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Mustard Journal De Ecobusin
Published by Generasi Sains Indonesia
ISSN : -     EISSN : 30481538     DOI : https://doi.org/10.37899/mjde
Core Subject : Economy,
Economics, Econometrics & Finance
Mustard Journal De Ecobusin [e-ISSN 3048-1538] is a peer-reviewed journal published three times a year in the field of Economic and Business. Mustard Journal De Ecobusin is intended to be the journal for publishing articles reporting the results of economic research. Mustard Journal De Ecobusin is invites manuscripts on various topics to include, including but not limited to functional areas of Entrepreneurship, Strategic Alliances, Microeconomics, Behavioral and Health Economics, Government Regulation, Taxation, Macroeconomics, Financial Markets, Investment, Banking, International Economics, Foreign Direct Investment, Economic Development, Environmental Studies, Urban Issues, Emerging Markets, Empirical Studies, Quantitative and Experimental Methods.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 55 Documents
 1   2   3   4   5 
The Role of Organizational Citizenship Behavior in Implementing Anti-Fraud Strategies at Bank Sulselbar Ahmad Fadlan; Didik Ibrahim
Mustard Journal De Ecobusin Vol. 2 No. 3 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i3.223

Abstract

The implementation of effective anti-fraud strategies relies not only on clear policies and procedures but also on the involvement of all members across the organization. In this case, organizational citizenship behavior plays a very important role. This study aims to analyze organizational citizenship behavior in the implementation of anti-fraud strategies at Bank Sulselbar in South Sulawesi and West Sulawesi Provinces. This study uses a descriptive quantitative research approach with data collection methods, namely questionnaires and review documents. Samples in this research are Bank Sulselbar employees. Data sources consist of primary and secondary data. While the technique of data analysis uses inferential statistics. The results of the study show that organizational citizenship behavior in implementing anti-fraud strategies at Bank Sulselbar in South Sulawesi and West Sulawesi Provinces is 20,730 or 88% of the maximum percentage. If seen from the value range table it can be concluded that organizational citizenship behavior in implementing anti-fraud strategies at Bank Sulselbar in South Sulawesi and West Sulawesi Provinces is relatively very high.
Financial Market Volatility and Investor Behavior: Evidence from the Indonesian Stock Exchange Rika Novyta Sari; Rajab Abdullah
Mustard Journal De Ecobusin Vol. 2 No. 3 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i3.229

Abstract

This study investigates the relationship between financial market volatility and investor behavior in the Indonesian Stock Exchange, with a focus on behavioral dimensions such as sentiment, risk perception, overconfidence, and herding. Using survey data from active investors and quantitative modeling, the research identifies how psychological and social factors interact with market structures in shaping volatility. The findings reveal that behavioral elements explain more than half of the variation in investor perceptions of volatility, with sentiment and herding showing the strongest effects. These results suggest that market fluctuations in Indonesia are not merely the outcome of economic fundamentals but are significantly influenced by retail-driven trading patterns and the accelerating role of digital platforms. The study contributes to behavioral finance literature by demonstrating the contextual relevance of biases in an emerging market setting, where institutional stabilization is relatively weak and cultural factors magnify collective tendencies. Practically, the results underscore the importance of enhancing financial literacy, regulating digital market ecosystems, and promoting more sustainable investment strategies to mitigate destabilizing behaviors. The study also highlights the need for future research that integrates behavioral insights with macroeconomic and political variables to achieve a more comprehensive understanding of volatility in emerging economies.
Foreign Direct Investment and Economic Development: Comparative Analysis in Southeast Asia Afifah Salim; Jumrahana; Iqra Aiman
Mustard Journal De Ecobusin Vol. 2 No. 3 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i3.230

Abstract

This study examines the role of Foreign Direct Investment (FDI) in shaping economic development across selected Southeast Asian countries. Using a comparative analysis, it highlights the uneven impact of FDI inflows by analyzing variations in volume, sectoral distribution, and institutional quality. Data from Singapore, Vietnam, Indonesia, the Philippines, and Cambodia reveal that while FDI contributes significantly to growth, its benefits are not uniform across the region. Singapore has leveraged its institutional strength and advanced services sector to attract high-value investment, whereas Vietnam has successfully used FDI to accelerate manufacturing-led industrialization. By contrast, Indonesia and the Philippines struggle to convert large inflows into proportional developmental outcomes due to regulatory inefficiencies, while Cambodia remains highly dependent on resource-based FDI, exposing it to sustainability risks. The findings underscore that the developmental impact of FDI depends less on the quantity of inflows than on sectoral orientation, absorptive capacity, and governance effectiveness. Theoretically, the study challenges the linear assumption that FDI automatically drives growth, while practically, it suggests that Southeast Asian countries need to strengthen human capital, institutional frameworks, and regional cooperation to maximize developmental returns.
Strategic Alliances between Banks and Fintech Companies: Effects on Financial Inclusion in Gorontalo Suci Belfebriani; Sri Astuti
Mustard Journal De Ecobusin Vol. 1 No. 4 (2024): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v1i4.240

