Al-Kharaj: Journal of Islamic Economic and Business
Al-Kharaj: Journal of Islamic Economic and Business is peer-reviewed journal published by Program Studi Ekonomi Syariah, Institut Agama Islam Negeri (IAIN) Palopo. Al-Kharaj focus on the research of Economic and Business and shariah economic, Management, Finance and accounting, public administration, Sharia Economic Law. The aims of this journal is to explore and develop economic related disciplines. This Journal welcomes contributions from researchers in related diciplines. Accredited Sinta 3 by minister of education and culture, Research and Technology (SK Dirjen Pendidikan Tinggi, Riset dan Teknologi No 0173/C3/DT.05.00/2025. This journal was published twice a year June and Desember from 2019-2022, then Since 2023 onwards it is published four times a year, on March, June, September and December Journal title Al-Kharaj: Journal of Islamic Economic and Business Initials kharaj Abbreviation al. kharaj. j. islam. econ. bus. Frequency 4 issues per year DOI Prefix 10.24256 by Crossref ISSN 2686-262X (Print) | 2685-9300 (Online) Editor-in-chief Mujahidin Publisher Institut Agama Islam Negeri Palopo Indexing SINTA | Garuda | Dimensions | Crossref
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. In line with the license, authors are allowed to share and adapt the material. In addition, the material must be given appropriate credit, provided with a link to the license, and indicated if changes were made. If authors remix, transform or build upon the material, authors must distribute their contributions under the same license as the original.
Implementation Al- qawā ʿ id Al- fiqhiyyah Al- asāsiyyah in Islamic Economics through Donation-Based Crowdfunding
Abstract This article examines the implementation of al-qawā ʿid al-fiqhiyyah al-asāsiyyah in contemporary Islamic economic practices, particularly in the donation-based crowdfunding model. Fiqhiyyah principles are general guidelines that can be applied to address modern muamalah issues. With the development of financial technology, donation-based crowdfunding practices have become a popular new socio-economic instrument in Indonesia and the world. This analysis shows that the five main fiqhiyyah principles (al-umūr bi maqāsidihā, al-yaqīn lā yazūlu bi al-syakk, al-masyaqqah tajlib al-taysīr, al- ḍ arar yuzāl, al- ʿ ādah mu ḥ akkamah) can be used as a legal basis to ensure that donation-based crowdfunding runs according to sharia principles, is safe, and beneficial to society. This article also discusses crowdfunding theory, the history and development of crowdfunding institutions, the problems faced, as well as solutions and future prospects. Keywords: Qawā ʿ id Fiqhiyyah, Crowdfunding, Islamic Economics, Donations, Muamalah .
Copyright (c) 2026 Sari Damayanti, Hasan Bisri, Ayi Yunus Rusyana, Sri Dewi Anggadini https://creativecommons.org/licenses/by-sa/4.0
The Influence of Motivation, Work Environment, Well-Being, Career, and Organizational Culture on Work-Life Balance
This study aims to analyze the influence of motivation, work environment, well-being, career, and organizational culture on employee work-life balance at PT Bank Rakyat Indonesia (Persero) Tbk. This study used a quantitative approach with SEM-PLS analysis techniques. The sample consisted of 220 respondents using the Slovin formulation. The results indicate that motivation, well-being, and organizational culture do not significantly influence work-life balance. However, the work environment and career variables significantly influence work-life balance. This confirms that both internal and external organizational factors play a crucial role in maintaining employee work-life balance in the stressful banking sector. This study provides theoretical contributions to the development of human resource management studies, particularly regarding the application of Self-Determination Theory in the context of work-life balance. Practically, the research findings can serve as recommendations for BRI management in designing work strategies that support employee well-being and retention.This study highlights the phenomenon of work-life balance in the Indonesian banking sector by simultaneously integrating five key variables, thus providing a comprehensive perspective for organizational policy development.
Copyright (c) 2026 Annisa Farah Tadayyana Wa Mutsaqqof, Suyoto https://creativecommons.org/licenses/by-sa/4.0
Analysis of Customer Service Quality in Overseas Shipping in Increasing Customer Satisfaction of PT. Pos Indonesia Persero KCU 60000 Surabaya
In service marketing management, service quality is a key determinant of competitive advantage. This study analyzes the performance of Customer Service (CS) in handling international shipments at PT. Pos Indonesia (Persero) KCU 60000 Surabaya. Using a descriptive qualitative method through participant observation from July to December 2025, this study evaluates service gaps that occur in the field. The results show that although shipping volumes are stable, there is an increasing trend of customer complaints due to goods being held at Customs. The analysis identifies the root of the problem as a competency gap among officers in understanding export regulations and weak document verification procedures at the initial point of interaction. This failure to provide assurance has a fatal impact on customer trust and satisfaction. As a strategic solution, this study recommends a relationship marketing approach through: holding intensive "Export Coaching Clinic" training to strengthen product knowledge, implementing a "Smart Checklist" as a verification quality control tool, and empowering supervisors to make tactical decisions for rapid service recovery. These steps are expected to transform services to be more proactive in maintaining customer loyalty.
Copyright (c) 2026 Qori Nur Rizka, Elok Vilantika https://creativecommons.org/licenses/by-sa/4.0
Deepseek Adoption as a Companion to Support SMEs' Digital Marketing Strategy in Surabaya
Purpose: This study aims to analyze the factors influencing the behavioral intention to adopt Deepseek as a digital marketing companion among Small and Medium Enterprise (SME) actors in Surabaya. The hypotheses tested include the influence of Perceived Ease of Use (PEU) and Perceived Usefulness (PU) on Behavioral Intention (BI) to adopt. Methods: This quantitative research employs a PLS-SEM model approach. Data was collected through an online questionnaire from 150 respondents comprising owners, marketing managers, or related staff across various SME sectors in Surabaya. The research instrument refers to validated variables of PEU, PU, and BI. Data analysis includes reliability and validity tests, as well as hypothesis testing using path analysis. Results: The findings indicate that both Perceived Ease of Use and Perceived Usefulness significantly and positively affect the intention to adopt Deepseek. Perceived Ease of Use also shows a strong direct effect on Perceived Usefulness. The model explains 87.3% of the variance in Behavioral Intention. Implications: The results provide practical insights for AI developers like Deepseek to enhance features that emphasize usability and tangible benefits for specific business tasks. For SME stakeholders and policymakers, the study highlights key drivers for digital tool adoption, suggesting that training programs should focus on improving both the perceived ease and the practical utility of such technologies to accelerate digital transformation in the SME sector.
Copyright (c) 2026 Desy Candra Novitasari https://creativecommons.org/licenses/by-sa/4.0
Investment Theory and Corporate Investment Decisions: A Theoretical and Empirical Review
This study examines the role of investment theory in shaping corporate investment decisions amidst increasingly complex and dynamic economic conditions. The research focuses on how various investment theory approaches influence corporate investment decision-making and their impact on firm value and market efficiency. This study is conducted through a systematic literature review of classical and contemporary investment theories, including Modern Portfolio Theory, the Capital Asset Pricing Model, and behavioral finance approaches. Furthermore, this study examines empirical evidence and the implementation of these theories in corporate practice, particularly in aspects of capital budgeting, dividend policy, and investment behavior. A cross-sector case study analysis demonstrates that the contextual application of investment theory contributes to improved corporate performance. The research findings emphasize the importance of integrating theoretical frameworks and practical strategies by managers, investors, and policymakers to encourage corporate value creation and improve market efficiency, while also opening up opportunities for further research development.
Copyright (c) 2026 Jalaluddin Rum, Muhamad Akbar, Miftahul Jannah, Muhammad Hisbullah https://creativecommons.org/licenses/by-sa/4.0
Analysis of Rice Milling Machine Maintenance in The Bahagia Village Farmers' Group
This study aims to analyze the implementation of rice milling machine maintenance at the Bina Kasih Farmers Group in Bahagia Village, Palolo District, Sigi Regency. The research method used is a qualitative approach with data collection techniques through in-depth interviews with machine owners and operators and direct observation of the condition and maintenance activities of the rice milling machine. The results show that the Bina Kasih Farmers Group implements two types of machine maintenance: preventive maintenance and corrective maintenance. Preventive maintenance is carried out primarily at the beginning of the harvest season, including machine cleaning, lubrication, and component inspections, while corrective maintenance is carried out after damage occurs, such as replacing filters, drive belts, and husk fans. However, the implementation of maintenance is not supported by a regular and systematic schedule. Lack of attention to machine cleanliness during operation, limited access to spare parts, and a lack of human resources with technical skills are the main obstacles in machine maintenance. These conditions have an impact on machine performance decline, increased repair costs, and potential operational disruptions. Therefore, it is necessary to increase awareness of the importance of regular maintenance, develop a structured maintenance schedule, and strengthen human resource capacity to maintain machine performance and increase farmer group productivity in a sustainable manner.
Copyright (c) 2026 Moh Aidil Wahab, Syamsuddin, Asngadi, Suryadi Hadi https://creativecommons.org/licenses/by-sa/4.0
Inbound Logistics, Conversion Operations And Outbound Logistics Activities at Kaledo Instant, Palu City
This study aims to describe and analyze the inbound logistics, conversion operations, and outbound logistics activities of the Kaledo Instan MSME in Palu City. This study uses a descriptive qualitative approach with data collection techniques through observation, in-depth interviews, and documentation to gain a comprehensive understanding of the logistics process and production operations. The results show that inbound logistics activities rely on local raw material supplies through online ordering, direct quality checks, and independent transportation using private vehicles. On the conversion operations side, the production process applies a make-to-order system with stages including preparation, cleaning, boiling, using a pressure cooker, steaming, drying, cooling, and packaging. And on the outbound logistics side, Kaledo Instan implements a direct distribution system without the involvement of third-party logistics actors. The main obstacle faced is limited human resources which impacts production capacity and operational efficiency. This study recommends optimizing production schedules, expanding the distribution network through strategic partnerships, and adding a workforce to increase capacity and operational sustainability.
Copyright (c) 2026 Muh Rezki, Suryadi Hadi, Asngadi, Kadek Agus Dwiwijaya https://creativecommons.org/licenses/by-sa/4.0
A Influence Digital Marketing And Brand Awerness To Decision Purchase Ultrajaya UHT Milk at Minimarket X in Bandung City
Digital transformation has changed the marketing strategies of the fast-food consumer goods industry, particularly UHT milk, which faces intense competition in the Indonesian market. This study aims to analyze the influence of digital marketing and brand awareness on purchasing decisions for Ultrajaya UHT milk at Minimarket X in Bandung City. Methods research using approach quantitative explanatory with A survey technique was used to select 95 consumer respondents through purposive sampling. The research instrument was a structured questionnaire with a Likert scale that had been tested for validity and reliability. Data analysis used multiple linear regression with the help of SPSS software version 29. Results Partial tests show that Digital Marketing has a significant positive effect on purchasing decisions, as does Brand Awareness. show influence positive significant to Decision purchase. The simultaneous test results showed that both variables had a significant effect together, explaining 62.5 percent of the variation in purchasing decisions. This finding confirms that integrating digital marketing strategies and strengthening brand awareness are crucial factors in improving consumer purchasing decisions in the UHT milk industry in the digital era.
Copyright (c) 2026 Rina Marlina; joni https://creativecommons.org/licenses/by-sa/4.0
Gamification-Based Sharia Personal Financial Management: An Innovation to Improve Financial Literacy and Behavior of the Younger Generation
The low level of Islamic financial literacy among the younger generation presents a challenge in realizing financial behavior in accordance with Islamic principles in the digital era. This study aims to analyze the effectiveness of this approach.gamification in improving Sharia-based personal financial literacy and behavior. The method used isSystematic Literature Review(SLR)with guidelinesPRISMA 2020, which involved an analysis of 25 Scopus-indexed articles from 2020–2025. The results showed that gamification can increase intrinsic motivation, user engagement, and understanding of Islamic finance concepts such as contracts, usury, and halal fund management. Gamification elements such asprogress tracking,leaderboard, Andinteractive simulationIt has been proven to be more effective than conventional educational methods in developing disciplined, transparent, and sharia-compliant financial behavior. Consequently, gamification can be an innovative strategy for educational institutions and the financial industry.sharia fintech, and the government in expanding inclusion and Islamic financial literacy among the younger generation of Muslims.
Copyright (c) 2026 Putra Budiman, Friska Anggi Siregar, Nurjannah https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Influence of Profitability, Leverage, Company Size, and Financial Distress on Tax Avoidance in Manufacturing Companies Listed on the Indonesia Stock Exchange in 2024
This study aims to analyze the effect of profitability, leverage, company size, and financial distress on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange in 2024. This study uses an explanatory quantitative approach to analyze the influence of profitability, leverage, company size, and financial distress on tax avoidance in manufacturing companies listed on the IDX in 2024. Secondary data in the form of financial reports of 101 manufacturing companies in 2024 were selected using purposive sampling. The analysis was conducted quantitatively using cross-sectional data and processed with E-Views 13 software. The results of this study are that profitability has a positive and significant effect on tax avoidance, leverage also has a positive and significant effect on tax avoidance, company size does not show a significant effect on tax avoidance, and financial distress has a positive and significant effect on tax avoidance
Copyright (c) 2026 Tri Bowo Cahyono, Imronudin, Muzakar Isa https://creativecommons.org/licenses/by-sa/4.0
The Effect of Work Commitment and Organizational Culture on Employee Performance with Work Environment Mediation (Case Study of PT PLN Indonesia Power UBP Barito in South Kalimantan)
In the era of industrial transformation and digitalization in the energy sector, the success of public organizations such as PT PLN Indonesia Power UBP Barito increasingly depends on employees who demonstrate strong commitment and a positive work culture. The study aims to examine the influence of employee commitment and organizational culture on employee performance and to analyze the mediating role of the work environment in this relationship. This study employed a quantitative approach with an explanatory design. The population consisted of 130 employees of PT PLN Indonesia Power UBP Barito, from which 98 respondents were selected as the sample using the Slovin formula. Data were collected through a Likert-scale questionnaire and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS version 4. The findings indicate that employee commitment and organizational culture have a positive and significant effect on employee performance. Furthermore, the work environment was found to partially mediate the relationship between both independent variables and performance. These results highlight that strong employee commitment, a positive organizational culture, and a supportive work environment collectively enhance employee effectiveness and performance at PT PLN Indonesia Power UBP Barito
Copyright (c) 2026 Dedy Putro Triyuwono, Sulastini, Dwi Wahyu Artiningsih https://creativecommons.org/licenses/by-sa/4.0
The moderating role of Al-Falah values in the effect of digital marketing and product innovation on the competitive advantage of micro, small, and medium enterprises in Sinjai Regency
This study aims to examine the effects of digital marketing adaptation and product innovation on the competitive advantage of micro, small, and medium enterprises (MSMEs) in Sinjai Regency, Indonesia, and to investigate the moderating role of Al-Falah values. A quantitative approach was employed using a survey method involving 220 MSME owners. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) with SmartPLS 4.0. The results indicate that digital marketing adaptation has a positive and significant effect on competitive advantage (β = 0.215; p < 0.05), while product innovation shows a stronger positive effect (β = 0.355; p < 0.05). Al-Falah values also have a positive and significant direct effect on competitive advantage (β = 0.325; p < 0.05). The structural model demonstrates strong predictive power, with an R² value of 0.712, indicating that 71.2% of the variance in competitive advantage is explained by the proposed model. However, the moderating effects of Al-Falah values on the relationship between digital marketing adaptation and competitive advantage (β = −0.014; p > 0.05), as well as between product innovation and competitive advantage (β = −0.020; p > 0.05), are not statistically significant. These findings suggest that digital marketing adaptation and product innovation independently enhance MSMEs’ competitive advantage, while Al-Falah values primarily function as an ethical foundation rather than a reinforcing moderator. This study contributes to the literature by integrating Islamic ethical values into a digital competitiveness framework and offers practical implications for strengthening sustainable MSME competitiveness.
