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Azka Ridho Syahputra; Rika Ratna Permata; Ranti Fauza Mayana

Federalisme : Jurnal Kajian Hukum dan Ilmu Komunikasi 2025 Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

Trade Secrets are a form of Intellectual Property that provide protection for confidential information owned by a legal subject. While Trade Secret protection offers benefits for individuals in running a business, it can also be misused to conceal legal violations. This research aims to identify how Trade Secret regulations in Indonesia provide protection for individuals who disclose Trade Secrets in the public interest, as well as to examine the urgency of such regulation by comparing the provisions of the Indonesian Trade Secret Law with Directive (EU) 2016/943. This study employs a normative juridical method with a comparative approach. The researcher conducts a literature study by comparing the Indonesian Trade Secret Law with Directive (EU) 2016/943 and relevant legal theories. The results show that the current regulation of whistleblowing on Trade Secrets for the public interest in Indonesian positive law remains very limited. There is an urgent need to expand protection for individuals who disclose Trade Secrets in the public interest. Indonesia may use Directive (EU) 2016/943 as a reference to broaden the provisions of its Trade Secret Law, in order to ensure the protection of public interest without disregarding the rights of Trade Secret holders.

Nurzahara Sihombing; M. Agung Rahmadi; Helsa Nasution; Luthfiah Mawar; Milna Sari +1 more

Jurnal Riset Ilmu Farmasi dan Kesehatan 2025 Asosiasi Riset Ilmu Kesehatan Indonesia

This study rigorously investigates the Ulul Albab spiritual leadership construct and its impact on psychological well-being among campus da'wah activists, employing a Confirmatory Factor Analysis (CFA) approach grounded in both theoretical integration and empirical data. The inquiry draws upon a meta-analysis of 47 quantitative studies encompassing a total of 12,847 respondents from leading universities in Indonesia, Malaysia, and Brunei Darussalam, spanning the years 2018 to 2024. This methodological scope enhances the external validity of the findings. The CFA results confirm that the Ulul Albab spiritual leadership model exhibits a robust level of model fit, as indicated by optimal statistical indices (χ²/df = 2.34; CFI = 0.956; TLI = 0.943; RMSEA = 0.047; SRMR = 0.039), suggesting strong coherence between the theoretical construct and field data. The three core dimensions conceptualized in this model are statistically validated through high factor loadings: intellectual spirituality (0.847), Islamic transformational leadership (0.823), and emotional-spiritual intelligence (0.791), each serving as integral pillars of the Ulul Albab paradigm. Furthermore, structural regression analysis reveals a significant effect of Ulul Albab spiritual leadership on the psychological well-being of da'wah activists (β = 0.673; p < 0.001; R² = 0.453), thereby affirming the model's predictive strength in fostering individual potential rooted in Islamic spiritual values. These findings reinforce the theoretical propositions advanced by Garden, M. (2004), Fry (2003), and Zohar and Marshall (2000) regarding the significance of spiritual leadership within organizational dynamics. However, this study offers a novel conceptual contribution through the epistemological synthesis of the Ulul Albab construct, integrating intellectual and spiritual intelligence within a holistic Islamic framework. Unlike Western-based models of spiritual leadership proposed by Fry and Nisiewicz (2020), the Ulul Albab construct demonstrates a notable advantage in the dimension of intellectual spirituality, as evidenced by its higher factor loading (0.847 compared to 0.634), underscoring the imperative of balancing dzikir and fikir as both ethical and cognitive foundations in contemporary Islamic leadership.

Muhammad Fharel Rafer Perdana; Merdiana L. Sipahutar; Iga Putri Pamungkas; Hera Hestuti; Aisiah Aisiah

Mandub: Jurnal Politik, Sosial, Hukum dan Humaniora 2025 STAI YPIQ BAUBAU, SULAWESI TENGGARA

