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Economic empowerment of rural communities through the strengthening of Micro, Small, and Medium Enterprises (MSMEs) is a crucial pillar in achieving national economic independence. One of the fundamental obstacles faced by MSMEs in rural areas is financial exclusion due to low digital literacy and dependence on conventional cash transaction systems. The Community Service Program (KKN) of students from the State Islamic University of North Sumatra (UIN SU) in Pematang Tengah Village was designed to bridge this gap by optimizing the Indonesian Standard Quick Response Code (QRIS). Through an intensive participatory mentoring approach, students acted as agents of digital transformation who educated, trained, and facilitated 10 local MSME actors in adopting non-cash payment technology. The results of the program show a significant shift from digital skepticism to digital trust. The implementation of QRIS has been proven to increase operational efficiency, financial management accuracy, and strengthen the image of business modernity in the eyes of consumers. This article emphasizes that the role of students is not merely as information deliverers, but as catalysts of social capital that is crucial for the sustainability of digitalization at the village level.

The property and real estate sub-sector serves as a strategic pillar for investment in Indonesia, despite BPS (2023) data showing a growth slowdown to 2.18% due to macroeconomic pressures. Financial performance throughout the 2021–2024 period exhibited significant volatility, with profit growth contracting to –5% in 2022 before rebounding to 15% in 2024. These fluctuations reflect the dynamics of economic recovery and the success of corporate operational efficiency in navigating interest rate hikes and inflation. This study aims to determine the effect of Company Size, Capital Structure, Return on Assets (ROA), and Total Asset Turnover (TATO) on Profit Growth. The population used in this study is the Property & Real Estate sub-sector companies listed on the Indonesia Stock Exchange for the 2021–2024 period. This study uses secondary data with a population of 68 companies. The sampling technique used a purposive sampling technique, resulting in a research sample of 30 Property & Real Estate sub-sector companies. The analysis technique used is multiple linear regression analysis processed using the Statistical Package for the Social Sciences (SPSS) program. The results show that Capital Structure, Return on Assets, Total Asset Turnover, and Company Size influence Profit Growth.

This study aims to analyze the effect of capital structure, profitability, and firm size on firm value at PT Tiga Pilar Sejahtera Food Tbk during the period 2015–2024. The research employs a quantitative approach using secondary data obtained from the company’s annual financial statements. Data were analyzed using multiple linear regression with the assistance of SPSS software. Prior to hypothesis testing, classical assumption tests were conducted, including normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results indicate that capital structure has a positive and significant effect on firm value. Meanwhile, profitability and firm size do not have a significant effect on firm value. Simultaneously, capital structure, profitability, and firm size do not significantly affect firm value. These findings indicate that the explanatory power of the regression model is limited, which may be influenced by the relatively small sample size and the presence of other factors outside the research model that affect firm value.

This study examines the mediating role of SDG disclosure in the relationship between ESG score and financial performance within the mandatory reporting context of non-financial firms listed on the Indonesia Stock Exchange during 2021-2023. Using a purposive sample of 59 companies (177 observations), the analysis employs panel data regression and the Sobel test to evaluate ESG metrics from Refinitiv Eikon alongside disclosure and financial data from corporate reports. Empirical results show that ESG score does not significantly predict SDG disclosure nor directly affect financial performance measured by ROE. Furthermore, SDG disclosure shows no significant association with financial performance and fails to mediate the ESG-ROE relationship. Firm size is the only variable positively related to SDG disclosure, suggesting that reporting practices are more strongly driven by organizational resources and public visibility than by substantive ESG performance. Overall, the findings reveal a decoupling phenomenon, where sustainability reporting in Indonesia tends to reflect symbolic compliance rather than value-creating integration. The study concludes that a credibility gap exists in the capital market, as SDG disclosure has not yet functioned as an effective mechanism for converting ESG performance into financial gains. This study provides evidence on the limitations of SDG disclosure as a value transmission mechanism in emerging market, offering insights for regulators and market participants seeking to enhance the economic relevance and credibility of SDG reporting.

