
- Open Data Commons Public Domain Dedication and Licence, http://www.opendatacommons.org/licenses/pddl/1-0/
Open Data and Software Publishing and Sharing
The journal strives to maximize the replicability of the research published in it. Authors are thus required to share all data, code or protocols underlying the research reported in their articles. Exceptions are permitted but have to be justified in a written public statement accompanying the article.
Datasets and software should be deposited and permanently archived inappropriate, trusted, general, or domain-specific repositories (please consult http://service.re3data.org and/or software repositories such as GitHub, GitLab, Bioinformatics.org, or equivalent). The associated persistent identifiers (e.g. DOI, or others) of the dataset(s) must be included in the data or software resources section of the article. Reference(s) to datasets and software should also be included in the reference list of the article with DOIs (where available). Where no domain-specific data repository exists, authors should deposit their datasets in a general repository such as ZENODO, Dryad, Dataverse, or others.
Small data may also be published as data files or packages supplementary to a research article, however, the authors should prefer in all cases a deposition in data repositories.
This work is licensed under a Creative Commons Attribution 4.0 International License.
