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
Determinants of Financial Management Behavior: Financial Literacy, E-wallet Use, and Lifestyle
This study examines the influence of financial literacy, e-wallet usage, and lifestyle on financial management among undergraduate students of Management Program at Dian Nuswantoro University, based on the knowledge-behavior gap among Gen Z who actively use fintech but have low savings practices. The objective of the study is to analyze the causal relationship between these three variables using a quantitative explanatory approach with the PLS-SEM method. The population includes 1,617 active students in semesters 3-7 who have taken financial management courses and e-wallet users, with a sample of 178 respondents through purposive sampling. The instrument in the form of a Likert 1-5 questionnaire (15 indicators) was analyzed with SmartPLS 4 through validity tests (loading factor >0.7, AVE >0.5), reliability (CR >0.7), and bootstrapping hypothesis of 5000 subsamples. The results showed a significant positive influence on: financial literacy (β=0.377, p=0.000), lifestyle (β=0.286, p=0.006), e-wallet (β=0.204, p=0.010), with R²=0.584. The conclusion recommends the integration of e-wallet literacy into the curriculum to improve students' financial discipline.
Copyright (c) 2026 Ika Rahma Aulia, Almira Santi Samasta, Diana Puspitasari, Suhita Whini Setyahuni https://creativecommons.org/licenses/by-sa/4.0
The Influence of Health Consciousness, Social Media Marketing, and Electronic Word-of-Mouth (eWOM) on Purchase Intention through Attitude towards Stevia Natural Sweetener Products
The increasing prevalence of metabolic diseases and the imbalance between sugar production and consumption in Indonesia have intensified interest in alternative sweeteners such as Stevia. This study aims to examine the effects of health consciousness, social media marketing, and electronic word-of-mouth (eWOM) on consumers’ purchase intention toward Stevia products, with attitude serving as a mediating variable. A quantitative survey was conducted among 250 urban consumers in Jakarta who were familiar with Stevia and actively used social media. Data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. The results indicate that health consciousness, social media marketing, and eWOM significantly influence consumer attitudes and purchase intention, both directly and indirectly. Attitude emerges as the strongest predictor of purchase intention and acts as a significant partial mediator in all examined relationships. The model demonstrates moderate explanatory and predictive power, confirming its robustness. These findings support the Theory of Planned Behavior within the functional food context and highlight that consumer purchase intention toward Stevia is primarily shaped through positive attitudinal formation rather than direct promotional exposure alone. The study implies that effective marketing strategies for alternative sweeteners should prioritize health-oriented education, credible social media engagement, and authentic peer communication to strengthen consumer attitudes, thereby supporting public health objectives and national food security.
Copyright (c) 2026 Erika shofia, Sisno Riyoko, Mohamad Rifqy Roosdhani https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Potential of Regional Taxes and Levies in Increasing Regional Original Income in South Buru Regency
Locally Generated Revenue (PAD) is a crucial indicator for assessing a region's level of fiscal independence, particularly in the era of fiscal decentralization. As a newly autonomous region, South Buru Regency still faces the challenge of low contributions of local taxes and levies to total PAD, resulting in a relatively high dependence on central government transfers. This situation demands a comprehensive empirical analysis to identify the potential of local taxes and levies to sustainably increase PAD. This study aims to analyze the influence of regional tax capacity on local revenue (PAD) in South Buru Regency by considering the role of other economic and fiscal factors, namely Gross Regional Domestic Product (GRDP), capital expenditure, and General Allocation Fund (DAU). The analytical method used is a time series econometric approach using the Error Correction Model (ECM), which begins with a stationarity test, the Johansen cointegration test, and estimation of short-term and long-term relationships. The data used is secondary data for the period 2015–2024. The results show that all variables are integrated at the same order and exhibit a cointegration relationship, indicating a long-term equilibrium between PAD and its explanatory variables. In the short term, tax capacity and capital expenditure have a positive and significant effect on PAD, while GRDP and DAU have not shown a significant influence. In the long term, tax capacity remains the main determinant of PAD growth, while DAU tends to have a negative impact on regional fiscal independence. These findings confirm that optimizing the potential of regional taxes and levies is a key strategy in strengthening PAD in South Buru Regency.
Copyright (c) 2026 Muamar F. Marasabessy, Amaluddin, Jeanee B. Nikijuluw https://creativecommons.org/licenses/by-sa/4.0
The Influence of Accountability and Transparency on the Quality of Financial Reports with the Internal Control System as a Moderating Variable (Empirical Study at the Buru Regency KPU)
This study aims to analyze the influence of accountability and transparency on the quality of financial reports with the internal control system as a moderating variable at the General Election Commission (KPU) of Buru Regency. This type of research is quantitative research with primary data sources obtained through the distribution of questionnaires to all 40 employees of the KPU of Buru Regency. The sampling technique used total sampling. The data analysis method used Partial Least Square (PLS) with the help of SmartPLS. The results show that accountability and transparency have a positive and significant effect on the quality of financial reports. However, the internal control system does not moderate the influence of accountability or transparency on the quality of financial reports.
Copyright (c) 2026 Tiara Dwi Cahyani Yunus, Jefry Gasperz, Dwi Haryanti https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Village Fund Management In Realizing Good Governace (Study In Pelauw Village In Pulau Haruku District)
This study aims to analyze the management of Village Funds in realizing good governance in Pelauw Village, Pulau Haruku District. This study uses a qualitative method with a case study approach. Data were collected through in-depth interviews, observation, and documentation, with key informants including the Village Head, Village Secretary, Village Treasurer, Village Consultative Body (BPD), and community leaders. Data analysis was conducted using interactive analysis techniques by Miles, Huberman, and Saldana, which include data reduction, data presentation, and conclusion drawing. The results show that the management of Village Funds in Pelauw Village does not fully reflect the principles of good governance. Transparency of financial information is still limited, accountability for budget realization reports is not consistent with regulations, and community participation in village deliberations is often merely a formality. The main obstacles faced include limited capacity of village officials, lack of utilization of information technology such as the SISKEUDES application, and weak community oversight mechanisms. This study concludes that to realize transparent, accountable, and participatory management of Village Funds, it is necessary to strengthen the human resource capacity of village officials, provide supporting information technology facilities, and increase public awareness of their important role in planning and monitoring village development
Copyright (c) 2026 Rasyid Latuconsina, Paul Usmany, Salomi Jacomina Hehanussa https://creativecommons.org/licenses/by-sa/4.0
The Influence of Human Resource Competence and Good Governance on Financial Management Performance with the Internal Control System as a Moderating Variable (Empirical Study on Regional Apparatus Organizations in Ambon City Government)
This study was conducted with the aim of providing empirical evidence regarding the influence of human resource competency and good governance on financial management performance with the internal control system as a moderating variable in OPDs in the Ambon City Government. The sampling method used in this study was the Non-Probability Sampling method with Purposive Sampling technique. The population used in this study were OPD employees in the Ambon City Government. A total of 159 questionnaires were distributed to respondents who met the criteria and could be used as samples in the study.
Copyright (c) 2026 Resty Hairunnisya Pulu Hattumena, Christina Sososutiksno, Kevin Hermanto Tupamahu https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Employee Relations And Compensation On Turnover Intention: The Mediating Role Of Work Stress Among Pt. Bank Mandiri Employees In Mataram City
This study examines the influence of employee relations and compensation on turnover intention, with work stress as a mediating variable among 67 employees of PT. Bank Mandiri in Mataram City, addressing retention challenges in Indonesia's banking sector where turnover rates exceed national averages. Employing a quantitative causal-associative design, data were collected through validated questionnaires and analyzed using Structural Equation Modeling with Partial Least Squares (SEM-PLS). The findings reveal that employee relations exert a strong negative effect on turnover intention (β = −0.624, p < 0.05), while compensation demonstrates a strong positive effect on work stress (β = 0.857, p < 0.05) but no significant direct impact on turnover intention (β = 0.150, p > 0.05). Notably, work stress neither significantly affects turnover intention (β = −0.092, p > 0.05) nor mediates the relationships between employee relations and turnover intention or compensation and turnover intention. The model explains 75.4% of work stress variance but only 40.8% of turnover intention variance. These results underscore that high-quality workplace relationships serve as the primary retention driver, suggesting organizations should prioritize enhancing supervisor communication, peer collaboration, and conducive work climates over salary adjustments alone. Theoretically, this research extends Social Exchange Theory within Indonesian banking contexts while revealing limitations of stress-based pathways in explaining turnover. Practically, findings emphasize leadership development and mentoring initiatives as cost-effective retention strategies. Future research should employ longitudinal designs and incorporate additional mediators to explain the remaining variance in turnover intention.
Copyright (c) 2026 Ulaya Fitriani, Muttaqillah https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Customer Relationship Management And Location On Purchase Intention At Caffe Kokoday East Lombok
This study examines the influence of Customer Relationship Management (CRM) and location on purchase intention at Caffe Kokoday, East Lombok. Amidst the growth of Indonesia's food and beverage sector, the research tests whether CRM practices and strategic location significantly affect consumer purchase intention in the café industry.This descriptive quantitative study employed purposive sampling of 100 respondents who had visited Caffe Kokoday. Data were collected through structured questionnaires measuring CRM (acquire, enhance, retain), location (accessibility, visibility, traffic, parking, environment), and purchase intention (transactional, referential, preferential, exploratory interest). Multiple linear regression analysis was conducted using SPSS, preceded by classical assumption tests.The findings reveal that both CRM and location significantly influence purchase intention. The regression equation Y = -1.715 + 0.675X₁ + 0.435X₂ demonstrates that CRM (t = 4.761, Sig. 0.000 < 0.05) and location (t = 5.561, Sig. 0.000 < 0.05) have positive and significant effects. The coefficient of determination (R² = 0.820) indicates that 82% of purchase intention variance can be explained by these variables, while 18% is attributed to other factors. CRM scored highest on staff service responsiveness (mean = 4.41), while location scored highest on parking accessibility and environmental safety (mean = 4.35).The study confirms that effective CRM and strategic location are critical determinants of consumer purchase intention in cafés. Practitioners should prioritize relationship-building initiatives and accessible locations with adequate facilities. These findings support relationship marketing theory and retail location theory in the food service context. Future research should explore additional variables such as product quality and digital marketing to provide comprehensive understanding of purchase intention drivers.
Copyright (c) 2026 Ulaya Fitriani, Akhmad Saufi https://creativecommons.org/licenses/by-sa/4.0
BKM's Accountability Regarding Mosque Caretaker Wages That Do Not Conform to the Agreement: Imam Syafi'i's Perspective (Case Study of the Muslimin Mandala Mosque)
This study examines the accountability of the Mosque Prosperity Agency (BKM) of the Muslimin Mandala Mosque regarding the payment of wages to caretakers, which does not comply with the principles of transparency and justice in Islam. The problem arose following a change in mosque management in 2023, resulting in cuts or even complete omissions for no apparent reason. This study aims to analyze the BKM's wages and assess their appropriateness based on the perspective of Imam Shafi'i's jurisprudence.This study uses the field research method to directly explore the practice of managing mosque caretaker wages by the Mosque Prosperity Agency (BKM) at the Muslimin Mandala Mosque.The researcher used a living case study and statute approach. Data were obtained through direct interviews with caretakers, mosque administrators, and community leaders, as well as a review of mosque administrative documents. The findings indicate that there is no clear administrative system for providing wages to caretakers. Wages are given incidentally without any written agreement or certainty of the amount and time, and depend on the voluntary initiative of the administrators and congregation. According to Imam Shafi'i's fiqh (Islamic jurisprudence), this contradicts the principle of ijarah, which states that every work that produces benefits is entitled to fair and clear wages. The hadith of the Prophet Muhammad SAW recommends paying wages before the worker's sweat dries. Therefore, the BKM should develop a written wage system, establish work contracts, schedule regular payments, and implement transparent financial reporting. This study recommends the need to improve the mosque's financial management system to comply with sharia principles, maintain trust, and improve the welfare of caretakers as an important part of the mosque's continued function
Copyright (c) 2026 Erwin, Ahmad Zuhri https://creativecommons.org/licenses/by-sa/4.0
Implementation of the Price Management Information System (SIMAHAR) Application in Proposing Standard Prices for Goods and Services at the Regional Finance and Asset Agency of West Kutai Regency
The development of information technology in the era of globalization has encouraged local governments to undertake digital transformation in financial management to improve efficiency, transparency, and accountability. This study aims to analyze the implementation of the Price Management Information System (SIMAHAR) application in the process of proposing standard prices for goods and services at the Regional Finance and Asset Agency (BKAD) of West Kutai Regency. The study focuses on implementation steps and strategies, the roles of the actors involved, implementation results, and factors hindering SIMAHAR implementation. This research used a qualitative method with a descriptive approach. Data were obtained through structured interviews with officials and staff of the BKAD of West Kutai Regency, as well as representatives from several relevant Regional Work Units (SKPD). Data analysis was conducted systematically to understand the dynamics of implementation and factors influencing the effectiveness of SIMAHAR implementation. The results show that the implementation of SIMAHAR has had a positive impact in accelerating the price standard proposal process, improving data accuracy, and minimizing the potential for price manipulation. Previously, the proposal process was carried out manually using physical documents, which was time-consuming and prone to errors. Through SIMAHAR, proposals become more effective, transparent, and accountable because they are equipped with comparative documents and price links that can verify accuracy. SIMAHAR implementation involves the crucial roles of the Regional Government Agency (BKAD) as the system manager, Regional Government Agencies (SKPD) as data inputters, and internal auditors as accountability monitors. However, several obstacles remain, including limited communication between SKPDs, lack of training, unstable internet connections, and user resistance to technological change. Overall, SIMAHAR makes a significant contribution to supporting the principles of good governance in regional financial management. This study recommends strengthening technological infrastructure, increasing human resource capacity, and optimizing coordination between SKPDs to achieve more optimal implementation.
Copyright (c) 2026 Aina Khilya Isna Shofia, M. Mas'ud Said, Rulam Ahmadi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Life Skills Education, Islamic Work Ethic and Creative Economy on the Welfare of Muslim Home Industry Business Actors in Medan City
This study aims to analyze the influence of life skills education, Islamic work ethic, and the creative economy on the welfare of Muslim home industry entrepreneurs in Medan City. The problem raised is how these three factors affect the welfare of entrepreneurs in facing business challenges. The method used is a quantitative method with data collection through questionnaires distributed to 100 respondents. Data were analyzed using multiple linear regression to test the influence of each variable. The results show that life skills education, Islamic work ethic, and the creative economy have a significant positive effect on the welfare of entrepreneurs. Life skills education helps entrepreneurs in managing their businesses better, Islamic work ethic builds the values ​​of honesty and responsibility in business, while the creative economy increases competitiveness through innovation. The combination of life skills education, Islamic work ethic, and the creative economy is very important to improve the welfare of Muslim home industry entrepreneurs. These three factors, when implemented in an integrated manner, can create a stronger and more sustainable business ecosystem.
Copyright (c) 2026 Maulana Muhammad Hamzah, Nurbaiti, Rahmi Syahriza https://creativecommons.org/licenses/by-sa/4.0
The Influence of Service Differentiation and Customer Trust on Customer Loyalty with Digital Marketing as an Intervening Variable at PT. Anugerah Berkah Indonesia
This study aims to examine the effect of service differentiation and customer trust on customer loyalty, with digital marketing as an intervening variable at PT. Anugerah Berkah Indonesia. This research adopts a quantitative approach using a survey method, where data were collected through questionnaires distributed to customers of PT. Anugerah Berkah Indonesia. Data analysis was conducted using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with the assistance of SmartPLS 4 software. The results indicate that service differentiation and customer trust have a positive and significant effect on customer loyalty. In addition, service differentiation and customer trust also have a positive and significant influence on digital marketing. However, digital marketing does not have a significant effect on customer loyalty. These findings suggest that customer loyalty is more strongly driven by core factors such as service uniqueness and customer trust rather than direct digital marketing activities. In this study, digital marketing functions as a supporting communication tool but has not yet become a primary determinant in shaping customer loyalty. The findings imply that companies should prioritize strengthening service differentiation and customer trust as key strategies to enhance customer loyalty, while integrating digital marketing as a complementary tool to reinforce value communication and customer engagement effectively.
Copyright (c) 2026 Siti Ulfah, Hadiah Fitriyah https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Effectiveness of Procurement of Goods and Services and its Impact on Non-Tax State Revenue in Central Maluku Regency
Government procurement of goods and services is a crucial instrument in supporting development effectiveness and improving the quality of public services, and is also linked to regional financial performance, including Non-Tax State Revenue (PNBP). However, in practice, procurement implementation still faces various obstacles that have the potential to reduce its effectiveness and the resulting economic benefits. This study aims to analyze the effectiveness of government procurement of goods and services and its impact on PNBP management in Central Maluku Regency. This study employed a mixed-methods approach with an explanatory sequential design. Quantitative data were obtained through questionnaires from 75 respondents, consisting of procurement officials, financial managers, internal supervisors, service providers, and service users. Data were analyzed using Likert-based descriptive statistics. Qualitative data were collected through in-depth interviews and documentation studies to strengthen the quantitative analysis. The variables analyzed included the procurement process, human resource quality, transparency and accountability, the use of information technology, and the effectiveness of non-tax state revenue (PNBP) management. The research results indicate that the effectiveness of goods and services procurement in Central Maluku Regency is generally considered quite good. The procurement process, human resource quality, and transparency and accountability play a positive role in supporting the effectiveness of PNBP management. However, challenges remain in terms of timeliness, technical capacity of the apparatus, and the quality of procurement results, which impact PNBP optimization and public satisfaction. These findings demonstrate the need to strengthen procurement governance to improve the quality of public services and regional financial performance
Copyright (c) 2026 Sri Djamilah, Erly Leiwakabessy, Maryam Sangadji https://creativecommons.org/licenses/by-sa/4.0
Effectiveness of Regional Policies in Reducing Stunting in South Buru Regency
Stunting is a human resource development issue that remains a serious challenge in various regions, including South Buru Regency. This study aims to analyze the effectiveness of regional policies in reducing stunting prevalence in South Buru Regency by examining the regional context, demographics, and socioeconomic conditions, as well as policy implementation. This study uses a descriptive qualitative approach. Data were obtained through secondary data sourced from official publications of the Central Statistics Agency, in addition to local government reports, policy documents, and reports from related agencies in the health and social development sectors. and primary data from interviews. Data analysis techniques were carried out through descriptive and interpretative analysis by examining the relationship between policies, health indicator achievements, and regional structural conditions. The study results show that despite improvements in several development indicators, such as the Human Development Index and regional economic growth, stunting prevalence in South Buru Regency remains influenced by various structural factors. Geographical factors, limited access to maternal and child health services, high poverty rates, and an economic structure dominated by the primary sector are key obstacles to achieving optimal policy outcomes. Furthermore, the implementation of stunting reduction policies has not been fully effective and equitable across regions and has not fully reached the most vulnerable groups. This study concludes that the effectiveness of stunting reduction policies in South Buru Regency remains partial and requires strengthening cross-sectoral coordination, equitable distribution of basic services, and policy adjustments to the characteristics of the island region. Therefore, more integrated, sustainable, and locally based policies are needed to support accelerated stunting reduction and improve the quality of human resources in South Buru Regency
Copyright (c) 2026 Nuraida Masbait, Maryam Sangadji, Dientje Rumerung https://creativecommons.org/licenses/by-sa/4.0
The Role of Perceived Value and Social Influence in Roblox Avatar Clothing Purchase Decisions Among Generation Z Roblox Players in Cirebon City
In the metaverse era, Roblox allows Gen Z to express their identity through virtual avatar clothing, with perceived value and social influence as the main drivers of purchase, although local research is still minimal. This study aims to examine the influence of both variables partially and simultaneously on the purchasing decisions of Roblox avatar clothing among Gen Z in Cirebon City. This type of quantitative, explanatory, causal research uses a 5-point Likert questionnaire on the Gen Z population (13-28 years old) active Roblox users who have purchased avatars; a sample of 201 respondents via purposive sampling (Lemeshow-Cochran formula). The instrument was validated (Pearson r>0.30) and reliable (Cronbach's α>0.70); analysis via SPSS includes descriptive, classical tests, and multiple linear regression. The results show that perceived value has a significant positive effect (β=0.719, t=13.667, p=0.000) and dominant, social influence is also significant (β=0.079, t=1.974, p=0.050); Simultaneous F=129.834 (p=0.000), R²=0.567. Conclusion: Both variables drive purchasing decisions, with perceived value being the most influential; implications for Roblox's marketing strategy.
