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The stock market is a place to buy shares for profit. In Indonesia, energy stocks are highly unpredictable because global commodity prices change constantly. This study examines what affected energy stock returns in 2024, focusing on trading volume, price swings, company profits, and cash flow. Using financial reports and statistical analysis, all these factors were tested together and individually. The results show that combined, all these factors do affect stock returns. However, when looked at one by one, only the company's net profit truly matters to investors. On the other hand, busy trading, daily price swings, and cash flow have no impact at all. In fact, all the factors studied only account for 14% of stock return movements, while the remaining 86% is driven by other outside forces. In conclusion, for those looking to invest in energy stocks, the most important thing to watch is the company's ability to generate net profit, rather than just looking at how busy daily transactions are in the market.

Magnetic Resonance Imaging (MRI) is a high-tech medical diagnostic equipment that plays an important role in healthcare, but in its operation it faces problems in the form of very large maintenance costs. This is due to the complexity of MRI technology, where the main unit of MRI is an imported product, while supporting equipment such as UPS, chiller, and AHU system are domestic products, thus impacting the increase in maintenance costs in hospitals and potentially reducing the quality of service. The solution to reduce maintenance costs, because maintenance cost efficiency can increase hospital profits. This study discusses the determination of maintenance priorities on MRI using a multi-criteria-based decision-making model by considering: the age of the MRI, the number of error logs, the condition of supporting equipment, and the expertise of the operator in operating the MRI. The Analytical Hierarchy Process (AHP) method is used with the stages of forming a decision hierarchy, pairwise comparisons, matrix normalization, priority weight calculation, and consistency testing. Data were obtained through questionnaires given to competent respondents, with the object of research at the Orthopedic Hospital, Surakarta, Indonesia. The results of the study indicate that the AHP method can be used to determine MRI maintenance priorities effectively. This is evidenced by the best alternative results, namely the Medium type (0.3372), followed by All Risk (0.3315), and Labor Only (0.3311). The Medium type is the most optimal choice. The AHP method has been proven to provide objective, structured, and accountable recommendations for hospital management in determining maintenance contracts that are appropriate to the technical condition of the equipment and budget constraints.

This study examines how solvency, profitability, liquidity, and operating costs are affected by book-tax differences (BTD) among property and real estate companies listed on the Indonesia Stock Exchange from 2022 to 2024. One key indicator of financial reporting transparency is BTD, which reflects the difference between accounting and taxable income. This is particularly relevant for the property sector, which contributes Rp185 trillion to national tax revenue. The results of the study, conducted using the Random Effects Model panel data regression method with 93 observations from 31 companies, show that solvency (DER) has a significant effect on BTD, while profitability (ROA) also has a significant effect, indicating that companies with high profits tend to engage in more aggressive tax planning practices and financial reporting strategies. On the other hand, liquidity and operating costs do not have a significant impact on corporate tax reporting behavior. 98% of the variation in BTD can be explained by the model.

Amid intense market competition, the profitability of manufacturing companies is not solely determined by sales volume but is highly dependent on the precision of financial management, particularly in managing the working capital cycle and operating cash flow circulation. This study aims to evaluate the relationship between Working Capital Turnover (X1) and Operating Cash Flow (X2) on Profitability (Y) in consumer goods industry companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Using a quantitative approach and multiple linear regression analysis, this study processes 77 observations that have passed purposive sampling and outlier testing. The partial test results reveal contrasting findings: Working Capital Turnover (X1) does not have a significant effect on profitability, while Operating Cash Flow (X2) is proven to be a strong positive determinant. However, simultaneously, both variables have a significant influence on the financial performance of companies (Fhitung 24,008 > Ftabel 3,08), with operating cash flow acting as the dominant driving factor of profit. The implications of these findings emphasize that to maintain profit stability, management should prioritize the availability of cash generated from core operations, while investors should be more attentive to cash flow trends as an indicator of fundamental financial health before making investment decisions.

Financial performance is an important indicator for assessing the sustainability and growth prospects of a company, where a sustained negative net profit may indicate financial and operational problems (Aminah, 2015). The purpose of this study is to analyze the financial performance of PT GoTo Gojek Tokopedia Tbk for the period 2019-2023 based on NPM, ROA, and ROE. The research method used in this study is a qualitative method with a descriptive analysis approach. The data was sourced from the official website of PT GoTo Gojek Tokopedia Tbk for the period 2019-2023. The results show that all profitability ratios, namely Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE), are in an unfavorable condition and far below the standards set by Bank Indonesia (2004), namely NPM 3%–9.5%, ROA 0.5%–1.25%, and ROE 5%–12.5%. NPM was consistently negative from -276.74% (2019) to -373.12% (2023), indicating that the company has not been able to generate net income from its revenue due to high operating expenses. ROA was also negative throughout the period, ranging from -112.57% (2019) to -167.33% (2023), indicating that assets have not been utilized efficiently. Similarly, ROE recorded negative values from -162.02% (2019) to -253.41% (2023), reflecting that shareholders' capital has not been optimally managed and has not provided returns, so that overall financial performance requires a more effective financial management strategy.

