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The Effect of Enterprise Risk Management and Financial Ratios on The Potential for Financial Distress and its Impact on The Firm Value of Pharmaceutical Companies Listed on The Indonesia Stock Exchange Busyron Chudlori; Endang Etty Merawati; Nana Nawasiah
Eduvest - Journal of Universal Studies Vol. 5 No. 11 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i11.51491

Abstract

This study aims to analyze the effect of Enterprise Risk Management and financial ratios, including liquidity, leverage, and profitability, on the potential for financial distress and its impact on firm value in pharmaceutical companies listed on the Indonesia Stock Exchange. This research uses a quantitative approach, involving data collection and statistical analysis to investigate phenomena and test the relationships between variables in a structured manner, focusing on Enterprise Risk Management, financial ratios, financial health, and firm value. The population of this study consists of 12 (twelve) pharmaceutical companies listed on the Indonesia Stock Exchange during the period 2016–2023. The sample was selected using purposive sampling, comprising 10 (ten) pharmaceutical companies that consistently published their annual and financial reports during the period 2016–2023. Data were collected through documentation and non-participatory observation methods. The secondary data used in this study were obtained from published audited financial and annual reports. The statistical analysis was conducted using the Structural Equation Modeling (SEM) method with Smart Partial Least Squares (PLS), operated through Smart PLS software version 4.1.0.9. The results indicate that Enterprise Risk Management, leverage, and financial distress have a positive and significant effect on firm value. On the other hand, liquidity has a negative and significant effect, while profitability shows a negative but insignificant effect on firm value. Additional findings related to financial distress show that liquidity and profitability have a positive and significant effect on financial distress as proxied by the Z-Score, where a higher Z-Score indicates a lower potential for financial distress.
Organizational Culture and Competence Effects on Performance with Employee Engagement Moderation Devi Octavia Leweinzky; Seta A. Wicaksana; Lola Fitria Sari; Nana Nawasiah
Interdisciplinary Social Studies Vol. 5 No. 2 (2026): Interdisciplinary Social Studies
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v5i2.1055

Abstract

This study analyzes the influence of organizational competence and culture on organizational performance, with employee engagement as a moderating variable. The background emphasizes improving human resources and organizational culture to enhance performance in public institutions, particularly government agencies. Employing a quantitative approach with moderated regression analysis (MRA) via STATA, the study used a saturated sample of 76 respondents. Results show organizational competencies and culture positively and significantly affect employee engagement, which in turn significantly influences organizational performance. However, employee engagement did not significantly moderate the relationship between competencies, organizational culture, and organizational performance. The model explained over 60% of organizational performance variation, indicated by high R-squared values. This study offers novel empirical evidence that employee engagement acts as a mediator, not moderator, in the competence-culture-performance link within Indonesian public sectors—challenging private sector assumptions. Findings urge government agencies to prioritize employee engagement development as a mediating pathway for translating competence and culture investments into performance gains, informing effective human resource strategies for bureaucratic reform.
Pengaruh Hybrid Work Dan Work Stress Terhadap Job Satisfaction Dengan Mediasi Work Life Balance Dan Job Security Sebagai Variabel Moderasi (Studi Kasus Pegawai Departemen Sumber Daya Manusia di Lembaga XYZ) Septi Puspita Dewi; Mombang Sihite; Nana Nawasiah
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 1 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i1.9905

Abstract

The purpose of this study is to analyze the influence of Hybrid Work and Work Stress on Work Life Balance, analyze the influence of Hybrid Work , Work Stress, and Work Life Balance on Job Satisfaction , analyze the influence of Hybrid Work and Work Stress on Job Satisfaction mediated by Work Life Balance, analyze the analysis of Work Life Balance on Job Satisfaction moderated by Job Security. This study uses a quantitative approach with an explanatory design. The population in this study were all employees of the Human Resources Department of XYZ. The sampling method used was probability sampling, the sampling technique used simple random sampling, the determination of the sample size used SEM provisions of 154 respondents. The data analysis method used Structural Equation Model (SEM) using the Smartpls program version 3.2.9. The results of the study prove that Hybrid Work affects Work Life Balance, Work Stress affects Work Life Balance, Hybrid Work affects Job Satisfaction , Work Stress affects Job Satisfaction , Work Life Balance affects Job Satisfaction , Job Security can moderate the influence of Work Life Balance on Job Satisfaction .
The Role of Learning Engagement in Mediating the Effect of LMS Quality and Mentoring on Training Participants’ Satisfaction at BP2TL Jakarta Liana Ayu Katriani; Mombang Sihite; Nana Nawasiah; Lola Fitria Sari; Zulkifli Zulkifli
Growth: Journal Management and Business Vol. 4 No. 01 (2026): June 2026
Publisher : Lentera Ilmu Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59422/growth.v4i01.1578

