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Volume 7, Issue 2 (March-April 2023)


  • Effect of Management Accounting Techniques on Performance of Sulfo Rwanda
    Original Research Article
    Country Rwanda
  • Pages 01-07
  • UMUTONI Belise
  • Abstract | pdf Pdf
  • Management accounting offers a good best opportunity for firms to compete in the market in order to offer best quality commodities and services at low and affordable prices to consumers. The study focused on the effects of management accounting techniques on performance of manufacturing companies in Rwanda from 2011 to 2020. It adopted a descriptive survey design. The target population for the study 257 in Sulfo Rwanda ltd as a case study. Stratified random sampling method was applied to come up with the sample size, since the population in the manufacturing firm is considered heterogeneous, implying that a simple random sample is unrepresentative. The study used primary data using questionnaires as a form of collecting data. The data collected were both quantitative and qualitative. Qualitative data is a categorical measurement expressed not in terms of numbers, but rather by means of a natural language description. Quantitative data is a numerical measurement expressed in terms of numbers. Analysis was done using Statistical Package for Social Sciences (SPSS), allowing the researcher to present the information in form of tables and figures. The study concluded that information for management accounting practice amongst the manufacturing companies in Rwanda followed by strategic analysis, budgeting, cost analysis and performance. R2 = 0.738 and Adjusted R2 = 0.702, show the goodness of fit of the estimated model. Up to 73.8% of long-run appreciation in performance is influenced by changes in budgeting; cost Analysis; strategic Analysis control as implemented by SULFO. The variation of Pearson Coefficient correlation is between -1 and 1; thus according to the results of P-Values (probability significance), they are categorized as positive correlation; therefore, this leads to confirm that there is significant relationship between management accounting techniques and performance of SULFO. The P-value (probability) of all results for correlation coefficient are lower than the conventional 5% (P<0.05); therefore, the correlation coefficients are statistically significant, this lead to confirm the significant relationship among variables means independent variables affected statistically the dependent variable at significant level.


    • Effect of Financial Accountability on Performance of Rwanda Women’s Network
      Original Research Article
      Country Rwanda
    • Pages 08-14
    • UWONKUNDA Belinda
    • Abstract | pdf Pdf
    • Financial accountability has been one of the most problematic and prevalent issues for business worldwide for many years. A continuous increase in financial entanglement and number of corporate defamations had an important impact on understanding and analyzing financial accountability and in turn on audit of the same and its regulation. The growth in finance misappropriation cases indicates that it is high level need exists for research approaches that had better enable auditors and investigators to discover and intercept potential misappropriation. The main goal of the study objective was to sustain the effects of financial accountability on the performance of Rwanda women’s network in Rwanda. in Rwanda. The study adopted a descriptive research design. Stratified random sampling design was used to select the sample of 98 respondents on whom to conduct the research. A structured questionnaire was used to collect the primary data. Descriptive and inferential statistics were employed to analyze the data. The study also established a significant relationship between independent variables which are Budgeting, Internal control and Reporting and performance of Rwanda women’s network NGO. R-squared (R2) equals to 0.770 (or 77%) and adjusted R-squared equals to 0.762 (or 76.2%); the results show the goodness of fit of the estimated model. Up to 77% of long-run appreciation in performance is influenced by changes in budgeting; internal control and reporting as implemented by RWN. The other remaining 23% can be explained by other factors not examined in this study. The findings of ANOVA as p-value is less than 0.05, this means that the performance of RWN was significantly influenced by at least one variable among all independent variables of the model. The results of calculated F-value equals to 65.98 and this is greater than critical F-Value of 1.2495. Therefore, the general regression model is significant. From the findings, while holding other factors constant, an increase in budgeting; internal control and reporting causes an improvement in performance of RWN. Therefore, the p-values are less than 0.05 and there are significant determinant of performance of RWN means the study findings conclude that good performance of RWN score is directly related to effective independent variables.


    • Analysis of Factors Affecting Marketing Performance (Study on MSMEs in the Furniture Industry in Manggung)
      Original Research Article
      Country Indonesia
    • Pages 15-26
    • Afandi Alwi Wardana || Suranto
    • Abstract | pdf Pdf
    • The objective of this research is to recognize the most superior and dominant factors among several variables in this study. This study will be beneficial to the furniture SMEs in Manggung Village, Ngemplak District, Boyolali Regency. The sample furniture SMEs were drawn from a population of 87 SMEs, resulting in a sample size of 53 respondents. Data processing methods using SPSS Statistics 25 software with 21 variables tested using validity, reliability, and factor analysis tests. Product Quality, Assistance, Social Media, Product Variants, Business Capital, and E-commerce are the six factors that influenced the marketing performance of furniture MSMEs in Manggung Village, according to the findings of this study..


    • Environmental Advocacy and Entrepreneurial Motivation as Predictors of Profitability of Seaweeds Industry in Caraga Region: Basis for Strategic Operational Plan
      Original Research Article
      Country Nigeria
    • Pages 27-45
    • Johnith N. Montero
    • Abstract | pdf Pdf
    • The study was conducted to explore the influence of environmental advocacy and entrepreneurial motivation to the profitability of seaweeds industry in Caraga Region. This research used a quantitative non-experimental design employing the descriptive-predictive approach. A total of 300 seaweeds industry farmers and owners from the different provinces of Caraga Region were surveyed using adapted standardized questionnaires. The study's findings showed that farmers and owners in the seaweed sector had very high levels of entrepreneurial motivation, environmental advocacy and profitability. Also, the profitability of the seaweed industry is significantly influenced by the combined as well as individual capacities of environmental advocacy and entrepreneurial motivation. A strategic operational plan was developed based on the findings.


    • Analysis of the Influence of World Oil Prices, Total Money Supply, Exchange Rate, and Export Value on Inflation Levels in Indonesia 2020-2021
      Original Research Article
      Country Indonesia
    • Pages 46-52
    • Abdulmajid, Daryono Soebagyo
    • Abstract | pdf Pdf
    • This research is entitled "Analysis of the Influence of World Oil Prices, Money Supply, Exchange Rates (KURS), and Export Values on Inflation in Indonesia in 2020-2021". This study aims to determine the effect of world oil prices, money supply, exchange rates, and export values on inflation in Indonesia. The method used in this study uses the Partial Adjustment Model (PAM) regression analysis. The short-term model or the estimator model of the PAM. The data used is time series data for 2020-2021. The results of the study show that world oil prices and exchange rates have a significant effect on the inflation rate. Meanwhile, the amount of money in circulation and the value of exports do not significantly affect the inflation rate


    • The Effect of Genuine Revenue, General Allocation Funds AndSpecial Allocation Funds on the Human Development Index
      Original Research Article
      Country Indonesia
    • Pages 53-59
    • Irvan Abdurrahman Nur Arifin || Erma Setiawati
    • Abstract | pdf Pdf
    • The Human development index (IPM) was popularized by the United Nations Development Program (UNDP) through the Human Development Report in 1996, which then continues every year. This study aims to identify and analyze the effect of regional original income, special allocation funds, and general allocation funds on the regional development index (IPM). The population of this study is all regencies/cities resulting from division throughout Indonesia which expanded after May 1999 in accordance with Law No. 22 of 1999, data obtained from www.bps.go.id. And https://e-ppid.bpk.go.id/ during 2018-2019. The sampling technique used in this study was a purposive sampling technique. Based on the results of data analysis and discussion, it can be concluded that Regional Original Income has an effect on the Human Development Index. This result can be proven by a significance value of 0.00 <0.05 so that H1 is accepted. the result that the General Allocation Fund has no effect on the Human Development Index, this can be proven by the significance value that is owned by the general allocation fund of 0.796 > 0.05 so that H2 is rejected. the result that the Special Allocation Fund has an effect on the Human Development Index, this can be proven by the significance value that is owned by the Special Allocation Fund of 0.00 <0.05 so that H3 is accepted


