Danadyaksa: Post Modern Economy Journal

Legal Protection for Land Grant Beneficiaries Against Revocation Efforts by Donors in Indonesian Religious Courts

Salman Hassan — 2025-07-16

This study aims to examine the legal basis and judicial practice regarding the revocation of land grants (hibah) by the donor and to analyze the legal protection granted to beneficiaries of land grants in the Indonesian legal system. The research employs a normative juridical method supported by a case approach, using primary legal sources such as the Compilation of Islamic Law (KHI), the Compilation of Sharia Economic Law (KHES), and the Civil Code (KUHPerdata). Three religious court decisions were analyzed: Decision No. 1175/Pdt.G/2024/PA.Smn, Decision No. 236/Pdt.G/2017/PA.Pal, and Decision No. 601/Pdt.G/2020/PA.Tnk, all of which addressed grant cancellations due to exceeding the legal limit of one-third of the donor's estate. The findings indicate discrepancies in the legal reasoning among judges. Some judges considered only the grant deed invalid while maintaining the legal status of the grant, whereas others invalidated both the grant and the deed, creating legal uncertainty for the beneficiaries. The research concludes that although a land grant is legally binding and irrevocable under normal circumstances, its legitimacy can be questioned and revoked if it violates inheritance rights or exceeds the permitted limit without the heirs' consent. The study emphasizes the need for legal harmonization and more consistent judicial interpretation to ensure legal certainty and justice for grant recipients.

Legal Construction of Government Agency Asset Certification Regarding Land Rights Formerly Under Dutch Control

Jacki Mahendra — 2025-07-16

An important aspect of optimal management of state assets includes aspects of securing state assets. The form of state asset security measures can be through certification activities for land plots spread throughout the territory of Indonesia. Normatively, "Law of the Republic of Indonesia Number 1 of 2004 concerning State Treasury instructs that state/regional property in the form of land controlled by the Central/Regional Government must be certified in the name of the government of the Republic of Indonesia/the relevant regional government." In its development, it turned out that there were assets owned by government agencies that had the status of objects of Control of Fixed Assets Owned by Individual Dutch Citizens" or Dutch Legal Entities (P3MB). Normatively, the P3MB land certification process has special regulatory characteristics, namely the priority scale of granting rights and payment of compensation to the State through the Sale and Purchase. Of course, this is. However, what the author needs to highlight here is that there is no subject of Prospective Recipients of Rights in the Government/Government Agency group. In addition, problems also occur regarding the purchase mechanism up to the process of transferring rights by Government Agencies, which should be a single entity with the State itself.

Data Analysis Approaches for Apple Stock Price Prediction and Financial Risk Management

Hivi Malu Omar — 2025-09-02

Financial markets are characterized by rapid volatility and dynamic fluctuations, which necessitate robust approaches to financial risk management. Traditional statistical techniques often fall short in capturing the nonlinear and complex interactions that influence stock price behavior. This study aims to develop and evaluate predictive models for Apple Inc.’s stock prices by integrating statistical analysis with machine learning approaches. Using 17 years of historical stock market data, we examine price dynamics, trading volume patterns, and volatility trends. Descriptive statistical analysis reveals a significant negative correlation between trading volume and stock price (r = –0.523), while daily return volatility is measured at 11.5369, underscoring inherent financial risks. Two predictive models—Linear Regression and Random Forest—are employed, utilizing features such as opening price, daily high and low prices, and trading volume. Model performance is assessed through mean absolute percentage error (MAPE), yielding error rates of 0.0143 and 0.0161, respectively, with Random Forest demonstrating slightly superior accuracy. The findings highlight the potential of data-driven approaches for enhancing stock price forecasting and financial decision-making. By combining traditional statistical methods with machine learning techniques, this study contributes to the literature on financial risk management and offers practical insights into how advanced predictive analytics can improve strategic responses to market uncertainty.

