Abstract:This study aims to empirically analyze the effect of exchange rates and interest rates on the stock prices of banking companies listed on the Indonesia Stock Exchange during the 2020-2024 period. The research employs a quantitative…
uantitative approach with a causal-associative design and utilizes secondary data obtained from official publications of Bank Indonesia (BI) and the Indonesia Stock Exchange (IDX). The research population consists of 45 banking companies, from which 20 companies meeting the sampling criteria were selected using purposive sampling. Data analysis was conducted comprehensively through descriptive analysis, classical assumption tests, multiple linear regression, and hypothesis testing with the assistance of SPSS software. The findings reveal that, partially, exchange rates have a significant negative effect on stock prices, and interest rates also exert a significant negative effect. Furthermore, simultaneous testing confirms that both independent variables significantly and negatively influence banking stock prices. These results highlight that macroeconomic volatility, particularly exchange rate fluctuations and interest rate movements, are crucial determinants to be considered in capital market analysis. Academically, this study contributes to the literature on the relationship between macroeconomic indicators and stock price dynamics, while practically, the results may serve as a reference for investors in making investment decisions, for policymakers in formulating economic stabilization strategies, and for banking institutions in anticipating market risks arising from both global and domestic economic uncertainty.
Abstract:Cooperatives are membership-based economic entities that play a vital role in driving the growth of the microeconomic sector and improving member welfare through the principles of economic democracy. The sustainability of…
f cooperative performance heavily depends on effective financial management, particularly in maximizing the utilization of cash, receivables, and assets to enhance profitability. This study aims to examine the influence of cash turnover, receivables turnover, and total asset turnover on the profitability of cooperatives, as measured by Return on Assets (ROA) as a financial performance indicator. The research employs a quantitative approach using multiple linear regression analysis, based on secondary data from cooperative financial statements covering the period from 2019 to 2024. The analysis results show that both simultaneously and partially, the three independent variables have a positive and significant effect on profitability. Cash turnover and total asset turnover are the primary determinants in improving ROA, reflecting the importance of efficiency in managing liquidity and productive assets. Meanwhile, although receivables turnover is also significant, it requires strict supervision in the implementation of credit policies to avoid an increase in non-performing receivables. These findings contribute empirical evidence to the literature on cooperative financial management and offer practical implications for cooperative managers in designing financial resource management strategies aimed at improving performance and business sustainability. Therefore, optimizing the management of cash, receivables, and assets should be a strategic priority within cooperative financial systems to withstand increasingly complex and competitive economic dynamics.
Abstract:Stock prices represent the market’s consensus regarding the fair value of a business entity, formed through a rational assessment of both financial and non-financial information. Within the frameworks of signaling theory…
ry and market efficiency, financial ratios serve as fundamental indicators reflecting a company's ability to generate profit, manage assets, and maintain short-term liquidity stability. When the market faces systemic disruptions, such as the COVID-19 pandemic, and transitions toward post-pandemic normalization, investor sensitivity to internal indicators tends to increase due to heightened external uncertainty. Consequently, a deep understanding of the internal determinants of stock prices becomes increasingly critical for data-driven investment decision-making. This study aims to empirically examine the effect of the Current Ratio (CR), Return on Assets (ROA), and Total Asset Turnover (TATO) on stock prices, both partially and simultaneously, in companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. A quantitative approach was employed, using a descriptive-verificative design and secondary data drawn from audited financial statements and annual closing stock prices. The sample consisted of 91 companies selected through purposive sampling, and the data were analyzed using multiple linear regression with SPSS version 27. The analysis results indicate that all three independent variables have a positive and significant impact on stock prices, both individually and collectively. This study contributes to the capital market literature by highlighting the relevance of financial ratios in explaining stock price fluctuations in the post-pandemic period, a topic that remains underexplored in the context of developing countries.
Abstract:This study investigates the critical determinants of export success in the traditional ceramics industry of Plered, using the Dodol Badebah home enterprise as a case study. The research specifically analyzes the effects…
of product quality, marketing strategy, and external institutional support on export performance. A quantitative research design was adopted, utilizing structured questionnaires distributed to 60 consumers of Plered ceramics. The data were analyzed using multiple linear regression to assess the influence and significance of each independent variable on export outcomes. Findings indicate that product quality exerts a significant and positive effect on export success, particularly through attributes such as design innovation, material strength, aesthetic value, and compliance with international standards. Conversely, marketing strategy and external support did not demonstrate statistically significant effects, suggesting the need for strategic realignment and more targeted institutional engagement. These results highlight the dominant role of internal capabilities, especially quality control and product development, over external promotional or governmental interventions in driving export readiness and sustainability. The study contributes to the growing body of literature on micro and small enterprises in developing economies by offering empirical evidence on export determinants in cultural and creative industries. Practically, the findings recommend prioritizing product excellence as a core strategy for global market penetration, while simultaneously improving the effectiveness of marketing channels and policy support mechanisms. Future research should explore digital transformation, international consumer preferences, and long-term impacts of policy shifts on export growth in artisanal sectors.
