On Saturday, October 12, 2024, the Master of Science and Doctoral Program (MD) of FEB UGM successfully organized a field study and visit to Hortimart Agro Center, a leading agrotourism destination in Bawen, Semarang. This activity was attended by participants from master’s students, doctoral students, academic staff, and management of the MD FEB UGM Program, represented by Prof. Dr. Catur Sugiyanto, MA. The field study aimed to provide real-world insights into modern agribusiness management while strengthening the synergy between academic theory and practical application.

The agenda began with a presentation delivered by Ir. Budi Dharmawan, the owner of Hortimart Agro Center. During the session, he shared an inspiring journey of building and expanding his plantation business. Challenges such as climate change, supply chain management, and agricultural technology innovations were part of the insightful stories shared with the participants. The session offered in-depth knowledge on developing adaptive and sustainable strategies in the agribusiness sector.

Following the presentation, participants were invited to tour the plantation area of Hortimart. Using Buggy Cars, they explored the vast fields of horticultural crops. Participants received explanations about the origins of various plants, differences between fruit and vegetable varieties, and their planting and harvesting schedules. This activity not only enriched their academic understanding but also provided firsthand experience of the agribusiness industry.

Before concluding the visit, participants had the privilege of exploring the Hortimart Agro Center’s store, showcasing freshly harvested produce. The excitement was palpable as they selected fresh organic vegetables, perfectly ripened tropical fruits, and unique processed products from Hortimart. The visit concluded with a group photo session, capturing the memorable moments of this valuable learning experience.

Friday, November 29, 2024, the FEB UGM Publication Unit in collaboration with the Master of Science and Doctoral (MD) Program FEB UGM successfully held a workshop titled “Advanced Topics of Partial Least Square Structural Equation Modeling (PLS-SEM)” featuring Ramayah Thurasamy from the School of Management, University Sains Malaysia.

The event was conducted offline from 1:30 to 4:00 PM WIB at the BRI Auditorium, 3rd Floor, Master of Science and Doctoral Building, FEB UGM.

This training session provided an in-depth exploration of the statistical tool, starting with a comprehensive introduction by Ramayah, who outlined the general concepts of PLS-SEM, highlighting its flexibility in handling complex models and its applicability in various research fields. Participants gained a clearer understanding of how PLS-SEM is used to analyze relationships between latent variables, model indirect effects, assess construct reliability and validity, and more.

Mr. Ramayah combined theoretical explanations with practical demonstrations. Participants were provided with a special license key for PLS-SEM, allowing them to practice applying PLS-SEM techniques to sample data sets and illustrating how to use the SmartPLS software. Additionally, he offered further insights into analyzing measurement model tests and path analysis. This interactive approach ensured that theoretical concepts were reinforced through practical applications. The workshop concluded with tips and feedback from Mr. Ramayah regarding PLS-SEM, followed by a group photo session.

Two doctoral students from the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), Maria Yuvita Gobay and Diana Sapha, participated in the 2nd International Congress of Finance and Tax held at Selçuk University, Konya, Turkey, from November 8–10, 2024. This prestigious conference brought together academics and practitioners from various countries, including Algeria, Azerbaijan, Bosnia and Herzegovina, Georgia, India, Indonesia, Japan, Kosovo, Libya, Malaysia, Nigeria, North Macedonia, Pakistan, Portugal, Romania, Serbia, Türkiye, and Ukraine, to discuss strategic issues in finance, taxation, and sustainable development.

Maria Yuvita Gobay presented her research titled “Women Empowerment Program (PKK) and Women’s Health: A Papua and Eastern Indonesia Case Study.” Her study highlighted the effectiveness of the PKK program in improving women’s health in Papua and Eastern Indonesia. Using data from the Indonesian Family Life Survey East (IFLS East) 2012 and employing a Probit Model approach, her findings revealed that the dasawisma initiative within the PKK program significantly improved women’s health by up to 7.79%. This research supports the achievement of SDG 3 (Good Health and Well-being) and SDG 5 (Gender Equality), focusing on enhancing healthcare access for women in underprivileged areas.

Meanwhile, Diana Sapha delivered her study titled “Health and Education Spending and Aging Population in Indonesia.” Her research explored the challenges posed by an aging population and its impact on health and education budget management at the district and city levels. Using secondary data from 514 districts and cities in Indonesia between 2018 and 2022, Diana underscored both opportunities and risks during Indonesia’s demographic bonus phase. Her findings align with the objectives of SDG 3 (Good Health and Well-being), SDG 4 (Quality Education), and SDG 10 (Reduced Inequalities), offering policy recommendations for adaptive fiscal strategies to address demographic shifts.

