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Ari Sony

Sinov : Media Informasi Penelitian Kabupaten Semarang 2026 Badan Perencanaan Pembangunan, Riset dan Inovasi Daerah Kabupaten Semarang

Semarang Regency holds a strategic geographical position as a transit hub along the Semarang–Solo–Yogyakarta corridor, supported by diverse tourist attractions and strong economic performance. Despite recording 744,659 domestic tourist movements in March 2026 based on Mobile Positioning Data, the regency failed to enter the top ten most-visited destinations in Central Java during the 2026 Lebaran holiday, with only 139,816 visits recorded at its ten leading attractions. This yields an indicative conversion rate of approximately 18.8 percent at the Lebaran peak, meaning more than 80 percent of movements passing through the regency did not translate into recorded tourism visits. This study employs a descriptive quantitative method supported by explanatory qualitative analysis (sequential explanatory mixed methods), triangulating four secondary data sources to identify the competitive gap, analyze conversion disparities, and formulate improvement strategies toward Lebaran 2027. Findings indicate that the primary drivers of low conversion are the transit-only behavior of the majority of visitors and accessibility constraints at the Bawen–Ambarawa–Bandungan corridor. The study recommends four priority strategies: integrated single-window digital data management via Application Programming Interface; private-vehicle-based traffic and access management; four anchor-themed festival clusters across 14 sub-districts; and the formalization of Pangsar Sudirman Night Market and Kuda Lumping Festival as official tourism events. Achieving the minimum target of 203,458 visits to enter the top ten requires an increase of at least 63,642 visits (approximately 45 percent above the current recorded baseline).

Stradivary Maulida Firdaus; Hendrastuti Ikasari; Hanum Masyitalia; Wiwin Sulistyowati

Sinov : Media Informasi Penelitian Kabupaten Semarang 2026 Badan Perencanaan Pembangunan, Riset dan Inovasi Daerah Kabupaten Semarang

One of the key sectors driving regional economic growth which boosts local revenue, creates jobs, and fosters regional development is tourism. This study aims to analyze the state of human resources (HR) in the management of tourist attractions in Semarang Regency and to formulate strategies for their improvement. The method used is qualitative descriptive research through observation, interviews, and documentation, with analysis employing the Human Capital Index (HCI) and SWOT analysis. The results indicate that destination facilities are generally adequate, but service quality and the availability of information remain suboptimal. An HCI score of 2.84 (moderate category) indicates that HR capacity, competence, and development still need to be improved. Therefore, HR strengthening strategies are needed through capacity building, competency-based training, and performance management enhancement to improve service quality and destination competitiveness.

Akhzdor, Abdaniel Aulasamai; Kusumastuti, Anie Eka

JAPSI (Journal of Agriprecision and Social Impact) 2026 CV. Komunitas Dunia Peternakan

Cattle farming plays a strategic role in rural economic development by generating employment, supplementary household income, and contributing to food and nutritional security. However, in Indonesia, most smallholder cattle enterprises remain traditional and small-scale, leading farmers to treat livestock farming primarily as a secondary livelihood. While previous studies have largely focused on technical adoption and production performance, limited attention has been given to farmers’ psychological interest as a foundation for sustaining livestock enterprises. Therefore, this study aims to analyze the level of community interest in cattle farming and examine the influence of farmers’ characteristics (age, education level, herd size, number of family dependents, farming experience, and primary income) on such interest. A quantitative survey was conducted involving 34 cattle farmers in Taji Village, Jabung District, Malang Regency, selected using total sampling. Data were collected through structured questionnaires and analyzed using multiple linear regression. The findings reveal that community interest in cattle farming is generally high, as reflected in emotional (3.93), cognitive (3.81), and conative (3.74) dimensions measured on a four-point Likert scale. Regression results indicate that age has a significant positive effect (p = 0.022), whereas farming experience has a significant negative effect (p = 0.025) on interest levels. Other variables show no statistically significant influence. These findings highlight that psychological engagement in cattle farming is shaped more by demographic and experiential factors than by formal education or income level. The study contributes to the literature by positioning interest as a psychological determinant of livestock sustainability. Policy implications emphasize the urgency of risk-mitigation extension programs to address farmer burnout, incentivized intergenerational knowledge transfer, and cooperative-based institutional support to ensure smallholder livestock sustainability.

