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TRANSNATIONAL ECONOMIC COOPERATION IN BORDER TERRITORIES: OPPORTUNITIES AND CHALLENGES Melyana R Pugu; Erwin; Jeferson Siahaan; Mohd Syahrin
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 5 (2024): May
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Transnational economic cooperation is a process of cooperation between countries in order to increase global economic growth and development. Transnational economic cooperation can take many forms, such as free trade agreements, investment agreements, and regional integration agreements. Transnational economic cooperation has an important role in maximizing infrastructure development. In fact, infrastructure development can be accelerated if all parties collaborate closely. The economy taking place in border areas must be controlled with various profitable policies, both for producers, consumers and distributors. The government's main role in encouraging opportunities for transnational economic cooperation is to control the economy with various economic policies to make its citizens prosperous. Each form of cooperation has the same goal, namely to facilitate transnational business activities and also accelerate the process of trade liberalization. This article employs a form of literature review that includes hypotheses pertaining to the issue under investigation. This research discusses transnational economic cooperation, opportunities for transnational economic cooperation in border regions, and the challenges of transnational economic cooperation in border regions.
FINTECH AND FINANCIAL SERVICES TRANSFORMATION: POTENTIAL AND RISKS Erwin; Noorsidi Aizuddin Mat Noor; Widjanarko; Al-Amin
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 8 (2024): August
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The technological revolution of the last decade has significantly impacted the financial services industry, characterised by the rise of financial technology (fintech). Fintech has promised to increase accessibility of financial services, transactional efficiency and financial inclusion. However, this rapid growth also brings new risks and challenges that are not yet fully understood. The research method used in this study is literature. The results show that fintech has successfully changed the paradigm of financial services, integrating technologies such as AI, machine learning, and big data analytics to deliver faster, cheaper, and more personalised services. This has contributed to financial inclusion in many previously underserved areas. However, significant challenges such as cybersecurity risks, regulatory uncertainty, and operational risks are emerging as side effects of the rapid adoption of fintech. These risks demand serious attention, mitigation, and management from all decision makers in the industry.
MICROFINANCE AS A TOOL FOR ECONOMIC EMPOWERMENT OF THE UNDERPRIVILEGED Erwin; A.Hamid; Mohd Syahrin
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 8 (2024): August
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Microfinance is a financial service aimed at individuals or small businesses that typically do not have access to conventional banking and financial services. It aims to promote economic independence and reduce poverty by providing credit, savings, insurance, and other financial services to small businesses and low-income individuals. These services assist them in starting or expanding their businesses, increasing their income, and gradually improving their standard of living. The research method conducted in this study is the literature research method. The results of the literature review show that microfinance has significant potential in supporting entrepreneurial activities, increasing income, and reducing poverty. Furthermore, microfinance has proven to be effective in enhancing women's economic capacity, giving them access to financial resources that were previously unreachable. However, its effectiveness depends on a number of factors such as programme design, local economic conditions, and the level of financial literacy of the recipients. The research also identified several challenges, including the risk of over-indebtedness and financial instability for borrowers.
TAX AND COMMUNITY EMPOWERMENT: THE IMPACT OF TAX CUTS PROGRAMMES FOR VULNERABLE GROUPS Erwin; Loso Judijanto; Melyana R Pugu; Al-Amin; Hadenan Towpek
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 9 (2024): September
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Taxes and community empowerment are closely related in the context of tax cut programmes aimed at vulnerable groups. A tax cut is a reduction in tax burden granted by the government to certain individuals or groups to increase their disposable income. In vulnerable groups, which usually include low-income individuals, the elderly, and those in difficult economic conditions, tax cuts aim to reduce financial hardship and improve access to basic needs such as food, health, and education. The method used in this research uses the literature research method. The results show that the tax cut programme can significantly contribute to improving the welfare of vulnerable groups by increasing disposable income and reducing economic burden. However, the effectiveness of this programme is highly dependent on proper policy design, efficient implementation, and the government's ability to maintain fiscal balance. Focused and well-structured programmes tend to achieve better results in terms of community empowerment compared to generic or overly broad programmes. In addition, community involvement and transparency in programme implementation are also key factors in ensuring success and accountability. The study concludes that with proper planning and execution, tax deduction programmes can be an effective tool in empowering vulnerable groups and improving socio-economic welfare more broadly.
