Business, Management and Accounting › Accounting

Financial Analysis and Corporate Governance

Works Count: 110932

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This cluster of papers covers a wide range of topics related to financial analysis, investment strategies, portfolio management, corporate finance, accounting standards, market analysis, capital structure, profitability, and corporate governance. The papers explore various factors influencing firm value, stock returns, and financial performance in different industries and markets.

Keywords

Financial Analysis; Investment Analysis; Portfolio Management; Corporate Finance; Accounting Standards; Market Analysis; Capital Structure; Profitability; Corporate Governance; Stock Market

PENGARUH STRUKTUR MODAL, PROFITABILITAS DAN UKURAN PERUSAHAAN PADA NILAI PERUSAHAAN

2013-10-08

I Gde Ary Wirajaya , M.Si. , AK .

ABSTRAK Perusahaan mempunyai tujuan jangka panjang yaitu untuk memaksimumkan kemakmuran pemegang saham. Memaksimumkan kemakmuran pemegang saham dapat ditempuh dengan memaksimumkan nilai sekarang . Tujuan dari penelitian ini untuk mengetahui pengaruh … ABSTRAK Perusahaan mempunyai tujuan jangka panjang yaitu untuk memaksimumkan kemakmuran pemegang saham. Memaksimumkan kemakmuran pemegang saham dapat ditempuh dengan memaksimumkan nilai sekarang . Tujuan dari penelitian ini untuk mengetahui pengaruh struktur modal, profitabilitas dan ukuran perusahaan pada nilai perusahaan di Bursa Efek Indonesia periode 2009-2011. Populasi penelitian ini adalah industri manufaktur yang tercatat di Bursa Efek Indonesia tahun 2009-2011. Metode penentuan sampel dengan metode purposive sampling , dengan beberapa kriteria yang telah ditentukan maka jumlah sampel adalah sebanyak 71 perusahaan manufaktur. Data penelitian merupakan data sekunder diperoleh dari Indonesian Capital Market Directory (ICMD) tahun 2009-2011. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis regresi linear berganda. Hasil penelitian ini menunjukkan bahwa: 1) struktur modal berpengaruh negatif dan signifikan pada nilai perusahaan, 2) profitabilitas berpengaruh positif dan signifikan pada nilai perusahaan 3) ukuran perusahaan tidak berpengaruh pada nilai perusahaan. Kata Kunci : struktur modal, profitabilitas, ukuran perusahaan, nilai perusahaan

Good Corporate Governance

2011-07-21

Andrian Sutedi

Pedoman Corporate Corporate Governance (GCG) ttelah beberapa kali disempurnakan, terakhir pada tahun 2006. Berdasarkan pemikiran bahwa suatu sektor ekonomi tertentu cenderung memiliki karakterisik yang sama, maka pada awal tahun 2004 … Pedoman Corporate Corporate Governance (GCG) ttelah beberapa kali disempurnakan, terakhir pada tahun 2006. Berdasarkan pemikiran bahwa suatu sektor ekonomi tertentu cenderung memiliki karakterisik yang sama, maka pada awal tahun 2004 dan 2006 dikeluarkan pedoman GCG perbankan Indonesia, dan pada awal tahun 2006 dikeluarkan pedoman GCG perasuransian Indonesia. Buku Corporate Corporate Governance secara khusus membahas: • Latar Belakang Penerapan GCG • Temuan badan pemeriksaan keuangan • Isu terciptanya budaya baru • Konsep dasar komite audit • Konsep dasar audit internal • Konsep dasar Corporate Corporate Governance • Konsep dasar kinerja perusahaan • Organ perusahaan • Pedoman umum GCG • Pedoman GCG perbankan • Penilaian implementasi GCG • Analisis empirik peran komite audit dan audit internal terhadap implementasi GCG dan dampaknya terhadap kinerja.

Pengaruh Ukuran Perusahaan, Leverage, Price Earning Ratio dan Profitabilitas terhadap Nilai Perusahaan

2013-01-31

Bhekti Fitri Fitri Prasetyorini

This research analysis the influence firm size, leverage, price earning ratio, and profitability to firm’s value. The main purpose of company’s built was to maximize stockholder wealth. There are several … This research analysis the influence firm size, leverage, price earning ratio, and profitability to firm’s value. The main purpose of company’s built was to maximize stockholder wealth. There are several factors that can regard firm’s value, for example firm size, leverage, price earning ratio, and profitability. In this research firm’s value were measured by Tobin’s Q. The analysis of this research using linier regression method. The result shows that firm size, leverage, price earning ratio, and profitability in simultan has influence on firm’s value. Meanwhile, the result of test were shown that firm size, price earning ratio, and profitability there were positive influence to firm’s value partially. While, the leverage shown that hasn’t influence on firm’s value partially. It means that the higher firm size, leverage, price earning ratio, and profitability of company then it will increasing the firm’s value. The leverage shown that hasn’t influence on firm’s value.Keywords: firm size, leverage, price earning ratio, profitability and firm’s value.

The Performance of Mutual Funds in the Period 1945-1964

2002-01-01

Michael C. Jensen

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PENGARUH LEVERAGE, UKURAN PERUSAHAAN, PERTUMBUHAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PROPERTI

2017-03-02

I Nyoman Agus Suwardika , I Ketut Mustanda

Penelitian ini memiliki tujuan untuk menjelaskan signifikansi pengaruh leverage, ukuran perusahaan, pertumbuhan perusahaan, dan profitabilitas secara parsial terhadap nilai perusahaan properti yang terdaftar di BEI. Penelitian ini mengambil sampel 41 … Penelitian ini memiliki tujuan untuk menjelaskan signifikansi pengaruh leverage, ukuran perusahaan, pertumbuhan perusahaan, dan profitabilitas secara parsial terhadap nilai perusahaan properti yang terdaftar di BEI. Penelitian ini mengambil sampel 41 perusahaan selama periode penelitian yaitu tahun 2013-2015 menggunakan motode purposive sampling dengan kriteria perusahaan yang terdaftar secara kontinu dan perusahaan yang terdaftar penuh. Sumber data yang digunakan dalam penelitian ini yaitu data sekunder. Regresi linier berganda adalah teknik analisis data yang digunakan dalam penelitian ini. Setelah dilakukan pengujian maka diperoleh hasil leverage , pertumbuhan perusahaan, dan profitabilitas secara parsial berpengaruh signifikan terhadap nilai perusahaan, dimana variabel yang memiliki hubungan positif yaitu leverage dan profitabilitas, sedangkan variabel pertumbuhan perusahaan mempunyai hubungan yang negatif, namun ukuran perusahaan terhadap nilai perusahaan tidak berpengaruh signifikan The role of this research is to identify the significancy of leverage’s impact on firm value, firm size on firm value, firm growth on firm value and profitability on property’s firm size which listed in Indonesian Stock Exchange. This research took 41 samples in research’s period from 2013 to 2015 with purposive sampling method which use the continuity and fully listed of the firm as the criteria of the sample. Multiple linear regression analysis used as the analysis technique of this reseach. After the research then could be concluded that leverage, firm growth, and profitability significantly affected the firm value, where leverage and profitability affect the dependent variables positively but the firm growth affected negatively. Meanwhile the firm size not significantly affected the firm value

Financial Structure and Economic Growth

2001-12-21

This is the first broad cross-country assessment of the ties between financial structure—the mix of financial instruments, institutions, and markets in a given economy—and economic growth since Raymond Goldsmith's 1969 … This is the first broad cross-country assessment of the ties between financial structure—the mix of financial instruments, institutions, and markets in a given economy—and economic growth since Raymond Goldsmith's 1969 landmark study. Most studies focus on developed countries and compare bank-based and market-based systems. Debates over the relative merits of the two systems have relied on case studies of Germany, Japan, the United Kingdom, and the United States, countries with similar long-run growth rates. The absence of data on developing countries limits the usefulness of such studies for policy makers. The book contains recently acquired cross-country data from almost 150 countries. It includes information on the size, efficiency, and activity of banks, insurance companies, pension and mutual funds, finance companies, and stock and bond markets. It also incorporates information on each country's political, economic, and social environment. The chapters contain a mix of case studies, cross-country studies, macro- and micro-oriented approaches, and analytical and empirical work. The conclusions point not to markets versus banks, but to markets and banks. It is how well a financial system functions that is critical for long-run economic growth. The research suggests that strong legal rights for outside investors and the overall efficiency of contract enforcement are effective tools for developing the financial sector and the economy. The book includes a CD containing World Bank data.

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Analisis kinerja keuangan

2018-01-09

Ahmad Faisal , Rande Samben , Salmah Pattisahusiwa

Tujuan Penelitian ini adalah untuk mengetahui kinerja keuangan CV Karunia Jaya pada tahun 2015 sampai dengan tahun 2016 ditinjau dari rasio keuangan Likuiditas, Solvabilitas dan Profitabilitas. Alat analisis yang digunakan … Tujuan Penelitian ini adalah untuk mengetahui kinerja keuangan CV Karunia Jaya pada tahun 2015 sampai dengan tahun 2016 ditinjau dari rasio keuangan Likuiditas, Solvabilitas dan Profitabilitas. Alat analisis yang digunakan berupa rasio keuangan yang terdiri dari rasio Likuiditas, Solvabilitas, dan Profitabilitas. Data Penelitian merupakan data sekunder yang diperoleh dari laporan keuangan. Metode penelitian menggunakan metode deskriptif komparatif. Berdasarkan hasil analisis yang diperoleh yaitu Rasio likuiditas dari tahun 2015 sampai dengan tahun 2016 mengalami penurunan. Current ratio dari tahun 2015 ke 2016 meningkat sebesar 0,5%. Quick ratio dari tahun 2015 ke tahun 2016 meningkat sebesar 0,95%. Semakin tinggi current ratio, quick ratio, dan cash ratio maka semakin besar kemampuan perusahaan untuk melunasi hutang-hutangnya. Rasio solvabilitas untuk debt to total asset ratio tahun 2015 ke tahun 2016 menurun sebesar 7,2%, Debt to equity ratio mengalami penurunan di tahun 2015 ke 2016 sebanyak 0,27%. Keadaan ini merugikan bagi perusahaan, yang dimana semakin besar jumlah pinjaman yang digunakan. Rasio profitabilitas, kemampuan perusahaan juga efisien karena pada tahun 2015 ke tahun 2016 untuk return on equty dan return on asset meningkat, untuk return on equty sebesar 17,28% dan return on asset 0,18%.

Analisis laporan keuangan : proyeksi dan valuasi saham

2013-01-01

Werner Ria Murhadi

Buku mengenai Manajemen Keuangan telah banyak beredar dengan berbagai variasinya, namun buku yang membahas lebih detail mengenai metode-metode yang dapat dipergunakan dalam melakukan penilaian terhadap saham suatu perusahaan relatif terbatas. … Buku mengenai Manajemen Keuangan telah banyak beredar dengan berbagai variasinya, namun buku yang membahas lebih detail mengenai metode-metode yang dapat dipergunakan dalam melakukan penilaian terhadap saham suatu perusahaan relatif terbatas. Dengan dasar pemikiran tersebut, penulis berupaya menulis buku ini agar menjadi suatu bacaan yang diharapkan dapat memperkaya wawasan pembaca mengenai alat yang dapat membantu dalam melakukan penilaian saham suatu perusahaan. Topik utama dari buku ini adalah teknik-teknik yang dapat dipergunakan untuk melakukan suatu valuasi terhadap ekuitas perusahaan. Buku ini ditulis dengan maksud agar dapat menjadi suatu bahan rujukan bagi para investor, pelaku pasar modal, mahasiswa strata-1 maupun strata-2 dengan peminatan pada keuangan dan pasar modal. Pada buku ini dibahas berbagai macam teknik yang dapat dipergunakan untuk menilai perusahaan yang nantinya akan dicerminkan dalam harga saham. Isi buku ini berupaya untuk dapat mencerminkan antara teori dengan dunia praktik yang ada di pasar modal mengenai alat-alat dalam valuasi. Buku ini banyak berkiblat pada tulisan Damodaran. Harapan penulis, buku ini dapat menjadi salah satu buku yang dapat mencerahkan bagi berbagai pihak yang menggunakannya. Buku ini dibagi menjadi 2 (dua) bagian utama yakni Bagian I Konsep Dasar Valuasi, dimana bagian ini akan dimulai dengan Pendahuluan, Indikator Makro Ekonomi dan Analisis Industri, Dasardasar Risiko, Estimasi Parameter Risiko, Estimasi Arus Kas dan Estimasi Pertumbuhan. Bagian I ini merupakan dasar-dasar yang harus dipahami sebelum melangkah pada bagian II. Bagian II Model-model Valuasi berisikan berbagai model yang dapat dipergunakan dalam melakukan valuasi dimulai dari DDM, FCFE, FCFF, Valuasi Berbasis Earnings, Valuasi Berbasis Book Value dan terakhir Valuasi Berbasis Revenue. Akhir kata, tiada gading yang tak retak, begitu pula dengan buku ini yang jauh dari sempurna. Untuk itu kritik dan saran yang membangun dalam rangka perbaikan dan peningkatan kualitas buku ini, sangat penulis harapkan. Semoga buku ini menjadikan pencerahan bagi kita semua

Capital Structure and Firm Size on Firm Value Moderated by Profitability

2019-02-01

M Hirdinis

The purpose of this study is to determine the effect of capital structure and firm size on firm value, moderated by profitability.The sample of this research is mining sector companies … The purpose of this study is to determine the effect of capital structure and firm size on firm value, moderated by profitability.The sample of this research is mining sector companies listed on IDX.This research uses the non-participant observation method with path analysis technique.The method of data analysis used is multiple linear regression with data analysis tool using SPSS 22.Based on the analysis results, it was concluded that capital structure has a significant positive effect on firm value while firm size has a significant negative effect on firm value.Profitability has no significant effect on firm value, whilst company size has a significant positive effect on profitability.However, profitability is not able to mediate the influence of capital structure and firm size on firm value.

