Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.35508
Ika Yuli Setyowati, Nazaruddin Malik, M. S. W. Suliswanto
Research Originality: Human development is a complex issue faced by various countries worldwide. Technology is considered to have the potential to significantly impact the landscape of human development due to its potential for penetration. This research contributes to the development literature in Indonesia by focusing on the important aspects of the influence of socio-economic factors and technological capabilities on the quality of human development.Research Objectives: This research aims to analyse how socio-economic and technological capabilities influence the quality of human development in Indonesia.Research Methods: Using panel data from 34 provinces spanning the period from 2015 to 2022, the research employs a Panel Data Regression Analysis model with the best-fitted Fixed Effect model.Empirical Results: The results of this study indicate that socio-economic factors, as seen through unemployment and poverty, significantly negatively impact Indonesia's Human Development Index (HDI). Economic growth has an insignificant effect on Indonesia's HDI. Technological capabilities, measured through the ICT Development Index, and the proportion of adolescents and adults aged 15-59 with ICT skills, have a significantly positive impact on Indonesia's HDI.Implications: The results of this research identify factors that can either encourage or hinder HDI, offering valuable insights for government policymakers to enhance HDI in Indonesia, particularly in each region.JEL Classification: O15, O30, O47How to Cite:Setyowati, I. Y., Malik, N., & Suliswanto, M.S.W. (2024). Enhancing Human Development Quality in Indonesia: Socio-Economic and Technological Capabilities. Etikonomi, 23(1), 93 – 108. https://doi.org/10.15408/etk.v23i1.35508.
研究独创性：人类发展是世界各国面临的一个复杂问题。由于技术具有渗透潜力，因此被认为有可能对人类发展的前景产生重大影响。本研究通过关注社会经济因素和技术能力对人类发展质量的重要影响，为印尼的发展文献做出了贡献：本研究旨在分析社会经济和技术能力如何影响印度尼西亚的人类发展质量：研究方法：采用2015年至2022年期间34个省的面板数据，采用面板数据回归分析模型和最佳拟合固定效应模型：研究结果表明，失业和贫困等社会经济因素对印尼的人类发展指数（HDI）有显著的负面影响。经济增长对印尼的人类发展指数影响不大。通过信息和通信技术发展指数（ICT Development Index）衡量的技术能力以及 15-59 岁青少年和成年人中掌握信息和通信技术的比例对印尼的人类发展指数有显著的积极影响：本研究的结果确定了鼓励或阻碍人类发展指数的因素，为政府决策者提供了宝贵的见解，以提高印尼（尤其是各地区）的人类发展指数：O15、O30、O47How to Cite:Setyowati, I. Y., Malik, N., & Suliswanto, M.S.W. (2024).Enhancing Human Development Quality in Indonesia: Socio-Economic and Technological Capabilities.Etikonomi, 23(1), 93 - 108. https://doi.org/10.15408/etk.v23i1.35508.
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Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.33879
Shabeer Khan, Nur Amalia Aziza, Allah Ditta Nawaz
Research Originality: The stability of banking institutions is crucial for the overall financial health of a country. The originality of this paper lies in its innovative use of quantile regression analysis to provide a nuanced understanding of the factors influencing bank stability, particularly in the Indonesian context.Research Objectives: This research identifies factors influencing bank stability in Islamic and conventional banks in Indonesia.Research Methods: Utilizing quantile regression analysis to measure the impact of various factors at different quantiles, addressing the existing mixed findings in the literature. This study utilizes 15 years of data, encompassing 61 observations for Islamic banks and 779 observations for conventional banks in Indonesia.Empirical Results: The study identifies impaired loans as the primary determinant of bank stability in Indonesia, with a notably greater impact on conventional banks compared to Islamic banks. Notably, the upper quantile of Islamic banks indicates a decline or a lesser impact on bank stability. The paper additionally concludes that the stability of Islamic banks in Indonesia is comparatively lower than conventional banks.Implications: By offering insights into the different levels of factors affecting bank stability, the study contributes to the existing literature, sheds light on unique dynamics, and highlights potential recommendations for enhancing bank stability, especially in the context of non-performing loans.JEL Classification: C21, C23, G21How to Cite:Khan, S., Aziza, N. A., & Nawaz, A. D. (2024). Islamic and Conventional Banks Stability in Indonesia. Etikonomi, 23(1), 167 – 182. https://doi.org/10.15408/etk.v23i1.33879.
