Articles
<![CDATA[Deforestation-induced the EKC framework: The role of corruption control and trade openness in Southeast Asia ]]>
<![CDATA[Destiartono, Mohamad Egi]]>;
<![CDATA[Ekananda, Mahjus]]>
<![CDATA[ Jurnal Ekonomi & Studi Pembangunan Vol 24, No 1: April 2023 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/jesp.v24i1.16798
<![CDATA[Reducing the deforestation rate and formulating sustainable forest governance are still challenging for Southeast Asia. This empirical research intends to explore the dynamic connection between GDP, trade openness, corruption, and deforestation within the EKC framework by considering controls over agriculture and population. This article uses panel data from nine countries from 1996 to 2018. Pooled Mean Group (PMG) procedure and Dumitrescu-Hurlin (DH) causality tests were applied to examine the variables’ long-term relationships and the direction of the causality. This article also features the unit root and cointegration tests. The estimation supports the EKC hypothesis that the nexus between economic growth and deforestation forms an inverted-U curve. The turning point of the per capita GDP is USD 26785, i.e., the advanced stage of development. Other findings are that trade openness is a driver of deforestation, while control of corruption is an effective instrument to reduce the deforestation rate in the long run. Deforestation will still occur in Southeast Asia because only Brunei Darussalam has passed the turning point. However, implementing development programs while reducing the deforestation rate can be done because the bidirectional causality between GDP and deforestation is not confirmed. Improving trade regulations and governance is a necessary scheme to reduce deforestation rates in the future.]]>
<![CDATA[Dynamization Analysis of Capital Inflow, Credit Allocation, and Banking Performance using Panel Vector Autoregressive ]]>
<![CDATA[Ekananda, Mahjus]]>
<![CDATA[ Jurnal Ekonomi & Studi Pembangunan Vol 23, No 2: October 2022 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/jesp.v23i2.16014
<![CDATA[The direction of globalization and the integration of the financial system continue to increase, in line with the increasing capital flows, which is the focus of discussion in this research. This study applies panel data analysis to analyze banking behavior in order to improve its performance. The analysis uses panel data from 1991 to 2020 in 39 countries. Return on Equity (ROE) as a measure of the success of banking operations is determined by various interrelated factors. One of the variables closely related to banking performance is the share of non-financial business loans, the share of capital inflows entering the banking sector, and the share of capital inflows entering the non-bank sector. Economic variables that support good banking performance are GDP growth, bank concentration, inflation, leverage, and bank efficiency. This article applies a Panel Vector Autoregressive to capture the dynamization, and heterogeneity. The most exciting results were obtained by dividing the sample into subgroups, which helped the researcher understand each regime's different roles and transmissions. The changes in capital inflows to the non-bank sector will significantly reduce ROE and increase leverage for the next five periods. The results of the study imply that nowadays, bank managers should be aware while the changes in capital inflows change very quickly. Bank managers in countries with high capital inflows must always be aware of changes in capital inflows to the non-bank sector—steps to bank management by diversifying sources of funds efficiently from other parties in the transmission of credit channel.]]>
<![CDATA[Analisa Pengaruh Foreign Direct Investment terhadap Nilai Tambah Industri Pengolahan di Indonesia ]]>
<![CDATA[Azwin Alfarizsy, Ahmad]]>;
<![CDATA[Ekananda, Mahyus]]>
<![CDATA[ Bahtera Inovasi Vol 8 No 1 (2024): Jurnal Bahtera Inovasi ]]>
Publisher : <![CDATA[Program Studi Manajemen FEBM UMRAH ]]>
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DOI: 10.31629/gtw61e31
