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The participation of Muslim families in Indonesia’s capital market remains relatively low despite increasing access to financial instruments. This low level of stock ownership highlights the need to analyze the influencing factors. This study aims to examine the effect of socio-economic factors and religiosity on stock ownership decisions among Muslim families in Indonesia. The data used are panel data from the Indonesian Family Life Survey (IFLS) for the years 2007 and 2014, consisting of 32,074 observations from 16,037 household heads. The independent variables include gender, age, household size, income, education level, marital status, social expenditures, area of residence, employment status, and religiosity. The analysis was conducted using probit regression, supported by likelihood ratio tests, goodness-of-fit measures, and marginal effects analysis. The results show that most socio-economic and religiosity variables significantly influence stock ownership decisions. These findings indicate that the investment behavior of Muslim families is shaped by a combination of structural characteristics and religious values. The implications of this study may serve as a foundation for developing contextual and inclusive financial literacy policies.  

This study aims to analyze financial statements as a tool to assess the financial performance of PT Unilever Indonesia Tbk for the period 2020–2023. Using a descriptive quantitative approach, this research calculates key financial ratios, including liquidity ratios (current ratio), solvency ratios (debt to equity ratio), activity ratios (total asset turnover), and profitability ratios (net profit margin). The results show that the current ratio experienced a declining trend from 66.09% in 2020 to 55.16% in 2023, reflecting a weakening ability of the company to meet its short-term liabilities. The debt to equity ratio increased from 315.90% in 2020 to 392.85% in 2023, indicating a high dependence on debt financing. Meanwhile, the total asset turnover improved from 315.90% in 2020 to 392.85% in 2023, suggesting better efficiency in utilizing assets to generate sales. However, the net profit margin declined from 16.42% in 2020 to 12.26% in 2023, signaling a decrease in the company's effectiveness in converting sales into net profit. Based on these findings, PT Unilever Indonesia Tbk is advised to enhance the management of current assets, strengthen its capital structure by reducing reliance on debt, and thoroughly evaluate cost control and marketing strategies to improve profitability and ensure business sustainability in the future.   

This study examines how colonial power is articulated through the form, spatial layout, and symbolism of Bogor Palace, and how post-independence transformations in function and discourse shape its new identity. As a colonial architectural legacy, Bogor Palace holds historical significance and reflects power dynamics, cultural representation, and spatial acculturation in both colonial and postcolonial contexts. The research highlights the importance of reassessing colonial architecture as a medium for representing power and ideology, especially in buildings that remain national symbols. Using a qualitative approach with literature review and visual analysis, the study applies Michel Foucault’s theory of power and discourse to reveal embedded power structures, and Erwin Panofsky’s iconography and iconology to decode visual symbols and meanings. Findings show that the neoclassical European style of the palace reflects colonial dominance, yet its adaptation through local materials, construction techniques, and climate-responsive elements indicates a complex process of acculturation. Initially marginal, local culture becomes integrated into the building’s design. After independence, the palace was resemanticized from a colonial icon to a national emblem, illustrating a shift in identity and power narratives. Today, restoration efforts not only preserve its historical value but also reaffirm role as a dynamic cultural space shaping Indonesia’s collective memory.

The National Strategic Projects (PSN) launched by the Indonesian government aim to accelerate development and drive national economic growth. However, in practice, many of these projects overlap with customary territories that lack formal legal certainty. This legal uncertainty gives rise to various problems, such as agrarian conflicts, criminalization of indigenous peoples, and the loss of living space and cultural identity of local communities. This study aims to analyze the forms of legal uncertainty experienced by indigenous peoples in the implementation of PSN and its impact on the protection of their collective rights. Additionally, this study explores the relevance of the principle of legal pluralism as a normative foundation for reforming national development policies to be more inclusive and ensure legal certainty for indigenous peoples. The approach used is normative qualitative with a literature study of regulations, court decisions, and reports from civil society organizations. The results of the analysis show that the legal imbalance between state law and customary law is the root cause of the marginalization of indigenous peoples in large-scale national development projects. The principle of legal pluralism, which recognizes the existence of customary law as a legitimate legal system, can be an alternative approach in formulating future development policies. The application of legal pluralism enables the state to build a development model based on social justice, participation, and respect for legal and cultural diversity. Thus, policy reform based on legal pluralism is an urgent necessity in addressing the challenges of structural justice for indigenous communities amid the tide of national development.

