Nomico is a peer-reviewed open access international journal with the aim of disseminating the results of research, study, and development in the economic and finance, particularly in the fields of (1) accounting, (2) management, (3) capital markets, (4) business law, (5) taxation, (6) information systems, as well as other areas of economics and finance. All submitted manuscripts will be reviewed by the editors and then evaluated by a minimum of two International Reviewers through a double-blind review process. This is to ensure the quality of manuscripts published in the journal. Journal title : Nomico Initials : NJ Frequency : 12 (twelve) times a year DOI : 10.62872 ISSN Online : 3046-6318 Editor in Chief : Dr. Ifada Rahmayanti, SE, MM Managing Editor : Muh. Adzam, S.Stat., M.Sc. Assistant Editor : Dr. Yusran Zainuddin. M. M Publisher : PT. Anagata Sembagi Education Accreditation : Index Copernicus International
Complexity-Based Economic Growth: Integrating Productivity, Industrial Structure, and National Competitiveness
Economic growth is increasingly understood as a complexity-based process that integrates productivity, industrial structure, and national competitiveness within a unified system. This study aims to analyze how complexity-driven economic growth emerges through the interaction of these key dimensions. The research employs a qualitative approach with a descriptive-analytical design using a literature-based method. Data were collected from reputable scholarly journals and international reports and analyzed using content and thematic analysis to identify patterns related to economic complexity, productivity dynamics, and structural transformation. The findings reveal that economic complexity significantly enhances productivity by fostering diversified, interconnected, and knowledge-intensive industrial structures. Structural transformation from low-productivity sectors to advanced manufacturing and services plays a crucial role in increasing total factor productivity and strengthening global competitiveness. In addition, innovation, institutional quality, and industrial linkages are identified as key drivers of sustainable growth. However, challenges such as limited technological capacity, structural rigidity, and policy misalignment remain critical, particularly in developing economies. The discussion highlights the importance of integrated and capability-based industrial strategies to overcome these constraints. In conclusion, complexity-based economic growth provides a comprehensive framework for achieving sustainable and competitive development when supported by innovation, institutional strength, and strategic policy alignment.
Copyright (c) 2026 Moh Zaini (Author) https://creativecommons.org/licenses/by-sa/4.0
National Economic Resilience in the Shadow of Global Fragmentation: A Contemporary Political Economy Perspective
This study reinterprets economic growth in the context of global uncertainty and structural transformation, emphasizing a shift from traditional GDP-oriented approaches toward multidimensional and resilience-based frameworks. Increasing global shocks such as financial crises, pandemics, and geopolitical instability have exposed the limitations of conventional growth models and necessitated a new analytical perspective. This research employs a qualitative approach using a systematic literature review of peer-reviewed journal articles and policy reports. Data are analyzed through qualitative content analysis and a thematic interpretative framework to identify key dimensions of contemporary growth. The findings reveal that economic growth is shaped by global uncertainty, structural transformation, inclusiveness, ecological sustainability, digital innovation, institutional capacity, and advanced measurement frameworks beyond GDP. The discussion highlights a paradigm shift from “more growth” to “better, resilient, and sustainable growth,” where structural policies, diversification, and innovation play central roles. The study concludes that economic growth must be understood as an adaptive, inclusive, and sustainability-oriented process that integrates economic, social, and environmental dimensions. Such an approach provides a more comprehensive basis for policy formulation in an increasingly complex global economy
Copyright (c) 2026 Loso Judijanto (Author) https://creativecommons.org/licenses/by-sa/4.0
Reinterpreting Economic Growth in the Context of Global Uncertainty and Structural Transformation
This study reinterprets economic growth in the context of global uncertainty and structural transformation, emphasizing a shift from traditional GDP-oriented approaches toward multidimensional and resilience-based frameworks. Increasing global shocks such as financial crises, pandemics, and geopolitical instability have exposed the limitations of conventional growth models and necessitated a new analytical perspective. This research employs a qualitative approach using a systematic literature review of peer-reviewed journal articles and policy reports. Data are analyzed through qualitative content analysis and a thematic interpretative framework to identify key dimensions of contemporary growth. The findings reveal that economic growth is shaped by global uncertainty, structural transformation, inclusiveness, ecological sustainability, digital innovation, institutional capacity, and advanced measurement frameworks beyond GDP. The discussion highlights a paradigm shift from “more growth” to “better, resilient, and sustainable growth,” where structural policies, diversification, and innovation play central roles. The study concludes that economic growth must be understood as an adaptive, inclusive, and sustainability-oriented process that integrates economic, social, and environmental dimensions. Such an approach provides a more comprehensive basis for policy formulation in an increasingly complex global economy.
