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1	Accounting and management information system	ABS-31
Social Media Analytic and Big Data Technology to Support Business Decision Making by an E-Commerce Company in Sustainability Fashion: A Content Analysis Study Lucya Erlinda Sonia Faculty of Business and Economics Universitas Surabaya Abstract Objectives: This study aims to analyse how the use of big data from social media through content analysis methods can improve the performance of Echo Thread, an e-commerce company engaged in sustainability fashion. Methods: The research method used in this study is a qualitative content analysis of text data and social media analysis from Echo Thread, as well as website related to the company^s activities in the period 2022 - 2024. The data collected was analysed to identify Echo Thread^s needs in relation to market trends, consumer sentiment, and customer preferences regarding sustainability products and practices. Results: The results show that the utilisation of social media analytic and big data are able to provide valuable insights into the needs and expectations of consumers towards Echo Thread in the performance of improving sustainability fashion. This enables the company to optimise marketing, product development, and communication strategies. Conclusion and Suggestion: The conclusion of this study is that the implementation of social media analytic and big data can effectively contribute significantly to improving the performance of Echo Thread as an e-commerce company in the sustainability fashion sector. Suggestions for future research are to expand the scope of data and analysis methods, as well as to test the impact of the implementation of big data insights on the company^s financial performance metrics directly. Keywords: analytic on social media, big data, decision making, sustainability fashion Share Link | Plain Format | Corresponding Author (Lucya Erlinda Sonia)

2	Accounting and management information system	ABS-41
The Role of Media Exposure and Tax Avoidance on CSR Dosclosure Maya Aresteria, Alfita Rahmayani, Deddy Sulestiyono, Muhammad Syauqal Afwika Sekolah Vokasi Universitas Diponegoro Abstract CSR disclosure is an important activity that stakeholders pay attention to in assessing companies. This study examines how media exposure and tax avoidance influence the extent of CSR disclosure carried out by companies. The test was conducted in the food and beverage company sector, and through the selection of targeted disclosure media, the hope is that there will be public recognition of the company^s legality. Testing using multiple linear regression to test the hypothesis of the influence between variables In this test, it is proven that media exposure in the form of a company website chosen as a media for publishing CSR activities has a significant effect on the extent of CSR disclosure. The second variable tested is tax avoidance, and the test results conclude that there is no significant effect between tax avoidance and the extent of CSR disclosure. Keywords: Media Exposure, Tax Avoidance, CSR Share Link | Plain Format | Corresponding Author (Maya Aresteria)

3	Accounting and management information system	ABS-89
NAVIGATING THE FUTURES OF ACADEMIC FREEDOM: A CRITICAL NETNOGRAPHY OF #ULSB16 Jordan Hotman Ekklesia Sitorus- Hamidah- Anak Agung Gde Satia Utama University of Airlangga Abstract This research is motivated by the decision of the University of Leicester leadership to redundant lecturers and revoke scholarships for students researching political economy and critical perspectives on management and accounting. The redundancy decision led to various critical actions known as the #ULSB16 movement. Therefore, this research aims to examine how the actions of the #ULSB16 movement became a platform to fight for academic freedom while providing suggestions for the future on whether this movement is effective in fighting for academic freedom. We used the critical netnography method to achieve this goal, combining social movement analysis with Gramsci^s theory of hegemony. Based on the analysis results, we found that there are solidarity actions from various groups that aim to fight for academic freedom. These actions are realised through social media and open letters and demonstrations. However, these actions have not been able to change the decision of the university leadership due to the lack of political support. Despite the ineffectiveness of the struggle, the action provides a lesson for the future that political support is needed in the fight for academic freedom and radical research development, not just movements on social media. If such support cannot be obtained, research development can be carried out at independent institutions that are not bound by university rules. Keywords: #ulsb16- academic freedom- redundancy- solidarity Share Link | Plain Format | Corresponding Author (Jordan Hotman Ekklesia Sitorus)

4	Audit	ABS-43
The Impact of Audit Rotation on the Disclosure of Key Audit Matters (KAM) Triana Novitasari, Habiburrochman Habiburrochman Accounting Department, Economics and Business Faculty, Universitas Airlangga Abstract This study examines the effect of audit rotation on the disclosure of Key Audit Matters (KAM) among publicly listed companies on the Indonesia Stock Exchange (IDX) during the 2022-2023 period. Specifically, it analyzes three types of audit rotation: Public Accounting Firm (PAF) rotation, Audit Partner (AP) rotation, and the simultaneous rotation of both PAF and AP. KAM disclosures are assessed based on four dimensions: the number of disclosed items, word count, readability score, and tone. Employing multiple linear regression analysis, the findings reveal that PAF rotation is positively and significantly associated with an increased number of KAM items disclosed. In contrast, simultaneous rotation of both PAF and AP is negatively and significantly associated with the number of KAM items, suggesting a reduction in disclosure. Notably, AP rotation alone does not have a significant impact on KAM item disclosure. Furthermore, none of the three rotation types significantly influence the length, readability, or tone of the KAM disclosures. These results offer practical implications for regulators, auditors, and corporate governance professionals by highlighting the nuanced effects of auditor rotation on audit transparency. The study also contributes to the growing literature on audit reporting effectiveness, particularly within the regulatory framework of Indonesia^s financial reporting landscape. Keywords: Key Audit Matters, Audit Rotation, Public Accounting Firm, Audit Partner, Audit Disclosure Share Link | Plain Format | Corresponding Author (HABIBURROCHMAN HABIBURROCHMAN)

5	Audit	ABS-45
Task Complexity and Audit Judgment: How Locus of Control and Self-Efficacy Shape Auditor Decisions Dian Kusuma Wardhani (*), Rifki Adhi Prasetyo, Eiffeliena Nuranini F P, Remelda Putri Nurdianty Vocational Collage, Business and Finance Department, Diponegoro University Abstract Financial statements are the result of the accounting process, published annually to provide accurate and timely information to stakeholders. Therefore, companies require auditor services to ensure the accuracy and fairness of these financial statements. However, the reputation of auditors, particularly in Indonesia, is often questioned due to the many legal cases involving public accountants. This research aims to analyze the influence of task complexity on audit judgment, considering the moderating effects of locus of control and self-efficacy. The findings of this study are expected to contribute to improving the quality of audit decisions made by auditors. The research method used is quantitative, with data collected through interviews and the distribution of questionnaires to auditors working at Public Accounting Firms (KAP) in Indonesia. The data analysis technique employed is path analysis or Structural Equation Modeling (SEM) using an alternative approach, namely Partial Least Squares (PLS). Keywords: Task Complexity- Audit Judgment- Locus of Control- Self-Efficacy- Auditor. Share Link | Plain Format | Corresponding Author (Dian Kusuma Wardhani)

