International Journal Administration, Business & Organization

The Effect of Current Ratio, Return of Equity, and Debt Equity Ratio on Stock Prices with Dividend Payout Ratio as a Moderating Variable

Novalida Nurdyane — 2026-04-29

This study aims to analyze the effect of Current Ratio, Return On Equity Debt to Equity Ratio, and Dividend Payout Ratio on Stock Prices in food and staple food retail subsector companies listed on the Indonesia Stock Exchange in the period 2019-2023. By using Purposive Sampling, 12 companies were selected as samples based on certain criteria and data analysis using multiple linear regression. The results show that Current Ratio, Return On Equity, Debt to Equity Ratio and Dividend Payout Ratio are negatively related to stock prices. Current Ratio and Debt to Equity Ratio are negatively related to Dividend Payout Ratio, while Return On Equity is positively related to Dividend Payout Ratio. The moderating variables between the Current Ratio, Return on Equity, and Debt to Equity Ratio and the Dividend Payout Ratio are positively related to Stock Price. This study provides new empirical insights into capital structure and profitability, particularly in the food and staple food retail subsector. In this regard, retail company management needs to maintain a balance between profitability and leverage, and utilize dividend policy as a strategic instrument to strengthen the company's positive signal to investors.

Policy Analysis of the Jabar Saber Hoaks Program in Addressing the Spread of Hoaxes in West Java

Hidayat Hidayat — 2026-04-29

The rapid advancement of digital technology has become a vehicle for the spread of hoaxes, negatively impacting the lives of the digital community in Indonesia, particularly in West Java. On the other hand, public awareness regarding how to distinguish hoaxes remains low; this situation is further exacerbated by the emergence of AI technology, making it extremely difficult for the public to determine whether a piece of news is a hoax or not. To address the spread of hoaxes, the West Java Provincial Government issued a policy through West Java Governor’s Decree No. 700.05/Kep.1261-Diskominfo/2018 regarding the establishment of the Jabar Saber Hoaks program. This program aims to protect the public from the negative impacts caused by hoaxes. This study aims to analyze the policies of the Jabar Saber Hoaks program. Using a literature review approach, the findings indicate that the Jabar Saber Hoaks program’s policies have not been implemented optimally in protecting the public from the negative impacts of hoaxes. One reason for this is that Jabar Saber Hoaks only verifies information of questionable accuracy circulating in digital media, while community empowerment programs aimed at improving digital literacy have not been widely implemented. Consequently, many people in West Java have been affected by hoaxes, resulting in both moral and material losses.

The Influence of Brand Image and Customer Experience on Purchase Decision in Artisan Bakery Industry

Alvin Ali — 2026-04-29

This study examines the influence of brand image and customer experience on purchase decisions in the artisan bakery industry, with a case study of Rosella Bakehouse. The growing transformation of bakery products into lifestyle-oriented goods has intensified competition, requiring firms to strengthen both branding and experiential strategies. A quantitative approach was employed using survey data from 150 customers who had prior purchasing experience. Data were analyzed using multiple linear regression. The results reveal that both brand image and customer experience have a positive and significant effect on purchase decisions, with customer experience demonstrating a stronger influence. The model explains 51.8% of the variance in purchase decisions. These findings highlight the critical role of integrating brand positioning with experiential marketing strategies to enhance consumer engagement and purchasing behavior. This study contributes to the literature by providing empirical evidence from a developing market context, particularly within the premium bakery sector.

Implementation of the Free Nutritional Meal Program Policy from A Good Governance Perspective in Madiun City In 2025

Nicko Pratama — 2026-04-29

This study aims analyze the implementation of the Free Nutritious Meal (MBG) Program in Madiun City from a good governance perspective, focusing on communication, resources, disposition, and bureaucratic structure. Although previous studies have discussed school feeding programs and policy implementation, most tend to examine them separately and rarely integrate the perspective of policy implementation theory with good governance principles at the local level. This study addresses this gap by combining George C. Edwards III’s implementation model with a good governance framework. This research uses a qualitative descriptive approach. Data were collected through interviews, observation, and documentation involving informants from the Education Office, Nutritional Fulfillment Service Unit (SPPG), and school principals, selected using purposive sampling. Data analysis follows the interactive model of Miles, Huberman, and Saldana. The results show that the implementation of the MBG Program in Madiun City has generally been effective, supported by adequate resources, clear bureaucratic structure, and positive implementer commitment. However, challenges remain in communication consistency, limited field supervision, and uneven technical understanding at the school level. From a good governance perspective, the program reflects transparency, accountability, and effectiveness, but still requires improvement in participation and coordination. This study contributes by offering an integrative analytical framework for understanding policy implementation in nutrition-based public service programs at the local level.

Liquidity, Solvency, and Asset Growth Effects on Stock Prices: The Mediating Role of Profitability in Transportation and Logistics Companies Listed on the Indonesia Stock Exchange (2019–2024)

Vera Lisdiana — 2026-04-29

This study investigates the effects of liquidity, solvency, and asset growth on stock prices, both directly and indirectly through profitability as a mediating variable, in transportation sector companies listed on the Indonesia Stock Exchange during 2019–2024. Liquidity is measured using the Current Ratio (CR), solvency using the Debt-to-Equity Ratio (DER), asset growth through annual asset growth, profitability using Return on Assets (ROA), and stock prices based on closing prices. A quantitative approach employing panel data regression analysis is applied, while the mediating role of profitability is examined using the Sobel test. The findings indicate that liquidity and asset growth have positive and significant effects on stock prices, whereas solvency has a negative effect. Liquidity and asset growth also positively influence profitability, while solvency negatively affects profitability. Profitability significantly increases stock prices and mediates the relationships between liquidity and stock prices as well as asset growth and stock prices. However, profitability does not mediate the effect of solvency on stock prices. These results emphasize the importance of effective liquidity management and asset utilization in enhancing profitability and firm market value, while excessive leverage may weaken investor confidence.