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EMPIRICAL RESEARCH: THE IMPACT OF FOOD SECURITY ON ECONOMIC GROWTH (CASE STUDY IN INDONESIA) Hartono, Wendra; Kodrat, David Sukardi; Tambunan, Damelina Basauli; Pramana, Isadora Elgina; Alexander, Juan Richard
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 7 No 4 (2023): IJEBAR, Vol. 7 Issue 4, December 2023
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v7i4.11547

Abstract

Abstract: The world is perceived to be experiencing an acute food crisis which will continue until 2023. The Ministry of Finance of the Republic of Indonesia estimated that the upcoming global economic growth will weaken. Drops in the economy can be influenced by the uncertain global financial markets, inflationary pressures, increasing stagflation rate, and geopolitical situations. The problem research is: Does food security have an impact on Indonesia's economic growth? This study adopts real GDP (Y) as a proxy for economic growth; labor force (Lf) as a proxy for labor; Gross Capital formation (CI) as a proxy for capital; food production index (FS) as a proxy for food security; and trade openness (TO) is proxied by the sum of total export and total import divided by real GDP. This study examines and compares the impact of food security on economic growth in Indonesia using VECM method using 30 years of data, ranging from 1991 to 2020. The estimated results signified that food security in Indonesia plays a pivotal role in stimulating economic growth although the level of influence varies.
EVALUASI KINERJA LAPORAN KEUANGAN SAHAM BJTM DAN BJBR Hartono, Wendra
Jurnal Akuntansi Kontemporer Vol. 12 No. 1 (2020)
Publisher : Widya Mandala Surabaya Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33508/jako.v12i1.2169

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In the banking world is the front line in the world of leading economy in Indonesia. Several major activities in the banking business sector are related to the number growth of rate interest or credit, inflation rate, bond, digital financial services, term deposit, mutual fund and other instruments. BJBR and BJTM, are categorized as a local government bank which had long been on the floor market since 2010 and 2012. Both of bank shares has been targeted by investors, it is due to their performance are better by the time goes by and the number of dividend per share also constantly high and price per share is still cheap. The aim of this research is more about evaluation of BJBR and BJTM’s performances either in fundamental or technical analysis sides also news or fact from these stocks since 2016. The method used in this study is qualitative descriptive, which explore the important incidents occurred. The result of this research shows that BJBR share has better performance and financial report compared to BJTM. Nevertheless, it is still needed to be considered that price per share of BJTM is much cheaper than BJBR.
A Comparative Study for Good Corporate Governance During Covid-19 Pandemic in Basic Material Industry: A study case in Public Listed Company in Indonesia Andersen, Matthew; Valentina, Lilia; Laturette, Kazia; Hartono, Wendra
Journal of International Conference Proceedings Vol 6, No 1 (2023): 2023 ICPM Malang Proceeding
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v6i1.2237

