Journal of Economics, Management, and Accounting
Scripta Economica: Journal of Economics, Management, and Accounting is a scientific journal that publishes research articles, empirical studies, and theoretical reviews in the fields of economics, management, and accounting. This journal aims to serve as an academic platform for researchers, lecturers, students, and practitioners to develop and disseminate high-quality, relevant, and applicable scientific ideas and findings to address the challenges of today's economy and business.
The Role of External Auditors in Maintaining Compliance and Transparency of Financial Reports in Companies
This study examines the strategic role of external auditors in strengthening corporate compliance and transparency in financial reporting. In an increasingly complex business environment, companies are required to present financial statements that are reliable, accurate, and free from manipulation. As independent examiners, external auditors provide objective assurance regarding the fairness of financial information and help reduce information asymmetry between management and stakeholders. This research employs a literature review method by analyzing academic publications, accredited journals, and regulatory data to understand the contribution of external auditing to corporate accountability. The findings indicate that high-quality external audits enhance compliance with accounting standards, improve the disclosure of material information, and support companies in strengthening their internal control systems. Data from the Financial Services Authority (OJK) also show an increase in reporting violations, highlighting the urgent need for stronger independent oversight. External auditors play a critical role in detecting irregularities, preventing fraudulent practices, and ensuring that financial statements accurately reflect a company’s economic condition. The study concludes that external auditors are a vital component of modern corporate governance, as they reinforce reporting credibility and bolster public and investor trust.
Accountability, Compliance, External Audit, Financial Reporting, Transparency.
Copyright (c) 2025 Arya Saputra, Desilvia, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Public Sector Policies, Economic Contributions, and the Role of Local Government in Perceived Causes of Environmental Degradation: A Study on Participants of Kamu Fest 4.0 Central Kalimantan 2025
This research aims to analyze the influence of public sector policy, mining economic contribution, and local government roles on youth perceptions regarding the causes of environmental degradation in Central Kalimantan. The respondents were participants of Kamu Fest 4.0 in 2025. Using multiple linear regression analysis and primary survey data, the results show that public policy (X1), economic contribution (X2), and local government roles (X3) simultaneously have a positive effect on youth perceptions of environmental degradation (Y). Partially, public policy (X1) shows a significant effect, local government roles (X3) also show a significant effect, while economic contribution (X2) has a positive but insignificant influence. These findings highlight the importance of effective environmental governance to support sustainability.
Public Policy, Economic Contribution, Local Government, Youth Perception, Environment.
Copyright (c) 2025 Elpan Pino’o (Author) https://creativecommons.org/licenses/by/4.0
Optimizing Fixed Asset Cycle Audits Through Internal Control Evaluation and Audit Risk Analysis
This study examines the role of internal auditing in strengthening the effectiveness of fixed asset control within an organization through a descriptive qualitative approach supported by document analysis and literature review. The research highlights how structured audit procedures, supported by adequate documentation and consistent monitoring, contribute significantly to improving the accuracy and reliability of fixed asset records. The findings show that effective internal control systems, when integrated with competent audit practices, can reduce the risk of misstatements, asset misuse, and irregularities that may disrupt operational stability. Furthermore, the use of technology in asset monitoring, regular evaluations, and enhanced auditor competence play a crucial role in promoting transparency and accountability. This study underscores that the audit of fixed assets functions not only as a verification mechanism but also as a strategic instrument to support sustainable governance. The results are expected to provide practical insights for organizations seeking to optimize their asset management and internal audit processes to achieve better operational performance and financial integrity.
Internal Audit, fixed assets, internal control, audit effectiveness, asset management.
Copyright (c) 2025 Yunisa Sri Wahyuni, Rian Ridwan, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Performance and Financial Risk Assessment of PT Garuda Indonesia (Persero) Tbk Through Financial Ratio Analysis
This study aims to assess the financial condition and performance of PT Garuda Indonesia (Persero) Tbk during the 2020–2024 period, amid a major restructuring process triggered by the financial crisis that occurred during the COVID-19 pandemic. This study uses a quantitative descriptive approach with analysis of liquidity, activity, leverage, and profitability ratios. The results show that liquidity performance is below the aviation industry standard, namely a current ratio <200%, a quick ratio <100%, and a cash ratio <50%. The activity ratio (TATO) is also below 2x, reflecting suboptimal asset utilization. In terms of leverage, the debt-to-total-assets ratio is above 35%, the standard limit, thus reflecting a high funding structure burden. Meanwhile, profitability also shows fluctuating results: gross profit margins are below 30% and net profit margins are very poor in 2020–2021, improving significantly in 2022, but declining again in 2023–2024. The same pattern occurred with low returns on investment in 2020–2021, increasing in 2022, and then weakening again thereafter. Overall, these findings indicate that Garuda Indonesia's financial recovery after restructuring has not yet fully stabilized across all key indicators
Financial Ratio Analysis, Financial Performance, Corporate Restructuring, Leverage and Liquidity, Profitability and Activity.
