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INDONESIA
JURNAL EKONOMI DAN BISNIS AIRLANGGA
Published by Universitas Airlangga
ISSN : 23382686     EISSN : 25974564     DOI : -
Core Subject : Economy,
JURNAL EKONOMI DAN BISNIS AIRLANGGA (J E B A) | JOURNAL OF ECONOMICS AND BUSINESS AIRLANGGA (Formerly Majalah Ekonomi) (p-ISSN: 2338-2686; e-ISSN: 2597-4564) is a scientific peer-reviewed journal published by Faculty of Economics and Business, Universitas Airlangga, Indonesia. Since established in 1981, JEBA is intended provide a medium for dissemination of original and quality research on various topic in economics and business. The journal calls for articles reporting the research result on accounting, economics, islamic economics and management, and other related fields to be published three times a year (April, August and December). JEBA welcomes for collaboration with profession assocations, research centers and scientific forum such as seminar and confrences.
Arjuna Subject : -
Articles 137 Documents
THE PREDICTION OF FINANCIAL DISTRESS IN PROPERTY COMPANIES IN SOUTHEAST ASIAN: INDONESIA, SINGAPORE, AND MALAYSIA Ghoni, Muhammad Abdul; Maksum, Asep; Jaelani, Abdul Qadir; Yunus, Noor’ain Mohamad
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.129-146

Abstract

Introduction: This study aims to assess and evaluate the financial distress state of a sample including 204 data points from 35 enterprises in Southeast Asia, specifically Indonesia, Malaysia, and Singapore. Methods: This study analyzes the effects of Covid-19 on these enterprises, specifically concentrating on the likelihood of financial hardship as assessed by Edward Altman's Z-score model. Results: Evidence indicates that property businesses listed on the Indonesia, Malaysia, and Singapore Stock Exchanges had greater financial difficulties during the Covid-19 period compared to the post-Covid period, aligning with observations at the ASEA Landmark level. The projected likelihood of default for publicly traded enterprises rose significantly during the Covid pandemic. Conclusion and suggestion: The data reveal that the Z-score's efficacy in predicting bankruptcy markedly declined during the financial crisis. The data indicate that Covid-19 is causing financial pain to enterprises in Southeast Asia.
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) PERFORMANCE AND CORPORATE VALUE: UNPACKING THE MODERATING EFFECT OF COMPANY SIZE Mulyana, Dendi; Widyaningsih, Aristanti; Rozali, Rozmita Dewi Yuniarti
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.147-165

Abstract

Introduction: This study endeavours to analyse the effect of environmental, social, and governance (ESG) performance on corporate value and determines whether company size can affect this outcome. Methods: This quantitative research was conducted across five Southeast Asian (ASEAN) countries over four periods, from 2020 to 2023. The sample comprises 361 companies, selected using a purposive sampling technique, resulting in a total of 1,444 observations. The study employs moderated regression analysis (MRA) of panel data. Results: The findings reveal that ESG performance unfavourably affects corporate value. However, company size mitigates this unfavourable effect, as evidenced by its substantial favourable moderating role. Further analysis at the country level shows consistent results in Indonesia, Malaysia, and Thailand. In contrast, ESG performance does not substantially affect corporate value in Singapore and the Philippines, nor does company size have a notable moderating effect. Conclusion and suggestion: This study underscores the significance of integrating ESG policies into corporate strategies, especially for larger corporations. Smaller firms may need to focus on cost-effective initiatives or seek support to scale their ESG efforts. For policymakers, the study underscores the necessity of enhancing support through transparency, fiscal incentives, and regulations to promote ESG awareness and implementation, particularly in countries where the effect of ESG is limited.
THE ENIAPEL BOTTOM LINE MODEL AND NATURAL TOURISM MARKETING: A MIXED METHODS STUDY OF GOSARI VILLAGE Cempena, Ida Bagus; Ratnawati, Tri; Sitohang, Arga Christian
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.166-183

