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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 1,796 Documents

173 174 175 176 177

The Impact of the Ultra-Micro (UMi) Finance Program in Tegal Regency on Customers’ Poverty Levels in 2025 Erwin Rizqi Maulana; Wahyu Widodo
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.v6i1.1677

Poverty remains a complex and multidimensional challenge in Indonesia, where limited access to capital constrains the growth of micro and ultra-micro enterprises. The Ultra-Micro Financing (Pembiayaan Ultra Mikro [UMi]) program, distributed through Permodalan Nasional Madani Membina Ekonomi Keluarga Sejahtera (PNM Mekaar), targets women-owned ultra-micro enterprises that are not yet adequately served by formal financial institutions. This study analyzed the impact of UMi program participation on the poverty status of PNM Mekaar customers in Tegal Regency by examining the duration of program participation, financing amount, business turnover, net profit, and housing index. This quantitative descriptive study used primary data from 100 PNM Mekaar customers in Tegal Regency who were selected through purposive sampling, with the sample size determined using the Slovin formula. Data representing conditions before and after becoming PNM Mekaar customers were obtained from eligibility forms and structured interviews and subsequently analyzed using descriptive statistics and a binary logistic (Logit) regression model in EViews 10. Average per capita income increased from IDR 618,883.4 to IDR 1,008,317, while average business turnover increased from IDR 1,953,000 to IDR 6,713,000 and average net profit increased from IDR 780,450 to IDR 2,525,500. The proportion of households classified as poor decreased from 22% to 12%. The Logit model was statistically significant overall (LR statistic = 50.53; p < 0.001), with a McFadden R-squared of 0.69.

The Implementation of Restorative Justice in the Criminal Justice System Under the New Criminal Code Lukas Galileo Malau; Muhammad Hafidz Maulana; Hartanto
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.v6i1.1681

The reform of criminal law in Indonesia through Law Number 1 of 2023 concerning the Criminal Code introduces a new paradigm in the criminal justice system by emphasizing a more humane, proportional, and restorative approach. The conventional retributive model, which focuses primarily on punishment, is considered insufficient to address the needs of victims, perpetrators, and society, particularly regarding recovery of losses, conflict resolution, and restoration of social harmony. This study aims to examine the implementation of restorative justice within the criminal justice system under the new Criminal Code and identify the challenges faced in its application. This research employed a normative juridical method using statutory and conceptual approaches. Data were obtained through the analysis of primary legal materials, including laws and regulations, as well as secondary legal materials such as legal literature, journals, and expert opinions. The data were analyzed qualitatively through descriptive-analytical methods to examine legal norms and their relevance to restorative justice principles. The results indicate that restorative justice is reflected in various provisions of the new Criminal Code, including sentencing objectives, judicial pardon, alternative sanctions, and mechanisms for resolving cases outside judicial proceedings. However, its implementation still faces challenges, including regulatory harmonization, victim protection, potential abuse of discretion, limited understanding among law enforcement officials, and differences in community perceptions. The study concludes that restorative justice has significant potential to strengthen Indonesia’s criminal justice system, but its effectiveness requires consistent regulations, institutional supervision, competent law enforcement resources, and protection of victims’ rights.

The Influence of Task Conflict and Abusive Supervision on Counterproductive Work Behavior: Emotional Intelligence as a Moderator Variable Inai Terra
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.v6i1.1683

