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This study examines the determinants of the Jakarta Composite Index (JCI) based on three main macroeconomic factors namely inflation, the USD/IDR exchange rate, and the SBI interest rate (BI Rate) covering the period January 2020 to December 2025, in the context of post-COVID-19 pandemic recovery and global economic turmoil. A quantitative approach was employed using the Ordinary Least Squares (OLS) method, with 72 monthly observations derived from secondary data sourced from official institutions including Bank Indonesia (BI), the Central Statistics Agency (BPS), the Indonesia Stock Exchange (IDX), and the Financial Services Authority (OJK). Classical assumption tests were applied comprising the Jarque-Bera normality test, Variance Inflation Factor (VIF) for multicollinearity, Breusch-Godfrey for autocorrelation, White Test for heteroscedasticity, and Ramsey RESET for model specification. Partially, inflation, exchange rate, and BI Rate each demonstrate a positive and significant effect on the JCI (p < 0.05). Simultaneously, all three variables exert a significant combined influence on the JCI, with a coefficient of determination R² = 0.4414, indicating that the model explains 44.14% of the variation in the JCI. The remaining 55.86% is attributed to other variables outside the model. Classical assumption test results reveal violations of normality, autocorrelation, and heteroscedasticity assumptions, although the model is free from multicollinearity. These findings confirm that Bank Indonesia's monetary policy has a significant and measurable impact on capital market performance. Further research is recommended using more advanced time series models such as GARCH or VECM to address violations of classical assumptions and improve estimation efficiency.

This quantitative study, involving 135 respondents, aims to analyze the influence of work efficiency and income on the welfare level of members of the Women Farmer Group (KWT) in X Koto Singkarak Sub-district. Data were collected through structured questionnaires and analyzed using multiple linear regression, t-tests, and F-tests to determine both partial and simultaneous effects of the independent variables on welfare. The results of the t-test reveal that work efficiency (X1) does not have a significant partial effect on the welfare of KWT members (Y), as indicated by a t-value of -1.817, which is lower than the t-table value of 1.977, and a significance level of 0.071, which exceeds 0.05. Conversely, income (X2) demonstrates a strong and significant partial effect on welfare, supported by a significance value of 0.000, which is lower than 0.05, and a t-value of 13.561, which is higher than the t-table value of 1.977. Furthermore, the simultaneous F-test confirms that work efficiency and income collectively have a significant effect on the welfare level of KWT members, with an F-value of 98.319 exceeding the F-table value of 19.490 and a significance level of 0.000. These findings indicate that increasing income plays an important role in improving welfare.

This study examines the influence of technology utilization, records management, infrastructure, and training on employee performance at the Regional Financial and Asset Management Agency (BPKAD) of Batam City. A quantitative approach with an associative design was employed to identify relationships between variables and measure their effects. The study involved 89 employees as respondents using a saturated sampling method to ensure all members of the population were included. Data were collected through structured questionnaires and analyzed using multiple linear regression along with F-test and t-test to assess both simultaneous and partial effects. The findings reveal that all independent variables simultaneously have a significant impact on employee performance, while individually technology, records management, infrastructure, and training also demonstrate significant positive effects. These results indicate that the effective use of digital systems, well-organized archival practices, adequate and supportive facilities, and continuous training programs play a crucial role in enhancing employee performance and productivity, as well as improving efficiency, accuracy, and overall organizational effectiveness. The study suggests that organizations should strengthen technological implementation, improve document management systems, provide sufficient work facilities, and conduct sustainable training programs to achieve optimal and long-term organizational outcomes.

This paper examines the shift in the economic paradigm in Indonesia through digitalization, driven by the Fourth Industrial Revolution and the transition towards Society 5.0. The people's economy based on SMEs faces significant new challenges and opportunities in this era. Using a literature approach and case studies, this article highlights how information technology plays a role not only as a marketing tool but also as an instrument to strengthen economic sovereignty in accordance with the mandate of Article 33 of the 1945 Constitution. The findings indicate that the success of digital transformation depends on the synergy between supportive government policies, private sector innovation, and the adaptability of SME actors. In facing global challenges, the proposed strategy includes strengthening digital literacy for all levels of society and protecting the domestic market from the influx of foreign products that could threaten the sustainability of SMEs. This is crucial to ensure the future resilience of the national economy while also promoting the sustainable growth of the SME sector. Thus, digitalization is not only an efficiency solution but also a key factor in reinforcing Indonesia's people-based economy in the globalization era.

