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Operational Effectiveness and Leverage on Profitability: The Moderating Role of Sales Growth in ASEAN Technology Companies Reza Ananda Setya; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.978

The main objective of the research is to analyze how operational efficiency and leverage affect profitability with ASEAN technology companies in 2024, using sales growth as a moderating variable. This study utilizes secondary data, covering all technology companies in ASEAN listed in the Osiris database in 2024. The sample was determined using specific criteria, resulting in 87 samples from a population of 288. The research methodology employs a quantitative approach through statistical analysis using Moderated Regression Analysis (MRA). The findings of the study show that operational effectiveness has a positive impact on profitability, while leverage has an effect on profitability. Furthermore, sales growth does not moderate the effect of operational effectiveness and leverage on profitability. These findings identify that in increasing profitability, technology companies rely more on internal funding. Therefore, the more effectively a company utilizes its resources in carrying out operational activities, the greates its level of profitability will be.

Operational Effectiveness and Leverage on Profitability: The Moderating Role of Sales Growth in ASEAN Technology Companies Reza Ananda Setya; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.978

The main objective of the research is to analyze how operational efficiency and leverage affect profitability with ASEAN technology companies in 2024, using sales growth as a moderating variable. This study utilizes secondary data, covering all technology companies in ASEAN listed in the Osiris database in 2024. The sample was determined using specific criteria, resulting in 87 samples from a population of 288. The research methodology employs a quantitative approach through statistical analysis using Moderated Regression Analysis (MRA). The findings of the study show that operational effectiveness has a positive impact on profitability, while leverage has an effect on profitability. Furthermore, sales growth does not moderate the effect of operational effectiveness and leverage on profitability. These findings identify that in increasing profitability, technology companies rely more on internal funding. Therefore, the more effectively a company utilizes its resources in carrying out operational activities, the greates its level of profitability will be.

PENGARUH INDUSTRI DAN PAJAK DAERAH TERHADAP KEMANDIRIAN KEUANGAN KABUPATEN/KOTA PROVINSI JAWA TIMUR Wiwid Dyah Eva Iswanti; Loggar Bhilawa
Jurnal Akuntansi, Keuangan, Perpajakan dan Tata Kelola Perusahaan Vol. 3 No. 4 (2026): Juni
Publisher : Yayasan Nuraini Ibrahim Mandiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70248/jakpt.v3i4.4068

Penelitian ini bertujuan menganalisis pengaruh kontribusi sektor industri dan pajak daerah terhadap kemandirian keuangan daerah pada kabupaten/kota di Provinsi Jawa Timur periode 2020–2024. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan analisis regresi data panel terhadap 190 observasi yang mencakup 38 kabupaten/kota selama lima tahun menggunakan teknik sampling jenuh. Pemilihan model dilakukan melalui uji Chow dan Hausman yang menetapkan Two-Way Fixed Effects Model sebagai model terbaik, sedangkan estimasi dilakukan menggunakan robust standard error metode White period (cross-section cluster) untuk mengatasi pelanggaran asumsi klasik. Hasil penelitian menunjukkan bahwa kontribusi sektor industri tidak berpengaruh signifikan terhadap kemandirian keuangan daerah, sedangkan pajak daerah berpengaruh positif dan signifikan terhadap kemandirian keuangan daerah. Secara simultan, kontribusi sektor industri dan pajak daerah berpengaruh signifikan terhadap kemandirian keuangan daerah dengan kemampuan model menjelaskan variasi variabel dependen sebesar 89,40%. Simpulan penelitian ini menunjukkan bahwa peningkatan aktivitas sektor industri belum mampu meningkatkan kemandirian keuangan daerah apabila manfaat fiskalnya tidak menjadi kewenangan pemerintah daerah, sedangkan optimalisasi penerimaan pajak daerah berperan penting dalam memperkuat kapasitas fiskal dan meningkatkan kemandirian keuangan daerah.

