Jurnal Ekonomi Teknologi dan Bisnis (JETBIS)
Jurnal Ekonomi, Teknologi dan Bisnis is a double blind peer-reviewed academic journal and open access to social and scientific fields. The journal is published monthly by Al-Makki Publisher. Jurnal Ekonomi, Teknologi dan Bisnis provides a means for sustained discussion of relevant issues that fall within the focus and scopes of the journal which can be examined empirically. The journal publishes research articles covering all aspects of Economic, Technology and Business, ranging from Economics, Management, Accounting, entrepreneurship, Business, MSME, Agriculture and Technology that belong to the Economic, Technology and Business context. Name: Jurnal Ekonomi, Teknologi dan Bisnis E-ISSN : 2962-9330 P-ISSN : 2964-903X DOI : Crossref Period : Monthly Indexing and Abstracting : Dimension, Google Scholar, Garuda, Copernicus Hijau, BASE, Crossref, EBSCO Publication Guidelines : COPE Guidelines Publisher : Al-Makki Publisher Society/ Institution: Cairo University, Mesir
Analysis of the Influence of Production, Global Prices, Exchange Rate, and Interest Rate on Changes in Indonesia’s Crude Palm oil (CPO) Export Value
Exports play a pivotal role in Indonesia’s economic growth, with crude palm oil (CPO) being a key contributor to international trade. A decline in CPO export value could potentially weaken economic performance. This study investigates the influence of production, global prices, exchange rates, and interest rates on Indonesia’s CPO export value using the Error Correction Model (ECM) for the 1995–2024 period. The findings indicate that production has a significant positive impact on export value in both the short run and the long run. Global prices and exchange rates also exert significant effects across both horizons, while domestic interest rates show an indirect influence. Overall, the study confirms that Indonesia’s CPO export dynamics are shaped by a combination of production factors and macroeconomic variables, with distinct patterns of relationship between short-run and long-run contexts.
Copyright (c) 2026 Rasendriya Rahya Rabbani, Raden Parianom
Technology Acceptance Model and Customer Experience in Enhancing Customer Satisfaction and Loyalty in Multichannel Marketing
Changes in consumer behavior in shopping, increasingly driven by digital technology, have impacted many retail businesses, including Omah Sayur, which developed multichannel marketing through both physical and online stores. Despite having six offline store branches and an online presence via social media and shopping apps, Omah Sayur faces challenges such as higher prices compared to competitors, inadequate service, and a manual cashier system. This study aims to analyze the effect of technology acceptance on customer experience, satisfaction, and loyalty; as well as formulate an effective multichannel marketing strategy. Using a quantitative approach and descriptive statistics, the study involved 60 female respondents with experience in both offline and online shopping. The results show that technology acceptance positively influences experience, satisfaction, and loyalty, although it does not significantly affect customer loyalty due to limited features in online shopping. Customer experience positively impacts satisfaction and loyalty, and influences loyalty through consumer satisfaction. Positive sensory, emotional, and social experiences enhance satisfaction and loyalty, which in turn encourages repurchase and word of mouth. A multichannel marketing strategy that prioritizes good customer experience is key to increasing customer loyalty at Omah Sayur.
Copyright (c) 2025 Septiadinur Rejeki, Budi Setiawan, Riyanti Isaskar
Integration of BERTopic and IndoBERTweet for Aspect-Based Sentiment Analysis (ABSA) on Short Text Data: A Case Study of Responses to Government Policies in 2025
The implementation of various government policies in 2025 has triggered massive public opinion on social media platform X; however, traditional sentiment analysis often fails to provide details on specific topics, necessitating an Aspect-Based Sentiment Analysis (ABSA) approach. This research integrates the BERTopic model for aspect extraction and IndoBERTweet for sentiment classification to address the challenges associated with the characteristics of short and unstructured text. By preserving the data without a stemming process to maintain semantic context integrity, the BERTopic model demonstrates optimal performance with a Coherence score (C_v) of 0.7539 and a Topic Diversity of 0.9285. The synergy between BERTopic and IndoBERTweet proves effective in generating coherent topic representations and accurate sentiment classification for informal language on social media. Consequently, this integration provides a more profound and superior solution for mapping public responses to the dynamics of government policy.
