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Harmoni Economics: International Journal of Economics and Accounting

HarmoniEconomics
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Published by International Forum of Researchers and Lecturers

ISSN : 30636205 EISSN : 30638712 DOI : https://doi.org/10.70062/harmonieconomics.v3i1

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(Harmoni Economics: International Journal of Economics and Accounting) [e-ISSN : 3063-8712, p-ISSN : 3063-6205] is an open access Journal published by the IFREL (International Forum of Researchers and Lecturers). Harmoni Economics accepts manuscripts based on empirical research results, new scientific literature review, and comments/ criticism of scientific papers published by Harmoni Economics. This journal is a means of publication and a place to share research and development work in the field of Economics and Accounting. Articles published in Harmoni Economics are processed fully online. Submitted articles will go through peer review by a qualified international Reviewers. Complete information for article submission and other instructions are available in each issue. Harmoni Economics publishes 4 (four) issues a year in February, May, August and November, however articles that have been declared accepted will be queued in the In-Press issue before published in the determined time.

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Articles 145 Documents

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Business Strategy Development Using BMC and SWOT to Optimize Tourism Destination Revenue Putri Regina Yuni Kurniasari; Rosy Aprieza Puspita Zandra; Zainal Abdul Haris
Harmoni Economics: International Journal of Economics and Accounting Vol. 2 No. 4 (2025): November: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v2i4.390

This study aims to apply the Business Model Canvas (BMC) and SWOT analysis to help optimize revenue, case study at Plaza Bukit Surga, Nganjuk, Indonesia. The method used in this study is a qualitative descriptive approach with data triangulation techniques, including interviews, observations, and documentation. The type of data used is secondary data, comprising visitor data from 2022-2024 and revenue data for the periods of July-December 2023 and 2024. The results of the study indicate that the number of visitors in 2024 decreased by 30% compared to 2022 and 2023, which also affected the decline in revenue. Through the analysis of the nine BMC business elements and the integration of SWOT analysis, it was found that the main weaknesses lie in marketing strategy and resource utilization. This study provides strategic recommendations such as enhancing promotions, strengthening customer relationships, and developing facilities. The analysis shows that BMC is an effective tool for systematically understanding and developing tourism destination business models, and provides a basis for management to develop strategies that adapt to market dynamics. With the right strategy implementation, Plaza Bukit Surga has the potential to become a leading destination contributing to the local economy.

The Role of Marketing Flexibility and Marketing Improvisation in Marketing Crisis Management: An Applied Study at Distribution Body of Oil Products at the Middle Euphrates Ahmed Kadem Abed AL Aboudy; Karrar Sameer Kareem
Harmoni Economics: International Journal of Economics and Accounting Vol. 2 No. 4 (2025): November: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v2i4.392

The research aims to clarify the role of marketing flexibility and marketing improvisation in managing marketing crises, through an exploratory study of the opinions of administrative leaders at distribution body of oil products at the Middle Euphrates. The importance of the research stems from the fact that marketing crises pose a direct threat to the continuity of organizations, especially those operating in vital sectors such as the oil products sector, which necessitates adopting effective strategies and mechanisms to deal with these crises. The research relied on the descriptive-analytical method, where a questionnaire was designed and distributed to a sample of administrative leaders, in addition to conducting supporting interviews to reinforce the study’s findings. The data were analyzed using a set of descriptive and inferential statistical methods. The findings revealed a statistically significant positive correlation between marketing flexibility and the marketing crisis management capabilities of the body and the role of marketing improvisation in the initial stage of crisis response, and the role of improvisation in reducing the adverse impact of a crisis, and the barriers to the application of flexibility and improvisation, including bureaucratic constraints and weak administrative qualification. The findings suggest that it is necessary to strengthen the culture of marketing flexibility in policies and plans, to enhance the marketing improvisation skills of leaders, and to activate early warning systems and simplify decision-making mechanisms, in order to build a more effective capacity to cope with future marketing crises.

