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This study aims to analyze the effect of family ownership and firm size on earnings management practices in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Earnings management has become a crucial concern as it may harm stakeholders due to financial statements that do not reflect the actual financial condition. Family ownership remains dominant in the ownership structure of companies in Indonesia, potentially influencing corporate accounting decisions, including earnings management practices. This research applies a quantitative method using secondary data from annual financial reports of manufacturing companies obtained from the official IDX website. The data analysis technique employed is multiple linear regression with the assistance of SPSS software. The results show that family ownership has a significant effect on earnings management, while firm size has no significant effect. Meanwhile, family ownership and firm size simultaneously have a significant effect on earnings management. These findings are expected to serve as valuable input for investors, regulators, and companies in enhancing financial reporting transparency.

This study is motivated by the increasing competition among cooperatives and the declining number of members at BMT Assyafi’iyah in recent years. This condition indicates the presence of various factors influencing people's decisions in choosing Islamic financial institutions. The purpose of this research is to analyze the influence of advertising, financial literacy, and personal selling on the decision to become a member of a savings and loan cooperative from the perspective of Islamic business principles. The research was conducted at BMT Assyafi’iyah, Sumberagung District, Pringsewu, involving 89 respondents selected through purposive sampling. A quantitative approach was used with the Partial Least Squares-Structural Equation Modeling (PLS-SEM) method. Data were collected through questionnaires and analyzed using statistical techniques. The results show that advertising has no significant effect on membership decisions, while financial literacy has a significant influence, and personal selling is the most dominant factor. These findings suggest that financial understanding and direct interaction are more effective in attracting prospective members than advertising strategies.

This study aims to compare the effectiveness of the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) in predicting stock returns through a literature review of 30 relevant studies. The findings show that CAPM, which relies solely on market risk, is more frequently proven accurate (18 studies) compared to APT (6 studies), while the remaining studies found no significant difference. Financial behavior also plays an important role in enhancing the accuracy of both models. Overall, CAPM is more effective in stable market conditions, while APT is more suitable in complex economic environments. Model selection should be based on market conditions and investor needs.

In line with the rapid advancement of digital technology, the need for an efficient, integrated, and technology-based financial management system has become  critical, particularly for educational institutions such as STT-NF. The manual management of financial reports, especially cash flow statements used spreadsheets continues to pose significant challenges, including the risk of data entry errors, delayed reporting, and the lack of real-time visibility into the institution's financial condition. This study aims to develop a web application for cash flow monitoring system using the waterfall methodology to address these issues. The waterfall model was selected due to its systematic and structured approach. The system was developed using ReactJS for the frontend, NodeJS for the backend, and PostgreSQL as the database management system. To verify system functionality, testing was conducted using the black box testing method. The results of the testing indicate that all developed features of the cash flow monitoring system functioned according to the specified requirements and operated optimally. Therefore, the system is expected to provide tangible benefits in supporting the performance of the Finance Department at STT-NF as well as the foundation, by enhancing real-time financial visibility and delivering accurate information to facilitate faster & more informed decision-making.

Capital structure is a strategic decision made by companies in determining the combination of debt and equity financing. Financial market dynamics can influence companies' strategies for obtaining financing for expansion, operations, or financial restructuring. Companies have the flexibility to determine when and how to obtain financing by considering market conditions, a practice known as market timing. This study aims to examine the impact of market timing on capital structure and to determine the persistent long-term effects of market timing. The research focuses on non-financial companies that conducted an initial public offering (IPO) in 2020-2021, with a population of 105 companies. A purposive sampling technique was employed, using specific criteria, resulting in a sample of 65 companies. The data used are secondary data analyzed using multiple linear regression with panel data. The results indicate that market timing, measured by the market-to-book ratio, has a significant negative impact on capital structure. The study also shows that market timing, does not have a persistent impact on capital structure in the long term. Companies tend to take advantage of momentum when stock valuations are high by conducting initial public offerings, while in the long term, companies tend to make adjustments, so the impact of market timing does not last long.

