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Nomico
Published by PT Anagata Sembagi Education
ISSN : -     EISSN : 30466318     DOI : https://doi.org/10.62872/apwm7d39
Core Subject : Economy,
Economics, Econometrics & Finance
The journal publishes original articles on current issues and trends occurring internationally in accounting, financial accounting, public sector accounting, auditing, economics, economics education, development economics, economic statistics, monetary economics, international economics, microeconomics, macroeconomics, econometrics, public economics, economic sociology.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 255 Documents
 22   23   24   25   26 
Carbon Accounting from a Modern Accounting Perspective: Challenges and Implementation Deny Purwo Sambodo
Nomico Vol. 3 No. 5 (2026): Nomico-June
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/5z6yy690

Abstract

Carbon accounting has emerged as a critical dimension of modern accounting practice, yet its integration into mainstream financial reporting remains fragmented and contested. This article examines carbon accounting through the lens of contemporary accounting theory, exploring the conceptual foundations, key challenges, and practical implementation strategies encountered by organisations across diverse regulatory and economic contexts. Employing a systematic literature review methodology, this study synthesises evidence from 25 peer-reviewed studies published between 2021 and 2026 to identify prevailing trends, persistent gaps, and strategic opportunities in the field. The findings reveal that while the Greenhouse Gas (GHG) Protocol and emerging frameworks such as the International Sustainability Standards Board (ISSB) IFRS S1/S2 have advanced standardisation efforts, significant challenges remain in boundary delineation, Scope 3 reporting completeness, technological readiness, and ethical compliance. Crucially, most organisations treat carbon accounting as a compliance exercise rather than a strategic management tool, limiting its potential to drive genuine decarbonisation. This article contributes a novel integrative framework that maps accounting challenges onto implementation strategies, offering actionable guidance for practitioners, standard-setters, and policymakers committed to embedding carbon accountability within the architecture of modern accounting.
Fiqh Muamalah and Sharia Marketing Strategy: Value Integration for Optimizing Emotional and Commercial Markets Islamic Banking in Indonesian Tentiyo Suharto; Sukiman Sukiman; Maryam Batubara
Nomico Vol. 3 No. 5 (2026): Nomico-June
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/2bv7nz67

Abstract

This study aims to analyze problems and formulate a sharia marketing strategy for Islamic banking in Indonesia, integrating the emotional (religious-spiritual) and commercial (rational-economic) markets based on the perspective of maqasid al-sharia. The background of the study indicates that although the Islamic banking industry has experienced significant growth, its market share remains relatively low due to the suboptimal integration of sharia compliance, modern marketing values, and digital transformation. This study uses a mixed methods approach supported by the Analytic Network Process (ANP) to determine the most relevant and beneficial marketing strategy priorities. The results indicate that an effective sharia marketing strategy must combine the emotional dimensions of trust, blessings, and sharia compliance with the commercial dimensions of efficiency, service quality, product innovation, and competitiveness. The main findings revealed that digital marketing and social media optimization are the highest priority strategies, followed by partnerships in the commercial market segment, utilization of sharia fintech, optimization of contracts in sharia banking fiqh, partnerships in the emotional market segment, and community-based or people-based marketing programs. This integration of emotional and commercial markets confirms that Sharia marketing is not simply a business instrument, but rather a muamalah practice oriented toward the realization of the maqasid al-Shariah, specifically the protection of religion (hifz al-din) and the protection of property (hifz al-mal). Therefore, marketing activities are not exploitative, but rather promote public or customer trust, financial inclusion, and the ethical and competitive sustainability of Sharia banking.
The Impact of Dynamic Capabilities on Innovation and Performance of Culinary Creative Enterprises Hatidja; Bahtiar; Jamaluddin; Asriani
Nomico Vol. 3 No. 5 (2026): Nomico-June
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/w3f9p265

Abstract

The culinary creative industry is one of the most dynamic and competitive subsectors of the creative economy, particularly in developing economies such as Indonesia. This study examines the impact of dynamic capabilities on innovation and business performance among culinary creative enterprises. Using a quantitative approach with Structural Equation Modeling-Partial Least Squares (SEM-PLS), data were collected from 203 owners and managers of culinary micro, small, and medium enterprises (MSMEs) in Central Java through purposive sampling. Dynamic capabilities were operationalized through three dimensions: sensing, seizing, and reconfiguring. The findings reveal that dynamic capabilities positively and significantly influence innovation (path coefficient = 0.487, p < 0.001) and business performance (path coefficient = 0.312, p < 0.001). Innovation also significantly mediates the relationship between dynamic capabilities and business performance (path coefficient = 0.206, p < 0.001), confirming a partial mediation effect. These results underscore the critical role of cultivating adaptive organizational capabilities as a competitive lever in volatile markets. The study contributes novel empirical evidence from the culinary creative economy context, bridging gaps between dynamic capability theory and creative industry performance in an emerging market setting.
SBSC and Digital Capabilities: The Key to Sustainable Performance of MSMEs (A Systematic Literature Review) Asri Usman; Mediaty; Neysa A. Siagian; Muh. Adnan. A; Mauizhatul Hasanah Muis
Nomico Vol. 3 No. 5 (2026): Nomico-June
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/225x1p43