    • The Effect of Good Corporate Governance Mechanisms and Company Size on the Integrity of Financial Statements
      Original Research Article
      Country Indonesia
    • Pages 60-67
    • Yunita Sari || Suyatmin Waskito Adi
    • Abstract | pdf Pdf
    • This study aims to examine and analyze the influence of corporate governance mechanisms and company size on the integrity of financial statements. The corporate governance mechanism in this study is proxied by the variables of independent commissioners, audit committees, institutional ownership, and managerial ownership. The population in this study are food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange in the 2018-2021 period. The sampling technique used in this study was purposive sampling method so that 12 companies were obtained for four years, so the sample in this study was 48 samples. The data analysis technique uses the classical assumption test and multiple regression analysis with SPSS 25. The results of this research show that institutional ownership has an effect on the integrity of financial reports. Meanwhile, independent commissioners, audit committees, managerial ownership and company size have no effect on the integrity of financial statements.


    • Dimensions of Marketing Mix of Shopping Malls in Davao City: an Exploratory Factor Analysis
      Original Research Article
      Country Philippines
    • Pages 68-92
    • GAUDENCIO G. ABELLANOSA || CHOONGHUN LEE
    • INTRODUCTION | pdf Pdf
    • An organization needs to hold specific and effective plans or strategies when it starts running a business. There are a variety of items to consider, such as what to sell, how much the prices should be, how to adapt to certain conditions, where to establish a building, and so on. Oftentimes, it is not quite simple to adapt to the ever changing business environment. Apparently, shopping malls are not exempted as well. They do not focus on one particular pool, but offer various other categories for a lot of consumers. In this sense, they may be in an even more difficult situation. To formulate business operation strategies, marketing mix is an absolutely resourceful tool. Marketing mix is a solid set of several flexible elements that a company generates to affect how the consumers respond (Kotler, 2011). A generally well-known model is called 4P marketing mix with four factors, which are namely: product, price, place, and promotion (McCarthy, 1960). Product is any tangible or intangible goods that a firm offers to the target market. Price refers to the values that consumers must pay in exchange for the products. Place means the location where business takes place, as well as available goods distribution channels. Promotion is communication between buyers and sellers where the former approaches to the latter to attract them by informing and advertising. Each of these dimensions are known to take a vital role in the marketing strategies and business approach.


    • The Effect of Firm Size, Firm Performance, Sales Growth, and Leverage on Earnings Management
      Original Research Article
      Country Indonesia
    • Pages 93-102
    • Muhammad Ervan Rizqya || Fauzan
    • Abstract | pdf Pdf
    • The purpose of this research is to investigate the impact of firm size, firm performance, sales growth, and leverage on earnings management. This is a quantitative study that employs multiple regression analysis with SPSS Software version 25. For the period 2018-2021, the population in this study consists of Real Estate and Property Sector Manufacturing Companies listed on the Indonesia Stock Exchange (IDX). The purposive sampling method was used for this study's sampling. The sample consisted of 82 real estate and property companies that met the 52-company research criteria. The findings of this research analysis are that firm size, firm performance, and sales growth have no effect on earnings management, whereas leverage has an effect on earnings management of real estate and property companies in.


    • Factors Affecting the Success of PPP Transport Projects in Vietnam
      Original Research Article
      Country VietNam
    • Pages 103-109
    • Nurul Agustina || Wahyono
    • Abstract | pdf Pdf
    • To promote the development of transport infrastructure as well as to deal with some challenges such as budget and project efficiency, the Public Private Partnership (PPP) model is a very proper choice. The factors that determine the success of PPP transport projects are important issues to be analyzed in different countries. The article aims at identifying the factors and the extent of their influence on the success of PPP transport project in Vietnam. Research data are collected from surveys with questionnaire to capture related partners' perceptions of success factors. A total of 92 questionnaires were collected and analyzed using Statistical Package for the Social Sciences (SPSS) software to rank the influence of success factors. Research results show that “Adequate and transparent legal framework”, “State and private commitments and responsibilities”, “Transparency in bidding”, “State support policy” and “Good governance” are the top five factors determining the success of a PPP transport project in Vietnam. The new findings of the study help the State and investors better understand the factors determining the success of PPP transport projects in Vietnam in order to make appropriate decisions on policies.


    • Relationship between Product Remodeling and Performance of Manufacturing Enterprises in Kenya
      Original Research Article
      Country Kenya
    • Pages 110-117
    • John Muchira Mwaniki || Dr.Daniel M. Wanyoike || Dr. Frida Simba
    • Abstract | pdf Pdf
    • For any ground-breaking process to have any successful contribution in an organization, it needs to have a positive effect on the performance of an organization. Hence, the inventiveness of an organization is the overall combination of the firm‟s achievements due to transformation and effective upgrading carried out after considering various aspects of the firm‟s inventive capacity. The study utilized the Diffusion Theory of Innovation. The target population was senior managers of all the 710 manufacturing companies in Nairobi and the surrounding areas. To determine the sample size, the statistical formula suggested by Mugenda and Mugenda (2003) and Saunders et al. (2009) was used to arrive at a sample size of 274. The researcher employed stratified simple random sampling technique based on sub-sector of manufacturing enterprises. Data collection was done through a structured open and closed ended questionnaire. Before embarking on data collection, the instruments were piloted to ensure they are valid and reliable. The study established a negative relationship between product remodeling and performance ((β =-0.125, p-value=0.038<0.05). The study recommended that the management of manufacturing enterprises in Kenya should endeavor to carry out thorough market research to determine the effect of product remodeling a product on the overall performance of the enterprise. Government institutions in Kenya such as Kenya Industrial Research Institute should assist manufacturing enterprises in terms of research and development of new products or improvement of existing ones. Such institutions should enhance industrial research especially in the field of strategic innovation techniques so as to improve performance in the manufacturing sub sector.


    • The Effect of Information System Quality, Information Quality and Perceived Usefulness on User Satisfaction of Accounting Information System at CV Pusat Cleanoz Penghemat BBM in the Karanganyar Regency
      Original Research Article
      Country Indonesia
    • Pages 118-128
    • Yuniarti Ningtyas || Nursiam
    • Abstract | pdf Pdf
    • This study aims to analyze the effect of information system quality, information quality and perceived usefulness on accounting information system user satisfaction. This type of research uses quantitative methods. Data collection using a questionnaire. The population in this study were all employees at CV Pusat Cleanoz Penghemat BBM in the Karanganyar Regency, totaling 150 employees. The Sampling used a purposive sampling technique to obtain a sample of 67 employees. The data analysis method used in this study is multiple linear regression analysis. The results of this study indicate that the variables of information system quality and perceived usefulness affect on user satisfaction with accounting information systems. At the same time, the information quality variable does not affect the satisfaction of accounting information system users.


