Journal of Studies in Academic, Humanities, Research, and Innovation
Journal Title Journal of Studies in Academic, Humanities, Research, and Innovation E-ISSN 3089-7106 DOI Prefix 10.71305 Editor in Chief SAHRI Publisher Pondok pesantren As-salafiyah As-Safi'iyyah Frequency June and December Citation Analysis | Google Scholar | Garuda |Copernicus(ICI) |BASE (Bielefeld Academic Search Engine) | Dimension |Crossref |Scilit | Journal of Studies in Academic, Humanities, Research, and Innovation(SAHRI) is a peer-reviewed academic journal published twice a year, in June and December. The journal is dedicated to publishing high-quality research articles and theoretical works from various disciplines, focusing on education, humanities, and innovative research practices. It serves as a platform for scholars, researchers, and practitioners to share their insights and contributions to the advancement of knowledge in these fields. Scope and Focus The journal accepts original research articles, review articles, and short communications on topics including but not limited to: Education: Exploring various educational theories, practices, innovations, and policies that contribute to the development of effective learning environments. Humanities: Investigating diverse aspects of the humanities, including literature, history, culture, and social sciences, and their impact on society. Management: Discussing organizational management, educational management, leadership, quality assurance, strategic development that support institutional growth and innovation, Marketing Management, Human Resource Management, Financial Management, Operation Management, Strategic Management, Risk Management, Organizational management, leadership, quality assurance, and strategic institutional development. Research Methodologies: Delving into research designs, methods, and techniques that enhance the quality of academic work across disciplines. Innovation in Education: Examining technological advancements and new approaches in teaching and learning processes. Interdisciplinary Studies: Addressing the intersections between education, Administration, Politic, humanities, and other fields, fostering cross-disciplinary research. Cultural Studies: Analyzing the role of culture in shaping education, identity, and societal development. Social Development and Policy: Investigating the role of education and research in promoting social progress, policy-making, and societal transformation. Submission Guidelines Authors interested in submitting manuscripts are required to register on the journal’s website. Detailed author guidelines are available [here], and the manuscript template can be downloaded [here]. Access and Login If you already have a registered account, please proceed to the login page to submit your manuscript or manage your submissions. Journal of Studies in Academic, Humanities, Research, and Innovation(SAHRI) is committed to maintaining high academic standards and promoting scholarly work that influences the global development of education, research, and interdisciplinary studies.
Comparison Of Moving Average Methods For Forecasting Recommendation Letters By Licensing Type In Pamekasan Regency
Recommendation letters play an important role in various aspects of life, such as applying for assistance, business permits, and support for social activities. This letter serves as a means of providing official support from the authorities to individuals or groups in need, whose numbers need to be predicted for sustainable management. The forecasting method that is widely used is Moving Average, and in this study, In this study, predictions of the number of issued recommendation letters from 2021 to 2024 were carried out using the single moving average, exponential moving average and weighted moving average methods. The results of the study showed that the single moving average method was proven to be the best method with a MAPE value of (43.8073), followed by the exponential moving average method with a MAPE value of (47.0741), and the weighted moving average with a MAPE value of (47.0741). So the forecasting method that is considered feasible is the single moving average method as shown by its MAPE range value. Thus, the single moving average method is determined to be the best forecasting method for predicting future recommendation letter issuance.
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Consumptive Behavior in Online Shopping among Office Workers in Non-Metropolitan Areas
The development of e-commerce has changed people's consumption patterns, particularly in online fashion shopping activities, which increasingly encourages consumptive behavior. This study aims to analyze the influence of online shopping frequency, promotions and discounts, social media, and financial literacy on the consumptive behavior of office workers in Ujung Loe District, Bulukumba Regency. The study used a quantitative approach with a descriptive and associative design. Data were collected through an online questionnaire using Google Forms from 120 respondents selected using a purposive sampling technique. Data analysis was performed using multiple linear regression with the help of SPSS. The results of the study indicate that partially, online shopping frequency, promotions and discounts, and social media have a positive and significant influence on the consumer behavior of office workers. Meanwhile, financial literacy does not show a significant influence partially on consumer behavior. However, simultaneously, all four variables have a significant influence on consumer behavior, with a coefficient of determination of 61.20%. This finding indicates that office workers' consumer behavior in online fashion shopping is a multidimensional phenomenon influenced by external and internal factors. The novelty of this study lies in the focus on adult office workers and the context of non-metropolitan areas, which are still relatively limited in the study of online consumer behavior.
The Influence Of Online Customer Reviews, Product Quality, And Promotions On Purchasing Decisions The Jisulife Handheld Fan On Tokopedia E-Commerce
This study aims to analyze the influence of online customer reviews, product quality, and promotional strategies on purchasing decisions for the Jisulife Handheld Fan on the Tokopedia e-commerce platform. The research employs a quantitative approach using multiple linear regression analysis. Data were collected through online questionnaires distributed to 120 Tokopedia users who have purchased Jisulife Handheld Fans. The findings show that online customer reviews, product quality, and promotions each have a positive and significant influence on purchasing decisions. Product quality is found to be the most dominant factor affecting consumer purchase intentions. The results of this research emphasize the importance of maintaining positive customer feedback, ensuring high-quality standards, and implementing attractive promotional strategies to strengthen consumer trust and stimulate buying behavior on e-commerce platforms. This study contributes to understanding the dynamics of online purchasing behavior and provides insights for marketers to optimize their digital strategies in competitive online marketplaces.
Marketing Strategy for Beauty Products Based on Halal Values and Emotional Loyalty: A Phenomenological Study of the Wardah and Emina Brands
This study explores the Phenomenology of Consumer Loyalty toward Local Halal Cosmetic Brands, focusing on two leading Indonesian brands: Wardah and Emina. Loyalty to halal brands is understood not merely as repetitive purchasing behavior, but as an emotional, spiritual, and social experience that reflects the identity of modern Muslim women. Within the increasingly competitive beauty industry, local halal brands function as symbols of moral values, national pride, and religious expressions harmonized with contemporary lifestyles. Employing a qualitative phenomenological approach, this research involved twelve Muslim female consumers aged 18–35 who have been active users of Wardah or Emina for at least two years. Data were collected through semi-structured interviews and analyzed using reflective thematic analysis. The analytic process included open coding, identification of essential meanings, and thematic clustering until data saturation was achieved.The findings reveal four key dimensions that form the phenomenological structure of loyalty: (1) spiritual loyalty as a reflection of faith, (2) emotional attachment and trust, (3) social loyalty through Muslim women's solidarity, and (4) pride in authenticity and local cultural values. These findings indicate that loyalty toward halal brands is shaped not only by rational satisfaction but also by internalized religious, affective, and cultural meanings. Theoretically, this study expands the concepts of emotional branding and halal marketing through a phenomenological perspective that positions loyalty as a meaningful lived experience. Practically, the research provides insights for marketers to develop brand communication that is authentic, spiritually grounded, and culturally honest.
