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Multifinance
Published by PT Altin Riset Publishing
ISSN : -     EISSN : 30248175     DOI : https://doi.org/10.61397/mfc.v1i2
Core Subject : Economy,
Economics, Econometrics & Finance
The Journal of Multifinance: Journal of Economics, Management and Banking is a journal that serves as a medium for studying various phenomena or issues as well as research findings related to Economics, Management, and Business in a broad sense. The journal aims to provide a platform for sharing research results and scientific thoughts related to key issues in this field. The journal covers, but is not limited to, the following fields of study: Public Investment Public Procurement Islamic Economics/Shariah Economics Islamic Investment Behavioral Investment Taxation Capital Markets and Investment Management for Banking and Insurance Management for SMEs Information Management Systems Investment and Governance of Information Technology Macroeconomics Microeconomics Regional Economy Public Sector Management Banking Format and Research Methods The journal accepts research and scientific writing using quantitative, qualitative, or a combination of both methods. Literature reviews, case studies, and papers that combine theory and practice in the mentioned fields are also welcomed. Journal Objectives The objectives of this journal are to encourage high-quality research and scientific thinking in the fields of Economics, Management, and Business, as well as to facilitate the exchange of ideas and research findings among academics, researchers, and practitioners. The journal also aims to strengthen the academic and practical contributions and influence in the studied field. Target Readership The journal is intended for academics, researchers, practitioners, and students who are interested and engaged in the fields of Public Investment, Public Procurement, Islamic Economics/Shariah Economics, Islamic Investment, Behavioral Investment, Taxation, Capital Markets and Investment, Management for Banking and Insurance, Management for SMEs, Information Management Systems, Investment and Governance of Information Technology, Macroeconomics, Microeconomics, Regional Economy, and the Public Sector. Review Process The journal follows a rigorous review process for each submitted article. At least two unbiased and professional reviewers in the respective field will review each article. The final decision to accept or reject an article will be made by the journal editor based on the recommendations of the reviewers
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 103 Documents
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EXPLORING STAKEHOLDER VOICES: ISAK 35 IMPLEMENTATION ON FINANCIAL STATEMENTS IN ISLAMIC BOARDING SCHOOLS OF LEBAK REGENCY Akbar, Taufik; Anasta, Lawe; Nugraha, Gugun
Multifinance Vol. 3 No. 2 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i2.491

Abstract

This study aims to explore the implementation of Interpretation of Financial Accounting Standards (ISAK) 35 in Islamic boarding schools (pesantren), focusing on Pondok Pesantren Daarus Sunnah Rangkasbitung, Lebak Regency, Banten Province. Although ISAK 35 is designed to enhance transparency and accountability in non-profit financial reporting, its implementation in pesantren still faces various obstacles. This study employs a qualitative approach using case study methods through in-depth interviews with six key stakeholders: pesantren administrators, supervisors, principals, finance staff, members of the Indonesian Ulema Council (MUI), and Muslim scholars. The findings reveal three main factors hindering ISAK 35 implementation: (1) inadequate accounting competence, (2) low understanding of financial reporting preparation, and (3) insufficient socialization and information. Stakeholders recognize the importance of accountability but emphasize alignment with pesantren values. Practical solutions proposed include: continuous training and mentoring, structured SOP development, accounting technology utilization, and effective socialization and advocacy. This study contributes to developing an adaptive and responsive ISAK 35 implementation model that respects the unique ecosystem of pesantren.
MANAGEMENT STRATEGIES FOR THE DEVELOPMENT OF MICRO ENTERPRISES IN NORTH BENGKULU DISTRICT Wardhani, Anjari Wahyu; Zeqing, Liu; Zhiquan, Zhang; Nurazi, Ridwan; Usman, Berto
Multifinance Vol. 3 No. 1 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i1.349

