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All Journal Kurs : Jurnal Akuntansi, Kewirausahaan dan Bisnis Journal of Islamic Monetary Economics and Finance International Journal of Economics Development Research (IJEDR) Journal of Applied Business and Technology Journal of Central Banking Law and Institutions Reflection: Education and Pedagogical Insights PROCEEDING OF INTERNATIONAL CONFERENCE ON BUSINESS MANAGEMENT AND ACCOUNTING Luxury: Landscape of Business Administration Interconnection: An Economic Perspective Horizon Nexus Synergy: A Business Perspective Research in Accounting Journal
Musa, Sulaiman
Unknown Affiliation
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Credit Risk Prediction Model Using Artificial Intelligence in Digital Financial Systems Junaedi, Achmad Tavip; Renaldo, Nicholas; Suhardjo, Suhardjo; Musa, Sulaiman; Veronica, Kristy
International Conference on Business Management and Accounting Vol 3 No 1 (2024): Proceeding of International Conference on Business Management and Accounting (Nov
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/icobima.v3i1.5092

Abstract

This study adopts a qualitative approach to examine how AI-based credit risk models are conceptualized and applied in digital finance, with a focus on emerging economies. The novelty of this study lies in: Exploring the human dimensions of AI adoption, including trust and interpretation by credit practitioners; Highlighting ethical and governance issues such as bias, fairness, and data privacy; Identifying hybrid models that combine AI with human oversight in risk decisions; and Offering policy insights for the responsible integration of AI in digital credit systems. This study uses a qualitative exploratory approach to investigate how Artificial Intelligence (AI) is conceptualized, implemented, and perceived in the context of credit risk prediction in digital financial systems. Through a qualitative, multi-case approach involving interviews and document analysis, it finds that AI offers substantial potential to improve credit risk models, particularly through the use of alternative behavioral data. These findings highlight the need for a balanced credit assessment framework where AI supports, but does not completely replace, human expertise.
Designing Startup Application “LaKu” for MSME in Riau Based on Android Marlim, Yulvia Nora; William, William; Susanti, Wilda; Fadrul, Fadrul; Nicholas Renaldo; Musa, Sulaiman; Wahid, Nabila
Journal of Applied Business and Technology Vol. 6 No. 2 (2025): Journal of Applied Business and Technology
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/jabt.v6i2.228

Abstract

Department of Industry, Trade, Cooperatives and SMEs (DITCS) of Riau has an important role in supporting 631,347 groups of Micro, Small and Medium Enterprises (MSMEs) engaged in various fields such as handicrafts, batik, songket, and food and beverages. Many MSME merchants still market their products traditionally through the neighborhood and word of mouth, while online marketing faces a big challenge because they have to compete with well-known brands, making them difficult to develop and grow their business. To overcome these problems, an Android-based application “LaKu” was developed that aims to help MSME merchants in expanding their marketing reach and increasing their competitiveness in Riau. The development of this application uses the Extreme Programming (XP) method which consists of four main steps: Planning, Design, Code, and Testing. The development results show that the “LaKu” application can be an effective digital marketing platform, helping MSMEs in promoting products more widely without having to compete directly with big brands. With this application, MSMEs are able to increase competitiveness and contribute to local economic growth in Riau Province.
THE IMPACT OF FINANCIAL DEVELOPMENT AND THE INFORMAL ECONOMY ON SUSTAINABLE DEVELOPMENT IN ASEAN Muhammed, Ismail; Musa, Sulaiman
Journal of Central Banking Law and Institutions Vol. 4 No. 2 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v4i2.285

Abstract

This study examines the interplay among the ASEAN region’s financial development, informal economy, and sustainable development. While financial development is expected to support economic growth, its relationship to sustainability remains ambiguous, particularly in economies with significant informal sectors. Using a panel dataset from 1991 to 2020 across 10 ASEAN countries, the study employs robust econometric techniques, including fixed effects, feasible general least squares methodology, and quantile regression, to assess the direct and indirect effects of financial development and informality on sustainability. Findings reveal that the informal economy positively contributes to sustainable development, likely by providing employment and economic opportunities. However, financial development, measured by a broad money supply and private sector credit, has a negative impact, suggesting that financial resources are not effectively allocated to sustainability-driven sectors. The interaction between financial development and informality further exacerbates sustainability challenges, indicating a misalignment between formal financial mechanisms and informal economic activities. These results highlight the need for policy strategies integrating informal sector dynamics into financial systems, ensuring financial growth translates into broader sustainable development outcomes. Strengthening financial inclusion and directing capital to sustainability-focused initiatives could help bridge the gap between formal finance and the informal economy in ASEAN nations.
Brand Image as an Economic Asset: Mediating the Effects of Online Customer Reviews, Customer Experience, and Product Quality on Repurchase Intentions of Karung Jantan Clothing Brand Mahendra, I Wayan Yoga Praditya; Mahyuni, Luh Putu; Deli, Mazzlida Mat; Musa, Sulaiman
International Journal of Economics Development Research (IJEDR) Vol. 6 No. 5 (2025): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v6i5.8251