The objective of this study is to examine and compare the financial performance of Islamic banks and conventional banks in Indonesia during the 2019–2023 period. This research is motivated by the rapid growth of the Islamic banking industry; however, its market share remains relatively small compared to conventional banks. The study evaluates various financial ratio indicators, including Return on Assets (ROA), Net Interest Margin (NIM), Capital Adequacy Ratio (CAR), BOPO, Non-Performing Loans (NPL), and Non-Performing Financing (NPF), using a quantitative approach and comparative method. Data were collected from the annual financial reports of several major banks selected through purposive sampling. The results of the analysis indicate that conventional banks generally outperform in terms of profitability and operational efficiency, as reflected in the ROA and BOPO ratios. On the other hand, Islamic banks demonstrate more stable financing quality and liquidity, as indicated by relatively stable NPF and FDR ratios. These performance differences stem from the distinct operational principles of the two banking systems: interest-based operations for conventional banks and profit-sharing principles for Islamic banks. The study concludes that a more comprehensive evaluation method, integrating both sharia compliance and financial elements, is essential to provide a fair and accurate assessment of bank performance. The findings are expected to be valuable for regulators, academics, and industry practitioners in formulating policies that support a more inclusive and sustainable banking system.

This study investigates how Islamic da’wah can serve as a strategic instrument in strengthening civic engagement within democratic societies. Civic engagement is the active participation of citizens in public life, including policy-making, government oversight, and involvement in solving social problems. It is a crucial element in maintaining a fair and participatory democratic system. In the context of Muslim communities, Islamic da’wah not only aims to convey religious teachings but also seeks to instill universal values such as justice, equality, consultation (shura), empathy, and social responsibility—principles that form the foundation of democratic life. This research uses a descriptive qualitative method with a library research approach. Data were gathered from secondary sources such as books, academic journals, and relevant articles related to Islamic da’wah, civic engagement, and democracy. This method was chosen to allow for a comprehensive and systematic analysis of the social function of da’wah without conducting field observations or direct interviews. The results of this study show that Islamic da’wah, when practiced contextually and inclusively, can build critical social awareness, encourage public participation, and strengthen constructive social dialogue. Digital da’wah, Islamic value-based social campaigns, and the proactive role of preachers as agents of change become key elements in bridging Islamic teachings with democratic values. Furthermore, participatory da’wah empowers marginalized groups to become more involved in public discourse. Therefore, Islamic da’wah emerges not only as a spiritual medium but also as a cultural force that supports the development of a just, democratic, and civilized civil society.

This study aims to analyze the profitability ratios of PT Blue Bird Tbk during 2021-2024 to evaluate its financial performance. The method used is ratio analysis, including Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). The results of the analysis show that all profitability ratios have increased significantly. GPM increased from 22.24% in 2021 to 32.33% in 2024, indicating efficiency in managing production costs. NPM also increased from 0.39% to 11.8%, indicating the company's ability to maintain higher net income. In addition, ROA and ROE increased from 7.48% to 19.30% and from 9.59% to 29.12%, respectively. These findings indicate that PT Blue Bird Tbk has successfully recovered from the impact of the COVID-19 pandemic and has positive growth potential in the future

