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The Influence Of Inflation and Interest Rates and The Rupiah Exchange Rate On The Composite Stock Price Index in Indonesia Andika Triwardana; Akbar Lufi Zulfikar; Selly Swandari
International Journal of Economics and Management Research Vol. 4 No. 1 (2025): : International Journal of Economics and Management Research
Publisher : Pusat Riset dan Inovasi Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/ijemr.v4i1.311

Abstract

This study aims to analyze the influence of macroeconomic variables, namely inflation, interest rates (BI Rate), and the Rupiah exchange rate on the Composite Stock Price Index (JCI) in Indonesia as the main indicator of the capital market. The problem in this study is to determine the extent to which the three variables affect the movement of the JCI. The data used is secondary data from 2015 to 2024 obtained from Bank Indonesia, the Central Bureau of Statistics, and the Indonesia Stock Exchange. The method used in this research is multiple linear regression analysis with the help of Eviews 12 software. The results showed that partially inflation has a positive but insignificant effect on the JCI, with a significance value of 0.9037. Interest rates have a negative and significant effect on the JCI, with a significance value of 0.0436, indicating that an increase in interest rates tends to reduce the JCI. The Rupiah exchange rate has a positive and significant effect on the JCI, indicated by a significance value of 0.0042, which means that the appreciation of the exchange rate encourages an increase in the JCI. Simultaneously, the three variables have a significant effect on the JCI, with an F-statistic probability value of 0.020178. This finding confirms that fluctuations in interest rates and exchange rates play an important role in influencing the Indonesian stock market, while the influence of inflation tends to be weak. The conclusion of this study is that interest rates and exchange rates are significant macroeconomic indicators that need to be considered in investment strategies and economic policies. The R-squared value of 0.783985 indicates that the three variables of inflation, interest rates and rupiah exchange rate contribute 78.39% to the IHSG, while the remaining 21.61% is influenced by other factors.
Evaluation of the Effectiveness of Income Tax Policy in the era of Globalization Loso Judijanto; Olyvia Rosalia; Selly Swandari; Firayani Firayani
Nomico Vol. 2 No. 1 (2025): Nomico-February
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/jz6s6d60

Abstract

Tax policies play a crucial role in shaping economic growth and investment decisions in an increasingly globalized world. This study examines the impact of globalization on national tax policies, focusing on tax competition, corporate taxation, and the challenges of maintaining revenue stability. Globalization has intensified tax competition among countries, often leading to reduced corporate tax rates to attract foreign investments. While tax incentives can stimulate economic activity, they may also erode government revenues and create disparities in tax burdens. This research explores the role of international tax treaties in harmonizing tax regulations and reducing tax avoidance strategies by multinational corporations. Furthermore, the study highlights the transition from income-based to consumption-based taxation as a response to shifting economic dynamics. The findings suggest that policymakers must balance tax competitiveness with sustainable revenue generation to ensure economic stability. By analyzing recent tax reforms and policy adaptations, this study provides insights into the complexities of taxation in a globalized economy and offers recommendations for future tax strategies.
Ketergantungan Sumber Daya Alam dan Pertumbuhan Ekonomi Daerah Di Indonesia Imelda Veronica Gea; Selly Swandari; Akbar Lufi Zulfikar; Nurjanana, Nurjanana
J-CEKI : Jurnal Cendekia Ilmiah Vol. 5 No. 3: April 2026
Publisher : CV. ULIL ALBAB CORP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/j-ceki.v5i3.16503

