Publication Search

This study examines the influence of leverage, profitability, and capital structure on earnings management in consumer non-cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the period 2019–2023. Earnings management has become a central issue in financial reporting, as it reflects managerial discretion in presenting financial information that may not fully align with the company’s actual economic condition. Understanding the determinants of earnings management is therefore essential to enhance transparency, credibility, and stakeholder trust in corporate financial reports. The research employed a quantitative approach using multiple linear regression analysis, with data processed through SPSS version 25. The sample consisted of 104 company-year observations, which were selected using purposive sampling techniques and subsequently refined through outlier testing to ensure data validity and reliability. The independent variables analyzed were leverage, profitability, and capital structure, while earnings management served as the dependent variable. The empirical findings demonstrate that leverage and profitability exert a significant influence on earnings management practices. Specifically, companies with higher leverage tend to engage in earnings management as a mechanism to meet financial obligations and reduce the risk of violating debt covenants. Similarly, higher profitability motivates managers to manipulate earnings in order to sustain investor confidence and maintain a favorable corporate image. In contrast, capital structure is found to have no significant effect on earnings management, indicating that financing decisions between debt and equity may not directly influence managerial behavior in financial reporting. These results highlight the importance of monitoring leverage and profitability indicators as potential predictors of earnings management. For corporate management, the findings suggest the need to implement stronger internal control systems and uphold ethical financial practices. For investors and regulators, the study provides useful insights into assessing company performance beyond reported earnings, thereby supporting more informed decision-making and promoting the integrity of capital markets.

The era of technological disruption, driven by the economic logic of "surveillance capitalism," has created a fragmenting digital architecture. The "filter bubble" or "echo chambers" mechanism algorithmically isolates individuals, exacerbated by a psychological condition of being "alone together" wherein individuals actively engage in a "flight from conversation." This convergence of algorithmic and psychological isolation has fueled an "age of outrage" and extreme social polarization. This crisis is fundamentally theological, as it reduces the dignity of the Imago Dei (image of God) to mere exploitable computational data. This research employs a qualitative library study method with a critical-analytical approach to analyze this phenomenon and propose a reconstruction of Christian leadership theology. This article argues that Christian leaders must develop a new theological competency termed "Digital Wisdom." This wisdom is rooted in a holistic theology that resists dualistic fragmentation. This reconstruction is embodied in the leader's role as spiritual (placing the Word of God as authority over algorithms), educational (building digital ethics and combating disinformation), integrity-based (rejecting partisan outrage), and humanistic (reaffirming the primacy of physical encounter and authentic relationship).

This research explores how several monetary policy and commodities market influence the movement of the Indonesia Composite Index (IHSG). Monetary policy is a set of actions taken by the central bank to regulate the currency and the economy, variable proxy is Rupiah Exchange Rate (Jisdor) and Indonesia Overnight Index Average (indONIA). Commodity markets are places where commodities are traded in physical or futures, the needs of the world still depend on certain commodities so that commodity prices can be related to economic conditions, variable proxy of comodities market is Gold, Crude Oil WTI, Coal Newcastle. Indonesia Composite Index is a index that reflects the price movements of all stocks listed on the Indonesia Stock Exchange. The study analyzes monthly data from January 2019 to December 2023, a period before the global disruption of the COVID-19 pandemic, the period during the pandemic and the gradual economic rebound that followed. Using multiple linear regression analysis, the study assesses the direction and statistical relevance of each variable’s effect on the Indonesia Composite Index. The results suggest that Indonesia Overnight Index Average and Crude Oil WTI prices have a significant positive impact on the index, the Rupiah Exchange Rate has a significant negative impact on the index, while Gold and Coal Newcastle have no significant impact on the index. These findings can serve as a useful reference for both investors and policymakers in understanding and anticipating movements in Indonesia’s capital market, especially in relation to monetary policy and global commodity trends.