Abstract

This study aims to analyze the effect of Learning Management System (LMS) quality and work-unit mentoring on training participant satisfaction, with learning engagement as a mediating variable. The research was conducted on participants of the 2025 Priority Functional Technical Training at BP2TL Jakarta. This study uses a quantitative method with a survey approach. The research sample consisted of 140 respondents determined using a purposive sampling technique. Data were collected through a Likert-scale questionnaire and analyzed using the Structural Equation Modeling–Partial Least Square (SEM-PLS) method. The results show that LMS quality has a positive effect on learning engagement and training participant satisfaction. Work-unit mentoring is also proven to have a positive effect on learning engagement and training participant satisfaction. In addition, learning engagement has a positive effect on training participant satisfaction. Compared to LMS quality, work-unit mentoring has a greater effect on learning engagement, while learning engagement is the strongest factor in shaping participant satisfaction. These findings confirm the importance of LMS quality, strengthened mentoring, and increased participant engagement in the implementation of self-directed learning. This study provides implications for BP2TL Jakarta to continue developing the role of mentoring sustainably and improving LMS quality to support the competency development of civil servants (ASN).
The Effect of LMS-Based Hybrid Learning on Seafarer Upgrading Training Participants' Satisfaction through Technology Acceptance and Digital Literacy at BP2TL Jakarta Fathul Muin; Mombang Sihite; Nana Nawasiah; Derriawan Derriawan; Lola Fitria Sari
Growth: Journal Management and Business Vol. 4 No. 01 (2026): June 2026
Publisher : Lentera Ilmu Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59422/growth.v4i01.1585

Abstract

This study aims to analyze the effect of implementing Learning Management System (LMS)-based hybrid learning on the satisfaction of Level III, IV, and V seafarer upgrading training participants at the Jakarta Sea Transportation Education and Training Center (BP2TL Jakarta), with technology acceptance and digital literacy as mediating variables. This study uses a quantitative approach with an explanatory research design. The research population consisted of 172 participants divided into the Nautical Officer and Marine Engineering programs at Levels III, IV, and V. The sample was determined using a stratified random sampling technique based on the criteria of Hair et al. (2021), with a minimum of 150 respondents, and 163 valid questionnaires were successfully collected. Data were analyzed using the Structural Equation Modeling–Partial Least Square (SEM-PLS) method with the help of SmartPLS software. The results show that the implementation of LMS-based hybrid learning has a positive and significant effect on technology acceptance, digital literacy, and training participants' satisfaction. Digital literacy was also proven to have a positive and significant effect on training participants' satisfaction, while technology acceptance had no significant effect on training participants' satisfaction. The mediation analysis further shows that digital literacy significantly mediates the relationship between LMS-based hybrid learning and training participants' satisfaction, whereas technology acceptance does not demonstrate a significant mediating role. This pattern indicates that digital literacy provides a partial mediation mechanism because LMS-based hybrid learning remains directly associated with training participant satisfaction. These findings indicate that the success of LMS-based learning is not only determined by participants' acceptance of technology but is more determined by participants' ability to effectively utilize digital technology to support the learning process. This study implies that BP2TL Jakarta needs to continue improving the quality of its LMS, strengthening participants' digital literacy, and developing a more flexible, interactive hybrid learning model that suits the needs of seafarer training participants.
Does ESG Integration Improve Islamic Bank Performance? Evidence from Indonesian Islamic Banking Nana Nawasiah; Sri Ambarwati; Tri Astuti; Agustinus. W Miranda; Ryan Wijaya
International Journal of Applied Business and International Management Vol 11, No 2 (2026): August 2026
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijabim.v11i2.4724

Abstract

Sustainable finance has become a regulatory priority for banking, yet evidence on whether environmental, social, and governance (ESG) integration improves Islamic bank performance is scarce, and conventional ESG ratings rarely capture Shariah-specific value creation. This study develops an ESG-Syariah Index grounded in Maqasid al-Sharia and tests its association with the performance of Indonesian Islamic commercial banks. ESG disclosure was scored through content analysis of annual and sustainability reports for 2021–2024 and merged with financial data, yielding 15–16 bank-year observations for ROA, ROE, NPF, FDR, and BOPO, estimated by panel regression with robust standard errors. The mean ESG-Syariah score is 73.58 (SD = 20.53), indicating uneven adoption. ESG correlates negatively with NPF (r = ?0.474, p 0.05). Coefficients follow the expected direction for ROA (? = 0.076, p = 0.451), ROE (? = 0.045, p = 0.789), NPF (? = ?0.014, p = 0.793), and BOPO (? = ?0.476, p = 0.771), but none is statistically significant (R² = 0.371–0.920); dimension-level and lagged specifications confirm this pattern. ESG integration therefore shows theoretically consistent but statistically unconfirmed associations.
Analisis Kelayakan Sosial Ekonomi Program Smart Road Safety Policing di Kota Surakarta Menggunakan Pendekatan Cost Benefit Analysis dan Cost-Effectiveness Analysis Luluk Nurhayati; Irma Sari Permata; Nana Nawasiah
Journal of Accounting and Finance Management Vol. 7 No. 3 (2026): Journal of Accounting and Finance Management (July - August 2026)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v7i3.3689

