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Danadyaksa: Post Modern Economy Journal
Published by Yayasan Pendidikan Islam Bustanul Ulum Mojokerto
ISSN : -     EISSN : 30258545     DOI : https://dx.doi.org/10.69965/DPMEJ
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Danadyaksa: Post Modern Economy Journal is an open-access, peer-reviewed journal whose objective is to publish original research papers related to the economy, Sharia economy, and business issues. This journal is also dedicated to disseminating the published articles freely for international academicians, researchers, practitioners, regulators, and public societies. The journal welcomes authors from any institutional background and accepts rigorous empirical or theoretical research papers with any methods or approach that is relevant to the Economy, Sharia Economy, and Business Issues content, as long as the research fits one of four salient disciplines: Economy, Sharia Economy, Business, and Accounting. Economics: Development Economics, Public Economics, International Economics, Monetary Economics, Microeconomics, Macroeconomics, Econometrics. Sharia Economics: Sharia Business and Management, Sharia Finance, Sharia Accounting, Sharia Social Finance. Business & Management: Human Resource Management, Strategic Management, Marketing Management, Financial Management, Operations and Knowledge Management, Entrepreneurship, Business Ethics and Sustainability. Accounting: Financial Accounting, Public Sector Accounting, Management Accounting, Accounting Information System, Auditing, Corporate Governance, Sustainability Accounting, Education Accounting.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 172 Documents
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The Role of Corporate Governance Mechanisms in Mitigating Greenwashing Practices and Environmental Management Control Systems as a Moderating Variable in Manufacturing Companies in ASEAN Uliani Arifah; Asniati Bahari
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.435

Abstract

Greenwashing has emerged as a critical concern in the ASEAN-5 region as stakeholder demands for environmental transparency and corporate accountability continue to intensify. This phenomenon reflects weaknesses in internal monitoring mechanisms and the integration of environmental control systems, leading some companies to provide symbolic sustainability disclosures without substantive environmental implementation. Drawing on legitimacy theory and institutional theory, this study investigates the influence of corporate governance mechanisms on greenwashing practices, examines the direct effect of Environmental Management Control Systems (EMCS) on greenwashing, and evaluates the moderating role of EMCS in the relationship between corporate governance and greenwashing among manufacturing companies in ASEAN-5 countries. This quantitative study employs secondary data obtained from manufacturing firms listed on the stock exchanges of Indonesia, Malaysia, Singapore, Thailand, and the Philippines during the 2022–2024 period. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4 software. A two-stage approach was applied to assess the moderating effect of EMCS. The findings reveal that corporate governance mechanisms collectively have a significant negative effect on greenwashing practices. However, among the governance dimensions examined, only board environmental expertise demonstrates a significant individual impact. EMCS is found to play a direct role in reducing greenwashing practices but does not significantly moderate the relationship between corporate governance and greenwashing. These results suggest the presence of decoupling and symbolic compliance, indicating that EMCS has not yet been strategically embedded within the board’s monitoring and decision-making processes. The study highlights the importance of enhancing board ESG competencies, integrating sustainability-based executive remuneration, strengthening EMCS implementation, and improving the quality of external sustainability assurance as effective mechanisms for mitigating greenwashing practices in ASEAN manufacturing firms.
Analysis of Domestic Resources in Robusta Coffee Farming in Pasuruan Regency Using the Domestic Resource Cost (DRC) Approach Putri Nikita Brenadevari; Gyska Indah Harya; Sri Widayanti
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.443

