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Yuni Rimawati
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Infestasi
Published by Universitas Trunojoyo Madura
ISSN : 02169517     EISSN : 24608505     DOI : doi.org/10.21107/infestasi
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 299 Documents
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Is Tax the Same as Zakat? A Netnographic Study of Public Perceptions on TikTok Pasolo, Muhammad Ridhwansyah; Pasolo, Fahrudin
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.32240

Abstract

Social media platforms in Indonesia, a country with a large Muslim population, have become important spaces for public debate on the relationship between religion and government policy. This study examines public reactions to a statement by the Minister of Finance that framed tax payments as comparable to Islamic zakat obligations, using a qualitative netnographic approach to analyze 29,014 comments from viral TikTok post by a news outlet. The analysis explores how digital publics interpret fiscal claims through moral and religious reasoning, express dissent, and assess governmental legitimacy. Grounded theory inspired coding identifies three dominant patterns: emotional resistance expressed through humor and outrage; moral and religious contestation emphasizing the distinction between sacred obligations and civic duties; and socioeconomic distrust linked to perceptions of inequality and corruption. These reactions indicate a crisis of fiscal legitimacy in the digital sphere, driven by a mismatch between state communication and deeply held public values. The findings suggest that effective fiscal governance requires transparent and value sensitive communication that respects religious boundaries rather than asserting equivalence. This study contributes to debates on legitimacy and moral economy in digital contexts and offers practical insights for improving public finance communication in religiously diverse societies.
Sharia Enterprise Based Control Management and Cultural Control in an Islamic Boarding School Rahmatika, Armizha; Nafidah, Lina Nasehatun
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.32279

Abstract

This study aims to assess the revitalization of the management systems of Islamic educational institutions, particularly Islamic boarding schools (Tebuireng), focusing on modernization and declining student numbers. This research is unique in its creation of an internal control system based on the principle of amanah (trust) from Sharia Enterprise Theory (SET), the tension between traditional controls (constraining) and the necessity for adaptive innovation (enabling) is addressed in this research. The outcomes demonstrate that the management system was successfully revitalized by utilizing the amanah principle as a philosophical and practical approach.  This principle instills a direct system of accountability that includes God (the hablunminallah) and people (the hablunminannas), such as parents and donors.  Implementation of strategies involves utilizing diagnostic tools to recognize problems like old buildings) and interactive tools to implement new plans, such as the "Sak Ambané Santri Siji" program for improving infrastructure and the utilization of information systems based on computers for academic endeavors and finances.  As such, the number of students increased significantly, which increased the school's popularity and maintained its status. This approach fosters collaborative and participatory systemic oversight through dialogue.
Bank Efficiency and Risk-Taking: The Role of Revenue Differentiation Nugroho, Dwiyanjana Santyo; Aji, Tri Susilo Wahyu
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.32095

Abstract

Intense competitive pressures, including from fintech players, are suppressing banks' profit margins, which can encourage excessive risk-taking behavior that aligns with the Competition-Fragility Theory's premise. Therefore, the urgency of this study is to analyze how the bank's internal strategies—particularly cost efficiency and risk mitigation strategies in the form of income diversification—work to influence banks' risk-taking decisions. This study specifically examined the relationship and the role of income diversification moderation. This research method uses a quantitative approach with panel data from banks listed on the Indonesia Stock Exchange (IDX) in the 2020-2024 period, by applying purposive sampling as a sample criterion. Cost efficiency was measured using Stochastic Frontier Analysis (SFA), while the relationship between variables was analyzed through multiple linear regression analysis and Interaction Test, with dependent variables in the form of Z-scores. The findings show that cost efficiency has a significant negative influence on bank performance, reflecting more cautious risk-taking. However, income diversification has been shown to moderate such negative influences, allowing banks to take on greater risk without sacrificing financial stability. These findings suggest that a cost-efficiency strategy balanced with revenue diversification can optimize bank growth while maintaining a balance between risk and stability.
Author Index & Reviewer Page, Back
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.33552

Abstract

Government Accounting Standards Compliance on Financial Reporting Quality in Regional Public Service Agencies Yasifa, Nurisnaini; Muhsyaf, Saipul Arni
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.32094