    • Investment Decisions of Millennial Investors: Viewed From Herding Behavior, Investment Knowledge, Expected Return and Technological Advances
      Original Research Article
      Country Indonesia
    • Pages 129-136
    • Rosiana Kurnia Maharani || Shinta Permata Sari
    • Abstract | pdf Pdf
    • The economies of South-east Asia get better progress amd more integrated. Indonesia is one of the ASEAN countries where economic development and growth in Indonesia is currently growing rapidly, one of which comes from investment in the capital market. Investment is currently increasing through domestic investors who are dominated by millennial investors with considering several factors in making investment decisions. Investors need information, skills and understanding of investment in making decisions. This study aims to determine the effects of herding behavior, investment knowledge, expected return and technological advances on millennial investor investment decisions. This research is conducted using quantitative methods. Sample in this study of 120 respondents use accidental sampling to collect responses. The collected data are tested with linear regression analysis. The results of this study are investment knowledge, expected return and technological advances affect investment decisions, while herding behavior do not affect investment decisions.


    • Effect of Profitability, Audit Committee, Financial Distress and Company Size on Tax Avoidance
      Original Research Article
      Country Indonesia
    • Pages 137-146
    • Regitta Arivia Dilayla || Wahyono
    • Abstract | pdf Pdf
    • The intention of study is to investigate the impact of tax avoidance on profitability, audit committee, financial rigidity, and company size. This is quantitative research that employs multiple linear regression examination with the assistance of SPSS software version 25. This study's population consists of Property and Real Estate Companies that are itemized on the Indonesia Stock Exchange (IDX) between 2019 and 2021. The purposive sample method was used in this study, and the sample entailed of 47 property and real estate company data from 51 data that met the research criteria. According to the research findings, profitability and financial suffering have an impact on tax evasion, whereas the audit committee and company size have no impact.


    • Effects of Profitability, Company Size, and Leverage on Company Value
      Original Research Article
      Country Indonesia
    • Pages 147-154
    • FERRY SETYO CHRISTIAWAN || AGUS ENDRO SUWARNO
    • Abstract | pdf Pdf
    • The worth of a firm is the price that investors are willing to pay for a company, as measured by the price-to-book value ratio. Profitability, firm size, and leverage are all elements that might influence a company's value. The purpose of this research is to estimate the impact of profitability, business size, and leverage on company value in mining companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2020. The purposive sampling methodology was utilized to obtain a sample of 24 mining businesses, and the data analysis method was multiple linear regression analysis. The information was derived from the 2018-2020 financial reports of manufacturing businesses listed on the Indonesia Stock Exchange (IDX). The test results suggest that profitability and company size have an impact on firm value, while leverage has no impact.


    • Firm Size, Sales Growth, and Good Corporate Governance: in Cash Holding Management in Real Estate and Property Companies on the Indonesia Stock Exchange
      Original Research Article
      Country Indonesia
    • Pages 155-164
    • Sekarsari Ayu Agustina || Atwal Arifin
    • Abstract | pdf Pdf
    • Inventory of cash on hand (cash holdings) is the cash needed to meet the needs of the company's daily operational activities. Holding large amounts of cash can provide various advantages for companies, one of which is to finance unexpected expenses. Holding excess cash also has a negative side, namely the loss of the company's opportunity to earn profits because cash that is only stored will not provide income. Therefore, the problem that is often faced by a financial manager is carrying out the company's operational activities while maintaining the balance of the company's cash balance. The purpose of this study was to determine the effect of Firm Size, Sales Growth, and Good Corporate Governance on Cash Holding. The population in this study are Real Estate and Property companies listed on the Indonesia Stock Exchange in the 2018-2021 period. Sampling was carried out by purposive sampling method and obtained as many as 191 companies that met the criteria for analysis. The data analysis method used is multiple linear regression analysis. The results of the research from testing the data show that firm size has an effect on cash holding, while sales growth, the Board of Commissioners, the Board of Independent Commissioners, and institutional ownership have no effect on cash holding in Real Estate and Property companies.


    • The Effect of Green Accounting, Environmental Performance, Leverage, and Firm Size on Financial Performance
      Original Research Article
      Country Indonesia
    • Pages 165-177
    • Fisabella Diniati || Nursiam
    • Abstract | pdf Pdf
    • The production process from the manufacturing sector contributes significantly to environmental problems such as pollution, waste, product safety, and labor. This study aims to analyze the effect of green accounting, environmental performance, DAR, DER, and firm size on financial performance. This research uses descriptive quantitative research methods. The population in this study is manufacturing companies listed on the Indonesia Stock Exchange in 2019-2021. Sampling was carried out using the purposive sampling method which resulted in 37 companies that met the criteria. The analysis method used is multiple regression analysis using the SPSS program. Based on the results of the research conducted, it shows that partially the variables of green accounting, environmental performance, DER, and firm size have no effect on financial performance. In comparison, DAR has a negative and significant effect on financial performance. The variables of green accounting, environmental performance, DAR, DER, and firm size have a simultaneous effect on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2019-2021.


    • The Influence of Corporate Image and Service Quality on Customer Loyalty Mediated by Customer Satisfaction at Bank ACEH Syariah Head Office of Banda Aceh City
      Original Research Article
      Country Indonesia
    • Pages 177-184
    • Ihsan || Muhammad Adam || Mukhlis
    • Abstract | pdf Pdf
    • This research aims to examine the corporate image and service quality (servqual) effect on customer loyalty mediated by customer satisfaction at the Bank Aceh Syariah (BAS) Banda Aceh Head Office, in Banda Aceh City.Thisstudy was conducted at the BAS Banda Aceh Head Office. The population was thecustomersin Banda Aceh. The sample used was 198 people. The result concludes that in BAS Banda Aceh Head Office the Corporate image affects loyalty, Servqual affects loyalty, Corporate image affects satisfaction, Servqual affects satisfaction, Satisfaction affects loyalty, Corporate image affects loyalty mediated by satisfaction, and Servqual affects loyalty mediated by satisfaction. The findings also show that the function of satisfaction in this model is as a partial mediator in predicting corporate image and servqual to affect loyalty. So these findings imply that the model of increasing loyalty at the BAS Banda Aceh head office is a function of improving corporate image and increasing servqual so that it has an impact on increasing satisfaction.


    • The Effect of Digital Marketing And Brand Positioning on Saving Decisionwith Brand Awareness Asmediation at Bank ACEH Syariah of Banda ACEH Branch
      Original Research Article
      Country Indonesia
    • Pages 185-191
    • Muhammad Leofiola || Mukhlis Yunus || T Meldi Kesuma
    • Abstract | pdf Pdf
    • This research aims totestDigital Marketing and Brand Positioning effect on Brand Awareness and Its Impact on Saving Decisions at Bank Aceh SyariahofBanda Aceh Branch (BAS Banda Aceh).The population was all customers of BAS Banda Aceh, totaling 48,706 people. The sample was 397 customers, which were calculated using the Slovin formula. Data were analyzed using Structural Equation Modeling (SEM). The results conclude that Digital marketing affects brand awareness, Brand positioning affects brand awareness, Digital marketing affects saving decision, Brand positioning affects saving decision, Brand awareness affects saving decision, Digital marketing affects saving decision thru brand awareness, and Brand positioning affects saving decision thru brand awareness. These results also explain that brand awareness in the model functions as a partial mediator, meaning that brand awareness can be a mediator or not needed as a mediator in digital marketing influencing saving decisions and brand positioning influencing saving decisions. This evidence has been verified and explains the academic premise that the model for increasing saving decisions at BAS Banda Aceh is a role function of the accuracy of digital marketing and the suitability of brand positioning, as well as strengthening brand awareness.