Counterproductive Work Behavior is behavior that can harm the organization through decreased productivity, damage to assets, and disruption of work relationships between employees. This research aims to examine the influence of task conflict and abusive supervision on counterproductive work behavior and analyze the role of emotional intelligence as a moderator variable in these relationships. This research is based on Affective Events Theory and uses a quantitative approach. Primary data was collected through an online questionnaire on 215 active employees in formal organizations domiciled in the Special Region of Yogyakarta with a minimum working period of one year using the purposive sampling technique. Data analysis was carried out using the PLS-SEM method with the help of SmartPLS 4 software. The results of the study showed that abusive supervision had a positive and significant effect on counterproductive work behavior, while task conflicts did not have a significant effect on counterproductive work behavior. In addition, emotional intelligence has not been shown to moderate the influence of task conflicts or abusive supervision on counterproductive work behavior. The research model was able to explain the variation in counterproductive work behavior by 56.4%. These findings indicate that abusive supervision behavior is a more dominant factor in encouraging the emergence of counterproductive work behavior than task conflict, while emotional intelligence has not been able to weaken the influence of these two variables. Therefore, organizations are advised to strengthen ethical supervision practices and provide secure and anonymous reporting mechanisms to minimize counterproductive work behavior.

From legal to organizational formalization: A pyramid of organizational development approach to SME maturity a multiple case study of an Indonesian machining and MRO workshop Rivaldo Ciady; Sahat
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (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.v6i2.1684

Small and medium-sized enterprises (SMEs) in Indonesia are increasingly converting into limited liability companies, but such conversion changes a firm’s legal status without necessarily transforming how it operates. This study examines that gap in a family-owned machining and maintenance, repair, and operations (MRO) workshop in Jakarta that became a Perseroan Terbatas in 2023. The study applies the Pyramid of Organizational Development, extended by incorporating sustainability as a cross-cutting dimension, and uses a qualitative multiple-case design with polar reference cases. Data were collected through five semi-structured interviews, one focus group discussion, direct observation, and internal documents and were analyzed using framework analysis. Each dimension was scored on a five-level maturity scale derived from Flamholtz and Randle and the Capability Maturity Model Integration (CMMI). The focal firm scored 1.8 overall, positioning it between an unincorporated family business, which scored 1.1, and a formally managed peer, which scored 3.3. The relative ordering of the three cases remained consistent across all dimensions. Operational systems represented the weakest dimension, with the focal firm scoring Level 1, the same as the unincorporated case, compared with Level 4 for the formally managed peer. Two main findings emerged. First, the primary deficit concerned documentation rather than operational capability, as repeatable informal routines already existed but had not been formally documented. Second, organizational maturity did not increase automatically with firm age: the unincorporated case had operated since 2005 yet remained the least mature, whereas the formally managed peer was established in 2023.

The Impact of Green Financing on Transmission Projects in Indonesia Kinanta Syahriannanda; Sylviana Maya Damayanti
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (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.v6i2.1685

This study asks which capital structure creates the highest risk-adjusted value, comparing one operating cash flow under 100% equity and under conventional and green or concessional loans. Capital budgeting is applied through discounted cash flow analysis, sensitivity and break-even testing, and a 2,000-iteration Monte Carlo simulation. At project level the investment is feasible: NPV is Rp 12,327.93 billion at the 6.19% corporate discount rate, IRR is 11.65%, payback is nine years after commercial operation, and the probability of a non-negative NPV is 100.0%. Green or concessional debt at 3.93% under a 70% debt / 30% equity structure raises equity NPV from Rp 12,327.93 billion to Rp 13,894.82 billion and the return on XYZ equity from 11.65% to 17.43%, while annual debt service falls Rp 182.14 billion against conventional borrowing at 6.50%. Because the after-tax cost of concessional debt of about 3.06% lies far below the 11.25% cost of equity implied by a beta of 0.86 and a 6.69% country risk premium, leverage lowers the weighted average cost of capital to 5.52% and raises project NPV to Rp 15,099.87 billion, while project IRR remains 11.65% and Rp 8,437.74 billion of XYZ equity is freed. Both structures reach 100% simulated feasibility at the RKAP rate; tested against the stricter cost-of-equity hurdle, feasibility probability still rises from 68.40% under equity-only funding to 98.55% under green financing. Green or concessional financing is therefore preferable to both conventional debt and full equity funding, provided its currency-adjusted all-in cost remains below the cost of equity.

