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Ascendia: Journal of Economic and Business Advancement
Published by CV SCRIPTA INTELEKTUAL MANDIRI
ISSN : 31108229     EISSN : 31106994     DOI : 10.65310
Core Subject : Economy,
Economics, Econometrics & Finance
Ascendia: Journal of Economic and Business Advancement is a peer-reviewed academic journal dedicated to the dissemination of high-quality research in economics, management, accounting, and business. The journal provides an open platform for researchers, scholars, practitioners, and academics to publish original empirical studies, theoretical analyses, and applied research that contribute to economic development and business innovation. Ascendia welcomes manuscripts on a wide range of topics, including economic policy, financial management, entrepreneurship, organizational behavior, business strategy, marketing, and sustainable economic growth. All submissions undergo a rigorous double-blind peer-review process to ensure scholarly integrity, originality, and academic excellence. Published quarterly in March, June, September, and December, Ascendia aims to foster intellectual exchange and promote forward-looking insights that drive progress in economic and business disciplines at both national and international levels.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 83 Documents
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Analisis Investasi Saham Sektor Energi Menggunakan Metode Value at Risk (VAR) dan Conditional Value at Risk (CVAR) dengan Pendekatan Single Index Model: Studi Kasus Indeks LQ45 Tahun 2025 Ayu Nor Aisah; Eka Krisna Santoso; Nurul Maqfirah Rauf
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/xxd11m37

Abstract

The energy sector is characterized by high volatility, making comprehensive risk analysis essential for investment decision-making. This study examines the risk and return characteristics of energy sector stocks included in the LQ45 index in 2025 by integrating the Single Index Model with Value at Risk (VaR) and Conditional Value at Risk (CVaR). Daily closing price data from February 2022 to July 2025 are employed to estimate stock returns, market sensitivity, and portfolio risk. The Single Index Model identifies three optimal stocks AKRA, MEDC, and PGAS based on their Excess Return to Beta and positive Zᵢ values, resulting in portfolio weights of 39.6%, 51.8%, and 8.5%, respectively. Monte Carlo simulation is applied to estimate portfolio risk at a 95% confidence level. The results indicate that the portfolio’s VaR reflects a manageable level of potential daily loss, while the CVaR reveals the average loss under extreme market conditions beyond the VaR threshold. Overall, the findings suggest that the optimal energy sector portfolio offers a balanced risk–return profile with controlled exposure to market and tail risks, providing valuable insights for risk-aware investors.                             
Pengaruh Dewan Komisaris Independen, Komite Audit, Good Corporate Governance, dan Kinerja Keuangan terhadap Pengungkapan Sustainability Report: Studi pada Perusahaan BUMN yang Terdaftar di IDX-MES BUMN 17 Tahun 2021-2024 Idu Aulia; Zuliansyah, Zuliansyah; Yusuf Bachtiar
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/vjmnvw79

Abstract

The disclosure of Sustainability Reports by State-Owned Enterprises (SOEs) plays an important role not only in complying with regulatory requirements, but also in building the company's image and stakeholder trust. This study aims to analyze the influence of Good Corporate Governance and financial performance on the disclosure of Sustainability Reports in SOEs listed on the IDX-MES BUMN 17 index for the period 2021–2024. The research sample consisted of 9 companies with a total of 36 observations obtained through purposive sampling. Data analysis was performed using descriptive statistics, classical assumption tests, and hypothesis testing with the help of Microsoft Excel and SPSS version 22. The results show that Good Corporate Governance and financial performance influence Sustainability Report disclosure, while independent boards of commissioners and audit committees do not. Simultaneously, all research variables have a significant effect on Sustainability Report disclosure.
Analisis Ruang Lingkup Sistem Bisnis Elektronik: Perspektif Teknologi, Proses Bisnis, dan Manajemen Rio Rinto Saki; Antika Zahrotul Kamalia
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/sjgqhw02

Abstract

This study aims to analyze the scope of electronic business systems from the perspectives of technology, business processes, and management through a qualitative descriptive approach based on literature review. Data were collected from textbooks, scientific journals, and relevant empirical studies discussing the development and implementation of e-business systems in various organizational contexts. The analysis focuses on key aspects, including business models, technological infrastructure, data security and privacy, as well as human resources and change management. The findings indicate that electronic business systems represent an integrated framework that extends beyond online transactions to encompass internal process integration, strategic decision-making, and value creation. Effective implementation of e-business requires alignment between business models and market characteristics, supported by reliable technology and robust data protection mechanisms. In addition, organizational readiness, digital literacy, and adaptive management play a crucial role in ensuring successful digital transformation
Penerapan Algoritma Apriori dalam Data Mining untuk Analisis Pola Pembelian pada UMKM Lokal dalam Meningkatkan Strategi Pemasaran M. Afrendi; Sugeng Prayetno; Andre Kurniawan; Ade Kurniawati; Jhovimay Deviqih
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/z0dwgz59

