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THE IMPACT OF EDUCATION ON ECONOMIC GROWTH IN INDONESIA Faizal Reza; Tri Widodo
Journal of Indonesian Economy and Business (JIEB) Vol 28, No 1 (2013): January
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Does education promote economic growth? The aim of this study is to find out the impact of education on economic growth in Indonesia. This research employed panel data technique to investigate the relationship between education and economic growth in Indonesia during the period 1996-2009. The empirical results show that education per worker has a positive and significant impact on economic growth. The estimates of panel model suggest that a 1% increase in average education per worker will lead to about 1.56% increase in output. By using instrument analysis, researchers found that Jawa Timur is a province with highest economic growth in Indonesia. In contrast, Bengkulu experiences the lowest position with the lowest economic growth. The results show us that there are still substantial disparities within the provinces in Indonesia.

Does Education Can Explain Economic Growth? Contribution of Old And New Approach faizal Reza
RJABM (Research Journal of Accounting and Business Management) Vol 1, No 1 (2017)
Publisher : LPPM University 17 Agustus 1945 Samarinda

Does education can explain economic growth? The aim of this study is to find out the impact of education on economic growth with two different approach that is the old approach called Augmented Solow Model (Neoclassical Growth Theory) and newer approach called New Growth Theory. Many research used this two model and found different result, in broad outline there are still two conclusion about impact education on economic growth. First, many researcher still conclude that education is one of important variable that influence economic growth, and vice versa. Apart from the fact that education still give two conclusion, New Growth Theory with TFP serves a broader view about what channel that used by education to influence economic growth that is from diffusion and innovation.

Influence of system, information and digital payment qualities on customer satisfaction of gojek super app Adisthy Shabrina Nurqamarani; Faizal Reza; Nur Fitriani; Eka Yudhyani; Andi Indrawati
INOVASI Vol 18, No 4 (2022): November
Publisher : Faculty of Economics and Business Mulawarman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30872/jinv.v18i4.11786

In the era where technology and big data play the key role in determining success, a lot of startups emerged utilizing the opportunities to grab market, Gojek is one of the successful startups which claimed itself as the first super-app in the world. Despite its claim, Gojek faces intense competition with Grab, another super-app in Indonesia, and therefore ensuring qualities in its application hold important role to determine customer satisfaction to maintain the market. This study aims to analyze the effect of qualities attributes of system, information, and digital payment on customer satisfaction of Gojek Super Application through a sample of 100 respondents which were selected through purposive sampling method. The result revealed that system, information, and digital payment quality affected customer satisfaction significantly both partially and simultaneously. This research recommends Gojek to evaluate the service quality in its super app by considering the qualities of system, information and digital payment to improve customer satisfaction.

Determinant Factors of Firm Value: Cash Holdings and Dividend Policy as Mediation Eka Yudhyani; Umi Kulsum; Faizal Reza; Astrid Napita Sitorus; Nanda Wahyu Indah Kirana
JASF: Journal of Accounting and Strategic Finance Vol. 5 No. 2 (2022): JASF (Journal of Accounting and Strategic Finance) - December 2022
Publisher : Accounting Department, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jasf.v5i2.325

In times of uncertainty such as a crisis, a company needs to maintain its value for its investors. Theory suggests that for uncertainty, the company needs to have cash holding, but on the other hand, it needs to pay dividends. Therefore, this research aims to prove the relationship between factors that affect firm value with cash holding and dividend policy as mediation. We conduct this research on the manufacturing company from 2015 to 2021 registered on Indonesia Stock Exchange. Using the purposive sampling method, 82 company was chosen and 574 data was studied. To test our hypotheses, we use SmartPLS. The results proved that cash holding can influence firm value, while dividend policy cannot. For the indirect effect, we found that profitability and net working capital indirectly affect firm value through cash holding. We explain the theory and practical implications and describe our study’s limitations. For future research, we suggest differentiating firm value before and during a financial crisis, and the industry sector that has the worst, moderate, and light impact from the crisis.

ECONOMIC IMPACT ANALYSIS OF APT PRANOTO AIRPORT PROJECT DURING CONSTRUCTION PHASE Adisthy Shabrina Nurqamarani; Faizal Reza
TRIKONOMIKA Vol 18 No 2 (2019): December Edition
Publisher : Faculty of Economics and Business, University of Pasundan

The aim of this research was to provide the evidence of economic benefits resulted from development of APT Pranoto airport towards East Kalimantan which will strengthen the support of the development of the new airport from various stakeholders. This research applied input-output, analysis to estimate the economic impact i.e impact of expenditure on construction phase. Direct impact includes the increase in gross value added as well as income from tax payment and create new employment. Indirect impact includes increase in capital spending of the workers and more money circulated within the area of East Kalimantan. This study conclude that there are direct and indirect impacts from APT Pranoto airport during construction phase within the period of 5 years. The findings can be used to emphasize APT Pranoto Airport Project in gaining funding and acceptance from local economy.

Pelestarian Budaya dan Adat Kutai ke Generasi Muda Melalui Pergelaran Seni Akhmad Al Aidhi; Faizal Reza
Jurnal Pengabdian Masyarakat Lamin Vol 2, No 1 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas 17 Agustus 1945 Samarinda

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

Negara Indonesia adalah negara yang memiliki banyak keragaman budaya dengan berbagai ciri khas dan karakteristik masing-masing seperti keragaman ras, suku bangasa dan bahasa. Keragaman-keragaman tersebut menjadi keunikan tersendiri bagi Indonesia yang mana menjadi pusat ilmu pengetahuan dan pariwista bagi turis lokal maupun internasional. Akan tetapi, seiring dengan perkembangnya zaman dan kemajuan tehnologi pada saat ini, para generasi muda atau yang kita kenal dengan generasi milineal sebagian sudah tidak familiar dengan adat dan budaya dari para leluhur mereka. Sebagai contoh, lagu-lagu daerah telah dilupakan atau digeser dengan lagu-lagu barat yang viral melalui berbagai flatform social media. Contoh yang lain, kebudayaan tradisional yang sudah mulai tergerus bagi generasi muda adalah tarian tradisional Akhinya, salah satu cara untuk melestarikan budaya dan adat kutai ini agar tidak punah dan terus dicintai oleh penerus bangsa yaitu dengan diadakanya pergeleran seni adat dan budaya. Yang mana didalamnya diadakan kegiatan lomba dan kuliah umum mengenai sejarah budaya dan adat, dalam hal ini ini sejarah Suku Kutai, keragaman budaya serta bahasanya. Pergelaran seni yang dilaksanakan LBAK Kota Samarinda telah membuat generasi muda dan masyarakat tergugah hati untuk terus melestarikan budaya kutai dan menjaganya agar jangan sampai punah.

Does Education Can Explain Economic Growth? Contribution of Old And New Approach Reza, Faizal
RJABM (Research Journal of Accounting and Business Management) Vol 1, No 1 (2017)
Publisher : LPPM University 17 Agustus 1945 Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31293/rjabm.v1i1.2730

Does education can explain economic growth? The aim of this study is to find out the impact of education on economic growth with two different approach that is the old approach called Augmented Solow Model (Neoclassical Growth Theory) and newer approach called New Growth Theory. Many research used this two model and found different result, in broad outline there are still two conclusion about impact education on economic growth. First, many researcher still conclude that education is one of important variable that influence economic growth, and vice versa. Apart from the fact that education still give two conclusion, New Growth Theory with TFP serves a broader view about what channel that used by education to influence economic growth that is from diffusion and innovation.

IS ARBITRAGE PRICING THEORY IS A FAIRY TALE ?: THE EVIDENCE FROM INDONESIA WITH ORDINARY LEAST SQUARE ESTIMATION Reza, Faizal; Nurqamarani, Adisthy Shabrina; Solihin, Danna
RJABM (Research Journal of Accounting and Business Management) Vol 2, No 1 (2018)
Publisher : LPPM University 17 Agustus 1945 Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31293/rjabm.v2i1.3475

Time series analysis in financial sector has grown in popularity since the last few decades, theories about capital markets are increasingly studied since Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) are often compared and paired with one another. The development of APT is widespread by involving many macroeconomic variables. Unfortunately there is no consensus until now. This paper aims to examine the relevance of APT in the case of Indonesia during the period 2009-2017 with standard multiple regression equations. From three independent variables, only exchange rates have a significant influence on the composite stock price (IHSG) in Indonesia, while inflation and GDP have no significant effect on stock prices. 99.8% variation in stock price formation can be explained by independent variables where there is a positive relationship between exchange rate and stock price indicates a mechanism of stock price formation through strong domestic demand before fourth quarter 2016 and trade effect (export-import) after fourth quarter 2016 .

