EVALUATING INDONESIAN ISLAMIC BANKING SCHOLARLY PUBLICATIONS: A DATA ANALYTICS
DOI:
https://doi.org/10.21098/jimf.v8i3.1560Keywords:
Bibliometrics, Data analytics, Islamic bank, Indonesia.Abstract
This study employs bibliometric analysis to evaluate 443 scholarly works on the topics of Indonesian Islamic banking published on 194 academic platforms, and authored by 1049 scholars. The machine learning tools i.e., R Studio and VOSviewer were employed to analyse the Scopus’ bibliographical data automatically harvested from the database. We developed four research questions based on the theories that are fundamental to bibliometric study, i.e., performance analysis, citation and co-citation analyses, bibliographic coupling and social network analysis, to identify the most impactful manuscripts, scholarly journals, authors, and institutions of affiliation. We further established the discussion of the current issues in Indonesian Islamic banking topics from the keyword analysis and the bibliographic coupling. These findings derive some recommendations for future research. This study provides a supply of scholarly novelty in the assessment of Indonesian Islamic banking publications which are both practically and theoretically importance to regulators, academia and industry professionals.
Acknowledgment
The authors would like to thank Bank Indonesia for the funding that made this study possible.
References
Abduh, M., & Azmi Omar, M. (2012). Islamic banking and economic growth: The Indonesian experience. International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35–47.
Abedifar, P., Molyneux, P., & Tarazi, A. (2013). Risk in islamic banking. Review of Finance, 17(6), 2035–2096. https://doi.org/10.1093/rof/rfs041
Acedo, F. J., Barroso, C., Casanueva, C., & Galán, J. L. (2006). Co-Authorship in management and organizational studies: An empirical and network analysis. Journal of Management Studies, 43(5), 957–983.
Alhammadi, S., Alotaibi, K. O., & Hakam, D. F. (2020). Analysing Islamic banking ethical performance from Maqāṣid al-Sharī‘ah perspective: Evidence from Indonesia. Journal of Sustainable Finance & Investment, 1–23.
Aliyu, S., Hassan, M. K., Mohd Yusof, R., & Naiimi, N. (2017). Islamic banking sustainability: A review of literature and directions for future research. Emerging Markets Finance and Trade, 53(2), 440–470.
Amin, H., Rahim Abdul Rahman, A., Laison Sondoh S., J., & Magdalene Chooi Hwa, A. (2011). Determinants of customers’ intention to use Islamic personal financing: The case of Malaysian Islamic banks. Journal of Islamic Accounting and Business Research, 2(1), 22–42.
Amin, M, & Isa, Z. (2008). An examination of the relationship between service quality perception and customer satisfaction: A SEM approach towards Malaysian Islamic banking. International Journal of Islamic and Middle Eastern Finance and Management, 1(3), 191–209.
Amin, Muslim, Isa, Z., Fontaine, R., & Darul Ehsan, S. (2013). Islamic banks: Contrasting the drivers of customer satisfaction on image, trust, and loyalty of Muslim and non-Muslim customers in Malaysia. International Journal of Bank Marketing, 31(2), 79–97.
Amran, A., Fauzi, H., Purwanto, Y., Darus, F., Yusoff, H., Zain, M. M., Naim, D. M. A., & Nejati, M. (2017). Social responsibility disclosure in Islamic banks: A comparative study of Indonesia and Malaysia. Journal of Financial Reporting and Accounting, 15(1), 99–115. https://doi.org/10.1108/JFRA-01-2015-0016
Appio, F. P., Cesaroni, F., & Di Minin, A. (2014). Visualizing the structure and bridges of the intellectual property management and strategy literature: A document co-citation analysis. Scientometrics, 101(1), 623–661.
Aria, M, & Cuccurullo, C. (2017). Bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975.
Aria, Massimo, & Cuccurullo, C. (2021). Bibliometrix: Comprehensive science mapping analysis. https://cran.r-project.org/web/packages/bibliometrix/index.html
Aria, Massimo, Cuccurullo, C., D’Aniello, L., Misuraca, M., & Spano, M. (2022). Thematic analysis as a new culturomic tool: The social media coverage on COVID-19 pandemic in Italy. Sustainability, 14(6). https://doi.org/10.3390/su14063643
Ariss, R. T. (2010). Competitive conditions in Islamic and conventional banking: A global perspective. Review of Financial Economics, 19(3), 101–108.