Copyright (c) 2025 Anis Kamal, Bravo Sinukaban, Frans Zidane, Justin Fransiskus, Kristo Abner, Alvianus Kristian (Author) https://creativecommons.org/licenses/by/4.0
The Role of Internal Audit in Preventing Fraud to Improve Accountability and Performance of Business Entities
This study aims to analyze the role of internal audit in preventing fraud and its contribution to improving the accountability and performance of business entities. Using the Systematic Literature Review (SLR) method, this study examined indexed journals, proceedings, audit textbooks, and relevant professional guidelines. The analysis shows that internal audit serves as a primary mechanism for fraud prevention through risk identification, internal control evaluation, and recommendations for preventive and corrective improvements. Furthermore, internal audit has been shown to enhance accountability by ensuring that every activity within an entity is accounted for transparently and in accordance with procedures. Internal audit also contributes to improving entity performance through optimizing operational processes, efficient use of resources, and establishing a culture of integrity. These findings confirm that strengthening the internal audit function is a strategic step in realizing transparent, integrity-based, and competitive entity governance.
Accountability, Entity performance, Fraud, Internal audit, Internal control.
Copyright (c) 2025 Eva Arifah, Karina Kamista, Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Operational and Reputation Risk Management Strategies in Facing Global Market Dynamics: A Case Study of Nestlé
This study analyzes the operational and reputational risk management strategies implemented by Nestlé in navigating the increasingly complex dynamics of the global market. The analysis focuses on how the company integrates cross-functional risk governance, strengthens supply chain resilience, and reinforces public trust through sustainability initiatives and transparent communication. The research employs a literature-based method drawing from Nestlé’s official reports, academic publications, and relevant global management literature. The findings indicate that geographic diversification, digital transformation, and cost control measures effectively reduce operational volatility and sustain financial performance stability. Meanwhile, the enhancement of supplier ethics, improved quality standards, and strategic public communication play a crucial role in mitigating reputational risks. The integration of these two risk domains creates a synergistic framework that improves global-local adaptability, especially when the company encounters geopolitical disruptions, economic fluctuations, and shifting global consumer preferences. The study underscores that competitive advantage for multinational corporations is not solely determined by production capacity and internal efficiency, but also by the ability to manage public perception consistently across different markets. These findings are expected to contribute to the advancement of integrated risk management approaches within the global food industry.
Global Market, Integrated Management, Nestlé, Operational Risk, Reputational Risk.
essy Christien Novela Abigail Boru Raja Gukguk
Copyright (c) 2025 Jayanti Patricia, Desinta Nirmala Wulandari, Fransiska Kolo, essy Christien Novela Abigail Boru Raja Gukguk, Alvianus Kristian (Author) https://creativecommons.org/licenses/by/4.0
The Role of External Auditors in Strengthening the Financial Accountability of MSMEs in the Era of Digital Transformation in Indonesia
This study analyzes the development of digitization and strengthening of the MSME financial system in Indonesia as an effort to improve transparency, accountability, and the quality of internal control. Based on national data from BPS, Kemenkop UKM, and OJK, it appears that technology adoption by MSMEs has shown significant improvement, particularly in the use of digital recording, cloud accounting, and involvement in the digital ecosystem. However, internal audit capabilities still face various obstacles, including limited financial literacy, a lack of understanding of technology, and unpreparedness in implementing more structured control procedures. These findings indicate that digitalization not only improves operational efficiency but also plays a strategic role in strengthening financial governance, which is the foundation for access to financing and long-term growth. Therefore, continuous support from the government, financial institutions, and other stakeholders is needed to accelerate technology adoption and strengthen internal audit capacity so that MSMEs can develop sustainably amid the dynamics of the digital economy.
MSME digitization, internal control, cloud accounting, financial statements, internal audit.
Copyright (c) 2025 Nur Aliyah Rahma Saleh, Elis Oktaviani, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Evaluation of the Potential and Business Development Model of Magic Water in the Healthy Beverage Industry in the Modern Lifestyle Era
This study aims to evaluate the potential and business development model of Magic Water as part of the growing healthy beverage industry, in line with increasing public awareness of a more health-oriented modern lifestyle. The study was conducted through market data analysis from official international reports, literature studies, and a review of relevant natural beverage product development strategies. The results of the study show that global demand for functional and health drinks is experiencing stable growth, as reflected in market value projections for 2030 and 2033. These findings show that innovation based on natural ingredients, branding power, and digital marketing strategies are key determinants in increasing the competitiveness of Magic Water products in domestic and international markets. This research emphasizes the importance of integrating product uniqueness, health trends, and sustainable business approaches to ensure Magic Water can secure a strategic position and grow competitively amid the increasingly progressive dynamics of the global healthy beverage industry.
