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Mochammad Tanzil Multazam
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INDONESIA
Indonesian Journal of Law and Economics Review
Published by Universitas Muhammadiyah Sidoarjo
ISSN : -     EISSN : 25989928     DOI : https://doi.org/10.21070/ijler
Core Subject : Economy, Social,
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice
Indonesian Journal of Law and Economics Review (IJLER) is published by Universitas Muhammadiyah Sidoarjo four times a year. This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.This journal aims is to provide a place for academics and practitioners to publish original research and review articles. The articles basically contains any topics concerning Law and Economics. IJLER is available in online version. Language used in this journal is Indonesia or English.
Arjuna Subject : Ilmu Sosial - Hukum
Articles 865 Documents
 83   84   85   86   87 
Intellectual Capital Risk Management and Competitive Advantage Sustain Banking Financial Performance: Modal Intelektual Manajemen Risiko dan Keunggulan Kompetitif Menopang Kinerja Keuangan Perbankan Inna Susanti; Sigit Hermawan
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1714

Abstract

General Background: Dynamic global markets require efficient resource management to sustain corporate financial performance. Specific Background: Banks rely heavily on intangible intellectual capital, integrated risk management, and competitive advantage to maintain profitability. Knowledge Gap: Prior studies rarely combined intellectual capital and risk management with competitive advantage as a moderator, yielding inconsistent results. Aims: This study analyzes the relationships of intellectual capital and risk management with financial performance, moderated by competitive advantage, in Indonesian and Malaysian banks. Results: Analyzing 65 observations from 13 banks listed on the IDX and KLSE (2020–2024) using Moderated Regression Analysis (MRA) in SPSS 26, intellectual capital and risk management positively and significantly relate to Return on Equity (ROE), while competitive advantage significantly moderates both relationships, explaining 67.4% of ROE variance. Novelty: This study integrates risk management across conventional and Islamic banks in two countries. Implications: Findings enrich Resource-Based View (RBV) literature and guide banking strategy. Highlights: Intangible asset utilization across human competencies, organizational systems, plus external relations positively increases return on equity. Integrated uncertainty mitigation covering credit, market, liquidity, operational, plus compliance disclosures directly supports shareholder profitability. Superior market positioning alongside cost efficiency significantly moderates how internal resources generate corporate earnings across Indonesian plus Malaysian institutions. Keywords: Intellectual Capital, Risk Management, Financial Performance, Competitive Advantage, Banking Companies
Job Order Costing Uncovers Gamelan Craft Cost of Goods Manufactured: Job Order Costing Mengungkap Harga Pokok Produksi Kerajinan Gamelan Rosi Assariyu Saqoty; Nihlatul Qudus Sukma Nirwana
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1715

Abstract

General Background: Micro, Small, and Medium Enterprises (MSMEs) drive the Indonesian economy, including traditional gamelan crafts. Specific Background: Jatirejo Gamelan MSME in Nganjuk sets made-to-order prices using market benchmarks without calculating the Cost of Goods Manufactured (COGM). Knowledge Gap: Unlike previously studied businesses with sales records, this MSME lacks cost records, deletes digital order histories, and mixes production and household electricity. Aims: This qualitative case study determines the COGM using Job Order Costing and evaluates profit margins. Results: For one Jaranan gamelan set, COGM is IDR 5,511,638 (IDR 4,196,000 raw materials, IDR 1,270,000 direct labor, and IDR 45,638 overhead). Against the IDR 13,800,000 market price, the unplanned profit margin is IDR 8,288,362 (60.06%), avoiding current under-costing but remaining vulnerable without cost control. Novelty: This study reconstructs order costs and hidden overhead for an unrecorded craft MSME. Implications: Adopting job order cost cards establishes sustainable pricing. Highlights: Calculating raw materials, direct labor wages, proportional electricity, and machine depreciation yields a total production expenditure reaching IDR 5,511,638 per musical instrument set. Comparing the IDR 13,800,000 market-driven selling price against actual production expenses reveals an unplanned gross profit margin reaching IDR 8,288,362 or 60.06%. Operating without permanent transaction archives or separated household utility bills leaves the micro enterprise vulnerable to future pricing errors during material price fluctuations. Keywords: Cost Accounting, Cost Of Goods Manufactured, Job Order Costing, Profit Margin, Gamelan MSME
Worker Negative Virality Lacks Lawful Cause for Employment Termination in Indonesia: Viral Negatif Pekerja Tidak Memenuhi Sebab Halal Pemutusan Hubungan Kerja Farida Dwi Kurnia Ermayanti; Noor Fatimah Mediawati
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1716

