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Analytics

Maiz Wachid Anshorie; Anik Farida; Ela Nurlaela; Abdul Azis; Syaeful Bahri

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

This study examines the determinants of the Jakarta Composite Index (JCI) based on three main macroeconomic factors namely inflation, the USD/IDR exchange rate, and the SBI interest rate (BI Rate) covering the period January 2020 to December 2025, in the context of post-COVID-19 pandemic recovery and global economic turmoil. A quantitative approach was employed using the Ordinary Least Squares (OLS) method, with 72 monthly observations derived from secondary data sourced from official institutions including Bank Indonesia (BI), the Central Statistics Agency (BPS), the Indonesia Stock Exchange (IDX), and the Financial Services Authority (OJK). Classical assumption tests were applied comprising the Jarque-Bera normality test, Variance Inflation Factor (VIF) for multicollinearity, Breusch-Godfrey for autocorrelation, White Test for heteroscedasticity, and Ramsey RESET for model specification. Partially, inflation, exchange rate, and BI Rate each demonstrate a positive and significant effect on the JCI (p < 0.05). Simultaneously, all three variables exert a significant combined influence on the JCI, with a coefficient of determination R² = 0.4414, indicating that the model explains 44.14% of the variation in the JCI. The remaining 55.86% is attributed to other variables outside the model. Classical assumption test results reveal violations of normality, autocorrelation, and heteroscedasticity assumptions, although the model is free from multicollinearity. These findings confirm that Bank Indonesia's monetary policy has a significant and measurable impact on capital market performance. Further research is recommended using more advanced time series models such as GARCH or VECM to address violations of classical assumptions and improve estimation efficiency.

Qoniatunnimah Qoniatunnimah; Difa Rose Meilia; Sawaldi Waskito Aji; Anik Widiastuti

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

The development of Indonesia’s traditional cuisine faces significant hurdles as shifting consumer preferences increasingly favor modern food options. This trend necessitates innovative approaches to ensure local culinary heritage remains competitive. This study examines the role of sociopreneurship as an innovation strategy at Ingkung Djawa Waroeng Ndesso. Utilizing a descriptive qualitative design, the research gathered insights from the business owner and employees selected via purposive sampling. Data collection involved interviews, observations, and documentation, with validity ensured through source triangulation. The analysis followed the Miles and Huberman model, encompassing data reduction, presentation, and conclusion drawing. Findings reveal that implementing sociopreneurship effectively integrates economic and social objectives by preserving authentic recipes, empowering local communities, and generating employment. Key innovations include diversifying product offerings while maintaining authenticity and leveraging social media for strategic marketing. These results demonstrate that social entrepreneurship serves as a powerful mechanism for enhancing business competitiveness while safeguarding cultural sustainability. The study implies that traditional culinary development can be successfully managed through a sociopreneurial framework, allowing for modern innovation without compromising core cultural values. Consequently, this model offers a sustainable pathway for traditional businesses to thrive amidst the challenges of contemporary market globalization.

Anita Cerahma Siregar; Siti Nur Hasanah; Hayathun Maira; Reva Kirana Putri; Khairul Ikhsan Absy +1 more

Jurnal Pengabdian kepada Masyarakat 2026 Pusat Riset dan Inovasi Nasional

This Community Service Program (Kuliah Kerja Nyata/KKN) aimed to empower housewives through environmentally friendly dishwashing liquid production training in Kuta Parit Village, Selesai Subdistrict, Langkat Regency, responding to limited female participation in productive economic activities and increasing demand for safe household cleaning products. The program sought to enhance skills, knowledge, and economic independence among women while promoting health and environmental sustainability. A descriptive qualitative approach was applied, using observation, informal interviews, and documentation conducted during program implementation. Activity stages included education on eco-friendly soap concepts, introduction to materials and their functions, demonstrations of the production process, and hands-on practice sessions involving participants directly. KKN students served as facilitators and mentors, ensuring participants comprehended each step and were able to replicate the process independently. The results indicated that housewives successfully produced liquid dishwashing soap suitable for daily household use with acceptable quality. Beyond technical skill improvement, the program stimulated entrepreneurial motivation, strengthened confidence, and created opportunities for developing home-based microenterprises using eco-friendly products. Overall, this KKN activity contributed positively to women’s economic empowerment while supporting cleaner living practices within the community.