Abstract

Introduction: This study aims to analyze the relationship between economy, fishermen, inclusion, nature, empowerment, ecology, and local variables in the context of natural tourism development in Gosari Village, Ujungpangkah District, Gresik Regency, part of the minapolitan zone. Understanding these variables’ effects is essential for improving the sustainability and operational efficiency of Gosari Village as a tourism destination. Methods: A quantitative approach was employed through questionnaires administered to 106 respondents from various stakeholders, including Village-Owned Enterprises (BUMDes), POKDARWIS, MSMEs, and government entities. The collected data were processed using PLS 4.0. Additionally, a phenomenological study using in-depth interviews was conducted to capture the social experiences of fishing communities in Gosari Village. This dual approach provided a comprehensive understanding of the area’s tourism development dynamics. Results: The results show that fishermen significantly influence inclusion, ecology, and economy, but not empowerment. Nature is found to have a significant effect on empowerment and ecology, but not on inclusion and economy. Local variables have a significant influence on empowerment, ecology, and economy, but not on inclusion. Conclusion and suggestion: This study highlights the significant roles of fishermen, nature, and local variables in the development of natural tourism in Gosari Village, with varying impacts on inclusion, ecology, empowerment, and the economy. To enhance sustainability and operational efficiency, it is recommended to focus on digital marketing, human resource development, diversification of funding sources, the application of technology, and local empowerment policies. Additionally, the ENIAPEL Bottom Line Model is proposed as a strategy to maintain a balance between environmental, social, and economic aspects for sustainable tourism growth in the village.
SUSTAINABLE STRATEGIES IN ORGANIC WASTE MANAGEMENT: A SYSTEMATIC LITERATURE REVIEW STUDY Amri, Husnia Sholihatin; Wurjaningrum, Febriana
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.184-202

Abstract

Introduction: Particularly in Indonesia, waste management—especially organic waste—remains a major worldwide concern. A substantial contributor to greenhouse gas emissions (7.29% yearly) and economic losses of IDR 213–551 trillion, food waste will make up 39.78% of all garbage in 2023. Methods: This study employs a systematic literature review to analyze organic waste management practices and their environmental implications, utilizing secondary data from national and global sources. Results: The findings show that Indonesia has problems with such low public knowledge, reliance on subpar dumps, and limited technology. Locally, creative methods such as using Black Soldier Fly larvae to convert organic waste show promise. Around the world, modern technologies like Malaysian and Thai anaerobic digestion and programs like the European Green Deal show greater efficiency. Successful programs frequently incorporate government incentives, trash segregation regulations, and public education. Conclusion and suggestion: SAccording to the study's findings, managing organic waste sustainably can lower greenhouse gas emissions and help achieve several UN SDGs, such as those related to health, clean water, and climate change. Promoting trash separation at the source, using composting methods, implementing contemporary technologies, and encouraging cooperation between public, corporate, and community sectors are some of the main proposals. Long-term solutions in Indonesia and elsewhere depend on addressing shortages in funding, infrastructure, and public awareness.
DOES ISLAMIC FINANCE DRIVE ECONOMIC GROWTH IN INDONESIA? AN ANALYSIS USING VECTOR ERROR CORRECTION MODEL Kurniawan, Eko; Rani, Lina Nugraha; Pertiwi, Tanza Dona
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.203-215

Abstract

Introduction: Indonesia, as the second-largest Muslim-majority country in the world, has significant potential for developing the Islamic finance sector. On the other hand, the financial sector, including Islamic finance, plays a crucial role in a country's economic growth. Methods: This study utilizes quarterly time-series data from 2011 to 2023, with economic growth (GDP) as the dependent variable. The independent variables include Islamic banking assets, outstanding sukuk value, and total zakat distribution. The analysis is conducted using the vector error correction model (VECM), beginning with stationarity testing, optimal lag selection, cointegration testing, model estimation, and variance decomposition analysis. Results: The analysis results indicate that, in the short term, Islamic finance (Islamic banking, sukuk, and zakat) does not have a significant impact on Indonesia's economic growth. However, in the long term, these three variables have a positive and significant effect on economic growth. Conclusion and suggestion: Islamic finance has been proven to play an essential role in driving Indonesia's long-term economic growth. Islamic banking contributes through real sector financing; sukuk supports infrastructure development, and zakat enhances societal welfare and aggregate consumption. The government needs to strengthen Islamic financial infrastructure, improve financial literacy, and enhance the inclusivity of Islamic finance in Indonesia.
ANALYSIS OF ECONOMIC CONJUNCTURE ON THE COLLECTION AND DISTRIBUTION OF ZAKAT, INFAQ, AND SADAQAH (ZIS) AND PROVINCIAL ECONOMIC GROWTH IN INDONESIA Ramadhanty, Rifka Putri; Ryandono, Muhamad Nafik Hadi
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I12025.83-104

Abstract

Introduction: This study analyzes the influence of macroeconomic factors—specifically inflation and unemployment—on the collection and distribution of zakat, as well as their impact on provincial economic growth in Indonesia. Methods: Data were collected from 33 provinces over the period 2012–2023. The study utilizes the path analysis model to process the collected data, employing SmartPLS 4.0 software for analytical procedures. Results: The study finds that inflation and unemployment negatively affect zakat collection and economic growth. Conversely, zakat collection has a positive influence on its distribution, which ultimately supports economic growth. Conclusion and suggestion: These findings underscore the potential of zakat as a macroeconomic instrument for sustainable development. The results provide important implications for zakat management and Islamic economic policy in Indonesia.
Front Matter Volume 35, No. 1, December-May 2025 Rusgianto, Sulistya
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract