International Journal of Accounting, Management, Economics and Social Sciences (IJAMESC)

MEDIATING ROLE OF BRAND LOVE ON THE EFFECT OF CUSTOMER RELATIONSHIP MANAGEMENT INNOVATION ON TOURIST REVISIT INTENTION

Ni Putu Ayu Trefi Cahaya Wati — 2025-10-20

While Bali's hospitality industry has rebounded strongly in the post-pandemic era, individual hotels face the critical challenge of declining customer loyalty amidst high occupancy. This study investigates the mechanism through which Customer Relationship Management (CRM) Innovation influences Revisit Intention, with Brand Love posited as a key mediator. A quantitative approach was employed, using a survey of 168 guests of Bintang Bali Resort, selected via purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess the measurement and structural models. The results confirm that CRM Innovation has a significant positive effect on both Brand Love (β = 0.787, p < 0.001) and Revisit Intention (β = 0.440, p < 0.01). Brand Love also directly influences Revisit Intention (β = 0.377, p < 0.05). Crucially, Brand Love partially mediates the relationship between CRM Innovation and Revisit Intention (β = 0.297, p < 0.05), indicating that emotional attachment is a vital pathway through which CRM drives loyalty. This research addresses a gap in the literature by empirically testing the mediating role of Brand Love in the CRM-Revisit Intention relationship within the hospitality context. It moves beyond a direct-effects model, demonstrating that innovative CRM practices are most effective when they cultivate emotional connections, thereby offering a more nuanced understanding of customer retention dynamics. Hotel managers should transcend transactional CRM by focusing on strategies that build emotional bonds. This includes fostering a sense of shared commitment, leveraging technology for personalized experiences, and creating positive emotional experiences that encourage guests to return and promote the brand socially.

SHORT-TERM DEBT, PROFITABILITY AND STOCK MARKET VOLATILITY AT THE NAIROBI SECURITIES EXCHANGE, KENYA

Vivyanne Omira — 2025-10-20

This study examines the relationship between short-term debt and stock market volatility among firms listed on the Nairobi Securities Exchange (NSE) in Kenya. Acknowledging the increased sensitivity of emerging markets to external financial shocks, the research aims to clarify how short-term financing affects market dynamics. Using secondary data from the NSE and company financial reports covering the period from 2013 to 2022, the study employs a quantitative approach that incorporates multiple linear regression, Pearson correlation analysis, and panel random effects models to capture both cross-sectional and time-series variations. The findings reveal a cyclical pattern in short-term borrowing and a strong positive relationship between short-term debt and market volatility. Regression analysis, which considers firm size and profitability, further confirms that short-term debt has a statistically significant positive impact on volatility. This suggests that short-term financing contributes to market instability when firm-specific factors are taken into account. The persistent presence of short-term debt in corporate capital structures underscores its strategic importance. These results highlight the need for investors and policymakers to carefully monitor corporate debt profiles to mitigate volatility risks in emerging financial markets.

DIVIDEND PAYOUT, LEVERAGE AND EQUITY MARKET VOLATILITY AMONG FIRMS LISTED AT THE NAIROBI SECURITIES EXCHANGE, KENYA

Justin Orang’i Ombui — 2025-10-30

This study investigates the effect of dividend payout on equity market volatility among firms listed on the Nairobi Securities Exchange, considering leverage as a moderating variable. Applying panel regression techniques alongside comprehensive diagnostic testing, the study finds that dividend payout significantly reduces volatility, confirming the stabilizing role of dividends in emerging markets. The inclusion of firm size strengthens the model, showing that larger firms experience lower volatility, while leverage increases volatility but also enhances the stabilizing effect of dividends. These findings support dividend signalling and bird-in-hand theories by demonstrating that stable and predictable payouts help to calm investor uncertainty. The study contributes to the theoretical debate by clarifying the dual role of dividend payout as both a stabilizing mechanism and a signalling tool, while practically recommending stronger dividend disclosure practices and prudent leverage management to mitigate volatility in frontier markets.

CAPITAL MARKET REACTION TO INVESTOR SENTIMENT ON SOCIAL MEDIA: SYSTEMATIC LITERATURE REVIEW

A. Anggi Reskiamalia — 2025-11-16

This study aims to systematically examine the relationship between investor sentiment on social media and capital market reactions in the context of modern finance. The approach used is Systematic Literature Review (SLR) with reference to the PRISMA guidelines, in order to identify, evaluate, and synthesize the results of previous research that are relevant and indexed in reputable journals. Analysis was carried out on publication trends, geographical context, sentiment analysis methods, and empirical results related to the influence of sentiment on stock prices, volatility, and other market variables. The results of the study show that investor sentiment on social media plays a significant role in influencing the dynamics of the capital market. Information spread through digital platforms such as Twitter, Reddit, and Weibo are able to shape the collective perception of investors which has a direct impact on stock price movements and volatility levels. These influences are heterogeneous, depending on the context of the country, type of industry, and economic conditions. Emerging markets and sectors with low levels of transparency tend to be more sensitive to changes in sentiment than more efficient developed markets. In addition, external factors such as economic crises, pandemics, and government policies strengthen the relationship between sentiment and market reactions. This research provides practical implications for investors in developing strategies based on sentiment analysis, for regulators in designing policies to supervise digital information, and for companies in strategically managing public communications. The next research recommendation is directed at the development of a quantitative model that integrates social media sentiment data with accounting and corporate governance variables to strengthen understanding of market behavior in the digital era.

