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The Effect of Profitability, Liquidity, and Leverage Ratio on Stock Prices in the State-Owned Banking Sector in Indonesia Putri Azizah Sahirah; Citra Ayni Kamaruddin; Sri Astuty; Regina Regina; Basri Bado
International Journal of Economics, Commerce, and Management Vol. 3 No. 1 (2026): International Journal of Economics, Commerce, and Management
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62951/ijecm.v3i1.1127

Stocks represent a capital market instrument with the potential to generate high returns. When making investment decisions, investors typically assess various internal aspects of a company, including its financial performance. The objective of this study is to examine the influence of profitability, liquidity, and leverage ratios on stock prices in the Indonesian banking sector, with a particular focus on state-owned banks, in both partial and simultaneous regression models. The methodology employed is quantitative analysis, with a secondary data set being utilized. The sample was determined using a purposive sampling technique, covering four state-owned banks (BRI, BNI, Mandiri, and BTN) for the 2010-2024 period. The findings of the analysis demonstrate that profitability and leverage exert a substantial negative influence on the stock prices of these banking institutions, while the liquidity ratio does not demonstrate a significant effect. Concurrently, all three variables exert an influence on stock prices, with an R-squared value of 58%.

The Effect of Interest Rates, Exchange Rates, and Coffee Production on Coffee Export Value in South Sulawesi Dwifani Syuhra Ritonga; Sri Astuty; Abdul Rajab; Irwandi Irwandi; Muhammad Syafri
International Journal of Economics and Management Sciences Vol. 3 No. 1 (2026): February : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i1.1146

This study aims to analyze the influence of interest rates, exchange rates, and coffee production on the value of coffee exports in South Sulawesi. The background of this study is based on the condition of South Sulawesi coffee exports which have experienced significant fluctuations in recent years despite coffee production tending to increase. This study uses a quantitative approach with time series data for the period 2009-2023 sourced from the World Bank, International Monetary Fund and the Directorate General of Plantations, the Food Crops, Horticulture and Plantation Service of South Sulawesi Province. Data analysis was conducted using multiple linear regression through the EViews 12 application with the classical assumption test as a model prerequisite. The results show that partially interest rates have a significant effect on coffee exports, while exchange rates and coffee production do not have a significant effect. Simultaneously, the three independent variables do not have a significant effect on the value of coffee exports. This finding indicates that external factors, especially interest rates, are more dominant in determining the performance of South Sulawesi coffee exports than internal factors of production and exchange rates.

Analysis of Factors Influencing Exports in 5 ASEAN Countries Using a Moderation Approach Andi Isra’ Amalia; Sri Astuty; Abdul Rajab; Muhammad Syafri; Irwandi Irwandi
International Journal of Economics and Management Sciences Vol. 3 No. 1 (2026): February : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i1.1153

This study investigates the factors influencing export performance in five ASEAN countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand during the 2014-2023 period. The topic is highly relevant given the vital role of exports in sustaining monetary stability and promoting long-term economic growth. The novelty of this research lies in its integrated approach, which simultaneously examines key export-related macroeconomic variables, namely foreign direct investment and inflation, while incorporating foreign exchange reserves as a moderating variable an approach that remains limited in existing ASEAN-focused studies. This analysis uses secondary data obtained from the World Bank and processed using panel data regression methods, including the Common Effect Model, Fixed Effect Model, and Random Effect Model, strengthened by a Moderated Regression Analysis (MRA) approach. The results show that foreign direct investment and inflation significantly influence foreign exchange reserves. Furthermore, foreign exchange reserves have been shown to play a strategic role in strengthening the economic resilience of ASEAN countries and can be used as a reference in formulating monetary and international trade policies.

Analysis of the Effect of Inflation and Per Capita Income on Household Consumption Expenditure in South Sulawesi Province Lestari, Dini Indah; Basri Bado; Sri Astuty; Irwandi; Shadry Andriani
International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v5i1.1843

This study aims to analyze the effect of inflation and per capita income on household consumption expenditure in South Sulawesi Province for the period 2015–2024. The research method used is a quantitative approach with a panel data regression model, using secondary data from the Central Statistics Agency (BPS) covering 12 districts/cities. The results of the Chow and Hausman test indicate that the most appropriate model to use is the Fixed Effect Model (FEM). The results of the regression analysis show that inflation has no significant effect on household consumption expenditure, while per capita income has a significant effect on household consumption expenditure. Simultaneously, both variables have a significant effect on household consumption with an Adjusted R² value of 50.72%, meaning that variations in consumption expenditure can be explained by inflation and per capita income. These findings indicate that increasing community income is the main factor driving consumption, while stable inflation helps maintain purchasing power and household economic balance in South Sulawesi

Tourism Development Strategy to Increase Local Original Income (PAD) in Bulukumba Regency Nurmi Nurmi; Basri Bado; Citra Ayni Kamaruddin; Sri Astuty; Muhammad Imam Maruf
International Journal of Economics, Commerce, and Management Vol. 3 No. 2 (2026): International Journal of Economics, Commerce, and Management
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62951/ijecm.v3i2.1186

