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Journal of Innovation in Business and Economics
ISSN : 25809431     EISSN : 25812025     DOI : -
Core Subject : Economy,
The Journal of Innovation in Business and Economics (JIBE) is published by the Department of Economics and Business at University of Muhammadiyah Malang in 2017. Previously this journal was known as Jurnal Media Ekonomi that was initially published in 2000. In 2011 until 2016, this journal was renamed as Ekonomika Bisnis: Jurnal Penelitian dan Pemikiran. JIBE is a generalist; academic review covering all fields of business, management, accounting, and economics. The journal seeks to examine the emerging and state of the art future innovations in business, economics and management made possible by advances in information, communication, and technologies. We welcome contributions covering all fields of business innovations including, but not limited to information, communication and technologies applications in business, cost and revenue model, business ethics, business strategy, applications of innovation in business and management, entrepreneurship & innovation, information systems, international business & cross-cultural studies, marketing, organization studies, general management as well as micro and macro economics.
Arjuna Subject : -
Articles 222 Documents
Sharia financial literacy: Decoding the nexus of civil Servants' investment choices Mutiara, Nisa; Askafi, Eka; Yani, Ahmad; Aquinas, Fahmi; Herry Setyawan, Wawan
Journal of Innovation in Business and Economics Vol. 7 No. 01 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i01.29022

Abstract

This research explores the complex relationship between Sharia financial literacy, financial attitudes, financial satisfaction, and investment decisions in the context of Islamic economics. Utilizing path analysis with 369 civil servant respondents, this study reveals that both Sharia financial literacy and financial attitudes positively impact financial satisfaction. This implies that individuals possessing a strong understanding of Islamic finance and a positive attitude toward their finances tend to experience higher levels of financial satisfaction. Nevertheless, variations in their direct influence on investment decisions do surface. Sharia financial literacy exhibits a relatively modest direct influence on investment decisions, while financial attitudes exert a strong direct influence on investment decisions. Despite the modest direct impact of Sharia financial literacy on investment decisions, its indirect influence remains substantial.
Conquering fear and embracing joy in shaping marketing strategy Caesarina, Aldila; Alfina, Alfina; Narendra Wardhana, Aditya; Risfana Sari, Lisa
Journal of Innovation in Business and Economics Vol. 7 No. 02 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i02.25423

Abstract

This research investigates the complex relationship between Problematic Internet Use (PIU) and various psychological aspects, including Psychology and Mental Health (PMH), Fear of Missing Out (FOMO), and Social Media Fatigue (SMF). Furthermore, this study was designed to test various psychological conditions regarding the Desire to Disconnect (DD), which ultimately results in the Joy of Missing Out (JOMO). Through a structural equation model involving 310 college student respondents, this study found that PIU is associated with suffering in PMH, heightened FOMO, increased SMF, and that FOMO exacerbates SMF. Moreover, SMF drives DD, and ultimately, DD causes JOMO. In response to these findings, we argue that achieving a balance in marketing between FOMO-based online strategies and JOMO-based offline strategies needs to be a priority for sustainable brand marketing. Additionally, it is crucial to consider ethical issues in content moderation aligned with FOMO to safeguard consumers' psychological well-being.
Urban-rural polarization: Financial implications, challenges, and opportunities Mori, Margherita
Journal of Innovation in Business and Economics Vol. 7 No. 02 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i02.26288

Abstract

This study endeavors to establish a conceptual framework for examining the cross-cultural issues arising from the enduring financial factors contributing to the urban-rural divide. Central to this framework is the notable disparity in available financial services between urban and rural areas. This discrepancy draws attention to the ongoing necessity to combat financial exclusion within agricultural communities. Broadly speaking, it underscores the significance of rural finance, a subset within the financial realm, as a potential means to mitigate the observed polarization. Key factors to be underscored include ongoing technological advancements driving progress in the financial sector and instilling hope in digitization as a catalyst for fostering inclusive finance.
Loyalty to influencers and brands: Does negative publicity matter? Bari, Andriansyah; Angguna, Welan Mauli; Izzati, Astika Ulfah; Anindea, Frianka
Journal of Innovation in Business and Economics Vol. 8 No. 01 (2024): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v8i01.26400

Abstract

This study examines the critical role of trust in influencer marketing, focusing on how influencers' expertise, authenticity, and homophily affect followers' trust and subsequently their loyalty to influencers and brands. Utilizing an explanatory quantitative cross-sectional non-experimental design, data were collected from 202 consumers who purchased products such as cosmetics, skincare, and gadgets after watching influencer reviews. The data were analyzed using structural equation modeling (SEM). The results indicate that authenticity, expertise, and homophily significantly contribute to building trust among followers, with authenticity being the most influential factor. Meanwhile, physical attractiveness does not significantly impact trust. Furthermore, trust serves as a crucial mediator, enhancing the effects of influencers' expertise, authenticity, and homophily on both influencer and brand loyalty. Interestingly, negative publicity does not significantly moderate the relationship between trust and loyalty, suggesting that cultural and emotional factors in the Indonesian context may mitigate its impact.
Clustering-based value investing strategy in the Helsinki Stock Exchange: k-means algorithm Issakainen, Topi
Journal of Innovation in Business and Economics Vol. 7 No. 02 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i02.26424