EXTENDED PRODUCER RESPONSIBILITY FOR PLASTIC WASTE: A STRATEGIC MANAGEMENT ACCOUNTING PERSPECTIVE IN INDONESIA

Aliya Dimarizkya — 2025-11-16

These studies aim for research Implementation of Extended Producer Responsibility (EPR) in the Consumer Goods Industry in Indonesia. Extended Producer Responsibility (EPR) is policies that require manufacturer for responsible answer to products produced in the phase post consumption including packaging. Application policy This expected can reduce embossed rubbish plastic and push practice sustainable business. Research This use Systematic Literature Review (SLR) method for various studies national and international related EPR implementation and role accountancy management strategic in context sustainability. Study results show that the implementation of EPR in Indonesia is still not optimal and new adopted by some companies that have commitment to sustainability in its business strategy. Findings this also confirms importance integration information cost environment in the planning and decision-making process decision managerial as part from accountancy management strategic. With Thus, accounting management strategic play a role important in support EPR implementation, improving efficiency source power, as well as strengthen responsible consumption and production answer in accordance with Sustainable Development Goals (SDG) 12.

MANAGEMENT EFFICIENCY AND FINANCIAL OUTCOMES IN PRIVATE SECTOR BANKS: AN EMPIRICAL STUDY

Anmol Kumari — 2025-12-14

In the evolving landscape of India’s banking industry, private sector banks play a significant role in promoting innovation, efficiency, and financial inclusion. Their financial performance is closely tied to how effectively they manage operational resources and human capital. This study aims to analyse the impact of management efficiency on the financial performance of selected private sector banks in India. Specifically, it investigates how efficiency indicators such as cost control and employee productivity influence Return on Assets (ROA), a key measure of profitability. The research covers an eleven-year period from 2013-2014 to 2023-2024, using panel data from five major private sector banks. The analysis employs descriptive statistics, multicollinearity and heteroscedasticity diagnostics, and panel regression through the Pooled Ordinary Least Squares (OLS) technique. Five efficiency indicators - Cost to Income Ratio (CIR), Business per Employee (BPE), Profit per Employee (PPE), Investment to Employment Ratio (IER), and Deposit to Employment Ratio (DER) are used as independent variables, with ROA as the dependent variable. The results indicate that CIR, BPE, PPE, and DER have a statistically significant effect on ROA, while IER does not show a notable impact. The model displays a high level of explanatory power, with an R-squared value of 0.9291, suggesting that approximately 93% of the variation in ROA is accounted for by the selected variables. The findings highlight the importance of operational efficiency and effective human resource management in enhancing profitability. The study offers valuable insights for bank managers and policymakers seeking to optimize performance through strategic efficiency improvements in cost management and employee productivity.

THE EFFECTIVENESS OF CONTEXTUAL TEACHING AND LEARNING (CTL) IN EDUCATION: A SYSTEMATIC LITERATURE REVIEW AND META-ANALYSIS

Basuki — 2025-12-16

The Contextual Teaching and Learning (CTL) approach emphasizes the interconnectedness between academic knowledge and real-life contexts so that learners can build meaningful understanding through authentic experiences. Although many studies on CTL were conducted in Indonesia, the results are still scattered and have not been comprehensively synthesized. Therefore, this study aims to conduct a Systematic Literature Review and meta-analysis to assess the effectiveness of CTL in improving student learning, motivation, communication, and collaboration outcomes in Indonesia. This study uses the Systematic Literature Review (SLR) approach with reference to the PRISMA 2020 guidelines. Articles published between 2013–2025 were searched from Google Scholar, Garuda, Scopus, and DOAJ databases using the keywords "Contextual Teaching and Learning," "effectiveness," "learning outcomes," "motivation," "communication," and "collaboration." Of the 187 articles identified, 19 met the inclusion criteria. The analysis was carried out descriptively, thematically, and quantitatively with a random-effects meta-analysis model. The results of the meta-analysis showed a large and statistically significant combined effect size (SMD = –0.781; 95% CI [–0.938, –0.625]; p < 0.001) with a moderate–high level of heterogeneity (I² = 71.85%). CTL has been proven to improve learning outcomes, intrinsic motivation, and collaborative abilities of students. In addition, the trend of implementing CTL in digital learning and blended learning is increasing in line with the Technological Pedagogical Content Knowledge (TPACK) framework. CTL has proven to be effective at various levels and fields of study in Indonesia. This approach strengthens the theory of constructivism and Self-Determination Theory, and supports the Freedom of Learning policy in shaping 21st-century skills such as critical thinking, communication, and collaboration. Further research is suggested to conduct a cross-border meta-analysis and examine the digital adaptation of CTL in the context of new learning.

THE EFFECT OF AUDIT OPINION ON MARKET REACTION: GRC AS MODERATOR

I Kadek Jonh Stiawan — 2025-12-16

This study aims to evaluate the effect of audit opinion on market reaction with the implementation of Governance, Risk, and Compliance (GRC) as a moderating variable. The research objects are banking sector companies listed on the Indonesia Stock Exchange during the period 2019–2023. Of the total 47 companies, a purposive sampling technique was used to select 8 companies with observations over 5 years, resulting in 40 observation data. Data were collected through documentation from information available on the IDX website. The analysis was conducted using Moderated Regression Analysis (MRA) with the help of the STATA program. The results show that audit opinion has no effect on market reaction, and the implementation of GRC does not moderate the relationship. This finding indicates that investors in the banking sector tend to focus more on financial information and fundamental company performance, while non-financial factors such as audit opinion and GRC have not been a primary consideration in making investment decisions.

