References
Alam, M. K., Rahman, M. M., Runy, M. K., Adedeji, B. S., & Hassan, M. F. (2021). The influences of Shariah governance mechanisms on Islamic banks' performance and Shariah compliance quality. Asian Journal of Accounting Research, 7(1), 2–16. https://doi.org/10.1108/AJAR-11-2020-0112
Alhusain, A. S. (2021). Bank Syariah Indonesia: Tantangan dan strategi dalam mendorong perekonomian nasional. Info Singkat: Kajian Singkat Terhadap Isu Aktual dan Strategis Bidang Ekonomi Dan Kebijakan Publik, 8(3), 19–24.
Arif, M. N. R. A., Masruroh, A., Ihsan, D. N., & Rahmawati, Y. (2020). The alternative strategies for accelerating Islamic banking growth: Mergers, spin-offs, acquisitions, and conversions. Al-Ulum, 20(1), 24–37. https://doi.org/10.30603/au.v20i1.1171
Asian_Banker. (2021). The largest banks rankings. https://www.theasian banker.com/ab500/2018-2019/largest-islamic-banks
Atikah, I., Maimunah, & Zainuddin, F. (2021). Penguatan merger bank syariah BUMN dan dampaknya dalam stabilitas perekonomian negara. Salam: Jurnal Sosial dan Budaya Syar-i, 8(2), 515–532. https://doi.org/10.15408/sjsbs.v8i2.19896
Badan Kebijakan Fiskal. (2021). Tinjauan ekonomi, keuangan dan fiskal: Menjaga optimisme pemulihan ekonomi. (edisi 1 2021). Jakarta: Kementerian Keuangan.
Beccalli, E., & Frantz, P. (2009). M&A operations and performance in banking. Journal of Financial Services Research, 36(2), 1–33. https://doi.org/10.1007/s10693-009-0071-3
BMI. (2016). Tentang muamalat: Profil bank muamalat. https://www.bankmuamalat.co.id/profil-bank-muamalat
BSI. (2021). Informasi perseroan: Visi & misi. PT Bank Syariah Indonesia, Tbk.
Calomiris, C., & Karceski, J. (2000). Is the bank merger wave of the 1990s efficient? Lessons from nine case studies. Cambridge: University of Chicago Press.
Cartwright, S., & Cooper, C. L. (1995). Managing mergers acquisitions and strategic alliances. London: Routledge. https://doi.org/10.4324/ 9780080510903
David, F. R. (2006). Strategic management. Florence, SC: Prentice Hall.
Dionne, M. (2019). More regional banks may merge to meet tech challenges. American Banker. https://www.americanbanker.com/opinion/regional-banks-must-merge-to-meet-tech-challenges
Ekadjaja, M., Siswanto, H. P., & Rorlen, R. (2021). The impact of mergers on the performance of conventional banks in Indonesia. Advances in Economics, Business and Management Research, 63, 448–452. https://doi.org/10.2991/aebmr.k.210930.081
Ghozali, M., Kamri, N. B., & Khafid, M. A. Z. (2022). The merger of Indonesian Islamic banks: Impact on the Islamic economy development. Al-Iktisab: Journal of Islamic Economic Law, 6(1), 23–39. https://doi.org/10.21111/al-iktisab.v6i1.7551
Gunardi, H. (2021). Peran lembaga keuangan syariah dan pemerataan ekonomi umat. Presented at Indonesia Islamic Economic Forum, Jakarta, 22 January 2021.
Harada, K., & Ito, T. (2008). Did mergers help Japanese mega-banks avoid failure? Analysis of the distance to default of banks. Journal of the Japanese and International Economies, 25(1), 1–22. https://doi.org/10.1016/j.jjie.2010.09.001
Hasan, M., & Dridi, J. (2011). The effects of the global crisis on Islamic and conventional banks: A comparative study. Journal of International Commerce, Economics and Policy, 2(02), 163–200. https://doi.org/10.1142/S1793993311000270
Huda, A. N. (2012). The development of Islamic financing scheme for SMEs in a developing country: The Indonesian case. Procedia - Social and Behavioral Sciences, 52, 179–186. https://doi.org/10.1016/j.sbspro. 2012.09.454
Hussain, H., Khatoon, S., & Sarwar, Z. (2019). Competitive strategies of Islamic banks: A case of Pakistan. Journal of Philosophy, Culture and Religion, 46, 12–23.
Ibrahim, A. (2023). Metodologi Penelitian Ekonomi dan Bisnis Islam - Edisi Revisi. Q. Aini Ed. Jakarta: Bumi Aksara
IMF. (2020). World Economic Outlook: A long and difficult ascent. Washington, DC: International Monetary Fund.
