International Journal of Applied Finance and Business Studies

The influence of financial literacy and financial inclusion on MSME performance in Pati Regency

2026-02-12T03:18:06+00:00

This study seeks to examine the impact of financial literacy and financial inclusion on the performance of Micro, Small, and Medium Enterprises (MSMEs) in Pati Regency. In this study, financial literacy and financial inclusion are the independent variables, and MSME performance is the dependent variable, assessed by measures of profit, marketing area, workforce, and capital. The study employs a quantitative methodology via a survey approach and data collecting via questionnaires administered to 100 MSME participants in Pati Regency. We utilized SPSS version 27 software to do multiple linear regression on the data. The findings indicate that financial literacy positively and significantly influences MSME performance in Pati Regency. This means that better understanding and better money management can help a business do better. Moreover, financial inclusion positively and significantly impacts MSME performance, underscoring the importance of access to and utilization of formal financial services in fostering MSME development. The adjusted R-square value of 13.6% indicates that the variables of financial literacy and financial inclusion can account for some of the differences in MSME performance, while other factors account for the rest.

Determinants of individual tax return filing compliance: Evidence from Indonesian civil servant teachers using PLS-SEM

2026-03-02T07:56:35+00:00

This study investigates the determinants of individual taxpayer compliance in filing annual tax returns among Indonesian civil servant teachers. The population of this study consists of civil servant public senior high school teachers in Pasuruan Regency, with a total population of 190 teachers. The number of samples collected was 68 respondents. Previous studies have reported inconsistent findings regarding the effectiveness of tax information dissemination and digital tax system integration in improving compliance behavior. This study aims to examine the role of tax information dissemination, tax interpretation, and tax information system integration in influencing taxpayer compliance. A quantitative research design was used with a survey approach. This study contributes to the tax compliance literature by emphasizing the importance of taxpayer understanding and digital system integration in improving compliance behavior among civil servant taxpayers.

Development of sustainable waste bank business models: A PRISMA-based systematic literature review

2026-01-30T04:53:32+00:00

The social and community dimensions of development are often complicated. The community and environmental problems can, however, be addressed with sociopreneurship, the social entrepreneurship and waste management system with the creation of waste banks. Nonetheless, banks are troubled by operational and sustainability issues. This study aims to develop a sociopreneurial waste bank business model. The author conducted a systematic literature review (SLR) based on PRISMA guidelines and examined 15 articles in the Google Scholar database. The results identified three operational models of waste banks (independent, partnership, corporatization) along with their internal and external challenges. This study proposes a sustainable sociopreneurship framework with five integrative characteristics: social value creation, social innovation, market orientation, social organization, and financial sustainability. It is concluded that a hybrid model, which combines the strengths of various models and is supported by digitalization, is the best path for waste bank sustainability. The implication of this research is a contribution to the development of sustainable social business models and provides a basis for further research regarding implementation and impact measurement.

Solvency, cash flow, and financial distress: A moderation analysis of company size

2026-01-07T15:06:51+00:00

This study investigates the impact of solvency and cash flow ratios on the likelihood of financial distress, while also examining the moderating effect of company size. The research focuses on firms in the property and real estate subsector listed on the Indonesia Stock Exchange (IDX) during the 2016–2020 period. Using a purposive sampling method, 57 firms were selected, resulting in 285 firm-year observations. Logistic regression analysis was employed to test the hypotheses. The results show that solvency has a significant positive effect on financial distress, indicating that higher levels of debt increase the likelihood of financial difficulties. In contrast, cash flow does not exhibit a significant influence on financial distress. Furthermore, company size fails to moderate the relationship between both solvency and financial distress, as well as cash flow and financial distress. These findings suggest that large company size does not necessarily mitigate the adverse effects of financial structure or liquidity on financial health within the property and real estate sector in Indonesia.

Developing a digital marketing–driven hybrid entrepreneurship model for wood waste craft MSMEs

2025-12-16T09:08:47+00:00

This study aims to design a hybrid entrepreneurship model based on digital marketing tailored to the needs of small-scale woodcraft MSMEs in rural areas. A mixed-methods approach was employed through a survey of 75 respondents and Focus Group Discussions (FGDs). The findings indicate that while entrepreneurs exhibit strong motivation and basic managerial capabilities, their digital literacy and use of online marketing channels remain limited. This reveals a readiness gap between intention and digital competence. In response, a conceptual model was formulated at Technology Readiness Level (TRL) 2, comprising four components: internal entrepreneurial readiness, integration of hybrid marketing channels (offline and online), mechanisms for training and mentoring, and strategic outcomes in the form of increased literacy and competitiveness. The model was developed modularly and grounded in field data, offering a framework for targeted interventions in training programs and policy design for digitally empowered MSME development.