The participation of Maria and Diana in this international conference reflects the dedication of FEB UGM students in addressing strategic global issues. By presenting data-driven research with local perspectives, they not only contribute to solutions for sustainable development challenges but also demonstrate the significant role of Indonesian academics in global scientific discourse. This serves as a reminder that small steps in research can lead to meaningful global changes for a better future.

Dr. Rita Handayani, SEI, M.Si., a lecturer from Universitas Muhammadiyah Sumatera Utara currently undertaking a Postdoctoral Fellowship at the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), participated in the 2nd International Congress of Finance and Tax held at Selçuk University, Konya, Turkey. This prestigious event took place from November 8–10, 2024, bringing together academics and researchers from Algeria, Azerbaijan, Bosnia and Herzegovina, Georgia, India, Indonesia, Japan, Kosovo, Libya, Malaysia, Nigeria, North Macedonia, Pakistan, Portugal, Romania, Serbia, Türkiye, and Ukraine to discuss pressing issues in finance and taxation.

Dr. Rita presented a collaborative research study conducted with Prof. Catur Sugiyanto (Universitas Gadjah Mada) and Jumadil Putra, Ph.D. (University of Terengganu, Malaysia), titled “The Impact of Infrastructure Spending on Macroeconomic Conditions: A Computable General Equilibrium (CGE) Model Approach.” The study explores the critical role of infrastructure investment in driving economic recovery and fostering sustainable economic transformation. It focuses on infrastructure spending policies in the macroeconomic context of Indonesia, which faces significant challenges due to the COVID-19 pandemic and the global economic crisis.

The research underscores that equitable infrastructure development across all provinces in Indonesia represents social justice for all Indonesians. Employing a CGE model and utilizing infrastructure expenditure data from 2020–2023 analyzed through GAMS software, the study provides empirical evidence that infrastructure policies positively influence economic growth, increase labor absorption in economic sectors, and enhance household income.

The findings reveal that infrastructure investment not only supports short-term economic recovery but also ensures long-term stability. It helps reduce regional and income disparities while promoting equitable access to resources and opportunities across regions and socioeconomic groups. Indonesia requires resilient, inclusive infrastructure designed to enhance welfare and address future challenges through adaptability and technological integration for optimized solutions.

The conference aligns with Sustainable Development Goals (SDGs), particularly Goal 9 (Industry, Innovation, and Infrastructure), which emphasizes reducing economic disparities, improving global welfare, and driving infrastructure transformation. Sustainable infrastructure provides tremendous opportunities for positive change, especially as the world grapples with climate crises, a global economic slowdown, and the need to address inequality disproportionately affecting the most vulnerable populations.

Dr. Rita Handayani and her team’s participation in this conference reflects a tangible effort to bring Indonesia’s data-driven perspectives and solutions to the global stage. By focusing on inclusive and sustainable infrastructure development, their contribution demonstrates the significance of academic collaboration in addressing global challenges and fostering shared progress. Moving forward, Indonesia’s infrastructure development must evolve into being more resilient, inclusive, socially impactful, and aligned with transitioning to a resource-efficient and sustainable economy.

Prof. Dr. Catur Sugiyanto, M.A., an expert in Agricultural Economics from the Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), served as a keynote speaker at the 2nd International Congress of Finance and Tax held on November 8–10, 2024, at Selcuk University, Konya, Turkey.

In his keynote address titled “Farming and (Sustainable) Village Tourism,” Prof. Sugiyanto highlighted efforts to ensure the sustainability of natural resources in village tourism areas, using Tinalah Tourism Village as an example. He emphasized the importance of long-term collaboration between village tourism managers and farmland owners to support sustainable rural economies based on agriculture and tourism.

He noted that changing tourist preferences toward adventurous and non-routine activities have created opportunities for the development of village tourism. According to data from Indonesia’s Ministry of Tourism and Creative Economy, there are currently over 1,836 tourism villages in the country. These villages leverage diverse natural landscapes, such as hills, valleys, fruit gardens, terraced rice fields, and rivers, as their main attractions, complemented by farming and local cultural activities. Tinalah Tourism Village, managed by local youth utilizing information technology, offers popular activities such as camping, rafting, hiking, and immersive stays with local farmers.

