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Raden Rudi Alhempi
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INDONESIA
PENANOMICS: INTERNATIONAL JOURNAL OF ECONOMICS
ISSN : -     EISSN : 2829601X     DOI : https://doi.org/10.56107/penanomics
Core Subject : Economy,
PENANOMICS: INTERNATIONAL JOURNAL OF ECONOMICS (ISSN: 2829-601X) published every three months (April, August, December) is a peer-reviewed journal in the fields of Economics and Business and Social Sciences and their applications. Specifically, the journal covers topics in Economics, Business, Accounting and Finance, Social Sciences, Economic and Business Modeling, Public Administration, and Business Administration. PENANOMICS: INTERNATIONAL JOURNAL OF ECONOMICS publishes contributions in the form of review articles, original research articles, brief communications, technical notes, and letters to editors.
Articles 113 Documents
THE EFFECT OF CURRENT RATIO, DEBT TO EQUITY RATIO, NET PROFIT MARGIN AND TOTAL ASSETS TURNOVER ON STOCK PRICES IN FOOD AND BEVERAGE SUB-SECTOR COMPANIES LISTED ON THE IDX IN THE 2019-2023 PERIOD: THE EFFECT OF CURRENT RATIO, DEBT TO EQUITY RATIO, NET PROFIT MARGIN AND TOTAL ASSETS TURNOVER ON STOCK PRICES IN FOOD AND BEVERAGE SUB-SECTOR COMPANIES LISTED ON THE IDX IN THE 2019-2023 PERIOD Kurniawati, Santi; Zulkarnain, Iskandar
PENANOMICS: International Journal of Economics Vol. 4 No. 3 (2025): December
Publisher : Yayasan Pusat Cendekiawan Intelektual Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56107/penanomics.v4i3.274

Abstract

The purpose of this study is to determine and analyze the partial effect of the Current Ratio on Stock Prices; to determine and analyze the partial effect of the Debt to Equity Ratio on Stock Prices; to determine and analyze the effect of the Net Profit Margin on Stock Prices; to determine and analyze the effect of the Total Asset Turnover on Stock Prices; and to determine and analyze the simultaneous effect of the Current Ratio, Debt to Equity Ratio, Net Profit Margin, and Total Asset Turnover on Stock Prices. This study uses a quantitative approach. The population consists of all financial reports of Food and Beverage Sub-Sector Companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. The sampling technique used is purposive sampling or judgment sampling. The analytical technique applied is multiple linear regression and panel data regression using Eviews 12 software. The results of this study indicate that the Current Ratio (CR) partially has no significant effect on Stock Prices. The Debt to Equity Ratio (DER) partially has a negative and significant effect on Stock Prices. The Net Profit Margin (NPM) partially has a positive and significant effect on Stock Prices. The Total Asset Turnover (TATO) partially has no significant effect on Stock Prices. However, simultaneously, CR, DER, NPM, and TATO together have a significant effect on Stock Prices.
Financial Literacy and Financial Inclusion for The Welfare of Kuningan Households: Financial Literacy and Financial Inclusion for The Welfare of Kuningan Households Rahayu, Dwi Hartini; Nurhayati, Nurhayati; Wijaya, Richy
PENANOMICS: International Journal of Economics Vol. 4 No. 3 (2025): December
Publisher : Yayasan Pusat Cendekiawan Intelektual Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56107/penanomics.v4i3.276

Abstract

Financial literacy and financial inclusion are widely acknowledged as important determinants of household welfare, particularly in emerging economies and rural areas. This study examines the influence of financial literacy and financial inclusion on household welfare in Kuningan Regency, West Java, Indonesia. Using primary data collected from 160 households, the study applies Partial Least Squares–Structural Equation Modeling (PLS-SEM) to analyze the proposed relationships. Financial literacy is measured through financial knowledge, behavior, and attitude, while financial inclusion is assessed based on access, usage, and quality of financial services. Household welfare is captured through indicators of consumer durables, housing characteristics, and access to public utilities. The results show that financial literacy has a positive and statistically significant effect on household welfare, although its impact is relatively modest. In contrast, financial inclusion demonstrates a strong and highly significant positive influence on household welfare, indicating its dominant role in improving living standards. These findings suggest that policies aimed at improving household welfare should prioritize expanding financial inclusion while simultaneously strengthening financial literacy to ensure effective utilization of financial services.
THE EFFECT OF TRUST, PERCEIVED EASE OF USE, AND PERCEIVED RISK ON CONTINUANCE USE OF GOPAY: THE EFFECT OF TRUST, PERCEIVED EASE OF USE, AND PERCEIVED RISK ON CONTINUANCE USE OF GOPAY Rahayu, Shinta Sri; Kusumastuti, Sri Yani
PENANOMICS: International Journal of Economics Vol. 4 No. 3 (2025): December
Publisher : Yayasan Pusat Cendekiawan Intelektual Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56107/penanomics.v4i3.277

Abstract

Drawing on the Technology Acceptance Model (TAM) and the Expectation–Confirmation Model (ECM), this study investigates the effects of perceived ease of use, trust, and perceived risk on the continuance usage of the GoPay digital wallet. A quantitative research design was employed using a survey of 391 GoPay users in Indonesia. Data were collected through a structured Likert-scale questionnaire and analyzed using Structural Equation Modeling (SEM) to examine the proposed relationships. The findings indicate that perceived ease of use has a positive and significant effect on continuance usage, supporting TAM’s proposition that usability enhances users’ post-adoption behavior. Trust also exhibits a positive and significant influence on continuance usage, highlighting the role of transaction security, system reliability, and personal data protection in reinforcing users’ confirmation of expectations, as emphasized in ECM. In contrast, perceived risk does not significantly affect continuance usage, suggesting that potential risks are perceived as manageable and do not outweigh the perceived benefits of continued use. Overall, the results confirm that perceived ease of use and trust are the primary determinants of digital wallet continuance usage, while the integrated model explains users’ post-adoption behavior effectively. This study contributes to the fintech literature by extending TAM and ECM to the context of digital wallet services and offers managerial insights for strengthening user retention through usability and trust-enhancing strategies.

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