Jurnal Maneksi (Management Ekonomi Dan Akuntansi)
Jurnal Maneksi (Management Ekonomi Dan Akuntansi) is a journal that provides scientific information about the development of science and technology in the field of accounting and management. The scope of the Maneksi Journal includes: financial accounting, public sector accounting/good governance, management accounting, taxation, management, and administration. Jurnal Maneksi (Management Ekonomi Dan Akuntansi) has been certified as a scientific journal by the Director General of Higher Education, Research, and Technology. Number: 10/C/C3/DT.05.00/2025, as Sinta 4 from Volume 10 No.1 2021 to Volume 14 No.2 2025 (Juni). Jurnal Maneksi (Management Ekonomi Dan Akuntansi) is published four times a year, namely in March, June, September, and December. p-ISSN: 2302-9560 dan e-ISSN: 2597-4599 DOI Prefix 10.31959
THE RELATIONSHIP BETWEEN LEADERSHIP STYLE AND GOVERNMENT APPARATUS PERFORMANCE: AN EMPIRICAL STUDY IN THE DISTRICTS OF TTS, MALAKA, AND KUPANG CITY
Introduction: This study examines the relationship between leadership style and the performance of government apparatus in three regions: Timor Tengah Selatan Regency, Malaka Regency, and Kupang City. Methods: Quantitative data were collected using valid and reliable questionnaires and analyzed statistically using SPSS. Results: The results indicate that leadership style has a positive and significant effect on apparatus performance in all three areas. Effective leadership styles, particularly democratic and transformational styles, enhance employee motivation, discipline, and productivity. Additionally, competency development and training strengthen this relationship. The study highlights the importance of adaptive leadership styles tailored to an organization's characteristics and local culture in enhancing public service quality. Conclusion and suggestion: Practically, the findings suggest enhancing leadership capacity for village heads and government officials to support optimal apparatus performance Keywords: Leadership style, apparatus performance, village government, public service, employee motivation
Copyright (c) 2025 Jhon Sepron D. Liem, Kretisana Jagi, Marselinda Hege, Yunior Nabu, Aplonia Dewi Luruk, Jefry Y. Sabuin https://creativecommons.org/licenses/by/4.0/
THE INFLUENCE OF EMPLOYEE DISCIPLINE ON SERVICE QUALITY AT MAYANG PUBLIC HEALTH CENTER, JEMBER REGENCY
Introduction: The quality of primary healthcare services is largely determined by the behavior of human resources, particularly employee discipline in carrying out tasks. In the context of Mayang Public Health Center, Jember Regency, discipline emerges as a strategic factor, as the high intensity of interactions with patients requires services that are fast, accurate, and professional. This study focuses on analyzing the influence of employee discipline on service quality, based on the assumption that work discipline serves as the foundation influencing ethics, responsiveness, communication, empathy, and professionalism in healthcare services. Methods: A quantitative approach with an ex post facto design was employed. The research population consisted of all 71 employees of Mayang Health Center, with a saturated sample of 71 respondents. Data were collected using a Likert-scale questionnaire and analyzed through simple linear regression to examine the relationship between discipline and service quality. Results: The findings reveal that discipline significantly contributes to service quality with a determination value of 65%, while the remaining 35% is influenced by other factors such as motivation, work environment, and competence. The dimensions of discipline, ethics, responsiveness, communication, and professionalism were all rated very high, with discipline making the largest contribution to patient satisfaction. Conclusion and Suggestion: Specialization is confirmed as the primary determinant of healthcare service quality, enriching theoretical models of service quality by positioning discipline as a key variable. Practically, the management of health centers should prioritize discipline as a core performance indicator, while local governments are encouraged to strengthen regulations on human resource discipline in healthcare. Keywords: Discipline, Healthcare Services, Human Resources, Public Health Center, Service Quality
Copyright (c) 2025 Irma Oktavianingrum, Yusita Titi Hapsari, Roro Aditya Novi Wardhani3 https://creativecommons.org/licenses/by/4.0/
DIGITAL FORMULATION OF BUSINESS STRATEGIES IN THE TOURISM SECTOR USING 7S MCKINSEY AND WEB-BASED
Introduction: The tourism industry in Indonesia, including Purbalingga, has significant potential as a rapidly growing economic sector. Renowned for its natural beauty, cultural richness, and diverse tourist destinations, Indonesia attracts visitors globally. Purbalingga, in Central Java, offers various attractions such as scenic hills, rivers, waterfalls, historical temples, and rich local traditions, providing a unique tourism experience. However, despite its potential, Purbalingga's tourism industry faces challenges like suboptimal infrastructure, ineffective promotion, and the need for human resource development in tourism services. Developing and strengthening the tourism industry at national and local levels, like Purbalingga, is essential to maximize Indonesia's economic, social, and cultural potential. The urgency lies in adapting to the digital era, especially during the COVID-19 pandemic, which has highlighted the importance of online presence for promotion and distribution. Methods: This study aims to analyze the alignment between D'Las' business goals and the McKinsey 7S Framework components, and to design a suitable digital strategy for the tourism sector. Results: Results show that applying the McKinsey 7S Framework through digital platforms is highly effective in formulating strategies for business digitalization. The framework supports improvements in both hard skills and soft skills, enabling D’Las to optimize internal operations, strengthen service quality, and expand market reach. Furthermore, the outcomes include the formulation of concrete and measurable digital strategies, potential Intellectual Property Rights (IPR), and contributions to academic knowledge through publication in a nationally accredited journal. This research provides practical guidelines for SMEs in tourism to adopt digital strategies that strengthen competitiveness and long-term business sustainability. Keywords: Digital Business Strategy Formulation, Tourism, 7S McKinsey
Copyright (c) 2025 Lina Fatimah Lishobrina*, Ade Yanyan Ramdhani, Hindun Afni Al Haya https://creativecommons.org/licenses/by/4.0/
PENGARUH INKLUSI KEUANGAN, EFFISIENSI KEUANGAN DAN PDB PER KAPITA TERHADAP KEBERLANJUTAN KEUANGAN
Introduction: This study makes an original contribution by: (1) focusing the analysis on the heterogeneous Asian context, (2) integrating three key determinants of financial stability into a single model, and (3) examining non-linear effects and differences in outcomes across country groups based on income levels. This study aims to analyze the influence of financial inclusion, financial efficiency, and GDP per capita on the sustainability of financial systems in 36 Asian countries for the period 2015–2024. Methods: This study employs a quantitative approach, utilizing panel data from the Global Financial Development Database (World Bank). The analysis was conducted using Principal Component Analysis (PCA) to form composite variables, followed by Feasible Generalized Least Squares (FGLS) regression to estimate the effects of the independent variables. Results: Financial inclusion (bank branches/ATMs) significantly impacts financial sustainability. Financial efficiency has a significant positive effect on financial sustainability. GDP per capita has a significant positive effect on financial sustainability. Conclusion and suggestion: This study produces several important findings that make significant contributions to the finance and development literature. The analysis shows that financial efficiency, particularly as measured by profitability, has a positive and significant impact on the sustainability of the financial system in the Asian region. The analysis also indicates that GDP per capita has a significant impact on financial sustainability, although with indications of a non-linear relationship. This is expected to become a financial inclusion policy that not only expands access but also maintains financial system stability. Furthermore, the finding of a non-linear relationship between GDP per capita and financial stability can be an important consideration in formulating macroeconomic policies that impact the financial sector. Keywords: Financial Inclusion, Financial Efficiency, GDP per Capita, and Financial Sustainability
Copyright (c) 2025 Dina Anggraenni, A.Khoirul Anam https://creativecommons.org/licenses/by/4.0/
Pengaruh Environmental Performance Terhadap Kinerja Maqashid Syariah Index Dengan Size Perusahaan Sebagai Variabel Moderasi
Introduction: This study aims to examine the influence of environmental performance on the Maqashid Shariah Index (MSI), with firm size serving as a moderating variable. The research is centered on food and beverage companies listed on the Indonesia Sharia Stock Index (ISSI) between 2019 and 2023. This sector was selected due to its notable environmental impact and its vital role in supporting ethical and halal consumption in accordance with Islamic principles. Methods: A quantitative method was employed, utilizing secondary data sourced from annual reports, sustainability reports, and environmental performance ratings published through the PROPER program. The analysis employed Moderated Regression Analysis (MRA) to evaluate both the direct and interaction effects among the variables. Results: The findings reveal that environmental performance has a significant and positive impact on the Maqashid Shariah Index. Furthermore, firm size enhances this relationship, indicating that larger companies that implement strong environmental practices tend to achieve higher MSI scores. This suggests that greater resource availability and organizational visibility contribute to more sustainable outcomes and alignment with Sharia objectives. These results underscore the importance of incorporating environmental responsibility into sharia-compliant business models. This study contributes to the development of Islamic accounting by illustrating how environmental engagement and firm scale interact to support the realization of maqashid shariah goals, providing practical insights for governance and policy design in sharia-based corporate frameworks. Keywords: Keywords: Environmental Performance, Maqashid Shariah Index, Food And Beverage, ISSI, Firm Size
Copyright (c) 2025 Sri Hanifah, Evi Ekawati, Anas Malik https://creativecommons.org/licenses/by/4.0/
DETERMINANTS OF STOCK PRICES VOLATILITY GOOD CORPORATE GOVERNANCE AS A MODERATING VARIABLE
Introduction: Focusing on stock price volatility, this research investigates the roles of trading volume, leverage, and dividend policy, with corporate governance examined as a potential moderator. The main aim is to establish whether corporate governance can reinforce the relationships between the independent variables and stock price volatility. Interest in this topic was triggered by differences in findings in previous studies. The object of this study covers all companies listed on the Indonesia Stock Exchange (IDX) except for the non-cyclical sector, with a research period from 2020 to 2024. Methods: A quantitative research design was applied, drawing secondary data from corporate financial and annual reports, Yahoo Finance, as well as other pertinent sources. The sample was selected based on purposive sampling criteria, which resulted in 72 companies over 5 years of observation, with a total of 360 observations. The data was analyzed using Eviews 13 with Moderated Regression Analysis (MRA). Results: Trading volume had no impact on stock price volatility, while leverage and dividend policy had a significant effect and positive. Meanwhile, the moderation test results showed that corporate governance strengthened the effect of trading volume on stock price volatility. However, corporate governance weakened the effect of leverage and dividend policy on stock price volatility. Keywords: Corporate Governance, Dividend Policy, Leverage, Stock Price Volatility, Trading Volume.
