International Journal of Education Management and Religion
Journal Title : International Journal of Education Management and Religion E-ISSN : 3090-3149 DOI Prefix : 10.71305 Editor in Chief : Muh Ibnu Sholeh Publisher : Pondok pesantren As-salafiyah As-Safi'iyyah Frequency : January and July Citation Analysis : | International Copernicus(ICI) | Garuda | Google Scholar | Dimension | Crossref | BASE (Bielefeld Academic Search Engine) | Scilit| International Journal of Education Management and Religion (IJEMR) is a multidisciplinary academic journal that explores the complex intersection of education management and religious values in various cultural and international contexts. The journal provides a platform for academics, educators, and policymakers to discuss theories, research findings, and case studies related to educational leadership and the role of religion in shaping educational practices and policies worldwide. Focus and Scope: The journal highlights topics such as: Education Management: Investigating effective management practices and leadership strategies within educational institutions, including governance, organizational culture, and policy development. Religious Influence on Education: Analyzing the impact of religious beliefs on curriculum design, pedagogy, student engagement, and institutional identity. Comparative Studies: Examining how different religious traditions influence educational systems across countries, promoting cross-cultural understanding and dialogue. Policy and Governance: Addressing the role of religious considerations in educational policymaking, particularly in multicultural and pluralistic societies. General Management: Exploring broader principles, theories, and practices of management, including strategic management, organizational change, innovation, transformational leadership, and the application of technology and digitalization in managing educational institutions and faith-based organizations. Publication Features: Peer-Reviewed Articles: Rigorous academic studies offering new insights into the management of educational institutions influenced by religious principles. Case Studies: In-depth analyses of specific educational contexts where religion plays a crucial role. Theoretical Contributions: Comprehensive discussions on frameworks and models that integrate religion with educational leadership and management. Practical Applications: Strategies for educational leaders to balance religious values and academic standards in diverse educational environments. Target Audience: The journal is intended for academics, educational administrators, researchers, religious scholars, and policymakers interested in the dynamic relationship between education management and religious contexts. Publication Frequency: IJEMR publishes issues twice a year on January and July, featuring special editions that address emerging themes and trends at the intersection of education, management, and religion.
Pondok pesantren As-salafiyah As-Safi'iyyah
The Influence Of Live Commerce On Tiktok Platform And Discount Vouchers On Consumer Purchasing Decisions For Cosmetic Products In Palopo City
This study aims to analyze the influence of Live Commerce on the TikTok platform and Discount Vouchers on Consumer Purchasing Decisions for Cosmetic Products (Study on Female Students of the Faculty of Economics and Business Unanda Class of 2023). Female students tend to be more interested in making purchases when exposed to live promotional broadcasts of products on TikTok accompanied by discount offers. This study uses a quantitative approach with a survey method, involving 73 student respondents selected through purposive sampling techniques. Data was collected using structured questionnaires and analyzed using multiple linear regression. The results show that live commerce on the TikTok platform has a significant positive influence on consumer purchasing decisions, meaning that the more attractive and interactive the live commerce content displayed on the TikTok platform, the greater the likelihood of consumers to make purchasing decisions for the cosmetic products offered. Conversely, discount vouchers have a significant negative influence, meaning that the use of discount vouchers does not always encourage purchases, and in this context can actually reduce consumer trust or urgency to immediately buy cosmetic products. This study provides implications for female students to be wiser in responding to digital marketing strategies such as live commerce and discount vouchers when purchasing cosmetic products
Copyright (c) 2026 Nurjannah, Munawir, Muhammad Isnaini Faizal, Muh. Haekal Yunus https://creativecommons.org/licenses/by/4.0
The Sweet Consumption Trap: The Role Of Brand Image And Sensory Appeal In Sustaining High-Sugar Beverage Consumption
Despite increasing awareness of the health risks associated with excessive sugar consumption, the demand for high-sugar beverages remains persistently high. This phenomenon suggests that factors beyond rational health considerations play a critical role in shaping sustained consumption behavior. This study aims to examine the roles of brand image and sensory appeal in sustaining high-sugar beverage consumption, with emotional attachment serving as a mediating mechanism and health risk awareness included as a control variable. Using a quantitative approach, data were collected through a survey of high-sugar beverage consumers and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS. The results indicate that both brand image and sensory appeal have significant positive effects on emotional attachment and continuance purchase intention. Emotional attachment emerges as a key predictor of continuance purchase intention and partially mediates the relationships between brand image, sensory appeal, and sustained consumption behavior. Health risk awareness is found to negatively influence continuance purchase intention, although its effect is weaker compared to affective and sensory-driven factors. These findings highlight the presence of a sweet consumption trap, in which emotional and sensory mechanisms reinforce continued consumption despite consumers’ awareness of health risks. The study contributes to the literature by offering an integrated framework that explains the persistence of unhealthy consumption and provides insights for both marketing strategy and public health interventions.
