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Corporate Social Responsibility of Coal Comodity Industry in Indonesia Solihudin, Ahmad Rizal; Danica; Kurniawan, Mahrus Lutfi Adi
BALANCE: Economic, Business, Management and Accounting Journal Vol 21 No 1 (2024): Januari
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/blc.v21i1.2281

Abstract

The concept of Corporate Social Responsibility (CSR) continues to develop following the rapid development of business models and awareness of various groups regarding CSR issues. The implementation of CSR has been carried out by companies at various levels, from multinational, national to local companies, especially in Indonesia. This research aims to analyze the CSR performance of coal companies in Indonesia by measuring leverage, profitability and company size. The data collection method uses content analysis techniques in annual reports of coal companies listed on the IDX. The testing method uses panel data regression. Hypothesis test results show that company size and probability influence corporate social responsibility (CSR). Meanwhile, leverage shows a positive and significant influence on corporate social responsibility (CSR).
ANALISIS VARIABEL MAKROEKONOMI TERHADAP UTANG LUAR NEGERI INDONESIA: PENDEKATAN VAR Dinul, Achmad Amirul; Kurniawan, Mahrus Lutfi Adi
Modus Vol. 36 No. 2 (2024): VOL 36 NO 2 (2024)
Publisher : Faculty of Business and Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/modus.v36i2.8910

Abstract

By undertaking development, a country may accelerate its economic growth and overcome various obstacles. Foreign debt occurs as a part of the policy to fund national projects, to cover budget deficit, and to stimulate economic growth. This study aims to analyze the effects of interest rate, Gross Domestic Product (GDP), exchange rate, and export on foreign debt in the 1970-2021 period. Secondary data were derived from the International Monetary Fund, World Bank, Bank Indonesia, Statistics Indonesia (BPS), and the Ministry of Finance. The variables analyzed in this study were foreign debt, GDP, export, interest rate, and exchange rate from 1970 to 2021. The Vector Autoregressive (VAR) method was used to identify the shock of independent variables responded by foreign debt as the dependent variable. The results showed that there was a positive response from foreign debt to the changes in interest rate and GDP, and a negative response to the changes in exchange rates and export. The improvement in macroeconomic conditions, especially the stability of exchange rate and the increase of export, may improve the trust of creditors and the sustainability of foreign debt. Keywords: foreign debt; exchange rate; export; VAR. Dengan melakukan pembangunan, negara dapat mempercepat pertumbuhan ekonomi dan mengatasi berbagai kendala pembangunan. Utang Luar Negeri (ULN) muncul sebagai kebijakan untuk membiayai proyek nasional, menutup defisit anggaran dan menggerakkan roda perekonomian. Tujuan penelitian ini adalah menganalisis pengaruh suku bunga, Pendapatan Domestik Bruto (PDB), kurs, dan ekspor terhadap ULN pada periode 1970-2021. Data sekunder yang digunakan berasal dari sumber seperti International Monetary Fund (IMF), World Bank, Bank Indonesia, Badan Pusat Statistik (BPS), dan Kementerian Keuangan. Variabel yang dianalisis meliputi ULN, PDB, ekspor, suku bunga, dan kurs dalam rentang waktu 1970 hingga 2021. Penelitian ini menggunakan metode Vector Autoregressive (VAR) untuk mengidentifikasi guncangan dari variabel independen yang direspon oleh ULN sebagai variabel dependen. Hasil penelitian menunjukkan bahwa terdapat respon positif dari ULN terhadap gejolak suku bunga dan PDB, dan respon negatif terhadap gejolak kurs dan ekspor. Penguatan kondisi makroekonomi pada stabilitas nilai tukar dan meningkatkan ekspor dapat meningkatkan kepercayaan kreditor dan keberlanjutan ULN. Kata kunci: utang luar negeri; kurs; ekspor; VAR.
Unveiling Regional Growth Patterns Spatial Heterogeneity and Infrastructure Quality under a Bayesian Framework in Central Java Suripto, Suripto; Salim, Agus; Kurniawan, Mahrus Lutfi Adi; Khasanah, Uswatun; Athfal, Azkal Azkiya
Eko-Regional: Jurnal Pembangunan Ekonomi Wilayah Vol 20 No 2 (2025): September 2025
Publisher : Faculty of Economics and Business Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/er.v20i2.17670