Ikke Adelia Amanda; Muhammad Yasin

Jurnal Pajak dan Analisis Ekonomi Syariah 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Exports as a component of international trade contribute significantly to the development and growth of a country’s economy. In Indonesia, export activities are considered one of the key drivers in increasing national economic performance. This research seeks to evaluate the role of Indonesia’s exports to the United States within the Harmonized System (HS) Code 71 commodity classification, encompassing pearls, gemstones, precious metals, and jewelry products, in influencing Indonesia’s economic growth as reflected by Gross Domestic Product (GDP) at constant prices.The analysis focuses on three specific commodity groups: Pearls and Precious Stones (HS 71.01–71.05), Precious Metals and Metals Clad with Precious Metals (HS 71.06–71.12), and Jewelry and Related Articles (HS 71.13–71.18). A descriptive quantitative research design was employed, utilizing secondary time-series data collected for the 2015–2024 period. Data sources included the Indonesian Central Bureau of Statistics (BPS) and Trade Map. To assess the relationship between variables, this study adopted multiple linear regression analysis accompanied by classical assumption testing and hypothesis testing using both t-test and F-test procedures. The empirical findings demonstrate that export performance within the HS Code 71 category underwent considerable fluctuations throughout the observation period, reaching its peak in 2024.Furthermore, the statistical results indicate that each commodity sub-category contributes differently and exerts varying effects on Indonesia’s real GDP, both individually and collectively. The outcomes of this research are expected to provide useful references for government institutions in developing trade cooperation strategies and policy decisions, while also supporting business actors in strengthening the international competitiveness of Indonesian products.

Sri Indri Oktavian; Heidi Siddiqa

JURNAL EKONOMI BISNIS DAN MANAJEMEN (JISE) 2026 CV. ALIM'SPUBLISHING

The purpose of this study is to analyze the influence of Corporate Social Responsibility (CSR), Financial Distress, and Altman Z-Score on Dividend Decisions in automotive sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2025 period. This study is motivated by fluctuations in the Dividend Payout Ratio (DPR) in the automotive sector, which indicates changes in company dividend policy due to economic conditions, financial performance, and non-financial factors that influence management decision-making. The research method used is a quantitative approach with a causal associative research type to examine the relationship between the independent and dependent variables. The study population consists of automotive sector companies listed on the IDX, while the sample was determined using a purposive sampling technique based on certain criteria. Research data were obtained from annual reports and company financial statements for the 2020–2025 period. Data analysis was carried out using the Dividend Payout Ratio (DPR) as a proxy for dividend decisions and statistical testing to determine the effect of CSR, Financial Distress, and Altman Z-Score on company dividend, the data were processed using SPSS.

Indah Nofita Sari; Romzatul Widad; Moh. Idil Ghufron

JURNAL MANAJEMEN DAN BISNIS EKONOMI 2026 Institut Teknologi dan Bisnis (ITB) Semarang

This study examines the implementation of Environmental, Social, and Governance (ESG) principles as a sustainability instrument for consumer cooperatives from the perspective of Islamic economics. Consumer cooperatives, as people-based economic institutions, face significant challenges in maintaining sustainability amid rapid economic transformation and increasing demands for corporate accountability. ESG, as a global framework for measuring sustainability performance, is considered relevant to the values of Islamic economics which emphasize justice, transparency, social benefit, and environmental responsibility. This research uses a qualitative approach through literature study and document analysis to formulate a conceptual model of ESG implementation in consumer cooperatives based on Islamic economic principles. The findings show that ESG dimensions are in line with maqashid al-syariah, namely the protection of religion, life, intellect, lineage, and property. Environmental aspects correlate with the stewardship principle of khalifah fil ardh, while social aspects align with the concept of takaful ijtima’i, and governance reflects the values of amanah and shura. This study offers a conceptual framework for integrating ESG within the cooperative institutional governance system as a strategic step toward sustainable and equitable economic development.

