Buletin Studi Ekonomi Print ISSN 1410-4628 and Online ISSN 2580-5312 published by the Faculty of Economics, University of Udayana. Published biannually in February and August. Contain writings lifted from the results of research in economics.
STUDI KOMPARATIF KETERKAITAN KEBIJAKAN MAKROPRUDENSIAL TERHADAP EMISI KARBONDIOKSIDA DI NEGARA MAJU DAN BERKEMBANG
Penelitian ini menganalisis dampak kebijakan makroprudensial terhadap emisi CO2 di negara maju dan berkembang periode 2010–2023 menggunakan estimasi Panel Least Square. Temuan utama mengungkap bahwa emisi CO₂ secara signifikan mengganggu stabilitas keuangan melalui risiko transisi dan iklim fisik. Negara maju berhasil mencapai decoupling pertumbuhan ekonomi dari emisi sehingga meminimalkan eksposur aset berisiko dan meningkatkan ketahanan keuangan sementara negara berkembang mengalami coupling yang memperbesar kerentanan sistemik. Secara khusus, Capital Adequacy Ratio efektif menekan emisi di negara maju, tetapi instrumen seperti Loan-to-Value dan Debt-to-Income kurang mendukung transisi rendah karbon di negara berkembang. Implikasi kebijakannya mencakup integrasi bobot risiko aset berbasis fosil bagi negara maju guna mempercepat decoupling, serta inovasi kredit adaptif dan koordinasi kebijakan untuk transisi hijau inklusif di negara berkembang. Penggabungan risiko iklim dalam regulasi makroprudensial pada akhirnya melindungi stabilitas keuangan sekaligus mencegah kerugian ekonomi global triliunan dolar akibat perubahan iklim. This study analyzes the impact of macroprudential policies on CO₂ emissions in advanced and developing economies over 2010–2023 using Panel Least Square estimation. Key findings indicate that CO2 emissions significantly disrupt financial stability through transition and physical climate risks. Advanced economies achieve decoupling of economic growth from emissions thus minimizing risky asset exposure and enhancing financial resilience while developing economies experience persistent coupling that amplifies systemic vulnerabilities. Specifically, the Capital Adequacy Ratio effectively curbs emissions in advanced economies, whereas instruments like Loan-to-Value and Debt-to-Income ratios inadequately support low-carbon transitions in developing ones. Policy implications include integrating fossil-based asset risk weights in advanced economies to accelerate decoupling, alongside adaptive credit innovations and policy coordination for inclusive green transitions in developing economies. Ultimately, embedding climate risks in macroprudential regulation safeguards financial stability while averting trillions in global economic losses from climate change.
Copyright (c) 2026 siti zulaika febrianti, M. Abd. Nasir (Author)
PENGARUH PENANAMAN MODAL ASING DAN TENAGA KERJA TERHADAP PEMBANGUNAN INKLUSIF DI INDONESIA
Penelitian ini bertujuan untuk menganalisis pengaruh penanaman modal asing atau Foreign Direct Investment (FDI) dan tenaga kerja terhadap pembangunan inklusif di Indonesia. Meskipun pembangunan ekonomi nasional terus menunjukkan tren positif, fenomena atas kesenjangan ekonomi dan kemiskinan masih menjadi sebuah tantangan yang kompleks serta utama dalam pembangunan di Indonesia. Hal ini menunjukkan bahwa pertumbuhan ekonomi yang tinggi tidak secara pasti akan sejalan dengan pemerataan manfaatnya kepada seluruh lapisan masyarakat. Sehingga perlu untuk memastikan bahwa pertumbuhan ekonomi tersebut bersifat inklusif dan mampu menjangkau seluruh lapisan masyarakat. Dalam konteks tersebut, peran modal asing diharapkan tidak hanya meningkatkan pertumbuhan ekonomi, tetapi juga membuka kesempatan kerja yang luas bagi masyarakat. Penelitian ini menggunakan pendekatan kuantitatif dengan metode pengumpulan data melalui observasi terhadap data sekunder yang diperoleh dari publikasi Bank Dunia, Badan Pusat Statistik (BPS) dan jurnal-jurnal selama periode penelitian. Dengan teknik analisis data yang digunakan adalah regresi linier berganda untuk mengetahui pengaruh variabel penanaman modal asing, manufaktur dan pengangguran terhadap indikator pembangunan ekonomi di Indonesia. Hasil penelitian menunjukkan bahwa penanaman modal asing dan manufaktur memiliki pengaruh terhadap pembangunan inklusif di Indonesia. Dengan demikian, optimalisasi pemanfaatan modal asing dan peningkatan sektor manufaktur dapat menjadi salah satu strategi dalam mewujudkan pembangunan ekonomi yang inklusif dan berkelanjutan. This study aims to analyze the influence of foreign direct investment (FDI) and labor on inclusive development in Indonesia. Although national economic development continues to show a positive trend, the phenomenon of economic inequality and poverty is still a complex and major challenge in development in Indonesia. This shows that high economic growth will not necessarily be in line with the equitable distribution of benefits to all levels of society. Therefore, it is necessary to ensure that economic growth is inclusive and able to reach all levels of society. In this context, the role of foreign capital is expected not only to increase economic growth, but also to open up wide job opportunities for the community. This study uses a quantitative approach with a data collection method through observation of secondary data obtained from publications of the World Bank, the Central Statistics Agency (BPS) and journals during the research period. The data analysis technique used is multiple linear regression to determine the influence of foreign investment, manufacturing and unemployment variables on economic development indicators in Indonesia. The results of the study show that foreign investment and manufacturing have an influence on inclusive development in Indonesia. Thus, optimizing the use of foreign capital and increasing the manufacturing sector can be one of the strategies in realizing inclusive and sustainable economic development.