Copyright (c) 2026 Nabiel Putra Adam, Rahmat Gernowo, Bayu Surarso
The Concept of Calculating Air Transportation Tariffs for Fuel Using the Fuel Aircraft Transportation Tariff Formula for Fuel Distribution to 3T Regions (Underdeveloped, Frontier, and Outermost Areas)
The one-price BBM (Fuel Oil) policy in the Papua region, launched by the Government of Indonesia, represents an effort to realize social justice for all Indonesian people. The government has tasked PT Pertamina with immediately implementing one-price fuel in the Papua region and 3T (Daerah Tertinggal, Terdepan, dan Terluar; Disadvantaged, Frontier, and Outermost) regions. This policy is expected to foster economic growth and development in Papua. However, distributing fuel to remote areas in Papua faces enormous challenges due to limited infrastructure, difficult geographical conditions, extreme weather, and security risks. Air transportation is the only effective mode for fuel distribution to these regions, though it incurs high logistics costs and significant operational complexity. In this study, The Concept of Calculating Air Transportation Tariffs for Fuel Using the Fuel Aircraft Transportation Tariff Formula for Fuel Distribution to 3T Regions (Underdeveloped, Frontier, and Outermost Areas) was developed by integrating a cost-based analysis approach with the Cash-Related Aircraft Operating Cost (CAROC) model, relevant laws and regulations, government policies, Pertamina and Oil and Gas guidelines, and field best practices. This Tariff Formula enables transparent tariff calculations based on key cost components, including aircraft leasing, fuel, maintenance, handling, insurance, and labor. The results provide an objective basis for establishing air transportation tariffs for fuel in areas with limited infrastructure and extreme operational conditions, such as Papua
Copyright (c) 2026 Lutfi Bahroni, Alvian Pratama, Very Aryanto, Ahmad Ubaidillah Maksum, Rachman Agung Siswanto
Human Resource Practices and Innovation Capability through Employee Engagement and Organizational Learning
This comprehensive study examines the complex relationship between human resource practices and innovation capability, with employee engagement and organizational learning as critical mediating variables. Conducted in the Indonesian business context with 385 respondents from manufacturing and service companies, this research uses Structural Equation Modeling (SEM) to analyze how HR investments translate into innovation outcomes. Results show HR practices significantly enhance innovation capability through direct effects (?=0.382, p<0.001), indirect effects via employee engagement (?=0.209, 95% CI [0.156, 0.268]), and organizational learning (?=0.173, 95% CI [0.125, 0.227]). The model explains 68.4% variance in innovation capability (R²=0.684). Findings extend Resource-Based View, Social Exchange Theory, and Organizational Learning Theory while providing practical guidance for optimizing HR strategies.
Human Resource Practices, Innovation Capability, Employee Engagement, Organizational Learning, SEM, Mediation Analysis
Copyright (c) 2026 Agus Rohmat Hidayat, Agis Ahmad Rodiansjah
Strategic Human Resource Management and Organizational Performance in Emerging Markets
This study examines the relationship between strategic human resource management (SHRM) practices and organizational performance in emerging markets. Drawing on data from 450 organizations across Indonesia, Malaysia, Thailand, Vietnam, and the Philippines, we investigate how SHRM practices influence organizational outcomes through mediating mechanisms of innovation capabilities and organizational resilience. Using structural equation modeling (SEM), our findings reveal that SHRM practices significantly predict organizational performance (? = 0.68, p < 0.001), with innovation capabilities and resilience serving as key mediators. The study contributes to the SHRM literature by demonstrating that context-specific implementation of HR practices in emerging markets requires adaptation to local institutional environments, cultural norms, and workforce characteristics. Practical implications suggest that organizations operating in emerging markets should prioritize developing agile HR systems that balance global best practices with local responsiveness
Strategic Human Resource Management, Organizational Performance, Emerging Markets, Innovation Capabilities, Organizational Resilience
Design and Application of the Production Information System at PT Datang DSSP Power Indonesia
This study investigates the design, implementation, and evaluation of a real-time Production Information System (PIS) developed for PT Datang DSSP Power Indonesia, a joint-venture corporation operating three coal-fired power plants. Increasing operational complexity in thermal power generation demands integrated monitoring solutions that enhance production efficiency, strengthen safety management, and improve decision-making processes. This research aims to develop and assess a PIS capable of delivering real-time production data while supporting centralized supervision through a set of interconnected technological modules. The study employs a system design approach based on operational requirements, phased technological implementation, and functional performance evaluation. The proposed PIS integrates four core components: a site-wide Closed-Circuit Television (CCTV) system, real-time production data acquisition and upload, a video conferencing platform, and secure broadband connectivity enabling reliable data transmission to the corporate headquarters. The implementation of the PIS demonstrates substantial improvements in production efficiency, safety monitoring, and resource allocation. The system enhances cross-site visibility, supports faster situational assessment, and accelerates strategic decision-making within the organization. Overall, the findings provide a valuable reference for developing integrated monitoring and information systems in the thermal power generation industry and highlight the broader applicability of such systems to other technology-driven energy sectors.
Generation Z's Perceptions of the Practicality and Convenience of Online Shopping
This study aims to analyze Generation Z's perceptions of the practicality and convenience of online shopping through various e-commerce platforms such as Shopee and TikTok Shop. Generation Z is known as a generation of digital natives who are familiar with technology and have a high tendency to shop online because it is considered faster, easier, and more efficient than conventional shopping. The research method used was descriptive qualitative with five respondents selected by purposive sampling. Data were collected through an open questionnaire containing ten questions about experiences, views, and motivations for online shopping. The results showed that practicality, time efficiency, and promotions were the dominant factors that increased the convenience of shopping. The respondents considered that online shopping facilitated their daily activities because it could be done anytime without having to leave the house. Trust factors, such as transaction security and product review reliability, also played an important role in shaping positive perceptions of online shopping. In addition, the availability of promotions, discounts, and free shipping had a significant influence on purchasing decisions. This study concludes that the combination of ease of access, economic value, and security are the main factors that shape Generation Z's perception of the convenience and practicality of online shopping in the digital age.
