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All Journal Jurnal EMT KITA Jurnal Komunitas: Jurnal Pengabidian Kepada Masyarakat International Journal of Educational Review, Law And Social Sciences (IJERLAS) Multidiciplinary Output Research for Actual and International Issue (Morfai Journal) International Review of Practical Innovation, Technology and Green Energy (IRPITAGE) JAKTABANGUN: Jurnal Akuntansi dan Pembangunan Altafani Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Muttaqien
Universitas Malikussaleh
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Public Health Social Sciences Other

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THE EFFECT OF GREEN INVESTMENT, FOREIGN INVESTMENT, AND ENERGY CONSUMPTION ON THE PROFITABILITY OF RENEWABLE ENERGY PROJECTS IN INDONESIAN COMPANIES Karmila; Muttaqien; Jummaini; Ristati
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.22728815

Abstract

This study aims to examine and analyze the effect of green investment, foreign investment, and energy consumption on the profitability of renewable energy projects in Indonesian companies. Profitability is measured using Return on Equity (ROE). The population comprises 15 companies engaged in new and renewable energy (NRE) projects in Indonesia. Applying purposive sampling based on the completeness of annual data for the 2020–2024 period yielded seven companies PT Alamtri Resources Indonesia Tbk, PT Arkora Hydro Tbk, PT Kencana Energi Lestari Tbk, PT Medco Energi Internasional Tbk, PT Pertamina Geothermal Energy Tbk, PT Bukit Asam Tbk, and PT TBS Energi Utama Tbk producing 35 panel observations. Secondary data were obtained from company annual reports and sustainability reports and analyzed using panel data regression. The Chow test identified the Common Effect Model (CEM) as the most appropriate estimator, and the model satisfied the classical assumption tests for normality, multicollinearity, heteroscedasticity, and autocorrelation. The partial (t-test) results show that green investment has a positive but statistically insignificant effect on profitability; foreign investment has a negative and significant effect on profitability, indicating that a higher share of foreign ownership tends to be associated with lower profitability; and energy consumption has a positive and significant effect on profitability, indicating that more productive energy use tends to improve earnings performance. Simultaneously (F-test), green investment, foreign investment, and energy consumption jointly and significantly affect profitability, jointly explaining 60.7% of its variance (Adjusted R² = 0.6065). These findings indicate that sustainability-oriented investment and external financing structures do not uniformly benefit corporate profitability, so companies need to manage green investment, foreign investment, and energy consumption more effectively to strengthen financial performance.
THE EFFECT OF FOREIGN DIRECT INVESTMENT (FDI), GREEN TECHNOLOGY INNOVATION, AND RENEWABLE ENERGY CONSUMPTION ON CARBON EMISSIONS IN DEVELOPING COUNTRIES Siti Nurhaliza; Muttaqien; Rico Nur Ilham; Wardhiah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.22729615

Abstract

This study aims to examine and analyze the effect of Foreign Direct Investment (FDI), green technology innovation, and renewable energy consumption on carbon emissions in developing countries. The population comprises 20 developing countries, from which eight countries with complete annual data for 2019–2024 ( South Africa, Brazil, Indonesia, Mexico, Nigeria, Thailand, Turkey, and Ukraine )were selected through purposive sampling, yielding 48 panel observations. Secondary data were obtained from the World Bank, Our World in Data, the International Energy Agency (IEA), and the International Renewable Energy Agency (IRENA), and analyzed using panel data regression. Model-selection procedures (Chow, Hausman, and Lagrange Multiplier tests) identified the Random Effect Model (REM) as the most appropriate estimator. The partial (t-test) results show that green technology innovation has a positive and significant effect on carbon emissions, indicating a rebound effect among the sampled countries, while renewable energy consumption has a negative and significant effect, supporting the energy substitution theory. FDI shows a positive but statistically insignificant effect on carbon emissions, consistent with offsetting forces between the pollution haven and pollution halo hypotheses. Simultaneously (F-test), FDI, green technology innovation, and renewable energy consumption jointly and significantly affect carbon emissions, jointly explaining 61.5% of its variance (Adjusted R² = 0.615).
FINANCIAL PERFORMANCE AND CORPORATE SOCIAL RESPONSIBILITY ON FIRM VALUE: MINING COMPANIES ON THE INDONESIA STOCK EXCHANGE, 2021–2024 Robiatul Jannah Daulay; Zulfan; Darmawati; Muttaqien
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.22729410

