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Agus Eko Sujianto
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CV. Cahaya Abadi Publisher Jalan H.O.S Cokroaminoto No. 59A, Pare, Kediri, East Java INDONESIA
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INDONESIA
Indonesian Economic Review
Published by CV. Cahaya Abadi
ISSN : -     EISSN : 27748073     DOI : 10.53787
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Fokus pada karya tulis ilmiah yang berkaitan dengan pembangunan perekonomian Indonesia dan kaitannya dengan perekonomian dunia yang meliputi analisis kritis terhadap isu-isu pembangunan ekonomi, pembangunan ekonomi lokal, pembangunan ekonomi masyarakat, pertumbuhan ekonomi, ekonometrika, kebijakan ekonomi, perdagangan dan keuangan internasional, fiskal dan kebijakan moneter, ekonomi kesejahteraan, ekonomi Islam, ekonomi regional, akuntansi, manajemen, integrasi ekonomi, ekonomi pariwisata dan kebijakan pembangunan mengenai Usaha Kecil dan Menengah.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 76 Documents
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Factors Influencing Public Interest in Using Sharia Financial Products: (Case Study of Ngroto Village, Gubug District, Grobogan Regency) Jihad Nurfebrianda; Puspa Ningrum, Nurani; Nadhifah, Tuti’
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.95

Abstract

Research This aim For analyze factors that influence interest public in use product finance Sharia in the Village Ngroto, District Hut, Regency Grobogan. Development industry finance Sharia in Indonesia shows significant growth​ And contribute to inclusion finance, but participation public rural Still relatively low. Research This test influence religiosity, beliefs, and literacy finance sharia to interest community. The method used is approach quantitative with cross -sectional design on 70 selected respondents purposively. Data collected through questionnaire Likert scale and analyzed use multiple linear regression with level significance 0.05. Results​ study show that religiosity and literacy finance sharia influential positive significant to interest society, whereas trust influential negative significant. In terms of simultaneous, third variables influential significant with mark coefficient determination (R²) of 0.713, which means 71.3 % of the variation interest can explained by the research model. Findings This confirm that mark religious and understanding finance sharia own role dominant in increase participation public rural areas. Research This give contribution theoretical in study economy behavior sharia as well as implications practical for institution finance sharia in strengthening literacy programs and strategy promotion based community.
Analysis of the Relationship Between Inflation and Rice Prices in Tulungagung Regency in 2021–2022 Silmina, Harisatu; Runchida Mick Plesri; M. Wahyu Agustino; Agus Eko Sujianto
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.75

Abstract

This study aims to examine the relationship between inflation and rice prices in Tulungagung Regency during the 2021–2022 period. The data used is secondary data in the form of monthly inflation records and monthly rice prices obtained from official BPS publications. The research approach uses a quantitative method with Pearson correlation analysis to assess the direction of the relationship as well as the strength of the association between the two variables. The results of the analysis showed that the correlation value was 0.746 with a significance level of 0.000 (<0.05). These findings confirm that inflation has a significant and strong positive relationship with rice prices. Thus, an increase in inflation tends to be followed by an increase in rice prices during the study period. This study provides an empirical overview related to food price dynamics and the influence of regional macroeconomic conditions, especially on staple food commodities. The findings are expected to contribute to policy considerations in controlling inflation and maintaining price stability of essential food commodities at the regional level.
Accounting Treatment of Digital Gold Transactions at BSI Mobile Sharia Perspective Iin Istiyah
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.97

Abstract

The digital transformation of Islamic banking has accelerated the development of mobile-based investment products, including digital gold services offered through BSI Mobile. Although gold trading has been normatively regulated under DSN-MUI Fatwa No. 77/2010, empirical studies examining the integration of sharia contracts and accounting treatment within real-time digital systems remain limited. This study aims to analyze the implementation mechanism of E-MAS transactions and evaluate their accounting treatment from the perspective of Islamic accounting standards. Using a qualitative case-study approach through observation, semi-structured interviews, and documentation analysis, the findings reveal that E-MAS transactions are conducted through electronic sale contracts applying constructive possession (qabd hukmi), supported by wadiah and ijarah contracts for custody and service components. Customers’ gold balances are classified as liabilities, while bank income is derived from service fees (ujrah). Although the practice generally aligns with PSAK 101, PSAK 102, and DSN-MUI Fatwa No. 77/2010, the application of existing standards remains interpretative due to the absence of specific accounting guidelines for digital gold products. This study conceptualizes digital gold transactions as a hybrid Sharia structure and highlights the need for adaptive Islamic accounting standards in the era of financial digitalization.
Forecasting the Share Price of Islamic Banks in Indonesia Using the Arima and Garch Methods Amelia Laelani Nur; Siti Parida; Zia Aliya Luthfiani; Danu Wangsa
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.100