However, Prof. Sugiyanto pointed out that sustaining village tourism and agricultural activities faces significant challenges and competition. He underlined the critical role of cooperation

agreements or contracts between landowners and tourism groups in maintaining the sustainability of tourism villages. These agreements may include land access for tours or landowners acting as guides.

Additionally, the growth of tourism villages presents unique challenges, such as the push to open new businesses or sell land, which could diminish the village’s appeal. While cafes and restaurants provide additional amenities for tourists, they may reduce the authenticity and quality of village attractions. To address this, Prof. Sugiyanto recommended maintaining long-term collaboration between tourism managers and farmland owners, supported by the enforcement of land zoning regulations to safeguard the sustainability of both tourism and agriculture.

This research supports several Sustainable Development Goals (SDGs), including SDG 8 (Decent Work and Economic Growth) by promoting sustainable local economic activities, SDG 11 (Sustainable Cities and Communities) through environmentally conscious village tourism management, and SDG 12 (Responsible Consumption and Production) by emphasizing sustainable natural resource use.

Prof. Dr. Catur Sugiyanto’s participation in this international conference underscores FEB UGM’s commitment to advocating for the sustainability of natural resources and rural tourism businesses, contributing to the achievement of sustainable development goals.

The Master of Science and Doctoral (MD) Program at FEB UGM successfully held a regular thesis coaching session titled “Critical Thinking in the Perspective of Theory of Knowledge” on Friday, November 22, 2024, featuring Dr. Sindung Tjahyadi, a lecturer from the Faculty of Philosophy at UGM.

The event was held in person from 13:30 to 16:00 WIB at the BRI Auditorium, 3rd floor of the Master of Science and Doctoral Building, FEB UGM.

During this thesis coaching session, Dr. Sindung Tjahyadi had the opportunity to share material about epistemology and knowledge theory. He connected this concept to the Theory of Knowledge, encouraging participants to understand how knowledge is constructed, evaluated, and applied. He also pointed out that things which may seem simple and often overlooked actually have a strong foundation rooted in logical propositions. This explanation opened the eyes of participants to the fact that behind small details, there exists a solid and profound structure of thought that strengthens arguments and analysis as a whole. Through this presentation, participants were encouraged to think holistically and with great caution, exploring the meaning behind what may appear as simple realities. This approach opened new perspectives, particularly in understanding the meso-reality, where complex dynamics are revealed through the connections between micro and macro realities.

The way of viewing the world is greatly influenced by an individual’s perspective on reality. This perspective forms the foundation for thought patterns, including how to evaluate information, analyze situations, and ultimately develop sharp critical thinking skills. This understanding became the key to seeing the world more deeply and meaningfully. The thesis coaching session continued with more material on the theory of knowledge and critical thinking, concluding with an interactive question-and-answer session.

#SDGs #Goal4 #QualityEducation #ThesisCoaching #mscdoctorfebugm #FEBUGM #BanggaJadiMD

On Friday, November 22, 2024, the Master of Science and Doctoral (MD) Program at FEB UGM successfully held the MD Accounting Research Forum (MDREFO) titled “Research on The Usefulness of the 20-F Report and The Recent Development of IFRS S1 and S2,” featuring Dr. Singgih Wijayana, M.Si., Ph.D., a lecturer from the Department of Accounting at FEB UGM.

The event took place in person at the BRI Auditorium, 3rd floor, Master of Science and Doctoral Building, FEB UGM, from 09:30 to 11:00 WIB.

During this scientific discussion, Dr. Singgih presented intriguing research on the 20-F report, a report prepared by non-U.S. companies listed on U.S. capital markets. With the development of the IFRS S1 and S2 standards, the reporting practices based on IFRS for these cross-listed companies are expected to undergo significant changes. The discussion also highlighted that these companies are now required to integrate financial reporting and sustainability (climate) reporting into a single report, with the option to prepare annual reports based on various existing standards or frameworks.

This research investigates how changes in reporting requirements in the companies’ home countries will affect the information contained in the 20-F report and how useful it will remain for stakeholders. Referring to literature on the 20-F report and the recent developments of IFRS S1 and S2, this research emphasizes the research agenda that can provide insights for standard setters and regulators in designing future reporting policies.

#SDGs #Goal4 #QualityEducation #MDREFO #mscdoctorfebugm #FEBUGM #BanggaJadiMD