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THE EFFECT OF INVESTMENT ON INDONESIA'S ECONOMIC GROWTH WITH GOVERNMENT EXPENDITURES AS A MODERATING VARIABLE Rizal R. Manullang; Evi Sirait; Heppi Syofya; Muhamad Azkia; Iwan Harsono
JURNAL ILMIAH EDUNOMIKA Vol 8, No 2 (2024): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jie.v8i2.13263

Abstract This research is quantitative research with an explanatory approach which uses a number of previous studies such as the five mentioned above as references for finding new variations in the research being carried out. The data used in this research is secondary data that researchers obtained from the annual reports of the Central Statistics Agency from 2004 to 20024 for 20 years. The researchers analyzed these data using the Samrt PLS 4.0 analysis tool with several stages, namely validity testing, reliability testing, and path coefficients which determine whether the hypotheses used in this research can be accepted or not. The result in this article show that the investment variable can have a positive relationship and a significant influence on economic growth because the P-Values have a positive value and are below the 0.05 significance level, namely 0.013.. This means that the more stable, large and well-utilized Indonesia is, the better the economic growth will be. In contrast to the research results above, in the second row of the third table the flow coefficients in this research show different results if the Government Expenditure variable does not have a positive and significant influence on Economic Growth because the P-Values are not below the 0.05 significance level. This means that the greater the Government Expenditure, it does not affect Economic Growth at all because there are still many other factors and variables that need to be considered, such as Good Corporate Governance variables, Education variables, HDI, and so on which make sense in influencing Economic Growth. Based on the explanation above, it can be concluded that the first hypothesis in this research can be accepted and the second hypothesis in this research cannot be accepted. Keywords: Investment, Economic Growth, Government Expenditures

THE INFLUENCE OF EASE OF PAYMENT USING QRIS ON PURCHASING DECISIONS WITH BRAND TRUST AS A MODERATING VARIABLE Elshifa, Aria; Avianita Rachmawati; Muhamad Azkia; Rahmat Aji Nuryakin; Clora Widya Brilliana
JURNAL ILMIAH EDUNOMIKA Vol. 9 No. 1 (2025): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

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

ABSTRACT This study is a quantitative study with an explanatory approach, namely an approach that uses a number of previous studies as the main reference in building assumptions and proving the formulated hypothesis, namely the variable Ease of Payment Using QRIS on Purchasing Decisions and the Brand Trust variable can moderate the influence of these variables. The data used in this study are primary data that researchers obtained from 500 students spread throughout Indonesia. The questionnaire distributed contains 5 statements, namely statements that strongly agree, statements that agree, statements that are normal or possible, statements that disagree, and statements that strongly disagree. The data collected was analyzed using the smart PLS 4.0 analysis tool. Keywords: Ease Of Payment Using Qris, Purchasing Decisions , Brand Trust

Pengaruh Cash Ratio Dan Debt To Equity Ratio Terhadap Dividen Payout Ratio Azkia, Muhamad
GEMA EKONOMI Vol 11 No 4 (2022): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Tujuan penelitian ini yaitu untuk mengetahui pengaruh cash ratio dan debt to equity ratio terhadap dividen payout ratio pada Perusahaan Manufaktur Sub Sektor Farmasi yang Terdapat di Bursa Efek Indonesia. Penelitian ini menggunakan metode kuantitatif dengan menggunakan data sekunder berupa laporan keuangan perusahaan manufaktur sub sektor farmasi periode 2014 Ã¢â‚¬â€œ 2020. Metode analisis yang digunakan dalam penelitian ini adalah uji korelasi sederhana, uji korelasi berganda, uji koefisien determinasi, uji regresi berganda, uji t dan uji F. Hasil pengujian dalam penelitian ini dapat diketahui bahwa cash ratio mempengaruhi dividen payout ratio sebesar 9,6% dengan tingkat korelasi 0,310, serta secara parsial ditunjukkan bahwa cash ratio memiliki nilai P-Value 0,005 dimana nilai probabilitas ini dibawah 0,05. Debt to equity ratio mempengaruhi dividen payout ratio sebesar 0,5% dengan tingkat korelasi 0,070, serta secara parsial debt to equity ratio memiliki nilai P-Value sebesar 0,044 dimana nilai probabilitas ini lebih kecil dari 0,05. Pengaruh simultan antara cash ratio dan debt to equity ratio terhadap dividen payout ratio sebesar 18,6% dengan tingkat korelasi 0,431. Dengan persamaan uji regresi berganda sebagai berikut Y = 0,404 + 0,094 X1 + 0,211X2 serta secara simultan bahwa variabel independen memiliki nilai P-Value 0,018 dimana nilai probabilitas ini dibawah 0,05. Rata rata Nilai cash ratio perusahaan berada pada kategori baik, hal ini menggambarkan baiknya tingkat likuiditas perusahaan, berbanding lurus dengan baiknya rata rata nilai debt to equity ratio yang menggambarkan baiknya tingkat solvabilitas perusahaan, yang mengakibatkan perusahaan manufaktur sub sektor farmasi dapat membayarkan dividen secara konsisten dari tahun ke tahun walaupun ditahun terakhir terdampak pandemi covid -19

