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Journal of Business, Social and Technology
Published by Politeknik Siber Cerdika Internasional
ISSN : 28072928     EISSN : 28076362     DOI : 10.59261
Core Subject : Economy, Social, Engineering,
Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences
This journal publishes research articles covering all aspects of information technology, information systems, agricultural technology, computer social and political sciences, and economics that belong to the business, social, and technological context.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 286 Documents
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Comparative Evaluation of Mobile Forensic Acquisition Methods on iOS 17: A Study of Cellebrite Basic and Premium in Digital Artifact Recovery Ghifari Amanar; Ruki Harwahyu
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.706

Abstract

Background: The advancement of security systems in modern smartphones, particularly iOS devices, has introduced significant challenges to digital forensic investigations. At the same time, law enforcement agencies increasingly rely on digital evidence, making the completeness and reliability of acquisition methods critical factors in forensic examinations. Objective: This study aims to evaluate the differences in the completeness of digital artifacts obtained through logical acquisition and full file system (FFS) extraction methods on an iPhone 13 running the latest iOS version. Methods: An experimental methodology was employed by developing a ground-truth dataset based on user activity scenarios, including communications, media exchanges, and application usage. The acquisition results were subsequently analyzed to measure the recovery rate of digital artifacts, including deleted data and application-related artifacts. Results: The findings indicate that the FFS extraction method is capable of recovering a more comprehensive set of artifacts than logical acquisition, particularly data that cannot be accessed through conventional methods. However, this method involves greater complexity and depends on advanced forensic tools. Specifically, the FFS method recovered 64,057 files compared to 959 files obtained through Advanced Logical Extraction, representing a 6,580% increase in artifact volume. Notable differences were observed in web history (1,466 vs. 43 entries), images (13,140 vs. 367 files), and database artifacts (997 vs. 188 records). Conclusion: This research highlights the importance of selecting appropriate acquisition methods to support investigative processes and legal evidence examination, while also identifying a research gap in the forensic evaluation of devices running the latest versions of iOS.
Intention to Use Livin' Auto (Digital Vehicle Financing) in Mobile Banking Super-Apps: Integrating Technology Acceptance Model and IS Success Model Ruditya Pamungkas; Nurdin Sobari
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.709

Abstract

Background: Digital banking transformation has driven mobile banking toward the super-app concept integrating diverse financial services within a single platform. Bank Mandiri's Livin' Auto feature offers digital vehicle financing services; however, adoption remains suboptimal despite a rapidly growing mobile banking user base. Objective: This study analyzes the determinants of users' intention to use Livin' Auto (a digital vehicle financing service within Livin' by Mandiri) by integrating the Technology Acceptance Model (TAM) and the Information Systems Success Model (IS Success Model). Methods: A quantitative methodology utilizing Partial Least Squares Structural Equation Modeling (PLS-SEM) was implemented. Data were gathered through online surveys administered to 200 participants, who were chosen through purposive sampling from among Livin' by Mandiri users familiar with the Livin' Auto feature. Results: Interactivity, process completeness, technological service innovation, perceived ease of use (PEOU), and perceived usefulness (PU) were found to be significant predictors of the intention to use. Among these, perceived usefulness was identified as the most influential predictor (β = 0.412, t = 5.213, p < 0.01), whereas service diversity did not demonstrate a significant impact on either PEOU or PU. Conclusion: This study extends TAM and IS Success Model by validating their applicability in super-app-based digital vehicle financing contexts. The findings confirm that perceived usefulness and ease of use are primary adoption drivers, offering empirical insights for digital banking strategy in Indonesia.
Stock Market Reaction of LQ45 U.S.-Trading Partners Hengky Surya Bhuana; Ida Bagus Anom Purbawangsa
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/bustechno.v7i3.710