Abstract

This study aims to map the current literature landscape, identify scientific consensus, and identify theoretical and methodological gaps in the implementation of SBSC and digital technology in MSMEs. This study applies the Systematic Literature Review (SLR) method based on the PRISMA protocol. Secondary data were sourced from the Scopus database using a specific query with inclusion criteria: scientific journal articles, open access, in English, and published between 2020 and 2026. Based on strict screening, nine primary studies were selected for in-depth analysis. The findings demonstrate a consensus that the BSC/SBSC framework is highly adaptive for MSMEs to synergize non-financial aspects with long-term strategies. Information technology (IT) capabilities, CEO digital leadership, and the integration of Artificial Intelligence (AI) have been empirically proven to improve operational efficiency and organizational knowledge absorptive capacity. However, formal sustainability reporting (such as the GRI standards) is often considered too complex and expensive for micro-scale businesses. A research gap was detected due to the dominance of cross-sectional designs and the minimal exploration of Legitimacy Theory related to non-market social motives. This research responds to this gap by integrating Legitimacy Theory into the SBSC architecture, proposing a simplification of sustainability indicators for micro-administrative capacity, and encouraging a shift in research focus towards a longitudinal approach in the digital service MSME sector.
Analysis of Liquidity, Solvability, and Profitability Levels as a Tool for Assessing the Financial Performance of PT. Megapower Makmur TBK Ainur Rahmah Julista; Apriliana Apriliana; Dian Pratika Sari; Herlin Febrian; Jini Liana; Windi Windi; Herayati Herayati
Nomico Vol. 3 No. 5 (2026): Nomico-June
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/d7xv1g08

Abstract

  This study aims to evaluate the financial performance of PT Megapower Makmur Tbk. (MPOW) in the 2022–2024 period using Liquidity ratio analysis (Current Ratio and Quick Ratio), Solvency (Debt to Asset Ratio and Debt to Equity Ratio), and Profitability (Return on Assets and Return on Equity). The method applied is descriptive quantitative, utilizing secondary data from the IDX Financial Report. The results show that the company's liquidity level is in poor condition, because current assets are insufficient to meet its short-term liabilities (CR and QR are far below the industry standard of 200% and 100%). In terms of solvency, the company shows a continuous improvement trend with a decrease in DAR and DER values, indicating that dependence on debt is decreasing. Meanwhile, profitability performance continues to show poor results, with net income remaining negative from 2022 to 2024. Therefore, management is advised to restructure short-term debt and evaluate operational cost efficiency to restore profitability.
The Invisible Economy: Personal Data as a New Commodity in the Digital Economy Oli Gretia Nitsae
Nomico Vol. 3 No. 6 (2026): Nomico - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/vx3bxg39

Abstract

The digital economy has quietly transformed personal information into one of its most valuable, yet least visible, commodities. This article examines how personal data is extracted, valued, and exchanged within contemporary digital markets, framing this phenomenon as an "invisible economy" that operates behind ostensibly free services. Using a systematic narrative literature review of thirty-four peer-reviewed articles published between 2021 and 2026, drawn from Scopus-indexed and Google Scholar-accessible journals, the study synthesizes economic, legal, and sociological perspectives on data commodification. The review identifies five recurring themes: data as an economic asset, personal data markets and monetization mechanisms, platform power and surveillance capitalism, regulatory and privacy tensions, and the differentiated exposure of vulnerable groups such as children and gig workers. The novelty of this study lies in integrating fragmented disciplinary discussions into a single analytical framework that traces the full value chain of personal data, from collection to monetization to regulatory contestation. Findings indicate that despite regulatory advances such as GDPR-inspired frameworks, information asymmetry between platforms and users persists, reinforcing structural power imbalances. The article concludes that personal data functions as a pseudo-commodity whose valuation remains opaque, calling for stronger data governance, algorithmic transparency, and equitable value-sharing mechanisms in the digital economy.
Financial Health Analysis and Indications of Going Concern at PT Acset Indonusa TBK in 2025 Amrulloh Ghofilin Priyanto; Hasbi Albatsyah; Muhammad Najib; Nicolas Leonil; Sigit Purwanto; Herayati Herayati
Nomico Vol. 3 No. 6 (2026): Nomico - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/tzj2wg33

