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The development of financial technology (fintech lending) in Indonesia has significantly facilitated public access to financing; however, it has also generated various legal issues, particularly concerning the protection of creditors. This study aims to analyze the forms of legal protection available to creditors in loan agreements based on fintech lending from the perspectives of civil law and commercial law in Indonesia. The research employs a normative legal method, utilizing both statutory and conceptual approaches. The findings indicate that legal protection for creditors in fintech lending still faces numerous challenges, particularly regarding the validity of electronic agreements, the risk of default, and the weakness of guarantee mechanisms. Existing regulations, such as the Financial Services Authority Regulation (POJK) concerning information technology-based lending services, have not yet provided optimal legal certainty. Furthermore, the principles of prudence and transparency have not been fully implemented by fintech providers. Therefore, strengthening regulatory frameworks and harmonizing civil law and commercial law are essential to ensure more comprehensive legal protection for creditors. This study is expected to contribute to the development of business law in Indonesia, particularly in responding to the dynamics of the digital economy.

Phishing is a form of cybercrime that has experienced a significant increase in frequency within Indonesia. This fraudulent practice aims to deceive victims into surrendering personal data or sensitive financial information by impersonating trusted institutions. Such crimes result in substantial losses for both individuals and the business sector, particularly concerning personal data protection and digital transaction security. This research aims to analyze the legal regulations and the role of supervisory institutions in addressing phishing threats in Indonesia using a normative legal research method. The legal analysis encompasses the implementation of the Electronic Information and Transactions Law (UU ITE), specifically Article 28, paragraph (1), and the Personal Data Protection Law (UU No. 27 of 2022), which serves as the primary foundation for privacy rights. Furthermore, this study examines the Consumer Protection Law and the Indonesian Criminal Code (KUHP) as enforcement instruments. The strategic roles of the Financial Services Authority (OJK) and Bank Indonesia (BI) are also discussed in the context of risk mitigation within the financial sector. The findings indicate that law enforcement effectiveness is still hindered by low digital literacy, limited forensic technology infrastructure, and jurisdictional challenges in tracking cross-border perpetrators. Consequently, a synergy between regulatory strengthening, international collaboration, and massive public education is required to comprehensively suppress these cybercriminal activities.

Business digitalization has become an integral part of the modern economic development in Indonesia, providing significant convenience for business actors while presenting legal risks that require clear legal protection and certainty. This research uses normative legal methods with legislative and conceptual approaches, and utilizes primary, secondary, and tertiary legal sources. The results of the study show that legal protection for business actors in digital-based business agreements is regulated in various regulations, including Article 1320 and Article 1338 of the Civil Code, the Consumer Protection Law, the Law on the Prohibition of Monopoly Practices, the Law on Information and Electronic Transactions and their amendments, Government Regulations on the Implementation of Electronic Systems and Transactions, the Personal Data Protection Law, and the Trade Minister Regulation on Trade Through an electronic system. However, existing regulations still face challenges in the form of overlapping rules and have not fully answered new problems such as automated contracts, the use of artificial intelligence, and the dynamics of digital platforms. Therefore, adaptive regulatory reforms, strengthening the principle of fairness in digital contracts, increasing supervision of platform operators, and legal and digital literacy for business actors are needed. These efforts are expected to be able to protect business actors, especially MSMEs, from harmful standard clauses and ensure the timely and effective resolution of digital business disputes.

The flash flood disaster that hit Indonesia, including the devastating disaster in three Sumatran provinces in November-December 2025 which resulted in more than 900 casualties and trillions of rupiah in losses, shows a strong correlation between environmental damage caused by corporate activities and increased disaster risk. The purpose of this study is to analyze corporate criminal liability for environmental damage resulting in flash flood disasters based on the Environmental Management Law (UU PPLH), examine the mechanism for proving corporate criminal liability, and evaluate the application of criminal sanctions against corporations that commit environmental damage resulting in flash flood disasters. The research method used is normative legal research with a descriptive analytical statute approach. Data collection techniques are carried out through library research and interviews with sources at the North Sumatra Provincial Environmental Service. The data obtained were analyzed qualitatively. The results of the study indicate that: First, corporate criminal liability for environmental damage resulting in flash floods has been comprehensively regulated in Articles 116 to 120 of the Environmental Management and Management Law, which recognizes corporations as subjects of criminal law and regulates the criteria for corporate crimes (committed by, for, or on behalf of a business entity), the responsible party (the business entity and/or the person giving the order/leader of the activity), a one-third aggravation of the sentence, and corporate representation in court, as reinforced by Supreme Court Regulation Number 13 of 2016. The conclusion of this study is that the Environmental Management and Management Law has provided a comprehensive legal framework for corporate criminal liability for environmental damage resulting in flash floods. However, the effectiveness of law enforcement still needs to be improved through accelerating the judicial process, strengthening the capacity of law enforcement, improving inter-agency coordination, and strengthening the decision execution mechanism.

