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All Journal Ekasakti Jurnal Penelitian dan Pengabdian (EJPP) Jurnal Teknologi dan Manajemen Industri Terapan
Darmun
Universitas Nahdlatul Ulama Cirebon
Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Engineering Industrial & Manufacturing Engineering Library & Information Science Public Health

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Implementation Of Green Human Resource Management In Improving Green Brand Image: The Role of Environmental Behavior As A Moderating Variable Soni Suardi; Muhamad Risal Tawil; Muhammad Faizul Husnayain; Tono Wartono; Darmun
Jurnal Teknologi dan Manajemen Industri Terapan Vol. 5 No. 2 (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.v5i2.1825

Abstract

This study aims to analyze the volatility dynamics and spillover phenomena among major crypto assets (Bitcoin, Solana, and Ethereum) and their relationship with the Jakarta Composite Index (JCI), a proxy for the Indonesian capital market. In the era of digital financial integration, the link between speculative crypto asset markets and conventional stock markets is a crucial issue for financial system stability. This study uses daily price time series data for the period 2020-2025. The analysis was conducted using the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model and the Diebold-Yilmaz spillover index approach to measure the magnitude of shock transmission between markets. The results indicate significant volatility transmission between the three crypto assets, with Bitcoin remaining the primary volatility transmitter. Furthermore, this study finds an increasing dynamic correlation between the global crypto market and the Indonesian capital market during periods of economic uncertainty. These findings have important implications for investors in portfolio diversification strategies and for Indonesian regulators in monitoring systemic risks originating from digital assets.
TINJAUAN LITERATUR TENTANG SISTEM EKONOMI DAN DAMPAKNYA TERHADAP STABILITAS KEUANGAN: FOKUS PADA INFLASI DAN HUTANG Affandy Agusman Aris; Loso Judijanto; Darmun; Triani patra pertiwi; Muhammad Hendra
Ekasakti Jurnal Penelitian dan Pengabdian Vol. 4 No. 2 (2024): Ekasakti Jurnal Penelitian dan Pengabdian
Publisher : LPPM Universitas Ekasakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31933/ejpp.v4i2.1176

Abstract

This study aims to explore how the economic system, through the mechanisms of inflation and debt, can impact financial stability, focusing on the interaction between inflation, debt, and financial stability. This research is a literature review concentrating on both theoretical and empirical analyses of the relationship between the economic system, specifically inflation and debt factors, and financial stability. The results show that financial stability is a condition where the financial system including institutions, markets, and infrastructure functions optimally and can absorb economic shocks without significantly disrupting economic activity. This stability supports efficient resource allocation, economic growth, and investor confidence, with the capacity to manage risks effectively. However, financial stability can be disrupted by uncontrolled inflation, excessive debt, and imbalances in the economic system. High inflation can erode purchasing power and increase borrowing costs, while excessive debt raises the risk of default and slows economic growth. The interaction between inflation and debt complicates financial stability, as high inflation may reduce the real value of debt but also increase borrowing costs. Global financial crises, such as the 2007-2008 Financial Crisis, the European Debt Crisis, and the 2021-2023 Energy Crisis, underscore the need for effective policies in managing inflation and debt to maintain financial stability and support sustainable economic growth.
Co-Authors Affandy Agusman Aris Loso Judijanto Muhamad Risal Tawil Muhammad Faizul Husnayain Muhammad Hendra Soni Suardi Tono Wartono Triani Patra Pertiwi