Toward a New Model of Economic Growth: Synthesizing Stability, Innovation, and Equity
Economic growth has long been regarded as a central objective of development policy, yet conventional growth models that emphasize capital accumulation and labor expansion increasingly face criticism for their inability to address environmental degradation, economic inequality, and structural transformation in modern economies. These limitations highlight the need for a new economic growth framework that integrates innovation, institutional stability, inclusiveness, and sustainability. This study aims to analyze the conceptual foundations of a new growth model that synthesizes these dimensions to support balanced and resilient economic development. The research employs a qualitative approach based on a systematic literature review of accredited academic journals and relevant scholarly publications. Data were collected from recent empirical and theoretical studies related to economic growth, financial inclusion, innovation, and sustainable development, and analyzed using qualitative content analysis and conceptual synthesis techniques. The findings indicate that innovation, particularly through digital technology and financial innovation, significantly enhances productivity and supports sectoral transformation. Institutional stability and effective governance strengthen the long-term impact of innovation on economic development, while inclusive financial systems expand access to economic opportunities and reduce inequality. Furthermore, sustainability-oriented policies are essential to ensure that economic growth remains environmentally responsible. In conclusion, a multidimensional growth model that integrates innovation, stability, inclusiveness, and sustainability provides a more comprehensive framework for achieving equitable and sustainable economic development.
The Role of Digital Media as a Means of Public Education for the Bina Marga and Bina Construction Service of Lampung Province in Increasing Community Collaboration through Participation in Infrastructure Development (Bandar Lampung Regional Case Study)
The development of digital technology has changed the way people interact, especially in conveying information about infrastructure projects implemented by the government. The purpose of this research is to analyze the function of digital media as a means of public education from the Bina Marga and Bina Konstruksi Office of Lampung Province in increasing community cooperation through involvement in infrastructure development in the Bandar Lampung region. This research applies a quantitative approach by using the survey method. The data collection technique is carried out by distributing questionnaires to residents of Bandar Lampung City who have access and experience in using the digital platform managed by the Bina Marga and Bina Konstruksi Office of Lampung Province. The data obtained was analyzed using multiple linear regression methods with the help of SPSS software. The results of the study show that digital media has a positive and significant impact on citizen participation. Participation measured by indicators such as planning, implementation, supervision, and evaluation indicates that implementation is the most influential indicator. In addition, digital media also plays an important role in community cooperation, and public participation is proven to be a mediation variable between digital media and community collaboration. This finding shows that the more effectively digital media is used as a public education tool, the higher the level of community involvement and cooperation in infrastructure development. This research is expected to be used as an evaluation material and recommendation for government agencies to maximize the utilization of digital media as a public education tool to increase more active and sustainable community participation in infrastructure development.
Copyright (c) 2026 Meisya Annisa, Lestari Wuryanti, Ayu Nursari (Author) https://creativecommons.org/licenses/by-sa/4.0
An Integrative Model of Financial Inclusion and Digital Literacy in Promoting Sustainable Economic Growth
Sustainable economic growth has become a central issue in development policy, particularly in developing countries that face challenges related to poverty, inequality, and limited access to financial services. Financial inclusion and digital literacy have increasingly been recognized as key drivers in supporting inclusive and sustainable economic systems. However, previous studies often examine these two factors separately, resulting in limited understanding of their integrated role in promoting sustainable development. Therefore, this study aims to analyze the relationship between financial inclusion and digital literacy and to formulate an integrative conceptual model that explains how these variables jointly contribute to sustainable economic growth. This research employs a qualitative approach using a systematic literature review method. Data were collected from peer-reviewed journal articles indexed in reputable academic databases published between 2021 and 2025, focusing on studies related to financial inclusion, digital literacy, and sustainable development. The data were analyzed using thematic and conceptual synthesis to identify patterns and theoretical linkages among the key variables. The findings indicate that financial inclusion expands access to financial services and promotes MSME development, while digital literacy enhances individuals’ ability to adopt and effectively utilize digital financial technologies. The integration of these two factors contributes to poverty reduction, economic participation, and environmentally sustainable investment. In conclusion, sustainable economic growth can be strengthened through an integrative framework that combines financial inclusion, digital literacy development, supportive ICT infrastructure, and inclusive regulatory policies.
Copyright (c) 2026 Darnilawati Darnilawati (Author) https://creativecommons.org/licenses/by-sa/4.0
The Influence of Product Innovation and Marketing Strategy on the Competitiveness of MSMEs
This study aims to analyze the effect of product innovation and marketing strategy on the competitiveness of MSMEs in Indonesia, both partially and simultaneously. A causal quantitative approach was employed, with data collected through an online questionnaire distributed via Google Form to 100 MSME owners selected using purposive sampling. The research instruments were developed using a five-point Likert scale based on Gunday et al. (2011) for product innovation (10 items), Kotler & Keller (2016) for marketing strategy (12 items), and Porter (1990) for MSME competitiveness (10 items). Following validity and reliability testing, data were analyzed using multiple linear regression with R statistical software. The results indicate that: (1) product innovation has a positive and significant effect on MSME competitiveness (β = 0.351; t = 4.807; p < 0.001); (2) marketing strategy has a positive and significant effect on MSME competitiveness (β = 0.538; t = 7.368; p < 0.001); and (3) simultaneously, product innovation and marketing strategy significantly affect MSME competitiveness with F = 58.200 (p < 0.001) and R² = 0.545, indicating that both variables explain 54.5% of the variation in MSME competitiveness. These findings imply that MSMEs in Indonesia need to synergistically integrate product innovation capabilities and digital marketing strategies to achieve sustainable competitiveness.
