Jurnal Penelitan Ekonomi dan Bisnis
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Behavioral Factors Determining Interest in Using Online Loans Generation Z: a Study in Indonesia
Full text linkThe development of fintech lending or better known as online loans (pinjol) has shown a significant increase in the last two years. The largest users are millennials and Z generations, reaching 57.3 percent compared to other user ages. This study aims to see behavioral factors, namely financial literacy, emotions, attachment, materialism, and risk perception that influence interest in online loans among Generation Z. The research population is Generation Z in Indonesia, especially in Central Java Province. The sampling technique used is purposive sampling which obtained 285 samples. Data analysis of the study used the Partial Least Square (PLS) method with Smart-PLS 3 software. The results of the study show that first, Financial Literacy does not have a negative effect on interest in online loans. Second, Emotions have a positive effect on interest in online loans. Third, Attachment has a positive effect on interest in online loans. Fourth, Materialism has a positive effect on interest in online loans. Fifth, Risk perception has a positive effect on interest in online loans
Analysis of Ease of Use and Perceived Risk on Online Purchase Decisions Through Trust as a Mediating Variable in the Perspective of Islamic Economics
No full textThe rapid growth of e-commerce has transformed consumer behavior, enabling seamless online transactions. However, perceived risks, such as product uncertainty and fraud, hinder consumer trust. This study examines the effects of ease of use and perceived risk on online purchase decisions, mediated by trust, within the Islamic economic framework. Using a quantitative approach, data were collected from 163 Muslim respondents in Malang City through structured questionnaires. Structural Equation Modeling-Partial Least Squares (SEM-PLS) was utilized for data analysis.The findings reveal that ease of use significantly enhances both trust and purchase decisions, while perceived risks negatively impact trust but influence purchase decisions positively when mediated by trust. Trust plays a critical role in bridging ease of use and perceived risk with purchase decisions. From the Islamic economic perspective, the principles of honesty, transparency, and fairness bolster consumer trust and mitigate risks in online transactions. This study highlights the importance of designing user-friendly e-commerce platforms, ensuring secure transactions, and embedding Islamic ethical principles to foster consumer trust and improve purchase decisions. Future research may explore broader contexts and delve deeper into cultural and religious influences on consumer behavior in e-commerce
The Role of Eco – Innovation in Mediating The Relationship Between Financial Literacy and Sustainability of UMKM in Central Java
Full text linkThe micro, small, and medium enterprises sector is the driving force of a country's economy, but along with the times there are still many problems that occur and have not been resolved, one of which is financial knowledge and innovations. The purpose of this study is to investigate and test the sustainability of MSMEs with Financial Literacy and Innovation. Study This uses a quantitative approach, research data in the form of primary data through questionnaires and taking population as well as research samples from the actors or managers of MSMEs as many as 433 respondents. The sampling method used was purposive sampling technique. The independent variable in this study is financial literacy, the intervening variable is eco-innovation and the dependent variable is the sustainability of MSMEs. The method used in analyzing the data is simple linear regression analysis with SPSS version 24 software. The results of the classical assumption test are normal, multicollinearity does not occur, heteroscedasticity does not occur. The results of this study prove that financial literacy has a significant positive effect on the sustainability of MSMEs, and financial literacy has a significant positive effect on eco-innovation. Meanwhile, eco - innovation has a significant positive effect on the sustainability of MSMEs, and eco - innovation has a positive and insignificant effect in mediating financial literacy on the sustainability of MSME
The Impact of Ownership Concentration on the Cost of Equity Capital with Earnings Management as a Mediating Variable