Copyright (c) 2026 Achmad Ridha, Fina Ruzika Zaimar https://creativecommons.org/licenses/by/4.0
The Influence Of Emotional Intelligence On Employee Performance In The Business Sector
: Emotional intelligence (EI) refers to an individual's ability to recognize, understand, and manage their own emotions and those of others. In the context of everyday life, EI plays a crucial role in dealing with various challenges and problems that arise. Individuals with high levels of emotional intelligence tend to demonstrate greater resilience when faced with failure. This ability not only contributes to personal development but also influences social interactions and interpersonal relationships. Several previous studies on the effect of EI on performance have shown conflicting results. Therefore, this study aims to re-examine the effect of EI on employee performance, but with the analysis focused on employees in the business sector in Makassar. By further exploring the importance of emotional intelligence in everyday contexts and its impact on individual performance, both in social and professional settings, it is hoped that this will provide broader insight into the importance of EI in supporting employee performance. The quantitative approach was conducted through simple regression analysis, first collecting data from 100 selected respondents working in the business sector. Prior to data collection, the research instrument was tested for validity and reliability, with the results showing that all indicators were valid and reliable. The analysis showed that emotional intelligence has a positive and significant effect on employee performance in the business sector. The better a person's emotional intelligence of employee, the better their work performance. The implication of this research is that companies are advised to develop training programs focused on developing employee emotional intelligence. This training can cover a variety of aspects, from an introduction to the concept of EI and emotional management techniques to communication and empathy skills. By providing this training, companies not only improve individual skills but also create a more collaborative and supportive work culture.
Copyright (c) 2026 Nabila Mukmininah Jibril, Lidya Anastasya, Hadira Thumaninah Jibril https://creativecommons.org/licenses/by/4.0
The Role of Artificial Intelligence in Improving the Performance of Green Marketing for SMEs
Artificial Intelligence (AI) has emerged as a transformative force in the evolution of digital marketing, particularly for small and medium-sized enterprises (SMEs) striving to integrate sustainability into their competitive strategies. This study analyses the contribution of AI technologies to enhancing the performance and efficiency of green marketing initiatives within SMEs operating in the digital economy. The research employs a systematic literature review method by synthesizing peer-reviewed publications from 2020 to 2025. The findings demonstrate that AI-driven applications—such as machine learning, predictive analytics, and automated engagement systems—enable SMEs to personalize eco-oriented messages, identify environmentally conscious consumer segments, and measure campaign outcomes with higher precision. Moreover, the adoption of AI supports improvements in resource efficiency, targeting accuracy, and assessment of both social and environmental impacts. The evidence further indicates that SMEs utilizing AI in sustainable marketing experience increased customer loyalty, stronger brand reputation, and greater long-term competitiveness. Despite these benefits, several challenges remain, including limited digital readiness, high implementation costs, and insufficient technological capabilities among SMEs. Overall, integrating AI into green marketing practices presents a promising pathway for SMEs to achieve sustainable growth while meeting the expectations of environmentally aware consumers in the digital era. Future research is encouraged to develop affordable and user-friendly AI tools tailored to the marketing needs of small businesses.
Copyright (c) 2026 Fills Prayoga, Diah Probowulan, Haris Hermawan https://creativecommons.org/licenses/by/4.0
The Management Of Innovation Initiation In Islamic Education And Its Implications For Madrasah Competitiveness: A Multisite Qualitative Study
This study examines the management of innovation initiation in Islamic education and its implications for strengthening madrasah competitiveness, using MAN 2 Tulungagung and MAN 2 Kota Kediri as multisite cases. While existing studies on Islamic educational innovation primarily focus on implementation and outcomes, the initiation phase of innovation remains underexplored, particularly in the context of madrasah management. Employing a qualitative phenomenological approach within a naturalistic paradigm, this research explores how innovation initiation is strategically managed across three domains: curriculum, student development, and human resources (teachers). The findings indicate that innovation initiation is driven by benchmarking, internal awareness building, and systematic identification of student potential through psychological and talent–interest assessments. MAN 2 Tulungagung initiated innovation through talent-based superior classes and differentiated instruction aligned with the Merdeka Curriculum, supported by structured teacher development. In contrast, MAN 2 Kota Kediri adopted an integrative model that connects intrakurikuler, kokurikuler, and ekstrakurikuler programs through its “Red Carpet” philosophy, emphasizing holistic talent development and character formation. Across both sites, innovation initiation is characterized by collaborative decision-making, curriculum flexibility, professional learning communities, and strong leadership commitment. This study contributes novel insights by conceptualizing innovation initiation as a strategic managerial process that precedes implementation and directly shapes institutional competitiveness. It demonstrates that innovation initiation grounded in Islamic educational values functions as a foundational driver of academic excellence, institutional differentiation, and sustainable competitive advantage in contemporary madrasahs.