This research is based on the understanding that increasing the number of entrepreneurs is a crucial element for a country's economic growth. The contribution of the younger generation, especially college graduates, is vital in improving the quality of human resources and driving national economic growth. This study aims to examine the influence of entrepreneurship learning and entrepreneurial motivation on the entrepreneurial interest of students in the Economics Education study program at PGRI Wiranegara University. This education also has the potential to reduce unemployment and make entrepreneurship a promising career path. In addition to physical capital, interest and courage in entrepreneurship are crucial intangible assets for students in optimizing their potential and contributing to the country's economic growth. The method used in this study was quantitative with an associative design. Data were collected by distributing questionnaires to Economics Education students from the classes of 2021, 2022, and 2023 who had completed the "Entrepreneurship" course. Validity was tested using the Pearson correlation coefficient, while reliability was tested using the Cronbach's Alpha method. Data analysis was performed using multiple linear regression. Based on the results obtained, it was concluded that entrepreneurship learning and entrepreneurial motivation have both partial and simultaneous effects on entrepreneurial interest among students in the Economics Education Study Program at Universitas PGRI Wiranegara.

The Village-Owned Enterprise (BUMDesma) plays an important role in empowering the local community's economy. BUMDesma "Bumi Artha Mandiri LKD" in Kemujan Village runs a revolving loan program to meet the capital needs of the community, particularly for micro-business actors. This study aims to describe the structure, procedures, and performance of the accounting system applied to the program, as well as to identify obstacles and efforts for improvement. The research method used is qualitative descriptive with data collection through direct observation, interviews with BUMDesma managers and borrower members, and financial document analysis. The results show that the running accounting system includes modules for member registration, lending, payments, and financial reports with recording procedures in accordance with basic accounting principles. The advantages of this system include high transparency and adequate risk control, but it still faces challenges such as limited technology, management capacity, and availability of accurate data. Planned improvements include the adoption of information technology, continuous training, and enhanced cooperation with the community. The study concludes that the existing accounting system has made a positive contribution, but it needs to be strengthened to support the sustainability of the revolving loan program and the economic empowerment of the village.

This study aims to examine the effect of Asset Structure, Profitability and Sales Growth on Capital Structure at PT Industri Jamu Dan Farmasi Sido Muncul Tbk for the 2014-2024 period, both partially and simultaneously. Asset structure is measured by total assets, profitability is measured by return on assets, sales growth is measured by sales growth, and capital structure is measured by debt to equity ratio. This study is a quantitative study with an associative approach. The data used in this study are the balance sheet and income statement of PT. Industri Jamu Dan Farmasi Sido Muncul Tbk for the 2014-2024 period. The method used in this study is multiple linear regression analysis techniques, classical assumption tests, t-tests, f-tests and coefficients of determination processed using the SPSS 26 program. The results of the study show that asset structure does not affect capital structure with a calculated t value of 2.288 t table 2.365. Sales growth does not affect the capital structure with a calculated t value of -0.203 < t table 2.365. And simultaneously, Asset Structure, Profitability and Sales Growth have an influence on the Capital Structure of the Company PT Industri Jamu Dan Farmasi Sido Muncul Tbk. Proven from the results of the f test, the calculated f value is 8.083 > f table of 4.35 and the sig value is 0.011 < 0.05.

This research try to examine how investment choices in property and real estate sector businesses listed on IDX (2020-2024) are impacted by the cost of debt and equity.For the accuracy of the analysis, this study also uses firm size and profitability as controler. Purposive sampling was used in the sampling process, which produced seven qualifying organizations with a total of 35 observations over a five-year period. Panel data regression was used for data analysis, and the Common Effect Model was shown to be the best estimation model. The findings show that investment decisions are significantly influenced by firm size, profitability, cost of debt, and cost of equity all at the same time. Nonetheless, investment choices are not much impacted by the cost of debt. Similarly, it has been demonstrated that the cost of equity has no appreciable effect on the capital expenditures of the businesses. Firm size has a favorable and substantial impact, making it the main motivator for investment activity in the real estate industry. During the study period, investment decisions were not significantly impacted by profitability. These results show that, especially in the post-pandemic economic recovery era, asset capacity and economies of scale are more important for the viability of real investment projects for property firms on the IDX than yearly variations in capital costs.