    • The Influence ofStore Atmosphere and Location on Customer Loyalty Mediated by Customer Satisfaction ofPanganSwalayan Banda ACEH
      Original Research Article
      Country Indonesia
    • Pages 192-199
    • Muhammad Hadian Utama || Muhammad Adam || Mukhlis Yunus
    • Abstract | pdf Pdf
    • This study aims to examine the customer satisfaction role as a mediator in the store atmosphere and location effect on customer loyalty of PanganSwalayan Banda Aceh (or so called PanganSwalayan), one of the food supermarketsin Banda Aceh city. The population wasthePanganSwalayan Customers.Determining the number of samples used a formula of 8 times the number of indicators in the model, totaling 20 indicators (Ferdinand, 2013), so it provides 160 respondents as a result. Sampling was carried out using random sampling. Data were testedusingthe Structural Equation Modeling (SEM) technique. From the results we can conclude that in the PanganSwalayan, Store Atmosphere affects Satisfaction, Location affects Satisfaction, Store Atmosphere affects Loyalty, Location affects Satisfaction, Satisfaction affects Loyalty, Store Atmosphere affectsLoyalty thru Satisfaction, and Location affects Loyalty thru Satisfaction. These findings also prove that satisfaction functions in the H6 model as a partial-type mediator, and in the H7 model as a full-type mediator. These findings also explain that the model for increasing loyalty that has been tested is a function of adjusting store atmosphere and location, as well as increasing satisfaction.


    • The Role of Mediation of Employee Performance in Improving the Performance of Bank ACEH Syariah of Banda ACEH City Moderated by Service Orientation
      Original Research Article
      Country Indonesia
    • Pages 200-205
    • Erna Asma || Muhammad Adam || Mukhlis Yunus
    • Abstract | pdf Pdf
    • This research aims to examine the effect of the mediating role of employee performance in improving the performance of Bank Aceh Syariahof Banda Aceh City (BAS Banda Aceh) moderated by service orientation.The population was all BAS Banda Aceh, totaling 415 people. The sample was 216 employees, meeting a requirement for Structural Equation Modeling (SEM). The research results show that culture influences employee performance, culture influences BAS Banda Aceh performance, service orientation influences BAS Banda Aceh performance, employee performance influences BAS Banda Aceh performance, employee performance mediates the organizational culture influence on BAS Banda Aceh performance, service orientation moderates the organizational culture influence on BAS Banda Aceh performance, and service orientation moderates the employee performance influence on BAS Banda Aceh performance. This finding also proves that employee performance on the H5 model functions as a partial mediator, and service orientation on the H6 and H7 models is a pure moderator. So the results explain that the model of increasing organizational performance in BAS Banda Aceh is a function of adjusting organizational culture, increasing employee performance, and strengthening service orientation.


    • The Effect of Knowledge Management and Organizational Learning on Organizational Performance with Innovation as a Mediation Variable at AngkasaPura II ACEH
      Original Research Article
      Country Indonesia
    • Pages 206-212
    • Muhamad Iwan Sutisna || Muhammad Adam || Mukhlis Yunus
    • Abstract | pdf Pdf
    • This research aims totestKnowledge Management and Organizational Learning influence on Innovation and its impact on Organizational Performance.The population was all employees of AngkasaPura II Aceh company, as many as 168people. The sample was determined by census technique where the entire population members were used as the sample. Data were tested thru the SEM-AMOS and Sobel calculator. The result concludes that in AngkasaPura II Aceh, Knowledge management affects innovation, Organizational learning affects innovation, Knowledge management affects AngkasaPura II Aceh Performance, Organizational learning affects AngkasaPura II Aceh Performance, Innovation affects AngkasaPura II Aceh Performance, Knowledge management affects AngkasaPura II Aceh Performance thru Innovation, and Organizational learning affects AngkasaPura II Aceh Performance thru Innovation. These findings explain that Innovation in this research model is proven to function as a partial mediator. So the overall results explain that the model for improving the organizational performance of AngkasaPura II Aceh is a function of increasing Knowledge Management and Organizational Learning methods to make them better, as well as strengthening innovation that can have a big effect.


    • Hexagon Fraud in Detecting Financial Statement Fraud Using the M-Score Model in Property, Real Estate, and Building Construction Companies Listed on the Indonesia Stock Exchange (IDX) 2016-2020
      Original Research Article
      Country Indonesia
    • Pages 213-225
    • Nistiyanti Regita Cahyani || Wahyono
    • Abstract | pdf Pdf
    • This study aims to empirically prove the effect of financial targets, financial stability, external pressure, nature of industry, rationalization, capability, arrogance, and collusion in detecting financial statement fraud. This study uses a type of quantitative research with hypothesis testing. The population used in this study are property, real estate and building construction companies listed on the Indonesia Stock Exchange for the 2016-2020 period. This study used a purposive sampling method and obtained a sample of 19 companies with 87 data that could be processed. The data analysis method used in this study used logistic regression analysis processed with SPSS 25. The results of this study indicate that the nature of industry and rationalization have an effect on financial statement fraud, while financial targets, financial stability, external pressure, capability, arrogance, and collusion have no effect on financial statement fraud.


    • The Effect of Intellectual Capital on Firm Value with Financial Performance as a Moderating Variable
      Original Research Article
      Country Indonesia
    • Pages 226-240
    • Valmaydhiya Khairunnisa || Erma Setiawati
    • Abstract | pdf Pdf
    • This study aims to determine the effect of intellectual capital on firm value with company performance as a moderating variable in food and beverage companies located on the IDX. The independent variable in this study is Intellectual capital which is reflected in capital employed (VACA), human capital (VAHU), and structural capital (STVA). The dependent variable used is firm value as measured using Tobins'Q theory. Meanwhile, the moderating variable of this study is financial performance measured using return on assets (ROA). The research method used in this research is quantitative method with secondary data obtained on the official IDX website (www.idx.co.id) for the 2017-2021 period. The population in this study are food and beverage companies. Sampling will be carried out using purposive sampling technique with certain criteria. This study uses multiple linear regression to analyze the data.


    • An analysis of the effects of COVID-19 pandemic on employee productivity: A case of Oshakati Town Council, Namibia
      Original Research Article
      Country Namibia
    • Pages 241-259
    • Frans Nuuyoma || Thomas Bhebhe
    • Abstract | pdf Pdf
    • The purpose of the study was to analyse the effects of the COVID-19 pandemic on employee productivity. The study adopted a quantitative approach and a causal-comparative design. A census sampling technique was used for selecting the respondents in which all the 110 employees of Oshakati Town Council took part in completing structured questionnaires. The study utilized the Protection Motivation Theory (PMT) to analyze and explain the findings. The main finding was that COVID-19 negatively affected the productivity of employees, thereby impacting on the overall performance of Oshakati Town Council. The COVID-19 pandemic created anxiety, depression and other health challenges on employees. Although it was proven that low anxiety was significantly helpful in arousing employee motivation, persistent exposure to the infectious environment negatively affected the mental health of employees and that negatively affected productivity. Findings of this study further revealed that Oshakati Town Council lacked manpower to help enhance employee productivity during the pandemic. Moreover, the study established that the working from home (WFH) strategyfailed because of multi-tasking between official duties and household chores, and the absence of suitable office space and equipment at home. This study recommended management to ensure that employees are well supported during a pandemic like COVID-19 in order to keep them safe and productive. Employers should always be ready with strategies of how to respond if a pandemic strikes the workplace.