Copyright (c) 2026 Pipit Pitria, Muhammad Santoso, Keke Shabrina Nurmalitasari https://creativecommons.org/licenses/by-sa/4.0
Renewable Energy and Maluku's Natural Resources Strategies for Utilizing Local Potential for a Sustainable Future
This study examines the utilization of renewable energy in Maluku Province, emphasizing an integrative approach based on local potential. Maluku, as an archipelagic region, has diverse energy potential, including solar, geothermal, microhydro, wind, and biomass. However, the utilization rate of new and renewable energy (EBT) remains low due to infrastructure, regulatory, social capacity, and economic constraints. This study uses a qualitative descriptive method supported by data from interviews and secondary quantitative data from BPS, PLN, and the Ministry of Energy and Mineral Resources. The analysis was conducted through spatial-sectoral mapping, evaluation of actual obstacles, and formulation of SWOT-based strategies. The results show that almost all regencies/cities in Maluku have significant EBT potential, with suitable utilization in the household, fisheries, agriculture, and public service sectors. The main obstacles include limited interconnection networks, unsupportive investment regulations, low community technical capacity, and small market scale. The proposed strategy emphasizes community-based renewable energy development, integration with natural resource conservation, local community empowerment, and multi-stakeholder collaboration. This study emphasizes the importance of a just energy transition that is contextual to the characteristics of the archipelago.
Copyright (c) 2026 Maryam Sangadji, Diah Wahyuningsih, Ummi Duwila, Desry Jonelda Louhenapessy https://creativecommons.org/licenses/by-sa/4.0
The Impact of Capital Structure and Macroeconomic Conditions on the Performance and Growth of Basic Material Companies on the Main Board of the Indonesia Stock Exchange (IDX) in the 2021-2024 Period
This study aims to analyze the effect of Capital Structure on Company Size with a focus on the role of leverage in driving operational scale expansion. The type of research used is quantitative research with SEM-PLS 4.0 analysis tools to test the relationship between Macro Fundamentals and Capital Structure on Financial Performance and Company Size. The research findings show that Macro Fundamentals have a significant positive influence on Financial Performance and Company Size. Capital Structure has a positive and significant influence on Company Size and Financial Performance, where increasing the proportion of debt as part of the capital structure effectively drives the growth of the company's production capacity, market, and workforce. The study emphasizes the importance of wise capital structure management as a key strategy in supporting long-term growth and maintaining company competitiveness in a competitive economic environment.
Copyright (c) 2026 Dwi Danesty Deccasari Danesty, Marli https://creativecommons.org/licenses/by-sa/4.0
The Effect of Capital Structure on the Financial Performance of Healthcare Companies on the Indonesia Stock Exchange: The Moderating Role of Macroeconomics (2021–2024)
This research is a causal associative quantitative study that aims to analyze the causal relationship between Capital Structure and Financial Performance variables with Macroeconomic Moderation. The population is 16 Main Board Healthcare and Developer companies listed on the IDX in 2021-2024. Using the SEM-PLS 4.0 analysis tool, the research results show that Macroeconomic Variables contribute positively and significantly to the company's Financial Performance, indicated by a path coefficient of 0.349. Conversely, Capital Structure has a negative and significant effect on Financial Performance with a coefficient of -0.419, indicating that an inefficient capital structure can reduce financial performance.
Copyright (c) 2026 Marli, Dwi Danesty Deccasari Danesty https://creativecommons.org/licenses/by-sa/4.0
The Effectiveness of Internal Supervision of Regional Budget Performance and its Influence on Regional Economic Growth in South Buru District
Internal supervision of regional financial management is one of the factors that plays an important role in improving regional financial performance, especially in the aspect of Regional Expenditure. On the other hand, the dynamics of regional spanning realization are the main determinant of regional economic growth, especially for the regions with weak fiscal capacity support. Therefore, efforts to improve regional spending performance by increasing the effectiveness of internal regional financial supervision are obsolutely necessary. The purpose of this study is to analyze the effectiveness of internal financial supervision on budget performance and its influence on regional economic growth in South Buru Regency, for the LKPD years 2011 to 2024. For this purpose, the study uses multiple regression analysis supported by annual secondary time series data obtained from publications of the South Buru Regency Central Statistics Agency, and from the Maluku Representative Office of the Republik of Indonesia Audit Board. The results of this study indicate that variations in the number of supervisory findings (TPI) have a significant negative effect on regional budget performance (KAD), while variations on Follow-up actions according to recommendations (TLSR) have a positive effect but not statistically significant. Based on the results of the simultaneous F Test, the influence of variations in these two factors, TPI and TLSR on regional budget performance is not statistically significant, which is confirmed by the estimated value of the determination coefficient R2 of 0.338 which indicates that the effectiveness of internal supervision has not had an effective influence on regional budget performance. In another section, the results of this study show that variations in direct/capital spending (BLM) during the observation period had a significant positive effect on variations in regional economic growth. In addition, according to the results of the F Test, these two variables have a significant influence on regional economic growth with a coefficient of determination R2 of 0.751.
Copyright (c) 2026 Rahmat Dasuki, Teddy Ch. Leasiwal, Yerimias Manuhutu https://creativecommons.org/licenses/by-sa/4.0
The Role of Customer Experience and Relationship Quality in Shaping Purchase Intent, Loyalty, and Participation of IQOS Indonesia Consumers
The development of alternative tobacco products, specifically heat-not-burn tobacco products (HNBTs), is driving changes in consumer behavior, particularly in the context of customer experience and long-term brand relationships, amidst limited promotional regulations in Indonesia. This study aims to analyze the influence of customer experience on relationship quality, as well as the influence of relationship quality on purchase intention, loyalty intention, and consumer participation intention for IQOS in Indonesia. This study uses a quantitative approach with a survey method of 230 respondents who have tried or used IQOS, with data analysis using Structural Equation Modeling–Partial Least Squares (SEM-PLS). The research results indicate that customer experience has a positive and significant impact on relationship quality, and relationship quality has a positive and significant impact on purchase intention, loyalty intention, and participation intention. This finding confirms that a positive customer experience plays a crucial role in building the quality of relationships that drive sustainable consumer behavior.
Copyright (c) 2026 Muhammad Arieq Haydar, Erlita Ridanasti https://creativecommons.org/licenses/by-sa/4.0
The The Influence of Perceived Ease, Islamic Lifestyle, and Religiosity on the Consumptive Behavior Buy Now Pay Later Users of Generation Z in Jepara
The development of financial technology (fintech), specifically buy now pay later (BNPL) services, has driven changes in the consumption patterns of generation Z, making them increasingly vulnerable to consumptive behavior. From an Islamic economic perspective, this phenomenon is a crucial issue as excessive consumption contradicts the principle of wasatiyah and the prohibition of israf and tabdzir. This study aims to analyze the influence of perceived ease of use, Islamic lifestyle, and religiosity on the consumptive behavior of generation Z BNPL users in Jepara Regency. This study employs a quantitative approach with an associative research type. The sampling technique used was purposive sampling on 100 active BNPL users. Data were analyzed using multiple linear regression with SPSS 26 software. The results showed that simultaneously, perceived ease of use, Islamic lifestyle, and religiosity significantly influenced consumptive behavior with a contribution of 8.6%. Partially, perceived ease of use had no significant effect on consumptive behavior, Islamic lifestyle had a positive and significant effect, while religiosity had a negative and significant effect. These findings indicate that a symbolic Islamic lifestyle potentially drives consumption (halal lifestyle), while religiosity functions as an effective inner control in suppressing consumptive behavior. This study provides important implications for strengthening Islamic financial literacy that emphasizes the internalization of substantive religious values, rather than merely halal lifestyle symbols, in facing the massive growth of digital financial services.
Copyright (c) 2026 Mahmudatus Sa'diyah https://creativecommons.org/licenses/by-sa/4.0
Building Consumer Perception and Satisfaction Through Sharia Compliance and Security of Sharia Digital Banking
The rapid development of financial technology has transformed banking services, including Islamic banking, which strives to meet Muslims’ financial needs in accordance with Islamic principles. This study aims to examine the influence of Sharia compliance and system security on consumer perceptions and satisfaction with Islamic digital banking services. Using a quantitative approach, data were collected through an online survey of 103 Muslim Islamic bank customers in Greater Jakarta, Indonesia. PLS-SEM analysis showed that Sharia compliance and security significantly influenced consumer perceptions (R² = 0.826), whereas perceptions and security contributed to consumer satisfaction (R² = 0.668). The results of the hypothesis test indicate that Sharia compliance has a positive and significant effect on perceptions but not directly on consumer satisfaction. Perception mediates the relationship between Shariah compliance and consumer satisfaction. Security significantly influences consumer perception and satisfaction. This study emphasizes the importance of integrating Sharia compliance and security to improve customer perceptions and satisfaction with Islamic digital banking.
Copyright (c) 2026 Muhammad Jamil, Tajudin Mas’ud, Hamli Syaifullah, Laila Yumna, Ahmad Tibrizi Soni Wicaksono https://creativecommons.org/licenses/by-sa/4.0
The Influence of Product Packaging and Brand Awareness on Repurchase Intention of Sumbawa Forest Massage Oil Mediated by Consumer Satisfaction
This study aims to analyze the effect of product packaging, brand awareness on repurchase intention of Sumbawa Forest Massage Oil with consumer satisfaction as a mediating variable. This study uses a quantitative approach with a correlational research design. Data collection was carried out through a Likert-scale questionnaire distributed online to 200 respondents who knew and had purchased Sumbawa Forest Massage Oil at least once, selected using a non-probability purposive sampling technique. The variables studied included product packaging, brand awareness, repurchase intention, and consumer satisfaction. Data analysis was carried out using Partial Least Square-Structural Equation Modeling (PLS-SEM) with the help of SmartPLS 4 through evaluation of measurement models and structural models. The results showed that product packaging and brand awareness had a positive and significant effect on consumer satisfaction, brand awareness and consumer satisfaction had a positive and significant effect on repurchase intention, while product packaging had no effect and was not significant on repurchase intention, but consumer satisfaction was proven to be able to mediate the influence of product packaging and brand awareness on repurchase intention. This study shows that increasing brand awareness and consumer satisfaction is the main strategy in encouraging repeat purchases and sustainability of traditional medicinal product MSMEs, and provides a basis for policy making and further research development by adding other variables or expanding the study object to other traditional herbal products.
Copyright (c) 2026 Yasmin Liana Izati, Lalu Adi Permadi https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Impact of Material Flow Cost Accounting (MFCA) on the Circular Economy: The Mediating Role of Sustainable Financial Strategies (Empirical Study on Personal Care Companies in Indonesia, Malaysia, and Thailand 2020–2024)
This study analyzes the effect of Material Flow Cost Accounting (MFCA) on the circular economy with sustainable finance strategy as a mediating variable in personal care companies listed on the Indonesia, Malaysia, and Thailand stock exchanges for the 2020-2024 period, amidst the challenges of plastic waste in the ASEAN cosmetics sector. The objective is to test the causal relationship and mediation role using a quantitative panel data regression approach. The population includes non-cyclical consumer companies, a purposive sample of 70 observations from annual reports. Instruments include the CE Index (10 indicators), MFCA ratio, and SDGs Index (17 indicators) via content analysis; the analysis includes the Chow-Hausman test, regression, and Sobel test. The results show that MFCA has a significant negative effect on the circular economy (β=-0.409, p=0.042), sustainable finance strategy has a positive effect (β=1.128, p<0.001), but does not mediate (H2 is not significant). In conclusion, companies need to strategically integrate MFCA into green investments for an effective circular transition.
Copyright (c) 2026 Irsyad Maulana, Sugiyanto, Firman Tatariyanto https://creativecommons.org/licenses/by-sa/4.0
The Influence of Celebrity Endorsers and Product Quality on Repurchase Intention of Timephoria Cosmetics in Mataram City Moderated by Consumer Satisfaction
The halal cosmetics industry in Indonesia is growing rapidly with a market value of USD 7.8 billion in 2022, but Timephoria customer retention in Mataram City is still below national standards, creating a research gap regarding the influence of celebrity endorsers and product quality on repurchase intentions moderated by consumer satisfaction. This study aims to examine this relationship to provide marketing strategy recommendations. Using a quantitative explanatory approach with a causal survey method and SEM-PLS, the population included Timephoria consumers in Mataram aged ≥17 years, with a sample of 250 respondents via purposive sampling through Google Forms on social media. The 5-point Likert scale questionnaire instrument was tested for validity (outer loading >0.7, AVE >0.5) and reliability (CR >0.7, Cronbach's α >0.7) using SmartPLS 4.0, analyzed through outer/inner models, R-square, and bootstrapping. The results show that product quality (β=0.369, t=4.283, p<0.001) and consumer satisfaction (β=0.489, t=6.131, p<0.001) have a significant effect on repurchase intention (R²=0.787), while celebrity endorser (t=1.178, p=0.239) and moderation are not significant. The conclusion recommends prioritizing halal product innovation and customer service for optimal retention.
Copyright (c) 2026 Elvarah Sandova, Lalu Adi Permadi https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Attitude, Green Product, And Digital Marketing On Generation Z Consumer Behavior In Pekanbaru City From The Maqasid Syariah Perspective
This study aims to determine the effect of Attitude, Green Product, and Digital Marketing on the Consumptive Behavior of Generation Z in Pekanbaru City from the perspective of Maqasid Syariah. This research uses a quantitative approach with data collected through questionnaires distributed to 399 Generation Z respondents in the Binawidya District, Pekanbaru City. Data analysis was conducted using SPSS version 26 with validity, reliability, classical assumption tests, t-test (partial), F-test (simultaneous), and coefficient of determination (R²). The results show that the Attitude variable has a positive and significant effect on Consumptive Behavior (t = 86.170 > 1.996; Sig. = 0.000 < 0.05), Digital Marketing also has a positive and significant effect (t = 3.276 > 1.996; Sig. = 0.001 < 0.05), while Green Product has no significant effect (t = -0.418 < 1.996; Sig. = 0.676 > 0.05). Simultaneously, the three variables have a significant effect on Consumptive Behavior (F = 4953.606; Sig. = 0.000 < 0.05) with an R² value of 0.974, indicating that 97.4% of the variation in consumptive behavior is explained by these variables From the perspective of Maqasid Syariah, the findings suggest that the consumptive behavior of Generation Z can be directed toward ethical and value-based consumption through the preservation of (Hifzh Ad-Din), intellect (Hifzh al-‘Aql), wise management of wealth (Hifzh al-Mal), and environmental awareness (Hifzh al-Nafs and Hifzh al-Nasl). Therefore, Islamic principles play a crucial role in shaping balanced and responsible consumption patterns in the digital era.
Copyright (c) 2026 Fitri Amalia, Muhammad Albahi, Nanda Suryadi https://creativecommons.org/licenses/by-sa/4.0
Influence of Financial Literacy, Self-Control, and Risk Tolerance on Financial Well-Being with Investment Decision-Making as a Mediating Variable in Generation Z in Jambi City
This study examines the influence of financial literacy, self-control, and risk tolerance on the financial well-being of Generation Z in Jambi City, where low literacy and impulsive behavior threaten financial stability (OJK, 2024). The aim is to examine the direct and mediating relationships in investment decision-making. Using a quantitative explanatory approach with PLS-SEM, the Generation Z population aged 18-28 years (133,114 people) was purposively sampled to obtain 100 respondents via a Google Form questionnaire. SmartPLS analysis included validity, reliability, and hypothesis testing. The results showed that financial literacy (β=0.405, p<0.01) and self-control (β=0.391, p<0.01) had a direct significant effect on financial well-being; investment decision-making mediated partially (H8-H9 were accepted), while risk tolerance was not significant (H3, H7, H10 were rejected). The conclusion recommends a self-control-based digital literacy program to improve sustainable investment decisions.
Copyright (c) 2026 Raras Aroyo, Wirmie Eka Putra, Rita Friyani https://creativecommons.org/licenses/by-sa/4.0
Buying and Selling Transactions of Artificial Intelligence Work that Imitate Studio Ghibli's Style Judging from Wahbah Az-Zuhaili's Opinion
This research discusses the validity of buying and selling transactions for works of art produced by Artificial Intelligence (AI) by imitating the visual style of Studio Ghibli from the perspective of Wahbah Az-Zuhaili. The method used is a normative legal research method with a conceptual approach. The results of this research show that, according to Wahbah Az-Zuhaili, transactions of this kind are considered valid if they fulfill the conditions for buying and selling in Islam, which include clarity of the object, legal ownership, and the absence of elements of fraud and ambiguity. However, works produced by (AI) by imitating certain styles without permission may violate the principle of rights protection, so the transaction may be considered defective. Therefore, openness regarding products, compliance with rights, and implementation of a compensation system are needed to ensure that transactions comply with the principles of muamalah fiqh
Copyright (c) 2026 azura tasya azura https://creativecommons.org/licenses/by-sa/4.0
The Influence of Financial Self-Efficacy and Peer Influence Regarding Investment Decisions on Financial Assets: Comparative Gen Z in Mataram and Surabaya with Risk Tolerance As a Moderating Variable
This study examines the influence of financial self-efficacy and peer influence on Gen Z financial asset investment decisions in Mataram and Surabaya, with risk tolerance as a moderating variable, amidst low financial literacy (38%) and the dominance of young investors. The objective is to analyze causal relationships and cross-regional comparisons. Using a comparative explanatory quantitative approach with PLS-SEM, the Gen Z investor population (17-28 years old) was purposively snowball-sampled (260 respondents). The 5-point Likert questionnaire instrument was analyzed via SmartPLS (outer/inner model, MRA, PLS-MGA). The results show that financial self-efficacy has a significant effect (t=8.914, p=0.000), peer influence is weakly significant (t=1.896, p=0.029), but risk tolerance does not moderate (p>0.05); the model explains 66.9% of the variation. Conclusion: Strengthening self-efficacy for rational Gen Z decisions across regions.
