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Financial Performance Evaluation as a Strategy for Developing MSMEs: A Study on Arista Straike Blater Fishing Imelda Zuliyana; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 7, No 3 (2025): Journal of Education, Humaniora and Social Sciences (JEHSS), February
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v7i3.2558

This article aims to analyze financial management and its impact on the development of MSMEs, with a case study on the Arista Straike Blater Fishing business. The main focus of this study is the challenges in manual financial recording that are inefficient and risk the accuracy of financial reports, as well as how these limitations affect strategic decision-making and the sustainability of business operations. This study uses a qualitative method with a descriptive approach. Data were collected through in-depth interviews with owners, managers, and financial staff, as well as direct observation of operational processes and interactions with customers. The analysis was carried out using a thematic approach to identify patterns in financial management and their impact on the business. The results of the study indicate that good financial management, especially in terms of cash flow control, budget planning, and financial report recording, contributes significantly to improving business operations and service quality. In addition, effective financial management supports strategic decision-making, such as investment in facilities and the introduction of new products, which contribute to increasing customer satisfaction and MSME business development. The implications of this study emphasize the importance of financial literacy for MSME owners to improve the efficiency of financial recording and reduce the risk of errors in financial reports. Key recommendations include investing in a digital recording system to improve accuracy and efficiency and financial literacy training for business actors. Further research is recommended to explore external factors that influence the effectiveness of MSME financial management, such as government regulations and access to financing.

Pengaruh Kinerja Keuangan dan Kebijakan Dividen terhadap Nilai Perusahaan pada Perusahaan Sektor Pertambangan di Bursa Efek Indonesia Jenny Sutrisna Waruwu; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 7, No 4 (2025): Journal of Education, Humaniora and Social Sciences (JEHSS), May
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v7i4.2622

This article aims to analyze the effect of Return on Assets (ROA), Return on Equity (ROE), Debt-to-Equity Ratio (DER), Earnings Per Share (EPS), and Dividend Payout Ratio (DPR) on company value as measured by Tobin's Q. The problem focuses on how these financial factors affect company valuation. In order to approach this problem, theoretical references from financial management and company value theory are used. Data were collected through company financial reports and analyzed quantitatively using multiple linear regression with normality, multicollinearity, and ANOVA tests.This study concludes that ROE and EPS have a positive and significant effect on Tobin's Q, indicating that equity profitability and earnings per share can increase company value. Conversely, DER and DPR have a negative and significant effect on Tobin's Q, indicating that high debt levels and large dividend payments can reduce company valuation. Meanwhile, ROA does not have a significant effect on Tobin's Q. This result implies that companies need to focus on increasing equity profitability and earnings per share, maintaining a balanced capital structure, and designing an optimal dividend policy to increase the company's value in the eyes of investors.

Improving teacher performance through motivation: the role of academic supervision and principal leadership Hendrajaya Hendrajaya; Dewi Setiyowati; Andhi Supriyadi
JPPI (Jurnal Penelitian Pendidikan Indonesia) Vol. 11 No. 2 (2025): JPPI (Jurnal Penelitian Pendidikan Indonesia)
Publisher : Indonesian Institute for Counseling, Education and Theraphy (IICET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29210/020254598

This research is located in junior high schools Kendal Regency, with purpose of the research being to analyze and understanding the influence of Academic Supervision and Principal Leadership on Work Motivation, Academic Supervision, Principal leadership and work motivation on teacher performance, (Academic Supervision on teacher performance mediated by work motivation, and Principal leadership towards performance mediated work motivation. This study used a sample of 118 people who were state civil service teachers at SMPN in Kendal Regency Data collection methods using questionnaires and interviews, from the results of questionnaire answers in feasibility tests using validity tests and reliability tests, as well as analyzing data using regression analysis, model tests and hypothesis test. Results of this research concluded that: Academic Supervision and Principal Leadership affects Work Motivation, Academic Supervision, Principal Leadership and Work Motivation affects teacher performance, Academic Supervision influences teacher performance mediated by work motivation, and the influence of Principal Leadership on teacher performance Mediated Work Motivation.

Comparison of Visitor Preferences and Satisfaction Between Old and New Markets in Semarang City Enik Rahayu; Hendrajaya Hendrajaya; C. Susmono Widagdo
LITERACY : International Scientific Journals of Social, Education, Humanities Vol. 4 No. 3 (2025): December : International Scientific Journals of Social, Education, Humanities
Publisher : Badan Penerbit STIEPARI Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56910/literacy.v4i3.2928

This study examines visitor satisfaction and market preferences in traditional and modern markets in Semarang City, Indonesia, focusing on five key variables: product price, product quality, service quality, market facilities, and market atmosphere. The research addresses the declining competitiveness of traditional markets amid urban modernization and the rise of modern and digital retail systems. The goal is to identify dominant factors influencing consumer preferences and satisfaction in hybrid market competition. A quantitative method was used, involving a structured questionnaire distributed to market visitors. Data were analyzed using multiple linear regression to determine the impact of each variable on consumer satisfaction and market preferences. The results indicate that service quality is the most influential factor, followed by product quality and market facilities. While product price and market atmosphere also play roles, their effects are less significant. These findings suggest that consumer behavior is shaped not only by economic considerations, but also by the overall shopping experience and service interactions. The model used in this study has a high explanatory value (R² = 0.914), reflecting the strength of the predictive framework. This confirms that enhancing service and improving physical infrastructure are key to increasing the appeal of traditional markets. This research contributes to discussions on retail transformation and offers insights for local governments, market administrators, and vendors. It emphasizes the need to balance modernization efforts with improvements in traditional retail spaces. However, the study is limited to a specific region and does not explore digital market influences. Future research should broaden the geographic scope, incorporate online shopping behavior, and use longitudinal approaches to better inform policy and strategic development.