6	Corporate governance	ABS-17
Strategic Integration of Corporate Social Responsibility (CSR) and Diversity, Equity, and Inclusion (DEI): Enhancing Organizational Legitimacy, Innovation, and Societal Impact through Systematic Literature Review and Empirical Insights Prima Ayu Novita Junianto, Anak Agung Gde Satia Utama Airlangga University Abstract In the contemporary corporate landscape, the integration of Corporate Social Responsibility (CSR) and Diversity, Equity, and Inclusion (DEI) has emerged as a strategic imperative for fostering sustainable growth and enhancing organizational legitimacy. This paper delves into the intricate relationship between CSR and DEI, employing a multidimensional analytical framework that combines an exhaustive literature review with quantitative and qualitative empirical data. Our research aims to dissect the mechanisms through which CSR initiatives can serve as catalysts for advancing DEI within corporate entities and, conversely, how diverse and inclusive environments can augment the effectiveness and authenticity of CSR endeavors. The findings reveal a symbiotic relationship where CSR policies, when strategically aligned with DEI principles, not only promote ethical business practices but also lead to the creation of more inclusive workspaces. This dual enhancement facilitates innovation, drives employee engagement, and fosters stronger community relations. However, the integration process is fraught with challenges such as superficial compliance, tokenism, and resistance to change, necessitating robust governance frameworks and leadership commitment. The paper identifies critical success factors for the effective convergence of CSR and DEI, including the establishment of clear accountability mechanisms, continuous stakeholder engagement, and the implementation of comprehensive diversity training programs. Furthermore, it underscores the importance of embedding DEI considerations into the core CSR strategies, thereby ensuring that diversity and inclusion are not mere adjuncts but integral components of corporate social responsibility. Our analysis extends to the broader societal implications, suggesting that corporations with a genuine commitment to CSR and DEI are better positioned to address systemic inequalities and contribute to societal well-being. By proposing a model that integrates CSR and DEI at both strategic and operational levels, this paper provides actionable insights for policymakers, corporate leaders, and practitioners seeking to harness the full potential of these paradigms. The research concludes that an integrated approach not only enhances corporate performance but also generates substantial social capital, thus aligning business objectives with broader societal goals. Keywords: Corporate Social Responsibility, Diversity, Equity, and Inclusion, Strategic Integration, Organizational Performance Share Link | Plain Format | Corresponding Author (Prima Ayu Novita Junianto)

7	Corporate governance	ABS-58
Environmental, Social, and Governance (ESG) and Stock Price Volatility: The Moderating Role of Foreign Ownership in ASEAN-5 Countries Intan Dyah Pitaloka Gadjah Mada University Abstract This study examines the impact of Environmental, Social, and Governance (ESG) performance on stock price volatility in five ASEAN countries: Indonesia, Malaysia, Thailand, the Philippines, and Singapore. In light of the growing relevance of ESG in capital markets, especially in Southeast Asia, this research further investigates whether foreign ownership moderates the relationship between each ESG pillar and stock price volatility. The study addresses a research gap in the regional literature by focusing not only on ESG^s direct role in mitigating market risk, but also on the complex interaction with foreign investor participation across both emerging and developed ASEAN markets, which differ significantly in institutional maturity, investor behavior, and regulatory frameworks. The research utilizes a panel dataset of 191 publicly listed firms from the five countries during the period 2017 to 2023. ESG pillar scores-Environmental, Social, and Governance-were obtained from Refinitiv and used as independent variables. Stock price volatility is measured as the annualized standard deviation of daily stock returns, representing a forward-looking measure of market risk commonly used in financial risk assessment. Foreign ownership data were collected from the Worldscope database, also via Refinitiv, and employed as a moderating variable to examine whether international investor participation amplifies or weakens the effect of ESG on price stability. Control variables include firm-level financial indicators such as leverage, return on assets (ROA), firm size, Tobin^s Q, and a dummy variable for the COVID-19 crisis to account for external macroeconomic shocks. Fixed effects panel regression was applied to control for unobserved heterogeneity across firms and over time. The empirical findings reveal that all three ESG pillars significantly and negatively affect stock price volatility. This indicates that firms with better ESG performance are generally associated with more stable stock returns in the ASEAN-5 region. However, the interaction effects between foreign ownership and each ESG pillar are statistically insignificant. These results suggest that foreign ownership does not consistently enhance the stabilizing influence of ESG practices on stock volatility, contrary to expectations based on previous literature. The results remain robust after controlling for firm-specific characteristics and external crises. In conclusion, this study provides new regional evidence on the stabilizing role of ESG practices in stock markets, reinforcing the argument that ESG contributes to risk mitigation and more sustainable market behavior. However, it also highlights that the assumed amplifying role of foreign ownership may not be uniformly applicable in Southeast Asian capital markets, where institutional environments and investor preferences vary considerably. The inclusion of Singapore, a developed market, further enriches the regional comparison by offering a benchmark for more mature financial systems. These findings offer valuable implications for policymakers, institutional investors, and corporate managers committed to advancing sustainable investment practices and strengthening financial resilience. Keywords: ESG, stock volatility, foreign ownership, ASEAN-5, panel data, sustainable finance Share Link | Plain Format | Corresponding Author (Intan Dyah Pitaloka)

