OIDA International Journal of Sustainable Development
Open-access peer-reviewed journal
| State-Owned Insurance Holding: The Establishment Impact on The Efficiency and Profit Optimization of State-Owned Insurance Companies | 11-18 |
| Market Justice: Possibility and Necessity | 19-30 |
| Impact of Democracy Quality on Tax Revenue: Direct and Mediating Factors in Indonesia | 31-39 |
| Implementation of Indonesian Government Policy in Improving the Quality of Geographical Indication Products | 39-52 |
| The Impact of Sunda Kelapa Port Development and Operational Policies on the Economy of the Administrative City of North Jakarta | 53-64 |
| The Governance Strategy of the Sumatra Regional Development Bank to Minimize Agency Problems | 65-76 |
| Indonesian Government Procurement Public Policy on Disaster Management | 77-92 |
| Shipping Navigation Service Policy Model in Supporting National Economy | 93-104 |
State-Owned Insurance Holding: The Establishment Impact on The Efficiency and Profit Optimization of State-Owned Insurance Companies
Syah Amondaris 1, Eleonora Sofilda 2, and Muhammad Zilal Hamzah 3
1,2,3 Public Policy Studies, Faculty of Economics & Business,
Universitas Trisakti, Jakarta, Indonesia.
Volume 18, Issue 04, 11-18, 2025.
Abstract: The Indonesian government has established PT Bahana Pembinaan Usaha Indonesia (Persero) as the holding company of several state-owned insurance companies, which aims to support the strength of subsidiaries in fulfilling obligations and increasing efficiency in their governance. The establishment of a holding through government regulation Number 20 of 2020 creates a single governance system so it is hoped that there will be no overlap, especially in risk management. This study aims to analyze and examine the level of efficiency and performance determinants of state-owned insurance companies before and after the implementation of the holding formation. This study uses a quantitative approach using Data Envelope Analysis (DEA) analysis and panel data regression for 2018-2022 consisting of 5 state-owned insurance companies. Based on the results of the study, the efficiency values of Asuransi Jamkrindo, Jasa Raharja Putra, and Asuransi Jasa Indonesia are in the high-efficiency criteria (100%) and the determinants of insurance company performance are influenced by the variables of underwriting results, investment results, operating expenses, gross reinsurance premiums, and other income. The consistency of the efficiency level before and after the issuance of PP No. 20 of 2020 implies that governance factors (ownership) have an influence on the stability of insurance company efficiency through maximizing income, especially underwriting results. In addition, the stability of efficiency in insurance companies will also increase the company’s trust in the real sector through the ability of insurance companies to handle the risks covered.
Keywords: State-owned Insurance, Holding Company, Efficiency, Profitability.
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Market Justice: Possibility and Necessity
Guntur Freddy Prisanto
STIKOM InterStudi, Jakarta, Indonesia.
Volume 18, Issue 04, Pg. 19-30, 2025
Abstract: This research proposes a prerequisite for social order that the market requires is justice. The market is acknowledged as a social construct with specific mechanisms that allow people to act rationally without necessarily having such rationality. The anthropological premise that people are homo economicus and homo rationale who act in their own best interests is a prerequisite for this type of market. The perfect model of a competitive market is justified through the formulation of mathematical economic science.
The incapability of individuals to participate in the competitive market is the fundamental problem in the justice theory. In this case, equality and freedom served as the cornerstones of the dispute over justice, which could only be resolved by a theory of justice that could account for people’s ability to participate in the market.
Compared to other approaches that solely highlight one aspect—either equality or freedom—Amartya Sen’s capabilities approach in his theory of justice proved to be the most effective means of resolving the complex relationship between freedom and equality. In addition to serving self-interest, the relevant anthropological assumption also promotes freedom, morality, and justice. As a condition of social order, justice is necessary to reject domination and exploitation – either in the relationship between the owners of capital and the labor, or between the manufacturers and the consumers. The market ought to be accessible.
Keywords: Justice, efficiency, poverty, capability, self-interest, rationality.
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Impact of Democracy Quality on Tax Revenue: Direct and Mediating Factors in Indonesia
Arif Nugrahanto 1, Eleonora Sofilda 2, Syafri 3
1 Doctoral Program in Economics, Public Policy Concentration, Trisakti University, Indonesia.
1 Polytechnic of State Finance STAN, Jakarta, Indonesia.
2,3 Trisakti University, Jakarta, Indonesia.
Volume 18, Issue 04, Pg. 31-38, 2025.
