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INDONESIA
EKONOMI, KEUANGAN, INVESTASI DAN SYARIAH (EKUITAS)
Published by Forum Kerjasama Pendidikan TInggi
ISSN : -     EISSN : 2685869X     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
1. Auditing, 2. Financial Management, 3. Marketing Management, 4. Strategic Management, 5. Organizational Behavior, 6. Operations Management, 7. Change Management, 8. Management of Sharia, 9. Knowledge Management 10.Entrepreneurship, 11.E-Business, 12.Business Management, 13.Capital Market, 14.Risk Management, 15.Syariah banking, 16.Economics of Sharia, 17.Islamic Capital Market, 18.Financial accounting, 19.Managerial accounting, 20.Behavioral accounting, 21.Tax accounting, 22.Public Sector Accounting, and 23.Syariah accounting
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 18 Documents
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Search results for , issue "Vol 7 No 3 (2026): February 2026" : 18 Documents clear
Pengaruh Pengangguran dan Pertumbuhan Penduduk Terhadap Kemiskinan di Indonesia: Analisis Data Panel Tahun 2020-2024 Farahdiba, Farahdiba; Rasyidin, M; Saleh, M
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.8273

Abstract

This study aims to analyze the effect of unemployment and population growth on poverty levels in Indonesia. The research was conducted across 34 provinces during the 2020–2024 period using secondary data obtained from the Central Bureau of Statistics. The study employed a quantitative approach with panel data regression analysis. The best model selection was carried out using the Chow, Hausman, and Lagrange Multiplier tests, which indicated that the Random Effect Model was the most appropriate. The results show that unemployment has a negative but statistically insignificant effect on poverty levels. This finding suggests that an increase in unemployment does not necessarily lead to higher poverty rates, possibly due to the role of the informal sector and social protection programs that help maintain household purchasing power. In contrast, population growth has a positive and significant effect on poverty levels. Simultaneous testing shows that both variables jointly have a significant effect on poverty, with a coefficient of determination (R²) of 3.86 percent, indicating a relatively low contribution to variations in poverty. These results imply that other factors beyond the research variables, such as income inequality, education quality, and access to basic services, have a more dominant influence. The study emphasizes the importance of integrated policies focused on controlling population growth and improving job quality to sustainably reduce poverty rates.
Analisis Fundamental Perusahaan LQ45 Tahun 2024: Hubungan EPS dan PBV dengan Harga Saham Aflaha, Vini Annesia; Dwiyanti, Yeni Hilma
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.8523

Abstract

This study aims to examine the influence of Earnings per Share (EPS) and Price to Book Value (PBV) on stock prices of companies listed in the LQ45 Index on the Indonesia Stock Exchange in 2024. The background of this research is based on the substantial fluctuations in stock prices during the 2024 period, reflecting unstable global and domestic economic conditions. A quantitative approach with a causal associative research design was employed. The population consisted of all companies included in the LQ45 Index, and a total of 45 companies were selected as the sample using purposive sampling. The study used secondary data obtained from annual financial statements and stock price information published by the Indonesia Stock Exchange. Data were analyzed using multiple linear regression with SPSS, preceded by classical assumption tests (normality, multicollinearity, and heteroscedasticity tests). The results indicate that EPS has a positive and significant effect on stock prices, with a significance value of 0.000 and a regression coefficient of 0.476, meaning that higher earnings per share lead to increased stock prices. PBV also shows a positive coefficient of 0.306 but is not statistically significant, with a significance value of 0.147, implying that PBV does not have a partial effect on stock prices, although market valuation relative to book value still shapes investor perception. The simultaneous test demonstrates that EPS and PBV jointly have a significant effect on stock prices, with a significance value of 0.000 and an adjusted R² of 0.618, indicating that the model explains 61.8% of stock price variation, while the remaining 38.2% is influenced by other factors outside the model. Overall, the findings confirm that EPS is the most decisive fundamental indicator in determining the stock prices of LQ45 companies. These results reinforce that fundamental factors continue to play a crucial role in shaping market valuation in Indonesia.
Peran Gender Sebagai Moderasi Dalam Pengaruh Suku Bunga, Inflasi, dan Literasi Keuangan Terhadap Minat Investasi Generasi Muda Widiantari, Komang Sri; Palguna, I Gusti Agung Bayu Satria; Suidarma, I Made; Sunarta, I Nyoman
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.8762