Pregnancy is a critical phase in a woman's life that demands comprehensive support from her closest environment, especially from her husband. This study aims to describe the role of husbands in accompanying their wives during pregnancy, identify factors that influence the level of involvement, and understand the impact on the physical and psychological health of pregnant women. The research approach used was qualitative with the type of phenomenological study, which was conducted in Kotabaru District, South Kalimantan. The main informants consisted of purposively selected pregnant women and postpartum mothers, complemented by triangulation from husbands, health workers, and community leaders. Data were collected through in-depth interviews, non-participatory observation, and documentation, and analyzed thematically. The results showed that husbands' assistance included involvement in pregnancy check-ups, assistance with household chores, provision of financial and emotional support, and roles in preparing for childbirth. However, this involvement was influenced by the husband's knowledge, culture, communication, and working conditions. Intact support from husbands was shown to have a positive impact on pregnant women's sense of comfort, confidence, mental readiness, and physical health. This study emphasizes the importance of holistic involvement of husbands in the pregnancy process and the need for a family and culture-based approach in preparing for childbirth.

Empty oil palm bunches processed by palm oil mills in Indonesia are still abundant, reaching 56.35 million tons per year. Empty oil palm bunches contain around 40% cellulose, so they can still be used for various derivative products, one of which is composite products. The use of empty oil palm bunches as raw materials for Bioplastic production is a series of ongoing research, one of which is starch-cellulose blend, but until now it has not been successfully commercialized. The design of the starch cellulose blend bioplastic industry using palm oil as raw material produces two factories, namely a cellulose factory and a composite bioplastic factory. Both factories are designed in separate buildings. The separation of cellulose from TKKS uses a chemical method with soda, after mechanical treatment of size reduction. The industry is designed in 3 scales of production capacity, namely a large scale of 190,000 tons / year, medium 115.00 tons / year, and small 40,000 tons.year. The financial analysis of the three scales of production capacity as a whole is declared feasible. Profit margin is calculated at a minimum of 17.6%. The average payback period is between 3-5 years with an IRR of 24-49%. Analysis of the economic value produces an EScale index of 0.64 which indicates that the economic scale has been achieved. The economic scale of the starch cellulose blend bioplastic industry from TKKS is at a production capacity of 40,000 tons per year with a minimum supply of TKKS raw materials of 20,203 tons/year. At the smallest economic scale, the BEP is actually only 6627.4 tons/year, where this condition can be achieved because the industry has relatively small fixed costs.

The development of the digital era brings new challenges and opportunities for micro businesses, especially in pricing bamboo handicraft products in Lembur Awi. The phenomenon of easy access to information and digital marketing makes it easier for consumers to compare prices, so pricing strategies become a crucial factor in maintaining business competitiveness. This study aims to analyze the pricing strategy applied by bamboo handicraft micro businesses in Lembur Awi, identify factors that influence pricing, and understand the influence of digital platforms on the pricing strategy. The research method used was a qualitative approach with a case study, involving in-depth interviews, observation and documentation as data collection techniques. The results showed that businesses use a pricing strategy based on the calculation of production costs adjusted to market conditions and digital competition. The utilization of digital platforms such as social media and e-commerce provides opportunities to expand the market while demanding adaptation of pricing strategies that are more flexible and responsive. Good financial management and integrated administrative systems also play an important role in making effective pricing decisions. This research concludes that a combination of costing, utilization of digital technology and product innovation is key to the success of bamboo craft businesses in the dig era.

This study aims to analyze the comparison of solvency levels and claim payment abilities between two general insurance companies in Indonesia, PT Asuransi Dayin Mitra Tbk (ASDM) and PT Asuransi Jasa Tania Tbk (ASJT), considering the macroeconomic conditions in 2023. The methods used are qualitative and quantitative comparative analyses based on the audited financial statements and annual reports of both companies, as well as a review of macroeconomic data from official sources. The findings indicate that ASDM and ASJT managed to achieve positive performance despite economic challenges, with ASJT recording higher growth in premiums and net income. Both companies maintained solvency ratios above regulatory thresholds and controlled claims ratios. Business strategy adaptation, sound governance, and effective risk management contributed to these achievements. Macroeconomic factors such as inflation, interest rates, and exchange rates were found to influence the performance of both companies, with varying levels of sensitivity depending on their market segment focus. These findings provide valuable insights into the dynamics of the insurance business in Indonesia and highlight opportunities and challenges that industry stakeholders need to anticipate..

