International Journal of Economics (IJEC)
International Journal of Economics (IJEC) E-ISSN. 2961-712X is a refereed publication that comes to address the Economic and Administration challenges that economic units of various nature face in today’s rapidly changing international economic environment. It is designed to publish original and high quality research work that will cast light in contemporary issues and will pave the way for the application of mould-braking solutions. IJEC’s general scope is to stimulate, promote and disseminate contemporary research that will have a significant impact on the theory and practice of Businesses, Public Organizations and other Institutions. IJEC’s aims to bridge the gap between theoretical developments and applied, policy-oriented research, becoming the ideal vehicle of advancing innovative ideas in the framework of entities’ economic management and general administration. In this context, the International Journal of Economics (IJEC) is bound to have a distinctive interdisciplinary profile, destined to cover a wide variety of topics spanning from Business Economics to Management, Finance, Accounting, Insurance, Risk Management, Auditing, Banking, International Economics, and Social Science. The ultimate mission of the International Journal of Economics (IJEC) is to constitute a valuable resource of scientific knowledge and applied research results for academics, practitioners and policy-makers becoming an indispensable ally in tackling modern economy’s challenges.
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<![CDATA[Price Dynamics and Demand Elasticity in the Platform Economy Era: A Quantitative Analysis of the Online Retail Sector in Indonesia ]]>
<![CDATA[Husin Lubis, Ahmad]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1720
<![CDATA[This study investigates the determinants of price dynamics and demand elasticity in Indonesia's online retail sector, with particular emphasis on platform economy effects during the 2024-2025 period. Employing a double-log regression methodology with ordinary least squares (OLS) estimation, we analyze transaction-level data from major e-commerce platforms including Shopee, Tokopedia, and Lazada. The research reveals that demand elasticity in the Indonesian online retail market exhibits pronounced price sensitivity (elasticity coefficient: -1.23 to -1.67), indicating elastic demand characteristics. Cross-price elasticity estimates suggest significant substitution effects between platforms (range: 0.45 to 0.78), driven by the mobile-first architecture and promotional intensity of the digital ecosystem. Dynamic pricing mechanisms implemented by major platforms demonstrate adaptation to localized demand variations and competitive pressures. Our findings demonstrate that platform-based price competition generates downward pressure on margins while increasing consumer surplus, with elasticity heterogeneity across product categories ranging from -0.89 (electronics) to -1.95 (fashion and accessories). The study provides quantitative evidence that platform economy dynamics fundamentally reshape traditional price-demand relationships in emerging markets, offering actionable insights for retailers, policymakers, and platform operators managing competitive pricing strategies in this rapidly evolving ecosystem]]>
<![CDATA[The Influence of Product Quality, Service Quality, Consumer Trust and Consumer Satisfaction on Consumer Loyalty ]]>
<![CDATA[Gunawan, Richo]]>;
<![CDATA[Prasetyoning Tyas, Ari Anggarani Winadi]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1756
<![CDATA[This study investigates the effects of product quality, service quality, and consumer trust on consumer loyalty to Mills Sport products, both directly and indirectly through consumer satisfaction. The research is motivated by unstable loyalty among Mills Sport consumers in West Jakarta, despite repeated purchases, which raises questions about which drivers are most critical for sustaining long‑term relationships. A quantitative survey was conducted using purposive sampling of 155 Mills Sport consumers who had purchased Mills Sport products at least twice and were at least 18 years old. Data were collected via a structured Likert‑scale questionnaire and analysed using Partial Least Squares Structural Equation Modeling (PLS‑SEM). The findings show that product quality does not significantly affect consumer satisfaction or consumer loyalty, either directly or through satisfaction. In contrast, service quality and consumer trust have significant positive effects on both satisfaction and loyalty, and consumer satisfaction significantly reinforces loyalty. Furthermore, consumer satisfaction mediates the effects of service quality and consumer trust on loyalty, but does not mediate the effect of product quality. The results highlight the central role of service quality, trust, and satisfaction in building loyalty, and suggest that Mills Sport should prioritise relational and experiential aspects over product attributes alone.]]>
<![CDATA[The Influence of Service Quality, Food Quality, Price, and Physical Environment on Customer Satisfaction and Customer Loyalty ]]>
<![CDATA[Gracia Datu, Shania Syalomita]]>;
<![CDATA[Adma Sari Sitepu]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1757
<![CDATA[Strongly embedded customer loyalty impacts consumption behavior. To win business competition, loyal customers are the main goal of the culinary industry through achieving customer satisfaction. Maintaining customer satisfaction, through: service quality as one of the main weapons to maintain prestige value by providing more satisfaction; food quality as an important component in the production process; price which has a significant influence because high or low product prices affect product sales, and the physical environment creates a first impression and influences customers' initial perceptions of service or food quality. This study aims to identify the influence of service quality, food quality, price and physical environment through customer satisfaction on customer loyalty. Sampling used a purposive sampling technique, namely customers consuming takeaway or dine-in at least twice in the past month, minimum age 18 years - maximum 47 years, domiciled in Bekasi City, processing data from 200 respondents using SEM PLS. The results showed that service quality, food quality, price and physical environment have a positive effect on customer satisfaction and customer satisfaction has a positive effect on customer loyalty. Further research can explore other relationships such as celebrity endorsers, brand love, brand awareness, brand image, brand trust and other variables]]>
