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Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi
Published by Universitas Muhammadiyah Ponorogo
ISSN : 1858165X     EISSN : 25287672     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
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.
Arjuna Subject : -
Articles 221 Documents
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The Effect of Market Structure on Sales of Coal Companies Listed on the Indonesia Stock Exchange (IDX) for the Period 2018 - 2022 Said Nur Octavianto; Amin Pujiati; Sucihatiningsih Dian Wisika Prajanti
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 19, No 2 (2024): September
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v19i2.2024.pp223-244

Abstract

The limited product diversification of the Indonesian coal mining industry underscores the imperative for the formulation of strategic business plans to navigate the intensifying market competition. This study aims to examine the market structure, the factors influencing sales, and the impact of market structure on the sales performance of coal mining companies in Indonesia. This study employs a quantitative method and utilizes a range of analytical techniques, including CR4, HHI, MES, CLR, PCM, and multiple linear regression. The CR4 and HHI analysis revealed that the market structure of coal mining companies in Indonesia is classified as a highly concentrated tight oligopoly. The MES analysis yielded the conclusion that new companies in the sector face significant barriers to market entry. The findings of the CLR analysis, which indicates that the coal mining sector is a capital-intensive industry, suggest that equity and capital factors are the primary contributors to the challenges faced by new companies attempting to enter the market. The results of the multiple linear regression analysis indicate that equity factors and production volume have a positive and significant effect on company sales. This finding is corroborated by the PCM analysis, which suggests that companies with low market share tend to set higher margins to obtain greater profits. Increasing investment levels may serve as a viable business strategy, particularly when supported by government policies aimed at fostering a secure and stable investment environment to enhance company equity and capital.
Factors Driving Sustainability of Food and Beverage Industries Muzakar Isa; Aflit Nuryulia Praswatia; Siti Zulaekah
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 19, No 2 (2024): September
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v19i2.2024.pp162-171

Abstract

This study has two objectives, namely compiling and analyzing vulnerability indexes of business unit, and analyzing key success variables for food and beverage industries after the COVID-19 pandemic. The analysis tool used in this study is business vulnerability analysis. The vulnerability analysis is derived from the vulnerability index to the COVID-19 threat, which is collected from all aspect indicator values of MSMEs' vulnerability to the COVID-19 theeat. These values consist of exposure, sensitivity, and adaptive capacity. The results of the study explain that food and beverage MSMEs are categorized into medium vulnerability to the threat of COVID-19, where sensitivity is the highest influence aspect as a determinant of the vulnerability level. Due in part to the high number of MSMEs that are sensitive to the threat of COVID-19 and lack the ability to adjust, there may have been a fall in sales and bankruptcy of food and beverage MSMEs during the COVID-19 pandemic.
Sustainability Analysis of the Revolving Fund Program of the LPDB (Revolving Fund Management Institution): MICMAC Method Approach Fino Rihab Dibihantoro; Ni Nyoman Reni Suasih
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 19, No 2 (2024): September
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v19i2.2024.pp245-259

Abstract

The importance of access to credit for micro, small, and household craft enterprises, including cooperatives, has become a major focus in improving working capital financing and capital accumulation to support industrial income. The government through the LPDB (Revolving Fund Management Institution) has launched a revolving fund program that aims to strengthen the capital base of cooperatives, increase the capacity of human resources in business and financial management, and increase the role of cooperatives in expanding employment opportunities and reducing poverty. According to data from the Cooperative Business Development Division of the Denpasar City MSME Cooperative Office, from 2021 to 2023, there were five cooperatives that received the LPDB revolving fund program, but did not consistently reapply for the funds. This raises concerns regarding the sustainability of the program and the factors that influence it. This study aims to identify the factors that influence the sustainability of the LPDB program for cooperatives in Denpasar City. Using the MICMAC (Matrix of Cross Impact Multiplications Applied to a Classification) analysis method, this study reveals that the revolving fund administration requirements and members' information and knowledge about the revolving fund have the most significant direct influence. These findings underscore the importance of simplifying the administrative process and improving member knowledge to ensure the success of the program. In addition, active member participation emerged as an important predictor of program sustainability, highlighting the importance of members' direct involvement in supporting their economic activities. Thus using this method can uncover critical factors, and provide a comprehensive understanding that can inform policy adjustments and strategic implementation to improve program sustainability.
Regional Macro Policies for People's Happiness Ida Nuraini; Candra Fajri Ananda; Sri Muljaningsih; Setyo Tri Wahyudi
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 19, No 2 (2024): September
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v19i2.2024.pp172-184

