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Journal of Economics, Business, & Accountancy Ventura
Number of Followers: 2  Open Access journalISSN (Print) 2087-3735 - ISSN (Online) 2088-785X Published by STIE Perbanas Surabaya  [3 journals]
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- Examining the Export-Led Growth Hypothesis: Empirical Evidence from Sudan
Authors: Mohamed Sharif Bashir, Ahmed Abdu Allah Ibrahim
Abstract: The current study analyzes the relationship between Sudan's income growth and exports from 1970 to 2020. The system of equations using the Autoregressive Distributed Lag (ARDL) approach has been employed. The ARDL results showed that there exists a long-run relationship between the variables considered in the estimated model. The researchers observed a negative lagged error-correction term coefficient, which is highly significant in all cases supporting cointegration. The result reveals the existence of a long-run equilibrium relationship between GDP, export, import, labor force, and trade policy. This confirms that the export-led growth hypothesis is valid for Sudan. Thus, the most essential conclusion is that the economy’s export expansion strategy is completely dependent on the imports of raw materials and capital inputs and the kind of goods being exported. The coefficient of import is of significance, which offers strong support for the import compression hypothesis. The most important policy implication of the findings is the implementation of an appropriate and optimal approach that can boost exports to increase economic growth substantially. Policy-makers should focus on export diversification strategies and invest more in Sudan’s ability to provide value-added services to meet international export demand.
PubDate: 2022-08-22
DOI: 10.14414/jebav.v25i1.2978
Issue No: Vol. 25, No. 1 (2022)
- Entrepreneurship Orientation and Performance of Green Economy SMEs during
COVID-19 Pandemic: The Mediating of Strategic Agility
Authors: Rofiaty Rofiaty, Ding Chong, Anis Nusron, Nindya Adha Yulianti, Sunaryo Sunaryo
Abstract: This study was conducted to analyze the effect of entrepreneurial orientation on company performance through strategic agility. This research uses the SEM analysis method with WarpPLS software. The sample of this study consisted of 204 actors and strategic decision-makers of green economy SMEs in Malang areas. The unit of analysis in this study is the green economy SME business players in the business of flower, fruit, and ornamental plants. This business field was chosen because it is environmentally friendly, the waste has minimal risk of environmental damage, and this business is at the same time healthy for the environment for business people, employees, and consumers. Data collection was collected by distributing questionnaires directly or via a Google Form. This study proves that entrepreneurial orientation has a direct and positive effect on improving company performance. This study has proven that entrepreneurial orientation positively affects company performance both directly and through strategic agility, so it can be concluded that strategic agility can partially mediate the effect of entrepreneurial orientation on company performance. The application of strategic agility/agility is proven to improve company performance. This study can enrich the study of strategic management theory in the context of Strategic Agility in a green economy. SMEs’ owners and managers improve their performance by increasing entrepreneurial orientation and strengthening strategic agility.
PubDate: 2022-07-29
DOI: 10.14414/jebav.v25i1.3001
Issue No: Vol. 25, No. 1 (2022)
- The Effect of Transparency, Accountability, and Subjective Norms on
Loyalty and Decisions of Muzakki
Authors: Kautsar Riza Salman
Abstract: This study aims to acquire empirical evidence regarding transparency and accountability on muzakki loyalty through muzakki satisfaction. In addition, this study aims to obtain empirical evidence regarding the effect of transparency and accountability on muzakki decisions through the interest of muzakki. This research is quantitatively conducted where the respondents are 50 zakat payers (muzakki) registered at LAZ Nurul Hayat Tuban. The study uses the Partial Least Square – Structural Equation Model (PLS-SEM) with SmartPLS software. The study results indicate that transparency affects the interest of muzakki in paying zakat, and the interest of muzakki in paying zakat affects the decision of muzakki to pay zakat. In addition, the study’s results also show that accountability affects muzakki satisfaction, and muzakki satisfaction affects muzakki loyalty. The research findings also provide new insights regarding the effect of subjective norms on muzakki’s interest and muzakki’s decision to pay zakat. The first implication of this research is that amil zakat institutions should pay attention to aspects of accountability to stakeholders, especially zakat payers (muzakki). The second implication is that the amil zakat institution should also pay attention to transparency to stakeholders, especially the zakat payers (muzakki). The third implication is that the amil zakat institution should continually educate the public regarding the responsibility to disburse zakat and its benefits for Muslims.