Abstract

This study investigates brand image as an economic asset by analyzing its mediating role in the relationship between online customer reviews, customer experience, and product quality on consumers’ repurchase intentions for the Karung Jantan clothing brand. Recognizing that a strong brand image can enhance customer loyalty, reduce marketing costs, and increase long-term revenue, this research adopts a quantitative approach and analyzes data using the Partial Least Squares (PLS) method with SmartPLS 4.0. The results reveal that brand image does not significantly mediate the effects of online customer reviews and customer experience on repurchase intention. However, brand image significantly mediates the relationship between product quality and repurchase intention, reinforcing its role as an intangible economic asset. Moreover, online customer reviews, customer experience, and product quality all have a positive and significant direct influence on both brand image and repurchase intention. These findings underscore the economic value of investing in brand image and product quality to drive repeat purchases and ensure sustainable business growth.
SHARIA SUPERVISORY BOARD, BOARD ATTRIBUTES AND REAL EARNINGS MANAGEMENT IN ISLAMIC BANKS Musa, Sulaiman; Haji Masri, Masairol; binti Hamdan, Mahani
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2354

Abstract

This study examines how the Sharia Supervisory Board (SSB) moderates the effects of Board of Directors (BOD) characteristics on real earnings management (REM) of Islamic banks. Using unbalanced data encompassing 45 Islamic banks across 15 countries from 2012 to 2023, it documents a negatively significant influence of board size, independence, and expertise on REM. The influence of board's diligence, however, is absent. The study further notes that the SSB index moderates the effect of BOD attributes on REM in Islamic banks. The findings hold important implications for policymakers and regulators in shaping regulations on SSB and BOD oversight functions to curb REM practices. The study also contributes to the literature by offering further empirical evidence on the relationship between corporate governance and REM in Islamic banks.
Digital Transformation Strategy to Enhance Consumer Trust in Apple Cider Vinegar Products through Quality, Legality, and Digital Education Renaldo, Nicholas; Junaedi, Achmad Tavip; Suhardjo, Suhardjo; Panjaitan, Harry Patuan; Purnama, Intan; Jahrizal, Jahrizal; Yovita, Indri; Veronica, Kristy; Musa, Sulaiman; Wahid, Nabila
Interconnection: An Economic Perspective Horizon Vol. 2 No. 2 (2024): Interconnection: An Economic Perspective Horizon
Publisher : First Ciera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61230/interconnection.v2i2.121

Abstract

The increasing popularity of Apple Cider Vinegar (ACV) as a health supplement has created opportunities for Micro, Small, and Medium Enterprises (MSMEs) in the health product market. However, issues such as exaggerated health claims, inconsistent product quality, lack of regulatory certifications, and insufficient consumer education have contributed to declining trust among digital consumers. This study explores how digital transformation can enhance consumer trust in ACV products through a qualitative approach involving in-depth interviews with ACV producers and digital content analysis. The findings reveal that many producers lack standardization in quality control, face challenges in obtaining legal certification (BPOM, halal), and underutilize digital platforms for health education. As a solution, the study proposes a strategic framework based on a digitally adapted Business Model Canvas, which integrates transparent product labeling, educational digital content, and trust signals such as verified reviews and interactive consumer engagement. This digital strategy not only strengthens brand credibility but also addresses health risks associated with improper ACV use, promoting safer and more informed consumption. The research contributes to the literature on digital business strategies for functional health products and provides a practical roadmap for MSMEs to build consumer trust through quality, legality, and education.
Capital Structure, Profitability, and Block Holder Ownership on Dividend Policy using Free Cash Flow as Moderation Variable Renaldo, Nicholas; Sally; Musa, Sulaiman; Wahid, Nabila; Cecilia
Journal of Applied Business and Technology Vol. 4 No. 2 (2023): Journal of Applied Business and Technology
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/jabt.v4i2.132

Abstract

The aim of this study is to investigate the influence of sales growth, company size, profitability, and non-debt tax shield on the capital structure of food and beverage companies in the consumer sector listed on the Indonesia Stock Exchange between 2017 and 2020. The research utilizes secondary data and employs purposive sampling to select a sample of 38 companies. Data analysis involves quantitative descriptive analysis and the use of SmartPLS software for various calculations. The findings indicate that block holder ownership does not significantly affect dividend policy, capital structure does not significantly impact dividend policy, profitability has a positive influence on dividend policy, and free cash flow does not significantly affect dividend policy. It is hoped that future researchers can add knowledge and insight in the field of financial and financing ratios and examine more deeply related to financial performance in the development of primary consumer goods sector companies on the IDX.
Current Ratio, Firm Size, and Return on Equity on Price Earnings Ratio with Dividend Payout Ratio as a Moderation and Firm Characteristic as Control Variable on the MNC 36 Index Period 2017-2021 Renaldo, Nicholas; Rozalia, Dwi Kirtapati; Musa, Sulaiman; Wahid, Nabila; Cecilia
Journal of Applied Business and Technology Vol. 4 No. 3 (2023): Journal of Applied Business and Technology
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/jabt.v4i3.136