The Effect Of Liquidity, Activity And Leverage Ratios On Profitability With Company Size As A Moderating Variable
The technology sector is a key driver of economic growth in today's digital era. However, during the 2021-2023 period, this sector experienced a decline in profitability, as reflected in the companies' financial reports. This issue is the background for this research, which aims to examine the influence of liquidity, activity, and leverage on profitability, as well as the potential mediating effect of firm size in technology sector companies listed on the Indonesia Stock Exchange for the 2021-2023 period. The sample selection was carried out by purposive sampling to select company samples that met the criteria for this quantitative research, which uses the Partial Least Square-Structural Equation Modeling (PLS-SEM) method. The research findings indicate that while activity and leverage each have a positive but significant impact on profitability, liquidity has a negative but negligible impact. It also shows that firm size does not mediate the impact of activity, liquidity, and leverage on profitability; these findings support the Trade-off Theory regarding the importance of balance in the use of debt, but also indicate limitations in the application of Signaling Theory in the technology sector. This study concludes that high current assets reflect inefficient use of funds. Activity has a positive but insignificant influence, indicating that increased activity has not been accompanied by efficiency in asset management. Leverage also has a positive but insignificant influence, signaling that the use of debt has not been managed optimally. Furthermore, the relationship between liquidity, activity, and leverage on profitability cannot be mediated by organizational size.
Deconstruction And Simulacra: A Postmodern Critique Of Management Science
This study analyzes management science and organizational practice through the lens of postmodernism, employing Derrida's deconstruction and Baudrillard's theory of simulacra to unpack the discursive structures and representational functions within contemporary management. Situated within the framework of Critical Management Studies (CMS), this research addresses the risk of stagnation and "formulaic radicalism" in contemporary critical scholarship, highlighting the need for more specific and nuanced analytical approaches. Consequently, the study aims to apply postmodern conceptual tools to deconstruct managerial discourse and practices. The proposed methodology is a qualitative-theoretical analysis, utilizing Jacques Derrida's deconstruction to dismantle internal logical structures and Jean Baudrillard's theory of simulacra to analyze external representational functions. The deconstructive analysis reveals that central concepts, such as leadership, are constructed upon unstable and hierarchical binary oppositions (e.g., Leader/Follower). Concurrently, the analysis of simulacra demonstrates that practices like Corporate Social Responsibility (CSR) often function as pure simulacra within a managerial hyperreality, where image supersedes substance. A synthesis of these findings suggests that managerial discourse is not a neutral reflection of reality but a productive force that actively constructs reality to serve specific power relations. This study contributes to CMS by offering a more nuanced postmodern analytical model. It also positions critique as a Foucauldian intervention, opening possibilities for more ethical, reflective, and emancipatory management practices.
Capital Market Reaction Analysis Before And After The Implementation Of The Makan Bergizi Gratis (Mbg) Program
This study aims to analyze the capital market reaction to the implementation of the Makan Bergizi Gratis (MBG) Program announced by the Indonesian government on January 6, 2025, focusing on food and beverage subsector companies listed on the Indonesia Stock Exchange (IDX). The main research problem is whether there are differences in abnormal return and trading volume activity (TVA) before and after the policy implementation. The study employs an event study method with a comparative approach, using stock closing prices and trading volume data over a 21-day observation period (10 days before and after the event). The sample was selected through purposive sampling, consisting of 54 companies. Data analysis was conducted using the Paired Sample T-Test for normally distributed data. The results show significance values of 0.459 for abnormal return and 0.135 for trading volume activity, both exceeding the 0.05 significance level. This indicates that there is no significant difference before and after the implementation of the MBG program. These findings suggest that the MBG policy did not generate a meaningful market reaction and is perceived as a long-term social policy rather than a direct economic stimulus affecting corporate performance. The results align with the efficient market hypothesis and signaling theory, which posit that markets only respond to events containing strong economic information. Therefore, the MBG policy was not regarded as a significant economic signal by investors during the observation period. Keywords: Abnormal Return; Trading Volume Activity; Makan Bergizi Gratis Program; Event Study; Market Reaction
The Influence Of Asset Growth And Capital Structure On Profitability In The Food And Beverage Sub-Sector Companies Listed On The Indonesian Stock Exchange For The 2020-2024 Period
This study aims to analyze the influence of asset growth and capital structure on profitability in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2020–2024 period. The research was motivated by the dynamic competition within the food and beverage industry, which demands companies to maintain efficient asset management and an optimal capital structure to sustain profitability. Using a quantitative approach with multiple linear regression analysis, data were collected from 17 companies that met the research criteria, resulting in 85 firm-year observations. The results of the t-test show that asset growth has a positive but not significant effect on profitability (ROA), while the Debt to Equity Ratio (DER) has a positive and significant effect. Furthermore, the F-test indicates that both variables simultaneously have a significant effect on profitability, implying that the model used is feasible to explain the relationship between independent and dependent variables. These findings suggest that efficient asset expansion combined with a balanced capital structure can enhance corporate profitability. The study supports financial theories such as the Trade-Off Theory and Pecking Order Theory, emphasizing the importance of balancing internal and external financing for sustainable financial performance. The research contributes empirically to understanding profitability determinants in Indonesia's manufacturing sector. It also provides practical implications for corporate managers to optimize asset growth strategies and debt management. However, the study is limited by its sample size and observation period, so future research is recommended to expand the sample scope and include other financial variables.
The Influence Of Financial Literacy On Household Financial Management Among Fishermen In Watolo Village, Central Buton Regency
This study aims to examine the extent to which financial literacy influences the financial management ability of fishing households in Watolo Village, Central Buton Regency. Fishermen are a community group that depends heavily on weather conditions and market dynamics, making their income unstable between fishing and lean seasons. In such conditions, the ability to manage income becomes an essential factor in maintaining family economic resilience. Financial literacy, which includes knowledge, attitudes, and skills in understanding and managing personal finances, is believed to play a significant role in improving the welfare of fishermen. This research employs an associative quantitative approach involving 60 respondents who are active heads of fishing households in Watolo Village. Data were collected through a Likert scale questionnaire and analyzed using simple linear regression. The results indicate that financial literacy has a positive and significant effect on household financial management, with a regression coefficient of 0.430, R value of 0.542, R² of 0.294, and a significance level of 0.000 (<0.05). These findings confirm that the higher the level of financial literacy, the better the fishermen’s ability to manage income, record financial flows, and plan long-term savings. The implication of this study is the need for community-based financial education programs and coastal economic empowerment policies tailored to the income characteristics of fishermen to strengthen their resilience against seasonal risks. Keywords: financial literacy; financial management; fishermen household; Central Buton
Cryptocurrency And Environmental Sustainability: A Narrative Review From A Financial Management Perspective
: Bitcoin’s rise as a decentralized digital asset has been accompanied by serious concerns over its environmental impact. This paper examines Bitcoin’s energy consumption, carbon emissions, and environmental footprint from a financial management perspective, emphasizing the implications for ESG risk, capital allocation, and sustainability disclosure. Employing a structured literature review, this study synthesizes 2023–2024 research on Bitcoin’s environmental damages and evaluates technological and policy mitigation strategies. Findings show Bitcoin’s annual energy use exceeds 130–175 TWh, contributing to over 90 MtCO₂ emissions, with substantial reputational and financial risks for firms involved. Policy responses including bans, taxation, and mandatory disclosure are shaping the crypto ecosystem. From a financial standpoint, Bitcoin’s sustainability performance increasingly affects investment access, cost of capital, and long-term viability. This research urges financial managers to actively mitigate and disclose crypto-linked environmental risks. Building on these findings, the paper further highlights how Bitcoin-related environmental externalities are no longer peripheral issues but have become material financial risks that must be integrated into strategic decision-making. Institutional investors, lenders, and asset managers are increasingly incorporating climate-related metrics into portfolio evaluation, thereby intensifying scrutiny of crypto-exposed firms. The study also discusses how ESG-oriented regulations and global climate commitments amplify pressure on financial institutions to reassess their exposure to energy-intensive digital assets. Moreover, advances in renewable energy adoption, efficiency improvements in mining hardware, and shifts in consensus mechanisms are evaluated as partial mitigation pathways, though their financial feasibility remains uneven.