Green marketing and omnichannel strategies on purchase decisions: The mediating role of disruptive marketing innovation

2026-02-23T05:42:49+00:00

This study aims to analyze the effect of green marketing and omnichannel on purchasing decisions with disruptive marketing innovation as a mediating variable in environmentally friendly batik MSMEs. This study uses a quantitative approach with a survey method targeting Zie Batik Semarang consumers who have purchased products online and offline. Primary data were collected through a five-point Likert scale questionnaire and analyzed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method. The results show that green marketing does not have a significant effect on purchase decisions. Omnichanel have a significant effect on purchase decision. Green marketing does not have a significant effect on disruptive marketing innovation. Omnichanel have a significant effect on disruptive marketing innovation. Disruptive marketing innovation have a significant effect on purchase decision. Disruptive marketing innovation is unable to mediate the effect of green marketing on purchase decisions. Disruptive marketing innovation is able to mediate the effect of omnichannel on purchase decisions. These findings indicate that the implementation of sustainable marketing strategies integrated with omnichannel systems and adaptive marketing innovations can increase consumer purchasing decisions in environmentally friendly batik SMEs. This study is expected to serve as a reference for SME players in designing relevant marketing strategies in the era of digital disruption.

A19-v The Effect of Technical Skills and Digital Literacy on Transaction Efficiency in the Use of the ShopeePay E-Wallet

2026-01-07T15:04:03+00:00

The development of digital technology has driven a significant increase in the use of cashless payment systems, one of which is the ShopeePay e-wallet. Transaction efficiency has become a critical factor in evaluating the success of e-wallet adoption, as it is influenced not only by the availability of advanced technology but also by users’ readiness and capabilities. This study aims to analyze the effects of technical skills and digital literacy on transaction efficiency in the use of the ShopeePay e-wallet. This research employs a quantitative approach with a causal research design and is analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) through the SmartPLS software. The data were collected from active ShopeePay users who met the research criteria. The results indicate that technical skills have a positive and significant effect on transaction efficiency, with a path coefficient of 0.734 and a T-statistics value of 11.838. In addition, digital literacy is also proven to have a positive and significant effect on transaction efficiency, with a path coefficient of 0.233 and a T-statistics value of 3.555. These findings demonstrate that technical skills exert a more dominant influence than digital literacy in enhancing the transaction efficiency of ShopeePay. Therefore, improving the efficiency of e-wallet transactions depends not only on the sophistication of the payment system but also on the enhancement of users’ technical skills and digital literacy. This study is expected to contribute to the development of user education strategies and the improvement of e-wallet service quality in Indonesia.

ESG disclosure on corporate value in Indonesia: A moderation approach by ownership structure and auditor reputation

2025-12-13T11:05:41+00:00

This study aims to analyze the influence of Environmental, Social, and Governance (ESG) on company value, with the ownership structure and reputation of auditors as moderation variables in public companies in Indonesia during the 2023–2024 period. This study uses an associative quantitative approach with an ex post facto method, based on secondary data from annual reports, audited financial statements, and ESG ratings from Sustainalytics. The sample was obtained through a purposive sampling technique which included 312 observations of non-financial companies listed on the Indonesia Stock Exchange. Data analysis was carried out using Moderated Regression Analysis (MRA) and tested robustly with the Fixed Effects (FE) and System GMM approach to ensure consistency of results. The results showed that ESG did not have a significant effect on company value, while company size (SIZE) and profitability (ROA) had a significant positive effect. Meanwhile, the auditor's ownership structure and reputation have not been proven to strengthen the ESG relationship with company value. The robustness test confirmed that the results were stable and not affected by endogenicity issues. Theoretically, these findings support the theory of legitimacy and signaling, where ESG practices in Indonesia still function as a means of social legitimacy, rather than economic signals that are clearly appreciated by the market. From a practical perspective, the findings suggest that managers should integrate ESG initiatives with clear financial outcomes and transparent value-creation strategies. Additionally, regulators and policymakers are encouraged to improve ESG reporting standards and market literacy, while investors are advised to interpret ESG information cautiously and in conjunction with conventional financial indicators when evaluating company value.

