E-Jurnal Ekonomi dan Bisnis Universitas Udayana
Economic and Business E-Journal of Udayana University (EEB) ISSN ONLINE: 2337-3067 is an electronic scientific journal that publishes the results of economic and business studies. EEB is published periodically every month with an online format. EEB Editor receives written results of studies in the fields of economics, management, and accounting, both empirical and theoretical studies which are analyzed qualitatively and quantitatively and have never been and will not be published in other media. The incoming script will be evaluated and edited for uniformity of formats, terms and other procedures according to the style of the environment that applies to the E-Journal of Economics and Business at Udayana University. E-Journal of Economics and Business at Udayana University was published by the Faculty of Economics and Business, Udayana University.
Fakultas Ekonomi dan Bisnis Universitas Udayana
OVERREACTION TERHADAP PENGUMUMAN PELUNCURAN INDEKS DI BURSA EFEK INDONESIA
Harga saham tidak selalu mencerminkan nilai fundamental perusahaan dan investor seringkali irasional karena dapat dipengaruhi oleh faktor psikologis, emosi dan bias pribadi dalam mengambil keputusan investasi. Penelitian ini merupakan studi peristiwa untuk menguji fenomena overreaction terhadap kandungan informasi terhadap pengumumuman peluncuran indeks di Bursa Efek Indonesia, yaitu IDXESGL, IDXHIDIV20, dan IDXLQ45LCL. Analisis terhadap fenomena overreaction sebagai informasi penting yang dapat membantu investor agar dapat terhindar dari keputusan investasi yang kurang tepat. Penelitian ini menggunakan pendekatan studi peristiwa, dengan menganalisis abnormal return di periode seputar pengumuman (event window), yaitu 5 sampai dengan 10 hari sebelum maupun sesudah hari pengumuman peluncuran dari setiap indeks. Data yang dikumpulkan meliputi harga saham individual yang terdaftar pada masing-masing indeks, indeks harga pasar, dan suku bunga bebas risiko (BI rate) secara terus menerus selama periode estimasi dan event window. Uji variabel menggunakan uji statistik parametrik yaitu one sample t-test dan paired sample test untuk data yang berdistribusi normal, dan uji non-parametrik untuk data yang berdistribusi tidak normal. Hasil penelitian menunjukkan bahwa reaksi pasar bervariasi dalam merespon pengumuman peluncuran indeks baru di Bursa Efek Indonesia, overreaction terjadi pada pengumuman peluncuran indeks ESG Leaders (ESGL) dan LQ45 Low Carbon Leaders (LQ45LCL), dan tidak terjadi pada indeks HIDIV20. Penelitian ini berkontribusi terhadap literatur keuangan dengan menyajikan bukti empiris mengenai keberadaan fenomena overreaction di pasar modal Indonesia, yang mencerminkan karakteristik pasar dengan tingkat efisiensi bentuk lemah. Stock prices do not always reflect a company's fundamental value, and investors are often irrational due to the influence of psychological factors, emotions, and personal biases in making investment decisions. This study is an event study aimed at examining the phenomenon of overreaction to the informational content of index launch announcements on the Indonesia Stock Exchange, specifically the IDXESGL, IDXHIDIV20, and IDXLQ45LCL. The analysis of overreaction is considered important information that can help investors avoid making poor investment decisions. This research employs an event study approach by analyzing abnormal returns during the period surrounding the announcements (event window) specifically, 5 to 10 days before and after the event date of each index launch. The data collected include individual stock prices listed in each respective index, the overall market index, and the risk-free interest rate (BI rate), continuously observed during the estimation period and the event window. Statistical testing of variables uses parametric tests such as the one-sample t-test and paired sample t-test for normally distributed data, and non-parametric tests for non-normally distributed data. The results show that market reactions vary in response to the launch announcements of new indices on the Indonesia Stock Exchange, Overreaction was observed in the announcements of the ESG Leaders (IDXESGL) and LQ45 Low Carbon Leaders (IDXLQ45LCL) indices, but not in the HIDIV20 index. This research contributes to the financial literature by providing empirical evidence of overreaction in Indonesia capital market which reflects the characteristics of the weak-form market efficiency.
Hak Cipta (c) 2026 G. A. Sri Oktaryani, Iwan Kusmayadi, Muhammad Ahyar, Annisa Cahaya Maharani Lombok Prihatini (Author) https://creativecommons.org/licenses/by/4.0
DINAMIKA GREEN INNOVATION DAN ENVIRONMENTAL PERFORMANCE: PENDEKATAN RESOURCE-BASED VIEW DAN LEGITIMACY THEORY
Perkembangan isu keberlanjutan mendorong perusahaan mengintegrasikan green innovation sebagai strategi unggulan untuk meningkatkan environmental performance. Studi ini mengkaji dampak green process innovation, green product innovation, green image, serta interaksi antara green product innovation dan green image terhadap environmental performance. Berlandaskan teori RBV (Resource-Based View), green innovation dipandang sebagai kapabilitas strategis yang memperkuat daya saing berkelanjutan, sementara Legitimacy Theory menjelaskan bagaimana green image berperan dalam memperoleh dukungan serta kepercayaan pemangku kepentingan dan masyarakat. Studi ini menggunakan analisis regresi data panel melalui metode Panel EGLS (Cross-section random effects) pada 51 perusahaan sektor energi selama periode 2022-2024. Hasil studi menunjukkan green process innovation dan green image berdampak positif terhadap environmental performance. Sebaliknya, green product innovation tidak menunjukkan dampak yang signifikan sehingga belum memberikan kontribusi terhadap performa lingkungan. Temuan menarik muncul pada interaksi green product innovation dan green image berdampak negatif terhadap environmental performance. Studi ini berkontribusi teoretis terhadap literatur green innovation dan implikasi praktis bagi strategi keberlanjutan perusahaan. The development of sustainability issues has encouraged companies to integrate green innovation as a leading strategy to improve environmental performance. This study examines the impact of green process innovation, green product innovation, green image, and the interaction between green product innovation and green image on environmental performance. Based on the Resource-Based View (RBV) theory, green innovation is seen as a strategic capability that strengthens sustainable competitiveness, while Legitimacy Theory explains how green image plays a role in gaining the support and trust of stakeholders and the community. This study uses panel data regression analysis through the Panel EGLS (Cross-section random effects) method on 51 companies in the energy sector during the 2022-2024 period. The results show that green process innovation and green image have a positive impact on environmental performance. Conversely, green product innovation does not show a significant impact and therefore does not contribute to environmental performance. An interesting finding emerges from the interaction between green product innovation and green image, which has a negative impact on environmental performance. This study contributes theoretically to the literature on green innovation and has practical implications for corporate sustainability strategies.
Hak Cipta (c) 2026 Sayekti Endah Retno Meilani, Sayekti Endah Retno Meilani (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH PHILANTHROPY DISCLOSURE DAN RISIKO SISTEMATIS TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI
Penelitian ini bertujuan untuk memperoleh bukti empiris mengenai pengaruh philanthropy disclosure dan risiko sistematis terhadap nilai perusahaan dengan menggunakan ukuran perusahaan sebagai variabel moderasi. Populasi dalam penelitian ini adalah perusahaan pertambangan yang terdaftar di BEI periode 2019-2023. Hasil seleksi sampel menggunakan metode purposive sampling berjumlah 276 perusahaan dianalisis dengan teknik analisis regresi moderasi. Hasil penelitian menunjukkan bahwa philanthropy disclosure berpengaruh positif terhadap nilai perusahaan, risiko sistematis berpengaruh negatif terhadap nilai perusahaan, ukuran perusahaan memperlemah pengaruh positif philanthropy disclosure terhadap nilai perusahaan, namun memperkuat pengaruh negatif risiko sistematis terhadap nilai perusahaan. Implikasi teoretis penelitian ini mampu mengonfirmasi teori sinyal dan teori stakeholder berdasarkan hasil uji hipotesis yang dilakukan. Implikasi praktis penelitian ini memberikan informasi kepada investor dan manajer mengenai faktor yang dapat dipertimbangkan untuk menilai perusahaan. This study aims to obtain empirical evidence on the effect of philanthropy disclosure and systematic risk on firm value using firm size as a moderating variable. The population in this study were mining companies listed on the IDX for the 2019-2023 period. The results of sample selection using the purposive sampling method totaling 276 companies were analyzed using the moderation regression analysis technique. The results of the study indicate that philanthropy disclosure has a positive effect on firm value, systematic risk has a negative effect on firm value. Firm size weakens the positive effect of philanthropy disclosure on firm value, but strengthens the negative effect of systematic risk on firm value. The theoretical implications of this study are able to confirm the signal theory and stakeholder theory based on the results of the hypothesis tests conducted. The practical implications of this study provide information to investors and managers regarding factors that can be considered in assessing a company.