Copyright (c) 2026 Olivia Putriana Limbong, Ni Putu Wiwin Setyari (Author)
PENGARUH TEKNOLOGI DAN KONDISI SOSIAL TERHADAP KINERJA USAHA PETANI PADI SAWAH DI KECAMATAN PAMONA PUSELEMBA
Penelitian ini bertujuan untuk menganalisis pengaruh teknologi dan kondisi sosial terhadap kinerja usaha petani padi sawah di Kecamatan Pamona Puselemba, Kabupaten Poso. Penelitian menggunakan pendekatan kuantitatif dengan metode survei. Sebanyak 100 petani padi sawah yang aktif dipilih melalui teknik purposive sampling berdasarkan kriteria yang telah ditetapkan. Data primer dikumpulkan melalui wawancara menggunakan kuesioner terstruktur, sedangkan data sekunder diperoleh dari instansi terkait dan literatur pendukung. Variabel penelitian diukur menggunakan skala Likert lima tingkat dan dianalisis dengan metode Structural Equation Modeling berbasis Partial Least Squares (SEM-PLS) menggunakan perangkat lunak SmartPLS. Hasil penelitian menunjukkan bahwa teknologi berpengaruh positif dan signifikan terhadap kinerja usaha petani padi sawah. Pemanfaatan alat dan mesin pertanian modern, akses informasi digital, serta penggunaan teknologi dalam pengambilan keputusan usaha tani berkontribusi terhadap peningkatan produktivitas dan efisiensi. Sebaliknya, kondisi sosial berpengaruh negatif dan tidak signifikan terhadap kinerja usaha, yang mengindikasikan bahwa tingkat pendidikan, pengalaman bertani, motivasi, dan keanggotaan kelompok tani belum berperan optimal dalam meningkatkan hasil usaha. Temuan ini menegaskan pentingnya penguatan adopsi teknologi guna meningkatkan kinerja usaha petani padi sawah. This study aims to analyze the effect of technology and social conditions on the business performance of lowland rice farmers in Pamona Puselemba District, Poso Regency. A quantitative approach with a survey method was employed. A total of 100 active lowland rice farmers were selected using purposive sampling based on predetermined criteria. Primary data were collected through structured questionnaire-based interviews, while secondary data were obtained from relevant institutions and supporting literature. Research variables were measured using a five-point Likert scale and analyzed using Structural Equation Modeling based on Partial Least Squares (SEM-PLS) with SmartPLS software. The results show that technology has a positive and significant effect on farmers’ business performance. The utilization of modern agricultural tools, access to digital information, and technology-based decision-making contribute to higher productivity and efficiency. In contrast, social conditions have a negative and insignificant effect on business performance, indicating that education level, farming experience, motivation, and farmer group membership have not yet optimally enhanced farm outcomes. These findings emphasize the strategic importance of strengthening technology adoption to improve the business performance of lowland rice farmers.
Copyright (c) 2026 Septian Aditya Kolompo, Martho Harry Melumpi, Feliks Arfid Guampe, Kristia Lenggo Bumbungan (Author)
DOES GOVERNANCE MATTER? THE CONDITIONAL IMPACT OF FISCAL DECENTRALIZATION ON PUBLIC WELFARE
Fiscal decentralization has been widely implemented in Indonesia with the objective of improving public welfare through greater local autonomy and more responsive public service delivery. Empirical results remain inconsistent, implying that the welfare implications of fiscal decentralization depend on complementary institutional arrangements. This study aims to examine the effect of fiscal decentralization and governance quality on public welfare in Indonesia, as well as to assess whether governance quality moderates the relationship between fiscal decentralization and public welfare outcomes. The study employs a quantitative approach using static panel data covering 29 provinces over the period 2015–2024. A fixed effects model is applied following a series of model selection tests, and mean-centering is used to address multicollinearity arising from interaction terms. The findings from FEM mean-centering (FEM_c) estimation indicate that fiscal decentralization and governance quality each exert a positive influence on public welfare, while the interaction results suggest that better governance strengthens the welfare-enhancing effect of fiscal decentralization. These results highlight that the benefits of fiscal decentralization are conditional upon institutional quality rather than automatic. The study contributes to the literature by integrating governance quality as a critical moderating factor, expanding existing theoretical frameworks on fiscal decentralization. It underscores that enhancing governance capacity at the local level is essential for ensuring that fiscal decentralization effectively improves public welfare in Indonesia.
Copyright (c) 2026 I Made Jyotisa Adi Dwipatna, Shadry Andriani, Regina (Author)
PENGARUH BELANJA PENDIDIKAN, KESEHATAN, DAN PDRB PER KAPITA TERHADAP PEMBANGUNAN MANUSIA
Pembangunan manusia menjadi salah satu ukuran untuk menggambarkan tingkat kesejahteraan masyarakat di suatu wilayah. Penelitian ini dilakukan untuk melihat realisasi belanja bidang pendidikan, kesehatan, dan PDRB per kapita apakah memengaruhi pembangunan manusia. Objek penelitian yang diamati mencakup 35 kabupaten/kota di Jawa Tengah dengan periode pengamatan tahun 2019 sampai 2023. Data bersumber dari Directorat Jenderal Perimbangan Keuangan dan Badan Pusat Statistik, kemudian dianalisis secara kuantitatif memanfaatkan regresi data panel melalui alat E-Views 12. Berdasarkan hasil pengujian, fixed effect model (FEM) dipilih sebagai pendekatan terbaik. Hasil studi menemukan bahwasanya belanja pendidikan tidak memengaruhi pembangunan manusia. Sementara belanja kesehatan serta PDRB per kapita memengaruhi pembangunan manusia secara positif dan signifikan. Kombinasi belanja pendidikan, kesehatan serta kondisi PDRB per kapita memiliki peran penting dalam memengaruhi tingkat pembangunan manusia di kabupaten/kota Jawa Tengah selama tahun 2019–2023. Temuan ini mengindikasikan perbaikan capaian IPM bukan sekadar bergantung dari besarnya anggaran daerah, melainkan termasuk efektivitas pengelolaannya serta peningkatan PDRB per kapita. Human development is one of the indicators used to describe the level of public welfare in a region. This study was conducted to examine the impact of spending on education, health, and GRDP per capita on human development. The objects studied included 35 districts / cities in Central Java with an observation period from 2019 to 2023. The data used came from the Directorate General of Fiscal Balance and Statistics Indonesia (BPS), which were subsequently analyzed quantitatively using panel data regression with the E-Views 12 tool. Based on the test result, the fixed effect model (FEM) was selected as the best approach. The research result show that education spending has no impact on human development. While health spending and GRDP per capita have a positive and significant impact on human development. The combination of education and health expenditures, as well as GRDP per capita, plays an important role the development of human potential in the districts/cities of Central Java during the period 2019–2023. This result suggests that improvements in the HDI depend not only on the size of the regional budget, but also on the effectiveness of its management and an increase in GRDP per capita.