Copyright (c) 2026 Sri Wartini, Dewi Alima Nostalia Suseno (Author) https://creativecommons.org/licenses/by-sa/4.0
Analysis of Factors Influencing Consumer Purchasing Decisions in the Digital Era
Consumer purchase behavior has undergone a fundamental transformation in the digital age due to the intricate interactions between individual traits, product qualities, digital experiences, online marketing tactics, and consumer trust. In order to combine these elements and create a conceptual framework of digital consumer behavior, this study uses a systematic literature review method, reviewing research produced between 2020 and 2026. The results show that customers' capacity to traverse digital platforms is influenced by individual variables such age, education level, digital literacy, and personal preferences. In order to lower perceived risk and boost confidence, product factors such as quality, pricing, brand reputation, and perceived value are crucial. Engagement, loyalty, and purchase decisions are all improved by positive digital experiences, tailored marketing tactics, and high levels of consumer trust. In addition to providing useful insights for business practitioners and theoretical contributions for future research, this study highlights the significance of an integrated strategy that takes into account all influencing aspects to understand digital consumer behavior.
Copyright (c) 2026 Faizin Rahmadi Akbar, Mukhid Mukhid (Author) https://creativecommons.org/licenses/by-sa/4.0
The Role of Big Data and Artificial Intelligence in Shaping Consumer Preferences in the Digital Market
The rapid development of digital technology has transformed contemporary markets into data-driven ecosystems where consumer behavior can be continuously monitored and analyzed. The integration of Big Data and Artificial Intelligence has enabled companies to implement highly personalized marketing strategies that influence consumer decision-making processes. This study aims to analyze the role of Big Data and Artificial Intelligence in shaping consumer preferences within digital markets, particularly through mechanisms of behavioral prediction, algorithmic personalization, and repeated exposure across multiple digital touchpoints. This research employs a qualitative descriptive approach based on a systematic literature review of recent scholarly publications related to digital marketing, Big Data analytics, and Artificial Intelligence. Data were collected from reputable academic journals indexed in international databases and analyzed using thematic analysis and conceptual synthesis to identify key patterns and mechanisms through which data-driven technologies influence consumer preferences. The results indicate that Big Data enables firms to collect and analyze large volumes of behavioral data, while Artificial Intelligence transforms these data into predictive insights that generate personalized recommendations, targeted advertisements, and automated interactions. These mechanisms significantly increase consumer engagement, conversion rates, and transaction values, while simultaneously guiding consumer attention toward specific products. Consequently, consumer preferences in digital markets are not only revealed but actively constructed through algorithmic systems embedded within digital platforms. In conclusion, Big Data and Artificial Intelligence function as strategic technologies that reshape consumer preference formation by enabling firms to predict, personalize, and influence purchasing behavior in contemporary data-driven marketing environments.
Copyright (c) 2026 Putu Maha Putra (Author) https://creativecommons.org/licenses/by-sa/4.0
The Relationship between Price Stability and Output Growth within the Inflation Policy Framework
Price stability is widely recognized as a fundamental objective of macroeconomic policy because stable and predictable inflation supports investment, consumption, and long-term economic planning. Many central banks adopt inflation targeting frameworks to maintain low and stable inflation while promoting sustainable economic growth. However, the relationship between inflation control and output growth remains a subject of debate in economic literature because empirical evidence suggests that the relationship is nonlinear and context dependent. This study aims to analyze the relationship between price stability and output growth within the framework of inflation targeting policy. This research employs a qualitative descriptive approach using a systematic literature review of scholarly publications related to inflation targeting, price stability, and economic growth. Data were collected from peer-reviewed academic journals and macroeconomic studies and analyzed using thematic analysis and conceptual synthesis to identify patterns and mechanisms linking inflation control with output dynamics. The results show that price stability contributes to macroeconomic stability by reducing uncertainty and encouraging investment and production activities. However, the impact of inflation on output growth varies depending on inflation levels and policy responses. Moderate inflation may have neutral or slightly positive effects on economic activity, while high and volatile inflation tends to reduce long-term growth. Additionally, overly restrictive monetary policies aimed at controlling inflation may temporarily suppress economic output. In conclusion, the relationship between price stability and output growth is nonlinear, indicating the need for flexible and coordinated macroeconomic policies that balance inflation control with sustainable economic growth.
Copyright (c) 2026 Firayani Firayani (Author) https://creativecommons.org/licenses/by-sa/4.0
Economic Convergence Across Regions in the Era of Technological Disruption: A Dynamic Panel and Spatial Econometrics Approach
Regional economic inequality remains a major challenge in many countries, particularly in the context of rapid technological disruption and digital transformation. The concept of regional economic convergence suggests that less developed regions may grow faster than advanced regions, thereby reducing disparities in income and productivity. However, recent evidence indicates that convergence processes are increasingly influenced by technological innovation, spatial spillovers, and structural regional differences. This study aims to analyze regional economic convergence in the era of technological disruption by applying dynamic panel and spatial econometric approaches to capture both temporal dynamics and spatial interactions among regions. This research employs a quantitative approach using secondary panel data on regional economic indicators, including gross regional domestic product per capita, digital economy development, infrastructure, and human capital. The analysis applies dynamic panel estimation using the Generalized Method of Moments (GMM) to identify β-convergence, followed by spatial econometric modeling to examine spatial spillover effects between regions. The results indicate that regional convergence occurs conditionally rather than absolutely, with technological innovation and digital economy development playing important roles in shaping regional growth dynamics. Spatial econometric results reveal significant spillover effects, indicating that technological development in one region can positively influence economic growth in neighboring regions. In conclusion, regional convergence in the era of technological disruption is strongly influenced by innovation spillovers and spatial interactions, highlighting the importance of dynamic panel and spatial econometric models in analyzing regional economic development patterns.