Abstract

General Background: Social media growth has increased worker negative virality, which employers often use for termination of employment. Specific Background: Indonesian labor law does not explicitly regulate negative virality as a ground for dismissal, creating legal uncertainty when terminations rely solely on public pressure. Knowledge Gap: Prior studies focused on sociological or ethical aspects rather than normative legal analyses connecting Government Regulation Number 35 of 2021 and Article 1320 of the Indonesian Civil Code. Aims: This normative legal study analyzes the legality of termination of employment due to worker negative virality under Indonesian labor and civil contract law. Results: Examining Law Number 13 of 2003, Government Regulation Number 35 of 2021, Law Number 2 of 2004, and Article 1320 of the Civil Code reveals that negative virality is not automatically an urgent violation without proven misconduct and causal corporate loss. Furthermore, dismissal based solely on public opinion without proven legal or contractual violations fails the lawful cause requirement under Article 1320, rendering it potentially unlawful. Novelty: This research evaluates negative virality as a social fact tested against the lawful cause requirement in civil contract law. Implications: Employers must base dismissals on objective legal proof, while affected workers retain normative rights and dispute resolution access through the Industrial Relations Court. Highlights: Social media public pressure does not automatically qualify as an urgent violation under Government Regulation Number 35 of 2021 without proven misconduct. Dismissing employees solely over online public opinion violates the valid agreement conditions in Article 1320 of the Civil Code. Unfairly dismissed employees retain normative rights alongside access to bipartite negotiations, mediation, and Industrial Relations Court litigation under Law Number 2 of 2004. Keywords: Employment Termination, Negative Virality, Indonesian Labor Law, Lawful Cause, Civil Code Article 1320
Product Quality Consumer Trust and Online Reviews Predict Shopee Purchase Decisions: Kualitas Produk Kepercayaan Konsumen dan Ulasan Daring Memprediksi Keputusan Pembelian Shopee Berliana Rindy Puspita Sari; Satrio Sudarso
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1717

Abstract

General Background: Digital technology has shifted consumption toward e-commerce, particularly in the cosmetics industry. Specific Background: Although Wardah holds over a 10% market share on Shopee Indonesia, intense marketplace competition exposes buyers to numerous brand alternatives and peer evaluations. Knowledge Gap: Prior studies on product quality, consumer trust, and online reviews showed inconsistent results, with limited research focusing on Wardah consumers on Shopee in Sidoarjo. Aims: This study analyzes the relationships of product quality, consumer trust, and consumer reviews with purchase decisions for Wardah products on Shopee. Results: Using purposive sampling of 100 respondents aged 17–45 in Sidoarjo and PLS-SEM via SmartPLS 3.0, findings show that product quality ($t = 4.248, p = 0.000$), consumer trust ($t = 4.441, p = 0.000$), and consumer reviews ($t = 5.226, p = 0.000$) positively and significantly relate to purchase decisions, explaining 60.5% of the variance. Novelty: This research confirms consumer reviews as the most dominant predictor over consumer trust and product quality among Sidoarjo marketplace shoppers. Implications: Wardah should maintain product standards, provide transparent descriptions, and encourage informative customer reviews. Highlights: Durability, specification conformity, reliability, plus functional performance positively relate to buyer selection of Wardah cosmetics. Transaction security, seller commitment, honesty, plus transparent descriptions reduce perceived risk for marketplace shoppers. Argument clarity, positive tone, usefulness, plus credible feedback sources represent the most dominant variable explaining 60.5% of variance. Keywords: Product Quality, Consumer Trust, Online Customer Reviews, Purchase Decision, Shopee Marketplace
Perpetrator Authority and State Losses Differentiate Subsidized Fuel Adulteration Criminal Qualifications: Kewenangan Pelaku dan Kerugian Negara Membedakan Kualifikasi Pidana Pengoplosan BBM Bersubsidi Melati Sevhia Lutfidha; Emy Rosnawati
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1718

