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Implementation of digital marketing in open and distance learning universities in Indonesia Gunawan Wiradharma; Irwan Trinugroho; Mario Aditya Prasetyo; Melisa Arisanty
Jurnal Manajemen dan Pemasaran Jasa Vol. 18 No. 1 (2025): Maret
Publisher : Lembaga Penerbit Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25105/v18i1.19551

Abstract

In higher education, particularly within open and distance learning environments such as Universitas Terbuka, integrating digital marketing tools such as e-commerce, social media, and marketplaces is pivotal. These tools play a crucial role in enhancing brand awareness and engaging students. This study explores the strategic application of digital marketing in overcoming barriers traditionally associated with distance learning. A case study methodology was employed to provide an in-depth analysis of digital marketing practices at Universitas Terbuka, using thematic analysis to interpret data gathered from various digital marketing channels. The research identifies three primary facets of digital marketing implementation: search engine optimization, social media engagement, and video marketing. Key challenges include inadequate internet access, limited availability of technological devices, deficits in content creation skills, misalignment of human resources qualifications, and prohibitive advertising costs. This study offers insights into the effective use of digital marketing to improve accessibility and educational delivery in open universities.
Advancing SDGs 1 through Sustainable Microfinance Institutions: The Roles of Competition, Double Bottom Line Performance, and Digitalization. Djoko Karyono; Djoko Suhardjanto; Irwan Trinugroho; Izza Mafruhah
Journal of Current Studies in SDGs Vol. 3 No. 3 (2027): September
Publisher : Sekolah Tinggi Agama Islam Sabilul Muttaqin Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63230/jocsis.3.3.286

Abstract

Objective: The study examines the financial and social performance of microfinance institutions (MFIs) and assesses whether digitalization and its interaction with institution size are associated with operational self-sufficiency and outreach. Method: The analysis uses an unbalanced panel from the MIX Marker database. The descriptive output covers 1999-2019 and contains up to 20,120 institution-year observations. Fixed-effects panel regressions are reported for operational self-sufficiency (OSS) and the number of active borrowers (NAB), with profitability, loan volume, capital adequancy, funding structure, proverty outreach, total assets, and digitalization as explanatory variables. Result: Return on assets in positively associated with OSS, while loan volume is strongly associated with NAB. A higher depositto-loan ratio is linked to stronger OSS. The share of cliencts below the proverty line is positively associated with OSS but negatively associated with NAB. The direct digitalization coefficient and the digitalization-total-assests interaction are statistically insignificant in the reported models. Novelty: The study separates financial sustainability from social outreach and test whether digital maturity changes the size-performance relationship in an international MFI panel. The result show that digital adoption alone does not guarantee stronger double-bottom-line performance.
Optimal portfolio strategy: A stock index-based analysis Darma Saputra; Irwan Trinugroho; Faizul Mubarok
Sebelas Maret Business Review Vol 9, No 2 (2024): December 2024
Publisher : Universitas Sebelas Maret

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/smbr.v9i2.95170

Abstract

The classification of stock indices published by Indonesia Stock Exchange (2021) has resulted in variations of stock indices, whereby a stock index may contain stocks that are the same, similar, or different from other stock indices. Based on the portfolio theory in Hartono (2014) and the Markowitz model in Lutfi and Hendrian (2020), variations or differences in portfolio performance can be influenced by the variations or differences in stock indices. This article analyzes the differences between optimal portfolio performances based on these variations of stock indices. Based on a sample of 88 stocks from 10 stock indices over the last 10 years, divided into 3 data periods of stock price, we found no significant difference between optimal portfolio performances based on stock indices. We also found that no stock index can be the suitest for constructing a portfolio exhibiting optimal performance. Thus, the ability of a stock index to represent the performance of IHSG or whole stocks is the same as other stock indices. In this research, we also found that the line of risk-free returns to optimal portfolio performances, which were constructed without a short-selling approach, did not effectively engage the outermost boundary of the efficient portfolio frontier.                                                
DO ESG RATINGS DRIVE STOCK PERFORMANCE? AN EMPIRICAL STUDY OF INDONESIAN LISTED FIRMS Nur Imamah; Layyin Nafisa Arifin; Ari Darmawan; Irwan Trinugroho; Aurence Dea Krissanti
Jurnal Akuntansi dan Bisnis Vol 25, No 2 (2025)
Publisher : Accounting Study Program, Faculty Economics and Business, Universitas Sebelas Maret