The healthcare sector is increasingly confronted with a VUCA environment (Volatility, Uncertainty, Complexity, and Ambiguity), requiring hospitals to adopt adaptive, resilient, and innovative strategies. This study aims to systematically review the evidence on smart hospital strategies in responding to uncertainty, particularly in improving service quality, operational efficiency, and patient satisfaction. A systematic literature review was conducted using major academic databases, including Scopus-indexed sources, Google Scholar, and Semantic Scholar, covering publications from 2020 to 2026. Articles were selected based on predefined inclusion criteria focusing on hospital management strategies in dynamic and uncertain environments. A total of 10–15 relevant studies were included and analyzed using thematic synthesis. The findings indicate that key strategies in addressing VUCA challenges include digital transformation (e.g., electronic medical records and telemedicine), adaptive and transformational leadership, agile management approaches, and patient-centered care. Digital technologies significantly improve efficiency and decision-making processes, while agile and adaptive leadership enhances organizational responsiveness and resilience. However, several studies highlight that technological advancement alone is insufficient without integrating humanistic values such as empathy, communication, and trust. In conclusion, the most effective hospital strategies in a VUCA world are those that integrate technological innovation with human-centered care. Hospitals must develop flexible, data-driven, and patient-oriented systems to ensure sustainability and competitiveness in uncertain environments. Future research should focus on longitudinal and experimental designs to strengthen causal evidence and explore the integration of digital systems with humanistic healthcare values.

This study aims to analyze the financial performance of the East Java Provincial Government based on the Budget Realization Report (LRA) for the 2022–2024 period. This study is important to assess the effectiveness of revenue achievement and the efficiency of regional expenditure management. The research method used is quantitative descriptive with secondary data in the form of Budget Realization Reports obtained through documentation techniques. Data analysis was performed using financial ratio analysis, namely effectiveness and efficiency ratios. The results show that the revenue performance of the East Java Provincial Government is in the highly effective category, as reflected in the realization of revenue that was able to reach and even exceed the budget target. However, regional expenditure performance is still considered inefficient because the realization of expenditure is close to the set budget. The conclusion of this study shows that even though revenue optimization has been achieved, the local government still needs to improve expenditure control so that regional financial management becomes more efficient in the future.

This study aims to measure the financial performance of the Government of West Java Province during the 2020–2024 period based on the analysis of the audited Budget Realization Reports. The research uses a descriptive quantitative approach with secondary data obtained from the Regional Financial Statements. Financial performance is measured through several ratios, namely the effectiveness ratio of Regional Original Revenue, regional financial efficiency ratio, regional financial independence ratio, and expenditure harmony ratio. The results show that the effectiveness of Regional Original Revenue fluctuated, with effective performance only in 2022 and 2024, while in other years it was categorized as ineffective. The efficiency ratio also indicated inconsistency, where inefficiency occurred in 2020, 2021, and 2023, and efficiency was achieved in 2022 and 2024. The regional financial independence ratio showed a relatively high level, reflecting low dependence on central government transfers, although there was a slight decline in 2023–2024. The expenditure harmony ratio indicated that budget allocation was still dominated by operational expenditure compared to capital expenditure. The findings imply the need for improving revenue optimization and more balanced expenditure allocation to support sustainable regional development.

Regional government financial performance is a strategic indicator for assessing the success of regional autonomy implementation, particularly in managing public finances in an effective, efficient, transparent, and accountable manner. This study aims to analyze the financial performance of the Government of West Nusa Tenggara Province (NTB) during the 2018–2022 period using a regional financial ratio analysis approach. The research employs a descriptive quantitative method utilizing secondary data obtained from the Budget Realization Reports (LRA) and the Regional Government Financial Statements (LKPD) that have been audited by the Audit Board of the Republic of Indonesia (BPK). The analysis is conducted by calculating regional financial ratios, including the financial independence ratio, the effectiveness ratio of Regional Original Revenue (PAD), the efficiency ratio of regional finances, the activity ratio (expenditure harmony), and the revenue growth ratio. The results indicate that the financial performance of the Government of West Nusa Tenggara Province has generally improved. The regional financial independence ratio falls within the participatory category with an average value of 57.81%, reflecting a gradual reduction in dependence on central government transfer revenues, particularly in 2022. The effectiveness ratio of PAD is categorized as moderately effective, with an average of 92.84%, although it fluctuates due to increases in revenue targets that were not fully matched by actual revenue realization. The regional financial efficiency ratio consistently remains in the efficient category, indicating the local government’s ability to control expenditures relative to revenues. Furthermore, the activity ratio analysis shows a shift in expenditure composition from operating expenditure toward capital expenditure, indicating an increased orientation toward development and long-term investment. The growth ratio reveals a significant increase in PAD in 2022, accompanied by a decline in transfer revenue growth.

