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INDONESIA
Ekonomi dan Bisnis
ISSN : 23560282     EISSN : 26847582     DOI : http://dx.doi.org/10.35590/jeb
Core Subject : Economy,
Jurnal ini dimaksudkan sebagai media kajian ilmiah hasil penelitian, pemikiran dan kajian analisis-kritis mengenai isu Ekonomi, Manajemen dan Bisnis.
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Articles 6 Documents
Search results for , issue "vol 12 no 2 (2025): ekonomi dan bisnis" : 6 Documents clear
The Role of Profitability in Determining Policy Dividends: An Intervening Variable Perspective Yono; Erna Hernawati; Jubaedah
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.9067

Abstract

Purpose: This study aims to analyze the effect of the investment opportunity set, debt policy, and business effectiveness on dividend policy with profitability as an intervening variable in consumer goods industry companies listed on the Indonesia Stock Exchange during the 2018–2022 period.. Design/methodology/approach: This research employs a quantitative approach using secondary data. The sample was selected through purposive sampling, resulting in 24 companies over five periods (2018–2022) with a total of 120 observations. Data were analyzed using panel data regression processed with Eviews version 13. Findings: The results show that (1) the investment opportunity set has no effect on dividend policy, (2) debt policy has no effect on dividend policy, (3) business effectiveness affects dividend policy, (4) profitability affects dividend policy, (5) the investment opportunity set affects profitability, (6) debt policy has no effect on profitability, (7) business effectiveness affects profitability, (8) the investment opportunity set does not directly affect dividend policy through profitability, (9) debt policy does not directly affect dividend policy through profitability, and (10) business effectiveness does not directly affect dividend policy through profitability. Research limitations/implications: This study is limited to the consumer goods industry sector and a five-year observation period; therefore, the findings cannot be generalized to all sectors. Future research is recommended to expand the sectoral scope, extend the observation period, and include additional relevant variables. Practical implications: The findings provide insights for company management and investors in formulating dividend policies by considering business effectiveness and profitability as key determinants of dividend distribution decisions. Originality/value: This study offers empirical evidence by examining the role of profitability as an intervening variable in the relationship between the investment opportunity set, debt policy, business effectiveness, and dividend policy within the Indonesian consumer goods industry sector. Paper Type: This paper is a quantitative empirical research study employing panel data regression analysis. Keywords: Investment Opportunity Set; Debt Policy; Business Effectiveness; Profitability; Dividend Policy.
Kebahagiaan di Tempat Kerja sebagai Mediator Antara Kepemimpinan Pelayan (Servant Leadership) dan Komitmen Afektif di Sektor Kesehatan Achmad Adi Fauzy; Dian Ekowati; Muzakki Muzakki
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.9106

Abstract

Purpose: This study aims to analyze how servant leadership influences affective commitment through happiness at work both directly and indirectly. Design/methodology/approach: The quantitative method used was administering questionnaires to collect data from the respondents of the case nurses. The sample of this study consisted of 81 respondents selected using a random sampling technique. Findings: The results revealed that servant leadership has a positive but insignificant effect on affective commitment and a positive and significant effect on happiness at work. Happiness at work has a positive and significant effect on affective commitment. Happiness at work positively and significantly mediates the relationship between servant leadership and affective commitment. Research limitations/implications: This study has several limitations, including the use of a cross-sectional method that relies on data collected at a single point in time and the focus on the hospital sector. In addition, this study only considers a limited number of constructs influencing happiness at work and affective commitment, with a primary focus on servant leadership. Practical implications: Practically, the results of this study can also be used as input to hospitals and leaders in the hospital environment regarding the importance of the role of leaders, especially servant leadership, in increasing employee happiness at work and affective commitment. Originality/value: The results of this study can provide important contributions to science, especially in the field of human resource management, and can become one of the study materials related to servant leadership, happiness at work, and affective commitment. Paper type: Research paper.   Keywords: Servant leadership, affective commitment, happiness at work.
The Influence of Interest Rates, Inflation and Foreign Exchange Reserves on the Rupiah Exchange Rate Cut Rajwa Azra; Talbani Farlian
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.10113

