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This study aims to examine the role of hymns as a medium for Christian religious education by highlighting the theological messages contained in Psalm 78:3-4 and their relevance in the process of learning faith. The problem raised in this study is the lack of attention to the integration between the heritage of biblical spiritual values and contextual learning media such as hymns in Christian religious education, especially in the process of passing on faith across generations. Psalm 78:3-4 emphasizes the importance of teaching spiritual values through storytelling and praise to God, which in practice can be realized in the form of hymn singing. This study uses a qualitative approach with textual and contextual analysis methods. Data were obtained through a study of biblical literature, Christian hymns, and supporting theological references. The analysis focused on the relationship between the theological message of Psalm 78:3-4 and the educational function of hymns as a means of instilling faith values. The novelty of this study lies in the presentation of hymns as a medium for actualizing the message of the Psalms, which not only enriches theological insight but also strengthens the method of learning faith practically in churches, schools, and families.Keywords:Christian Religious Education; Hymn; Praise Songs; Psalms

This research explores an in-depth understanding of the Prophet Isaiah's message about the strength of faith in facing times of trial, with a focus on analyzing the meaning of fasting in the context described in Isaiah 58:6-10. This research aims to understand how the Prophet Isaiah became an example of the strength of faith through the teachings of fasting, in line with his theological and contextual understanding. Text and context analysis methods are used to detail the meaning and implications of fasting in Isaiah's writings, with the aim of identifying teachings that can empower people to strengthen their faith during times of trial. It is hoped that the results of this research can contribute to practical and theological understanding of the power of faith in the context of trials, especially through understanding the message of the Prophet Isaiah about the meaning of fasting.

This study aims to uncover the secret of the plan of salvation that lies in the genealogy of Jesus Christ recorded in Matthew 1:1–17, especially in the context of the presence of foreign and sinful women in Jesus' lineage. In this effort, the method of theological analysis was used to understand the theological significance and moral message contained in the inclusion of women such as Tamar, Rahab, Ruth, and Uriah's wife in the genealogy of Christ. This research delves into the historical and cultural context of Matthew's writing and analyzes how the inclusion of these women complements and illustrates the fulfillment of God's all-encompassing and gracious promise. The findings of this study will deepen understanding of the redemptive narrative woven into the genealogy of Jesus Christ, provide deep insight into the inclusiveness of God's plan of salvation, and offer an evocative testimony of His infinite love and mercy to all mankind.

The pastor plays various important roles in the congregation, such as preacher, teacher, priest, administrator, and counselor. Among all these roles, the counselor holds the greatest responsibility. The task of pastoral counseling includes providing emotional and spiritual support to the congregation. In addition to helping the congregation overcome emotional, mental, and spiritual issues, counseling also assists them in discovering their identity, life calling, and potential, so that they can develop holistically in life. Pastoral counseling is a form of interpersonal communication that requires the pastor to have good communication skills. The ability to build strong relationships with the congregation significantly influences their spiritual development. Additionally, empathy and compassion are qualities that pastors must possess to support their interpersonal skills. Diagnostic skills are also crucial for a pastoral counselor. With these skills, the counselor can identify the problems faced by the congregation and provide assistance or refer them for further treatment. Interpersonal skills help build open relationships, while diagnostic abilities are essential in identifying the root causes of the congregation's issues. In the diagnostic process, assessment and interpretation skills are vital to understanding the congregation's problems comprehensively—emotionally, mentally, socially, culturally, and spiritually—so that the solutions provided can be effective and accurate. Pastoral counseling plays a significant role in supporting the growth of faith and overall well-being of the congregation.

This book delves into the critical intersection of auditing, accounting, and legal investigations, emphasizing the importance of identifying and mitigating fraud within organizations. This work explores the theoretical foundations of fraud auditing and forensic accounting, providing a comprehensive overview of the methodologies and tools used by professionals in the field. The book begins by outlining the various types of fraud, including financial statement fraud, asset misappropriation, and corruption, along with the psychological and organizational factors that contribute to fraudulent behaviour. It highlights the significance of ethical practices in accounting and the role of auditors in safeguarding corporate integrity. Central to the text is the discussion of forensic accounting techniques, which blend accounting knowledge with investigative skills. Readers are introduced to key concepts such as data analysis, evidence collection, and the application of legal principles in fraud cases. The importance of maintaining a sceptical mindset and understanding the motives behind fraud are also emphasized. Furthermore, the book addresses the evolving landscape of fraud in the digital age, considering how technological advancements, such as data mining and artificial intelligence, can enhance fraud detection and prevention strategies. Case studies and real-world examples illustrate the practical application of theoretical concepts, equipping readers with the skills necessary to conduct effective fraud audits. In conclusion, this book serves as a vital resource for students, professionals, and organizations aiming to enhance their understanding of fraud prevention and detection. By blending theory with practical insights, it offers a roadmap for navigating the complexities of fraud in contemporary financial environments.

