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INDONESIA
SENTRALISASI
Published by Universitas Muhammadiyah Sorong
ISSN : 19797567     EISSN : 26144328     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
entralisasi (Journal of Economic Science/Jurnal Ilmu-Ilmu Ekonomi)is scientific peer-reviewed journal published by faculty of Economic, Universitas Muhammadiyah Sorong, Indonesia. Since estabilished in 2012, Sentralisasi is intended to provide a medium for dissemination of original and quality research on various topic in look the Focus and Scope and other related fields to be published two times a year (January and June). Sentralisasi issue consist Economic, Development Economic, Bussines, Social Economic, Acounting, Islamic Economic, Management, Human Resource Management and Entrepreneurship.
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Articles 15 Documents
 1   2 
Search results for , issue "Vol. 15 No. 2 (2026): May" : 15 Documents clear
Intangible Assets, Bonus Mechanism, Debt Covenant, and Transfer Pricing: Moderating Role of Board Gender Diversity Hastuti, Dila Dwi; Solikhah, Badingatus
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5336

Abstract

This study examines the effects of intangible assets, bonus mechanisms, and debt covenants on transfer pricing and the moderating role of board gender diversity. Using panel data from 840 non-financial companies listed on the Indonesia Stock Exchange during 2020–2024 (4,200 firm-year observations), the analysis employs panel data regression. This study offers two main novelties. First, while most prior studies focus on direct determinants of transfer pricing, existing literature rarely examines board gender diversity as a moderating variable in the relationships between intangible assets, bonus mechanisms, debt covenants, and transfer pricing. Second, this study uses a comprehensive sample of all non-financial companies, providing more representative evidence of transfer pricing practices in Indonesia. The results show that intangible assets, bonus mechanisms, and debt covenants have a significant positive effect on transfer pricing. Board gender diversity weakens the influence of intangible assets and debt covenants, suggesting enhanced monitoring and governance effectiveness, but strengthens the effect of bonus mechanisms, indicating that incentive-driven performance pressures may override governance controls. The findings contribute to the transfer pricing and corporate governance literature by demonstrating the dual role of board gender diversity. Practically, the results provide insights for regulators, tax authorities, and companies in designing governance mechanisms and compensation policies to mitigate transfer pricing risks. Future research is encouraged to incorporate additional variables, apply more comprehensive measures of gender diversity, and use more detailed transfer pricing documentation. 
Analysis of Lecturer Performance Effectiveness: The Role of Personal Branding, Social Media and Digital Products with Digital Economy Moderation in Private Universities in Tangerang Sukaesih, Imas; Bastian, Asep Ferry; Mahmudin, Mahmudin; Saidiah, Saidiah; Rifa’i, Ahmad Zaenur
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5362

Abstract

This study aims to analyze lecturer performance effectiveness by examining the roles of personal branding, social media, and digital products, moderated by the digital economy. Specifically, it examines the direct effects of these variables and how the digital economy moderates their relationship with performance. A quantitative approach using a cross-sectional survey was applied. Data from 105 lecturers at private universities in Tangerang were analyzed with SEM-PLS. Findings reveal that personal branding and social media have a significant positive effect on performance. In contrast, digital products show a significant negative effect, potentially due to adaptation burdens and uneven digital literacy. The digital economy moderates these relationships selectively: it strengthens the effect of social media, weakens the effect of personal branding, and does not moderate the link between digital products and performance. These findings imply that universities should design structured digital literacy policies, strengthen academic branding programs, and establish supportive technology governance. Theoretically, this study contributes by integrating the digital economy as a selective moderator into the performance model and providing contextual evidence on digital adaptation in Indonesian higher education. 
Behavioral and Organizational Drivers of SAK EMKM Adoption In MSMEs Rizkyana, Fitrarena Widhi; Baroroh, Niswah; Welasih, Nitis
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5422

