Abstract:Fractional premium schemes in life insurance generally follow two main approaches: True Fractional Premiums, which are easy to implement but less fair to policyholders who die mid-period, and Apportionable Fractional Premiums,…
miums, which are more actuarially fair but administratively more complex. This study designs a Hybrid Fractional Premiums model that combines both approaches through a weighted linear combination using parameter , based on the 2023 Indonesian Mortality Table (TMPI), a 5% interest rate, a 10-year coverage period, and monthly premium payments. This descriptive quantitative study applies actuarial mathematics, covering the present value of insurance benefits, true fractional, apportionable fractional, and hybrid annuity factors, up to premium determination using the equivalence principle. The results show that the hybrid premium consistently lies between the true fractional and apportionable premiums, increases sharply with the insured's age, and is higher for males than females due to differences in mortality rates. Changes in the value of have a linear effect on the premium, although the impact is relatively small (a difference of less than IDR 200 per month). The hybrid model with is recommended as the optimal balance between actuarial fairness and ease of implementation, offering a more flexible alternative for premium determination in Indonesia's life insurance industry.
Abstract:Village infrastructure development planning often faces challenges in determining priorities due to limited budget allocations and assessment mechanisms that still tend to be subjective. This study aims to build an objective,…
tive, transparent, and measurable Decision Support System (DSS) to determine the priority order of infrastructure development proposals in Asam Jawa Village, Torgamba District. The applied solution integrates the Rank Order Centroid (ROC) method to calculate criteria weighting based on relative importance, and the Simple Additive Weighting (SAW) method to process the alternative ranking calculation. The evaluation was conducted on 23 physical infrastructure proposals using four main criteria: urgency level (C1), physical condition (C2), benefits (C3), and population size (C4). The results indicate that alternative A4 (Construction of Borehole Well and Public Toilet at Field) and alternative A18 (Sejahtera Street Concrete Cast) achieved the highest preference score of 1.000000, followed by other infrastructure proposals in a structured manner. The combined use of ROC and SAW methods is proven to be effective and consistent in generating accurate rural development priority rankings. The integration of these two methods facilitates village government officials in making accountable decisions while minimizing cognitive bias risks in optimizing development budget allocation.
Abstract:Dinas Komunikasi dan Informatika Provinsi Jambi masih melaksanakan proses pencatatan dan monitoring barang masuk secara manual menggunakan dokumen administrasi dan aplikasi perkantoran sederhana, sehingga menimbulkan kendala…
dala berupa kesalahan pencatatan, keterlambatan pencarian data, dan kesulitan penyusunan laporan. Penelitian ini bertujuan merancang Sistem Monitoring dan Pengelolaan Barang Masuk Berbasis Web untuk membantu proses pencatatan, monitoring, pencarian, dan pelaporan data barang masuk secara lebih efektif. Metode pengembangan yang digunakan adalah Waterfall, meliputi analisis kebutuhan, perancangan, implementasi, pengujian, dan pemeliharaan, dengan pemodelan menggunakan UML serta basis data MySQL. Hasil penelitian menunjukkan bahwa sistem yang dibangun mampu mempermudah proses pencatatan barang, mempercepat pencarian data, meningkatkan akurasi penyimpanan data, serta menyederhanakan penyusunan laporan secara otomatis.
The Communication and Informatics Office of Jambi Province still records and monitors incoming goods manually using administrative documents and basic office applications, resulting in recording errors, delayed data retrieval, and difficulties in report preparation. This study aims to design a Web-Based Monitoring and Management System for Incoming Goods to support recording, monitoring, searching, and reporting processes more effectively. The system was developed using the Waterfall method, covering requirements analysis, design, implementation, testing, and maintenance, modeled with UML and a MySQL database. The results show that the developed system simplifies the recording of goods, accelerates data search, improves data storage accuracy, and streamlines automatic report generation.