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh ketergantungan sumber daya alam (SDA), kemiskinan, pengangguran, dan Indeks Pembangunan Manusia (IPM) terhadap laju pertumbuhan ekonomi daerah di Indonesia. Data yang digunakan merupakan data panel seimbang dari 33 provinsi di Indonesia pada periode 2020 –2024. Metode analisis yang digunakan adalah Fixed Effect Model (FEM) yang dipilih berdasarkan hasil Uji Chow dan Uji Hausman. Hasil penelitian menunjukkan bahwa SDA berpengaruh positif dan signifikan terhadap pertumbuhan ekonomi, pengangguran berpengaruh negatif dan signifikan, IPM berpengaruh positif dan signifikan, sedangkan kemiskinan tidak berpengaruh signifikan terhadap pertumbuhan ekonomi daerah. Model secara simultan signifikan dengan nilai Adjusted R² sebesar 50,53% yang menunjukkan kemampuan variabel independen dalam menjelaskan variasi pertumbuhan ekonomi daerah.
SOSIALISASI VIDEO PANDUAN PENGGUNAAN APLIKASI MENDELEY UNTUK MAHASISWA Selly Swandari; Akbar Lufi Zulfikar
Jurnal Pengabdian Masyarakat Vol. 2 No. 1 (2025): Pengabdian Masyarakat
Publisher : Jurnal Pengabdian Masyarakat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62207/ksymk392

Abstract

Dalam dunia akademis, manajemen referensi yang efektif merupakan aspek penting dalam penulisan ilmiah. Aplikasi Mendeley menjadi solusi utama untuk membantu mahasiswa dalam mengorganisasikan, menyimpan, dan mengutip referensi secara otomatis. Penelitian ini membahas tentang pelaksanaan program sosialisasi penggunaan Mendeley bagi mahasiswa Universitas Mulawarman yang bertujuan untuk meningkatkan pemahaman dan keterampilan mereka dalam manajemen referensi. Metode yang digunakan dalam kegiatan ini meliputi ceramah dan diskusi interaktif, yang ditujukan kepada mahasiswa tingkat akhir. Hasil evaluasi menunjukkan bahwa 90% peserta berhasil memahami dan mengoperasikan Mendeley, meskipun terdapat kendala seperti keterbatasan akses internet dan kompatibilitas perangkat. Pelatihan ini diharapkan dapat membantu mahasiswa dalam mengoptimalkan Mendeley dalam penulisan akademis mereka, sehingga dapat meningkatkan kualitas dan kredibilitas penelitian mereka.
Pemanfaatan Pekarangan Rumah Untuk Budidaya Sayuran Sebagai Alternatif Usaha Sampingan Di Desa Loa Janan Ulu Kecamatan Loa Janan Kabupaten Kutai Kartanegara Nurfiza Widayati; Selly Swandari; Akbar Lufi Zulfikar; Indra Maulana; Swadia Gandhi Mahardika
AMMA : Jurnal Pengabdian Masyarakat Vol. 3 No. 9 : Oktober (2024): AMMA : Jurnal Pengabdian Masyarakat
Publisher : CV. Multi Kreasi Media

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

Abstract

The use of home gardens for vegetable cultivation in Loa Janan Ulu Village reflects the community's efforts to develop sustainable side businesses. With limited land area in the home gardens, villagers use it efficiently to grow vegetables. This aims to meet family food needs, improve welfare, and create alternative livelihoods. Loa Janan Ulu Village, located in Kutai Kartanegara Regency, has good agricultural potential, but limited land encourages people to use home gardens as fertile fields for various types of vegetables. Cultivating vegetables in home gardens provides double benefits, namely providing a supply of fresh vegetables for daily consumption needs and generating potential additional income through the sale of the harvest. The use of organic and environmentally friendly farming methods is increasingly being implemented by the community, creating a sustainable agricultural system and maintaining the sustainability of the surrounding environment. In addition, vegetable cultivation activities in home gardens also have the potential to increase food security and reduce dependence on supplies from outside the region. With initiatives like this, the people of Loa Janan Ulu Village not only act as consumers, but also as local vegetable producers who can contribute to the development of the local economy. The local government can support this effort by providing agricultural training, access to markets, and other supporting facilities to increase the productivity and sustainability of vegetable cultivation businesses in home gardens. The delivery method used is face-to-face lectures and discussing case studies of preparing business plans in the agricultural sector by visiting the location of the farming business in managing home gardens into a place of business that has economic value directly in Loa Janan, then continued with discussions and questions and answers. The equipment used includes a laptop and a photo camera for taking documentation. The results of this community service activity are expected to increase the income of vegetable farmers and this business will continue to grow and become a business that provides the main income to farmers in Loa Janan Ulu Village, Loa Janan District, Kutai Kartanegara Regency. The results of this vegetable farming business will be sold to the local market and the demand for this vegetable production is very high because it is a complement to the staple food of the local community. With the material on developing vegetable farming businesses to utilize home gardens that has been delivered, it is hoped that PKM participants, namely vegetable farmers, will be able to manage their businesses well so that they get maximum turnover in the future.
Edukasi Bahaya Investasi Ilegal Dan Pinjaman Online Ilegal Di Kecamatan Sangatta Kabupaten Kutai Timur Akbar Lufi Zulfikar; Selly Swandari; Swadia Gandhi Mahardika; Priskila Angel
AMMA : Jurnal Pengabdian Masyarakat Vol. 3 No. 10 : November (2024): AMMA : Jurnal Pengabdian Masyarakat
Publisher : CV. Multi Kreasi Media