Magic Water, healthy drinks, modern lifestyle, business development, global market
Copyright (c) 2025 Bayuadi Bayuadi, M. Afrizal Miradji, Lizaristi Berliana Putri, Muhammad Rizky Rizal Maulana, Nurul Fitrianingtyas, Icha Nurul Laili Fitriah, Muhammad Arfian Bayu Nugroho (Author) https://creativecommons.org/licenses/by/4.0
Optimizing Internal Audits of Revenue and Expenditure Cycles to Prevent Fraud in the Digital Age
Digital transformation has fundamentally reshaped organizational operational and financial recording processes; however, this advancement also heightens the risk of fraud, particularly within revenue and expenditure cycles. This study aims to analyze the implications of strengthening internal audit through digital and risk-based approaches as a strategic measure to prevent fraud in the digital era. The research employs a literature review method, examining journals, books, and academic publications related to digital auditing, accounting information systems, and risk management. The findings indicate that optimizing internal controls in revenue and expenditure cycles through transaction verification, reconciliation, multi-level authorization, and continuous monitoring significantly reduces fraud risk. The integration of technologies such as accounting information systems, monitoring dashboards, and data analytics enables internal auditors to oversee transactions in real time, detect anomalies, and conduct risk-based audits effectively. The implementation of these strategies not only reinforces internal control but also supports more accurate and evidence-based managerial decision-making. This study emphasizes that the combination of adaptive internal audit practices and digital technologies constitutes a critical foundation for organizations to maintain financial integrity and prevent fraud in the era of digital transformation.
Copyright (c) 2025 Taufikurahman Taufikurahman, Naila Zalzabilah, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Conceptual Analysis of the Profit Concept in Sharia Accounting: Integrating Worldly Gains and Eternal Blessings
This study aims to clarify the concept of profit in Islamic accounting by emphasizing the importance of integrating worldly gains and blessings in the hereafter amid the rapid development of the Islamic finance industry. This study uses a descriptive qualitative method through a literature review of Islamic accounting literature, reporting standards, and previous research results discussing profit, fairness, and the value of blessings. The results and discussion show that the meaning of sharia profit is not only focused on financial achievements, but also on the quality of contracts, distributive justice, transparency, social contribution, and its conformity with maqāṣid al-sharī‘ah. The analysis shows a gap between the theory of Islamic profit and reporting practices, which still tend to be conventional, so that spiritual and ethical values are not optimally reflected. This study concludes that the reconstruction of the concept of profit requires the refinement of Islamic accounting standards, the strengthening of the role of the Sharia Supervisory Board, the improvement of financial literacy, and the development of an information system capable of capturing indicators of blessing so that profit reporting becomes more comprehensive, accountable, and beneficial.
Sharia Profit, Blessings, Sharia Financial Reporting, Maqāṣid Al-Sharī‘Ah, Profit Distribution.
Copyright (c) 2025 Lola Ramadhani, A. Syalfana Muthia Reski Amelia Putri, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
The Role of Sharia Accounting in Enhancing Public Trust Through Fairness and Beneficence in Islamic Financial Institutions
This study examines the strengthening of Islamic accounting practices in enhancing public trust through improvements in sharia compliance, governance quality, and transparency within Islamic financial institutions. Using a descriptive qualitative approach supported by literature analysis and simulated data for the 2022–2024 period, the research highlights significant progress in key indicators, including audit quality, contract compliance, governance effectiveness, financial performance disclosure, and social responsibility reporting. The findings reveal that Islamic financial institutions increasingly integrate ethical principles, justice, and maslahah into their reporting and operational practices, leading to more credible, consistent, and accountable financial information. This enhancement fosters stronger stakeholder confidence, reduces information asymmetry, and promotes sustainable institutional performance. Furthermore, the study emphasizes that Islamic accounting cannot be separated from its ethical foundations, as these values function as the core elements driving transparency and good governance. Overall, this research demonstrates that continuous improvement in sharia governance and disclosure practices serves as a critical factor in achieving long-term trust and resilience within the Islamic financial sector.
Islamic accounting, sharia compliance, governance, disclosure, public trust.
Copyright (c) 2025 Evi Irawati Aisya. A, Putri Ameliah, Nur Aipa, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Weighing Conventional and Sharia Accounting: Between Business Logic and Divine Values
This study aims to explore the philosophical and practical differences between conventional accounting and Islamic accounting in contemporary financial reporting. While conventional accounting places greater emphasis on economic efficiency and profitability, Islamic accounting highlights justice, trustworthiness, and obligations aligned with spiritual values. This research employs a qualitative descriptive approach through a literature review of relevant journals, as well as IFRS, PSAK, and AAOIFI standards. The findings indicate that conventional accounting seeks to provide information to support investment decisions, whereas Islamic accounting incorporates social and spiritual dimensions through reports such as zakat and Sharia compliance disclosures. The conclusion of this study suggests that by implementing Sharia standards, supervision by the Sharia Supervisory Board (DPS), and transparent reporting, both business value and spiritual principles can be harmonized.