Abstract

Currently, the most complete measure of community welfare is the happiness index because this measure is based on community subjectivity. This study aims to determine the effect of per capita income, minimum wage, income inequality and gross enrollment rates on the Happiness Index in Indonesia. The research objects are 34 provinces in Indonesia. The data used are secondary data for 2014, 2017 and 2021. The data source is the Indonesian Central Bureau of Statistics. Using the panel data regression, the results show that per capita income, income inequality, minimum wage and gross enrollment rates together have a significant effect on the happiness index. and partially the per capita income variable has no significant positive effect on the happiness index while income inequality has no significant negative effect on the happiness index, conversely the minimum wage variable and gross enrollment rate have a significant positive effect on the happiness index in Indonesia. In order to increase the happiness index, it is recommended that the provincial government periodically review the minimum wage policy, increase the gross enrollment rate and increase per capita income and reduce income inequality.
Impact of the Covid 19 Pandemic on the Quality of Good Local Government Governance in Indonesia Khairudin Khairudin
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp113-142

Abstract

The aim of this research is to assess the impact of the Covid-19 pandemic on the quality of good local government governance. This study involved all provincial governments in Indonesia with observation years 2019 and 2020. The assessment of the quality of good regional governance was measured using the Principal Component Analysis method. The test was carried out by comparing the value of the good regional governance index in the year before the Covid-19 outbreak with the value of the good regional governance index in the year of the Covid-19 outbreak. The findings showed that the governance index of all provincial governments in 2020 decreased by an average of 0.68 points or 10.82% so that the Covid-19 Pandemic in Indonesia has reduced the quality of regional governance. Therefore, all stakeholders need to be more serious in building the principles of good governance from planning to control to maintain quality, even in crisis situations.
Identifying Critical Infrastructure for Local Economic Development in Rapidly Growing Small Towns Catur Raharjo Febrayanto; Fitri Susiyanti; Mohammad Agus Yulianto; Muhammad Siwi Nugraha; Ira Amanda Hirbasari; Ahmad Hanfan; Lusiana Indira Isni
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp76-96

Abstract

Brebes Regency, Indonesia, exhibits significant economic growth but also the highest poverty rate in Pekalongan Residency, indicating uneven development. This study identifies local economic potential and prioritizes infrastructure needs for sustainable economic growth in rapidly developing small towns within Brebes Regency, Indonesia. Data were collected through Focus Group Discussions (FGDs) and supplemented by secondary data from relevant Local Government Agencies (OPDs), providing insights on existing infrastructure, potential economic activities, and necessary facilities for local development. The analysis utilized qualitative descriptive methods, regression to assess economic growth trends, and Klassen's typology to classify economic activities. Findings indicate significant opportunities in key sectors such as agriculture and fisheries, highlighting the urgent need for targeted infrastructure investments, including rice mills, fish hatcheries, and vocational training centers, to bolster these sectors. The study concludes that strategic infrastructure development, informed by both primary and secondary data sources, is essential for maximizing economic potential and fostering sustainable growth in Brebes Regency's small towns. This research supports informed policy decisions regarding resource allocation and infrastructure planning, contributing to equitable development and enhanced economic resilience in the region.
Rationality of Informal Sector Vendor Groups in Maintaining Business Slamet Santoso; Khusnatul Zulfa Wafirotin; Yeni Cahyono; Iin Wijayanti; Riza Dessy Nila Ayutika
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp196-207

