IDEAS home Printed from https://ideas.repec.org/a/idn/jimfjn/v10y2024i4ap631-656.html
   My bibliography  Save this article

Financial Resilience Among Women Small And Medium Enterprise In Malaysia During And After Covid-19: The Role Of Islamic Social Finance

Author

Listed:
  • Nur Farhah Mahadi

    (IIUM Institute of Islamic Banking and Finance, Malaysia)

  • Muhammad-Bashir Owolabi Yusuf

    (Al-Hikmah University, Ilorin, Nigeria)

  • Salina Kassim

    (International Islamic University Malaysia, Malaysia)

  • Syarah Syahira Binti Mohd Yusoff

    (International Islamic University Malaysia, Malaysia)

Abstract

The COVID-19 pandemic disproportionately impacted women-owned small and medium enterprises (SMEs) in Malaysia, exposing their vulnerabilities and highlighting the need for effective resilience strategies. This study examines the role of Islamic social finance in enhancing the financial resilience of these businesses during and beyond the pandemic. To achieve this goal, the study explores three key areas i.e., identifying factors shaping the financial resilience of women-owned SMEs in Malaysia during and beyond the pandemic, assessing the effectiveness of Islamic social finance instruments in fostering financial resilience for these businesses, and formulating recommendations for effective policies that strengthen the financial resilience of women-owned SMEs, enabling them to navigate future pandemics more effectively. Using a Partial Least Squares Structural Equation Modeling (PLS-SEM) method and 330 respondents, we document no significant effects of Islamic social finance instruments on the financial resilience of women-owned SMEs. We argue that this documented insignificance could be due to the ways Islamic Social Finance (ISF) is operationalized. At the same time, contradicting previous research on the ISF women-owned SMEs financial resilience, we also believe that further investigation is needed.

Suggested Citation

  • Nur Farhah Mahadi & Muhammad-Bashir Owolabi Yusuf & Salina Kassim & Syarah Syahira Binti Mohd Yusoff, 2024. "Financial Resilience Among Women Small And Medium Enterprise In Malaysia During And After Covid-19: The Role Of Islamic Social Finance," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 10(4), pages 631-656, November.
    • Handle: RePEc:idn:jimfjn:v:10:y:2024:i:4a:p:631-656
    DOI: https://doi.org/10.21098/jimf.v10i4.2009
    as

    Download full text from publisher

    File URL: https://jimf-bi.org/index.php/JIMF/article/view/2009/983
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.21098/jimf.v10i4.2009?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:idn:jimfjn:v:10:y:2024:i:4a:p:631-656. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lutzardo Tobing or Jimmy Kathon (email available below). General contact details of provider: https://edirc.repec.org/data/bigovid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.