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INDONESIA
International Journal of Business, Economics, and Social Development
ISSN : 27221164     EISSN : 27221156     DOI : https://doi.org/10.46336/ijbesd
International Journal of Business, Economics and Social Development (IJBESD) is published 4 (four) times a year and is the flagship journal of the Research Collaboration Community (RCC). It is the aim of IJBESD to present papers which cover the theory, practice, history or methodology of Business, Economics and Social Development. However, since Business, Economics and Social Development are primarily an applied science, it is a major objective of the journal to attract and publish accounts of good, practical case studies. Consequently, papers illustrating applications of Business, Economics and Social Development to real problems are especially welcome. GENERAL BUSINESS AND MANAGEMENT e-Business International Business Business Strategy Marketing Supply Chain Management Organization Studies Entrepreneurship and Business Development Enterprise Innovation Human Resource Management Business Ethics Business Economics Business Communication Business Finance International Business and Marketing Organizational Development and Challenges Leadership and Corporate Governance Tourism Operations Management Human Resources Economics Regional Economics Industrial Economics Financial Economics Labor Economics Law and Economics Regulatory Economics Economic Growth and Development Policy Technological Change, Innovation Research and Development Economic Systems GENERAL ECONOMICS Economic Methodology Schools of Economics Production and Organizations Market Structure and Pricing Welfare Economics Public Finance & Public Choice Prices, Business Fluctuations Economic Policy International Finance International Economics Institutional & Corporate Finance Accounting Insurance and Risk Management Monetary Banking Marketing Management Issues Innovation and Change Management Banking and Finance Natural Resource Economics Microeconomics Economics in Development and Sustainability Issues Comparative Economic Systems Stock Exchange Business Economics Capital Market Macroeconomics Economics Theory and Policy Issues Energy Economics and Policy Monetary Economics Public Economics Other areas of Economics COMMUNITY DEVELOPMENT Social Work Health and Sport Sciences Human Development Quality of Life Psychology Communication Public Administration Leadership Style Sociology Anthropology Religious Studies Civilizations Social Innovation Other areas of Social Studies and Art & Humanities Political Science Public Policy Political Psychology Protection of Children and Women Political Party System Education Social Sciences Education Science Education Pre-School Education Measurement and Evaluation Talent Development Education Management Education technology Street Children Education Ethnoscience and many more
Articles 384 Documents
The Influence of Ease of Use, Security, and Benefits of QRIS Usage on the Development of the Digital Economy Reva Puspamidya; Rina Destiana
International Journal of Business, Economics, and Social Development Vol. 7 No. 3 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i3.1343

Abstract

This study aims to analyze the influence of ease of use, security, and perceived usefulness of QRIS on the development of the digital economy among Generation Z in Cirebon City. Using the Technology Acceptance Model (TAM) framework, data were collected from 300 respondents through an online questionnaire and analyzed using multiple linear regression. The results indicate that, both partially and simultaneously, the variables of ease of use, security, and perceived usefulness have a positive and significant effect on digital economic development. These three factors contribute 56.2% to enhancing the efficiency of cashless transactions and strengthening the digital ecosystem. The findings highlight the importance of optimizing digital payment technology features to accelerate digital economic transformation.
Optimal Portfolio Weight Construction Based on Arbitrage Pricing Theory (APT) and Genetic Algorithm (GA) for LQ45 Stocks in the Basic Materials Sector in 2025 Timothy Hendrawan; Nurul Gusriani; Riaman
International Journal of Business, Economics, and Social Development Vol. 7 No. 3 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i3.1168

Abstract

The limitations of traditional portfolio models in capturing multi-factor risks in the Indonesian capital market underlie the need for a framework that integrates a realistic return estimation model with a reliable optimization technique. Traditional portfolios do not utilize multi-factor risk and assume that market conditions depend only on a single factor; therefore, a method combining other factors, such as macroeconomic factors, is required. The research method used is the Arbitrage Pricing Theory (APT) to estimate expected stock returns based on three macroeconomic factors (CPI, Rupiah exchange rate against USD, and M2 Money Supply) and the Genetic Algorithm (GA) to determine optimal stock weights, where the resulting portfolio is then evaluated using the Sharpe Ratio to find the best portfolio composition with the highest Sharpe Ratio. The data used in this study are LQ45 stocks of the basic-materials sector in 2025. The research results show that there are four stocks selected in the formation of the optimal portfolio: ANTM, BRPT, INCO, and MDKA. Based on optimization using the Genetic Algorithm, the obtained fund allocation weight composition is 34.82% for ANTM, 16.92% for BRPT, 23.57% for INCO, and 24.69% for MDKA. The formed optimal portfolio yields a Sharpe Ratio of 0.6582, which indicates that although the portfolio generates a positive return.
Digital Academy Training and Work Synergy Among Fresh Graduate Hires at Bank Mandiri Cirebon: A Second-Order SEM Approach Shifa Defina Putri; Anna Suzana
International Journal of Business, Economics, and Social Development Vol. 7 No. 4 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i4.1305