研究独创性：银行机构的稳定性对一个国家的整体金融健康至关重要。本文的独创性在于创新性地使用了量子回归分析法，对影响银行稳定性的因素进行了细致入微的了解，尤其是在印尼的情况下：本研究确定了影响印尼伊斯兰银行和传统银行稳定性的因素：利用量子回归分析来衡量各种因素在不同量级上的影响，从而解决现有文献中存在的不同研究结果的问题。本研究使用了 15 年的数据，包括对印尼伊斯兰银行的 61 次观察和对传统银行的 779 次观察：研究发现，减值贷款是印尼银行稳定性的主要决定因素，与伊斯兰银行相比，减值贷款对传统银行的影响明显更大。值得注意的是，伊斯兰银行的上四分位数表明其对银行稳定性的影响有所下降或较小。 本文还得出结论，印尼伊斯兰银行的稳定性相对低于传统银行：通过对影响银行稳定性的不同层面因素的深入分析，该研究为现有文献做出了贡献，揭示了独特的动态变化，并强调了增强银行稳定性的潜在建议，尤其是在不良贷款方面：C21, C23, G21如何引用：Khan, S., Aziza, N. A., & Nawaz, A. D. (2024).印度尼西亚伊斯兰银行和传统银行的稳定性。Etikonomi, 23(1), 167 - 182. https://doi.org/10.15408/etk.v23i1.33879.
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Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.37856
D. Nugraha, Budi Setiawan, Emilda Emilda, Muhammad Masyhuri, Mac Nhu Quynh, Robert Jeyakumar Nathan, Mária Fekete-Farkas, István Hágen
Research 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' post-COVID-19 pandemic fintech adoption intentions.Research Objectives: This study examines the impact of post-covid changes in people's 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's 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.
研究原创性：本研究论文丰富了有关金融科技采用驱动因素的现有文献，包括感知信任、个人创新能力、储蓄习惯和政府支持对印尼用户在COVID-19大流行后的金融科技采用意向的影响：本研究探讨了COVID后人们的行为变化、储蓄习惯和金融知识的加速普及对印尼金融科技用户加强技术采用模型（TAM）的影响。研究方法：研究人员对居住在印度尼西亚的 536 人进行了调查。数据采用结构方程模型与调节变量进行分析。实证结果：研究发现，易用性、实用性、信任度和个人创新性是推动采用意愿的关键因素。研究还发现，储蓄习惯会显著增加政府支持对金融科技采用的影响。影响：这项研究有两个重要意义。首先，数字金融公司应进一步提高金融科技应用程序的服务质量和安全性。其次，政府还应通过提供监管支持，鼓励扩大以金融科技为基础的初创企业生态系统，以加快印尼数字金融行业的发展：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.
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Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.32951
Masruri Muchtar, Hafid Asy’ari, Ahmad Rodoni, Euis Amalia, M. N. Hosen
Research Originality: The second-largest organisation after the UN, with a population of 24.4% worldwide, makes OIC countries a potential market. This paper contributes to the existing literature on trade within them by focusing on crucial aspects of the trade agreement's impact on the halal food industry.Research Objectives: This study examines the influence of a free trade agreement (FTA) on Indonesian halal food exports.Research Methods: Using panel data from 23 countries spanning the period from 2003 to 2019, the paper employs the gravity model to assess the impact of the FTA and other variables on Indonesian halal food exports to OIC countries.Empirical Results: The findings indicate that Indonesian food exports to OIC countries with FTAs experience a notable 68% increase compared to those without such agreements. The study reveals GDP, population size, trade openness, and exchange rate positively affect food exports to OIC countries. However, trading partners' distance and entry time exhibit a negative correlation.Implications: This research holds significance for the Indonesian government as it provides valuable insights for considering the acceleration of trade agreement ratification with OIC countries. JEL Classification: F13, F47, C68How to Cite:Muchtar, M., Hafid, A., Rodoni, A., Amalia, E., & Hosen, M. N. (2024). Does a Free Trade Agreement’s Impact on the Export of Halal Food to OIC Countries Matter? Evidence from Indonesia. Etikonomi, 23(1), 147 – 166. https://doi.org/10.15408/etk.v23i1.32951.
