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Contact Name
Hendri Mauliansyah
Contact Email
Hendri.mauliansyah@gmail.com
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+6285234567882
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globalreseacrh.great@gmail.com
Editorial Address
Jalan Bahagia No.17 C, Dusun Lampoh Lubhouk, Desa Punge Blang Cut, Kecamatan Jaya Baru Kota Banda Aceh, Provinsi Aceh, Indonesia
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Aceh
INDONESIA
Global Research in Economics and Advanced Theory
ISSN : -     EISSN : 31233449     DOI : -
GREAT (Global Research in Economics and Advanced Theory) (ISSN-E 3123-3449) adalah jurnal internasional yang menggunakan sistem peer review ganda dan terbuka, yang menerima artikel penelitian berkualitas tinggi, asli, dan didukung secara teoritis di bidang ekonomi. Hal ini mencakup, namun tidak terbatas pada, studi di bidang manajemen, akuntansi, akuntansi Islam, keuangan, strategi bisnis, kewirausahaan, dan bidang lain yang terkait dengan pengembangan ekonomi dan bisnis. Jurnal GREAT diterbitkan oleh Gabungan Riset Edukasi dan Eksplorasi Teori. Jurnal ini menerbitkan berbagai karya akademik, termasuk artikel penelitian, makalah konseptual, laporan studi kasus, ulasan, dan pembahasan tentang isu-isu kontemporer dalam ekonomi dan bisnis (lihat Tujuan dan Ruang Lingkup & Etika dan Pelanggaran). Artikel dalam jurnal ini diterbitkan empat kali setahun (empat edisi per tahun), pada bulan Februari, Mei, Agustus, dan November. Manfaat bagi Penulis: Kami juga menyediakan berbagai manfaat bagi penulis, seperti akses gratis ke PDF yang diterbitkan, kebijakan hak cipta akses terbuka, dan visibilitas internasional yang luas.
Articles 40 Documents
THE EFFECT OF RELATIONSHIP MARKETING STRATEGIES ON CUSTOMER LOYALTY IN ISLAMIC BANKS Muhammad Ridha Fuady
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 1 (2025): GREAT Journal
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This study investigates the effect of relationship marketing strategies on customer loyalty in Islamic banks, where trust, transparency, and adherence to Sharia principles are central. Using a descriptive-analytical research design with a mixed-methods approach, data were gathered from 500 customers across Indonesia through structured questionnaires and semi-structured interviews, analyzed with descriptive statistics, regression analysis, and thematic analysis. Findings reveal a strong positive correlation (r = 0.72, p < 0.01) between strategies such as personalized communication, customer engagement initiatives, and loyalty programs with customer loyalty, with trust emerging as the most influential factor (M = 4.5), followed by customer satisfaction (M = 4.4) and perceived value (M = 4.3). Case evidence, such as Bank Syariah Mandiri’s loyalty program, demonstrated a 25% increase in customer satisfaction and a 15% growth in referrals, while technology adoption, especially mobile banking and CRM systems, and community-oriented CSR programs further strengthened customer bonds. These results align with relationship marketing theory emphasizing relational over transactional value, concluding that Islamic banks can achieve sustainable loyalty and competitive advantage by integrating ethical practices, innovative Sharia-compliant products, digital engagement, and socially responsible initiatives.
FROM CASH TO QRIS: THE IMPACT OF DIGITAL PAYMENT SYSTEMS ON MICRO ENTERPRISE SALES Mila Fitri Sundari
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 1 (2025): GREAT Journal
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This study examines the impact of the Quick Response Code Indonesian Standard (QRIS) on sales performance among micro enterprises in Indonesia, a sector that represents over 99% of national businesses and plays a critical role in employment and economic resilience. Using a mixed-methods design, data were collected through surveys of 200 micro enterprises across the food, retail, and service sectors, complemented by semi-structured interviews with 20 business owners. The quantitative results reveal that QRIS adoption increased average sales by 35% within six months, with the food and beverage sector experiencing the highest growth at 45%. Regression analysis confirms a positive and significant association between QRIS usage and revenue growth (p < .01), while qualitative findings emphasize improved transaction efficiency, enhanced customer loyalty, and greater attractiveness to younger, digitally literate consumers. Despite these benefits, challenges remain in digital literacy, infrastructure, and security. By providing empirical evidence from an underexplored context, this study contributes to the literature on digital financial inclusion and the role of technology in supporting micro enterprise competitiveness. The findings highlight both managerial and policy implications for accelerating inclusive digital transformation in emerging economies.