Copyright (c) 2026 Afifah Putri Maharani, Burhanudin https://creativecommons.org/licenses/by-sa/4.0
Influence Branding , Brand Awareness and Brand Image To Consumer Loyalty to the Muslim Fashion Brand Nadheera Luxury
Study This aim For analyze the influence of branding, brand awareness, and image brand to loyalty consumers . In competition growing business​ strict , company sued have an effective marketing strategy For maintain consumers . Branding plays a role in form identity and differentiation brand , brand awareness helps consumer recognize and remember brand , whereas image brand reflect perception as well as level trust consumer to brand . This study uses a quantitative approach with a survey method on consumers as respondents. Data were analyzed using multiple linear regression analysis to test the influence of variables partially and simultaneously. The results of the study indicate that the variables branding (X1), brand awareness (X2), and brand image (X3) have a positive and significant effect on consumer loyalty with a significance value of less than 5% ( α < 0.05). The results of the multiple linear regression analysis show that the three variables simultaneously contribute 57.6% to consumer loyalty. This finding indicates that the stronger the branding, the higher the level of awareness and positive brand image, the more consumer loyalty to a brand will increase. Therefore, companies are advised to manage these three aspects in an integrated and sustainable manner to create long-term consumer loyalty.
Copyright (c) 2026 Putri Ariska Maulidina, Rina Rachmawati https://creativecommons.org/licenses/by-sa/4.0
The Influence of Trust on Consumer Purchasing Decisions for Local SME Products: A Comparison of Sales Through E-Commerce and Offline Stores with an Experimental Approach
The Influence of Trust on Consumer Purchasing Decisions for Local SME Products: Comparison of Sales via E-Commerce and Offline Stores with an Experimental Approach, guided by Fitriany and Andi Ririn Oktaviani. This study examines the extent to which trust influences consumer purchasing decisions for local MSME products in Makassar City, by comparing two main channels: e-commerce and offline stores. The approach used was quantitative, through a survey of 200 purposively selected respondents. Data analysis was conducted using simple linear regression and validity and reliability tests. The results show that trust plays a significant role in driving purchasing decisions, both online and offline. However, the influence of trust is stronger in the e-commerce context, as indicated by a higher coefficient of determination and significance level. In conclusion, building trust is key for MSMEs, especially in the digital marketplace. Businesses are advised to focus on improving product quality, transaction security, and information transparency to strengthen consumer loyalty on online platforms
Copyright (c) 2026 Basri Basir, Fitriany, Andi Ririn Oktaviani https://creativecommons.org/licenses/by-sa/4.0
Creative Economy in Development of Micro , Small and Medium Enterprises : A Case Study in Tangkelek , Padang City
Study This aim For analyze role economy creative in development of Tangkelek MSMEs in Padang City based on wisdom Minangkabau local . The method used is study descriptive qualitative through studies library with utilizing secondary data from literature and documents related. Research results show that implementation economy creative in Tangkelek MSMEs reflected through innovation design product , differentiation based culture local , as well as utilization digital technology in Marketing . Creative economy play a role in increase mark add, power competitiveness and sustainability business although with capital limitations . Research This conclude that economy creative own role strategic in support development of local MSMEs and the need supported by the increase quality source Power man as well as policy sustainable government .​
Copyright (c) 2026 Vivi Rizky Aulya, Vivi Rizky Aulya, Adhe Okta Safira, Susi Evanita https://creativecommons.org/licenses/by-sa/4.0
How Islamic Lifestyle Affects Housewives' Responses to Product Availability, Service Quality, and Promotions in the Use of the Alfagift Application in Parepare City
This study aims to analyze the effect of product availability, service quality, and promotion on the purchasing decisions of Alfagift app users in Parepare City with Islamic lifestyle as a moderating variable. The study uses a quantitative approach with a survey method on 125 housewives selected through purposive sampling. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) through SmartPLS. The outer model test results showed that all indicators met the validity and reliability criteria with factor loading values > 0.70, AVE > 0.50, and Composite Reliability > 0.70. The inner model test produced an R² value of 0.780, indicating the model's strong explanatory power. The hypothesis test results prove that product availability (β = 0.515), service quality (β = 0.383), and promotion (β = 0.445) have a positive and significant effect on purchasing decisions. In addition, Islamic lifestyle has a significant effect and is able to positively moderate the influence of these three variables on purchasing decisions, thereby strengthening the role of religious values in digital consumption behavior.
Copyright (c) 2026 Reski Mahmud, Arwin, Umaima, Multazam Mansyur Addury https://creativecommons.org/licenses/by-sa/4.0
Analysis of the Influence of Profitability, Company Size, and Business Risk on Capital Structure (A Study of Food and Beverage Companies Listed on the Indonesia Stock Exchange for the 2018-2022 Period)
This study aims to analyze the effect of profitability, company size, and business risk on the capital structure of food and beverage companies listed on the Indonesia Stock Exchange for the 2018–2022 period. The study uses a quantitative approach with a multiple linear regression design. The population consists of food and beverage companies active on the IDX during that period. A sample of 17 companies was selected through a purposive sampling technique with the criteria of the company remaining listed, consistently publishing financial reports, not experiencing losses, and having complete data, resulting in 85 observations (17 companies × 5 years). Secondary data were obtained from financial reports on the official IDX website (www.idx.co.id) and company websites. The analysis includes descriptive statistics, classical assumption tests (normality, multicollinearity, heteroscedasticity, autocorrelation), and hypothesis testing (t-test, F-test, and coefficient of determination R²). The results show that companies with high profitability tend to be more flexible in managing their capital structure, while large companies rely more on internal funding, reducing their dependence on debt. Business risk is not a major determining factor in the food and beverage sector, which has stable demand. Consequently, company management can prioritize increasing profitability and managing company size to achieve an optimal capital structure, while operational risk can be managed through a product diversification strategy. Future research is recommended to add variables such as liquidity or asset structure and expand to other sectors for broader generalization.
Copyright (c) 2026 Ana Amalia Harnawan, Eskasari Putri https://creativecommons.org/licenses/by-sa/4.0
Design Of An Operations Strategy-Based Framework To Align Demand And Capacity In A Crsytal Ice Manufacturing SME Within The Cold-Chain Industry
This study examines the mismatch between production capacity, market demand, and distribution performance at a small and medium-sized enterprise (SME) producing ice crystals (Company A) in the cold chain industry. The company operates two machines with a total capacity of 10 tonnes per day, but actual sales volume only reaches 4-5 tonnes per day. This situation has resulted in low production utilisation, limited distribution coverage. Operational data for 2024-2025 shows that customer demand fluctuates on a daily, weekly, and hourly basis, while ordering behaviour is sudden, preventing the company from optimally planning production and distribution routes. The capacity of five motor couriers within a 12 km radius also becomes a bottleneck during peak hours, hindering delivery accuracy.Based on these conditions, this study formulates the problem of how to align production capacity, market demand, and distribution performance by determining the operational performance objectives; quality, speed, reliability, flexibility, and cost that need to be prioritised. The research design uses a mixed method case study with a quantitative dominance. Internal archive data analysis was conducted to calculate production utilisation, distribution utilisation, sales-to-output ratio, and demand-capacity gap stability. Next, six internal experts (the owner, administrative staff, two production operators, and two couriers) provided assessments through the Analytical Hierarchy Process (AHP), and the results were tested for consistency before being combined into group priority weights.The results of the study show that there is a consistent mismatch between installed capacity and actual demand. Average production utilisation is at 34-36%, while distribution loads accumulate during morning and afternoon peak hours. AHP analysis shows that cost, speed, and reliability are the top priorities for improving operational performance, in line with the patterns of inefficiency apparent in the operational data. This study in the discussion section highlights that distribution responsiveness, minimisation of inefficient costs of operations, and provision consistency in the fulfilment of services are essential in harmonising capacity and demand. The combination of operational results and AHP priorities provides the design of an alignment-based framework of an operational strategy. Suggestions on future research include creating a digital system that uses real-time data and increasing investigation into other cold chain SMEs in order to ensure that this strategic framework is more externally valid.
Copyright (c) 2026 Maudy Farras Raihan, Dermawan Wibisono https://creativecommons.org/licenses/by-sa/4.0
Candidate Experience in Participating in Virtual Recruitment on Candidate Satisfaction and Trust: A Study at State-Owned Enterprises (PLN)
This study aims to analyze the effect of candidate experience in participating in virtual recruitment on candidate satisfaction and trust at PT PLN (Persero), with the background of increasing use of digital recruitment systems in State-Owned Enterprises, which requires companies to ensure that virtual selection processes are able to provide a good experience for candidates. This study uses a quantitative approach with a simple linear regression analysis technique through SPSS on candidates who have participated in PT PLN (Persero) virtual recruitment. The results show that candidate experience affects candidate satisfaction, while candidate experience does not affect candidate trust. Overall, this study confirms that the success of virtual recruitment depends on the company’s ability to create experiences that can increase candidate satisfaction. Therefore, improvements are needed in communication quality, transparency, and the stability of the digital recruitment system at PT PLN (Persero).
Copyright (c) 2026 Hasriani, Altri Wahida, Halim Usman https://creativecommons.org/licenses/by-sa/4.0
Marketplace Responsibility for the Distribution of Counterfeit Flavoring Products: A Maqasid al-Shariah Perspective
The development of marketplaces has facilitated digital transactions; however, it has also increased the circulation of counterfeit flavoring products that potentially cause economic and health-related harm to consumers. This study aims to analyze marketplace responsibility for the distribution of such products and to examine it from the perspective of maqashid al-shariah. The legal research method employed in this study is a normative-empirical legal approach, with data collected through literature review and observation of the sales practices of counterfeit flavoring products in marketplaces. The data were analyzed qualitatively through normative interpretation, comparison between legal norms and actual practices, and evaluation based on the principles of maqashid al-shariah. The findings indicate that marketplace supervision remains reactive and has not been optimally implemented in a preventive manner, thereby allowing the widespread circulation of counterfeit products. From the perspective of maqashid al-shariah, marketplace responsibility is not merely formal as a platform provider, but also encompasses an active obligation to prevent harm, protect consumer welfare, and ensure justice in digital transactions. This responsibility is closely related to the protection of life (hifz al-nafs), the protection of property (hifz al-mal), and the protection of lineage (hifz al-nasl). Therefore, marketplace operators bear both ethical and legal responsibilities to implement preventive supervision, seller verification, product control mechanisms, and consumer protection measures as part of realizing the objectives of Sharia in digital economic activities
Copyright (c) 2026 Alifah Nahdah, Rahmat Hidayat https://creativecommons.org/licenses/by-sa/4.0
The Effect of Profitability on Stock Prices with Shariah Corporate Social Responsibility as a Moderating Variable (A Study of Shariah Banks Listed on the Indonesia Stock Exchange)
This research aims to analyze Islamic banks listed on the Indonesia Stock Exchange (IDX) and their stock prices in relation to profitability and Shariah Corporate Social Responsibility (Shariah CSR). Profitability affects stock prices significantly, with Shariah CSR acting as a moderator, according to the study hypothesis. This study employs a quantitative approach using secondary data obtained from financial statements and annual reports. Profitability is proxied by Return on Assets (ROA), stock prices are proxied by market prices, and Shariah CSR is measured using the Islamic Social Reporting (ISR) index. Data analysis is conducted using Moderated Regression Analysis (MRA). The results indicate that profitability has a significant effect on stock prices and that Shariah CSR is proven to be a significant moderating variable. The implications of this study provide practical contributions for Islamic bank management in improving financial performance and the quality of Shariah CSR disclosure, as well as empirical contributions for investors in making investment decisions in the Islamic capital market.
Copyright (c) 2026 Putri Indah, Erniyati Caronge, Halim Usman https://creativecommons.org/licenses/by-sa/4.0
The Influence of Online Customer Reviews and Online Customer Ratings on Purchasing Decisions for Cosmetic and Skincare Products via Sociolla E-Commerce
The purpose of this study is to determine the influence of online customer reviews and online customer ratings on purchasing decisions for cosmetic and skincare products through Sociolla E-Commerce. This type of causal quantitative research uses PLS-SEM, with a population of Sociolla consumers in Mataram and a sample of 100 respondents through purposive sampling. The instrument in the form of a 5-point Likert questionnaire was analyzed with SmartPLS after validity and reliability tests. The results of the study indicate that online customer reviews have a positive and significant effect on purchasing decisions, online customer ratings are also proven to have a positive and significant effect on purchasing decisions. Online customer reviews and online customer ratings have a contribution of 0.633 and an adjusted R-square of 0.626 or 62.6% in forming purchasing decisions and the remaining 36.7% is determined by other variables outside the research model.
Copyright (c) 2026 Intan Rizkia, Rusminah HS https://creativecommons.org/licenses/by-sa/4.0
Banking Stock Market Reaction to the Announcement Bank Indonesia Interest Rate Event: Announcement of BI Benchmark Interest Rate Reduction, By the Board of Governors Meeting, August 19, 2025
This study examines the reaction of banking sector stocks on the Indonesia Stock Exchange to Bank Indonesia's announcement of a 25 basis point BI-Rate cut to 5.00 percent on August 19, 2025. The objective is to assess the market response through abnormal returns around the event. Using a comparative quantitative approach with an event study method, the population is all listed banking issuers, a purposive sample of 41 companies with complete daily closing price data. Secondary data from the IDX and the Jakarta Composite Index (JCI) are analyzed through a market model on the estimation window t-40 to t-11, AR and AAR calculations on the event window t-10 to t+10, Wilcoxon Signed-Rank test due to non-normal data (α = 0.05). The results show no significant difference in AAR before the event (mean = 0.002638, SD = 0.018113) and after (mean = 0.002395, SD = 0.008696), with p = 0.164. In conclusion, the policy did not cause a market surprise because it had been anticipated.
Copyright (c) 2026 Islamiah, Iwan Kusmayadi https://creativecommons.org/licenses/by-sa/4.0
Analysis of Factors Influencing the Demand for Money in Indonesia for the Period 2010Q1-2024Q4
M2 money demand in Indonesia is influenced by crucial macroeconomic factors such as real GDP, inflation, BI Rate, and economic uncertainty, but their effects are not empirically consistent. This study aims to analyze the influence of these variables on M2 money demand for the 2010Q1-2024Q4 period. Using a quantitative approach with secondary quarterly time series data from BPS, BI, and FRED (60 observations), the analysis was conducted through the Error Correction Model (ECM) in EViews 10 including the ADF test, OLS, Engle-Granger cointegration, and classical assumption tests. The results show that real GDP has a significant positive effect in both the long term (β = 2.153708; p = 0.0000) and short term (γ = 0.287925; p = 0.0361), while inflation, interest rates, and the uncertainty index are insignificant. ECT = -0.151084 (p = 0.0084) indicates an adjustment of 15.11% per period. The study concludes that GDP is the main driver of M2 with implications for monetary policy focusing on economic growth.
Copyright (c) 2026 Mita Apriani, Ida Ayu Putri Suprapti https://creativecommons.org/licenses/by-sa/4.0
The Effect of Self-Efficacy and Perceived Organizational Support on Performance through Readiness for Change as an Intervening Variable in Employees Working at PT Kenza Hospitality Investment
Tourism in Indonesia has experienced significant growth, but along with its expansion, the sector faces challenges related to the readiness of competent human resources (HR). This study aims to analyze the effect of self-efficacy and perceived organizational support on employee performance, with readiness for change as an intervening variable. Using an associative quantitative approach, data were collected through questionnaires distributed to employees of PT Kenza Hospitality Investment in Mandalika, Lombok. The results show that self-efficacy and perceived organizational support positively influence employee performance, both directly and through readiness for change as a mediator. The higher the self-confidence and organizational support, the better the employee performance, and readiness to change also improves their performance. These findings provide implications for companies to enhance employees' self-efficacy and strengthen organizational support to improve performance in the face of change.
Copyright (c) 2026 Baiq Nursahdian, Djoko Suprayetno https://creativecommons.org/licenses/by-sa/4.0
Profit and Capital Structure as Positive Signals Against Firm Value
The mining sector on the IDX faces challenges such as commodity price volatility and downstream regulations, which impact firm value through capital structure and profitability decisions. This study aims to analyze the influence of profit and capital structure as positive signals on firm value for the 2022-2024 period, with profitability as a moderating variable. A quantitative causal associative approach was used, using a population of all mining companies on the IDX, and a sample of 54 companies through purposive sampling. Secondary data from financial statements were analyzed using SPSS multiple linear regression after classical assumption testing. The results show a significant negative effect of capital structure (β=-0.776, p=0.002), a significant positive effect of profitability (β=0.511, p=0.020), and a significant negative moderating effect (β=-0.246, p=0.048), with an R² of 28.4%. Conclusion: Profitability mitigates the negative impact of capital structure, strengthening signaling theory for optimal investment decisions.
Copyright (c) 2026 Khoiro Yulida, I Nyoman Nugraha Ardana Putra https://creativecommons.org/licenses/by-sa/4.0
Consumer Decision Preferences for Halal-Labeled Cosmetic Products in the Perspective of Islamic Economics
This study aims to analyze the influence of socioeconomic factors, price, and religiosity on the consumption decisions of halal-labeled cosmetic products with consumer trust as a mediating variable among Muslim female students at Andalas University. The research method used a quantitative approach with data collection techniques through questionnaires to 100 respondents selected using purposive sampling. Data analysis was conducted using Structural Equation Modeling based on Partial Least Square (SEM-PLS) with the help of the SmartPLS application. The results show that price and religiosity have a positive and significant effect on consumer trust and consumption decisions, while socioeconomic factors have no significant effect. In addition, consumer trust is unable to significantly mediate the influence of independent variables on consumption decisions. The implications of this study indicate that religiosity and price, which reflect product quality, are the main determinants in forming consumption decisions of halal cosmetic products among Muslim consumers.
Copyright (c) 2026 Febby Fitri Adriansyah, Neng Kamarni https://creativecommons.org/licenses/by-sa/4.0
The Influence of Brand Image and Service Quality on the Intention to Recommend Maxim Online Transportation Services in Mataram City with Brand Trust as a Mediating Variable
This study examines the influence of brand image and service quality on recommendation intention of Maxim online transportation service in Mataram City with brand trust as a mediator, amidst tight competition where Maxim has a Top Brand Index of only 2.8% in 2024. The main objective is to test the direct and indirect relationships between these variables. Using a causal associative quantitative approach with purposive sampling on 200 respondents Maxim users aged ≥17 years who are active on social media. The instrument in the form of a Likert scale questionnaire was analyzed using SmartPLS for validity, reliability, and hypothesis testing. The results show all significant paths: brand image (β = 0.588 to brand trust; β = 0.216 directly to recommendation intention), service quality (β = 0.649 to brand trust; β = 0.320 directly), and brand trust (β = 0.589 to recommendation intention), with full mediation and R² = 87.9%. The conclusion implies a strategy to improve brand image and service to increase consumer recommendations.