Abstract

: This study investigates the impact of infrastructure quality, encompassing roads, clean water distribution, and electricity consumption, on regional economic growth in Central Java from 2018 to 2024. A Bayesian Panel Data Regression model with a hierarchical structure was estimated using the Markov Chain Monte Carlo (MCMC) method, assisted by Python programming, to address spatial heterogeneity, lag effects, and parameter uncertainty. Model validation employed Posterior Predictive Checks (PPC), Bayesian R², R-hat statistics, and Effective Sample Size (ESS). The findings reveal that past GRDP significantly influences current regional economic growth, while the direct effects of infrastructure variables are statistically insignificant. This outcome highlights that infrastructure quality is more important than quantity in promoting development. The study advances empirical methodologies by integrating full posterior inference with predictive validation, representing a state-of-the-art approach in regional economic analysis. The results provide strong evidence in support of formulating infrastructure policies that focus on long-term, sustainable Growth.
The Role of Fiscal Decentralization on Inequality: Evidence from Papua Province Purna, Fitra Pasapawidya; Hardiningsih, Putri; Kurniawan, Mahrus Lutfi Adi; Sukarniati, Lestari; Flejterski, Stanislaw
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 1 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i1.14475

Abstract

High income inequality is generally accompanied by unequal access to education, job training, and business opportunities, limitingemployment opportunities for the poor. One approach that can be applied to resolve this problem is by implementing a fiscal decentralization policy. Papua is one of the regions categorized as 3T (Underdeveloped, Frontier, and Outermost). This condition indicates serious challenges in development in Papua, especially in the aspects of basic infrastructure and fiscal independence. The main contribution of the study is to analyze the role of fiscal decentralization on development in Papua province. Fiscal decentralization plays an important role in promoting regional development, particularly in disadvantaged areas. The study used a panel data approach that combines time-series data (2019-2023) and cross-sectional data (29 regencies and cities) in Papua Province. The results of the study indicate that fiscal decentralization through the General Allocation Fund (DAU) and Special Allocation Fund (DAK) has no effect in reducing inequality rates in Papua Province. It isdue to geographical challenges and the unconditional transfer nature of DAU and DAK. In this case, DAU is mostly used for regional routine expenditures, while the DAK has a long-term effect on infrastructure development, which is the major obstacle in reducing inequality in Papua. This research implies that local governments need to improve the effectiveness of DAU and DAK utilization by prioritizing productive sectors.
Export-led growth and growth-led export in ASEAN: A panel VECM causality analysis Suripto, Suripto; Khasanah, Uswatun; Sukarniati, Lestari; Salim, Agus; Kurniawan, Mahrus Lutfi Adi; Athfal, Azkal Azkiya
Jurnal Ekonomi & Studi Pembangunan Vol. 26 No. 2: October 2025
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v26i2.28357

Abstract

This study examines the bidirectional relationship between exports and economic growth in five ASEAN countries: Indonesia, Malaysia, Thailand, Singapore, and the Philippines. The analysis applies the Export-Led Growth (ELG) and Growth-Led Export (GLE) frameworks using annual panel data from 1971 to 2023. The Vector Error Correction Model (VECM) and panel Granger causality tests are employed to identify short-term dynamics and long-term equilibrium relationships. Stationarity is tested using the Levin-Lin-Chu, Im-Pesaran-Shin, and Phillips-Perron methods, while long-run cointegration is examined using the Kao and Pedroni approaches. The findings confirm a stable long-run relationship between exports and economic growth across ASEAN countries. In the short run, causal directions vary among countries. The Export-Led Growth pattern appears in Indonesia, Singapore, and Thailand, whereas the Growth-Led Export pattern is evident in the Philippines, while Malaysia shows a weaker short-term interaction. Long-run estimates reveal a two-way adjustment mechanism between exports and growth, suggesting that structural differences and trade openness determine the strength and direction of causality. The novelty of this research lies in the simultaneous testing of ELG and GLE hypotheses within a panel-based VECM framework that integrates short-run and long-run dynamics using Python-based econometric modelling. The study contributes new empirical evidence and policy insights for designing context-specific trade and growth strategies across ASEAN economies.
A linkage of welfare: industry, small business, and job creation Suliswanto, Muhammad Sri Wahyudi; Firmansyah, Muhammad; Rofik, Mochamad; Kurniawan, Mahrus Lutfi Adi; Flejterski, Stanislaw
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.29081

Abstract

This study aims to analyze the relationship between industry, small businesses, job creation, and welfare within an integrated analytical framework. This study uses a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) analysis, with primary data obtained from questionnaires distributed to 80 respondents in the industrial area of Gresik Regency, East Java, Indonesia. The results of this study indicate that industry significantly influences welfare, both directly and indirectly through small business development and job creation. In this case, small businesses act as a key mediating variable influencing industry's impact on job opportunities and improved welfare. The novelty of this study lies in the development of an empirical model that simultaneously integrates the roles of industry, small business development, job creation, and welfare within a single analytical framework, using small business and job creation as mediating variables. This research contributes to the development economics literature, particularly on inclusive growth. It provides a policy perspective on the importance of effective integration between industry and small businesses as a strategy for improving public welfare.