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This study aims to determine the effect of profitability and debt policy on Company Value at PT Kalbe Farma Tbk for the period 2012-2022. This type of research is quantitative research. The data for this study were obtained through secondary data. Based on the total sampling method, the total research sample was 44 in the form of financial reports of PT Kalbe Farma Tbk. The analysis techniques used were classical assumption tests, multiple linear regression analysis, hypothesis tests and determinant coefficient tests. The results of the study showed that the partial t-test results of the profitability variable had a negative and insignificant effect on company value, Debt Policy had a positive and significant effect on company value. The results of the simultaneous F-test of the profitability variable and debt policy had a positive and significant effect on stock prices.

Sharia cooperatives are Sharia-based economic institutions that play a strategic role in empowering the economy of the Muslim community. By adhering to principles such as the prohibition of riba (usury), gharar (uncertainty), and maysir (gambling), as well as implementing profit-sharing systems (mudharabah or musharakah), Sharia cooperatives provide a fair, transparent, and inclusive alternative to support economic activities in society. These cooperatives aim not only to achieve financial gains but also to fulfill social missions, such as poverty alleviation, equitable welfare distribution, and holistic improvement of the community’s quality of life. Various products and services offered—such as Sharia savings, halal financing, and Sharia-compliant investments—provide financial solutions that align with Islamic values and meet societal needs. Nevertheless, the implementation of Sharia cooperatives faces several challenges, including limited public understanding, competition with conventional financial institutions, and constraints in human resources and capital. Through public education, capacity building for cooperative managers, and comprehensive government policy support, Sharia cooperatives hold great potential to become a key instrument in fostering a more just, equitable, and sustainable economy. This study emphasizes the importance of integrating Sharia values into cooperative management to ensure its contribution to the sustained welfare of the community.

This qualitative literature review examines the impact of strengthened tax enforcement on corporate cash holdings, synthesizing findings from recent empirical studies. The review highlights that enhanced tax enforcement prompts firms to adopt precautionary cash management strategies, often resulting in higher cash reserves to mitigate tax-related risks. Key factors influencing this relationship include firm size, governance quality, industry characteristics, and jurisdictional tax policies. Cross-country comparisons reveal significant variations, with institutional frameworks playing a crucial role in shaping corporate responses. While stricter enforcement ensures compliance, it may inadvertently constrain investment and operational efficiency due to increased liquidity demands. This study underscores the complexity of corporate financial decision-making under tax enforcement pressures and identifies gaps for future research, particularly in emerging markets.  

The present study targets carrying out an analysis of economic and environmental returns as an effect of the adoption of a circular economy in Italy. Some of the key concepts it focuses on are promotion of private circular investment, export of recyclable material, use of circular material, eco-innovation, material footprint, and contribution of renewable energy to the total energy. The present study is supported by the systematic analysis of international data related to the role of circular economy in increasing economic efficiency and reducing environmental costs. The results highlight that private circular investment is highly relevant for the creation of new opportunities for economic development and supporting new, innovative sectors, such as recycling technologies. The results also underlined that eco-innovation plays a crucial role in improving resource efficiency, material footprint reduction, and renewable energy. The study confirms that the circular economy can be a strategic opportunity for Italy to further contribute to renewable energy and to reduce its imported natural resources dependence in a way that is both sustainable and economically competitive. The present study provides valuable insights for decision-makers and policymakers to promote circular economy strategies at national and international levels.

The interest rate in the Iraqi economy represents an active and important element in the management of monetary policy in the Iraqi economy, as it is used by the monetary authority represented by the Central Bank of Iraq to influence the money supply, as well as the impact of this also by allocating the available resources for savings among foreign investments to achieve the central goal of the monetary authority of achieving stability in prices such as the interest rate and various prices and values of investments together and thus achieve balance at the economic and financial levels. This research analyzes the relationship between interest rate changes (IRC) and foreign direct investment (FDI) in the Iraqi economy during the period from (2004-2023). Multiple analytical tools were used, including descriptive statistics, correlation analysis, time series analysis, and prediction models using ARIMA and Prophet. The results showed an association between the two variables under consideration, with the ability of the ARIMA and Prophet models to provide accurate forecasts of future   FDI trends. A quantitative methodology that includes descriptive statistics, correlation analysis, time series models, and forecasting tools has been adopted to clarify the relationship between the two variables and draw conclusions that support economic decision-making.