Abstract

This study examines the effect of compliance with Government Regulation (PP) No. 71 0f 2010 on the financial reporting quality of Regional Public Service Agencies (BLUD) in health centers and hospitals in Bima Regency. The research employs a quantitative explanatory approach, using purposive sampling to survey 88 BLUD employees involved in financial reporting. We analyzed the data using simple linear regression via SPSS 23. Compliance with Government Regulation (PP) No. 71 of 2010 significantly positively influences financial reporting quality, explaining 63.9% of its variance. Transparency was identified as an aspect needing improvement. This study provides empirical evidence from an under-researched Eastern Indonesian context, bridging the gap between institutional theory and public sector accounting practices. It uniquely combines implementing accrual-based accounting reforms.  BLUD should enhance transparency and conduct regular internal evaluations to ensure consistent compliance. Policymakers can use these findings to strengthen regulatory frameworks for public sector accountability. Future studies should incorporate additional variables like human resource competence and information technology to explain the remaining 36.1% variance in financial reporting quality.
Detecting of Fraudelent Financial Report: Perspective F Score Modeling Himmah, Elok Faiqoh; Nugraha, Albi; Putri, Anike; Nadiyah Rahmani, Annisa
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.32246

Abstract

This study aims to detect fraud in financial statements using the F Score model and hexagon fraud determinants. These six proxies are used in the research model to analyse and detect possible fraudulent financial reporting in companies based on financial stability; capability, which is formed by changes in the board of directors; collusion, which is formed by the company's involvement in government projects; opportunity, which is formed by the nature of the industry; rationalisation, which is formed by changes in auditors; and ego, which is formed by the frequent appearance of the CEO's photo. The study approach is descriptive quantitative. The sampling technique is non-probability sampling using the purposive sampling method. This study involved a sample size of 30 companies, which collectively provided 150 annual reports. The data analysis method used is panel data regression analysis using Eviews software version 13. The results show that four of the six hexagonal fraud components significantly influence the potential for misleading financial reporting. Meanwhile, collusion, proxied by company involvement in government projects, and opportunity, proxied by industry nature, do not influence the likelihood of misleading financial reporting.
Sociopreneurship and the Business Model Canvas in Community Based Agrosilvopastoral Enterprises Agustino, Muhammad Rizqi; Nurul Cahyanto, Sulistiyo
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.33424

Abstract

This study aims to develop a sociopreneur-based business model using the Business Model Canvas (BMC) framework integrated with the Triple Bottom Line (TBL) perspective in an agrosilvopastoral livestock enterprise. A qualitative case study was conducted at the Srono Makmur Livestock Group, a community-based goat farming group combining agriculture, forestry, and livestock systems. Data were collected through in-depth interviews with one group leader and fifteen members and analyzed using thematic analysis. The findings reveal that the enterprise’s sustainability is strongly rooted in collective social values such as togetherness, shared responsibility, active member involvement, and collective impact. These values function as social capital that strengthens cooperation and community empowerment (people dimension). The agrosilvopastoral system enhances feed security, optimizes land use, and supports environmental sustainability (planet dimension), while improving cost efficiency and economic resilience (profit dimension). Social value creation is embedded across all BMC elements, demonstrating that the enterprise operates as a sustainable sociopreneurship model rather than a purely commercial business. This research contributes theoretically by integrating sociopreneurship and TBL dimensions into the BMC framework and practically by offering a replicable model for community-based livestock enterprises pursuing economic, social, and environmental objectives.
Prefence, Editorial Board, Table of Contence Page, Front
InFestasi Vol 21, No 2 (2025): DECEMBER
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i2.33547

Abstract

The Impact of Financial Risk on Leverage, Profitability, and Firm Value in Indonesian Companies Diantara, Ega Hendri; Budiarto, Dekeng Setyo
InFestasi Vol 21, No 1 (2025): JUNE
Publisher : Universitas Trunojoyo Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/infestasi.v21i1.30162

Abstract

It is common knowledge that the COVID-19 pandemic has significantly impacted the performance of companies worldwide, including Indonesia. The impact of the pandemic has resulted in two pressures, both positive with increasing profits and negative with the closure of companies. This study will examine the differences in profitability ratios, leverage, and firm value based on the impact of risk after COVID-19. This study was conducted on all companies (except the banking sector) listed on the Indonesia Stock Exchange (IDX). This study uses a purposive sampling technique, so 403 companies were obtained with 797 observations. The data in this study is divided into 2 categories, namely, first, companies that are positively impacted, and second, companies that are negatively impacted by the pandemic. Hypothesis testing uses Mann-Whitney because the data distribution is not normal. The study results show differences in the Long-Term Debt to Equity Ratio (LTDtER) based on the impact of company risk. Furthermore, the test results show that there is no difference in the impact of financial company risk on ROE and Tobin's Q. The novelty of this research is that it provides a methodological contribution that analyzes the impact of financial risk before the pandemic and then compares financial data after the pandemic. The results of this study provide recommendations to stakeholders on how to use the right strategy when investing in companies that go public in Indonesia. This study provides theoretical implications by proving that the impact of financial company risk will result in an increase in long-term debt for the company.

Page 30 of 30 | Total Record : 299

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