<![CDATA[This study aims to measure the effect of Foreign Direct Investment to value-added of manufacturing industry in Indonesia. This study uses data from 24 manufacturing sub-sectors according to the Indonesian Standard Industrial Classification. The data used in this study are: FDI and PMDN realization data (sourced from BKPM); data of value added, labor, fixed capital, production input costs and labor expenditures (sourced from Central Bureau of Statistic). The estimation method used is Feasible Generalized Least Square with Fixed Effect, with a period of years from 2009 to 2019. The results of this study indicate that FDI and several related variables have a significant positive effect on the value added of the manufacturing industry in Indonesia.]]>
<![CDATA[Analisa Pengaruh Rasio Keuangan Terhadap Pertumbuhan Harga Saham Bank Buku IV Yang Terdaftar Di Bursa Efek Indonesia ]]>
<![CDATA[Fralus Dolfy Ellyson]]>;
<![CDATA[Mahjus Ekananda Sitompul]]>;
<![CDATA[Etty Puji Lestari]]>
<![CDATA[ Cakrawala Repositori IMWI Vol. 6 No. 4 (2023): Cakrawala Repositori IMWI ]]>
Publisher : <![CDATA[Institut Manajemen Wiyata Indonesia & Asosiasi Peneliti Manajemen Indonesia ]]>
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DOI: 10.52851/cakrawala.v6i4.409
<![CDATA[Research on the effect of financial ratios on stock prices has been carried out on various research objects, but specifically examining the effect of financial ratios specifically on the growth of BUKU IV bank stock prices has never been done so that research is needed to reveal what the effect of financial ratios consisting of Net Profit Margin ( NPM), Return On Equity (ROE), Debt to Equity Ratio (DER) and Current Ratio (CR) to the growth of BUKU IV bank stock prices. The research sample was taken from banking companies in the BUKU IV category as many as 7 companies that have been listed on the Indonesia Stock Exchange for the period 2017 to 2019. The sampling method was purposive sampling using secondary data in the form of quarterly financial reports published through the Indonesia Stock Exchange website. The data were analyzed using the E-views econometrics program version 10. through the estimation stages of panel data regression model selection, normality test, heteroscedasticity test, multicollinearity test and then hypothesis testing. The results showed that partially Net Profit Margin (NPM) and Debt to Equity Ratio (DER) had a significant effect on stock price growth, while Return On Equity (ROE) and Current Ratio (CR) did not. significant effect on the growth of BUKU IV bank stock prices. However, simultaneously Net Profit Margin (NPM), Return On Equity (ROE), Debt to Equity Ratio (DER) and Current Ratio (CR) have no effect on the growth of BUKU IV bank stock prices, so there are other independent variables that are not included in the study which affect the growth of stock prices.]]>
<![CDATA[Pengaruh Kinerja Keuangan, Tingkat Inflasi Dan Pertumbuhan PDB Terhadap Harga Saham Perusahaan Property Dan Real Estate Di Bursa Efek Indonesia (BEI) Periode 2013-2019 ]]>
<![CDATA[Siti Nurlaila]]>;
<![CDATA[Mahjus Ekanandra]]>;
<![CDATA[Etty Puji Lestari]]>
<![CDATA[ Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 3 (2024): Journal of Economic, Bussines and Accounting (COSTING) ]]>
Publisher : <![CDATA[Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE) ]]>
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DOI: 10.31539/costing.v7i4.8509
<![CDATA[Laju pertumbuhan Indeks Harga Saham Gabungan (IHSG) di era teknologi mengalami pertumbuhan yang cepat, menunjukkan saham sebagai salah satu pilihan tempat yang tepat untuk berinvestasi. Penelitian ini bertujuan untuk menguji pengaruh kinerja keuangan yang diukur dengan Earning Per Share, Price Earning Ratio, dan Return On Equity serta tingkat inflasi dan pertumbuhan GDP terhadap harga saham. Jenis penelitian ini bersifat kuantitatif. Jenis data yang digunakan adalah data sekunder. Populasi dalam penelitian ini adalah perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2013-2019. Teknik pengambilan sampel yang digunakan dalam penelitian ini menggunakan metode purposive sampling yang terdaftar. Terdapat 18 perusahaan dengan 126 observasi sebagai sampel. Berdasarkan nilai probabilitas menunjukkan bahwa PER, ROE, dan pertumbuhan GDP memiliki hubungan positif dan pengaruh yang signifikan terhadap harga saham. Di sisi lain, EPS dan inflasi memiliki pengaruh yang tidak signifikan terhadap harga saham. Hal ini menunjukkan bahwa fluktuasi inflasi dan analisis fundamental tidak lagi menjadi pertimbangan bagi investor dalam mengambil keputusan investasi. Kata kunci : Earning Per Share, Price Earning Ratio, Return On Equity, tingkat inflasi, pertumbuhan PDB, harga saham]]>