EARNINGS MANAGEMENT PRACTICES BEFORE AND AFTER THE IMPLEMENTATION OF PSAK 73 Nabila Putri Ardana
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 1 (2025): GREAT Journal
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Earnings management has long been a concern for regulators and investors, as it undermines the credibility of financial reporting and distorts stakeholders’ decision-making. In Indonesia, the adoption of PSAK 73 on lease accounting, aligned with IFRS 16, represents a major regulatory reform intended to enhance transparency by eliminating opportunities for off-balance-sheet financing. This study investigates how earnings management practices evolved before and after the implementation of PSAK 73, with particular attention to managerial behavior, corporate governance, and industry-specific contexts. Using a qualitative approach, the research combines semi-structured interviews with financial managers and executives, supported by document analysis of corporate financial statements and regulatory filings. The findings reveal that prior to PSAK 73, 65% of listed firms engaged in aggressive earnings manipulation through lease classification and income smoothing, often driven by short-term performance pressures. After implementation, such practices decreased to 45%, accompanied by a decline in earnings management scores and a cultural shift toward long-term sustainability and accountability. The study highlights transparency, governance, regulatory influence, stakeholder pressure, and managerial incentives as key themes shaping corporate responses. These results contribute to the literature on accounting standards and financial ethics by demonstrating that PSAK 73 not only reduces manipulation opportunities but also fosters ethical reporting practices. The study further offers implications for regulators, auditors, and investors, while suggesting cross-country and longitudinal research for future exploration.
AN EVENT STUDY OF MARKET REACTION TO PRESIDENTIAL ELECTION ANNOUNCEMENTS IN INDONESIA Fitratul Huda
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 1 (2025): GREAT Journal
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This study examines how presidential election announcements influence Indonesia’s financial markets, focusing on the Jakarta Composite Index (JCI). Using an event study methodology with data from the 2019 and 2024 election cycles, we analyze abnormal returns across key political announcements. The findings show that candidate introductions trigger the strongest positive market reactions, particularly in consumer goods and financial services, while infrastructure and mining exhibit weaker responses. Elevated volatility and trading volumes underscore heightened uncertainty, yet also highlight investor sensitivity to credible and transparent economic agendas. These results provide new evidence on the interaction between politics and markets in an emerging democracy, offering practical insights for investors in portfolio allocation and for policymakers seeking to maintain stability through clear communication.
IMPLEMENTATION OF OJK’S GOOD CORPORATE GOVERNANCE GUIDELINES IN ISLAMIC FINANCIAL INSTITUTIONS: COMPLIANCE AND CHALLENGES Selvie Anggraeni Noer
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 1 (2025): GREAT Journal
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This research critically investigates the implementation of the Financial Services Authority’s (OJK) Good Corporate Governance (GCG) guidelines in Indonesia’s Islamic financial institutions (IFIs), with a focus on compliance outcomes, operational challenges, and the interplay between Shariah governance and conventional regulatory frameworks. The study addresses a critical gap in prior research, which has often treated Shariah compliance and GCG as separate domains, by examining their integration in a single governance model. A mixed-methods approach was employed, combining semi-structured interviews with executives and Shariah Supervisory Board members, structured surveys quantifying adherence levels, and document analysis of governance policies and annual reports. Findings reveal a sector-wide compliance rate of 75%, with larger IFIs—such as Bank Syariah Indonesia—achieving above 80% compliance due to more mature governance infrastructures, while smaller IFIs remain at approximately 60% due to resource and expertise limitations. The research identifies internal barriers, including limited GCG awareness among staff and inadequate training, as well as external pressures such as complex regulatory demands and competitive market dynamics. The novelty of this study lies in its sector-wide empirical assessment that bridges theoretical governance models with real-world operational realities, offering granular insights into the structural, cultural, and regulatory factors that shape GCG effectiveness in IFIs. The findings hold significant implications for policymakers, regulators, and industry practitioners seeking to design targeted interventions that enhance governance quality, ensure Shariah-compliant ethical standards, and promote sustainable growth in the Islamic finance sector.
DIGITAL MARKETING STRATEGIES FOR CULINARY MSMEs THROUGH TIKTOK AND INSTAGRAM Budi Safatul Anam; Hendri Mauliansyah
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 2 (2025): GREAT Journal
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This study examines effective digital marketing strategies for culinary micro, small, and medium enterprises (MSMEs) through TikTok and Instagram, addressing critical gaps in current literature. While Instagram’s visual marketing and influencer collaborations are well-documented, TikTok’s potential for culinary MSMEs remains underexplored. Furthermore, existing studies often prioritize large corporations, overlooking the resource constraints, cultural narratives, and analytics utilization challenges faced by smaller businesses. This research employs a mixed-methods approach, combining semi-structured interviews with 200 culinary MSME owners and quantitative analysis of social media engagement data. Qualitative findings highlight the significance of culturally grounded storytelling, user-generated content, and micro-influencer collaborations in building brand authenticity and trust. Quantitative results indicate that TikTok excels in rapid engagement, with average engagement rates surpassing Instagram, while Instagram demonstrates stronger performance in long-term visibility and conversion through integrated shopping features. Analytics-driven decision-making emerged as a key factor in optimizing content performance, yet many MSMEs lack the skills to effectively interpret and act on these insights. The study proposes a comprehensive framework for digital marketing effectiveness that extends beyond surface-level metrics to include customer retention, repeat purchases, and revenue growth. These findings contribute to both academic discourse and practical guidance, offering MSMEs actionable strategies to leverage platform-specific strengths, integrate cultural storytelling, and utilize analytics for sustainable growth. By aligning content creation with platform algorithms and audience preferences, culinary MSMEs can remain competitive in an increasingly digital and dynamic market environment.