Thuggery Practices: Their Impact on Investment Development in Indonesia Rieneke Ryke Kalalo; Sri Sungkowati; Muhamad Azkia; Ade Risna Sari; Asterina Anggraini
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 4 No. I (2025): Jurnal Teknologi dan Manajemen Industri Terapan
Publisher : Yayasan Inovasi Kemajuan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55826/jtmit.v4iI.1060

This study is a qualitative study with a descriptive approach, namely an approach that details the main topics in this article. These main topics include thuggery, investment, and investment decisions. The data used in this study is secondary data obtained by the researcher from various credible sources such as scientific articles, books, scientific magazines, and other sources commonly used in any research. The data used is analyzed through the stages of data collection, data reduction, data selection, and concluding. The result in this article show that the phenomenon of thuggery can damage investment development. The Chairman of the Industrial Estate Association (HKI), Sanny Iskandar, revealed that thuggery hampers investment. He stated that losses amount to hundreds of trillions due to cancelled investments and withdrawals from industrial areas. Investors flee because many community organizations or mass organizations force their involvement in the construction process or factory activities. In addition to Sanny Iskandar's opinion above, the Kompas investigative team's report results found that thuggery in industrial areas is a serious obstacle to investment. This disruption occurs systematically and involves community organizations, officials, and village officials who often use their positions to pressure companies

Pengaruh Literasi Keuangan terhadap Minat Investasi di Pasar Modal Syariah dengan Pendapatan Sebagai Variabel Moderasi:: Studi Pekerja Kabupaten Garut Azkia, Muhamad; Firdaus, Rakhman; Suhenda, Dede Panji; Syam, Muhamad; Guntara, Yudi
Indonesian Research Journal on Education Vol. 5 No. 2 (2025): Irje 2025
Publisher : Fakultas Keguruan dan Ilmu Pendidikan, Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/irje.v5i2.2242

Penelitian ini bertujuan untuk menganalisis dampak literasi keuangan terhadap minat investasi di pasar modal syariah, dengan pendapatan sebagai variabel moderasi pada pekerja di Kabupaten Garut. Dalam konteks ini, literasi keuangan dianggap sebagai faktor penting yang mempengaruhi keputusan investasi, sementara pendapatan berperan sebagai variabel yang dapat memoderasi hubungan antara literasi keuangan dan minat investasi. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik pengambilan sampel purposive sampling pada 100 responden yang berusia 20-24 tahun dan telah memiliki pengalaman berinvestasi sebelumnya. Data dikumpulkan menggunakan kuesioner dan dianalisis dengan metode Structural Equation Modeling (SEM) menggunakan perangkat lunak SmartPLS 4.1. Hasil penelitian menunjukkan bahwa literasi keuangan berpengaruh signifikan terhadap minat investasi, dengan nilai p = 0.030 (<0.05), yang mengindikasikan bahwa hipotesis pertama diterima. Pengaruh literasi keuangan terhadap minat investasi memiliki kekuatan yang lemah dengan nilai koefisien sebesar 0.198. Namun, hipotesis kedua yang menguji pengaruh pendapatan sebagai variabel moderasi terhadap hubungan literasi keuangan dan minat investasi ditolak, karena nilai p untuk interaksi pendapatan dan literasi keuangan adalah 0.380 (>0.05), yang menunjukkan bahwa pendapatan tidak memoderasi hubungan tersebut. Kesimpulan dari penelitian ini adalah literasi keuangan memiliki pengaruh signifikan terhadap minat investasi di pasar modal syariah, tetapi pendapatan tidak berperan sebagai variabel moderasi dalam hubungan tersebut. Penelitian ini memberikan kontribusi penting dalam memahami faktor-faktor yang memengaruhi minat investasi di kalangan pekerja, khususnya dalam konteks pasar modal syariah.

