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Economic and Business Horizon
Published by Publindo Akademika
ISSN : -     EISSN : 29632765     DOI : 10.54518/ebh
Core Subject : Economy,
Economic and Business Horizon (EBH) is an open access journal that publishes multidisciplinary economic and business research in an inclusive scope and format. It allows academics, scholars, and researchers with different backgrounds to share useful research results in the fields of management, marketing, finance, accounting, banking, information systems, corporate governance, business ethics etc. In addition, they can submit their work in the form of empirical research, theoretical and conceptual ideas, reviews, letters, and applied studies. The journal applies an efficient and objective peer review by considering each submission based on scientific merit and research integrity. This journal aims to make a significant contribution to research and knowledge worldwide through original and high-quality publications.
Articles 83 Documents
Sustainable Dividend Strategies: Analyzing Factors Influencing Dividend Policy in Indonesian Manufacturing Firms Marpaung, Aldio; Brahmanto, Unggul; Muharam, Harjum
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.614

Abstract

This study aims to provide empirical evidence on the development of sustainable dividend strategies by examining the influence of profitability, liquidity, insider ownership, free cash flow, and growth opportunities on dividend policy within Indonesian manufacturing companies. The dividend policy in this research is proxied using the dividend payout ratio (DPR), reflecting the commitment of firms to distribute profits sustainably. The population for this study includes all manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2021-2023 period, with purposive sampling yielding a sample of 39 companies. Secondary data, primarily financial statements sourced from the IDX's official website (www.idx.co.id), is utilized for analysis. Hypothesis testing is conducted using multiple linear regression analysis facilitated by SPSS version 26. The findings indicate that profitability, insider ownership, free cash flow, and growth opportunities significantly and positively influence sustainable dividend strategies, while liquidity does not exhibit a significant effect. This research contributes to the understanding of how manufacturing firms can align their dividend policies with sustainable practices, ultimately enhancing their competitive advantage in the market.
E-WOM’s Impact on Purchase Intention Through Brand Awareness and Perceived Quality Puspadini , Alifa; Hidayat, Muhammad Sondang; Khasanah, Imroatul; Yoestini
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.615

Abstract

Electronic Word of Mouth (E-WOM) has become a strategy widely adopted by companies to promote their products, especially in line with the advancement of the digital era. Businesses continue to strive to maintain strong engagement with customers. This study examines the effect of E-WOM on consumer purchase intention, with brand awareness and perceived quality as mediating variables (case study on Sea Makeup cosmetic products in a region). These variables include E-WOM as an independent variable, brand awareness and perceived quality as mediators, and purchase intention as the dependent variable. The sample consisted of 135 female respondents aged 16–54 years in Semarang who knew or had purchased Sea Makeup products. Data were collected through purposive non-probability sampling using a questionnaire. Structural Equation Modeling (SEM) with AMOS was used for the analysis. The findings indicate that E-WOM positively influences brand awareness and perceived quality, both of which in turn positively influence purchase intention. E-WOM also has a direct impact on purchase intention positively.
The Integration of Digital Transformation and e-WOM on Consumers in the Religious Tourism Industry Azzahra, Alifya; Ramadhan, Novitha Dwipermata; Yoestini; Dirgantara, I Made Bayu
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.616

Abstract

The rapid advancement of digital technology has catalyzed transformation across various sectors, including the religious tourism industry, particularly in Umrah and Hajj services. One key adaptation to this digital shift is the implementation of electronic word of mouth (eWOM) as a strategic marketing tool aimed at influencing consumer purchase intention. This study seeks to explore the interrelationship between digital transformation, eWOM, and purchase intention within the context of religious tourism by employing a Systematic Literature Review (SLR) approach. A comprehensive analysis of both national and international scholarly literature was conducted to identify core concepts and examine their interlinkages. Through a thorough theoretical examination, this study aims to contribute to the development of sustainable digital marketing strategies and provide a conceptual foundation for future research in this domain. The findings reveal that eWOM exerts a significant influence on purchase intention, both directly and indirectly through the mediating roles of brand image and trust. These insights highlight the strategic importance of integrating digital innovation with sustainable marketing practices to enhance the competitive advantage of Umrah and Hajj travel agencies in the digital era.
Effects of Quality and Price on Purchase decision Mediated by Brand Image Rusyda, Hadaina; Syafitri, Lulu Nur’aini; Yoestini
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.617