This research analyzed the influence of liquidity, leverage, profitability, sales growth, and firm size on cash holdings. The research is quantitative, using secondary data from annual financial reports of primary consumer industries listed on the Indonesia Stock Exchange from 2022 to 2024. Liquidity is measured by the Current Ratio, which is calculated as current assets divided by current liabilities. Leverage, proxied by the Debt-to-Equity Ratio, is measured by total liabilities divided by total equity. Profitability, proxied by Net Profit Margin, is calculated using the formula operating profit divided by sales. Sales Growth is measured as the current total sales minus the previous total sales, divided by the previous total sales, expressed as a %. Firm Size is proxied by the natural logarithm of total assets. Meanwhile, Cash Holding is measured by cash and cash equivalents divided by total assets. This research was conducted using a sample of 174 data points from 58 companies; outliers were removed, resulting in 159 data points from 53 companies. The sampling was done using purposive sampling. The research results indicate that liquidity has a positive effect on cash holding. Leverage has a negative effect on cash holding. Profitability has a positive effect on cash holding. Sales growth has a positive effect on cash holdings. Firm size has a positive effect on cash holding.

This study aims to analyze the influence of internal company factors, including company size, networking capital, operating efficiency, liquidity, and leverage, on financial performance, proxied by Return on Assets. The research population includes 40 food & beverage subsector companies listed on the Indonesia Stock Exchange during the 2019–2024 period. Using purposive sampling, 17 sample companies were selected, yielding a total of 102 data observations. This study adopts a quantitative approach, using secondary data obtained from the company's annual financial statements. Data analysis was performed using multiple linear regression to identify partial and simultaneous influences between variables. Empirical findings show that not all internal factors exert a uniform influence on financial performance, as some variables have been shown to have a significant influence, while others do not show a statistically significant relationship. These results have important implications for managers and investors in formulating internal management strategies to drive sustainable profitability

The study investigates the impact of governance on firm value, along with the moderating role of institutional ownership, among companies operating in the consumer cyclicals and consumer non-cyclicals sectors listed on the Indonesia Stock Exchange (IDX) over the 2021-2023 period. Drawing on a sample of 42 companies and 126 observations, a quantitative panel data approach was adopted, with data gathered through purposive sampling. The Bloomberg Governance Score was used to measure governance, Tobin's Q served as a proxy for firm value, institutional ownership was the moderating variable, and firm size, leverage, and profitability were included as control variables. Model selection was conducted using the Chow and Hausman Tests in EViews 14, which indicated that the Random Effects Model (REM) was the most suitable estimation approach. The findings reveal that governance does not exert a significant influence on firm value. Furthermore, institutional ownership is unable to strengthen the relationship between governance and firm value. These results suggest that ESG-based governance signals have not yet been optimally absorbed by investors in the Indonesian capital market; hence, reinforcing governance reporting standards and enhancing investor ESG literacy are considered essential steps toward integrating non-financial information into investment decision-making.

This study aims to analyze the impact of inflation on the profitability of Micro, Small, and Medium Enterprises (MSMEs) operating in traditional markets. Inflation influences key business aspects, including rising production costs, declining consumer purchasing power, and instability in input prices, all of which can disrupt business performance. The research employed a quantitative approach using survey data collected from MSME actors to assess these effects. The findings reveal that inflation has a significant negative impact on MSME profitability, particularly through the reduction of profit margins. This occurs as businesses face higher raw material costs while simultaneously experiencing a decline in sales volume due to weakened consumer demand. As a result, many MSMEs struggle to maintain financial stability and sustain their operations under inflationary pressure. These findings highlight the need for adaptive strategies among MSMEs, such as cost efficiency and pricing adjustments. Additionally, the study offers important policy implications for the government to support MSMEs through targeted interventions, including price stabilization measures and financial assistance programs, in order to maintain business resilience and economic sustainability.

This study aims to analyze the influence of digital promotion, profit potential, and business risk on hamper business decisions in Medan City. In this study, a quantitative approach was used along with a survey. Hamper entrepreneurs in Medan City who have been operating for at least one year were the subjects of this study. The sampling technique applied purposive sampling with a total of 90 respondents. SmartPLS 4.0 software was used to analyze the data collected through questionnaires and processed using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method. The results showed that digital promotion, profit potential, and business risk each had a positive and significant influence on hamper business decisions in Medan City. In addition, all three variables also influenced business decisions with an R-Square value of 0.585, indicating that the research model could explain 58.5% of the variation in business decisions. These findings indicate that hamper business decisions are influenced by the effectiveness of digital promotion strategies, consideration of profit potential, and an understanding of the business risks faced by entrepreneurs. The results of this study are expected to help hamper entrepreneurs make better and more sustainable business decisions.