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EFFECTS OF RETURN ON ASSET, DEBT TO ASSET RATIO, CURRENT RATIO, FIRM SIZE, AND DIVIDEND PAYOUT RATIO ON FIRM VALUE

2019-09-01

Asmaul Husna , Ibnu Satria

The purpose of the research is to determine the effect of return on assets, debt to asset ratio, current ratio, firm size, and dividend payout ratio to the firm value … The purpose of the research is to determine the effect of return on assets, debt to asset ratio, current ratio, firm size, and dividend payout ratio to the firm value of manufacturing companies listed in Indonesia Stock Exchange for the period 2013-2016. The sampling method was purposive sampling techniques and obtained from 32 samples out of 138 firms that met the criteria. The analysis technique applied was a multiple regression analysis. The research found that the return on asset and firm size have effects on firm value, debt to asset ratio, current ratio, and dividend payout ratio, but do not affect firm value. This paper shows that return on asset has an effect firm value, debt to asset ratio does not effects firm value, firm size has an effect firm value, and payout ratio has no effect on firm value.Keywords: Firm Value, Return on Assets, Debt to Asset Ratio, Current Ratio, Firm Size, and Dividend Payout RatioJEL Classifications: E10, E32, E60DOI: https://doi.org/10.32479/ijefi.8595

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TEORI PORTOFOLIO DAN ANALISIS INVESTASI

2016-01-01

Adler Haymans Manurung

Buku Materi Pokok Teori Portofolio dan Analisis Investasi (TPAI) bertujuan membekali mahasiswa agar mampu menganalisis cara perusahaan atau individual menginvestasikan dananya dalam aset finansial dengan menggunakan beberapa metode/konsep, baik untuk … Buku Materi Pokok Teori Portofolio dan Analisis Investasi (TPAI) bertujuan membekali mahasiswa agar mampu menganalisis cara perusahaan atau individual menginvestasikan dananya dalam aset finansial dengan menggunakan beberapa metode/konsep, baik untuk sekuritas individual, maupun portofolio investasi.

Analisis Laporan Keuangan

2021-12-23

Miftahul Jannah

Analisis laporan keuangan adalah suatu proses penelitian laporan keuangan beserta unsur-unsurnyan yang bertujun untuk mengevaluasi dan memprediksi kondisi keuangan perusahaan atau badan usaha yang juga mengevaluasi hasil-hasil yang telah dicapai … Analisis laporan keuangan adalah suatu proses penelitian laporan keuangan beserta unsur-unsurnyan yang bertujun untuk mengevaluasi dan memprediksi kondisi keuangan perusahaan atau badan usaha yang juga mengevaluasi hasil-hasil yang telah dicapai perusahaan atau badan usaha pada masa lalu dan sekarang. Analisis terhadap laporan keuangan suatu perusahaan pada dasarnya karena ingin mengetahui toingkat keuntungan, tingkat risiko dan tingkat Kesehatan suatu perusahaan. Analisis semacam ini mengharuskan seorang analis untuk melakukan beberapa hal:1. Menentukan dengan jelas tujuan analisis2. Memahami konsep-konsep dan prinsip-prinsip yang mendasari laporan keuangan dan rasio-rasio keuangan yang diturunkan dari laporan keuangan tersebut. 3. Memahami kondisi perekonomian dan kondisi bisnis lain pada umumnya yang berkaitan dengan perusahaan dan mempengaruhi tujuan perusahaan.Sebelum melakukan analisis seorang analis harus memahami ketiga Langkah diatas, baru kemudian melakukan analisis menggunakan alat-alat analisis seperti rasio keuangan atau rasio-rasio lainnya.

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The Effect of Market Orientation on Business Profitability

1999-01-01

John C. Narver , Stanley F. Slater

Dasar-Dasar Manajemen Keuangan

2022-11-18

Nendy Pratama Agusfianto , Nunuk Herawati , Erviva Fariantin +7 more

Dalam menjalankan suatu usaha diperlukan keterampilan manajemen untuk mengatur segenap sumber daya yang dimiliki. Baik dari pengelolaan tenaga kerja, pemasaran, hingga operasional, semuanya tidak terlepas dari aspek keuangan. Untuk itu, … Dalam menjalankan suatu usaha diperlukan keterampilan manajemen untuk mengatur segenap sumber daya yang dimiliki. Baik dari pengelolaan tenaga kerja, pemasaran, hingga operasional, semuanya tidak terlepas dari aspek keuangan. Untuk itu, sangat penting bagi pengelola perusahaan dalam hal ini manajer dan bagian terkait untuk memahami konsep manajemen keuangan dengan baik.Menjawab hal di atas, maka buku yang saat ini ada di tangan Anda hadir untuk membantu para pembacanya yang ingin memahami konseptual dasar ilmu manajemen keuangan dengan pembahasan yang mudah dan lugas.Adapun isi pembahasan dalam buku ini terdiri dari 13 bab yang saling terhubung, yaitu: Tinjauan Dasar Manajemen Keuangan; Nilai Waktu dari Uang; Konsep Laporan Keuangan; Arus Kas dan Perpajakan; Pasar dan Institusi Keuangan; Tingkat Bunga; Saham dan Valuasinya; Risiko dan Tingkat Pengembalian; Dasar-dasar Penganggaran Modal; Kebijakan Dividen; Struktur Modal dan Leverage; Manajemen Modal Kerja; Perencanaan dan Ramalan Keuangan.

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Analisis Laporan Keuangan

2023-01-02

Isda Iskandar

Salah satu pilar penting dalam keuangan dan perekonomian baik itu konvensional maupun keuangan Islam ialah laporan keuangan, bagaimana keadaan suatu instansi, bangsa, perusahaan, atau apapun yang berkaitan dengan bisnis secara … Salah satu pilar penting dalam keuangan dan perekonomian baik itu konvensional maupun keuangan Islam ialah laporan keuangan, bagaimana keadaan suatu instansi, bangsa, perusahaan, atau apapun yang berkaitan dengan bisnis secara garis besar kemajuan dan potensinya dapat dilihat dari laporan keuangannya.

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Manajemen keuangan perusahaan

2004-01-01

Lukman Syamsuddin

ini adalah huku ajar untuk matakuliah Manajemen Keuangan 1 baik bagi para mahasiswa Fakultas Ekonomi, Sekolah Tinggi Ihriu Ekonomi, Administrasi Niaga; serta peserta kursus-kursus manajen±n maupun para eksekutif yang mengikuti … ini adalah huku ajar untuk matakuliah Manajemen Keuangan 1 baik bagi para mahasiswa Fakultas Ekonomi, Sekolah Tinggi Ihriu Ekonomi, Administrasi Niaga; serta peserta kursus-kursus manajen±n maupun para eksekutif yang mengikuti program MBA. Titik tolak buku ini adalah peranan para manajer keuangan di dalam merencanakan keuangan perusahaan, mengambil keputusan dan melaksanakan pengawasan. Karena itu buku ini tidak saja sarat dengan teori juga padat dengan pengalaman penulis sendiri baik di lapangan maupun di kampwi.

PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS DAN KEBIJAKAN DEVIDEN TERHADAP NILAI PERUSAHAAN (Studi Kasus Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2020-2024)

2025-06-26

Klotilde Elian N. Making | Deleted Journal

The purpose of this study is: 1) To determine the positive and significant influence between company size and company value, 2) To determine the positive and significant influence between profitability … The purpose of this study is: 1) To determine the positive and significant influence between company size and company value, 2) To determine the positive and significant influence between profitability and company value, 3) To determine the positive and significant influence between dividend policy and company value. The sample used are manufacturing company listed on the Indonesia Stock Exchange for the 2020-2024 period as many as 24 companies. The data analysis technique used is multiple linear regression. The results of the study show that: 1) Company size has a positive effect on company value, proven. This is indicated by a regression coefficient of -0,262 and a sig value of 0,038 < 0,05. 2) Profitability has a positive effect on company value, not proven. This is indicated by a regression coefficient of 0,669 and a sig value 0,759 > 0,05. 3) Dividend policy has a positive effect on company value, not proven. This is indicated by a regression coefficient of -0,009 and a sig value 0,610 > 0,05.

ANALISIS FUNDAMENTAL SAHAM PT. SOECHI LINES TBK (SOCI) DAN PT. ADHI KARYA PERSERO (ADHI) : TINJAUAN KINERJA KEUANGAN DAN REKOMENDASI INVESTASI

2025-06-25

Feren Melina Junita , Harti Budi Yanti | Fonduri de investiţii

This paper presents a comprehensive financial analysis of two publicly listed companies in Indonesia: PT Soechi Lines Tbk (SOCI) and PT Adhi Karya (Persero) Tbk (ADHI), over the five-year period … This paper presents a comprehensive financial analysis of two publicly listed companies in Indonesia: PT Soechi Lines Tbk (SOCI) and PT Adhi Karya (Persero) Tbk (ADHI), over the five-year period from 2019 to 2023. These companies operate in distinct sectors—maritime transportation and shipbuilding for SOCI, and construction and infrastructure development for ADHI. The objective of this study is to assess and compare their financial performance using key financial ratios including Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Equity Ratio (DER), and Earnings per Share (EPS). Data were obtained from the companies’ audited annual financial statements and analyzed using quantitative methods. The findings show that SOCI maintained relatively stable performance throughout the five years, demonstrating healthy profitability, conservative capital structure, and resilience during the COVID-19 pandemic. In contrast, ADHI exhibited a more volatile performance, heavily influenced by macroeconomic factors and project execution cycles, with signs of recovery in profitability observed in 2023. The comparative analysis indicates that SOCI is more suitable for risk-averse investors seeking long-term stability, whereas ADHI presents a higher-risk, higher-return profile, ideal for aggressive investors capitalizing on the company’s recovery momentum. This study contributes to the body of knowledge in fundamental stock analysis and offers valuable insights for investors and financial analysts in making data-driven investment decisions in the Indonesian capital market.