Aysan, A. F., Disli, M., Ng, A., & Ozturk, H. (2016). Is small the new big? Islamic banking for SMEs in Turkey. Economic Modelling, 54, 187–194. https://doi.org/https://doi.org/10.1016/j.econmod.2015.12.031
Beck, T., Demirgüç-Kunt, A., & Merrouche, O. (2013). Islamic vs. conventional banking: Business model, efficiency and stability. Journal of Banking and Finance, 37(2), 433–447. https://doi.org/10.1016/j.jbankfin.2012.09.016
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143. https://doi.org/https://doi.org/10.1016/S0304-4076(98)00009-8
Borenstein, M., Hedges, L. V, Higgins, J. P. T., & Rothstein, H. R. (2009). Introduction to Meta-Analysis. In Introduction to Meta-Analysis. John Wiley and Sons. https://doi.org/10.1002/9780470743386
Bourkhis, K., & Nabi, M. S. (2013). Islamic and conventional banks’ soundness during the 2007-2008 financial crisis. Review of Financial Economics, 22(2), 68–77. https://doi.org/10.1016/j.rfe.2013.01.001
Callon, M., Courtial, J.-P., Turner, W. A., & Bauin, S. (1983). From translations to problematic networks: An introduction to co-word analysis. Social Science Information, 22(2), 191–235. https://doi.org/10.1177/053901883022002003
Caraka, R. E., Hudaefi, F. A., Ugiana, P., Toharudin, T., Tyasti, A. E., Goldameir, N. E., & Chen, R. C. (2021). Indonesian Islamic moral incentives in credit card debt repayment: A feature selection using various data mining. International Journal of Islamic and Middle Eastern Finance and Management, ahead-of-p(ahead-of-print). https://doi.org/10.1108/IMEFM-08-2020-0408
Chen, H., Chiang, R. H. L., & Storey, V. C. (2012). Business intelligence and analytics: From big data to big impact. MIS Quarterly: Management Information Systems, 36(4), 1165–1188. https://doi.org/10.2307/41703503
Chong, B. S., & Liu, M.-H. (2009). Islamic banking: Interest-free or interest-based? Pacific Basin Finance Journal, 17(1), 125–144.
Čihák, M., & Hesse, H. (2010). Islamic banks and financial stability: An empirical analysis. Journal of Financial Services Research, 38(2 and 3), 95–113. https://doi.org/10.1007/s10693-010-0089-0
Cobo, M. J., López-Herrera, A. G., Herrera-Viedma, E., & Herrera, F. (2011a). An approach for detecting, quantifying, and visualizing the evolution of a research field: A practical application to the Fuzzy Sets Theory field. Journal of Informetrics, 5(1), 146–166.
Cobo, M. J., López-Herrera, A. G., Herrera-Viedma, E., & Herrera, F. (2011b). Science mapping software tools: Review, analysis, and cooperative study among tools. Journal of the American Society for Information Science and Technology, 62(7), 1382–1402. https://doi.org/10.1002/asi.21525
Donohue, J. C. (1972). A bibliometric analysis of certain information science literature. Journal of the American Society for Information Science, 23(5), 313–317. https://doi.org/10.1002/asi.4630230506
Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/https://doi.org/10.1016/j.jbusres.2021.04.070
Donthu, N., Kumar, S., Pandey, N., & Soni, G. (2021). A retrospective overview of Asia Pacific Journal of Marketing and Logistics using a bibliometric analysis. Asia Pacific Journal of Marketing and Logistics, 33(3), 783–806.