Tuanku Nan Renceh is an important figure in the history of Islam in Minangkabau who is known as a pioneer of the religious reform movement through the Padri Movement. Born into a strong matrilineal customary environment, he became a symbol of the radical transformation of Islamic thought in Indonesia in the 19th century. Starting from traditional education in the surau to being inspired by the Wahabi teachings brought by three pilgrims from Mecca, Tuanku Nan Renceh became the driving force behind the purification of Islam that rejected all forms of heresy, superstition, and customary practices that were considered contrary to Islamic law. His leadership was not only spiritual but also military in its resistance against customary groups and Dutch colonial power. His intellectual legacy influenced modern reformist movements such as Muhammadiyah and gave birth to local philosophies such as "Adat Basandi Syarak, Syarak Basandi Kitabullah". Although his preaching method is considered controversial because it prioritizes violence and confrontation, Tuanku Nan Renceh's role remains significant in the dialectic of Islam and Minangkabau customs. Historical narratives, popular culture, and the collective memory of society immortalize his figure as a fighter, reformer, and symbol of the conflict between Islamic orthodoxy and local wisdom. This article will discuss again how Tuanku Nan Renceh's role in Spreading Influence played a major role in Minangkabau history, and invite readers to recognize, understand, and respond to the valuable legacy left behind.

karina Nur Aini; Sugeng pradikto

. This study examines how the Quantum Learning model is used in the Raudhatul Athfal (RA) An-Nidhomiyah class. RA An-Nidhomiyah is an early childhood education center dedicated to raising a generation of Muslims who are highly moral, intellectual, and independent. An innovative method that makes learning fun and efficient is the form of quantum learning. This model combines interactive principles that encourage different learning styles, actively engage students, and consider the developmental needs of children. For example, singing while memorizing, visiting tours, and telling stories while acting out. The findings of the study indicate that the use of Quantum Learning in RA An-Nidhomiyah improves children's memory and motivation to learn while helping them understand moral and spiritual principles in a supportive atmosphere. This study emphasizes the value of innovation.   Keywords: Innovation Values, Early Childhood Education and Quantum Learning.

Halawatul Kamala; Muhammad Alif; Mus'idul Millah

Ikhlas : Jurnal Ilmiah Pendidikan Islam 2025 Asosiasi Riset Ilmu Pendidikan Agama dan Filsafat Indonesia

In the modern era, approaches to understanding hadith have undergone significant transformations, necessitating more systematic and contextualized methodologies. Thematic hadith studies (mawḍū‘ī) have emerged as a methodological solution capable of integrating the Prophet’s teachings with contemporary realities in a more comprehensive manner. This research aims to examine the concept, history, and development of the thematic methodology in hadith studies. The primary focus is to explore the epistemology of this approach and its implications within modern Islamic academic discourse. This study employs a qualitative method using a library research approach. Data were collected through the analysis of primary and secondary literature, then analyzed using descriptive-analytical and historical-critical methods. The findings indicate that while the thematic method has existed since the classical era, its conceptual maturity has advanced significantly in the contemporary period. This approach has proven effective in addressing the issue of ikhtilāf al-ḥadīth, clarifying inter-narration relationships, and expanding the scope of hadith understanding according to the needs of the time. However, its main challenges include potential subjectivity in interpretation and the need for stricter methodologies in validating both sanad and matn. Therefore, thematic hadith studies serve as a bridge between classical understanding and modern academic demands. Its implications extend beyond the development of hadith science to the continued relevance of Islamic teachings in addressing contemporary intellectual and social challenges.

Difani Nur Azizah

Ikhlas : Jurnal Ilmiah Pendidikan Islam 2025 Asosiasi Riset Ilmu Pendidikan Agama dan Filsafat Indonesia

The process of seeking knowledge does not merely involve intellectual intelligence but also requires emotional and spiritual strength, one of which is cultivated through patience. In fact, in today's fast-paced, instant era, many knowledge seekers often overlook the aspect of patience. Therefore, this research aims to explore the meaning and urgency of patience in seeking knowledge based on Q.S. Al-Kahfi verses 65-70, which focus on the story of Prophet Musa and Khidr. The method used in this research is a literature review with a qualitative approach, analyzing the relevant verses as well as classical and contemporary interpretations that serve as primary sources. The analysis of this article demonstrates that patience in seeking knowledge is a prerequisite for attaining true knowledge, functioning as an inner strength to overcome obstacles, maintain consistency in learning, and shape the character of a genuine learner who is not only intellectually intelligent but also spiritually mature. These findings are relevant to the integration of manners, ethics, and spirituality in contemporary Islamic education.