This study examines the tourism development strategy to increase Local Original Revenue (PAD) in Bulukumba Regency, South Sulawesi. Despite having significant tourism potential, such as Bira Beach and the Pinisi shipbuilding tradition, the contribution of the tourism sector to PAD remains fluctuating and has not been fully optimized. Therefore, this study aims to formulate an effective and targeted tourism development strategy. The research employs a quantitative descriptive approach using observation, Likert-scale questionnaires, and documentation, with data analyzed through SWOT analysis, IFAS-EFAS matrices, and the Grand Strategy Matrix. The findings indicate that the tourism sector has strong internal strengths (5,09) and significant external opportunities (4,99), exceeding its weaknesses (4,56) and threats (3,95), placing it in Quadrant I (aggressive strategy). The results suggest that the most appropriate strategy is the SO (Strengths-Opportunities) strategy, which focuses on optimizing tourism potential, enhancing digital promotion, strengthening cultural-based tourism, and expanding investment in infrastructure. The study concludes that implementing an aggressive and integrated strategy can improve the tourism sector’s contribution to PAD and support regional economic development. These findings highlight the importance of aligning tourism potential with strategic planning to achieve sustainable fiscal growth.

The Effect of The Number of Msmes, The Number of Buildings and Grdp on City District Tax Revenue in South Sulawesi Province Nur Alif Sapoetra; Abd. Rahim; Citra Ayni Kamaruddin; Sri Astuty; Abdul Rajab
International Journal of Economics and Management Sciences Vol. 3 No. 2 (2026): May : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i2.1221

This research investigates the effect of the amount of MSMEs, the number of buildings, and GRDP on regional tax revenue in selected cities and regencies in South Sulawesi, driven by the inconsistency between the growth of economic potential and the realization of tax revenue, where increases in MSMEs, buildings, and GRDP are not always followed by higher tax receipts. The study aims to analyze the effect of these variables and identify the most significant factors contributing to regional fiscal capacity. A quantitative approach is employed using panel data that combine time series and cross-sectional data from 2015-2024, analyzed through panel data regression with model selection based on Chow, Hausman, and Lagrange Multiplier test. The results show that partially, MSMEs and the number of buildings do not have a significant effect on tax revenue, while GRDP has a positive significant impact; however, simultaneously, all variables significantly influence tax revenue, as indicated by a high Adjusted R-squared value. These findings suggest that economic growth, as proxied by GRDP, plays a more dominant role in increasing tax revenue compared to the mere increase in the number of MSMEs and buildings, implying that optimizing tax revenue requires not only expanding economic potential but also enhancing tax compliance, administrative efficiency, and the quality of economic growth.

PENGARUH PERTUMBUHAN EKONOMI DAN INDEKS PEMBANGUNAN MANUSIA TERHADAP KEMISKINAN DI SULAWESI SELATAN Mutaharatul Uhra; Sri Astuty; Muh Jamil; Irwandi Irwandi; Abdul Rajab
Promosi: Jurnal Program Studi Pendidikan Ekonomi Vol 14, No 1 (2026): Promosi
Publisher : UNIVERSITAS MUHAMMADIYAH METRO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24127/jp.v14i1.16692

Kemiskinan merupakan permasalahan kompleks yang dihadapi oleh berbagai daerah di Indonesia termasuk di Sulawesi Selatan. Pertumbuhan ekonomi sering dianggap sebagai faktor utama dalam menurunkan kemiskinan, sementara Indeks pembangunan manusia mencerminkan kualitas sumber daya manuisa yang berperan dalam meningkatkan kesejahteraan masyarakat. Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan ekonomi dan indeks pembangunan manusia terhadap kemiskinan.penelitian ini menggunakan data sekunder dari Badan Pusat Statistik (BPS) dengan pendekatan kuantitatif. Analisis data yang digunakan dalam penelitian ini adalah model regresi linier berganda. Hasil penelitian ini menunjukkan bahwa pertumbuhan ekonomi tidak memiliki pengaruh yang signifikan terhadap tingkat kemiskinan. Sebaliknya, Indeks Pembangunan Manusia memiliki pengaruh yang signifikan terhadap tingkat kemiskinan di Sulawesi Selatan. Oleh karena itu, upaya penanggulangan kemiskinan sebaiknya lebih difokuskan pada peningkatan kualitas sumber daya manusia melalui perbaikan di sektor pendidikan, kesehatan, dan standar hidup. Kebijakan pembangunan yang berorientasi pada peningkatan IPM dinilai lebih efektif dalam menurunkan tingkat kemiskinan dibandingkan hanya mengandalkan pertumbuhan ekonomi semata.