Nuralisa Nuralisa; Anwar Ramli; Anwar Anwar; Nurman Nurman; Abdul Rahman

Jurnal Manajemen dan Ekonomi Bisnis 2026 Pusat Riset dan Inovasi Nasional

This research focuses on examining the relationship between environmental accounting practices and firm value creation, considering the role of profitability as an intermediary mechanism. The study was conducted on companies in the basic and chemical industry subsectors listed on the Indonesia Stock Exchange during the 2020–2024 period. Green Accounting in this study is represented through environmental cost disclosure, while firm value is proxied by Price to Book Value (PBV), and profitability is measured by Return on Equity (ROE). The analysis used a panel data regression approach, complemented by a mediation test using the Sobel test. Empirical results indicate that the implementation of Green Accounting has not had a significant impact on profitability or firm value. Conversely, profitability has been shown to have a positive and significant relationship with firm value. Furthermore, the mediation test indicates that profitability plays no role in channeling the influence of Green Accounting on firm value. These findings lead to the interpretation that Green Accounting practices in the studied sectors still reflect regulatory compliance and efforts to gain social legitimacy rather than a strategy to increase short-term economic value.

Andi Isra’ Amalia; Sri Astuty; Abdul Rajab; Muhammad Syafri; Irwandi Irwandi

2026 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

This study investigates the factors influencing export performance in five ASEAN countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand during the 2014-2023 period. The topic is highly relevant given the vital role of exports in sustaining monetary stability and promoting long-term economic growth. The novelty of this research lies in its integrated approach, which simultaneously examines key export-related macroeconomic variables, namely foreign direct investment and inflation, while incorporating foreign exchange reserves as a moderating variable an approach that remains limited in existing ASEAN-focused studies. This analysis uses secondary data obtained from the World Bank and processed using panel data regression methods, including the Common Effect Model, Fixed Effect Model, and Random Effect Model, strengthened by a Moderated Regression Analysis (MRA) approach. The results show that foreign direct investment and inflation significantly influence foreign exchange reserves. Furthermore, foreign exchange reserves have been shown to play a strategic role in strengthening the economic resilience of ASEAN countries and can be used as a reference in formulating monetary and international trade policies.

Peter Peter; Herlina Herlina; Amisiska Natalia Saragi

International Journal of Management Science and Entrepreneurship 2026 International Forum of Researchers and Lecturers

Financial management plays a crucial role in individual financial planning, particularly in the context of increasingly unstable macroeconomic conditions. Effective financial management behavior enables individuals to allocate resources wisely, manage risks, and achieve financial sustainability in the long term. Therefore, identifying the key factors that influence financial management behavior is essential. This study aims to analyze the effect of income and financial literacy on financial management behavior (FMB). The population of this study consists of teachers and administrative employees aged 24 to 60 years from two educational institutions located in Bandar Lampung and Metro. Using a snowball sampling technique, a total of 93 respondents were obtained. Data were collected through an online survey questionnaire designed to measure income level, financial literacy, and financial management behavior. The collected data were then analyzed using a multiple regression model to test the proposed hypotheses. The results of the analysis indicate that both income and financial literacy have a positive and significant effect on financial management behavior. Individuals with higher income levels tend to demonstrate better financial management practices, while greater financial literacy enhances individuals’ ability to plan, control, and make informed financial decisions. These findings highlight the importance of improving financial literacy and income management skills to strengthen financial management behavior, particularly among educators and educational staff.

Eko Siswanto; Danang Danang; Ismi Kusumaningroem; Ilham Akhsani

Indonesian Journal of Infomatics 2026 Asosiasi Pengelola Jurnal Informatika dan Komputer Indonesia

Cloud native architectures are essential for modern software systems due to their ability to handle dynamic environments, scalability, and high availability. However, ensuring resilience in these systems remains a significant challenge, particularly under varying operational conditions such as high-load periods and failure scenarios. This study aims to assess the resilience of cloud native architectures using quantitative metrics that objectively evaluate key attributes such as availability, fault tolerance, recovery time, and scalability. Through the application of these metrics, the study identifies the strengths and weaknesses of the architecture, providing insights into how the system performs under stress and recovers from failures. The results show that while the architecture demonstrates strong availability and scalability under typical conditions, recovery time and scalability under extreme load conditions reveal areas for improvement. Specifically, issues with resource allocation and self-healing capabilities were identified as key weaknesses affecting the overall resilience of the system. These findings highlight the importance of using data-driven metrics to gain detailed insights into system resilience and to guide architectural improvements. The study also emphasizes the need for continuous monitoring and adaptation of the architecture to optimize fault tolerance and recovery processes. The implications of this research extend to cloud application developers and architects, offering actionable recommendations for improving system resilience. Future research could focus on integrating real-time monitoring systems, developing more advanced resilience metrics, and incorporating AI-driven scaling techniques to further enhance the adaptability and robustness of cloud native systems. By addressing these challenges, cloud native architectures can be better equipped to maintain high performance and reliability in dynamic, real-world environments.

