Jurnal Penelitian Ekonomi dan Bisnis

Dynamics of Macroeconomic Variables on Syariah Stock Returns in Asean Region: ARDL Analysis

2025-03-03T10:07:06+00:00

This study investigates the temporal impact of macroeconomic indicators specifically inflation, GDP growth, and foreign exchange reserves on Islamic stock returns within the ASEAN region, focusing on both short-term and long-term effects. Employing a quantitative approach with a causal design, the research utilizes the ARDL Panel model to analyze quarterly data from Sharia stock indices in Indonesia, Malaysia, Thailand, and Singapore spanning 2014 to 2023. The findings indicate that inflation negatively affects Islamic stock returns in the long term, while its short-term impact is minimal. In contrast, economic growth is found to enhance Islamic stock returns in both timeframes. Regarding foreign exchange reserves, the analysis reveals a negative long-term effect but a positive short-term effect. These conclusions highlight the importance for investors and regulators to consider macroeconomic dynamics when developing investment strategies

The Role of Digital Knowledge Sharing and Tourist Destination Image in Enhancing Tourist Visits to North Sulawesi

2025-09-30T05:53:10+00:00

International tourist arrivals in North Sulawesi remain significantly lower than in established destinations like Bali, highlighting the need for targeted strategies to leverage the province's rich natural and cultural assets, such as Bunaken National Park and Tarsius sanctuaries. This study examines the mediating role of Digital Knowledge Sharing (DKS) the exchange of tourism information via social media, blogs, and review platforms like TripAdvisor—in the relationship between Tourist Destination Image (TDI) and Tourist Visits (TV). Drawing on image formation theory, the research addresses a gap in mediation analyses for emerging destinations. Employing a quantitative survey design with purposive sampling of 250 tourists (visitors and potential visitors), data were analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM) in SmartPLS 4.0. Constructs included TDI (cognitive, affective, and conative dimensions), DKS (sharing intensity), and TV (visit intention and actualization). Results confirm significant direct effects of TDI on both DKS (β = 0.479, p < 0.001) and TV (β = 0.687, p < 0.001), but reject DKS as a mediator (indirect effect β = 0.055, p = 0.171) and its direct effect on TV (β = 0.115, p = 0.140). This study advances theory by testing a DKS mediation model in an emerging context, integrating User-Generated Content (UGC) perspectives. Practically, it recommends image-focused digital campaigns for North Sulawesi policymakers to boost visits, while addressing digital infrastructure barriers to enhance DKS efficacy.

The Influence of Digital Financial Literacy, Social Environment, and Financial Self Efficacy on Online Loans among Generation Z

2026-01-16T04:40:40+00:00

This study aims to describe and analyze the influence of digital financial literacy, social environment, and financial self-efficacy on individuals' decisions to take out online loans. The type of research is quantitative research. The population in this study is Generation Z. The sampling technique used primary data in the form of questionnaires, resulting in 80 respondents. The data collection method used Structural Equation Modeling (SEM) with AMOS 22 and SPSS 22 software. The research results show that: digital financial literacy has a negative and insignificant effect on online loans, the social environment has a positive but insignificant effect on online loans, financial self-efficacy has a positive but insignificant effect on online loans, digital financial literacy has an indirect (full mediation) effect on financial self-efficacy, and the social environment has an indirect (full mediation) effect on financial self-efficacy.

The Influence of Digital Transformation, Intellectual Capital, and Stakeholder Pressure on Sustainability Report Disclosure

2026-01-08T04:50:12+00:00

This study is motivated by the growing importance of corporate transparency and accountability for social, environmental, and economic impacts. In Indonesia, sustainability reporting, which was previously voluntary, has become increasingly essential due to stronger stakeholder demands and evolving regulations—particularly in the energy sector, which contributes significantly to environmental impacts and often faces public scrutiny. This study aims to analyze the effects of digital transformation, intellectual capital, and stakeholder pressure on sustainability report disclosure in energy sector companies listed on the Indonesia Stock Exchange (IDX) during 2021–2023. Using secondary data from sustainability and annual reports, a purposive sampling method was applied to 89 energy companies, resulting in 84 observations, analyzed through panel data regression using Eviews 10. The results show a coefficient of determination (R²) of 0.82, indicating that 82% of the variation in sustainability report disclosure is explained by the independent variables. Digital transformation, consumer pressure, and environmental pressure significantly influence sustainability report disclosure, while intellectual capital and investor pressure do not. Theoretically, this study enriches the sustainability disclosure literature by integrating digital transformation and stakeholder pressure into the analytical framework. Practically, it provides insights for policymakers and company management to strengthen digital initiatives and stakeholder responsiveness to enhance the quality of sustainability reporting.