The Effect of Leverage and Company Size on Company Value with Profitability as an Intervening Variable in Technology Sector Companies Listed on the IDX in 2021-2023 Indah Maharani Putri; Rita Friyani; Ratih Kusumastuti
Harmoni Economics: International Journal of Economics and Accounting Vol. 2 No. 4 (2025): November: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v2i4.393

With profitability acting as an intervening variable, the purpose of this study is to ascertain how leverage and company size affect company value. This research employs a quantitative methodology. Purposive sampling was used to select 26 of the 47 technology businesses listed on the Indonesia Stock Exchange in 2021–2023, yielding 78 observations in total. Secondary data was gathered from company annual reports via the Indonesia Stock Exchange's official website and the websites of the pertinent businesses. Multiple linear analysis, traditional assumption testing, and hypothesis testing with SPSS V30 software are the data analytic techniques employed in this study. Documentation and literature research are the approaches used to gather data. The study's findings indicate that while company size has no bearing on profitability, leverage does. While debt and company size have little bearing on a company's value, profitability has an impact. Neither the impact of leverage on company value nor the impact of firm size on company value can be mediated by profitability.

The Impact of Digital Payment Adoption on Financial Accuracy and Accounting Efficiency in Small and Medium Enterprises Erwan Aristyanto; Ratna Tri Hardaningtyas; Akhatova Shakhnoza Akram kizi
Harmoni Economics: International Journal of Economics and Accounting Vol. 1 No. 1 (2024): February: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v1i1.394

This study explores the impact of digital payment adoption on financial accuracy and efficiency within Small and Medium Enterprises (SMEs). The rapid shift towards digital financial tools has reshaped accounting practices in SMEs, offering both opportunities and challenges. Traditional cash-based accounting systems have long been prone to errors due to manual processes and human intervention, which hinder the reliability and accuracy of financial records. Digital payment systems, including mobile payments, online bank transfers, and e-wallets, provide a solution by automating financial transactions, thus reducing human error and enhancing operational efficiency. The research involved a quantitative survey of 120 SME owners, analyzing the relationship between digital payment adoption and improvements in accounting accuracy and efficiency. The findings revealed that SMEs implementing digital payment systems saw a 28% improvement in accounting accuracy, accompanied by a substantial reduction in transaction errors. Additionally, the use of digital tools was associated with improved accounting efficiency, including faster transaction processing times and a decrease in time spent on routine financial tasks. This study highlights the effectiveness of digital payment systems in streamlining accounting operations and ensuring more accurate financial reporting, which is essential for informed decision-making and stakeholder trust. However, challenges such as technological constraints, resistance to change, and a lack of digital literacy among SME owners and employees remain barriers to widespread adoption. To address these issues, SMEs should invest in employee training, enhance digital infrastructure, and foster a culture of innovation. Governments and institutions can play a crucial role by offering financial incentives, improving digital infrastructure, and providing support through digital literacy programs. These efforts will facilitate the transition to digital payment systems and contribute to the long-term sustainability and competitiveness of SMEs.

The Role of Managerial Accounting Information in Enhancing Financial Performance and Decision-Making of Micro Enterprises Suwandi Suwandi; Ria Manurung; Nodirbek Ibrokhimov
Harmoni Economics: International Journal of Economics and Accounting Vol. 1 No. 1 (2024): February: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v1i1.395

Micro enterprises face significant challenges in financial management, particularly due to the lack of structured financial information and formal accounting systems. Despite the importance of accurate financial data, many micro businesses rely on informal and unreliable financial practices, which can lead to inefficiencies and hinder decision-making. This study aims to assess the impact of managerial accounting information on the financial performance and decision-making processes of micro enterprises. Specifically, it examines how managerial accounting influences financial control, cost efficiency, and profitability. Using a descriptive correlational design, data was collected through interviews with owners and managers of micro enterprises and performance metrics analysis comparing businesses using formal accounting practices with those using informal methods. The findings show that businesses employing managerial accounting systems report better financial control, including more accurate budgeting, cash flow management, and expense tracking. Additionally, the use of managerial accounting techniques leads to improved cost efficiency and profit margins by optimizing resource allocation and reducing unnecessary costs. Interviews revealed that access to accurate financial data significantly enhances decision-making, especially in areas like pricing strategies and investment decisions. However, challenges such as the cost of implementation, complexity, and a lack of financial literacy were identified as barriers to adopting managerial accounting practices in micro enterprises. The study concludes with practical recommendations for micro businesses to integrate managerial accounting into their operations to improve decision-making and financial outcomes, while also suggesting areas for future research into the long-term impact of these practices and the barriers to their implementation.