Generation Z, Online Shopping, Perception, Practicality, Convenience
Copyright (c) 2025 Budiana Budiana, Fitri Faujiah, Aldiansyah Aldiansyah
Effectivenessof Micro-Influencer Collaboration on Engagement and Brand Awareness: A Case Study of the Instagram Account of LSPDitekindo (@ditekindo)
Professional Certification Institutions (LSP) require effective digital communication strategies to reach their target audiences in the digital age. LSP Ditekindo's Instagram performance is not yet optimal, with low engagement rates and limited awareness conversion, thus requiring the right influencer collaboration strategy. This study aims to identify and describe the collaboration strategy between LSP Ditekindo and influencers in improving Instagram account performance, as well as evaluate the effectiveness of collaborative content in building engagement and brand awareness. The study uses a mixed-method approach, collecting quantitative data from Instagram Insights and qualitative data through interviews. The analysis was conducted using a descriptive comparative method, calculating the engagement rate using the formula (Total Interactions/Total Reach & Impressions) × 100%. The collaboration with influencer Lukman Acep Nul Hakim resulted in significant improvements: followers increased by 190 (0.81%), likes surged by 5,050%, Reach & Impressions rose by 277%, and the total engagement rate increased from 0.02% to 4.78%. LSP Ditekindo achieved an “Excellent” status across three industry benchmarking indicators in the B2B sector. The results validate the Trust Transfer Theory, Social Proof Theory, and Uses and Gratifications Theory, with key success factors including the accuracy of influencer selection, the authenticity of message delivery, and strategic timing.
Copyright (c) 2025 Aurelia Widya Astuti, Satrio Rafli Firmansah, Mamduh Rihadatul Aisy, Rega Slamet Riyadi
Analysis of Determinant Factors of Operational Efficiency of Mass Transportation Modes and Their Implications for Social Welfare (Case Study of Urban Transport Networks)
The operational efficiency of mass transportation is a critical factor in urban mobility, with significant implications for social welfare. However, many cities in developing countries face challenges in achieving optimal efficiency, impacting service quality and community accessibility. This study aims to analyze the determinant factors of operational efficiency in urban mass transportation modes and examine their implications for social welfare in the context of Indonesian cities. Employing a quantitative approach, this research utilized Data Envelopment Analysis (DEA) and multiple regression methods to evaluate 15 urban transportation corridors across Jakarta, Surabaya, and Bandung during the 2022-2024 period. Data were collected through direct observation, surveys of 1,200 passengers, and in-depth interviews with operators and regulators. The analysis revealed that service frequency, load factor ratio, and fleet quality are the dominant factors affecting operational efficiency, collectively contributing 68.4% to efficiency variations. Operational efficiency demonstrated a strong positive correlation with accessibility for low-income populations (r=0.742) and contributed to reducing household transportation costs by up to 23.6%. Furthermore, efficient corridors showed significantly lower carbon emissions (0.68 kg CO? per passenger-km) compared to inefficient corridors. The findings underscore the crucial relationship between transportation operational efficiency and social welfare outcomes. To maximize both efficiency and social benefits, policymakers should prioritize fleet modernization, optimize operational schedules, and enhance system integration through coordinated tariff structures and infrastructure development.
Indonesian Islamic Banking and Finance: Responding to Digital Disruption Through Maqosid Integration and Product Innovation
Indonesian Islamic banking and finance face major challenges amid digital disruption driven by fintech, blockchain, open banking, and crypto assets. These rapid developments create opportunities for financial inclusion and product innovation but also introduce risks of sharianon-compliance, weak regulation, and declining public trust. This study explores Islamic banking strategies in responding to these challenges through the integration of maqosid al syari'ah product innovation, while recommending therenewal of OJK regulations and DSN-MUI fatwas. Using a qualitative approach with SWOT analysis on academic literature, regulatory reports, and shariafatwas, this research identifies that the main strength of Islamic banking lies in its sharialegitimacy and support from the Muslim community. However, weaknesses persist in low shariadigital literacy and regulatory lag. Opportunities arise from blockchain technology, digital payments, and hybrid instruments like digital sukuk, whereas threats emerge from conventional fintech competition and shariareputation risks. Integrating maqosid al syari'ah strengthens digital product innovation through principles of property protection (hifz al-mal), intellectual protection (hifz al-mal), and life protection (hifz al-mal). The findings highlight the need for maqosid based, technology-adaptive regulations and responsive shariafatwasto ensure compliance and innovation. Consequently, Indonesian Islamic banking can sustain growth, enhance competitiveness, and strategically navigate the evolving digital landscape.