Copyright (c) 2026 Hawwin Muzakki, Ngainun Na’im; Mujamil Qomar https://creativecommons.org/licenses/by/4.0
Integrating Islamic Values In The Development Of The Merdeka Campus Curriculum: Enhancing Student Independence In Islamic Higher Education
Islamic university students today face serious challenges in the form of low learning independence. Many of them still depend on their lecturers' guidance, lack initiative in exploring knowledge, and are not yet fully capable of managing their own learning independently. This study aims to examine how the development of the MBKM curriculum in PTKI can enhance students' learning independence and support the realization of impactful campuses. This research uses a qualitative approach with a case study design, conducted at Nahdlatul Ulama University Surabaya (UNUSA) and Yudharta University Pasuruan. Data collection techniques were carried out through in-depth interviews, observations, and documentation, with data analysis using data condensation, data presentation, conclusion drawing, and verification. The research results show that the development of the MBKM curriculum at both universities encourages students to learn actively, independently, and reflectively through programs such as internships, entrepreneurship, teaching on campus, and community service. Independent learning is reflected in students' ability to manage the learning process, make decisions, and take responsibility for their learning achievements. In addition, Islamic values also frame this process, resulting in learners who are not only academically excellent but also ethical and contribute significantly to society. Thus, the contextually developed MBKM curriculum has proven to be an important instrument in shaping independent students while also realizing an impactful campus.
Copyright (c) 2026 Akhyak; Sahri; Agus Eko Sujianto, Binti Maunah, Agus Zaenul Fitri, Ahmad Tanzeh https://creativecommons.org/licenses/by/4.0
The Implementation of Islamic Teachings Based on Local Wisdom: A Study of Pre-Islamic Arab Cultural Practices Adopted into Islamic Law
The study aims to examine how certain pre-Islamic Arab cultural practices were legislated into Islamic teachings and how they continue to influence Islamic practices today. To achieve this, Islam established rules for carrying out daily activities based on the teachings of Allah SWT and His Messenger. However, this did not automatically erase all the pre-Islamic Arab culture and traditions; rather, the positive aspects were preserved and maintained by Islam as part of its teachings. The method used in this research is a library research with a qualitative descriptive approach, while data collection is carried out through documentation from books and journal articles, and data analysis is conducted using content analysis. The results of the study show several pre-Islamic Arab traditions and cultures that were legislated into Islamic teachings and are implemented by Muslims, including respecting guests, giving charity, keeping promises, trading, acquiring knowledge, and helping one another. These traditions and cultures are affirmed as part of Islamic teachings, supported by several verses of the Qur'an and hadiths to implement these practices.
Copyright (c) 2026 M. Munif https://creativecommons.org/licenses/by/4.0
Strategic Planning And Recruitment Of Islamic Education Personnel At Madrasah Ibtidaiyah Ta’allumussibyan
This study aims to analyze human resource planning and recruitment at Madrasah Ibtidaiyah (MI) Ta'allumussibyan in the context of Islamic education. Professional and spiritually integrated human resources are key to the success of Islamic educational institutions. Using a quantitative descriptive approach, data was collected from 13 teachers using a questionnaire consisting of 30 statements related to two main sub-variables: HR planning and recruitment. The results of the analysis show that the HR planning aspect received an average score of 4.29, while recruitment received a higher score of 4.53. This reflects that MI Ta'allumussibyan has implemented a fairly effective HR management system that is in line with Islamic values. The findings indicate that planning has been aligned with the madrasah's vision and mission and the actual needs of educators, although formal documentation and long-term planning still need to be improved. On the other hand, the recruitment process shows high professionalism, with assessments of the ability to read the Qur'an, understanding of Islamic values, and the involvement of religious leaders in the selection process. However, there are still weaknesses in the transparency of the selection assessment system and the potential for nepotism. This study recommends improvements in policy documentation and broader stakeholder involvement in the planning and recruitment processes. By strengthening data-driven strategies and spiritual values, the madrasah can enhance the quality of Islamic education sustainably. The findings of this study are also relevant as a reference for other madrasahs with similar characteristics.
