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:The Constitution of the Unitary State of the Republic of Indonesia (NKRI) stipulates that the interests of the people must be voiced and accommodated through legislative channels, represented by the People's Representative…
ve Council (DPR) from the regional to the central government levels. However, it is often found that the hopes of the people are not fully articulated, resulting in certain issues never reaching a final resolution. This study aims to analyze the role of the DPR in voicing the people's interests based on the fourth principle of Pancasila. The method used in this research is qualitative with a literature study approach, where data is collected from various scientific sources. The results of the analysis show that the main functions of the DPR, namely in legislation, oversight, and budgeting, have not been fully optimized due to weak accountability and transparency. This crisis of representation impacts the decline in public trust, low political participation, and increased polarization in society. To address these issues, systemic reforms are needed, including enhancing transparency, strengthening accountability mechanisms, and involving the public actively in the decision-making process. Thus, the goal of the DPR’s existence, which can be achieved, is to voice the will of the people, realize deliberation for consensus, and ensure justice and welfare in line with the substance of Pancasila’s ideology, particularly its fourth principle. This study recommends the need to restore the essence of deliberation for consensus in accordance with the fourth principle of Pancasila, accompanied by better political education and electoral system reforms to ensure that elected representatives are truly competent and focused on the interests of the people.
Abstract:The rights of justice collaborators (JCs) to obtain sentence reductions in murder cases remain inconsistently applied within Indonesia’s criminal justice system. This research addresses three core issues: the normative legal…
legal basis for JC rights, the consistency of judicial decisions in granting those rights, and the necessity for legal reform. Using a normative juridical approach supported by document analysis and expert interviews, the study examines Law No. 31/2014, SEMA No. 4/2011, and recent judicial decisions, including the high-profile cases of Richard Eliezer and Abdul Khoir. Findings reveal that while legal provisions exist, the absence of detailed indicators, formal mechanisms for status determination, and binding multi-institutional coordination leads to implementation gaps. Judicial discretion remains unchecked, resulting in unequal treatment of justice collaborators with similar contributions. The study concludes that a lex specialis law is urgently needed to standardize definitions, evaluation mechanisms, and inter-agency protection schemes. Recommendations include harmonization of technical norms, incorporation of JC recognition in verdicts, and alignment with UNCAC and UNTOC standards. This would strengthen legal certainty, uphold the principle of nulla poena sine lege, and enhance the effectiveness of the criminal justice system in addressing serious crimes through systemic cooperation.
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.
Abstract:Freight forwarding agreements in Indonesia frequently contain exoneration clauses that exempt logistics providers from liability for loss or damage, raising serious concerns regarding consumer protection. While such clauses…
ses are designed to manage contractual risk, they often conflict with the principles enshrined in Law No. 8 of 1999 on Consumer Protection (UUPK), particularly those ensuring fairness, good faith, and legal accountability. This study investigates the legality and ethical implications of exoneration clauses within standard-form freight forwarding contracts used by companies such as JNE, TIKI, and SiCepat. Employing a doctrinal legal research methodology, the study integrates statutory, conceptual, and case-based approaches to analyze primary legislation, judicial decisions, and relevant legal doctrines. It critically evaluates the use of these clauses in light of consumer rights, contract theory, and the economic impact on service quality. Findings reveal that exoneration clauses not only contravene the UUPK but also create systemic contractual imbalances due to the lack of negotiation opportunities and transparency. The study proposes a normative legal framework for reform, including clause classification, interactive consent mechanisms, and regulatory enforcement to ensure contractual fairness. This research contributes to both legal scholarship and policy development by highlighting the urgent need for doctrinal clarity and regulatory oversight in Indonesia's logistics sector.
Abstract:The flipped classroom model has increasingly been implemented as an alternative instructional approach in the digital era, including in Islamic Religious Education (IRE) at junior and senior high school levels. This article…
cle aims to systematically examine eight empirical publications from 2021 to 2025 that explore the application of this model within IRE contexts. The review focuses on instructional design, pedagogical outcomes, and implementation challenges. Findings from the analyzed studies suggest that applying the flipped classroom model in IRE can enhance students’ cognitive understanding, foster learning motivation, and develop critical and collaborative thinking skills. However, the effectiveness of this model depends heavily on the quality of digital learning design, the teacher’s readiness to facilitate active learning, and the ability to meaningfully integrate Islamic values into the learning process. In addition, this model faces several challenges, including limitations in technological infrastructure, lack of professional teacher training, and the need for curriculum adaptation. This study highlights the importance of systemic support and digital competency development among educators to ensure that flipped classroom implementation is not merely a technical strategy, but a means of strengthening the spiritual dimension and core values of Islamic education in the digital age.
Abstract: Derived from Halliday's systematic functional linguistics, register analysis is useful not only for discourse analysis but also for planning linguistically effective advertising. Register analysis takes into account…
count cultural context, situational context, including field, tenor and form, and human interpretation of text meaning. With this method, assuming that language is an embodiment of a social process, advertising can be designed according to the social reality of the target market. Keywords: register analysis, context of culture, context of situation
Abstract:This study examines how thematic organization contributes to the construction of state power and social positioning in international news discourse. Drawing on Halliday’s Systemic Functional Linguistics, with a specific…
c focus on Theme–Rheme structure, the study analyses a BBC news report published in November 2023 on the Russian Supreme Court’s decision to designate the so-called “international LGBT movement” as an extremist organization. Using a qualitative textual approach, the text is segmented into clauses and analyzed to identify patterns of thematic choice and progression. The findings reveal a consistent foregrounding of institutional actors, such as state authorities and legal bodies, in Theme position when reporting legal actions and policy decisions, while members of the LGBT community and civil society figures are predominantly thematized in clauses expressing reactions, personal experiences, and anticipated consequences. This asymmetric thematic distribution constructs a discourse in which state authority is positioned as the primary agent of action, whereas affected social groups are framed as respondents to institutional power. The study demonstrates that ideological meanings in news discourse may be realized implicitly through grammatical organization rather than explicit evaluative language, and it highlights the value of Theme–Rheme analysis for examining power relations in contemporary international news reporting.
Abstract:This paper discusses the use of Language Metafunction in a Tanjungbalai Malay language song “Angin Koncang (High Wind)”. This research aims to identify the ideology of the song as portrayed through words and action of the…
f the protagonist in this song. This research focused on every single word in the lyric. The study used qualitative and descriptive methods. The data collection was obtained from smule.com. The data was analyzed by using Language Metafunction theory by Halliday’s Ideational, Interpersonal, and Textual Meaning. The results of the research show that three dominant processes of language can be found are Material Process, Relational Process, and Mental Process; with the first mentioned being the dominant one. Also, by analyzing the lyric, it can be concluded that the ideology of the song is to promote an ideology of pragmatic survival and functional relationships