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All Journal Syntax Literate: Jurnal Ilmiah Indonesia Journal of Economics and Business UBS Journal Research of Social Science, Economics, and Management
Hinsa, Davy Parsaoran
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Humanities Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Circular Economy in Indonesia: A Comparative Study of EU Countries and Finland Hinsa, Davy Parsaoran; Ezra, Oskar; Pardede, Ratlan
Journal Research of Social Science, Economics, and Management Vol. 4 No. 10 (2025): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v4i10.853

Abstract

The circular economy has become an alternative paradigm to support sustainable economic growth to address the challenges of natural resources and environmental impacts of the linear economic model. This study aims to analyze the potential of the circular economy in supporting the 8% economic growth target in Indonesia based on government policies, by comparing the European Union (EU) and Finland as a reference for developed countries. A qualitative approach is used through the analysis of policy documents such as Indonesia's National Medium-Term Development Plan (RPJMN) 2020-2024, the EU's Circular Economy Action Plan (CEAP) 2020, and Finland's National Circular Economy Roadmap, as well as secondary data and literature reviews from academic sources and official reports. The results show that Indonesia has great potential in the circular economy, with a projected contribution to the Gross Domestic Product (GDP) of (42-45) billion USD and the creation of 4.4 million jobs by 2030. However, its implementation lags far behind the EU and Finland in terms of efficiency and economic output. Indonesia only achieved a recycling rate of 15%, while the EU recorded 48.6% and Finland 43%. The contribution of the circular economy to Indonesia's GDP is projected to be only (2.2-2.3%), far from the target of 8%, compared to the EU (10.6%) and Finland (10%). This gap is caused by limited infrastructure, weak regulations, and a lack of technological innovation in Indonesia. The EU excels with structured policies and systemic coordination, while Finland excels in technological innovation albeit on a small scale.
Pengaruh Faktor Internal dan Eksternal Terhadap Return Saham (Studi Kasus Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2020) Sebelum dan Sesudah Pandemi Covid-19 Hinsa, Davy Parsaoran; Meiranda, Meiranda; Pardede, Ratlan
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36418/syntax-literate.v9i8.17260

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh faktor internal dan eksternal terhadap Return Saham. Adapun faktor internalnya meliputi : Return on Equity, Net Interest Margin, Loan Deposit Ratio, dan Net Performing Loan, sedangkan faktor eksternalnya meliputi : Tingkat Inflasi, Cryptocurrency, Nilai Tukar, dan dummy pandemi. Populasi dalam penelitian ini adalah sektor perbankan yang terdaftar di Bursa Efek Indonesia selama periode tahun 2015-2020. Terdapat 16 Bank sebagai representase sampel dalam studi ini dan menggunakan teknik pengumpulan data yaitu purposive sampling. Jenis penelitian ini menggunakan kuantitatif deskriptif dan data dianalisis menggunakan Eviews 10. Hasil akhir dalam penelitian ini menunjukkan bahwa faktor internal seperti ROE berpengaruh positif dan signifikan terhadap return saham, NIM berpengaruh negatif tetapi tidak signifikan terhadap return saham, LDR berpengaruh negatif dan signifikan terhadap return saham, NPL berpengaruh positif tetapi tidak signifikan terhadap return saham. Selanjutnya faktor eksternal seperti Tingkat inflasi berpengaruh negatif dan tidak signifikan terhadap return saham, Cryptocurrency berpengaruh positif dan signifikan terhadap return saham, Nilai Tukar berpengaruh negatif dan signifikan terhadap return saham, dan dummy dengan kategori sebelum dan sesudah pandemi berpengaruh positif dan signifikan terhadap return saham.
The Impact of Firm Size Moderates the Influence of Capital Structure, Operating Capacity, Liquidity Hinsa, Davy Parsaoran; Titerlie, Indriana; Imanuel, Mark Fritz
Journal of Economics and Business UBS Vol. 15 No. 2 (2026): Journal of Economics and Business UBS
Publisher : Cv. Syntax Corporation Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52644/teagyq45

Abstract

Financial distress has become a critical global concern affecting firms across industries, particularly in the post-pandemic economic recovery period characterized by supply chain disruptions, volatile exchange rates, inflationary pressures, and shifting consumer behaviors. In Indonesia, the transportation and logistics sector has experienced significant financial challenges during 2022–2024, with several listed companies reporting consecutive losses and deteriorating liquidity positions, raising urgent questions about the determinants of financial distress and the protective or amplifying role of firm-specific characteristics. This study aims to analyze the impact of firm size moderating the influence of capital structure, operating capacity, liquidity on financial distress in transportation and logistics sector companies listed on the Indonesia Stock Exchange for the period 2022–2024. This study uses a quantitative approach with a causal-effect research design, where the sample is determined through purposive sampling and data sources are obtained from annual financial reports and company sustainability reports. Data processing uses Stata with moderated regression analysis. The results indicate that capital structure and operating capacity have an insignificant effect on financial distress, while liquidity has a negative and significant effect on financial distress. Meanwhile, the indirect relationship shows that firm size has no moderating effect on the influence of operating capacity or capital structure on financial distress, while firm size has a moderating or strengthening effect on the influence of liquidity on financial distress.
Co-Authors Ezra, Oskar Imanuel, Mark Fritz Meiranda, Meiranda Ratlan Pardede Titerlie, Indriana