Jurnal Ekonomi Bisnis

DINAMIKA PASAR UANG, DERIVASI KURVA LM, DAN TRANSMISI KEBIJAKAN MONETER DI INDONESIA: ANALISIS TEORITIS DAN EMPIRIS DALAM ERA DIGITALISASI KEUANGAN

Haidir — 2026-09-30

This study analyzes Indonesia's money market dynamics through the LM curve framework, Bank Indonesia's monetary transmission mechanisms, and the implications of financial digitalization on money demand. Using a descriptive-qualitative approach based on systematic literature review and policy analysis, it integrates Keynes's (1936) and Hicks's (1937) theory with Indonesia's 2019–2024 empirical developments. Findings show: (1) money demand consistently follows Keynesian patterns driven by national income (Y) and interest rates (i); (2) BI Rate, Open Market Operations, and Reserve Requirement policies effectively shift the LM curve—expansionary (2020–2021) and contractionary (2022–2023); (3) digitalization (QRIS, digital wallets) modifies the LM slope through declining income elasticity of money demand; (4) institutional transformation (P2SK Law, BSI) strengthens yet complicates monetary transmission. The study proposes an Enhanced LM Framework incorporating digital, dual-banking, and inflation-expectation dimensions relevant to the Indonesian context.

ANALISIS RASIO KEUANGAN SEBAGAI PREDIKTOR FINANCIAL DISTRESS PADA PERUSAHAAN RITEL YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2021–2025

Finka Agustia — 2026-10-01

This study analyzes financial distress conditions among retail companies listed on the Indonesia Stock Exchange (IDX) during 2021–2025 using four key financial ratios: the current ratio (CR), debt to equity ratio (DER), total asset turnover (TATO), and return on assets (ROA). A quantitative approach was used with secondary data drawn from the annual financial ratio reports of five retail issuers (ACES, MAPI, RALS, LPPF, and MPPA), yielding 25 firm-year observations. Financial distress was operationalized as a dummy variable based on negative net income in the reporting year. Data were analyzed using descriptive statistics, the Mann-Whitney U test, Pearson correlation, and binary logistic regression. The difference test shows that TATO and ROA differ significantly between the distressed and non-distressed groups (p<0.01), while CR and DER are not significant at the 5% level. The logistic regression using CR, TATO, and ROA exhibited complete separation, since these ratios consistently separated the distressed and non-distressed groups within the sample, so maximum-likelihood coefficients could not be reliably identified — a substantive finding in itself regarding model limitations with small samples. Distressed firms showed higher TATO yet negative ROA, indicating that high sales volume does not guarantee profitability when cost structure and margins are not controlled. The study concludes that ROA and TATO are more relevant indicators than CR and DER in distinguishing the financial condition of retail firms during the post-pandemic recovery period, and recommends a larger sample for future research to allow more stable prediction-model estimation.

PENGARUH PENGETAHUAN PENGANTAR BISNIS TERHADAP MINAT BERWIRAUSAHA MAHASISWA: Sebuah Kajian Literatur Sistematis pada Program Studi Manajemen

Sastya Putri — 2026-09-30

The persistently low national entrepreneurship ratio and the high rate of open unemployment among young people have made strengthening students' entrepreneurial interest a strategic agenda for Indonesian higher education. The Introduction to Business course, commonly taught in the early semesters of Management study programs, is believed to serve as a vehicle for building foundational business knowledge that may foster students' entrepreneurial interest. This article aims to: (1) examine the nature and scope of Introduction to Business knowledge within the management curriculum; (2) synthesize prior empirical findings on the influence of entrepreneurial/business knowledge on students' entrepreneurial interest; and (3) formulate a conceptual model and methodological recommendations for further empirical research. The method used is a systematic literature review of twelve SINTA- and DOAJ-indexed national journal articles from 2017–2024 that specifically examine the relationship between entrepreneurial/business knowledge and entrepreneurial interest. The synthesis shows that nine of the twelve studies reported a positive and significant effect, while three others found the effect to be non-significant or mediated by other variables such as motivation and self-efficacy. This article concludes that Introduction to Business knowledge has the potential to increase students' entrepreneurial interest, although its influence is conditional and requires reinforcement through experiential learning. The practical implication provides a conceptual basis for developing a more applied Introduction to Business curriculum and a methodological framework for further survey research at the Management Study Program of Universitas Wira Buana.

