Economy and Finance Enthusiastic
"Economy and Finance Enthusiastic" (EFE) is a peer-reviewed journal dedicated to advancing the understanding and knowledge of various aspects within the fields of economy and finance. EFE provides a platform for researchers, scholars, practitioners, and policymakers to engage in scholarly discourse and contribute to the exploration of key issues, trends, and developments in the realms of economics and finance. Focus of the Journal The primary focus of "Economy and Finance Enthusiastic" encompasses the exploration and analysis of theories, concepts, and practices that shape and influence economic and financial systems. The journal aims to provide insights into how economic and financial phenomena impact individuals, societies, businesses, and governments. By examining these factors, the journal aims to contribute to informed decision-making, policy formulation, and sustainable economic development. Scope of the Journal "Economy and Finance Enthusiastic" invites submissions of original research articles, reviews, case studies, and theoretical papers that address a wide and evolving range of topics within the fields of economy and finance. The scope of the journal includes, but is not limited to, the following areas: Macroeconomics and Microeconomics: Analysis of economic behavior, market dynamics, and policy implications at both macro and micro levels. Financial Markets and Institutions: Exploration of financial instruments, market structures, banking systems, and regulatory frameworks. Corporate Finance and Investments: Studies on financial management, capital allocation, investment strategies, and risk assessment in corporations. International Finance and Trade: Research on global economic integration, cross-border investments, trade policies, and currency dynamics. Public Finance and Fiscal Policies: Examination of government expenditures, taxation, public budgeting, and fiscal strategies. Behavioral Economics and Finance: Investigations into psychological factors influencing economic and financial decision-making. Sustainable and Ethical Finance: Analysis of environmentally and socially responsible financial practices, impact investing, and ethical considerations. Emerging Technologies and Fintech: Study of technological advancements, digital currencies, blockchain, and their implications for finance. Data Analytics and Quantitative Methods: Application of data-driven approaches, modeling, and quantitative techniques in economic and financial research. The scope of "Economy and Finance Enthusiastic" is dynamic and forward-looking, reflecting the evolving nature of economic and financial landscapes. The journal encourages interdisciplinary research that anticipates future challenges and opportunities, providing valuable insights that can inform strategies for sustainable economic growth and financial stability.
Articles
31 Documents
<![CDATA[Analyzing the Impact of Economic Growth, Poverty, and Unemployment on Income Inequality in Nusa Tenggara Barat Province (2018–2022) ]]>
<![CDATA[Dewi Riskiani]]>;
<![CDATA[M. Irwan]]>;
<![CDATA[Yaya Keho]]>;
<![CDATA[Sikiru Adedokun]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 2 No. 2 (2024): July-December ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v2i2.276
<![CDATA[Income inequality is a problem that has implications for the welfare of people between regions, where there are differences in income between developed regions and underdeveloped regions. This study aims to determine how much influence economic growth, poverty and unemployment have on income inequality in Nusa Tenggara Barat Province in 2018-2022. This research is a quantitative study using secondary data in the form of panel data obtained from BPS. The method used is panel less square with common effect model. The results of this study show that the economic growth variable has a negative and insignificant effect on income inequality in the province in 2018-2022, the poverty variable has a negative and significant effect on income inequality in the province in 2018-2022, and unemployment has a positive and insignificant effect on income inequality in Nusa Tenggara Barat Province in 2018-2022. Simultaneously, economic growth, poverty and unemployment have a significant influence on income inequality.]]>
<![CDATA[Millennial Muslims Intention to Donate Cash Using the Extended Theory of Planned Behavior Approach ]]>
<![CDATA[Ahmad Aizuddin Hamzah]]>;
<![CDATA[Galad Mohamed Barre]]>;
<![CDATA[Anath Rau Krishnan]]>;
<![CDATA[Abu Bashar]]>;
<![CDATA[Mohammad Shahfaraz Khan]]>;
<![CDATA[Iqbal Thonse Hawaldar]]>;
<![CDATA[Arfi Mulyasa Insani]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 2 No. 2 (2024): July-December ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v2i2.331
