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Contact Name
Dedi Junaedi
Contact Email
dedijunaedi@mes-bogor.com
Phone
+628118114379
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dedijunaedi@mes-bogor.com
Editorial Address
MASYARAKAT EKONOMI SYARIAH BOGOR Institut Agama Islam (IAI) Nasional Laa Roiba Bogor Jl Raya Pemda Pajeleran Sukahati No 41 Cibinong, Bogor 16913 Telp 021-8757150
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INDONESIA
Economic Reviews Journal
ISSN : -     EISSN : 28306449     DOI : https://doi.org/10.47467/mrj
Economic Reviews Journal  is a scientific journal published by Masyarakat Ekonomi Syariah Bogor in collaboration with Ikatan Ahli Ekonomi Islam, Institut Agama Islam Nasional Laa Roiba Bogor, and Intellectual Association for Islamic Studies (IAFORIS) . This journal contains scientific papers from academics, researchers and practitioners in the fields of Islamic economics, management, finance, accounting, zakat, waqaf, shadaqah, industries, and business research. E-ISSN 2830-6449
Articles 653 Documents
Optimalisasi Content Marketing Melalui Video Interaktif Pada Platform E-commerce Untuk Meningkatkan Brand Activation Produk pada PT Lima Benua Koneksindo Leyla Garida Naribrata; Sugito Sugito
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1181

Abstract

The intense competition in the e-commerce industry drives repeated exposure to homogeneous marketing content, triggering content fatigue and reducing consumer engagement. This study aims to analyze the optimization of content marketing through interactive video in increasing product brand activation at PT Lima Benua Koneksindo on e-commerce platforms. The research method applied is a causal quantitative approach. Sampling utilized a census technique (saturated sampling) by involving all internal employees of PT Lima Benua Koneksindo, totaling 20 respondents as expert practitioners who understand the company's business operations. Primary data were collected through structured questionnaires based on Google Forms, while data analysis used Simple Linear Regression techniques assisted by statistical software. The results showed that content marketing through interactive video has a positive and significant effect on product brand activation (t-count= 5.642; Sig. = 0.000 < 0.05). The Coefficient of Determination (R2) value of 0.639 indicates that interactive video can explain 63.9% of the variation in brand activation improvement. Interactivity elements such as shoppable tags, quizzes, and virtual feature simulations are proven effective in transforming passive viewers into active participants, extending page visit duration (dwell time), and bringing brand values to life in real-time. This study suggests management optimize investment in interactive visual production tools to maintain competitiveness in the digital market.
Strategi Live Tiktok dalam Mengatasi Fluktuasi Penonton Melalui Optimalisasi Interaksi Menit Awal Naura Natasya Putri; Nuruni Ika Kusuma Wardhani
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1182

Abstract

The live streaming feature has become a crucial instrument in digital marketing communication for local products, but live host teams frequently face extreme fluctuations in concurrent viewer counts. This community service program aims to analyze the underlying factors causing viewer disparities and formulate tactical streaming strategies for the Papagrey business unit at CV. Avero Indonesia. The implementation method utilized a practical mentoring and action research approach, analyzing and comparing metric logs from two TikTok LIVE sessions lasting ±1.5 hours extracted from the official partner account's Live Center. The evaluation results indicated that Session A (standard cat content) experienced poor performance, capturing only 488 cumulative viewers due to monotonous materials (introducing cat breeds, daily feeding formulas, basic Q&A care sessions, and general introductions to Glowking supplements) compounded by strict non-yellow basket transaction regulations. Conversely, Session B (live direct-action education) triggered a massive algorithmic distribution boost, peaking at over 6,000 concurrent viewers by optimizing immediate high-intensity visual attractiveness (visual hook) through live broadcasts of direct physical handling, including cat grooming, cat mating processes, or real-time cat birthing events during the critical Golden Minutes phase. The practical implication of this program requires host operational re-engineering to actively incorporate high-engagement animal displays to maintain consistent audience retention.
Pengaruh Kompetensi Pegawai, Disiplin Kerja, dan sarana Prasarana Terhadap Efektivitas Pelayanan Publik di Balai Desa Jubang Kecamatan Bulakamba Kabupaten Brebes Yuyun L Sinaga; Nur Khojin; Muhammad Syaifulloh
Economic Reviews Journal Vol. 5 No. 2 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i2.1183

