Abstract:This study aims to examine the effect of the Current Ratio (CR) and Debt to Equity Ratio (DER) on stock returns, with the exchange rate as a moderating variable, in retail sub-sector companies listed on the Indonesia Stock…
ck Exchange during the 2019–2023 period. This research employed a quantitative approach using secondary data obtained from annual financial reports and stock price data. The sampling technique used purposive sampling, resulting in 25 companies with 125 observations. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that the Current Ratio has a negative and significant effect on stock returns, meaning that excessively high liquidity tends to reduce stock returns. Debt to Equity Ratio also has a negative and significant effect on stock returns, indicating that higher leverage increases financial risk and lowers investor confidence. Simultaneously, Current Ratio and Debt to Equity Ratio significantly affect stock returns. However, the exchange rate has no effect on stock returns. Furthermore, the exchange rate is unable to moderate the relationship between Current Ratio and stock returns, as well as between Debt to Equity Ratio and stock returns. These findings imply that internal company factors, particularly liquidity management and capital structure, are more dominant in influencing stock returns than external macroeconomic factors such as exchange rate fluctuations. Therefore, investors are advised to pay closer attention to financial fundamentals when making investment decisions in the retail sector.
Abstract:Infrastructure management in outermost border islands is not only a matter of physical development, but also a strategic issue related to sovereignty, community welfare, connectivity and national defence. This article examines…
amines infrastructure management on Miangas Island, one of Indonesia’s northernmost outer islands bordering the Philippines. Although Miangas already has several basic and strategic infrastructures, including roads, an airport, a port, electricity facilities, clean water sources, telecommunications, health facilities and security infrastructure, these assets have not yet functioned as an integrated and reliable system. The main problem is therefore not the absence of infrastructure, but the gap between physical availability and functional performance. This study uses a qualitative descriptive-analytical approach based on field observation, semi-structured interviews and document review. Data were analysed using the Miles and Huberman model, supported by STEEP+M and SWOT analysis. The findings show that infrastructure management in Miangas is influenced by three main indicators: infrastructure availability and quality, connectivity and accessibility, and infrastructure sustainability. Internally, Miangas has strengths in its strategic geography, existing infrastructure assets, state institutional presence, social cohesion and strong national identity. However, these strengths are constrained by weak service quality, limited maintenance, unstable connectivity, a fragile local economy and inadequate maritime surveillance. Externally, Miangas benefits from national legal support, strategic policy status and Indonesia–Philippines cooperation, but faces threats from cross-border dependence, illegal fishing, border violations, environmental pressure and geopolitical sensitivity. The SWOT analysis places Miangas in the WO quadrant, meaning that external opportunities should first be used to overcome internal weaknesses. This article proposes the Civil-Military Corridor Resilience Model as an integrated framework that connects public services, logistics, energy, local markets, maritime security and territorial defence in one border resilience system.
Abstract:The existence of banking institutions has an important role in the country's economy. Banking institutions have three main functions, namely financial intermediary, agent of development and agent of trust. The existence…
and sustainability of banking institutions must be pursued as much as possible by bank managers, because their existence can improve the economy. One of the efforts made by banking institutions is to channel credit to parties in need to meet customer needs and obtain benefits for banking institutions. The research method includes explanatory-descriptive-quantitative research. The population is 24,675 consumer credit customers of BRIGuna Bank BRI in the horseshoe area, East Java. The sample is 250 customers who have received BRIGuna consumptive credit at least twice in a row, using non-probability sampling-purposive sampling on a quota basis. Analysis tools and techniques using SPSS, SEM, and AMOS version 24. Data collection techniques using a questionnaire / google form and interviews. Service quality and innovation of a bank will improve the company's image, sustainable competitive advantage based on loyalty and the intention to re-elect in one bank. Innovation also affects customer satisfaction, while loyalty-based sustainable competitive advantage is also influenced by the image of banking companies. Loyalty-based sustainable competitive advantage affects the intention to re-elect in a bank. Further research to be more specific on the quality of consumer credit services, requires a collaborative approach to customers which is social capital and focuses on innovation that provides convenience for customers while maintaining the company's image in the eyes of customers because this is the key to a loyalty-based sustainable competitive advantage.