Bankruptcy is a condition where a business cannot operate effectively due to severe financial difficulties it is currently experiencing.  This research purposes to analyze the ratio of the Altman, Springate, and Grover models in analyzing bankruptcy in food and beverage corporations listed on the IDX with reference to signaling theory. The data analysis approach used are One Way Anova test and accuracy level test. Using 20 company samples with purposive sampling method. The final proceeds of the research explain that there are significant differences between the Altman and Springate models, significant differences between the Altman and Grover models, and no significant differences between the Springate and Grover models in predicting bankruptcy in food and beverage companies for the period 2019-2023. The very accurate prediction model was achieved by the Grover model.

This community service program focuses on transforming financial management at Pharmacare Pharmacy Ciputat through the integration of digital accounting and strengthening human resource (HR) management. The background to this activity stems from the problem of partners who still rely on manual recording for financial transactions, inventory management, and report preparation. This condition results in inefficiency, late reporting, potential recording errors, and difficulties in strategic decision-making. In addition, limited HR competency in the use of digital accounting technology and the absence of financial standard operating procedures (SOPs) are major obstacles to improving organizational performance. The main objective of this activity is to implement an integrated digital accounting system capable of producing real-time financial reports, increasing inventory management efficiency, and building transparent financial governance. Simultaneously, employee competency is improved through intensive training and mentoring in the use of accounting software and the preparation of financial SOPs. The involvement of students and faculty in this activity aligns with the spirit of Independent Learning and Independent Campus (MBKM) and supports the achievement of the university's Key Performance Indicators (IKU), particularly in providing off-campus experiences and utilizing work results for the community. Through this program, it is hoped that Pharmacare Ciputat Pharmacy can improve operational efficiency, strengthen business sustainability, and provide more optimal healthcare services. More broadly, this activity contributes to community economic empowerment by strengthening the capacity of small businesses in the healthcare sector.

This study examines the influence of leverage, profitability, and capital structure on earnings management in consumer non-cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the period 2019–2023. Earnings management has become a central issue in financial reporting, as it reflects managerial discretion in presenting financial information that may not fully align with the company’s actual economic condition. Understanding the determinants of earnings management is therefore essential to enhance transparency, credibility, and stakeholder trust in corporate financial reports. The research employed a quantitative approach using multiple linear regression analysis, with data processed through SPSS version 25. The sample consisted of 104 company-year observations, which were selected using purposive sampling techniques and subsequently refined through outlier testing to ensure data validity and reliability. The independent variables analyzed were leverage, profitability, and capital structure, while earnings management served as the dependent variable. The empirical findings demonstrate that leverage and profitability exert a significant influence on earnings management practices. Specifically, companies with higher leverage tend to engage in earnings management as a mechanism to meet financial obligations and reduce the risk of violating debt covenants. Similarly, higher profitability motivates managers to manipulate earnings in order to sustain investor confidence and maintain a favorable corporate image. In contrast, capital structure is found to have no significant effect on earnings management, indicating that financing decisions between debt and equity may not directly influence managerial behavior in financial reporting. These results highlight the importance of monitoring leverage and profitability indicators as potential predictors of earnings management. For corporate management, the findings suggest the need to implement stronger internal control systems and uphold ethical financial practices. For investors and regulators, the study provides useful insights into assessing company performance beyond reported earnings, thereby supporting more informed decision-making and promoting the integrity of capital markets.

Price fluctuations in agricultural commodities, including cocoa, are a common phenomenon that can be influenced by a variety of factors such as global market demand, seasonality, production volume, weather conditions, and product quality. These dynamic changes in prices can create uncertainty and directly impact the economic stability of farming households, especially in rural areas where agriculture is the primary source of income. This study aims to analyze the effect of cocoa price fluctuations on the welfare level of farmer households in Kaleok Village, Binuang Sub-district, Polewali Mandar Regency. The research adopts a descriptive quantitative approach with a field survey method to capture the lived experiences of cocoa farmers facing price instability. Primary data were gathered using a structured questionnaire based on a Likert scale from 74 respondents, selected through the Slovin formula to ensure representativeness. The data were analyzed using simple linear regression to determine the relationship between price volatility and welfare indicators such as income stability, access to education, healthcare, housing conditions, and overall quality of life. The findings reveal that cocoa price fluctuations significantly affect the welfare of farmer households. Higher fluctuations tend to reduce income certainty, limit household spending, and hinder long-term economic planning. These results emphasize the need for policy interventions such as price support mechanisms, farmer cooperatives, access to market information, and financial literacy programs. Ensuring price stability and strengthening institutional support could play a vital role in improving the economic resilience and living standards of cocoa farmers. This study contributes to the broader discourse on rural development, agricultural economics, and poverty reduction in Indonesia.

