INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE) is a scientific journal that publishes articles in the Business field includes conceptual ideas in the fields of Economics, Accounting, Management, business. The scopes are Human Resource Management, Marketing Management, Financial Management, Production/Operational Management, Strategic Management, Islamic Business Management, Halal Industry Management, Hajj and Umro Management, Zakat and Waqf/ Islamic Philanthropy Management, Tourism Management, Banking Management, Industrial Management, Agribusiness Management, Business Administration. Journal Name : INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Abbreviation : INJOLE ISSN : 3026-0221 (online) Publication Frequently : monthly Chief of Editor : Profesor Madya Dr Hadenan Towpek Publisher : Adisam Publisher
COLLABORATIVE GOVERNANCE IN ACCELERATION OF BUSINESS LEGALITY AND ITS IMPACT ON COFFEE SHOP BUSINESS PERFORMANCE IN KENDARI CITY
The growth of coffee shops in Kendari City demonstrates the dynamics of an increasingly competitive urban economy. However, the business legalization process still faces obstacles in coordination, regulatory understanding, and suboptimal institutional support. This situation raises questions about how collaborative governance can accelerate business legalization while simultaneously boosting coffee shop business performance. This study aims to analyze the role of collaborative governance in accelerating business legalization and its impact on coffee shop business performance in Kendari City. The study used a qualitative approach with a phenomenological design. Data were collected through in-depth interviews, observations, and documentation with purposively selected informants, then analyzed using the Miles and Huberman model. The results show that collaborative governance plays a significant role in streamlining the business legalization process through actor involvement, inter-agency communication, forms of administrative support, and institutional responsiveness. Coffee shop operators understand business legality as a formal status that provides a sense of security, strengthens regulatory compliance, and opens access to business opportunities. The findings also show that legality contributes to increased customer trust, competitiveness, sustainability, and business development. The implication is that local governments need to strengthen licensing services that are more integrated, responsive, and mentored so that business formalities can drive sustainable business performance.
Copyright (c) 2026 INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
DIGITAL LEADERSHIP COMPETENCIES AND ORGANIZATIONAL ADAPTABILITY IN UNCERTAIN ECONOMIES
This study aims to analyze the relationship between digital leadership competencies and organizational adaptability in uncertain economic conditions through a literature review approach. The study employs a qualitative literature review by systematically examining recent scientific publications from reputable national and international journals, books, and scholarly reports relevant to digital leadership, organizational adaptability, and economic uncertainty. The collected literature was analyzed using thematic analysis to identify recurring concepts, patterns, and theoretical relationships. The findings indicate that digital leadership competencies, including digital literacy, strategic vision, innovation capability, data-driven decision-making, agile leadership, collaborative communication, and change management, play a pivotal role in strengthening organizational adaptability. These competencies enable organizations to respond proactively to environmental volatility, technological disruption, shifting market demands, and emerging organizational risks. The study concludes that digital leadership competencies represent a strategic capability for sustaining organizational performance and competitiveness in uncertain economies. The findings contribute to the development of digital leadership literature and provide practical insights for organizations seeking to enhance adaptive capacity amid rapidly changing business environments.
DETERMINANTS OF PAYLATER USAGE AMONG GENERATION Z IN DENPASAR CITY
The development of Buy Now Pay Later (PayLater) services in Indonesia has experienced rapid growth alongside the expansion of digital transactions and the high adoption of financial technology among Generation Z. Denpasar City, as the center of economic activities in Bali Province, exhibits relatively high levels of consumption and digital literacy, which may encourage the utilization of PayLater services. However, the factors influencing the intention to use PayLater have produced inconsistent findings across previous studies. This study aims to analyze the effects of performance expectancy, social influence, and trust on the intention to use PayLater among Generation Z in Denpasar City. The research was conducted in Denpasar City with a sample of 100 respondents selected using a purposive sampling technique. Data were collected through questionnaire distribution and analyzed using multiple linear regression analysis. The results indicate that performance expectancy, social influence, and trust simultaneously have a significant effect on the intention to use PayLater among Generation Z in Denpasar City. Partially, performance expectancy and trust have a positive and significant effect on the intention to use PayLater, while social influence has a positive but insignificant effect. These findings suggest that perceived benefits and trust in PayLater services are more dominant factors in shaping usage intention than social influence. The implications of this study indicate that PayLater service providers should enhance service benefits, system security, information transparency, and service credibility to increase the intention to use PayLater among Generation Z. Furthermore, the findings support the application of the UTAUT2 model in explaining the intention to adopt digital financial technology.