<![CDATA[ANALISIS STRATEGI PT. TELEKOMUNIKASI INDONESIA, TBK MENGHADAPI PERSAINGAN GLOBAL ]]>
<![CDATA[Setyowati, Erlina Nur’aini]]>;
<![CDATA[Ekananda, Mahjus]]>;
<![CDATA[Mubarok, Faizul]]>
<![CDATA[ Jurnal Ilmiah Ekonomi Bisnis Vol 29, No 3 (2024) ]]>
Publisher : <![CDATA[Universitas Gunadarma ]]>
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DOI: 10.35760/eb.2024.v29i3.11044
<![CDATA[The significant contribution of information and communication technology (ICT) to Indonesia's economic growth, surpassing the national GDP growth rate. This growth is attributed to strategic determinations made by companies considering both internal and external factors. The study aims to analyze these influences on PT. Indonesian Telecommunications' competitive strategy to enhance competitiveness. Employing quantitative descriptive research, it utilizes Internal Factor Evaluation (IFE) and External Factor Evaluation (EFE) matrices. Primary and secondary data were collected through purposive and snowball sampling techniques, involving employees of PT. Telekomunikasi Indonesia, Tbk. Data collection methods included questionnaires and secondary data from company archives and statistical sources. SWOT analysis, IFE, and EFE methods were applied, revealing PT. Telekomunikasi Indonesia, Tbk's adeptness in leveraging strengths, addressing weaknesses, seizing opportunities, and mitigating threats. IFE and EFE scores averaged 3.44 and 3.15 respectively, indicating an aggressive growth stance. Positioned favorably, the company is poised for expansion and heightened growth amidst global competition.]]>
<![CDATA[Analysis of Indonesia's Non-Oil and Gas Export Potential with Non- Traditional Countries ]]>
<![CDATA[Toengkagie, Reysa Rachmat]]>;
<![CDATA[Ekananda, Mahjus]]>
<![CDATA[ JMM17 : Jurnal Ilmu ekonomi dan manajemen Vol 11 No 2 (2024): September 2024 ]]>
Publisher : <![CDATA[Universitas 17 Agustus 1945 Surabaya ]]>
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DOI: 10.30996/jmm17.v11i2.11736
<![CDATA[This study aims to test the hypothesis regarding the effect of HRM Practices, Positive Emotions, and Knowledge Management on Employee Engagement, as well as the effect of Employee Engagement on Talent Retention in the Oil and Gas industry in Indonesia. This study uses a causal relationship model with a cross-sectional data method. It involves employees from PT Donggi Senoro LNG (DSLNG), JGC Indonesia (JIND), JOB Pertamina Medco E&P Tomori Sulawesi (JOB Group), and other Oil and Gas companies. Data was collected through questionnaires distributed via WhatsApp and Instagram using a purposive sampling technique. Data testing was carried out with validity and reliability tests, and analyzed using Structural Equation Modeling (SEM) with the AMOS application. The results showed that HRM Practices had no positive effect on Employee Engagement. However, Positive Emotions and Knowledge Management have a positive effect on Employee Engagement. In addition, Employee Engagement has a positive effect on Talent Retention. Thus, it can be concluded that Positive Emotions and Knowledge Management play an important role in increasing Employee Engagement, which in turn increases Talent Retention in the Oil and Gas industry in Indonesia.]]>
<![CDATA[Pengaruh Financial Knowledge, Financial Behavior dan Financial Attitude Terhadap Keputusan Investasi Pembelian Rumah Oleh Generasi Z ]]>
<![CDATA[Pattinaya, Lupi]]>;
<![CDATA[Ekananda, Mahjus]]>;
<![CDATA[Mukyanto, Ali]]>
<![CDATA[ Journal of Accounting and Finance Management Vol. 6 No. 1 (2025): Journal of Accounting and Finance Management (March - April 2025) ]]>
Publisher : <![CDATA[DINASTI RESEARCH ]]>
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DOI: 10.38035/jafm.v6i1.1608
