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This study aims to assess the financial performance of 11 non-financial companies that conducted acquisitions in 2025 and are listed on the Indonesia Stock Exchange (IDX). Using a quantitative descriptive-comparative approach with a case study design, six financial ratios were analyzed: Current Ratio (CR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO), Return on Assets (ROA), and Return on Equity (ROE). Data were obtained from consolidated financial statements as of December 31, 2024 (pre-acquisition) and December 31, 2025 (post-acquisition). The results show that the impact of acquisitions varies across companies. No consistent or significant differences were found in the CR, DAR, DER, ROA, or ROE ratios between the two periods. Meanwhile, the TATO ratio tended to decrease after the acquisition, indicating that the newly consolidated assets have not yet operated optimally. These findings confirm that the short-term financial impact of an acquisition is heavily influenced by the transaction’s funding structure, the size of the acquired entity, and the industry sector. This study contributes to the financial accounting literature on corporate acquisition strategies in the Indonesian capital market.

The fishermen's community in Tapak Village, Tugurejo Subdistrict, Semarang faces persistent economic vulnerability driven by fluctuating income, low financial literacy, and exposure to illegal online lending and digital financial fraud. This community service program aimed to strengthen the economic resilience of fishermen's families through participatory financial literacy education. Using a participatory-interactive approach involving coastal community members, the program delivered comprehensive financial literacy training tailored to the needs of coastal communities. Program effectiveness was measured through pre-test and post-test instruments. Results showed significant improvements in participants' understanding of cash flow recording, ability to differentiate needs from wants, household budget planning, and capacity to identify illegal online lending characteristics. This program confirms that context-based participatory education is effective in enhancing the financial capacity and resilience of coastal communities.

LAMPUKITA merupakan salah satu UMKM VCO di Kabupaten Fakfak. Hasil dari pembuatan VCO usaha tersebut,  menghasilkan blondo yang selanjutnya diolah menjadi minyak goreng.  Berdasarkan aspek pemasaran,VCO LAMPUKITA memiliki prospek yang baik. Namun, ketersediaan bahan baku kelapa yang memenuhi syarat pembuatan produk utama, jumlahnya terkadang tidak tersedia.  Penelitian sebelumnya fokus pada teknik ekstraksi VCO, masih sedikit membahas strategi bisnis spesifik untuk minyak goreng hasil blondo ditingkat UMKM dengan kendala bahan baku.  Tanpa strategi pengembangan yang tepat, LAMPUKITA akan sulit bertahan secara finansial meskipun produknya memiliki nilai gizi lebih unggul. Tujuan penelitian untuk mengidentifikasi kekuatan, kelemahan, peluang dan ancaman,  menentukan faktor internal, eksternal strategi terbaik dan model pengembangan bisnis baru yang dapat diterapkan LAMPUKITA. Penentuan lokasi secara purposive. Jenis data yaitu data primer dan data sekunder.  Teknik pengumpulan data yaitu observasi, wawancara dan dokumentasi.  Analisis data yang digunakan adalah deskriptif kualitatif (analisis SWOT dan BMC) dan kuantitatif (metode IFAS, EFAS dan QSPM).  Hasil analisis SWOT menunjukkan bahwa kekuatan utama usaha LAMPUKITA terletak pada keunggulan produk alami, pemanfaatan blondo VCO, serta cita rasa khas kelapa Fakfak. Kelemahan utamanya adalah keterbatasan ketersediaan kelapa yang memenuhi standar VCO, kapasitas produksi masih kecil, dan keterbatasan modal. Analisis IFAS dan EFAS menunjukkan LAMPUKITA berada pada kondisi cukup mendukung untuk dikembangkan secara internal dan eksternal. Keberlanjutan usaha ditentukan oleh manajemen rantai pasok  kelapa. Strategi paling tepat dikembangkan adalah strategi kemitraan dengan petani kelapa berbasis standar VCO.  LAMPUKITA dapat menerapkan berbagai model bisnis baru untuk menanggulangi keterbatasan bahan baku.