Women entrepreneurship in Micro, Small, and Medium Enterprises (MSMEs) plays a vital role in the local economy. However, women entrepreneurs often face complex emotional and psychological challenges due to their dual roles as housewives and entrepreneurs. Market uncertainty, social pressure, and lack of support from their environment further burden their workload. This study aims to explore the subjective experiences of women micro MSMEs, particularly in dealing with the psychological pressures of carrying out these roles. The research method used is a qualitative phenomenological approach with seven informants from the culinary, handicraft, and online trading sectors. Data were collected through semi-structured interviews and non-participant observation, then analyzed using a thematic approach based on the Miles & Huberman model. The results of the study revealed four main themes: (1) the pressure of dual roles that often trigger stress and emotional exhaustion (burnout), (2) chronic anxiety related to fear of business failure and income instability, (3) spirituality and religious activities as meaning-based coping mechanisms, and (4) the importance of social support from partners, family, and community as a balance of emotional conditions. These findings confirm that the success and sustainability of women's businesses depend not only on economic capital or technical skills, but are also significantly influenced by mental health and the strength of social networks. Therefore, empowerment programs for women's MSMEs need to be designed holistically, encompassing psychosocial aspects, coping strategy training, and strengthening supportive and inclusive social networks.

This study aims to map the strengths, weaknesses, opportunities, and threats (SWOT) of each village within Awangpone Subdistrict to formulate a strategic model for enhancing the local economy in alignment with the Sustainable Development Goals (SDGs) 2030. Employing a qualitative field research design, the study integrates interdisciplinary, theological, and development economics approaches. Data were collected through questionnaires, interviews, direct observation, and documentation. The analysis follows Miles and Huberman’s interactive model, encompassing data reduction, data display, and conclusion drawing. The SWOT analysis reveals that the coordinates fall within Quadrant I, indicating that strengths outweigh weaknesses and opportunities surpass threats. Accordingly, the recommended strategy is the Strength-Opportunity (S-O) approach, which emphasizes leveraging internal strengths to capitalize on external opportunities. This strategy is deemed most effective for stimulating local economic growth and accelerating SDG achievement. Internal constraints identified include underutilized tourism potential and limited access to sharia-compliant financing mechanisms. External threats comprise weak partnership collaborations and limited foreign investment engagement. While several SDG targets—such as education and community participation—have shown promising progress, others remain underdeveloped, particularly in infrastructure development and equitable access to justice for rural populations. The findings underscore the importance of context-sensitive, multi-sectoral strategies that integrate local wisdom, theological values, and economic principles. The proposed strategic model offers a practical roadmap for village-level economic empowerment, contributing to inclusive and sustainable development. This research provides actionable insights for policymakers, development practitioners, and local stakeholders seeking to optimize village potential and foster resilience in rural economies.

This literature study examines the construction of cultural identity through socio-economic practices in plantation ecosystems among the Acehnese, Malay, and Chinese communities in Indonesia. Using a systematic literature review of 42 selected sources (1990-2023), the research reveals that plantations function as sites of identity negotiation—dynamic arenas of cultural adaptation and resistance. In Aceh, the integration of Islamic values (zakat [alms] from plantations, meunasah education) and local wisdom (peusijuek rituals) mediates post-conflict reconciliation and identity transformation from "combatants" to "farmers" (Muchlis et al., 2023; Aulia et al., 2024). For the Malay community, the customary-territorial concept of bela kampung (communal defense) underpins resistance to authority fragmentation through gotong royong (mutual cooperation) and communal land allocation (Yunanda et al., 2024; Nasution et al., 2024). Meanwhile, the Chinese community develops invisibility strategies (e.g., land acquisition via family foundations, citizenship aliases) to convert legal marginalization into clan-based social capital (Irawan, 2016; Thung, 2018). Key findings highlight divergent identity sources: religiosity (Aceh), customary-territoriality (Malay), and clan social capital (Chinese). The study recommends integrating local wisdom into inclusive plantation policies and employing ethnographic approaches to examine identity intersectionality complexity.