Copyright (c) 2026 Novi Fitriyana, Risqi Noor Hidayati Putri (Author)
PENGARUH LITERASI KEUANGAN, PERSEPSI RISIKO, DAN FOMO TERHADAP NIAT INVESTASI CRYPTOCURRENCY
Perkembangan cryptocurrency terus mendorong peningkatan partisipasi generasi muda, meskipun tren ini selalu dibayangi oleh volatilitas pasar yang ekstrem dan dominasi bias emosional. Mengingat tingginya potensi kerugian finansial akibat bias tersebut, kajian mengenai niat investasi menjadi sangat krusial sebagai langkah antisipatif sebelum perilaku investasi berisiko benar-benar direalisasikan. Oleh karena itu, penelitian ini bertujuan untuk menganalisis pengaruh literasi keuangan, persepsi risiko, dan fear of missing out (FOMO) terhadap niat investasi cryptocurrency masyarakat di Kota Mataram. Penelitian ini menggunakan pendekatan kuantitatif dengan melibatkan 100 responden yang dipilih melalui metode purposive sampling. Analisis data kuesioner dilakukan menggunakan perangkat lunak SmartPLS 4 melalui pendekatan Partial Least Squares-Structural Equation Modeling (PLS-SEM). Hasil penelitian menunjukkan bahwa persepsi risiko berdampak negatif dan signifikan terhadap niat investasi. Sebaliknya, literasi keuangan dan FOMO terbukti memiliki pengaruh positif dan signifikan terhadap niat investasi. Temuan ini menegaskan relevansi Theory of Planned Behavior dan Prospect Theory, serta memberikan rekomendasi bagi pemangku kepentingan untuk meningkatkan program edukasi keuangan guna membantu masyarakat membuat keputusan investasi yang lebih rasional. The development of cryptocurrency continues to drive increased participation among the younger generation, although this trend is consistently shadowed by extreme market volatility and the dominance of emotional biases. Given the high potential for financial losses stemming from these biases, studying investment intention is crucial as an anticipatory measure before risky investment behaviors are actually realized. Therefore, this study aims to analyze the effect of financial literacy, risk perception, and fear of missing out (FOMO) on cryptocurrency investment intention among the public in Mataram City. This research employs a quantitative approach involving 100 respondents selected through a purposive sampling method. Questionnaire data were analyzed using SmartPLS 4 software through the Partial Least Squares-Structural Equation Modeling (PLS-SEM) approach. The results indicate that risk perception has a negative and significant impact on investment intention. Conversely, financial literacy and FOMO are proven to have a positive and significant effect on investment intention. These findings affirm the relevance of the Theory of Planned Behavior and Prospect Theory, providing recommendations for stakeholders to enhance financial education programs to help the public make more rational investment decisions.
Copyright (c) 2026 Rio Abadi Gunawan, G.A. Sri Oktaryani (Author)
PENGARUH E-WOM TERHADAPA EFEKTIVITAS LIVE STREAMING: MODERASI PERSEPSI NILAI PRODUK PADA KONSUMEN PEREMPUAN
Penelitian ini bertujuan untuk menganalisis pengaruh electronic word of mouth melalui ulasan dan rating toko terhadap efektivitas live streaming shopping, serta menilai peran persepsi nilai produk sebagai variabel quasi moderasi. Data dikumpulkan dengan survei online cross sectional terhadap mahasiswi pengguna e-commerce di Kota Maumere. Data penelitian dianalisis dengan regresi linear berganda menggunakan SPSS 26. Hasil penelitian menunjukkan bahwa ulasan berpengaruh negatif terhadap efektivitas live streaming, sedangkan rating toko berpengaruh positif terhadap efektivitas live streaming. Sementara itu, persepsi nilai produk tidak terbukti berpengaruh secara langsung terhadap efektivitas live streaming. Pengujian moderasi menunjukkan bahwa persepsi nilai produk mampu memperkuat hubungan antara ulasan dan efektivitas live streaming, namun tidak mampu memoderasi hubungan antara rating toko dan efektivitas live streaming. Implikasi penelitian ini menekankan pentingnya pengelolaan kualitas ulasan dan strategi peningkatan nilai produk dalam meningkatkan efektivitas pemasaran melalui live streaming. This study aims to analyze the effect of electronic word of mouth through store reviews and ratings on the effectiveness of live streaming shopping, as well as to assess the role of product value perception as a quasi-moderating variable. Data were collected through a cross-sectional online survey of female e-commerce users in Maumere City. The research data were analyzed using multiple linear regression with SPSS 26. The results show that reviews have a negative effect on the effectiveness of live streaming, while store ratings have a positive effect on the effectiveness of live streaming. Meanwhile, product value perception has no direct effect on the effectiveness of live streaming. Moderation testing shows that perceived product value can strengthen the relationship between reviews and live streaming effectiveness, but cannot moderate the relationship between store ratings and live streaming effectiveness. The implications of this study emphasize the importance of managing review quality and product value enhancement strategies in improving marketing effectiveness through live streaming.
