scholarly journals THE IMPACT OF ZAKAT ON MONEY DEMAND FUNCTION: EVIDENCE FROM MUZAKKI IN INDONESIA

2021 ◽  
Vol 7 (2) ◽  
pp. 308
Author(s):  
Atika Rukminastiti Masrifah ◽  
Fajrin Intan Safitri
Keyword(s):  
Money Demand ◽  
Low Income ◽  
Structural Equation ◽  
Reliability And Validity ◽  
State Regulation ◽  
Demand Model ◽  
Demand For Money ◽  
Demand Functions ◽  
Goods And Services ◽  
The Impact

Most research in the Islamic economy on the money demand have employed the Keynesian approach, while in this research money demand functions are derived from a microeconomic approach. Thus, the aim of this study is to test and analyze some of the key factors in Islamic money demand model with the microeconomics-based approach, and then, in accordance with Islamic principles, chooses muzakki as the best sample. The data source for this study is 200 muzakki in Java, with a period of 2020. Structural Equation Modelling (SEM) is adopted to examine the relationship between the seven constructs, i.e., zakat, PLS rate, state, regulation, goods and services, conspicuous consumption, and money demand. The systemic relationship between the structures indicates that the integrated model of demand for money has a strong zakat relationship, while reliability and validity have been established. Zakat plays a key role in applying the established paradigm of demand for money in relation to goods and services. Zakat significantly affects both goods and services as well as models of money demand. This proposed new model equation is intended to help each household economic actor increase the demand for philanthropic money. As many muzakki are spread throughout Indonesia, it is expected that the welfare of the poor and the low-income society will gradually improve and, finally, the distribution of income in Indonesia will be on an equal footing. 

scholarly journals Mainstreaming Zakat Instrument to Money Demand Function

2020 ◽  
pp. 61-74
Author(s):  
Fajrin Intan Safitri ◽  
Atika Rukminastiti Masrifah
Keyword(s):  
Money Demand ◽  
Structural Equation ◽  
Social Values ◽  
Reliability And Validity ◽  
Strong Relationship ◽  
State Regulation ◽  
Social Value ◽  
Demand Model ◽  
Goods And Services ◽  
Islamic Economic

In the Islamic economic structure, zakat has been introduced as the main instrument. In the development of the Islamic monetary policy in particular with regard to the amount of money, zakat becomes necessary to investigate its impact. The study focuses in Java, using 200 Muzakki. Structural Equation Modelling (SEM) is adopted to examine the relationship among the seven constructs i.e., Social Values, The Rate of PLS, State, Regulation, Goods and Services, Consumption and Money Demand. While the reliability and validity were established, the structural relationship between the constructs reveals that the integrated money demand model has a strong relationship with the social value in many ways. In relation with goods and services, social value has its significant role to assist the amount of consumption to realize developed money demand model. Islamic social values significantly influence each of good and services as well as money demand model. People will increase the motive for holding money if he wishes to donate some for social purposes. In general, if the people are prosperous, the money demand will increase. Specifically, the result shows several constructs have significant impact in promoting money demand model in Islamic perspective. This suggests that the model as well as the instrument should be further implemented in Islamic money demand.

scholarly journals Optimal Combination of Currency Assets and Algorithm Simulation under Exchange Rate Risk

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-10
Author(s):  
Jun Wei
Keyword(s):  
Money Demand ◽  
Dynamic Equilibrium ◽  
Money Market ◽  
Demand Model ◽  
Demand For Money ◽  
Virtual Economy ◽  
The Interest Rate ◽  
Economic Assets ◽  
Social Wealth ◽  
The Impact

The excess money supply did not lead to a rapid rise in the price index, which in turn triggered inflation. In this case, the redetermination of the demand for money is particularly important. At the same time, with the continuous expansion of the capital market and the rapid development of the virtual economy, the virtual economy is gradually deviating from the real economy. When selecting assets, microentities often incorporate virtual economic assets into investment considerations. Therefore, it is necessary to establish a money demand model that considers the impact of virtual economic assets. This paper uses the asset selection of microentities as the microfoundation to establish a money demand model to explain its economic significance. And based on the money demand model established, a dynamic equilibrium model of the money market was established, and the stability of the dynamic equilibrium point of the money market was verified through mathematical deduction. Based on the dynamic equilibrium model of the money market, the impact of money supply was analyzed. In order to verify the correctness of the aforementioned theory, this paper conducts an empirical analysis. Through cointegration analysis and the vector error correction model (VECM model), the correctness and applicability of the established money demand model are verified, and money demand, total social wealth, spreads between expected stock returns and interest rates, and real estate expectations are found. There is a long-term equilibrium relationship between the rate of return and the interest rate. The total amount of social wealth, the expected rate of return on stocks, and the interest rate spread will have an impact on the demand for money in the short term.