Abstract

General Background: Government fuel subsidies support economic stability and public purchasing power, yet distribution vulnerabilities frequently trigger illegal blending practices. Specific Background: Law enforcement against subsidized fuel adulteration in Indonesia applies different statutes, namely Law Number 22 of 2001 on Oil and Natural Gas as amended by Law Number 6 of 2023 and Law Number 31 of 1999 as amended by Law Number 20 of 2001 on the Eradication of Corruption Offenses. Knowledge Gap: Prior studies focused on sanction deterrence, distribution supervision, and transport misuse rather than normative comparisons of statutory qualifications across distinct perpetrator profiles. Aims: This study analyzes the legal application against subsidized fuel adulteration based on perpetrator characteristics, act characteristics, official authority, and legal consequences. Results: Using a normative legal method with a statutory approach analyzed deductively across two cases, findings show that physical blending of RON 90 Pertalite with illegal RON 87 gasoline by private gas station operators in Medan for personal gain without abuse of office constitutes an oil and gas offense under Article 55 of the Oil and Gas Law. Conversely, crude oil procurement manipulation and RON 92 blending with RON 90 at PT Pertamina Patra Niaga involving corporate officials who abused strategic authority and caused IDR 193.7 trillion in state financial losses fulfill corruption offense elements under Article 2 paragraph (1) and Article 3 of the Corruption Law. Novelty: This research establishes a comparative normative framework distinguishing general oil and gas crimes from corruption offenses across operational and corporate adulteration cases. Implications: Accurate statutory qualification ensures legal certainty and appropriate judicial jurisdiction between general courts and corruption courts. Highlights Private gas station operators mixing Pertalite with lower-octane gasoline for personal profit violate Article 55 of the Oil and Gas Law. Corporate executives manipulating crude oil imports and product specifications through abuse of office fulfill elements of the Corruption Eradication Law. Involvement of state budget allocations alongside official position determines whether cases proceed to general courts or corruption courts. Keywords: Subsidized Fuel Adulteration, Corruption Eradication Law, Oil And Gas Law, Abuse Of Authority, Law Enforcement
Electronic System Operators Strengthen Online Drug and Food Circulation Supervision: Penyelenggara Sistem Elektronik Memperkuat Pengawasan Peredaran Obat dan Makanan Daring Seila Septiawati Putri; Lidya Shery Muis
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1719

Abstract

General Background: Public health protection is a constitutional state obligation, yet digital trade expansion has increased consumer vulnerability to unsafe commodities. Specific Background: Throughout the first semester of 2025, the Directorate of Cyber Drugs and Food identified 79,015 links of illegal or dangerous products circulating on e-commerce platforms. Knowledge Gap: Prior studies largely focused on the weaknesses of the Food and Drug Supervisory Agency (BPOM), leaving the specific monitoring role of Electronic System Operators (PSE) and E-Commerce Operators (PPMSE) underexplored. Aims: This study analyzes the role of PSE or PPMSE in monitoring online drug and food circulation and its legal consequences for consumer and merchant protection. Results: Using a normative legal method with a statutory approach, findings demonstrate that BPOM Regulation Number 14 of 2024 in conjunction with BPOM Regulation Number 30 of 2025 reflects formal and material legal certainty by expanding legal subjects to include PPMSE, mandating substantive safety and distribution permit standards, and affirming that administrative sanctions do not eliminate criminal liability. PSE monitoring operates across preventive, repressive, consumer protection, and coordinative dimensions, shifting platform responsibility from safe harbour to intermediary liability, although notice and takedown mechanisms remain reactive. Novelty: This research conceptualizes the regulatory shift toward collaborative digital gatekeeping and intermediary liability under the updated BPOM legal framework. Implications: Strengthening online supervision requires integrating BPOM distribution permit databases with platform systems, enforcing strict merchant verification, and ensuring transparent consumer complaint mechanisms. Highlights: Updated regulatory frameworks establish legal certainty by mandating e-commerce platforms to verify merchant identities alongside distribution permits. Platform operators transition from safe harbour immunity toward intermediary liability across preventive, repressive, protective, plus coordinative dimensions. Reactive notice and takedown procedures require database integration with authorities alongside stricter merchant verification to protect consumers. Keywords: Electronic System Operators, Online Drug Circulation, Processed Food Supervision, Intermediary Liability, Consumer Protection
Manufacturer Accountability With Dynamic System Control Guides Indonesia Autopilot Traffic Regulation: Pertanggungjawaban Produsen serta Kendali Sistem Dinamis Memandu Regulasi Lalu Lintas Autopilot Indonesia Filia Amanda; Lidya Shery Muis
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1720

