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One of the most actively traded and liquid stock groups in the capital market is the LQ45 index, which consistently attracts investor attention due to its strong market capitalization and transaction volume. This study aims to analyze the influence of financial performance and financial management strategies on firm value among companies listed in the LQ45 index on the Indonesia Stock Exchange during the 2018–2022 period. The study population consisted of 73 LQ45-indexed companies, with purposive sampling used to select 23 companies that met the research criteria. This research employed a quantitative approach using path analysis to examine both direct and indirect relationships among variables. The findings indicate that profitability and leverage have a positive and significant effect on firm value. In addition, profitability and leverage also positively influence firm size, indicating that companies with stronger profitability and effective debt management tend to expand their operational scale. However, firm size does not significantly affect firm value and is unable to mediate the relationship between profitability, leverage, and firm value. These results suggest that investors place greater emphasis on profitability and leverage indicators than company size when evaluating firm value in LQ45 companies. Therefore, effective financial performance remains the primary factor in enhancing corporate value and investor confidence.

The development of digital technology has encouraged micro, small, and medium enterprises (MSMEs), particularly in the culinary sector, to adapt by utilizing online applications as a strategy to increase competitiveness. This community service activity aims to improve the understanding and capabilities of business owners at Kedai Jajanan Zahira in Surabaya in utilizing online applications as a marketing and sales tool. The method used in this study is Participatory Action Research (PAR), an approach that actively involves business actors in every stage of the process. These stages include problem identification, planning, implementation, and evaluation. Data collection techniques were carried out through interviews and direct observation to obtain a realistic picture of business conditions. The results of the activity showed an increase in business owners' understanding of the importance of digitalization, improved skills in using food delivery applications and social media, and increased market reach and interaction with consumers. In addition, the use of online applications also contributed to increased operational efficiency, such as more systematic order management and transaction recording. Overall, mentoring in the use of online applications has proven effective in increasing the competitiveness of culinary businesses. This activity has a positive impact not only on increasing sales, but also on business sustainability through increased digital literacy and the ability to adapt to technological developments. Therefore, ongoing mentoring is needed so that business actors can consistently optimize the use of digital technology in developing their businesses.

The phenomenon of cyberbullying and the spread of hoaxes among students has posed a significant threat to the ethics of the younger generation. Consequently, the education sector must take prudent action. The purpose of this study is to examine how the integration of digital ethics into the Islamic Religious Education (PAI) curriculum serves as an effort to prevent and address online behavioral violations. This research was conducted qualitatively using a desk study. Data were collected through documentary research of educational literature, Islamic moral values, and curriculum policies. In this analysis, a content analysis method was used to examine how Islamic concepts relate to the ethics of modern digital communication. The research indicates that the current PAI curriculum requires strengthening digital transaction materials through internalizing the principles of tabayyun (religious conduct) to combat hoaxes and the principles of akhlaqul karimah (good character) to reduce cyberbullying. PAI should not be limited to theoretical literature; instead, it should develop into a practical guide that helps people improve their digital lives. To create a safe and secure internet environment, the PAI curriculum must be aligned with critical digital literacy and the strengthening of religious character. It is hoped that this integration will provide students with a strong spiritual foundation to face the challenges of future technological disruption.

This research is motivated by the increasing use of TikTok Shop as a social commerce platform that makes it easier for consumers to make purchases through interactive features and various price promotion strategies. This study aims to analyze the influence of ease of use and price perception on purchase decisions on TikTok Shop. The population in this study is students of the Management Study Program of the University of Muhammadiyah Makassar class of 2022–2025, with a sample of 95 respondents determined using the Slovin technique. The analysis method used is multiple linear regression supported by validity, reliability, and classical assumption tests. The results of the study show that ease of use and partial price perception have a positive and significant influence on purchase decisions on TikTok Shop. High ease of use can increase consumer convenience in transactions, while good price perception encourages consumers to make purchase decisions. The implications of this study show the importance of improving the quality of the system and pricing strategies in supporting consumer purchase decisions on social commerce platforms