Asymmetric information moderation on the effect of institutional ownership on the oversubscription phenomenon of companies listed on the Indonesian stock exchange 2020-2022

2026-01-22T07:44:12+00:00

This study examines the effect of institutional ownership on IPO oversubscription in the Indonesian capital market, explicitly addressing the role of asymmetric information both as an explanatory factor and as a potential moderator. Drawing on signaling theory and information asymmetry theory, the study contributes to the IPO literature by empirically testing whether institutional investors serve as credible signals under conditions of uneven information distribution. Using a sample of 96 oversubscribed IPO firms listed on the Indonesia Stock Exchange during 2020–2022, multiple regression and moderated regression analysis are employed. The findings show that institutional ownership and asymmetric information each exert a positive and economically meaningful effect on oversubscription, while asymmetric information does not significantly moderate the institutional ownership–oversubscription relationship. This result fills a gap in the literature where asymmetric information has largely been treated as either a direct determinant or a conceptual argument, rather than a tested moderating mechanism. The findings imply that heightened information frictions may amplify speculative demand rather than dampen investor participation, with important implications for IPO pricing, disclosure quality, and investor protection in emerging markets.

Influence of brand experience, customer review and customer satisfaction on repurchase intention among erigo customers on shopee

2026-01-06T00:45:55+00:00

This study aims to analyze the influence of brand experience, customer reviews, and customer satisfaction on repurchase intention among Erigo customers on the Shopee marketplace. The research adopts a quantitative approach using a survey method, with a sample of 120 respondents who have previously purchased Erigo products through Shopee. The variables examined include brand experience (sensory, emotional, intellectual, and behavioral), customer reviews (argument quality, volume, valence, timeliness, and source credibility), customer satisfaction (expectation confirmation, willingness to repurchase, and willingness to recommend), and repurchase intention (transactional, explorative, preferential, and referential interest). Data were analyzed using multiple linear regression with SPSS 25.0, and all measurement instruments met validity and reliability requirements, with Cronbach’s alpha values exceeding 0.70. The results indicate that brand experience has a positive and significant effect on repurchase intention (β = 0.283, p < 0.001). Customer reviews also have a positive and significant influence on repurchase intention (β = 0.217, p < 0.001), suggesting that credible and positive reviews strengthen consumer confidence. Customer satisfaction is identified as the most influential variable (β = 0.327, p < 0.001), demonstrating that fulfilled expectations and positive consumption experiences strongly encourage repeat purchases of Erigo products. Theoretically, this study contributes to consumer behavior literature by confirming the role of experiential, informational, and affective factors in shaping repurchase intention in e-commerce contexts. Practically, the findings highlight the importance for Erigo and similar fashion brands to maintain consistent brand experiences, encourage authentic customer reviews, and enhance satisfaction drivers such as product quality, service responsiveness, and delivery accuracy.

The impact of fintech on sustainability performance through financial inclusion: A case study of MSME actors in Indonesia using diffusion of innovation theory (DIT)

2025-12-15T05:39:36+00:00

This study analyzes the role of Financial Technology (FinTech) in improving the sustainability performance of MSMEs in Indonesia by positioning financial inclusion as a mediating mechanism within the Diffusion of Innovation Theory (DIT) framework. Although various studies acknowledge the contribution of FinTech to business sustainability, the mechanisms explaining how FinTech adoption translates into sustainable performance achievements have not been empirically studied, especially in the context of MSMEs in developing countries. To fill this gap, this study uses a quantitative survey-based approach involving 205 MSME actors who use FinTech services in Indonesia. The data is analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the direct and indirect relationships between FinTech, financial inclusion, and sustainability performance. The results of the study indicate that FinTech has a positive and significant effect on financial inclusion and sustainability performance. In addition, financial inclusion also has a positive and significant effect on sustainability performance and acts as a significant mediator in the relationship between FinTech and sustainability performance. These findings indicate that FinTech will be more effective in promoting the sustainability of MSMEs if accompanied by the expansion of inclusive digital financial access. Theoretically, this study expands the application of DIT from merely explaining innovation adoption to understanding the performance implications of digital financial innovation. Practically, these findings emphasize the importance of strengthening an inclusive digital financial ecosystem to support the sustainability of MSMEs in Indonesia.