Analisis Perbandingan Kinerja Keuangan pada PT Wijaya Karya Tbk dan PT Adhi Kary Tbk Pada Tahun 2008 – 2023

2025-06-25

Amilia Nanda Putri Lestari , Amin Tohari , Adit Kurniawan | Deleted Journal

Abstract : Construction companies are business entities that build physical facilities and infrastructure to help create jobs and distribute income from all levels of society. The purpose of this study … Abstract : Construction companies are business entities that build physical facilities and infrastructure to help create jobs and distribute income from all levels of society. The purpose of this study is to determine the comparison of the financial performance of PT Wijaya Karya Tbk and PT Adhi Karya Tbk as their development in their role as construction companies in Indonesia. The subjects in this study were PT. Wijaya Karya Tbk and PT. Adhi Karya Tbk in 2008-2023 which have research objects, namely the financial statements of the companies PT. Wijaya Karya Tbk and PT. Adhi Karya Tbk in 2008-2023. The analysis technique used is hypothesis testing using the independent sample t-test. The results of the study stated that the F count for Current Ratio (CR) with Equal Variance Assumed (assuming both variants are the same) there was a comparison of financial performance between the two companies while the F count for Total Asset Turn Over (TATO) and Return on Equity (ROE) with Equal Variance Assumed (assuming both variants are the same) there was no comparison of financial performance between the two companies. Abstrak : Perusahaan kontruksi merupakan badan usaha yang membangun sarana, dan prasarana fisik untuk membantu menciptakan lapangan kerja dan mendistribusikan pendapatan dari semua lapisan masyarakat. Tujuan penelitian ini untuk mengetahui perbandingan kinerja keuangan PT Wijaya Karya Tbk dan PT Adhi karya Tbk sebagai perkembangannya dalam perannya sebagai perusahaan konstruksi yang di Indonesia. Subjek dalam penelitian ini adalah PT. Wijaya Karya Tbk dan PT. Adhi Karya Tbk tahun 2008-2023 yang memiliki objek penelitian yaitu laporan keuangan perusahaan PT. Wijaya Karya Tbk dan PT. Adhi Karya Tbk tahun 2008-2023. Teknik analisis yang digunakan adalah pengujian hipotesis yang menggunakan independent sample t-test. Hasil penelitian menyatakan bahwa F hitung untuk Current Ratio (CR) dengan Equal Variance Assumed (diasumsikan kedua varian yang sama) terjadi perbandingan kinerja keuangan antar kedua perusahaan sedangkan F hitung untuk Total Asset Turn Over (TATO) dan Return on Equity (ROE) dengan Equal Variance Assumed (diasumsikan kedua varian yang sama) tidak terjadi perbandingan kinerja keuangan antar kedua perusahaan.

MENELISIK DAMPAK RASIO KEUANGAN TERHADAP LABA: STUDI KASUS INDUSTRI MAKANAN DI INDONESIA

2025-06-24

Ilham Fajar Eko Saputro , Khaeri Agus Suseno | Applied Research in Management and Business

This study aims to analyze the effect of financial ratios on profit growth in food and beverage companies listed on the Indonesia Stock Exchange during the 2021–2023 period. The background … This study aims to analyze the effect of financial ratios on profit growth in food and beverage companies listed on the Indonesia Stock Exchange during the 2021–2023 period. The background of this research is the fluctuation in the financial performance of the food and beverage sector due to various economic challenges, such as rising production costs and changes in consumer behavior. This study uses a quantitative approach with secondary data from the annual financial reports of 21 companies. The analysis method applied is multiple linear regression using statistical software. The results show that the variables Current Ratio, Debt to Asset Ratio, Total Assets Turnover, and Net Profit Margin have varying effects on profit growth. Some ratios show significant relationships, while others do not have a noticeable impact. These findings provide important implications for company management and investors in developing effective financial strategies to support sustainable profit growth

Pengaruh Return on Assets, Return on Equity, Net Profit Margin, Earning per Share dan Debt to Equity Ratio Terhadap Dividend Payout Ratio Pada Perusahaan LQ45 Yang Terdata Di BEI Tahun 2022-2024

2025-06-24

Hidayatul Maspupah , Fauziana Nur Izzati , Dimas Riyanto +2 more | Jurnal Manajemen dan Investasi (Manivestasi)

ABSTRACT This study aims to find out about the effect of Return On Assets (ROA), Return On Equity (ROE), Net Profit Margin (NPM), Earning Per Share (EPS), Debt To Equity … ABSTRACT This study aims to find out about the effect of Return On Assets (ROA), Return On Equity (ROE), Net Profit Margin (NPM), Earning Per Share (EPS), Debt To Equity Ratio on Dividend Policy in Companies Listed in the LQ 45 Index on the Indonesia Stock Exchange (IDX) Period 2022 - 2024. This type of research is quantitative descriptive research. The population of this study were 45 companies. A sample of 38 companies was determined from the method of multiple regression data analysis techniques through classical assumption testing. The data analysis methods used are descriptive statistical tests, classical assumption tests (normality tests, multicolonierity tests, heteroscedasticity tests and autocorrelation tests), multiple linear regression analysis, determination coefficient tests, hypothesis tests (T tests and F tests) through the help of the IBM SPSS Statistic Version 16 program. The results showed that simultaneously Return on Assets (ROA), Net Profit Margin (NPM), Earning per Share (EPS), Debt to Equity Ratio (DER) had an effect on Dividend Policy. Partially, only Earning per Share has an effect on Dividend Policy. For investors who want to invest, they must see information about financial ratios, because the data is important in estimating the amount of dividends that will be received. Keywords : ROA, ROE, NPM, EPS, DER, Dividend Payout Ratio ABSTRAK Penelitian ini memiliki tujuan guna mengetahui tentang pengaruh Return On Assets (ROA), Return On Equity (ROE), Net Profit Margin (NPM), Earning Per Share (EPS), Debt To Equity Ratio terhadap Kebijakan Deviden Pada Perusahaan Yang Tercatat Dalam Indeks LQ 45 Di Bursa Efek Indonesia (BEI) Periode 2022 – 2024. Jenis penelitian ini ialah penelitian deskriftif kuantitatif. Populasi penelitian ini ialah 45 perusahaan. Sampel sejumlah 38 perusahaan ditetapkan dari metode teknik analisis data regresi berganda melalui pengujian asumsi klasik. Metode analisis data yang dipergunakan yaitu uji statistik deskriptif, uji asumsi klasik (uji normalitas, uji multikolonieritas, uji heteroskedastisitas serta uji autokorelasi), analisis regresi linier berganda, uji koefisien determinasi, uji hipotesis (uji T dan uji F) melalui bantuan program IBM SPSS Statistic Version 16. Hasil penelitian memperlihatkan secara simultan Return on Assets (ROA), Net Profit Margin (NPM), Earning per Share (EPS), Debt to Equity Ratio (DER) berpengaruh terhadap Kebijakan Dividen. Secara parsial hanya Earning per Share yang berpengaruh terhadap Kebijakan Dividen. Untuk investor yang hendak berinvestasi, harus melihat informasi mengenai rasio keuangan, dikarenakan data itu penting dalam memperkirakan jumlah dividen yang nantinya akan diterima. Kata Kunci: ROA, ROE, NPM, EPS, DER, Dividend Payout Ratio

Pengaruh Return On Equity (ROE) Dan Return On Assets (ROA) Terhadap Pertumbuhan Laba Pada Perusahaan Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2016-2020

2025-06-24

Bela Okta Rini , Mursalin Mursalin , Muhammad Kurniawan +1 more | Jurnal Manajemen dan Investasi (Manivestasi)

ABSTRAK Riset ini bertujuan buat mengenali apakah terdapat pengaruh return on equity (ROE) serta return on assets (ROA) secara simultan dan parsial terhadap pertumbuhan laba. Periode penelitian yang digunakan yaitu … ABSTRAK Riset ini bertujuan buat mengenali apakah terdapat pengaruh return on equity (ROE) serta return on assets (ROA) secara simultan dan parsial terhadap pertumbuhan laba. Periode penelitian yang digunakan yaitu 2016-2020. Populasi dalam penelitian ini merupakan laporan keuangan 30 industri sub zona santapan dan minuman yang terdaftar di BEI. Sampel yang di ambil dalam penelitian ini sebanyak 12 perusahaan sub sektor makanan dan minuman yang terdaftar di bursa efek Indonesia (BEI) dengan metode purposive sampling. Teknik analisis data yang digunakan dalam penelitian ini adalah analisis regresi linear berganda, koefisien korelasi, dan koefisien determinasi. Hasil uji hipotesis dengan menggunakan uji t menyimpulkan bahwa terdapat pengaruh return on equity (ROE) terhadap pertumbuhan laba secara signifikan. Uji t juga menyimpulkan bahwa terdapat pengaruh return on assets (ROA) terhadap pertumbuhan laba secara signifikan. Dan hasil uji f menyimpulkan bahwa terdapat pengaruh return on equity (ROE) dan return on assets (ROA) terhadap pertumbuhan laba secara signifikan pada perusahaan sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Kata Kunci: Return on Equity (ROE), Return on Asssets (ROA), Pertumbuhan Laba ABSTRACT This study aims to determine whether there is an effect of return on equity (ROE) and return on assets (ROA) simultaneously and partially on profit growth. The research period used is 2016-2020. The population in this study is the financial statements of 30 food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX). The samples taken in this study were 12 food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) using purposive sampling method. The data analysis technique used in this research is multiple linear regression analysis, correlation coefficient, and coefficient of determination. The results of hypothesis testing using t-test concluded that there is a significant effect of return on equity (ROE) on profit growth. The t-test also concludes that there is a significant effect of return on assets (ROA) on profit growth. And the results of the f test conclude that there is an effect of return on equity (ROE) and return on assets (ROA) on profit growth significantly in food and beverage sub-sector companies listed on the Indonesia Stock Exchange. Keywords: Return on Equity (ROE), Return on Asssets (ROA), Profit Growth

Pengaruh Asimetri Informasi, Good Corporate Governance, Corporate Social Responsibility, Free Cash Flow dan Modal Intelektual Terhadap Manajemen Laba

2025-06-24

Widia Pangesti Cahya Wardhani , Rina Trisnawati | PARADOKS Jurnal Ilmu Ekonomi

Penelitian ini bertujuan untuk mengetahui pengaruh asimetri informasi, good corporate governance, corporate social responsibility, Free Cash Flow, dan modal intelektual terhadap manajemen laba (studi kasus pada perusahaan manufaktur yang terdaftar … Penelitian ini bertujuan untuk mengetahui pengaruh asimetri informasi, good corporate governance, corporate social responsibility, Free Cash Flow, dan modal intelektual terhadap manajemen laba (studi kasus pada perusahaan manufaktur yang terdaftar di bei periode 2021-2023). Jenis penelitian yang digunakan dalam penelitian ini merupakan penelitian kuantitatif. Populasi dalam penelitian ini adalah perusahaan Manufaktur yang terdaftar di Bursa Efek Indoenesia (BEI) tahun 2021-2023 yang berjumlah 224 perusahaan. Teknik pengambilan sampel dalam penelitian ini menggunakan metode purposive sampling. Sampel penelitian yang diperoleh sebanyak 111 Perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2021-2023. Penggujian ini menggunakan metode analisis regresi berganda. Hasil penelitian ini menunjukan bahwa variabel Free Cash Flow berpengaruh terhadap manajemen laba, sedangkan Asimetri Informasi, Good Corporate Governance, Corporate Social Responsibility, dan Modal Intelektual tidak berpengaruh terhadap manajemen laba.

Peran Profitability sebagai Moderasi: Sales Growth, Transfer Pricing, Capital Intensity dan Tax Avoidance

2025-06-23

Maya Novitasari , Srikalimah Srikalimah , Munari Munari | Owner

Tax is the main income for the government, so it is very reasonable if the government wants all taxpayers in Indonesia to pay their tax obligations according to applicable policies. … Tax is the main income for the government, so it is very reasonable if the government wants all taxpayers in Indonesia to pay their tax obligations according to applicable policies. This study aims to analyze and prove the effect of sales growth, transfer pricing, and capital intensity on tax avoidance with profitability as a moderating variable in real estate and property companies listed on the Indonesia Stock Exchange during the 2020-2023 period. The data sources were obtained from the Indonesia Stock Exchange website and the official websites of each related company. The population in this study was 92 companies with a total sample of 328. This study shows that sales growth has an effect on tax avoidance, transfer pricing has no effect on tax avoidance, and capital intensity has no effect on tax avoidance. In addition, it is also shown that profitability is unable to moderate the effect of sales growth on tax avoidance, profitability is unable to moderate the effect of transfer pricing on tax avoidance, and profitability is unable to moderate the effect of capital intensity on tax avoidance.

