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Chintia Permatasari; Noenik Soekorini; Vieta Imelda Cornelis

IJLS (International Journal of Law and Society) 2026 Asosiasi Penelitian dan Pengajar Ilmu Hukum Indonesia

The right to health is a fundamental human right that remains inherent to prisoners. This study aims to examine the legal protection of prisoners' right to health care as regulated in Law Number 22 of 2022 on Corrections, as well as its implementation in correctional institutions. The research uses a normative juridical method with statutory and conceptual approaches. The findings show that Law Number 22 of 2022 formally guarantees prisoners' access to health services, including mental health care and special protection for vulnerable groups such as women, the elderly, and persons with disabilities. Key provisions in Articles 10, 11, 12, and 14 establish the state's obligation to provide adequate health services equivalent to community standards. However, in practice, the realization of this right faces several obstacles including: (1) overcapacity of correctional facilities exceeding 180% of ideal capacity, (2) limited medical personnel with many institutions lacking permanent doctors, (3) inadequate health facilities and medicine supplies, (4) complicated referral procedures causing delays in emergency treatment, and (5) insufficient budget allocation. Strengthening technical regulations, improving infrastructure, enhancing cross-sectoral collaboration, and implementing effective oversight mechanisms are essential to ensure effective protection of prisoners' health rights as mandated by the constitution and international human rights standards.

Endang Yulianingsih; Sri Astutik; Noenik Soekorini

IJLS (International Journal of Law and Society) 2026 Asosiasi Penelitian dan Pengajar Ilmu Hukum Indonesia

This study aims to analyse the role of the Department of Manpower in providing protection to former Indonesian Migrant Workers (PMI) returning from abroad and to identify the challenges encountered in performing this function. This research employs a normative juridical approach using secondary data sources, including statutory regulations, scientific journals, and institutional reports from 2020 to 2025. The findings reveal that the Department of Manpower plays several key roles, including providing information and education, coordinating with related agencies, offering legal assistance, supporting social and economic reintegration, and monitoring non-procedural placements. These roles are firmly grounded in Law Number 18 of 2017 concerning the Protection of Indonesian Migrant Workers and Government Regulation Number 59 of 2021. However, implementation remains constrained by inaccurate data, limited human resources and budget, weak institutional coordination, and suboptimal legal complaint services. Despite these challenges, efforts have been made through strengthening integrated services, staff training, public education, and the use of information technology. This study concludes that the protection of former migrant workers requires a holistic, participatory, and sustainable approach to ensure the fulfilment of their rights as mandated by law.

Inayatur Rohimah; Anizah Anizah; Mashudi Mashudi

Jurnal Ekonomi Keuangan Syariah dan Akuntansi Pajak 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The development of digital technology has driven the transformation of financial services, including in Islamic microfinance institutions. One form of innovation is the implementation of mobile banking services, which aims to improve transaction efficiency and digital financial literacy among the public. This study aims to analyze customer perceptions of the Mobile UGT service program at BMT UGT Nusantara Labang Branch and its role in improving digital financial literacy among the public. This study uses a qualitative approach with a descriptive method. Data was collected through in-depth interviews, observations, and documentation of five active customers who have used the Mobile UGT service. The results show that customers generally have a positive perception of the Mobile UGT service. The application is considered easy to use, practical, and able to facilitate various financial transactions such as checking balances, transferring funds, and making payments, without having to come directly to the BMT office. In addition to increasing transaction efficiency, the use of Mobile UGT also contributes to improving customers' digital financial literacy, as reflected in their increased understanding of income and expenditure management, budget planning, utilization of digital transaction features, and awareness of data and account security. However, this study also found several obstacles, mainly related to technical disruptions to the application and internet network limitations. Overall, the Mobile UGT service plays an important role in supporting customers' financial independence and digital financial inclusion. This study recommends strengthening technological infrastructure and continuing education programs to optimize the benefits of digital financial services in the BMT environment.