Copyright (c) 2025 Valeria Vivi Silvia, Hadi Santoso https://creativecommons.org/licenses/by/4.0/
MEDIASI FINANCIAL LITERACY DALAM HUBUNGAN FINANCIAL TECHNOLOGY PAYMENT DAN FINANCIAL ATTITUDE TERHADAP CHANGES IN PEOPLE'S FINANCIAL BEHAVIOR DALAM PERSPEKTIF BISNIS ISLAM
Introduction: The development of digital technology, especially fintech payments, has facilitated transactions and made financial management more digital and flexible. This study aims to analyse the role of financial literacy mediation in the relationship between financial technology payment and financial attitudes towards changes in people's economic behaviour, considering the Islamic business perspective. Methods: Using a quantitative approach with the SEM-PLS analysis technique, 100 respondents were surveyed through a Google form using a purposive sampling technique. The results show that fintech payment and financial attitude intentionally increase financial literacy, which then has a positive effect on changes in people's economic behaviour. Results: This study found that financial literacy partially mediates the relationship between fintech payments and financial attitudes, influencing changes in people's financial behaviour. Although the direct influence of fintech payments and financial attitudes on changes in financial behaviour has proven to be more dominant, the mediating role of financial literacy remains significant, which shows that increasing financial literacy encourages wiser and more responsible financial behaviour. From an Islamic perspective, financial literacy acts as a mediator, connecting fintech payments and financial attitudes to change people's financial behaviour by applying sharia principles such as honesty, justice, and the prohibition of usury. Islam's emphasis on business ethics, including transparency and price fairness, is reflected in e-commerce regulations to create a fair and trustworthy digital ecosystem. Keywords: Financial Literacy, Fintech Payment, Financial Attitude, Financial Behaviour, Bisnis Islam.
Copyright (c) 2025 Umi Habibah, Evi Ekawati, Is Susanto https://creativecommons.org/licenses/by/4.0/
PENGARUH STRUKTUR MODAL DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN
Introduction: This study seeks to assess the impact of capital structure and dividend policy on the valuation of mining firms listed on the Indonesia Stock Exchange from 2019 to 2023. This study employs the Debt to Asset Ratio (DAR) and Dividend Payout Ratio (DPR) as independent variables, while Price to Book Value (PBV) functions as the dependent variable. The study population included 81 companies, but the sample size encompassed 14 companies. Methods: The analytical technique utilized was multiple linear regression, performed with SPSS software version 24. The research employed the Purposive Sampling technique, leading to the observation of 14 organizations. Results: The research results revealed that capital structure (DAR) significantly influences firm value, while dividend policy (DPR) does not. However, both variables simultaneously influence firm value. This finding indicates that optimal capital structure management is crucial for increasing firm value, while dividend policy requires an effective strategy in operational and financial management to drive improved performance and profitability. Keywords: Capital Structure, Dividend Policy, Firm Value
Copyright (c) 2025 Pazrin Wiyono, Herlina Rasjid, Rizan Machmud https://creativecommons.org/licenses/by/4.0/
THE INFLUENCE OF CORPORATE GOVERNANCE AND FINANCIAL SUSTAINABILITY ON FIRM VALUE
Introduction: This research focuses on listed companies in the food and beverage industry on the Indonesia Stock Exchange from 2018 to 2023. It examines the relationship between company value, corporate governance, and financial sustainability. Methods: Both factors significantly and positively affect company value, according to the findings of a quantitative study that used multiple linear regression analysis. The contribution of corporate governance, as assessed by the percentage of independent commissioners and the size of the audit committee, is more significant than that of financial sustainability, with the former contributing 8.322 and the latter 1.476, respectively. Results: The results show that the food and beverage industry in Indonesia is distinct from others in terms of financial performance volatility, governance practice consistency, and audit committee. This supports agency theory and a resource-based view. The implications of this study include recommendations for companies to enhance the composition of independent commissioners, strengthen the audit committee's function, and develop effective commodity risk management. Research limitations and suggestions for further studies are also comprehensively discussed. Conclusion: This study concludes that corporate governance and financial sustainability positively and significantly influence company value in the food and beverage sector listed on the Indonesia Stock Exchange from 2018 to 2023. For investors, these findings suggest prioritising the analysis of governance structure as a key indicator before considering long-term financial performance. Suggestion: Expand the research period to 10 years to obtain a more comprehensive picture, add moderating variables such as institutional ownership or CEO characteristics, and conduct comparative studies with other sectors with different characteristics. Expanding the scope of the study to include qualitative interviews with practitioners might uncover a more in-depth understanding of governance implementation at the operational level. Keywords: Corporate Governance, Financial Sustainability, Firm Value
Copyright (c) 2025 Corine Octaviani, A. Khoirul Anam https://creativecommons.org/licenses/by/4.0/
PENGARUH TAX AWARENESS, TAX MORALE, DAN PEER GROUP TERHADAP TAX COMPLIANCE WAJIB PAJAK ORANG PRIBADI DENGAN INTENTION TO COMPLY SEBAGAI VARIABEL MEDIASI
Introduction: This research aims to investigate the many variables influencing tax compliance among individual taxpayers at KPP Pratama Surabaya Rungkut. It will examine the importance of tax awareness, tax morale, and the impact of peer groups, emphasizing the desire to comply as a mediating variable. Methods: This study employed a quantitative methodology, gathering primary data through questionnaires distributed in both online and offline formats to a sample of 100 individual taxpayers registered at KPP Pratama Surabaya Rungkut. Data analysis utilized Partial Least Squares Structural Equation Modeling (PLS-SEM). Results: The results show that being more conscious of taxes and having a strong sense of tax morality both make people more likely to comply, which in turn has a big effect on how well they really do. Simultaneously, peer groups seem to exert little influence on the desire to comply or on actual tax compliance. An in-depth analysis reveals that the desire to comply serves as a mediator in the relationship between tax knowledge and tax compliance (complete mediation) as well as in the relationship between tax morale and tax compliance (partial mediation). The results support the Theory of Planned Behavior, emphasizing that intention serves as a key predictor of actual behavior. This research suggests that enhancing internal motivation via tax education and the development of moral values may be an effective strategy to increase tax compliance among individual taxpayers in metropolitan areas like Surabaya. Keywords: Tax Awareness, Tax Morale, Peer Group, Intention to Comply, Tax Compliance
Copyright (c) 2025 Aishwarya Shafa Zahirah, Dwi Suhartini https://creativecommons.org/licenses/by/4.0/
THE EFFECT OF SELF-EFFICACY AND EXTRINSIC REWARDS ON INNOVATIVE WORK BEHAVIOUR (IWB) MEDIATED BY WORK ENGAGEMENT ON EMPLOYEES AT PERTAMINA IN SUMBAGUT
Introduction: This research aims to examine the impact of Work Engagement on Innovative Work Behaviour (IWB) among PT Pertamina employees in North Sumatra (Sumbagut), mediated by Self-Efficacy and Extrinsic Reward. To address the issues, it is essential to exhibit innovative work behaviour of the complex energy industry, including expectations for efficiency, transparent governance, and sustainable innovation Methods: This study adopts a quantitative methodology via a survey technique via a questionnaire administered to 141 Pertamina employees in Sumbagut. Data analysis was conducted via Structural Equation Modelling (SEM) through AMOS software. Results: The findings indicated that Self-Efficacy and Extrinsic Reward exert a favourable and significant influence on Innovative Work Behaviour, both directly and via the mediation of Work Engagement. This discovery validates the significance of personal self-assurance and external incentives in fostering work engagement and innovative behaviour among employees. Conclusion and suggestion: This research offers a tangible contribution to human resource management in designing strategies to improve employee innovation performance by strengthening internal and external factors and creating a work environment that supports engagement. Keywords: Self-Efficacy, Extrinsic Reward, Work Engagement, Innovative Work Behaviour.
Copyright (c) 2025 Muhammad Syahrul Ramadhan, B. Medina Nilasari, Dita Oki Berliyanti https://creativecommons.org/licenses/by/4.0/
ANALISIS PENGARUH MODAL MANUSIA TERHADAP PERTUMBUHAN EKONOMI REGIONAL DI PROVINSI DAERAH ISTIMEWA YOGYAKARTA
Introduction: This study investigates the impact of education, health, and population on Gross Regional Domestic Product (GRDP) per capita in the Special Region of Yogyakarta during 2015–2024. Grounded in endogenous growth theory and human capital theory, the research highlights the role of investment in education and health as key drivers of sustainable regional development. Methods: The analysis employs multiple linear regression on panel data sourced from the Central Bureau of Statistics (BPS). Education (average years of schooling), health (life expectancy), and population serve as independent variables, while GRDP per capita is used as the dependent variable. Results: Findings indicate that education and health exert a positive and significant effect on GRDP per capita, supporting the human capital framework that links better resources to higher productivity. In contrast, population growth has a negative impact, suggesting that rapid increases in population without proportional employment opportunities reduce per capita income. Conclusion and suggestion: The study concludes that education and health are vital for enhancing economic growth through human capital development, while uncontrolled population growth may hinder per capita income improvement. Therefore, policymakers should prioritize investments in education and healthcare, expand employment opportunities, and implement effective population management. Future research is recommended to include additional variables such as technological innovation, infrastructure, and institutional quality for a more comprehensive analysis of regional economic growth. Keywords: Human Capital, Education, Health, Economic Growth, Population
Copyright (c) 2025 Aprilia Fajriyati, Annis Nurfitriana Nihayah https://creativecommons.org/licenses/by/4.0/
PENGARUH LABEL HALAL DAN PENGETAHUAN PRODUK TERHADAP KEPUTUSAN PEMBELIAN PRODUK KOSMETIK: RELIGIUSITAS SEBAGAI VARIABEL MODERASI
Introduction: This study aims to determine the effect of halal labeling and product knowledge on purchasing decisions with religiosity as a moderating variable for buying halal cosmetic products. Methods: This research uses quantitative methods. The population used in this study was residents of Sukoharjo who had bought cosmetic products. The sampling method used in this research is non-probability sampling with a purposive sampling technique. The analytical tool used is SmartPLS version 3. Results: Halal labeling has a positive and significant effect on purchasing decisions, product knowledge has a positive and significant effect on buying decisions, and religiousness has a positive and significant effect on purchasing decisions. Religiosity does moderate the relationship between halal labelling and purchasing decisions, but it does not moderate the relationship between product knowledge and purchasing decisions. This study explains how halal labeling and product knowledge affect purchasing decisions, and religiosity as a moderating variable strengthens consumers ' decisions in cosmetic purchasing. Keywords: Halal Label, Product Knowledge, Religiosity, Purchasing Decision
Copyright (c) 2025 Diva Febrianto, Datien Eriska Utami https://creativecommons.org/licenses/by/4.0/
PENGARUH KUALITAS PELAYANAN DAN PERSEPSI HARGA TERHADAP LOYALITAS PELANGGAN MELALUI KEPUASAN PELANGGAN SEBAGAI VARIABEL MEDIASI
Introduction: This study aims to analyze the role of customer satisfaction as a mediator between the effects of service quality and price perception on Batik Solo Trans customer loyalty in Surakarta City. Methods: This research uses a quantitative approach. The population in this study was all users of Batik Solo Trans (BST) public transportation services in Surakarta City. Data collection techniques through questionnaires. The data analysis technique used in this research is path analysis. The data were processed using SmartPLS v.3. Results: Service quality has a significant effect on customer satisfaction. Price perception has no significant effect on customer satisfaction. Service quality has a significant impact in customer loyalty. Price perception has no significant effect on customer loyalty. Customer satisfaction has a significant impact in customer loyalty. Customer satisfaction mediates the effect of service quality on customer loyalty. Customer satisfaction does not mediate the impact of price perception on customer loyalty. Keywords: Service Quality, Price Perception, Customer Satisfaction, Customer Loyalty
Copyright (c) 2025 Chotimatul Kusna, Datien Eriska Utami https://creativecommons.org/licenses/by/4.0/
PROMOTIONAL STRATEGY FOR REGIONAL INVESTMENT GROWTH IN JENEPONTO REGENCY
Introduction: This research investigates the investment promotion strategies carried out by the Investment and One-Stop Integrated Services Agency (DPMPTSP) of Jeneponto Regency, focusing on attracting and realizing investments in the renewable energy, tourism, and agricultural sectors. Methods: Adopting a qualitative method with a descriptive design, the study applies thematic analysis framed by two theoretical perspectives: Segmentation, Targeting, and Positioning (STP) and the Theory of Planned Behavior (TPB). Results: The findings reveal that promotional efforts include active engagement in both regional and international investment forums (such as SSIF and Dubai), the preparation of Investment Project Ready to Offer (IPRO) documents, the use of digital channels (official websites and social media platforms), and direct promotional activities through one-on-one meetings. The STP framework identifies and addresses specific investor segments with tailored messages, while TPB helps explain how attitudes, perceived social norms, and behavioral control shape investment intentions. Despite these initiatives, several obstacles remain, including budget limitations, insufficient human resource skills, weak inter-agency coordination, societal resistance, and regulatory uncertainty. Consequently, it is recommended that investment promotion strategies emphasize behavior-oriented approaches, strengthen professionalism, and enhance both regulatory and institutional frameworks. Such measures are expected to make Jeneponto’s investment promotion more effective, integrated, and sustainable in fostering regional economic growth. Keywords: investment promotion, STP (Segmentation, Targeting, Positioning), Theory of Planned Behavior, DPMPTSP, communication strategy, regional development.