Buku ini bertujuan untuk memaparkan pentingnya literasi akuntansi dan keuangan di kalangan anggota keluarga. Pembahasannya akan mengkaji manfaat dari memperoleh keterampilan literasi keuangan, serta mengeksplorasi konsekuensi dari kurangnya pengetahuan tersebut dalam unit keluarga. Dengan menyoroti aspek-aspek penting dari literasi keuangan dan dampaknya terhadap dinamika keluarga, pembaca dapat membekali diri kita dengan alat yang diperlukan untuk menumbuhkan kebiasaan keuangan yang lebih sehat.

The paper examines the market efficiency of nine industry sectors of the IDX market. Using an event window of 30 days post-earnings announcement stock returns after the public announcement of the financial statements as of 31 December 2018, the study tests the significance of cumulative average abnormal returns surrounding the earnings announcement. The study concludes that there are significant variances in the market efficiency towards earnings announcement across nine industry sectors in IDX. The finding indicates that the industry-specific factors influence the level of abnormal returns surrounding the earnings announcement. However, the findings reject the market efficiency in agriculture (AGRI) and property, real estate, and building (PROP) industries. The results illustrate that the miscellaneous industry (MISC) reacts immediately to the earnings announcement, but its significance is only for a short period. The infrastructure, utilities, and transportation (INFRA) industry show delays in its response to the announcement but continuously significant for a relatively long period. Other industries of mining (MINING), basic industry and chemicals (BASIC), construction, real estate, and building (CONS), financial (FIN), as well as trading, services, and investments (TSI), report significant negative CAARs in all investigated windows. The One Way ANOVA testing concludes that the nine industries' cumulative average abnormal returns on IDX are significantly different from each other sectors.

The primary objective of this research is to measure the information asymmetry before, during, and after earnings announcements and how it relates to the drift in post-earnings announcements over an extended period. The study uses the bid-ask spread as an information asymmetry proxy and employs a market model to assess daily data on Indonesia’s equity market before, during, and after the earnings announcement. Data were analyzed using the t test and least squares regression. The study provides empirical evidence showing that the bid-ask spread increases significantly before the earnings announcement, indicating information uncertainties between sellers and buyers. The findings show that the market reacts to accounting information indicated by a significantly reduced bid-ask spread soon after the market digests the information, following the concept of semi-strong market efficiency. The study shows a cumulative abnormal return and bid-ask spread strongly correlated a few days following earnings. However, the analysis found no long-term association between bid-ask spread and post-earnings announcement drift. The study found that stock market sellers and buyers use accounting data to set prices and that earnings releases reduce the bid-ask difference. The study suggests that the market regulator supports timely disclosure of this information. Keywords: Bid-ask spread, earnings announcement, information asymmetry, market efficiency. Classification: MSC2010 or JEL Classifications: C12, G14, G15

This study analyzes the stock market resilience of the Indonesia Stock Market (IDX) from the view of industry sectors. The study uses event methodology to examine the statistical significance of cumulative average abnormal returns from Q1 2020 to Q1 2021, specifically focusing on the impact of the COVID-19 epidemic. The research indicates that the outbreak has had a detrimental impact on most businesses. However, starting from the second half of 2020, the market began to recover, as seen by the favourable performances in over half of the sectors listed in the IDX market. The study reveals a constant pattern of negative abnormal returns in several sectors, including cable and electronics, wood, communications, metal and mineral mining, machinery and heavy equipment, toll road and airport, computer and services, healthcare, tourist, and hotel industries, up until Q1 2021. Furthermore, it consistently demonstrates positive performances in various sectors, including coal mining, ceramics and glass, crude petroleum and gas, cement, energy, property and real estate, crops and plantation, advertising and media, animal husbandry and agriculture, metal and allied products, building and construction, chemicals, investment, banking, pharmaceuticals, animal feed, retail, cosmetics and households, financial institutions, automotive and components, insurance, nonbuilding construction, other finance, and other trade services. The study finds that the COVID-19 epidemic substantially affects the performance of the IDX stock market. However, this impact is transient, as the market started to rebound in the second half of the year and regained its initial level by the start of 2021. Keywords Stock market resilience · COVID-19 pandemic · Industry · IDX market