The Relationship Between Financial Literacy, Budgeting Behavior, and Household Economic Stability in Urban Communities Eko Cahyo Mayndarto; Arisky Andrinaldo; Bobokulov Sanjar Baxronkulovich
Harmoni Economics: International Journal of Economics and Accounting Vol. 1 No. 1 (2024): February: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v1i1.396

This study explores the significant role of financial literacy in shaping household budgeting behaviors and its impact on economic stability, particularly in urban households. By analyzing data from 300 urban households, the study reveals that financially literate households manage their expenses more effectively, saving, on average, 20% more annually compared to their less financially literate counterparts. These households also demonstrate better debt management and budgeting control, leading to greater financial stability. In contrast, households with low financial literacy exhibit higher debt ratios, poor budgeting practices, and struggle with maintaining financial equilibrium. The findings highlight the importance of financial literacy in fostering responsible financial decision-making, reducing financial distress, and promoting long-term economic resilience. Furthermore, the study identifies gaps in existing research, particularly concerning low-income and marginalized groups in urban settings. Despite better access to financial services, urban areas still show significant disparities in financial literacy, particularly among specific populations such as Indigenous Australians. The study suggests that addressing these disparities through targeted financial literacy programs could enhance household economic outcomes and reduce inequalities. It also emphasizes the need for policy interventions to integrate financial education into urban communities, particularly for low-income or less-educated households. The study calls for future research to explore longitudinal impacts and extend the focus beyond urban areas to include rural populations, thus broadening the understanding of financial literacy’s role in economic stability across diverse contexts.

The Effect of Corporate Tax Policy Reform on Investment Decisions and Profitability of Manufacturing Firms in Indonesia Hariyanti Hariyanti; Ayu Esteka Sari; Toshniyozova Marjona Ikrom kizi
Harmoni Economics: International Journal of Economics and Accounting Vol. 1 No. 1 (2024): February: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v1i1.402

This study examines the impact of tax policy reforms on investment decisions and profitability in Indonesia's manufacturing sector. Using panel data regression analysis over a five-year period, the research analyzes the relationship between tax reforms, investment behavior, and financial performance. The findings show that tax incentives significantly influence corporate investment decisions, with firms receiving tax relief increasing their capital expenditures by 12%. Additionally, these firms experienced a 15% increase in profitability, highlighting the importance of favorable tax policies in boosting firm performance. The study also finds that larger, capital-intensive firms benefit more from tax reforms, suggesting that firm characteristics play a crucial role in determining the effectiveness of tax incentives. The comparison of firms receiving tax relief versus those under standard tax rates further emphasizes the positive effects of tax incentives on investment and profitability. These results align with existing literature, which underscores the critical role of tax policy in promoting investment and long-term economic growth. However, the study also acknowledges certain limitations, including the sample size and the scope of data, and suggests future research should explore the broader effects of tax policies across various industries. The practical implications of the findings are significant for policymakers in Indonesia, as tax reforms can be a powerful tool for fostering economic growth and encouraging corporate investment in the manufacturing sector.

The Effect of Sustainability Reporting Practices on Investor Confidence and Corporate Financial Performance in Listed Companies Eko Sudarmanto; Yeni Priatna Sari; Metyria Imelda Hutabarat; Kadambaeva Charos Masharipovna
Harmoni Economics: International Journal of Economics and Accounting Vol. 1 No. 1 (2024): February: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v1i1.404