<![CDATA[This study aims to understand the factors that influence millennial Muslims in South Tangerang's intention to donate cash, by applying the Extended Theory of Planned Behaviour (ETPB) approach. This research involves analysis using the SmartPLS tool to evaluate the role of attitude, subjective norms, perceived behavioral control, and moral obligation on cash waqf intention. The results show that positive attitudes towards waqf, social environmental influences, self-control, as well as moral responsibility play an important role in shaping cash waqf intentions among millennial Muslims. Attitude towards waqf is influenced by an understanding of the importance of waqf in Islam and the resulting social benefits. Subjective norms are shaped by family support and social environment, while perceived behavioral control is closely related to an individual's belief in his or her ability to endow. In addition, moral obligation shows a significant influence in driving cash waqf intention. This study provides important insights for stakeholders in promoting cash waqf as an integral part of economic and social empowerment in Muslim societies.]]>
<![CDATA[The Phenomenon of De Gustibus Non Est Disputandum and Experience-Based Marketing Instruments: A Case Study of Visitors to Bivak Terrace Coffee Shop ]]>
<![CDATA[Alvina Rahma Anggraeni]]>;
<![CDATA[Risha Fatikha Sari]]>;
<![CDATA[C.J. Lagerkvist]]>;
<![CDATA[Muhammad Imam Taufiq]]>;
<![CDATA[Sina Nematizadeh]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.332
<![CDATA[This study explores the impact of experiential marketing and perceived quality on the purchase decisions of processed coffee products at Bivak Terrace coffee shop in South Tangerang. Using a purposive sampling method, data were collected from 43 respondents and analyzed using Structural Equation Modeling Partial Least Square (SEM-PLS). The results indicate that experiential marketing significantly influences purchase decisions, whereas perceived quality, despite having a positive impact, does not significantly affect consumer purchase decisions. The findings suggest that experiential elements such as packaging and consumer experience play a more crucial role than product quality alone in influencing purchase decisions. The study recommends enhancing product quality to better satisfy consumers and maintain competitive advantage.]]>
<![CDATA[Determination of Leading Sectors in West Nusa Tenggara Province Using the Input-Output Approach ]]>
<![CDATA[Siti Sarah NH]]>;
<![CDATA[Sahri, Sahri]]>;
<![CDATA[I Dewa Ketut Yudha]]>;
<![CDATA[Najmeh Sajedianfard]]>;
<![CDATA[Joanna Maria Kozak]]>;
<![CDATA[Amin Osama Shammout]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.432
<![CDATA[The increase in added value generated by economic units based on business sectors is one of the main drivers of economic growth. High economic growth is often used as an indicator of successful economic development in a region. However, not all sectors contribute equally to this growth, making it essential to identify key sectors with strong intersectoral linkages within the economic system. This study employs a descriptive quantitative method by analyzing secondary data obtained from the Central Bureau of Statistics (BPS) of West Nusa Tenggara (NTB) for the year 2021. The analysis utilizes an input-output approach to determine priority sectors based on the Dispersion Power Index (DPI) and Sensitivity Index (SID). The Dispersion Power Index measures backward linkages, indicating the extent to which a sector stimulates other sectors through input demand. Meanwhile, the Sensitivity Index measures forward linkages, reflecting the sector’s dependence on other sectors through output sales. The findings reveal that the manufacturing industry, electricity and gas supply, and transportation and warehousing sectors exhibit high DPI and SID values, making them strategic sectors in driving NTB’s economic growth. Additionally, the agriculture, forestry, and fisheries sectors demonstrate high SID values despite having relatively lower DPI, highlighting their significant role in the regional economy. Therefore, NTB’s economic development strategy should prioritize sectors with high linkage indices while also designing policies to support sectors with lower indices to ensure balanced and sustainable economic growth.]]>
<![CDATA[Optimizing Marketing Strategies and Porter’s Five Forces Analysis to Enhance Visitor Engagement ]]>
<![CDATA[Habibur Rahman]]>;
<![CDATA[Fazila Akrami]]>;
<![CDATA[Mary Gregory]]>;
<![CDATA[Kristi Kõiv]]>;
<![CDATA[Sveta Berdibayeva]]>;
<![CDATA[Garth Lipps]]>;
<![CDATA[Deborah Yazhini Charles]]>;
<![CDATA[Shupikai Zebron]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.335
