Proceeding of International Conference on Finance, Economics, Management, Accounting, and Informatics (ICoFEMATICS)

CSR, Governance, and Green Innovation: Drivers of Energy Firm Value Through Profitability

Merry Anna Napitupulu — 2025-08-05

This investigation explores the relationship between Corporate Social Responsibility (CSR), Good Corporate Governance (GCG), and Green Innovation on firm value among energy companies traded on the Indonesia Stock Exchange during 2020-2023, with profitability functioning as an intermediary variable. The research framework incorporates CSR disclosure indices, GCG composite ratings, and Green Innovation assessed through environmental technology research and development expenditure intensity. Tobin's Q ratio serves as the proxy for firm value, while Return on Assets (ROA) represents the profitability mediator. Purposive sampling methodology was applied for sample selection, with analytical procedures conducted using WarpPLS version 7.0. Findings reveal that CSR and Green Innovation substantially boost firm value, while GCG demonstrates no statistically significant influence. Additionally, profitability effectively mediates the connections between these strategic factors and firm value.

Factors Influencing the Independent Auditor’s Reliance on Internal Audit Quality in Listed Companies in Vietnam

Khieu Huu Binh — 2025-08-05

This article examines factors influencing independent auditors’ reliance on internal audit (IA) quality in Vietnamese listed companies, addressing the research question: What factors affect external auditors’ trust in IA work? Using a mixed-methods approach, the study combines interviews with senior auditors and surveys from 102 independent auditors to analyze determinants such as IA independence, experience, professional qualifications, department size, cooperation, audit timing, and IA report quality. Empirical findings reveal that independence and report quality significantly enhance external auditors’ trust, while department size and experience also play supporting roles. The discussion highlights that stronger IA functions improve audit efficiency and financial transparency. The study concludes that enhancing IA quality is crucial for corporate governance and investor confidence. This research contributes to the auditing literature in emerging markets and provides practical implications for regulators and firms aiming to strengthen internal controls.

Green Accounting and Intellectual Impact on MSMEs Sustainability in Medan

Irna Triannur Lubis — 2025-08-05

This study examines the influence of green accounting and green intellectual capital on MSME sustainability in Medan City. Environmental pressures and regulatory requirements necessitate sustainable business practices among small enterprises. A quantitative approach using survey methodology was employed with 120 MSMEs from trade, service, and manufacturing sectors. Data were collected through structured questionnaires and analyzed using Partial Least Square Structural Equation Modeling (PLS-SEM). Results demonstrate that green accounting significantly influences MSME sustainability (β = 0.332, p < 0.001), indicating that environmental-based financial recording enhances resource efficiency and regulatory compliance. Green intellectual capital shows stronger influence (β = 0.430, p < 0.001), highlighting the strategic role of environmental knowledge and innovation capabilities. The model explains 45.7% of sustainability variance. These findings suggest that integrating green accounting practices with environmental intellectual capital development can significantly enhance MSME competitiveness and sustainability performance.

SAP-Based ERP Implementation and Accounting Information Quality at PT Perkebunan Nusantara IV

Aprili Yanti Tarigan — 2025-08-05

This research investigates SAP-based Enterprise Resource Planning implementation effects on accounting information quality at PT Perkebunan Nusantara IV Regional II Medan. Employing quantitative methodology with 35 employee respondents from accounting and finance divisions, the study examines ERP deployment impacts through questionnaire-based primary data collection. Multiple linear regression analysis reveals significant positive relationships between SAP-ERP implementation and information quality (t-value: 3.519, significance: 0.001). The determination coefficient (R²=0.449) demonstrates that SAP-ERP explains 44.9% of accounting information quality variance, with remaining factors including user competence and internal controls. Findings confirm strategic technology adoption enhances financial reporting accuracy, timeliness, and relevance, supporting effective managerial decision-making processes in plantation enterprises.

System and Information Quality Effects on ERP-SAP User Satisfaction: Accounting Department Case Study

Tri Wita Adeline Br Ginting — 2025-08-05

This study investigates how system quality and information quality influence user satisfaction with ERP-SAP implementation within the Accounting and Finance Department at PTPN IV Regional II Medan. Employing quantitative methodology, the research surveyed 35 employees through structured questionnaires. Multiple linear regression analysis examined the relationships between variables. Results indicate that system quality exhibits positive yet statistically insignificant effects on user satisfaction, while information quality demonstrates significant positive influence. Collectively, both dimensions significantly affect user satisfaction levels. The model explains 38.4% of satisfaction variance, suggesting additional factors warrant investigation in future research within enterprise system contexts.

Independence, Internal Auditor Role, and Professionalism Effects on Internal Control System Effectiveness

Naomi Edrilyani Siregar — 2025-08-05

This research investigates how independence, the internal auditor role, and professionalism influence internal control system effectiveness at PT. Perkebunan Nusantara IV (Regional I) Medan. Employing multiple regression analysis via SPSS 26.0, data were collected from 39 respondents using the saturated sampling technique through 44-item questionnaires measured on Likert scales. Results reveal independence demonstrates negative insignificant effects, the internal auditor role shows positive insignificant effects, while professionalism exhibits positive significant effects on internal control system effectiveness. Collectively, all variables significantly impact internal control system effectiveness, explaining 43.7% of variance. These findings provide practical implications for strengthening internal audit functions within state-owned enterprises.

Tunneling Incentive, Tax Rate, Leverage, and Profitability Effects on Transfer Pricing in Pharmaceutical Companies

Wahyu Ningdia Saragih — 2025-08-05

This research examines how tunneling incentives, effective tax rates, leverage, and profitability influence transfer pricing decisions among pharmaceutical companies listed on the Indonesia Stock Exchange between 2019 and 2023. Employing purposive sampling methodology, three pharmaceutical companies were analyzed using multiple linear regression analysis. Findings reveal that tunneling incentives and leverage significantly affect transfer pricing practices, whereas effective tax rates and profitability demonstrate no significant impact. Collectively, all four variables exhibit significant influence on transfer pricing decisions. These results contribute to understanding tax avoidance mechanisms in Indonesia's pharmaceutical sector and provide insights for regulatory policy development.

Analysis of Financial Performance and Shareholder Value With Revenue Recognition Before and After The Implementation of PSAK 72 in Property and Real Estate Sector Companies Listed on The IDX From 2018-2021

Paskaria Theofany Br S. Milala — 2025-08-05

This type of research is a comparative method study with a quantitative descriptive approach that aims to determine whether there are differences in financial performance and shareholder value before and after the implementation of PSAK 72 in property and real estate sector companies listed on the IDX. PSAK 72 is the latest revenue recognition accounting standard adopted from IFRS 15. The research sample was taken from several criteria. Researchers used non-purposive sampling for sampling, which amounted to 17 companies. Statistical tools to test the hypothesis using the non-parametric Wilcoxon Rank Test and the parametric paired sample T-test. The results of this study are that there is a difference in the impact of the debt-to-asset ratio before and after the implementation of PSAK 72. Meanwhile, there is no difference in the impact of current ratio, net profit margin, and market book value before and after the implementation of PSAK 72 on property and real estate companies listed on the Indonesia Stock Exchange.

Human Resources, Participation, and Leadership Effects on Village Fund Accountability in Torgamba District

Tessa Anggraini Sirait — 2025-08-05

This study investigates how human resources, participation, and leadership influence village fund accountability in Torgamba District. Employing quantitative methodology, primary data were collected from 66 respondents across 14 villages through purposive sampling. Data analysis utilized descriptive statistics, validity and reliability tests, classical assumptions, multiple linear regression, and hypothesis testing via SPSS 25. Results demonstrate that human resource quality, community participation, and leadership behavior individually and collectively exert positive significant effects on village fund management accountability. The findings contribute to governance literature and offer practical implications for enhancing transparency and accountability in rural fund administration.

The Role of Human Resource Quality, Information Technology, and Internal Control Systems on Village Fund Management Accountability

Emisa Clara Br. Ginting — 2025-08-05

This research investigates how human resource quality, information technology utilization, and internal control systems influence village fund management accountability, with spiritual intelligence as a moderating variable in Tigabinanga District, Karo Regency. Employing a quantitative methodology, primary data were collected from 133 village officials through saturated sampling. Analysis utilized descriptive statistics, validity-reliability testing, multiple linear regression, classical assumptions, and hypothesis testing via SPSS 25. Findings reveal that all three independent variables significantly enhance accountability. Spiritual intelligence strengthens the human resource quality-accountability relationship but weakens the effects of information technology and internal control systems, though insignificantly. Results provide practical implications for improving village financial governance through capacity building, technological optimization, and enhanced control mechanisms integrated with ethical values.

Environmental Performance and Green Investment Effects on Plantation Firm Value

Sahala Purba — 2025-08-05

This research investigates environmental performance and green investment influences on firm value among plantation companies listed on the Indonesia Stock Exchange (2020–2023). Employing quantitative methodology with purposive sampling, 11 companies yielded 39 observations following outlier removal. Environmental performance was assessed through PROPER ratings, green investment via environmental cost ratios, and firm value using Tobin's Q. Multiple linear regression analysis via SPSS 26 revealed that environmental performance exhibits no significant effect on firm value, while green investment demonstrates negative significant impact. Simultaneously, both variables explain 17.3% of firm value variation. Findings suggest that short-term green investment costs may suppress immediate valuations despite potential long-term sustainability benefits, with environmental performance not yet fully recognized in market assessments.

Determinants of Village Fund Management Accountability: Information Technology as Moderating Variable

Talita Christin Sigiro — 2025-08-05

This research examines the influence of competence, internal control, and community participation on village fund management accountability, with information technology utilization as a moderating variable in Kabanjahe District, Karo Regency. Utilizing quantitative methodology, data from 64 village officials were analyzed through multiple linear regression and moderated regression analysis using SPSS 26. Results demonstrate that competence and internal control significantly and positively affect accountability, while community participation shows no significant effect. Moderated regression analysis reveals that information technology strengthens the competence-accountability relationship but weakens the influence of internal control and community participation on accountability. These findings emphasize the critical role of competent personnel and technological integration in enhancing village fund management accountability within Indonesian local governance contexts.

Self-Efficacy and Internal Control Effects on Village Fund Management Accountability

Missa Kristina Nababan — 2025-08-05

This research examines the influence of self-efficacy and internal control systems on village fund management accountability in North Tambusai District, Rokan Hulu Regency. Employing quantitative methodology, data from 78 village officials were analyzed through multiple linear regression using SPSS 26. Results demonstrate that both self-efficacy and internal control systems significantly and positively affect accountability, both partially and simultaneously, explaining 41.3% of accountability variance. The remaining 58.7% is attributed to factors not examined in this study. These findings emphasize the critical importance of enhancing village officials' confidence in their capabilities and strengthening internal control mechanisms to achieve optimal accountability in village fund management within Indonesian local governance contexts.

Green Accounting and Corporate Governance Effects on Mining Financial Performance

Putra Pratama — 2025-08-05

This study investigates how green accounting practices and good corporate governance mechanisms affect financial outcomes in Indonesian mining corporations listed on the Indonesia Stock Exchange in 2021–2023. Employing quantitative methodology, we analyzed secondary data from 19 purposively selected companies' annual reports using SPSS version 26 path analysis. Results demonstrate that green accounting negatively but insignificantly influences financial performance (p=0.805), while good corporate governance shows significant positive effects (p=0.013). Combined, both variables significantly impact financial outcomes (p=0.030). These findings suggest integrating green accounting with robust governance frameworks enhances organizational performance. Mining companies should strengthen governance implementation and incorporate environmental accounting into strategic sustainability planning.

Literature Review: Utilization of Augmented Reality (AR) in Learning for Students with Special Needs

Yusuf Ijonris — 2025-08-05

This study is a literature review aimed at exploring the utilization of Augmented Reality (AR) technology in the education of students with special needs. A systematic literature review method based on the PRISMA protocol was employed, with sources collected from databases such as Scopus, ScienceDirect, Google Scholar, and Sinta. A total of 15 selected articles met the inclusion criteria, which included a focus on AR in special education and publication years between 2015 and 2024. The results show that AR helps students with special needs, such as those with intellectual disabilities, autism spectrum disorder, and visual impairments, pay more attention, understand concepts better, and be more motivated to learn. Furthermore, research demonstrates that AR fosters student independence and engagement by utilizing interactive visuals and immersive learning experiences. This review recommends broader integration of AR into inclusive education curricula and draws attention to the importance of teacher training in AR-based instructional methods. Future research is encouraged to develop AR applications tailored to specific student needs and to empirically evaluate their effectiveness across educational levels.