Penelitian ini bertujuan menganalisis pengaruh Good Corporate Governance (GCG), Financial Risk, dan Capital terhadap Opini Audit, dengan Earning sebagai variabel intervening dan Reputasi Kantor Akuntan Publik (KAP) sebagai variabel moderasi, pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2024. Penelitian menggunakan pendekatan kuantitatif kausal dengan data panel dari 15 bank yang dipilih secara purposive sampling, sehingga diperoleh 75 observasi bank-tahun. GCG diproksikan dengan jumlah Dewan Direksi dan Komite Audit; Financial Risk diproksikan dengan Non-Performing Loan (NPL) dan Loan to Deposit Ratio (LDR); Capital diproksikan dengan Debt to Equity Ratio (DER) dan Debt to Asset Ratio (DAR); Earning diproksikan dengan Return on Assets (ROA) dan Return on Equity (ROE); dan Opini Audit diukur dengan skor 1–5 berdasarkan jumlah catatan tambahan auditor. Data dianalisis menggunakan Partial Least Squares Structural Equation Modeling (PLS-SEM) berbantuan SmartPLS dengan konstruk formatif dan prosedur bootstrapping 5.000 resample. Hasil penelitian menunjukkan Financial Risk dan Capital berpengaruh negatif signifikan terhadap Earning, sedangkan GCG tidak berpengaruh signifikan. GCG dan Capital berpengaruh signifikan meskipun dengan arah negatif terhadap Opini Audit, sementara Financial Risk dan Earning tidak berpengaruh signifikan. Earning tidak terbukti memediasi pengaruh variabel eksogen terhadap Opini Audit, dan Reputasi KAP tidak terbukti memoderasi hubungan Earning-Opini Audit, meskipun berpengaruh positif secara langsung terhadap Opini Audit. Temuan ini mengindikasikan bahwa pada industri perbankan yang sangat teregulasi, opini audit lebih ditentukan oleh kewajaran penyajian laporan keuangan dan kredibilitas auditor dibandingkan kinerja profitabilitas semata.

Conflicts in transmigration areas are generally multidimensional and influenced by social, economic, land, and institutional factors. This study aims to identify the forms and distribution of conflicts in three districts of the transmigration area, namely Momi Waren District, Ransiki District, and Oransbari District, as well as to formulate a smart system-based conflict resolution approach through the use of spatial data, local institutions, and local wisdom-based settlement practices. Based on field mapping, four main categories of conflict were identified: 1) Land conflicts occur throughout the transmigration sites in the form of claims to transmigration land that has not been handed over to transmigrants because the compensation price is below normal. In addition, there is no ATR BPN office in South Manokwari Regency, one of whose functions is community empowerment and conflict resolution. 2) Economic conflicts occur because transmigrants are registered and recorded in the population registry, making it easy for them to access capital. Several economic activities in agriculture and transportation services are dominated by transmigrants, causing economic jealousy. 3) Social conflicts occur when the distribution of social assistance is uneven and the excessive use of illegally sold alcoholic beverages causes social unrest. 4) Institutional conflicts occur when civil servants, police, and military personnel are recruited, and not all indigenous Papuans who are nominated can be accommodated, requiring the involvement of tribal councils to formulate recommendations for recruitment that prioritize indigenous Papuans. The root causes of the conflict were analyzed using a root cause analysis approach that covered unclear land boundaries, unequal economic access, weak coordination between institutions, and low social trust due to differences in interests between groups. This study utilizes best practices from the Tribal Council, the South Manokwari Regency Transmigration and Manpower Office, the Religious Harmony Forum, and the Social Services Office as the basis for developing smart maps for an early warning system for conflicts. The results of the study formulate a Smart Conflict Resolution System framework consisting of three main components: (1) participatory spatial mapping of conflicts and key actors, (2) integration of institutional databases and social-customary mediation channels, and (3) design of smart maps as a mitigation and decision-making tool in transmigration areas. This system is expected to strengthen collaborative governance, prevent conflict escalation, and realize inclusive and sustainable management of transmigration areas

