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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 347 Documents
Does Research and Development Influence Balance of Trade? A Noble GMM-PVAR Analysis Kumar Debasis Dutta; Mallika Saha; Asif Faysal
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.37798

Abstract

Research Originality: Research and development expenditure (RDE) is essential for international trade to evolve continuously, especially during the fourth industrial revolution (4IR). Despite this significance, research on RDE and balance of trade (BOT) must be substantially improved. To the best of our knowledge, this study is the first to investigate the RDE-BOT nexus.Research Objectives: This study aims to investigate the causal relationship between RDE and the balance of trade (BOT)Research Methods: Using panel data of 64 countries, we analyse RDE-BOT relationship by employing the generalized method of moment panel vector autoregressive (GMM-PVAR) techniques. Empirical Results: The results show that RDE and BOT affect each other. RDE may initially have a detrimental effect on BOT; however, investment in RDE improves export competitiveness and thereby upholds BOT. Implications: Overall, the findings offer a nuanced understanding of RDE's potential benefits on trade outcomes and guide policymakers seeking to optimize their countries' trade positions in an increasingly globalized and knowledge-intensive economy.JEL Classification: J1, O3How to Cite:Dutta, K. D., Saha, M., Faysal, A., (2024). Does Research and Development Influence Balance of Trade? A Noble GMM-PVAR Analysis. Etikonomi, 23(2), 527 – 538. https://doi.org/10.15408/etk.v23i2.37798.
Enhancing Human Development Quality in Indonesia: Socio-Economic and Technological Capabilities Ika Yuli Setyowati; Nazaruddin Malik; Muhammad Sri Wahyudi Suliswanto
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.35508

Abstract

Research Originality: Human development is a complex issue faced by various countries worldwide. Technology is considered to have the potential to significantly impact the landscape of human development due to its potential for penetration. This research contributes to the development literature in Indonesia by focusing on the important aspects of the influence of socio-economic factors and technological capabilities on the quality of human development.Research Objectives: This research aims to analyse how socio-economic and technological capabilities influence the quality of human development in Indonesia.Research Methods: Using panel data from 34 provinces spanning the period from 2015 to 2022, the research employs a Panel Data Regression Analysis model with the best-fitted Fixed Effect model.Empirical Results: The results of this study indicate that socio-economic factors, as seen through unemployment and poverty, significantly negatively impact Indonesia's Human Development Index (HDI). Economic growth has an insignificant effect on Indonesia's HDI. Technological capabilities, measured through the ICT Development Index, and the proportion of adolescents and adults aged 15-59 with ICT skills, have a significantly positive impact on Indonesia's HDI.Implications: The results of this research identify factors that can either encourage or hinder HDI, offering valuable insights for government policymakers to enhance HDI in Indonesia, particularly in each region.JEL Classification: O15, O30, O47How to Cite:Setyowati, I. Y., Malik, N., & Suliswanto, M.S.W. (2024). Enhancing Human Development Quality in Indonesia: Socio-Economic and Technological Capabilities. Etikonomi, 23(1), 93 – 108. https://doi.org/10.15408/etk.v23i1.35508.
The Spillover Effect of Global Uncertainty on BRICS Stock Markets Allah Ditta Nawaz; Niaz Ahmed Bhutto; Shabeer Khan
ETIKONOMI Vol 22, No 1 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i1.24617

Abstract

Using monthly data spanning from 1993 to 2021 and employingthe DCC-GARCH model, this study examines the role ofEconomic Policy Uncertainty (EPU) as a potential exogenousfactor impacting the correlation of Brazil, Russia, India, andChina (BRIC) economies’ stock markets, which is new to theliterature. Further, this dynamic correlation series is used as adependent variable while EPU of BRIC and USA is used as anindependent variable by utilizing the autoregressive distributedlag (ARDL) model. The study finds a positive and significantshort-run as well as the long-run impact of Russia’s and theUS’s EPU on their stock markets. In other words, as the EPUof the USA increases, the correlation of BRIC with the USAStock Market and the World Stock Market increases, suggestingminimum diversification opportunities for the investors. Thestudy also recommends that investors diversify their portfoliosby considering cross borders assets avenues to gain maximumreturns and reduce portfolio risk.JEL Classification: E44, C32, E52, E60, E62, C58How to Cite:Nawaz, A. D., Bhutto, N. A., & Khan, S. (2023). The Spillover Effect of Global Uncertainty on BRICS Stock Markets. Etikonomi, 22(1), 45–64. https://doi.org/10.15408/etk.v22i1.24617.
The Intention of Young Muslim Generation to Use the Islamic E-Wallet Services in Indonesia Handi Risza
ETIKONOMI Vol 23, No 1 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i1.37452