Web-Based Collector Performance Scoring System for Banking Institutions

Hegi Audria Sitorus — 2025-08-05

This study develops a web-based collector performance assessment system utilizing scoring methodologies aligned with confidential banking institutional parameters. The evaluation framework integrates quantitative metrics (personal performance and ratings), qualitative indicators (login discipline and productivity alignment), and supplementary measures (warning letters and complaint records). Developed using Flask framework, the system underwent validation with operational data from approximately 1,000 collectors across multiple work units. The platform standardizes assessment workflows through automated data cleaning, adjustment procedures, and report generation with real-time visualization capabilities. User Acceptance Testing yielded satisfactory outcomes, confirming the system's effectiveness in minimizing human error, delivering accurate summaries for contract renewal decisions and Performance Improvement Plan monitoring, while ensuring consistent scoring methodology across organizational units.

Implementation of BFS and DFS Algorithms to Support Operational Decisions in Higher Education Information Systems

Fahmi Ruziq — 2025-08-05

In higher education, effective academic planning plays a crucial role in supporting student success and institutional efficiency. This study explores the implementation of Breadth First Search (BFS) and Depth First Search (DFS) algorithms to support operational decision-making in academic information systems. These graph-based algorithms are utilised to model curriculum structures, particularly in identifying optimal paths between prerequisite courses. BFS is applied to determine the shortest academic paths, while DFS is employed to explore deeper learning trajectories. Using real curriculum data from a university information system, both algorithms were tested to simulate course dependency mapping. The results demonstrate that BFS efficiently identifies minimum-step paths, which are helpful for academic advisors and students in planning semester schedules. On the other hand, DFS offers comprehensive insight into all possible course progressions. This research highlights the potential of algorithmic approaches to enhance the decision-making process in academic planning. Future developments may include integration with recommendation systems and predictive analytics to further support personalised learning paths.

Web-Based Sales Information System Design for Andre Florist

Joel Aribinata Ambarita — 2025-08-05

Andre Florist operates a flower sales and decoration service business relying on manual systems, resulting in transaction inaccuracies, order processing delays, and restricted customer accessibility. This research develops a web-based sales information system to enhance operational efficiency and customer service quality. Data collection employs literature reviews, observations, interviews, and document analysis to establish system requirements. The proposed system incorporates product management capabilities, online ordering functionality, inventory control mechanisms, and real-time sales reporting features. Implementation of this web-based solution aims to expand marketing reach, improve data accuracy, and streamline transaction management for informed business decision-making at Andre Florist.

Mobile Information System Design for Agricultural Commodity Prices in Simalungun

Nathalia Purba — 2025-08-05

The agricultural sector is one of the important sectors in the Indonesian economy. However, the availability of data and information on agricultural commodity prices is not yet available in real time and easily for farmers, the community and others. In Simalungun Regency, agricultural product price information is still distributed manually and unevenly. Research was conducted to overcome the problem by building a mobile-based agricultural commodity price information system that can be easily accessed by users based on the Android platform. This system was developed using the waterfall method, which includes the Requirements Analysis, System Design, Implementation and Testing phases. The test results show that this system can display commodity price data in real time and is user friendly, making it easier for users to access price data in this area. The implementation of this system is expected to increase the efficiency of price information distribution, encourage data transparency, and enable better decision making for all parties.

Web-Based Cashier Application for Dunia Coin Laundry

Debora Br Parhusip — 2025-08-05

Dunia Coin Laundry is a laundry service business based ini Simalingkar B, North Sumatra. As the number of customers increases, the manual recording system has become a challenge due to its tendency for errors and delays ini financial reporting. To address this, a web-based cashier application was developed to help record income from customers and operational expenses more quickly and neatly. The development process involved analyzing system requirements, designing using Data Flow Diagrams (DFD) and Entity Relationship Diagrams (ERD) and implementing the system with PHP, HTML, CSS and My SQL through XAMPP. This application allows cashiers and owners to manage transactions, monitor daily finances and generate reports efficiently. Additionally, customers can also check their transaction status through a dedicated dashboard. As a result, the overall laundry operations have become more structured and efficient.

Whitebox Testing of A Restaurant Reservation System Using the Basis Path Technique

Surahmat Surahmat — 2025-08-05

Software testing is a crucial phase in the system development process to ensure that features and functions operate according to design specifications. This study aims to test a restaurant reservation system using the whitebox testing method with the basis path technique. The testing was conducted through the analysis of the Control Flow Graph (CFG), calculation of Cyclomatic Complexity, and identification of independent paths representing various reservation scenarios, ranging from successful bookings to failure conditions such as invalid input, unavailable tables, and incomplete customer data. The test results revealed seven paths derived from the basis path technique applied to the restaurant reservation system, all of which produced outcomes that matched expectations, with every test case passing successfully. This confirms that the system’s logic functions properly and reliably across different user interactions. The application of the basis path technique proved effective in validating the system’s control flow and enhancing reliability prior to deployment. This research contributes to the development of more stable systems and improved user experience

Design of Web-Based Information System for Sales of Food Materials at Jaya Anugerah Shop

Mirandawati Sihombing — 2025-08-05

Jaya Anugerah Store operates as a retail enterprise specializing in essential consumer goods and household necessities. The establishment has gained considerable recognition within the Kapten Muslim district, with its primary location at Jalan Kapten Muslim No.206, Helvetia Tengah, attracting a substantial regular customer base. Despite its market presence, the store continues to depend on conventional manual systems, resulting in various operational limitations. This research addresses these challenges by developing a web-based sales platform enabling customers to place orders digitally and complete transactions through cashless payment methods without requiring physical store visits. The implemented solution delivers multiple benefits including streamlined transaction workflows, broader market accessibility, enhanced sales monitoring capabilities, improved customer confidence, while simultaneously advancing the researcher's competencies in web-based system development. Research methodology incorporated direct observational studies and structured stakeholder interviews.

Cash Flow Information System at Cafe and Resto Tepi Coffee Samosir Based on Desktop Application

Kesia Astuti Sihombing — 2025-08-05

The advancement of information technology provides opportunities for businesses to manage operations more efficiently, including cash flow management. Cafe and Resto Tepi Coffee Samosir requires a structured and accurate financial system to support decision-making. A desktop-based cash flow information system was developed to simplify the recording of cash inflows and outflows and generate accurate financial reports. Built using Visual Basic .NET with a MySQL database and integrated with Crystal Report, the system features income and expense transaction recording, daily and monthly cash flow reports, and cashier shift management. It helps reduce manual recording errors and accelerates financial data recap. System testing shows the application performs well and supports real-time financial monitoring for business management.

Implementation of Bayes Theorem-Based Expert System for Heavy Equipment Engine Damage Diagnosis

Sony Oktapriandi — 2025-08-05

Current failure diagnosis in heavy equipment relies heavily on manual technician analysis, which is time-consuming and subjective. This study develops a Bayesian Theorem-based expert system to automate failure detection by quantifying symptom-failure conditional probabilities. Using Agile Scrum methodology, the system integrates a knowledge base of 10 common failure types and 50 associated symptoms from industrial case data. Test results demonstrate the system's ability to identify primary failures (e.g., Hard to Start/K01) with 47.06% accuracy in test cases, reducing diagnosis time from hours to minutes. The implementation shows potential to significantly decrease equipment downtime and maintenance costs in industrial applications.

Influence of Ownership Structure and Company Scale on Dividend Distribution with Debt Management Mediation

Yuni Shara Simangunsong — 2025-08-05

This investigation examines the influence of ownership composition and corporate size on dividend distribution policies, with debt management acting as a mediating variable. The study analyzes mining companies listed on the Indonesia Stock Exchange between 2020 and 2023. Employing purposive sampling techniques, 23 corporations were examined using Structural Equation Modeling (SEM) through WarpPLS 8.0 software. Results demonstrate that ownership composition and corporate size exhibit positive effects on dividend distribution, while ownership structure shows negative associations with debt management. Furthermore, debt management serves as a mediating factor in the relationship between ownership structure and dividend distribution. These findings highlight the importance of balancing ownership composition with debt management strategies to optimize dividend decision-making. The study provides essential insights for corporate executives and stakeholders in developing effective financial strategies.

Factors Affecting the Profitability of Real Estate Companies Listed on the Stock Exchange in Vietnam

Thi Minh Trang Lai — 2025-08-05

In early 2024, Vietnam's real estate market is forecast to have development potential, will change and progress significantly well, this will also be the year that lays the foundation for a new cycle. Understanding factors affecting the profitability of real estate firms on the Stock Exchange will help investors, regulators, and businesses have a clearer view of the potential and risks of the real estate market. This article studies the factors affecting the profitability of 44 real estate firms listed on the Vietnamese Stock Exchange in the period 2018-2023 using 3 regression models OLS, FEM, REM. The results show that financial leverage has a negative impact on the profitability of real estate businesses, on the contrary, asset structure, liquidity, and revenue growth rate have a positive influence.

Do Profitability and Investment Opportunities Signal Firm Value? Evidence From Indonesia’s Consumer Non-Cyclicals Sector

Eka Nia Suherti Br. Ginting — 2025-08-05

This research investigates how Profitability, measured through Return on Assets (ROA), and Investment Opportunity Set, assessed via Market Value to Book Value of Equity (MVBVE), influence Firm Value as indicated by Price to Book Value (PBV). The study addresses fluctuations in Firm Value driven by Profitability metrics and Investment Opportunity Set. Employing a quantitative methodology with causal-comparative design, the research utilized secondary data from 125 consumer non-cyclicals enterprises listed on the Indonesia Stock Exchange between 2019 and 2023. Through purposive sampling, 36 companies were selected, and analysis was conducted using PLS-SEM methodology via WarpPLS 8.0 software. Results demonstrate that both Profitability and Investment Opportunity Set exert positive and statistically significant impacts on Firm Value. This study enhances signaling theory understanding within Indonesia's capital market framework.

From Profit to Payout: Unraveling Financial Influences on Dividend Policy in Indonesian Banks

Naomi Harahap — 2025-08-05

This research investigates how profit growth, leverage measured through DER, profitability assessed via ROA, and liquidity evaluated using LDR influence dividend policy indicated by DPR in Indonesian banking institutions. The central research problem addresses the variability in dividend policy patterns, as reflected in DPR fluctuations, which are influenced by corporate profit growth trajectory, leverage structure, profitability performance, and liquidity management. Employing a quantitative methodology with causal-comparative analysis utilizing secondary financial data, this investigation encompasses 47 banking sector entities registered on the Indonesia Stock Exchange spanning 2019-2023. Through purposive sampling methodology, 11 institutions were identified for detailed examination. Statistical analysis was performed using PLS-SEM methodology via WarpPLS 8.0 software. Research findings demonstrate that profit growth, leverage, and profitability exhibit statistically significant positive correlations with dividend policy formulation, while liquidity shows a positive but statistically insignificant influence on dividend policy decisions.

Financial Ratios and Firm Size Impact on Corporate Value: Indonesian Consumer Goods Analysis

Seba Shabina Br. Sembiring — 2025-08-05

This investigation analyzes how financial performance indicators and organizational scale influence corporate value within Indonesia's primary consumer goods sector during 2020-2023. Utilizing Indonesia Stock Exchange data, the research measures liquidity through Current Ratio (CR), solvency via Debt to Equity Ratio (DER), operational efficiency using Total Asset Turnover (TATO), profitability through Return on Assets (ROA), and firm scale via the natural logarithm of total assets. Corporate value assessment employs Tobin's Q ratio. Through purposive sampling methodology, 42 companies were selected for multiple linear regression examination. Results indicate that liquidity and solvency demonstrate no significant individual impact on firm value, while operational activity and firm size exhibit significant negative effects. Profitability shows a significant positive influence on corporate valuation. Collectively, all variables demonstrate significant combined effects on firm value, emphasizing the multifaceted nature of value determination in Indonesia's consumer goods industry.

GCG, CSR and Profitability: Drivers of Firm Value in Indonesia’s Consumer Goods Industry

Bethceba Sulya Anugrah Panggabean — 2025-08-05

This research examines how Good Corporate Governance (GCG), Corporate Social Responsibility (CSR), and profitability influence firm valuation within Indonesia's consumer goods industry. Using secondary panel data from 23 publicly traded companies spanning 2019-2023, multiple linear regression analysis with logarithmic transformation was employed. Results demonstrate that GCG exhibits a statistically significant negative impact on firm value, while CSR and Return on Assets (ROA) show significant positive influences. Collectively, these variables explain 57.7% of firm value variance. The findings indicate that financial performance and transparent CSR reporting serve as primary value creators, while governance effectiveness appears questionable in the Indonesian context.

