Publication Search

Cryptocurrency has become a rapidly developing digital asset class that attracts widespread investor interest due to its decentralized, anonymous, and highly volatile nature. Such volatility creates uncertainty in market movements, making it important to understand the factors that drive fluctuations in returns. This research aims to examine how fundamental indicators namely price, trading volume, and market capitalization affect return volatility, as well as to determine which cryptocurrency demonstrates the highest market efficiency based on risk assessment. The study uses panel data covering the five largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, USD Coin, and Binance Coin) over the period 2019–2023. The analytical methods applied include panel data regression to identify the determinants of volatility and Value at Risk (VaR) to measure asset risk and efficiency. The findings show that price and trading volume positively and significantly increase return volatility, whereas market capitalization exerts a negative and significant effect, indicating its stabilizing role. Based on VaR analysis, Binance Coin (BNB) emerges as the asset with the highest market efficiency. The study concludes that fundamental indicators play a crucial role in shaping volatility and that BNB offers relatively better risk performance compared to its peers.

The transformation of the retail industry in Indonesia is accelerating in line with increasing digital penetration and changes in consumer shopping behavior. This condition requires small-scale retail, including fresh marts, to be able to optimize effective marketing stimulus to maintain and increase consumer buying interest. This study aims to analyze the role of marketing stimulus consisting of price, product variety, and promotion as a predictor of consumer buying interest using the Stimulus Organism Response (SOR) theoretical approach. This study involved 105 consumer respondents of Rizky Fresh Mart Semarang, who were selected through accidental sampling techniques. Data were collected using a Likert scale questionnaire and analyzed through multiple linear regression. The results showed that product variations had a positive and significant effect on buying interest, while prices and promotions showed a positive but insignificant influence. Simultaneously, the three marketing stimuli have a significant effect on consumer buying interest. These findings confirm that in the context of small-scale retail in Indonesia, product variety is the most powerful stimulus in shaping consumer perception before generating a response in the form of buying interest, according to the SOR model. This research provides managerial implications for retailers to prioritize completeness and product diversity, in addition to more strategic price management and promotion.

Education plays a vital role in shaping character and developing individual potential, with the ability to collaborate being crucial in this global era. This study focuses on the low level of student collaboration and suboptimal Aqidah Akhlak learning outcomes at MA Muhammadiyah 1 Ponorogo, caused by a lack of innovative learning methods. Therefore, this study aims to examine the application of the Project-Based Learning method as a solution to improve student collaboration and learning outcomes. This study aims to: (1) describe the application of the Project-Based Learning method in teaching Aqidah Akhlak in class XI of MA Muhammadiyah 1 Ponorogo, (2) determine the impact of the Project-Based Learning method on student collaboration and learning outcomes, and (3) determine student perceptions of the application of the Project-Based Learning method in teaching Aqidah Akhlak. This study used a qualitative approach with descriptive methods. Data were collected through observation, interviews (with the principal, vice principal for curriculum, Aqidah Akhlak teacher, and class XI students), and documentation. The data analysis technique used was the Miles and Huberman model, which includes data reduction, data presentation, and drawing conclusions. The results of the study show that: (1) the implementation of the Project Based Learning method is carried out through structured steps, encouraging active cooperation between teachers and students, with an emphasis on equal roles and responsibilities of each, (2) the Project Based Learning method has a positive impact on increasing collaboration, educational outcomes, and the development of students’ knowledge, attitudes, and skills as a whole, with changes in behavior that are seen in depth, (3) students have a positive view of the Project Based Learning method because it is considered more interesting, interactive, meaningful, and relevant to everyday life, which can be seen from increased motivation and active participation.

This research aims to compare modern international trade theories from conventional and Islamic economic perspectives. The technique used is a literature review through the analysis of sources from journals, books, and related research. The findings of this research indicate that international trade theory in the conventional perspective prioritizes efficiency, specialization, and increased profits through free market mechanisms, such as the theory of absolute advantage, comparative advantage, the H-O factor proportion, and the theory of large-scale economies. However, this approach often overlooks moral aspects, distributional justice, and the risk of exploitation. On the other hand, the Islamic perspective views trade as a muamalah activity based on justice, trustworthiness (amanah), the prohibition of riba (interest), gharar (uncertainty), and maisir (gambling), as well as the objectives of maqasid sharia (the objectives of Sharia). Both views recognize the importance of trade for economic growth but differ in their basic values and ethics. In today's era of globalization and digitalization, the importance of integrating Islamic values into international trade is increasingly understood. This aims to build a more just, sustainable, and inclusive trading system. This research emphasizes the need to apply Sharia principles in contemporary trade practices, including the application of Islamic financial instruments, the development of halal e-commerce platforms, and ethical oversight within global supply chains. In this way, it is hoped that international trade can provide broader benefits to all of humanity, in accordance with the principles of justice and welfare in Islam. The interconnectedness of both approaches in the digital context demonstrates the need to unite Islamic moral values with changes in today's global trade.