Audya Sari, Putri; Saleh, Syarbaini

Jurnal Riset sosial humaniora, dan Pendidikan (Soshumdik) 2025 LPPM Universitas 17 Agustus 1945 Semarang

The rapid technological development in the Society 5.0 era has brought about a transformation in digital political participation in Indonesia as well as changes in student political participation patterns. Students, as a young intellectual group, have their own unique ways of using social media for political participation. The purpose of this research is to understand the role of social media in student political participation in the Society 5.0 era. This study employs a qualitative method with a descriptive approach. In the data collection process, this research uses interview and documentation techniques involving 15 students who are engaged in intracampus organizations and students who actively use social media. To test data validity, this study uses a credibility test through source triangulation. The research findings show that Instagram and TikTok social media platforms are widely used for accessing political information. These social media platforms play an important role in shaping students' political awareness. In the Society 5.0 era, forms of student political participation through social media include engagement in online discussions, sharing political posts, and promoting hashtags related to political issues. The challenges of digital political participation include the prevalence of hoax news, buzzers, low literacy levels, and political polarization or conflicting viewpoints that become obstacles in utilizing social media as a space for student political participation.

Fatimah Al Jahra; Salsabila Khairani; Mahfud Ifendi

Reflection : Islamic Education Journal 2025 Asosiasi Riset Ilmu Pendidikan Agama dan Filsafat Indonesia

This article is written to examine the golden age of Islamic intellectuals, focusing on the development of education during the era of Caliph al-Ma'mun (786–833 AD) of the Abbasid Dynasty, and to explore the factors underlying the progress of science during that period. The research method used is a literature study with a qualitative historical descriptive approach; data were collected through a review of primary and secondary sources (books, journals, historical documents), then analyzed systematically through the process of de-contextualization, coding, grouping, and re-contextualization in order to compile a comprehensive historical narrative. The results of the study indicate that al-Ma'mun's policies including the establishment of BaitulHikmah, the movement to translate foreign scientific works, and political and economic support created an open and inclusive intellectual climate, accelerating the development of science, philosophy, and formal education to the village level. The implications of these findings emphasize the importance of synergy between state support, political stability, and respect for diversity as a foundation for the development of modern educational institutions and cross-cultural knowledge exchange.

Siska Adelia Zahra; Muhammad Alif

Al-Tarbiyah: Jurnal Ilmu Pendidikan Islam 2025 STAI YPIQ BAUBAU, SULAWESI TENGGARA

Arrogance, referred to in the Quran as kibr, takabbur, or istikbār, is a serious moral issue with spiritual, social, and political dimensions that require careful consideration. Pride is a major obstacle in accepting divine truth and can contribute to the collapse of the social order, as depicted in the stories of Pharaoh, Qarun, and Iblis. In the modern context, pride appears in various complex forms, including intellectual pride, political dominance, economic inequality and exclusivism. It has also evolved into a structural problem that causes discrimination, marginalization of minority voices, and global tensions. This study analyzes the concept of pride in the Qur'ān using a theoretical approach rooted in themes. This qualitative methodology allows for the development of inductive theories directly drawn from the sacred text. This approach overcomes the limitations of previous research, which is often fragmentary and descriptive. Through open, axial, and selective coding of Qur'anic verses and stories about pride, this study will reconstruct the definition, forms, and characteristics (cognitive, affective, and behavioral) of pride, as well as its consequences in this world and the hereafter. The results show that pride manifests in actions such as belittling others, boasting of self and wealth, rejecting the truth, and showing physical arrogance.

Galih Maulana Hendrawan; Dien Nurmalina Malik

Karakter : Jurnal Riset Ilmu Pendidikan Islam 2025 Asosiasi Riset Ilmu Pendidikan Agama dan Filsafat Indonesia

The phrase istighfar in forming and strengthening character education based on AIK (Al-Islam and Muhammadiyah) values. Istighfar as an expression of asking for forgiveness from Allah SWT has a deep spiritual meaning and strong relevance in forming a person's character that is noble, honest, and responsible. Through a descriptive qualitative approach, the author describes the importance of internalizing the phrase istighfar in everyday life as a means of introspection, self-improvement, and moral strengthening. AIK-based character education that integrates the practice of istighfar is expected to produce people who are not only intellectually intelligent, but also spiritually and socially superior. Thus, istighfar is not only a ritual of worship, but also a medium for self-transformation towards a perfect human being.

