ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN)
https://jmbe.wcu.edu.az/ Slot777 ECOBISMA (Journal of Economics, Business and Management) is published every two years, namely in January and June, by the Faculty of Economics and Business, University of Labuhanbatu. ECOBISMA (Journal of Economics, Business and Management) aims to: 1. Publish the results of the latest research in the fields of Economics, Business, Management and or Entrepreneurship. 2. Publish only research results in the field of Economics (such as Macro / Micro related to Economics and Business). Management (such as Marketing Management, Financial Management, Personnel Management, Operations / Production Management, Business Management, etc.) and or Digital Marketing, Digital Economy and Entrepreneurship as scientific development. ECOBISMA accepts papers with the above objectives and scope. The editorial board decides which papers will be published in ECOBISMA after being reviewed by designated reviewers (double blind review). Authors will be notified of comments and suggestions from the reviewers. ECOBISMA (Journal of Economics, Business and Management) (p-ISSN: 2477-6092 and e-ISSN: 2620-3391) is an Open Access Journal, which can be accessed and read for free on the Internet. 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Published by the Faculty of Economics and Business, University of Labuhanbatu, North Sumat
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. ECOBISMA Journal uses an exclusive license agreement. Authors will retain copyright along with scientific usage rights and the Labuhan Batu College of Economics will be granted publishing and distribution rights. Open access authors retain copyright of their papers, and all open access articles are distributed under the terms of the Creative Commons Attribution License (CC-BY-SA), which allows others to distribute and copy articles provided the original work is properly cited. Users cannot represent authors as endorsing adaptations of their articles, and do not alter articles in such a way as to damage the authors' honor or reputation.
IMPACT OF MACROECONOMIC VARIABLES AND GLOBAL STOCK INDICES ON THE INDONESIAN COMPOSITE INDEX (IHSG): 2017–2023
PURPOSE - This study analyzes the influence of macroeconomic variables and global stock indices on the IHSG during 2017–2023. The research is motivated by IHSG fluctuations amid changes in inflation, interest rates, exchange rates, and global market dynamics, reflecting investor responses to both domestic and international economic conditions. Prior studies have produced inconsistent results, highlighting the need for further investigation. METHODOLOGY - This research applies a quantitative approach using secondary monthly data from January 2017 to December 2023, totaling 84 observations. The independent variables consist of inflation, interest rates, exchange rates, the Hang Seng Index, and the Nikkei 225 Index, while the IHSG serves as the dependent variable. Data analysis includes classical assumption tests, multiple linear regression, model feasibility testing, and partial hypothesis testing using the t-test. FINDING - The findings reveal that inflation and the Nikkei 225 Index have a positive and significant effect on the IHSG, whereas the exchange rate has a negative and significant impact. Interest rates and the Hang Seng Index show positive and negative relationships, respectively, but are not statistically significant. These results suggest that domestic price stability and Japan’s economic conditions significantly influence the Indonesian stock market, while exchange rate volatility tends to weaken IHSG performance
Copyright (c) 2026 ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN)
THE CONTRIBUTION OF PANCASARI TOURISM VILLAGE TO SUSTAINABLE RURAL ECONOMIC DEVELOPMENT
PURPOSE - This study examines the contribution of tourism villages to achieving sustainable rural economic development, the strategies used to strengthen this contribution, the challenges encountered, and the roles of stakeholders in supporting sustainable outcomes. METHODOLOGY - A descriptive qualitative approach was applied in Pancasari Tourism Village, Sukasada Subdistrict, Buleleng Regency. The village was selected for three reasons. First, Pancasari is officially designated as a tourism village under the Buleleng Regent’s Decree No. 430/239/HK/2022. Second, Sukasada Subdistrict recorded the lowest Village Development Index (IDM) in Buleleng Regency based on 2023 data from the Ministry of Villages and Rural Development. Third, among ten tourism villages in Sukasada Subdistrict, Pancasari has the highest IDM score and the largest number of tourist attractions. Participants included village government officials, such as the village head, village secretary, directors of village-owned enterprises, and community representatives managing tourism sites. Data were collected through interviews and documentation. FINDING - The findings indicate that Pancasari Tourism Village achieved a contribution score of 0.32 toward sustainable rural economic development, categorized as low. Improvement efforts include organizing poverty assistance data, facilitating microenterprise access to capital through Bank Rakyat Indonesia, and encouraging women’s participation. Key stakeholders include village governments, local communities, and village-based financial institutions supporting local development