PubDate: 2022-07-28
DOI: 10.14414/jebav.v25i1.3010
Issue No: Vol. 25, No. 1 (2022)
- Macro-Econometric Model: Keynesian-Monetarist Synthesis of the
International Balance of Payments (The Indonesian Case)
Authors: Aris Soelistyo
Abstract: The study of the Keynesian-monetarist synthesis macroeconomic model on Indonesia’s balance of payments combines the goods market and money market approaches to Indonesia’s balance of payments theory. This study used three models of shortness to balance payments: Keynesian, monetarism, and synthesis of Keynesian and monetarism methods. Data was used from 1998 to 2019 from International Monetary Fund, international financial statistics, and balance sheet book from Bank Indonesia statistics report. The data is analyzed using reduced-form regression analysis. The results show that based on the monetarist approach to the balance of payments, it is found that the effect of the money multiplier on the international balance of payments; the magnitude of which is strongly influenced by the size of the high-powered money or the monetary base; has a negative effect on the international balance of payments, while the Net Domestic Assets has a positive effect on the international balance of payments. In the Keynesian model of the international balance of payments, it is found that government spending, world income, and domestic prices have a negative effect on Indonesia’s balance of payments. Based on the Keynesian-monetary syntheses approach to the balance of payments, it is found that government spending and domestic prices have a negative effect on the international balance of payments; the higher the level of government spending and the level of domestic prices will reduce foreign exchange reserves. At the same time, an increase in foreign income, in this case, an increase in US GDP, will increase Indonesia’s foreign exchange reserves.
PubDate: 2022-07-28
DOI: 10.14414/jebav.v25i1.2606
Issue No: Vol. 25, No. 1 (2022)
- Complementarity of Management Control Mechanisms in a Lean Organization:
The Effect of Consensus on Lean Thinking Strategy
Authors: Kevin Hermanto Tupamahu
Abstract: This study aims to examine the complementarity effect of lean management control mechanisms (lean performance measurement, employee empowerment, visual control, standard operating procedures, and peer pressures) on company performance (operations and financial performance). Besides, this study also tests whether the consensus on lean thinking has affected the relationship between the lean management control mechanisms and the company’s performance. The data was collected by survey with 159 managers from manufacturing companies. The data is then analyzed using the AMOS-SEM and shows that lean management control mechanisms work complementary to increase operation and financial performance in lean manufacturing companies. Second, consensus on lean thinking strategies acts as a moderating variable and positively affects the relationship between lean management control mechanisms and financial performance. This study recommends that lean companies should implement control mechanisms that align with lean thinking. These control mechanisms should be used together to complement each other to maximize the performance benefits that can be derived from lean thinking implementation. In addition, to strengthen the benefits derived from the use of lean control mechanisms, companies need to pay attention to the consensus in implementing lean thinking strategies.
PubDate: 2022-07-26
DOI: 10.14414/jebav.v25i1.3046
Issue No: Vol. 25, No. 1 (2022)
- The Nexus between Financial Inclusion and Monetary Policy: The Case Study
of Selected ASEAN Countries
Authors: Messayu Dara Komala, Wahyu Widodo
Abstract: This study examines the relationship between financial inclusion and monetary policy in nine selected ASEAN (Association of Southeast Asian Nations) countries during 2010-2019. To answer the objective of this study, the Vector Error Correction Model (VECM) is used to analyze the effect of financial inclusion on inflation as a proxy of monetary policy effectiveness. In addition, the causality between financial inclusion and monetary policy is also examined in this study. The data used are panels data and collected through secondary sources. The multidimensional approach of IFI (index of financial inclusion) is constructed to represent a comprehensive financial inclusion measurement. The results showed that financial inclusion had a negative effect on inflation in the long-term and short-term; it indicates that an increase in financial inclusion will lower inflation which eventually increases the effectiveness of monetary policy in Indonesia, Malaysia, Thailand, Philippines, Singapore, Vietnam, Cambodia, Myanmar, and Laos. Moreover, a causality exists between financial inclusion indicators and monetary policy in selected ASEAN countries. This study concludes that financial inclusion through access and usage of financial services improves the efficiency of monetary policy in nine selected ASEAN countries in controlling inflation. This study suggests that monetary authorities must emphasize the link between financial inclusion and monetary policy objectives. Advanced financial inclusion can help policymakers formulate and implement monetary policies contributing to economic stability and sustainable growth.
