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INDONESIA
Journal of Economics and Management
ISSN : 29877407     EISSN : 29877407     DOI : https://doi.org/10.70716/ecoma.v2i2
Core Subject : Economy, Science,
Journal of Economics and Management (ECOMA) is a peer-reviewed, open access, and online journal about research, reports, book reviews, and commentaries on all aspects of Economics and Management which is published by Lembaga Publikasi Ilmiah Nusantara or PUBLINE Institute. ECOMA provides open access to anyone so that the information and findings in these articles are useful for everyone. This journal article content can be accessed and downloaded for free, free of charge, following the creative commons license used. However, suppose the data in this article is used as material in article writing or anything else. In that case, you must quote and include the article author name in the item being made.
Articles 110 Documents
Confucian Values and Ethical Leadership in Sustainable SME Development Budi Sutiono Pratama Nugraha; Novi Diah Wulandari; Marosimy Millaty
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.514

Abstract

This study examines how Confucian cultural values—Ren, Yi, Li, and Zhi—shape ethical leadership and sustainability practices in small and medium-sized enterprises (SMEs), thereby contributing to the implementation of the Sustainable Development Goals (SDGs) in emerging economies. Ethical Leadership is investigated as a mediating mechanism linking cultural values to sustainability outcomes. A phenomenological qualitative approach was employed through in-depth interviews with 15 SME leaders selected using purposive sampling. Data were analyzed using thematic analysis and the Gioia methodology, progressing from first-order concepts to second-order themes and aggregate dimensions to explore the relationship between cultural values, leadership behavior, and sustainability practices. The findings show that Ren promotes social responsibility through employee welfare and community engagement, while Yi strengthens ethical decision-making based on fairness and integrity. Li institutionalizes ethical conduct through organizational norms and governance systems, whereas Zhi supports a long-term orientation toward sustainability. Ethical Leadership emerged as the key mechanism translating these values into sustainability-oriented practices aligned with the SDGs. Leaders who embody Confucian values foster trust, legitimacy, and stakeholder engagement, creating a culture that supports sustainable business practices. The study highlights a culturally embedded pathway of sustainability transformation in SMEs by integrating value-based Leadership and ethical governance. It contributes to leadership theory by conceptualizing ethical Leadership as a culturally grounded and value-driven process rather than a universal behavioral construct. In practice, the findings suggest that integrating Confucian ethics into leadership development programs can strengthen ethical governance, sustainable performance, and alignment with the SDGs in culturally diverse SME contexts.
The Role of Financial Literacy in Enhancing MSME Performance in Emerging Economies Aryo Prakoso; Fauziyah Azzahro; Senato Erasandi
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.515

Abstract

This study explores the critical role of financial literacy as a strategic determinant of the performance of Micro, Small, and Medium Enterprises (MSMEs) in East Java, one of Indonesia’s largest regional economies. This research seeks to bridge the theoretical gap between individual and organizational human capital by empirically examining the direct influence of owner-managers’ financial competence on business success amid widespread digital transformation. Hypothesis testing employed a quantitative methodology. Data collected from MSMEs in East Java in 2025 were analyzed using covariance-based Structural Equation Modeling (SEM). The robustness of the measurement instrument was confirmed through Confirmatory Factor Analysis (CFA), and the validity of the structural model was rigorously assessed against established goodness-of-fit criteria to examine the proposed causal pathways. The findings provide empirical support for the view that financial literacy emerges as a significant and positive predictor of enhanced MSME performance. The model demonstrated superior fit, thereby affirming the validity of the theoretical framework. This study offers a theoretical contribution by successfully contextualizing the Resource-Based View within the micro-enterprise domain, articulating financial literacy as a critical intangible asset that drives competitive advantage. For practitioners and policymakers, these findings provide authoritative evidence to support integrated intervention strategies that synergize financial education, thereby fostering a more resilient, productive, and sustainable MSME sector essential for inclusive economic growth.
Influence of Fomo and Flash Sale on Doom Spending with Impulsivity Moderation in Balinese Students I Kadek Yoga Rama Parmita; Liem Bambang Sugiyanto; Lexi Pranata Budidharmanto; Fahrul Riza
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.517