    • Measuring Financial Performance Based on Operating Cash Flow
      Original Research Article
      Country United Arab Emirates
    • Pages 260-264
    • Mukdad Ibrahim
    • Abstract | pdf Pdf
    • The aim of this research paper is to measure the financial performance of Emirates Insurance company over the ten years using financial ratios based on operating cash flow and analyze the impact of operating cash flow margin ratio on return on equity and return on assets. The research employed secondary data sourced from the company’s reports for the years 2010 to 2019. Several statistical measurements were used such as coefficient of variation, correlation and regression analysis. The findings revealed a moderately high level of instability due in large part to the sharp fluctuations witnessed over the years. In addition, a moderately strong correlation was seen between operating cash flow margins and the remainder of the cash flow ratios studied. Finally, regression analyses indicate a significant negative impact of operating cash flow margins on each of return on equity and return on assets. The study recommends that future research focus on devising effective cash flow management strategies in order to mitigate the risks and problems associated with low operating cash flow within the insurance industry and ensure long term durability as a going concern


    • Explaining the Role of Human Resource Accounting and Economic Awareness in Organizational Entrepreneurs
      Original Research Article
      Country Iran
    • Pages 226-240
    • Amir Azad armaki || Fatemeh Solymani || Erfan golcheghaneh
    • Abstract | pdf Pdf
    • This article examines the role of human resource accounting and economic awareness in organizational entrepreneurship. It creates a conceptual framework that links the premises and implications, it also provides an agenda for future research. We review a number of articles published in entrepreneurship, management, and economics journals; they provide an assessment of the current state of research. In this research, it has been tried to interpret the position of the variables using the library method.These studies usually cover a single dimension of the phenomenon of corporate entrepreneurship, economic awareness, and human resource accounting. Therefore, they do not provide a global view of the existing literature. Also, the dimensions studied in this research have been investigated in different fields, different approaches and definitions have been presented for it. But examining and making connections between them limits our understanding of the accumulated knowledge in this field, it also hinders the development of further research. Our review addresses these shortcomings and provides a roadmap for future research. In the end, it can be explained that measuring the value of employees in human resource accounting and the importance of having financial literacy in the concept of corporate entrepreneurship is in line with the strategic structure and the use of appropriate opportunities.


    • Productivity Change of Water Districts in Region 12 using Data EnvelopmentAnalysis Based Malmquist Productivity Index
      Original Research Article
      Country Philippines
    • Pages 241-251
    • Joemarie A. Pono || Reynaldo C. Castro
    • Abstract | pdf Pdf
    • Benchmarking tools have gained interest in recent years to assess the effectiveness of reforms and performance of water companies. This study aimed to estimate the productivity change of water districts in region 12 using the Data Envelopment based Malmquist Productivity Index from 2014 to 2018. It was found out that the sources of productivity were technological changes for the majority of the water districts. Water districts have increased capital investment to improve technology. Subsequently, inefficient water districts may adopt the peer weights of referenced decision-making units to adjust inputs to attain productivity. Moreover, having a centralized policy covering the set standards and policies of the concerned agencies is necessary for the water districts to develop good water governance.


    • The Effect of Esg Disclosure, Company Size, and Leverage On Company's Financial Performance in Indonesia
      Original Research Article
      Country Indonesia
    • Pages 252-262
    • Cindy Meila Putri || Dewita Puspawati
    • Abstract | pdf Pdf
    • This study aims to examine the effect of disclosure of ESG, Company Size, and Leverage on Company Financial Performance. The population in this study are all companies listed on the Indonesia Stock Exchange (IDX) in 2018-2021. The sample was selected using a purposive sampling technique, in order to obtain 42 samples of companies that met the criteria with 168 data used as research samples. Financial Performance is proxied by Return on Assets and Tobin's Q, The results showed that Leverage only had an effect on financial performance which was proxied by Return on Assets, and disclosure of ESG, Firm size, Leverage had an effect on financial performance which was proxied by Tobin's Q.


    • Designing Resilient Value Chains – A Literature Study on Methodological and Technology-Based Approaches
      Original Research Article
      Country Germany
    • Pages 263-272
    • Niels Schmidtke || Fabian Behrendt
    • Abstract | pdf Pdf
    • Whether climate change, resource scarcity, IT security research, stress in the workplace or production failures - the term resilience is a trendy word of our time. While many studies and scientific publications focus primarily on the topic of psychological or sociological resilience (in the sense of psychological or social resilience), the focus of this research paper is on the technical interpretation of the term resilience. The focus is primarily on resilience management, which comprises measures and strategies to strengthen the systemic resilience of a business or organizational system [1]. This paper provides within a literature review an answer to the research question of which methods exist for increasing resilience in companies and also addresses important technologies and trends. Within the framework of a conceived methodological framework, an integration model is created which, in addition to the classic process or production orientation, also keeps the customer perspective (in the sense of the business model) in mind and provides concrete design options with a focus on technology and data-driven solutions for increasing corporate resilience.


    • The Impact of Brand Image, Viral Marketing, and Consumer Trust on Purchase Decisions on Good Day RTD Products
      Original Research Article
      Country Indonesia
    • Pages 273-280
    • Daniel Given Handerson || Sri Hartono
    • Abstract | pdf Pdf
    • This research investigates how brand image, viral marketing, and customer trust influence consumers' decisions to purchase Good Day RTD products in Jakarta areas. Data were collected using a quantitative descriptive research methodology. Processing and data analysis techniques using SEM-PLS. The population of this study are consumers who consume Good Day RTD in the Jakarta area. The nonprobability sampling method used is purposive sampling, in which the sample size is 150 respondents. The findings of the study support the three hypotheses that consumer trust, brand image, and viral marketing all have a positive and significant impact on consumers’ purchasing decisions. For future researchers, they can determine a sample with a larger number to describe the population and put other variables can be used to improve this research.


    • Effect of Financial and Nonfinancial Compensation on Employee Performance at PT Tesco Indomaritim Surabaya Branch
      Original Research Article
      Country Indonesia
    • Pages 281-291
    • Yelisa Nindi Pratama Pungki || Nursiam
    • Abstract | pdf Pdf
    • Compensation and employee performance are two related factors because compensation will have an impact on the employee concerned and the company where he works. Employees provide good work performance for the progress of the company, while the company provides appropriate compensation for the work performance that has been given by employees to the company. This study aims to examine the effect of financial and non-financial compensation on employee performance at PT Tesco Indomaritim Surabaya Branch. This type of research uses quantitative research methods. The sampling technique uses saturated sampling technique (all members of the population are sampled), so the sample is 66. The data collection technique uses a questionnaire. Based on the multiple regression analysis method, the test results show that: financial compensation and non-financial compensation affect employee performance at PT Tesco Indomaritim Surabaya Branch.