Abstract

This study aims to determine and analyze the influence of Employee Competence, Work Discipline, and Facilities and Infrastructure on the Effectiveness of Public Services at the Jubang Village Hall, Bulakamba District, Brebes Regency. The type of research applied is associative research (explanatory research) with a quantitative approach. The population in this study is the people of Jubang Village who are in the age range of 20 to 49 years with a total of 2,889 people. Based on calculations using the Slovin formula with a 5% leniency level, the official research sample size was 352 respondents determined through a simple random sampling technique. Primary data collection was carried out directly by distributing questionnaire instruments that had been tested for validity and reliability. The data analysis method used to test the hypothesis was Multiple Linear Regression Analysis with the help of SPSS software. The results of partial testing (t-test) showed that Employee Competence had a positive and significant effect on the Effectiveness of Public Services with a calculated t-value of 11.612 and a significance of 0.000 <0.05. The Work Discipline variable was also proven to have a positive and significant influence on Public Service Effectiveness with a calculated t-value of 8.745 and a significance level of 0.000 <0.05. Furthermore, Infrastructure had a positive and significant influence on Public Service Effectiveness with a calculated t-value of 16.773 and a significance level of 0.000 <0.05. Simultaneously (F-test), the three independent variables together had a significant influence on Public Service Effectiveness with a calculated F-value of 181.409 and a significance level of 0.000. The results of this study also confirm that Infrastructure is the variable that provides the most dominant contribution to Public Service Effectiveness at Jubang Village Hall, achieving the highest Standardized Beta Coefficients value of 0.564.
Penerapan Material Flow Cost Accounting (MFCA) untuk Mengidentifikasi Hidden Cost dan Meningkatkan Efisiensi Pengelolaan Limbah Perishable melalui Pendekatan Circular Economy pada Sektor Ritel Modern Nana Nurwana; Juniati Gunawan
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1184

Abstract

Material Flow Cost Accounting (MFCA) has been widely applied in manufacturing industries; however, its implementation in the modern retail sector, particularly for managing perishable food waste, remains limited. This study aims to analyze the application of MFCA in identifying hidden waste costs and evaluating the potential recovery of economic and environmental value from fruit and vegetable waste at PT LS, a modern retail company. A descriptive qualitative case study supported by quantitative analysis was employed using observation, interviews, and documentation of damaged goods reports, inventory records, purchasing data, sales reports, operational costs, and waste management costs. MFCA was utilized to map material flows, distinguish positive and negative products, quantify material loss, and evaluate material efficiency and economic recovery through composting activities. The findings reveal that 206 kg of organic waste with an economic value of IDR 4,279,558 was processed into 72.3 kg of compost, resulting in a material efficiency of 35.1%, material loss of approximately 65%, and an economic recovery value of IDR 361,500 (8.45%). Although the direct financial return remains relatively low, MFCA successfully exposed previously unidentified hidden costs associated with perishable waste, improved transparency in material flow information, and demonstrated that organic waste can be transformed into value-added products supporting circular economy practices. This study extends the application of MFCA beyond the manufacturing sector by providing empirical evidence that the method can enhance resource efficiency, environmental performance, and sustainable waste management in the modern retail industry.
Deskripsi Employee Engagement, Job Satisfaction, dan Turnover Intention Karyawan di Sadara Resort Ni Wayan Manik Kristya Dewi; I Gusti Lanang Suta Artatanaya; Cokorda Istri Sri Widhari
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1186