Abstract:Digital financial transparency is crucial for achieving the Sustainable Development Goals (SDGs), particularly for building accountable and trustworthy public institutions. Limited studies examine whether digitalization…
actually delivers accessible financial information and whether such transparency strengthens sustainable public governance. This study addresses that gap by constructing an original, multi-dimensional, portal-level Digital Financial Transparency Index (DFTI) and linking it to sustainable public governance, an association not previously tested at the Indonesian subnational level. Using a quantitative, explanatory design, financial management and public information portals are assessed through content analysis. Twenty-one indicators covering organizational information, financial transparency, and website accessibility are aggregated into the DFTI. Sustainable public governance is proxied by the 2024 electronic-based government system (SPBE) index, the only nationally standardized, externally assessed, and annually published measure of digital public administration maturity in Indonesia. Ordinary least squares regression tests the hypothesis, complemented by Spearman correlation as a non-parametric robustness check suited to the small city and regency subsamples. The findings show DFTI has a positive and significant effect on SPBE (β = 0.026; p = 0.032). The effect operates through content rather than appearance: among regencies, organizational information and financial transparency correlate significantly (p < 0.05) with SPBE, website accessibility does not. The results provide recommendations that local governments should adopt a standardized minimum financial-disclosure content and prioritize the weakest indicators, which are raw data, citizen-friendly budget summaries, and personal data protection. Also the provincial government should channel budget-capacity support to low-DFTI regencies, where transparency and maturity are most strongly associated with budget resources to advance SDG 17.
Abstract:This study was motivated by fluctuations in the stock prices of mining sector companies listed in the IDX30 index during 2021–2024, Indonesia’s mineral downstreaming policy, and inconsistencies in previous research findings.…
indings. This study aimed to analyze the effects of interest rates and financial performance, as measured by the debt-to-equity ratio (DER) and earnings per share (EPS), on the stock prices of IDX30 mining companies and to examine the moderating role of inflation. The population comprised all mining sector companies listed in the IDX30 index during the year 2021–2024, while the sample was selected using purposive sampling. This study employed a quantitative explanatory approach and panel data regression with Moderated Regression Analysis. The results showed that interest rates had a negative and significant effect on stock prices, whereas EPS had a positive and significant effect. DER did not significantly affect stock prices. Furthermore, inflation did not moderate the effects of interest rates, DER, or EPS on stock prices. These findings imply that mining companies should maintain sustainable profitability and consider interest rate dynamics in financial decision-making. Investors should also consider macroeconomic conditions and company fundamentals when formulating investment strategies.
Abstract:This study examines the influence of Maqashid Sharia dimensions on halal cosmetic usage intention among married Muslim women and investigates the moderating role of price affordability. A quantitative approach was employed…
ed using a survey method involving 157 married Muslim women residing in the Greater Jakarta area (Jabodetabek), Indonesia. Respondents were selected through purposive sampling, and the data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. The findings reveal that among the five Maqashid Sharia dimensions examined, only hifz al-mal (protection of wealth) and hifz al-nasl (protection of lineage) significantly and positively influence halal cosmetic usage intention. In contrast, hifz al-din (protection of religion), hifz al-nafs (protection of life), and hifz al-aql (protection of intellect) do not show significant effects. Price affordability demonstrates a significant direct positive effect on usage intention; however, it does not moderate the relationships between any of the Maqashid Sharia dimensions and usage intention. The model explains 65.5% of the variance in halal cosmetic usage intention (R² = 0.655) with a predictive relevance value of Q² = 0.469. These findings suggest that economic rationality and family orientation serve as the primary drivers of halal cosmetic consumption among married Muslim women, rather than individual religiosity or health awareness. This study contributes to the literature by applying the Maqashid Sharia framework to consumer behavior research and provides practical implications for halal cosmetic industry stakeholders.
Abstract:This study aims to analyze stock market reactions to Cum-Ex Dividend announcements for companies listed on the Indonesia Stock Exchange (IDX) in 2024. Market reactions were measured through abnormal returns and stock trading…
ding volume before and after Cum-Ex Dividend announcements. This study was motivated by differences in investor behavior in responding to dividend distribution information, which is regarded as a positive signal for the market. The research employed a comparative quantitative method with an event study approach. The sampling technique used was purposive sampling. Secondary data were obtained from the Indonesia Stock Exchange, comprising a sample of 88 issuers that distributed cash dividends. Research variables consisted of stock prices and stock trading volume. Data analysis was performed using dummy regression and the Wilcoxon Signed Rank Test with EViews 12 software. The results showed that the majority of issuers (81.82%) experienced significant market reactions to the Cum-Ex Dividend announcement. A total of 56.82% of issuers showed significant negative reactions consistent with the dividend drop theory, while 25% showed significant positive reactions, indicating that investors viewed dividends as a positive signal for company prospects. Meanwhile, 18.18% of issuers showed no significant reaction to dividend announcements. This study demonstrates that Cum-Ex Dividend announcements affect abnormal returns and stock trading volume, thus providing a basis for investor consideration in making investment decisions in the capital market.