The Effect of Job Insecurity and Minimum Wage on Labor Productivity in the Formal Sector
Labor productivity is a key driver of economic growth, yet Indonesia continues to face structural challenges related to wage policy and employment stability. This study aims to analyze the effect of minimum wage and job insecurity on labor productivity in Indonesia’s formal sector. Using a quantitative explanatory approach, the study combines secondary provincial data with primary survey data measuring perceived job insecurity. Multiple linear regression analysis, including an interaction term, is applied to examine both direct and moderating effects. The results show that minimum wage has a positive and significant effect on labor productivity, while job insecurity has a negative effect. Furthermore, job insecurity weakens the positive relationship between minimum wage and productivity, indicating that employment instability reduces the effectiveness of wage policy. These findings highlight that productivity outcomes are influenced not only by economic factors but also by employment conditions and institutional quality. The study concludes that minimum wage policy can enhance productivity when supported by stable employment conditions and effective regulatory enforcement. Without employment security, wage increases may produce limited or inconsistent productivity gains. Therefore, an integrated policy approach that combines wage regulation, employment protection, and institutional strengthening is essential to achieve sustainable productivity growth in Indonesia’s formal sector.
Copyright (c) 2026 Revi Sesario (Author) https://creativecommons.org/licenses/by-sa/4.0
International Accounting Standards Convergence and Its Impact on the Quality of Financial Reporting
The globalization of capital markets has increased the need for harmonized financial reporting standards that allow financial information to be comparable across countries. The convergence of national accounting standards with International Financial Reporting Standards (IFRS) has emerged as a global response to these challenges, aiming to improve the transparency, comparability, and credibility of financial statements. However, empirical findings indicate that the impact of IFRS convergence on financial reporting quality is not always consistent across different institutional contexts. This study aims to analyze how the convergence of international accounting standards influences the quality of financial reporting in the context of global financial reporting practices. The research employs a qualitative approach using a systematic literature review of accredited academic journal articles related to IFRS adoption and financial reporting quality. Data were collected from relevant scholarly publications and analyzed using qualitative content analysis and conceptual synthesis techniques. The findings indicate that IFRS convergence generally improves financial reporting quality by enhancing disclosure transparency, reducing earnings management, and increasing the value relevance of accounting information. Nevertheless, the effectiveness of IFRS implementation is strongly influenced by institutional factors such as regulatory enforcement, governance quality, and professional capacity. The study concludes that although IFRS convergence contributes to improving financial reporting quality, its impact varies across countries, highlighting the importance of institutional readiness and continued evaluation of accounting harmonization policies.
Copyright (c) 2026 Samsidar Samsidar (Author) https://creativecommons.org/licenses/by-sa/4.0
Analysis of Job Insecurity and Minimum Wage on Labor Productivity in the Formal Sector
Labor productivity is a key determinant of economic competitiveness and sustainable growth, yet Indonesia continues to face structural challenges in its formal labor market. Minimum wage policy is frequently used to improve worker welfare, but its impact on productivity remains debated, particularly in relation to job insecurity. This study aims to analyze the effects of minimum wage and job insecurity on labor productivity in Indonesia’s formal sector. Using a quantitative explanatory design, the research combines secondary provincial data on minimum wages and productivity indicators with primary survey data measuring perceived job insecurity among formal sector workers. Multiple linear regression analysis, including an interaction term, is employed to examine direct and moderating effects. The findings indicate that minimum wage has a positive and significant effect on labor productivity, while job insecurity negatively affects productivity. Moreover, job insecurity weakens the positive relationship between minimum wage and productivity. The study concludes that minimum wage can either promote or constrain productivity depending on employment stability and enforcement conditions. Effective wage policy must therefore be accompanied by strengthened job security and institutional support to ensure sustainable productivity growth
Copyright (c) 2026 Juliani Pudjowati, Susi Tri Wahyuni (Author) https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Relationship Between Labor Force Size and BPJS Ketenagakerjaan Participation: A Case Study of North Sumatra Province
Labor force growth is one of the important indicators in observing the dynamics of employment in a region. However, an increase in the labor force is not always accompanied by an increase in participation in social security programs, particularly Social Security Administrator for Employment (BPJS Ketenagakerjaan). This study aims to analyze the relationship between the labor force and the level of participation in Social Security Administrator for Employment (BPJS Employment) in North Sumatra Province from August 2022 to February 2025. The study uses a quantitative method with a correlational approach, utilizing official data from the Central Statistics Agency (BPS) and Satu Data Ministry of Manpower. The analysis was conducted using manual calculations and SPSS software through Pearson's correlation test. The results of the study show a correlation coefficient value of 0.3927, indicating a moderate positive relationship between labor force growth and an increase in the number of BPJS Ketenagakerjaan participants. These findings show that although an increase in the labor force tends to be followed by an increase in the number of BPJS Ketenagakerjaan participants, other factors beyond the size of the labor force also play a role in shaping participation rates, such as the composition of formal and informal workers, economic dynamics, labor policies, and the level of corporate compliance. This study emphasizes the importance of a more targeted strategy in increasing the coverage of employment social security so that it can cover all workers, especially informal sector workers, who are dominant in North Sumatra.
