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Economics and Business Journal
Published by PT. Maju Malaqbi Makkarana
ISSN : -     EISSN : 29637589     DOI : https://doi.org/10.47353/ecbis
Core Subject : Economy,
Economics, Econometrics & Finance
Economics and Business Journal (ECBIS) | ISSN (e): 2963-7589 is an international peer-reviewed, open access scientific journal dedicated to the advancement and dissemination of research results that support high-level research in the fields of Economics, Management and Business, this journal publishes articles six times a year in January, March, May, July, September, and November. The Journal is particularly interested in papers relevant to the whole economic and business issues, comprised of three salient disciplines: (1) economics, (2) business administration, and (3) accounting. These fields are furthermore divided into the following specific areas: Economics: Public Economics, International Economics, Development Economics, Monetary Economics, Financial Economics, Game Theory. Business : Finance, Marketing, Human Resource Management, Strategic Management, Operations, Entrepreneurship, and Ethics. Accounting: Public Sector Accounting, Taxation, Financial Accounting, Management Accounting, Auditing, and Information Systems. The aforementioned areas are just indicative, and the Board of Editors is in principle welcoming rigorous articles that encompass scientific economics and business fields.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 337 Documents
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The Effect of Profitability and Company Value on Stock Prices in Health Sector Companies Listed on The Indonesia Stock Exchange for The Period 2020-2024 Wahyuni, Zalsabillah Cahya; Musa, Chalid Imran; Anwar; Nurman; Rahman, Abdul
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.301

Abstract

This study aims to examine the influence of profitability and firm value on stock prices in health sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. A quantitative approach with a documentation method was employed in this research. The population consisted of all health sector companies within the specified period, while the sample was selected using a purposive sampling technique based on predetermined criteria, resulting in a total of 15 companies. Data were analyzed using panel data regression through the Economic Views (EViews) 12 software. The findings of this study indicate that, profitability (ROA) has a positive and significant effect on stock prices of health sector companies for the 2020–2024 period. Similarly, firm value (Tobin’s Q) also shows a positive and significant influence on stock prices within the same period
The Role of Strategy Agility as a Mediation Variable is Reviewed with Human Capital and Absorptive Capacity in Influencing the Performance of PT Bank Sumut Kampung Lalang Branch Office Simbolon, Rudi Ardi Anugrah; Absah, Yeni; Lumbanraja, Prihatin
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.302

Abstract

This study aims to analyze the role of strategy agility as a mediating variable in the relationship between human capital, absorptive capacity, and performance of PT Bank Sumut Kampung Lalang Branch Office. The method used was a quantitative approach with data collection through questionnaires distributed to 49 respondents. The results of the study show that human capital and absorptive capacity have a positive and significant effect on company performance. In addition, human capital and absorptive capacity also have a positive effect on strategic agility. Strategy agility has been proven to be able to mediate the relationship between human capital and absorptive capacity to company performance. These findings emphasize the importance of human resource management and the organization's ability to absorb new knowledge to improve performance in the competitive banking industry. This research is expected to provide insight for management in formulating more effective strategies to improve the Company's performance.
Exploring The Role of Transformational Leadership in Enhancing Employee Engagement: a Qualitative Study in Contemporary Work Environments A Rahman, Fatmawati; Goeliling, Ardhie; Achmad, Abdurrahman; Tambunan, Rince; Putri, Rezqi Sri Saleko
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.303

Abstract

The rapid transformation of contemporary work environments driven by digitalization, hybrid work systems, and evolving workforce expectations has intensified the need for effective leadership approaches that foster employee engagement. This study aims to explore the role of transformational leadership in enhancing employee engagement within contemporary organizational contexts using a qualitative research design. Guided by a phenomenological approach, data were collected through in depth semi structured interviews with employees who had direct supervisory relationships in digitally mediated or hybrid work settings. Thematic analysis revealed four major themes: visionary inspiration and meaningful work, individualized support and psychological safety, intellectual stimulation and professional growth, and trust based relationships and organizational identification. The findings indicate that transformational leadership strengthens employee engagement by cultivating meaningfulness, empowerment, trust, and intrinsic motivation, which collectively enhance employees’ physical, cognitive, and emotional involvement in their work roles. The study extends existing leadership and engagement theories by providing contextualized insights into how transformational leadership is experienced in modern organizational environments. Practically, the findings highlight the importance of developing transformational competencies among leaders to sustain engagement and performance in increasingly complex and interconnected workplaces
Exploring Consumer Psychology in Digital Product Purchase Decisions: A Qualitative Study of Social Media Users Rizky, Alifia Ainun; Kessi, Andi Muhammad Fara; Santy, Raeni Dwi
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.298