Abstract:Steamed sponge cake (bolu kukus) is a widely consumed traditional snack in Indonesia; however, its reliance on refined wheat flour limits its micronutrient and dietary fiber density. Incorporating composite flours from indigenous…
ndigenous crops, such as tropical pumpkin (Cucurbita moschata) and green pea (Vigna radiata L.), offers a promising strategy for nutritional fortification and dietary diversification. This study aimed to evaluate the proximate composition, sensory acceptability, statistical differences, and production cost feasibility of steamed sponge cakes formulated with varying proportions of pumpkin and green pea flours as partial replacements for refined wheat flour. An experimental design was applied using three formulations: AF09 (Control: 100% wheat flour), BW91 (10% pumpkin flour, 20% green pea flour), and CB88 (15% pumpkin flour, 15% green pea flour). Proximate testing measured moisture, ash, protein, fat, crude fiber, and total carbohydrates (by difference). Sensory acceptance (color, aroma, taste, and texture) was evaluated by 50 semi-trained panelists using a hedonic scale. Data were analyzed non-parametrically using Kolmogorov-Smirnov, Kruskal-Wallis, and post-hoc Mann-Whitney tests. All formulations complied with the Indonesian National Standard (SNI 01-3840-1995) for moisture (31.69%–33.74%), total ash (0.66%–1.05%), crude protein (5.80%–6.65%), and crude fat (1.64%–2.82%). Formula CB88 achieved the highest crude fiber content (0.69%) and lower total energy density (269.88 kcal/100 g). Kruskal-Wallis testing indicated statistically significant differences (p<0.05) among formulations for color, taste, and texture, while aroma exhibited no significant variation (p=0.672). Formula CB88 emerged as the optimal treatment, receiving superior sensory acceptance ratings for color (90% liked) and crumb softness (88% liked) driven by natural β-carotene and pectin-moisture gelation. Production cost analysis demonstrated high economic feasibility for CB88 at IDR 3,374 per 55 g serving. Partial substitution with 15% pumpkin flour and 15% green pea flour (Formula CB88) yields a nutrient-dense, fiber-enriched, and cost-effective functional snack suitable for targeted school nutrition and dietary diversification programs.
Abstract:This study examines how a non-diasporic public in the Global South engages with a foreign election in which it holds no vote, no residence, and no direct material stake. Rather than asking how Indonesian netizens represent…
nt Zohran Mamdani, the first Muslim Mayor of New York City, it asks what talking about Mamdani does for these netizens as members of their own polity, and develops the concept of comparative civic imagination: the use of a foreign political figure as a discursive instrument for evaluating, criticising, and re-imagining one’s own democracy. The study applies qualitative Computer-Mediated Discourse Analysis (CMDA) to public Indonesian-language discourse about Mamdani on platform X between 1 November 2025 and 30 June 2026, drawing on a purposively constructed corpus of 213 units—134 citizen-account units as the analytical core and 79 media-account units as contextual triangulation—recoded by comparative function and affective register rather than by stance toward the figure. The findings show that Indonesian netizens engage Mamdani through a comparative architecture organised by the vernacular frame “Mamdani Indonesia” (45% of citizen units) and enacted through three repertoires: analogical personification, institutional benchmarking, and counterfactual transposition. The discourse is animated by civic despair—crystallised in the idiom “Indonesia could never”—which operates as a participatory rather than an apathetic affect, while a domestic value-compatibility filter of doctrinal, sectarian, and purity tests renders the admired model discursively non-transferable, closing a recursive loop theorised here as a digitally networked spectre of comparisons. The article shifts the analysis of transnational digital engagement away from cosmopolitan and diasporic assumptions toward the vicarious engagement of non-diasporic publics, re-theorises despair as a mode of civic engagement, and recovers Benedict Anderson’s spectre of comparisons for platform-era political communication in the Global South.
Abstract:Communicative competence has become an essential competency for business education students in response to the growing demands of multilingual, multicultural, and technology-driven workplaces. However, previous studies have…
ave generally examined bilingual competency, collaborative learning, and communicative competence as separate constructs, providing limited understanding of their integrated relationships. This study aimed to develop an Integrated Communicative Competence Model for business education through the synthesis of previous empirical studies and recent international literature. A conceptual research design employing an integrative evidence synthesis approach was used to analyse empirical findings on bilingual competency, pair interaction, communicative competence, and professional readiness. The synthesis demonstrates that bilingual competency provides the linguistic and intercultural foundation for effective communication, while pair interaction functions as a collaborative learning mechanism that strengthens authentic communication practices. The interaction of these dimensions enhances communicative competence, which subsequently improves students' professional readiness and graduate employability in multilingual business environments. The proposed model contributes to communication studies by integrating bilingual competency and collaborative learning into a unified conceptual framework and provides practical guidance for curriculum development and communication-oriented learning in business education.