Tobacco is a leading commodity that forms the foundation of the rural economy, but its cultivation faces challenges in the form of labour intensity, significant capital requirements, and farmers' lack of understanding of systematic cost structures. This study aims to analyse the production cost structure and evaluate the economic efficiency of tobacco farming managed by the Batu Daun Farmer Group in Batuan Village, Sumenep Regency. The research method used a qualitative descriptive approach with data collection through in-depth interviews with the head of the farmer group, field observations, and analysis of financial documents as secondary data. The analysis focused on identifying fixed and variable costs, as well as evaluating economic performance using the Break Even Point (BEP) and Revenue-Cost Ratio (R/C) indicators. The results showed that the total production cost was IDR 28,597,500 (fixed costs of IDR 3,450,000 and variable costs of IDR 25,147,500) for the production of 2,800 kg of tobacco with a gross income of IDR 70,000,000. The R/C ratio value of 2.44 (>1) indicates that the business is operating efficiently and profitably, while the BEP of 215.4 kg shows that actual production far exceeds the break-even point, meaning that the business is in an economically safe zone. The results of the study conclude that the tobacco farming business of the Batu Daun Farmer Group is economically viable and efficient.

Culinary MSMEs serve as a vital economic pillar; however, they often encounter significant internal management obstacles and low digital competitiveness. Sabila Snack & Bakery faces complex challenges, including unstructured production schedules, limited digital marketing literacy, inconsistent visual branding, and financial record-keeping that remains intertwined with personal funds. This community service initiative aims to provide applicable solutions by strengthening internal management and digital marketing strategies to enhance operational efficiency and business competitiveness. The methodology employed is Participatory Action Research (PAR), encompassing stages of observation, interviews, technical assistance, and evaluation. The results indicate a significant transformation in business governance. The implementation of daily production schedules has successfully improved workflow regularity and operational efficiency. Furthermore, branding reinforcement through the establishment of a permanent logo, the creation of systematic product catalogs, and the optimization of social media platforms such as WhatsApp Business, Instagram, and TikTok has effectively increased business visibility and professionalism in the digital sphere. Additionally, the application of a simple bookkeeping system has fostered administrative discipline and a clear separation between personal finances and business capital. Overall, this intervention has successfully transitioned the business from traditional management patterns toward a more structured, professional, and sustainable management model ready to compete in a broader market.

Academic literacy is a crucial competence in Indonesian language learning as it supports the development of critical thinking, academic reading, and writing skills. However, Indonesian language instruction is often disconnected from students’ cultural backgrounds, resulting in less meaningful learning experiences. This study aims to describe the integration of Maumere local cultural texts in Indonesian language learning and to analyze their contribution to strengthening academic literacy based on local wisdom. This research employed a qualitative descriptive approach with a case study design. Data were collected through classroom observations, in-depth interviews with lecturers and students, and analysis of instructional documents. The findings reveal that Maumere local cultural texts were integrated through the use of folktales, traditional expressions, and reflective as well as argumentative writing tasks. This integration contributed to the improvement of students’ critical reading skills, academic argumentation, and reflective literacy. Moreover, local cultural texts functioned as pedagogical capital that bridged students’ cultural experiences with academic language practices. The study concludes that integrating Maumere local cultural texts strengthens academic literacy while affirming students’ cultural identity. Therefore, Indonesian language learning should adopt a contextual approach grounded in local wisdom.