Digital Finance And Esg Convergence In Gold Markets: Technologies, Standards And Market Impacts
The gold market has long served as a reliable store of value and a strategic hedge during periods of economic turbulence. In the digital age, the market is undergoing a profound transformation driven by financial technology innovation. Digital trading platforms, blockchain-based tokenization, and fintech solutions are redefining how investors buy, sell, and verify ownership of gold, enhancing both transaction speed and transparency. According to the World Gold Council (2022), digital channels now facilitate over 40% of global gold transactions, demonstrating the rapid expansion of digital finance in this sector. Sustainability challenges persist only about 10% of newly mined gold has traceable origin verification (OECD, 2021), limiting ESG compliance and eroding investor trust. Empirically examines how blockchain, fintech platforms, and artificial intelligence (AI) can enhance ESG integration, transparency, and traceability across the gold investment ecosystem. Using a mixed empirical analytical approach with secondary data from the World Gold Council (WGC), International Monetary Fund (IMF), and Scopus-indexed studies (2019–2024), the findings reveal that digital finance mechanisms increase ESG reporting accuracy by 38% and reduce transaction opacity by 27%. The integration of blockchain based auditing and AI driven ESG analytics strengthens accountability and investor confidence while promoting sustainable financial practices. The study offers a comprehensive theoretical empirical framework linking digital finance innovation with ESG outcomes, supporting a more transparent, ethical, and resilient global gold market.
Digitalization And Smart Operations As Drivers Of Business Performance And Work Life Balance Among Mompreneurs In Makassar
This study investigates how digitalization and smart operations influence business performance and work–life balance among mompreneurs in Makassar, Indonesia. The rapid growth of digital platforms has opened opportunities for women entrepreneurs, yet many still face challenges in managing time, operational efficiency, and family responsibilities simultaneously. Therefore, this research aims to analyze how digital adoption and operational discipline contribute to both entrepreneurial success and personal well-being. The study employs a sequential explanatory mixed-method design, beginning with quantitative analysis of 154 survey responses using reliability testing and Partial Least Squares Structural Equation Modeling (PLS-SEM), followed by qualitative interviews with ten mompreneurs to capture practical insights. The quantitative findings reveal that digitalization and smart operations significantly and positively affect business performance (β = 0.46 and 0.31, p < 0.001) and work–life balance (β = 0.50 and 0.32, p < 0.001), with R² values of 0.457 and 0.449, respectively. The qualitative analysis supports these results, showing that digital tools such as online marketplaces, QR-based payments, and social media marketing enhance flexibility, confidence, and family collaboration. The synthesis of both phases confirms that digitalization and smart operations function as complementary enablers of inclusive and sustainable entrepreneurship for women. The study concludes that strengthening digital literacy, improving process discipline, and fostering peer mentoring can help mompreneurs achieve higher productivity while maintaining family harmony.
The Influence Of Financial Literacy On Investment Decisions Of Generation Z In Maros Regency (Case Study Of Generation Z In Lau District)
: Generation Z in the digital era has easy access to various investment instruments, but differences in financial literacy levels often affect the quality of their investment decisions. This study aims to examine the extent to which financial literacy influences investment decisions among Generation Z in Lau District, Maros Regency. This study used a quantitative approach with a survey method, in which 60 respondents were selected through a purposive sampling technique. Data were collected using a questionnaire with a Likert scale, then analyzed through a series of statistical tests including validity, reliability, normality, heteroscedasticity, and simple linear regression. The results of the study show that financial literacy has a positive and significant influence on investment decisions, with a correlation coefficient (R) of 0.991 and a determination coefficient (R²) of 0.983. This indicates that 98.3% of the variation in investment decisions can be explained by financial literacy. These findings confirm that the better an individual's level of financial literacy, the more rational and appropriate investment decisions they make. Practically, these results emphasize the importance of improving financial literacy among the younger generation to encourage intelligent, rational, and long-term goal-oriented investment behavior, especially in areas with varying levels of financial literacy, such as Lau District.
Analysis and implications of communication, competence, and workload on the performance of regional financial agencies in parepare city
This research was conducted with the aim of knowing and analyzing the influence of communication, competence and workload on the performance of the Regional Financial Agency of Parepare City. This study uses a qualitative and quantitative approach to determine the causal relationship (influence) between the independent and dependent variables. This research was conducted at the Regional Finance Agency of Parepare City. This study was conducted for approximately two months, from May to July 2025. The population and sample in this study were 72 civil servants. The results of this study indicate that communication (X1) with tcount 2.182 > ttable 1.995 and a significant level smaller than 0.05 (sig = 0.030 < 0.05), it can be said that communication (X1) has a positive and significant effect, competence (X2) with t count 2.246 > t table 1.995 and a significant level smaller than 0.05 (sig = 0.015 < 0.05), it can be said that competence (X2) has a positive and significant effect. workload (X3) with t count 3.880 > t table 1.995 and a significant level smaller than 0.05 (sig = 0.000 < 0.05), it can be said that workload (X3) has a positive and significant effect. The calculated F result is 89,270 > F table, which is 2.74 with a probability value of 0.000, which means it is below the significance value of 0.05.. Keywords: Communication, Competence, Workload and Performance
Building Buying Interest In The Digital Era: The Role Of Influencers, Promotional Content And MJB Beauty's Brand Image
This study examines the influence of influencers, promotional content, and brands on the buying interest of MJB Beauty, a local cosmetics brand in Indonesia. The problem studied is the inconsistency of the influence of digital marketing strategies on consumer buying interest, especially in beauty products. The purpose of the study was to analyze the partial and simultaneous influence of influencers, promotional content, and brands on buying interest. This study used a quantitative method with a multiple linear regression approach, involving 100 respondents who were Instagram followers of influencer MJB Beauty. Data were analyzed using SPSS version 25. The results showed that influencers and promotional content partially had a positive and significant effect on buying interest, with t-calculated values of 5,533 (p=0.000) and 5,956 (p=0.001), respectively. However, brands did not have a significant effect partially (t-count=0.630, p=0.530). Simultaneously, the three variables had a positive and significant effect (F-count=108.491, p=0.001) with a contribution of 77.2% to buying interest. The study concluded that marketing strategies involving influencers and engaging promotional content are highly effective, but MJB Beauty needs to strengthen its brand identity to increase buying interest.
The Effect Of Dividend Policy, Profitability And Liquidity On Firm Value: Evidence From Manufacturing Companies Listed On The Indonesia Stock Exchange
: Research approach was employed using panel data regression analysis. Model selection was determined through a series of diagnostic tests, namely the Redundant Fixed Effects Test and the Hausman Test, which indicated that the Fixed Effects Model (FEM) is the most appropriate estimation method. The data used are secondary data obtained from the companies’ annual financial reports during the research period. The results show that, individually, liquidity has a statistically significant positive effect on firm value, whereas dividend policy and profitability do not exhibit significant effects. This suggests that a company’s ability to meet its short-term obligations serves as a positive signal to investors, enhancing their perception of the firm’s stability and trustworthiness in terms of performance. Meanwhile, the insignificance of dividend policy and profitability implies that investors do not rely solely on these factors when evaluating firm value instead, they may consider broader strategic, market, or macroeconomic indicators. The coefficient of determination (R²) is 0.848588, indicating that approximately 84.85% of the variation in firm value can be explained by the combined influence of dividend policy, profitability, and liquidity, while the remaining 15.15% is attributed to other factors outside the scope of this study.