THE EFFECT OF LEADERSHIP STYLE AND ORGANIZATIONAL COMMITMENT ON EMPLOYEE PERFORMANCE AT CV. MAJU SEJAHTERA INTI
PURPOSE - This study aims to analyze the influence of leadership style and organizational commitment on employee performance at CV. Maju Sejahtera Inti. METHODOLOGY - The study used a quantitative survey design with all 34 employees as census sampling. Data were collected through a structured questionnaire and analyzed using SPSS version 27, including data quality testing and multiple linear regression. FINDING - The results showed that leadership style has a positive and significant effect on employee performance, indicating that the leadership's ability to provide clear direction, motivation, role model, and effective communication can improve employee performance. Organizational commitment also has a positive and significant effect, indicating that employees sense of belonging and willingness to contribute improve their performance. Simultaneously, leadership style and organizational commitment have a significant effect on employee performance, emphasizing the importance of an integrated approach
THE INFLUENCE OF JOB SATISFACTION AND WORK DISCIPLINE ON EMPLOYEE PERFORMANCE
PURPOSE - This study aims to analyze the influence of job satisfaction and work discipline on employee performance at Citra Oleh-Oleh Bandar Lampung. METHODOLOGY - This study uses a quantitative approach with a causal associative research design. The population in this study were all 33 employees of Citra Oleh-Oleh Bandar Lampung, with a sampling technique using saturated sampling. Data were collected through a questionnaire with a Likert scale and analyzed using multiple linear regression analysis with the help of the SPSS program. FINDING - The results of the study indicate that job satisfaction has a positive and significant effect on employee performance, work discipline has a positive and significant effect on employee performance, and job satisfaction and work discipline simultaneously have a positive and significant effect on employee performance at Citra Oleh-Oleh Bandar Lampung. These findings indicate that increasing employee job satisfaction and work discipline can encourage optimal performance improvement. Therefore, companies are advised to continue to pay attention to aspects of job satisfaction and the consistent implementation of work discipline to improve employee performance and support the achievement of company goal.
THE EFFECT OF CELEBRITY ENDORSEMENTS AND PROMOTIONS ON PURCHASE DECISIONS THROUGH PURCHASE INTEREST
PURPOSE - This study aims to examine the influence of celebrity endorsements and promotions on purchasing decisions, with purchase intention as an intervening variable among consumers of Nadia Roti Bakery Store in Bandar Lampung. METHODOLOGY - This study used a quantitative approach with a survey method. The sampling technique used purposive sampling with the criteria of respondents being at least 18 years old, having been exposed to celebrity endorsements or promotions, and having made at least one purchase. The sample size was 154 respondents determined using the Slovin formula with a 5% error rate. Data were analyzed using regression analysis and mediation tests to examine the relationship between variables. FINDING - The results showed that celebrity endorsements and promotions had a positive and significant effect on purchase intention. In addition, celebrity endorsements, promotions, and purchase intention also had a positive and significant effect on purchase decisions. The results of the mediation test showed that purchase intention was able to mediate the influence of celebrity endorsements and promotions on consumer purchasing decisions. The findings of this study indicate that the use of credible public figures and effective promotional strategies can increase consumer purchasing intention and purchase decisions
THE EFFECT OF WORKLOAD AND EMPLOYEE ENGAGEMENT ON EMPLOYEE JOB SATISFACTION AT BUN KOPI IN BANDAR LAMPUNG
PURPOSE - This study aims to analyze the effect of workload and employee involvement on job satisfaction at BUN Kopi Bandar Lampung, focusing on how internal work conditions influence employee attitudes and well-being. METHODOLOGY - Population study This consists of from all over BUN Kopi Bandar Lampung workers (24 hours) spread across three outlets: BUN Kopi Kedaton, BUN Kopi Rawa Laut, and BUN Kopi UNILA, with a total of 64 employees. Approach taking samples used is saturation sample (census), which means all over population used as respondents. Package for the Social Sciences (SPSS) software version 30. Descriptive tests, multiple linear regression, and statistical tests hypothesis partial and simultaneous included among approach analysis of the data used. FINDING - Findings show that burden work no own impact substantial to satisfaction work employees. Meanwhile that, involvement employee proven own beneficial and sufficient impact big to satisfaction Work employees. At BUN Kopi in Bandar Lampung, satisfaction work employee influenced in a way positive and significant by load work and involvement employees. Findings this show that involvement employee with work and business important in increase satisfaction work, so that management need emphasize management source power man.