The development of digital governance has accelerated the transformation of public financial management through e-budgeting, e-reporting, and integrated digital financial systems. However, studies discussing digital public financial management in cross-border areas remain fragmented and dispersed across disciplines. This study aims to systematically map the development of research on digital public financial management in cross-border contexts through publication trends, influential journals, active researchers, keyword patterns, countries, institutions, and research areas. This research employed a qualitative approach using a Systematic Literature Review (SLR) and bibliometric analysis based on 48 Scopus-indexed articles published between 2020 and 2026. The findings indicate that publications increased significantly after 2023, reflecting growing scholarly interest in cross-border digital finance and governance. The literature is dominated by economics and finance perspectives, while public financial governance and fiscal accountability in border areas remain underexplored. In addition, knowledge production is still concentrated in a limited number of countries and institutions, particularly in Europe. This study contributes by providing an intellectual mapping of the field and identifying opportunities for future research integrating digital governance, public financial management, and border studies.

Filsafat dan etika bisnis memiliki peran penting dalam mengarahkan korporasi untuk bertindak dengan mempertimbangkan dampak sosial dan lingkungan dari keputusan bisnis yang diambil. Dalam konteks global yang terus berkembang, perusahaan-perusahaan dihadapkan pada tantangan besar untuk tidak hanya mengejar keuntungan finansial, tetapi juga untuk memenuhi tanggung jawab sosial mereka. Namun, ketidaksesuaian antara tanggung jawab sosial dan praktik korporasi yang terjadi dalam banyak kasus, mengindikasikan adanya celah dalam pemahaman dan penerapan etika bisnis yang efektif (Carroll, 2020). Tujuan dari penelitian ini adalah untuk mengkaji sejauh mana filosofi etika bisnis dapat berperan dalam menyelaraskan tanggung jawab sosial dengan praktik korporasi, serta mengeksplorasi model-model yang dapat diadopsi oleh perusahaan untuk menjembatani ketimpangan tersebut. Penelitian ini menggunakan pendekatan kualitatif dengan analisis literatur dan studi kasus sebagai metodologi. Hasil dari penelitian ini diharapkan dapat memberikan kontribusi bagi pengembangan teori etika bisnis yang lebih aplikatif dalam dunia korporasi, dengan menekankan pentingnya integrasi nilai-nilai sosial dalam strategi bisnis jangka panjang.

A feasibility study is a critical stage in the planning of hospital establishment to ensure investment viability, particularly from a financial perspective. This community service program aims to provide reinforcement in the preparation of a feasibility study for the establishment of a Regional Public Hospital (RSUD) in Barukan Village, Tengaran District, Semarang Regency, through financial feasibility analysis conducted by financial experts. The implementation method was carried out through partner needs identification, delivery of financial analysis materials, interactive discussions, and assistance in developing financial models encompassing cash flow projections, discounted payback period (DPP), net present value (NPV), internal rate of return (IRR), and sensitivity analysis, all of which yielded feasible and acceptable results. The outcomes of the activity demonstrated an improvement in partners' understanding of financial feasibility analysis as well as their ability to interpret investment assessment criteria. In addition, the activity yielded an early-stage draft encompassing the financial feasibility aspects, which is intended to guide stakeholders in making informed decisions related to the founding of the Semarang Regency Regional Public Hospital. This activity contributes to strengthening the planning of healthcare facility investment in an effective and sustainable manner.

