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 examines the enforcement of criminal law in relation to the offense of aggravated theft as adjudicated in the District Court Decision of Amlapura No. 60/PID.B/2024/PN Amlapura, wherein the Defendant, Jana alias…
s Tobi, was found legally and convincingly guilty of committing aggravated theft as stipulated under Article 363 paragraph (1) point 4 of the Indonesian Penal Code (KUHP). The objective of this research is to analyze the application of criminal law in the aforementioned case, with a particular focus on two principal legal issues: (1) how law enforcement was implemented in the case in question, and (2) how the judicial decision aligns with the foundational legal principles of justice, legal certainty, and utility. The research employs a normative juridical method with a descriptive-analytical approach, and utilizes both the theory of law enforcement and the theory of criminal acts as the conceptual framework. The findings indicate that all elements of the criminal offense under Article 363 paragraph (1) point 4 of the Penal Code were fulfilled, and that the panel of judges duly considered both aggravating and mitigating factors in a balanced manner. Nonetheless, further analysis reveals that the Defendant’s role in the commission of the offense was more auxiliary in nature, thereby suggesting that the normative application of Article 55 of the Penal Code would have been more appropriate. This misapplication of legal provisions potentially gives rise to substantive injustice and opens the possibility for further legal remedies. The study concludes that although the formal procedures of law enforcement were conducted in accordance with prevailing legal standards, there exists a substantive deficiency in the identification of the perpetrator’s role, which adversely affects the overall fairness of the verdict. The novelty of this research lies in its critical analysis of the accuracy of judicial application of substantive criminal norms and the imperative of rigorous judicial reasoning in sentencing, aimed at reinforcing the integrity and consistency of the Indonesian criminal justice system.
Abstract:A culturally responsive approach to teaching has become an essential element in building an inclusive, relevant, and transformative educational ecosystem, particularly in the context of Indonesian language instruction at…
the primary school level. This study aims to analyze the implementation of the Culturally Responsive Teaching (CRT) approach in Indonesian language learning among second-grade students at SDN Sumobito 1 Jombang. Employing a descriptive qualitative method, data were collected through participatory observation, semi-structured interviews, and documentation. The data were thematically analyzed to identify patterns of CRT application in daily teaching practices. The findings indicate that student engagement in the learning process is relatively active; however, the integration of CRT principles remains suboptimal. This is evidenced by the limited use of teaching materials that reflect students' cultural backgrounds and the low level of teachers’ conceptual understanding of the CRT approach. The study underscores the importance of enhancing educators’ professional capacity through continuous training focused on pedagogies that are sensitive to local cultural contexts. In addition, the development of culturally responsive teaching materials needs to be accommodated within the curriculum to make learning more contextual and meaningful. The implications of these findings suggest that a systematic implementation of CRT has the potential to improve the quality of Indonesian language education by positioning cultural diversity as a pedagogical asset rather than a barrier. Consequently, the results of this study are expected to serve as a reference for the formulation of more inclusive, adaptive, and culturally equitable basic education policies in multicultural societies.
Abstract:Reading proficiency is a fundamental skill in primary education; however, children with special needs classified as slow learners often face significant challenges in developing early reading abilities due to limitations…
in phonological processing. This study aims to examine the effectiveness of the phonic method in improving the reading skills of slow learners through a structured intervention approach. The central research problem addresses how the phonic method can be appropriately adapted to overcome reading difficulties in children with learning delays. The subject of this study was a fifth-grade elementary school student who exhibited marked delays in recognizing letter sounds, constructing words, and understanding simple sentence structures. A case study approach was employed, involving a six-session individualized intervention designed in gradual stages. Each session focused on developing phonological skills, including phoneme identification, blending sounds into syllables, phoneme segmentation, and the introduction of complex patterns such as digraphs and diphthongs. The results demonstrated significant improvement in the subject’s reading ability, evidenced by increased accuracy in letter-sound recognition, reading simple words, and constructing short sentences. Although minor errors in pronunciation and word structure persisted, the subject’s consistent progress throughout the intervention confirmed the phonic method as an effective and applicable approach to teaching reading to slow learners. In conclusion, the phonic method successfully addressed phonological barriers through strategies tailored to the learner’s cognitive profile. The novelty of this study lies in its implementation of the phonic method as a step-by-step phonological intervention model within the context of inclusive primary education an area that remains underexplored and underutilized in both educational practice and research in Indonesia.