WORK READINESS OF INDONESIAN STUDENTS: PHENOMENOLOGICAL STUDY OF INTERNATIONAL INTERNSHIP EXPERIENCE AND WORK MOTIVATION IN TAIWAN
PURPOSE - This study explores how international internship experiences in Taiwan shape work readiness and work motivation among Indonesian business students from STIEPARI Semarang. Limited research examines the phenomenological dimensions of how students subjectively experience international internships, particularly in the Indonesia-Taiwan educational mobility pathway. METHODOLOGY - A qualitative phenomenological design employed purposive sampling of seven STIEPARI students: three currently interning in Taiwan and four returned to Indonesia. Data were collected through semi-structured interviews (45-60 minutes) guided by 25 open-ended questions across nine thematic domains. Braun and Clarke's (2006) six-phase thematic analysis was applied, with trustworthiness established through member checking, thick description, audit trails, and reflexivity journaling. FINDING - Five themes emerged: (1) international internship as transformative cultural immersion; (2) multidimensional skill development through authentic work engagement; (3) cross-cultural challenges as catalysts for resilience and adaptability; (4) work motivation evolution from extrinsic to intrinsic orientations; and (5) enhanced work readiness integrating competencies with psychological confidence and global cultural intelligence. Findings validate Experiential Learning Theory and Self-Determination Theory while extending work readiness frameworks to include global competence as a critical fifth dimension, offering implications for higher education institutions designing international programs
OPTIMIZATION OF HUMAN RESOURCE PERFORMANCE THROUGH BEHAVIORAL AND ENVIRONMENTAL APPROACHES
PURPOSE - This research aims to analyze the influence of competence and work environment on employee performance by considering the role of work discipline as a mediator. METHODOLOGY - The method used in this research is a quantitative method with a sampling technique using sensus sampling and 100 employees were obtained from PT. Genco Furniture Indonesia as research respondents. Primary data was obtained through the distribution of questionnaires to respondents and processing the data using SEM-PLS analysis with SmartPLS 4 data processing program. FINDING - The results of this research reveal that competence directly has a positive and significant influence on employee performance, as well as a positive and significant influence on work discipline. Apart from that, the work environment also shows a positive and significant influence on employee performance, and a positive and significant influence on work discipline. Work discipline itself has been proven to have a positive and significant influence on employee performance. Furthermore, this research shows that indirectly, competence has a positive and significant influence on employee performance through work discipline, as well as the work environment which has a positive and significant influence on employee performance through work discipline.