The Effect of Good Corporate Governance on Firm Value, with Profitability as A Mediator, in Companies in The Non-Cyclical Consumer Sector Listed on The Indonesia Stock Exchange for The Period 2022–2024 Tasya Fifiani Putri; Ika Yustina Rahmawati; Naelati Tubastuvi; Erny Rachmawati
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (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.v6i2.1687

This study evaluated the effect of Good Corporate Governance (GCG) on financial performance and firm value among consumer non-cyclicals companies listed on the Indonesia Stock Exchange during the 2022–2024 period, while also examining the mediating role of financial performance. Employing a quantitative research design with a purposive sampling method, the study used a sample of 44 companies, resulting in 100 observations. The empirical data were analyzed using multiple linear regression, path analysis, and the Sobel test with SPSS version 27. The findings showed that Good Corporate Governance (GCG) components had varying effects on profitability and firm value. Independent commissioners positively influenced profitability, whereas audit committee size negatively affected profitability, and board size had no statistically significant effect. Board size and audit committee size negatively affected firm value, while independent commissioners did not have a statistically significant effect on firm value. Profitability positively influenced firm value and successfully mediated the effects of independent commissioners and audit committee size; however, it did not mediate the relationship between board size and firm value. Board size had the highest mean value, indicating that it was the most dominant governance factor associated with profitability and firm value.

The Effect of Using Expanded Polystyrene (EPS) Geofoam as A Fill Material on Soft Soil on Settlement and Changes in The Groundwater Table: A Case Study of The Eastern Coastal Area of Langsa City, Aceh Province Nanik Handayani; Marini Bravikawati; Ipak Neneng Mardiah Bukit
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (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.v6i2.1688

Soft soil deposits commonly found in the eastern coastal area of Langsa City, Aceh Province, are characterized by low bearing capacity, high compressibility, and shallow groundwater levels, which may cause excessive settlement under conventional embankment loading. One alternative solution is the application of Expanded Polystyrene (EPS) geofoam as a lightweight embankment material. This study aimed to evaluate the effects of EPS geofoam on settlement reduction and groundwater table behavior in soft subgrade soils in the eastern coastal area of Langsa City. The research was conducted through a literature review, geotechnical data collection, laboratory parameter evaluation, and numerical modeling using the Finite Element Method (FEM) implemented in PLAXIS 2D. Two embankment scenarios were analyzed: a conventional soil embankment and an EPS geofoam embankment. The evaluated parameters included vertical deformation, stress distribution, excess pore water pressure, slope safety factor, and groundwater table changes associated with soil consolidation. The results indicated that EPS geofoam reduced embankment loading by more than 95% compared with conventional fill, resulting in substantially lower settlement. In addition, excess pore water pressure generated during loading was significantly reduced, leading to a slower consolidation process. EPS geofoam did not directly alter the groundwater table elevation; however, it minimized relative groundwater level changes by reducing surface settlement. Therefore, EPS geofoam was considered an effective lightweight embankment solution for road infrastructure constructed on soft coastal soils in the eastern coastal region of Langsa City.

Optimum Margin for PLN to Implement Energy Transition Based on RUPTL in Order to Maintain Financial Sustainability Yehuda Bayu Kristiawan; Sylviana Maya Damayanti
Journal Research of Social Science, Economics, and Management Vol. 6 No. 2 (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.v6i2.1689