Digital transformation and the rise of digital leadership: A bibliometric science mapping analysis

2026-01-07T15:11:10+00:00

Digital transformation has become a strategic phenomenon that fundamentally changes the way organizations operate, innovate, and are led. The development of digital technologies such as artificial intelligence, big data, and cloud computing requires organizations to not only adapt technically but also make significant changes in leadership paradigms. This study aims to analyze the development of scientific literature related to the impact of digital transformation on leadership using a bibliometric approach. The research data was obtained from the Scopus database with a total of 106 articles published in the period 2021–2025 and selected using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method. The analysis was conducted through performance analysis and science mapping with the help of bibliometric visualization software. The results show a very significant growth in publications, indicating increasing academic attention to digital leadership. The findings also reveal that leadership in the digital era is multidisciplinary, collaborative, and dynamic, and is influenced by the interaction between technology, organizational culture, and individual leader capabilities. However, there are still research gaps related to the dimensions of ethics, sustainability, and the local context of the organization. This study confirms that the success of digital transformation is highly dependent on the readiness and capabilities of holistic and contextual digital leadership.

Trends in green accounting research: A systematic literature review

2026-01-05T15:19:34+00:00

A global issue and problem that is widely discussed by classrooms around the world as well as the mass media is the issue of the environment. Current global environmental issues include climate change, environmental pollution, and over-exploitation of nature. Green accounting is considered more appropriate because it is more fundamental, as it is based on the three basic principles of corporate responsibility, namely economic responsibility (profit), social responsibility (people), and environmental responsibility (planet). The method used in this research is a literature study. Systematic literature study as a literature study research to define systematically, explicitly, and comprehensively a problem topic to identify research gaps and describe research that has been carried out in the past both from the subject and object of research, research methods, and research results. The results is green accounting research has become a relevant research trend in the current conditions aimed at sustainable environmental management including environmental accounting. The topics are interrelated and interconnected, for example, the close relationship between good corporate governance to increase company value and attract investors.

A systematic review of information systems and greenwashing detection models in corporate sustainability reporting (2024-2025)

2025-12-16T07:36:42+00:00

This study systematically reviewed recent developments in the use of information systems and digital technologies for detecting and reducing greenwashing in corporate sustainability reporting during the period of 2024–2025. Using a systematic literature review approach based on established guidelines, this study examined forty-five peer-reviewed journal articles published between January 2024 and September 2025. The findings showed that information systems had progressed from basic data management tools into integrated digital ecosystems that employed artificial intelligence, natural language processing, blockchain, and environmental, social, and governance analytics to identify misleading sustainability disclosures. The review revealed four major themes, namely digital transparency and data integrity, technology-driven detection and predictive analysis, governance and ethical structures, and sector-specific reporting practices. Although meaningful advancements had been achieved, several challenges persisted, particularly the absence of standardized digital verification models and limited accountability in algorithm-based assessments. This study contributed to theoretical and practical discussions by mapping how information-system-based models strengthened the credibility of sustainability reporting and by outlining future research directions to improve greenwashing detection mechanisms.

The effect of hotel facilities and guest satisfaction on customer loyalty at the Sibayak Hotel Berastagi

2026-01-13T05:21:05+00:00

This study aims to determine: (1) the influence of hotel facilities on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. (2) the influence of guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. (3) the influence of hotel facilities and guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. This research approach is quantitative research using a questionnaire. The population in this study were 300 customers at the Sibayak Berastagi Hotel in July to September 2025. From a population of 300 customers using the Slovin formula and a significance level of 10%. Based on the calculation, a sample of 75 customers was obtained. Direct hypothesis testing was used with the F test and partially with the t test. Based on the results of the study are as follows: (1) Partially the first hypothesis states that there is an influence of hotel facilities on customer loyalty at the Sibayak Berastagi Hotel. (2) Partially the second hypothesis states that there is an influence of guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel. (3) Simultaneously, hotel facilities and guest satisfaction together have a significant influence on customer loyalty at the Sibayak Berastagi Hotel. (4) The effective contribution generated is 0.651, meaning that 65.1% of the independent variables contribute an effective influence on the dependent variable, while the remaining 34.9% is influenced by other factors.

