ETIKONOMI
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Effects of Sociographic and Personal Factors on Food Purchasing in Traditional Markets
No full textResearch Originality: The current literature lacks a structured analysis of how interactions between lifestyle factors and sociodemographic changes impact food purchasing behavior in traditional markets. By analyzing these factors, businesses can optimize product selections, refine marketing strategies, and enhance customer engagement to align with the diverse preferences and requirements of their target market, adapting to both current trends and future changes.Research Objectives: This study employs a psychodynamic approach, the theory of personality traits, two-way physical and perceptual interactions, and household assumptions to examine how sociographic lifestyle, household characteristics, and personality traits influence food purchasing behavior. Research Methods: The mixed methods, which included in-depth interviews with 183 household customers, utilized non-probability sampling and partial least squares structural equation modeling.Empirical Results: Increased food purchasing behavior is caused by changing sociographic lifestyles rather than personality traits and household characteristics. A greater sociodemographic lifestyle, personality traits, and household characteristics correspond to increased friendship, values, responsible spending, and household size.Implications: Food safety regulations must be implemented effectively, which includes appointing market management authorities, as agencies in the informal food sector are often underfunded and unregulated.JEL Classification: D1, E21, L66, R2How to Cite:Nurliza. (2025). Consumers in Traditional Markets: Sociographic Lifestyle, Household Features, and Personality Traits. Etikonomi, 24(1), 205 – 220. https://doi.org/10.15408/etk.v24i1.38288
Toward a Resilient Islamic Banking System: Insights from 14 Years of Research
No full textResearch Originality: This research is unique in that it consolidates macroeconomic and institutional studies to better understand how Islamic banks absorb and recover from financial shocks.
Research Objectives: To investigate the conceptual and empirical development of Islamic banking resilience over the past 14 years, concentrating on dominating variables and thematic clusters.
Research Method: The research examines 42 peer-reviewed journal articles indexed in Scopus through a comprehensive systematic literature review (SLR) methodology utilizing bibliometric instruments.
Empirical Results: Internal factors like capital adequacy, liquidity, and profitability, as well as macroeconomic indices like GDP and inflation, influence resilience. The keyword “bank resilience” is underused, implying a lack of conceptual consistency in the literature.
JEL Classification: G21, G32, E44, E58, Z12
Implications: An integrated view of resilience in Islamic finance and the requirement for specialized regulatory frameworks and resilience-based performance metrics customized to Islamic banking principles has substantial implications for researchers, policymakers, and regulators
Human Capital as a Catalyst for Income Convergence: Evidence from ASEAN-8 Countries
No full textResearch Originality: This study takes a novel approach to analyzing the impact of human capital on income convergence in ASEAN-8 countries by comparing three indicators. This comparative analysis provides a more comprehensive understanding of human capital dynamics in ASEAN\u27s economic convergence.Research Objectives: This study investigates the impact of human capital on income convergence by applying the concept of β-convergence to the ASEAN-8 countries.Research Methods: The analysis of β-convergence is based on the basic and augmented Solow growth models. The estimation is conducted using static and dynamic panel data regression from 1995 to 2019.Empirical Result: The results reveal the existence of absolute and conditional β-convergence in ASEAN-8 countries, suggesting that poor countries grow faster than rich countries, with human capital playing a crucial role in this process. Human capital, measured by average years of schooling, tertiary gross enrolment ratio, and HCI, are important factors that significantly increase income convergence.Implications: ASEAN-8 governments need to establish policies that enhance human capital, particularly in education, by increasing educational attainment and the rate of return to education.JEL Classification: E24, O47, C13How to Cite:Suprayitno, A. W., & Gitaharie, B. Y. (2025). Human capital as a Catalyst for Income Convergence: Evidence from ASEAN-8 Countries. Etikonomi, 24(1), 265 – 284. https://doi.org/10.15408/etk.v24i1.41571
Untapping the Determinants of Islamic Financial Behaviour among Young Generations
No full textResearch originality: The originality of this research lies in its integrated examination of psychological, social, and educational determinants of Islamic financial behaviour within a localized Malaysian context.
Research objectives: Grounded in the Theory of Planned Behaviour, the research investigates how Islamic financial literacy, financial risk attitude, parental financial socialization, and financial self-efficacy influence financial behaviour.