This study aims to reveal the value of struggle in the novel The Darkest Side of Heaven by Brian Khrisna through a sociological literary approach. This novel reflects the lives of lower-class people in Jakarta who live under social, economic, and cultural pressures. This study uses a qualitative descriptive method with a literature study approach. Data are analyzed based on the content of the text that describes the values of the struggle of the characters in the novel. The results of the study show that there are two main values of struggle, namely the value of being willing to sacrifice and the value of never giving up. The value of being willing to sacrifice is reflected in characters such as Sobirin, Juleha, Kuncahyo, and a father who is willing to put aside self-esteem, comfort, and personal needs for the sake of his family. Meanwhile, the value of never giving up is seen from Juleha and Tomi's persistence in facing poverty, as well as Kuncahyo's spirit who continues to work hard even in inhumane conditions. This novel illustrates that the struggle of marginalized people is not only about survival, but also shows strong social values, such as love, sacrifice, solidarity, and optimism. This study confirms that literature functions as a mirror of social reality and a means to foster empathy and social awareness towards the lives of marginalized communities in big cities.

This research aims to examine how the predicted years in school and the unemployment rate influence labor force participation (TPAK) in Aceh Province. Across several cities and communities in Aceh, it employs secondary panel data from the Central Bureau of Statistics (BPS).  Panel regression analysis is done using the Random Effect Model (REM) approach in this study. The results show that TPAK is negatively and substantially affected by the unemployment rate, while the projected years of schooling have no significant statistical impact. TPAK changes are generally only marginally affected by either of these causes. The coefficient of determination reveals that the model explains only 8. 3% of the TPAK swings. Although education and unemployment are components of labor market behavior, other, more important variables are more crucial in influencing labor force participation in Aceh, as these results suggest.

Securities companies are one of the key pillars in the capital market system. The performance of securities companies can be influenced by dynamic market conditions, particularly the fluctuations of Bitcoin, Indonesia Composite Index (ICI), and gold prices. This study aims to analyze the influence of Bitcoin, ICI, and gold prices on the financial performance of securities companies in Indonesia. The financial performance is measured using the profitability ratio, Net Profit Margin (NPM). The sample consists of quarterly secondary data from 24 securities companies that meet the research criteria during the 2021–2024 period. The analytical method used is multiple linear regression after passing classical assumption tests. The results show that gold prices have a negative and significant effect on the NPM of securities companies, while Bitcoin and ICI had no effect. This indicates that an increase in gold prices tends to be followed by a decrease in the NPM of securities companies, and vice versa. This research is expected to assist the management of securities companies in formulating business strategies and risk management that are more responsive to fluctuations in Bitcoin, ICI, and gold prices.  

This article discusses the profit-sharing system as one of the main pillars in Islamic economics, focusing on its ideal concept, implementation, challenges, and development opportunities in Islamic financial institutions in Indonesia. This system is based on the principles of justice, partnership, and shared responsibility through mudharabah and musyarakah contracts. Although normatively acknowledged and regulated by Islamic finance fatwas and regulations, its practical application still faces various obstacles such as low Islamic financial literacy, weak supervision, and the dominance of fixed-margin-based products. Nevertheless, digital technology development, the potential of the MSME sector, and the strengthening of Islamic financial regulations and education provide significant opportunities to promote transformation toward a more inclusive and just financial system. Therefore, synergy among financial institutions, regulators, and society is required to optimally realize the implementation of the profit-sharing system in Islamic economic practices.

This study aims to analyze the effect of education level, occupation, income and product price on the level of cigarette consumption in Sukolilo District, Surabaya City. The type of research used is quantitative method. The data sources used are primary data obtained from distributing questionnaires to respondents of people who actively smoke in Sukolilo District and secondary data obtained from the Central Statistics Agency (BPS) and related agencies. The method of analysis used in this study is multiple linear regression analysis with the help of the SPSS for windows program version 25.0. The population and sample in this study were 81 respondents selected using non probability sampling technique, namely accidental sampling using Isac Michel formula with 10% margin of error. Data analysis was carried out using multiple linear regression, F test, T test, and coefficient of determination (R Square). The results showed that partially education, employment, income and product prices had a positive and significant effect on the level of cigarette consumption and the coefficient of determination was 89.2%. It is hoped that this information can provide benefits to the community in Sukolilo Subdistrict or can be input for local governments and policy makers in efforts to control cigarette consumption.

