This research aimed to explore the motives that encouraged Muslim entrepreneurs to make business decisions in running businesses, and also to examined the effects of their religions as well as the business logics they used toward their trading behaviors. The subjects of this research were the Muslim entrepreneurs running the business of apparel convection in Botoran, Tulungagung. This research used qualitative method with phenomenological approach. The data extracting technique was conducted by documentation, observation, and interviews. The results showed that Muslim traders based their business behaviors on the consideration of rational choices. Such behaviors were manifested in the forms of: choosing to partition their houses as the place of production (home factory); choosing to procure capital through the Chinese; choosing temporary sewing workers; choosing to replace the procurement of computer embroidery machines; dun-dunan rego (decreasing the costs); nembak (lighting); and reluctant to establish a cooperative to accommodate them. Meanwhile, religion, morals, and other values are not considered by them in running their business. The implication of the findings is that religious and economic motives always appeared in a person's business processes. The dominance of one of them was determined by the environment and experience. Sharia financial institutions in the vicinity, such as Sharia Banks and BMT (Baitul Mal wa Tamwil, a sharia-based microfinance institution or cooperative), as well as Islamic organizations, with the right kinship approach, were required to be present to pay attention to business development and community empowerment.
Dampak COVID-19 sangat terasa terlebih sektor ekonomi. Upaya pemerintah dalam menghadapi virus ini mulai pemberian stimulasi ekonomi hingga himbauan sosial dalam bentuk; social distancing, PSBB, larangan mudik, sampai new normal dimaksudkan agar keselamatan warga terjaga sekaligus sektor ekonomi tetap berjalan. Tulisan ini mengarahkan kajiannya pada bagaimana dampak ekonomi di Tulungagung dan langkah startegis apa yang seharusnya dilakukan. Pendekatan dalam penelitian ini adalah kualitatif berjenis library research dan bersifat inferential. Analisis data dilakukan dengan menggunakan content analysis. Literatur diambil dari berbagai sumber resmi, informasi, dan berita yang beredar secara online terkait ekonomi. Hasil penelitian menunjukkan bahwa di Tulungagung masih belum bisa digambarkan secara pasti kondisi ekonomi setelah masa pandemi. Namun, untuk mempertahankan pertumbuhan ekonominya, Tulungagung dapat mempertimbangkan dua skenario, skenario dengan PSBB dan tanpa PSBB. [The impact of COVID-19 is too felt especially in the economic sector. Government efforts in dealing with this virus began to provide economic stimulation to social appeals in the form of; social distancing, PSBB, prohibition of going home, until new normal poicy is intended so that the safety of citizens is maintained as well as the economic sector continuesly grows. This paper directs his study on how the economic impact in Tulungagung and what strategic steps should be taken. The approach in this research is qualitative research in library research type. Data analysis was performed using content analysis. The results showed that in Tulungagung still could not be described with certainty the economic conditions after the pandemic. However, to maintain economic growth, Tulungagung can consider two scenarios, a scenario with PSBB and without PSBB.]
The rating of sukuk becomes the reflection of the capital markets' activities. The better rating of sukuk, the more investor’s interested to purchase a sukuk. This study aimed at explaining the effects of leverage, liquidity, and profitability towards the rating of sukuk. The technique of data analysis employed was ordinal logistic regression. The research result revealed that the leverage and liquidity affected the sukuk. Meanwhile, the profitability did not affect the rating of sukuk. The test result simultaneously showed that the leverage variable and liquidity affected the sukuk rating. On the other hand, the result of a pseudo test of R-square showed the impact of leverage and liquidity towards sukuk rating was as big as 100%. Overall, the research result in this study supported the previous research which discovered the impacts of leverage and liquidity variables towards the rating of sukuk.
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