THE EFFECT OF ENVIRONMENT, SOCIAL AND GOVERNANCE ON FIRM VALUE WITH FIRM SIZE AS A MODERATING VARIABLE

Maria Gratia Kolo — 2025-12-16

This study examines the effect of Environment, Social, and Governance (ESG) factors on firm value, with company size as a moderating variable, in basic materials and industrials companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2023. Fourteen companies were picked using purposive sampling, resulting in a total of 42 observations. Data were examined utilizing multiple regression and moderated regression analysis (MRA) with SPSS 26. The results demonstrate that ESG as a whole and the environmental component do not substantially affect corporate value; however, the social and governance facets have an effect on firm value. Furthermore, firm size does moderate the influence of ESG and environmental issues on firm value; instead, it moderates the impact of social and governance elements on firm value.

ARTIFICIAL INTELLIGENCE, TECHNOLOGY INFRASTRUCTURE AND TAX EVASION IN EMERGING ECONOMY

Muyiwa Emmanuel Dagunduro — 2025-12-18

Tax evasion is a global problem that costs governments billions of dollars in lost revenue every year. To address these issues, this study investigated the effect of artificial intelligence on tax evasion in Nigeria. This study specifically examined how machine learning, natural language processing, intelligent decision support systems, and expert systems, when supported by a strong technology infrastructure, might reduce tax evasion and improve revenue collection. This study used a survey research approach, with main data acquired using a well-structured questionnaire. The target demographic consisted of 79 Federal Inland Revenue Service (FIRS) employees in Ikeja Lagos, who specialized in artificial intelligence. A random sampling technique was used to ensure a representative sample, reducing selection bias and increasing the generalizability of the findings. The acquired data was examined using descriptive statistics and multiple regression analysis. The study discovered that machine learning and natural language processing considerably minimize tax evasion, but their effectiveness is limited by robust technological infrastructure, which improves fraud detection but reduces their impact. While expert systems significantly reduce tax evasion, they may be abused when technology infrastructure improves, but intelligent decision support systems had no meaningful impact, showing limitations in their current use in tax enforcement. This study concluded that AI technologies such as machine learning, natural language processing, and expert systems should be strategically integrated alongside well-regulated technological infrastructure to maximize fraud detection capabilities while minimizing the risk of misuse. This study suggested that tax authorities invest in machine learning-driven automation to detect fraud and monitor tax compliance.

FINANCIAL STABILITY MODEL THROUGH EFFICIENCY, PROFITABILITY AND FINANCIAL TECHNOLOGY

Asbi Amin — 2025-12-19

The economy sharia development shows the financial stability of Sharia Bank in ASEAN is increasing. The stable financial condition of banks will have an impact of the balance financial system. This research aims to examine the influence of efficiency, profitability, and financial technology on the financial stability of Islamic banking in ASEAN using Vector Auto Regressive (VAR). This VAR model is a system of simultaneous equations where the number of equations formed is the number of variables used. Each equation is related both mathematically and theoretically. This research uses quantitative method. The population used in this research comes from all sharia banks in the Southeast Asia region which have been operating since 2019 – 2023. This research uses a purposive sampling method where the sample is taken randomly by determining several criteria in the sample. Based on the criteria mentioned above by reviewing certain conditions there are 19 sharia banks that can be used as samples in this research. The research result of the cointegration test indicate that between three variables in this research there is a cointegration correlation at the Significance level of 5%. This means that movements in efficiency, profitability, financial technology, and financial stability have a correlation of stability/balance and similar movements in the long term. Furthermore, the result of the Granger causality test shows that the financial stability and efficiency have a one-way relationship. The p-value of financial stability is 0.042 or < 0.005, namely a one-way relationship; the p-value of profitability is 0,029 or <0,05 which means a reject H₀ namely a one-way, and the p-value of profitability is 0,029 or <0,05 which means profitability influence financial stability with a one-way relationship; meanwhile the p-value financial technology is 0,027 or <0,05 which means that financial technology influences financial stability in one-way relationship.

ANALYSIS OF VILLAGE DEVELOPMENT IN PESISIR BARAT REGENCY USING THE SCALOGRAM APPROACH, CENTRALIZATION INDEX, AND TOPSIS METHOD

Royiv Agmadeni — 2025-12-19

Village development plays a crucial role in driving regional economic growth. The implementation of the Village Law has accelerated development in rural areas, though inequality remains a major challenge. One way to address this issue is by identifying growth center villages through comprehensive analysis. This study uses a descriptive-analytical approach covering 116 villages in Pesisir Barat Regency. The objective is to identify villages that act as growth centers and hinterlands, helping to highlight areas with high development intensity. Three methods are used: scalogram analysis, centralization index, and the TOPSIS method. Scalogram analysis identified 6 growth center villages and 6 hinterland villages. The centralization index revealed 4 service center villages and 3 hinterland villages, with most villages classified as very underdeveloped in terms of facilities. Using the TOPSIS method, the study found that only 7% of villages had high development intensity, while the majority had moderate levels. These findings emphasize the need for a more balanced distribution and improvement of village facilities, particularly those that can stimulate broader economic impacts.