Mediating Effect of Organizational Commitment Between Islamic Human Resource Practices and Organizational Performance Among Islamic Banks of Bangladesh

2018 ◽  
Vol 15 (2) ◽  
pp. 54-65
Author(s):  
Bablu Kumar Dhar ◽  
Rosnia Masruki ◽  
Mahazan Mutalib ◽  
Hatem Mohammed Rahouma ◽  
Farid A. Sobhani ◽  
...  
Keyword(s):  
Organizational Commitment ◽  
Organizational Performance ◽  
Human Resource ◽  
Structural Equation ◽  
Stock Exchange ◽  
Reliability And Validity ◽  
Mediating Effect ◽  
Islamic Banks ◽  
Hr Practices ◽  
The Impact

This paper aims at exploring the impact of Islamic human resource (HR) practices on organizational performance though organizational commitment. Data were collected from randomly selected 170 branch managers of six Islamic Banks listed on Dhaka Stock Exchange of Bangladesh. After collecting data, descriptive analysis and structural equation model were done to examine reliability and validity of the model. By analysis, the study finds that Islamic HR practices have more significant impact on organizational performance though organizational commitment rather than the direct effect of Islamic HR practices to organizational performance. The findings of the study advocate that Islamic banks should emphasize more on Islamic HR practices and organizational commitment to uphold their organizational performance.

The Impact of Service Satisfaction, Relational Satisfaction and Commitment on Customer Loyalty in Logistics Outsourcing Relationship

2015 ◽  
Vol 4 (1and2) ◽  
Author(s):  
Sanjit Singh H.
Keyword(s):  
Customer Loyalty ◽  
Structural Equation ◽  
Structural Model ◽  
Reliability And Validity ◽  
Service Satisfaction ◽  
Equation Modeling ◽  
Relational Satisfaction ◽  
Logistics Outsourcing ◽  
Major Predictor ◽  
The Impact

This research explores the impact of service satisfaction, relational satisfaction, price satisfaction, and commitment on customer loyalty in logistics outsourcing relationships in Indian scenario. 254 users of logistics services from India were selected for investigating the potential linkages among the aforementioned satisfaction aspects and loyalty. Structural equation modeling (SEM) was employed to test the reliability and validity of the measurement and structural model developed to study the relationship among the linkages. Findings from the study supports that logistics service satisfaction, price satisfaction, relational satisfaction and commitment do influence loyalty positively. The analysis suggests that service satisfaction is the most important antecedent having primary influence in the formation of customer loyalty. Service satisfaction also has secondary influence on loyalty by acting as a strong driver in both relational satisfaction and commitment aspects of the service dimensions. Price satisfaction though positively been driven by service satisfaction, was found to have less significant effect as a predictor of loyalty in this context. The present study suggests that relational satisfaction is the second major predictor of loyalty which also drives commitment. This research is not an end-point but an attempt to establish the linkages and the effect among the antecedents driving the building and retention of good buyer-seller relationship in logistics outsourcing.

scholarly journals Senior Consumer Motivations and Perceived Value of Robot Service Restaurants in Korea

2021 ◽  
Vol 13 (5) ◽  
pp. 2755
Author(s):  
Min-Kyu Kwak ◽  
JeungSun Lee ◽  
Seong-Soo Cha
Keyword(s):  
South Korea ◽  
Low Income ◽  
Structural Equation ◽  
Perceived Value ◽  
Reliability And Validity ◽  
Equation Modeling ◽  
Consumer Innovativeness ◽  
Face To Face ◽  
Perceived Values ◽  
Level Group

This research empirically tested a theoretical model by defining senior customers’ intentions to use robot service restaurants emerging in South Korea. Non-face-to-face services have become increasingly important for seniors. Therefore, restaurant marketers should cater to senior customers’ needs by sustaining robot service restaurants. The study analyzed 243 questionnaires to verify the reliability and validity of the measurement items. The research hypotheses were examined using structural equation modeling (SEM). The suggested model comprised three stages: motivated consumer innovativeness (MCI), perceived value, and planned behavior (attitude, intention to use). The results revealed that senior customers’ perceived values positively influenced attitude and were enhanced by hedonically MCI (hMCI) and socially MCI. Moreover, the hedonic and social elements of motivation improved the attitude and usage intentions of robot service restaurants for senior customers. However, these relationships differed in terms of the income level of the customer groups. For the low-income senior-level group, hMCI was more influential on the perceived value. This study is meaningful because it analyzes the effect of MCI of seniors on the perceived value of robot service restaurants, which are growing rapidly in South Korea. It has empirically proved the moderating effect of different income groups, providing practical implications.

