Rendy Mirwan Aspirandi
Muhammadiyah University of Jember, Indonesia

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STRENGTHENING FINANCIAL GOVERNANCE THROUGH DIGITAL PAYMENT SYSTEMS FOR THE SUSTAINABLE GROWTH OF MSMES IN JEMBER CITY Moh. Halim; Riyanto Setiawan Suharsono; Rendy Mirwan Aspirandi
Journal of Economic and Economic Policy Vol. 3 No. 2 (2026): Journal of Economics and Economic Policy
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijecep.v3i2.119

Abstract

Objective: This study aims to examine the role of digital payment systems in strengthening financial governance and promoting sustainable growth among micro, small, and medium-sized enterprises (MSMEs) in Jember City. Method: The research employed a quantitative approach with a correlational design, involving 150 MSME respondents selected through purposive sampling, and utilized structured questionnaires based on a Likert scale. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) to evaluate both the measurement and structural models, including hypothesis testing and mediation analysis. Results: The results indicate that digital payment systems significantly enhance financial governance, which partially mediates the relationship between digital payment adoption and the sustainable growth of MSMEs. Novelty: These findings suggest that integrating digital payment technologies with effective financial governance mechanisms contributes to improved operational transparency, accountability, and long-term business sustainability, thereby offering theoretical, practical, and policy implications for MSMEs and relevant stakeholders.
Mapping Corporate Governance in Indonesia: A Guide for Future Research Moh. Halim; Rendy Mirwan Aspirandi; Riyanto Setiawan Suharsono
JKEN: Jurnal Kajian Ekonomi Nasional Vol 1 No 1 (2025): Jelajah Ekonomi: Jurnal Ekonomi dan Bisnis Indonesia
Publisher : PT Bukuloka Literasi Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65307/je.v1i1.21

Abstract

The implementation of Good Corporate Governance (GCG) in Indonesia faces various challenges despite the existing regulations. Key issues include transparency, accountability, and the strong political influence in corporate decision-making. This study aims to analyze the application of GCG principles in Indonesia, identify the barriers, and provide recommendations for strengthening the effective implementation of governance. Using a narrative review approach, this research examines various previous studies related to corporate governance in Indonesia. The findings show that, although GCG regulations in Indonesia have evolved, their implementation is often hindered by weak oversight, political influence, and discrepancies between theory and practice. Additionally, the findings underscore the importance of the roles of the board of commissioners, audit committees, and external oversight in improving GCG implementation in Indonesia. This study contributes by enhancing the understanding of the gap between corporate governance theory and practice in Indonesia and offers more practical recommendations for policymakers and practitioners to improve corporate transparency and accountability. The research also provides new insights into the development of governance theories more relevant to Indonesia's context. Keywords: Good Corporate Governance, Transparency, Accountability, Political Influence, Indonesia, Narrative Review