Hak Cipta (c) 2026 I Gst Ayu Eka Damayanthi, I Gusti Ngurah Agung Suaryana, Made Oka Candra Andreana, Anisa Virdawati Amara, Ni Kadek Dian Purwanti, Putu Dhira Pratiwimba (Author) https://creativecommons.org/licenses/by/4.0
MEMBACA NIAT KUNJUNGAN KEMBALI MELALUI ANALISIS SENTIMEN PEMASARAN SENSORIK
Persaingan intens di sektor restoran kawasan wisata menuntut diferensiasi beyond kualitas makanan, khususnya melalui pemasaran sensorik yang mempengaruhi keputusan pembelian konsumen di era transformasi digital. Penelitian ini menganalisis sentimen ulasan Google Maps Amarta Penida Restaurant untuk memahami dampak pemasaran sensorik terhadap persepsi dan niat berkunjung kembali konsumen. Metode kuantitatif deskriptif diterapkan melalui analisis sentimen berbasis leksikon VADER pada 1.195 ulasan pelanggan periode 2021 - 2025, analisis TF-IDF untuk identifikasi kata diskriminatif, dan validasi menggunakan algoritma Naive Bayes. Hasil menunjukkan dominasi sentimen positif sebesar 90,0 persen dengan rasio positif-negatif 24:1. Analisis TF-IDF mengidentifikasi kata "view" dan "sunset" sebagai prediktor utama sentimen positif, mengonfirmasi elemen visual merupakan stimulus pemasaran sensorik terpenting. Terdapat kongruensi antara rating numerik tinggi dan sentimen tekstual positif, dengan akurasi validasi Naive Bayes mencapai 91,38 persen. Penelitian mengonfirmasi aplikasi Teori Stimulus-Organism-Response dan Theory of Planned Behavior dalam konteks restoran wisata, memberikan implikasi manajerial untuk optimalisasi pengalaman sensorik dan kontribusi teoretis signifikan bagi literatur pemasaran sensorik. Intense competition in the restaurant sector of the tourist area demands differentiation beyond food quality, in particular through sensory marketing that influences consumer purchasing decisions in the era of digital transformation. This study analyzed the sentiment of Google Maps reviews of Amarta Penida Restaurant to understand the impact of sensory marketing on the perception and intention of revisiting consumers. Descriptive quantitative methods were applied through sentiment analysis based on VADER lexicon on 1,195 customer reviews for the period 2021-2025, TF-IDF analysis for discriminative word identification, and validation using Naive Bayes algorithm. The results showed a predominance of positive sentiment by 90.0 percent with a positive-negative ratio of 24:1. The TF-IDF analysis identified the words "view" and "sunset" as key predictors of positive sentiment, confirming the visual element is the most important sensory marketing stimulus. There is a congruence between high numerical ratings and positive textual sentiment, with Naive Bayes ' validation accuracy reaching 91.38 percent. The research confirms the application of Stimulus-organism-response theory and Theory of Planned Behavior in the context of restaurant tourism, providing managerial implications for the optimization of sensory experience and significant theoretical contributions to the sensory marketing literature.
Hak Cipta (c) 2026 Putu Dyah Permatha Korry, I Gede Rangga Weda Adi Nugraha (Author) https://creativecommons.org/licenses/by/4.0
FAKTOR SOSIAL DAN KETENAGAKERJAAN TERHADAP PERTUMBUHAN EKONOMI NASIONAL INDONESIA TAHUN 2015-2024
Pertumbuhan ekonomi menjadi indikator utama yang mencerminkan tingkat kesejahteraan serta keberhasilan pembangunan suatu negara. Dalam konteks Indonesia, perbedaan karakteristik sosial dan struktur ketenagakerjaan antar provinsi berpotensi memengaruhi arah dan kecepatan perkembangan ekonomi. Penelitian ini dilakukan untuk mengkaji pengaruh penduduk miskin, tingkat pengangguran terbuka, tenaga kerja formal, dan Indeks Pembangunan Manusia (IPM) terhadap pertumbuhan ekonomi pada 34 provinsi di Indonesia selama kurun waktu 2015–2024. Metode kuantitatif digunakan dalam penelitian ini dengan mengolah data panel sekunder yang berasal dari BPS. Regresi data panel digunakan dalam analisis, dan Uji Chow serta Hausman menunjukkan bahwa model terbaik yang sesuai adalah Fixed Effect Model (FEM). Hasil uji t menunjukkan bahwa penduduk miskin, tingkat pengangguran terbuka, dan tenaga kerja formal berpengaruh signifikan terhadap pertumbuhan ekonomi, sedangkan Indeks Pembangunan Manusia (IPM) tidak menunjukkan pengaruh yang signifikan. Hasil uji F juga menunjukkan bahwa pengaruh simultannya juga signifikan. Dengan Adjusted R-Squared sebesar 0,232, model tersebut menjelaskan sekitar 23,245 persen variasi pertumbuhan ekonomi. Hal ini menegaskan bahwa kualitas sumber daya manusia yang semakin baik menjadi kunci dalam meningkatkan kinerja ekonomi nasional. Economic growth is a primary indicator reflecting a nation’s level of welfare and development success. In the context of Indonesia, variations in social characteristics and labor structures across provinces may influence the direction and pace of economic development. This study examines the effects of the poor population, the open unemployment rate, formal labor, and the Human Development Index (HDI) on economic growth across 34 provinces in Indonesia during the period 2015–2024. A quantitative approach was employed using secondary panel data obtained from Statistics Indonesia (BPS). Panel data regression was applied, and the results of the Chow and Hausman tests indicate that the Fixed Effect Model (FEM) is the most appropriate specification. The t-test results show that the poor population, open unemployment rate, and formal labor have significant effects on economic growth, whereas the Human Development Index (HDI) does not exhibit a significant effect. The F-test results further confirm that the variables jointly have a significant effect on economic growth. With an Adjusted R-Squared value of 0.232, the model explains approximately 23.245 percent of the variation in economic growth. These findings emphasize that improving human capital quality remains a key factor in enhancing national economic performance.
Hak Cipta (c) 2026 Doyoba Sie Pratama, Bernadette Robiani, Siti Rohima (Author) https://creativecommons.org/licenses/by/4.0
TRIPLE BOTTOM LINE IN CULTURAL EVENTS: THE GENERATION-Z PERCEPTIONS
This research examines indicators that are relevant to the Triple Bottom Line in Cultural Events based on the perceptions of Gen-Z. The phenomenon of the dominance of foreign cultures among Gen-Z society prompts the author to examine the sustainability of cultural events in Indonesia. This research was conducted using a purposive sampling approach and utilize factor analysis, with respondents being individuals born between 1995 and 2012, who were determined as Gen-Z, who have previously attended cultural events such as Bali Art Festival, Banyuwangi Ethno Carnival, Gandrung Sewu Festival, and others. Based on previous research, the triple bottom line (TBL) on cultural events has both positive and negative impacts. In this research, Gen-Z also agree that cultural events give benefits as well as some disadvantages for the local communities. They generally hold a very positive view regarding the social and economic contributions of cultural events, particularly in fostering community pride and boosting local economies. Gen-Z is concerned about potential negative impacts like littering and noise on the surrounding area. Overall, Gen-Z perceived the cultural events as promising events in the future. Still, they felt cultural events could not be a mediator for local product enhancement and environment cleanliness. It is hoped that this research could bring a contribution to further cultural festivals held by the organisers and governments in Indonesia.
Hak Cipta (c) 2025 Sukmasari Triana Gita Putri, Wayan Gede Supartha, Putu Kemala Vidyantari (Author) https://creativecommons.org/licenses/by/4.0
PARADOKS PEMBANGUNAN GENDER: PENGARUH NEGATIF TERHADAP PARTISIPASI ANGKATAN KERJA PEREMPUAN DI INDONESIA
Tingkat partisipasi angkatan kerja perempuan mempunyai peran yang sangat strategis dalam pertumbuhan dan Pembangunan ekonomi negara. Namun di Indonesia angka partisipasi angkatan kerja perempuan masih stagnan dan jauh dibawah laki-laki. Tujuan penelitian ini adalah meninjau bagaimana pengaruh pendidikan perempuan, pembangunan gender, kesehatan perempuan, pendapatan perempuan, dan ketenagakerjaan terhadap TPAKP di Indonesia. Penelitian ini menggunakan pendekatan kuantitatif melalui analisis data panel menggunakan fixed effect model dengan menggunakan data sekunder Badan Pusat Statistik (BPS) dengan periode waktu 2019-2023. Teknik analisis yang dilakukan adalah dengan melihat signifikansi pada output regresi. Hasil penelitian menunjukkan bahwa rata-rata lama sekolah perempuan, sumbangan pendapatan perempuan, dan EPR berpengaruh positif signifikan terhadap TPAKP sedangkan angka harapan hidup tidak berpengaruh signifikan terhadap TPAKP. Justru IPG berpengaruh negatif signifikan terhadap TPAKP karena tidak mencakup permasalahan sosial dan norma. Implikasi penelitian ini adalah peningkatan pemberdayaan perempuan dari segi pendidikan dan ketenagakerjaan mendorong tumbuhnya TPAKP, namun perlu diiringi dengan perbaikan kondisi sosio-ekonomi dan norma budaya. Female labor force participation plays a strategic role in national economic growth and development; however, in Indonesia, this rate remains stagnant and significantly lower than that of men. This study therefore aims to examine the influence of women's education, gender development, women's health, women's income, and the employment on the female labor force participation rate in Indonesia, employing a quantitative approach with panel data analysis and a fixed effect model on secondary data from the Central Statistics Agency (BPS) from 2019 to 2023. The findings reveal that the average years of schooling for women, women's contribution to income, and the EPR have a significant positive effect, while life expectancy has no significant effect. Conversely, the GDI exhibits a significant negative effect, which is attributed to its failure to encompass social issues and cultural norms. The implication of this study is that enhancing women's empowerment through education and employment opportunities fosters the growth of female labor force participation. However, this must be accompanied by improvements in socio-economic conditions and cultural norms.
