ETIKONOMI
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Role of Financial Literacy and Saving Habits on Fintech Adoption post Covid-19
No full textResearch Originality: This research paper enriches existing literature on drivers of fintech adoption, including the impact of perceived trust, individual innovativeness, savings habits, and government support on Indonesian users\u27 post-COVID-19 pandemic fintech adoption intentions.Research Objectives: This study examines the impact of post-covid changes in people\u27s behaviour, savings habits and accelerated financial literacy on strengthening Technology Adoption Model (TAM) among Indonesian fintech users. Research Methods: The researchers surveyed 536 people living in Indonesia. The data was analysed using structural equation modelling with moderator variables. Empirical Results: It found that ease of use, usefulness, trust and personal innovativeness are key drivers of adoption intentions. The research also found that savings habits significantly increase the influence of government support on fintech adoption. Implications: This research has two important implications. First, digital finance companies should further improve fintech app service quality and security. Second, the government should also encourage the expansion of a fintech-based startup ecosystem by providing regulatory support to accelerate the progress of Indonesia\u27s digital finance industry.JEL Classification: M21, G23, O36How to Cite:Nugraha, D. P., Setiawan, B., Emilda, E., Masyhuri, M., Quynh, M. N., Nathan, R. J., Fekete-Farkas, M., & Hagen, I. (2024). Role of Financial Literacy and Saving Habits on Fintech Adoption post Covid-19. Etikonomi, 23(1), 63 – 80. https://doi.org/10.15408/etk.v23i1.37856
ESG and Firm Performance in Developing Countries: Evidence From ASEAN
No full textSeveral studies primarily investigate the influence of environmental, social, and governance on firm performance in a developed country where markets have matured, and investors are aware of corporate social responsibility activities. Therefore, studies in developing countries are still rare and mixed. This study examines the effect of Environmental, Social, and Governance (ESG) information on firm performance in ASEAN developing countries. We observed companies in ASEAN developing countries (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) during 2010-2020. The information on ESG score and ROA as a proxy for firm performance measures ESG. Regression test results showed that ESG has a positive effect on firm performance. We also found that three components of ESG, environmental, Social, and Governance, positively affect firm performance. Robustness test results showed that overall ESG information, environmental information, and social initiatives affect the firm’s market performance (Tobin’s Q). Research originality in this study proves that developing countries have a positive effect between ESG disclosure and company performance. ESG, in the long term, would build effective governance and increase shareholder value. The research implication is to suggest a company has ESG information due to empirical testing that ESG information enhances a firm operational and market performance.JEL Classification: G30, Q56, Q50How to Cite:Makhdalena., Zulvina, D., Zulvina, Y., Amelia, R. W., & Wicaksono, A. P. (2023). Environmental, Social, Governance, and Firm Performance in Developing Countries: Evidence from Southeast Asian. Etikonomi, 22(1), 65–78. https://doi.org/10.15408/etk.v22i1.25271
The Development of Good Micro, Small and Medium Enterprises Governance Indicators
No full textA systematic literature review method was used in this study to find good governance for micro, small, and medium-sized businesses (MSMEs). The SEM-PLS approach was utilized to assess the effect of MSMEs\u27 owners\u27 competencies on the level of governance model implementation and the performance of MSMEs. The test results suggest implementing the governance model\u27s concept can improve business performance. To be effective, however, owners of MSMEs must be willing to invest in their professional growth. Thus, based on the research findings, the MSMEs governance model, which is unique to this study, can serve as a standard for MSMEs\u27 performance and a reference for various stakeholders involved in MSMEs\u27 development initiatives.JEL Classification: G3, M21How to Cite:Rinaldo, D., Sari, P. A., Sari, W. P. & Miharja, R. (2023). The Development of Good Micro, Small and Medium Enterprises Governance Indicators. Etikonomi, 22(1), 93–118. https://doi.org/10.15408/etk.v22i1.25625
Islamic Personality Model as Psychometric Tool To Assess Creditworthiness of Micro Financing
No full textThis study aims to develop an Islamic personality model as a psychometric tool to assess creditworthiness as an alternative predictive character analysis for micro businesses. The method designed to formulate the proposed model coded in R Studio uses two approaches. First, we modify Moslem Religiosity Personality Inventory and then frame a structural model based on Partial Least Square. Subsequently, we use the random forest technique to see the model\u27s accuracy. The result shows a valid and reliable model and performs with 89.47 % accuracy with an Area Under Curve -Receiver Operating Characteristic of 90.06 %. This model implies a solution to strengthen the assessment of the character of creditworthiness of a potential micro-business and helps Islamic Financial Institutions to assess prospective micro-business to determine credit risk and pricing.JEL Classification: B41, D81, D87, G21, P43How to Cite:Hardiansyah., Amalia, E., & Hamid, A. (2023). Islamic Personality Model as Pychometric Tool To Access Creditworthiness of Micro Financing. Etikonomi, 22(1), 233–246. https://doi.org/10.15408/etk.v22i2.30370
How Effective are Policy Interventions Against the COVID-19 Infection Rates?