8	Corporate governance	ABS-95
FEMALE DIRECTORS AND FIRM PERFORMANCE: THE MODERATING ROLE OF FAMILY OWNERSHIP? Atika Zarefar, Arumega Zarefar, Andreas Tan, Anasthasya Tiffany, Nadilla, Fitri Ramadhan Department of Accounting, Faculty of Economics and Business, Universitas Riau Department of Accounting, Faculty of Economics and Business, Universitas Riau Department of Accounting, Faculty of Economics and Business, Universitas Riau Student of Diploma 3 Taxation Study Program, Faculty of Economics and Business, Universitas Riau Student of Diploma 3 Accounting Study Program, Faculty of Economics and Business, Universitas Riau Students of Accounting Professional Study Program, Faculty of Economics and Business, Universitas Riau Abstract Purposes: This study aims to empirically examine the influence of female directors on the performance of companies with family ownership as a moderation variable. Methods: The sample of this study consists of 5139 total observations of companies listed on the Indonesia Stock Exchange from 2010 to 2022. The analysis technique used to test the hypothesis is panel data regression. Results: The findings of this study reveal that female directors significantly improve company performance. However, family ownership is not significant in moderating the relationship between female directors and company performance. Conclusion and suggestion: An interesting finding is that female directors improve company performance. The nature and ability of women to carry out their roles as directors have a positive impact on the company. However, other findings of the study revealed that family ownership did not reinforce the positive influence of female directors on company performance. Further research has the opportunity to develop measurements related to these variables to test the research model. Keywords: Agency Theory, Family Ownership, Female Director, Firm Performance Share Link | Plain Format | Corresponding Author (atika zarefar)

9	Corporate governance	ABS-104
A Study On The Evolution Of Corporate Governance Definitions And Measurement Methods Suryani Srijayanti (a), Arumega Zarefar (b), Novita Indrawati (c), Rheny Afriana Hanif (d), Restu Agusti (e) ,Desmiyanti (f) a) Students of Master Accounting Study Program, Faculty of Economics and Business, Universitas Riau b) Department of Accounting, Faculty of Economics and Business, Universitas Riau c) Department of Accounting, Faculty of Economics and Business, Universitas Riau d) Department of Accounting, Faculty of Economics and Business, Universitas Riau e) Department of Accounting, Faculty of Economics and Business, Universitas Riau f) Department of Accounting, Faculty of Economics and Business, Universitas Riau Abstract Purposes: This study examines Corporate Governance (CG), aims to map the diverse definitions and measurements of CG, given the absence of a single, universally applicable definition. Methods: The methodology employed is a literature review, which includes qualitative data analysis from various sources, including books, journals, and related reports. Results: The study^s findings indicate that the definition of CG varies depending on the context and source- however, it is generally understood as a system that regulates and oversees companies to ensure proper and accountable management. Additionally, this research identifies various proxies used by previous researchers in measuring CG, reflecting the complexity and dynamics involved in its implementation Conclusion and suggestion: the findings will contribute to academics and researchers in formulating more effective CG measurements in the future. Keywords: Corporate Governance-Cadbury Report-CG Definition & Measurement-and literature review. Share Link | Plain Format | Corresponding Author (Suryani Srijayanti)

10	Development economics	ABS-4
Nowcasting Indonesian Economic Growth at Risk with MIDAS-Quantile Regression Turfah Latifah (a), Muhammad Sjahid Akbar (b*), Dedy Dwi Prastyo (c) Department of Statistics, Faculty of Science and Data Analytics, Institut Teknologi Sepuluh Nopember (ITS), Jl. Teknik Mesin 175 Sukolilo, Surabaya, 60111, Indonesia * m_syahid_a[at]statistika.its.ac.id Abstract This study aims to nowcast Indonesian economic growth using the Growth at Risk (GaR) model based on Mixed Data Sampling-Quantile Regression (MIDAS-QR). The MIDAS-QR approach enables the prediction of economic growth risks at various quantile levels, thus providing an overview of the best and worst-case scenarios. This approach integrates multi-frequency data grouped into the Financial Conditions Index (FCI), External Financial Environment Index (EFEI), and Macroeconomic Prosperity Leading Index (MPLI) using Principal Component Analysis (PCA). The model is evaluated using Quantile Mean Absolute Error (QMAE) and Quantile Root Mean Squared Error (QRMSE) to measure prediction accuracy. The findings reveal that the MIDAS-QR model significantly enhances the accuracy of predicting GaR for Indonesian GDP compared to conventional models based on the QMAE and QRMSE metrics. The model effectively captures the risk dynamics at various quantile levels, particularly upside and downside risks, demonstrating a reduction in prediction errors compared to traditional methods. The integration of high-frequency data through FCI, EFEI, and MPLI allows for timely detection of potential downturns, providing critical insights for policymakers to take preemptive actions. This study underscores the importance of utilizing high-frequency data in economic forecasting to improve policymaking effectiveness in Indonesia. The MIDAS-QR model not only enhances the accuracy of GDP growth predictions but also serves as a valuable tool for assessing economic risks, real-time monitoring, and decision-making, especially in times of economic uncertainty. Keywords: Indonesian Economic Growth at Risk (GaR), MIDAS-Quantile Regression, Principal Component Analysis (PCA), Quantile Mean Absolute Error (QMAE), Quantile Root Mean Squared Error (QRMSE) Share Link | Plain Format | Corresponding Author (Turfah Latifah)

11	Development economics	ABS-18
Unemployment Dynamics in Decentralized Indonesia: The Role of Basic Technology, Household Investment, and Regional Poverty Zainul Hasan, Dyah Wulan Sari Faculty of Economics and Business,Airlangga University, Indonesia Abstract This study aims to analyze the factors that influence the unemployment rate at the district and city levels in Indonesia during the period 2010-2019. Using panel data from the Indonesia Database for Policy and Economic Research (INDO-DAPOER), this study applies a fixed effects model with clustered standard errors to identify the influence of economic, social, and basic technological variables on interregional unemployment variation. The results of the analysis indicate that economic growth has a significant negative effect on unemployment, confirming the role of growth in job creation. Literacy rates begin to show a significant effect after the inclusion of control variables, indicating the importance of education in the long term. Conversely, poverty shows a positive and consistent relationship with unemployment, revealing the structural link between the two issues. The variable of access to electricity-used as a proxy for basic technology-has a significant negative effect on unemployment rates. This indicates that the availability of basic technology promotes increased productivity and expanded access to economic opportunities. In addition, access to clean water and sanitation also contributes to reducing unemployment. Household spending on education and health has been shown to significantly reduce unemployment, reflecting that individual investment in human capital can reduce unemployment. The interaction between poverty and access to electricity indicates that increasing access to electricity can reduce the negative effects of poverty on unemployment. These findings emphasize the importance of locally-based policies that promote the expansion of basic technology and increase household capacity as a strategy for sustainable unemployment reduction. Keywords: Unemployment- Poverty rate- Technology- Household Expenditure- Literacy Rate Share Link | Plain Format | Corresponding Author (Zainul Hasan)

