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This study examines the effects of the Current Ratio, Debt-to-Equity Ratio, and Return on Equity on the stock price of PT United Tractors Tbk during the 2016–2023 period. The study employed a quantitative approach using secondary data obtained from the company’s quarterly financial statements and stock price records published by the Indonesia Stock Exchange and the company’s official website. Purposive sampling was applied, resulting in 32 quarterly observations. The data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, partial significance tests, simultaneous significance tests, and the coefficient of determination with IBM SPSS version 25. The results show that the Current Ratio has a negative and significant effect on stock price, with a significance value of 0.030. In contrast, the Debt-to-Equity Ratio and Return on Equity do not have significant partial effects, with significance values of 0.087 and 0.380, respectively. Simultaneously, the three financial ratios have a significant effect on stock price, as indicated by a significance value of 0.049. The adjusted coefficient of determination is 0.160, indicating that the model explains 16% of the variation in stock price, while the remaining 84% is associated with factors outside the model. These findings indicate that liquidity, leverage, and profitability should be considered collectively when evaluating stock price movements, although other financial and market-related factors remain dominant.

Asset inventory management is vital for enhancing the operational efficiency of an organization. At the Communication and Informatics Office of Tegal Regency, the process for managing asset inventory is still performed manually, leading to various issues including challenges in asset documentation, data retrieval, management of borrowing, reporting damage, and overseeing the condition of assets. This research intends to create a web-based asset inventory management solution that leverages Quick Response (QR) Code technology to boost the effectiveness, efficiency, and precision of inventory management. The methodology employed for the system's development was Agile Development, which includes stages such as planning, analyzing requirements, designing the system, developing, testing, and conducting iterative evaluations. Data gathering was conducted through observation, interviews, and reviewing existing literature. The completed system offers several key features, such as inventory management, the ability to generate and scan QR Codes, processes for borrowing and returning assets, damage reporting, a monitoring dashboard, and management of user access based on roles.  The findings reveal that the implemented system enhances asset identification through QR Codes, delivers real-time inventory data, and enables more efficient monitoring of assets. According to Black Box Testing results, all functionalities of the system performed in alignment with the identified functional requirements. Consequently, the web-based asset inventory management system utilizing QR Code technology can act as a useful solution to enhance the asset inventory management quality at the Communication and Informatics Office of Tegal Regency.

Foreign ownership represents an important indicator of international investors' confidence in a company's prospects and financial performance. Inconsistent findings in previous studies regarding the determinants of foreign ownership highlight the need for a more comprehensive analysis by incorporating firm characteristics as a moderating variable. A quantitative approach was employed using panel data from non-financial companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The sample consisted of 30 companies selected through purposive sampling. Panel data regression with the Fixed Effect Model (FEM) was applied to examine the effects of profitability, liquidity, and leverage on foreign ownership while evaluating the moderating role of firm size. The empirical results reveal that profitability has a negative and significant effect on foreign ownership, whereas liquidity and leverage have positive and significant effects. Simultaneously, all independent variables significantly influence foreign ownership. The moderation analysis demonstrates that firm size strengthens the relationship between profitability and foreign ownership but weakens the effects of liquidity and leverage. These findings contribute to the literature on foreign ownership determinants by providing empirical evidence that both financial performance and firm characteristics shape foreign investors' investment decisions. The results also offer practical insights for corporate managers in improving investment attractiveness through effective financial performance management while considering the strategic role of firm size.

This study aims to analyze the effect of liquidity and profitability ratios on stock returns through Price to Book Value (PBV) in coal mining companies listed on the Indonesia Stock Exchange (IDX) during 2020-2024. The research uses secondary data analysis from financial reports of the companies collected through documentation techniques, and the data is analyzed using Partial Least Squares (PLS) based on Structural Equation Modeling (SEM). The results show that profitability significantly influences stock returns and PBV, while liquidity has a negative but insignificant effect on PBV and stock returns. Moreover, PBV does not mediate the relationship between liquidity and stock returns or profitability and stock returns. This study recommends that companies focus on improving profitability to enhance stock returns, while investors should consider profitability performance when making investment decisions. Recommendations for future research include adding other independent variables such as leverage or macroeconomic factors and expanding the sector and period coverage for greater generalization.

