IJEBD (International Journal of Entrepreneurship and Business Development)

The Effect of Debt to Equity Ratio and Total Asset Turnover on Return On Asset in Property and Real Estate Sub-Sector Companies Listed on the Indonesia Stock Exchange in the Period 2021-2023

2025-12-04T15:57:20+07:00

Purpose: The research effort is designed to assess the interdependency among the variables specifically, the Debt-to-Equity Ratio (DER) and Total Asset Turnover (TATO) to establish their collective impact on the dependent variable, Return on Assets (ROA). The scope is limited to an examination of financial data from IDX-listed property and real estate entities throughout the three-year timeframe between 2021 and 2023.

Design/methodology/approach: The research employed SPSS (version 26) to conduct the necessary preliminary analyses. These included checks for normality, autocorrelation, multicollinearity, and heteroscedasticity, which are the standard statistical assumptions. The study's hypotheses were evaluated through multiple linear regression analysis, incorporating necessary t-tests and F-tests. The choice of a purposive sampling method was justified on the grounds that it enables the inclusion of only those samples that are most relevant and directly contribute to addressing the specific aims of the investigation.

Findings: A powerful statistical association was identified, indicating that the Return on Assets (ROA) is largely contingent upon the interplay between a firm's Debt-to-Equity Ratio (DER) and its Total Asset Turnover (TATO). This implies that strategic financial decisions such as managing debt to enhance asset utilization and fulfill financial commitments, as indicated by DER, and maximizing revenue and profit generation from assets, as represented by TATO play a direct role in shaping ROA, which serves as a critical indicator of a firm's profitability.

Research limitations/implications: Data collection was strictly confined to the 2021–2023 observation timeframe, with figures sourced entirely from property and real estate firms trading on the Indonesia Stock Exchange (IDX). As a consequence of this focus, the generalizability of the results is inherently constrained; the findings may not be reliably applied to other industrial sectors or alternative time periods. This methodological limitation stems from the acknowledged variance in financial structures, operational models, and distinct market environments that differentiate industries and change significantly across historical eras.

Practical implications: The study's findings can serve as a foundation for financial decisions made by investors and business management, especially when it comes to controlling debt and actions that boost profitability.

Originality/value: The findings from this investigation are anticipated to enhance academic understanding of managerial performance, particularly by detailing how Debt-to-Equity Ratio (DER) and Total Asset Turnover (TATO) exert influence on Return on Assets (ROA) specifically among property and real estate companies.

Paper type: Research Paper

The Influence of Financial Literacy, Business Networking, and Entrepreneurial Orientation on MSME Performance in Surabaya with Market Orientation as a Moderating Variable

2025-12-04T15:57:18+07:00

This study investigates the influence of financial literacy, business networking, and entrepreneurial orientation on the performance of Micro, Small, and Medium Enterprises (MSMEs) in Surabaya, with market orientation as a moderating variable. A quantitative approach was employed, and data were collected through structured questionnaires distributed to 99 MSME owners and managers. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied to analyze the data. The results indicate that financial literacy and entrepreneurial orientation significantly enhance MSME performance, whereas business networking shows no significant impact. Furthermore, market orientation does not moderate the relationship between financial literacy or business networking and MSME performance. These findings highlight the importance of strengthening entrepreneurs’ financial capabilities and entrepreneurial orientation to improve MSME competitiveness and sustainability.

Study on the Effect of Performance Mediation on the Relationship between Work Discipline, Motivation and Compensation on Teacher Quality in Junior High School (SMP) in Kongbeng District

2025-12-04T15:57:20+07:00

Purpose: The purpose of this study is to analyze the influence of work discipline, work motivation, and compensation on teacher performance, as well as their influence on the quality of teacher performance both directly and through the mediation variables of teacher performance in junior high schools (SMP) in Kongbeng District

Design/methodology/approach: This study uses a quantitative approach with a survey method. The sample consisted of 76 junior high school teachers in Kongbeng District who were selected using the purposive sampling technique. Data was collected through a questionnaire that had been validated and analyzed using Structural Equation Modeling (SEM) with the help of SmartPLS software to test the influence of work discipline, motivation, and compensation on teacher quality through performance as a mediating variable.

Findings: The results of the study show that work discipline, motivation, and compensation have a positive and significant effect on teacher performance. Teacher performance also has a positive effect on teacher quality, and significantly mediates the relationship between work discipline, motivation, and compensation and teacher quality.

Research limitations/implications: the use of cross-sectional designs that only describe momentary conditions, the use of self-report questionnaires that have the potential to cause perception bias, and the use of external factors such as leadership, facilities, and organizational culture that may also affect teacher performance and quality.

Practical implications: These findings confirm that improving teacher quality can be achieved not only through direct factors such as motivation and compensation, but also through improved teacher performance. The practical implication is the importance of the role of school management in strengthening work discipline, providing appropriate motivation, and proper compensation to support the overall improvement of teacher performance and quality.

Paper type: Research paper

The Influence of Compensation, Competence, Work Environment, and Job Placement on Employee Per-formance at PT XYZ Cigarette Industry in Pasuruan with Motivation as an Intervening Variable

2025-12-04T15:57:15+07:00

This study aims to examine how compensation, competence, job placement, and work environment influence employee performance, with motivation acting as an intervening variable. The research is conducted within the context of the cigarette industry in Pasuruan, Indonesia. Given the industry's challenges, such as rising excise taxes and regulatory pressures, it is crucial to understand these organizational factors to enhance workforce effectiveness. A quantitative approach was employed, utilizing Partial Least Squares Structural Equation Modeling (PLS-SEM). The study involved 52 technical employees electronic division at PT XYZ, selected through saturated sampling. Data were collected using structured questionnaires and analyzed with SmartPLS 3.0. The findings show that compensation has a significant effect on employee performance. In contrast, competence, work environment, and job placement have no significant direct effect on employee performance. Compensation, competence, and job placement do not significantly affect motivation, while work environment has a significant positive effect on motivation. Furthermore, motivation significantly improves employee performance. Regarding the mediating role of motivation, the results indicate that motivation does not mediate the relationship between compensation and performance, competence and performance, nor job placement and performance. However, motivation is proven to mediate the effect of work environment on performance. These findings emphasize the strategic importance of creating a supportive work environment and enhancing motivation to improve employee performance.

Analysis of Management of Legal Consequences of Service Provider Default on Project Delays: A Legal Study and Relational Approach to Dispute Prevention

2025-12-04T15:57:13+07:00

Delays in construction work execution represent one of the most common forms of default that trigger disputes between employers and contractors. Within Indonesia’s civil law framework, such default entails legal consequences including delay penalties, compensation, contract termination, and enforcement of performance bonds. This study examines these legal implications under the Indonesian Civil Code (KUHPerdata), Law No. 2 of 2017 on Construction Services, and several Supreme Court decisions with permanent legal force namely Decisions No. 294 PK/Pdt/2014, No. 3053 K/Pdt/2011, and No. 60 K/Pdt/2020. The research adopts a normative juridical approach supported by secondary data from literature review and judicial case analysis. It also proposes a dispute-prevention hypothesis founded on effective communication through guanxi, dynamic relationship, and personal approach, aimed at reinforcing loyalty and preventing conflict. The findings reveal that Indonesia’s positive legal system remains sanction-oriented and emphasizes legal certainty, whereas sustainable dispute prevention requires a paradigm grounded in relational trust. Integrating relational approaches into construction contract practice may establish equilibrium between legal certainty and substantive justice.