PENGARUH TEKNOLOGI POINT OF SALES BERBASIS CLOUD TERHADAP EFISIENSI OPERASIONAL SISTEM INFORMASI AKUNTANSI PADA UMKM Annisa Zalwa Asharo; Loggar Bhilawa
Jurnal Akuntansi, Keuangan, Perpajakan dan Tata Kelola Perusahaan Vol. 3 No. 4 (2026): Juni
Publisher : Yayasan Nuraini Ibrahim Mandiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70248/jakpt.v3i4.4086

Penelitian ini bertujuan untuk menganalisis pengaruh Perceived Ease of Use dan Perceived Usefulness terhadap efisiensi operasional sistem informasi akuntansi pada UMKM sektor makanan dan minuman di Kota Surabaya yang menggunakan teknologi Point of Sales (POS) berbasis cloud, serta menguji peran User Experience sebagai variabel moderasi. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan jenis penelitian asosiatif. Sampel penelitian terdiri atas 382 pelaku UMKM sektor makanan dan minuman di Kota Surabaya yang dipilih menggunakan teknik purposive sampling berdasarkan kriteria telah menggunakan POS berbasis cloud minimal tiga bulan. Data penelitian dikumpulkan melalui penyebaran kuesioner dan dianalisis menggunakan regresi linier berganda serta Moderated Regression Analysis (MRA) dengan bantuan perangkat lunak IBM SPSS Statistics. Hasil penelitian menunjukkan bahwa Perceived Ease of Use dan Perceived Usefulness berpengaruh positif terhadap efisiensi operasional sistem informasi akuntansi. Perceived Ease of Use memiliki pengaruh yang lebih besar dibandingkan Perceived Usefulness dalam meningkatkan efisiensi operasional. Selain itu, User Experience tidak mampu memoderasi pengaruh Perceived Ease of Use terhadap efisiensi operasional, namun terbukti memoderasi pengaruh Perceived Usefulness terhadap efisiensi operasional dengan arah moderasi negatif. Simpulan penelitian ini menunjukkan bahwa kemudahan penggunaan dan manfaat yang dirasakan dari teknologi POS berbasis cloud menjadi faktor penting dalam meningkatkan efisiensi operasional sistem informasi akuntansi pada UMKM, sedangkan peran pengalaman pengguna dalam memperkuat hubungan antara penerimaan teknologi dan efisiensi operasional bersifat kontekstual.

Does Size Really Matter? Asset Turnover, Capital Structure, and the Performance of ASEAN Retail Companies Muhammad Azziz Zaahran Bima Harri Putra; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.968

This reasearch assesses the extent to which Asset Turnover and Debt to Equity Ratio affects on the company's financial performance (ROA) through company size as a moderation variable. This study uses a quantitative approach with the formulation of associative problems. The population in this study includes all retail companies in Southeast Asia contained in the OSIRIS financial database for the 2024 period, with data collection techniques in the form of documentation obtained from the OSIRIS financial database. The analysis method used was moderation regression analysis. The results of the study show that Asset Turnover has a significant positive effect on Return on Asset, in contrast to Debt to Equity Ratio which has no effect on Return on Asset. Furthermore, firm size cannot moderate between Asset Turnover and Return on Asset, this is the same as the result between Debt to Equity Ratio and Return on Asset which shows that firm size cannot moderate between the two variables. These findings show that asset efficiency is an important factor in increasing the profitability of the retail sector, while capital structure and company scale are not the main guarantees of the financial performance of the retail sector in ASEAN. The implication of this study is that retail sector management should prioritize optimizing asset turnover rather than focusing too much on debt and equity composition.

An Analysis of the Role of the Management and Utilization of Local Fixed Assets in Supporting Local Revenue of Mojokerto City Syavina Rachma Delia; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1112

This study analyzes the management and utilization of fixed assets in supporting the local goverment’s revenue in Mojokerto City. A descriptive qualitative approach was employed, involving deep interviews with 14 informans for 6 Local Goverment Organizations, observations, and documentation. The findings indicate that the administrative asset management aligns with existing regulations and is supported by E-BMD applications. However, it remains suboptimal due to the lack of specialized Standard Operating Procedures (SOPs), human resource containts, incomplete asset data, and prolonged bureaucratic workflows. Asset utilization through rentals, joint operations, and regional levies contributes to local revenue, with the largest contribution coming from Right-of-Way (Rumija) utilization exceeding Rp10 billion annually. Obstacles encountered include administrative indiscipline, rigid bureaucracy, limited maintenance budgets, and low public compliance. This study implies that establishing dedicated technical units (UPTD), accelerating localized regulations, and enforcing institutional digitization are imperative to unlock the sustainable economic value of public assets for fiscal independence.

