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
30 Documents
<![CDATA[Effect of Leadership Style and Job Satisfaction on Employee Performance: Evidence from Indonesia Honorary Staff ]]>
<![CDATA[Rusmewahni, Rusmewahni]]>;
<![CDATA[Jayanti, Suci Etri]]>;
<![CDATA[Siahaan, Rumiris]]>;
<![CDATA[Sinurat, Mangasi]]>;
<![CDATA[Ilham, Rico Nur]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 2 No. 1 (2024): May 2024 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v2i1.48
<![CDATA[This study investigates the impact of leadership style and job satisfaction on employee performance within the General Section of the Regional Secretariat of the Serdang Bedagai Regency. Multiple linear regression analysis was employed to examine the relationships between variables using questionnaires, interviews, and literature reviews for data collection. The findings reveal that leadership style in a department is categorized as high or good, significantly influencing employee performance. It aligns with the theoretical expectation that appropriate leadership is crucial for enhancing employee performance, particularly when performance declines. Surprisingly, contrary to expectations, job satisfaction was classified as low and did not significantly affect employee performance. The study concludes that leadership style and job satisfaction are well received in the General Section, as evidenced by their highly descriptive classification. These factors collectively and simultaneously influence employees’ performance. This research recommends addressing and fulfilling employees’ needs to improve job satisfaction and potentially impact performance. This study contributes to understanding Human Resource Management practices in a specific organizational context by highlighting the importance of effective leadership and the need for strategies to enhance job satisfaction. These findings provide valuable insights for managers and policymakers in developing targeted interventions to improve employee performance in similar organizational settings.]]>
<![CDATA[Investigating the Effect of Job Motivation on Employee Work Quality at Honda Workshop: The Mediating Role of Dominion Power ]]>
<![CDATA[Damanik, Sri Winda Hardiyanti]]>;
<![CDATA[Sinurat, Mangasi]]>;
<![CDATA[Siahaan, Rumiris]]>;
<![CDATA[Purba, Rakhmawati]]>;
<![CDATA[Jayadi, Usman]]>;
<![CDATA[Ilham, Rico Nur]]>;
<![CDATA[Riinawati, Riinawati]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 2 No. 1 (2024): May 2024 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v2i1.49
<![CDATA[Performance is vital for organizational success, and employee work quality is essential. A decline in individual or group performance can significantly affect a company's effectiveness. This study, conducted at the Honda Sei Rampah Dealer beginning in July 2020, used quantitative data analysis to investigate the independent variables of dominion power image and employee work quality, with dominion power as the dependent variable. The study involved 45 employees (43 males and 2 females, aged 18–29, both single and married). Validity testing was performed using SPSS version 17.00, based on the calculated r values. Partial hypothesis testing assesses the impact of each independent variable on the dependent variable. The findings indicated a significant relationship between job motivation and employee work quality and that dominion power had a notable effect on employee quality. Future research should explore dominion power among employees, especially their resilience in challenging work environments, through encouragement initiatives. Examining colleagues’ relationships and implementing stricter regulations to enhance compliance and obedience may also be beneficial. To better understand the complexities of dominion power and its impact on organizations, future studies should incorporate more variables that could lead to improved organizational performance and effectiveness.]]>
<![CDATA[Psychological Factors and Higher Branded Price to Purchase Decision of MS Glow Skin Care ]]>
<![CDATA[Jayanti, Suci Etri]]>;
<![CDATA[Rusmewahni, Rusmewahni]]>;
<![CDATA[Siahaan, Rumiris]]>;
<![CDATA[Sinurat, Mangasi]]>;
<![CDATA[Ilham, Rico Nur]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 2 No. 1 (2024): May 2024 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v2i1.50
<![CDATA[The beauty industry has evolved, with skincare becoming crucial for women. It protects against environmental factors and prevents issues caused by make-up. The Indonesian skincare market is growing, reflecting the increasing importance of skin health. This study investigates the influence of lifestyle, psychological factors, and pricing on MS Glow skincare product-purchasing decisions among students at the University of North Sumatra's Faculty of Education. Using primary data from 100 respondents, multiple linear regression analysis was employed to examine the relationships between the independent variables (lifestyle, psychological factors, and price) and the dependent (purchase decision) variables. This research aims to understand consumer behavior in skincare product acquisition, focusing on MS Glow. Contrary to expectations, price does not significantly influence purchase decisions. However, lifestyle and psychological factors play substantial roles, exhibiting positive and statistically significant relationships with the dependent variable. These findings challenge conventional wisdom about the importance of pricing in student consumer decision-making and highlight the need for lifestyle-oriented and psychologically driven marketing approaches in the skincare industry. This study contributes valuable insights into university students' decision-making processes for personal care products, enhancing the understanding of consumer behaviour in this demographic.]]>