<![CDATA[Sentul Adventure is a tourism destination known for its rural charm and natural beauty, offering attractions such as river tubing, camping, outbound activities, and rice fields. However, since May 2018, the destination has seen a decline in visitor numbers due to increased competition and the availability of substitute products in the area. To address this, research was conducted to propose alternative strategies to increase visitor numbers. The study utilized the 7P marketing mix to analyze internal conditions and Porter’s Five Forces to assess external factors. Additionally, the Competitive Profile Matrix (CPM) was used to evaluate Sentul Adventure's position relative to its competitors, with further weighting through the Analytical Hierarchy Process (AHP). The SWOT matrix, Grand Strategy Matrix, and Internal-External (IE) Matrix were then employed to match strategies, followed by the use of the Quantitative Strategic Planning Matrix (QSPM) to select and analyze the recommended alternative strategies. The results revealed that the marketing mix approach identified 32 factors, while Porter’s Five Forces highlighted 19 factors. Sentul Adventure achieved the highest score among competitors in the CPM analysis. In the Grand Strategy Matrix, the destination was placed in a quadrant indicating strong market growth but weak competitive positioning. The IE Matrix placed Sentul Adventure in a quadrant that suggests a need for strategic improvements. Ultimately, the study identified market penetration, market development, and product development as the most suitable strategies, with market penetration emerging as the top alternative after analysis through the QSPM.]]>
<![CDATA[Analysis of Budget Solvency in Regencies/Cities of West Nusa Tenggara Province 2019–2023 ]]>
<![CDATA[Hidayanti, Septiana Rizkika]]>;
<![CDATA[Sriningsih, Siti]]>;
<![CDATA[Wafik, Ahmad Zaenal]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.460
<![CDATA[Budget solvency is a critical indicator of a local government's ability to meet its financial obligations and sustain essential public services over time. In the context of increasing demands for fiscal accountability and regional autonomy, assessing the financial health of local governments has become increasingly urgent, particularly in regions with diverse economic capacities such as West Nusa Tenggara Province. This study aims to analyze the budget solvency of municipal and regency governments in West Nusa Tenggara Province from 2019 to 2023. The research employs a descriptive quantitative approach. The data used in this study are secondary data from the Budget Realization Reports of regency and municipal governments in West Nusa Tenggara Province for the 2019–2023 period. Budget solvency is assessed through a three-stage calculation: (1) computing four solvency ratios related to revenue and expenditure; (2) standardizing these ratios into index values using normalization; and (3) averaging the index values to obtain the budget solvency dimension index. Budget solvency analysis is conducted using calculations of the budget solvency ratio, the budget solvency ratio index, and the budget solvency dimension index, which serve as the final measures of budget solvency. Based on the analysis results, it was found that the budget solvency of regencies and municipalities in West Nusa Tenggara Province shows relatively good outcomes and exceeds the financial health indicators for local government budget solvency.]]>
<![CDATA[Strategic Development of Village-Owned Enterprises for Enhancing Village Revenue ]]>
<![CDATA[Kipkemboi Kandie]]>;
<![CDATA[Bejo Mulyadi]]>;
<![CDATA[Iwan Riady]]>;
<![CDATA[Sujani Sujani]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 2 (2025): July-December ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.474
<![CDATA[Village-Owned Enterprises (BUMDes) play a crucial role in driving rural economic development and supporting the financial independence of villages. However, many BUMDes, including in Suntalangu Village, face challenges in optimizing their potential to significantly contribute to Village Original Income (PADes). Addressing these issues is essential to ensure sustainable village-level economic growth and improve community welfare. This study aims to identify and formulate business development strategies for BUMDes Suntalangu to increase PADes. Using the SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis method, the study evaluates internal and external factors influencing BUMDes performance. The analysis results indicate that while BUMDes has growth opportunities, existing weaknesses hinder its development. Proposed strategies to address these challenges include optimizing current assets, diversifying business activities based on untapped local potential, enhancing human resources through entrepreneurship training and education, and improving promotion and marketing through social media. The implementation of these strategies is expected to strengthen BUMDes' contribution to PADes and the economic welfare of the local community.]]>
<![CDATA[The Role of Financial Education, Additional Income and Consumption Patterns in Improving the Financial Resilience of Surabaya City Students ]]>
<![CDATA[Feriona Ayurizta Iliyas]]>;
