Article Per Year (5 Year)
p-Index From 2021 - 2026
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All Journal Journal of Management and Social Sciences Economica: Journal of Economic and Economic Education
Hari Sriwijayanti
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Social Sciences Transportation

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Cash Flow vs. Digital Flow: The Role of Online Sales in Maintaining MSME Financial Stability Hari Sriwijayanti; Shinta Bella; Nike Apriyanti
Journal of Management and Social Sciences Vol. 5 No. 2 (2026): May: Journal of Management and Social Sciences
Publisher : Sekolah Tinggi Ilmu Administrasi (STIA) Yappi Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/jimas.v5i2.2500

Abstract

This study aims to analyze the role of online sales in maintaining the financial stability of Micro, Small, and Medium Enterprises (MSMEs) in West Sumatra, Indonesia. The increasing adoption of digital channels, such as marketplaces, social media, messaging applications, live selling, and digital payment systems, has transformed online sales into not only marketing tools but also mechanisms that may affect cash flow continuity and business sustainability. Despite their growing importance, empirical evidence regarding the contribution of online sales to MSME financial stability remains limited. This study employs a quantitative explanatory research design. The population consists of MSME owners in West Sumatra who utilize online sales, while purposive sampling was used to select respondents who had engaged in online selling for at least one year and maintained cash flow records. Data were collected from 102 respondents through a structured questionnaire using a five-point Likert scale and analyzed using Partial Least Squares-Structural Equation Modeling (PLS-SEM). The findings reveal that online sales have a positive and significant effect on financial stability, with a path coefficient of 0.632, a t-value of 9.214, and a p-value below 0.001. These results indicate that effective use of online sales enhances cash flow continuity, income regularity, working capital adequacy, and financial resilience. However, the benefits depend on disciplined management of digital costs, discounts, platform fees, shipping expenses, product returns, and cash flow records. This study contributes to MSME digitalization literature by highlighting online sales as a strategic instrument for strengthening financial stability rather than merely a marketing channel.
THE INFLUENCE OF PROFITABILITY, LEVERAGE AND DIVIDEND POLICY ON STOCK PRICES Anatia Agusti; Hari Sriwijayanti; Devi Edriani
JURNAL ECONOMICA : Research of Economic And Economic Education Vol 13, No 2 (2025): Economica: Journal Of Economic And Economic Education
Publisher : Economic Education Faculty of Economics and Business Universitas PGRI Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22202/economica.2025.v13.i2.9355

Abstract

The aim of this research is to explore how profitability, leverage, and dividend policy influence stock prices. This study focuses on mining firms that are listed on the Indonesia Stock Exchange from 2019 to 2023. It utilizes quantitative data, specifically secondary data gathered through documentation methods. The analysis includes all 62 mining companies listed on the Indonesia Stock Exchange during the period of 20192023. From these, 16 companies were chosen using specific criteria (purposive sampling). The analytical method employed in this research is multiple linear regression, with hypothesis testing carried out using SPSS software. Findings from the ttest indicate that profitability positively and significantly impacts stock prices of mining companies listed on the Indonesia Stock Exchange during 20192023, while leverage negatively and significantly affects these stock prices. Moreover, dividend policy also positively and significantly influences stock prices in the mining sector for the same period. The overall contribution of profitability, leverage, and dividend policy to stock prices is determined to be 41. 6%. JEL Classification: G30; G32; G35; G12 Keywords: Profitability, Leverage , Dividend Policy, Stock Price
Co-Authors Anatia Agusti Devi Edriani Nike Apriyanti Shinta Bella