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Evi Gravitiani
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Master of Economics and Development Studies Faculty of Economics and Business, Universitas Sebelas Maret Jl Ir. Sutami 36A Kentingan Surakarta 57126 Central Java Province, Indonesia
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Journal of Applied Economics in Developing Countries
Published by Universitas Sebelas Maret
ISSN : 23546417     EISSN : 26857448     DOI : https://doi.org/10.20961/jaedc
Core Subject : Economy,
Economics, Econometrics & Finance
FOCUS This journal focused on economics, business, and management in developing countries studies and presents developments through the publication of articles and research reports. SCOPE The Journal of Applied Economics in Developing Countries (JAEDC) specializes on Economics, Business, and Management in developing countries, and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines. The focus and scope of the Journal of Applied Economics in Developing Countries include: 1. Development Economics 2. Fiscal policy 3. Monetary economics 4. Public policy 5. Regional economics development 6. Institutional economics 7. Poverty and inequality 8. International economics 9. Financial economics 10. Digital economics 11. Circular and Environmental Economics 12. Health Economics 13. Industrial Economics 14. Labor Economics
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 72 Documents
 1   2   3   4   5 
COMPARATIVE ANALYSIS OF ACCURACY BETWEEN CAPITAL ASSET PRICING MODEL (CAPM) AND ARBITRAGE PRICING THEORY (APT) IN PREDICTING STOCK RETURN (CASE STUDY: MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2015-2018 PERIOD) Try Wahyuny; Tri Gunarsih
Journal of Applied Economics in Developing Countries Vol 5, No 1 (2020): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v5i1.53442

Abstract

This study aims to analyze the accuracy comparison between the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT) in predicting stock return in manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the period 2015 - 2018. CAPM is a model of the relationship between risk and expected return of a security or portfolio. It can be used to determine the price of a risky asset, whereas APT is an approach in determining the price of an asset that is not only based on one variable, but many variables. The variables used in this study consist of market risk premium, inflation, exchange rates (Rp / USD), interest rates, and stock returns. The method used in sampling is purposive sampling. Based on the method, 20 samples of companies with certain criteria were obtained. The data used in this study are secondary data. Secondary data collection was obtained from the Yahoo Finance website, the Bank Indonesia website, and the Ok Stock website, which includes monthly time series data on closing stock prices and the Composite Stock Price Index (CSPI), as well as monthly time series on macroeconomic variables. Data analysis in this study uses Mean Absolute Deviation (MAD) by comparing the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT). The results of data calculations show that the Mean Absolute Deviation (MAD) value on the CAPM model has a value of 0.1096 and the APT model has a value of 0.3631. The smaller the value of Mean Absolute Deviation (MAD), it indicates that the regression model is more precise or accurate in predicting the dependent variable, namely stock returns. The results of data analysis show that the CAPM model is more precise or accurate than the APT model in predicting stock returns.Keywords: CAPM, APT, Accuracy, Stock Return  
ECOTOURISM ATTRACTIVENESS AND THE NEED TO REVIEW THE COMPETITIVENESS POTENTIAL OF ECOTOURISM DEVELOPMENT Sulistya Rini Pratiwi; Meylin Rahmawati; Kartini Kartini
Journal of Applied Economics in Developing Countries Vol 6, No 2 (2021): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v6i2.79412

Abstract

Community-based potential development in an area helps in supporting the development of a region. This research aims to analyze community-based ecotourism development strategies in Tarakan City. This study uses a qualitative method. The analytical method used is SWOT analysis (Strength, Weakness, Opportunity, Threat). The study results explain the strategy to be used in developing tourism Objects of the Persemaian in Tarakan City. is to be in quadrant II, using the strengths to take advantage of long-term opportunities to cover existing weaknesses. From the results of the SWOT analysis, it is known that the management of the area is good in improving the maintenance of infrastructure and the importance of increasing the marketing strategy to encourage the Tourism Object of the Persemaian in Tarakan City.Keywords: SWOT; Community-based ecotourism
RICARDIAN EQUIVALENCE PARADIGM CONTRADICTION: GOVERNMENT DEBT AS A FISCAL POLICY INSTRUMENT AGAINST CONSUMPTION IN 6 ASEAN COUNTRIES Nur Qoyyim Fathoni; Lukman Hakim; Siti Nurazira Moh Daud
Journal of Applied Economics in Developing Countries Vol 7, No 2 (2022): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v7i2.79453