Abstract:The growing dominance of impulse buying within TikTok's live streaming commerce, particularly in the Fashion product segment, signifies a transformation in digital consumer behavior influenced by the dynamics of real-time…
e interactivity and incentive-based promotional strategies. This study empirically examines the effects of real-time interactivity and promotion incentive information on impulse buying behavior, with perceived trust serving as a mediating variable that explains the psychological pathway between digital stimuli and spontaneous purchase decisions. Employing a quantitative approach with an associative causal design, data were collected from 231 active TikTok users in Indonesia and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) version 4.0. The analysis reveals that both exogenous variables significantly enhance the tendency for impulsive purchases, both directly and indirectly through the mediation of perceived trust. Responsive real-time interactions and exclusive, time-sensitive promotions effectively foster consumer trust in sellers, which subsequently accelerates unplanned buying behavior. These findings advance theoretical discourse in digital marketing literature by emphasizing the critical integration of interactivity, promotional stimuli, and affective trust mechanisms in shaping purchasing decisions within persuasive and simultaneous digital environments. The practical implications of this study offer strategic insights for businesses, encouraging the optimization of interactive features and promotional tactics to establish credibility and drive instant sales conversions in the context of e-commerce live streaming.
Abstract:The advancement of digital technology has driven significant transformations in the employment landscape, marked by the emergence of new occupational roles such as freelance content creators—professions that are particularly…
ularly appealing to Generation Z. Despite operating independently and with high levels of flexibility, these freelance workers remain subject to complex psychosocial work dynamics, including job stress, rewards, motivation, and job satisfaction. This study aims to empirically investigate the influence of job stress and rewards on job satisfaction, while examining the mediating role of motivation within the context of digital freelancers. Employing a quantitative research design, data were collected through an online questionnaire distributed to 220 Gen Z freelance content creators in Indonesia. Data analysis was conducted using the Partial Least Squares Structural Equation Modeling (PLS-SEM) technique, facilitated by the SmartPLS 4 software. The results indicate that job stress exerts a significantly negative effect on both motivation and job satisfaction, whereas rewards have a significantly positive effect on these variables. Furthermore, motivation was found to partially and significantly mediate the relationship between job stress, rewards, and job satisfaction. These findings underscore the critical importance of affective dimensions in shaping the occupational well-being of freelancers in the digital era. The main contribution of this study lies in its extension of the theoretical framework surrounding non-traditional work dynamics, as well as its practical implications for the development of career management and well-being strategies tailored to platform-based freelance workers.
Abstract:This study investigates the influence of the work environment and quality of work life on individual work productivity among Generation Z, with mental health serving as a mediating variable within the structural model. Generation…
eneration Z, as a demographic cohort increasingly dominating the labor force, exhibits distinctive psychosocial characteristics that necessitate adaptive managerial approaches, particularly concerning psychological well-being in the workplace. The sample comprised 161 respondents employed across various industrial sectors in Indonesia, selected using a sampling technique based on Lemeshow’s formula for populations lacking explicit definition. Data were analyzed using the Structural Equation Modeling (SEM) approach to assess causal relationships among constructs and to validate the proposed theoretical model. Empirical findings reveal that both the work environment and quality of work life exert a positive and statistically significant influence on mental health. Furthermore, these two variables also directly contribute to enhanced work productivity. In addition, mental health is demonstrated to be a significant mediator in the relationship between the independent variables and productivity, thereby reinforcing their indirect effects. These results underscore the importance of organizational policy formulation that strategically positions mental health as a core element in human resource management systems. Accordingly, well-being-based workplace interventions not only enhance productivity but also foster a sustainable work ecosystem for the current and future workforce.