The Village-Owned Enterprise (BUMDesma) plays an important role in empowering the local community's economy. BUMDesma "Bumi Artha Mandiri LKD" in Kemujan Village runs a revolving loan program to meet the capital needs of the community, particularly for micro-business actors. This study aims to describe the structure, procedures, and performance of the accounting system applied to the program, as well as to identify obstacles and efforts for improvement. The research method used is qualitative descriptive with data collection through direct observation, interviews with BUMDesma managers and borrower members, and financial document analysis. The results show that the running accounting system includes modules for member registration, lending, payments, and financial reports with recording procedures in accordance with basic accounting principles. The advantages of this system include high transparency and adequate risk control, but it still faces challenges such as limited technology, management capacity, and availability of accurate data. Planned improvements include the adoption of information technology, continuous training, and enhanced cooperation with the community. The study concludes that the existing accounting system has made a positive contribution, but it needs to be strengthened to support the sustainability of the revolving loan program and the economic empowerment of the village.

This study examines the influence of memorable tourism experiences and operational risk management in tourist train transportation on positive Word of Mouth (WOM), with tourist satisfaction serving as a mediating variable. A quantitative approach was employed, and data were processed using SEM-PLS 4. The research sample consisted of 247 respondents who had used tourist train services within the past year. The results reveal that both effective risk management practices and memorable tourism experiences perceived by tourists significantly impact tourist satisfaction. Additionally, tourist satisfaction plays a crucial mediating role in generating positive WOM. The study highlights that memorable tourism experiences, including aspects such as comfort, scenic views, and the quality of service, significantly enhance tourist satisfaction. Furthermore, operational risk management, which includes ensuring passenger safety, maintaining service reliability, and handling emergencies effectively, is essential for cultivating satisfaction and positive WOM. The findings suggest that businesses in the tourism industry, particularly those operating tourist trains, should prioritize both risk management and creating memorable experiences to foster customer loyalty and enhance WOM. This study contributes to understanding the dynamic relationship between risk management, customer satisfaction, and WOM in the tourism sector, providing valuable insights for improving service strategies in tourist train transportation.

This study aims to analyze the impact of immersive commerce and augmented reality (AR) on consumer trust in e-commerce transactions using secondary industry data from the BrandXR 2025 Research on Augmented Reality in Retail & E-Commerce. Quantitative data was analyzed descriptively to evaluate the adoption rate of immersive technologies (immersive commerce and AR) and their relationship with consumer trust perceptions. The results show that immersive commerce, characterized by interactive and realistic user experiences, has a positive impact on consumer trust. Similarly, AR which offers realistic product visualization, has a significant impact on strengthening consumer trust in purchasing decisions. Simultaneously, the integration of immersive commerce and AR enhance the digital shopping experience, which can reduce risk perception and increase trust in online transactions. These findings empirically contribute to the literature on digital consumer behavior and e-commerce strategies, and suggest that businesses adopt immersive technologies to increase consumer trust and engagement in the online commerce ecosystem.

The rapid advancement of information and communication technology has positioned e-commerce as a primary shopping channel, with Shopee emerging as the most popular platform in Indonesia. In the context of online fashion purchases, consumers face inherent limitations due to the inability to physically inspect or try products. Consequently, product ratings and reviews function as critical forms of social proof, helping to reduce uncertainty and perceived purchasing risk. This study investigates the influence of product ratings and reviews on purchasing decisions for fashion products on Shopee, focusing on undergraduate students at Universitas 17 Agustus 1945 Semarang. Employing an associative quantitative approach, data were collected through a closed-ended questionnaire distributed to 100 purposively selected respondents who had purchased fashion products on Shopee within the last three months. The independent variables are product ratings and product reviews, while the dependent variable is the consumer purchasing decision. Statistical analyses include validity and reliability testing, correlation analysis, t-tests, F-tests, and the coefficient of determination. The study’s findings are expected to offer both practical insights for e-commerce businesses in developing effective digital communication strategies and theoretical contributions to the understanding of digital consumer behavior in the e-commerce environment.

