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All Journal Jurnal Ilmiah METADATA ProBisnis : Jurnal Manajemen Economics and Business Journal SAMBARA: Jurnal Pengabdian Kepada Masyarakat Jurnal Ekonomi, Manajemen, Akuntansi
Serniati Zebua
Universitas Nias, Indonesia
Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Economics, Econometrics & Finance Education Immunology & microbiology Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences

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The Effect of Working Capital Management on The Growth of Savings and Loan Business in The Osseda Faolala Women's Consumer Cooperative Nias Foster Herwin Gulo; Dedi Irawan Zebua; Serniati Zebua; Aferiaman Telaumbanua
Economics and Business Journal (ECBIS) Vol. 4 No. 1 (2025): November
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i1.272

Abstract

This study analyzes the financial condition of the Osseda Faolala Perempuan Nias Consumer Cooperative during the period January 2021–December 2024, focusing on the management of current assets, short-term liabilities, and the repayment rate of member loans. Data were processed using descriptive statistics and simple linear regression to assess the cooperative's financial balance and factors influencing business growth. The classical assumption test showed that the regression model met the feasibility criteria, both in terms of normality and autocorrelation, thus the analysis results were reliable. The t-test results proved that working capital had a positive and significant effect on cooperative business growth with a significance value <0.05. The coefficient of determination (R² = 0.887) confirmed that 88.7% of the variation in business growth was explained by working capital management. This means that the more optimal the management of working capital—including current assets, short-term liabilities, and member loans—the higher the cooperative's chances of growth and development. In addition to strengthening the existing literature, this study is consistent with the findings of Winata et al. (2023) on manufacturing companies and Herawati (2023) on savings and loan cooperatives, both demonstrated the importance of working capital management to financial performance. However, these results differ from the research of Rezki Erdian et al. (2022) on the retail sector, which found that receivables had no significant effect on profitability. This difference indicates that the relevance of working capital is highly dependent on the institutional context. Overall, this study confirms that optimal working capital management is not merely an administrative issue, but a strategic factor determining cooperative business growth and improving welfare. member.
The Influence of Free Shipping and Online Customer Reviews on the Shopee Platform on Purchasing Decisions of Students of the Faculty of Economics, Nias University Reyan Janefata Zebua; Aferiaman Telaumbanua; Sophia Molinda Kakisina; Serniati Zebua
Economics and Business Journal (ECBIS) Vol. 4 No. 2 (2026): January
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i2.279

Abstract

This study investigates the role of acquisition premiums in mergers and acquisitions (M&A) and their impact on shareholder wealth, focusing on five major Indian deals in pharmaceuticals, retail, banking, steel, and renewable energy sectors. Potential synergies often justify acquisition premiums ranging from approximately 15% to 40% above target companies’ market values. However, market responses suggest that such premiums may not consistently result in value creation for acquiring firms' shareholders. Empirical findings reveal mixed outcomes: Sun Pharma’s acquisition of Ranbaxy led to a 9.8% share price increase within five days, while Tata Steel’s high-premium acquisition of Bhushan Steel saw only a 1.7% gain. In contrast, deals like Reliance–Future Retail and Tata Power–Welspun Power showed minimal or negative returns, despite sizable premiums. These patterns indicate that premium size alone is not a reliable predictor of post-deal shareholder wealth creation. The study concludes that M&A success depends more on strategic fit, market timing, and sectoral dynamics than on the premium offered. This analysis contributes to the broader M&A discourse by offering evidence-based insights into how premium valuations can either maximise or dilute shareholder value, aiding investors, corporate strategists, and policy analysts in deal assessment.
Implementation of Production Cost Using the Full Costing Method at CV Tani Nias Makmur Gloria Zefita Kristiani Zebua; Serniati Zebua; Eliagus Telaumbanua; Sophia Molinda Kakisina
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): December: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study aims to analyze the implementation of the cost of production (HPP) calculation at a local manufacturing enterprise to determine whether the company has applied accurate and appropriate costing methods. The research focuses on identifying the components of raw material costs, labor costs, and factory overhead costs, as well as evaluating the suitability of the company’s costing approach with generally accepted accounting principles. Using a descriptive qualitative method, data were collected from interviews, documentation, and direct observation. The results show that the company has not fully implemented a comprehensive cost of production calculation, particularly in allocating factory overhead costs, which leads to inaccurate product pricing and profit assessment. The study concludes that proper cost of production implementation is essential for determining competitive pricing, evaluating business performance, and supporting managerial decision-making. It is recommended that the company adopt a more structured costing system to enhance accuracy and financial effectiveness.
Implementation of Internal Control in Recording Inventory at CV Madona Ponsel Endang Wijayanti Mendrofa; Serniati Zebua; Maria Magdalena Bate'e; Kurniawan Sarototonafo Zai
ProBisnis : Jurnal Manajemen Vol. 16 No. 06 (2025): December: Management Science
Publisher : Lembaga Riset, Publikasi dan Konsultasi JONHARIONO

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Abstract

This study aims to analyze the implementation of internal control in the inventory recording system at CV Madona Ponsel. The research was conducted to identify the effectiveness of the company's internal control procedures, especially in the use of stock cards, hybrid recording methods, and verification processes for incoming and outgoing inventory. A qualitative descriptive method was applied, with data collected through interviews, observations, and documentation. The results revealed that the company has implemented internal control elements such as authorization, separation of duties, supervision, and stock reconciliation. However, weaknesses were found in documentation consistency, the absence of computerized integration, and reliance on manual stock cards, which often leads to delays, errors, and discrepancies between physical stock and recorded stock. The study concludes that although the internal control system is generally effective, it requires improvement in record accuracy, supervision mechanisms, and technological adoption to prevent errors and fraud. Strengthening internal control is essential to maintain inventory accuracy, support operational efficiency, and ensure reliable financial reporting.
Co-Authors Aferiaman Telaumbanua Alfis Orienterry Hia Anugerah Zega Dedi Irawan Zebua Desman Mendrofa Eliagus Telaumbanua Endang Wijayanti Mendrofa Fakta Solala Zebua Foster Herwin Gulo Gloria Zefita Kristiani Zebua Heniwati Gulo Intan Monica Gulo Intan Permata Hati Hulu Intensi El Roy Zendrato Jeliswan Berkat Iman Jaya Gea Kurniawan Sarototonafo Zai Maria Magdalena Bate'e Maria Magdalena Bate’e Maria Mei Jelita Zai Martha Surya Dinata Mendrofa Masnia Zebua Musartika Tafonao Nanny Artatina Buulolo Nanny Artatina Bu’ulolo Nestar Nosama Zega Nov Elhan Gea Noviza Asni Waruwu Reyan Janefata Zebua Rifdani Larosa Sanday Kurnia Sang Putra Mei Zalukhu Solfin Desmeni Mendrofa Sophia Molinda Kakisina Tiarni Duha Tri Hartati Sukartini Hulu Wildan Syariah Farasi Yamolala Zega Yupiter Mendrofa Yuterlin Zalukhu