Dusuki, A. W., & Abdullah, N. I. (2007). Why do Malaysian customers patronise Islamic banks? International Journal of Bank Marketing, 25(3), 142–160. https://doi.org/10.1108/02652320710739850
Eaton, J. P., Ward, J. C., Kumar, A., & Reingen, P. H. (1999). Structural analysis of co-author relationships and author productivity in selected outlets for consumer behavior research. Journal of Consumer Psychology, 8(1), 39–59. https://doi.org/10.1207/s15327663jcp0801_02
Ergeç, E. H., & Arslan, B. G. (2013). Impact of interest rates on Islamic and conventional banks: the case of Turkey. Applied Economics, 45(17), 2381–2388. https://doi.org/10.1080/00036846.2012.665598
Erol, C., & El-Bdour, R. (1989). Attitudes, behaviour and patronage factors of bank customers towards islamic banks. International Journal of Bank Marketing, 7(6), 31–37. https://doi.org/10.1108/02652328910132060
Farook, S., Kabir Hassan, M., & Lanis, R. (2011). Determinants of corporate social responsibility disclosure: The case of Islamic banks. Journal of Islamic Accounting and Business Research, 2(2), 114–141.
Gao, X., & Guan, J. (2009). Networks of scientific journals: An exploration of Chinese patent data. Scientometrics, 80(1), 283–302.
Geissdoerfer, M., Savaget, P., Bocken, N. M. P., & Hultink, E. J. (2017). The Circular Economy – A new sustainability paradigm? In Journal of Cleaner Production. https://doi.org/10.1016/j.jclepro.2016.12.048
Ghayad, R. (2008). Corporate governance and the global performance of Islamic banks. Humanomics, 24(3), 207–216.
Hadad, M. D., Hall, M. J. B., Kenjegalieva, K. A., Santoso, W., & Simper, R. (2011). Productivity changes and risk management in Indonesian banking: A Malmquist analysis. Applied Financial Economics, 21(12), 847–861. https://doi.org/10.1080/09603107.2010.537636
Haniffa, R., & Hudaib, M. (2007). Exploring the Ethical Identity of Islamic Banks via Communication in Annual Reports. Journal of Business Ethics, 76(1), 97–116. https://doi.org/10.1007/s10551-006-9272-5
Hardianto, D. S., & Wulandari, P. (2016). Islamic bank vs conventional bank: Intermediation, fee based service activity and efficiency. International Journal of Islamic and Middle Eastern Finance and Management, 9(2), 296–311.
Haron, S., Ahmad, N., & Planisek, S. L. (1994). Bank Patronage Factors of Muslim and Non‐Muslim Customers. International Journal of Bank Marketing, 12(1), 32–40.
Hassan, A., & Syafri Harahap, S. (2010). Exploring corporate social responsibility disclosure: the case of Islamic banks. International Journal of Islamic and Middle Eastern Finance and Management, 3(3), 203–227.
Hassan, M. K., & Aliyu, S. (2018). A contemporary survey of islamic banking literature. Journal of Financial Stability, 34, 12–43. https://doi.org/https://doi.org/10.1016/j.jfs.2017.11.006
Higgins, J. P. T., Thompson, S. G., Deeks, J. J., & Altman, D. G. (2003). Measuring inconsistency in meta-analyses. British Medical Journal, 327(7414), 557–560. https://doi.org/10.1136/bmj.327.7414.557
Hjørland, B. (2013). Facet analysis: The logical approach to knowledge organization. Information Processing & Management, 49(2), 545–557. https://doi.org/https://doi.org/10.1016/j.ipm.2012.10.001
Hudaefi, F. A., & Badeges, A. M. (2021). Maqāṣid al-Sharī‘ah on Islamic banking performance in Indonesia: a knowledge discovery via text mining. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-03-2020-0081
Hudaefi, F. A., & Noordin, K. (2019). Harmonizing and constructing an integrated maqāṣid al- Sharīʿah index for measuring the performance of Islamic banks. ISRA International Journal of Islamic Finance, 11(2), 282–302. https://doi.org/10.1108/ijif-01-2018-0003
Hummon, N. P., & Dereian, P. (1989). Connectivity in a citation network: The development of DNA theory. Social Networks, 11(1), 39–63. https://doi.org/10.1016/0378-8733(89)90017-8
Hutapea, E. G., & Kasri, R. A. (2010). Bank margin determination: A comparison between Islamic and conventional banks in Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 3(1), 65–82. https://doi.org/10.1108/17538391011033870
Imam, P., & Kpodar, K. (2016). Islamic banking: Good for growth? Economic Modelling, 59, 387–401. https://doi.org/https://doi.org/10.1016/j.econmod.2016.08.004
Ismal, R. (2010). Assessment of liquidity management in Islamic banking industry. International Journal of Islamic and Middle Eastern Finance and Management, 3(2), 147–167. https://doi.org/10.1108/17538391011054381
Johnes, J., Izzeldin, M., & Pappas, V. (2014). A comparison of performance of Islamic and conventional banks 2004-2009. Journal of Economic Behavior and Organization, 103, S93–S107. https://doi.org/10.1016/j.jebo.2013.07.016
Kabir, M. N., Worthington, A., & Gupta, R. (2015). Comparative credit risk in Islamic and conventional bank. Pacific-Basin Finance Journal, 34, 327–353. https://doi.org/https://doi.org/10.1016/j.pacfin.2015.06.001
Kamla, R., & G. Rammal, H. (2013). Social reporting by Islamic banks: does social justice matter? Accounting, Auditing & Accountability Journal, 26(6), 911–945. https://doi.org/10.1108/AAAJ-03-2013-1268
Kessler, M. M. (1963). Bibliographic coupling between scientific papers. American Documentation, 14(1), 10–25.