研究独创性：伊斯兰会议组织是仅次于联合国的第二大组织，其人口占全球人口的 24.4%，这使得伊斯兰会议组织国家成为一个潜在的市场。本文通过关注贸易协定对清真食品行业影响的关键方面，对现有关于这些国家内部贸易的文献做出了贡献：本研究探讨了自由贸易协定（FTA）对印尼清真食品出口的影响：本文使用 23 个国家从 2003 年到 2019 年的面板数据，采用引力模型评估自由贸易协定和其他变量对印尼清真食品出口到伊斯兰会议组织国家的影响：研究结果表明，与未签订自贸协定的国家相比，印尼对伊斯兰会议组织国家的食品出口增长了 68%。研究显示，国内生产总值、人口规模、贸易开放度和汇率对向伊斯兰会议组织国家的食品出口有积极影响。然而，贸易伙伴的距离和进入时间则呈现负相关：本研究对印尼政府具有重要意义，因为它为印尼政府考虑加快批准与伊斯兰会议组织国家的贸易协定提供了有价值的见解。JEL 分类：F13，F47，C68How to Cite：Muchtar，M.，Hafid，A.，Rodoni，A.，Amalia，E.，& Hosen，M. N. (2024)。自由贸易协定对向伊斯兰会议组织国家出口清真食品的影响重要吗？来自印度尼西亚的证据。Etikonomi, 23(1), 147 - 166. https://doi.org/10.15408/etk.v23i1.32951.
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Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.32005
T. Goh, Henry Henry, Erika Erika
Research originality: This research adds the exchange rate variable and the use of the Vector Autoregressive (VAR) model that can add to the financial literature.Research Objectives: This study examines how macroeconomics can impact a business during a crisis. The stock market has associated access with new COVID-19 cases and new deaths in Indonesia. During the pandemic, the exchange rate is critical, so this study observes the exchange rate of IDR against USD. This paper investigates the relationship between new cases, new deaths, and the exchange rate with the stock market index.Research Methods: The study retrieves the daily data from March 2, 2020, to June 30, 2022, from Our World in Data, Indonesia's stock exchange, and Indonesia's Statistic Central Bureau. We have used the ADF, Vector Autoregressive (VAR) Model, impulse response function, and the Toda Yamamoto causality test. Empirical Results: The findings reveal a significant negative impact of new COVID-19 cases, new deaths, and exchange rates on the stock market. Toda Yamamoto's causality analysis reveals substantial evidence of unidirectional daily growth of new COVID-19 deaths in the stock market and a bidirectional causality of new COVID-19 cases and new COVID-19 deaths.Implications: The policy implications of this study are to stabilize markets, impact overall financial stability, support entrepreneurship, and develop a competitive market environment that can encourage innovation. JEL Classification: C5, E31, F31How to Cite:Goh, T. S., Henry, H., & Erika, E. (2024). Factors Impact of the Stock Market Performance During the Covid-19 Crisis. Etikonomi, 23(1), 47 – 62. https://doi.org/10.15408/etk.v23i1.32005
研究的独创性：本研究增加了汇率变量，并使用了向量自回归（VAR）模型，可为金融文献增添新的内容：本研究探讨了危机期间宏观经济如何影响企业。在印度尼西亚，股票市场与 COVID-19 新病例和新死亡病例相关联。在大流行病期间，汇率至关重要，因此本研究观察了印尼盾兑美元的汇率。本文探讨了新病例、新死亡病例和汇率与股市指数之间的关系：本研究从 Our World in Data、印尼证券交易所和印尼中央统计局获取了 2020 年 3 月 2 日至 2022 年 6 月 30 日的每日数据。我们使用了 ADF、向量自回归（VAR）模型、脉冲响应函数和 Toda Yamamoto 因果关系检验。实证结果：研究结果表明，新增 COVID-19 病例、新增死亡人数和汇率对股市有明显的负面影响。Toda Yamamoto 的因果关系分析揭示了大量证据，表明股市中 COVID-19 新死亡病例的单向日增长以及 COVID-19 新病例和 COVID-19 新死亡病例的双向因果关系：本研究的政策意义在于稳定市场、影响整体金融稳定、支持创业以及营造一个能够鼓励创新的竞争性市场环境。JEL 分类：C5、E31、F31How to Cite:Goh, T. S., Henry, H., & Erika, E. (2024).科维德-19 危机期间股市表现的影响因素。Etikonomi, 23(1), 47 - 62. https://doi.org/10.15408/etk.v23i1.32005
{"title":"Factors Impact of the Stock Market Performance During the Covid-19 Crisis","authors":"T. Goh, Henry Henry, Erika Erika","doi":"10.15408/etk.v23i1.32005","DOIUrl":"https://doi.org/10.15408/etk.v23i1.32005","url":null,"abstract":"Research originality: This research adds the exchange rate variable and the use of the Vector Autoregressive (VAR) model that can add to the financial literature.Research Objectives: This study examines how macroeconomics can impact a business during a crisis. The stock market has associated access with new COVID-19 cases and new deaths in Indonesia. During the pandemic, the exchange rate is critical, so this study observes the exchange rate of IDR against USD. This paper investigates the relationship between new cases, new deaths, and the exchange rate