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Advances in Economics & Financial Studies
Published by Yayasan Pendidikan Bukhari Dwi Muslim
ISSN : -     EISSN : 29857562     DOI : https://doi.org/10.60079/aefs
Core Subject : Economy,
Economics, Econometrics & Finance
Founded in 2023, Advances in Economics & Financial Studies publishes original research that promises to advance our understanding of Economics & Financial Studies over diverse topics and research methods. This Journal welcomes research of significance across a wide range of primary and applied research methods, including analytical, archival, experimental, survey and case study. The journal encourages articles of current interest to scholars with high practical relevance for organizations or the larger society. We encourage our researchers to look for new solutions to or new ways of thinking about practices and problems and invite well-founded critical perspectives. We provide a forum for communicating impactful research between professionals and academics in Economics & Financial Studies research and practice with discusses and proposes solutions and impact the field. Advances in Economics & Financial Studies addresses a broad range of issues within the fields of finance and economics. Research involving financial institutions, financial policy, control issues for firms, central bank policy, risk and uncertainty, and the economics and financial dimensions of market and non-market phenomena, as well as more specialized topics, all fall within its purview.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 59 Documents
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The Effect of Service Quality and Brand Image on Revisit Intention at The Premiere Hotel Pekanbaru Reza Mayrah Wati; Kurnia Illahi Manvi; Iqbal Harifal
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.1009

Abstract

Purpose: This study examines the influence of service quality and brand image on guests’ revisit intention at The Premiere Hotel Pekanbaru amid fluctuating repeat guest rates, increasing hotel competition, and complaints concerning service, facilities, and guest experience. Research Method: A quantitative causal-associative design was employed. The population comprised 12,680 repeat guests who stayed at the hotel from January to December 2025. Using the Slovin formula, 100 respondents were selected through purposive sampling. Data were collected through structured questionnaires using a five-point Likert scale and analyzed with descriptive statistics, classical assumption tests, and multiple linear regression. Results and Discussion: Service quality and brand image each have a positive and significant effect on revisit intention. Simultaneously, both variables significantly influence revisit intention and explain 89.3% of its variance (R² = 0.893). These findings confirm that improved service quality and a stronger brand image encourage guests to revisit the hotel. Implications: Hotel management should improve employee responsiveness, reliability, assurance, empathy, physical facilities, service consistency, and marketing effectiveness to strengthen guest trust, satisfaction, and intention to revisit. Originality: This study provides empirical evidence from repeat guests of a four-star hotel in Pekanbaru and offers practical insights into strengthening revisit intention through service quality and brand image.
Factors Influencing Accounting Students’ Interest in Pursuing a Career as an Internal Auditor Hustianto Sudarwadi; Anglin Devita Risqiyawati; Marlina Malino
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.996

Abstract

Purpose: This study aims to analyze the relationship between financial compensation, labor market considerations, work environment, professional training, social values, and the interest of accounting students at the University of Papua in pursuing a career as an internal auditor. Research Method: The study used a quantitative cross-sectional survey of 163 college students selected through simple random sampling. Data were collected using a Likert-scale questionnaire and analyzed using multiple linear regression with SPSS. Results and Discussion: Labor market considerations and professional training are positively and significantly associated with career interest. Financial rewards, work environment, and social values show a positive trend, but the statistical evidence is not yet sufficient. The findings are interpreted as statistical associations, not causality. Implications: The program needs to strengthen its labor market information, audit training, internships, and practitioner involvement. Future research should improve construct validity and expand the sample size. Originality: The study provides contextual evidence regarding the career attributes associated with the interest of students at the University of Papua in the internal auditor profession.
Return on Assets, Debt-to-Equity Ratio, and Current Ratio on Firm Value with Firm Size as a Moderating Variable in Industrial Sector Companies Listed on the Indonesia Stock Exchange Anti Hastuti UMP; Fuad Ramdhan Ryanto
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.1000