BOARD KNOWLEDGE AND SUSTAINABILITY REPORT QUALITY
This study aims to examine the effect of board knowledge on sustainability report quality. The research was conducted on cyclical consumer sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The sample was selected using a non-probability sampling method with a purposive sampling technique, resulting in 75 observations. Data were collected through documentation methods and analyzed using multiple linear regression analysis with SPSS software. The findings indicate that the educational level and experience of the board of commissioners have a positive effect on sustainability report quality. These results are consistent with agency theory and resource-based theory, suggesting that board knowledge strengthens the monitoring function in ensuring the quality of corporate disclosures. Higher educational attainment and extensive experience among commissioners enhance their capacity to evaluate and provide recommendations regarding sustainability reporting practices. In contrast, the educational level and experience of the board of directors do not significantly affect the quality of corporate sustainability reports.
THE EFFECT OF PROPERTY MARKET VALUE, PROPERTY TYPE, PROPERTY LOCATION AND LOAN-TO-VALUE RATIO ON THE RECOVERY RATE OF NON-PERFORMING LOANS:A Case Study at PT Bank Negara Indonesia (Persero), TbkAt Regional Office 16, Papua
The rise in the risk of non-performing loans (NPLs) highlights the importance of optimising the quality of property collateral to improve loan recovery rates. This study aims to analyse the influence of property market value, property type, property location and loan-to-value (LTV) ratio on the recovery rate of non-performing loans at PT Bank Negara Indonesia (Persero) Tbk Regional Office 16 in Papua. The study employs a quantitative approach using multiple linear regression. A sample of 100 data points was selected from a population of 192 using purposive sampling. The data used were secondary data in the form of loan-level data on non-performing loans sourced from the internal records of BNI Regional Office 16 in Papua. The results of the study indicate that Property Market Value and Property Location have a positive and significant effect on the Recovery Rate of Non-Performing Loans, whilst Loan-to-Value (LTV) has a negative and significant effect. Meanwhile, Property Type does not have a significant effect on the Recovery Rate of Non-Performing Loans. Property Market Value is the variable with the most dominant influence on the Recovery Rate of Non-Performing Loans. Furthermore, the results of the simultaneous test indicate that Property Market Value, Property Type, Property Location and Loan-to-Value (LTV) collectively have a significant effect on the Recovery Rate of Non-Performing Loans. These findings underscore the importance of the economic value of collateral, the quality of the property’s location and the management of the LTV ratio in supporting the effectiveness of non-performing loan recovery and strengthening banking risk management strategies.
THE MEDIATION ROLE OF JOB SATISFACTION ON PERCEIVED ORGANIZATIONAL SUPPORT TOWARDS ORGANIZATIONAL COMMITMENT OF MALINI ULUWATU RESTAURANT EMPLOYEES
The objective of this research is to investigate and clarify how organizational commitment is influenced by perceived organizational support, utilizing job satisfaction to mediate this relationship. Through a quantitative methodology, this research intends to offer a deeper understanding of the mechanisms by which favorable organizational perceptions boost commitment via enhanced worker satisfaction. The empirical observation targeted 98 staff members of the Malini Uluwatu Seafood & Sunset Restaurant, employing a census or saturated sampling technique within a non-probability sampling framework. Data collection was carried out through interviews and questionnaires. The analysis technique used is Structural Equation Modeling (SEM) using the Partial Least Square (PLS) approach. The results of the analysis show that 1) perceived organizational support has a positive and significant effect on employee organizational commitment, 2) perceived organizational support has a positive and significant effect on employee job satisfaction, 3) job satisfaction has a positive and significant effect on employee organizational commitment, 4) job satisfaction mediates the effect of perceived organizational support on employee organizational commitment in a complementary partial. The implications of this study theoretically support the findings of previous studies through the perspective of Social Exchange Theory. The practical implications of this study provide policy references for organizational leaders and management to increase employee organizational commitment through perceived organizational support and job satisfaction.
YOUTH ENTREPRENEURSHIP AND RURAL ECONOMIC TRANSFORMATION IN DEVELOPING COUNTRIES
Youth entrepreneurship is increasingly recognized as a strategic instrument for driving rural economic transformation in developing countries. Young people's involvement in entrepreneurial activities not only contributes to job creation and increased community incomes but also encourages innovation, economic diversification, and strengthened rural competitiveness. This study aims to analyze and synthesize previous research findings on the role of youth entrepreneurship in rural economic transformation in developing countries through a systematic literature review approach. The research method employed a literature review, examining various relevant scientific articles from reputable international and national journals. The study's results indicate that youth entrepreneurship significantly contributes to increasing local economic productivity, reducing unemployment and youth labor migration to urban areas, and accelerating the adoption of technology and innovation in the rural sector. Furthermore, the success of rural economic transformation is strongly influenced by government policy support, access to entrepreneurship education, strengthening the business ecosystem, and utilizing digital technology. This study confirms that youth entrepreneurship development can be an effective development strategy for creating inclusive and sustainable rural economic growth in developing countries.