with the stock market index.Research Methods: The study retrieves the daily data from March 2, 2020, to June 30, 2022, from Our World in Data, Indonesia's stock exchange, and Indonesia's Statistic Central Bureau. We have used the ADF, Vector Autoregressive (VAR) Model, impulse response function, and the Toda Yamamoto causality test. Empirical Results: The findings reveal a significant negative impact of new COVID-19 cases, new deaths, and exchange rates on the stock market. Toda Yamamoto's causality analysis reveals substantial evidence of unidirectional daily growth of new COVID-19 deaths in the stock market and a bidirectional causality of new COVID-19 cases and new COVID-19 deaths.Implications: The policy implications of this study are to stabilize markets, impact overall financial stability, support entrepreneurship, and develop a competitive market environment that can encourage innovation. JEL Classification: C5, E31, F31How to Cite:Goh, T. S., Henry, H., & Erika, E. (2024). Factors Impact of the Stock Market Performance During the Covid-19 Crisis. Etikonomi, 23(1), 47 – 62. https://doi.org/10.15408/etk.v23i1.32005","PeriodicalId":41552,"journal":{"name":"Etikonomi","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140715820","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.26921
L. Vem, Joy P. Mshelmbula, Abel Ochigbo, Ruth Agwom-Panle
Originality: The competition in the banking industry has necessitated a concerted effort to ensure a sustainable internal and external customer relationship. Studies that focus on the internal customer relationship and internal customers’ word of mouth on external customer loyalty is rareObjective: This study investigates how Employees' Positive Word of mouth (PWoM) mediates the relationship between internal customer relationship management (IntCRM) and external Customer Loyalty (CL) using social exchange and image theoryMethodology: A cross-sectional research design was used, and a sample of 384 customers was drawn from an unknown pool of customers to respond to the CL questionnaire, while 315 bank employees responded to the IntCRM and PWoM Questionnaires. A partial least approach to structural equation modelling technique, via SMART-PLS version 4. was deployed to analyze the hypothesized relationships.Results: Findings on the direct relationship between IntCRM and CL were not supported due to insufficient evidence. While indirect relationships were established through the mechanism role of PWoM, supporting our argument that social exchange between employer and employee stimulates a positive attitude that attracts external customersImplications: The findings suggest the importance of relating discretely with the internal customer, since their perceptions and behaviours can influence the external customers’ attitudes towards the organization. The study also integrates the boundary of Human Resource Management (HRM) practice with Marketing strategy in ensuring customer loyalty in the banking industry. JEL Classification: M5, M31How to Cite:Vem, L. J., Mshembula, J. P., Ochigbo, A. D., Agwom-Panle, R., (2024). How Internal Customer Relationship Management and Word of Mouth Affect Customer Loyalty. Etikonomi, 23(1), 81 – 92. https://doi.org/10.15408/etk.v23i1.26921.
独创性：银行业的竞争促使人们必须齐心协力确保可持续的内部和外部客户关系。关注内部客户关系和内部客户口碑对外部客户忠诚度的研究并不多见：本研究采用社会交换和形象理论，探讨员工的积极口碑（PWoM）如何调节内部客户关系管理（IntCRM）与外部客户忠诚度（CL）之间的关系：采用横断面研究设计，从未知客户群中抽取 384 名客户回答客户忠诚度问卷，同时抽取 315 名银行员工回答内部客户关系管理问卷和口碑问卷。通过 SMART-PLS 第 4 版，采用部分最小法结构方程建模技术来分析假设的关系：结果：由于证据不足，IntCRM 和 CL 之间的直接关系未得到支持。而通过 PWoM 的机制作用建立的间接关系，支持了我们的论点，即雇主和雇员之间的社会交流激发了吸引外部客户的积极态度：研究结果表明，与内部客户建立非直接关系非常重要，因为他们的看法和行为会影响外部客户对组织的态度。这项研究还整合了人力资源管理实践与市场营销战略的边界，以确保银行业的客户忠诚度。JEL 分类：M5、M31如何引用：Vem, L. J., Mshembula, J. P., Ochigbo, A. D., Agwom-Panle, R., (2024).内部客户关系管理和口碑如何影响客户忠诚度》。Etikonomi, 23(1), 81 - 92. https://doi.org/10.15408/etk.v23i1.26921.