Abstract

Fiscal policy in the form of government debt is become an interest debate using Ricardian Equivalence Hypothesis. Because Ricardian Equivalence Hypothesis is opposite to Keynes teory. Ricardian Equivalence Hypothesis assume that the community behaves rationally, government debt at this time will lead to public burden in the future, the government debt will not affect the consumption of society. Ricardian Equivalence Hypothesis becomes a interest in various countries of ASEAN with the majority of emerging economies. The study will examine the validity od ricardian equivalence hypothesis in 6 ASEAN countries by using secondary data on household consumption, government debt, gross dometic bruto, government expenditure and tax revenue. The study is using data panel model in the period following the Asian crisis in1998 and period following the global crisis in 2008. The results of the aftermalth of the Asian crisis showed a variable of government debt, gross domestic bruto and government expenditure with a significants overpost on household consumption while the tax revenue variable had a negative relationship to household consumption. The results estimation of the global post-crisis estimaties indicate gross domestic bruto variable with significants overage on household consumption while the government debt variable, government expenditure and tax revenue have a negative relationship to household consumption. Keywords: Government Debt; Ricardian Equivalence; Consumption; ASEAN; Panel Data Model
THE ROLE OF SERVICE AND RELATIONSHIP QUALITY TOWARD CUSTOMER SATISFACTION AND LOYALTY IN BANK JATENG BRANCH OF SURAKARTA Tri Nurdyastuti; I Gusti Putu Diva Awatara
Journal of Applied Economics in Developing Countries Vol 3, No 1 (2018): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v3i1.40117

Abstract

The purpose of this study to know effect of service quality and relationship to customer satisfaction and customer loyalty in Bank Jateng Branch Surakarta. Total sample of 100 respondents are customers of Bank Jateng Branch of Surakarta. The data in this research will be obtained directly from the results of interviews with the spread of questionnaires that have provided answers and or from field observations. Data showing the intensity of a behavior, a qualitative quantity will be quantized by using Likert scale. The result of regression equation shows that: Service quality significantly influence customer satisfaction at Bank Jateng Branch of Surakarta. Relationship significant effect on customer satisfaction at Bank Jateng Branch Surakarta. Service quality significantly affects customer loyalty in Bank Jateng Branch of Surakarta. Relationship significant effect on customer loyalty in Bank Jateng Branch Surakarta. Customer satisfaction has no significant effect on customer loyalty in Bank Jateng Branch of Surakarta. The conclusion of this path analysis shows that the use of intervening variable of customer satisfaction in order to increase loyalty, for the variable of service quality and relationship shows ineffective.Keywords: Service Quality, Relationship, Customer Satisfaction, Loyalty
ANALYSIS OF GOVERNMENT FINANCIAL PERFORMANCE IN THE VILLAGE INCOME AND EXPENDITURE BUDGET (APBDESA) OF SIX VILLAGES IN MUNGKID DISTRICT BUDGET YEAR 2015-2018 Akil Akbar Azizi; Mulyanto Mulyanto
Journal of Applied Economics in Developing Countries Vol 4, No 2 (2019): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v4i2.44404