Lutfi Ahmad Mutorik; Disyela Apriswa Mandai; Sofa Nur Alfiah; Muhammad Raka Iqbal Fadil Muharom; Rifky Ali Perdiansyah +2 more

Jurnal Riset Rumpun Ilmu Pendidikan 2025 Lembaga Pengembangan Kinerja Dosen

This study aims to comparatively analyze the concept of tawhid in Sunni and Shi'a Imamiyyah schools from a theological perspective. Using an exploratory qualitative approach and literature study method, this research examines the theological structures of both traditions, identifying points of convergence and key differences in their understanding of God's oneness. The findings reveal that although both traditions uphold tawhid as the core of faith, differing epistemological approaches and authoritative frameworks lead to significant distinctions. The Sunni tradition emphasizes three dimensions of tawhid—rububiyyah, uluhiyyah, and asma’ wa sifat—while the Shi’a Imamiyyah integrates the concept with the doctrines of imamah and walayah. The study further highlights that such theological diversity can enrich Islamic intellectual tradition and foster constructive inter-sectarian dialogue when managed inclusively. The research recommends promoting sectarian tolerance education and inter-traditional dialogue as key strategies to enhance Islamic unity.

Talitha Dahayu Ardiningrum

Karakter : Jurnal Riset Ilmu Pendidikan Islam 2025 Asosiasi Riset Ilmu Pendidikan Agama dan Filsafat Indonesia

In recent years, education has placed greater emphasis on academic achievement, often overlooking the importance of character and ethical development in students. However, instilling the value of adab (proper manners) before knowledge is essential as a foundational aspect of the learning process. Adab encompasses attitudes such as respect for teachers, honesty, responsibility, and politeness, which contribute to forming ethical individuals. This study aims to explore the significance of adab values in education as an effort to cultivate students' character and ethics from an early age. The research uses a literature review method by analyzing various sources from Islamic education and character education theories. The findings reveal that the integration of adab values can be achieved through teacher role modeling, fostering positive habits within the school environment, and embedding these values into learning materials. When consistently applied, these approaches create a conducive learning atmosphere and develop students who are not only intellectually capable but also morally upright. The study implies that a balanced approach to education, which emphasizes both knowledge and adab, should be instilled early in both school and family settings

Jimmi Pasla; Muhammad Adnan Azzaki

Jurnal Riset Rumpun Ilmu Sosial, Politik dan Humaniora 2025 Pusat Riset dan Inovasi Nasional

Abstract, This research was conducted with the aim of exploring the legal reconstruction efforts based on the Maqasid al-Shari’ah perspective, as reflected in the decision issued by the Supreme Court, in order to provide a legal breakthrough in the distribution of inheritance through the concept of wasiat wajibah (compulsory will) for non-Muslim heirs. The difference in religious affiliation within family law gives rise to serious inheritance issues, as Islamic law strictly prohibits inheritance between people of different religions. In order to maintain national unity and integrity, the Supreme Court issued Decision Number 331 K/AG/2018, which grants the right to a wasiat wajibah to heirs who have converted out of Islam or are non-Muslims. This study is a normative juridical research that employs two legal approaches: the conceptual approach and the analytical approach. The data collection technique used to achieve the research objectives is library-based documentation study. The findings show that all judicial bodies in Indonesia must refer to Article 49, Articles 1 and 2 of the 1989 Law concerning legal provisions on litigation, management, and enforcement of civil litigation in inheritance cases. Furthermore, Qur’an Surah An-Nisa verse 141 and Hadiths from Al-Bukhari and Muslim explain that Islamic identity must be a determining factor for heirs, disregarding wills that are not valid under Islamic law. Based on the results, it can be concluded that a wasiat wajibah for apostate or non-Muslim heirs is treated not as an inheritance, but as a special bequest. According to the Maqasid al-Shari’ah, which serves as the foundation for achieving the objectives of Islamic law through its five core principles of protection, the concept of wasiat wajibah for non-Muslim heirs plays a crucial role in: preserving religion by fostering interfaith tolerance; preserving life by preventing familial conflict; preserving intellect by ensuring access to education for non-Muslim descendants; preserving lineage by recognizing the rights of children as biological heirs through inheritance; and preserving wealth by ensuring the rightful and responsible transfer of ownership of the deceased’s estate.    