Copyright (c) 2026 Dewi Fitriani, Lalu Adi Permadi https://creativecommons.org/licenses/by-sa/4.0
The Role of Good Corporate Governance in Moderating the Effect of Financial Performance on Firm Value: Evidence from Manufacturing Companies Listed on the Indonesia Stock Exchange
Copyright (c) 2026 Nita Priska Ambarita https://creativecommons.org/licenses/by-sa/4.0
The Influence of Profitability, Leverage, and Good Corporate Governance on the Value of Government Banking Companies 2020–2023 Period
The Indonesian state-owned banking sector faces valuation challenges post-COVID-19 pandemic despite fundamental improvements. This study aims to analyze the effect of profitability (ROA), leverage (DER), and Good Corporate Governance (GCG) on the firm value (PBV) of state-owned banks (Himbara) for the 2020-2023 period. Using a quantitative associative-causal approach, the population includes five Himbara banks with a census sample of 20 firm-year observations through purposive sampling. Secondary data from financial statements were analyzed using SPSS multiple linear regression after classical assumption testing. The results show that the three variables have no significant effect, either partially (sig. >0.05) or simultaneously (Sig. F=0.508; R²=13.1%). The conclusion states that external factors dominate the valuation of state-owned banks, suggesting a focus on policy transparency.
Copyright (c) 2026 Lisa Karena Putri, Lalu Hamdani Husnan https://creativecommons.org/licenses/by-sa/4.0
The Effect of Environmental Management Accounting and Business Strategy on the Sustainable Production Effectiveness of SMEs in Toraja
Environmental Management Accounting (EMA) is an appropriate approach to support decision-making that considers both economic and environmental aspects simultaneously (Hutagalung & Lumban, 2024; Fitriani & Pandin, 2025; Setiawan & Ghozali, 2016). Increasing competition in the business world forces entrepreneurs to adopt effective strategies and continuously innovate their products to remain competitive and meet customer needs (Kotler & Keller, 2016). Sustainable production effectiveness is measured using indicators such as resource use efficiency, regulatory compliance, waste reduction, and customer satisfaction. The study employed a quantitative approach. Data were collected through the distribution of questionnaires to culinary and craft SMEs in Toraja. Data analysis techniques included validity and reliability tests, as well as linear regression analysis to determine the significance of the influence of the independent variables (EMA and business strategy) on the dependent variable (sustainable production). The results of the study indicate that both EMA and business strategy significantly affect sustainable production in SMEs in Toraja.
Copyright (c) 2026 Olivia Devi Yulian Pompeng, Astriwati Biringkanae https://creativecommons.org/licenses/by-sa/4.0
The Influence of Healthy Lifestyle on Purchase Intention of Healthy Beverage MSME Products, Fruve Juicery, Mediated by Perceived Value
As public awareness of healthy consumption patterns in Indonesia increases, consumer preferences for health-based products are increasing, which in turn influencesPurchase intention through evaluation of product perceived value, based on this phenomenon, this study aims to analyze the influence of Healthy Lifestyle on Purchase Intention of Fruve Juicery healthy drink products with Perceived Value as a mediating variable. This study uses a quantitative approach with a causal associative design through a survey method. Data were collected from 100 respondents who were selected purposively in Mataram City, aged at least 16 years and have knowledge about Fruve Juicery products. The research instrument used a questionnaire measured with a Likert scale. Data analysis was carried out using Structural Equation Modeling–Partial Least Squares (SEM-PLS) through SmartPLS 4.0 software to test the validity, reliability, and research hypotheses. The results showed that a healthy lifestyle has a positive and significant effect on purchase intention, both directly and through perceived value as a mediating variable. In addition, perceived value has been shown to play an important role in increasing consumer purchase intention for MSME healthy drink products. These findings indicate that consumer perceived value is a key mechanism in linking a healthy lifestyle to purchasing decisions. Therefore, healthy beverage MSMEs need to improve consumer value perception by improving product quality and optimizing digital marketing strategies to strengthen consumer purchasing intentions.
Copyright (c) 2026 Frisca Karlina Soinbala, Baiq Handayani Rinuastuti https://creativecommons.org/licenses/by-sa/4.0
The Influence of Soft Skills, Hard Skills, and Self-Efficacy on Entrepreneurial Interest with Entrepreneurship Education as a Mediating Variable in Management Students of the Class of 2022 Faculty of Business Economics
This study examines the influence of soft skills, hard skills, and self-efficacy on entrepreneurial interest with entrepreneurship education as a mediating variable in Management students of the 2022 FEB UNRAM class, amidst the low level of entrepreneurship in Indonesia (BPS, 2024). The aim is to test the causal relationship through an explanatory quantitative approach with SEM-PLS. The population was 58 students, using saturated sampling. The Likert scale questionnaire instrument was validated through loading factor >0.70, Cronbach's Alpha >0.70, and analyzed via SmartPLS with bootstrapping. The results show that hard skills and self-efficacy have a significant direct positive effect on entrepreneurial interest (coefficients 0.453 and 0.3, p<0.05), while soft skills do not (p=0.079); all three influence entrepreneurship education, which mediates the indirect relationship (p<0.01). In conclusion, entrepreneurship education strengthens skills and self-confidence to increase entrepreneurial interest, suggesting integration of practical curriculum.
Copyright (c) 2026 Baiq Uswatun Hasanah, Sulaimiah https://creativecommons.org/licenses/by-sa/4.0
The Binding Power of Underhand Business Contracts in Trade Practices
Business contracts are an important instrument in trade practices, serving as the basis for legal relationships between parties. In practice, many business contracts are drawn up underhand for efficiency and flexibility. However, the use of underhand contracts often raises legal issues, particularly regarding their binding force and evidentiary validity in the event of a dispute. This study aims to analyze the binding force of underhand business contracts in trade practices and their implications for legal certainty for the parties. This research employs normative legal research methods with both a statutory and conceptual approach. Data were obtained through a literature review of laws and regulations, legal doctrines, and literature relevant to contract law and evidence. Qualitative analysis was conducted by interpreting legal norms related to the validity and binding force of agreements. The research results show that underhand business contracts have legally binding force as long as they meet the requirements for a valid agreement as stipulated in the Civil Code. The main difference between underhand contracts and authentic deeds lies in the evidentiary aspect, not in the validity of the agreement. Underhand contracts have perfect evidentiary force if acknowledged by the parties, but require additional evidence in the event of a denial. Therefore, the use of underhand business contracts remains relevant in trade practice, but requires caution in their formulation to ensure legal certainty and protection. Keywords: business contracts, underhand agreements, binding force, proof, trade practices.
Copyright (c) 2026 Mulyani Santoso https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Savings Motivation And Peers On Financial Habits Among Adolescents In Tolada Village
In the digital era, adolescents are increasingly exposed to a consumer lifestyle that can influence their financial habits. This study aims to analyze the influence of savings motivation and peer influence on the financial habits of adolescents in Tolada Village. This study used a quantitative approach with a correlational and cross-sectional design. A sample of 133 adolescent respondents aged 15–21 years was obtained through stratified random sampling. The data collection instrument was a questionnaire whose validity and reliability have been tested. Data analysis was performed using multiple linear regression using SPSS version 22. The results showed that simultaneously, savings motivation and peer influence significantly influenced adolescents' financial habits (p < 0.05). However, partially, neither savings motivation nor peer influence showed a significant influence individually. This finding indicates that adolescents' financial habits are more influenced by a combination of several factors simultaneously. Therefore, a holistic approach involving financial education, social support, and the role of the environment is key to forming healthy financial habits among adolescents
Copyright (c) 2026 Rusni Rusanda, Hapid, Halim Usman https://creativecommons.org/licenses/by-sa/4.0
Leverage and Profitability on Company Dividend Policy in Moderation of Audit Committee and Gender Diversity
This study examines the effect of leverage and profitability on dividend policy moderated by audit committees and gender diversity in non-financial companies in Indonesia, where previous empirical findings have been inconsistent due to differences in financial theory and the emerging market context. The study aims to examine the direct effect of leverage and profitability on the Dividend Payout Ratio (DPR) and the moderating role of governance mechanisms. Using a quantitative explanatory approach with panel data regression Fixed Effect Model on the population of non-financial companies listed on the Indonesian Stock Exchange (IDX) for the period 2019-2023, a purposive sample of 78 companies (390 observations) was used. Secondary data instruments from financial statements were analyzed through descriptive analysis, the Chow-Hausman test, classical assumptions, multiple regression, and Moderated Regression Analysis (MRA) with EViews 13. The results show that leverage and profitability have no significant partial effect (p>0.05), while audit committees and gender diversity do not moderate the relationship, although the simultaneous model is significant (F-statistic p=0.000). The conclusion states that dividend policy is more determined by managerial factors than financial ratios or formal governance, so investors need to consider the company's internal strategy
Copyright (c) 2026 Sandra Yunita Hidayat, Iwan Kusumayadi https://creativecommons.org/licenses/by-sa/4.0
Relevant Information and Managerial Performance: The Moderating Role of Accounting System Digitalization in State-Owned Banks
This study aims to examine the effect of job relevant information on managerial performance and to analyze the moderating role of accounting system digitalization in state-owned banks (Bank BUMN). Grounded in contingency theory, the study hypothesizes that job relevant information positively influences managerial performance and that accounting system digitalization strengthens this relationship. A quantitative research design with a survey method was employed. Data were collected using structured questionnaires from 40 employees of Bank BUMN in Jambi City who were directly involved in accounting and reporting activities. The data were analyzed using moderated regression analysis to test both direct and interaction effects among variables. The results show that job relevant information has a positive and significant effect on managerial performance, indicating that the availability of task-relevant information supports effective managerial decision-making. However, accounting system digitalization does not moderate the relationship between job relevant information and managerial performance. These findings suggest that the effectiveness of managerial performance is primarily determined by the quality and relevance of information rather than the level of system digitalization alone. The study contributes to the development of management accounting literature by highlighting the contingent role of digitalization in the public banking context. Practically, the results imply that Bank BUMN should prioritize improving the quality of job relevant information while aligning digital accounting systems with managerial decision-making needs. Future research is encouraged to expand the research context and incorporate additional contingency factors to further explain variations in managerial performance.
Copyright (c) 2026 Irga Anugrah Safira Harahap, Paul Usmani, Jefry Gesperz https://creativecommons.org/licenses/by-sa/4.0
Policy Strategies for Accelerating Poverty Reduction In Central Maluku Regency: Evidence from Program Convergence and Innovation
Poverty is a multidimensional development challenge that requires integrated and sustainable policy responses. Central Maluku Regency has introduced several innovative poverty alleviation programs, namely Masohi Merakyat, Dompet Siafa, and MANTAB (Pinjaman Tanpa Bunga, Interest-Free Loans), as locally driven initiatives to address poverty. This study aims to assess the effectiveness of these innovative programs and to formulate policy strategies for accelerating poverty reduction in Central Maluku Regency. This study employed a descriptive approach that combines qualitative and quantitative methods. The findings indicate that, while the implementation of the innovation programs can be classified as effective, their overall level of effectiveness remains relatively modest, with several indicators falling within the moderately effective category. Key constraints identified include limitations in the accuracy of poverty data, insufficient program socialization, suboptimal cross-sectoral synergy, and weaknesses in monitoring and evaluation mechanisms. Based on a SWOT analysis, this study recommends an aggressive strategy focused on strengthening program convergence, improving data quality, optimizing stakeholder collaboration, and enhancing adaptive monitoring and evaluation systems that are responsive to local conditions.
Copyright (c) 2026 Yuyun Masriana Ushan, Muhammad Bugis, Izaac Tonny Matitaputty https://creativecommons.org/licenses/by-sa/4.0
Infrastructure, Human Capital, And Local Revenue As Determinants of Economic Growth in North Maluku Province
North Maluku Province has recorded positive economic growth in recent years; however, this progress has been accompanied by substantial regional disparities in development across regencies/cities. These regional disparities are reflected in unequal infrastructure provision, variations in the quality of human capital, and uneven contributions of Local Own-Source Revenue (Pendapatan Asli Daerah, PAD), all of which constrain the acceleration of inclusive regional economic growth. This study aims to examine the effects of infrastructure, human capital, and PAD on economic growth in North Maluku Province. This quantitative study utilized panel data from 10 regencies/cities over the period of 2021-2024. The data was analyzed using panel data regression analysis with a Fixed Effect Model. The findings indicate that infrastructure, human capital, and PAD each have a positive and statistically significant effect on economic growth in North Maluku Province. Nevertheless, the magnitude of these effects varies considerably across regions. Areas with a strong mining base and relatively well-developed infrastructure exhibit higher contributions to economic growth compared to regions that rely primarily on trade and agriculture and are characterized by lower human capital quality. Based on these results, this study recommends the implementation of integrated and equitable development policies, including more targeted infrastructure investment, improved access to and quality of education to strengthen human capital, and the optimization of local economic potential to enhance PAD. Such measures are essential to promote more inclusive and balanced economic growth across all regions of North Maluku Province.
Copyright (c) 2026 Liong Finox Konu, Teddy Ch. Leasiwal, Jopie Tamtelahitu https://creativecommons.org/licenses/by-sa/4.0
Strategic Pathways for MSME Development Through Business Legality and Halal Certification: Evidence from Ambon City
This study examines the internal and external factors influencing the development of Micro, Small, and Medium Enterprises (MSMEs) in Ambon City, with particular attention to business legality through the Business Identification Number (Nomor Induk Berusaha, NIB) and halal product certification. A qualitative, descriptive-analytical approach was employed, drawing on in-depth interviews, observations, and document analysis involving 20 informants comprising MSME actors and relevant stakeholders. The findings indicate that internal motivation, awareness of legal compliance, and commitment to halal principles constitute key strengths. In contrast, limited access to capital, low administrative literacy, and reliance on external facilitators emerge as significant internal constraints. Externally, free NIB registration and halal certification programs, mentoring initiatives, and improved access to financing and markets present substantial opportunities. However, these opportunities are tempered by challenges such as limited availability of halal raw materials and technical barriers associated with digital systems. A weighted SWOT analysis (Internal Factor Analysis Summary, IFAS and External Factor Analysis Summary, EFAS) identifies four strategic directions: (1) accelerating business legality and halal certification (S-O); (2) strengthening internal capacity through integrated mentoring (W-O); (3) mitigating external threats through internal discipline and regulatory adaptation (S-T); and (4) adopting defensive strategies based on business scale adjustment (W-T). The study concludes that integrating NIB registration with halal certification can enhance MSME competitiveness, expand market access, and support long-term sustainability in Ambon City.
Copyright (c) 2026 Fadly Usman, Djufri R Pattilouw, Hendri D Hahury https://creativecommons.org/licenses/by-sa/4.0
The Role of Land Transportation in The Economic Development of Underdeveloped Villages in West Seram Regency: Bridging Isolation
This study examines the role of land transportation infrastructure in the economic development of underdeveloped villages in West Seram Regency, with particular attention to household dynamics, gender dimensions, and social capital. Employing a descriptive qualitative approach, data were collected through semi-structured interviews, participatory observation, and document analysis in three underdeveloped villages in Elpaputih District: Ahiolo Village, Abio Village, and Watui Village. The findings indicate that severely deteriorated road conditions, the absence of public transportation, and high vulnerability to weather-related disruptions have resulted in geographic isolation that reinforces a high-cost economy. High logistics costs, ranging from 14-34% of household income, significantly reduce profit margins, constrain market access, and intensify dependence on subsistence-based economic activities. Further, gendered impacts are evident, as women disproportionately bear the burden of mobility constraints. At the same time, communities demonstrate resilience through gotong royong (mutual cooperation) and local innovations, such as the use of bamboo rafts. However, these adaptive strategies function as a form of “shock absorber” that unintentionally sustains the status quo of infrastructure failure rather than addressing its structural causes. Policy recommendations include accelerating infrastructure improvement through participatory approaches that leverage local social capital, developing multimodal transportation systems integrating land and river transport, and implementing gender-responsive interventions to enhance women’s economic access. This study concludes that without comprehensive structural interventions, these villages are likely to remain trapped in a locked-in subsistence economy.
Copyright (c) 2026 Yenny Latekay, Muspida, Hendri D Hahury https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Work Discipline And Work Environment On Employee Performance Through Organizational Citizenship Behaviour (Ocb) As A Mediating Variable At The Regional Special Hospital Of Maluku Province
This research was conducted to obtain an explanation regarding the influence of work discipline and work environment on employee performance through Organizational Citizenship Behavior (OCB) as a mediating variable at the Maluku Province Regional Special Hospital. The purpose of this research is to analyze the influence of work discipline and work environment on employee performance and the role of organizational citizenship behavior (OCB) as a mediating variable. This research uses quantitative research. This research uses smartPLS version 4 software, the data collection instrument is a questionnaire measured using a Likert scale. This study had a sample of 100 respondents, namely employees of the Maluku Province Regional Special Hospital. The results of this research show that Work Discipline has no significant effect on employee performance with a p value of 0.709 > 0.05, the Work Environment has a significant effect on Employee Performance with a p value of 0.000 < 0.05, Organizational Citizenship Behavior has no significant effect on Employee Performance with a p value of 0.358 > 0.05, Work Discipline has a significant effect on Organizational Citizenship Behavior with a p value of 0.000 < 0.05, Work Environment has a significant effect on Organizational Citizenship Behavior with a p value of 0.000 < 0.05, Organizational Citizenship Behavior does not mediate between Work Discipline and Employee Performance with a p value 0.378 > 0.05, Organizational Citizenship Behavior does not mediate between the Work Environment and Employee Performance at the Regional Special Hospital of Maluku Province.
Copyright (c) 2026 Brian A. Tetelepta, Conchita V Latupapua, Agustina Risambessy https://creativecommons.org/licenses/by-sa/4.0
The The Mediating Role of Employee Engagement in the Relationship between Transformational and Transactional Leadership and Organizational Commitment
This study aims to examine the effects of transformational and transactional leadership on organizational commitment, with employee engagement as a mediating variable at PT Charoen Pokphand Indonesia Tbk, Bima, West Nusa Tenggara. A quantitative approach was employed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method. Data were collected through questionnaires distributed to 99 employees and analyzed using SmartPLS software. The results indicate that transformational leadership has a positive and significant effect on organizational commitment and employee engagement, while transactional leadership has a positive and significant effect on employee engagement but does not significantly affect organizational commitment. Furthermore, employee engagement has a positive and significant effect on organizational commitment but does not significantly mediate the relationship between transformational and transactional leadership and organizational commitment. These findings suggest that organizational commitment is more strongly influenced by the direct effects of leadership, particularly transformational leadership, rather than through the mediating role of employee engagement. This study contributes to the organizational behavior literature and provides practical implications for organizations in determining effective leadership styles to enhance employee commitment.