PubDate: 2022-07-25
DOI: 10.14414/jebav.v25i1.2920
Issue No: Vol. 25, No. 1 (2022)
- The Model of GDP Growth in ASEAN-4 Countries: Control of Corruption as an
Inter-vening Variable
Authors: Benny Budiawan Tjandrasa, Vera Intanie Dewi
First page: 1
Abstract: The purpose of this study is to analyze various macroeconomic factors that affect Gross Domestic Product growth in ASEAN-4 countries. The type of research is descriptive and explanatory. The research method used is the quantitative method. Based on the phenomenon, purposive sampling is used to determine the countries studied. Using secondary data, the panel data is formed from a combination of countries and a certain period of years. Multivariable regression is used to process panel data. The results show that inflation rate, political stability, and control of corruption have a significant effect on GDP growth. The novelty of this research is the new model of GDP growth in ASEAN-4 countries where control of corruption serves as an intervening variable that affects GDP growth. The findings suggest that to maintain an increase in GDP growth in this region, the governments should keep the inflation rate under control and continue striving to reduce corruption. Controlling the level of corruption can be done by maintaining the stability of the political situation and controlling the inflation rate.
PubDate: 2022-07-31
DOI: 10.14414/jebav.v25i1.3059
Issue No: Vol. 25, No. 1 (2022)
- Related Party Transactions and Corporate Governance in Business Group:
Evidence from Indonesia
Authors: Perdana Wahyu Santosa, Sovi Ismawati Rahayu, Zainal Zawir Simon, Martua Eliakim Tambunan
First page: 10
Abstract: This paper aims to offer new evidence as to how sub-related party transactions (RPTs) can be related to corporate governance for Indonesia's business group. We address an ongoing theoretical tension and some recent research in the RPTs literature by focusing on revenue, expenses, loans, and receivables. Business groups are classified by size or market capitalization. This paper examines whether RPTs in the business group relate with domestic/foreign shareholders, independent board/commissioner, and firm size as controlling factors. The business groups were
selected through purposive sampling that met the analysis criteria with their typology in the population of business groups listed on IDX. We used panel data analysis for four models. This relationship is more pronounced than some recent research for business group firms and firms with more highly concentrated foreign ownership regarding the effect RPTs on revenue, expenses, loans, and receivables. Related to the controlling variable, firm size shows a significant effect on every sub RPTs. The results may imply that foreign ownership exploits Indonesia with expenses such as cross-border transactions of capital goods, intangible property (royalty), intra-firm services, and the cost of debt. Therefore, there is a need for a balanced interest for government and business in Indonesia via foreign direct
investment with corporate governance implementation and adaptive regulation.
PubDate: 2022-07-29
DOI: 10.14414/jebav.v25i1.2719
Issue No: Vol. 25, No. 1 (2022)
- The Role of Social Media Activities to Enhance Brand Equity
Authors: Angga Febrian, Dhiona Ayu Nani, Lia Febria Lina, Nurul Husna
First page: 20
Abstract: The direct impact of the economic downturn due to Covid-19 is mainly perceived by Micro, Small, and Medium Enterprises (MSMEs). This study aims to examine how MSMEs can understand customer needs regarding the provision of social media quality that can improve brand image and brand awareness. The survey was conducted on 145 respondents who had online shopping experience using social media by utilizing the structural equation modeling approach. Results show that social media quality can increase brand awareness, brand image, and social media marketing activities. Therefore, marketers who use social media can focus on its constituent indicators including content quality, design quality, information quality, interaction quality, contact availability, and contact relevance. Customers will have a high level of brand awareness and a good brand image if marketers can provide social media quality to meet customer demands. While previous studies found that there is a positive relationship between social media marketing activities on brand image and brand awareness, this study shows the opposite result because customers are not affected by the activities carried out by social media. This is considered a usual activity that other marketers also carry out. The implication of this study is that good social media quality is needed to increase brand awareness, brand image, and social media marketing activities.
PubDate: 2022-07-29
DOI: 10.14414/jebav.v25i1.2881
Issue No: Vol. 25, No. 1 (2022)
- COVID-19’s Damages on International Stock Markets
Authors: Sylvia Susilo, Sukmawati Sukamulja
First page: 31
Abstract: This research aims to analyze the effect of pandemic that hit the world: COVID-19 on return of the international stock market from March 11, 2020 until March 11, 2022. COVID-19 is measured by growth in cases and death. The novelty from this research is the use of 30 countries with the highest COVID-19’s cases. Methods of analysis used in this research are Error Correction Model (ECM) and Granger’s Causality Test using EViews 10. ECM’s result on X1 to Y show a significant effect on 22 countries in long-term and 22 countries in short-term. X2 and Y in ECM’s result show a significant effect on 23 countries in long-term and 26 countries in short-term. Two-way causality on X1 and Y occurred in 25 countries. Variables X2 and Y showed two-way causality on 28 countries. This research conducted to contribute for research and observation of the phenomenon that currently engulfing the world, COVID-19 pandemic.
PubDate: 2022-07-29
DOI: 10.14414/jebav.v25i1.2999
Issue No: Vol. 25, No. 1 (2022)