Halimah Halimah; Defina Alfiyanti; Serly Amelika Putri; Muhamad faozi alrizki; Falah Alkautsar +6 more

Maslahah : Jurnal Manajemen dan Ekonomi Syariah 2026 STAI YPIQ BAUBAU, SULAWESI TENGGARA

This study aims to evaluate the level of sharia compliance in musyarakah contracts within micro-enterprise financing. Musyarakah is a partnership-based financing contract that emphasizes cooperation, profit-sharing based on an agreed ratio (nisbah), and proportional risk sharing in accordance with each party’s capital contribution. In practice, the implementation of musyarakah contracts in micro-enterprise financing must be assessed against the Fatwa of the National Sharia Council–Indonesian Ulema Council (DSN-MUI), principles of fiqh muamalah, and Islamic banking regulatory frameworks in Indonesia. The findings show that the implementation of musyarakah working capital financing in Islamic banking is generally in the good category. However, two non-compliance issues with sharia principles were identified. First, there is an imbalance in work participation, where the business is fully managed by the customer while the bank only provides supervision and guidance without active involvement, whereas active participation of partners is a fundamental principle of musyarakah. Second, there is an element of riba due to the use of a fixed profit-sharing scheme, even though profits in musyarakah should be uncertain and based on actual business performance. The study implies that Islamic banks need to improve musyarakah implementation to ensure full compliance with DSN-MUI fatwas, particularly in terms of active bank participation and non-fixed profit-sharing arrangements. Properly implemented, musyarakah financing can strengthen micro and small enterprises by promoting justice-based and risk-sharing economic cooperation.

Audrey, Reinaldo Evan; Putra Mbulu, Bernadus Crisanto; Jalu Permana, Antonius Prisma

Mechanical, Energy and Material (METAL) 2026 Universitas Katolik Widya Karya Malang

Carburizing is one of the most widely applied thermochemical surface treatments to enhance the mechanical performance of steels; however, existing studies remain fragmented, with limited integration of diffusion mechanisms, process parameters, and their combined effects on surface performance, which hinders process optimization for advanced applications requiring improved wear and corrosion resistance. This study addresses this gap through a systematic literature review (SLR) of approximately 28 peer-reviewed articles indexed in Scopus and ScienceDirect, using a structured methodology consisting of identification, screening, eligibility assessment, and comparative analysis focusing on key variables such as temperature, holding time, carburizing media, and diffusion behavior. The analysis shows that carbon diffusion kinetics and case characteristics are strongly influenced by process parameters, where temperatures of 850–950°C and longer holding times significantly increase case depth (up to >1 mm) and surface hardness (typically 50–65 HRC or improvements up to ~150 HV). In addition, clear distinctions among carburizing methods were identified: gas and vacuum carburizing offer superior control of carbon potential and microstructural uniformity, while pack and liquid carburizing provide more economical alternatives with lower process precision. Notably, inconsistencies were found in correlating diffusion depth with corrosion resistance, indicating a critical research gap. This review establishes an integrated framework linking diffusion mechanisms, processing parameters, and surface performance, offering insights for optimizing carburizing processes and highlighting the need for future studies that simultaneously evaluate mechanical and corrosion properties.

Muchammad Ali Fikri; Syadzadhiya Qothrunada Zakiyayasin Nisa’; R Mohammad Alghaf Dienullah; R Mohammad Alghaf Dienullah

JURNAL WILAYAH, KOTA DAN LINGKUNGAN BERKELANJUTAN 2026 Fakultas Teknik Universitas Cenderawasih

