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EKUITAS (Jurnal Ekonomi dan Keuangan)
Published by Sekolah Tinggi Ilmu Ekonomi Indonesia Surabaya
ISSN : 2548298X     EISSN : 25485024     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Diterbitkan oleh Sekolah Tinggi ilmu Ekonomi Indonesia (STIESIA) Surabaya secara berkala (setiap tiga bulan) yaitu setiap Maret, Juni, September, dan Desember, dengan tujuan untuk menyebarluaskan hasil penelitian, pengkajian, dan pengembangan bidang ekonomi dan keuangan, khususnya bidang akuntansi, manajemen, pasar modal hukum bisnis, perpajakan, sistem informasi, serta bidang ekonomi dan keuangan lainnya. Artikel yang dipublikasikan dalam EKUITAS dapat berupa Artikel Penelitian maupun Artikel Konseptual (non-penelitian).
Arjuna Subject : -
Articles 10 Documents
 1 
Search results for , issue "Vol 9 No 1 (2025): March" : 10 Documents clear
EXAMINING THE ECONOMIC IMPACT OF CORRUPTION: ARE DIFFERENCES BETWEEN THE CLEANEST AND MOST CORRUPT COUNTRIES BEFORE AND DURING COVID-19? Agusalim, Lestari; Alfiansyah, Muhammad Ilham; Prasetyoputra, Puguh; Noviantoro, Riko
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6929

Abstract

The relevance of this study stems from the need to understand the impact of corruption on economic growth across various groups of countries, particularly before and during the COVID-19 pandemic. This study aims to analyze whether there are differences in the impact of corruption on economic growth between countries with the lowest and highest levels of corruption, both before and during the pandemic. Using panel data regression analysis with a fixed-effects model from 2012 to 2020 and covering 159 countries, the study supports the "sand the wheels" theory, which suggests that corruption hinders economic growth. No significant differences were found in the effect of corruption on economic growth between countries with high and low corruption perception indices, both before and during the COVID-19 pandemic. Additionally, per capita spending and the quality of regulation positively impact economic growth. On the other hand, foreign direct investment (FDI) and trade openness have varying effects on economic growth across different groups of countries and periods. To mitigate the negative impact of corruption, stringent anti-corruption policies create an environment conducive to sustainable economic development.
BUILDING ORGANIZATIONAL COMMITMENT: HOW ORGANIZATIONAL CULTURE SHAPES WORK-LIFE BALANCE AND ORGANIZATIONAL CITIZENSHIP BEHAVIOUR? Rihayana, I Gede; Suardhika, I Nengah; Arsha, I Made Risma M; Suarthana, Jimmy Harry Putu
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6872

Abstract

Lembaga Perkreditan Desa (LPD) merupakan organisasi keuangan mikro di Indonesia yang dikelola secara eksklusif oleh desa-desa adat di Bali. LPD mengharuskan karyawannya untuk menunjukkan perilaku peran ekstra yang diidentifikasi sebagai Organizational Citizenship Behavior (OCB) untuk memastikan keberlanjutannya. Penelitian ini menguji Teori Pertukaran Sosial dengan mengikuti keterkaitan antar variabel dalam model penelitian. Sampel terdiri dari 250 karyawan wanita yang sudah menikah dan memiliki pengalaman kerja minimal tiga tahun. Data dikumpulkan dari kuesioner valid yang dibagikan menggunakan Google Form, kemudian diteliti menggunakan SEM-PLS melalui analisis deskriptif dan inferensial. Hasil penelitian menunjukkan budaya organisasi secara positif mempengaruhi OCB, keseimbangan kehidupan kerja, dan komitmen organisasi. Keseimbangan kehidupan kerja juga secara signifikan meningkatkan komitmen organisasi dan OCB. Selain itu, temuan menunjukkan bahwa komitmen organisasi sangat penting dalam meningkatkan OCB dan memediasi hubungan antar variabel. Implikasi dari penelitian ini menekankan peran sentral budaya organisasi dalam memastikan keseimbangan kehidupan kerja bagi karyawan perempuan yang sudah menikah, yang mengarah pada komitmen yang lebih signifikan terhadap LPD dan mendorong OCB.
OWNERSHIP STRUCTURES AND SOCIAL DISCLOSURES IN THE TOURISM SECTOR: THE MODERATING ROLE OF INDEPENDENT COMMISSIONERS Elyson , Vionna Natasya; Supatmi, Supatmi
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6905

