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This study aims to analyze the effect of Return on Asset (ROA), Current Ratio (CR), Net Profit Margin (NPM), and Total Asset Turnover (TATO) on company value as measured by Price Book Value (PBV) in property and real estate sector companies listed on the Indonesia Stock Exchange for the 2019–2023 period. This research adopts a quantitative method with a causal associative approach. The data was obtained from the financial reports of eight companies that met the purposive sampling criteria. Data analysis was conducted using multiple linear regression with the help of SPSS software. The results show that, partially, ROA and CR have a significant negative effect on PBV, while NPM does not have a significant effect on PBV, and TATO has a significant negative effect on PBV. Simultaneously, all four independent variables significantly affect PBV, with an R² value of 12.3%, indicating that most of the PBV variations are explained by other factors outside the research model. These findings provide insights for investors and company management regarding the importance of asset management and operational efficiency in enhancing firm market value.

This study aims to analyze the contribution of Regional Original Revenue (PAD) sources, the growth of PAD, and the level of regional fiscal independence in Tanjung Jabung Barat Regency during the 2017–2024 period. The PAD sources examined include local taxes, regional retributions, returns from separated regional assets, and other legitimate PAD. The data used in this study are secondary data in the form of Budget Realization Reports (LRA) of Tanjung Jabung Barat Regency for the period 2017–2024, obtained from the Regional Revenue Agency (Bapenda) of Tanjung Jabung Barat and the Directorate General of Fiscal Balance. This research employs a quantitative descriptive approach. The analytical techniques used include contribution analysis of PAD sources (local taxes, regional retributions, returns from separated regional assets, and other legitimate PAD), PAD growth analysis, and fiscal independence ratio analysis. The results indicate that PAD is predominantly contributed by other legitimate PAD, accounting for 62.54% of total PAD, followed by local taxes contributing 26.06%, while regional retributions and returns from separated regional assets contribute relatively low proportions. The growth of PAD during the study period shows fluctuations influenced by economic conditions, including the impact of the COVID-19 pandemic. Furthermore, the level of fiscal independence in Tanjung Jabung Barat Regency is categorized as very low, as reflected in the high dependence on transfer funds from the central government and other governmental assistance.

Investment decisions in pharmaceutical manufacturing companies listed on the Indonesia Stock Exchange (IDX) are influenced by fundamental analysis and stock price fluctuations. Stock prices reflect market perceptions shaped by profitability, liquidity, and capital structure. This study examines the effects of Return on Assets (ROA), Current Ratio (CR), and Debt-to-Equity Ratio (DER) on stock prices, both partially and simultaneously. Using a quantitative approach, the study analyzes secondary data from audited financial statements and stock prices of 12 pharmaceutical companies during 2022–2024, totaling 36 observations. Panel data regression with EViews 12 is applied. Results show that ROA and DER have positive and significant effects on stock prices, while CR has a negative but insignificant effect. Simultaneously, all three variables significantly influence stock prices, with an adjusted R² of 73%, indicating strong explanatory power. Profitability (ROA) is the most influential factor, followed by capital structure (DER), while liquidity (CR) shows no significant impact.

PT Telkom Indonesia (Persero) Tbk (Telkom) is a company that is part of the state-owned enterprises (SOEs) and operates specifically in the field of information technology, communication, and digital telecommunications services in Indonesia. For that reason, financial statement analysis is needed as a source of information about the company's financial condition. Based on the financial reports of PT Telekomunikasi Tbk for the period from 2019 to 2023, there has been a fluctuating increase despite Indonesia being hit by the COVID-19 pandemic in 2020 to 2021. The type of research is quantitative descriptive research with data sourced from the financial reports of PT Telekomunikasi Tbk as of December 31 from 2019 to 2023. The first result, the assessment of the financial performance of PT Telekomunikasi Tbk based on liquidity ratio analysis using the current ratio, shows that the current ratio from 2019 to 2023 has experienced fluctuating conditions but remains in the very good category, above the industry's minimum standard of 200%. Secondly, the results of the solvency ratio analysis using the Debt to Asset ratio (DAR) indicate that the DAR value from 2019 to 2023 is in the very good category, with a value below the industry's maximum standard of 35%. Thirdly, the analysis of profitability ratios using the Return on Equity (ROE) ratio reveals that the ROE value from 2019 to 2023 has experienced fluctuating conditions but remains above the industry standard of 40%.