The drainage system is critical infrastructure for managing stormwater runoff in densely built urban areas, including higher education institutions. This study aims to evaluate the capacity performance of the existing drainage channels in the UPN "Veteran" Jawa Timur campus area. The evaluation was conducted through two main stages: hydrological analysis using the rational method to estimate the design runoff discharge for a 10-year return period, and hydraulic analysis using Manning's equation to calculate the channel cross-sectional capacity in accordance with Permen PU No. 12 of 2014. Based on the assessment of 43 drainage channels, the results showed that 33 channels (76.7%) are still functioning optimally and capable of accommodating the design discharge. Conversely, 10 channels (23.3%) were identified as having insufficient capacity. This capacity deficit was triggered by initial designs that did not accommodate the 10-year return period flood discharge, increased runoff coefficients due to massive pavement development, and effective cross-section narrowing caused by sedimentation. To mitigate inundation issues, this study recommends redesigning the failing channels using an economical hydraulic cross-section, accompanied by periodic normalization and dredging for functional channels. The findings of this study are expected to serve as technical guidelines for the optimal and sustainable management of campus drainage infrastructure.

Neng Ulpa Apipah; Ani Indah Sari; Sri Rokhlinasari; Alvien Septian Haerisma

JURNAL EKONOMI BISNIS DAN MANAJEMEN (JISE) 2026 CV. ALIM'SPUBLISHING

This study investigates the role of Baitul Maal wa Tamwil (BMT) in empowering Micro, Small, and Medium Enterprises (MSMEs) through the integration of Maqashid Sharia principles and financial inclusion strategies. Despite the strategic importance of MSMEs in economic growth and poverty reduction, many face challenges in accessing formal financial services. BMT, with its dual function of social (maal) and commercial (tamwil) activities, offers a unique platform to bridge this gap. Using a qualitative systematic literature review guided by PRISMA, this study analyzes 30 relevant articles to examine BMT operational models, implementation of Maqashid Sharia objectives, financial inclusion practices, and their impact on MSME performance. Findings indicate that BMT effectively supports MSMEs in capital access, income generation, and business resilience, but inconsistencies in balancing social and commercial objectives limit. holistic empowerment. Integrating Maqashid Sharia principles enhances ethical and sustainable outcomes, while financial inclusion expands outreach to underserved entrepreneurs. Optimization strategies, including strengthening institutional capacity, combining financial and non-financial support, and context-specific interventions, are essential for maximizing BMT effectiveness. This study contributes a comprehensive framework linking ethical, financial, and empowerment dimensions, offering practical guidance for policymakers and BMT managers in promoting inclusive and sustainable MSME development.

Dina Daniati; Diane Laurentia; Tantie Aqsha; Apri Kuntariningsih; Lidya Fitri Yani

An International Journal Tourism and Community Review 2026 Akademi Kesejahteraan Sosial Ibu Kartini Semarang

This research investigates the integration of Sound Governance principles within the sustainable tourism policy cycle as a mechanism to mitigate institutional fragmentation and evaluation inefficiencies in developing economies. Adopting a sequential explanatory mixed-methods design, the study establishes a multidimensional evaluation framework congruent with the Sustainable Development Goals (SDGs). Policy performance is rigorously analyzed across five strategic domains: Economy, Social-Welfare, Culture-Education, Environment, and Governance. The quantitative methodology employs 17 adapted SDG indicators to assess policy efficacy, while the subsequent qualitative phase utilizes semi-structured interviews and stakeholder mapping to deconstruct complex power dynamics within multi-actor co-management structures. The empirical findings demonstrate that Sound Governance—predicated on transparency and accountability—acts as a fundamental catalyst for policy effectiveness. It significantly enhances destination sustainability through a structured input-process-output-outcome-impact pathway. Evidence from the case study of Penglipuran Village, Bali, validates these results, showing that while indigenous institutional legitimacy bolsters social responsiveness, it remains susceptible to economic dependencies driven by overtourism. Ultimately, this study asserts that embedding SDGs into the policy evaluation cycle elevates assessments from perfunctory administrative exercises to strategic instruments essential for ecosystem preservation and long-term demand stability. These insights establish Sound Governance as a strategic intangible asset, providing significant theoretical contributions to development administration and offering pragmatic frameworks for policy-makers managing sustainable destinations in competitive global markets.