Abstract

Purpose: This study aims to analyze the influence of interest rates, inflation, and foreign exchange reserves on the Indonesian rupiah exchange rate during the period 1991–2023. Design/methodology/approach: This research employs a quantitative approach using secondary time-series data obtained from the World Bank. Statistical analysis is conducted to examine the relationship between interest rates, inflation, and foreign exchange reserves as independent variables and the rupiah exchange rate as the dependent variable. Findings: The results indicate that approximately 82.12% of the variation in the rupiah exchange rate can be explained by the independent variables, as reflected by the R-squared (R²) value of 0.821163. Interest rates do not show a statistically significant effect on the exchange rate (p-value = 0.5446). Inflation shows a p-value of 0.0824, indicating a potential influence but not statistically significant. In contrast, foreign exchange reserves have a significant effect on the exchange rate with a p-value of 0.0000, supporting Hypothesis 3 (H3). Additionally, the overall model is statistically significant as indicated by the Prob(F-statistic) value of 0.000000. Research limitations/implications: This study focuses only on three macroeconomic variables—interest rates, inflation, and foreign exchange reserves—so other internal and external factors that may influence exchange rate fluctuations are not included. Future research is recommended to incorporate additional variables and explore broader macroeconomic dynamics. Practical implications: The findings highlight the important role of foreign exchange reserves in maintaining the stability of the rupiah exchange rate. These results provide valuable insights for policymakers, particularly in designing effective monetary policies to support currency stability and economic resilience. Originality/value: This research contributes to the literature on Indonesia’s macroeconomic dynamics by providing long-term empirical evidence (1991–2023) on the relationship between key macroeconomic indicators and the rupiah exchange rate. Paper Type: Research Paper Keywords: Exchange Rate; Interest Rates; Inflation; Foreign Exchange Reserves; Regression Analysis.
Determinants of Manufacturing Industry Agglomeration in Indonesia Benny Imantria
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.10367

Abstract

Purpose: This study aims to identify determinants of manufacturing industry agglomeration in Indonesia. Design/methodology/approach: Data used consists of 34 provinces over the period 2015-2023, which are analyzed using panel data regression with a fixed effect model. Findings: This study found that manufacturing industry agglomeration has different determinants in each region. Average years of schooling, road infrastructure, wage, and per capita income have a significant positive effect, labor force and labor productivity have a significant negative effect, while FDI has no significant effect on manufacturing industry agglomeration in Indonesia. Furthermore, this study also found that there are diseconomies of agglomeration where manufacturing firms begin to relocate and spread out from the agglomeration economic area. Research limitations/implications: This study only identifies the determinants of manufacturing industry agglomeration from the perspectives of production, distribution, and consumption. It has not yet addressed the diseconomies of agglomeration. Additionally, spatial analysis methods have not been used to determine the impact of economic agglomeration on neighboring provinces. Future studies could examine how technology, trade openness, migration, and institutions affect manufacturing industry agglomeration in Indonesia. Additionally, the threshold at which agglomeration leads to diseconomies also needs to be identified. Practical implications: In order to enhance labor absorption and labor productivity, policymakers are expected to increase the allocation of FDI to manufacturing industry and reduce skill mismatches. Furthermore, to attract private sector investment and create manufacturing industry agglomerations, the government needs to accelerate infrastructure development outside Java. Originality/value: Novelty of this study compared to previous studies lies in the independent variables representing production, distribution, and consumption activities. Paper Type: Research Paper Keywords: Agglomeration economies, Deindustrialization, Economic growth, Labor, Manufacturing industry.
Memimpin dengan Visi: Bagaimana Kepemimpinan Transformasional Menginspirasi Inovasi melalui Keterlibatan dalam Proses Kreatif Adistyo Mulyonugroho; Muzakki Muzakki
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.11409