Abstract

Background: The reciprocal tariff policy introduced by President Donald J. Trump on April 2, 2025, triggered widespread uncertainty across global financial markets, with notable implications for Indonesia’s equity market. International trade measures of this nature can reshape investor sentiment, particularly among firms with substantial commercial ties to the United States. Objective: This research investigates how Indonesian equity market participants responded to the 2025 U.S. reciprocal tariff announcement by comparing average abnormal returns across pre- and post-event periods and examining market behavior surrounding the announcement date. Methods: Employing a quantitative event study design, this research selects LQ45 constituents engaged in U.S. trade activities through purposive sampling. The market-adjusted model is used as the benchmark for estimating expected returns, and the analysis incorporates descriptive statistics, paired-sample t-tests, and one-sample t-tests to examine abnormal return patterns. Results: The findings reveal a statistically significant difference in average abnormal returns between the pre- and post-announcement periods. Notably, negative abnormal returns emerged on d−2 and d−1 before the announcement, suggesting that market participants had already incorporated the anticipated policy effects into stock prices prior to the official disclosure. Conclusion: These results indicate that Indonesia’s equity market demonstrated an efficient response to publicly available information, consistent with the characteristics of semi-strong form market efficiency. The study highlights the significant role of international trade policies in shaping investment behavior and emphasizes the importance of incorporating cross-border economic risks into portfolio management strategies.
Circular Economy and Carbon Emission Reduction Strategies within The ESG Framework: A Case Study of PTPN IV PalmCo Putrie Cynthia Ichwan; Amrie Firmansyah
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.711

Abstract

Background: Indonesia's palm oil industry faces growing sustainability pressure, including compliance with the European Union Deforestation Regulation (EUDR). Following its December 2023 merger, PT Perkebunan Nusantara IV PalmCo is integrating ESG principles into its operations. Objective: This study aims to analyze the implementation of circular economy and carbon emission reduction strategies as part of the ESG framework at PTPN IV PalmCo. Methods: Using a descriptive qualitative case study with secondary data from company reports, verified media, and official documents (2023–2025), this research finds that PalmCo has implemented a circular economy by converting palm oil waste into renewable energy through 11 biogas facilities, targeting 32 facilities by 2029 and over 80% renewable energy utilization. Results: The carbon emission reduction strategy, implemented through both nature-based and technology-based approaches, has resulted in carbon sequestration of 873,395 tons CO₂e/year and emission reductions of 191,107 tons CO₂e/year, while also achieving the first Greenhouse Gas (GHG) Emission Reduction Certificate in the plantation industry. Both initiatives are strongly integrated into the ESG framework, as evidenced by PalmCo’s #2 global ranking in the S&P Corporate Sustainability Assessment (CSA) 2024 and its receipt of two Diamond Awards at the ESG Initiative Awards 2025. Conclusion: This research contributes to ESG literature in the plantation sector by demonstrating, through Legitimacy Theory, that PalmCo is transitioning from symbolic to substantive legitimacy, evidenced by verified emission reductions and the integration of ESG indicators into management KPIs. These findings offer a theoretical contribution to ESG implementation in state-owned plantation enterprises.
Analysis of The Impact of Spin-Off Announcements on Stock Performance: Evidence from Asia Rachma Wahyu Ningrum; Eka Pria Anas
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.713

Abstract

Background: This research is motivated by the increasing practice of spin-offs as a strategy for company divestment in responding to market dynamics and global business efficiency. The announcement of a spin-off is often considered a positive signal by investors because it is considered to be able to increase the company's business focus and create added value for shareholders. However, the results of previous research still show mixed findings regarding the influence of spin-offs on stock performance, especially in the Asian region. Objective: This study aims to analyze the impact of spin-off announcements on the stock performance of public companies in Asia for the period 2000–2025 and compare market reactions between developing and developed countries as well as between Asian subregions. Methods: The study used a quantitative approach with the event study method and the Constant Mean Return Model on 74 samples of spin-off events. Results: The results showed that the market responded positively on the event day and one day after the announcement, which was demonstrated through significant Average Abnormal Return (AAR) and Cumulative Average Abnormal Return (CAAR) values. However, in the period after the announcement, there was a market correction that showed that investor reactions were short-term. In addition, no significant differences were found between market reactions in developing and developed countries as well as between Asian subregions. Conclusion: This study concludes that spin-off announcements provide signals that tend to be ambiguous and are heavily influenced by the market context of each country.
The Narrative of "Foreign Exchange Hero" in Hermeneutics and Spiritual Accounting Perspective: A Case Study of Timor-Leste 2015–2025 Hernandi Julius Sousa Do Carma; Darwis Darwis; Alimuddin Alimuddin
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.714