Ni Kadek Ari Ayuningsih; Made Gede Wirakusuma

International Journal of Economic, Social and Development Sciences 2025 International Forum of Researchers and Lecturers

This study aims to examine the relationship between Corporate Social Responsibility (CSR) disclosure and profitability with firm value. The research was conducted on companies in the oil, gas, and coal sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The independent variables in this study are corporate social responsibility disclosure and profitability, while firm size is employed as a control variable. Firm value is proxied by Price to Book Value (PBV), whereas profitability is measured using Return on Equity (ROE). This study is grounded in Stakeholder Theory and Signaling Theory to explain the relationships among the variables. The sample was determined using purposive sampling, resulting in 29 companies. The data analysis techniques applied include Pearson correlation analysis and multiple linear regression to examine both the simple relationships and the effects of corporate social responsibility disclosure and profitability on firm value. The results indicate that corporate social responsibility disclosure has a negative relationship with firm value, while profitability shows a positive and significant relationship with firm value.

Hadraji Mufti Abizar Al Ghiffari; Refika Cyntia Sari; M. Fachriansyah

International Journal of Economic, Social and Development Sciences 2025 International Forum of Researchers and Lecturers

This study investigates Indonesia’s long-term economic transformation across four pivotal eras: the colonial period, the Old Order, the New Order, and the Reformasi era. Employing a descriptive qualitative design with historical analysis, the research elucidates how political transitions, institutional reforms, and global dynamics have interacted to shape the nation's economic architecture. Results indicate that colonial legacies entrenched deep structural inequalities and a dualistic economy, creating a path dependency that continued to influence policy direction after independence. During the Old Order, efforts to assert economic sovereignty were constrained by macroeconomic instability, limited state capacity, and shifting political coalitions. The New Order marked a turning point toward industrialization, macroeconomic stabilization, and openness to foreign investment, generating high growth but also deepening inequality and dependence on external capital. Entering the Reformasi era, decentralization, democratization of governance, and fiscal transparency reshaped institutional frameworks; however, persistent challenges such as regional disparities, productivity gaps, and vulnerability to global shocks remain evident. The study concludes that Indonesia’s economic evolution is non-linear, shaped by historical constraints and gradual institutional adaptation rather than abrupt shifts. Strengthening governance, enhancing domestic industrial competitiveness, and expanding inclusive development policies are essential strategies for supporting long-term resilience. These findings highlight the importance of continuity in policy reform to achieve sustainable growth and to realize the national vision of Indonesia Emas 2045.

Rahmadani, Nabila; Yulazri

Jurnal Ilmiah Komputerisasi Akuntansi 2025 Universitas Sains dan Teknologi Komputer

This study aims to analyze the effect of sustainability report disclosure, audit committee meeting frequency, liquidity, leverage, and total asset turnover on profitability in mining companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. Profitability is measured using Return on Equity (ROE). This research adopts a quantitative approach using secondary data obtained from annual financial statements and sustainability reports. The sample was selected using purposive sampling, yielding 34 mining companies with 102 observations in total. Multiple linear regression analysis was employed after fulfilling classical assumption tests. The results indicate that sustainability report disclosure, audit committee meetings, liquidity, leverage, and total asset turnover simultaneously have a significant effect on profitability. However, partially, total asset turnover has a positive and significant impact on profitability. Meanwhile, sustainability report disclosure, audit committee meeting frequency, liquidity, and leverage do not significantly affect profitability. These findings suggest that asset utilization efficiency plays a crucial role in improving profitability in the mining sector. This study is expected to provide insights for companies, investors, and regulators to understand the determinants of profitability better and to support improved corporate governance and financial decision-making in mining companies.