Abstract

This study explores the impact of strategic alliances between banks and fintech companies on financial inclusion in Gorontalo. Although financial inclusion is essential for economic growth, many rural communities in Indonesia remain outside formal financial systems. Partnerships between banks and fintech firms offer a potential solution by combining regulatory reliability with technological innovation. Using a mixed-method explanatory sequential design, the study surveyed 200 respondents, including microenterprise owners and households, and conducted interviews with bank managers, fintech executives, and customers. Quantitative data were analyzed using descriptive statistics and multiple regression, while qualitative data provided contextual insights. The study measured the strength of strategic alliances through partnership intensity, service integration, and product innovation, and financial inclusion through access, usage, and quality. Results show that strategic alliances significantly improve financial inclusion, with the strongest effect on access, followed by usage and quality. However, barriers such as low digital literacy, weak infrastructure, and high transaction costs limit the full potential of these collaborations. The findings suggest that improving digital literacy and infrastructure support is crucial for strengthening the positive role of bank–fintech partnerships in promoting inclusive financial growth in Gorontalo.
Economic Development through Social Entrepreneurship: Case Study of Rural Innovation Hubs : JEL Classification: L26, O18, O35, R11, Z13 Amirul Mukmin Iskandar; Muh. Renaldy; Nur Pratiwi
Mustard Journal De Ecobusin Vol. 2 No. 1 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i1.244

Abstract

Rural innovation hubs have increasingly been recognized as strategic mechanisms for promoting social entrepreneurship and strengthening local economic development. This study aims to examine the contribution of rural innovation hubs to entrepreneurial performance and household economic improvement in Balikpapan, Indonesia. A quantitative cross-sectional survey was conducted involving 180 respondents representing three innovation hubs operating in the agriculture, handicrafts and creative industries, and digital services sectors. Data were collected using structured questionnaires and analyzed through descriptive statistics and paired sample t-tests. The findings reveal a statistically significant increase in household income following participation in innovation hub programs, indicating positive economic outcomes for participating entrepreneurs. Respondents also reported favorable perceptions regarding market access, entrepreneurial skills development, and networking opportunities, whereas access to financial capital remained the least satisfactory aspect of the programs. The novelty of this study lies in its comparative quantitative assessment of multiple rural innovation hubs across different business sectors within a single regional context, providing empirical evidence on their contribution to inclusive entrepreneurship and local economic development. The findings highlight the importance of strengthening institutional collaboration, entrepreneurship support services, and financial inclusion policies to enhance the sustainability and effectiveness of rural innovation ecosystems.
The Effect of Financial Literacy Programs on Household Saving Behavior : JEL Classification: D14, G41, G50, I22, O16 Wulandari Wulandari; Muhammad Irfandi
Mustard Journal De Ecobusin Vol. 2 No. 1 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i1.245

Abstract

Financial literacy plays a critical role in promoting household financial resilience, particularly in rapidly urbanizing economies where individuals face increasingly complex financial decisions. This study aimed to examine the effectiveness of financial literacy programs in improving household saving behavior among urban households in Indonesia and to identify the contextual factors influencing program outcomes. A quasi-experimental mixed-methods approach was employed, involving 150 participating households. Quantitative data were collected through pre- and post-program surveys, while qualitative evidence was obtained from in-depth interviews and focus group discussions. The findings indicate that participation in financial literacy programs substantially improved household saving behavior, with average monthly savings increasing by 55.6% across all participants. Lower-income households experienced the greatest proportional improvements, while qualitative findings revealed enhanced budgeting skills, financial awareness, saving discipline, and confidence in financial decision-making. Nevertheless, limited access to formal financial services remained a significant obstacle preventing participants from fully applying their financial knowledge. The novelty of this study lies in integrating behavioral outcomes with qualitative evidence to demonstrate that the effectiveness of financial literacy programs depends not only on individual financial knowledge but also on supportive institutional and socioeconomic conditions. These findings highlight the importance of combining financial literacy initiatives with financial inclusion policies to strengthen household financial resilience and promote sustainable urban economic development.
The Influence of Digital Payment Adoption on Microenterprise Profitability : JEL Classification: G23, L26, M15, O33, O53 Abdullah Munafri; Suciati Suciati
Mustard Journal De Ecobusin Vol. 2 No. 1 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i1.239

