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All Journal VARIANSI: Journal of Statistics and Its Application on Teaching and Research ARRUS Jurnal Pengabdian Kepada Masyarakat Jurnal Riset Mahasiswa Akuntansi
Muhammad Raihan Mubaraq
Universitas Negeri Makassar
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Mathematics Public Health Social Sciences Other

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Robust Standard Error Panel Regression of Firm Size, Leverage, Profitability on Firm Value: Indonesian Mining 2022–2024 Muh Qodri Alfairus; Muhammad Raihan Mubaraq; Alia Rezki Amalia
VARIANSI: Journal of Statistics and Its application on Teaching and Research Vol. 8 No. 1 (2026)
Publisher : Program Studi Statistika Fakultas MIPA UNM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35580/variansiunm515

Abstract

Corporate financial information such as firm size, leverage, and profitability sends signals to the market that are reflected in firm value. However, previous studies have yielded inconsistent results, likely due to differences in estimation methods and the disregard of violations of classical assumptions in panel data. This study aims to analyze the effects of firm size (Size), leverage (DER), and profitability (ROA) on firm value (PBV) by applying panel data regression with robust standard error correction. Data were collected from 21 mining sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period, yielding 63 observations. The model selected based on the Chow Test (p=1.46E-09) and the Hausman Test (p=0.002) is the Fixed Effects Model (FEM). The results of the classical assumption tests indicate violations of heteroscedasticity (p=0.029) and autocorrelation (p=0.005), so the estimation was continued using cluster-robust standard errors (clustering by time). After adjusting for the model, it was found that all three variables simultaneously had a significant effect on firm value (F-statistic, p = 0.0538). Partially, firm size had a significant negative effect (coefficient -0.481; p=0.038), leverage had a significant positive effect (coefficient 0.672; p=0.018), and profitability had a marginally significant negative effect (coefficient -0.796; p=0.092). An R-squared value of 17.6% indicates that there are still other factors outside the model that influence firm value. The conclusion of this study confirms that in the context of the Indonesian mining sector in the post-pandemic period, the market responds negatively to companies with large assets and high profitability, but responds positively to increased debt. These findings imply that investors should not focus solely on short-term profitability, and that company management should determine the optimal capital structure to increase firm value.
Aset Tak Berwujud Dalam Nilai Yang Nyata: Peran Intellectual Capital Terhadap Nilai Perusahaan Muhammad Raihan Mubaraq; Hamidah Muslimah
Jurnal Riset Mahasiswa Akuntansi Vol. 6 No. 1 (2026): Jurnal Riset Mahasiswa Akuntansi, Maret 2026
Publisher : Fakultas Ekonomi dan Bisnis Unram

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Abstract

This study aims to analyze the effect of intellectual capital on firm value in food and beverage sub-sector companies listed on the Indonesia Stock Exchange. This research uses a quantitative approach with a causal research design. The population in this study consists of all food and beverage sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The research sample was determined using the purposive sampling technique based on specific criteria to 100 observes obtain companies that align with the research. The data used in this study are secondary data obtained from companies’ financial statements. The data analysis method employed is Partial Least Square (PLS) with the assistance of SmartPLS 4 software. The stages of analysis include descriptive statistics, outer model analysis, inner model analysis, and hypothesis testing. The results show that intellectual capital has a positive and significant effect on firm value. This finding indicates that companies with better management of intellectual capital tend to have higher firm value, as reflected in increased investor confidence in the company’s future prospects.
Sosialisasi Standar Pengungkapan Keberlanjutan (SPK) di Kantor Akuntan Publik Ardaniah Abbas Alia Rezki Amalia; Nur Abshari Abbas; Aisyah Zarkasi; Irene Ipal Parinding; Muhammad Raihan Mubaraq
ARRUS Jurnal Pengabdian Kepada Masyarakat Vol. 4 No. 2 (2025)
Publisher : PT ARRUS Intelektual Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.abdiku4457