The phenomenon of jasa titip (jastip) in e-commerce: Analysis of consumer behavior and its growth potential (a case study in Fakfak, West Papua)

2026-01-13T05:34:12+00:00

Along with the development of technology and the internet, e-commerce has become the primary choice for consumers to obtain goods from outside their regions. However, in remote areas like Fakfak, limited infrastructure often becomes an obstacle in accessing products from outside the region. As a solution, the jasa titip (Jastip) service has emerged, allowing consumers to purchase goods from outside the region through intermediaries, with more efficient shipping costs. This study aims to analyze the phenomenon of Jasa Titip (Jastip) in e-commerce in Fakfak, West Papua, focusing on consumer behavior and its growth potential. This research uses a qualitative approach with a case study method. Data were collected through in-depth interviews with consumers, Jastip providers, and relevant parties. In addition, observation and documentation were used to strengthen the findings. The results indicate that Jastip actors are motivated by a combination of economic opportunities and community needs due to gaps in product access. Operationally, Jastip in Fakfak has a relatively systematic workflow, but it is still manual and has not been integrated into a digital system. Trust is a key factor in consumer behavior, while service quality and communication play an important role in shaping consumer satisfaction, especially in dealing with logistical limitations and delivery delays. The research findings also show that Jastip in Fakfak has significant growth potential.

The impact of consumer boycott on corporate financial performance: Evidence from PT Unilever Indonesia TBK

2026-03-05T05:07:39+00:00

This study examines the comparative financial performance of PT Unilever Indonesia Tbk before and during the viral boycott of Israeli/pro-Israel products in Indonesia. Using a quantitative comparative approach, financial performance is evaluated through liquidity, solvency, activity, and profitability ratios based on quarterly financial reports from Q4-2022 to Q3-2024. The findings indicate fluctuations in several financial ratios during the boycott period; however, the overall financial performance category remained relatively stable. Liquidity and solvency ratios were categorized as suboptimal both before and during the boycott, while profitability and activity ratios largely remained in the optimal category.

The influence of customer service skills and user interface on dana e-wallet user loyalty

2026-01-13T05:21:51+00:00

The development of digital technology has driven the increased use of digital-based financial services, one of which is the DANA e-wallet. User loyalty is a crucial factor in sustaining e-wallet usage, which is influenced not only by the technological features provided but also by the quality of service interactions and the ease of application use. This study aims to analyze the influence of customer service skills and user interface on the loyalty of DANA e-wallet users. This research employs a quantitative approach with a causal method and is analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) through SmartPLS software. The data were collected from active DANA e-wallet users who met the research criteria. The results indicate that the user interface has a positive and significant effect on user loyalty, with a path coefficient of 0.379 and a T-statistic value of 3.716. In addition, customer service skills also have a positive and significant effect on user loyalty, with a path coefficient of 0.366 and a T-statistic value of 3.595. These findings show that the user interface has a more dominant influence than customer service skills in enhancing the loyalty of DANA e-wallet users. Therefore, e-wallet user loyalty depends not only on the quality of the technological system but also on the quality of service and the ease of interaction perceived by users. This study is expected to contribute to the development of strategies for improving service quality and application interface design of e-wallets in Indonesia.

The influence of brand image, product quality, and price on customer satisfaction of Wardah beauty products

2025-12-12T07:42:53+00:00

This study aims to investigates the influence of brand Image, product quality, and price on customer satisfaction of Wardah Beauty Products in Bogor. The research uses a quantitative approach to analyze the relationship between independent variables and dependent variables. The sampling technique used in this study is convenience sampling, which allowed the researcher responses from individuals who were easily accessible and willing to participate. The population of this research consist of consumers residing in Bogor and have used wardah beauty products at least once prior to this study. The number of samples was 100 respondents. Data were collected through an online questionnaire distributed using google form links shared via social media platforms, particularly WhatsApp. The data analysis technique used multiple regression analysis to determine the significance and direction relationship among the variable studied. The results demonstrate that brand image, product quality, and price have a positive and significant influence on customer satisfaction of Wardah Beauty Products.