12	Development economics	ABS-22
Are Indonesian Women Happy Working in Informal Jobs? Magdalena Triasih Dumauli Department of Economics, Faculty of Economics and Business, Universitas Airlangga Abstract This study analyzes the influence of informal employment status on job satisfaction among Indonesian women. Using data from the 2014 Indonesia Family Life Survey (IFLS) and an ordered logit model, the results indicate that women in informal jobs report higher levels of job satisfaction compared to men in the same sector. However, among female workers, being employed informally does not significantly affect their job satisfaction compared to their female counterparts in formal employment. Keywords: Job satisfaction, Informal jobs, Indonesia Share Link | Plain Format | Corresponding Author (Magdalena Triasih Dumauli)

13	Development economics	ABS-23
Analysis of Factors Affecting the Human Development Index in the 15 Countries with the Highest Human Development Index in the World Lestari Sukarniati(a), Arnufan Deni Marwanto(a*), Dito Wijaytno(a), Maya Nur Cholida(a), Dwi Apriliana(a) Development Economics, Faculty of Economics and Business, Ahmad Dahlan University Jalan Kapas No. 9, Semaki, Kec. Umbulharjo, Kota Yogyakarta, Daerah Istimewa Yogyakarta 55166, Indonesia *2200010170[at]webmail.uad.ac.id Abstract This research aims to analyze the factor that influence the Human Development Index in 15 countries with the highest Human Development Index in the world. The focus of the analysis includes Economic Growth, Foreign Investment, Government Expenditures in Health Sector, Government Expenditures in Education Sector, and Labor Force. The results of this analysis can provide new insights for the government to adopt more comprehensive and effective development policies and strategies. The reason for choosing the Human Development Index in the 15 countries with the highest index because attention to countries with the highest Human Development Index is increasing. This country is often a role model in achieving sustainable development with high levels of welfare, education and health. This research uses quantitative methods with panel data type. The variables Human Development Index, Economic Growth, Foreign Investment, Government Expenditure in the Health Sector, Government Expenditure in the Education Sector, and Labor Force are sourced from the World Bank. The results of this research show that the variables Economic Growth, Government Expenditure in the Health Sector, Government Expenditure in the Education Sector, and Labor Force have a significant positive influence on the Human Development Index in 15 countries with the highest Human Development Index (HDI) throughout the world. Meanwhile, the Foreign Investment variable has a significant negative effect on the Human Development Index in 15 countries with the highest Human Development Index (HDI) throughout the world. Keywords: Economic Growth, Foreign Investment, Government Expenditures in Health Sector, Government Expenditures in Education Sector, and Labor Force Share Link | Plain Format | Corresponding Author (Arnufan Deni Marwanto)

14	Development economics	ABS-69
Resilient but Vulnerable: Climate Change Adaptation Among Female Salt Farmers in Madura Romi Bhakti Hartarto (a*), Nita Viviani Nurhanifah (b), Tri Anggoro (b), Riskiadi (c), Ibnu Hajar (d) a) Department of Economics, Universitas Muhammadiyah Yogyakarta b) Master of Economics, Universitas Muhammadiyah Yogyakarta c) Department of Management, Universitas Muhammadiyah Yogyakarta d) Department of Economics, Ar-Raniry State Islamic University Abstract Climate change has become an urgent global issue affecting various economic sectors, including traditional salt farming in Madura. Female salt farmers have developed adaptive strategies to cope with climate change- however, limited institutional support and policy interventions exacerbate their vulnerability. This study aims to (1) explore female salt farmers^ experiences and perceptions regarding climate change, (2) analyze their adaptive strategies to sustain salt production, and (3) identify policy interventions that could enhance their livelihoods^ resilience. Using a qualitative approach, this research examines four female salt farmers in Sampang Regency, one of the main salt-producing regions in Madura. Data were collected through in-depth interviews with female salt farmers across four coastal sub-districts: Sreseh, Torjun, Pangarengan, and Camplong. Additional interviews with two male salt farmers, a community leader, and a representative from the Fisheries Department provided triangulation to validate findings. The study reveals that climate change has significantly altered salt production cycles, forcing farmers to shift their operations or seek alternative livelihoods during unfavorable weather conditions. One notable adaptation strategy is to convert salt ponds into fish-farming areas during the rainy season, providing an alternative income source. However, most female salt farmers rely on informal networks and personal experience rather than structured climate adaptation training. Furthermore, while the local government has introduced initiatives such as the formation of a regionally owned enterprise to stabilize salt prices, their effectiveness remains limited due to inadequate farmer participation. Keywords: Climate Change, Gender, Salt Farmers, Adaptation Strategies, Madura Share Link | Plain Format | Corresponding Author (Romi Bhakti Hartarto)

15	Development economics	ABS-81
The Foundation of Food Security: Agricultural Production and Credit Shape Asia^s Progress Towards Zero Hunger Linda Rosalina (a*), Wisnu Wibowo (a), Balqis Salma Amelia (a) Faculty of Economics and Business, Airlangga University, Jl. Airlangga No.4, Surabaya 60286, Indonesia *linda.rosalina-2023[at]feb.unair.ac.id Abstract The agricultural sector constitutes a primary economic pillar in numerous Asian nations. Nevertheless, food insecurity remains a substantial challenge across this region. The advancement of the agricultural sector is frequently impeded by various constraints, including restricted access to capital. This research aims to analyze the impact of agricultural production and agricultural credit on food security, quantified by the 2nd Sustainable Development Goal (SDG 2) score (Zero Hunger), across 23 Asian countries, utilizing panel data spanning the period from 2000 to 2023. To investigate long-term effects and account for potential cross-country heterogeneity, this study employs the Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) panel data methodologies. The findings of this research indicate that agricultural sector production and agricultural credit exert a positive and statistically significant influence on SDG 2 within the Asian country group. Consequently, the implementation of policies prioritizing the enhancement of sustainable agricultural production and the expansion of inclusive credit access for the agricultural sector is crucial for accelerating the attainment of the Zero Hunger target in Asia. Keywords: agricultural production, agricultural credit, zero hunger Share Link | Plain Format | Corresponding Author (Linda Rosalina)

