Kajian Ekonomi dan Bisnis

FAKTOR PENENTU KINERJA KEUANGAN PEMERINTAH DAERAH DI PROVINSI SUMATERA SELATAN

Vicky Fernanda Anggraini — 2026-06-26

Regional financial performance is measured by the ability of a locality to productively deploy its budgetary resources, collect, and manage its own available funds to address local demands with a degree of fiscal independence from national budgetary support. The objective of this investigation is to assess how locally-generated income, infrastructure investment, and budgetary surplus determine the fiscal performance of local administrations. Employing a quantitative methodology, this research utilizes secondary data sourced from the official Local Government Budget Realization Reports, officially published by the Supreme Audit Agency (BPK) and the Department of Financial Supervision (DJPK). The study population includes all regencies/cities in South Sumatra province for the 2022-2024 period, with 54 samples selected using a saturated sampling method. Statistical analysis was carried out using multiple linear regression, with computational operations executed through SPSS v.25. Findings show that local government fiscal performance depends on regional revenue and public capital spending. Budgetary surplus is not a determining factor in the financial outcomes of regional administrations. An integrated assessment confirms that own-source revenue, capital expenditure, and fiscal surplus jointly contribute significantly to determining local government financial performance.

Keywords: Local revenue, capital expenditure, budget surplus, local government financial performance

PENGARUH BOIKOT DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN

Siti Fatimatul Zahro — 2026-06-26

This study aims to determine the effect of boycott and financial performance (CR, TATO, DER, and ROA) on firm value (P/E Ratio). The research method used was a quantitative approach with the period 2022-2024. The sample was selected using purposive sampling, resulting in 9 boycotted companies related to the boycott of pro-Israel products. The model specification test in this study employed panel data regression using the fixed effect model. The findings of this study indicated that: (1) boycott had a negative and significant effect on firm value, (2) company performance proxied by CR had no effect on firm value, (3) company performance proxied by TATO had no effect on firm value, (4) company performance proxied by DER had a negative and significant effect on firm value, and (5) company performance proxied by ROA had a negative and significant effect on firm value.

A DETERMINANTS OF DIVIDEND POLICY: EMPIRICAL EVIDENCE FROM INDONESIAN PUBLICLY LISTED COMPANIES

Theresia Trisanti — 2026-06-26

This study examines the determinants of dividend policy among Indonesian listed manufacturing firms. Specifically, it investigates the effects of sales, profitability, leverage, and asset growth on dividend payout ratio. The study employs secondary data obtained from 80 manufacturing firms listed on the Indonesia Stock Exchange during the 2023–2025 period, resulting in 320 firm-year observations. Multiple regression analysis is used to test the proposed hypotheses. The findings reveal that sales and profitability have a positive and significant effect on dividend payout, indicating that firms with stronger financial performance tend to distribute higher dividends to shareholders. In contrast, asset growth has a negative and significant effect, suggesting that firms with higher growth opportunities prefer to retain earnings for expansion. Meanwhile, leverage shows a negative but statistically insignificant relationship with dividend payout. Overall, the results highlight the trade-off between growth opportunities and dividend distribution decisions in emerging market contexts.

PENGARUH KEPERCAYAAN, KEAMANAN, PERSEPSI MANFAAT DAN PERSEPSI RISIKO TERHADAP KEPUTUSAN PEMBELIAN TIKET PESAWAT DI TRAVELOKA PADA GENERASI Z