Copyright (c) 2026 selmiana salam, Sudriman, Syaharuddin, Supriadi, Kamaruddin Arsyad https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Village Financial Management Principles at Village Office X
This study aims to analyze the implementation of village financial management principles in Village X based on Home Affairs Ministerial Regulation No. 20 of 2018, with a focus on the principles of transparent, accountable, participatory, and orderly and disciplined budgeting. The study used qualitative methods through interviews and documentation. The results showed that the implementation of village financial management principles is not optimal. In terms of accountable, the village still experiences data input errors in the Village Financial Management System (Siskeudes) and obstacles in the timeliness of reporting, which affects the quality of accountable. In terms of transparent, although budget information is published through billboards, billboard updates are not carried out routinely so that the community does not always receive the latest information. In terms of participatory principles, community involvement in village deliberations is still dominated by village officials and certain figures, while the participatory of general community groups is at an optimal level. In the application of the principles of orderly and disciplined budgeting, budget implementation has not been optimal due to delays in administration, minimal understanding of technical regulations among village officials, and sudden policy changes without adequate training support, so that they are not fully consistent with established plans and schedules. This study recommends improving the competence of village officials, developing flexible internal SOPs, and optimizing the village financial information system as improvement steps to achieve more effective financial governance.
Copyright (c) 2026 Aprillia Putri Ning Tyas, Ferby Mutia Edwy https://creativecommons.org/licenses/by-sa/4.0
The influence of accountant competence and accounting applications on the quality of financial reports which impacts the determination of tax payment values.
The quality of financial reports plays a crucial role in ensuring accurate and fair determination of tax payment values. This study aims to analyze the influence of accountant competence and the use of accounting applications on the quality of financial reports and their subsequent impact on tax payment determination. Accountant competence is reflected in technical skills, professional knowledge, and compliance with accounting standards, while accounting applications are viewed as tools that support accuracy, efficiency, and consistency in financial data processing. This research employs a quantitative approach by examining the relationships between accountant competence, accounting applications, financial report quality, and tax payment values. The findings indicate that higher accountant competence and effective utilization of accounting applications contribute positively to the quality of financial reports. Improved financial report quality, in turn, enhances the reliability of tax calculations and supports proper tax payment determination. These results highlight the importance of continuous professional development for accountants and the adoption of reliable accounting applications to strengthen financial reporting and taxation processes. This study is expected to provide practical insights for organizations, policymakers, and tax authorities in improving financial reporting quality and tax compliance.
Copyright (c) 2026 teddy, Ida Rosnidah, Irwan Sutirman https://creativecommons.org/licenses/by-sa/4.0
The Influence of Managerial Ability and Earnings Quality on Financial Reporting Fraud in Energy Sector Companies Listed on the Indonesia Stock Exchange 2020–2024
The purpose of this study is to analyze the effect of managerial ability and earnings quality on financial statement fraud in energy sector companies listed on the Indonesia Stock Exchange for the period 2020–2024. The research hypothesis states that managerial ability and earnings quality contribute to financial statement fraud. A quantitative approach was implemented using secondary data sourced from the annual reports of energy sector companies. The research population included 89 companies, with probability sampling techniques using the proportionate stratified random sampling method, resulting in 73 companies as research samples with a total of 360 observations. Managerial ability was measured using the firm efficiency approach, income quality was measured using the quality of income ratio, while financial statement fraud was measured using the Beneish M-Score model. The data analysis techniques used included descriptive statistical analysis and panel regression with the Common Effect Model. The results found that managerial ability and income quality had a significant positive effect on financial statement fraud, both simultaneously and partially. These findings indicate that managerial ability and apparent income quality can be exploited opportunistically by management under certain conditions of pressure. These findings suggest that high managerial ability and seemingly high-quality earnings may be used opportunistically by management under certain pressures. The study highlights the importance of strengthening corporate governance mechanisms and financial reporting oversight, particularly in the energy sector, which is characterized by high fraud risk. The findings also provide implications for future research to incorporate additional variables and alternative fraud detection approaches.
Copyright (c) 2026 Susi Rahmawati, Intan Pramesti Dewi https://creativecommons.org/licenses/by-sa/4.0
Strategy to Accelerate the Utilization of Tatanggo Terminal as a New Economic Growth Lever in Buru Regency
Tatanggo Terminal in Buru Regency was built as a transportation hub and new economic growth center, but until 2025 it did not function as planned. This study aims to: (1) identify the factors causing the terminal's non-functioning, (2) analyze the potential of Tatanggo Terminal in supporting local economic growth, and (3) formulate strategies to accelerate terminal utilization. The study used a qualitative approach with a case study design through in-depth interviews, field observations, and document analysis. Data analysis was carried out using the Miles & Huberman model, followed by strategic analysis of SWOT, IFAS, EFAS, and the IE Matrix. The research results show that there are five main factors that cause Tatanggo Terminal to not function: (1) non-comprehensive planning, (2) weak institutions and enforcement of regulations, (3) lack of transportation route connectivity, (4) community socio-economic preferences for the Old Market, and (5) local political intervention. Nevertheless, the terminal has great potential as a distribution center for agriculture, horticulture, fisheries, and MSMEs along with the growth of public consumption, the increase in the number of vehicles, and the saturation of the Old Market's space capacity. The results of the SWOT.IFAS.EFAS analysis place Tatanggo Terminal in the "turnaround strategy" quadrant, indicating the need for internal strengthening to capture large external opportunities. Recommended acceleration strategies include (1) the formation of a Terminal UPT, (2) route arrangement, (3) facility revitalization, (4) economic cluster development, (5) increasing community participation, and (6) policy consistency between leadership periods
Copyright (c) 2026 Jamaludin Samak, Maryam Sangadji, Puji Rahayu https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Influence of General Allocation Funds (DAU), Special Allocation Funds (DAK) and Regional Original Income (PAD) on Economic Growth in South Buru Regency
The purpose of this study is to determine the influence of the General Allocation Fund (DAU), Special Allocation Fund (DAK), and Regional Original Income (PAD) on economic growth. The data used are secondary data sourced from competent government institutions. The data are then analyzed using statistical tools in the form of multiple linear regression. The research results show that DAK and PAD have a negative, though insignificant, effect on economic growth, while DAU has a positive and significant effect. This could indicate that the economy of South Buru Regency still has a significant fiscal dependence on the central government.
Copyright (c) 2026 Fatimah Salampessy, Djufri Rays Pattilouw, Yerimias Manuhutu https://creativecommons.org/licenses/by-sa/4.0
Firm Size as a Moderator in Food and Beverage Companies on the IDX: Tax Planning and Earnings Persistence
The purpose of this study is to examine how tax planning affects earnings persistence in food and beverage manufacturing companies listed on the Indonesia Stock Exchange, using firm size as a moderating variable. Stock Exchange from 2021 to 2024. Using secondary data from annual financial reports, the study employs a quantitative methodology. Purposive sampling was used to determine the sample, which produced 164 observations from 41 manufacturing companies in the food and beverage subsector between 2021 and 2024. With the aid of SPSS vs. 27 software, moderated regression analysis was used to analyze the data. The test results demonstrate that tax planning has a positive and significant impact on earnings persistence to some extent, suggesting that better tax planning is typically followed by higher earnings persistence. However, the relationship between tax planning and earnings persistence is not significantly affected by firm size, nor does it function as a moderating variable. As a result, the impact of tax planning on earnings persistence is essentially the same for both small and large businesses.
Copyright (c) 2026 Khusnul Khotimah, Anissa Yuniar Larasati https://creativecommons.org/licenses/by-sa/4.0
Comparison Of The Economic Thought Of Ibn Khaldun, Abu Hamid Al-Ghazali, And Ibn Taimiyyah Related To Prices And Market Mechanisms
This study aims to compare the economic thinking of three great Islamic scholars, namely Ibn Khaldun, Abu Hamid Al-Gazali, and Ibn Taymiyyah, specifically regarding the concept of price and market mechanisms. Ibn Khaldun emphasized the importance of the forces of supply and demand in determining prices and viewed prices as a reflection of socio-economic dynamics. Al-Gazali emphasized the ethical and moral dimensions of trade, emphasizing the prohibition of hoarding and the importance of justice so that market mechanisms do not harm society. Meanwhile, Ibn Taymiyyah emphasized that prices are basically formed naturally through market interactions, but the state has the right to intervene if fraud and injustice disrupt the balance. A comparison of these three figures shows a similar view regarding the role of the market as the main mechanism and price formation, but differs in the emphasis on social, ethical, and regulatory aspects. Classical Islamic economic thought has provided a relevant normative and practical foundation for understanding modern market mechanisms in a just manner
Copyright (c) 2026 Nurhikmah, Suci Septiani, Siradjuddin https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Corporate Social Responsibility Disclosure On Tax Planning With Firm Size As A Moderating Variable
This study tries to find out if corporate social responsibility (CSR) has an impact on tax planning, with the size of the company acting as a factor that could influence this relationship. The research is based on quantitative methods and uses secondary data from financial reports and sustainability reports. The focus is on companies in the food and beverage sector that are listed on the Indonesia Stock Exchange between 2020 and 2024. To collect data, purposive sampling was used, which included companies that were listed on the IDX during that time, had inconsistent financial reporting, experienced losses, had inconsistent sustainability reporting, or did not use the GRI index. The final sample included 10 companies, providing a total of 50 data points. The data was analyzed using SPSS with a technique called moderated regression analysis (MRA). The findings showed that CSR does not influence tax planning, and the company size did not act as a moderator in this relationship.
Copyright (c) 2026 Nurhayati Tambun, Anissa Yuniar Larasati https://creativecommons.org/licenses/by-sa/4.0
The Role of Economic Growth and Income Inequality on Poverty Levels in Sulawesi: A Panel Data Regression Approach
Penelitian ini bertujuan untuk menganalisis pengaruh Pertumbuhan Ekonomi (EG) dan Ketidaksetaraan (GINI) terhadap Tingkat Kemiskinan (POV). Metode : Penelitian ini menggunakan data Regresi Data Panel yang mencakup 6 provinsi di pulau Sulawesi (Sulawesi Barat, Sulawesi Utara, Sulawesi Tengah, Sulawesi Selatan, Sulawesi Tenggara, Gorontalo) selama tahun 2011-2023. Variabel independen utama adalah EG dan GINI, disertai variabel kontrol Indeks Pembangunan Manusia (HDI), Pengangguran Terbuka (UNEMP), dan Pengeluaran Pemerintah (LN_GOV). Berdasarkan uji Chow dan Hausman, model yang dipilih adalah Model Efek Tetap (FEM). Hasil : Estimasi FEM menunjukkan temuan sebagai berikut: (1) Pertumbuhan ekonomi (EG) dan ketidaksetaraan (GINI) merupakan pendorong kemiskinan yang sangat signifikan. (2) Pengeluaran pemerintah (LN_GOV) dan pengangguran (UNEMP) secara signifikan mengurangi kemiskinan. (3) Indeks Pembangunan Manusia (HDI) tidak signifikan. Implikasi : Hasil penelitian ini memberikan bukti bahwa kegagalan mengurangi kemiskinan di Sulawesi disebabkan oleh masalah distribusi. Perlu dilakukan pergeseran fokus dari sekadar mendorong pertumbuhan PDB regional ke memprioritaskan kebijakan redistribusi untuk menjaga stabilitas rasio Gini. Pemerintah provinsi perlu mengoptimalkan efektivitas belanja modal pro-rakyat miskin untuk menciptakan pertumbuhan yang benar-benar inklusif.
Copyright (c) 2026 Linda Rosalina, Listia, Unggul Heriqbaldi https://creativecommons.org/licenses/by-sa/4.0
Business Environment, Entrepreneurial Competence, and Innovativeness: Evidence from Bandung’s Embroidery SMEs
In a dynamic and competitive business environment, understanding the factors that drive entrepreneurial innovation is important. This study examines the relationship between entrepreneurial competence and innovation in the context of the embroidery industry in Bandung. Structural Equation Modeling was employed to evaluate the proposed relationships with 90 embroidery entrepreneurs in Bandung. Empirical results show that a conducive business environment is associated with higher levels of innovation among embroidery entrepreneurs in Bandung. In addition, these environmental conditions also strengthen entrepreneurial competence, which in turn drives innovation, with entrepreneurial competence acting as a partial intermediary mechanism in this relationship. This study contributes to the literature on entrepreneurship and innovation by providing empirical evidence confirming the importance of entrepreneurial competence as a mechanism linking environmental conditions and innovation outcomes in small-scale creative industries. Furthermore, the findings emphasize the importance of improving the business environment to encourage entrepreneurial creativity, suggesting that policymakers and local stakeholders need to strengthen their support through access to resources, market information, and institutions. The research any several limitations. First, focuses on entrepreneurs in the embroidery industry in Bandung. This contextual focus suggests that the findings are most relevant to the embroidery sector in Bandung and may not fully reflect conditions in other settings. Second, the study relies on primary data collected through questionnaires, which may be subject to respondents’ perceptions and interpretations.
Copyright (c) 2026 Eka Ludiya, Agus Rahayu, Hari Mulyadi, Lili Adi Wibowo, Asep Kurniawan https://creativecommons.org/licenses/by-sa/4.0
Village Funding Governance and Administrative Capacity: A Systematic Review on Their Role in Community Empowerment
This study aims to systematically examine the role of village fund governance and administrative capacity in shaping community empowerment outcomes. Grounded in public administration, fiscal decentralization, and participatory governance perspectives, this review synthesizes peer-reviewed articles published between 2021 and 2025 and indexed in Scopus, Web of Science, and nationally accredited Indonesian journals (SINTA). To ensure the relevance and feasibility of the study, a bibliometric analysis was conducted using Harzing’s Publish or Perish and VOSviewer to map publication trends, thematic clusters, and the conceptual evolution of research on village funding, governance, and empowerment. The findings indicate that the effectiveness of village funds is strongly mediated by governance quality particularly transparency, accountability, participation, and effectiveness as well as by multidimensional administrative capacity encompassing financial management, human resources, institutional arrangements, and risk management. Empirical evidence consistently demonstrates that well-governed village funds contribute positively to economic self-reliance, social inclusion, and citizen participation. Nevertheless, limited administrative capacity and weak institutional coordination remain significant challenges to achieving sustainable community empowerment.