Vibe coding is a software development approach that intensively leverages Large Language Models (LLMs), where developers act as directors and validators rather than direct code writers. This study aims to: (1) characterize vibe coding scientifically, (2) measure its impact on productivity and code quality, (3) identify associated risks, and (4) formulate practical adoption recommendations. A Systematic Literature Review (SLR) of 47 publications from Scopus, IEEE Xplore, and ACM DL (2021–2025) was conducted, combined with an eight-week controlled experiment on two homogeneous groups of fi-nal-year Informatics Engineering students (control n=30, experimental n=30; Mann-Whitney U=427, p=0.83). Results showed the vibe coding group completed an average of 8.3 features (SD=1.2) vs. 5.4 features (SD=0.9) in the conventional group, a statistically significant difference (t(58)=10.47, p<0.001, Cohen’s d=2.70). However, the vibe coding group exhibited a significantly higher bug rate (5.1 bugs/100 LOC vs. 3.8 bugs/100 LOC; t(58)=3.84, p<0.001) and lower self-understood code pro-ficiency (5.9 vs. 8.4 out of 10; t(58)=-9.12, p<0.001). The study concludes that vibe coding effectively increases short-term productivity but risks technical skill erosion and hidden technical debt without rigorous software engineering practices.

Modern food supply chains, particularly those involving essential commodities like rice, often suffer from major challenges such as product fraud, inefficient record-keeping, and a lack of consumer trust. Traditional centralized systems are prone to data tampering, limited transparency, and poor traceability, making it difficult to verify the authenticity and origin of goods. To address these issues, our research introduces TraceRoot, a blockchain-based traceability framework designed to enhance transparency, accountability, and trust in agricultural supply chains.TraceRoot leverages the immutability and decentralization of blockchain technology to maintain a secure, distributed ledger that records every transaction and movement of goods across the supply chain. Each stakeholder including farmers, distributors, retailers, and consumers has role-based access to authenticated data through a user-friendly interface. The framework integrates smart contracts to automate transactions and digital signatures to verify the integrity of the data being uploaded, minimizing the risk of human error or manipulation

Firm value remains one of the most important indicators used by investors to assess corporate performance and long-term sustainability. This study investigates the influence of dividend policy, leverage, profitability, and financial risk on firm value from the perspective of strategic financial management. The research adopts a quantitative explanatory approach using secondary data obtained from annual reports of manufacturing companies listed on the Indonesia Stock Exchange during the 2020–2024 period. A total of 100 observations were selected through purposive sampling. Data analysis was conducted using Statistical Package for the Social Sciences (SPSS) version 27, including validity tests, reliability tests, classical assumption tests, multiple linear regression, coefficient of determination, t-tests, and F-tests. The findings reveal that dividend policy has a positive and significant effect on firm value, indicating that consistent dividend payments enhance investor confidence. Leverage demonstrates a significant negative effect, suggesting that excessive debt utilization increases financial vulnerability and lowers market valuation. Profitability exerts the strongest positive influence on firm value, reflecting the importance of earnings generation in attracting investment. Financial risk negatively affects firm value due to increased uncertainty and perceived investment risk. Simultaneously, all independent variables significantly explain variations in firm value. The study concludes that strategic financial management should emphasize balanced dividend distribution, prudent debt management, sustainable profitability improvement, and effective risk control to maximize firm value. A limitation of this research lies in its focus on manufacturing companies and a limited observation period, which may restrict generalizability to other industries and economic environments.