Divine Values, Islamic Accounting, Konvensional accounting.
Copyright (c) 2025 Nesa Usdayanti, Nur Isma Arham, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
The Quality of Fixed Asset Cycle Audit Procedures and Their Implications for the Detection of Material Misstatements
This study discusses the importance of audit procedure quality in the fixed asset cycle as a determining factor in the auditor's success in detecting material misstatements in financial statements, given that fixed assets are accounts that are prone to estimation errors, recording inaccuracies, and internal control weaknesses. The research method used is descriptive qualitative with a literature study approach, where data is obtained through searching national and international journals published in the last ten years that are relevant to fixed asset audits, material misstatements, and the effectiveness of audit procedures, then analyzed using content analysis techniques to identify patterns and key findings. The results of the study show that the quality of audit procedures, especially those covering physical verification, document reconciliation, accounting estimate evaluation, and substantive testing, has a significant effect on the auditor's ability to detect material misstatements, especially in environments with high governance risks. The discussion shows that auditor competence, internal control effectiveness, and external governance conditions determine audit effectiveness. This study concludes that the implementation of robust, risk-based audit procedures improves the reliability of financial statements and strengthens stakeholder confidence.
Fixed Asset Audit, Audit Procedures, Material Misstatement, Internal Control, Audit Quality.
Copyright (c) 2025 Sukmawati Sukmawati, Nur Fadila Salju, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
The Role of Inventory Audits in Improving the Effectiveness of Internal Control in Trading Companies
This study aims to analyze the strategic role of inventory auditing in enhancing the effectiveness of internal control within trading companies by examining how structured audit procedures, risk-based assessments, and the integration of digital tools contribute to strengthening financial reporting reliability and operational efficiency. The research employs a descriptive qualitative approach using secondary data sourced from accredited journals, academic reports, and reputable publications focusing on inventory systems, internal audits, and risk mitigation practices. The findings highlight that inventory auditing is not only essential for ensuring the accuracy of stock records but also plays a crucial role in detecting irregularities, preventing manipulation, and reducing operational vulnerabilities that may disrupt the company’s financial stability. The results further indicate that effective inventory audits demand strong independence, adequate auditor competence, and the utilization of technology capable of identifying anomalies more rapidly compared to traditional methods. Moreover, companies that implement comprehensive audit procedures supported by robust internal controls tend to achieve higher transparency, improved decision-making quality, and stronger accountability. Overall, the study emphasizes that inventory auditing provides significant value by reinforcing governance practices and ensuring that trading companies can maintain accurate inventory information to support sustainable business performance.
Audit, Inventory, Risk, Control, Accuracy.
Copyright (c) 2025 Fatmawati Fatmawati, Nurtang Nurtang, Chaeril Akbar, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Application of Fixed Asset Audits in Supporting the Reliability of Financial Statements
This study aims to analyze the application of fixed asset audits in supporting the reliability of financial statements. Fixed assets are essential components that influence a company’s financial position and performance, making errors in recognition, measurement, or presentation potentially lead to material misstatements. Using a qualitative, literature-based approach, this study examines audit procedures such as document verification, physical inspection, ownership confirmation, and depreciation testing, all of which ensure the existence, fair valuation, and completeness of disclosures related to fixed assets. The findings indicate that a systematic audit not only detects recording errors and weaknesses in internal control but also enhances the fair representation of financial statements. Therefore, the implementation of a fixed asset audit significantly contributes to improving the reliability of financial information used by stakeholders.
Audit, Financial Statements, Fixed Assets
Copyright (c) 2025 Fika Andriana, Wafia Tamara, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Risk-Oriented Accounts Receivable Cycle Audit: Integrating Data Analysis to Detect Misstatements in Company Financial Statements
This study aims to analyze how risk-oriented accounts receivable cycle audits integrated with data analysis can improve the effectiveness of detecting misstatements in company financial statements. The increased complexity of accounts receivable assessment due to post-2020 economic volatility and the implementation of PSAK 71 based on Expected Credit Loss (ECL) requires auditors to use a more adaptive and technology-based approach. With a qualitative-descriptive research design and Multi-Locus Case Study, this study explores the application of Risk-Based Audit (RBA), Audit Data Analytics (ADA), and continuous auditing in several public accounting firms and internal audit units. The results show that digital auditing significantly improves the accuracy of anomaly detection, speeds up analysis, and strengthens the quality of accounts receivable reconciliation. The integration of big data analytics, fraud score models, and computerized accounting information systems expands auditors' ability to identify material risks, including fraud in existence and valuation assertions. In addition, internal audits have proven to play a strategic role in strengthening credit control, collection, and the quality of a company's cash flow. This study confirms that audit digitization and risk-based approaches are important foundations for maintaining the reliability of financial statements and corporate resilience in the digital era.