Abstract:This study aims to analyze the urgency and mechanisms of implementing Restorative Justice in resolving family conflicts from the perspective of Islamic Family Law. Amid the high rates of divorce and domestic violence, formal…
rmal litigation approaches often fail to repair fractured relationships among family members. This research employed a qualitative method with a normative juridical approach. Data were collected through literature studies of Islamic legal texts, Indonesian statutory regulations, and related literature on Restorative Justice. The findings indicate that the concept of Restorative Justice has strong relevance to the principle of Ishlah (reconciliation) in Islamic Family Law. Unlike the retributive approach, which focuses on punishment, Restorative Justice prioritizes relationship recovery, forgiveness, and collective welfare. In practice, instruments such as mediation in Religious Courts and the role of Hakam (peace mediators) represent clear manifestations of these restorative values. The study concludes that integrating Restorative Justice into the family law system is not only effective in reducing divorce rates but also capable of preserving the psychological well-being of family members, especially children. The academic contribution of this study lies in providing a theoretical foundation for the development of positive law in Indonesia to become more accommodative toward non-litigation dispute resolution based on religious values and local wisdom. The researcher recommends strengthening technical mediation regulations so that they do not merely become procedural formalities in court.
Abstract:This study aims to analyze consumer segmentation in the traditional culinary business of a Madurese duck rice and fried chicken restaurant in Konawe Regency. This study used a descriptive qualitative method with data collection…
lection techniques including interviews, observation, and documentation. Informants consisted of the owner, employees, and customers who had visited the restaurant two or more times. The analysis was conducted based on four types of market segmentation: geographic, demographic, psychographic, and behavioral. The results of this study indicate that this restaurant has a fairly broad market segment, encompassing both local and out-of-town customers, with consumers predominantly students, office workers, and families. Authentic taste, affordable prices, and fast service are the main factors attracting customers. Geographic segmentation indicates potential for expansion due to the increase in out-of-town visitors on weekends. Demographic and psychographic segmentation indicate that customers have a high interest in traditional, spicy dishes. Behavioral segmentation indicates the presence of loyal customers and repeat purchasing patterns. These findings provide important recommendations for businesses to develop more effective marketing strategies tailored to the characteristics of their target market.
Abstract:This study aims to examine fishermen's perceptions of the Advanced Fishermen's Village Program (KALAJU) in Palaran Indonesia. This study uses a descriptive quantitative approach with purposive sampling technique to select…
t 15 respondents based on specific criteria. The perception indicators used are internal factors, including physiological aspects, interest, attention, unidirectional needs, and emotional conditions. Data analysis was conducted using a Likert scale to measure the fishermen's perception levels toward the program. The research results indicate that fishermen generally have a positive perception of the Advanced Fishermen Village Program across all the indicators used. The cumulative value of the internal factor reached 35.73, which falls into the high category. This indicates that the program was well-received and considered beneficial by the fishermen at the research location. The Maju Fisherman Village Program has strong potential in supporting the improvement of fishermen's welfare. However, sustainable support and effective implementation strategies are needed to maintain and enhance the program's impact.