Pengaruh Current Ratio, Debt To Equity Ratio, Dan Pertumbuhan Perusahaan Terhadap Nilai Perusahaan Subsektor Makanan dan Minuman

2025-06-23

Fahmi Febrianto , Lucky Adystian | Jurnal Cakrawala Akademika

Penelitian ini bertujuan untuk menganalisis pengaruh rasio keuangan, yaitu Current Ratio (CR), Debt to Equity Ratio (DER), dan pertumbuhan perusahaan terhadap nilai perusahaan pada perusahaan subsektor makanan dan minuman yang … Penelitian ini bertujuan untuk menganalisis pengaruh rasio keuangan, yaitu Current Ratio (CR), Debt to Equity Ratio (DER), dan pertumbuhan perusahaan terhadap nilai perusahaan pada perusahaan subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia selama periode 2019-2021. Data yang digunakan merupakan data sekunder dari laporan keuangan perusahaan, dianalisis menggunakan pendekatan kuantitatif dengan model regresi data panel dan pengujian asumsi klasik. Hasil penelitian menunjukkan bahwa DER memiliki pengaruh negatif yang signifikan terhadap nilai perusahaan, sementara CR dan pertumbuhan perusahaan menunjukkan pengaruh yang bervariasi dan tidak selalu signifikan. Temuan ini menegaskan pentingnya pengelolaan struktur modal dan likuiditas dalam meningkatkan nilai perusahaan serta memberikan wawasan strategis bagi manajemen dan investor di sektor makanan dan minuman di Indonesia. Penelitian ini juga menyoroti perlunya pengembangan model analisis yang lebih komprehensif dan memperluas cakupan variabel untuk memperoleh gambaran yang lebih lengkap tentang faktor-faktor yang mempengaruhi nilai perusahaan.

Peran Corporate Social Responsibility dalam Memoderasi Hubungan antara Kinerja Keuangan dan Nilai Perusahaan

2025-06-23

Firdha Aprillia , Hairul Triwarti | Journal of Economics and Management Scienties

Pertumbuhan bisnis yang pesat di era sekarang ini menuntut perusahaan buat mempunyai keterampilan dan kompetensi yang unggul dalam mengelola reputasi nilai perusahaan dengan tanggung jawab sosial perusahaan yang bertindak sebagai … Pertumbuhan bisnis yang pesat di era sekarang ini menuntut perusahaan buat mempunyai keterampilan dan kompetensi yang unggul dalam mengelola reputasi nilai perusahaan dengan tanggung jawab sosial perusahaan yang bertindak sebagai variabel moderasi, penelitian ini berupaya untuk menguji bagaimana leverage, likuiditas, dan profitabilitas memengaruh nilai perusahaan. Profitabilitas mencerminkan kebisaan perusahaan dalam menghasilkan laba dari kegiatan operasionalnya. Profitabilitas menjadi indikator utama bagi perusahaan buat memperlihatkan kinerja keuangan yang sehat dan berkelanjutan. Tingkat profitabilitas yang tinggi memperlihatkan efisiensi pengelolaan sumber daya, yang selanjutnya berdampak pada kepercayaan pasar Fokus penelitian ini adalah perusahaan manufaktur makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) untuk jangka waktu 2020 sampai 2023. Dengan menggunakan data sekunder dari laporan keuangan tahunan perusahaan, pendekatan penelitian kuantitatif digunakan. Program E-Views digunakan untuk menerapkan regresi data panel sebagai bagian dari pendekatan analisis data. Berdasarkan hasil penelitian, leverage sangat memengaruhi nilai perusahaan, sedangkan profitabilitas dan likuiditas hanya mempunyai dampak yang kecil. Selain itu, dampak utang, likuiditas, dan profitabilitas terhadap nilai perusahaan tidak dapat dimoderasi dengan Corporate Social Responsibility (CSR). Berdasarkan kesimpulan ini, untuk meningkatkan nilai perusahaan, manajemen harus lebih berkonsentrasi pada pengendalian elemen leverage dan struktur keuangan.

Pengaruh Profitabilitas, Kebijakan Dividen, dan Likuiditas Terhadap Nilai Perusahaan dengan Dimoderasi Kepemilikan Manajemen

2025-06-23

Wakhyu Hidayattulloh , Intiyas Utami , Etty Puji Lestari | COMSERVA Jurnal Penelitian dan Pengabdian Masyarakat

Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, kebijakan dividen, dan likuiditas terhadap nilai perusahaan, serta peran kepemilikan manajemen sebagai variabel moderasi yang dapat memperkuat atau memperlemah hubungan antar variabel tersebut. … Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, kebijakan dividen, dan likuiditas terhadap nilai perusahaan, serta peran kepemilikan manajemen sebagai variabel moderasi yang dapat memperkuat atau memperlemah hubungan antar variabel tersebut. Studi ini difokuskan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2020 hingga 2024, dengan mempertimbangkan dinamika ekonomi yang terjadi pada masa pasca-pandemi. Profitabilitas diukur dengan Return on Assets (ROA), kebijakan dividen menggunakan Dividend Payout Ratio (DPR), dan likuiditas melalui Current Ratio (CR), sedangkan nilai perusahaan diproksikan dengan Price to Book Value (PBV). Penelitian ini menggunakan pendekatan kuantitatif dan analisis regresi berganda, dilanjutkan dengan uji interaksi menggunakan Moderated Regression Analysis (MRA) untuk melihat pengaruh kepemilikan manajemen sebagai variabel moderasi. Hasil dari penelitian ini diharapkan memberikan kontribusi dalam pengambilan keputusan keuangan perusahaan dan menjadi bahan pertimbangan bagi investor dalam menilai faktor-faktor yang memengaruhi nilai perusahaan. Selain itu, temuan dalam penelitian ini juga dapat memperkaya literatur ilmiah di bidang manajemen keuangan, terutama dalam konteks tata kelola perusahaan dan strategi peningkatan nilai perusahaan di sektor manufaktur.

Pengaruh Struktur Modal terhadap Kinerja Keuangan Perusahaan pada Grup Indofood Periode 2020-2024

2025-06-23

Rachmad Dharmawan , Liza Novietta | GEMILANG Jurnal Manajemen dan Akuntansi

This research was conducted to determine how the capital structure affects the company's financial performance during the period 2020 to 2024. In this case, the capital structure is evaluated through … This research was conducted to determine how the capital structure affects the company's financial performance during the period 2020 to 2024. In this case, the capital structure is evaluated through two main indicators, namely the Debt to Equity Ratio (DER) and the Debt to Asset Ratio (DAR). Meanwhile, financial performance is evaluated based on two important measures: Return on Assets (ROA) and Return on Equity (ROE). The approach used in this research is quantitative with a combination of descriptive and verification analysis. The data source comes from the annual financial reports of six Indofood subsidiaries listed on the Indonesia Stock Exchange. To test the relationship between variables, multiple linear regression evaluation is used which is equipped with a classical assumption test to ensure the validity of the model used. From the evaluation results, it was found that the capital structure has a significant impact on financial performance, both when tested as a whole and per indicator. DER shows a positive relationship with ROE, which means that the greater the debt to equity ratio, the higher the potential profit obtained by shareholders. Conversely, DAR turns out to have a negative relationship with ROA. This shows that the greater the proportion of debt to total assets, the company's efficiency in generating profits tends to decrease. The conclusion of this finding highlights the importance of the right capital structure management strategy. Companies need to maintain a balance between the use of debt and equity in order to increase profitability without reducing overall operational efficiency.

PENGARUH PERISTIWA POLITIK PEMILIHAN PRESIDEN DAN VOLATILITAS PASAR TERHADAP ABNORMAL RETURN DENGAN TRADING VOLUME ACTIVITY SEBAGAI VARIABEL MEDIASI PADA PERUSAHAAN SEKTOR PERBANKAN DI BURSA EFEK INDONESIA

2025-06-22

Patrik Reinardus Marman , I Komang Arthana , Sari Angriany Natonis | Indo-Fintech Intellectuals Journal of Economics and Business

Abstract. This study examines the impact of political events, specifically presidential elections, and market volatility on abnormal returns in the banking sector listed on the Indonesia Stock Exchange (IDX), with … Abstract. This study examines the impact of political events, specifically presidential elections, and market volatility on abnormal returns in the banking sector listed on the Indonesia Stock Exchange (IDX), with trading volume activity as a mediating variable. Employing a quantitative approach, the research utilizes regression analysis on secondary data derived from financial reports of banking firms over a specified period. The findings reveal a statistically significant relationship between political events and market volatility in influencing abnormal returns. Additionally, trading volume activity is found to partially mediate this relationship. These results offer valuable insights for investors in assessing risk-return dynamics during politically sensitive periods and provide regulatory implications for maintaining market stability. The study contributes to the existing literature by integrating political economy and behavioral finance perspectives in the context of emerging markets. Abstrak. Penelitian ini menganalisis pengaruh peristiwa politik (pemilihan presiden) dan volatilitas pasar terhadap abnormal return pada perusahaan sektor perbankan di Bursa Efek Indonesia (BEI), dengan trading volume activity sebagai variabel mediasi. Pendekatan kuantitatif digunakan dengan metode analisis regresi berbasis data sekunder dari laporan keuangan perusahaan perbankan dalam periode tertentu. Hasil penelitian menunjukkan bahwa peristiwa politik dan volatilitas pasar berpengaruh signifikan terhadap abnormal return, sementara trading volume activity berperan sebagai mediator parsial. Temuan ini memberikan implikasi praktis bagi investor dalam pengambilan keputusan investasi selama periode ketidakpastian politik, serta bagi regulator dalam menjaga stabilitas pasar. Studi ini memperkaya literatur keuangan dengan menggabungkan perspektif ekonomi politik dan behavioral finance di konteks pasar berkembang.

Dampak yang Mempengaruhi Kinerja Saham Perusahaan Rokok pada Kenaikan Tarif Cukai

2025-06-22

Akbar Tanjung , Moh Khusnul Mubarak | Al-Ubudiyah Jurnal Pendidikan dan Studi Islam

Industri rokok memiliki kontribusi signifikan terhadap perekonomian Indonesia melalui penerimaan pajak dan penyerapan tenaga kerja. Penelitian ini bertujuan menganalisis dampak pengumuman kenaikan tarif cukai rokok terhadap kinerja saham perusahaan rokok … Industri rokok memiliki kontribusi signifikan terhadap perekonomian Indonesia melalui penerimaan pajak dan penyerapan tenaga kerja. Penelitian ini bertujuan menganalisis dampak pengumuman kenaikan tarif cukai rokok terhadap kinerja saham perusahaan rokok yang terdaftar di Bursa Efek Indonesia. Menggunakan metode event study, penelitian menganalisis abnormal return dari empat perusahaan rokok (GGRM, HMSP, RMBA, WIIM) pada periode sekitar pengumuman kenaikan tarif cukai 15 September 2023. Hasil menunjukkan terjadi abnormal return negatif signifikan pada periode t-3 hingga t+3, dengan penurunan terbesar (-2,87%) pada hari pengumuman. Cumulative Average Abnormal Return mencapai -10,20% pada t+4. Analisis menunjukkan perusahaan berkapitalisasi kecil (RMBA, WIIM) mengalami dampak lebih besar dibandingkan perusahaan besar (GGRM, HMSP). Kesimpulannya, pengumuman kenaikan tarif cukai berdampak negatif signifikan terhadap kinerja saham perusahaan rokok dengan intensitas berbeda berdasarkan ukuran perusahaan. Perusahaan rokok perlu mengembangkan strategi adaptasi melalui efisiensi biaya, inovasi produk, dan diversifikasi usaha.

Analysis of the Impact of Rights Issue Announcements on the Stock Returns of Companies Listed on the Indonesia Stock Exchange for the Period 2020-2023

2025-06-22

Winda Pujiyasari , Hustianto Sudarwadi , Verawati Simanjuntak | Amkop Management Accounting Review.