Abstract

This study examines the effect of financial performance, proxied by Return on Assets (ROA) and Return on Equity (ROE), and Corporate Social Responsibility (CSR) disclosure on firm value in mining companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. Firm value was measured using Price to Book Value (PBV), while CSR disclosure was measured through the Corporate Social Responsibility Index (CSRI) based on the Global Reporting Initiative (GRI) Standards 2021. Using a purposive sampling technique, 25 mining companies were selected, producing 100 firm-year observations analyzed through panel data regression with the Random Effect Model (REM), selected through the Chow and Hausman tests. The results show that ROA and ROE have a positive and significant effect on firm value, while CSR disclosure has a negative and significant effect on firm value. Simultaneously, the three variables significantly affect firm value, with an R-squared of 0.2085. These findings indicate that profitability remains the dominant signal investors rely on when assessing mining companies, whereas the cost burden associated with CSR implementation may temporarily depress market valuation. The study contributes to the literature on signaling and stakeholder theory in the context of Indonesia's resource-based industries.
THE EFFECT OF PRODUCT VARIETY, PRICE, AND DIGITAL MARKETING ON THE SUCCESS OF WOMEN’S HIJAB BUSINESSES IN LHOKSEUMAWE CITY Salsabila; Samsidar; Muttaqien; Agustinawati
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.22727053

Abstract

Increasingly tight competition in the hijab business requires business actors to offer the right products, prices, and marketing strategies, yet most of the 65 women's hijab businesses in Lhokseumawe City remain small-scale and struggle to increase sales. This study aims to examine the effect of product variation, price, and digital marketing on the business success of women's hijab enterprises in Lhokseumawe City. A quantitative approach was used with saturated sampling of 65 business actors; data were collected through a Likert-scale questionnaire and analyzed using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) method. Results show that product variation has a negative and insignificant effect, while price and digital marketing have positive and significant effects on business success, with the three variables together explaining 36.2% of its variance. It can be concluded that price is the most dominant factor, followed by digital marketing, while product variation has not proven to be a significant differentiator, so business actors are advised to prioritize competitive pricing and the optimization of digital marketing..
THE EFFECT OF REGIONAL REVENUE, BALANCING FUNDS, AND OTHER REVENUES ON THE FINANCIAL INDEPENDENCE OF PROVINCIAL GOVERNMENTS IN EASTERN INDONESIA Saoda Tharob; Muttaqien; Wardhiah; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.22728735

Abstract

This study aims to determine the influence of Regional Revenue, Balancing Funds, and Other Revenues on Regional Financial Independence in the Eastern Region of Indonesia for the 2021–2025 period. This study uses a quantitative method with secondary data obtained from the Directorate General of Fiscal Balance of the Ministry of Finance. The population consisted of the 12 provincial governments of Eastern Indonesia, producing 60 panel data observations (12 provinces × 5 years) selected through purposive sampling. Data analysis was carried out using panel data regression with the Random Effect Model (REM), which was selected based on the Chow, Hausman, and Lagrange Multiplier tests. The results of the study show that Regional Revenue and Balancing Funds do not have a significant effect on Regional Financial Independence, while Other Revenues have a positive and significant effect on Regional Financial Independence. This research shows that the optimization of regional revenue sources, particularly other legitimate revenues, needs to be improved to strengthen regional financial independence in the Eastern Region of Indonesia.
THE EFFECT OF THE COOPERATIVE'S ROLE, MEMBER PARTICIPATION, AND BUSINESS INNOVATION ON CLIENTS' ECONOMIC WELL-BEING AT THE KAMON OFFICE COOPERATIVE, BERELIKU VILLAGE, MALAKA REGENCY, EAST NUSA TENGGARA PROVINCE Andrini Maria Stefania Cauk; Muttaqien; Husaini; Marzuki
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 2 (2026): October
Publisher : PT. Radja Intercontinental Publishing

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Abstract

This study aims to analyse the influence of the cooperative's role, member participation, and business innovation on clients' economic well-being at the Kamon Office Cooperative in Bereliku Village, Malaka Regency, East Nusa Tenggara Province. The research employed an exploratory quantitative design, with a population comprising all 110 active members of the Kamon Office Cooperative. A saturated sampling (census) technique was used, in which the entire population served as the sample, while data were collected through a structured online questionnaire distributed via Google Forms. Data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4 software. The structural model results indicate that the cooperative's role has a positive but non-significant effect on clients' economic well-being (β = 0.160, t = 1.436, p = 0.151). Member participation likewise shows a positive but non-significant effect on clients' economic well-being (β = 0.119, t = 1.345, p = 0.179). In contrast, business innovation exerts a positive and significant effect on clients' economic well-being (β = 0.649, t = 4.933, p = 0.000). The R-square value indicates that 75.8% of the variance in clients' economic well-being is explained jointly by the three independent variables, while the remaining 24.2% is explained by variables outside the model. These findings demonstrate that business innovation is the most dominant driver of improved economic well-being among clients of the Kamon Office Cooperative, underscoring the need for cooperatives to modernise their services and operational systems alongside strengthening their institutional role and member participation.
Dynamics Of Green Industry And Green Human Resource Management Implementation In Enhancing Employee Performance At PTPN I Likdanawati; Marbawi; Hamdiah; Muttaqien; Juliana Ariska; Hafsah Indah Lestari
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 6 No. 1 (2026)
Publisher : RADJA PUBLIKA