Using a systematic literature review approach to various previously published studies, this research investigates the influence of consumer nationalism on the intention to purchase domestic products. The purpose of this study is to find patterns of results, influencing components, and the impact of consumer nationalism on their behavior when purchasing local products. Data were collected from articles in relevant national and international journals, particularly those discussing ideas about consumer nationalism, consumer ethnocentrism, and factors determining purchase intention. The findings of the study indicate that consumer nationalism has a positive and significant effect on consumers' intention to purchase domestic goods. A number of variables, including product quality perceptions, price sensitivity, cosmopolitanism levels, and consumer demographics, especially Generation Z, who tend to be involved in the digital world, influence this effect. In addition, this study found that customer awareness, attitudes, and preferences towards local products are influenced by social media and digital campaigns such as the Bangga Buatan Indonesia (Proudly Made in Indonesia) program. The results of this study provide strategic benefits for businesses when they develop marketing plans based on the value of nationalism. These results can also be used as a reference for public policies aimed at increasing consumption and competitiveness of domestic products through the implementation of such policies.

The purpose of this study was to examine how problem-based mathematics learning affected the learning interest of 5- to 6-year-old students at the Ki Hajar Dewantara State Kindergarten in South Jakarta. To compare problem-based mathematics learning and conventional learning, this study used a quantitative method and a quasi-experimental design. Problem-based learning is intended to use mathematical problems in children's daily lives. Children in group B were divided into experimental and control groups. To collect data, structured observations were conducted on elements of children's interest in learning. These included enjoyment, focus, activity, and willingness to participate in learning activities. To determine the difference in the level of interest in learning between the two groups, the data obtained was analyzed statistically. The results showed that, compared to conventional learning, problem-based mathematics learning had a significant effect on increasing children's interest in learning. Children showed more enthusiasm, better concentration, active involvement in activities, and critical thinking skills in solving mathematical problems. The results showed that effective problem-based mathematics learning made learning meaningful, enjoyable, and appropriate for the characteristics of early childhood development.

The establishment of the age limit for children up to 18 years in Indonesian law is a normative instrument that aims to ensure legal certainty and child protection. This provision is adopted in various laws and regulations as a form of the state's commitment to fulfilling children's rights. However, in law enforcement practice, the application of this age limit often causes problems when faced with the dynamics of actual cases that reveal a discrepancy between the normative age and the social, psychological, and factual conditions of the child. This condition creates tension between the legal-formal approach that emphasizes legal certainty and the need for substantive justice oriented towards the best interests of the child. This study aims to analyze the problems of applying the age limit of 18 years in the context of actual cases and to examine how the tension between legal certainty and the reality of children is reflected in law enforcement practices in Indonesia. The research method used is normative legal research with a legislative and conceptual approach, as well as normative qualitative analysis. The results of the study show that the rigid application of the age limit for children has the potential to ignore the contextual aspects of children and give rise to inconsistencies in practice. Therefore, a more contextual legal approach is needed through strengthening the discretion of law enforcement officials and progressive interpretation by judges in order to achieve substantive justice and optimal protection for children.

Share trading in limited liability companies that does not comply with the procedures for transferring share ownership under the Company Law may lead to legal disputes, particularly unpaid share transactions. This study examines the annulment of share sales by the court to protect the seller’s interests when the buyer defaults, based on Article 1320 of the Indonesian Civil Code. The case analyzed is District Court Decision No. 6 K/Pdt.G/2017. Legal protection for sellers includes clauses concerning legal subjects and objects, price, payment methods, share transfer, and dispute resolution in accordance with Articles 1457 and 1513 of the Civil Code. Using a normative juridical method with statutory, conceptual, analytical, and case approaches, the study concludes that default in share sale agreements may nullify ownership rights. Therefore, strict sanctions and legal remedies through the court are essential to safeguard shareholders’ rights.

