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Forecasting of Government Yield Curve in Post-Corona Pandemic Vera Mita Nia; Hamzah Hamzah
Jurnal Manajemen dan Organisasi Vol. 11 No. 3 (2020): Jurnal Manajemen dan Organisasi
Publisher : IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jmo.v11i3.33968

Abstract

The Indonesia government conducts several fiscal strategies to solve Revenue and Expenditure Budget (APBN)’s deficit due to corona pandemic by relaxation of APBN’s deficit policy, using surplus balance, upsizing loan and bond in domestic and valas currency. Upsizing or issuance a new Indonesian bon called SUN, would increase cost of rate is paid by government and its maturity that impacted to yield curve and risk of SUN. It has inspired this research to (1) investigate the determinant of yield curve due to shocks that occur in Indonesian macroeconomic during the pandemic (2) the impact of the pandemic on SUN’s risk and (3) the forecast of the yield curve in SUN after the pandemic using the VAR / VECM method. The reasearch used secondary data of bond yield from Indonesian Stock Market and imposed the effect of such as inflation, BI Rate, Kurs and foreign exchange that is taken from several sources such as BPS, Central Bank of Indonesia and Bloomberg during 2015 January until 2020 May. This research proves that the five main macroeconomic indicators have an influence in the short and long term on the yield curve. YIELD, GDP and BIR variables have a significant negative effect in the short term on the yield curve, whereas CPI, KURS and CD have no significant effect. The ECT’s coefficient shows the speed of adjustment towards the long-term balance and the BI Rate adjustment is faster than other variables with an ECT coefficient of 0,33. The estimation results show that the average R-squared is above 55 percent with the highest value of 79,35 percent, this indicates that the equation was formed because the research variables amounted to the R-squared results.
DETERMINANTS OF ISLAMIC FINANCIAL EXCLUSION IN INDONESIA Mohammad Mahbubi Ali; Abrista Devi; Hamzah Bustomi
Journal of Islamic Monetary Economics and Finance Vol 6 No 2 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i2.1093

Abstract

The study aims to uncover the determinants of Islamic financial exclusion in Indonesia by gathering the response from financially-excluded respondents. A total of 110 respondents were surveyed, representing five provinces, namely West Java, South Sulawesi, Aceh, East Kalimantan, and North Maluku. The criteria of financially-excluded respondents are those who do not have any Islamic financial products, neither saving, financing, nor capital market account. The study employs Confirmatory Factor Analysis (CFA) to identify indicators explaining Islamic financial exclusion determinants in Indonesia. The paper found that location is the key barrier to obtain financing from and participate in saving in Islamic banks/Islamic microfinance, while lack of financial knowledge is identified as the critical barrier to deal with Islamic capital market products. Overall, most of the respondents perceive human capital, as well as product and services as the two most significant determinant of Islamic financial exclusion in Indonesia, followed by infrastructure, policies and regulation, financial literacy, social influence, and religious commitment, respectively. The originality of the paper lies in detailed insight into the perception of financially-excluded on the factors leading to Islamic financial exclusion.
Optimum of Strategic Asset Allocation for Indonesian Hajj Fund Beny Witjaksono; Hamzah Bustomi
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20020

Abstract

Hajj fund must be managed effectively with a diligent approach of standard risk management. This study examines the level of risk management The Hajj Fund Management Agency (BPKH) performs in optimizing its investments: fund and fixed asset portfolios.  The measurement data was initially and purposively retrieved.   It was later run and processed through linear programming for further analyses. The results indicate that Sharia banking deposits and gold are riskless assets. As far as other asset portfolios, investments are placed strictly based on direct and indirect participation according to the government's regulations to avoid the pressures of market volatility. This study serves as a reference for regulators in formulating appropriate strategic asset allocation to applied related optimized management of hajj fund investment.JEL Classification: C44, C51, C58, C61, D81, E22, E47How to Cite:Witjaksono, B., & Hamzah. (2021). Optimum Strategic of Asset Allocation for Indonesian Hajj Fund. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 195-208. https://doi.org/10.15408/sjie.v10i2.20020.
ANALYSIS OF POLICIES AND STRATEGIES FOR YOUTH ENTREPRENEURSHIP DEVELOPMENT Hamzah Hamzah; Suhendi Suhendi; Agustian Burda
JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Vol 9, No 1 (2023): Vol 9, No. 1 (2023)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34203/jimfe.v9i1.7172

