Impact of R&D, E-Commerce Employees, and Transactions on Economic Growth in Indonesia

Gebrella Nadia Sumahir, Heru Wahyudi, Tiara Nirmala — Wed, 21 Jan 2026 00:00:00 +0700

Purpose: This study aims to examine the impact of Research and Development (R&D) investment, e-commerce company workforce, and e-commerce transaction volume on Indonesia's economic growth from 2010Q1 to 2020Q4.

Methods: The study employs Ordinary Least Squares (OLS) regression with time-series data, using quarterly data from 2010 to 2020. The analysis was performed using E-views 9 software, following normality, autocorrelation, heteroscedasticity, and multicollinearity tests to ensure the validity of the results.

Results: The study found that R&D investment, e-commerce workforce, and transaction volume significantly impact Indonesia’s economic growth, both individually and collectively. R&D investment showed a positive effect, with an increase in R&D contributing 0.615% to economic growth, while e-commerce workforce and transaction volume also had positive effects on growth.

Conclusion: The results indicate that increasing R&D investment, e-commerce employment, and transaction volume can significantly boost Indonesia's economic growth, demonstrating the importance of these factors in driving digital economy growth.

Limitations: This research is limited by the scope of its focus on R&D investment, e-commerce workforce, and transaction volume, and it is confined to data from Indonesia alone. Further research could explore comparative studies across different countries.

Contribution: The findings provide valuable insights for policymakers and stakeholders aiming to enhance economic digitization in Indonesia, offering a data-driven approach to adjusting policies for sustainable economic growth.

Capital Structure and Banking Performance in Dual Banking System in Indonesia

Vera Melinda, Ranti Wiliasih, Mohammad Iqbal Irfany, Daffa Aqomal Haq — Wed, 14 Jan 2026 00:00:00 +0700

Purpose: The study aims to investigate the impact of capital structure on the financial performance of Indonesia's dual banking system, encompassing Conventional Commercial Banks (BUK) and Sharia Commercial Banks (BUS).

Methodology/Approach: Utilizing panel data regression, the study examined 9 Conventional and 9 Sharia banks in Indonesia from 2013 to 2019. Key metrics included ROA, ROE, EAR, DER, company size, and economic growth.

Results/Findings: EAR, DER, and economic growth positively and significantly impacted the ROA and ROE of conventional banks. For Sharia banks, company size and economic growth had a positive impact, while EAR and DER negatively influenced ROA and ROE.

Conclusion: This research highlights the differing impacts of capital structure on financial performance between conventional and Sharia banks in Indonesia, demonstrating that while economic growth benefits both, the influence of capital structure varies, especially for Sharia banks.

Limitations: The study is limited by the number of banks sampled (9 BUKs and 9 BUSs) and the timeframe (2013-2019), which may affect the generalizability of the results.

Contribution: Offers critical insights for policymakers and bankers in optimizing capital structure strategies in Indonesia's dual banking system.

Dirham: Journal of Sharia Finance and Economics

Impact of R&D, E-Commerce Employees, and Transactions on Economic Growth in Indonesia

Capital Structure and Banking Performance in Dual Banking System in Indonesia