This paper examines how Somaliland’s liberalized, privately led telecommunications sector, once a state monopoly and now dominated by local firms, has become a driver of economic growth, financial inclusion, and infrastructure development, with Telesom as the leading example. Drawing on sectoral history, market composition, and coverage data, the study shows how Telesom and its competitors have built nationwide networks, delivered low-cost services, and enabled mobile money-based financial services in the context of weak formal banking. Focusing on Telesom’s ZAAD platform, the paper analyzes its ecosystem business model (salary payments, merchant networks, and high-frequency transactions), its contribution to financial inclusion, and its alignment with international anti–money laundering and customer due diligence standards. At the same time, it identifies ethical and prudential gaps, especially the absence of formal deposit protection, limited transparency in financial reporting and taxation, and the lack of an independent telecommunications regulator, which pose risks to consumers and systemic stability. Overall, the paper argues that Telesom illustrates how sustainable finance in telecommunications can combine innovation, inclusion, and profitability, provided that stronger governance, disclosure, and consumer protection frameworks are implemented to secure long-term sector resilience. 

The Cash on Delivery (COD) system is one of the payment methods frequently used in online buying and selling transactions, where consumers pay for ordered products upon receipt of the goods. Although it provides convenience, this system often causes problems, especially related to transaction cancellations by consumers after the delivery process has been carried out by business actors. This research examines how the regulation and allocation of risk for goods return in the COD system according to the Civil Code and the forms of legal protection provided to business actors against the risk of goods return in the COD system according to Law Number 8 of 1999 concerning Consumer Protection. The method used in this research is normative, supplemented by literature study results such as legislation. The results show that the Civil Code recognizes the concept of risk as a legal consequence related to the possibility of losses on the object of the agreement, and legal protection for business actors is divided into preventive legal protection and repressive legal protection.

The rapid development of digital technology has led to an increased adoption of digital payment methods in online transaction-based businesses. However, in practice, failures and limitations in the implementation of digital payment systems still occur, potentially disrupting transaction processes and reducing customer convenience. Payment related obstacles may result in transaction cancellations and increase the risk of customer churn. This study aims to analyze the impact of failures and limitations in digital payment methods on customer churn using a classification-based approach. The data used in this research are secondary e-commerce customer data obtained from the Kaggle platform, including transaction information, payment methods, customer behavior, and historical transaction records. The research methodology consists of data preprocessing, time-based feature engineering, and classification modeling using logistic regression, decision tree, and random forest algorithms. Model performance is evaluated using accuracy, precision, recall, F1-score, and confusion matrix metrics. The results indicate that the decision tree model demonstrates superior capability in identifying churn customers compared to the other models, although it does not always achieve the highest accuracy. In addition to digital payment methods, other factors such as purchase value, transaction frequency, purchase timing patterns, and product return rates also influence customer churn. The findings highlight the importance of optimizing digital payment systems as part of customer experience enhancement strategies and customer retention efforts in online transaction–based businesses.

The role of accounting in supporting the smooth execution of management tasks is very prominent, particularly in the planning and control functions. Accounting is able to provide financial information that is presented in the form of financial statements. Financial statements are considered fairly presented when they are prepared in accordance with the provisions of PSAK; the characteristics of such financial statements must be understandable, relevant, reliable, and comparable. In the preparation of financial statements, there are rules for recording transactions, which are known as the double-entry bookkeeping system. This system is commonly and widely used in the preparation of financial statements. However, financial statements in restaurant businesses in the city of Surabaya are prepared using a single-entry bookkeeping system. Theoretically, when financial statements are prepared using a single-entry system and the existing records do not show a complete summary of transactions, many specific difficulties will be encountered in preparing accurate financial statements. In addition, there is no direct way to determine whether the balances are correct, thus posing the risk of bias, inaccuracy, and misinterpretation, resulting in financial statements that do not comply with financial accounting standards. This condition motivated the author to conduct research on restaurant businesses in the city of Surabaya. In this study, the researcher restated the financial statements of restaurant businesses in Surabaya for the years 2023, 2024, and 2025 using the double-entry system, and presented them in accordance with the provisions of PSAK No. 1 concerning the Presentation of Financial Statements. 

