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International Journal of Applied Finance and Business Studies
Published by Trigin Institute
ISSN : 23383631     EISSN : 28099982     DOI : https://doi.org/10.35335/ijafibs
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
International Journal of Applied Finance and Business Studies is published with both online and print versions devoted to provide the publication of research finding in finance and business research studies. Objectives The main goal of ijafibs is to present outstanding, high quality research developments in all areas of finance and business research to a broad audience of academicians and professionals.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 307 Documents
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The effect of hotel facilities and guest satisfaction on customer loyalty at the Sibayak Hotel Berastagi Tambunan, Sontina Griche; Sihombing, Daniel
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.463

Abstract

This study aims to determine: (1) the influence of hotel facilities on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. (2) the influence of guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. (3) the influence of hotel facilities and guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel in Karo Regency. This research approach is quantitative research using a questionnaire. The population in this study were 300 customers at the Sibayak Berastagi Hotel in July to September 2025. From a population of 300 customers using the Slovin formula and a significance level of 10%. Based on the calculation, a sample of 75 customers was obtained. Direct hypothesis testing was used with the F test and partially with the t test. Based on the results of the study are as follows: (1) Partially the first hypothesis states that there is an influence of hotel facilities on customer loyalty at the Sibayak Berastagi Hotel. (2) Partially the second hypothesis states that there is an influence of guest satisfaction on customer loyalty at the Sibayak Berastagi Hotel. (3) Simultaneously, hotel facilities and guest satisfaction together have a significant influence on customer loyalty at the Sibayak Berastagi Hotel. (4) The effective contribution generated is 0.651, meaning that 65.1% of the independent variables contribute an effective influence on the dependent variable, while the remaining 34.9% is influenced by other factors.
Safe haven assets in emerging market (evidence from gold, government bonds, and crude oil in Indonesia 2019 – 2024) Hapsari, Yudith Dyah; Hamid, Agustini
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.464

Abstract

The study investigates the Save Haven properties of Gold, West Texas Intermediate (WTI) Crude Oil and Indonesian Government Bonds with maturities of 5 and 10 years against the Indonesian stock market over the period 2019 – 2024.  The period encompasses episodes of global financial stress, the COVID-19 pandemic, post-pandemic recovery, and heightened geopolitical and macroeconomic uncertainty from 2019 to 2024. Understanding safe-haven assets is crucial for investors in the Indonesian stock market, especially during periods of market turbulence. This study examines the characteristics of these assets, their link with geopolitical factors and economic stability, the influence of foreign exchange rates, and the function of diversification strategies in risk mitigation. We applied quantile regression method processed to evaluate relationship across different points of the return distribution. The results indicate that gold functions as a conditional safe-haven asset in Indonesia. Government bonds 5 years and 10 years demonstrate a maturity-dependent safe-haven attribute. Conversely, WTI crude oil serves as a significant safe haven predominantly in the later segments of the sample, notably in 2023 and 2024, while exhibiting minimal safe-haven characteristics during the initial periods. Overall, the results underscore the inherently dynamic and asset-specific nature of safe-haven effectiveness in emerging markets, demonstrating that no single asset consistently provides protection across all market scenarios in Indonesia
The impact of PT XL Axiata Tbk’s divestment on the stock zerformance of PT Mora Telematika Tbk on the Indonesia stock exchange Seto, Agung Anggoro
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.466

Abstract

This research aims to examine the impact of divestment occurring in the shares of PT. Mora Telematika Tbk on the Indonesia Stock Exchange. This research is categorized as a comparative study, which aims to compare the stock performance of PT Mora Telematika Indonesia Tbk before and after the divestment by PT XL Axiata Tbk. Performance is measured using two key metrics: actual return and trading volume activity. The data used in this study are secondary data, specifically daily closing stock prices (Closed Price) sourced from published financial statements and financial performance summaries of PT Mora Telematika Indonesia Tbk. The observation period covers one month prior to the divestment and one month following the divestment by PT XL Axiata Tbk. The data analysis technique used in this research is comparative analysis, which compares stock performance based on actual return and trading volume activity of PT Mora Telematika Indonesia Tbk before and after the divestment by PT XL Axiata Tbk. The data analysis method utilizes paired sample tests, specifically the Wilcoxon test. Based on the research findings, it is concluded that the divestment had a significant impact on the actual stock returns of PT Mora Telematika Tbk. The actual returns experienced an average decline of 11%, driven by dominant factors such as negative sentiment or rumors surrounding the company’s shares, as well as investor profit-taking. On the other hand, the Trading Volume Activity (TVA) showed no significant change before and after the divestment.
Asymmetric information moderation on the effect of institutional ownership on the oversubscription phenomenon of companies listed on the Indonesian stock exchange 2020-2022 Nusantari, Patih Rahmawati
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.467