Analysis Of Technology Needs Of Msmes In The Fisheries Industry In Pekalongan City: A Digital Transformation-Based Approach And Increasing Competitiveness
Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in local economic development, including the fisheries sector in Pekalongan City. However, low adoption of modern technology hampers productivity and competitiveness of fisheries MSMEs in this region. This study aims to identify the most pressing technological needs and assess the readiness of fisheries MSMEs to adopt digital transformation. The research method used a mixed methods approach through a survey of 30 MSMEs, in-depth interviews with stakeholders, and field observations. Data were analyzed using descriptive statistics, GAP analysis, Technology Readiness Level (TRL), and SWOT analysis. The research results show that the majority of MSMEs (86%) have not utilized digital technology in their production, packaging, or marketing processes. Three key technological needs identified include: (1) renewable energy-based drying machines to increase production efficiency; (2) vacuum packaging equipment to maintain product quality and extend shelf life; and (3) digital marketing and e-commerce platforms to expand market access. The main inhibiting factors are low digital literacy, limited capital for technology investment, and minimal training and technical assistance. These findings align with previous studies that emphasized the importance of digital transformation as a key to improving the competitiveness of fisheries MSMEs. This research recommends several strategies, including routine technology-based training, facilitating financing for technological equipment procurement, and strengthening partnerships between MSMEs, the government, and local technology startups. In conclusion, accelerating digital transformation through appropriate technology can significantly increase the productivity and competitiveness of fisheries MSMEs in Pekalongan City, as well as support the achievement of sustainable development goals (SDGs) in the areas of industrial innovation and decent work.
Copyright (c) 2025 Wisman Indra Angkasa, Tabrani Tabrani
The Utilization of Funnel Marketing in Increasing Customer Lifetime Value at LKP Syntax Training Center
In the era of digital transformation, training institutions are required not only to attract new participants but also to build long-term relationships. Funnel marketing is an effective strategy, directing potential participants from awareness to becoming loyal customers. This study explores the application of funnel marketing to increase customer lifetime value (CLV) at LKP Syntax Training Centre, a certified training institution in Indonesia. Using a blended approach with a case study design, data was collected through digital marketing and management team interviews, promotional documentation analysis, and CRM data related to conversions, retention, and repurchases. The results show that at each stage of the funnel—awareness through educational content and digital advertising, interest through webinars and email nurturing, decisions through certification promo programs, and retention through loyalty programs and communication automation—can increase CLV, with retention being the most crucial stage, contributing 35% to repeat revenue. Research confirms that a systematic funnel marketing strategy can create a more meaningful participant experience, encourage repurchase, and extend relationships with institutions. Practical implications include strengthening content in the early stages to attract relevant participants as well as leveraging automation and data analytics to maintain loyalty. These findings are expected to be a strategic reference for other training institutions in optimizing digital marketing with a long-term impact.
Digitalization of Traditional Markets in Indonesia: Measuring the Impact of Government E-Marketplace Applications on Merchant Financial Turnover and Inclusion (Structural Equation Modeling - SEM Approach)
The wave of digital transformation and competition with private e-commerce threatens the existence of Indonesia's traditional market. In response, the government launched a special e-marketplace application to digitize traders' operations. However, the effective impact of such applications on traders' economic performance and financial inclusion has not been comprehensively measured. This study aims to analyze the factors that affect the adoption of government e-marketplace applications and measure the direct and indirect impact of their use on increasing the turnover of traditional traders by examining the role of financial inclusion as a mediator. This quantitative research uses the Structural Equation Modeling (SEM) approach. The data was collected through a questionnaire of 300 traditional traders in several major cities who had used government apps. The data analysis technique was carried out by path analysis and mediation test. Perception of usefulness and social support have been shown to significantly affect the use of the app, while ease of use is insignificant. The use of applications has a significant positive impact on increasing turnover, both directly and indirectly. Key findings reveal that financial inclusion acts as a very strong partial mediator, with most of the impact on turnover transmitted through increased access to digital finance. The success of traditional market digitization is highly dependent on the integration of financial features in digital platforms. The implication of the policy is the need to focus on socializing economic benefits, collaboration with financial service providers, and technical assistance for traders. This strategy not only increases turnover but also accelerates financial inclusion in the informal sector.
Sustainable Business Model Post-Fuel Subsidy: MSME Strategies in Adopting Green Energy Technology to Increase Efficiency and Competitiveness (Study on Culinary and Fashion MSMEs
The revocation of fuel subsidies creates significant economic pressure on MSMEs, especially the culinary and fashion sectors, through increased operational costs that erode competitiveness. The transformation towards a sustainable business model through the adoption of green energy technology is an urgent need to build business resilience. This study aims to: (1) Analyze the impact of the revocation of fuel subsidies on the cost structure and competitiveness of MSMEs; (2) Identify the most feasible green energy technologies; (3) Formulate an integrated sustainable business model. The research uses a mixed-methods explanatory sequential approach. Quantitative data was collected through a survey of 301 MSMEs, followed by in-depth interviews and FGDs for qualitative data. Data analysis uses inferential statistics and thematic analysis. The increase in fuel increased the operating costs of culinary and fashion MSMEs by an average of 22.3% and 18.7%. Small-scale solar panels are the most technically feasible (score 4.2/5), while biomass stoves are the most economically feasible (ROI 25-35%). Successfully formulated a "Green-Driven Circular Model" based on three pillars: operational efficiency, green value proposition, and multi-stakeholder collaboration. The adoption of green energy technology has proven to be effective as a post-subsidy adaptation strategy. The implementation of a sustainable business model requires collaboration between the government (incentives), technology providers (mentoring), and MSMEs. The findings of this study provide strategic guidance for MSMEs and policy makers in the transition to a green economy.
