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Indanazulfa Qurrota A'yun
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INDONESIA
Journal of Asset Management and Public Economy
Published by Universitas Ahmad Dahlan
ISSN : -     EISSN : 28279816     DOI : https://doi.org/10.12928/jampe.v1i1.4952
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
JAMPE (Journal of Asset Management and Public Economy) publishes research findings of economics both in national and international developments as well as economic theory and application in asset management and public economics, but is not limited to: International economics Monetary economics and banking finance Development and planning economics Regional economics Environmental economics Property valuation Islamic economics Political econoimcs Creative economy
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "vol. 5 no. 2 (2026)" : 5 Documents clear
Defining and Measuring Housing Location in Appraisal and Hedonic Price Models: A Systematic Review Bagaskara Bagaskara; Wakhid Slamet Ciptono
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i2.12673

Abstract

Location is a complex, multidimensional aspect often highly preferential and dependent on personal preference. In general discussions, this may not pose a significant problem. However, in quantitative analyses such as housing appraisals (sales comparison approach) or applied research using the hedonic price model, the nature and characteristics of location can become a major issue. Even though location is often included in housing studies, there is no clear and straightforward way to measure it as a single variable. This challenge is exacerbated in Indonesia due to the lack of a valid and reliable property database. Therefore, this study conducts a systematic review that contributes to the understanding of how location can be measured objectively. The present study aims to propose an alternative method for defining and measuring the strategic location of housing in appraisal practice, particularly through the sales comparison approach. Based on the review, location is measured using two aspects: spatial aspects and circumstantial aspects. Generally, spatial aspects are much more dominant than circumstantial aspects. The identified location dimensions include distance to the Central Business District (CBD), transportation facilities, commercial/shopping centers, employment centers, health facilities, educational facilities, recreational areas, as well as the conditions and accessibility to these amenities. The results of this study provide practical implications for improving the accuracy of property appraisal practices and offer a useful reference for future research, particularly in data-limited contexts such as Indonesia.
Electricity Consumption Dynamics in Indonesia: ARDL Approach Thangraj Venkatesanirst; Suripto Suripto; Natasya Cut Dian Amelia; Azkal Azkiya Athfal
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i2.15791

Abstract

This study analyzes the determinants of per capita electricity consumption in Indonesia using consumption expenditure, foreign direct investment (FDI), trade, and inflation over the period 1980–2022. Given the increasing electricity demand driven by economic growth and structural transformation, understanding these determinants is essential for sustainable energy planning. This study contributes by providing evidence on how macroeconomic variables affect electricity consumption differently in the short run and long run in Indonesia. The findings imply that energy policy should distinguish between short-term demand management and long-term supply planning. The results show that, in the short run, consumption expenditure and trade have a positive and significant effect on electricity consumption, while inflation has a negative and significant impact. FDI has no significant effect in the short term. In the long term, FDI and inflation have a positive and significant effect on per capita electricity consumption, indicating that foreign investment strengthens industrial and infrastructure capacity, thereby increasing energy demand. Consumption and trade spending are not statistically significant in the long run, which indicates that the impact is temporary. These findings imply that electricity demand in Indonesia is influenced by both cyclical and structural factors. Therefore, energy policy should differentiate between short-term demand stabilization and long-term planning, particularly by promoting productive investment and maintaining macroeconomic stability.
Macroeconomic and Environmental Determinants of FDI in 6-ASEAN Countries: A Panel Analysis Muhammad Fathur Reza; Silvia Maura Madrim; Indanazulfa Qurrota A'yun
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i2.15931