OPTIMIZATION OF GRAFTING TECHNIQUES USING TRICHODERMA ON LIBERICA COFFEE IN SAMBAS
Sambas Liberica coffee holds significant strategic value as a leading local commodity. The main challenge on the ground is low productivity due to suboptimal propagation techniques. Many farmers still rely on generative propagation (from seeds), which results in plants with inconsistent traits and suboptimal growth. Vegetative propagation has the potential to accelerate the regeneration of high-quality, uniform plants. High-quality coffee seedlings can be obtained through vegetative propagation using the shoot-grafting method. There is a need to identify the most effective vegetative propagation technique for Sambas Liberica coffee. This study aims to determine the optimal propagation technique based on germination and growth success rates. In this study, vegetative propagation techniques will be tested, specifically top-grafting, as well as the use of Trichoderma-treated growing media. The research was conducted in the greenhouse of the Agribusiness Department at the Sambas State Polytechnic. The study subjects were Liberica coffee seedlings; the rootstocks were 7-month-old seedlings, and the scions were obtained from Liberica coffee parent trees in Kartiasa Village. The experimental design used in this study was a two-factor completely randomized design (CRD) with three replicates. The results showed that growing media treated with Trichoderma yielded a 36% higher success rate for topgrafting. The oblique grafting method yielded a higher success rate of 39%, compared to the center grafting method, which had a success rate of 14%.
ANALYSIS OF CAPITAL MARKET REACTIONS TO THE ANNOUNCEMENT OF THE PPATK POLICY ON THE BLOCKING OF DORMANT ACCOUNTS IN 2025(A Case Study of LQ45 Banking Stocks Listed on the Indonesia Stock Exchange)
The reaction of the capital market to a particular event is an important aspect for investors to observe in making future investment decisions, as it may influence fluctuations in stock market prices. This study aims to examine the capital market reaction resulting from the 2025 announcement of the Financial Transaction Reports and Analysis Center (PPATK) policy regarding the blocking of dormant accounts, which may affect investor confidence in banking companies and investment activities in Indonesia. This study constitutes a semi-strong form efficient market hypothesis test employing the event study method with an 11-day observation period on banking sector companies included in the LQ45 Index on the Indonesia Stock Exchange, selected using purposive sampling. The expected return in this study was calculated using the market-adjusted model. The hypothesis testing method applied was the Wilcoxon signed-rank test. The results indicate that there were no significant differences in the average values of cumulative abnormal return and trading volume activity before and after the announcement of the PPATK policy on the blocking of dormant accounts in 2025. These findings suggest that the announcement of the PPATK policy is consistent with the semi-strong form of market efficiency theory, indicating that no investors were able to consistently obtain abnormal returns because the market adjusted rapidly to the announcement information. Furthermore, the capital market did not perceive the dormant account blocking policy as relevant information capable of altering investment decisions in banking stocks.
SHARIA MARKETING MANAGEMENT IN INCREASING FURNITURE SALES AT UD. RANDU MELATI MEUBEL PEJATEN BONDOWOSO
This study analyzes the implementation and contribution of sharia marketing management in increasing sales at UD. Randu Melati Meubel Pejaten Bondowoso. The inquiry is grounded in the premise that marketing in Islamic business is not merely an instrument for selling products, but a managerial process that creates value through honesty, responsibility, justice, transparent communication, and mutual consent. A qualitative field research design was employed. Data were collected through observation, in-depth interviews, and documentation involving the business owner, production employees, marketing personnel, and consumers of UD. Randu Melati Meubel. The data were analyzed using an interactive qualitative model consisting of data condensation, data display, conclusion drawing, and verification. The findings show that sharia marketing management is implemented through five major principles: shiddiq, amanah, tabligh, al-adl, and an-taradhin. Shiddiq appears in truthful product information, accurate specification disclosure, and the avoidance of exaggerated claims. Amanah is reflected in responsible service, fulfillment of custom orders, and willingness to handle complaints. Tabligh is realized through clear promotion using WhatsApp, Facebook, direct product displays, and word-of-mouth communication. Al-adl is reflected in fair pricing based on material cost, labor, work complexity, and reasonable profit. An-taradhin is practiced through transactions based on full information and voluntary agreement. These practices strengthen consumer trust, satisfaction, repeat purchasing, word-of-mouth recommendation, and customer loyalty. The study concludes that sharia marketing management functions both as Islamic business ethics and as a practical strategy for improving the competitiveness and sustainability of a small furniture enterprise.
