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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 17 Documents
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Search results for , issue "Vol 7 No 4 (2026): May 2026" : 17 Documents clear
Implementasi Carbon Tax sebagai Strategi dalam Menekan Emisi Karbon: Dampaknya Bagi Corporate Sustainbility di Indonesia Sari, Erma Wulan
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.7823

Abstract

Carbon emissions are one of the causes of climate change in the world. Carbon emissions have a negative impact on the environment, health and economy. Intervention from the government is needed in order to reduce carbon emissions in Indonesia. The purpose of this study is to determine the effectiveness of carbon tax implementation in reducing carbon emissions and its impact on the industrial world. The method used in this research is to use a qualitative descriptive method. The results of the research show that the implementation of carbon taxes in Indonesia will raise pros and cons for the community. Implementation of a carbon tax will have an impact on reducing carbon emissions which have a negative impact on the environment. With the imposition of a carbon tax, the industry will reduce fuel consumption so that carbon emissions can be reduced. In addition, with the implementation of a carbon tax, government revenue from the tax sector will also increase so that it can be used by the government to finance sustainable programs that can help mitigate climate change.
Pengaruh Variabel Sosio-Ekonomi, Infrastruktur, Teknologi dan Kelembagaan Terhadap Pertumbuhan Ekonomi di Kawasan Ekonomi Khusus (KEK) Larassati, Fanni; Suseno, Deky Aji
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9175

Abstract

Special Economic Zones (SEZs) were established to accelerate regional economic growth, which in the long term will not only impact the economy but also the welfare of the community. However, the welfare of people in provinces without SEZs is actually higher when compared to provinces with SEZs. In the establishment of SEZs, there is an exclusivity of growth that is only concentrated in SEZs alone, thus unable to increase the local society's GRDP per capita. This study aims to analyze the influence of social, economic, infrastructure, technological, and institutional variables on GRDP per capita. This research method uses a quantitative approach in 15 provinces with SEZs in Indonesia during the period 2016-2023. This research data is secondary data obtained from the Central Statistics Agency (BPS), Bank Indonesia (BI), and the Investment Coordinating Board (BKPM). The theories employed are Endogenous Growth Theory, New Institutional Economics, and Modernization Theory. The data were analyzed using the SEM-PLS (Structural Equation Modeling-Partial Least Squares) method with WarpPLS 8.0. The result of the study indicate that Domestic Investment and ICT Development Index have a positive effect on the Democracy Index. Conversely, Foreign Investment (FDI) and Road Length have a negative effect on the Democracy Index, while Average Years of Schooling and Workforces have no effect on the Democracy Index. On the other hand, Average Years of Schooling and Domestic Investment have a positive effect on GRDP per Capita. However, Workforces and FDI have a negative effect on GRDP per Capita, while the Democracy Index shows no effect on GRDP per Capita.
Operating Expenses Ratio (OER) and Total Asset Turnover (TATO) to Return on Assets (ROA) Putri, Reyningrum Camilda; Pardistya, Irvan Yoga; Liana, Siska
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9360

Abstract

This quantitative study investigates the "profitless growth" phenomenon to empirically examine the financial determinants of profitability within the food and beverage manufacturing subsector. Specifically, the research analyzes the extent to which the Operating Expense Ratio (OER) and Total Asset Turnover (TATO) impact Return on Assets (ROA). The study relies on secondary data derived from 13 companies listed on the Indonesia Stock Exchange (IDX), covering an observation period from 2014 to 2024. Data processing was executed using IBM SPSS Statistics software through a multiple linear regression model. The empirical results reveal that OER exerts a significant positive influence on ROA (Sig < 0.001), indicating that operational expenditures in this sector function as productive investments rather than mere costs. Similarly, TATO demonstrates a significant positive impact (Sig = 0.049), confirming that efficient asset utilization is crucial for maximizing earnings. Furthermore, the simultaneous analysis confirms that these independent variables collectively affect profitability, accounting for 62.5% of the variance in ROA ( = 0.625). These findings highlight the critical importance of synergizing strategic operational spending with aggressive asset rotation to sustain corporate profitability amidst economic volatility.
Ekonomi Islam: Jumlah Tenaga Kerja, Disparitas PAD Dan Jumlah Industri Besar Terhadap Aglomerasi Industri Samudra, M Andi; Putri, Rosydalina; Setyanto, Alief Rakhman
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9524