Building brand awareness for local skincare brand glad2glow: The role of UGC, testimonials, and audience engagement on tiktok

2026-02-12T04:10:31+00:00

This study seeks to investigate the impact of User Generated Content (UGC) and testimonials on brand awareness, with engagement serving as a mediating variable, for the skincare company Glad2Glow on TikTok. This study utilizes a quantitative methodology through the implementation of a survey technique. Data were gathered via questionnaires administered to respondents TikTok users and have encountered Glad2Glow’s digital marketing content. Sampling technique was purposive sampling, with the respondent count established according to predetermined study criteria. The investigation utilized Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings demonstrate that testimonials have a significant effect on engagement and brand awareness, with engagement effectively mediating the relationship between testimonials and brand awareness. These findings indicate that genuine, experience-driven testimonials enhance audience engagement and bolster brand awareness. The study reveals that User Generated Content (UGC) does not significantly influence brand awareness, neither directly nor indirectly via engagement as a mediating variable. This suggests that broad or low-credibility user-generated content may inadequately facilitate meaningful connections and is insufficient for establishing robust brand perceptions in consumers' thoughts. The findings offer managerial insights for organizations to develop more effective digital marketing strategies by emphasizing credible testimonial-based material to improve brand awareness on social media platforms.

Investigation of job satisfaction with training effectiveness through workload adjustment and work motivation

2026-01-05T15:21:57+00:00

This study aims to analyze the effect of training on employee job satisfaction, focusing on workload and motivation. This research proposes that practical training can reduce workload, increase motivation, and ultimately increase employee job satisfaction. The research method used was quantitative, with an association approach, identifying the relationship between the variables. The research population consisted of 199 employees of the Cilegon City Public Works and Spatial Planning Office, with a total sampling technique. Data collection was conducted using a Likert-scale questionnaire. For data analysis, Structural Equation Modeling (SEM) was used with SmartPLS 4.0. The results of the study show that training has no direct effect on job satisfaction; however, it does have a significant effect on work motivation and workload, which, in turn, affect job satisfaction. Training that is relevant and tailored to employees' needs has been proven to reduce perceived workload, increase motivation, and boost job satisfaction. These findings make an important contribution to the development of human resource management strategies to improve employee performance and satisfaction in the public sector. It is hoped that this research can make a theoretical contribution to the literature in this context, of course, in the context of human resource management.

The effect of job training and work environment on employee performance at PT. Suri Motor Indonesia

2025-12-16T09:24:29+00:00

Study this aim for know influence training work and environment Work to performance employees at PT. Suri Motor Indonesia. The research method used is approach quantitative with technique analysis multiple linear regression. Hypothesis testing done through a number of stages, namely the F test, t test, coefficient determination (R²), as well as identification the most dominant variable. The results of the analysis show that equality regression obtained is: Y = 1.378 + 0.280X₁ + 0.605X₂. Based on the F test, it is obtained mark F count of 62,527 > Ftable 3,080 with mark significance of 0.000, which means training work and environment Work in a way simultaneous influential significant to performance employees. Furthermore, the value coefficient Adjusted R² determination of 0.524 shows that 52.4% of the variation performance employee can explained by both variables independent, whereas the remaining 47.6% is explained by other factors outside the research model. Based on the t-test, training Work influential significant in a way partial to performance employees (t hitung = 3.975 > ttabel = 1.98209; sig. = 0.000), as well as the environment work (thitung = 7.521 > ttabel = 1.98209; sig. = 0.000). From the results of the standardized beta coefficients, it is known that that environment Work is the most dominant variable influence performance employee with beta value of 0.550. With thus, it can concluded that improvement training work and creation environment good work plays a big role in increase performance employee.

The impact of PT XL Axiata Tbk’s divestment on the stock zerformance of PT Mora Telematika Tbk on the Indonesia stock exchange

