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Journal of Management Economics and Financial Accounting
Published by CV. Denasya Smart Publisher
ISSN : 31105475     EISSN : 31104924     DOI : https://doi.org/10.69714/745n3k83
Core Subject : Economy,
Economics, Econometrics & Finance
Journal of Management Economics and Financial Accounting (JOMEFA) e-ISSN: 3110-4924, p-ISSN: 3110-5475 is an international journal published by CV. Denasya Smart Publisher. Journal of Management Economics and Financial Accounting (JOMEFA) accepts manuscripts based on empirical research findings, new scientific literature reviews, and comments or critiques on previously published scholarly works. This journal serves as a publication platform and a medium for sharing research and development work in the fields of Management, Economics, and Accounting. Articles published in the Journal of Management Economics and Financial Accounting (JOMEFA) are processed entirely online. Submitted articles will undergo peer review by qualified reviewers. Complete information for article submission and other guidelines is available in each issue. The Journal of Management Economics and Financial Accounting (JOMEFA) is published twice a year, in June and December. However, accepted articles will be placed in the In-Press edition before being officially published in the scheduled issue.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 18 Documents
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Ecological Efficiency, Investment Opportunity Set, and Capital Structure: The Path to Sustainable Financial Performance Salma Aqila; Ana Kadarningsih; Linda Ayu Oktoriza; Fakhmi Zakaria
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/4xfykh77

Abstract

This research is motivated by the dual pressures faced by Indonesia’s energy sector in balancing the acceleration of renewable energy transition with the necessity to sustain solid financial results. This research examines the influence of ecological efficiency, investment opportunity set (IOS), and capital structure on financial performance of energy sector firms listed on the Indonesia Stock Exchange (IDX) during 2022-2024. A quantitative method was applied, using panel data regression on 129 firm-year observations from 43 companies selected through purposive sampling. Based on the Chow test, Hausman test, and Lagrange Multiplier test, the Common Effect Model (CEM) emerged as the most suitable estimation approach. The findings reveal that ecological efficiency does not significantly impact financial performance within the short-term observation window of this study, as its economic benefits follow a lagging effect pattern that has yet to materialize in immediate profitability. In contrast, IOS shows a positive and significant influence on financial performance, indicating that companies with greater investment opportunities allocate resources more effectively to enhance ROA. Capital structure negatively and significantly affect financial performance, suggesting that excessive debt reliance reduces profitability due to higher interest expenses and financial risk. Simultaneously, all variables significantly influence financial performance. The findings conclude that investment decisions and capital structure management are more immediate determinants of short-term financial performance, while ecological efficiency requires a longer time horizon to generate measurable economic value.
NSGA-II Portfolio Optimization: A Comparison of Shariah Stocks (JII70) and Conventional Stocks (LQ45) Delila Nasywa Ramananda; Dwi Eko Waluyo; Ana Kadarningsih; Suhita Whini Setyahuni
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/aqjrqs74

Abstract

This study analyzes and compares the performance of shariah and conventional stock portfolios in the Indonesian capital market using the Non-Dominated Sorting Genetic Algorithm II (NSGA-II) method. The study uses daily closing stock price data from January 3, 2022, to December 30, 2025, which was processed into measures of return and risk as the basis for portfolio construction. Optimization was performed by maximizing expected return and minimizing risk to generate an efficient frontier. Portfolio performance was then evaluated using the Sharpe Ratio, Sortino Ratio, and Omega Ratio. The results show that the shariah stock portfolio outperformed the conventional stock portfolio, as evidenced by a Sharpe Ratio of 0.15 compared to 0.04. Nevertheless, a combination portfolio consisting of shariah stocks and conventional stocks yielded the best overall performance, with a Sharpe Ratio of 0.15, a Sortino Ratio of 0.22, and an Omega Ratio of 1.56. These findings indicate that diversification between shariah and conventional stocks can enhance portfolio efficiency and generate more optimal performance compared to using each group of stocks separately. Thus, the NSGA-II method has proven effective in generating optimal portfolios to support investment decision-making in the Indonesian capital market.
The Role of Credit Risk, Liquidity, and Capital in Influencing Banking Profitability in Indonesia, 2020–2024 Ella Fitriana; Dian Prawitasari; Usman Usman; Fakhmi Zakaria
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/87xfnx60