    • Risk Tolerance Analysis Based on Gender Differences in Generations X and Y on Asset Allocation
      Original Research Article
      Country Indonesia
    • Pages 292-303
    • RR Diva Putri Hasyyati || Susilo Toto Rahardjo
    • Abstract | pdf Pdf
    • This study aims to analyze and compare the level of risk tolerance based on gender differences in generations X and Y in asset allocation. This research method is a mixed method with an explanatory sequential approach. Data collection techniques in this study used closed questionnaires and in-depth interviews. Data were collected from the sampling populationin generation X and Y individuals with a minimum investment funding of Rp. 2,000,000.00 and invested in at least 3 different instruments with a non-probability sampling method. The study had 202 respondents with 112 men and 90 women on the results of a closed questionnaire. After further study, as many as 8 respondents with 4 women and 4 men were the research sample with interview techniques. The data obtained is processed using SPSS software. The results of the interview are obtained by the stage of condensing data, displaying data, and drawing conclusions. Based on quantitative analysis with different tests man nwhitney test it was found that hypothesis 1 and hypothesis 2 were accepted. It is characterized by a different test that has a significant level of < 0.005 then, for generations X and Y both men and women have different levels of risk tolerance. Based on the qualitative analysis of generation X men have an aggressive risk tolerance towards moderate while women are conservative. In generation Y men have an aggressive risk tolerance whereas women are conservative. Risk management in men in generation X uses risk diversification and women in generation X are more conventional by saving and setting aside money. Generation Y in men uses risk management diversification risk and "cold" money while in women diversify risk and prioritize investment instrument assets. In generation X investment instruments the majority goes to gold, deposits, and bonds. Meanwhile, Generation Y is mostly for mutual funds, gold, deposits, and stocks.


    • Entrepreneurial Orientation Dimension and Organizational Performance of Medium-Sized Food Manufacturing Firms in Nairobi County, Kenya
      Original Research Article
      Country Kenya
    • Pages 304-311
    • James Leiro Letangule || Dr. Victoria Wanambiro
    • Abstract | pdf Pdf
    • Entrepreneurial orientation dimension increases the firm’s understanding of the market demands and customer needs which enhance competitive advantage and organizational performance. However medium-sized food manufacturing firms in Kenya have encountered significant challenges in coping with changing business environment and customer needs. These challenges are a major hindrance to the attainment of sustainable performance. It is against this background that the researcher assessed the influence of entrepreneurial orientation on organizational performance of medium-sized food manufacturing firms. The study was guided bydelta model theory and descriptive research design was employed. The target population was the 49 medium-sized food manufacturing firms operating in Nairobi County. Managers of the aforementioned firms were the unit of observation. Census design was adopted since the population was very small and all the 49 managers were included in the study. A structured questionnaire was used in data collection of the primary data. Both descriptive and inferential statistical methods were applied in data analysis. According the descriptive data analysis, it was observed that entrepreneurial orientation dimension influenced the performance of medium-sized food manufacturing firms. Correlation analysis results established that entrepreneurial orientation dimension (r=0.734**) had a significant relationship with performance of medium-sized food manufacturing firms. Therefore, it influenced organizational performance positively. In regression analysis, the coefficient of determination (R2=0.539) implying that entrepreneurial orientation dimension explained 53.9% of the organizational performance of medium-sized food manufacturing firms. The study concludes that the adoption of entrepreneurial orientation enable a firm to anticipate and plan for future opportunities rather than over relying on the existing products, services and processes. The study recommends that medium-sized food manufacturing firms should create a conducive environment that encourages creativity and new ideas. They should also focus the entrepreneurial orientation towards re-establishing the fundamental set of relationships with the business environment. This will help them to react effectively to the new opportunities and changes. The study will provide important information on dimensions of strategic orientation which will help food manufacturing medium-sized firms to make informed choices and enhance performance. Additionally, the findings of the study will be of significant importance in the formulation of policy framework for the medium-sized food manufacturing firms.


    • Financial Literacy and Financial Management Practices of Public School Teachers in Barangay Poblacion, Tantangan, South Cotabato
      Original Research Article
      Country Philippines
    • Pages 312-328
    • DENYEL ZYRIX D. DELMO || SHEINA S. SARMIENTO || POL IAN M. BUGADOR
    • Abstract | pdf Pdf
    • The research investigated the financial literacy and financial management practices of public-school teachers in Tantangan, South Cotabato's Barangay Poblacion. The correlational technique was utilized in a quantitative, non-experimental research design. The study involved 76 public school teachers who were chosen using purposive sampling. An adapted and modified questionnaire was used to measure and establish the relationship between financial literacy and financial management practices, as well as the differences that socio-demographic factors have. Furthermore, statistical methods such as the mean, Pearson r, and ANOVA were applied. Findings of the study conveyed that the levels of financial literacy and financial management practices were high and that age could lead to differences in financial literacy and financial management practices of public school teachers. With the data on hand, it revealed that financial literacy has a high positive correlation with public school teachers' financial management practice.


    • Customer Strategic Orientation and Organizational Performance of Kenya Airports Authority
      Original Research Article
      Country Kenya
    • Pages 329-335
    • Nzioka Charles Mututu || Dr. Peter Mwaura
    • Abstract | pdf Pdf
    • Customer strategic orientation usually reflects the strategic directions which are implemented by the organization to improve customer service and performance. They enable organizations to respond to the changing customer needs in a dynamic environment. The ability of Kenya airports authority to provide and maintain facilities necessary for efficient operations of aircrafts determine the effectiveness of customer services and the organizational performance. The current study examined the influence of customer strategic orientation on organizational performance of Kenya Airports Authority. The study was guided goal systems theory and adopted descriptive research design. The target population of the study was the 76 managers and supervisors of Kenya Airports Authority at Jomo Kenyatta International Airport. Census technique was employed where all the managers and supervisors of Kenya Airports Authority were involved in the study. Data was collected through questionnaires. Both descriptive and inferential data analysis methods were employed. Descriptive findings showed that customer strategic orientation influence Kenya Airports Authority’s organizational performance. Correlation analysis results indicated that customer orientation had correlation coefficients r=0.796**. This means that the relationship between each customer strategic orientation and organizational performance was significant. Regression analysis results showed that the coefficient of determination was R2=0.634, implying that customer strategic orientation explained 63.4% variation in Kenya Airports Authority’s organizational performance. The study concludes that customer strategic orientation creates value for customers, hence determine the effectiveness in service delivery. The researcher recommends that Kenya Airports Authority should put customer centrality as the focal-point for all decision-making processes within the organization. The study will be useful to the managers and supervisors of Kenya Airports Authority by helping them to make sound strategic decisions and policies to improve organizational performance.


    • How online KOL endorsement on TikTok affects customer brand association and recall: evidence from Vietnam's F&B sector
      Original Research Article
      Country Vietnam
    • Pages 336-344
    • Thi Thu Hoai Luong || Minh Phuong Thi Luu || Hai Ninh Nguyen
    • Abstract | pdf Pdf
    • The current study aims at exploring the interrelationships among KOL endorsement effectiveness, brand association, and brand recall. Moreover, the impacts of the three key KOL endorsement attributes (KOL commensurate with product, Brand Investment in KOL endorsement, KOL endorsement suscept to consumer culture.) on brand association and KOL endorsement effectiveness have also been examined. Partial least square–structural equation modelling (PLS-SEM) and Smart PLS 3.3.7 software have been adopted to conduct analysis and test hypotheses. Quantitative data was collected by using online structured questionnaire with 350 TikTok users who have experience in consuming F&B products advertised by online KOL. The findings suggested that KOL endorsement has a positive and significant impact on the brand association and recall. Then, brand associations also substantially impact brand recall of F&B brands. Brands are also suggested to invest in KOL endorsed marketing activities to increase brand associations, boost brand recall and buying intention. Besides, the brand must pay attention on selecting KOL who are appropriate for the consumer culture and the company's brand identity.