Maulita, Erika; Nyale, M Hendri Yan

Jurnal Ilmiah Komputerisasi Akuntansi 2025 Universitas Sains dan Teknologi Komputer

In the investment world, stock returns are the leading indicator of a company’s performance and the basis for investor decision-making in the capital market. Fluctuations in stock returns reflect market expectations of the company’s prospects. The retail sector in Indonesia is facing significant pressure from post-pandemic shifts in consumer behavior and increased competition. This study aims to analyze the effect of financial distress, company size, liquidity, operating cash flow, and accounting profit on stock returns in retail sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2021 to 2023. This type of research is causally associated with a quantitative approach. The data used is secondary, in the form of financial statements from retail companies. The sampling technique used was purposive, yielding a total of 39 data points from 13 retail companies. Data testing was carried out using SPSS version 24. The results showed that partially, the variables of financial distress, company size, liquidity, and accounting profit had no significant effect on stock returns. Meanwhile, operating cash flow positively impacts stock returns. These findings indicate that fundamental indicators are not always the main determinants of stock returns. Therefore, investors are advised also to consider external factors such as market sentiment, macroeconomic conditions, and government policies that may have a greater influence on stock performance in the capital market.

Nanang Abdillah; Ria Resti Fauziah; Ary Rachman; Naungi Atkin Insan Agamis; Moch Yogie Firmansah +6 more

Kolaborasi : Jurnal Hasil Kegiatan Kolaborasi Pengabdian Masyarakat 2025 Asosiasi Riset Ilmu Matematika dan Sains Indonesia

This research examines the mentoring of nationalistic activities by students from the Al-Azhar Menganti Gresik Institute and field supervisors at MI Darunnajah Lebani Suko, Wringinanom District, Gresik Regency, in commemoration of Heroes' Day. Thru a descriptive qualitative approach, this program involves four main activities: the red and white parade, patriotic love songs, little warrior strokes (coloring and writing hero stories), and a colossal drama of patriotic fervor. These activities are creatively designed and based on direct experience to instill nationalistic values in elementary school students. The research results show a significant improvement in students in terms of courage, discipline, creativity, cooperation, and respect for national symbols such as the flag and national anthem. Collaboration between students as facilitators, teachers as pedagogical directors, and the school environment creates a conducive learning ecosystem where participatory methods are more effective than conventional approaches. This experiential learning approach not only enhances cognitive understanding of the struggles of national and local heroes but also builds emotional empathy and social skills. Positive impacts include high student enthusiasm, reduced learning boredom, and character strengthening in accordance with the Pancasila Student Profile, such as mutual cooperation and integrity. Overall, this mentoring program serves as a relevant model for non-formal character education that can be replicated in other schools to strengthen nationalism from an early age amidst the challenges of post-pandemic globalization and individualism.

Amanda, Vica Selly; Nadhiroh, Umi; Wardhani, Rike Kusuma

Populer: Jurnal Penelitian Mahasiswa 2025 Universitas Maritim AMNI Semarang

This study aims to analyze the effect of asset growth, capital structure, and asset structure on the profitability of PT Astra Graphia Tbk during the period 2016–2023. The research employs a quantitative approach with a causal research design using secondary data derived from the company’s quarterly financial statements. A total of 32 quarterly observations were selected through purposive sampling. Profitability is measured using Return on Equity (ROE), while data analysis is conducted using multiple linear regression. Prior to hypothesis testing, classical assumption tests including normality, multicollinearity, heteroskedasticity, and autocorrelation tests were performed to ensure the robustness of the regression model. The results indicate that asset growth, capital structure, and asset structure simultaneously have a significant effect on firm profitability. However, partially, only asset structure has a significant effect on profitability, while asset growth and capital structure show no significant influence. These findings suggest that efficient asset composition plays a more critical role in improving profitability than mere asset expansion or increased leverage. The managerial implication of this study highlights the importance of optimizing asset structure to enhance the firm’s ability to generate sustainable profits.