Abstract:This study aims to comprehensively investigate the influence of Social Media Marketing and Lifestyle on consumer Purchase Decisions, with Brand Awareness serving as a mediating variable that plays a pivotal role in the consumer…
onsumer decision-making process. The research adopts a causal-quantitative design, intended to identify and test the causal relationships among the predetermined variables. Primary data were collected through the distribution of questionnaires to 130 respondents, consisting of customers of CW Coffee in Pontianak City, West Kalimantan. Data analysis was conducted using the Structural Equation Modeling (SEM) technique based on Partial Least Squares (PLS), operated through SmartPLS 4 software, which facilitates simultaneous evaluation of both the measurement model (outer model) and the structural model (inner model). The model estimation results indicate that both Social Media Marketing and Lifestyle exert a positive and statistically significant effect on Brand Awareness, and contribute both directly and indirectly to Purchase Decisions. Furthermore, Brand Awareness is empirically validated as a partial mediator that reinforces the relationship between the independent variables and the dependent variable. The theoretical implications of these findings underscore that enhancing brand exposure through strategic social media engagement and contextually understanding contemporary consumer Lifestyles are critical determinants in shaping strong brand perceptions and driving purchase intention and realization. Consequently, this study offers practical contributions for business practitioners in formulating digital marketing strategies based on the integration of consumer values and the optimization of digital communication channels, thereby enhancing market penetration effectiveness and fostering long-term customer loyalty.
Abstract:The mobile gaming industry has evolved into a strategic sector within the global digital economy ecosystem, contributing significantly to the overall revenue of the gaming industry. A concrete manifestation of this dynamic…
ic is Honor of Kings (HoK), a 5v5 MOBA game developed by TiMi Studio Group, which has recorded over 100 million daily active players worldwide. The success of HoK is not solely determined by the quality of its game mechanics but also by its ability to deliver an immersive user experience and implement adaptive Content Marketing strategies. This study aims to empirically examine the influence of Game User Experience (GUX) and Content Marketing on Player Loyalty, with Satisfaction serving as a mediating variable. Employing a quantitative approach through Structural Equation Modeling (SEM), data were collected from active HoK players using a validated survey instrument. The results of the analysis indicate that both GUX and Content Marketing have a significant positive effect on Satisfaction, which, in turn, mediates their influence on Loyalty. The proposed mediation model successfully illustrates the affective role of Satisfaction as a key determinant in the formation of player Loyalty in digital contexts. These findings not only reinforce theoretical foundations in the domain of experience-based marketing but also offer practical insights for game developers and marketers in designing sustainable retention strategies through the optimization of gameplay experience and value-driven content delivery. Accordingly, this study presents a relevant conceptual framework for understanding the mechanisms of Loyalty formation within the competitive and dynamic mobile gaming industry.
Abstract:Abstract: The presence of students is one of the important things in lecture activities. Student attendance data can be used as an indicator of student discipline and as a determinant of student eligibility to take the exam.…
xam. The recording of student attendance at Universal University is still done manually by signing the attendance register document. The problem that arises from using the manual method is that a student can sign the attendance of other students, requires supervision, and burdens the administration in managing attendance data. Therefore, this study proposes the design and implementation of a student attendance application using the X100-C fingerprint machine. The application made is presented in the form of a web-based application. Through the attendance application, admin work is helped and minimizes fraud that arises from recording attendance manually using paper.
Keywords: Attendance Application; Fingerprint; X100-C Machine
Abstrak: Kehadiran mahasiswa menjadi salah satu hal penting dalam kegiatan perkuliahan. Data kehadiran mahasiswa dapat digunakan sebagai indikator kedisiplinan mahasiswa serta sebagai penentu kelayakan mahasiswa dalam mengikuti ujian. Pencatatan kehadiran mahasiswa di Universitas Universal hingga kini masih dilakukan secara manual dengan menandatangani dokumen daftar hadir. Permasalahan yang timbul dari penggunaan cara manual tersebut adalah seorang mahasiswa dapat menandatangai kehadiran mahasiswa lain, membutuhkan pengawasan, dan membebani pihak administrasi dalam mengurus pendataan kehadiran. Oleh karenanya, penelitian ini mengajukan rancangan serta implementasi sebuah aplikasi kehadiran mahasiswa menggunakan mesin fingerprint X100-C. Aplikasi yang dibuat disajikan dalam bentuk aplikasi berbasis web. Melalui aplikasi kehadiran tersebut, pekerjaan admin menjadi terbantu dan meminimalkan kecurangan yang muncul dari pencatatan kehadiran secara manual menggunakan kertas.