Profitability, Size, Investment Decisions and Liquidity Effects on Property Firm Value

Febrima Ozora Br. Bangun — 2025-08-05

This study examines the influence of profitability, company size, investment decisions, and liquidity on firm value among Indonesian property and real estate companies during 2020-2023. Using Indonesia Stock Exchange data, the research measures profitability through Return on Assets (ROA), company size via natural logarithm of total assets, investment decisions using Price-to-Earnings Ratio (PER), and liquidity through Current Ratio (CR). Firm value is assessed using Tobin's Q. Through purposive sampling, 23 companies were selected for multiple linear regression analysis. Results indicate that profitability demonstrates significant positive effects on firm value, company size shows significant negative influence, liquidity exhibits significant negative impact, while investment decisions show no significant effect. Collectively, all variables significantly influence firm value, explaining the importance of financial management in property sector valuation.

Profitability Effect on Firm Value Through Dividend Policy Mediation in Indonesian Manufacturing Companies 2019-2023

Imianta Veronica Manik — 2025-08-05

This study provides empirical evidence regarding the mediating role in the relationship between profitability and firm value in Indonesian manufacturing companies. Utilizing purposive sampling methodology, we examined 42 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023, resulting in 210 observations. The analysis employed WarpPLS version 8.0 software for PLS-SEM analysis. Our findings reveal that profitability (ROA), capital structure (DER), and dividend policy (DPR) demonstrate significant positive effects on firm value (PBV). Additionally, profitability exhibits a positive influence on dividend policy. The mediation analysis confirms that dividend policy successfully mediates the relationship between profitability and firm value. However, liquidity (CR) shows a significant negative impact on firm value, contradicting our initial hypothesis.

The Role of Profitability in Mediating Financial Performance and Company Values

Felixman Zebua — 2025-08-05

This research seeks to demonstrate that profitability serves as a mediating factor in the relationship between asset growth and company value. The study population consists of companies within the Consumer Non-Cyclicals financial sector that are listed on the Indonesia Stock Exchange during the period 2019-2023. A purposive sampling approach was employed, resulting in a sample of 28 companies. Data analysis was conducted using WarpPLS version 8.0. The findings reveal that profitability successfully acts as a complete mediator in the relationship between asset growth and firm value.

The Effect of Profitability, Liquidity, and Capital Structure on Firm Value With Mediation of GCG

Agnes Lovika Br. Purba — 2025-08-05

This study provides empirical evidence regarding good corporate governance (GCG) mediation in the relationship between profitability and firm value in Indonesian non-primary consumer goods companies. Utilizing purposive sampling methodology, we examined 26 non-primary consumer goods companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023, resulting in 130 observations. The analysis employed WarpPLS version 8.0 software for PLS-SEM analysis. Our findings reveal that profitability (ROA), liquidity (CR), and capital structure (DER) demonstrate significant positive effects on firm value (Tobin's Q). Additionally, profitability exhibits a positive influence on good corporate governance. The mediation analysis confirms that good corporate governance successfully mediates the relationship between profitability and firm value, providing crucial insights for strategic governance implementation in emerging markets.

Profitability, Capital Structure, and Dividend Policy Effects on Primary Consumer Goods Firm Value

Refelita Br. Hombing — 2025-08-05

This study examines the influence of profitability, capital structure, and dividend policy on firm value among primary consumer goods companies listed on the Indonesia Stock Exchange (2020–2023). Using purposive sampling, 13 companies were analyzed through secondary data from financial statements. Profitability was measured by Return on Assets (ROA), capital structure by Debt-to-Equity Ratio (DER), dividend policy by Dividend Payout Ratio (DPR), and firm value by Price to Book Value (PBV). Multiple linear regression results show that the three variables jointly have a significant effect on firm value. Individually, profitability and dividend policy significantly affect firm value, while capital structure has no significant effect. The findings offer insights for financial management and investment decisions in Indonesia’s primary consumer goods sector.

Electric Versus Conventional Vehicles: Economic Feasibility Analysis in Indonesian Logistics

Isnian Adiwijaya — 2025-08-05

This study examines the economic feasibility of electric versus conventional delivery vehicles in Indonesia's logistics sector, addressing the gap between environmental sustainability goals and financial viability concerns. Using Total Cost of Ownership (TCO) and Net Present Value (NPV) analysis, we analyzed operational data from PT Pos Indonesia's Karawang Branch over a five-year period. Cost components included initial investment, energy consumption, maintenance, insurance, taxes, and resale values. Results reveal conventional vehicles have lower TCO (IDR 72,452,343 versus IDR 75,008,120), but electric vehicles demonstrate superior long-term investment returns with positive NPV (IDR 53,832,465 versus negative IDR 524,074,394). Despite higher upfront costs, electric vehicles offer significant operational savings through reduced energy and maintenance expenses. These findings provide empirical evidence supporting electric vehicle adoption in Indonesian logistics, contributing to sustainable transportation policy development and corporate fleet management decisions.

Profitability as Mediator of Dividend and Size on Debt Policy (IDX, 2019-2023)

Rotua Lumban Gaol — 2025-08-05

This research explores the mediating role of profitability in the relationship between dividend policy, firm size, and debt policy among companies listed on the Indonesia Stock Exchange during 2019-2023. Using purposive sampling methodology, 15 companies were selected and analyzed with WarpPLS 8.0 software for PLS-SEM analysis. The findings reveal that dividend policy negatively affects debt policy, firm size positively affects debt policy, and profitability mediates the relationship between dividend policy and debt policy. These results support both Pecking Order and Trade-Off Theories in explaining corporate debt decisions in the Indonesian financial sector.

Company Size Mediating Liquidity, Solvency, and Profitability Effects on Energy Firm Value

Serys Purnama Sari Lubis — 2025-08-05

This research examines company size's mediating influence on the relationship between liquidity, solvency, profitability, and firm value within Indonesia's energy sector. Employing purposive sampling, we analyzed 18 energy companies listed on the Indonesia Stock Exchange from 2019-2023. Data analysis utilized WarpPLS software version 8.0 for SEM-PLS analysis. Results demonstrate that liquidity, solvency, and profitability simultaneously enhance firm performance. However, profitability alone does not significantly impact firm value directly. Notably, company size successfully mediates the relationship between profitability and organizational value. The findings suggest that larger energy companies can better transform profitability gains into enhanced market valuation, highlighting the strategic importance of asset growth in value creation within Indonesia's energy sector.

Good Corporate Governance and Financial Performance Influence on Firm Value: Indonesian Infrastructure Sector Analysis

Catherine Audry Rebecca Marpaung — 2025-08-05

This investigation examines the influence of corporate governance mechanisms and financial performance on organizational value among infrastructure sector entities listed on the Indonesia Stock Exchange throughout 2020-2023. Through purposive sampling methodology, 31 corporations were identified from a population of 51 enterprises, generating 124 observations. Data obtained from annual financial disclosures were analyzed using SPSS version 26. Results indicate that institutional ownership demonstrates positive but statistically non-significant effects on organizational value, while board of commissioners exhibits negative significant influence. Conversely, financial performance shows positive significant impact. The determination coefficient reveals that independent variables collectively explain 11.8% of organizational value variation, with remaining 88.2% attributed to unexamined factors.

The Impact of Environmental and Social Factors on Mining Firms' Financial Performance

Maria Astuti Br Gurusinga — 2025-08-05

This research investigates how environmental performance, environmental costs, and social responsibility influence financial performance in mining corporations. Utilizing purposive sampling, eleven mining enterprises listed on the Indonesia Stock Exchange during 2020–2023 were examined through secondary data analysis. Environmental performance was assessed using PROPER ratings, environmental costs through cost-to-profit ratios, social responsibility via CSRI index, and financial performance through Return on Assets (ROA). Multiple linear regression analysis reveals that environmental performance significantly impacts financial performance (sig. 0.003 < 0.05), whereas environmental costs and social responsibility demonstrate no significant individual effects (sig. 0.413 and 0.867 respectively). However, simultaneous testing confirms all three variables collectively influence financial performance significantly (F-value 4.748, sig. 0.008). The model explains 24.3% of financial performance variation. These findings provide valuable insights for sustainable business strategies in the extractive industry sector.

Environmental Performance and Green Accounting Effects on Firm Value in Indonesian Consumer Goods Sector

Prengki Sahat Tua Pasaribu — 2025-08-05

This study investigates environmental performance and green accounting impacts on firm value within Indonesia's consumer goods sector. Utilizing purposive sampling, ten companies listed on the Indonesia Stock Exchange during 2020-2023 were analyzed through multiple regression techniques. Environmental performance, measured via PROPER ratings, demonstrates significant positive influence on firm value. Conversely, green accounting exhibits negative but statistically insignificant effects. The coefficient of determination reveals that these variables explain 20% of firm value variation, with remaining factors attributed to unexamined variables. These findings contribute valuable insights for investors and management regarding sustainable practices' role in value creation and strategic decision-making processes.

Market Response to Financial Signals in Indonesia's Post-Pandemic Insurance Sector

Alisa Christiani Br Sinaga — 2025-08-05

This investigation examines market responses to financial signals within Indonesia's insurance sector during 2019-2023, emphasizing post-pandemic dynamics. Employing secondary data from 16 insurance companies listed on the Indonesia Stock Exchange, multiple linear regression analysis explores net profit, cash flow, and firm size effects on stock prices. Findings demonstrate that exclusively firm size significantly influences stock prices (β = 0.110, p = 0.028), whereas net profit and cash flow exhibit positive but statistically insignificant effects. These results validate signaling theory and reveal flight-to-quality investor behavior amid economic uncertainty. This research contributes substantially to understanding Indonesia's post-pandemic capital market dynamics, particularly within the insurance sector experiencing considerable transformation through economic disruption and regulatory intervention, emphasizing investor preference for stability indicators over short-term performance metrics during crisis recovery.

Financial Impact of CSR Practices and Public Ownership in Indonesian Plantation Sector

Intan Dewita Situmorang — 2025-08-05

This investigation examines financial implications of corporate social responsibility disclosure and public ownership within Indonesia's plantation sector during 2020-2023. Employing purposive sampling of 11 firms listed on the Indonesia Stock Exchange, the study applies multiple linear regression analysis. CSR disclosure is measured using the GRI-G4 index, while financial performance is proxied by return on assets. Results demonstrate that CSR disclosure exhibits positive but statistically insignificant effects on financial performance (β = 7.259, p = 0.210), while public share ownership significantly and positively influences ROA (β = 0.228, p = 0.007). The combined model accounts for 17% of ROA variance, highlighting strategic yet nuanced roles of CSR and ownership structure in shaping financial outcomes.

Factors Affecting Investment Decisions in Capital Market Study Community

Octavia Nadeak — 2025-08-05

This research investigates risk tolerance, overconfidence, and financial literacy influences on investment decisions within Methodist University Indonesia's capital market study community. Employing quantitative methodology with primary data, the study uses multiple linear regression analysis. Through purposive sampling, 50 respondents were selected and analyzed using SPSS version 26. T-test results reveal risk tolerance exerts negative significant effects, while overconfidence and financial literacy demonstrate positive significant effects on investment decisions. The F-test confirms all variables collectively exhibit significant simultaneous influence. The adjusted R² of 0.529 indicates a 52.9% variance explanation, with the remaining factors unexplored.

Factors Affecting Budget Absorption in North Tapanuli Agency

Anna Canria Siburian — 2025-08-05

This research examines budget planning, budget implementation, and goods/services procurement process influences on budget absorption at North Tapanuli Regional Finance and Assets Agency. Employing quantitative descriptive methodology, the study utilizes purposive sampling among agency employees. Data collection involves questionnaire distribution and literature review, analyzed through multiple linear regression using SPSS version 26. Results demonstrate that all three independent variables exert positive and significant effects on budget absorption, both simultaneously and partially. The determination coefficient indicates 41.2% variance explanation by these variables, with remaining 58.8% influenced by unexamined factors.