THE ROLE OF BOARD DIVERSITY IN ENHANCING FINANCIAL PERFORMANCE: EVIDENCE FROM INDONESIAN BANKING INDUSTRY Yesi Anggraini
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 2 (2025): GREAT Journal
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This study examines the impact of board diversity on the financial performance of banks in Indonesia, highlighting the role of gender, ethnicity, and professional experience in strengthening governance and organizational outcomes. Using panel data from 30 publicly listed banks over the period 2018–2023, the analysis applies correlation and multiple regression models with financial performance indicators measured by return on assets (ROA) and return on equity (ROE). The results reveal a significant positive association between board diversity and financial performance, suggesting that banks with more heterogeneous boards achieve higher profitability and improved resilience. Specifically, gender diversity and ethnic representation demonstrate robust effects on both ROA and ROE, while professional background enhances decision-making efficiency. These findings are consistent with the resource-based view, which emphasizes diverse boards as valuable strategic assets that enhance innovation, reduce risk, and improve stakeholder trust. The study contributes to the literature by providing empirical evidence from an emerging market context, where research on board diversity remains limited. Practical implications are offered for regulators and policymakers in Indonesia to strengthen diversity-related governance policies, while banks are encouraged to implement inclusive recruitment strategies to optimize financial outcomes.
THE EFFECT OF SUSTAINABILITY REPORTING ON FIRM VALUE: EVIDENCE FROM IDX-LISTED COMPANIES Maghfirah
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 2 (2025): GREAT Journal
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This study investigates the effect of sustainability reporting on firm value among companies listed on the Indonesia Stock Exchange (IDX). Employing a mixed-methods approach, it analyzes financial and sustainability data from 100 firms between 2020 and 2023 and supplements it with executive interviews. Firm value was measured using market capitalization, stock performance, and return on equity (ROE), while disclosure quality was assessed through GRI and SASB frameworks. Results show that firms with higher-quality reports achieve stronger financial performance and investor trust, exemplified by PT Astra International Tbk’s 20% stock price increase following its report. Sectoral analysis indicates consumer goods companies lead in proactive sustainability practices, while mining and energy firms face reporting challenges. Overall, sustainability reporting emerges as a strategic tool for accountability, competitiveness, and long-term value creation in emerging markets.
THE IMPACT OF DIGITAL BANKING ON CUSTOMER LOYALTY IN ISLAMIC BANKS IN INDONESIA Amanda Frizka
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 2 (2025): GREAT Journal
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This study examines how digital banking influences customer loyalty in Islamic banks in Indonesia, where technology adoption must comply with Shariah principles. Using a mixed-methods design, data were collected from a survey of 500 customers and interviews with 30 respondents. Regression analysis shows that digital banking adoption has a significant positive effect on loyalty, with service quality, ease of use, transaction security, and accessibility emerging as the strongest drivers. The results also highlight the unique role of Shariah compliance and ethical practices in building trust and sustaining customer relationships. Younger generations, particularly millennials and Gen Z, demonstrated stronger loyalty toward banks offering seamless mobile applications and personalized digital services. The findings contribute to the literature by extending the study of digital banking beyond conventional finance and into the underexplored Islamic banking sector. Practically, the study suggests that Islamic banks must integrate advanced digital features with Shariah-compliant values to secure long-term loyalty. Investment in cybersecurity, user experience, and innovative ethical financial products will be critical for achieving sustainable competitive advantage in the digital era.
THE INFLUENCE OF CLAIM SERVICE QUALITY ON CUSTOMER LOYALTY: A STUDY ON GENERAL INSURANCE IN INDONESIA Hayatun Maghfirah
GLOBAL RESEARCH IN ECONOMICS AND ADVANCE THEORY (GREAT) Vol 2 No 2 (2025): GREAT Journal
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This study examines the relationship between trading volume and stock price volatility in the Indonesian capital market, an emerging market characterized by rapid retail investor participation and sensitivity to global shocks. Using daily data from 100 firms listed on the Indonesia Stock Exchange (IDX), including LQ45 constituents, over the period 2018–2023, the analysis employs panel regression and correlation models with firm size, sector, interest rates, and inflation as control variables. Stock price volatility is measured by the standard deviation of daily returns, while trading volume is captured through absolute and average daily activity. The results reveal a strong positive association between trading activity and price volatility, with a correlation coefficient of 0.65 (p < 0.01). Regression findings indicate that a 1% increase in trading volume corresponds to a 0.5% rise in volatility, confirming that heightened trading intensifies price fluctuations. Sectoral heterogeneity is also evident: technology stocks exhibit the highest sensitivity (r = 0.72), whereas consumer goods show relatively moderate responses. The study contributes to the literature by providing the first large-scale, sector-based empirical evidence from Indonesia, underscoring the importance of trading volume as a volatility driver. Practical implications are offered for investors, regulators, and policymakers in managing risk and fostering market stability.

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