<![CDATA[The Effect of Workload and Wage Levels on Job Satisfaction of Honorary Employees with Motivation as a Mediation ]]>
<![CDATA[Suwadi, Suwadi]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 2 No. 1 (2024): May 2024 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v2i1.51
<![CDATA[Honorary staff members represent a significant component of Indonesia's current human resources, serving as an alternative workforce to support the performance of civil servants. Their presence is intended to address certain organizational needs. Job satisfaction is considered a crucial factor as it can impact organizational operations. It refers to employees’ supportive or unsupportive feelings towards their work or working conditions. This study investigated the influence of workload and wage levels on temporary employees' motivation and job satisfaction. The research employed quantitative methods utilizing Smart Partial Least Square (PLS) software version 3. The analysis comprises two sub-models: a measurement model (external model) and a structural model (internal model). A total of 94 respondents were selected using convenience sampling techniques. The findings revealed that workload significantly affects job satisfaction, mediated by motivation. Similarly, wage levels significantly impacted job satisfaction, with motivation as a mediating factor.]]>
<![CDATA[Developing Customer Satisfaction Strategies for Oke Jek Tebing Tinggi Online Transportation Users during COVID-19 ]]>
<![CDATA[Sagala, Yomeini Margareth]]>;
<![CDATA[Islamiarti, Dian]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 2 No. 1 (2024): May 2024 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v2i1.52
<![CDATA[This study investigated the optimal development strategy for Oke Jek, an online transportation service in Tebing Tinggi, to enhance customer satisfaction during the COVID-19 pandemic. Oke Jek, which commenced operations in 2019, faces unique challenges in maintaining customer satisfaction while prioritizing safety and user experience. The research employed a qualitative approach, utilizing primary and secondary data collected through interviews, observations, and documentation from seven respondents. The theoretical framework is supported by development, marketing, and customer satisfaction theories. This study utilizes SWOT analysis to examine the internal (IFE) and external (EFE) environments. The IFE matrix, which evaluates strengths and weaknesses, yielded a score of 1.45, while the EFE matrix, which assesses opportunities and threats, produced a score of 1.15. These results position Oke Jek in Quadrant I, indicating an Aggressive Strategy as the most appropriate approach. On the basis of SWOT analysis, four alternative strategies were identified: Strengths-Opportunities (SO), Weaknesses-Opportunities (WO), Strengths-Threats (ST), and Weaknesses-Threats (WT). The findings suggest that, to enhance customer satisfaction, Oke Jek should implement a comprehensive strategy focusing on safety measures, effective communication of health protocols, and improved application functionality for streamlined bookings and payments. This approach aimed to address the unique challenges posed by the COVID-19 pandemic while maintaining a competitive advantage in the online transportation market.]]>
<![CDATA[The Role of Employee Engagement, Leadership, and Work Discipline in Enhancing Employee Performance ]]>
<![CDATA[Mas Agung Tribratha Poernomo]]>;
<![CDATA[Joko Suyono]]>;
<![CDATA[Damarsari Ratnasahara Elisabeth]]>;
<![CDATA[Aldrin Arizona Suyono]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 3 No. 1 (2025): May 2025 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v3i1.97
<![CDATA[Employee performance is a crucial determinant of organizational effectiveness, particularly in public service institutions, where service quality depends heavily on employees' productivity and commitment. However, many organizations still face challenges maintaining high employee performance due to factors such as low employee engagement, ineffective leadership, and weak work discipline. This study aims to analyze the influence of employee engagement, leadership, and work discipline on employee performance. The research employed a quantitative, descriptive–explanatory design. The study was conducted at the Licin Community Health Center (PUSKESMAS) Licin in Banyuwangi, Indonesia, and involved all 51 employees as respondents, using a total sampling technique. Data were collected through a structured questionnaire using a five-point Likert scale and analyzed using multiple linear regression in SPSS version 23. The results indicate that employee engagement, leadership, and work discipline each have a positive and significant effect on employee performance. Among the three variables, work discipline shows the strongest influence on employee performance, followed by leadership and employee engagement. These findings suggest that improving employee performance requires strengthening employee discipline, enhancing leadership effectiveness, and fostering greater employee engagement. Overall, the study highlights the importance of integrating organizational and behavioral factors to improve employee productivity and achieve sustainable organizational performance.]]>