THE MEDIATING ROLE OF ELECTRONIC WORD OF MOUTH IN THE RELATIONSHIP BETWEEN CONTENT MARKETING AND PURCHASE DECISIONS ON TIKTOK SHOP
PURPOSE - This study aims to analyze the influence of content marketing on purchase decisions and to test the role of E-WOM as a mediating variable in this relationship among TikTok Shop users. Conceptually, this study employs the Stimulus–Organism–Response (SOR) framework, positioning content marketing as the stimulus, E-WOM as the socio-psychological mechanism, and purchase decisions as the behavioral response. METHODOLOGY - The research method used is a quantitative approach with an explanatory design. Data were collected via an online questionnaire administered to TikTok Shop users selected using purposive sampling, with 100 respondents. Data analysis was conducted using SEM-PLS with the assistance of SmartPLS software to test direct and indirect relationships among variables FINDING - The results revealed that content marketing significantly influenced purchase decisions (β = 0.265, p = 0.006) and E-WOM (β = 0.595, < 0.001). Furthermore, E-WOM significantly influenced purchase decisions (β = 0.561, p < 0.001). Regarding indirect relationships, E-WOM significantly mediated the relationship between content marketing and purchase decisions, with an indirect effect coefficient of β = 0.334 (p < 0.001). These findings indicate that E-WOM strengthens the influence of content marketing on purchase decisions among TikTok Shop users
FINANCIAL BEHAVIOR AND FINANCIAL WELL-BEING AMONG WORKING STUDENTS
PURPOSE - This study examines the relationships between financial literacy, self-control, financial behavior, financial stress and financial well-being among working university students in Batam City. Prior research has shown inconsistent findings regarding how these variables relate to financial well-being. Specifically, this study investigates both direct and indirect effects through financial behavior as a mediator. This research also aims to identify which factors contribute most significantly to improving the financial well-being of working university students. METHODOLOGY - A quantitative approach with explanatory research was used in this study. Data were collected from 418 working university students in Batam City via an online questionnaire using purposive sampling with a 1-5 Likert scale. Data analysis was conducted using PLS-SEM. FINDING - The results reveal that financial literacy together with self-control shapes financial behavior. However, financial literacy and self-control exert no influence on financial well-being. Financial stress significantly and negatively harms financial well-being, while financial behavior shows no significance in influencing financial well-being. Furthermore, financial behavior fails to mediate the relationship between financial literacy and self-control on financial well-being. These findings suggest that reducing financial stress is more relevant. Therefore, institutions should prioritize reducing financial stress through providing direct support such as scholarships, affordable micro-loans and part-time job programs, rather than focusing solely on financial literacy education.
EXAMINING THE EFFECT OF GREEN MARKETING ON CUSTOMER LOYALTY: THE MEDIATING ROLE OF CUSTOMER SATISFACTION
PURPOSE - This study examines the impact of green marketing on consumer loyalty, with consumer satisfaction acting as a mediating variable among customers of The Body Shop categories Body Mist products in Surabaya. The study is based on the growing importance of sustainable business practices in influencing consumer behavior in the cosmetics industry. METHODOLOGY - This research employs a quantitative approach using Structural Equation Modeling–Partial Least Squares (SEM-PLS) as the data analysis technique. The sample consists of 150 respondents selected through purposive sampling. Data were collected using structured questionnaires designed to measure green marketing, consumer satisfaction, and consumer loyalty variables. FINDING - The results indicate that green marketing has a positive and significant effect on both consumer satisfaction and consumer loyalty. Sustainable practices such as recyclable packaging, animal-free campaigns, refill programs, and environmentally supportive marketing activities contribute to positive consumer perceptions and stronger emotional connections with the brand. Furthermore, consumer satisfaction significantly influences consumer loyalty and acts as a mediating variable in the relationship between green marketing and consumer loyalty. These findings imply that implementing sustainable marketing strategies can serve as a key competitive advantage in enhancing long-term consumer loyalty in the cosmetics sector
EXPERIENTIAL MARKETING AND USER-GENERATED CONTENT AS PREDICTORS OF REPURCHASE INTENTION IN LOCAL-CULTURE RESTAURANTS
PURPOSE - The increasingly competitive culinary industry in Indonesia has encouraged restaurants to strengthen customer retention through experience-based and digital marketing strategies. This study aims to examine the partial and simultaneous effects of experiential marketing and user-generated content on consumer repurchase intention at a local-culture-based experiential restaurant in Bandung, West Java. METHODOLOGY - This study employed a quantitative approach with a cross-sectional explanatory survey design. Data were collected through structured questionnaires from 170 valid respondents who had visited the restaurant and had been exposed to related UGC. The data were analyzed using multiple linear regression with SPSS. FINDING – The results show that experiential marketing has a positive and significant effect on RI (β = 0.514; t = 14.286; p < 0.001). User-generated content also has a positive and significant effect on RI (β = 0.541; t = 15.019; p < 0.001), making it the slightly stronger predictor. Simultaneously, experiential marketing and user-generated content significantly predict RI (F = 437.589; p < 0.001) with strong explanatory power (Adjusted R² = 0.838). These findings indicate that authentic in-store experiences and peer-generated digital content complement each other in encouraging consumer repurchase intention.