Abstract

Research Originality: Technological developments have changed human behavior in economic activities, including payment methods that use e-wallets. On the other hand, consumers also need an e-wallet that complies with Sharia principles. The COVID-19 pandemic forced consumers to use digital payment methods. However, the number of studies related to the continued usage of Islamic e-wallets in Indonesia remains limited.Research Objectives: Hence, our study examines the factors influencing a person's intention to use an Islamic e-wallet.Research Method: The theoretical framework used in this study is the Technology Acceptance Model. The analysis technique employed is multiple regression analysis using 371 respondents.Result: Empirical results indicate that the factors influencing a person's intention to use an Islamic e-wallet are usability, ease of use, trustworthiness, and religiosity. However, the risk variable does not significantly affect a person's intention to use an Islamic e-wallet. Implication: These results imply that companies must improve the features and services of Islamic e-wallet applications.JEL Classification: D10, G29How to Cite:Risza, H. (2024). The Intention of Young Muslim Generation Using the Islamic E-wallet Services in Indonesia. Etikonomi, 23(1), 219 – 232. https://doi.org/10.15408/etk.v23i1.37452.
The Asymmetric Effect of Exchange Rate on the Household Consumption Expenditures Raheel Gohar; Bisharat Hussain Chang; Emmanuel Uche; Pervez Ahmed Memon; Kashif Bhatty
ETIKONOMI Vol 22, No 1 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i1.23428

Abstract

Previous literature on the exchange rate and household consumption failed to examine the effect of positive and negative changes in the exchange rate on household consumption expenditures. We extended the available literature by investigating the asymmetric impacts in African emerging economies (AEE). To attain this aim, we utilized the nonlinear ARDL model, which covers both negative and positive shocks in the exchange rate. Our results indicate that movements in the exchange rate have asymmetric impacts on household consumption in all the included emerging economies, excluding Nigeria. Our findings propose recommendations for the policymakers to ensure the alignment of the optimal exchange rate for countries of emerging African economies and propose relevant policies for the countries.JEL Classification: D12, D60, I30How to Cite:Gohar, R., Chang, B. H., Uche, E., & Bhatty, K. (2023). The Asymmetric Effect of Exchange Rate on the Household Consumption Expenditures. Etikonomi, 22(1), 31–44. https://doi.org/10.15408/etk.v22i1.23428.
Interacting labour force and Human Capital Development Effects on Manufacturing Sector Productivity Babasanya, Adeyemi Olayiwola; Okuneye, Babatunde Adekunle; Amaefule, Joseph Nwabueze
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.38648

Abstract

Research Originality: The adoption of technology in the industrial world requires a high-quality workforce. This research provides a novelty by testing human capital development against the output of the manufacturing industry.Research Objectives: This study analyzes the interactive impact of the industrial labor force and human capital development on manufacturing sector output in the West African Sub-Region from 1989 to 2022.Research Methods: The study adopted an ex post facto research design. The data used for analysis was sourced from the World Development Indicator (WDI), and the Panel ARDL method was employed to investigate the interactive impact of industrial labor force and human capital development on manufacturing output..Empirical Results: The results suggest that labor force and human capital had an interactive negative, insignificant impact on manufacturing output in the short run, while in the long run, the interaction of labor force and human capital had a significant favorable influence on the manufacturing sector's output. The composite human capital index had no significant impact on output in the manufacturing sector in both the short run and the long run.Implications: Policymakers should focus on developing initiatives that will enhance the labor force's skill sets and align them with the needs of the manufacturing sector.JEL Classification: J21, O14, O55How to Cite:Babasanya, A. O., Okuneye, B. A., & Amaefule, J. N. (2025). Interacting Labor Force and Human Capital Development Effects on Manufacturing Sector Productivity. Etikonomi, 24(1), 221 – 232. https://doi.org/10.15408/etk.v24i1.38648.
Effects of Sociographic and Personal Factors on Food Purchasing in Traditional Markets Nurliza, Nurliza
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.38288

Abstract

Research Originality: The current literature lacks a structured analysis of how interactions between lifestyle factors and sociodemographic changes impact food purchasing behavior in traditional markets. By analyzing these factors, businesses can optimize product selections, refine marketing strategies, and enhance customer engagement to align with the diverse preferences and requirements of their target market, adapting to both current trends and future changes.Research Objectives: This study employs a psychodynamic approach, the theory of personality traits, two-way physical and perceptual interactions, and household assumptions to examine how sociographic lifestyle, household characteristics, and personality traits influence food purchasing behavior. Research Methods: The mixed methods, which included in-depth interviews with 183 household customers, utilized non-probability sampling and partial least squares structural equation modeling.Empirical Results: Increased food purchasing behavior is caused by changing sociographic lifestyles rather than personality traits and household characteristics. A greater sociodemographic lifestyle, personality traits, and household characteristics correspond to increased friendship, values, responsible spending, and household size.Implications: Food safety regulations must be implemented effectively, which includes appointing market management authorities, as agencies in the informal food sector are often underfunded and unregulated.JEL Classification: D1, E21, L66, R2How to Cite:Nurliza. (2025). Consumers in Traditional Markets: Sociographic Lifestyle, Household Features, and Personality Traits. Etikonomi, 24(1), 205 – 220. https://doi.org/10.15408/etk.v24i1.38288.
The Impact of Financial Metrics on ESG Disclosure in ASEAN Countries Putra, Donny Maha
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.37712