Abstract

This research is motivated by the imbalance in industrial concentration in the Southern Sumatra (Sumbagsel) region which has the potential to hinder the realization of equitable economic development. The main problem studied is the influence of the number of workers, disparity in Regional Original Income (PAD), and the number of large industries on industrial agglomeration from an Islamic economic perspective. This study aims to analyze the relationship between these variables and formulate the implications of equitable and sustainable industrial development policies. The study uses an associative quantitative approach with panel data regression analysis techniques in five provinces in the Sumbagsel region during the period 2015–2024. Model selection was carried out through the Chow, Hausman, and Lagrange Multiplier tests, with the results showing that the Random Effect Model (REM) is the most appropriate model. The results show that simultaneously all independent variables have a significant effect on industrial agglomeration, with an F-statistic value of 21.54681 and a probability of 0.0000 (<0.05). However, partially, it was found that the number of workers had a negative and significant effect on industrial agglomeration (coefficient -0.011283; p < 0.05), indicating a mismatch in skills and a mismatch in the quality of the workforce with industrial needs. Meanwhile, the disparity in local revenue (coefficient 0.010390; p > 0.05) and the number of large industries (coefficient 0.000618; p > 0.05) did not show a significant effect. This finding confirms that the quality of the workforce is a more crucial determinant than quantity in encouraging the formation of efficient, inclusive, and sustainable industrial agglomeration.
Efektivitas Implementasi Aplikasi Sakti Dalam mendukung Digitalisasi Penyusunan Laporan Keuangan Fatharani, Fatharani; Fachruzaman, Fachruzaman
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9544

Abstract

Digital transformation in public financial governance is an essential part of bureaucratic reform aimed at enhancing transparency and accountability. This study aims to analyze the effectiveness of the implementation of the SAKTI application in supporting the digitalization of financial statement preparation at the Regional Office of the National Land Agency (BPN) of Bengkulu Province. The research employs a qualitative approach with a descriptive design. Data were collected through in-depth interviews with eleven informants, including operators, validators, and approvers, and were strengthened by documentation and triangulation techniques to ensure data validity. The results indicate that the implementation of SAKTI is effective in improving the efficiency of reporting processes and the accuracy of financial records through automatic validation that minimizes input errors. Systemically, the application integrates all stages of financial management, from planning to accountability, within a single system equipped with a strong audit trail. Employees perceive this digitalization as a shift toward greater personal responsibility and increased compliance with procedures. Although technical issues such as network disruptions and centralized system maintenance were encountered, these were temporary and did not significantly hinder the reporting process. Overall, SAKTI has successfully strengthened the principles of good governance in technical government institutions.
Analysis of Factors Affecting Investment Decision-Making in the Indonesian Capital Market Silaban, Barnabas Tridig; Rusmardiana, Ana; Yusup, Aldian; Adriana, Nana; Yustus, Gratia Tehilla
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9565

Abstract

The Indonesian capital market has experienced significant investor growth, particularly among retail investors and younger generations. However, this increase in participation has not been fully accompanied by rational and high-quality investment decision-making. This study aims to analyze the factors influencing investment decision-making in the Indonesian capital market, with a particular focus on behavioral factors, financial literacy, and risk perception. The study employs a qualitative approach using a systematic literature review method, examining a curated sample of recent and relevant scholarly articles, academic books, and official institutional reports related to investment behavior and decision-making. The data were analyzed using descriptive qualitative analysis and content analysis to identify patterns and relationships among variables. The findings indicate that financial literacy is the most dominant factor in improving the quality of investment decisions, while overconfidence, herding behavior, and risk perception also significantly influence investor behavior. The interaction among these factors creates a complex pattern of investment decision-making. The novelty of this study lies in the development of an integrated analytical framework that simultaneously combines behavioral biases, financial literacy, and risk perception within a single model, particularly in the context of an emerging market such as Indonesia. This study contributes to the literature in three main ways. First, it provides a comprehensive synthesis of prior studies by integrating behavioral and cognitive perspectives into a unified framework. Second, it highlights the mediating role of risk perception and the moderating role of financial literacy in shaping investment decisions. Third, it offers contextual insights specific to the Indonesian capital market, where retail investor dominance and digital influence create unique behavioral dynamics. This study contributes theoretically by extending behavioral finance literature through a multidimensional perspective, and practically by providing insights for investors, regulators, and financial institutions to improve decision quality through a more holistic approach.
Pengaruh Tenaga Kerja, IPM, dan IPTIK Terhadap Ketimpangan Pendapatan di Indonesia Perspektif Ekonomi Islam Mayasari, Ratih; Nurlaili, Nurlaili; Zulaikah, Zulaikah
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9599

Abstract

Income inequality is still an important problem in Indonesia's economic development even though development continues to progress. This study aims to analyze the influence of labor, the Human Development Index (HDI), and the Information and Communication Technology Development Index (IP-ICT) on income inequality in Indonesia for the period 2018–2023 from an Islamic economic perspective. The data used is panel data from 34 provinces sourced from the Central Statistics Agency (BPS) and analyzed using a quantitative approach with the panel data regression method through EViews software. Based on the results of the t-test in this study, it is shown that partially labor has a positive and significant effect on income inequality with a probability value of 0.0140 (< 0.05). Meanwhile, the HDI variable had no significant effect on income inequality with a probability value of 0.7060 (> 0.05). The IP-ICT variable has a negative and significant effect on income inequality with a coefficient value of -0.008716 and a probability of 0.0019 (< 0.05). Simultaneously, labor, HDI, and IP-ICT have a significant effect on income inequality with an F-statistic value of 97.78723 and a probability of 0.000000 (< 0.05). From an Islamic economic perspective, income inequality is contrary to the principles of justice ('adl) and the equitable distribution of wealth as reflected in maqāṣid al-syarī'ah, so development policies need to be directed at improving the quality of labor, equitable distribution of education, and inclusive technology development to realize a fair and sustainable distribution of income.
Investment Model Design Based on Financial Behavior to Achieve Financial Independence in Gen-Z Suryadana, Rahmat; Halpiah, Halpiah; Putra, Hery Astika
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9613

