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INDONESIA
EKUITAS (Jurnal Ekonomi dan Keuangan)
ISSN : 2548298X     EISSN : 25485024     DOI : -
Core Subject : Economy,
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 622 Documents
DONALD TRUMP'S IMPACT: MEASURING STOCK REACTION AND CRYPTO ASSET VOLATILITY I Kadek Bellyoni Dwijaya; Sri Dewi Fitrianingsih; Santi Rahmawati
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 10 No 1 (2026): 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.y2026.v10.i1.7503

Abstract

This study analyzes the impact of Donald Trump’s political dynamics on the Indonesian stock market and the volatility of global cryptocurrency assets. The objective is to compare the responses of both markets to major political events during the Trump 2.0 era. The study employs an event study approach, using the Wilcoxon test to examine stock abnormal returns and GARCH (1,1) and EGARCH models to analyze cryptocurrency volatility. The findings show that the 2024 U.S. presidential election and Donald Trump’s inauguration did not produce significant reactions in the average abnormal returns of Indonesian stocks. However, the announcement of import tariff increases in April 2025 generated a significant negative response in the short to medium term. In contrast, the cryptocurrency market experienced sharp increases in volatility around the election period, with strong evidence of volatility clustering. These results indicate that the Indonesian stock market is primarily driven by economic fundamentals, whereas the cryptocurrency market is more sensitive to political sentiment and pro-cryptocurrency figures. The findings support the semi-strong form of the Efficient Market Hypothesis and the Uncertain Information Hypothesis, highlighting the need for distinct investment strategies and improved financial literacy amid global political dynamics.
SUSTAINABLE TOURISM IN SOUTH SULAWESI: DESTINATION ATTRACTIVENESS, SERVICE QUALITY, MARKETING, COMMUNICATION Abedneigo Carter Rambulangi; Oktavianus Pasoloran; Otto Randa Payangan; Idrus Taba; Jemi Pabisangan Tahirs
EKUITAS (Jurnal Ekonomi dan Keuangan) Vol 9 No 4 (2025): December
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.i4.7458

Abstract

This study aims to analyse the influence of destination attractiveness, tourism service quality, marketing strategy, and communication mix on sustainable tourism in South Sulawesi. The research used quantitative methods and collected data through direct and online surveys of 350 domestic tourists visiting key destinations, namely Makassar, Parepare, Tana Toraja, and North Toraja. The sampling technique was purposive with the criteria of tourists who have travel experience at the study locations. Data were analysed using Structural Equation Modelling–Partial Least Squares (SEM-PLS 3.0) to test the measurement and structural models. The results showed that destination attractiveness, service quality, and marketing strategy had a positive and significant influence on sustainable tourism, both directly and through the communication mix. Furthermore, the communication mix was shown to exert a significant influence and to act as a full mediator in the relationship between the independent variables and sustainable tourism. These findings emphasise the importance of integrated communication—including advertising, public relations, social media, and direct marketing—in shaping tourist perceptions and encouraging sustainable tourism practices. In practice, this research provides implications for stakeholders and policymakers in designing tourism development strategies aligned with environmental preservation, culture, and the welfare of local communities in South Sulawesi.

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