This study aims to examine the effect of tax planning, tunneling incentives, and foreign ownership on transfer pricing practices in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. Using a quantitative approach and panel data regression method, this study analyzes secondary data from the company's annual financial statements. The results of the study indicate that tax planning has a significant positive effect on the company's decision to carry out transfer pricing. Meanwhile, tunneling incentives and foreign ownership are proven to negatively affect transfer pricing, although with variations in influence that are not too large compared to other variables. This study provides an important contribution in understanding the factors that influence transfer pricing policies, which can be a reference for policy makers, company managers, and researchers in better tax management.

The Human Development Index (HDI) is a critical indicator that measures the quality of development in a region through health, education, and economic dimensions. This study aims to analyze the key factors influencing HDI and its impact on social development in Indonesia. Using a descriptive analysis approach, secondary data from Statistics Indonesia (BPS) were utilized to evaluate HDI trends and disparities in recent years. Findings indicate that HDI improvement directly impacts community welfare, strengthens social stability, and reduces economic inequality. However, challenges such as regional disparities and unequal access to basic services must be addressed to achieve sustainable development. The implications of this study are expected to serve as a reference for policymakers in designing more inclusive development strategies.

Campus autonomy in Indonesia provides good hope, but there are also many basic problems that disturb the hearts of the people, Especially those related to financial allocation. This study aims to examine the impact of campus autonomy on the implementation of the Single Tuition Fee (UKT) at the State Islamic University of Jakarta, community absorption of UKT, and its adaptation process. The research methodology will involve an in-depth analysis of campus autonomy policies and UKT implementation using naturalistic qualitative methods focused on a case study approach. Data was collected through in-depth interviews with key informants, namely university leaders, lecturers, students, and related stakeholders (n = 19). The data obtained are analyzed thematically. The results of the study are expected to provide a deeper understanding of the relationship between campus autonomy and UKT policies, community absorption, and its adaptation process to higher education accessibility and student experience. Data analysis will include stakeholder perceptions, changes in administrative policies and practices, and the social and economic impacts of UKT implementation. This study will summarize the main findings and their implications for the implementation of higher education management at UIN Jakarta. This research explains important implications for improving the effectiveness of campus autonomy implementation and UKT policies and provides guidance for decision-making at the institutional and government levels.

This article explores the strategic implementation of financial and fiscal policies aimed at enhancing community welfare. It begins by defining key concepts and the importance of sustainable economic growth for societal well-being. The study highlights the role of government spending and taxation in redistributing resources to underserved populations. By analyzing case studies from various countries, the article illustrates successful policy frameworks that have led to improved living standards. Furthermore, it discusses the challenges policymakers face in balancing economic efficiency with equity. The significance of stakeholder engagement in policy formulation is also emphasized, showcasing how community input can lead to more effective outcomes. Additionally, the article examines the impact of social safety nets and public services on reducing poverty and inequality. It advocates for a holistic approach that integrates both financial and fiscal measures to create a comprehensive strategy for welfare enhancement. Ultimately, the findings suggest that well-designed policies can significantly improve the quality of life for all citizens. The article concludes with recommendations for future research and policy development aimed at fostering inclusive growth.

This study explores the dynamics of Coffee Shops in fostering creative tourism in Mataram City, focusing on their role as a bridge between urban lifestyle experiences and local cultural promotion. As a relatively new phenomenon, coffee tourism remains an underdeveloped academic subject, with limited primary data available to understand its potential opportunities. The purpose of this research is to address these gaps by examining how Coffee Shops contribute to creative tourism, local economic development, and cultural preservation. Employing qualitative methods, including interviews, observations, and documentation, the study identifies key strategies and challenges faced by Coffee Shops in Mataram. Findings reveal that Coffee Shops not only enhance urban tourism experiences but also act as platforms for promoting local coffee products and cultural narratives. However, challenges such as supply chain instability, fragmented institutional policies, and limited integration with formal tourism sectors hinder their full potential. This research contributes to the growing body of literature on coffee tourism by providing insights into its role in sustainable urban tourism development and offering recommendations for policymakers and stakeholders.

