nep-isf New Economics Papers
on Islamic Finance
Issue of 2019‒10‒28
three papers chosen by

  1. Movements of Islamic Stock Indices in Selected OIC Countries By Nurrachmi, Rininta
  2. The Potential Industry of Islamic Tourism in ASEAN Countries By Nurrachmi, Rininta

  1. By: Nurrachmi, Rininta
    Abstract: This study reviews the movement of Islamic stock indices in selected countries in the Organization of Islamic Cooperation (OIC) with high number of muslim population namely Indonesia, Malaysia, Turkey, Qatar, Bahrain, and Oman. The objectives are to examine the changes in cross market linkage among six selected OIC countries during crisis and after 2007 crisis and to analyze whether the international investor can gain benefit when allocating their funds across these markets. The set of relationship for each pair of Islamic stock index is analyzed using Engel-Granger (1987) and Autoregressive Distribution Lagged (ARDL) bound testing approach. The analysis is made for the sub period during crisis is 3 September 2007 – 11 January 2010 and post crisis is 18 January 2010 – 30 April 2013. The result depicts that there are evidences of cointegration among the Islamic stock markets after crisis but not during crisis. The long-run relationship indicates that investors can gain portfolio diversification benefit across these six countries
    Keywords: Financial crisis, Islamic finance, Islamic stock index, market integration, OIC countries
    JEL: C1 C3 C32 C5 Z0
    Date: 2018
  2. By: Nurrachmi, Rininta
    Abstract: ASEAN countries are rich with natural resources and historical heritage. The high number of Muslim populations in ASEAN countries can be a potential revenue to promote Islamic tourism. This study aimed to examine the potential industry of Islamic tourism as an alternative revenue and it seeks to investigate the effective and efficient way in promoting Islamic tourism in ASEAN. There are many factors that promote Islamic tourism in ASEAN countries. Push and pull factors influence Muslim tourists is deciding which place they want to visit. Collaboration and coordination among ASEAN countries can enhance Islamic tourism in developing Islamic tourism which can provide economic benefit to enhance the countries’ revenue.
    Keywords: Islamic tourism, muslim, southeast countries
    JEL: E2 E24 O1 O11
    Date: 2019–10
  3. By: Lilis Sulastri (Faculty of Social and Political Sciences, UIN Sunan Gunung Djati Bandung)
    Abstract: Islamic work ethics is a concept of ethics that is based on Islamic teaching and principle which rely on faith. Islamic ethics is a principle of right and wrong which designate to demonstrate what human ought to do taught Quran and shown in the great life of the Prophet Muhammad. This study investigated the influence of Islamic work ethic on intrinsic motivation, organizational culture and job performance in Islamic College in Indonesia. This study used a quantitative model, and it uses a sample of 150 employees of Islamic University in Bandung, Indonesia. Empirical results show that the Islamic work ethic greater effect on intrinsic motivation and organizational culture than their effects on job performance. Furthermore, empirical results suggest intrinsic motivation moderates the relationship of the Islamic work ethic on performance, and organizational culture moderates the relationship of the Islamic work ethic on performance.
    Keywords: Islamic college; Islamic work ethic; Intrinsic motivation; Organizational culture; Performance
    JEL: F15 O52
    Date: 2019–10

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NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.