This study aims to examine the effect of the use of the Quick Response Code Indonesian Standard (QRIS) as part of digital payment instruments on the personal financial management of employees at PT. Alkana Diza Nusantara in the era of a cashless society. The rapid development of financial technology has encouraged a shift in transaction behavior from cash to cashless systems, making it important to understand its impact on individual financial management more comprehensively. This study employs a quantitative approach with a causal associative research design to analyze the relationship between variables. The population consists of 42 employees, with total sampling used as the sampling technique. Data were collected through a Likert-scale questionnaire that had been tested for validity and reliability. Data analysis techniques include classical assumption tests, simple linear regression analysis, t-test, and the coefficient of determination (R²) to measure the extent of the independent variable’s influence on the dependent variable. The results show that the use of QRIS has a positive and significant effect on personal financial management. This is evidenced by a regression coefficient of 0.923 and a significance value of 0.000 (<0.05). Furthermore, the coefficient of determination (R²) of 0.735 indicates that QRIS usage explains 73.5% of the variation in personal financial management, while the remaining 26.5% is influenced by other variables outside the scope of this study. These findings suggest that digital payment usage can enhance the effectiveness, efficiency, and discipline of individual financial management

This study aims to analyze the impact of middlemen on the price of Fresh Fruit Bunches (FFB) of oil palm received by farmers in Lambur I Village, Tanjung Jabung Timur Regency, from a sharia economic perspective. This study also examines the FFB marketing patterns carried out by farmers and the factors that influence farmers in choosing where to sell their harvest. The method used is a qualitative approach with a case study research type. Data were obtained through in-depth interviews, field observations, and documentation to understand FFB marketing practices and the socio-economic relationships between farmers and middlemen. The results show that FFB marketing in Lambur I Village is carried out through three main channels: middlemen, the Marketing Chain of Trust (RAM), and palm oil processing factories. Most farmers choose to sell FFB to middlemen because the transaction process is easier, payments are fast, and transportation costs are not required. In addition, urgent financial needs, limited transportation facilities, and long-standing socio-economic relationships also influence farmers' dependence on middlemen. In practice, middlemen play a dominant role in determining prices, deducting approximately Rp 250–Rp 300 per kilogram from the factory price. From a sharia economic perspective, marketing practices through middlemen are essentially permissible as long as they are carried out with mutual consent and do not contain elements of usury, gharar, or injustice. However, the dominance of middlemen in determining prices indicates a bargaining imbalance that could potentially harm farmers, thus not fully reflecting the principle of justice in sharia economics

Technological advancements and the rapid growth of globalization have fundamentally changed the way organizations conduct business activities, creating increasingly complex challenges and opportunities in both local and international markets. Organizations are now required to adapt quickly to changing consumer preferences, technological innovation, market competition, and economic uncertainty. In this environment, economics, management, and accounting have become three essential disciplines that play a crucial role in determining organizational effectiveness and long-term sustainability. Economics helps organizations understand market behavior, pricing strategies, supply and demand conditions, and macroeconomic factors that influence business performance. Management focuses on planning, organizing, leading, and controlling resources to ensure operational efficiency and goal achievement. Accounting provides reliable financial information through systematic recording, reporting, and analysis of transactions, enabling organizations to evaluate performance and maintain accountability. This study aims to analyze the relationship between these three disciplines in supporting organizational decision-making processes and improving overall performance. The research employs a literature review method by examining various recent academic books and journal articles. The findings reveal that the integration of economics, management, and accounting strengthens strategic planning, improves resource allocation, enhances financial transparency, and supports sustainable organizational growth in a highly competitive global environment.

This study examines the regulation of abuse of circumstances in sales agreements through a comparative study between Indonesian and Dutch civil law. Abuse of circumstances is a legal doctrine that protects the weaker party in contracts where there is an imbalance of power and pressure, resulting in a lack of free will from one party. The research aims to understand the concept and analyze the legal consequences in both legal systems. This normative study employs statutory, conceptual, and analytical approaches through literature review and case law analysis. Findings reveal that in Indonesia, abuse of circumstances is not explicitly regulated in the Civil Code and relies on case law and judicial interpretation, whereas in the Netherlands, it is clearly codified in Article 3:44 of the Nieuw Burgerlijk Wetboek (NBW) providing greater legal certainty. The legal consequence in both countries is the annulment of contracts formed under such circumstances and entitlement to compensation for the harmed party. The primary difference lies in codification and consistency of application. This study recommends that Indonesia adopt explicit regulation similar to the Dutch model to enhance legal protection and fairness in sales transactions.