Abstract

This study examines the effect of institutional ownership on IPO oversubscription in the Indonesian capital market, explicitly addressing the role of asymmetric information both as an explanatory factor and as a potential moderator. Drawing on signaling theory and information asymmetry theory, the study contributes to the IPO literature by empirically testing whether institutional investors serve as credible signals under conditions of uneven information distribution. Using a sample of 96 oversubscribed IPO firms listed on the Indonesia Stock Exchange during 2020–2022, multiple regression and moderated regression analysis are employed. The findings show that institutional ownership and asymmetric information each exert a positive and economically meaningful effect on oversubscription, while asymmetric information does not significantly moderate the institutional ownership–oversubscription relationship. This result fills a gap in the literature where asymmetric information has largely been treated as either a direct determinant or a conceptual argument, rather than a tested moderating mechanism. The findings imply that heightened information frictions may amplify speculative demand rather than dampen investor participation, with important implications for IPO pricing, disclosure quality, and investor protection in emerging markets.
Building brand awareness for local skincare brand glad2glow: The role of UGC, testimonials, and audience engagement on tiktok Efendi, Faturahman; Fauzi, Irsal
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.468

Abstract

This study seeks to investigate the impact of User Generated Content (UGC) and testimonials on brand awareness, with engagement serving as a mediating variable, for the skincare company Glad2Glow on TikTok. This study utilizes a quantitative methodology through the implementation of a survey technique. Data were gathered via questionnaires administered to respondents TikTok users and have encountered Glad2Glow’s digital marketing content. Sampling technique was purposive sampling, with the respondent count established according to predetermined study criteria. The investigation utilized Partial Least Squares–Structural Equation Modeling (PLS-SEM). The findings demonstrate that testimonials have a significant effect on engagement and brand awareness, with engagement effectively mediating the relationship between testimonials and brand awareness. These findings indicate that genuine, experience-driven testimonials enhance audience engagement and bolster brand awareness. The study reveals that User Generated Content (UGC) does not significantly influence brand awareness, neither directly nor indirectly via engagement as a mediating variable. This suggests that broad or low-credibility user-generated content may inadequately facilitate meaningful connections and is insufficient for establishing robust brand perceptions in consumers' thoughts. The findings offer managerial insights for organizations to develop more effective digital marketing strategies by emphasizing credible testimonial-based material to improve brand awareness on social media platforms.
Green marketing and omnichannel strategies on purchase decisions: The mediating role of disruptive marketing innovation Herawati, Novita; Fauzi, Irsal
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.470

Abstract

This study aims to analyze the effect of green marketing and omnichannel on purchasing decisions with disruptive marketing innovation as a mediating variable in environmentally friendly batik MSMEs. This study uses a quantitative approach with a survey method targeting Zie Batik Semarang consumers who have purchased products online and offline. Primary data were collected through a five-point Likert scale questionnaire and analyzed using the Partial Least Squares–Structural Equation Modeling (PLS-SEM) method. The results show that green marketing does not have a significant effect on purchase decisions. Omnichanel have a significant effect on purchase decision. Green marketing does not have a significant effect on disruptive marketing innovation. Omnichanel have a significant effect on disruptive marketing innovation. Disruptive marketing innovation have a significant effect on purchase decision. Disruptive marketing innovation is unable to mediate the effect of green marketing on purchase decisions. Disruptive marketing innovation is able to mediate the effect of omnichannel on purchase decisions. These findings indicate that the implementation of sustainable marketing strategies integrated with omnichannel systems and adaptive marketing innovations can increase consumer purchasing decisions in environmentally friendly batik SMEs. This study is expected to serve as a reference for SME players in designing relevant marketing strategies in the era of digital disruption.
Determinants of individual tax return filing compliance: Evidence from Indonesian civil servant teachers using PLS-SEM Br. Sembiring, Ceria Angellita Atengena; Sitompul, Grace Orlyn; Sinaga, Judith Tagal Gallena
International Journal of Applied Finance and Business Studies Vol. 13 No. 4 (2026): March: Applied Finance and Business Studies
Publisher : Trigin Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/ijafibs.v13i4.475

Abstract

This study investigates the determinants of individual taxpayer compliance in filing annual tax returns among Indonesian civil servant teachers. The population of this study consists of civil servant public senior high school teachers in Pasuruan Regency, with a total population of 190 teachers. The number of samples collected was 68 respondents. Previous studies have reported inconsistent findings regarding the effectiveness of tax information dissemination and digital tax system integration in improving compliance behavior. This study aims to examine the role of tax information dissemination, tax interpretation, and tax information system integration in influencing taxpayer compliance. A quantitative research design was used with a survey approach. This study contributes to the tax compliance literature by emphasizing the importance of taxpayer understanding and digital system integration in improving compliance behavior among civil servant taxpayers.

Page 31 of 31 | Total Record : 307

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