Abstract

Kegiatan Pengabdian kepada Masyarakat melalui Sosialisasi Standar Pengungkapan Keberlanjutan (SPK), bertujuan untuk memberikan pemahaman dasar mengenai urgensi pengungkapan aspek-aspek keberlanjutan dalam laporan keuangan. Pengungkapan berkelanjutan yang diatur dalam Standar Pengungkapan Berkelanjutan (SPK) dicanangkan akan efektif pada 1 Januari 2027 mendatang, menjadikan pengungkapan aspek-aspek non keuangan bersifat mandatory. Oleh karena itu kegiatan ini dilaksanakan untuk menjembatani aliran informasi kepada pihak profesional. Kegiatan dilaksanakan dengan sosialisasi dan diskusi interaktif di Kantor Akuntan Publik (KAP) Ardaniah Abbas. Hasil kegiatan merupakan penguatan pengetahuan konseptual dan praktis terkait PSPK 1 tentang Persyaratan Umum Pengungkapan Keberlanjutan dan PSPK 2 tentang Pengungkapan Terkait Iklim. Kegiatan ini juga memberikan rekomendasi berupa penyusunan panduan dan matriks pengukuran pengungkapan sesuai dengan karakteristik klien KAP Ardaniah Abbas untuk mengembangkan prosedur audit yang lebih komprehensif khusus untuk menilai pengungkapan keberlanjutan perusahaan.
Optimalisasi Profitabilitas UMKM Melalui Implementasi Activity Based Costing (ABC) dan Identifikasi Aktivitas Bernilai Tambah Ilyona Risty Randan; Aisyah Zarkasi; Irene Ipal Parinding; Nur Abshari Abbas; Muhammad Raihan Mubaraq
ARRUS Jurnal Pengabdian Kepada Masyarakat Vol. 5 No. 1 (2026)
Publisher : PT ARRUS Intelektual Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.abdiku4886

Abstract

UMKM laundry menghadapi tantangan dalam menentukan harga pokok produksi yang akurat karena metode tradisional cenderung mendistorsi biaya, terutama ketika perusahaan menawarkan beragam jenis layanan. Pengabdian kepada masyarakat ini bertujuan untuk mengimplementasikan metode Activity Based Costing (ABC) dan mengidentifikasi aktivitas bernilai tambah guna mengoptimalkan profitabilitas UMKM khususnya jasa Laundry. Melalui analisis data produksi, hasil menunjukkan bahwa metode tradisional menyebabkan undercosting pada layanan Cuci Komplit (20,1%) dan overcosting pada Cuci Kering Lipat (12,6%) serta Setrika Saja (38,9%). Penerapan ABC berhasil mengungkap biaya riil per kilogram: Cuci Komplit Rp3.684, Cuci Kering Lipat Rp2.679, dan Setrika Saja Rp1.875. Selain itu, teridentifikasi bahwa aktivitas mekanisasi (cuci dan pengering) menyerap biaya overhead tertinggi (Rp1.723.934 atau 65,8% dari total overhead), sehingga menjadi target utama efisiensi. Kegiatan PKM ini merekomendasikan penyesuaian harga jual berbasis ABC dan optimalisasi aktivitas mekanisasi untuk meningkatkan profitabilitas hingga 38% pada layanan tertentu.
Digital Financial Literacy Education For Coffee Shop Businesses to Support MSME Sustainability Nadya Annisa Nasruddin; Rahayu Alkam; Muhammad Raihan Mubaraq; Nurul Emil Safitri; Faizah Khaeruddin
ARRUS Jurnal Pengabdian Kepada Masyarakat Vol. 5 No. 1 (2026)
Publisher : PT ARRUS Intelektual Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.abdiku4897

Abstract

This community service program aimed to improve the digital financial literacy of the managers of By Bar Coffee, an MSME operating in the food and beverage (F&B) sector in Makassar City. Although the business had already adopted digital payment systems such as QRIS, the partner still faced limitations in understanding transaction security, internal controls, and digital risk mitigation. The program was expected to enhance the managers’ ability to manage digital transactions in a secure and effective manner. The program was conducted on April 15, 2026, at By Bar Coffee, Makassar, involving managers and employees responsible for financial transaction management. The methods employed included interviews to identify the partner’s needs, interactive educational sessions, demonstrations of digital transaction security practices, and mentoring through discussions and consultations. Prior to the program, participants’ understanding was largely limited to the operational use of payment applications without adequate awareness of the security risks associated with digital transactions. Following the educational sessions and mentoring activities, participants gained a better understanding of digital transaction risks, the importance of payment verification, financial data protection, and transaction security measures. Participants’ enthusiasm was reflected in their active engagement during discussions and question-and-answer sessions. The program enhanced the awareness and capability of the business managers in implementing safer and more accountable digital transaction practices. Improved digital financial literacy is expected to support operational efficiency, strengthen customer trust, and contribute to the long-term sustainability of MSMEs in the digital era.
Co-Authors Aisyah Zarkasi Alia Rezki Amalia Faizah Khaeruddin Hamidah Muslimah Ilyona Risty Randan Irene Ipal Parinding Muh Qodri Alfairus Nadya Annisa Nasruddin Nur Abshari Abbas Nurul Emil Safitri Rahayu Alkam