Made Ratih Nurmalasari
Universitas Pendidikan Nasional, Denpasar, Indonesia

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Peran Profitabilitas pada Pengaruh Struktur Modal terhadap Nilai Perusahaan Sektor Teknologi Made Ratih Nurmalasari; Putu Diah Kumalasari; Putu Lyra Windyana Putri
Studi Ilmu Manajemen dan Organisasi Vol 6 No 3 (2025): Oktober
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/simo.v6i3.4113

Abstract

Purpose: This study is designed to analyze the impact of capital structure on firm value in the technology sector and the moderating role of profitability in this relationship. Methodology: A quantitative methodology is utilized in this research. The population in this study consists of all financial statements from technology companies during the period of 2021-2023. The sample in this study consists of 11 companies, with the sample being chosen using a purposeful sampling technique. The data analysis techniques utilized are multiple regression and Moderate Regression Analysis (MRA). Results: (1) Firm value is not impacted by capital structure, and (2) Profitability can strengthen the effect of capital structure on firm value. Conclusions: Capital structure does not have a significant effect on firm value in technology sector companies listed on the IDX during 2021–2023. However, profitability is proven to strengthen the influence of capital structure on firm value. Limitations: A limitation of this study is that it only examines a specific period, which may not fully capture the long-term effects of capital structure and profitability on firm value, especially in a rapidly changing industry like technology. The findings may be influenced by short-term market conditions and may not be applicable to different economic cycles or future trends. Contribution: This study provides valuable insights into the intricate relationship between capital structure, profitability, and firm value, particularly in the rapidly growing technology sector.
Cryptocurrency Adoption and Financial Literacy among Indonesian Users Rafael Winata Willy Suwanto; Made Ratih Nurmalasari
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 6 (2026): Volume 4, Issue 6, November 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i6.2232

Abstract

Purpose – This study examines the relationship between Cryptocurrency Investment Adoption and Financial Literacy, with User Trust and User Satisfaction as mediating variables among Indonesian cryptocurrency users. The study focuses on how cryptocurrency investment involvement may be associated with users’ financial understanding and how trust and satisfaction contribute to this relationship. Design/methodology/approach – This study adopts a quantitative approach using a cross-sectional survey design. Data were collected from 100 Indonesian cryptocurrency users selected through purposive sampling. The questionnaire consisted of 20 indicators measuring Cryptocurrency Investment Adoption, User Trust, User Satisfaction, and Financial Literacy using a four-point Likert scale. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. Hypotheses were tested using bootstrapping with 5,000 resamples. Findings/Results – The results show that Cryptocurrency Investment Adoption has a positive and significant effect on Financial Literacy (β = 0.347; p < 0.001), User Trust (β = 0.600; p < 0.001), and User Satisfaction (β = 0.631; p < 0.001). User Trust significantly affects Financial Literacy (β = 0.288; p = 0.013) and significantly mediates the relationship between Cryptocurrency Investment Adoption and Financial Literacy (β = 0.173; p = 0.023). However, User Satisfaction does not significantly affect Financial Literacy (β = 0.129; p = 0.305) or mediate the relationship (β = 0.081; p = 0.319). Originality/Value – This study highlights User Trust as a significant mechanism linking cryptocurrency investment adoption with financial literacy, while User Satisfaction does not provide a significant pathway.