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Desak Made Sukarnasih; Desak Ayu Sriary Bhegawati

International Journal of Economics and Accounting 2024 International Forum of Researchers and Lecturers

This study aims to analyze the influence of macroeconomic factors consisting of inflation, rupiah exchange rate, and interest rates on stock returns of manufacturing companies listed on the Indonesia Stock Exchange during the period 2021-2023. The research method uses a quantitative approach with multiple linear regression analysis. The research sample consists of manufacturing companies listed on IDX during the research period, selected using purposive sampling method. The results show that among the three macroeconomic factors studied, only the rupiah exchange rate has a significant influence on the stock returns of manufacturing companies. This is due to the characteristics of the manufacturing industry which has a high dependence on imported raw materials, so that exchange rate fluctuations directly affect the company's financial performance and stock returns. Meanwhile, inflation and interest rates did not show a significant effect on stock returns of manufacturing companies during the study period.

Fredean Fahenzi Kholid; Elyanti Rosmanidar; Eja Armaz Hardi

Jurnal Inovasi Ekonomi Syariah dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

In this research. conducted a study Analysis of Factors Affecting the Performance of Fixed Income Mutual Funds Sharia in Indonesia for the 2019-2023 Period. In this study using Quantitative methods and the data analysis method used is Multiple Linear Regression. Research results The results showed that inflation, exchange rates, and interest rates gave a negative significant value, so it does not contribute well to sharia fixed income mutual funds, while the money supply has a positive effect. while the amount of money in circulation has a positive effect on sharia fixed income mutual funds. The results of the calculation of the coefficient of determination shows that 43.1% of the value of Islamic fixed income mutual funds is influenced by inflation, exchange rates, money supply and interest rates.

Wardah Yuni Kartika; Raju Pratama; Ibnu Majjah Arifin; Alhamida Alhamida; Wismanto Wismanto

Jurnal Mahasiswa Kreatif 2024 International Forum of Researchers and Lecturers

Hawalah is a debt transfer method that originates from Islamic traditions and is increasingly relevant in the modern business context, especially in international transactions. The background of this research focuses on the importance of understanding and executing effective hawalah to overcome the challenges faced by business actors, such as multiplying exchange rates and payment risks. The aim of this research is to explore the implementation of hawalah in business and identify the factors that influence its effectiveness. The research method used is a qualitative approach, with data collection through in-depth interviews with business people and document analysis from related literature. The research results show that a deep understanding of the hawalah mechanism is very necessary, and information technology support has been proven to increase transaction efficiency and transparency. However, challenges related to data security and the lack of clear regulations are still obstacles. The discussion underscored the importance of education, collaboration with trusted financial institutions, and building trust between the parties involved in the transaction. Overall, hawalah has great potential to support economic growth, especially for small and medium businesses, with the right strategy and in-depth understanding. It is hoped that this research can contribute to the development of knowledge and business practices in the field of sharia economics.

Ahmad Fadlan; Rahmad Sembiring; Ira Gretti Hutagalung

International Journal of Economic, Social and Development Sciences 2024 International Forum of Researchers and Lecturers

The money supply can affect other economic variables, such as output and prices, create stability in the economy and help achieve the ultimate goal of monetary policy, namely the stability of inflation and exchange rates.  The level of the exchange rate by the monetary authority must be kept stable because an unstable exchange rate, especially one that experiences a sharp depreciation, can have financial crisis implications. This research approach was associative/quantitative research. The data used in this study are secondary data taken and processed from Bank Indonesia (BI) and the Central Statistics Agency (CSA) from 2013-2023 (11 years). Based on the results of regression analysis shows that the variable money supply, exchange rates, and interest rates simultaneously affect the inflation variable. Based on the results of regression analysis shows that the variable money supply has a positive and significant effect on inflation. Based on the results of regression analysis, the exchange rate variable has a negative and significant effect on inflation. Based on the regression analysis, the interest rate variable has no statistical effect on inflation.