The Effect of Capital Structure, CSR, and Financial Performance on Industrial Firm Value 2019-2023

Tantri Yunita Nahampun — 2025-08-05

This study investigates the influence of capital structure, corporate social responsibility (CSR), and financial performance on firm value within Indonesia's industrial sector companies. The research examines 20 industrial companies listed on the Indonesia Stock Exchange during 2019-2023 using purposive sampling methodology. Capital structure is measured using Debt to Equity Ratio (DER), CSR activities through Corporate Social Responsibility Index (CSRi), financial performance via Return On Assets (ROA), and firm value using Tobin's Q. Multiple linear regression analysis reveals that DER and ROA demonstrate statistically significant positive effects on firm value, while CSR exhibits a significant negative relationship. The findings suggest that optimal capital structure management and efficient asset utilization enhance firm valuation, whereas extensive CSR disclosures may potentially impose financial burdens. This research contributes empirical evidence from Indonesia's emerging market context, providing valuable insights for corporate financial management strategies in developing economies.

Company Size, Leverage, and Profitability Effects on Internet Financial Reporting

Mitha Christina Ginting — 2025-08-05

Financial information reporting via internet has become important means for business entities presenting financial data through digital platforms. This study analyzes company size, leverage, and profitability impacts on internet financial reporting implementation in food and beverage industry listed on Indonesia Stock Exchange during 2020-2023. Employing quantitative methodology with purposive sampling, 23 companies were selected as research samples. Data analysis includes descriptive statistics, classical assumption tests, multiple linear regression, and hypothesis testing. Empirical findings reveal that company size, leverage, and profitability exert positive and significant influences on internet financial reporting practice, explaining 45.3% variance with remaining 54.7% influenced by unexamined factors.

Non-Cyclical Company Value in Indonesia: Analysis of Determining Factors Using an Intervening Variable Approach

Evi Juita Wailan'An — 2025-08-05

This study looks at how liquidity, capital structure, and operational efficiency affect the value of companies in Indonesia's non-cyclical sector, using profitability as a middle factor. Grounded in the significance of maximizing shareholder wealth as a long-term performance indicator, this research examines 129 non-cyclical companies traded on the Indonesia Stock Exchange between 2020 and 2023. Through purposive sampling methodology, 82 companies were selected for analysis. Using a quantitative descriptive framework and SmartPLS analytical tools, the results show that capital leverage ratios and asset utilization efficiency directly increase the value of a company. Conversely, debt financing exhibits an inverse relationship with profitability metrics. These outcomes illustrate the vital role of strategic capital management and resource optimization in value creation.

The Impact of Green Accounting and Environmental Performance on Financial Performance of Indonesian Textile Companies

Aldius Simandalahi — 2025-08-05

This research investigates how green accounting practices and environmental performance influence financial outcomes in textile and apparel firms listed on the Indonesia Stock Exchange during 2020-2022. Employing purposive sampling, the study analyzes 13 companies over three years using IBM SPSS Statistics 26. Results demonstrate that green accounting significantly enhances financial performance (t=5.019, p<0.05), while environmental performance also shows positive influence (t=2.728, p<0.05). The simultaneous effect of both variables proves significant (F=14.217, p<0.05), with a combined explanatory power of 41%. These findings suggest that integrating environmental considerations into accounting practices and improving environmental management create synergistic effects that enhance profitability. Companies adopting sustainable business practices can achieve dual objectives of environmental responsibility and improved financial returns.

Altman Z-Score Bankruptcy Prediction in Food and Staple Retail Sector

Evangelica Christina Sianipar — 2025-08-05

This research investigates bankruptcy potential within Indonesia's food and staple retail sector using the Altman Z-Score methodology. Analyzing nine companies listed on the Indonesia Stock Exchange during 2020-2023, findings reveal that two firms—Hero Supermarket Tbk and Matahari Putra Prima Tbk—demonstrate severe financial distress with Z-Scores ≤1.81. Hero Supermarket Tbk exhibited the most critical condition, showing consistently declining Z-scores accompanied by negative profitability and liquidity ratios across four consecutive years. Matahari Putra Prima Tbk similarly fluctuated within the distressed zone throughout the observation period. Results underscore the necessity for continuous financial performance monitoring and proactive management interventions to mitigate bankruptcy risks. These findings provide valuable insights for stakeholders regarding financial health assessment and early warning system implementation in retail operations.

Firm Characteristics and CSR Disclosure in Indonesian Manufacturing Companies

Agnes Daevany Kinanti — 2025-08-05

This research investigates how firm characteristics influence Corporate Social Responsibility (CSR) disclosure practices among manufacturing enterprises listed on the Indonesia Stock Exchange during 2020-2023. Employing quantitative methodology with multiple regression analysis, 22 companies were examined based on predetermined selection criteria. Financial data were obtained through systematic documentation of annual and sustainability reports from official IDX sources. Empirical findings reveal that firm size and profitability demonstrate no significant influence on CSR disclosure levels, whereas leverage exhibits positive and significant effects. These results provide valuable implications for regulatory bodies and corporate management in enhancing transparency frameworks and integrating firm-specific characteristics into CSR reporting strategies. Future investigations should incorporate additional determinant variables while expanding sample sizes and timeframes for enhanced generalizability.

Determinants of Firm Value in Indonesian Healthcare Sector

Yesshe Purba — 2025-08-05

This research investigates liquidity, profitability, growth, and ownership structure effects on healthcare company valuations. Utilizing purposive sampling methodology, twelve companies were analyzed from Indonesia Stock Exchange listings during 2019-2023. Multiple regression analysis through SPSS 26 examined Current Ratio, Return on Assets, Asset Growth, and Institutional Ownership influences on Tobin's Q. Findings reveal liquidity and profitability demonstrate insignificant effects, whereas growth and ownership structure significantly impact firm value. Collectively, independent variables substantially influence valuations. These results provide critical insights for healthcare sector financial management and investment decision-making processes within emerging market contexts.

Investment Decisions, Debt Policy, and Dividend Policy Effects on Firm Value in Indonesian Banking Companies

Asima Lidia Rosa Purba — 2025-08-05

This research investigates how Price to Earnings Ratio (PER), Debt to Equity Ratio (DER), and Dividend Payout Ratio (DPR) influence firm value measured through Tobin's Q in banking institutions listed on the Indonesia Stock Exchange during 2020–2023. Utilizing quantitative methodology with secondary data from audited financial statements, findings demonstrate PER exerts significant positive influence on firm value, while DPR exhibits significant negative impact. DER shows no significant effect. Results support signaling and trade-off theories in financial decision-making contexts. These insights benefit corporate managers in strategic financial planning and assist investors in evaluating firm performance.

Asset Growth, Credit Risk, and Operational Efficiency Effects on Indonesian Banking Profitability 2019-2023

Vivin Ekklesya Siregar — 2025-08-05

This research investigates the impact of asset growth, credit risk, and operational efficiency on banking profitability among Indonesian Stock Exchange-listed financial institutions during 2019-2023. The banking sector serves as Indonesia's economic foundation, where profitability assessment is crucial for evaluating financial system health. The study employs asset growth rate as a proxy, the non-performing loan ratio for credit risk measurement, and the expense-to-income ratio for operational efficiency assessment, while return on assets represents banking profitability. Utilizing purposive sampling with WarpPLS 7.0 software, the research analyzes data from banking companies. Findings reveal that asset growth demonstrates positive significant effects on banking profitability (path coefficient 0.352, p-value 0.003), while credit risk shows negative significant influence (path coefficient -0.270, p-value 0.020). However, operational efficiency demonstrates a non-significant impact on banking profitability (path coefficient 0.128, p-value 0.174). These results offer helpful suggestions for banking management strategies in Indonesia's financial sector.

Capital Structure, Sales Growth, and Liquidity Effects on Profitability in Property Companies

Santi Magdalena Siahaan — 2025-08-05

Profitability optimization represents a critical success factor requiring a comprehensive understanding of financial determinants in the property sector. This research examines the capital structure, sales growth, and liquidity impacts on profitability measured through return on equity among Indonesian property companies during 2021–2023. Employing quantitative methodology with purposive sampling, 78 firm-year observations comprised the research sample. Data analysis includes multiple linear regression with classical assumption tests utilizing SPSS version 27. Empirical findings reveal capital structure exerts a negative and significant effect on profitability, while sales growth and liquidity demonstrate negative but insignificant influences. Collectively, variables explain 62.5% profitability variance, with the remaining 37.5% influenced by unexamined factors, offering strategic insights for financial decision-making optimization.

Fraud Hexagon, Machiavellian, and Love of Money Determinants of Village Fund Mismanagement

Deda Sasmita Sinaga — 2025-08-05

Village fund mismanagement represents a critical governance challenge requiring a comprehensive understanding of behavioral and structural fraud determinants. This research examines fraud hexagon elements (financial pressure, capability, opportunity, rationalization, arrogance, and collusion), Machiavellian traits, and the impact of love of money on village fund fraud in Bangko Pusako District, Rokan Hilir Regency. Employing quantitative methodology with census sampling, 152 village officials participated as respondents. Data analysis includes multiple linear regression with classical assumption tests utilizing SPSS version 26. Empirical findings reveal capability and love of money exert significant positive effects on fraud, while other variables demonstrate insignificant influences. Collectively, variables explain 20.1% fraud variance, with the remaining 79.9% influenced by unexamined factors, offering insights for fraud prevention strategies.

Operational Efficiency, Capital Adequacy, and Asset Turnover Effects on Return on Equity

Putri Martha Angelina Pangaribuan — 2025-08-05

This research examines operational efficiency, capital adequacy, and asset turnover impacts on return on equity in the Indonesian banking sector. Utilizing purposive sampling methodology, 28 banking companies listed on the Indonesia Stock Exchange during 2019-2023 were selected from a 47-company population. Secondary data underwent analysis through the SPSS version 26 application. Empirical findings reveal operthat operational efficiency and capital adequacy have negative significant effects, while asset turnover has aitive significant influence on return on equity. Collectively, these variables explain 78.0% variance in return on equity, with the remaining 22.0% attributed to unexamined factors.

Profitability Indicators Effects on Earning Response Coefficient in Manufacturing Sector

Rani Agustines Purba — 2025-08-05

This research examines profitability indicators' impacts on the earning response coefficient in the food and beverage manufacturing subsector. Utilizing purposive sampling methodology, 12 companies listed on the Indonesia Stock Exchange during 2020-2023 were selected, generating 48 observations. Secondary data underwent analysis through the SPSS version 26 application employing descriptive statistics, classical assumption tests, multiple linear regression, and hypothesis testing. Empirical findings reveal Return on Asset and Net Profit Margin demonstrate insignificant effects, while Return on Equity exhibits negative significant influence on Earning Response Coefficient. Collectively, profitability indicators explain 55.7% of the variance in the earning response coefficient, with the remaining 44.3% attributed to unexamined factors.

Green Innovation And Financial Performance Effects On Firm Value In Manufacturing Sector

Nadia Aprianti — 2025-08-05

This research examines green innovation and financial performance impacts on firm value in manufacturing companies. Utilizing purposive sampling methodology, 80 companies listed on the Indonesia Stock Exchange between 2019-2023 were selected, generating 400 observations. Secondary data underwent analysis through the SPSS version 26 application employing descriptive statistics, classical assumption tests, multiple linear regression, and hypothesis testing. Empirical findings reveal green innovation demonstrates a significant negative effect, while financial performance exhibits an insignificant positive influence on firm value. Collectively, these variables explain 2.4% variance in firm value determination, with the remaining 97.6% attributed to unexamined factors beyond the research scope.

Factors Influencing Profit Growth in Basic and Chemical Industry Companies

Lucyanna Yosephine Simangunsong — 2025-08-05

This research examines and analyzes the influence of Net Profit Margin (NPM), Total Asset Turnover (TATO), and Current Ratio (CR) on profit growth among companies in the basic materials and chemical sectors listed on the Indonesia Stock Exchange. The sample selection employed purposive sampling from 74 companies, resulting in 32 samples that satisfied the research criteria. The independent variables comprise NPM, TATO, and CR, while the dependent variable is profit growth. Partial testing results (t-test) reveal that NPM exerts a positive and significant influence on profit growth, whereas TATO and CR demonstrate positive but insignificant effects. Simultaneous testing results (F-test) indicate that NPM, TATO, and CR collectively exert a significant influence on profit growth. The Coefficient of Determination Test (R²) yields a value of 0.103, or 10.3%, signifying that NPM, TATO, and CR explain 10.3% of the variance in profit growth, while the remaining 89.7% is attributable to other variables outside the research model.