Abdul Ghofur; Hendri Kurniawan; Apri Kuntariningsih; Ahmad Muthohar

An International Journal Tourism and Community Review 2026 Akademi Kesejahteraan Sosial Ibu Kartini Semarang

This study examines the role of the creative economy in enhancing sustainable tourism potential in Pampang Cultural Village, Samarinda, Indonesia, and identifies strategic priorities for its development. Pampang Cultural Village is recognized for its rich cultural heritage preserved by the Dayak Kenyah community, which serves as a valuable tourism asset. Despite this potential, the contribution of creative economy activities to tourism development has not been fully optimized. Therefore, a comprehensive analysis is needed to formulate effective development strategies. This research employs a mixed qualitative–quantitative approach using the SWOT-AHP method. SWOT analysis is utilized to identify internal strengths and weaknesses as well as external opportunities and threats affecting creative economy development. Subsequently, the Analytic Hierarchy Process (AHP) is applied to determine the priority level of each strategic factor and alternative strategy. The findings indicate that the village possesses significant creative economy potential in cultural performances, handicrafts, culinary products, traditional fashion, and cultural souvenirs. Cultural authenticity emerges as the primary strength, while limited innovation capacity and digital marketing skills remain the major weaknesses. The results further reveal that the highest-priority strategy is the development of innovative creative tourism products rooted in Dayak Kenyah cultural heritage while preserving cultural authenticity. This strategy should be supported by digital promotion, human resource capacity building, stakeholder collaboration, and improvements in tourism infrastructure to achieve sustainable tourism development.

Dwi Pangestuti; Osly Usman

JURNAL RISET MANAJEMEN (JURMA) 2026 Institut Teknologi dan Bisnis (ITB) Semarang

This research explores the relationship between work-life balance, academic stress, and students’ academic performance by examining the mediating role of self-efficacy. The study is based on Social Cognitive Theory, which explains that self-efficacy plays an essential role in influencing individual behavior and achievement. A quantitative explanatory survey method was applied, involving undergraduate and postgraduate students from the Faculty of Economics, Universitas Negeri Jakarta, as research participants. Data collection was conducted using online questionnaires, while the analysis employed the Partial Least Squares–Structural Equation Modeling (PLS-SEM) technique. The results demonstrate that work-life balance is positively associated with academic performance, although the relationship is not statistically significant. Meanwhile, academic stress has a negative but insignificant effect on academic performance. The findings also show that work-life balance significantly enhances students’ self-efficacy, whereas academic stress significantly decreases self-efficacy levels. Furthermore, self-efficacy has a significant positive impact on students’ academic performance. However, the mediation test indicates that self-efficacy does not significantly mediate the relationship between work-life balance, academic stress, and academic performance. In general, the study underlines the importance of self-efficacy in supporting academic achievement among students. Therefore, universities are expected to promote programs focused on strengthening self-efficacy, improving stress management, and maintaining a healthy balance between academic responsibilities and personal life to support sustainable academic success.

Septa Riya Eka Puspita Sari; Endang Murti; Harianto Harianto

Eksekusi: Jurnal Ilmu Hukum dan Administrasi Negara 2026 Sekolah Tinggi Ilmu Administrasi (STIA) Yappi Makassar

This study aims to analyze the reinterpretation function in the development of Orek-Orek Dance in Ngawi Regency carried out by Sanggar Tari Sri Budaya. Orek-Orek Dance is a reinterpretation of the traditional folk art of Orek-Orek, which previously existed in the form of petilan performances or traveling folk theater that developed within the society of Ngawi Regency. This study employed a qualitative descriptive method with data collection techniques consisting of observation, interviews, and documentation. The research informants included the founder of Sanggar Tari Sri Budaya, representatives from the Department of Tourism and Culture of Ngawi Regency, and the local community of Ngawi Regency. The results of the study indicate that reinterpretation was carried out through the modernization of dance forms without eliminating traditional elements, choreography development, the use of digital media, and the creation of new functions for Orek-Orek Dance. Sanggar Tari Sri Budaya succeeded in establishing Orek-Orek Dance as a cultural identity of Ngawi Regency through youth training programs, cultural performances, and digital promotion. The reinterpretation process generated educational, social, creative economic, cultural identity, and modern performance functions. Furthermore, reinterpretation successfully maintained the existence of Orek-Orek Dance amidst the development of modern times so that it remains recognized by people across generations.