{"title":"How Internal Customer Relationship Management and Word of Mouth, Affect Customer Loyalty","authors":"L. Vem, Joy P. Mshelmbula, Abel Ochigbo, Ruth Agwom-Panle","doi":"10.15408/etk.v23i1.26921","DOIUrl":"https://doi.org/10.15408/etk.v23i1.26921","url":null,"abstract":"Originality: The competition in the banking industry has necessitated a concerted effort to ensure a sustainable internal and external customer relationship. Studies that focus on the internal customer relationship and internal customers’ word of mouth on external customer loyalty is rareObjective: This study investigates how Employees' Positive Word of mouth (PWoM) mediates the relationship between internal customer relationship management (IntCRM) and external Customer Loyalty (CL) using social exchange and image theoryMethodology: A cross-sectional research design was used, and a sample of 384 customers was drawn from an unknown pool of customers to respond to the CL questionnaire, while 315 bank employees responded to the IntCRM and PWoM Questionnaires. A partial least approach to structural equation modelling technique, via SMART-PLS version 4. was deployed to analyze the hypothesized relationships.Results: Findings on the direct relationship between IntCRM and CL were not supported due to insufficient evidence. While indirect relationships were established through the mechanism role of PWoM, supporting our argument that social exchange between employer and employee stimulates a positive attitude that attracts external customersImplications: The findings suggest the importance of relating discretely with the internal customer, since their perceptions and behaviours can influence the external customers’ attitudes towards the organization. The study also integrates the boundary of Human Resource Management (HRM) practice with Marketing strategy in ensuring customer loyalty in the banking industry. JEL Classification: M5, M31How to Cite:Vem, L. J., Mshembula, J. P., Ochigbo, A. D., Agwom-Panle, R., (2024). How Internal Customer Relationship Management and Word of Mouth Affect Customer Loyalty. Etikonomi, 23(1), 81 – 92. https://doi.org/10.15408/etk.v23i1.26921. ","PeriodicalId":41552,"journal":{"name":"Etikonomi","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140715055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.34681
Jamhul Haer, Evi Gravitiani, T. R. Putro
Research Originality: Migrant workers should have improved their skills and be more adaptive to applying digital technology. This research contribution focuses on ex-migrant workers with current careers as business owners.Research Objectives: This research reviewed the determinant factor of technological adoption on entrepreneurs with the experience of ex-migrants based on some factors, such as migrant, demographic, and business.Research Methods: The applied method of this study is - logit regression analysis. This study examined 329 business owners of 1.518 workers as surveyed by the National Workforce Survey, SAKERNAS, in Mataram, in the period 2022.Empirical Results: The research result was the lower digital technology adoption of ex-migrant business owners than the non-ex-migrant workers. The causal factor was the poor educational level of ex-migrant workers in Indonesia.Implications: The empirical implication of this study is - to determine the empowerment program of ex-migrant workers regarding the digital technology utility within the scope of entrepreneurship activities and technological transfer through the ex-migrant workers of Indonesia. JEL Classification: J6, M2, O3How to Cite:Haer, J., Gravitiani, E., & Putro, T. R. (2024). Digital Technology Adoption in Entrepreneurs: Are Ex-Migrant Workers More Adaptive?. Etikonomi, 23(1), 1 – 10. https://doi.org/10.15408/etk.v23i1.34681.