Abstract

Local cosmetic brands have evolved to remain competitive in the market as a result of the beauty industry's advancements. The rise of SASC as a regional cosmetics company that can draw in customers. Price and quality are two factors that drive rivalries among brands. Businesses must therefore be able to create strategies that promote favorable customer reactions. The purpose of this study is to ascertain how consumer perceptions of brand image, price, and product quality affect their decisions to buy. The data was gathered using a technique called purposeful sampling. A questionnaire completed by Semarang-based women who had previously purchased SASC yielded 124 samples for this investigation. The AMOS program's SEM analysis was used to process the acquired data. The data analysis results of this study demonstrate that pricing and product quality positively affect the image of the brand and purchasing decisions. Additionally, this study shows that purchase decisions are positively impacted by brand image. Therefore, in order to boost sales, SASC needs to be able to create a brand strategy.
The Influence of Influencer Marketing and Brand Engagement on Purchase Intention Hadi, Hanna Shafira; Kinanti, Prasasti Sekar; Khasanah, Imroatul; Soesanto, Harry
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.618

Abstract

In the digital era, companies are increasingly leveraging the internet to market their products and engage with consumers. One of the most commonly adopted strategies today is influencer marketing. This approach has gained popularity in tandem with the rapid development of digital technologies, as businesses strive to maintain meaningful connections with their customers. Influencer marketing capitalizes on the credibility and appeal of influencers to foster meaningful and sustained relationships between brands and consumers by leveraging the interactive and communicative features of social media platforms. This study aims to examine how influencers’ attractiveness, trustworthiness, and expertise influence consumers’ purchase intentions, with brand engagement serving as a mediating variable. The research population consists of Indonesian individuals who are aware of or have seen influencers promoting products and have made a purchase. A total of 110 respondents participated in the study. Data collected through questionnaires were analyzed using the AMOS 24.0 software. The findings reveal that influencers’ attractiveness, trustworthiness, and expertise positively impact brand image and purchase intention. Additionally, brand engagement significantly influences purchase intention.
Collaboration Strategy of BRI in Optimizing Integrated Ecosystem for Intermediation Effectiveness Sanjoyo, Eli; Adhisuryo, Raghutama Haryo; Harto, Puji; Hararja, Surya
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.619

Abstract

This study aims to analyze the the collaboration strategy of PT bank rakyat Indonesia (Persero) Tbk in optimizing the integrated business ecosystem to support the effectiveness of the Intermediation Function. The focus of this research is on the wholesale segments. This research uses a mixed methods approach, with quantitative data processing based on BRI's financial statements for the 2020-2024 period, and qualitative analysis through documentation studies and content analysis from official company sources. The results showed that the collaboration strategy in the Wholesale segments can increase the effectiveness of the intermediary function which is marked by an increase in the LDR ratio, CASA and a significant growth in third party funds. Surprising results are also seen in the indicators of the integrated system itself where each component such as trade finance, bank guarantees and Lola Cash Management volume also experienced a significant increase from year to year. The implications of these findings emphasize the importance of expanding partner networks, innovating digital services, and synergizing between actors in the ecosystem as key strategies in improving bank competitiveness and supporting intermediation functions in a sustainable manner
Bank BRI Digital Transformation Strategy for Corporate QLola Application Decision-Making Syafaruddin, Frans Prayuda; Wibowo, Wisnu Aji; Indriani, Farida
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.620