<![CDATA[Innovation Constraints in Traditional Firms in Emerging Markets: A Qualitative Analysis ]]>
<![CDATA[Estuti Fitri Hartini]]>;
<![CDATA[Anaiza Azlia]]>;
<![CDATA[Lusiana Ratna Primata]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 3 No. 1 (2025): May 2025 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v3i1.98
<![CDATA[Innovation plays a crucial role in sustaining competitiveness within traditional-based industries, particularly in sectors undergoing technological and market transformation. However, many traditional firms still face structural and strategic challenges in developing sustainable innovation capabilities. This study aims to analyze the constraints on innovation experienced by PT. X, an Indonesian herbal medicine and pharmaceutical company, aims to identify strategic implications for improving its long-term innovation performance. The research adopts a qualitative, descriptive–exploratory design using secondary data sources, including corporate documents and relevant scientific literature. Data were analyzed using thematic analysis in NVIVO to systematically identify patterns and relationships among key innovation issues. The analysis revealed four main themes influencing the company’s innovation performance: weaknesses in product innovation, limitations in diversification and business structure, efficiency and financial constraints, and dependence on external factors such as natural raw materials and limited international market expansion. The findings indicate that the company’s innovation strategy remains largely focused on incremental product improvements, while limited business diversification and suboptimal resource utilization limit opportunities for research-driven innovation and technological development. In addition, dependence on agricultural raw materials and domestic market conditions further complicates the innovation process. The study concludes that innovation challenges within traditional-based firms are multidimensional and require an integrated strategic approach that strengthens research and development, improves operational efficiency, diversifies business portfolios, and enhances supply chain and international market strategies. These findings contribute to understanding innovation dynamics in traditional industries and provide practical insights for developing sustainable innovation strategies in emerging markets.]]>
<![CDATA[Operational Risk and Profitability of Indonesian Islamic Banks: Examining the Mediating Role of Financial Intermediation ]]>
<![CDATA[Hepy Octalia Elfa Kolina]]>;
<![CDATA[Agus Sukoco]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 3 No. 1 (2025): May 2025 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v3i1.99
<![CDATA[The rapid growth of Islamic banking in Indonesia has increased the importance of understanding the factors that influence bank profitability and financial sustainability. Despite significant expansion in assets, financing, and third-party funding, Islamic banks continue to face challenges in operational efficiency, financing risk, and liquidity management. This study aims to examine the influence of operational efficiency and financing risk on the profitability of Islamic commercial banks in Indonesia, with financial intermediation acting as a mediating variable. Specifically, the research analyzes the effects of Operating Expenses to Operating Income (BOPO) and Non-Performing Financing (NPF) on profitability measured by Return on Assets (ROA), while Financing to Deposit Ratio (FDR) is tested as an intervening variable. The study adopts a quantitative explanatory research design, using secondary data from the annual financial statements of Islamic commercial banks registered with the Financial Services Authority (OJK) for the 2014–2024 period. The data are analyzed using the Structural Equation Model (SEM) to evaluate both direct and indirect relationships among variables. The results show that BOPO has a negative and significant effect on ROA, indicating that operational inefficiency reduces bank profitability. FDR has a positive and significant effect on profitability, confirming the important role of financial intermediation in improving bank performance. In contrast, NPF does not directly affect profitability but does significantly affect financial intermediation. The mediation analysis reveals that FDR does not mediate the relationship between BOPO and ROA but significantly mediates the relationship between NPF and ROA. These findings highlight the critical importance of operational efficiency and effective financing distribution in improving Islamic bank profitability, while also emphasizing the indirect role of financing risk through the financial intermediation mechanism.]]>