Financial Literacy is a crucial aspect in supporting the success of a business for young entrepreneurs, especially in preparing financial reports. Financial literacy encompasses knowledge of money management, investment, and financial planning, while self-management encompasses skills such as time discipline, emotional control, and decision-making. "Improving Financial Literacy and Self-Management for Young Entrepreneurs of Polytechnic Students" has successfully achieved its primary objective with significant achievements. The general objective was achieved through a 25-30% increase in financial literacy and self-management scores, enabling students to manage their businesses more effectively and sustainably. Specific objectives were also met: workshops provided basic knowledge, mentoring trained practical skills, and the application of the concept of forming an aware community. Positive impacts were seen in reducing business risks and contributing to the polytechnic's entrepreneurial ecosystem. Positive impacts resulting from this program include reducing business risks and contributing to the development of the entrepreneurial ecosystem at the Polytechnic. This program is expected to become a model that can be applied in other educational institutions to support the development of young entrepreneurs in Indonesia.

Bulay Village has an entrepreneurial spirit, with the idea of creating, developing, and managing new businesses and exploiting its papaya production potential. This innovation involves processing papaya chips (kreeyaa), which is expected to increase income. The goal of the PKM is to improve the community's economy by providing training and guidance on processing papaya into marketable products, motivating the community to generate creative ideas using existing resources, and establishing papaya chips businesses. The method used is partisipatory Action Research, an approach based on the assets, strengths, and potential of the community. Entrepreneurship mentoring seminars and training on making papaya chips (kreeyaa) in Bulay Village are expected to create jobs, develop community skills, and increase income by leveraging potential assets.

Micro, Small, and Medium Enterprises (MSMEs) play a strategic role in supporting Indonesia’s economic development, not only by contributing to economic growth but also by creating employment opportunities. Along with the rapid increase in the number of MSMEs, competition among business actors has become increasingly intense, including in the knitted industry, which requires consistent product quality and efficient production processes. In this context, this community service program is designed to strengthen the competitiveness of MSMEs by improving their understanding and implementation of machine maintenance. Proper and well-planned maintenance practices are expected to reduce the risk of machine failure and minimize product defects. The activities were carried out through a series of socialization sessions, training programs, and technical assistance focused on machine maintenance calculations. The expected output of this program is a community service report that will be further developed into a scientific article and published in the Indonesian Journal of Community Service.

Company value is an important indicator that reflects company performance and investor perceptions of future business prospects and sustainability. Various strategic decisions made by management, such as capital intensity management, investment decisions, and tax aggressiveness policies, play a significant role in shaping company value. This study aims to examine and analyze the effect of capital intensity, investment decisions, and tax aggressiveness on company value through a literature review approach. The method used is a literature review by examining various relevant national and international scientific articles obtained from academic databases such as Google Scholar, Publish or Perish, and SINTA. The results of the study show that capital intensity has a positive effect on company value because it reflects long-term production capacity and operational efficiency. Investment decisions have also been proven to have a positive effect on company value because they signal management's optimism about future growth prospects. Meanwhile, tax aggressiveness can increase company value through tax savings and increased cash flow, but it has the potential to cause reputational and governance risks if done excessively. Overall, the reviewed literature shows that these three variables have an impact on company value, with the caveat that optimal and transparent management is necessary. This study is expected to serve as a reference for further research and as a consideration for company management and investors in making strategic decisions.