Abstract

The objective of this community service program (PKM) is to analyze management strategies for the development of micro-entrepreneurs in North Bengkulu Regency, with a focus on the promotion of QRIS (Quick Response Code Indonesian Standard) usage and the provision of Medium Business Credit (KUM) by Bank Bengkulu to support the growth of micro, small, and medium enterprises (MSMEs) in the region. The research employs lecture methods, interactive discussions, and simulation techniques to obtain a comprehensive understanding of business profiles, challenges faced, and the financial needs of MSMEs. The QRIS outreach initiative is conducted through various media and hands-on training sessions aimed at improving digital literacy and promoting the adoption of digital payment technologies among entrepreneurs. Additionally, management strategies are implemented to assist MSMEs in accessing Medium Business Credit provided by Bank Bengkulu. These strategies include business plan development, technical assistance, and financial management training. The results indicate that the use of QRIS enhances transaction efficiency and market access for MSMEs. Meanwhile, access to Medium Business Credit enables entrepreneurs to secure the capital needed for business expansion and increased production capacity. Strategic training and managerial assistance have proven effective in improving business management capabilities, which in turn enhance business performance and sustainability. Recommendations include expanding QRIS outreach programs, tailoring credit products to better suit MSME needs, and providing continuous management support to ensure stable and sustainable growth for MSMEs in North Bengkulu District.
LEVERAGING GREEN FINANCING FOR SUSTAINABLE RURAL DEVELOPMENT IN AFRICA: A BIBLIOMETRIC ANALYSIS OF LITERATURE Nhorito, Shadreck; Tendai, Manhando
Multifinance Vol. 3 No. 2 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i2.434

Abstract

The study focused on leveraging green financing for sustainable rural development in Africa. The bibliometric analysis of literature relating to the study was utilised through developing themes relating to the specific objectives of the study. The problem of the study is limited green financing in rural Africa due to lack of social justice by the responsible leaders when allocating finances for sustainable development. The specific objectives of the study are to establish the factors influencing green financing for sustainable rural development in Africa, to analyse the impact of green financing for sustainable rural development, to assess the challenges for leveraging green financing for sustainable rural development, and to establish strategies for leveraging green financing for sustainable rural development. The study was guided by the Capability Approach emphasizing on how people can understand the existence of unequal distribution of resources due to the destruction of capability and functioning of the members of the household. The result from literature shows that policy clarity, taxonomies, stable regulations and alignment with the global climate-finance architecture strongly influence green financing in rural Africa. Inclusive green growth pathway. National transitions that integrate skills, SMEs, and gender inclusion into green-finance programs tend to yield broader rural welfare improvements financial-sector constraints. Green-banking is limited by awareness, perceived complexity, and lack of dedicated funds, curbing diffusion in rural enterprises.
THE ROLE OF MOTIVATION AND WORKLOAD ON EMPLOYEE PERFORMANCE AT THE SADANANYA VILLAGE HEAD OFFICE CIAMIS REGENCY Purnamawati, Hilda; Dahlan, Malik Al Muslim Putra; Sukiman, Iyan
Multifinance Vol. 3 No. 2 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i2.451

Abstract

This study aims to explore the implementation of Interpretation of Financial Accounting Standards (Human resource performance is a key pillar in the effectiveness of public sector organizations, including at the village government level which serves as the frontline of public service. This research is motivated by the phenomenon of declining employee performance at the Sadananya Village Head Office, Ciamis Regency. This initial indication is reinforced by internal assessment data, increasing absenteeism rates, and pre-survey findings that describe problems related to low work motivation and perceptions of excessive workload. Therefore, this study aims to analyze in depth the conditions of motivation (X₁), workload (X₂), and employee performance (Y), and to examine the influence of motivation and workload variables on employee performance partially and simultaneously. This study uses a quantitative approach with a descriptive verification design. The sampling method used is a census (saturated sample), where the entire population of 80 employees is used as respondents. Data collection was carried out through questionnaires, and the data analysis technique used is multiple linear regression analysis with the help of SPSS software. This study found that most employees experience low work motivation, while on the other hand they feel a high workload. The results of statistical testing then confirmed that these two factors, motivation and workload, were proven to have an influence on employee performance, both when analyzed separately (partially) and combined (simultaneously).
IMPACT OF SERVICE QUALITY AND DIGITAL MARKETING ON SALES GROWTH OF CREATIVE ENTERPRISES Sikki, Nurhaeni; Ihwani, Najmi; Priadi, Dadi
Multifinance Vol. 3 No. 2 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i2.452