Abstract

This investigation is intended to evaluate the impact of Credit Quality Ratio (NPL), Funding Utilization Ratio (LDR), and Capital Buffer Indicator (CAR) regarding the earnings capability of banks traded on the Indonesia Stock Exchange within 2020–2024. The investigation utilized an explanatory quantitative design supported by panel data regression techniques. The observed sample included 23 banks determined by purposive sampling, generating 110 research observations. Estimation was performed using the Stochastic Effects Approach (SEA) combined with Estimated Generalized Least Squares (EGLS) and robust standard errors for overcoming heteroscedasticity and autocorrelation problems. Findings reveal that NPL exerts a significant detrimental impact on earnings performance measured through ROA. LDR shows no significant relationship with ROA, suggesting that loan expansion alone cannot directly enhance profitability when credit quality remains insufficient. Conversely, CAR demonstrates a meaningful improvement in ROA, suggesting stronger capital resilience strengthens banks in creating earnings. Collectively, NPL, LDR, and CAR exert a significant influence on profitability, reflected by an Adjusted R-squared of 40.68%. The results suggest that preserving credit quality and reinforcing capital adequacy constitute crucial measures to enhance banking profitability in Indonesia.
The Role Of Influencer Marketing and Brand Image In Forming Skincare Product Purchase Decisions: A Literature Review Study Ana Nur Aeini; Edwin Zusrony; Putri Pratiwi
Journal of Management Economics and Financial Accounting Vol. 1 No. 2 (2025): December : Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/jdmfwr33

Abstract

This research is motivated by the increasing use of social media as a source of consumer information in selecting skincare products. Increasingly fierce competition among skincare brands means that companies cannot rely solely on product quality but also need to build credible digital marketing communications and a strong brand image. This study aims to examine the role of influencer marketing and brand image in shaping skincare product purchasing decisions based on previous research. The method used is a literature review study with a descriptive qualitative approach. The research data comes from eleven national scientific articles relevant to the topics of influencer marketing, brand image, purchase intention, and skincare or cosmetic product purchasing decisions. The articles were analyzed through the stages of identification, selection, content evaluation, grouping of findings, and narrative synthesis. The results of the study indicate that influencer marketing plays a role in attracting attention, building trust, and strengthening consumer purchasing interest through credibility, image congruence, and influencer closeness to the audience. Meanwhile, brand image serves as the basis for consumer confidence in the quality, safety, and reputation of the brand. This study also found that brand trust, online customer reviews, brand awareness, and electronic word of mouth are supporting variables that strengthen purchasing decisions. Thus, influencer marketing and brand image do not work separately, but complement each other in the process of forming skincare product purchasing decisions.
Comparison of Markowitz and Genetic Algorithm Models for Saudi Arabian Stocks Mega Tri Candeni; Dwi Eko Waluyo; Ana Kadarningsih; Yenny Ernitawati
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/z0rwmk14

Abstract

This study aims to compare the Markowitz method and the Genetic Algorithm in forming an optimal portfolio in the Saudi Arabian stock market, which is known to have dynamic characteristics and high levels of volatility due to the influence of economic reforms, oil price fluctuations, and integration with global markets. The study uses daily closing price data for companies indexed in the Tadawul All Share Index for the period January 2, 2022, to October 30, 2025, obtained through Yahoo Finance. Sample selection uses a purposive sampling method based on data completeness and Coefficient of Variation selection. The optimization process is carried out using the Python programming language through the Efficient Frontier Markowitz approach and the Genetic Algorithm. While portfolio performance evaluation is carried out using the Sharpe Ratio, Sortino Ratio, and Omega Ratio to obtain a more comprehensive assessment of risk and return efficiency. The results show that the Markowitz method tends to produce higher expected returns, but with a greater level of risk, while the Genetic Algorithm produces a portfolio with a relatively lower level of risk and more stability. Furthermore, conventional stock portfolios performed better than Islamic stock portfolios based on the performance ratio evalu-ation used. This finding suggests that portfolio optimization methods should be tailored to investor risk preferences and the characteristics of the investment market.
The Influence of Compensation and Work Motivation on Teacher Performance with Work Quality as an Intervening Variable in Vocational High Schools across Grogol Petamburan District, West Jakarta khairani khairani; Corry Yohana; Christian Wiradendi Wolor
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/3z4yak08