<![CDATA[Digital-Driven Sustainable Innovation in Local Apparel Firms: A Case Study of PT. Tactical Outdoor ]]>
<![CDATA[Ritus Ramadhana]]>;
<![CDATA[Sony Sandra]]>;
<![CDATA[Agus Mulyadi]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 3 No. 1 (2025): May 2025 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v3i1.100
<![CDATA[The rapid digital transformation of the fashion industry and increasing environmental concerns have encouraged apparel companies to adopt sustainable innovation strategies to remain competitive. However, most studies on digital innovation and sustainability in the fashion sector focus on large multinational corporations, while empirical evidence from local creative industry firms in developing countries remains limited. This study aims to analyze sustainable innovation management practices in a digitally driven local apparel company, PT Tactical Outdoor, in Bandung, Indonesia. Specifically, the research explores how the company integrates market-based innovation, digital technology utilization, and leadership practices to support sustainable business development. The study employs a qualitative case study approach, with data collected through purposive in-depth interviews with the company owner and key staff members involved in innovation decision-making, technology management, and product development, conducted on January 6, 2025. Additional supporting data were obtained from company documentation, social media platforms, and relevant academic literature. The data were analyzed using thematic coding in NVIVO, complemented by SWOT and TOWS strategic analyses. The findings reveal that PT Tactical Outdoor manages innovation through three interconnected elements: market-based innovation, technology, and innovative leadership. Market intelligence derived from social media analytics, e-commerce data, and community engagement enables the company to identify emerging consumer needs and develop relevant products. Digital technologies such as ERP systems, digital design tools, and e-commerce platforms accelerate product development and support data-driven decision-making. Leadership plays a crucial role in fostering a culture of experimentation, collaboration, and sustainability within the organization. The study concludes that even small or local apparel firms can successfully implement sustainable innovation management when supported by digital technology, collaborative ecosystems, and adaptive leadership. These findings contribute to the literature by providing empirical insights into how digitally oriented local fashion brands can integrate innovation, sustainability, and digital transformation to achieve long-term competitiveness.]]>
<![CDATA[Knowledge Management and Talent Management as Drivers of Employee Performance: The Mediating Role of Job Satisfaction ]]>
<![CDATA[Dyah Yuni Wulandari]]>;
<![CDATA[Joko Suyono]]>;
<![CDATA[Eman Setiawan]]>
<![CDATA[ International Journal of Business, Economics & Financial Studies Vol. 3 No. 1 (2025): May 2025 ]]>
Publisher : <![CDATA[Indonesia Academia Research Society ]]>
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DOI: 10.62157/ijbefs.v3i1.101
<![CDATA[Employee performance is a critical factor influencing organizational competitiveness, particularly in manufacturing industries that require efficient knowledge utilization and skilled human resources. However, many organizations still face challenges in effectively managing organizational knowledge and employee talent, which may affect employee satisfaction and performance outcomes. This study aims to examine the influence of knowledge management and talent management on employee performance, with job satisfaction acting as a mediating variable. A quantitative explanatory research design was applied using a cross-sectional approach. The study was conducted in a plastic pallet manufacturing company in Sidoarjo, Indonesia, involving all 36 employees in the production department as respondents through a saturated sampling technique. Data were collected using structured questionnaires measured on a five-point Likert scale and analyzed using Structural Equation Modeling based on Partial Least Squares (SEM-PLS) with SmartPLS 4.0. The results indicate that knowledge management and talent management both have positive and significant effects on employee performance. Additionally, knowledge management and talent management significantly influence job satisfaction, while job satisfaction itself positively affects employee performance. The mediation analysis further reveals that job satisfaction partially mediates the relationship between knowledge management and employee performance as well as between talent management and employee performance. These findings highlight the importance of integrating knowledge management and talent management practices with initiatives that enhance employee satisfaction in order to improve employee performance. The study contributes to the human resource management literature by providing empirical evidence from the manufacturing sector and offers practical implications for organizations seeking to strengthen employee performance through effective knowledge and talent management strategies.]]>