This study aims to determine whether there is a difference in the average stock return before and after the announcement of a rights issue in companies listed on the Indonesia … This study aims to determine whether there is a difference in the average stock return before and after the announcement of a rights issue in companies listed on the Indonesia Stock Exchange (IDX) during the period from 2020 to 2023. The primary focus of this study is to examine the market reaction to corporate information in the form of new share issuance through the rights issue mechanism, as well as to assess the extent to which this event affects investors' perceptions of the company's performance. This study employs a quantitative approach, utilizing a parametric Paired Sample T-Test to examine the difference in average stock returns before and after the announcement of a rights issue. The research sample consists of 42 companies that conducted a rights issue during the 2020–2023 period. The observation period used was five days before and five days after the announcement of the rights issue. The results indicate a difference in average stock returns before and after the announcement of the rights issue; however, this difference is not statistically significant. This finding suggests that the market does not respond substantially to the announcement of a rights issue, indicating that a rights issue does not provide a strong signal to investors. This contradicts the prediction of signal theory, which expects a positive reaction from investors to corporate information. This study has implications for investors to be more cautious in evaluating corporate information, and for companies to enhance transparency and communicate the objectives of the rights issue strategically to form positive market perceptions.

Pengaruh Perputaran Modal Kerja, Perputaran Kas, Perputaran Piutang, Perputaran Persediaan dan Perputaran Aktiva Tetap Terhadap Profitabilitas

2025-06-22

Syamsu Rijal Masyian , Rina Trisnawati | KENDALI Economics and Social Humanities

Penelitian ini bertujuan untuk menguji pengaruh perputaran modal kerja, perputaran kas, perputaran piutang, perputaran persediaan, dan perputaran aktiva tetap terhadap profitabilitas pada perusahaan konstruksi yang terdaftar di Bursa Efek Indonesia … Penelitian ini bertujuan untuk menguji pengaruh perputaran modal kerja, perputaran kas, perputaran piutang, perputaran persediaan, dan perputaran aktiva tetap terhadap profitabilitas pada perusahaan konstruksi yang terdaftar di Bursa Efek Indonesia selama periode 2018–2021. Penelitian ini menggunakan metode kuantitatif dengan data sekunder yang diperoleh dari laporan keuangan tahunan. Sampel terdiri dari 15 perusahaan yang dipilih melalui purposive sampling. Data dianalisis menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa secara parsial, beberapa variabel perputaran berpengaruh signifikan terhadap profitabilitas, sementara yang lain tidak. Secara simultan, variabel-variabel tersebut bersama-sama mempengaruhi profitabilitas. Temuan ini menunjukkan pentingnya bagi perusahaan konstruksi untuk mengoptimalkan pengelolaan sumber daya keuangan dan aset operasional guna meningkatkan kinerja dan mencapai profitabilitas yang berkelanjutan.

Peran Transparansi Laporan Keuangan kepada Pihak Eksternal dalam Meminimalisir Asimetri Informasi

2025-06-22

Novi Alvionita , Alisya Cahya Kamila , Lusianti Lusianti +2 more | Jurnal Ekonomi Bisnis dan Kewirausahaan

This study aims to analyze the impact of financial statement transparency in minimizing information asymmetry. Financial statement transparency is crucial in reducing information asymmetry between company management and external parties. … This study aims to analyze the impact of financial statement transparency in minimizing information asymmetry. Financial statement transparency is crucial in reducing information asymmetry between company management and external parties. Information asymmetry arises when management possesses more complete information, potentially leading to decisions detrimental to external stakeholders. Financial statements prepared in accordance with accounting standars such as IFRS or GAAP provide accurate and relevant information, supported by additional disclosures and independent external audits ,which enhhance stakeholder trust. Therefore, transparency not only reuces information asymmetry byt also support the principles of good corporate governance to foster a fair and sustainable bussiness environment.

Literatur Review: Laporan Keuangan sebagai Instrumen Deteksi Dini atas Kebangkrutan Perusahaan

2025-06-21

Aqilah Miranda , Edya Nashwa Septika , Citra Amelia Parsi +1 more | Deleted Journal

This research aims to examine in depth the role of financial statements as an instrument for early detection of potential corporate bankruptcy. Through a literature study approach of various scientific … This research aims to examine in depth the role of financial statements as an instrument for early detection of potential corporate bankruptcy. Through a literature study approach of various scientific sources between 2019 and 2025, this research highlights how information presented in financial statements, such as declining profits, increasing debt, and weakening liquidity, can be an early indicator of deteriorating financial conditions. Various predictive models such as Altman Z-Score, Springate, and Grover are discussed as tools in identifying the level of bankruptcy risk. The results show that the effectiveness of these models is highly dependent on the industry characteristics and financial structure of each company. In addition, the quantitative approach needs to be complemented with qualitative analysis to produce a more accurate diagnosis. The findings reinforce the importance of financial statements as a strategic tool in decision-making as well as an early warning system that can improve a company's preparedness for the threat of bankruptcy.

Impact of Operating Cash Flow and ROA on Stock Returns in LQ 45 Companies in Period 2018-2023

2025-06-21

Lyandra Aisyah Margie , H. Habibah | Golden Ratio of Finance Management

This study discusses the impact of operating cash flow and return on assets on stock returns in companies listed in the LQ 45 index on the Indonesia Stock Exchange (IDX) … This study discusses the impact of operating cash flow and return on assets on stock returns in companies listed in the LQ 45 index on the Indonesia Stock Exchange (IDX) for 2018-2023. The purpose of this study is to assist investors in making better investment decisions by analyzing financial factors such as operating cash flow and return on assets that can affect stock returns. This study uses secondary data from the annual reports of 22 companies listed in the LQ 45, which are analyzed using panel data regression with the help of Eviews software. The study's results indicate that simultaneously and partially, operating cash flow and return on assets have a positive effect on stock returns. The higher the operating cash flow and return on a company's assets, the higher the stock returns investors receive. This finding supports the signal theory, which states that information companies provide through financial statements can be a positive signal to investors regarding the company's prospects. However, there are limitations in this study, such as the relatively short research period and limited sample size.

Implementation of Financial Accounting Standards Statement Number 24 in Companies Conducting Initial Public Offerings in Indonesia

2025-06-21

Lativa Nurunnisa , Wiandy Pratama Putra , Neni Nuryati +1 more | ITQAN Journal of Islamic Economics Management and Finance

This study aims to analyze the implementation of the Financial Accounting Standards Statement (PSAK) Number 24 regarding the disclosure of post-employment benefits in companies conducting an Initial Public Offering (IPO) … This study aims to analyze the implementation of the Financial Accounting Standards Statement (PSAK) Number 24 regarding the disclosure of post-employment benefits in companies conducting an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI) in March 2025. The research method employed is content analysis of the financial statements of Initial Public Offering companies, with a particular focus on the Income Statement and Notes to the Financial Statements. The study sample consists of five companies that have either completed or are in the process of an Initial Public Offering, namely PT Sinar Terang Mandiri Tbk, PT Jantra Grupo Indonesia Tbk, PT Yupi Indo Jelly Gum Tbk, PT Medela Potentia Tbk, and PT Fore Kopi Indonesia Tbk. The findings indicate that these companies have generally implemented Financial Accounting Standards Statement Number 24 properly by engaging independent actuaries to calculate post-employment benefit obligations and providing adequate disclosure in their initial public offering statements.

PENGARUH MODAL KERJA, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN TELEKOMUNIKASI YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2021-2023

2025-06-20

Ningsih Faranita , Lustry Rahayu , Junita Cestilia Nenabu | Indo-Fintech Intellectuals Journal of Economics and Business

Profitabilitas merupakan kunci kelangsungan bisnis di era persaingan global, terutama dalam menghadapi batasan ekonomi masa depan. Tujuan penelitian untuk menganalisis pengaruh Modal Kerja, Likuiditas, dan Ukuran Perusahaan terhadap Profitabilitas pada … Profitabilitas merupakan kunci kelangsungan bisnis di era persaingan global, terutama dalam menghadapi batasan ekonomi masa depan. Tujuan penelitian untuk menganalisis pengaruh Modal Kerja, Likuiditas, dan Ukuran Perusahaan terhadap Profitabilitas pada sub sektor telekomunikasi yang tercatat di Bursa Efek Indonesia periode 2021–2023. Variabel Modal Kerja diukur dengan indikator Working Capital Turnover , Likuiditas dengan indikator Current Ratio , Ukuran Perusahaan diukur berdasarkan logaritma natural dari Total Aset, sedangkan Profitabilitas diukur dengan indikator Return on Assets . Penelitian ini menggunakan pendekatan kuantitatif dengan desain penelitian asosiatif kausal. Diambil dari 22 perusahaan telekomunikasi dalam populasi yang dipilih melalui teknik purposive sampling. Dengan menggunakan Eviews13, pendekatan regresi data panel digunakan untuk menganalisis data. Hasil penelitian menunjukkan bahwa secara parsial, Modal Kerja dan Likuiditas berpengaruh negatif namun tidak signifikan terhadap Profitabilitas. Sebaliknya, Ukuran Perusahaan menunjukkan pengaruh negatif dan signifikan terhadap Profitabilitas. Secara simultan, variabel independen ketiga yaitu Modal Kerja, Likuiditas, dan Ukuran Perusahaan, terbukti mempunyai pengaruh signifikan terhadap Profitabilitas pada perusahaan telekomunikasi yang tercatat di Bursa Efek Indonesia periode 2021-2023.

KONSERVATISME AKUNTANSI DAN RISIKO JATUHNYA HARGA SAHAM : SAHAM SYARIAH SEBAGAI VARIABEL MODERASI

2025-06-20

Nilam Sari , Usnan Usnan | Jurnal Ilmiah Manajemen Ekonomi & Akuntansi (MEA)

Penelitian ini menguji dampak konservatisme akuntansi terhadap risiko jatuhnya harga saham dengan saham syariah yang diinterpretasikan oleh Jakarta Islamic Index (JII) sebagai variabel moderasi, dengan fokus pada perusahaan manufaktur yang … Penelitian ini menguji dampak konservatisme akuntansi terhadap risiko jatuhnya harga saham dengan saham syariah yang diinterpretasikan oleh Jakarta Islamic Index (JII) sebagai variabel moderasi, dengan fokus pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periode 2019-2023. Penelitian ini menganalisis data dari 101 perusahaan, dengan 436 observasi menggunakan unbalanced panel data. Model Common Effect Model (CEM) dipilih berdasarkan uji hausman dan uji LM. Temuan penelitian menunjukkan bahwa 1) konservatisme akuntansi tidak berpenhgaruh signifikan terhadap risiko jatuhnya harga saham, 2) saham syariah tidak berpengaruh signifikan memoderasi hubungan konservatisme akuntansi terhadap risiko jatuhnya harga saham.

Analysis of The Influence of Dividend Policy On The Value of Manufacturing Companies at PT Bess Listed On The Idx

2025-06-20

Sulastriningsih Sulastriningsih , Nursiyami Nursiyami , Rusmiyatun Rusmiyatun | GEMILANG Jurnal Manajemen dan Akuntansi

This study aims to analyze the effect of dividend policy on mark company on company manufacturing PT BESS which registered in Exchange Effect Indonesia (BEI). Research methods the method used … This study aims to analyze the effect of dividend policy on mark company on company manufacturing PT BESS which registered in Exchange Effect Indonesia (BEI). Research methods the method used is quantitative method with an associative approach. Research data was obtained from the Stock Exchange report Indonesia (BEI) 2021-2025 through the official website of the Indonesia Stock Exchange (BEI) www.idx.co.id .The data analysis technique used is simple correlation descriptive statistical analysis , regression linear simple , determination test, and t-test . Analysis statistics descriptive used For describe variables in research This. Analysis regression linear simple aiming For know the magnitude influence policy dividend to mark company.Results study show that hypothesis Which state There is the influence of dividend policy on the value of the listed manufacturing company PT BESS on the Stock Exchange Indonesia (IDX) year 2021-2025 can proven by mark t count > t table = 854 > 805. R value = 924 shows that, the relationship (correlation) between policy dividends with company values manufacturing Which listed on the Indonesia Stock Exchange (IDX) in 2021-2025 is strong and positive. The more big policy dividend so the more increase mark company, Likewise, conversely, the smaller the dividend policy, the more it decreases. company value. The Adjusted R Square value = 805 shows that the contribution Which donated policy dividend to mark company manufacturing registered in stock Exchange Indonesia (IDX) year 2021-2025 is 14.6%.