Creative Economy Dynamics in the Era of Algorithmic Culture: Indonesia's Content Creator Strategy in Monetizing Content on TikTok and YouTube Shorts Platforms (Behavioral Economics Approach)
The development of Indonesia's digital creative economy is increasingly influenced by algorithmic culture, where platforms such as TikTok and YouTube Shorts dictate the visibility and monetization of content. Content creators are required to constantly adapt to the uncertain logic of platforms, creating unique and complex economic dynamics. This research aims to: (1) Map the monetization strategy of Indonesian content creators on the TikTok and YouTube Shorts platforms; (2) Analyze the influence of algorithmic culture on their economic decision-making; and (3) Explain the strategy through a behavioral economics approach. The research used the mixed-methods method sequentially (explanatory sequential). Qualitative data was collected through in-depth interviews with 20 content creators and content analysis. Quantitative data was obtained through a survey of 200 respondents to test the qualitative findings. Research reveals that creators adopt highly diversified monetization strategies to overcome algorithmic uncertainty. High levels of algorithmic literacy correlate with more consistent income. Key findings suggest that economic decision makers are heavily influenced by cognitive biases such as present bias (prioritizing instant rewards) and optimism bias (excessive expectations of viral success). In conclusion, a monetization strategy is a form of behavioral adaptation to algorithmic pressures. The implications of the findings highlight the need for improved algorithm literacy and policy support to create a more sustainable and less platform-dependent creative economy ecosystem, as well as the importance of behavioural economics approaches in understanding the platform economy.
The Influence of Visa-on-Arrival and Digital Nomad Policies on Local Economic Growth: A Study on Super Priority Tourism Destinations in Post-G20 Indonesia
Indonesia's G20 Presidency in 2022 was followed by a breakthrough policy to expand Visa-on-Arrival (VoA) and was taken advantage of by the global digital nomad wave. This phenomenon has the potential to be a catalyst for economic recovery, especially in Super Priority Tourism Destinations, but its empirical impact has not been measured. This study aims to analyze the influence of VoA and digital nomad policies on local economic growth, map their contributions, and evaluate their effectiveness in post-G20 priority destinations. The study uses a mixed-methods approach with a sequential explanatory design. Quantitative data (questionnaires, BPS time series data) were analyzed statistically descriptive and inferential, while qualitative data (interviews, FGDs) were analyzed thematically. The study was conducted in five Super Priority Destinations. The VoA policy contributed significantly to the recovery of tourist visits (+250.6% yoy, 2022), but the impact was uneven and concentrated in destinations with mature infrastructure such as Bali. Digital nomads contribute 2.8 times more than ordinary tourists with unique spending patterns (long-term rentals, co-working spaces, daily necessities), creating a steady economic flow but fueling gentrification challenges. There is a positive synergy between VoA and digital nomads in boosting the local economy. For inclusive and sustainable growth, policy interventions such as special digital nomad visas, MSME liaison programs, and gentrification mitigation regulations are needed. The implications of the findings are the basis for strategic policy recommendations for stakeholders.
Business Model Innovation Strategy To Increase Business Resilience In The Retail Sector In The Era Of Digital Disruption (Case Study In 2023)
The global retail sector is undergoing a fundamental transformation due to digital disruption, which is changing consumer behavior and demanding adaptation of business models. Business resilience is critical in this era, where companies must be able to innovate to survive and grow. Business Model Innovation (BMI) is emerging as a key strategy to meet these challenges, especially in the context of increasingly complex competition post-pandemic. This study aims to identify the forms of BMI adopted by retail companies in 2023, analyze their contribution to business resilience, and formulate a BMI strategic framework to improve business resilience in the retail sector. The study used a qualitative approach with a holistic single case study design on one national retail company in Indonesia. Data is collected through in-depth interviews, observations, and document studies, thematically analyzed with the help of NVivo or Atlas.ti software. The implementation of BMI through the integration of omnichannel strategies, data-driven personalization, the development of multiple revenue streams, and the development of a digital ecosystem has been proven to increase business resilience. This innovation increases operational agility, customer engagement, and competitive advantage. BMI's strategy is effective in building retail business resilience in the digital era. The implication is that business actors need to integrate digital technology, agile business models, and a culture of innovation to achieve sustainable resilience.