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This aim of this study is to find out the differences the characteristic for Corporate Governance before and during the Covid-19 pandemic. Covid-19 pandemic has devastated global economic condition. Many industries has been affected and faced severe condition to survive. Top level management such as Board of Directors must deal with difficulties situation and uncertainties market condition. Lock down policy has changed habbitual for humans to stay and work from home. The needs for basic materials were increasing during the Covid-19 pandemic.  Because of scarcity occured in the market to keep some basic materials, it cause increasing the price of basic materials. Some business has increased the income, including basic materials. Therefore the financial report for basic materials industry have shown positive for income statement, and lead to shareholders to ask the dividend in the Annual general meeting for shareholders. This study is a part of quantitative research and use secondary data. The sample in study this is coming from Basic Materials Industry from public listed companies in the Indonesia Stock Exchange for 2018 – 2020, as 43 companies. This study will use statistic-test which is a difference test  or t-test. Independent variables used in this study are Commissioner Independent , Board of Directors, Board of Commissioners, and Audit Committee. This findings will be useful for academician to get some insight or references to help further research.
PELATIHAN PEMBEKALAN ASPEK KEUANGAN BAGI UMKM DI BIDANG MAKANAN DAN MINUMAN AGAR JIWA KEWIRAUSAHAAN BERTUMBUH DI KABUPATEN TULUNGAGUNG Sutanto, J.E.; Hongdiyanto, Charly; Hartono, Wendra; Santoso, Eko Budi
BUDIMAS : JURNAL PENGABDIAN MASYARAKAT Vol. 6 No. 1 (2024): BUDIMAS : Jurnal Pengabdian Masyarakat
Publisher : LPPM ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Tantangan dan sekaligus peluang bagi UMKM dan hal ini Team Abdimas terus mendorong untuk melakukan melakukan upaya untuk membantu bagi UMKM khusunya di Kabupuaten Tulungagung. Dimana kegiatan yang diberikan oleh Team Abdimas Universitas Ciputra Surabaya yaitu berupa pelatihan pembekalan untuk aspek keuangan sesuai usaha UMKM di bidang makanan dan minuman. Aspek keuangan menjadi target utama Team Abdimas Universitas Ciputra Surabaya, meningat salah satu kelemahan UMKM adalah masih lemahnya pengetahuan dan pemahaman mengenai manajemen keuangan apalagi ditambah dengan pendemi Covid-19, UMKM mengalami berbagai macam persoalan. Oleh karean itu perlu adanya penguatan UMKM melalui berbagai keterampilan agar UMKM dapat bertahan selama pendemi, dan pasca pendemi. Hasil dari kegiatan ini adalah para peserta mulai diberikan materi bagaiman menyusun laporan keuangan dengan benar dan mulai mengimplementasikan manajemen keuangan terutama: cash flow yang dulunya kurang menjadi perhatian. Peserta sangat terbantu dengan adanya penyusunan laporan keuangan sebagai salah satu indikator keberlangsungan usaha yang telah dirintisnya selama ini.
THE IMPACT OF US-CHINA TRADE WAR ON INVESMENT DECISION IN INDONESIA Djuandi, Jacqueline Valentine; Hartono, Wendra
JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). Vol 12 No 3 (2025): JMBI UNSRAT Volume 12 Nomor 3
Publisher : Magister Manajemen Program Pasca Sarjana Universitas Sam Ratulangi Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35794/jmbi.v12i3.65047

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The US–China trade war has created substantial uncertainty in the global economy, influencing investment patterns in emerging markets such as Indonesia. This study examines how financial literacy, risk perception, and locus of control shape Indonesian investors’ decisions when choosing between risky and safe assets during this period of economic volatility. By focusing on behavior displayed throughout the trade war, the research highlights how investors weigh potential risks against expected returns amid heightened market instability. Using a quantitative approach, the study employs multiple regression analysis to assess the extent to which these psychological and economic factors affect investment choices. The findings aim to deepen the understanding of investor behavior in times of crisis and provide practical insights for both individual and institutional investors navigating uncertain conditions. Furthermore, the results contribute to the broader field of behavioral finance by illustrating how cognitive and psychological traits influence investment strategies. Insights from this study may assist policymakers, financial advisors, and investors in developing more informed approaches to managing portfolios during periods of global economic disruption.
The Effect of TikTok Live Shopping on Consumer Behavior in Surabaya Fashion Industry Shafani Anataya Prasetyo, Cheerisa; Hartono, Wendra
Journal of Accounting and Finance Management Vol. 6 No. 5 (2025): Journal of Accounting and Finance Management (November - December 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v6i5.2764

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The rapid growth of TikTok Live Shopping has transformed consumer behavior in Indonesia’s fashion industry, particularly among young urban audiences. This study aims to examine the influence of interactive features, discount promotions, and fear of missing out (FOMO) on impulsive buying behavior in the Surabaya fashion market. Guided by the Stimulus–Organism–Response (SOR) framework, the research employs a quantitative approach with purposive sampling, targeting 384 respondents aged 18–28 who have shopping experience via TikTok Live. Data were collected through structured questionnaires and analyzed using multiple regression with SPSS. The findings demonstrate that all three independent variables: interactive features, discount promotions, and FOMO have a positive and significant effect on impulsive buying, with FOMO emerging as the most dominant factor. The simultaneous test further confirms that these predictors collectively exert a strong influence, explaining a substantial proportion of the variance in impulsive buying behavior. These results highlight the critical role of psychological triggers and interactive digital features in shaping consumer decision-making within livestream shopping contexts. The study contributes to the growing body of literature on digital commerce by emphasizing how emotional and technological drivers intersect to accelerate fashion consumption among Generation Z. Practically, the findings offer strategic insights for fashion retailers and marketers to design more engaging, urgency-driven, and socially interactive campaigns that foster consumer engagement and drive sales in competitive online marketplaces.
The Impact of Corporate Governance on Dividend Pay-out Ratio Policy During the Covid-19 Era: The Study Case in the Basic Material Industry in Indonesia Wendra Hartono; Kazia Laturette; Kartikasari Gunawan
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 6, No 2 (2023): June 2023
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v6i2.2314