Research methods: A structured questionnaire was distributed to 358 respondents aged 18 to 30, and the data were analyzed using covariance-based Structural Equation Modelling (CB-SEM).
Empirical result: The study reveals two significant findings: parental financial socialization and financial self-efficacy strongly predict Islamic financial behaviour, while financial literacy and risk attitude show insignificant relationships.
Implications: Policymakers should embed Islamic financial literacy in national youth programs, educators must integrate hands-on financial training into curricula, and Islamic finance providers are encouraged to offer youth-friendly, Shariah-compliant products supported by educational outreach and family-involved financial awareness initiatives.
JEL Classification: D10, D14, D91, G4
Sustainability and Loyalty in Halal Tourism: An Indonesian Perspective
No full textResearch Originality: This study introduces new behavioral dimensions, including environmental awareness, ethical service innovation, and tourists’ decision control, in the formation of loyalty and advocacy behavior.
Research Objectives: This study examines the contribution of sustainability-oriented factors to Muslim tourist loyalty and recommendation behavior, with satisfaction and intention to revisit serving as mediating variables.
Research Methods: A quantitative approach was employed using a structured questionnaire distributed to 460 Muslim tourists. The data were analyzed using structural equation modeling to evaluate the causal relationships among the variables.
Empirical Results: Environmental awareness and tourists’ ability to make ethical decisions have a significant influence on loyalty and word-of-mouth behavior. Ethical service innovation enhances customer satisfaction, which in turn contributes to loyalty. Satisfaction and revisit intention were found to be essential mediators in this relationship.
Implications: This study provides theoretical insights by integrating sustainability into halal tourism behavior models and offers practical recommendations for destination managers to develop emotionally engaging and environmentally responsible tourism services.
JEL Classification: M31, O35, Q56, Z3
Economic Turbulence in Indonesia: The Effects of Instability and Crisis
No full textResearch Originality: This study presents a novel perspective by examining Indonesia’s economic growth over three crisis periods. It uniquely highlights how global economic uncertainty can strengthen Indonesia’s growth resilience when met with credible domestic policy responses.
Research Objectives: The research investigates the effects of exports, imports, production value, interest rates, economic globalization, exchange rates, and state obligations on Indonesia’s economic growth at constant prices.
Research Methods: Using quarterly time-series data from 1991Q1 to 2024Q1, the study employs a Dummy Variable–Autoregressive Distributed Lag model.
Empirical Result: Exports have a direct negative effect on economic growth but when influenced indirectly by the global crisis and the pandemic, exports can actually contribute to growth. On the other hand, imports directly boost growth, but their impact is negatively affected by the global crisis. Additionally, interest rates support long-term growth but hinder it in the short run; however, crises may moderate this impact positively.
Implications: These findings underscore the need for policymakers to craft dynamic, adaptable economic strategies that can safeguard Indonesia’s growth against future global shocks and uncertainties.
JEL Classification: F41, E32, O5
Role Strategic Management and Maqasid Sharia Toward Islamic Cooperative Performance
No full textResearch Originality: The study of strategic management and maqasid sharia in Islamic cooperatives is scarce. This study\u27s originality includes maqasid sharia and decision-making styles in the framework of strategic management.Research Objectives: This study aims to determine the roles of strategic management, maqasid sharia, and decision-making style in the performance of Islamic cooperatives and to improve and embed Islamic values in organizations.Research Methods: Questionnaires were distributed to 124 employees of Islamic-cooperative. Furthermore, the study uses structural equation modelling to analyze the questionnaires data from respondents.Empirical Results: The study found that strategic management and organizational performance statistically affect financial performance. Meanwhile, the maqasid sharia and dependent decision-making style have statistically significant indirect effects on financial performance through strategic management and organizational performance.Implications: This study supports the implementation of Maqasid Sharia as the baseline for strategic management. This policy aims to improve the performance of Islamic cooperatives within the limits of Islamic principles. Stakeholders can elaborate on the policy to strengthen strategic management and Maqasid Sharia\u27s implementation.JEL Classification: M21, L21, G40How to Cite:Amar, F., Sumardi, S., & Nugraha, D. P. (2025). Role Strategic Management and Maqasid Sharia Toward Islamic Cooperative Performance. Etikonomi, 24(1), 247 – 264. https://doi.org/10.15408/etk.v24i1.44588
