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: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 examine the effect of service quality and customer intimacy on donor loyalty, with donor satisfaction as a mediating variable, at LAZNAS BMH Surabaya. The research adopts a quantitative approach using…
Partial Least Square Structural Equation Modeling (PLS-SEM) and involves 376 active donors as respondents. The results indicate that service quality and customer intimacy have significant positive effects on donor satisfaction and donor loyalty. Customer intimacy shows a stronger direct influence on donor loyalty compared to service quality. Furthermore, donor satisfaction significantly affects donor loyalty and serves as a partial mediating variable in the relationship between service quality and customer intimacy with donor loyalty. The findings highlight that donor loyalty in Islamic philanthropic institutions is not only driven by service performance but also by relational engagement and satisfaction. Therefore, integrating service excellence with relationship-based strategies is essential to enhance donor loyalty and ensure long-term sustainability. This study contributes to the literature by providing empirical evidence on donor behavior within the context of Islamic philanthropy and offers practical insights for improving donor relationship management.
Abstract:The growing emphasis on sustainable urban mobility has positioned electric vehicles (EVs) as a strategic component of transport transformation, particularly in developing cities with constrained infrastructure systems. One…
ne of the key challenges in supporting EV adoption is the provision of accessible charging infrastructure, which is closely related to user perception of acceptable service distance. This study aims to determine the optimal service distance of Electric Vehicle Charging Stations (EVCS) based on user preferences in Pekanbaru City, Indonesia, and to explore its implications for spatial planning. A quantitative approach was employed using a questionnaire survey of 51 respondents distributed across 15 administrative districts. All respondents were non-EV users, representing potential adopters in the early stage of transition. The survey captured preferred EVCS distance using interval-based categories, along with respondents’ awareness and intention toward EV adoption. The results indicate that the dominant preferred distance falls within the 2–4 km range, with an estimated mean of 3.08 km and a standard deviation of 1.98 km, resulting in an effective range of approximately 1–5 km. Considering urban road network constraints and detour factors, this range is further adjusted to 3–6 km to reflect more realistic travel conditions. These findings suggest that a relatively dense and accessible charging network is required to reduce range anxiety and support EV adoption. From a spatial planning perspective, a 4 km service threshold is proposed as a practical reference for EVCS deployment, representing the central tendency of user preferences within the adjusted range. This study highlights the importance of integrating user-based spatial parameters into infrastructure planning and contributes to the literature by emphasizing the role of perceived accessibility in shaping EV infrastructure demand in developing urban contexts.
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 understand the level of customer satisfaction with the product quality, service, and location at Galu Resto. Located in Wawotobi, Southeast Sulawesi, Galu Resto combines a natural concept with local architecture,…
chitecture, rice field views, and regional cuisine as key attractions for its customers. This study used a qualitative approach, using direct interviews and field observations. The results indicate that customer satisfaction is determined by several key factors: quality products made from fresh ingredients, friendly and responsive service, and a strategic location that creates an emotionally comfortable atmosphere. The research findings indicate that these three factors work synergistically, creating a dining experience that is not only functionally satisfying but also strengthens the emotional and cultural aspects of customers. Thus, Galu Resto is able to provide added value through an approach that combines local culture and a natural setting. This research is expected to provide a reference for the development of local culinary businesses with a model based on experience and cultural values.
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.
Abstract:This study aims to examine the role of resilience and mindset on adaptive behavior among MSME managers in facing digital transformation in the food business sector in Gorontalo City. This research uses a quantitative approach…
roach with a survey method. Data collection was conducted using a questionnaire, with a total sample of 54 respondents. The data analysis technique applied was multiple linear regression analysis. The results show that (1) resilience has a positive and significant effect on adaptive behavior, (2) mindset has a positive and significant effect on adaptive behavior, and (3) resilience and mindset simultaneously have a positive and significant effect on adaptive behavior. Descriptive findings based on business type indicate that the highest levels of resilience and adaptive behavior are found in restaurant businesses, while relatively lower levels are observed in bakery and pastry industries. Based on business duration, entrepreneurs who have operated longer tend to demonstrate better adaptive capabilities compared to newer businesses. This study recommends enhancing digital literacy training, strengthening entrepreneurial mindset, and providing business mentoring programs to improve the adaptive capacity of MSMEs in facing digital transformation.
Abstract:This study aims to analyze the influence of coaching-based academic supervision on teacher performance at SMA Negeri 1 Amurang and SMA Negeri 1 Motoling. The study employed a quantitative approach with an explanatory design.…
ign. The population consisted of 122 teachers, all of whom were included as the sample using a saturated sampling technique. Data were collected through a Likert-scale questionnaire that had been tested for validity and reliability. Data analysis included descriptive analysis, prerequisite tests, and simple linear regression. The results showed that coaching-based academic supervision does not have a significant effect on teacher performance (p > 0.05). The coefficient of determination (R²) value of 0.013 indicates that the contribution of coaching-based academic supervision to teacher performance is very low, accounting for only 1.3%, while most of the variation in teacher performance is influenced by other factors outside the research model. These findings indicate that coaching-based academic supervision has not been able to directly improve teacher performance, especially when its implementation is not carried out consistently and in depth. This study emphasizes that the effectiveness of coaching-based supervision is contextual and highly dependent on the quality of implementation and the support of the school’s organizational environment.