Copyright (c) 2026 Dennis Haruna, Zulfani Sesmiarni https://creativecommons.org/licenses/by/4.0
Exploring The Impact Of Auditor Independence, Dysfunctional Behavior And Professional Skepticism On Audit Quality
This study aims to examine the effect of auditor independence, dysfunctional auditor behavior, and professional skepticism on audit quality. Using a quantitative approach, the research adopts a positivist paradigm that assumes behavioral constructs can be objectively measured and statistically analyzed to determine causal relationships. The study was conducted in Batam, Indonesia, with auditors working in public accounting firms registered in the 2025 IAPI directory. The total population consisted of 14 public accounting firms, and the sampling technique used was census sampling (saturated sampling), which included all eligible auditors to ensure a comprehensive representation of audit practices in the region. Primary data were collected through structured questionnaires distributed via Google Forms using a five-point Likert scale ranging from 1 (strongly disagree) to 5 (strongly agree). Data analysis SPSS due to its suitability for handling complex relationships among latent variables with relatively small to medium sample sizes. The results based on Table 2 show that the independence variable has a t-value of 2.269 > t-table 1.98498 with a significance level of 0.000 < 0.05, indicating that independence significantly affects audit quality. The dysfunctional auditor behavior variable shows a t-value of 2.657 > 1.98498 and a significance of 0.000 < 0.05, meaning it significantly influences audit quality. Similarly, professional skepticism has a t-value of 2.997 > 1.98498 and a significance of 0.000 < 0.05, confirming its significant impact on audit quality. Overall, the findings highlight that independence, auditor behavior, and professional skepticism are key determinants of audit quality in public accounting firms in Batam.
Copyright (c) 2026 Kelvin, Handra Tipa https://creativecommons.org/licenses/by/4.0
The Influence Of Workload, Work-Life Balance And Psychological Contracts On Employee Job Satisfaction Case Study: PT. PLN (Persero) Transmission Implementation Unit Makassar
This study aims to determine the effect of workload, work-life balance, and psychological contract on employee job satisfaction at PT. PLN (Persero) Makassar Transmission Implementation Unit. This study uses a quantitative approach with a survey method. Data was collected through a questionnaires distributed to all 56 employees. The data collection techniques used were observation, interviews, and questionnaires. The data analysis technique used was multiple linear regression with SPSS Software. The results of the study indicate that partially, workload has a negative and significant effect on employee job satisfaction, while work-life balance and psychological contracts have a positive and significant effect on employee job satisfaction. Simultaneously, workload, work-life balance, and psychological contracts have a significant effect on employee job satisfaction at PT. PLN (Persero) Makassar Transmission Implementation Unit.
Copyright (c) 2026 Safirah Era Lestari Abrianti, Muhammad Ichwan Musa, Rezky Amalia Hamka https://creativecommons.org/licenses/by/4.0
Zakat, Islamic Corporate Social Responsibility And The Implementation Of Sharia Good Governance On The Reputation Of Sharia Commercial Banks
This study examines the influence of Zakat, Islamic Corporate Social Responsibility (ICSR), and Sharia Good Governance (GGBS) on the reputation of Sharia Commercial Banks in Indonesia. Reputation plays a central role in shaping public trust and strengthening the institutional credibility of Islamic financial institutions, particularly as the industry continues to expand in alignment with national and global Islamic finance agendas. Using a quantitative approach, this research analysed secondary data obtained from annual reports of Islamic commercial banks registered with the Financial Services Authority (OJK) for the 2019–2023 period. Multiple linear regression was employed to measure both the individual and simultaneous effects of the three independent variables on bank reputation. The findings reveal that zakat exerts a significant positive effect on reputation, demonstrating its strategic role as both a religious obligation and an instrument of socio-economic empowerment. Zakat distribution functions as a credible signal that reinforces stakeholder trust and enhances institutional legitimacy. Conversely, ICSR does not show a significant effect on reputation, indicating that current CSR disclosures may not yet be perceived as strong value drivers by the public or may lack strategic visibility. Meanwhile, Sharia Good Governance (GGBS) demonstrates a significant positive influence, affirming the importance of transparency, accountability, compliance, and ethical governance in shaping the reputation of Islamic banks. Overall, the study highlights the need for Islamic banks to strengthen governance mechanisms and optimise zakat management to reinforce public confidence. It also suggests that ICSR practices require greater strategic alignment and communication to meaningfully contribute to institutional reputation.
Copyright (c) 2026 Riyanto Setiawan Suharsono, Ibna Kamelia Fiel Afroh, Gardina Aulin Nuha, Muhammad Firman Febriansyah https://creativecommons.org/licenses/by/4.0
Transformational Leadership In Building Sustainable Human Resources In The Digital Era
The rapid advancement of digital technology has reshaped organizational systems, work structures, and human resource practices across all sectors. As automation, artificial intelligence, and data-driven processes increasingly define operational models, organizations face the urgent challenge of sustaining a capable, motivated, and future-ready workforce. In this context, leadership becomes a determining factor in navigating digital transformation effectively. This study examines the role of transformational leadership in building sustainable human resources in the digital era. Transformational leadership characterized by vision, inspiration, intellectual stimulation, and individualized consideration aligns strongly with the demands of digital transformation, where continuous learning, adaptability, and innovation are essential. Drawing on an integrative literature review, this study synthesizes findings from recent empirical and conceptual works to identify how leadership influences employee motivation, skill development, and long-term organizational sustainability. The analysis shows that transformational leaders foster intrinsic motivation, strengthen psychological readiness for change, and promote a culture of learning and collaboration. These leadership behaviors help reduce resistance to technological disruption and support the development of digital competencies. Moreover, transformational leadership reinforces human-centered values, ensuring that technological advancement is balanced with employee well-being and organizational ethics. The findings highlight that sustainable human resource development depends not only on technological investment but also on leadership capacity to inspire trust, cultivate a supportive culture, and guide employees through ongoing change. This study concludes that transformational leadership serves as a strategic driver for creating resilient, innovative, and sustainable human resources capable of thriving in the digital era.
