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Journal of Economics and Business (JECOMBI)
Published by SEAN INSTITUTE
ISSN : -     EISSN : 27468887     DOI : -
Core Subject : Economy, Science,
Chemistry Economics, Econometrics & Finance
Journal of Economics and Business (JECOMBI) is a fully refereed (double-blind peer review) and an open-access online journal for academics, researchers, graduate students, early-career researchers and undergraduate students, published by SEAN Institute
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 165 Documents
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Dynamic Capability-Based Business Model for Gastronomic Entrepreneurs in Langsa City in the Digital Transformation Era Dyah Ayu Ardianti; Dhian Rosalina; Muhammad Rizqi Zati
Journal of Economics and Business (JECOMBI) Vol. 6 No. 02 (2026): Journal of Economics and Business (JECOMBI), 2026
Publisher : SEAN Institute

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Abstract

The digital transformation has changed the way culinary businesses operate and has also opened chances to promote gastronomy as an integral part of the tourism experience. This study intends to identify the dynamic capabilities of culinary MSMEs in Langsa City and to design a development strategy for a dynamic capability-based "gastronomic entrepreneur" business model. A mixed methods approach with explanatory sequential design was used. The quantitative phase used descriptive statistics (grand mean) while the qualitative phase followed the Blue Ocean Strategy framework which is the “eliminate, reduce, raise and create” method. The research was conducted on 147 culinary entrepreneursinLangsa City. The results reveal that MSME actors are able to identify changes in the market and respond to opportunities by innovating products and services. But, the ability to change corporate processes with digital technologies must be strengthened. Technology use tends to be concentrated on marketing and transactions, with less than optimal use in internal administration, transaction documentation, customer management and digital platforms. The proposed business model is based on Blue Ocean Strategy analysis; it aims to reduce conventional practices, increase digital and human resource capacities and provide digitally-enabled Acehnese gourmet experiences. This concept combines traditional food, modern technology, customers, and tourism ecosystem for improving the competitiveness of MSMEs and tourism development in Aceh.
Synergy Between Fiscal Policy and Capital Market Stability in Facing Global Challenges Gema Merdeka Goeyardi; Agus Sukoco; Chriestine Ayu Ashari
Journal of Economics and Business (JECOMBI) Vol. 6 No. 01 (2026): Journal of Economics and Business (JECOMBI), 2026
Publisher : SEAN Institute

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Abstract

This study aims to analyze the contribution of synergy between fiscal policy and financial market authorities in maintaining domestic capital market stability amidst global economic uncertainty. In an era of high volatility driven by geopolitical dynamics, commodity price fluctuations, and global monetary tightening, capital market resilience serves as a crucial indicator of a nation's macroeconomic stability. Employing a qualitative method based on a literature review approach, this study evaluates the interaction between state budget components specifically state revenue, state expenditure, and the budget balance and performance indicators of the Indonesia Stock Exchange (IDX), namely the growth trends of the Jakarta Composite Index (JCI) and market capitalization, over the 2021–2025 period. Secondary data sourced from official ministry reports, academic journals, and news articles were analyzed using content analysis techniques to identify conceptual themes and map the transmission mechanisms of the macroeconomic policy mix. The findings indicate that the implementation of countercyclical and responsive fiscal strategies effectively serves as a macroeconomic shock absorber. Fiscal interventions, such as increasing energy subsidies, successfully break the transmission chain of global inflation to the real sector, thereby preserving domestic corporate profitability and minimizing mass sell-offs on the stock exchange. Furthermore, fiscal consolidation measures that restore the health of the state budget send a positive signal to international investors by lowering sovereign credit risk, thereby triggering significant foreign capital inflows into the domestic stock market. The successful coordination and synergy among institutions within the Financial System Stability Committee (KSSK) framework fostered a resilient investment climate, culminating in a surge in the Jakarta Composite Index (JCI) performance and a record-breaking market capitalization by the end of the study period.
From Korea to Consumer Choice: How Country-of-Origin Image Shapes Purchase Intention through Perceived Quality among COSRX Consumers in Medan, Indonesia Erina Alimin
Journal of Economics and Business (JECOMBI) Vol. 6 No. 02 (2026): Journal of Economics and Business (JECOMBI), 2026
Publisher : SEAN Institute