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The purpose of this study is to analyze the impacts of Good Corporate Governance during the Covid -19 era on the dividend payout rasio policy in Indonesia. During Covid-19 era, the Basic Materials industry has faced big challenges due to lock down policy occured in many big areas which can lead to disruptive global economic supply chain. Increasing income in many Basic Material industry, can cause the percentage payment of dividends during the year of 2020 proposed by Director boards and Commissioner boards. In this research will show and compare the condition of Basic Material industry before and during Covid-19 pandemic. This reseach is categorized as quantitative research which the sample used is gathered from secondary data, financial report, from basic material industry for public listed company in the Stock Exchange of Indonesia during 2018 – 2020, with a total number of 43 companies. There are 4 independent variables are being researched, which are the Independent Commissioner, the Board of Directors, the Board of Commissioners and the Audit Committee, meanwhile the dependent variable is dividend payout ratio. The finding shows that Audit Committee (AC) is the only a significant variable that influence the Dividend Payout Ratio in the Basic Material Industry in Indonesia before COVID-19 pandemic, but it does not have a significant influence during COVID-19 pandemic.
The Role of Trust in Strengthening Repurchase Intention: Evidence from the Business-to-Business Oil and Fats Industry Ruth Frida Julianti Tambunan; Wendra Hartono
Journal of Economics and Management Scienties Volume 8 No. 4, September 2026 (Accepted)
Publisher : SAFE-Network

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37034/jems.v8i4.506

Abstract

This study examines the effects of product quality, service quality, and brand image on repurchase intention, with trust as a mediating variable, in the business-to-business (B2B) oil and fats industry. The research was motivated by declining sales performance and increasing customer complaints at PT Multimas Nabati Asahan Serang despite the growth of Indonesia’s palm oil industry. Drawing on the Theory of Planned Behavior, this study proposes that operational and reputational factors shape customer trust and subsequently influence repurchase intention. A quantitative explanatory approach with a cross-sectional survey design was employed. Data were collected from business customers and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that brand image significantly affects trust and repurchase intention, while product quality significantly influences repurchase intention. Trust also has a significant positive effect on repurchase intention. However, product quality and service quality do not significantly affect trust, and service quality does not significantly influence repurchase intention. Trust mediates the relationship between brand image and repurchase intention but does not mediate the effects of product quality or service quality. The findings highlight the importance of supplier credibility, reputation, and trust in strengthening customer retention in industrial markets.
From Service to Stickiness: Peran Mediasi Kepuasan Pelanggan dan Moderasi Perbedaan Generasi Verdo Reginald; Charly Hongdiyanto; Wendra Hartono
Community Engagement and Emergence Journal (CEEJ) Vol. 7 No. 1 (2026): Community Engagement & Emergence Journal (CEEJ)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ceej.v7i1.11540

Abstract

Penelitian ini mengkaji bagaimana Service Quality membentuk kepuasan dan loyalitas customer pada kelompok generasi yang berbeda di Gedung Spazio, Surabaya Barat. Studi-studi sebelumnya umumnya membuktikan keterkaitan antara mutu pelayanan dan loyalitas pelanggan, namun kajian tersebut masih terkonsentrasi pada sektor jasa secara luas dan belum banyak menyentuh konteks gedung perkantoran di Indonesia secara spesifik. Di samping itu, karakteristik generasional — mencakup Baby Boomer, Generasi Milenial, hingga Generasi Z — diduga turut membentuk persepsi customer terhadap dimensi-dimensi Service Quality seperti keandalan, daya tanggap, dan jaminan layanan. Bertumpu pada Expectation–Confirmation Theory (ECT) yang dipadukan dengan kerangka SERVQUAL dan perceived value, penelitian ini menerapkan desain survei kuantitatif untuk menelusuri pengaruh langsung, peran mediasi, serta efek moderasi di antara variabel Service Quality, Customer Satisfaction, Customer Loyalty, dan Generational Differences. Sebanyak 120 customer aktif Gedung Spazio yang merepresentasikan berbagai kelompok generasi dilibatkan sebagai responden. Temuan penelitian ini diharapkan memperkaya penerapan ECT melalui penambahan dimensi generasional dalam kajian Service Quality, sekaligus menawarkan implikasi praktis bagi pengelola properti dalam upaya memperkuat loyalitas customer. 
Developing a 7P Marketing Strategy for Nail Art Services: A Benchmarking Case Study in Surabaya, Indonesia Celine Frans; Wendra Hartono
BIMA Journal (Business, Management, & Accounting Journal) Vol. 7 No. 1 (2026)
Publisher : Perkumpulan Dosen Muda (PDM) Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37638/bima.7.1.207-220