Abstract

The rapid development of digital technology and social media platforms has significantly transformed consumer purchasing behavior, particularly in relation to digital products. Social media has evolved beyond its traditional role as a communication platform and now functions as an important environment where consumers discover, evaluate, and purchase products. This study aims to explore the psychological factors that influence consumer decision-making in purchasing digital products through social media platforms. A qualitative research approach was employed to gain an in-depth understanding of consumers' experiences and perspectives. Data were collected through semi-structured in-depth interviews with social media users who had purchased digital products based on information encountered on social media platforms. The collected data were analyzed using thematic analysis to identify patterns and themes related to consumer psychology in digital purchasing behavior. The findings reveal that consumer decision-making in purchasing digital products is influenced by several interconnected psychological and social factors. Five major themes emerged from the analysis: social media as a discovery environment, cognitive evaluation of digital products, trust formation and credibility cues, psychological motivations for purchasing digital products, and social influence from peers, influencers, and online communities. The results indicate that social media plays a significant role not only in introducing digital products but also in shaping consumer perceptions, trust, and purchase intentions. Consumers actively interpret information obtained from social media, evaluate product credibility through reviews and recommendations, and rely on social interactions to reduce uncertainty before making purchase decisions. This study contributes to the understanding of consumer psychology in digital environments by highlighting how psychological motivations and social influences interact within social media platforms to shape digital purchasing decisions. The findings also provide practical insights for digital marketers and product creators to design more effective strategies that emphasize authenticity, trust-building, and community engagement in promoting digital products.
Resource Based Business Resilience The Moderating Role Of Akhlakul Karimah In The Ar Rahman Human Being Model Achmad, Abdurrahman
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.305

Abstract

This study examines the Ar Rahman Human Being (ARHB) Model as an integrative framework of resource-based business resilience by incorporating akhlakul karimah as moral capital functioning as an internal governance mechanism. The study addresses the limitation of the resource-based view (RBV), which tends to emphasize resource capacity without adequately considering the normative dimension guiding its utilization. A contingency model is proposed that positions internal moral quality as a conditioning factor for the effectiveness of strategic resources in enhancing business resilience. Using an explanatory quantitative approach with a cross-sectional design, data were collected from 250 micro and small enterprise (MSE) owners in Makassar City. Structural Equation Modeling based on Partial Least Squares (SEM-PLS) was employed to analyze the direct effects of expertise, education and training, physical capacity, and capital on business resilience, as well as the moderating role of akhlakul karimah in these relationships. The results indicate that expertise, education and training, physical capacity, and capital positively influence business resilience. Furthermore, akhlakul karimah strengthens the relationship between strategic resources and business resilience, suggesting that the effectiveness of transforming technical capacities into business resilience is contingent upon the entrepreneur’s internal moral quality. These findings extend resource-based business resilience discourse by integrating moral capital as an internal governance mechanism.
Perceptions and Experiences of Beginner Investors In Making Investment Decisions in The Digital Era: A Qualitative Study of Investment Application Users Pratama, Muhammad Faried; Rachmawati; Tambunan, Rince
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.306

Abstract

The rapid development of digital financial technology has significantly transformed investment activities by providing easier access to financial markets through digital investment applications. This study aims to explore the perceptions and experiences of beginner investors in making investment decisions in the digital era. Using a qualitative research approach with a phenomenological perspective, data were collected through semi-structured interviews with beginner investors who actively use digital investment applications. The collected data were analyzed using thematic analysis to identify patterns and themes related to investors’ experiences and decision-making processes. The findings reveal that investment decision-making among beginner investors is influenced by several interconnected factors, including the accessibility and usability of digital investment platforms, the influence of social media and online communities, the development of financial literacy, and psychological experiences related to investment gains and losses. Digital investment applications play a crucial role in lowering barriers to market participation by providing user-friendly interfaces and accessible financial information. However, reliance on social media as a source of investment information may also expose investors to misinformation and speculative investment behavior. In addition, emotional responses such as confidence, fear, and uncertainty often influence investment decisions among beginner investors. Overall, the study highlights that investment decision-making in the digital era is a multidimensional process shaped by technological accessibility, social influence, financial knowledge, and psychological factors. These findings contribute to a deeper understanding of investor behavior in digital financial environments and emphasize the importance of financial education and responsible investment practices.
Analysis of The Effect International Prices, Exchange Rates, Non-Tarif Measures, and Import Volume On The Export Value Of Indonesian Cloves (Hs:0907) To India Jonathan, Krisna Adi; Oktafia, Renny
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.304