Abstract

This study aims to determine the financial performance consisting of income performance and expenditure performance. Income performance consists of several ratios, among others, financial independence, effectiveness, efficiency, degree of decentralization and financial dependence. expenditure performance consists of several ratios, including the ratio of operating expenditure, capital expenditure and expenditure efficiency. This type of research is quantitative descriptive. The data collection technique needed in this study is a documentary technique with data in the form of the Realization of Village Revenue and Expenditure Budget (APBDesa) Budget Year 2015 to 2018. The results of this study indicate that the income performance calculated by the independence ratio of six villages in Mungkid District is still relatively low with an average of 16.23% which is included in the instructive criteria. Then the effectiveness is classified as high with an average of 100.16%. The average efficiency ratio is 98.39% which means it is still classified as inefficient. The degree of decentralization is still relatively low with an average of 13.03%. Financial dependence is also still in very high criteria with an average of 86.62%. The expenditure performance analyzed by operating expenditures averaged 50.58% and capital expenditure amounted to 49.41% which indicated that the village still prioritized its budget for operational use compared to capital expenditure used for development. Then seen from the efficiency of expenditure, it is still classified as efficient with an average of 95.84%, which means that the government manages its expenditure budget to be classified as good, by spending its budget not exceeding the budget set.Keywords:  Income Performance, Expenditure Performance, Village Budget
THE INFLUENCE OF WORK MOTIVATION, WORK DISCIPLINE, AND WORK ENVIRONMENT ON EMPLOYEE PERFORMANCE AT THE MADIUN CITY LAND OFFICE Ine Ardita Indriya Mochtar; Ahadiati Rohmatiah; Mutmainah Mutmainah
Journal of Applied Economics in Developing Countries Vol 6, No 1 (2021): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v6i1.54119

Abstract

This study aims to know influence of work motivation, work discipline, and work environment on the performance of the employees of the Madiun City Land Office. The population in this study were 59 employees of the Madiun City Land Office. The sample of this research was 59 people. Sampling using saturated sampling technique. The data analysis technique used the Partial Least Square (PLS) approach and was assisted by the SmartPLS 3.2 software. Data analysis techniques include testing the outer model (measurement model) consisting of convergent validity, discriminant validity, composite reliability, inner model testing (structural model) consisting of variant analysis (R2) or Determination Test, t test, and F test. The results of the study are: 1) work motivation variable (X1) and work environment (X3) partially affect the performance of the Madiun City Land Office employees, 2) work discipline variable (X2) partially has no effect on the employee performance of Madiun City Land Office, 3) work motivation variable (X1), work discipline (X2) and work environment (X3) simultaneously affect the performance of the Madiun City Land Office employees, 4) work environment variable (X3) has the most dominant influence on the performance of the Madiun City Land Office employees. Keywords: Work Motivation, Work Discipline, Work Environment, Employee Performance.
EFFECT OF TRUST, PERCEIVED EASE OF USE, AND PERCEIVED USEFULNESS ON REPURCHASE INTENTION FINANCIAL TECHNOLOGY (STUDY OF ELEVEN MARET UNIVERSITY STUDENT) Winda Gunawan; Riwi Sumantyo; Novi Tri Putri
Journal of Applied Economics in Developing Countries Vol 7, No 1 (2022): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v7i1.79424

Abstract

This study aims to determine the effect of trust, perceived ease of use, and perceived usefulness on repurchasing intention of financial technology. Respondents in the study were Sebelas Maret University students who had used Cicil.co.id financial technology. The data used in this study is primary data, derived from questionnaires that have been distributed to respondents. Test equipment used in research instruments is validity test and reliability test. The analysis of the data used is multiple linear regression analysis processed using SPSS version 22. In this study the independent variables are trust, perceived ease of use, and perceived usefulness. While the dependent variable is repurchase intention. The results of this study indicate that the variable trust and perceived ease of use significantly influence the repurchase intention of Cicil.co.id financial technology. While the variable of perceived usefulness does not have a significant effect on the repurchase intention of Cicil.co.id financial technologyKeywords: Students; Repurchase Intention; Financial Technology
ANALYSIS OF THE TOURISM SECTOR CONTRIBUTION TO THE IMPROVEMENT ECONOMIC GROWTH IN CENTRAL JAVA Hillary Netty Habsari; Evi Gravitiani; Darme Esther Mastina Hutabarat
Journal of Applied Economics in Developing Countries Vol 8, No 2 (2023): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v8i2.79835