Digital transformation through the Electronic-Based Government Sistem (SPBE) requires public institutions to optimize services through information sistems, yet technical obstacles are frequently encountered in practice. This study aims to analyze the implementation of the INLISLite application in book lending services at the Sidoarjo Library and Archives Service and to identify barriers to data integration between the head office and outdoor services. The research method employed is descriptive qualitative, with data collection techniques involving observation, in-depth interviews, and documentation. The results indicate that while the implementation of INLISLite has improved circulation efficiency at the head office, mobile library services still face significant constraints due to limited internet connectivity. This condition forces field officers to rely on manual recording, which triggers a double-entry data phenomenon upon returning to the head office, thereby delaying real-time book stock synchronization and increasing the risk of human error. In conclusion, the effectiveness of the information sistem has not yet reached all service units harmoniously. The researcher suggests the need to strengthen network infrastructure in mobile library operational areas and to develop sistem modules that support periodic data synchronization modes to ensure data accountability and more responsive public service quality in Sidoarjo Regency.

Abstract. The high number of cases of violence against children, particularly children with disabilities, presents unique challenges for law enforcement, especially during investigations. One case that has captured public attention occurred in the Sleman judicial district. A child with a disability was abused in various ways by a caregiver at a daycare center. The research questions addressed in this study are, How does the law enforcement process for cases of violence against children with disabilities (a case study of child abuse in Sleman Regency) proceed at the investigation and prosecution stages; What challenges are encountered in the law enforcement process for cases of violence against children with disabilities at the investigation and prosecution stages? The research method used is empirical legal research, with data sources obtained through direct field research at police stations and district attorneys’ offices. Data were collected through interviews with informants. The research findings indicate that the legal enforcement process for cases of violence against children with disabilities, both at the investigative and prosecutorial stages, proceeds in accordance with procedures up to Stage 1 (the first stage), wherein the investigator submits the case file to the prosecutor’s office, and the prosecutor’s office has returned the case file (P19) to be supplemented in accordance with the public prosecutor’s instructions. The challenge faced is that the victim is no longer proactive regarding the reported case. Keywords: Violence, Children with Disabilities, Daycare, Investigation. Abstrak. Banyaknya kasus kekerasan pada anak, terutama anak dengan disabilitas menjadikan penegakan hukum memiliki tantangan tersendiri terutama pada saat pemeriksaan. Salah satu kasus yang menyita perhatian public terjadi di wilayah hukum Sleman. Anak disabilitas dianiaya oleh pengasuh dari tempat penitipan dengan berbagai cara. Rumusan masalah yang diangkat dalam penelitian ini, yaitu: Bagaimana proses penegakan hukum kasus kekerasan anak disabilitas (studi kasus kekerasan anak di wilayah Kabupaten Sleman) di tingkat penyidikan dan penuntutan; Bagaimana kendala yang dihadapi dalam proses penegakan hukum kasus kekerasan anak disabilitas (studi kasus kekerasan anak di wilayah hukum Kabupaten Sleman) di tingkat penyidikan dan penuntutan. Metode penelitian yang digunakan dalam yaitu penelitian yuridis empiris dengan sumber data melakukan penelitian secara langsung di lapangan, yakni di kepolisian dan kejaksaan. Pengambilan data dilakukan dengan wawancara narasumber. Berdasarkan hasil penelitian menunjukkan bahwa proses penegakan hukum kasus kekerasan anak disabilitas (studi kasus kekerasan anak di wilayah hukum Sleman) baik di tingkat penyidikan dan di tingkat penuntutan berjalan sesuai prosedur sampai dengan tahap 1 (pertama) yaitu penyidik melakukan kirim berkas perkara kepada pihak kejaksaan dan dari pihak kejaksaan telah melakukan pengembalian berkas perkara (P19) untuk dilengkapinya berkas tersebut sesuai dengan petunjuk Jaksa Penuntut Umum. Kendala yang dihadapi yaitu pihak korban sudah tidak proaktif terkait kasus yang dilaporkan. Kata kunci: Kekerasan, Anak Disabilitas, Rumah Penitipan Anak, Penyidikan.