TRANSPARENCY AND FINANCIAL PERFORMANCE IN VILLAGE GOVERNANCE: A RATIO-BASED EVALUATION APPROACH

Hikmahwati — 2025-12-25

The enactment of Law Number 6 of 2014 on Villages has granted substantial autonomy to villages in managing governance, including financial and asset management, accompanied by high demands for transparency and accountability. This study aims to evaluate the financial performance of Pulau Sugara Village, Barito Kuala Regency, from 2019 to 2023 using a quantitative descriptive approach. The analysis is based on the Village Budget Realization Reports (LRA), utilizing five financial ratios: expenditure variance, expenditure growth, expenditure harmony (operational and capital), efficiency, and revenue effectiveness. Data were collected through interviews, observations, documentation, and literature studies. The findings indicate that the village's financial performance, in terms of expenditure variance, is categorized as efficient, with an average of 86.08%, indicating that actual spending was consistently below budgeted amounts. However, the expenditure growth rate was relatively low, averaging 13.40%, reflecting slow progress in financial capacity. Efficiency analysis revealed a five-year average of 92.50%, indicating a tendency toward budget inefficiency due to overspending relative to revenue. Despite efficient capital spending and low operational costs, the overall efficiency remains suboptimal. These results highlight the need for better financial planning, enhanced internal audits, and capacity building among village officials to ensure more effective and efficient village financial management.

AN ANALYSIS OF THE IMPACT OF AI ON LEADERSHIP MANAGEMENT AND DECISION-MAKING PROCESSES

Irfan Maulana — 2025-12-25

This study aims to analyze the impact of the application of artificial intelligence (AI) on leadership management and decision-making processes in modern organizations, with a case study at PT. Oupu Building Materials, Tangerang. This study uses a qualitative descriptive approach through in-depth interviews with seven informants consisting of managers, division heads, and sales and promotion employees. The results show that the application of AI brings transformation in the decision-making process, where decisions become faster, more accurate, and data-driven. In addition, AI also changes the leadership style to be more collaborative and adaptive to technological developments. However, this study also identified several key challenges, such as dependence on data quality, the risk of algorithmic bias, and employee resistance to change. Leaders are required to develop ethical, adaptive leadership strategies oriented towards developing employees' digital competencies to maximize the potential of AI without neglecting the human aspect of decision-making. Thus, AI is not only an analytical tool, but also a catalyst in creating innovative.

THE ALGORITHMIC AUDITOR: ASSESSING THE IMPACT OF ARTIFICIAL INTELLIGENCE ON ASSURANCE AND EVOLUTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)

K.G.Dhammika B. Katupulle — 2025-12-25

Artificial Intelligence (AI) adoption in financial auditing presents disruptive potential, enhancing efficiency and insight while challenging foundational principles of evidence, professional skepticism, and financial reporting standards. This study synthesizes academic literature through a Systematic Literature Review (SLR) of Scopus and Web of Science databases, following PRISMA guidelines. Thematic analysis reveals three critical themes: (1) AI’s transformation of audit processes through improved risk assessment and substantive testing, alongside emerging concerns about evidence reliability and algorithmic “black boxes”; (2) ethical and epistemological challenges to auditors’ roles in maintaining professional judgment and skepticism within algorithmic environments; and (3) mounting pressure on the IFRS framework to accommodate AI-driven business models, data-intensive assets, and novel valuation techniques. The study concludes that while AI can enhance assurance quality, it necessitates concurrent development of new auditing standards and a future-oriented revision of the IFRS Conceptual Framework to ensure sustained relevance and reliability. This synthesis establishes a research agenda for standard setters, practitioners, and academics, highlighting gaps in understanding the interplay between technological innovation and accounting’s conceptual foundations.

TRACING THE EVOLUTION OF SUSTAINABILITY ACCOUNTING: A SYSTEMATIC LITERATURE REVIEW

Setianingsih — 2025-12-25

This study aims to identify and analyze various factors that affect sustainability accounting through the Systematic Literature Review (SLR) approach using the PRISMA method. Sustainability accounting is increasingly important in modern business practices due to the increasing demands on transparency and social and environmental responsibility. The study examined ten scientific articles published between 2019–2025 and met inclusion criteria based on topics, methodologies, and relevance to the application of sustainability accounting. The results of the study show that some of the main factors that influence the implementation of sustainability accounting include intellectual capital, technology support, organizational culture, local cultural values, stakeholder engagement, accounting information systems, reporting standards such as GRI and IFRS, and government regulations. These findings reinforce the view that the successful implementation of sustainability accounting is highly dependent on the synergy between internal and external factors of the organization. This research contributes to academics and practitioners in understanding the dynamics and challenges of sustainability accounting, and recommends the need for institutional support, managerial capacity building, and the use of technology for more transparent and accountable reporting.

ACCOUNTING RISKS AND THEIR IMPACT ON BUSINESS SUSTAINABILITY AMID GEOPOLITICAL UNCERTAINTY IN THE MIDDLE EAST: AN ANALYTICAL CONCEPTUAL STUDY

Hamza N. Aljumaili — 2025-12-25

This study examines the impact of accounting risks on business sustainability amid geopolitical uncertainty in the Middle East. It aims to develop a conceptual framework that links geopolitical instability to key accounting risks namely measurement, disclosure, fraud, and non-compliance and assesses their effects on sustainability dimensions: economic, social, environmental, and governance. The research adopts a conceptual analytical methodology, relying on a comprehensive literature review of academic sources and institutional reports. It identifies how geopolitical events such as conflicts, sanctions, and regulatory shifts exacerbate accounting risks and distort financial information, undermining effective decision-making and stakeholder trust. The findings reveal that geopolitical uncertainty significantly intensifies accounting risks, leading to reduced reporting reliability, impaired governance, and weakened long-term business viability. The study highlights the mediating role of accounting information quality in either amplifying or mitigating these effects. Key recommendations include enhancing risk management systems, improving transparency through integrated reporting, strengthening governance frameworks, and tailoring accounting standards to the region’s unique geopolitical context. The study emphasizes the importance of resilient accounting practices as a foundation for sustainable business operations in volatile environments.