his study examines the concept of sustainable business development through the lens of Islamic economics, focusing on the integration of three core dimensions: financial profit (profit), social empowerment (people), and environmental stewardship (planet). The urgency of this research is driven by the global environmental crisis and social inequality, which demand business models that pursue long-term welfare rather than merely short-term gains. Using a qualitative approach through a systematic literature review, this research analyzes how Islamic economic principles—including tawhid, justice ('adl), and the responsibility of khalifah—align with and reinforce the Sustainable Development Goals (SDGs). The findings indicate that the Profit-People-Planet framework is not only compatible with Islamic teachings but is deeply embedded in Islamic economic ethics and the maqashid al-shariah framework. Instruments such as zakat, waqf, and Islamic financing serve as practical mechanisms that simultaneously support halal profit generation, enhance community welfare distributively, and ensure environmental protection through the principle of hifz al-bi’ah. This study concludes that Islamic economics offers a holistic, ethical, and value-based framework for building sustainable businesses that are profitable, socially responsible, and environmentally conscious in the modern era.

This study aims to analyze the regulatory characteristics of the Regulation of the Minister of Home Affairs Number 77 of 2020 as a technical guideline for regional financial management, particularly in examining the tension between its normative nature and mandatory provisions, as well as their implications for regional financial governance. The research employs a normative juridical approach, utilizing both statute and conceptual approaches, complemented by a critical analysis of the regulation’s implementation. The findings indicate that, formally, Regulation No. 77 of 2020 is normative in nature as a guideline; however, in practice, it contains numerous mandatory provisions that bind local governments. These mandatory elements have been shown to enhance accountability and transparency through the standardization of procedures, reporting obligations, and strict supervisory mechanisms. On the other hand, the dominance of detailed rules tends to create policy rigidity, increase administrative burdens, and reduce the flexibility and discretion of local governments in adapting policies to local needs. Furthermore, the study identifies a phenomenon of formalistic or ritualistic compliance, which risks producing symbolic accountability without improving the quality of public services. The effectiveness of the regulation’s implementation is also influenced by disparities in human resource capacity, information systems, and regional fiscal capabilities. Therefore, a balance between mandatory approaches and normative flexibility is necessary to ensure that regional financial governance operates effectively, adaptively, and in accordance with the principles of good governance.

Penelitian ini bertujuan untuk menganalisis pengaruh literasi keuangan dan gaya hidup terhadap pengelolaan keuangan mahasiswa STIEPARI Semarang asal Nias. Menggunakan pendekatan kuantitatif eksplanatori, data dikumpulkan dari 100 responden yang dipilih melalui teknik simple random sampling dari populasi 134 mahasiswa aktif asal Nias menggunakan rumus Slovin. Pengumpulan data dilakukan selama periode Januari hingga Februari 2026 melalui kuesioner terstruktur berskala Likert dan dianalisis menggunakan regresi linear berganda melalui perangkat lunak SPSS versi 26. Hasil penelitian menunjukkan bahwa secara parsial literasi keuangan berpengaruh positif dan signifikan, sedangkan gaya hidup berpengaruh negatif dan signifikan terhadap pengelolaan keuangan. Secara simultan, kedua variabel berpengaruh signifikan dan koefisien determinasi (R²) sebesar 0,582, yang menunjukkan bahwa 58,2% variasi pengelolaan keuangan mahasiswa dapat dijelaskan oleh literasi keuangan dan gaya hidup. Temuan ini mengimplikasikan pentingnya penguatan literasi finansial yang diimbangi dengan pembentukan lingkungan yang mendukung gaya hidup produktif bagi mahasiswa perantau.

This study was conducted to evaluate the impact of financial performance, capital structure, and good corporate governance on entities. The approach used is quantitative with a causal associative method. The research observations utilize secondary data sourced from the financial statements of entities listed on the stock exchange during the 2020–2023 period. The research sample was determined using a purposive sampling technique based on predefined criteria, totaling 160 observations. The analytical method employed is multiple linear regression, preceded by classical assumption tests. The results reveal that financial performance and good corporate governance have a positive and significant effect on the quality of financial statements, while capital structure has a significant negative effect. Simultaneously, the three independent variables are proven to significantly affect the quality of financial statements, with a coefficient of determination of 68%. These findings support agency theory and signaling theory in explaining the financial reporting behavior of entities. The implications of this study indicate that improving financial performance and implementing good corporate governance can enhance the quality of financial statements. Furthermore, optimal management of capital structure is also necessary to reduce the risk of financial statement manipulation.