FINANCIAL PATHWAYS LINKING GREEN LENDING TO CORPORATE VALUATION
The expansion of sustainable finance has increased attention to green lending as a mechanism for promoting environmental objectives while strengthening corporate value. Despite its growing adoption, evidence regarding the value implications of green lending remains inconclusive, particularly within emerging banking markets. This study evaluates the contribution of green lending to corporate valuation and examines whether credit risk and profitability function as financial pathways through which such effects may occur. The analysis is based on panel data from four Indonesian KBMI 4 banks covering the period 2015–2024. Green lending is measured using the Green Lending Ratio, corporate valuation is proxied by Tobin’s Q, credit risk is represented by the Non-Performing Loan ratio, and profitability is measured by Return on Assets. A path analysis approach employing panel regression with bank-clustered robust standard errors is applied. The results reveal that green lending contributes positively to corporate valuation. Credit risk exhibits a negative association with valuation, whereas profitability demonstrates a positive relationship. However, neither credit risk nor profitability significantly transmits the effect of green lending on valuation. These findings suggest that capital markets reward sustainability-oriented lending initiatives, while corporate valuation continues to depend largely on financial performance and asset quality.
THE ROLE OF BRAND IMAGE IN MEDIATING THE EFFECT OF E-WOM ON REPURCHASE INTENTION AT THE FRONTIER HOUSE COFFEE SHOP
The growing number of coffee shops in Denpasar, Bali has created intense market competition, pushing businesses to find effective ways to sustain consumer repurchase intention. In the digital age, E-WOM has emerged as a key factor shaping how consumers perceive brands and make purchasing decisions. This study aims to analyze the influence of E-WOM on repurchase intention and explore the mediating role of brand image at The Frontier House Coffee Shop, Denpasar. A quantitative method was adopted, with data collected through online questionnaires distributed to 120 respondents using purposive sampling. Data were then processed through path analysis, Sobel test, and VAF. Results show that E-WOM has a positive and significant effect on both repurchase intention and brand image, while brand image similarly contributes positively to repurchase intention. Mediation analysis further confirms that brand image acts as a partial mediator between E-WOM and repurchase intention. These findings suggest that favorable online reviews and active digital engagement can reinforce brand perception and motivate customers to return. Accordingly, coffee shop operators are encouraged to actively manage their digital reputation and consistently strengthen brand image as a long-term strategy for building customer loyalty and sustaining repurchase behavior.
THE EFFECT OF QUALITY OF SERVICE, CUSTOMER EXPERIENCE, AND PROMOTION ON CUSTOMER SATISFACTION (A Study at BSH Coffee in Denpasar City)
This study aims to examine the effects of quality of service, customer experience, and promotion on customer satisfaction using the Expectation Confirmation Theory as the theoretical foundation. The theory posits that customer satisfaction is formed through the alignment between customers’ initial expectations and the actual performance of the service received. A quantitative research approach was employed, with data collected through questionnaires distributed to active customers of BSH Coffee in Denpasar City. The findings indicate that quality of service has a positive and significant effect on customer satisfaction, suggesting that higher service quality leads to greater customer satisfaction. Customer experience also demonstrates a significant positive influence, as favorable experiences enhance customers’ perceptions of the value provided by the service. Furthermore, promotion significantly affects customer satisfaction by shaping customers’ initial expectations before consuming the products or services offered. Simultaneously, the three independent variables were found to contribute significantly to customer satisfaction. These findings highlight the importance for businesses to continuously improve service quality, create memorable customer experiences, and develop effective promotional strategies to meet and exceed customer expectations in accordance with the principles of Expectation Confirmation Theory.
THE DYNAMICS OF MSME MARKETING NETWORK DEVELOPMENT IN ENCOURAGING THE WELFARE OF BUSINESS ACTORS
Marketing network development is a crucial issue for MSMEs because not all business owners are able to transform social relationships and digital access into sustainable economic strength. In Kendari City, limited networks, digital literacy, and reliance on informal relationships remain obstacles to improving business prosperity. This study aims to analyze the experiences of MSME owners in building marketing networks and understand their contribution to business prosperity. The method used is qualitative research with a phenomenological approach through in-depth interviews, observation, and documentation of purposively selected informants. The results show that marketing networks are understood as relational capital that expands market access, strengthens trust, and maintains income stability. The use of digital media such as WhatsApp, Facebook, and Instagram also help expand promotional reach despite still facing limited technological literacy. These findings confirm that MSME prosperity is not solely determined by product quality. But also, by the quality of the socially and digitally built networks. Consequently, strengthening MSMEs needs to be directed at developing collaborative networks, digital literacy, and supporting an inclusive marketing ecosystem.
