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The Nexus Between Financial Stability and Economic Growth in Southeast Asia Kenedi, Kenedi
Jurnal Economia Vol. 20 No. 3 (2024): October 2024
Publisher : Faculty of Economics and Business, Universitas Negeri Yogyakarta in collaboration with the Institute for

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21831/economia.v20i3.55968

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AbstractFinancial stability is an important part of economic growth. The main objective of this study is to analyse how financial stability (using Bank Z-Score) affects economic growth. The data used is country-level data from five selected Southeast Asian countries (Indonesia, Cambodia, Malaysia, Philippines, and Thailand) for the period 2011 – 2021 using the ARDL model approach. The results of this study found strong evidence that financial stability (banking stability) has a positive effect on economic growth for countries in the Southeast Asian region. This study also reveals that it is not only important financial stability variables to achieve economic growth, but investment and trade openness must also be increased if the country is to achieve its expected economic growth. A positive correlation between investment and trade openness suggests a potential for these factors to contribute to economic growth synergistically. Keywords:Financial Stability, Economic Growth, Bank Z-Score, ARDL
Utilization of Virtual Reality as a Sustainable Tourism Promotion Strategy Based on Information Technology in Banten Province Permana, Basuki Rakhim Setya; Kenedi, Kenedi; Huda, Miftahul
JINAV: Journal of Information and Visualization Vol. 5 No. 2 (2024)
Publisher : PT Mattawang Mediatama Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.jinav3055

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The rapid development of technology has introduced Virtual Reality (VR) as a new approach to promoting sustainable tourism. This research focuses on the utilization of VR as an innovative strategy for tourism promotion in Banten Province, Indonesia, particularly in key tourist destinations such as Anyer Beach, Tanjung Lesung Beach, Umang Island, and the Great Mosque of Banten. By leveraging VR, tourists can experience a more immersive and interactive preview of these locations, fostering greater interest in visiting and supporting sustainable tourism practices. The research was conducted using surveys, gathering responses from 1,000 participants. The findings indicate that VR significantly enhances tourists' experience by offering detailed visualizations, increasing awareness of environmental sustainability, and encouraging eco-friendly travel behavior. This study demonstrates that VR can be a powerful tool in promoting sustainable tourism, offering both educational and entertainment value, while contributing to the preservation of local culture and natural resources. The results suggest that the integration of VR in tourism promotion strategies can play a key role in advancing eco-friendly tourism development.
Bakti Sosial Peduli Pendidikan Sebagai Bentuk Pengabdian Kepada Masyarakat di Desa Ciwarna Mancak Kabupaten Serang Riska Ferdiana; Intan Indria Dewi; Irwan Sukmawan; Kenedi Kenedi; April Laksana
WINDRADI: Jurnal Pengabdian Masyarakat Vol. 1 No. 1 (2023): July - December
Publisher : P3M FIA UNKRIS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61332/windradi.v1i1.143

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The community service programs implemented cover various aspects of community life, such as education, environment, economics and social. Building the capacity and empowerment of the Ciwarna Village community is also the main focus, by providing assistance and providing relevant assistance. In conclusion, SENABUNG's synergy in social activities with Bina Bangsa University KKM students in Ciwarna village has an important role in improving the quality of life of the local community. This collaboration reflects the spirit of cooperation and commitment of universities and students to actively contribute to solving social problems and improving community welfare
EVALUATION OF THE ECONOMIC POTENTIAL OF COASTAL TOURISM STRATEGIC AREA OF ANYER TOURISM – CINANGKA Kenedi, Kenedi; Irwan Sukmawan; April Laksana
Jurnal Ekonomi Vol. 11 No. 01 (2022): Jurnal Ekonomi
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (823.792 KB)

