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Journal of Finance Integration and Business Independence
Published by YAYASAN BINA BISNIS NUSANTARA MEDAN
ISSN : 30902746     EISSN : 30902746     DOI : https://doi.org/10.64276/jofibi.v1i1
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Journal of Finance Integration and Business Independence (JoFIBI) is an interdisciplinary academic publication that bridges the domains of finance, economics, and business management. The journal serves as a vital platform for researchers, policymakers, and practitioners to explore the intricate dynamics between global financial integration and the ability of businesses to maintain strategic autonomy and operational resilience. JoFIBI publishes two issues a year in May and November. In today’s interconnected global economy, financial systems are becoming increasingly interdependent, driven by technological advancements, international trade, and cross-border investment flows. Simultaneously, businesses face growing pressure to innovate and adapt while safeguarding their independence in decision-making, risk management, and competitive positioning. This journal is dedicated to examining the convergence of these two trends and uncovering solutions to the challenges they present. Focus and Scope: The journal encourages submissions from interdisciplinary perspectives, emphasizing empirical, theoretical, and policy-driven research. 1. Finance Integration: - Global Financial Systems: Research on the integration of financial markets, institutions, and instruments across borders. - Trade and Investment Flows: Studies on cross-border investments, trade partnerships, and their impacts on national and regional economies. - Financial Inclusion: Analysis of initiatives to bridge economic disparities through integrated financial solutions. - Technological Impact: The role of emerging technologies, such as fintech and blockchain, in facilitating seamless financial interactions globally. - Islamic Finance - Financial Behaviors 2. Business Independence: - Resilience in Globalized Markets: Strategies for maintaining business autonomy amidst global financial convergence. - Risk Management: Evaluating risks associated with dependence on global financial systems and developing mitigation strategies. - Innovation and Competitiveness: Research on how businesses innovate to maintain independence in integrated markets. - Governance and Leadership: Exploring leadership and decision-making approaches that reinforce operational self-reliance - Small and Medium Businesses 3. Socioeconomic and Environmental Perspectives: - Social Impacts: The role of finance and business strategies in addressing societal challenges like inequality and access to resources. - Sustainability: Integration of environmental considerations in financial systems and business practices
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 17 Documents
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The Impact of Unidentified Consumer Transfers on Accounts Receivable Reconciliation Accuracy in the Digital Era: A Case Study Meysia Amalia; Zahri Fadli; Nasution, Minasari
Journal of Finance Integration and Business Independence Vol. 1 No. 2 (2025): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v1i2.38

Abstract

This study aims to determine the impact of unidentified consumer transfers on the accuracy of accounts receivable reconciliation in the digital financial system at PT Cakrawala Citramega Multifinance. This phenomenon arises when consumers make bank transfers without including adequate information, such as contract numbers or names that match the system records. The research method used is descriptive qualitative, with data collected through observation, interviews, and documentation. The results indicate that unidentified transfers delay the reconciliation process because payments cannot be automatically matched with the consumers’ receivable accounts. This leads to delays in financial reporting and a higher risk of recording errors. Time-consuming clarifications and high transaction volumes are also major challenges. Therefore, improvements in transaction identification systems and consumer education are needed so that payment information can be recognized more accurately.
Shariah-Based Ethical Frameworks and Their Role in Shap-ing Islamic Finance in Asia: A Systematic Literature Review Nurul Syafiqah Azman; Affendy Abu Hassim; Said Nasser Al-Amrani; Nasib, Nasib; Fathoni, Muhammad
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v2i1.87

Abstract

The purpose of this research is to examine the role played by regional ethical codes in Islamic banking's development, adoption and the integration of this financial system at the international level. A comprehensive review of the last 6 years' research in the field is given, covering 86 academic papers from 2020 to 2025. The PRISMA methodology is applied in order to identify, appraise and merge the findings from the studies in areas like ethical and cultural values, Shariah compliance, governance, and socio-economic goals. In fact, research shows that regional ethical frameworks are crucial in ensuring that Islamic financial services are truly ethical and in addition are a key factor in differentiating Islamic financial services from conventional ones within the global marketplace. In the integration of Islamic finance with global norms there are a number of challenges, including the integration of Islamic finance with community-based ethics, the need to harmonise Islamic law with transnational financial dealings and the impact of technological advancements such as the development of financial services companies (fintech). The key theme in this study is the integration of Islamic financial practices with the values of their community, the strategies employed by financial institutions to reconcile local Shariah law with international finance systems, and the role of ethical governance in establishing trust and promoting economic growth. In light of these implications, it is essential that regulatory agencies, industry leaders and government officials work towards ensuring international business practices align with local standards of ethics. Further research is required in such areas as the implications of sustainable finance for conventional financial structures, digitalisation and its impact on the role of the business community and the finance industry, and in cross border issues of ethics.
Optimizing Msme-Based Financial Information Through Qris Synergy and HR Competence Wenny A. Ginting; Shane A. Pangemanan; Siti Aisyah Nasution
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v2i1.88

Abstract

This study analyzes the influence of QRIS adoption and human resource (HR) competence on the financial quality of UMKM in Manado City. Using a quantitative approach with survey data from 125 UMKM in the restaurant sector collected through a census method, multiple regression analysis was conducted. The results indicate that QRIS adoption has a positive and significant impact on financial quality, as it improves transaction management, cash flow, and the accuracy of financial reporting. This supports the Technology Acceptance Model (TAM), which emphasizes perceived usefulness and ease of use in technology adoption. HR competence also shows a positive and significant effect, consistent with the human capital theory, which highlights the importance of skilled HR in improving performance. Together, QRIS and HR competence significantly affect financial quality with an R² of 0.592. The findings suggest that combining digital adoption and HR competence is more effective than each factor alone, with implications for practice, theory, and policy in strengthening UMKM financial sustainability.
Enterprise Risk Management, Capital Structure, Financial Performance, and Firm Value Fajaryati, Hijroini; Ridwan Nurazi; Rini Andriani; Fadli
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v2i1.89