Pengaruh Sistem Manufaktur Berkelanjutan terhadap Daya Saing Perusahaan Industri di Indonesia

2025-06-20

Nurmawaddah Pasaribu , Abdurrozzaq Hasibuan , Ade Syahputra +1 more | Deleted Journal

This study uses a qualitative method to examine the influence of sustainable manufacturing systems on the competitiveness of industrial companies in Indonesia. In an increasingly competitive global market, implementing sustainability … This study uses a qualitative method to examine the influence of sustainable manufacturing systems on the competitiveness of industrial companies in Indonesia. In an increasingly competitive global market, implementing sustainability principles in manufacturing systems has become a vital strategy to enhance operational efficiency, reduce environmental impact, and strengthen a company’s image in the eyes of consumers and stakeholders. This research focuses on how industrial companies in Indonesia integrate economic, social, and environmental aspects into their production processes and how such integration contributes to long-term competitiveness. Data were collected through in-depth interviews with production managers, analysis of internal company documents, and direct observation of sustainable manufacturing practices. The findings reveal that companies consistently applying sustainable manufacturing systems are able to improve product quality, expand market share, and enhance customer loyalty. Additionally, they are more adaptive to environmental regulations and market trends demanding corporate social responsibility. Thus, sustainability becomes a strategic factor in enhancing industrial competitiveness in Indonesia.

The Influence of Financial Performance and ESG on Firm Value with Firm Size as Moderator

2025-06-20

Ika Nur Avinda , Agus Maolana Hidayat , Budi Rustandi Kartawinata | International Journal of Accounting & Finance in Asia Pasific

Firm value illustrates how investors and the market view the company's ability to effectively manage its resources effectively. There are several factors that influence firm value, including financial performance, ESG, … Firm value illustrates how investors and the market view the company's ability to effectively manage its resources effectively. There are several factors that influence firm value, including financial performance, ESG, and firm size. This research aims to assess the impact of financial performance, ESG, and firm size on firm value, along with the role of firm size in influencing the relationship between financial performance and ESG on firm value. The analytical approach employed in this research is moderated regression analysis (MRA). The sample for this research includes firms engaged in the coal sector that are listed on the Indonesian Stock Exchange (IDX) from 2021 to 2023. Based on purposive sampling, 16 companies were selected. The results of the research indicate that there is a significant partial influence of financial performance, as measured by ROA, CR, and DER, on firm value. ESG disclosure also significantly influences firm value, and firm size also significantly influences firm value. Additionally, firm size, which is also used as a moderating variable, moderates the relationship between liquidity and firm value, as well as leverage and firm value. Through simultaneous testing, the independent variables and interaction variables significantly influence firm value.

PENGARUH TINGKAT KEMANDIRIAN, EFEKTIVITAS KEUANGAN DAN NILAI PERUSAHAAN TERHADAP KINERJA KEUANGAN

2025-06-20

Chris Indah Pratiwi , Baldric Siregar , Frasto Biyanto +1 more | IDEI Jurnal Ekonomi & Bisnis

Penelitian ini bertujuan untuk menganalisis pengaruh tingkat kemandirian, efektivitas, dan nilai perusahaan pada kinerja keuangan. Metode yang digunakan dalam penelitian ini adalah analisis regresi linier berganda dengan data sampel yang … Penelitian ini bertujuan untuk menganalisis pengaruh tingkat kemandirian, efektivitas, dan nilai perusahaan pada kinerja keuangan. Metode yang digunakan dalam penelitian ini adalah analisis regresi linier berganda dengan data sampel yang terdiri dari 36 observasi. Hasil analisis menunjukkan bahwa semua variabel independen, yaitu tingkat kemandirian, efektivitas, dan nilai perusahaan, memiliki pengaruh signifikan pada kinerja keuangan. Tingkat kemandirian dan efektivitas menunjukkan hubungan negatif, sementara nilai perusahaan memiliki hubungan positif dengan kinerja keuangan. Berdasarkan hasil uji F dan uji t, model regresi yang dibangun mampu menjelaskan sekitar 48,6% variasi dalam kinerja keuangan (R² = 0,486), dengan nilai Adjusted R² sebesar 0,438. Meskipun model ini dapat menjelaskan sebagian besar variasi dalam kinerja keuangan, masih terdapat faktor lain yang perlu diperhatikan. Penelitian ini memberikan wawasan mengenai pentingnya pengelolaan tingkat kemandirian, efektivitas, dan nilai perusahaan dalam meningkatkan kinerja keuangan organisasi.This study analyzed the impact of independence level, effectiveness, and corporate value on financial performance. The research method used was multiple linear regression analysis with a sample of 36 observations. The results showed that all independent variables, namely independence level, effectiveness, and corporate value, significantly affected financial performance. Both independence level and effectiveness exhibited a negative relationship, while corporate value had a positive relationship with financial performance. Based on the F-test and t-test results, the regression model was able to explain approximately 48.6% of the variation in financial performance (R² = 0.486), with an Adjusted R² value of 0.438. Although this model could explain a significant portion of the variation in financial performance, other factors still needed to be considered. This study provided insights into the importance of managing independence level, effectiveness, and corporate value in improving organizational financial performance.

Optimalisasi Kinerja Keuangan: Dampak Struktur Modal dan Keputusan Investasi terhadap Profitabilitas Perusahaan Manufaktur

2025-06-19

Dita Ardianti , Mulyati Mulyati , Rizky Ramadhan | JURNAL ECONOMIC RESOURCE

Tujuan utama dari setiap perusahaan adalah memperoleh laba, sehingga perusahaan selalu berusaha untuk meningkatkan laba dari waktu ke waktu melalui berbagai strategi bisnis. Laba yang ditargetkan tersebut umumnya diukur menggunakan … Tujuan utama dari setiap perusahaan adalah memperoleh laba, sehingga perusahaan selalu berusaha untuk meningkatkan laba dari waktu ke waktu melalui berbagai strategi bisnis. Laba yang ditargetkan tersebut umumnya diukur menggunakan rasio keuangan yang dikenal sebagai rasio profitabilitas. Rasio ini digunakan untuk menilai kemampuan perusahaan dalam menghasilkan keuntungan serta mengukur efektivitas kinerja manajemen dalam mengelola sumber daya yang dimiliki. Informasi mengenai profitabilitas sangat penting bagi investor karena menjadi dasar utama dalam pengambilan keputusan investasi di pasar modal. Investasi sendiri sangat dipengaruhi oleh ketersediaan dana, baik yang bersumber dari eksternal (utang) maupun internal (ekuitas). Struktur modal yang tepat dan optimal akan membantu perusahaan meminimalkan biaya modal serta meningkatkan nilai perusahaan secara keseluruhan. Di sisi lain, keputusan investasi juga menjadi elemen penting dalam meningkatkan nilai perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh struktur modal dan keputusan investasi terhadap profitabilitas perusahaan manufaktur di BEI periode 2022–2024 dengan pendekatan kuantitatif. Menggunakan data numerik untuk menganalisis hubungan antara variabel-variabel yang diteliti. Hasil penelitian menunjukkan secara parsial struktur modal tidak berpengaruh terhadap profitabilitas, sementara keputusan investasi berpengaruh signifikan. Namun, secara simultan, keduanya berpengaruh signifikan. Temuan ini memiliki implikasi bagi manajemen, investor, dan peneliti selanjutnya.

Pengaruh Likuiditas dan Solvabilitas terhadap Profitabilitas (Studi pada Perusahaan Otomotif yang Terdaftar di Bursa Efek Indonesia

2025-06-19

Dwi Lira Anugrahni , Sifera Patricia Maithy | Deleted Journal

The automotive industry in Indonesia has shown rapid development in recent years, driven by increasing public interest in motorized vehicles, stable economic growth and infrastructure progress. Automotive companies are required … The automotive industry in Indonesia has shown rapid development in recent years, driven by increasing public interest in motorized vehicles, stable economic growth and infrastructure progress. Automotive companies are required to innovate and increase competitiveness in an increasingly competitive market. A company's financial performance, especially profitability, is an important indicator in assessing effectiveness and efficiency in generating profits. A high profitability ratio reflects the company's ability to utilize resources optimally. Apart from that, liquidity and solvency ratios also affect company profitability. This research aims to analyze the influence of the Liquidity Ratio (Current Ratio) and Solvency Ratio (Debt to Equity Ratio) on the Profitability Ratio (Return of Assets) in six automotive subsector companies listed on the Indonesian Stock Exchange, namely Astra International Tbk, Astra Otoparts Tbk, Gajah Tunggal Tbk, Indomobil Sukses Internasional Tbk, Indospring Tbk, and Multi Prima Sejahtera Tbk, during the period 2020–2024. The research method used is quantitative, where research data is in the form of numbers and analysis uses statistics (Sugiyono, 2022). The data used is secondary data obtained from the company's annual financial reports. It is hoped that the research results can contribute to understanding the extent to which liquidity ratios and solvency ratios influence the profitability of automotive companies in Indonesia during the 2020–2024 period. It is hoped that these findings can be used as consideration for company management in making strategic decisions to improve the company's financial performance and competitiveness in the market.

The Role of Price to Book Value in Mediating the Effect of Current Ratio and Net Profit Margin on Stock Price (An Empirical Study on Broadcasting Companies Listed on the Indonesia Stock Exchange)

2025-06-19

Arumawan Mei Saputra , Munawaroh Munawaroh , Dhistianti Mei Rahmawantari | KRISNADWIPAYANA INTERNATIONAL JOURNAL OF MANAGEMENT STUDIES

This research aims to examine the role of market value in mediating liquidity and profitability on Stock Prices in the broadcasting industry listed on the Indonesia Stock Exchange (IDX-IC) during … This research aims to examine the role of market value in mediating liquidity and profitability on Stock Prices in the broadcasting industry listed on the Indonesia Stock Exchange (IDX-IC) during the 2017-2022 period. The research method employs Non-Probability Sampling with the Purposive Sampling technique. The population consists of sector E classification industries, while the targeted sample includes sub-sector E6 Media and Entertainment, Advertising, Printing & Media, specifically sub-industry E612 broadcasting media industries, with a total of five (5) industries that operate Free To Air (FTA) broadcasting. Data testing utilizes SPSS V.23 and Amos V.24. The descriptive statistics in this study adopt a quantitative approach with secondary data, and the data testing technique involves classical assumption tests, correlation tests, and regression tests using Structural Equation Modeling (SEM). The research findings are as follows: (1) The effect of the Current Ratio on Stock Prices is positive and significant, as indicated by a factor loading value of 0.232, a directional relationship value of 0.177, and a Net Profit Margin value of 0.016, which is below the significance level of 0.05. (2) The effect of the Net Profit Margin on Stock Prices is significant and negative, with a factor loading value of -0.252, a directional relationship value of -0.015, and a Net Profit Margin value of 0.032, which is below the significance level of 0.05. (3) The effect of Price to Book Value on Stock Prices is positive and significant, with a factor loading value of 0.477, a directional relationship value of 0.012, and a probability value of 0.000, which is below the significance level of 0.05. (4) The effect of the Current Ratio on Price to Book Value is negative and not significant, with a factor loading value of -0.011, a directional relationship value of -0.348, and a Net Profit Margin value of 0.896, which is above the significance level of 0.05. (5) The effect of the Net Profit Margin on Price to Book Value is positive and significant, with a factor loading value of 0.612, a directional relationship value of 1.509, and a Net Profit Margin value of 0.000, which is below the significance level of 0.05. (6) The effect of the Current Ratio on Stock Prices through Price to Book Value is negative and not significant, with a factor loading value of -0.005, a directional relationship value of -0.130, and a Net Profit Margin value of 0.896, which is above the significance level of 0.05. (7) The effect of the Net Profit Margin on Stock Prices through market value is positive and significant, with a factor loading value of 0.292, a directional relationship value of 3.491, and a Net Profit Margin value of 0.000, which is above the significance level of 0.05.