This research examines the implementation of the curator’s role in the bankruptcy process following the Postponement of Debt Payment Obligations (PKPU) based on Law Number 37 of 2004 concerning Bankruptcy and Postponement of Debt Payment Obligations. The main objective of this study is to analyze the role, authority, and challenges faced by curators in carrying out their duties in accordance with Indonesia’s positive legal framework. This research employs a normative juridical approach combined with an empirical juridical approach, incorporating a review of legal literature, court rulings, and statutory regulations, as well as interviews with curators and supervising judges in commercial courts. The findings reveal that curators play a central role as administrators and liquidators of bankrupt estates, with the authority to inventory, secure, manage, and liquidate the debtor’s assets to protect creditors’ interests. Pursuant to Law Number 37 of 2004, curators are also responsible for overseeing the bankruptcy process, preparing reports, and ensuring that the distribution of liquidation proceeds is conducted transparently and equitably. However, the implementation of this role often faces obstacles such as limited curator competence and resources, external interference, the complexity of bankruptcy laws, and inadequate judicial supervision. This study emphasizes the importance of legal reform, professional capacity building, and the adoption of digital technology to enhance the effectiveness of Indonesia’s bankruptcy system. A professional, accountable, and integrity-driven curator is essential to achieving the fundamental objectives of bankruptcy law—ensuring fair, efficient, and transparent debt settlement for all parties involved.

This study is entitled "The Role of the Indonesian Transport Workers Federation (FSPTI) in Defending the Rights of Stevedoring Workers (TKBM) in Padangsidimpuan City". The background of this study is based on the importance of the existence of trade unions as a forum for workers' struggle in protecting and fighting for the normative rights of workers as guaranteed in Law Number 21 of 2000 concerning Workers' Unions/Labor Unions. In practice, many workers still face employment problems due to their weak bargaining position, lack of legal awareness, and low protection from employers. The purpose of this study is to determine and analyze the role of the FSPTI of Padangsidimpuan City in defending the rights of Stevedoring Workers, as well as to assess the effectiveness of the implementation of Law Number 21 of 2000 on the implementation of trade union functions at the regional level. The research method used is empirical juridical, with a qualitative approach that combines primary data through interviews, as well as secondary data through literature reviews of laws and regulations and related legal literature. The research results indicate that the Padangsidimpuan FSPTI plays a strategic role in advancing the interests of TKBM workers through advocacy, legal assistance, and negotiations with employers and local governments. However, the implementation of Law Number 21 of 2000 has not been fully effective due to challenges such as limited resources, low participant participation, and weak enforcement of labor laws. Overall, the FSPTI has made maximum efforts to advocate for the rights of TKBM workers, but further government support and organizational capacity building are needed to further optimize the union's function.

This study aims to analyze the role of UINSU’s Community Service Program (KKN) students in enhancing Islamic entrepreneurial awareness among the residents of Pahang Village, Talawi District, Batu Bara Regency. The KKN program serves as a platform for applying academic knowledge while empowering communities through educational, persuasive, and participatory approaches. The students introduced fundamental concepts of Islamic entrepreneurship, including principles of justice, honesty, sustainability, and the avoidance of riba, gharar, and maisir. Through a series of activities such as seminars, micro-business training sessions, financial management mentoring based on sharia principles, and simple business model simulations, the villagers began to show improved understanding of Islamic economic values. Moreover, the active involvement of students created an inclusive learning environment that was accessible to various community groups. The findings indicate that the presence of KKN students contributed positively to cultivating entrepreneurial motivation, particularly among youth and micro-business actors. This improvement was reflected in changes in mindset, interest in initiating halal businesses, and increased awareness of applying sharia principles in daily economic activities. Thus, the KKN program not only provides practical experience for students but also offers a tangible contribution to strengthening sharia-based economic empowerment at the village level.

In the learning process, educators often face challenges in helping students achieve optimal learning outcomes. One of the contributing factors is the dominance of teacher-centered learning models, which frequently leads to low student engagement and reduced motivation. This condition affects students’ curiosity, particularly in Science learning, which requires active participation and exploration. Therefore, innovative teaching materials are needed to encourage student involvement while simultaneously stimulating their curiosity. One alternative that can be utilized is the Student Worksheet (Lembar Kerja Peserta Didik/LKPD), which can be designed systematically and contextually to support active learning. This study aims to determine the effectiveness of using LKPD in enhancing students’ curiosity in Grade VII Science learning at SMPN 1 Sanrobone. The research employed a Classroom Action Research (CAR) approach carried out in two cycles, each consisting of planning, implementation, observation, and reflection stages. The findings indicate a significant increase in students’ curiosity after the implementation of LKPD, as shown by improvements in questioning behavior, interest in the material, and the ability to observe and explore scientific phenomena. Based on these results, it can be concluded that the use of LKPD is effective in fostering students’ curiosity and contributes to a more interactive and meaningful Science learning experience.