Copyright (c) 2025 Adnan Yahya Salam, Arianto, Muh. Akbar https://creativecommons.org/licenses/by/4.0/
PENGARUH KUALITAS SUMBER DAYA MANUSIA DAN PENERAPAN SAK EMKM TERHADAP KUALITAS LAPORAN KEUANGAN
Introduction: The significant increase in MSMEs in Bone Bolango Regency, from 8,172 units in 2021 to 14,600 units in 2024, reflects tremendous economic potential. However, only 1,830 units have achieved financial independence by separating business and personal finances. The main challenge faced is the limitation in preparing financial reports per Financial Accounting Standards for Micro, Small, and Medium Entities (SAK EMKM), which affects the quality of financial information for strategic decision-making. This study aims to analyze the impact of human resource quality in implementing SAK EMKM on the quality of MSME financial reports at the Manpower, Cooperatives, and MSME Office in Bone Bolango Regency. Methods: This research method uses a quantitative approach with a causal design, analyzing 95 respondents from independent MSMEs. Respondents were selected through purposive sampling using the Slovin formula with a 10% error rate. The data analysis method used was Partial Least Squares-based Structural Equation Modeling (PLS-SEM) with the assistance of SmartPLS software to assess the outer and inner models, and to test the hypotheses using the bootstrap technique at a 5% significance level. Results: The results showed that human resource quality positively and significantly affects financial report quality, with a path coefficient of 0.476 and a t-statistic of 4.616 (p<0.05). Meanwhile, the implementation of SAK EMKM also showed a positive and significant effect, with a path coefficient of 0.500 and a t-statistic of 4.907 (p<0.05). Together, these two independent variables explained 89.8% of the variation in MSME financial report quality, indicating excellent predictive power of the model. This study confirms the relevance of Human Capital Theory in the context of MSME accounting and recommends developing accounting training programs in accordance with SAK EMKM and improving the technical capabilities of MSMEs to improve financial report quality. Keywords: Financial Report Quality, Human Resource Quality, SAK EMKM, MSMES
Copyright (c) 2025 Nabila Ramadhani Makalalag, Nilawaty Yusuf, Amir Lukum https://creativecommons.org/licenses/by/4.0/
Analysing the Impact of Self-Efficacy on Employee Performance: The Mediating Role of Work Motivation at Permodalan Nasional Madani, Majalengka Branch 2
Introduction: In the era of increasingly dynamic business competition, employee performance is greatly influenced by psychological factors, including self-efficacy, or the individual's belief in their ability to complete tasks. This study aims to analyze the influence of self-efficacy on employee performance with work motivation as an intervening variable at Permodalan Nasional Madani (PNM) Branch Majalengka 2. Methods: This quantitative research employed the saturated sampling method, administering questionnaires to 50 PNM employees. The Sobel test and multiple regression were used to assess the variables' direct and indirect effects on the data. Results: The research results show that self-efficacy positively and significantly impacts worker performance and their motivation to work. Furthermore, the main finding of this study is that work motivation significantly mediates the relationship between self-efficacy and work motivation. Conclusion and Suggestion: This Research demonstrates that self-efficacy positively and significantly impacts work motivation and employee performance. Employees with high confidence in their abilities tend to be more motivated, leading to improved performance. Work motivation also proves to mediate the relationship between self-efficacy and performance, meaning that high self-efficacy will encourage strong work motivation, ultimately improving employee performance. Therefore, companies should be able to enhance employee self-efficacy through training, coaching, and psychological support to support sustainable performance improvement. Keywords: Self-efficacy, Employee Performance, and Work Motivation
Copyright (c) 2025 Sella Hazizah, Wiwi Hartati, Risdianto https://creativecommons.org/licenses/by/4.0/
WORK FLEXIBILITY AND SATISFACTION: KEY PREDICTORS OF PRODUCTIVITY IN THE WORKPLACE
Introduction: This study explores the influence of Flexible Working Arrangements (FWA) and Job Satisfaction on employee productivity. As workplaces evolve and adapt to post-pandemic conditions, organizations are increasingly implementing flexible work systems to improve efficiency and effectiveness. FWA provides employees the flexibility to manage their work hours and locations, while job satisfaction reflects their contentment with roles, compensation, opportunities for growth, supervision, and workplace relationships. Understanding the impact of these factors is essential for enhancing organizational performance through human resource strategies that prioritize employee well-being and autonomy. Methods: The research employs a quantitative approach, using a descriptive associative method. The study involves 36 employees, using a saturation sampling technique where the entire population is used as the sample. Data were collected through structured questionnaires and analyzed using multiple linear regression with the assistance of SPSS version 22. Results: Findings. The findings show that Flexible Working Arrangements and Job Satisfaction significantly and positively influence employee productivity, both partially and simultaneously. Flexibility in work schedules and locations contributes to improved performance, while job satisfaction arising from positive work conditions and relationships further enhances productivity. These results suggest that adopting flexible work models and fostering job satisfaction are key strategies to improve employee productivity. Organizations aiming to remain adaptive and competitive should consider these aspects in designing modern and responsive work policies. Keywords: Flexible Working Arrangement, Job Satisfaction, Work Productivity
Copyright (c) 2025 Yuni Fadillah, Sari Laelatul Qodriah, Risdianto https://creativecommons.org/licenses/by/4.0/
SELF-LEADERSHIP AND INNOVATIVE WORK BEHAVIOR : THE MEDIATING EFFECT OF CREATIVE SELF-EFFICACY AMONG GOVERNMENT EMPLOYEES IN KESAMBI
Introduction: This study is driven by the inadequate level of inventive engagement among civil servants (PNS) in Kesambi District, as evidenced by their limited of involvement in national public service innovation initiatives, such as the West Java Innovation Competition and the Public Service Innovation Competition (KIPP). Methods: This quantitative study employs questionnaires administered to 53 civil servants, seleted using a saturated sample method. Results: The results indicate that self-leadership has a positve and significant influence on both creative self-efficacy and innovative work behavior. Moreover, creative self-efficacy has a substantial influence on innovative work behavior. This study's principal finding is that creative self-efficacy substantially mediates the connection between self-leadership and innovative work behavior. Conclusion and suggestion: This suggests that civil servants who can self-lead have greater confidence in their creative skills, hence augmenting their inventive conduct in the workplace. Consequently, enhancing self-leadership and creative self-efficacy ought to be a strategic priority in cultivating the capabilities of government personnel. Keywords: Self-Leadership, Creative Self-Efficacy, Innovative Work Behavior.
Copyright (c) 2025 Iroh Maysaroh, Sari Laelatul Qodriah, Risdianto https://creativecommons.org/licenses/by/4.0/
The Role of Self-Efficacy on Innovative Work Behavior Moderated by a Creative Climate
Introduction: This study aims to investigate the influence of self-efficacy on innovative work behavior, with the creative climate serving as a moderating variable. The study was conducted among PT employees. Dok & Perkapalan Kodja Bahari (Persero) Galangan Cirebon, a sector currently facing challenges in promoting employee creativity. Insufficient self-efficacy and an inadequate creative milieu have been recognized as impediments to inventive behavior. Methods: This quantitative study employed a saturated sample of 70 employees, with data collected through questionnaires. The analysis employed Moderated Regression Analysis (MRA) to evaluate the direct impact of self-efficacy on inventive work behavior and to examine the moderating influence of creative climate. Result: The findings demonstrate that self-efficacy exerts a substantial beneficial influence on innovative work behavior. Moreover, a creative climate enhances the correlation between self-efficacy and innovative work behavior, suggesting that a supportive workplace empowers confident people to articulate novel concepts. Conclusion and Suggestion: This study emphasizes the necessity of enhancing individual psychological aspects and the organizational climate to promote innovation within the maritime sector. Keywords: Self-efficacy, Innovative work behavior, Creative climate, Maritime sector
Copyright (c) 2025 Depi Pran Siska, Sari Laelatul Qodriyah, Risdiyanto https://creativecommons.org/licenses/by/4.0/
Pengaruh Viral Marketing Dan User-Generated Content (UGC) Terhadap Purchase Decision Produk Skincare Pada Gen Z Melalui Brand Awareness Sebagai Variabel Mediasi
Introduction: This study examines the influence of viral marketing and user-generated content (UGC) on the purchase decisions of skincare products among Generation Z, with brand awareness as a mediating variable. Generation Z was chosen as the focus of the study because of their active involvement in social media and their strong influence in the beauty market. Their purchasing behavior is often shaped by digital interactions, making them a relevant target group to understand how marketing strategies affect decision-making. Methods: A quantitative approach was applied using a survey method. The sample consisted of 123 respondents from Generation Z who are active skincare product users. Data collection was conducted through a structured questionnaire designed to measure viral marketing, UGC, brand awareness, and purchase decisions. The data were then analyzed using Structural Equation Modeling (SEM) with Smart PLS 4 software. The analysis included testing the measurement model for validity and reliability as well as evaluating the structural model to test hypotheses and mediation effects. Results: The findings indicate that both viral marketing and UGC have significant positive effects on brand awareness and purchase decisions. Additionally, the results confirm that brand awareness significantly mediates the relationship between viral marketing, UGC, and purchase decisions. These results suggest that the visibility and recognition of a brand play a crucial role in strengthening the impact of digital marketing strategies. Overall, the study emphasizes the importance of content-driven campaigns and strong brand positioning in influencing the skincare purchase decisions of Generation Z consumers. Keywords: Viral Marketing, User Generated Content, Brand Awareness, Purchase Decision, Gen Z.