Faktor-Faktor yang Mempengaruhi Harga Saham pada Perusahaan LQ45

2025-06-19

Noventin Entelina Panjaitan , Dio Welsen | Jurnal Ilmu Manajemen Ekonomi dan Kewirausahaan

This study is motivated by the phenomenon of increasing investor interest in stocks included in the LQ45 index. This study aims to test the effect of Liquidity, Leverage, Profitability, Price … This study is motivated by the phenomenon of increasing investor interest in stocks included in the LQ45 index. This study aims to test the effect of Liquidity, Leverage, Profitability, Price to Book Value on stock prices. In this study, the variables Liquidity, Leverage, Profitability and Price to Book Value act as independent variables, in addition, the dependent variable used is stock price. The sample in this study was the LQ45 index companies listed on the IDX in 2021-2023 with a total sample of 123 samples. Sample selection was based on the purposive sampling method with criteria and requirements determined by the researcher. The analysis method used in this study is multiple linear regression analysis using the SPSS 25 application. The results of the study show that Liquidity, Leverage, Profitability, Price to Book Value simultaneously affect stock prices. Partially, the Liquidity variable has a negative effect on stock prices while Leverage, Profitability, Price to Book Value does not affect stock prices.

Dampak Tingkat Pengembalian yang Diharapkan, Leverage Keuangan dan Likuiditas terhadap Efesiensi Anggaran Modal

2025-06-19

Adeanto Putra Satyatama , Annisa Nurul Pebriyanti , Dewi Nur Azizah +2 more | GEMILANG Jurnal Manajemen dan Akuntansi

This study aims to examine the impact of expected rate of return, financial leverage, and liquidity on capital budget efficiency in companies listed on the Indonesia Stock Exchange in 2023. … This study aims to examine the impact of expected rate of return, financial leverage, and liquidity on capital budget efficiency in companies listed on the Indonesia Stock Exchange in 2023. The research method uses a quantitative approach with multiple linear regression analysis techniques. The sample consists of 60 companies selected through a purposive sampling method. The results of the study indicate that simultaneously, expected rate of return, financial leverage, and liquidity have a significant effect on capital budget efficiency. Partially, financial leverage and liquidity have a significant effect on capital budget efficiency, while the expected rate of return does not have a significant effect. The R Square value of 0.264 indicates that 26.4% of the variation in capital budget efficiency can be explained by the three independent variables. The classical assumption test shows that the regression model is free from multicollinearity problems and the residuals are normally distributed. These findings imply that companies need to pay attention to financing structure and liquidity management in order to improve the efficiency of capital budget use.

Restructuring The Company’s Financial Performance Through Corporate Actions of Construction Sector BUMN Companies In 2017-2023

2025-06-19

Muhammad Naufal , Arda Raditya Tantra , Fitri Dwi Jayanti | GEMILANG Jurnal Manajemen dan Akuntansi

This study aims to analyse the effect of financial performance of BUMN Construction on firm value before and after merging. This study uses moderating variables, namely mergers as a restructuring … This study aims to analyse the effect of financial performance of BUMN Construction on firm value before and after merging. This study uses moderating variables, namely mergers as a restructuring step with the aim of knowing whether mergers have an impact on strengthening or weakening the effect of financial performance on firm value. This research uses quantitative methods with a sample of 7 BUMN companies in the construction sector. Data analysis techniques using Eviews12 with panel data regression and MRA testing. The results show that financial performance 1) ROA has a positive but insignificant effect on firm value, 2) CR has a positive and significant effect on firm value, 3) DER has a negative and insignificant effect on firm value, 4) TATO has a positive and significant effect on firm value, 5) Company Size has a positive and significant effect on firm value, 6) Merger is able to moderate the effect of ROA on firm value, 7) Merger is able to moderate the effect of CR on firm value, 8) Merger is not able to moderate the effect of DER on firm value, 9) Merger is able to moderate the effect of TATO on firm value, 10) Merger is able to moderate the effect of Company Size on firm value. The conclusion in this study is that the overall impact of the Merger is able to strengthen financial performance on firm value.

Analisis Pengaruh Rasio Profitabilitas dan Rasio Likuiditas terhadap Nilai Perusahaan Subsektor Otomotif yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2021-2024

2025-06-19

Aprilia Anjelita , Sifera Patricia Maithy | Deleted Journal

This study aims to analyze the effect of liquidity ratios and profitability ratios on the value of automotive subsector companies listed on the Indonesia Stock Exchange (IDX) during 2021-2024. The … This study aims to analyze the effect of liquidity ratios and profitability ratios on the value of automotive subsector companies listed on the Indonesia Stock Exchange (IDX) during 2021-2024. The subjects of this study are eight automotive companies selected based on the availability of financial reports. Firm value is measured using Price Book Value (PBV), while profitability ratios are measured using Return On Assets (ROA) and liquidity ratios are measured using Current Ratio (CR). The research method used was quantitative, with data processing conducted using SPSS software. The results of the regression analysis indicate that ROA has a positive and significant influence on PBV, with a coefficient value of 12.340 and significance of 0.000. Conversely, CR does not show a significant effect on PBV, with a coefficient value of -0.027 and significance of 0.653. The coefficient of determination shows that 84.8% of the variation in PBV can be explained by the independent variables studied, while the remaining 15.2% is influenced by other factors not studied in this research. From the results of this study, it can be concluded that profitability ratios, particularly ROA, are more dominant indicators in influencing company value than liquidity ratios. These findings are expected to provide insights for investors and automotive company management in decision-making related to increasing company value. This study also suggests the need to pay more attention to other factors that may influence company value in the future.

Do Mass Media News Affect Market Value?

2025-06-18

Fikri Nur Yahya , Bandi Bandi | Journal of Economics Finance and Management Studies

This study aims to analyze the influence of mass media coverage on the market value of banking companies in Indonesia. In the context of financial markets, mass media plays an … This study aims to analyze the influence of mass media coverage on the market value of banking companies in Indonesia. In the context of financial markets, mass media plays an important role in disseminating information that can affect investors’ expectations regarding the future performance of companies. Using signal theory, this study assumes that positive media coverage can serve as a signal that enhances investors’ positive perceptions, thereby impacting an increase in the company’s market value. This study uses panel data from 28 banking companies listed on the Indonesia Stock Exchange during the period 2019–2023. News data were collected from five major news portals in Indonesia, namely Detik.com, Kompas.com, Liputan6.com, Tribunnews.com, and CNNIndonesia.com. The dependent variable in this study is the market value, calculated based on the stock closing price multiplied by the number of outstanding shares. Meanwhile, the main independent variable is the amount of positive or neutral mass media coverage, and control variables include net income and the company’s total assets. The panel data regression analysis results show that positive mass media coverage has a significant positive effect on the company’s market value. Additionally, net income and total assets also have a significant positive effect on market value. However, the relatively low coefficient of determination (R-squared) indicates that the model still needs to be developed by adding other relevant independent variables. This study provides empirical evidence that mass media coverage, financial performance, and asset structure are important factors influencing the market value of banking companies in Indonesia. These findings have practical implications for company management in designing effective communication strategies and open opportunities for further research on the influence of media on company value.

Dimensi Pengungkapan Integrated Report dalam Menentukan Biaya Modal Ekuitas dengan External Financing Needs sebagai Variabel Moderasi

2025-06-18

Filqy Nur Lailiyah , Ika Permatasari | Jurnal Akuntansi Ekonomi dan Manajemen Bisnis

The purpose of this study is to examine the extent to which the breadth of integrated report (IR) disclosure influences the cost of equity capital, as well as the role … The purpose of this study is to examine the extent to which the breadth of integrated report (IR) disclosure influences the cost of equity capital, as well as the role of external financing needs (EFN) as a moderating variable. This research analyzes data from companies included in the ESG index. The findings indicate that the level of integrated reporting (IR) disclosure does not have a significant impact on the magnitude of the company’s cost of equity capital. This suggests that merely increasing the quantity of information in the report is insufficient to reduce investors’ risk perception if the quality and clarity of the information do not reflect the company’s fundamental conditions. Conversely, EFN has been proven to significantly moderate this relationship. This implies that a credible funding structure can serve as a signal of financial discipline that enhances investor confidence. This study underscores the importance of considering a company’s financial condition when assessing the effectiveness of IR as a tool for communicating information to the capital market.

PENGARUH RETURN ON ASSET (ROA), RETURN ON EQUITY (ROE) DAN NET INTEREST MARGIN (NIM) TERHADAP LABA PER SAHAM PADA PT BANK MEGA TBK PERIODE 2008-2024

2025-06-18

Andriani Maryam , Reva Aulia , Nailah Madaniah +3 more | JURNAL ONLINE INSAN AKUNTAN

Analysis of the Impact of Governance on Company Value in Manufacturing Companies using Capital Structure Policy as a Mediating Variable

2025-06-18

N. Agus Sunarjanto , Amelisa | Journal of Economics Finance and Management Studies

This study focuses on the analysis of how governance and company value are influenced by capital structure policy as a mediating variable within manufacturing firms. It investigates the impact of … This study focuses on the analysis of how governance and company value are influenced by capital structure policy as a mediating variable within manufacturing firms. It investigates the impact of corporate governance on company value via capital structure policy. The study focuses on industrial firms that are listed between 2020 and 2024 on the Indonesia Stock Exchange. Following the established criteria, a total of 142 manufacturing companies were selected as samples. A purposive sampling technique was employed, and the analysis was conducted using panel data methods with Eviews software. The results indicate that corporate governance, particularly in the form of institutional ownership, significantly affects company value.

Pengaruh Frekuensi Perdagangan, Volume Perdagangan, Trading Day, dan Volatilitas Pasar terhadap Return Saham Perusahaan Sektor Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia Tahun 2020–2024

2025-06-18

Nilam Sari , Sintia Safrianti , Janusi Waliamin | ARZUSIN

The stock market is a dynamic investment instrument where various micro-market factors influence stock price movements and the returns received by investors. This study aims to analyze the effect of … The stock market is a dynamic investment instrument where various micro-market factors influence stock price movements and the returns received by investors. This study aims to analyze the effect of trading frequency, trading volume, trading day, and market volatility on the stock returns of consumer goods sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. A quantitative approach was employed, with the population comprising all consumer goods sector companies on the IDX and a purposive sample of 41 companies. Data were obtained from annual financial reports and analyzed using classical assumption tests, multiple linear regression, and hypothesis testing with SPSS software. The results indicate that trading frequency and market volatility significantly affect stock returns, while trading volume and trading day do not have a significant impact. These findings confirm that trading frequency and volatility are critical indicators for stock investment decision-making. The implication is that investors and capital market players should consider these variables to develop more accurate and responsive investment strategies aligned with market dynamics.

RELATED PARTY TRANSACTIONS AS A MODERATOR OF THE EFFECT OF INVESTMENT DECISIONS ON FIRM VALUE

2025-06-17

Moh. Ubaidillah , Risna Marsadena | Jurnal Akuntansi Keuangan Perpajakan dan Tata Kelola Perusahaan

A decrease in company value needs to be considered because it has an impact on decreasing interest in buying shares and public interest in buying their products. The purpose of … A decrease in company value needs to be considered because it has an impact on decreasing interest in buying shares and public interest in buying their products. The purpose of this study was to determine the effect of related party transactions on firm value with investment decisions as a moderating variable. This research method uses a quantitative approach using secondary data on manufacturing companies. The research population is manufacturing companies listed on the IDX in 2020-2023, totalling 165 companies. The data collection method uses perposive sampling which results in 75 company samples with 300 processed financial data. The analysis technique uses linear regression with SPSS version 24. The results of this study indicate that Related Party Transactions have a significant negative effect on firm value. Investment decisions have a significant positive effect on firm value. Furthermore, Related Party Transactions are able to moderate the effect of investment decisions on firm value in a significant positive manner. Keywords: Related Party Transaction, Investment Decisions, Firm Value

Ukuran Perusahaan sebagai Pemoderasi Pengaruh Status Indeks Saham Syariah terhadap Nilai Perusahaan: Bukti dari Jakarta Islamic Index

2025-06-17

Renny Wulandari , Alfa Rahmiati , Risal Risal +1 more | Tangible Journal

Tujuan penelitian ini untuk menguji peran ukuran perusahaan sebagai variabel moderasi pada pengaruh status perusahaan terindeks saham syariah terhadap nilai perusahaan. Menggunakan 720 observasi perusahaan-tahun yang terindeks dalam Jakarta Islamic … Tujuan penelitian ini untuk menguji peran ukuran perusahaan sebagai variabel moderasi pada pengaruh status perusahaan terindeks saham syariah terhadap nilai perusahaan. Menggunakan 720 observasi perusahaan-tahun yang terindeks dalam Jakarta Islamic Index (JII) dari tahun 2012-2023 diuji dengan metode Moderated Regression Analysis (MRA). Hasil uji membuktikan bahwa status perusahaan terindeks saham syariah memiliki pengaruh positif terhadap nilai perusahaan. Namun, pengaruh positif ini akan melemah seiring dengan besarnya perusahaan. Temuan penelitian ini menunjukkan bahwa biaya agensi dan kompleksitas manajerial pada perusahaan besar dapat mengurangi manfaat status perusahaan terindeks saham syariah dalam meningkatkan nilai perusahaan. Penelitian ini memberikan kontribusi teoritis dengan mendukung teori sinyal, yang menyatakan bahwa sinyal positif dari status syariah dapat terdistorsi oleh tantangan operasional pada perusahaan besar. Implikasi praktis bagi manajer perusahaan, perusahaan besar yang terindeks syariah perlu meningkatkan efisiensi pengelolaan aset dan mengurangi agency costs untuk memaksimalkan manfaat dari status terindeks syariah.