Isman, A. F., Rusanti, E., & Makatita, A. R. (2023). Development aspects of post-merger Islamic banks: A systematic literature review. Perbanas Journal of Islamic Economics and Business, 3(2), 85–94. https://doi.org/10.56174/pjieb.v3i2.124
Kementerian Perencanaan Pembangunan Nasional. (2019). Masterplan ekonomi syariah Indonesia 2019-2024. Jakarta: Kementerian Perencanaan Pembangunan Nasional.
Kholili, I. (2023). Analysis of the application of Sharia principles in BRI Syariah, BNI Syariah, Mandiri and Bank Muamalat. International Journal of Economic Research and Financial Accounting (IJERFA), 1(3). https://doi.org/10.55227/ijerfa.v1i3.34
Kodrat. (2019). Konsep lima kekuatan Porter. Jakarta: PT. Binarupa Aksara.
KNEKS. (2019). Kajian konversi, merger, holding dan pembentukan bank BUMN syariah: Sebagai bagian dari program penguatan bank syariah. Jakarta: Komite Nasional Keuangan Syariah.
Kress, J. K. (2020). Modernizing bank merger review. Yale Journal on Regulation, 37(2), 435–498.
Kristiyana, H. (2021). Launching roadmap pengembangan perbankan syariah Indonesia 2020 - 2025. Presented at Otoritas Jasa Keuangan, Jakarta, 25 February 2021.
Macey, J. R., & Miller, G. P. (1997). Banking law and regulation. London: Little Brown Company.
Mailinda, R., Ibrahim, A., & Zainul, Z. R. (2018). Pengaruh Leverage, Likuiditas dan Ukuran Perusahaan terhadap Profitabilitas pada BNI Syariah di Indonesia Periode 2015-2017. Jurnal Ilmiah Mahasiswa Ekonomi Manajemen, 3(4). https://doi.org/10.24815/jimen.v3i4.9794
Mardini, R., Pramono, I. P., Hartanto, R., Avicenna, F. M., Aranni, I., & Adinda, R. (2022). Maqashid Sharia index and Indonesian Sharia banking efficiency: Pre-merger and post-merger. Kajian Akuntansi, 23(2), 190–205. https://doi.org/10.29313/ka.v23i2.10183
Mariana, & Ibrahim, A. (2022). Determinan Cash Holding pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. HEI EMA: Jurnal Riset Hukum, Ekonomi Islam, Ekonomi, Manajemen dan Akuntansi, 1(1).
Marimin, A., Romdhoni, A. H., & Fitria, T. N. (2017). Perkembangan bank syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 1(2), 75–87. http://dx.doi.org/10.29040/jiei.v1i02.30
Mehjabeen, L. (2018). Assessing attractiveness of banking industry of Bangladesh by applying Porter’s 5 forces model. International Journal of Business and Management Future, 2(1), 55–62. https://doi.org/10.46281/ijbmf.v2i1.238
Miftah, K. (2020). Merger bank syariah dan implikasinya bagi industri perbankan syariah Indonesia. Presented at Diskusi Kontemporer KSEI Sharia Economic Forum Fakultas Ekonomi dan Bisnis Universitas Gadjah Mada, Yogyakarta, 7 November 2020.
Nizar, M. A., & Nasir, M. (2020). Strengthening Sharia banking through merger or consolidation. Munich Personal RePEc Archive Paper, 97964, 1–46.
Nofinawati. (2015). Perkembangan perbankan syariah di Indonesia. Jurnal Ilmiah Syariah, 14(2), 168–183. http://dx.doi.org/10.31958/juris.v14i2.305
Noor, M. A. N. M., & Ahmad, N. H. B. (2012). The determinants of Islamic banks’ efficiency changes: Empirical evidence from the world banking sectors. Global Business Review, 13(2), 179–200. https://doi.org/10.1177/097215091201300201
Nugroho, L. (2023). Maslahah of Islamic banking merger discourses (Indonesia case). Afro Eurasian Studies, 12(2), 14–29. https://doi.org/10.33722/afes.1280330
OJK. (2020a). Roadmap keuangan berkelanjutan di Indonesia. Jakarta: Otoritas Jasa Keuangan.
OJK. (2020b). Roadmap pengembangan perbankan syariah Indonesia 2020-2025. Jakarta: Otoritas Jasa Keuangan.
OJK. (2020c). Sustainable finance roadmap phase II (2021 - 2025): The future of finance. Jakarta: Otoritas Jasa Keuangan.
Organisation for Economic Co-operation and Development. (2020). OECD economic outlook, interim report strengthening the recovery: The need for speed. Paris: OECD Publishing.
Porter, M. E. (1979). Strategic planning: How competitive forces shape strategy. Harvard Business Review, 57(2), 137–145.
Prasetyo, R., Abdala, U. A., & Nafi, M. H. K. (2023). Comparisonal analysis of financial performance between sharia and conventional banks (case study on BRI and BRI Sharia bank). Proceedings of the 2nd International Conference on Halal Development (ICHAD 2021), Malang, Indonesia, 5 October 2021, 87–91.
