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Br Tarigan, Nuragus Listiyani; Rangkuty, Dewi Mahrani; Abdiyanto Abdiyanto

International Journal of Economics, Commerce, and Management 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study examines the influence of monetary policy, particularly interest rates, on economic stability in the TIMI countries (Thailand, India, Malaysia, and Indonesia). It underscores the vital role of interest rates in controlling inflation and stimulating economic growth. Utilizing a Vector Autoregression (VAR) model, the research analyzes the reciprocal relationships between crucial economic indicators such as GDP, CPI, exchange rates, consumption, interest rates, and trade balances from 2008 to 2022. For instance, adjustments in interest rates can influence investment levels, consumption patterns, and inflation rates, thereby affecting overall economic activity. The Granger causality tests indicate that short-term relationships between these variables are insignificant, but long-term interactions are evident. This supports the Johansen cointegration results, which confirm two cointegrated equations at the 5% significance level. The study emphasizes maintaining interest rate stability for sustainable economic growth and price stability. It highlights that fluctuations in interest rates, influenced by global economic conditions and domestic economic policies, play a crucial role in the economic performance of TIMI countries. Recommendations for central banCM include implementing responsive and adaptive interest rate policies to manage inflation, foster economic growth, and maintain exchange rate stability. This approach is essential for addressing disparities in income, education, healthcare, and technology access, which are critical for equitable economic development. In conclusion, this research underscores the importance of a nuanced understanding of monetary policy's impact on economic stability and the need for coordinated efforts between fiscal and monetary authorities to achieve long-term

Yuanitasari, Annastasia Anisah; Sri Nawatmi

KOMPAK : Jurnal Ilmiah Komputerisasi Akuntansi 2024 Universitas Sains dan Teknologi Komputer

Stock market can be fluctuate and uncontrolled depends on many internal and external factors.  The fluctuation itself can bring impact to capital market entities and the economy. This study focused for investigate the effects of inflation, interest rate, and domestic exchange rate on INFOBANK15 price stock during the 2018 – 2022 periods. This study collects data from Indonesia Stock Exchange which can be downloaded from idx.co.id. A quantitative approach to analyze the data and using SPSS as the tools. The result indicate that inflation has no effect to price stock, interest rate and exchange rates gives negative effect to stock prices.

Syafira Salsabilla; Linggar Sekar Kemuning; Dien Noviany Rahmatika

Jurnal Ilmiah Ekonomi, Akuntansi, dan Pajak 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Transfer pricing is a pricing policy for transactions between parties with a special relationship. However, multinational companies often use transfer pricing to reduce the overall taxation of the multinational group. The purpose of this study is to review the literature using the systematic literature review (SLR) method, considering various aspects such as the impact of taxes, tunneling incentives and exchange rates on transfer pricing decisions of manufacturing companies discussed in previous studies. 60 journals from different sources were used in this study. The method used in this study is the SLR method (Systematic Literature Review Method). This study was conducted over several years to provide a performance evaluation. Therefore, this paper conducted a systematic literature review to find out which methods were used to analyze the impact of taxes, tunneling incentives and exchange rates on transfer pricing decisions of manufacturing companies.    

Rissa Aruni Nabillah; Rosewita Akhmellia Putri; Antariksa Dara Nirmala; Yustirania Septiani

Jurnal Manajemen dan Ekonomi Bisnis 2024 Pusat Riset dan Inovasi Nasional

The focus of this research is how exports, exchange rates, and inflation affect Indonesia's economic growth. For 30 secondary data, the Ordinary Least Square (OLS) model is used. The results showed that there was an insignificant positive relationship between exports and economic growth, and that increased export activity could have an insignificant positive effect on economic growth. In addition, the depreciation of the rupiah exchange rate increases the competitiveness of domestic products in the international market, so that the rupiah exchange rate against foreign currencies also has a significant impact on economic growth. However, the results of the study show that inflation also has a negative impact on economic growth. The economy can be disrupted by declining people's purchasing power, stunted investment, and high inflation.

