Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi
Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi is a journal published by the Economic Faculty, Universitas Muhammadiyah Ponorogo (Unmuh Ponorogo) in collaboration with Universitas Muhammadiyah Ponorogo Research and Community Service. Published twice a year (March and September), contains six to ten articles and receive articles in the field of economic and business review studies with research methodologies that meet the standards set for publication. Manuscript articles can come from researchers, academics, practitioners, and other economic observers who are interested in research in the field of economics.
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<![CDATA[Optimum Government Size and Economic Growth in Indonesia: ARDL Model Approach ]]>
<![CDATA[Khubbi Abdillah]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp37-47
<![CDATA[This study aims to determine the optimal government spending by analyzing the long-term and short-term relationship between government size and economic growth in Indonesia. The method used in this study is the ARDL model with secondary data from the World Development Indicators in 1966-2021. The results of the analysis show that initially government size has a significant positive effect on economic growth in the short run. But, in the long term, when the government size variable is in the form of a quadratic to determine a non-linear relationship, it shows a negative relationship to economic growth with a safe limit expenditure of 57.9% of national income. This study is in accordance with the Armey curve hypothesis. The policy recommendation in this study proposes that the government needs to control the amount of the budget so that its expenditure does not exceed the threshold. ]]>
<![CDATA[How does the PEN Program Affect the Sustainability of MSMEs: A Case Study in Bantul ]]>
<![CDATA[Nur Andriyani]]>;
<![CDATA[Huda Kurnia Maulana]]>;
<![CDATA[Annisa Nur Salam]]>;
<![CDATA[Frisca Marta Utami]]>;
<![CDATA[Alivia Nabila Kinasih]]>;
<![CDATA[Syarif Ardiansyah]]>;
<![CDATA[Iskandar Iskandar]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp110-119
<![CDATA[The Indonesian economy has faced a pandemic for the last two years. The Covid-19 pandemic is the starting point for implementing digital technology for MSMEs. MSMEs and the government maintain the sustainability of MSMEs, which are one of the pillars of the economy. This study aims to analyze the impact of digital technology implementation, human capital and PEN program in maintaining business sustainability directly or through competitive advantage. The object of research is culinary MSMEs in Bantul Yogyakarta Regency. SEM PLS is employed to estimate the primary data by using WARPS PLS 6.0 application. The results revealed that digital technology variables could directly affect business sustainability. Meanwhile, human capital and the PEN program affect business sustainability through competitive advantage. The results suggest government extend the fiscal stimulus.]]>
<![CDATA[The Contribution of Tourism Sector to Locally Generated Revenue in Indonesia’s Top Priority Tourist Destination ]]>
<![CDATA[Najwa Khairina]]>;
<![CDATA[Leni Anggraeni]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp48-61
<![CDATA[This research is aimed to analyze the association between tourist expenditure, labor force in accommodation sector and room occupancy rate with locally generated revenue (PAD) in five province of top priority tourist destination in Indonesia (North Sumatera, Central Java, West and East Nusa Tenggara and North Sulawesi). We use data of tourism statistics from Statistics Bureau and Ministry of Creative Economy. By applying random effect panel data analysis, we found that all variables are significantly associated with PAD. Our empirical estimates shows that a one percent increase of labor force in accommodation sector is associated with 0.0075% increase in PAD, one percent increase of room occupancy rate associated with 2.85% increase in PAD while one percent increase of tourist expenditure is associated with 0.257% increase in PAD. The individual effect estimates show higher impact in Central Java and North Sumatera compared to West and East Nusa Tenggara and North Sulawesi and thus further confirming our presumption that there are some disparities between tourism spots in West and Eastern part of Indonesia. ]]>
<![CDATA[SMEs Performance and Halal Food Supply Chain ]]>
<![CDATA[Ayuk Setiyawan]]>;
<![CDATA[Muzakar Isa]]>;
<![CDATA[M. Farid Wajdi]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp62-71
<![CDATA[The food and beverage business has a strategic role in the economy and food security, where 90% of national food products are provided by SMEs. SMEs also control 99.9% of the industrial market, absorb 97% of the national workforce and contribute 60% to GDP. On the other hand, food and beverage SMEs have the lowest resistance to the COVID-19 pandemic, so efforts need to be made to strengthen organizational resilience to the uncertainty of the business environment. This study aims to describe the food and beverage business supply chain, analyze the level of business efficiency and analyze the key variables of the performance of food and beverage SMEs in Surakarta City after the covid-19 pandemic. This research uses supply chain analysis, efficiency analysis and structural analysis. Supply chain analysis uses descriptive