Abstract

This study analyzes the influence of Enterprise Risk Management (ERM) on capital structure, financial performance, and firm value in banking companies listed on the Indonesia Stock Exchange during 2017–2024. Using a quantitative approach, this study employs secondary data from annual reports, financial statements, IDX publications, OJK reports, and Bank Indonesia reports. Data were analyzed using Generalized Structured Component Analysis (GSCA) to test direct, indirect, and mediating effects. ERM is measured using a COSO-based disclosure index, capital structure is measured by DER and DAR, financial performance by ROA, ROE, and NIM, and firm value by Tobin’s Q. The results show that ERM has a positive and significant effect on capital structure, financial performance, and firm value. Capital structure negatively affects firm value, while financial performance does not significantly affect firm value. These findings indicate that ERM functions as a strategic value driver that strengthens risk governance, capital planning, and market confidence in Indonesian banking.
When Digital Finance Is Not Enough: Digital Capability and MSME Business Resilience Rafida Khairani; Herlin Munthe; Chaniago, Sabaruddin; Cici Handayani
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study examines the impact of accounting knowledge and taxpayer attitudes on tax compliance among Small and Medium Enterprises (SMEs) in North Medan. Using a quantitative approach, data were collected through surveys distributed to SME owners and managers who are directly involved in financial decision-making. The study found that both accounting knowledge and positive taxpayer attitudes significantly influence tax compliance. Accounting knowledge enables business owners to understand tax obligations and manage financial records accurately, leading to improved compliance. Meanwhile, taxpayer attitudes, such as the perception of fairness and trust in the tax system, also play a crucial role in determining the level of compliance. The results suggest that enhancing accounting education and fostering positive attitudes toward taxation could improve tax compliance in the SME sector. This research provides valuable insights for policymakers and tax authorities aiming to promote compliance through targeted educational programs and awareness campaigns.
Determinants of SME Tax Compliance: The Role of Accounting Knowledge and Taxpayer Attitudes Tisha Alfira; Ezra Ivana Cecilia; Yanti Br Siregar; Annisa Nauli Sinaga; Yanson Pane
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v2i1.91

Abstract

This study examines to analyze the effect of accounting conservatism, sales growth, thin capitalization, transfer pricing, and financial distress on tax avoidance in energy sector companies listed on the Indonesia Stock Exchange (IDX). This research employs a quantitative approach using secondary data obtained from companies’ financial statements and annual reports. The population consists of all energy sector companies listed on the IDX, with purposive sampling used to select 23 companies as research samples, resulting in a total of 69 observations. The data were analyzed using multiple linear regression analysis, preceded by classical assumption tests including normality, multicollinearity, autocorrelation, and heteroscedasticity tests. The results indicate that accounting conservatism, sales growth, thin capitalization, transfer pricing, and financial distress simultaneously affect tax avoidance. Partially, transfer pricing and financial distress have a positive and significant effect on tax avoidance, while accounting conservatism, sales growth, and thin capitalization do not have a significant effect on tax avoidance in energy sector companies listed on the Indonesia Stock Exchange
The Effectiveness of Quick Response Code Indonesian Standard (QRIS) in Increasing MSME Transactions at Car Free Day in Merdeka Square, Medan Windi Ayuni, Tyus; Ibrahim Mallam Fali; Rahima Br Purba; Amin Hou; Adi Harianto
Journal of Finance Integration and Business Independence Vol. 2 No. 1 (2026): Journal of Finance Integration and Business Independence
Publisher : YAYASAN BINA BISNIS NUSANTARA MEDAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64276/jofibi.v2i1.95

Abstract

This study aims to analyze the effectiveness of the use of the Quick Response Code Indonesian Standard (QRIS) in creasing MSME transactions at Car Free Day in Lapangan Merdekea, Medan City. The independent variables in this study are the ease use of QRIS and trust in the use of QRIS, while the dependent variable is the increase in MSME transactions. This study is motivated by the development of digital technology, which has encouraged the transformation of non-cash payment systems in the MSME sector. Although QRIS has been widely adopted, several obstacles still exist, such as limited techonological understanding and low levels of trust in digital payment systems. This study employed a quantitative research method with an associative approach. The population consisted of all culinary business actors at Car Free Day in Lapangan Merdeka, Medan City. The sampling technique used purposive sampling with a total 45 respondents. Data were collected through questionnaires and analyzed using Structural Equation Modelling (SEM) based on Smart PLS. the results indicate that the ease of use of QRIS has a positive and significant effect on increasing MSME transactions, with a path coefficient value of 0.612 an a p-value of 0.000. trust in the use of QRIS also has a positive and significant effect on increasing MSME transactions, with a path coefficient value of 0.684 and a p-value of 0.000. Furthermore, the ease of use and trust in the use of QRIS simultaneously enhance the effectiveness of MSME transactions at Car Free Day in Lapangan Merdeka, Medan City. This study shows that the ease of use and trust in QRIS are important factors in increasing the adoption of digital payments among MSMEs. The use of QRIS provides convenience, security, transcation efficiency and supports the digital transformarion of MSMEs in the digital economy era.

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