This study examines the influence of firm size, profitability, and leverage on Corporate Social Responsibility (CSR) disclosure among mining companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Employing a quantitative research design with a descriptive approach, the study utilizes secondary data obtained from annual reports and sustainability reports. The sample consists of 13 mining companies selected from a population of 59 companies through purposive sampling. Data were analyzed using multiple linear regression to assess both partial and simultaneous effects of the independent variables on CSR disclosure. The findings reveal that firm size has a significant positive effect on CSR disclosure, indicating that larger companies tend to disclose more comprehensive CSR information. In contrast, profitability and leverage do not exhibit a significant influence on CSR disclosure when assessed individually. Nevertheless, the simultaneous test demonstrates that firm size, profitability, and leverage collectively have a significant effect on CSR disclosure. These results suggest that while firm size serves as a key determinant of CSR disclosure practices in the mining sector, the combined interaction of financial and organizational characteristics also contributes to variations in CSR reporting.

Penelitian ini bertujuan untuk menganalisis kondisi financial distress pada PT Diamond Citra Propertindo Tbk selama periode 2020–2024 dengan menggunakan model Zmijewski. Penelitian ini menggunakan pendekatan kuantitatif deskriptif dengan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan yang dipublikasikan melalui Bursa Efek Indonesia. Analisis dilakukan dengan menggunakan tiga rasio keuangan, yaitu Return on Assets (ROA), Debt Ratio (DR), dan Current Ratio (CR), yang dihitung untuk memperoleh nilai X-Score sebagai indikator kondisi financial distress. Hasil penelitian menunjukkan bahwa nilai X-Score PT Diamond Citra Propertindo Tbk selama periode pengamatan berada di bawah titik cut-off nol, sehingga perusahaan tidak dikategorikan mengalami financial distress. Namun, perusahaan menunjukkan peningkatan tekanan keuangan pada tahun 2023 yang tercermin dari rendahnya profitabilitas, tingkat leverage yang relatif tinggi, dan melemahnya likuiditas. Meskipun kondisi keuangan mengalami sedikit perbaikan pada tahun 2024, rasio likuiditas perusahaan masih berada di bawah tingkat ideal. Temuan ini menunjukkan bahwa meskipun perusahaan berada dalam kategori sehat berdasarkan model Zmijewski, perusahaan tetap perlu meningkatkan profitabilitas, memperkuat pengelolaan likuiditas, dan menjaga keseimbangan struktur modal untuk mengurangi potensi risiko kesulitan keuangan di masa mendatang.

Advances in digital technology are driving universities to prepare students who are not only capable of becoming job seekers but also job creators through technology-based ventures. Technopreneurship has become a key approach because it combines entrepreneurial skills, technology, creativity, and innovation to create products or services with economic value. This study aims to analyze strategies for developing student technopreneurship in the digital era through entrepreneurship education, digital literacy, and business incubation. The method used is a literature review employing a descriptive qualitative approach through the examination of various scientific journals, books, and relevant academic sources. The findings indicate that entrepreneurship education serves as the foundation for shaping students’ mindset, motivation, and skills as prospective technopreneurs. Digital literacy supports students’ ability to leverage social media, e-commerce, digital platforms, and information technology to expand markets and enhance business efficiency. Meanwhile, business incubation serves as a mentoring mechanism that bridges university learning with real-world business practices. Thus, the development of student technopreneurship must be carried out in an integrated manner through practice-based curricula, the strengthening of digital skills, business mentoring, and collaboration with the government, industry, investors, and the business community.  

Earnings presented in financial statements must possess high quality as a reliable basis for economic decision-making; however, high market demands often trigger conflicts of interest and opportunistic behaviors aimed at artificially managing financial records. In response, this current paper analyzes how profitability, leverage, and dividend payout policies affect on the quality of earnings among consumer non-cyclical firms registered on the Indonesian Stock Exchange between 2021 and 2024. Employing a quantitative approach with purposive sampling, panel data regression analysis was conducted on 47 sample companies, totaling 188 observations. The findings reveal that the quality of earnings is not significantly influenced by profitability, leverage, or dividend policy. These findings suggest that profit margins, debt proportions, and routine dividend distributions cannot be used as primary benchmarks representing the purity of operational earnings. Consequently, this emphasizes the importance for investors to broaden their investment evaluations by reviewing actual cash flows and corporate governance effectiveness to avoid information bias.