<![CDATA[Integrating Maqashid Syariah in Sustainable Development Goals (SDGs): A Conceptual Framework for Green Economic Policy ]]>
<![CDATA[Sadly, Effendi]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1758
<![CDATA[This study develops a quantitative framework for integrating Maqashid Syariah principles within Sustainable Development Goals (SDGs) implementation for green economic policy in Indonesia. Employing a quantitative research design with panel data analysis covering 2018-2024, this research examines the relationship between Islamic finance development and SDG achievement across 34 provinces. The study constructs a Maqashid-SDG Integration Index comprising five dimensions: preservation of religion (hifz ad-din), life (hifz an-nafs), intellect (hifz al-aql), progeny (hifz an-nasl), and wealth (hifz al-mal). Data from Bappenas, OJK, Ministry of Finance, and BPS reveal that Islamic finance assets reached IDR 2,582 trillion in 2023, representing 10.95% market share, while green sukuk issuance totaled USD 6.9 billion since 2018. Statistical analysis demonstrates a significant positive correlation (r=0.742, p<0.01) between Islamic finance penetration and SDG performance indicators. Regression results indicate that a 1% increase in Maqashid-aligned financing contributes to 0.63% improvement in environmental SDG indicators. The findings validate that integrating Maqashid Syariah into SDG frameworks enhances policy effectiveness for green economic transition, with Indonesia's SDG index reaching 70.22 in 2024. This research provides policymakers with a measurable framework to optimize Islamic finance mechanisms for sustainable development outcomes]]>
<![CDATA[Bridging Faith and Finance: A Comparative Analysis of Islamic Bank Resilience and Contagion Risk During Global Economic Shocks (2008 vs. 2020 Crises) ]]>
<![CDATA[Samsul, Effendi]]>;
<![CDATA[Agustami, Eli]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1765
<![CDATA[This study investigates the comparative resilience and contagion risk profiles of Islamic banking systems during two major global economic crises: the 2008 Global Financial Crisis (GFC) and the 2020 COVID-19 pandemic. . However, profitability declined significantly in 2009 when the crisis affected the real economy. Conversely, during the COVID-19 pandemic, Islamic banks exhibited comparable systemic vulnerabilities to conventional banks when facing exogenous shocks, though with significantly reduced spillover effects. CAR increased from 24.0% to 26.5% while NPF improved from 2.1% to 2.0% during COVID-19, demonstrating structural resilience despite ROA declining from 1.9% to 1.4%. CoVaR analysis reveals Islamic banks receive significant directional risk spillover from conventional banks but transmit substantially less contagion. These findings suggest that while Islamic banking's profit-loss sharing principles and asset-backed financing provide buffer against financial sector crises, the system remains vulnerable to real economy disruptions, challenging the prevailing narrative of unconditional Islamic banking superiority during economic turbulenceThis study investigates the comparative resilience and contagion risk profiles of Islamic banking systems during two major global economic crises: the 2008 Global Financial Crisis (GFC) and the 2020 COVID-19 pandemic. However, profitability declined significantly in 2009 when the crisis affected the real economy. Conversely, during the COVID-19 pandemic, Islamic banks exhibited comparable systemic vulnerabilities to conventional banks when facing exogenous shocks, though with significantly reduced spillover effects. CAR increased from 24.0% to 26.5% while NPF improved from 2.1% to 2.0% during COVID-19, demonstrating structural resilience despite ROA declining from 1.9% to 1.4%. These findings suggest that while Islamic banking's profit-loss sharing principles and asset-backed financing provide buffer against financial sector crises, the system remains vulnerable to real economy disruptions, challenging the prevailing narrative of unconditional Islamic banking superiority during economic turbulence]]>
<![CDATA[Implementation of Islamic Economic Principles in Islamic Financial Institution ]]>
<![CDATA[Rinda Asytuti]]>;
<![CDATA[Sakiyah Gusriani]]>;
<![CDATA[Asna Muzayyanah]]>;
<![CDATA[Itsna Maulidal Faza]]>;
<![CDATA[Habibah, Ummu]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1598
<![CDATA[This study analyzes the substantive implementation of Islamic economic principles in Islamic financial institutions based on the framework of Maqashid al-Shariah.A qualitative case study approach was employed, collecting data through in-depth interviews and document analysis. The findings indicate that the principle of wealth protection is realized through the avoidance of riba and gharar, although operational activities are more heavily dominated by sale-based contracts rather than profit-sharing arrangements. On the other hand, the integrated social function is carried out through the management of ZISWAF, yet its implementation often faces pressure to meet profitability targets. Tensions arise between adhering to formal procedures and achieving the intended benefits.]]>
<![CDATA[Business Development Strategy With Swot and QSPM Methods (Case Study: Kampung Kopi Banaran) ]]>
<![CDATA[Rida, Rizkha]]>;
<![CDATA[Sanco Simanullang]]>;
<![CDATA[Donni Syahrial]]>;
<![CDATA[Zufri Hasrudy Siregar]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1723