Abstract

This study examines the influence of digital payment adoption on the profitability of microenterprises in Yogyakarta, Indonesia. A quantitative explanatory research design was employed using data collected from 100 microenterprise owners through structured questionnaires. The data were analyzed using descriptive statistics and multiple linear regression analysis to evaluate the effect of digital payment adoption on business profitability. The findings reveal that digital payment adoption has a positive and statistically significant influence on profitability, indicating that businesses with higher levels of digital payment utilization experience greater sales growth, improved profit margins, enhanced cost efficiency, and increased transaction volume. Digital payment adoption explains 51.1% of the variation in microenterprise profitability, demonstrating its substantial contribution to business performance. These findings extend current knowledge regarding the economic benefits of digital financial technologies among microenterprises and highlight the strategic importance of digital payment systems in supporting business sustainability. The study provides practical implications for policymakers and fintech providers to strengthen digital payment ecosystems and improve digital capability among microenterprises to foster sustainable local economic development.
Utilization of Information Technology and the Effectiveness of BPJS Employment Services in Indonesia Jasni Widyanto; Nadhila
Mustard Journal De Ecobusin Vol. 2 No. 2 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i2.257

Abstract

The article examines the impact of information technology (IT) application on the effectiveness of services in BPJS BPJS Employment, which is an important institution of public significance serving as an employment social security provider in Indonesia. The quantitative method was used to collect data using questionnaires adapted in a structured design that targeted 120 respondents most of whom were a combination of staff and service users. The product of an inferential statistical procedure such as correlation and linear regression data results, showed that there is a positive correlation between IT utilization and service effectiveness, which was strong and significant. Regression model indicated that IT usage was related to 55.1 percent of the variation in service effectiveness due to the standardized coefficient of 0.742 and the p-value of <0.001. The results of the study show that online registration, automated claims, and mobile platforms increase the value and efficiency of services and have a considerable influence on their manifold dimensions of quality, velocity, and accuracy. The research will fill this gap in a literature base by providing an empirical evaluation of the e-governance processes in Indonesia; it fills this gap because it will provide a quantitative analysis of e-governance processes in Indonesia in a context where most of the literature only presents the qualitative perspectives of the e-governance processes. The findings emphasize the strategic essence of enhancing IT infrastructure, training of these users and digital literacy in the quest to enhance further provision of the services in the institutions in the public sector.
Human Resource Management Strategies in Strengthening the Performance of MSMEs in Bulukumba Firmansyah Bachtiar
Mustard Journal De Ecobusin Vol. 2 No. 2 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i2.258

Abstract

This research aims to analyze the role of Resources Management (MSDI) in improving the performance of Micro, Small, and Medium Enterprises (UMKM) in Bulukumba District. MSDI, as an advanced development of Human Resources Management (HRM), adopts a more holistic and humanistic approach, focusing on employee empowerment and comprehensive development. This study uses qualitative methods, including in-depth interviews with UMKM owners and employees, along with relevant secondary data analysis, to identify key factors that influence MSDI management and UMKM performance. The findings highlight the importance of structured MSDI management in improving service quality, customer satisfaction, and operational productivity. It was found that areas such as employee training, technology integration, and employee involvement in decision-making are critical to the performance improvement of UMKM. The research also discusses the challenges faced by UMKM in Bulukumba, including financial constraints and the lack of training and technology adoption. The study suggests that effective MSDI management, focusing on employee development and the integration of appropriate technologies, can create a more productive and competitive environment for UMKM.
The Economic Impact of Human Resource Management Practices on Organizational Performance in Manufacturing Companies in West Java Fitria Dewi Santosa
Mustard Journal De Ecobusin Vol. 2 No. 2 (2025): Mustard Journal De Ecobusin (MJDE)
Publisher : Generasi Sains Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37899/mjde.v2i2.259

Abstract

This study investigates the connection between organizational performance and human resource management (HRM) practices in West Java, Indonesian manufacturing firms.  It specifically looks at how employee engagement, performance management, training and development, and recruitment processes affect the overall performance of the company.  Data were gathered from 150 workers at a variety of manufacturing companies in the area using a quantitative study design.  The findings demonstrate that HRM approaches significantly and favorably affect organizational performance, especially employee engagement, training and development, and performance management.  Training and development were found to be the next most important aspect, after employee involvement.  The study indicates that by strategically implementing HRM strategies that support employee involvement, skill development, and efficient performance management, firms in West Java can improve their performance.  These results underline the significance of human capital as a primary driver of competitive advantage and organizational performance, supporting the resource-based view of HRM.

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