Analysis Of The Customer Decision Journey For Local Fashion SMES In Optimizing Marketing Funnel Strategies Through Digital Platforms
This study aims to analyze the customer decision journey (CDJ) and the implementation of the marketing funnel strategy in the context of digital marketing for local fashion SMEs in Indonesia. The rapid advancement of digital technology has provided significant opportunities for SMEs to utilize various digital platforms, such as social media and e-commerce, to enhance their competitiveness and reach consumers more effectively. However, many SMEs still struggle to optimize the use of these digital platforms. Therefore, this research examines how a good understanding of the CDJ and the proper implementation of the marketing funnel strategy can influence sales conversion and customer loyalty. This study uses a quantitative approach with a descriptive research design, involving 100 respondents, consisting of local fashion SME owners and consumers who interact with them through digital platforms. The results show that a good understanding of the CDJ and the appropriate implementation of the marketing funnel significantly improve sales conversion. The findings also indicate that the consumer journey is now non-linear and influenced by various digital touchpoints, requiring a more flexible marketing strategy. Additionally, digital technologies such as recommendation systems and marketing automation tools can enhance the effectiveness of consumer interaction at each stage of the funnel. This study provides insights for SMEs to optimize their digital marketing strategies in the face of an increasingly competitive market and contributes to the literature on digital marketing for SMEs.
The Impact Of Profitability And Solvency On Firm Value Coal Mining Subsector Businesses Listed On The Stock Exchange Of Indonesia 2020–2024
Coal mining firms listed on the Indonesia Stock Exchange (IDX) are the subject of this study between 2020 and 2024. These Businesses have a very important part in the national economy but simultaneously face difficulties like price volatility, shifts in global demand, and renewable energy transition policies. The study is motivated by previous various research results regarding impact of solvency and profitability on company value, necessitating further empirical examination. This study's objective is to evaluate the impact of profitability and solvency on company value. A quantitative causal-associative approach was employed using panel data from eight businesses that consistently release yearly reports throughout the study period, generating 40 observations. Analysis of multiple linear regression was performed on the data using SPSS version 30. The findings reveal that profitability, represented by Return on Assets (ROA), has a negative yet insignificant impact on firm value as measured by Price to Book Value (PBV). Conversely, solvency, proxied by Debt to Equity Ratio (DER), demonstrates a beneficial and noteworthy impact on the company's value. Collectively, profitability and solvency explain 20.3% of firm value variation. These results underscore the importance of maintaining a balanced capital structure to enhance investor confidence and corporate valuation. Academically, this research enriches financial management literature within the energy sector, while practically offering insights for managers and investors in financial decision-making.
Analysis Of The Marketing Mix On Consumer Purchasing Decisions At PO Primadona Makassar
This study aims to empirically analyze and test the influence of the elements of the Service Marketing Mix (7Ps), which include Product, Price, Place, Promotion, People, Process, and Physical Evidence, on Consumer Purchasing Decisions at the Primadona bus company (PO Primadona) in Makassar. Operating in the transportation services sector, PO Primadona requires an effective marketing strategy to maintain loyalty and attract consumers amidst tight industry competition. This research employs a quantitative approach with a causal explanatory design. Data will be collected through questionnaire surveys from respondents (sample size adjusted, e.g., 200) who are PO Primadona consumers at the Terminal Regional Daya Makassar, utilizing a purposive sampling technique. Data analysis will be performed using Structural Equation Modeling (SEM) to test partial (-test) and simultaneous (-test) hypotheses. The hypothetical results indicate that simultaneously, the Service Marketing Mix (7Ps) has a significant and positive influence on Purchasing Decisions. Partially, the variables Product Quality (Service) (e.g., fleet comfort) and People (staff service quality) are found to be the most dominant elements in influencing consumer decisions to choose PO Primadona, while the Price element shows the weakest influence. This study concludes that for PO Primadona Makassar, Purchasing Decisions are heavily determined by the intangible aspects of service and human resource interaction. services. The results of this study indicate that the marketing mix has a significant effect on ticket purchasing decisions by consumers which is measured from the results of the recapitulation of the questionnaire results.
The Impact Of Liquidity And Profitability On Stock Prices In The Gas And Oil Sector 2020–2024
The oil and gas sector is a strategic sector that plays an important role in supporting the Indonesian economy, but during the 2020–2024 period, this sector experienced stock price fluctuations that were not in line with the company's financial performance. This problem prompted this study, which aims to analyze the effect of liquidity and profitability on stock prices in oil and gas sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. This study uses a quantitative approach with multiple linear regression methods and secondary data in the form of annual financial reports from 12 oil and gas sub-sector companies obtained through the official IDX website using a purposive sampling technique. The results of the study indicate that the liquidity variable as measured by the Current Ratio (CR) and profitability as measured by the Net Profit Margin (NPM) do not have a significant effect either partially or simultaneously on stock prices. The coefficient of determination (R²) value of 1.8% indicates that stock price variations are more influenced by external factors such as fluctuations in world oil prices, macroeconomic conditions, and energy market sentiment. This study concludes that internal financial ratios have not become the main determinant in stock price movements in the oil and gas sector, so investors need to consider global external factors in making investment decisions.
The Effect Of Workload On Work Productivity With Work Motivation As An Intervening Variable On Employees Of PT. Pelayaran Nasional Indonesia (Persero) Makassar Branch
This study aims to analyze the effect of workload on work productivity, with work motivation as an intervening variable, at PT. Pelayaran Nasional Indonesia (Persero), Makassar Branch. The primary focus of this study is to identify the direct and indirect influences and the most significant factors in increasing work productivity, and how the relationships between these variables influence the maintenance of work productivity. This study used a quantitative approach with a survey method. Data were collected through questionnaires distributed to 34 respondents, employees of PT. Pelayaran Nasional Indonesia (Persero), Makassar Branch. The analytical technique used was path analysis to test the indirect effect of an independent variable on the dependent variable through an intervening variable (the effect of workload on work productivity, with work motivation as the intervening variable). The results indicate that workload has a negative and significant effect on work productivity, workload has no negative and significant effect on work motivation, work motivation has a positive and significant effect on work productivity, and workload has no negative and significant effect on work productivity, with motivation as the intervening variable, among PT. Indonesian National Shipping (Persero) Makassar Branch.
Innovation In Strategic Management For Sustainable Business Transformation
In an increasingly dynamic and uncertain business environment, innovation has emerged as a central driver of strategic effectiveness and long-term sustainability. This study examines how innovation can be systematically integrated into strategic management to support sustainable business transformation. Adopting a conceptual and theoretical research design, the paper synthesizes contemporary literature on innovation, strategic management, and sustainability to develop an integrative framework of Innovative Strategic Management (ISM). The analysis draws upon Dynamic Capabilities Theory, the Resource-Based View, and Sustainability-Oriented Strategic Management to identify three core dimensions of ISM: proactive environmental scanning, innovation-driven value creation, and sustainability-oriented decision-making. The findings suggest that embedding innovation within strategic management processes enhances organizational adaptability, strengthens stakeholder trust, and enables firms to achieve sustainable competitive advantage. This study contributes to the strategic management literature by positioning innovation and sustainability as interdependent strategic capabilities and provides a conceptual foundation for future empirical research on sustainable business transformation.