The Effect of Financial Targets and Audit Committee on Fraudulent Financial Reporting at PT. Pertamina

Gia Nurfadilah — 2025-09-30

This study investigates the influence of financial targets and the audit committee's structure on the likelihood of fraudulent financial reporting, using PT Pertamina (Persero), a major Indonesian state-owned enterprise (SOE), as a case study. Drawing on agency theory and public sector governance perspectives, the research employs a descriptive case analysis supported by limited quantitative data from 2019 to 2023. Fraudulent reporting is proxied using the Beneish M-Score, while financial targets are measured via return on assets (ROA), and audit committee performance is proxied by committee size. Despite regression tests suggesting a positive relationship between financial targets and fraud indicators, the reliability of statistical findings is constrained by the minimal data points and static variance in the dependent variable. The audit committee's role was found to be statistically insignificant, which calls into question the current composition and oversight function within SOEs. This study recommends revising fraud detection models for public enterprises and strengthening governance mechanisms, particularly by enhancing the competence, independence, and regulatory supervision of audit committees. Future research should broaden the scope by incorporating multiple SOEs, employing richer governance indicators, and utilizing mixed-methods designs to yield more valid and generalizable insights.

The Role of Emotional Marketing in Achieving Marketing Ambidexterity: An Analytical Study of Opinions from a Sample of Commercial Bank Managers in Duhok Governorate

Abdulwahid Taha Shukri — 2025-09-30

This study investigates the role of emotional marketing in achieving marketing ambidexterity within commercial banks in Duhok Governorate, Kurdistan Region of Iraq. Emotional marketing, operationalized through aesthetic, utilitarian, and conscious emotions, is analyzed in relation to marketing ambidexterity dimensions, namely opportunity exploration, opportunity exploitation, and marketing agility. Drawing on organizational ambidexterity theory and consumer psychology, the study addresses a critical gap in understanding how emotional marketing strategies enhance both efficiency and adaptability in the banking sector of emerging markets. The research adopts a descriptive-analytical design, combining theoretical review and empirical investigation. Data were collected from 75 managers across commercial banks using a structured questionnaire, supported by interviews and observations. Factor analysis and simple linear regression, conducted with SPSS V.26, were employed to validate constructs and test hypotheses. The results demonstrate that all three dimensions of emotional marketing significantly influence marketing ambidexterity, with aesthetic emotions contributing most strongly to opportunity exploration, utilitarian emotions to exploitation, and conscious emotions to marketing agility. Collectively, emotional marketing explained 53.49% of the variance in marketing ambidexterity outcomes. These findings highlight the strategic value of emotional engagement in fostering both stability and innovation in banking practices. The study contributes to marketing and organizational theory by extending ambidexterity research into the domain of emotional marketing in emerging economies. Practically, it provides insights for bank managers on integrating emotional strategies to enhance customer loyalty, service innovation, and sustainable competitiveness.

Analysis of the Role of BPRS Mitra Harmoni Islamic Bank in Improving Community Welfare through Ball Pick-Up Financing in the Production of Clay Go International

Wildan Rosyid — 2025-09-30

Islamic banks have emerged as one of the key pillars of Indonesia’s financial system, providing not only financial services but also contributing to social welfare in line with sharia principles. Among them, BPRS Mitra Harmoni Malang has introduced an innovative Jemput Bola (ball pick-up) savings and financing programme designed to overcome barriers to financial access and to promote community empowerment. This study aims to analyse the role of the Jemput Bola programme in enhancing community welfare and financial inclusion within the framework of maqashid sharia. Using a qualitative descriptive approach, data were collected through interviews, observations, and document analysis conducted between January and February 2025. The findings reveal that the Jemput Bola system significantly reduced access barriers for low-income and informal sector communities, increased participation in savings and financing products, and fostered microenterprise development, particularly in sectors such as clay crafts, food production, and retail trade. The programme also improved public trust in Islamic banking by emphasizing transparency, ethical practices, and the avoidance of riba. Overall, the study demonstrates that BPRS Mitra Harmoni’s Jemput Bola programme is more than a marketing innovation; it is a strategic model for inclusive growth and community welfare improvement. By aligning with maqashid sharia objectives (hifz al-mal, hifz an-nafs, and hifz al-nasl) the programme contributes to financial stability, socio-economic empowerment, and sustainable development. These results suggest that the model has strong potential for replication by other Islamic rural banks to strengthen financial inclusion and reduce poverty across Indonesia.