This study aims to analyze the comparison of the impact of financial and non-financial compensation effectiveness on turnover intention among Generation Z employees. The high turnover rates within Generation Z, despite receiving adequate financial compensation, indicate a shift in their preferences regarding the workforce. Generation Z tends to seek more than just financial compensation, such as flexibility, a supportive work environment, and opportunities for growth. The method used in this study is a literature review, analyzing various relevant scholarly journals related to strategic compensation, Generation Z characteristics, and turnover intention. The research findings show that non-financial compensation has a more significant impact in reducing turnover intention among Generation Z compared to financial compensation. Therefore, companies need to focus on aspects such as work-life balance, career development opportunities, and an inclusive and supportive work culture. These findings provide valuable insights that companies should adopt a more holistic reward approach through the total rewards concept, which includes both financial and non-financial compensation, in order to enhance loyalty and retention of Generation Z employees in the long term.

Transformasi digital dalam sistem transaksi ekonomi telah menggeser pola konsumsi masyarakat menuju penggunaan layanan finansial berbasis teknologi yang lebih instan, namun di sisi lain berpotensi memicu perilaku belanja yang tidak rasional. Fenomena ini tampak pada pesatnya adopsi fitur Buy Now Pay Later (BNPL) yang menawarkan fleksibilitas pembayaran tanpa agunan. Penelitian ini bertujuan untuk mengetahui pengaruh penggunaan sistem pembayaran Shopee PayLater terhadap perilaku konsumtif mahasiswa STIE Yapis Dompu. Shopee PayLater merupakan inovasi layanan keuangan digital yang memberikan kemudahan transaksi dengan kalangan mahasiswa. Penelitian ini menggunakan pendekatan kuantitatif dengan jenis penelitian asosiatif. Data diperoleh melalui kuesioner kepada 94 responden yang dipilih menggunakan teknik purposive sampling. Analisis data menggunakan regresi linear sederhana dengan bantuan SPSS. Hasil penelitian menunjukkan bahwa penggunaan Shopee PayLater berpengaruh positif dan signifikan terhadap perilaku konsumtif mahasiswa. Hal ini dibuktikan dengan nilai signifikansi 0,000 < 0,05 serta koefisien determinasi sebesar 55,2%, yang menunjukkan kontribusi variabel penggunaan Shopee PayLater terhadap konsumtif mahasiswa. Dapat disimpulkan bahwa semakin tinggi penggunaan Shopee PayLater, maka semakin tinggi pula perilaku konsumtif mahasiswa STIE Yapis Dompu.

This study examines the influence of peer groups on impulsive buying, with financial anxiety as a mediator among college students using e-commerce or social media in Paser Regency. A quantitative cross-sectional design was employed and analysed using PLS-SEM with SmartPLS. The sample consisted of 282 active students selected through purposive sampling. Three reflective constructs were measured using a 5-point Likert scale: peer influence (8 items), financial anxiety (8 items), and impulsive buying (9 items). The measurement model assessment confirmed adequate convergent and discriminant validity (AVE = 0.545–0.715; Cronbach’s alpha = 0.883–0.954; Composite Reliability = 0.905–0.957; HTMT < 0.25). The structural model results showed that H1 was supported, indicating that peer influence had a significant positive effect on financial anxiety (β = 0.252; T = 4.036; p < 0.001). However, H2 was not supported, as financial anxiety had no significant effect on impulsive buying (β = 0.069; T = 0.815; p = 0.415). H3 was also not supported, showing that peer influence had no significant direct effect on impulsive buying (β = −0.007; T = 0.076; p = 0.939). Furthermore, H4 was not supported, indicating that financial anxiety did not mediate the influence of peer groups on impulsive buying (indirect effect = 0.017). These findings suggest that, in the context of students in remote areas, the hypothesised SOR mechanism does not operate fully: peer pressure triggers financial anxiety, but this anxiety does not translate into impulsive buying.