Copyright (c) 2025 Salsabila Najichavida Putri, Nurul Komaryatin https://creativecommons.org/licenses/by/4.0/
WORK MOTIVATION AND EMPLOYEE ENGAGEMENT AS PREDICTORS OF TURNOVER INTENTION
Introduction: This study examines the relationship between the intention to leave among PT X workers and their degrees of job motivation and engagement. The company has recently experienced a high turnover rate, which has challenged operational consistency and increased hiring costs. Turnover intention denotes an employee's inclination to quit their position, shaped by several organizational and psychological factors. Intrinsic and extrinsic job motivation, along with employee engagement —defined as the emotional and intellectual involvement of employees in their work —are considered to impact this purpose significantly. Methods: A quantitative explanatory research methodology was employed, utilizing a saturated sample of 234 employees. Questionnaires gathered data. Questionnaire data were gathered, and multiple linear regression analysis was performed using SPSS.. Assessments of validity and reliability were essential to the instrument procedure, followed by t-tests and F-tests performed at a 5% significance level to evaluate the hypothesis. Results: The data indicate that there is no statistically significant relationship between employee engagement and the intention to leave. Conversely, employment motivation demonstrates a substantial negative correlation, suggesting that as an employee's drive escalates, their likelihood of leaving the firm decreases. Turnover intention is significantly affected by job motivation and employee engagement. The results indicate that while employee involvement is crucial, reducing turnover intentions may be more effectively achieved by enhancing job motivation. To retain talent and minimize employee turnover, organizations are advised to adopt incentive methods, including career progression, recognition, and equitable compensation frameworks. Keywords: Employee Engagement, Work Motivation, Turnover Intention
Copyright (c) 2025 Ria Safitri, Wiwi Hartati, Sylvani https://creativecommons.org/licenses/by/4.0/
PENGARUH INFLUENCER SOCIAL MEDIA DAN CONTENT MARKETING TERHADAP MINAT BELI GENERASI Z DI KOTA PALOPO
Introduction: The advancement of digital technology has transformed the marketing landscape, particularly in reaching Generation Z, who have grown up within the social media ecosystem. Influencer and content marketing have become increasingly popular strategies, as they are believed to shape opinions and drive purchase intention among young consumers. Methods: This study aims to analyze the influence of social media influencers and content marketing on Generation Z's purchase intention in Palopo City. A quantitative approach was employed, using a survey method that involved 133 respondents selected through purposive sampling. Data analysis was conducted using multiple linear regression with the assistance of SPSS 25. Results: The results show that both independent variables have a positive and significant effect on purchase intention, both partially and simultaneously. The coefficient of determination (R²) value of 0.541 indicates that 54.1% of the variation in purchase intention can be attributed to the influence of social media influencers and content marketing. These findings reinforce the role of digital marketing in supporting MSME growth strategies through the targeted use of social media. Keywords: Influencer, Content Marketing, Purchase Intention, Generation Z, Digital Marketing
Copyright (c) 2025 Rudi, Muhammad Ikbal, Hapid https://creativecommons.org/licenses/by/4.0/
PENGARUH INTENSITAS MODAL DAN CEO POWER TERHADAP PENGHINDARAN PAJAK PADA PERUSAHAAN MANUFAKTUR SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2020-2023
Introduction: Tax avoidance remains a strategic issue in corporate financial management, particularly in industries with high public scrutiny, such as food and beverage manufacturing. This study analyzes the influence of capital intensity and CEO power on tax avoidance among companies listed on the Indonesia Stock Exchange (IDX) during 2020–2023. Methods: This research used a quantitative approach to collect secondary data from 84 firm-year observations selected through purposive sampling. The analytical method employed was multiple linear regression supported by descriptive and correlation analysis. Results: The results showed that both capital intensity and CEO power had no significant effect on tax avoidance (F = 0.225, p = 0.799). The adjusted R-squared value was −0.019, indicating that the model had very low explanatory power. The correlation between CEO power and capital intensity was −0.097, suggesting a weak and negative relationship. These findings imply that other factors, such as profitability, leverage, or corporate governance, may play a more substantial role in influencing tax avoidance. Therefore, further studies are recommended to explore these alternative determinants within different industrial contexts. Keywords: CEO Power, Capital Intensity, Tax Avoidance
Copyright (c) 2025 Kharisma Amalia Tsani, Mustika Winedar https://creativecommons.org/licenses/by/4.0/
PENGARUH PERPUTARAN KAS, PIUTANG, DAN PERSEDIAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN FOOD AND BEVERAGE DI BURSA EFEK INDONESIA (BEI)
Introduction: This research investigates the impact of elements of working capital (including cash turnover, receivables turnover, and inventory turnover) on the profitability of food and beverage firms listed on the Indonesia Stock Exchange (IDX). Profitability, measured by Return On Asset (ROA), plays a crucial role in evaluating business performance and investment attractiveness. Efficient turnover in cash, receivables, and inventory is enhancing the company's profit margins and operational sustainability. Therefore, this study aims to provide empirical evidence regarding the association between these indicators and profitability. Methods: This is a quantitative study using secondary data derived from the financial statements of food and beverage companies listed on the IDX during the 2022-2024 period. A total of 132 companies were considered, and 50 samples were selected using purposive sampling based on predefined criteria. Data analysis was conducted using multiple linear regression with the help of SPSS 25 Software. The study performed classical assumption test such as normality, multicollinearity, heteroscedasticity, and autocorrelation to ensure the validity of the regression model. Results: The results indicate so that, simultaneously, cash turnover, accounts receivable turnover, and inventory turnover significantly impact the company's profitability (ROA). Partial tests reveal that each of the three independent variables additionally contributes positively and significantly to ROA. The coefficient of determination (R²) is 0.843, meaning that the three turnover variables explain 84.3% of the variability in profitability. This highlights the importance of efficient working capital management in enhancing firm performance. Keywords: Accounts Receivable Turnover, Cash Turnover, Inventory Turnover, Profitability
Copyright (c) 2025 Della Olivia Lorenza, Mustika Winedar https://creativecommons.org/licenses/by/4.0/
PENGARUH CONSERVATISM, TRANSFER PRICING, DAN CAPITAL INTENSITY TERHADAP TAX AVOIDANCE
Introduction: The purpose of this study is to investigate experimentally how capital intensity, transfer pricing, and conservatism affect tax evasion in the food and beverage industry of the Indonesia Stock Exchange-listed manufacturing companies between 2020 and 2024. Methods: This study used a dataset and a quantitative methodology. The sample consisted of companies that produce food and beverages and are traded on the Indonesian Stock Exchange between 2020 and 2024. The purposeful sampling method was employed, and 37 businesses in met the selection requirements. The data analysis method used in this study was multiple linear regression. Results: According to this analysis, tax evasion in the food and beverage subsector listed on the Indonesia Stock Exchange from 2020 to 2024 was negatively impacted by conservatism, transfer pricing had a positive impact on tax avoidance, but capital intensity did not affect tax avoidance. From 2020 to 2024, capital intensity had little bearing on tax evasion in food and beverage manufacturing firms listed on the Indonesia Stock Exchange (IDX). To compare the findings with those of this study, future research is expected to use alternative factors or include variables that can affect tax evasion, such as company size, profitability, or leverage. Additionally, the research term or the research object may be extended. Keywords.: Capital Intensity, Conservatism, Tax Avoidance, Transfer Pricing
Copyright (c) 2025 Adelia Nur Iftikhor, Dewi Indriasih, Aminul Fajri https://creativecommons.org/licenses/by/4.0/
ANALISIS KAJIAN LOYALITAS PEGAWAI PT BRI CABANG PANDEGLANG UNIT PASAR TIMUR
Introduction: This research is motivated by the employee loyalty of PT BRI Pandeglang Branch Pasar Timur Unit. Employee loyalty is a strategic element in maintaining organizational performance. This study aims to analyze employee loyalty at PT BRI Pandeglang Branch Pasar Timur Unit. Reviewed from 4 indicators: 1) Obedience or Compliance, 2) Responsible, 3) Devotion, and 4) Honesty. Methods: The qualitative approach uses phenomenological methods, obtained through observation, documentation, triangulation, and interview techniques. Informants are divided into three levels: top, middle, and bottom. Results: The results of the study show that: 1) Employee compliance or obedience shows that employees have an awareness of compliance and commitment to professionalism; 2) Employee responsibility shows that employee responsibility is reflected through loyalty in completing tasks, even in the midst of a high workload; 3) employee dedication shows that loyalty to long-term career development and willingness to take initiatives outside of formal duties; and 4) employee honesty shows that loyalty to honesty, both in reporting work and admitting mistakes, but fear of stigma and punishment are factors that inhibit complete openness. Keywords: Bank, Employee, Loyalty
Copyright (c) 2025 Shinta Damayanti, Encep Saefullah, Arta Rusidarma Putra https://creativecommons.org/licenses/by/4.0/
FAKTOR-FAKTOR PENENTU STRUKTUR MODAL PADA PERUSAHAAN MAKANAN DAN MINUMAN: BUKTI DARI BURSA EFEK INDONESIA TAHUN 2020-2024
Introduction: The study looks at how capital structure is affected by internal financial characteristics in food and beverage companies listed and registered on the Indonesian Stock Exchange between 2020 and 2024. The elements include effective tax rates, firm size, business risk, sales growth, and non-debt tax shield. Given the strategic importance of capital structure in maintaining financial resilience, the study focuses on the food and beverage industry, which has shown remarkable adaptation during the post-pandemic period. Methods: The annual reports of sixty-three food and beverage companies listed on the Indonesia Stock Exchange provided the secondary data for this quantitative analysis. These yearly reports include 315 company-year observations, are included in these yearly reports, which span the years 2020-2024. In order to meet the normalcy assumption and enhance the validity of the regression model, outliers were found using case-by-case diagnostic techniques prior to regression testing. Results: The results show that business risk significantly and negatively affects capital structure. This implies that companies with more business risk tend to use less funding. Conversely, non-debt tax shield, firm size, sales growth, or effective tax rate are found to have a statistically significant influence on capital structure decisions. Keywords: Business Risk , Capital Structure, Effective Tax Rate, Firm Size, Non-Debt Tax Shield, Sales Growth
Copyright (c) 2025 Putri Silviana, Dewi Indriasih, Baihaqi Fanani https://creativecommons.org/licenses/by/4.0/
PENGARUH PENILAIAN DENGAN METODE FINANCIAL VALUE ADDED (FVA) DAN MARKET VALUE ADDED (MVA) TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN MANUFAKTUR SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2020–2023