The Effect Of Liquidity On Tax Avoidance With Capital Structure As An Intervening Variable In Islamic Commercial Banks In Indonesia In 2019-2023
This study aims to determine the effect of liquidity on tax avoidance through capital structure as an intervening variable with the object of research being banking companies listed on the Indonesia Stock Exchange (IDX) gallery. The independent variable studied is liquidity by the Loan to Deposit Ratio (LDR). The independent variable studied is Tax Avoidance represented by the Effective Tax Rate (ETR), and the intervening variable studied is Capital Structure represented by the Debt Equity Ratio (DER). The population studied is all banking companies listed on the Indonesia Stock Exchange (IDX) gallery for the period 2019-2023. The type of research used is a quantitative method. The sampling technique uses a purposive sampling technique and takes 10 banking companies that meet the requirements for research. This study uses PLS (Partial Least Square) using the SmartPLS application version 4.0. The research results obtained show that 1) Liquidity has a significant effect on tax avoidance, 2) Liquidity has a significant effect on capital structure, 3) capital structure has a positive effect on tax avoidance, 4) liquidity is able to significantly influence tax avoidance through capital structure.
Cultural Values, Norms And Lifestyle In Shaping Consumer Loyalty: The Moderating Role Of Digital Engagement
This study examines the influence of cultural values, social norms, and lifestyle on consumer loyalty toward Roti Maros, a prominent local brand in South Sulawesi, Indonesia, while assessing the moderating role of digital engagement. The research is motivated by the increasing integration of cultural identity and digital behavior in shaping consumer-brand relationships, particularly in local product contexts that face the challenge of maintaining authenticity amid digital transformation. Employing a quantitative approach with a structured survey method, data were collected from 191 respondents who are repeat consumers of Roti Maros. The data were analyzed using Structural Equation Modeling (SEM) with WarpPLS to test direct and moderating relationships among latent constructs. However, digital engagement does not significantly moderate the relationship between cultural values and loyalty, and even shows an adverse moderating effect between norms, lifestyle, and loyalty. These findings suggest that while digital platforms enhance brand interaction, excessive digital reliance may weaken the cultural and social bonds that traditionally foster loyalty. The study contributes to understanding consumer behavior by integrating cultural and digital perspectives, offering managerial insights for developing culturally grounded yet digitally balanced marketing strategies.
The Effect Of Profitability Ratios On Firm Value
This study aims to analyze the influence of Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM) on firm value among technology companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The research employs a quantitative approach using panel data regression analysis. The sample consists of nine technology companies selected through purposive sampling based on specific criteria. The results indicate that, individually, ROA, ROE, and NPM have no significant effect on firm value. Simultaneously, the three profitability variables also fail to exert a statistically significant combined influence on firm value. This suggests that profitability levels have not yet served as a positive signal to investors in assessing the value of technology firms in the capital market. Consequently, the findings contradict Signalling Theory, which posits that a company’s profitability provides investors with meaningful signals about its performance and future prospects. Instead, the results imply that during the research period, the value of technology firms in Indonesia was driven more by factors beyond profitability such as product innovation, adaptability to technological change, and the dynamic nature of the digital market..
Locally Based Green Economy: The Role Of Msmes And Community Entrepreneurship In Driving Growth Sustainable Economy In Makassar City
The green economy has become a strategic framework for achieving sustainable development, particularly in developing countries where micro, small, and medium enterprises (MSMEs) play a dominant role in job creation and innovation. This study aims to analyze the role of MSMEs and community-based entrepreneurship in driving sustainable economic growth in the context of Makassar City, Indonesia. The main issue addressed in this study is how local entrepreneurial practices and community initiatives contribute to the realization of a localized green economy model. This study uses a qualitative descriptive approach with data collection through semi-structured interviews with selected MSME owners, community leaders, and local government representatives. The primary data was supplemented with secondary data in the form of policy documents and regional development reports. The analysis was conducted using thematic coding to identify recurring patterns related to environmental awareness, resource efficiency, and socioeconomic empowerme The study's findings indicate that local MSMEs have begun integrating environmentally friendly practices such as waste reduction, product recycling, and energy efficiency, despite limited institutional support and financial incentives. Furthermore, community entrepreneurship fosters social innovation by linking environmental conservation efforts with improvements in community well-being. This study concludes that the transition to a green economy in Makassar City is driven not only by government policies but also by the collective awareness and adaptive capacity of local actors. Therefore, strengthening collaboration between MSMEs, local governments, and community networks is key to accelerating inclusive and sustainable green economic growth in urban areas in Indonesia. These findings contribute to the global discourse on bottom-up strategies for achieving the Sustainable Development Goals (SDGs) through locally-based green innovation.
Green Bonds And Systemic Risk: Empirical Evidence From Global Markets With A Focus On Emerging Economies
This study investigates whether the issuance of green bonds contributes to financial stability by mitigating systemic risk in global markets, with a particular focus on emerging economies. We employ an unbalanced quarterly panel of 30 countries from 2014Q1 to 2023Q4 (1,052 observations) and estimate two-way fixed effects models with Driscoll-Kraay standard errors. Systemic risk is measured using ΔCoVaR, constructed from daily equity returns aggregated to the quarterly level. The results indicate that higher green bond issuance, as measured by log (1 + GB/GDP), is significantly associated with lower systemic risk (β = −0.032, p < 0.01). Market volatility exacerbates systemic fragility (β = 0.047, p < 0.01), while more liquid market conditions reduce it (β = −0.018, p < 0.05). The stabilizing effect of green bonds is stronger in countries with higher institutional quality, underscoring the moderating role of governance. Overall, the preferred specifications achieve a within-R² of approximately 0.42, indicating moderate but consistent explanatory power. These findings suggest that sustainable finance instruments can enhance market resilience. Policy implications include integrating green bonds into macroprudential frameworks, improving secondary market liquidity, and harmonizing green finance taxonomies to strengthen both credibility and stability
The Role Of Strategic Management In Optimizing Governance And Business Development Of Village-Owned Enterprises In The Digital Era
Village-owned enterprises hold a strategic role in driving economic empowerment and improving the welfare of rural communities. In the digital era, Village-Owned Enterprises face new challenges and opportunities influencing their management and business development. Effective strategic management is a crucial element in optimizing governance and accelerating business growth. This article aims to explore the role of strategic management in overcoming various challenges and harnessing the potential of digitalization to enhance the performance of Village-Owned Enterprises. The study employs a qualitative approach, focusing on several Village-Owned Enterprises in Indonesia that have implemented digital technologies in their management and business development processes. The findings reveal that adopting management information systems (MIS) and using digital platforms, such as e-commerce and social media, have significantly improved operational efficiency and governance transparency and expanded Village-Owned Enterprises's market reach to national and international levels. The study also identifies significant challenges faced by Village-Owned Enterprises, including limited human resources with digital skills, uneven telecommunications infrastructure, and insufficient funding for technology investment. Without adequate support, many Village-Owned Enterprises struggle to adopt technology effectively. Additionally, low digital literacy among managers and rural community members impedes the successful implementation of digital strategies. Based on these findings, the study emphasizes the importance of cross-sector collaboration involving the government, private sector, and local communities to accelerate digital transformation in rural areas. This includes enhancing internet infrastructure, providing digital skills training, and facilitating access to financing for technology investments.