This study aims to analyze the impact of the USD/CNY exchange rate and the Federal Reserve interest rate on the stock returns of Volkswagen AG. Volkswagen AG is chosen as the object of analysis because it is a multinational corporation with significant exposure to the Chinese market, making it highly sensitive to fluctuations in global economic conditions, particularly exchange rate movements and monetary policy changes. The study adopts a quantitative research approach using multiple linear regression analysis to examine the relationships between variables. The data used are monthly secondary data covering the period from 2017 to 2023, resulting in 84 observations. The dependent variable in this study is Volkswagen AG stock returns, while the independent variables consist of the USD/CNY exchange rate and the Federal Funds Rate. The empirical results show that the USD/CNY exchange rate has a negative and statistically significant effect on Volkswagen AG stock returns, indicating that currency depreciation or appreciation plays a crucial role in influencing investor sentiment and firm valuation. In contrast, the Federal Funds Rate does not show a statistically significant effect on stock returns during the observed period. However, the simultaneous test indicates that both variables jointly have a significant influence on Volkswagen AG stock returns. Overall, the findings suggest that exchange rate risk is more dominant than U.S. monetary policy in affecting the stock performance of Volkswagen AG over the study period.

Shares trading below their intrinsic value present compelling return opportunities, particularly for long‑term investors. This study aims to assess the valuation of eight food‑and‑beverage issuers listed on the Indonesia Stock Exchange (IDX) over the 2021–2025 period using two market‑based valuation instruments: the Price to Earnings Ratio (PER) and the Price to Book Value (PBV). A quantitative descriptive design was employed, and a purposive sampling technique selected eight issuers: INDF, ICBP, MYOR, ROTI, GOOD, CLEO, CMRY, and CAMP. The sectoral benchmarks obtained were an average industry PER of 22.64 times and an average industry PBV of 3.45 times. Comparative analysis reveals that INDF (PER 7.38x; PBV 0.59x), ICBP (PER 17.60x; PBV 1.83x), ROTI (PER 18.86x; PBV 2.47x), and CAMP (PER 16.59x; PBV 1.78x) are undervalued relative to the industry average and therefore merit consideration as buy candidates, while MYOR, GOOD, CLEO, and CMRY are overvalued. INDF emerges as the most attractive investment candidate because its PBV remained consistently below 1.00 throughout the observation window, a condition recognized in value‑investing literature as deeply undervalued. The findings reinforce the argument that combining PER and PBV serves as a reliable tool for identifying high‑potential stocks from a fundamental analysis perspective.

Digital transformation in the tax sector is a strategy of the Direktorat Jendral Pajak (DJP) to improve the quality of service and taxpayer compliance. One form of this transformation is the implementation of the Coretax system as an integrated tax administration system that replaces the DJP Online system. This system change poses adaptation challenges for taxpayers, particularly in reporting Annual Tax Returns, which has the potential to affect the accuracy of tax payments. This study aims to analyze the optimization of the transition of Annual Tax Return reporting through the Coretax system on the accuracy of individual taxpayer payments at the North Sidoarjo Tax Office (KPP Pratama). The research method used is descriptive qualitative with data collection techniques such as observation of the Annual Tax Return reporting assistance process, documentation, and interviews with three taxpayers. The results show that the Coretax system is able to improve the accuracy of tax filing through data integration and automatic validation, thereby encouraging the accuracy of the amount and timeliness of tax payments. However, technical system constraints and limitations in taxpayer digital literacy were still encountered during the transition period. Assistance from tax officers and tax volunteers proved to be instrumental in helping taxpayers adapt to the Coretax system. This study concludes that optimizing the transition of the Coretax system requires a combination of system improvements and strengthening taxpayer education to achieve sustainable accuracy of tax payments.