Abstract

Tujuan: Penelitian ini bertujuan untuk menganalisis pengaruh kepemimpinan transformasional terhadap perilaku kerja inovatif (innovative work behavior) dengan keterlibatan dalam proses kreatif (creative process engagement) sebagai variabel mediasi, dalam konteks sektor perbankan. Desain/metodologi/pendekatan: Pendekatan kuantitatif digunakan dengan melibatkan 43 responden, yang dianalisis menggunakan Partial Least Squares Structural Equation Modeling (PLS-SEM). Temuan: Hasil penelitian menunjukkan bahwa kepemimpinan transformasional berpengaruh positif dan signifikan terhadap perilaku kerja inovatif (β = 0,461; p = 0,009) dan terhadap keterlibatan dalam proses kreatif (β = 0,817; p = 0,000). Selain itu, keterlibatan dalam proses kreatif juga berpengaruh positif dan signifikan terhadap perilaku kerja inovatif (β = 0,201; p = 0,029), sekaligus memediasi hubungan antara kepemimpinan transformasional dan perilaku kerja inovatif secara signifikan. Batasan penelitian/dampak: Penelitian ini memiliki keterbatasan pada ukuran sampel yang relatif kecil dan hanya berfokus pada satu institusi perbankan, sehingga generalisasi hasil perlu dilakukan dengan hati-hati. Selain itu, penggunaan data berbasis persepsi responden berpotensi menimbulkan bias subjektif. Implikasi praktis: Memberikan wawasan strategis bagi manajemen bank dalam membangun kepemimpinan yang mendorong keterlibatan kreatif karyawan untuk meningkatkan inovasi organisasi. Keaslian/nilai: Penelitian ini memberikan kontribusi dengan mengintegrasikan keterlibatan dalam proses kreatif sebagai mekanisme mediasi dalam hubungan antara kepemimpinan transformasional dan perilaku kerja inovatif, khususnya dalam konteks sektor perbankan yang memiliki karakteristik regulasi tinggi. Jenis makalah: Makalah penelitian.   Kata Kunci: Kepemimpinan Transformasional; Innovative Work Behavior; Creative Process Engagement; Perbankan.
Analisis Penerapan Upah Minimum Provinsi dan Tingkat Pendidikan Terhadap Penyerapan Tenaga Kerja Di Provinsi Kalimantan Ariani; Muh. Irfandy Azis; Charitin Devi; Rista Kartika
Ekonomi dan Bisnis Vol 12 No 2 (2025): EKONOMI DAN BISNIS
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35590/jeb.v12i2.12803

Abstract

Purpose: This study aims to analyze the effect of provincial minimum wages and education levels on labor absorption in Kalimantan Province. Design/methodology/approach: The study used secondary data from 2019 to 2024 with a panel data regression method. The estimation was conducted using the Random Effect Model (REM) approach to examine the effect of independent variables on labor absorption. Findings: The results show that the provincial minimum wage does not have a significant effect on labor absorption, while the level of education has a significant effect on labor absorption. Simultaneously, the provincial minimum wage and education levels have a positive and significant effect on labor absorption as indicated by an increase in the number of workers absorbed in Kalimantan Province. Research limitations/implications: This study is limited to the period of 2019-2024 and only covers the Kalimantan region, so the results cannot be generalized to all regions in Indonesia. Further studies are recommended to expand the variables and coverage area in order to obtain a more comprehensive understanding. Practical implications: These findings emphasize the importance of establishing a balanced minimum wage policy and improving the quality of education and workforce skills as strategies to strengthen labor absorption and reduce unemployment rates in Kalimantan Province. Originality/value: This study provides empirical evidence by analyzing the effect of provincial minimum wages and education levels on labor absorption using cross-provincial panel data in Kalimantan from 2019–2024. The study contributes to the literature on regional labor markets, particularly in natural resource–based regions such as Kalimantan. Paper type: Research paper.   Keywords: Provincial Minimum Wages; Education Level; Labor Absorption; Kalimantan Province.

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