Accounts receivable audit, risk-based audit, data analytics audit, continuous audit, misstatement detection.
Copyright (c) 2025 Sitti Nur Syafika, Isma Dina, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
The Role of Internal Auditor Competence and Ethics as Determinants of Inventory Audit Quality
This study aims to analyze the role of internal auditor competence and ethics as determinants of inventory audit quality, considering that inventory is an asset component that is prone to misstatement and manipulation, thus requiring professional and ethical audit supervision. The study uses the Systematic Literature Review (SLR) method by examining various academic literature, professional standards, and empirical research results in the last ten years that are relevant to auditor competence, professional ethics, and inventory audit quality. The results show that internal auditor competence, including mastery of audit procedures, understanding of the inventory cycle, and analytical skills, consistently has a significant effect on audit quality. In addition, auditor ethics and integrity have been proven to be moral factors that maintain the objectivity, independence, and courage of auditors in revealing findings related to inventory irregularities. The discussion shows that inventory audit quality is the result of a combination of auditor technical competence, professional ethics, and internal control structure support. In conclusion, a quality inventory audit is achieved when organizations simultaneously strengthen the competence and ethics of internal auditors.
Auditor Competence, Auditor Ethics, Internal Audit, Audit Quality, Inventory
Copyright (c) 2025 Kurniati Kurniati, Andi Anugrah Tegar Pratama, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Analysis of the Role of Internal Audit in Improving the Effectiveness of Company Cash Flow Control
This study aims to analyze the contribution of internal audit in enhancing the effectiveness of cash flow control through a systematic review of publicly available literature, including official publications from OJK, BI, BPS, and academic journals. Using a Systematic Literature Review (SLR) approach, this research synthesizes findings related to audit procedures, internal control mechanisms, fraud prevention, and organizational governance. The results indicate that internal audit plays a crucial role in strengthening the structure of internal control, improving the accuracy of cash transaction records, and ensuring compliance with authorization and verification procedures. Internal audit also contributes to identifying early indicators of misstatements, irregularities, and fraud risks within the cash flow cycle. Moreover, the competence, independence, and professionalism of internal auditors significantly influence the quality of audit outcomes and the reliability of financial information produced. This study concludes that internal audit is a strategic function that not only safeguards company assets but also enhances financial transparency, accountability, and decision-making effectiveness. The implications highlight the need for continuous auditor development and the adoption of robust internal control frameworks to optimize cash flow governance.
Internal Audit, Cash Flow Control, Fraud Prevention, Internal Control System, Financial Governance
Copyright (c) 2025 Mawaddah Mawaddah, Marwah Marwah, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
Cash Cycle Audit: Role in Fraud Mitigation and Accountable Financial Management
This study aims to analyze the urgency of cash cycle audits in fraud prevention and accountability improvement through a Systematic Literature Review (SLR) approach. Cash, as the most liquid asset, has the highest vulnerability to fraud, making the implementation of audits in this cycle a fundamental element in strengthening financial governance. This study collects and reviews literature from national and international journals discussing internal auditing, cash control, fraud prevention, and accountability. Selection is based on relevance, methodological suitability, and source credibility, then analyzed using content analysis techniques. The results of the study show that cash cycle audits play a significant role in detecting discrepancies, assessing the effectiveness of internal controls, and ensuring compliance with operational procedures and regulations. In addition, the competence of internal auditors, the use of information technology, and the integration of internal control systems have been proven to strengthen fraud detection and prevention capabilities. These findings confirm that cash cycle audits not only serve as a verification tool, but also as a strategic mechanism to improve the transparency, accountability, and reliability of an organization's financial management.
Copyright (c) 2025 Fajri Auliah Salsabila, Lisa Susilah Roi Ratnam, Masyhuri Masyhuri (Author) https://creativecommons.org/licenses/by/4.0
The Influence of Perceived Ease, Perceived Benefits, Service Features, Promotions, and Security on the Decision to Use Dana E-Wallet Among Generation Z in Depok
With the development of financial technology and the increasing use of digital wallets, understanding the factors that influence users' decisions in choosing e-wallet services is becoming increasingly important. The purpose of this study is to analyze the influence of Perceived Ease, Perceived Benefits, Service Features, Promotions, and Security on the Decision to Use the DANA E-Wallet among Generation Z in Depok. The data used in this study is primary data obtained from an online questionnaire distributed using Google Forms. There were 210 respondents using non-probability sampling with the snowball sampling method. The variables in this study are perceived ease of use, perceived usefulness, service features, promotion, security, and usage decision as the dependent variable. The test tool used PLS-SEM with the help of SmartPLS 4.0 to process the data. The results showed that the variables of perceived ease, perceived benefits, service features, and security had a partial effect on the decision to use the DANA e-wallet among Generation Z in Depok, while promotion had no partial effect on the decision to use the DANA e-wallet among Generation Z in Depok. This study also shows that perceived ease of use, perceived usefulness, service features, promotion, and security simultaneously influence the decision to use the DANA e-wallet among Generation Z in Depok, and that the security variable has the greatest influence on the decision to use the DANA e-wallet among Generation Z in Depok.
fitur layanan, keputusan penggunaan, persepsi kemudahan, persepsi manfaat, promosi.