16	Development economics	ABS-91
Mismatch in Two Dimensions: Wage Effects of Education-Job Mismatch among Vocational Senior High School Graduates in Indonesia Noa Yokogawa Graduate School of International Cooperation Studies, Kobe University Abstract Vocational education is vital for economic development, especially in emerging economies, as it equips individuals with job-ready skills. However, misalignment with labor market demands often leads to education-job mismatches. This study focuses on two types of mismatch: horizontal mismatch, where workers are employed outside their field of study, and vertical mismatch, where individuals have more or less education than required. In Indonesia, about 60% of vocational senior high school graduates experience horizontal mismatch. Regarding vertical mismatch, 82% are matched, 2.81% are undereducated, and 15.11% are overeducated. Using data from the August 2023 Indonesia Labor Force Survey (SAKERNAS), we examine the wage effects of these mismatches and their gender differences. Ordinary Least Squares (OLS) and Heckman selection models are applied to address potential sample selection bias due to the exclusion of non-wage earners. Mismatch categories (Match, Weak Match, and Mismatch) are defined based on the Job Analysis method, which compares educational backgrounds with job requirements. The results show that horizontal mismatch leads to wage penalties: fully mismatched workers earn 6% less, and weakly matched workers 3% less than matched peers. Vertical mismatch reveals contrasting effects: undereducation yields a wage premium of 20.6%, while overeducation incurs a 13.6% penalty. Gender analysis indicates that males face penalties in both weak and full mismatch, whereas females are penalized only in full mismatch scenarios. These findings support job assignment theory, suggesting that mismatches, particularly horizontal ones, reduce productivity. However, the wage premium for undereducated workers and the mixed effects of overeducation highlight the role of broader labor market dynamics. Evaluating vocational education outcomes requires attention to both individual mismatch and external labor market conditions. Keywords: Vocational Education, Labor Market, Education-job Mismatch Share Link | Plain Format | Corresponding Author (Noa Yokogawa)

17	Development economics	ABS-103
Coping Farmers^ Commitment for Sustainable Farming in the Indonesia Geographical Indication for Coffee Lyla Rachmaningtyas1, Rudi Purwono2 Airlangga University Abstract In the global coffee industry, ethical sourcing consideration has motivated the development of sustainability coffee schemes. Therefore, farmers^ commitment to sustainable farming practices is an important foundation this development. However, commitment-related studies are mainly focused on traders and consumers^ point of views. Empirical studies on the practices commitment on the scheme adoption were frequently based on either the behavioural adoption. Thus, there is a challenge to incorporate moral development and physiological attachment, in the attribute of commitment. The Kintamani Bali Arabica Coffee (KBAC) scheme is the first Indonesia geographical indication practice implementing sustainable coffee scheme offers an empirical case to fill these gaps. This study therefore aims to analyse the contribution of KBAC participation, moral development and physiological attachment, in farmers^ commitment to sustainable farming practices. Applying Partial Least Squares Structural Equation Modelling, the estimation was conducted based on primary data from farmers^ household survey involving over 300 respondents in Bangli Regency, Bali, and several interesting findings were discovered. According to the study results, investment size, expected relationship, self-identity, satisfaction, locus control and quality alternative, significantly influence commitment in implementing farming practices. However, simply participating in the KBAC scheme does not necessarily imply a significant effect on farmer^s commitment. The overall findings suggest several policy implications, including the scheme^s network^s significance in supporting farmers to initiate substantial investment, redeveloping KBAC institutional arrangement, and maintaining market channels, to assure the benefit of sustainable farming practices. Keywords: commitment, sustainable farming, interactionist model, investment model Share Link | Plain Format | Corresponding Author (Lyla Rachmaningtyas)

18	Development economics	ABS-106
Can New Graduates Enter Middle-Class Jobs During The Covid-19 Pandemic in Bali? Luh Gede Meydianawathi- I Gusti Agung Ayu Apsari Anandari- Ni Ketut Budiningsih- Made Sinthya Aryasthini M. Faculty of Economics and Business, Universitas Udayana Abstract A middle-class job is defined as a job that pays a level of income and gives a certain level of job satisfaction, benefits, and security commensurate with the expectations of a middle-class population (The World Bank, 2021). Meanwhile, Bali^s performance in encouraging the growth of middle-class jobs is still relatively low, particularly for youth (new graduates), which is considered crucial in economic development. Using the 2019 and 2021 National Labor Force Surveys (Sakernas), this study examines the possibility of new graduates entering middle-class jobs in Indonesia and the socioeconomic factors that may be driving the process during and post COVID-19 pandemic. By employing a logit model, we hypothesizes that new graduates have a lower chance of becoming middle-class workers in both periods. This study also shows a greater chance of becoming middle-class workers to new graduating males during the pandemic than in the previous period. Besides gender, other characteristics that can increase the opportunities to enter middle-class jobs are living in urban areas, having higher education, and being married. In addition, three dominant sectors support middle-class jobs for new graduates: service activities. Keywords: middle-class jobs, SAKERNAS, youth, new graduates Share Link | Plain Format | Corresponding Author (Luh Gede Meydianawathi)

19	Development economics	ABS-107
ANALYSIS OF SAVING BEHAVIOR IN INDONESIA: DOES DIGITAL FINANCIAL INCLUSION ENCOURAGE PRIVATE SAVING ? Ida Ayu Meisthya Pratiwi I Wayan Sukadana I Made Putra Yasa Ida Ayu Gde Dyastari Saskara I Made Endra Kartika Yudha Faculty of Economics and Business Udayana University Abstract This study aims to analyze the impact of digital financial inclusion on household saving behavior in Indonesia, while also considering macroeconomic factors such as disposable income growth, per capita income, savings interest rates, inflation, and bank density. Using annual time series data from 2012 to 2023, the analysis employs Ordinary Least Squares (OLS) regression. The results indicate that digital financial inclusion has a positive and statistically significant effect on saving behavior, suggesting that the adoption of financial technologies such as e-wallets and mobile banking promotes a culture of saving. Additionally, per capita income emerges as the strongest predictor of savings, followed by a significant positive effect from disposable income growth. In contrast, inflation has a significant negative effect on savings, while savings interest rates and bank density are found to be statistically insignificant. These findings highlight the importance of strengthening digital financial literacy and developing inclusive digital financial infrastructure to enhance household saving and improve national economic resilience. Keywords: Inclusion digital finance , savings society , growth income disposable , per capita income , inflation , interest rates flower savings , bank density. Share Link | Plain Format | Corresponding Author (Ida Ayu Meisthya Pratiwi)