TRADERS’ STRATEGIES FOR MAINTAINING FAMILY FINANCIAL STABILITY IN THE DIGITAL AGE FROM THE PERSPECTIVE OF ISLAMIC BUSINESS ETHICS: A COMPARATIVE STUDY AT THE MAIN MARKET AND SENENAN TANGGUL MARKET IN JEMBER
This study aims to analyze traders’ strategies for maintaining family financial stability in the digital age from the perspective of Islamic business ethics through a comparative study at the Central Market and Senenan Tanggul Market in Jember. This study employs a qualitative approach using a descriptive-comparative method. Data were collected through in-depth interviews, direct observation, and documentation of purposively selected active traders. Data analysis was conducted using an interactive model that includes data reduction, data presentation, and drawing conclusions. The results indicate that the financial stability of traders’ families is determined by three main factors: digital adaptability, effective financial management, and the application of Islamic business ethics. Traders at Pasar Induk demonstrate a higher level of digital adaptability through the use of social media and digital platforms, enabling them to expand their market reach and increase income by approximately 20–25%. In contrast, merchants at Senenan Tanggul Market are still dominated by conventional systems, which result in limited market access and stagnant income. Furthermore, the application of Islamic business ethics principles—such as honesty, fairness, and trustworthiness—has been shown to increase consumer trust and support business sustainability. This study concludes that the integration of digitalization and Islamic business ethics is an effective strategy for maintaining the financial stability of traders’ families. However, the digital literacy gap, limited capital, and access to technology remain major obstacles that require policy intervention through training and the empowerment of traditional traders.
THE MODERATING ROLE OF SELF-CONTROL ON THE INFLUENCE OF PRODUCT QUALITY AND DISCOUNT PROMOTION ON BUYING DECISION OF HALAL COSMETICS ON E-COMMERCE
This study aims to analyze the influence of product quality and discount promotions, as well as the moderating role of self-control on halal consumers’ purchasing decisions within the e-commerce ecosystem. The widespread implementation of aggressive digital marketing strategies frequently triggers impulsive consumption behavior, thereby necessitating a deeper examination of how the internal characteristics of Muslim consumers are capable of mitigating such external stimuli. A quantitative approach was employed in this research involving 250 Muslim respondents who were active users of seven leading halal cosmetic brands. Primary data were collected through questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) through SmartPLS software. The findings reveal that halal product quality and discount promotions exert positive and significant direct effects on purchasing decisions. Furthermore, this study demonstrates that self-control significantly functions as a negative moderator, weakening the influence of discount promotions on purchasing decisions. These results indicate that the stronger the self-control possessed by Muslim consumers, the lower their sensitivity toward the temptation of price discounts, thereby ensuring that purchasing activities remain within the boundaries of actual needs (al-hajat). The implications of this study emphasize the importance for halal cosmetic industry practitioners to shift from price-based marketing strategies toward value-based marketing approaches that prioritize product quality integrity and ethical consumption values.
AN ANALYSIS OF THE ROLE OF HUMAN RESOURCE MANAGEMENT IN IMPROVING EMPLOYEE PERFORMANCE IN THE DIGITAL AGE
This article discusses the role of Human Resource Management (HRM) in enhancing employee performance in the digital age. Rapid technological changes have prompted organisations to adopt more strategic, effective, and digital-based human resource management systems. HRM no longer functions merely as an administrative unit but also as a strategic partner involved in recruitment, training, competency development, performance appraisal, and the creation of an adaptive and innovative work environment. This study employs a literature review method, examining various relevant sources from books, journals, and scientific articles. The findings indicate that the implementation of appropriate HRM strategies, such as the digitalisation of HR processes, employee competency development, data-driven performance appraisal systems, and enhanced employee engagement, can make a significant contribution to improving employee performance. Consequently, HRM plays a vital role in supporting both individual productivity and organisational competitiveness amidst the ongoing digital transformation.
BUSINESS ANALYSIS OF PROCESSED JELLYFISH PRODUCTS AS A TRADITIONAL SOUVENIR FROM PALOH
The local community has not yet fully utilised the potential of the marine resources in Paloh Sub-district, specifically jellyfish. In addition to the high volume of jellyfish caught in the area, Paloh Sub-district's tourist attractions are always bustling with visitors. However, despite the tourism potential, there is a lack of distinctive souvenirs for tourists to take home. This presents a business opportunity for suppliers of distinctive Paloh souvenirs. Field data from this study indicate that, during the season from around February to April, processing plants in Paloh Sub-district can yield 10–40 tonnes of processed jellyfish. These products are hard to find elsewhere, making them a potential signature souvenir for Paloh Sub-district. Preserved processed jellyfish, packaged in small containers, represent an innovative, affordable product that is easy for tourists to carry. The product has a shelf life of 1–2 years. A business analysis of the jellyfish processing venture indicates that it is viable. The feasibility analysis shows total costs of IDR 1,580,000, revenue of IDR 3,150,000, a profit of IDR 1,570,000, an R/C ratio of 2.006, a production BEP of 45.14 packs, and a price BEP of IDR 17,555.6.
