Jurnal Ekonomi Modernisasi
Jurnal Ekonomi Modernisasi is a peer-reviewed journal that disseminates research in the fields of management and accounting. The journal publishes issues every February, June, and October. It covers a large variety of topics of management and accounting as a medium for practitioners, academics, independent researchers to publish articles that contribute to the development of science. The journal is published with fully open access. Jurnal Ekonomi Modernisasi was firstly published in printed version in 2005 (ISSN 0216-373X), but since 2016, the journal has been published online (ISSN 2502-4078). It is published by the Economics and Business Faculty, University of Kanjuruhan Malang, Indonesia. Jurnal Ekonomi Modernisasi promotes the ideas and information among researchers that have been achieved in the area of: financial management, marketing management, human resource management, behavior organizational, good governance, strategic management, entrepreneurship, management accounting, financial accounting, public sector accounting, Islamic accounting, auditing, taxation, business ethics.
Articles
320 Documents
Stock return during Pandemic Covid 19: a comparison between Indonesia and Singapore stock market
Romieo Romieo;
Hesniati Hesniati;
Robin Robin
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6436
The purpose of this study is to provide an overview of the stock market conditions of IDX and SGX due to the influence of COVID 19. Through a regression analysis study method to see the condition of stock returns on companies in IDX and SGX. These two countries were taken as the focus of the study considering the closeness of business relationships and the highest number of COVID 19 cases in the Southeast Asia Region. The researcher concludes that the IDX is more sensitive to the increase confirmed case of COVID 19 and the SGX is more sensitive to the increase deaths cases of COVID 19. The conclusion of this study is that the threat of COVID 19 will have a different effect on investor behavior in each country, this could be due to the influence of differences between cultural values and characteristics. Like other studies, this study also has limitations that have not carried out a fixed effect on the two countries and recommendations to increase the number of samples from other ASEAN countries to make results that can be generalized in ASEAN.
Analisis fenomena Kurva J di Indonesia
Lia Ika Lestari;
Birgitta Dian Saraswati;
Yustinus Wahyudi
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6438
The free-floating exchange rate system in Indonesia has consequences for fluctuations in the Rupiah exchange rate. In accordance with the J-Curve theory, will the weakening of the Rupiah value have an impact on improving the trade balance in the long term or will it worsen the trade balance condition in the long term. This study will examine how the influence of the Rupiah exchange rate on the trade balance in both the short and long term and whether the J-Curve phenomenon occurs in Indonesia using the Vector Error Correction Model (VECM) analysis technique in the observation period 2015.1-2020.12. The results of this study prove that the J-Curve phenomenon occurs in the Indonesian economy. The findings show that the depreciation of the Rupiah in the short term will cause a trade balance deficit, but in the long term, the depreciation of the Rupiah will cause a trade balance surplus. The results of the variance decomposition show that the exchange rate has a major role in the formation of fluctuations in the trade balance. In addition, shocks that occur in the exchange rate will be responded to by movements in the trade balance position and permanent, namely for the next ten periods. The limitation of this research is that the identification of the existence of the J curve phenomenon is generally carried out on the entire trade balance. Further research is expected to identify the J curve phenomenon specifically in several trading partner countries of Indonesia.
Peran healthy lifestyle dan advertising intrusiveness terhadap repurchase intention mie instan Lemonilo
Ida Nur Fitriana;
Mega Mirasaputri Cahyanti
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6451
This study aims to determine the importance of healthy lifestyle and advertising intrusiveness on repurchase intention of Lemonilo Instant Noodles. This study uses a quantitative method with a sample of 50 members of the Ikatan Cinta Community. Data analysis using Regression Analysis, classical assumption test, t test. The results of this research analysis state that each variable, namely healthy lifestyle and advertising intrusiveness, has a significant influence on repurchase intention. For marketers, this research is useful for improving marketing strategies by maintaining public trust in healthy products and improving the delivery of intrusive advertising. Further researchers can replace or add independent variables such as brand image, consumer perception, product quality or other variables or add dependent variables for example, consumer satisfaction, consumer loyalty or other variables and increase the number of respondents, question items covering a wider area.