20	Entrepreneurship and small medium entreprises	ABS-5
Exploring the Role of Foreign Ownership, Absorptive Capacity, Imported Inputs on Efficiency, and Spillovers on Local Firm Across Industrial Technology Levels Haura Azzahra Tarbiyah Islamiya, Zainul Hasan, Dyah Wulan Sari Universitas Airlangga Abstract This study explores the role of absorptive capacity, foreign ownership, and imported inputs in shaping the technical efficiency (TE) of Indonesian manufacturing firms across different technology levels (high, medium, and low). Using firm-level data from 2017 to 2019, the research employs Stochastic Frontier Analysis (SFA) to examine the impact of these factors on TE. The findings reveal that foreign ownership has no significant effect on TE in high-tech industries, while foreign-owned firms exhibit greater efficiency than domestic firms in medium and low-tech sectors. Additionally, foreign firms help reduce inefficiencies among domestic counterparts in these sectors but increase inefficiency in high-tech industries. Absorptive capacity negatively influences technical inefficiency across all technology levels, yet the study finds no support for the ^learning by exporting^ hypothesis. Imported inputs are associated with lower inefficiency in firms at all technology levels. Interestingly, higher absorptive capacity in foreign-owned firms reduces efficiency in medium and low-tech industries but has no effect in high-tech industries. Based on these results, the study suggests that the Indonesian government should focus on protecting and enhancing the quality of domestic inputs, while tailoring policies for foreign capital based on the technological level of industries to maximize local economic benefits. Keywords: sustainable industrialization, industry technology level, absorptive capacity, imported input, spillovers Share Link | Plain Format | Corresponding Author (Haura Azzahra Tarbiyah Islamiya)

21	Entrepreneurship and small medium entreprises	ABS-16
THE ROLE OF FINANCIAL LITERACY IN FINANCIAL DECISION MAKING OF MSMES IN INDONESIA Della Hilia Anriva (ab*), Anak Agung Gde Satia Utama (c) ac) Doctoral Program in Accounting Science, Faculty of Economics and Business, Universitas Airlangga, Surabaya 60115, Indonesia *della.hilia.anriva-2023[at]feb.unair.ac.id b) Department of Accounting Studies, Faculty of Economics and Business, Universitas Muhammadiyah Riau, Indonesia Abstract The study examined the role of financial literacy in the quality of financial decision-making, a phenomenon faced by MSMEs in Indonesia. Additionally, another objective of this study is to identify factors that hinder the improvement of financial literacy among MSMEs. This is a qualitative study, and the research data-which included documentation, observations, and literature studies-was analyzed using NVivo 12 Plus through the stages of transcription, coding, and thematic analysis. The results of this study show that the financial literacy index of MSMEs is 78.32%. There is a significant gap between conventional and Sharia financial literacy, and there are several obstacles in achieving optimal financial literacy. Some major barriers include lower levels of education, limited availability of training programs in rural areas, low awareness of financial management, and a generally weak financial culture. These factors highlight the need for a context-based and sustainable mentoring approach to financial literacy. Such an approach is essential to stimulate knowledge transformation and help MSMEs practice sound financial behavior. More applicable and relevant financial education efforts need to be implemented for MSME actors. Therefore, the government and other stakeholders should broaden access to context-relevant training, practical exposure, and educational campaigns to promote better financial management practices among MSMEs. Keywords: Financial education, financial literacy, decision making, financial management, MSMEs Share Link | Plain Format | Corresponding Author (Della Hilia Anriva)

22	Entrepreneurship and small medium entreprises	ABS-76
From Waste to Wealth: A Model of Circular Entrepreneurship through Community-Based Zero Waste Practices in Rural Indonesia a. Siti Shoimah b. Ahmad Sholikin c. Umar Subhan Basri a Department of Management, Faculty of Economics, Universitas Islam Darul ^Ulum b Department of Political Science, Faculty of Social and Political Science, Universitas Islam Darul ^Ulum c TPS 3R Desa Rejoagung, Jombang Email: a. sitishoimah[at]unisda.ac.id b. ahmad.sholikin[at]unisda.ac.id Abstract Purposes: This study investigates a pioneering community-driven zero waste initiative in Desa Rejoagung, Indonesia, implemented through TPS 3R Desa Rejoagung-a business unit under the village-owned enterprise (Badan Usaha Milik Desa/BUMDes Rejoagung). Supported by the Jombang Environmental Agency (DLH), the program integrates Reduce, Reuse, and Recycle (3R) principles with income-generating activities such as fee-based waste collection for households and external clients, maggot farming for catfish feed, compost production, and inorganic waste management via partnerships with the Main Jombang Waste Bank and ecobrick production. Methods: The study applies a Community-Based Participatory Research (CBPR) approach, emphasizing collaboration between researchers and community stakeholders. Data collection was carried out through participatory observation, co-learning processes, in-depth interviews, and document analysis. Thematic analysis was used to identify innovation pathways, shared values, and systemic challenges in the implementation of circular entrepreneurship at the village level. Results: The TPS 3R Desa Rejoagung model demonstrates a replicable framework for rural sustainability. The initiative generates IDR 20 million in monthly revenue, creates 15 local jobs, and reinvests profits into community development. By diversifying waste management practices-such as organic waste processing, ecobrick creation, and sales of recyclables to the waste bank-the program significantly reduces landfill dependency. Its success is driven by participatory governance, cultural alignment, and multi-stakeholder institutional support. Conclusion and suggestion: This study highlights the strategic potential of BUMDes-led circular entrepreneurship in transforming rural waste management into a sustainable economic enterprise. To scale its impact, partnerships with the private sector, NGOs, and academia are essential to expand access to markets, technology, and funding. Future research Keywords: Circular Entrepreneurship, Community-Based Waste Management, Rural Sustainability, Village-Owned Enterprises (BUMDes), Zero Waste Practices. Share Link | Plain Format | Corresponding Author (Siti Shoimah)