Hak Cipta (c) 2025 Nanda Mustika Dewi, Kukuh Arisetyawan (Author) https://creativecommons.org/licenses/by/4.0
ANALISIS POTENSI EKONOMI KOTA BANDAR LAMPUNG DENGAN MENGGUNAKAN METODE LOCATION QUOTIENT DAN SHIFT SHARE
Penelitian ini bertujuan mengidentifikasi sektor unggulan (basis) dan potensi ekonomi yang menjadi penggerak utama pembangunan di Kota Bandar Lampung. Metode yang dipakai ialah analisis kuantitatif deskriptif dengan pendekatan Location Quotient (LQ) dan Shift Share, menggunakan data sekunder PDRB Kota Bandar Lampung dan Provinsi Lampung periode 2020–2024 dari Badan Pusat Statistik (BPS). Hasil analisis menunjukkan bahwa sektor dengan nilai LQ > 1, seperti industri pengolahan, perdagangan, transportasi, akomodasi, informasi, keuangan, real estate, administrasi pemerintahan, dan jasa kesehatan, menjadi pendorong utama ekonomi daerah yang didominasi oleh sektor jasa dan perdagangan. Shift Share mengindikasikan bahwa pertumbuhan ekonomi Kota Bandar Lampung masih mengikuti tren nasional dengan komponen pertumbuhan nasional (KPN) positif sebesar 37,07, namun sebagian besar sektor belum memiliki daya saing kuat di tingkat regional. Oleh karena itu, kebijakan pembangunan ke depan perlu menitikberatkan pada penguatan sektor jasa dan industri agar pertumbuhan ekonomi lebih merata dan berkelanjutan. This study aims to identify the basic sectors and economic potential that are the main drivers of development in Bandar Lampung City. The method used is quantitative descriptive analysis with the Location Quotient (LQ) and Shift Share approaches, using secondary data on the GRDP of Bandar Lampung and Lampung Province for the 2020–2024 period. from Badan Pusat Statistik Bandar Lampung (BPS). The analysis results show that sectors with an LQ value > 1, such as manufacturing, trade, transportation, accommodation, information, finance, real estate, government administration, and health services, are the main drivers of the regional economy, which is dominated by the service and trade sectors. The Shift Share analysis indicates that Bandar Lampung City's economic growth still follows the national trend with a positive national growth component (KPN) of 37.07, but most sectors do not yet have strong competitiveness at the regional level. Therefore, future development policies need to emphasize strengthening the service and industrial sectors for more equitable and sustainable economic growth.
Hak Cipta (c) 2026 Alvin Destian Ronaldi, Yopi Ayomi Afandi, Devi Fransiska Sianturi, I Wayan Suparta (Author) https://creativecommons.org/licenses/by/4.0
THE ROLE OF FIRM SIZE AND INDUSTRY SENSITIVITY AS MODERATION IN THE RELATIONSHIP BETWEEN SUSTAINABILITY AND FIRM PERFORMANCE: EVIDENCE FROM INDONESIA
The study investigates how firm size and industry sensitivity as moderators influence the relationship between sustainability and firm performance. Using a fixed effects Moderate Regression Analysis (MRA) on 1,406 firm-year observations of non-financial Indonesian public companies listed on the Indonesia Stock Exchange, that disclose sustainability information in their annual reports for the period 2010-2023, the study concludes that sustainability has a significant and positive impact on a firm's performance. However, firm size cannot moderate the relationship between sustainability and firm performance. Industry sensitivity has weaknesses in the relationship between sustainability and firm performance, which means firms are required to disclose more sustainability information due to higher risks. However, such disclosures often have a high cost and a negative impact on performance. The study supports legitimacy theory and advises regulators (like Indonesia's OJK) to implement sustainability disclosure rules gradually to avoid imposing excessive costs on firms in high-risk industries
Hak Cipta (c) 2025 Wahidatul Husnaini, Susi Retna Cahyaningtyas, Rahmi Sri Ramadhani, Baiq Elly Martiana (Author) https://creativecommons.org/licenses/by/4.0
ACCOUNTING INFORMATION SYSTEM PERFORMANCE AND ITS DETERMINANTS IN VILLAGE CREDIT INSTITUTIONS
Tujuan penelitian ini adalah untuk mengkaji bagaimana efektivitas sistem informasi akuntansi (SIA) di Lembaga Perkreditan Desa (LPD) di Kabupaten Gianyar dipengaruhi oleh budaya organisasi, pengalaman kerja, pelatihan dan pendidikan pengguna, kemampuan teknis personal, dan dukungan dari manajemen senior. Populasi penelitian ini terdiri dari 1.730 pegawai dari 254 LPD aktif yang tersebar di tujuh wilayah berbeda di Kabupaten Gianyar. Teknik pengambilan sampel acak stratifikasi proporsional digunakan untuk memilih sampel penelitian yang berjumlah 138 orang. Analisis regresi linier berganda dilakukan terhadap data tersebut. Temuan penelitian menunjukkan bahwa budaya organisasi, pengalaman kerja, dukungan dari manajemen atas, dan keterampilan teknis personal semuanya berdampak signifikan dan positif terhadap kinerja SIA. Sebagai perbandingan, efektivitas SIA tidak terlalu dipengaruhi oleh program pendidikan dan pelatihan pengguna. Hasil ini menunjukkan bahwa pengalaman kerja, dukungan dari organisasi, budaya yang kondusif, dan keterampilan teknis sangat penting untuk meningkatkan efisiensi sistem informasi akuntansi. Namun, program pelatihan formal belum memberikan pengaruh yang signifikan terhadap kinerja sistem ini. Dengan berfokus pada faktor-faktor internal yang relevan, penelitian ini menawarkan panduan berharga bagi manajemen LPD untuk meningkatkan kinerja AIS. The purpose of this research is to assess how the effectiveness of the accounting information system (AIS) at Village Credit Institutions (LPDs) in Gianyar Regency is influenced by organizational culture, work experience, user training and education, personal technical abilities, and support from senior management. The research group comprises all 1,730 employees from the 254 active LPDs spread across seven different areas in Gianyar Regency. A technique known as proportionate stratified random sampling was utilized to select a research sample of 138 individuals. Multiple linear regression analysis was conducted on the data. The findings indicate that organizational culture, work experience, backing from upper management, and personal technical skills all significantly and positively impact the performance of the AIS. This indicates that the performance of the AIS improves as these four factors improve. In comparison, the effectiveness of AIS is not significantly affected by user education and training programs. These results suggest that work experience, organizational support, a conducive culture, and technical skills are crucial for improving the efficiency of accounting information systems. However, formal training programs have not yet significantly influenced the performance of these systems. By focusing on relevant internal factors, this research offers valuable guidance for LPD management to improve AIS performance.
Hak Cipta (c) 2025 Ida Ayu Ratih Manuari, I Gede Cahyadi Putra (Author) https://creativecommons.org/licenses/by/4.0
IS MOBILE PHONE BAD FOR KIDS? EVIDENCE FROM THE INDONESIAN FAMILY LIFE SURVEY
Over the past decade, the use of mobile phones among children has become increasingly prevalent, extending even to those from lower socioeconomic backgrounds. This trend has prompted growing concern regarding the potential adverse effects of mobile phone use on children’s development and well-being. This study aims to provide empirical evidence of the effect of phone ownership and usage among school-age children under 15 years old on their cognitive ability. The primary dataset used in this study is the fifth wave of the Indonesian Family Life Survey (IFLS). To estimate causal relationships, this study employs household fixed effects and an instrumental variable (IV) approach to address selection bias and other sources of endogeneity. The results indicate that, after controlling for household fixed effects, this study does not find statistically significant associations between mobile phone ownership or usage among children and cognitive outcomes, as measured by fluid and crystallized intelligence. The instrumental variable estimates also fail to detect a statistically significant causal effect.