Abstract

Research Originality: This study breaks new ground by examining how financial metrics (ROA, ROCE, ETR, SGR, board size) influence ESG disclosure in the unique context of ASEAN.Research Objective: It investigates the relationship between financial performance and ESG disclosure levels for listed companies in Indonesia, Singapore, and Thailand.Research Methods:  Utilizing an in-depth analysis of 300 annual reports over a ten-year period (2011-2020), the study reveals country-specific dynamics.Empirical Results: For instance, Indonesian companies display a weak correlation between effective tax rate (ETR) and ESG disclosure. Conversely, Singaporean companies with higher return on assets (ROA) tend to report less ESG information. Thailand exhibits a more complex interplay, where aggressive tax strategies potentially hinder positive ESG perceptions.Implications: These findings highlight the critical need for tailoring ESG disclosure strategies to each country's financial performance landscape. Additionally, the importance of responsible tax practices is emphasized. This knowledge empowers companies, investors, and policymakers to develop a more targeted approach to ESG implementation across ASEAN.JEL Classification: G32, M14, Q56How to Cite:Putra, D.M. (2025). Impact of Financial Metrics on ESG Disclosure in ASEAN Countries. Etikonomi, 24(1), 85 – 96. https://doi.org/10.15408/etk.v24i1.37712.
Orchestrating Digital Economy to Foster Economic Resilience of Smart Cities: The Soft System Approach Subkhan, Farid; Maarif, Mohammad Syamsul; Rochman, Nurul Taufiqu; Nugraha, Yudhistira
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.39224

Abstract

Research originality: This study provides new practical knowledge on the digital economy model and strategy to drive the resilient economy of smart cities.Research objective: This study aims to develop a digital economy management model for smart cities, a resilient economy framework for smart cities, and digital economy strategies for smart cities.  Research methods: This study employed a soft system methodology (SSM)-action approach by involving 30 digital economy and smart city experts from Jakarta, Bandung, Semarang, Surabaya, Banyuwangi, and Makassar.Empirical result: This study has successfully developed the digital economy model for smart cities by which digital technology, digital services, and digital finance are the keys. The resilient economy of smart cities is primarily characterized by economies of scale, economic structure, and economic stability. Moreover, the strategies should mainly focus on developing infrastructure and application, digital governance and policy, and digital society.Implication: The policy maker must consider critical policy interventions of the digital economy model and economic resilience goals, including budget priorities to the key digital economy strategies.JEL Classification: M21, O14, O18, P25, R11How to Cite:Subkhan, F., Maarif, M. S., Rochman, N. T., & Nugraha, Y. (2025). Orchestrating Digital Economy to Foster Economic Resilience of Smart Cities: The Soft System Approach. Etikonomi, 24(1), 315 – 334. https://doi.org/10.15408/etk.v24i1.39224.
Determinant of Earnings Response Coefficient with Sales Growth as Moderating Pramesti, I Gusti Ayu Asri; Murwaningsari, Etty
ETIKONOMI Vol 24, No 1 (2025)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v24i1.38165

Abstract

 Research Originality: This study provides a new perspective by including the less explored sales growth as a factor that could potentially strengthen or weaken the relationship between earnings and market response. Investigating sales growth is crucial, as it enhances investor perceptions of revenue growth, a key indicator of corporate success.Research Objectives: This study analyzes the factors that affect earnings response coefficients in basic material and industrial companies listed on the Indonesia Stock Exchange in 2020–2022.Research Methods: This study uses secondary data that consisted of 76 companies with 228 observations in the basic material and industrial sectors listed on the Indonesia Stock Exchange from 2020 to 2022. This research uses multiple linear regression analysis and the data distribution is panel data.Empirical Results: The findings show that free cash flow has a positive effect on the earnings response coefficient, and systematic risk has a negative effect. Capital expenditure does not affect the earnings response coefficient. Sales growth, as moderation, can weaken systematic risk on the earnings response coefficient.Implication: This study had theoretical implications for examining the theory related to the earnings response coefficient. Practically, it provided investors with an overview of earnings quality, as shown by capital expenditure and free cash flow.JEL Classification: L6, D21, G10How to Cite:Pramesti, I. G. A. A., & Murwaningsari, E. (2025). Determinant of Earnings Response Coefficient with Sales Growth as Moderating. Etikonomi, 24(1), 233 – 246. https://doi.org/10.15408/etk.v24i1.38165.