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The Influence of Internal Factors and Interest Rates on State-Owned Enterprise Credit Distribution Gusanto, Priskilla Annetta Amanda; Sakti, Rachmad Kresna
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 2 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to analyze the effect of internal bank factors and Loan interest rates on credit distribution of state-owned banks in Indonesia during the period 2020–2025. The study is motivated by the suboptimal credit growth in the post-Covid-19 period despite adequate banking liquidity and government fund placement policies. The variables include Loan interest rates, Loan to Deposit Ratio (LDR), Operating Expenses to Operating Income (BOPO), and Capital Adequacy Ratio (CAR) as independent variables, and credit distribution as the dependent variable. This research employs a quantitative approach using the Autoregressive Distributed Lag (ARDL) model based on monthly time series data obtained from the Financial Services Authority (OJK). The long-run estimation results indicate that Loan interest rates have a positive and significant effect on credit distribution, while LDR and BOPO have a negative and significant effect. Meanwhile, CAR has a negative but insignificant effect. These findings suggest that in the long run, operational efficiency and liquidity management are key determinants of credit distribution, while capital adequacy is not a dominant factor. This study is expected to provide insights for policymakers and banking institutions in formulating more effective strategies to enhance financial intermediation and support economic recovery.
ANALISA PENGARUH JUMLAH TENAGA KERJA, NILAI EKSPOR DAN NILAI INVESTASI PADA INDUSTRI PENGOLAHAN TERHADAP PERTUMBUHAN EKONOMI DI KABUPATEN LUMAJANG Kurniawati, Vina; Pudjihardjo, M.; Sakti, Rachmad Kresna
Jurnal Ilmu Ekonomi dan Pembangunan Vol 18, No 1 (2018): Jurnal Ilmu Ekonomi dan Pembangunan
Publisher : EP FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jiep.v18i1.17628

Abstract

The processing industry has become one of the supporters of the regional economy. This is shown from several studies and studies which states that the processing industry is the second largest passenger of GRDP after the primary sector. This study aims to influence the amount of labor, export value and investment value of wood processing industry and food processing industry in Lumajang regency with observation period from 2002 until 2016. This research model uses quantitative descriptive analysis with panel data regression research method. The estimation model used is fixed effect model for both processing industries. Sample data obtained by using purposive sampling method, where data retrieval is based on certain criteria.The result of research with t test shows that the amount of labor, export value and investment value in wood processing industry have positive and significant influence to economic growth. For the food processing industry, the amount of labor is negative and does not affect the economic growth, while the value of exports and investment value have a positive and significant impact on economic growth. Could be this is because the investment in food processing industry is intended to increase capital goods or equipment, thus affecting the reduction in the number of labor. Through the test f, all independent variables in the two processing industries simultaneously together influence the dependent variable. Keywords: Economic Growth, Processing Industry, Labor, Export, InvestmentJEL Classification: O1, O47
The Influence of Internal and External Factors on the Stock Returns of Idx30 for the 2019-2023 Period Prameswari, Rania; Sakti, Rachmad Kresna
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2026.05.1.15

Abstract

Climate change, sustainability demands, and global economic instability encourage investors to consider internal and external aspects in investment decisions. This study aims to analyze the influence of internal factors including Environment, Social, Governance performance through ESG Score, net income, ROA, EPS, and DPS, as well as external factors in the form of inflation, BI rate, and economic growth on the stock returns of companies incorporated in the IDX30 index for the 2019-2023 period. This research uses a quantitative approach with the panel data regression method. The data used is obtained from company financial reports, sustainability reports, and official macroeconomic data. Stock returns are calculated based on annual capital gains. The statistical test results show that Environment score, inflation, BI rate, Price Earning Ratio, and net income have a significant influence on stock returns, while Social and Governance score, ROA, EPS, DPS, and economic growth are not partially significant, but simultaneously significant. . These findings suggest that environmental sustainability factors, financial performance, and macroeconomic conditions need to be the main considerations in investment strategies in the Indonesian stock market. This research is expected to contribute to investors, issuers, regulators, and academics in understanding the dynamics of the stock market under current economic conditions.
Determinants of Economic Growth in Five Countries With the World Highest Population Putri, Naswa Berliana; Sakti, Rachmad Kresna
Journal of Development Economic and Social Studies Vol. 5 No. 3 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Economic growth is an important indicator in describing the increase in a country’s output, especially in countries with the highest populations in the world, namely India, China, United States, Indonesia, and Pakistan. This study aims to analyze the effect of corruption control, digital technology, education, investment, capital accumulation, and trade openness on economic growth during the 2013-2023 period using panel data regression. The results show that control of corruption, digital technology, and capital accumulation have a positive and significant effect on economic growth, while education, investment, and trade openness do not show a significant effect. These findings confirm that strengthening institutional quality, utilizing digital technology, and increasing capital accumulation remain key factors in driving economic growth in countries with large populations.