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INDONESIA
Eksis: Jurnal Riset Ekonomi dan Bisnis
Published by STIE PGRI Dewantara Jombang
ISSN : 19077513     EISSN : 25496018     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
EKSIS: Jurnal Riset Ekonomi dan Bisnis merupakan kumpulan artikel tentang kajian ilmu ekonomi dan Penelitian dalam bidang Bisnis, Manajemen serta Akuntansi. Jurnal ini di terbitkan dalam rangka berperanserta dan memberikan sumbangan pemikiran dunia pendidikan tinggi dalam mendorong pembangunan ekonomi, Bisnis, Manajemen dan Akuntansi.
Arjuna Subject : -
Articles 160 Documents
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SOCIAL INFLUENCE AND E-WALLET BEHAVIORAL INTENTION IN INDONESIA’S DIGITAL PAYMENT ECOSYSTEM Raissa Anugrah; Endrawati Endrawati; Afridian Wirahadi Ahmad
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1675

Abstract

Introduction: E-wallet adoption has become a critical issue in Indonesia’s digital financial ecosystem, yet empirical evidence on its behavioral determinants remains inconsistent, particularly among general users in medium-sized cities. This study examines the effects of security, promotion, service features, and social influence on users’ behavioral intention to use e-wallet services in Padang City by extending the Theory of Planned Behavior. Methods: A quantitative explanatory design was employed using a cross-sectional survey. Data were collected from 388 e-wallet users selected through purposive sampling, with respondents required to have used an e-wallet and completed at least two transactions within one month. The data were analyzed using Partial Least Squares Structural Equation Modeling with SmartPLS 4.0. Results: Security, promotion, service features, and social influence positively and significantly affect behavioral intention. The model explains 45.2% of the variance in intention to use, with social influence emerging as the strongest predictor, followed by promotion, service features, and security. Discussion: The findings indicate that e-wallet adoption is shaped by technological assurance, promotional value, service functionality, and social normalization. This study contributes to digital payment adoption literature by demonstrating that behavioral intention is not only driven by individual evaluations of platform attributes but also by socially embedded influences. The results provide practical insights for e-wallet providers to strengthen security communication, value-based promotion, feature development, and community-oriented adoption strategies.
BEYOND PROMOTIONS AND STORE ATMOSPHERE: BRAND IMAGE DRIVES PURCHASES AT WARUNG MADURA Davina Shafa Felisa; K. Emi Trimiati
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1680

Abstract

Introduction: Warung Madura is a community-based convenience retail format operated predominantly by Madurese entrepreneurs and characterized by extended operating hours, accessible neighborhood locations, fast service, and the availability of daily necessities. Despite its rapid growth in urban retail markets, limited empirical evidence explains which marketing factors shape consumers’ purchase decisions in this informal retail format. This study examines the effects of promotion, store atmosphere, and brand image on purchase decisions at Warung Madura in East Semarang. Methods: A quantitative explanatory design was employed using a structured questionnaire distributed to 100 consumers who had purchased products from Warung Madura within the previous week. Data were analyzed using IBM SPSS Statistics 27 through validity and reliability testing, classical assumption tests, and multiple linear regression. Results: Promotion and store atmosphere show positive but insignificant effects on purchase decisions, whereas brand image has a positive and significant effect and emerges as the dominant predictor. The model explains 55.9% of the variance in purchase decisions. Discussion: The findings indicate that purchase decisions in Warung Madura are driven more by trust, familiarity, reliability, and collective brand perception than by formal promotion or physical store ambience. This study extends retail marketing literature by highlighting brand image as a key strategic asset in community-based convenience retail
WHEN DOES CSR AND INSTITUTIONAL OWNERSHIP CREATE VALUE? : (The Moderating Role of Financial Performance) Siti Nur Hidayati; Muhammad Ja'far Shodiq
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1684