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Abstract

Growing environmental pressure has increased the need for plantation companies to integrate sustainability principles into operational and human resource practices. This study examines the effects of Green Industry (GI) and Green Human Resource Management (GHRM) on employee performance at PTPN I and evaluates which approach is more closely associated with employee-level outcomes. A quantitative associative design was employed. Primary data were collected through structured questionnaires from permanent employees selected using purposive sampling, with eligibility based on at least one year of service and involvement in activities related to GI and GHRM. The constructs were assessed using a Likert-scale instrument and analyzed using partial least squares structural equation modeling (PLS-SEM). The measurement model met the required reliability and convergent validity criteria, with outer loadings above 0.70, AVE values above 0.50, and composite reliability values above 0.70. The structural model showed that GI had a positive but statistically insignificant effect on employee performance (beta = 0.201; t = 1.362; p = 0.173), whereas GHRM had a positive and significant effect (beta = 0.568; t = 4.536; p < 0.001). The model explained 51.8% of the variance in employee performance. These findings indicate that sustainability policies generate stronger employee-level outcomes when they are embedded in recruitment, training, appraisal, and reward practices. The study contributes practical evidence for aligning green operational initiatives with strategic human resource management in plantation-sector organizations.
THE EFFECT OF CURRENT RATIO, RETURN ON EQUITY, FIRM SIZE, AND DEBT-TO-EQUITY RATIO ON STOCK PRICES OF COAL SUBSECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE DURING THE 2021–2025 Yesi Safitri; Rico Nur Ilham; Ghazali Syamni; Muttaqien; Frengki Putra Ramansyah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

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Abstract

This study aims to analyze the effect of the Current Ratio (CR), Return on Equity (ROE), Firm Size, and Debt-to-Equity Ratio (DER) on the stock prices of coal subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2025 period. The research population consisted of all 34 coal subsector companies listed on the IDX, with a final sample of 26 companies selected using purposive sampling, resulting in 130 panel data observations. Secondary data, including annual financial statements and year-end closing stock prices, were analyzed using panel data regression with EViews software. The Random Effects Model (REM) was selected as the most appropriate model based on the Chow test, Hausman test, and Lagrange Multiplier test. The results indicate that, partially, the Current Ratio (CR), Return on Equity (ROE), and Debt-to-Equity Ratio (DER) have no significant effect on stock prices, while Firm Size has a positive and significant effect. Simultaneously, all four independent variables have a significant effect on stock prices, with an adjusted R-squared value of 0.1553, indicating that the model explains 15.53% of the variation in stock prices, while the remaining 84.47% is explained by other factors outside the model. These findings suggest that investors in the coal sector place greater emphasis on a company's scale and stability than on conventional financial ratios when making investment decisions.
Co-Authors Aftri Shanda Agustinawati Akhyar, Chairil Alisa Adelena Alya Maulisa Amru Usman Andrini Maria Stefania Cauk Arliansyah Aulia Syuhada Boby Loser Krisnandar Cut Tria Faradilla Cut Zira Maulida Darmawati Doli Eliza Nopita Falahuddin Farid Haikal fauzan Frengki Putra Ramansyah Fuadi Fuadi Ghazali Syamni Hafsah Indah Lestari Hamdiah Hamdiah Hasatiru Auwa Husaini Indah Sari Yusmita Iqbal Irada Sinta Ishak Samusi Juliana Ariska Jummaini Karmila Likdanawati Lily Andari Mukhtar M. Raja Rafli maisyuri maisyuri Maisyuri Maisyuri Marzuki Marzuki Mawaddah Miranda Mohd. Heikal Muammar Khaddafi Muchtar, Darmawati Muhammad Akram Muhammad Hafizh Muhammad Hafizh Muhammad Multazam Munandar Munandar Muti Miftahul Jannah Mutia Rahmah Nadia Mulya Naufal Bachri, Naufal Nurlela Reza Juanda Rico Nur Ilham Ristati Ristati Robiatul Jannah Daulay Salawati Salawati Salsabila Samsidar Saoda Tharob Sapna Biby Sari Yulis Terfiadi Shalawati Silvia Rizki Ramadana Siti Nurhaliza Soqia Salsabila Tarmizi Abbas Thasrif Murhadi Ulfia Rahmi Wahyuddin Wardhiah, Wardhiah Yesi Safitri Yuyun Wahyuni Zulfan