Full text linkThis study investigates the impact of ownership structure and earnings management on equity costs and explores whether earnings management mediates the relationship between ownership concentration and equity costs in technology companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. Ownership structure is assessed based on the largest shareholders, while earnings management is measured through discretionary accruals using the Modified Jones Model. The sample comprises 13 companies with 65 observations, selected through purposive sampling and analyzed using multiple linear regression with EViews 8. The findings indicate that while ownership concentration can lower equity costs, it does not influence earnings management, and earnings management does not affect equity costs. Additionally, earnings management does not mediate the link between ownership concentration and equity costs, as major shareholders prioritize transparency in financial statements. Future research should consider different variables and include other sectors, such as mining and banking, to provide a more comprehensive and relevant understanding of equity costs across various industries and offer improved recommendations for companies and investors
Factors Affecting Non-Performing Financing in Islamic Rural Banks: A Case Study of selected East Java Province
No full textThis study aims to analyze the significance of the influence of Financing to Deposit Ratio, Operational Costs to Operational Income, Capital Adequacy Ratio, Gross Domestic Product, and BI-Rate on Non-Performing Financing at Islamic Rural Banks in East Java for the 2020–2023 period, either simultaneously or partially. The sample in this study were 22 (twenty-two) Islamic Rural Banks in East Java, which were selected using a purposive sampling technique. The analysis model used in this study is a panel data regression analysis model. The results of proving the hypothesis and discussion show that the Financing to Deposit Ratio, Operational Costs to Operational Income, Capital Adequacy Ratio, Gross Domestic Product, and BI-Rate simultaneously have a significant effect on Non-Performing Financing. Furthermore, Financing to Deposit Ratio partially has a positive but not significant effect on Non Performing Financing, Operational Costs to Operational Income and Gross Domestic Product partially has a positive and significant effect on Non-Performing Financing, Capital Adequacy Ratio partially has a negative significant on Non Performing Financing, and BI-Rate partially has a negative but not significant effect on Non-Performing Financing at Islamic Rural Banks in East Java for the 2020–2023 period
Role of Financial Indicators and Firm Characteristics in Determining Firm Value
No full textMarket value reflects investor confidence in a company’s future performance. A higher market value suggests stronger growth potential and, correspondingly, indicates a greater level of shareholder wealth. Consequently, understanding the factors that influence company value is important. This study seeks to provide empirical evidence regarding the influence of financial performance and company-specific characteristics on company value. This study focuses on companies listed on the Indonesia Stock Exchange (IDX) in the transportation and logistics sector for the period 2021–2023. A total of 48 data observations were eligible for analysis. The results of the study reveal that financial performance indicators, as proxied by profitability and leverage, do not influence company value. In contrast, company-specific characteristics, as proxied by company size, positively influence company value
The Impact of Macroeconomic Variables on the Financial Growth of Construction Companies in Indonesia: An Analysis with an Error Correction Model (2010.1 – 2021.4)
Full text linkThis aims to analyze the impact of macroeconomic variables, namely economic growth, inflation rate, and labor wages, on the long-term financial growth rate of construction companies in Indonesia in 2010.1 - 2021.4. The research method uses the Error Correction Model - Engle Grager. The stationary data, a root unit test, the first difference, and a cointegration test are carried out to ensure that the model can be continued with the ECM equation. The data used in this study is a secondary time series data published by the BPS. The result of this study is that there is a long-term balance correlation between economic growth, inflation, and labor wages with the financial growth rate of construction companies in Indonesia for the period 2010.1 - 2021.4. The theoretical contribution of this study is the relationship between macroeconomic variables and the financial growth rate of construction companies in Indonesia. The variables of economic growth, inflation rate, and labor wages correlate with the long-term financial growth of construction companies in Indonesia. The novelty of this research lies in an approach that focuses on the specific characteristics of the construction industry in Indonesia, which is different from previous studies that were primarily conducted in developed countries. This study develops an ECM-based analytical model that considers the adjustment mechanism for short-term imbalances and how macroeconomic variables shape the financial stability of construction companies in the long term. Practically, the results of this study provide policy recommendations for the government and construction industry players in anticipating the impact of macroeconomic variables on the company's financial stability