Abstract

ABSTRAKTujuan penelitian ini yaitu untuk memetakan isu-isu dan perumusan strategi pengembangan kewirausahaan pemuda. Penelitian ini adalah penelitian analisis kebijakan berdasarkan justifikasi pakar. Pakar ditentukan secara sengaja dan merupakan orang kunci, benar-benar faham dan berkontribusi dalam pengembangan kewirausahaan pemuda, serta mewakili dari pemerintah, praktisi, peneliti dan akademisi. Metode penelitian yang digunakan yaitu analisis deskriptif, metode Strategic Assumption Surfacing and Testing (SAST) dan Analytical Hierarchy Process (AHP). Hasil penelitian menunjukkan bahwa terdapat faktor yang  harus dipertimbangkan dalam menyusun kebijakan pada isu yang dibahas meliputi isu kebijakan terkait peningkatan keterampilan wirausaha pemuda agar berdaya saing; kebijakan kebutuhan database wirausaha secara nasional dan spasial; serta isu kebijakan integrasi pengembangan dan prioritas strategi kebijakan wirausaha di Indonesia. Implikasi dari penelitian ini adalah meningkatkan keterampilan bersaing melalui program yang tepat sasaran dan bantuan modal; koordinasi antar berbagai kementerian dan lembaga; serta membangun database kewirausahaan nasional untuk perumusan dan sinergi kebijakan.ABSTRACTThe purpose of this research is to map the issues and formulate a youth entrepreneurship development strategy. This research is a policy analysis research based on expert justification. Experts are determined deliberately and are key people, who really understand and contribute to the development of youth entrepreneurship, as well as representatives from government, practitioners, researchers, and academics. The research method used is descriptive analysis, Strategic Assumption Surfacing and Testing (SAST), and Analytical Hierarchy Process (AHP) methods. The results of the study indicate that there are factors that must be considered in formulating policies on the issues discussed including policy issues related to improving youth entrepreneurial skills so that they are competitive; policy on the need for databases on national and spatial entrepreneurship; as well as issues of development integration policies and strategic priorities for entrepreneurship in Indonesia. The implication of this research is to improve competitive skills through well-targeted programs and capital assistance; coordination between various ministries and institutions; and building a national entrepreneurship database for policy formulation and synergy.
ANTECEDENT IN DEVELOPING VILLAGE ECONOMIC CENTER IN REMBANG DISTRICT CENTRAL JAVA INDONESIA Hendro Sasongko; Yuary Farradia; Retno Martanti Endah Lestari; Hamzah Hamzah; Hasrul Hasrul; Herman Herman
International Journal of Engagement and Empowerment Vol. 3 No. 1 (2023): International Journal of Engagement and Empowerment
Publisher : Yayasan Education and Social Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53067/ije2.v3i1.101

Abstract

Local economic development is one of the Indonesia national development strategy in order to achieve sustainable development goals. Villages sustainable development goals will contribute to the local economic development. Establishing a village economic centre is one of the strategy to support village sustainable development. Rembang district located in Northern Java has potential production on various agribusiness products. A village economic centre in Rembang will play a key role for villages development. Collaboration program among village’s stakeholders such as between education institution with the village community are important namely community services. A community service in Rembang district was done to educate the community on how important to conduct feasibility study and analysis before execute various development strategy such as technology, information system and human resource development. The result of this community service was an understanding and commitment from village stakeholders that continuous village economic centre have to be established based on feasibility study
DETERMINATION OF ORGANIZATIONAL CLIMATE ON ORGANIZATIONAL CITIZENSHIP BEHAVIOR WITH TRUST MEDIATION IN THE HOTEL BUSINESS IN SERANG CITY, BANTEN Ika Pratiwi; Nancy Yusnita; Hamzah
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 5 No. 1 (2025): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v5i1.2531

