BEYOND PROFIT: Assessing the Socio-Economic Resilience of Multinational Corporations in Aceh through an Islamic Economics Lens A Case Study of PT Unilever Indonesia Tbk (2015-2022)
Keywords:
Maqasid al-Sharia, Socio-Economic Resilience, Adat-Sharia Synthesis, Islamic CSR (ICSR)Abstract
Purpose: This study examines the relationship between conventional financial performance and socio-economic resilience within the unique Acehnese context, applying Maqasid al-Shariah. Moving beyond profit-centric metrics, it investigates how Current Ratio (CR), Return on Assets (ROA), and Total Assets Turnover (TAT) of PT Unilever Indonesia Tbk (2015-2022) correlate with indicators of Maslahah as the public welfare and community resilience, particularly relevant for post-conflict, post-pandemic Aceh navigating Sharia implementation and Adat.
Method: Utilizing mixed methods, secondary financial data analysis (multiple regression, classical assumption tests) is triangulated with qualitative insights from Acehnese ulama, community leaders, and analysis of Unilever's CSR initiatives in Aceh (e.g., Langsa-based programs, halal supply chain development).
Findings: The findings revealed that while ROA and TAT positively correlate with conventional profit growth, their relationship with Maslahah indicators (local employment quality, environmental sustainability in Aceh, support for adat-aligned SMEs) is complex and often weak
Crucially, a high CR, while ensuring liquidity, showed no significant link to enhanced community resilience during the pandemic.
Limitations and Theoretical Implications: The study argues that conventional metrics alone are insufficient gauges of true economic contribution in Aceh.
Practical Implications: It proposes integrating Islamic finance-inspired indicators better align corporate performance with Aceh's socio-cultural fabric and Maqasid-driven development goals. This reframing offers policymakers and Islamic financial institutions pathways to foster genuinely resilient, Sharia-compliant business ecosystems in Muslim-majority regions
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