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.

This study to analyze the effect of Non Performing Loan (NPL), Capital Adequacy Ratio (CAR), and Net Interest Margin (NIM) on Return on Assets (ROA) with Operating Expenses to Operating Income (BOPO) as an intervening variable at PT Bank Rakyat Indonesia (Perser) Tbk. This research employs a quantitative approach using secondary data obtained from the annual financial statements of Bank BRI for the period 2015-2024. The data analysis method used in this study is Structural Equation Modeling (SEM) based on Partial Least Squares (PLS), which allows the examination of both direct and indirect relationship among variables in the research model. The independent variables consist of NPL, CAR, and NIM, the intervening variable is BOPO and the dependent variable is ROA. The results indicate that NPL has a positive effect on BOPO, suggesting that higher credit risk leads to increased operational costs. CAR and NIM have a negative effect on BOPO, indicating that adequate capital and effective interest income management improve operational efficiency contributes to increased bank profitability. The findings also confirm that BOPO mediates the relationship between NPL, CAR, and NIM on ROA. This study is expected to contribute to the academic literature on banking financial management and provide practical insights for bank management in enhancing operational efficiency and sustainable profitability.

Focusing on Yuli Bakery, this study aims to examine in depth how production planning budgets and cost effectiveness influence business profitability, particularly in the food and bakery industry sector. This research is based on the assumption that effective production planning can optimize the utilization of available resources, minimize raw material waste, and establish more efficient and structured business operational performance. The study explores the implementation of labor management, raw material management, and production process control oriented toward cost efficiency without reducing product quality, thereby enabling sustainable profitability improvement. The results of the analysis show that Yuli Bakery successfully reduced its cost of goods sold (COGS) by IDR 12,800,000, which directly contributed to an increase in operating profit and gross profit. This cost reduction did not affect overall production volume nor generate additional expenses in other cost components. These findings indicate that even in the absence of significant revenue growth, cost optimization through proper production planning can make a substantial contribution to improving Yuli Bakery’s profitability.

This study aims to examine the effect of Corporate Social Responsibility (CSR) costs and financial characteristics on tax avoidance practices among publicly listed companies with the largest market capitalization in Indonesia. The study is motivated by Indonesia’s relatively low tax ratio compared to other emerging economies in the ASEAN region, which suggests the persistence of tax avoidance practices, particularly among large corporations. Grounded in legitimacy theory and agency theory, this research empirically investigates the influence of CSR costs, profitability, leverage, liquidity, activity ratio, growth ratio, and operating cash flow on tax avoidance. The research sample consists of 50 companies with the largest market capitalization listed on the Indonesia Stock Exchange over the 2020–2024 period, employing a census sampling method and unbalanced panel data. Secondary data were obtained from annual financial reports and analyzed using panel data regression techniques. Tax avoidance is measured using the Book-Tax Differences (BTD) approach, while model selection is determined through the Chow test, Hausman test, and Lagrange Multiplier test. The results indicate that, simultaneously, all independent variables have a significant effect on tax avoidance. Partially, the activity ratio has a negative effect on tax avoidance, whereas the growth ratio and operating cash flow have a positive effect on tax avoidance. Meanwhile, CSR costs, profitability, leverage, and liquidity do not show a significant effect. These findings suggest that asset utilization efficiency tends to restrain tax avoidance behavior, while corporate growth dynamics and strong operating cash flows encourage more aggressive tax management strategies. This study provides empirical evidence from an emerging market context and offers insights for tax authorities and regulators in designing more effective, risk-based tax supervision policies.

Traditional snack micro, small, and medium enterprises (MSMEs) in Indonesia face increasing market competition and rapidly changing consumer preferences, particularly among younger consumers seeking innovative and symbolic food experiences. This community engagement study aims to strengthen the profitability and sustainability of traditional snack MSMEs by integrating local flavor innovation with simple business governance practices. Using a participatory action research approach under the Merdeka Belajar Kampus Merdeka (MBKM) program in Palangka Raya, this study involved co-creation between students and local entrepreneurs in product development, production standardization, and basic financial management. Qualitative data were collected through participatory observation and stakeholder discussions, while quantitative data were obtained from sales records and simple financial reports. The results demonstrate that local flavor-based innovation, combined with standardized operating procedures and cost control mechanisms, improved product differentiation, operational efficiency, and financial performance. The intervention generated a positive net profit and strengthened the partner’s capacity for independent business management. This study contributes to the literature by positioning traditional food MSMEs as sites of cultural innovation and micro-governance, while supporting Sustainable Development Goals related to inclusive economic growth, cultural preservation, and responsible production.

