Abstract:Employee retention has become a critical concern for organizations because high employee turnover can reduce organizational productivity, increase recruitment and training costs, and negatively affect overall organizational…
nal performance. This study aimed to examine the influence of work-life balance, organizational support, and job stress on employee retention. A quantitative research approach with an explanatory research design was employed to investigate the relationships among the research variables. Data were collected through a structured questionnaire distributed to 150 employees selected using an appropriate sampling technique. The research instrument utilized a five-point Likert scale to measure work-life balance, organizational support, job stress, and employee retention. The collected data were analyzed using descriptive statistics, validity and reliability tests, classical assumption tests, and multiple linear regression analysis with the assistance of Statistical Package for the Social Sciences (SPSS). The illustrative findings indicated that work-life balance has a positive and significant influence on employee retention, organizational support has a positive and significant influence on employee retention, and job stress has a negative and significant influence on employee retention. Furthermore, the three independent variables simultaneously have a significant influence on employee retention and explain a substantial proportion of the variation in employee retention. Among the independent variables, organizational support was identified as the strongest predictor of employee retention. The findings suggest that organizations seeking to improve employee retention should develop comprehensive human resource management strategies by promoting work-life balance, strengthening organizational support, and implementing effective job stress management practices. Such initiatives are expected to enhance employee well-being, increase organizational commitment, reduce turnover intentions, and contribute to long-term organizational sustainability
Abstract:Food security in the low-carbon transition is increasingly shaped by industrial decarbonization, environmental restoration, and circular supply-chain coordination, yet these domains are often modeled as separate sustainability…
bility agendas. This study addresses the gap by developing a governance-centered structural equation model that links sustainable industrialization, sustainable remediation, circular supply chain governance, and food-security outcomes. Using the available 455-response dataset, the empirical test operationalizes industrialization intensity (IND) as a proxy for sustainable industrialization, digital-institutional capability (DIC) as a proxy for circular governance capability, and social-economic resilience (SER) as a proxy for food-system security. Confirmatory factor analysis supports the measurement model: standardized loadings range from .778 to .849 for IND, .804 to .835 for DIC, and .800 to .843 for SER; CR values range from .901 to .914; AVE ranges from .646 to .681; and model fit is acceptable (chi-square/df = 2.108, CFI = .961, TLI = .951, RMSEA = .049, SRMR = .038). The SEM results show that IND significantly predicts DIC (beta = .537, p < .001), DIC predicts SER (beta = .424, p < .001), and IND retains a direct effect on SER (beta = .337, p < .001). The indirect effect is significant (beta = .228, 95% CI [.178, .282]). The article contributes a cautious, data-grounded framework for analyzing food security as a governance-mediated outcome of low-carbon industrial transition.
Abstract:Public service innovation in the development of micro, small, and medium enterprises (MSMEs) in Indonesia has been historically dominated by the managerial logic of New Public Management, which positions efficiency and quantitative…
uantitative targets as the measure of success. This approach fails to build long-term relational capacity among entrepreneurs, government, and the broader supporting ecosystem. This article analyses HETERO SPACE (House of Entrepreneurs, Technology-driven Ecosystem, Resource Optimization, Supportive Programs, Accessible Network, Collaborative Environment), a public service innovation developed by the Cooperatives and SME Office of Central Java Province, which received outstanding recognition in the 2025 Public Service Innovation Competition. The analysis applies a New Public Governance framework with emphasis on two sub-theoretical dimensions, namely co-production and collaborative networking. The research approach is a qualitative case study drawing on secondary data from the official Public Service Innovation System, implementation reports of the Central Java Cooperatives and SME Office, and relevant academic literature. The central argument is that HETERO SPACE is not merely an expanded MSME assistance programmed but a transition in the role of government from a sole service provider to an ecosystem orchestrator that mobilizes resources across actors. Findings indicate that HETERO SPACE success rests on three interrelated conditions, namely a platform design that facilitates inter-actor encounters, trust built through repeated interaction, and institutional commitment from the provincial government to share authority with non-state partners. The article contributes to Indonesian public administration literature by shifting the analytical arena of co-production from the social and health sectors to economic governance, and by demonstrating that New Public Governance principles can be operationalized concretely at the subnational level.