Copyright (c) 2026 Eugenius Besli, Hersanius Kurnia Peong, Yohanes Mario Vianney (Author)
PERAN CITRA MEREK MEMEDIASI PENGARUH DAYA TARIK IKLAN TERHADAP NIAT BELI PRODUK HIJAU SENSATIA BOTANICALS
Pola konsumsi masyarakat kini dipengaruhi oleh kesadaran terhadap lingkungan, sehingga memicu minat terhadap produk ramah lingkungan. Sensatia Botanicals, merek perawatan kulit hijau asal Bali, berhasil menjadi merek yang paling dikenal, bahkan berekspansi ke pasar internasional. Studi ini bertujuan menguraikan peran citra merek guna memediasi pengaruh daya tarik iklan terhadap niat beli. Penelitian ini dilaksanakan di Kota Denpasar dengan melibatkan 120 responden, melalui metode survei, menggunakan kuesioner secara daring dan luring. Penentuan sampel dengan metode non probability sampling teknik purposive sampling. Hasil penelitian menyatakan seluruh hipotesis diterima. Daya tarik iklan ada pengaruh positif juga signifikan terhadap niat beli. Daya tarik iklan ada pengaruh positif juga signifikan terhadap citra merek. Citra merek ada pengaruh positif juga signifikan terhadap niat beli. Citra merek memediasi secara parsial pengaruh daya tarik iklan terhadap niat beli produk perawatan kulit hijau Sensatia Botanicals di Kota Denpasar". Implikasi studi mendukung hierarchy of effect model dan menekankan pentingnya penyampaian iklan yang kreatif dalam membentuk citra merek untuk mendorong niat beli. Contemporary consumer behavior, driven by environmental awareness, boost demand for eco-friendly products. Sensatia Botanicals, a Bali-based skincare brand, offers green skincare solutions and has expanded globally. This study examines how brand image mediates effect of advertising appeal on purchase intention. This study was carried out in Denpasar City, involving 120 respondents selected purposively through a non-probability sampling technique. Data were gathered using both online and offline questionnaires, then analyzed using path analysis. The findings indicate that all proposed hypotheses are accepted. Advertising appeal positively and significantly influences purchase intention, as well as brand image. Additionally, brand image has a positive and significant impact on purchase intention. Furthermore, brand image partially mediates the relationship between advertising appeal and purchase intention for Sensatia Botanicals. The study suggests that the findings align with the hierarchy of effects model, emphasizing that creative advertising have a crucial role in shaping a strong brand image and enhancing consumers' purchase intentions.
Copyright (c) 2026 Putu Dian Sintya Dewi, I Gusti Ayu Ketut Giantari (Author)
PERAN WORK FAMILY CONFLICT DALAM MEMEDIASI PENGARUH BEBAN KERJA TERHADAP STRES KERJA KARYAWAN
Tujuan pelaksanaan penelitian yaitu menganalisis peran work family conflict sebagai variabel mediasi pada hubungan pada beban kerja dan stres kerja pegawai di Kantor Kecamatan Kuta Utara. Pendekatan kuantitatif diimplementasikan pada penelitian melalui teknik pengumpulan data diperoleh dengan wawancara pra-survei serta penyebaran kuesioner kepada 51 orang pegawai sebagai sampel penelitian. Data dianalisis melalui penggunaan statistik deskriptif, analisis jalur (path analysis), uji asumsi klasik, dan uji Sobel. Hasil penelitian menemukan bahwa beban kerja berpengaruh positif dan signifikan pada stres kerja, beban kerja juga berpengaruh positif dan signifikan pada work family conflict, dan work family conflict berpengaruh positif serta signifikan pada stres kerja. Selain itu, work family conflict terbukti memediasi secara signifikan hubungan antara beban kerja dan stres kerja. Temuan ini mendukung penerapan teori peran (role theory) dalam menjelaskan konflik antarperan di lingkungan kerja formal, serta menegaskan pentingnya pengelolaan beban kerja dan penerapan kebijakan organisasi yang mendukung keseimbangan peran guna menjaga kesejahteraan psikologis pegawai. This study aims to analyze the role of work-family conflict as a mediating variable in the relationship between workload and job stress among employees at the North Kuta District Office. The research employed a quantitative approach, with data collected through pre-survey interviews and questionnaires distributed to 51 employees as the research sample. Data were analyzed using descriptive statistics, path analysis, classical assumption tests, and the Sobel test. The findings indicate that workload has a positive and significant effect on job stress, workload also has a positive and significant effect on work-family conflict, and work-family conflict has a positive and significant effect on job stress. Furthermore, work-family conflict is proven to significantly mediate the relationship between workload and job stress. These results support the application of role theory in explaining inter-role conflict in formal work environments and emphasize the importance of workload management and organizational policies that promote role balance to maintain employees’ psychological well-being.
Copyright (c) 2026 Ni Kadek Indah Cahyani, Ayu Desi Indrawati (Author)
PENGARUH TALENT MANAGEMENT, ENTREPRENEUR MOTIVATION, ENTREPRENEUR ENGAGEMENT DALAM PENINGKATAN KINERJA KARYAWAN
Small and medium enterprises (SMEs) play a strategic role in regional and national economic growth, but the challenge they face is how to improve employee performance to be more productive and competitive. The purpose of this study was to examine how talent management, business motivation, and business engagement affect employee performance in the Tas SME business unit in Kedensari Village, Sidoarjo. This study used a quantitative approach with a purposive sampling technique applied to 186 employees. The Partial Least Square (PLS) method in SmartPLS 3.0 software was used to analyze data collected through a questionnaire with a Likert scale of 1-5. This study has several limitations. First, the scope of the study was limited to one SME business unit in Kedensari Village, Sidoarjo, so the results cannot be generalized. Second, data were collected through a Likert scale questionnaire that relies on the subjective perceptions of respondents. Third, the study only highlighted three main variables without considering other factors, such as organizational culture, leadership, and employee welfare. Further studies are recommended to explore additional variables for a more comprehensive understanding of employee performance in SMEs. This research provides an important contribution to human resource management in small and medium industries (SMEs), through optimizing talent management, entrepreneur motivation, and employee engagement. Industri kecil dan menengah (IKM) memiliki peran strategis dalam pertumbuhan ekonomi daerah maupun nasional, namun tantangan yang dihadapi adalah bagaimana meningkatkan kinerja karyawan agar lebih produktif dan berdaya saing. Tujuan dari penelitian ini adalah untuk melihat bagaimana manajemen talenta, motivasi bisnis, dan keterlibatan bisnis mempengaruhi kinerja karyawan di unit usaha IKM Tas Desa Kedensari, Sidoarjo. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik purposive sampling diterapkan pada 186 karyawan. Metode Partial Least Square (PLS) pada software SmartPLS 3.0 digunakan untuk menganalisis data yang dikumpulkan melalui kuesioner dengan skala likert 1-5. Penelitian ini, terdapat beberapa keterbatasan. Pertama, cakupan penelitian terbatas pada satu unit usaha IKM di Desa Kedensari, Sidoarjo, sehingga hasilnya belum dapat digeneralisasikan. Kedua, data dikumpulkan melalui kuesioner skala Likert yang bergantung pada persepsi subjektif responden. Ketiga, penelitian hanya menyoroti tiga variabel utama tanpa mempertimbangkan faktor lain, seperti budaya organisasi, kepemimpinan, dan kesejahteraan karyawan. Studi lanjutan disarankan untuk mengeksplorasi variabel tambahan guna pemahaman lebih komprehensif terkait kinerja karyawan di IKM. Penelitian ini memberikan kontribusi penting bagi pengelolaan sumber daya manusia di industri kecil dan menengah (IKM), melalui optimalisasi manajemen talenta, motivasi entrepreneur, dan keterlibatan karyawan.