One of the most profitable horticultural crops, but it spoils quickly due to its high water content. Processing chili peppers with a disc mill into chili powder is a great way to increase the added value of the product while extending its shelf life. The purpose of this study was to determine how the blade rotation speed and amount of material affected the production time of chili powder in an FFC15 Disc Mill. The blade rotation speed varied between 2100 rpm and 3500 rpm, and the amount of material varied between 5% and 500 g. The data were analyzed using statistical analysis to determine the effect of each component and their relationship with each other. The results showed that the blade rotation speed and the amount of material had a significant effect on the production time of chili powder. However, the relationship between these two factors did not have a significant effect. The best operating conditions were achieved with 500 grams of material and a speed of 3500 rpm, which resulted in the fastest production time of 4.367 minutes.

This study aims to analyze the profitability and feasibility of sheep farming using intensive and semi-intensive rearing sistems in Suka Raya Village, Pancur Batu Sub-district. The research employed a survey method with purposive sampling, involving 16 farmers (8 intensive and 8 semi-intensive), each rearing more than 15 sheep and operating for at least 3 years. Data were collected through questionnaire interviews and field observations, then analyzed descriptively to calculate production costs, revenue, income, R/C ratio, and Break Even Point (BEP). Results showed that the average total production cost for the intensive sistem was Rp 52,429,313, higher than the semi-intensive sistem at Rp 39,664,375. The average revenue for the intensive sistem was Rp 69,150,000, while the semi-intensive sistem was Rp 63,712,500. The average income for intensive farmers was Rp 16,720,688, compared to Rp 24,048,125 for semi-intensive farmers. The average R/C ratio for the intensive sistem was 1 (near break-even), while the semi-intensive sistem was 2 (more efficient and profitable). BEP analysis indicated higher sales for the intensive sistem (Rp 844,022/sheep/period) compared to the semi-intensive sistem (Rp 691,052/sheep/period), with a larger production BEP for the intensive sistem (44 sheep) than the semi-intensive sistem (33 sheep). The semi-intensive sistem is recommended for farmers with limited capital and small to medium-scale operations due to lower costs and higher profit margins, while the intensive sistem is more suitable for large-scale operations with adequate capital, feed management, and health care.

This study aims to analyze the implementation of financial reporting and evaluate the economic performance of Koperasi Simpan Pinjam dan Pembiayaan Syariah (KSPPS) Nur Insani during the period from 2022 to 2023. A descriptive qualitative method was employed, utilizing secondary data from the Statement of Financial Position, Cash Flow Statement, and Operating Results Report published by the cooperative. The findings indicate that KSPPS Nur Insani has implemented a computerized financial recording system, which enhances accuracy, transparency, and operational efficiency. However, the cooperative experienced significant financial pressure in 2023, as indicated by decreases in cash and cash equivalents, total assets, and temporary syirkah funds, both short-term and long-term. These declines reflect weakened liquidity and reduced fundraising capacity from members. Despite these challenges, the cooperative succeeded in increasing its Net Operating Results (SHU), demonstrating effective revenue management and operational cost control. Overall, the profitability of KSPPS Nur Insani remains positive, yet strategic improvements are necessary, particularly in strengthening liquidity management, increasing funding sources, optimizing asset utilization, and enhancing digital system implementation to support better financial governance. These strategic efforts are expected to improve business sustainability and maintain member trust in the future.

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.

Islamic banking is a financial system that operates in accordance with the principles of Islamic law, such as the prohibition of usury (riba), gharar (unlawful betting), and maisir (gambling), as well as the implementation of a profit-sharing mechanism. Islamic banking was born in the 1960s with the founding of Egypt's Mit Ghamr Savings Bank as a pioneer, followed by the establishment of the Islamic Development Bank (IDB) in 1975. After that, the development of Islamic banking expanded to various countries, particularly in the Middle East, South Asia, and Europe. In Indonesia, Islamic banking institutions officially began operating in 1992 with the establishment of Bank Muamalat Indonesia (BMI), the first Islamic bank. The industry's development is strengthened by specific regulations, in the form of Law Number 21 of 2008 concerning Islamic Banking, which serves as a primary foundation for strengthening the sector. Currently, Islamic banking in Indonesia is starting to show significant growth thanks to government support, increasing awareness among Muslims, and product and service innovations that are able to compete globally. This historical journey demonstrates that Islamic banking has evolved beyond simply being an alternative option and has become a vital component of a healthy economic system, both nationally and internationally.