FINANCIAL RISK MANAGEMENT STRATEGIES FOR STARTUPS IN THE DIGITAL ERA Erwin; Teti Anggita Safitri; Alfiana; Mohd Syahrin
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 9 (2024): September
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Financial Risk Management Strategy for Startups in the Digital Age is an integrated approach used by startup companies to identify, mitigate, and manage financial risks arising in a dynamic digital environment. The strategy includes developing realistic budgets and financial projections, investing in cybersecurity and insurance, and diversifying revenue. The aim is to increase the company's resilience to market fluctuations and digital threats, and achieve sustainable business growth. The study conducted in this research uses the literature research method. The results show that there are three main strategies that can help startups manage financial risks. First, realistic budgeting and financial projections help startups monitor expenses and identify funding needs at each stage of development. Second, investing in adequate cybersecurity and insurance is crucial to protect business and customer data from digital threats and reduce potential financial losses due to data breaches or system failures. Thirdly, revenue diversification helps startups to be more resilient to market fluctuations, allowing companies to be more adaptive and proactive in managing risks.
PROMOTING GROWTH OF SOCIAL ENTREPRENEURSHIP: POLICY FOR SUPPORTING MICRO AND SMALL ENTERPRISES Pupung Purnamasari; Erwin; Andi Hafidah; Hadenan Towpek
INTERNATIONAL JOURNAL OF SOCIETY REVIEWS Vol. 2 No. 5 (2024): MAY
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Due to the fact that it creates new job openings and employment prospects, entrepreneurship is crucial to the nation's economy. Entrepreneurship naturally creates job chances for the unemployed, therefore anyone running a significant firm requires staff to assist in running their business. This is the relationship between entrepreneurship and economic growth. Micro and Small Enterprises are an important part of the country's economy because they have made a major contribution to boosting the economy, including their contribution in opening up new job opportunities as a spur to economic growth and as a source of innovation. The government and society have fully seen the role and contribution of MSE entrepreneurs. With a very large contribution to Gross Domestic Product (GDP), of course MSEs can demonstrate their role as the backbone of the economy. The research methodology employed in this work is library study, which consists of a number of tasks related to how to gather data from libraries, read and take notes, and process research materials. This research discusses the concept of entrepreneurship, the role of micro and small businesses, and micro and small business support policies.
CREATING COMMON PROSPERITY: ECONOMIC EMPOWERMENT POLICY FOR ALL Bayu Wijokongko; Erwin; Sulaiman
INTERNATIONAL JOURNAL OF SOCIETY REVIEWS Vol. 2 No. 5 (2024): MAY
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Economic empowerment is carried out to encourage, motivate and explore the potential of the community. That way, the condition of society will change from being helpless to being empowered. These empowerment efforts require support from various parties. Among them are the government and also non-governmental organizations. There is a goal of community economic empowerment that needs to be known, namely for the community to increase their income, solve the problems they face, and develop a system for accessing the necessary resources. The goal of community economic empowerment is to improve a community's quality of life, independence, and prosperity by addressing a variety of issues within that community. By granting more equitable access to financial resources and commercial possibilities, economic empowerment can contribute to the reduction of economic inequality. This study conducted an exploratory evaluation of the literature using a qualitative descriptive approach. Techniques for library research are used in the data collection process. This research discusses the definition and scope of economic empowerment, theories related to economic empowerment, economic empowerment policies, challenges and obstacles in implementing economic empowerment policies.
TAX AUDIT AND TAXPAYER COMPLIANCE Judijanto, Loso; S Pentanurbowo; Erwin; Al-Amin
INTERNATIONAL JOURNAL OF SOCIETY REVIEWS Vol. 2 No. 7 (2024): JULY
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Tax audits alone may not be effective enough in encouraging tax compliance without being supported by thorough tax education and the use of technology in the tax system. The research method used is the literature research method. The results show that tax audit has a deterrent effect on tax avoidance, but its effectiveness increases significantly when accompanied by tax education that provides knowledge and forms a positive attitude towards taxes. In addition, the integration of technology in the tax administration process makes it easier for taxpayers to fulfill their obligations, improving tax compliance through increased efficiency and transparency. Thus, success in improving tax compliance requires a combination of fair and consistent enforcement of regulations, informative and awareness-building education initiatives, and the development of a supportive technological infrastructure. The implications of these findings provide guidance for tax policy makers to design more effective strategies to improve tax compliance in the future.