Copyright (c) 2026 Nazwa Izmi Sachsiyyah, Nadia Salsabila Surbakti, Dinara Shabrina Wardhani, Jessica Catherine Oktavia Pasaribu (Author) https://creativecommons.org/licenses/by-sa/4.0
Digital Consumer Literacy as a Determinant of Trust in Digital Economic Transactions
This study examines the role of digital consumer literacy as a determinant of trust in digital economic transactions within the Indonesian context. The rapid expansion of the digital economy has increased reliance on online platforms, yet concerns regarding security, fraud, and data privacy continue to challenge consumer trust. Digital literacy is conceptualized as a cognitive and protective capability that enables consumers to evaluate information, understand digital risks, and engage safely in online transactions. This research employs a quantitative explanatory design using survey data collected from consumers who have conducted digital transactions in the past six months. Data were analyzed using Structural Equation Modeling (SEM) to assess the validity of constructs and to test the structural relationship between digital consumer literacy and trust. The findings indicate that digital consumer literacy has a positive and statistically significant effect on trust in digital economic transactions, with moderate explanatory power. Consumers with higher levels of digital literacy demonstrate stronger perceptions of platform integrity, security, and reliability. The discussion highlights that digital literacy reduces perceived risk and enhances confidence in digital systems. In conclusion, digital consumer literacy significantly contributes to the formation of trust and should be strengthened through integrated policy and educational strategies to support sustainable digital economic participation.
Copyright (c) 2026 Leonita Maharani, Sri Undartik, Muhandis Difa'iy Aziz (Author) https://creativecommons.org/licenses/by-sa/4.0
Energy Transition and Its Implications for the Structure of the National Economy
Energy transition has emerged as a central global agenda in response to climate change, decarbonization commitments, and sustainable development objectives. In fossil fuel–dependent economies, energy transition entails not only technological change but also profound structural transformations within the national economy. This study employs a qualitative descriptive–analytical approach grounded in political economy and public policy analysis to examine the implications of energy transition for national economic structures. Drawing on policy documents, academic literature, and institutional reports, the study analyzes how energy transition reshapes sectoral composition, labor markets, value distribution, and governance dynamics. The findings indicate that energy transition alters existing economic hierarchies, redistributes power among actors, and creates both opportunities for sustainable growth and risks of socio-economic disruption. The study argues that effective energy transition requires policy frameworks that integrate economic restructuring, social justice, and institutional coordination. It concludes that energy transition should be treated as a comprehensive structural economic policy to ensure equitable and sustainable national development.
Copyright (c) 2026 Loso Judijanto, Farkhatun Zaidah (Author) https://creativecommons.org/licenses/by-sa/4.0
Economic and Ecological Sustainability in Sustainable Development Planning: An Ecological Economics Approach
This study examines the integration of economic and ecological sustainability in sustainable development planning through the lens of ecological economics. Conventional development planning has historically prioritized economic growth, often neglecting ecological limits and resulting in systemic environmental degradation. Using a qualitative conceptual–normative approach, this research analyzes theoretical foundations, normative principles, and policy implications of ecological economics as an alternative development paradigm. The study draws on an in-depth review of classical and contemporary literature on sustainable development, ecological economics, and environmental policy. The findings indicate that ecological economics provides a more comprehensive framework for development planning by recognizing the economy as a subsystem of the ecosystem, emphasizing sustainable scale, equitable distribution, and ethical governance. This approach challenges growth-centered planning models and offers normative guidance for integrating ecological constraints into policy design. The study concludes that sustainable development planning requires a paradigm shift toward ecological economics to ensure long-term economic viability, environmental integrity, and social justice.