Abstract:This study aims to develop and examine the effectiveness of religious moderation in digital media based on the Dick and Carey learning model. The research is grounded in the increasing use of digital media as a primary source…
ource of religious information, which has the potential both to strengthen and to undermine the values of religious moderation. The study employed a qualitative approach with a Research and Development (R&D) design. The subjects were university students who actively use digital media. Data collection techniques included interviews, observations, questionnaires, and documentation, while data analysis followed the Miles and Huberman model. The results indicate that students’ understanding of religious moderation remains largely normative and is not yet accompanied by adequate digital literacy skills. The development of the Dick and Carey-based learning model produced interactive digital media, including educational videos, digital modules, and social media content. Implementation of the model demonstrated a significant improvement in students’ comprehension, tolerance, and critical thinking regarding religious content in digital media. Furthermore, the study found that integrating constructivist approaches, social learning, and digital literacy into the learning design effectively reinforced the internalization of religious moderation values. The developed learning model proved effective in enhancing student engagement and fostering inclusive and tolerant attitudes.In conclusion, promoting religious moderation in digital media requires a systematic, technology-based learning approach. This study provides both theoretical and practical contributions to the development of a learning model for religious moderation in the digital era.
Abstract:The tradition of visiting the tomb of Sultan Maulana Hasanuddin of Banten is a socio-religious practice that remains alive today and plays a significant role in the lives of the people of Banten. This tradition not only…
reflects religious rituals but also embodies historical, cultural, and spiritual values that shape the identity of the local community. This study aims to examine the tradition of visiting the tomb of Sultan Maulana Hasanuddin of Banten as a cultural heritage and a manifestation of the community’s spirituality. The research method employed is a qualitative approach using literature review and archival research. Data were obtained from historical books, scientific journal articles, theses, research reports, and other relevant supporting sources related to the study of pilgrimage, local Islamic culture, and the Sultanate of Banten. Data analysis was conducted using a descriptive-qualitative technique by examining and interpreting various sources to uncover the meanings, practices, and dynamics of the pilgrimage tradition. The results of the study indicate that the tradition of visiting the tomb of Sultan Maulana Hasanuddin possesses a strong spiritual dimension as a means of drawing closer to Allah, a medium for self-reflection, and the formation of individual and collective spirituality. Furthermore, the pilgrimage tradition also functions as an intangible cultural heritage that plays a role in preserving history, transmitting cultural values, and strengthening the identity of the Banten community. Amid the development of religious tourism and modernization, the pilgrimage tradition faces dynamics that require sustainable management to ensure that religious and cultural values remain preserved. This study concludes that the tradition of pilgrimage to the tomb of Sultan Maulana Hasanuddin of Banten is an important and relevant cultural-religious practice in maintaining the sustainability of the community’s spirituality and cultural identity.
Abstract:The Indonesian Red Cross (PMI) is an independent and neutral organization engaged in humanitarian work. The PMI in Pringsewu Regency faces challenges in managing member, staff, and attendance data, hindering the development…
ent of its Youth Red Cross (PMR) and Volunteer Corps (KSR) activities. Furthermore, public access to information about the PMI in Pringsewu Regency remains limited. Based on these challenges, this study aims to design and build an Android-based information system to manage PMI member and volunteer data in Pringsewu Regency. The research method used is the Waterfall method, encompassing the stages of needs analysis, system design, implementation, testing, and maintenance. The system is equipped with features for member management, volunteer attendance, staff information, and public access to information. Black Box testing results indicate that all system functions operate as required. With this information system, PMI member and volunteer data management in Pringsewu Regency becomes more effective, accurate, and integrated, while also facilitating public access to information about the PMI.
Abstract:This study aims to examine the effect of village apparatus competence and community participation on the accountability of village financial management in the villages of Talaga Jaya District, Gorontalo Regency. The method…
od used is quantitative with primary data collection through questionnaires distributed to village apparatus with a total sample of 110 respondents. Data processing was carried out using SPSS version 26 with analysis stages including validity tests, reliability tests, classical assumption tests, multiple linear regression analysis, hypothesis testing, and coefficient of determination tests. The results showed that partially, village apparatus competence has a positive and significant effect on the accountability of village financial management. Similarly, community participation has a positive and significant effect on the accountability of village financial management. Simultaneously, both variables significantly affect accountability of village financial management. These findings have practical implications for village apparatus in Talaga Jaya District to improve accountability through strengthening village apparatus competence and expanding community participation spaces in every stage of financial management, from planning to accountability.