RECONSTRUCTING THE PARADIGM OF PRODUCTIVE WAQF: A MULTI-SECTOR MANAGEMENT MODEL FOR DEVELOPING AN INCLUSIVE ECONOMIC ECOSYSTEM IN RURAL COMMUNITIES
Productive waqf is one of the Islamic social finance instruments that holds significant potential to promote inclusive economic development. However, in many regions, its management practices remain largely consumptive and have not yet been integrated across multiple sectors. This study seeks to reconstruct the paradigm of productive waqf through a case study of Masjid Al-Huda as a model of multi sectoral management in developing an inclusive economic ecosystem within rural communities. This research adopts a qualitative descriptive approach employing participatory observation, in-depth interviews, and documentation techniques for data collection. The findings indicate that the management of productive waqf at Masjid Al-Huda is implemented through a structured POAC framework (Planning, Organizing, Actuating, and Controlling), supported by RAPBM instruments, ijarah contracts, accountable financial administration, and supervision grounded in both administrative governance and local wisdom. The waqf assets, encompassing 12.7 hectares of land, are strategically managed to generate and distribute benefits across the agricultural, educational, and micro-enterprise sectors. A major finding of this study is the emergence of an economic magnet effect, whereby waqf investment in the educational sector organically stimulates economic demand for micro, small, and medium enterprises (MSMEs) within the surrounding community. This model demonstrates that mosque-based productive waqf management in rural areas can function as a catalyst for inclusive economic growth by simultaneously empowering farmers, educators, and micro-entrepreneurs.
THE DEVELOPMENT MODEL OF PESANTREN ECONOMIC INDEPENDENCE THROUGH FOUNDATION-OWNED BUSINESS ENTITIES IN MIFTAHUL ULUM LUMAJANG BOARDING SCHOOL
Islamic boarding schools (pesantren) have a strategic role not only as Islamic educational institutions, but also as centers of social and economic empowerment for the surrounding community. In response to the need for institutional sustainability, pesantren are required to develop economic independence through productive and professionally managed business activities. One of the strategies implemented is the establishment of a Foundation-Owned Business Entity (Badan Usaha Milik Yayasan / BUMY), which functions as an instrument to strengthen financial independence and support educational development. This study aims to analyze the development model of pesantren economic independence through BUMY at Pondok Pesantren Miftahul Ulum Lumajang. This research uses a qualitative method with a case study approach. Data were collected through observation, in-depth interviews, and documentation involving foundation administrators, business unit managers, students, alumni, and relevant community actors. The findings show that BUMY contributes to creating alternative sources of income for the pesantren through several business units, including supermarkets, agriculture, livestock farming, and laundry services. The management of these business units also involves students and alumni, thereby supporting entrepreneurship education and strengthening practical economic skills. However, the development of BUMY still faces several challenges, particularly limited capital, managerial capacity, digital marketing, and product competitiveness. These challenges can be addressed through capacity-building programs, professional governance, innovation, and strategic partnerships with external stakeholders. The study concludes that BUMY can serve as an effective model for developing pesantren economic independence when supported by Islamic values, professional management, and sustainable collaboration. Nevertheless, further research is needed to measure its long-term impact and examine the possibility of replicating this model in other pesantren with different institutional and socio-economic characteristics.
HOW SUSTAINABLE INVESTMENT SHAPES CORPORATE VALUE IN INDONESIAN ENERGY FIRMS
Growing demands for sustainable transformation have encouraged companies to adopt responsible investment practices within operational activities. However, existing empirical findings concerning the association between sustainable investment and corporate value remain inconsistent in environmentally sensitive industries. The present research examines how sustainability-oriented expenditures influence corporate performance appraisal among Indonesian energy firms by incorporating ESG disclosure and financial performance as mediating variables. A quantitative explanatory design was employed in this analysis by utilizing secondary information obtained from corporate annual publications and sustainability disclosures of petroleum, natural gas, and coal enterprises traded on the Indonesia Stock Exchange throughout the 2020–2024 period. Based on purposive sampling criteria, 65 firm-year observations from 13 companies were included in the analysis. Multiple regression and path analysis were employed to examine direct and indirect relationships between the variables. The findings reveal that sustainable investment positively affects financial performance and corporate value, whereas its influence on ESG disclosure is statistically insignificant. Financial performance also positively contributes to corporate value and mediates the relationship between sustainable investment and corporate value. In contrast, ESG disclosure does not exhibit a significant mediating effect. These results indicate that investors in Indonesia’s energy sector remain more responsive to profitability and outcomes than to sustainability practices when assessing corporate value.
