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Grimsa Journal of Business and Economics Studies
Published by PT. Graha Primera Saintifika
ISSN : -     EISSN : 30320534     DOI : https://doi.org/10.61975/gjbes
Core Subject : Economy, Science, Social,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Environmental Science Social Sciences
Grimsa Journal of Business and Economics Studies aims to provide a platform for researchers, scholars, and professionals to share their innovative ideas, findings, and insights in the following areas: Economic Theory and Analysis, Business Management and Strategy, Finance and Investment, Marketing and Consumer Behavior, Entrepreneurship and Innovation, International Business and Trade, Economic Development and Policy, Sustainable Business Practices, Data Analytics and Business Intelligence, Labor Economics and Human Resources, Financial Technology, Business Ethics and Corporate Governance
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 23 Documents
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Understanding E-Money Preferences Among Students: A Case Study at FEBI UIN Ar-Raniry, Banda Aceh, Indonesia Muksalmina Muksalmina; Israk Ahmadsyah; Azimah Dianah
Grimsa Journal of Business and Economics Studies Vol. 1 No. 1 (2024): January 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i1.11

Abstract

As digital financial transactions continue to gain traction globally, understanding the factors that influence the adoption of electronic money (e-money) is crucial. This research paper delves into the behavioral aspects behind the use of e-money within a specific academic community. In a quantitative study carried out at Ar-Raniry State Islamic University's Faculty of Islamic Economics and Business (FEBI), we investigated the impact of utility, convenience, and security on students' interest in selecting e-money as their preferred payment method. The randomized sample of 97 students represented the faculty's diverse population. Our findings emphasize the critical roles of utility and convenience in shaping students' interest in e-money adoption, with attributes like speed, efficiency, and practicality significantly driving their embrace of electronic payment solutions. The research underscores the importance of designing e-money systems that prioritize utility and convenience to attract users, particularly in educational settings, while also providing insights for policymakers and financial institutions seeking to promote digital financial inclusion.
Statistical Assessment of Human Development Index Variations and Their Correlates: A Case Study of Aceh Province, Indonesia Novi Reandy Sasmita; Rahmatil Adha Phonna; Mumtaz Kemal Fikri; Mhd Khairul; Feby Apriliansyah; Ghalieb Mutig Idroes; Ayu Puspitasari; Fachri Eka Saputra
Grimsa Journal of Business and Economics Studies Vol. 1 No. 1 (2024): January 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i1.14

Abstract

The Human Development Index (HDI) provides a holistic measure of human development in a country or locality. This study aims to identify factors correlated with changes in the Human Development Index and analyze changes in the distribution of the Human Development Index in Aceh Province from 2012 to 2022. Apart from the Human Development Index as the variable used in this study, five variables are used in this study as indicators: Life Expectancy, Gross Regional Domestic Product (GRDP), Per Capita Expenditure, Average Years of Schooling, and Expected Years of Schooling as socioeconomic factors. This research uses an ecological study design. Data was sourced from the "Aceh in Figures" report by the Central Bureau of Statistics of Aceh Province. The statistical methods used were descriptive statistics, the Shapiro-Wilk test for normality, the Spearman test for correlation analysis, the Wilcoxon one-sample test for data distribution, and the Kruskal-Wallis test to compare distributions. Based on the correlation analysis, the study revealed that the five socioeconomic variables tested showed a significant positive correlation with changes in the HDI in Aceh Province (p-value < 0.05). In addition, the difference analysis showed a significantly different distribution of HDI across the years studied (p-value < 0.05), with a pattern of increasing HDI observed from the beginning to the end of the study period. The recommended based on finding of the study is policymakers and stakeholders focus on strategies that enhance the positive correlates identified Finally, these results provide important and structured insights into the role of factors in HDI change.
Examining the Static and Dynamic Relationship Between Policy Rates and Stock Prices: A Panel Data Analysis Natasha Athira Keisha Hardia; Gebrina Rezeki
Grimsa Journal of Business and Economics Studies Vol. 1 No. 1 (2024): January 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i1.16