Abstract:This study discusses the optimization of a company's financial performance through working capital management and capital structure policies. To increase profitability (ROA), companies require efficient cash conversion cycle…
ycle management and optimal funding supported by internal company characteristics. The research problem proposed is to determine how to achieve increased profitability in an automotive distributor company through the efficiency factors of Cash Conversion Cycle (CCC), Firm Size (Firm Size), Leverage (DER), and historical profitability factors (ROA_Lag). The sample of this study is the financial statements of PT New Ratna Motor (Nasmoco Group) in Semarang City for the 2021-2024 period, which were transformed into quarterly data (N=16). The results of data analysis indicate that this research model has a good level of feasibility (goodness of fit) with the ability to explain variations in profitability (Adjusted R Square) of 78.1% and successfully overcome autocorrelation interference. Simultaneously, there is a strong relationship between the independent variables and the company's profit movements. Partially, the Cash Conversion Cycle (CCC) variable is proven to have a negative and significant effect on profitability, while the Firm Size and Leverage variables have not shown a significant effect at the 95% confidence level.
Abstract:This study aims to analyze the effect of Price Earning Ratio (PER), Debt to Equity Ratio (DER), and Current Ratio (CR) on firm value, with firm size as a moderating variable, in industrial sector companies listed on the…
Indonesia Stock Exchange during the 2022–2024 period. This study employed a quantitative approach with an associative method. The data used were secondary data obtained from companies’ annual financial reports. The sample was determined using purposive sampling, resulting in 44 companies with a total of 132 firm-year observations. The data were analyzed using Moderated Regression Analysis (MRA), supported by classical assumption tests, correlation coefficient analysis, coefficient of determination analysis, simultaneous testing, and partial testing. The results of the moderation model show that firm size has a positive and significant effect on firm value, with a significance value of 0.043. Meanwhile, PER, DER, and CR do not have a significant effect on firm value after firm size and the interaction variables are included in the model. The moderation test results indicate that firm size is unable to moderate the effect of PER, DER, and CR on firm value, as all interaction variables have significance values greater than 0.05. Although PER has a positive and significant effect on firm value in the first model, this effect is no longer significant in the moderation model. The coefficient of determination in the moderation model is 12.1%, indicating that the model’s ability to explain variations in firm value remains limited. These findings indicate that firm size is a more dominant factor in explaining firm value than PER, DER, and CR in the moderation model.
Abstract:This study examines the effects of the Dow Jones Industrial Average (DJIA), world gold prices, world oil prices, and the rupiah exchange rate on the Composite Stock Price Index (CSPI) in Indonesia. The study uses monthly…
secondary data from January 2015 to December 2025, comprising 132 observations. CSPI data were obtained from the Indonesia Stock Exchange, DJIA, gold price, and oil price data were obtained from Investing.com, while exchange rate data were sourced from Bank Indonesia. The analysis employed the two-step Engle-Granger Error Correction Model (EG-ECM) to identify long-run relationships and short-run adjustment dynamics. The long-run results show that gold prices, world oil prices, and the DJIA have positive and significant effects on the CSPI, whereas the rupiah exchange rate has a negative but insignificant effect. In the short run, the exchange rate has a negative and significant effect on the CSPI, while gold prices, oil prices, and the DJIA have positive and significant effects. The Error Correction Term coefficient of -0.1325 is negative and significant, indicating that approximately 13.25% of short-run disequilibrium is corrected each month toward long-run equilibrium. These findings imply that investors and policymakers should closely monitor global market conditions, commodity price movements, and exchange rate volatility to support investment decisions and maintain Indonesian capital market stability
Abstract:In carrying out its integrated regulatory and supervisory function in the financial services sector, the Financial Services Authority (OJK) receives various reports from Financial Services Institutions (LJK), Issuers, and…
d Public Companies regarding the receipt and distribution of funds. The complexity of funding and financing relationships between financial service actors creates concentration risks that have the potential to disrupt financial system stability. Experiences from the 1998 Indonesian crisis and the 2008 global financial crisis demonstrate that concentration of exposures and interconnectedness between entities can exacerbate systemic risk. This study aims to identify current supervisory data analysis practices and propose the development of a concentration risk analysis that integrates the loan exposures of large debtor groups with their funding sources. The study used a qualitative approach through interviews, observations, and document analysis. The results indicate that OJK supervisors need an integrated concentration risk analysis across various LJKs and customer groups. Currently, the analysis process is still carried out manually, resulting in inconsistent results and difficult to replicate. The implementation of Supervisory Technology (SupTech) can improve supervisory effectiveness while transforming supervisors' tacit knowledge into explicit knowledge that is documented, standardized, and easily shared. This research contributes to the development of technology-based risk monitoring and knowledge management models in the financial services sector.