Abstract

Purpose: This study examines the associations of Return on Assets (ROA), Debt-to-Equity Ratio (DER), and Current Ratio (CR) with firm value and evaluates whether firm size moderates these relationships among Indonesian industrial companies. Research Method: The study uses a quantitative short-panel design comprising 110 firm-year observations from 55 industrial companies listed on the Indonesia Stock Exchange during 2023–2024. Firm value is measured using Price-to-Book Value. The revised analysis requires panel regression with centered interaction terms, firm and year effects, relevant controls, influence diagnostics, sensitivity analysis, and firm-clustered robust standard errors. Results and Discussion: Preliminary ordinary-regression estimates indicate positive associations of ROA, DER, and CR with firm value but provide no evidence that firm size moderates these relationships. These findings remain subject to confirmation using the revised panel specification. Implications: Managers should improve asset efficiency, maintain sustainable leverage, and manage liquidity productively. Investors should assess financial quality and risk rather than relying solely on corporate scale. Originality: The study evaluates firm size as a boundary condition linking financial ratios to the market valuation of Indonesian industrial companies.
The Effects of Regional Own-Source Revenue and General Allocation Fund on Economic Growth: Evidence from Spatial Panel Regression in North Kalimantan Province, Indonesia Asih Kusuma Wijayanti; Anwar Anwar; Budi Hasyim
Advances in Economics & Financial Studies Vol. 4 No. 1 (2026): October - January
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i1.1037

Abstract

Purpose: This study examines variations in Regional Own-Source Revenue (PAD), the General Allocation Fund (DAU), and economic growth across North Kalimantan’s five local governments during 2014–2023. Research Method: The study uses an observational panel-data design based on 50 local-government-year observations obtained from Statistics Indonesia and the Directorate General of Fiscal Balance. Descriptive analysis and the Pesaran cross-sectional dependence test were applied. Spatial panel estimation was excluded because the five-unit cross-sectional dimension was insufficient for stable spatial parameters and the original weights matrix could not be reproduced. Results and Discussion: Economic growth and fiscal capacity varied substantially across jurisdictions and years. The Pesaran CD statistic was 9.215 (p<0.001), indicating general residual dependence, but not geographically structured spatial dependence. Accordingly, no reliable spatial or causal conclusion regarding PAD and DAU was retained. Implications: Fiscal policy should consider regional heterogeneity, revenue composition, transfer dependence, and common economic shocks. Broader samples and explicit endogeneity strategies are required for confirmatory analysis. Originality: The study provides context-specific fiscal evidence from Indonesia’s newest border province while clarifying the distinction between cross-sectional and spatial dependence.
The Impact of Economic Growth, Industrialization, and Population on CO₂ Emissions in ASEAN Adhy Satya Pratama; Deni Marsha; Aswan Aswan; Kasnawati Kasnawati
Advances in Economics & Financial Studies Vol. 4 No. 1 (2026): October - January
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i1.1045

Abstract

Purpose: This study examines the effects of economic growth, industrial value added, and population on carbon dioxide emissions in five ASEAN countries and tests the proposed relationships among these variables. Research Method: A quantitative panel-data design was applied to Indonesia, Malaysia, the Philippines, Thailand, and Vietnam during 2015–2024, producing 50 observations. Data were obtained from international databases and analyzed using panel-data regression. The Chow and Hausman tests selected the Fixed Effect Model, supported by normality, heteroscedasticity, and multicollinearity tests. Results and Discussion: Industrial value added positively and significantly affects carbon emissions, with a coefficient of 0.8179 and a p-value of 0.0000. Population also has a positive and significant effect, with a coefficient of 1.5385 and a p-value of 0.0014. Economic growth has no significant effect. The model explains 98.62% of the variation in carbon emissions. These findings show that industrialization and population growth are the main emission drivers in the selected ASEAN countries. Implications: ASEAN governments should promote industrial decarbonization, renewable energy, clean technology, sustainable urban planning, and country-specific environmental policies. Originality: This study provides recent comparative evidence by accounting for country-specific heterogeneity through the Fixed Effect Model.
Improving the Quality of Financial Reports through Human Resources, Information Technology, Internal Controls, the Implementation of Government Accounting Standards, and Leadership Style: (Case Study on Regional Apparatus Organization of West Papua Province) Syarifuddin Syarifuddin; Marlina Malino; Stevanie Lusye Sahertian; Muhammad Arif Wiratama Fattah; Christine S.M. Marpaung; Yubelina Mamoribo
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.1056

Abstract

Purpose: This study investigates the influence of human resource competency, information technology utilization, internal control systems, Government Accounting Standards implementation, and leadership style on the quality of financial reporting in Regional Apparatus Organizations of West Papua Province. Research Method: This study employed a quantitative descriptive design using primary data collected through structured questionnaires. Responses were measured using a five-point Likert scale ranging from strongly disagree to agree strongly. The data were converted into numerical values and analyzed using multiple linear regression to examine the relationships between the independent variables and financial reporting quality. Results and Discussion: The study involved 46 Regional Apparatus Organizations, with a total population of 184 respondents. The findings indicate that human resource competency, internal control systems, and Government Accounting Standards implementation positively affect financial reporting quality. However, information technology utilization and leadership style do not significantly affect the quality of financial reporting in West Papua Province. Implications: These findings provide empirical insights for policymakers and government institutions, particularly Regional Apparatus Organizations, in evaluating and improving government financial reporting quality. Originality: This study enriches the literature by providing empirical evidence regarding factors influencing government financial reporting quality in West Papua Province.
Business Tradition: Qualitative Assessment on The Economic Commodification of Larung Sesaji Ritual for Local MSMEs Paramita Kartika Sari; Mariatus Sholikah
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.979