Copyright (c) 2025 Yuli Febriyani, Wardoyo Wardoyo (Author) https://creativecommons.org/licenses/by/4.0
Ethical Management Strategies in Building Stakeholder Trust and Corporate Reputation
Given that organizational integrity is a critical factor in navigating business competition and ensuring sustainable operations, this study is motivated by the significance of ethical practices, transparency, and accountability in corporate operations, which shape stakeholders’ perceptions of the company as a trustworthy and responsible entity. The study aims to analyze how the implementation of ethical management through internal policies, employee training, internal oversight, ethical leadership, corporate social responsibility programs, and corporate communication influences stakeholder perceptions and organizational reputation. The research employs a qualitative descriptive approach, utilizing secondary data from official company reports, annual reports, and internal and external stakeholder surveys. The findings indicate that companies consistently applying ethical management successfully reduce internal violations, enhance employee compliance, foster positive stakeholder perceptions, and strengthen the company’s reputation as a credible and responsible organization. These results underscore that ethical management strategies are not merely procedural formalities but serve as a fundamental pillar in cultivating long-term, harmonious relationships with stakeholders, enhancing loyalty, and supporting sustainable operations as well as competitive advantage.
Business Ethics, Corporate Reputation, Ethical Management, Stakeholders, Trust.
Copyright (c) 2025 Nanik Dwi Siswati, Berliana Indah Kusumaningrum, Tries Ellia Sandari (Author) https://creativecommons.org/licenses/by/4.0
Evaluation of the Accuracy of the Bankometer Model in Predicting Financial Distress of Rural Banks Whose Business Licenses Have Been Revoked by the OJK
This study aims to evaluate the accuracy of the Bankometer model in predicting financial distress in 22 rural banks (BPR) and rural bank cooperatives (BPRS) whose business licenses were revoked by the Financial Services Authority (OJK) during the period 2022–2024. The background of this study stems from the increasing number of failed rural banks, which indicates that the conventional ratio-based supervisory approach has not been fully effective in detecting early signs of performance decline. The method used is quantitative descriptive analysis using quarterly financial reports as secondary data and applying the Bankometer S-score calculation to classify the level of bank health. The results show that one year before the revocation of licenses, only a small portion of BPRs were in the distress category, while more than half were classified as very healthy. Two years earlier, the entire sample was even in the super sound category, so the model was unable to provide early signals of deteriorating efficiency and asset quality. These findings indicate that Bankometer is less sensitive to the operational dynamics of rural banks. This study concludes that the model needs to be revised to be more adaptive to the characteristics of microbanking risk
Bankometer, Financial Distress, BPR, Bankruptcy Prediction, Banking Stability
Copyright (c) 2025 Siti Atika Azzahrah, Tri Joko Prasetyo (Author) https://creativecommons.org/licenses/by/4.0
Integrating Artificial Intelligence into Modern Management: Opportunities, Challenges, and Impacts in the Era of Digital Transformation
This study examines the integration of intelligent technologies within modern management practices and highlights how digital transformation reshapes organizational structures and decision-making processes. Through a descriptive–qualitative approach supported by thematic synthesis of reputable scientific publications, international reports, and empirical findings from 2020–2025, this research identifies key opportunities, challenges, and managerial implications emerging from the adoption of advanced data-driven systems. The findings reveal that intelligent automation enhances managerial accuracy, operational efficiency, and strategic responsiveness by enabling real-time processing of organizational information. However, successful implementation depends heavily on employee readiness, structured governance, and the ability of leaders to develop strong analytical competencies. The study also notes that reliance on predictive systems requires continuous evaluation to minimize bias and ensure inclusive decision outcomes. Empirical evidence from global datasets further demonstrates the growing adoption of automated decision-making tools across various managerial functions. Overall, the research concludes that organizations capable of aligning technological capabilities with adaptive management strategies will strengthen their competitive advantage and improve long-term performance in the digital transformation era
Copyright (c) 2025 Mohammad Abdul Aziz Alwahedi, Durrin Ni’am, Mohammad Firmansyah (Author) https://creativecommons.org/licenses/by/4.0
Digital Economy Policies and Regulations in Indonesia: Analysis of Regulations by the Financial Services Authority, Bank Indonesia, Ministry of Communication and Digital Affairs, Digital Taxation, and Data Protection and Cybersecurity
Indonesia’s digital economy has grown rapidly over the past decade, driven by internet penetration, financial system digitalization, and cross-border trade integration. This growth creates opportunities as well as risks that require a comprehensive regulatory framework. This article analyzes three main policy pillars: (1) regulation by the Financial Services Authority (OJK), Bank Indonesia, and the Ministry of Communication and Digital; (2) digital taxation policy and cross-border digital trade; and (3) personal data protection and cybersecurity. The analysis combines empirical data, national regulations, and academic literature. The findings show that the success of digital economy regulation is largely determined by the consistency of law enforcement, coordination among authorities, and the readiness of institutions and businesses to meet global standards.
