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Pengaruh Firm Age, Underwriter Reputation, Return On Equity, Leverage, Dan Earning Per Share Terhadap Underpricing Saham Pada Sektor Consumer Non Cyclicals Di Bursa Efek Indonesia Sevi Triani; Heru Cahyo, Dian S.P. Koesoemasari
YUME : Journal of Management Vol 9, No 1 (2026)
Publisher : Pascasarjana STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/yume.v9i1.11297

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Firm Age, Underwriter Reputation, Return On Equity (ROE), Leverage, And Earnings Per Share (EPS) terhadap Underpricing Saham IPO pada perusahaan sektor consumer non cyclicals yang terdaftar di Bursa Efek Indonesia. Penelitian menggunakan 43 perusahaan sebagai sampel dengan periode pengamatan 2020–2024 yang ditentukan melalui metode purposive sampling. Analisis regresi linier berganda digunakan untuk menguji pengaruh variabel independen terhadap underpricing saham IPO. Hasil empiris menunjukkan bahwa umur perusahaan berpengaruh positif dan signifikan terhadap underpricing Saham. Reputasi underwriter dan ROE berpengaruh negatif dan signifikan, yang mengindikasikan bahwa reputasi underwriter yang lebih tinggi dan profitabilitas yang lebih baik berkaitan dengan tingkat underpricing yang lebih rendah. Sebaliknya, leverage dan EPS tidak berpengaruh signifikan terhadap underpricing IPO. Temuan ini menegaskan pentingnya karakteristik spesifik perusahaan dan kualitas underwriter dalam menentukan hasil penetapan harga IPO pada sektor consumer non cyclicals di Indonesia.Kata Kunci: Underpricing; Underwriter;Fundamental Perusahaan
Digital Smart Marketing: Membangun UMKM Tangguh di Era Ekonomi Digital 5.0 Enrico Aziezy; Heru Cahyo; Wisnu Wijayanto; Zhika Vilanti; Florenkias Nikosal
Madani : Indonesian Journal of Civil Society Vol. 8 No. 1 (2026): Madani : Februari 2026
Publisher : Politeknik Negeri Cilacap

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35970/madani.v8i1.3055

Abstract

 Micro, Small, and Medium Enterprises (MSMEs) play a vital role in strengthening the local economy of Sunyalangu Village, Karanglewas District, Banyumas Regency. However, most MSMEs still face limitations in utilizing digital technology, particularly in marketing, business administration, and transaction management. This community service activity, titled "Building Resilient MSMEs in the Digital Economy 5.0 Era," aims to improve  digital literacy and technology-based business management skills among MSMEs. This program was implemented using a gradual training, mentoring, and counseling approach from October to November 2025. A total of 30 MSMEs participated in the activities, which included digital literacy counseling, digital marketing training through social media and marketplaces, and assistance in creating online store accounts and digital-based administration systems. The results of the activity showed that most participants successfully established active marketplace accounts and began implementing online marketing strategies, which have resulted in an expanded market reach and increased business operational efficiency. However, limited internet infrastructure and the availability of digital devices remain obstacles to optimizing technology utilization. Overall, this activity has had a positive impact on changing the business behavior of MSMEs and strengthening their business independence and resilience in the face of the digital economy's development. 
The Effect of Capital Structure, Leverage, and Firm Size on Financial Performance of Basic Materials Sector Companies Listed on the Indonesia Stock Exchange Yuliasih Triska Sugiarti; Heru Cahyo; Endang Sri Wahyuningsih
Journal of Multidisciplinary Science: MIKAILALSYS Vol 4 No 2 (2026): Journal of Multidisciplinary Science: MIKAILALSYS
Publisher : Darul Yasin Al Sys

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58578/mikailalsys.v4i2.10797

Abstract

Financial performance is a critical indicator of a company’s ability to manage resources effectively and achieve sustainable business objectives. In the basic materials sector, companies face challenges related to commodity price fluctuations, economic uncertainty, and post-pandemic pressures that may affect their financial performance. This study aimed to examine the effects of capital structure, leverage, and firm size on the financial performance of basic materials companies listed on the Indonesia Stock Exchange during the 2019–2024 period. A quantitative approach was employed using secondary data obtained from companies’ annual financial statements. The sample consisted of 24 companies selected through purposive sampling. Data were analyzed using panel data regression with the Fixed Effect Model (FEM). The findings reveal that capital structure, measured by the Debt to Equity Ratio (DER), has a negative and significant effect on financial performance. Leverage, measured by the Debt to Assets Ratio (DAR), has a positive and significant effect on financial performance, whereas firm size does not have a significant effect. The study concludes that financing structure and debt management are more decisive in shaping financial performance than organizational scale. These findings contribute to corporate finance literature by providing sector-specific evidence on the determinants of financial performance in Indonesia’s basic materials sector. Practically, the study implies that companies should formulate optimal financing policies and allocate debt productively to enhance profitability and support long-term business sustainability.