Innovations In Strategic Management For Sustainable Business Transformation
The dynamics of the global market and increasingly complex environmental pressures make innovation in strategic management a key driver in promoting sustainable business transformation. The role of strategic innovation serves as an adaptive approach capable of integrating economic, social, and environmental aspects into business strategy planning and implementation. By reviewing various literature and recent case studies, this study demonstrates that organizations that adopt innovation in strategic management-such as the use of digital technology, circular business models, and stakeholder-driven approaches-are better able to create long-term value and enhance competitiveness. Furthermore, sustainable transformation requires visionary leadership, an agile organizational culture, and performance measurement systems aligned with sustainability goals. The results of this study are expected to provide both conceptual and practical contributions for companies seeking not only to survive, but also developing in the transition era towards a green and inclusive economy. This study concludes that strategic innovation plays a pivotal role in driving sustainable business transformation within the complex global market.
The Influence Of Leadership Style On Employee Performance At PT. Suracojaya Abadimotor, Daya Bumi Tamalanrea Permai (BTP) Branch, Makassar City
This study aims to analyze the influence of leadership style on employee performance at PT. Suracojaya Abadimotor, Daya Bumi Tamalanrea Permai (BTP) Branch, Makassar City. The problem of this study began with the fluctuation of employee performance, which indicated less than optimal implementation of leadership style in the company environment. The method of research employed is a quantitative approach, utilizing a descriptive type of research. The population in this study amounted to 30 employees, and all of them were sampled through a saturated sampling technique. Data were collected through questionnaires, observations, and interviews, and analyzed using simple linear regression with the help of partial tests (t-tests). The findings indicated that the leadership style positively and significantly influenced employee performance, with a significance value of 0.001 (less than 0.05). The coefficient of determination (R²) value of 0.330 indicates that leadership style contributed 33% to improving employee performance, while the remaining 67% was influenced by other factors outside this study. These findings indicate that the leader's ability to communicate, provide direction, and build harmonious working relationships is are dominant factor that can enhance employee productivity. Thus, the better the implementation of the leadership style, the better the employee performance.
Capital Structure And Firm Value: The Mediating Role Of Profitability
The property and real estate sector is one of the important sectors that contribute to the Indonesian economy, but in the 2021–2024 period, this sector experienced a decline in company value as reflected in market performance. This problem prompted this study, which aims to analyze the effect of capital structure on company value and examine the role of profitability as a mediating variable in property and real estate sector companies listed on the Indonesia Stock Exchange for the 2020–2024 period. This study uses a quantitative approach with the Partial Least Square-Structural Equation Modeling (PLS-SEM) method and the sample was determined through a purposive sampling technique on companies that meet the research criteria. The results of the study indicate that capital structure has a significant negative effect on company value and profitability, while profitability has a significant positive effect on company value and is proven to mediate the effect of capital structure on company value; this finding supports the Trade-off Theory regarding the importance of balance in the use of debt, but also shows limitations in the application of Signaling Theory in the property sector. This study concludes that excessive use of debt can reduce profitability and company value, so companies need to establish an optimal capital structure to maintain financial performance and increase investor confidence.
Pro-Kantin: Digital Entrepreneurship Innovation Through A Pre-Order System For The Campus Canteen Ecosystem
Long queues at campus canteens often reduce the efficiency of students’ and lecturers’ daily activities, leading to wasted time and decreased productivity. This condition reflects a broader research problem, namely, the lack of innovative solutions to support efficient and modernized campus ecosystems. The main purpose of this study is to design and analyze PRO-KANTIN (Pre-Order Orchestrated Canteen) as a form of digital entrepreneurial innovation that addresses the inefficiency of conventional canteen services. To achieve this objective, the study employed a descriptive qualitative methodology through a case study approach within a higher education environment. Data were collected through observation of student and lecturer behavior at campus canteens, interviews with canteen managers, and analysis of entrepreneurial business models related to digital platforms. The results indicate that the implementation of PRO-KANTIN significantly improves service efficiency by reducing waiting times and ensuring food availability, while also providing greater convenience for consumers. From the providers’ perspective, the pre-order system enables better production planning, accurate stock management, and reduced food waste. Furthermore, the findings highlight that PRO-KANTIN fosters entrepreneurial innovation by integrating digital technology with traditional service models, thereby creating new value for all stakeholders in the campus ecosystem. In conclusion, this research demonstrates that PRO-KANTIN is not merely a technical solution but also a strategic model that supports digital transformation, enhances entrepreneurial capacity, and strengthens the sustainability of campus-based entrepreneurial ecosystems. The implications suggest potential scalability to other institutions and communities, positioning PRO-KANTIN as a replicable model for digital entrepreneurship in higher education.
Human Resource Factors And Craftsman Productivity In The Creative Industry Of Rumah Atap Konjo
: The local culture-based craft industry is an important part of the creative economy, playing a role in improving community welfare while preserving cultural heritage. However, this industry still faces a major challenge in the form of low artisan productivity. This study aims to analyze the influence of human resource factors, including skills, knowledge, training, work motivation, and working conditions, on the productivity of artisans at the Rumah Atap Konjo in Bulukumba Regency. The study used a quantitative approach with a survey method of 70 artisans, with data analysis using multiple linear regression. The results showed that simultaneously all human resource factors significantly influenced artisan productivity. However, partially, only knowledge and working conditions were proven to have a positive and significant effect on productivity, while skills, training, and work motivation did not show a significant effect. These findings indicate that in the local culture-based craft industry, productivity increases are more determined by cognitive aspects and work environment support than by individual factors that are homogeneous and inherited from generation to generation. This study provides an empirical contribution to the development of human resource studies in the culture-based creative industry and serves as a basis for the formulation of more contextual and sustainable artisan management policies and strategies.
Marketing Strategy In An Effort To Increase The Number Of Customers In Baitul Tamwil Hidayatullah Makassar
The main problem in this study is how the marketing steps of Baitul Tamwil Hidayatullah Makassar in Increasing the Number of Customers and what are the supporting or inhibiting factors that may occur in Baitul Tamwil Hidayatullah Makassar in the implementation of marketing strategies. This type of research uses a qualitative descriptive research method with a field research approach. The type of data used is primary data obtained from the results of interviews with five informants, from managers, admins and customers of Baitul Tamwil Hidayatullah, secondary data that is analyzed through data collection, data reduction, presentation and conclusion drawn. The results of this study show that the marketing of Baitul Tamwil Hidayatullah Makassar in increasing the number of customers is only from friend to friend. The supporting factors of Baitul Tamwil Hidayatullah Makassar in increasing the number of customers are the teamwork and involvement and enthusiasm of other customers in marketing Baitul Tamwil Hidayatullah products. Regarding the inhibiting factors, namely services, financial literacy, and lack of Human Resources (HR). The implication in this study is that Baitul Tamwil Hidayatullah Makassar needs to improve its strategy through the distribution of brochures, socialization from school to school, increasing branches in the regions, and providing products that are most needed by the community. Meanwhile, the suggestion for Baitul Tamwil Hidayatullah Makassar is that it is expected to increase the evaluation of the implementation of continuous promotion and socialization activities, improve service quality, create jobs so that there is no shortage of manpower, utilize social media such as Instagram, TikTok, and so on so that the outside public understands about sharia financing and what products BTH has.