Fransiska Ena Eki; l Putu Y. B. Pradana; Hendrik Toda; Adriana R. Fallo

Public Service And Governance Journal 2026 Universitas 17 Agustus 1945 Semarang

This study aims to analyze the effectiveness of waste management in preventing fires at the Alak Landfill (TPA) in Kupang City using a qualitative case study approach. Data was collected through interviews, observations, and documentation involving officials from the Environmental and Sanitation Office, landfill workers, waste pickers, and surrounding communities. The findings indicate that the effectiveness of waste management remains low. In terms of input, financial resources, infrastructure, and human resources are insufficient to support optimal operations. During the process stage, waste collection and transportation are hindered by low public compliance, limited vehicles, and minimal waste segregation. Final waste processing still relies on the open dumping method, which increases waste accumulation, methane generation, and fire risks. In terms of output, various mitigation efforts have not successfully reduced the recurring fire incidents due to limited facilities, inadequate compaction, and the absence of gas monitoring systems. The results highlight the need for increased budget allocation, improved facilities, enhanced human resource capacity, and the implementation of safer and more sustainable waste management methods to reduce fire risks at the Alak Landfill.

Putri Suria Fridolin Sakan; Marlen Angela Daik; Nimrot Doke Para

Jurnal Riset Rumpun Ilmu Pendidikan 2026 Lembaga Pengembangan Kinerja Dosen

This study erxaminers ther influerncer of library facility and infrastructurer managermernt on studernt satisfaction at Sterlla Maris Loli Catholic Privater Junior High School. A quantitativer merthod with a correrlational approach was employed to identify the relationship between the two variables. The analysis results reveal that the management of library facilities and infrastructure falls into an unsatisfactory category, with an average student satisfaction score of 49.3%. The t-test indicates a significant positive effect (t count = 9.040) between management and satisfaction levels, where 42% of student satisfaction can be explained by library management. Additionally, factors such as procurement, storage, and maintenance exacerbate the situation. These findings emphasize the need for improvements in library management, including better planning and adequate budget allocation. By enhancing the management of facilities and infrastructure, student satisfaction is expected to increase, consequently encouraging students to be more actively engaged in visiting the library. As a rercommerndation, ther school should derverlop a stratergic managermernt plan for ther library focuserd on improving serrvicer quality and facilities.

Wulan Ariby; Gistran Yoga Arinda; Fadli Hasbi Hasibuan

Inovasi Kesehatan Global 2026 Lembaga Pengembangan Kinerja Dosen

This study aims to describe the condition of clean water access and its impact on public health in Swadaya Village. The research employed a qualitative approach through in-depth interviews with household heads, community leaders, health workers, and local water managers. The findings reveal that access to clean water in Swadaya Village remains very limited. Most residents rely on dug wells and river water for daily needs, while only a small portion use water from the local water utility (PDAM) due to high installation costs and limited pipeline coverage. The water quality often decreases during the dry season, becoming cloudy, odorous, and causing skin irritation. These conditions contribute to the increasing incidence of waterborne diseases such as skin infections, diarrhea, and typhoid fever. Besides infrastructure limitations, the lack of community awareness regarding hygiene and sanitation practices worsens the situation. Although the village government has proposed clean water development programs, their implementation has been hampered by budget constraints. The study concludes that clean water problems in Swadaya Village are not only related to resource availability but also to environmental management and community behavior. Therefore, improving water infrastructure must be accompanied by community education to promote a healthy, safe, and sustainable living environment.

Ilham Yoga Pratama; Hasbullah Azis; Rahmat Wisudawanto

Jurnal Ilmu Komunikasi, Administrasi Publik dan Kebijakan Negara 2026 Asosiasi Peneliti Dan Pengajar Ilmu Sosial Indonesia

Public communication in efforts to prevent drug abuse faces increasingly complex challenges in the digital era, particularly in reaching young people who are strongly influenced by social media and the dynamics of their social environment. This study aims to analyze the communication strategies implemented by the National Narcotics Agency (BNN) of Surakarta City in carrying out the Drug Abuse Prevention, Eradication, and Illicit Trafficking Program (P4GN) oriented toward the younger generation. The study employs a descriptive qualitative approach, with data collected through in-depth interviews with public relations staff of BNN Surakarta City, as well as a review of program documents and communication materials. The data were analyzed using content analysis and validated through source and method triangulation. The findings indicate that BNN’s communication strategies include audience segmentation based on age and educational level, the utilization of digital media such as Instagram and TikTok, and collaboration with local public figures, micro-influencers, and youth communities. Peer-based and participatory communication approaches are considered more effective than one-way, purely informative communication patterns. Nevertheless, limitations in human resources and budget, along with the rapid flow of digital information, remain the main challenges in program implementation. This study emphasizes the importance of persuasive, adaptive, and contextual communication strategies to enhance the effectiveness of P4GN campaigns among the younger generation.