Tokenized real-world asset (RWA) infrastructure exposes platform operators, investors, and reporting teams to a combined settlement, disclosure, liquidity, and accounting-quality monitoring problem. A tokenized claim can continue to trade while the underlying issuer releases new financial statements, securities fail to deliver in the reference market, or protocol-level liquidity changes in RWA venues. This paper develops an accounting-aware, evidence-constrained agent workflow for risk alerting and source-grounded report generation. The revised experiment replaces the earlier rule-generated monitoring sandbox with external datasets: SEC fails-to-deliver observations, SEC EDGAR XBRL company facts, SEC submissions metadata, Financial PhraseBank sentiment labels, and DefiLlama RWA protocol TVL. The issuer-day panel contains 2,648 surveillance tasks for eight large U.S. issuers from 2024-12-01 through 2026-03-31. Observed settlement stress is defined from external SEC FTD balances rather than from the agent's own rule. Accounting risk is computed from XBRL-derived liquidity, leverage, accrual, and cash-flow indicators. A stronger market-plus-accounting logistic baseline is added alongside single-source baselines and the proposed fusion agent. The machine-learning baseline achieves the strongest F1 score for settlement-stress detection (0.909), while the proposed fusion agent achieves the highest report faithfulness and tool-use correctness (1.000 each) and high recall (0.849). The results support a governance-oriented interpretation: an evidence-constrained agent is most useful not as an opaque high-accuracy classifier, but as an auditable layer that connects settlement evidence, filing metadata, accounting fundamentals, independent sentiment calibration, and RWA protocol liquidity into a reproducible monitoring record.

Nilai perusahaan merupakan salah satu indikator utama yang mencerminkan tingkat keberhasilan manajemen dalam mengelola sumber daya keuangan perusahaan. Beberapa penelitian menyebutkan bahwa likuiditas, profitabilitas, dan leverage memiliki pengaruh terhadap niali perusahaan. Penelitian ini menggunakan pendekatan kuantitatif dengan metode penelitian asosiatif kausal, yaitu penelitian yang bertujuan untuk mengetahui hubungan dan pengaruh antara dua variabel atau lebih.  Berdasarkan hasil penelitian dan pembahasan mengenai pengaruh likuiditas, profitabilitas, dan leverage terhadap nilai perusahaan menunjukkan Likuiditas berpengaruh positif dan signifikan terhadap nilai perusahaan. Profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan. Leverage tidak berpengaruh signifikan terhadap nilai perusahaan. Likuiditas, profitabilitas, dan leverage secara simultan berpengaruh signifikan terhadap nilai perusahaan.

Financial distress merupakan kondisi penurunan kemampuan keuangan perusahaan yang dapat mengarah pada kebangkrutan apabila tidak segera ditangani. Kondisi ini menjadi perhatian penting pada sektor real estate karena karakteristik industrinya yang padat modal, memiliki siklus proyek jangka panjang, dan sangat bergantung pada ketersediaan pendanaan. Penelitian ini bertujuan untuk menganalisis pengaruh current ratio, komisaris independen, kepemilikan institusional, dan komite audit terhadap financial distress pada perusahaan real estate yang terdaftar di Bursa Efek Indonesia. Penelitian menggunakan pendekatan kuantitatif dengan data sekunder yang diperoleh dari laporan keuangan perusahaan periode 2021–2024. Sampel penelitian ditentukan menggunakan teknik purposive sampling sehingga diperoleh perusahaan yang memenuhi kriteria penelitian. Financial distress diukur menggunakan metode Altman Z-Score, sedangkan analisis data dilakukan dengan regresi data panel. Hasil penelitian menunjukkan bahwa current ratio, komisaris independen, kepemilikan institusional, dan komite audit secara parsial tidak berpengaruh signifikan terhadap financial distress. Pengujian simultan juga menunjukkan bahwa seluruh variabel independen tidak berpengaruh signifikan terhadap financial distress. Temuan ini mengindikasikan bahwa kondisi financial distress pada perusahaan real estate tidak hanya dipengaruhi oleh faktor likuiditas dan mekanisme Good Corporate Governance, tetapi juga oleh faktor lain seperti leverage, profitabilitas, pertumbuhan perusahaan, serta kondisi ekonomi makro. Penelitian ini memberikan implikasi bagi manajemen perusahaan dan investor dalam mengidentifikasi faktor-faktor yang berpotensi memengaruhi risiko financial distress pada sektor real estate.