Investment activities in the modernization era are an economic activity that is of great interest to society, especially young people, whose development is very vulnerable to general macroeconomic conditions. And to secure the money and to maintain economic stability, especially now that inflation is very large which has an impact on economic stability. This research aims to discuss saving from a hadith perspective. The formal object of this research is the understanding and urgency of investment which is formulated based on hadith themes. The material object of this research is an investment case within the theoretical framework of investment from a hadith perspective. The results of this research show that hadith themes can be formulated within the theoretical framework of investment from a hadith perspective. The discussion of this research explains that investment is relevant to economic aspects, financial aspects and the influence of a person which includes and explores information, exploration of something he feels he needs. This research data was obtained from various sources, namely the Indonesian Stock Exchange website, Bank Indonesia, Central Statistics Agency (BPS) and Digital Hadith. The conclusion of this research is that the theoretical behavior of investment can have positive and negative impacts as well as the implementation of investment in life which is formulated in the hadith thematic framework in line with the era of modernization.

Bank BTN Syariah Bekasi Branch is one of the Islamic banking institutions operating in Indonesia and plays an important role in providing sharia-based financial services. In running its business, this bank faces various challenges, one of which is the achievement of work targets by employees who are not optimal. The results of the performance assessment show that employee performance is still relatively low. This condition is allegedly influenced by low work motivation and leadership style that has not been able to drive maximum productivity, thus impacting operational effectiveness and achieving overall company goals. The purpose of this study is to determine the influence of leadership style and work motivation on the performance of employees of Bank BTN Syariah Bekasi Branch, the research data sources used include primary data and secondary data, the type of research data is quantitative, the number of respondents in the study is 56 respondents, the data processing method used, descriptive analysis, multiple regression analysis, determination coefficients and hypothesis tests. Based on the results of the study, it shows that the leadership style variable has a positive influence on employee performance. Meanwhile, work motivation has no effect on employee performance. Simultaneously, there is an influence of leadership style and work motivation on employee performance. This can be proven based on the recorded F value of 43,883. which means it is greater than the F value of the table of 3.175. (43,883 > 3,175). In addition, the resulting significance value is 0.000, which is smaller than the significance level of 0.05 (0.000 < 0.05).  

This study aims to analyze the influence of Return on Assets (ROA), Return on Equity (ROE), Debt to Equity Ratio (DER), and Earnings Per Share (EPS) on the level of underpricing in companies conducting an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) during 2022. Underpricing, a condition where the initial offering price of a stock is lower than its secondary market price, is a critical concern as it can affect the effectiveness of capital raising through IPOs. Using data from non-financial companies that went public in that year, this research identifies financial factors contributing to the level of underpricing and their implications for investors and companies. This study employs a quantitative descriptive research method. The objects of this research are companies that conducted IPOs on the IDX. The population consists of 57 companies, and the sample includes 52 companies that meet the specified criteria. The data analysis is conducted using SPSS software. The results show that ROA has a negative but not significant effect on underpricing, ROE has a negative but not significant effect on underpricing, DER has a negative but not significant effect on underpricing, while EPS has a positive and significant effect on underpricing. Simultaneously, ROA, ROE, DER, and EPS have a significant effect on underpricing.