Abstract

Coffee is one of the strategic agricultural commodities that plays a vital role in the Indonesian economy, serving as a source of foreign exchange, a provider of employment, and a source of income for farmers. Pasuruan Regency is one of the major centers for Robusta coffee production in East Java Province and holds significant potential for further development. However, improving the competitiveness of Robusta coffee depends not only on product quality but also on the efficiency of domestic resource use in the production process. This study aims to analyze the efficiency of domestic resource use in Robusta coffee farming in Pasuruan Regency using the Domestic Resource Cost (DRC) approach. The study was conducted in Puspo and Tutur subdistricts, Pasuruan Regency, using purposive sampling. The data used included primary data obtained through interviews and questionnaires administered to Robusta coffee farmers, as well as secondary data from the Central Statistics Agency, the Directorate General of Plantations, and relevant literature. Data analysis utilized the Policy Analysis Matrix (PAM) method, focusing on the Domestic Resource Cost (DRC) indicator. The study results indicate that the DRC value for robusta coffee farming in Pasuruan Regency is 0.050. This value indicates that robusta coffee farming possesses a comparative advantage because the DRC value is < 1, meaning the use of domestic resources is economically efficient. Thus, Robusta coffee in Pasuruan Regency has the potential to be further developed as a leading regional commodity capable of competing in both domestic and international markets.
The Effect of Teaching Quality and Educational Facilities on Student Satisfaction (Case Study at Subulussalam Islamic Boarding School) Abdullah Maududie Maimun; Taryono; Sutrisno
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.453

Abstract

The objective of this research is to investigate the impact of teaching quality and educational facilities on student satisfaction at Subulussalam Islamic Boarding School. This research applies a numerical method with a relational/causal design to test the relationship between independent and dependent variables. Data were collected through the distribution of questionnaires to 72 students as participants using a Likert scale. In addition, observation, documentation, and literature review were carried out to strengthen the research data Data analysis was performed using multiple linear regression analysis in SPSS, starting with validity, reliability, and classical assumption tests. Research findings indicate that teaching quality has a positively and significantly impacts student satisfaction with a significance value of 0.002 < 0.05. Educational facilities also positively and significantly influence student satisfaction with a significance value of 0.001 < 0.05. Teaching quality and educational facilities simultaneously have a significant impact on student satisfaction, indicated with an F-test significance level of 0.000 < 0.05. The determination coefficient analysis shows that these two variables contribute 42.6% to student satisfaction, while the rest 57.4% is impacted by differet factors beyond this research. The findings of this research indicate that improving teaching quality and educational facilities is very crucial in enhancing student contentment and the standard of educational services at Subulussalam Islamic Boarding School.
The Influence of Product Knowledge, Workload, and Work-Life Balance on the Service Performance of Frontliners at PT Bank Tabungan Negara (Persero) Tbk Bali Region Belinda Sylvia Jaya; Trianasari; I Nengah Suarmanayasa
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.474

Abstract

This study aims to analyze the influence of several variables, namely: (1) product knowledge, (2) workload, and (3) work-life balance on the service performance of frontliners at PT Bank Tabungan Negara (Persero) Tbk Bali Region. The population in this study consisted of all frontliners of PT Bank Tabungan Negara (Persero) Tbk Bali Region totaling 68 employees. The sampling technique used in this study was saturated sampling or total sampling, which is a sampling method in which all members of the population are used as research samples. Data in this study were collected through questionnaires and documentation. The data analysis technique used was multiple linear regression analysis with the assistance of SPSS 29 software. The analysis included validity testing, reliability testing, classical assumption testing, partial testing (t-test), simultaneous testing (F-test), and coefficient of determination (R²). The results of the study showed a constant coefficient of 10.470, a Product Knowledge regression coefficient of 0.369, a Workload regression coefficient of -0.181, and a Work-Life Balance regression coefficient of 0.340. The results also showed that product knowledge had a positive and significant effect on frontliner service performance, workload had a negative and significant effect on frontliner service performance, and work-life balance had a positive and significant effect on frontliner service performance. Simultaneously, product knowledge, workload, and work-life balance had a significant effect on the service performance of frontliners at PT Bank Tabungan Negara (Persero) Tbk Bali Region.
Implementation of the Policy for Enhancing the Capability of Government Internal Supervisory Apparatus (APIP) at the Ministry of Population and Family Development/BKKBN Richa Haryanti; Pardamean Daulay; Sait Abdullah
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.488