TRANSFORMATIONAL LEADERSHIP IN IMPROVING PUBLIC ORGANISATION PERFORMANCE Erwin; Melyana R Pugu; Amândio de Araújo Sarmento; Al-Amin; Mohd Syahrin
INTERNATIONAL JOURNAL OF SOCIETY REVIEWS Vol. 2 No. 8 (2024): AUGUST
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Transformational leadership is a leadership style in which the leader inspires and motivates employees to exceed their expectations by creating a compelling long-term vision, promoting innovation, and embedding ethical values and integrity in the organisation's culture. In this leadership, leaders focus on the personal development of employees, empowering them to take initiative and think creatively, with the ultimate goal of improving organisational performance and adaptability in the face of challenges and change. The research method used is literature research method. The results of the literature analysis show that transformational leadership has various positive impacts on the performance of public organisations. First, transformational leaders are able to increase employee motivation and commitment through inspiring communication and providing positive feedback, which has an impact on increasing productivity and job satisfaction. Second, transformational leadership contributes to the development of a strong organisational culture, prioritising ethical values and integrity, which is important in improving accountability and transparency in the public sector. Third, transformational leaders make organisations more adaptive and responsive to change by empowering employees to think creatively and proactively.
LEGAL MANAGEMENT STRATEGIES IN THE BUSINESS ENVIRONMENT: A PRACTICAL APPROACH TO HANDLING LEGAL RISK Erwin; Amândio de Araújo Sarmento; Fuadah Johari
INTERNATIONAL JOURNAL OF SOCIETY REVIEWS Vol. 2 No. 8 (2024): AUGUST
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Abstract

In the era of globalisation and intense business competition, legal risk management is one of the main keys to ensuring the sustainability and success of a company. The study in this research uses the literature research method. The research found that the four strategies are interrelated and must be implemented simultaneously to achieve effective legal risk management. Firstly, the study revealed that the presence of a solid compliance programme is an important basis for identifying and managing legal risks. Next, it was found that technology integration helps in monitoring compliance and reacting to legal changes faster. Collaboration with legal and technology experts was found to not only provide access to specialised insights on the latest regulations, but also help in devising effective strategies to address legal risks. Finally, building a culture of compliance at all levels of the organisation is necessary to ensure successful implementation of legal strategies. The research concludes that, through the implementation of such a set of strategies, companies can reduce legal risks and their implications, help maintain reputation, and increase stakeholder trust. Hence, a comprehensive approach to legal risk management is necessary to facilitate sustainable business growth in an uncertain environment.
Co-Authors A.Hamid AA Sudharmawan, AA Abda Abda Abdul Azis Abdul Munif Abdul Syakur Abdul Wahab Syakhrani Abu Yazid Al Bustomi ADE SUPRIATNA Afnibar Agung Prasongko, Wahyu Ahmad Karim Ahmad Nouruzzamand Ahmad Zuhri Al-Amin Aldy Pradana Alfiana Alhadiansyah Alif Iqra Amanda Salwa Nur Azizah Amândio de Araújo Sarmento Amelia Rahmatika Andi Adli Saputra Andi Alvin Andi Cakra Yusuf Andi Fitriani Djollong Andi Hafidah Andi Muh. Iswan Andi Nur Halisa Andi Nur Wahyuningsih Andi Wahyuddin Nur Andriyani, Ria Andy Candra Aqifha Putri Ramadhani Arfiah Ari Sulistyo Rini ARIF HIDAYAT Arif Nur Sho’im Arisandi, Rumsiah Arizyanto, Romi Arsensius Asima Manurung Asriani Said Asyari Axelon S Renyaan Ayu Adwiniar Aryanti Batubara, Agnes Bayu Wijokongko Beny Saputra Bintoro, Januar Bistari Br Ginting, Julhanna Budhi