Filmon Lopo; Karolus Kopong Medan; Rudepel Petrus Leo

Journal of Administrative and Sosial Science (JASS) 2026 Sekolah Tinggi Ilmu Administrasi (STIA) Yappi Makassar

Procurement of Government Goods / Services is a government spending mechanism that plays an important role in the utilization of state budget. Construction services are sectors that play an important role in Indonesia's development. Through this sector, the physical progress of development can be seen directly. In practice in general the implementation of procurement of goods / services Government construction often occurs problems, among other things, violations of both the Procurement Procurement procedure and the infringement that are detrimental to the State or the criminal act of corruption perpetrated by the organization of procurement of goods / services Construction. The purpose of this study is to determine the legal arrangements for the procurement of goods / services of construction after Perpres No. 4 Tahun 2015 and To know how the implementation of the application of criminal law of corruption in the field of goods / construction services on the decision No. 42/Pid.sus-TPK/2019/PN.KPG. This research is a normative research using primary data and secondary data. The data were collected through interview method and literature study which then analyzed qualitatively and presented descriptively. Based on the results of research has been done, the authors concluded that (1) has been arranged various legal instruments related to the implementation of procurement of goods / government construction services starting from the Act up to the Presidential Decree as a technical arrangement; and (2) the application of criminal law of corruption to the decision No. 42Pid.sus TPK/2019/PN.KPG has been in accordance with the provisions the provisions of the Act constitution. 20 year 2001 jo constutition No 31 Tahun 1999 about Eradiction Criminal Act of Corruption.

Siti Markhamah; Sudarmiatin Sudarmiatin; Agus Hermawan

International Journal of Entrepreneurship and Management 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

On the effectiveness of using social media as a marketing channel for MSMEs in Balikpapan. MSMEs play a major role in the national and regional economy, but developments in digital technology have caused marketing patterns to change drastically from traditional methods to online media. Social media such as Instagram, Facebook, TikTok, and X are now effective marketing tools because they are able to reach a wide audience at a low cost. However, this effectiveness is highly dependent on content quality, consistent interaction, and the right marketing strategy. Although social media offers many opportunities, MSMEs in Balikpapan still face various obstacles, such as limited human resources with an understanding of digital content, a lack of ability to read marketing metrics, and limited advertising budgets. In addition, research on the effectiveness of social media on MSMEs, especially in Balikpapan, is still minimal. Therefore, this study was conducted to analyze the extent to which MSMEs utilize social media, assess its effectiveness through indicators such as reach, interaction, and sales, and identify supporting and inhibiting factors. The results of this study are expected to provide strategic recommendations for MSMEs and theoretical contributions to the development of digital marketing models.

Lidra Firdaus; Diga Putri Oktaviane; Wahib Ashari

Journal of Administrative and Sosial Science (JASS) 2026 Sekolah Tinggi Ilmu Administrasi (STIA) Yappi Makassar

Ibnu Sina Yarsi Islamic Hospital Padang Panjang plays a crucial role in providing medical services to the community. However, challenges such as inadequate facilities, limited service space, and insufficient healthcare personnel have led to long queue times and schedule mismatches, adversely affecting patient satisfaction. This study analyzes strategies to improve service quality at the hospital using a qualitative descriptive approach with data collected through observation, interviews, and documentation involving management, medical staff, and patients. Data validity was ensured by triangulation, and analysis followed the Miles and Huberman interactive model. The findings reveal that strategies focusing on human resource development programs, performance-based budget management, and consistent application of standard operating procedures (SOP) have been implemented effectively. Despite this, limitations in human resources, budget, and physical infrastructure hinder optimal results. Strengthening internal capacity and resource optimization are necessary to achieve sustainable improvements in service quality.

Muhammad Naufal Habibbullah; Lusiana Lusiana; Rafie Rafie

Jurnal Riset Rumpun Ilmu Teknik 2026 Pusat riset dan Inovasi Nasional

The calculation of work volume and construction costs is a fundamental aspect of project management, as errors in the estimation process can directly affect the preparation of the project budget. Many projects still use conventional methods for estimation, which are based on 2D working drawings with the assistance of Microsoft Excel, as seen in the Sungai Raya Religious Court Building project. This method is considered prone to calculation errors and less efficient due to the considerable amount of time required. With the advancement of technology, Building Information Modeling (BIM) has emerged, enabling automatic and integrated calculation of work volumes and construction costs through a three-dimensional digital model. This study aims to examine the implementation of BIM in the Sungai Raya Religious Court Building project and to compare the results of work volume and construction cost calculations between the BIM method using Autodesk Revit and the conventional method based on the project’s Bill of Quantity (BoQ). The research method was conducted by modeling the structural elements of the building, including pile caps, tie beams, columns, beams, floor slabs, and reinforcements. The results of work volume and construction cost calculations obtained from Autodesk Revit were then compared with the project’s BoQ as the conventional method. Based on the analysis, an average difference of 6.3% in work volume and 5.6% in construction cost was found, with the Autodesk Revit calculations showing slightly lower values compared to the project’s BoQ.