Rivaldo Martadinata Anthonie; Hwihanus Hwihanus

Jurnal Kendali Akuntansi 2024 International Forum of Researchers and Lecturers

This research investigates the impact of macroeconomic fundamentals on financial performance and capital structure, with earnings management and firm characteristics as intervening variables, focusing on manufacturing companies listed on the Indonesia Stock Exchange. The macroeconomic fundamentals analyzed include inflation, exchange rates, GDP, and interest rates, which are hypothesized to affect stock returns. Capital structure is measured by the debt-to-equity ratio and the debt-to-asset ratio. Financial leverage is gauged using the interest coverage ratio and the debt-to-operating income ratio. Firm characteristics encompass the company's age, the number of board commissioners, the number of directors, and the number of audit committee members. Financial performance is evaluated using indicators such as EBIT, DFL, DOL, DPR, asset turnover, and EPS growth. The research employs a quantitative method with data analysis conducted using Smart PLS. The results indicate that financial leverage significantly influences firm characteristics and capital structure but does not significantly impact financial performance. Macroeconomic fundamentals significantly affect firm characteristics but do not significantly impact financial performance, earnings management, or capital structure. Firm characteristics significantly influence financial performance but not earnings management. Capital structure significantly affects earnings management but does not significantly impact financial performance. This study aims to provide insights for decision-makers to enhance company financial performance through effective management of capital structure and earnings management.

Nabilah Qurrotul `Aini; Hwihanus

Jurnal Sistem Informasi dan Ilmu Komputer 2024 International Forum of Researchers and Lecturers

This study aims to investigate the influence of macro fundamental variables (such as inflation, interest rates, and exchange rates), micro fundamental variables (such as DER, DPR, DR), as well as capital structure variables, financial performance, and ownership structure as intervening variables on firm value in the mining sector on the Indonesia Stock Exchange. This study uses a quantitative approach with secondary data from the financial statements of mining companies listed on the Indonesia Stock Exchange for the period 2010 to 2019. Data collection is done by random sampling of these companies, and data analysis uses the SmartPls 4 application to test the relationship between the variables studied. The results of this study are expected to provide a deeper understanding of how macroeconomic and microeconomic fundamental factors, as well as capital structure, financial performance, and ownership structure, contribute to firm value in the context of the mining sector in Indonesia. The practical implications of this study are expected to provide guidance to stakeholders, including company management, investors, regulators, and academics, in optimizing investment strategies and decision-making in this highly potential sector. This research can also make a theoretical contribution in expanding the understanding of the factors that influence firm value in the mining sector

Syifa Aina Nurajizah; Sinta Allena; Ridho Utama; Muhammad Kurniawan

Jurnal Ekonomi dan Keuangan Islam 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This research aims to analyze the influence of exchange rates and inflation on Indonesia's economic growth in the 2014-2023 period. Economic growth data is measured using the Economic Growth Percentage (GDP), while the exchange rate is measured by the Value of USD 1 in Rupiah, and inflation is measured by the Inflation Percentage (General). In this research, the author uses statistical analysis methods to examine the relationship between exchange rates, inflation and economic growth. The data used comes from trusted sources, such as the Central Statistics Agency (BPS) and Bank Indonesia (BI). The research results show that there is a relationship between the exchange rate and Indonesia's economic growth. A high exchange rate tends to have a negative impact on economic growth, because it can cause a decrease in net exports and a decrease in production levels. Apart from that, inflation also has an influence on economic growth. A high level of inflation can cause economic instability and have a negative impact on people's real income. Apart from that, this research also shows that both the exchange rate and inflation have a significant influence on Indonesia's economic growth. This second factor needs to be considered in efforts to advance the economy and achieve optimal economic stability. This research provides a better understanding of the factors that influence Indonesia's economic growth. It is hoped that the results of this research can be a reference for the government and economic actors in taking appropriate policies to accelerate economic growth and maintain economic stability.