Abstract

This study examines the implementation of the Government Internal Supervisory Apparatus (APIP) capability enhancement policy at the Ministry of Population and Family Development/National Population and Family Planning Board (Kemendukbangga/BKKBN) under BPKP Regulation No. 6 of 2025. A qualitative approach was employed using interviews, observations, and document reviews. The analysis was guided by George C. Edward III’s policy implementation framework, encompassing communication, resources, disposition, and bureaucratic structure. The findings indicate that policy implementation has generally followed the intended policy direction but has not yet achieved optimal results. Key challenges include limited policy dissemination, inadequate human and financial resources, insufficient supporting facilities, the absence of technical delegation of authority, and the lack of operational standard operating procedures. Conversely, positive commitment from APIP personnel, alignment between national and organizational policies, and the compatibility of APIP functions with policy objectives have supported implementation. This study further demonstrates that APIP capability enhancement is shaped not only by communication, resources, disposition, and bureaucratic structure, but also by the external strategic environment. Accordingly, it proposes an enhanced policy implementation model that extends George C. Edwards III’s framework by integrating empirical evidence from Kemendukbangga/BKKBN and incorporating the external strategic environment as an additional determinant of successful APIP capability enhancement policy implementation.
The Effect of Risk Profile, Company Size, Profitability, Liquidity, and Leverage on Firm Value in Mining Companies Listed on the Indonesia Stock Exchange (IDX) in 2022–2024 Nila Wahyu Maya Lestari; Elen Puspitasari
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.493

Abstract

This study aims to examine the effect of risk profile, firm size, profitability, liquidity, and leverage on firm value in mining companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. The research employed a quantitative approach using secondary data obtained from corporate financial statements. The sample was selected through purposive sampling, resulting in 91 observations. Data were analyzed using multiple linear regression with IBM SPSS version 25. Prior to hypothesis testing, classical assumption tests were conducted, including normality, multicollinearity, autocorrelation, and heteroscedasticity tests. The findings reveal that risk profile has a negative and significant effect on firm value, indicating that higher corporate risk tends to reduce investors’ perceptions of firm value. Leverage has a positive and significant effect on firm value, suggesting that optimal debt utilization can enhance investor confidence and increase firm value. Meanwhile, firm size, profitability, and liquidity do not significantly affect firm value. The simultaneous test results indicate that all independent variables collectively influence firm value. The Adjusted R Square value of 0.116 indicates that the model explains 11.6% of the variation in firm value, while the remaining 88.4% is explained by other factors outside the model. These findings imply that risk management and financing structure play crucial roles in enhancing the value of mining companies.
Determinants of Financial Distress in Food and Beverage Companies Listed on the Indonesian Stock Exchange Ayu Lestari; Ika Yustina Rahmawati
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.499

Abstract

The research investigates the impact of financial ratios and macroeconomic factors on financial distress. Financial ratios are measured by profitability (ROA), liquidity (CR), and leverage (DER). Macroeconomic factors are measured by inflation and interest rates. This analysis uses secondary data from 71 food and beverage companies listed on the Indonesia Stock Exchange for the period 2021–2024, yielding 124 observations tested using descriptive statistics, panel logistic regression, odds ratios, and classification accuracy. Financial distress is measured in terms of the Altman Z-score, followed by hypothesis testing with Stata 17. Findings show a negative effect of profitability and interest rates on financial distress, and a positive effect of leverage. Furthermore, liquidity and inflation are not affecting financial distress. In this study, the novelty comes from utilizing macroeconomic factors as independent variables, thereby provides new insights into the roles of macroeconomics on financial distress.
Analysis of the Income of Rina Bolo-Bolo Innovative Banana Commodity Culinary Business Arina Putri Sabrita A. T; Andi Herman Jaya; Yohan; Ika Rafika; Muhammad Ichsan
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.537