Nurdin, Rahmatullah; Ulama, Keyshandrina D.; Moonti, Roy Marthen; Kasim, Muslim A.

Jurnal Hukum, Politik dan Humaniora 2025 Lembaga Pengembangan Kinerja Dosen

Traditional Cultural Expressions (TREs) are an important part of national identity and intangible cultural heritage that live in indigenous communities in Indonesia. In the midst of globalization and increasing cultural claims by other countries, the urgency of legal protection for TREs is becoming increasingly relevant and strategic. This article aims to examine the effectiveness of legal protection for TREs in Indonesia and to formulate strategies for strengthening protection at the national and international levels. This study uses a juridical-normative approach with literature study techniques and qualitative analysis of laws and regulations, international conventions, and case studies such as Reog Ponorogo and batik. The results of the study indicate that existing legal protection is still limited and has not been able to answer the complexity of cultural claim problems. Harmonization of national law with international standards and collaboration between parties are needed to strengthen Indonesia's legal position in protecting TREs. This study contributes to the development of more responsive and sustainable cultural policies.

Salma Fitriyani; Nurholis Nurholis; Arfia Diva Alzahra; Mhd. Al. Fadin

Jurnal Riset Rumpun Ilmu Bahasa 2025 Pusat riset dan Inovasi Nasional

Arabic literature experienced a significant thematic transformation from the Umayyad to the Abbasid period. In the Umayyad era, poetry was still rooted in classical qasidah, focusing on praise, tribal pride, and romantic ideals. However, the Abbasid era brought a wave of literary renewal, influenced by sociopolitical and cultural shifts. This study explores how these contexts shaped literary themes and styles, using a descriptive qualitative approach through library research and textual analysis. It focuses on works by Al-Farazdaq, Al-Akhtal, Jarir, Abu Nawas, Abu al-Atahiyah, Dibil al-Khuza’i, and Al-Jahiz. The findings reveal that poetry in the Abbasid era became a tool for social criticism, spiritual reflection, and personal expression. Meanwhile, Al-Jahiz significantly advanced Arabic prose, making it more intellectual and educational. This study concludes that Arabic literature evolved not only in form and content, but also in function, reflecting the intellectual and cultural dynamism of Islamic civilization. Keywords: Abbasid; Arabic literature; New Poets; Transformation; Umayyad

Angelicia; Ikhsan, Syarbini; M. Helmi, Syarif

KOMPAK : Jurnal Ilmiah Komputerisasi Akuntansi 2025 Universitas Sains dan Teknologi Komputer

This study aims to analyze the influence of intellectual capital, firm size, liquidity, and capital structure on firm value, with profitability as a mediating variable. The research focuses on consumer non-cyclicals sector companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. The analysis is conducted using multiple linear regression and the Sobel test to measure both direct and mediating effects. The results indicate that intellectual capital has a significant positive effect on profitability, while firm size and liquidity do not show a significant impact. Capital structure has a significant negative effect on profitability. Additionally, intellectual capital and capital structure significantly influence firm value, whereas firm size and liquidity do not. Profitability is proven to mediate the effect of intellectual capital and capital structure on firm value but does not mediate the relationship between firm size and liquidity and firm value. These findings support the Resource-Based Theory (RBT), which highlights the importance of managing strategic resources to create added value, and the Signaling Theory, which suggests that profitability and capital structure provide positive signals to investors regarding firm performance. The study implies that companies should prioritize managing intellectual capital and capital structure to enhance profitability, ultimately increasing firm value. Future research is recommended to extend the study period and consider external variables, such as macroeconomic conditions, for more comprehensive insights.

Susanto, Veronica Nessie; Umiaty Hamzani; Rudy Kurniawan

KOMPAK : Jurnal Ilmiah Komputerisasi Akuntansi 2025 Universitas Sains dan Teknologi Komputer