Sustainability reporting has become a critical tool for enhancing corporate transparency, building investor confidence, and improving financial performance. This study explores the relationship between detailed sustainability reporting practices and investor confidence, as well as their impact on corporate financial outcomes, particularly Return on Assets (ROA). The research utilized content analysis of sustainability reports from listed companies, focusing on the level of detail and transparency in the reports, and conducted an investor perception survey to assess their trust and confidence in companies based on the sustainability disclosures. The findings reveal a positive correlation between comprehensive sustainability reporting and higher levels of investor confidence, with companies that provide transparent and detailed reports outperforming those with minimal disclosures in terms of financial performance. Companies that effectively communicate their environmental, social, and governance (ESG) practices through clear sustainability reports tend to experience improved operational efficiency, increased profitability, and higher ROA. The study also highlights that sustainability reporting is not merely a tool for corporate responsibility but serves as a strategic advantage in attracting investment and achieving long-term financial success. The research recommends that companies invest in enhancing their sustainability disclosures to attract more investors and improve financial health. Additionally, policymakers should consider mandating detailed sustainability reporting to improve market transparency. Future research could focus on examining the long-term effects of sustainability reporting on investor behavior and extend the study to different industries and markets to further understand the role of sustainability disclosures in shaping corporate performance.

Analysis of Revenue Diversification and Its Impact on ROA: Study on State-Owned Banks 2018-2024 Handriyani Dwilita; Neng Sri Wardhani; Syafira Salsabiela
Harmoni Economics: International Journal of Economics and Accounting Vol. 2 No. 4 (2025): November: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v2i4.407

The financial crisis has prompted global banks to strategize, reduce loans between countries to the emergence of regional banks that fill the gap, and the emergence of regional and global competition between banks. Competition and digital transformation encourage Indonesian banks to grow and develop. One of them is the determination of bank revenue strategies to support banking performance, especially state-owned banks. The theory of income diversification in several countries, both neighboring countries, and Europe considers whether or not to diversify its income composition strategy. This study aims to examine the composition of state-owned bank revenues for the period 2018 to 2024. Is there income diversification? And how does it impact on the value of ROA of state-owned banks. This research is a qualitative research with a descriptive approach, with a research sample of 4 state-owned banks. So the research is called case study research with saturated samples. The results of the study revealed that state-owned banks (BRI, BNI, Mandiri, and BTN) did not diversify their revenues, banks only focused on interest income which controlled almost 90% of bank revenue. There was an increase in the portion of interest income in the 4th period, but it did not have an impact on the increase in ROA. Therefore, the income strategy by focusing on 1 main type of income, namely interest income, does not have an impact on the increase or decrease in the value of ROA.

Financial Distress, Leverage, and Cash Flow Effects on Earnings Management: Evidence from IDX Manufacturing Firms the 2020-2024 Period Budi Chandra; Erlina Erlina; Parapat Gultom
Harmoni Economics: International Journal of Economics and Accounting Vol. 2 No. 4 (2025): November: Harmoni Economics: International Journal of Economics and Accounting
Publisher : International Forum of Researchers and Lecturers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70062/harmonieconomics.v2i4.416

Flow on accrual earnings management with firm size as moderating variable in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. This study was conducted based on information obtained from the Indonesia Stock Exchange. The sampling technique used was purposive sampling. The population in this study were manufacturing sector companies listed on the Indonesia Stock Exchange for the 2020–2024 period. This study employs panel data regression analysis using E-Views. The analytical method applied is multiple linear regression with a quantitative approach. The findings show that only financial distress has a significant positive effect on accrual earnings management, while the other variables are not significant. In addition, firm size does not moderate the influence of financial distress, leverage, or operating cash flow on accrual earnings management. This research is expected to provide deeper insight into the relationship between financial distress, leverage, and operating cash flow with accrual earnings management, as well as contribute to the accounting literature on earnings management practices amid financial pressure faced by firms.

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Home Page

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Editorial Team

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Google Scholar

Contact Name Riyadi

Contact Email indexsasi@apji.org

Phone +6281269402117

Journal Mail Official indexsasi@apji.org

Editorial Address Jalan Watunganten 1 No 1-6, Batursari, Mranggen Kab. Demak Jawa Tengah 59567

Location Kab. demak, Jawa tengah INDONESIA

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Contact Name
Riyadi

Contact Email
indexsasi@apji.org

Phone
+6281269402117

Journal Mail Official
indexsasi@apji.org

Editorial Address
Jalan Watunganten 1 No 1-6, Batursari, Mranggen Kab. Demak Jawa Tengah 59567

Location
Kab. demak,

Jawa tengah

INDONESIA