Abstract: This study examines the relationship between democracy quality and tax revenue in Indonesia, focusing on direct impacts and mediating factors such as economic growth, government spending, and tax compliance. Utilizing panel data from 2010 to 2020 and fixed effects models, we find a positive direct effect of democracy on tax revenue. However, this effect diminishes when controlling for other factors. Our findings reveal that economic growth, government spending, and tax compliance significantly influence the democracy-tax revenue relationship, often overshadowing the direct effect. These insights highlight the need for a holistic policy approach to enhance tax revenue in the context of democratic governance.
Keywords: Democracy quality, Tax revenue, Economic growth, Government spending, Tax compliance, Panel data analysis, Indonesia
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Implementation of Indonesian Government Policy in Improving the Quality of Geographical Indication Products
Fajar Sulaeman Taman 1, Muhammad Zilal Hamzah 2*, Freddi Harris 3
1,2,3 Public Policy Studies, Faculty of Economics & Business, Universitas Trisakti, Jakarta, Indonesia.
1Ministry of Law and Human Rights Republic of Indonesia.
Volume 18, Issue 04, Pg. 39-52, 2025.
Abstract: In the era of globalization and free trade, one of the most important in Intellectual Property is geographical indications (GI) which can be said to be “GI is the new oil” in capturing food market share in the world. The important role of the government, which is very much needed in improving, marketing, and supporting the results of geographical indication products, is the key to the success of a product that is in the name of the country in the eyes of the world and national markets and can survive it. Appropriate policies are needed for the welfare of the people who carry out GI product businesses. Moreover, that they can continue to produce goods of reputation, character, and quality which have been produced for generations in that area. Bearing in mind that, in the field of support, several regional governments still do not understand and include work programs on the potential of geographical indication products as superior products in their respective regions.
The aim of this research is to examine and analyze the role of the government in carrying out strategic approaches to registration, commercialization, and law enforcement for the Geographical Indication Protection Community (GIPS). This research uses a qualitative approach, where data collection is carried out through Focus Group Discussion (FGD) activities. This data collection involves stakeholders such as: regulators, academics, geographical indication experts both within the country and abroad, international institutions that handle geographical indications, and MPIG. Technical analysis was carried out using the NVivo. The result shows that: (i). Local/regional governments have not played an important role in creating awareness among local communities about certain GI products. This is demonstrated through the existence of regulatory diversification; (ii). Implementation of government policies in improving GI products is still not optimal. This requires several strategies that can be implemented in relation to GI product branding; and (iii). Cooperation between the central and local governments and related agencies is part of realizing stakeholder synergy regarding the implementation of GI, socializing the government’s role in conducting outreach through several programs aimed at increasing public awareness.
Keywords: Public Policy, Geographical Indications, Export, Agriculture
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The Impact of Sunda Kelapa Port Development and Operational Policies on the Economy of the Administrative City of North Jakarta
Sugeng Priyatno 1, Muhammad Zilal Hamzah 2, Eleonora Sofilda 3, Dini Hariyanti 4
1,2,3,4 Universitas Trisakti, Indonesia.
1 Ministry of Transportation-Republik, Indonesia.
Volume 18, Issue 05, Pg. 53-64, 2025
Abstract: World trade transportation is still dominated by transportation by sea, where 90% of goods carried in world trade transactions are by ship (shipping). Apart from that, the increase in trade activity in the form of world cargo is a manifestation of the development of more modern port facilities for handling cargo operations. The growth of trade by sea will continue to experience positive growth in the coming years. Sunda Kelapa Port is also a port whose development continues to increase, so it is necessary to develop port infrastructure related to economic growth and its contribution to the GRDP of the city of North Jakarta. This research aims to examine: (i). What is the direction of government policy for the development and operations of Sunda Kelapa Port and its impact on the economic growth of the North Jakarta Administrative City; (ii). The benefits expected by stakeholders from the development and operational policies of Sunda Kelapa Port in North Jakarta towards the growth of the economic sector and increased investment; (iii). What is the impact of the Sunda Kelapa Port development policy on the economy of the North Jakarta Administrative City, and other business sectors; and (iv). The extent to which a Port Master Plan (RIP) is needed in the context of government policy regarding the development and operations of Sunda Kelapa Port. This research was designed with a qualitative approach. The qualitative approach used is to combine two analytical techniques, namely coding analysis and Systematic Literature Review (SLR). This research data consists of primary data and secondary data. Data was collected through observation and focus group discussions. This research concludes that: (i). Several policies are most dominant, namely those related to: (a). Historical tourist sites; (b). Interconnectivity; and (c). Human resource development, which will have an impact on economic growth in North Jakarta; (ii). The hopes of the stakeholders are related to making the Sunda Kelapa port a port that has high historical value (heritage tourism port), so that it can increase the competitiveness of Indonesian tourism and culture for tourists; (iii). For the North Jakarta City Administrative City, this will increase the flow of goods and services which can encourage increased exports and imports as well as attract foreign investment, strengthen maritime connectivity and create jobs; and (iv). A Port Master Plan (RIP) is very much needed in the context of government policy regarding the development and operations of Sunda Kelapa Port. The recommendation from this research is that a Port Master Plan (RIP) is really needed in the context of government policy regarding the development and operations of the Sunda Kelapa Port, which in turn can have implications for improving the quality of coordination and synergy of stakeholders in responding to the challenges of developing the Sunda Kelapa Port.