Abstract

Background: Labor migration from Timor-Leste increased substantially during 2015–2025, driven by limited domestic employment opportunities and low industrial capacity. The resulting remittance inflows have given rise to the “foreign exchange hero” (pahlawan devisa) narrative, which frames migrant workers as national economic contributors while potentially obscuring the exploitation, family separation, and weak legal protections they experience. Objective: This study examines narrative surrounding low-skilled labor and the “foreign exchange hero” (pahlawan devisa) label attached to Timorese migrant workers during the 2015–2025 period through the perspectives of social hermeneutics and spiritual accounting. Methods: Using a qualitative-interpretive approach and a literature review, this research analyzes secondary data from SEFOPE, ILO, World Bank, BCTL, and academic journals published between 2015 and 2025. The hermeneutic analysis follows Gadamer’s concept of the fusion of horizons and Ricoeur’s narrative interpretation framework, complemented by Habermas’s theory of communicative action. Results: The findings indicate that: (1) the term “foreign exchange hero” is a symbolic construction that carries ideological meaning and reflects economic power relations; (2) such heroic narratives risk concealing the realities of suffering, exploitation, and injustice experienced by low-skilled migrant workers; and (3) the spiritual accounting perspective affirms that a nation’s economic success cannot be measured solely by remittance volume, but also by the state’s capacity to protect the welfare, rights, and dignity of its citizens. Conclusion: This study recommends national development strategies that are not dependent on the export of cheap labor but are instead oriented toward domestic job creation, educational strengthening, and humane labor policies.
A Transparent BESS Sizing Framework for Ramp-Rate Control of a 100 MW Solar PV Plant Using SoDa Synthetic Power Profiles Muhammad Haikal Erniza Putra; Faiz Husnayain
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.717

Abstract

Background: The integration of utility-scale solar photovoltaic power plants requires attention to short-term power fluctuations because photovoltaic output can change rapidly due to variations in irradiance, temperature, atmospheric conditions, and cloud movement. Objective: This study aims to evaluate a SoDa-based synthetic photovoltaic power profile and optimize Battery Energy Storage System capacity for ramp-rate control of a 100 MW solar photovoltaic power plant. Methods: A quantitative simulation and optimization approach was applied. A one-minute synthetic photovoltaic power profile was generated using SoDa, evaluated for monthly consistency against NASA POWER, and analyzed under multiple ramp-rate limit scenarios. The optimum BESS power and energy capacities were determined using deterministic grid search and benchmarked against Particle Swarm Optimization (PSO). Results: The synthetic profile demonstrated adequate monthly consistency with NASA POWER (Pearson r = 0.860, rRMSE = 5.99%), confirming its suitability for pre-feasibility ramp-rate analysis. Stricter ramp-rate limits produced markedly more violations and required higher BESS capacities, ranging from 10 MW/10 MWh for moderate limits up to 20.5 MW/20.5 MWh for the most stringent scenario, with 100% compliance achieved in all cases. This framework demonstrates the practical value of synthetic data-driven BESS sizing for early-stage solar project planning in data-scarce environments. Conclusion: Stricter ramp-rate limits increase BESS capacity requirements once the minimum capacity constraint is no longer sufficient. This study contributes an auditable, transparent pre-feasibility framework that integrates synthetic data generation, and advancing the literature on data-driven energy storage sizing for utility-scale solar PV projects.
Analysis of the Relationship Between ESG and Firm Value with the Moderating Role of Earnings Management Eka Anugerah Putra; Amrie Firmansyah
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.719