Copyright (c) 2026 Loso Judijanto, Tharienna Dhesta Kusuma Dewi (Author) https://creativecommons.org/licenses/by-sa/4.0
The Digital Circular Economy: Technological Innovation Strategies for Production and Concumption Efficiency
The increasing environmental and resource pressures associated with linear economic models have intensified interest in the circular economy as a pathway toward sustainable production and consumption. At the same time, rapid advances in digital technologies have transformed how economic systems operate, creating new opportunities to enhance efficiency through data-driven coordination and optimization. This study examines the digital circular economy as an integrated framework in which technological innovation strategies support both production and consumption efficiency. Using a qualitative descriptive–analytical approach with a conceptual–strategic perspective, the study analyzes academic literature, policy documents, and strategic reports on circular economy and digital innovation. The findings indicate that digital technologies play a critical role in enabling system-level efficiency by improving process optimization, reducing waste, enhancing transparency, and reshaping consumption behavior through digital platforms and feedback mechanisms. However, the study also finds that the transformative potential of the digital circular economy depends on the strategic integration of technology with circular principles, organizational practices, and governance frameworks. The research concludes that the digital circular economy offers a viable pathway toward sustainable efficiency only when digital innovation is aligned with systemic circular objectives rather than applied as isolated technological solutions
Copyright (c) 2026 Gusti Lanang Putu Tantra, Ngurah Wisnu Murthi (Author) https://creativecommons.org/licenses/by-sa/4.0
Financial technology-based management and finance integration strategy to realize organizational sustainability
This study aims to critically analyze the strategy of integrating financial technology-based management and finance in realizing organizational sustainability. Digital system integration is often perceived as a rational solution to fragmented organizational management, but empirical practice shows that integration does not always result in substantive strategic alignment. This study uses a qualitative approach with a theoretical-analytical qualitative design to explore the dynamics of integration, the quality of decision-making, organizational governance, and their implications for sustainability. Data were collected through in-depth interviews with strategic organizational actors, non-participatory observation, and document analysis, then analyzed using thematic and conceptual approaches. The results show that financial technology-based integration can improve operational efficiency, information transparency, and decision-making speed, but also has the potential to create an illusion of integration when focused solely on technical aspects. The dominance of financial logic, decision centralization, and systemic dependency emerge as consequences that narrow strategic flexibility. From a sustainability perspective, technological integration strengthens short-term operational resilience, but does not necessarily drive long-term strategic transformation. This study emphasizes that organizational sustainability requires a reflective, participatory, and balanced integration approach between efficiency, control, and adaptability, so that technology functions as a strategic enabler, not the ultimate goal of organizational management.
management integration, financial technology, organizational sustainability
Copyright (c) 2026 Elly Yuniar Nitawati, Nurul Iman, Noviandari (Author) https://creativecommons.org/licenses/by-sa/4.0
The Failure of Subsidy Policies In Conditions of Information Asymmetry : Theoretical and Empirical Analysis
Subsidy policy is an instrument of state intervention aimed at improving welfare distribution and correcting market failures. However, its effectiveness often does not align with its formulated normative objectives. This study aims to analyze the failure of subsidy policy by positioning information asymmetry as a key structural determinant influencing policy design, implementation, and outcomes. The research approach uses a theoretical-analytical qualitative method, combining studies of public economic theory, information asymmetry theory, and institutional perspectives, as well as a critical analysis of empirical findings from various policy documents and previous studies. The analysis shows that information asymmetry between the government, subsidy recipients, and intermediary actors results in inaccurate targeting, incentive distortion, and systemic opportunistic behavior. The gap between the normative design of the policy and the reality of empirical implementation is exacerbated by limited administrative capacity, institutional fragmentation, and weak public information systems. These conditions not only reduce the effectiveness of subsidy policy but also create a significant fiscal burden and hamper the sustainability of public policy. This study emphasizes the importance of reformulating subsidy policy through strengthening governance, integrating information systems, and shifting the paradigm towards recipient-based subsidies. The integration of theoretical and empirical analysis provides a more realistic conceptual basis for the formulation of adaptive, accountable, and sustainable subsidy policies.
Copyright (c) 2026 Ferizaldi Ferizaldi (Author) https://creativecommons.org/licenses/by-sa/4.0
The Potential of the Green Token Economy in Promoting Sustainable Investment in Indonesia
The transition toward sustainable development has intensified the demand for innovative green financing instruments capable of mobilizing investment while ensuring transparency and accountability. In this context, the green token economy has emerged as a digital finance innovation enabled by blockchain technology, offering new opportunities for sustainable investment. This study examines the potential of the green token economy in promoting sustainable investment in Indonesia through a qualitative descriptive–analytical approach with a normative–policy perspective. The analysis is based on regulatory documents, policy frameworks, and academic literature on sustainable finance, blockchain, and digital assets. The findings indicate that green tokens possess significant potential to enhance inclusivity, traceability, and efficiency in financing renewable energy and environmentally sustainable projects. By tokenizing green assets, this model enables broader investor participation and improves transparency in the allocation and monitoring of funds. However, the study also reveals substantial normative and policy challenges, including regulatory fragmentation, legal uncertainty, risks of greenwashing, and insufficient investor protection mechanisms. These constraints limit the institutional legitimacy and scalability of green tokens within Indonesia’s financial system. The study concludes that the green token economy can contribute meaningfully to sustainable investment only if supported by an integrated and adaptive regulatory framework. Aligning digital asset regulation with sustainable finance principles and environmental governance is essential to ensure that green tokens function as credible instruments for long-term sustainable development rather than speculative digital assets.