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Abstract

The success of the implementation of socialization activities about online loans in Sangatta District, East Kutai Regency is due to supporting factors, including: 1. The great desire of the community to know and understand the material on the definition of personal data protection, personal data protection regulations; 2. There is support from leaders in Sangatta District, East Kutai Regency. In the implementation of this activity as a whole, it can reduce inhibiting factors, but these inhibiting factors also arise, including some participants who are not serious because they are not used to sitting for hours so that some shout and talk to each other with other participants, some enter and leave the room without permission.
Pengaruh Belanja Daerah dan Deviden Atas Penyertaan Modal Pemerintah Daerah Terhadap Produk Domestik Regional Bruto dan Desentralisasi Fiskal Kabupaten Kutai Timur Nurfiza Widayati; Selly Swandari; Akbar Lufi Zulfikar
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 3 No. I (2024): 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.v5i2.1713

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh belanja daerah dan dividen atas penyertaan modal pemerintah daerah terhadap Produk Domestik Regional Bruto (PDRB) dan derajat desentralisasi fiskal di Kabupaten Kutai Timur selama periode 2011–2022. Penelitian menggunakan data sekunder time series yang diperoleh dari Badan Pengelola Keuangan dan Aset Daerah, Badan Pendapatan Daerah, dan Badan Pusat Statistik Kabupaten Kutai Timur. Analisis dilakukan melalui dua sub-struktur persamaan untuk menguji hubungan langsung dan tidak langsung antarvariabel. Variabel belanja daerah, dividen, dan PDRB ditransformasi ke dalam logaritma natural, sedangkan derajat desentralisasi fiskal diukur menggunakan rasio Pendapatan Asli Daerah (PAD) terhadap total penerimaan daerah. Hasil penelitian menunjukkan bahwa belanja daerah berpengaruh positif dan signifikan terhadap PDRB, sementara dividen atas penyertaan modal berpengaruh positif tetapi belum signifikan. Pada model derajat desentralisasi fiskal, belanja daerah, dividen, dan PDRB belum menunjukkan pengaruh yang signifikan secara statistik. Temuan ini menunjukkan bahwa instrumen fiskal daerah lebih berperan dalam mendorong aktivitas ekonomi regional daripada dalam meningkatkan kemandirian fiskal daerah. Penelitian ini menegaskan pentingnya peningkatan kualitas belanja publik, optimalisasi kinerja BUMD, dan penguatan basis PAD untuk mendukung pembangunan daerah yang lebih berkelanjutan.
The Impact of Non-Cash Payment Systems on Inflation in Indonesia Akbar Lufi Zulfikar; Selly Swandari; Swadia Gandhi Mahardika; Imelda Veronica Gea
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 5 No. 1 (2026): 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.v5i1.1629