Efektivitas Pendanaan Kredit Usaha Rakyat dalam Pengembangan Usaha Dagang Rukun Jaya

2025-06-16

Chintia Sari , Nanda Cecharia , Rizky Oktavian Ramadhan +1 more | Maslahah Jurnal Manajemen dan Ekonomi Syariah

This research analyzes the effectiveness of People's Business Credit (KUR) financing in facilitating the development of Rukun Jaya Trading Business, a micro, small, and medium enterprise (MSME) specializing in the … This research analyzes the effectiveness of People's Business Credit (KUR) financing in facilitating the development of Rukun Jaya Trading Business, a micro, small, and medium enterprise (MSME) specializing in the processing of kupang skin into animal feed. The rationale for this study is grounded in the pivotal role that micro, small, and medium enterprises (MSMEs) play in the Indonesian economy, alongside the persistent financial constraints they encounter challenges that the People's Business Credit (KUR) program seeks to address as a government-backed financing initiative.The objective of this study is to assess the degree to which the People's Business Credit (KUR) contributes to the advancement of the enterprise. A descriptive qualitative methodology is employed, utilizing data collection techniques such as interviews, observations, and document analysis.The findings indicate that KUR financing has proven effective in enhancing working capital, improving operational efficiency, and strengthening the enterprise's capacity to fulfill its credit obligations all of which contribute to the achievement of sustainable business growth. The implications of this study are intended to offer strategic insights for business owners in making informed decisions, assist financial institutions in enhancing the effectiveness of KUR distribution, and support government efforts in designing more targeted and impactful policies for MSME development.

PENGARUH RASIO LIKUIDITAS DAN LEVERAGE TERHADAP KINERJA PROFITABILITAS PERUSAHAAN MANUFAKTUR SEKTOR BARANG BAKU DI BEI

2025-06-16

Yasmir Yasmir , Ira Widyastuti | Jurnal Administrasi Sosial dan Humaniora

Penelitian ini bertujuan untuk menganalisis pengaruh Debt to Equity Ratio dan Current Ratio terhadap Return on Assets pada 61 perusahaan selama periode 2022?2024. Metode penelitian yang digunakan adalah pendekatan kuantitatif … Penelitian ini bertujuan untuk menganalisis pengaruh Debt to Equity Ratio dan Current Ratio terhadap Return on Assets pada 61 perusahaan selama periode 2022?2024. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan analisis regresi linier berganda. Pengujian asumsi klasik meliputi uji normalitas, multikolinearitas, dan heteroskedastisitas menunjukkan bahwa data memenuhi syarat kelayakan model regresi. Hasil analisis regresi menunjukkan bahwa secara simultan Debt to Equity Ratio dan Current Ratio tidak berpengaruh signifikan terhadap Return on Assets, dengan nilai signifikansi sebesar 0,769 (> 0,05). Nilai koefisien determinasi (R Square) sebesar 0,003 menunjukkan bahwa kedua variabel independen hanya mampu menjelaskan 0,3% variasi dalam Return on Assets, sedangkan sisanya dijelaskan oleh faktor lain di luar model. Temuan ini mengindikasikan bahwa kinerja keuangan perusahaan, khususnya pengembalian atas aset, lebih dipengaruhi oleh variabel lain di luar struktur modal dan likuiditas.

THE EFFECT OF RECEIVABLES TURNOVER AND CURRENT RATIO ON PROFITABILITY IN MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2021-2023

2025-06-16

Yunita Delfin Sihombing , Kristi Endah Ndilosa Ginting , Mella Yunita | International Journal of Accounting Management Economics and Social Sciences (IJAMESC)

Profitability is a fundamental component in reviewing the success of management in managing the company's financial performance. The purpose of this study is to examine whether the receivables turnover and … Profitability is a fundamental component in reviewing the success of management in managing the company's financial performance. The purpose of this study is to examine whether the receivables turnover and current ratio (CR) have an effect on profitability. The population of this study is manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2023 period. The sample of this study is 25 companies that are determined through a quantitative approach method using data in numerical form which is collected through secondary data processing, namely financial statements that are published and can be accessed through the IDX Data collection technique from the IDX website, namely www.idx.co.id. Through the results of the study, it was found that the turnover of receivables does not have a significant influence on profitability and CR has a significant influence on profitability for Manufacturing Companies listed on the IDX in 2021-2023.

Rasio Likuiditas dan Leverage terhadap Return Saham

2025-06-16

Miratul Husna Neris , Siti Atikah | Jurnal Minfo Polgan

Investasi didefinisikan sebagai aktivitas penempatan dana dalam jangka waktu tertentu dengan tujuan memperoleh imbal hasil pada periode yang akan datang. Penelitian ini bertujuan untuk menginvestigasi pengaruh rasio likuiditas, yang terdiri … Investasi didefinisikan sebagai aktivitas penempatan dana dalam jangka waktu tertentu dengan tujuan memperoleh imbal hasil pada periode yang akan datang. Penelitian ini bertujuan untuk menginvestigasi pengaruh rasio likuiditas, yang terdiri atas current ratio dan quick ratio, serta rasio leverage, yang meliputi debt to equity ratio dan debt to asset ratio, terhadap return saham. Pendekatan penelitian yang digunakan bersifat kuantitatif dengan metode analisis panel least squares, serta diolah menggunakan perangkat lunak EViews 13. Data diperoleh dari Bursa Efek Indonesia (IDX) dan situs resmi masing-masing perusahaan yang tergabung dalam indeks LQ45, dengan total sampel sebanyak 36 perusahaan selama periode 2021 hingga 2023. Hasil analisis secara parsial menunjukkan bahwa baik rasio likuiditas maupun rasio leverage tidak memberikan pengaruh yang signifikan terhadap return saham. Temuan ini tidak mendukung asumsi dasar dalam teori sinyal, yang menyatakan bahwa informasi keuangan dapat berfungsi sebagai sinyal positif bagi investor dalam proses pengambilan keputusan investasi. Oleh karena itu, penelitian selanjutnya disarankan untuk memasukkan variabel-variabel lain guna memperoleh pemahaman yang lebih menyeluruh mengenai determinan return saham.

Pengaruh Profitabilitas terhadap Nilai Perusahaan Melalui Kebijakan Dividen

2025-06-16

Indo Marlindo , Yaya Sonjaya , Entar Sutisman +2 more | ATESTASI Jurnal Ilmiah Akuntansi

Tujuan: Penelitian ini bertujuan untuk menguji pengaruh Return on Equity (ROE) terhadap Price to Book Value (PBV) secara langsung dan tidak langsung melalui mediasi Dividend Payout Ratio (DPR) pada perusahaan … Tujuan: Penelitian ini bertujuan untuk menguji pengaruh Return on Equity (ROE) terhadap Price to Book Value (PBV) secara langsung dan tidak langsung melalui mediasi Dividend Payout Ratio (DPR) pada perusahaan emiten LQ45. Desain Penelitian dan Metodologi: Penelitian menggunakan pendekatan kuantitatif dengan jenis explanatory research dan metode analisis SEM-PLS menggunakan SmartPLS. Populasi penelitian adalah perusahaan dalam indeks LQ45 di BEI tahun 2019–2023 dengan teknik purposive sampling. Hasil dan Pembahasan: Hasil penelitian menunjukkan bahwa ROE tidak berpengaruh signifikan terhadap PBV secara langsung, namun ROE berpengaruh negatif signifikan terhadap DPR. DPR memiliki pengaruh positif signifikan terhadap PBV dan terbukti memediasi hubungan antara ROE dan PBV secara signifikan. Implikasi: Hasil ini mengindikasikan bahwa kebijakan dividen menjadi sarana penting dalam mentransmisikan kinerja profitabilitas kepada nilai pasar perusahaan. Oleh karena itu, pengelolaan dividen yang strategis dapat memperkuat persepsi investor dan meningkatkan nilai perusahaan secara tidak langsung.

Pengaruh Capital Expenditure, Interest Coverage Ratio, dan Inflasi terhadap Harga Saham (Studi Keuangan pada Sektor Basic Material yang Terdaftar di BEI Tahun 2023)

2025-06-16

Resti Nurdianti , Dicky Jhoansyah , Resa Nurmala | Journal of Economics and Management Scienties

Penelitian ini bertujuan untuk menguji pengaruh capital expenditure, interest coverage ratio, dan inflasi terhadap harga saham pada sektor basic material yang terdaftar di BEI pada tahun 2023. Dengan menggunakan metode … Penelitian ini bertujuan untuk menguji pengaruh capital expenditure, interest coverage ratio, dan inflasi terhadap harga saham pada sektor basic material yang terdaftar di BEI pada tahun 2023. Dengan menggunakan metode purposive sampling, penelitian ini memilih perusahaan yang memenuhi kriteria tertentu, sehingga menghasilkan sampel sebesar 51 perusahaan. Teknik analisis data yang digunakan dalam penelitian ini adalah uji asumsi klasik, regresi linear berganda, koefisien determinasi, uji parsial (uji t), dan uji simultan (uji f). hasil penelitian menunjukkan bahwa capital expenditure berpengaruh positif dan signifikan terhadap harga saham, hal ini menunjukkan bahwa pasar sebagai sinyal positif sehingga mencerminkan kepercayaan investor. Interest coverage ratio secara positif dan signifikan mempengaruhi harga saham, menunjukkan bahwa perusahaan memiliki kemampuan yang baik dalam membayar beban bunga atas utangnya. Sedangkan inflasi secara negative dan signifikan mempengaruhi harga saham, yang mengindikasikan bahwa perusahaan menciptakan lingkungan yang lebih kondusif. Penelitian ini memberikan saran agar perusahaan perlu mengurangi ketergantungan pada pembiayaan utang berbunga tinggi dan perbaiki struktur modal, serta meningkatkan laba operasional melalui efisiensi biaya dan peningkatan margin.

Analisis Teknikal Sebagai Dasar Pengambilan Keputusan dalam Trading Saham pada Bursa Efek Indonesia (Studi pada BBCA dan BBRI Januari-Juni 2024)

2025-06-16

Masnawaty Sangkala | GEMILANG Jurnal Manajemen dan Akuntansi

This study aims to examine stock price movements using the Bollinger Bands (BB) and Relative Strength Index (RSI) indicators as a reference in making stock buying and selling decisions. The … This study aims to examine stock price movements using the Bollinger Bands (BB) and Relative Strength Index (RSI) indicators as a reference in making stock buying and selling decisions. The data analyzed includes daily movements of PT Bank Central Asia Tbk (BBCA) and PT Bank Rakyat Indonesia Persero Tbk (BBRI) shares during the period January-June 2024. The research method utilizes the BB indicator to measure volatility and price movement patterns, as well as RSI to detect overbought and oversold conditions. The results show that optimal stock purchases occur when the price is outside the BB lower band line with an RSI value below 30. Conversely, optimal stock sales are made when the price is outside the BB upper band line with an RSI value above 70. The combination of these two indicators proves effective in producing more accurate transaction signals, thus helping investors determine the timing of transactions more precisely. This research provides practical benefits for investors in applying technical analysis to reduce the risk of loss and increase profit opportunities in the capital market.