Abstract

This study investigates the impact of service quality and digital marketing on sales growth in creative enterprises, with a case study of the Kisah Hari Bandung start-up. The research aims to identify how these factors influence the achievement of sales targets and overall business performance. A quantitative survey method was applied with 99 respondents selected from a population of 4,224 consumers using probability sampling. Data were collected through questionnaires and analyzed using validity and reliability tests, classical assumption tests, and multiple linear regression. The findings reveal that service quality and digital marketing both have a positive and significant effect on sales growth, either individually or simultaneously. Together, these variables contribute 71.8% to sales growth, while the remaining proportion is influenced by other factors not examined in this study. The results highlight the importance of quality service delivery and effective digital marketing strategies for creative business sustainability.
GENERATION Z’S PERCEPTION OF FLEXIBLE WORK CULTURE AND ITS IMPACT ON PRODUCTIVITY Fidayan, Abdul; Tri Satya, Mutia
Multifinance Vol. 3 No. 2 (2025): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i2.502

Abstract

The rapid transformation of work systems driven by digitalization and the post-pandemic era has introduced flexible work culture as a new norm, particularly affecting Generation Z employees. This study aims to analyze the perception of Generation Z toward flexible work culture and its impact on individual productivity. A quantitative research approach was used with a total of 271 respondents consisting of Generation Z employees from various business sectors in Indonesia. Data were collected using a Likert-scale questionnaire adapted from validated instruments on work flexibility and productivity, and analyzed using SPSS 27 through validity, reliability, correlation, and simple linear regression tests. The results show a strong and significant positive relationship between the perception of flexible work culture and individual productivity (R = 0.726; R² = 0.527; Sig. < 0.05). This means that 52.7% of productivity variation can be explained by employees’ perception of flexibility in work time, location, and organizational support. However, role ambiguity and distractions in hybrid settings remain key challenges that hinder optimal performance. The study concludes that a positive perception of flexible work culture significantly enhances productivity when supported by clear role definitions, open communication, and trust-based leadership. Future research is suggested to include variables such as motivation, digital leadership, and work-life balance to better understand the behavioral dynamics of Generation Z in modern workplaces.
EMPLOYEE ENGAGEMENT ON WORK MOTIVATION AND ITS IMPACT ON INTENT TO LEAVE AT BUKIT RAYA SEKAWAN MINING COMPANY Pratama, Yudhistira Anugerah; Isnajati, Louisiani Mansoni
Multifinance Vol. 3 No. 3 (2026): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i3.463

Abstract

Employee engagement plays a crucial role in organizational success, influencing motivation, job satisfaction, and turnover intention. This study examines the relationship between employee engagement, work motivation, and turnover intention at Bukit Raya Sekawan Mining Company, addressing gaps in research within the mining sector. Using a quantitative approach with path analysis, data were collected from employees through surveys and observations, supplemented by secondary sources. Findings indicate that most employees perceive their engagement as appropriate to very strong, and the majority report high levels of work motivation. Turnover intention appears relatively low, with only a small proportion of employees showing a strong inclination to leave. The analysis reveals that employee engagement has a substantial impact on work motivation and turnover intention. Work motivation also directly affects turnover intention, underscoring its role in employee retention. Moreover, engagement indirectly influences turnover intention through motivation, reinforcing its overall effect. These results highlight the importance of fostering a supportive work environment, improving career development opportunities, and enhancing compensation to strengthen engagement and motivation. Future studies should explore additional factors such as leadership, organizational culture, and work-life balance to provide comprehensive understanding of employee behavior in the mining industry.
THE EFFECT OF BRAND AWARENESS AND PRODUCT QUALITY ON CONSUMER LOYALTY TO JNC SNACK FOOD PRODUCTS COOKIES IN BANDUNG CITY Rahmaeni, Define Haifa; Aprianti, Ine; Zaelani, Pupi Indriati; Hersusetiyati, Hersusetiyati
Multifinance Vol. 3 No. 3 (2026): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i3.514