Copyright (c) 2026 Vivi Indriani, Trias Setyowati, Nurul Qomariyah https://creativecommons.org/licenses/by/4.0
Smart Hospitality: Key Drivers of Digital Technology Usage of Hotels in Cauayan City, Isabela, Philippines
In an era where digital innovation reshapes the hospitality industry, hotels’ ability to adopt and integrate smart technologies has become a critical determinant of competitiveness and service excellence. Thus, this study investigated the key factors influencing digital technology adoption among hotels in Cauayan City, Isabela, Philippines- an emerging tourism hub. Specifically, it aimed to (1) identify drivers affecting digital technology usage, (2) determine the level of usage of digital technologies, and (3) examine the relationships between these factors and actual technology usage. A descriptive–correlational design was employed, collecting data from 135 hotel managers and staff via a validated and reliable survey instrument (Cronbach’s α = 0.91). Using frequency and percentage distribution, weighted means, Pearson-r correlation, findings revealed that financial resources availability (M = 3.92) emerged as the most influential factor, followed by insights (M = 3.75), culture (M = 3.69), technology (M = 3.68), organization (M = 3.64), and government regulations (M = 3.54) as perceived by the respondents. Hotels demonstrated strong adoption of e-payments, smart room key systems, and mobile check-in/out, though no use of artificial intelligence, robotics and virtual reality highlighted opportunities for advanced digital integration. Correlation analysis confirmed moderate to strong positive relationships between determinants and technology usage, with organizational (r = 0.540, p = 0.001) and technological (r = 0.537, p = 0.001) factors as the strongest predictors. Cultural, insight, financial, and regulatory factors also showed significant associations. Findings suggest that hotels with strong leadership, adequate resources, technological readiness, and a culture of innovation are more likely to achieve sustainable digital transformation. The study extends the Technology–Organization–Environment and Technology Adoption Model framework to a local hospitality context and provides actionable insights for hotel managers and policymakers seeking to foster smart, data-driven, and competitive hotel operations. Keywords: digital technology adoption; smart hospitality; hotel management; Cauayan City, Isabela, Philippines
Copyright (c) 2026 Rojohn Mark P.Ramiscal, Mark Joseph Martinez, Jayson Pallaya, Rafael Villasana, Albert S. Alejandro, Client William M. Malinao https://creativecommons.org/licenses/by/4.0
The Effect Of Solvency And Operational Efficiency On The Company Value Of The Restaurant, Hotel And Tourism Subsector On The Indonesia Stock Exchange In 2019-2024
The restaurant, hotel, and tourism sectors have an important role in supporting national economic growth in Indonesia, especially through job creation to encourage Gross Domestic Product (GDP) growth by driving other sectors such as transportation, agriculture, and the food and beverage industry so that the value of companies in this sector is important to consider. However, fluctuations in the company's value are considered not only influenced by profitability, but also by capital structure and operational efficiency that are not fully optimal. Therefore, the problems in this study are focused on how solvency affects company value, how operational efficiency affects company value, and how solvency and operational efficiency affect company value simultaneously. The purpose of this study is to analyze the influence of solvency on company value, analyze the effect of operational efficiency on company value, and test the effect of solvency and operational efficiency simultaneously on company value in the restaurant, hotel, and tourism sub-sectors listed on the Indonesia Stock Exchange. This study uses a quantitative approach with secondary data in the form of corporate financial statements obtained through the official website of the Indonesia Stock Exchange and analyzed using panel data regression. The results of the study show that solvency has a significant effect on the company's value, while operational efficiency has no effect and is significant on the company's value. However, solvency and operational efficiency simultaneously affect the company's value.