Abstract

Background: Environmental, Social, and Governance (ESG) has become an increasingly important non-financial factor in assessing corporate sustainability and long-term performance. Objective: This research seeks to analyze the impact of Environmental, Social, and Governance (ESG) factors on corporate value and to explore the role of earnings management as a moderating variable in the relationship between ESG and firm value. Methods: This research utilizes a quantitative methodology, drawing on panel data from consumer goods firms listed on the Indonesia Stock Exchange for the period spanning 2022 to 2025. The sample comprises 31 companies, yielding 124 firm-year observations, which were selected through purposive sampling. Environmental, Social, and Governance (ESG) performance is assessed via a disclosure index aligned with the Global Reporting Initiative (GRI) standards, while firm value is represented by Tobin’s Q. Results: This finding indicates that investors and consumers in the consumer goods sector continue to place greater emphasis on financial performance, product quality, price, and brand reputation than on sustainability-related information. Furthermore, earnings management is not proven to moderate the relationship between ESG and firm value. This study contributes to the literature by highlighting that the effectiveness of ESG in enhancing firm value depends not only on disclosure practices but also on market characteristics, investor perceptions, consumer behavior, and the firm's ability to integrate sustainability initiatives into business strategies that generate tangible economic benefits. Conclusion: The findings provide implications for managers and regulators in improving the quality of ESG implementation and ensuring that sustainability practices contribute to long-term value creation.
Organization Design and Manpower Strategy for Improving Financial Performance in Marginal Field: A Case Study of Upstream Oil and Gas Company in Indonesia SM Deasyana Prihadikta P; Achmad Fajar Hendarma
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/bustechno.v7i3.721

Abstract

Background: Marginal oil and gas fields present significant operational and economic challenges due to declining reserves, low production rates, high operating costs, and negative financial performance. Objective: This study aimed to develop an appropriate organizational model and manpower strategy for managing AX-145 to improve operational efficiency and support the long-term sustainability of marginal field operations. Methods: A qualitative single-case study was conducted using the Galbraith Star Model as the analytical framework. Data were collected through purposive interviews with key stakeholders, analysis of internal company documents, organizational structure evaluation, workload and role-criticality assessment, and Full-Time Equivalent (FTE)-based right-sizing analysis. Results: The study proposed a three-stage organizational transformation consisting of a Lean Internal Operating Model, Cluster Operating Model, and Strategic Partnership Model. The Stage-1 redesign reduced total field-allocated formations from 527 to 375 (28.8%) through supervisory consolidation, organizational delayering, optimized span of control, Operator Driven Reliability (ODR)-based multi-skilling, and Shared Service Organization (SSO) integration. The proposed manpower strategy integrated role-criticality assessment, workforce reallocation, competency-based multi-skilling, and the Manpower Productivity Index (MPI) as a performance measurement instrument, with the projected MPI improving from 0.71 to 1.00 and estimated manpower cost savings of USD 4–6 million annually. Conclusion: The proposed organizational model and manpower strategy provide a structured framework for improving manpower productivity and operational cost efficiency in marginal oil and gas fields while offering a practical reference for managing similar assets within Indonesia's upstream oil and gas industry.
Analysis of Fixed Asset Management Based on Life Cycle Asset Theory and Its Relevance to Company Financial Performance Ahmad Juanda; Driana Leniwati; Shobiq Zainudin
Journal of Business, Social and Technology Vol. 7 No. 3 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i3.722

Abstract

Background: This research is motivated by the large proportion of fixed assets in the company's asset structure as well as the challenges of efficiency after the COVID-19 pandemic and company mergers. Objective: This study aims to analyze the role of fixed asset management based on the theory of asset life cycle in supporting the company's financial performance at PT X, a port service company in the Tanjung Perak area of Surabaya. Methods: The approach used is a qualitative method with an explanatory case study design. Data were obtained through interviews, observations, and documentation, analyzed using data reduction, presentation, and conclusion drawing with source triangulation. Results: The results indicate that asset life cycle-based management is associated with improved financial performance, reflected in ROA rising from 0.50 to 0.72 and Asset Turnover from 2.12 to 3.10 over 2021–2025, based on triangulated interview, observation, and documentation data. The acquire and commission phases were implemented well, while the operate and dispose phases still show weaknesses, including the absence of a preventive maintenance system. Asset electrification cut operational costs by about 60% and supported ESG goals, though it did not consistently affect cash flow, shaped instead by other operational and funding policies. Conclusion: This study concludes that optimizing asset management based on asset life cycle can improve operational efficiency and profitability, extending Asset Life Cycle Management theory to a port service context. Companies are advised to develop digital-based integrated asset management, implement preventive and predictive maintenance, and strengthen management across all life cycle phases.

Page 26 of 29 | Total Record : 286

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