Introduction: Financial performance is an essential indicator for assessing a company's efficiency in managing resources to achieve financial objectives. In the context of challenges posed by the COVID-19 pandemic, this study aims to analyse the effect of Financial Value Added (FVA) and Market Value Added (MVA) on the financial performance of manufacturing companies in the food and beverage sector listed on the Indonesia Stock Exchange during the period 2020-2023. Methods: The research design employs a quantitative approach using secondary data from the companies' official financial statements. The analysis method applied is multiple linear regression to test the influence of independent variables on Return on Assets (ROA), the dependent variable. Results: The findings reveal that both FVA and MVA have a positive and significant impact on financial performance, and that they jointly explain approximately 67.1% of the variation in ROA. This research provides valuable insights for company management in enhancing capital management strategies and value creation. Keywords : Financial Value Added, Market Value Added, Financial Performance, Food and Beverage Sector Return on Assets
Copyright (c) 2025 Nur Fitria Fahima, Alvy Mulyaning Tyas https://creativecommons.org/licenses/by/4.0/
PENGARUH ENVIRONMENTAL, SOCIAL, DAN GOVERNANCE (ESG) TERHADAP KINERJA KEUANGAN PERUSAHAAN ENERGI YANG TERDAFTAR DI BEI
Introduction: Indonesia has great potential in the energy sector, attracting significant investor interest; however, energy companies' financial performance often faces pressures and environmental challenges. The disclosure of environmental, social, and governance (ESG) practices has become increasingly important as a sustainable business strategy, which is believed to enhance corporate value and competitiveness. This study aims to analyze the effect of ESG on the financial performance of energy companies listed on the Indonesia Stock Exchange during the 2020–2023 period. Methods: This research is quantitative in nature. The population studied consists of energy sector companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2023. Based on the sampling results, there are 12 energy sector companies as the sample objects. The analytical method used in this research is panel data regression method using E-Views 10 statistical software. Results: Based on the estimation results using panel data regression with the common effect model, it can be concluded that the environmental variable has a significant positive effect on company performance (ROE) with a coefficient of 0.344818 (p-value = 0.0298), and the governance variable also shows a significant positive effect with a coefficient of 0.046795 (p-value = 0.0059). However, the social variable does not significantly affect ROE with a p-value of 0.9748. Keywords: Corporate Performance, Environmental, Governance, Social
Copyright (c) 2025 Juliana Adiningsih Santoso, Fatchur Rohman https://creativecommons.org/licenses/by/4.0/
UNLOCKING LABOR MARKET: THE ROLE OF FDI, EDUCATION, INTERNET USAGE, AND GDP GROWTH IN 5-ASEAN
Introduction: Labor absorption is a crucial indicator of economic development. The many job gaps indicate that the labor market still has problems. Issues in the labour market arise because there is a mismatch between the demand and supply of labour, so the available labour is not optimally absorbed. This study examined five ASEAN countries: Indonesia, Malaysia, Singapore, the Philippines, and Thailand. The aim is to analyze how the roles of FDI, GDP Growth, Education, and Internet use influence labor absorption in these five ASEAN countries. Methods: This study employs a quantitative approach, utilizing the Data Panel Regression analysis method. Based on the results of the model selection, the model used in this study is the FEM (Fixed Effect Model) Results: The study found that FDI and GDP Growth did not have a significant effect on labor absorption. Meanwhile, Internet Usage harms labor absorption. For education, the mean school years are used to indicate positive and considerable results. Keywords: ASEAN, Education, FDI, Internet Usage, Labor Market, LFPR
Copyright (c) 2025 Aisyah Latifunisa, Annis Nurfitriana Nihayah https://creativecommons.org/licenses/by/4.0/
DETERMINAN KEMANDIRIAN KEUANGAN DAERAH PEMERINTAH PROVINSI DI PULAU SUMATERA
Introduction: Regional financial “independence is an essential indicator in measuring the ability of local governments to finance government implementation and development independently without relying on transfer funds from the central government. In the province of Sumatra Island, achieving financial independence remains a challenge due to a significant reliance on balance funds. This research aims to analyse the effect of the Balance, Capital Expenditure, Leverage, and Government Size Fund on regional financial independence in 10 provinces on Sumatra Island during the 2019-2023 period. Methods: The method used is quantitative research with panel data, analysed using the Fixed Effects Model (FEM) in E-Views 13. Results: Research indicates that the Balance Fund significantly adversely affects regional financial independence, suggesting that dependence on central funds reduces fiscal autonomy. On the other hand, Capital Expenditure has a significant positive influence, suggesting that local governments' investment in productive asset development can foster greater budgetary independence. The government's leverage and size variables did not have a significant effect, indicating the need to improve debt and asset management to impact regional financial independence positively. The discussion of the results links these findings to agency theory, highlighting the conflict of incentives between central and local governments and the importance of proper incentives to promote fiscal independence.” This study concluded that strengthening local revenue and optimising capital expenditure are the primary keys to increasing regional financial independence on Sumatra Island. Keywords: Regional Financial Independence, Balanced Fund, Capital Expenditure, Leverage, Agency Theory
Copyright (c) 2025 Siti Nurul Aini, Sulaiman, Siska Aprianti https://creativecommons.org/licenses/by/4.0/
FAKTOR-FAKTOR YANG MEMPENGARUHI PURCHASE DECISION PADA HACHIO GUEST HOUSE AND CAFE
Introduction: A recent drop in sales revenue at Hachio Guest House and Cafe from January to February 2025 highlights the problem of declining sales. There is an emerging trend of challenges to consumers' purchasing decisions from Hachio Guest House and Cafe. This, therefore, makes it imperative for Hachio Guest House and Cafe to improve consumer repurchase decisions. This study discusses the effects of reputation and electronic word of mouth on repurchase decisions through trust. Further, this study's objective is to test the above-stated factors. Methods: This study will use a quantitative approach by testing hypotheses. The participants in this study are customers of Hachio Guest House and Cafe. A purposive sampling technique was used, with the rule that participants must be over 17 years old and have visited Hachio Guest House and Cafe at least once in the past six months, to select 150 participants using Maximum Likelihood Estimation. The analysis will use Structural Equation Modelling, with AMOS as the analytical tool to test the research hypotheses. Result: All hypotheses were accepted. This therefore means that reputation has a significant positive effect on trust, E-WOM also has a significant positive impact on trust, reputation has a noticeable positive effect on repurchase decision, E-WOM has a considerable influence in repurchase decision, and trust has a positive impact on repurchase decision. Keywords: Reputation, Electronic Word of Mouth, Trust, Repurchase Decision
Copyright (c) 2025 Cindy Yosan Daynestrie, Ibnu Khajar https://creativecommons.org/licenses/by/4.0/
PENGARUH BEBAN KERJA DAN KOMPENSASI FINANSIAL TERHADAP KINERJA KARYAWAN BAGIAN PRODUKSI PADA PT. NUANSA METTA ABADI (NMA) KABUPATEN PURWAKARTA
Introduction: PT. As a construction company, Nuansa Metta Abadi (NMA) has a big responsibility to ensure its production employees' performance stays on point. However, according to internal company data, most employees don't meet the standards. This is probably because of high workloads and financial compensation that employees don't feel is fair or reasonable. This study aims to analyse how workload and monetary compensation, both individually and in combination, impact the job performance of production staff at PT. Nuansa Metta Abadi. Methods: The data for this study were collected through questionnaires and records, making it a quantitative study. Forty-two individuals working in the production department participated in the survey. The analytical process employed quantitative descriptive and correlational approaches, complemented by multiple linear regression and determination coefficient techniques to evaluate the data. Results: The study demonstrates that each variable—workload and financial compensation—positively contributes to employee performance when assessed in isolation. Simultaneously, both variables also significantly influence the performance of production employees. Conclusion and suggestion: PT. Nuansa Metta Abadi is advised to improve work environment comfort, ensure timely compensation, and enforce punctual task completion. These efforts support stronger motivation and performance. Future research should examine broader variables and larger samples to deepen understanding and broaden the study's theoretical scope. Keywords: Workload, Financial Compensation, Employee Performance, Production, Construction.
Copyright (c) 2025 Syifa Nabila, R.M. Juddy Prabowo https://creativecommons.org/licenses/by/4.0/
PENGARUH BEBAN PAJAK TANGGUHAN, TAX PLANNING, DAN TAX AVOIDANCE TERHADAP MANAJEMEN LABA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2021 – 2023
Introduction: Earnings management has become a phenomenon of interest because it provides insight into managers’ behavior in reporting business activities over a specific period and the potential for particular motivations to manipulate reported financial data. This study aims to analyze the effect of deferred tax burden, tax planning, and tax avoidance on earnings management in food and beverage companies listed on the Indonesia Stock Exchange from 2021 to 2023. Methods: This study employs quantitative methods, using secondary data —specifically, company financial reports. The population in this study is food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. This study employs quantitative methods, utilizing secondary data, specifically company financial reports obtained from the IDX website and through documentation techniques. The population in this study is food and beverage sub-sector companies listed on the IDX from 2021 to 2023. A sample of 19 companies was obtained using a purposive sampling method. The analytical method in this study is descriptive analysis. Results: The study’s F-test revealed that the deferred tax expense, tax planning, and tax avoidance variables collectively had a significant impact on earnings management. Keywords: Deferred Tax Burden, Tax Planning, Tax Avoidance, Earnings Management
Copyright (c) 2025 Isman Ardi Saputro, Alvy Mulyaningtyas https://creativecommons.org/licenses/by/4.0/
EVALUASI PENYAJIAN LAPORAN KEUANGAN BERBASIS STANDAR AKUNTANSI KEUANGAN ENTITAS TANPA AKUNTABILITAS PUBLIK (SAK ETAP) PADA CV. SHAFIRA MARGA UTAMA
Introduction: This research aims to assess how financial statements are presented at CV. Shafira Marga Utama has been carried out in accordance with the Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP), CV. Shafira Marga Utama falls into the category of businesses required to apply SAK ETAP in preparing their financial statements. Method: This research employs a qualitative descriptive method, using interviews and document analysis for data collection. This approach is chosen to gain a deeper understanding of the company's financial statement preparation practices. Results: The research findings indicate that the company has prepared financial statements in including a balance sheet and an income statement. However, the presentation of these reports does not fully comply with the provisions of SAK ETAP, as it does not include a statement of cash flows, an equity movement report and explanatory notes on the financial reports. Therefore, it is recommended that the company enhance its understanding of applicable accounting standards to produce more complete, informative, and reliable financial statements. Keywords: Financial Statements, SAK ETAP
Copyright (c) 2025 Aura Queensy Balqis, Alvy Mulyaning Tyas https://creativecommons.org/licenses/by/4.0/
THE IMPACT OF ACCOUNTING DIGITALIZATION ON MSMEs’ FINANCIAL PERFORMANCE: A RESOURCE-BASED VIEW PERSPECTIVE IN THE CONTEXT OF FINANCIAL LITERACY AND GREEN FINANCE