Digital Market Transactions And Shariah Compliance: A Case Study Of Cash On Delivery (COD) Practices On Shopee In Indonesia
This study examines the implementation of Cash-on-Delivery (COD) transactions through the Shopee e-commerce platform in Gowa Regency, Indonesia, from the perspective of Islamic economics and Shariah compliance. The primary motivation of this research is to address the growing tension between technological innovation in digital marketplaces and adherence to Islamic ethical and legal principles. Specifically, the study explores how COD practices are understood and enacted by buyers, sellers, and couriers, and whether these practices align with the requirements of valid contracts (ʿaqd) under fiqh muamalah. Employing a qualitative phenomenological design, data were collected through in-depth interviews, field observations, and document analysis from fifteen participants directly involved in Shopee’s COD system. Thematic analysis was conducted to identify behavioral patterns, perceptions of trust, and instances of contractual ambiguity. The results reveal that while COD is widely preferred by consumers for its perceived safety and convenience, many misunderstand its binding nature, often resulting in unilateral cancellations and financial losses for sellers and couriers. These findings highlight inconsistencies between users’ transactional behavior and Shariah principles of transparency (amanah), risk-sharing, and justice (ʿadl). The study concludes that COD can remain permissible within Islamic jurisprudence if key contractual conditions - clear pricing, mutual consent, and khiyar (right of option) are explicitly upheld during the delivery encounter. It recommends targeted digital literacy initiatives, regulatory oversight, and platform policy reforms to harmonize practical efficiency with ethical accountability. By bridging empirical consumer behavior with Islamic economic jurisprudence, this research contributes to the broader discourse on ethical governance and faith-based digital economy development.
The Effect Of Working Capital Turnover And Debt Policy On The Value Of Technology Companies Listed On The Indonesia Stock Exchange (IDX) In 2020-2024
The technology sector is a key driver of digital economic growth in Indonesia. However, during the 2020–2024 period, several companies in this sector experienced stock price volatility, indicating pressure on company value. This issue prompted this study, which aims to analyze the effect of working capital turnover and debt policy on company value in technology sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This study used a quantitative approach with a panel data regression method, and the sample was determined through purposive sampling technique, involving 10 companies that met the criteria for data availability over five years of observation. The results showed that working capital turnover had a negative but insignificant effect on company value, while debt policy had a negative but significant effect on company value. This finding supports the Trade-off Theory, which emphasizes the existence of an optimal point for debt use, but is inconsistent with Agency Theory's expectations regarding efficient working capital management as a means of increasing value. This study concludes that increasing the proportion of debt has the potential to reduce company value due to increased financial risk, while efficient working capital turnover has not been able to provide a significant impact. Therefore, companies need to consider balancing their funding structure and improving the quality of current asset management to strengthen market perception and increase company value sustainably.
Resilient And Sustainable HR Systems: The Work-From-Anywhere (WFA)–Organizational Citizenship Behavior (OCB) Nexus In Indonesia’s Public Sector
The adoption of Work-From-Anywhere (WFA) arrangements in Indonesia’s public sector has generated important questions regarding their implications for Organizational Citizenship Behavior (OCB), which remains essential for public service effectiveness. This qualitative single-case study examines the relationship between WFA and OCB within a provincial development planning agency in South Sulawesi. Using the Framework Method, data were triangulated from role-segmented semi-structured interviews, non-participant observations of hybrid and online coordination meetings, and analysis of internal organizational documents. The findings indicate that WFA does not inherently diminish OCB. Instead, citizenship behaviors—particularly helping, courtesy, and conscientiousness—were sustained and, in some organizational units, strengthened when supported by three interrelated enablers: transparent visibility mechanisms, structured communication cadence, and fair allocation of WFA eligibility. Increased autonomy under WFA was frequently associated with enhanced self-discipline and discretionary effort, while trust-based leadership and perceptions of procedural justice reinforced employees’ willingness to contribute beyond formal role requirements. Conversely, unclear eligibility criteria, weak coordination routines, excessive administrative procedures, and uneven digital infrastructure were associated with reduced OCB signals and coordination challenges. The study concludes that the impact of WFA on OCB in the public sector is contingent upon organizational design and leadership practices rather than the flexibility policy itself. These findings offer practical guidance for human resource policy design in public administration and contribute to broader discussions on resilient and sustainable public-sector workforce systems.
Comparison Of Consumer Preferences And Satisfaction Factors In Offline And Online Shopping At Missyshop Official
This research aims to identify comparisons of consumer preferences between offline and online shopping at Missyshop Official and the factors that influence consumer satisfaction in both methods. Data collection was done through a questionnaire survey distributed to 90 Missyshop Official consumers in Makassar, Indonesia. The data obtained was analyzed using qualitative analysis. The research results show that consumer preference for offline shopping (69%) is higher than online shopping (31%). The factors that influence consumer satisfaction in offline and online shopping are product, price, and service. The level of consumer satisfaction when shopping offline (average score 3.40) and online (average score 3.08) is equally high. The most important factor in consumer satisfaction when shopping offline is service, followed by product, and then price. Meanwhile, when shopping online, product dimensions are the most important factor, followed by price and service.
Does Size Still Matter? Reassessing The Roles Of Firm Scale, Leverage And ESG In Driving Corporate Performance
This study investigates the moderating effects of leverage and firm size on the relationship between Environmental, Social, and Governance (ESG) performance and corporate financial performance. This study uses a quantitative approach with a causal design. Secondary data were obtained from Bloomberg Database during the 2016–2023 period. The research sample consisted of 47 non financial companies listed in Indonesia Stock Exchange or 376 company-year observations selected using a purposive sampling method. Financial performance variables were measured by return on equity (ROE), leverage by the debt-to-equity ratio (DER), company size by the natural logarithm of total assets, and ESG by the total ESG Disclosure score. Data analysis was performed using moderated regression analysis assisted (MRA) by SPSS software. The results show that ESG has a significant negative effect on ROE, indicating that implementing sustainability practices still has the potential to incur costs that depress short-term profitability. Conversely, DER has a significant positive effect on ROE, indicating that proportional use of debt can increase returns on equity. Moderation tests indicate that only DER moderates the relationship between ESG and ROE, while company size has no significant effect, either as a direct predictor or moderator. These findings emphasize that sustainability and funding structure must be viewed strategically and in balance. ESG commitments coupled with an efficient capital structure can create more optimal financial performance amidst the transition to a sustainable economy.
Marketing Strategy And Creative Product Innovation On Coffee Business Marketing Performance
This study aims to describe the role of marketing strategies and creative product innovation in improving marketing performance in coffee businesses. The approach used was qualitative with descriptive methods. Data were collected through in-depth interviews, observation, and documentation with coffee business owners and managers in Parepare City. Data analysis was carried out through the stages of data reduction, data presentation, and conclusion drawing. The results show that marketing strategies implemented by coffee business actors include the use of social media, improving service quality, and strengthening local brands as the main attraction for consumers. Meanwhile, creative product innovation is realized through the development of flavor variants, attractive packaging designs, and product presentations that emphasize cultural values ​​and regional characteristics. These two aspects support each other in improving marketing performance, as seen from the increase in the number of customers, consumer loyalty, and the positive image of coffee businesses in the local market. This study confirms that successful marketing performance depends not only on promotional strategies, but also on the ability of business actors to innovate creatively according to market needs and tastes. Thus, the integration of marketing strategies and creative product innovation is key to the sustainability and competitiveness of coffee businesses in the modern era.
Fraud Detection: Work Pressure With Personality Auditor?
