Human Identity Factors in Human Capital Investment in Driving Financial Performance, Case Study of the Islamic Hospitality Industry in Indonesia



  • Lina Damayanti STIE Jaya Negara Tamansiswa Malang
  • Diah Rusminingsih STIE Jaya Negara Tamansiswa Malang


Human Resources, Investment, Syaria Hospitalityh


This study aims to examine the effect of human identity on the success of human capital investment in encouraging the financial performance of the Islamic hotel industry. We use a combination of qualitative content analysis research methods by analyzing more than 150 annual reports from all Islamic hotels in Indonesia that are listed on the Indonesia Stock Exchange, magazines, scientific articles and books from 2000 to 2020. To triangulate the results of the analysis content carried out, we using the quantitative method Vector Error Correction Model to triangulate the qualitative conclusions that we use by analyzing the results of the aggregate estimation of human capital investment responses and impulses in all Islamic hotels listed on the Indonesian stock exchange with financial records of Islamic hotel performance from 2000 to 2019.We find that there are psychological driving factors of self-identification of human resources on the success of human capital investment in driving the financial performance of business organizations in the Islamic hotel industry in Indonesia.