Anteng Kiranti; Afif Arrosyid; Estelee Elora Akbar

Jurnal Nuansa : Publikasi Ilmu Manajemen dan Ekonomi Syariah 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This research was conducted with the aim of analyzing and finding out about the empowerment of orphans at LAZNAS PPPA Daarul Qur'an Lampung through Islamic philanthropy-based educational funding. The approach used in this research is descriptive qualitative, using a case study method. The data collection process involved observation, interviews, and document review. Data analysis included data collection, data reduction, data presentation, and conclusion drawing, as well as data validation through triangulation. This study revealed that educational funding rooted in Islamic philanthropy at LAZNAS PPPA Daarul Qur'an Lampung includes budget revenues and expenditures with allocations prepared at the beginning of each year. The expenditure period can be tracked through the LAZNAS PPPA Daarul Qur'an Lampung online system. Distribution efforts include eliminating educational costs for orphans, providing basic necessities, distributing Mushabs for orphaned students who memorize the Qur'an, and supporting orphans. The evaluation of Islamic philanthropy-based education funding at LAZNAS PPPA Daarul Qur'an Lampung involved an analysis that showed that the role of the nadzir (manager) remains limited. All responsibilities and functions of the nadzir, particularly those of branch heads and fundraisers, are aimed at improving management. Furthermore, accountability is a factor taken into account when drafting the budget for the upcoming period.

Lili Andriani; Nova Hari Santhi

Jurnal Bisnis, Ekonomi Syariah, dan Pajak 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Local government accounting policies provide the foundation for financial reporting. The Budget Realization Report (LRA) compares budgeted and actual figures, with the resulting balance recorded as the Sisa Lebih Pembiayaan Anggaran (SILPA, excess financing surplus). This study in East Lombok Regency aims to quantify the SILPA in the 2024 APBD and to analyze the financial accounting policies used in its determination. A descriptive approach combining qualitative and quantitative methods was applied. Data were collected via structured interviews with local finance officials, observations, and document analysis of APBD financial reports. Qualitative data were reduced and presented to describe policy factors, while quantitative analysis computed the SILPA value. Results show the 2024 LRA recorded a SILPA of IDR 6,414,658,153.17, indicating unused budget funds. These funds will finance the 2025 budget deficit for investment and equity in regional companies. The accounting policy for SILPA determination considered key principles such as prudence, substance over form, and materiality, in accordance with government accounting standards (e.g. applying the conservatism principle to avoid recognizing uncertain revenues). This analysis highlights how regional financial policies influence the management of budget surpluses.

Nur Maulidiawati Rahman; Sirwanti Sirwanti; Hirpan Hirpan

Proceeding of the International Conference on Global Education and Learning 2025 Asosiasi Riset Ilmu Pendidikan Indonesia

This study aims to explore the integration of financial literacy into context-based mathematics education at the elementary school level by emphasizing the use of local knowledge in learning activities. Employing a qualitative descriptive approach, this research investigates the experiences and perceptions of students and teachers involved in mathematics learning that connects mathematical concepts with real-life financial situations, such as budgeting, saving, and personal financial management. Data were collected through interviews, classroom observations, and documentation analysis to obtain a comprehensive understanding of the learning process and its outcomes. The findings indicate that integrating financial literacy into context-based mathematics learning enhances the relevance of mathematical content and facilitates students’ conceptual understanding. Students reported increased interest and engagement in mathematics lessons, as well as greater confidence in applying mathematical skills to manage personal finances. The use of familiar financial contexts enabled students to perceive mathematics as meaningful and applicable to their daily lives. Teachers identified limited instructional time and difficulties in explaining abstract concepts as key obstacles in the implementation process. Overall, the results suggest that context-based mathematics learning integrated with financial literacy has strong potential to improve students’ mathematical understanding and financial awareness while fostering practical life skills. Nevertheless, effective implementation requires careful instructional planning, adequate time allocation, and appropriate pedagogical strategies to address complex financial concepts. This study contributes to the growing body of research on contextualized mathematics education by highlighting the importance of integrating local context and financial literacy to enhance the quality and relevance of elementary mathematics education.