Aisyah Larasati Tambunan; Desliana Dwi Tamalia; Divi Humairah; Enggar Fibianingtyas; Ratna Indriani +4 more

WISSEN : Jurnal Ilmu Sosial dan Humaniora 2026 Asosiasi Peneliti Dan Pengajar Ilmu Sosial Indonesia

This study examines young people’s perceptions of the Free Nutritious Meal Program (Makan Bergizi Gratis/MBG) and its impact on public trust in the government. The MBG program is one of the Indonesian government’s strategic policies aimed at improving nutritional quality, particularly for students, while supporting social welfare and human resource development toward Indonesia Emas 2045. In the digital era, social media plays a significant role in shaping public opinion, especially among Generation Z, who actively consume and disseminate information through online platforms. This research employed a qualitative descriptive approach with in-depth interviews, social media observations, and documentation studies as data collection techniques. The participants consisted of young people aged 18–25 years in Bandar Lampung selected through purposive sampling. The findings indicate that most informants perceive the MBG program positively because it is considered relevant to community needs, particularly in improving children’s nutrition and supporting economically vulnerable groups. However, public trust in the government remains conditional due to concerns regarding transparency, uneven distribution, food quality, and program supervision. The study also reveals that young people distinguish between support for the program itself and trust in the government as an institution. Positive perceptions of the program can increase political trust, but implementation weaknesses may reduce confidence in government performance. Therefore, transparency, consistency, and effective public communication are essential factors in strengthening public trust and ensuring the sustainability of the MBG program.

Rafiqi, Iqbal; Sarah, Murniah

Jurnal Inovasi Ekonomi Syariah dan Akuntansi 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to analyze trends in scientific publications related to the application of green banking in financing products within Islamic banking in Indonesia during the 2019–2024 period. Using a bibliometric analysis method based on Google Scholar data and mapping via VOSviewer software, this study evaluates 60 selected articles. The study results indicate a significant annual increase in publications, with a primary focus on integrating green banking principles into Islamic financing policies, their impact on profitability, and the role of technology in supporting green banking. Additionally, the study found that environmental sustainability, green financing, and digital transformation are the most dominant themes in the development of green banking research within Islamic banking. Bibliometric network analysis indicates a strong interconnection between the concepts of green finance, sustainable banking, and Islamic banking in supporting sustainable economic development. This study also identifies opportunities for further research related to the effectiveness of green banking implementation on the financial performance and social responsibility of Islamic banking. These findings contribute to the development of green finance literature in the Islamic finance sector and serve as a strategic reference for regulators and practitioners in implementing sustainable banking policies in the future.

Rivaldo, Rahul; Elvia Zahara, Anzu

Jurnal Manajemen Sosial Ekonomi 2026 LPPM Sekolah Tinggi Ilmu Ekonomi - Studi Ekonomi Modern

This study aims to analyze the effect of wages and work environment on employee performance at PT. Rezeki Surya Gasindo. The background of this research is based on the importance of decent wages and a conducive work environment as factors that can enhance employee productivity and work quality. This study employs a quantitative method with a causal associative approach. Data were obtained through the distribution of questionnaires to all employees of PT. Rezeki Surya Gasindo and measured using a Likert scale. The data analysis techniques used in this study include validity and reliability tests, R-square test, and hypothesis testing through bootstrapping with SmartPLS 3 software. The results indicate that wages have a positive and significant effect on employee performance, and similarly, the work environment also has a positive and significant effect on employee performance. Simultaneously, wages and work environment are proven to have a significant effect on employee performance. These findings suggest that the company should pay attention to providing appropriate wages and creating a comfortable work environment in order to optimize employee performance.