This study aims to explain the strength of social capital owned by Nurdin in political contestation in 2016. This type of research is a descriptive qualitative study to explore the strength of social capital in the transformation of village head leadership. Meanwhile, the approach used is the phenomenological approach The results of this study indicate that the previous leadership style that the author limits only captures the leadership style for the period 2002-2009. During the 2002-2004 period, when Karaeng Oddang was in charge, in his leadership he tried to be more democratic, but the domination of his father (Karaeng Manna) was still strong at that time. Likewise with Aji Awaluddin 's karaeng leadership style, he was a typical leader who was considered by the community to be very good and realized democratic values ​​during his tenure as head of Kindang village for the 2004-2009 period. In 2009-2016, this was where leadership transformation took place. Photographing Nurdin's leadership style for the period of 2009 cannot be separated from appreciation and praise. However, this criticism did not have an impact on the 2016 village head election. Nurdin won the pilkades again.  Nurdin's strength of social capital in the election has won him victory. The rise of primordial sentiment among ordinary people (tumaradeka) as Nurdin's strength, and on the other hand the rise of negative stereotypes against karaeng that spread to the issue of group identity and the strong strength of social networking capital, bonding, bridging and linking greatly colored the 2016 pilakdes. Social capital security control is a selling point for Nurdin so that he can get support from the community compared to other candidates who are deemed unfit and unable to anticipate security in Kindang village.

This study delves into the philosophical and theological core of the concept of ownership in Islamic economics, a paradigm fundamentally distinct from capitalism and socialism. We uncover the essence of ownership as a divine trust, categorized into individual, public, and state domains. Our findings demonstrate how each type of ownership is governed by clear boundaries and rights, tightly integrated with social responsibility to achieve universal well-being and distributive justice. This study also examines the dynamic harmonization between private and public ownership, achieved through vital instruments like zakat, infaq, sadaqah, and productive waqf, as well as the crucial role of government in providing public goods. Despite facing significant challenges such as the dominance of the global capitalist economy and low sharia literacy, we highlight digitalization as a strategic opportunity to boost the efficiency, transparency, and inclusion of sharia finance. This opportunity holds substantial potential to strengthen the harmonization of ownership within the broader Islamic economic ecosystem. In short, a deep understanding of this Islamic concept of ownership is key to formulating more just and balanced economic policies and community development in today's rapidly evolving modern era.

The Micro, Small, and Medium Enterprises (MSMEs) sector plays a crucial role in economic development by helping to reduce inequality resulting from uneven development processes. This study aims to analyze the simultaneous and partial effects of capital, price, working hours, facilities, and promotion on income, as well as to examine the moderating role of promotion on the effect of price on the income of coffee shop MSMEs in Denpasar City. The sample consisted of 85 coffee shop MSMEs selected using simple random sampling. The data analysis technique employed was moderated regression analysis (MRA). The results show that simultaneously, capital, price, working hours, facilities, and promotion significantly affect the income of coffee shop MSMEs in Denpasar. Partially, each of these variables—capital, price, working hours, facilities, and promotion—has a significant positive influence on income. Coffee shops equipped with complete facilities tend to earn higher income compared to those with fewer amenities. The findings also reveal that coffee shops utilizing promotional strategies generate higher income than those that do not. It is recommended that coffee shop MSME operators focus on long-term promotional strategies to build customer loyalty and increase income.

There is a large correlation between its economic development and a country’s capital market. The capital market connects individuals with potential investments and helps businesses obtain the necessary financing. The way investors view a company’s growth potential is reflected in its stock valuation. Stock price fluctuations are influenced by several factors, including effective Good Corporate Governance (GCG), capital structure, and financial performance. By examining the impact of GCG, financial performance, and capital structure, this study aims to provide clearer guidelines on how companies in the financial sector of the IDX can influence stock prices from 2020 to 2024. The quantitative method used is multiple linear regression analysis. The study found that stock values ​​were significantly influenced by these three factors, both separately and when combined. These three variables explain a quarter of the variance in stock prices (measured by the Adjusted R² value of 0.256), while the remaining variation is due to variables outside this study. Whether you are an investor or a business leader, these findings can help you make better financial and governance choices and will pave the way for further research.

