Abstract:This study aims to analyze the effect of capital structure on firm value with profitability as a moderating variable in consumer non-cyclical sector companies listed on the Indonesia Stock Exchange during 2021–2024. Capital…
pital structure was measured using Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER), firm value was proxied by Price to Book Value (PBV), while profitability was measured using Return on Assets (ROA). This research applied a quantitative approach using secondary data obtained from annual financial reports. The sample consisted of 154 observations selected through purposive sampling. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA) with SPSS software. The results show that DAR has a positive and significant effect on firm value, while DER has a negative but insignificant effect on firm value. Simultaneously, DAR and DER significantly affect firm value. Furthermore, profitability (ROA) is proven to strengthen the relationship between DAR and firm value as well as between DER and firm value. These findings indicate that an optimal capital structure supported by strong profitability can increase firm value. Therefore, companies should maintain a balanced financing composition and improve profitability to enhance market valuation.
Abstract:This study aims to examine the effect of the Current Ratio (CR) and Debt to Equity Ratio (DER) on stock returns, with the exchange rate as a moderating variable, in retail sub-sector companies listed on the Indonesia Stock…
ck Exchange during the 2019–2023 period. This research employed a quantitative approach using secondary data obtained from annual financial reports and stock price data. The sampling technique used purposive sampling, resulting in 25 companies with 125 observations. Data analysis was conducted using multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that the Current Ratio has a negative and significant effect on stock returns, meaning that excessively high liquidity tends to reduce stock returns. Debt to Equity Ratio also has a negative and significant effect on stock returns, indicating that higher leverage increases financial risk and lowers investor confidence. Simultaneously, Current Ratio and Debt to Equity Ratio significantly affect stock returns. However, the exchange rate has no effect on stock returns. Furthermore, the exchange rate is unable to moderate the relationship between Current Ratio and stock returns, as well as between Debt to Equity Ratio and stock returns. These findings imply that internal company factors, particularly liquidity management and capital structure, are more dominant in influencing stock returns than external macroeconomic factors such as exchange rate fluctuations. Therefore, investors are advised to pay closer attention to financial fundamentals when making investment decisions in the retail sector.
Abstract:This study aims to analyze the effect of Current Ratio (CR) and Debt to Equity Ratio (DER) on Return on Assets (ROA) in energy sector companies listed on the Indonesia Stock Exchange during the period 2020–2024. The research…
search method employed is a quantitative approach with a causal associative design. The data used are secondary data obtained from companies’ financial statements, with a total sample of 110 observations. Data analysis was conducted using multiple linear regression with the assistance of SPSS version 26. The results show that partially, the Current Ratio (CR) has no significant effect on Return on Assets (ROA), with a significance value of 0.833. Meanwhile, the Debt to Equity Ratio (DER) has a negative and significant effect on Return on Assets (ROA), with a significance value of 0.000. Simultaneously, Current Ratio (CR) and Debt to Equity Ratio (DER) have a significant effect on Return on Assets (ROA), as indicated by an F-test significance value of 0.000. The coefficient of determination (Adjusted R Square) of 0.128 indicates that the independent variables explain 12.8% of the variation in ROA, while the remaining 87.2% is influenced by other factors outside the research model. This study concludes that capital structure plays a more dominant role in influencing profitability compared to liquidity in energy sector companies. Therefore, companies are expected to manage debt usage optimally to improve financial performance.
Abstract:This study aims to analyze the effects of liquidity, leverage, and BOPO on the profitability of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Profitability is proxied by…
by Return on Assets (ROA), liquidity by the Current Ratio (CR), leverage by the Debt to Equity Ratio (DER), and BOPO is measured by the ratio of Operating Expenses to Operating Income. This research employs a quantitative approach with an associative research design. The data used are secondary data in the form of companies’ annual financial statements obtained from the official IDX website, with the sampling technique using purposive sampling based on predetermined criteria. Data analysis was conducted using multiple linear regression with the assistance of statistical software. The results show that liquidity does not always have a positive effect on profitability, leverage tends to have a negative effect on profitability, and BOPO has a negative effect on profitability. Simultaneously, liquidity, leverage, and BOPO significantly affect the profitability of energy sector companies during the 2022–2024 period. These findings indicate that optimal liquidity management, proportional use of debt, and operational cost efficiency are key factors in improving the profitability performance of energy sector companies.
Abstract:The aim of the research is to determine the position of share prices in measuring debt. to Equity Ratio , return on equity and Earning Per Share . The data used are the financial reports of the Food and Beverage sub-sector…
or companies for the period 2020-2023. The findings of the research results show that DER and ROE partially have no effect on stock prices. Other findings show that stock prices can be influenced by the Earning Per Share variable .