Prasetya, Rendy Angga Putra; Suwarsono, Bambang; Kurniawan, Brahma Wahyu

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to examine the effect of profitability ratios, namely Earnings per Share (EPS), Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE), on the stock price of PT Ciputra Development Tbk during the 2016–2023 period. The research employs a quantitative approach with a causal research design using secondary data derived from quarterly financial statements and stock closing prices published by the Indonesia Stock Exchange. The data were analyzed using multiple linear regression, supported by classical assumption tests, partial hypothesis testing (t-test), simultaneous testing (F-test), and the coefficient of determination (R²). The results show that EPS, NPM, and ROA do not have a significant effect on stock prices, while ROE has a positive and significant effect. Simultaneously, all profitability variables do not significantly influence stock prices. The coefficient of determination indicates that profitability ratios explain a relatively small proportion of stock price variation, suggesting that stock prices in the property sector are influenced more by external and market-related factors than by short-term profitability indicators. These findings imply that ROE is the most relevant profitability indicator for investors in assessing property sector stocks, while other profitability ratios play a limited role.

Wiratama, Tomi; Pribadi, Indah Ayu Permana; Amanda, Ariesta

Populer: Jurnal Penelitian Mahasiswa 2025 Universitas Maritim AMNI Semarang

Stunting is a serious problem because it impacts long-term development, preventing children from reaching their full potential, leading to lower cognitive abilities, and increasing their susceptibility to future illnesses. It also impacts both macroeconomic and microeconomic income. SSGI data from 2022 shows that the stunting rate in Central Java was 20.8%, with the highest stunting rate in Central Java Province being in Brebes Regency at 29.1% in 2022. Pandansari Village is one of the villages in Paguyangan District with the highest stunting prevalence, with 129 children in 2023. This study aims to determine the effectiveness of the stunting reduction acceleration program in Pandansari Village. This study uses a descriptive qualitative method. Data collection was carried out through observation, interviews, and documentation. The focus of this study uses Budiani's effectiveness theory, namely. The results of the study are seen from five aspects, the first is the accuracy of the target in the aspect of the accuracy of the target of toddlers recorded by the posyandu cadres and village midwives so that the program is in accordance with the targets that have been previously determined and is in accordance with existing policies. Second, the aspect of program socialization where the existing program has been well socialized to program recipients through various existing activities which include stunting prevention. Third, the program objectives from this aspect, the objectives of the existing program have been effective because the stunting rate in Pandansari Village has decreased every year and also parents of toddlers have better understanding and pay more attention to healthy lifestyles for toddlers. And fourth, program supervision in this aspect, village cadres and midwives have provided regular supervision to program recipients and also provided reports to the village government, sub-district government and community health center every six months.  

Putri, Zahra Adeliya Suharno; Fathihani; Sulistiyowati, Rini

This study aims to analyze the Effect of Return on Equity (ROE), Total Asset Turnover (TATO), Net Profit Margin (NPM) on Stock Prices in food and beverage companies listed on the Indonesia Stock Exchange for the 2020-2024 period. The approach in this study is to use a quantitative approach, and based on the objectives, this type of research is causal. The independent variables in this study include Return on Equity (ROE), Total Asset Turnover (TATO), and Net Profit Margin (NPM) and the dependent variable in this study is Stock Price. The population in this study is food and beverage companies listed on the Indonesia Stock Exchange, totaling 27 companies for the 2020-2024 period. This study uses the Purposive Sampling method, selecting 18 companies multiplied by 5 periods, resulting in a sample size of 90 samples in this study. This study uses descriptive statistical analysis using secondary data with descriptive statistical tests. Continued with the classical assumption test using the multiple regression model hypothesis testing method. This study uses panel data regression tool analysis with the help of SPSS 26 application tools. The results of the study show that: (a) Return on equity (ROE) has a positive effect on share prices, (b) Total Asset Turnover (TATO) does not have an effect on share prices, (c) Net Profit Margin (NPM) has a positive effect on share prices.

Anggraini, Eriyan Efrilia; Nurdiwaty, Diah; Sugeng, Ec

Jurnal Ekonomi, Bisnis dan Manajemen (EBISMEN) 2025 FEB Universitas Maritim Semarang

This study aims to analyze the influence of profitability as proxied by Return on Equity (ROE), solvency as proxied by Debt to Equity Ratio (DER), and liquidity as proxied by Current Ratio (CR) on firm value as proxied by Price to Book Value (PBV) in the Indonesian food and beverage sector. The study focuses on the 2019-2023 period, a timeframe uniquely defined by the economic disruption of the COVID-19 pandemic and its initial recovery phase. The research method employed is a quantitative approach using multiple linear regression analysis. The sample consists of 10 companies listed on the Indonesia Stock Exchange (IDX), selected through a purposive sampling technique, resulting in 50 firm-year observations. The results indicate that both partially and simultaneously, the variables of profitability, solvency, and liquidity have a significant positive influence on firm value. This finding suggests that during a period of systemic crisis, the capital market places a valuation premium on companies that can demonstrate holistic and comprehensive signals of financial health. The novelty of this research lies in its contextualization of the dynamic role of financial ratios as crucial signals amidst an unprecedented economic shock. This study provides an empirical explanation for why investors prioritized stability and resilience, thereby reconciling conflicting findings in prior literature regarding the impact of liquidity on firm value.