qualitative analysis. Efficiency analysis uses a non-parametric approach whose defeat uses DEAP. Analysis of determining the key variables of SME performance using structural analysis. The study used 20 variables to be processed into key variables for the performance of SMEs. The research involves academia, business, government, and the community (ABGC) in FGDs to obtain a comprehensive study. Data analysis using structural analysis using MICMAC.The results of the study explain that the performance of food and beverage SMEs was influenced by the product supply chain, there are still many food and beverage businesses that have not yet reached the level of efficiency, either in resource allocation or in achieving output. The results also explain 5 key variables out of 20 variables that are used to determine the main variables that have a high influence in supporting business performance, namely achievement-oriented, effective marketing, optimism, market understanding, and risk management. ]]>
<![CDATA[Sustainable Business Development Via Applying an Online Business Model for Gaining Benefit in Economics, Education, and Social Network ]]>
<![CDATA[Rochmat Aldy Purnomo]]>;
<![CDATA[Oksana Malynka]]>;
<![CDATA[Adi Prananto]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp1-10
<![CDATA[Regional development includes infrastructure and information technology. Infrastructure, Information and Communication Technology (ICT) is worse in rural areas and small towns in Indonesia. One of such areas is the village of Menowo located in Magelang, Central Java Province, Indonesia. The purpose of this research is to study a contemporary phenomenon of the Blogger Village within its real-life content. In this research, a case study is described: a young man who was born in the village has started an “online business community”. Now, people call the Village Menowo “The Blogger Village”. Since 2014, more than 50 people in the Blogger Village have got their own revenue accounts for hundreds of thousands of U.S. dollars per month. The Blogger Community has contributed to reducing unemployment in the village. The study has found that the Blogger Community can provide additional income for Magelang SMEs. Magelang SMEs can use the profit margin of their businesses to update hardware and software including Internet information sources from anywhere. The study provides new information related to the regional development, local development, and complement economic empirical studies of a research that has been done before. The applied research is beneficial for the Government of Magelang to determine and develop policies of the regional economic development of Magelang and to establish appropriate programs and activities for developing the economy of the area. The research will also help eliminate the overlap among the existing rules both at central and local levels, as well as among sectors and agencies. ]]>
<![CDATA[The Effect of Enviromental Uncertainty and Tax Avoidance: The Role of Managerial Ability in Emerging Country ]]>
<![CDATA[Hanny Purnomo]]>;
<![CDATA[Rizky Eriandani]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp72-82
<![CDATA[Taxes play an essential role in state funding. As something that is not profitable for the company, it usually encourages efforts to reduce taxes by doing a tax avoidance. This study aims to determine the effect of environmental uncertainty on tax avoidance and to determine the managerial ability to weaken the effect of environmental uncertainty on tax avoidance. This study using SPSS, 458 samples used in this study are manufacturing companies listed on the Indonesia Stock Exchange in the period 2016 – 2020. The results of this study indicate that environmental uncertainty affects tax avoidance and managerial ability strengthens the effect of environmental uncertainty on tax avoidance. The result may be due to the large influence of environmental uncertainty in the company so that the risks obtained are difficult for managers to overcome.]]>
<![CDATA[Personal Role in the Mediation of Entrepreneurship Education on Interest in Entrepreneurship ]]>
<![CDATA[Rismawati Rismawati]]>;
<![CDATA[Nurhaedah Nurhaedah]]>;
<![CDATA[Syed Norris]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp11-21
<![CDATA[This study has a purpose to analyze (1) To find out and explain the influence of Entrepreneurship Education on Personal Management Students S1 at Stiesia Surabaya, (2) To find out and explain the Personal Influence on Interest in Entrepreneurship, (3) To find out and explain the influence of Entrepreneurship Education on Entrepreneurial Interests of Management S1 Students at Stiesia Surabaya, (4) To find out and explain the influence of Personal roles in mediating Entrepreneurship Education on Entrepreneurial Interests of Undergraduate Management Students at Stiesia Surabaya. This research belongs to the type of research in the category of explanatory research, which is to explain a relationship between variables through hypothesis testing. The research sample amounted to 125 people. The sample in this study using the census method. In order to analyze the data the author uses the statistical technique Partial Least Square (PLS). The results of the research from the results of data analysis using the statistical partial least square (PLS) technique which can be seen from the results of data analysis which states that Entrepreneurship Education has a positive and significant influence on Personal, Personal can have a positive and significant influence on Entrepreneurial Interest. positive and significant influence on Entrepreneurial Interest and Entrepreneurship Education indirectly (through the Personality variable) significantly influence the Entrepreneurial Interest of S1 Management Students at Stiesia Surabaya.]]>
