Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Al-Kharaj: Journal of Islamic Economic and Business Society: Jurnal Pengabdian Masyarakat
Novy Fajriati
Telkom University
Computer Science & IT Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Social Sciences

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Financial Distress in Textile and Garment Firms: The Role of Executive Compensation, Sales Growth, and Operating Capacity Haifa Khairatun Hisan; Dudi Pratomo; Novy Fajriati
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countrie
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.11155

Abstract

This study examines the relationship between financial difficulty and operating capacity, sales growth, and executive compensation in textile and apparel companies listed on the Indonesia Stock Exchange (IDX) between 2020 - 2024. Grounded in Signaling Theory, the study investigates whether these factors influence the likelihood of financial distress. Quantitative secondary data was utilized from yearly reports and financial statements. Purposive sampling was used to pick 17 companies for the sample, yielding 85 panel observations. The Altman Z-Score was used to gauge financial distress, and panel regression using the REM, which was chosen using the Chow, Hausman, and Lagrange Multiplier tests, was used to analyze the data. Higher compensation may improve managerial effectiveness and lessen financial challenges, based on the research, financial turmoil is significantly impacted negatively by executive salary. Sales Growth shows an insignificant effect, suggesting that increased sales do not necessarily improve a firm’s financial condition. On the other hand, operating capacity has a positive effect on financial distress, indicating that operational stress rather than better financial performance may be the cause of increasing asset turnover. Collectively, the independent variables significantly affect Financial Distress. These findings support Signaling Theory by demonstrating that managerial, growth, and operational factors provide signals regarding a firm’s financial condition. The results suggest that companies should implement effective executive compensation policies and improve operational management to mitigate financial distress risk. Future research is urged to include more variables and cover a wider range of industries in order to provide a more thorough knowledge of the factors that contribute to financial distress. Keywords: Executive Compensation, Financial Distress, Operating Capacity, Sales Growth, Signaling Theory
Strengthening Financial Planning Competencies among High School Students: A Community Engagement Program at SMA Edu Global Bandung Maya Safira Dewi; Raden Roro Widya Ningtyas Soeprajitno; Novy Fajriati
Society : Jurnal Pengabdian Masyarakat Vol. 5 No. 4 (2026): Juli
Publisher : Edumedia Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55824/5qb23j30

Abstract

The rapid growth of digital financial services has increased adolescents’ access to a range of financial products, including digital payments, e-wallets, and buy-now-pay-later services. However, this increased access is not always accompanied by adequate financial planning competencies, which can expose students to poor financial decision-making and consumerist behavior. This community engagement program aimed to strengthen students' financial planning competencies at SMA Edu Global Bandung through financial literacy education, practical budgeting exercises, financial planning workshops, and training in digital financial record-keeping using the Sepran Expense Manager application. The program involved approximately 150 students from Grades X, XI, and XII. Program effectiveness was evaluated using pre-test and post-test assessments administered to students who completed both questionnaires. The results indicate improvements across all financial planning indicators, particularly in understanding personal financial management, budgeting, and saving practices. Students also demonstrated greater awareness of the difference between needs and wants, of controlling impulsive spending, and of utilizing digital tools to support financial management. The findings suggest that combining financial literacy education with experiential learning activities can effectively improve students’ financial planning competencies and promote more responsible financial behavior. The program highlights the importance of integrating practical financial planning education into school-based student development activities to prepare adolescents for increasingly complex digital financial environments.
Co-Authors Dudi Pratomo Haifa Khairatun Hisan Maya Safira Dewi Raden Roro Widya Ningtyas Soeprajitno