Pengaruh Cash Ratio Dan Debt To Equity Ratio Terhadap Dividen Payout Ratio Azkia, Muhamad
GEMA EKONOMI Vol 11 No 4 (2022): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Tujuan penelitian ini yaitu untuk mengetahui pengaruh cash ratio dan debt to equity ratio terhadap dividen payout ratio pada Perusahaan Manufaktur Sub Sektor Farmasi yang Terdapat di Bursa Efek Indonesia. Penelitian ini menggunakan metode kuantitatif dengan menggunakan data sekunder berupa laporan keuangan perusahaan manufaktur sub sektor farmasi periode 2014 Ã¢â‚¬â€œ 2020. Metode analisis yang digunakan dalam penelitian ini adalah uji korelasi sederhana, uji korelasi berganda, uji koefisien determinasi, uji regresi berganda, uji t dan uji F. Hasil pengujian dalam penelitian ini dapat diketahui bahwa cash ratio mempengaruhi dividen payout ratio sebesar 9,6% dengan tingkat korelasi 0,310, serta secara parsial ditunjukkan bahwa cash ratio memiliki nilai P-Value 0,005 dimana nilai probabilitas ini dibawah 0,05. Debt to equity ratio mempengaruhi dividen payout ratio sebesar 0,5% dengan tingkat korelasi 0,070, serta secara parsial debt to equity ratio memiliki nilai P-Value sebesar 0,044 dimana nilai probabilitas ini lebih kecil dari 0,05. Pengaruh simultan antara cash ratio dan debt to equity ratio terhadap dividen payout ratio sebesar 18,6% dengan tingkat korelasi 0,431. Dengan persamaan uji regresi berganda sebagai berikut Y = 0,404 + 0,094 X1 + 0,211X2 serta secara simultan bahwa variabel independen memiliki nilai P-Value 0,018 dimana nilai probabilitas ini dibawah 0,05. Rata rata Nilai cash ratio perusahaan berada pada kategori baik, hal ini menggambarkan baiknya tingkat likuiditas perusahaan, berbanding lurus dengan baiknya rata rata nilai debt to equity ratio yang menggambarkan baiknya tingkat solvabilitas perusahaan, yang mengakibatkan perusahaan manufaktur sub sektor farmasi dapat membayarkan dividen secara konsisten dari tahun ke tahun walaupun ditahun terakhir terdampak pandemi covid -19

Thuggery Practices: Their Impact on Investment Development in Indonesia Rieneke Ryke Kalalo; Sri Sungkowati; Muhamad Azkia; Ade Risna Sari; Asterina Anggraini
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 1 No. I (2022): Jurnal Teknologi dan Manajemen Industri Terapan
Publisher : Yayasan Inovasi Kemajuan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55826/jtmit.v4iI.1060

This study is a qualitative study with a descriptive approach, namely an approach that details the main topics in this article. These main topics include thuggery, investment, and investment decisions. The data used in this study is secondary data obtained by the researcher from various credible sources such as scientific articles, books, scientific magazines, and other sources commonly used in any research. The data used is analyzed through the stages of data collection, data reduction, data selection, and concluding. The result in this article show that the phenomenon of thuggery can damage investment development. The Chairman of the Industrial Estate Association (HKI), Sanny Iskandar, revealed that thuggery hampers investment. He stated that losses amount to hundreds of trillions due to cancelled investments and withdrawals from industrial areas. Investors flee because many community organizations or mass organizations force their involvement in the construction process or factory activities. In addition to Sanny Iskandar's opinion above, the Kompas investigative team's report results found that thuggery in industrial areas is a serious obstacle to investment. This disruption occurs systematically and involves community organizations, officials, and village officials who often use their positions to pressure companies

THE EFFECT OF INVESTMENT ON INDONESIA'S ECONOMIC GROWTH WITH GOVERNMENT EXPENDITURES AS A MODERATING VARIABLE Manullang, Rizal R.; Sirait, Evi; Syofya, Heppi; Azkia, Muhamad; Harsono, Iwan
JURNAL ILMIAH EDUNOMIKA Vol. 8 No. 2 (2024): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jie.v8i2.13263