Analysis Of The Impact Of Exchange Rate (Exchange) Policy And Inflation On The Composite Stock Price Index (Jci) In Indonesia In 2023
The Indonesian capital market, represented by the Jakarta Composite Stock Price Index (JCI), faces significant turmoil in 2023 triggered by global uncertainty, fluctuations in the Rupiah (USD/IDR) exchange rate, and inflation rate dynamics. The interaction of these two macroeconomic variables on the performance of the JCI in the post-pandemic context and global monetary tightening requires an in-depth analysis. This study aims to analyze the simultaneous and partial influence of exchange rates and inflation on the movement of JCI in Indonesia during the 2023 period, as well as identify which variables have the dominant influence. This study uses a quantitative approach with multiple linear regression analysis methods of monthly time-series data from January to December 2023. Secondary data was obtained from Bank Indonesia, the Central Statistics Agency (BPS), and the Indonesia Stock Exchange (IDX). Data analysis includes classical assumption tests and hypothesis tests with the help of IBM SPSS Statistics software. The results of the study show that simultaneously, the exchange rate and inflation have a significant effect on the JCI (sig. 0.000). Partially, both variables had a negative and significant effect, with the exchange rate (coefficient -0.432; sig. 0.008) having a more dominant influence than inflation (coefficient -0.298; sig. 0.047). It is concluded that the exchange rate is the dominant factor affecting the JCI in 2023. These findings imply the importance of exchange rate stabilization policies by monetary authorities and the need for investors to consider the sensitivity of the capital market to external factors in investment decision-making.
The Impact Of E-Wallet And Social Media Adoption On The Financial Performance Of Culinary Msmes In Indonesia Post-Covid-19 Pandemic
The COVID-19 pandemic has forced culinary MSMEs in Indonesia to accelerate the adoption of digital technology, especially e-wallets and social media, in order to survive and adapt to changes in consumer behavior. However, the continued impact of this adoption on financial performance in the post-pandemic era still needs to be further researched. This study aims to analyze the partial influence of e-wallet adoption, the partial influence of social media adoption, and the synergistic influence of both on the financial performance of culinary MSMEs in post-pandemic Indonesia. This quantitative research uses an online questionnaire of 425 culinary MSME actors selected using the purposive sampling technique. Data were analyzed using multiple linear regression analysis to test the relationships between variables. The results of the study prove that the adoption of e-wallets and social media individually has a positive and significant effect on financial performance. The most important finding revealed that the synergy of the two technologies had a greater impact, being able to explain 58.9% variation in improving financial performance through the creation of an integrated digital ecosystem. This study concludes that the adoption of e-wallets and social media does not only contribute individually, but most importantly the synergy between the two in creating a digital ecosystem that is able to transform business operations and marketing of culinary MSMEs, which ultimately leads to sustainable financial performance improvements post-pandemic. The practical implications emphasize the need for an integrated strategic approach in the adoption of digital technologies.
Digital Business Models In The Development Of Modern Agriculture: An Empirical Study In Farmer Communities
This research aims to analyze the application of digital business models in the development of modern agriculture, with a focus on the farming community in Cirebon Regency. The background of the research is based on the fact that the agricultural sector in Indonesia still faces various challenges such as low productivity, limited market access, and dependence on traditional distribution chains. Digital transformation is believed to be able to be a strategic solution to increase efficiency, expand market access, and strengthen the competitiveness of smallholders. This study uses a qualitative approach with a case study design. Data was collected through in-depth interviews with farmer group leaders and digital assistants, distribution of questionnaires to farmers who have participated in digitalization training, and field observations during one planting cycle. The results of the study show that the digital business model provides real benefits in the form of increased online market access, production recording efficiency, and local innovation opportunities. However, significant barriers remain, especially the limitations of digital literacy, internet infrastructure, and social resistance. Community-based adaptation strategies, such as the role of millennial farmers as digital agents and peer learning systems, have proven effective in supporting the transformation process. This study concludes that digital business models have great potential in strengthening the sustainability of modern agriculture, noting that there is more comprehensive ecosystem support.
Bio-Inspired Computing-Based Multi-Objective Optimization For Sustainable Manufacturing In The Industry 4.0 Era
This study aims to evaluate the contribution of bio-inspired computing towards the sustainability of manufacturing systems in the context of Industry 4.0. Using quantitative and design approaches, data were collected from 100 professional respondents in the manufacturing sector through questionnaires and structured interviews. Statistical analysis was performed using Pearson correlation, linear regression, t-test, and ANOVA with the help of SPSS software. The results showed a very strong and significant relationship between the use of bio-inspired algorithms, such as Particle Swarm Optimization (PSO), with energy efficiency (r = 0.872), production level (r = 0.723), and environmental sustainability (r = 0.790). Linear regression showed that the use of the technology explained 76.1% of the variability in energy efficiency (R² = 0.761; p < 0.001). The ANOVA results also showed significant differences between groups of technology users in terms of efficiency achievements. These findings indicate that bio-inspired computing can be an important strategy in digital transformation and more sustainable decision-making. This study contributes to developing multi-objective optimization theory and provides practical implications for industrial management in implementing adaptive and environmentally friendly technologies.