{"title":"Digital Technology Adoption in Entrepreneurs: Are Ex-Migrant Workers More Adaptive?","authors":"Jamhul Haer, Evi Gravitiani, T. R. Putro","doi":"10.15408/etk.v23i1.34681","DOIUrl":"https://doi.org/10.15408/etk.v23i1.34681","url":null,"abstract":"Research Originality: Migrant workers should have improved their skills and be more adaptive to applying digital technology. This research contribution focuses on ex-migrant workers with current careers as business owners.Research Objectives: This research reviewed the determinant factor of technological adoption on entrepreneurs with the experience of ex-migrants based on some factors, such as migrant, demographic, and business.Research Methods: The applied method of this study is - logit regression analysis. This study examined 329 business owners of 1.518 workers as surveyed by the National Workforce Survey, SAKERNAS, in Mataram, in the period 2022.Empirical Results: The research result was the lower digital technology adoption of ex-migrant business owners than the non-ex-migrant workers. The causal factor was the poor educational level of ex-migrant workers in Indonesia.Implications: The empirical implication of this study is - to determine the empowerment program of ex-migrant workers regarding the digital technology utility within the scope of entrepreneurship activities and technological transfer through the ex-migrant workers of Indonesia. JEL Classification: J6, M2, O3How to Cite:Haer, J., Gravitiani, E., & Putro, T. R. (2024). Digital Technology Adoption in Entrepreneurs: Are Ex-Migrant Workers More Adaptive?. Etikonomi, 23(1), 1 – 10. https://doi.org/10.15408/etk.v23i1.34681.","PeriodicalId":41552,"journal":{"name":"Etikonomi","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140715385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.36131
Ender Baykut, Halilibrahim Gökgöz
Research Originality: To the best of our knowledge, this is the first study which measures the impact of the MOVE index on bond yield volatility by comparing its effect on both short-term and long-term. The paper contributes to the existing literature by providing a better understanding of the relationship between maturity and volatility spillover. Research Objectives: This study examines the dynamic volatility connectedness between 2 and 10-year bond yields and the MOVE Index. Furthermore, it is aimed at detecting the transmitter of volatility among variables. Research Methods: Using a data set from 2010 to 2022, the study utilizes a Time-Varying Parameter Vector Autoregression (TVP-VAR) model to analyse the dynamics and relationship between bond yields and the MOVE Index. Empirical Results: The study finds a significant volatility spillover between the MOVE Index and Türkiye's bond yields. Notably, the linkage between the MOVE Index and the 10-year bond rates is stronger than with the 2-year rates. Additionally, the MOVE Index emerges as the primary transmitter of volatility, impacting both bond yields. Implications: This study sheds light on the complexity and dynamics of volatility spread in Türkiye's bond market, providing essential insights for forecasting bond yields and shaping financial policies.JEL Classification: G17, C22, G12How to Cite:Baykut, E., Gökgöz, H. (2024). Volatility Connectedness of MOVE Index and Bond Returns. Etikonomi, 23(1), 27 – 46. https://doi.org/10.15408/etk.v23i1.36131.
{"title":"Volatility Connectedness of MOVE Index and Bond Returns","authors":"Ender Baykut, Halilibrahim Gökgöz","doi":"10.15408/etk.v23i1.36131","DOIUrl":"https://doi.org/10.15408/etk.v23i1.36131","url":null,"abstract":"Research Originality: To the best of our knowledge, this is the first study which measures the impact of the MOVE index on bond yield volatility by comparing its effect on both short-term and long-term. The paper contributes to the existing literature by providing a better understanding of the relationship between maturity and volatility spillover. Research Objectives: This study examines the dynamic volatility connectedness between 2 and 10-year