Abstract

This study examines the effects of Fear of Missing Out (FOMO) and flash sales on doom spending behaviour among Generation Z college students in Bali Province, with impulsivity as a moderating variable. A quantitative approach was employed using online and offline questionnaires distributed to 200 respondents selected through purposive sampling from several universities in Bali. Data were analyzed using Structural Equation Modeling (SEM) with SmartPLS 4.0. The findings show that both FOMO and flash sales have a positive and significant effect on doom spending behavior. However, impulsivity does not significantly moderate the relationship between FOMO and doom spending, nor between flash sales and doom spending. These results indicate that doom spending among Generation Z is directly influenced by digital promotional stimuli and emotional pressure, regardless of individual impulsivity levels. The study highlights the dominant role of digital promotional stimuli in shaping consumer behavior. Practically, the findings suggest that consumers need greater awareness and self-control when responding to time-limited promotions and socially driven purchasing pressure. For sellers and platform managers, the results provide insights for designing effective promotional strategies while encouraging responsible consumption. This study is limited to Generation Z college students in Bali and relies on self-reported data. Future research is recommended to expand the sample and include additional variables, such as financial literacy, self-control, and emotional regulation.
Tracing the Underlying Operations, Processes, and Path Dependencies: The Microfoundations of Dynamic Capabilities in Educational Institutions Daniel Ong Kim Kui; Rinto Rain Barry; Yohana F. Cahya Palupi Meilani
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.654

Abstract

The strategy of education institutions to adapt and renew their resources and capabilities has become an increasingly critical issue, particularly with demographic shifts, intensifying competition, and resource constraints that threaten school operations. This study examines how microfoundations contribute to school sustainability and unpacks operational practices that enable organizational sustainability in educational institutions. Adopting a qualitative multiple-case study design, the study investigates eight secondary private schools in Indonesia with varying operational capabilities and performance. Data were collected through in-depth interviews, the school's operational plan, and activity observations, which were studied using thematic multi-case analysis. The findings reveal that schools' sustainability depends on how quickly they reorganize and build their strategic assets, such as processes, capabilities, technologies, and community feedback, to become new competitive advantages. Schools with stronger human resources, functional operational systems, and adaptive leadership were better able to sense shifts in the external environment, innovate in educational services, and reconfigure organizational practices. In contrast, schools experiencing failure showed weak individual-level actions and routines, despite having had strong positions in the past. The study proposes a strategic model that conceptualizes schools as capability-driven, grounded in microfoundations, to ensure a successful, result-oriented path. Theoretically, the findings confirm and extend the application of Dynamic Capability Theory in non-profit education contexts. In practice, the study offers strategic insights for school leaders, foundations, and policymakers seeking to enhance the sustainability of private secondary schools through various managerial routines.
From Gratification to Purchase Intention: Examining the Effects of Social Media Marketing in F&B Through Brand Awareness and Consumer Brand Engagement Bintang Gustiady; Rina Suthia Hayu
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.663

Abstract

This study aims to analyze the effect of Social Media Marketing on Purchase Intention in the context of the viral food brand Mie Gacoan and to examine the mediating roles of Brand Awareness and Consumer Brand Engagement. This study is motivated by TikTok's growing role as a digital marketing medium capable of shaping brand recognition, consumer engagement, and purchase intention through entertaining, trend-oriented content supported by electronic word of mouth. This research employs an explanatory quantitative approach, with data collected through an online questionnaire administered to 450 respondents aged 18-34 years in Indonesia who had seen Mie Gacoan social media content and had an interest in, or intention to, purchase the product. The data were analyzed using Partial Least Squares-Structural Equation Modeling with SmartPLS. The findings show that Social Media Marketing has a positive and significant effect on Brand Awareness, Consumer Brand Engagement, and Purchase Intention. Brand Awareness and Consumer Brand Engagement also have positive and significant effects on Purchase Intention. The R-square value indicates that the combination of Social Media Marketing, Brand Awareness, and Consumer Brand Engagement explains 61.70% of the variation in Purchase Intention. Moreover, the mediation test results demonstrate that Brand Awareness and Consumer Brand Engagement mediate the effect of Social Media Marketing on Purchase Intention. These findings confirm that social media marketing can increase purchase intention not only directly but also by strengthening brand awareness and consumer engagement.
The Political Economy of Deforestation in Papua: Hegemony, Land Dispossession, and the Global Frontiers of Resource Extraction Inez Cara Alexander Phoek; Hendrik Susanto; Simon Ebel Maris Phoek; Eka Setiawati; Lavenia Lauwinata
Journal of Economics and Management Vol. 4 No. 2 (2026): Journal of Economics and Management, June 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i2.668