Abstract:This study aims to examine the effect of product quality, brand image, and promotion on customer loyalty at Rumah Tempe in Pontianak City. A quantitative approach with an associative research design was used. The sample…
consisted of 100 Rumah Tempe customers selected through purposive sampling, with the criteria of being at least 17 years old, having made purchases independently, and having purchased the product at least twice. Data were collected through questionnaires using a five-point Likert scale, supported by interviews and documentation. The data were analyzed using multiple linear regression, preceded by validity, reliability, and classical assumption tests. The results show that product quality, brand image, and promotion have positive and significant effects on customer loyalty, both partially and simultaneously. Among the three variables, promotion has the strongest influence, indicating that effective promotional activities play an important role in encouraging repeat purchases and customer recommendations. These findings imply that Rumah Tempe should consistently maintain product quality, strengthen its brand image, and optimize promotional strategies to increase customer loyalty in the competitive local snack food market.
Abstract:This study analyzes the dividend policy of PT Telkom Indonesia (Persero) Tbk (TLKM) during the 2020–2025 period using a quantitative descriptive approach and a longitudinal case study based on secondary data from audited…
ed financial reports. The variables analyzed include Dividend Per Share (DPS), Earnings Per Share (EPS), Dividend Payout Ratio (DPR), Dividend Yield, and Free Cash Flow (FCF), with trend analysis using the Compound Annual Growth Rate (CAGR). The results show that DPS grows 6.05% per year, higher than EPS of 1.87%, resulting in DPR increasing from 80.00% to 93.95% in 2024. Nevertheless, strong and stable operating cash flow ensures that dividends remain supported by FCF, so there is no indication of financial distress. However, the increasing FCF-to-dividend ratio indicates the company's increasingly limited reinvestment space. The decline in net profit of 20.48% in 2025 also increases the risk of dividend policy sustainability. Furthermore, the increase in dividend yield was more influenced by stock price declines than dividend growth. This finding suggests that SOE dividend stability reflects not only fundamental performance but also institutional pressure from the government as the controlling shareholder, supporting the relevance of Agency Theory and Catering Theory in explaining dividend policy of state-owned enterprises in emerging markets
Abstract:This study aims to analyze the simultaneous and partial effects of job satisfaction, employee loyalty, and work commitment on employee performance at PT Sulsel Citra Indonesia (Perseroda). This research adopts an associative…
tive quantitative approach. Data were collected through structured questionnaires distributed to 54 respondents drawn from a population of 114 permanent employees using simple random sampling. Multiple linear regression analysis was conducted using SPSS version 26. The finding that The F-test result (Fcount = 60.515 > Ftable = 2.196; sig. = 0.000) confirms that all three variables simultaneously exert a positive and significant effect on employee performance. Partially, job satisfaction (t = 3.485; sig. = 0.001) and work commitment (t = 11.685; sig. = 0.000) each have a positive and significant effect on employee performance, while employee loyalty (t = -3.080; sig. = 0.003) shows a negative and significant effect. The adjusted R² of 0.771 indicates that 77.1% of the variance in employee performance is explained by the three predictors. Work commitment emerged as the dominant predictor of employee performance, followed by job satisfaction. The negative effect of employee loyalty suggests that loyalty alone does not directly translate into higher performance unless it is accompanied by adequate motivation, job satisfaction, and organizational support. These findings are consistent with previous empirical studies conducted in the plantation and service sectors