This study aims to review the perspectives of MSME owners in the Gonilan area, particularly regarding part-time workers and their use in improving operational cost efficiency. The Gonilan area is known to have many MSMEs operating in various sectors, making this study relevant for understanding the challenges they face. A qualitative method was chosen so that the researcher could conduct in-depth interviews with three MSME owners. The informants were selected because they employed both full-time and part-time workers. The interview results showed that part-time workers were effective in reducing operational costs, such as more flexible hourly wages, although there were some disadvantages. The main disadvantages of part-time workers included lack of experience and limited working hours, which could be overcome through extra training and clear task distribution so that they could focus and increase productivity. The study concluded that the use of part-time workers has a significant impact on the operational cost efficiency of MSMEs, helping owners navigate the market without excessive financial burdens and encouraging long-term business growth.

This article discusses the transformation of international payments that continues to develop along with technological advances and increasing needs for efficiency, speed, and security in conducting cross-border transactions. This development is marked by the innovation of international payments with the existence of CBDC (Central Bank Digital Currency) and its integration with fintech, as a digital currency issued by the Central Bank. In this study, the research method used is a qualitative descriptive method. Where data can be obtained through informal group discussions, literature studies, and from various sources of information related to the transformation of international payments, CBDC, and the fintech ecosystem. The results of the study show that there has been a transformation of international payments that started from manual or cash transactions, until now it can carry out digital payment transactions using CBDC payment innovations. However, there are challenges or risks in using CBDC, namely related to data security and privacy, new financial technology regulations, changes in consumer behavior, and financial stability risks. This article is expected to provide insight for industry players to be able to utilize the potential of CBDC and fintech in building a more modern and sustainable international financial system.

This study aims to analyze the impact of Return on Equity (ROE), Return on Assets (ROA), and Earnings Per Share (EPS) on firm value in the tobacco sector companies listed on the Indonesia Stock Exchange (IDX). The results show that a high ROE, as seen in HMSP, reflects efficient equity management and positively contributes to increased firm value, while low ROE in GGRM and ITIC indicates inefficiency. ROA analysis reveals that all four issuers have very high average ROA, indicating efficiency in utilizing assets to generate profits. Regarding EPS, the increase in ITIC and WIIM reflects improved financial performance, whereas the decline in EPS at GGRM and HMSP may reduce investor attractiveness. Overall, the study concludes that ROE, ROA, and EPS are important indicators influencing firm value, although they should be considered along with other external factors for a more comprehensive understanding.

Financial management is one of the key factors in determining the success of a company, especially for Micro, Small, and Medium Enterprises (MSMEs) in the digital era. This study aims to analyze the literature that discusses the influence of financial management practices on MSME performance, considering the role of digital technology in financial management. This study explores key aspects of financial management, such as financial planning, budget control, cash flow management, and investment, and how the application of technology can improve its efficiency and effectiveness. The results of the study show that the use of digital technology, such as cloud-based accounting applications and digital payment systems, can improve the accuracy and speed of financial management, which ultimately has a positive impact on MSME performance. This study provides important insights for MSME actors and policy makers in integrating digital technology to strengthen financial management and improve business competitiveness.  

This study aims to analyze the calculation of Cost of Goods Manufactured (COGS) and sales strategies at MSME Boembu Rumah Catering. Using a direct interview method with the business owner, this research explores the components of production costs which include raw materials, labor, and overhead costs. The results showed that Boembu Rumah Catering was able to determine a competitive and efficient selling price, thus achieving a profit of 98%. In conclusion, accurate COGS calculation and proper understanding of cost components can improve the efficiency and profitability of MSME businesses, while strengthening competitiveness in the catering market.  

PT Aaron Innovation is a company that focuses on marketing yummys mother and child products, such as breast milk, maternity food, and baby skincare. With the wider reach of consumers through the TikTok platform, the company faces the challenge of increasing product return rates. This study aims to optimize the product return process at PT Aaron Innovation by identifying and implementing strategies that can increase operational efficiency, reduce costs, speed up and improve the accuracy of return handling, and increase customer satisfaction. This study uses a descriptive qualitative approach with a survey method, collecting data through direct observation and interviews with sources. The results showed that the current returns system is not optimal, with ineffective SOPs and a lack of special areas for returns handling, causing delays and irregularities in handling returned products.

