EKUITAS (Jurnal Ekonomi dan Keuangan) https://ejournal.stiesia.ac.id/ekuitas <p>EKUITAS (Jurnal Ekonomi dan Keuangan) is published by the <strong><a href="https://stiesia.ac.id/">Sekolah Tinggi ilmu Ekonomi Indonesia (STIESIA) Surabaya</a></strong> periodically (every three months), in <strong>March</strong>, <strong>June</strong>, <strong>September</strong>, and <strong>December</strong>, with the aim of disseminating the results of research, study, and development in the economic and finance, particularly in the fields of accounting, management, capital markets, business law, taxation, information systems, as well as other areas of economics and finance. Articles published in EKUITAS can be in the form of Research Articles or Conceptual Articles (non-research). EKUITAS (Jurnal Ekonomi dan Keuangan) is accredited with number <strong><a href="https://ejournal.stiesia.ac.id/public/site/images/trisulo/sertif-akreditasi-2021.jpg">No. 158/E/KPT/2021</a></strong> with ISSN numbers e-ISSN <a title="eISSN" href="https://portal.issn.org/resource/ISSN/2548-5024" target="_blank" rel="noopener"><strong>2548 – 5024</strong></a> and p-ISSN <a title="pISSN" href="http://issn.pdii.lipi.go.id/issn.cgi?daftar&amp;1478073444&amp;1&amp;&amp;" target="_blank" rel="noopener"><strong>2548 – 298X</strong></a></p> <p><a href="#top"><strong>NO FAST TRACK </strong></a></p> en-US [email protected] (Nur Handayani) [email protected] (Ekuitas) Tue, 20 Feb 2024 14:50:27 +0700 OJS http://blogs.law.harvard.edu/tech/rss 60 E-SATISFACTION AND E-LOYALTY: THE ROLE OF BRAND IMAGE AND E-SERVICE QUALITY https://ejournal.stiesia.ac.id/ekuitas/article/view/5677 <p>The effect of brand image and e-service quality on e-loyalty is mediated via e-satisfaction, as this study's empirical evidence demonstrates. Four variables are used in the study model, which applies the idea of mediation. SEM-PLS is used to assess each association. A total of 384 Medan-based Shopee e-commerce users who have made at least three online purchases were included in this study using a purposive sample technique. An online questionnaire was used for data collecting, and the partial least squares (PLS) analysis method was used for data analysis. The study's findings revealed that e-satisfaction was positively and significantly impacted by brand image, e-satisfaction was positively and significantly impacted by e-service quality, e-loyalty was positively and significantly impacted by brand image, e-satisfaction positively and significantly impacted by e-loyalty, and brand image affects e-loyalty through e-satisfaction and e-service quality through e-satisfaction. According to this research, e-satisfaction acts as a mediator between brand image and e-service quality's effects on e-loyalty and e-commerce. The e-satisfaction measure should be analyzed or used as an independent variable rather than a mediating variable, according to recommendations for additional research.</p> Satria Tirtayasa, Jufrizen, Wimpi Siski Pirari, Maya Sari Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5677 Tue, 20 Feb 2024 00:00:00 +0700 ORGANIZATIONAL CHANGE, ENVIRONMENTAL CHANGE AND CHANGE IN MANAGEMENT ACCOUNTING PRACTICES: A CONTINGENCY APPROACH https://ejournal.stiesia.ac.id/ekuitas/article/view/5817 <p>In this study, the impact of mediated organizational changes and environmental changes on management accounting procedures is investigated. The management of the organization will need to make administrative and management accounting practice adjustments due to the high level of environmental unpredictability. This study employs a survey approach with 149 company managers in mid-to-high level positions in East Javan manufacturing companies as respondents. Data analysis techniques using Smart PLS are used to examine the relationship between changes in the environment and changes in management accounting practices, both directly and indirectly. The findings demonstrated that modifications in management accounting procedures are positively and strongly impacted by ecological changes. Changes in management accounting procedures benefit from organizational changes. On the other hand, modifications to the practice of management accounting cannot be mediated by changes to the organization. This study is unique in that it examines how environmental changes impact management accounting practices. Specifically, it shows that changes in technology and a highly competitive market will impact management accounting methods related to evaluation, costing, and decision-making. Changes in the organization's structure and technology utilization support this shift in management accounting.