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INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Published by CV. Adiba Aisha Amira
ISSN : -     EISSN : 30260221     DOI : Zenodo
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INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE) is a scientific journal that publishes articles in the Business field includes conceptual ideas in the fields of Economics, Accounting, Management, business. The scopes are Human Resource Management, Marketing Management, Financial Management, Production/Operational Management, Strategic Management, Islamic Business Management, Halal Industry Management, Hajj and Umro Management, Zakat and Waqf/ Islamic Philanthropy Management, Tourism Management, Banking Management, Industrial Management, Agribusiness Management, Business Administration.
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Articles 29 Documents
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Search results for , issue "Vol. 2 No. 12 (2025): SEPTEMBER" : 29 Documents clear
THE EFFECT OF STOCK RETURNS, TRADING VOLUME, AND STOCK PRICE VOLATILITY ON THE BID-ASK SPREAD Marcelitha Riskyla; Dewa Gede Wirama
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

Stocks are the most popular investment instruments in the capital market. Investors use various types of information in their investment activities to gain maximum profit. One such piece of information is the bid-ask spread. Trading activities on the Indonesia Stock Exchange are inseparable from the movement of the distance between the bid and ask (offer), yet in general, investors tend to pay little attention to the stock bid-ask spread. Therefore, this study aims to analyze the effect of stock returns, stock trading volume, and stock price volatility on the bid-ask spread. This research was conducted on companies listed on the Indonesia Stock Exchange for the 2018–2022 period by accessing data through the official website of the Indonesia Stock Exchange (IDX). This is a quantitative study with a sample of 274 companies using probability sampling with the proportionated stratified random sampling technique. The analysis method used is multiple linear regression. The results of this study show that stock returns have a significant positive effect on the bid-ask spread, stock trading volume has a significant positive effect on the bid-ask spread, and stock price volatility also has a significant positive effect on the bid-ask spread in companies listed on the Indonesia Stock Exchange during the 2018–2022 period. This study can serve as a benchmark for determining which company stocks to invest in by analyzing variables supported by signaling theory and capital market theory, in which a liquid or efficient capital market encourages investors to participate in investment activities.
MARKET REACTION TO BI7DRR FLUCTUATIONS (EVENT STUDY ON LQ45 STOCK INDEX) Fajri Mas Afifah; Made Reina Candradewi; Ni Putu Santi Suryantini; Luh Gede Sri Artini
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

Market reaction shows how investors respond to information, which affects the stock price and trading volume. Analyzing market reaction is important for companies and investors. The BI7DRR policy is important information that causes a reaction in the stock market. The published information is part of the efficient market in semi-strong form, which was examined by the event study. This study aims to examine the market reaction using average abnormal return and average trading volume activity. The research sample consists of 23 companies, which continuously listed on LQ45 Stock Index, selected using purposive sampling. To examine the hypotheses, this study uses the Paired Sample T-Test and the Wilcoxon Signed Rank Test. The research found a difference in average abnormal return before and after BI7DRR interest rate cut, while the average trading volume activity showed no difference before and after the event. Conversely, the market reaction test during the interest rate hike shows a difference in the average abnormal return and the average trading volume activity before and after the event. These conditions indicate that the stock market reacted significantly to the information and was inefficient in semi-strong form.
DETERMINANTS OF INCOME FOR FASHION MSMEs IN DENPASAR CITY, BALI PROVINCE Akhmad Sohibul Wafa; I Nyoman Wahyu Widiana
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

In the structure of Indonesia’s economy, Micro, Small, and Medium Enterprises (MSMEs) constitute the majority of business entities and make a significant contribution to the gross domestic product. This study aims to examine the effect of business capital, labor, e-commerce utilization, business duration, and working hours on the income of fashion MSMEs in Denpasar City, Bali Province, both simultaneously and partially. This research employs a quantitative approach using both primary and secondary data sources. Primary data were collected through questionnaires distributed to 99 MSME owners, selected using purposive sampling. The data collection instrument was a questionnaire, and the data analysis method applied was multiple linear regression. The findings indicate that, simultaneously, business capital, labor, e-commerce utilization, business duration, and working hours have a significant effect on the income of fashion MSMEs in Denpasar City. Partially, business capital, labor, e-commerce utilization, and business duration have a positive and significant effect on income. However, working hours show a negative and significant effect on income, suggesting that an increase in working hours without corresponding efficiency or productivity may adversely impact business performance. The study provides policy insights for optimizing capital use, enhancing labor productivity, promoting digital adoption, and managing working hours effectively to boost MSME income in the fashion secto.
DETERMINANTS OF POVERTY IN FIVE REGENCIES OF EAST JAVA PROVINCE Noor Shania Wardaningrum; Putu Ayu Pramitha Purwanti
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