The purpose of this study is to analyze and test empirical evidence regarding the influence of job pressure, auditor competence, and risk culture on fraud detection, as well as to test the role of auditor personality as a moderation variable that can weaken, strengthen, or reverse the direction of influence between independent variables and dependent variables. The phenomenon of the research problems studied includes external pressure on auditors, limited auditor competence, where there are still few BPK auditors who have forensic audit certification in dealing with more complex fraud (especially in the field of IT and forensic audit), and organizational culture that does not always support fraud detection efforts. This study aims to explore how these factors affect the auditor's ability to detect fraud, as well as how the auditor's personality can play an important role in improving or decreasing the effectiveness of such detection. This study uses a descriptive and causal approach with primary data. This study makes a new contribution by adding auditor personality variables using five personality types that refer to the Big Five Theory. The population studied was auditor at BPK RI Riau Islands Representative, and data collection was carried out through the distribution of questionnaires via Google Form. Hypothesis testing is carried out using the Smart PLS application. The results showed that work pressure did not have a significant effect on fraud detection. However, auditor competence, auditor personality, and risk culture have a significant influence on fraud detection. In addition, this study found that auditor personality plays a moderation variable that affects the relationship between job pressure and fraud detection. Research shows the importance of synergy between various parties in detecting and handling fraud. Therefore, the government can encourage closer collaboration between auditors and investigators to strengthen efforts to eradicate corruption, both through policies that support cooperation between institutions and provide space for further coordination between supervisory and law enforcement agencies.
Learning To Lead From The Urban Grassroots: Self-Transformation And Sustainable Leadership In The Urban Village Office
This study aims to analyze the influence of self-transformation on sustainable leadership among government officials working in urban village offices, focusing on how individual learning and self-development contribute to creating adaptive, collaborative, and sustainability-oriented leadership styles. The research stems from the challenges faced by local government officials in responding to increasingly complex public service demands amid dynamic social and bureaucratic changes. A quantitative approach was employed, utilizing a survey method, with questionnaires distributed to 150 employees across various urban villages in Jember Regency. The research instruments were developed based on self-transformation indicators, including self-awareness, continuous learning, adaptability, and intrinsic motivation, as well as sustainable leadership indicators encompassing collaboration, ethical responsibility, organizational learning, and social sustainability orientation. Data were analyzed using simple linear regression to test the direct relationship between the two variables. The results indicate that self-transformation has a positive and significant effect on sustainable leadership among urban village officials. This means that the higher an individual’s level of self-awareness and ability to develop themselves, the stronger their tendency to implement sustainability-oriented leadership practices. The study concludes that strengthening self-transformation through training, work reflection, and collaborative learning can serve as a key strategy in building sustainable public leadership at the local level. These findings are expected to provide a foundation for local governments in designing capacity development programs aligned with the principles of sustainable governance.
Stock Investment Decision On Generation Z In Makassar City: The Role Of Fear Of Missing Out, Loss Aversion And Financial Literacy
Stock investments have shown an increasing trend in recent years, primarily driven by Generation Z, who grow up in the digital era with easy access to investment information through social media. This study aims to examine the influence of fear of missing out and loss aversion on stock investment decisions, as well as the moderating role of financial literacy among Generation Z in Makassar City. The research employs a quantitative associative approach, involving 150 respondents selected through purposive sampling. Data were analyzed using Structural Equation Modeling (SEM) with the SmartPLS 3.0 software. The results of the study show that FOMO and loss aversion have a positive and significant influence on stock investment decisions. But the role of FOMO and loss aversion on stock investment decision cannot be moderated by financial literacy. This finding highlights that psychological biases such as FOMO and loss aversion greatly influence Generation Z's stock investment decisions regardless of their financial literacy levels, emphasizing the importance of enhancing financial education by considering psychological factors.
The Role Of Organizational Culture, Employee Engagement And Work Environment In Employee Performance
Employee performance constitutes a critical determinant of organizational success, particularly within the public service sector. This study examines the influence of organizational culture, employee engagement, and work environment on employee performance at Perumdam Waemami, East Luwu Regency, Indonesia. The research adopts a quantitative methodological approach. A sample of 62 employees was determined using the Slovin formula, selected through incidental sampling technique. Data collection was conducted through three methods: structured interviews, direct observation, and questionnaire surveys. The data were analyzed employing descriptive analysis and Structural Equation Modeling using Partial Least Squares (SEM-PLS). The findings reveal that organizational culture exerts no significant influence on employee performance, while employee engagement and work environment demonstrate significant positive effects on employee performance. These results indicate that while organizational culture showed limited impact, high levels of employee engagement and a supportive work environment play pivotal roles in enhancing employee performance at Perumdam Waemami, East Luwu Regency.
Analysis Of Capital Market Reaction Before And After The 17 + 8 Demands Demonstration Of September 1, 2025 (An Event Study On Bank Central Asia)
The Indonesian capital market is highly sensitive to socio-political events that generate uncertainty and influence investor behavior. This study examines the capital market reaction to the 17 + 8 Demands Demonstration held on September 1, 2025, using Bank Central Asia (BCA) as the object of analysis. Employing an event study methodology, this research analyzes differences in Average Abnormal Return (AAR), Cumulative Abnormal Return (CAR), and trading activity before and after the event. The market model is used to estimate expected returns, with an event window of (-10, +10) trading days surrounding the demonstration date. Statistical analyses, including normality tests and t-tests, are applied to assess the significance of market reactions. The findings reveal a shift in investor sentiment, where AAR and CAR change from positive values before the event to negative values afterward, indicating increased uncertainty following the demonstration. Although these changes are not statistically significant, the observed return and trading volume patterns suggest short-term market adjustments to publicly available information. Overall, the results support the semi-strong form of the Efficient Market Hypothesis, indicating that the Indonesian capital market responds rapidly to socio-political events while exhibiting temporary inefficiencies and volatility. These findings provide important implications for investors and regulators in managing risks associated with political uncertainty.
Digital Marketing Strategy Based On E-Service, Brand Image And Reviews For Gofood MSMEs
This study aims to determine the effect of E-Service Quality, Brand Image, and Online Customer Reviews on Online Purchasing Decisions at Almaz Fried Chicken on the GoFood platform. The sampling method used in this study is a non-probability sampling approach with the Accidental Sampling technique, which is a sampling technique based on chance, where anyone who accidentally meets the researcher can be used as a respondent if deemed suitable as a data source. The number of respondents in this study was 96 people who were consumers who had made online purchases at Almaz Fried Chicken through the GoFood application. The data obtained were analyzed using the SPSS 25 application with multiple linear regression analysis methods. The partial results of the study indicate that E-Service Quality has a positive and significant effect on Online Purchasing Decisions, which means that the better the quality of electronic services provided, the higher the consumer's decision to make a purchase. Furthermore, Brand Image also has a positive and significant effect on Online Purchasing Decisions, which shows that a strong and positive brand image can increase consumer trust and purchasing interest. In addition, Online Customer Reviews have a positive and significant effect on Online Purchasing Decisions, which means that the more positive reviews given by customers, the greater the tendency of other consumers to make a purchase. Simultaneously, the three variables e-service quality, brand image, and online customer reviews have a positive and significant influence on online purchasing decisions for Almaz Fried Chicken on GoFood. These results indicate that good digital service quality, a strong brand image, and positive customer reviews are a crucial combination in improving consumer purchasing decisions in the digital era.