The Effect of Profitability on Firm Value With GCG as Mediator in Telecommunication Companies

Sonya L. Sinulingga — 2025-08-05

This study examines the mediating role of effective corporate governance in the relationship between profitability and firm value in Indonesian telecommunication companies. Using purposive sampling methodology, we analyzed 18 telecommunications companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023, resulting in 54 observations. The analysis employed PLS-SEM using WarpPLS 8.0 software. Our findings reveal that profitability (ROA), firm size (LnTA), and dividend policy (DPR) demonstrate significant positive effects on firm value (Tobin's Q). Additionally, profitability exhibits a significant positive influence on effective corporate governance. The mediation analysis confirms that excellent corporate governance successfully mediates the relationship between profitability and firm value. These results provide empirical evidence supporting signaling theory and agency theory in emerging market contexts.

Determinants of IPO Underpricing in Indonesian Stock Exchange 2021-2023

Yosia Elisawati Lubis — 2025-08-05

This study investigates the influence of organizational scale, earnings performance, and capital structure on equity underpricing among corporations executing Initial Public Offerings (IPOs) within the Indonesia Stock Exchange throughout 2021–2023. Utilizing comprehensive Indonesia Stock Exchange datasets, the investigation quantifies organizational scale through the natural logarithm of total assets, earnings performance via Return on Assets (ROA), and capital structure through the Debt to Equity Ratio (DER). Through purposive sampling methodology, 87 corporations were identified for multiple regression examination. Research outcomes indicate that earnings performance individually demonstrates statistically significant positive associations with underpricing, whereas organizational scale and capital structure exhibit non-significant relationships. Simultaneously, these three determinants collectively demonstrate significant influence on underpricing phenomena. These findings emphasize the critical importance of profitability indicators in establishing initial valuation outcomes within Indonesia's emerging capital markets.

Corporate Strategy: Dividend Policy, Ownership Structure, and Profitability as Key Determinants of Company Value

Elwincher Laowo — 2025-08-05

This study investigates the mediating role of profitability in the relationship between dividend policy, ownership structure, and firm value in Indonesian non-cyclical consumer sector companies. Using purposive sampling methodology, we examined 19 non-cyclical consumer companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023, resulting in 95 observations. The analysis employed PLS-SEM using WarpPLS 8.0 software. Our findings reveal that dividend policy (DPR) and ownership structure demonstrate significant positive effects on firm value (Tobin's Q). Additionally, dividend policy exhibits a significant positive influence on profitability (ROA). The mediation analysis confirms that profitability successfully mediates the relationship between dividend policy and firm value. These results provide empirical evidence supporting signaling theory and agency theory in emerging market contexts.

Factors that Influence Company Value with Dividend Policy as a Mediating Variable

Samaria Syalomita Pebi — 2025-08-05

This study examines the impact of profitability, leverage, and good corporate governance on company value, with dividend policy serving as an intermediary variable. The research examines healthcare companies listed on the Indonesian Stock Exchange from 2019 to 2023. Using purposive sampling, ten companies were selected for analysis. The study employed WarpPLS version 8.0 for data processing. Results indicate that profitability and leverage significantly and positively affect company value directly. However, satisfactory corporate governance shows no meaningful impact on firm valuation. The mediation analysis demonstrates that dividend policy effectively serves as an intermediary in the relationship between profitability and company value.

Impact of Firm Size, Profitability, Liquidity, and Leverage on Property and Real Estate Firm Value

Naomi Yessy Anastasya Siregar — 2025-08-05

This research examines how firm size, profitability, liquidity, and leverage influence firm value among Indonesian property and real estate companies between 2019-2023. Using Indonesia Stock Exchange data, the study measures firm size via Ln(total assets), profitability through Return on Assets (ROA), liquidity using Current Ratio (CR), and leverage via Debt to Equity Ratio (DER). Firm value is measured by Price to Book Value (PBV). Through purposive sampling, 15 companies were selected for multiple linear regression analysis. Findings reveal that firm size, profitability, and leverage individually exert significant positive effects on firm value, while liquidity demonstrates no significant impact. Collectively, all four variables show significant positive influence on firm value. These results emphasize the value of company size, profitability, and leverage in determining firm valuation within Indonesia's property sector.

Economic and Investment Feasibility Comparison Between Electric and Conventional Delivery Vehicles

Isnian Adiwijaya — 2025-08-05

Transportation is one of the main contributors to carbon emissions and fossil fuel consumption. In the context of national logistics, conventional vehicles still dominate goods distribution operations, including at PT Pos Indonesia. This study offers an economic evaluation of environmentally friendly vehicle alternatives, namely electric vehicles, which support sustainability and long-term cost efficiency. This study aims to compare the economic value between electric vehicles and conventional vehicles in the delivery of goods at PT Pos Indonesia's Karawang Main Branch Office. We used the Total Cost of Ownership (TCO) method, which takes into account the initial cost, energy, maintenance, insurance, yearly taxes, and resale value. We analyzed the long-term investment feasibility using Net Present Value (NPV). Results show that conventional vehicles have a TCO of IDR72,452,343, while electric vehicles have a TCO of IDR75,008,120. In addition, the NPV calculation shows that electric vehicles provide a positive NPV of IDR53,832,465, while conventional vehicles record a negative NPV of –IDR524,074,394. These results show that electric vehicles are viable in the long term. This study contributes to the theoretical literature on green logistics and supports practical decision-making. These findings are relevant for logistics industry players and policymakers in promoting the adoption of electric vehicles as a strategy for cost efficiency and decarbonization of the transportation sector.

The Relationship Between Liquidity, Sustainable Development, and Profitability of Commercial Banks: Empirical Evidence from Listed Banks on The Vietnam Stock Market

Tan Dat Nguyen — 2025-08-05

This study examined how liquidity and sustainable development (ESG) affect the profitability of 27 Vietnamese commercial banks from 2019-2023, using panel regression models. Key findings indicate that ESG factors have no significant impact on Return on Assets (ROA) or Return on Equity (ROE). However, liquidity and leverage management are crucial. A higher Loan-to-Deposit Ratio (LDR) positively impacts profitability, underscoring the importance of efficient lending. Conversely, a higher Debt-to-Asset Ratio (DAR) negatively affects ROE, highlighting the risks of excessive leverage. The Capital-to-Deposit Ratio (CDR) showed no significant effect The study recommends that regulators and bank managers prioritize strengthening core lending operations and prudent leverage management to enhance the Vietnamese banking system's financial stability.

Liquidity, Solvency, Profitability, and Company Size Effects on Profit Growth in Mining Companies

Enny Manalu — 2025-08-05

This research examines liquidity, solvency, profitability, and company size impacts on profit growth within mining sector entities listed on the Indonesia Stock Exchange. Utilizing quantitative methodology with a purposive sampling approach, 23 companies were selected from 97 population entities during the 2019-2023 observation period. Data sourced from www.idx.co.id underwent analysis through the SPSS version 26 application. Empirical findings reveal liquidity negatively influences profit growth, solvency demonstrates negative effects on profit growth, profitability exhibits positive impacts on profit growth, and company size shows positive effects on profit growth. These variables collectively exert significant simultaneous influences on profit growth, explaining 19% variance, with the remaining 81% attributed to unexamined factors.

Leverage, Profitability, and Company Size Effects on Profit Growth in Transportation Companies

Bremanta Ginting — 2025-08-05

This research examines how leverage, profitability, and company size influence profit growth within transportation sector companies. Utilizing purposive sampling methodology, 11 companies from 46 transportation entities were selected from 2019-2023. Data sourced from www.idx.co.id underwent analysis through SPSS version 26. Empirical findings reveal leverage exhibits no significant effect on profit growth. Profitability demonstrates no significant influence on profit growth. Company size shows a positive and significant impact on profit growth. Collectively, these variables exhibit no simultaneous effect on profit growth. The adjusted R-squared value of 10.1% indicates limited explanatory power, with 89.9% influenced by unexplored factors.

Profitability, Debt Policy, and Firm Value: Dividend Policy as Mediating Variable in Consumer Non-Cyclicals Sector

Rodeksi Sonyetha Tondang — 2025-08-05

This research investigates dividend policy's mediating role in the relationship between profitability and firm value within Indonesia's consumer non-cyclicals sector. Utilizing panel data from 21 companies listed on the Indonesia Stock Exchange between 2019-2023, the study employs WarpPLS version 8.0 for Structural Equation Modeling analysis. The results show that profitability greatly increases the value of a company, that debt policy has a positive effect on the value of a company, and that dividend policy is a good way to connect profitability and company value. The results demonstrate the strategic relevance of dividend distribution decisions in translating operational performance into shareholder value creation, particularly within stable-demand consumer goods companies.

Literature Review: Links Between Green Finance (Bonds, Loans, Investment) and Corporate ESG

Adi Hasan Ragil Saputra — 2025-08-05

In the context of globalization, green finance is a mechanism for supporting the transition to a sustainable economy by directing financial resources toward environmentally responsible enterprises. Using various green finance instruments, individuals and organizations can participate in sustainability efforts. Environmental, social, and governance (ESG) disclosure serves as a framework for improving business sustainability and enhancing awareness related to environmental, social, and governance practices. This study examines the relationship between categories of green finance, such as green bonds, green loans, green investments, and ESG implementation within companies. The SPIDER methodology (Sample, Phenomenon of Interest, Design, Evaluation, and Research type) was applied, utilizing literature searches in Scopus, ProQuest, and Plos One, resulting in 19,340 articles. Following classification and relevance assessment, 15 articles were included in the review, consisting of studies published from 2022 to 2024. Among these fifteen articles, several identify a notable association between green finance and ESG across different organizations. Green bonds are associated with positive effects on ESG performance. Green loans have been observed to encourage the development of environmentally focused financial products. Green investment is described as realized through research and development activities, which contribute to innovations in environmentally friendly products and promote transparency in corporate ESG practices.

Free Cash Flow and Dividend Policy Effects on Debt Policy in Mining Companies

Agnes Patricia R. Sinaga — 2025-08-05

This research examines free cash flow and dividend policy influences on debt policy among oil, gas, and coal mining companies listed on the Indonesia Stock Exchange. Utilizing quantitative methodology, data were collected from 21 companies spanning 2021-2023 through purposive sampling, yielding 63 observations. Multiple linear regression analysis reveals free cash flow exerts positive insignificant effects, while dividend policy demonstrates negative significant impacts on debt policy. Simultaneous testing confirms these variables collectively affect debt policy significantly. The adjusted R-squared value of 0.122 indicates a 12.2% debt policy variance explanation by the studied variables, with the remaining 87.8% attributed to unexamined factors. Findings emphasize dividend distribution management and cash flow optimization as critical debt structure strategies within resource extraction industries.

Liquidity, Financial Leverage, and Asset Growth Effects on Banking Profitability

Tio Sari Febrina Silaban — 2025-08-05

This study examines the influence of liquidity, financial leverage, and asset growth on profitability among banking companies listed on the Indonesia Stock Exchange (2019–2023). Employing saturated sampling, 46 banking companies were analyzed through secondary data from financial statements. Liquidity was measured by Current Ratio (CR), financial leverage by Debt to Asset Ratio (DAR), asset growth by percentage change in total assets (AG), and profitability by Return on Assets (ROA). Multiple linear regression results indicate that liquidity and financial leverage demonstrate negative but insignificant effects on profitability, whereas asset growth exhibits positive and significant influence. Simultaneously, all three variables collectively affect profitability significantly. The adjusted R-squared value of 0.185 indicates these variables explain 18.5% of profitability variation, with the remaining 81.5% attributable to other unexplored factors.