Hak Cipta (c) 2025 Esa Azali Asyahid (Author) https://creativecommons.org/licenses/by/4.0
MENGUJI LSQ PADA BOPS BOSD PRODUK PORTABEL: DAMPAKNYA TERHADAP KEPUASAN, LOYALITAS, NIAT PATRONASE
Penelitian ini menganalisis pengaruh elemen Logistics Service Quality (LSQ)—timeliness, availability, condition, dan return)—terhadap customer satisfaction, customer loyalty, serta patronage intention dalam dua skenario omnichannel di Indonesia, yakni BOPS (buy-online-pickup-in-store) dan BOSD (buy-online-ship-direct) untuk kategori produk portabel. Penelitian bersifat kuantitatif dengan survei terhadap 334 konsumen yang memiliki pengalaman BOPS/BOSD. Data diolah dengan metode PLS-SEM dengan software SmartPLS 3. Hasil penelitian menunjukkan keempat elemen LSQ meningkatkan customer satisfaction di kedua skenario. Pada BOPS, timeliness dan condition berpengaruh positif terhadap customer loyalty, sedangkan availability dan return tidak berpengaruh langsung. Pada BOSD, condition dan return berpengaruh positif terhadap customer loyalty, sementara timeliness dan availability tidak berpengaruh. Customer satisfaction berpengaruh positif terhadap customer loyalty dan patronage intention di kedua skenario. Kebaruan studi terletak pada fokus dua skenario yang relevan untuk kategori produk portabel dan penambahan variabel patronage intention yang dipicu oleh customer satisfaction. Peritel diharapkan dapat memprioritaskan akurasi stok dan “ready-for-pickup” pada BOPS serta kualitas last-mile dan retur pada skenario BOSD. This study analyzes the effects of Logistics Service Quality (LSQ) elements—timeliness, availability, condition, and return—on customer satisfaction, customer loyalty, and patronage intention across two omnichannel scenarios in Indonesia: BOPS (buy online, pickup in store) and BOSD (buy online, ship direct) for portable products. This quantitative study surveyed 334 consumers who had experience with BOPS/BOSD. Data were analyzed using PLS-SEM with SmartPLS 3. The results show that all four LSQ elements increase customer satisfaction in both scenarios. In BOPS, timeliness and condition positively affect customer loyalty, whereas availability and return have no direct effect. In BOSD, condition and return have a positive effect on customer loyalty, while timeliness and availability have no effect. Customer satisfaction positively affects customer loyalty and patronage intention in both scenarios. The novelty of this study lies in its focus on two scenarios relevant to the portable product category and the addition of the patronage intention variable triggered by customer satisfaction. Retailers are expected to prioritize stock accuracy and “ready-for-pickup” in BOPS and last-mile quality and return in the BOSD scenario.
Hak Cipta (c) 2025 Kezia Trifena, Fitri Novika Widjaja, Juliani Dyah Trisnawati (Author) https://creativecommons.org/licenses/by/4.0
PERAN CUSTOMER ENGAGEMENT SEBAGAI MEDIATOR SOCIAL MEDIA MARKETING DAN CONTENT MARKETING TERHADAP BRAND AWARENESS
Media sosial menjadi alat penting dalam strategi pemasaran digital, termasuk di sektor pendidikan seperti Telkom University Purwokerto. Studi ini menganalisis pengaruh social media marketing dan content marketing terhadap brand awareness dengan customer engagement sebagai mediator. Menggunakan pendekatan kuantitatif dan teknik purposive sampling, sebanyak 155 mahasiswa angkatan 2024 pengikut akun Instagram @smbtelkom.purwokerto dijadikan responden. Data dianalisis dengan Partial Least Squares (PLS) melalui SmartPLS 4. Hasil menunjukkan social media marketing mempunyai pengaruh signifikan terhadap brand awareness dan customer engagement. Sementara itu, content marketing hanya mempunyai pengaruh terhadap customer engagement. Customer engagement memediasi pengaruh content marketing terhadap brand awareness, namun tidak pada social media marketing. Berbeda dari studi sebelumnya yang dominan di sektor komersial, penelitian ini memberikan kontribusi dalam konteks pendidikan. Implikasinya adalah pentingnya optimalisasi konten dan interaksi digital. Keterbatasan penelitian ini terletak pada fokus platform Instagram dan jumlah responden, sehingga disarankan penelitian selanjutnya mencakup platform lain dan menambahkan variabel seperti brand trust atau e-WOM. Social media is becoming an important tool in digital marketing strategies, including in the education sector such as Telkom University Purwokerto. This study analyzes the effect of social media marketing and content marketing on brand awareness with customer engagement as a mediator. Using a quantitative approach and purposive sampling technique, 155 students of class 2024 followers of the Instagram account @smbtelkom.purwokerto were used as respondents. The data were analyzed with Partial Least Squares (PLS) through SmartPLS 4. The results show that social media marketing has a significant influence on brand awareness and customer engagement. Meanwhile, content marketing only has an influence on customer engagement. Customer engagement mediates the effect of content marketing to brand awareness, but not social media marketing. Different from previous studies that are dominant in the commercial sector, this research contributes in the context of education. The implication is the importance of content optimization and digital interaction. The limitations of this study lie in the focus of the Instagram platform and the number of respondents, so it is recommended that future research include other platforms and add variables such as brand trust or e-WOM.
Hak Cipta (c) 2026 Rifqi Zainul Muttaqin, Muhammad Eka Purbaya, Yosita Dwiani Suryaningtiyas (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH TUNTUTAN PEKERJAAN DAN STRES KERJA TERHADAP KESEJAHTERAAN PSIKOLOGIS KARYAWAN GEN Z DIMEDIASI DUKUNGAN SOSIAL
Penelitian ini bertujuan untuk menganalisis pengaruh tuntutan pekerjaan dan stres kerja terhadap kesejahteraan psikologis karyawan Generasi Z di PT Forisa Nusapersada dengan mempertimbangkan peran mediasi dukungan sosial. Karyawan Generasi Z cenderung rentan terhadap tekanan kerja yang tinggi, sehingga berpotensi mengalami stres dan penurunan kesejahteraan psikologis. Penelitian ini menggunakan pendekatan kuantitatif melalui survei kuesioner terhadap 275 responden yang dipilih secara acak. Analisis data dilakukan menggunakan metode Structural Equation Modeling–Partial Least Square (SEM-PLS) dengan bantuan perangkat lunak SmartPLS 4. Hasil penelitian menunjukkan bahwa tuntutan pekerjaan dan stres kerja berpengaruh negatif signifikan terhadap kesejahteraan psikologis, sementara dukungan sosial berpengaruh positif signifikan terhadap kesejahteraan psikologis. Selain itu, dukungan sosial terbukti memediasi pengaruh negatif tuntutan pekerjaan dan stres kerja terhadap kesejahteraan psikologis. Penelitian ini memperkaya kajian tentang kesejahteraan psikologis karyawan Generasi Z melalui pengujian peran dukungan sosial sebagai variabel mediasi. Temuan penelitian ini dapat menjadi dasar bagi organisasi dalam merancang kebijakan dan strategi manajemen sumber daya manusia yang berorientasi pada penguatan dukungan sosial guna menjaga kesehatan mental karyawan di tengah tuntutan kerja yang tinggi. This study aims to analyze the effects of job demands and work stress on the psychological well-being of Generation Z employees at PT Forisa Nusapersada, considering the mediating role of social support. Generation Z employees tend to be more vulnerable to high work pressure, which may lead to increased stress and a decline in psychological well-being. This study employs a quantitative approach using a questionnaire survey administered to 275 randomly selected respondents. Data analysis was conducted using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method with the assistance of SmartPLS 4 software. The results indicate that job demands and work stress have a significant negative effect on psychological well-being, while social support has a significant positive effect on psychological well-being. In addition, social support is proven to mediate the negative effects of job demands and work stress on psychological well-being. This study enriching the literature on the psychological well-being of Generation Z employees through examining social support as a mediating variable. Practically, the findings provide a basis for organizations to design human resource policies and strategies that emphasize strengthening social support to maintain employees’ mental health amid high job demands.
Hak Cipta (c) 2025 Michael Raynold Yan, Praningrum (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH SOCIAL MEDIA ENVIRONMENTAL FACTORS TERHADAP VISIT INTENTION PANTAI PANGANDARAN DENGAN DESTINATION ENVY SEBAGAI MEDIASI
Penelitian ini bertujuan untuk menganalisis pengaruh Electronic Word of Mouth (E-WoM), Subjective norm, dan Visibility terhadap Visit Intention yang dimediasi oleh Destination envy pada destinasi wisata alam Pantai Pangandaran. Penelitian ini menggunakan metode survei dengan pendekatan kuantitatif, melalui penyebaran kuesioner kepada 220 responden yang merupakan pengguna aktif media sosial di Pulau Jawa, dengan teknik purposive sampling. Data dianalisis menggunakan Structural Equation Modeling (SEM) dengan bantuan software AMOS. Hasil penelitian secara teoritis menunjukkan bahwa E-WoM, Subjective norm, dan Visibility berpengaruh positif terhadap Destination envy, serta Destination envy berpengaruh positif terhadap Visit Intention. Secara praktis, temuan ini mengindikasikan bahwa strategi pemasaran destinasi wisata melalui media sosial perlu mempertimbangkan faktor-faktor tersebut untuk menciptakan rasa envy positif yang mendorong minat kunjungan wisatawan. Implikasi penelitian ini dapat dimanfaatkan oleh pengelola destinasi wisata dan pelaku industri pariwisata dalam merancang kampanye pemasaran yang lebih efektif berbasis media sosial. This study aims to analyze the influence of Electronic Word of Mouth (E-WoM), Subjective norm, and Visibility on Visit Intention, mediated by Destination envy, at the Pangandaran beach nature tourism destination. A quantitative survey method was employed by distributing questionnaires to 220 respondents who are active social media users in Java Island, using purposive sampling. The data were analyzed using Structural Equation Modeling (SEM) with the AMOS software. The theoretical findings show that E-WoM, Subjective norm, and Visibility have a positive effect on Destination envy, and Destination envy positively influences Visit Intention. From a practical perspective, these findings suggest that tourism destination marketing strategies through social media should consider these factors to generate positive envy that encourages tourists' visit intention. The implications of this study can be utilized by tourism destination managers and industry practitioners in designing more effective social media-based marketing campaigns.