<![CDATA[Amalia Tizka Zhahrina]]>;
<![CDATA[Linda Afifah]]>;
<![CDATA[Devi Nadia Agustina]]>;
<![CDATA[Maria Yovita R. Pandin]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 1 (2025): January-June ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i1.511
<![CDATA[Seeing the development of today's times, quite a lot can be a factor that affects the financial resilience of students. Looking at the facts, the majority of students still have difficulty in managing their consumption patterns and financial arrangements. Therefore, we compile this research to be able to provide understanding as well as useful insights for students in the process of financial management, managing additional income, consumption patterns to hopefully increase financial resilience for students. This research uses a quantitative approach through the Google form survey method that we have distributed to the scope of the city of students in the Surabaya City area. The place of our research and the preparation of this research is in Surabaya, East Java. The results of this study show that there is a relationship between the role of financial education, additional income and consumption patterns in increasing the financial resilience of students. Therefore, it is necessary to teach financial education as early as possible, so that it will increase understanding related to financial literacy for both children, students and adults.]]>
<![CDATA[Analysis of the Growth Rate, Effectiveness, Potential, and Contribution of Advertising Tax to Local Original Income (PAD) in Mataram City 2019-2023 ]]>
<![CDATA[Addini Nurizzati]]>;
<![CDATA[Muthmainnah Milliani]]>;
<![CDATA[Dwikora Harjo]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 2 (2025): July-December ]]>
Publisher : <![CDATA[Tinta Emas Publisher ]]>
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DOI: 10.59535/efe.v3i2.562
<![CDATA[This study analyzes the performance of Mataram City's advertising tax during 2019–2023 using a quantitative descriptive approach to assess the dynamics of growth rates, collection effectiveness, potential estimates, and its contribution to Regional Original Income (PAD). Secondary data are sourced from official local government documents (PAD and advertising tax target–realization), while measurements use standard measures: annual growth (current year realization compared to the previous year), effectiveness (ratio of realization to target), potential, and contribution (ratio of advertising tax realization to PAD realization). The results show an average growth rate of 56.28% (categorized as quite successful) with high volatility: a contraction in 2020 due to the pandemic shock and a sharp decline in 2023 related to the regulation of bando, changes in the stock of high-value objects, and compliance friction. The average collection effectiveness is 93.39% (effective), but is sensitive to target setting, especially during policy revisions or changes. The estimated average annual revenue of Rp468,394,100.00 is relatively small compared to the object-based revenue and historical realizations, indicating the need to standardize time units and the tax base for each media type to ensure more representative rental values. The average contribution of advertising tax to local revenue (PAD) is 1.08%, which is relatively low. Therefore, this channel is more appropriately positioned as a stable source of additional revenue if inventory management, licensing, electronic billing, and compliance enforcement are strengthened.]]>
<![CDATA[Payment Digitalization And Its Impact On The Economy: An Inter-Regional Study In Indonesia ]]>
<![CDATA[Dian Putri Maharani]]>;
<![CDATA[Naziha Romiza]]>;
<![CDATA[Nopiah, Ririn]]>
<![CDATA[ Economy and Finance Enthusiastic Vol. 3 No. 2 (2025): July-December ]]>
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DOI: 10.59535/efe.v3i2.561
<![CDATA[In recent years, economic transactions have been carried out digitally or cashless worldwide, including in Indonesia. This study aims to determine the impact of digital payments on economic growth through regional analysis in Indonesia during the COVID-19 pandemic. The data used is panel data from 34 provinces in Indonesia from 2019 to 2021. This study uses the multiple regression analysis method using the Eviews 12 program. The results show that digital payments have the greatest influence on the island of Sumatra, and have a significant positive effect on growth. economy. On the islands of Java-Bali, digital payments have no significant positive impact on economic growth. Meanwhile, on the eastern Indonesian island, digital payments do not affect economic growth. These findings suggest that government and policymakers should encourage the development of digital payment infrastructure and literacy, especially in regions where its impact on economic growth is still limited, so that the benefits of digitalization can be distributed more evenly across Indonesia.]]>