Abstract

The Execution of Financial Accounting Standards (SAK EMKM) is important for the credibility and reliability of financial statements. However, only about 1.49% of MSME actors in Pemalang are receiving guidance from the local government. It indicates the need to examine determinants influencing its implementation. The focus of the current investigation is the interaction of accounting understanding, perceived usefulness, and the socialization of SAK EMKM, with business readiness as a moderator. Primary data were collected, and 114 MSME owners/managers in Pemalang Regency were selected through purposive and snowball sampling. Partial Least Squares Structural Equation Modeling (PLS SEM) was used to analyze the data, and SmartPLS 3.0 was used to conduct model testing. The developed model explained 71% of the variance in SAK implementation. The main findings of the study were that understanding accounting, perceived usefulness, and the socialization of SAK EMKM positively contributed to its implementation. However, business readiness has not moderated the relationship between accounting knowledge, perceived usefulness, and the socialization of SAK EMKM during its implementation. The research findings indicate that behavioral and perceptual factors are more important than structural factors in explaining MSMEs' adoption of the SAK EMKM. Implementation of this standard is driven more by the level of understanding and perceived usefulness than by formal business readiness. In practice, these research findings empower regulators and the government to strengthen structured outreach and technical assistance to enhance the broader potential for implementation of the SAK EMKM. 
Work Loyalty and Employee Retention from a Human Capital Perspective in the Faculty of Arts and Design at Sebelas Maret University Dimas Yusuf Herlambang; Riani, Asri Laksmi; Rudianto, M.
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5386

Abstract

This study aims to understand how employee work loyalty is formed and interpreted as a retention strategy from a human capital perspective at the Faculty of Arts and Design, Sebelas Maret University (FSRD UNS). This study uses a qualitative approach, specifically a transcendental phenomenological method, to explore employees' direct work experiences. Data were collected through in-depth interviews, participant observation, and documentation of four educational staff members selected via purposive sampling. Data analysis was carried out through the stages of organizing data, providing initial codes, developing themes, compiling textural and structural descriptions, and synthesizing the essence of the experience. The results show that employee loyalty is shaped by several interrelated factors: professional responsibility, emotional attachment, psychological comfort, competency development, family work culture, and perceptions of organizational justice. These factors create a supportive work environment and encourage employees to remain in the organization. This study concludes that work loyalty at FSRD UNS functions as a retention mechanism that develops organically through positive work experiences and social relationships within the organization, but has not been fully integrated into a structured human capital management strategy. 
Earnings Quality, Leverage, Profitability and Corporate Cash Holdings: The Moderating Role of Institutional Investors in Indonesian Food and Beverage Firms Nugroho, Dicky Rachmad; Defung, Felisitas
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5457

Abstract

This study aims to examine the effect of earnings quality, leverage, and return on assets on corporate cash holdings, with institutional investors acting as a moderating variable in food and beverage companies listed on the Indonesia Stock Exchange during the 2020-2024 period. This research uses a quantitative approach with secondary data obtained from companies’ annual financial reports. The sample consists of 21 companies selected through purposive sampling, resulting in 105 firm-year observations. The data were analyzed using panel data regression with Moderated Regression Analysis (MRA). The results show that earnings quality and leverage have a negative and significant effect on corporate cash holdings, while return on assets has a positive but insignificant effect. Institutional investors moderate the relationship between earnings quality and leverage with corporate cash holdings by weakening their negative effects. However, institutional investors do not moderate the relationship between return on assets and corporate cash holdings. This study provides empirical evidence on the role of institutional investors in influencing corporate cash holding policies.
The Influence of Self-Control, Income, and Financial Management Behavior on the Financial Well-Being of Scholarship Recipients at UINSU Wulandari, Wulandari; Rahma, Tri Inda Fadhila; Hasibuan, Faisal Umardani
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5537

Abstract

This study aims to assess how self-discipline, earnings, and financial management strategies affect the financial wellness of scholarship recipients at UIN Sumatera Utara. A quantitative approach is utilized, applying multiple linear regression for data evaluation with the help of SPSS 27. Information is collected using an online survey administered via Google Forms, focusing on a group of 86 scholarship recipients at UIN North Sumatera. The results indicate that self-discipline positively influences financial wellness, earnings also positively contribute to financial wellness, and financial management behavior positively affects financial wellness as well. In combination, self-discipline, earnings, and financial management strategies have a significant impact on financial wellness. This research underscores the significance of individual discipline, financial resources, and sound management strategies as key elements for enhancing financial wellness. 
The Influence of Financial Attitude, Peer Influence, and Financial Technology on Financial Behavior of QRIS Users Among Students at FEBI UIN North Sumatera Lingga, M. Rafli; Nurbaiti, Nurbaiti; Silalahi, Purnama Ramadani
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5538

