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Journal Research of Social Science, Economics, and Management

jrssem
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Published by CV. Publikasi Indonesia

ISSN : 28076494 EISSN : 28076311 DOI : 10.36418

Core Subject : Social,

Environmental Science

The Journal Research of Social Science, Economics, and Management is a double-blind peer-reviewed academic journal and has open access to social and scientific fields. The journal is published monthly once by CV. Publikasi Indonesia. The Journal Research of Social Science, Economics, and Management provides a means for sustained discussion of relevant issues that fall within the focus and scopes of the journal which can be examined empirically. The journal publishes research articles covering all aspects of including social science, economics, management, law, and education.

Arjuna Subject : Ilmu Sosial - Ilmu Sosial (Lain-Lain)

Articles 1,715 Documents

166 167 168 169 170

Measuring Stock Investment Risk Using Expected Shortfall with the Gramcharlier Expansion at PT. Energi Mega Persada Tbk Rifa Trisna Putri; Dwi Sulistiowati; Dony Permana; Fenni Kurnia Mutya
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1615

Stock investment provides attractive return opportunities but is also accompanied by significant risks due to price volatility, especially in the energy sector. This study aims to measure the investment risk of PT Energi Mega Persada Tbk (ENRG) shares using the Expected Shortfall (ES) method with the Gram–Charlier Expansion approach. The research uses a quantitative approach based on secondary data consisting of daily closing prices of ENRG shares during the period January 2020 to December 2025, obtained from Investing.com. The analysis process included stock return calculation, descriptive statistical analysis, normality testing, and risk measurement using Value at Risk (VaR) and Expected Shortfall under both normal distribution assumptions and the Gram–Charlier Expansion approach. The results indicate that ENRG stock returns do not follow a normal distribution, characterized by positive skewness and high kurtosis, which reflects asymmetric behavior and heavy-tailed distribution. The risk measurement using normal distribution at a 95% confidence level produces an Expected Shortfall value of ?0.0771, while the Gram–Charlier Expansion approach generates a higher absolute Expected Shortfall value of ?0.2493. These findings demonstrate that the Gram–Charlier Expansion approach provides a more conservative and realistic estimation of extreme loss risks because it incorporates skewness and kurtosis characteristics of stock returns. Therefore, the application of Expected Shortfall based on Gram–Charlier Expansion is considered more appropriate for measuring investment risk in highly volatile energy sector stocks, particularly for investors requiring more accurate risk management information.

The Effect of Capital Intensity, Executive Characteristics, and Profitability on Tax Avoidance, With Leverage as A Moderating Variable, in Manufacturing Companies in The Non-Consumer Sector – Cyclicals Listed on The IDX from 2023 to 2025 Sisca Sisilia Cintia Febi
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1619

This study aims to analyze the influence of capital intensity, executive character, and profitability on tax avoidance with leverage as a moderation variable in manufacturing companies in the non-cyclical consumer sector listed on the Indonesia Stock Exchange for the 2023–2025 period. This study uses a quantitative method with secondary data obtained from the company's annual financial statements. The sampling technique used purposive sampling so that as many as 52 manufacturing companies in the consumer non-cyclicals sector met the research criteria during the 2023–2025 period. The data analysis technique used is Structural Equation Modeling (SEM) based on Partial Least Square (PLS) with the help of the SmartPLS application. The results of the study show that capital intensity has a positive effect on tax avoidance, while executive character and profitability have no effect on tax avoidance. In addition, leverage is able to moderate the effect of capital intensity on tax avoidance in a negative direction and is able to moderate the effect of profitability on tax avoidance in a positive direction. However, leverage is not able to moderate the influence of executive character on tax avoidance. Simultaneously, capital intensity, executive character, and profitability have an effect on tax avoidance in manufacturing companies in the non-cyclical consumer sector listed on the Indonesia Stock Exchange for the 2023–2025 period.