Copyright (c) 2026 Muhammad Hafiz, Fitri Eriyanti; Zul Fahmi https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Organizational Capital And Institutional Ownership On Tax Avoidance In Indonesian Mining Companies
This study aims to examine the influence of organizational capital and institutional ownership on tax avoidance in mining companies. Tax avoidance is one of the causes of Indonesia's low tax ratio, including in the ASEAN region. Mining companies are an industrial sector that is also relevant to tax avoidance activities because they generally involve large investments. The research method used is quantitative with SPSS analysis tools. The study period is from 2022 to 2024, and the sample was selected using purposive sampling. The number of observations is 36. The results show that organizational capital and institutional ownership influence tax avoidance, with the dominant variable being institutional ownership. An interesting phenomenon observed is: institutional ownership behaves unusually, supporting tax avoidance activities. This behavior is indicated to be caused by policies aimed at clean energy. The use of coal in the future will be limited. Most mining companies in Indonesia are coal mines
Copyright (c) 2026 Desi Andriani Putri, Norman Duma Sitinjak https://creativecommons.org/licenses/by-sa/4.0
Adaptation Must Tax Beginner in Use E-Filing: Study On Generation Millennials in Kediri City
Digitalisasi sistem perpajakan melalui implementasi e-Filing membutuhkan kemampuan adaptasi wajib pajak, khususnya bagi wajib pajak pemula dari generasi milenial. Penelitian ini bertujuan untuk menganalisis tingkat adaptasi wajib pajak pemula generasi milenial dalam menggunakan e-Filing dan menguji pengaruh langsung dan tidak langsung antar variabel yang memengaruhi proses adaptasi di Kota Kediri. Penelitian ini menggunakan pendekatan kuantitatif dengan tipe studi deskriptif dan asosiatif. Data dikumpulkan melalui kuesioner dengan skala Likert lima tingkat yang didistribusikan kepada 50 responden, yang dipilih menggunakan teknik purposive sampling. Teknik analisis data yang digunakan adalah path analysis dengan bantuan perangkat lunak SPSS. Sebelum analisis dilakukan, data diuji melalui uji validitas, uji reliabilitas, serta uji asumsi klasik yang meliputi uji normalitas, multikolinearitas, dan heteroskedastisitas. Hasil pengujian menunjukkan bahwa seluruh instrumen penelitian valid dan reliabel, dan data memenuhi asumsi statistik yang dibutuhkan. Hasil analisis menunjukkan adanya pengaruh signifikan, baik secara langsung maupun tidak langsung, antara variabel independen terhadap tingkat adaptasi wajib pajak pemula dalam menggunakan e-Filing. Temuan penelitian ini menunjukkan bahwa generasi Milenial di Kota Kediri memiliki kemampuan adaptasi yang cukup baik terhadap sistem e-Filing, meskipun masih dipengaruhi oleh faktor pendukung dalam proses penggunaannya. Penelitian ini diharapkan dapat memberikan kontribusi akademis dalam pengembangan studi perilaku wajib pajak serta menjadi pertimbangan material bagi otoritas pajak dalam merumuskan strategi sosialisasi dan bantuan yang lebih efektif bagi wajib pajak pemula.
Copyright (c) 2026 Vella Angellia, Khasanah Sahara, Rike Selviasari https://creativecommons.org/licenses/by-sa/4.0
The Effect Of The 12% Vat Rate Increase Through Coretax System Against Income Of Umkm In Kediri City
Study This aim For know influence tested variables​ to variables dependent through a series analysis statistics which include validity tests , reliability tests , assumption tests classic . Research methods use approach quantitative descriptive with data collection through questionnaire against 51 MSME sectors registered culinary​ as Taxable Entrepreneurs (PKP) at the Kediri Pratama Tax Office . All over instrument study stated worthy used Because every grains statement show mark correlation that exceeds the minimum limit so that can concluded to be valid. The test results reliability also shows that all over variables own level strong internal consistency so that the data is believed stable and able trusted . Testing assumptions classic show that the regression model has fulfil condition normality , no there is symptom multicollinearity , and residual variance in condition homoscedastic so that the model is assessed appropriate used in analysis continued . Regression results show that variables independent own significant influence​ to variables dependent Good in a way simultaneous and partial , which is proven through mark significance that is below the specified error limit . Research model This in a way overall assessed capable explain changes that occur in variables dependent , so that findings study can used as base consideration in taking decisions , development policies , as well as study next . Research This expected capable give contribution for understanding theoretical and practical related factors that influence variables studied​ as well as become reference for other relevant research .
Copyright (c) 2026 Fadilla Rafida, Miladiah Kusumaningarti, Puji Rahayu https://creativecommons.org/licenses/by-sa/4.0
The Transformation of the Kafālah and Ḥawālah Contracts into the Muʻāwaḍah Contract Maṣlaḥah Perspective: An Analytical Study of DSN-MUI Fatwa
This research is motivated by the paradigm shift of kafālah and ḥawālah contracts within the Islamic finance industry in Indonesia. While classical jurisprudence categorizes these contracts as non-profit tabarruʻ (social) contracts, the fatwas issued by the National Sharia Council of the Indonesian Ulama Council (DSN-MUI) have transformed them into muʻāwaḍah (commercial) contracts through the implementation of ujrah (fees). This study aims to analyze the form of this contract transformation, examine the ijtihad methods and approaches employed by DSN-MUI, and explore the substance of maṣlaḥah (public interest) that validates this shift, particularly in supporting the halal economy and tourism ecosystem. The research employs a qualitative method with a library research design, utilizing content and conceptual analysis approaches on relevant fatwas. The results indicate that: (1) The transformation of kafālah and ḥawālah contracts in DSN-MUI fatwas substantively shifts them into ijārah (lease of services) or wakālah bi al-ujrah contracts, which is valid based on the principle of legal substantiality. (2) DSN-MUI utilizes the intiqā’ī (selective) ijtihad method combined with manhajī approaches, specifically at-taysīr al-manhajī (methodological facilitation) and iʻādah an-naẓar (re-evaluation) of classical legal causes (ʻillat). (3) The substance of maṣlaḥah in this transformation is manifested in mutual interest (sustainability of financial institutions), product flexibility (such as support for smart tourism), and the effectiveness of legal certainty within Indonesia's positive law.
Copyright (c) 2026 Abdul Aziem, M. Dawud Arif Khan, Hidayat https://creativecommons.org/licenses/by-sa/4.0
Carbon Trading in Indonesian Based on Financial Services Authority Regulation Number 14 of 2023 Reviewed from Maqāṣid as-Syarī'ah and Green Economy
Carbon trading is a strategic market instrument designed to reduce greenhouse gas (GHG) emissions in a measurable way. In Indonesia, this mechanism is regulated through Presidential Regulation No. 98 of 2021 and OJK Regulation (POJK) No. 14 of 2023. However, studies integrating ethical-religious aspects through Maqāṣid al-Sharī‘ah and the Green Economy paradigm remain limited. This research aims to analyze the integration of these two concepts within Indonesia's carbon trading system and evaluate the conformity of POJK No. 14 of 2023. The method employed is normative legal research with a qualitative content analysis approach. The findings indicate that: (1) carbon trading aligns with Maqāṣid al-Sharī‘ah in environmental protection (ḥifẓ al-bī’ah) through principles of justice and transparency; (2) carbon trading supports the Green Economy by internalizing environmental externalities into economic activities; and (3) POJK No. 14 of 2023 substantially accommodates Sharia values and sustainability. This integration serves as a vital foundation for a carbon trading system that is legally valid and provides spiritual and social benefits.
Copyright (c) 2026 Elsa Febiola Aryanti, Hidayat, Nurkhalis Muchtar https://creativecommons.org/licenses/by-sa/4.0
A Normative Juridical Analysis of Standard Clauses in E-commerce: Consumer Protection and the Nullity of Exoneration Clauses on the Shopee Marketplace under Indonesian Law No. 8/1999
This study undertakes a normative juridical analysis of standard clauses (klausula baku) employed by business actors (pelaku usaha) in online sale and purchase transactions (jual beli) conducted via the Shopee marketplace in Indonesia. Driven by the observed prevalence of unilateral contractual terms that disproportionately shift risk and responsibility to the consumer, the research assesses their compliance with the fundamental prohibitions established in Article 18 of Law No. 8 of 1999 Concerning Consumer Protection (UUPK). Utilizing a descriptive analytical approach based exclusively on secondary legal materials, the study confirms that common seller clauses specifically those disclaiming liability for shipping damage or manufacturing variance, and those refusing product returns or refunds directly contravene UUPK Article 18. These clauses are primarily in violation of points (1)(a), which prohibits the transfer of responsibility of the business actor, and (1)(b), concerning the refusal of returns. The central legal finding is that, pursuant to UUPK Article 18(3), these non-compliant contractual terms are declared null and void by law (batal demi hukum). This statutory nullity legally reinforces the business actor's mandatory liability (Article 19) and underscores the necessity for proactive supervision and intervention by the Business Dispute Resolution Agency (BPSK). The paper concludes with recommendations for strengthening platform governance and consumer legal literacy to ensure contractual balance and legal certainty within the rapidly evolving digital commerce ecosystem.
Copyright (c) 2026 Siti Widya Umiyati https://creativecommons.org/licenses/by-sa/4.0
Analysis Of The Effect Servant Leadership And Organizational Culture On Human Resource Performance With Job Satisfaction As An Intervening Variabel In The Drainage Division Of The Departement Of Water Resources And Highways Service, Surabaya City Govermen
purpose: The purpose of this study is to examine and analyze the influence of servant leadership and organizational culture on human resource performance with job satisfaction as an intervening variable in the Drainage Division of the Water Resources and Highways Service of Surabaya city Goverment. Methods: This study uses a causal research design with a quantitative approach. The research was conducted at the Water Resources and Highways service office, Drainage Division, Jimerto street no. 6-8, Ketabang Village, Genteng District, Surabaya city, East Java. The population in this study consisted of 94 civil servants and non-civil servants working in the Drainage Division of the Water Resources and Highways service office Surabaya city Goverment. The sampling technique used the census method, so that the number of samples taken was 94 employees of the Drainage Division. Data collection was carried out by distributing questionnaires. The data analysis technique used was SEM (Structural Equation Model) based on Partial Least Square (PLS) version 4.1.1.5. Results: The results of this study prove that servant leadership has no effect on job satisfaction, organizational culture has a positive and significant effect on job satisfaction, servant leadership has no effect on employee performance, organizational culture has a significant and positive effect on employee performance, and job satisfaction is unable to mediate servant leadership and organizational culture on employee performance. Implications: These findings imply that strengthening organizational culture should be prioritized over servant leadership to enhance job satisfaction and employee performance in public sector organizations.
Copyright (c) 2026 Syahrur Romadhona, Dewie Tri Wijayati Wardoyo, Andre Dwijanto Witjaksono https://creativecommons.org/licenses/by-sa/4.0
The The Role of Consumer Satisfaction Mediation in the Relationship Between Consumer Trust, Service Quality, and Rental Costs on the Interest in Renting Heavy Equipment at CV. Berkat Bersama
This study examines the mediating role of consumer satisfaction in the relationship between consumer trust, service quality, rental costs, and rental interest in heavy equipment at CV. Berkat Bersama. The purpose is to understand how these factors influence rental decisions and how satisfaction strengthens consumer trust toward rental intention. Using a quantitative approach, data were collected through questionnaires from 100 respondents and analyzed using SmartPLS. The findings show that consumer trust significantly affects rental interest, service quality, and satisfaction. Furthermore, consumer satisfaction mediates the relationship between consumer trust and rental interest, indicating that higher trust enhances satisfaction, which in turn increases rental intention. However, satisfaction does not mediate the effect of service quality and rental costs on rental interest, implying that these variables influence intention through other channels. The study highlights that trust is the most dominant factor shaping rental interest, while service quality and competitive pricing remain essential to sustain customer satisfaction. Theoretically, the research reinforces consumer behavior and relationship marketing models, emphasizing the importance of trust and satisfaction. Practically, it suggests that companies should focus on trust-building, improving service consistency, and ensuring transparent pricing to strengthen competitiveness and increase heavy equipment rental interest.
Copyright (c) 2026 Sonia Nengsih sonia Negsih, Pardiman, Ridwan Basalamah https://creativecommons.org/licenses/by-sa/4.0
The Influence of Product Quality, Brand Image, and Promotion on Purchase Decisions (A Study of Consumer Purchases of Coconut Pudding in the Barlingmascakeb Region)
This study aims to examine the influence of product quality, brand image, and promotion on purchase decisions of coconut pudding products, employing cognitive and affective theories as the grand theoretical framework. A quantitative research design was applied, with data collected through purposive sampling involving 267 respondents. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) to assess the relationships among variables. The findings indicate that product quality, brand image, and promotion have a positive and significant effect on purchase decisions. These results highlight the importance of implementing an integrated marketing strategy that emphasizes product quality enhancement, effective brand management, and promotional effectiveness to stimulate consumer purchase decisions.
Copyright (c) 2026 Iqbal Nafis Abiansyah, Irawan Randikaparsa, Tri Septin Muji Rahayu, Alfato Yusnar Kharismasyah https://creativecommons.org/licenses/by-sa/4.0
The Role Of Product Quality, Service Quality, And Social Engagement In Mediating The Influence Of Brand Image On Gen Z Purchase Decisions At Corner Nyonya
This study aims to analyze the influence of brand image on purchasing decisions mediated by product quality, service quality, and social media engagement among Generation Z at Corner Nyonya. Corner Nyonya is a contemporary culinary outlet that offers modern-style healthy food and drinks such as Vietnamese spring rolls, vegetable salads, coffee, and non-coffee drinks with distinctive Gen Z flavors, as well as processed banana and honey jackfruit snacks with various topping variants. The phenomenon of the rise of healthy lifestyle-based culinary businesses and social media trends encourages the need for marketing strategies that focus not only on products, but also on brand image and digital interactions with young consumers. This study uses a quantitative approach with the Partial Least Square-Structural Equation Modeling (PLS-SEM) method. Data were collected through an online questionnaire using a Likert scale of 1–10 from 110 Generation Z respondents who had purchased products at Corner Nyonya. The results show that brand image has a significant effect on product quality, service quality, and social media engagement, and indirectly influences purchasing decisions through these three mediating variables. These findings emphasize the importance of building a strong brand image, maintaining consistent product and service quality, and utilizing social media as an effective means of interaction to improve purchasing decisions in the younger generation consumer segment..