UTILIZATION OF DIGITALIZATION AND INNOVATION FOR THE DEVELOPMENT OF MSMES IN THE DIGITAL ERA

Diwayana Putri Nasution — 2025-12-25

The purpose of this study is to investigate the role of digitalization and innovation in the growth and development of MSMEs. Digitalization is essential in the global era, where human resources are required to adapt to digitalization developments. Innovation is closely related to digitalization in its optimization. However, in reality, this has not yet occurred comprehensively in various aspects of MSMEs. The background to this research is the many MSMEs that still lack adequate capabilities in terms of digitalization and innovation. The research method employed is a literature review, examining previous studies that analyze the use of digitalization and innovation for the development of MSMEs. The results show that the use of digitalization and innovation has a significant influence on improving MSME development. Indicators and aspects of digitalization are also necessary for more optimal MSME development. The recommendations from this study are the need for collaboration, training, and digital literacy in innovation and digitalization as an effort to develop MSMEs that are globally competitive in the digital era.

ANALYSIS OF THE DETERMINANTS OF ENTREPRENEURIAL INTENTION OF ACCOUNTING STUDENTS USING THE THEORY OF PLANNED BEHAVIOR APPROACH

Rizki Ramadhan — 2025-12-25

This study explores the factors influencing accounting students’ interest in entrepreneurship through a qualitative interpretive approach. Motivated by Indonesia’s relatively low entrepreneurship ratio of 3.74% compared to neighboring countries, the research seeks to understand why students’ entrepreneurial interest remains limited despite compulsory entrepreneurship courses and growing business opportunities. Using a descriptive qualitative design, data were collected through in-depth interviews and observations of 30 accounting students from the 2022 intake at Aceh Polytechnic and analyzed thematically. The results show that entrepreneurial motivation marked by hard work, perseverance, resilience, and goal commitment and entrepreneurial knowledge covering business fundamentals, risk management, opportunity recognition, and digital business practices significantly shape students’ entrepreneurial interest. The study concludes that entrepreneurial intention arises from the interaction of psychological, educational, and environmental factors, emphasizing the need to strengthen motivation and entrepreneurship education to cultivate innovative, self-reliant, and opportunity-driven graduates who contribute to sustainable economic development in Indonesia.

ECONOMIC AND SOCIAL INFLUENCE ON HOUSEHOLD PRODUCERS IN LAMPUNG PROVINCE IN 2024

Etika Revolusi Nusantari — 2025-12-25

This study aims to analyze the influence of economic and social factors on household expenditure in Lampung Province using a quantile regression approach. The data used is from Susenas 2024, including the variables of per capita income, the education level of the head of household, and the area of residence. The results of the analysis show that the influence of the three variables is heterogeneous throughout the distribution of expenses. Per capita income has a negative and significant effect on the lower quantile, indicating a tendency to save or consume limited in low-income households. In contrast, education shows a positive and increasingly greater influence on the upper quantile, confirming the role of education in increasing consumption capacity. The area of residence also has a significant effect, where households in urban areas tend to have higher expenditures than rural areas. These findings confirm the importance of the quantile regression approach in understanding the dynamics of household consumption more comprehensively, as well as encouraging the formulation of more inclusive development policies based on local characteristics.

ANALYSIS OF CONSUMER BEHAVIOR TOWARDS DIGITAL TECHNOLOGY IN UMRAH RELIGIOUS ECOTOURISM PACKAGES

Sayid Abas — 2025-12-26

Consumer behavior in choosing Umrah and Hajj religious ecotourism packages is increasingly influenced by advances in digital technology. With digital platforms, consumers can now access information, compare prices, and place orders online more easily. This study aims to analyze how digital technology influences consumer decisions in choosing Umrah and Hajj packages and its impact on the religious tourism industry. The methodology of this research will use a qualitative approach to get a comprehensive picture of consumer behavior towards digital technology in choosing Umrah and Hajj religious ecotourism packages, observations, interviews, analysis of supporting documents for pilgrims and Umrah and Hajj travel agencies. As informants, Umrah and Hajj pilgrims who use digital services as a consideration for choosing Umrah packages. The results of the study obtained an idea that consumers interact with digital technology in choosing religious ecotourism packages for Umrah and Hajj, as a preference for the use of technology that influences decisions. Testimonial Reviews, Comfort, Update, Efficiency, Facilities, Wide Network, Price, Convenience, Trust, Decision and Content, are some of the factors that influence decision-making in choosing an Umrah package.

WHEN RITUAL MEETS ACCOUNTING: EXPLORING THE MEANING OF COST ACCOUNTABILITY IN MANGGARAI'S KENDURI CEREMONY

Nuraini Ismail — 2025-12-26

This study aims to determine the cost sharing system incurred in the traditional kenduri ceremony (Di'a class) and to reveal the meaning of cost accountability in Wae Renca Village, West Cibal District, Manggarai Regency, East Nusa Tenggara Province. This study uses a qualitative method with a descriptive approach. Data were obtained through observation, interviews with traditional elders, nuclear families, children of rona, and children of wina, as well as documentation and literature studies. The results of the study indicate that the cost sharing system in the Kenduri ceremony is regulated based on customary agreements and involves three main parties, namely ase kae (nuclear family), children of rona (siblings), and children of wina (sisters). Cost accountability is reflected in the family deliberation mechanism, where every contribution and expenditure is recorded and accounted for openly. The meaning of cost accountability in the kenduri ceremony reflects five main values, namely: (1) Religious meaning as a form of accountability to God and ancestors; (2) Humanitarian meaning as respect for human dignity; (3) The meaning of unity and togetherness through collective participation of the entire family; (4) The meaning of deliberation which emphasizes the importance of joint decisions; and (5) The meaning of justice in the distribution of costs without differentiating economic status. This study concludes that cost accountability in the kenduri ceremony not only functions economically, but also become a symbol of the spiritual, social, and cultural values of the Manggarai people which strengthen solidarity and collective responsibility.