Abstract

The development of tourism that is not optimal is one of the obstacles to the undevelopment of the tourism industry both in Banten Province and in Serang Regency. Serang Regency is one of the districts with considerable tourism potential to be developed and maintained. To encourage the growth of the tourism industry in Banten Province, the local government has issued Banten Provincial Bylaw No. 6 of 2019 concerning the Banten Province Tourism Development Master Plan for 2018-2025, where in the bylaw, one of the strategic development areas is the Anyer – Cinangka strategic tourism area. In the strategic area of Anyer tourism – Cinangka which is the leading tourism sector is beach tourism where there are four main beaches: Anyer Beach, Tanjung Tum Beach, Bojong Beach and Sambolo Beach. To support the bylaw, it is necessary to take several strategic steps, one of which is to see the potential of beach tourism in the area in an integrated or comprehensive manner.The purpose of this study is to evaluate the beach tourism potential of the Strategic Tourism Area of Anyer – Cinangka which includes: Anyer Beach, Tanjung Tum Beach, Bojong Beach and Sambolo Beach. The method used in this study is the Explanatory Survey Method, with data collection techniques including observations, questionnaires, interviews, documentation and literature studies. The primary data were then processed using the Integrated Beach Value Index (IBVI) method. The results of the IBVI calculation concluded that Anyer Beach – Marbella has the highest IBVI value with a moderate classification and the lowest is Bojong-Lighthouse Beach also with a moderate classification. These results can be used for comparison on each beach attraction and further research development.
DIGITAL TOURISM DEVELOPMENT STRATEGY AS A PROMOTION OF CREATIVE ECONOMY TOURISM IN BANTEN PROVINCE April Laksana; Kenedi, Kenedi; Basuki Rakhim Setya Permana
Jurnal Ekonomi Vol. 11 No. 01 (2022): Jurnal Ekonomi
Publisher : SEAN Institute

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

Abstract

The tourism sector is one sector that has great potential to increase state and regional income. For this reason, efforts are needed to develop tourism in Indonesia. One of the programs from the government to increase the number of tourists is to prioritize tourism development in 10 locations, one of which is Tourism in Banten Province. In addition to developing tourism areas, another thing that can be done to increase the number of tourists is using information technology as a promotional medium through Digital Tourism. The purpose of this study is to view and analyze digital tourism as tourism promotion in Banten Province as a way of promoting tourism in Banten Province. The analytical technique used in this study is a SWOT analysis technique by looking at internal factors (strengths and weaknesses) and external factors (opportunities and threats) related to the development of Digital Tourism in Banten Province. The results of this study can be used by the government or related parties in determining the direction of tourism development in Banten Province
Comparative analysis of financial performance of Pharmaceutical Companies after the Covid-19 pandemic Qotrun Nada, Zanuba; Yusuf, Furtasan Ali; Kenedi, Kenedi
Enrichment : Journal of Management Vol. 15 No. 3 (2025): August: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v15i3.2317

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This study aims to analyze and compare the financial performance of pharmaceutical companies in Indonesia in the post-COVID-19 pandemic period. This study is based on the phenomenon of increasing demand for pharmaceutical products during the pandemic, which significantly affected the company's revenue structure, profitability, and efficiency. With the end of the global health crisis, it is important to understand how the financial performance of pharmaceutical companies has changed and whether there have been adjustments to their business strategies in facing the new normal. The research method uses a quantitative approach with financial ratio analysis covering liquidity, profitability, solvency, and activity. Data are taken from the annual financial reports of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023, representing the periods before, during, and after the pandemic. Comparative analysis was conducted using different tests (paired sample t-test and ANOVA) to assess the significance of changes in performance between periods. The results show that in general, pharmaceutical companies experienced a significant increase in financial performance during the pandemic, particularly in profitability ratios. However, after the pandemic ended, there was a decline in revenue and profit margins due to the decline in demand for emergency health products. Nevertheless, several companies were able to maintain positive performance through product diversification and healthcare service innovation. These findings are relevant for corporate management, investors, and policymakers in understanding the dynamics of the pharmaceutical industry in the post-pandemic era and the adaptation strategies needed to maintain business sustainability amid fluctuating healthcare sector demand.
The influence of return on assets and return on equity on company value asset Cahya, Kamilah; Yusuf, Furtasan Ali; Kenedi, Kenedi
Enrichment : Journal of Management Vol. 15 No. 3 (2025): August: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v15i3.2319

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This study aims to analyze the effect of Return on Assets and Return on Equity on firm value in automotive sector issuers listed on the Indonesia Stock Exchange during the 2020–2024 period. Profitability is viewed as a fundamental factor influencing market valuation and investor confidence, particularly in the automotive sector, which experienced significant pressure during the COVID-19 pandemic and the challenges of post-pandemic economic recovery. The research method employed a quantitative approach using secondary data in the form of financial reports and annual stock prices. The sample was determined through purposive sampling of automotive companies consistently listed on the IDX throughout the study period. Firm value was measured by the Price-to-Book Value (PBV) ratio, while the independent variables were ROA and ROE. Data analysis was performed using multiple linear regression with the classical assumption test to ensure model sphericity.The results of the hypothesis testing indicate that ROA and ROE simultaneously have a significant effect on firm value (p < 0.05). Partially, ROA has a positive and significant effect, indicating that efficient asset utilization directly increases firm value. Meanwhile, ROE also had a positive effect, but with a lower level of significance, indicating that return on equity also supports increased firm value, although it does not influence ROA.
Relationship Between Inflation and Financial Stability: A Case Study of ASEAN Nations Farida, Gina; Kenedi, Kenedi; Agustini, Anti Wulan
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 1 (2025): August 2025
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i1.8147