ECOSYSTEM SUPPORT, DIGITAL LITERACY, AND INNOVATION CAPABILITY: EXPLAINING PRODUCT INNOVATION AND COMPETITIVE ADVANTAGE AMONG FOOD SMEs
Food Micro, Small, and Medium Enterprises (MSMEs) play a strategic role in Indonesia’s economy; however, increasing market competition, digital transformation, and changing consumer preferences require food SMEs to continuously strengthen their innovation capabilities to sustain competitiveness. Despite the growing importance of innovation, limited studies have simultaneously examined the combined effects of innovation capability, market orientation, ecosystem support, and digital literacy on product innovation and competitive advantage in the food SME sector. This study aims to investigate the influence of innovation capability, market orientation, ecosystem support, and digital literacy on product innovation and further examine the mediating role of product innovation in strengthening competitive advantage among food SMEs in Bali, Indonesia. This study employed a quantitative research design using a cross-sectional survey approach involving 180 food SMEs operating in Denpasar, Badung, and Gianyar, Bali Province. Data were collected through purposive sampling and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0 software. The findings reveal that innovation capability, market orientation, ecosystem support, and digital literacy significantly and positively influence product innovation. Among these predictors, innovation capability demonstrates the strongest effect on product innovation. Product innovation further emerges as the strongest determinant of competitive advantage, while innovation capability also exerts a significant direct effect on competitive advantage. The model explains 74.3% of the variance in product innovation and 68.1% of the variance in competitive advantage, indicating substantial explanatory power. The study contributes to the literature by integrating internal organizational capabilities and external support mechanisms within a unified framework to explain food SME competitiveness in emerging markets.
THE INFLUENCE OF PUSH AND PULL MOTIVATION ON CONVERSION INTENTION OF CANVA PRO THROUGH PERCEIVED VALUE(A STUDY ON GEN Z IN DENPASAR)
The freemium business model remains a cornerstone of the software as a service (SaaS) industry, yet consistently low free-to-paid conversion rates, estimated globally at just 2 to 5 percent, pose a persistent challenge to sustainable monetization. This study investigates how push motivation (dissatisfaction with free-tier limitations) and pull motivation (the attractiveness of premium features) influence users' conversion intention toward Canva Pro, with perceived value serving as a mediating variable. Drawing on the Stimulus-Organism-Response (SOR) framework and integrating Push- Pull Motivation Theory, Perceived Value Theory, and Expectation–Confirmation Theory, a quantitative survey was conducted among 126 Generation Z Canva users in Denpasar City, a digitally advanced urban center with an internet penetration rate of 90.59%. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Results indicate that push motivation directly and significantly affects both conversion intention and perceived value. Pull motivation, while not exerting a significant direct effect on conversion intention, strongly predicts perceived value, which in turn drives conversion intention. Perceived value operates as a complementary partial mediator between push motivation and conversion intention, and as a full mediator in the pull motivation to conversion intention pathway. These findings carry both theoretical and practical implications for freemium service providers seeking to optimize user upgrade strategies.
according to the millennial generation vs generation Z
THE EFFECT OF IBS CORE APPLICATION USE, LOCUS OF CONTROL, AND INTERNAL CONTROL SYSTEM ON EMPLOYEE PERFORMANCE
Employee performance is a crucial factor in supporting the effectiveness of organizational operations and achieving corporate goals. The development of information technology encourages organizations to optimize the use of application systems to support employee work activities. The Technology Acceptance Model (TAM) explains that acceptance of technology use is influenced by the perceived usefulness and ease of use of the system. The Theory of Attitude and Behavior explains that individual behavior at work is influenced by the individual's attitudes, beliefs, and self-control. This study aims to empirically test the effect of the use of the IBS Core application, locus of control, and internal control systems on employee performance. The study was conducted on employees of the LPD in Klungkung Regency using a purposive sampling technique and a sample size of 120 respondents. Research data were collected through questionnaires and analyzed using multiple linear regression analysis with the help of the SPSS program. The results showed that the use of the IBS Core application, locus of control, and internal control systems have a positive effect on employee performance. The research findings indicate that optimizing technology utilization, strengthening individual character, and implementing an effective internal control system can improve employee performance sustainably.
THE IMPACT OF TAX AGGRESSIVENESS ON FIRM VALUE AND AUDIT QUALITY
This study aims to examine in depth the impact of tax aggressiveness on firm value and audit quality using a literature review method. In an increasingly competitive and complex business environment, companies often employ tax aggressive practices as a strategy to minimize their tax burden and increase profitability. The method used in this study is a systematic literature review, identifying, categorizing, and analyzing findings from various relevant scientific articles. The results indicate that tax aggressiveness has diverse impacts on firm value. On the one hand, tax aggressiveness can increase firm value in the short term by increasing after-tax profits. This study confirms that the interaction between tax aggressiveness, firm value, and audit quality is a crucial aspect of modern corporate governance.