Abstract

The hospitality industry is a service sector that strongly depends on the quality of human resources in delivering customer services. High work demands in this industry require companies to pay attention to employee conditions, particularly employee engagement, job satisfaction, and turnover intention. Sadara Resort, as a hospitality company, needs to understand these aspects to develop appropriate human resource management strategies. This study aimed to describe the levels of employee engagement, job satisfaction, and turnover intention among employees at Sadara Resort. A quantitative approach with a descriptive research design was employed. The study involved 51 employees selected as respondents. Data were analyzed using descriptive statistical methods. The findings revealed that employee engagement achieved a mean score of 3.61 and was categorized as good. Job satisfaction obtained a mean score of 3.61, also categorized as good. Meanwhile, turnover intention recorded a mean score of 2.94 categorized as moderately good, indicating that employees still show a tendency to leave the organization due to work-related and personal factors. The results are expected to provide useful insights for Sadara Resort management in improving employee engagement and job satisfaction while minimizing turnover intention.
Pengaruh Likuiditas, Solvabilitas, dan Profitabilitas Terhadap Nilai Perusahaan dengan Kebijakan Dividen Sebagai Variabel Moderating pada Perusahaan Makanan dan Minuman yang Terdaftar di Indeks Saham Syariah Indonesia Agung Wiyono
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1190

Abstract

This study aims to examine the effects of liquidity, solvency, and profitability on firm value, with dividend policy serving as a moderating variable, in food and beverage companies listed on the Indonesia Sharia Stock Index (ISSI) during the 2020–2024 period. A quantitative approach was employed using the Moderated Regression Analysis (MRA) method. The sample consisted of 24 companies selected through purposive sampling. The findings reveal that liquidity and solvency have no significant effect on firm value, whereas profitability has a positive and significant effect. Furthermore, dividend policy does not moderate the relationship between liquidity, solvency, or profitability and firm value. These results indicate that profitability is the primary factor influencing investors' assessment of firm value in sharia-compliant food and beverage companies, while liquidity, solvency, and dividend policy do not significantly contribute to enhancing firm value. The findings imply that companies should prioritize improving profitability as a strategy to increase firm value in the Islamic capital market.
Perbandingan Struktur dan Kinerja Pasar Modal Serta Pasar Uang Indonesia dan Arab Saudi: Analisis Deskriptif-Komparatif Try Maya Andira; Maryam Batubara
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1191

Abstract

This study aims to compare the structure and performance of capital markets and money markets in Indonesia and Saudi Arabia as two countries with large Muslim populations and rapidly developing Islamic finance industries, yet with differing economic structural characteristics. The research employs a descriptive-comparative approach using secondary data sourced from the Indonesia Stock Exchange (IDX), Saudi Exchange (Tadawul), Bank Indonesia (BI), the Saudi Central Bank (SAMA), the Financial Services Authority (OJK), and official institutional publications for the 2024-2026 period. The analysis covers four main dimensions: market capitalization and number of listed issuers, money market instrument structure and monetary policy, Islamic financial instrument development, and the conformity of both markets with Maqashid Syariah principles. The findings indicate that Tadawul possesses a significantly larger capital market capitalization than IDX, driven by the dominance of the energy sector and a single mega-issuer (Saudi Aramco), while IDX demonstrates faster retail investor base growth and broader sectoral diversification. On the money market side, both countries rely on interest-based monetary operation instruments (BI-Rate/SRBI in Indonesia, SAMA's repo rate in Saudi Arabia), which conceptually still require further development of more comprehensive sharia-compliant instruments. Indonesia is recorded as one of the largest global sukuk issuers after Saudi Arabia and Malaysia, indicating potential synergy and benchmarking opportunities between the two countries. This study recommends strengthening bilateral cooperation in developing Islamic money market instruments and harmonizing sharia governance standards across capital markets.
Analisis Komparatif Krisis Likuiditas Sektoral pada Palestine Exchange (PEX) dan Bursa Efek Indonesia (BEI) Hasbih Soleh Suryadi; Maryam Batubara
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1192