23	Entrepreneurship and small medium entreprises	ABS-77
Digitalization and Its Impact on Small Medium Enterprises Financial Performance Riska Nur Rosyidiana (a), Dian Agustia (b) a) Doctoral Program in Accounting, Faculty of Economic and Business, Airlangga University, Surabaya, Indonesia- Faculty of Vocational Studies, Airlangga University, Surabaya, Indonesia. riska.rosyidiana[at]vokasi.unair.ac.id b) Department of Accounting, Faculty of Economic and Business, Airlangga University, Surabaya, Indonesia. dian.agustia[at]feb.unair.ac.id Abstract Abstract Purpose: This study investigates the adoption of digitalization using the Technology-Organization-Environment (TOE) framework and its impact on the financial performance of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. Design/methodology/approach: A quantitative research design utilizing a survey questionnaire was employed to collect data from 299 MSME owners/managers across Indonesia. Structural equation modelling (SEM) was used to analyze and test the hypothesized relationships. Findings: The results indicate that technological, organizational, and environmental factors significantly and positively influence the adoption of digitalization among Indonesian MSMEs. Digitalization, in turn, has a strong positive effect on financial performance by reducing costs, improving customer communication, and increasing business resilience. The study also confirms that digitalization mediates the relationship between the TOE dimensions and financial outcomes, highlighting its strategic role in enhancing MSME competitiveness. Research limitations/implications: Cross-sectional data utilized in this study present limitations in explaining causal relationships, as these relationships may evolve over time. Future research should consider longitudinal and cross-country analyses to enhance generalizability and deepen understanding. Practical implications: The findings emphasize the necessity for MSMEs to adopt digital technologies strategically, supported by suitable organizational structures and favourable environmental conditions. Policymakers are advised to facilitate infrastructure, training, and regulatory environments conducive to digital transformation. Originality/value: This study enriches existing literature by empirically validating digitalizations mediating role within the TOE framework, specifically in the context of MSMEs financial performance in Indonesia, providing critical insights valuable for policy formulation and strategic decision-making in emerging economies. Keywords: Digitalization, MSMEs, Financial Performance, TOE Framework Share Link | Plain Format | Corresponding Author (Riska Nur Rosyidiana)

24	Entrepreneurship and small medium entreprises	ABS-82
Halal Business Sustainability Determinants: MSEs in East Java Faradilah Putri Fauzi, Syanisma Khansa Indirwan, Tika Widiastuti, Sulistya Rusgianto, Ririn Tri Ratnasari, Imron Mawardi, Mochammad Soleh Airlangga University Abstract Purpose - This study aims to examine the determinants of halal business sustainability in micro and small enterprises (MSEs) in East Java, focusing on the role of financial literacy, digital literacy, and halal business management in enhancing dynamic capabilities and sustainability performance. Methodology - A quantitative approach was used, with primary data collected from 80 respondents through an online questionnaire. The research employed Structural Equation Modeling - Partial Least Squares (SEM-PLS) for data analysis. Findings - The results show that both financial and digital literacy significantly impact halal sustainability performance, with dynamic capabilities acting as a mediator in these relationships. Additionally, halal business management was found to have a significant positive effect on sustainability performance, emphasizing the importance of aligning business practices with Islamic principles. Implications - This study provides valuable insights for universities and government institutions to enhance sustainability performance in MSMEs by promoting financial and digital literacy, alongside effective halal business management. The findings suggest that strengthening dynamic capabilities within MSMEs is crucial for adapting to market changes, fostering innovation, and achieving sustainability goals. Policymakers and educational institutions can play a significant role by developing programs to enhance these areas, supporting MSME growth and resilience. Originality - This research contributes to the literature by exploring the impact of dynamic capabilities on MSME sustainability performance, particularly in relation to financial literacy, digital literacy, and halal business management. It highlights the importance of dynamic capabilities in enabling MSMEs to adapt, innovate, and stay competitive in the halal industry. Keywords: Halal Business Sustainability, Micro and Small Enterprises (MSEs), Financial Literacy, Digital Literacy, Dynamic Capabilities. Share Link | Plain Format | Corresponding Author (Syanisma Khansa Indirwan)

25	Entrepreneurship and small medium entreprises	ABS-96
THE INFLUENCE OF THE WMK PROGRAM AND ENTREPRENEURSHIP LEARNING ON ENTREPRENEURIAL INTEREST (STUDY ON STUDENTS MAJORING IN MANAGEMENT FEB UNIVERSITY OF RIAU) Jumiati Sasmita Faculty of Economics and Business, Riau University, Riau, Indonesia Abstract This study aims to determine: (1) the effect of WMK program and Entrepreneurship learning on entrepreneurial interest in Students of Management Department FEB Riau University (2) the effect of WMK Program on entrepreneurial interest in Students of Management Department FEB Riau University (3) the effect of entrepreneurship learning on entrepreneurial interest in Students of Management Department FEB Riau University.This study uses a quantitative approach with a survey method on students who have participated in the WMK Program and entrepreneurship learning. The results showed that both the WMK Program and entrepreneurship learning have a positive and significant influence on students^ entrepreneurial interest. The study also identified that practical experience gained through the WMK Program is more effective in shaping entrepreneurial interest than theoretical learning in the classroom. The implication of this study is the need for deeper integration between WMK Program and entrepreneurship curriculum in higher education to maximize the formation of students^ entrepreneurial interest and capacity. Keywords: Entrepreneurial Interest, WMK Program and Entrepreneurship Learning Share Link | Plain Format | Corresponding Author (Jumiati Sasmita)

26	Financial accounting	ABS-32
Clawback Policy Performance and Corporate Reporting Outcomes Baban Eulaiwi Curtin University Abstract We investigate the relationship between the effectiveness of a remuneration clawback policy, a policy designed to retract some level of compensation paid to key management personnel in the event of misreporting conduct, and financial reporting outcomes in a large sample of Australian listed firms over the 2008-2022 period. Consistent with agency theory and power circulation theory, we provide evidence that firms which implement a clawback policy have lower levels of accrual-based earnings management. This negative association is more pronounced when the firm^s internal audit department reports directly to the board^s audit committee, and in firms^ where there has been media scrutiny relating to level of compensation of key management personnel. Moreover, when shareholders have voted on executive compensation under the two-strikes rule, this action magnifies the negative association between clawback policy performance and corporate reporting outcomes. Our results are robust to a battery of additional tests including propensity score matching. Keywords: clawback- accruals, internal audit, two-strikes rule Share Link | Plain Format | Corresponding Author (Baban Eulaiwi)