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Abstract

The objective of this study is to evaluate the influence of Country-of-Origin image toward Purchase Intention mediated by Perceived Quality among COSRX consumers in Medan City, Indonesia. Country of Origin Image is an external stimulus, Perceived Quality is the internal appraisal of consumers and Purchase Intention is their behavioral response according to Stimulus-Organism-Response (S-O-R) model. This research uses a quantitative explanatory approach with purposive sampling for consumers who are familiar with COSRX skincare products. The application of Partial Least Squares Structural Equation Modeling (PLS-SEM) is illustrated using a simulated dataset. The results suggest that Country-of-Origin Image positively increases Perceived Quality and Purchase Intention. Furthermore, Perceived Quality positively influences Purchase Intention and acts as a complementary partial mediator of the link between Country-of-Origin Image and Purchase Intention. The results indicate that the positive view of South Korea as the place of origin directly and indirectly influences consumers’ purchasing intentions by improving their evaluations of COSRX product quality. In theory, this research extends the applicability of the S-O-R framework in international marketing by demonstrating the mediating role of Perceived Quality in the relationship between Country-of-Origin Image and Purchase Intention. Managerial implications The results suggest that the positive linkages of COO with credible product quality qualities should be incorporated to increase consumers’ confidence and purchase inclinations in the worldwide skincare marketplaces.
From Digital Accounting Capability to SME Performance: The Mediating Role of Managerial Decision-Making Quality Berupilihen Br Ginting; Arief Hidayat
Journal of Economics and Business (JECOMBI) Vol. 6 No. 02 (2026): Journal of Economics and Business (JECOMBI), 2026
Publisher : SEAN Institute

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Abstract

Small and medium-sized enterprises (SMEs) increasingly rely on digital accounting information to support effective managerial decisions and improve business performance. This study examines the effect of digital management accounting capability on SME performance, with managerial decision-making quality as a mediating variable. An explanatory quantitative design used survey data from 74 SME owners and managers in Medan City, Indonesia, selected through purposive sampling. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS 4. The results show that digital management accounting capability positively and significantly affects SME performance (β = 0.286; p = 0.008) and managerial decision-making quality (β = 0.672; p < 0.001). Managerial decision-making quality also positively and significantly affects SME performance (β = 0.521; p < 0.001). Furthermore, managerial decision-making quality significantly mediates the effect of digital management accounting capability on SME performance (β = 0.350; p < 0.001), indicating partial mediation. The model explains 45.2% of the variance in managerial decision-making quality (R² = 0.452) and 57.8% of the variance in SME performance (R² = 0.578). These findings demonstrate that digital management accounting capability enhances SME performance both directly and indirectly by improving the quality of managerial decision-making. The findings suggest that SME owners and managers should strengthen digital accounting capabilities, integrate real-time accounting information into managerial processes, and promote data-driven decision-making practices to improve business performance and competitiveness.
The Role of HR Analytics and Emotional Intelligence in Enhancing Employee Engagement: A Study on Startup Companies in Indonesia Yusuf Pathuansyah; Rizky Mery Octavianna Lubis; Nurdelila Nurdelila
Journal of Economics and Business (JECOMBI) Vol. 6 No. 02 (2026): Journal of Economics and Business (JECOMBI), 2026
Publisher : SEAN Institute

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Abstract

This study examines how human resource (HR) analytics and emotional intelligence jointly enhance employee engagement in Indonesian startup companies. A qualitative evidence-synthesis design was adopted to avoid attributing invented primary data to organizations or employees. The analytical corpus comprised peer-reviewed studies, qualitative startup research, systematic reviews, an official startup-ecosystem report, and Indonesia’s personal-data-protection regulation. Documents were purposively selected for their relevance to HR analytics, emotional intelligence, engagement, startup employment, and the Indonesian context. Reflexive thematic analysis generated six interrelated themes: analytics as an organizational listening infrastructure; emotional intelligence as a human interpretive capability; conversion of insight into individualized action; psychological safety and data trust; startup contingencies; and engagement as a reciprocal, dynamic state. The findings indicate that analytics does not directly create engagement. It strengthens engagement when reliable employee data are interpreted by emotionally intelligent leaders, translated into visible and fair interventions, and governed through transparent data practices. Conversely, intrusive monitoring, decontextualized metrics, or managerial insensitivity can reduce trust and disengage employees. The study proposes a Humanized Analytics–Engagement framework in which emotional intelligence converts analytical visibility into relationally appropriate action, while ethical governance preserves psychological safety. The article extends engagement and Job Demands–Resources perspectives to data-intensive startup workplaces and provides a practical implementation model for Indonesian founders and HR leaders.

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