Abstract

A well-prepared abstract allows readers to quickly and accurately identify the basic content of a  Local MSMEs make a significant contribution to the regional economy; however, the diversity of products offered often creates difficulties for consumers in making purchasing decisions. Therefore, this study utilizes Python-based data analysis as an approach to generate product recommendations that can support the improvement of MSMEs’ marketing strategy effectiveness. This research employs a data mining method by applying the Apriori algorithm, supported by the pandas and mlxtend libraries, to analyze consumer purchasing patterns. The data processing results indicate an association between rice and cooking oil products, where rice purchases are followed by cooking oil purchases at a rate of 60%, while cooking oil purchases are followed by rice purchases at a rate of 75%. These purchasing association patterns serve as the basis for developing product recommendations, enabling MSMEs to manage inventory more optimally and design more targeted marketing strategies.
Penerapan Data Mining Naive Bayes dalam Memprediksi Dampak Faktor Ekonomi terhadap Siswa Sekolah Dasar di Lingkungan Perkebunan Trisalia Purba; Dea putri sartika; Ajeng Pratiwi; Zakaria Hasibuan
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/24dznc68

Abstract

This study aims to analyze the application of data mining using the Naive Bayes algorithm to predict the impact of economic factors on elementary school students living in plantation areas. The dataset used in this research consists of student records obtained from SDN 113820 Perkebunan Berangir, including variables such as distance from home to school, student age, early childhood education background, ownership of the Kartu Indonesia Pintar (KIP), and parental income. A total of 95 records were utilized as training data and processed using Orange software version 3.39.0. The evaluation results indicate that the Naive Bayes model achieved an accuracy of 85.3% with an Area Under Curve (AUC) value of 1.000 for both classes, demonstrating excellent classification capability. Although some misclassification occurred in the non-eligible class, the overall performance confirms that Naive Bayes is an effective and reliable classification method for analyzing socioeconomic factors in educational contexts. The findings suggest that this approach can support data-driven decision-making in educational assistance programs.
Pengaruh Viral Marketing, E-Wom, dan Label Halal terhadap Keputusan Pembelian Produk Mixue di Kalangan Pengikut Instagram @Mixueindonesia di Jabodetabek Shopia Dwi Lestari; Ditiya Himawati
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/9vcba385

Abstract

This study aims to analyze the influence of Viral Marketing, Electronic Word of Mouth (E-WoM), and Halal Label on the purchase decision of Mixue products among Instagram followers of @Mixueindonesia in the Jabodetabek area. This research uses a quantitative approach with primary data collected through questionnaires distributed to 140 respondents. Data analysis was conducted using multiple linear regression, including validity and reliability tests, classical assumption tests, t-test, F-test, and coefficient of determination. The results show that Viral Marketing has a positive effect on purchase decisions with a t-value of 3.430 and a significance level of 0.001. E-WoM also has a positive and significant effect on purchase decisions with a t-value of 3.910 and a significance level of 0.002. Meanwhile, the Halal Label variable has a t-value of 2.010 with a significance level of 0.0458, but it is not considered to have an effect on purchase decisions in this study. Simultaneously, Viral Marketing, E-WoM, and Halal Label significantly influence purchase decisions, as indicated by an F-value of 215.891 and an adjusted R-square of 0.652. These findings indicate that digital marketing strategies and consumer-to-consumer communication play a more dominant role than halal labeling in shaping purchase decisions for Mixue products.
Pengaruh Content Marketing, User-Generated Content, dan Brand Awareness terhadap Keputusan Pembelian pada Kosmetik Lokal Puji Widia Andari; Lies Handrijaningsih
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/wt8rtj97

