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Nomico
Published by PT Anagata Sembagi Education
ISSN : -     EISSN : 30466318     DOI : https://doi.org/10.62872/apwm7d39
Core Subject : Economy,
Economics, Econometrics & Finance
The journal publishes original articles on current issues and trends occurring internationally in accounting, financial accounting, public sector accounting, auditing, economics, economics education, development economics, economic statistics, monetary economics, international economics, microeconomics, macroeconomics, econometrics, public economics, economic sociology.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 212 Documents
 17   18   19   20   21 
Analysis of Factors Affecting Tax Aggressiveness in Public Companies Loso Judijanto
Nomico Vol. 2 No. 10 (2025): Nomico-November
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/3d83ss69

Abstract

This study analyses the factors that influence tax aggressiveness in public companies by examining the interaction between company financial characteristics, governance structure, and institutional environment. Using a quantitative panel data research design, this study evaluates 84 firm-year observations from Indonesia and Malaysia using fixed effects and random effects models to test how leverage, profitability, company size, ownership concentration, and governance quality influence tax aggressiveness as measured by cash effective tax rate and book-tax differences. The findings show that higher leverage and profitability increase tax aggressiveness, while greater board independence and better audit quality decrease it. Institutional factors such as regulatory enforcement, legal clarity, and audit intensity moderate corporate behaviour and shape the level of tax aggressiveness. The results of the study reveal that tax aggressiveness is not driven by a single variable, but is the result of a combination of financial incentives and institutional opportunities. Companies operating in a weak regulatory environment exhibit higher tax aggressiveness, confirming the role of institutional quality in shaping compliance. This study concludes that reducing tax aggressiveness requires comprehensive reforms that integrate the strengthening of corporate governance with improvements in law enforcement and regulatory clarity. These findings contribute by offering a multidimensional analysis that combines internal and external determinants of tax behaviour
The Implications of the Global Minimum Tax on the Tax Strategies of Multinational Companies in Indonesia Loso Judijanto
Nomico Vol. 2 No. 10 (2025): Nomico-November
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/h5pmz708

Abstract

This study analyzes the implications of the Global Minimum Tax for the tax strategies of multinational enterprises operating in Indonesia. Using a mixed conceptual policy approach, the research integrates doctrinal analysis of the Global Anti-Base Erosion framework with an economic evaluation of multinational behavioral responses. The findings show that the Global Minimum Tax fundamentally reshapes incentives for profit shifting, tax arbitrage, and the use of preferential regimes. Multinational enterprises are expected to revise strategies related to intellectual property placement, intra-group financing, and transfer pricing as low-tax structures lose effectiveness under top-up tax mechanisms. For Indonesia, the policy impact is substantial: traditional tax incentives such as holidays and special economic zone benefits become less attractive, prompting a shift toward expenditure-based and non-tax incentives. The study further reveals that Indonesia must strengthen regulatory certainty, administrative capacity, and digital tax infrastructure to implement the Global Minimum Tax effectively. Strategic adjustments are also required in investment policy, emphasizing infrastructure quality, human capital, and institutional stability as key competitiveness drivers. The research concludes that the Global Minimum Tax presents both opportunities and challenges for Indonesia, offering potential revenue gains while demanding comprehensive structural reforms to maintain investment attractiveness and align with global tax standards.             
Evaluation of the Effectiveness of Post-Pandemic MSME Tax Incentives on Local Economic Performance Loso Judijanto
Nomico Vol. 2 No. 10 (2025): Nomico-November
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/sw76xv68

Abstract

This study evaluates the effectiveness of post-pandemic tax incentives for micro, small, and medium enterprises in Indonesia and examines their impact on local economic performance. Using a combined conceptual and policy analysis approach, the research assesses how behavioural, structural, and institutional factors mediate the ability of MSMEs to convert tax relief into meaningful economic outcomes. The findings indicate that MSME responses to tax incentives are strongly influenced by business formality, liquidity constraints, digital readiness, sectoral composition, and information accessibility. Regions with stronger administrative capacity, higher digitalization, and greater purchasing power demonstrate more substantial improvements in employment recovery, business reopening rates, and local consumption. Structural factors such as regulatory clarity, financial inclusion, supply chain integration, human capital quality, and infrastructure development further shape the sustainability of tax incentive impacts. The study concludes that while tax incentives play an important role in supporting MSME recovery, their long-term effectiveness depends on broader institutional reforms that enhance administrative capability, promote digital access, strengthen financial systems, and improve local governance. Strengthening these structural conditions will expand the capacity of MSMEs to benefit from fiscal incentives and contribute to more resilient and inclusive local economic growth.    
The Effect of Corporate Social Responsibility Disclosure, Leverage, and Company Size on Company Value with Profitability as a Moderating Variable (Case Study of Energy Sector Companies Listed on the IDX in 2020-2023) Riska Huliawati; Netty Herawaty; Wiwik Tiswiyanti
Nomico Vol. 2 No. 10 (2025): Nomico-November
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/se9f2e49