This studyaims to examine the economic activities of low-income communities and identify factors that influence these activities in Tamaila Utara Village,Tolangohula Sub-district,Gorontalo Regency. The study employed a qualitative method using a systematic approach. Data collection techniques included observation, interview, and source triangulation.Data analysis involved data reduction followed by drawing conclusions. The findings indicate that most low-income residents in Tamaila Utara rely on agriculture, particularly corn farming, as their primary livelihood. Farming activities are supported by family members due to limited financial capacity to hire labor, and the tools used are still very simple or traditional. For crop distribution,the community depends on local traders who offer prices significantly lower than market rates, due to limited transportation access to larger markets. In terms of consumption,residents can only meet their basic needs, with low nutritional intake due to minimal income. Other challenges to improving the local economy include water scarcity during the dry season, low educational attainment among farmers,lack of government-provided training, and unpredictable weather and environmental conditions. Therefore,government support is urgently needed,such as irrigation development, agricultural training, and the provision of modern tools or technology to enhance community welfare in the future.

This study aims to analyze the effect of company size, profitability, investment, and free cash flow on dividend payment policy in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2021 period. The research method used is a quantitative approach with multiple linear regression analysis techniques. The sample in this study consisted of 25 manufacturing companies selected through a purposive sampling method based on certain criteria. The results of the study indicate that company size, investment, and free cash flow have a positive and significant effect on dividend payment policy. Meanwhile, profitability has a negative and significant effect on dividend payment policy. This finding indicates that dividend payment policy is more influenced by the financial and liquidity aspects of the company, not solely by the level of profitability. This study implies that companies need to consider internal factors such as size and cash flow in formulating dividend policies, especially in uncertain economic conditions.

The 2024 National Financial Literacy and Inclusion Survey shows that many Indonesians still do not understand financial fundamentals. This condition contributes to difficulty in managing personal finances. Therefore, financial education from an early age is needed to help people develop healthy financial habits. One effective medium for delivering financial education is a children’s savings book. However, most available savings books are less attractive and do not align with children’s preferences. This study aims to develop a children’s savings book design by integrating educational elements, such as a temporary money storage, based on users’ preferences. The Quality Function Deployment (QFD) approach was used to translate customer needs into product visualization. Data were collected through expert discussion, interviews, and questionnaires distributed using purposive sampling. The results show that the highest-priority feature for further development is the temporary money storage integrated into the book’s cover. This element was then incorporated into the children’s savings book design, while considering both functional and educational aspects.

In many developing countries today, the capitalist economic system still dominates. Not infrequently, this system causes various problems when applied in the governance of a country's economy. These problems generally arise because policies, regulations, and public financial management have not been directed at the principles of Islamic economics (sharia). In fact, the public economic system based on sharia provides guarantees for the fulfillment of state needs (income) and people's needs (expenditure). In addition, the rampant practice of misappropriation such as fraud and corruption has also caused the loss of public trust in public economic management. This condition contributes to the economic crisis and exacerbates the suffering of the people. Therefore, to solve these problems, the government needs to adopt a public economic concept based on Islamic values, because this system has been proven to be able to encourage justice and improve social welfare. This study uses a qualitative method with a literature study approach. The findings in the study indicate that there are various sources of income in the Islamic economy that can be utilized as public finances, such as Ghanimah, Fa'i, Jizyah, Kharaj, Waqf, Nawaib, Zakat, Infak, Sedekah, and 'Usr. Meanwhile, state expenditure is allocated to fulfill basic community needs, state defense and administration, education, social security, and development of infrastructure and public facilities.   Keywords: Capitalism, Economic system, Public sector In many developing countries today, the capitalist economic system still dominates. Not infrequently, this system causes various problems when applied in the governance of a country's economy. These problems generally arise because policies, regulations, and public financial management have not been directed at the principles of Islamic economics (sharia). In fact, the public economic system based on sharia provides guarantees for the fulfillment of state needs (income) and people's needs (expenditure). In addition, the rampant practice of misappropriation such as fraud and corruption has also caused the loss of public trust in public economic management. This condition contributes to the economic crisis and exacerbates the suffering of the people. Therefore, to solve these problems, the government needs to adopt a public economic concept based on Islamic values, because this system has been proven to be able to encourage justice and improve social welfare. This study uses a qualitative method with a literature study approach. The findings in the study indicate that there are various sources of income in the Islamic economy that can be utilized as public finances, such as Ghanimah, Fa'i, Jizyah, Kharaj, Waqf, Nawaib, Zakat, Infak, Sedekah, and 'Usr. Meanwhile, state expenditure is allocated to fulfill basic community needs, state defense and administration, education, social security, and development of infrastructure and public facilities.