Copyright (c) 2026 Karmilaturrahman, Pardiman, Ahmad Subhan Mahardani https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Accounting Information Systems In Managing Education Unit Operational Assistance Funds (Bosp) Using E-Rkas At Smp Negeri 12 Buru
This study aims to analyze the implementation of the Accounting Information System (AIS) in the Education Unit Operational Assistance (BOSP) fund management cycle at SMP Negeri 12 Buru, which includes the planning, implementation, and evaluation stages using the e-RKAS application. The research method used is descriptive qualitative with data collection techniques through in-depth interviews, participatory observation, and documentation studies. The results show that the planning stage is carried out through the preparation of e-RKAS based on the results of the School Self-Evaluation (EDS) and the educational profile. In the implementation stage, fund management has integrated manual and digital bookkeeping systems through the ARKAS application in accordance with the regulations of the Minister of Education, Culture, Research, and Technology No. 63 of 2022. Evaluations are conducted periodically to ensure transparency and accountability to stakeholders. Although this digital system improves administrative efficiency, the main obstacles identified are limited human resource technological competency and the stability of internet infrastructure at the research location. This study recommends the need for ongoing training for the BOSP management team to optimize the system..
Copyright (c) 2026 Trisna Prasetyaningrum, Christina Sososutiksno, Dwi Haryanti https://creativecommons.org/licenses/by-sa/4.0
Determinants of Economic Growth in South Buru District
Economic growth is a complex phenomenon influenced not only by conventional economic factors, such as investment and labor availability, but also by non-economic determinants, including education levels, health conditions, and other social variables. This study aims to analyze the effects of labor, regional government expenditure, and electricity production on economic growth in South Buru Regency. An explanatory quantitative research method was employed in this study. Data were collected through a literature review of relevant secondary sources. The data were analyzed using multiple linear regression analysis. The results indicate that labor has a positive and statistically significant effect on economic growth. Regional government expenditure also has a positive and statistically significant effect on economic growth. Likewise, electricity production has a positive and statistically significant effect on economic growth. Simultaneously, labor, regional government expenditure, and electricity production are shown to be key factors influencing the dynamics of economic growth in South Buru Regency
Copyright (c) 2026 Sabar Wael, Dientje Rumerang, Yerimias Manuhutu https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Tourist Experience And Travel Motivation On Revisit Intention At Goa Lawah Natural Tourism, West Lombok Regency
This study aims to analyze the effect of tourist experience and travel motivation on revisit intention among tourists at Goa Lawah Nature Tourism, West Lombok Regency. This research employs a quantitative approach with an associative research design involving 100 respondents who are tourists who have previously visited Goa Lawah Nature Tourism, West Lombok Regency. The sampling technique used was purposive sampling, and the data were analyzed using Partial Least Square–Structural Equation Modeling (PLS-SEM). The results show that tourist experience has a positive and significant effect on revisit intention, with a coefficient of 0.516, a t-statistic value of 5.433, and a p-value of 0.000. In addition, travel motivation also has a positive and significant effect on revisit intention, with a coefficient of 0.417, a t-statistic value of 3.965, and a p-value of 0.000. These findings indicate that enjoyable, comfortable, and memorable tourism experiences, as well as tourists’ motivation for relaxation, entertainment, and seeking new experiences, play an important role in encouraging revisit intention. Therefore, improving the quality of tourist experiences and fulfilling tourists’ travel motivations are key strategies to enhance tourist loyalty and ensure the sustainability of Goa Lawah Nature Tourism in West Lombok Regency
Copyright (c) 2026 Juandika Setiananda, Lalu Muhammad Furkan https://creativecommons.org/licenses/by-sa/4.0
Action Learning To Improve Students' Green Leadership Abilities
The challenges of environmental degradation and global climate change demand a transformation of leadership paradigms in higher education institutions, particularly in management education. This study aims to analyze the influence of student involvement in the Green Leadership in Action program—an Action Learning-based initiative—on the development of sustainable leadership competencies in the Undergraduate Management Study Program at Tadulako University. Methods: This study used a descriptive and inferential quantitative approach, involving 50 students as respondents through a purposive sampling technique. The research instrument was a closed-ended questionnaire measuring five competency dimensions: green vision, sustainable innovation, cross-team collaboration, social responsibility, and environmental ethics. Results: The results of data analysis using the Pearson correlation test showed a strong positive relationship between student involvement and Green Leadership competencies (r = 0.77). Furthermore, a simple linear regression test confirmed the significant influence of the Action Learning variable on the formation of green leadership (F = 72.696; p < 0.001). Descriptively, the cross-team collaboration dimension recorded the highest achievement, while the team reflection and environmental ethics indicators scored the lowest. Implication: These findings provide academic legitimacy that action-based learning is effective in internalizing sustainability values, but institutions need to strengthen the structure of reflection and the moral-affective dimension to balance physical action with wisdom.
Copyright (c) 2026 Khusnul Hotimah, Alen William Fredrick, Harnida Wahyuni Adda, Risnawati Risnawati , Wiri Wirastuti https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Factors Affecting Safety Satisfaction And Performance
This study aims to analyze the factors influencing safety/security satisfaction and safety performance in the SPAM WOSUSOKAS pipeline construction project. Specifically, it examines the effects of work equipment and environmental factors, human behavior, and organizational climate on safety/security satisfaction, as well as the effects of safety/security satisfaction and job satisfaction on safety performance. A quantitative approach with a causal research design was employed. Data were collected through a structured questionnaire using a census method involving 489 project workers. The data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS software. The results indicate that work equipment and environmental factors, human behavior, and organizational climate have positive and significant effects on safety/security satisfaction. Furthermore, safety/security satisfaction and job satisfaction significantly and positively affect safety performance. These findings suggest that improving safety performance requires an integrated approach that emphasizes safe work equipment and environments, compliance with safety procedures, and a safety-oriented organizational climate. This study provides empirical evidence and practical implications for enhancing occupational safety management in high-risk infrastructure construction projects.
Copyright (c) 2026 Ayu Mutiara, Hunik Sri Runing Sawitri https://creativecommons.org/licenses/by-sa/4.0
The Effect of Interactive WordWall Media on Early Reading Ability Slow Learner Students
This study examines the effect of using interactive WordWall media on the early reading ability of Grade II slow learner students in elementary school. Employing a quasi-experimental design with pretest-posttest control group, 40 slow learner students were divided equally into experiment and control groups. The experimental group received instruction using WordWall interactive activities, while the control group received conventional reading instruction. Data were collected via standardized reading fluency and comprehension tests, observation checklists, and student interviews. Results showed that the experimental group exhibited significantly greater improvements in reading ability (fluency, word recognition, and comprehension) compared to the control group (p < 0.05). The effect size (Cohen’s d) was medium to large, indicating a practically meaningful impact. Compared with prior studies in Indonesia and abroad that used WordWall or other gamified media, our findings confirm and extend evidence that interactive media can support reading development especially for weaker learners. This research contributes novelty by focusing specifically on slow learner students in lower primary reading and demonstrates that WordWall—previously used predominantly for vocabulary or language learning—can be adapted for reading remediation. Implications for educational practice and future longitudinal studies are discussed.
Copyright (c) 2026 Sunarni, Bayu Pamungkas https://creativecommons.org/licenses/by-sa/4.0
The Influence of Job Insecurity and Job Satisfaction on Organizational Commitment of Female Contract Operators in the Weaving Department of PT X, Cimahi City
Direct labor plays an important role in the smooth production process. Textile manufacturing companies located in Cimahi City require skilled human resources to carry out their work. Organizational commitment is an important element in human resource management to achieve organizational goals. Factors that influence organizational commitment are job insecurity and job satisfaction. This study aims to determine the effect of job insecurity and job satisfaction on organizational commitment in female contract operators of the Weaving Department of PT X, both partially and simultaneously. This study uses a quantitative method with multiple regression analysis using SPSS version 27. Data collection methods used in this study are questionnaires and interviews. Respondents in this study were 79 female contract operators of the Weaving Department of PT X. The results of the study indicate that job insecurity does not affect organizational commitment and job satisfaction has a positive effect on organizational commitment. Then, job insecurity and job satisfaction simultaneously have a significant effect on organizational commitment.
Copyright (c) 2026 Jasmine Alya Zahra, Juddy Prabowo https://creativecommons.org/licenses/by-sa/4.0
Attraction, Environment, Quality of Activities, and Convenience as Predictors of Revisit Intention through Tourist Satisfaction of Visitors to Pakuhaji Destination
This study aims to analyze the influence of tourist perception which includesattraction, staff service, facilities, information, environment, quality of activities,and cconvenienceagainst revisit intentiontourists to the Pakuhaji tourist destination viatourist satisfactionThis study used a survey method involving tourists who had visited the Pakuhaji tourist destination at least once. The data analysis technique used wasstructural equation modeling(SEM) using SmartPLS software version 3.0. Based on the results of hypothesis testing, it was found that revisit intention is influenced by attraction, environment, quality of activities, and convenience through tourist satisfaction. The novelty in this study lies in the development of a tourist perception model by incorporating quality of activities and convenience which are hypothesized to tourist satisfaction which has not been found in the context of activity-based tourist destinations in Indonesia. The researchers hope that the findings of this study can contribute to the development of tourist behavior studies and become a consideration for Pakuhaji tourist destination managers in designing strategies that can increase tourist revisit intention.
Copyright (c) 2026 Nadhia Noor Kamila, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
Vendor Selection for Subcontracted Greige Fabric A Case Study of PT X
The limitations of internal production capacity, especially in textile companies, resulted in the company having to implement a greige fabric subcontracting strategy to meet the company's needs. The purpose of this study was to analyze planning, implementation, and evaluation, as well as to analyze improvement efforts in selecting subcontracting vendors using the Analytical Hierarchy Process (AHP) method and assisted by Expert Choice software. The research method used was qualitative with data collection techniques through interviews, observations, and documentation. This study used a purposive sampling technique, and the criteria used in vendor selection were price, quality, delivery accuracy, and quantity accuracy. The results showed that the first priority performance vendor was Cemara vendor with a weight of 41.4% (MS.Excel Processing) 41.4% (Expert Choice Processing), priority 2 was Ajutex vendor with a weight of 32.5% (MS.Excel Processing) 33.1% (Expert Choice Processing), and priority 3 was Daese vendor 26.1% (MS.Excel Processing) 25.5% (Expert Choice Processing). So it can be concluded that the best vendor recommendation for PT. X is Cemara, because Cemara has the highest priority value.
Copyright (c) 2026 Sherli Dwi Setiawati, Eka Ludiya https://creativecommons.org/licenses/by-sa/4.0
The Role of Meaningfulness & Aesthetics in Increasing Revisit Intention with the Theory of Planned Behavior Approach
This study aims to analyze the influence of hedonism, meaningfulness, and aesthetics on the revisit intention of tourists at Sabda Alam Water Park through attitude toward behavior, subjective norm, and perceived behavioral control. This study used a survey method involving 161 respondents who had experience visiting Sabda Alam Water Park. The data analysis technique used was structural equation modeling (SEM) using smartPLS software version 3.0. Based on the results of hypothesis testing, it was found that revisit intention was influenced by meaningfulness and aesthetics through attitude toward behavior. Then, it was found that meaningfulness was an antecedent of revisit intention through subjective norm, and subjective norm also had a positive effect on revisit intention through perceived behavioral control. The novelty of this study is the addition of the core constructs of TPB, namely attitude toward behavior, subjective norm, and perceived behavioral control, which are hypothesized to mediate the relationship between the dimensions of memorable tourism with the dimensions of hedonism, meaningfulness, and aesthetics on revisit intention. The researchers hope that the findings obtained can contribute to future researchers and managers of Sabda Alam Water Park in designing strategies that can increase tourists' revisit intention.
Copyright (c) 2026 Muhammad Zulfi Manhaj Nujumil Ihsan, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
The Impact of Corporate Social Responsibility (CSR) Programs on the Development of MSME Empowerment in the Manufacturing Sector
Corporate Social Responsibility (CSR) has become a strategic instrument for manufacturing firms to address environmental and social challenges while simultaneously supporting the development of Micro, Small, and Medium Enterprises (MSMEs). This study aims to examine the impact of CSR programs on the development and empowerment of MSMEs in the manufacturing sector. A Systematic Literature Review (SLR) approach was employed to synthesize and analyze prior empirical studies published in Scopus-indexed journals between 2019 and 2023. The review process followed a structured protocol, including article identification, screening, eligibility assessment, and qualitative synthesis, resulting in nine highly relevant studies. The findings indicate that CSR implementation in the manufacturing sector positively contributes to MSME empowerment through improved access to resources, enhanced managerial and technical capabilities, increased market opportunities, and strengthened environmental awareness. CSR initiatives focusing on environmental management, energy efficiency, waste reduction, education, and community development were found to play a crucial role in mitigating the negative environmental impacts of manufacturing activities while fostering sustainable MSME growth. Furthermore, institutional pressures—normative, coercive, and mimetic—were identified as significant drivers influencing corporate engagement in CSR practices. Overall, this study highlights that CSR serves not only as a mechanism for corporate accountability but also as a catalyst for inclusive economic development and sustainability. The findings provide valuable insights for policymakers, practitioners, and manufacturing firms in designing effective CSR strategies that support MSME empowerment and promote long-term social, economic, and environmental sustainability.
Copyright (c) 2026 Afiffah Nur Arifin, Nurul Istiqomah, Sarjiyanto https://creativecommons.org/licenses/by-sa/4.0
Innovation And Branding Strategy Of Local Food MSMES To Increase Competitiveness In Kupang City
Objective: This study examines how product innovation and branding strategy influence the competitiveness of local food MSMEs in Kupang City, with e-commerce adoption positioned as a mediating variable. Design/Methods/Approach: A quantitative approach was employed using SEM-PLS based on survey data from 258 local food MSMEs in Kupang City collected through purposive sampling. Findings: Product innovation and branding strategy have positive and significant direct effects on MSME competitiveness. Branding strategy has a strong and significant effect on e-commerce adoption, while product innovation does not. E-commerce adoption does not significantly affect competitiveness and does not mediate the relationships between innovation/branding and competitiveness. Originality/Value: This study integrates product innovation, branding strategy, and e-commerce adoption in a single empirical model for local food MSMEs, providing evidence from an underexplored regional context (Kupang City, East Nusa Tenggara). Practical/Policy implication: MSME development programs should prioritize innovation and branding assistance, while digital interventions should focus on improving digital readiness (skills, logistics, and infrastructure) so e-commerce can contribute effectively.
Copyright (c) 2026 Enike Tje Yustin Dima, Agnes Susanti Indrawati, Maximilianus Paulus Jati Gamatara https://creativecommons.org/licenses/by-sa/4.0
The Role of Green Innovation Capabilities on The Relationship Between Total Quality Management And Sustainability Performance of Small And Medium Manufacturing Industry In Surabaya
This study aims to analyze the structural relationship between Total Quality Management (TQM) and corporate sustainability performance, with green innovation capabilities as a mediating variable, in the manufacturing industry of Small and Medium Enterprises (SMEs) in Surabaya. This study emphasizes the importance of TQM implementation and green innovation capabilities in driving organizational sustainability practices. The research method uses Structural Equation Modeling–Partial Least Squares (SEM-PLS). TQM is measured across four dimensions: product control management, process control management, vendor quality management, and customer relationship improvement. Corporate sustainability performance is measured through three dimensions, namely environmental, economic, and social sustainability, while green innovation capabilities are measured through green product innovation and green process innovation. The results show that TQM practices directly influence corporate sustainability performance across all dimensions and act as an antecedent of green innovation capabilities. Furthermore, green innovation capabilities are shown to mediate the relationship between TQM practices and corporate sustainability performance at both the construct and dimension levels. These findings indicate that TQM can be a holistic approach in improving the sustainability of small and medium industrial companies and building an innovative culture that encourages the creation of a circular social economy.
Copyright (c) 2026 Djojo Diharjo, Risa Watti, Nurul Azizah https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Consumer Interest, Price On Business Development And Sales Of Palembang Songket
Purpose – This study aims to analyze consumer interest, pricing, and business development strategies of songket in Palembang, while also identifying the obstacles in its management. Palembang songket is a highly valuable cultural heritage but faces challenges in maintaining its existence amid modern product competition. The urgency of this research lies in the limited number of studies exploring local cultural values from marketing and business perspectives. The novelty of this study lies in its mixed-method approach, combining buyer and seller perspectives through interviews and surveys. Data were collected through questionnaires distributed to 60 songket consumers in Palembang, as well as interviews with songket business owners. The analysis technique uses a mixed-method approach (interviews and regression testing). The results show that consumer interest is influenced by perceptions of product quality and pricing, along with a positive tendency towards design development that remains rooted in traditional values. The main barriers in managing the songket business include lack of promotion, limited capital, and low artisan regeneration. Although limited to a specific geographical area, this study serves as a strategic reference for policymakers, industry practitioners, and academics in supporting the sustainability of the Palembang songket industry.
Copyright (c) 2026 Hurian Kamela https://creativecommons.org/licenses/by-sa/4.0
Analysis of Village Income Dependence on Funds Government Transfers: A Case Study in Sukandebi Village
This study discusses the phenomenon of Sukandebi Village's income dependence on government transfer funds, which has increased significantly following the implementation of Law Number 6 of 2014 concerning Villages. The purpose of this study is to analyze the level of fiscal dependence of the village during the 2023–2025 period and to identify the factors causing the drastic decline in Village Original Income (PADes). The research employs a quantitative approach with a descriptive case study design, using secondary data derived from the Budget Realization Reports (APBDes and LRA) of Sukandebi Village. Data analysis was conducted through descriptive statistics and the calculation of the fiscal dependence ratio. The results show that the village's fiscal dependence increased from 92.91% in 2023 to 98.65% in 2025, accompanied by a decline in PADes from IDR 71 million (2023) to IDR 13 million (2025). These findings indicate the dominance of transfer funds, which has triggered a flypaper effect, as well as weak asset management and the absence of a Village-Owned Enterprise (BUMDes). The implications of this study emphasize the need for income diversification strategies, optimization of local potential, and capacity building for village officials to achieve sustainable fiscal independence.