Abstract

The research goals to analyze the affect of My Digital Academy (MDA) Training Program as an early hiring strategy for fresh graduates on employee work synergy at Bank Mandiri in Cirebon City using a second order model approach with Integrated Organizational construct comprising three dimensions: MDA Training Program, Work Readiness, and Organizational Socialization. The research employs a quantitative approach utilizing a survey method with 107 Bank Mandiri employees in Cirebon who participated in the MDA program. Data analysis utilizes two-stage Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0 to test the formative second order model. This outcomes demonstrate that Integrated Organizational has a significant positive affect on Work Synergy (β = 0.609, p < 0.05) with a large affect size (f² = 0.589). Organizational Socialization contributes the most (outer weight = 0.640), followed by Work Readiness (0.500) and MDA Training Program (0.473). The model exhibits moderate explanatory power (R² = 0.384) and good predictive relevance (Q² = 0.347). The study contributes to HRM literature by integrating three organizational dimensions into a single formative second order construct to predict work synergy. The two-stage PLS-SEM approach enables identification of unique contributions of each dimension in forming organizational integration, which has been underexplored in the context of early hiring programs in Indonesia's banking industry. HR managers should prioritize organizational socialization programs in fresh graduate onboarding, integrating them with technical training and work readiness development. Bank Mandiri is advised to develop structured mentoring programs and buddy system mechanisms that support cultural adaptation of new employees, and design MDA training that focuses not only on technical competencies but also facilitates understanding of organizational values and culture.
Integrating Formula 3B (Learn, Practice, Compete) with the Application GO Expert as a Blended Learning Model: A Conceptualization in the Tutoring Context Bob Foster
International Journal of Business, Economics, and Social Development Vol. 7 No. 4 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i4.1413

Abstract

The digital transformation of education has driven tutoring institutions to shift from conventional face-to-face instruction toward an integrated learning approach leveraging technology. One such approach is Formula 3B, a learning model developed by the author and implemented at Ganesha Operation (GO), the leading and largest tutoring institution in Indonesia (MURI, 2022a, 2022b). Formula 3B comprises three stages: belajar (learn), berlatih (practice), bertanding (compete). This study examines the model and analyzes how its three stages are operationalized through the company’s digital platform GO Expert. Although it has been widely applied across Ganesha Operation throughout Indonesia, Formula 3B has not yet been formally conceptualized as a theoretical framework within the context of a blended learning ecosystem. This condition reveals a conceptual gap between Formula 3B as a pedagogical catchphrase and other well-established learning theories. The study adopts a qualitative approach through an integrative literature review strategy positioned as the initial conceptual phase of an exploratory sequential mixed-methods design. The analysis proceeds through four stages: (1) concept review and reduction, (2) thematic codification, (3) cross-mapping using a thematic matrix and the constant comparison technique, and (4) theoretical synthesis. The process integrates institutional documents, digital-platform content, and theoretical literature. The trustworthiness of the findings is ensured through four criteria, namely credibility, transferability, dependability, and confirmability, reinforced by source triangulation and the construction of an audit trail. The analysis of Formula 3B yields a coherent theoretical structure: the learning stage aligns with meaningful learning, mastery learning, and cognitive-load efficiency; the practicing stage with reinforcement, distributed practice, and goal setting; and the competing stage with achievement motivation, gamification, and an Item Response Theory (IRT)-based formative assessment. Within the Technology Acceptance Model framework, GO Expert serves as an integrative medium that unites face-to-face instruction, triannual motivational program known as Meeting on Maximizing Motivation (M3), and data-driven feedback into a single measurable, autonomous, and personalised blended-learning cycle. The study produces a conceptual framework, the Formula 3B Blended Digital Learning Framework, accompanied by six empirically testable propositions. The framework positions the Formula 3B as a systematic and replicable blended-learning model and provides a foundation for subsequent empirical research.