This study aims to analyze the character of Alina Suhita in the novel Hati Suhita by Khilma Anis using the Marxist feminist theory approach. The main focus of this study is to reveal how the patriarchal system and social class structure influence the position and experiences of female characters in the novel. The study uses qualitative methods with text-based content analysis techniques and a hermeneutic approach to interpret the meaning contained in the narrative. The results of the analysis show that the character Suhita experiences three main forms of oppression: stereotypes, subordination, and marginalization. These three forms reflect how women in a patriarchal society are negatively constructed, positioned lower than men, and excluded from public spaces and decision-making. However, Suhita also shows resistance to dominant structures through her intelligence, education, and active role in the Islamic boarding school. In the context of Marxist feminism, Suhita is a representation of women who experience double exploitation both as women and as part of a marginalized social class but also have the potential to be agents of change. This study emphasizes that literature can be a medium for understanding power relations in society as well as a tool for criticizing ongoing gender and economic inequality.

This article discusses the development strategy of Village-Owned Enterprises (BUMDesa) through the optimization of village land in Turi Village, Turi District, Lamongan Regency, as an effort to sustainably increase village income. The potential of village land, including agricultural, fishery, and marginal lands that have not been utilized optimally, serves as the main focus for economic development initiatives. A qualitative approach with case study methodology is employed to explore in-depth the strategies, challenges, and opportunities faced by Turi BUMDesa in managing these assets. The study emphasizes the importance of professional, innovative, and participatory asset management supported by collaboration among stakeholders such as local government, community members, BUMDesa managers, and the private sector. Through identifying unique land potential, market analysis, and developing innovative business models such as agro-tourism, integrated agriculture, and renewable energy, BUMDesa is expected to create productive and sustainable economic activities. The main challenges include low land utilization, limited institutional capacity, and minimal innovation in business management. Therefore, capacity building, innovative business development, and strengthening cooperation are key to the success of this strategy. The development of BUMDesa based on land optimization in Turi Village is expected to enhance local income, strengthen community economic independence, and open new employment opportunities for villagers. Overall, this article emphasizes that proper and innovative asset management is crucial for achieving sustainable village development and improving community welfare evenly.

The purpose of this research is to examine the variables that affect stock prices in the commerce and service and consumer products industries that are listed on the Indonesia Stock Exchange.  This research study is quantitative in nature.  The information was taken from annual and financial reports that were posted on the websites of the individual companies as well as the Indonesia Stock Exchange's official website (www.idx.co.id).  The population consists of all 137 consumer products, commerce, and service businesses that were listed on the Indonesia Stock Exchange between 2009 and 2013.  Seventy-seven businesses satisfied the sample requirements based on preset criteria.  Multiple linear regression analysis was used to examine the data.  The findings demonstrate that the three sets of variables—systematic risk, macroeconomic indicators, and firm fundamentals—all significantly and favorably affect stock prices at the same time.  Stock prices are positively and significantly impacted by the following factors, in part: Return on Equity (ROE), Earnings per Share (EPS), Book Value (BV), Net Profit Margin (NPM), and inflation.  In contrast, the market beta, GDP, exchange rate, and BI rate have no discernible effects, but the debt to equity ratio (DER) has a negative and substantial influence.  With an Adjusted R Square value of 62.4%, the study's independent variables may account for a significant portion of stock price fluctuations, with additional factors outside the model influencing the remaining 37.6%.

An advocate is a legal professional who provides legal services both inside and outside the courtroom based on statutory law. During the Dutch colonial era, legal representation by advocates was extremely expensive, making it accessible only to individuals of high social status. At that time, indigenous people, who were generally impoverished, could not afford legal representation. However, this situation has changed with the enactment of Law No. 16 of 2011 on Legal Aid. This law guarantees the constitutional right of every individual to receive free and quality legal assistance, especially for underprivileged communities, through Legal Aid Posts (Posbakum). Advocates working at Posbakum help marginalized individuals understand their rights, provide legal consultations, and prepare essential legal documents.