Cybersecurity, Digital Economy, Digital Tax, Financial Regulation, Personal Data Protection.
Copyright (c) 2025 M. Yusuf Bahtiar (Author) https://creativecommons.org/licenses/by/4.0
Application of ISO 31000 Principles in Strategic Risk Management: A Case Study on Kodak's Business Transformation Failure
This study analyzes the failure of Kodak’s business transformation by examining the company’s inability to implement the principles of ISO 31000 in managing strategic risks. Using a qualitative case study approach, the research highlights how Kodak underestimated digital disruption and failed to conduct comprehensive risk identification, objective analysis, and forward-looking risk evaluation. As a result, Kodak’s responses to digital innovation were reactive and fragmented, causing the company to lose competitiveness and ultimately file for bankruptcy in 2012. A comparative analysis with Fujifilm is presented to demonstrate how effective risk management can transform threats into strategic opportunities. Unlike Kodak, Fujifilm applied proactive risk identification, executed aggressive diversification, and restructured its organization to adapt to long-term technological shifts. These actions reflect the core principles of ISO 31000, particularly in integrating risk management into organizational decision-making and risk treatment. The study concludes that strategic risk management based on ISO 31000 is essential for companies facing technological disruption. Kodak’s failure and Fujifilm’s success highlight the importance of disciplined, structured, and adaptive risk management to ensure long-term business sustainability
ISO 31000, strategic risk, business transformation, Kodak, Fujifilm.
Copyright (c) 2025 Anantha Nisrina Zahirrah, Ibnu Alif Ifanialdy, Nasywa Nahdah Raniah, Alvianus Kristian Sumual (Author) https://creativecommons.org/licenses/by/4.0
Financial Risk Management in the Age of Cryptocurrency: A Comparative Approach to Digital Asset Volatility and Its Implications for Institutional Investment Portfolios
The development of cryptocurrency as a highly volatile digital asset has changed the landscape of institutional investment risk management and created a need for a more adaptive risk management approach. This study aims to analyze the volatility, correlation, and downside risk of cryptocurrency compared to traditional assets, as well as evaluate the effectiveness of hedging strategies in institutional portfolios. Using a quantitative-comparative research method with historical data analysis for the 2020–2024 period, this study measures volatility, Value at Risk, Conditional Value at Risk, cross-asset correlations, and assesses the impact of cryptocurrency allocation on portfolio efficiency. The results show that cryptocurrencies have much higher volatility and tail risk than stocks, bonds, or gold, so the optimal allocation is a small portion, namely 3–5 percent. Hedging strategies such as futures, options, and dynamic hedging have been proven to reduce risk, but their effectiveness is greatly influenced by market conditions and liquidity. This study concludes that the integration of cryptocurrency into institutional portfolios is only feasible if supported by a strong risk management framework, real-time monitoring, and hedging strategies that are responsive to changes in volatility.
Cryptocurrency, Volatility, Value at Risk, Institutional Portfolio, Hedging Strategy
Copyright (c) 2025 Abdul Rosid (Author) https://creativecommons.org/licenses/by/4.0
The Principles of Maslahah, Justice, and Ethics in International Trade from an Islamic Perspective: A Case Study of the Closure of Private Gas Stations and the Prohibition of Exploitation
This study examines the application of the Islamic principles of maslahah, justice, and international trade ethics in analyzing the recent issues surrounding the closure of private fuel stations (SPBU swasta) and the prohibition of exploitative practices in Indonesia’s energy distribution sector. Using a qualitative descriptive approach, the research explores policy documents, academic literature, and news reports to understand how disparities in fuel supply, import policies, and market coordination impact fairness and public welfare. The findings indicate that technical inconsistencies in fuel standards, restricted access to supply, and unequal market power between state-owned and private distributors generate structural imbalances that contradict Islamic ethical values. Furthermore, the study reveals that inadequate transparency and misaligned distribution mechanisms have contributed to inefficiencies that harm consumers and smaller market players. Through the lens of maslahah, the analysis highlights the importance of ensuring that energy policies produce collective benefits while minimizing harm. The study concludes that integrating Islamic ethical principles into energy governance is essential to achieve equitable access, maintain market stability, and prevent exploitation within the national fuel distribution system.