Copyright (c) 2026 Naili Rahma Yuliani, Sisno Riyoko, Mohamad Rifqy Roosdhani https://creativecommons.org/licenses/by-sa/4.0
Analysis of Factors Affecting The Effectiveness of Land And Building Tax Revenue in Rural-Urban Areas in South Buru District
The realization of Rural-Urban Land and Building Tax (PBB-P2) revenue in South Buru Regency is often not commensurate with the existing potential. This condition indicates obstacles in optimizing regional revenue sourced from the tax sector. This study aims to analyze the factors that influence the effectiveness of PBB-P2 revenue in South Buru Regency. The factors studied include taxpayer compliance, the tax collection system, and the quality of tax apparatus services. The study used a quantitative approach with a regression analysis method to examine the influence of these variables on the effectiveness of PBB-P2 revenue. The results show that the level of tax revenue effectiveness from 2020 to 2024 is classified as ineffective only in 2022, because in that year the effectiveness value is in the less effective category. The results of the partial multiple linear regression test indicate that the variables of taxpayer compliance, the tax collection system, and service quality have no significant effect on the effectiveness of tax revenue in South Buru Regency. However, all three variables simultaneously have a significant effect on the effectiveness of tax revenue in the region. Thus, the South Buru Regency Government needs to improve taxpayer compliance, the collection system, and the quality of services so that the effectiveness of tax revenue is more optimal.
Copyright (c) 2026 Afifudin Latuconsina, Djufri Rays Pattilouw, Izaac Tonny Matitaputty https://creativecommons.org/licenses/by-sa/4.0
Implementation Of An-Nubuwwah Values In Marketing Strategies To Increase Consumer Buying Interest (Case Study Of Arafah Cake Shop In Gowa Regency)
This research aims to analyze and examine (1) the implementation of An-Nubuwwah (prophetic) values in the marketing strategy of Arafah Cake Shop to increase consumer buying interest, and (2) the impact of implementing An-Nubuwwah values on consumer buying interest. JThe type of research used is descriptive qualitative.This research is a field study and does not use statistical data. Data were obtained directly from the field through observation, in-depth interviews (with the store owner, two employees, and two loyal customers), and document analysis. Data analysis was conducted through data reduction, data presentation, and conclusion drawing, with data validity tested using source and technique triangulation techniques.The application of An-Nubuwwah values (Shiddiq, Amanah, Tablīgh, Faṭonah) in the marketing strategy of Arafah Cake Shop has a significant positive impact on consumer buying interestThis value has successfully built a solid "Trust Capital," where trust driven by consistent product quality (Shiddiq) and fair pricing (Amanah) serves as a Unique Selling Proposition (USP). Consequently, the store achieves long-term loyalty and consistent, ethical repeat purchases. Theoretically, this study shows that the values of An-Nubuwwah (especially Shiddiq and Amanah) are key predictive factors that shape long-term customer loyalty, beyond conventional discount strategies.Practically, business actors (MSMEs) are advised to focus on internalizing ethics and moral consistency to build "Trust Capital," as this has been proven effective in creating sustainable, morally-based competitive advantages.
Copyright (c) 2026 Rahmaniar, Jamaluddin Majid, Mustakim Muchlis https://creativecommons.org/licenses/by-sa/4.0
Corruption and Economic Growth: Evidence from Four ASEAN Countries, 2012–2022
Corruption remains a persistent institutional problem that potentially constrains economic performance, particularly in developing regions such as Southeast Asia. This study examines the effect of corruption on economic growth in four ASEAN countries—Indonesia, Laos, Myanmar, and Cambodia—during the period 2012–2022. Using panel data regression analysis, this research incorporates corruption perception, human development, and constitutional quality as key explanatory variables influencing economic growth, measured by real GDP per capita. The Fixed Effect Model (FEM) is employed based on the results of the Chow and Hausman tests, indicating its suitability for capturing country-specific characteristics. The empirical findings reveal that corruption exerts a negative but statistically insignificant effect on economic growth, suggesting that its impact operates indirectly through inefficiencies in resource allocation and production processes. Meanwhile, the Human Development Index demonstrates a positive and statistically significant effect on economic growth, highlighting the crucial role of human capital investment in fostering sustainable economic performance. Constitutional quality shows a positive but insignificant relationship with economic growth, implying that institutional improvements alone may not be sufficient without effective enforcement and governance mechanisms. Overall, the results emphasize that enhancing human development remains the most effective strategy for accelerating economic growth in countries with relatively high levels of perceived corruption. These findings provide important policy implications for ASEAN governments in prioritizing human capital development alongside institutional reforms to achieve long-term economic growth.
Copyright (c) 2026 Onny Juliansyah, Yunastiti Purwaningsih, Suryanto https://creativecommons.org/licenses/by-sa/4.0
The Relationship Between ESG Performance and Firm Value Across All Sectors in Asia, Europe, and Australia: A Systematic Literature Review
In recent years, the integration of Environmental, Social, and Governance (ESG) principles into business strategies has become crucial due to increasing climate concerns and stakeholder demands. This study aims to systematically review empirical evidence on the relationship between ESG performance and firm value across various sectors in Asia, Europe, and Australia. Using a qualitative Systematic Literature Review (SLR) approach using the PRISMA protocol, 20 high-quality articles from 2020–2025 were analyzed. Data extraction focused on variables, theories, findings, and methodologies. The synthesis revealed a dominant positive correlation between ESG performance and firm value, particularly in Asia and Australia, with significant geographic and sectoral heterogeneity. ESG had a positive impact in the manufacturing and construction sectors, while results in the coal, oil, and aviation sectors were inconclusive or negative. Methodological diversity, including ESG data sources and firm value proxies, influenced the findings. In conclusion, the relationship between ESG and firm value is contextual, requiring ESG research and implementation to be tailored to local and sectoral characteristics.
Copyright (c) 2026 Mila Failasufa, Inten Mutia, Ika Sasti Ferina https://creativecommons.org/licenses/by-sa/4.0
Systematic Literature Review(SLR): The Influence of Intellectual Capital On Financial Performance in Developed and Developing Countries
This study examines the influence of intellectual capital on financial performance in developed and developing countries through a systematic literature review. The analysis included 35 peer-reviewed articles from 2019–2025 from databases such as ProQuest and ScienceDirect. Data extraction focused on the components of intellectual capital—human, structural, and relational—and their impact on financial metrics, including Return on Assets. Bibliometric analysis, descriptive content analysis, and simple statistics were used to identify patterns and gaps. The results indicate a generally positive effect of intellectual capital, particularly consistent in developing countries. While in developed countries, the impact is more complex and context-dependent, with human capital sometimes having a negative impact due to high operating costs. Structural capital is the most stable contributor. Innovation and political connections strengthen the influence in developing countries, while governance and digital transformation play a role in developed countries. The conclusions emphasize the critical role of intellectual capital, which differs across economic contexts and the need for tailored management strategies. Future research recommends the development of adaptive models and longitudinal studies.
Copyright (c) 2026 Olivia Putri Zahrani, Hasni Yusrianti, Shelly Febriana Kartasari https://creativecommons.org/licenses/by-sa/4.0
Communication with Investors: Strengthening Strategies to Address the Decline in the Jakarta Composite Index and Improve the Welfare of MSMEs
The volatility of the Jakarta Composite Index (JCI) in 2026 has created a precarious environment for both institutional investors and Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. This research explores the pivotal role of strategic investor communication in mitigating the adverse effects of market downturns and its subsequent impact on MSME welfare. Utilizing a qualitative-exploratory approach, the study analyzes how transparent, data-driven communication strategies can stabilize investor sentiment and prevent capital flight during bearish periods. Furthermore, it investigates the structural link between capital market stability and the informal economy, particularly how fluctuations in the JCI influence the availability of credit and partnership opportunities for MSMEs. Grounded in Signaling Theory and Stakeholder Theory, the findings suggest that effective communication acts as a buffer against market irrationality. The research highlights that while a decline in the JCI often leads to tightened liquidity, proactive engagement strategies can sustain investor confidence in the long-term resilience of the Indonesian economy. This study concludes with a proposed framework for "Integrated Financial Communication" that synchronizes macro-level market signaling with micro-level MSME support systems to ensure holistic economic welfare.
Copyright (c) 2026 Siti Aisyah, Made Susilawati, Nadiya Yunan, Iswanto, Liza Utama https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Online Credible Reviews With Brand Trust As An Intervening Variable On Purchase Intention ( A Study On Adorable Project In Bandung)
Amid Indonesia's e-commerce surge, online review credibility increasingly shapes purchase decisions on platforms like Shopee, yet fake reviews erode brand trust. This study examines the influence of online review credibility on purchase intention with brand trust as a mediating variable among Adorable Project consumers in Bandung. Employing a quantitative survey approach with cross-sectional design, data from 100 purposive-sampled Shopee buyers were analyzed using PLS-SEM via SmartPLS 4.0. Instruments adapted validated scales measuring source/review/consumer characteristics (Cheung et al., 2009), brand reliability/intentions (Delgado-Ballester et al., 2003), and multi-dimensional purchase intentions (Ferdinand, 2012). Results reveal significant direct effects: credibility → trust (β=0.775, p=0.000), trust → intention (β=0.526, p=0.006), credibility → intention (β=0.410, p=0.033), and indirect mediation (β=0.408, p=0.015), explaining 78% intention variance. In conclusion, brand trust partially mediates credible reviews' impact, urging local brands to prioritize authentic, photo-verified testimonials over incentives.
Copyright (c) 2026 Shella Natasya Sri Mutiara Baringbing, Arianis Chan, Lina Auliana https://creativecommons.org/licenses/by-sa/4.0
Development of a Company Profile Application Prototype as a Digital Promotional Medium for PT Harmoni Persada Travel Company
The digital transformation of the tourism industry demands a structured promotional platform for SMEs competing in the digital-native market. This study developed a prototype company profile application for PT Harmoni Persada Travel using a Research and Development (R&D) methodology with a prototype approach. The population included company stakeholders and potential users, with a purposive sampling of 10 respondents. Data collection used interviews, observations, document analysis, and a System Usability Scale (SUS) questionnaire supplemented by thematic analysis of open-ended feedback. The results showed strong prototype usability: 88% satisfaction with visual appeal, 85% ease of navigation, and 84% feasibility of development. The prototype successfully integrated the company profile, tour packages, destination gallery, basic chatbot, and contact using Figma with a consistent brand identity design. Conclusion: The structured R&D methodology enables travel SMEs to shift from conventional promotions to a professional digital platform, improving their competitive position.
Copyright (c) 2026 Mugia Mutla Hara Atasyriqi, Farid Fadhilah Rochdiana, Hendra Gunawan https://creativecommons.org/licenses/by-sa/4.0
The Effect of Liquidity on Profitability with Leverage as Mediation in Manufacturing Companies Food and Beverage Subsectors Registered in Indonesia Stock Exchange 2022-2023
The manufacturing sector, particularly the food and beverage subsector, contributed 6.61% of Indonesia's GDP in 2023, but faces a liquidity-profitability imbalance amid post-pandemic challenges. This study aims to analyze the effect of liquidity on profitability with leverage as a mediating variable in food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2022-2023 period. Using a quantitative causal associative approach with an explanatory research design and path analysis, the population included 83 companies, with a purposive sample of 34 companies resulting in 68 observations. Variables measured as the current ratio (CR) for liquidity, debt-to-equity ratio (DER) for leverage, and return on assets (ROA) for profitability were analyzed using EViews 13, including multiple regression, t-test, F-test, and Sobel test. The results showed no significant direct effect of liquidity on profitability (p=0.1432) or mediation by leverage (Sobel Z=0.281, p>0.05), with low explanatory power (Adjusted R²=0.004466). In conclusion, external factors dominate the dynamics of profitability, so efficient asset management is required rather than excess liquidity.
Copyright (c) 2026 Baiq Emi Supiana, I Nyoman Nugraha Ardana Putra https://creativecommons.org/licenses/by-sa/4.0
The Transformation of Iddah Law: Towards Gender Equality and Family Justice in Islamic Society
This research is intended to offer a strategy for reforming iddah law in improving women's empowerment and family justice. Qualitative research, with the Library Research approach, this study investigates the concept of iddah law, its implementation in society, as well as the obstacles that may be faced, and strategies that can be offered for the renewal of iddah law with a focus on achieving gender equality and family justice. The results of the study show that iddah law has a central role in the structure of Islamic family law, but its implementation can pose challenges related to gender equality. These obstacles include aspects of conservative interpretation, social norms, and resistance to change. The strategy offered is the collaborative involvement of religious institutions, the government through a community education approach to create a more inclusive legal environment and support women's empowerment and family justice. It is hoped that the implementation of this strategy can have a positive impact on changes in social norms, reduce gender inequality, and create a basis for a more equitable family life in the context of Islamic society.
Copyright (c) 2026 Maya Aufa, Nurul Ma’rifah, Ma’zumi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Public Infrastructure on Community Welfare in South Buru Regency
This study analyzes the influence of public infrastructure—particularly electricity and road infrastructure—on public welfare in South Buru Regency during the period 2010–2024. Using a quantitative time series approach and the Ordinary Least Squares (OLS) method, this study aims to measure the extent to which infrastructure improvements contribute to regional economic growth and improved public welfare. The variables used include electricity infrastructure (X1), road infrastructure (X2), and public welfare (Y), which is proxied by the level of economic growth and per capita income. The results of the analysis indicate that both electricity and road infrastructure have a positive and statistically significant influence on public welfare. This finding is in line with the public capital theory and endogenous growth theory, which state that infrastructure acts as a catalyst for economic activity and long-term welfare improvement. Therefore, it is recommended that the local government prioritize integrated infrastructure development policies between the energy and transportation sectors to encourage inclusive and sustainable economic growth in South Buru Regency
Copyright (c) 2026 Sri Dewi Nurlette, Maryam Sangadji, Andre Sapthu https://creativecommons.org/licenses/by-sa/4.0
The Influence of Nutritional Labels and Health Awareness on Frozen Food Purchase Decisions
The increase in frozen food consumption along with modern lifestyles emphasizes the need to understand the factors influencing purchasing decisions. This study aims to analyze the influence of nutritional labels and health awareness on purchasing decisions for frozen food products among the people of Mataram City. Using a quantitative associative-causal approach, data were collected through an online questionnaire from 100 purposive sampling respondents with multiple linear regression analysis in SPSS 27. The results showed that nutritional labels (t=2.316, p=0.023) and health awareness (t=7.664, p=0.000) had a significant effect both partially and simultaneously (F=49.856, p=0.000), explaining 50.7% of the variation (R²=0.507). The conclusion states that clear nutritional information and high health awareness encourage selective purchasing among young female students, so manufacturers are advised to improve label quality and the government to promote nutritional literacy for healthier consumption.
Copyright (c) 2026 Ayu Pujiarti, Lalu Muhammad Furkan https://creativecommons.org/licenses/by-sa/4.0
The Effect of ESG Risk Rating and Leverage on Stock Returns with Profitability as a Moderating Variable in Mining Sector Companies Listed on the Stock Exchange Indonesia's Impact 2020-2024
Stock returns in the mining sector on the Indonesia Stock Exchange (IDX) experienced high volatility during 2020-2024 due to commodity price fluctuations and the impact of the pandemic. This study aims to analyze the effect of ESG Risk Rating and leverage on stock returns, with profitability (ROE) as a moderating variable in mining companies listed on the IDX. Using quantitative explanatory research with panel data from 15 purposive sample companies (ANTAM, INCO, etc.), secondary data from financial reports, Sustainalytics ESG ratings, and daily stock prices were analyzed through EViews panel regression (Random Effects Model). The results show that ESG Risk Rating has a positive but insignificant effect (β=0.021966, p=0.0578), leverage (DER) has no significant effect (p=0.5248), and ROE fails to moderate both relationships (p>0.05). The model only explains 3.83% of the return variation (Adjusted R²=0.038). In conclusion, external factors dominate mining stock returns compared to internal financial metrics in the volatile Indonesian commodity market.