The Role of the Circular Economy in Improving the Sustainability of the Creative Industry in Indonesia
This research aims to analyze the role of the circular economy in improving the sustainability of the creative industry in Indonesia. The background of the research departs from global problems related to high material consumption and waste, as well as the significant contribution of the creative sector to the national Gross Domestic Product (GDP). Although the concept of the circular economy is increasingly recognized internationally, its implementation in Indonesia's creative industry is still limited and partial. This study uses a qualitative approach with an exploratory case study design. The subjects of the study were 15 business actors in the fashion, crafts, and culinary subsectors in Jakarta, Bandung, Yogyakarta, and Surabaya. Data were collected through in-depth interviews, licensed employee questionnaires, participatory observations, and documentation studies, and were thematically analyzed. The results of the study show that the implementation of the circular economy in the creative sector is more focused on the use of residual materials, the use of recycled materials, and the replacement of environmentally friendly packaging. The main obstacles include cost limitations, lack of market incentives, and low consumer literacy. The findings also confirm variations across subsectors: fashion excels in the use of leftover fabrics, crafts in recycled materials, and culinary in plastic reduction. The implications of this study emphasize the importance of integrating circular principles into business strategies, employee education, and government policy support. This is expected to accelerate the transition to a more competitive, sustainable, and adaptive creative industry to global demands.
Monetary Policy Dynamics and Macroeconomic Stability: A Post-Pandemic Empirical Study in Indonesia
The COVID-19 pandemic has caused a significant shock to global economic stability, including Indonesia, through growth contractions, soaring inflation, and exchange rate volatility. This research aims to analyze the dynamics of monetary policy and its influence on Indonesia's macroeconomic stability in the post-pandemic period. Using a qualitative approach through in-depth interviews, questionnaires to 120 licensed employees in the financial sector, as well as observations of macroeconomic indicators, the study yielded several important findings. First, monetary policy, especially the adjustment of the benchmark interest rate (BI7DRR), has proven effective in suppressing inflation from 5.5% in 2022 to 3.2% in 2023, while maintaining the stability of the rupiah exchange rate in the range of Rp14,800-Rp15,500 per USD. Second, the results of the questionnaire showed that 73% of respondents considered monetary policy effective in controlling inflation and 81% considered the exchange rate stable, but only 62% of respondents assessed that the policy encouraged MSME credit recovery. Third, the results of the interviews emphasized the importance of coordinating monetary and fiscal policies, especially in energy and food price controls, to support short- and medium-term stability. These findings confirm that while monetary policy plays an important role in maintaining macro stability, its limitations to real sector recovery demand cross-policy synergy. This research provides an academic contribution in the form of integration of empirical data and practitioner perceptions, as well as practical implications for the formulation of adaptive, collaborative, and inclusive monetary strategies in the midst of post-pandemic global dynamics.
Sistem Agen AI (Agentic AI) sebagai Mitra Produktivitas UMKM di Indonesia
MSMEs are the backbone of the Indonesian economy, yet their productivity remains hampered by limited resources, digital readiness, and business process governance. The emergence of agentic AI, artificial intelligence-based agents capable of autonomously planning, remembering, and executing tasks, offers opportunities to reduce administrative burdens and improve workflow efficiency. This study aims to map the opportunities and barriers to implementing agentic AI in MSMEs, design an Agentic-MSME Alignment (AUA) framework, and examine its impact on productivity and service quality indicators. A mixed-methods approach was used, including surveys of 30 MSMEs in three major cities, in-depth interviews with 10 MSMEs, observations of AI prototype implementations, and system log analysis. Data were analyzed using paired sample t-tests and thematic analysis to validate the results. The findings show significant improvements in time efficiency, sales, and customer satisfaction. Interviews confirmed that the greatest benefits were accelerated customer response and reduced administrative burden, although concerns were raised about data privacy and output errors. The integration of the AUA framework has been shown to strengthen transparency, reduce administrative errors, and encourage a new division of labor between AI and humans. This study provides empirical evidence that agentic AI can be a productivity partner for MSMEs, provided there is increased digital literacy, ethical governance, and community support. This research contribution not only broadens academic knowledge on AI in MSMEs but also offers practical guidance for developing inclusive digital transformation policies and strategies in Indonesia.
E-Commerce and Consumer Behavior: A Comparative Study of Local and Global Marketplaces in Indonesia
The development of e-commerce in Indonesia has driven significant changes in consumer behavior. Local marketplaces such as Tokopedia, Shopee, and Bukalapak compete fiercely with global marketplaces such as Amazon, eBay, and AliExpress. This study aims to: (1) compare consumer behavior in local and global marketplaces, (2) identify the main factors influencing consumer preferences, and (3) analyze the impact of trust variables, security, product variation, and service quality on purchase decisions. The method used is qualitative research with a comparative study approach. Data was collected through in-depth interviews, observations, and documentation, then analyzed with Miles and Huberman's interactive model. The results show that trust and transaction security are the most dominant factors in influencing purchase decisions, followed by ease of use and quality of customer service. Local marketplaces are superior in terms of trust and convenience of transactions, while global marketplaces are stronger in product variety. The conclusion of this study is that Indonesian consumer behavior is more determined by trust and security factors, not just product or price variation. The practical implication is that local marketplaces need to expand product variety to be more competitive, while global marketplaces need to adapt payment methods and customer service according to the needs of Indonesian consumers.