bond yields and the MOVE Index. Furthermore, it is aimed at detecting the transmitter of volatility among variables. Research Methods: Using a data set from 2010 to 2022, the study utilizes a Time-Varying Parameter Vector Autoregression (TVP-VAR) model to analyse the dynamics and relationship between bond yields and the MOVE Index. Empirical Results: The study finds a significant volatility spillover between the MOVE Index and Türkiye's bond yields. Notably, the linkage between the MOVE Index and the 10-year bond rates is stronger than with the 2-year rates. Additionally, the MOVE Index emerges as the primary transmitter of volatility, impacting both bond yields. Implications: This study sheds light on the complexity and dynamics of volatility spread in Türkiye's bond market, providing essential insights for forecasting bond yields and shaping financial policies.JEL Classification: G17, C22, G12How to Cite:Baykut, E., Gökgöz, H. (2024). Volatility Connectedness of MOVE Index and Bond Returns. Etikonomi, 23(1), 27 – 46. https://doi.org/10.15408/etk.v23i1.36131.","PeriodicalId":41552,"journal":{"name":"Etikonomi","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140715181","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.31769
Imam Subchi, A. Jahar, R. Prasetyowati
Research Originality: One of the Islamic Microfinance Institutions (IMFI) was Baitul mal wa Tanwil (BMT) which generally has a program using the group loan methodology which is seen as utilizing existing social capital, manifested in personal relationships and networks.Research Objectives: This study aims to examine the impact of social capital factors on BMT business as an IMFI covering cultural values, religious traditions, people's world views, geographical characteristics, work ethic, institutions, and social networks.Research Methods: This study uses a mixed method explanatory with a qualitative method for testing the level of importance using the Analytic Process Hierarchy (AHP) f or the best priority in social capital factors and the ideal IMFI based on expert opinions as facilitators.Empirical Result: This result shows that the seven social capital factors at IMFI can be applied and considered applicable in developing business. The main priority factors are institutions and religious traditions. The IMFI that consistently applies social capital factors in developing IMFI business is BMT Bringhardjo (Yogyakarta) although it has not yet reached the maximum value. The determinants of social capital in the IMFIs business are considerably used to determine the IMFIs business development. It provides that the seven social capital factors at IMFI can be applied and considered applicable in developing business.Implications: The main priority factors are institutions and religious traditions. Investigating one of the IMFI was Baitul mal wa Tanwil that consistently applies social capital factors in developing IMFI business as a business that empowers social capital as a guarantee feasibility and business feasibility from micro communities that have so far been un-bankable. JEL Classification: D02, D04, O14How to Cite:Subchi, I., Jahar, A. S., & Prasetyowati, R. A.. (2024). Is Social Capital Determinant in Developing Islamic Microfinance Institutions. Etikonomi, 23(1), 233 – 248. https://doi.org/10.15408/etk.v23i1.31769.
研究独创性：Baitul mal wa Tanwil (BMT)是伊斯兰小额信贷机构（IMFI）之一，该机构通常采用集体贷款方法开展项目，这被视为利用了现有的社会资本，体现在人际关系和网络中：本研究旨在探讨社会资本因素对 BMT 作为 IMFI 的业务的影响，这些因素包括文化价值观、宗教传统、人们的世界观、地理特征、职业道德、制度和社会网络：研究方法：本研究采用定性与解释相结合的混合方法，使用层次分析法（AHP）测试社会资本因素的重要程度，以及基于专家意见作为促进因素的理想 IMFI：这一结果表明，综合管理学院的七个社会资本因素可以应用于企业发展，并被认为适用于企业发展。主要的优先因素是制度和宗教传统。在发展 IMFI 业务时始终应用社会资本因素的 IMFI 是 BMT Bringhardjo（日惹），尽管它尚未达到最大值。社会资本在 IMFI 业务中的决定因素在很大程度上被用来决定 IMFI 的业务发展。它规定，IMFI 的七个社会资本因素可以应用于并被认为适用于发展业务：主要的优先因素是制度和宗教传统。Baitul mal wa Tanwil 是其中一家 IMFI，它在发展 IMFI 业务时始终应用社会资本因素，将社会资本作为迄今为止无法获得银行贷款的微型社区的可行性和业务可行性的保障。JEL 分类：D02, D04, O14如何引用：Subchi, I., Jahar, A. S., & Prasetyowati, R. A.. (2024).伊斯兰小额信贷机构发展中的社会资本决定因素。Etikonomi, 23(1), 233 - 248. https://doi.org/10.15408/etk.v23i1.31769.