Introduction: This study investigates the impact of accounting digitalisation, financial literacy, and access to green finance on the financial performance of micro, small, and medium enterprises (MSMEs) in Patikraja District, Central Java, Indonesia. Method: Using a quantitative explanatory design, data were collected from 150 valid questionnaires via purposive sampling, with the sample size determined using Slovin’s formula. Multiple linear regression analysis with SPSS version 25 was employed, supported by validity, reliability, and classical assumption tests. The results show that all three independent variables significantly influence MSME financial performance. Among them, financial literacy exerts the strongest positive effect, followed by accounting digitalization and access to green finance. Results: These findings demonstrate that financial knowledge and digital accounting adoption are essential for profitability, efficiency, and resilience, while sustainable financing further supports eco-friendly practices and long-term stability. This study contributes to the Resource-Based View (RBV) literature by integrating financial, technological, and sustainability perspectives. It offers practical implications for policymakers to strengthen literacy programs, expand access to digital tools, and improve MSME access to green finance. Keywords: Accounting Digitalisation, Financial Literacy, Financial Performance, Green Finance, MSMEs
Copyright (c) 2025 Esti Saraswati, Lusi Yuliarti https://creativecommons.org/licenses/by/4.0/
EKSPLORASI PEMANFAATAN ASET DAERAH OLEH UMKM SEBAGAI SUMBER POTENSI PENDAPATAN ASLI DAERAH
Introduction: Micro, Small, and Medium Enterprises (MSMEs) play a vital role in supporting Regional Original Revenue (PAD). In Mataram City, many MSMEs use public assets, but their contribution to PAD is still limited. This study aims to analyse the utilisation of regional assets by non-tax MSMEs and formulate strategies to optimise their contribution to PAD. Methods: This study uses a qualitative phenomenological approach to explore how non-tax MSMEs in Mataram City utilise regional assets. Data were obtained through interviews, observations, and documentation, then analysed using a case study method. Results: The findings reveal that the utilisation of regional assets by non-tax MSMEs in Mataram City has contributed positively, though not optimally, to Regional Original Revenue (PAD). Most MSMEs with daily revenue above Rp1,000,000 have not yet fulfilled their tax obligations, instead paying through rental and sanitation fees. The study also indicates that regulatory clarity, asset inventory, and improved public facilities are key strategies for optimising MSMEs’ productivity and increasing PAD contribution. Conclusion and Suggestion: Although the contribution of Micro, Small, and Medium Enterprises (MSMEs) to Regional Original Revenue (PAD) in Mataram City remains limited, they play an essential role in utilising regional assets and supporting local economic growth. Only a small portion of MSMEs contribute through taxes or levies, while most help the economy indirectly through employment and innovation. The study suggests that local governments should improve asset management, adjust contribution schemes, and provide better facilities to enhance MSME productivity and long-term contributions to PAD. Keywords: Micro, Small, and Medium Enterprises (MSMEs); Regional Assets; Regional Original Revenue (PAD); Local Economic Growth; Mataram City
Copyright (c) 2025 Anissa Susiastini, Ali Fikri https://creativecommons.org/licenses/by/4.0/
Analisis Perbandingan Kinerja Keuangan Perbankan Listed di BEI Selama Pandemi dan Sesudah Pandemi Covid-19 Periode Tahun 2020-2024
Introduction: This study uses CAR, NPL, LDR, BOPO, and ROA variables to analyze comparative financial performance. This study focuses on banking firms that were listed on the Indonesia Stock Exchange (IDX) during the period from 2020 to 2024. Methods: This research is a quantitative study with a comparative approach, processing data using SPSS 27.00 software and using the Wilcoxon Signed Rank test. Secondary data comes from documentation studies of the Indonesian Stock Exchange, companies’ annual financial reports, and other official sources. Results: Purposive sampling was used to select 26 banking companies as samples that met the research requirements. The research findings showed no significant differences in the CAR ratio between the pandemic and post-pandemic periods, reflecting the banking sector’s ability to maintain capital stability amid economic pressures. However, there were significant differences in the NPL, LDR, BOPO, and ROA ratios. During the pandemic, increases in NPLs and BOPO occurred due to decreased debtor repayment capacity and increased risk management costs, while decreases in LDR and ROA occurred due to weakened credit demand and increased operational costs and credit risk. Conclusion and suggestion: This research shows that the COVID-19 pandemic has significantly impacted banking financial performance. These findings are expected to serve as a reference for banking industry players, investors, and regulators in developing post-COVID-19 policy strategies. Keywords: CAR, NPL, LDR, BOPO, ROA, Financial Performance, Pandemic Covid-19
Copyright (c) 2025 Anjar Kumala Rani, Kiryanto https://creativecommons.org/licenses/by/4.0/
IMPACT OF INTEGRATED REPORTING ON FIRM VALUE: SYSTEMATIC LITERATURE REVIEW EVIDENCE FROM ASIA
Introduction: This study aims to analyze the impact of Integrated Reporting on firm value in various industries, both domestically and internationally, that have already adopted Integrated Reporting. The theory used in this study is called the stakeholder theory. Methods: This study examines 20 articles from the 2019–2024 study period, out of 999 articles retrieved from the Scopus, Sinta, and Google Scholar databases using the Publish or Perish software. Results: The study shows differences between a few studies on the impact of integrated reporting on firm value. The majority of respondents indicate that there is a positive impact of integrated reporting on firm value. Keywords: Firm value, Integrated reporting, Systematic literature review
Copyright (c) 2025 Krisna Praditya*, Yusnaini https://creativecommons.org/licenses/by/4.0/
PERAN MEDIA, PROFITABILITAS, DAN LEVERAGE DALAM PENGUNGKAPAN EMISI KARBON PADA SEKTOR PERTAMBANGAN
Introduction: Climate change has become a pressing global issue, sparking intense discussions worldwide. Climate change, as an international phenomenon, has become the most significant environmental challenge currently facing the world. Environmental disclosure related to carbon emissions is still voluntary in Indonesia, and few entities have implemented it. The goal of this study is to analyze the impact of media exposure, profitability, and leverage on carbon emission disclosure by many mining companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2023. Methods: This study employs a quantitative methodology, selecting research samples through purposive sampling in SPSS software. The focus of this study is on the mining sector listed on the IDX from 2021 to 2023, with research data consisting of financial reports obtained from the IDX website. Results: The study found that the media exposure variable has a significant positive influence on carbon emissions disclosure, as does the profitability variable. Meanwhile, the leverage variable in this study was found to have a significant negative influence on carbon emissions disclosure. Conclusion and suggestion: Media exposure and profitability have been shown to have a significant positive effect on carbon emission disclosure, while leverage has an adverse effect. The measurement index of the dependent variable, which refers entirely to the research by Choi et al. (2013), and the relatively small number of research variables are limitations of this study. Further research is expected to re-examine this by developing several other variables, updating the sample to the latest period, and extending the research period. Keywords: Media Exposure, Profitabilitas, Leverage, Pengungkapan Emisi Karbon
Copyright (c) 2025 Nadia Rohadatul ‘Aisy, Aida Nahar https://creativecommons.org/licenses/by/4.0/
PENGARUH KESADARAN WAJIB PAJAK DAN PEMAHAMAN WAJIB PAJAK TERHADAP TINGKAT KEPATUHAN WAJIB PAJAK ORANG PRIBADI DENGAN SANKSI PAJAK SEBAGAI MODERASI
Introduction: Taxpayer compliance in Indonesia remains a significant concern, despite advancements in awareness and understanding of tax obligations. This study aims to examine the influence of taxpayer awareness and comprehension on individual taxpayer compliance, with tax consequences serving as a moderating variable. Method: A quantitative methodology was employed, utilizing a sample of 86 respondents selected via simple random sampling. Data were gathered via a structured questionnaire employing a five-point Likert scale and analyzed with SmartPLS 4.0 for Partial Least Squares Structural Equation Modeling (PLS-SEM). Result: The findings demonstrate that taxpayer knowledge and comprehension significantly enhance compliance. The R-square value of 0.874 for the compliance variable indicates substantial explanatory power of the model. The moderating effect of tax penalty was determined to be statistically insignificant. This research contributes to the literature by addressing the gap in studies on digital investor taxpayers in Indonesia and highlights the limited significance of sanctions as moderating factors. The results underscore the need to improve taxpayer education and awareness initiatives to foster sustained compliance behavior. Keywords: Compliance level, Taxpayer awareness, Taxpayer understanding, Tax sanctions, Theory of Planned Behavior, SmartPLS.
Copyright (c) 2025 Firshona Lorista, Melvin Rahma Sayuga Subroto https://creativecommons.org/licenses/by/4.0/
PENGARUH BIAYA PRODUKSI DAN BIAYA KUALITAS TERHADAP PENJUALAN PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI TAHUN 2021-2023
Introduction: This study examines the impact of production costs and quality costs on sales in manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. The background of this research is based on the importance of efficient cost management in maintaining the company’s competitiveness. This study aims to analyze the impact of these two variables on sales. Method: This research employs a quantitative approach, using documentation methods to gather data from companies' annual financial statements. Result: The analysis indicates that both production and quality costs have a significant effect on sales, both simultaneously and partially. These findings suggest that efficient cost management can drive sales growth. Therefore, this research makes meaningful contributions to companies in helping them develop more effective business strategies. Keywords: Production Costs, Quality Costs, Sales, Manufacturing Companies, Indonesia Stock Exchange
Copyright (c) 2025 Putri Adnani Rosyida , Alberta Esti Handayani https://creativecommons.org/licenses/by/4.0/
Antara Syar'i dan 'Spill': Bagaimana Konten Dakwah Fashion di Media Sosial Membentuk Perilaku Konsumtif Mahasiswi Pendidikan Agama Islam?
Introduction: The proliferation of dakwah fashion content on social media, driven by influencers, has created a cultural paradox where Islamic values intersect with consumerism. While this phenomenon is assumed to influence purchasing decisions, its actual impact on individuals who are religiously educated remains empirically under-researched. This study aims to analyze the influence of social media usage intensity and dakwah fashion influencers on the consumption behavior of female Islamic Education (PAI) students in Indonesia. Methods: A quantitative approach was employed, using a total sampling method (census) to involve 50 active female students from the PAI program at STIT Al-Azami Cianjur. Data were collected through a structured questionnaire with a five-point Likert scale and analyzed using multiple linear regression, including classical assumption tests. Results: The statistical analysis yielded a counterintuitive yet significant outcome. The findings indicate that neither the intensity of social media usage nor the influence of dakwah fashion influencers had a statistically significant effect, either partially or simultaneously, on the students' consumptive behavior (p > 0.05). The model’s coefficient of determination (R-Square) was also extremely low, confirming a weak explanatory power. Conclusion and suggestion: This study concludes that female PAI students exhibit a form of "critical immunity" to the commercial persuasion embedded in dakwah fashion content. It is argued that their formal religious education fosters a critical religious literacy, enabling them to separate aesthetic appreciation from consumptive action. These findings challenge the generalized assumption of influencer power and underscore the necessity of segmenting Muslim consumers not just by piety, but by their level of critical religious education. Future qualitative research is recommended to explore the cognitive mechanisms behind this immunity. Keywords: Consumptive Behavior, Dakwah Fashion, Influencer, Islamic Education Student, Social Media.