Copyright (c) 2026 Anwar Fadly Sitepu, Isnaini Harahap, Sugianto https://creativecommons.org/licenses/by-sa/4.0
Dynamics of Productive Zakat Implementation in Empowering MSMEs Mustahik: A Case Study of BAZNAS Palangka Raya City
Productive zakat is an important instrument in empowering Micro, Small, and Medium Enterprises (MSMEs), especially for those entitled to receive aid (mustahik) who face limitations in capital, business facilities, and managerial capacity. However, at the local level, the implementation of the productive zakat program still faces various institutional and operational challenges. This study aims to analyze the dynamics of productive zakat implementation in empowering MSMEs entitled to receive aid through a case study of BAZNAS Palangka Raya City. This study uses a qualitative approach with a case study design. Data were collected through in-depth interviews with BAZNAS managers and beneficiary mustahik, supported by field observations and document analysis. The results show that the implementation of productive zakat in Palangka Raya City is mostly realized through the provision of productive assets, such as business carts, Z-Mart facilities, and MSME tents, which contribute to increasing productive activities and initial income of mustahik. However, program implementation still faces obstacles such as limited human resources, uneven mentoring, and weak post-assistance monitoring, which impacts the sustainability of MSME development. These findings indicate that the implementation of productive zakat still tends to be asset-based and has not been fully integrated with sustainable mentoring and capacity-building mechanisms. Therefore, strengthening institutional capacity and implementing a more comprehensive empowerment approach are crucial to increasing the effectiveness and sustainability of productive zakat programs at the local level
Copyright (c) 2026 Amanda Nur Fatimah, Rofi'i, Arif Mubarok https://creativecommons.org/licenses/by-sa/4.0
Antecedents and Consequences of Hedonic Satisfaction and Eudaimonic Satisfaction of Visitors to the Cianjur Regional Library
This study aims to predict the dimensions of LibQUAL (library personnel, library resources and user services, and facilities and equipment) and self-service behavior as predictors of revisit intention through hedonic satisfaction and eudaimonic satisfaction of visitors to the Cianjur Regional Library. Expectation confirmation theory (ECT) is the basis for developing a conceptual model. This study uses a quantitative approach through a survey method with data collection in the form of questionnaires to 153 library visitors. Data were analyzed using structural equation modeling (SEM) techniques to analyze data with the help of the SmartPLS version 3.0 tool.The results of the study indicate that library personnel, library resources and user services, and facilities and equipment have a positive influence on revisit intention, both directly and indirectly through hedonic satisfaction. Furthermore, self-service behavior has the strongest influence on revisit intention, both directly and indirectly through eudaimonic satisfaction. The findings of this study are expected to contribute to future research and the management of the Cianjur Regional Library in designing strategies that can increase revisit intention. Further research is recommended to consider exploring other predictors of revisit intention.
Copyright (c) 2026 Nisrina Hanifa Azmi, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
Analysis Of The Factors Determining The Success Of Micro, Small And Medium Enterprises (MSMES) In The Halal Industry In Medan City
Purpose: This study aims to analyze the factors determining the success of MSMEs in the halal industry in Medan City. Methods: Using a qualitative approach, the research explores the experiences and strategies of MSME actors in managing their businesses. Results: The findings indicate that the success of halal industry MSMEs is influenced by product innovation, the use of digital technology in marketing, and effective financial management. Government support through training, subsidies, and promotions also plays a significant role in enhancing competitiveness. Other factors, such as strategic business location and halal certification, significantly impact success. Implications: This study is expected to contribute to the development of theories and practices in the halal MSME sector Halal Industry Business Success, MSMEsand serve as a guide for stakeholders in advancing the halal industry in Medan City.
Copyright (c) 2026 Agil Lauchan, Waizul Qarni, Rahmi Syahriza https://creativecommons.org/licenses/by-sa/4.0
Escapism as a Predictor of Revisit Intention through Attitude Toward Behavior
This study aims to examine the influence of scenery and escapism on the revisit intention of tourists at Pangandaran Beach through attitude toward behavior, subjective norms, and perceived behavioral control. This study used a survey method involving 155 respondents who had experience visiting Pangandaran Beach. The data analysis technique used was structural equation modeling (SEM) using smartPLS software version 3.0. Based on the results of the hypothesis testing, it was found that escapism had a positive effect on revisit intention through attitude toward behavior. The novelty of this study is the addition of the escapism variable, which is hypothesized to have a positive effect on revisit intention. The researchers hope that the findings obtained can contribute to future researchers and Pangandaran Beach managers in designing strategies that can increase tourist revisit intention. Future researchers can consider exploring other factors suspected of being able to predict revisit intention.
Copyright (c) 2026 Fitria Noviyanti, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Destination Image, Facilities and Promotion on the Decision to Visit the Mandalika Sport Tourism Area Through Motivation as a Mediating Variable
Mandalika sport tourism faces the challenge of optimizing destination image, facilities, and promotions for post-MotoGP event tourist visit decisions. This study examines the influence of these three factors through motivational mediation using a causal associative quantitative approach. The Mandalika tourist population was purposively sampled with 100 respondents via an online Likert questionnaire. SmartPLS PLS-SEM analysis confirmed the instrument's validity and reliability (AVE>0.50, CR>0.70). The results showed significant direct (β=0.197-0.474, p<0.05) and indirect effects through motivation (0.097-0.173), with a moderate R² (40.6-46.7%). Motivation proved to be the dominant mediator. The conclusion recommends a sustainable strategy for destination management.
Copyright (c) 2026 Maizati Maulidna, Didy Ika Supryadi https://creativecommons.org/licenses/by-sa/4.0
The Critical Role of Social Interaction, Social Trust, and Social Aid in Marketing Subang Regency
This study aims to examine the influence of social environment quality on resident commitment through place attachment and resident satisfaction of Subang Regency residents. This study used a survey method as a research method by determining a sample of 146 respondents. Data analysis was conducted using structural equation modeling (SEM) techniques with the SmartPLS version 3.0 tool. The results of the study indicate that social interaction and social trust influence resident commitment through place attachment. Then, social interaction, social trust, and social aid influence resident commitment through resident satisfaction. The novelty in this study is the addition of social aid which is hypothesized to influence resident commitment and adding resident satisfaction which is hypothesized to influence resident commitment. The researcher hopes that the results of this study can provide benefits for further researchers and the Subang Regency government regarding the design of strategies relevant to improving the quality of these attributes.
Copyright (c) 2026 Tania Julianti, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
Antecedents and Consequences of Eudaimonic Tourism Happiness and Attitude Toward Behavior of Stone Garden Tourists West Bandung Regency
This study aims to analyze the influence of educational, escapist, and aesthetic on revisit intention through eudaimonic tourism happiness and attitude toward behavior of Stone Garden tourists. This study used a quantitative approach with a survey method on 118 Stone Garden tourists. Data were analyzed using structural equation modeling (SEM) with SmartPLS version 3.0. The findings indicate that educational, escapist, and aesthetic have a positive effect on eudaimonic tourism happiness. Eudaimonic tourism happiness influences revisit intention both directly and through attitude toward behavior. In addition, eudaimonic tourism happiness acts as a mediator between escapist and aesthetic on revisit intention. The novelty of this research is the addition of new hypotheses, namely educational and escapist, and attitude toward behavior as additional mediating variables. These findings are expected to contribute to future research and parties involved in the tourism industry to design relevant strategies to improve the quality of these attributes.
Copyright (c) 2026 Alda Tiara Putri, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
Optimization of Employee Performance Management: A Study in Human Resources of Atour Hotel in China
This study aims to optimize the employee performance management system of Atour Hotel Group, a medium-sized hotel chain in China, in order to better align employee behavior with organizational strategy and enhance sustainable competitiveness in the knowledge-based service economy. Many medium-sized service enterprises still rely on traditional appraisal systems characterized by limited indicators, rigid cycles, weak feedback, and low employee participation, which undermine motivation and restrict performance improvement. These challenges are particularly significant in the hotel industry, where service quality depends heavily on employee initiative and collaboration. Using a qualitative case study design, this research employs literature review, in-depth interviews, participant observation, and document analysis to evaluate the effectiveness of Atour’s existing system. The findings indicate weak strategic alignment, overly simplified performance indicators, insufficient continuous feedback, and poor integration between appraisal results and incentives, training, and career development. As a result, employee performance tends to be compliance-driven, service innovation is limited, and high-performing employees show relatively high turnover. Drawing on performance management theory, goal-setting theory, and self-determination theory, the study proposes a practical and theory-based performance management framework tailored to medium-sized service organizations. The proposed system emphasizes participatory SMART goal setting, multidimensional indicators based on the Balanced Scorecard, regular performance communication, transparent evaluation procedures, and differentiated reward and development mechanisms. A participatory, fair, and development-oriented system can enhance employee motivation, engagement, and service quality, thereby reducing turnover and supporting the achievement of organizational strategic objectives. These findings provide practical guidance for hotels and other service enterprises seeking to transform performance management into a strategic driver of employee development and organizational success.
Copyright (c) 2026 Zhao Chunying, Ni Made Ary Widiastini, Fridayana Yudiaatmaja https://creativecommons.org/licenses/by-sa/4.0
The Analysis of the Effect of Perceived Marketing Mix and STP Strategies on Customer Satisfaction: A Case Study of Heytea in China
The rapid growth of China’s new-style tea beverage industry has intensified market competition, making customer satisfaction a crucial determinant of business sustainability. In this highly dynamic environment, tea beverage brands must not only adopt effective marketing strategies but also ensure that their strategic and operational decisions align with customer expectations. This study aims to examine the effect of perceived marketing mix and Segmentation, Targeting, and Positioning (STP) strategies on customer satisfaction, using HEYTEA as a case study in China.This research adopts a quantitative approach and collects primary data through a structured questionnaire distributed to HEYTEA customers. A total of 200 usable responses were analyzed using SPSS. The marketing mix variable was measured using 13 indicators based on the 7Ps framework, STP strategy was measured using 6 indicators, and customer satisfaction was measured using 5 indicators. Data analysis techniques included descriptive statistics, validity and reliability tests, classical assumption tests, multiple regression analysis, and hypothesis testing using t-tests and F-tests.The results indicate that both perceived marketing mix and STP strategies have a positive and significant effect on customer satisfaction. The marketing mix demonstrates a stronger influence, suggesting that product quality, service processes, store atmosphere, pricing fairness, and promotional effectiveness play a dominant role in shaping customer satisfaction. Meanwhile, STP strategies also significantly affect satisfaction, highlighting the importance of accurate market segmentation, focused targeting, and clear brand positioning in meeting customer needs and expectations. This study contributes theoretically by integrating marketing mix and STP strategies into a single empirical model to explain customer satisfaction in the context of China’s tea beverage industry. Practically, the findings provide valuable insights for HEYTEA’s management in refining marketing strategies to enhance customer satisfaction and maintain competitive advantage in an increasingly saturated market.
Copyright (c) 2026 Lu Ao, Trianasari, Ni Made Ary Widiastini https://creativecommons.org/licenses/by-sa/4.0
The Influence of Financial Literacy and Digital Financial Competency on Advanced consumption of Student Behavior: The Mediating Role of Self-Control in Wuhan University of Technology in China
The rapid expansion of the digital economy and fintech infrastructure has fundamentally restructured the consumption patterns of university students, leading to a rise in credit-enabled advanced consumption. This research aims to investigate the determinants of advanced consumption behavior by integrating cognitive financial assets and psychological self-regulation mechanisms. Specifically, the study examines the influence of financial literacy and digital financial competency on advanced consumption, with self-control serving as a potential mediating variable. A quantitative research design was employed, utilizing Structural Equation Modeling (SEM) to analyze data collected from university students. The empirical results demonstrate that both financial literacy and digital financial competency exert a significant negative influence on advanced consumption behavior. Notably, digital financial competency emerged as a more potent predictor, suggesting that in a platform-mediated economy, the ability to navigate digital choice architecture is a critical deterrent to excessive spending. Furthermore, the analysis reveals that self- control significantly mediates the relationship between these financial capabilities and consumption outcomes. Approximately 39% of the impact of financial knowledge on reducing debt-funded consumption is transmitted through the strengthening of internal regulatory mechanisms.These findings underscore the necessity of a holistic approach to financial education. Beyond traditional numeracy, academic and policy interventions should prioritize critical digital literacy and the development of psychological resilience. Strengthening the "cognitive shield" of digital competency and the "behavioral filter" of self-control is essential to safeguard students from the systemic risks of a frictionless credit environment and to ensure long-term financial well-being in the digital era.
Copyright (c) 2026 Houbianbian, Fridayana Yudiaatmaja, Putu Indah Rahmawati https://creativecommons.org/licenses/by-sa/4.0
Implementation of Law Enforcement by the Food Task Force of The Criminal Office of the Police in Tackling Rice Adulty Ahead of National Religious Days
Staple foods, especially rice, are the main needs of the Indonesian people. The availability and stability of rice prices are crucial issues, especially ahead of National Religious Holidays (HBKN), such as Eid al-Fitr, Christmas, and New Year. During these periods, demand for rice increases significantly, while distribution is often disrupted by hoarding, speculation, and the circulation of rice that does not meet quality standards. The purpose of this study is to assess the extent of the implementation of law enforcement against violations of adulterated rice ahead of national religious holidays, the method in this study uses a qualitative descriptive approach. This study shows that ahead of National Religious Holidays (HBKN), the National Police Food Task Force increases supervision and law enforcement against rice Bapokting practices through distribution monitoring, warehouse inspections, market operations, and counseling to business actors. Law enforcement is carried out preventively and repressively, but its effectiveness is still limited by administrative constraints, limited personnel, and the level of compliance of business actors. The conclusion of this study is to prevent and take action against the practice of Bapokting, the National Police Food Task Force conducts price and stock monitoring, joint operations, enforcement of administrative and criminal sanctions, and outreach to traders and the public. These steps aim to maintain price stability and rice availability, while increasing legal compliance ahead of HBKN.
Copyright (c) 2026 Muhammad Ardiriansyah, Agus Sumartono https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Parking Management Information System On Performance With Job Satisfaction as A Mediation Variable (Study on Public Roadside Parking Attendants in Pekalongan City)
Roadside parking management plays a strategic role in supporting public services and increasing Regional Original Income (PAD). This study aims to analyze the effect of the Parking Management Information System and competence on parking attendant performance, with job satisfaction as a mediating variable. The research method uses a quantitative approach with a survey of 108 parking attendants in Pekalongan City. Data were analyzed using linear regression and mediation tests. The results of the study show that (1) the Parking Management Information System has a positive and significant effect on the performance of public roadside parking attendants in Pekalongan City, (2) Competence has a positive and significant effect on the performance of public roadside parking attendants in Pekalongan City, (3) the Parking Management Information System has a positive and significant effect on the job satisfaction of public roadside parking attendants in Pekalongan City, (4) Competence does not have a positive and significant effect on the job satisfaction of public roadside parking attendants in Pekalongan City, (5) Job satisfaction has a positive and significant effect on the performance of public roadside parking attendants in Pekalongan City, (6) Job satisfaction is able to partially mediate the effect of the Parking Management Information System on the performance of parking attendants, and (7) Job satisfaction is able to partially mediate the effect of Competence on the performance of parking attendants.
Copyright (c) 2026 Hari Putra Setiawan https://creativecommons.org/licenses/by-sa/4.0
The Role of Feel, Act, and Price Fairness in Increasing Revisit Intention through Tourist Satisfaction and Trust Wahoo Waterworld Tourists
This study aims to analyze the influence of experiential marketing (sense, feel, act) and price fairness on revisit intention of Wahoo Waterworld tourists through tourist satisfaction and trust using the stimulus–organism–response (SOR) framework. This quantitative study used a survey method on 140 tourists who had visited Wahoo Waterworld, West Bandung Regency, who were selected through purposive sampling. Data were collected using an online questionnaire and analyzed with PLS-SEM using SmartPLS 3.0. The results showed that tourist satisfaction and trust had a positive effect on revisit intention. The feel and act dimensions and price fairness had an indirect effect on revisit intention through tourist satisfaction, while price fairness also had an indirect effect through trust. These findings imply the need for managing emotional experiences, active involvement, and price fairness to increase tourist satisfaction and trust as prerequisites for revisit intention. Future research is recommended to add the think and relate dimensions and test the model on more diverse destinations and tourist segments.
Copyright (c) 2026 Abellya Febriyana, Yadi Ernawadi https://creativecommons.org/licenses/by-sa/4.0
The Effect of Financial Literacy, Lifestyle, and E-Money Use on the Consumptive Behavior of Generation Z As K-Pop Fans in the Greater Bandung Area, With Self-Control as a Moderating Factor
Gen Z in particular may be influenced by the K-Pop craze in Indonesia to engage in more materialistic spending habits. Lifestyles that prioritize consumption, the convenience of online payment systems, and individuals' differing degrees of financial knowledge all contribute to this. With self-control serving as a moderating variable, this research seeks to examine the impact of financial literacy, lifestyle, and e-money use on the consumption behavior of Generation Z K-Pop fans in Greater Bandung. A quantitative approach is used in the study. Through the use of purposive sampling, 202 K-Pop fans from Generation Z in Greater Bandung were surveyed to gather primary data. Partial Least Squares-Structural Equation Modeling (PLS-SEM) was used to do the data analysis. The findings showed that there was a negative and insignificant relationship between financial literacy and consumption habits. Lifestyle and e-money use, on the other hand, dramatically and favorably impacted consumption habits. A lack of self-control does not mitigate the effect of lifestyle and financial literacy on consumption behavior, according to the moderation variable test. The impact of electronic money on spending may be mitigated, nevertheless, via exercise of restraint.
Copyright (c) 2026 Adinda Setiawati, Eka Yulianti https://creativecommons.org/licenses/by-sa/4.0
Applying the Unified Theory of Acceptance and Use of Technology (UTAUT) to Analyze Use Behavior of the Quick Response Code Indonesian Standard (QRIS) Among Generation Z in Bandung
This study aims to analyze the factors influencing the use behavior of Generation Z in using the Quick Response Code Indonesian Standard (QRIS) in Bandung by applying the Unified Theory of Acceptance and Use of Technology (UTAUT) model. A quantitative approach with descriptive and associative research design was employed, using primary data collected through an online questionnaire distributed to 100 Generation Z respondents who actively use QRIS. The research variables consisted of performance expectancy, effort expectancy, social influence, and facilitating conditions as independent variables, and use behavior as the dependent variable. Data were analyzed using multiple linear regression with the support of SPSS, accompanied by validity, reliability, and classical assumption tests. The results indicate that all independent variables simultaneously have a significant effect on use behavior. Partially, performance expectancy, effort expectancy, social influence, and facilitating conditions each show a positive and significant influence on QRIS use behavior, with social influence identified as the most dominant factor. This study concludes that the UTAUT model effectively explains QRIS use behavior among Generation Z in Bandung, where perceived usefulness, ease of use, social influence, and supporting facilities play a crucial role in encouraging sustainable QRIS usage.
Copyright (c) 2026 Angger Cakra Wibisono, Novi Susyani https://creativecommons.org/licenses/by-sa/4.0
Comparative Analysis of Provincial Government Financial Performance on the Island of Java in the Post-Pandemic Period (2021–2024) Based on Financial Ratios
This study examines how provincial governments in Java Island performed financially during the post-pandemic period of 2021–2024 and whether meaningful differences exist across provinces. The study plays a comparative and inter-temporal role by evaluating fiscal capacity and expenditure structure using regional financial ratios derived from Budget Realization Reports of six provincial governments. The data show that fiscal independence and the effectiveness of local own-source revenue generally improved after the pandemic, but large disparities among provinces persist. Dependency on intergovernmental transfers remains structurally significant. The analysis discusses the results through descriptive comparison across provinces and annual trends, focusing on the interaction between revenue recovery and expenditure management. The main finding indicates that post-pandemic fiscal recovery in Java’s provincial governments is driven primarily by revenue performance, while expenditure quality and capital spending structure have not improved proportionally, suggesting that fiscal strengthening has not yet been translated into more development-oriented budget allocation.
Copyright (c) 2026 Ahmad Haetami, Budi Firmansyah https://creativecommons.org/licenses/by-sa/4.0
Product Innovation and Halal Lifestyle Identity: An Ethnographic Study of the Sharia Marketing Strategy of Swarnabhumi Batik Ecoprint MSMEs in the ISEF Event
This study analyzes the sharia marketing strategy of Swarnabhumi MSMEs through the integration of environmentally friendly ecoprint innovations with a halal lifestyle concept at the 2025 Indonesia Sharia Economic Festival (ISEF) event. Using a qualitative ethnographic approach with interviews, observations, and data triangulation. The findings of this study indicate that there was an increase in turnover from 15 million to 20 million thanks to halal certification and business matching at the event. The results of this study provide practical guidance for sharia economic MSMEs to implement halal-certified marketing strategies to be more competitive in the domestic market and exports through events such as the Indonesia Sharia Economic Festival.
Copyright (c) 2026 Nola Rahma Alhamda, Anita Sumelvia Dewi https://creativecommons.org/licenses/by-sa/4.0
Evaluation Of Financial Performance And Governance Of PT. Bank Syariah Indonesia Tbk Using The Risk Based Bank Rating Method
Penelitian ini bertujuan untuk menganalisis tingkat kesehatan PT Bank Syariah Indonesia Tbk (BSI) selama periode 2019–2024 dengan menggunakan metode Risk-Based Bank Rating (RBBR). Penelitian ini menggunakan pendekatan deskriptif kuantitatif dengan data sekunder yang diperoleh dari laporan tahunan dan laporan keuangan PT Bank Syariah Indonesia Tbk yang dipublikasikan melalui Bursa Efek Indonesia. Penilaian tingkat kesehatan bank dilakukan berdasarkan empat aspek utama, yaitu Risk Profile yang diukur melalui rasio Non-Performing Financing (NPF) dan Financing to Deposit Ratio (FDR), Good Corporate Governance (GCG), Earnings yang diukur melalui rasio Return on Assets (ROA), Return on Equity (ROE), dan Beban Operasional terhadap Pendapatan Operasional (BOPO), serta Capital yang diukur melalui Capital Adequacy Ratio (CAR). Hasil penelitian menunjukkan bahwa tingkat kesehatan PT Bank Syariah Indonesia Tbk mengalami peningkatan yang signifikan dan berada pada kategori sangat sehat. Nilai komposit meningkat dari 80% pada tahun 2019 menjadi 97,14% pada periode 2023–2024. Temuan ini menunjukkan bahwa PT Bank Syariah Indonesia Tbk mampu mengelola risiko, menerapkan tata kelola perusahaan yang baik, meningkatkan profitabilitas, serta menjaga kecukupan modal secara berkelanjutan, sehingga mendukung stabilitas dan keberlanjutan kinerja perbankan syariah.
Copyright (c) 2026 Zulia Nur Farida, Taufik Akbar https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Green Accounting,And Environmental, Social, and Governance on Firm Value With Firm Size as a Moderating Variable
This study aims to empirically examine the effect of Green Accounting and Environmental, Social, and Governance (ESG) on Firm Value, with Firm Size as a moderating variable, in mining companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. The population in this study was all mining companies listed on the IDX, with a sampling technique resulting in 32 observational samples. The data analysis method used was Moderated Regression Analysis (MRA) with the assistance of SPSS software. The results of the study indicate that Green Accounting does not have a significant effect on Firm Value with a significance value of 0.951. Conversely, ESG was found to have a positive effect on Firm Value at a significance level of 10% with a value of 0.080. Regarding the moderating role, Firm Size was unable to moderate the effect of Green Accounting on Firm Value (significance value of 0.965). However, Firm Size was proven to moderate the effect of ESG on Firm Value with a negative (weakening) relationship direction at a significance level of 10% (significance value of 0.085). The results of the analysis also show that Firm Size acts as a Quasi Moderator (Pseudo Moderator) in this research model. Simultaneously, this model has a significance value of 0.014 with the ability to explain variations in Firm Value of 26.4% (Adjusted R Square)
Copyright (c) 2026 Dewi Nidia Soepriadi, Christina Sososutiksno, Paul Usmany https://creativecommons.org/licenses/by-sa/4.0
Integration of Halal Literacy and Food Safety Aspects in Elementary School Canteens: A Case Study of Halal Critical Points and a Risk-Based Educational Approach
Elementary school canteens play a vital role in providing daily meals for the school community. However, adherence to halal principles is crucial.ṭHalal safety has not been fully guaranteed, both in terms of ingredients, processes, and packaging. This study aims to identify halal critical points (CCPs) and the level of halal literacy of elementary school students, and formulate risk-based improvements in accordance with the Halal Product Assurance regulation (Law No. 33/2014) and BPOM provisions on food packaging. A qualitative-quantitative research design was used through structured observations, interviews, and halal literacy questionnaires with 5 canteen operators, 120 students, and 3 teachers in Bandung Regency. Risk analysis based on severity × likelihood values ​​resulted in four main CCPs: (1) washing cutlery in the toilet; (2) exposure to flies on food; (3) use of styrofoam for hot food; and (4) low student halal literacy (average score 54.3%). Recommendations for improvement include the establishment of a dedicated cutlery washing zone, vector control, replacing hot packaging with safe materials (PP5/food-grade paper), and halal education.ṭayyib integrated into science learning. This study emphasizes the integration of the halal risk mapping system.ṭayyib in the context of elementary school canteens, which has not been widely implemented before, as well as the proposal of a halal literacy-based education model integrated into the science curriculum to increase halal awareness among students. The results of this study provide a model for halal school canteen practices.ṭrisk-based ayyib that can be implemented in other schools as part of the Healthy School program and supports the National Halal Product Guarantee.
Copyright (c) 2026 Ira Sukmawati Abidin, Neneng Windayani https://creativecommons.org/licenses/by-sa/4.0
The Influence of Lifestyle, Income, and Perception of Paylater Use on Financial Behavior of Gen Z in Mataram City
This study examines the influence of lifestyle, income, and perception of paylater usage on the financial behavior of Gen Z in Mataram City, where the Gen Z population has reached 109,600 people with an increasing paylater trend. The aim is to analyze the influence of these three variables empirically. Using a quantitative associative causality approach with PLS-SEM, the Gen Z population aged 17-28 years was sampled with 120 respondents through proportional purposive sampling per sub-district. The 5-point Likert questionnaire instrument measured 24 indicators, analyzed with SmartPLS including outer/inner models, R², and bootstrapping 5,000 subsamples. The results show that lifestyle has a significant positive effect (β = 0.802, p = 0.027), paylater perception has a significant positive effect (β = 0.754, p = 0.040), while income is insignificant (β = 0.041, p = 0.202), with R² = 64.6%. The conclusion recommends fintech education and lifestyle control for Gen Z's financial stability
Copyright (c) 2026 Husniah Azriani, Burhanudin https://creativecommons.org/licenses/by-sa/4.0
Integrating Relationship and Influencer Marketing to Enhance Repurchase Intention Through the Pillars of Satisfaction and Trust
Purpose: This study aims to analyze the effect of relationship marketing and influencer marketing on repurchase intention with customer satisfaction and customer trust as mediating variables among PT Arminareka Perdana's Umrah pilgrims in Jakarta. Method: This study uses a quantitative approach with a survey design. The research sample consisted of 125 Umrah pilgrim respondents selected using purposive sampling. Data collection was conducted through a structured questionnaire, then analyzed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method to test the relationship between variables. Results: The results show that relationship marketing and influencer marketing have a positive and significant effect on repurchase intention, customer satisfaction, and customer trust. In addition, customer satisfaction and customer trust are proven to mediate the effect of relationship marketing and influencer marketing on repurchase intention. Implications: The findings of this study indicate that the application of relationship marketing strategies and the use of credible influencers can increase pilgrims' satisfaction and trust, which ultimately encourages repeat purchases. The results of this study have practical implications for umrah travel agencies in formulating effective marketing strategies and can serve as a basis for further research by adding different variables or research objects
Copyright (c) 2026 Anik Isniati, Mohamad Rifqy Roosdhani, Ali Ali https://creativecommons.org/licenses/by-sa/4.0
Analysis Of Online Loan Regional Clustering in Indonesia In 2024 Based On Outstanding And Default Rate (TWP90) Using K-Means Clustering
The increase in online lending distribution in Indonesia in 2024 was not accompanied by a uniform level of credit risk across regions. This study aims to categorize online lending regions in Indonesia based on outstanding values ​​and 90-day default rates (TWP90) using a quantitative approach based on the K-Means algorithm. Secondary data from all provinces was analyzed using RapidMiner and evaluated using the Davies–Bouldin Index (DBI). The test results showed a DBI of 0.746 at K=2, 0.376 at K=3, and 0.564 at K=4. Although K=2 yielded the lowest DBI, the K=3 model was chosen because it provided a more informative and policy-relevant risk classification. The clustering resulted in three risk clusters: Low Risk, with outstanding values ​​and TWP90 below average; Medium Risk, with values ​​above average; and High Risk, characterized by a very high TWP90 level despite relatively low outstanding values. These findings confirm the effectiveness of K-Means in mapping online lending risks based on regions and support more precise credit monitoring. Keywords: online loans, K-Means clustering, default risk, outstanding, TWP90.
Copyright (c) 2026 Fina Sherli Wewengkang, Arief Wibowo https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Religiosity And Ease Of Use Of Information Technology On The Decision To Pay Zakat, Infak, And Sedah (Zis) At The National Zakat Amil Agency (Baznas) Of Pekanbaru City
This study aims to analyze the influence of religiosity and ease of use of information technology on the decision to pay zakat, infaq, and alms (ZIS) at the National Zakat Agency (BAZNAS) of Pekanbaru City. The study uses a quantitative approach with a causal method. The study population is all muzakki who pay ZIS through BAZNAS Pekanbaru City, totaling 1,081 people, with a sample of 100 respondents determined using a purposive sampling technique. Data collection was carried out through a questionnaire with a five-level Likert scale. Data analysis used multiple linear regression analysis with the help of the SPSS program version 27.00, which was preceded by validity, reliability, and classical assumption tests. The results of the study indicate that religiosity partially has a positive and significant effect on the decision to pay ZIS, as evidenced by the calculated t value being greater than the t table at a significance level of 5 percent. Ease of use of information technology is also proven to have a positive and significant effect on the decision to pay ZIS. Simultaneously, religiosity and ease of use of information technology significantly influenced the decision to pay ZIS, with a coefficient of determination of 89.9 percent, while the remainder was influenced by other variables outside the research model. These findings indicate that the decision to pay ZIS is the result of the interaction between spiritual motivation, reflected in religiosity, and information technology support that facilitates the payment process. This research is expected to provide consideration for BAZNAS (National Agency for Zakat and National Agency for Zakat Management) in improving its ZIS collection strategy by strengthening religiosity and optimizing digital services.
Copyright (c) 2026 Azizul Fikri, Zulkifli, Mahyarni https://creativecommons.org/licenses/by-sa/4.0
Evaluating Knowledge Management And Business Agility: A Research Of Insights Into Smes Innovation
This study aims to examine the relationship between Organizational Forgetting (OF), Knowledge Management (KM), Business Agility (BA), and Innovation Performance (IP) in SMEs in Batam's food and beverage sector. In Indonesia, SMEs play an important role in economic growth and community welfare, but SMEs players often face challenges in maintaining innovation amid rapidly changing market dynamics. This study uses a quantitative approach by distributing questionnaires to 270 food and beverage SMEs in Batam City. Data analysis was performed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. The results of this study indicate that OF and BA have a significant effect on IP, while KM does not have a significant effect on IP. Furthermore, mediation analysis shows that BA also significantly mediates the relationship between OF and IP, while KM does not play a mediating role. This study emphasizes that the ability of SMEs to release outdated knowledge and adapt quickly to dynamic market changes is more effective than simply relying on the storage of knowledge practices. This study also provides theoretical and practical contributions to SMEs to strengthen competitiveness through the management of organizational forgetting and business agility, as well as to support sustainable innovation, while indicating the need for the development of a more practical role for knowledge management in the context of SMEs in the food and beverage sector.
Copyright (c) 2026 Antony Sentoso, Evy Rahmawati, Dhita Hafizha Asri https://creativecommons.org/licenses/by-sa/4.0
The Influence Of Consumers’ Online Brand-Related Activities (Cobra) On Customers’ Green Brand Awareness: An Empirical Case Study In Solo Raya Region, Indonesia
This study aimed to analyze the influence of Consumers’ Online Brand-Related Activities (COBRA), which included consuming, contributing, and creating, on green brand awareness of environmentally friendly cosmetic products of The Body Shop in the Solo Raya region. This research employed a quantitative approach. Primary data were collected by distributing questionnaires to 220 respondents selected using a purposive sampling technique. Data analysis was conducted using multiple linear regression with the assistance of SPSS version 29. The findings revealed that, partially, consuming, contributing, and creating behaviors had a positive and significant effect on green brand awareness. Simultaneously, the three dimensions of COBRA also demonstrated a significant influence on green brand awareness. These results indicated that the higher the level of consumer engagement in online brand-related activities, both actively and passively, the higher the level of consumer awareness toward green brand. This study provided practical implications for companies in formulating effective digital marketing strategies to enhance green brand awareness through social media platforms.
Copyright (c) 2026 Ebida Zakiya, Kussudyarsana, Imronudin https://creativecommons.org/licenses/by-sa/4.0
Foreign Exchange Exposure and Risk Management Strategies: A Bibliometric Analysis of Global Research Trends (2000-2024)
Research on foreign exchange exposure and risk management strategies has begun to show significant growth over the past two decades. This study aims to map the development of global literature related to foreign exchange exposure through a bibliometric analysis of Scopus-indexed publications from 2000 to 2024. The study population consisted of articles, conference papers, and other scientific publications relevant to the topic. All publications were analyzed using VOSviewer software. Research findings based on bibliometric data show a total of 347 different documents. Publications relevant to this topic have shown a consistent upward trend each year, with the highest number of publications occurring in 2024 with 31 articles. The largest number of authors came from the United States, the United Kingdom, and China. The main results of this study show three important findings. First, research on foreign exchange exposure has experienced significant growth since 2008, in line with increasing global market volatility and the need for companies to implement risk mitigation strategies. Second, the bibliometric visualization identifies seven main research topic clusters: (a) measuring exchange rate exposure, (b) market risk and volatility, (c) hedging strategies using derivative instruments, (d) risk management in multinational corporations, (e) global financial market integration, and (f) the impact of exchange rates on corporate performance. Third, analyses of co-authorship, co-occurrence, bibliographic coupling, and co-citation indicate that research collaboration remains concentrated in developed economies, although contributions from developing countries have begun to increase in recent years. Overall, this study provides a comprehensive overview of the evolution, research focus, and direction of global research development related to foreign exchange exposure and risk management strategies in the context of international economic uncertainty.
Copyright (c) 2026 Della Fauzia Kundari, Imas Purnamasari, Toni Heryana https://creativecommons.org/licenses/by-sa/4.0
The Influence of Training and Work Discipline on the Performance of Human Capital Division Employees at PT XYZ
PT XYZ is a company engaged in the pharmaceutical and health product distribution business. Internal company data shows gaps in training programs and suboptimal employee attendance rates. These conditions indicate the need to evaluate the effectiveness of training and the implementation of work discipline as efforts to improve employee performance. This study aims to determine the effect of training and work discipline on employee performance at PT XYZ. The research method used is a quantitative approach with data collection techniques through interviews and questionnaires. Data analysis was performed using quantitative descriptive and quantitative associative methods with multiple linear regression analysis techniques through data processing using SPSS version 27. There were 41 respondents in this study, consisting of employees from the human capital division at PT XYZ. The results of the study show that: (1) training does not affect the performance of employees in the human capital division at PT XYZ, (2) work discipline has a positive effect on the performance of employees in the human capital division at PT XYZ, and (3) training and work discipline simultaneously affect the performance of employees in the human capital division at PT XYZ. Based on these research results, it can be concluded that the company needs to consistently improve the implementation of work discipline and evaluate training programs to provide tangible contributions to the company's performance.
Copyright (c) 2026 Bintang A. Sentani Lubis, Mochamad Vrans Romi https://creativecommons.org/licenses/by-sa/4.0
The Influence of Social Media Exposure and Influencers on Generation Z's Impulsive Buying of Fast Fashion Through Brand Awareness
This study aims to examine the influence of social media exposure and influencers on impulsive buying among Generation Z in the context of fast fashion products, with brand awareness as a mediating variable. The background of this study is based on the increasing trend of spontaneous purchases triggered by social media content and promotional activities carried out by influencers on social media platforms such as Instagram and TikTok. The research approach used a quantitative method with a survey design. The population for this study was fast fashion product buyers, with a sample size of 130 respondents. Data were obtained using a purposive sampling method, with the criteria being Generation Z aged 18–27 who are active on social media, follow at least one influencer, and have purchased a fast fashion product in the past six months. Data analysis was conducted using the SEMPLS software approach. The results showed that social media exposure and influencers have a direct positive and significant influence on impulsive buying. However, exposure to social media and influencers did not have a positive and significant influence on impulsive buying through brand awareness. Furthermore, brand awareness also did not have a positive and significant influence on impulsive buying. These results indicate that Generation Z tends to make impulsive purchases due to factors other than brand awareness.
Copyright (c) 2026 Ni Made Dwi Yanti, Lalu Edy Herman Mulyono https://creativecommons.org/licenses/by-sa/4.0
The Influence of Content Marketing, Influencer Marketing, and Live Streaming on General Z Fashion Product Purchase Decisions on Tiktok Shop
This study aims to analyze the simultaneous and partial effects of Content Marketing, Influencer Marketing, and Live Streaming on the purchasing decisions of Generation Z (Gen Z) consumers for fashion products on TikTok Shop. Generation Z is recognized as a group that is highly connected to social media and quick to adapt to trends, making TikTok Shop a relevant platform for fashion product marketing. The research employed a quantitative method with a survey approach, involving Gen Z respondents who actively use TikTok Shop to purchase fashion products. The sampling technique used was purposive sampling, with a total sample of 100 respondents. Data were collected through questionnaires and analyzed using multiple linear regression analysis. The results indicate that Content Marketing, which focuses on engaging, creative, and informative content, has a positive and significant effect on Gen Z purchasing decisions. Similarly, Influencer Marketing, through recommendations and the credibility of followed influencers, shows a positive and significant impact. In addition, the Live Streaming feature on TikTok Shop, which offers real-time interaction, product demonstrations, and exclusive promotions, also has a significant influence in encouraging purchases. Simultaneously, these three variables contribute substantially to explaining the variation in Gen Z fashion product purchasing decisions on TikTok Shop. The practical implication of this study is to provide insights for fashion businesses to optimize their digital marketing strategies on TikTok Shop, particularly by leveraging content features, influencer collaborations, and live streaming sessions to increase sales and effectively reach the Gen Z market segment.