</p> Nanik Wahyuni, Novi Lailiyul Wafiroh, Boge Triatmanto Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5817 Tue, 27 Feb 2024 00:00:00 +0700 UNRAVELING CARBON IMPACT: ASSESSING EXPORT, COMPETITIVENESS, GDP, AND POPULATION IN INDONESIA'S OIL PALM TRADE https://ejournal.stiesia.ac.id/ekuitas/article/view/5911 <p>In Indonesia's oil palm commerce, this study investigates at the relationship between population growth, economic growth, market competitiveness, and export trade with carbon emissions. Time-series data from 1995 to 2021 collected from statistical sources is used in this study. This link is computed and analyzed using the econometric method. Lower carbon emissions in oil palm exports are correlated with sustainable practices and market competitiveness. To disentangle trade growth from environmental effect, sustainable land-use practices, deforestation reduction, and transparent supply chains are crucial. Given the erratic correlation between GDP and carbon emissions, striking a balance between economic expansion and environmental protection is imperative. Population expansion drives efforts to lower carbon footprints by influencing environmental awareness and the market for oil palm. Well-given initiatives such as clean technology, certification support, and sustainable trade policies have policy repercussions. Policymakers, industry players, and environmental groups working together can guarantee Indonesia's oil palm exports' long-term sustainability and ecological viability.</p> Erwinsyah Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5911 Wed, 28 Feb 2024 00:00:00 +0700 FLUCTUATING COMMODITY PRICES' EFFECT ON INDONESIAN COAL AND PALM OIL https://ejournal.stiesia.ac.id/ekuitas/article/view/5916 <p>This study examines the impact of fluctuating commodity prices on the stock volatility and financial performance of Indonesian coal and palm oil companies between 2011 and 2022. During the COVID-19 pandemic, commodity price fluctuations have significantly influenced these sectors. Using Vector Error Correction Model (VECM) and Dynamic Conditional Correlation Generalized Autoregressive Conditional Heteroskedasticity (DCC GARCH) approaches, as well as panel regression, this study analyzes price volatility and its effect on financial performance. The findings reveal distinct volatility patterns in the palm oil and coal industries, providing valuable insights for investors to understand the risks associated with price fluctuations and identify companies significantly affected by such volatility. This research contributes to understanding the relationship between fluctuations in commodity prices and stock prices of palm oil and coal companies, as well as their financial performance, in the context of the Indonesian economy, which relies heavily on these two commodities. By emphasizing the importance of understanding commodity price dynamics, this study provides valuable information for investor decision-making and risk management in the face of commodity price volatility.</p> Danny Jubel Abrian Sianturi Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5916 Thu, 29 Feb 2024 00:00:00 +0700 THE ANTECEDENT OF SATISFACTION AND ITS IMPACT ON LOYALTY IN IN-PATIENT CARE (STUDY AT XYZ HOSPITAL CIREBON) https://ejournal.stiesia.ac.id/ekuitas/article/view/5954 <p>Patient loyalty is an essential factor contributing to increased in-patient hospital visits. This study aims to understand the importance of patient loyalty in the context of increasing patient visits. This study examines the impact of service quality variables, hospital brand image, patient-perceived value, and patient satisfaction on patient loyalty. This study was conducted in Cirebon City, Indonesia, with 160 eligible samples from state-owned XYZ hospitals. The sample criteria were patients with hospitalization status. Then, this study developed eight hypotheses to examine the statistical connection between direct, intervening, and multiple-effect models. Problem-solving and research emphasis are conducted utilising a numerical technique with a PLS-SEM-based testing tool. The bootstrapping technique is employed alongside the consistent bootstrapping procedure to showcase the findings of hypothesis testing; we discover that the overall hypothesis has a favourable and noteworthy impact. In testing the importance-performance map analysis (IPMA), it was concluded that the patient's perceived value needs to be improved. In contrast, service quality must be maintained to achieve high patient loyalty.