Abstract

Purpose: This study aims to examine the economic commodification of the Larung Sesaji ritual and its contribution to the development of local micro, small, and medium enterprises (MSMEs) at Kenjeran Beach, Surabaya. It also explores how local communities balance cultural preservation with economic interests in tourism development. Research Method: This study employed a qualitative business ethnography approach. Data were collected through observations, interviews, documentation, and field notes involving key stakeholders and analyzed using an interactive data analysis model. Results and Discussion: The findings indicate that the Larung Sesaji ritual serves not only as a sacred cultural tradition but also as an economic catalyst that stimulates local entrepreneurship through culinary businesses, handicrafts, souvenir production, and tourism services. Cultural commodification does not necessarily reduce ritual authenticity when local communities maintain control over cultural representation and decision-making. Community-Based Tourism enhances participation, strengthens local economic resilience, and supports sustainable destination management. Implications: The findings provide practical guidance for policymakers and tourism stakeholders in designing inclusive and culturally sustainable tourism strategies while supporting MSME development and community welfare. Originality: This study integrates business ethnography, cultural commodification, and Community-Based Tourism to explain cultural heritage as a sustainable economic resource.
Analysis of the Implementation of Green Banking Concepts in the Operations of Bank Aceh Syariah (Sisingamaraja Medan Branch) in Support of Sustainable Finance Afni Haryanti Harahap; Fauzi Arif Lubis; Tuti Anggraini
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.999

Abstract

Purpose: This study examines green banking implementation in the operations and financing processes of Bank Aceh Syariah, Sisingamangaraja Medan Branch, and its potential relationship with sustainable finance. Research Method: A qualitative descriptive-analytical case-study design was applied. Data were obtained through in-depth interviews with purposively selected branch employees and analyzed through reduction, coding, categorization, and evidence comparison using six Green Coin Rating indicators as a qualitative framework. Results and Discussion: Paperless operations were partially implemented through mobile banking, while electricity-saving routines represented resource conservation rather than verified carbon-emissions management. Formal green rewards, green-building standards, and reuse, recycling, and refurbishment were not demonstrated. Environmental documentation and financing restrictions indicated environmental risk screening but did not establish an active green-investment portfolio. Consequently, measurable contributions to sustainable finance could not be confirmed. Implications: The branch should establish resource-consumption baselines, formal environmental policies, circular waste procedures, green-financing criteria, and portfolio monitoring. Originality: This study provides a branch-level Islamic banking assessment that distinguishes operational efficiency, environmental screening, and active green financing while avoiding unsupported sustainability claims.
Determinants of Academic Achievement Among Islamic Boarding School Students: An Exploration of the Organizational Environment and External Stakeholder Support Aliyatul Muna; Sisno Riyoko; Anna Widiastuti
Advances in Economics & Financial Studies Vol. 4 No. 3 (2026): June - September
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i3.1039

Abstract

Purpose: This study aims to examine the effects of the Islamic boarding school environment and parental support on students' academic achievement, as well as the mediating roles of spiritual intelligence and learning motivation. Research Method: This study adopted a quantitative explanatory design. A total of 165 students were selected from a population of 280 using the Slovin formula and purposive sampling. Data were collected through a 10-point Likert-scale questionnaire and academic records, then analyzed using PLS-SEM with SmartPLS 4, including mediation analysis based on the Variance Accounted For (VAF) approach. Results and Discussion: The findings reveal that the Islamic boarding school environment has a positive and significant effect on academic achievement, spiritual intelligence, and learning motivation. Parental support has no significant direct effect on academic achievement but positively influences spiritual intelligence and learning motivation. Both spiritual intelligence and learning motivation significantly enhance academic achievement and mediate the relationship between external factors and academic achievement. Implications: The findings emphasize the need to strengthen the boarding school environment and promote students' spiritual intelligence and learning motivation through collaboration between schools and parents. Originality: This study develops an integrated mediation model combining environmental, family, and psychological factors to explain academic achievement in an Islamic boarding school context.

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