Delvi Aprillia; Supentri Supentri

Jurnal Hukum, Pendidikan dan Sosial Humaniora 2024 Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

President Jokowi has announced plans to transfer the nation's capital to the Timur Province. This needs to be carefully considered since it has the potential to be risky but can also provide positive effects. The goal of this endeavor is to stabilize Jakarta's position as a hub for business and government that has long been in decline, as well as to lessen economic tensions between the main island of Java and its neighboring islands. This article will analyze the economic climate as well as the risks that the government must address in this particular endeavor. Qualitative research method is a research method that is carried out with a type of descriptive approach The results of the research obtained are the positive impact as well as the risk of the transfer of IKN to Central Kalimantan on the economy in Indonesia. Even if there are potential for PDB growth and inflation that is moderate, there are risks associated with renovation that should be considered, such as working together with the government to mitigate the risk of exceeding budget while building new infrastructure and cities. In addition, there is a potential inflation rate that is higher than expected due to the change in exchange rates, which is attributed to the DPR RI.

Meri Berliana; Ke-Chung Peng

Botani : Publikasi Ilmu Tanaman dan Agribisnis 2024 Asosiasi Riset Ilmu Tanaman Dan Hewani Indonesia

Shrimp is one of the leading fisheries commodities in Indonesia which is oriented towards international markets with export destinations to some countries. shrimp make a positive contribution to the economy because it generates foreign exchange for the State. This study aims to (1) analyze the percentage growth of the Indonesian shrimp trade in the international market and (2) analyzing the position of competitiveness of Indonesian shrimp in international comparative advantage. This research using time series data in secondary form starting in 1998 until 2017. Data were analyzed using constant market share analysis (CMSA) analyze the percentage growth in Indonesia's shrimp trade in the international market, while to analyze the competitiveness of Indonesian shrimp is the Revealed Comparative Advantage (RCA) comparative advantage approach. The results showed that the factors were significantly affect the growth of the Indonesian shrimp trade viz international shrimp prices, rupiah exchange rates against the dollar and export volume. (1) The growth of Indonesia's shrimp trade can be seen from 1998-2017 with a average percentage of trade growth of 1.5% (2) Based on competitiveness analysis, through Revealed Comparative analysis Advantage (RCA) shows that shrimp export competitiveness Indonesia in the international market has a comparative advantage seen from in 1998-2017 with an average value of RCA> 1 which was 1.04.    

Kardina Siregar; Yuli Ariani; Rusiadi Rusiadi; Suhendi Suhendi; Lia Nazliana Nasution

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This research aims to analyze the influence of financial sector deepening and foreign exchange reserves on currency exchange rates in Indonesia, Malaysia and the Philippines. The variables in this research are exchange rate, GDP, credit interest rates, money supply, foreign exchange reserves. This research uses secondary data taken from WorldBank in 2005-2022. The data analysis technique used is the Autoregressive Distributed Lag (ARDL) panel. The research results from the ARDL model analysis show that the countries that are able to become lead indicators for KURS tariff stability are Indonesia and Malaysia. This is because all the variables or indicators in the research, namely (Foreign Exchange Reserves, GDP, JUB and Credit Interest Rates) in these countries have a significant effect on the KURS, while CDV, GDV and JUB do not have a significant effect on the KURS. in the Philippines, only the SBK variable has a significant effect on the KURS in the Philippines. If we look at short-term and long-term stability, the Unemployment Rate variable, both short-term and long-term, has a significant effect on KURS stability.

Tulus Widjajanto; Adhi Susano; Ambar Tri Hapsari

Jurnal Pajak dan Analisis Ekonomi Syariah 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Export activities in the long term can provide foreign exchange income for the country concerned, which will later be used to increase the growth of the country's economy, finance import needs and domestic development. A study by Kusuma and Twin (2012) concluded that exports had a positive and significant effect on national foreign exchange reserves. Exports are therefore one of the important benchmarks to know how much economic growth is in a country. The fluctuating state of exports in Indonesia is a very important thing to pay attention to. Especially in the face of the era of free trade in the Southeast Asia region or the ASEAN Economic Community (AEC), Indonesia is expected to improve its export performance, so that it can compete with other countries. Then it is necessary to know what factors affect the increase and decrease in the value of Indonesia's exports. From the data processing it is known that interest rates and exchange rates together have a significant effect on total exports with α = 0.00390 < from α = 0.05. Parasially, the Bungan tribe had a negative and significant effect on total exports with a significance value of α = 0.0003 < of α = 0.05, and the exchange rate against the US dollar had a positive and significant effect on total exports with a significance value α = 0.0130 < of α = 0.05.