Abstract

JNCCookies faces challenges in maintaining revenue stability outside of seasonal periods. The  preliminary survey results indicate that consumer brand awareness of JNC Cookies is relatively low  and that the product quality has not fully met consumer satisfaction, thereby affecting consumer  loyalty.This study aims to analyze the influence of brand awareness and product quality on consumer  loyalty using a qualitative method quantified through a descriptive and verificative approach involving  100 respondents. The novelty of this research lies in its focus on the relationship between brand  awareness and product quality toward consumer loyalty at JNC Cookies, which has not been  extensively studied specifically within the handmade cookie industry in Bandung City.The findings  reveal that both brand awareness and product quality have a effect on consumer loyalty, both partially  and simultaneously. These results emphasize that both factors play an essential role in building long term consumer loyalty.Based on these findings, JNC Cookies is recommended to strengthen its  marketing strategies through more intensive promotions, building a strong brand identity, and creating  unique product characteristics that differentiate it from competitors in order to foster stronger and more  sustainable consumer loyalty.
THE EFFECT OF RETURN ON EQUITY (ROE) AND DEBT TO EQUITY RATIO (DER) ON STOCK PRICES IN THE PRIVATE BANKING SECTOR THAT ARE CONSISTENTLY LISTED ON THE INDONESIA STOCK EXCHANGE IN THE PERIOD 2020–2024 Amalia, Lia; Susanto, Bambang; Nurwathi, Nurwathi; Abimanyu, Ketut
Multifinance Vol. 3 No. 3 (2026): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i3.515

Abstract

Stock prices are one of the important indicators for investors because they reflect the company's current performance as well as future prospects, and are the main consideration in investment decisions. Private banking companies listed on the Indonesia Stock Exchange for the 2020–2024 period have fluctuating share prices and some tend to decline. This condition is influenced by many factors, both internal and external. Therefore, this study aims to know, explain, and analyze the influence of Return on Equity and Debt to Equity Ratio on stock prices in the private banking sector that are consistently listed on the Indonesia Stock Exchange for the 2020– 2024 period. This study uses a quantitative approach with a population of 36 companies and a sample of 25 companies selected through purposive sampling. The analysis method used was multiple linear regression with the help of the EViews 12 program. The results of the study show that partially Return on Equity has a significant positive effect on stock prices with a partial determination coefficient of 56.73%, while the Debt to Equity Ratio has a negative effect of insignificant with a partial determination coefficient of 0.49%. Simultaneously, Return on Equity and Debt to Equity have a significant effect on the stock price with an Adjusted R- Square value of 58.29%, which means that the two variables are able to explain the variation in stock prices together. The novelty of this research is the use of the latest period until 2024 which provides a more up-to-date picture of the performance of private banking in Indonesia.
THE EFFECT OF COMPENSATION ON EMPLOYEE PERFORMANCE AT PT JOYCI NUSANTARA CEMERLANG Daughter, Nandita Melta; Lilyana, Fitria; Sikki, Nurhaeni
Multifinance Vol. 3 No. 3 (2026): Multifinance
Publisher : PT. Altin Riset Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61397/mfc.v3i3.516

Abstract

PT Joyci Nusantara Cemerlang is a company engaged in the food industry, specifically in the production of dry cookies. In its production process, employees play an important role in maintaining product quality and ensuring smooth operations. However, based on pre-survey results and interviews, it was found that the compensation received by employees did not fully meet the Bandung Regency Minimum Wage Standard, along with a decline in performance in several aspects. This study aims to analyze the effect of compensation on employee performance. The research method used is a qualitative approach quantified into quantitative data. Data were collected through questionnaires distributed to 50 respondents and analyzed using descriptive analysis, simple linear regression test, correlation coefficient, determination, and t-test. The results show that compensation falls into the “Fair” category with an average score of 3.02, while employee performance is also in the “Fair” category with an average score of 3.19. Partially, compensation has an effect on employee performance with a t-value of 4.537 > t-table value of 1.677 and a significance level of 0.000. The coefficient of determination (R²) of 0.300 indicates that compensation contributes 30% to employee performance, while the remaining 70% is influenced by other factors not examined in this study.

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