Farid Maulana; Maziyah Farhah; Elmesie Berlentie; Rasidah Novita Sari

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

The development of the National Capital City (IKN) triggers an increase in demand for goods and services, especially in the construction and basic needs sectors, which can cause a spike in regional and national inflation. Monetary policy faces new challenges, including increasing interest rates and the risk of rupiah exchange rate volatility due to dependence on foreign debt financing. These projects also influence economic distribution, creating investment opportunities, but potentially increasing economic inequality. This research emphasizes the importance of coordination between monetary and fiscal policies to mitigate negative impacts on national economic stability.

Boy Dippu Tua Simbolon; Kezia Thasa Emteta Karina Bangun; Reh Bungana Br PA; Maulana Ibrahim

Jurnal Relasi Publik 2024 International Forum of Researchers and Lecturers

The concept of criminal responsibility in national criminal law is the main basis for determining sanctions or punishment for violations of criminal law. In the future era, criminal responsibility is expected to continue to develop and adapt to developments in society, technology and existing legal values. In facing the future, the concept of criminal responsibility is expected to become more progressive, fair and in line with the demands of social justice. Improving the quality of punishment and the effectiveness of the criminal justice system needs to be the main focus, taking into account the principles of human rights, protection of minorities and restorative justice. In addition, the importance of a preventive approach in national criminal law will be increasingly emphasized. Efforts to prevent criminal acts through education, rehabilitation and community empowerment are expected to reduce crime rates and create a safer environment. In the context of globalization, collaboration between countries in tackling cross-border crime needs to be strengthened. International agreements on extradition, exchange of information, and harmonization of criminal law can be strategic steps to increase the effectiveness of law enforcement. By updating the concept of criminal responsibility in national criminal law, it is hoped that a legal system that is adaptive, responsive and can better respond to future challenges can be created. In this way, security and justice in society can be more optimally maintained, in line with the main objective of criminal law to create order and protection for all citizens.  

Marwa Allawi Naji

International Journal of Economics and Accounting 2024 International Forum of Researchers and Lecturers

This research seeks to illustrate the effects of rate of exchange volatility on Iraq's trade balance .The report examines currency rates in Iraq from 2010 to 2022, including both official and parallel values. The study addresses the trade balance, encompassing exports and imports, and investigates the impact of exchange rate fluctuations on trade performance through the ARDL model. It demonstrates a direct relationship between the two variables and confirms the absence of autocorrelation issues. Formulating a series of results and recommendations.

Anak Agung Istri Prami Suari Pemayun; Anak Agung Bagus Putu Widanta

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

Crude Oil, which has long been a mainstay sector in Indonesia's exports, contributes greatly to state revenue, thus driving the pace of national economic growth. In the context of the Indonesian economy, the crude oil industry plays an indispensable role, especially over the past few decades. This study aims to identify the factors that affect the volume of Indonesia's crude oil exports to nine main destination countries—including Japan, South Korea, China, Thailand, Singapore, Malaysia, Australia, the United States, and Taiwan—in the period from 2003 to 2022. Some of the variables analyzed include exchange rates, foreign investment, production, and world oil prices. Through the regression analysis method of panel data, the results of this study indicate that simultaneously, exchange rates, foreign investment, production, and world oil prices have a significant effect on Indonesia's crude oil exports to these countries. Separately, the world exchange rate and oil price variables had a significant negative influence on Indonesia's crude oil export volume, while the foreign investment and production variables showed a positive and significant influence on export volume during the 2003-2022 research period.