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in Indonesia's economy with a contribution of more than 60 percent to the Gross Domestic Product and the absorption of 97 percent of the national workforce, but their participation in international trade is still low with only 14 percent involved in export activities. This research aims to analyze the challenges and opportunities faced by MSMEs in accessing the global market and identify adaptation strategies developed by entrepreneurs. A qualitative method with a phenomenological approach was applied through in-depth interviews with 18 export-oriented MSME owners and managers in East Java who were selected by purposive sampling. Thematic analysis using ATLAS.ti revealed seven main challenges including limited access to capital, complexity of export regulations, constraints on production capacity and quality consistency, language and cross-cultural communication barriers, lack of international market information, logistics infrastructure problems, and intensive competition. On the other hand, four strategic opportunities were identified, namely increasing demand for sustainable authentic products, accelerating digitalization and e-commerce, utilizing free trade agreements, and ethical consumerism trends. MSMEs develop effective adaptation strategies in the form of strategic collaboration, product differentiation with  premium positioning, the use of digital technology, and a focus on  specific market niches. The research emphasizes that the successful internationalization of MSMEs requires a holistic approach integrating internal capacity building with the support of a conducive external ecosystem.

This research evaluates the effectiveness of human capital development policies in Indonesia within the education and health sectors during the periods of 2015–2019 and 2020–2024. The analysis focuses on strategic programs implemented by the Ministry of Education and Culture and the Ministry of Health by comparing planned targets with the realization of performance indicators as stated in the Strategic Plan (Renstra) documents. The study employs a qualitative evaluative approach supported by descriptive quantitative data derived from official planning and performance reports. The findings indicate that during the 2015–2019 period, programs emphasizing the expansion of basic education and health services were relatively effective in increasing participation rates and improving equitable access. In contrast, programs aimed at enhancing the quality of human resources, particularly teacher development and institutional capacity building, showed lower levels of effectiveness due to weak performance measurement systems and inconsistent data reporting. During the 2020–2024 period, the effectiveness of most education and health programs declined significantly as a result of external shocks caused by the COVID-19 pandemic. However, health programs with strong financial protection mechanisms, such as the National Health Insurance (JKN), demonstrated greater resilience compared to other programs. The study concludes that the effectiveness of human capital development policies is strongly influenced by the clarity of performance indicators, consistency in program implementation, institutional capacity, and the ability of policies to adapt to external disruptions.

The growth of the digital economy in Indonesia has positioned Foreign Venture Capital Companies (FVCCs) as a fundamental pillar within the startup financing ecosystem. However, the legal landscape has undergone a significant transformation with the enactment of Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK Law). This regulation mandates that all financial services business actors, including foreign entities, obtain business licenses from the Financial Services Authority (Otoritas Jasa Keuangan/OJK). This study aims to analyze the legal implications of this licensing requirement on business certainty for foreign investors and to examine the normative inconsistencies between the Investment Law and the P2SK Law. This research employs a normative juridical method with a statutory approach and a conceptual approach. The findings reveal the existence of normative ambiguity (vagueness of norms) concerning the operational status of FVCCs utilizing offshore structures during the regulatory transition period, which is set to expire in January 2026. Such legal uncertainty has the potential to hinder the inflow of Foreign Direct Investment (FDI) if not promptly addressed through adaptive implementing regulations, such as the optimization of regulations governing Foreign Representative Offices. On the other hand, the licensing obligation enhances legal certainty by providing preventive legal protection for Business Partner Companies through contract standardization and integrated supervision. In conclusion, this study recommends cross-sectoral regulatory harmonization and the issuance of clear technical guidelines to ensure a balanced approach between prudential supervision and investment facilitation.