PENGUKURAN KEGIATAN EKONOMI MAKRO: KAJIAN TEORITIS DAN EMPIRIS ATAS PRODUK DOMESTIK BRUTO, INFLASI, PENGANGGURAN, DAN SIKLUS EKONOMI DI INDONESIA

Rizky Sugeng — 2026-09-30

The measurement of macroeconomic activities constitutes the analytical foundation for evidence-based economic policy formulation. This article aims to systematically review the concepts, methodologies, and interrelationships among four key macroeconomic indicators, Gross Domestic Product (GDP), inflation, unemployment, and the business cycle, within the context of the Indonesian economy. Employing a comprehensive systematic literature review approach reinforced by secondary data from the Central Statistics Agency (BPS) and Bank Indonesia (BI) for the period 2019-2023, this study demonstrates that: (1) Indonesia recorded real GDP growth of 5.05% in 2023 with an expenditure structure dominated by household consumption (54.4%); (2) Consumer Price Index (CPI) inflation was successfully reduced from 5.51% in 2022 to 2.61% in 2023 through Bank Indonesia's tight monetary policy; (3) the Open Unemployment Rate (OUR) declined to 5.32% as post-pandemic recovery gained momentum; and (4) Indonesia's economic cycle exhibited high resilience following the technical recession of 2020. This review affirms the critical importance of fiscal-monetary policy coordination in stabilizing the economic cycle and achieving long-term macroeconomic targets. The findings are relevant for academics, policymakers, and practitioners requiring an integrated analytical framework for interpreting Indonesian economic conditions.

EFEKTIVITAS PENGELOLAAN APBD DAN CAPAIAN PEMBANGUNAN PENDIDIKAN BERKELANJUTAN DI KOTA METRO: ANALISIS DOKUMENTER BERBASIS DATA SEKUNDER

Suharto — 2026-10-01

This study aims to analyze the effectiveness of Regional Revenue and Expenditure Budget (APBD) management in Metro City and its relationship with sustainable education development outcomes. The study is motivated by the statutory obligation to allocate at least 20 percent of the budget to education, alongside prior findings suggesting that a large education budget allocation does not automatically translate into effective utilization. A descriptive-quantitative approach based on documentary analysis of secondary data, drawn entirely from officially published, openly available sources, was employed for the City of Metro, Lampung Province, using official data such as APBD summaries, aggregate Budget Realization Reports, the 2025-2045 Regional Medium-Term Development Plan (RPJMD), and publicly reported Audit Board (BPK) results. Budget effectiveness ratios were calculated using standard public-sector financial performance criteria. Results indicate that Metro City's regional expenditure realization for fiscal year 2025 reached 94.78 percent of target, alongside an Unqualified Opinion (WTP) awarded for the sixteenth consecutive time, suggesting relatively accountable financial governance at the aggregate level. However, education outcome indicators in the RPJMD, namely Mean Years of Schooling (RLS) and Expected Years of Schooling (HLS), consistently fell below target throughout 2021-2024 despite positive year-on-year growth, indicating a gap between aggregate budget effectiveness and substantive education outcomes. The study recommends strengthening performance-based budgeting, open data transparency down to the program and activity level, and exploring green financing schemes to complement the regional budget in supporting sustainable education development in Metro City.

Manajemen Pengelolaan BUMDes dalam Upaya Meningkatkan Pendapatan Asli Desa. Studi Kasus BUMDes Bumi Raharjo, Kecamatan Bumi Ratu Nuban, Kabupaten Lampung Tengah

Aninda Amelia — 2026-09-30

This study aims to determine the role of Village-Owned Enterprises (BUMDES) in increasing village revenue in Bumi Raharjo Village-Owned Enterprises, Bumi Ratu Nuban District, Central Lampung. Village-Owned Enterprises (BUMDES) are village business institutions managed by the community and village government in an effort to strengthen the village economy and are formed based on the needs and potential of the village. BUMDES is a pillar of economic activity in the village that functions as a social institution and commercial institution. The type of research used is quantitative research with a comparative research approach with a paired sample t-test which aims to determine the role of Village-Owned Enterprises in increasing village revenue before and after the existence of BUMDES. After conducting the study, it shows that Village-Owned Enterprises as an effort to increase village revenue in Bumi Raharjo Village-Owned Enterprises, Bumi Ratu Nuban District, Central Lampung play a role in increasing village revenue. One new approach that is expected to be able to stimulate and drive the wheels of the rural economy is through the establishment of Village-Owned Enterprises (BUMDES) which are fully managed by the village community. This economic institution must be based on the aspirations of the village community, stemming from potential that can be properly managed to increase Village Original Income (PADES).

PERILAKU ORGANISASI DI ERA DISRUPSI DIGITAL Hakikat, Ruang Lingkup, dan Relevansi Studi Perilaku Organisasi dalam Konteks Industry 4.0 dan Society 5.0

Nurris Septa Pratama — 2026-09-30

Organizational behavior is an applied discipline that systematically examines how individuals, groups, and organizational structures interact to produce organizational effectiveness. Amid digital transformation acceleration, artificial intelligence disruption, and post-COVID-19 work paradigm shifts, organizational behavior studies are undergoing fundamental reconfiguration. This article aims to: (1) identify the nature of organizational behavior in a contemporary perspective; (2) map the scope of organizational behavior studies adaptive to current developments; and (3) explain the relevance and benefits of organizational behavior studies for modern Indonesian organizations. The method employed is a systematic literature review of 15 Scopus and SINTA-indexed articles from 2020–2025. Findings indicate that organizational behavior has evolved from classical behavioristic approaches toward an integrative paradigm encompassing digital, cross-cultural, and sustainability dimensions. Practical implications provide a roadmap for managers, academics, and HR practitioners in managing human behavior in Industry 4.0 and Society 5.0 era organizations.