The Role of the Independent Board of commissioners, Ownership, and Accountant Reputation on Social Disclosure: Case of Emerging Market
Full text linkThis study aimed to examine the effect of an independent board of commissioners, public accountant reputation, and public ownership proportion on social disclosure which is the purpose of the agency and legitimacy theory testing. It was carried out on the energy, manufacturing, and basic material companies listed on the Indonesian stock exchange in 2021. The sample of this study were 55 companies selected using a purposive random sampling technique. Sample were selected based on the criteria of CSR reporting availability. The ordinary least square was used to test the hypotheses. The testing result showed that public accountants and the proportion of share ownership by the public have a significant effect on social disclosure. This is due to the existence of public accountants and diversified ownership by the public increasing the supervision; as there is a quality assurance and the involvement of several parties in supervision. However, this research proved that the independent board of commissioners does not have a significant effect on social disclosure. This is because, in developing countries such as Indonesia, the role and function as well as compromising attitudes towards CEOs often take place. The distinction of this research showed that problems of agency and legitimacy theory often takes place due to permissiveness, politeness, and reluctance culture which extends to professional work matters. This study has limitations in variable measurement. Therefore, further studies should measure other variables related to the effectiveness of monitorin
The Effect of Hedonic Shopping Value on Impulse Buying with Positive Emotion as an Intervening Variable on Tokopedia Consumers
No full textIn the current digital era, online shopping has become an increasingly popular phenomenon, dominating people's consumption patterns. One of the leading e-commerce platforms in Indonesia is Tokopedia, offering a wide range of products and services to its consumers and providing a comfortable and easy shopping experience. This research utilizes a quantitative approach, as the researcher suspects a direct effect of Hedonic Shopping Value on Impulse Buying. Positive Emotion acts as a mediating variable between Hedonic Shopping Value and Impulse Buying. The estimated parameter value of the regression weight coefficient is 0.237, and the CR value is 2.409, indicating a relationship between Hedonic Shopping Value and Impulse Buying. This suggests that the stronger the influence of Hedonic Shopping Value, the more Positive Emotion will increase. The significance test shows a probability value of 0.016 (p < 0.05), indicating that "Hedonic Shopping Value (X)" has a positive and significant effect on Impulse Buying (Y). Based on the Sobel test analysis, the t-value is 2.1967, which is greater than 1.96 with a significance level of 0.016 < 0.05 (5%), thus proving that Positive Emotion serves as a mediating variable in the influence of Hedonic Shopping Value on Impulse Buyin
Strategic Innovation Quality: Technological Innovation Capability Model to Improve Competitive Advantage and Human Resource Performance of Tourism Industry
No full textThis study aims to analyze the influence of Strategic Innovation Quality (SIQ) on Competitive Advantage (CA) and Human Resource Performance (HRP), with Technological Innovation Capability (TIC) as a mediating variable. The research was conducted on employees of Lawu Group Tourist Attractions in Central Java, with a saturated sample of 255 employees. A quantitative research method was applied using Structural Equation Modeling-Partial Least Squares (SEM-PLS).The results indicate that SIQ has a positive influence on TIC and HRP. TIC also has a positive and significant impact on CA and HRP, while it mediates the relationship between SIQ and CA. However, the direct relationship between SIQ and CA is not significant, suggesting that technological innovation capability plays a more dominant role in creating a competitive advantage than strategic innovation alone. These findings highlight that in the tourism industry, strengthening technological innovation capabilities is crucial for enhancing both competitive advantage and human resource performance.The study's implications suggest that the management of Lawu Group Tourist Attractions should focus on strengthening technological innovation strategies to enhance competitiveness and optimize employee performance. Moreover, organizations need to emphasize technology development as a bridge between strategic innovation and competitive advantage. This research contributes academically to the development of strategic innovation theories in the tourism sector and provides practical recommendations for tourism destination managers to improve organizational performance sustainably