This community service aims to foster and develop an entrepreneurial spirit among teenagers in Sanrobone Village, Takalar, through the optimization of Micro, Small, and Medium Enterprises (MSMEs) based on local potential. Teenagers are identified as strategic assets that need to be empowered for economic independence and job creation. The method of implementing this activity adopts a participatory and educational-practical approach, including the preparation stage, implementation of training and mentoring, and monitoring and evaluation. A total of 35 teenagers from Sanrobone Village were actively involved in a series of basic entrepreneurship training, identification of local business opportunities, technical production skills workshops, and simple digital marketing. The results of the activity showed a significant increase in teenagers' understanding of the concept of entrepreneurship from just selling to creating value. They succeeded in identifying 15 potential business ideas from local resources and 20 teenagers were able to produce product prototypes from these ideas. In addition, the initiative to form five micro-business groups initiated by teenagers is clear evidence of the growth of motivation and collaboration. In conclusion, this program is effective in laying a strong foundation for the development of a youth entrepreneurship ecosystem in Sanrobone Village, which is supported by the potential of natural resources and the enthusiasm of the participants. It is recommended that there be ongoing mentoring, facilitation of access to micro-capital, strengthening of networks, and integration of entrepreneurship curriculum in schools to ensure the sustainability and long-term impact of the program.

The role of Islamic banks in distributing funds to MSMEs in Cikarang is crucial for strengthening the local economy. By offering financing products based on Sharia principles such as murabahah, musharakah, and mudharabah, Islamic banks provide capital solutions for MSMEs while upholding the principles of justice and risk-sharing. A qualitative review of the literature indicates that the involvement of Islamic banks can enhance access to capital, improve business productivity, and foster long-term relationships between banks and entrepreneurs. The main issues identified include a lack of understanding of Sharia principles among MSMEs and credit-related risks. The recommendations from this study include increasing Sharia education, simplifying contractual procedures, and strengthening the role of supporting institutions.

This study aims to analyze the financial performance of PT Mayora Indah Tbk using the Du Pont System approach. This method decomposes Return on Equity (ROE) into three main components: Net Profit Margin (NPM), Total Asset Turnover (TATO), and Equity Multiplier (EM). The research employs secondary data from the company’s 2023 and 2024 financial statements. The findings reveal that despite an increase in net sales, the company experienced a decline in net profit, asset efficiency, and ROE. ROE decreased from 21.29% in 2023 to 17.84% in 2024, influenced by a reduction in NPM and TATO, along with a rise in EM. This decline indicates pressures on profitability and asset efficiency. Therefore, the company should enhance operational efficiency and manage its capital structure effectively to sustain optimal financial performance.

This article examines various factors that determine the success and competitiveness of cooperatives in Indonesia from the perspective of economic management education. The analysis draws upon recent empirical studies, theoretical reviews, and case-based comparisons published in the past five years. Findings reveal that institutional governance, member participation, digital innovation, cooperative education, and capital structure are key determinants of cooperative performance. Educational efforts in management, especially in vocational and community-based settings, significantly influence the sustainability and competitiveness of cooperatives in the modern economy.

This study aims to analyze the factors that influence the income of female traders in the informal sector, specifically at Amlapura Timur Market, Karangasem Regency. The research employs a quantitative associative method using multiple linear regression analysis to examine the effects of age, working hours, capital, business location, and transportation costs on the income of female traders. Data were collected from 93 respondents using purposive sampling. The results show that age, working hours, capital, business location, and transportation costs simultaneously have a significant effect on the income of female traders. Partially, age has a negative effect on income, while working hours, capital, business location, and transportation costs have positive effects. This study provides insights into the challenges and opportunities faced by female traders in traditional markets and offers recommendations for gender- and location-based economic empowerment strategies.  

This study aims to identify the leading economic sectors in East Kalimantan Province and analyze their influence on the development of the National Capital of the Archipelago (IKN) as an economic superhub. Using secondary data from 2019–2023, the analysis applies Location Quotient (LQ), Dynamic LQ (DLQ), Shift-Share, and SWOT methods to evaluate the regional economy. Results show that the mining and quarrying sector remains dominant, while agriculture and processing industries demonstrate stable potential for sustainable growth. The study also highlights the urgency of economic diversification, human capital development, and renewable energy as strategic steps to reduce dependence on extractive sectors. The formation of a collaborative blueprint between regional governments, businesses, and communities with the IKN Authority is proposed to strengthen connectivity and economic integration. This research provides critical insights for policy formulation to support East Kalimantan’s transformation as a central player in national development.