Poverty remains one of the main challenges in achieving sustainable economic development, particularly in regions with high industrial potential but persistent poverty rates. East Java Province is recognized as one of Indonesia’s leading manufacturing hubs; however, several regencies still record relatively high poverty levels. This study aims to analyze the effects of the manufacturing sector’s contribution, the Human Development Index (HDI), district minimum wages (UMK), and the open unemployment rate (OUR) on poverty levels in five key industrial regencies—Malang, Pasuruan, Mojokerto, Tuban, and Gresik—over the period 2014–2023. Panel data regression with a Fixed Effects Model (FEM) approach was employed. The findings reveal that, simultaneously, all four independent variables significantly affect poverty levels. Partially, only HDI exerts a negative and significant influence, while the manufacturing sector contribution, UMK, and OUR show no significant effect. These results underscore that improving quality of life through HDI enhancement is more effective in reducing poverty than relying solely on manufacturing sector growth. Therefore, poverty alleviation policies should prioritize human capital development and equitable distribution of economic benefits at the regional level.
THE EFFECT OF ENTERPRISE RISK MANAGEMENT DISCLOSURE, BONDING COST REDUCTION, AND MANAGERIAL OWNERSHIP ON FIRM VALUE Kadek Naraya Yoga Semadi; Gerianta Wirawan Yasa
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

Firm value refers to the total economic value of a company and serves as an important indicator reflecting its performance, profitability potential, growth, and competitiveness in the market. This study aims to provide empirical evidence regarding the effect of enterprise risk management (ERM) disclosure, bonding cost reduction, and managerial ownership on firm value. The study was conducted on technology sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. A total of 72 observations were obtained using non-probability sampling, specifically purposive sampling. Data were collected through non-participant observation by accessing the official IDX website and the respective companies’ websites. The analytical method employed was multiple linear regression analysis. The results show that ERM disclosure and managerial ownership have a positive effect on firm value, while bonding cost reduction has no significant effect. These findings reinforce agency theory and the economics of information theory, highlighting the important role of ERM disclosure and managerial ownership in enhancing firm value through reducing agency conflicts and information asymmetry. Meanwhile, the findings regarding bonding cost reduction provide theoretical development opportunities and open avenues for evaluating the long-term effectiveness of internal monitoring mechanisms.
DETERMINANTS OF PURCHASE INTENTION FOR ELECTRIC MOTORCYCLES IN DENPASAR CITY David Sinarta; Anak Agung Ketut Ayuningsasi
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

Global warming poses a significant challenge to sustainable development. Various countries are exploring deeper strategies to achieve a low-carbon and sustainable economy. Indonesia is among the largest contributors to carbon emissions, particularly from the transportation sector. Electric vehicles have substantial potential to reduce carbon emissions and support a cleaner energy transition. The implementation of electric vehicles is expected to reduce dependence on fossil fuels and improve energy efficiency. Therefore, this study aims to analyze the influence of perceived usefulness, perceived ease of use, motor vehicle tax (PKB) incentives, and income on the purchase intention of electric motorcycles in Denpasar City. The sampling method employed was purposive sampling, a type of non-probability sampling, with a total of 100 respondents. Data collected through questionnaires were analyzed using multiple linear regression analysis. The findings indicate that perceived usefulness, perceived ease of use, motor vehicle tax (PKB) incentives, and income simultaneously have a significant effect on the purchase intention of electric motorcycles in Denpasar City. Partially, the results also show that each of these variables perceived usefulness, perceived ease of use, motor vehicle tax (PKB) incentives, and income has a positive and significant effect on purchase intention.
THE ECONOMICS OF AI-DRIVEN PRODUCTIVITY: ARE TRADITIONAL GROWTH MODELS OBSOLETE? Loso Judijanto; Novira Fazri Nanda; Baskoro Ajie
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

