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Analysis of Digital Infrastructure Competitive Advantage through Capital Raising Strategy: VRIO Case Study at PT Sinergi Inti Andalan Prima Tbk (INET) Muhammad Fathurrahman; Dini Mustika Buana Putri; Jufri Yandes
Ilmu Ekonomi Manajemen dan Akuntansi Vol. 7 No. 1 (2026): Jurnal Ilmu Ekonomi Manajemen dan Akuntansi
Publisher : Universitas Mohammad Husni Thamrin

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37012/ileka.v7i1.3386

Abstract

The increasingly rapid development of digital technology has driven significant growth in the internet business sector. Digital transformation across various sectors, including education, banking, healthcare, e-commerce, and the creative industry, has increased the need for fast, stable, and high-capacity internet connectivity. The emergence of new technologies such as 5G, Wi-Fi 7, the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing is further expanding internet business opportunities. This study aims to analyze the effectiveness of the corporate action undertaken by PT Sinergi Inti Andalan Prima Tbk (INET) in supporting digital infrastructure expansion. Using the Resource-Based View (RBV) as an analytical lens, this study examines how the transformation of financial resources into technological assets (Wi-Fi 7) and the strengthening of international backbone infrastructure contribute to the creation of competitive advantage. Furthermore, the analysis applies the VRIO framework to evaluate the strategic characteristics of these assets in terms of being valuable, rare, inimitable, and organized. The findings indicate that investments in Wi-Fi 7 technology and ownership of international submarine cable access provide significant value in enhancing service quality (valuable), remain relatively limited in the domestic market (rare), and are difficult to replicate due to high capital requirements and complex technical capabilities (inimitable). In addition, the firm’s ability to effectively manage and integrate these resources (organized) strengthens its potential to achieve sustained competitive advantage. Overall, this strategy reflects a form of vertical integration aimed at capturing the retail market in strategic regions (Bali–Lombok), while simultaneously mitigating financial risks associated with reliance on debt financing.
The Impact of Financial Literacy and Digital Transformation on MSME Performance in Bandung City Dwi Rahmawati; Destiana Destiana; Jufri Yandes
BASKARA : Journal of Business and Entrepreneurship Vol. 8 No. 1 (2025): BASKARA: Journal of Business and Entrepreneurship
Publisher : Universitas Muhammadiyah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54268/baskara.v8i1.28752

Abstract

Micro, small, and medium-sized enterprises (MSMEs) play an influential part in the economy of Indonesia. Their contribution to economic development is often hindered by insufficient financial literacy and a slow adoption of digital transformation. Enhancing these areas is crucial for boosting competitiveness, resilience, and sustainable growth. This research examines the impact of financial literacy, financial attitudes, financial satisfaction, and digital transformation on the performance of MSMEs in Bandung City. A quantitative research approach was utilized, employing primary data gathered through structured questionnaires given to MSME proprietors. The data analysis was completed using the partial least squares (PLS) technique, with the measurement model evaluated through convergent validity, discriminant validity, and reliability tests to maintain methodological rigor. The findings demonstrate that financial literacy, financial attitudes, financial satisfaction, and digital transformation each have a partial yet significant impact on MSME performance. The findings underscore the importance of integrating financial capability development with strategies for digital adoption to enhance business performance. The uniqueness of this research lies in its integration of financial behaviors and digital transformation aspects, providing a more comprehensive understanding of the factors influencing MSME performance. This study presents practical recommendations for policymakers and business leaders in developing strategies that enhance MSME competitiveness in the digital economy
Apakah Efek Kebijakan The FED Sepanjang 2025 Masih Menjadi Variabel yang Mempengaruhi Arah Pergerakan Pasar Modal Indonesia? Jufri Yandes
JEMAP Vol 9, No 1: April 2026
Publisher : Universitas Katolik Soegijapranata, Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24167/jemap.v9i1.14993

Abstract

Abstract: The discourse on the immunity of the domestic equity market to external shocks is being re-examined through research that evaluates the transmission of The Fed policy to the Composite Stock Price Index during the 2025 cycle. This quantitative study reveals the extent to which fluctuations in US monetary instruments distort the stability of the Indonesian capital market. Empirical analysis confirms that the IHSG is not immune to The Fed policy, which in fact shows a significant inverse correlation. This finding reinforces the relevance of the Monetary Transmission Mechanism theory through the channel of international capital flows, whereby an escalation in the interest rates of superpower central banks triggers a capital exodus from emerging markets to safer assets. Fundamentally, the research model proves that the volatility of the IHSG throughout the observation period is highly dependent on the US monetary policy paradigm. Consequently, the direction of the Indonesian stock market remains within the vortex of global influence, which requires market participants to be vigilant in anticipating the spillover effect of international monetary policy 
Pengaruh Dinamis Perubahan Kurs USD Terhadap Pergerakan Pasar Saham Di Indonesia Jufri Yandes
Benefit: Journal of Bussiness, Economics, and Finance Vol. 4 No. 2 (2026): BENEFIT: Journal Of Business, Economics, and Finance
Publisher : Lembaga Penelitian Dan Publikasi Ilmiah (lppi) Yayasan Almahmudi Bin Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70437/benefit.v4i2.1774

Abstract

Pergerakan nilai tukar dolar Amerika Serikat terhadap rupiah Indonesia telah lama dipandang sebagai salah satu indikator makroekonomi penting yang berperan dalam menentukan kinerja pasar modal. Sepanjang periode Januari hingga Desember 2024, depresiasi rupiah terhadap dolar AS terjadi bersamaan dengan volatilitas yang berkelanjutan pada Indeks Harga Saham Gabungan, yang mencerminkan tingginya respons investor terhadap dinamika ketidakpastian global serta kondisi fundamental domestik. Penelitian ini bertujuan untuk menganalisis hubungan kausal antara perubahan nilai tukar dolar AS terhadap rupiah dan pergerakan Indeks Harga Saham Gabungan selama periode tersebut. Studi ini menggunakan pendekatan kuantitatif dengan desain penelitian kausalitas, memanfaatkan data sekunder bulanan yang diolah menggunakan metode regresi melalui perangkat lunak EViews. Analisis didukung oleh pengujian asumsi klasik, uji parsial (uji t), koefisien determinasi, serta pengujian hipotesis satu arah. Temuan penelitian menunjukkan bahwa apresiasi dolar AS memberikan pengaruh negatif dan signifikan terhadap Indeks Harga Saham Gabungan, dengan nilai koefisien determinasi yang relatif tinggi, yang mengindikasikan bahwa variasi indeks sebagian besar dapat dijelaskan oleh fluktuasi nilai tukar. Kata Kunci: Indeks Harga Saham Gabungan, Kurs, Pasar Modal Indonesia