Copyright (c) 2025 Riska Tri Oktaviani, Rifdah Abadiyah, Hasan Ubaidillah (Author) https://creativecommons.org/licenses/by/4.0
PERAN PERCEIVED USEFULNESS MEMEDIASI PENGARUH PERCEIVED EASE OF USE TERHADAP ACTUAL USAGE
Penelitian ini bertujuan menguji peran perceived usefulness sebagai variabel mediasi dalam hubungan antara perceived ease of use dan actual usage pada pengguna QRIS di Kota Denpasar. Pendekatan penelitian menggunakan metode kuantitatif asosiatif dengan 150 responden yang dipilih melalui purposive sampling berdasarkan kriteria pengalaman menggunakan QRIS dan tingkat pendidikan minimal SMA/SMK. Pengolahan data dilakukan melalui uji validitas, reliabilitas, serta pengujian hipotesis dengan Hayes Process Macro Model 4. Hasil penelitian menunjukkan bahwa perceived ease of use berpengaruh positif dan signifikan terhadap actual usage maupun perceived usefulness. Selanjutnya, perceived usefulness berpengaruh positif signifikan terhadap actual usage dan terbukti memediasi hubungan antara perceived ease of use dan actual usage. Temuan ini mendukung pengembangan Technology Acceptance Model (TAM) serta memberikan implikasi praktis bagi pengelola QRIS dan penyedia layanan keuangan digital dalam merancang strategi inovasi dan promosi agar QRIS lebih mudah diakses, bermanfaat, dan mendorong peningkatan penggunaan aktual. Selain itu, pelaku usaha dan merchant juga diharapkan lebih proaktif dalam mengadopsi QRIS guna meningkatkan efisiensi transaksi dan memberikan kemudahan dalam proses pembayaran bagi konsumen. This study aims to examine the role of perceived usefulness as a mediating variable in the relationship between perceived ease of use and actual usage among QRIS users in Denpasar City. The research employed a quantitative associative approach with 150 respondents selected through purposive sampling based on their experience using QRIS and a minimum education level of senior high school or vocational school. Data were analyzed through validity and reliability tests, as well as hypothesis testing using the Hayes Process Macro Model 4. The results indicate that perceived ease of use has a positive and significant effect on both actual usage and perceived usefulness. Furthermore, perceived usefulness has a positive and significant effect on actual usage and is proven to mediate the relationship between perceived ease of use and actual usage. These findings support the development of the Technology Acceptance Model (TAM) and provide practical implications for QRIS administrators and digital financial service providers in designing innovation and promotion strategies to make QRIS more accessible, useful, and capable of increasing actual usage. Additionally, business actors and merchants are expected to be more proactive in adopting QRIS to enhance transaction efficiency and facilitate the payment process for consumers.
Copyright (c) 2026 Ni Kadek Dilla Danaputri, Anak Agung Gede Agung Artha Kusuma (Author)
PENGARUH WOM TERHADAP NIAT BELI KONSUMEN DENGAN BRAND IMAGE SEBAGAI VARIABEL MEDIASI
The rapid advancement of technology in the tourism industry has driven a significant shift toward digital-based services and intensified competition among online travel agents (OTAs). Traveloka is one of the companies capitalizing on this development. This study aims to analyze the mediating role of brand image in the influence of word of mouth (WOM) on consumers’ purchase intention. The research was conducted with prospective consumers in Denpasar City who had never purchased Traveloka’s products, using a purposive sampling technique with 120 respondents. Data were collected through an online questionnaire (Google Form) and analyzed using path analysis and the Sobel test with the assistance of SPSS for Windows. The findings reveal that WOM has a positive and significant effect on brand image; both WOM and brand image positively and significantly influence purchase intention; and brand image significantly mediates the effect of WOM on purchase intention. This study provides empirical contributions to marketing science by highlighting the role of WOM and brand image in shaping consumer purchase intention within the digital tourism industry. Perkembangan teknologi dalam industri pariwisata semakin pesat, ditandai dengan pergeseran menuju layanan digital dan meningkatnya persaingan antar online travel agent (OTA). Traveloka merupakan salah satu perusahaan yang memanfaatkan peluang tersebut. Penelitian ini bertujuan untuk menganalisis peran brand image sebagai variabel mediasi dalam pengaruh word of mouth (WOM) terhadap niat beli konsumen. Responden penelitian adalah calon konsumen di Kota Denpasar yang belum pernah membeli produk Traveloka, dengan jumlah sampel 120 orang menggunakan teknik purposive sampling. Data dikumpulkan melalui kuesioner daring (Google Form) dan dianalisis menggunakan path analysis serta uji Sobel dengan bantuan SPSS for Windows. Hasil penelitian menunjukkan bahwa WOM berpengaruh positif dan signifikan terhadap brand image; WOM dan brand image berpengaruh positif dan signifikan terhadap niat beli konsumen; serta brand image secara signifikan memediasi pengaruh WOM terhadap niat beli konsumen. Temuan ini memberikan kontribusi empiris bagi pengembangan ilmu pemasaran, khususnya dalam memahami peran WOM dan brand image dalam membentuk niat beli konsumen pada industri pariwisata berbasis digital.