Competitive Strategy Analysis using SWOT and QSPM Matrix: A Case Study on MSMEs Putri Tunggal, Cikurubuk Main Market, Tasikmalaya Nita Sulistiawati; Rina Madyasari
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1621

This study aims to analyze the competitive strategies of Putri Tunggal MSMEs, a vegetable trading business in the Cikurubuk Main Market, Tasikmalaya, using SWOT and QSPM analysis. A qualitative descriptive approach was applied with purposive sampling of five informants consisting of the business owner, two employees, and two regular customers. Data were collected through in-depth interviews, direct observations, and documentation, then validated through source triangulation to ensure the validity and reliability of the findings.The SWOT analysis identified four strengths, namely product freshness based on direct procurement from farmers, competitive selling prices, friendly and responsive service, and a strong loyal customer base. Four weaknesses were also identified, including stock instability, limited financial recording, absence of formal business legality (NIB), and limited stall conditions. Four opportunities were found, consisting of consistently high demand for fresh vegetables, wholesale market expansion, government support programs for MSMEs, and potential product variations. Four threats were also identified, namely intense price competition, supply instability from farmers, the entry of new competitors, and unpredictable vegetable price fluctuations.The SWOT matrix generated eleven strategy alternatives, which were then evaluated using QSPM analysis to select five priority strategies. The top priority is wholesale segment development (TAS 6.40), followed by product variation addition (TAS 5.87), differentiation through freshness and premium service guarantees (TAS 5.82), scheduled procurement agreements with farmers (TAS 5.68), and NIB management with digital record-keeping (TAS 4.46). These strategic recommendations offer practical guidance for vegetable traders in traditional markets facing intense competition.

The Effect of the Capital Adequacy Ratio and Non-Performing Loans on Profitability, With Good Corporate Governance as a Moderator: A Study of Commercial Banks Listed on the Indonesia Stock Exchange, 2020-2024 Evi Christiani; Sunarto Sunarto
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1626

This study aims to analyze the effect of Capital Adequacy Ratio (CAR) and Non-Performing Loan (NPL) on bank profitability with Good Corporate Governance (GCG) as a moderating variable. A quantitative approach was employed using secondary data from annual financial reports of commercial banks listed on the Indonesia Stock Exchange for the 2020–2024 period. The sample consisted of 14 banks selected through purposive sampling, yielding 70 observations. Data analysis was conducted using Moderated Regression Analysis (MRA) with SPSS version 25. The results show that CAR has a significant negative effect on profitability, indicating that high capital adequacy does not necessarily increase profitability without effective capital management, consistent with Signalling Theory. NPL does not have a significant effect on profitability, implying that banks have implemented adequate credit risk management, consistent with Stakeholder Theory. GCG strengthens the effect of CAR on profitability, indicating that good governance improves capital management effectiveness, supporting Agency Theory. However, GCG is unable to moderate the effect of NPL on profitability, suggesting that credit risk management is more influenced by credit analysis quality and macroeconomic conditions than by governance mechanisms. These findings provide empirical evidence on GCG's role in strengthening the relationship between capital adequacy and bank profitability, offering practical implications for banking management in optimizing capital management and implementing corporate governance to improve financial performance. For future research, it is recommended to expand the research period, add macroeconomic control variables, and use more comprehensive GCG proxies.

Analysis of Customer Preferences in Choosing Animal Health Care Facilities in The City of Surabaya Using Conjoint Analysis Ramadhanty Ramadhanty; R. Mohamad Atok
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1627

The increasing number of pet owners in Surabaya City has intensified the demand for high-quality animal healthcare services; however, quantitative studies examining the service attributes that most influence customer preferences remain limited. This study aimed to identify the service attributes that most influenced customers’ decisions when selecting animal healthcare facilities in Surabaya City and to analyze the influence and relationship of demographic factors on these preferences. This study employed a conjoint analysis method involving 392 respondents. The analysis was further supported by ordinal logistic regression and Spearman and Kendall’s Tau correlation tests. The results showed that price was the most influential attribute, with a relative importance value of 52.227%, followed by service location (15.511%) and operational hours (12.757%). Other attributes, including additional facilities, veterinarian experience, and diagnostic facilities, demonstrated relatively lower levels of importance. Demographic analysis revealed that income had a consistent influence on and relationship with customer preferences, whereas age and gender did not demonstrate significant effects or relationships with customer preferences. The findings suggest that animal healthcare service providers in Surabaya City should prioritize pricing strategies and location accessibility to improve competitiveness and meet customer expectations.