Hak Cipta (c) 2025 Alvi Musyaropah, Lucky Radi Rinandiyana, Allicia Deana Santosa (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH PENGELOLAAN KEUANGAN, GAYA HIDUP, DAN MEDIA SOSIAL TERHADAP KEPUTUSAN PENGGUNAAN PAYLATER PADA GENERASI SANDWICH
Penelitian bertujuan mengeksplorasi faktor-faktor yang memengaruhi keputusan penggunaan paylater seperti pengelolaan keuangan, gaya hidup, dan media sosial pada generasi sandwich di Kota Mataram. Penelitian mempertimbangan generasi sandwich sebagai target pasar penggunaan paylater karena memiliki daya beli yang relatif tinggi akibat tekanan finansial ganda. Pendekatan kuantitatif digunakan melalui kuesioner yang melibatkan 302 responden generasi sandwich di Kota Mataram. Data dianalisis menggunakan PLS-SEM pada SmartPLS 4.1.0.9 melalui pengujian model pengukuran dan pengujian model struktural untuk menguji pengaruh antar variabel. Hasil penelitian menunjukkan pengelolaan keuangan tidak berpengaruh terhadap keputusan penggunaan paylater karena generasi sandwich cenderung memiliki kontrol perilaku rendah untuk pengeluaran jangka pendek. Dorongan memenuhi kebutuhan membuat generasi sandwich lebih rentan dalam mengambil keputusan finansial tanpa mempertimbangkan pengelolaan keuangan secara menyeluruh. Sebaliknya, gaya hidup yang didorong oleh ekspektasi sosial maupun kebutuhan emosional memengaruhi keputusan generasi sandwich untuk menggunakan paylater. Media sosial memiliki pengaruh terbesar terhadap keputusan generasi sandwich menggunakan paylater melalui paparan informasi yang tersedia. The research aims to explore the factors that influence the decision to use paylater such as financial management, lifestyle, and social media in the sandwich generation in Mataram City. The research considers the role of the sandwich generation as the target market for using paylater because they have relatively high purchasing power due to multiple financial pressures. A quantitative approach was used with data collection techniques through questionnaires involving 302 sandwich generation respondents in Mataram City. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.1.0.9 software through measurement model testing and structural model testing to test the influence between variables. The results showed that financial management had no effect on the decision to use Paylater. The sandwich generation tends to have low behavioural control over short-term spending due to the urge to meet daily needs or urgent needs. Conversely, a lifestyle driven by social expectations and emotional needs of the sandwich generation's decision to use paylater. Social media has the greatest influence on the decision to use paylater through exposure to available information.
Anak Agung Ngurah Agung Adi Rama Putra Dalem
Hak Cipta (c) 2025 Anak Agung Ngurah Agung Adi Rama Putra Dalem, Nurabiah (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH AKUNTANSI MANAJEMEN LINGKUNGAN, KINERJA LINGKUNGAN DAN PENGUNGKAPAN LINGKUNGAN TERHADAP NILAI PERUSAHAAN
Kesadaran lingkungan meningkat akibat perubahan iklim, polusi, dan keterbatasan sumber daya, sementara Akuntansi Manajemen Lingkungan (AML) membantu perusahaan mengelola dampak ekologis, meningkatkan transparansi, dan membangun kepercayaan investor dengan pengaruh yang bervariasi terhadap nilai perusahaan. Penelitian ini menganalisis hubungan antara AML, kinerja lingkungan, dan pengungkapan lingkungan terhadap nilai perusahaan. Penelitian ini menyasar perusahaan, pemerintah, investor, dan masyarakat dalam mendukung keberlanjutan lingkungan melalui AML, regulasi, transparansi, dan praktik bisnis hijau. Penelitian ini menggunakan metode kuantitatif dengan sampel sebanyak 192 laporan keuangan dari perusahaan yang terdaftar di Bursa Efek Indonesia (BEI) pada sector basic material. Analisis data dilakukan menggunakan statistik deskriptif dan diuji dengan program SPSS. Hasil analisis menunjukkan bahwa AML, kinerja lingkungan, dan pengungkapan lingkungan berpengaruh signifikan terhadap nilai perusahaan. AML memiliki dampak positif, kinerja lingkungan berkontribusi pada peningkatan nilai perusahaan, dan pengungkapan lingkungan memperkuat transparansi serta daya saing perusahaan. Manajer perlu mengelola investasi AML secara efisien dengan strategi perusahaan untuk meningkatkan kepercayaan investor. Environmental awareness has increased due to climate change, pollution, and limited resources. In response, Environmental Management Accounting (EMA) helps companies manage ecological impacts, enhance transparency, and build investor trust, each with varying effects on firm value. This study analyzes the relationship between EMA, environmental performance, and environmental disclosure on firm value. It targets companies, government institutions, investors, and the public in supporting environmental sustainability through EMA, regulations, transparency, and green business practices. A quantitative approach was employed using a sample of 192 financial reports from companies listed on the Indonesia Stock Exchange (IDX) in the basic materials sector. Data analysis was conducted using descriptive statistics and tested with the SPSS program. The results indicate that EMA, environmental performance, and environmental disclosure have a significant effect on firm value. EMA has a positive impact, environmental performance contributes to the enhancement of firm value, and environmental disclosure strengthens transparency and corporate competitiveness. Managers are encouraged to manage EMA investments efficiently through corporate strategies to increase investor trust.
Hak Cipta (c) 2025 Amarylis Imana Putri, R. Rosiyana Dewi (Author) https://creativecommons.org/licenses/by/4.0
FINANCIAL STATEMENT FRAUD DALAM PERSPEKTIF FRAUD HEXAGON PADA PERUSAHAAN SEKTOR TRANSPORTASI DAN LOGISTIK DI BEI
Penelitian ini bertujuan untuk mengkaji secara empiris pengaruh pressure, rationalization, opportunity, capability, ego, dan collusion pada financial statement fraud. Sampel pada penelitian ini adalah perusahaan sektor transportasi dan logistik yang terdaftar di BEI pada periode 2020-2023. Metode penentuan sampel dalam penelitian ini adalah non-probability sampling dan adapun teknik penarikan sampel adalah purposive sampling, dengan 104 observasi. Analisis data penelitian menggunakan analisis regresi linier berganda. Berdasarkan hasil analisis dapat diperoleh simpulan bahwa rationalization berpengaruh positif pada financial statement fraud, sedangkan pressure, opportunity, capability, ego, serta collusion tidak berpengaruh pada financial statement fraud. Penelitian ini memberikan bukti secara empiris mengenai teori fraud hexagon dalam mengidentifikasi faktor-faktor yang mempengaruhi seseorang dalam melakukan tindakan fraud, terutama financial statement fraud. Implikasi dari penelitian ini adalah peningkatan strategi pengawasan internal untuk perusahaan sektor transportasi dan logistik sehingga dapat mengambil langkah-langkah preventif yang tepat dan efektif dalam mencegah tindakan fraud. This study aims to examine empirically the effect of pressure, rationalization, opportunity, capability, ego, and collusion on financial statement fraud. The sample in this study is transportation and logistic sector companies listed on the Indonesia Stock Exchange in 2020-2023. The method of determining the sample in this study is non-probability sampling with sampling techniques using purposive sampling, with a total sample of 26 companies with 104 observations. Data analysis using multiple linear regression analysis. The research findings indicate that rationalization has a positive effect on financial statement fraud, pressure has no effect on financial statement fraud, opportunity has no effect on financial statement fraud, capability has no effect on financial statement fraud, ego has no effect on financial statement fraud, and collusion has no effect on financial statement fraud. This research provides empirical evidence regarding the fraud hexagon theory in identifying factors that influence a person in committing fraud, especially financial statement fraud. The implication of this research is an increase in internal control strategies for transportation and logistics sector companies so that they can take appropriate and effective preventive measures in preventing fraud.