{"title":"Is Social Capital Determinant in Developing Islamic Microfinance Institutions?","authors":"Imam Subchi, A. Jahar, R. Prasetyowati","doi":"10.15408/etk.v23i1.31769","DOIUrl":"https://doi.org/10.15408/etk.v23i1.31769","url":null,"abstract":"Research Originality: One of the Islamic Microfinance Institutions (IMFI) was Baitul mal wa Tanwil (BMT) which generally has a program using the group loan methodology which is seen as utilizing existing social capital, manifested in personal relationships and networks.Research Objectives: This study aims to examine the impact of social capital factors on BMT business as an IMFI covering cultural values, religious traditions, people's world views, geographical characteristics, work ethic, institutions, and social networks.Research Methods: This study uses a mixed method explanatory with a qualitative method for testing the level of importance using the Analytic Process Hierarchy (AHP) f or the best priority in social capital factors and the ideal IMFI based on expert opinions as facilitators.Empirical Result: This result shows that the seven social capital factors at IMFI can be applied and considered applicable in developing business. The main priority factors are institutions and religious traditions. The IMFI that consistently applies social capital factors in developing IMFI business is BMT Bringhardjo (Yogyakarta) although it has not yet reached the maximum value. The determinants of social capital in the IMFIs business are considerably used to determine the IMFIs business development. It provides that the seven social capital factors at IMFI can be applied and considered applicable in developing business.Implications: The main priority factors are institutions and religious traditions. Investigating one of the IMFI was Baitul mal wa Tanwil that consistently applies social capital factors in developing IMFI business as a business that empowers social capital as a guarantee feasibility and business feasibility from micro communities that have so far been un-bankable. JEL Classification: D02, D04, O14How to Cite:Subchi, I., Jahar, A. S., & Prasetyowati, R. A.. (2024). Is Social Capital Determinant in Developing Islamic Microfinance Institutions. Etikonomi, 23(1), 233 – 248. https://doi.org/10.15408/etk.v23i1.31769.","PeriodicalId":41552,"journal":{"name":"Etikonomi","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2024-04-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140713813","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-11DOI: 10.15408/etk.v23i1.35082
A. Abimanyu, Abdullah At Tamimi
Research Originality: This research provides fresh perspectives on the future landscape of Islamic banking, particularly concerning the Islamic window. The paper stands out for its originality as it undertakes an empirical study utilizing a mixed method. This study is also expected to answer the research gap between literature studies, empirical studies, and implemented policies. Additionally, it is driven by the objective of contributing to the existing literature on Islamic finance.Research Objectives: This study dives into whether converting Islamic Business Units (UUS) into full-fledged Islamic Banks (BUS) leads to performance enhancement.Research Methods: There are two types of data analysis methods, namely qualitative and quantitative. The qualitative analysis method comes from a collection of literature reviews and institutional opinions from Islamic banking experts in the world. This study employs a multi-pronged quantitative approach to investigate the performance and consumer perception of Islamic banking services with an emphasis on UUS and BUS.Empirical Result: The results indicate that UUS and BUS structures adhere to Sharia principles and achieve commendable performance. However, analysis of financial reports across many countries, including Indonesia, shows that UUS's financial performance is generally better than BUS. The research further emphasizes that internal factors like capital adequacy, asset quality, and management capabilities, rather than the institutional structure itself, hold greater sway in driving performance improvement. Forced conversion of UUS could even hinder overall progress. Implications: Beyond financial considerations, the study explores consumer behavior through surveys with educated individuals. The results indicate that their choice between BUS and UUS products is guided by practical factors such as financial returns, costs, and service reliability offered by each structure. JEL Classification: G21, G28 How to Cite:Abimanyu, A., & At Tamimi, R. A. (2024). Should Islamic Window be Converted into a Full-Fledge Islamic Bank? A Case Study in Indonesia. Etikonomi, 23(1), 183 – 200. https://doi.org/10.15408/etk.v23i1.35082.
研究的独创性：本研究为伊斯兰银行业的未来前景，特别是有关伊斯兰窗口的前景提供了新的视角。本文采用混合方法进行实证研究，因此具有独创性。本研究还有望填补文献研究、实证研究和已实施政策之间的研究空白。此外，本研究的目的还在于为现有的伊斯兰金融文献做出贡献：本研究将深入探讨将伊斯兰业务单位（UUS）转变为成熟的伊斯兰银行（BUS）是否会带来绩效提升：数据分析方法有两种，即定性分析和定量分析。定性分析方法来自文献综述和全球伊斯兰银行专家的机构意见。本研究采用多管齐下的定量方法来调查伊斯兰银行服务的绩效和消费者感知，重点是 UUS 和 BUS：结果表明，UUS 和 BUS 结构符合伊斯兰教法原则，并取得了值得称道的业绩。然而，对包括印度尼西亚在内的许多国家的财务报告进行的分析表明，UUS 的财务业绩普遍优于 BUS。研究进一步强调，资本充足率、资产质量和管理能力等内部因素，而不是机构结构本身，在推动业绩改善方面具有更大的影响力。强行转换 UUS 甚至会阻碍整体进步。影响：除了财务方面的考虑，本研究还通过对受过教育的个人进行调查，探讨了消费者行为。结果表明，他们在 BUS 和 UUS 产品之间的选择是以实际因素为导向的，如每种结构提供的财务回报、成本和服务可靠性。JEL 分类：G21, G28 如何引用：Abimanyu, A., & At Tamimi, R. A. (2024).伊斯兰窗口是否应转变为真正的伊斯兰银行？印度尼西亚案例研究。Etikonomi, 23(1), 183 - 200. https://doi.org/10.15408/etk.v23i1.35082.
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