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THE IMPACT OF TAX INCENTIVES, INFLATION AND GDP ON FOREIGN DIRECT INVESTMENT IN INDONESIA: A POST – IMPLEMENTATION ANALYSIS OF THE JOB CREATION LAW IMPLEMENTATION No. 11/2020 Putry Sally Angellyta; Sri Setia Ningsih; Yanti Budi Asih; Erion
Cakrawala Pedagogik Vol 9 No 1 (2025): Cakrawala Pedagogik
Publisher : Sekolah Tinggi Keguruan dan Pendidikan Syekh Manshur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51499/cp.v9i1.752

Abstract

This study investigates the impact of tax incentives, inflation, and Gross Domestic Product (GDP) on Foreign Direct Investment (FDI) in Indonesia following the implementation of the Job Creation Law No. 11 of 2020. The research seeks to determine whether these macroeconomic indicators significantly affect FDI inflows in the context of investment oriented regulatory reforms. Employing a quantitative research method, the study uses annual secondary data from 2019 to 2023 sourced from authoritative institutions, including the Indonesia Investment Coordinating Board (BKPM), Central Bureau of Statistics (BPS), Ministry of Finance, Bank Indonesia, and the Directorate General of Taxes. To examine the relationships among the variables, multiple linear regression analysis was conducted using SPSS. The empirical results show that although tax incentives have contributed to stabilizing investment growth in the early stages, their effect on FDI is not statistically significant. This implies that non fiscal determinants such as legal certainty, infrastructure quality, and regulatory consistency play a more substantial role in attracting foreign investors. The analysis also reveals a weak positive association between inflation and FDI, suggesting that inflation alone does not meaningfully influence investment decisions; instead, factors like interest and exchange rates may carry more weight. Additionally, GDP shows an insignificant effect on FDI, indicating that economic growth by itself is insufficient to stimulate foreign capital inflows. Notably, the post-reform period witnessed a notable increase in FDI, implying that comprehensive regulatory adjustments, rather than fiscal policy changes alone, were the primary drivers of investment growth, highlighting the need for an integrated investment strategy.
Firm Value Model in Pharmaceutical Companies Erion; Lili Purnama Sita; Yuli Zain
International Journal of Asian Business and Management Vol. 3 No. 4 (2024): August 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijabm.v3i4.10679

Abstract

This study intends to investigate and fill the knowledge vacuum among academics about the issue wherein leverage is not given priority as a risk factor in relation to institutional ownership and the availability of firm liquidity. Furthermore, investors in the capital market do not perceive leverage to be a major factor. This study uses a quantitative methodology, focusing on chemical businesses listed on the Indonesia Stock Exchange (IDX) over a ten-year period. It does this by using a multiple regression analysis method using panel data. Five companies were chosen through the use of a purposive sampling strategy. Through the use of leverage as an intervening variable, the study aims to maximize Firm Value. Two research models are combined into one, with each passing through different phases of testing for model selection, such as the Lagrange Multiplier, Hausman, and Chow tests. The results of the first model show that while liquidity affects leverage, ownership structure has no effect on it. In the second model, liquidity successfully explains the relationship between ownership structure and firm value. Furthermore, the impact on firm value is not mediated by leverage as an intervening variable. It is expected that these results will function as a roadmap for publicly traded corporations seeking to increase their Firm Value
Analisis Daya Saing Pariwisata Halal di Provinsi Banten Ahmad Darusalam; Amrizal; Erion; Gairah Sinunglingga; Koesmawan
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 4 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i4.1665

Abstract

Indonesia is a country that has natural resources from a variety of cultures and ethnicities. Banten Province has beautiful and religious natural charm, making it a halal tourist destination, both locally and internationally. The aim of the research is to analyze strategies to increase the competitiveness of halal tourism in Banten Province. The research method uses a qualitative descriptive approach with in-depth interview techniques. Primary data was obtained from interviews with competent informants including the Banten Regional People's Representative Council, the Banten Provincial Tourism Office, the Indonesian Ulema Council and several Tourism Associations in Banten. and the Ministry of Tourism and Creative Economy. Qualitative data analysis using NVIVO software. The research results prove that to increase the competitiveness of halal tourism in Banten Province, the Tourism Office has taken strategic steps, including: The strategies used by the Banten provincial government in order to optimize halal tourism, namely conducting comparative studies, e-commerce or digital based tourism, Professional Human Resources Training, Infrastructure Development, Ease of Road Access