</p> Mochamad Deya Najmuddin, Pauline Henriette Pattyranie Tan Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5954 Mon, 04 Mar 2024 00:00:00 +0700 BRIDGING GAPS: ANALYZING FINTECH ADOPTION AND ITS CONTRIBUTION TO OVERCOMING SOCIAL EXCLUSION IN THE INDONESIAN FINANCIAL LANDSCAPE https://ejournal.stiesia.ac.id/ekuitas/article/view/5929 <p>Financial Technology, a component of the technological revolution in the financial industry, has a significant impact on both the micro and macro finance sectors. Significant investment is fueling the growth of the FinTech sector on a global scale. The mobile payment and transfer industry experienced the most rapid growth, increasing by 75% in 2019. Indonesia has emerged as a significant hub for digital economic growth, with 203 million users and a transaction value of US$ 99.1 billion in 2022. Nevertheless, this favorable pattern has yet to affect the Indonesian economy. The extent of financial inclusion in Indonesia remains one of the lowest compared to other nations in ASEAN. This study examines the factors influencing the utilization of FinTech in Indonesia and the resulting impact on financial inclusion. SEM-PLS method was used for quantitative analysis to examine 369 data respondents statistically. The findings of this study indicate that the four underlying factors (digital literacy, financial literacy, acceptance model, and usage of technology) have a favorable and significant impact on the intention to utilize FinTech payments. Sustainable use has also been exploitative and exploratory behavior by users. Using FinTech payments with exploitative and explorative patterns has been statistically demonstrated to enhance financial inclusion in Indonesia.<em><br /></em></p> Muh Fadli Wahyu Utomo, Darwanto Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5929 Tue, 19 Mar 2024 00:00:00 +0700 PRESSURE AND OPPORTUNITY AS DRIVERS OF FRAUDULENT FINANCIAL REPORTING INTENTION: AN EXPERIMENTAL STUDY https://ejournal.stiesia.ac.id/ekuitas/article/view/6221 <p>Penelitian ini bertujuan untuk menguji dan mendapatkan bukti empiris pengaruh tekanan dan kesempatan yang dihadapi individu manajer keuangan terhadap terjadinya kecurangan laporan keuangan. Kesempatan dan tekanan mendasarkan pada Fraud Triangle Theory, dan niat individu untuk melakukan kecurangan mendasarkan pada Theory of Planned Behaviour. Kedua teori tersebut digunakan untuk memprediksi dan menjelaskan perilaku individu dalam penelitian ini. Penelitian ini menggunakan metode eksperimen antar subjek dengan dua kelompok partisipan yaitu 132 mahasiswa Program Pendidikan Profesi Akuntansi dan 124 karyawan Badan Usaha Milik Negara. Hasil penelitian mengungkapkan bahwa terdapat perbedaan signifikan yang ditunjukkan oleh partisipan yang berada di bawah tekanan dan yang tidak, serta partisipan yang memiliki kesempatan untuk melakukan kecurangan dan yang tidak. Kedua kelompok partisipan menunjukkan hasil yang sama yaitu berniat untuk melakukan kecurangan. Implikasi praktis dari penelitian ini adalah manajemen perusahaan dapat meminimalisir terjadinya kecurangan dengan membangun pengendalian internal yang lebih efektif, menciptakan budaya organisasi yang lebih baik dan meningkatkan kesejahteraan para karyawan.</p> Zaki Baridwan, Bambang Subroto Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/6221 Wed, 20 Mar 2024 00:00:00 +0700 ESG, CSR, AND COMPANY CHARACTERISTICS IN FORMING INVESTOR REACTIONS https://ejournal.stiesia.ac.id/ekuitas/article/view/5948 <p>This study aims to determine whether investors use non-financial disclosures in their investment activities, such as firm characteristics within companies indexed in IDX ESG Leaders during the 2020–2022 period and ESG (Environmental, Social, and Governance) and CSR (Corporate Social Responsibility). Investor responses are evaluated using Stocks Abnormal Return (SABR) and Trading Volume Activity (TVA). At the same time, non-financial disclosures are analyzed through ESG Score from Morningstar Sustainalytics, CSR Index from GRI Indicator, and firm factors including age and industry type. Results from a study of 45 data points, including 15 companies included in IDX ESG Leaders, suggest a notable inverse connection between ESG disclosure and SABR and TVA. However, the disclosure of CSR does not demonstrate a substantial effect. Company attributes, particularly age, benefit the level of trade activity, whereas the kind of industry has a notable adverse effect. To some extent, investors view ESG disclosure as a negative indication because of the risks that come with companies that perform in terms of ESG. On the other hand, a company's advanced age can be used by management to gain a competitive edge and demonstrate stability to investors, thanks to the long-standing ties with stakeholders that result in steady financial performance. In addition, investors tend to favor companies in low-risk industries while avoiding high carbon-emitting areas.<em><br /></em></p> Alvin Ardian, Martdian Ratna Sari Copyright (c) 2024 https://ejournal.stiesia.ac.id/ekuitas/article/view/5948 Sat, 30 Mar 2024 00:00:00 +0700