Sya’bana, Daffa Athif; Pratomo, Sunu Arsy; Guritno, Suryo; Roehman, Fatchur

Jurnal Universal Technic (UNITECH) 2025 Fakultas Teknik Universitas Maritim AMNI Semarang

Oil spills in port waters are one of the serious threats to the marine environment and port operations. This study aims to simulate the level of preparedness of oil spill response equipment available at the Oil Base Jetty of PT Pertamina Port Panjang Lampung. Simulations were conducted based on three scenarios, namely a medium-scale spill at Jetty 1 (10,000 liters), a large spill at Jetty 2 (50,000 liters), and a combined maximum spill (60,000 liters). Evaluation was conducted on three main types of equipment: oil boom, skimmer, and dispersant, by considering their effectiveness and adequacy based on the Minister of Transportation Regulation No. PM 58 Year 2013 and guidelines from the International Maritime Organization (IMO). The simulation results show that the oil boom has high effectiveness in all scenarios, demonstrating maximum readiness in the initial containment of the spill. However, the effectiveness of skimmer and dispersant is still low, especially in large-scale scenarios, so they are not able to handle the spill volume optimally. From these results, it can be concluded that although the containment aspect is adequate, there is still a need for improvement in spill recovery facilities, both in terms of the number of units and equipment capacity. This research is expected to be a reference in planning the strengthening of the oil spill emergency response system in the port area.

Haudija Amalia Wijaya; Anak Agung Ketut Ayuningsasi

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

The Ubud Thematic Market is one of the traditional markets that serves as both an economic hub and a tourist destination in Gianyar Regency, Bali Province. This market not only functions as a place for buying and selling transactions but also as a platform for the development of micro-enterprises and the promotion of local culture. However, not all traders have experienced optimal income growth, making it necessary to identify the factors that influence it. This study aims to analyze the effect of accessibility, digitalization, and business location on traders’ income at the Ubud Thematic Market. A quantitative approach was employed, using a survey method through questionnaires distributed to 100 respondents who are active traders at the market. The collected data were analyzed using multiple linear regression analysis to examine the extent to which the independent variables affect traders’ income as the dependent variable. The results show that simultaneously, accessibility, digitalization, and business location have a positive and significant effect on traders’ income at the Ubud Thematic Market. Furthermore, partially, each variable also demonstrates a positive and significant effect on traders’ income. Therefore, market development strategies should not focus solely on one aspect but rather optimize the three factors in an integrated manner to achieve more optimal and sustainable outcomes.

Ni Putu Diah Iswari; I Nyoman Wijana Asmara Putra

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

Stock returns represent a crucial parameter that serves as a reference for investors in evaluating company performance. A decline in returns has occurred in several mining companies listed on the IDX, despite the sector’s vital role in the national economy. This study aims to examine the effect of Corporate Social Responsibility (CSR), Return on Assets (ROA), Return on Equity (ROE), Debt to Equity Ratio (DER), and Firm Size on the stock returns of mining companies listed on the IDX during the 2022–2024 period. The sample was determined using purposive sampling, resulting in 56 observational data after outliers were removed. To meet the assumptions of classical tests, several variables were transformed using natural logarithms, and data were analyzed using multiple linear regression. The results indicate that CSR, ROE, and Firm Size have no significant effect on stock returns, whereas ROA and DER show a significant positive effect. These findings suggest that investors tend to emphasize financial fundamentals, particularly profitability and capital structure, rather than non-financial aspects such as CSR activities. The implication for companies is the need to enhance operational efficiency and optimize financial structures to attract investors and improve returns. Future researchers are encouraged to incorporate external variables such as global commodity prices, market risk, and macroeconomic indicators, as well as expand the observation period and apply more diverse methodological approaches to provide a more comprehensive understanding of stock return dynamics in the mining sector.