The Effect of Cloud-Based Point of Sale (Pos) Technology on the Speed and Accuracy of Accounting Information Systems in Micro, Small, And Medium Enterprises (MSMEs) April Lianingsih; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1168

Indonesian MSMEs face inequality in the adoption of accounting technology which causes reporting delays and a high risk of recording errors. This study aims to analyze the effect of the ease of use and usability of cloud-based POS on the speed and accuracy of the Accounting Information System (SIA), as well as the role of digital competence as a moderation variable. Data were collected through a Likert scale questionnaire of 1–4 to 100 F&B MSME respondents in Surabaya using purposive sampling, analyzed by multiple linear regression and Moderated Regression Analysis (MRA). The results showed that the ease of use (sig. 0.000) and usability (sig. 0.000) of cloud POS had a positive and significant effect on the speed and accuracy of SIA. Digital competence was proven to strengthen both influences (sig. 0.009 and 0.040), with an Adjusted R Square of 50.1%. MSME actors are advised to increase digital literacy so that the benefits of cloud POS can be optimized.

Does Size Really Matter? Asset Turnover, Capital Structure, and the Performance of ASEAN Retail Companies Muhammad Azziz Zaahran Bima Harri Putra; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.968

This reasearch assesses the extent to which Asset Turnover and Debt to Equity Ratio affects on the company's financial performance (ROA) through company size as a moderation variable. This study uses a quantitative approach with the formulation of associative problems. The population in this study includes all retail companies in Southeast Asia contained in the OSIRIS financial database for the 2024 period, with data collection techniques in the form of documentation obtained from the OSIRIS financial database. The analysis method used was moderation regression analysis. The results of the study show that Asset Turnover has a significant positive effect on Return on Asset, in contrast to Debt to Equity Ratio which has no effect on Return on Asset. Furthermore, firm size cannot moderate between Asset Turnover and Return on Asset, this is the same as the result between Debt to Equity Ratio and Return on Asset which shows that firm size cannot moderate between the two variables. These findings show that asset efficiency is an important factor in increasing the profitability of the retail sector, while capital structure and company scale are not the main guarantees of the financial performance of the retail sector in ASEAN. The implication of this study is that retail sector management should prioritize optimizing asset turnover rather than focusing too much on debt and equity composition.

An Analysis of the Role of the Management and Utilization of Local Fixed Assets in Supporting Local Revenue of Mojokerto City Syavina Rachma Delia; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1112

This study analyzes the management and utilization of fixed assets in supporting the local goverment’s revenue in Mojokerto City. A descriptive qualitative approach was employed, involving deep interviews with 14 informans for 6 Local Goverment Organizations, observations, and documentation. The findings indicate that the administrative asset management aligns with existing regulations and is supported by E-BMD applications. However, it remains suboptimal due to the lack of specialized Standard Operating Procedures (SOPs), human resource containts, incomplete asset data, and prolonged bureaucratic workflows. Asset utilization through rentals, joint operations, and regional levies contributes to local revenue, with the largest contribution coming from Right-of-Way (Rumija) utilization exceeding Rp10 billion annually. Obstacles encountered include administrative indiscipline, rigid bureaucracy, limited maintenance budgets, and low public compliance. This study implies that establishing dedicated technical units (UPTD), accelerating localized regulations, and enforcing institutional digitization are imperative to unlock the sustainable economic value of public assets for fiscal independence.

The Effect of Cloud-Based Point of Sale (Pos) Technology on the Speed and Accuracy of Accounting Information Systems in Micro, Small, And Medium Enterprises (MSMEs) April Lianingsih; Loggar Bhilawa
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.1168

Indonesian MSMEs face inequality in the adoption of accounting technology which causes reporting delays and a high risk of recording errors. This study aims to analyze the effect of the ease of use and usability of cloud-based POS on the speed and accuracy of the Accounting Information System (SIA), as well as the role of digital competence as a moderation variable. Data were collected through a Likert scale questionnaire of 1–4 to 100 F&B MSME respondents in Surabaya using purposive sampling, analyzed by multiple linear regression and Moderated Regression Analysis (MRA). The results showed that the ease of use (sig. 0.000) and usability (sig. 0.000) of cloud POS had a positive and significant effect on the speed and accuracy of SIA. Digital competence was proven to strengthen both influences (sig. 0.009 and 0.040), with an Adjusted R Square of 50.1%. MSME actors are advised to increase digital literacy so that the benefits of cloud POS can be optimized.

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