Pusat Kajian Anggaran Badan Keahlian – Setjen DPR RI. (2021). Analisis RKP dan pembicaraan pendahuluan APBN (Outlook perekonomian 2021: Optimisme penguatan fundamental ekonomi di tengah ketidakpastian). Dewan Perwakilan Rakyat Republik Indonesia.
Pusat Kependudukan LIPI, Ketenagakerjaan, P. P. dan P. K., & Lembaga Demografi Universitas Indonesia. (2020). Dampak darurat virus corona terhadap tenaga kerja di Indonesia.
Rachdi, H., & Mokni, R. B. S. (2023). Assessing the bank profitability in the MENA region: A comparative analysis between conventional and Islamic banks. International Journal of Islamic and Middle Eastern Finance and Management, 7(3), 305–332. https://doi.org/10.1108/IMEFM-03-2013-0031
Ramadhanayanti, W. P., Purwaningrum, S., & Natalina, A. (2022). Analisis Islamicity performance index pada bank syariah. Jurnal Akuntansi dan Manajemen Bisnis, 2(2), 34–40. https://doi.org/10.56127/jaman.v2i2.179
Rizvi, S. A. R., Narayan, P. K., Sakti, A., & Syarifuddin, F. (2020). Role of Islamic banks in Indonesian banking industry: An empirical exploration. Pacific-Basin Finance Journal, 62, 101117. https://doi.org/10.1016/j.pacfin.2019.02.002
Rosmiati, I., Ropei, A., Ramadhani, F., & Suharto, S. (2023). Merger and its impact on strengthening the development of Sharia banks in Indonesia. International Conference on Islamic Economic (ICIE), 2(1), 66–79. https://doi.org/10.58223/icie.v2i1.202
Salaam Gateway. (2023). The state of the global Islamic economy 2023/24 report. Abu Dhabi: Salaam Gateway.
Sari, N., Ibrahim, A., Muzammil, M., & Muksal, M. (2024). Managing Financing Risk of Islamic Banking Products in Indonesia: A Value at Risk Approach. Jurnal Ilmiah Islam Futura, 24(1), 213-240. DOI:http://dx.doi.org/10.22373/jiif.v24i1.17693
Sufian, F., & Majid, M. Z. A. (2007). Bank mergers performance and the determinants of Singaporean banks’ efficiency: An application of two-stage banking models. Gadjah Mada International Journal of Business, 9(1), 19–39. https://doi.org/10.22146/gamaijb.5602
Suhendra, I., & Ronaldo, E. (2017). Pengaruh intermediasi perbankan terhadap pertumbuhan ekonomi Indonesia. Tirtayasa Ekonomika, 12(1), 169–195.
Syamlan, Y. T., Wahyuni, S., & Sudiharto, L. (2023). Concentration level and market power of Islamic bank industry: Analysis of pre and post Bank Syariah Indonesia merger. Journal of Islamic Economic and Business Research, 3(2), 138–160. https://doi.org/10.18196/jiebr.v3i2.189
Tyas, A. A., & Rusydiana, A. S. (2021). The pre-merger efficiency of banks: Evidence in Indonesia state-owned Islamic banks. JEBIS: Jurnal Ekonomi dan Bisnis Islam, 7(1), 1–13. https://doi.org/10.20473/jebis.v7i1.23319
Ullah, M., & Seman, J. A. (2018). Merger and acquisition in banking sector: A review of the literature. Munich Personal RePEc Archive Paper, 108575, 1–23.
Utami, A. D., Risfandy, T., & Rahardjoputri, R. (2022). Islamic banks' merger: The case of Bank Syariah Indonesia. International Journal of Monetary Economics and Finance, 15(3), 201–212. https://doi.org/10.1504/IJMEF.2022.126904
Wirdayanti, Y. N. (2020). Merger bank syariah: Prospek dan arah gerak ekosistem keuangan Islam di Indonesia.
World_Bank. (2021). Global economic prospects, January 2021. The World Bank.
Worldometer. (2021). Covid-19 coronavirus pandemic by country (Indonesia): Last updated: May 25, 2020, 23:48 GMT. https://www.worldometers.info/coronavirus/
Yusgiantoro, I. B., Wirdiyanti, R., & Harjanti, A. D. (2020). How do banks fare after merger and acquisition? Evidence from Indonesia. Otoritas Jasa Keuangan Working Paper, 20(10), 1–23.
Yusuf, M., & Ichsan, R. N. (2021). Analysis of banking performance in the aftermath of the merger of Bank Syariah Indonesia in COVID-19. International Journal of Science, Technology & Management, 2(2), 472–478. https://doi.org/10.46729/ijstm.v2i2.182