PENGARUH PERTUMBUHAN EKONOMI DAN INDEKS PEMBANGUNAN MANUSIA TERHADAP KEMISKINAN DI SULAWESI SELATAN Mutaharatul Uhra; Sri Astuty; Muh Jamil; Irwandi Irwandi; Abdul Rajab
Promosi: Jurnal Program Studi Pendidikan Ekonomi Vol 14 No 1 (2026): Promosi
Publisher : UNIVERSITAS MUHAMMADIYAH METRO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24127/jp.v14i1.16692

Kemiskinan merupakan permasalahan kompleks yang dihadapi oleh berbagai daerah di Indonesia termasuk di Sulawesi Selatan. Pertumbuhan ekonomi sering dianggap sebagai faktor utama dalam menurunkan kemiskinan, sementara Indeks pembangunan manusia mencerminkan kualitas sumber daya manuisa yang berperan dalam meningkatkan kesejahteraan masyarakat. Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan ekonomi dan indeks pembangunan manusia terhadap kemiskinan.penelitian ini menggunakan data sekunder dari Badan Pusat Statistik (BPS) dengan pendekatan kuantitatif. Analisis data yang digunakan dalam penelitian ini adalah model regresi linier berganda. Hasil penelitian ini menunjukkan bahwa pertumbuhan ekonomi tidak memiliki pengaruh yang signifikan terhadap tingkat kemiskinan. Sebaliknya, Indeks Pembangunan Manusia memiliki pengaruh yang signifikan terhadap tingkat kemiskinan di Sulawesi Selatan. Oleh karena itu, upaya penanggulangan kemiskinan sebaiknya lebih difokuskan pada peningkatan kualitas sumber daya manusia melalui perbaikan di sektor pendidikan, kesehatan, dan standar hidup. Kebijakan pembangunan yang berorientasi pada peningkatan IPM dinilai lebih efektif dalam menurunkan tingkat kemiskinan dibandingkan hanya mengandalkan pertumbuhan ekonomi semata.

Determinan Pertumbuhan Ekonomi di Berbagai Wilayah di Indonesia: Pendekatan Data Panel dan Analisis Jalur ananda_ainahs Mutiara Saing; Abd. Rahim; Muhammad Syafri; Abdul Rajab; Sri Astuty
JDEP (Jurnal Dinamika Ekonomi Pembangunan) Vol. 9 No. 2 (2026): JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Publisher : UPN "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jdep.v9i2.1099

Pertumbuhan ekonomi merupakan indikator utama dalam menilai keberhasilan pembangunan suatuwilayah. Namun, pertumbuhan ekonomi di Indonesia masih menunjukkan disparitas antar wilayah yangdipengaruhi oleh berbagai faktor struktural. Penelitian ini bertujuan untuk menganalisis pengaruhdesentralisasi fiskal dan ketimpangan wilayah terhadap pertumbuhan ekonomi dengan IndeksPembangunan Manusia (IPM) sebagai variabel mediasi. Penelitian ini menggunakan data panel dari limaprovinsi di Indonesia yaitu DI Yogyakarta, Kalimantan Timur, Sulawesi Selatan, Sumatera Selatan, danPapua selama periode 2015–2024. Metode analisis yang digunakan adalah regresi data panel dan analisisjalur (path analysis). Hasil penelitian menunjukkan bahwa desentralisasi fiskal berpengaruh positifterhadap pertumbuhan ekonomi, sedangkan ketimpangan wilayah berpengaruh negatif. Namun, IPM tidakmampu memediasi hubungan tersebut secara signifikan. Temuan ini menunjukkan bahwa peningkatankapasitas fiskal daerah belum sepenuhnya diikuti oleh peningkatan kualitas pembangunan manusia yangberdampak pada pertumbuhan ekonomi. Oleh karena itu, diperlukan kebijakan yang lebih terintegrasiantara pengelolaan fiskal dan pembangunan sumber daya manusia.

Bahasa Inggris Nurul Muhliza; Abd. Rahim; Citra Ayni Kamaruddin; Sri Astuty; Irwandi Irwandi
Jurnal Wacana Ekonomi Vol 25 No 1 (2025): Jurnal Wacana Ekonomi
Publisher : Fakultas Ekonomi Universitas Garut

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52434/jwe.v25i1.43008

This quantitative research aims to analyze the influence of Government Expenditure in the Education Sector, Health Sector, and Minimum Wage (UM) on Poverty in five districts with the highest poverty rates in South Sulawesi Province (Pangkep, Jeneponto, Luwu, North Luwu, and Enrekang), utilizing annual panel data spanning the 2015 to 2024 period. Through a series of model tests, the Fixed Effect Model (FEM) estimated using the Least Square Dummy Variable (LSDV) approach was determined as the best method. The estimation results show that simultaneously, the three independent variables significantly affect poverty, with the model's explanatory power (Adjusted R-Squared) reaching 77.4%. However, the partial results (t-test) reveal that only the Minimum Wage variable has a negative and significant influence in reducing poverty (Prob. 0.0079). Conversely, although Government Expenditure in the Education Sector has a positive coefficient (Prob. 0.9123) and the Health Sector has a negative coefficient (Prob. 0.4973), both are not statistically significant in influencing poverty reduction. This study concludes that policy intervention through setting adequate wages is the most effective tool in poverty alleviation efforts in the research area, while the effectiveness of public spending in the education and health sectors requires further review to ensure its long-term impact.

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