Nauva Safitri; Ni Ketut Enik Fitalia; Nina Fitriani; Rieska Dian Uthami; Novia Rizki

Jurnal Kendali Akuntansi 2024 International Forum of Researchers and Lecturers

This research is motivated by the need for PT Sumi Indo Kabel Tbk to manage foreign currency transactions in line with the increase in international trade and exchange rate fluctuations. Foreign currency transactions can affect the company's financial statements, especially in the recognition of profit or loss due to changes in exchange rates. The purpose of this study is to analyze the application of foreign currency transaction accounting at PT Sumi Indo Kabel Tbk based on Statement of Financial Accounting Standards (PSAK) 221 on the Effect of Changes in Foreign Exchange Rates. The research method used is descriptive quantitative, using secondary data obtained from the company's annual financial statements. The results showed that PT Sumi Indo Kabel Tbk has implemented PSAK 221 properly, recorded foreign currency transactions at the prevailing exchange rate and recognized the exchange difference in the income statement. However, the company still faces the risk of significant exchange rate fluctuations, which requires a more comprehensive risk management strategy. The conclusion of this study is that consistent implementation of PSAK 221 can help companies improve the transparency of financial statements and reduce the negative impact of exchange rate fluctuations on financial performance..

Ahmad Fadlan; Rahmad Sembiring; Ira Gretti Hutagalung

International Journal of Islamic and Economic Education 2024 International Forum of Researchers and Lecturers

The money supply can affect other economic variables, such as output and prices, create stability in the economy and help achieve the ultimate goal of monetary policy, namely the stability of inflation and exchange rates.  The level of the exchange rate by the monetary authority must be kept stable because an unstable exchange rate, especially one that experiences a sharp depreciation, can have financial crisis implications. This research approach was associative/quantitative research. The data used in this study are secondary data taken and processed from Bank Indonesia (BI) and the Central Statistics Agency (CSA) from 2013-2023 (11 years). Based on the results of regression analysis shows that the variable money supply, exchange rates, and interest rates simultaneously affect the inflation variable. Based on the results of regression analysis shows that the variable money supply has a positive and significant effect on inflation. Based on the results of regression analysis, the exchange rate variable has a negative and significant effect on inflation. Based on the regression analysis, the interest rate variable has no statistical effect on inflation.

Fauzia Bakhtiar; Anggi Somba Poddala; Miftha Farild; Wahyudi Wahyudi

International Journal of Entrepreneurship and Management 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Exchange rate is defined as the currency that can be exchanged per unit to another currency, or the price of one currency to another currency. The purpose of this study is to determine the effect of inflation, interest rates and investment on exchange rates in five ASEAN countries, namely Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The variables used in this study are exchange rates, inflation, interest rates and investment as moderating variables. Data sources come from World Development Indicators and Investing.com. The analysis used is multiple linear analysis with the help of SPSS 22 software. The results of this study indicate that inflation and interest rates have no effect on investment. In addition, inflation, interest rates and investment have no effect on exchange rates in five ASEAN countries. Then, the effect of inflation and interest rates on exchange rates through investment also does not have a significant effect.

Nonius Apriliano; Hannaan Nabih Krisna; Zahra Radhina; Anna Charlita Lay

Jurnal Manajemen dan Ekonomi Bisnis 2024 Pusat Riset dan Inovasi Nasional

Inflation is a complex economic phenomenon and has a broad impact, including on a country's import policy. When inflation occurs, domestic prices of goods and services increase, thereby increasing production and consumption costs. As a result, producers must increase product prices to maintain profit margins, which can reduce domestic demand and increase demand for imports because local prices become more expensive than imported goods. In addition, inflation also weakens the value of a country's currency, increases the demand for foreign exchange to pay for imports, and worsens the exchange rate. Countries with high inflation rates often experience trade deficits due to a surge in imports and a decline in exports, which in turn depletes foreign exchange reserves because they are needed to pay foreign debt and import goods that are needed but can no longer be exported. To overcome inflation, countries can adjust their strategies. import with more effective measures. Several steps that can be taken include: (1) Optimizing the Import List, namely prioritizing essential goods that are difficult to re-export; (2) Negotiation of Import Tariffs, with the aim of reducing import costs and increasing trade flexibility; and (3) Investment in the Local Manufacturing Sector, in order to reduce dependence on imports and increase domestic competitiveness. With this strategy, import policies can be anticipated and prepared proactively to be more effective in dealing with inflationary conditions. This abstract discusses the impact of inflation on import policies and strategies to deal with it, such as optimizing import lists, negotiating import tariffs, and investing in the local manufacturing sector.