Financial distress refers to a company’s persistent inability to meet financial obligations, signaling severe monetary strain that precedes formal bankruptcy or liquidation proceedings. This study investigates the impact of intellectual capital (VAICTM), operational capacity (TATO), capital structure (DER), and operating cash flow (OCF) on financial distress (Altman Z-Score), with profitability (ROA) serving as a mediating variable. The theoretical framework of this research is grounded in signaling theory, agency theory, and resource-based view theory. The study focuses on basic materials companies listed on the Indonesia Stock Exchange (IDX) between 2019 and 2023. The study utilized criterion-based sampling to select qualified respondents. Secondary datasets were analyzed through panel regression and path analysis, with Eviews 12 as the computational tool. Key findings include: (1) intellectual capital and operating capacity demonstrate a statistically significant positive influence on profitability; (2) capital structure exerts a significant adverse impact on profitability; (3) operating cash flow exhibits no statistically discernible impact on profitability; (4) both operating cash flow and profitability are positively and significantly associated with increased financial distress; (5) capital structure displays a significant inverse relationship with financial distress severity; (6) intellectual capital and operating capacity show no statistically significant associations with direct financial distress prediction; (7) profitability partially mediates the influence of intellectual capital, operating capacity, and capital structure on financial distress; and (8) profitability does not serve as a mediating variable between operating cash flow and financial distress.

Irmawati Thahir; Evy Segarawati Ampry; Firdaus Firdaus

International Journal of Educational Technology and Society 2025 Asosiasi Periset Bahasa Sastra Indonesia

This study aims to analyze the implementation of transformational leadership models by school principals and their influence on improving teacher performance in secondary schools. The research adopts a mixed-method approach, integrating both qualitative and quantitative data to provide a comprehensive understanding. The study was conducted in 15 secondary schools, involving a total of 245 respondents consisting of school principals and teachers. Data collection techniques included the use of questionnaires to gather quantitative data, alongside in-depth interviews and direct observations for qualitative insights. The results reveal that transformational leadership—particularly through its core components of intellectual stimulation, inspirational motivation, individualized consideration, and idealized influence—has a significant positive impact on teacher performance. These leadership behaviors were found to enhance teaching quality, increase teacher professional commitment, and improve overall job satisfaction among educators. Additionally, the study highlights the role of school culture and the professional learning environment as mediating factors in the effectiveness of transformational leadership. The findings underscore the importance of implementing structured leadership development programs for school principals. By equipping school leaders with transformational leadership skills, educational institutions can foster more supportive and dynamic teaching environments that ultimately lead to better learning outcomes. These insights are particularly relevant for policymakers and educational administrators who are seeking sustainable strategies to improve school performance through leadership practices. In conclusion, transformational leadership stands out as a vital leadership style that not only motivates and empowers teachers but also contributes significantly to the institutional development of schools.

S.A. Safry Saing; Syafitri Jaida; Besty Aprilia; Salsabila Balqis; Rauf Margana

Pajak dan Manajemen Keuangan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Ibn Khaldun is a Muslim thinker whose contribution to Islamic economics is monumental, especially through the work of Al-Muqaddimah which discusses the theory of work value, market mechanisms, taxation, the role of the state, and the cycle of civilization. This journal aims to analyze his economic thought in depth through a literature study of 30 scientific journals using a qualitative approach with thematic analysis. The research method used is a qualitative approach with thematic analysis techniques from various scientific literature that examines Ibn Khaldun's thought in classical and modern contexts. The results of the study show that Ibn Khaldun's economic concepts are not only normative and historical, but also have applicative value in answering contemporary economic problems, including social inequality, the tax system, to sustainable economic development. Therefore, Ibn Khaldun's thought has a high relevance to be applied in the development of modern Islamic economics. His intellectual legacy is a bridge between Islamic values and scientific solutions to the global economic crisis.

Komang Hellen Kirana Putri; I Ketut Jati

International Journal of Entrepreneurship and Management 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Market performance reflects the firm's value from the perspective of investors, based on current performance and future projections, which influence stock prices and long-term investment returns. This study aims to examine the effect of Corporate Social Responsibility (CSR) disclosure and Intellectual Capital (IC) on market performance, with profitability as a moderating variable. The study was conducted on manufacturing companies listed on the Indonesia Stock Exchange during the 2021–2023 period. The sample consisted of 166 observations. The sampling method used in this study was non-probability sampling with a purposive sampling technique. Data were collected through documentation and analyzed using STATA software. The results show that CSR disclosure has no significant effect on market performance, while IC has a significant negative effect on market performance. However, profitability, measured by Return on Equity (ROE), significantly strengthens the relationship between CSR disclosure and market performance, as well as between IC and market performance."