<![CDATA[Kampoeng Kopi Banaran is one of the trademarks that has been established since 2003 in Bawen, Central Java, Indonesia. Kampoeng Kopi Banaran itself houses several business lines under it such as Banaran Sky View Restaurat and Banaran Coffee Shop. Banaran Coffee Shop is one of the business units of Kampoeng Kopi Banaran which has been established since 2003 until now. To achieve this desire, of course, the Kampoeng Kopi Banaran must understand the right strategy so that the business carried out can be well accepted in the market. This research uses three interrelated data processing methods, namely the IFE and EFE matrices, IE matrices, SWOT matrices and QSPM matrices. The IFE and EFE matrices are used to analyze internal and external factors, the SWOT and IE matrices are used to determine alternative development strategies for Kampoeng Kopi Banaran and the QSPM method is used to determine the priority of the Kampoeng Kopi Banaran strategy. The Strengths-Opportunities strategy, which involves using strengths to seize opportunities through different approaches, is the best company development plan for Kampoeng Kopi Banaran. a. Support from Influencers b. Make use of social media and produce engaging and pertinent material for customers. The Integration of methods create an objective and measurable strategies successfully.]]>
<![CDATA[The Role of Information System Effectiveness in Strengthening Financial Management and Performance Evaluation ]]>
<![CDATA[Syaifuddin, Syaifuddin]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1770
<![CDATA[Digitalisation in the public sector has led to higher demands for transparency, accountability, and accurate reporting. However, many organisations still face obstacles such as unsynchronised data, slow reporting processes, and performance evaluations that are not fully evidence-based. These conditions indicate that the effectiveness of information systems is urgently needed to strengthen organisational governance and performance. This study aims to analyse the influence of Information System Effectiveness on Financial Governance and Performance Evaluation in Regional Apparatus Organisations (OPD) within local government. The study uses a quantitative approach with an explanatory research design. The research population consists of OPD employees involved in the use of information systems, financial management, and/or performance evaluation. The sampling technique used purposive sampling with a sample size of 120 respondents. Data collection was conducted through questionnaires in the period November–December 2025. Data analysis used PLS-SEM with the help of SmartPLS through measurement model and structural model evaluation. The results showed that information system effectiveness had a positive effect on strengthening financial governance and improving performance evaluation. These findings confirm that an effective information system not only serves an administrative function but also becomes a strategic factor in ensuring more transparent financial management and more objective performance assessment. The implications of this study encourage OPDs to prioritise improving system quality, data integration, and information utilisation as a basis for performance control and evaluation.]]>
<![CDATA[Organizational Culture Transformation to Mitigate Human Resource Turnover: A Strategic Change Management Approach in Islamic Private Schools in Bekasi ]]>
<![CDATA[Milenia An Nisa]]>;
<![CDATA[Selvia Indrayani]]>;
<![CDATA[Ihsan Permadi]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1782
<![CDATA[This study aims to analyze change management strategies in addressing the high intensity of human resource turnover and resistance to digitalization in Islamic faith-based private schools in Bekasi. Using a qualitative approach, the study identifies the root causes as rigid paternalistic culture and bureaucratic inefficiencies. The intervention strategies are designed using Kotter eight-step change model integrated with Schein organizational culture model to transform the organization underlying assumptions. The findings indicate that the formation of a guiding coalition and the achievement of short-term wins in administrative digitalization are key factors in reducing resistance and enhancing employee engagement. In conclusion, a structured change management approach is able to foster a more inclusive and adaptive organizational culture, which ultimately reduces employees’ turnover intention.]]>
<![CDATA[Beyond Java-Centric Growth: Analyzing Structural Change and Its Impact on Regional Income Convergence in Post-Decentralization Indonesia ]]>
<![CDATA[Amrani, Amrani]]>
<![CDATA[ International Journal of Economics (IJEC) Vol. 5 No. 1 (2026): January-June ]]>
Publisher : <![CDATA[PT Inovasi Pratama Internasional ]]>
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DOI: 10.55299/ijec.v5i1.1795
<![CDATA[This study examines the relationship between structural change and regional income convergence in Indonesia following the 2001 fiscal decentralization. Utilizing quantitative analysis on 30 provinces over 2005–2018 and 514 districts from 2000–2017, we employ shift-share decomposition, club convergence testing (Phillips & Sul methodology), and dynamic panel data models. Results reveal that while Java Island maintains 57% of national GDP, post-decentralization patterns show heterogeneous convergence dynamics characterized by five distinct convergence clubs rather than uniform income convergence. Structural change, particularly within-sector productivity improvements, positively impacts regional growth, though effectiveness has declined. Dynamic structural effects increasingly negative, indicating labor reallocation toward less productive sectors. Despite decentralization policies, regional inequality persists, modulated by development thresholds and natural resource endowments. Policy implications suggest necessity for differentiated regional development strategies acknowledging structural heterogeneity across convergence clubs]]>