Copyright (c) 2026 Putri Indah, Hety Budiyanti, Nurman https://creativecommons.org/licenses/by/4.0
The Effect Of Promotion And Brand Awareness On Customer Satisfaction At PLN ULP Polewali
The objectives of this study are (1) To determine the partial influence of Promotion and Brand Awareness on Customer Satisfaction at PLN ULP Polewali (2) To determine the simultaneous influence of Promotion and Brand Awareness on Customer Satisfaction at PLN ULP Polewali. The data collection methods used in this study were observation, interviews, questionnaires, and documentation. The sample was determined using the Slovin formula, resulting in 396 respondents. The analysis method used multiple linear regression with the help of SPSS Version 25. The results of this study indicate that (1) Partially, Promotion has a significant effect on Customer Satisfaction at PLN ULP Polewali. Partially, Brand Awareness has a significant effect on Customer Satisfaction at PLN ULP Polewali. (2) Simultaneously, Promotion and Brand Awareness have a significant effect on Customer Satisfaction at PLN ULP Polewali. The results of the determination coefficient of 0.955 indicate that the Tangible independent variable influences the dependent variable, namely 95.5%, therefore for researchers who will research with the same theme, it is recommended to add other variables that are not yet included in this study so that the research results can be better and prove the hypothesis. This will possibly provide comparative results of the influence of previous research.
Copyright (c) 2026 Pandi Putra, Bakhtiar Tijjang, Safrida, Sundari https://creativecommons.org/licenses/by/4.0
The Governance Gap And Its Implications For Destination Image And Tourist Satisfaction: A Marine Ecotourism Study In The Likupang And Bunaken
Marine ecotourism destinations possess significant economic potential but face concurrent sustainability challenges, including environmental degradation and tourist dissatisfaction. This study investigates the interplay among destination image, tourist satisfaction, and governance failures within Indonesia's Super Priority Tourism Destinations, specifically Likupang and Bunaken. Employing a qualitative phenomenological approach, this study explores the lived experiences of key stakeholders, including tourists, community members, industry operators, and academic experts, through in-depth interviews and observation. The findings reveal a significant governance gap: a disconnect between top-down development policies and on-the-ground operational realities. This gap manifests as tangible failures, including poor waste management, inconsistent service quality, and inadequate community empowerment. These factors collectively create an expectation-reality paradox that fundamentally undermines the destination image and degrades tourist satisfaction, thereby threatening the long-term viability of both sites. This study proposes a constructive governance model for sustainable marine ecotourism as its primary contribution. This model advocates a shift from a sectoral, top-down approach to a collaborative framework, specifically through a Public-Private Partnership (PPP) scheme. The proposed model aims to align economic incentives with conservation objectives by integrating pro-environmental behaviors and authentic community participation, providing a viable pathway to restore the destination image and ensure sustained tourist satisfaction.
Copyright (c) 2026 Farid, Ahmad AB, Muaz Azinuddin https://creativecommons.org/licenses/by/4.0
The Effect Of Profitability, Financial Distress And Lotteryness On Stock Return On Properties And Real Estate Companies Listed On The Stock Exchange Indonesia Period 2019-2023
This study intends to look at the effect of profitability, financial distress and lotteryness on stock returns in property and real estate companies listed on the Indonesia Stock Exchange in the 2019-2023 period. The research principle applied is a quantitative approach using multiple regression analysis. The sample collection technique uses Purposive Sampling. This study utilizes the SPSS application to process data that requires financial statements and stock prices from 10 companies studied. The results of the study revealed that profitability, financial distress and lotteyness simultaneously had a positive and significant impact on stock returns, which means that the hypothesis was accepted. Then, profitability has a negative and significant impact on stock returns, which means that the hypothesis is rejected. In addition, financial distress has a positive and significant impact on stock returns, which means that the allegations are rejected. And lastly, lotteryness has a positive and significant impact on stock returns which means that assumptions are approved. These findings indicate that increasing profitability and managing more stable financial conditions can increase investors' perception of the company's performance. In addition, understanding market perception of stocks that have lottery characteristics can be part of a communication and risk management strategy, especially in managing investor expectations for potential returns and risks.
Copyright (c) 2026 Nuzul Nidaul Fitrah Usman, Rika Dwi Ayu Parmitasari, Rusnawati https://creativecommons.org/licenses/by/4.0
Strategic Human Resource Development And Digital Leadership Toward Employee Performance In Smart Organizations
This study investigates the influence of Strategic Human Resource Development (SHRD) and Digital Leadership (DL) on Employee Performance (EP) within the context of smart organizations in Makassar City, Indonesia. The study responds to the accelerating digital transformation that requires organizations to strengthen both human capital strategies and leadership competencies. Using a quantitative explanatory design, data were collected from 150 employees and line managers across financial services, digital marketing, and telecommunication sectors through a structured questionnaire using a seven-point Likert scale. The data were analyzed with Partial Least Squares–Structural Equation Modeling (PLS-SEM) using SmartPLS 4.0. The measurement model showed satisfactory reliability and validity (CR > 0.80; AVE > 0.50), while the structural model revealed that both SHRD (β = 0.61; p < 0.001) and DL (β = 0.21; p < 0.01) significantly influence employee performance, explaining 58.2% of its variance (R² = 0.582). These results indicate that strategic HRD serves as a stronger and more direct predictor of performance, while digital leadership functions as a contextual enabler fostering innovation and adaptability. Theoretically, the study extends the Resource-Based View and Dynamic Capability Theory, demonstrating that performance in smart organizations is achieved through the synergy between structured human development and visionary leadership. Practically, it emphasizes that sustainable digital transformation in emerging economies must begin with strategic human transformation. Future research should explore mediating variables such as engagement or digital culture to enrich the conceptual framework of digital HRD.