Peran Program Pelatihan dalam Pengembangan Keterampilan Karyawan: Studi Kasus pada PT Libra Permana Umi Lestari Duha; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 8, No 4 (2026): Journal of Education, Humaniora and Social Sciences (JEHSS), Mei 2026
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v8i4.3057

This article aims to describe the planning and implementation of training programs, analyze their role in employee skill development, and identify supporting and inhibiting factors affecting training effectiveness at PT Libra Permana, Semarang Regency. The problem focuses on the extent to which training programs enhance work competencies and support organizational performance. The study applies human resource development and competency-based training theories as its theoretical framework. Data were collected through in-depth interviews, observation, and documentation, and analyzed qualitatively. The findings indicate that training is conducted through internal and external methods with an emphasis on direct practice relevant to job tasks, contributing to improvements in technical skills, procedural understanding, and teamwork communication. However, training effectiveness is influenced by managerial support, workload, and the absence of structured evaluation mechanisms. This study concludes that training plays a positive role in developing employee competencies but requires more systematic planning and evaluation to ensure sustainable organizational impact.

Analisis Pengembangan Sumber Daya Manusia dalam Meningkatkan Kinerja Karyawan (Studi Kasus di KSPPS BMT As Salam Cabang Sarimulyo) Siska Norsafera; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 8, No 4 (2026): Journal of Education, Humaniora and Social Sciences (JEHSS), Mei 2026
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v8i4.3054

This article aims to analyse the implementation of human resource development and its impact on employee performance at KSPPS BMT As Salam Sarimulyo Branch. The study focuses on the execution of training, education, and development programs, the assessment of employee performance across the dimensions of work quality, work quantity, discipline, teamwork, and responsibility, as well as the role of human resource development in enhancing individual and organisational performance. To address these issues, the study applies human resource development theory and employee performance theory. Data were collected through in-depth interviews, direct observation, and organisational documentation, and analysed qualitatively using the Miles and Huberman interactive analysis model. The findings indicate that human resource development programs have been implemented in a structured and continuous manner, improving technical competencies, understanding of Sharia principles, professionalism, discipline, teamwork, and employee responsibility. The study also reveals that the contextual integration of training, education, and development within a Sharia microfinance institution forms a pattern of performance improvement that is not only technical in nature but also grounded in values and work ethics. Challenges such as limited training time and variations in employee participation can be minimised through adaptive adjustments in scheduling, content, and career development strategies. Therefore, this study emphasises that human resource development not only contributes to improving employee performance but also strengthens the conceptual framework linking human resource development and performance within the context of Sharia microfinance institutions, thereby offering both theoretical and practical contributions to value-based human resource management.

Manajemen Keuangan dan Pengambilan Keputusan pada Usaha Grosir: Studi Kasus Pasar Tradisional Sehati Halawa; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 8, No 4 (2026): Journal of Education, Humaniora and Social Sciences (JEHSS), Mei 2026
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v8i4.3059

This article aims to analyse financial management practices and their role in business decision-making in wholesale businesses at Pasar Lanang Ambarawa. The problem focuses on the implementation of financial planning, transaction recording, cash flow management, inventory control, and credit management in supporting business decisions. To approach this issue, the study employs theories of small business financial management and decision-making. Data were collected through in-depth interviews with five informants, observation, and documentation, and analysed qualitatively. The findings indicate that financial management practices are applied in a simple and experience-based manner, with a primary focus on cash flow management and inventory turnover. Financial information is used to determine stock purchases, pricing strategies, and credit policies, although it is not supported by formal financial reports. This study concludes that financial management practices play an important role in sustaining business operations, contributing to a contextual understanding of how simple financial practices support decision-making in traditional markets.

Analisis Kinerja Keuangan Koperasi Mikro di Kabupaten Semarang: Objek Studi Koperasi Faomasi Baluse Mandiri Risman Ndruru; Hendrajaya Hendrajaya
Journal of Education, Humaniora and Social Sciences (JEHSS) Vol 8, No 4 (2026): Journal of Education, Humaniora and Social Sciences (JEHSS), Mei 2026
Publisher : Mahesa Research Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34007/jehss.v8i4.3056

This article aims to analyse the financial performance and assess the financial health of Koperasi Faomasi Baluse Mandiri in supporting business sustainability. The problem focuses on the condition of liquidity, solvency, and profitability ratios and their implications for operational stability and business development. To approach this issue, the study applies financial ratio analysis theory and cooperative health principles. Data were collected through financial report documentation, interviews with management and supervisors, and observation, and were analysed qualitatively with the support of financial ratio calculations. The findings indicate that the cooperative demonstrates good liquidity, a manageable capital structure despite relatively high dependence on members’ funds, and the ability to generate stable net surplus. Governance practices and internal supervision mechanisms further strengthen its financial condition. This study concludes that sound financial performance and adequate governance are essential factors in maintaining the sustainability of Koperasi Faomasi Baluse Mandiri, although strengthening internal capital and improving administrative systems remain necessary for long-term resilience.

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