No full textStudies on the COVID-19 pandemic are more likely to concentrate on the effects of the virus while ignoring its time-series characteristics, particularly its stationarity characteristics. Thus, this study attempts to investigate the effectiveness of policy interventions against COVID-19 by determining the permanent or transitory effects in 5 major regions and the ten most infected countries. Using the endogenous multiple breaks unit root tests introduced by Kapetanios (2005), the findings indicate that only the impacts of shocks to COVID-19 infection rates in France are likely to be permanent. However, the transitory effect is found in Brazil, Germany, Iran, Italy, Russia, Spain, Turkey, the United Kingdom, and the United States. The country where the shock has a permanent impact is suitable for policy interventions, including lockdowns, social isolation, and local isolation. While herd immunity, which protects the entire population against COVID-19, is better ideal for application in countries that experience shocks with a transitory effect.JEL Classification: C1, I15, I18How to Cite:Tang, C.F., & Tan, B.W. (2023). How Effective are Policy Interventions Against the COVID-19 Infection Rates? Etikonomi, 22(1), 1–14. https://doi.org/10.15408/etk.v22i1.28486
The Spillover Effect of Global Uncertainty on BRICS Stock Markets
No full textUsing monthly data spanning from 1993 to 2021 and employingthe DCC-GARCH model, this study examines the role ofEconomic Policy Uncertainty (EPU) as a potential exogenousfactor impacting the correlation of Brazil, Russia, India, andChina (BRIC) economies’ stock markets, which is new to theliterature. Further, this dynamic correlation series is used as adependent variable while EPU of BRIC and USA is used as anindependent variable by utilizing the autoregressive distributedlag (ARDL) model. The study finds a positive and significantshort-run as well as the long-run impact of Russia’s and theUS’s EPU on their stock markets. In other words, as the EPUof the USA increases, the correlation of BRIC with the USAStock Market and the World Stock Market increases, suggestingminimum diversification opportunities for the investors. Thestudy also recommends that investors diversify their portfoliosby considering cross borders assets avenues to gain maximumreturns and reduce portfolio risk.JEL Classification: E44, C32, E52, E60, E62, C58How to Cite:Nawaz, A. D., Bhutto, N. A., & Khan, S. (2023). The Spillover Effect of Global Uncertainty on BRICS Stock Markets. Etikonomi, 22(1), 45–64. https://doi.org/10.15408/etk.v22i1.24617
Mediating role of Environmental Education for Sustainable Supply chain Performance: Empirical Evidence from Chemical Companies of Pakistan
No full textPrevious studies have been conducted in developed countries, and only a few are conducted in developing countries. Furthermore, a contribution of this is that the mediating role of environmental education is considered in the present study. This study aimed to identify the mediating role of environmental education between internal environmental management, supplier selection, and green packaging on sustainable supply chain performance in Pakistan. A total of 250 chemical companies filled out the questionnaire. The findings of this study revealed a partial mediation effect of environmental education for internal environmental management, supplier selection, and green packaging in sustainable supply chain performance in Pakistan. However, the supplier selection results are more critical compared to internal environment management and green packaging due to the higher beta value. This study proposed a pivotal variable to achieve a sustainable supply chain in developing countries such as Pakistan.JEL Classification: Q01, Q51, Q54, Q56How to Cite:Junejo, I., Qureshi, F., & Khan, M. A. (2023). Mediating role of Environmental Education for Sustainable Supply Chain Performance: Empirical Evidence from Chemical Companies of Pakistan. Etikonomi, 22(1), 131–142. https://doi.org/10.15408/etk.v22i1.27139
The Influence of Halal Lifestyle on Career Women in Indonesia