Abstract

This study aims to evaluate the financial health and identify the potential for going concern at PT Acset Indonusa Tbk based on the audited consolidated financial statements for the 2024–2025 period. The analysis was conducted using financial ratios covering liquidity, solvency, and profitability, then supplemented with the Altman Z-Score and Springate S-Score financial distress prediction models. The results show that the company still faces significant financial pressure, characterized by equity deficiencies, large net losses, negative operating cash flow, and violations of loan covenants. The Altman Z-Score and Springate S-Score calculations also place the company in the distress category, indicating a high risk to business continuity. These findings align with management's disclosure of material uncertainty regarding the company's ability to continue as a going concern, despite financial support from the parent entity. This study confirms that an unmodified audit opinion accompanied by an emphasis of matter paragraph does not always reflect a healthy financial condition. Therefore, investors, creditors, and other users of financial statements need to conduct a thorough evaluation, including reviewing the notes to the financial statements and key financial indicators, before making economic decisions.           
Financial Performance Analysis of PT Mayora Indah TBK 2021–2025 Period: Profitability, Solvency, and Liquidity Ratio Approach Aprilia Eka Saputri; Ani Septiani; Anggi Mailani; Malika Saufura; Yernita Bago; Indriyani Aprilia Setiawan; Heriyati Heriyati
Nomico Vol. 3 No. 6 (2026): Nomico - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/wvq40w96

Abstract

This study aims to analyze the financial performance of PT Mayora Indah Tbk (IDX: MYOR) during the 2021–2025 period using a financial ratio analysis approach that includes profitability ratios (ROA and ROE), solvency ratios (DAR and DER), and liquidity ratios (Current Ratio and Quick Ratio). Data are sourced from audited annual financial reports published on the Indonesia Stock Exchange. The analysis results show that the company's financial performance peaked in 2023 with an ROA of 13.59%, an ROE of 21.23%, a Current Ratio of 3.67 times, and a DER of 0.56 times, driven by post-pandemic economic recovery and raw material cost efficiency. Despite normalization in 2024–2025, all financial ratio indicators remained within a healthy range and above the consumer goods industry standard. The company's capital structure proved conservative with a DAR consistently below 43% and a DER below 0.75 throughout the observation period. This study concludes that PT Mayora Indah Tbk has strong financial fundamentals and is able to manage external challenges effectively.   
Financial Ratio Analysis in Assessing the Financial Performance of PT Kalbe Farma TBK for The Period 2021–2025 Alfia Rosalinda; Fina Aulia; Milenia Hikmatu Syifa; Siti Robiatul Hadawiyah; Fadia Maulida; Herayati Herayati
Nomico Vol. 3 No. 6 (2026): Nomico - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/vmcper30

Abstract

This study aims to analyze the financial performance of PT Kalbe Farma Tbk. during the 2021–2025 period through liquidity, solvency, and profitability ratios. The study uses a quantitative descriptive method utilizing secondary data in the form of annual financial reports published on the Indonesia Stock Exchange. The analysis was conducted using the Current Ratio (CR), Quick Ratio (QR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Return on Equity (ROE). The results show that PT Kalbe Farma Tbk. has a strong and stable financial condition. The average CR value of 414.0%, QR 254.4%, DAR 17.30%, DER 20.97%, ROA 11.60%, and ROE 14.05% reflects excellent liquidity, low debt levels, and the ability to generate consistent profits. Despite a decline in profitability in 2023, the company managed to recover in 2024–2025. These findings demonstrate the company's resilience in navigating economic dynamics in the post-COVID-19 pandemic era. This research is expected to serve as a reference for management, investors, and creditors in decision-making, while also enriching studies on the financial performance of pharmaceutical companies in Indonesia.                 
Cognitive Bias and the Quality of Managerial Strategic Decision-Making Senior PTPN VI in Jambi Province: An Experimental Study of Overconfidence and Anchoring Effect in FFB Price Decisions and Plantation Expansion Rodiana Rodiana
Nomico Vol. 3 No. 6 (2026): Nomico - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/6xkbyg02

Abstract

The quality of strategic decision-making is one of the factors that determines an organization's success in facing a dynamic and uncertain business environment. In the palm oil plantation industry, decisions regarding Fresh Fruit Bunch (FFB) pricing and plantation expansion are often influenced by various economic, regulatory, and managerial factors.PTPN VI manages more than 80,000 hectares of oil palm and rubber plantations and partners with thousands of smallholders, operating in an increasingly complex environment due to global CPO price volatility and regulatory pressures from the EU Deforestation Regulation (EUDR) 2023. The study used a mixed-methods design with a sequential explanatory approach, involving 60 senior managers from five units and divisions of PTPN VI Jambi through a decision scenario experiment based on actual data for the 2019-2024 period and a qualitative think-aloud protocol. Five hypotheses were formulated to test: (1) the effect of overconfidence on projection accuracy; (2) the effect of the anchoring effect on the quality of investment decisions; (3) the moderating role of cognitive diversity in the top management team (TMT); (4) the conditions for moderation effectiveness; and (5) the effectiveness of the behavioral debiasing protocol. The results are expected to produce a specific cognitive bias profile, empirical evidence of TMT moderation, and a contextual debiasing protocol that can be immediately implemented in the RKAP cycle and PTPN VI strategic meetings

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