Abstract

This study aims to analyze and forecast the stock price movements of PT Bank Syariah Indonesia Tbk (BRIS) using a time series approach. The Autoregressive Integrated Moving Average (ARIMA) model is employed to capture the mean pattern of stock prices, while the Autoregressive Conditional Heteroskedasticity (ARCH) and Generalized Autoregressive Conditional Heteroskedasticity (GARCH) models are applied to analyze volatility dynamics characterized by heteroskedasticity. Daily stock price data of BRIS are tested for stationarity using the Augmented Dickey-Fuller (ADF) test and become stationary after differencing. The results indicate significant volatility, suggesting that the GARCH model is more appropriate for further analysis. Based on the evaluation using Akaike Information Criterion (AIC), Schwarz Criterion (SC), and Hannan-Quinn (HQ), the ARIMA dan GARCH model is selected as the best model, achieving an average accuracy of 80%. These findings demonstrate that the combination of ARIMA and GARCH provides a more comprehensive understanding of the movement and volatility patterns of Islamic stock prices, serving as a useful reference for investors and policymakers in formulating investment strategies.
The Effect of Leverage, Efficiency, and Accounting Profit on Profitability at PT Adhi Karya (Persero) Tbk Period 2015-2024 Kiki Anggar Wati; Vidya Amalia Rismanty
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.102

Abstract

This study analyzes the influence of leverage, asset efficiency, and accounting profit on profitability measured by Return on Equity (ROE) at PT Adhi Karya (Persero) Tbk during 2015–2024. Leverage is proxied by the Debt to Equity Ratio (DER), efficiency by Total Asset Turnover (TATO), and accounting profit by earnings before tax. This research applies a quantitative explanatory method using secondary data derived from published annual financial statements. Data were analyzed using multiple linear regression with classical assumption tests including normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results indicate that partially, leverage and efficiency do not significantly affect profitability, while accounting profit has a positive and significant effect on ROE. Simultaneously, the three independent variables significantly influence profitability. The Adjusted R² value of 0.895 shows that 89% of profitability variation is explained by the model. These findings suggest that profit stability plays a more dominant role in improving shareholder returns compared to capital structure and asset utilization alone.
Digital Operational System Analysis: Sharia Core Banking in Digital Financial Transactions Sutono Sutono; Sofia Masukah
Indonesian Economic Review Vol. 5 No. 2 (2025): August : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v5i2.69

Abstract

The rapid development of digital technology has significantly transformed the banking sector, including Islamic banking, which is required to adapt to digital-based operational systems while maintaining compliance with Sharia principles. One of the key components supporting digital financial transactions in Islamic banks is the digital operational system through Sharia core banking. This study aims to analyze the digital operational system of Sharia core banking in supporting digital financial transactions, focusing on its role, operational mechanisms, and implementation challenges. This research employs a qualitative descriptive approach using a literature study method by reviewing relevant academic journals, books, and official regulations related to digital Islamic banking. The findings indicate that the Sharia core banking system plays a central role as the backbone of digital financial transactions by integrating transaction processing, accounting, reporting, and Sharia compliance control in real time. The system contributes to improving operational efficiency, transaction transparency, service reliability, and internal control while ensuring adherence to Sharia principles through proper contract management. However, the implementation of digital Sharia core banking systems still faces challenges related to technological infrastructure, human resource readiness, and regulatory adaptation. These challenges highlight the need for continuous system development, enhancement of human resource competencies, and regulatory harmonization. This study provides theoretical contributions to the literature on digital Islamic banking and offers practical insights for Islamic financial institutions in optimizing digital core banking systems to support sustainable digital financial services .
Integration of Tallu Lolona in the Implementation of Corporate Social Responsibility (CSR) in Micro, Small, and Medium Enterprises (MSMEs) Felisitas Tandirau; Oktavianus Pasoloran; F.E.Daromes
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.103