Objective: This study investigates the critical role of risk management practices in enhancing corporate performance, with a specific focus on financial institutions and manufacturing sectors. The research aims to uncover how effective risk management contributes to organizational resilience, operational efficiency, and long-term sustainability.Methodology: A Systematic Literature Review (SLR) methodology was employed to analyze 11 peer-reviewed academic articles published between 2015 and 2023. The selected studies were drawn from reputable databases such as Scopus and Web of Science, using predefined inclusion criteria. The analysis focused on identifying patterns, gaps, and emerging trends in risk management practices.Findings: The study reveals that robust risk management significantly enhances organizational resilience, mitigates exposure to financial and operational risks, and fosters improved corporate governance. Frameworks such as ISO 31000 and Enterprise Risk Management (ERM) are identified as pivotal in aligning risk management with strategic objectives, thereby driving sustainable growth.Contribution: This research underscores the need for a unified and standardized risk management framework that addresses sector-specific challenges while promoting cross-industry applicability. Policymakers and industry leaders are urged to prioritize risk management as a strategic imperative, especially in times of crisis.

This study examines the strategic role of Sharia Financial Institutions (LKS) in supporting economic growth and community empowerment in Medan City. Using a qualitative approach, this study highlights the contribution of LKS in empowering micro, small, and medium enterprises (MSMEs), increasing Islamic financial literacy, and financial inclusion. Results show that LKS have an important role in strengthening the community's economy despite facing challenges such as lack of literacy, limited digital services, and minimal government support. Development strategies include improving accessibility, socialization, product innovation, and government policy support. The findings confirm the importance of strengthening the role of LKS to encourage sustainable sharia-based economic growth in Medan City.

This article analyzes monetary policy in the context of global economic challenges and its impact on economic stability and growth. In the era of globalization, dynamic changes in the global economy influence monetary policy which functions to maintain price stability and encourage growth. This research uses a qualitative research method with a literature review approach from international journals indexed by Scopus which were published in 2020-2024. The results of the research are that this research refers to several economic theories and previous studies which show that responsive monetary policy can contribute to controlling inflation and economic recovery. However, challenges such as market volatility, financial crises, and political instability are of major concern. This research concludes that the effectiveness of monetary policy varies between developed and developing countries, as well as the importance of collaboration between fiscal and monetary policy to achieve sustainable economic goals.

This research aims to analyze the influence of unemployment and the Regional Minimum Wage (UMR) on poverty in 34 provinces in Indonesia with the Human Development Index (HDI) as an intervening variable. The high unemployment rate and minimum wage policy are considered to play a significant role in poverty conditions in the region. This research uses a path analysis approach with panel data from 2018 to 2022. The research results show that the unemployment rate has a positive influence on poverty, while the UMR shows a different influence in each province. HDI is proven to mediate the relationship between unemployment, UMR and poverty. This research contributes to the development of economic science and provides insight for the government and private sector in formulating poverty reduction policies.

Based on the author's initial observations, it is known that the Public Works, Transportation, Communication and Informatics Agency of Pangandaran Regency in implementing the waste/cleanliness service policy is not optimal. The research method used in this study is a descriptive research method with a qualitative approach. The primary data in this study is data obtained from interviews with informants directly. While secondary data sources are data collected from other sources which can be in the form of documents related to the problem being studied, The Public Works, Transportation, Communication and Informatics Agency in Pangandaran District, Pangandaran Regency has not been able to implement policies on waste management properly. This can be seen in the implementation of waste management which is not in accordance with the waste management mechanism according to Law of the Republic of Indonesia Number 18 of 2008 concerning Waste Management. The obstacles faced in the implementation of waste management policies by the Public Works, Transportation, Communication and Informatics Agency of Pangandaran Regency are as follows: The technology for waste management is not yet available, Waste sorting has not been carried out by separating organic and non-organic waste, and The place and machine for recycling waste are not yet available. Efforts made to overcome obstacles in the Implementation of Waste Management Policies by the Public Works, Transportation, Communication and Informatics Agency in Pangandaran District, Pangandaran Regency, namely: Submitting an application to the local government so that waste shredding and recycling machines are budgeted in the upcoming APBD, Cooperating with third parties (private sector) in terms of waste management and sorting, and Designing a place to recycle waste.