The Role of Internal Supervisor Unit (SPI) in Achieving Good University Governance: The Moderating Effect of Management Support

2025-12-08T09:59:52+00:00

This research aims to examine the influence of the role of Internal Supervisor Unit (SPI) on the achievement of Good University Governance (GUG) principles and how management support moderating this relationship. This research uses a quantitative approach by collecting data online through a Google Form questionnaire with a total of 32 respondents who are members or part of the SPI at each Public Universities (PTN) in Indonesia. The data was analyzed using SEM-PLS with the help of WarpPLS 8.0 software. The results show that the role of Internal Supervisor Unit (SPI) empirically has a positive and significant influence on the achievement of Good University Governance (GUG) and that management support significantly strengthens the role of SPI in achieving good university governance. These findings conclude that the SPI had an important role in preventing agency conflicts that can hinder the implementation of good university governance. However, the effectiveness of the SPI’s role is greatly influenced by strong support from management. This study has limitations due to the very small number of respondents, so the results cannot be generalized to all Public Universities (PTN) in Indonesia. Further research is recommended to multiply the sample through face-to-face surveys, use a qualitative approach through interviews, and conduct comparative tests between different types of Public Universities (PTN).

Reveal the Factors that Influence Carbon Emissions in Indonesia

2025-08-16T04:25:31+00:00

Tingginya emisi karbon Indonesia merupakan tantangan utama dalam mewujudkan pembangunan berkelanjutan di tengah pertumbuhan ekonomi yang pesat. Penelitian ini mengkaji determinan total emisi karbon di Indonesia, dengan perhatian khusus pada nilai tambah per kapita dari industri manufaktur, kepadatan penduduk, dan Produk Domestik Regional Bruto (PDRB) sektor pertambangan dan penggalian. Data yang digunakan adalah 10 provinsi dengan emisi karbon tertinggi selama periode 2018-2023. Dengan menerapkan analisis data panel melalui kerangka kerja Model Efek Tetap (FEM), analisis ini menunjukkan bahwa nilai tambah manufaktur per kapita dan kepadatan penduduk memiliki hubungan yang signifikan dan positif terhadap tingkat emisi karbon. Sementara itu, PDRB sektor pertambangan dan penggalian tidak berperan substansial dalam memengaruhi emisi karbon, kemungkinan disebabkan oleh perbedaan karakteristik pemanfaatan sumber daya alam di setiap provinsi, penerapan teknologi ramah lingkungan di sektor pertambangan tertentu, atau pelaporan resmi yang belum mencerminkan emisi karbon dari sektor pertambangan. Analisis ini menunjukkan pentingnya pengendalian emisi di sektor industri dan pengelolaan kepadatan penduduk sebagai bagian dari strategi mitigasi perubahan iklim.

Does Digital Competence Improve Employee Performance? The Role of Smart Digital Services Mediation in the Public Sector

2026-01-08T02:11:10+00:00

This study examines the role of digital competence in improving employee performance, with smart digital services as a mediating variable in the public sector. Previous studies have largely focused on the direct relationship between competence and digital performance, with limited attention to the mediation mechanisms of smart digital services in government agencies. This study addresses this gap by proposing an integrated model that is tested in the context of provincial government. The object of this study was employees of the Regional Secretariat of Central Java Province, with a total of 142 respondents selected using proportional random sampling. The results of the study show that digital competence has a significant positive effect on employee performance, both directly and indirectly through smart digital services. Smart digital services partially mediate the relationship between digital competencies and employee performance, highlighting their strategic role in supporting digital transformation in the public sector. This research contributes theoretically by expanding the digital competency literature through a mediation mechanism model and provides practical implications for public organizations in strengthening digital capacity to improve performance.

Analysis of the Effect of Information Technology Governance on Audit Risk with Audit Quality as A Moderating

2025-11-17T01:40:22+00:00

The Industrial Revolution 4.0 has transformed corporate operations by increasing reliance on Information Technology, which brings new challenges related to data security and reliability. IT governance is crucial to ensure effective management and reduce audit risk. Audit quality plays a moderating role in the relationship between IT governance and audit risk. This study aims to analyze the effect of IT Governance projected by IT Performance, IT Committee and Supervision on Audit Risk calculated by Return on Asset, Quick Ratio and Leverage Ratio with Audit Quality as a moderating variable. This study was conducted on industrial sector companies listed on the Indonesia Stock Exchange during the 2019-2023 period. Descriptive quantitative method was used with secondary data collection from annual reports and financial statements. The results showed that IT Performance and IT Committee have a significant negative effect on Audit Risk as measured by Return on Asset, Quick Ratio, and Leverage Ratio. On the other hand, Supervision has a significant positive effect on all Audit Risk measurement models. Audit Quality is shown to moderate the relationship between IT Governance and Audit Risk, where the interaction of Audit Quality with IT Performance and IT Committee shows a significant positive effect, while the interaction with Supervision shows a significant negative effect. These findings emphasize the importance of effective management of IT and strengthening audit quality to minimize audit risk and improve corporate financial performance.