Abstract

This study aims to examine the impact of the central bank’s interest rate on the stock price of the top five largest capitalization companies in Indonesia from January 2009 to December 2022. The research method employs both static and dynamic approaches, including Ordinary Least Squares (OLS), Robust Least Squares (RLS), Dynamic Ordinary Least Squares (DOLS), and Fully-Modified Ordinary Least Squares (FMOLS) methods. The results of econometric estimation align with the theory and this study's hypothesis, indicating that the increase of the central bank's interest rate negatively impacts company stock prices, especially in the long term. This valuable empirical evidence suggests that investors with a long-term perspective may need to reassess their portfolios in light of anticipated changes in monetary policy. Proactively monitoring these developments can help companies and investors make timely and well-informed decisions.
The Nexus Between Democracy, Human Development, and Economic Growth: A Provincial Analysis Edi Saputra Ringga; Vivi Silvia
Grimsa Journal of Business and Economics Studies Vol. 1 No. 1 (2024): January 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i1.20

Abstract

This study aims to investigate the impact of democracy and human development on the economic growth of Aceh Province, Indonesia, especially from a long-term perspective during the period 2010-2020. It employs both static and dynamic approaches, such as Robust Least Squares (RLS), Dynamic OLS (DOLS), Fully-Modified OLS (FMOLS), and Canonical Cointegration Regressions (CCR). This study uses two gross regional domestic products (GRDP) as a proxy for economic growth, namely GRDP migas (referred to as GRDP with the oil and gas sector included) and GRDP nonmigas (referred to as GRDP without the oil and gas sector included). Econometric results indicate that human development has a significant positive impact on economic growth, especially in the long term. Furthermore, the level of democracy also significantly affects economic growth positively. However, this indication is observed in the context where the province’s economic growth is not dependent on natural resources as the primary driver. This study suggests that it is imperative to formulate strategic policies that prioritize human development in education, healthcare, and living standards. This approach aims to foster sustained economic prosperity while also strengthening democratic institutions and promoting good governance. Such efforts are crucial to ensure a stable and conducive environment for provinces to achieve long-term economic development.
Exploring Indonesia's CO2 Emissions: The Impact of Agriculture, Economic Growth, Capital and Labor Putri Maulidar; Fitriyani Fitriyani; Novi Reandy Sasmita; Irsan Hardi; Ghalieb Mutig Idroes
Grimsa Journal of Business and Economics Studies Vol. 1 No. 1 (2024): January 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i1.22

Abstract

This study examines the dynamic impact of agriculture, economic growth, capital, and labor on carbon dioxide (CO2) emissions in Indonesia from 1990-2022. Employing the Autoregressive Distributed Lag (ARDL) method, the findings indicate that agriculture plays a substantial role in decreasing CO2 emissions in the short and long run. Additionally, a consistent positive correlation exists between economic growth and CO2 emissions, underscoring the difficulty in decoupling economic progress from its environmental repercussions. Capital formation, on the other hand, exerts a noteworthy negative influence on CO2 emissions, particularly in the long run, implying that increased investment in capital formation, potentially in environmentally friendly technologies, could contribute to a gradual reduction in emissions. However, the expanding labor is identified as a significant driver of CO2 emissions, particularly in the long run. Highlighting the challenges associated with mitigating the environmental impact of workforce growth. Furthermore, the Granger causality results indicate unidirectional causality from CO2 emissions and labor to agriculture, from agriculture to economic growth and capital formation, and from economic growth to capital formation. Therefore, promoting sustainable agriculture, aligning economic growth with green technologies, incentivizing eco-friendly investment, integrating comprehensive planning, and maintaining flexible policies are crucial for Indonesia's effective environmental and economic management.
Impact of Oil and Gas vs. Non-Oil and Gas Exports on Provincial Economic Growth: A Panel Data Analysis Afliana, Mona; Zulham, Teuku; Suriani, Suriani; Miksalmina, Miksalmina
Grimsa Journal of Business and Economics Studies Vol. 1 No. 2 (2024): July 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i2.24

Abstract

Economic growth in Aceh Province, Indonesia, is expected to fluctuate due to the unstable growth rates of both oil and gas and non-oil and gas exports. This study aims to investigate the impact of these exports on economic growth in Aceh Province. Utilizing secondary data from the Statistics of Aceh Province (BPS Aceh), the study employed the panel regression method, specifically the random effect model, analyzing data from 23 districts/cities in Aceh Province over the period 2011-2022. Estimation results indicate that oil and gas export growth have a negative effect, while non-oil and gas export growth exerts a positive effect on economic growth in Aceh Province, both of which show robust statistical significance. Based on these empirical findings, it is suggested that there should be cooperation between the government and investors in Aceh Province to maximize the processing of oil and gas commodities for export, as well as to improve the quality of non-oil and gas commodities exported so that, in the future, the demand for non-oil and gas exports can remain stable, fostering sustainable provincial economic growth.
Provincial Evidence: Long-Run Impact of Human Development Indicators on Poverty Gap and Severity Ringga, Edi Saputra
Grimsa Journal of Business and Economics Studies Vol. 1 No. 2 (2024): July 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i2.26