fadil, mochamad; Dies, Dies nurhayati; Ningrum, Purwaningrum Lestari

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

The plantation sector is one of the main pillars in Indonesia’s international trade. Commodities such as palm oil, rubber, coffee, and cocoa serve as leading export products that contribute significantly to the country’s foreign exchange earnings. This study aims to analyze the role of plantation commodity exports in Indonesia’s international economic performance and to identify the challenges faced. The method used is a descriptive qualitative approach through literature review from various scientific sources. The results indicate that plantation exports contribute substantially to economic growth, employment generation, and the stability of the trade balance. However, several challenges persist, including global price fluctuations, sustainability issues, and international trade barriers. Therefore, strategic policies are required to enhance the competitiveness of Indonesia’s plantation commodities in the global market.

Fathimah Azzahro; Bayu Irwansyah; Galih Gumilar; Apri Kuntariningsih

International Journal of Communication, Tourism, and Social Economic Trends 2026 Asosiasi Penelitian dan Pengajar Ilmu Sosial Indonesia

This study examines the integration of Sound Governance principles within the sustainable tourism policy cycle to address institutional fragmentation and evaluation inefficiencies in developing economies. Using a sequential explanatory mixed-methods design, the research develops a multidimensional evaluation framework aligned with the Sustainable Development Goals (SDGs), analyzing policy performance across five strategic domains: Economy, Social-Welfare, Culture-Education, Environment, and Governance. The quantitative phase utilizes 17 adapted SDG indicators to measure policy efficacy, while the qualitative phase employs semi-structured interviews and stakeholder mapping to deconstruct power dynamics in multi-actor co-management structures. The findings reveal that Sound Governance—specifically transparency and accountability—serves as a critical catalyst for policy effectiveness, significantly influencing destination sustainability through an input-process-output-outcome-impact pathway. Empirical evidence from the case of Penglipuran Village, Bali, corroborates these results, demonstrating that indigenous institutional legitimacy enhances social responsiveness but remains vulnerable to overtourism-driven economic dependency. Notably, the study demonstrates that integrating SDGs into the policy evaluation cycle transforms assessments from mere administrative formalities into strategic instruments for long-term demand stability and ecosystem preservation. These findings position Sound Governance as a strategic intangible asset, offering theoretical contributions to development administration and practical guidance for policy-makers navigating the complexities of sustainable destination management in competitive global markets

Maiz Wachid Anshorie; Anik Farida; Ela Nurlaela; Abdul Azis; Syaeful Bahri

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

This study examines the determinants of the Jakarta Composite Index (JCI) based on three main macroeconomic factors namely inflation, the USD/IDR exchange rate, and the SBI interest rate (BI Rate) covering the period January 2020 to December 2025, in the context of post-COVID-19 pandemic recovery and global economic turmoil. A quantitative approach was employed using the Ordinary Least Squares (OLS) method, with 72 monthly observations derived from secondary data sourced from official institutions including Bank Indonesia (BI), the Central Statistics Agency (BPS), the Indonesia Stock Exchange (IDX), and the Financial Services Authority (OJK). Classical assumption tests were applied comprising the Jarque-Bera normality test, Variance Inflation Factor (VIF) for multicollinearity, Breusch-Godfrey for autocorrelation, White Test for heteroscedasticity, and Ramsey RESET for model specification. Partially, inflation, exchange rate, and BI Rate each demonstrate a positive and significant effect on the JCI (p < 0.05). Simultaneously, all three variables exert a significant combined influence on the JCI, with a coefficient of determination R² = 0.4414, indicating that the model explains 44.14% of the variation in the JCI. The remaining 55.86% is attributed to other variables outside the model. Classical assumption test results reveal violations of normality, autocorrelation, and heteroscedasticity assumptions, although the model is free from multicollinearity. These findings confirm that Bank Indonesia's monetary policy has a significant and measurable impact on capital market performance. Further research is recommended using more advanced time series models such as GARCH or VECM to address violations of classical assumptions and improve estimation efficiency.