Tax avoidance presents a unique challenge, as it is morally acceptable and does not violate the law, yet it is detrimental to the government. There are loopholes (grey areas) in the tax code that are exploited. To further examine the influence of factors including institutional ownership, audit committees, firm age, and debt (leverage) on tax avoidance, this study aims to gather data. The analysis uses multiple regression at a 5% significance level on data obtained from 177 of 59 consumer goods sector companies listed on the IDX for the 2022–2024 period. A partial and statistically significant relationship was found between fiscal policy and factors such as firm age, institutional ownership, audit committees, and leverage. Penghindaran pajak menghadirkan tantangan khusus, karena secara moral dapat diterima serta tidak pemerintah tidak melanggar hukum, namun merugikan pemerintah. Ada celah (grey area) dalam kode pajak yang dimanfaatkan. Guna mempelajari lebih lanjut berkaitan dengan berpengaruhnya faktor termasuk kepemilikan institusional, komite audit, firm age, serta utang (leverage) atas penghindaran pajak, penelitian ini bermaksud untuk mengumpulkan fakta. Analisis menggunakan regresi berganda pada tingkat signifikansi 5% pada data yang diperoleh sebanyak 177 dari 59 perusahaan sektor barang konsumsi terdaftar di BEI periodisasi 2022-2024. Ditemukan hubungan parsial serta sinifikan secara statistik kebijakan fiskal serta faktor seperti umur perusahaan, kepemilikan institusional, komite audit, serta leverage.

Dividend policy is one of the key indicators used by investors to assess the stability and financial performance of banking companies. This study aims to analyze the effect of financial performance on the Dividend Payout Ratio in conventional banks in Indonesia during the 2021–2024 period. Financial performance is proxied by liquidity, Leverage, and profitability. This research employs a quantitative approach with an associative research design. The population consists of 43 conventional commercial banks listed on the Indonesia Stock Exchange up to 2024. The sampling technique uses purposive sampling, resulting in 24 conventional banks with a total of 96 panel data observations. The data used are secondary data obtained from the companies’ annual financial statements and analyzed using multiple linear regression. The results show that liquidity, proxied by Loan to Deposit Ratio (LDR), has a positive and significant effect on the Dividend Payout Ratio; Leverage, proxied by Debt to Asset Ratio (DAR), has a negative and significant effect on the Dividend Payout Ratio; and profitability, proxied by Return on Assets (ROA), has a positive and significant effect on the Dividend Payout Ratio. Furthermore, liquidity, Leverage, and profitability simultaneously have a significant effect on the Dividend Payout Ratio in conventional banks in Indonesia. This study indicates that the company’s financial performance is a key factor in determining dividend policy in the banking sector.