Abstract

General Background: Artificial intelligence advancements have facilitated the development of autopilot-driven autonomous vehicles operating without human intervention. Specific Background: Although autonomous vehicles have entered Indonesia since 2014, Law Number 22 of 2009 on Road Traffic and Transportation still positions human operators as the sole legal subjects, creating a legal vacuum regarding technological failures. Knowledge Gap: Prior Indonesian legal studies identified regulatory challenges for autopilot vehicles but lacked a comparative analysis of the United States and China to formulate comprehensive national legal reform. Aims: This study analyzes and compares the legal frameworks governing autonomous vehicles in the United States and China as a reference for developing Indonesian regulations. Results: Using normative legal research with comparative and conceptual approaches, findings reveal that the United States applies a decentralized state-level model emphasizing Society of Automotive Engineers (SAE J3016) automation levels, technical safety testing, and disengagement reporting, whereas China implements centralized pre-operation supervision, redefines the driver as a dynamic system controller, and enforces strict liability on manufacturers and operators under its Civil Code. Novelty: This research synthesizes China's centralized civil law strict liability model with the United States' technical safety and reporting standards into a regulatory framework tailored for Indonesia, including pilot testing in Nusantara Capital City (IKN). Implications: Indonesia should revise Law Number 22 of 2009 by adopting SAE automation classifications, expanding the driver definition to dynamic system controllers, and applying manufacturer strict liability to ensure legal certainty and public safety. Highlights: United States jurisdictions decentralize automated driving governance across individual states through technical safety evaluations, mandatory five million dollar insurance, plus annual failure disclosures. China centralizes pre-operation approvals while imposing absolute legal responsibility upon software developers, fleet operators, data providers, or local governments during technological malfunctions. Updating Act Number 22 of 2009 requires adopting six international automation levels, establishing specialized certification bodies, plus designating Nusantara Capital City as a testing zone. Keywords: Autonomous Vehicles, Strict Liability, Comparative Law, Dynamic System Control, Road Traffic Regulation
Brand Image And Trust Relate Positively To Purchases Unlike Location: Citra Merek Dan Kepercayaan Berhubungan Positif Dengan Pembelian Berbeda Dari Lokasi Fira Firnanda; Dewi Komala Sari
Indonesian Journal of Law and Economics Review Vol. 21 No. 4 (2026): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i4.1722

Abstract

General Background Micro, small, and medium enterprises must adapt to intense market competition to sustain their economic contributions and maintain operational viability. Specific Background The Jambangan Village cracker center in Sidoarjo Regency is a growing economic hub, yet it faces critical challenges regarding unstandardized packaging, inconsistent product quality, and inadequate parking facilities. Knowledge Gap While previous literature evaluates consumer behavior, existing empirical studies present inconsistent findings regarding how corporate reputation, client confidence, and physical accessibility dictate commercial transactions. Aims This study investigates how brand image, customer trust, and location shape purchasing decisions at the Jambangan Village cracker center. Results Analyzed through Partial Least Squares Structural Equation Modeling on data from 100 respondents, the findings reveal that brand image and customer trust positively and significantly determine purchasing decisions, whereas location exhibits a significant negative relationship. Novelty This research uniquely demonstrates that in specific rural business hubs, poor environmental infrastructure and limited accessibility can inversely associate alongside buying intentions despite strong product recognition. Implications Local producers must diversify their offerings and sales communication skills while actively collaborating with regional authorities to resolve infrastructure and parking limitations, thereby ensuring sustainable consumer convenience. Highlights: • Corporate reputation significantly dictates commercial transactions among local enterprise patrons. • Consumer confidence regarding product consistency shapes final transaction agreements favorably. • Limited physical site accessibility inversely associates alongside overall transaction volumes. Keywords: Brand Image, Customer Trust, Location Strategy, Purchasing Decision, Partial Least Squares
Online And Offline Sales System Integration Reveals Retail Inventory Synchronization Bottlenecks: Integrasi Sistem Penjualan Online Dan Offline Mengungkap Kendala Sinkronisasi Persediaan Ritel Thalia Aliyah Alare Asyah; Duwi Rahayu
Indonesian Journal of Law and Economics Review Vol. 21 No. 4 (2026): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i4.1723