Iftikhar Jabbar Abed; Safa Mahdi Raji; Sahar Jabbar Rahman

Jurnal Ekonomi dan Pembangunan Indonesia 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The purpose of the current research is to reveal the impact of credit derivatives by (purchased credit derivatives, the value of credit derivatives sold) in hedging the risk of non-payment at a sample of commercial banks in the Iraq Stock Exchange by (Middle East Bank, Gulf Commercial Bank, Trade Bank of Iraq, Bank of Baghdad, Credit Bank) for the financial period from (2016-2020), and for the purpose of analyzing the results, the Office package was adopted (Excel.V.2016) in order to extract the level of credit derivatives,  And the risks of non-payment at the commercial banks surveyed, has been using a set of statistical methods to determine these variables, represented in (credit derivatives, arithmetic mean, correlation coefficient, and regression coefficient), as a result, the research came out with a set of results, foremost of which was that there is an effect of credit derivatives in hedging the risks of non-payment, and this shows that credit derivatives contribute to improving the ability to hedge against non-payment risks, allowing investors to reduce financial risks. The focus of the surveyed commercial banks on the use of credit derivatives to protect investors from fluctuations in interest rates and currency rates, which works to reduce the impact of non-payment risks on their profits, which means that these contracts allow the determination of a future price for financial assets.

Nuri Rahayu Ningsih; Andria Zulfa; Bakhtiar Efendi; Lia Nazliana Nasution; Rusiadi Rusiadi

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

Using a quantitative approach, this study investigates the effect of port export and import volumes on economic growth in North Sumatra and West Sumatra Provinces. Time series data from the World Bank and the Central Statistics Agency (BPS) from 2006 to 2023 are used as secondary data. The analysis uses the ARDL Panel model, which allows for analysis of data dynamics across time and regions. The results show that the three main indicators that affect economic growth (GRDP) in both provinces, both in the short and long term, are export volume, inflation, and exchange rates. In North Sumatra, export volume has a positive impact on GRDP, while import volume has a negative impact, indicating a risk of dependence on imports. Controlled inflation also has a positive impact, while the exchange rate shows a diversion. Policy recommendations are expected to improve global competitiveness and exchange rate stability through coordination of fiscal and monetary policies, support for the Export Capacity Building Program and MSMEs through the Regional Comprehensive Economic Framework (RCEP), and export diversification to reduce dependence on certain commodities. This study emphasizes that policies that are responsive to changes in trade at the national to international levels are an important foundation for stabilizing sustainable economic growth.

Miftha Farild; Anggi Somba Poddala; Azizah Saban

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

This study aims to determine and analyze stock prices by looking at the direct and indirect effects between inflation, interest rates, exchange rates, ROA and stock prices in Islamic Banks in Indonesia. This study uses panel data regression with variables of inflation, interest rates, exchange rates, ROA, and stock prices with data analysis using SPSS 22 software. The period of this study is 2020-2022. The results of this study indicate that inflation, interest rates, and exchange rates are significant to ROA. Inflation and ROA are directly significant to stock prices. Meanwhile, interest rates and exchange rates directly have no effect on stock prices. For the indirect relationship between inflation, interest rates, and exchange rates affect stock prices through ROA.