THE EFFECT OF CAPITAL INTENSITY AND GREEN ACCOUNTING ON TAX AVOIDANCE WITH CORPORATE SOCIAL RESPONSIBILITY AS A MODERATOR

Sitti Khadija — 2025-12-26

This study analyzes the determinants of corporate tax avoidance with focus on the roles of capital intensity and green accounting, and the moderation of corporate social responsibility (CSR) in the context of Indonesian healthcare companies. Using secondary data from annual and sustainability reports of 11 companies listed on the Indonesia Stock Exchange from 2020-2024, this research analyzes 55 panel data observations. The analysis method employs panel regression with common effect model after going through a series of model selection tests. The results reveal important findings: first, capital intensity does not significantly affect tax avoidance, indicating that fixed assets serve more for operational purposes than tax strategy. Second, green accounting has a significant positive effect on tax avoidance, showing the utilization of environmental costs to legally reduce tax burden. Third, CSR acts as a significant negative moderator in the relationship between capital intensity and tax avoidance, but is insignificant in moderating the relationship between green accounting and tax avoidance. These findings provide valuable contributions to the development of agency theory and sustainable corporate governance practices.

THE INTERPLAY OF ESG, ENTERPRISE RISK MANAGEMENT AND CORPORATE REPUTATION IN ENHANCING FIRM VALUE: A SYSTEMATIC LITERATURE REVIEW

Disya Yuke Farhana — 2025-12-26

This study conducts a systematic literature review of 37 articles to analyze the influence of Environmental, Social, and Governance (ESG) and Enterprise Risk Management (ERM) on firm value, with corporate reputation as a mediating variable. Using Stakeholder Theory and Signalling Theory frameworks, this systematic review identifies that good ESG practices enhance corporate reputation through stakeholder expectation fulfillment and positive market signals. Similarly, effective ERM implementation strengthens reputation through transparent risk management and demonstrates management quality. Corporate reputation serves as a strategic asset mediating the relationship between ESG and ERM with firm value, enhancing trust and market valuation. The integration of ESG and ERM with strengthened reputation becomes the key to creating sustainable firm value. The research recommends consistent implementation of ESG and ERM with transparent disclosure, as well as further exploration of the interaction between both variables across various industry sectors.

THE POLITICAL ECONOMY OF TRANSFER PRICING: ITS CONTRIBUTION TO TAX AVOIDANCE AND WEALTH RETENTIVENESS

Poniman — 2025-12-26

This article examines transfer pricing not as a neutral technical mechanism for allocating costs and revenues, but as a strategic instrument used by multinational enterprises to engage in tax avoidance and consolidate wealth. Drawing on a critical accounting framework, it builds on Sikka and Willmott (2010), who show that intra-group pricing constitutes a politico-economic practice that enables the systematic shifting of profits to low-tax jurisdictions, thereby eroding the tax base of countries where real economic activity takes place. The analysis highlights how corporations mobilize technical legitimations such as claims of arm’s length pricing to construct new “truths” about fair value that are difficult for tax authorities to contest, particularly in developing countries with limited regulatory and audit capacity. Through a Foucauldian lens, transfer pricing is interpreted as a technology of power that reinforces the dominance of global capital over nation-states by controlling profit flows, structuring asymmetric regulatory negotiations, and deepening fiscal inequalities. The article thus argues that transfer pricing is a practice deeply embedded in vested interests and power relations, with significant implications for tax justice, state fiscal capacity, and the distribution of wealth in the global economy.

FROM DIGITALIZATION TO INTELLIGENCE: MAPPING AI FORECASTING READINESS OF MSMES IN GREATER JAKARTA

Hani Fitria Rahmani — 2025-12-27

Digital transformation presents both challenges and opportunities for Indonesian micro, small, and medium enterprises (MSMEs) in achieving sustainability performance. This study aims to examine the influence of digital readiness, technology adoption, and institutional support on MSMEs’ sustainability performance. A quantitative approach was employed by distributing questionnaires to MSME actors and analyzing the data using structural equation modeling based on partial least square (PLS-SEM). The results indicate that most independent variables have a positive and significant effect on sustainability performance, although certain variables show a negative relationship, which differs from some previous studies. This finding highlights that digital readiness and technology adoption do not always generate uniform effects but are strongly shaped by institutional contexts and internal conditions of MSMEs. Theoretically, this research contributes to the advancement of Institutional Theory and the Natural Resource-Based View (NRBV) by emphasizing digital capabilities as strategic resources for sustaining competitive advantage. Practically, the study suggests that policymakers and stakeholders should enhance digital literacy, infrastructure, and support programs for MSMEs to strengthen their ability to adapt to the digital era. The study concludes that synergy between internal MSME factors and external support is crucial for achieving sustainable business outcomes. Future research is recommended to include moderating variables such as strategic leadership or market orientation to provide deeper insights into the dynamics of MSME digital transformation.