The Effect Capital Structure, Profit Growth, Audit Quality, Size on Quality Corporate Profits Various Industries

Febri Yoswan Sianturi — 2025-08-05

This study aims to analyze the influence of capital structure, profit growth, audit quality, and size on the quality of industrial companies' profits. 18 samples from 25 company populations. The method used was the purposive sampling method. Research data was obtained from the www.idx.co.id website. Then data was processed using the SPSS application version 26. Results of the capital structure research partially have a positive and significant effect on quality profit. Profit growth partially has a positive, significant effect on profit quality. Audit quality partially has a positive, insignificant effect on profit quality. Size partially has a positive, significant effect on quality of profits. Capital Structure, Profit Growth, Audit Quality, and Size simultaneously have a significant effect on Profit Quality. The adjusted R-squared value is 0.339, or 33.9%, which means that research variable is able to explain the Quality of Profit as determined by Capital Structure, Profit Growth, audit quality, and size by 33.9%, while remaining 66.1% is influenced by other factors outside of this study

Profitability Mediating Role in Profit Growth Effects on Firm Value

Pati Gusman Batara Purba — 2025-08-05

This research examines the mediating role of profitability in profit growth effects on firm value among Indonesian industrial companies. Employing quantitative methodology with structural equation modeling and partial least squares analysis, data was collected from 31 industrial companies spanning 2021–2023 through purposive sampling, yielding 93 observations. Results reveal that profit growth and capital structure have positive and significant direct effects on firm value, while dividend policy shows insignificant influence. Profit growth significantly affects profitability, which subsequently impacts firm value substantially. Mediation analysis shows that profitability completely explains how profit growth affects firm value, detailing how this happens through improved operational efficiency. The model explains 15.0% of firm value variance, confirming profit generation capabilities and capital structure decisions constitute critical value determinants. Findings emphasize integrated profitability enhancement and strategic financial management approaches supporting sustainable value creation.

Strategic Management Accounting in Improving Company Performance

Amy Badriyah Siregar — 2025-08-05

This study aims to explore the contribution of Strategic Management Accounting (SMA) to enhancing corporate performance in today’s competitive and dynamic business environment. A qualitative approach was adopted, utilizing a literature review method that focused on scholarly works discussing SMA practices and their influence on organizational performance. Data were collected based on inclusion criteria, comprising relevant national and international journal articles and academic books published within the last five years. The data were analyzed using content analysis, synthesizing previous findings to derive both theoretical insights and practical implications. The findings indicate that the application of various SMA techniques—such as Activity-Based Costing, Balanced Scorecard, Customer Profitability Analysis, Competitor Cost Analysis, and Value Chain Analysis—significantly improves decision-making effectiveness, operational efficiency, and competitive advantage. Furthermore, the integration of digital technology and interdepartmental collaboration strengthens the strategic role of SMA within organizations. These results affirm that SMA plays a crucial role in supporting corporate success and long-term performance sustainability.

Credit Risk, Operational Risk, and Third-Party Funds Effects on Profitability in Book IV Banks

Tesalonika Br. Purba — 2025-08-05

This research examines credit risk, operational risk, and third-party fund influences on profitability levels in Book IV banks. Utilizing purposive sampling, 9 banks from the 10 Book IV banks population were analyzed over a five-year observation period. Credit risk, operational risk, and third-party funds are independent variables, and profitability is the dependent variable. Findings reveal credit risk has a significant positive impact on profitability. Operational risk has a negative significant effect on profitability, while third-party funds have a positive significant effect on profitability. These three variables simultaneously contribute significantly toward profitability. The determination coefficient (R²) value reaches 0.907, or 90.7%, indicating credit risk, operational risk, and third-party funds explain the profitability variable (ROA) by 90.7%, while the remaining 9.3% receives influence from unexplored factors.

Profitability, Growth Opportunities, and Institutional Ownership Effects on Firm Value with Firm Size as Mediating Variable

Putri Monalisa Sihotang — 2025-08-05

This research examines profitability, growth opportunities, and institutional ownership influences on firm value, with firm size serving as a mediating variable in consumer non-cyclical companies listed on the Indonesia Stock Exchange. Employing quantitative methodology with structural equation modeling and partial least squares analysis, data was collected from 69 companies spanning 2020–2023 through purposive sampling. Results reveal profitability, growth opportunities, and institutional ownership have significant positive impacts on firm value. Firm size significantly affects firm value while partially mediating profitability-firm value relationships. The model explains 47.1% of firm value variance, confirming internal financial performance indicators, ownership structures, and organizational scale collectively constitute critical value creation determinants. The findings highlight that using combined methods to improve profits, pursue strategic growth, engage with institutional investors, and optimize size are key strategies for increasing shareholder value in the consumer goods industry.

The Traditional Leadership Model of Nias as a Pillar of Local Wisdom in Strengthening Cultural Identity and Character Education

Eliyunus Waruwu — 2025-08-05

This article explores the traditional leadership model of the Nias people in North Sumatra as a vital source of local wisdom for strengthening cultural identity and character education. Rooted in ancestral customs, the Nias leadership structure, centered on the role of Si’ulu (hereditary chiefs) and supported by Si’ila (a council of elders), is deeply integrated into the community's cultural, moral, and social fabric, through ethnographic analysis and a literature review. This research argues that the principles and practices of Nias leadership offer valuable frameworks for character education, particularly in the context of Indonesia's national efforts to strengthen civic and moral values in schools. The study concludes that integrating traditional leadership values into educational and community-based programs can revitalize indigenous heritage, foster intercultural understanding, and build character rooted in local wisdom. As such, the Nias leadership model remains highly relevant to contemporary cultural preservation and educational innovation.

Understanding Online Purchasing Behavior: The Role of Price, Promotion, and Product Reviews on The Shopee Platform

Rica Ariani Br. Sinaga — 2025-08-05

This study examines how price, promotion, and product reviews influence purchasing decisions among Management Study Program students at Methodist University of Indonesia who use the Shopee platform. Using a quantitative approach, data were gathered through questionnaires distributed to 89 participants. Multiple linear regression analysis was employed to analyze the data. Results indicate that price and product reviews have positive and significant effects on purchasing decisions, while promotions show no significant impact. The combined effect of all three variables produces meaningful results with an R² coefficient of 0.607, suggesting that 60.7% of purchase decision variance can be explained by the model. These findings offer valuable insights for developing e-commerce strategies, particularly regarding pricing strategies and product review management to enhance consumer purchasing decisions.

Building Excellence Through Collaborative Leadership, Teamwork, and Supervision of Employee Performance at DPRD Pematangsiantar

Shopy Hutagaol — 2025-08-05

This investigation examines how collaborative leadership, teamwork, and work supervision influence employee performance at the Pematangsiantar City DPRD Office. Utilizing a quantitative methodology, data were collected through questionnaires distributed to 32 employees. Multiple linear regression analysis was employed for data examination. Results demonstrate that collaborative leadership, teamwork, and work supervision each exhibit positive and significant effects on employee performance individually. The F-test confirms that all three variables collectively produce significant impacts. The adjusted R-square value of 0.652 indicates that 65.2% of employee performance variations can be explained by these three variables, while the remaining 34.8% is influenced by other factors beyond the research model. These findings highlight that collaborative approaches, team synergy, and effective work supervision are crucial elements in enhancing employee performance within public sector organizations.

How Teamwork, Competency and Work Environment on Employee Performance at BPJS Ketenagakerjaan in Medan, Indonesia

Anna Belinda Sirait — 2025-08-05

This research seeks to examine and evaluate how teamwork, competency, and work environment influence the performance of employees at BPJS Employment Medan Kota. The study employs a quantitative descriptive methodology with a sample comprising 33 employees. The t-test hypothesis results demonstrate that teamwork exhibits a positive and significant impact on employee performance, competency shows a positive and significant influence on employee performance, and the work environment demonstrates a significantly positive effect on employee performance. The F-test hypothesis results indicate that teamwork, competency, and work environment collectively exert a significant influence on employee performance. The coefficient of determination analysis reveals an Adjusted R-Square value of 0.845 or 84.5%, indicating that workload, compensation, job career, and leadership style account for this percentage of variance in employee performance, while 15.5% represents the contribution of other variables not examined in this research.

Work Experience, Facilities, and Skills Influence on Employee Performance

Maria Artha Roma Siregar — 2025-08-05

This study examines the influence of work experience, work facilities, and skills on employee performance at BPJS Ketenagakerjaan Medan City Branch. Using quantitative methodology with 100 respondents and multiple linear regression analysis, findings demonstrate significant positive effects: work experience (t = 6.149, p < 0.05), work facilities (t = 2.280, p = 0.025), and skills (t = 3.215, p = 0.002) all significantly impact employee performance. The F-test confirms collective significance (F = 100.280, p < 0.001), with adjusted R² = 0.751 explaining 75.1% of performance variance. Results emphasize comprehensive human resource development strategies combining experiential learning, infrastructure investment, and competency enhancement for optimal performance outcomes in public sector organizations.

Employee Welfare, Work Environment, and Interpersonal Relations Impact on Productivity

Nurlena Lumbantoruan — 2025-08-05

This research examines how employee welfare, work environment, and interpersonal relations influence work productivity at BPJS Ketenagakerjaan Toba Samosir Balige Branch. Using quantitative methodology with 99 respondents and multiple linear regression analysis, findings reveal significant positive effects: employee welfare (t = 5.158, p < 0.05), work environment (t = 3.973, p < 0.05), and interpersonal relations (t = 3.010, p < 0.05) all significantly impact productivity. The F-test demonstrates collective significance (F = 97.660, p < 0.001), with adjusted R² = 0.747 explaining 74.7% of productivity variance. Results emphasize integrated human resource management strategies for enhancing organizational productivity in Indonesian public sector institutions.

Employee Competence and Work Environment Influence on Employee Performance

Aprilia Sindi Natha Br Sitepu — 2025-08-05

This study examines the influence of employee competence and work environment on employee performance at the Legal Bureau of the North Sumatra Governor's Office. Using quantitative methodology with saturated sampling and multiple linear regression analysis, findings reveal contrasting effects: employee competence shows no significant impact (t = 0.590, p = 0.559), while work environment demonstrates significant positive influence (t = 7.511, p < 0.001). The F-test confirms collective significance (F = 69.444, p < 0.001), with adjusted R² = 0.787, explaining 78.7% of performance variance. Results emphasize environmental factors over individual competencies in determining performance outcomes within public sector legal institutions, suggesting organizational context significantly moderates competence-performance relationships.

Live Shopping and Product Quality Impact on Originote Purchase Decisions: Management Students Study

Trinita Ompusunggu — 2025-08-05

This study investigates the influence of live shopping and product quality on purchasing decisions for Originote products among Management Study Program students at Methodist University of Indonesia. Employing a quantitative approach through survey methodology, data was collected from 50 student respondents. Results demonstrate that both live shopping and product quality exhibit positive and significant impacts on purchasing decisions, analyzed individually and simultaneously, achieving an adjusted R² of 0.635. This indicates that 63.5% of consumer purchasing decisions are explained by these factors. The findings emphasize the significance of interactive digital marketing strategies and consistent product standards in influencing consumer behavior. This research contributes valuable insights for marketing strategy formulation by highlighting the crucial role of live shopping and product quality in purchase decision-making.

Training, Orientation, and Career Development Effects on Employee Performance

Favian Kalyana — 2025-08-05

This research investigates how training programs, work orientation, and career development influence employee performance at BPJS Kesehatan Medan Branch. Employing a quantitative descriptive methodology, data were collected from 52 employees through structured questionnaires. Multiple linear regression analysis reveals that training (t=4.983, p<0.05) and career development (t=2.841, p<0.05) significantly enhance employee performance, while work orientation (t=1.535, p>0.05) demonstrates no significant impact. The simultaneous F-test (F=62.043, p<0.05) confirms that all three variables collectively influence performance significantly. The model explains 78.2% of performance variation (adjusted R²=0.782), with the remaining variance attributed to unexamined factors. Findings suggest prioritizing practical training initiatives and transparent career advancement mechanisms while restructuring orientation programs to emphasize operational competencies and organizational culture integration for enhanced performance outcomes.

Work Discipline, Environment, and Training Effects 0n Bank Employee Performance

Indah Cryst Sinaga — 2025-08-05

This research investigates work discipline, work environment, and training influences on employee performance at PT Bank Sumut Pangururan Branch. Employing descriptive quantitative methodology with saturated sampling techniques, all thirty-five employees participated in this study during 2024-2025. Data collection utilized structured questionnaires measured through five-point Likert scales, with multiple linear regression analysis conducted using SPSS version 26. Findings demonstrate that work discipline, work environment, and training collectively explain 89.5% of performance variance. Individually, all three variables significantly affect employee performance, with work environment exhibiting the strongest influence. These results provide critical insights for banking sector human resource management strategies, emphasizing integrated approaches combining disciplinary frameworks, supportive workplace conditions, and continuous skill development programs.

Organizational Culture, Work Relationships, and Leadership Influence on Employee Performance: Work Environment as Moderator

Cici Abigael Pandiangan — 2025-08-05

This research investigates organizational culture, work relationships, and leadership style effects on employee performance within Dairi Regency's Regional Secretariat Office, examining work environment moderation. Utilizing quantitative methodology through purposive sampling, 60 employees from 151 total staff participated. Structural equation modeling via SmartPLS analyzed relationships among variables. Findings reveal organizational culture, work relationships, and leadership style significantly enhance employee performance positively. Work environment moderates organizational culture, and leadership style influences but fails to moderate work relationships' impact on performance outcomes. These contributions advance employee behavioral understanding and provide human resource management strategic implications for public sector organizations.

