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Sinergi International Journal of Economics
Published by YAYASAN SINERGI KAWULA MUDA
ISSN : -     EISSN : 29885604     DOI : https://doi.org/10.61194/economics
Core Subject : Economy,
Economics, Econometrics & Finance
Sinergi International Journal of Economics with ISSN Number 2988-5604 (Online) published by Yayasan Sinergi Kawula Muda, published original scholarly papers across the whole spectrum of economics. The journal attempts to assist in the understanding of the present and potential ability of economics to aid in the recording and interpretation of international economics.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 5 Documents
 1 
Search results for , issue "Vol. 3 No. 1 (2025): February 2025" : 5 Documents clear
The Influence of Environmental Social Governance, Green Investment, and Profitability on Firm Value: Study on the SRI-KEHATI Index (2019-2023) Hasanah , Nurlaila Luthfiyah; Paramita, Veronika Santi
Sinergi International Journal of Economics Vol. 3 No. 1 (2025): February 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/economics.v3i1.408

Abstract

 The purpose of this study is to analyse the factors that affect the value of companies in the SRI-KEHATI index for the 2019-2023 period. Researchers suspect that ESG, GI, and Profitability factors affect the firm's value. The leading indicator used to assess how a firm is performing and valued by investors is the stock price. Stock prices on the SRI-KEHATI index fluctuated from 2019-2023. From 2022 to 2023, the stock price of the SRI-KEHATI index tended to increase in line with public awareness of the environment, but the firm's value in both years decreased. The development of eco-friendly industries has now become a global trend, so companies that have implemented ESG and GI principles are believed to be able to grow and attract the interest of many investors. The quantitative method with descriptive analysis of causality is the method used in this study; the data source is secondary, and the type of data is the panel. The researcher used the purposive sampling technique to determine 15 companies selected as a sample. Researchers analyse the data using quantitative analysis. The findings of the study show that ESG has a negative impact on firm value, GI does not affect firm value, and firm value is positively affected by ROE. Meanwhile, ESG, GI, and ROE simultaneously affect a firm's value.
The Influence of Environmental Social Governance (ESG), Profitability, and Capital Structure on Firm Value in IDX ESG Leaders (2020-2023) Safitri, Ranisa Nur; Paramita, Veronika Santi
Sinergi International Journal of Economics Vol. 3 No. 1 (2025): February 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/economics.v3i1.410

Abstract

This research examines the firm value on the IDX ESG Leaders index, launched in 2020, and reflects businesses prioritizing ESG principles in their operations. The launch of the index comes amid global economic challenges due to the COVID-19 pandemic, making it relevant to explore how companies can maintain value in volatile markets. The value of IDX ESG Leaders companies declined during 2020-2023. The factors causing the drop in valuation for IDX ESG Leader are allegedly ESG, profitability, and capital structure. With increasing attention to sustainability and social responsibility, ESG is becoming essential in investment decisions. A quantitative strategy based on descriptive causality analysis is used in this study. The data utilized in this study is panel data sourced from secondary materials. The research focuses on companies listed on the IDX ESG Leaders index from 2020 to 2023, encompassing 49 companies. A purposive sampling technique was employed to select a sample of 13 companies. Data analysis was conducted using panel data regression. The findings indicate that ESG has a negative impact on firm value, while profitability positively influences firm value. Additionally, capital structure does not significantly affect firm value. Collectively, ESG, profitability, and capital structure do influence firm value. The study concludes that companies should reconsider their strategies in managing ESG, profitability, and capital structure to enhance their value in the eyes of investors, particularly in an increasingly competitive market.
The Necessity and Prospects for the Development of the Life Insurance Market in Uzbekistan Kiyasov, Sherzod Uralovich
Sinergi International Journal of Economics Vol. 3 No. 1 (2025): February 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/economics.v3i1.483

Abstract

This article analyzes the possibilities of ensuring financial protection of the population and attracting long-term investments through the popularization of life insurance. The article also proposes introducing new technologies for life insurance services and developing modern sales instruments. The study studies foreign experiences and analyzes the possibilities of applying these experiences to the conditions of Uzbekistan. The authors, focusing on the social and economic importance of life insurance, substantiate the relevance of digitalization and the introduction of innovative solutions for the development of the industry. At the same time, the article presents recommendations for improving modern insurance marketing strategies and customer service standards.
The Influence of Brand Image, Product Quality, and Service Quality on Kredit Guna Bakti (KGB) Loan Decisions for TNI AD Customers at Bank BJB Cimahi Branch Siska Lesanuari; Paramita, Veronika Santi
Sinergi International Journal of Economics Vol. 3 No. 1 (2025): February 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/economics.v3i1.404

Abstract

The increasing competition in the globalised business era requires all banks to innovate and provide the best services to their customers continuously. This is also felt by Bank BJB Cimahi Branch, which faces the challenge of a decline in interest from Indonesian Army (TNI AD) customers toward the Kredit Guna Bakti (KGB) loan product, despite offering various advantages such as competitive interest rates and quality services. This study aims to analyze the influence of brand image, product quality, and service quality on the credit decisions of Indonesian Army (TNI AD) customers using the Kredit Guna Bakti (KGB) facility at Bank BJB Cimahi Branch. Using a quantitative approach and random sampling method, data from 78 respondents were analyzed through multiple linear regression tests. The results show that brand image, product quality, and service quality positively and significantly impact credit decisions both individually and simultaneously. These findings emphasize the importance of strengthening brand image, product innovation, and improving service quality in influencing customer decisions. This study provides practical contributions to Bank BJB in designing more effective marketing and service strategies to increase customer interest in the KGB facility.
Tax Revenue and Economic Growth in Developing Countries: A Narrative Synthesis of Empirical Evidence Sekianti, Atik; Nuraini, Fariha
Sinergi International Journal of Economics Vol. 3 No. 1 (2025): February 2025
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/economics.v3i1.643

Abstract

This study explores the intricate relationship between tax revenue and economic growth in developing countries, aiming to evaluate how various tax structures influence economic outcomes. Employing a narrative review methodology, literature was sourced from databases such as Scopus and Google Scholar using a targeted set of keywords. Inclusion criteria focused on peer-reviewed empirical studies from the last two decades examining taxation, fiscal policy, and growth. Findings reveal that oil tax revenues can bolster short-term fiscal capacity but often introduce volatility tied to global price fluctuations. In contrast, non-oil taxes provide a more stable basis for sustained economic development. The review identifies a long-term correlation between tax revenue volatility and GDP instability, highlighting the critical role of institutional quality and administrative efficiency. Comparative studies show that G7 countries benefit from structured fiscal systems, while many developing countries struggle with inefficiencies, non-compliance, and narrow tax bases. Discussion points emphasize systemic barriers such as weak governance, informal economies, and low tax morale. Recommended reforms include administrative modernization, digitalization, and expanding the tax net to the informal sector. Ultimately, the study underscores that tax policy effectiveness hinges on contextual alignment with institutional capacities and socio-economic realities. Future research should address micro-level behaviors and long-term effects of taxation to enhance fiscal policy design.

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