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All Journal Ascendia: Journal of Economic and Business Advancement Journal of Economic Studies
Leonard Caprio Sibarani
Universitas Kristen Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Pengaruh Pertumbuhan Aset, Kepatuhan Pajak, Struktur Modal dan Kualitas Audit terhadap Nilai Perusahaan Amelia Lestari Sinaga; Frans Niko Adrian Manurung; Leonard Caprio Sibarani; Melinda Malau
Journal of Economic Studies Vol. 1 No. 4 (2026)
Publisher : Riset Anak Bangsa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.66618/k1frsb18

Abstract

Nilai Perusahaan mencerminkan persepsi pasar terhadap kinerja keuangan yang tercermin melalui harga saham. Penelitian ini bertujuan untuk menganalisis pengaruh pertumbuhan aset, kepatuhan pajak, struktur modal, dan kualitas audit terhadap nilai perusahaan pada sektor energi yang terdaftar di Bursa Efek Indonesia periode 2022–2024. Dengan purposive sampling, terpilih 71 perusahaan sebagai sampel dengan total 213 observasi selama tiga tahun pengamatan. Analisis data dilakukan dengan menggunakan model analisis regresi linier berganda untuk menguji pengaruh variabel secara parsial dan simultan. Hasil penelitian menunjukkan bahwa secara parsial, pertumbuhan aset dan kepatuhan pajak tidak berpengaruh signifikan terhadap nilai perusahaan. Sebaliknya, struktur modal dan kualitas audit terbukti memiliki dampak positif dan signifikan terhadap nilai perusahaan. Secara simultan, seluruh variabel independen berpengaruh signifikan dalam menentukan nilai perusahaan sektor energi. Hasil ini mengindikasikan bahwa investor sektor energi lebih cenderung merespons kebijakan pendanaan dan kredibilitas laporan keuangan eksternal dibandingkan ekspansi aset maupun kepatuhan perpajakan dalam menilai prospek perusahaan.
Determinants of Going Concern Opinion: The Moderating Role of Managerial Ownership in Basic Materials Sector Companies Leonard Caprio Sibarani; Nera Marinda Machdar; Faradiba Faradiba
Journal of Economic and Business Advancement Vol. 2 No. 1 (2026): : September: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/29tc9m36

Abstract

This study aims to examine the determinants of going concern opinion by analyzing the effects of operating cash flow, financial distress, and sustainability report disclosure, while investigating the moderating role of managerial ownership. This research employs a quantitative approach using logistic regression and moderated regression analysis, with data processing conducted through STATA 15. The sample consists of 74 basic materials sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period, resulting in 370 firm-year observations. The findings indicate that operating cash flow and financial distress have significant negative effects on going concern opinion, while sustainability report disclosure has a negative but insignificant effect. Managerial ownership does not moderate the relationship between operating cash flow or financial distress and going concern opinion, but significantly moderates the relationship between sustainability report disclosure and going concern opinion. These findings highlight that auditors continue to emphasize financial indicators in evaluating business continuity, while ownership structure influences the credibility of sustainability-related information. The study provides practical implications for corporate managers in improving financial resilience and strengthening disclosure quality to support stakeholder confidence. This study contributes to agency theory and signaling theory by providing empirical evidence on how financial conditions and governance mechanisms shape going concern assessments in emerging markets.
Co-Authors Amelia Lestari Sinaga Faradiba Faradiba Frans Niko Adrian Manurung Melinda Malau Nera Marinda Machdar