THE CRYPTO-EQUITY NEXUS: A ROLLING LINEAR REGRESSION ANALYSIS OF BITCOIN’S PREDICTIVE POWER ON MICROSTRATEGY AND BLACKROCK

Andreas Widjaja — 2025-12-27

This study analyzes the differing dynamics within the crypto-equity nexus by examining the influence of Bitcoin (BTC) on the valuation of MicroStrategy (MSTR), an active leveraged balance sheet adopter, and BlackRock (BLK), a passive institutional conduit. The objective is to assess the predictive effectiveness of BTC across these various corporate archetypes. We utilized Rolling Linear Regression (RLR) with both growing-window and fixed-window methodologies to evaluate the time-varying correlation and forecast accuracy for MSTR and BLK from 2020 to late 2025. This comparative analysis identified parameter instability due to changes in corporate strategy. The findings indicate that the RLR model for MSTR demonstrated considerable forecast bias, as reflected by a notably high Mean Absolute Percentage Error (MAPE), especially with the growing window. This failure indicates that MSTR functions as a non-linear, high-beta instrument, enhanced by a speculative leverage premium. The BLK model exhibited high accuracy and stability, evidenced by a low MAPE, which confirms a systematic second-order correlation based on institutional fee revenue. In conclusion, the findings indicate that BTC serves as a significant determinant for both equities, necessitating a tailored predictive modeling approach. Simple linear models are adequate for stable conduits such as BLK; however, they fail to accurately represent MSTR, where price movements are influenced by non-linear corporate financing and active leverage dynamics.

LEVERAGING DIGITAL INNOVATION FOR SUSTAINABLE PROCUREMENT PERFORMANCE: A CASE STUDY OF SOUTH SUMATRA’S PROCUREMENT OFFICE

Tatan Mayandripan — 2025-12-27

This study aims to analyze innovative management practices in digital procurement and evaluate their impact on efficiency and transparency at the South Sumatra Provincial Goods and Services Procurement Office. This study used a qualitative approach with semi-structured interviews with 9 participants consisting of functional officials and procurement staff. Data were analyzed thematically through an interpretative approach. The results showed that innovative management is understood as an effort to simplify the process through system integration (SPSE, e-Catalog, e-Contract), document digitization, and strengthening internal coordination. The implementation of digital procurement is proven to increase time and cost efficiency, and strengthen transparency through public access to procurement information. However, challenges still exist in the form of limited technological infrastructure, human resource readiness, and limited system features. The study concludes that the success of digital procurement depends on adaptive managerial innovation and adequate institutional support. Strategic recommendations include increasing human resource capacity, strengthening digital infrastructure, improving system features, and cross-agency collaboration as an effort to realize efficient, transparent, and sustainable public procurement.

THE LEGALITY OF THE EXISTENCE OF POLICE DETENTION CENTERS IN THE REPUBLIC OF INDONESIA THAT ARE NOT UNDER THE DIRECTORATE GENERAL OF CORRECTIONS

Abdul Kadir — 2025-12-27

This research analyzes the legality of detention centers operated by the Indonesian National Police (Polri) that are not affiliated with the Directorate General of Corrections (Ditjen PAS) and assesses their impact on the protection of detainees' rights. The study is motivated by the discrepancy between legal provisions, which place detention management authority under Ditjen PAS, and the reality that Polri continues to operate its own detention facilities outside the official structure. Using a normative-empirical legal method, this research combines a normative juridical analysis of relevant laws and regulations with empirical data gathered through interviews with officials from Ditjen PAS and the Metro Jaya Regional Police, field observations, and documentation review. The findings indicate that de jure, detention center management falls under the authority of Ditjen PAS as stipulated in Government Regulation No. 27 of 1983, Law No. 22 of 2022, and Ministerial Decree No. M.01.PR.07.03 of 2007. However, de facto, Polri continues to manage detention centers based on its investigative authority, creating legal ambiguity. This situation results in non-uniform service and facility standards, weak centralized oversight, obstacles to prisoner data integration, and suboptimal rehabilitation and reintegration programs, ultimately undermining the protection of detainees' rights. The study concludes that regulatory harmonization and stronger coordination between Polri and Ditjen PAS are necessary to ensure all detention facilities have a clear legal basis and can guarantee the protection of detainee rights in accordance with correctional principles.

THE EFFECT OF GREEN ACCOUNTING AND MATERIAL FLOW COST ACCOUNTING ON CORPORATE SUSTAINABILITY: THE MODERATING ROLE OF GOOD CORPORATE GOVERNANCE

Aqdiah — 2025-12-27

This study aims to analyze the influence of green accounting and material flow cost accounting (MFCA) on corporate sustainability with good corporate governance (GCG) as a moderating variable. The research population includes 43 textile and garment manufacturing companies listed on the Indonesia Stock Exchange, Malaysia Stock Exchange, and Singapore Exchange from 2021 to 2023. The research method employs panel data regression analysis with a fixed effect model approach. The results indicate that green accounting does not significantly affect corporate sustainability. MFCA in production flow shows a significant negative effect, while MFCA in production costs and production output show no significant effects. GCG strengthens the effect of MFCA production output on sustainability, but weakens the effect of MFCA production flow, and does not moderate the relationship between green accounting and sustainability. These findings indicate that the implementation of environmental accounting has not been optimal in supporting corporate sustainability, and the role of corporate governance varies depending on the dimensions of environmental accounting practices implemented.