Competitiveness and Factors Affecting Indonesia’s Natural Rubber Export: An Evidence from Eight Main Destination Countries
No full textResearch Originality: This research contribution focused on Indonesia\u27s natural rubber productivity and the role of importer industrial sector development in Indonesia\u27s natural rubber exports.Research Objectives: This research analyzed Indonesia\u27s natural rubber export competitiveness and the effect of productivity, importer industrial sector development, and export price on Indonesia\u27s natural rubber export volume.Research Methods: This research used secondary data from the World Bank, FAO, and UN Comtrade. The dataset covers eight countries from 2002 to 2022. Revealed comparative advantage (RCA), export product dynamics (EPD), and x-model potential export products are applied to analyze export competitiveness. In contrast, panel regression is applied to analyze the determinants of export.Empirical Results: The results showed that Indonesia\u27s natural rubber competitiveness has declined since 2018. Nevertheless, Indonesia\u27s natural rubber is still competitive, and its expansion in the main-destination countries is considered potential. Natural rubber productivity, importer industrial sector development, and export price positively and significantly impact natural rubber export volume.Implications: Indonesia\u27s natural rubber competitiveness has declined. Hence, improving natural rubber quality would be suggested. Moreover, the positive impact of productivity can be maximized by building supporting infrastructure and upgrading production technologies.JEL Classification: C33, F14, Q17How to Cite:Novaldi, J., & Muchlisoh, S. (2025). Competitiveness and Factors Affecting Indonesia’s Natural Rubber Export: An Evidence from Eight Main Destination Countries. Etikonomi, 24(1), 175 – 190. https://doi.org/10.15408/etk.v24i1.37841
Determinant of Earnings Response Coefficient with Sales Growth as Moderating
No full text Research Originality: This study provides a new perspective by including the less explored sales growth as a factor that could potentially strengthen or weaken the relationship between earnings and market response. Investigating sales growth is crucial, as it enhances investor perceptions of revenue growth, a key indicator of corporate success.Research Objectives: This study analyzes the factors that affect earnings response coefficients in basic material and industrial companies listed on the Indonesia Stock Exchange in 2020–2022.Research Methods: This study uses secondary data that consisted of 76 companies with 228 observations in the basic material and industrial sectors listed on the Indonesia Stock Exchange from 2020 to 2022. This research uses multiple linear regression analysis and the data distribution is panel data.Empirical Results: The findings show that free cash flow has a positive effect on the earnings response coefficient, and systematic risk has a negative effect. Capital expenditure does not affect the earnings response coefficient. Sales growth, as moderation, can weaken systematic risk on the earnings response coefficient.Implication: This study had theoretical implications for examining the theory related to the earnings response coefficient. Practically, it provided investors with an overview of earnings quality, as shown by capital expenditure and free cash flow.JEL Classification: L6, D21, G10How to Cite:Pramesti, I. G. A. A., & Murwaningsari, E. (2025). Determinant of Earnings Response Coefficient with Sales Growth as Moderating. Etikonomi, 24(1), 233 – 246. https://doi.org/10.15408/etk.v24i1.38165
The Role of Economic and Social Safety Nets in Extreme Poverty in Indonesia
No full textResearch Originality: This study focused on addressing the goal of reducing extreme poverty (EP) to 0% by 2024 in Indonesia, an objective that has been underexplored in global literature.
Research Objectives: This study examined convergence in EP across Indonesia and analyzed the impact of economic as well as social variables on poverty reduction.
Research Methods: Panel data from 34 Indonesian provinces (2017–2022) were analyzed using Generalized Method of Moments (GMM) and K-means Cluster analysis for regional classification.
Empirical Result: The results showed that provinces in Indonesia were reducing EP at an annual rate of 1.19%, with a half-life of 1.6 years. This process signified that the country was on a path to achieve near-zero EP by 2024. Major socioeconomic drivers identified during the study included employment expansion and investments in education. Moreover, K-means Cluster analysis identified Cluster 1 (Central Sulawesi, North Maluku, Papua) with the highest EP rate of 1.52%, showing critical geographic disparities.
Implications: The Government should adopt a multilevel strategic framework prioritizing regions with the highest poverty rates. Job creation and better access to education played a crucial role. Additionally, Indonesia\u27s success could serve as a model for sustainable EP eradication in developing nations.
JEL Classification: I32, P46, Q0