Hak Cipta (c) 2025 Putu Melia Utami Putri, Ni Made Dwi Ratnadi, I Ketut Suryanawa, Ni Ketut Rasmini (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH SANKSI, MORAL DAN PEMAHAMAN PAJAK TERHADAP KEPATUHAN: MODERASI GENDER PADA SANKSI
Pajak merupakan pendapatan negara terbesar dan menjadi isntrumen dalam mewujudkan kemandirian fiskal. Tingkat penerimaan pajak sangat bergantung pada kepatuhan wajib pajak. Penelitian ini bertujuan untuk menguji sanksi pajak, moral pajak, dan pemahaman pajak yang berkaitan dengan kepatuhan menjadi fokus riset ini. Lebih jauh, riset ini menyelidiki apakah gender memiliki peran dalam meningkatkan atau mengurangi korelasi antara denda pajak dan kepatuhan pajak. Seratus partisipan, dipilih secara acak dengan memakai metode sampling insidental, berpartisipasi dalam riset ini di KPP Pratama Tabanan. Analisis Regresi Moderasi (MRA) dipakai untuk memeriksa data yang dikumpulkan. Riset ini menemukan yaitu denda pajak, moral pajak, dan pengetahuan pajak semuanya berkontribusi pada kepatuhan pajak yang lebih tinggi. Pada saat yang sama, tidak ada bukti bahwa gender memoderasi korelasi antara denda pajak dan kepatuhan. Temuan ini menunjukan bahwa faktor internal (seperti moral pajak dan pemahaman) maupun faktor eksternal (seperti sanksi) sama-sama penting dalam meningkatkan kepatuhan wajib pajak. Riset ini menambah pemahaman kita tentang faktor-faktor yang memengaruhi kecenderungan orang untuk membayar pajak yang wajar dan memberikan rekomendasi bagi kebijakan perpajakan yang lebih efektif. Taxes are the largest source of state revenue and serve as an instrument to achieve fiscal independence. The level of tax revenue heavily depends on taxpayer compliance. This research aims to examine tax penalties, tax morale, and tax knowledge in relation to tax compliance. Furthermore, this study investigates whether gender plays a role in strengthening or weakening the correlation between tax penalties and tax compliance. One hundred participants, selected randomly using incidental sampling, took part in this study at KPP Pratama Tabanan. Moderated Regression Analysis (MRA) was used to analyze the collected data. The study found that tax penalties, tax morale, and tax knowledge all contribute to higher tax compliance. At the same time, there is no evidence that gender moderates the correlation between tax penalties and compliance. These findings indicate that both internal factors (such as tax morale and knowledge) and external factors (such as sanctions) are equally important in improving taxpayer compliance. This research enhances our understanding of the factors that influence people's tendency to pay taxes fairly and provides recommendations for more effective tax policies.
Hak Cipta (c) 2025 I.A. Pt. Wahyu Sri Saraswati, I Ketut Jati (Author) https://creativecommons.org/licenses/by/4.0
THE INFLUENCE OF SOCIAL MEDIA ON GEN Z INVESTMENT DECISIONS IN APPLICATION-BASED CAPITAL MARKETS
This study examines the influence of social media on Gen Z’s investment decisions in the Indonesian application-based capital market, with Intention of Use as an intervening variable. Utilising a quantitative research approach, the data were analysed using Structural Equation Modelling (SEM) with Partial Least Squares (PLS) analysis. The independent variables include Perceived Usefulness, Perceived Ease of Use, Perceived Risk, and Investment Knowledge, while the dependent variable is Investment Decisions, which are mediated by Intention to Use. The findings reveal that Intention of Use significantly impacts Gen Z’s investment decisions. Additionally, Perceived Usefulness, Perceived Ease of Use, and Investment Knowledge positively influence both investment decisions and the intention to use social media. Conversely, Perceived Risk has no significant effect on investment decisions or the intention to use social media. These results highlight the importance of social media as a strategic marketing tool for investment application developers. Developers are advised to focus on enhancing user experience and providing educational content to foster trust and knowledge, ultimately increasing Gen Z’s engagement and investment decisions in the application-based capital market.
Hak Cipta (c) 2025 Elok Maziyah (Author) https://creativecommons.org/licenses/by/4.0
DOES DIVIDEND POLICY MEDIATE THE EFFECT OF FINANCIAL PERFORMANCE AND CAPITAL STRUCTURE ON FIRM VALUE?
A company's dividend policy is a crucial element that influences financial performance and capital structure on firm value. This study builds on earlier research by analyzing the function of dividend policy as a mediator between financial performance, capital structure and firm value, with a focus on stocks included in the ISSI Index. This research aims to examine whether dividend policy serves as a mediating variable in the relationship between financial performance, capital structure and firm value among manufacturing firms listed on the ISSI Index. This quantitative study utilized a sample of 425 observations from manufacturing companies on the ISSI Index during the 2019–2023 period. The PLS-SEM position was employed in regression analysis. Profitability (ROA), liquidity (CR), leverage (DER), and capital structure (DAR) seemed amid the independent variables this were studied. Firm value was measured by Tobin’s Q and PBV as dependent variables, while dividend policy (DPR) served as the mediating variable. It was found that profitability and capital structure contribute positively to firm value, as measured by Tobin’s Q and PBV, whereas liquidity has a negative impact. Leverage only affects firm value when PBV is used as a proxy. Also, this study demonstrates that the relationship between profitability, liquidity, leverage, and capital structure on firm value (Tobin’s Q and PBV) is significantly mediated by dividend policy. By strengthening and extending the bird-in-the-hand theory, this research offers a theoretical contribution by highlighting the importance of dividend payouts in enhancing firm value, particularly for manufacturing companies listed on the ISSI Index.
Hak Cipta (c) 2025 Reza Septiana Wibowo, Tarsisius Renald Suganda, Daniel Sugama Stephanus (Author) https://creativecommons.org/licenses/by/4.0
INFLUENCE OF LITERACY, ATTITUDE, AND INTENTION ON STUDENT FINANCIAL BEHAVIOR
This study examines the influence of financial literacy and financial attitude on the financial management behavior of Generation Z students in Bengkulu and North Sumatra, with behavioral intention serving as a mediating variable. Using the Theory of Planned Behavior (TPB) as a framework, the study employed a quantitative, cross-sectional survey involving 271 purposively selected students. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM).The findings reveal that financial attitude has a significant direct effect on financial management behavior, while financial literacy does not directly influence behavior. However, both financial literacy and financial attitude significantly affect behavioral intention, which in turn positively influences financial management behavior. Additionally, behavioral intention mediates the relationship between financial literacy and behavior, as well as between financial attitude and behavior. These results highlight the importance of behavioral intention as a key pathway through which financial literacy and attitudes shape actual financial practices. Therefore, financial education initiatives should not only focus on increasing knowledge but also on fostering positive financial attitudes and strengthening students’ intentions to manage finances responsibly. Integrating motivational components and practical applications into financial education programs can enhance students’ ability to translate knowledge and attitudes into consistent financial behavior. This has important implications for educators and policymakers aiming to improve financial well-being among youth in Indonesia.
Hak Cipta (c) 2025 Dias Agustin Banurea, Berto Usman (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH KUALITAS RANGKA eSAF TERHADAP CITRA MEREK SERTA DAMPAKNYA PADA MINAT BELI ULANG MOTOR MATIC HONDA
PT Astra Honda Motor (AHM) merupakan pelopor yang memproduksi sepeda motor di Indonesia. Salah satu rangka yang digunakan pada motor matic Honda yaitu rangka eSAF. Rangka eSAF merupakan struktur sepeda motor Honda yang baru diaplikasikan sejak tahun 2019. Rangka eSAF motor Honda menjadi perhatian karena disebut mudah mengalami karatan yang mengakibatkan cepat keropos dan patah. Penelitian ini bertujuan untuk mengetahui pengaruh dari kualitas rangka eSAF terhadap citra merek serta dampaknya pada minat beli ulang motor matic Honda. Analisis data yang digunakan yaitu analisis jalur dengan purposive sampling dan jumlah sampel sebanyak 105 responden yang berdomisili di Jabodetabek. Hasil penelitian menunjukkan bahwa 1) Kualitas rangka eSAF berpengaruh terhadap citra merek, 2) Kualitas rangka eSAF berpengaruh terhadap minat beli ulang, 3) Citra merek tidak berpengaruh terhadap minat beli ulang, 4) Kualitas rangka eSAF dan citra merek secara simultan berpengaruh terhadap minat beli ulang, 5) Tidak terdapat pengaruh tidak langsung antara kualitas rangka eSAF terhadap minat beli ulang melalui citra merek. Rekomendasi penelitian ini secara umum yaitu AHM diharapkan senantiasa menjaga atau memberikan kualitas rangka eSAF yang baik agar dapat mempertahankan citra merek Honda yang sudah dibangun. PT Astra Honda Motor (AHM) is a pioneer in producing motorcycles in Indonesia. One of the frames used in Honda's automatic motorbikes is the eSAF frame. The eSAF frame is a Honda motorcycle structure that has only been applied since 2019. The Honda motorcycle eSAF frame is a concern because it is said to be easy to experience rust which results in rapid loss and fracture. This study aims to determine the effect of eSAF frame quality on brand image and its impact on repurchase interest in Honda automatic motorbikes. The data analysis used is path analysis with purposive sampling and a sample size of 105 respondents who live in Jabodetabek. The results showed that 1) eSAF frame quality affects brand image, 2) eSAF frame quality affects repurchase intention, 3) Brand image has no effect on repurchase intention, 4) eSAF frame quality and brand image simultaneously affect repurchase intention, 5) There is no indirect influence between eSAF frame quality on repurchase intention through brand image. The recommendation of this study in general is that AHM is expected to always maintain or provide good eSAF frame quality in order to maintain the Honda brand image that has been built.