Wahyu Alfano — 2026-06-26

This study aims to analyze the influence of trust, security, perceived usefulness, and perceived risk on the purchase decision of flight tickets on Traveloka among Generation Z. The rapid growth of digital travel platforms has shifted consumer behavior toward online transactions, making it essential to understand the factors that drive purchasing decisions in this segment. Using a quantitative research approach with multiple linear regression analysis, data were collected from 301 Generation Z respondents who had purchased flight tickets through the Traveloka application. The results show that trust did not significantly affect purchase decisions (t = 0.374, p = 0.709), while security (t = 9.523, p = 0.000) and perceived usefulness (t = 10.315, p = 0.000) each had a significant positive effect on purchase decisions. Perceived risk also did not significantly affect purchase decisions (p = 0.080). Simultaneously, all four variables significantly influenced purchase decisions with a coefficient of determination (R²) of 0.707, indicating that 70.7% of purchase decision variation was explained by these variables. Perceived usefulness emerged as the most dominant predictor (Beta = 0.460). These findings suggest that security and perceived usefulness are key drivers of flight ticket purchase decisions on Traveloka among Generation Z, and platform providers should prioritize enhancing transaction security systems and functional service benefits to increase consumer purchasing decisions.

HUBUNGAN KUALITAS PELAYANAN, WAKTU TUNGGU, DAN KOMUNIKASI TERAPEUTIK DENGAN KEPUASAN PASIEN RAWAT JALAN PENGGUNA JAMINAN KESEHATAN DI RUMAH SAKIT PKU MUHAMMADIYAH YOGYAKARTA

Syafiq Lutfi Mahri — 2026-06-26

Improving outpatient satisfaction is crucial as the coverage of health insurance through the National Health Insurance (JKN) program in Indonesia expands. This study examines three main factors: the relationship between service quality, waiting time, and therapeutic communication with the satisfaction of outpatients using health insurance at PKU Muhammadiyah Hospital, Yogyakarta. The research design used was quantitative analytical with a cross-sectional approach, with data collected from 60 outpatients using health insurance selected through purposive sampling. A questionnaire was used as the data collection instrument, and Spearman correlation was used for analysis using SPSS software. The analysis for service quality yielded a very strong relationship with patient satisfaction (rs = 0.854; p = 0.000), therapeutic communication also had a very strong relationship with patient satisfaction (rs = 0.852; p = 0.000), while waiting time produced a strong relationship with patient satisfaction (rs = 0.731; p = 0.000). These results indicate a relationship between service quality, waiting time, and therapeutic communication with the satisfaction of outpatients using health insurance at PKU Muhammadiyah Hospital, Yogyakarta.

PENGARUH KELELAHAN EMOSIONAL, KECEMASAN, DAN DEPRESI TERHADAP KINERJA (Studi Kasus Pemain eSports di Yogyakarta)

Fajrian Tri Retza Saputra — 2026-06-26

This study aims to analyze the influence of emotional exhaustion, anxiety, and depression on the performance of eSports players in Yogyakarta. The rapid growth of the eSports industry has created a highly competitive environment that exposes professional and semi-professional players to significant psychological pressures. Using a quantitative research approach with multiple linear regression analysis, data were collected from 100 eSports players in Yogyakarta through a questionnaire. The results show that emotional exhaustion did not significantly affect player performance (t = 1.685, p = 0.095), while anxiety (t = 4.351, p = 0.000) and depression (t = 6.859, p = 0.000) each had a significant positive effect on performance. Simultaneously, all three variables significantly influenced performance with a coefficient of determination (R²) of 0.826, indicating that 82.6% of performance variation was explained by these three psychological variables. Depression emerged as the most dominant predictor (Beta = 0.481). These findings suggest that psychological factors play a critical role in shaping eSports player performance and that team management should integrate mental health monitoring programs to maintain player well-being and optimize competitive performance.