Workload, Compensation, Career Development, and Leadership Effects on Employee Performance at BPJS Employment

Cecilia Herlina S. — 2025-08-05

This research examines workload, compensation, career development, and leadership style influences on employee performance at BPJS Employment Medan Kota. Employing quantitative descriptive methodology, data were collected from 51 employees using census sampling. Multiple linear regression analysis reveals workload exerts negative insignificant effects, while compensation, career development, and leadership style demonstrate positive significant impacts on performance. Simultaneous testing confirms these four variables collectively affect employee performance significantly. The adjusted R-square value of 0.674 indicates 67.4% performance variance explanation by studied variables, with remaining 32.6% attributed to unexamined factors. Findings emphasize equitable compensation systems, career advancement opportunities, and effective leadership practices as critical performance enhancement strategies within social security organizations.

Placement, Self-Efficacy, and Job Satisfaction Effects on Employee Performance

Dina Emil Indriana Telaumbanua — 2025-08-05

Employee placement optimization, self-efficacy enhancement, and job satisfaction improvement constitute critical determinants influencing performance effectiveness within public sector organizations. This research examines placement practices, self-efficacy beliefs, and job satisfaction impacts on employee performance at the North Sumatera Provincial Inspectorate Office. Employing quantitative methodology with a saturated sampling approach, 61 functional auditors participated as research subjects. Data analysis utilizes the multiple linear regression technique. Empirical findings reveal placement, self-efficacy, and job satisfaction exert positive and significant influences on employee performance both partially and simultaneously, explaining 56.1% performance variance with the remaining 43.9% attributed to unexamined organizational factors.

Corporate Image, Product Quality, and Price Effects on Herbal Product Purchase Decisions

Mikha Elisabeth Jesvia Pasaribu — 2025-08-05

Consumer decision-making processes regarding herbal product purchases constitute critical determinants influencing business sustainability within the health product industry. This research examines corporate image, product quality, and price impacts on consumer purchase decisions at PT. Melia Sehat Sejahtera Medan. Employing quantitative methodology with a purposive sampling technique, 62 consumers participated as research respondents. Data analysis utilizes multiple linear regression techniques, including validity, reliability, and classical assumption tests. Empirical findings reveal product quality and price exert positive and significant influences on purchase decisions, while corporate image demonstrates a positive but insignificant effect. Simultaneously, all variables significantly influence purchase decisions, explaining 41.7% variance, with the remaining 58.3% attributed to unexamined factors.

Work-Life Balance, Stress, and Environment Impact on Job Satisfaction at BPJS Employment Medan

Fedora Elisabeth — 2025-08-05

This research examines how work-life balance, occupational stress, and workplace conditions influence employee satisfaction at BPJS Ketenagakerjaan Medan Branch. Using quantitative methodology, data from 33 employees were analyzed. T-test results reveal that all three variables significantly affect satisfaction levels. Work-life balance showed t-calculated 2.175 > t-table 2.048 (p=0.038), occupational stress yielded t-calculated 2.177 > t-table 2.048 (p=0.038), and workplace conditions produced t-calculated 2.219 > t-table 2.048 (p=0.034). The F-test confirms simultaneous significance. The adjusted R² of 0.523 indicates these factors explain 52.3% of satisfaction variance.

Individual Traits, Organizational Climate, and Career Advancement Effects on BPJS Employment Performance

Putri Sion Butar-Butar — 2025-08-05

This investigation analyzes how individual traits, organizational climate, and career advancement influence workforce performance at BPJS Employment Medan. Utilizing quantitative methodology with 33 participants, t-test analysis indicates individual traits (t=5.668>2.045; p=0.000) and career advancement (t=4.121>2.045; p=0.000) significantly enhance performance. Organizational climate showed no significant impact (t=0.023<2.045; p=0.982). F-test results (F=41.003>2.93; p=0.000) confirm simultaneous significance. The model explains 79% performance variance (Adjusted R²=0.790).

Quality of Work Life, Career Development, and Interpersonal Communication Effects on Employee Performance

Aurel Glory Estefania Purba — 2025-08-05

Employee performance optimization within public sector organizations constitutes a critical determinant influencing institutional effectiveness and service delivery quality. This research examines the quality of work life, career development, and interpersonal communication impacts on employee performance at the North Sumatra Provincial Inspectorate Office. Employing quantitative methodology with the saturated sampling technique involving 61 functional auditors, data analysis utilizes multiple linear regression. Empirical findings reveal quality of work life, career development, and interpersonal communication exert positive and significant influences on employee performance both partially and simultaneously, explaining 81.1% performance variance with the remaining 18.9% attributed to unexamined organizational factors. These findings underscore human resource management strategies prioritizing improvements in work environment quality, facilitation of professional development, and cultivation of effective communication.

Work-Life Balance, Workload, and Compensation Effects on Employee Performance

Sevvy Ginting — 2025-08-05

Employee performance optimization represents a critical organizational success factor requiring a comprehensive understanding of influencing variables. This research examines work-life balance, workload, and compensation impacts on employee performance at PT Rantai Laut Medan. Employing quantitative methodology with the census sampling technique, 32 employees participated as research subjects. Data analysis includes multiple linear regression with classical assumption tests. Empirical findings reveal work-life balance and compensation exert positive and significant influences on employee performance, while workload demonstrates no significant effect. Simultaneously, all variables significantly affect performance, explaining 62.5% variance, with the remaining 37.5% influenced by unexamined factors.

Digital Marketing, Brand Image, Price Effects on Tiktok Skintific Buying Interest Among Students

Chelsea Stellina — 2025-08-05

This study attempts to investigate how pricing, brand image, and digital marketing impact students from the class of 2022 at Mikroskil University's interest in purchasing Skintific products through the TikTok Shop. TikTok has become one of the most beneficial digital marketing platforms for brands, especially those in the Skintific business. Brand image and pricing are crucial to generating consumer trust and interest in these products. Saturation sampling is the sampling technique, and a questionnaire is used to collect data. The SmartPLS 3.2.9 application is used for data analysis. The results indicate that digital marketing has a positive and significant impact on purchasing interest. On the contrary, the study indicates that pricing and brand image have negative impacts and have no bearing on consumers' desire to buy. We can conclude that only digital marketing positively and significantly impacts buying interest in this context.

Digital Transformation of MSMEs: Inclusion, Readiness, and Innovation Toward a Sustainable Economic Ecosystem

Sunday Ade Sitorus — 2025-08-05

This study evaluates the interrelationship between digital readiness, digital inclusion, and digital transformation on business model innovation and the sustainability of local economies among culinary Micro, Small, and Medium Enterprises (MSMEs) in Medan, Indonesia. Employing a quantitative approach grounded in the TOE Framework and the Digital Ecosystem Innovation Model (DEIM), data were gathered from 250 respondents via closed-ended questionnaires and analyzed using Structural Equation Modeling with Partial Least Squares (SEM-PLS). The findings indicate that both digital readiness and digital inclusion significantly influence business model innovation. Moreover, the digital business ecosystem serves as a mediating variable that links digital transformation with sustainable economic outcomes. The practical implications of this research emphasize the importance of community-based digital empowerment strategies and inclusive policy interventions to foster equitable technological adoption.

Smart Strategy in the Digital Era: The Influence of Marketing Content Quality and Social Media Interaction on Generation Z Customer Loyalty to The Beauty Brand Ms. Glow

Putri Mauliza — 2025-08-05

The development of digital technology and the increasing use of social media have driven significant changes in marketing strategies, especially for the beauty industry. This study aims to analyze the effect of marketing content quality and social media interactions on Generation Z customer loyalty to the Ms. Glow beauty brand in Medan City. Generation Z was chosen as the focus of the study because they are the most active and responsive group to digital communication and have increasing purchasing power. The research method used is a quantitative approach with a survey technique by distributing questionnaires to 150 respondents who meet the criteria, namely active social media users and have used Ms. Glow products. Data were analyzed using multiple linear regression to test the simultaneous and partial effects between independent and dependent variables. The results showed that both marketing content quality and social media interactions have a positive and significant effect on customer loyalty. The quality of content that is informative, visually appealing, and consistent with the brand image has been shown to increase positive customer perceptions. Meanwhile, active and responsive social media interactions also contribute greatly to building emotional closeness and customer engagement with the brand. Simultaneously, both variables explain more than 60% of the variation in customer loyalty. These findings indicate that digital strategies based on quality content and authentic interactions are essential in maintaining the loyalty of young consumers. Therefore, beauty brands like Ms. Glow need to continue to strengthen their presence on social media with a relevant and communicative approach to stay competitive in the digital market.

Moderating Role of Tourist Site Development in the Relationship Between Hotel Occupancy and Tourism Revenue: Evidence from Samosir Regency, Indonesia

Junika Napitupulu — 2025-08-05

Tourism has become one of the main economic pillars for regional development in Indonesia, particularly in areas with natural destinations like Samosir Regency. However, post-pandemic recovery challenges and underdeveloped attractions continue to hinder tourism income optimization. This study examines how hotel occupancy and tourist arrivals affect tourism sector revenue, with the number of tourist attractions acting as a moderating variable. This quantitative research employed a descriptive approach using Partial Least Squares Structural Equation Modeling (PLS-SEM). The study employed purposive sampling from a population of 305,203 tourists in 2025, resulting in 250 valid responses. The constructs measured included hotel occupancy rates, the number of tourist visits, the number of tourist sites, and tourism revenue. Validity and reliability were confirmed through convergent validity, composite reliability, and path coefficient analysis. The results indicate that hotel occupancy and tourist arrivals have a significant impact on tourism revenue (p < 0.05). Furthermore, the number of tourist sites significantly moderates the effect of these variables on revenue generation. The model can explain over 85% of the variance in tourism revenue, according to R-square values. The increase in available and attractive tourist sites strengthens the relationship between the independent and dependent variables. These results highlight the strategic importance of developing and diversifying tourist sites in increasing regional tourism income. We encourage stakeholders, including government and private sector investors, to enhance tourism infrastructure and hospitality services to boost destination competitiveness and economic returns.

Pricing, Testimonials, and Service Quality Effects on Public Transport Customer Satisfaction

Alisya Agitha Br. Surbakti — 2025-08-05

This study examines the influence of pricing, customer testimonials, and service quality on customer satisfaction among Almasar Bus users in Medan. Employing a quantitative approach with 100 respondents selected through accidental sampling, data were analyzed using multiple linear regression, t-tests, F-tests, and coefficients of determination. Partial test results indicate that pricing and customer testimonials demonstrate no significant effect on customer satisfaction, whereas service quality exhibits significant positive influence. Simultaneously, all three variables collectively affect customer satisfaction significantly. The adjusted R-squared value of 0.144 indicates that these variables explain 14.4% of customer satisfaction variation, with the remaining 85.6% attributable to other unexplored factors. Findings emphasize the critical importance of service quality enhancement in elevating customer satisfaction levels within public transportation contexts.

Competence, Internal Communication, and Organizational Culture Effects on Employee Performance at KSP CU. Budi Murni

Agnesia Sinaga — 2025-08-05

This research examines competence, internal communication, and organizational culture impacts on employee performance at Savings and Loan Cooperative CU. Budi Murni Aek Kanopan, North Labuhanbatu Regency. Employing quantitative methodology with 39 employee respondents, the study investigates performance determinants through questionnaire-based primary data collection. Multiple linear regression analysis indicates substantial positive correlations between competence and performance (t-value: 3.270, significance: 0.002). The determination coefficient (R²=0.451) demonstrates that independent variables explain 45.1% of performance variance, with competence emerging as the dominant predictor. The results show that improving employee skills, communication systems, and cultural fit helps organizations work better, which supports long-term teamwork in farming communities.

Integrated Islamic Spiritual Care as a Business Strategy in Siaga Al Munawwarah Hospital

Muhammad Sadik Sahil — 2025-08-05

This study found that Siaga Al-Munawwarah Hospital has implemented Integrated Islamic Spiritual Care (IISC) as part of its patient services. ISC is not only considered a complement to medical services but also as a strategic tool in building an image, increasing patient loyalty, and differentiating the hospital from competitors. But ISC hasn't been fully added to the hospital's official business management system yet. Evaluation of its impact on strategic indicators is still limited, and organizational support for the sustainability of the spiritual care program needs to be strengthened.