Abstract

This study aims to determine the effect of Corporate Social Responsibility (CSR), leverage, and company size on firm value, with profitability as a moderating variable. The study population comprised energy sector companies listed on the Indonesia Stock Exchange (IDX) in 2020-2023. This study employed a quantitative method with secondary data in the form of company annual reports. The results show that CSR has a positive effect on firm value. Leverage has a negative effect on firm value. Company size has a positive effect on firm value. Profitability moderates the influence of CSR, leverage, and company size on firm value
Fiscal Efficiency and Public Service Innovation in the Era of Digitalization of Indonesian Government Muh. Nur
Nomico Vol. 2 No. 10 (2025): Nomico-November
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/a5r5gh34

Abstract

This study examines how digital transformation influences fiscal efficiency and public service innovation in Indonesia by integrating global evidence with national policy analysis. Using a mixed method approach that combines conceptual frameworks with secondary data on Indonesia’s digital governance initiatives, the study finds that digital transformation contributes to fiscal optimization through administrative simplification, improved transparency, automated workflows and enhanced data integration. Innovations such as e procurement, online licensing and digital budgeting demonstrate measurable reductions in transaction costs and increased accountability in several regions. However, the effectiveness of these initiatives is constrained by structural barriers including unequal digital infrastructure, limited human resource capacity, fragmented interoperability, cultural resistance and inconsistent leadership commitment across administrative levels. Governance dynamics within Indonesia’s decentralized system produce variations in digital readiness, which in turn shape the extent of efficiency gains and service improvements. The study concludes that digital transformation can significantly enhance fiscal performance when supported by coordinated regulatory frameworks, strengthened institutional capacity, standardized data governance and sustained investment. These findings highlight the need for integrated national strategies that combine technological development with organizational reform to ensure inclusive and long term public sector modernization.
Circular Economy Practices and Profitability in Indonesian Manufacturing: Structural Enablers, Barriers, and Sectoral Divergence Fitria Husnatarina
Nomico Vol. 2 No. 11 (2025): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/jqqkw312

Abstract

  The shift toward a circular economy has become increasingly important for Indonesia’s manufacturing industry as firms face rising material costs, environmental pressures, and global competitiveness demands. However, evidence on the profitability implications of circular practices remains fragmented and sector-dependent. This study examines how circular economy implementation influences profitability in Indonesian manufacturing firms through a Systematic Literature Review guided by the PRISMA 2020 protocol. Forty-two relevant studies were synthesized to evaluate the economic effects of practices such as recycling, remanufacturing, industrial symbiosis, eco-design, and service-based business models. The findings indicate that circular adoption enhances profitability mainly through cost efficiency, reduced reliance on virgin materials, operational stability, and new revenue creation. Nevertheless, profitability outcomes diverge across sectors and firm types, shaped by technological readiness, supply chain maturity, access to capital, regulatory certainty, and human capital capability. This review contributes by clarifying the structural conditions under which circular economy practices translate into financial gains in emerging manufacturing contexts.
The Role of Brand Image in Mediating Sales Promotion and Perceived Ease of Use Toward Purchase Decisions for Fashion Products Among Zalora Marketplace Consumers in Jember Ardini Manzilatun Nikmah; Raden Andi Sularso; Bambang Irawan
Nomico Vol. 2 No. 11 (2025): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/ezsdrn90