Abstract

This study aims to analyze the influence of international prices, the rupiah–rupee exchange rate, non-tariff measures, and India’s import volume on the export value of Indonesian cloves to India. The research utilizes secondary data for the period 2015–2024. The analytical method employed is the Autoregressive Distributed Lag (ARDL) model to examine both short-run and long-run relationships, complemented by stationarity tests, cointegration tests, ECM estimation, and diagnostic and stability tests. The results show that international prices have a positive and significant effect on Indonesia’s clove export value, consistent with export-supply theory which states that higher global prices increase export incentives. The rupiah–rupee exchange rate displays a positive but insignificant relationship, indicating that exchange rate volatility is not sufficiently strong to influence changes in export value. Non-tariff measures, including SPS and TBT standards, are found to have a significant effect, reflecting the role of regulations in increasing compliance costs while simultaneously enhancing Indian consumer confidence in the quality of Indonesian cloves. India’s import volume also has a significant influence, showing that India’s domestic demand remains a major driver of Indonesia’s export value during the study period. This study is expected to provide insights for policymakers and industry players in strengthening trade strategies, particularly in enhancing the competitiveness of Indonesian clove exports through quality improvements, exchange rate stability, and compliance with non-tariff standards.
The Relationship Between Work Culture And Employee Performance: Mediation Of Job Satisfaction And Moderation Of Leadership In Bank BJB Syariah Handayani, Tri Utami; Mukhsin, Moh.
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.307

Abstract

This study examines work culture, job satisfaction (mediator), and leadership (moderator) as predictors of employee performance at PT Bank BJB Syariah Serang Branch, where average KPI achievement stood at only 90.5% in 2024. A census survey of all 190 employees was analyzed using PLS-SEM via SmartPLS.The results show: (1) work culture is positively associated with employee performance (β = 0.512, p < .001); (2) work culture is positively associated with job satisfaction (β = 0.991, p < .001); (3) job satisfaction is positively associated with employee performance (β = 0.160, p < .001); (4) job satisfaction partially mediates the work culture–performance relationship (β = 0.159, p < .001); and (5) leadership significantly moderates the work culture–performance relationship with a buffering effect (p < .001). This study extends JD-R Theory to faith-based organizations by demonstrating that Islamic values reshape job resources: work culture becomes a dominant predictor of satisfaction, and leadership operates as a buffering moderator through substitution mechanisms. These findings highlight the strategic importance of strengthening Islamic work culture, effective leadership, and job satisfaction as key predictors of employee performance in Islamic banking.
Linking Digital Literacy to Workforce Development and Macroeconomic Growth Aswar, Nurul Fadilah
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.300

Abstract

This study examines the linkage between digital literacy, workforce development, and macroeconomic growth in the context of an increasingly digitalized economy. Moving beyond descriptive approaches, it investigates how digital competencies function as a critical mechanism shaping labor productivity, innovation capacity, and economic performance. Using cross-sectoral data and workforce survey evidence, the study analyzes the extent to which digital skills contribute to workforce adaptability and organizational efficiency. The findings reveal that higher levels of digital literacy significantly enhance workforce development by improving skill alignment, fostering innovation, and increasing competitiveness across industries. At the macro level, these improvements translate into measurable contributions to economic growth through productivity gains and structural transformation. Furthermore, the study underscores the importance of multi-stakeholder collaboration among educational institutions, industry, and government in designing integrated digital literacy programs. Such coordinated efforts are essential to ensure sustainable skill development and long-term economic resilience. This research contributes to the literature by providing an integrated perspective that explicitly links digital literacy to both workforce development and macroeconomic outcomes, offering practical implications for policymakers and stakeholders in shaping inclusive and sustainable growth strategies.
Wardah's Digital Marketing Strategy through Islamic Branding, Influencer Marketing, and Flash Sale Programs to Increase Online Shopping Decisions on the Shopee Platform Musa, Chalid Imran; Azhari, Azlan; Parinsi, Kristina
Economics and Business Journal (ECBIS) Vol. 4 No. 3 (2026): March
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i3.313

Abstract

The rapid growth of digital technology and e-commerce has transformed consumer behavior, particularly in online beauty product purchases. This study aims to examine the influence of Islamic Branding, Influencer Marketing, and Flash Sale on online shopping decisions for Wardah beauty products on Shopee. Using a quantitative approach, data were collected from 100 respondents in Makassar who had purchased Wardah products online. The data were analyzed using multiple linear regression with SPSS 26. The results indicate that Islamic Branding, Influencer Marketing, and Flash Sale each have a positive and significant effect on online shopping decisions. Simultaneously, these three variables contribute 51% to consumer purchasing decisions, showing that a combination of religiosity-based branding, social influence, and urgency-driven promotion effectively encourages consumer purchases. The findings suggest that integrating Islamic values with digital marketing strategies enhances consumer trust and purchase intention in the halal beauty market. 

Page 28 of 34 | Total Record : 337

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