Abstract

This research aims to o analyze the income level and business viability of the “Rina Bolo-Bolo” culinary business in Palu City. The method used is a descriptive approach employing both qualitative and quantitative data collection techniques, including direct observation and documentation of production costs and monthly sales revenue. The results of the study show that the total production costs incurred per month amount to Rp2,925,458, with total revenue reaching Rp6,000,000, resulting in a net income of Rp3,073,542. An R/C Ratio of 2.05 indicates that every rupiah spent generates revenue of Rp2.05, indicating that Rina Bolo’s business is highly viable. Based on these findings, it can be concluded that Rina Bolo-Bolo’s business has very promising prospects and is worthy of development as a highly profitable sustainable micro-enterprise model.
The Effect of Local Original Revenue, General Allocation Funds, and Capital Expenditure on Regional Financial Independence (Case Study of Regency/City on the Coastal Line of Java Island 2020-2024) Aqif Fadil; Purwanto
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.554

Abstract

Regional financial independence is an important indicator of the successful implementation of regional autonomy. However, the level of financial independence in most regencies and municipalities located in the coastal areas of Java remains relatively low due to their high dependence on transfers from the central government. This condition indicates the need to optimize regional revenue sources and manage expenditure effectively in order to strengthen regional fiscal capacity. This study aims to analyze the effects of Local Own-Source Revenue (PAD), the General Allocation Fund (DAU), and Capital Expenditure on Regional Financial Independence in regencies and municipalities located in the coastal areas of Java during the 2020–2024 period, both partially and simultaneously. This study employed a quantitative method with descriptive and verificative approaches. The data used were secondary data obtained from local government financial reports and publications issued by the Directorate General of Fiscal Balance (DJPK). The data were analyzed using panel data regression to examine the relationships between the independent and dependent variables. The results indicate that Local Own-Source Revenue has a positive and significant effect on Regional Financial Independence, whereas the General Allocation Fund has a negative and significant effect. Capital Expenditure has a positive effect on Regional Financial Independence. Simultaneously, PAD, DAU, and Capital Expenditure have a significant effect on Regional Financial Independence. The contribution of this study lies in providing empirical evidence regarding the factors that influence Regional Financial Independence in the coastal areas of Java, which have diverse economic and fiscal characteristics. The findings imply that local governments should optimize PAD, reduce dependence on central government transfers, and allocate Capital Expenditure to productive sectors in order to strengthen fiscal independence and support sustainable regional development.
Persistent Non-Compliance in Construction Contracts: Comparative Insights from Capital Expenditure Audit Findings (2024-2025) Cahyo Sadewo Hutomo; Henryanto Wijaya
Danadyaksa: Post Modern Economy Journal Vol. 4 No. 1 (2026): Post Modern Economy Journal
Publisher : Yayasan Pendidikan Islam Bustanul Ulum Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69965/danadyaksa.v4i1.595

Abstract

This study comparatively analyzes the determinants of non-compliance regarding physical volume shortages in capital expenditure construction contracts for Buildings/Structures and Roads/Networks/Irrigation for the 2024–2025 period in XYZ Regency. Employing a descriptive-comparative qualitative approach, this research integrates Agency Theory and the Theory of Planned Behavior (TPB) utilizing BPK RI audit reports (2025–2026) and SIPD-RI digital transaction logs. The results indicate that externally, contractors (agents) engage in adaptive moral hazard; Building project manipulations focus on spatial dimensions (hidden structure), whereas road projects exploit geographical distance (exposed structure). Internally, mitigation failures stem from officials' (principals') permissive attitude prioritizing formal handover documents (BAST) and curative recovery (STS), exacerbated by the end-of-year backloading effect in SIPD-RI that triggers control overload. This study recommends contract governance reconstruction through procurement scheduling reforms (early bidding), enhanced technical competence, and geospatial-based digital quality control.

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