International Journal of Business, Economics & Financial Studies
International Journal of Business, Economics & Financial Studies (IJBEFS) is a double-blind peer-reviewed scientific journal published 2 (two) times a year, i.e., May and November. IJBEFS applies theory developed from economics and financial studies to actual phenomena. IJBEFS aims to publish papers covering theoretical and empirical investigation across all economics and financial studies disciplines, including applied microeconomics, behavioral and experimental economics, decision theory, development economics, econometrics, economic history, Islamic economics, economics of education, economics of technology, environmental, resource, and energy economics, financial economic, game theory, health economics, industrial organization, international trade, labor economics, macroeconomics, market design, microeconomic theory, monetary economics, political economy, public economics. Organization theory, organizational behavior, human resource management, strategy, international business, entrepreneurship, tourism, innovation, and critical management studies. Financial markets (e.g., portfolio theory, asset pricing, financial intermediation, investment banking, behavioral finance), financial instruments (e.g., derivatives, futures markets, computational finance, financial engineering, financial econometrics), corporate finance (e.g., corporate governance, investment policy, agency theory, risk management), public finance management, banking systems, financial regulation and policy.
Articles
25 Documents
<![CDATA[The Effect of Instagram Marketing and Customer Experience on Customer Loyalty through Customer Engagement in Mili Kopi Pematang Siantar, Indonesia ]]>
<![CDATA[Maretta Selvana Siburian]]>;
<![CDATA[Arlina Nurbaity Lubis]]>;
<![CDATA[Syafrizal Helmi Situmorang]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.7
<![CDATA[Using social media, such as Instagram, to market products is believed to be more effective and efficient in reaching consumers. The use of social media is closely related to the phenomenon of posting, which is a profitable opportunity for businesses because it can indirectly attract consumers to visit. In addition to social media marketing, creating a good customer experience is crucial as it allows consumers to bond emotionally with the product, ensuring their loyalty. This study aimed to determine and analyze the effect of Instagram Marketing and Customer Experience on customer loyalty, with Customer Engagement as the mediating variable. An associative quantitative method was used with the help of the SPSS program. This research also employed path analysis. The sample of this study consisted of 115 respondents with the criteria of having visited and bought Mili Kopi Café products. The data were collected using questionnaires. The findings suggest that Instagram Marketing and Customer Experience positively affect Customer Loyalty. This study also found that customer engagement is proven to mediate Instagram marketing and customer experience on customer loyalty.]]>
<![CDATA[Analyzing the Impact of Foreign Direct Investment, Money Flow Dynamics, and Inflation on Economic Growth: Evidence from Special Economic Zones ]]>
<![CDATA[Andriansyah Andriansyah]]>;
<![CDATA[Erlina Erlina]]>;
<![CDATA[Amlys Syahputra Silalahi]]>;
<![CDATA[Isfenti Sadalia]]>;
<![CDATA[Rico Nur Ilham]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.8
<![CDATA[Establishing robust Special Economic Zones within the determined territorial boundaries of the Republic of Indonesia is crucial for attracting increased investments, fostering industrial growth, and optimizing economic activities with high value, propelling the nation's economic development forward. This study determines the effects of foreign direct investment, velocity of money, and inflation on economic growth in Indonesian Special Economic Zones. This time series approach involves 35 years of data collected from the Central Bureau of Statistics Indonesia. The result indicates that foreign direct investment and money velocity significantly affect economic growth. Besides that, inflation does not affect economic growth. In conclusion, this study has successfully identified the factors influencing economic growth. Also, this study found that inflation does not significantly affect economic growth in Indonesia's Special Economic Zones.]]>
<![CDATA[Unlocking Value: Exploring the Interplay of Intellectual Capital, Corporate Governance, Corporate Social Responsibility, and Profitability in Business Success ]]>
<![CDATA[Mutiah Nasution]]>;
<![CDATA[Isfenti Sadalia]]>;
<![CDATA[Nisrul Irawati]]>;
<![CDATA[Rico Nur Ilham]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.9
<![CDATA[Globalization has contributed to shifts in business practices and changes in the business environment in all industrial sectors. Many existing and developing companies face great competition domestically and globally. This causes companies to have to compete by continuously maintaining their business. This study determines the effect of intellectual capital, good corporate governance, and corporate social responsibility on firm value, with profitability as an intervening variable. This research uses secondary data, the publications of the Indonesia Stock Exchange and the Malaysia Stock Exchange, reference books, journals, research results, and data retrieved from the internet related to the research topic. The data analysis method is a statistical method assisted by the Smart PLS program. The results show that VAIC (X1) had a positive and significant direction on the profitability (ROA) variable both in Indonesia and Malaysia, GCG (X2) had a positive and significant direction on the profitability (ROA) variable in Indonesia but positive direction though insignificant direction on the Profitability variable in Malaysia, CSR (X3) had a positive but insignificant effect on the profitability (ROA) variable in Indonesia and Malaysia, and VAIC (X1) had a positive but insignificant effect on Firm Value.]]>