Sharing Economy-Based Business Model Innovation: Challenges and Opportunities in the Society 5.0 Era
The sharing economy has become a global phenomenon that is able to change the traditional business paradigm towards a collaboration-based model. In the context of Society 5.0, the sharing economy is not only seen as a technological innovation, but also as a human-centered society development strategy that emphasizes a balance between economic progress and social problem solving. This research aims to: (1) identify potential sharing economy business model innovations, (2) analyze implementation challenges and opportunities, and (3) formulate synergy strategies with Society 5.0. The research method used is qualitative descriptive, with data collection through in-depth interviews, observations, and documentation studies. Data analysis was carried out using Miles & Huberman's interactive model which includes data reduction, data presentation, and conclusion drawn. The results of the study show that innovations such as pay-per-use, peer-to-peer lending, ride sharing, and coworking space dominate the development of the sharing economy. The main challenges in implementation lie in regulations, digital literacy gaps, limited human resources, and low public trust. However, greater opportunities open up through the use of cutting-edge technology, increased digital literacy, and the implementation of adaptive regulations. The implications of this study show that with strategies to strengthen regulations, inclusive digital transformation, and increase technology-based trust, the sharing economy can be the main driving force for inclusive and sustainable economic development within the framework of Society 5.0.
Disaster Capitalism: An Analysis of Financial Networks and Speculative Market Dynamics in the Climate Crisis (Disaster Capitalism: An Analysis of Financial Networks and Speculative Market Dynamics in the Climate Crisis)
The global climate crisis has become a new frontier for capitalist expansion through disaster-based speculative markets. This study aims to analyze how global financial networks and instruments such as catastrophe bonds and carbon credits are utilized to accumulate capital from climate uncertainty. Employing a qualitative approach with a critical case study design, data were collected through in-depth interviews, participatory observation, and document analysis of policy and financial reports. The findings reveal that disaster capitalism exacerbates adaptation inequality between developed and developing countries and distorts climate policy responses through risk narratives manipulated for financial gain. These insights highlight the urgent need for community-based alternatives and equitable global regulation to ensure a just and sustainable climate response.
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Attention Economy And Work Productivity: The Impact Of Cognitive Fragmentation On The Performance Of The Creative Sector (The Attention Economy And Work Productivity: The Impact Of Cognitive Fragmentation On Creative Sector Performance)
The development of the digital economy has given rise to the phenomenon of the attention economy that makes human attention the main resource in the world of work, especially in the creative sector. This study aims to explore the impact of cognitive fragmentation caused by digital distractions on creative work productivity. The approach used was qualitative with a phenomenological design, involving 15 creative workers in major Indonesian cities who were interviewed in depth. The results showed that attention disorders such as notifications, multitasking, and high connectivity expectations led to a decrease in the quality of focus, ideation, and work output. Individual adaptation strategies such as time-blocking and digital detox have not been effective enough without systemic support from the organization. These findings confirm the need to redefine productivity in the context of digital work as well as the importance of attention management policies in creative work environments. This research makes a practical contribution to the development of a more humane and sustainable digital work policy.
AgriPreneurship and Digital Accounting: Redefining Business Models for Sustainable Agriculture
Digital transformation in the agricultural sector has opened up new opportunities for agripreneurs to improve business efficiency and competitiveness in the global market. Digital accounting is present as an important instrument, not only in recording transactions, but also in building transparency, access to financing, and strengthening sustainable business models. However, the adoption of this technology still faces challenges in the form of low digital literacy, implementation costs, and human resource resistance. This study aims to map the driving factors and obstacles to the adoption of digital accounting in agricultural SMEs, examine the role of the integration of Farm Financial Accounts (FFA) and Farm Management Information Systems (FMIS), and formulate a framework for redefining agripreneurship business models towards sustainability. The research uses a qualitative approach with exploratory case studies on agricultural SMEs in West Java. Data were collected through semi-structured interviews, questionnaires, field observations, and digital financial statement documentation, then analyzed by thematic analysis and triangulation techniques. The findings show that the use of digital accounting increases the speed of financial reporting, strengthens credibility in the eyes of financial institutions, and facilitates the integration of Environmental, Social, and Governance (ESG) indicators in business practices. The adoption of digital accounting has also been proven to expand access to financing through banks and fintech, as well as encourage data-driven business model innovation. This research confirms that digital accounting is a strategic catalyst in redefining sustainable agripreneurship business models. The results of the research can be a reference for business actors, technology providers, and policymakers to strengthen digital literacy, provide technology incentives, and integrate ESG principles in agricultural policies.