Hak Cipta (c) 2025 Desi Ramadina, Muniaty Aisyah (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH PROFITABILITAS, LEVERAGE, TEKANAN INVESTOR DAN KEPEMILIKAN MANAJERIAL PADA KUALITAS PENGUNGKAPAN DALAM SUSTAINABILITY REPORT
Kualitas pengungkapan dalam sustainability report mencerminkan sejauh mana informasi keberlanjutan disajikan secara transparan, akurat, relevan, dan dapat dibandingkan sehingga mampu memenuhi kebutuhan para stakeholder akan informasi non-keuangan perusahaan. Penelitian ini menguji secara empiris pengaruh profitabilitas, leverage, tekanan investor, dan kepemilikan manajerial terhadap kualitas pengungkapan dalam sustainability report. Sampel pada penelitian adalah perusahaan sektor manufaktur yang menerbitkan sustainability report yang terdaftar di Bursa Efek Indonesia pada periode 2019 dan 2021-2023. Pada penelitian ini, penulis menggunakan metode penentuan sampel yaitu purposive sampling sebanyak 130 observasi. Analisis data menggunakan analisis regresi linier berganda. Berdasarkan hasil analisis data dapat diperoleh simpulan bahwa profitabilitas berpengaruh positif pada kualitas pengungkapan dalam sustainability report. Leverage, tekanan investor, dan kepemilikan manajerial tidak berpengaruh pada kualitas pengungkapan dalam sustainability report. Implikasi penelitian ini adalah peningkatan profitabilitas dapat mendorong perusahaan untuk meningkatkan kualitas pengungkapan dalam sustainability report yang bertujuan untuk memenuhi ekspektasi konsumen yang pada akhirnya akan sangat berpengaruh pada profitabilitas. The quality of disclosure in sustainability reports reflects the extent to which sustainability information is presented in a transparent, accurate, relevant, and comparable manner, thereby fulfilling stakeholders' needs for non-financial corporate information. This study empirically examines the influence of profitability, leverage, investor pressure, and managerial ownership on the quality of sustainability report disclosures. The sample consists of manufacturing sector companies listed on the Indonesia Stock Exchange that published sustainability reports during the years 2019 and 2021–2023. Using a purposive sampling method, a total of 130 observations were obtained. Data analysis was conducted using multiple linear regression. The results indicate that profitability has a positive effect on the quality of sustainability report disclosures. In contrast, leverage, investor pressure, and managerial ownership do not significantly affect disclosure quality. The implication of this study is that improved profitability can encourage companies to enhance the quality of their sustainability report disclosures in order to meet stakeholders’ expectations regarding transparency and accountability, especially from consumers who significantly influence profitability.
Hak Cipta (c) 2025 Gede Galan Dhira Mahesana, Ni Made Dwi Ratnadi (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH KOMISARIS INDEPENDEN, KOMITE AUDIT, LEVERAGE, DAN UKURAN PERUSAHAAN PADA INTEGRITAS LAPORAN KEUANGAN
Integritas laporan keuangan yaitu laporan yang jujur dan benar yang dapat dipertanggungjawabkan kepada stakeholder. Berdasarkan teori agensi, konflik prinsipal dan agen diminimalisir melalui pengawasan yang efektif. Penelitian ini bertujuan untuk mengetahui dan mendapatkan bukti empiris tentang pengaruh komisaris independen, komite audit, leverage, dan ukuran perusahaan pada integritas laporan keuangan. Studi ini dilakukan pada seluruh emiten sektor manufaktur yang terdaftar di BEI periode 2023-2024 dengan jumlah 213 emiten. Sampel dipilih dengan teknik purposive sampling serta terdapat 22 data outlier sehingga jumlah data sebanyak 202 amatan. Analisis data dengan analisis regresi linear berganda melalui SPSS. Hasil analisis menunjukkan komisaris independen dan komite audit tidak memiliki pengaruh signifikan, leverage berpengaruh positif signifikan, dan ukuran perusahaan berpengaruh negatif signifikan. Nilai Adjusted R² sebesar 0,08, sehingga penelitian selanjutnya disarankan untuk meneliti variabel lain seperti kualitas audit dan kepemilikan manajerial serta memperpanjang periode penelitian. Hasil penelitian ini menekankan pentingnya kualitas pengawasan internal dan struktur perusahaan yang memadai. Financial statement integrity refers to the honest and accurate presentation of financial information that is accountable to stakeholders. Based on agency theory, conflicts between principals and agents can be reduced through effective oversight. This study aims to examine and provide empirical evidence on the effects of independent commissioners, audit committees, leverage, and company size on the integrity of financial statements. The research was conducted on 213 manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2023–2024 period. A purposive sampling technique was applied, and after excluding 22 outliers, 202 observations were analyzed. Data were processed using multiple linear regression via SPSS. The results show that independent commissioners and audit committees have no significant effect, while leverage positively affects and company size negatively affects financial statement integrity. The Adjusted R² value is 0.08, so further research is recommended to examine other variables such as audit quality and managerial ownership and extend the research period. The findings highlight the importance of effective internal controls and a balanced organizational structure.
Hak Cipta (c) 2025 Putu Nanda Wisma Yanti, Anak Agung Ngurah Agung Kresnandra (Author) https://creativecommons.org/licenses/by/4.0
ANALISIS PENGARUH DBH, DAU, DAK TERHADAP PDRB ADHK 2010 DI KABUPATEN/KOTA PROVINSI NTB TAHUN 2011–2024
Penelitian ini menganalisis pengaruh Dana Bagi Hasil (DBH), Dana Alokasi Umum (DAU), dan Dana Alokasi Khusus (DAK) terhadap Produk Domestik Regional Bruto (PDRB) ADHK 2010 pada kabupaten/kota di Provinsi Nusa Tenggara Barat (NTB) periode 2011–2024. Provinsi NTB dipilih karena memiliki tingkat ketergantungan fiskal yang tinggi terhadap dana perimbangan pusat serta masih menghadapi disparitas pertumbuhan ekonomi antardaerah. Kondisi tersebut menjadikan NTB sebagai konteks empiris yang relevan untuk menguji efektivitas transfer fiskal dalam mendorong kinerja ekonomi regional. Penelitian ini menggunakan regresi data panel dengan pendekatan Fixed Effect Model terhadap 140 observasi. Hasil penelitian menunjukkan bahwa DBH, DAU, dan DAK berpengaruh positif dan signifikan terhadap PDRB. Temuan ini mengindikasikan bahwa dana perimbangan berperan tidak hanya sebagai instrumen pemerataan fiskal, tetapi juga sebagai faktor penggerak pertumbuhan ekonomi daerah. Kontribusi ilmiah penelitian ini terletak pada penyediaan bukti empiris jangka panjang mengenai peran transfer fiskal di provinsi berkembang, sekaligus memperkaya literatur desentralisasi fiskal di Indonesia. This study examines the impact of Revenue Sharing Fund (DBH), General Allocation Fund (DAU), and Special Allocation Fund (DAK) on Gross Regional Domestic Product (GRDP) at constant 2010 prices across regencies/cities in West Nusa Tenggara (NTB) Province during the period 2011–2024. NTB was selected as the study area due to its relatively high fiscal dependence on central government transfers and the persistent disparities in economic growth among its districts. These characteristics make NTB a relevant empirical context for evaluating the effectiveness of intergovernmental fiscal transfers in promoting regional economic performance. Panel data regression with a Fixed Effect Model was employed using 140 observations. The results indicate that DBH, DAU, and DAK have positive and statistically significant effects on GRDP. These findings suggest that fiscal transfers function not only as instruments of fiscal equalization but also as key drivers of regional economic growth when allocated productively. The scientific contribution of this study lies in providing long-term empirical evidence on the role of intergovernmental transfers in a developing province, thereby enriching the literature on fiscal decentralization in Indonesia.