TAX SANCTIONS AND VEHICLE TAXPAYER COMPLIANCE: THE MODERATING ROLE OF TAX SOCIALIZATION

Fajar Muamar Fanani — 2025-12-28

This study aims to analyze the influence of tax sanctions and tax socialization on the compliance of individual motor vehicle taxpayers at the Yogyakarta City SAMSAT (One-Stop Administration Service for Motor Vehicles). A quantitative approach with an associative causal design was employed. Data were collected via a structured questionnaire using a Likert scale, distributed to 100 respondents selected through simple random sampling from the population of motor vehicle taxpayers. The collected data were analyzed using multiple linear regression with SPSS to test the proposed hypotheses. The results indicate that both tax sanctions and tax socialization have a significant positive effect on taxpayer compliance, both partially and simultaneously. Partial tests (t-test) confirm that each variable individually strengthens compliance. The regression model explains 73.4% of the variance in compliance (R² = 0.734), demonstrating the strong combined explanatory power of these two factors. The findings suggest that SAMSAT authorities and similar regional institutions should adopt an integrated policy strategy. Enhancing compliance requires a dual approach that synergizes consistent and fair enforcement of sanctions with proactive, transparent, and continuous taxpayer education and outreach programs. This research contributes to the literature on behavioral taxation by empirically examining the drivers of compliance specifically among individual motor vehicle taxpayers at the regional level—a context often overlooked in prior studies focusing on corporate taxpayers. It provides actionable, evidence-based insights for designing more effective local tax administration systems.

DIGITAL BUSINESS LITERACY AND PRODUCT INNOVATION AS DRIVERS OF MSME SUSTAINABILITY: THE MODERATING ROLE OF DIGITAL MARKETING

Enjat Sudrajat — 2025-12-28

This study aims to analyze the influence of digital business literacy and product innovation on the sustainability of MSMEs in Pandeglang Regency, with digital marketing as a moderating variable. Data were obtained from 390 MSMEs through a survey using a Likert-scale questionnaire and analyzed using the Structural Equation Modeling (SEM-PLS) method. The results show that digital business literacy has a positive and significant effect on MSME sustainability, while product innovation has a negative effect without the support of an appropriate digital marketing strategy. Digital marketing does not significantly moderate the effect of digital business literacy, but weakens the effect of product innovation on MSME sustainability. These findings indicate the importance of integrating digital marketing strategies that are appropriate to the characteristics of products and digital markets to support MSME sustainability. This study provides a practical contribution to MSME development through increasing digital literacy and product innovation supported by effective digital marketing strategies.

THE EFFECTIVENESS OF THE IMPLEMENTATION OF THE E-FILING SYSTEM IN TAX SERVICES AT TAX ADVISORY PARTNER

Nurazizah — 2025-12-29

This study aims to evaluate the effectiveness of the implementation of the e-Filing system in tax services at the Makassar City Tax Advisory Partner. The e-Filing system is a digital innovation from the Directorate General of Taxes designed to improve the efficiency, effectiveness, and compliance of taxpayers in the Notification Letter (SPT) reporting process. The research method used is descriptive qualitative with data collection techniques through observation, interviews, and documentation. The results of the study show that the implementation of e-Filing is able to improve time efficiency, ease of access, and transparency, as well as reduce administrative burden for both tax consultants and taxpayers. However, there are still challenges such as technical constraints, lack of digital literacy, and a system interface that is not yet fully user-friendly. Overall, the e-Filing system makes a positive contribution in supporting more effective and modern tax services. To optimize the use of this system, it is necessary to improve infrastructure, continuous education, and collaboration between the DGT and tax consulting institutions.

ECONOMIC GROWTH, REGIONAL SIZE, AND LOCAL REVENUE: ANALYZING THEIR IMPACT ON FINANCIAL PERFORMANCE OF LOCAL GOVERNMENTS IN INDONESIA

Adi Wijaya — 2025-12-29

The performance of the government is the understanding of the regions in finding and managing regional finances that are useful for the needs and support of the continuation of the government system. Financial performance continues to increase can provide good to the welfare of the community, the more resources that can be used in maximizing services to the community and can also finance regional development and government implementation, the more independent a region is in creating its regional potential. The problem of financial performance in general, the performance of the independence of the Regency/City Government in Lampung is still relatively low. One of the problems with the financial performance of the Lampung Provincial government in 2023 is related to cash management. The purpose of this research is to provide a more in-depth knowledge literacy about what factors have an impact on the financial performance of local governments, as well as provide appropriate recommendations to a local government to improve the financial performance of its government in the future. This study involved 14 district governments and 2 cities in Lampung Province as a sample determined based on purposive sampling with the criteria of the regency/city government that has data on the financial independence ratio that is categorized as lacking. The analysis used was in the form of multiple linear regression and hypothesis test (t-test).

BALANCED SCORECARD IMPLEMENTATION AND BUDGET PERFORMANCE: THE MODERATING ROLE OF ORGANIZATIONAL CULTURE

Anastasia Yuanita Florenthe Lacaden — 2025-12-29

This study aims to examine the effect of the implementation of the Balanced Scorecard on budget performance, with organizational culture as a moderating variable within the Secretariat General of the House of Representatives of the Republic of Indonesia (Setjen DPR RI). The research is grounded in the importance of performance measurement that not only focuses on financial aspects but also incorporates non-financial dimensions that support the achievement of performance-oriented outcomes. The Balanced Scorecard is employed as a strategic measurement tool to assess the effectiveness of budget implementation through its four key perspectives: financial, customer, internal business processes, and learning and growth. A quantitative research method was used, with data collected through questionnaires distributed to 80 respondents consisting of employees across three main divisions: the Finance Administration Division, the State Asset Administration Division, and the Travel Management Division. Data analysis included validity testing, reliability testing, and classical assumption testing to ensure the feasibility of the research model. The findings reveal that the Balanced Scorecard has a positive effect on budget performance, and that organizational culture significantly moderates the relationship between the Balanced Scorecard and budget performance. Thus, this study strengthens the argument that synergy between a structured performance measurement system and a strong organizational culture is essential to achieving accountability and efficiency in public sector budget management.