Abstract This research is quantitative research with an explanatory approach which uses a number of previous studies such as the five mentioned above as references for finding new variations in the research being carried out. The data used in this research is secondary data that researchers obtained from the annual reports of the Central Statistics Agency from 2004 to 20024 for 20 years. The researchers analyzed these data using the Samrt PLS 4.0 analysis tool with several stages, namely validity testing, reliability testing, and path coefficients which determine whether the hypotheses used in this research can be accepted or not. The result in this article show that the investment variable can have a positive relationship and a significant influence on economic growth because the P-Values have a positive value and are below the 0.05 significance level, namely 0.013.. This means that the more stable, large and well-utilized Indonesia is, the better the economic growth will be. In contrast to the research results above, in the second row of the third table the flow coefficients in this research show different results if the Government Expenditure variable does not have a positive and significant influence on Economic Growth because the P-Values are not below the 0.05 significance level. This means that the greater the Government Expenditure, it does not affect Economic Growth at all because there are still many other factors and variables that need to be considered, such as Good Corporate Governance variables, Education variables, HDI, and so on which make sense in influencing Economic Growth. Based on the explanation above, it can be concluded that the first hypothesis in this research can be accepted and the second hypothesis in this research cannot be accepted. Keywords: Investment, Economic Growth, Government Expenditures

Obligasi hijau: tantangan dan peluang untuk pembangunan berkelanjutan di Indonesia Azkia, Muhamad
Co-Creation : Jurnal Ilmiah Ekonomi Manajemen Akuntansi dan Bisnis Vol. 4 No. 3 (2025): Co-Creation : Jurnal Ilmiah Ekonomi Manajemen Akuntansi dan Bisnis (In Progress
Publisher : ARKA INSTITUTE

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55904/cocreation.v4i3.1986

Pendanaan perubahan iklim di Indonesia menghadapi kesenjangan pembiayaan yang signifikan, di mana anggaran negara tidak mampu menanggung beban target Net Zero Emission secara mandiri. Penelitian ini bertujuan untuk menganalisis ekosistem obligasi hijau (green bond) dan sukuk hijau sebagai instrumen pembiayaan alternatif, dengan fokus pada tantangan struktural dan peluang pasar. Menggunakan metode kualitatif melalui pendekatan studi kepustakaan dan sintesis data komparatif ASEAN, penelitian ini menemukan adanya paradoks kinerja pasar. Penerbitan instrumen negara (sovereign) tumbuh pesat didorong oleh legitimasi regulasi, namun pasar korporasi mengalami stagnasi akibat tingginya biaya transaksi dan asimetri informasi (agency costs). Temuan juga mengungkap besarnya potensi investor ritel domestik yang belum tergarap optimal. Kesimpulan penelitian ini menekankan bahwa regulasi yang ada saat ini masih bersifat administratif. Diperlukan reformasi kebijakan berupa insentif fiskal konkret dan subsidi biaya sertifikasi untuk mendorong partisipasi sektor swasta, sehingga tercipta ekosistem keuangan berkelanjutan yang inklusif dan tidak hanya bergantung pada inisiatif pemerintah.

THE EFFECT OF DIGITALIZATION OF COMPANY SYSTEMS ON EMPLOYEE PERFORMANCE WITH TALENT MANAGEMENT AS A MODERATING VARIABLE Dita Dismalasari Dewi; HM. Saiful Bahri; Muhamad Azkia; Adi Suroso; Agung Widarman
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 1 No. 10 (2024): INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Publisher : Adisam Publisher

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

This research is quantitative research with an exploratory approach, namely an approach that uses a number of previous studies as a fundamental foundation to strengthen the argumentation construction in this. The data used in this research is primary data obtained from Maspion employees throughout Indonesia. The data in the research were analyzed using the smart PLS 4.0 analysis tool. The result in this article show that the researcher's assumptions used as hypotheses are acceptable because the P-Values are below 0.05, namely 0.005 and lead to positive. This is due to the simplicity of the system, ease of completing work, and other things that employees feel as a result of the digitalization of the company's system. This is in line with previous research. Apart from that, the second hypothesis in this research can also be proven because the P-Vlaues value is positive and is below the 0.05 significance level, namely 0.000. This means that good talent management can produce and maintain good quality human resources, can use technology well, can take advantage of good digitalization of the Company's systems, and will have a good impact on employee performance. Thus the first and second hypotheses in this article can be proven.

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