This study is motivated by the ongoing debate regarding the application of the death penalty to perpetrators of corruption in Indonesia, particularly in relation to the protection of human rights as stipulated in Law Number 39 of 1999. The purpose of this research is to explain the extent to which the death penalty can be appropriately and proportionally applied to corruptors while considering human rights principles. This study employs a normative legal approach focused on the analysis of statutory regulations and relevant legal literature. The data is analyzed using a qualitative juridical method, emphasizing a normative review of applicable positive law. The findings reveal a discrepancy between the imposition of the death penalty for corruption crimes and the right to life guaranteed by Indonesia’s human rights legal instruments. The implication of this research highlights the need to reconsider the policy of capital punishment for corrupt practices to ensure alignment with the principles of justice, humanity, and respect for human rights within the national legal system.  

The distribution of sugarcane from farmers to sugar mills in Indonesia continues to face various challenges, particularly in terms of logistical efficiency and farmers’ dependency on intermediaries. This study aims to analyze the role of intermediaries in determining the efficiency of sugarcane distribution, using a case study in Kedungmakam Village, Tuban Regency. A qualitative approach with a case study design was employed, enabling an in-depth understanding of distribution practices directly in the field. Data were collected through field observations, in-depth interviews with farmers, intermediaries, and retail traders, as well as supporting documentation. The results indicate that intermediaries play a crucial role in providing production capital, scheduling harvests, and managing transportation of sugarcane to the mills. However, their dominance, in the absence of formal contracts, creates relationship imbalances and weakens the bargaining position of farmers. Furthermore, geographical barriers, limited access to market information, and the lack of independent distribution infrastructure exacerbate inefficiencies and reduce fairness in the existing distribution system. Therefore, strengthening farmer institutions, improving contract transparency, and enhancing access to logistics and information are recommended as long-term solutions.

Plantation agriculture encompasses all activities involving the cultivation of specific crops and the commercialization of their products and services, supported by science, technology, capital, and management, with the aim of improving the welfare of plantation business actors and the wider community. This study aims to analyze the production scale, input elasticity, and factors affecting clove production in Umejero Village, Busungbiu District, Buleleng Regency. Given the high dependence of farmers on harvest outcomes and price fluctuations, this analysis is essential to understand the impact of economic and agronomic variables such as working capital, labor, land area, and selling price on production output. The study employs a quantitative method using multiple linear regression based on the Cobb-Douglas production function. Data were collected through questionnaires and interviews with clove farmers in Umejero Village using purposive sampling. The results indicate that all four variables simultaneously have a significant effect on clove production, with each variable also having a partial positive influence. The analysis of production scale shows increasing returns to scale, meaning that a proportional increase in all input factors leads to a more than proportional increase in output. The elasticity analysis indicates that capital input is elastic, suggesting that a small increase in capital leads to a disproportionately large increase in output. In contrast, labor, land area, and selling price are inelastic, implying that increases in these inputs result in only modest increases in output. These findings highlight the need for solid policy foundations and strategic initiatives to enhance clove productivity both at the farmer and local government levels. Furthermore, the study’s results are expected to assist farmers in making more informed and sustainable decisions in farm management, ultimately contributing to the improved welfare of clove-farming communities in the region.  

Risk control mechanisms in murabahah and mudharabah financing are implemented to anticipate potential risks arising from the customer's position. The objective is to uphold sharia principles while ensuring that the mitigation efforts by Sharia Rural Financing Banks (BPRS) provide advantages for both the bank and the wider community, particularly the customers. This qualitative case study investigates BPRS Madina in Yogyakarta. The findings reveal that BPRS Madina adopts several approaches to mitigate risks in murabahah and mudharabah financing. First, it verifies the completeness of financing documents using available data sources. Second, it checks for any history of problematic financing by the customer. Third, when necessary, the bank conducts restructuring to minimize risk. Additionally, BPRS Madina carries out risk control measures based on DSN MUI Fatwa No. 04/DSN-MUI/IV/2000 on Murabahah Financing and No. 07/DSN-MUI/IV/2000 on Mudharabah. While Islamic financial institutions do not inherently require guarantees in financing, they are permitted to request collateral to prevent losses. This collateral is not intended to ensure full compliance with the contract terms but rather to safeguard the return of the capital provided. Lastly, the risk management strategies employed by BPRS Madina for murabahah and mudharabah financing are deemed effective, as less than 1% of customers currently encounter issues, and operational risks remain well-managed.