Keywords: Port, Maritime Transportation, Port Master Plan. Qualitative Research
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The Governance Strategy of the Sumatra Regional Development Bank to Minimize Agency Problems
Syaiful Azhar 1, Muhammad Zilal Hamzah 2, Rifki Ismal 3
1,2,3 Universitas Trisakti, Indonesia.
Volume 18, Issue 04, Pg. 65-76, 2025
Abstract: Banks play an important role in the economy as an intermediary institution by storing funds from the community and then channeling them back in the form of credit. Currently, the development of the financial sector, banking, is one of the determinants of output growth in all countries, including Indonesia. This strategic role is shown through the growth trend of the banking industry; both in terms of number, market share, variety of operations, and products offered to the public. In addition to general banks that operate for national coverage, there are also regional development banks (BPD) that operate in each level 1 region and Rural Credit Banks (BPR) in levels 1 and 2 in Indonesia. This study aims to examine: (i). Is the Principal Agency Theory indicated in Governance at BPD in the Sumatra Region; (ii). What are the challenges and critical analysis of Governance at BPD in the Sumatra Region; and (iii). What is the strategy to minimize agency problems in Governance at BPD in the Sumatra Region? This study uses a qualitative approach with the Grounded Theory type. Data were collected through FGD activities and analyzed using the NVIVO device. From the results and analysis carried out, it can be concluded that: (i). There are still agency problems in the implementation of governance. This can at least be proven by the emergence of several nodes such as: ‘Political Intervention’, “Governor’s Terms of Office”, and “Dynamic Turnover”. The difference in interests causes problems, namely asymmetric information where managers (management/agents) know all the company’s information better than shareholders. This will cause agency costs, one of which is related to supervision costs; (ii). Several mapped constraints show the dominance of HR and Technology constraints. The HR in question refers to increasing competence so that it has an impact on a more transparent governance process. The informant indicated weak supervision of HR who have good performance; and (iii). There are several strategies that can be used to minimize agency problems in the implementation of BPD governance in Sumatra, such as: Transparency, Investment, Joint Business Groups, and so on. This study recommends that to minimize asymmetric information, and improve the quality of human resources, improvements related to transparency, human resource supervision, internal control, and service instructions for inverbal explanation, must be implemented.
Keywords: Governance Strategy, Agency Problem, Regional Development Bank, Qualitative Research
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Indonesian Government Procurement Public Policy on Disaster Management
Bonatua Silalahi 1, Muhammad Zilal Hamzah 2, Tri Kunawangsih P 3, Dini Hariyanti 4
1,2,3,4 Universitas Trisakti, Indonesia.
Volume 18, Issue 04, Pg. 77-92, 2025.
Abstract: The unique characteristics of procurement in disaster emergency management are the main obstacle in implementing existing policies, thus requiring flexibility. Another obstacle is the aspect of availability of goods and the moral aspect of individual providers, which causes high prices. From a budget perspective, the procurement process is very good, but the implementation process turns out that operators are still guided by procurement policies for normal conditions. Regarding the quality of goods distribution services, there are problems related to unpredictable delivery times considering the frequent disruptions to infrastructure and facilities on the way. In the coordination aspect, auditors often state that there are price irregularities so that providers are forced to return a number of overpaid claims. This research aims to analyze and review; (i) the implementation of the Disaster Management Goods/Services Procurement Budget process in Indonesia; (ii) how quality control against compliance with standards related to the effectiveness and safety of disaster management operations; and (iii) how stakeholder coordination and transparency in the implementation of Procurement in Indonesia.
This research uses a qualitative approach where primary data is obtained from interviews through focus group discussions (FGD) and informants are selected and divided into 5 (five) categories: Regulators, Operators, Providers, Observers, and Associations. The results of the interview transcription were coded and analyzed by using NVivo software.