This literature review analyzes the transformative potential of digital learning media in revitalizing Indonesian traditional music, with a particular focus on Gambang Kromong innovation within the framework of Society 5.0. Traditional music, as the foundation of cultural identity, faces significant threats from globalization and modernization, resulting in declining interest, especially among the younger generation. This approach examines how digital technologies can serve as a catalyst for the preservation, learning and dissemination of traditional music, transforming it from a marginalized status to one of contemporary relevance. The report synthesizes existing literature to identify key trends, benefits derived from the use of technologies such as Digital Audio Workstations (DAWs), Virtual Reality (VR), Augmented Reality (AR), Artificial Intelligence (AI), gamification, and online and social media platforms. In addition, the report discusses inherent challenges, including the digital divide, the need for increased educator competencies, and intellectual property rights issues, while highlighting opportunities for collaboration and global audience reach. The conceptualization of "Gambang Kromong 5.0" is proposed as a holistic model that integrates traditional essence with intelligent technological advancements in a human-centric manner, ensuring cultural survival and artistic relevance in the digital age.

Control systems with time delays introduce system stability problems because time delays cause exponential effects to the system response. Conventional root-locus methods cannot be used directly on systems with delays due to irrational mathematical forms. This study analyzes the shifting effect of time delay on the stability of linear control systems by using the first-order Padé approach to enable the application of the root-locus method. The system model used is a second-order linear system with a transfer function of , and is analyzed under conditions without delay and with delays of 0.5, 1, and 1.5 seconds. Simulations were performed using MATLAB software. The results show that the addition of delay causes a right pole shift of the imaginary axis, reduces the stability margin of the system, and results in a more oscillative response as well as a longer time for the system to stabilize. The first-order Padé approach is shown to be effective in facilitating the visual analysis of stability in time-delayed systems. The findings make a practical contribution in adapting classical analysis techniques to the needs of modern control systems and can be widely applied in the development of network-based control systems, industrial automation, and real-time control.

In this study, a women's empowerment program for fisherwomen in Domas Village, Serang Regency, was used to investigate the impact of village fund management on improving the welfare of coastal communities. This research stems from an awareness of the importance of villages in realizing sustainable development that relies on local potential, especially in vulnerable and marginalized coastal areas. To improve community welfare, including that of women who have been less involved in village development processes, effective, efficient, transparent, and accountable management of village funds is crucial. The research method employed was qualitative, with data collected through in-depth interviews, field observations, and documentary studies. The research results show that the management of village funds in Domas Village has brought many benefits, such as the establishment of BUMDes shrimp farms and catering services, which can create jobs and increase local revenue. However, women's participation in village programs is still limited to certain industries such as beauty services and seafood processing. To achieve optimal women's empowerment, key barriers include limited human resources, limited access to capital, and the lack of integration of women's SMEs into the village funding structure. The results indicate that an inclusive and locally-driven approach to village fund management can enhance community well-being more equitably and drive sustainable socio-economic transformation.

In the digital era like today, traditional games such as forts and gobak sodor are increasingly marginalized, even though these two games have great potential in supporting the motor and social development of elementary school children. This literature study aims to analyze the role of these two games in honing students' gross motor skills through running, jumping, and coordination activities, as well as social skills such as cooperation, communication, and sportsmanship. This research method uses a literature study with several stages, namely the data collection stage, the classification stage, the analysis stage, the synthesis stage, and the interpretation stage of relevant sources. The results of the study indicate that forts and gobak sodor are effective in training children's gross motor skills through dynamic movements such as running and dodging, while developing children's social values ​​through team interaction and collaborative strategies. Integration of traditional games in Physical Education learning in elementary schools can be a holistic strategy to improve students' physical and character development. The suggestion for educators is to modify these games so that they remain relevant to the current context without eliminating their educational value.