Copyright (c) 2026 Christian Valentino Wahyu Leo, Siti Aisyah Hidayati https://creativecommons.org/licenses/by-sa/4.0
The Influence of Trust in Fintech and Perceived Security on the Decision to Use E-Wallets among Students in Mataram City
The rapid growth of fintech, particularly e-wallets, is driving financial inclusion amidst increasing cybersecurity risks, but trust in fintech and perceived security are major barriers to adoption among university students. This study aims to analyze the influence of trust in fintech and perceived security on e-wallet adoption decisions among university students in Mataram City. Using an associative quantitative approach, data were collected through a Likert-scale questionnaire from a population of active e-wallet users, with a sample of 100 respondents determined using the Lemeshow formula and simple random sampling. The instrument was validated through factor analysis (KMO >0.6) and reliability (Cronbach's Alpha >0.7), and analyzed using SPSS 26 multiple linear regression after classical assumption testing. The results showed that trust in fintech (β=0.312, p=0.000) and perceived security (β=0.285, p=0.000) had a significant positive effect on adoption decisions (R²=61.2%). In conclusion, both variables explain adoption substantially, with trust being more dominant, recommending increased transparency and anti-phishing features for providers.
Copyright (c) 2026 Febbyola Tri Lestari, Siti Aisyah Hidayati, I Gusti Agung Arista Pradnyani https://creativecommons.org/licenses/by-sa/4.0
Marketplace Responsibility for the Trade in Counterfeit Formula Milk from the Perspective of MUI FATWA NO. I/MUNAS VII/MUI/5/2005 Concerning Intellectual Property Rights
Marketplaces make it easier for consumers to search and compare products to be purchased on the marketplace platform. Consumers have the opportunity to get products at relatively low prices through various offers listed in the product description. However, it is undeniable that this convenience raises issues regarding product authenticity, especially if the product is sold at a low price from an unauthorized store, one of which is the trade of counterfeit formula milk on Shopee and Tokopedia. This study aims to determine and analyze what trademark violations are, and how the marketplace's responsibility is towards the trade of counterfeit formula milk products from the perspective of the MUI fatwa Number I/MUNAS VII/MUI/5/2005. This type of research uses normative juridical with a descriptive analytical research nature, the data source used is secondary data as the main source. Data were collected through library research. The documents collected include laws and regulations, the MUI Fatwa Number I/MUNAS VII/MUI/5/2005, and include various literature related to the research such as books, relevant scientific journals, and other academic references that support the research analysis. The research results show that there are trademark violations committed by individuals with bad intentions and are not responsible for their actions, namely piracy, counterfeiting, and imitation of brand labels. And the marketplace's responsibility for the trade in counterfeit formula milk covers several aspects, namely: quality control, safety, and the validity of product information.
Copyright (c) 2026 Audi Mutia Adrivia Nasution, Rahmad Efendi https://creativecommons.org/licenses/by-sa/4.0
SWOT-Based Business Model Canvas Analysis as a Tourism Industry Development Strategy for Situ Rawa Gede in Bekasi
This study examines the development strategy of Situ Rawa Gede, a community-based urban nature tourism site in Bekasi City, Indonesia. Although it has strong potential as the city’s largest lake and a growing attraction since 2019, the site faces challenges such as limited digital promotion, the absence of a structured masterplan, and broad market segmentation. The research applies a qualitative approach, using interviews with community leaders, SMEs, visitors, and government officials, supported by documentation and observation. The analysis integrates the Business Model Canvas (BMC) with SWOT analysis. The results show that Situ Rawa Gede’s strengths include its natural setting, affordable prices, and the involvement of local SMEs and community groups, while weaknesses relate to limited branding, weak coordination, and reliance on daily visitors. Opportunities lie in government support, demand for eco-education tourism, and digitalization, whereas threats include competition from modern destinations and climate risks. The SWOT suggesting proactive measures such as service digitalization, product diversification, and cross-sector collaboration.
Copyright (c) 2026 Rabhi Fathan Muhammad, Tatik Mulyati, Erik Setya Ramadhan https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Implementation Of Innovation In Cooperation Between Government, Banks And Business In Developing Msmes In Central Maluku Regency
Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the regional economy, yet they still face limitations in access to financing and business capacity. The Central Maluku Regency Government has developed policy innovations through Government, Bank, and Business Cooperation in the development of MSMEs. This study aims to analyze the implementation of these collaborative innovations and their impact on MSME development in Central Maluku Regency. The study employed a mixed methods approach, with qualitative analysis to examine the policy implementation process and quantitative analysis through regression to examine the program's impact on MSME performance. Data were obtained through interviews, questionnaires, observations, and documentation studies. The results indicate that the implementation of collaborative innovations has progressed through the stages of socialization, data collection, financing distribution, mentoring, and monitoring and evaluation. The regression analysis indicates that the implementation of collaborative innovations between the government, banks, and businesses has a positive and significant impact on MSME development.
Copyright (c) 2026 Mauwa Latupono, Maryam Sangadji, Jopie Tamtelahitu https://creativecommons.org/licenses/by-sa/4.0
Analysis of Budgetary Accounting Accountability to Improve the Quality of Financial Reports
Accountability in budget management is critical to enhancing the integrity of financial statements at private colleges. The purpose of this research is to examine budget accounting responsibility and how it might enhance the integrity of financial statements by utilising an integrated Accounting Information System (AIS). A qualitative case study technique was used in the research methodologies. Data were gathered through interviews, and document analysis. The findings revealed that effective budget accountability has a vital role in boosting the openness of budget management, resulting in more accurate, relevant, and timely financial reporting. This study recommends that the Islamic University in Baubau City, a private university, improve budget management by implementing an integrated accounting information system to improve accountability and financial statement quality, as well as strengthen public trust in the institution
Copyright (c) 2026 Bahrun, Ahmad Juanda, Driana Leniawati https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Role of Customer Engagement in Mediating the Effect of Video Information Quality and Perceived Authenticity on Purchase Intention: A Study on Kick Avenue TikTok
The rapid development of social commerce on TikTok has changed consumer purchasing behavior in Indonesia, but the mediating role of customer engagement between video information quality, perceived authenticity, and purchase intention remains underexplored, especially for premium sneaker brands like Kick Avenue. This study aims to analyze the mediating effect of customer engagement on the influence of Video Information Quality (VIQ) and Perceived Authenticity (PA) on Purchase Intention (PI). Using an explanatory quantitative design with a cross-sectional online survey (n=240 purposive samples of TikTok users aged ≥17 who viewed Kick Avenue content), data were collected through a 20-item Likert-4 scale questionnaire adapted from validated sources and analyzed with SEM-PLS on SmartPLS 4.0. The results showed significant direct effects (VIQ→PI β=0.386; PA→PI β=0.450; CE→PI β=0.394, all p<0.001) and partial mediation (VIQ→CE→PI β=0.174; PA→CE→PI β=0.107, p<0.001), explaining 69.2% of the variance in CE and 41.8% of the variance in PI (Q²=0.821). In conclusion, quality and authentic video content drives engagement to increase purchase intention, providing guidance for TikTok strategies for retailers.
Copyright (c) 2026 Nilna Muna, I Putu Indra Wiguna https://creativecommons.org/licenses/by-sa/4.0
Legal Analysis of the System in the Practice of Staple Food Arisan in Bangun Rejo Village, Tanjung Morawa District from the Perspective of Al-Maslahah
This study aims to analyze the legal aspects of the staple food arisan system implemented in Bangun Rejo Village, Tanjung Morawa District, and how the Al-Maslahah perspective as one of the theories of Islamic legal determination applies to the staple food arisan practice. Staple food arisan is a socio-economic activity often carried out by the community with the aim of helping to meet basic needs affordably, although in its implementation it can give rise to potential legal issues related to the discrepancy between the value of goods, clarity of contracts, price changes, and its management system. This study was conducted using an empirical juridical method, namely one that examines based on field data through interviews or observations and supported by related legal literature. The approach used is a sociological approach and a conceptual approach. The results of this study indicate that the staple food arisan practice in Bangun Rejo Village provides considerable benefits to the community, such as making it easier for people to meet basic needs and can foster a sense of togetherness among fellow human beings. However, from an Islamic legal perspective, this practice must be given more attention, especially in determining the contract which must be clear, equal in price value, and avoid elements that have the potential to cause uncertainty and loss. Thus, the principle of Al-Maslahah can be used as a basis for improving the basic food arisan system so that it can continue to provide benefits in accordance with Islamic principles.
Copyright (c) 2026 Siti Masyita, Sahliah https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Influence of Spiritual and Emotional Dimensions on Customer Loyalty Through Satisfaction as an Intervening Factor at BSI KCP Sinjai
This study aims to analyze the influence of spiritual dimension, emotional dimension, and service quality on customer loyalty with satisfaction as an intervening variable at Bank Syariah Indonesia (BSI) KCP Sinjai. This research employed a quantitative approach using Structural Equation Modeling–Partial Least Square (SEM-PLS). A total of 100 respondents were selected through purposive sampling. The research instrument was tested for validity and reliability through the outer model, while hypothesis testing was conducted using the inner model. The findings indicate that all independent variables have a positive and significant effect on customer satisfaction and loyalty. Furthermore, satisfaction significantly mediates the relationship between spiritual dimension, emotional dimension, and service quality on customer loyalty. These results highlight that integrating spiritual values, emotional experience, and service quality is a strategic factor in strengthening customer loyalty in Islamic banking.
Copyright (c) 2026 Hasanuddin Atong, Mujahidin, Muh Rasbi https://creativecommons.org/licenses/by-sa/4.0
Application of the Job Demands-Resources Model to Understand the Mechanism of Job Rotation as a Predictor of Innovative Work Behavior
Based on the Job Demands-Resources model (Bakker & Demerouti, 2007), we conducted an empirical study on how job rotation mechanisms in the form of Employee-Initiated Job Rotation (IRO), Management-Decision-Based Job Rotation (MRO), and No Job Rotation (TRP) impact work attitudes in the form of work engagement, job tension, job satisfaction, organizational commitment, and innovative work behavior. Data collection was conducted through an online survey distributed via Microsoft Form to employees at the Ministry of Finance. There were 1,151 questionnaires analyzed using Structural Equation Modeling (SEM) to test the research hypotheses. The results of this study indicate that job engagement, job satisfaction, and organizational commitment sequentially positively mediate the influence of IRO and IRO on innovative work behavior. At the same time, job tension, job satisfaction, and organizational commitment sequentially negatively mediate the influence of TRP on innovative work behavior.
Copyright (c) 2026 fauzan akbar, Reni Rosari https://creativecommons.org/licenses/by-sa/4.0
Analysis of Abnormal Return and Trading Volume Activity on the Announcement of Danantara Holding in Conventional Banks Listed on the Indonesia Stock Exchange (IDX)
This study analyzes market reactions to the announcement of the Danantara Holding in conventional banks listed on the Indonesia Stock Exchange (IDX) using an event study methodology. Amidst the resilience of the Indonesian capital market in 2024 (IHSG: 7,036.57), the Danantara announcement on February 24, 2025, raises questions about the market's efficiency in absorbing structural policy information. The study aimed to examine the differences in Abnormal Return (AR) and Trading Volume Activity (TVA) before and after the announcement. This descriptive quantitative study used purposive sampling of 50 conventional banks, resulting in 12 samples (168 observations). Secondary data from the IDX, Yahoo Finance, and Investing.com were analyzed using a market-adjusted model, normality tests (Kolmogorov-Smirnov/Shapiro-Wilk), and the Wilcoxon Signed Rank Test using SPSS. The results show that the difference in AR is not significant (Sig. 0.827 > 0.05; mean: 0.0036 to -0.0005) but the increase in TVA is significantly positive (Sig. 0.000 < 0.05; mean: 0.0010 to 0.0016), rejecting both hypotheses. The findings confirm semi-strong market efficiency where structural policy information has been anticipated, consistent with the EMH and signaling theory.
Copyright (c) 2026 Fahimma Nur Aulia, Burhanudin https://creativecommons.org/licenses/by-sa/4.0
The Influence of Perceived Product Innovation on Purchase Intention through the Mediating Variable of Local Brand Pride in Perfume Products
The growth of Indonesia’s creative industry highlights the importance of understanding how innovation and consumer perceptions shape purchasing behavior toward local products, particularly in the perfume sector. This research focuses on identifying the role of Local Brand Pride in mediating the influence exerted by Perceived Product Innovation on Purchase Intention within Indonesia’s local perfume product segment. This study employs a quantitative causal-associative design, with data collected through structured questionnaires from 150 consumers of local perfume products in Indonesia and analyzed using SmartPLS 4. The results indicate that Perceived Product Innovation has a significant positive effect on Purchase Intention and Local Brand Pride, while Local Brand Pride significantly influences Purchase Intention and acts as a mediating variable. From practical and policy perspectives, these findings suggest that innovation-driven product development can foster pride in local brands and enhance consumers’ willingness to purchase. Future research is encouraged to explore additional psychological or cultural variables and to extend the analysis to other creative industry sectors.
Copyright (c) 2026 Adilah Al Humaira, Sulhaini https://creativecommons.org/licenses/by-sa/4.0
Tax Avoidance in Energy Companies: The Roles of ESG, Capital Intensity, and Transfer Pricing
The main focus of this study is to analyze the impact of three key factors: Environmental, Social, and Governance (ESG), Capital Intensity, and Transfer Pricing, on tax avoidance practices among companies in the Indonesian energy sector, using the Effective Tax Rate (ETR) as an indicator. This research is motivated by the increasing public demand for fiscal transparency and the widespread cases of tax avoidance through profit shifting, as seen in the Adaro Energy case, which highlights the complexities of tax governance in the energy sector. The testing was conducted using a quantitative method with multiple linear regression analysis (via SPSS) on 132 observations of energy companies during the period 2021–2024. This study found that ESG has a significant negative impact on tax avoidance practices, while capital intensity has a significant positive impact on these practices. Transfer pricing was not found to have a significant effect. The conclusion of these findings underscores the crucial role of sustainability practices (ESG) and corporate asset structure in shaping tax behavior, while also highlighting the need for stricter oversight of related-party transactions. This research is expected to provide a substantive contribution to the development of academic literature and to offer strategic recommendations for regulators in formulating tax policies that are more adaptive and effective in line with the evolving dynamics of the energy sector.