<![CDATA[Reviewing the Role of Investment in the West Kalimantan Border ]]>
<![CDATA[Dian Anggraeny Rahim]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp83-93
<![CDATA[The development of border areas that is rampantly carried out by the government, in addition to reducing regional disparities, also improves regional economic performance as one of the efforts made by the government is through PMA (foreign direct investment) and PMDN (domestic investment). Furthermore, the role of this investment is evaluated to see the extent of its success in the area's economic performance. The study had two objectives; first, to know what variables affect the reduction of the poverty rate and increase in GDP per capita in the border area of West Kalimantan covering five districts, namely Sambas, Bengkayang, Sanggau, Sintang, and Kapuas Hulu. The independent variables used in this study are the realization of PMA and PMDN investment, the number of industries, and the absorption of labor in the industrial sector. Using secondary data for 2019-2021 and Panel Data Regression analysis, it can be seen that only employment in the industrial sector influences increasing GDP per capita and decreasing poverty rates. Meanwhile, the realization of PMA and PMDN investment, as well as the number of industries, did not significantly influence. The second objective of this study is to determine which investment is better based on the Forecasting Method. The Naive Method shows that PMDN investments have a smaller MSE value and a lower MAPE value than PMA investments. It means that PMDN investment is more feasible to be used as an option for future funding development in border areas.]]>
<![CDATA[The Role of Dividend Policy in Explaining Corporate Governance and Profitability on Firm Value ]]>
<![CDATA[Yenny Dwi Handayani]]>;
<![CDATA[Ewing Yuvisa Ibrani]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp22-36
<![CDATA[This study aims to determine the effect of corporate governance and profitability on dividend policy based on substitution theory and/or outcome theory in the banking sector in Indonesia. Theoretically, this study contributes which theory is more dominant between substitution theory and outcome theory by linking the influence of corporate governance with dividend policy and providing information about the impact of the application of the theory on firm value and build awareness to be careful of investors. Investors in making investment decisions, especially in the banking industry in Indonesia. In addition, this study also examines the role of dividend policy in explaining the relationship between corporate governance and profitability on the value of banking firms. A sample of 135 observational data comes from 27 banking companies during 2016-2020. This research found that corporate governance has a negative and significant influence on dividend policy. In addition, the CG index is one of the factors that can explain the company's market value. Profitability is empirically proven to influence dividend policy. Dividend policy is proven to play a role in mediating the relationship between profitability and firm value. However, it is empirically proven that dividend policy cannot mediate the relationship between corporate governance and firm value.]]>
<![CDATA[Determinants of the Successful Digital Campaigns on Zakat: an Analysis Based on Islamic Marketing Perspective ]]>
<![CDATA[Juliana Nasution]]>
<![CDATA[ EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 18, No 1 (2023): March ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Ponorogo ]]>
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DOI: 10.24269/ekuilibrium.v18i1.2023.pp94-109
<![CDATA[Zakat campaigns have taken place from time to time in various phases of muslim history. The zakat campaign has been said to be effective, but evidence in Indonesia shows that the zakat literacy of muslim communities is not yet high, they also tend to choose to distribute zakat directly, and there is a wide gap between the potential and reality of zakat collection. This study aims to examine the determinants that influence the success of a digital zakat campaign, consisting of content or messages in the zakat campaign, amil or zakat campaigners, campaign target digital literacy, social media as a campaign platform, and campaign methods. This research is a quantitative research, with respondents consisting of 100 muzakki (zakat donator) at LAZ Dompet Dhuafa Waspada North Sumatra, Indonesia. Data analysis techniques using descriptive statistics and SEM-PLS using SmartPLS 4.0 software. The results of the study show that content and social media have an effect but not significant on the success of the zakat digital campaign. Meanwhile, the amil factor and campaign method have a significant effect on the success of the zakat digital campaign. Meanwhile, digital literacy has a negative and insignificant effect on digital zakat campaigns. The results of this study indicate the importance of amil positioning in the success of the zakat campaign. This study proposes that zakat institutions cadre their own amil celebrities.]]>