27	Financial accounting	ABS-97
Financial Performance Across the Firm Life Cycle: The Role of Family Control and Diversification Strategy Eva Sari Manalu, Poppy Nurmayanti, Ulfa Afifah Universitas Riau Abstract This study aims to examine the influence of family control and diversification strategy on profitability in manufacturing companies in Indonesia during the start-up, growth, mature, and decline stages. The data used in this study is secondary data obtained from the Indonesian Stock Exchange between 2018 and 2023, focusing on manufacturing companies listed and were analyzed using SPSS version 27. The regression test results show family control and diversification strategy on profitability in Indonesian companies across three stages of the firm life cycle: start-up and growth, mature, and decline. The findings show that family control has a negative impact on profitability in all stages, while diversification strategy has a positive impact, particularly in the start-up and growth stage. These findings provide insights into how family control and diversification strategy affect profitability across different stages of the firm life cycle. Keywords: Family Control- Diversification Strategy- Financial Performance- Firm Life Cycle &#8195- Share Link | Plain Format | Corresponding Author (Ulfa Afifah)

28	Financial management	ABS-6
Forecasting the Direction of Stock Price Movement Using Technical Indicator Inputs with Quantile Regression Neural Network (QRNN) Rana Athaya Imtiyaz (a*), Dedy Dwi Prastyo (b), Irhamah (c) Department of Statistics, Faculty of Science and Data Analytics, Institut Teknologi Sepuluh Nopember (ITS) *ranaathayai[at]gmail.com Abstract The Indonesian stock market has experienced significant growth in investor participation from 2021 to 2024, with the banking sector emerging as a dominant force on the Indonesia Stock Exchange (IDX). Banking stocks such as BBCA (conventional banking), BRIS (Islamic banking), and ARTO (digital banking) exhibit diverse price movements, reflecting the unique dynamics of each banking type. Technical analysis plays a crucial role in forecasting stock price movements by leveraging historical price and trading volume data. This study applies the Quantile Regression Neural Network (QRNN) model, which integrates Quantile Regression (QR) to estimate price distributions at 5%, 50%, and 95% quantiles, and Neural Network (NN) to capture nonlinear relationships within the data. This approach enables the model to provide more precise predictions by modeling price fluctuations across different quantiles. Using time series data with forecasting horizons of 5, 10, and 22 trading days, the findings indicate that the QRNN model effectively forecasts stock price intervals. Performance evaluation based on Mean Absolute Percentage Error (MAPE) and Root Mean Square Error (RMSE) demonstrates the model^s optimal accuracy, making it a valuable tool for enhancing investment decision-making. Keywords: Technical Indicators, Banking Stock Price Forecasting, QRNN, Time Series. Share Link | Plain Format | Corresponding Author (Rana Athaya Imtiyaz)

29	Financial management	ABS-7
Interval Forecasting of Stock Price Movements with Technical Indicator Input using Hybrid Quantile Regression and SVR Angger Salsabila Rufida*, Dedy Dwi Prastyo, Tintrim Dwi Ary Widhianingsih Department of Statistics, Faculty of Science and Data Analytics, Institut Teknologi Sepuluh Nopember (ITS) *anggersalsabila21[at]gmail.com Abstract Stock investment is recognized as a strategic means to achieve long-term economic stability. As instruments representing ownership in companies, stocks offer high liquidity and substantial profit potential. Within the Indonesia Stock Exchange (IDX), the banking sector particularly Bank Central Asia (BBCA), Bank Negara Indonesia (BBNI), Bank Rakyat Indonesia (BBRI), and Bank Mandiri (BMRI) has consistently maintained positions within the IDX30, an index comprising highly liquid stocks with large market capitalizations. Accurate stock price forecasting plays a critical role in supporting informed investment decisions. Technical analysis, which leverages historical price data and trading volume, remains a widely adopted approach for anticipating market trends. This study proposes a hybrid predictive model utilizing various technical indicators as input features, including Moving Average (MA), Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Price Rate of Change (ROC), Stochastic Oscillator, Williams %R, and Commodity Channel Index (CCI). The experimental results demonstrate that the hybrid model enhances prediction accuracy. Support Vector Regression (SVR) effectively captures the non-linear dynamics of stock price movements, while Quantile Regression (QR) enables the estimation of predictive intervals. The combination of these methods not only improves forecasting precision but also supports investors in developing risk-aware strategies and making well-informed investment decisions. Keywords: Stock, Technical Indicators, Quantile Regression, Support Vector Regression Share Link | Plain Format | Corresponding Author (ANGGER SALSABILA RUFIDA)

30	Financial management	ABS-13
Hybrid Quantile Regression (QR) and Support Vector Regression (SVR) for Conditional Value at Risk Modelling of Banking Stock Returns in Indonesia Ahmad Hilal. A (a*), Dedy Dwi Prastyo (b), Kartika Fithriasari (c) Department of Statistics, Faculty of Science and Data Analytics, Institut Teknologi Sepuluh Nopember (ITS) *hilalilal27[at]gmail.com Abstract This research departs from the urgency of understanding stock investment risks in order to minimize the potential for significant losses. Banking stocks have experienced performance fluctuations from 2018 to early 2025, influenced by various factors, one of which is the impact of the COVID-19 pandemic that occurred in early 2020. This study aims to measure the potential losses that banks can experience in the face of market instability, so that it can be a consideration for investors before making a decision to invest in the banking sector. The methods used include Peaks Over Threshold (POT) to calculate Value-at-Risk (VaR), which measures risk univariately. Furthermore, Quantile Regression and Support Vector Regression (QR-SVR) are applied to calculate Conditional Value-at-Risk (CoVaR-QR-SVR), which considers dependencies between banking stocks as well as macroeconomic variables that are thought to affect risk estimation. The results show that the estimated value-at-risk using VaR-POT and CoVaR-QR-SVR increases as the level used increases. ARTO, BBHI, BRIS, BTPS, MEGA, and PNB stocks are identified as having a high risk of loss, indicating that they are more suitable for speculation. ARTO, in particular, has a high variance value, indicating a high level of risk fluctuation and potentially large losses. At the 1%, 5%, and 10% quantile levels, the CoVaR-QR-SVR model is better at estimating risk than VaR-POT based on backtesting results. Validation results using Expected Shortfall and statistical tests such as the Kupiec Test show that the CoVaR-QR-SVR model is more accurate in measuring risk than VaR-POT at all quantile levels tested. Keywords: CoVaR, Quantile Regression, Support Vector Regression, Banking Share Link | Plain Format | Corresponding Author (Ahmad Hilal A)

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