GREEN TAXATION AND CORPORATE ENVIRONMENTAL PERFORMANCE: A GLOBAL PERSPECTIVE
This study aims to analyze the relationship between green taxation policies and corporate environmental performance from a global perspective using a literature review method. Green taxation is viewed as an economic instrument designed to encourage environmentally friendly behavior through fiscal incentives and disincentives. In this study, various scientific sources such as international journals, global institutional reports, and academic publications were systematically analyzed to identify patterns, trends, and the impact of environmental tax implementation on corporate behavior. The results of the study indicate that the implementation of green taxation generally contributes positively to improving corporate environmental performance, particularly in terms of energy efficiency, emission reduction, and sustainable technological innovation. Thus, this study provides a conceptual contribution to understanding the role of green taxation as a strategic public policy instrument in driving the transformation of business practices toward environmental sustainability at the global level.
THE EVOLUTION OF INTERNAL AUDIT STANDARDS IN PUBLIC SECTOR GOVERNANCE
This study aims to analyze the evolution of internal audit standards in public sector governance and its implications for enhancing accountability and transparency. The method used is a literature review, examining various scientific sources, professional standards, and relevant regulations on the development of internal audit in the public sector. The study results indicate that internal audit standards have undergone a significant transformation from a traditional compliance-focused approach to a more strategic and risk-based approach. This development is influenced by global demands for good governance, the increasing complexity of public organizations, and advances in information technology. Furthermore, the role of internal auditors has evolved into a strategic partner for management in ensuring the effectiveness of internal controls and risk management. This study confirms that the evolution of internal audit standards has made a significant contribution to strengthening adaptive, transparent, and accountable public sector governance.
ANTI-FRAUD STRATEGIES AND INTERNAL AUDIT ROLES IN PUBLIC SECTOR ORGANIZATIONS
This study aims to analyze anti-fraud strategies and the role of internal audit in enhancing accountability and transparency in public sector organizations. The method used is a literature review, examining various scientific sources such as indexed journals, academic books, and institutional reports relevant to the topics of fraud and internal audit. The results of the study indicate that an effective anti-fraud strategy includes the implementation of a robust internal control system, strengthening an organizational ethical culture, utilizing digital technology in fraud detection, and improving human resource competency. Furthermore, internal audit plays a strategic role as an assurance and consulting function that focuses not only on compliance but also on the prevention and early detection of potential fraud. The synergy between anti-fraud policies and the internal audit function has been proven to minimize the risk of irregularities and improve the quality of public sector governance. This study provides a conceptual contribution to enriching the understanding of the integration of anti-fraud strategies and the role of internal audit in efforts to achieve good governance in the public sector.
PUBLIC SECTOR ACCOUNTING INFORMATION SYSTEMS AND THEIR IMPACT ON ORGANIZATIONAL PERFORMANCE
This study aims to analyze the role of public sector accounting information systems and their impact on organizational performance through a literature review approach. Accounting information systems in the public sector are a crucial instrument for increasing transparency, accountability, and efficiency in state financial management. In this study, various scientific literature sources, such as international journals, academic books, and research reports, were systematically analyzed to identify the relationship between the implementation of accounting information systems and improved organizational performance. The study results indicate that the effective implementation of accounting information systems can accelerate the decision-making process, improve the quality of financial reports, and support better internal control. Furthermore, factors such as human resource competence, technological support, and management commitment also influence the system's success in driving organizational performance. However, challenges such as limited infrastructure, resistance to change, and lack of training remain obstacles to optimizing accounting information systems in the public sector. Therefore, an integrative strategy is needed that includes strengthening human resource capacity, improving technology quality, and policies that support sustainable system implementation to achieve optimal organizational performance.
CROWDFUNDING IN ISLAMIC FINANCE: A NEW MODEL FOR ENTREPRENEURIAL FINANCING
The development of digital technology has driven a transformation in the global financial system, including in the realm of Islamic finance. One innovation that is gaining increasing attention is crowdfunding as an alternative financing option for businesses, particularly small and medium enterprises. This study aims to analyze the role of crowdfunding in Islamic finance as a new model of entrepreneurial financing using a literature review method. The study examines various academic sources, scientific journals, and related reports to understand the concept, mechanisms, and alignment of crowdfunding with Sharia principles, such as the prohibition of riba (usury), gharar (gharar), and maisir (gambling). The results indicate that crowdfunding in Islamic finance has significant potential to increase financial inclusion and expand access to financing for entrepreneurs who previously had difficulty obtaining funding from conventional financial institutions. This model also encourages transparency, community participation, and fairer risk distribution through profit-sharing schemes such as mudharabah and musyarakah. However, there are challenges that need to be addressed, such as the lack of uniform regulations, low levels of Islamic financial literacy, and the need for a robust oversight system to ensure compliance with Sharia principles. Thus, crowdfunding can be an innovative solution to support sustainable entrepreneurial growth in accordance with Islamic values.