Abstract

This study aims to determine the effect of the Current Ratio, Company Size, Return on Equity, and Dividend Payout Ratio on the Price Earnings Ratio on the MNC36 index for the 2017-2021 period. The population and samples used in this study were to use the purposive sampling method which was selected based on specific criteria in accordance with the purpose of the study. Thus, the number of samples in this study was 77 companies. This study used secondary data. The analysis method in this study is multiple linear regression analysis using SPSS 22.0 and Smart PLS 4.0 software. The results of the research obtained are that DPR has a positive and significant effect on the Price Earnings Ratio. In contrast, the Current Ratio, Company Size, and Return on Equity do not have a significant effect on the Price Earnings Ratio.
Mapping the Financial Technology Industry in Indonesia Renaldo, Nicholas; Junaedi, Achmad Tavip; Musa, Sulaiman; Wahid, Nabila; Cecilia, Cecilia
Journal of Applied Business and Technology Vol. 5 No. 1 (2024): Journal of Applied Business and Technology
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/jabt.v5i1.162

Abstract

This study aims to deepen the fintech landscape in Indonesia with focus on types of fintech, companies popular, and the role of fintech market aggregators. With internet penetration reached 67%, Indonesia became lush backdrop for fintech innovation, supported by regulation and proactive government to support the growth sector This. Methodology study combine study literature, studies cases, interviews with holder interests, research field, analysis statistics, SWOT analysis, surveys users, and analysis continuity. The literature review provides a base for understanding global fintech trends, interim studies case detail development leading fintech companies like My Capital, Friends Money, and Kredivo. Research result covers identification four main types of fintech in Indonesia: P2P Lending and Crowdfunding, Management Risk Investment, Payment-Clearing-Settlement, and Market Aggregator. Fintech market aggregators such as Cekaja.com, Cermati.com, and DuitPintar.com play role important in give information and comparison product finance to consumer. With results study This is expected can give understanding deep about the evolution of fintech in Indonesia, as well give base for policy public, developers business, and internal investors optimizing growth and inclusion finance in the digital era.
Smart Processing Machines and Business Efficiency in Goat Milk Agro-Enterprises Junaedi, Achmad Tavip; Panjaitan, Harry Patuan; Renaldo, Nicholas; Nyoto, Nyoto; Jahrizal, Jahrizal; Dalil, M; Koto, Jaswar; Musa, Sulaiman; Wahid, Nabila; Veronica, Kristy; Faruq, Umar
Luxury: Landscape of Business Administration Vol. 3 No. 2 (2025): Luxury: Landscape of Business Administration
Publisher : First Ciera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61230/luxury.v3i2.137

Abstract

The increasing demand for functional and health-oriented dairy products has positioned goat milk agro-enterprises as a promising business sector, particularly in emerging economies. Despite this potential, many goat milk businesses face persistent challenges related to production inefficiency, high operational costs, and limited scalability. This study aims to examine the impact of smart processing machines on business efficiency in goat milk agro-enterprises. Using a quantitative approach, data were collected from small and medium-sized goat milk processing enterprises and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results reveal that smart processing machine adoption has a positive and significant effect on business efficiency, including cost efficiency, productivity, and operational effectiveness. The findings indicate that smart processing machines function not merely as technological tools but as strategic business resources that enhance operational performance and competitiveness. This study contributes to the business and agribusiness literature by providing empirical evidence at the production-machine level and highlighting the strategic value of smart manufacturing technologies in small-scale agro-enterprises. The findings offer practical insights for business owners, policymakers, and technology developers in promoting sustainable and efficient goat milk processing businesses.
Co-Authors Achmad Tavip Junaedi Aminuyati Amries Rusli Tanjung Andi Amang Andi Andi Arie Yusnelly Augustine, Yvonne binti Hamdan, Mahani Cecilia Cecilia, Cecilia Chandra, Stefani Dalil, M Dalil, M. David David Deli, Mazzlida Mat Dodi Sofyan Arief, Dodi Sofyan Eddy, Pujiono Fadrul, Fadrul Fransisca, Luciana Gusrio Tendra Hadi, Syukri Haji Masri, Masairol Harry Patuan Panjaitan Hutahuruk, Marice Br Indrastuti, Sri Indri Yovita Jahrizal Koto, Jaswar Mahendra, I Wayan Yoga Praditya Mahyuni, Luh Putu Marlim, Yulvia Nora Muhammed, Ismail Mukhsin Mukhsin Mulyadi Mulyadi Nicholas Renaldo Nyoto Nyoto, Nyoto Permata Sari, Dewi Prayetno, Muhammad Pringgo Prihastomo, Arih Dwi Purnama, Intan Putri, Novita Yulia Rahman, Sarli Rizaldi Putra Rozalia, Dwi Kirtapati Sally Suhardjo Suharti Suryadi, Nanda Suyono Suyono Teddy Chandra Umar Faruq Veronica, Kristy Wahid, Nabila Wati, Yenny Wijaya, Evelyn Wijaya, Fuma Wilda Susanti William William