PENGARUH ENTERTAINMENT CONTENT DAN EMOTIONAL CONTENT TERHADAP REWATCH INTENTION MELALUI MEDIASI SOCIAL MEDIA ENGAGEMENT

Tio Agustianto — 2026-06-26

Abstract

This study aims to examine the influence of entertainment content and emotional content on rewatch intention, as well as to analyze the role of social media engagement as a mediating variable among Generation Z in Klaten Regency. The population of this study consists of Gen Z individuals who access short videos through platforms such as TikTok, Instagram Reels, and YouTube Shorts. Data were collected using a survey method with a total sample of 114 respondents. The results show that entertainment content has a positive and significant effect on rewatch intention (β = 0.577; t = 14.399; p < 0.05) and on social media engagement (β = 0.453; t = 7.857; p < 0.05). In addition, emotional content also has a positive and significant effect on rewatch intention (β = 0.584; t = 12.454; p < 0.05) and on social media engagement (β = 0.544; t = 9.160; p < 0.05). Furthermore, social media engagement itself has a positive and significant effect on rewatch intention (β = 0.306; t = 4.605; p < 0.05). The mediation test results indicate that social media engagement is able to mediate the effect of entertainment content (indirect effect = 0.139; t = 3.967; p < 0.05) and emotional content (indirect effect = 0.166; t = 3.967; p < 0.05) on rewatch intention.

PENGARUH RISIKO KEUANGAN TERHADAP PROFITABILITAS BANK

Embun Pandansari — 2026-06-26

ABSTRACT

Bank profitability is an important benchmark for assessing bank performance. Profitability can be influenced by various types of financial risks, such as credit risk, liquidity risk, and operational risk. Increasing non-performing loans, suboptimal liquidity management, and high operating expenses have the potential to impact a bank's ability to generate profits. These conditions make analyzing the impact of financial risk on bank profitability crucial. This study aims to analyze the influence of credit risk, liquidity risk, and operational risk on the profitability of conventional banking companies listed on the Indonesia Stock Exchange (IDX) for the 2022-2024 period. Profitability is proxied by Return on Assets (ROA), while credit risk, liquidity risk, and operational risk are proxied by Non-performing Loans (NPL), the Loan Deposit Ratio (LDR), and Operating Expenses to Operating Income (BOPO). Quantitative analysis was used using panel data regression analysis using the EViews application. The analysis shows that credit risk and liquidity risk have a positive and significant effect on bank profitability, while operational risk has a negative but insignificant effect on bank profitability. The independent variables had a 21.50% influence, while the remaining 78.50% was influenced by other variables not included in this study.

Keywords: Credit Risk, Liquidity Risk, Operational Risk, Profitability, Return on Assets (ROA), Banking

PERAN USER ENGAGEMENT DALAM MEMEDIASI PENGARUH COOPERATION AFFORDANCE DAN PERCEIVED USEFULNESS TERHADAP USER RETENTION PADA GENERASI Z PENGGUNA GOPAY

Nawangsari Tejowati — 2026-06-26

Abstract

This research is motivated by the increasing competition in the e-wallet industry, making the ability to retain users an important factor in the sustainability of digital services. The research method employed was a quantitative approach, with data collected through questionnaires distributed to 117 Generation Z respondents who use GoPay in Klaten Regency. Data analysis was conducted using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with the assistance of the SmartPLS application. The results indicate that cooperation affordance has a positive and significant effect on user retention (β = 0.537; t = 7.042; p < 0.000). Perceived usefulness also has a positive and significant effect on user retention (β = 0.329; t = 4.270; p < 0.000). Furthermore, cooperation affordance has a positive and significant effect on user engagement (β = 0.622; t = 8.561; p < 0.000), while perceived usefulness has a positive and significant effect on user engagement (β = 0.216; t = 2.764; p < 0.006). The user engagement variable is also proven to have a positive and significant effect on user retention (β = 0.566; t = 5.287; p < 0.000). In addition, user engagement is able to mediate the effect of cooperation affordance on user retention (β = 0.352; t = 4.683; p < 0.000) and mediate the effect of perceived usefulness on user retention (β = 0.122; t = 2.249; p = 0.025). Overall, this study demonstrates that cooperation affordance, perceived usefulness, and user engagement are important factors in increasing the user retention of GoPay users.

PENGUJIAN PENGENDALIAN INTERNAL TERHADAP PERSEDIAAN BARANG DAGANG

Supriono Supriono — 2026-06-26

This building shop relies on a lot of inventory in its sales cycle, which is one of the important assets for the company. The role of internal control over inventory in a building store is very important to improve inventory safety. The purpose of this study was to identify and assess the level of effectiveness and efficiency in managing merchandise inventory and provide an overview of good and correct management and procedures in accordance with Standard Operating Procedures (SOP).