Abstract

This study examines the digital transformation strategy of Bank Rakyat Indonesia (BRI) in fostering corporate decision-making towards the adoption of the QLola application for business transactions. In response to rapid technological advancements and shifting customer behavior towards digital financial services, BRI launched the QLola platform as an integrated corporate digital banking solution. This research employs a qualitative approach, utilizing in-depth interviews and triangulation techniques with corporate users across various industries, including hospitality, seafood export, and agriculture sectors. The findings reveal that BRI's strategic focus on comprehensive digital transformation, including API integration and data-driven decision dashboards, has significantly enhanced corporate transaction efficiency and financial management transparency. Additionally, the study underscores that BRI's digital banking innovation not only strengthens its position in corporate banking services but also contributes to building a more inclusive and competitive national digital financial ecosystem. The novelty of this research lies in its emphasis on the correlation between digital banking transformation strategies and corporate decision-making processes, providing valuable insights for practitioners and academics in understanding the dynamics of digital financial services adoption.
Digital Trade Finance Transformation and Sustainable Marketing Strategies: A Literature Review Indrianti, Marini Astari; Nurdin, Asep; Perdhana, Mirwan Surya
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.621

Abstract

Digital transformation is reshaping the banking sector, particularly in trade finance, improving operational efficiency and providing better solutions for international transactions. Bank Rakyat Indonesia (BRI) developed the "Qlola by BRI" platform to streamline trade finance services, though challenges like low digital literacy, cybersecurity risks, and resistance to change persist. This study employs a literature review methodology to explore the integration of digital transformation and sustainable marketing strategies in BRI’s trade finance operations. By synthesizing existing research, the study examines BRI’s strategies in addressing these challenges and analyzes customer perceptions of digital platforms using the Technology Acceptance Model (TAM). The findings suggest that perceived ease of use and perceived usefulness are key factors in adopting digital solutions. Additionally, the research explores how integrating sustainable marketing strategies with digital efforts can enhance customer experience and foster long-term business growth. Insights from the review provide recommendations for financial institutions and policymakers to overcome barriers to digital adoption and implement effective sustainable marketing practices.
Sustainable Digital Marketing Strategy for Long Term Business Growth Maulida, Husna; Waluyo, Zahra Amany Alya; Soesanto, Harry
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.624

Abstract

In the era of rapid digital transformation and increasing market competition, businesses are challenged to move beyond short-term marketing tactics and adopt sustainable digital marketing strategies to ensure long-term growth. This study explores the essential components of a sustainable digital marketing strategy that supports enduring business success. Using a qualitative research method with a literature study approach, this article analyzes academic sources, industry reports, and relevant case studies to identify key strategic elements. The findings show that businesses must develop a deep understanding of their market and audience, maintain consistency in branding, optimize for SEO, leverage social media, implement effective content marketing, utilize data analytics, apply targeted email marketing, and invest continuously in learning and innovation. These components collectively form the foundation for sustainable digital marketing practices. The study contributes to the field by offering practical guidance for business leaders, marketers, and policymakers in designing strategies that not only drive long-term customer engagement and loyalty but also strengthen competitive positioning in a rapidly evolving digital landscape.
Cash to Digital Transformation: Policy Challenges and Opportunities in Improving Financial Inclusion Dahliani, Klara Paskarena; Soesanto, Harry
Economic and Business Horizon Vol. 4 No. 2 (2025): May
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.4.2.2025.625

Abstract

The transition from cash-based payment systems to digital finance has emerged as a global phenomenon driven by advances in financial technology and a growing emphasis on financial inclusion. While this transformation offers significant opportunities to expand access to formal financial services, it also presents a number of policy challenges, particularly in developing countries with low levels of digital literacy. This study aims to explore the policy challenges and opportunities associated with the cash-to-digital transformation in enhancing financial inclusion. A qualitative research method with a literature study approach is used, analyzing academic publications, policy reports, and case studies from various countries. The research findings reveal that the success of this transformation depends on several important factors, including the readiness of digital infrastructure, public trust in the digital financial system, and the development of adaptive and inclusive regulations. The main contribution of this study lies in providing policy recommendations for governments, financial regulators, and fintech industry players in designing sustainable and inclusive digital transformation strategies. These findings are expected to serve as a foundation for policy makers to create a more effective digital financial ecosystem in promoting financial inclusion.