ANALISIS DAMPAK PEMBANGUNAN SAMARINDA BARU (BSB) TERHADAP PROVINSI KALIMANTAN TIMUR Nurqamarani, Adisty Shabrina; Reza, Faizal
RJABM (Research Journal of Accounting and Business Management) Vol 2, No 2 (2018)
Publisher : LPPM University 17 Agustus 1945 Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31293/rjabm.v2i2.3704

This is a descriptive research regarding economic impact analysis of APT Pranoto Airport or called “Bandara Samarinda Baru” in East Kalimantan region. The aim of the project was to provide the evidence on the economic benefits resulted from Samarinda Baru airport by applying economic impact analysis. This article primarily focused on expenditure impacts as well as brief information of non-pecuniary impacts of Samarinda Baru airport project during operational phase. At the research stage, the project focused on examining the previous literatures of economic impact studies at the same time as investigating reports on the Samarinda Baru airport. The project involved a strong element of analysis on academic literatures, reports from Dinas Perhubungan Kalimantan Timur and Unit Pengelola Bandar Udara (UPBU) Kalimantan Timur. The methodology applied input output approach based on multipliers and relies on secondary data collection as primary method. The findings showed that there are numerous economic and non economic benefits resulted from the development of Bandara Samarinda Baru, included increase employment of local workers, increase expenditure within the region which impacted to better money circulation within the region, and also increase learning opportunities and create positive image towards cities around the airport location which in turn to economic welfare throughout East Kalimantan province. This finding can be used to emphasize Samarinda Baru airport contribution to East Kalimantan region and support its development in gaining funding and acceptance from local community.

Dari Variabel Makroekonomi Ke Return Saham: Studi Literatur Dan Fakta Empiris Pada Emerging Market Economy Reza , Faizal
Paradoks : Jurnal Ilmu Ekonomi Vol. 8 No. 1 (2025): November - Januari
Publisher : Fakultas Ekonomi, Universitas Muslim Indonesia

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

Seiring dengan perkembangan perekonomian, kontribusi variabel makroekonomi disinyalir cukup besar dalam mempengaruhi return saham. Beberapa teori sejak lama dikembangkan guna menangkap hipotesis ini. Artikel ini bertujuan untuk mengkaji literatur dan fakta empiris mengenai pengaruh variabel makroekonomi terhadap return saham pada Emerging Market Economy. Penelitian ini menggunakan pendekatan literature review dimana artikel yang relevan dikumpulkan dan dianalisis untuk memahami hubungan antara faktor eksternal makroekonomi dan kondisi pasar saham. Hasil penelitian menunjukkan bahwa metode perhitungan dengan pendekatan berbeda mempengaruhi interpretasi data pasar. Faktor-faktor seperti tingkat bunga, inflasi, dan nilai tukar memiliki dampak signifikan yang bervariasi terhadap return saham. Pertumbuhan ekonomi nampaknya menunjukkan pengaruh yang tidak selalu jelas, sehingga memerlukan analisis lebih lanjut. Pendekatan CAPM dan APT sejak lama digunakan untuk menganalisis return saham, dimana CAPM fokus pada risiko sistematik, sedangkan APT menawarkan pendekatan lebih luas dengan mempertimbangkan berbagai faktor risiko yang memungkinkan analisis yang lebih komprehensif terhadap pergerakan harga saham itu sendiri. Penelitian ini juga mengeksplorasi bagaimana pengaruh faktor-faktor makroekonomi utama seperti inflasi, tingkat bunga, nilai tukar, dan pertumbuhan ekonomi (GDP) terhadap return saham di pasar negara sedang berkembang. Temuan ini memberikan pemahaman yang lebih dalam tentang peran kritis faktor-faktor makroekonomi tersebut dalam mempengaruhi dinamika pasar modal di negara-negara sedang berkembang.

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