This study aims to analyze the relevance of traditional economic growth models in the context of artificial intelligence-driven productivity gains. The rapid development of AI has triggered significant changes in the structure of production, distribution, and consumption, raising questions about whether classical theoretical frameworks such as the Solow growth model, endogenous theory, and human capital-based models are still capable of explaining modern growth dynamics. Using a literature review, this study examines recent empirical and theoretical findings related to AI's contribution to productivity, its impact on labor markets, and its implications for income distribution. The analysis shows that AI introduces a new factor of production, "algorithmic capital," characterized by high scalability and low marginal costs, potentially shifting the fundamental assumptions of conventional growth models. Furthermore, the disruptive nature of AI has the potential to create wider productivity gaps between countries and industries, not fully captured by traditional models. The study concludes that while classical growth models remain relevant as a foundation for analysis, adaptations to the theoretical framework are needed to integrate the role of AI technology as a key determinant of 21st-century productivity. The study also recommends the development of a hybrid growth model capable of capturing the dynamics of exponential technology and the more asymmetric distribution of benefits.
THE INFLUENCE OF SUSTAINABILITY REPORTING ON INVESTOR DECISIONS IN MANUFACTURING COMPANIES Antoni Antoni
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

This research aims to analyze the influence of sustainability reporting on investor decisions in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The research uses a quantitative approach with an explanatory method. The research population includes all manufacturing companies that publish sustainability reports, with sample selection done thru purposive sampling. The data used consists of secondary data in the form of annual reports and sustainability reports, as well as optional primary data from questionnaires or interviews with investors. The independent variable is sustainability reporting, measured using ESG (Environmental, Social, Governance) indicators, while the dependent variable is investor decisions. Data analysis techniques include validity and reliability testing, multiple linear regression analysis, and hypothesis testing (t-test, F-test, and coefficient of determination). The research findings indicate that sustainability reporting significantly impacts investor decisions, with environmental and governance aspects being the most dominant factors. Companies with high compliance levels with GRI or POJK standards tend to attract greater investor interest and achieve higher stock trading volumes. This finding confirms that sustainability reporting is not only a regulatory obligation, but also an effective business strategy for building trust and corporate reputation. The recommendations of this research encourage companies to improve the quality of their sustainability reporting, and for regulators to strengthen policies and oversight to create a healthy, transparent, and sustainable investment climate.
OMNICHANNEL MARKETING STRATEGY AND ITS IMPACT ON CUSTOMER SATISFACTION IN RETAIL Parmini Parmini; Farida Akbarina
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.17262953

Abstract

The development of digital technology has changed consumer shopping behavior and prompted retail businesses to adopt omnichannel marketing strategies. This literature review aims to analyze the role of channel integration, service consistency, personalization of customer experience, and speed of response and after-sales service on customer satisfaction. The review results indicate that channel integration simplifies transactions and reduces purchasing barriers, while consistent service across all touchpoints strengthens customer trust. Data-driven personalization can create relevant shopping experiences and increase perceived value, while faster response times thru technologies like chatbots and real-time support contribute to customer loyalty. This finding confirms that a well-planned and technology-supported omnichannel strategy can enhance retail competitiveness in an increasingly competitive market. This study also recommends further research with an empirical approach to quantitatively measure the direct influence of these variables on customer satisfaction and loyalty.
THE INFLUENCE OF DIGITAL FINANCIAL LITERACY ON STUDENT FINANCIAL BEHAVIOR IN THE DIGITAL ECONOMY ERA Syahrial Hasanuddin Pohan; Nova Yanti Maleha; Muhammad Naihul Author
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

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Abstract

This study aims to examine the influence of digital financial literacy on students' financial behavior in the digital economy era thru a literature review approach. Digital financial literacy is defined as the ability to access, understand, and utilize technology-based financial information for sound financial decision-making. This study collected data from journal articles, books, and official reports published in the last ten years, which were then analyzed using thematic analysis and narrative synthesis methods. The study results indicate that students with high levels of digital financial literacy tend to exhibit healthy financial behaviors, such as budgeting, controlling spending, saving, and investing systematically. Conversely, low digital financial literacy is associated with consumerist behavior, impulsive buying, and low awareness of the security of personal financial data. This finding underscores the importance of digital financial literacy education and training strategies for students to cultivate sustainable financial behavior amidst the increasingly rapid advancements in financial technology.

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