    • The Effect of Good Corporate Governance, Company Size, and Environmental Performance on Company Financial Performance
      Original Research Article
      Country Indonesia
    • Pages 345-352
    • Annaya Nabilah Hermayanti || Agus Endro Suwarno
    • Abstract | pdf Pdf
    • This research aims to analyze the effect of Good Corporate Governance, company size, and environmental performance on company financial performance. This is quantitative research and the research sample includes nineteen manufacturing companies in the consumer goods industry sector listed on the Indonesia Stock Exchange over 2016-2019 period. The analysis method of this research is multiple linear regression analysis. Financial performance is measured by Net Profit Margin. Good Corporate Governance is measured by board of commissioners, board of directors, and audit committee. Company size is measured by total of assets and environmental performance is measured with PROPER rating by Ministry of Environment and Forestry Indonesia. The results show that environmental performance had a significant effect on financial performance. While board of commissioners, board of directors, audit committee, and company size had no significant effect on financial performance.


    • The Effect of Company Profitability, Liquidity, Activity and Growth on Financial Distress
      Original Research Article
      Country Indonesia
    • Pages 353-364
    • Siti Munfaqiroh || Desi Amelia Budiyanto || Zainul Arifin
    • Abstract | pdf Pdf
    • This study aims to determine the effect of profitability, liquidity, activity, and company growth on financial distress. The research sample was conducted on 5 cosmetic and household goods sub-sector companies listed on the Indonesia Stock Exchange (IDX) for 6 years (2015-2020) using the purposive sampling method. This type of research is using descriptive methods and quantitative data analysis. The research data is sourced from secondary data obtained from the IDX website, namely www.IDX.co.id. The analytical technique used is the classical assumption test and multiple linear regression analysis methods. The results show that profitability and liquidity have a positive and significant effect on financial distress. Meanwhile, activity has a negative and insignificant effect on financial distress, and company growth has a positive and insignificant effect on financial distress. Based on the results of the study, the contribution results of this study can be used as a basis or consideration for the company's efforts to avoid financial distress. Through efforts to understand the impact of increasing profitability, liquidity, activity, and company growth on financial distress.


    • Faculty Development Program in Public Secondary Schools: Challenges and Prospects of Concerned Teachers
      Original Research Article
      Country Philippines
    • Pages 365-415
    • Leah R. Guirigay || Eugenio S. Guhao Jr.
    • Abstract | pdf Pdf
    • The purpose of this undertaking was to describe the challenges and prospects of concerned teachers on the faculty development program (FDP) in public secondary schools. Qualitative Phenomenological design was employed to the public secondary school teachers of Compostela Valley Division. In depth interviews and focused group discussions were conducted. The results of the interview were transcribed, translated and coded to produce themes. As regards to the experiences of the teachers on their school-based FDP, the following were the themes: anchored on the teachers’ training needs, sporadic and arbitrary, ambiguous, lackluster, not properly communicated and inadequately funded. Imploring positive psychology was helpful in coping up with the experienced challenges, hence the following themes emerged: self-directed learning and initiative; ingenuity; optimism and positivity; network and alliance-building. The participants decipher that FDP can work holistically, should be based on a framework, be enforced and reinforced, consultative and participative and finally, amply funded.


    • Impact of digital transformation on SMEs’ innovation capability and business performance: The case of Vietnam
      Original Research Article
      Country Vietnam
    • Pages 416-426
    • Thi Hong Thanh Nguyen || Song Thuong Pham || Thi Mo Phan || Thi Kim Cuc Nguyen || Ngan Giang Hoang || Thi Dong Do
    • Abstract | pdf Pdf
    • As competition intensifies, businesses are constantly adapting and evolving in response to the changing business landscape. The adoption of advanced digital technologies has become crucial for companies to remain competitive. In light of this, it is no longer enough to merely debate and experiment with the impact of digital transformation and Industry 4.0; action must be taken. This study aimed to explore the role of digital transformation in small and medium-sized enterprises (SMEs) in Vietnam, with a focus on factors such as digitization, connectivity, digital transformation of business models, and digital transformation of processes. A survey was conducted among 306 SMEs in Vietnam, and the study examined the relationship between digital transformation, innovation capability and business performance. The results indicate that the aforementioned factors have a positive impact on the business performance of SMEs in Vietnam. To help business managers allocate resources towards technology infrastructure development, the authors propose some implications based on the study's findings.


    • Absence of Master Teachers in Non Central Schools: Perspective of School Heads
      Original Research Article
      Country Philippines
    • Pages 427-464
    • Chelo Hazel Ann F. Bayani || Eugenio S. Guhao, Jr.
    • Abstract | pdf Pdf
    • The purpose of this study was to describe the experiences of school heads in the absence of master teachers in their particular school setting. Illustrated also in this study is how school heads responded, managed and gained insights in fostering quality school curriculum despite the absence of master teachers. Qualitative Phenomenological approach was employed to 14 school heads of the Division of Compostela Valley. In depth interviews and focused group discussions were conducted. The results of the interview were transcribed, translated and coded to produce themes. As regards to perspective of school heads on the absence of master teachers the following themes were generated: Under the experiences coming from the School Heads five major themes emerged; Resiliency in the field, burdened and weight down, reduced ability to deliver, limited mentoring and coaching and indisposition of teachers. Whereas under the coping mechanism the following themes where observed; delegation, multitasking, ingenuity and resourcefulness, establishing good rapport, strengthening faculty development. As to their insights, the themes gained were: must be avoided whenever possible, disadvantageous but not deleterious, mitigated by delegating, alleviated by being creative. Hence, study implied that a school head‟s task is crucial in the overall functionality of the school it also determines the learning outcomes of the learner. Moreover, managing schools without MTs would mean an extra load placed on the shoulders of the school heads, the rest of those that they cannot anymore handle were delegated to the teachers but with appropriate managerial strategies a school head can successfully surpassed the given situation.


    • Financial Attitude, Marketing Strategy, Locus of Control, And Self-Efficacy on MSME Performance
      Original Research Article
      Country Indonesia
    • Pages 465-478
    • Eskasari Putri || Bandi
    • Abstract | pdf Pdf
    • Financial performance is one of the tools that can be used to measure the success of a business, but this pandemic has many tests that must be faced by MSMEs which of course have an impact on MSME performance. Whereas before the pandemic occurred, MSMEs had difficulties in managing finances because most MSMEs considered it not too important to present systematic finances, they thought that their businesses were still too small. With this pandemic, extra steps or strategies are needed to restore and manage financial performance properly. This quantitative study aims to analyze survival strategies (financial attitudes, marketing strategies, locus of control, and self-efficacy) on the performance of MSMEs. This study involved 50 respondents (SMEs) in Surakarta as research subjects. Collecting data using a survey method with interview techniques using a questionnaire. The collected data were analyzed using SPSS software by performing instrument tests, classical assumption tests, and hypothesis testing. The results of this study inform that 1) Financial attitudes do not affect the performance of MSMEs, 2) Marketing strategy affects the performance of MSMEs, 3) Locus of control affects the performance of MSMEs, and 4) Self-efficacy affects the performance of MSMEs.Following up on the findings of this study, it is hoped that in the future MSMEs will be able to optimize financial management, and competitive strategies well, and further optimize the importance of self-confidence (locus of control and self-efficacy) in business implementation.