This study evaluates how macroeconomic variables such as interest rates, inflation, and exchange rates affect the returns on corporate bonds issued by the banking sector in Indonesia. Corporate bonds are an attractive investment alternative, but their performance is highly influenced by fluctuations in national economic conditions. This study uses secondary data obtained from company financial reports, macroeconomic data, and bond market information over a certain period. Multiple linear regression analysis is applied to assess the extent to which each factor affects bond returns. The analysis results indicate that increases in interest rates and inflation tend to reduce bond returns, while the effect of exchange rates is inconsistent and depends on the economic stability at the time. These findings can serve as important considerations for investors, financial analysts, and policymakers in managing risks and opportunities in the Indonesia banking bondmarket.

Libraries play a crucial role in broadening the public's knowledge horizons by improving literacy skills. However, the reality at the Samaturu Library in Jambu Malea Village shows that manual management still dominates, leading to various administrative obstacles such as data irregularities, the risk of losing important information, and inefficiencies in tracking daily activities. This condition demands digital transformation to optimize public services at the village level comprehensively and sustainably. This research focuses on the development of a web-based library information system specifically designed to modernize administrative processes to be more systematic, fast, and organized. Built using the PHP programming language and MySQL database, this platform offers an intuitive interface for both staff and members. Its superior features include book data management, membership, activity agendas, announcements, and digitizing the borrowing and return process. Furthermore, the system is capable of automatically generating periodic reports to facilitate library performance evaluation. Based on the results of comprehensive testing using the Black Box Testing method, all system functionality was proven to operate optimally according to the required specifications. Direct user trials also showed very positive responses regarding aspects of ease of navigation and operational time efficiency. The implementation of this system is expected to improve the effectiveness of internal management, accelerate the quality of services to library users, and become a major catalyst in realizing superior digital literacy governance in rural areas

This study aims to analyze the effect of capital structure and financial performance on firm value at PT Elang Mahkota Teknologi Tbk during the period 2015–2024. Capital structure is proxied by the Debt to Equity Ratio (DER), financial performance is measured by Return on Equity (ROE), and firm value is proxied by Price to Book Value (PBV). This research employs a quantitative approach with a descriptive method. The data analysis techniques used include multiple linear regression analysis, t-test, F-test, and coefficient of determination. The results show that capital structure (DER) has a positive and significant effect on firm value, as indicated by a t-statistic of 3.302, which is greater than the t-table value of 2.365, with a significance level of 0.013 (< 0.05). Financial performance (ROE) also has a positive and significant effect on firm value, with a t-statistic of 2.638, exceeding the t-table value of 2.365, and a significance level of 0.034 (< 0.05). Simultaneously, DER and ROE have a significant effect on firm value, as evidenced by an F-statistic of 6.384, which is greater than the F-table value of 4.737, with a significance level of 0.026 (< 0.05). The coefficient of determination indicates that 64.6% of the variation in firm value can be explained by capital structure and financial performance, while the remaining percentage is influenced by other variables outside the research model.

 This study was conducted to evaluate the influence of Total Asset Turnover (TATO), Debt to Equity Ratio (DER), and Net Profit Margin (NPM) in predicting stock return fluctuations. The study focuses on retail sector issuers listed on the Indonesian Stock Exchange (IDX) between 2021 and 2024. Through the application of panel data regression analysis, the study determined that the Common Effects Model (CEM) is the most appropriate estimation method. This decision was made based on a series of tests including the Chow Test and the Lagrange Multiplier. Although classical assumption testing showed symptoms of heteroscedasticity, this problem was addressed using the EGLS (cross-sector weighting) Panel method to ensure the validity of the estimates. Based on partial testing, it is found that TATO and NPM variables have a positive and significant contribution to stock returns, while DER is found to have no significant effect. Collectively, all independent variables had a significant effect, with the Adjusted R-Square value reaching 27.80%. This indicates that for investors in the retail sector, profitability and operational efficiency are important indicators in making investment decisions.