This study aims to analyze the implementation of mudarabah and murabahah contracts at the Baitut Tamwil Muhammadiyah (BTM) Al-Kautsar Islamic Cooperative in Makassar and to assess their compliance with Islamic principles and the Islamic Financial Accounting Standards (PSAK Syariah). The research employed a qualitative descriptive approach using in-depth interviews, observation, and documentation. The findings reveal that BTM Al-Kautsar has implemented mudarabah and murabahah contracts in accordance with Islamic principles, as evidenced by valid contract agreements, agreed profit-sharing ratios, and manual transaction recording. The mudarabah contract is applied for profit-sharing financing, while murabahah is more dominant due to its lower risk and stable returns. However, the application of PSAK Syariah remains suboptimal due to limited human resources, the absence of a Sharia supervisory board, and minimal digital accounting systems. These findings suggest the need to enhance Sharia literacy, strengthen internal supervision, and modernize accounting systems to support accountable and sustainable Islamic cooperative governance

Digital technology has, in many ways, altered the manner in which businesses function. This transformation touches on aspects like how products are developed, delivered, and sold. It opens up a range of possibilities for business owners to broaden their markets, boost profits, and make better use of online tools. At the same time, however, the digital age introduces certain difficulties. These include increased competition as well as risks related to practices that may conflict with sharia law—for example, charging interest, engaging in transactions with unclear risks, or producing counterfeit goods. The focus of this study is to examine the opportunities and challenges that businesses encounter in today’s digital world, viewed through an Islamic lens. The approach taken involves a review of existing literature, drawing from various sources dealing with digital commerce and Islamic economic principles. The results suggest that digital business ventures hold considerable promise, provided they are conducted with honesty, fairness, and transparency, while avoiding activities disallowed by sharia. This way, entrepreneurs can not only generate income but also develop their enterprises in a way that aligns with ethical and religious values.

Global economic uncertainty and exchange rate fluctuations pose significant challenges to monetary stability in Indonesia, particularly in maintaining a controlled inflation rate. This study aims to analyze the transmission mechanism of the rupiah exchange rate to the inflation rate in Indonesia from 2015 to 2024. The method used in this study is library research by collecting, reviewing, and synthesizing data from various scientific literature, official central bank reports, and related journal articles published over the past decade. The research findings indicate that rupiah depreciation has a significant influence on rising inflation through the imported inflation channel, where currency depreciation increases the cost of raw materials for industries dependent on foreign markets. Furthermore, the findings reveal that the effectiveness of this transmission is influenced by public expectations and monetary policy taken by Bank Indonesia through adjustments to the benchmark interest rate. The implications of this study emphasize the importance of synergy between a stable exchange rate policy and controlling the supply of domestic goods to minimize the impact of external shocks on public purchasing power. The government and monetary authorities are advised to continue strengthening foreign exchange reserves and encouraging the use of local currencies in international transactions to reduce dependence on the United States dollar and maintain national price stability.

The rapid development of communication technology has spurred public demand for smartphones, particularly iPhones, seen as a symbol of prestige and advanced technology. This high demand has been exploited by unscrupulous business actors who distribute parallel import (black market) iPhones that are not officially registered, posing risks to consumers. This study examines the legal protection procedures for consumers, the legal standing of consumers in black market iPhone transactions, and the liability of business actors under Law Number 8 of 1999 concerning Consumer Protection (UUPK). Using a normative legal research method, the study employs statutory and conceptual approaches, analyzing primary, secondary, and tertiary sources. The findings indicate that consumer protection can be achieved through preventive measures such as public education and information transparency, and repressive measures via dispute resolution mechanisms, both in court and through the Consumer Dispute Settlement Agency (BPSK). Consumers' legal rights are acknowledged, though they remain vulnerable due to the purchase of illegal goods. Business actors may be held liable for product liability, including the obligation to provide accurate information and face sanctions. In conclusion, consumer protection in black market iPhone transactions remains insufficient, and stronger enforcement is necessary.