Abstract

The financial crisis is prone to affect Gen-Z due to a consumptive lifestyle, which is both a problem and the background for conducting this research with the aim of designing financial behavior models and investment choice models that can be used to achieve the level of financial independence in the future. The study uses qualitative methodology with a design thinking approach; data collection was conducted through interviews, analyzed using triangulation techniques, with data being reduced, presented, and conclusions drawn. The validity was tested using member checking with eight informants who are working students, aged 20-25 years, with income ranging from Rp.1,000,000 to Rp.3,000,000 per month. The research findings indicate that 7 out of 8 informants tend to be consumptive, are cautious in making investment decisions, but have a target of achieving financial independence in the future. The results of this study are expected to provide a contribution as a basis for decision-making regarding changes in financial behavior patterns from consumptive to productive by allocating funds wisely to investment options that increase assets, in order to achieve the targeted financial independence in the future.
Perbandingan Performa dan Volatilitas JII dan IHSG Periode 2020-2025 di Indonesia Riswanti, Riswanti; Rohmi, Misfi Laili; Apridasari, Esty; Ismail, Vera
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9614

Abstract

The Indonesian capital market experienced significant pressure, particularly during the early period of the COVID-19 pandemic, followed by a recovery phase amid persistently high global economic uncertainty. These conditions affected the performance and volatility of stock indices, both conventional and Sharia-based indices. This study aims to analyze and compare the performance and volatility of the Composite Stock Price Index (IHSG) and the Jakarta Islamic Index (JII) during the 2020–2025 period in Indonesia. The novelty of this research lies in the integration of performance and volatility analysis within a single comparative framework, as well as its focus on both crisis and economic recovery phases simultaneously, which remains limited in previous empirical studies. This study employs a quantitative approach with a descriptive-comparative method using secondary data in the form of monthly closing prices of IHSG and JII. Index performance is measured using average monthly returns, while volatility is analyzed through variance and standard deviation. The results show that IHSG has an average monthly return of 0.005134, while JII records −0.001511. These findings indicate that IHSG demonstrates better performance compared to JII, as it yields a positive return, whereas JII shows a negative return during the study period. In terms of risk, JII exhibits a higher level of volatility compared to IHSG. These findings suggest that Sharia stock indices do not always have lower risk than conventional indices, particularly under conditions of economic uncertainty, and highlight the importance of considering index structure in investment decision-making. The implications of this study are that investors, both conventional and Sharia, need to conduct more in-depth analyses of the risk and return characteristics of each index before making investment decisions. Furthermore, this research contributes to regulators and index providers in evaluating the stability and competitiveness of Sharia indices within the dynamics of the global capital market.
Faktor-Faktor Yang Mempengaruhi Kecenderungan Fraud Akuntansi di Pemerintahan Desa Anwar, Muhammad Syaiful; Trisnaningsih, Sri
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 7 No 4 (2026): May 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v7i4.9683

Abstract

Accounting fraud is a serious problem that has occurred in both the business and public sectors from the past to the present. Accounting fraud is closely related to fraudulent practices. Since 2015, the central governmnet has allocated funds intended for villages and distributed them to all villages as an effort to improve community welfare and reduce poverty levels. However, in its implementation, there are still varios cases of misappropriation of village funds committed by village officials. Based on this condition, this study aims to examine and determine whether there is an effect of internal control effectivennes, organizational ethical culture, and individual morality on the tendency of accounting fraud. This study uses a quantitative approach with a sampling technique in the form of a census or total sampling method. Primary data were used in this study, obtained through the distribution of online questionnaires. The number of respondents in this study was 48 people, consisting of village heads, village secretaries, and heads of financial affairs of village governments in Wringinanom District, Gresik Regency. The data analysis technique used was multiple linear regression analysis. The partial result show that the internal control effectivennes variable has a significance value of 0,000 < 0,05 and a regression coefficient of -0,517, the organizational ethical culture variable has a significance value of 0,000 < 0,05 and a regression coefficient of -0,634, and the individual morality variable has a significance value of 0,000 < 0,05 and a regression coefficient of -0,770, this means that all independent variables in this study have a negative effect on the tendency of accounting fraud. Simultaneously, the significance value obtained is 0,000 < 0,05, indicating that internal control effectiveness, organizational ethical culture, and individual morality simultaneously have an effect on the endency of accounting fraud.

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