<![CDATA[Penelitian ini bertujuan untuk mengkaji keputusan investasi pembelian rumah oleh generasi Z dari perspektif financial knowledge, financial behavior, dan sikap financial attitude. Dalam penelitian ini digunakan pendekatan kuantitatif untuk menguji hubungan antar variabel-variabel tersebut terhadap keputusan investasi pembelian rumah. Populasi penelitian ini adalah generasi Z di Indonesia dengan sampel yang diambil dari kawasan Jabodetabek (Jakarta, Bogor, Depok, Tangerang, Bekasi). Pengambilan sampel dilakukan menggunakan metode purposive sampling berdasarkan kriteria tertentu, yaitu responden harus merupakan generasi Z yang berdomisili di Jabodetabek dan memiliki penghasilan yang cukup untuk melakukan investasi pembelian rumah. Jumlah sampel yang digunakan dalam penelitian ini adalah 120 menggunakan teknik sampling (J. Hair & Alamer, 2022). Dalam penelitian ini, anlisis data dilakukan menggunakan perangkat lunak SmartPLS 3 dengaìn pendekatan Structural Equation Modelling – Partial Least Square (SEM-PLS). Tahap pertama menyusun dimensi dan indikator untuk mengukur masing-masing variabel yang di teliti. Tahap kedua membuat kuisioner penelitian menggunakan google form dan dilakukan penyebaran kepada responden. Hasil penelitian financial attitude berpengaruh terhadap keputusan investasi pembelian rumah, financial behavior tidak berpengaruh terhadap keputusan investasi pembelian rumah dan financial knowledge berpengaruh terhadap keputusan investasi pembelian rumah. Penelitian ini penting dilakukan untuk menjadi acuan Gen Z untuk berinvestasi.]]>
<![CDATA[Corruption, public debt, political years, and economic growth in democratic developing countries ]]>
<![CDATA[Rida Srihadiastuti]]>;
<![CDATA[Mahjus Ekananda]]>
<![CDATA[ Integritas: Jurnal Antikorupsi Vol. 10 No. 2 (2024): INTEGRITAS: Jurnal Antikorupsi ]]>
Publisher : <![CDATA[Komisi Pemberantasan Korupsi ]]>
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DOI: 10.32697/integritas.v10i2.1264
<![CDATA[This study investigates the impacts of political corruption and public debt on the economic progress of 43 democratic developing countries that have experienced varying election cycle frequencies from 2002 to 2021. The research utilizes a PMG-ARDL method and relies on data from the World Bank and International Monetary Fund (IMF). The results show that although corruption can generate ‘temporary’ benefits, it ultimately hinders long-term economic development. Our analysis also compares the impact by grouping countries based on different frequencies of election years, referred to as ‘political years’. In the group of countries with a ‘high’ frequency of political years, the impact of corruption is more detrimental than in the group of countries with a ‘low’ frequency. To anticipate the negative effects of corruption and ensure that the allocation of development funds is on target, we recommend: 1) improving the governance system to minimize corruption; 2) measuring corruption with new, more concrete indicators, not just the perception index; 3) implementing changes to the tax payment mechanism, as direct public control over budget allocations are often inefficient and leaky; and 4) improving the effectiveness of the campaign mechanism to prevent corruption by electoral candidates.]]>
<![CDATA[Dynamic of Economic Motives of Indonesia’s Migrant Workers’ Remittances ]]>
<![CDATA[As'ad, As'ad]]>;
<![CDATA[Ekananda, Mahjus]]>
<![CDATA[ Jurnal Ekonomi & Studi Pembangunan Vol. 25 No. 2: October 2024 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta ]]>
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DOI: 10.18196/jesp.v25i2.22610
<![CDATA[This study investigates empirical evidence regarding the economic motives underlying remittances from Indonesian migrant workers. Economic motives play a crucial role in remittances behavior, as they determine the amount of money workers send to their families in their home country based on various economic indicators. Although extensive research exists on this topic, there remains no definitive consensus about the economic motivations behind migrant workers’ remittances. This research provides additional perspectives on these economic motives, particularly in the Indonesian context. Using a fixed effects model to overcome individual effect bias, this study finds evidence of investment motives in Indonesian’s migrant workers’ remittances. However, these findings are contingent upon Indonesia’s economic condition. The motivations tend to be individualistic during periods of economic stability and altruistic during economic uncertainty. The knowledge gained from understanding these economic motives can help related parties formulate strategies for economic activities involving migrant workers' remittances in accordance with Indonesia's economic conditions.]]>