Abstract

Informal sector vendors have now penetrated every city. This phenomenon is interesting to study further, especially their rational efforts to maintain their business. This study aims to determine how the rationality of informal sector vendor groups works in running and maintaining their business. Studying rationality becomes important because, for base consideration, it is important that they run in the group so that they are capable of maintaining their efforts until the moment. This study uses a social definition paradigm with a qualitative approach and a case study research type. The data collection methods used are in-depth interviews and observations. Data analysis uses interactive model analysis with data validity checks by triangulation. The study results show that informal sector vendors do not run informal sector vendors individually and separately, but their vendors are run in groups. The existence of these groups is important because they can help each other or help each other, support each other's vendors by maintaining harmony and mutual respect between each other so that they can run and maintain their business. The rationality of informal sector vendors is included in the type of value rational action (Werk Rational).
The Effect of Marketing Activities on Profitability with Others Comprehensive Income as Moderation: Evidence from Southeast Asia Ririn Andriana; Marhaendra Kusuma; Che Manisah Mohd Kasim; Carlos Afonso Barreto
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp143-160

Abstract

This research aims to know moderated of others comprehensive income in link of marketing activities on the profitability of financial sector firm in the Southeast Asia region. Research on profitability determination has been widely conducted, but testing the moderating role of Others Comprehensive Income (OCI) in link marketing activities on financial profitability in financial sector companies has not been widely conducted. This is important because financial sector companies have large financial assets. The source of funding comes from funding funds that are inseparable from marketing activities. Ownership of large financial assets has an impact of other comprehensive income (OCI), especially the type of unrealized earnings from adjustment assets include financial types that are ready to be realized (AFS). Observation data of 612 from the financial statements of a sample of 153 financial sector companies in 2020 - 2023 in five Southeast Asian countries, namely Indonesia, Thailand, Malaysia, Singapore, and the Philippines. Data analysis using Moderated Regression Analysis and showing the results that the existence of OCI in financial sector companies is proven to strengthen the positive impact activities of marketing to ROA or profitability. The originality of this study is to test OCI’s moderated in link marketing activities on profitability. Large OCI AFS ownership in financial sector companies is important information for investors regarding future profitability, because AFS will be realized in the future, and its realization will certainly affect net income.
Does Cross-Country Income Convergence Occur? Ahmad Thoifur
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp62-75

Abstract

Income is one of the most popular dimensions for measuring welfare and development; hence, comparing welfare and well-being among countries can be conducted by comparing their per capita income. While income convergence is a certain implication in neoclassical growth theory, it does not always occur empirically. This study aims to investigate whether income convergence occurs among economies. Employing data from 93 countries from 1980 to 2022 obtained from the World Bank, the two-way fixed effect panel model is implemented to verify the existence of β-convergence. The result shows that the initial per capita gross domestic product, representing income, negatively affects income growth, indicating that β-convergence occurs in terms of global and club convergence. This implies that poor countries grew faster than affluent countries. After β-convergence is confirmed, σ-convergence is analyzed by measuring the income dispersion across countries over time. σ-convergence exists if the dispersion declines as time passes. The result shows that σ-convergence exists only among G20, OECD, lower-middle-income, higher-middle-income, and high-income countries. This fact implies that the income gap between poor and rich countries within those groups shrinks over time. In contrast, the income gap among low-income countries did not experience a significant decline during the period. Therefore, international organizations and partnerships must pay more attention to and assist lower-income countries to achieve higher growth rates.
The Role of Brand Image in Mediating Social Media Marketing and Customer Relationship on the Decision to Choose a Private University Trias Setyowati; Fefi Nurdiana Widjayanti; Naning Kristiyana
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 20, No 1 (2025): March
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v20i1.2025.pp208-228

Abstract

This research aims to examine the impact of social media marketing and consumer relationships on the decision-making process regarding enrollment in private universities, as well as to assess their influence on the brand perception of these institutions. Additionally, it seeks to analyze how the perceived brand image affects the decision to enroll in a private university. The study targeted new students entering private universities in Jember Regency for the 2023/2024 academic year, using proportional random sampling methods for data collection via questionnaires. Statistical analysis and hypothesis testing were conducted using SEM-PLS methodology. Findings indicate that social media marketing significantly affects the decision to enroll in a private university, while consumer relationship factors do not. Moreover, both social media marketing and consumer relationships impact the brand image of private universities, which subsequently influences enrollment decisions. Indirect testing reveals that brand image serves as a mediating factor in the relationship between social media marketing, consumer relationships, and the decision to enroll in a private university.

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