The implementation of Indonesia's Electricity Supply Business Plan (RUPTL) 2025–2034 demands substantial investment to expand infrastructure and accelerate the national energy transition, while PT PLN (Persero) must simultaneously maintain affordable tariffs, financial covenant compliance, and long-term financing capacity under a cost-plus revenue model with an existing Public Service Obligation (PSO) margin of approximately 7%. This creates a strategic financing challenge, as the current margin may be insufficient to fund the planned investment program without increasing PLN's leverage or reliance on government support. This research aims to determine the minimum standalone PSO margin, assess the trade-off between margin adjustment and Penyertaan Modal Negara (PMN), and estimate PLN's executable direct investment capacity if the existing margin is maintained without additional PMN.Using a quantitative approach based on deterministic financial projections and scenario analysis, the study draws on secondary data including RUPTL projections, audited financial statements, and macroeconomic assumptions, evaluated through indicators such as Debt Service Coverage Ratio, Debt-to-EBITDA, interest-bearing debt, and funding gap, with tariffs held fixed. Results show the existing 7% margin without PMN is inadequate, causing PLN's leverage and debt-service capacity to breach acceptable thresholds. A 10% margin is identified as the minimum standalone level enabling financial sustainability without additional PMN. Higher margins reduce dependence on PMN, which is less predictable due to fiscal and political-budgetary factors. Without added PMN, PLN can execute about 87% of its direct CAPEX plan by shifting select projects to IPP financing and re-profiling disbursement schedules, though this reduces PLN's direct investment role.

Analysis of the Implementation of Corporate Internet Banking in Business Debt Management to Support Internal Control at PT Spindo Tbk Alfiani Parham; Alvy Mulyaning Tyas; Mustika Winedar
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.v6i1.1692

The implementation of digital financial systems in the manufacturing industry is crucial for accelerating cash flow turnover while maintaining the reliability of daily internal supervision. This study aimed to analyze the implications of implementing Corporate Internet Banking services on the effectiveness of internal control in managing accounts payable and vendor payments at PT SPINDO Tbk. This study employed a descriptive qualitative approach with a specific focus on the cash disbursement workflow. Primary data were obtained through in-depth interviews with key informants from the Finance Division who held authorization roles as Maker (Financial Staff), Checker (Financial Supervisor), and Approver (Financial Manager). Secondary data were supported by an analysis of the company’s non-confidential internal documents. Data validity was assessed through source triangulation and methodological triangulation. The results showed that the migration from manual systems to the Corporate Internet Banking platform significantly improved operational efficiency through time and cost savings. The system successfully reduced the administrative burden associated with manual preparation of giro/checks, eliminated physical courier queues at bank branches, and provided real-time cash transaction data. Based on the COSO Internal Control Framework and Accounting Information System (AIS) perspectives, the implementation of a tiered authorization system (Maker–Checker–Approver) and automated beneficiary account validation proved effective in minimizing the risks of fraud, duplicate payments, and human error.

Analysis of Factors Affecting Stock Prices of Mining Companies on the Indonesian Stock Exchange (IDX) for the Period 2021–2024 Berlian Yulikha; Miftahol Horri; Nurhayati
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.v6i1.1693

This study aimed to examine the simultaneous and partial effects of interest rates, inflation rates, and Earnings Per Share (EPS) on the stock prices of mining companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. A quantitative causal research approach was employed using secondary data obtained from Bank Indonesia and the Indonesia Stock Exchange. The study analyzed 80 observations from 20 mining companies selected through purposive sampling. The data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression analysis, the coefficient of determination, and hypothesis testing through F-tests and t-tests. The findings indicated that interest rates, inflation rates, and EPS simultaneously had significant effects on stock prices. Partially, interest rates and inflation rates had significant negative effects on stock prices, whereas EPS had a significant positive effect. Among the independent variables, EPS was identified as the most dominant factor influencing stock prices, suggesting that investors placed greater emphasis on corporate profitability than on macroeconomic indicators when evaluating mining stocks. Furthermore, the regression model explained 54.3% of the variation in stock prices, while the remaining 45.7% was explained by other factors outside the research model. These findings provide empirical evidence that both macroeconomic variables and firm profitability are important determinants of stock price movements in Indonesia’s mining sector and offer valuable insights for investors, corporate managers, and policymakers in formulating investment and financial strategies.

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Home Page

OAI Link

Editorial Team

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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

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