This study aims to analyze the effect of global diversification, exchange rates, and interest rates on the performance of mixed mutual funds in Indonesia during the period 2020–2024. The method used is a quantitative approach with the Partial Least Squares–Structural Equation Modeling (PLS-SEM) technique, using secondary data from the Financial Services Authority, Bank Indonesia, and Bareksa. The sample consists of three mixed mutual fund products that meet the criteria of portfolio data completeness, net asset value, and performance report publication. The results show that exchange rates have a positive and significant effect on mutual fund performance, indicating that exchange rate fluctuations play an important role in determining changes in portfolio returns. The global diversification variable proved to have no significant effect, illustrating that exposure to international markets has not provided stable benefits in improving the performance of mixed mutual funds. Interest rates also did not show a significant effect because the composition of mixed portfolios was able to withstand the impact of monetary policy changes. Simultaneously, the three independent variables were able to explain 66.7 percent of the variation in mixed mutual fund performance, indicating that macroeconomic dynamics and portfolio strategies have an important contribution in influencing the performance of this collective investment instrument.

The transformation of marketing strategies from conventional methods to digital marketing has become an important factor in the development of the beauty industry, especially for Make Up Artists (MUAs) in Bandung. This study aims to analyze the impact of digital marketing through social media on increasing customer interest and the number of MUA service users, with a case study of Iwan Haadi, a professional MUA in Bandung who is active on Instagram (@iwanhaadimakeup) and TikTok (@iwanhaadi). This research employs a descriptive qualitative method with a case study approach, using interviews, observations of social media activities, and documentation of digital promotional content. The results show that before implementing digital marketing, MUAs generally relied on conventional promotions such as word of mouth and collaborations with wedding organizers. However, technological developments have encouraged many MUAs to shift to social media to expand their promotional reach. Based on observations of Iwan Haadi and 20 other MUAs in Bandung, around 85% have utilized social media particularly Instagram and TikTok to showcase their portfolios and client testimonials. The implementation of digital marketing strategies has proven to increase brand awareness and the number of customers by up to 65% over the past two years. In conclusion, digital marketing has a significant influence on increasing customers and competitiveness among MUAs in Bandung. Consistent and creative use of social media is the key to attracting customer interest and strengthening a professional image in the modern beauty industry.

This study aims to analyze the influence of terminal users’ perceptions on business development opportunities at Mangkang Type A Terminal, Semarang City, managed by the Central Java Class I Transportation Management Agency (BPTD). As a major transportation hub, the terminal functions not only as a passenger transit point but also as a strategic economic area with potential for commercial facility development. However, the utilization of business opportunities at Mangkang Terminal remains suboptimal, necessitating an evidence-based analysis of the factors that shape these opportunities. This research employs a quantitative approach using a survey method involving terminal users, including passengers, public transport drivers, and terminal visitors. Data were collected using a Likert-scale questionnaire and analyzed through multiple linear regression to examine the influence of user perceptions on business potential, which includes interest in facility usage, demand for additional services, and preferences for commercial space utilization. The findings indicate that perceptions related to comfort, safety, cleanliness, accessibility, and service quality significantly affect business development opportunities. Comfort and service quality emerge as the most dominant factors driving user interest in commercial facilities. These results emphasize that improving terminal service quality can serve as an effective strategy to expand business opportunities and enhance non-tax revenue.

Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh lokasi, biaya kuliah, dan promosi terhadap minat mahasiswa untuk melanjutkan studi di Institut Teknologi dan Bisnis (ITB) Semarang. Fokus penelitian diarahkan pada faktor-faktor eksternal yang diduga memiliki peran penting dalam menentukan minat mahasiswa dalam memilih perguruan tinggi. Penelitian ini menggunakan pendekatan kuantitatif dengan memanfaatkan data primer yang diperoleh melalui penyebaran kuesioner berbasis Google Form. Populasi penelitian adalah seluruh mahasiswa ITB Semarang, sedangkan sampel penelitian adalah mahasiswa tahun ajaran 2024/2025 yang dipilih melalui teknik purposive sampling, dengan jumlah responden sebanyak 65 orang. Analisis data dilakukan menggunakan regresi linear berganda untuk menguji pengaruh dari  masing-masing variabel independen terhadap variabel dependen. Hasil penelitian menunjukkan bahwa lokasi, biaya kuliah, dan promosi berpengaruh positif dan signifikan terhadap minat mahasiswa memilih ITB Semarang sebagai tempat melanjutkan pendidikan tinggi. Temuan ini menegaskan bahwa semakin strategis lokasi kampus, semakin terjangkau biaya kuliah, dan semakin efektif promosi yang dilakukan, maka semakin tinggi minat mahasiswa untuk mendaftar.

This study aims to analyze the factors that influence students' interest in continuing their education to college using a machine learning approach. Data was collected through an online questionnaire completed by 727 students between July 27 and August 22, 2025, covering 23 variables consisting of respondent identity (gender, grade level, major) as well as internal and external factors such as parental support, learning motivation, and preferred type of college. The data preparation stage was carried out through column cleaning, deletion of empty data, encoding of categorical variables, and division of the dataset into 80% training data and 20% test data. The Naive Bayes algorithm of the CategoricalNB type was used because it was suitable for the categorical nature of the data. The evaluation results showed that the model was able to predict student interest with 96% accuracy. For the class of students interested in continuing their studies, the precision, recall, and F1-score values were above 0.95, while the performance in the class of students who were not interested was slightly lower due to the smaller amount of data. These findings show that Naive Bayes is proven to be effective and reliable in classifying students' interest in continuing their studies and can be the basis for decision-making in designing more targeted educational strategies.

The growing interest in learning the Japanese language in Indonesia, driven by popular culture such as anime, creates a need to understand the effectiveness of different learning media. The non-uniform effectiveness of media for each individual poses a major challenge. Therefore, this study aims to analyze the effectiveness of both anime and textbooks by segmenting learner profiles and identifying key determinants of success using an artificial intelligence approach. This research employed a quantitative method through a questionnaire survey of 120 respondents. The data were analyzed in two stages: the K-Means Clustering algorithm was used to group respondents into learner profiles, and the Decision Tree algorithm was used to identify the most significant factors that differentiate these profiles. The analysis successfully identified three distinct learner profiles: "Intensive & Adaptive Learner," "Flexible Learner," and "Passive Learner." The decision tree revealed that the perception of textbook effectiveness and the frequency of anime use are the strongest predictors in determining a learner's profile, more so than theoretical learning style preferences. It is concluded that media effectiveness is highly dependent on the learner's behavioral and perceptual profile, which underscores the importance of a personalized approach in language education technology.

Angklung is one of the traditional musical instruments originating from the Sundanese culture in West Java, Indonesia, and has been recognized as an Intangible Cultural Heritage by UNESCO since 2010. This research aims to analyze the functions, values, and development of angklung in West Java society. The study applies a qualitative descriptive approach through literature review, field observations, and interviews with cultural practitioners. The findings show that angklung plays an important role not only as a musical medium but also as a tool for social cohesion, educational development, and cultural identity preservation. Over time, angklung has experienced significant transformation in terms of performance, musical arrangements, and adaptation in modern contexts, such as tourism, creative industries, and international collaborations. However, challenges remain in maintaining authenticity amid commercialization and the declining interest of younger generations in traditional musical arts. This study highlights the need for continuous cultural education, community engagement, and government support to sustain angklung's legacy. The implications of this study contribute to cultural preservation strategies and provide insights into the sustainable development of traditional arts in the modern era.

The right to immunity for advocates is an important instrument to ensure that advocates can practice their profession freely, especially in defending clients' interests in court, without being disturbed by legal threats. However, this right is not absolute and can be lost if the advocate violates the code of ethics or harms the dignity of the court, as in the case of Razman Arif Nasution, which raised questions about the balance between professional protection and ethical responsibility. This paper aims to examine the limits of the right to immunity for advocates in the context of violations of professional ethics, as well as explore its legal implications for the disciplinary mechanisms of advocate organizations. The method used is normative juridical, with a statute approach and a case study approach. The study findings indicate that advocate protection must still be linked to compliance with professional ethics, so that in practice disciplinary mechanisms have a strategic role in upholding professionalism.