Abstract

  This research aims to analyze the influence of ownership structure on social disclosure moderated by independent commissioners. The research samples were 47 companies in the tourism industry listed on the Indonesia Stock Exchange in 2020-2022 with a total of 141 observations. The ownership structure is measured by the percentage of institutional, managerial and foreign share ownership. While social disclosure is measured using 39 indicators of social disclosure according to the Global Reporting Initiative (GRI), which are measured by weighting between a score of 0 to 2. Independent commissioners are measured based on the number of independent commissioners in the company. As the panel data regression analysis, this research found that only managerial ownership could encourage social disclosure carried out by the tourism industry during the pandemic period. Institutional ownership was not proven to influence social disclosure. However, the foreign ownership had a positive effect on social disclosure after being moderated by independent commissioners. Independent commissioners were found to strengthen the impact of foreign ownership on social disclosure. These findings support the legitimacy theory, which states that to strengthen public legitimacy, company shareholders, especially shares owned by managers and foreign parties, can take advantage of social disclosure and increase the role of independent commissioners in the company.
GREEN TRANSFORMATIONAL LEADERSHIP, GREEN HUMAN RESOURCE MANAGEMENT, AND ENVIRONMENTAL PERFORMANCE: A MEDIATION MODEL Satriadi, Satriadi; Agusven, Tubel; Marhalinda, Marhalinda; Ilyas, Imran; Zami, Alex
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6908

Abstract

This study aims to determine the effect of the relationship between green transformational leadership and green human resource management on environmental performance mediated by green organizational culture and green work engagement. This study applied a survey method. Its population involve 236 respondents of manufacturing company managers in Indonesia. Data analysis uses PLS-SEM. The results of the study indicate that green transformational leadership and green HRM are positively and significantly related to environmental performance. Through mediation variables, this study reveals new findings that the green organizational culture variable does not significantly influence the relationship between green transformational leadership and environmental performance. This study reveals the complete mediation of green work engagement in the relationship between green human resource management and environmental performance. The current research provides valuable insights into green transformational leadership and green human resource management that can generate positive energy in manufacturing company managers in Indonesia.
THE LINKAGE OF STOCK TRADING DECISIONS, EI TRAITS, FINANCIAL LITERACY, AND RISK TOLERANCE ON GENERATION Z Sutejo, Bertha Silvia
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6930

Abstract

This study applied the dual process theory to explain the relationship between two systems in decision-making. The first system is associated with emotional intelligence (EI) traits. The second system is associated with financial literacy. Therefore, this study examines the two systems' effect on stock trading decisions by using a quantitative approach with non-probability and purposive sampling methods. The questionnaire was distributed to 350 Generation Z investors in Indonesia via Google Forms from July 2024 to September 2024. The study applied the SEM model with Amos statistical software and the Sobel Test using the Sobel calculator. As the results, this study indicate that the stock trading decision-making for Generation Z is influenced by System 2. While System 1 has no effect on their stock trading decision-making. Emotional intelligence (EI) traits do not affect stock trading decision-making, while financial literacy does. Financial tolerance also fully mediates the relationship between emotional intelligence (EI) traits and stock trading decision-making. Risk tolerance mediates some of the relationship between financial literacy and stock trading decision-making.
FINANCIAL SLACK AND ENVIRONMENTAL PERFORMANCE ON CARBON DISCLOSURE IN INDONESIA AND MALAYSIA MINING COMPANIES Jaunanda, Meiliana; Putri, Clementinne Nathasya
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6938

Abstract

The goal of this research is to examine how environmental performance and financial slack influence carbon emission disclosure, with the solvability ratio serving as a moderator. The study uses a checklist table to assess carbon emission disclosure. The PROPER rank measures environmental performance. Financial slack is calculated by dividing cash and cash equivalents by total sales. The debt-to-equity ratio is used to determine the solvency ratio. The study used secondary data from 61 Indonesian and Malaysian mining companies listed on the Indonesia Stock Exchange and the Bursa Malaysia. The information pertains to the years 2021–2022. The sample collection approach used in the study was purposive sampling. The study's conclusions point to a clear relationship between environmental performance and carbon emission disclosure, with environmental performance positively influencing disclosure of carbon emissions. The disclosure of carbon emissions is negatively impacted by financial slack and solvency ratio. This research also shown that the solvency ratio is unable to counteract the effects of financial slack and environmental performance on disclosure of carbonemissions.
THE MEDIATION ROLE OF EXTRA ROLE: ORGANIZATIONAL SUPPORT AND INFORMATION TECHNOLOGY ON EMPLOYEE PERFORMANCE Nurlasera Nurlasera; Uzoma Ononye; Qori Al Banin; Mayaastuti Mayaastuti; Yusmedi Nur Faizal
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6956