Low financial literacy among students, particularly in Islamic boarding schools, poses a challenge in fostering early economic independence. At Pondok Pesantren NW Montong Lisung, students generally lack the ability to manage pocket money, maintain financial records, and develop saving habits. This condition underlies the implementation of a community service program aimed at building smart financial habits through financial management education. The method employed a participatory approach consisting of counseling, training, and mentoring stages. Evaluation was conducted using pre-test and post-test, observation, and assessment of students’ financial record practices. The results showed a significant improvement in students’ financial literacy, increasing from an average of 42.5% to 79.5%, along with positive behavioral changes such as increased saving habits and better expense control. These findings indicate that financial management education is effective in improving students’ financial understanding and skills. Therefore, this program is important to be implemented sustainably to support the development of students’ economic independence in the future.

Children in Tambak Osowilangun Village have high access to digital technology, but their digital financial literacy remains very low. Technology is generally used only for entertainment and social media without an understanding of its economic value. This condition is exacerbated by limited supervision from parents, the majority of whom work in the industrial sector, leaving children vulnerable to uncontrolled consumer behavior online. This community service activity aims to equip children in Tambak Osowilangun Village with a basic understanding of modern economics. The main focus is to improve their ability to manage their finances wisely, introduce the concept of digital savings, and develop critical thinking skills so they can distinguish between needs and wants in the technology era. The program uses the Participatory Action Research (PAR) method, which involves the active participation of children through a spiral of stages: planning, action, observation, and reflection. Data was collected through participant observation to monitor the learning dynamics of participants during the educational sessions. The implementation of the activity showed a significant increase in participants' financial understanding. Children became more aware of the risks of digital fraud and began to understand how financial applications work. Through interactive discussion sessions, high enthusiasm was generated, shifting the children's mindset from mere entertainment users to financially savvy technology users. The synergy between students and the community has succeeded in fostering a disciplined and responsible economic character in the young generation in the village.

Penelitian ini mengeksplorasi fenomena kecurangan pada PT Dana Syariah Indonesia (DSI) melalui pisau analisis Fraud Triangle milik Donald R. Cressey (1953). Fenomena penyimpangan di PT Dana Syariah Indonesia (DSI) tercatat sebagai skandal keuangan paling masif pada sektor P2P lending berbasis syariah di tanah air. Sepanjang tahun 2018 hingga 2025, kerugian finansial yang ditimbulkan diestimasi menyentuh Rp2,4 triliun dengan total korban mencapai lebih dari 15.000 pemberi dana. Penelitian ini menggunakan metode kualitatif deskriptif dengan pendekatan studi kasus. Data dikumpulkan melalui studi dokumentasi dari berbagai sumber, meliputi laporan resmi OJK, siaran pers Bareskrim Polri, temuan PPATK, serta publikasi berita terverifikasi. Hasil penelitian menunjukkan bahwa ketiga elemen Fraud Triangle terbukti hadir dalam kasus DSI: (1) Tekanan (pressure) berupa kebutuhan likuiditas internal dan target imbal hasil tinggi 16–18% per tahun yang tidak realistis; (2) Kesempatan (opportunity) berupa lemahnya pengawasan OJK terhadap fintech syariah, ketiadaan audit independen yang efektif, dan eksploitasi kepercayaan berbasis label syariah; serta (3) Rasionalisasi (rationalization) berupa pembenaran pelaku dengan menggunakan argumen ekonomi makro dan penyalahgunaan nilai-nilai syariah sebagai perisai. Penelitian ini juga mengintegrasikan perspektif akuntansi forensik sebagai alat deteksi dan pencegahan fraud. Temuan penelitian ini diharapkan menjadi kontribusi ilmiah bagi penguatan regulasi, pengawasan fintech syariah, serta literasi keuangan masyarakat.