Copyright (c) 2025 Alfa Rohmatin, Endan Hamdan Ridwan, Tedi Gandara , Diansyah Permana, Imas Masitoh https://creativecommons.org/licenses/by/4.0/
PENGARUH TRANSFER PRICING, THIN CAPITALIZATION, DAN PROFITABILITAS TERHADAP TAX AVOIDANCE PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA 2021 – 2023
Introduction: The purpose of this study is to analyze the effect of transfer pricing, thin capitalization, and profitability on tax avoidance in food and beverage subsector companies listed on the Indonesia Stock Exchange for the 2021-2023 period. Methods: This study employed a quantitative method, utilizing secondary data in the form of company financial reports obtained through the IDX website and documentary techniques. The population used was the food and beverage subsector on the IDX for the 2021-2023 period, with a sample of 22 companies selected purposively. The analysis method used was descriptive analysis. Results: The study's F-test revealed that transfer pricing, thin capitalization, and profitability variables collectively had a significant impact on tax avoidance. Meanwhile, the t-test results showed that transfer pricing and thin capitalization variables were associated with tax avoidance. Meanwhile, the profitability variable did not affect tax avoidance. Keywords: Transfer Pricing, Thin capitalization, Profitability, Tax avoidance
Copyright (c) 2025 Putri Indah Permatasari, Alberta Esti Handayani https://creativecommons.org/licenses/by-nc/4.0/
ANALISIS PENGARUH LEVERAGE, CORPORATE GOVERNANCE, DAN TRANSFER PRICING TERHADAP TAX AVOIDANCE PADA PERUSAHAAN MANUFAKTUR SEKTOR FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2021-2023
Introduction: Tax avoidance is an essential issue in taxation that often exploits regulatory gaps or legal ambiguities in complex transactions. This practice poses a challenge for tax authorities in enforcing compliance. This study examines the influence of leverage, corporate governance, and transfer pricing on tax avoidance in manufacturing companies in the food and beverage subsector listed on the Indonesia Stock Exchange during the period 2021-2023. Methods: The method employed is quantitative, utilising secondary data from a total sample of 35 companies over three years, resulting in a total of 65 data observations. The analysis methods employed in this research include descriptive statistics, classical assumption tests (such as normality, multicollinearity, heteroscedasticity, and autocorrelation), and hypothesis testing. Additionally, t-tests, F-tests, and multiple linear regression analyses are conducted, along with the coefficient of determination, using SPSS version 25. Results: Leverage and transfer pricing have a significant impact on tax avoidance, whereas corporate governance does not. All three variables — leverage, corporate governance, and transfer pricing —have a substantial effect on tax avoidance. Keywords: Leverage, Corporate Governance, Transfer Pricing, Tax Avoidance
Copyright (c) 2025 Devita Mia Divia Nabila, Didik Tugas, Alberta Esti Handayani https://creativecommons.org/licenses/by/4.0/
PENGARUH PERENCANAAN PAJAK YANG DIPROKSIKAN DENGAN EFFECTIVE TAX RATE (ETR) DAN BOOK TO TAX DIFFERENCE (BTD) TERHADAP NILAI PERUSAHAAN
Introduction: This study examines the effect of tax planning, projected using the effective tax rate (ETR) and book-tax differences (BTD), on firm value in mining companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Methods: The research population consists of all mining companies listed on the IDX within the specified period. The sampling method employed is purposive sampling, resulting in a sample of 11 companies with a three-year observation period, which generates 33 data points. Data analysis was conducted using multiple linear regression analysis with SPSS version 27. Results: The findings indicate that, when examined jointly, tax planning, as projected using ETR and BTD, has a significant effect on firm value. Similarly, when analyzed individually, tax planning projected using ETR has a substantial effect on firm value. Tax planning projected using BTD also having a significant impact on firm value. Implications: These results suggest that effective tax management plays a vital role in enhancing firm value, emphasizing the importance of strategic and lawful tax planning practices within mining companies. The findings also provide policymakers with insights to design tax regulations that balance state revenue interests with corporate financial performance, particularly in highly regulated sectors such as mining. Keywords: Tax Planning, Effective Tax Rate (ETR), Book to Tax Difference (BTD), and Company Value.
Copyright (c) 2025 Luvi Anggriani, Nazwa Safina Ramadhanni , Alma Apriliani https://creativecommons.org/licenses/by/4.0/
THE EFFECT OF WORK ASSESSMENT AND WORKLOAD ON JOB SATISFACTION AND ITS IMPACT ON EMPLOYEE PERFORMANCE
Introduction: This study aimed to determine the influence of performance assessment and workload on job satisfaction, which has an impact on employee performance at the Mojokerto Regency DPRD secretariat office. Methods: This research uses a quantitative approach. The population of this study consists of 52 employees working at the Mojokerto Regency DPRD Secretariat office. Research that uses all members of the population is called a total sample or census. This study employs a research instrument in the form of a questionnaire. The respondents’ answers are then tabulated and processed using the Warp PLS Version 6 program. Results: Research findings indicate that the impact of work assessment on employee satisfaction has not been proven to be significant. This is due to employee dissatisfaction with their performance assessment. It has been proven that workload has a significant impact on employee satisfaction; this means that effectively managing the existing workload can have a positive impact on increasing employee job satisfaction. It is not proven that work assessment has a significant effect on performance. This demonstrates that performance assessment is subjective. It is proven that workload has a significant impact on performance. It has been proven that the higher the workload assigned, the greater the employee’s performance will increase. It is proven that employee satisfaction has a significant effect on performance; this is proven by the fact that employee performance provides satisfaction for the employees themselves. It is proven that work assessment has an impact on performance through job satisfaction. It has been proven that workload has an impact on performance, as measured by job satisfaction, at the Mojokerto Regency DPRD Secretariat Office. Keywords: Performance Appraisal, Workload, Job Satisfaction, Employee Performance
Copyright (c) 2025 Amalina Mufida, Dyah Sawitri, Nugroho Agus Santoso https://creativecommons.org/licenses/by/4.0/
PENGARUH PROMOSI DAN ONLINE CUSTOMER REVIEW TERHADAP KEPUTUSAN PEMBELIAN PRODUK ELEKTRONIK DI SHOPEE
Introduction: The rapid development of digital information systems has shifted shopping patterns from traditional offline activities toward online transactions. Shopee, as a central e-commerce platform in Indonesia, implements promotional programs and utilizes user-generated reviews, both of which play a crucial role in shaping consumer purchasing behavior, especially for high-value electronic products. This study investigates the influence of promotions and online reviews, either individually or in combination, on purchasing decisions. Methods: A quantitative approach was applied, involving 198 respondents residing in the Greater Jakarta region who had experience buying electronic products through Shopee. Data were gathered using an online questionnaire and analyzed with multiple linear regression through SPSS version 27 Results: The findings indicate that promotions have a significant influence on consumer purchasing, with a regression coefficient of 0.230 (p < 0.05). This considerable effect occurs because promotional programs, such as discounts, cash back, and free shipping, create a psychological stimulus that increases consumers’ desire and urgency to purchase electronic products. In comparison, online reviews provide a more substantial impact, reflected by a regression coefficient of 0.416 (p < 0.05). The more significant influence of online customer reviews stems from the fact that credible and detailed reviews enhance consumer trust, reduce perceived risk, and serve as a form of social proof that validates product quality. When considered together, both variables demonstrate a significant effect on purchasing outcomes (p < 0.05), with an R² value of 0.641. These results suggest that Shopee and similar e-commerce platforms should strengthen their promotional strategies and effectively manage online reviews to build consumer confidence and increase purchasing decisions for electronic products. Keywords: Promotion, Online Customer Review, Purchase Decision, E-commerce, Electronic Products.
Copyright (c) 2025 Putri Nurmala, Wiwik Widiyanti, Isnurrini Hidayat Susilowati, Ratnawaty Marginingsih https://creativecommons.org/licenses/by/4.0/
BUSINESS DEVELOPMENT OF CARDIOVASCULAR CENTER OF EXCELLENCE AT CIKALONGWETAN REGIONAL PUBLIC HOSPITAL
Introduction: Cardiovascular disease is the leading cause of death in both Indonesia and the world. However, West Bandung Regency still lacks adequate specialized referral services. RSUD Cikalongwetan is responding to this urgent need by developing a business plan for establishing a premier cardiovascular care unit. This study aims to formulate a business strategy by analyzing internal and external environments, marketing, finance, operations, human resources, and investment feasibility based on key financial indicators. Methods: The research employs a descriptive qualitative method, utilizing techniques such as observation, internal document review, and secondary data analysis from the Ministry of Health and the World Health Organization (WHO). Analytical tools used include SWOT, IFAS-EFAS, Design Thinking, the Business Model Canvas, and the Timmons Model. Financial projections are evaluated using Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period, Return on Investment (ROI), and Profitability Index. Results: The results indicate a strong market growth potential with a compound annual growth rate (CAGR) of 30.79% and a Net Profit Margin of 6.68%. The investment proves highly feasible, with a positive NPV, an IRR of 45%, a Payback Period of 1 year and 11 months, and a Profitability Index of 2.14. The ROI is 146.23%, strong mid-term profitability, and financial efficiency. RSUD Cikalongwetan also demonstrates strengths in referral network integration, cost control, and human resource readiness. The development of cardiovascular services at RSUD Cikalongwetan presents both high business and social potential. With a focused strategy, interdepartmental synergy, and stakeholder support, the service is poised to become a reliable regional referral center. It is recommended that the hospital strengthen clinical coordination systems, accelerate investment in diagnostic equipment, and foster cross-sector strategic collaborations to ensure long-term sustainability. Keywords: Business Planning, Cardiovascular Services, Hospital, Healthcare Strategy.