Ni Putu Kania Putri; Ni Luh Karmini

Gemawisata: Jurnal Ilmiah Pariwisata 2024 Sekolah Tinggi Ilmu Ekonomi Pariwisata Indonesia

Wheat is one of the food commodities consumed by the Indonesian people. The need for wheat in Indonesia from year to year tends to increase but is almost entirely met through imports and makes Indonesia one of the world's largest wheat importers. Dependence on food commodities from the import side has a huge risk for national food security because in addition to the increasingly limited foreign exchange owned, there is also uncertainty in terms of quantity and price. The purpose of this study is to find out the factors that affect wheat imports in Indonesia. The variables in this study are foreign exchange reserves, international wheat prices, domestic rice prices, and the US dollar exchange rate. This study uses secondary data with a quantitative approach using 34 data. Data analysis techniques using descriptive statistical analysis and multiple linear regression analysis. The results of this study show 1) Foreign Exchange Reserves, International Wheat Prices, Domestic Rice Prices, and the US Dollar Exchange Rate simultaneously have a positive and significant effect on the Volume of Wheat Imports in Indonesia, 2) Foreign Exchange Reserves partially have a positive and significant effect on the Volume of Wheat Imports in Indonesia, 3) International Wheat Prices partially have a negative and significant effect on the Volume of Wheat Imports in Indonesia, 4) Domestic Rice Prices and the US Dollar Exchange Rate have no significant effect on the Volume of Wheat Imports in Indonesia.

Anwer Mezher Hamdaullah Al-Adhimi

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This research aims to investigate whether the exchange rates and inflation in Iraq have a long-term equilibrium relationship or not. A dataset of exchange rates and inflation from 2000 to 2020 was used. Johansen’s cointegration test was employed to confirm that there is a long-term correlation between these variables. The Vector Error Correction Model (VECM) was utilized, along with Granger causality tests, to understand the long and short run connections and to determine if the causality flow is bidirectional or unidirectional. The results provided proof of a long-run equilibrium connection among inflation and rates of exchange, with strong evidence of a unidirectional causal flow from rates of exchange to inflation in Iraq.

Muaamal Hussein Jwesim; Ghufran Shallal Mohammed

International Journal of Economics and Accounting 2024 International Forum of Researchers and Lecturers

This research attempted to analyze the impact of financial and economic shocks in a number of developing countries that are similar in terms of the size of the economy and the diversity of its economic structure, as well as the similarity in the quality of the exchange systems used to demonstrate the extent of the monetary authorities’ ability to target inflation in light of the occurrence of shocks of various types and forms during the research period, in addition to This is an indication of the extent of the diversity of the economy and its connection to those shocks, as the oil sector constitutes a large portion of the gross domestic product of the countries of the research sample, with this being lower for the Emirati economy, and this matter made the Iraqi economy to be more affected by the economic crises and shocks that occurred during the period of the study compared to other economies. Saudi Arabia and the Emirates, where the Saudi economy comes in second place in terms of being affected by these shocks, followed by the Emirati economy, which had the least impact. The research variables (inflation, public revenues, and gross domestic product) were also closely linked to the occurrence of both positive and negative financial and economic shocks. When countries face a positive economic shock, the economic situation in the sample countries improves, and the research variables tend to increase, and vice versa when those countries face a shock. Negative, taking into account the varying rates of impact and response, especially with the UAE economy.

Irma Ismawati; Syarwani Canon; Fitri Hadi Yulia Akib

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

The phenomenon of poverty often occurs in every country, especially in developing countries. The level of poverty in a country depends on two main factors, namely the average level of national income and the width of the income distribution gap. Poverty cannot only be measured through income national per capita because per capita income calculates the average income of people in a country. The high level of per capita national income in a country, if the distribution of income is unequal then the level of poverty in that country cannot be avoided, and vice versa, no matter how equal the distribution of income in a country is, if the average level of national income is low, then poverty will also become more widespread. This research aims to determine the effect of minimum wages, farmer exchange rates, and inflation in the primary sector, secondary sector and tertiary sector on poverty on the island of Java. This research uses quantitative research methods using secondary data sourced from the Central Statistics Agency (BPS), using panel data analysis techniques.  In this research, it was found that economic factors such as the Provincial Minimum Wage (UMP), Farmer Exchange Rate (NTP), and the inflation rate had a significant influence on the poverty level on the island of Java in the 2017-2022 period.

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