Wealth Tax as an Alternative Fiscal Instrument: A Systematic Literature Review of Its Potential to Reduce the Gini Coefficient and Increase the Taxto-GDP Ratio Toward Indonesia Emas 2045 Arief Hidayat Adam; Radhi Abdul Halim
Journal Research of Social Science, Economics, and Management Vol. 6 No. 1 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v6i1.1628

This study aimed to analyze the potential of wealth tax as an alternative fiscal instrument to support reductions in the Gini coefficient and increases in the tax ratio within the context of the Indonesia Emas 2045 agenda. The study employed a qualitative approach through a systematic literature review using the Scopus database as the primary source. Searches conducted for the 2015–2025 period yielded 599 initial records. After removing duplicates and conducting screening based on publication year, journal quality, abstract completeness, relevance, and full-text accessibility, a total of 117 studies from Scopus and seven supporting studies from other sources were included in the final synthesis. Data were analyzed descriptively and thematically, focusing on distributional impacts, revenue capacity, behavioral responses, administrative challenges, asset valuation, and political considerations. The synthesis results indicated that wealth taxes have the potential to reduce wealth concentration and strengthen fiscal system progressivity; however, their effects on the Gini coefficient depend on the scope of the tax base, thresholds, tax rates, exemptions, revenue utilization, and taxpayer responses. Their contribution to the tax ratio is also not automatic, as it is influenced by administrative costs, capital mobility, tax avoidance practices, and the ability of authorities to identify and assess taxable assets. The literature emphasized the importance of asset registries, third-party reporting, information exchange mechanisms, beneficial ownership identification, valuation guidelines, and risk-based supervision. For Indonesia, wealth taxes are more appropriately positioned as part of a broader fiscal reform strategy rather than as a standalone instrument.

Implementation of the Fuzzy AHP, PROMETHEE II, and VIKOR Methods in Selecting Priority Projects in the Utilities Area of the PT ABC Refinery Dwiky Nugraha; Vita Ratnasari; Ridho Bayuaji; Ruri Agung Wahyuono
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1629

The Utilities Plant at PT ABC’s LNG Plant has experienced declining reliability due to aging infrastructure. Data from the 2019–2024 period showed that 8 out of 13 Process Train operational failure cases were attributed to utility area failures, resulting in losses amounting to hundreds of billions of rupiahs. Capital investment evaluation (CAPEX) has traditionally focused primarily on financial indicators without incorporating non-financial parameters. This study applied a three-stage hybrid multicriteria decision-making (MCDM) model consisting of Fuzzy Analytical Hierarchy Process (FAHP) based on Buckley’s approach, PROMETHEE II, and VIKOR to optimize the selection of eight strategic project alternatives. The FAHP results identified Safety (35.06%) and Reliability (22.48%) as the highest-priority criteria. The PROMETHEE II method ranked HV Transformer Replacement (A3) as the first priority (net flow = +0.5308) and DCS Upgrade (A2) as the second priority (net flow = +0.5223). However, the Acceptable Advantage test in the VIKOR method indicated a very small difference in the compromise index (?Q = 0.0469 < 0.1429), suggesting that the ranking difference between the top alternatives was not sufficiently significant. Sensitivity analysis within the ±5% range resulted in shifts in the priority rankings, confirming the interdependence between power supply reliability and control automation systems. This study recommends HV Transformer Replacement (A3) and DCS Upgrade (A2) as co-priority project alternatives for implementation.

The Impact of Green Finance Policy on Investment Behavior at Renewable Energy Companies in Indonesia Ikayanti Puspaning Kartini; Grasia Wieke Tantyasari; Mita Sonaria
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1632

This research examines the influence of Green Finance Policy on investment behavior in renewable energy companies in Indonesia. This issue is motivated by the increasing urgency of transitioning to a low-carbon economy, the substantial financing requirements for renewable energy projects, and the uncertainty regarding the effectiveness of green finance implementation in developing countries. This research aims to analyze whether Green Finance Policy influences companies’ investment behavior and whether profitability and leverage moderate this relationship. Using an explanatory quantitative approach, this study employs panel data from energy sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period, with investment behavior measured using the ratio of capital expenditure to total assets. The empirical analysis was conducted using the Fixed Effects Model. The results show that Green Finance Policy has a positive but statistically insignificant effect on investment behavior. Profitability demonstrates a significant direct relationship with investment behavior but does not moderate the effect of Green Finance Policy. Leverage and firm size were also found to have insignificant effects. This study concludes that green finance policies have not yet directly encouraged renewable energy investment in Indonesia. This research contributes to the sustainable finance literature by emphasizing the importance of corporate fundamentals and macroeconomic conditions in explaining corporate investment behavior in developing countries.