Copyright (c) 2026 reza shah fahrezi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Perceived Organizational Support on Work Meaningfulness and Its Impact on Employee Life Satisfaction and Employee Creativity
This study aims to analyze the influence of Perceived Organizational Support (POS) on Work Meaningfulness and its impact on Employee Life Satisfaction and Employee Creativity among Civil Servants in the Public Order Police Unit (Satpol PP) in West Java. The study population includes 338 civil servants from the Satpol PP in five regions (Cirebon Regency, Kuningan Regency, Majalengka Regency, Cirebon City, and Indramayu Regency). The research sample was determined using the 10:1 rule of thumb approach (Hair et al., 2019), based on the number of indicators, which is 17, resulting in a minimum requirement of 170 respondents. Sample distribution was done proportionally in each region, while respondent selection in the second stage used convenience sampling as a form of multi-stage sampling. Data analysis was conducted using Structural Equation Modeling (SEM) with the assistance of AMOS. The research findings indicate that (1) POS has a positive effect on employee life satisfaction and employee creativity; (2) POS has a positive effect on work meaningfulness; (3) work meaningfulness has a positive effect on employee life satisfaction and employee creativity; and (4) work meaningfulness is proven to mediate the relationship between POS and both employee life satisfaction and employee creativity. These findings confirm that organizational support not only directly enhances employees' life satisfaction and creativity but also indirectly increases work meaning. Therefore, human resource management strategies at Satpol PP need to focus on improving the perception of organizational support and creating work meaning to strengthen the well-being and creativity of civil servants in the local government work environment.
Copyright (c) 2026 Jujun Juhedi, widodo, Zaenal Mustafa El Qadri, Wisnu Prajogo https://creativecommons.org/licenses/by-sa/4.0
The Influence of Investment Knowledge, Motivation, And Income on Investment Decisions Shariah Mutual in The Community Pekanbaru City
This study aims to analyze the influence of investment knowledge, motivation, and income on investment decisions in sharia mutual funds among the people of Pekanbaru City. The primary background for selecting this location is the high economic potential and the dominance of the productive-age population in Pekanbaru. This research employs a quantitative method, with data collection conducted through questionnaires distributed to 100 respondents in Pekanbaru City. Data analysis techniques include multiple linear regression analysis using SPSS 26 software, encompassing research instrument tests, classical assumption tests, hypothesis testing, and multiple linear regression analysis. The results indicate that the t-count for investment knowledge is 1.267 < 1.984 (t-table) with a significance value of 0.208 > 0.05, suggesting that investment knowledge has no significant influence on sharia mutual fund investment decisions among the people of Pekanbaru City. Conversely, the t-count for motivation and income are 4.520 and 4.418, respectively, both exceeding the t-table value of 1.984, with significance values less than 0.05 (0.000 < 0.05). This indicates that motivation and income have a positive and significant influence on sharia mutual fund investment decisions. Furthermore, the F-count (158.874 > 2.70) confirms that investment knowledge, motivation, and income simultaneously have a significant effect on investment decisions. The coefficient of determination (R2) of 0.827 shows that these three variables explain 82.7% of the variation in investment decisions, while the remaining 17.3% is explained by other variables outside this research model.
Copyright (c) 2026 Khairul Fadilah, Mahyarni, Syahpawi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Perceived Ease of Use and Convenience on the Decision to Use QRIS among Students of the Faculty of Economics and Business, University of Mataram
The development of digital payment technology in Indonesia is rapid, with QRIS transactions reaching IDR 266 trillion in 2024, but its application is still limited among students despite high awareness. This study aims to analyze the influence of perceived ease of use and convenience on the decision to use QRIS among students of the Faculty of Economics and Business, University of Mataram partially and simultaneously. The type of associative quantitative research with multiple linear regression analysis using SPSS 26. The population of 3,934 active students, a sample of 100 people was selected purposively with the Slovin formula (e = 10%) who had used QRIS. The Likert scale questionnaire instrument (36 items) was validated, analyzed using classical assumption tests (normality, multicollinearity, heteroscedasticity). The results showed that perceived ease of use (β = 0.219, t = 2.442, Sig = 0.016) and convenience (β = 0.675, t = 6.499, Sig = 0.000) had a significant effect partially; F=135.456 (Sig=0.000), explaining 73.6% of the variance (R²=0.736). In conclusion, the second factor driving QRIS implementation suggests optimizing user-friendly design for stakeholders, even though it is limited to one faculty.​
Copyright (c) 2026 Vrannya Swartihtha Ray, Alamsyah AB https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Activity Based Costing And Cost Volume Profit To Determine Optimal Profit At The Eka Jaya Opak Factory
Competition in the traditional food industry requires Micro, Small, and Medium Enterprises (MSMEs) to have an accurate costing system to support optimal selling price determination and profit planning. The Eka Jaya Opak Factory, one of the MSMEs processing raw opak in Deli Serdang Regency, still uses conventional costing methods that only calculate raw material and direct labor costs, while factory overhead costs have not been allocated systematically. This condition has the potential to cause cost distortion and inaccuracies in profit planning. This study aims to analyze the application of Activity-Based Costing (ABC) in determining the cost of production and integrate it with Cost-Volume-Profit (CVP) analysis to determine optimal profit. This study uses a qualitative descriptive approach with data collection techniques through observation, interviews, and documentation. Data are analyzed through the stages of data reduction, data presentation, and conclusion drawing. The results show that the cost of production based on the ABC method is Rp 7,050.3/kg, higher than the conventional method of Rp 6,681/kg because overhead costs are allocated based on actual activities that consume resources. The integration of ABC and CVP resulted in an optimal selling price strategy at a 50% markup with a profit of Rp 109,984,664 per month, a Break Even Point of 6,394 kg, and a Margin of Safety of 79.5%. These findings indicate that the integrated ABC and CVP approach can improve the accuracy of cost information and support managerial decision-making in MSME profit planning more effectively and sustainably.
Copyright (c) 2026 Zainab Khoiriyah, Nurwani, Laylan Syafina https://creativecommons.org/licenses/by-sa/4.0
Optimizing the Production Cost Budget as an Instrument for Planning and Cost Control at PT. Perkebunan Nusantara IV Kebun Panai Jaya
This study aims to determine how the production cost budget is used as an instrument for planning and controlling production costs at PT. Perkebunan Nusantara IV (Persero) Kebun Panai Jaya. This study is expected to provide input for company management regarding the role of the budget as a planning and control tool. The research method used is qualitative research with a descriptive approach to explore budget fluctuations and production cost realization, as well as changes in budget productivity and production cost realization. The research subjects consisted of the Head of the Accounting Department, one accounting staff, and the Treasurer of the Finance Department of PT. Perkebunan Nusantara IV (Persero) Kebun Panai Jaya. Data collection was conducted through interviews with the finance department. The data analysis technique used is a method that collects, organizes, interprets, and analyzes data to solve problems encountered. The results of this study indicate differences between budgeted and realized production costs, as well as a decrease in productivity in certain years. The use of the budget must also be accompanied by a more in-depth variance analysis to identify the causes of deviations. Therefore, necessary steps can be taken to minimize adverse variances between the budget and actual results. Thus, the function of the budget as a planning and control tool can be more effective and efficient.
Copyright (c) 2026 Widya Dwi Syahprya, Nur Ahmadi Bi Rahmani, Nurwani https://creativecommons.org/licenses/by-sa/4.0
The Influence of Influencer Marketing, Electronic Word of Mouth (e-WOM), and Brand Awareness on the Decision to Play Roblox in Mataram City
The development of the online gaming industry in Indonesia prompted this study to analyze the influence of influencer marketing, electronic word of mouth (e-WOM), and brand awareness on the decision to play Roblox in Mataram City. The study aims to test the causal relationship between the three independent variables and the dependent variable using a causal associative quantitative approach. The population is the young generation of active Roblox players in Mataram, with a sample of 97 respondents selected purposively (aged 18-25 years). The instrument, a 5-point Likert questionnaire, was tested for validity (r > 0.196) and reliability (alpha > 0.60), analyzed using SPSS multiple linear regression after classical assumption testing. The results showed a significant simultaneous effect (R² = 0.693; F = 69.891, p < 0.05) and positive partial (influencer marketing β = 0.233 p = 0.012; e-WOM β = 0.480 p = 0.000; brand awareness β = 0.313 p = 0.000), with e-WOM being the most dominant. The conclusion states that all three factors effectively drive gaming decisions, different from physical product studies, with implications for regional digital marketing strategies
Copyright (c) 2026 Adinda Melisa Putri, Akhmad Saufi https://creativecommons.org/licenses/by-sa/4.0
Implementation of Law Number 23 of 2011 On the Use of Zakat Funds for the Productive Economic Program of Dompet Dhuafa Waspada North Sumatra
Dompet Dhuafa Waspada North Sumatra is one of the zakat collection institutions that implements productive economic programs based on zakat funds. However, in its implementation, the productive economic program still faces several problems in the field. This study aims to analyze the implementation of Law Number 23 of 2011 on the use of zakat funds for productive economic programs at Dompet Dhuafa Waspada North Sumatra. This study uses an empirical juridical method with a sociological approach and a statute approach. Data were obtained through interviews and documentation studies. Then, the data were analyzed qualitatively with deductive reasoning. The results of the study indicate that the implementation of the use of zakat funds for productive economic programs at Dompet Dhuafa Waspada North Sumatra has not been running optimally in accordance with the mandate of Law Number 23 of 2011. This condition is evident from the unfulfilled principles of equality, justice, and territoriality, as well as the suboptimal functions of planning, mentoring, and program supervision. The main problems lie in the management aspect of the program, namely limited program distribution, limited funding, minimal variety of productive business types, suboptimal mentoring and supervision, and low managerial skills and financial literacy among mustahik. Therefore, strengthening planning, mentoring, supervision, and institutional synergy is needed so that productive zakat management can encourage the economic independence of mustahik and achieve the goals of social justice and welfare.
Copyright (c) 2026 Rizki Juliana, Abd Rahman Harahap https://creativecommons.org/licenses/by-sa/4.0
Environmental Awareness as a Mediator: Understanding the Relationship Between Community Attachment and Green Consumption in Lembah Harau Nature Park
This research comprehensively examines the mediating role of environmental awareness in the relationship between the three dimensions of community attachment (affective attachment, place dependence, and place identity) and green consumption behavior within the vulnerable ecosystem of Lembah Harau Nature Park, West Sumatera. Amid escalating global environmental concerns, fostering sustainable consumption is imperative in natural destinations. Employing a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) with a robust sample of 262 respondents (comprising tourists and local residents), this study unveils critical insights into the underlying psychological mechanisms. The results indicate that affective attachment and place dependence significantly and positively influence environmental awareness. Crucially, environmental awareness subsequently serves as the sole, potent full mediator, confirming its pivotal role as the primary catalyst for responsible consumption. Specifically, emotional and functional bonds to Lembah Harau translate into green consumption behavior exclusively through heightened environmental awareness. Conversely, place identity surprisingly demonstrated no significant effect on either environmental awareness or green consumption in this context. These findings underscore that while emotional and functional attachments form a necessary foundation, cognitive environmental awareness is the central mechanism that drives sustainable behavior. Practical implications for destination managers and policymakers highlight the necessity of prioritizing effective, targeted environmental awareness strategies to actively promote sustainable tourism practices in Lembah Harau, extending beyond the mere cultivation of passive place attachment.
Copyright (c) 2026 Heksa Putera Eksa, Lilik Wahyudi https://creativecommons.org/licenses/by-sa/4.0
Fostering Customer Happiness: The Strategic Role of E-WOM, Social Media Influencers, E-Marketing, Trust, and Intention to Purchase in TikTok
This study investigates the strategic roles of Electronic Word of Mouth (E-WOM), Social Media Influencers, E-Marketing, Trust, and Intention to Purchase in fostering Customer Happiness within the TikTok Live Shopping platform in Indonesia. Employing a quantitative approach, a survey was administered to 324 active TikTok Live Shopping users, and the collected data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that E-Marketing significantly influences Customer Happiness (T-Test = 4.9586), Intention to Purchase (T-Test = 6.1344), and Trust (T-Test = 9.8557). Interestingly, E-WOM and Social Media Influencers do not directly impact Customer Happiness. However, E-WOM significantly affects Trust (T-Test = 3.5470), while Social Media Influencers significantly influence Intention to Purchase (T-Test = 6.8632). Furthermore, Intention to Purchase is proven to positively and significantly enhance Customer Happiness (T-Test = 4.6848), and Trust emerges as a very strong predictor of Customer Happiness (T-Test = 8.3383). These findings suggest that within TikTok Live Shopping, E-Marketing, Trust, and Intention to Purchase are the primary drivers of customer happiness, with E-WOM and Social Media Influencers playing crucial roles in building trust and stimulating purchase intentions, which ultimately lead to happiness. This research contributes to digital marketing literature by providing an in-depth understanding of consumer behavior dynamics in interactive e-commerce platforms.
Copyright (c) 2026 Ferdy Rusyanda Ferdy, Lilik Wahyudi https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Destination Image, Smart Tourism Technology, Environmental Concern, And Destination Innovation On Experience Quality, Tourist Satisfaction, And Tourist Loyalty In Wonosobo
The purpose of this study is to measure the relationship between Destination Image, Smart Tourism Technology, Environmental Concern, Destination Innovation, Experience Quality, Tourist Satisfaction, and Tourist Loyalty. A quantitative approach was applied by collecting data from local tourists visiting tourist destinations in Wonosobo Regency. Data collection was conducted online by sending a questionnaire link to respondents. Structural Equation Modeling (SEM) was used for analysis in this study. The results showed that Destination Image, Smart Tourism Technology, Environmental Concern, Destination Innovation, Experience Quality, and Tourist Satisfaction have a significant impact on Tourist Loyalty to revisit tourist destinations in Wonosobo Regency. This study is expected to provide guidance to destination marketing managers to make their destinations sustainable by fostering visitor loyalty. To achieve this goal, The destination is suggested to leverage Destination Image, Smart Tourism Technology, environmentally friendly destinations, and innovation to enhance the quality of experiences and customer satisfaction, encouraging tourists to return.