Copyright (c) 2026 Muh. Anugrah Prabowo Putra, Fitriani, Achmad Ridha https://creativecommons.org/licenses/by/4.0
Stock Valuation Analysis Of LQ45 Companies: Free Cash Flow To Equity (FCFE) And Price To Earningratio (PER) Methods (2020-2024)
This study aims to analyze the fair value of stocks of companies listed in the LQ45 Index on the Indonesia Stock Exchange (IDX) during the 2020–2024 period using the Free Cash Flow to Equity (FCFE) and Price to Earnings Ratio (PER) methods. The main objective of this research is to provide a more comprehensive understanding of stock valuation methods that can support investors in making informed investment decisions. This research employs a descriptive quantitative method with a purposive sampling technique, resulting in 18 selected companies that consistently met the LQ45 index criteria during the study period. Data were collected from secondary sources, including financial statements, cash flow reports, and stock price data obtained from the IDX and other official financial platforms. The valuation using the FCFE method focuses on estimating intrinsic value based on projected free cash flow available to equity holders, discounted by the cost of equity, while the PER method applies a relative valuation through earnings multiples.The findings reveal differences in intrinsic value results between the two methods. Several stocks are identified as undervalued and overvalued, indicating that each valuation method provides unique perspectives: FCFE reflects a cash flow–based valuation, whereas PER emphasizes profitability ratios in the market context. The results also highlight that combining both valuation approaches can offer a more balanced investment analysis.In conclusion, this study confirms that intrinsic value analysis through FCFE and PER can serve as an effective decision-making tool for investors, particularly in volatile capital market conditions. The findings contribute to the development of valuation strategies for investment planning and portfolio management, especially for stocks with large market capitalization and high liquidity in the Indonesian capital market.
Copyright (c) 2026 Andi Maulidyah, Rusdi Raprayogha, Eka Indriyani MS https://creativecommons.org/licenses/by/4.0
The Sustainable Tourism Potential Of The “1000 STEPS” In Sitio Natipunan, Ifugao: An ASEAN Standard Community-Based Tourism Assessment
Community-based tourism (CBT) has emerged as a sustainable alternative to mass tourism, prioritizing local empowerment, environmental preservation, and cultural integrity. The “1,000 Steps” in Sitio Nagtipunan, Sto. Domingo, Alfonso Lista, Ifugao, represents an emerging tourism destination that embodies these principles by promoting community engagement and environmental stewardship. Despite its natural beauty and cultural richness, the site’s viability as a CBT destination remains underassessed. Determining its alignment with the ASEAN Community-Based Tourism (CBT) Standard is essential to establish a sustainable tourism framework that enhances local livelihoods, fosters effective governance, and strengthens environmental management. The study aimed to assess the potential of the “1,000 Steps” as a CBT site by evaluating its performance based on ASEAN CBT dimensions. Employing a descriptive research design, data were gathered from 218 respondents, including residents, tourists, and local officials, through a structured and patterned questionnaire. Statistical tools, including mean, frequency, and percentage, were utilized in the data analysis. Results revealed strong community participation and transparent governance, high partnership effectiveness, and solid contributions to social well-being. Environmental conservation practices were positively rated, while tour and guiding services achieved the highest rating, reflecting both cultural sensitivity and visitor satisfaction. However, food and beverage services and management showed moderate adherence to standards, highlighting areas for improvement in hygiene and training. Findings confirm that active community involvement enhances the sustainability of tourism. Practically, the study provides an evidence-based framework for policymakers and planners to integrate ASEAN CBT standards into rural destinations, promoting inclusive, culturally grounded, and environmentally sustainable tourism development in the Philippines.