<![CDATA[The Effects of Company Profit and Loss and Type of Industry on the Profitability of PT. Perkebunan Nusantara IV North Sumatra, Indonesia ]]>
<![CDATA[Irada Sinta]]>;
<![CDATA[Rico Nur Ilham]]>;
<![CDATA[Nurhasanah Nurhasanah]]>;
<![CDATA[Rany Gesta Putri Rais]]>;
<![CDATA[Rahmaniar Rahmaniar]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.10
<![CDATA[This study determines the effects of company profit and loss and the type of industry on the profitability of PT Perkebunan Nusantara IV North Sumatra. This study used a quantitative method with multiple linear regression equation models to answer the research problems. The results show that the Profit and Loss variable has a positive and significant effect, the type of industry variable has a significant effect, and the Profit and Loss variable and Industry Type have a significant effect simultaneously on the Profitability of PT. Perkebunan Nusantara IV. Companies should be able to increase revenue by reducing costs efficiently so that the profits obtained can increase and financial performance can be better. PT. Perkebunan Nusantara IV has a good profitability ratio. To further increase profits in the following year, the company must be able to manage the capital invested in assets and increase net income to obtain a better net profit.]]>
<![CDATA[The Effect of Utilitarian and Hedonic Values on Consumption Behavior in Online Purchase of Fashion Sneakers among Generation Z ]]>
<![CDATA[Viola De Yusa]]>;
<![CDATA[Mahrinasari MS]]>;
<![CDATA[Satria Bangsawan]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.11
<![CDATA[Today, the contemporary world offers a wide range of fashion products such as apparel, accessories, luggage, and shoes in Indonesia. All shoe firms try to make excellent items, which becomes a huge draw for Generation Z called internet generation. This study investigates the effect of utilitarian and hedonic values on Generation Z purchase of fashion sneakers. It was a quantitative review that used the causality technique and a total of 200 people who wore sneakers were selected as the participants. Data were then analyzed using SmartPLS and a measurement model technique (outer model). The results showed that utilitarian and hedonic values significantly affect Generation Z online purchasing of sneakers. This indicates that the two variables cause people to behave consumptively, starting with viewing artists or acquaintances, affiliations and associations, as well as others.]]>
<![CDATA[Analyzing the Capital Structure, Economic Value Added, Firm Value and Environmental Performance in Indonesia ]]>
<![CDATA[Maulidia Berlianti]]>;
<![CDATA[Lindrianasari Lindrianasari]]>;
<![CDATA[Agrianti Komalasari]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 1 (2023): May 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i1.12
<![CDATA[The palm oil industry is one of Indonesia's largest foreign exchange earners and is directly associated with the job creation act had divided opinions regarding the job creation law. Positive reactions were exhibited, particularly by palm oil entrepreneurs, because one of the purposes of the law is the ease of obtaining business permits, which will facilitate investor attraction. This study provides empirical evidence in improving the capital structure, economic value added, firm value, and environmental performance of plantation companies listed on the Indonesian Stock Exchange after implementing Indonesian Act No.39 of 2014 concerning plantations. A total of 10 plantation companies listed on the Indonesian Stock Exchange from 2010-2019 were used as the sample, and the independent t-test was the analytical method employed. Subsequently, the research found an improvement after implementing Indonesian Act No.39 of 2014 concerning plantations. These results are expected to provide useful information and contributions for prospective investors of plantation companies, as well as assist in the formation of laws by the government.]]>
<![CDATA[The Effect of Principal Leadership and Educational Personnel Performance on Quality of Education in Tebing Tinggi City, Indonesia ]]>
<![CDATA[M. Alang Khairun Nizar]]>;
<![CDATA[Imelda Mardayanti]]>;
<![CDATA[Haya Haratikka]]>;
<![CDATA[Yenni Arfah]]>;
<![CDATA[Dedy Dwi Arseto]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 2 (2023): November 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i2.19
<![CDATA[Quality of education has now become necessary for improving the quality of life of people throughout the country. Improving the quality of education will be directly proportional to the quality and level of welfare of the community, meaning that education is one way to improve the welfare and life of the community. Therefore, related to the issue of education, it is demanded that the government or the state must be present at the front in realizing the ideals of the state and nation. This study uses quantitative analysis techniques through Multiple Linear Regression. The results showed that the Principal's Leadership and Educational Personnel Performance influenced the Quality Improvement of Graduates at MTs Bustanul'Ulum Guppi Tebing Tinggi City. The simultaneous (overall) effect of the Principal's Leadership and Education Personnel Performance variables on improving the quality of education is 73.00%. The magnitude of the value is strong. Partially, the Principal's Leadership Variables and the Performance of Education Personnel were tested in influencing the Quality Improvement of Graduates at MTs Bustanul'Ulum Guppi Tebing Tinggi City: The results of the Principal's Leadership study affect the Quality Improvement of Graduates by 43 percent and Educational Personnel Performance of 30 percent. Other influences that are not studied or evaluated affect the quality of public services by 27 percent.]]>