Maslahah, keadilan, etika perdagangan internasional, SPBU swasta, distribusi BBM
Copyright (c) 2025 Muhammad Naufal Faqiih, Fadhli Suko Wiryanto, Muhammad Faiz Andreaz Fawwaz (Author) https://creativecommons.org/licenses/by/4.0
Profitability and Cost Efficiency Analysis of Cireng Rujak Business as an MSME Culinary Product
This study aims to analyze the profitability and cost efficiency of rujak cireng as a micro, small, and medium enterprise (MSME) culinary product with market potential among students, university students, and the general public. The main issue addressed is the extent to which rujak cireng can generate optimal profits with limited capital and how production cost management supports business sustainability. A qualitative descriptive approach was employed, with data collected through direct observation of the production process, detailed recording of raw material, energy, packaging, and distribution costs, as well as daily sales simulations. Financial data were analyzed to calculate net profit, profit margin, and cost efficiency to assess the business’s financial feasibility. The results indicate that with a capital of IDR 765,000, the rujak cireng business can achieve daily revenue of IDR 2,000,000 and a net profit of IDR 1,235,000, yielding a profit margin of 61.75%. A simple cost structure, the use of local raw materials, and optimized home-based production processes contribute to high cost efficiency. These findings confirm that rujak cireng is a viable and profitable MSME culinary venture with long-term growth potential, providing significant economic benefits for both entrepreneurs and the surrounding community.
ADEL, Business Feasibility Study, Financial Analysis. Qualitative Descriptive, Rujak Cireng.
Copyright (c) 2025 Mohammad Afrizal Miradji, Bayuadi Bayuadi, Rahmi Tara Iman Aisyah, Putri Mariana, Tri Aji Pratomo, Nabila Mar’Atus Sholichah (Author) https://creativecommons.org/licenses/by/4.0
The Influence of Job Insecurity and Employee Engagement on Turnover Intention through Perceived Organizational Support (POS) as a Mediating Variable among Outsourcing Employees in PT. XYZ Sidoarjo
The high turnover intention among outsourced employees at PT. XYZ in Sidoarjo highlights the importance of understanding the psychological factors that influence the decision to change jobs. This study analyzes the influence of job insecurity and employee engagement on turnover intention, with perceived organizational support (POS) as a mediating variable. This study contributes theoretically by expanding the understanding of the dual role of POS in unstable employment relationships, and practically by providing implications for the management of outsourced workers in the manufacturing industry. Using an explanatory quantitative approach, data were collected from 189 outsourced employees and analyzed using PLS-SEM. The results show that job insecurity has a positive and significant effect on turnover intention. Employee engagement has a significant effect on POS, but does not directly reduce turnover intention. POS is proven to have a significant effect on turnover intention and mediates the inconsistent relationship between employee engagement and turnover intention. Meanwhile, POS does not mediate the effect of job insecurity on turnover intention. The research model was able to explain 30.5% of the variation in turnover intention, confirming that in the context of outsourcing, organizational support is not yet able to curb turnover intention when job insecurity remains high. Practically, this study recommends strengthening job security, clarifying career prospects, and improving the quality of organizational support relevant to outsourced employees to reduce turnover intention more effectively.
Job Insecurity, Employee Engagement, Perceived Organizational Support, Turnover Intention, Outsourcing.
Copyright (c) 2025 Pipit Fadilatul Fitri, Ida Aju Brahma Ratih, Abdul Halik (Author) https://creativecommons.org/licenses/by/4.0
The Influence of Work Discipline, Communication, and Role Clarity on Employee Performance with Social Support as a Moderating Variable at PT. XYZ Construction Surabaya
This study was conducted to examine the influence of work discipline, communication, and role clarity on employee performance and to analyze the moderating role of social support within the organizational context of PT. XYZ Construction Surabaya. The research was motivated by the recurring issues of declining performance and project delays, which indicated inadequate work discipline, ineffective communication flows, and role ambiguity among employees. Existing studies had not yet comprehensively integrated these variables in a single empirical model nor evaluated the moderating effect of social support in the construction industry setting, creating a research gap that this study intended to address. A quantitative research method was applied, involving 90 employees selected through a saturated sampling technique, and the data were analyzed using Structural Equation Modeling with Partial Least Squares. The findings showed that work discipline, communication, and role clarity positively and significantly affected employee performance, while social support did not moderate these relationships. The model explained 48.0% of the variance in Employee Performance (R2=0.480). The study contributed theoretically by confirming the dominant role of structural performance drivers over psychosocial support, and practically by providing managerial insights into improving performance in project-based environments. Suggestions for future research were provided based on identified limitations.
Work Discipline, Communication, Role Clarity, Social Support, Employee Performance, Construction Industry.
Copyright (c) 2025 Riska Carollina, Tri Andjarwati, M. Sihab Ridwan (Author) https://creativecommons.org/licenses/by/4.0