Referencing in the Virtual World

2015 ◽  
Vol 4 (2) ◽  
pp. 12-29
Author(s):  
G. K. Deshmukh ◽  
Sanskrity Joseph
Keyword(s):  
Social Media ◽  
Virtual World ◽  
Structural Equation ◽  
Reference Group ◽  
Equation Modeling ◽  
Buying Behavior ◽  
Goods And Services ◽  
Negative Comments ◽  
Definition Of ◽  
The Impact

The fact that ‘Man is a social being' is seen and felt in real as well as in virtual world. The paper discusses the advent of concept of social customer. All customers who use social media to share their experience through their positive or negative comments related with goods and services used as well as those who browse social media for getting reference to arrive at a decision to buy or choose are social customers. In the above backdrop the researchers have tried to highlight following issues: (i) definition of Social Customers, (ii) impact of Social media as a reference group on social customer. The researchers have conducted an empirical study and analyzed the data through Structural equation modeling and provided guidelines to marketers on the impact of social media in general and e-WOM in particular on buying behavior of social customers.

Impact of environmental belief and nature-based destination image on ecotourism attitude

2020 ◽  
Vol 3 (4) ◽  
pp. 489-505
Author(s):  
Chi Nguyen Thi Khanh ◽  
Le Thai Phong
Keyword(s):  
Convergent Validity ◽  
Structural Equation ◽  
Discriminant Validity ◽  
Time Perspective ◽  
Reliability And Validity ◽  
Destination Image ◽  
Equation Modeling ◽  
Content Type ◽  
Positive Effects ◽  
The Impact

PurposeThis study examines the direct and indirect impact of environmental belief, nature-based destination image and time perspective on tourist attitude towards ecotourism.Design/methodology/approachData was collected through a structured questionnaire survey conducted in Vietnam. The dataset consists of 479 valid responses by Vietnamese tourists. Correlation analysis and structural equation modeling (SEM) were used to test the causal relationships among time perspective, environmental belief, nature-based destination and ecotourism attitude. Confirmatory factor analysis (CFA) is conducted to verify the reliability and validity of each latent construct, and to evaluate the discriminant validity, convergent validity, composition reliability and average variance extracted (AVE) for the latent constructs.FindingsThis study finds statistically significant and positive effects of time perspective, environmental belief and nature-based destination image on ecotourism attitude. The results also indicate that environmental belief is found to have statistically significant effects both direct and indirect on ecotourism attitude; its indirect effect is transmitted through nature-based destination image. Our findings demonstrate empirically that tourists are mainly attracted by natural environment sites and that tourists having environmental beliefs are likely to engage in ecotourism than other types of tourism by first influencing their attitude.Research limitations/implicationsOne limitation is associated with our measurement method, which relies on respondents’ self-ratings of their activities. Second, our study is based on internal consistency assessments for establishing construct reliability and validity, which might be the problem of measurement misspecification in tourism research and hinder us to adequately capture the dynamic nature of the variables and the underlying relationships. Third, the survey is conducted in one specific ecotourism nation like Vietnam, and thus, the findings must also be explained in this case.Practical implicationsPolicymakers need to pay careful attention to the planning and conservation of local resources, as well as infrastructure, for ecotourism development. Moreover, the management of eco-site needs to maintain ecology properly, provide an authentic ecotourism experience to improve ecotourism destination. Otherwise, ecotourism operators should focus on marketing strategies to increase traditional and natural values and promote eco-friendly social standards for fostering demand.Originality/valueThis study examines an integrated model analyzing the impact of time perspective, environmental belief and nature-based destination on tourist attitude towards ecotourism. This study reveals the understanding of how individuals’ view towards belief in environment and location image, influences their attitude to engage in ecotourism. The study provides several implications for practice.

scholarly journals Exchange Rate and Demand for Money in Nigeria

2015 ◽  
Vol 7 (2) ◽  
pp. 21
Author(s):  
BigBen Chukwuma Ogbonna
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Foreign Exchange ◽  
Money Demand ◽  
Black Market ◽  
Easy Access ◽  
Market Exchange ◽  
Demand Model ◽  
Demand For Money ◽  
Official Exchange Rate