Khan, F. (2010). How ‘Islamic’ is Islamic Banking? Journal of Economic Behavior & Organization, 76(3), 805–820. https://doi.org/10.1016/J.JEBO.2010.09.015
Maali, B., Casson, P., & Napier, C. (2006). Social reporting by islamic banks. Abacus, 42(2), 266–289. https://doi.org/10.1111/j.1467-6281.2006.00200.x
Metawa, S. A., & Almossawi, M. (1998). Banking behavior of Islamic bank customers: Perspectives and implications. International Journal of Bank Marketing, 16(7), 299–313. https://doi.org/10.1108/02652329810246028
Moher, D., Liberati, A., Tetzlaff, J., Altman, D. G., Altman, D., Antes, G., Atkins, D., Barbour, V., Barrowman, N., Berlin, J. A., Clark, J., Clarke, M., Cook, D., D’Amico, R., Deeks, J. J., Devereaux, P. J., Dickersin, K., Egger, M., Ernst, E., … Tugwell, P. (2009). Preferred reporting items for systematic reviews and meta-analyses: The PRISMA statement. PLoS Medicine, 6(7). https://doi.org/10.1371/journal.pmed.1000097
Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks. Journal of Banking and Finance, 58, 418–435. https://doi.org/10.1016/j.jbankfin.2015.04.030
Munim, Z. H., Dushenko, M., Jimenez, V. J., Shakil, M. H., & Imset, M. (2020). Big data and artificial intelligence in the maritime industry: a bibliometric review and future research directions. Maritime Policy & Management, 47(5), 577–597. https://doi.org/10.1080/03088839.2020.1788731
Naser, K., Jamal, A., & Al-Khatib, K. (1999). Islamic banking: A study of customer satisfaction and preferences in Jordan. International Journal of Bank Marketing, 17(3), 135–151. https://doi.org/10.1108/02652329910269275
Nur Rianto Al Arif, M., Nachrowi, N. D., Nasution, M. E., & Mahmud, T. M. Z. (2017). The Islamic banking spin-off: Lessons from Indonesian Islamic banking experiences. Journal of King Abdulaziz University, Islamic Economics, 30(2), 117–133. https://doi.org/10.4197/Islec.30-2.11
Pao, M. L. (1986). An empirical examination of Lotka’s law. Journal of the American Society for Information Science, 37(1), 26–33. https://doi.org/https://doi.org/10.1002/asi.4630370105
Pons, P., & Latapy, M. (2005). Computing Communities in Large Networks Using Random Walks. In pInar Yolum, T. Güngör, F. Gürgen, & C. Özturan (Eds.), Computer and Information Sciences - ISCIS 2005 (pp. 284–293). Springer Berlin Heidelberg.