Copyright (c) 2025 Putu Adi Saputra, Gede Bayu Rahanatha (Author) https://creativecommons.org/licenses/by/4.0
DAMPAK PROGRAM REVITALISASI PASAR TERHADAP PENDAPATAN PEDAGANG
The trade center is one indicator of community economic activity. Currently, there are two types of goods markets that are developing, namely traditional markets and modern markets. The emergence of modern shopping centers such as minimarkets, supermarkets, and hypermarkets is disrupting the existence of traditional markets. The similarity of functions between modern shopping centers and traditional markets has given rise to competition between the two. The purpose of this study was to determine the impact of the market revitalization program on increasing the income of traders at the Petang Market, Badung Regency. The number of samples taken were 61 traders. Data was collected based on the results of observations, in-depth interviews and structured interviews. This study uses the Wilcoxon test to examine the impact of the revitalization program on the income of traders at the Petang Market, Badung Regency. Based on data processing regarding the impact of traditional market revitalization on traders' income, the Asymp.Sig value is obtained. (2-Tailed) is 0.008 and for the one-tailed test value the number is divided in half so that it becomes 0.004 then H1 is accepted. This means that there is an increase in the income of traders after the implementation of the revitalization program at the Petang Market, Badung Regency. Pusat perdagangan merupakan salah satu indikator kegiatan ekonomi di masyarakat. Saat ini terdapat dua jenis pasar barang yang telah berkembang yaitu pasar tradisional dan pasar modern. Eksistensi pusat perbelanjaan modern seperti minimarket, supermarket hingga hipermarket mengusik keberadaan pasar tradisional. Kesamaan fungsi yang dimiliki oleh pusat perbelanjaan modern dan pasar tradisional menimbulkan persaingan antara keduanya. Tujuan dilakukannya penelitian ini adalah untuk mengetahui dampak program revitalisasi pasar terhadap peningkatan pendapatan pedagang di Pasar Petang Kabupaten Badung. Jumlah sampel yang diambil yaitu 61 pedagang. Data dikumpulkan berdasarkan dari hasil observasi, wawancara mendalam, dan wawancara terstruktur. Penelitian ini menggunakan uji Wilcoxon untuk menguji dampak program revitalisasi terhadap pendapatan pedagang di Pasar Petang Kabupaten Badung. Berdasarkan hasil pengolahan data mengenai dampak revitalisasi pasar tradisional terhadap pendapatan pedagang memperoleh nilai Asymp.Sig. (2-Tailed) adalah 0,008 dan untuk nilai uji satu sisi angka tersebut dibagi dua sehingga menjadi 0,004 maka H1 diterima. Hal ini berarti terdapat peningkatan pendapatan pedagang setelah dilaksanakannya program revitalisasi di Pasar Petang Kabupaten Badung.
Copyright (c) 2025 Ni Putu Mia Saraswati, Ida Ayu Nyoman Saskara, Sudarsana Arka (Author) https://creativecommons.org/licenses/by/4.0
PERAN STRES KERJA MEMEDIASI PENGARUH BEBAN KERJA TERHADAP SEMANGAT KERJA KARYAWAN
Human resources (HR) are a key factor in the success of the hospitality industry, making employee work spirit essential to achieving organizational goals. This study aims to analyze the mediating role of job stress in the relationship between workload and employee work spirit at Celebest Hotel Kuta. The research involved all 44 employees using a saturated sampling technique. Data were collected through a structured questionnaire survey and analyzed with Structural Equation Modeling (SEM) based on Partial Least Square (PLS). The results show that workload has a significant negative effect on work spirit and a significant positive effect on job stress, while job stress has a significant negative effect on work spirit. Mediation analysis confirms that job stress partially and complementarily mediates the effect of workload on work spirit, indicating that excessive workload reduces work spirit both directly and indirectly through stress. Theoretically, this study contributes to the literature on workload, job stress, and work spirit, while practically offering insights for hotel management to effectively manage workload and stress to sustain employee work spirit. Sumber daya manusia (SDM) merupakan faktor utama dalam keberhasilan industri perhotelan, sehingga semangat kerja karyawan penting untuk mendukung pencapaian tujuan organisasi. Penelitian ini bertujuan menganalisis peran stres kerja sebagai variabel mediasi dalam pengaruh beban kerja terhadap semangat kerja karyawan Celebest Hotel Kuta. Penelitian melibatkan seluruh 44 karyawan dengan teknik sampling jenuh. Data dikumpulkan melalui survei kuesioner dan dianalisis menggunakan Structural Equation Modeling (SEM) berbasis Partial Least Square (PLS). Hasil penelitian menunjukkan bahwa beban kerja berpengaruh negatif signifikan terhadap semangat kerja, serta berpengaruh positif signifikan terhadap stres kerja. Stres kerja juga berpengaruh negatif signifikan terhadap semangat kerja. Analisis mediasi membuktikan bahwa stres kerja memediasi secara parsial komplementer pengaruh beban kerja terhadap semangat kerja, sehingga peningkatan beban kerja menurunkan semangat kerja baik secara langsung maupun melalui stres kerja. Penelitian ini berkontribusi bagi literatur terkait beban kerja, stres kerja, dan semangat kerja, serta memberikan masukan praktis bagi manajemen hotel dalam mengelola beban kerja dan stres kerja secara efektif.