Abstract

This study aims to analyze the influence of sales promotion and perceived ease of use on purchasing decisions of fashion products among Zalora consumers in Jember, with brand image as a mediating variable. This research employs a quantitative approach by distributing questionnaires to respondents who have made purchases through the Zalora platform. Data were analyzed using Partial Least Square (PLS) to examine both the structural model and measurement model, enabling evaluation of direct and indirect relationships among the research variables. The results indicate that sales promotion and perceived ease of use have a positive and significant influence on purchasing decisions. Furthermore, sales promotion and perceived ease of use are found to positively affect brand image. The findings also show that brand image significantly influences purchasing decisions. Mediation testing confirms that brand image mediates the relationship between sales promotion and perceived ease of use on purchasing decisions, demonstrating the strategic role of brand image in strengthening the impact of marketing stimuli and digital platform experience on consumer purchasing decisions on Zalora in Jember.
Sensing without Seizing: The Institutional Barriers to AI Adoption in Indonesian MSMEs Dadet Sugiarto; Eryco Muhdaliha; Jemmy Jemmy; Selamet Riyadi
Nomico Vol. 2 No. 11 (2025): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/e7650540

Abstract

Despite strong policy support, the adoption of Artificial Intelligence (AI) among Indonesian Micro, Small, and Medium Enterprises (MSMEs) remains critically low, creating a notable "digital paradox." This study investigates the "gap between sensing and seizing," defined as the disparity between awareness of AI opportunities and deployment capability. Integrating Dynamic Capabilities Theory and Institutional Theory, we examine how internal organizational capabilities intersect with contextual barriers. Utilizing an interpretivist approach based on the Gioia Methodology, data were analyzed from 28 MSMEs in the Special Region of Yogyakarta through indepth interviews, focus group discussions, and document analysis. The analysis reveals that while sensing capability is widespread, it relies heavily on informal peer networks and is constrained by a cognitive mismatch regarding the relevance of AI for small businesses. Seizing capability is hampered less by financial constraints than by weak absorptive capacity and challenges in assessing return on investment. Transforming capabilities among early adopters are incremental and highly dependent on external ecosystem support. The study concludes that this adoption gap reflects institutional voids, specifically infrastructure inequality and regulatory uncertainty, rather than a lack of entrepreneurial will. These findings refine the theoretical understanding of technology adoption in developing economies and offer strategic guidance for policymakers and technology providers.
The Impact of Financial Inclusion on MSME Growth in Developing Countries: A Regional Comparative Study Ida Ayu Putu Megawati; Made Ratih Nurmalasari; Putu Putri Prawitasari; Ni Putu Ari Krismajayanti; Ni Nengah Rupadi Kertiriasih
Nomico Vol. 2 No. 11 (2025): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/myfkbn74

Abstract

This study aims to analyze the impact of financial inclusion on MSME growth in Bali, Indonesia, and Malaysia. Using Structural Equation Modeling (SEM), the study examines the relationship between financial inclusion, measured by access to financial services, financial literacy, and government policies, and MSME growth, measured by revenue, number of employees, and business expansion. The results show that financial inclusion positively impacts MSME growth in both countries, with a greater effect in Malaysia. In Bali, although financial inclusion has a positive effect, the impact is smaller due to lower financial literacy and limited access to financial services. In Malaysia, more advanced financial inclusion policies and broader fintech access contribute significantly to MSME growth. This study suggests that to foster MSME growth, more structured financial inclusion policies, as well as improving financial literacy and access to financial services, should be a primary focus
Strategic Customer Engagement and Conditional Loyalty in Herbal E-Commerce: An Ethical SDL Perspective Abdul Rohman; Andreas Cahya U.R.P Saragih; Sosidah Sosidah; Selamet Riyadi
Nomico Vol. 2 No. 11 (2025): Nomico-December
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/c72k1082

Abstract

Indonesia’s herbal e-commerce market presents a distinctive paradox: while exhibiting steady annual growth of 6.2% within the global wellness economy, the ecosystem grapples with a structural trust deficit stemming from the prevalence of product adulteration. Through the lens of Service-Dominant Logic (SDL), this qualitative interpretive study investigates how strategic engagement shapes loyalty within this high-risk context. Drawing on in-depth interviews with 18 consumers and sellers, the analysis demonstrates that successful market actors navigate this deficit not through transactional efficiency, but through Ethical Resource Integration establishing regulatory compliance as a moral value proposition—and Developmental Engagement, a mechanism that elevates consumer health literacy. This interaction fosters heteropatric value co-creation, culminating in a distinct state of Conditional Loyalty: a vigilant adherence where emotional attachment is contingent upon continuous safety validation. Theoretically, this study extends SDL by positioning ethical capabilities as critical antecedents to engagement in regulated health markets. From a managerial perspective, the findings suggest that sustainable value arises less from price competition and more from the seller's evolution into an ethical health advisor within a multi-actor governance ecosystem

Page 19 of 22 | Total Record : 212

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