Abstract

Kecelakaan lalu lintas masih menjadi salah satu masalah kesehatan masyarakat dan pembangunan paling serius di Indonesia, termasuk di Kota Surakarta, yang tetap mencatatkan fatalitas dan kerugian material signifikan meskipun jumlah kasus kecelakaan menurun. Sebagai respons, Korlantas Polri bersama Polresta Surakarta mengimplementasikan Program Smart Road Safety Policing yang mengintegrasikan CCTV analitik berbasis Artificial Intelligence, Automatic Number Plate Recognition (ANPR), Electronic Traffic Law Enforcement (ETLE), dan command centre terintegrasi. Penelitian terdahulu telah mengevaluasi perubahan outcome keselamatan lalu lintas pascaprogram, namun analisis kelayakan sosial-ekonomi yang komprehensif masih belum tersedia, sehingga menjadi research gap yang diisi oleh penelitian ini. Penelitian ini bertujuan menilai kinerja keselamatan, kelayakan sosial-ekonomi, dan efektivitas biaya program menggunakan data sekunder deret waktu (2018-2025), Road Safety Index (RSI), Cost-Benefit Analysis (CBA), dan Cost-Effectiveness Analysis (CEA). Hasil menunjukkan penurunan fatalitas dari rata-rata 58,67 jiwa per tahun (pra-program) menjadi 47 jiwa pada 2024 (turun 19,9%), dengan RSI mencapai 4,25. Hasil CBA menghasilkan Net Present Value positif sebesar Rp50.278.060.863, Benefit-Cost Ratio sebesar 1,63, dan Economic Rate of Return sebesar 37,5%. Hasil CEA berbasis kerangka WHO-CHOICE menunjukkan biaya per DALY yang dicegah berkisar Rp3.300.000-Rp19.813.000, jauh di bawah PDB per kapita Indonesia. Kebaruan penelitian ini terletak pada pengintegrasian RSI, CBA, dan CEA dalam satu kerangka evaluasi yang menunjukkan bahwa program ini aman, layak, dan sangat cost-effective.
PT PP BAJABANG INDONESIA'S STRATEGY IN IMPROVING WORKFORCE PRODUCTIVITY Ardikarsa, Diba Andika; Miranda, Agustinus; Derriawan, Derriawan; Sari, Lola Fitria; Nawasiah, Nana
Journal of Business Studies and Management Review Vol. 9 No. 2 (2026): JBSMR, Vol 9 No.2 June 2026
Publisher : Management Department, Faculty of Economics and Business, Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/jbsmr.v9i2.54434

Abstract

This study aims to analyze the management strategy of PT PP Bajabang Indonesia in increasing labor productivity through an approach to internal and external factors of the company. The study used a mixed method, namely a combination of quantitative and qualitative approaches. Quantitative data were obtained through the distribution of questionnaires to 100 workers to measure variables of work motivation, work discipline, work environment, and labor productivity. Analysis was conducted using Pearson correlation. Meanwhile, qualitative data were obtained through in-depth interviews with management and field supervisors to identify strategic factors that influence productivity. The research results show that work discipline has the strongest influence on workforce productivity, followed by work motivation and the work environment. Qualitative findings reveal that the main obstacles to increasing productivity lie in fluctuations in workforce performance, a suboptimal monitoring system, and limited skilled labor. Based on the SWOT analysis, recommended priority strategies include improving workforce training and certification, strengthening the production monitoring system, and implementing performance evaluation based on measurable indicators. This study concludes that increasing labor productivity requires integration between strengthening human resources, effective monitoring systems, and management strategies based on analysis of the company's internal and external environment.
PENGARUH PENENTUAN LOKASI TERHADAP KESUKSESAN USAHA JASA BERSKALA MIKRO/KECIL Wisnu Adhi Putra; Nana Nawasiah; Murti Widyaningsih
JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) Vol 6, No 1 (2020): Vol 6, No 1 (2020)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34203/jimfe.v6i1.1893

Abstract

Business location is a place where companies produce goods or services that focus on the economy. The development of a company is determined by one important factor, namely location decision. The purpose of this study is to determine the effect of location decision (based on business environment conditions, infrastructure availability, and location costs) on business success. Data collection in this study was carried out through observation, interviews, and distributing questionnaires to several micro/small scale copy center business owners in Jagakarsa, South Jakarta. Analysis of the data in this study uses multiple linear regression analysis. This study provides results that the condition of the business environment, the availability of infrastructure, and location costs have a positive and significant effect both partially and simultaneously on business success. Therefore, as an effort to achieve and increase business success, business owners must consider the condition of the business environment, the availability of infrastructure, and location costs when determining/choosing a business location.