How Brand Image, Brand Loyalty, Promotion, and Product Quality on the Buying Decision of Apple Smartphones Among Management and Accounting Students Methodist University of Indonesia (Batch 2021-2022)

Stela Chintia Laura — 2025-08-05

This study aims to examine the influence of brand image, brand loyalty, promotion, and product quality on the buying decisions of Apple smartphones among students of the Management and Accounting programs, class of 2021–2022, at Universitas Methodist Indonesia. The research method used is descriptive quantitative with a total of 90 respondents. The t-test results indicate that brand image, brand loyalty, promotion, and product quality each have a significant partial effect on buying decisions. The F-test results show that all four variables simultaneously have a significant effect on buying decisions. The adjusted R-squared value is 0.695, indicating that 69.5% of the variation in buying decisions is influenced by the four variables, while the remaining 31.5% is explained by other factors not included in this study.

Logistics Quality and Pricing Effects on Satisfaction and Courier Performance

Agastya Pramadya — 2025-08-05

PT Satria Antaran Prima Tbk (SAPX) faced a 6.59% reduction in gross operating profit during 2024, notwithstanding a 9.7% revenue increment versus the prior year. This contradiction suggests revenue expansion occurred without corresponding operational effectiveness. This investigation evaluates how logistics service excellence and pricing structures influence customer contentment and subsequently affect organizational outcomes. A quantitative framework utilizing descriptive and verificative approaches was employed, gathering information from 390 active clients within Jakarta and applying Structural Equation Modeling (SEM) for analysis. Findings demonstrate that service excellence and pricing both exert positive, statistically meaningful effects on customer contentment. Subsequently, customer contentment positively impacts organizational outcomes. Additionally, indirect influences of service excellence and pricing on organizational outcomes via customer contentment prove statistically meaningful. Results emphasize optimizing service standards and executing efficient pricing mechanisms to strengthen market competitiveness.

Bridging The Skills Gap: Examining the Effect of Soft and Digital Competencies on Job Readiness of Management Students

Lira Sofitania Situmorang — 2025-08-05

This study addresses the high rate of educated unemployment in Indonesia and the mismatch between university graduates' skills and industry demands, which hinders students' readiness to enter the workforce. The research investigates the influence of leadership skills, communication skills, adaptability skills, and digital skills on students’ job readiness. A quantitative associative method was used, involving 179 participants from the 2021 group of the Management Study Program at the Faculty of Economics, Universitas Methodist Indonesia, who were chosen through purposive sampling. Data were analyzed using multiple linear regression with SPSS version 26. The results show that leadership, communication, and adaptability skills have a positive and significant impact on job readiness, while digital skills have a positive but not significant effect. Simultaneously, all four skills significantly influence job readiness. These findings suggest that improving these competencies can enhance students’ preparedness for the workforce.

The Influence of Technology Readiness and Perceived Ease of Use on the Decision to Use QRIS as a Digital Payment through Perceived Utility

Rizky Khotijatul Mahgfiroh — 2025-08-05

This study aims to test and analyze how technology readiness and perceived ease of use influence the decision to use QRIS as a digital payment through the perception of usefulness and benefits. The population in this study the people of are QRIS users for digital payments. The sampling technique in this study used a nonprobability sampling technique, namely the purposive sampling method with a sample size of 138 respondents via Google Form. This study is quantitative using Structural Equation Modeling (SEM) which is a technique used to analyze data with the help of AMOS software. The results showed that technological readiness had a significant positive effect on the decision to use, perceived ease of use had a positive but insignificant effect and there were two hypotheses mediated by perceived usefulness with significant positive results.

Community-Based Ecotourism and the Green Economy: A Synergistic Approach to Sustainable Development

Anton A. P. Sinaga — 2025-08-05

The urgency for sustainable tourism development has intensified due to increasing ecological degradation and social inequality driven by conventional tourism models. This study aims to explore the synergistic integration between Community-Based Ecotourism (CBE) and the Green Economy (GE) approach as a strategic pathway toward holistic sustainable development. Employing an exploratory qualitative approach, this research was conducted in two distinct locations: Sumberbendo Ecotourism Village (Indonesia) and Binh Son Coastal Ecotourism Area (Vietnam). Findings reveal that the integration of CBE and GE generates significant benefits across four key dimensions: social, economic, environmental, and institutional. Socially, there was a marked increase in community participation, including the empowerment of vulnerable groups such as women and youth. Economically, local income diversification and the rise of small-scale green entrepreneurship were evident. Environmentally, both sites demonstrated successful ecosystem rehabilitation, waste reduction, and adoption of green technologies. Institutionally, a collaborative governance model was established involving communities, local governments, and private stakeholders.However, several challenges persist, such as limited access to green technology, dependency on external funding during early implementation, and benefit distribution conflicts. Nevertheless, community adaptive capacity and the presence of enabling policies played a pivotal role in overcoming these constraints.This study proposes an integrative conceptual framework grounded in participatory action, ecological efficiency, and inclusive governance as a strategic reference for replicating sustainable ecotourism models in other Global South regions. The findings offer both theoretical contributions to sustainable tourism literature and practical implications for policymakers and development practitioners seeking community-centered green transformation.

The Influence of Digital Capability-Based Work Culture as A Mediator of Transformational Leadership, Teamwork, and Achievement Motivation in Improving Lecturer Performance

Mislan Sihite — 2025-08-05

This study examines the impact of transformational leadership, teamwork, and achievement motivation on lecturer performance, with digital capability-based work culture as a mediating variable. Using Structural Equation Modeling (SEM) with SmartPLS, data were gathered from lecturers to examine the interrelationships among the constructs. The results indicate that transformational leadership, teamwork, and achievement motivation significantly influence digital capability-based work culture. Additionally, digital capability-based work culture positively affects lecturer performance and partially mediates the effects of transformational leadership and teamwork, while fully mediating the effect of achievement motivation. The results show how important it is to create a digital-oriented work environment to improve lecturer performance. Practical implications suggest that institutions should invest in digital infrastructure and training programs to strengthen lecturers' digital capabilities, thus improving their teaching effectiveness and research productivity. The study contributes to the literature by integrating digital capability-based work culture into the leadership and performance framework, offering a comprehensive understanding of its role in higher education institutions.

Product Knowledge and Word-of-Mouth Effects on VIVO Smartphone Purchase Intention Among Management Students

Elsa Parapat — 2025-08-05

This research examines product knowledge and word-of-mouth marketing impacts on purchase intention for VIVO smartphones among Universitas Methodist Indonesia management students. Employing quantitative methodology with 90 student respondents selected through purposive sampling, the study investigates purchasing determinants through questionnaire-based primary data collection. Multiple linear regression analysis reveals significant positive relationships between product knowledge and purchase intention (t-value: 5.959, significance: 0.000), while word-of-mouth demonstrates statistically insignificant effects. The determination coefficient (R²=0.882) indicates that independent variables explain 87.9% of purchase intention variance, with product knowledge emerging as the dominant predictor. Findings confirm that consumer understanding of product features, specifications, and benefits substantially influences buying decisions in competitive smartphone markets.

Brand Trust and Product Quality Effects on Shopee Mall Purchase Decisions in Medan

Gustina Anggraini — 2025-08-05

This investigation examines brand trust and product quality influences on purchasing decisions for Shopee Mall products among Medan City consumers. Employing quantitative methodology with 100 respondents selected through purposive sampling, the study utilizes multiple linear regression analysis. Empirical findings demonstrate brand trust (β=0.433, t=4.213, p=0.000) and product quality (β=0.391, t=4.702, p=0.000) exert significant positive effects on purchase decisions. The determination coefficient (R²=0.899) indicates examined variables explain 89.9% of purchasing decision variance. Results validate that consumer confidence and product excellence constitute critical drivers for e-commerce platform success within emerging market contexts.

Acculturative Product Excellence and Business Sustainability in Samarinda Sarong Weaving Industry

Dian Irma Aprianti — 2025-08-05

This study analyzes acculturative isolation product excellence as a mediator between value creation, product innovation, and business sustainability in Samarinda's sarong weaving industry. Using resource-based view theory, data were collected from 102 MSMEs and weaving artisans through questionnaires and analyzed using SEM-PLS. Results showed acculturative isolation product excellence significantly affects business sustainability directly (β=0.528; p<0.001) and through isolation mechanisms as a partial mediator (indirect effect=0.102; p=0.070). Product innovation only shows indirect effects through isolation mechanisms (indirect effect=0.106; p=0.063). These findings emphasize culture-based isolation strategies in creating sustainable competitive advantage. Practical implications suggest strengthening intellectual property protection, integrating innovation with traditional values, and improving market education for sustainable traditional craft industry business models.

Remittances and Economic Growth Nexus: The Moderating Role of Economic Uncertainty and Complexity in Emerging Markets

Naila Erum — 2025-08-05

The relationship between remittances and economic growth has produced mixed empirical evidence, yet few studies have explored how macroeconomic conditions shape this relationship. This paper fills this gap by investigating the moderating effects of economic uncertainty and complexity on the remittance-growth nexus across 26 emerging economies during 1996-2023. Applying the CS-ARDL methodology to control for cross-sectional dependence, the study finds that the direct effect of remittances on growth is negative. Nevertheless, the interaction terms reveal that remittances positively contribute to growth under conditions of heightened uncertainty and in economies characterized by greater productive sophistication. These novel findings reconcile conflicting evidence in the literature by demonstrating that remittance effects are context-dependent. The results underscore the need for policies that strengthen economic complexity and leverage remittances as a stabilization tool during uncertain times.

Institutional Quality as a Buffer Against Economic Instability: Examining the Determinants of National Well-Being Across Development Contexts

Kazi Musa — 2025-08-05

What factors determine why citizens in some nations report greater life satisfaction than others? This investigation probes the intricate nexus between macroeconomic turbulence, joblessness, integrity in public administration, and civic freedoms as predictors of collective happiness. Leveraging longitudinal observations spanning 156 nations from 2008 through 2023, the analysis deploys panel regression frameworks complemented by generalized method of moments estimation to disentangle causal pathways. The empirical evidence demonstrates that economic uncertainty exerts a pronounced negative influence on reported well-being; crucially, however, this adverse relationship weakens considerably where governmental apparatus functions effectively. Beyond economic considerations, the findings illuminate that both anti-corruption initiatives and protections for open discourse independently elevate national happiness scores. A particularly striking pattern emerges from disaggregated analysis: economies in earlier developmental stages suffer more acutely from macroeconomic disturbances yet paradoxically stand to gain disproportionately from governance reforms. The interaction coefficient between volatility measures and institutional effectiveness indicators provides compelling support for the hypothesis that capable public institutions serve as shock absorbers during periods of economic stress. These discoveries advocate for integrated policy architectures that concurrently pursue fiscal stability and institutional fortification, with special attention directed toward safeguarding populations most exposed to economic vicissitudes through expanded social protection mechanisms.

Cross-Regional Variations in Political Turbulence Across Emerging Economies: Examining the Consequences for Macroeconomic Expansion

Al Mamun Liton — 2025-08-05

The present research explores how governmental volatility shapes output expansion trajectories within emerging market economies, with particular emphasis on geographical heterogeneity. Applying the Method of Moments Quantile Regression (MMQR) technique to a heterogeneous cross-country dataset spanning nearly three decades (1996-2023), this analysis incorporates distributional characteristics encompassing both central tendency and dispersion parameters. Empirical evidence demonstrates that governmental uncertainty substantially constrains output expansion across emerging markets, with particularly detrimental consequences observable in Asian and Sub-Saharan territories. Meanwhile, transitional European economies exhibit comparable adverse patterns, though these relationships fail to achieve conventional statistical thresholds. Consequently, the deleterious ramifications of governmental volatility appear relatively attenuated within European transitional economies compared to their Asian and African counterparts. Furthermore, governance effectiveness demonstrates negligible direct associations with macroeconomic expansion throughout these geographical clusters. Nevertheless, robust institutional frameworks prove instrumental in preserving governmental continuity, thereby cultivating favorable conditions for sustained output advancement. Accordingly, this investigation advocates for strengthening governance mechanisms in ways that facilitate macroeconomic prosperity. Additionally, by highlighting the critical importance of reducing governmental uncertainty, the research offers actionable recommendations for establishing stable political climates that support durable economic advancement.