JEFMS Journal

¹Istutik, ²Erensiana Roswita Hale, ³Irawan Budianto

^1,2,3STIE Malangkucecwara, Terusan Candi Kalasan Street – Malang – 65142

¹Abdul Rohim, ²Widy Taurus Sandy

^1,2Sekolah Tinggi Ilmu Ekonomi PGRI Dewantara

¹Annaria Magdalena M, ²Bintang Sahala Marpaung , ³Amanda Meilan Purbasari

^1,2,3Management Study Program, Faculty of Business, Institute Business and Informatics Kesatuan

¹David HM Hasibuan, ²Mario Santo Michael Tinambunan

^1,2Accounting Study Program, Faculty of Business Institute Business and Informatics Kesatuan

¹Fahtia Nur Hanifah, ²Jaka Winarna

¹Magister Accounting, Faculty Economics and Business, University of Sebelas Maret Surakarta, Indonesia
²Faculty Economics and Business, University of Sebelas Maret Surakarta, Indonesia

¹Frederick Misael Gunawan, ²Christina Sudyasjayanti

^1,2School of Business and Management, Ciputra University & Surabaya, Indonesia

¹Ahmad Habib Pinim, ²Muhammad Ramadhan, ³Juliana Nasution

^1,2,3Universitas Islam Negeri Sumatera Utara

¹Benson Marnata Situmorang, ²Kurniawati

^1,2Trisakti University, Faculty of Economics, Management and Business Department. Indonesia

Syaiful Arifin

University of Merdeka Malang, Indonesia

¹Dyah Setyawati, ²Setyo Bayu Aji, ³Sela Ayu Wijayanti, ⁴Katarina Yustu Mau, ⁵Sukma Darmawan

^1,2,3,4,5Faculty of Economics and Business, University of Merdeka Malang, Indonesia

Ioan Tamas

Doctoral School of Economics and Business Administration, West University of TIMISOARA, Romania

¹Afifah Shalihah, ²Sam’un Jaja Raharja, ³Margo Purnomo

^1,2,3Universitas Padjadjaran Business Administration Study Program, West Java, Indonesia

¹Angela Rosari Widya Pangestika, ²Setianingtyas Honggowati

^1,2Economics and Business Faculty, Sebelas Maret University, Indonesia

¹Fatma Eka Sari, ²Parawiyati, ³Harmono

^1,2Master of Accounting Program, Postgraduate Program, University of Merdeka Malang,
³Doctoral Program in Economics, Faculty of Economics and Business, University of Merdeka Malang,
³https://orcid.org/0000 0002 1933 5017

¹Ira B. Hubner, ²Meira Natania Susanto, ³Joceline Tan, ⁴Elang Kusumo

^1,2,3,4Universitas Pelita Harapan

¹Halima Elhoufi, ²Mariam Bounab, ³Yassine Tabaa

^1,2,3Department of economics and management, Abdelmalek Essaâdi University, Tetouan, Tanger Morocco.

¹Nguyen Thanh Hung, ²Tran Thi Xuan Anh, ³Tran Thanh Thu

¹Bao Viet Holdings
^2,3Banking Academy of Vietnam

¹Rafly Rifaudin, ²Chusnul Rofiah

^1,2STIE PGRI Dewantara Jombang,

¹Ainur Wahyuni, ²Chusnul Rofiah

^1,2STIE PGRI Dewantara Jombang

¹Gaudensius Mingge Olin, ²Tanto Gatot Sumarsono, ³Harsono

^1,2,3University of Merdeka Malang, Indonesia

¹Samira EL FEROUALI, ²Abdelali EZZIADI, ³Said OUHADI

¹LAREGO, ENCG, Cadi Ayyad University
²IGPO, Polydisciplinary Faculty of Sidi Bennour, Chouaib Doukkal University
³LAREGO, ENCG, Cadi Ayyad University

¹Saripudin, ²Diah Ernawati, ³Rizki Yuniarti

^1,2,3Perbanas Institute Jakarta, Indonesia

¹Manuel Coutinho Carmo Bucar Corte Real, ²Ida Ayu Nyoman Saskara, ³I Nyoman Mahaendra Yasa, ⁴Ni Nyoman Reni Suasih

¹Student of Economics Doctoral Study Program, Faculty of Economics and Business, Udayana University, Jalan P.B. Sudirman, Denpasar, Indonesia
²Professor in Economics, Faculty of Economics and Business, Udayana University, Jalan P.B. Sudirman, Denpasar, Indonesia
³Associate Professor in Economics, Faculty of Economics and Business, Udayana University, Jalan P.B. Sudirman, Denpasar, Indonesia
⁴Lecturer in Economics, Faculty of Economics and Business, Udayana University, Jalan P.B. Sudirman, Denpasar, Indonesia

¹Chandra Shekar Goud Burugu, ²Ayodeji Bamidele Owoeye

^1,2Royal Agricultural University, Stroud Rd, Cirencester, GL7 6JS

¹Ishak Awaluddin, ²Erwin Hadisantoso, ³Safaruddin, ⁴Lin Wisly Jipu

^1,2,3,4Department of Accounting, Faculty of Economics and Business, Halu Oleo University, Indonesia

ISAAC A. Power, PhD

Department of Business Administration, Faculty of Management Sciences, Delta State University, Abraka, Nigeria