Copyright (c) 2026 Kamaludin (Author) https://creativecommons.org/licenses/by-sa/4.0
Industrial Relations Policy through Human Development and Talent Management during Tourism Occupancy Decline in Bali on Employee Well-Being
The decline in occupancy within Bali’s tourism industry has created significant pressure on organizations to adapt their industrial relations policies alongside human development and talent management (HD&TM) strategies in order to sustain employee well-being. Fluctuations in tourist arrivals not only affect company revenues, but also influence employment stability, work intensity, and psychological security among hospitality workers. According to the International Labour Organization, periods of economic uncertainty in tourism-dependent regions often lead to increased job insecurity and deteriorating working conditions if not managed through inclusive industrial relations frameworks. This study aims to analyze how the integration of industrial relations policies with HD&TM practices influences employee well-being in the Bali tourism sector. Industrial relations that emphasize fairness, transparency, and employee participation play a crucial role in maintaining trust between management and workers, particularly during periods of organizational restructuring. When such policies are aligned with structured human development initiatives such as continuous training, career planning, and talent retention programs organizations are better positioned to safeguard employee engagement and psychological well-being. The findings indicate that fair, transparent, and participatory industrial relations supported by systematic HD&TM practices enhance employee engagement, loyalty, and overall well-being, while simultaneously reducing turnover intention. This is consistent with Gallup’s (2023) report, which highlights that employees who perceive their organization as supportive of development and fair treatment are significantly more likely to demonstrate higher commitment and lower intention to leave. Therefore, the integration of industrial relations and HD&TM strategies is not merely a compliance mechanism, but a strategic approach to sustaining workforce resilience and organizational performance in Bali’s tourism industry.
Copyright (c) 2026 Desak Komang Febrianita, Budi Santoso (Author) https://creativecommons.org/licenses/by-sa/4.0
Risk Based Accounting in Realizing Reliable Financial Governance
Reliable financial governance is a fundamental prerequisite for organizational accountability and sustainability. However, conventional accounting practices that emphasize historical reporting and formal compliance have shown limitations in addressing the growing complexity of financial, operational, and compliance risks in modern governance. This study aims to analyze the concept of Risk Based Accounting and its role in realizing reliable financial governance. The study employs a qualitative normative–conceptual approach through a literature review of accounting standards, financial governance principles, risk management frameworks, and reputable academic sources. The analysis examines the conceptual relationship between risk, accounting practices, and reliable financial governance. The findings indicate that Risk Based Accounting reorients accounting from retrospective, compliance-based reporting toward a preventive and forward-looking risk-based approach. Integrating risk into accounting practices enhances the quality of financial information, strengthens substantive transparency, and supports more accountable financial decision-making and oversight. This study concludes that Risk Based Accounting constitutes a strategic instrument for strengthening reliable financial governance, provided that it is supported by a clear conceptual framework and consistent normative harmonization.
Copyright (c) 2026 Tharienna Dhesta Kusuma Dewi, Farkhatun Zaidah, Al Putri Oktavia (Author) https://creativecommons.org/licenses/by-sa/4.0
The Adoption of Digital Wallets and Their Influence on the Shopping Behavior of Urban Communities
The rapid development of financial technology has led to significant changes in urban payment systems, particularly through the adoption of digital wallets. This transformation in payment methods has the potential to influence consumer shopping behavior beyond transactional efficiency, affecting consumption patterns and tendencies. This study aims to analyze the influence of digital wallet adoption on the shopping behavior of urban communities. A quantitative approach with an explanatory design was employed using a survey method. Data were collected from urban residents who actively use digital wallets and analyzed using linear regression. The results indicate that digital wallet adoption has a positive and significant effect on shopping behavior among urban consumers. The coefficient of determination reveals that digital wallet adoption explains a substantial proportion of the variance in shopping behavior. These findings suggest that the convenience and efficiency of digital payments play an important role in shaping consumption patterns in urban settings. This study contributes empirically to the literature on digital economy and consumer behavior by highlighting digital payment systems as a key determinant of urban shopping behavior.
Copyright (c) 2026 R. Suprono Wahyujatmiko, Heru Kuncorowati, Chinthia Sari Yusriana (Author) https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Tax Amnesty Policy, Exemption Of Transfer Fees, Tax Socialization, And Service Quality On Motor Vehicle Taxpayer Compliance In Madiun Regency
The government always strives to carry out national development in all fields. The goal of national development is to create a just and prosperous society. In this effort the community is expected to be able to participate voluntarily through taxes, because to support these efforts the Government requires large costs. Every year the Government tries to maximize tax revenues to finance state expenditures because, the higher the tax revenue, the higher the state's ability to finance national development. Efforts to increase potential sources of income are by encouraging public enthusiasm in fulfilling their obligations as taxpayers so that they can foster awareness and compliance in paying taxes. One of them is the East Java Provincial Government launching a Policy or Program to increase regional income while growing awareness and compliance in paying taxes. Given the arrears in East Java 1.9 million taxpayers while in Madiun District 35,388 taxpayers who are in arrears. The purpose of this study was to examine the effect of tax whitening policies, exemption from transfer fees, tax socialization and service quality on motor vehicle taxpayer compliance in Madiun Regency, either partially or simultaneously. This study uses respondents, namely taxpayers who are registered in the SAMSAT of Madiun Regency for the period 2020. The sampling technique in this study is incidental sampling using the formula for calculating the amount of Slovin. The results showed that simultaneously (simultaneously) the policy of tax whitening, exemption from transfer fees, tax socialization and service quality had an effect on the compliance of motorized vehicle taxpayers. While partially the tax whitening policy has a significant positive effect on motor vehicle taxpayer compliance, the exemption of transfer fees has a significant negative effect on motor vehicle taxpayer compliance, tax socialization has a significant positive effect on motor vehicle taxpayer compliance and service quality has a significant positive effect on mandatory compliance. vehicle tax.