The data in this study is in the form of qualitative data in the form of merchandise inventory data, purchase transactions, and sales transactions. The data analysis technique uses audit techniques for merchandise inventory, namely checking the internal control of merchandise inventory using Internal Control Questionnaires, drawing conclusions, examining purchase and sale transactions, and checking inventory physical counts (stock taking). The sample in this study was 131 transactions, consisting of 40 types of goods in merchandise purchase transactions and 91 types of goods in merchandise inventory sales transactions.

The results of the compliance test on the level of effectiveness of merchandise inventory at the Tunjung Baru Building Store in period were 59%, which means that internal control is running quite effectively. Management of merchandise inventory carried out by employees is also in accordance with applicable procedures. The results of the substantive test are in accordance with the physical records in the warehouse and accounting records related to the purchase and sale of merchandise. The calculation has been carried out mathematically and has been affixed with a paid off stamp and the signature of the relevant party and authorization has been carried out from the store management.

ANALISIS PENGARUH RENCANA KEBIJAKAN REDENOMINASI RUPIAH TERHADAP SISTEM PEMBAYARAN DIGITAL DI INDONESIA

Irfan Mustofa — 2026-06-26

The development of digital payment methods in Indonesia is accelerating rapidly alongside the increasing use of e-wallets, QRIS, marketplaces, and mobile banking in public transactions, making digital payment systems a fundamental element in supporting monetary policy, including the planned rupiah redenomination. Rupiah redenomination is a policy aimed at simplifying the nominal value of the currency without changing its real value or purchasing power, with the objective of improving efficiency and governance within the financial system. This article analyzes the impact of the planned rupiah redenomination policy on digital payment methods in Indonesia using a descriptive literature review approach by examining various relevant sources. The findings indicate that Indonesia’s digital payment system is relatively ready to support the implementation of redenomination, although challenges remain in terms of technological adjustments, cybersecurity threats, and the potential for public confusion. In the long term, rupiah redenomination has the potential to enhance efficiency and transparency in Indonesia’s digital payment system.

Isomorphism in Value for Money based Budget Performance in the Special Region of Yogyakarta Provincial Government

Aditya Firmansyah Ramadhan — 2026-06-06

The reform of public financial management has encouraged local governments to implement performance-based budgeting systems oriented toward achieving outcomes and enhancing public accountability. One of the approaches commonly employed to assess budgetary performance is the Value for Money concept, which emphasizes the principles of economy, efficiency, and effectiveness. This study aims to analyze the implementation of Value for Money-based budget performance within Regional Government Organizations (OPDs) of the Special Region of Yogyakarta Province and to identify the phenomenon of institutional isomorphism influencing its implementation. The study employed an explanatory sequential design, beginning with quantitative analysis using scatter plots to identify the characteristics of OPDs’ budget performance, followed by a qualitative phase through in-depth interviews. Informants were selected through purposive sampling based on the quantitative findings, particularly from OPDs exhibiting distinctive characteristics or classified as outliers. Interviews were conducted with four informants directly involved in planning, budgeting, implementation, and budget management processes. The findings indicate that the implementation of Value for Money-based budget performance is influenced by institutional pressures in the form of normative and coercive isomorphism. Normative isomorphism is reflected in the obligation to conduct budget management in accordance with professional standards, technical guidelines, and prevailing regulations. Meanwhile, coercive isomorphism manifests through compliance requirements related to government regulations, evaluation mechanisms, and reporting systems. These institutional pressures promote the homogenization of budget management practices across OPDs in support of accountability and sound regional financial governance. The findings reinforce institutional theory by demonstrating that budget management practices in the public sector are shaped not only by considerations of economic rationality but also by the pursuit of legitimacy within the institutional environment.