Price, D. D. S. (1976). A general theory of bibliometric and other cumulative advantage processes. Journal of the American Society for Information Science, 27(5), 292–306. https://doi.org/https://doi.org/10.1002/asi.4630270505
Ramos-Rodrígue, A.-R., & Ruíz-Navarro, J. (2004). Changes in the intellectual structure of strategic management research: A bibliometric study of the Strategic Management Journal, 1980-2000. Strategic Management Journal, 25(10), 981–1004. https://doi.org/10.1002/smj.397
Ravichandra Rao, J. K. (1985). Informetrics vis-a-vis bibliometrics. Newsletter of the International Federation for Documentation, 1.
Reeves, B., & Borgman, C. L. (1983). A bibliometric evaluation of core journals in communication research. Human Communication Research, 10(1), 119–136. https://doi.org/10.1111/j.1468-2958.1983.tb00007.x
Risfandy, T., Tarazi, A., & Trinugroho, I. (2022). Competition in dual markets: Implications for banking system stability. Global Finance Journal, 52, 100579. https://doi.org/https://doi.org/10.1016/j.gfj.2020.100579
Shah, S. A. A., Sukmana, R., & Fianto, B. A. (2021). Stage-I Shariah compliant Macaulay’s duration model testing. Journal of Islamic Accounting and Business Research, 12(7), 941–964. https://doi.org/10.1108/JIABR-05-2020-0158
Soedarmono, W., Pramono, S. E., & Tarazi, A. (2017). The procyclicality of loan loss provisions in Islamic banks. Research in International Business and Finance, 39, 911–919. https://doi.org/https://doi.org/10.1016/j.ribaf.2016.05.003
Souiden, N., & Rani, M. (2015). Consumer attitudes and purchase intentions toward Islamic banks: The influence of religiosity. International Journal of Bank Marketing, 33(2), 143–161. https://doi.org/10.1108/IJBM-10-2013-0115
Srairi, S. A. (2010). Cost and profit efficiency of conventional and Islamic banks in GCC countries. Journal of Productivity Analysis, 34(1), 45–62. https://doi.org/10.1007/s11123-009-0161-7
Tabrani, M., Amin, M., & Nizam, A. (2018). Trust, commitment, customer intimacy and customer loyalty in Islamic banking relationships. International Journal of Bank Marketing, 36(5), 823–848. https://doi.org/10.1108/IJBM-03-2017-0054
Tarique, K. M., Islam, R., & Mohammed, M. O. (2020). Developing and validating the components of Maqasid al-Shari’ah -based performance measurement model for Islamic banks. International Journal of Islamic and Middle Eastern Finance and Management, ahead-of-print(ahead-of-print). https://doi.org/10.1108/imefm-12-2018-0432
van Eck, N J, & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3
van Eck, Nees Jan, & Waltman, L. (2018). VOSviewer Manual. https://www.vosviewer.com/documentation/Manual_VOSviewer_1.6.7.pdf
Volberda, H. W., Foss, N. J., & Lyles, M. A. (2010). Absorbing the concept of absorptive capacity: How to realize its potential in the organization field. Organization Science, 21(4), 931–951. https://doi.org/10.1287/orsc.1090.0503
Wilson, J. A. J., Belk, R. W., Bamossy, G. J., Sandikci, Ö., Kartajaya, H., Sobh, R., Liu, J., & Scott, L. (2013). Crescent marketing, Muslim geographies and brand Islam: Reflections from the JIMA Senior Advisory Board. Journal of Islamic Marketing, 4(1), 22–50. https://doi.org/10.1108/17590831311306336
Wouters, P., & Leydesdorff, L. (1994). Has Price’s dream come true: Is scientometrics a hard science? Scientometrics, 31(2), 193–222. https://doi.org/10.1007/BF02018560
Yunan, Z. Y. (2020). Does corruption affect Islamic banking? Empirical evidence from the OIC countries. Journal of Financial Crime, 28(1), 170–186. https://doi.org/10.1108/JFC-06-2020-0101
Zhao, D., & Strotmann, A. (2008). Evolution of research activities and intellectual influences in information science 1996-2005: Introducing author bibliographic-coupling analysis. Journal of the American Society for Information Science and Technology, 59(13), 2070–2086. https://doi.org/10.1002/asi.20910
Zupic, I., & Čater, T. (2015). Bibliometric Methods in Management and Organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629
Downloads
Published
Issue
Section
License
Journal of Islamic Monetary Economics and Finance is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