This research explores increasing the efficiency of network resource use through load balancing techniques. Load balancing distributes workload evenly among servers to optimize resource usage, maximize throughput, and minimize response time. We compare various load balancing algorithms, such as round-robin, least connections, and least response time, in various network scenarios. Experimental results show that proper load balancing techniques can reduce response time by up to 30% and increase resource usage efficiency by up to 40%. This study highlights the importance of selecting appropriate algorithms based on network traffic and workload characteristics. Implementing effective load balancing strategies can improve the quality of network services and ensure even distribution of workloads, providing practical guidance for network administrators to optimize network performance and efficiency.

An increase in company value will make investors believe that the company is able to manage its performance in future prospects. From the background of the problem. The importance of the information needed in determining company policy, which is useful for measuring the company. To find out whether the budget plan for the construction of the Bukit Mega Harmoni housing development at PT. Graha Mega Cendana Makassar is effective and efficient. The type of research used by researchers is descriptive qualitative. Based on the analysis of data from the research results and discussions that have been described, it can be concluded that in general the preparation of the budget plan for the construction of Bukit Mega Harmoni Housing by PT. Graha Mega Cendana in 2017-2019 was quite effective on average, although the overall level of cost efficiency was less than the expected target of 5%. The efficiency of direct costs for building materials was able to exceed the target of 5.32% because there were efforts to control the use of materials in the field, while for craftsman labor costs there was in-efficiency or inefficiency of -4.97% due to demands for increases. the cost of piecework wages for craftsmen during the course of project implementation. For overhead costs or indirect costs, the average efficiency is 20.36% and the most prominent is the efficiency in financial cost items of 32.56%. This occurs because of a decrease in the value of bank credit interest expenses as a result of smooth installment payments. credit and accelerated repayment of bank credit. However, on average, of all cost items, the cost efficiency of building Bukit Mega Harmoni Housing from 2017–2019 of 73 units was only 3.17%, this is because the comparison between the amount of efficiency funds and the total cost budget plan funds used is very small.

This research aims to analyze the influence of Internal Control Quality on Operational Efficiency. The population in this research is the company PT Bank Sumut in 2021-2023. Data was taken from the financial reports of selected companies by sampling using the questionnaire distribution method. The approach used in this research is quantitative associative analysis. The data analysis technique uses simple linear regression analysis. The research results show that the Quality of Internal Control has an impact on Operational Efficiency.

. Business mergers are carried out with many goals, including increasing company profitability and efficiency. This research contains the application of business combination accounting to the merger of PT Indosat Ooredo Tbk. with PT Hutchison 3 Indonesia with the implementation of PSAK 22. The aim of this research is to determine the impact of business combinations on company performance and income. The research method used is a literature study of journals, websites and previous articles. The results of this research include an overview of the application of business combination accounting and its impact on company performance and income. Through financial performance analysis carried out using ROA, ROE, PER and NPM, the results show a rapid increase after the merger of PT Indosat Ooredo Tbk. with PT Hutchison 3 Indonesia. This research encourages companies to maintain their achievements and maintain the trust of investors and customers.

The role of Information and Communication Technology (ICT) in increasing the efficiency of organizational support systems is becoming increasingly important. In the ever-changing business world, ICT has a key role in optimizing organizational operations and its ability to adapt to change. This research analyzes various aspects of the role of ICT in the context of the efficiency of organizational support systems. By referring to the latest literature and through relevant case studies, this research identifies that ICT enables business process automation, increased access to information, improved internal communication, and support in more timely decision making. Through the implementation of software, database management systems, collaboration tools, and data security strategies, ICT helps organizations reduce manual work, increase productivity, and reduce operational costs. In a digitally connected global context, ICT also enables organizations to be more responsive to changes in the market and regulatory requirements. This research states that ICT is a valuable asset in improving the efficiency of organizational support systems. With a commitment to intelligently integrating ICT, organizations can become more competitive and flexible in facing continuous changes in the business world.

This research explores the optimization of network utilization to enhance the efficiency of Shariah Mobile Banking services for customers. The study delves into the theoretical framework of Shariah Mobile Banking, elucidating its customer benefits, technology, and the role of networks. Employing a qualitative research approach, the study aims to examine the efficiency of Shariah Mobile Banking services. The findings underscore the paramount importance of efficiency in Shariah Mobile Banking and highlight the pivotal role of network concepts in augmenting this efficiency. The discussion also identifies hurdles encountered in optimizing Shariah Mobile Banking services and proposes viable solutions to overcome these challenges. This research contributes valuable insights for financial institutions and providers of Shariah Mobile Banking services to improve their service efficiency through network optimization. Additionally, it broadens the understanding of the customer benefits derived from Shariah Mobile Banking. The outcomes are anticipated to inform strategies and actions aimed at enhancing the overall user experience of Shariah Mobile Banking for customers.