Company value is an important indicator that reflects company performance and investor perceptions of future business prospects and sustainability. Various strategic decisions made by management, such as capital intensity management, investment decisions, and tax aggressiveness policies, play a significant role in shaping company value. This study aims to examine and analyze the effect of capital intensity, investment decisions, and tax aggressiveness on company value through a literature review approach. The method used is a literature review by examining various relevant national and international scientific articles obtained from academic databases such as Google Scholar, Publish or Perish, and SINTA. The results of the study show that capital intensity has a positive effect on company value because it reflects long-term production capacity and operational efficiency. Investment decisions have also been proven to have a positive effect on company value because they signal management's optimism about future growth prospects. Meanwhile, tax aggressiveness can increase company value through tax savings and increased cash flow, but it has the potential to cause reputational and governance risks if done excessively. Overall, the reviewed literature shows that these three variables have an impact on company value, with the caveat that optimal and transparent management is necessary. This study is expected to serve as a reference for further research and as a consideration for company management and investors in making strategic decisions.

Tegal Regency is a region in Central Java Province. Geographically, Tegal Regency is situated on a highly advantaged path. This regency, with its capital in Slawi, boasts a diverse range of economic centers spread across several regions. Dominated by small and medium-sized industries, the community can be empowered and participate in improving their well-being through job creation. Small and Medium Industry centers are highly diverse. One area we highlight in this article is the potential of metal and machinery SMEs, which are crucial commodities in the local economy. The metal industry is located around Talang District. The metal and machinery sector holds significant promise due to the potential for increased manufacturing demand, which can boost the local economy. In this study, we used field research and interviews to understand how the SME economy operates. By highlighting this, we hope that the government will focus on SMEs, particularly in the metal and machinery sector, by providing incentives for training and improving product quality and human resources. Based on the above description, local economic growth is highly possible with the support of adequate facilities and infrastructure.

Regional government financial performance is a strategic indicator for assessing the success of regional autonomy implementation, particularly in managing public finances in an effective, efficient, transparent, and accountable manner. This study aims to analyze the financial performance of the Government of West Nusa Tenggara Province (NTB) during the 2018–2022 period using a regional financial ratio analysis approach. The research employs a descriptive quantitative method utilizing secondary data obtained from the Budget Realization Reports (LRA) and the Regional Government Financial Statements (LKPD) that have been audited by the Audit Board of the Republic of Indonesia (BPK). The analysis is conducted by calculating regional financial ratios, including the financial independence ratio, the effectiveness ratio of Regional Original Revenue (PAD), the efficiency ratio of regional finances, the activity ratio (expenditure harmony), and the revenue growth ratio. The results indicate that the financial performance of the Government of West Nusa Tenggara Province has generally improved. The regional financial independence ratio falls within the participatory category with an average value of 57.81%, reflecting a gradual reduction in dependence on central government transfer revenues, particularly in 2022. The effectiveness ratio of PAD is categorized as moderately effective, with an average of 92.84%, although it fluctuates due to increases in revenue targets that were not fully matched by actual revenue realization. The regional financial efficiency ratio consistently remains in the efficient category, indicating the local government’s ability to control expenditures relative to revenues. Furthermore, the activity ratio analysis shows a shift in expenditure composition from operating expenditure toward capital expenditure, indicating an increased orientation toward development and long-term investment. The growth ratio reveals a significant increase in PAD in 2022, accompanied by a decline in transfer revenue growth.

This study aims to measure the financial performance of the Government of West Java Province during the 2020–2024 period based on the analysis of the audited Budget Realization Reports. The research uses a descriptive quantitative approach with secondary data obtained from the Regional Financial Statements. Financial performance is measured through several ratios, namely the effectiveness ratio of Regional Original Revenue, regional financial efficiency ratio, regional financial independence ratio, and expenditure harmony ratio. The results show that the effectiveness of Regional Original Revenue fluctuated, with effective performance only in 2022 and 2024, while in other years it was categorized as ineffective. The efficiency ratio also indicated inconsistency, where inefficiency occurred in 2020, 2021, and 2023, and efficiency was achieved in 2022 and 2024. The regional financial independence ratio showed a relatively high level, reflecting low dependence on central government transfers, although there was a slight decline in 2023–2024. The expenditure harmony ratio indicated that budget allocation was still dominated by operational expenditure compared to capital expenditure. The findings imply the need for improving revenue optimization and more balanced expenditure allocation to support sustainable regional development.