Abstract:The phenomenon of increasing attention toward environmental and sustainability issues has driven companies to improve information transparency, moving beyond mere financial reports to include non-financial disclosures. One…
ne form of this transparency is realized through website-based sustainability reporting, which allows companies to convey sustainability information more openly and accessibly to stakeholders. On the other hand, capital structure decisions remain a fundamental factor that can potentially influence market perceptions of firm value, as they relate to the balance between internal and external funding in supporting operational continuity and growth strategies. This study aims to determine the influence of website-based sustainability reporting and capital structure on firm value through multiple linear regression analysis. Using a quantitative approach and secondary data obtained from annual reports and official company websites, the study focuses on issuers consistently listed in the IDX ESG Leaders index during the 2023–2024 period. The sample selection utilized purposive sampling, resulting in 20 companies with a total of 40 data observations. Firm value was measured using the Tobin’s Q ratio, the level of sustainability reporting disclosure was proxied through the Sustainability Report Disclosure Index (SRDI) based on GRI 2021 standards, and capital structure was measured by the Debt to Equity Ratio (DER). The partial results of the study show that website-based sustainability reporting has a positive coefficient but no significant effect on firm value. Similarly, capital structure shows a positive direction but is not statistically significant. Furthermore, the two variables simultaneously have no significant effect on the firm value of IDX ESG Leaders issuers. These findings indicate that although website-based sustainability disclosure and capital structure tend to have a direct relationship with firm value, the influence is not yet strong enough to significantly affect market valuation within a group of issuers that already meet sustainability criteria. Consequently, the firm value of IDX ESG Leaders issuers is not solely determined by the level of website-based sustainability disclosure or the company's capital structure.
Abstract:Improving Financial Literacy and Management Skills of Fisherman Groups Through Practical Accounting Education (Case Study: Seri Village, Ambon City) This community service program (PkM) aims to empower the fisherman groups…
oups in Seri Village, Ambon City, by enhancing their basic financial literacy and management skills using a practical accounting education approach. Weak financial management skills, especially in managing the fluctuating catch yields and income, are often the main obstacle to achieving economic stability and growth in the fisheries sector.
The implementation method utilized was participatory and application-based training and mentoring, tailored to the income and expenditure patterns of the fishing community. The program involved a series of workshops that simplified basic accounting concepts, such as transaction recording. The effectiveness of the program was measured by comparing the results of a pre-test and post-test to gauge the increase in knowledge, as well as through observation and questionnaires to assess changes in financial management behavior.
The results showed a significant increase in the understanding of financial management concepts among the Seri Village fishermen, evidenced by the improvement in the average post-test scores. Post-training mentoring also demonstrated positive changes in financial management practices, including the ability to set aside savings for boat/gear maintenance and the ability to control daily debt.
In conclusion, practical accounting education is an effective and crucial instrument in community empowerment programs, particularly for the fishing sector. This PkM successfully equipped the fishermen with practical tools to make better and more planned financial decisions, directly contributing to the improvement of economic independence and the well-being of the fishing families.
Abstract:This study aims to analyze the effect of company size, Debt to Equity Ratio (DER), and Return on Equity (ROE) on the Dividend Payout Ratio (DPR) of food and beverage manufacturing companies listed on the Indonesia Stock…
Exchange (IDX) during the period 2019-2024. This research adopts a quantitative approach with multiple linear regression analysis processed using SPSS. The sample of the study consists of 18 companies that meet the purposive sampling criteria. The results show that company size has a positive and significant effect on the Dividend Payout Ratio. However, Debt to Equity Ratio and Return on Equity do not have a significant effect on Dividend Payout Ratio, either partially or simultaneously. These findings suggest that other factors, beyond company size, play a more significant role in influencing dividend policies in the food and beverage manufacturing sector in Indonesia.
Abstract:This study aims to assess the financial performance of PT Global Teleshop Tbk for the period 2017–2021 based on liquidity, profitability, solvency, and activity ratio analysis. The research uses a descriptive qualitative…
ve method. The population consists of the financial statements of PT Global Teleshop Tbk, with the sample being the company's financial reports from the last five years (2017–2021). The data analysis uses financial ratios. The results show that: (1) The liquidity ratio analysis indicates good financial performance, as shown by the increasing Current Ratio (CR) and Quick Ratio (QR), demonstrating the company's improving ability to meet short-term liabilities with liquid current assets, although the QR still falls into the less optimal category; (2) The profitability ratio analysis indicates poor performance, with low Net Profit Margin (NPM) and Return on Equity (ROE), showing the company's limited ability to generate profits from shareholders' funds; (3) The solvency ratio analysis shows weak financial performance, with Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) indicating the company’s inability to cover total liabilities with its assets; (4) The activity ratio analysis, based on Total Asset Turnover (TATO) and Working Capital Turnover (WCT), also suggests poor performance due to declining asset turnover and ineffective management of working capital.
Abstract:This study aims to analyze the impact of liquidity ratios on the corporate value of banking companies with the role of capital structure as a moderating variable. The data used in this study are secondary data obtained from…
rom the annual financial reports of Bank Syariah Indonesia listed on the Indonesia Stock Exchange (IDX) during the period 2021–2023. The method used is multiple regression analysis with a model that includes the interaction between liquidity ratios (Current Ratio) and capital structure (Debt to Equity Ratio) as a moderating variable on corporate value, measured by Price to Book Value (PBV). The results of the study show that liquidity ratios have a positive and significant impact on corporate value, while capital structure has a negative impact on corporate value. In addition, the interaction test shows that capital structure acts as a moderating variable that reduces the positive impact of liquidity ratios on corporate value. These findings indicate that although a high liquidity ratio can increase corporate value, this effect may be diminished if the bank has a capital structure more dominated by debt. This study provides important implications for bank management in balancing liquidity and capital structure to maximize corporate value.