The development of digital technology has significantly transformed consumer purchasing behavior in recent years. Shopping activities that were previously conducted in person have now shifted to e-commerce and social commerce platforms that offer greater convenience, speed, accessibility, and a variety of attractive promotions. Two platforms experiencing rapid growth in Indonesia are Shopee and TikTok Shop, both of which have gained popularity among diverse consumer segments. These platforms not only offer a wide range of products but also provide interactive shopping experiences through features such as promotions, live shopping, consumer reviews, personalized recommendations, and ease of transactions. This situation has led to notable changes in consumers' purchasing decision-making processes and preferences. Factors such as app usability, promotional strategies, consumer trust, social media influence, user engagement, and evolving digital lifestyles are becoming increasingly dominant in determining purchasing decisions. Therefore, this study aims to analyze the key factors influencing consumer purchasing decisions on the Shopee and TikTok Shop platforms in the digital era, as well as to provide deeper insights into consumer behavior in an increasingly digital marketplace.

The advancement of financial technology has resulted in the creation of electronic wallets that serve not only as payment instruments but also as platforms for electronic transactions and digital loan services. This situation engenders a conflict between the implementation and the prevailing regulation, specifically Bank Indonesia Regulation Number 18/40/PBI/2016 regarding Payment Transaction Processing, which raises concerns about legal certainty and user protection, particularly in relation to the delineation of supervisory authority between Bank Indonesia and the Financial Services Authority. This research aims to elucidate the regulation of electronic wallets in terms of legal clarity, legal protection, and oversight by the Financial Services Authority and Bank Indonesia concerning the adoption of electronic wallets. This study employs a normative legal methodology. Data is derived from secondary sources, encompassing primary, secondary, and tertiary legal literature. This study employs both a legislative and a conceptual methodology. The research findings suggest that the regulation of electronic wallets, as per Bank Indonesia Regulation, has not entirely met user requirements. Bank Indonesia Regulation Number 18/40/PBI/2016, on the Implementation of Payment Transaction Processing, does not explicitly address legal certainty and legal protection for users who deposit funds or utilise digital loan services on electronic wallets. This situation establishes a disparity between regulatory implementation and governing rules, which may result in insufficient oversight of electronic wallet operations and a discord of authority between Bank Indonesia and the Financial Services Authority regarding the supervision of financial transactions in Indonesia.

The rapid growth of the e-commerce sector in Indonesia has significantly increased the use of personal data in digital transactions, which in turn has led to more complex risks of data breaches. This issue reflects a gap between technological advancement and the readiness of adequate data protection systems. This study aims to analyze the implementation of Law Number 27 of 2022 on Personal Data Protection in addressing data breaches on e-commerce platforms and to identify factors influencing its effectiveness. The research employs a normative legal method with a statutory and literature approach. The findings indicate that although the regulation provides a strong legal foundation, its implementation still faces several challenges, including weak supervision, low compliance among business actors, and limited public awareness in protecting personal data. In addition, technical vulnerabilities and human error are identified as the primary causes of data breaches. The implications of this study highlight the importance of strengthening supervision, improving data security standards by e-commerce platforms, and enhancing public education to establish a more effective and sustainable personal data protection system in Indonesia.

This study aims to describe the level of service optimization in Financial Institution Pension Funds (DPLK) through the management of periodic pension benefit payments, additional benefits, and voluntary contributions using a descriptive-analytical approach. The data were derived from reports of 24 DPLK administrators collected in April 2026. The findings indicate that service optimization is largely determined by the effectiveness of managing periodic pension payments, other pension benefits, and contributions beyond the core program. This issue becomes crucial when viewed from DPLK performance trends over the past five years (2021–2025), where collected funds—comprising contributions and investment returns—were consistently lower than pension benefit payments, with an average ratio of 63%. This imbalance highlights sustainability concerns. The study identifies significant untapped potential, including Rp5.79 trillion annually (36% of total pension benefits) in periodic payments not yet optimized, Rp2.4 trillion for other benefit programs over 10 years, Rp1 trillion for religious-related funds, and Rp1.2 trillion in voluntary contributions from existing participants. To address these gaps, DPLK institutions need to strengthen regular and personalized communication beyond transactional interactions, ensuring participants are more engaged. Integrated services that emphasize transparent benefits, ease of contribution, continuous financial education, and digital accessibility are essential. Ultimately, optimizing DPLK services requires not only system and product improvements but also attention to participant behavior and service quality to enhance retirement well-being.