Copyright (c) 2026 Muchammad Syafiq Murtadho Syafiq, Sarwoto https://creativecommons.org/licenses/by-sa/4.0
The Influence of Compensation, Work Environment, Work Motivation, Job Satisfaction, and Work Involvement on Employee Productivity in Restaurants in Tegal City
The purpose of this study is to examine the effects of compensation, work environment, work motivation, job satisfaction, and work engagement on employee productivity in restaurants in Tegal City. This quantitative study employed a survey method involving 153 restaurant employees selected through purposive sampling. Data were collected using a structured questionnaire developed based on the indicators of each research variable. Data analysis was conducted using SPSS version 25, including validity and reliability tests, classical assumption tests, and multiple linear regression analysis. The results indicate that the five independent variables simultaneously have a significant effect on employee productivity (F = 128.521; Sig. < 0.001), with a coefficient of determination of 0.814, meaning that 81.4% of the variance in employee productivity is explained by the research model. Partially, compensation, work motivation, and work engagement have a positive and significant effect on employee productivity, while work environment and job satisfaction have a positive but insignificant effect. These findings emphasize the importance of integrated and sustainable human resource management in enhancing employee productivity in the restaurant sector
Copyright (c) 2026 Tiara Diva Putriyanti, Erny Rachmawati, Suyoto, Hengky Widhiandono https://creativecommons.org/licenses/by-sa/4.0
The Influence of Korean Wave, E-WOM, and Brand Awareness on Purchase Interest of Korean Skincare Products Brand Innisfree Among Gen Z
The skincare industry in Indonesia is growing rapidly driven by Gen Z's interest in K-Beauty due to the influence of the Korean Wave, but Innisfree experienced a decline in sales after its 2024 rebranding due to intense competition. This study aims to analyze the influence of the Korean Wave, Electronic Word-of-Mouth (E-WOM), and Brand Awareness on the purchase interest of Innisfree skincare products among Gen Z in Mataram City. Using a causal associative quantitative approach, primary data were collected through an online Likert-scale questionnaire from 100 Gen Z respondents (aged 17-28) with purposive sampling, analyzed by SPSS multiple linear regression after testing validity, reliability, and classical assumptions. The results show that the Korean Wave (β = 0.249, p = 0.036) and E-WOM (β = 0.634, p = 0.000) have a positive and significant effect on purchase interest, while Brand Awareness (β = 5.650, p = 0.087) has a positive but insignificant effect; simultaneously explained 74.9% of the variation (Adj. R²=0.749). In conclusion, E-WOM was the most dominant, so Innisfree needs to prioritize digital reviews and cultural endorsements for market recovery
Copyright (c) 2026 Rohadatul Aisy, Akhmad Saufi https://creativecommons.org/licenses/by-sa/4.0
Strengthening Agricultural Credit Performance: The Moderating Role of Credit Collateral on the Relationship Between Working Capital Loans and Bad Loan Risk in Farmer Groups
Strengthening agricultural credit performance: the moderating role of credit collateral on the relationship between working capital loans and bad loans risk in farmer group. Purpose: This study explores how credit collateral moderates working capital loans to minimize bad loans risk among farmers. This study employes a quantitative research design using Smart PLS 4.1 as the analytical tool for inferential statistical testing. The reduced risk of non-performing loans is influenced by structured working capital system’s and significally using credit collateral. This study higlights farmer group with unstructured working capital credit schemes and seeks to reposition credit collateral as key in reducing default risk. Improving credit Effectiveness through the optimalization of credit collateral within the credit mechanism
Copyright (c) 2026 Antonius Yohanes William Timuneno, Maria Goreti Malut https://creativecommons.org/licenses/by-sa/4.0
Application of Critical Chain Project Management (CCPM) in Overcoming Resource Inefficiency in Multi-Project Management of Drinking Water Treatment System (SPAM) Development in The National Capital City (IKN)
The development of the Drinking Water Supply System (SPAM) in Indonesia’s new capital city (IKN) faces critical challenges of resource inefficiency in multi-project management. The main issues identified include fragmented planning and execution, weak cross-project coordination, manual information systems, and the absence of centralized command in resource allocation. This study aims to analyze the root causes of these inefficiencies and formulate solutions through the application of Critical Chain Project Management (CCPM) integrated with the Six Sigma DMAIC methodology. The research employed a mixed-method approach combining qualitative and quantitative analysis, including Pareto, Fishbone Diagram, Current Reality Tree (CRT), and the Theory of Constraints (TOC) Thinking Process. The Define and Measure phases identified planning fragmentation and poor coordination as dominant problems. The Analyze phase mapped root causes using CRT, while the Improve phase developed strategies based on the SWOT–TOWS framework, emphasizing the establishment of a digital-based Resource Control Center (RCC), implementation of CCPM buffer management, and digital transformation toward real-time project information systems. The Control phase ensured sustainability through buffer monitoring, periodic audits, and cross-project KPI dashboards. The results show that the CCPM–DMAIC integration enhances resource efficiency, minimizes idle time and delays, and promotes collaborative culture among stakeholders. The WO strategy proved most relevant, leveraging IKN’s development momentum and digitalization opportunities to address coordination weaknesses. Overall, CCPM–DMAIC provides an effective model for achieving efficiency, collaboration, and sustainability in national infrastructure projects.
Copyright (c) 2026 Habib Amrulloh, Kamalul Asfiyak, Rian Ramadhan, Ina Agustini Murwan https://creativecommons.org/licenses/by-sa/4.0
High-Performance Work Systems on Performance: The Mediating Roles of Engagement and Innovation in Construction Industry
This study examines the persistent underachievement of project employees’ KPIs at PT XYZ despite increasing organizational profitability by investigating the influence of High-Performance Work Systems (HPWS) on Employee Performance through Employee Engagement and Innovative Work Behavior within a Resource-Based View (RBV) framework. Using a quantitative explanatory and cross-sectional design, data were collected from 208 project-level managerial employees through a five-point Likert-scale questionnaire, exceeding the minimum sample requirement of 163 respondents. Structural Equation Modeling–Partial Least Squares (SEM-PLS) using SmartPLS 4 was employed to evaluate both measurement and structural models. The results reveal that HPWS does not directly affect employee performance but significantly enhances employee engagement and innovative work behavior. Both variables act as partial mediators, translating HPWS practices into improved performance outcomes. These findings suggest that HPWS initiatives should emphasize competency development and innovation-enabling mechanisms rather than administrative compliance. Consistent implementation across projects is essential to ensure effective KPI achievement. Future research should adopt longitudinal designs and incorporate contextual variables such as leadership support or psychological safety.
Copyright (c) 2026 Nuraeni Pou, Ignatius Rinda Laksana, Aditya Winahyo Eka Putra, Rano Kartono Rahim https://creativecommons.org/licenses/by-sa/4.0
The Passive Association Factor in Determining Transfer Pricing for Intra-Group Service Transactions: A Case Study of the Tax Court Decision on the Appeal Filed by PT SCI
This study explores the role of the passive association factor in determining transfer pricing for intra-group service transactions, focusing on the Tax Court’s decision in the PT SCI case. The research aims to clarify how passive association is treated under Indonesian regulations and its implications for the application of the arm’s length principle. Employing a qualitative descriptive case study approach, data were collected through in-depth interviews with tax authorities, practitioners, and academics, as well as document analysis of relevant regulations and court decisions. The population includes stakeholders in transfer pricing regulation and enforcement, with purposive sampling used to select key informants. Data were analyzed using coding, memoing, and thematic analysis to identify patterns and draw conclusions. The results show that passive association is often not eligible for remuneration, yet the lack of clear regulatory guidance leads to inconsistent interpretations and legal uncertainty. The study concludes that clearer criteria and practical guidelines are needed to distinguish passive from active association, ensuring fairer transfer pricing practices and dispute resolution in Indonesia.
Copyright (c) 2026 Krisna Herdiana, Zakky Ashidiqi https://creativecommons.org/licenses/by-sa/4.0
Determinants of Firm Value Based on Macro and Micro Dynamics: Inflation and Financial Performance as Moderating Variables
This study aims to analyze the influence of macroeconomic and microeconomic dynamics on firm value through a dual moderation model. Specifically, this study examines how macroeconomic variables (such as exchange rates and interest rates) affect firm value, with inflation as a moderating variable, and how microeconomic fundamental factors affect firm value, with financial performance as a moderating variable. Using a quantitative approach with the Structural Equation Modeling (SEM) method, this study integrates Signaling Theory and Arbitrage Pricing Theory to explain the phenomenon of capital market volatility. The analysis results indicate that inflation plays a crucial role in weakening the transmission of monetary stability to firm value, while solid financial performance has been shown to strengthen market appreciation of the issuer's intrinsic value. This study provides a theoretical contribution to the financial management literature regarding the interaction between systematic risk and firm-specific risk in determining shareholder value in emerging markets.
Copyright (c) 2026 Siti Aisyah, Johny Aninam, Mekar Meilisa Amalia, Neti Erlina, Novitasari https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Application of Accounting and Income Tax Provisions on Debt Write-Offs in the Homologation of Suspension of Debt Payment Obligations in Accordance with PSAK 109
This study investigates the application of accounting and income tax provisions on debt write-offs in the homologation of Suspension of Debt Payment Obligations (PKPU) in Indonesia, a phenomenon that has intensified since the Covid-19 pandemic. The research aims to analyze the implications of PSAK 109 and tax regulations on debt restructuring, providing practical guidance for companies. Employing a qualitative case study approach, data were collected through in-depth interviews with tax authorities, practitioners, and academics, as well as document analysis. The population includes all stakeholders in PKPU homologation, with purposive sampling focusing on those with direct experience in PSAK 109 implementation. Thematic coding was used for data analysis. The results show that only realized gains from debt reduction (haircut) are recognized as taxable income, while unrealized gains are not immediately taxed. The study concludes that clear regulatory guidelines are needed to minimize disputes and support compliance. The findings highlight the necessity for adaptive policies in post-pandemic debt restructuring.
Copyright (c) 2026 Zakky Ashidiqi https://creativecommons.org/licenses/by-sa/4.0
THE The Influence Of Customer Engagement On Brand Loyalty With Brand Attachment And Customer Trust As Intervening Variables: A Case Study At Starbucks Ijen, Malang City
This study aims to examine the influence of Customer Engagement on Brand Loyalty with Brand Attachment and Customer Trust as intervening variables in the context of Starbucks Ijen Malang. A quantitative descriptive and causal approach was employed, with data collected from 100 respondents using questionnaires and analyzed through SEM-PLS. The findings reveal that Customer Engagement has a strong and significant impact on Brand Loyalty, both directly and indirectly. Brand Attachment demonstrates the highest mediating effect, indicating that emotional bonds play a dominant role in fostering loyalty, while Customer Trust also significantly contributes as a mediator, although to a lesser extent. The results confirm that high engagement enhances both emotional attachment and trust, which in turn strengthen customer loyalty. The study contributes theoretically by enriching the understanding of the interrelationship between engagement, attachment, and trust in loyalty formation, and practically by providing insights for Starbucks to strengthen relationship marketing strategies. The research is limited to a single location with non-probability sampling, suggesting future studies should broaden scope, adopt mixed methods, and incorporate additional variables such as satisfaction or brand experience. Overall, this study highlights that sustainable Brand Loyalty in premium coffee shops can be achieved through active engagement, emotional attachment, and consistent trust.
Copyright (c) 2026 ahmed Alhamrouni, Siti Asiyah, Ridwan Basalamah https://creativecommons.org/licenses/by-sa/4.0
Building Customer Loyalty of TikTok Shop Gen Z Medan City Mediation Analysis of Product Quality Satisfaction
Purpose: This study aims to analyze the influence of product quality on the loyalty of TikTok Shop customers generation Z in Medan City, with customer satisfaction as a mediating variable. Methods: A quantitative approach was used with the Partial Least Square Structural Equation Modeling (PLS-SEM) analysis technique. The sample consisted of 75 respondents who had shopped at least three times through TikTok Shop. Result: Product quality has a significant effect on customer satisfaction (β = 0.757; p < 0.001). Product quality also has a direct and strong effect on customer loyalty (β = 0.837; p < 0.001). Customer satisfaction has a positive effect on loyalty (β = 0.182; p < 0.001) and acts as a partial mediator in the relationship between product quality and loyalty (β = 0.138; p < 0.001). Implications: These findings suggest that in order to build Gen Z customer loyalty, TikTok Shop business actors need to maintain product quality while creating a satisfying shopping experience. Theoretically, this research contributes to the testing of mediation in loyalty models, and practically, supports visual content-based marketing strategies in the digital age.
Copyright (c) 2026 ismail, Salisa Amini, Nurhudawi, Arifa Pratami, Irma Suryani Lubis, Muslim Marpaung https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Raw Material Inventory Control Using The Economic Order Quantity (EOQ) Method To Avoid Overstock In The Kotin Tempe Home Industry
This research examines how soybean raw material inventory is control at Kotin Tempe Home Industry by implementing the Economic Order Quantity (EOQ) approach to prevent excessive stockpiling and enhance cost effectiveness. Employing a quantitative descriptive methodology that includes observation and interviews, findings reveal that the current inventory management lacks proper structure, with 48 annual orders made without maintaining safety reserves or establishing reorder thresholds. When the EOQ approach is applied, optimal procurement amounts to 350 kg ordered 14 times annually, with safety reserves of 62 kg (2023) and 45 kg (2024), and reorder thresholds set at 89 kg and 72 kg respectively. This approach achieves a 65% reduction in inventory expenses, equivalent to Rp1,300,000 annually, demonstrating how EOQ effectively lowers costs and reduces overstock risks. This study is expected to be able to help this business determine the most appropriate amount of soybean raw material orders to achieve optimal profits.
Copyright (c) 2026 Chintia Novrianti, Isnaini Harahap, Saparuddin Siregar https://creativecommons.org/licenses/by-sa/4.0
The Effect of Market Orientation And Entrepreneurship Orientation on Marketing Performance Mediated By Marketing Capability (A Study of the Furniture Industry in Probolinggo Regency)
The purpose of this study is to examine the effect of market orientation and entrepreneurial orientation on marketing performance through marketing capability (a case study in the industry in Probolinggo Regency). This study uses a quantitative approach with primary data from 73 respondents collected using purposive sampling. The analysis tool used is SEM-PLS with SmartPLS software. The results show that market orientation and entrepreneurial orientation have a significant positive effect on marketing capability, but market orientation and entrepreneurship have no direct effect on marketing performance. Marketing capability has a significant positive effect on marketing performance. Furthermore, market orientation and entrepreneurial orientation through marketing capability have a significant positive effect on marketing performance. The results of this study indicate the importance of improving market orientation and entrepreneurial orientation to build marketing capability, while marketing capability can enhance marketing performance. Further research is expected to use broader variables such as product innovation, product quality, and price.
Copyright (c) 2026 Salman AL Farizy, Nur Hidayati, Siti Asiyah https://creativecommons.org/licenses/by-sa/4.0
Exploring Digital Storytelling Strategies through Live Streaming as an Inclusive Promotional Medium for Disability-Owned MSMEs
Digital transformation creates new opportunities for micro, small, and medium enterprises (MSMEs) to expand their market reach; however, it also presents challenges related to digital inclusion, particularly for businesses that serve persons with disabilities. This study aims to analyze the implementation of storytelling-based marketing through live streaming as an inclusive digital marketing strategy at Tiara Handycraft, a patchwork handicraft MSME that empowers persons with disabilities. Using a qualitative case study design, data were collected through in-depth interviews, observations of live-streaming activities, and social media documentation. The data were then analyzed using thematic analysis techniques. The research findings indicate that storytelling that emphasizes social narratives and sustainability values is a key driver of digital promotion, effectively fostering emotional engagement among consumers. Furthermore, live streaming serves as an interactive medium that enables the active participation of persons with disabilities in marketing activities, thereby strengthening digital inclusion and enhancing the social legitimacy of MSMEs. Integrating storytelling, live streaming, and social entrepreneurship values contributes to the development of an empathetic brand image oriented toward social impact. This research contributes theoretically by extending the body of knowledge on digital marketing and social entrepreneurship through the lens of digital inclusion. From a practical perspective, the findings provide a reference for social MSMEs in designing digital marketing strategies that prioritize not only economic gains but also empowerment and social values
Copyright (c) 2026 Lily Harlina Putri https://creativecommons.org/licenses/by-sa/4.0
The Effect of Digital Financial Literacy in Mediating Hedonic Values And Risk Perception on The Intention To Invest in Gold
Investing in gold can be a good choice for protecting wealth and diversifying portfolios. Although there are risks involved, many investors view gold as a stable and safe asset. Hedonic values are one factor influencing people's decisions to invest in gold during the recent period of economic uncertainty. Most people purchase gold based on their desires rather than their needs. The influence of risk perception on gold investment is an important aspect that investors need to understand. Although gold is often considered a safe asset, this investment still has various risks that can affect the value and returns of the investment in the long term. Digital literacy is one of the factors required by a person in carrying out investment activities. By accessing information using digital literacy, individuals can learn about current events and predict potential risks. Improving digital literacy can contribute positively to investing, especially gold investment.