Copyright (c) 2024 Taufiq Shiqdi Huda, Wijianto, Sri Hartono (Author) https://creativecommons.org/licenses/by-sa/4.0
The Influence of Food Quality, Service Quality, and Service Recovery on Consumer Satisfaction at Geprek Assalam 99 Plaosan Magetan
The business world has quite a variety of problems, especially in terms of the quality of what is marketed by business actors, for that researchers conduct in-depth research in terms of consumer satisfaction. This study took the object of Assalam 99 Plaosan Magetan geprek consumers. The method used in this study is a quantitative method using multiple linear regression analysis, with hypothesis testing and assisted by determination analysis and instrument testing in the form of validity and reliability. This research uses primary data with a tool in the form of a questionnaire which is distributed directly to related objects in this scientific research. Research shows that food quality has a significant effect on consumer satisfaction. Service quality has a significant effect on customer satisfaction. Service recovery has a significant effect on customer satisfaction.
Copyright (c) 2024 Afif Sultoni, Sri Hartono, Wijianto (Author) https://creativecommons.org/licenses/by-sa/4.0
The Influence of Sustainability-Driven Budgeting on Operational Efficiency and Competitive Advantage
Global pressure for sustainable business practices has encouraged firms to integrate sustainability principles into their budgeting systems as part of strategic management. Sustainability-driven budgeting is increasingly viewed not merely as a compliance mechanism, but as a potential driver of operational efficiency and competitive advantage. This study aims to examine the effect of sustainability-driven budgeting on operational efficiency and competitive advantage, as well as to test the mediating role of operational efficiency in this relationship. A quantitative explanatory survey design was employed. Data were collected from 210 managerial respondents directly involved in budgeting and strategic decision-making processes and analyzed using Partial Least Squares Structural Equation Modeling. The results reveal that sustainability-driven budgeting has a positive and significant effect on operational efficiency. Operational efficiency, in turn, significantly influences competitive advantage. Mediation analysis confirms that operational efficiency partially mediates the relationship between sustainability-driven budgeting and competitive advantage. These findings indicate that sustainability-oriented budgeting practices can generate strategic value by enhancing internal efficiency while strengthening firms’ long-term competitive positioning. This study contributes to the literature on business sustainability by highlighting budgeting as a core managerial mechanism and offers practical insights for managers in designing performance-oriented and sustainability-based budgeting policies.
Copyright (c) 2026 Eko Wiji Pamungkas, Dini Fitriani (Author) https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Village Government Competency, Transparency, Public Participation And Utilization Information Technology Towards Accountability Village Fund Management (Case Study In Villages In Nawangan District, Pacitan Regency)
Accountability in the management of village funds is a demand for the village government as the manager of village funds as a form of implementation of Law No. 6 of 2014 concerning Villages. Influence factors that arise related to village fund management accountability are Village Government Competence, Transparency, Community Participation and Utilization of Information Technology. This study aims to examine the effect of Village Government Competence, Transparency, Community Participation and Utilization of Information Technology on the accountability of village fund management in the Nawangan District, Pacitan Regency. This type of research is quantitative research. The data was collected using a questionnaire with 108 respondents consisting of village officials and the Village Consultative Body (BPD) in 9 villages in the Nawangan District, Pacitan Regency. The data analysis method used was multiple linear analysis using the SPSS version 25 program. The results showed that village government competence, transparency and the use of information technology had a positive effect on village fund management accountability. The results of further research indicate that community participation does not affect the accountability of village fund management
Copyright (c) 2025 Rina Puji Lestari, Wijianto Wijianto , Sri Hartono (Author) https://creativecommons.org/licenses/by-sa/4.0
The Influence of Leadership, Non-Physical Work Environment and Job Satisfaction on Employee Turnover Intention at the “SiCepat Ekspres” Expedition, Ponorogo Branch
This study aims to determine the effect of leadership, nonficical workmanship and work statistics for turnover intention of employees in the Ponorogo Branch "SiCepat Ekspres" Expedition. Keywords: content; formatting; article.The sample used is as many employees as 41 people in Expdisi "SiCepat Ekspres" Ponorogo Branch.The method used in this study is multiple linear regression with the help of SPSS. The results of the study indicate that: (1) Leadership has a partial effect on employee turnover intention at Expedition "SiCepat Ekspres" Ponorogo Branch. (2) The nonficical woekmanship has a partial effect on employee turnover intention at Expedition "SiCepat Ekspres" Ponorogo Branch. (3) the job statisfaction has a partial effect on employee turnover intention at the Ponorogo Branch "SiCepat Ekspres" Expedition.
Copyright (c) 2025 Ariyandi Quliyawan, Sri Hartono, Wijianto Wijianto (Author) https://creativecommons.org/licenses/by-sa/4.0