The Constitutional Court Decision Number 105/PUU-XXII/2024 has significantly reshaped the legal construction of defamation provisions under the Electronic Information and Transactions Law (EIT Law), particularly by limiting the interpretation of the phrase “other persons” to natural persons (natuurlijk persoon) only. This study aims to analyze the implications of the decision on legal certainty as well as its impact on litigation practices and legal protection for legal entities in Indonesia. This research employs a normative juridical method using statutory and conceptual approaches. The findings indicate that the decision enhances legal certainty by clarifying previously ambiguous norms that often led to the criminalization of freedom of expression. However, the restriction of legal subjects has shifted the legal protection mechanism for legal entities from criminal to civil remedies under Article 1365 of the Civil Code. This shift poses challenges in terms of effectiveness, particularly due to more complex litigation processes and the lack of deterrent effect compared to criminal sanctions. Therefore, a balanced approach is required between protecting freedom of expression and safeguarding institutional reputation, alongside strengthening regulations and public legal awareness to achieve justice, legal certainty, and legal utility.

The rapid development of information technology requires adaptation across various business sectors, including small and medium enterprises (SMEs). BUMDes Poto Bo’o, located in Wolotopo Village, Ndona Timur District, still manages sales data manually using ledger books. This practice leads to several issues, such as data inaccuracies, lack of automatic inventory updates, and delays in report generation.This study aims to design and implement a basic necessities (sembako) sales information system for the BUMDes. The system development method used is the waterfall model, which consists of requirement analysis, system design, implementation, testing, and maintenance stages. The system is developed using PHP programming language and MySQL database.The main features of the system include product management, customer management, transaction processing, tracking of incoming and outgoing goods, and real-time sales reporting. The results show that the developed information system improves transaction recording accuracy, enhances inventory data accuracy, and accelerates the sales reporting process.Therefore, the system is expected to improve the operational efficiency of BUMDes Poto Bo’o, support financial management transparency, and increase public trust in the performance of the village-owned enterprise.

This research was conducted with the aim of developing an automation system for recording warehouse inventory based on Google Sheets to improve the effectiveness and efficiency of the stocktaking process at the Cresta Management warehouse. This research was based on problems in the semi-manual process that used logbooks and separate files for each group of goods, which caused problems such as data duplication, limited data access, lack of data transparency, and lengthy recapitulation process. This research used the Research and Development method using the ADDIE model (Analyze, Design, Develop, Implement, and Evaluate). Data were collected through observastion, interviews, questionnaires, and documentation. The result of this development is a system consisting of a login page, goods transcation recording, warehouse dashboard, stock reports, stock cards, and PDF report exports. This study also produced evaluation scores regarding the system’s feasibilty: 93,3% from the first media expert, 80% from the second media expert, 73,3% from the material expert, and 91,75% from users through User Acceptance Testing. These evaluation results indicate that the system is feasible for use and implementation in supporting warehouse operations, as it provides real time data updates, improves the efficiency of goods reporting, and enhances warehouse transactions.

This study aims to critically analyze the determination of the Tax Base (Dasar Pengenaan Pajak/DPP) in the withholding tax mechanism under Article 23 of the Indonesian Income Tax Law for freight forwarding services at PT MPX Indonesia. The research focuses on evaluating the implementation of the “All-In” billing model, where all operational costs are consolidated into a single gross invoice amount and treated as the taxable base. This approach raises concerns regarding its compliance with applicable tax regulations, particularly in distinguishing between service fees and reimbursable expenses. The study employs a qualitative descriptive method using a case study approach. Data are collected through documentation analysis of transaction records, including invoices and Unified Income Tax withholding receipts. The findings are expected to provide insights into the appropriateness of the applied tax base determination method and its implications for tax compliance and efficiency within the company’s operational practices and financial reporting system.