Raffly Firmansyah Putra; Wilchan Robain; Vira Khairunisa; Zuhairi Rangkuti; Siti Nur Fadhilah +1 more

Jurnal Bisnis Kreatif dan Inovatif 2025 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

This article aims to provide a comprehensive literature review on how professional ethics can serve as an effective strategy to prevent fund misuse within organizational financial management. Professional ethics is viewed as a set of moral values, behavioral norms, and professional standards that guide financial managers to perform their duties with honesty, responsibility, and without conflicts of interest. In the context of financial management, these duties include recording, budgeting, monitoring, and reporting financial activities, all of which require accuracy and transparency. The study highlights five main principles of professional ethics: integrity, objectivity, professional competence, confidentiality, and professional behavior. These principles clarify rules, strengthen accountability, and ensure that financial processes comply with established standards. The literature review shows that applying professional ethics not only encourages individuals to act correctly but also enhances responsibility, improves performance, and strengthens financial oversight. Integrity and objectivity play a crucial role in preventing report manipulation, budget inflation, and fund misuse, as these principles demand moral courage and fair decision-making. Professional competence ensures that every financial process is carried out accurately and in accordance with regulations, while confidentiality protects sensitive information from misuse. Professional behavior emphasizes adherence to laws, organizational policies, and professional standards. The article also identifies several supporting factors that enable the effective implementation of professional ethics, such as strong internal policies, leadership commitment to integrity, an ethical workplace culture, layered supervision systems, and continuous ethics training. Conversely, common challenges include weak internal controls, limited understanding of ethics, organizational pressure, conflicts of interest, and inconsistent application of ethical standards. Therefore, this article underscores that integrating professional ethics into organizational financial policies, procedures, and management systems is a key step in preventing fund misuse and strengthening stakeholder trust in the organization’s transparency and accountability.

Nur Maulidiawati Rahman; Sirwanti Sirwanti; Hirpan Hirpan

Prosiding Seminar Nasional Ilmu Pendidikan 2025 Asosiasi Riset Ilmu Pendidikan Indonesia

This study explores the integration of financial numeracy with local wisdom in mathematics education in Indonesia. By incorporating real-life financial scenarios, such as budgeting, saving, and investment calculations, into mathematics lessons, the research aims to enhance students' understanding of mathematical concepts while simultaneously improving their financial literacy. The study also emphasizes the importance of using local cultural and economic knowledge as a context for learning, making abstract mathematical concepts more relevant and accessible. The findings suggest that contextualizing mathematics education through local wisdom significantly improves student engagement, understanding, and practical application of mathematical knowledge. The integration of financial numeracy helps students make informed financial decisions and prepares them for future financial challenges. This research contributes to the development of a mathematics curriculum that combines financial literacy with local context, offering a more inclusive, relevant, and practical approach to education. The study’s findings contribute to the ongoing development of more inclusive, relevant, and practical educational frameworks that incorporate financial literacy into the mathematics curriculum.

Bambang Aditio; Aldri Finaldi; Asnil Asnil

Parlementer : Jurnal Studi Hukum dan Administrasi Publik 2025 Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

This study examines the dynamics of Data Driven Policy implementation in Indonesia, which faces a disconnect between the ambitions of digital regulation and the reality of execution on the ground. Using a qualitative approach with the Three Lenses of Evidence-Based Policy analysis framework (Head, 2008), this study examines the interaction between scientific evidence, political considerations, and professional practices in government data governance. The results show that although legal infrastructure such as Satu Data Indonesia (SDI) has been established, its effectiveness is hampered by structural barriers: the dominance of sectoral egos and a culture of intuitive decision-making (political lens), as well as a mix of digital talent and resistance from a paternalistic bureaucratic culture (practical lens). These findings confirm that data fragmentation and cybersecurity incidents are not simply technical failures, but rather systemic governance failures. Therefore, this study recommends a “soft reform” strategy that integrates the enforcement of technical standards, budget incentive mechanisms, and digital leadership transformation to align data validity with the political realities of the bureaucracy.