<![CDATA[Uncovering the Lack of Public Accountability: An Application of Accounting Standards for Entities in Indonesia ]]>
<![CDATA[Padri Achyarsyah]]>;
<![CDATA[Muhammad Nur]]>;
<![CDATA[Erwin Indriyanto]]>;
<![CDATA[Kumba Digdowiseiso]]>;
<![CDATA[Mohd Hassan Che Haat]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 2 (2023): November 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i2.20
<![CDATA[Financial reports hold significant value for all types of business entities, including national and multinational corporations as well as Micro, Small, and Medium Enterprises (MSMEs). Financial reports serve as a means for the report generator to inform interested parties, including the general public, investors, business proprietors, and tax authorities, of transactions that transpire during a specified period. The Indonesian Accounting Association published Accounting Standards for Entities Without Public Accountability (SAK ETAP) to assist start-up enterprises. Consequently, this study aims to investigate the execution of SAK ETAP. A systematic literature review comprises the following phases: formulation of research questions, localization of studies, selection and evaluation of studies, analysis and synthesis, and dissemination of findings via scientific articles. This study concludes that business entities and organizations examined for the implementation of SAK ETAP encompassed various sectors such as pharmacies, Limited Liability Companies (PT), cooperatives (Village Unit Cooperatives – KUD, Savings and Loans Cooperatives – KSP, Republic of Indonesia Employee Cooperatives – KPRI), Commanditaire Vennootschap – CV, People's Credit Bank (BPR), distro, Trading Business (UD), Village-Owned Enterprise (BumDes), Public Fuel Filling Station (SPBU), and Islamic boarding school.]]>
<![CDATA[Examining the Effect of Brand Image, Price and WoM Communication on Purchase Decisions: A Case Study of Rinnai Gas Stove ]]>
<![CDATA[Rakhmawati Purba]]>;
<![CDATA[Kumala Vera Dewi]]>;
<![CDATA[Aisyah Siregar]]>;
<![CDATA[Sri Winda Hardiyanti Damanik]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 2 (2023): November 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i2.21
<![CDATA[The substitution of cooking utensils from kerosene stoves to gas stoves causes housewives to consider various brands of stoves in making their purchasing decisions for their daily cooking needs for their families. This study aims to determine the effect of brand image, price, and word-of-mouth communication on the Rinnai Gas Stove Purchase Decision on Housewives in Dusun VI, Kuta Baru Village. The independent variables of this study consisted of brand image, price and word-of-mouth communication, while the dependent variable was purchasing decisions. This research is a quantitative approach. The primary data was obtained through questionnaire answers from 65 respondents who use the Rinnai gas stove in Hamlet VI, Kuta Baru Village. Data were analyzed using multiple linear regression analysis methods. The results of the analysis show that Brand Image (X1) affects the Purchasing Decision variable (Y), Price (X2) does not affect the Purchasing Decision (Y), word-of-mouth Communication (X3) affects the Purchasing Decision (Y) and Brand Image (X1), Price (X2) and WoM Communication (X3) influence simultaneously (simultaneously) on the Purchase Decision Variable (Y).]]>
<![CDATA[The Effect of Capital Structure, Financial Performance, Firm Growth and Size on Firm Value: Empirical Study on Manufacturing Listed Companies on the Indonesia Stock Exchange ]]>
<![CDATA[Rapat Piter Sony Hutauruk]]>;
<![CDATA[Rika Surianto Zalukhu]]>;
<![CDATA[Daniel Collyn]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 1 No. 2 (2023): November 2023 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v1i2.22
<![CDATA[Today, companies in the industry and the current economic conditions have created tight competition between manufacturing companies. Competition in the manufacturing industry makes every company improve its performance so that its goals can still be achieved. A high company value is the desire of every company owner because a high company value indicates the prosperity of its shareholders is also high. This study analyses the effect of capital structure, financial performance, firm growth, and size on firm value. This type of research was descriptive quantitative. The study was conducted on 181 manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2019. The research sample was 41 companies. The sampling technique used was purposive. The type of data used is secondary data. Data were analyzed using multiple linear regression analysis methods. The results show that financial performance partially has a positive and significant effect on firm value. Meanwhile, capital structure, firm growth, and firm size partially have a positive and insignificant effect on firm value.]]>