Abstract

The purpose of this research is to study the possibility of combining quantitative clustering of stocks and value investing. The feasibility of this approach is tested using Finnish market data from the period 2005 to 2021. The benchmark index used in this research is the OMX Helsinki Growth Index. The strategy is based on the combination of P/E, P/CF, and P/B ratios, which serve as the basis for the k-means algorithm. The data is pre-processed by removing stocks that have not generated positive earnings and cash flow during the previous 12 months. The k-means algorithm assigns stocks to clusters, and the cluster with the lowest financial ratios is chosen as the value portfolio. The research also includes a sensitivity analysis of value portfolios, where the initial number of clusters in the clustering phase ranges from three to ten. Returns of different value portfolios are compared to each other and the benchmark index. The quality of results is evaluated using the Sharpe ratio and Jensen's alpha. According to the findings, the value portfolio constructed using nine clusters generated the highest risk-adjusted return, with an annual return of 30.27% over the 2005 to 2021 period. Furthermore, the best-performing value portfolio from 2005 to 2017 was compared to the benchmark index from 2018 to 2021. The value portfolio achieved an annual return of 26.05% during the 2018-2021 period, while the corresponding return of the benchmark index was 11.74%.
Determinant of online shopping intention: Satisfaction as an intermediary Sukesi, Sukesi
Journal of Innovation in Business and Economics Vol. 7 No. 01 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i01.28146

Abstract

Conducted with a sample size of 120, the research employed structural equation modeling for analysis. The findings revealed several influential factors, including perceived trust, perceived value, perceived risk, and satisfaction, impacting behavioral intentions among Indonesian online shoppers. Notably, satisfaction emerged as a mediating variable in the relationship between perceived trust, perceived value, perceived risk, and behavioral intentions. The implications suggest that businesses and online retailers seeking to enhance customer satisfaction and drive desired behaviors should consider strategies aligned with these influential factors. However, it is crucial for both researchers and practitioners to acknowledge the study's limitations. Further research endeavors are encouraged to broaden and refine our understanding of consumer behavior in the Indonesian online shopping landscape.
Navigating entrepreneurial terrain: The role of technology readiness and gender in shaping intentions Haryanto, Haryanto; Haryono, Tulus; Tanding Suryandari, Retno; Sugiarto, Catur; Suryanadi, Pram; Rawidyo Putro, Tetuko; Budiwati, Christiyaningsih
Journal of Innovation in Business and Economics Vol. 7 No. 01 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i01.28154

Abstract

The pervasive influence of information technology across various life sectors, particularly in the business realm, has prompted this study to investigate the impact of technology readiness on entrepreneurial intentions within a student context. A purposive sampling method was employed to select a sample comprising 213 college students, and Structural Equation Modeling (SEM) was utilized to assess the interrelationships among the study's constructed variables. The findings underscore the significant impact of technology readiness on attitudes, which, in turn, plays a pivotal role in shaping entrepreneurial intentions. Furthermore, the research highlights the influential roles of subjective norms and perceived behavioral control in the formation of entrepreneurial intentions. Conversely, results from the Multi-Group Analysis (MGA) do not support the gender variable as a moderating factor. However, a noteworthy revelation emerges from the bootstrapping analysis, unveiling gender-based differences in the influence of subjective norm variables on entrepreneurial intentions when comparing male and female groups.
Real Business Cycle: Stochastic driving force decomposition of output dynamics in East Java Rofik, Mochamad; Dwidyah Rini, Ayu; Kaluge, David; Alfarado, Rafael
Journal of Innovation in Business and Economics Vol. 7 No. 02 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i02.28160

Abstract

This study aims to examine output dynamics in East Java using the Real Business Cycle (RBC) model. We constructed an RBC model with two stochastic shocks originating from the demand and supply sides. The RBC model in this study shows that output dynamics, as the driver of the business cycle in East Java, are mostly caused by exogenous shocks originating from the demand side. The model also shows that some variables such as wage levels, consumption, and capital accumulation exhibit inertia patterns in response to shocks. Therefore, after releasing the assumptions underlying the RBC model and accommodating fiscal and monetary policies, we argue that the response time lag shown by some of these variables can be advantageous for authorities to mitigate the impact of shocks and determine policies. Additionally, two main factors that determine policy effectiveness are understanding the sources of shocks and the timing of policy implementation.
The dual pillars of academic excellence: Transformational leadership and organizational commitment Sustiyatik, Enni
Journal of Innovation in Business and Economics Vol. 7 No. 01 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i01.28221

Abstract

This research delves into the connection between transformational leadership, organizational commitment, and lecturer performance within the realm of higher education. Its primary objective is to comprehend how transformational leadership and organizational commitment influence lecturers and their overall effectiveness. The study encompassed 178 lecturers from Kadiri University. Data collection involved the administration of a well-structured questionnaire, and subsequent analysis was conducted using multiple linear regression techniques. The results underscore a robust and positive association between transformational leadership and lecturer performance. Furthermore, the role of organizational commitment in lecturer performance is noteworthy. These findings hold pragmatic significance for educational institutions, highlighting the imperative of cultivating transformational leadership and organizational commitment to augment faculty performance and cultivate dynamic learning environments.
Tweeting the economy: Analyzing social media sentiments and macroeconomic indicators Fitriani, Insi; Amalyah Agus, Anna
Journal of Innovation in Business and Economics Vol. 7 No. 02 (2023): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v7i02.28227

Abstract

This research aims to examine the correlation between social media sentiment and the Consumer Confidence Index (CCI) as well as Gross Domestic Product (GDP) in Indonesia. Data were collected through web scraping from Twitter (now also known as X) spanning from 2019 to 2022 on a monthly basis. Using Pearson and Kendall’s Tau correlation tests, the study found that the correlation between Twitter sentiment and the CCI is not significant. However, there is a significant correlation between Twitter sentiment from news accounts and GDP The findings indicate that the views and perceptions expressed in social media sentiment, particularly from news accounts on Twitter, could serve as an initial indicator of Indonesia's GDP.

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