Copyright (c) 2026 Piyaje W. Mahingyan, Angelika B. Valiente, Raiza G. Paransac, Apple B. Bucad, Rhoann P. Santos, Emanuel A. Gamiao, Client William M. Malinao https://creativecommons.org/licenses/by/4.0
Optimizing Human Resource Management To Strengthen The Education And Social Program At Yatim Mandiri Pasuruan
This study aims to analyze the implementation of human resource management in the development and empowerment program of Laznas Yatim Mandiri Pasuruan, a social institution that also focuses on improving the welfare and education of children in need, namely orphans and the poor. The purpose of this study is to later be able to understand the principles of human resource management that include several things, namely planning, training, strengthening motivation aimed at genius studio teachers, teacher ambassadors, and volunteers as drivers of the distribution program. This study uses a descriptive qualitative method, with data collection techniques through observation, interviews, and documentation of several key informants, such as genius studio teachers, teacher ambassadors, volunteers, and other program partners. The results of this study indicate that Laznas Yatim Mandiri Pasuruan has implemented an effective human resource strategy to ensure the sustainability and quality of its educational and social activities. Human resource planning is carried out based on program needs, while the recruitment process emphasizes the competence, commitment, and sincerity of prospective volunteers. Routine training and coaching activities are provided to improve the competence and professionalism of the human resources involved. In addition, performance assessments are carried out periodically, accompanied by the provision of non-material awards such as appreciation and recognition for the performance of volunteers and outstanding teachers. The results of this research interview also indicate that good human resource management contributes significantly to the success of the Yatim Mandiri Pasuruan program in improving organizational effectiveness and beneficiary satisfaction. In conclusion, the implementation of human resource management at Yatim Mandiri Pasuruan plays a crucial role in creating professional, committed, and socially responsible human resources to support the mission of independence for orphans and the underprivileged.
Copyright (c) 2026 Akhmad Khalim https://creativecommons.org/licenses/by/4.0
MSMEs Interest In Technology-Based Financing (Equity Crowdfunding)
Indonesia is a country with a high number of Micro, Small and Medium Enterprises (MSMEs) growth and has great potential for development, the development of MSMEs in Indonesia is supported by various government programs whose aim is to increase the quantity and quality of MSMEs in Indonesia. MSMEs are a business line that has a large role and potential in supporting the Indonesian economy and improving people's welfare. MSMEs have a vital role in the Indonesian economy by contributing to the increase in BPD by more than 60% or worth 8,573.89 trillion Rupiah, their ability to absorb a fairly high workforce reaching 97% of the total existing workforce, can collect up to 60.4% of total investment, equal distribution and increase income, to realize a stable, balanced and growing national economic system. This study is a multiple linear regression research that aims to examine the influence of social influence and compatibility on MSMEs’ interest in technology-based equity crowdfunding, using the grand theories of UTAUT and the Diffusion of Innovation (DOI) Theory. This research is associative in nature with a quantitative approach. The type of data used is primary data, collected through survey research by distributing questionnaires to respondents both directly and online. The respondents consisted of 140 MSMEs selected through purposive sampling, with the criteria that the respondents were MSMEs located in Makassar City and had been operating for at least two years. The results of the study reveal that the variables of social influence and compatibility have a positive and significant effect on MSMEs’ interest in technology-based equity crowdfunding.
Copyright (c) 2026 Rusnawati, Qamariah https://creativecommons.org/licenses/by/4.0
Abnormal Return And Stock Price Changes Before And After The "Trump Liberation Day" In Indonesia’s Footwear And Garment Subsectors: Evidence From BIMA, ERTX, And GJTL
International trade policy shifts often trigger a repricing of risk in equity markets, especially for export- and import-oriented industries. Daily event studies are commonly used to test short-run market reactions to well-defined events because they can extract abnormal returns (AR) from broad market dynamics using a simple yet reliable specification (e.g., the market model) (Brown & Warner, 1985; MacKinlay, 1997; Corrado, 1989). On 2 April 2025, the U.S. administration announced a tariff package widely referred to as “Liberation Day.” A universal 10% tariff became effective 5 April 2025 (12:01 a.m. EDT), followed by personalized reciprocal tariffs for major-deficit partners effective 9 April 2025 (12:01 a.m. EDT). For Indonesia, the measures are relevant for footwear and garment subsectors with U.S. export linkages. Around these dates, the Jakarta Composite Index suffered a sharp decline and a brief trading halt on 8 April 2025—an aggregate shock motivating robustness windows around 2/5/9 April to disentangle policy signals from turbulence. While policy briefs discuss macro implications, stock-market evidence for Indonesian issuers remains limited. We fill this gap by testing stock-price reactions for BIMA, ERTX, and GJTL across Short, Mid, and Long windows, and by complementing parametric tests with Corrado’s nonparametric rank test (Corrado, 1989). This study examines abnormal returns and stock price changes around the Trump “Liberation Day” for three Indonesian issuers—BIMA (footwear), ERTX (garment), and GJTL (tyre/rubber). We employ a daily event-study with the market model (OLS) across Short [−3,+3], Mid [−15,+15], and Long [−45,+45] horizons, plus robustness windows (t₀=5 and 9 April 2025) and the nonparametric Corrado rank test. Cross-issuer mean CARs are not statistically significant on all horizons for the main and robustness dates; combined Corrado tests are also insignificant. Issuer-level results show BIMA negative, ERTX positive in the long horizon, and GJTL near zero, suggesting no systematic aggregate abnormal performance during the examined period.
Copyright (c) 2026 Muhammad Rijal Alim Rahmat https://creativecommons.org/licenses/by/4.0