No full textThe halal industry is experiencing rapid development, one of which is the increasing demand for halal products. Studying the halal lifestyle for career women is interesting because of the growing development of Muslim fashion and halal cosmetics. The originality of this research lies in a comprehensive study of the halal lifestyle in career women. This study aimed to determine the effect of religiosity, knowledge, awareness, and social environment on the halal lifestyle of career women in Jakarta Province. The respondents were 250 Muslim career women. The method of this research used the SEM-PLS method. The results of this research indicated that the variables of religiosity, awareness, and social environment significantly affect the halal lifestyle. Meanwhile, the knowledge variable does not affect the halal lifestyle. This research implies that halal industry producers must increase intense outreach and education to the public, especially among career women.JEL Classification: E31, F31, C22How to Cite:Salsabila, A. Y., & Ihsan, D. N. (2023). The Influence of Halal Lifestyle on Career Women in Indonesia. Etikonomi, 22(1), 197–212. https://doi.org/10.15408/etk.v22i1.30605
The Contribution of Islamic and Conventional Banks to Financial Stability in Indonesia
No full textThis study aims to examine an asymmetric relationship between Islamic and conventional bank contributions to financial stability in Indonesia. Adopting non-linear autoregressive distributed lag (NARDL), the study utilizes time-series data from 2004m1-2021m9, consisting of financial stability as a dependent variable, proxied by non-performing loans (NPLs) and ZSCORE. Islamic and conventional banks as independent variables were measured by total financing and total assets. Furthermore, we used interest rates and inflation as complementary variables. The findings reveal that Islamic and conventional banks affect financial stability in the short and long run. However, conventional banks contribute to financial stability more than Islamic banks. The asymmetric relationship explains that an increase/decrease in the independent variables to the same degree does not have the same impact on the dependent variable. This research implies that the financial authorities need to increase their awareness of the presence of asymmetric relationships when designing monetary policy to achieve and maintain financial stability. Finally, the study also fills the current research gap by measuring the contribution of Islamic and conventional banks to financial stability from an asymmetric relationship viewpoint.JEL Classification: E60, G20, G21How to Cite:Fakhrunnas, F., Nahda, K., Chowdhury, M.A.M. (2023). The Contribution of Islamic and Conventional Banks to Financial Stability in Indonesia. Etikonomi, 22(1), 213–232. https://doi.org/10.15408/etk.v22i2.26656
Determinants and Impacts of Trust on Awqaf Institutions: Intergenerational Evidence from Indonesia
No full textThis study evaluates the determinants and impacts of trust toward awqf institutions. We extend previous studies by examining the determining role of religiosity and knowledge on trust towards awqf institutions, in addition to the role of reputation and integrity. Our study differs from the previous studies as we incorporate the intergenerational analysis of 658 experienced and inexperienced Indonesian waqf donors by employing the PLS-SEM method. Our findings suggest that religiosity and knowledge significantly influence trust toward awqf institutions. However, the impact differs across generations X, Y, and Z. While the direct impacts of religiosity and knowledge on the intention to do cash waqf are insignificant for certain generations, the variables significantly impact the intention of all generations when moderated by the trust. Therefore, our primary implication is for awqf institutions to know their customers better and offer more trust-enhancing programs for the inexperienced younger generations.JEL Classification: Z12, L31How to Cite:Haidlir, B. M., Jatmiko, W., Azizon, A., Kasri, R. A., & Laksmono, B. A. (2023). Determinants and Impacts of Trust on Awqf Institutions: Intergenerational Evidence from Indonesia. Etikonomi, 22(1), 175–196. https://doi.org/10.15408/etk.v22i1.26307