Abstract:The cognitive development of early childhood requires appropriate stimulation, one of which is through color recognition. Color block media serves as an educational tool that not only introduces various colors but also familiarizes…
amiliarizes children with geometric shapes, numerical concepts, and trains their thinking and memory skills. This study aims to implement color block media as an innovative learning method to effectively improve early childhood abilities in color recognition. Early childhood is a stage of exploration, where the learning process must be concrete, engaging, and enjoyable. Color block media combines visual and manipulative approaches that can foster curiosity and active involvement in the learning process. This learning-through-play activity encourages children to naturally identify, differentiate, and name colors. The study used a quantitative method with a pretest-posttest design to determine the effectiveness of the media. The research was conducted at KB Adduriyah 3 on October 29, 2024, and data analysis was performed using a t-test through SPSS 18 for Windows. The results showed a significance value (2-tailed) of 0.00. Since this value is smaller than the significance level (α = 0.05), the null hypothesis is rejected, and the alternative hypothesis is accepted. The results of the study demonstrate that color block media has a significant impact on improving children's color recognition skills. Additionally, the media also enhances children's active participation in learning activities. Therefore, color block media is highly recommended as a creative and effective learning strategy for educators and parents in supporting the cognitive development of early childhood.
Abstract:The Merdeka Belajar Kampus Merdeka (MBKM) program was developed by the Ministry of Education, Culture, Research, and Technology of the Republic of Indonesia as a step towards modernizing higher education and bridging the…
gap between the academic world and the workforce. Although it has been widely adopted in various universities, the efficiency of this program in enhancing students’ job readiness remains a key question. The aim of this research is to evaluate the implementation of the MBKM program and its impact on students’ job preparation, including both soft skills and hard skills. The background of the issue reveals a gap between higher education graduates’ competencies and the needs of the workforce, which has driven the government to initiate the MBKM policy as a solution to better prepare students for the dynamics of the labor market. The research problem focuses on the effectiveness of MBKM program implementation across various universities and how it affects students’ job readiness. Through a comprehensive literature review method, this study analyzes various scientific publications, policy reports, and evaluation studies related to MBKM from 2020 to 2024. The findings indicate that the implementation of MBKM still varies across higher education institutions with several challenges, such as infrastructure readiness, administrative systems, and stakeholder understanding. However, a positive correlation was found between student participation in the MBKM program, particularly in industry internships and collaborative projects, and improvements in adaptability, problem-solving skills, and technical competencies needed in the workforce. The novelty of this research lies in the comprehensive mapping of critical factors in the implementation of MBKM as well as the development of a sustainable evaluation framework that universities can use to enhance the effectiveness of the MBKM program in preparing graduates who are job-ready and globally competitive.
Abstract:Electricity has become an essential need in daily life and is a primary resource that supports various economic activities. Along with the growth of the population, technological advancements, and increased investments,…
the demand for electricity supply is projected to continue rising. In Indonesia, PLN (Perusahaan Listrik Negara) is the main electricity provider, but it often faces challenges in meeting this demand, especially with frequent power outages that disrupt industrial and societal activities. To address this issue, many companies have turned to using generator sets (gensets) as an alternative solution to ensure a stable energy supply. Although the use of gensets provides energy independence, it requires a significant investment. Therefore, an in-depth analysis of the efficiency and economic feasibility of using gensets is necessary. This study aims to analyze the use of gensets at PT. Teladan Prima Agro Bukit Permata Mill, located in Kaubun, East Kutai, focusing on technical-economic aspects such as Present Value (PV), Future Value (FV), Net Present Value (NPV), Internal Rate of Return (IRR), and Break Even Point (BEP). Data collected directly from the field includes genset specifications, electricity load, energy consumption, fuel usage, and genset operations. The analysis results indicate that the 455 KVA genset is capable of meeting the factory's electricity needs with an initial cost of IDR 649,649,996. The NPV calculation shows a value of IDR 880,380,813, with an IRR of 6.63%. The BEP is achieved in the 12th month with a profit of IDR 109,645,114. Based on these results, the operation of the genset at PT. Teladan Prima Agro Bukit Permata Mill is considered feasible and profitable in the long term.