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Financial Performance Analysis Using EVA, MVA, FVA, and REVA Methods for Telecommunication Sub-Sector Companies listed on the IDX

The purpose of this study is to suggest an approach to analyzing the efficiency of telecommunications companies listed on the Indonesia Stock Exchange (IDX) using methods for determining Economic Value Added (EVA), Market Value Added (MVA), Financial Value Added (FVA), and Refined Economic Value Added (REVA). A summary of the relevant literature is formed on the bibliographic database. Statistical data based on information from the Indonesia Stock Exchange for four companies in the telecommunications sector over 5 years. Data from reports’ balance sheets, including reports of profits and losses, is investigated. The results of the survey demonstrated that a telecommunications company had a positive EVA value, which meant that it succeeded in creating economic value. The three telecommunications companies had a positive MVA value, which meant that they provided value-added through market capitalization. In four telecommunications companies, a positive FVA indicated that management was successful in providing financial value-added for the company. One of the four telecommunications companies produced a positive REVA, which meant an increase in economic value after the company paid off all liabilities to creditors and shareholders. The use of various value-added measures to assess the performance of Indonesian businesses is a scientific novelty that contributes to the development of corporate finance theory.

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Implementation of Santri Character Education and the Role of Mrs. Nyai in Reading Al-Inayah Cebolek Kidul Islamic Boarding School

Bu Nyai's role in developing the Al-Inayah Cebolek Kidul Islamic boarding school is very important, from its inception until now. Al-Inayah Islamic boarding school is one of the tahfidzul qur'an Islamic boarding schools in Cebolek Kidul village. Character education for students is also very important to overcome moral crises and strengthen character. The aim of this research is to determine the implementation of Santri Character Education and the role of Mrs. Nyai in developing the Al-Inayah Cebolek Kidul Islamic Boarding School. This study uses a qualitative method. This research was carried out very selectively to obtain the authenticity of the data. The results of this research can be concluded as follows: (1) The aim of Islamic boarding school education is to develop and create a personality that is in harmony with Islamic teachings. (2) Islamic boarding schools are educational institutions with unique characteristics. Character education has an important role in maintaining good character throughout his life. (3) Mrs. Nyai Hj. Musyarofah has made a major contribution to the development of Pondok Al-Inayah from its inception until now. In the domestic realm, Mrs. Nyai often chases the students about cleanliness, discipline, and being unclean and pure. Meanwhile, in the public sphere, Bu Nyai often holds routine Koran readings every Saturday and Wednesday with the women of the Cebolek Kidul village.

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The Dynamics of Policies for Implementing Religious Moderation and Local Wisdom in the State Islamic Institute Kudus, Indonesia

This research analyzes the role of Islamic religious universities in maintaining local wisdom through integrating local wisdom with religious moderation. The existence of a state Islamic religious college in the community is the basis for the resilience of local wisdom in the environment where the college is located. The locus of this research is located at IAIN Kudus, Central Java. This research uses a descriptive-qualitative approach to uncovering phenomena and facts in the field. It is hoped that the results of this research will provide a comprehensive picture of the implementation of religious moderation policies and local wisdom in Islamic institutions. Data analysis in this research seeks to identify challenges, opportunities, and the impact of this policy on inter-religious harmony, religious learning, and student character development. In addition, this research also evaluates the extent to which this policy reflects the principles of tolerance, diversity, and local wisdom in the context of Islamic higher education. Through an in-depth understanding of the dynamics of policies for implementing religious moderation and local wisdom at IAIN Kudus, it is hoped that this research can contribute to improving policies and more effective implementation at the institutional level, as well as providing a broader view regarding the harmonization of diversity in the context of Islamic education in Indonesia. The results of this research can be explained by the fact that the integration of local wisdom and religious moderation in the tertiary environment has proven to be able to realize the understanding and application of the importance of religious moderation values in tertiary institutions.

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Qurʾanic Edupreneur: Counter to Unemployment in Contemporary Indonesia

Abstract This study examines the concept of Qurʾanic edupreneur to counter unemployment in Indonesia. The method of research is qualitative with interpretative analysis. The data is taken from literal and field sources. The researchers use three key words in the Qurʾan al-ʿamal, al-saʿy and al-kasb to capture the spirit of entrepreneurship in the Qurʾan with a contextual hermeneutics approach. Al-ʿamal means the work ethos, productivity and professionality (Al-Nahl/16: 97) Meanwhile, al-kasb is interpreted as any effort to bring in economic value (Al-Baqarah/2: 267). The word Al-saʿy is interpreted to be quick to see business opportunities and adaptive to changes (Al-Jumuʿah/62: 9). These values of entrepreneurial spirit in the Qurʾan are internalized in the educational curriculum so the students have an entrepreneurial vision and mentality, this concept is called as Qurʾanic edupreneur. The Islamic boarding school of Fathul Ulum, Jombang is one best example in Islamic institution in implementing the concept of Qurʾanic Edupreneur. The students not only study about religious science but also skill of entrepreneurship; this is proven by some training centers of entrepreneurship in Fathul Ulum for example fisheries, agriculture, animal husbandry, catering, advertising and convection. The students are taught to have an entrepreneurial spirit and become strong, ethical, professional and hard-working individuals based on Qurʾanic values. This curriculum integration model has proven to be able to reduce unemployment in productive age.

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