Kata kunci: Aplikasi Kehadiran; Fingerprint; Mesin X100-C
Abstract:Abstract: By leveraging digital technology, Laporkitong enhances transparency and accountability, as well as facilitates public participation in the oversight and enforcement processes related to land use and natural resource…
ource management. The Laporkitong website functions as an online reporting application aimed at documenting instances of spatial planning violations in the West Papua Province. The lack of public knowledge about the Laporkitong application has led to numerous issues. Therefore, an analysis of the adoption of the Laporkitong application is necessary. This study aims to investigate the influence of Perceived Quality, Perceived Control, and Perceived Ease of Use factors as determinants of the residents' willingness to use the Laporkitong application, employing the Technology Acceptance Model (TAM) and DeLone and McLean IS Success (IS D&M) theories. As many as 160 valid respondents are gathered based purposive sampling technique and evaluated using Partial Least Square Structural Equation Modeling (PLS-SEM). The results inform that all seven hypotheses are accepted with the R-square of the intention to use is 0.273 indicationg 27.3% variance of the model can determine the outcome. Further discussion and conclusion regarding the implication of theoretical and practical contribution are also discussed.
Keywords: laporkitong; perceived control; perceived ease of use; perceived quality; technology acceptance model
Abstrak: Dengan memanfaatkan teknologi digital, Laporkitong meningkatkan transparansi dan akuntabilitas, serta memfasilitasi partisipasi publik dalam proses pengawasan dan penegakan terkait penggunaan lahan dan pengelolaan sumber daya alam. Website Laporkitong berfungsi sebagai aplikasi pelaporan online yang bertujuan untuk mendokumentasikan pelanggaran perencanaan tata ruang di Provinsi Papua Barat. Minimnya pengetahuan masyarakat terhadap aplikasi Laporkitong menyebabkan banyak permasalahan. Maka dari itu perlu dilakukan analisis mengenai adopsi pada aplikasi Laporkitong. Penelitian ini bertujuan untuk menyelidiki pengaruh faktor Kualitas yang Dirasakan, Kendali yang Dirasakan, dan Kemudahan Penggunaan yang Dirasakan sebagai penentu keinginan penduduk untuk menggunakan aplikasi Laporkitong, dengan menggunakan Model Penerimaan Teknologi (TAM) dan teori Kesuksesan Sistem Informasi (IS D&M) DeLone dan McLean. Sebanyak 160 responden valid dikumpulkan berdasarkan teknik purposive sampling dan dievaluasi menggunakan Partial Least Square Structural Equation Modeling (PLS-SEM). Hasilnya menunjukkan bahwa semua tujuh hipotesis diterima dengan R-square niat untuk menggunakan adalah 0,273, menunjukkan bahwa 27,3% variasi model dapat menentukan hasilnya. Diskusi lebih lanjut dan kesimpulan mengenai implikasi kontribusi teoritis dan praktis juga dibahas.
Kata kunci: laporkitong; pengendalian yang dirasakan; kemudahan penggunaan yang dirasakan; kualitas yang dirasakan; model penerimaan teknologi
Abstract:This study examines the development of fiscal decentralization and its relationship to regional financial independence in Indonesia through a systematic literature review. The objective is to synthesize empirical and conceptual…
ceptual findings published between 2017 and 2026 concerning the determinants, measurement, and consequences of regional financial independence, particularly the role of local own-source revenue (PAD), intergovernmental transfers, and capital expenditure. Using a systematic search of Scopus, Google Scholar, and Garuda databases, 30 relevant articles were screened, selected, and analyzed following defined inclusion and exclusion criteria. The review finds that fiscal decentralization consistently strengthens local revenue mobilization and administrative accountability when accompanied by adequate institutional capacity, transparent governance, and effective management of natural and economic resources. However, the effectiveness of decentralization varies considerably across regions due to disparities in economic potential, human resources, and political commitment. The synthesis further shows that financial independence positively affects the quality of public services and regional economic growth, although the relationship is moderated by expenditure efficiency and governance quality. The novelty of this review lies in its integrative framework linking revenue-side determinants, expenditure behavior, and governance mechanisms within a single analytical narrative, an integration rarely addressed jointly in prior single-country studies. The findings offer practical implications for policymakers designing fiscal transfer formulas and for future researchers seeking to test moderating variables such as digitalization and institutional quality in the fiscal decentralization–financial independence nexus.
Abstract:This study aims to construct an integrated constellation model and determine optimal strategies for reinforcing lecturers’ professional commitment at leading private universities in Bogor. Utilizing the POP-SDM (Modeling…
ng and Optimization of Management Resources) framework, the research integrates elements of local wisdom and organizational support within a systemic approach to human resource development. The exploratory qualitative phase involved in-depth interviews and focus group discussions to uncover major determinants influencing professional commitment. From the thematic analysis, four principal variables emerged—teamwork, organizational climate, religiosity, and work motivation—which were validated through expert judgment. Quantitative verification was subsequently performed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) technique to examine both direct and indirect relationships among constructs. The analysis confirmed that all variables exert positive and significant effects on lecturers’ professional commitment, with work motivation being the most dominant factor. To refine improvement priorities, the SITOREM (Scientific Identification Theory for Conducting Operational Research in Educational Management) method was applied, identifying indicators that should be improved, maintained, or further developed. The findings offer empirical and practical insights, including: (1) a validated POP-SDM–based commitment model combining cultural and organizational dimensions; (2) evidence-based strategies to enhance lecturer professionalism; and (3) an optimization framework to guide sustainable lecturer development in higher education institutions.