Copyright (c) 2025 I Made Wahyu Mega Putra Astika, I Gusti Made Suwandana (Author) https://creativecommons.org/licenses/by/4.0
MODERATING ROLE OF MARKET SHARE AND FINANCIAL HEALTH ON REAL EARNINGS MANAGEMENT AND COST EQUITY
This study looks at how market share and financial influence the connection between real earnings (REM) and cost of equity. It focuses manufacturing companies that are listed on the Indonesian Stock Exchange using data 2019 to 2021 as its research sample. REM is evaluated with a combination of abnormal CFO, low productivity, and abnormal discretionary cost, while cost of equity is measured with the Ohslon model. All findings from the regression analysis indicate that the presence of a collaborative business agreement and monetary support diminish the advantageous impact of REM on the equity cost. This suggest that REM could be a sign of competitive advantage, signaling a stable economy and better financial condition, thus reducing the cost of euit. In addition, the study shows that REM often shows information about the market situation through oversold activity, whereas all REM activities share information about financial health including oversold, overproduction, and identified abatement costs. This study contributes to the understanding of REM as an indicator of joint venture and financial health that can help reduce the cost of equity.
Copyright (c) 2025 Mumpuni Wahyudiarti Sitoresmi, Alex Johanes Simamora, Agustina Prativi Nugraheni (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH INTELLECTUAL CAPITAL DAN GOOD CORPORATE GOVERNANCE TERHADAP SUSTAINABLE GROWTH
Sustainable Growth is defined as a company's ability to grow without compromising its financial stability. Competition between companies is increasingly intense nowadays, requiring companies to demonstrate their growth prospects not only in the short term, but also in the long term. Companies strive to maintain stability by achieving sustainable growth. This study aims to analyze the effect of Intellectual Capital, Independent Commissioners, and Board Size on Sustainable Growth. This research uses quantitative methods with secondary data in the form of financial statement. The population of this study are non-primary consumer goods sector companies (consumer cyclicals) listed on the Indonesia Stock Exchange (IDX) during 2020-2023. Sampling in this study using purposive sampling technique. The amount of observation data in this study amounted to 104 data. The data analysis technique in this study is multiple linear regression. The analysis techniques used are descriptive statistical analysis, classical assumption test, coefficient of determination, F test, and t test. The results of this study indicate that intellectual capital has a positive impact on sustainable growth, independent commissioners have no impact on sustainable growth, and board size has a positive impact on sustainable growth. Sustainable Growth diartikan sebagai kemampuan perusahaan untuk bertumbuh tanpa mengorbankan stabilitas finansialnya. Saat ini tingkat persaingan antar perusahaan semakin tinggi, yang menyebabkan perusahaan harus menunjukkan prospek pertumbuhannya tidak hanya pada jangka pendek, tetapi juga untuk jangka panjang. Upaya perusahaan dalam menjaga stabilitasnya dilakukan dengan cara mewujudkan pertumbuhan berkelanjutan. Penelitian ini bertujuan ini menganalisis pengaruh dari Intellectual Capital, Komisaris Independen, dan Ukuran Dewan Direksi terhadap Sustainable Growth. Penelitian ini menggunakan metode kuantitatif dengan data sekunder berupa laporan keuangan. Populasi penelitian ini adalah perusahaan sektor barang konsumen nonprimer (consumer cyclicals) yang terdaftar dalam Bursa Efek Indonesia (BEI) selama tahun 2020-2023. Pengambilan sampel dalam penelitian ini menggunakan teknik purposive sampling. Jumlah data observasi pada penelitian ini berjumlah 104 data. Teknik analisis data pada penelitian ini adalah regresi linier berganda. Hasil penelitian ini menunjukkan bahwa intellectual capital berpengaruh positif terhadap sustainable growth, komisaris independen tidak berpengaruh terhadap sustainable growth, dan ukuran dewan direksi berpengaruh positif terhadap sustainable growth.
Copyright (c) 2025 Stevania Febriyani, Indra Kusumawardhani (Author) https://creativecommons.org/licenses/by/4.0
ANALYSIS OF FACTORS AFFECTING THE WAITING PERIOD OF EDUCATED WORKERS
Educated unemployed are the population of the labor force who do not yet have a job but have completed the upper secondary level of education. Currently the level of education is no longer a reference to get a job quickly, there are many other factors that can affect the time to get a job. This study aims to analyze the effect of education level, age, gender and training experience on the waiting period of educated workers in Denpasar City. This study used data sourced from the August 2022 Denpasar City Sakernas questionnaire and involved 895 communities as samples. The data were analyzed using SPSS based on multiple linear regression techniques. The results showed that university graduates had a shorter waiting period than high school graduates, age positively affected the waiting period, gender did not affect the waiting period, respondents who had training experience had a shorter waiting period than those who did not have training experience. Based on the results of the study, it is expected that the local government will be able to balance the harmony between education and labor demand, open more jobs, and increase human resources.
Copyright (c) 2025 Made Violita Rahmawati, I Wayan Wenagama (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH LINGKUNGAN KERJA DAN BUDAYA ORGANISASI TERHADAP KINERJA PEGAWAI MELALUI VARIABEL MOTIVASI
Human resources are one of the most important factors in an organization. Human factors (manpower) refer to all individuals involved in the organization, whether in leadership or subordinate roles. The purpose of this study is to examine and analyze the influence of the work environment and organizational culture on employee performance through motivation as a mediating variable among civil servants in the Mojokerto District Population and Civil Registration Office. The sample used was all employees of the Mojokerto District Population and Civil Registration Office, totaling 52 employees (saturated sample). Data was collected through questionnaires, and the collected data was analyzed using path analysis. The results of the study indicate that the work environment significantly influences employee performance, organizational culture significantly influences employee performance, the work environment does not influence work motivation, and organizational culture significantly influences work motivation. Additionally, work motivation does not mediate the influence of the work environment on employee performance, but another finding is that motivation mediates the influence of organizational culture on employee performance. Sumber daya manusia salah satu faktor penting dalam suatu organisasi. Faktor manusia (man power) adalah semua orang yang terlibat dalam organisasi tersebut, baik yang berkedudukan sebagai atasan maupun sebagai bawahan. Tujuan penelitian ini adalah untuk menguji dan menganalisis pengaruh lingkungan kerja dan budaya organisasi berpengaruh terhadap kinerja karyawan melalui motivasi sebagai variabel mediasi pada pegawai dinas kependudukan dan pencatatan sipil kabupaten mojokerto. sampel yang digunakan adalah seluruh pegawai dinas kependudukan dan pencatatan sipil kabupaten mojokerto yaitu 52 pegawai. Metode analisis yang digunakan adalah path analysis. Hasil penelitian menunjukkan bahwa lingkungan kerja berpengaruh signifikan terhadap kinerja karyawan, budaya organisasi berpengaruh signifikan terhadap kinerja karyawan, lingkungan kerja tidak berpengaruh terhadap motivasi kerja, dan budaya organisasi berpengaruh signifikan terhadap motivasi kerja. Motivasi kerja tidak memediasi pengaruh lingkungan kerja terhadap kinerja karyawan, namun motivasi memediasi pengaruh budaya organisasi terhadap kinerja karyawan.