This study analyzes the financial performance of state-owned banks (BUMN) listed on the Indonesia Stock Exchange during the period of 2019–2023 based on profitability ratios (ROA, ROE) and operational efficiency (CIR). The results show that Bank Mandiri and BRI had the best performance, with significant improvements in efficiency and profitability, achieving ROA of 2.76% and 3.08% and ROE of 20.89% and 19.09% in 2023. Meanwhile, Bank BNI experienced fluctuations in its profitability ratios, with ROA increasing to 2.25% in 2023, although slightly lower than the previous year. Nevertheless, Bank BNI showed relatively stable operational efficiency, with CIR ranging between 50% and 60%. Bank BTN, while having the lowest performance, showed significant improvement throughout the study period. This study provides important insights for investors and policymakers in understanding the dynamics of the national banking sector.

This research discusses the implementation of Pancasila values in building national economic independence that is free from neo-imperialism. Indonesia's economic dependence on foreign countries, which has increased in line with the global crisis, poses a challenge to foreign dominance in strategic sectors. This research aims to analyze how Pancasila values such as cooperation, social justice, and independence can be the basis for independent and equitable economic policies. The method used is library research with literature study and analysis of economic policy documents. The results show that the application of Pancasila values in the development of cooperatives and MSMEs as well as the distribution of economic resources can confront neo-imperialism and strengthen economic sovereignty. The research highlights the importance of synergy between the government, the private sector, and the community as well as policy reforms in favor of economic independence. In conclusion, the implementation of Pancasila values in economic policy can be a strong foundation for building sustainable national economic independence.

Population growth is a significant phenomenon in the context of global economic development. This article discusses the dynamics of population growth and its impact on a sustainable economy. Rapid growth can provide opportunities, such as increased labor force and larger consumption markets, but it also brings serious challenges, including pressure on limited natural resources and infrastructure. With an eye on the interaction between population and economy, effective strategies need to be put in place to ensure that population growth becomes an asset, not a burden. Investments in education, sustainable infrastructure development, and inclusive migration policies are key to achieving the desired balance. This article emphasizes the importance of integration between population growth and economic sustainability to build an inclusive and prosperous future for all.  

Whistleblowing is a vital mechanism for exposing unethical practices and ensuring accountability in organizations. This systematic literature review explores the interplay between the Theory of Planned Behaviour (TPB) and social influence factors—conformity, compliance, and obedience—in shaping whistleblowing behaviour. The review examines empirical and theoretical studies from 2004 to 2024 to identify how TPB constructs (attitudes, subjective norms, and perceived behavioural control) integrate with social influence dynamics to influence the intention and action of whistleblowing. The findings highlight that attitudes toward whistleblowing, shaped by personal ethics and organizational culture, significantly influence individuals’ willingness to report misconduct. Subjective norms, reflecting the perceived social pressure to act or remain silent, often intersect with conformity and compliance, either encouraging or deterring whistleblowing. Perceived behavioural control, influenced by organizational support structures and fear of retaliation, determines the feasibility of acting. The role of obedience to authority emerges as a double-edged sword, where supportive leadership fosters whistleblowing while hierarchical pressures discourage it. Furthermore, the review underscores the importance of ethical climates and whistle-blower protection mechanisms in mitigating the negative impact of social pressures. It also identifies gaps in existing research, including the limited exploration of whistleblowing in diverse cultural contexts and the lack of longitudinal studies examining long-term impacts. This study contributes to the literature by providing an integrated framework that combines TPB and social influence theories to understand whistleblowing behaviour. It offers practical insights for policymakers and organizational leaders to design interventions that encourage ethical reporting and protect whistle blowers.

This research explores an in-depth understanding of how society responds to insurance policy analysis in non-bank financial institutions through a phenomenological approach. The findings show that limited financial literacy is the main challenge in understanding the complexity of insurance products outside of banking. The influence of personal experience, cultural values, and risk perceptions also shape people's perceptions of the value of insurance. Additionally, variations in participation levels and decision-making patterns were also revealed, weakening the understanding of risk levels. These financial literacy challenges cause chaos and confusion, hindering public participation in insurance products at non-bank financial institutions. Efforts to improve financial literacy and increase understanding of insurance claims are crucial to stimulate optimal community participation. The application of insurance remains relevant in helping people overcome financial problems due to unexpected events, building trust, and creating economic stability in the context of non-bank financial institutions.