This study addresses low student engagement and high levels of boredom in entrepreneurship courses that rely heavily on one-way PowerPoint-based lectures. Preliminary observations in-dicated that 80% of students experienced low motivation and difficulty generating innovative business ideas. The purpose of this research was to examine the effect of gamification on student learning motivation and business creativity.A quantitative approach was employed using a pre-experimental (One-Group Pretest–Posttest design). The sample consisted of 25 students selected through total sampling. Gamification elements, including: points, badges, and leaderboards, were integrated into the learning process to replace conventional lecture methods.The findings indicate that the implementation of gamification significantly trans-formed student learning behavior and classroom dynamics. Students shifted from passive disengagement, characterized by limited interaction and high distraction levels, to proactive participation. Verbal interactions increased substantially, moving beyond administrative ques-tions toward meaningful business discussions. Students demonstrated heightened engagement and responsiveness during learning activities. The gamified learning environment also fostered a safe space for creative experimentation, enabling students to take entrepreneurial risks without fear of academic or financial failure. Improvements were observed across key di-mensions of business creativity, including fluency, flexibility, originality, and elaboration. The study concludes that gamification is an effective pedagogical strategy for enhancing student motivation and business creativity in entrepreneurship education. By transforming learning from a passive knowledge-transfer model into an experiential and interactive process, gami-fication supports the development of an entrepreneurial mindset among digital native students.

The development of automotive technology continuously seeks solutions to improve human mobility and address environmental concerns. This study focuses on the Hydrogen Reactor (HHO) technology as an alternative solution for fuel efficiency and emission reduction, specifically examining the legal protection of consumers utilizing this technology at Bengkel Karya Gemilang. The research aims to analyze the legal framework of consumer protection in the context of new energy-saving technologies and to identify the legal responsibilities of business actors (workshops) and the rights of consumers. Employing a normative legal research method with a case study approach, the study analyzes the implementation of Law No. 8 of 1999 concerning Consumer Protection (UUPK) in the utilization of HHO reactors. The findings indicate that while the HHO reactor technology offers a potential 5-15% increase in fuel efficiency and CO emission reduction, its implementation introduces new legal challenges, particularly regarding product safety, standardization, and the obligation for periodic servicing. Consumer protection is primarily ensured through the workshop’s obligation to provide clear product explanations, guarantee product safety, and fulfill the periodic service commitment. The study concludes that the existing UUPK provides a sufficient legal basis, but its implementation requires clear and transparent agreements, especially concerning the technical specifications and long-term maintenance of the HHO reactor, to ensure consumer rights are fully protected against potential risks associated with new, non-standardized automotive technologies.

Operational risk management is an essential aspect in maintaining the stability and sustainability of micro-enterprises operating in the culinary sector, particularly in the fast food industry, which relies heavily on production processes, raw material quality, and human resource skills. This study aims to analyze the types of operational risks that arise in the daily operations of the Kebab Capadocia MSME in Boyolali Regency using a qualitative approach through in-depth interviews and field observations. The COSO Enterprise Risk Management (ERM) Framework was used as the primary theoretical foundation to map risks based on five components: risk identification, risk assessment, control activities, information and communication, and monitoring. The results indicate that the business faces four main risk categories: production process risks, human resource risks, food hygiene and safety risks, and raw material distribution risks. Implemented controls are still informal and not supported by standard operating procedures (SOPs), resulting in recurring risks that impact product quality. These findings contribute to the MSME risk management literature and offer practical recommendations for strengthening operational structures based on systematic risk management.

This research focuses on the use of social media among Gen Z students at the Faculty of Economics, Universitas Nasional Pasim, specifically in their first semester, with the primary obejctive of identifying the impact of social media usage on entrepreneurial interest Gen Z. Utilizing a quantitative method with a population of 94 individuals and a sample derived using a 5% margin, data were collected through questionnaires. The analytical results through validityand reliability tests confirmed that all data were both valid and reliable, while the simple regression analysis indicated that the regression model is feasible and relevant. This is evidenced by an R-Square value os 0.575, showing that 57,5% of the variation in entrepreneurial interest is influenced by social media usage, while the remaining 42.5% is affected by external factors. Furthermore, the F-count of 19.580 exceeds the F-table of 3.10, proving that social media usage significantly impacts entrepreneurial interest for instance, platforms like TikTok serve not only as entertainment but also as vital tools for information, business learning, and promotion. Such platforms encourage students to develop the courage to build businesses and foster independence, creativity, risk taking and readiness to create jobs and face future economic challenges. Ultimately, utilizing social media in a positive and productive manner serves as an effective strategy for cultivating the entrepreneurial spirit an dinterest among Gen Z.