Abstract

Foreign Direct Investment (FDI) plays an important role in promoting economic growth, technology transfer, employment creation, and regional economic integration in developing countries, particularly in ASEAN economies. However, despite the growing literature on FDI determinants, previous studies have generally examined macroeconomic, environmental, financial, and technological factors separately, resulting in limited understanding of their combined effects on FDI inflows, especially in the ASEAN context. This study offers a more integrated perspective by simultaneously incorporating economic growth, carbon emissions, domestic credit, technology, and energy consumption into a unified empirical framework using the Seemingly Unrelated Regression–Panel Corrected Standard Errors (SUR-PCSE) approach. The study analyzes panel data from six ASEAN countries: Cambodia, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. The results indicate that economic growth, domestic credit, and energy consumption have significant positive effects on FDI inflows, while carbon emissions negatively affect FDI. In contrast, technology does not have a statistically significant effect on FDI in the observed countries. These findings suggest that ASEAN economies still rely heavily on macroeconomic stability, financial development, and infrastructure readiness in attracting foreign investment, while environmental sustainability is becoming increasingly important in shaping investment decisions. This study contributes to the literature by providing a more comprehensive framework for analyzing FDI determinants in ASEAN countries and offers policy insights for strengthening sustainable investment competitiveness in developing economies.
FDI Determinants in Asia: Financial Inclusion and Macroeconomic Stability—A First-Difference GMM Approach Hopkins Henry Kawaye; Agustina Puji Rahayu; Firsty Ramadhona Amalia Lubis; Nurul Azizah Az Zakiyyah; Selly Kudrati Ningsih; Happy Febrina Hariyani
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i2.16076

Abstract

This study analyses the influence of financial inclusion and macroeconomic variables on Foreign Direct Investment (FDI) in nine Asian countries with the highest FDI performance during 2011–2023. Using secondary data from the World Bank, this research employs a dynamic panel-data approach with the First-Difference Generalised Method of Moments (FD-GMM) to address potential endogeneity issues. The variables examined include inflation, interest rates, trade openness, bank credit financing, and the number of bank branches as proxies for financial inclusion. The results indicate that all variables have a positive and significant effect on FDI inflows. The main contributions of this study lie in three areas. First, this study integrates financial inclusion indicators—specifically bank credit and branch availability—into the analysis of FDI determinants, an area that remains underexplored compared to traditional macroeconomic factors. Second, this study provides empirical evidence from a focused sample of top-performing Asian economies, offering more targeted regional insights into FDI dynamics. Third, by applying the FD-GMM approach, this study enhances methodological robustness by addressing endogeneity and dynamic relationships, which are often overlooked in conventional panel-data analyses. These findings suggest that strengthening financial inclusion alongside maintaining macroeconomic stability can significantly enhance a country's attractiveness to foreign investors. From a policy perspective, governments should improve access to financial services while maintaining macroeconomic stability to foster a more conducive investment climate. These findings also provide empirical evidence for policymakers in emerging Asian economies seeking to design strategies for attracting sustainable foreign direct investment.
Monetary Valuation of Human Capital: Theoretical Framework and Simulation of Modern HRA Models Damar Jati; Minadi Wijaya; Gawik Setiawan; Fatima Muhammad Abdulkarim
JAMPE (Journal of Asset Management and Public Economy) Vol. 5 No. 2 (2026)
Publisher : Universitas Ahmad Dahlan, Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jampe.v5i2.16271

Abstract

This research is motivated by the shift toward knowledge-based economies and the rise of start-ups, where human resources are the primary strategic asset but remain unrecognized in conventional accounting. This limitation may lead to an incomplete representation of corporate value and contribute to valuation discrepancies. This study aims to examine and synthesize various monetary valuation models in Human Resource Accounting (HRA) to address the limitations of conventional accounting in recognizing human capital as a strategic asset. The study adopts a qualitative literature review and conceptual analysis, drawing on foundational theories of human resources, including Resource-Based Theory, and major monetary valuation models such as the Lev and Schwartz compensation model, the Flamholtz model of individual and organizational economic value, and the Jaggi and Lau group valuation approach. Through content and comparative analysis, the study evaluates these models based on their theoretical foundations, valuation assumptions, and practical applicability in converting human productivity into monetary value. The synthesis further demonstrates that while individual-based valuation models provide greater measurement precision, organization-level economic value approaches are more suitable for corporate reporting due to their broader applicability. This study provides a unified analytical framework for comparing major monetary valuation models in Human Resource Accounting. Overall, the study concludes that no single monetary valuation model is universally applicable; rather, model selection should align with the intended valuation objective. These findings support more effective human capital valuation and corporate reporting.

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