Abstract

Corporate Social Responsibility (CSR) has evolved from a philanthropic activity into a strategic approach to sustainable business, emphasizing the integration of economic, social, and environmental dimensions. In the context of micro, small and medium enterprises (MSMEs), CSR practices are often informal and deeply influenced by local values and community relationships. This study aims to analyze the integration of the Torajan cultural philosophy of Tallu Lolona into the implementation of Corporate Social Responsibility at UMKM Kopi 1000 Nurhidayah and to develop a conceptual model explaining how this integration contributes to business sustainability and community welfare. The research employs a qualitative approach with an interpretive paradigm and a case study method. Data were collected through semi-structured interviews, observation, and documentation involving business owners, employees, local farmers, community members, and local authorities. The findings reveal that CSR is not implemented as a formal administrative program but is embedded in daily business practices rooted in Tallu Lolona, which emphasizes the interconnectedness of humans, plants, and animals. This integration aligns with the triple bottom line framework of people, planet, and profit, resulting in a culturally grounded sustainability model referred to as the Sangkutu’ Banne Model. The study implies that local cultural values can serve as a strong ethical and strategic foundation for CSR in SMEs, enabling contextual, authentic, and long-term sustainability without relying solely on formal reporting systems.
Anti-Fraud and Anti-Money Laundering: Proactive Detection Using Artificial Neural Networks with the Fraud Hexagon Approach to Strengthen the Stability of Indonesia’s Financial Ecosystem Kus Larisa Nathania Zita; Maureen Cahayli; Najwa Salsabila Azzahra; Fatkhur Rohman
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.105

Abstract

Fraud often serves as the initial stage before progressing to money laundering, making it a crucial global financial issue. Such fraudulent practices continue to occur in Indonesia, as reflected in the country’s Corruption Perception Index score of 34/100 in 2022. This concern is further supported by a 2023 report from PPATK, which revealed more than 51,000 suspicious transactions with potential links to money laundering crimes (TPPU). In contrast, developed countries such as Singapore have managed to address fraud and money laundering by leveraging technological innovations, particularly detection tools based on artificial intelligence such as Artificial Neural Networks (ANN). The Association of Certified Fraud Examiners (ACFE) has also highlighted that 40% of fraud and money laundering cases stem from weak proactive detection by internal parties and regulators.The use of proactive detection technologies like ANN enables financial data to be updated in real time and suspicious patterns to be identified at an early stage. The primary advantage of ANN lies in its ability to detect suspicious transactions that conventional methods fail to recognize, thereby reducing the likelihood of fraud before it escalates into money laundering. Given the proven effectiveness and superiority of this detection system, it is recommended that the Financial Services Authority (OJK) enforce regulations requiring companies with annual revenues of ≥ Rp50 billion to adopt ANN-based mechanisms as an initial step to weaken fraud and prevent money laundering. This measure is expected to foster sustainable stability within Indonesia’s financial ecosystem.
The Influence of the Board of Directors, Audit Committee, and Bank Size on Financial Performance with Leverage as a Moderating Variable Alina Indra Sakti Dwijayanti; C. Tri Widiastuti; Prianka Ratri Nastiti
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.106

Abstract

The impact of the audit committee, board of directors, and bank size on the return on assets (ROA) of banks listed on the Indonesian stock exchange between 2020 and 2024 is examined in this study. As a moderating variable, the leverage ratio is investigated. Purposive sampling and a quantitative technique were used to choose 27 businesses. Simple regression analysis and moderated regression analysis (MRA) in SPSS 26 were used for the analysis. The findings indicate that whereas audit committee size has a negative, but not statistically significant, link with ROA, board size has a substantial positive correlation with ROA. Larger banks are not always more lucrative since there is a strong negative correlation between bank size and ROA. The moderation analysis's findings imply that the leverage ratio has a stronger impact on debt-intensive companies and magnifies the favorable correlation between board size and ROA. Additionally, the debt ratio was discovered to be an independent moderating factor between bank size and ROA as well as between the audit committee and ROA.
Internalisation for Strengthening Professionalism and Resilience of Employees at SMI: A Qualitative Study in Pekalongan Arif Budiharjo
Indonesian Economic Review Vol. 6 No. 1 (2026): February : Indonesian Economic Review
Publisher : Cahaya Abadi Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53787/iconev.v6i1.107

Abstract

This study examines strategies to strengthen professionalism and mental resilience among savings and financing marketing officers at three Sharia Microfinance Institutions (SMIs) in Pekalongan City and its surrounding areas. Employing a qualitative research design, data were collected through in-depth interviews, field observations, and analysis of internal institutional documents. The data were subsequently analyzed using triangulation techniques, pattern matching, and systematic visualization of findings to ensure credibility and analytical rigor. The findings reveal that high work intensity, performance targets, and competitive field conditions significantly contribute to burnout risk, work stress, and psychological discomfort among employees. However, value-based interventions emphasizing the internalization of Islamic work ethics and structured mental development programs were found to enhance motivation, professional commitment, work ethic, and employee engagement. These results underscore the strategic importance of cultivating professional character and psychological resilience as sustainable organizational efforts to improve employee performance. The study contributes to the development of human resource management practices in Islamic microfinance institutions, particularly in responding to competitive pressures while maintaining ethical and professional standards.

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