Abstract

This study investigates the impact of non-cash payment systems on inflation in Indonesia, focusing on three major instruments: ATM cards, credit cards, and electronic money (e-money). The rapid development of digital payment technologies has transformed consumer behavior and the circulation of money, potentially influencing the country’s inflation dynamics. Using a quantitative research approach and multiple linear regression analysis, this study examines monthly data from 2022 to 2024 to assess how different non-cash transactions affect inflation. The empirical findings reveal that ATM card transactions have a positive and statistically significant effect on inflation, indicating that higher ATM transaction volumes are associated with increased consumer spending. Conversely, credit card transactions demonstrate a negative but significant effect, suggesting that deferred payments may moderate inflationary pressures. Meanwhile, e-money transactions have a negative yet insignificant effect, implying limited influence given their lower transaction volume compared to other instruments. Overall, the results highlight that the impact of non-cash payment systems on inflation varies across payment types and their intensity of use, providing valuable insights for policymakers in managing monetary stability amid the growing digitalization of financial systems.
Fiscal Decentralization and Regional Financial Independence in Indonesia: A Systematic Literature Review Selly Swandari; Andriawan Kustiawan; Imelda Veronica Gea; Akbar Lufi Zulfikar
Journal of International Multidisciplinary Research Vol. 4 No. 5 (2026): Mei 2026
Publisher : PT. Banjarese Pacific Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62504/jimr1564

Abstract

This study examines the development of fiscal decentralization and its relationship to regional financial independence in Indonesia through a systematic literature review. The objective is to synthesize empirical and conceptual findings published between 2017 and 2026 concerning the determinants, measurement, and consequences of regional financial independence, particularly the role of local own-source revenue (PAD), intergovernmental transfers, and capital expenditure. Using a systematic search of Scopus, Google Scholar, and Garuda databases, 30 relevant articles were screened, selected, and analyzed following defined inclusion and exclusion criteria. The review finds that fiscal decentralization consistently strengthens local revenue mobilization and administrative accountability when accompanied by adequate institutional capacity, transparent governance, and effective management of natural and economic resources. However, the effectiveness of decentralization varies considerably across regions due to disparities in economic potential, human resources, and political commitment. The synthesis further shows that financial independence positively affects the quality of public services and regional economic growth, although the relationship is moderated by expenditure efficiency and governance quality. The novelty of this review lies in its integrative framework linking revenue-side determinants, expenditure behavior, and governance mechanisms within a single analytical narrative, an integration rarely addressed jointly in prior single-country studies. The findings offer practical implications for policymakers designing fiscal transfer formulas and for future researchers seeking to test moderating variables such as digitalization and institutional quality in the fiscal decentralization–financial independence nexus.
PENGARUH KUALITAS PRODUK DAN KUALITAS LAYANAN SHOPEE MALL TERHADAP KEPUTUSAN PEMBELIAN KONSUMEN Antonius Felix; Selly Swandari; Akbar Lufi Zulfikar
JATI (Jurnal Mahasiswa Teknik Informatika) Vol. 10 No. 1 (2026): JATI Vol. 10 No. 1
Publisher : Institut Teknologi Nasional Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36040/jati.v10i1.16709

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh kualitas produk dan kualitas layanan Shopee Mall terhadap keputusan pembelian konsumen, dengan mempertimbangkan metode penelitian dan temuan dari penelitian terdahulu. Penelitian ini menggunakan metode kuantitatif dengan pendekatan survei yang melibatkan responden konsumen Shopee Mall. Hasil penelitian menunjukkan bahwa baaik kualitas produk maupun kualitas layanan memiliki pengaruh positif dan signifikan terhadap keputusan pembelian konsumen. Kualitas produk terbukti memiliki pengaruh yang lebih kuat dibandingkan dengan kualitas layanan. Penelitian ini juga mengkaji hasil dari penelitian terdahulu yang sejalan dengan temuan ini, memperkuat kesimpulan bahwa peningkatan kualitas produk dan layanan sangat penting untuk meningkatkan kepuasan dan keputusan pembelian konsumen.