Abstract

This study investigates the influence of interest rates, inflation, and financial literacy on investment intention among Generation Z in Bali Province, with gender serving as a moderating variable. The research is motivated by the increasing participation of young people in Indonesia’s capital market, which reflects a growing awareness of financial opportunities in the digital era. A quantitative approach was applied using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method, analyzed through SmartPLS 4 software. The study involved 152 respondents aged 17–28 years, all classified as Generation Z residents of Bali who have never engaged in capital market transactions, selected through purposive sampling. Respondents were limited to individuals who had never conducted transactions in the capital market to avoid bias from investment experience, ensuring that the measured investment intention genuinely reflects the early stage of decision-makingThe results reveal that financial literacy exerts a positive and significant effect on investment intention (T-statistics = 3.463; P-value = 0.001), confirming its pivotal role in shaping rational financial decisions. In contrast, interest rates and inflation show positive but insignificant relationships with investment intention. These findings align with the Theory of Planned Behavior (TPB) and Behavioral Finance Theory, indicating that financial literacy, as a component of perceived behavioral control, serves as the dominant predictor of investment intention. Furthermore, gender does not moderate the relationships between independent variables and investment intention. The model’s R-square value of 0.767 suggests that the proposed framework explains 76.7% of the variance in Generation Z’s investment intention in Bali.
Pengaruh Corporate Governance dan Profitabilitas Terhadap Tax Management Pada Perusahaan Perusahaan Pertambangan Putri, Nessa Pavetria; Andayani, Sari
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.8789

Abstract

Tax management is a crucial issue in mining companies since this sector still shows a relatively low level of tax compliance. This study examines the effect of corporate governance and profitability on tax management. The sample consists of 33 mining companies listed on the Indonesia Stock Exchange during 2021-2023, resulting in 99 obeservations selected using purposive sampling. Data were analyzed using multiple linear regression with SPSS 29, including normality test, classical assumption test, t-test, F-test, and coefficient dettermination. The results indicate that corporate governance, proxied by the proportion of independent commisioners, has a positive and significant effect on tax management (t = 2.023; sig = 0.046). profitability measured by ROA also has a positive and significant effect on tax management (t = 52.508; sig = 0.000). simultaneously, both variables significantly influence tax management (F = 1,382.745; sig = 0.000) with a contribution of 96.6%. These findings highlight that better corporate governance implementation and higher profitability lead to higher levels of corporate tax compliance.
Mendorong Pertumbuhan Industri Halal: Identifikasi Faktor Strategis Melalui Analisis SWOT Tampubolon, Arsyaf; Nawawi, Zuhrinal; Ramadhan, Muhammad
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.8996

Abstract

This study aims to identify the strategic factors influencing the growth of the halal industry through a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). Using a qualitative literature review approach, relevant research articles published between 2021 and 2025 were analyzed. The findings indicate that the halal industry's main strengths lie in strong government support, its contribution to the Sustainable Development Goals (SDGs), a universal market base, and the Halal-Tayyiban concept. However, significant weaknesses persist, including the lack of harmonized global standards, limited infrastructure, and technological gaps. Opportunities are identified in digital transformation, the growing young Muslim population, and expansion into non-traditional markets, while threats include intense global competition and political-economic instability. Based on the analysis, strategic recommendations are proposed, focusing on the harmonization of global halal standards, investment in infrastructure and technology, human resource capacity building, enhanced branding, and the development of a collaborative ecosystem. These measures are expected to accelerate the growth of a sustainable and globally competitive halal industry.
Determinasi Manajemen Laba: Kajian Empiris Pada Perusahaan Real Estate Periode 2020-2024 Jessie, Jessie; Averio, Thomas
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.9000

Abstract

This study aims to examine the influence of political connections, gender diversity, financial distress, and operating cash flow on earnings management in the real estate sector. The population consists of companies listed on the Indonesia Stock Exchange from 2020 to 2024. Samples were obtained through purposive sampling, involving 39 companies over 5 years, resulting in 195 total observations. The study employs quantitative methods with panel data regression analysis, using SPSS 26 software. The results indicate that financial distress and operating cash flow have a positive influence on earnings management, while political connections and gender diversity have a negative influence. In this studs, the coefficient of determination is 52.5%.The main contribution of this study is to provide a foundation for real estate company management to strengthen internal oversight to reduce earnings management during high financial distress, through independent audits or funding diversification. Investors and creditors can utilize these findings as risk indicators, where companies with low political connections, high gender diversity, or high operating cash flow are more transparent, thereby reducing investment risk in sectors vulnerable to economic fluctuations.
Pengaruh Pajak Hotel, Restoran, Hiburan dan Retribusi Parkir Terhadap Pendapatan Asli Daerah Aprilliani, Astrid; Yasin, Muaidy; Jumaedi, M
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.9002