Komitmen pimpinan sebagai moderasi pengaruh good school governance terhadap kinerja sekolah
Iin Indah Novitasari;
Rosidi Rosidi;
Umi Muawanah
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6535
This study aims to analyze the effect of Good School Governance on school performance, analyze the effect of leadership commitment on school performance and the moderating role of leadership commitment on the effect of good school governance on school performance. The research approach uses quantitative methods, the research sample of the principals of Kindergarten institutions in Turen District, Malang Regency as many as 46 respondents. The analytical method used is Moderated Regression Analysis (MRA). The research findings indicate that Good School Governance has a significant influence on school performance, leadership commitment has a significant influence on school performance, the interaction of leadership commitment and Good School Governance has a significant influence on school performance. In terms of managerial implications, the practice of Good School Governance is positively related to school performance and leadership commitment as a moderating variable in an effort to improve school performance and quality. In particular, the commitment of the leadership as a manager, as a leader and the right decision maker to achieve a goal that must be developed and improved.
Stewardship Theory di antara hubungan corporate risk, kompensasi eksekutif, karakteristik eksekutif, dan kepemilikan saham pemerintah terhadap tax avoidance
Rahmad Efendi;
Umi Muawanah;
Kohar Adi Setia
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6575
This research expected to understand the effect of corporate risk as measured by the standard deviation of EBITDA divided by total assets, executive compensation, executive characteristics as proxied by age and executive education and government share ownership on tax avoidance (ETR). The research sample of state-owned enterprises found on the official website bumn.go.id, was selected using the purposive sampling method, and 31 state-owned enterprises were obtained as observation data that met the sample criteria. The analysis to examine the effect of each independent variable on the dependent uses Multiple Regression. The results of the study state that corporate risk has a significant influence on tax avoidance, however, the results of this research are different when the researcher tries to exclude state-owned companies that are subject to final income tax from the research sample. From the results of this study, it was found that corporate risk has no effect on tax avoidance. executive compensation, executive characteristics of government share ownership have no effect on tax avoidance. Further research can use financial ratios, company age or other proxies that may affect tax avoidance. In addition, future researchers are expected to use private companies as a comparison of tax avoidance practices.
Penilaian returns investasi saham dengan Augmented Three Factor model pada kondisi political uncertainty di Indonesia
Rika Rahayu;
Mar'atus Zahro
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6601
This study aims to analyze the market factor portfolio beta, small minus big portfolio beta, high minus low portfolio beta, market volatility beta portfolio effect on investment returns with the Fama and French augmented three factor model in the manufacturing industry under conditions of political uncertainty. This research is a quantitative research with the hypothesis that there is an effect of market factor portfolio beta, small minus big portfolio beta, high minus low beta portfolio, market volatility beta portfolio on investment returns with the Fama and French augmented three factor model in the manufacturing industry under political conditions uncertainty. The variables used in this study include the dependent variable, namely investment returns and the independent variables include market factor portfolio beta, small minus big beta portfolio, high minus low portfolio beta, market volatility portfolio beta. The measurement results with small minus big and market volatility have an effect on stock returns, while high minus low and market factors have no effect on investment returns. This study only focuses on the assessment of investment returns with the augmented three factor model of the Fama and French models, so for future researchers it would be better if they could use another model as a comparison.