Stock market volatility represents a key indicator of financial market uncertainty, particularly in emerging economies where market structures are still evolving and are highly sensitive to global shocks. This study aims to analyze and compare the volatility dynamics of stock markets in four Asian emerging economies: Indonesia, India, Malaysia, and Thailand. The research employs a quantitative approach using daily stock index data from January 2011 to January 2026 obtained from Yahoo Finance. Stock returns are calculated using logarithmic transformation and analyzed using the Generalized Autoregressive Conditional Heteroskedasticity (GARCH(1,1)) model. Prior to model estimation, stationarity and ARCH effect tests are conducted to ensure the validity of volatility modeling. The empirical findings indicate that all return series exhibit non-normal distribution, strong volatility clustering, and significant ARCH effects. The estimation results show that both ARCH and GARCH parameters are statistically significant, with persistence levels close to unity across all markets, implying that volatility shocks tend to persist over a long period. These findings suggest that emerging stock markets in Asia are highly sensitive to external shocks and exhibit long-memory volatility behavior. The results provide important implications for investors and policymakers in designing effective risk management and market stabilization strategies.

The Indonesian capital market has become a vital pillar of the national economy, providing opportunities for companies to obtain funding while simultaneously providing an investment vehicle for the wider community. In this context, stocks are the most sought-after instrument due to the potential returns they offer. However, stock investment is constantly faced with uncertainty, with fluctuating stock prices often presenting challenges for investors, especially those without a thorough understanding of the company's fundamental performance. An interesting phenomenon, the starting point of this research, is the quite extreme price movements of BIPI shares over the past decade. From 2015 to 2021, BIPI's share price remained stagnant at Rp 50 per share, a condition often referred to by market participants as "gocap" (goat capit). This condition reflects low investor interest in the company's shares, possibly due to high risk perceptions or unconvincing fundamental performance.

The purpose of this study is to analyze and evaluate the effectiveness of digital marketing strategies implemented by Micro, Small, and Medium Enterprises (MSMEs), particularly those engaged in the culinary sector, within the Pasar Raya MMTC (Medan Metropolitan Trade Center) area in facing digital era competition. The research method employed is descriptive qualitative with a case study approach. Data collection involved in-depth interviews with MSME owners, observation of digital promotional activities (Social Media and Marketplaces), and content analysis. The results indicate that the most effective and commonly used digital strategies include: (1) Marketplace Optimization (focusing on discount and flash sale features), (2) Social Media Marketing Utilization (Instagram and TikTok for visual/video content), and (3) Collaboration with Local Micro-Influencers or food vloggers. The effectiveness of these strategies is measured by the increase in sales volume (an average of 20-30% after digital adoption) and improved brand visibility. The main obstacles encountered by MMTC MSMEs are the lack of consistency in content creation, limited funds for paid advertising, and insufficient understanding of digital data analytics. This study concludes that digital adaptation is essential, but it must be supported by improving digital literacy and providing targeted assistance focused on analyzing the return on investment (ROI) of digital marketing activities for sustainable growth.

Heart failure is a clinical syndrome characterized by shortness of breath and fatigue resulting from structural or functional abnormalities of the heart.  Acute Decompensated Heart Failure (ADHF), also known as decompensated heart failure, is a condition of worsening chronic heart failure that can occur acutely, subacutely, or insidiously, with symptoms progressively worsening over several days or weeks. A 1-year-old male patient presented to the Dermatology Clinic at Cut Meutia General Hospital with the chief complaint of A 60-year-old female patient was brought to the Cut Meutia Emergency Department with the complaint of shortness of breath that had worsened 1 day prior to admission; the shortness of breath worsened during light activity and when the patient was lying down. She also complained of swelling in both legs for one week prior to admission, which had progressively worsened. On examination, skin turgor was slow to return in the left and right lower extremities; palpation of the neck revealed jugular vein distension. Inspection showed a normal chest contour; auscultation of the lungs revealed rhonchi. Cardiac percussion revealed enlargement of the upper, left, and right borders of the heart, as well as the cardiac border at the level of the waist. Auscultation revealed a murmur at the fourth intercostal space on the left side. Examination of the lower extremities revealed pitting edema on both the left and right sides.  Supportive X-ray examination revealed severe cardiomegaly. An ECG revealed sinus rhythm, an irregular rate of 80 beats per minute, LAD axis, P wave not identifiable, PR interval 0.20 seconds, QRS complex 0.6 seconds, inverted T waves in I and AVL, LVH (+), RVH (-), PVCs, AF, and lateral ischemia. Echocardiography revealed severe aortic stenosis due to RHD and an LVEF of 21%. The patient has been prescribed furosemide, warfarin, bisoprolol, and spironolactone.