Abstract

Introduction: Firm value has become a critical indicator of corporate sustainability and investor confidence, particularly in the basic materials sector, where business operations generate substantial environmental and social impacts. Despite extensive research, empirical findings regarding the effects of Corporate Social Responsibility (CSR) and institutional ownership on firm value remain inconclusive. This study investigates these relationships by examining the moderating role of financial performance while controlling for firm size. Method: This study employed a quantitative research design using secondary data collected from the annual and sustainability reports of manufacturing firms in the basic materials sector listed on the Indonesia Stock Exchange (IDX) during 2020–2024. Using purposive sampling, 80 firm-year observations were selected. The hypotheses were tested using Moderated Regression Analysis (MRA). Results: The findings indicate that CSR, institutional ownership, and firm size do not have a significant direct effect on firm value. However, financial performance significantly strengthens the relationship between CSR and firm value, whereas it does not moderate the relationship between institutional ownership and firm value. Discussion: These findings suggest that CSR contributes to firm value only when supported by strong financial performance. Conversely, institutional ownership alone is insufficient to enhance firm value, regardless of the firm's financial performance. This study enriches the literature on CSR, corporate governance, and firm value by providing evidence from Indonesia's basic materials sector and offers practical implications for managers and policymakers in promoting sustainable corporate practices and strengthening good corporate governance.
WHEN GREEN MARKETING LICENSES NON-GREEN LUXURY CONSUMPTION: A MORAL LICENSING PERSPECTIVE Fathayani Salsabila; Yolanda Masnita; Husna Leila Yusran
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1687

Abstract

Introduction: Although green marketing has been widely recognized for promoting environmentally friendly products, little is known about its ability to encourage consumers to purchase non-green luxury products. Drawing on Moral Licensing Theory, this study examines how green marketing influences purchase intention through brand ethical image while considering the role of luxury brand perception. Method: A quantitative cross-sectional survey was conducted among 130 Indonesian consumers familiar with luxury brands. Data were analyzed using Structural Equation Modeling (SEM) with AMOS to test the proposed relationships. Results: Green marketing positively influenced both brand ethical image and purchase intention. Brand ethical image also significantly enhanced purchase intention, while luxury brand perception remained a significant predictor of consumers' intention to purchase non-green luxury products. These findings indicate that consumers simultaneously consider ethical evaluations and symbolic brand value in luxury purchasing decisions. Discussion: This study extends Moral Licensing Theory by demonstrating that organizational sustainability communication can generate ethical evaluations that justify consumers' intention to purchase non-green luxury products. The findings highlight that sustainability communication and luxury symbolism complement one another, providing both theoretical insights into sustainable luxury consumption and managerial guidance for integrating environmental responsibility into luxury brand strategies.
CLIMATE-RELATED SCENARIO ANALYSIS DISCLOSURES BY JOHANNESBURG STOCK EXCHANGE BASIC RESOURCES COMPANIES – TOO HOT TO HANDLE Johanna Nel; Leana Esterhuyse
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1613

Abstract

Introduction: This study investigates climate-related scenario analysis (CRSA) disclosures by Johannesburg Stock Exchange (JSE)-listed basic resource companies, focusing on alignment with the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB)’s IFRS S2 standard. Methods: A CRSA checklist was developed based on 23 IFRS S2-based disclosure items to evaluate alignment. Content analysis of 32 basic resource companies’ 2023 integrated and climate-related reports was conducted. Results: While nine of the ten largest companies were fully aligned with IFRS S2, only half of the basic resource companies disclosed CRSA information. Smaller companies exhibited inconsistent alignment, reflecting potential resource and skills constraints. Larger companies responded more effectively to stakeholder expectations, using CRSA to signal strategic resilience to climate change. Discussion: The findings suggest that resources and expertise strongly influence disclosure practices and highlight the need for capacity-building initiatives to support smaller companies in developing economies. This research expands the literature on CRSA by providing unique insights into South Africa and the challenges and opportunities faced by its basic resource companies. It contributes to understanding some of the drivers of CRSA practices and offers practical recommendations to improve alignment with emerging global standards.
HUMAN CAPITAL DEVELOPMENT MODEL BASED ON THE BLUE ECONOMY FOR THE SUSTAINABILITY OF MILKFISH AQUACULTURE BUSINESSES IN HOLTEKAMP Yasir Attamimi; Rizka Cintya Edwar; Lisa Gresti Sella Damanik
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1673