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/jab.v25i2.1643

Abstract

As Indonesia advances its Green Economy and Sustainable Finance initiatives, Environmental, Social, and Governance (ESG) considerations have become increasingly important in corporate evaluation. The Indonesian Stock Exchange (IDX) now provides publicly accessible ESG ratings that significantly influence investor decisions, while the Financial Services Authority (OJK) actively promotes sustainable finance practices. This study examines the relationship between ESG ratings and financial performance among Indonesian publicly listed companies, specifically investigating whether profitability moderates the impact of ESG ratings on stock price performance. Using a quantitative research design, we analyze data from Indonesian public companies listed on the IDX over a defined period. Multiple regression analysis is employed to examine the relationships between ESG ratings, stock price performance, and profitability measures, including return on assets (ROA). Classical assumption tests ensure the validity of our statistical models. We hypothesize that higher ESG ratings positively influence stock price performance, reflecting growing investor preference for companies with strong sustainability practices. Furthermore, we propose that profitability serves as a moderating variable, with highly profitable companies experiencing stronger positive effects from superior ESG ratings compared to less profitable firms. The findings provide valuable insights for multiple stakeholders. Investors can better understand how ESG factors interact with financial performance in the Indonesian market context. Corporate managers can make informed strategic decisions regarding sustainability investments and their potential market impact. Policymakers can assess the effectiveness of current ESG initiatives and develop enhanced regulatory frameworks. This research contributes to the growing literature on ESG financial materiality in emerging markets. 
Co-Authors Afnizal Zulfan Ariffandi Agista Putri Prameswari Agung Nur Probohudono Aina Mardiya Aldy Fariz Achsanta Ari Darmawan Ariefianto, Moch. Doddy Ariefianto, Mochammad Doddy Arifin, Layyin Nafisa Ariyanto Adhi Nugroho Aurence Dea Krissanti Aurio Fajrin Bany Ariffin Amin Noordin Chee, Hong Kok Darma Saputra Dewanti Cahyaningsih Djoko Karyono Djoko Suhardjanto Djoko Suhardjanto Doddy Setiawan Doddy Setiawan Doddy Setiawan Evi Gantyowati Fadli Septianto Fahri, Luki Okta Faizul Mubarok Febby Erianto Nugroho Fitri Susilowati Gunawan Wiradharma Harmadi Harmadi Hermawati, Nofa Hidayah, Ismi Nur Hong Kok Chee Hunik Sri Runing Sawitri Hunik Sri Runing Sawitri Indra Purnama, Muhammad Yusuf Izza Mafruhah Joko Suyono Junivar, Mutiara Syahada Khoiriyah, Siti Koesoemasari, Dian Safitri Pantja Layyin Nafisa Arifin Lian Kee Phua Linggar Ikhsan Nugroho Mario Aditya Prasetyo Melisa Arisanty Moch. Doddy Ariefianto Muh Juan Suam Toro Muhammad Agung Prabowo Muhammad Ahnaf Ammar Qushoyyi Muthmainah Muthmainah Muthmainah Muthmainah Mutiara Nur Hafidiyah, Mutiara Nur Nofa Hermawati Novi Widyawati Nugroho Saputro Nugroho Saputro, Nugroho Nugroho, Linggar Ikhsan Nur Imamah Nur Imamah Oviwasat Nawacatur Pamungkas, Putra Phua, Lian Kee Prameswari, Agista Putri Pratama, Yhoga Heru Purbowo, Gunawan Purnama, Muhammad Yusuf Indra Putra Pamungkas Risal Rinofah Risal Rinofah, Risal Santoso, Arief Budi Sari, Pristin Prima Setyaningtyas Honggowati Sevanrhoo Noya Dean Tanardi Soni Prima Nugroho Sri Hartoko Supriyono Supriyono Surahmi Kando Suryanto - Suryanto Sutaryo Sutaryo Sutaryo Sutaryo Sutaryo Sutaryo TAUFIK ARIFIN Taufiq Arifin Toro, Muh Juan Suam Tulus Haryono Wahyu Widarjo Wisnu Untoro Wisnu Untoro wisnu untoro, wisnu Y. Anni Aryani