Penelitian ini mengkaji sinergi antara inovasi produk dan strategi pemasaran dalam memperkuat daya saing global PT Astra International Tbk. Dalam Menghadapi kompetisi pasar yang kian ketat di era globalisasi dan revolusi industri 4.0, perusahaan dituntut mampu menghadirkan produk inovatif sekaligus menyesuaikan strategi pemasarannya dengan kebutuhan dan preferensi konsumen internasional. Metode penelitian yang digunakan adalah studi literatur, dengan analisis sumber sekunder berupa jurnal, buku, dan artikel lima tahun terakhir. Hasil penelitian menunjukkan bahwa inovasi produk meningkatkan nilai tambah, loyalitas konsumen, dan efisiensi operasional melalui pemanfaatan teknologi digital, sedangkan strategi pemasaran yang adaptif dan berbasis digital mempermudah penetrasi pasar global serta memperkuat citra merek. Kombinasi kedua aspek ini berkontribusi pada kinerja finansial yang stabil, diversifikasi lintas sektor, dan kemampuan perusahaan menghadapi disrupsi teknologi, sehingga menjadikan PT Astra International Tbk kompetitif dan tangguh di pasar internasional.

Penelitian ini mengkaji transformasi strategis manajemen risiko finansial melalui penerapan Digital Twins (DT) dengan pendekatan Systematic Literature Review (SLR). DT berevolusi dari sekadar model manufaktur menjadi sistem cerdas yang mampu memprediksi perilaku entitas finansial secara real-time. Hasil kajian menunjukkan bahwa DT mendukung kerangka Prevention, Preparedness, Response, Recovery (PPRR), memperkuat resiliensi rantai pasok, serta meningkatkan efektivitas stress testing perbankan sesuai regulasi Basel III. Selain itu, DT berperan dalam deteksi penipuan, akuntansi karbon, dan simulasi kebijakan makroekonomi. Studi ini menegaskan bahwa DT mampu meningkatkan akurasi prediksi risiko hingga 95% dan mengurangi downtime operasional sebesar 20%. Namun, keterbatasan standar global, integrasi data lintas sistem, serta hambatan regulasi masih menjadi tantangan utama. Agenda riset masa depan diarahkan pada pengembangan interoperabilitas global, integrasi teknologi AI, serta evaluasi ROI jangka panjang untuk memperkuat ketahanan finansial berbasis DT.

This study examine the reflection of Native american economic conditions in the 1990s as potrayed in Sherman alexie’s short story This is What It Means to say Phoenix, Arizona. As literary works often reflect social realities, this study focuses on economic struggles are represented through the experiences of the main characters, Victor and Thomas. The research employs a qualitative method with a sociology of literature approach using a Marxist perspective. The data are analyzed through a narrative examination of key events and character experiences related to economic conditions. The findings reveal tha the short story reflects persistent economic issues such as poverty, unemployment, and limited access to finansial resources, whic are rooted in historical inequality and structural marginalization. These conditions, as experienced by the characters, represent broader socio-economic realities faced by native American communities living in reservations. Therefore, this study highlights tha literary works funcition not only as artistic expressions but also as representations of social and economic realities, particulalry those of marginalized groups.

Rapid developments related to technology are spreading rapidly in human life. The rapid development of this technology definitely brings positive and negative currents in its application. The higher the development, the greater the opportunity for negative impacts for irresponsible people. The utilization of technological developments in the financial sector is considered to greatly facilitate a person in carrying out economic activities. Armed with just one application, someone can make banking transfers, investments and their utilization in other economic activities. However, along with the ease and effectiveness of digital finance, there are also digital crimes that can harm many people in the banking world such as physing, malware, ransomware and so on. This type of research is a normative juridical research that focuses on laws and regulations to provide legal reformulation related to digital financial security finance to strengthen the defense of financial system protection in the digital sector which is very much needed in this increasingly sophisticated modern era.