The research results show that there are problems with obstacles to the implementation of current regulatory policies, so the principles of value for money procurement regulated in presidential regulations often cannot be fulfilled. Procurement policies in disaster emergencies need to be created separately from procurement under normal conditions as regulated through presidential regulations. Procurement policies in disaster emergencies should be in accordance with the principles of speed and accuracy and priorities as mandated in the law on disaster management. This research recommends regarding Flexibility, that Procurement in Disaster Management be categorized as Procurement exempted from Presidential Decree/16/2018 and become one of the Norms amended through the Disaster Management Bill. Regarding Stock Availability, it is expected that the norms and implementation guidelines that will be made will primarily regulate the Determination of the Type of Certain Conditions Needed for Goods in disaster-affected areas and provide an Assignment to PT. Pos as a State Own Enterprise engaged in the National Network Delivery Service sector to distribute BKKT from the Supply Chain closest to the location of refugees. With this policy, there will be no shortage of goods so that price irregularities can be avoided both on the procurement side of goods and delivery services. Finally, regarding Procurement Exceptions in Disaster Management, The Principle of Fast and Precise Disaster Management and Priority is regulated by the PPU at the Law level. So its hierarchy is much higher than the PPU at the Presidential Regulation level which regulates the Procurement Principle.
Keywords: Procurement, Disaster Management, Social Affair Ministry, Budget, NVIVO
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Shipping Navigation Service Policy Model in Supporting National Economy
Muhammad Anto Julianto 1, Eleonora Sofilda 2, Muhammad Zilal Hamzah 3
1,2,3 Universitas Trisakti, Indonesia.
1 Ministry of Transportation-Republic of Indonesia.
Volume 18, Issue 04, Pg. 93-104, 2025.
Abstract: Shipping safety is very important because ignoring it can result in ship accidents that have an impact on fatalities, environmental damage, and economic activities. Furthermore, ship accidents threaten maritime growth and investment in the shipping sector, besides that sea accidents have a negative impact on humans, the marine environment, property, and activities on board and on land. The impacts caused by accidents vary, ranging from minor injuries to death, from minor damage to very severe damage to the environment and property. This cannot be separated from the navigation functions to determine the position and/or course of the ship, notify of dangers/obstacles to shipping, indicate the boundaries of safe shipping lanes, mark the dividing lines of ship traffic, indicate areas and/or special activities in the waters and also the boundaries of a country. This study aims to determine and analyze: (i). Relationship between Standard and Policy Targets, Resources, Inter-Organizational Communication of Implementers and Strengthening Activities, Socio-Economic and Political Conditions, Characteristics of Existing Implementing Organizations, and Implementer Attitudes towards Shipping Navigation Service Policy; (ii). Shipping Navigation Service Policy Model that supports the National Economy reviewed based on suggestions and input from stakeholders/experts; and (iii). Impact of Shipping Navigation Service Policy in Indonesia in supporting the national economy.
The approach used in this study is a mixed method consisting of quantitative and qualitative approaches. For this study, the research location was 25 Type A and B Navigation District Offices. The 310 respondents were representatives of regulators, port operators, service providers, and entrepreneurs involved in shipping safety.
The conclusion of this study shows that: (i). There is a positive relationship between the variables of Standards and Policy Targets, Resources, Inter-Organizational Communication of Implementers and Strengthening Activities, Socio-Economic and Political Conditions, Characteristics of the Existing Implementing Organization and the Attitude of the Implementer with the Shipping Navigation Service Policy; (ii). The Shipping Navigation Service Policy Model has a positive influence on the national economy. If the policy model increases by 1%, it will boost the National Economy by 0.71%.; (iii). The Shipping Navigation Service Policy will provide safety assurance to ships sailing, provide maritime protection so as to prevent accidents and oil spills that are detrimental, thus encouraging maritime trade activities and port activities through export-import activities that have an impact on the national economy; and (iv). Informants suggested the need for regulation of equipment reliability and use of technology and digitalization, HR Competence, regulation/Legality, stricter law enforcement for violators of shipping navigation rules, organizations that have financial/budget independence, the existence of mature and detailed equipment Procurement/maintenance Planning, welfare and rewards, government relations and support, coordination between stakeholders, increasing the role of supervision by KSOP, and involving the maritime community in socialization and implementation.
The recommendations of this study are: (i). There needs to be a policy related to the organization implementing Shipping Navigation Services that can improve service performance by being able to manage budget efficiency, not being dependent on the APBN, and having the independence to procure and operate Shipping Navigation Service equipment by optimizing revenue; and (ii). The implementation of the Shipping Navigation Services Policy is greatly influenced by Compliance in carrying out supervision and enforcement of implementation in the field. On the other hand the function of compliance with the implementer the regulations are implemented by the Harbor Master and Port Authority Office. So it is necessary to regulate the supervision and enforcement functions by mitigating the risk of ineffectiveness and inefficiency because on the other hand, the Navigation District office has the authority to develop but compliance supervision is carried out by other work units.
Keywords: Navigation Services, Economy, Shipping Safety, Business Unit
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