<p>This study is designed to examine empirically the impact of exchange rate on the stability of demand for money in Nigeria where official and black market exchange rates operate side by side due to exchange controls. Variants of money demand model are estimated using monthly data for the period of 2005-2013. Cointegration and system equation techniques combined with CUSUM and CUSUMSQ tests are employed in the data analysis. Results indicate that in all the variants of the money demand model, coefficients of exchange rates variable (official or black market exchange rates) manifest significant <em>t</em> statistics, meaning that the null hypothesis of restricting the coefficients of exchange rates in money demand model in Nigeria is rejected for each variant. This suggests that coefficient of exchange rates variable (OMEXR or BMEXR) belongs to the cointegrating space in all the instances. Judging from the freakiness of the coefficients of the variants of the money demand function and the results of the tests for stability of the models combined, the most appropriate  demand for money function for Nigeria appear to be the one that includes M1, the interest rate, inflation rate, and official exchange rate. This implies that in Nigeria, a greater percentage of the foreign exchange demand may be public sector driven and substantial percentage of the private sector foreign exchange needs is sourced from the official exchange rate market due to the substantial disparity between the two rates. This may mean consumers’ easy access to official exchange rate and transparency in the operation of official exchange rate market in Nigeria.</p>

scholarly journals Identifying the Impact of Strategic Alliances on the Performance of SMEs (Case Study: The Industry of Automotive Parts Manufacturers in Iran)

2017 ◽  
Vol 10 (6) ◽  
pp. 227 ◽  
Author(s):  
Kambiez Talebi ◽  
Jahangir Yadollahi Farsi ◽  
Hamideh Miriasl
Keyword(s):  
Strategic Alliances ◽  
Structural Equation ◽  
Structural Model ◽  
Reliability And Validity ◽  
Measurement Model ◽  
Equation Modeling ◽  
Innovative Capabilities ◽  
Automotive Parts ◽  
Technical Features ◽  
The Impact

This study has investigated the effects of strategic alliances on the performance of small and medium sized enterprises (SMEs) of the industry of automotive parts manufacturers. Questionnaires have been distributed among 400 senior managers of SMEs of the industry of auto parts manufacturers based on stratified random sampling. The data has been analyzed using structural equation modeling software and PLS2 software in two segments of measurement model and structural model. In the first segment, technical features of the questionnaire were tested in terms of reliability and validity. Moreover, in the second segment, t-test was used to test research hypotheses. The results show that there is a significant and positive relationship between the dimensions of strategic alliances, including new opportunities, entrepreneurial and innovative capabilities, social capital, and internationalization of business, and competitive advantage with the performance of SMEs.

scholarly journals Socially acceptable consumer budget in the Arctic regions of Russia

POPULATION ◽  
2020 ◽  
Vol 23 (1) ◽  
pp. 28-38
Author(s):  
Elena G. Zlenko
Keyword(s):  
Low Income ◽  
Social Needs ◽  
The Arctic ◽  
Scientific School ◽  
Goods And Services ◽  
Arctic Regions ◽  
Subsistence Minimum ◽  
The Social ◽  
Methodological Principles ◽  
The Impact

The need for accelerated social and economic development of the Arctic as a priority geostrategic territory of the Russian Federation requires a special approach to the issues of incomes of the population of the Arctic regions, and, above all, to the social criterion. Foreign experience in formation of minimum consumer budgets, domestic developments in this area and methodological principles of its formation used for a living wage have determined the priorities in choosing a social criterion. The key role in addressing this issue is played by the system of low-income consumer budgets (the subsistence minimum (SM) and the socially acceptable (recovery) consumer budget, which exceeds the subsistence minimum by about 3 times) within the framework of the general classification of the system of normative consumer budgets developed by the scientific school of the All-Russian Center for Living Standards. The methodological basis for formation of a socially acceptable consumer budget is determined by the provisions based on the recovery level of population consumption in conjunction with low incomes and taking into account the satisfaction of material, spiritual and social needs, a variety of consumer properties and benefits, as well as the impact on the consumption characteristics of the natural, climatic, economic, social and other special factors of the Arctic. Important for the social criterion qualities — validity and transparency — are ensured through application of the normative method of forming a socially acceptable consumer basket, which includes sets of food products, non-food goods and services. The normative socially acceptable consumer budget is differentiated by the specific of consumption of different categories of the population that is reflected in the structure and volume of consumption. The size of the socially acceptable consumer budget is determined by the cost of the consumer basket, as well as expenses on savings and mandatory payments and fees. Regional differences in the factors influencing the formation of a socially acceptable consumer budget cause territorial diversity in the level of the indicator in the Arctic zone.

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