Susetyo, Ferry Budi Hermawan Bangun Carles Chandra, Wenripin Clara Falisha Suardi Damayanti, Mira dame ifa sihombing Danny Faturachman, Danny Darussalam, Miftafu Denita Laura Devianty Lukman Dewi Wahyuni Mustafa Dianti, Devi Didik , Didik Didik Cahyono Didik Sugiyanto Diego Romario De Fretes Diko Januarhan Dimas Ari Wahyudi Dini Nurpratiwi Dolfina Costansah Koirewoa Dwiki , Dwiki Edi Indrizal Edy Suasono Elida, Sri Agustriani Elizabeth Siregar Emmi Azis Endah Rantau Itasari, Endah Endang Tri Pujiastuti Enita Dewi Tarigan Erma Hajrah Ermayanti Evi Mashunah Evi Purwanti Fadjeri, Indrayati Faidil Tanjung Fandi, Fandi Zahri Fasiha Fathra Annis Nauli Fatma Muthia Kinanti, Fatma Muthia Feby Nopriandy Feby Nopriandy Ferdiansyah, Farhan Fernando Fiza, Nora Fridarti Fuadah Johari Guntur Arie Wibowo Gusril Gusril Habel Ta’dung Hadenan Towpek Hafid Sumarwadji Hafrida Hafrida Haifa Syukur Hairil Abd Hajar Hairul Anwar Hajar Dewantara Halimatuddini Hamsyah Harry Febri Hartanto, Kristianus Heri HARTATI Harun Hasibuan, Citra Dewi Hellena Deli Hendri, Jhon Herawati, Elvina Herman Herry Susanto Hidayat, Faisal Hongki Julie Husnul Khatimah I Gusti Putu Muliarta Aryana I Ketut Suada Iman Syahrizal Imel Utami Pairunan Indra Hasan Indra Nuryanneti Ira Wahyuni Irawati Irma Fahrizal B.N. Irma Rosani Irmawanti Irna Irwandi, Ade Ismail Isranuri Isti Rokhiyah Ita Yulita, Ita Izza Rafi Jabaluddin Hamid Jaya Harjani, Haryanti Jeferson Siahaan Jonathan Liviera Marpaung Joni Joni Joni Juan Pratama Judijanto, Loso Kalimbuang, Irawanti Kusmiati, Evie Laila, Nurlaila Lenardo, Yovi Leo Dedy Anjiu Loso Judijanto LUCKY, MAYLANI Luluk Fikri Zuhriyah. M Zalnur M. Asraf Fradama M. Rafi Madya Saputri Maftuhah Maftuhah Magfirah Mahdalena Mahyudin Mahfud Radi Mahyuddin Maichal Malvin Dharma Mangenre, Muh. Fadli Manik, Ni Njoman Marpaung, J.L. Marpaung, Rony Genevent Marpaung, T.J. Marpaung, Tulus Joseph Herianto Masita Hayati, Intan Mega Fitri Hertini Melinda Noer Melinda Rantini Melva Hermayanty Saragih Miranty Moh. Ali Aziz Moh. Jenli Abbas Mohammad Ahmad Bani Amer Mohammad Alvian Noor Arya Mohd Syahrin Moriansyah, Mori Muh. Abdi Imam Muh. Irshan Sachrir Muhammad Alwi Hapri Muhammad Fachry Naufal, Fachry Muhammad Fauzan Muhammad Nadir Muhammad Shaleh Muhammad Shaleh Z Muhammad Yusuf Y.S Mujahidin Muliana Muliyana Munandar, Anis Mustopa Muthia Ferliani Balqis Navis Faiq Ngatemi Ni Wayan Sri Suliartini Nidya Agustin Beni Prasetyo Nira Mellina Pangestika Noorsidi Aizuddin Mat Noor Novendri, Yos Novizar Nazir Nur Hamzah Nur Laila Zulfah Sari Nurhikmah Nuris Asro'atul Hasanah Nurul Aisyah Nurul Aulia Rahma Nurwahyuni Oryza Sativa Heningtyas Palwa Suryani, Novia Pandayung, Risna Prasetyo, Ekky Aji Pudentiana Pudentiana Rr R. E. Pupung Purnamasari Purnama, Shilmy Putri Putri Salamah, Maydaria Rachmawati Rahayu, Siti Utari Rahmat Ghazali Rahmat Hidayat RAHMAT SYAHNI Rayhan Ichsan Rena Junita Renety Oktaviani Retno Ayu Widiyastuti Rico Fernanda Rina Febrianti Rismadefi - Woferst Rismawati Robin Rony M Rizal Rosman Siregar Rusmana, Ruslan Rusmin Nuryadin S Pentanurbowo Saban, Muhamad Zaki Sagio, Ibrahim Sahuri Lasmadi Saibun Sitorus Sakka Santoso, Pande Putu Agus Sapitri, Wahyuni Sardah Sawaluddin Setiono, Panut Simatupang, Mediniah Putri Simbolon, Angelika Sinar Dharmayana Putra Siregar, Rolan Sirenden, Sernita Siti Nur Hadijah Slamet Wiyono Sri Mulyani Sri Widiyastuti Sryanti St Salmah Sharon St. Nurhayati Aziz Suharlim, Edwin Suhendra sukma, Sukmawati Sulaiman Suminarti, Tini Sunarti, Herlina Susanto, Herry - Sutarman Sutriyanto Suwarno Suwendy Paku Sadewo syafrizal Syamsu Nujum Syamsuddin Syamsul Syarifah Nurul Fadilla Tahir, Dyah Tambunan, Herbert A. Taufik Teti Anggita Safitri, Teti Anggita Thomas, Silvester Thomy Sastra Atmaja Tulus Joseph Herianto Marpaung Tuti Afriani Ulfatmi Uli, Evawaty Usman Vera Puji Lestari Wahyu Maulid Adha Widia Dewi Anggraini Widia Lestari Widjanarko yefri chan Yendi Esye Yonathan Desmellson Situmorang Yuli Amaliyah Yulita yusuf, Febrianti Zihnil Afif Zulmuqim