Copyright (c) 2025 Devy Ike Mustika Sari, Meriza Hendri https://creativecommons.org/licenses/by/4.0/
MUTU PELAYANAN, MUTU PRODUK, DAN HARGA PENGARUHNYA TERHADAP LOYALITAS PELANGGAN
Introduction: Customer loyalty is a crucial factor in shaping customer attitudes toward a product, leading to a consistent and sustainable willingness to purchase it over other products. This study examines the relationship between service quality, service products and price to consumer loyalty in UD BS Makmur, Mojokerto. UD BS Makmur is a primary food supplier and is currently undertaking numerous management improvements to maintain its existence amidst intense competition. Methods: The research sample consisted of 60 consumers who used the Roscoe formula and the Accidental Sampling technique. Data analysis was conducted using descriptive statistics and Regression Analysis. Results: The results showed that service quality, product quality, and price significantly influenced customer loyalty; thus, all research hypotheses were accepted. Customers who are satisfied with better service and higher-quality products will make repeat purchases and recommend the company's excellent products to others. If a company's price meets customer expectations and customers perceive the benefits and value of the product, they will be more likely to be loyal to that company. The dominant independent variable was product quality (X2). Conclusion and suggestions: (1) Adding more modern machines, (2) Increasing the number of employees, (3) Providing digital payments, and (4) Ordering online via WhatsApp Business for a quick response Keywords: Service Quality, Product Quality, Price, Customer Loyalty
Copyright (c) 2025 Rina Irawati, Zainul Arifin, Ilham Abdillah Ziyad https://creativecommons.org/licenses/by/4.0/
PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN
Introduction: Firm value serves as a key indicator of a company’s ability to generate wealth for its shareholders and stakeholders. This study aims to analyse the effect of capital structure and profitability on firm value in Indonesian manufacturing companies. Methods: This quantitative research, employing an explanatory design, utilises the library method and panel data regression analysis, with a fixed effects model, on a sample of 85 manufacturing companies listed on the Indonesia Stock Exchange for the 2019-2023 period, resulting in 425 observations. Independent variables include capital structure proxied by the equity ratio, and profitability measured through return on assets and return on equity. In contrast, the dependent variable is firm value, represented by the price-to-book value and Tobin’s Q. Results: Research findings indicate that the equity ratio has a positive and significant effect on firm value, with a coefficient of 0.287 and a p-value of 0.001, supporting the trade-off theory. The return on assets shows a positive and significant effect, with a coefficient of 4.567 and a p-value of 0.000. In contrast, the return on equity demonstrates a positive and significant effect, with a coefficient of 2.145 and a p-value of 0.002. The research model has an R-squared of 0.7234, indicating that 72.34 % of firm value variation can be explained by capital structure and profitability. Conclusion: The findings confirm that capital structure optimisation and profitability enhancement through operational efficiency constitute fundamental strategies for creating firm value for stakeholders in Indonesia's manufacturing sector. Keywords: Capital Structure, Profitability, Firm Value, Manufacturing Companies, Indonesia Stock Exchange
Copyright (c) 2025 Maria Apriyane Patty, Manggalawati Tande Bura, Christine Jois Karubaba https://creativecommons.org/licenses/by/4.0/
FINANCIAL LITERACY, FINANCIAL TECHNOLOGY AND MSME PERFORMANCE IN BUNGO DISTRICT: THE ROLE OF MANAGEMENT MEDIATION FINANCE
Introduction: This research examined the effects of financial literacy and financial technology on the performance of MSMEs, with financial management as a mediating variable, in Bungo Regency. Method: This study applied a quantitative research method. Primary data were collected using an online and offline questionnaire, completed by MSMEs in Bungo Regency. The sample size was 391 MSMEs. The study employed Partial Least Squares (PLS)-SEM using SmartPLS 4.1. Results: Financial Literacy gives no effects to the Performance of MSMEs in Bungo Regency as seen by the t-statistic value in 1.804 > 1.96 and also the p-value of 0.071 < sig 0.005,Financial Technology has an effect on the MSMEs performance in Bungo Regency as seen by the t-statistic value of 3.784 > 1.96 and also the p value 0.000 < sig 0.005, Financial Literacy gives an influence toward Financial Management as evidenced by the t-statistic value of 4.766 > 1.96 and also p value of 0.000 < sig 0.005,Financial Technology gives such a n impact toward Financial Management as seen by the t-statistic value of 4.766 > 1.96 and the p-value of 0.000 < sig 0.005, Financial Management gives an influence toward Performance of MSMEs in Bungo Regency as evidenced by the t-statistic value of 6.363 > 1.96 and the p value of value of 0.000 < sig 0.005, Financial literacy gives such an influence tward MSMEs performance in Bungo Regency through financial management as seen by the t-statistic value in 3.634 > 1.96 and also ,the p value of value of 0.000 < sig 0.005,Financial Technology gives such an influence toward performance of MSMEs in Bungo Regency through financial management as evidenced by the t-statistic value of 3,905 > 1.96 and also the p-value value of 0.000 < sig 0.005. Keywords: Financial Literacy, Financial Technology, Financial Management, MSMEs Performance
Copyright (c) 2025 Ade Sophia, Wirmie Eka Putra, Riski Hernando https://creativecommons.org/licenses/by/4.0/
Penyelesaian SP2DK Dan Dampaknya Terhadap Penyajian Laporan Keuangan Pada PT Z Di Gowa
Introduction: “The Letter of Request for Explanation of Data and/or Information,” often referred to as an SP2DK in Indonesia, is an instrument used by the Directorate General of Taxes (DGT) to test the level of taxpayer compliance in their tax reporting, based on data deemed inappropriate or containing indications of irregularities. This study aims to determine how Z L td carried out the SP2DK resolution process in Gowa Regency, and its impact on the presentation of the company’s financial statements. Methods: The research method used is a descriptive, qualitative case study. Data collection techniques included direct observation, in-depth interviews with management and financial staff, and analysis of relevant tax documents and financial statements. Results: The focus of the study was on the SP2DK clarification stages, from identifying the data requested by the tax authority, preparing responses and supporting evidence, to administrative completion and recording its impact in the company’s accounting system. The results show that completing the SP2DK encouraged Z Ltd to correct prior tax reporting, which affected adjustments to accounting records, the recognition of tax expenses, and the presentation of tax obligations in the financial statements. This process also encourages companies to improve the accuracy and transparency of financial reporting and strengthen internal control systems related to tax compliance. It can be concluded that completing the SP2DK not only has implications for taxation aspects but also contributes to improving the quality of financial reporting and overall corporate governance. Keywords: SP2DK, financial statements, taxation, tax compliance, accounting
Copyright (c) 2025 Ninda Bella Fransiska, Bayu Sarjono https://creativecommons.org/licenses/by/4.0/
THE EFFECT OF BETA DETERMINATION ON THE PERFORMANCE OF SHARIA AND NON-SHARIA STOCK PORTFOLIOS USING THE REWARD TO DIVERSIFICATION APPROACH
Introduction: Islamic finance is growing rapidly worldwide, as evidenced by the performance of sharia-compliant indices in countries such as Bangladesh and the Dow Jones Islamic Index. The number of Sharia stock investors in Indonesia is also increasing; therefore, it is vital to understand the performance of Sharia stock portfolios and the systemic risks that affect them. The purpose of this study is to examine the effect of beta on the performance of Sharia and non-Sharia stock portfolios in Indonesia. Methods: The research method used is quantitative, with data sources from Yahoo Finance and the IDX website. Beta is a systematic risk that determines the level of portfolio return. The betas used are market beta, accounting beta, fundamental beta, and macroeconomic beta. Results: The simultaneous multiple linear regression indicates that beta has a significant effect on stock portfolio performance. Meanwhile, accounting beta and fundamental beta partially affect the performance of Sharia stock portfolios, while fundamental beta and macroeconomic beta affect the performance of non-Sharia stock portfolios. The difference test between the two performances shows that there is no significant difference between Sharia and non-Sharia stocks. Keywords: Systemic risk, Return, Stock Portfolio Performance
Copyright (c) 2025 Atika Lusi Tania, Einde Evana, Trijoko Prasetyo https://creativecommons.org/licenses/by/4.0/
FAKTOR-FAKTOR YANG MEMENGARUHI PEMILIHAN PROGRAM STUDI DENGAN MINAT MAHASISWA SEBAGAI VARIABEL INTERVENING DI PERGURUAN TINGGI SWASTA DI JAKARTA
Introduction: The mismatch between interests and study program selection remains a challenge at many Private Universities (PTS) in Jakarta. This inaccuracy negatively impacts student enthusiasm for learning, academic achievement, and dropout rates. This study aims to analyze factors influencing the decision to choose a study program (Y), with Student Interest (Z) as an intervening variable. The independent variables used include Facilities and Service Facilities (X1), Education Fees (X2), Marketing Communication (X3), Lecturer Competence (X4), Job Prospects (X5), Self-Motivation (X6), and Family Support (X7) Methods: This study used a quantitative method, distributing questionnaires to 119 students at several private universities in Jakarta, and analyzed the data using multiple regression, classical assumption tests, the Sobel test, and the coefficient of determination (Adjusted R²). Results: The research findings show that Job Prospects (X5), Self-Motivation (X6), and Family Support (X7) impact students’ bias in choosing a study program, while other variables do not have a significant effect. The Sobel test indicates that Student Interest (Z) mediates only the influence of Self-Motivation (X6). The research model is valid with R² = 0.733 and Adjusted R² = 0.713. These findings confirm the importance of motivation, family support, and job prospects in students’ academic decisions. Conclusion and suggestion: Job prospects, self-motivation, and family support significantly influenced the decision to choose a study program, while other factors did not. Student interests did not mediate the effect of self-motivation. Universities need to strengthen career guidance and emphasize job prospects to facilitate informed study decisions. Keywords: Five words, Alphabet
Copyright (c) 2025 Ade Caswito, Lisdiana, Taufik Hidayat, M. Thufail Abdullah, Nabila Asyifa Qalbi https://creativecommons.org/licenses/by/4.0/
PREFERENSI PELAKU USAHA PADA E-COMMERCE TERHADAP LAYANAN LAST MILE DELIVERY
Introduction: Last-mile delivery is the critical final stage of the logistics chain, delivering goods from local distribution centers to end consumers and playing a pivotal role in customer satisfaction. To maintain buyer satisfaction and loyalty, e-commerce merchants must select courier service providers with established reputations and proven reliability. This study examines seller preferences regarding courier services, explicitly focusing on last-mile delivery operations. Methods: This research engaged a quantitative approach applying survey methodology. Data collection was conducted through both offline and online questionnaire distribution. The sample comprised 187 e-commerce store owners domiciled in East Java Province, Indonesia. Data analysis was performed using SmartPLS. Results: The findings reveal that performance expectancy in delivery reliability, delivery mode, and delivery cost significantly influences intention to use courier services. Performance expectancy in delivery time emerged as the most dominant factor, demonstrating significant effects both directly on intention to use and indirectly through performance expectancy in delivery cost as a mediating variable. Conversely, performance expectancy in the delivery area did not significantly affect intention to use. Conclusion and suggestion: The findings underscore that courier service providers must prioritize delivery reliability, cost efficiency, mode flexibility, and delivery speed, as these factors constitute primary considerations for e-commerce sellers when selecting last-mile delivery services for customer fulfillment. Future research should expand the scope of investigation and conduct segmented analysis by categorizing sellers by e-commerce platform. The inclusion of variables such as platform-specific internal policies is warranted, given that specific e-commerce platforms operate proprietary integrated logistics services. Keywords: Last-mile, Delivery, Customer, Preference, Service
Copyright (c) 2025 Ika Rachmawati, Adiguna Sasama Wahyu Utama, Nafisah Ruhana https://creativecommons.org/licenses/by/4.0/
Kinerja Keuangan Sebelum dan Sesudah Penerapan PSAK 72 pada Perusahaan Subsektor Telekomunikasi yang Terdaftar di BEI Periode 2017-2022
Introduction: in this study focuses on evaluating how the enforcement of PSAK 72, the Revenue from contracts with customers standard, has shaped the financial results of firms in Indonesia’s telecommunications industry traded on its stock exchange. PSAK 72, effective January 1, 2020, replaced PSAK 23 by introducing a five-step revenue recognition model aimed at improving transparency and comparability, which may affect financial ratios. The research seeks to determine whether the levels of profitability, liquidity, and asset efficiency experienced notable changes between the periods preceding and following the implementation of PSAK 72. Methods: In this quantitative comparative study, secondary data were compiled from publicly released financial reports of 13 telecommunications-related firms spanning 2017 through 2022. In this research, financial performance is evaluated using four key metrics: GPM (Gross Profit Margin), NPM (Net Profit Margin), CR (Current Ratio), and TAT (Total Asset Turnover). Data analysis includes descriptive statistics and normality testing, and applies the Wilcoxon Signed Rank Test to assess differences between the pre-implementation period (2017–2019) and the post-implementation period (2020–2022). Results: GPM (p = 0.944) and NPM (p = 0.12) did not differ significantly, whereas CR (p = 0.013) and TAT (p = 0.021) showed significant changes, indicating that PSAK 72 influences liquidity and asset utilisation but not profitability. The findings suggest that applying PSAK 72 influences certain aspects of financial performance, offering insights that management, investors, and regulators can utilise to understand better the financial reporting implications of the new revenue recognition standard. Keywords: PSAK 72, Financial Performance, Gross Profit Margin, Net Profit Margin, Current Ratio, Total Assets Turnover
Copyright (c) 2025 Ayu Anjelina Siregar https://creativecommons.org/licenses/by/4.0/