¹Ronald Feryanto S, ²Yuliani, ³Yos Karimudin

^1,2,3University of Sriwijaya Palembang, Jalan Padang Selasa, Indonesia

I Wayan Budi Artha

Triatma Mulya University

¹Made Sinthya Aryasthini Mahaendrayasa, ²Made Suyana Utama, ³AAIN Marhaeni, ⁴Made Heny Urmila Dewi

^1,2,3,4Faculty of Economics and Business Udayana University

¹Sanjaya Bangun, ²Mahrinasari MS, ³Roslina

^1,2,3Master of Management University of Lampung, Bandar Lampung, Indonesia

GHAZOUANI Nidham

Research structure: VPNC LAB, 216.21000622

¹Nino Tchanturia, ²Taso Getashvili

^1,2Georgian International University GIU, Georgia, Tbilisi

¹I Gede Rihayana, ²Wayan Gede Supartha, ³I Gusti Ayu Manuati Dewi, ⁴Ida Bagus Ketut Surya

^1,2,3,4Department of Management, Faculty of Economics and Business, Udayana University, Bali, Indonesia

¹Cornellia, AH, ²Putrianti, H, ³Sinangjoyo NJ

¹Faculty of Hotel Administration at the Sekolah Tinggi Pariwisata AMPTA Yogyakarta, Indonesia
²Elmoo Yogyakarta, Indonesia
³Faculty of Tourism at the Sekolah Tinggi Pariwisata AMPTA Yogyakarta, Indonesia

¹Zaenur Rizky, ²Chusnul Rofiah

^1,2STIE PGRI Dewantara Jombang

Dianta Hasri Natalius Barus

Program Vokasi Universitas Katolik Parahyangan, Indonesia

¹Youlanda Fairuz, ²Dr. Ir. Mustika Sufiati, M.Sc.

^1,2School of Business and Management, Institut Teknologi Bandung, Bandung

¹Yuli Murtiningsih, ²Sihwahjoeni, ³Maxion Sumtaky

^1,2,3University of Merdeka Malang, Indonesia

Prof. Dr. Sudadio, M.Pd

¹Grace Ndhlovu, ²Chrine C. Hapompwe

^1,2The University of Zambia, Graduate School of Business, 10101

¹Kanyanta Makasa, ²Chrine C. Hapompwe

^1,2The University of Zambia, Graduate School of Business, 10101

¹Obi B. C. Phd, ²Okoro T. C. Phd

^1,2Department of Accountancy, Alvan Ikoku Federal College of Education Owerri

¹Eri Marlapa, ²Aisyah Pratiwi

^1,2Mercu Buana University, Jakarta, Indonesia

¹Antonius Okrabeni, ²Tanto Gatot Sumarsono, ³Muhammad Choldun Sina Setyadi

^1,2,3University of Merdeka Malang, Indonesia

¹Jesson Rey F. Sabado, ²Jezyl Rose R. Tagalog, ³Ellieza L. Sarmiento, ⁴Arabella B. Gaquit

^1,2,3,4University of Mindanao

Gde Deny Larasdiputra

Warmadewa University, Terompong Street No.24, Denpasar City, Bali, Indonesia 80239

¹Bayu Adi, ²Grahita Chandrarin, ³Harmono

^1,2,3Doctoral Program, Economics, University of Merdeka Malang, Malang, Indonesia
²http://orcid.org/0000-0002-7024-1315,
³http://orcid.org/0000-0002-1933-5017

¹Nur Aufa Susianti, ²Wahidatul Husnaini

^1,2Mataram University, Mataram, Indonesia

Mukdad Ibrahim

American University of Ras Al Khaimah United Arab Emirates

¹Pwee Leng, ²Grace Febiola Susanto

¹Finance and Investment Program, School of Business & Management, Petra Christian University & Jl. Siwalankerto 121-131, Surabaya
²Apartemen Puncak Permai Tower a, Dukuh Pakis, Surabaya

¹Dita Wulansari, ²Satria Bangsawan, ³Dorothy Rouly H. Pandjaitan

^1,2,3The Faculty of Economics and Business, University of Lampung, Indonesia

Loice Koskei

Koitaleel Samoei University College (A Constituent College of the University of Nairobi)

Loice Koskei

Koitaleel Samoei University College (A Constituent College of the University of Nairobi)

¹I Made Sumitra, ²Wayan Gede Supartha, ³I Gede Riana, ⁴Ida Bagus Ketut surya

¹Doctoral Program of Management Science,
^2,3,4Faculty Economic and Business, Udayana University

¹Chusnul Rofiah, ²Titin

¹STIE PGRI Dewantara Jombang
²Universitas Islam Lamongan

¹Rizki Amelia, ²Ida Bagus Cempena, ³Hotman Panjaitan

^1,2,3Universitas 17 Agustus 1945 Surabaya

¹Indawati, ²Holiawati, ³Endang Ruhiyat

^1,2,3Pamulang University

¹Kiryanto, ²Fadilla Rizkynanda Noor Syaharani

^1,2Faculty of Economics, Universitas Islam Sultan Agung Semarang-Indonesia, Jl. Kaligawe Raya KM 4. Terboyo Kulon Semarang-Indonesia