Abstract

The research aims to analyze the influence of content marketing, user-generated content, and brand awareness on consumer purchasing decisions for kosmetik products, as well as to identify the most dominant variable. Using a quantitative approach, the research involved 130 respondents who had purchased kosmetik products at least once, selected through purposive sampling. Primary data were collected through online questionnaires and analyzed using SPSS with validity tests, reliability tests, classical assumption tests, multiple linear regression, t-tests, F-tests, and the coefficient of determination. The findings indicate that content marketing, user-generated content, and brand awareness simultaneously affect purchasing decisions. Partially, all three variables also have a positive and significant effect, with brand awareness emerging as the most dominant factor influencing consumers’ purchasing decisions..
Repercussion of Price and Promotion on Consumer Interest at CV. XYZ Business in Surabaya Achmad Daengs GS; Enny Istanti; I Gede Wiyasa
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/24w4jt66

Abstract

This study aims to examine the influence of price and promotion on consumer interest at CV. XYZ  in its embroidery business activities. The current problem faced is that CV. XYZ, as a provider of embroidery art services, is not well known among individual or corporate customers. Meanwhile, competitors in the same industry aggressively carry out promotions and advertisements through print media such as newspaper inserts, tabloids, and electronic media. This has greatly impacted the lack of consumer interest in using embroidery services, leading to a decline in CV. XYZ sales volume and its inability to compete with competitors.A quantitative approach was used in this study. Primary data was obtained from 35 respondents. The research shows that there is a significant partial influence of the price and promotion variables on consumer interest at CV. XYZ  in the embroidery business. This is demonstrated by the t-test results using SPSS software, where the t-value for Price is 31.988, which is greater than the t-table value of 2.03011, and the t-value for Promotion is 38.815.Simultaneously, it was found that Price and Promotion variables together influence Consumer Interest at CV. XYZ  in the embroidery business, with an F-value of 3252.406, which is greater than the F-table value of 2.5. The R value is 0.998 and the simultaneous determination coefficient (R square) is 0.995, meaning that 99.5% of the variation in consumer interest is influenced by Price and Promotion, while the remaining 0.5% is influenced by other variables not studied.Furthermore, this test shows that Price is the most dominant variable influencing consumer interest, as evidenced by the standardized regression coefficient (β) of 0.515, which is higher than the coefficient values for other variables.
Resilience of the Traditional Shoe Industry Amid Global Competition: An Empirical Study of Asyifa Lexus Jawa Shoes Cibaduyut Store Cut Merlinda Shintya P; Tazkia Amelia Rahmat; M Fauzan Fahriyadi; Sofia Oktavia Dewi Fasha; Muhamad Agung Aropah; Kania Indah Sari
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/k2p2qf48

Abstract

This study examines the resilience of the traditional footwear industry amid intensifying global competition through an empirical case study of Asyifa Lexus Jawa Shoes in Cibaduyut, Indonesia. Employing a qualitative descriptive approach, the research draws on in-depth interviews and direct observation to analyze how changing consumer preferences, digital marketplaces, and imported footwear influence business sustainability. The findings reveal that declining interest in handmade leather shoes among younger consumers has pressured traditional producers to reconfigure their strategies. Asyifa Lexus Jawa Shoes responds through continuous design adaptation aligned with global trends, differentiation via customized shoe production, and specialization in institutional safety footwear for the Indonesian National Armed Forces and National Police. These strategies reduce exposure to price-based competition and create stable, trust-based market relationships. The study contributes to the literature on industrial and SME resilience by demonstrating how traditional enterprises can survive globalization through focused differentiation, dynamic capabilities, and niche market penetration. Practically, the findings offer strategic insights for traditional footwear SMEs seeking to maintain competitiveness while preserving artisanal identity.
Pengaruh Kualitas Layanan dan Hubungan Pelanggan terhadap Loyalitas Konsumen Shopee di Desa Citimun Kecamatan Cimalaka Sumedang Shelly Nur Fajrianti Rahayu; Evi Sofiati
Journal of Economic and Business Advancement Vol. 1 No. 3 (2026): March: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/wpnq8196

Abstract

The rapid growth of e-commerce in Indonesia has intensified competition among digital platforms, making customer loyalty a crucial strategic asset. This study aims to analyze the effect of service quality and customer relationship on Shopee consumer loyalty in Citimun Village, Cimalaka District, Sumedang Regency. A quantitative approach with an associative and explanatory research design was employed. The results indicate that service quality significantly influences consumer loyalty through reliable systems, ease of transactions, and consistent service performance. In addition, customer relationship management plays an important role in strengthening emotional attachment and trust, which encourages repeat purchases and long-term platform usage. This study provides empirical evidence that service quality and customer relationship are key determinants of e-commerce loyalty, particularly in rural areas that are still underrepresented in previous research.

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