Abstract

This study aims to analyze the effect of compensation and work motivation on teacher performance with work quality as an intervening variable among vocational high schools (SMKs) in Grogol Petamburan District, West Jakarta. This study employed a quantitative approach with a causal associative research design. The population consisted of 304 teachers from 15 vocational high schools, with a sample of 173 respondents determined using the Yamane formula with a 5% margin of error and proportionate random sampling. Data were collected through questionnaires using a Likert scale and analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with SmartPLS 3. The results showed that compensation had a positive and significant effect on teacher performance, work quality, and teacher performance through work quality as an intervening variable. Work motivation also had a positive and significant effect on teacher performance and work quality, as well as a positive and significant indirect effect on teacher performance through work quality as an intervening variable. The strongest direct effect was found in the relationship between work quality and teacher performance, with a path coefficient of 0.803. These findings indicate that improving teacher performance is influenced not only by compensation and work motivation directly but also through the improvement of work quality as an important mechanism in enhancing teacher performance.
The Influence of Workload and Work Environment on Turnover Intention: The Intervening Role of Burnout: (Case Study: Employees of PT Global Yimi Cargo, Bekasi Branch) Meyyfa Nuri Yanti; Corry Yohana; Christian Wiradendi Wolor
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/q11kbs40

Abstract

This study aims to examine the effects of workload and work environment on turnover intention, with burnout serving as an intervening variable among employees of PT Global Yimi Cargo Bekasi Branch. A quantitative approach with a survey method was employed. The population consisted of 149 employees, selected using the proportionate stratified random sampling technique. Data were collected through questionnaires using a five-point Likert scale and analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with SmartPLS 4.0. The results indicate that workload has a positive and significant effect on burnout and turnover intention, while work environment has a negative and significant effect on burnout and turnover intention. In addition, burnout has a positive and significant effect on turnover intention. Burnout was also found to partially mediate the effects of workload and work environment on turnover intention. The coefficient of determination shows that workload and work environment explain 54.9% of the variance in burnout, while workload, work environment, and burnout explain 48.4% of the variance in turnover intention. These findings support the Job Demands-Resources (JD-R) Theory, suggesting that high job demands and inadequate job resources increase employee burnout, which subsequently leads to higher turnover intention.
The Effect of Organizational Culture and Self-Efficacy on Job Performance with Organizational Commitment as a Mediating Variable: A Study on Employees of PD X Jakarta Dea Putri Nabilla; Corry Yohana; Christian Wiradendi Wolor
Journal of Management Economics and Financial Accounting Vol. 2 No. 1 (2026): June: Journal of Management Economics and Financial Accounting (JOMEFA)
Publisher : Denasya Smart Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69714/9re8h555

Abstract

This study aims to analyze the direct and indirect effects of organizational culture and self-efficacy on job performance, with organizational commitment serving as a mediating variable among employees at PD X Jakarta. A quantitative approach with a cross-sectional design was employed. The population comprised 200 employees, all of whom participated as respondents through a saturated sampling technique. Data were gathered using a structured questionnaire with a five-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4.0 software. The findings indicate that organizational culture has a positive and significant effect on job performance, with a path coefficient of 0.376, while self-efficacy also has a positive and significant effect on job performance, with a coefficient of 0.355. Furthermore, organizational culture positively and significantly influences organizational commitment (β = 0.585), and self-efficacy positively and significantly affects organizational commitment (β = 0.405). Additionally, organizational commitment exerts a positive and significant effect on job performance (β = 0.365). Indirect effect testing reveals that organizational commitment significantly mediates the relationship between organizational culture and job performance (β = 0.214), as well as between self-efficacy and job performance (β = 0.148), both exhibiting complementary partial mediation. The research model demonstrates strong explanatory power for job performance, with an R² value of 0.661, and moderate explanatory power for organizational commitment, with an R² value of 0.502. These findings emphasize that enhancing employee job performance requires an integrated human resource management strategy that strengthens organizational culture, fosters self-efficacy, and builds organizational commitment. Moreover, the SRMR value of 0.042 indicates an excellent model fit, confirming that the model possesses robust predictive quality in explaining variations in actual employee performance.

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