Hotmarulitua Manalu; Sudarmiatin Sudarmiatin; Agus Hermawan

International Journal of Management Science and Business 2025 International Forum of Researchers and Lecturers

This study investigates the influence of financial literacy, entrepreneurship training, and financial inclusion on the performance of micro, small, and medium enterprises (MSMEs) through business sustainability. Using a systematic literature review (SLR) examines the impact of financial literacy, entrepreneurship training, and financial inclusion on MSME performance through business sustainability mediation by synthesizing empirical data from 12 research (2020–2025) across Scopus and Web of Science. Positive direct effects on sustainability (financial literacy via budgeting/risk management; training via adaptive resilience; inclusiveness via digital access) and performance metrics like profitability/growth are confirmed by results using the PRISMA 2020 flow.  Amid obstacles like financial access restrictions and COVID-19 disruptions, business sustainability appears as a crucial mediator, linking these factors to improved MSME results in developing contexts (Africa, Indonesia). Practical implications compel policymakers to give integrated literacy programs, contextual training, and inclusive finance top priority. Theoretical contributions combine financial literacy, entrepreneurial learning, and sustainability ideas into a holistic mediation model. The results highlight the importance of integrating financial education, entrepreneurial skill development, and inclusive financial systems to strengthen MSME resilience and competitiveness. This study provides practical implications for policymakers, financial institutions, and support organisations in designing effective interventions that foster sustainable business growth. The research also contributes theoretically by confirming the mediating role of business sustainability in the relationship between financial literacy, entrepreneurship training, financial inclusion, and MSME performance. Future studies may expand these insights by examining additional contextual factors such as digital technology adoption and business networking that further support sustainable MSME development.

Muhammad Rio Rinaldi; Fitriyana Fitriyana

Jurnal Kajian Ilmu Sosial, Politik dan Hukum 2025 Asosiasi Peneliti dan Pengajar Ilmu Hukum Indonesia

This study aimed to analyze the implementation of policies prohibiting illegal fishing practices involving the use of explosives, poisons, and electric shock devices in Sanga-Sanga District, Kutai Kartanegara Regency. Although regulations and extension activities related to the prohibition have been established, illegal fishing practices continue to occur as of 2025. The findings reveal that some fishermen still use poison and electric shock due to economic reasons and the perception that these methods yield greater catches. However, such actions cause losses to other fishermen by reducing the quality of the catch and damaging the aquatic ecosystem. The community is aware of these violations but is reluctant to report them due to fear of threats from the perpetrators. Efforts by fisheries extension officers to establish community-based surveillance groups (Pokmaswas) have not been optimal due to low public participation. Collaboration between provincial fisheries supervisors and the local marine police (Polairud) has resulted in joint patrols that successfully apprehended two perpetrators of illegal fishing, yet law enforcement has not produced a deterrent effect. Moreover, the program to replace destructive fishing gear with environmentally friendly alternatives for fishermen willing to transition has not been realized due to budget constraints. Based on these findings, it is necessary to strengthen integrated surveillance, provide legal protection for whistleblowers, accelerate the implementation of sustainable fishing gear programs, and enhance public awareness of legal and ecological issues.

Syahri Abdillah Nasution; Tiara Andini Sirait; Triwibowo Haryo Pamungkas; Yahya Nur Shadiq

Kajian Ekonomi dan Akuntansi Terapan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

In the context of Indonesia's post-pandemic financial market dynamics, investment and financing decisions often face challenges of cash flow uncertainty and capital cost volatility, requiring a Profitability Index (PI) and Weighted Average Cost of Capital (WACC) perspective to ensure optimal resource allocation to maximize company value. This study aims to analyze the effectiveness of investment and financing decisions through the integration of PI and WACC based on a synthesis of the latest literature. A descriptive qualitative approach was used through a literature study with secondary data from financial journals and textbooks from 2021-2025, collected from Google Scholar and university repositories, then analyzed thematically with data reduction, presentation, and literature triangulation to interpret the PI, IRR, and WACC indicators. The results show that PI is consistently >1 (ratio of 1.15-1.45) and IRR > WACC (average of 10-12%), confirming the feasibility of 70% of manufacturing projects, while WACC of 9.8% from the optimal capital structure (debt ratio of 40-50%) supports an effective tax shield, despite being constrained by multiple IRRs, conflicting metric rankings, and BI interest rate fluctuations that increase implicit costs by up to 15%. It can be concluded that PI-WACC integration increases theoretical profitability by 12% through precise allocation, but is limited by the generalization of secondary data; a hybrid model with mixed-method validation is recommended for the non-manufacturing sector in emerging markets.