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M Nur Rianto Al Arif
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INDONESIA
ETIKONOMI
ISSN : 14128969     EISSN : 24610771     DOI : -
Core Subject : Economy,
Etikonomi is a peer-reviewed journal on Economics, Business and Management by Faculty of Economic and Business State Islamic University (UIN) Syarif Hidayatullah Jakarta. FOCUS This journal focused on economics, business, and management studies and present developments through the publication of articles, research reports, and book reviews. SCOPE Etikonomi specializes on Economics, Business, and Management, and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
Arjuna Subject : -
Articles 25 Documents
Search results for , issue "Vol. 25 No. 1 (2026)" : 25 Documents clear
Corruption as a Key Transmission Channel Linking Governance and Investor Protection in ASEAN Muhammad Firmansyah; Yuli, Sri Budi Cantika; Fitriasari, Fika; Arifin, Zainal; Flejterski, Stanislaw
ETIKONOMI Vol. 25 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v25i1.50211

Abstract

Research Originality: The Originality lies in integrating governance quality and macroeconomic variables within a unified framework while explicitly modeling corruption as a mediating variable, a focus that remains underexplored in prior studies. Research Objectives: This study examines the role of corruption as a transmission mechanism linking governance and macroeconomic factors to investor protection in ASEAN countries. Research Method: Using panel data from six ASEAN countries over the period 2010–2023, this study applies panel-data-based path analysis with bootstrapping to estimate both direct and indirect effects. Robustness checks are conducted using fixed-effects, random-effects, and System GMM estimators to ensure the consistency of the results. Empirical Results: The findings show that governance significantly enhances investor protection, while portfolio investment and interest rates exhibit varying effects depending on institutional conditions. Importantly, corruption is found to play a significant mediating role, indicating that improvements in governance and macroeconomic performance do not automatically strengthen investor protection without effective corruption control. Implications: This study suggests that policymakers should integrate governance reforms with anti-corruption strategies to improve investor protection. Strengthening institutional quality, transparency, and regulatory enforcement is essential to create a more secure and sustainable investment environment in ASEAN economies.  JEL Classification: D73, G38, F21, E44
Role of Content and Influencer Attributes in Smartphone Purchase Intention Rajagukguk, Josia; Heruwasto, Ignatius
ETIKONOMI Vol. 25 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v25i1.50275

Abstract

Research Originality: This research extends the elaboration likelihood model (ELM) by examining the effect of long-form smartphone reviews on purchase intention on YouTube in Indonesia. Research Objectives: The study aimed to examine the role of content and influencer attributes in smartphone purchase intention in Indonesia. Research Method: The ELM was employed to analyze long-form smartphone reviews by tech-influencers. Data were obtained using an online survey distributed to 477 YouTube users who watched smartphone review content. Data were analyzed by using partial least squares structural equation modeling. Empirical Results: The study's results show that purchase intention is directly and positively associated with content originality, uniqueness, and informativeness, as well as with influencer’s trustworthiness and self-presence, with content uniqueness having the strongest effect. Influencer expertise, physical attractiveness, and social attractiveness indirectly affect purchase intention positively through content attributes. Implications: This study extends the ELM theory by examining social media and products reviewed by YouTube tech influencers. It provides managerial implications for influencers and companies in the technology sector, aiming to enhance their content quality, particularly uniqueness, and personal branding.  JEL Classification: M30, M39, D91
From Certification to Compliance: Halal Compliance Rating in Indonesian Restaurants Inas Afifah Zahra; Mohammad Nur Rianto Al Arif; Muniaty Aisyah; Yuke Rahmawati
ETIKONOMI Vol. 25 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v25i1.50283

Abstract

Research Originality: This study extends halal restaurant research by reframing halal compliance from a binary certification issue into a multidimensional managerial construct. It does so through a Halal Compliance Rating (HCR) framework based on the Indonesian Halal Assurance System (IHAS). Research Objectives: This study aims to measure the importance and performance of implementing IHAS-based HCR in halal restaurants in Indonesia   Research Method: The study applied a cross-sectional survey involving 40 halal-certified restaurants purposively sampled. A structured 20-item questionnaire was developed based on the IHAS and was administered to restaurant operators. The data were then analyzed using Importance Performance Analysis (IPA). Empirical Results: Halal-certified restaurants performed well in operational aspects of halal, including thayyib and halal practices, hygiene, branding, customer trust, and halal supply chains. However, lower ratings were recorded in the human resource, cultural, and sustainability dimensions. Implications: Halal restaurant operators are expected to improve post-certification halal governance by developing staff, incorporating Islamic service values, and adopting sustainability practices. Policy implications point to the halal authorities to strengthen capacity, provision, and monitoring systems, and to ensure substantive compliance. JEL Classification: M14, L66, Z12
Does the National Health Insurance Program Affect Life Insurance Demand in Indonesia? Rapi, Kristio; Priyarsono, Dominicus Savio; Jahroh, Siti; Bakhtiar, Toni
ETIKONOMI Vol. 25 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v25i1.50403

Abstract

Research Originality:  This research pioneers a macro-institutional approach to life insurance demand by empirically proving a definitive crowding-out effect induced by Indonesia's universal healthcare mandate. Research objectives: To investigate the dynamic impact of the state-mandated JKN program and national income on private LID in Indonesia. Research methods: This study utilizes a Vector Error Correction Model (VECM) and structural break analysis on annual data from 2002 to 2022 to rigorously capture regime shifts, short-run frictions, and long-run equilibria. Empirical result: The findings reveal a definitive crowding-out effect: the JKN mandate and rising compulsory insurance penetration significantly depress private LID, whereas income maintains a significant positive elasticity in the long run. Furthermore, structural break tests confirm a fundamental, permanent shift in consumer purchasing behavior post-2014, coinciding with the introduction of the JKN program. Implications: Policymakers must orchestrate a regulatory environment that protects universal healthcare while actively sustaining the development of the private life insurance market. Insurers must innovate beyond state-overlapping benefits by developing investment-linked products and optimizing Coordination of Benefits (CoB) frameworks. JEL Classification: D12, G22, G28, I13, I18
Macroeconomic Shocks and Market Persistence: A VECM Approach to the Indonesian Financial Sector Goh, Thomas Sumarsan; Erika, Erika; Henry, Henry; Albert, Albert
ETIKONOMI Vol. 25 No. 1 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v25i1.50478

Abstract

Research Originality: This study offers fresh insights by analyzing how inflation, exchange rates, and economic growth affect Indonesia’s IDX Finance sector, addressing a key gap in understanding the market's internal dynamics. Research Objectives: This study quantifies the impact of inflation, exchange rates, and economic growth on the Indonesian IDX Finance sector.  Research Method: This study uses 62 monthly observations and a VECM to analyze short- and long-run relationships among variables. Empirical Results:  Long-run VECM estimates reveal that the Consumer Price Index (CPI) and Exchange Rate (ER) exert significant positive pressures on IDXFINANCE, suggesting that moderate inflationary environments often catalyze credit expansion and heightened demand for financial intermediation. Conversely, Economic Growth (EG) exhibits a statistically negligible long-term impact. Implications: The findings indicate that IDX Finance is largely driven by its own past dynamics rather than by external macroeconomic shocks. As a result, internal market trends provide more reliable short-term predictions than traditional economic indicators, especially when the sector’s persistence is taken into account. JEL Classification: C5, E31, F31

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