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Inflation is a key macroeconomic indicator that plays a critical role in shaping the direction and stability of financial systems, especially in the ASEAN region, where countries exhibit diverse levels of economic development. Persistent inflationary pressures may lead to systemic risks in the financial sector through rising non-performing loans and declining investor confidence. This study investigates the impact of inflation on financial stability in ASEAN countries, while controlling for exchange rate fluctuations. Utilizing annual panel data from 2000 to 2021, the study employs the Panel Autoregressive Distributed Lag (Panel ARDL) approach. Financial stability is proxied by the banking sector’s Z-score index, with inflation as the primary independent variable and the exchange rate included as a control variable. Prior to estimation, panel unit root, cross-sectional dependence, and cointegration tests are conducted to ensure model robustness. The long-run estimation results show that inflation has a significant negative effect on financial stability (coefficient = -0.206173, p = 0.0256), while the exchange rate is insignificant (p = 0.7967). In the short run, inflation exhibits a temporary positive effect (coefficient = 0.118962, p = 0.0784), whereas the exchange rate remains insignificant. The error correction term (ECT) is negative and significant (coefficient = -0.616539, p = 0.0190), indicating that 61.65% of short-term disequilibrium is corrected toward long-run equilibrium within one period. These findings underscore the critical importance of inflation control as a strategic policy tool to preserve long-term financial stability in ASEAN, alongside consistent macroprudential measures to mitigate external shocks, including exchange rate volatility.
The Influence of Digital Money, Financial Inclusion, and Investment on Economic Growth in Indonesia Amsilah, Amsilah; Kenedi, Kenedi; Agustini, Anti Wulan
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 1 (2025): August 2025
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i1.8150

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The rapid growth of digital finance has reshaped economic activities in emerging markets, including Indonesia. As financial technology evolves, understanding its influence on economic development becomes increasingly important. This study aims to examine the impact of digital money, financial inclusion, and investment on economic growth in Indonesia from 2009 to 2023. A quantitative approach was employed using the Autoregressive Distributed Lag (ARDL) model to analyze annual time series data. The results reveal that in the long run, all three variables digital money, financial inclusion, and investment significantly and positively influence economic growth. Investment had the largest impact, followed by financial inclusion and digital money. In the short run, digital money and investment remain significant, while financial inclusion shows a lagged negative effect. The error correction term is significant and negative, confirming a stable long-run relationship. The findings underscore the importance of promoting investment and strengthening digital and financial infrastructure to enhance both immediate and sustained economic performance in Indonesia’s digital economy.
The Impact of Renewable Energy Consumption on Economic Growth in Seven ASEAN Countries Mulyani, Mulyani; Hidayat, Asep Munir; Tejaarief, Billy; Kenedi, Kenedi; Agustini, Anti Wulan
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 5 No. 1 (2025): DECEMBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/marginal.v5i1.1920

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Renewable energy has become a global priority to reduce fossil fuel dependence and environmental impact. Seven ASEAN countries (Indonesia, Malaysia, Thailand, Vietnam, Philippines, Singapore, Cambodia) face significant challenges in maintaining energy stability while promoting sustainable development. This study analyzes the direct effects of Renewable Energy Consumption, Electricity Consumption, and Trade on Economic Growth from 2014 to 2023 in seven ASEAN countries. Secondary data analysis using a quantitative approach was employed. The sample consisted of seven countries selected through purposive sampling. Panel data analysis was conducted using Eviews10 program. The F-statistic value of 568.6365 exceeded the F-table value of 3.13 at 95% confidence level, rejecting the null hypothesis. Collectively, Renewable Energy Consumption, Electricity Consumption, and Trade significantly influence Economic Growth. Country-specific analysis revealed that renewable energy consumption affects economic growth across all countries, electricity consumption significantly influences growth in Cambodia and Vietnam, while trade contributes to economic growth in Malaysia and Vietnam. The findings demonstrate that energy transition and regional economic integration play crucial roles in supporting long-term economic growth in the ASEAN region. Each country exhibits varying responses to different energy and trade factors, indicating the need for tailored sustainable development approaches.