Abstract

General Background Modern retail enterprises increasingly adopt integrated digital platforms to manage massive daily transactions and maintain operational consistency. Specific Background PT Indomarco Prismatama operates simultaneous digital application and physical point-of-sale channels, yet faces recurring inventory discrepancies between virtual records and physical stock. Knowledge Gap While prior literature evaluates retail inventory software independently, few studies examine the operational synchronization bottlenecks merging digital applications with conventional physical store databases. Aims This research examines the implementation and data integration of dual-channel commercial recording frameworks, identifying the systemic constraints causing stock variances. Results Qualitative descriptive analysis reveals that although physical point-of-sale systems operate efficiently in real-time, cross-channel synchronization experiences delays due to network disruptions, human error in return processing, absent automated control alerts, and complex multi-channel coordination during peak hours. Novelty This study maps the exact operational friction points where concurrent e-commerce and physical store transactions overlap, causing physical stock shortages. Implications Retailers must prioritize network infrastructure upgrades, implement automatic stock reservation mechanisms, tighten standard operating procedures, and deploy automated inventory alerts to ensure cross-channel data consistency. Highlights: • Simultaneous physical transaction frameworks frequently encounter data mismatches from network delays. • Manual processing regarding damaged goods contributes heavily toward unrecorded stock shortages. • Automatic item reservation mechanisms prevent dual purchasing during peak operational hours. Keywords: Accounting Information System, Digital Transaction, Stock Discrepancy, Internal Control, Point Of Sale
Financial Performance Moderates Intellectual Capital And Firm Size Predicting Corporate Value: Kinerja Keuangan Memoderasi Modal Intelektual Dan Ukuran Perusahaan Memprediksi Nilai Korporasi Alvianti Rosida; Heri Widodo
Indonesian Journal of Law and Economics Review Vol. 21 No. 4 (2026): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i4.1724

Abstract

General Background The banking sector continuously transforms into a knowledge-based industry, requiring strategic resource optimization to maintain competitive advantages. Specific Background Intellectual capital and physical firm size serve as crucial organizational elements that signal operational stability, resource capacity, and prospect viability to investors. Knowledge Gap Despite theoretical consensus, previous empirical studies present inconsistent findings regarding how non-physical resources and corporate dimensions directly determine organizational worth, suggesting the necessity of investigating financial metrics as moderating mechanisms. Aims This study examines how knowledge resources and company dimensions determine corporate worth while analyzing financial outcomes as a moderating variable within the Indonesian banking industry. Results Based on Moderated Regression Analysis of 150 observations from 30 listed banks between 2020 and 2024, both intellectual capital and firm size positively and significantly dictate organizational worth. Furthermore, financial performance significantly strengthens these direct relationships. Novelty This research integrates resource-based and signaling theories to explicitly map how high financial returns magnify the investor assessment of knowledge resources and corporate dimensions simultaneously. Implications Banking executives must prioritize non-physical resource management and operational efficiency, as robust financial outcomes maximize investor confidence and overall corporate worth. Highlights: • Knowledge resources significantly determine organizational worth within the banking industry. • Business scale positively correlates with higher market assessment among financial institutions. • Profitability metrics strengthen the relationship between non-physical assets and overall company pricing. Keywords: Intellectual Capital, Firm Size, Financial Performance, Firm Value, Banking Sector

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