Devita Eka Yuniar Wulandari; Ustadus Sholihin; Edi Murdiyanto

Jurnal Ekonomi dan Keuangan Islam 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to determine whether there is an influence of the variables of inflation, interest rates, and exchange rates on stock prices in metal sub-sector companies and the like listed on the Indonesia Stock Exchange for the period 2016 - 2021. The population in this study were all metal sub-sector companies and the like as many as 16 companies, then the researchers used a sampling technique using purposive sampling method. The results of this study indicate that the probability value of the inflation variable of 0.1955 is greater than the significant value of 0.05 so that inflation has no partial effect on stock prices. The interest rate variable has no significant effect partially on stock prices where the probability value of 0.2426 is greater than the significant value of 0.05. The exchange rate variable has a partially significant effect on stock prices where the probability value of 0.0247 is smaller than the significant value of 0.05. Inflation, interest rate, and exchange rate variables together have a significant effect on stock prices where the F-statistic probability value of 0.000 is smaller than the significant value of 0.05.

Cahya Adetrya; Hendra Ibrahim

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2023 FEB Universitas Maritim Semarang

International business is a business activity carried out between countries by carrying out export and import activities. International trade is the exchange of goods and services across international borders. This usually comes with additional risks caused by changes in exchange rates. The purpose of this analysis is to find out about the influence of international business on Indonesia. In this type of research the author uses descriptive research and collects information and analyzes data using secondary data. From this analysis, it can be seen the influence and impact of international business on Indonesia.

Mia Nurmalia; Yunita Indah Saputri; Vanio Bagas Saputra; Dania Dwi Rinita; Endang Kartini Panggiarti

Jurnal Manajemen Kreatif dan Inovasi 2023 International Forum of Researchers and Lecturers

Accounting for foreign currency transactions is an important aspect in the scope of corporate finance, especially in the context of business globalization. PSAK 10 (Statement of Financial Accounting Standards) regulates this aspect and provides guidelines on how companies should account for transactions in foreign currencies as well as related financial reporting. This research explores the implementation of PSAK 10 in preparing financial reports, with a focus on foreign currency transactions. In PSAK 10, companies are directed to use the foreign currency exchange rate on the transaction date to measure transactions in foreign currency. In addition, significant changes in foreign currency exchange rates after the transaction date are also taken into account and recognized as exchange gain or loss. A deep understanding of the application of these provisions is crucial so that financial reports accurately reflect the company's financial position. Through literature research and analysis of accounting practices, this article investigates how companies effectively manage foreign currency risks and present relevant and reliable information in their financial reports. A comparison between the methods used by companies in implementing PSAK 10 and best practices in the industry is explained to provide a comprehensive picture. It is hoped that the results of this research will provide in-depth insight into the challenges, opportunities and best policies in dealing with foreign currency transactions based on PSAK 10. The practical implications of compliance with this standard, as well as the potential impact on corporate financial decisions, will also be reviewed. With a better understanding of foreign currency transaction accounting, companies are expected to improve the quality and credibility of their financial reports in an ever-expanding global market.

Nisa Anindyasari; Nabila Septiana Putri; Sani Andriani Nurwafiyah

Jurnal Manajemen Kreatif dan Inovasi 2023 International Forum of Researchers and Lecturers

The aim of this research is to analyze the treatment of foreign exchange differences at PT. Elang Mahkota Teknologi Tbk (EMTK), focusing on transaction management, the use of functional currency, and exchange rate risk mitigation. The research method employed is qualitative, with PT EMTK as the research subject. Data was obtained through literature review, referring to the Annual Reports of PT EMTK. The study indicates that PT EMTK adopts a cautious approach in handling foreign exchange transactions. The majority of business units use the Indonesian Rupiah as the functional currency, and the monetary assets and liabilities are adjusted to the exchange rates at the reporting date. Despite the absence of an official hedging policy, the company still considers current market conditions, especially regarding cash and cash equivalents balances in USD. Additionally, the research reveals that PT EMTK conducts sensitivity analysis on exchange rate risk, measuring the impact of exchange rate fluctuations on pre-tax profits. Overall, the company diligently monitors foreign exchange rate risks and takes proactive measures against external factors that may affect financial performance.