Abstract

Introduction: This study aims to develop a blue economy-based human capital model to support the sustainability of fisheries businesses in Holtekamp Village, Jayapura City. It addresses the need for an integrative framework that links human capital development with blue economy principles to strengthen the long-term resilience and competitiveness of community-based fisheries. Methods: A qualitative case study approach was employed to explore the dynamics of community-based capacity development among fisheries business actors. Data were collected through in-depth interviews, field observations, and documentation involving four key informants, comprising three milkfish farmers with different levels of experience (senior, intermediate, and junior) and one fisheries product collector. Data were analyzed using an interactive approach involving data reduction, data display, conclusion drawing, and thematic analysis. Results: Human capital develops through intergenerational knowledge transfer, experiential learning, and adaptation to technological and environmental changes. Blue economy principles are reflected in efficient resource utilization, sustainable pond management, and the integration of economic productivity with ecological sustainability. Discussion: The study proposes an integrative human capital development model that combines experiential learning, institutional strengthening, technological adaptation, and blue economy principles. The findings suggest that fisheries business sustainability is shaped by the interaction of individual competencies, community institutions, and ecological processes. Although derived from a specific qualitative context, the model provides a robust conceptual foundation for future empirical validation across different fisheries communities and socio-economic settings.
DO STUDY SKILLS AND ACADEMIC SELF-FFICACY ENHANCE ACADEMIC PERFORMANCE? : (Examining The Mediating Role of Work-Study Balance) Makiah Makiah; Anis Nusron
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1677

Abstract

Introduction: Academic performance among working undergraduate students is shaped by individual learning competencies and contextual demands. However, empirical evidence on whether work-study balance explains academic performance remains limited. This study examines the effects of study skills and academic self-efficacy on academic performance and tests the mediating role of work-study balance. Method: A quantitative cross-sectional design was employed among 157 sixth- and eighth-semester students in Management and Accounting programs at a private university in East Java, Indonesia. Respondents had experience in freelance, part-time, or entrepreneurial activities. Data were collected through an online five-point Likert-scale questionnaire, while academic performance was measured using Cumulative Grade Point Average (CGPA). Data were analyzed using descriptive statistics in SPSS and Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. Result: Study skills had a significant positive effect on academic performance. Academic self-efficacy significantly influenced work-study balance. However, work-study balance had no significant effect on academic performance and did not mediate the relationships among study skills, academic self-efficacy, and CGPA. Discussion: These findings indicate that academic performance among working undergraduate students is driven more by effective study skills than by academic self-efficacy or work-study balance. Strengthening students’ learning competencies is therefore essential to support academic success in dual-role contexts. Keywords: Study Skills; Academic Self-Efficacy; Work-Study Balance; Academic Performance
BEYOND PRICE: FUNCTIONAL AND RELATIONAL DETERMINANTS OF PURCHASE DECISIONS IN MADURA CONVENIENCE STORES Kharina Adelia Putri; M. Rifki Bahktiar
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1703

Abstract

Introduction: This study examines the influence of price, word of mouth, location, ease of transaction, and customer relationship on purchasing decisions at Warung Madura in Semarang City. Despite extensive research on consumer purchasing behavior in retail settings, limited evidence is available regarding the determinants of purchasing decisions in traditional community-based retail businesses, particularly Warung Madura, which has become increasingly prominent in urban areas. Methods: A quantitative survey approach was employed using purposive sampling to collect data from 211 consumers who had made purchases at Warung Madura in Semarang City. Data were analyzed using multiple linear regression with SPSS version 27 after passing validity, reliability, and classical assumption tests. Results: The findings indicate that price, word of mouth, location, ease of transaction, and customer relationship simultaneously have a significant effect on purchasing decisions. Partially, location, ease of transaction, and customer relationship positively influence purchasing decisions, whereas price and word of mouth do not show significant effects. The model explains 57.3% of the variance in purchasing decisions. Discussion: The findings suggest that purchasing decisions in community-based retail businesses are driven primarily by functional and relational factors rather than economic considerations alone. This study extends the understanding of consumer behavior in traditional retail contexts and provides practical insights for business owners to strengthen customer relationships, improve service accessibility, and enhance transaction convenience to sustain competitive advantage.
FROM LEGACY INFRASTRUCTURE TO DIGITAL GROWTH: AN INTEGRATED SWOT ANALYSIS OF PT POS INDONESIA'S JOMBANG BRANCH Mutiarni Rita; Amelia Jenvi Candra
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1746