    • Fund-Specific Factors and Financial Performance of Mutual Funds in Kenya
      Original Research Article
      Country Kenya
    • Pages 479-488
    • Nyabuto Kwamboka Susan || Peter Wang’ombe Kariuki
    • Abstract | pdf Pdf
    • The study sought to evaluate the effect of fund specific factors on financial performance of mutual funds in Kenya. Specifically, the study sought to determine the effect of size, age, diversification and management efficiency of the fund on the financial performance of mutual funds in Kenya. The data collected was analysed using both descriptive and inferential statistical techniques. The study was based on panel data regression models given the data had cross sectional and time series aspects. The study eventually adopted Panel Correlated Standard Errors model to eliminate the serial correlation and group heteroskedasticity. The study established that the overall p-value associated with F-statistic was lower than 0.05 hence it was concluded that fund specific factors and other covariates had a significant effect on financial performance of mutual funds in Kenya. Regarding specific individual variables, the study revealed that the effect of fund size on financial performance of mutual funds was major and direct. Fund age directly but not significantly explained financial performance of mutual funds in Kenya. The regression also revealed that fund diversification had a direct and significant effect on financial performance of mutual funds. Finally, the effect of fund management efficiency on financial performance of mutual funds was inverse and major. The study makes recommendations based on study findings and conclusions. First, the study recommends to fund managers to increase the size of funds through aggressively marketing their funds to the general public to attract additional funding. Second, the research recommends to fund managers to continue diversifying the specific funds under their management in line with respective laws by spreading the pooled funds over a number of financial assets including shares, government securities, deposits in financial institutions, commercial papers among other assets. Third, the study suggests to fund managers to improve their efficiency. The fund managers should eliminate any wastages and ineffectiveness that may results to increased management cost of the fund.


    • Implementation of Clinical Supervision from the Standpoint of School Heads
      Original Research Article
      Country Philippines
    • Pages 489-527
    • SYLVIA R. KIRAM || EUGENIO S. GUHAO Jr
    • INTRODUCTION | pdf Pdf
    • Majority of those who are designated to conduct class supervision appear inexperienced, uncertified and unspecialized to conduct supervision practices properly and efficiently. Thus, the supervisory activities are suffering from lack of expertise, this affect the overall supervision activities. Supervisors do not seem to play the various roles expected of them, roles related to staff development, teachers performance appraisal, curriculum development and improvement , observational activities and the like seem not being practiced. As a result, the teachers have negative perception towards supervision; and it definitely affects teacher satisfaction with supervision (Abay,2010; Kedir&Geleta, 2017). The best method of supervision for enhancing teachers' effectiveness is clinical supervision. Knowledge has advanced significantly in the modern day, resulting in new technology methods of teaching and learning. The rise of the information and knowledge-based society has, however, brought about a shift in the way people think about learning, and new methods to learning call for new approaches to teaching that put the teacher's function as a learning facilitator to the test (Borders, 2019; Russell, 2019; Yousuf et al., 2011).


    • The Implementation of the Special Science Curriculum: Voices of Concerned Teachers
      Original Research Article
      Country Philippines
    • Pages 528-535
    • Paz Eugenia S. Villocino || Eugenio S. Guhao, DM
    • Abstract | pdf Pdf
    • This study aimed to picture out the implementation of the Special Science Curriculum from the teacher-implementers’ point of view. 21 teachers from the different Science, Technology and Engineering-implementing schools from Region XI who served as the In-depth interview and focus group discussion participants. Their experiences included the opportunity to facilitate a special breed of learners, intensive groundwork for discipline, lack of instructional supply, need of training for the teacher-enablers, lack of supervision, regulation and control, and students’ lack of singular focus. The coping mechanisms for the challenges they encountered included involvement in faculty development and formation, communicating with proper authorities, having initiative and self-motivation, and optimism and openness. Insights gathered included a need for a specialized formation of the teacher-implementers, provision of enabling facilities and technical support, a revisit of the criteria for student selection, and the teacher-implementer should be well-equipped and steadfast. As a general impression, resiliency in the field of teaching in the SSC is hard to achieve especially when the teachers are facing students who are expecting a lot from them.


    • Analysis of Faktors Affecting Firm Value
      Original Research Article
      Country Indonesia
    • Pages 536-546
    • Nabila Azhari || Erma Setiawati
    • Abstract | pdf Pdf
    • This study aims to analyze the effect of profitability, likuidity, leverage, company size and dividend policy on firm value. The research method used in this research in quantitative method with secondary dara obtained from the company”s official website and the IDX official website (www.idx.co.id). The population in study were LQ45 indekx companies for the 2017-2021 period. Sampling using purposive sampling technique with certain criteria. The tests used in this study are classical assumtion tests and hypothesis testing with multiple linear analysis. The result showed that profitability has an effect on firm value. While liquidity, leverage, company size, and divident policy have no effect on firm value.


    • The effect of Training on Employee Satisfaction with the Mediating Role of Strategic Human Resources Management
      Original Research Article
      Country Indonesia
    • Pages 547-567
    • Mahmoud Fakhraei
    • Abstract | pdf Pdf
    • Training is a focused and time-framed activity that helps creating more interpersonal and organizational skills and change behaviors, it leads to employee satisfaction, which ultimately improves individual, team, and organizational performance. So it is important to consider the right strategy as well as the process of strategic human resource management for it. The present study was conducted with the aim of studying the effect of training on employee satisfaction with the mediating role of strategic human resource management in Farabi Petrochemical Company. The data collection tool is a standard questionnaire that its validity was confirmed by content validity (experts' opinion) and convergent and divergent validity was calculated higher than 0.4; the reliability was calculated by Cronbach's alpha test and composite reliability higher than 0.7. SPSS 22 and SmartPLS 3 software were used to analyze the collected data. The results showed that the effect of training on employee satisfaction was confirmed, as the economic condiions are not the only cause of employee departure. On the other hand, one of the strategic human resource management programs is the development of employee skills. As a result, it has a mediating effect on the relationship between training and employee satisfaction.


    • Determinants of Regional Own Revenue Gain in Regencies/Cities in Central Java 2018-2020
      Original Research Article
      Country Indonesia
    • Pages 568-576
    • Viola Anggraini Harmaning Tias || Mahameru Rosy Rochmatullah
    • Abstract | pdf Pdf
    • The purpose of this research is to analyze and find empirical evidence regarding the effects of unemployment, poverty, economic growth, capital expenditures, and education on regional original income in Central Java districts/cities in 2018-2020. The population in this study is district/city governments in Central Java in the 2018-2020 budget period. The sample in this study was district/city governments in Central Java in the 2018-2020 budget period, using purposive side as a sampling technique, a research sample of 105 samples was obtained from 35 districts/cities in Central Java for 3 years by employing regression analysist. The results of the study prove empirically that unemployment, economic growth, capital expenditures, and education have a significant effect on regional original income. The result imply that for variable are that dependent of local government.


    • Study on Impact of Training and Development in Higher Education Sector for Academicians
      Original Research Article
      Country INDIA
    • Pages 577-583
    • Ms. Prithvi Heggade M P || Ms. Soumyalatha
    • Abstract | pdf Pdf
    • Higher education plays a pivot role in the individuals learning career, qualification without relevant skills may lead to great disaster in the learner career. Hence, the academicians must be updated to the market trends and according he must train the learner. Training and development is the segment which familiarises the academicians to the relevant changes in the P.E.S.T. environment. This research paper throws a light on how training and development helps the academicians to know about the changes in the political, economic, social and technological environment and how better they can train the young minds to meet the market requirements and reach the greater heights in their career. The research paper aims to study the impact of training and development on academicians’ performance in higher education sector. In education sector it is important for the academicians to update their knowledge according to the relevant market conditions. Hence, continuous training and development has to be provided in turn which helps the academicians to bring a positive change in the learners. It is the responsibility of the academicians to up skill their knowledge through various means i.e. by actively taking part in the various faculty enrichment programs, seminars, workshops and conferences.