Muna Jihan; Lintang Woro; Risma Ajeng

Jurnal Kendali Akuntansi 2023 International Forum of Researchers and Lecturers

The aim of this research is to find out how differences in exchange rates and foreign currency transactions apply to PT Indofarma Tbk and its subsidiaries. This research uses qualitative methods by collecting data sourced from the Company's website, journals and related articles. Based on this research, PT Indofarma Tbk and Subsidiaries have a difference between the exchange rate or exchange rate which occurs due to debt accruals, purchasing medical equipment and imported raw materials.    

Aditya Utami Wulandari; Shafa Inas Syahputri; Revi Nur Aziza

Jurnal Kendali Akuntansi 2023 International Forum of Researchers and Lecturers

This research aims to conduct research on the company PT Triputra Agro Persada Tbk (TAPG) regarding analysis of the treatment of exchange rate differences and foreign currency transactions. PT TAPG Tbk is involved in complex foreign currency transactions, including the treatment of exchange rate differences that affect the company's financial condition. This study used qualitative research methods. The method applied in collecting information and data in this research is literature study, which involves analysis of journals and books as well as related references to support the research being carried out. This research uses the PT TAPG Tbk Q1 2023 Financial Report as well as a news article from Beritasatu.com entitled “Jaga Arus kas, Triputra Agro Percepat Pembayaran Utang” as data sources. The results of this research indicate that PT TAPG Tbk can minimize the risk of changes in foreign exchange rates and provide further understanding of the complex relationship between currency exchange rates and CPO selling prices as well as risk management in company operations.

Muhammad Agustian Sakha; Heni Nur Anggraeni; Novia Amandha; Endang Kartini Panggiarti

Jurnal Kendali Akuntansi 2023 International Forum of Researchers and Lecturers

Accounting pays close attention to aspects of foreign currency transactions and adjustments to the functional currency that impact financial statements. PSAK 10 is the main guideline in regulating changes in foreign exchange rates and affecting businesses. A good understanding of PSAK 10, functional currency, and foreign currency transactions is crucial for business entities, especially those operating in a foreign currency economic environment. The case study used in this research is descriptive qualitative with literature review method. Research that characterizes research subjects based on emerging facts is known as descriptive qualitative research. The results of the research on the case study of PT Dianta Mitrafairindo Internasional highlighted the significant role of foreign exchange transactions in the company's operations, with management seriously implementing proper accounting processes, dealing with foreign exchange differences, and recording them thoroughly. Despite a loss in 2018, the company managed to record a profit in 2019, demonstrating its seriousness and commitment in managing foreign exchange risks. Overall, PT Dianta Mitrafairindo Internasional demonstrated accuracy, vigilance, and a strong commitment to foreign exchange-related accounting aspects in the context of its global business.    

Toni Ong; Yandi Suprapto; Nico Fernando; Vanness Kangnanda

Jurnal Manajemen Kreatif dan Inovasi 2023 International Forum of Researchers and Lecturers

International trade is trade carried out between countries by carrying out export and import activities. International trade is the international exchange of goods and services across international borders. This is usually accompanied by the added risk of changes in exchange rates. The purpose of this analysis is to determine the influence of international trade on Indonesia, where the author uses descriptive research and collects information and analyzes data using secondary data. From this analysis, it can be seen the impact of international trade and its impact on Indonesia

Aas Ariska; Alfi Nihayatul Rohmah; Agus Eko Sujianto

CiDEA Journal 2023 Universitas 17 Agustus 1945 Semarang

Over time, Islamic banking is growing more rapidly, this phenomenon also affects the economic system in Indonesia. This study aims to determine the effect of inflation and exchange rates on mudharabah financing in Islamic banking in Indonesia. This research is a quantitative study using time series data. The data used is secondary data obtained from the official website of Bank Indonesia (BI) and the Central Bureau of Statistics (BPS). The samples used in this study are inflation, exchange rates and mudharabah which are annual historical data starting from 2013-2021. The data analysis technique is using multiple regression analysis with the Ordinary Least Square (OLS) method. This study shows the results that inflation has a significant negative effect on mudharabah financing. Meanwhile, the exchange rate does not have a significant effect on mudharabah financing.