Abstract

This study explores the political economy of deforestation in Papua, Indonesia, by assessing how state development strategies, transnational capital growth, and indigenous land governance interact within a fragile frontier ecosystem. Applying a qualitative method with a critical case study design, the research centers on Merauke Regency, especially areas influenced by large-scale agribusiness and food estate projects. Data were obtained through document review, semi-structured interviews, and field observations, then examined through thematic coding and analytic narrative guided by political ecology, neo-Gramscian international political economy (Cox, 1981; Gill, 1993), structural power theory (Strange, 1988), accumulation by dispossession, and global commodity chain perspectives. The findings show that deforestation in Papua results from the alignment of state-driven development programs, transnational capital interests, and global commodity networks operating through concession-based land governance that often weakens indigenous customary rights. The study also finds that plasma plantation schemes and corporate social responsibility (CSR) programs can serve as institutional tools to lessen socio-ecological inequality. However, their application remains inconsistent across local settings. Furthermore, agribusiness expansion and related infrastructure development have produced complex impacts, including environmental damage, social displacement, declining indigenous livelihoods, and stronger disputes over land and territorial claims. This study contributes to political ecology and critical international political economy by framing Papua as a geopolitical frontier where capitalist accumulation, state territorial control, and indigenous resistance shape contemporary forest governance.
The Impact of Structural Position Changes on Employee Performance and Organizational Effectiveness Fauzan Hakim; Eneng Wiliana; Hengki Nurhuda
Journal of Economics and Management Vol. 4 No. 3 (2026): Journal of Economics and Management, September 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i3.512

Abstract

Structural position changes have become an increasingly important human resource management strategy for higher education institutions undergoing organizational transformation. However, empirical evidence explaining how structural position changes simultaneously influence employee performance, organizational commitment, and organizational effectiveness remains limited, particularly within Indonesian Islamic higher education institutions. This study aims to examine the direct and indirect effects of Structural Position Changes (SPC) on Organizational Effectiveness through Employee Performance and Organizational Commitment. A quantitative cross-sectional design was employed using survey data collected from 185 academic and non-academic staff at Universitas Muhammadiyah Tangerang. The proposed model was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. The findings indicate that Structural Position Changes significantly improve Employee Performance (β = 0.412, p < 0.001), Organizational Commitment (β = 0.367, p < 0.001), and Organizational Effectiveness (β = 0.389, p < 0.001). Furthermore, Employee Performance and Organizational Commitment partially mediate the relationship between Structural Position Changes and Organizational Effectiveness. This study contributes to the human resource management literature by proposing an integrated mediation model that combines behavioral and attitudinal mechanisms to explain how structural changes enhance organizational effectiveness within Indonesian Islamic higher education institutions. The findings also have practical implications for university leaders seeking to design competency-based structural transformation strategies that improve institutional performance and strengthen employee commitment.
Green Marketing Model in Developing Bidadari Waterfall Nature Tourism in Canti Village, South Lampung Regency Hujaimatul Fauziah; Iwan Zulfikar
Journal of Economics and Management Vol. 4 No. 3 (2026): Journal of Economics and Management, September 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i3.522