Stock price volatility in the technology sector has become an important concern for investors due to the sector’s high uncertainty, rapid business transformation, and sensitivity to economic changes. Understanding the financial factors that influence stock price fluctuations is therefore essential for improving investment decision-making and risk assessment. This research investigates the influence of financial performance, leverage, and earning volatility on the stock price volatility of technology companies listed on the Indonesia Stock Exchange during the 2022–2024 period. A quantitative causal approach was employed using secondary data obtained from annual financial statements and stock market data. The sample consisted of 23 technology companies selected through purposive sampling, resulting in 69 observations. Multiple linear regression analysis was applied after fulfilling the classical assumption tests. The findings indicate that financial performance, proxied by Return on Assets (ROA), has a negative but insignificant relationship with stock price volatility, while leverage, measured by Debt to Equity Ratio (DER), shows a positive but insignificant effect. In contrast, earning volatility demonstrates a positive and statistically significant influence on stock price volatility. Simultaneously, the three independent variables significantly affect stock price volatility, although the explanatory power of the model remains relatively limited. These findings provide additional empirical evidence regarding signaling theory in the context of emerging capital markets and highlight earning volatility as a key consideration for investors when evaluating technology-sector stocks characterized by high uncertainty and dynamic business environments.

The banking business is confronted with more intricate risks as a result of digital revolution, more regulation, and shifting financial market conditions. It is the purpose of this research to examine how state-owned banks in Indonesia fare financially in relation to ERM, corporate governance, risk management information systems, and leverage. This study employs a quantitative explanatory methodology based on secondary data culled from the 2018–2025 annual reports, financial statements, and corporate governance reports of Bank Mandiri, BRI, BNI, and BTN. Descriptive statistics, assessments of classical assumptions, and multiple linear regression were employed to examine the records. The results demonstrate that Enterprise Risk Management influences financial performance in a favorable and statistically significant way, suggesting that integrated risk management contributes to increased profitability. The fact that leverage has a positive effect indicates that, with good management, debt can boost financial performance. When looking at corporate governance, the size of the board of commissioners is not a strong indicator of financial performance. On the other hand, there is a notable impact from the risk management information system, however it is important to approach its interpretation with care because of multicollinearity and the lack of data variation. According to these results, in order for state-owned banks to keep their financial performance in the long run, they should optimize their leverage, increase the quality of their risk information systems, and enhance integrated risk management.

This study analyzes the regulatory gaps in digital forensics regarding the handling of natural resource crimes and the state’s constitutional responsibilities following the enactment of Law No. 1 of 2024. Modern natural resource crimes, such as illegal logging and illegal mining, have evolved to leverage digital technology, leaving complex electronic traces in the form of GPS data and digital documents. However, Indonesia still faces procedural gaps in the Criminal Procedure Code (KUHAP), unclear technical standards (SNI 27037:2014 is voluntary in nature), and conflicts between the Information and Electronic Transactions Law (UU ITE) and sectoral NRE laws. This normative legal study employs legislative, conceptual, and case-based approaches. The research findings indicate that the absence of digital forensic authentication standards has fatal implications, as evidenced by the Sidoarjo District Court Decision No. 488/Pid.B/2024/PN Sda, which rejected electronic evidence. This situation constitutes state negligence (staatsverzuim) that violates Article 1(3) and Article 33(3) of the 1945 Constitution of the Republic of Indonesia. The study recommends the development of standard digital forensic procedures, the acceleration of ISO/IEC 17025 laboratory accreditation, and the harmonization of sectoral regulations

Stock prices are an important indicator influencing investment decision-making. High stock prices reflect positive market perceptions of company performance and increase investor interest in investing. This study aims to analyze the influence of Return on Equity (ROE), Debt to Equity Ratio (DER), Corporate Social Responsibility (CSR), and Good Corporate Governance (GCG) on stock prices of cosmetic and household goods companies listed on the Indonesia Stock Exchange for the period 2019–2023. The sampling method used purposive sampling with a total of 6 companies or n = 36. The data used are secondary data in the form of annual financial statements and stock prices. The analytical method applied is multiple linear regression using IBM SPSS version 29. The results show that partially ROE and GCG have no significant effect on stock prices, DER has a significant negative effect, while CSR has a significant positive effect on stock prices. Simultaneously, ROE, DER, CSR, and GCG significantly affect stock prices. These findings highlight that leverage and corporate social responsibility play an important role in determining the market value of companies in the cosmetics and household goods industry.