ESG DISCLOSURE, GREEN INTELLECTUAL CAPITAL, AND FIRM VALUE: THE MODERATING ROLE OF ENVIRONMENTAL RISK
PURPOSE - This study aims to analyze the effect of Environmental, Social, and Governance (ESG) Disclosure and Green Intellectual Capital (GIC) on Firm Value, with Environmental Risk as a moderating variable. METHODOLOGY - This study employs a quantitative research design with a moderating analysis approach. The data utilized consists of secondary panel data (longitudinal) gathered from the annual reports and sustainability reports of companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2025. Purposive sampling balanced total of 60 observations. Data analysis was performed using EViews 9.0 through the Fixed Effect Model (FEM) with a Cross-Section Weight approach to address heteroscedasticity. FINDINGS - The empirical results indicate that, to some extent, neither ESG Disclosure ($p = 0.25845$) nor Green Intellectual Capital ($p = 0.1136$) has a positive or significant direct effect on Firm Value in the Indonesian capital market. Furthermore, Environmental Risk does not moderate the relationship between ESG Disclosure and Firm Value ($p = 0.46445$), suggesting that market participants still perceive ESG reporting merely as regulatory compliance rather than a risk-mitigation strategy. However, a crucial finding reveals that Environmental Risk significantly strengthens the positive effect of Green Intellectual Capital on Firm Value ($p = 0.0207$, with an interaction coefficient of $0.201993$).
DIGITAL READINESS, DIGITAL LEADERSHIP, AND ORGANIZATIONAL CAPABILITIES AS DRIVERS OF ORGANIZATIONAL PERFORMANCE: EVIDENCE FROM THE BROADCASTING INDUSTRY
PURPOSE - This study investigates how digital readiness, digital leadership, and organizational capability affect organizational performance at JTV East Java. As regional broadcasters confront rapid digital disruption, it is essential to understand how readiness, leadership, and internal capabilities together shape performance outcomes—an area that remains underexamined in the Indonesian broadcasting context. METHODOLOGY - This study used a survey with a quantitative explanatory design to identify factors affecting organizational performance. A 24-item online questionnaire yielded 105 valid responses from 118 JTV East Java employees (an 89% response rate). Instrument validity and reliability were established using Pearson’s r (r = 0.190) and a Cronbach’s alpha above 0.60. Before performing multiple linear regression in SPSS version 27, standard assumption checks for normality, heteroscedasticity, and multicollinearity were performed to confirm the data were suitable for analysis. FINDING - All three variables partially influence Organizational Performance positively and significantly: Digital Readiness (t = 4.378; p < 0.001; β = 0.393) is the most dominant predictor, followed by Organizational Capability (t = 3.348; p = 0.001) and Digital Leadership (t = 2.911; p = 0.004). Simultaneously, the three variables explain 82.3% of the variance in Organizational Performance (F = 156.715; p < 0.001; R² = 0.823). These findings imply that JTV East Java should prioritize investments in digital infrastructure, cultivate digital leadership, and strengthen organizational adaptive capabilities to sustain performance amid ongoing digital transformation in the broadcasting industry.