This study aims to examine the effect of Return on Assets (ROA), Debt to Equity Ratio (DER), and e-IPO regulation on the level of IPO underpricing on the Indonesia Stock Exchange during the 2021–2025 period. The research employs a causal quantitative approach using multiple linear regression analysis. Secondary data were collected from the prospectuses and financial statements of companies conducting Initial Public Offerings (IPOs).The results indicate that ROA does not have a significant effect on underpricing (significance value = 0.181). Similarly, DER is found to have no significant influence on underpricing (significance value = 0.268). The simultaneous test also shows a non-significant result, with an F-significance value of 0.120, suggesting that the independent variables collectively do not affect IPO underpricing. Furthermore, the coefficient of determination (R²) of 0.175 implies that only 17.5% of the variation in underpricing can be explained by the variables included in the model, while the remaining 82.5% is attributable to other factors outside the study, such as market sentiment, underwriter reputation, and oversubscription levels. These findings suggest that investors in the Indonesian IPO market tend to prioritize short-term capital gain opportunities rather than relying on firms’ financial fundamentals. Consequently, accounting-based indicators are not sufficiently influential in shaping stock prices during the first day of trading.

This study aims to analyze the management of Ikhwanul Ikhlas Wisata Travel in Medan in terms of pilgrim recruitment processes, manasik guidance patterns, assistance systems in the Holy Land, as well as indicators and evaluation of customer satisfaction. The background of this study is based on the increasing competition among Umrah travel agencies, which requires professional, transparent, and customer-oriented services to build trust and loyalty. In this context, Ikhwanul Ikhlas Wisata becomes an interesting case due to its consistency in guiding pilgrims from the initial stage to post-return.This research employs a qualitative approach with a descriptive method. Data were collected through in-depth interviews with three key informants representing management, the company director, and marketing personnel. Data analysis was conducted through data reduction, data display, and conclusion drawing to obtain a comprehensive understanding of Umrah travel management practices.The findings reveal that Ikhwanul Ikhlas Wisata implements a recruitment system that emphasizes transparency in package information, costs, facilities, and departure schedules. Manasik guidance is conducted through both theoretical and practical sessions on a regular basis and supported by competent tour leaders and mutawwif. Customer satisfaction is measured through indicators such as repeat participation, recommendations to family or relatives, and post-return testimonials. The evaluation of satisfaction is utilized as a foundation for continuous improvement in recruitment strategies, guidance patterns, and service quality.

This study aims to determine and analyze the effect of the Current Ratio (CR) on Return on Equity (ROE) at PT Kino Indonesia Tbk for the period 2015–2025. This research employs a quantitative approach with an associative research design. The data used are secondary data obtained from the company's annual financial statements. The data analysis techniques include classical assumption tests, simple linear regression analysis, partial t-test, and coefficient of determination (R²). The results show that the Current Ratio has a negative and significant effect on Return on Equity. This is indicated by a regression coefficient value of -0.489 and a significance value of 0.001 (< 0.05). In addition, the coefficient of determination (R Square) is 0.734, which means that 73.4% of the variation in Return on Equity can be explained by the Current Ratio, while the remaining 26.6% is influenced by other factors outside this study. These findings indicate that excessively high liquidity tends to reduce the company’s profitability, suggesting inefficient management of current assets. Therefore, companies need to maintain a balance between liquidity and profitability to improve overall financial performance