Abstract

Purpose: This study aims to develop an adaptive marketing strategy for nail art micro, small, and medium enterprises (MSMEs) in Surabaya, Indonesia, by integrating the 7P marketing mix with a benchmarking approach. Methodology: The research employed a qualitative exploratory design using benchmarking as the main analytical approach, with data collected through in-depth interviews and observations of selected nail art studios using purposive sampling, and analysed through thematic coding techniques including open, axial, and selective coding. Results: The findings indicate that effective marketing strategies in nail art MSMEs depend on the integrated implementation of the 7P marketing mix rather than isolated application, with benchmarking enabling businesses to identify best practices and adapt to dynamic market conditions. Findings: Benchmarking functions as a continuous learning mechanism that strengthens innovation, digital engagement, service quality, and brand consistency when aligned with internal marketing practices. Novelty: This study proposes an adaptive marketing strategy framework that combines benchmarking with the 7P marketing mix, transforming a traditional marketing model into a dynamic and learning-oriented system for creative service MSMEs. Conclusion: The adaptive framework offers both theoretical and practical insights for enhancing competitiveness and long-term sustainability in trend-driven and highly competitive markets. Type of Paper: Qualitative research.  
Co-Authors Adi Kurniawan Yusup Agustiono, Agustiono Alexander, Juan Richard Anastasia Filiana Ismawati Andersen, Matthew Andhika Widjojo Aria Ganna Henryanto Auditia Setiobudi Calvin Stefanus Celine Frans Chang, Deanna Rhea Charly Hongdiyanto Cynthia Hartono Damelina B. Tambunan David Sukardi Kodrat Denpharanto Agung Krisprimandoyo Djuandi, Jacqueline Valentine Eko Budi Santoso Eko Budi Santoso Eko Budi Santoso Fransisca Desiana Pranatasari Gilbert Hutomo Konrad Gracia Ongkowijoyo Gunawan, Kartikasari Hanifah, Haniruzila Hardjono, Retno Kusumastuti Indudewi, Febe Yuanita Ratna Isadora Elgina Pramana J.E. Sutanto J.E. Sutanto Johanes Marco Poilot Juan Richard Alexander Karang, Aurey Andrea Kartikasari Gunawan Kartikasari Gunawan Kazia Laturette Kevin Widjaya Kimberly Valencia Kurniawan, Felicia Bella Kusuma, Meidiahna Laij Victor Effendi Laksmana, Chelsy Velinda Lenny Gunawan Lila Ramadhani Sukendy Liliana Dewi Listyatmadja, Hosea Kristo Malik Cahyadin Mangempis, Zefanya Agung Metta Padmalia Meyer Chang Napitupulu, Alfons Manuel P.M. Onodite, Jocely Ortega Sevylla Tandra Pramana, Isadora Elgina Richelle Jesslyn Ricky Febrianto Afandi Rinabi Tanamal Ruth Frida Julianti Tambunan Satyanegara, Teresa Samantha Shafani Anataya Prasetyo, Cheerisa Soesanto, Carlyn Sonata Christian Thomas Stefanus Kaihatu Tirtamas P.K, Surya Valentina, Lilia Verdo Reginald Wattimena, Ann Maritza Widjaja, David Putra Wiliam Santoso Winarjo, Alexander Jevan Yuli Kartika Dewi Zelia Valezka Tanjung, Juanita