Abstract

Introduction: Indonesia's courier and logistics market is being reshaped by e-commerce expansion, digital platforms, automation, and escalating customer expectations. These changes create a strategic paradox for incumbent postal organizations: extensive networks and institutional legitimacy remain valuable, yet legacy routines and uneven digital capabilities can impede rapid adaptation. This study evaluates the strategic position of PT Pos Indonesia's Jombang Branch and formulates branch-level development priorities through an integrated SWOT process. Methods: A descriptive qualitative case-study design was employed. Evidence was obtained from direct observation, semi-structured interviews with branch-level managerial informants, organizational documentation, and relevant literature. Internal and external strategic factors were synthesized through Internal Factor Evaluation (IFE) and External Factor Evaluation (EFE) matrices, followed by SWOT quadrant positioning and a TOWS-style strategy matrix. Source triangulation and informant cross-checking were used to enhance credibility. Results: The branch recorded an IFE score of 3.22 and an EFE score of 2.79. Strengths exceeded weaknesses by 1.48, while opportunities exceeded threats by 1.13, placing the organization in Quadrant I. The dominant strengths were trusted state-owned-enterprise reputation and nationwide service coverage; the most consequential opportunities were e-commerce growth and digital technology. Priority strategies include digitally enabled service expansion, marketplace and SME partnerships, workforce capability development, process simplification, and customer-facing service innovation. Discussion: The findings show that legacy assets create advantage only when converted into adaptive capabilities. The study contributes by linking branch-level SWOT diagnosis with the resource-based view and dynamic-capabilities perspective, demonstrating how physical reach, legitimacy, and service diversity can support growth when combined with digital sensing, rapid reconfiguration, and ecosystem collaboration. Managerially, the branch should treat digital transformation as an organizational capability-building program rather than a stand-alone technology project.
OPERATIONS STRATEGY IN ENERGY INVESTMENT PRIORITIZATION: AN ADAPTED AHP-BASED DECISION FRAMEWORK Abdi Nafi; Gogor Arif Handiwibowo
Eksis: Jurnal Riset Ekonomi dan Bisnis Vol 21 No 1 (2026): April (2026) - September (2026)
Publisher : Institut Teknologi dan Bisnis PGRI Dewantara Jombang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26533/eksis.v21i1.1748

Abstract

Introduction: Prioritizing investment projects in power-generation companies is a strategic operations decision because capital allocation shapes asset reliability, service continuity, organizational resilience, and energy-transition capability. This study develops a transparent managerial framework that integrates financial, technical, strategic, risk, and sustainability considerations in project selection at PT PLN Nusantara Power. Methods: An exploratory sequential mixed-methods case study combined internal document analysis, executive contextualization, criterion assessments by Board members, and evaluations of 50 project proposals by Vice Presidents. Criterion weights were derived through an adapted Analytical Hierarchy Process, while project priorities were synthesized using a weighted additive approach. Results: The resulting structure placed financial considerations slightly ahead of strategic, risk, sustainability, and technical considerations, indicating a balanced decision logic rather than financial dominance. Major inspections, system restoration, and maintenance projects ranked prominently, highlighting the strategic role of sustaining capital in protecting operating capability. Project priority was also not simply determined by project size. Discussion: The framework connects operations strategy with project portfolio governance by making trade-offs more visible, documenting managerial reasoning, and distinguishing technical feasibility from strategic prioritization. It offers a practical basis for more consistent capital-allocation decisions, while its context-specific design and limited expert sample require cautious application and further validation.

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