Harga saham ditinjau dari intellectual capital dan competitive advantage: Studi pada perusahaan otomotif dan komponen terdaftar di Bursa Efek Indonesia
Nindia Destiani Aska;
Augustina Kurniasih
Jurnal Ekonomi Modernisasi Vol. 18 No. 1 (2022): Februari
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i1.6611
The research aims to analyze the effect of intellectual capital consisting of Value Added Capital Employee (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA) and competitive advantage on stock prices. The population in this study are all automotive and component sub-sector companies listed on the Indonesia Stock Exchange in 2021. The research data is secondary data with an observation period of 4 years. The sampling method used is purposive sampling, where from all automotive and component companies listed on the IDX, 12 companies are taken that publish financial statements and earn profits continuously for the 2016-2019 period. The data analysis method used is panel data regression then selected model is Random Effect Model. The results of this study can be concluded that stock prices can be explained or influenced by the variabels VACA, VAHU, STVA and competitive advantage of 40,95%, while the remaining amount is explained or influenced by other variabels outside the model. The results of this study partially VACA and competitive advantage have no effect on stock prices, VAHU has a positive and significant effect on stock price, STVA has a negative and significant effect on stock price.
Internal communication and employee performance: The mediating role of motivation
Maria Yulita Dhone;
Endi Sarwoko
Jurnal Ekonomi Modernisasi Vol. 18 No. 2 (2022): Juni
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i2.6709
Internal communication is an important function in an organization in relation to human resource management. This research examined the employee-perceived internal communication and investigated the role of internal communication and employee motivation on employee performance. The mediating influence of motivation in influence of internal communication on organizational performance was also investigated. Questionnaires were distributed to employees of BPJS Malang City to collect the data of this study. Path Analysis was performed to analyze the data, which results revealed that internal communication could improve employee performance. Internal communication was also found to enhance employee motivation, which in turn would affect the employee performance. Internal communication will encourage organization-employee relationship. Employees should understand the company's core business to make them aware of the targets to achieve. Through effective internal communication, employees would have better comprehension on the importance of their performance. Future researchers are encouraged to examine job satisfaction as a mediating variable in the relationship between internal communication and employee performance
Peran self-efficacy dalam meningkatkan minat berwirausaha women entrepreneur yang dimediasi oleh pengetahuan kewirausahaan
Hartini Hartini;
Aditya Wardhana;
Normiyati Normiyati;
Syarifuddin Sulaiman
Jurnal Ekonomi Modernisasi Vol. 18 No. 2 (2022): Juni
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i2.7036
This study was conducted to analyze the effect of entrepreneurial knowledge on self-efficacy; the effect of entrepreneurial knowledge on entrepreneurial intention; the effect of self-efficacy on entrepreneurial intention; the effect of entrepreneurial knowledge on entrepreneurial intention through self-efficacy. Using a quantitative research with an explanatory research survey method. Data analysis using path analysis through modeling of the Structural Equation Modeling (SEM) with AMOS. The data were collected through questionnaires to 120 women of fashion entrepreneurs in Makassar City, South Sulawesi. The results showed that entrepreneurial knowledge has a positive and significant effect on self-efficacy; entrepreneurial knowledge has a positive and significant effect on entrepreneurial intention; self-efficacy has a positive and significant effect on entrepreneurial intention; self-efficacy does not mediate the effect of entrepreneurial knowledge on entrepreneurial intention. The results of this study become a reference for women in conducting entrepreneurial activities and recognizing the influential aspects of entrepreneurship.
The effect of leverage and liquidity on the value of the firm with age as a moderating variable on companies in Indonesia
Wastam Wahyu Hidayat
Jurnal Ekonomi Modernisasi Vol. 18 No. 2 (2022): Juni
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Kanjuruhan Malang
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DOI: 10.21067/jem.v18i2.7236
This study aimed to examine whether there is an effect of leverage and liquidity on the value of the firm with age as moderating variable in companies listed on the Indonesia Stock Exchange in 2019-2021. The sample in the study was 15 companies for 5 years. The data analysis used in this study was carried out quantitatively, with Statistical Product and Service Solutions-23. The results of this study prove that partially leverage has a negative and significant effect on the value of the firm, liquidity ratios have no impact on the value of the firm, age is proven to moderate the leverage ratio to the value of the firm, and age is not proven to mediate the liquidity ratio to the value of the firm. Based on the coefficient of determination that the leverage ratio and the liquidity ratio affect the value of the firm by 81.7%. For comparison, the remaining 18.3% is influenced by other models of variables from.