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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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Structural Transformation in the Indonesian Economy: Why does 'Financial Development' Matter? Nanga, Muana; Widjaja, William
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.pp213-222

Abstract

This study offers a comprehensive examination of Indonesia's process of changing its economic structure from 2000 to 2020. Structural transformation, characterized by changes in the distribution of jobs among different sectors, is crucial for fostering economic growth. It emphasizes phenomena such as the decrease in agricultural GDP shares, rural-urban migration and shifts in economic sectors, which resemble the patterns observed in emerging countries. Nevertheless, the rate of employment transformation is comparatively slower than the fluctuations in GDP, suggesting a more gradual and protracted process of structural change. The analysis focuses on obstacles to transformation, such as insufficient personnel and digital infrastructure. The study examines the relationships between structural transformation and economic indicators in the provinces of Indonesia from 2011 to 2022, utilizing panel data regression models. The findings indicate strong correlations between economic development, human capital, financial development, digital technology, and structural transformation. The study highlights the significance of tackling these elements to accelerate transformation. The policy implications of this proposal suggest that Indonesia should prioritize economic and digital growth, improve human capital, and strengthen the financial sector. This will lead to a more rapid and comprehensive structural transformation in the country.
The Effect of Market Structure on Sales of Coal Companies Listed on the Indonesia Stock Exchange (IDX) for the Period 2018 - 2022 Octavianto, Said Nur; Pujiati, Amin; Prajanti, Sucihatiningsih Dian Wisika
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.
Regional Macro Policies for People's Happiness Nuraini, Ida; Ananda, Candra Fajri; Muljaningsih, Sri; Wahyudi, Setyo Tri
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.
The Effects of Various Internal and External Factors on the Movement of the Indonesian Sharia Stock Index on the Indonesia Stock Exchange Setyowati, Eni; IH, Maulidah; Soebagiyo, Daryono; Al Afif, Rafiq Azzam; Hidayah, Annisa Nur; Masitoh, Siti; Kamara, Ibrahim Sorie
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.pp202-212

Abstract

This study analyzed several factors that affect the Indonesian Sharia Stock Index. The use of the inflation-currency rate, the availability of money, and the BI rate were all internal factors considered in this study. Meanwhile, the external factors used in this study were international gold and oil prices. The Engle-Granger Error Correction Model was used to analyze time series data in this study. The research used the monthly period started from May 2013 until January 2022. The long-term results of the research variables that could influence the exchange rate, total money supply, world oil prices, and world gold prices were all dependent on the Indonesian Sharia Stock Index. Meanwhile, the factors that influence the short-term movement of the ISSI exchange rates were inflation, and the BI rate variables.
Sustainability Analysis of the Revolving Fund Program of the LPDB (Revolving Fund Management Institution): MICMAC Method Approach Dibihantoro, Fino Rihab; Suasih, Ni Nyoman Reni
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.
Determinants of Rattan Industry Profitability in Cirebon, West Java Septianingsih, Hesti; Istiqomah, Istiqomah; Floresti, Dwita Aprilia
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.pp185-201

Abstract

This study aims to analyze the determinants of profit received by rattan handicraft home industries in Rattan Galmantro Tourism Village, Tegalwangi Village. The independent variables include capital, labor, product variety, digital marketing and technology. This study took a sample of 70 respondents selected through simple random sampling. The data is analyzed using income analysis and multiple linear regression. The results show that capital, labor and technology have a significant positive effect on profit while product variety and digital marketing do not have a significant effect on the profits of the rattan handicraft home industry in the Galmantro Rattan Tourism Village, Tegalwangi Village.
Does Management Efficiency have any Influence on Job Satisfaction? Badriyah, Nurul; Muhtarom, Abid; DJ, Yunni Rusmawati; Titin, Titin; Rochmatullah, Mahameru Rosy; Farid, Chabib Hasan Imam Al; Mustoffa, Ardyan Firdausi
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.pp260-275

Abstract

Recently, there has been a growing global need for washing services worldwide. This surge has significantly influenced the growth of washing enterprises in all nations, including Indonesia. Nevertheless, this nation's expansion of the laundry sector has led to fierce rivalry. Many laundry businesses have failed to compete because they could not effectively implement efficient human resource management. This study aims to analyze the impact of efficiency management on employee satisfaction by identifying remedies to maintain the sustainability of the laundry sector. This study primarily examines the management of human resource efficiency, emphasizing four dimensions: leadership style, work environment, rewards, and work motivation. This study examines the role of employee performance accomplishment as a mediator. This study uses structural equation modeling (SEM) approaches to quantitatively test data from 135 respondents. The results of this study suggest that the leadership style, work environment, and rewards that align with employee preferences have a substantial impact on employee job satisfaction. It means that efficient human resource management that emphasizes these three dimensions is critical to the success of laundry businesses facing intense competition. Theoretically, this study has successfully addressed the gap in previous studies. Practically, this study can provide valuable information to practitioners in enhancing the competitive edge of their laundry business.
Impacts of Sanitation Practices on Human Development: A Decade-Long Analysis of the Malang District Aji, Angga Dheta Shirajjudin; Suhardono, Sapta; Suryawan, I Wayan Koko; Prayogo, Wisnu
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.pp276-288

Abstract

This study explores the influence of various sanitation practices on the Human Development Index (HDI) in the Malang District from 2011 to 2020. Employing a multiple linear regression analysis, the research examines the relationship between the HDI and five critical sanitation practices: access to wastewater treatment plants, open defecation prevalence, septic tank usage, and direct waste disposal into water bodies and onto land. Secondary data was sourced from the Badan Pusat Statistika of Malang District, ensuring robust and authoritative information spanning over a decade. Preliminary diagnostics were performed to affirm the data's suitability for regression analysis. The results indicated a significant negative impact of direct disposal into water bodies on HDI, emphasizing the critical role of effective waste management practices in promoting human development. The study underscores the need for integrated policy approaches that address sanitation infrastructure improvements, environmental protection, and education on public health practices. This paper contributes to the literature by quantifying the effects of sanitation on human development over an extended period. It offers evidence-based recommendations for policymakers to support sustainable development goals in the region.
Kangaroo Market Phenomenon: Identification and Impact on Indonesia’s Economic Growth Fatah, Saifullah; Usman, Hardius
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.pp289-308

Abstract

The stock market holds a crucial role in a country's economy, including Indonesia. As an indicator, the Jakarta Composite Index (JCI) experiences volatility alongside changes in the Indonesian economy. The presence of a kangaroo market in JCI returns can pose a risk of future economic slowdown, making it crucial for monetary authorities to intervene to stabilize the stock market. Therefore, this study identifies the kangaroo market phenomenon, structural economic changes, and the impact of the kangaroo market phenomenon on Indonesia's economic growth. The study focuses on many variables, including JCI returns, kangaroo market, and economic growth from Q3 1995 to Q4 2023. By using the Hodrick-Prescott Filter to define a kangaroo market as JCI returns that lack a deterministic trend, have high volatility, and deviate by one standard deviation from their volatility trend, the results show that most kangaroo phenomena occur during undervaluation. Following the kangaroo market phenomenon, Indonesia's economy underwent five structural changes based on the multiple breakpoint test. Using dynamic linear regression, the overvaluation kangaroo phenomenon negatively affects Indonesia's economic growth, while the undervaluation kangaroo phenomenon has no impact but shows a positive direction.
Rationality of Informal Sector Vendor Groups in Maintaining Business Santoso, Slamet; Wafirotin, Khusnatul Zulfa; Cahyono, Yeni; Wijayanti, Iin; Ayutika, Riza Dessy Nila
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).

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