Copyright (c) 2026 Nurul Aeni, Lalu Edy Herman Mulyono https://creativecommons.org/licenses/by-sa/4.0
The Role of Deposit Insurance in Microfinance Institutions: A Systematic Literature Review
This study reviews how deposit insurance interacts with the operations, behavior, and stability of microfinance institutions (MFIs). Methods: A systematic literature review (SLR) was conducted using PRISMA-guided screening. Searches were run in five academic databases (Google Scholar, Web of Science, SpringerLink, Taylor & Francis Online, and ScienceDirect) using the string “deposit insurance” AND “microfinance,” producing 625 records. After removing duplicates and applying title/abstract and full-text screening, three studies met the final inclusion criteria and were synthesized. Results: The evidence shows three main patterns: (1) deposit guarantees can increase moral hazard in MFIs with weak governance (as seen in Indonesia’s rural banks), (2) depositor trust, often shaped by perceived safety, can reduce deposit volatility and panic withdrawals (as shown in Gabon), and (3) deposit insurance may shift higher-risk borrowers away from insured banks toward MFIs, changing where risk concentrates in the financial system. Implications: Deposit insurance policy should consider MFIs, not only commercial banks. If protection is extended to MFIs (fully or partly), it should be paired with stronger governance requirements, better supervision, and risk-based pricing to reduce moral hazard while supporting depositor confidence and financial inclusion
Copyright (c) 2026 Suhardiono, Hermanto Siregar https://creativecommons.org/licenses/by-sa/4.0
The Effect of Brand Awareness And Service Quality on Repurchase Intention Through Customer Satisfaction of Mcdonald's Consumers in Semarang
The rapid growth of the fast-food restaurant industry in Indonesia demands effective strategies to maintain consumer loyalty, especially in the face of intense competition and shifting consumer preferences. This study aims to analyze the effect of Brand Awareness and Service Quality on Repurchase Intention with Customer Satisfaction as a mediating variable, focusing on McDonald's consumers in Semarang. Data were collected through a survey of 100 respondents using a purposive sampling technique. Respondents were McDonald's customers who had made at least two purchases in the last three months. Data analysis was conducted using Structural Equation Modeling (SEM) with SmartPLS. The findings show that Brand Awareness has a significant positive effect on Customer Satisfaction (β = 0.386; p = 0.000) but does not directly affect Repurchase Intention (β = 0.093; p = 0.425). Meanwhile, Service Quality significantly influences both Customer Satisfaction (β = 0.429; p = 0.000) and Repurchase Intention (β = 0.140; p = 0.017). Furthermore, Customer Satisfaction itself significantly drives Repurchase Intention (β = 0.307; p = 0.000) and acts as an effective mediator for the influence of both Brand Awareness and Service Quality on Repurchase Intention. This study highlights the key role of Customer Satisfaction as a bridge that connects consumer perceptions of brand and service with repeated purchasing decisions. The results are expected to provide practical input for McDonald's management to strengthen loyalty strategies through service quality improvements and brand reputation management
Copyright (c) 2026 Steven Adibroto Nainggolan, Bogy Febriatmoko https://creativecommons.org/licenses/by-sa/4.0
A Modular Algorithmic Framework for Islamic Inheritance: Integrating Formal Fiqh Principles with Edge Case Calculation
The digitization of Islamic inheritance calculation is dominated by applications focused on settling common cases (masail ammah). The majority of previous research has neither addressed nor provided solutions to specific cases of inheritance distribution. Thus, there is a challenge to develop an inheritance calculation algorithm that addresses exceptional cases within the community. This study develops a modular algorithm framework for the calculation of mawaris fiqh that includes classical mechanisms (harmony, conditions, hajb, distribution of asbabul furud and 'asobah, awl, radd, and interaction of jaddul ikhwah) so that it is not only an application of the inheritance calculator and is accompanied by a transparent pseudocode. The approach taken is normative and translates the rules of mawaris fiqh, which includes exceptional cases, into modular algorithms and object-oriented programs. The algorithm's results are then implemented and tested to ensure consistency and accuracy of the calculations. The system has been proven to be able to handle several special cases, including Umariyyatayn, awl cases, radd without 'asobah, and jaddul ikhwah complex interactions. This study contributes to the standardization of algorithms for mawaris fiqh, including classical mechanism rules with exceptional cases, an explicit modular architecture based on fiqh stages, and formal pseudocode to ensure future maintenance. This framework provides a transparent alternative to the black-box LLM trend and can be the foundation for an Islamic inheritance system algorithm that can be examined and improved.
Copyright (c) 2026 Irfanun Nisa Tsalis Hantanty, Any Meilani, Muhammad Anis, Tirto Prayitno https://creativecommons.org/licenses/by-sa/4.0
Service Quality as a Strategic Driver of Competitive Advantage: A SERVQUAL-Based Empirical Study in the Steel Industry
This study aims to evaluate differences in digital-based service quality that can be used as a competitive advantage in the B2B steelmaking industry, focusing on a case study of PT Ravana Jaya. This study examines the dimensions of responsiveness, reliability, and assurance within the SERVQUAL framework and their influence on repeat orders from customers. The method applied is a descriptive qualitative approach through in-depth interviews with five key informants, operational observations, and analysis of internal company documents during the period from August to September 2025, using the data analysis model from Miles and Huberman. The research findings indicate that there are significant differences in the responsiveness dimension due to limited digital readiness of services, as seen from the reliance on manual communication without a CRM system or customer portal. This study emphasizes that digital service responsiveness plays a role as an important indicator of customer loyalty and competitive advantage in the medium-sized steel fabrication sector. From a practical perspective, these results emphasize the importance of integrating CRM and real-time digital services as a strategy to increase competitiveness sustainably.
Copyright (c) 2026 Sabrina Ghusyi Nova, Sukaris https://creativecommons.org/licenses/by-sa/4.0
The Role of Brand Image and Product Innovation on Purchase Decisions Ades Bootled Water: The Mediating Effect of Customer Satisfaction (Study in Semarang City)
This study examines the rapidly growing Indonesian bottled water industry driven by health awareness and urbanization, where brands like Ades face intense competition that demands strong Brand Image and product innovation. The objective is to analyze their influence on Semarang consumers' purchasing decisions with customer satisfaction as an intervening factor, using a quantitative survey method on an infinite population via incidental sampling (119 respondents), a 5-point Likert scale online questionnaire, and PLS-SEM analysis in SmartPLS 4. The results show that Brand Image (path coefficient 0.486, p<0.05) and product innovation (0.386, p<0.05) have a positive and significant effect on customer satisfaction and purchase decisions directly, while customer satisfaction has a weak direct effect (0.139, p=0.041); mediation is not significant (p>0.05), with the model explaining 78.7% of the variance. In conclusion, direct perceptions of Brand Image and innovation are the main drivers of purchasing everyday products like Ades, exceeding the mediating role of satisfaction.
Copyright (c) 2026 Muhammad Sufi Ali Imran https://creativecommons.org/licenses/by-sa/4.0
The Influence of Halal Certification and BPOM Distribution Permit on Purchase Intention of Snack Food Products (Pureats Brand Study)
Indonesian consumers' awareness of halal food and food safety is increasing, especially among young parents who choose children's snacks, driven by the USD 184 billion halal market (2021-2022). This study aims to analyze the influence of halal certification and BPOM distribution permit on purchase intention of Pureats products in Greater Jakarta. Using a quantitative explanatory approach with purposive sampling of 100 parents aged 25-40 years with children aged 1-5 years, primary data from Likert scale questionnaires were analyzed using multiple linear regression via SPSS, including validity, reliability, normality, t, F, and R² tests. The results showed that halal certification (β = 0.342, p = 0.016) and BPOM permit (β = 0.439, p = 0.000) had a significant positive effect partially and simultaneously (F = 24.418, p = 0.000), with R² = 33.5%. The conclusion states that both factors shape consumer trust, it is recommended to highlight labels on packaging for marketing strategies.
Copyright (c) 2026 Anisa Susanti, Nurliya Apriyana https://creativecommons.org/licenses/by-sa/4.0
The Influence of Electronic Word of Mouth (E-WOM) on Self-Control-Moderated Purchasing Decisions
The rapid growth of e-commerce in Indonesia, driven by digital technology and social media, has elevated Electronic Word of Mouth (E-WOM) as a key influencer of consumer purchase decisions, although moderated by psychological factors such as self-control. This study aims to analyze E-WOM's effect on purchase decisions moderated by self-control among Indonesian e-commerce users. Employing a quantitative causal-explanatory design, data were collected via Likert-scale questionnaires from 100 purposive respondents and analyzed using SEM-PLS in SmartPLS 4. Results reveal E-WOM positively and significantly influences purchase decisions (β=0.373, t=4.207, p=0.000), while self-control negatively moderates this relationship (β=-0.075, t=1.961, p=0.050), weakening E-WOM's impact at higher self-control levels. The model explains 62% variance (R²=0.620). In conclusion, while E-WOM drives purchases, self-control enables rational decision-making, offering implications for ethical e-commerce marketing.
Copyright (c) 2026 Marsyanda Ivalda, Baiq Handayani Rinuastuti https://creativecommons.org/licenses/by-sa/4.0
How Do Productive Zakat Promote MSMEs’ Resilience in Post-Pandemic Era?
The development of Micro, Small, and Medium Enterprises (MSMEs) has faced significant setbacks, particularly due to the COVID-19 pandemic. This study investigates the role of productive zakat in enhancing the resilience of MSMEs through a qualitative descriptive approach. Data were collected via interviews with 24 MSME actors and 3 productive zakat managers. The findings indicate that productive zakat contributes meaningfully to MSME resilience. Furthermore, the study highlights the relevance of human capital theory in business development, emphasizing the importance of skill enhancement and evaluation among MSME actors. The implications of this research support the ongoing resilience of MSMEs in the post-pandemic context and provide valuable insights for policymakers regarding productive zakat.
Copyright (c) 2026 Muhammad Nur Alam Muhajir, mujahidin https://creativecommons.org/licenses/by-sa/4.0
The Relationship between Employment Status, Workload and Social Support on the Performance of Hospital Nurses
Background: Nurse performance is a crucial indicator for determining the quality of healthcare services in hospitals. Poor nurse performance can increase the risk of adverse events and reduce patient and family satisfaction. Nurse performance is influenced by various indicators, including employment status, workload, and social support. Objective: This study aims to identify the correlation between employment status, workload, and social support with the performance of hospital nurses. Method: This study used an analytical observational design with a cross-sectional approach and purposive sampling technique. The study sample used were 84 nurses working at Dr. Adhyatma Regional General Hospital, MPH Semarang. The instrument in this study used a questionnaire. Data analysis used the chi-square test and the Spearman Rank test. Results: Indicates a substantial correlation between employment status and nurse performance (p = 0.024). And there is a substantial correlation between workload and nurse performance (p = 0.007) and there is a substantial correlation between social support and nurse performance (p = 0.005). Conclusion: There is a substantial correlation between employment status, workload, social support and nurse performance, the lighter the workload, the better the nurse's performance and high social support plays a role in improving nurse performance.
Copyright (c) 2026 Dia Safitri, Muhammad Riza Setiawan, Nanik Marfu'ati, Susilo Budi Pratama https://creativecommons.org/licenses/by-sa/4.0
The Influence of Work Life Balance and Work Engagement on Work Productivity with Work Motivation as a Mediating Variable on Employees of the West Nusa Tenggara Province Language Center
This study analyzes the influence of Work Life Balance (WLB) and Work Engagement (WE) on Work Productivity with Work Motivation as a mediating variable in 45 employees of the West Nusa Tenggara Provincial Language Center. The phenomenon of low productivity is caused by the imbalance of work and personal roles amidst the high demands of language development. This type of causal associative research with a quantitative approach using a Likert questionnaire, tested for validity and reliability, and analyzed by multiple regression and the Sobel test via SPSS 27. The population of all employees was used as a census sample. The results show that WLB and WE have a significant positive effect on productivity directly (t>2.019, p<0.05) and indirectly through motivation (Z>1.96, p<0.05), with a high average score (productivity 4.14; motivation 4.17). The conclusion recommends flexible work policies to improve motivation and performance in public organizations
Copyright (c) 2026 M. Rozi Fatwa Ilham, Muttaqillah https://creativecommons.org/licenses/by-sa/4.0
The Influence of Financial Anxiety, Financial Literacy, and Financial Digitalization on the Financial Stability of MSMEs in Mataram City
The financial stability of MSMEs in Mataram City is threatened by financial anxiety, low financial literacy, and suboptimal digitalization, with MSMEs dominating 10,471 micro-business units vulnerable to economic fluctuations. This study aims to examine the effect of financial anxiety, financial literacy, and financial digitalization on the financial stability of MSME actors. Using a causal quantitative design with PLS-SEM, the population of all MSMEs in Mataram (10,471 units), a sample of 120 purposive respondents, a 5-point Likert questionnaire instrument, and SmartPLS 4.0 analysis. The results show that financial literacy has a significant positive effect (coefficient 0.642, p = 0.000), financial anxiety has a significant positive effect (0.157, p = 0.030), while digitalization is insignificant (0.057, p = 0.461), with an R-square of 0.598. The conclusion recommends financial literacy training for the Cooperative Office to increase MSME resilience.
Copyright (c) 2026 Lalu Fahril Dwi Suryadi, Burhanudin https://creativecommons.org/licenses/by-sa/4.0
The Influence of Organizational Culture and Work Involvement on Organizational Commitment Mediated by Job Satisfaction
This study aimed to analyze the influence of organizational culture and work involvement on organizational commitment mediated by job satisfaction. The research used an associative approach with a population of 139 employees of the Demak Regency Regional Health Office. The number of samples is calculated using the Slovin formula so that the number of samples used is 104 employees. Sampling used a purposive sampling technique with the criterion of employee service period of more than 1 year. Data were processed using SPSS software version 23. Data analysis techniques included respondent descriptions, variable descriptions, validity tests, reliability tests, F-tests, R2 tests, t-tests, and Sobel Tests. The results stated that organizational culture has a positive effect on job satisfaction, work involvement has a positive effect on job satisfaction, organizational culture has a positive effect on organizational commitment, work involvement has a positive effect on organizational commitment, and job satisfaction has a positive effect on organizational commitment. Future findings demonstrated that organizational culture has an effect on organizational commitment mediated by job satisfaction, and work involvement has an effect on organizational commitment mediated by job satisfaction.
Copyright (c) 2026 Haerudin, Lie Liana https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Servant Leadership And Person-Organization Fit On Job Satisfaction Mediated By Motivation (Study on OPD Employees in Batang District)
This study aims to analyze the influence of servant leadership and person-organization fit on job satisfaction mediated by motivation. This study uses a quantitative research approach with a population of 67 ASN employees in the Batang District OPD. Data were processed using SPSS software version 24. Data analysis techniques include respondent descriptions, variable descriptions, validity tests, reliability tests, F tests, R2 tests, t tests, and Sobel Tests. The results of the study state that servant leadership has a positive effect on motivation, person-organization fit does not affect motivation, servant leadership has a positive effect on job satisfaction, person-organization fit does not affect job satisfaction, motivation has a positive effect on job satisfaction, motivation mediates the effect of servant leadership on job satisfaction, and motivation does not mediate the effect of person-organization fit on job satisfaction
Copyright (c) 2026 Mutrofin, Lie Liana https://creativecommons.org/licenses/by-sa/4.0
Igniting Productivity: How Transformational Leadership and Motivation Shape Productive Work Behavior at PT. Varindo Lombok Inti
Productive behavior is a crucial factor in determining organizational effectiveness, particularly in labor-intensive companies that rely heavily on human resources. This study aims to examine the effect of transformational leadership behavior and work motivation on productive behavior among employees of PT Varindo Lombok Inti. Transformational leadership is conceptualized as leadership behavior that inspires, motivates, and encourages employees to exceed performance expectations, while work motivation reflects the internal and external drives that influence employees’ willingness to work productively. Productive behavior refers to employees’ attitudes and actions that contribute positively to work efficiency, quality, and organizational goals.This research employs a quantitative approach using a survey method. The population of the study consists of employees of PT Varindo Lombok Inti, with samples selected using a purposive sampling technique based on predetermined criteria. Data were collected through structured questionnaires measured using a Likert scale. The data analysis was conducted using Structural Equation Modeling–Partial Least Squares (SEM-PLS) to test the measurement model and the structural model simultaneously. Prior to hypothesis testing, validity and reliability tests were performed to ensure that the research instruments met the required measurement standards.The results of the study indicate that transformational leadership behavior has a positive and significant effect on productive behavior, suggesting that leaders who demonstrate inspirational motivation, individualized consideration, and intellectual stimulation are able to enhance employees’ productive behavior. In addition, work motivation is found to have a positive and significant effect on productive behavior, indicating that motivated employees tend to show higher levels of responsibility, initiative, and work effectiveness. Simultaneously, transformational leadership behavior and work motivation significantly influence productive behavior. These findings highlight the importance of strengthening leadership practices and employee motivation as strategic efforts to improve productive behavior and organizational performance.
Copyright (c) 2026 Putri Aulia Rahmatin, Abdul Azis Bagis https://creativecommons.org/licenses/by-sa/4.0
The Effect of Operating Cash Flow, Financial Cash Flow, and Debt Level on Stock Return with Company Size as a Moderating Variable
This study aims to examine the effect of operating cash flow, financing cash flow, and debt level on stock returns, with company size as a moderating variable. The approach used is quantitative with a causal research design. The research data consists of secondary data sourced from annual financial reports and closing stock prices of transportation and logistics companies listed on the Indonesia Stock Exchange during the period 2022–2024. Sampling was conducted using purposive sampling, resulting in 60 observations. The data analysis techniques applied include multiple linear regression and Moderated Regression Analysis (MRA). The results show that, partially, operating cash flow, financing cash flow, and debt level do not have a significant effect on stock returns, although simultaneously, these three variables form a significant model. The moderation analysis shows that company size moderates the relationship between operating cash flow and stock returns in a negative direction, while no moderating effect was found for cash flow from financing activities and debt levels. These findings indicate that investors tend to pay more attention to company characteristics and general market perceptions than to short-term financial information when assessing potential stock returns
Copyright (c) 2026 hesty nur aini yustina, Miladiah Kusumaningarti, Putri Awalina https://creativecommons.org/licenses/by-sa/4.0
The Effect Of Organizational Culture And Servant Leadership On Employee Performance Mediated By Organizational Commitment
This study aims to analyze the influence of organizational culture and servant leadership on employee performance mediated by organizational commitment. This study uses a quantitative approach. The population in this study were 78 State Civil Apparatus at the Regional Financial, Revenue, and Asset Management Agency of Batang Regency. Data were collected through questionnaires and analyzed using SPSS software version 24. Data analysis techniques include descriptions of respondents and variables, validity tests, reliability tests, F tests, R2 tests, t tests, and Sobel tests. The results show that organizational culture has a positive effect on organizational commitment, servant leadership has no effect. organizational commitment, organizational culture has a positive effect on employee performance, servant leadership has no effect on employee performance, and organizational commitment has a positive effect on employee performance. In addition, organizational commitment mediates the influence of organizational culture on employee performance and organizational commitment does not mediate the influence of servant leadership on employee performance..
Copyright (c) 2026 Achmat Rofik, Lie Liana https://creativecommons.org/licenses/by-sa/4.0