Evaluation of The Success of The Implementation of PT XYZ’s Vendor Invoicing Portal (VIP) System Using Delone & Mclean’s Information System Success Model Lailatul Fitriyah
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1633

This research aims to evaluate the success of the VIP system implementation using the Information System Success Model by DeLone and McLean, by adding the variables of trust and perceived risk to enrich the evaluation model in the context of digital transaction systems. The research model includes eight main constructs: system quality, information quality, service quality, perceived risk, trust, intention to use, user satisfaction, and net benefit. This research used a quantitative approach with a questionnaire instrument distributed to internal and external users of the VIP system. Data analysis is conducted using the Partial Least Square–Structural Equation Modeling (PLS-SEM) method. The research results show that trust has a significant effect on the intention to use, while system quality, information quality, service quality, and perceived risk do not have a significant effect on the intention to use. These findings indicate that in systems that are mandatory or required as part of a company's business process, trust in the security and reliability of the system becomes the main factor driving usage. Service quality significantly affects user satisfaction, while intention to use and user satisfaction significantly affect net benefit. These results indicate that the benefits of the VIP system are primarily obtained thru a positive user experience and a high level of user satisfaction. This research provides empirical contributions to the development of information system success models in the context of digital payment systems and offers strategic recommendations for improving service quality and the effectiveness of VIP system implementation at PT XYZ.

Analysis of the Flow of the Connection Service Process to Achieve an Increase in Electricity Sales Using Application Design Rizal Bima Bayuaji; Erma Suryani
Journal Research of Social Science, Economics, and Management Vol. 5 No. 12 (2026): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v5i12.1641

The electricity customer connection process at PT PLN (Persero) continues to face significant operational challenges, including unintegrated data systems, limited real-time monitoring capabilities, and slow coordination between units. These challenges negatively impact overall service efficiency and electricity sales growth. This study aims to analyze the current customer connection workflow and design an integrated information system application to improve operational effectiveness and service quality. Using a descriptive qualitative approach, data was collected through direct observation, comprehensive operational document analysis, persona canvas, and Root Cause Problem Solving (RCPS) to identify business process issues. Diagnostic analysis revealed that severe data fragmentation and the absence of a centralized monitoring platform were the primary root causes of delays. To address these challenges, the Integrated Customer Connection (ICE) application was designed. This system seamlessly integrates the end-to-end workflow, including initial customer inquiries, technical surveys, field connection execution, and real-time operational monitoring through an interactive dashboard. The application design implementation successfully accelerated kWh sales, with a projected volume increase of 1,867,177 kWh by 2025. This achievement represents a 6.24% increase in sales compared to 2024, reaching a total volume of 13,178,583 kWh while drastically reducing the average service duration to 1.38 days. Furthermore, the software offers advanced functional features, including job status tracking, network load analysis, and market potential mapping.The study concluded that user-centric application development effectively increased process transparency, optimized customer connection efficiency, and drove strategic electricity sales growth at PT PLN (Persero).

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Home Page

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Google Scholar

Contact Name Zidnal Falah

Contact Email jurnalcomserva@gmail.com

Phone +6285322218207

Journal Mail Official muhammadzidnal31@gmail.com

Editorial Address Jl. Ki Ageng Tapa (Perumahan Pondok Mutiara Gegunungan Blok F9) RT 3, RW Gegunungan, Sumber, Kab. Cirebon, Jawa Barat.

Location Kab. cirebon, Jawa barat INDONESIA

Abstract

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Contact Name
Zidnal Falah

Contact Email
jurnalcomserva@gmail.com

Phone
+6285322218207

Journal Mail Official
muhammadzidnal31@gmail.com

Editorial Address
Jl. Ki Ageng Tapa (Perumahan Pondok Mutiara Gegunungan Blok F9) RT 3, RW Gegunungan, Sumber, Kab. Cirebon, Jawa Barat.

Location
Kab. cirebon,

Jawa barat

INDONESIA