Abstract

This research  aims to determine the effect of the degree of number of tourists, the number of tourist attractions, hotel occupancy rates, and the average length of stay of tourists on economic growth using the Gross Regional Domestic Product parameters. This research was conducted on all regencies or cities in Central Java Province with a total of 35 regencies or in the period 2009-2018. The data source used in this study is secondary data taken from the Central Statistics Agency page and the Youth, Sports, and Tourism Office which are then further processed. The data analysis method used is multiple linear regression test using panel data. The results of the study showed that the number of tourists, the number of tourist attractions, and the average length of stay of each tourist had a positive and significant impact on Gross Regional Domestic Product, while hotel room occupancy rates did not have any effect on Gross Regional Domestic Product. In addition to the number of tourists, the number of tourist attractions, hotel room occupancy rates, and the average length of stay of tourists simultaneously or together significantly affect Gross Regional Domestic Product. Keywords: Number of Tourists, Number of Travel Attractions, Hotel Room Occupancy, Gross Regional Domestic Product, Tourism, Central Java Provision
THE IMPACT OF BOPO, CAR AND LDR ON SUPPLY OF CREDIT IN STATE-OWNED BANKS OF INDONESIA, 2000-2016 Juliana Fransiska Setiawan Doeve; Malik Cahyadin
Journal of Applied Economics in Developing Countries Vol 3, No 1 (2018): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v3i1.40100

Abstract

In 2016 the credit supply of State-owned Banks of Indonesia has contributed to total banking credit supply about 39.11%. In addition, in 2000-2016 the credit supply of State-owned Banks of Indonesia tend to increase. This research aims to analyze the impact of operational cost of operating income (BOPO), Capital Adequacy Ratio (CAR), and Loan to Deposit Ratio (LDR) on supply of credit in State-Owned Banks of Indonesia in 2000-2016. It refers to Nuryakin and Warjiyo (2007), Satria and Bagus (2010), Febrianto and Muid (2013), Khasanah and Meiranto (2015), Devi (2016), Amelia (2017), Haryanto and Widyarti (2017), Hyun and Rhee (2011), and Lemmon and Michael (2010). Furthermore, this research employs Fixed Effect Model (FEM). The research results show that BOPO has a negative impact and significant on supply of credit, LDR has a positive impact and significant on supply of credit, while CAR has no impact on supply of credit. The recommendation of this research covers: banks should held down operational cost, banks should manage risks on CAR, and banks should keep a level of LDR.Keywords: Supply of Credit, State-Owned Bank, FEM
THE INFLUENCE OF DIVIDEND POLICY, PROFITABILITY, AND CORPORATE GOVERNANCE (CG) ON COMPANY VALUE (EMPIRICAL STUDY ON GO PUBLIC COMPANIES LISTED IN CGPI INDEX IMPROVEMENTS 2010-2017) Wahyu Widiastuti; Tri Gunarsih
Journal of Applied Economics in Developing Countries Vol 4, No 1 (2019): Journal of Applied Economics in Developing Countries
Publisher : MESP–FEB UNS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/aedc.v4i1.42561

Abstract

This study aims to analyse the effect of the proxy policy dividend with Dividend Payout Ratio on firm value, the effect of proxied profitability with Return On Equity on firm value, and the effect of Corporate Governance proxied by the CGPI index on firm value. The company's value in this study is proxy by Price to Book Value. The independent variables in this study are dividend policy, profitability, and corporate governance, while company value is the dependent variable. This research is a type of quantitative research. The sample of companies in this study were 15 companies that go public on the Indonesia Stock Exchange (IDX) listed on The Indonesian Institute for Corporate Governance (IICG) and received a rating of the CGPI index (Corporate Governance Perception Index) in 2010 to 2017. So the amount of data in this study are 120 data. Sampling in this study uses a purposive sampling method that uses several terms and criteria. Data analysis in this study used descriptive statistical tests, multiple linear regression tests, and the classic assumption test consisting of normality tests, multicollinearity tests, autocorrelation tests, and heteroscedasticity tests. While the statistical tests in this study use the coefficient of determination (R²) test, srimultan test (F test), partial test (t test). Based on the results of research that has been done, it shows that the dividend policy which is proxied by the Dividend Payout Ratio has no effect on the value of the company, Profitability which is proxied by Return On Equity has a positive and significant effect on company value, and Corporate Governance using the CGPI index has a positive and significant effect to the value of the company. Keywords: Company Value, Dividend Policy, Profitability, Corporate Governance (CG)

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