Abstract

This study aims to comparatively analyze the impact of monetary structures and Islamic financial architecture on the stability of banking sectors listed on capital markets, using the Palestine Exchange (PEX) and the Indonesia Stock Exchange (IDX) as case studies. Employing a political-economy approach and structural analysis, the study examines how the absence of monetary sovereignty triggered the anomaly known as "The Shekel Surplus Crisis" in Palestine, contrasting it with the single, Rupiah-based monetary transmission mechanism in Indonesia. Furthermore, the study explores how Islamic financial instruments on both exchanges responded to these liquidity challenges. The analysis reveals that both conventional and Islamic banking issuers on the PEX face extreme operational risks due to the accumulation of unproductive physical capital (Shekels)—which cannot be digitized owing to repatriation quota restrictions imposed by the Central Bank of Israel—coupled with a lack of liquidity management instruments for Islamic finance in Palestine. Conversely, mandatory Rupiah regulations and the availability of Islamic money market instruments (PUAS) on the IDX—fully supported by Bank Indonesia—have proven effective in creating a stable liquidity buffer. The study concludes that capital market performance and the resilience of the Islamic finance industry are not determined solely by Shariah compliance or infrastructure modernization but are intrinsically linked to a nation's monetary sovereignty. (UNCTAD, 1994; IMF, 2022; Bank Indonesia, 2008; Bank Indonesia, 2024).
Nikel Indonesia dan Fosfat Yordania: Analisis Sinergi Strategis dan Komparasi Dampak Sektoral Terhadap Ekonomi, Lingkungan, Serta Pasar Modal Syariah dan Uang Mutiara Kesuma; Maryam Batubara
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1193

Abstract

This study analyzes the strategic synergy between Indonesian nickel and Jordanian phosphate commodities and compares the impact of both countries’ mining sectors on the economy, the environment, and the Islamic capital market. Using a qualitative approach with a multi-site comparative case study design, the study finds that Indonesia’s nickel downstreaming policy has driven substantial economic growth, with the mining sector contributing 12% of GDP in 2024 and processed nickel exports reaching USD9.73 billion in 2025. However, the policy faces serious criticism because of oversupply that has pushed nickel prices down by nearly 40%, from US$38,000 to US$15,000 per ton, extreme dependence on the Chinese market which absorbs 94% of downstream exports, and foreign dominance over roughly 75% of domestic nickel-refining capacity. The environmental impact is also severe, reflected in 5,501 hectares of deforestation, smelter CO2 emissions of 58.6 tons per ton of nickel, five times higher than Australia’s, and a surge in acute respiratory illness cases reaching 55,527. By contrast, Jordan’s phosphate industry, which contributes 25% of national manufacturing output, shows a more planned “green transformation” approach, although it still faces water-scarcity challenges. From a capital-market perspective, both commodities have been integrated into the Islamic financial ecosystem through sharia-indexed stocks and corporate sukuk, with Indonesia showing greater depth and diversity of instruments. The study’s main recommendation is to strengthen bilateral cooperation through existing joint ventures, apply Islamic-finance principles and environmental sustainability simultaneously, and diversify export markets and technology to reduce strategic vulnerability.
Perkembangan Pasar Uang dan Pasar Modal di Malaysia: Studi Perbandingan dengan Indonesia Yasri Azwar Siregar; Maryam Batubara
Economic Reviews Journal Vol. 5 No. 3 (2026): Economic Reviews Journal
Publisher : Masyarakat Ekonomi Syariah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56709/mrj.v5i3.1194

Abstract

This article examines the development of the money market and stock market in Malaysia and compares it with conditions in Indonesia. The study employs a descriptive-qualitative method based on a literature review of academic publications, official reports from financial authorities, and stock exchange statistics from both countries published within the last five years. The findings indicate that Malaysia's capital market, regulated by Bank Negara Malaysia and the Securities Commission Malaysia, has grown relatively steadily, with Bursa Malaysia's market capitalisation reaching approximately RM2.05 trillion in the third quarter of 2024 and the highest number of listed companies in the ASEAN region. Malaysia also maintains its position as a global Islamic finance hub, with sukuk serving as a core instrument of its money and capital markets. Meanwhile, the Indonesia Stock Exchange recorded a larger nominal market capitalisation, yet its market-capitalisation-to-GDP ratio remains relatively lower than Malaysia's. Indonesia's money market is being strengthened through Bank Indonesia's regulatory reforms and its money and foreign exchange market deepening roadmap toward 2030. Studies on ASEAN capital market integration show a relatively strong short-term linkage between the Indonesian and Malaysian capital markets. The article concludes that both countries share a broadly aligned direction of financial market development, while differing in the pace of market deepening, investor literacy, and the role of Islamic finance.