Hak Cipta (c) 2026 Nia Oktaviana, Baiq Saripta Wijimulawiani, Muhammad Dzul Fadlli (Author) https://creativecommons.org/licenses/by/4.0
PENGARUH KINERJA KEUANGAN TERHADAP KESEJAHTERAAN MASYARAKAT PEMERINTAH DAERAH KOTA DAN KABUPATEN DI PROVINSI JAWA TENGAH
Peran pemerintah dalam meningkatkan Indeks Pembangunan Manusia (IPM) dipengaruhi oleh kinerja keuangan daerah dengan harapan dapat mendorong peningkatan kesejahteraan masyarakat secara keseluruhan. Tujuan penelitian adalah untuk menganalisis pengaruh kinerja keuangan pemerintah daerah terhadap kesejahteraan masyarakat pada pemerintah daerah kabupaten dan kota di Provinsi Jawa Tengah tahun 2017-2022. Analisis kinerja keuangan dilihat dari rasio derajat desentralisasi, efektivitas Pendapatan Asli Daerah (PAD), serapan anggaran dan kesejahteraan masyarakat dilihat dari indikator IPM. Metode analisis data yang digunakan yaitu statistik deskriptif dengan memberikan deskripsi mengenai data-data terkait. Selain itu, menggunakan analisis data panel dengan fixed effect model. Hasil penelitian menunjukkan derajat desentralisasi dan serapan anggaran berpengaruh positif dan signifikan, sedangkan untuk efektivitas PAD tidak berpengaruh terhadap IPM pada pemerintah daerah kota dan kabupaten di Provinsi Jawa Tengah tahun 2017-2022. Implikasi dari penelitian ini dapat dijadikan pedoman untuk memperbaiki proses perencanaan dan penyusunan kinerja keuangan, serta untuk meningkatkan kualitas keuangan pemerintah daerah, yang pada akhirnya berkontribusi pada peningkatan kesejahteraan masyarakat. The government's role in improving Human Development Index (HDI) is influenced by regional financial performance in the hope of encouraging an increase in overall community welfare. The purpose of the study was to analyse the effect of local government financial performance on community welfare in city and district local governments in Central Java province in 2017-2022. Financial performance analysis is seen from the ratio of the degree of decentralisation, the effectiveness of the Pendapatan Asli Daerah (PAD), budget absorption and public welfare seen from the HDI indicator. The data analysis method used is descriptive statistics by providing a description of the related data. In addition, using panel data analysis with fixed effect models. The results show that the degree of decentralisation and budget absorption had a positive and significant effect, while the effectiveness of PAD had no effect on HDI in city and district local governments in Central Java province in 2017-2022. The implications of this research can be used as a guideline to improve the planning process and preparation of financial performance, as well as to improve the quality of local government finances, which ultimately contributes to improving the welfare of the community.
Hak Cipta (c) 2025 Widya Lupita, Arief Rahman (Author) https://creativecommons.org/licenses/by/4.0
DUA DEKADE PAJAK KARBON: ANALISIS BIBLIOMETRIK MENGGUNAKAN R BIBLIOSHINY
Pajak karbon telah menjadi instrumen kebijakan utama dalam upaya mitigasi perubahan iklim dan transisi menuju ekonomi hijau. Penelitian ini bertujuan untuk menganalisis tren publikasi, kolaborasi akademik, dan perkembangan topik penelitian mengenai pajak karbon menggunakan metode analisis bibliometrik. Data diperoleh dari database Scopus, mencakup publikasi dari tahun 2004 hingga 2024, yang dianalisis menggunakan perangkat lunak Biblioshiny. Hasil penelitian menunjukkan bahwa jumlah publikasi mengenai pajak karbon meningkat secara signifikan dalam dua dekade terakhir, dengan dominasi kontribusi dari negara-negara maju seperti China, Amerika Serikat, dan Jerman. Analisis jaringan kata kunci mengungkapkan bahwa pajak karbon sering dikaitkan dengan pengendalian emisi, kebijakan lingkungan, dan dampak ekonomi. Selain itu, peta tematik menunjukkan bahwa pajak karbon merupakan tema dasar dalam penelitian, tetapi masih memerlukan pengembangan lebih lanjut, terutama dalam implementasi kebijakan dan efektivitasnya terhadap pertumbuhan ekonomi dan keberlanjutan. Penelitian ini menegaskan bahwa pajak karbon bukan hanya instrumen fiskal untuk pengurangan emisi, tetapi juga berperan penting dalam mendorong inovasi teknologi hijau dan perencanaan kebijakan lingkungan yang lebih efektif. Carbon taxation has become a key policy instrument in climate change mitigation and the transition to a green economy. This study aims to analyze publication trends, academic collaboration, and research topic development related to carbon taxation using bibliometric analysis. Data were obtained from the Scopus database, covering publications from 2004 to 2024, and analyzed using Biblioshiny software. The results indicate a significant increase in carbon taxation publications over the past two decades, with major contributions from China, the United States, and Germany. Keyword network analysis reveals that carbon taxation is frequently associated with emission control, environmental policy, and economic impact. Furthermore, thematic mapping shows that carbon taxation is a basic theme in research but requires further exploration, particularly in policy implementation and its effectiveness in economic growth and sustainability. The findings suggest that carbon taxation is not merely a fiscal instrument for emission reduction but also plays a crucial role in driving green technology innovation and shaping more effective environmental policy frameworks.
Hak Cipta (c) 2025 Yudithia Mega Gumilang, Siti Mutmainah, Hamdan Adhymaz Pratama (Author) https://creativecommons.org/licenses/by/4.0
THE EFFECT OF DIVIDEND POLICY AND LEVERAGE ON FIRM VALUE: THE MODERATING ROLE OF AUDIT QUALITY
This study analyzes the effects of dividend policy and leverage on firm value, with audit quality as a moderating variable. The sample includes manufacturing firms listed on the Indonesia Stock Exchange from 2015 to 2024. Using a quantitative panel data approach and the random effects model on 67 firm-year observations, the study employs multiple regression and moderation analyses to examine direct and interaction effects. Results show that both dividend policy and leverage positively and significantly affect firm value, highlighting the importance of financial signaling and optimal capital structure in emerging markets. Importantly, audit quality, proxied by Big Four auditor engagement, strengthens the positive link between dividend policy and firm value. This underscores the role of high-quality audits in enhancing financial signal credibility and reducing information asymmetry. However, audit quality does not significantly moderate the leverage–firm value relationship, indicating complexities in managing debt risk. This research advances prior literature by combining financial policies and audit quality in one framework within an underexplored emerging market. The findings offer practical guidance for managers and regulators to leverage audit quality as a strategic means to increase investor confidence and firm valuation in developing economies.
Hak Cipta (c) 2025 Ayudya Arifatur Niza, Lu'lu' Nafiati (Author) https://creativecommons.org/licenses/by/4.0
ANALISIS FAKTOR-FAKTOR YANG MEMENGARUHI NIAT BELI KONSUMEN TERHADAP PRODUK BERKELANJUTAN
Penelitian ini dilatarbelakangi oleh meningkatnya kesadaran konsumen terhadap pentingnya memilih produk berkelanjutan untuk mendukung keberlanjutan lingkungan. Namun, meskipun kesadaran ini tumbuh, masih terdapat kesenjangan antara pengetahuan konsumen dan niat beli mereka terhadap produk berkelanjutan. Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi niat beli konsumen terhadap produk berkelanjutan di Kota Denpasar berdasarkan Theory of Planned Behavior (TPB). Metode yang digunakan adalah Structural Equation Modeling (SEM) berbasis Partial Least Squares (PLS), dengan data yang diperoleh dari kuesioner yang disebarkan kepada 103 responden yang memiliki pengetahuan mengenai produk berkelanjutan. Hasil penelitian menunjukkan bahwa faktor sikap, norma subjektif, dan persepsi kontrol perilaku berpengaruh signifikan terhadap niat beli konsumen. Selain itu, nilai yang dirasakan dan manfaat keberlanjutan juga memiliki pengaruh positif terhadap niat beli, sementara kesediaan membayar lebih dan manfaat kesehatan tidak memberikan pengaruh signifikan. Hasil penelitian ini menunjukkan bahwa faktor psikologis seperti sikap dan norma subjektif serta faktor eksternal seperti manfaat keberlanjutan merupakan pengaruh utama dalam niat beli konsumen terhadap produk berkelanjutan. Hal ini berimplikasi pada pentingnya pemasaran yang mengedepankan nilai dan manfaat nyata dari produk berkelanjutan bagi konsumen. This study is motivated by the growing awareness among consumers about the importance of choosing sustainable products to support environmental sustainability. However, despite this growing awareness, there is still a gap between consumers' knowledge and their purchase intention towards sustainable products. This research aims to analyse the factors influencing consumer purchase intention towards sustainable products in Denpasar using the Theory of Planned Behaviour (TPB). The method employed is Structural Equation Modelling (SEM) based on Partial Least Squares (PLS), with data collected from a questionnaire distributed to 103 respondents who have knowledge about sustainable products. The results show that the factors of attitude, subjective norm, and perceived behavioural control have a significant influence on consumer purchase intention. Additionally, perceived value and sustainability benefits also positively affect purchase intention, while willingness to pay more and health benefits do not have a significant effect. The SEM model constructed has an R-square value greater than 0.70, indicating that this model is effective in explaining the variation in consumer purchase intention. This study concludes that psychological factors such as attitude and subjective norm, as well as external factors such as sustainability benefits, are the main influences on consumer purchase intention towards sustainable products. The implication of this research is the importance of marketing that highlights the value and tangible benefits of sustainable products for consumers.
Hak Cipta (c) 2025 Tubagus Mahendra Kusuma, I Ketut Putu Suniantara (Author) https://creativecommons.org/licenses/by/4.0