Abstract

Employees are an important part of the sustainability of the hotel business. However, in Serang City, which is one of the provinces with quite diverse tourist destinations, it is not supported by quality human resources so that businesses in this field are less developed. The purpose of this study is to determine the effect of climate organization on OCB; determine the effect of servant leadership on OCB; determine the effect of trust on OCB; determine the effect of climate organization on trust; determine the effect of servant leadership on trust; determine the effect of servant leadership on trust; determine the effect of climate organization and on OCB through trust; and determine the effect of servant leadership and on OCB through trust. This study uses a quantitative approach. The data used are primary and secondary data, primary data obtained from the results of questionnaires and interviews while secondary data obtained from scientific notes, journals and reports. Data analysis using SEM-PLS. SEM-PLS results show that climate organization, servant leadership and trust have an effect on OCB. Other results are also explained in this study and the limitations of the research will be explained thoroughly.
STRATEGY TO ENHANCE ORGANIZATIONAL COMMITMENT FOR THE SUSTAINABILITY OF CULINARY SMALL AND MEDIUM ENTERPRISES IN BOGOR CITY Roosganda Elizabeth; Didik Notosudjono; Hamzah
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 5 No. 2 (2025): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v5i2.2861

Abstract

Culinary small and medium enterprises (SMEs) play a vital role in Indonesia’s economy, contributing to GDP, employment, and community income. This dissertation research is significant as it identifies sustainability challenges resulting from low komitmen terhadap organisasi, influenced by variables such as perceived organizational support and creativity, with work motivation acting as a mediating factor. Moreover, there has been a lack of specific studies addressing this issue. The objective of this research is to analyze the influence of the three variables on komitmen terhadap organisasi and to formulate strategic approaches to enhance the sustainability of culinary SMEs in Bogor City.Seven hypotheses are proposed, examining the influence of perceived organizational support and creativity on work motivation and komitmen terhadap organisasi, as well as the mediating role of work motivation in these relationships. The novelty of this research lies in its strategic framework for enhancing komitmen terhadap organisasi to ensure business sustainability and its integration of the three exogenous variables into a validated analytical model. A mixed-method approach was employed, involving 230 employee respondents from Bogor City, collected between December 2023 and July 2024. The findings reveal that perceived organizational support affects komitmen terhadap organisasi through the mediation of work motivation. Additionally, both creativity and work motivation have a direct influence on komitmen terhadap organisasi. Furthermore, five strategic recommendations were developed to support the sustainability of culinary SMEs. It is expected that the results of this dissertation can serve as a foundation and guide for academics, entrepreneurs, and policymakers in formulating more effective policies to improve the sustainability and competitiveness of culinary SMEs at both the national (Bogor and Indonesia) and international levels.
EMPLOYEE PERFORMANCE IMPROVEMENT STRATEGY THROUGH STRENGTHENING JOB CHARACTERISTICS, TRANSFORMATIONAL LEADERSHIP, AND WORK ATTITUDE AND WORK MOTIVATION Ujo Sujoto; Anoesyirwan Moeins; Hamzah
Multidiciplinary Output Research For Actual and International Issue (MORFAI) Vol. 5 No. 2 (2025): Multidiciplinary Output Research For Actual and International Issue
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/morfai.v5i2.3853

Abstract

This study aims to find strategies to improve the performance of First Expert Immigration Analysts at the Directorate General of Immigration at Soekarno-Hatta Airport through job characteristics, transformational leadership, and work attitudes, both directly and through the mediation of work motivation. The main focus is to identify the most effective way to develop employee motivation and performance through a multidimensional approach that includes individual factors, leadership, and the work environment. This study uses a mixed methods method, namely a combination of quantitative and qualitative approaches in data collection and analysis. The research location is at the Class I Immigration Office of Soekarno-Hatta Airport, which is administratively located in Banten Province. The focus of the research is on the role of Immigration Officers and First Expert Immigration Analysts. The study population was 406 people, with a sample of 202 people. This study concludes that job characteristics, transformational leadership, work attitudes, and work motivation have a direct and significant effect on employee performance. In addition, job characteristics, transformational leadership, and work attitudes also influence work motivation. Work motivation is proven to indirectly mediate the influence of these three variables on improving employee performance at the Directorate General of Immigration at Soekarno-Hatta Airport.