Abstract

This study aims to develop and test an integrated, local wisdom-based green marketing model for sustainable nature tourism at Bidadari Waterfall in Canti Village, South Lampung Regency. Unlike prior studies treating green marketing, digital marketing, environmental awareness, regulation, and local wisdom separately, this research integrates them into a unified explanatory model and positions digital marketing as a mediating variable between green marketing and sustainable tourism. Quantitative explanation was applied using Structural Equation Modeling–Partial Least Squares SEM-PLS. Data were collected from 154 respondents comprising residents, Pokdarwis administrators, and domestic tourists through purposive sampling. The research instrument was adapted from previous studies and contextualized to village-based waterfall tourism. The results show that environmental awareness regulation and local wisdom have significant positive effects on green marketing, with local wisdom being the strongest determinant. This indicates the importance of cultural values and community-based ecological ethics in shaping sustainable tourism marketing. Green marketing influences digital marketing and sustainable tourism, while digital marketing partially mediates the relationship. These findings confirm that sustainable tourism development requires an integrated approach combining ecological awareness, regulatory support, local culture, green value creation, and digital communication. The study contributes to the green marketing literature by integrating local wisdom and digital mediation and proposes the Canti Green Tourism Marketing Model.
The Influence of Transformational Leadership and Organizational Culture on Private University Lecturers’ Performance in Bandar Lampung Khairul Saleh; Nuzleha; Ani Pujiati
Journal of Economics and Management Vol. 4 No. 3 (2026): Journal of Economics and Management, September 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i3.527

Abstract

This research examines the influence of transformational leadership and organizational culture on lecturers' performance, with organizational commitment as a mediating variable, in private universities in Bandar Lampung. The study employed a quantitative research design and analyzed the data using Partial Least Squares-based Structural Equation Modeling (PLS-SEM). The population consisted of permanent lecturers registered in PDDikti at private higher education institutions in Bandar Lampung. A total of 200 valid respondents were selected through purposive sampling. Data were gathered using questionnaires based on a five-point Likert scale. The findings show that transformational leadership has a positive and significant influence on organizational commitment (β = 0.412; p < 0.05) and lecturer performance (β = 0.356; p < 0.05). Organizational culture also has a positive and significant effect on organizational commitment (β = 0.378; p < 0.05) and lecturer performance (β = 0.329; p < 0.05). In addition, organizational commitment has a positive and significant effect on lecturer performance (β = 0.445; p < 0.05). The results further indicate that organizational commitment partially mediates the relationships between transformational leadership and lecturer performance, and between organizational culture and lecturer performance. From a practical perspective, these findings suggest that leaders of private universities need to focus on developing transformational leadership, strengthening an academic culture that supports performance, and enhancing lecturer commitment. These aspects can serve as strategic efforts to improve teaching productivity, research performance, community service activities, and the overall competitiveness of higher education institutions.
Dynamic Capabilities as the Foundation of Sustainable Competitive Advantage in MSMEs: The Mediating Role of Strategic Innovation Nuzleha; Khairul Saleh; Reza Pahlepi
Journal of Economics and Management Vol. 4 No. 3 (2026): Journal of Economics and Management, September 2026
Publisher : Lembaga Publikasi Ilmiah Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70716/ecoma.v4i3.529

Abstract

In unstable and technologically advanced marketplaces, Micro, Small, and Medium-Sized Enterprises (MSMEs) are under growing pressure to maintain a competitive edge. Using environmental dynamism as a moderating variable and strategic innovation as a mediating variable, this study investigates the impact of dynamic capacities on sustainable competitive advantage among Indonesian MSMEs. MSMEs in manufacturing and creative services sectors were chosen for high exposure to process adaptation, customer experience changes, product renewal, and competition in digital markets. This study, based on the Dynamic Capabilities View, employed a quantitative explanatory design, drawing on 320 usable responses from top managers and MSME owners in Jabodetabek, Bandung, Surabaya, and Yogyakarta. Structural Equation Modeling-Partial Least Squares (SEM-PLS) was used to examine data. The findings demonstrate that strategic innovation (beta = 0.618; p < 0.001) and competitive advantage (beta = 0.342; p < 0.001) are significantly impacted by dynamic capability. Strategic innovation partially mediates the association between dynamic capability and sustainable competitive advantage (indirect effect = 0.279; VAF = 45%) and has a favorable impact on sustainable competitive advantage (beta = 0.451; p < 0.001). Strategic innovation and dynamic capability are positively correlated with environmental dynamism (interaction beta = 0.186; p = 0.002). By elucidating how sensing, seizing, and reconfiguring skills are transformed into sustained competitive advantage through strategic innovation in emerging-market MSMEs, these findings expand the Dynamic Skills View. In practical terms, the results advise MSME owners to develop straightforward market intelligence procedures, expedite innovation-driven decision-making, and reallocate resources through collaborations, digital platforms, and process improvements.

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