Purpose: This study examines the market’s reaction to information content during earnings announcements from the viewpoint of changes in the book-to-market ratio. Research methodology: This study used a quantitative approach and an event study methodology as the primary measurement. It applies a market model based on Indonesia’s equity market daily stock returns to analyze the cumulative average abnormal returns in firms with upward/downward book-to-market value changes. Results: The findings reveal that stock prices in Indonesia's stock equity grew significantly above the firms' book values, indicating that investors pay more attention to expected future returns than the accounting value. This study also reveals that changes in book value may cause more significant changes in market value, following the direction of information content. The study found that the market is more sensitive to bad news than to good news and noted a significant relationship between book-to-market and post-earnings announcement abnormal returns. Limitations: This study did not cover the long-term impact of the long-horizon test. A long-horizon test may provide evidence of market efficiency from the long-term perspective. Accordingly, this study suggests an issue for future research. Contribution: This study contributes to the literature by suggesting that testing market efficiency from the view of changes in book-tomarket provides robust grounds to explain the market reaction to good or bad news information content. Novelty: Our findings show that Rp. One adjustment in book value in the Indonesian stock market corresponds to an average value of Rp. 16.43 adjustment in market value. This result implies that book value changes can lead to more significant changes in the market value. Keywords: Information content, book-to-market, market efficiency How to Cite: Nainggolan, R. (2024). Market reaction on earnings announcement information contents: Analysis from book-tomarket. International Journal of Financial, Accounting, and Management, 6(2), 183-196

The study investigates trading volume activities post-earnings announcement and their impact on abnormal returns. The objectives are to examine the changes in trading volume activities in response to earnings release and to measure the impact of the changes in trading volume activities on the cumulative average abnormal returns post-earning announcement. The study analyzes the trading volume response around the earnings announcement by comparing the ratio of trading volume activity (TVA) post-earnings announcements with the TVA during the estimation window. It reports an apparent increase in trading volume activity on day +2, indicating a slightly delayed reaction to the event's information. However, the findings indicate a significant relationship between cumulative abnormal returns and trading volume during the post-earning announcement abnormal return in a short period, following the semi-strong form of market efficiency. The study focuses on year-end announcements and does not evaluate interim announcements. The market response to interim data may vary and requires validation through an additional investigation. This implies that market traders should implement an effective trading strategy before the entire market reacts to the earnings announcement. Furthermore, the research findings underscore opportunities for policymakers to improve market infrastructure, hence augmenting the market's efficacy in conveying information pertaining to earnings releases.

Background: The free health check program is a government preventive measure to improve early detection of Non-Communicable Diseases (NCDs). However, community participation in this program varies, and research specifically examining factors influencing participation in thefree health check program at the community health center level is limited.Purpose:To analyze the level of community participation in the free health check program at the community health center level.Method:This study used a cross-sectional design involving 100 respondents selected through stratified proportional random sampling. The instrument, a closed-ended questionnaire, was developed by the researcher and tested for validity (corrected item-total correlation > 0.30) and reliability (Cronbach's alpha: knowledge = 0.81; attitude = 0.86; social support = 0.79). Data analysis was performed using the chi-square test.Results:A total of 62% of respondents participated in the free health check program. There was no significant relationship between knowledge (p = 0.992) and attitude (p = 0.410) and community participation. Social support was significantly associated with participation (p = 0.034). Respondents who received social support were 2.43times more likely to participate in the program than those without support (POR = 2.428; 95% CI: 1.062–5.552).Conclusion:Social support was the most important determinant of community participation in the CKG program, while knowledge and attitudes did not significantly influence it. This indicates that social dynamics play a more dominant role in shaping preventive health behaviors. Therefore, community health centers need to strengthen community involvement, increase family participation, and empower health cadres to increase participation in preventive health programs. Keywords: Attitudes; Community Participation;Free Health Checks;Knowledge;Social Support.