Abstract

This study aims to fill the identified gap by examining the long-run impact of human development indicators on the poverty gap and severity index in Aceh Province, Indonesia. Utilizing data from the period 2010-2022 and various methodologies such as Fully-Modified OLS (FMOLS), Dynamic OLS (DOLS), and Canonical Cointegration Regressions (CCR), the econometric results indicate that three out of four human development indicators—spending per capita, expected years of schooling, and mean years of schooling—significantly impact poverty gap and severity. However, it was found that the relationships are positive, which means that an increase in human development level worsens poverty. This empirical evidence suggests that human development indicators in Aceh Province have yet to be optimized for successful poverty alleviation. Therefore, policy recommendations for policymakers should focus on bolstering education accessibility, promoting economic empowerment initiatives, and enhancing the effectiveness of existing poverty alleviation programs in Aceh Province.
The Role of Corruption, FDI, and Unemployment in ASEAN-5 Economic Growth Husna, Putri Amalia; Nasir, Muhammad
Grimsa Journal of Business and Economics Studies Vol. 1 No. 2 (2024): July 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i2.28

Abstract

Corruption is a global issue that remains unresolved to this day. It can lead to a decrease in investment and inefficiency in government spending allocation, impacting economic growth. Therefore, controlling corruption is a crucial issue that cannot be underestimated. This study uses panel data from 2012 to 2022 in ASEAN-5 countries (Indonesia, Malaysia, Vietnam, Laos, and Thailand). The method used is panel data regression with a fixed-effect model (FEM). The results indicate that foreign direct investment (FDI) has a significant positive effect on economic growth, while the corruption perception index and unemployment have no significant impact in the ASEAN-5 countries. This study suggests that promoting FDI is key to ASEAN-5's economic growth. Additionally, addressing corruption and unemployment through governance and labor market reforms is also crucial for sustainable development in the region.
The Effect of Food Price Fluctuations on the Poverty Rate in Aceh Province, Indonesia Yavishan, Muhammad; Zulham, Teuku; Suriani, Suriani
Grimsa Journal of Business and Economics Studies Vol. 1 No. 2 (2024): July 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i2.34

Abstract

The government continues to address poverty through various policies including food security initiatives, but the poverty rate in Aceh is still relatively high when compared to other provinces in Indonesia. Given this urgency, this study aims to estimate the short-term and long-term effects of food prices on poverty rates in Aceh using an Error Correction Model (ECM) supplemented by observations of long-term equilibrium or cointegration relationships. The secondary data used is the period 2014Q1 - 2022Q4. The estimation results show that in the short and long run, food prices have a significant effect and are positively related to the poverty rate in Aceh. The imbalance between the actual poverty rate and the desired poverty rate will be adjusted over 3.32 quarters. Therefore, the Aceh Government's measures and policies in alleviating poverty need to be revisited by consistently improving the quality of human resources, quantity, and sustainability of agricultural production.
The Effect of Special Autonomy Fund Allocation for Education and Health on Human Development in Aceh Province, Indonesia Yulianti, Reka; Syahnur, Sofyan; Abrar, Muhammad; Srinita, Srinita
Grimsa Journal of Business and Economics Studies Vol. 1 No. 2 (2024): July 2024
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v1i2.36

Abstract

Aceh is one of the three provinces in Indonesia that receive special autonomy funds, which function as a stimulant to accelerate development. This study aims to analyze the effect of these funds in education and health on human development in Aceh Province. It uses secondary data obtained from Bappeda Aceh Province and the Statistics of Aceh Province. The type of data used is panel data, with the cross-section consisting of 23 districts/cities in Aceh Province and the time series spanning from 2011 to 2022. Panel data regression and Moderated Regression Analysis (MRA) methods were employed to analyze the data and achieve the research objectives. The findings of this study indicate that special autonomy funds for education have a significant positive effect on the Human Development Index (HDI), while special autonomy funds for health have a significant negative effect on HDI in Aceh Province. Additionally, economic growth does not moderate the effect of special autonomy funds in education and health on HDI in Aceh Province. It is recommended that the Aceh Provincial Government implement more intensive policies, such as monitoring and evaluating the progress of education and health programs, and involving community participation in these programs to achieve optimal targets.

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