Abstract

The purpose of this study is to test and analyze the mediation role of extra role behavior on the influence of organizational support and information technology on Micro Small and Medium Enterprises (MSME) actors. Method in this study is a quantitative study. Where questionnaires are used to collect data, there are 189 respondents in the form of MSME actors who focus on female gender. Data analisys in this study using tools in the form of SEM-PLS. The results obtained are that extra role behavior is able to be a mediating variable in the indirect influence test has a positive and significant impact, on the other hand for the direct influence test also has a positive and significant influence. It is clear that the independent variable is able to be a good predictor of success in employee performance in making an art in this case traditional food as one of the cultural characteristics of the Riau Islands. The novelty in this study is the success of the extra role behavior possessed by women in making products that are more valuable.
MITIGATING OVERCONFIDENCE BIAS IN INVESTMENT BEHAVIOR: THE ROLES OF FINANCIAL LITERACY AND DIGITAL FINANCIAL LITERACY Hakim, Muhammad Saiful; Setyaningrum, Radini Vindy; Yunita, Rizki Dini Sandra; Nareswari, Ninditya
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.6959

Abstract

Previous researches have suggested the role of financial literacy in mitigating the effects of overconfidence bias. Nevertheless, there is currently no research available on the examination of digital financial literacy in mitigating the impact of overconfidence bias. Therefore, this study investigates the association between overconfidence bias and investment behavior, with a focus on the mitigating roles of financial literacy and digital financial literacy. Using the PLS-SEM approach in testing the hypotheses, this study sample comprises individuals from the millennial generation who routinely utilize investment applications on their mobile phones. The empirical result shows that overconfidence bias has a strong association with investment behavior. In addition, our findings indicate that possessing financial literacy has a beneficial effect in reducing the influence of overconfidence bias. However, the digital financial literacy has contrasting effects. Individuals with a greater level of digital financial literacy are more likely to have confidence in their decision-making abilities, as they believe they have a better understanding of financial applications.
IMPLEMENTATION OF GOOD GOVERNANCE, BUDGET PARTICIPATION, AND ORGANIZATIONAL COMMITMENT IN EFFORTS TO REDUCE BUDGET GAP Putri, I Gusti Ayu Made Asri Dwija; Wirawati, Ni Gusti Putu; Savitri, Komang Ayusta Devi; Okayanti, Ni Made Dwi
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.7076

Abstract

This study aims to analyze and obtain empirical evidence that budget participation affects budgetary slack. Another objective is to prove that good governance and organizational commitment can weaken the effect of budget participation on budgetary slack. This study is quantitative. The population of the study was all Regional Apparatus Organizations (OPD) in Gianyar Regency. The research sample was 28 OPDs. Data were collected by distributing questionnaires directly to each OPD. The research variables include budget participation, good governance, organizational commitment and budgetary slack. The measurement of variables uses a Likert scale. The analysis technique uses moderation regression analysis. The results of the study prove that Budget participation has a positive effect on budgetary slack. Therefore, the higher the level of budget participation, the greater the possibility of budgetary slack occurring. Good governance weakens or reduces the effect of budget participation on budgetary slack. At the same time, organizational commitment has no effect or cannot moderate the relationship between budget participation and budgetary slack.
IMPACT OF GLOBAL FINANCIAL STRESS INDEX AND GEOPOLITICAL RISK IN FORECASTING VOLATILITY Sherlim, Vincent Prayogi; Ekaputra, Irwan Adi
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 1 (2025): March
Publisher : Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya(STIESIA) Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24034/j25485024.y2025.v9.i1.7100

Abstract

This study examines the prediction ability of Global Financial Stress Index (GFSI) and Geopolitical Risk Index (GPR) to forecast the volatility of assumed safe-haven assets, like gold, silver and Bitcoin. The authors combine high-frequency model, Heterogeneous Autoregression Realized Volatility (HAR-RV) model, with low-frequency estimators that use low-frequency data, such as Parkinson, Garman-Klass, and Rogers-Satchel volatility estimators. The authors also examine the R2 out-of-sample of the created model to conclude that GFSI and GPR can be used to increase the forecasting accuracy of selected asset's volatility and demonstrate the effectiveness of variables to be used as predictive variables. According to the result, the R2 out-of-sample of models that used GFSI as predictive variable have better performance in forecasting on gold, silver and Bitcoin. Meanwhile, GPR is assumed not effective as GFSI to be a predictive variable. The RB-HAR-ASY-GFSI model can increase the forecasting accuracy up to 1.56% (5-day ahead prediction) on gold, up to 0.43% (66-day ahead prediction) on silver, and up to 2.78% (10-day ahead prediction) on Bitcoin. This study improves the undersWangding of financial and geopolitical uncertainty impact on the volatility of safe-haven assets. Second, it investigates the HAR-RV and low-frequency data combination model performance to forecast volatility assets.

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