Economic development in South Sumatra Province faces challenges related to disparities in the distribution of development benefits across regions; despite positive developments in investment, the Human Development Index (HDI), and Local Own-Source Revenue (PAD). This study aims to examine the effects of investment, HDI, and PAD on the Inclusive Economic Development Index (IPEI) and to explain their relevance to the achievement of Sustainable Development Goal (SDG) 8 and the principle of Hifz al-Mal. The study employs a mixed-methods sequential explanatory design using secondary data from 17 regencies/cities in South Sumatra Province during 2020–2024, consisting of 85 observations. Quantitative analysis was conducted using panel data regression with the Random Effects Model (REM) in EViews 13, while qualitative analysis was conducted through document analysis. The results indicate that investment has a positive and significant effect on IPEI, whereas HDI has no significant effect. PAD has a positive and significant effect on IPEI. Simultaneously, investment, HDI, and PAD significantly affect IPEI, explaining 42.38% of its variation. The qualitative analysis indicates that these findings are closely related to the achievement of SDG 8 through economic growth, labor productivity, and employment opportunities. From the perspective of Hifz al-Mal, investment and PAD support the development and protection of economic resources; however, the distribution of development benefits remains suboptimal due to interregional disparities. The study concludes that achieving inclusive and sustainable economic development requires synergistic policies integrating investment, human development, and strengthening local fiscal capacity while ensuring a more equitable distribution of development benefits.
This study analyzes the comparison of the role of QRIS (Quick Response Code Indonesian Standard) and Visa MasterCard as a digital payment system in carrying out the soft power function in global digital economy diplomacy. The research uses a qualitative approach with comparative study methods and adopts the soft power theory of Joseph S. Nye Jr. and the structural power of Susan Strange. The results show that QRIS represents a collaborative soft power model developed by developing countries through increased financial inclusion, transaction cost efficiency, and regional cooperation, especially through the implementation of QRIS Cross-Border in the ASEAN region. The development of QRIS has also strengthened Indonesia's digital economy diplomacy and supported the integration of Local Currency Settlement (LCS)-based payments to reduce reliance on the US dollar-based global payment system. In contrast, Visa MasterCard represents a hegemonic soft power model based on transnational corporations that maintains its dominance through mastery of global infrastructure, technical standards, and payment networks, thus forming an asymmetrically dependent economy. The study concludes that the main differences between QRIS and Visa MasterCard lie in their source of legitimacy, expansion model, and influence orientation. QRIS develops through public policy and regional cooperation, while Visa MasterCard develops through market mechanisms and global network dominance. These findings show that the digital payment system has become a strategic instrument in the competition for influence and the formation of economic sovereignty in the digital era.
This study analyzes the influence of Social Media Promotion and Information Quality on students' Registration Interest through Brand Awareness in higher education institutions located in the Danau Toba Region. The study adopts the Hierarchy of Effect perspective, which explains that behavioral intentions are formed through cognitive processes before leading to action. A quantitative approach was employed using Structural Equation Modeling–Partial Least Squares (SEM-PLS). Data were collected from Grade 11 and Grade 12 students from senior high schools and vocational high schools across five districts in Toba Regency using a structured questionnaire and a seven-point Likert scale. The findings indicate that Social Media Promotion and Information Quality have positive and significant effects on Brand Awareness. Furthermore, Brand Awareness significantly influences Registration Interest. Social Media Promotion was found to have the strongest effect on Brand Awareness, while Information Quality demonstrated the weakest direct effect on Registration Interest. The structural model shows that Social Media Promotion and Information Quality explain 39.9% of the variance in Brand Awareness, whereas Brand Awareness explains 33.1% of the variance in Registration Interest. These findings support the Hierarchy of Effect theory and highlight the importance of strengthening social media communication and providing high-quality information to increase students' interest in enrolling in higher education institutions in the Danau Toba Region.
This study examines the effect of Good Corporate Governance (GCG) mechanisms on financial distress among technology companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period while controlling for firm size and firm age. The study is motivated by the increasing uncertainty in the technology sector, which heightens the risk of financial distress and underscores the importance of effective corporate governance in maintaining business sustainability This research employed a quantitative approach using secondary data obtained from annual reports and financial statements. The sample consisted of 148 firm-year observations selected through purposive sampling. Financial distress was measured using the Zmijewski model, while the independent variables included the board of commissioners, audit committee, and ownership structure, with firm size and firm age serving as control variables. Data were analyzed using multiple linear regression. The findings reveal that the board of commissioners and audit committee have no significant effect on financial distress. In contrast, ownership structure has a significant positive effect, whereas firm size has a significant negative effect and firm age has no significant effect.
This study aims to examine the effect of family ownership and board independence on dividend policy, with profitability serving as a moderating variable. The research focuses on consumer non-cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. A quantitative research approach was employed using secondary data obtained from companies’ annual reports and financial statements. The sample was selected through a purposive sampling technique, resulting in 120 valid observations that met the predetermined research criteria. The data were analyzed using Statistical Package for the Social Sciences (SPSS) to test the proposed hypotheses. The findings indicate that family ownership has a positive and significant effect on dividend policy, suggesting that greater family ownership is associated with higher dividend distribution. In contrast, board independence does not have a significant effect on dividend policy, indicating that the presence of independent commissioners does not necessarily influence corporate dividend decisions. Furthermore, profitability does not significantly moderate the relationship between family ownership and dividend policy or the relationship between board independence and dividend policy. These findings highlight the importance of ownership structure in determining dividend policy while suggesting that board independence and profitability do not necessarily strengthen the relationships examined in this study.