Abstract

This study investigates how Financial Attitude, Peer Influence, and Financial Technology impact the financial behavior of students utilizing QRIS within the Faculty of Islamic Economics and Business at UIN North Sumatera. A quantitative approach with a causal research design framework was utilized, incorporating 98 participants chosen using the Slovin formula. Multiple linear regression was applied for data analysis. Data was gathered through questionnaires structured on a Likert scale ranging from 1 to 5. The data processing was performed using SPSS version 27. The results demonstrate that each of the factors Financial Attitude, Peer Influence, and Financial Technology positively and significantly affects Financial Behavior. Furthermore, the combined effect of these three variables on Financial Behavior is significant. This finding shows that although QRIS facilitates transactions, students financial behavior is still influenced by their financial attitudes and social environment. Therefore, it is necessary to enhance financial awareness and foster positive financial attitudes, as well as encourage the responsible use of financial technology to prevent consumptive behavior in a cashless era. 
Resilience of the Financial Performance of the Islamic Banking Industry in Indonesia to the Crisis Esaputra, Ahmad Baihaqi; Majduddin, Rangga Dhia; Herlian, Erwin; Al-Afif, Rafiq Azzam; Indrasto, Haryo Bimo Budi; Nugroho, Jodi Setyo
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5468

Abstract

This study examines the financial resilience of Islamic banking in Indonesia by comparing Bank Umum Syariah (BUS) and Unit Usaha Syariah (UUS) in responding to macroeconomic shocks during January 2015 until December 2023. A composite resilience index is constructed using a z-score approach that integrates profitability and leverage indicators. The Autoregressive Distributed Lag (ARDL) model is employed to capture short-run and long-run dynamics between resilience and its determinants, including total assets, third-party funds, inflation, the Bank Indonesia policy rate, and the COVID-19 shock. The results confirm long-run cointegration for both BUS and UUS, with notable differences in adjustment patterns. BUS demonstrates stronger structural resilience supported by asset scale, whereas UUS exhibits higher sensitivity to monetary tightening. Risk mapping further reveals latent vulnerabilities within the dual banking system. These findings highlight the need for differentiated supervision and a more selective approach in evaluating the readiness of UUS transformation into full-fledged Islamic banks.
The Influence of Perceived Usefulness, Ease of Use, and Sharia Financial Literacy on QRIS Users: A Case Study of UINSU Student MSMEs Temuju, Mas Imam; Imsar, Imsar; Rahmani, Nur Ahmadi Bi
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5356

Abstract

The purpose of this study is to examine how MSME actors who are UINSU students use QRIS in relation to perceived utility, perceived ease of use, and Islamic financial knowledge. 26,512 current students from the 2022 cohort make up the research population, and 100 responders were chosen proportionately from each faculty. The approach used is quantitative with SEM-PLS to test causal relationships between variables. The study's findings indicate that while Islamic financial literacy has no discernible impact on QRIS adoption, perceived utility and simplicity of use do. Perceived usefulness is the most dominant factor because students feel the efficiency of transactions, ease of record-keeping, and increased business professionalism. Perceived ease of use also plays an important role in reducing technological barriers. On the contrary, Islamic financial literacy has not yet become a determinant of usage. The implication is that the adoption of QRIS needs to be focused on strengthening benefits and convenience as well as more practical and contextual Islamic financial learning. 
From Financial Literacy to Financial Behavior: The Mediating Role of Behavioral Intention Among Generation Z University Students Rita Kusumawati; Ningrum, Nabilah Cahya
SENTRALISASI Vol. 15 No. 2 (2026): May
Publisher : Universitas Muhammadiyah Sorong

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33506/sl.v15i2.5452

Abstract

This study aims to analyze the effect of financial literacy and financial attitudes on financial behavior, mediated by behavioral intentions, among Management students at Muhammadiyah University Yogyakarta. The subjects in this study were active students enrolled in the Management program at Muhammadiyah University Yogyakarta. In this study, the sample consisted of 340 respondents selected through purposive sampling. The analysis tool used was SmartPLS 4.1.1.4 software. Based on the analysis, it was found that financial literacy and financial attitudes had a positive and significant effect on financial behavior. Behavioral intention significantly mediated the effect of financial literacy and financial attitudes on financial behavior. 

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