2026-01-08T09:04:42+00:00

This research aims to examine the impact of divestment occurring in the shares of PT. Mora Telematika Tbk on the Indonesia Stock Exchange. This research is categorized as a comparative study, which aims to compare the stock performance of PT Mora Telematika Indonesia Tbk before and after the divestment by PT XL Axiata Tbk. Performance is measured using two key metrics: actual return and trading volume activity. The data used in this study are secondary data, specifically daily closing stock prices (Closed Price) sourced from published financial statements and financial performance summaries of PT Mora Telematika Indonesia Tbk. The observation period covers one month prior to the divestment and one month following the divestment by PT XL Axiata Tbk. The data analysis technique used in this research is comparative analysis, which compares stock performance based on actual return and trading volume activity of PT Mora Telematika Indonesia Tbk before and after the divestment by PT XL Axiata Tbk. The data analysis method utilizes paired sample tests, specifically the Wilcoxon test. Based on the research findings, it is concluded that the divestment had a significant impact on the actual stock returns of PT Mora Telematika Tbk. The actual returns experienced an average decline of 11%, driven by dominant factors such as negative sentiment or rumors surrounding the company’s shares, as well as investor profit-taking. On the other hand, the Trading Volume Activity (TVA) showed no significant change before and after the divestment.

The effect of work stress and job satisfaction on turnover intention at PT BFI finance Tbk Cikupa Tangerang Sector

2026-01-02T14:07:56+00:00

This study aims to analyze the effect of Work Stress and Job Satisfaction on Turnover Intention in employees. The method used in this study is a quantitative survey of employees working across several PT companies. BFI Finance Cikupa Tangerang. Data were collected through questionnaires and analyzed using multiple linear regression to test the proposed hypotheses. The results showed that Work Stress did not have a significant effect on Turnover Intention, with a significance value of 0.862. In contrast, Job Satisfaction was shown to have a strong negative influence on Turnover Intention, with a significance value of 0.000. In addition, the analysis showed that the combination of Work Stress and Job Satisfaction significantly influenced Turnover Intention, with a significance value of 0.000. These findings indicate that increased Job Satisfaction can reduce employees' intention to leave the company, while Work Stress needs to be managed in a broader context. This research makes an essential contribution to human resource management in designing strategies to retain employees and improve work well-being.

The influence of career development, work motivation, and job satisfaction on employee performance at X Resort Barelang Batam

2025-12-16T09:35:31+00:00

This study investigates the influence of career development, work motivation, and job satisfaction on employee performance at X Resort Barelang Batam, a four-star hospitality establishment operating under The Ascott Limited network. Using a quantitative approach with 85 respondents and statistical analysis conducted through SPSS 25, the research aims to determine the extent to which these human resource variables contribute to performance outcomes. The results reveal that all three independent variables—career development (X₁), work motivation (X₂), and job satisfaction (X₃)—have positive and significant effects on employee performance (Y). Among them, job satisfaction demonstrates the strongest influence (β = 0.308; Sig = 0.002), followed by work motivation (β = 0.305; Sig = 0.005) and career development (β = 0.136; Sig = 0.198). The model’s coefficient of determination (R² = 0.601) indicates that 60.1% of performance variation is explained by these factors. The findings highlight that structured career development, effective motivational strategies, and enhanced job satisfaction collectively strengthen employee engagement and service quality. These results confirm the theoretical propositions of human capital and expectancy theories while providing practical implications for improving human resource policies within the hospitality sector.

Safe haven assets in emerging market (evidence from gold, government bonds, and crude oil in Indonesia 2019 – 2024)

2026-01-10T15:47:37+00:00

The study investigates the Save Haven properties of Gold, West Texas Intermediate (WTI) Crude Oil and Indonesian Government Bonds with maturities of 5 and 10 years against the Indonesian stock market over the period 2019 – 2024. The period encompasses episodes of global financial stress, the COVID-19 pandemic, post-pandemic recovery, and heightened geopolitical and macroeconomic uncertainty from 2019 to 2024. Understanding safe-haven assets is crucial for investors in the Indonesian stock market, especially during periods of market turbulence. This study examines the characteristics of these assets, their link with geopolitical factors and economic stability, the influence of foreign exchange rates, and the function of diversification strategies in risk mitigation. We applied quantile regression method processed to evaluate relationship across different points of the return distribution. The results indicate that gold functions as a conditional safe-haven asset in Indonesia. Government bonds 5 years and 10 years demonstrate a maturity-dependent safe-haven attribute. Conversely, WTI crude oil serves as a significant safe haven predominantly in the later segments of the sample, notably in 2023 and 2024, while exhibiting minimal safe-haven characteristics during the initial periods. Overall, the results underscore the inherently dynamic and asset-specific nature of safe-haven effectiveness in emerging markets, demonstrating that no single asset consistently provides protection across all market scenarios in Indonesia