Copyright (c) 2025 Firdaus Alfariz, Rosidi, Navi Muda (Author) https://creativecommons.org/licenses/by/4.0
DETERMINAN PDRB DI PROVINSI JAWA TIMUR TAHUN 2018–2023
From 2018 to 2023, the real Regional Domestic Product (RDP) of East Java Province was lower than the target set in the Regional Medium-Term Development Plan (RPJMD). The present study investigates the factors contributing to RDP by analysing the impact of population size, life expectancy, and poverty levels on East Java's RDP. Utilising a quantitative approach, this study employs panel regression analysis to examine changes in variables from year to year across all districts/cities. The data utilised in this study are secondary data sourced from publications by the Central Statistics Agency (BPS) of East Java Province, covering the years 2018 to 2023. The findings indicate that a higher life expectancy has a positive impact on GRDP. Conversely, increases in population size and poverty rates were found to have a negative impact on GRDP. While higher life expectancy is conducive to economic prosperity, uncontrolled population growth and persistent poverty have the potential to impede regional economic development. Consequently, there is a necessity for special interventions to address these adverse impacts. Antara tahun 2018 dan 2023, Produk Domestik Regional Bruto (PDRB) riil Provinsi Jawa Timur lebih rendah daripada target yang ditetapkan dalam Rencana Pembangunan Jangka Menengah Daerah (RPJMD). Penelitian ini menyelidiki faktor-faktor yang berkontribusi terhadap PDRB dengan menganalisis pengaruh jumlah penduduk, angka harapan hidup, dan tingkat kemiskinan pada PDRB Jawa Timur. Dengan menerapkan pendekatan kuantitatif, penelitian ini menerapkan analisis regresi panel untuk melihat perubahan variabel dari tahun ke tahun di seluruh kabupaten/kota. Data yang dipakai adalah data sekunder. Data tersebut bersumber dari publikasi Badan Pusat Statistik (BPS) Provinsi Jawa Timur. Publikasi tersebut mencakup tahun 2018 hingga 2023. Temuan menunjukkan bahwa angka harapan hidup yang lebih tinggi berdampak positif terhadap PDRB. Sebaliknya, peningkatan jumlah penduduk dan tingkat kemiskinan ditemukan memiliki dampak negatif terhadap PDRB. Meskipun peningkatan angka harapan hidup berkontribusi pada kemakmuran ekonomi, pertumbuhan penduduk yang tak terkendali dan kemiskinan yang persisten dapat menghambat pembangunan ekonomi daerah. Oleh karena itu, intervensi khusus diperlukan untuk mengatasi dampak negatif ini.
Copyright (c) 2025 Rafif Arkananta Arigya, Dyah Wulan Sari, Albertus Eka Putra Haryanto, Indra Nur Fauzi (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH KEKUATAN KEUANGAN DAN KEBIJAKAN DIVIDEN TERHADAP RETURN SAHAM PADA PERUSAHAAN SEKTOR MANUFAKTUR
Research on the impact of financial strength as measured by the Piotroski F-Score and dividend policy as measured by the dividend payout ratio (dividends per share / earnings per share) on stock returns. The novelty in this study lies in the use of more complex variables by combining financial strength and dividend policy to see the performance of the entity, as well as data samples from the manufacturing sector and the latest research period. The data used include manufacturing sector companies listed on the Indonesia Stock Exchange during the 2021–2023 period with a total of 134 observation data. The analysis method used is multiple linear regression to test the relationship between independent variables and stock returns. The results of the study indicate that financial strength as measured by the Piotroski F-Score has no effect on stock returns, while dividend policy as measured by the DPS ratio has a significant and positive effect on stock returns. Thus, this finding indicates that investors consider dividend policy more in making investment decisions than the company's financial strength. Studi ini menguji pengaruh kekuatan keuangan yang diukur dengan Piotroski F-Score serta kebijakan dividen yang diukur dengan rasio DPS (dividend per share) terhadap return saham. Kebaruan dalam penelitian ini terletak pada penggunaan variabel yang lebih kompleks dengan menggabungkan kekuatan keuangan dan kebijakan dividen untuk melihat kinerja dari entitas, serta sampel data dari sektor manufaktur dan periode penelitian terbaru. Data yang digunakan mencakup perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2021–2023 dengan total 134 data observasi. Metode analisis yang digunakan adalah regresi linear berganda untuk menguji hubungan antara variabel independen dan return saham. Hasil penelitian menunjukkan bahwa kekuatan keuangan yang diukur dengan Piotroski F-Score tidak memiliki pengaruh terhadap return saham, sedangkan kebijakan dividen yang diukur dengan rasio DPS memiliki pengaruh signifikan dan positif terhadap return saham. Dengan demikian, temuan ini mengindikasikan bahwa investor lebih mempertimbangkan kebijakan dividen dalam pengambilan keputusan investasi dibandingkan dengan kekuatan keuangan perusahaan.
Copyright (c) 2025 Mohammad Sufie Firzatullah, Yusni Warastuti (Author) https://creativecommons.org/licenses/by/4.0