Copyright (c) 2026 Eka Nurkusuma Priaswidya, Nurhidayah, Harun Al Rasyid https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Electronic Word Of Mouth And Company Image On Customer Loyalty To Indonesian Sharia Banks With Satisfaction As An Intervening Variable
This study analyzes the effect of Electronic Word of Mouth (EWOM) and Company Image on Customer Loyalty, with Customer Satisfaction as an intervening variable at Bank Syariah Indonesia (BSI) KCP Batu Diponegoro. The background of this study is the importance of customer loyalty amid digital banking competition. This quantitative study uses an explanatory design with 150 BSI customer respondents, selected through accidental sampling. The data were analyzed using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS) with SmartPLS 4.0. The results show that EWOM and Corporate Image have a positive and significant effect on Customer Satisfaction and Loyalty. Customer Satisfaction also has a significant effect on Customer Loyalty. The most important finding is that Customer Satisfaction significantly mediates the relationship between EWOM and Corporate Image on Customer Loyalty. It is concluded that EWOM and Corporate Image are drivers of loyalty, but their impact is significantly strengthened when both factors are successfully converted into a satisfying customer experience. Banks are advised to actively manage their digital reputation and improve service quality to ensure satisfaction
Copyright (c) 2026 Samapta Rahma Aji, Nurhidayah, Harun Al Rasyid https://creativecommons.org/licenses/by-sa/4.0
Lifestyle and Financial Literacy: Determining Factors of Consumptive Behaviour Among Students Receiving KIP Scholarships in the Management Study Programme at UKI Toraja
Consumptive behaviour is a tendency for individuals to purchase or consume goods and services excessively, without considering their actual needs, and often influenced by emotional, social, or trend factors. This study aims to analyse the influence of lifestyle and financial literacy on the consumptive behaviour of students receiving KIP scholarships in the management study programme at UKI Toraja. Sixty-five respondents were selected using proportional random sampling, consisting of four cohorts from 2021 to 2024. Hypothesis testing was conducted using Multiple Regression Analysis with the Statistical Package for the Social Sciences (SPSS) version 26 software tool. The results showed that, partially, lifestyle had a positive and significant effect on consumptive behaviour, while financial literacy had a negative and significant effect on consumptive behaviour. Simultaneously, lifestyle and financial literacy influenced consumptive behaviour. The coefficient of determination R-squared value of 0.524 indicates that the variable of consumptive behaviour of KIP scholarship recipients in the UKI Toraja management study programme is determined by lifestyle and financial literacy by 52.4%, while the remaining 47.6% is determined by factors other than the independent variables in this study.
Copyright (c) 2026 Dwibin Kannapadang, Yohanis Lotong Ta’dung https://creativecommons.org/licenses/by-sa/4.0
The Role of Service Quality in E-Commerce Customer Satisfaction and Loyalty
This study examines the influence of service quality on customer satisfaction and customer loyalty among Millennial and Gen Z users of e-commerce platforms in Indonesia. Using a quantitative explanatory approach, data were collected from 200 respondents who actively shopped online through major platforms such as Shopee, Tokopedia, Lazada, Blibli, and TikTok Shop. Service quality was measured using four e-servqual dimensions: efficiency, fulfillment, system availability, and privacy. Data were analyzed using PLS-SEM through SmartPLS to evaluate the measurement and structural models. The findings reveal that efficiency and fulfillment significantly increase customer satisfaction, while fulfillment and privacy significantly influence customer loyalty. Meanwhile, system availability shows no significant effect on either satisfaction or loyalty, indicating that users perceive it as a basic feature rather than a determinant of experience. The results also demonstrate that customer satisfaction strongly predicts customer loyalty, emphasizing its mediating role in the relationship between service quality and loyalty. Overall, the study highlights the importance of efficient service, accurate fulfillment, and strong privacy protection in retaining e-commerce users from younger generations.
Copyright (c) 2026 Putri Izatin Nabila, Siti Rahayu, Fitri Novika Widjaja https://creativecommons.org/licenses/by-sa/4.0
Legal Protection for Unilateral Layoffs of Additional Workers at Teluk Nibung Port Following the Enactment of Government Regulation No. 35 of 2021 from a Maqashid Sharia Perspective
Additional Workers (TKT) at Teluk Nibung Port in Tanjung Balai City are vulnerable subjects in industrial relations in Indonesia. This study aims to analyze the legal protection for TKT who experienced unilateral termination of employment (PHK) by the port in 2023, after working since 1996, without compensation. Legally, the status of workers who worked for years with verbal agreements and the continuous nature of the work indicates an indefinite-term employment relationship (PKWTT), regardless of the formal designation "Additional." Although the Government has issued Government Regulation Number 35 of 2021 as a derivative of the Omnibus Law of the Job Creation Law, the regulation still causes ambiguity, especially regarding the status of workers who are not formally registered and the mechanism for unilateral layoffs that violate procedures. From the perspective of Maqashid sharia, protection for TKT is crucial in order to achieve the benefit (welfare) which is the main objective of sharia, especially in maintaining the soul (hifzh an-nafs) through fulfilling the right to livelihood (hifzh al-mal). Layoffs without proper compensation have the potential to threaten the maqashid and are a form of injustice that must be resolved through industrial relations legal channels.
Copyright (c) 2026 Silvia Arma, Muhammad Ramadhan https://creativecommons.org/licenses/by-sa/4.0
The Influence of Appraised Value, Costs, and Services on Customer Decisions to Use Sharia Gold Pawn Financing Services (Case Study at Bank Syariah Indonesia KCP Medan Sukaramai)
This research aims to determine whether the estimated value, costs, and services affect the decision of customers to use Islamic gold pawn financing services at Bank Syariah Indonesia KCP Medan Sukaramai. The research method used in this study is quantitative research. The results of this study indicate that the estimated value, costs, and services simultaneously have no effect on customer decisions. With a coefficient of determination of 0.117 or 11.7%. The results of partial testing of variable X1 show that the estimated value has no positive effect on the decision of Islamic gold pawn customers at BSI KCP Medan Sukaramai, variable X2 shows that costs have no positive effect on the decision of Islamic gold pawn customers at BSI KCP Medan Sukaramai, and variable X3 shows that service has no positive effect on the decision of Islamic gold pawn customers at BSI KCP Medan Sukaramai.
Copyright (c) 2026 Irgi Iqbal, Tri Inda Fadhila Rahma, Nusantri Yanti https://creativecommons.org/licenses/by-sa/4.0
Implementation Of Government Procurement Of Goods And Services Through E-Catalogue In Micro, Small And Medium Enterprises (Msmes) In South Sumatera Province
This article aims to realize good governance through e-Catalogues in micro, small, and medium enterprises (MSMEs) in South Sumatra Province. The problem focuses on how the procurement of goods and services is carried out through e-catalogues in MSMEs in South Sumatra. To address this issue, the theoretical framework of the Principles of Government Procurement of Goods and Services by Willem (2012:11-12) is utilized, which states that in good procurement of goods and services, the principles of effectiveness, efficiency, competitiveness, transparency, and accountability must be applied from the planning stage onwards. Data was collected through observation, interviews, and documentation from SMEs in South Sumatra Province and the Electronic Procurement Service (LPSE) of South Sumatra, which manages the e-catalogue in South Sumatra, and analyzed qualitatively. This study concludes that the implementation of government procurement of goods and services through the e-catalogue for micro, small, and medium enterprises (MSMEs) in South Sumatra Province is not yet optimal because it does not meet several procurement principles, namely effectiveness, efficiency, and transparency. It is hoped that in the future, the e-catalogue can be improved and continue to support the development of MSMEs.
Copyright (c) 2026 M. Nur Alfalla, Raniasa Putra, Muhammad Nur Budiyanto https://creativecommons.org/licenses/by-sa/4.0
The Effect of Facilities and Infrastructure Management and Learning Facility Completeness on Student Loyalty with Student Satisfaction as a Mediating Variable.
The abstract contains a brief description of the Purpose: This study investigates the effect of facilities and infrastructure management and the completeness of learning facilities on student loyalty, with student satisfaction as a mediating variable based on Expectation Disconfirmation Theory. Methods: A quantitative explanatory survey was conducted involving 80 students of a private junior high school in Samarinda, Indonesia, selected through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. Results: The findings show that facilities and infrastructure management and learning facilities significantly influence student satisfaction, while student satisfaction has a strong effect on student loyalty. The direct effects of facilities and learning facilities on loyalty are not significant, indicating that student satisfaction fully mediates these relationships. Implications: The study highlights that student loyalty is formed through satisfaction rather than direct facility provision, suggesting that schools should focus on improving students’ perceived satisfaction through effective facility management and utilization.
Copyright (c) 2026 Ocvan Pandu Kurniawan, Daniel Kurniawan, Eric Harianto https://creativecommons.org/licenses/by-sa/4.0
The Effect of Corporate Health Accounting Disclosure and Profitability on Firm Value with Governance as a Moderating Variable: A Quantitative Study of Healthcare Companies in Indonesia
Mental health awareness has risen as a strategic priority in the Indonesian healthcare sector post-COVID-19 pandemic, yet Corporate Health Accounting (CHA) disclosure remains minimal despite its potential to reduce employee burnout costs. This study examines the effect of CHA disclosure and profitability (ROE) on firm value (Tobin's Q), with governance as a moderating variable, in healthcare companies listed on the Indonesia Stock Exchange (IDX). Using a quantitative descriptive-verification approach with panel data regression (Eviews v14), purposive sampling yielded 14 companies (70 observations) from a population of 35 healthcare issuers listed on the IDX (2019-2023). Instruments included the GRI 403-based CHA index (scale 0-6), the OJK governance score (0-5), the ROE formula, and Tobin's Q. The results show that CHA has no significant direct (p=0.7160) or moderated (p=0.4816) effect on firm value, while profitability has a significant positive effect (p=0.00295). The conclusion emphasizes the market's preference for financial metrics over premature social disclosures, recommending improvements in the quality of CHAs and ESG regulatory mandates for long-term value creation.
Copyright (c) 2026 Reinhard Stefanus, Harry Suharman, Syaiful Rahman Soenaria https://creativecommons.org/licenses/by-sa/4.0
Analysis of Micro Financing Product Development at BSI KCP Stabat
This study aims to analyze first, BSI's microfinance products, second, the obstacles and challenges of marketing BSI's microfinance products, and third, the strategy and process of developing BSI microfinance products. The research method used is a qualitative descriptive approach with data collection through observation, interviews, documentation and surveys to customers and related parties of one of BSI's branch offices. The results of the study show that BSI's microfinance products, such as KUR Super Micro, KUR Micro, and non-KUR products, are designed according to sharia principles with an easy application process and supported by service digitization. This product has a significant positive impact on increasing capital, production capacity, income, and welfare of MSME actors. However, product development still faces obstacles such as low Islamic financial literacy, complex administrative requirements, high micro business risks, and limited access in remote areas. The market opportunity for sharia microfinance is very large considering the large MSME segment and the support of government regulations. Therefore, effective development strategies include product innovation, increasing financial literacy, using digital technology, strengthening partnerships, and improving human resource competence
Copyright (c) 2026 Ahmad Firdaus Lingga, Sugianto, Tuti Anggraini https://creativecommons.org/licenses/by-sa/4.0
Criminal Responsibility of Influencers for Illegal Crypto Pump and Dump Schemes Under Indonesian Law
This study aims to analyze the criminal liability of influencers in illegal crypto asset pump-and-dump schemes following the transition of oversight to the Financial Services Authority (OJK). Using a normative judicial method, it evaluates the synchronization between the EIT Law, the National Penal Code (Law No. 1/2023), and the P2SK Law. The results indicate that influencers can be held criminally liable under Article 28, paragraph (1) of the EIT Law for disseminating misleading information that causes material loss. Simultaneously, they may be prosecuted under Article 492 of the National Penal Code for fraud. The legal standing of influencers is constructed as "joint perpetrators" (medepleger) or "solicitors" (uitlokker) under Article 20 of the National Penal Code, given their dominant role in mobilizing the public through digital information manipulation. The use of disclaimers does not eliminate mens rea if criminal intent and profit from others' losses are proven. Integrative law enforcement is essential to protect consumers and the integrity of Indonesia's digital financial market
Copyright (c) 2026 Yehezkiel Marbun, Rospita A Siregar https://creativecommons.org/licenses/by-sa/4.0
The Use of Zakat Funds to Support the Government's Stunting Eradication Program from a Maslahah Mursalah Perspective
Stunting remains a serious problem in Indonesia because its prevalence has not yet reached the reduction target as stipulated in Presidential Regulation Number 72 of 2021. Zakat funds can be positioned as a complementary funding source to strengthen state intervention in stunting prevention. This study aims to analyze the use of zakat funds to support the government's stunting reduction program from a maslahah mursalah perspective. This study uses a normative juridical method with a statute approach and a conceptual approach. Data sourced from secondary data obtained through document studies include primary legal materials in the form of laws, as well as secondary legal materials in the form of law books, legal journals, and opinions of legal experts relevant to this study. The data were processed qualitatively and analyzed using deductive reasoning. The results of the study indicate that the use of zakat funds can support the government's stunting reduction program, particularly through the utilization of consumptive and productive zakat distributed to poor and needy Muslim families. The use of zakat funds for stunting reduction in Indonesia is currently not evenly distributed across all cities and districts. Based on the perspective of maslahah mursalah, the use of zakat funds for stunting reduction programs is permissible and highly relevant because it provides public benefit and is beneficial in preserving the soul (hifz al-nafs) and offspring (hifz al-nasl) without conflicting with sharia provisions. Therefore, strengthening regulations and cross-sectoral coordination is needed so that the use of zakat funds to support accelerated stunting reduction can be implemented in a more targeted, integrated, and sustainable manner.
Copyright (c) 2026 Fitrah Humairah, Syafruddin Syam https://creativecommons.org/licenses/by-sa/4.0