Silviana Pebruary

Macroeconomic policy (fiscal and monetary) dynamics are interesting to analyze, especially considering corporate performance. This paper aims to determine the effect of macroeconomic policy on the company’s profit rate. Effectiveness of tax revenue (ETAX), realization of tax revenue (RTAX), Bank of Indonesian rate (BIRT), investment growth (INVG), realization of investments (RINV), infrastructure fund allocation rate (INFR), and realization of infrastructure funds (RINF) are macroeconomic policy variables. This study uses a sample of 256 companies listed on the Indonesia Stock Exchange (IDX) in 2005–2019. This paper employs such methods as GMM, using Wald-test and Sargan’s test. GMM estimator result shows that the instrument of infrastructure fund realization policy (RINF), investment growth (INVG), and investment realization (RINV) affect the company’s profit rate (PROF). Therefore, companies need to pay attention to the government development plans, investment growth, and investment realization, which can improve company performance. The result, government’s development for the 2005–2009 and 2015–2019 periods shows a significant difference in companies’ ability to generate profits.

Acknowledgments
We would like to thank the Department of Management, Faculty of Economics and Business, Universitas Islam Nahdlatul Ulama Jepara (Unisnu), and the Institute of Research and Community Services (LPPM) Unisnu Jepara Indonesia, which has supported this study.

This study aims to analyze the influence of environmental awareness, information technology (IT) use, and access to credit as moderators on the sustainability of Indonesia’s micro, small, and medium enterprises (MSMEs). Data were obtained through a survey of 1,374 MSMEs. Sampling was carried out using purposive sampling techniques, targeting MSMEs that had been established for more than 3 years and had received loans from financial institutions. The analysis used the ordinary least square (OLS) regression method to evaluate the relationship between the independent variables and MSME sustainability. The results show that environmental awareness and IT use significantly positively affect MSME sustainability. Credit access was also found to have a significant and positive effect. However, the interaction between credit access, environmental awareness, and IT use resulted in a small but significantly negative effect. This suggests that an excessive increase in credit access might reduce the positive impact of environmental awareness and IT use on MSME sustainability. Overall, this study confirms the importance of environmental awareness and information technology in improving MSME sustainability and highlights the need for proper management of credit access.

Acknowledgment
Appreciation is given to the Directorate General of Higher Education, Research and Technology, Ministry of Education, Culture, Research and Technology, which has provided a fundamental research grant with contract number 108/E5/PG.02.00.PL/2024. Acknowledgments are also expressed to higher education service institutions (LLDIKTI) Region 6 and the Institute of Research and Community Services (LPPM) Unisnu Jepara Indonesia, which has supported this research.