Abstract

This study analyzes the effect of Hotel Tax, Restaurant Tax, Entertainment Tax, and Parking Levy on Regional Original Revenue (PAD) in 10 regencies/cities in West Nusa Tenggara Province for the 2019–2023 period. The method used is panel data analysis with a Random Effects model. The results show that simultaneously, all four variables have a significant effect on PAD. However, partially, no tax variable is significant at α=0.05. Only Parking Levy has an effect at α=0.10. The research model is able to explain 51.51% of the variation in PAD, indicating that the contribution of revenue from regional taxes is still limited, while levies play a more direct role.
Analisis Profitabilitas, Likuiditas, dan Ukuran Perusahaan Sebagai Determinan Kebijakan Dividen Korporasi Suprayitno, Muhamad Rizal; Suryandani, Wulan
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.9073

Abstract

This study aims to examine the effect of profitability, liquidity, and firm size on dividend policy in food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. This research is motivated by inconsistencies in the findings of previous studies and fluctuations in the average Dividend Payout Ratio (DPR) within the food and beverage sector. A quantitative research approach was employed using multiple linear regression analysis with SPSS version 22. The research sample consisted of 25 companies selected through purposive sampling based on specific criteria to ensure the suitability of the sample with the research objectives. Dividend policy was measured using the Dividend Payout Ratio (DPR), while profitability was proxied by Return on Assets (ROA), liquidity was measured by the Current Ratio (CR), and firm size was measured using Firm Size. The results of the study indicate that profitability has a negative and insignificant effect on dividend policy, liquidity has a positive but insignificant effect on dividend policy, while firm size has a negative and significant effect on dividend policy. This study is expected to contribute to the development of dividend policy literature and provide practical insights for investors and corporate management in making investment decisions and managing corporate financial performance.
Inovasi dan Tata Kelola dalam Pengungkapan Emisi Karbon Manufaktur Indonesia Yanti, Evi; Haryanto, Hery; Suprapto, Yandi
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.9074

Abstract

Manufacturing companies contribute significantly to carbon emissions, making transparency in carbon emission disclosure an important issue in supporting environmental sustainability. However, the level of carbon emission disclosure in Indonesia still varies and is influenced by internal company factors. This study aims to analyze the effect of green innovation on carbon emission disclosure and examine the moderating role of internal governance, which consists of ownership concentration, executive political connections, and director compensation. This study is a quantitative study with a causal approach using secondary data. The research sample included 154 manufacturing companies listed on the Indonesia Stock Exchange during the 2019–2023 period with a total of 770 observations. The analysis technique used is ordinary least squares (OLS) to test the relationship between variables and moderating effects. The results show that green innovation has a significant negative effect on carbon emission disclosure. In terms of moderating variables, ownership concentration and executive political connection are not proven to moderate this relationship. Meanwhile, director compensation was found to moderate the relationship between green innovation and carbon emission disclosure in a negative direction, indicating that the director compensation system actually weakens the transparency of carbon emission disclosure. The novelty of this study lies in the simultaneous testing of internal governance mechanisms as moderating variables in the relationship between green innovation and carbon emission disclosure in the context of manufacturing companies in Indonesia. This study contributes theoretically to the literature on environmental accounting and corporate governance, as well as providing practical implications for management and regulators in formulating sustainability and environmental transparency policies.
Pengaruh Pengumuman Unusual Marker Activity Terhadap Abnormal Return dan Trading Volume Activity Tarigan, Agnes Monika; Trimeiningrum, Eny
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 3 (2026): February 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i3.9092

Abstract

This study aims to analyze the response of the Indonesian capital market to the announcement of Unusual Market Activity (UMA) issued by the Indonesia Stock Exchange (IDX) by examining abnormal return and trading volume activity (TVA) of listed stocks during the 2023–2024 period. The research employs a quantitative approach using an event study methodology, with an observation window of 11 days consisting of five days before the announcement, one day on the announcement date, and five days after the UMA announcement. The research sample was determined using purposive sampling, resulting in 168 UMA announcement events that met the research criteria. Data were analyzed using normality tests, followed by the Wilcoxon Signed Rank Test due to non-normal data distribution. The findings reveal a significant difference in abnormal return before and after the UMA announcement in both 2023 and 2024, indicating that UMA announcements contain information that is responded to by the market through stock price adjustments. However, the analysis of trading volume activity shows no significant difference before and after the UMA announcement in both periods. These results provide empirical evidence that UMA announcements exert an asymmetric impact on market reactions and support the notion that the Indonesian capital market exhibits characteristics consistent with semi-strong form market efficiency

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