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All Journal Riset Akuntansi dan Portofolio Investasi Manajemen Bisnis dan Keuangan Korporat Riset Akuntansi dan Manajemen Pragmatis
Steven J. Tangkuman
Sam Ratulangi University
Economics, Econometrics & Finance Social Sciences

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Pengaruh pengungkapan corporate social responsibility dan financial leverage terhadap cost of equity capital pada perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia pada tahun 2021-2024 Dheana Revalina Tewu; Herman Karamoy; Steven J. Tangkuman
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 2 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.475

Abstract

This study aims to analyze the effect of Corporate Social Responsibility (CSR) disclosure and financial leverage on the Cost of Equity Capital (CEC) in mining companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period, using Signaling Theory as its theoretical framework. This study employs a quantitative approach using an associative method and purposive sampling, resulting in a sample of 16 companies with a total of 64 observations during the study period. The data used are secondary data obtained from the companies’ annual reports and sustainability reports. The CSR disclosure variable was measured using the Corporate Social Responsibility Disclosure Index (CSRDI) based on the 2021 Global Reporting Initiative (GRI) standards; financial leverage was measured using the Debt-to-Equity Ratio (DER); and CEC was measured using the Ohlson Model. Data analysis was conducted using multiple linear regression with the assistance of SPSS version 27. The results indicate that CSR disclosure does not have a significant effect on CEC, whereas financial leverage has a positive and significant effect on CEC. An Adjusted R-Square value of 0.066 indicates that these two independent variables account for only 6.6% of the variation in CEC, while the remaining 93.4% is explained by other factors outside the research model. Thus, it can be concluded that financial leverage is proven to be one of the factors influencing CEC, whereas CSR disclosure has not been shown to have a significant effect on CEC among mining companies listed on the IDX during the 2021–2024 period.
Pengaruh financial technology terhadap kinerja profitabilitas perusahaan otomotif yang terdaftar di Bursa Efek Indonesia periode 2021-2023 Putri Astri Babaubun; Lintje Kalangi; Steven J. Tangkuman
Riset Akuntansi dan Manajemen Pragmatis Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.431

Abstract

This study aims to examine the effect of Financial Technology (FinTech) adoption on the profitability of automotive companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. FinTech adoption is measured using the FinTech Adoption Index (FAI) derived from annual reports and official publications, while profitability is proxied by Return on Assets (ROA). This research employs a quantitative approach with purposive sampling, resulting in 11 companies and 33 observations. Data are analyzed using simple linear regression with IBM SPSS 26. The results indicate that FinTech has a positive and significant effect on profitability, with a regression coefficient of 0.060 and a significance value of 0.023 (p < 0.05). This finding suggests that higher FinTech adoption enhances firms’ efficiency in utilizing assets, thereby improving profitability. However, the coefficient of determination (R²) of 0.156 implies that FinTech explains only 15.6% of the variation in profitability, indicating the presence of other influencing factors. These findings support Signaling Theory and Agency Theory, highlighting that FinTech adoption serves as a positive signal to stakeholders while reducing information asymmetry and agency costs. This study contributes to the limited literature on FinTech in the automotive sector and provides practical implications for firms in optimizing digital transformation strategies to enhance financial performance.
Pengaruh loan to deposit ratio (LDR), dan return on equity (ROE) terhadap harga saham pada perusahaan sektor perbankan yang terdaftar di Bursa Efek Indonesia tahun 2022-2024 Regita Frizchila Inggo; Sonny Pangerapan; Steven J. Tangkuman
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.432

Abstract

Stock prices reflect firm value and serve as a key reference for investors’ decision-making in the capital market. This study examines the effect of the Loan to Deposit Ratio (LDR) and Return on Equity (ROE) on the stock prices of banking companies listed on the Indonesia Stock Exchange during the 2022–2024 period. Using a quantitative approach, the study applies purposive sampling to obtain 41 banking firms, resulting in 123 firm-year observations. Multiple linear regression analysis is employed using IBM SPSS 27. The results indicate that LDR has a positive and statistically significant effect on stock prices, suggesting that banks’ effectiveness in channeling third-party funds into credit acts as a positive signal to investors regarding liquidity management and income generation. Likewise, ROE shows a positive and significant influence on stock prices, indicating that higher profitability enhances investor confidence in management’s ability to generate returns from shareholders’ equity. These findings support signaling theory, which posits that financial performance indicators convey important information to the market and influence investor behavior. The study implies that liquidity and profitability ratios are fundamental considerations for investors in valuing banking stocks and for bank management in maintaining market credibility.
Pengaruh Profitabilitas, Kebijakan Dividen, dan Struktur Modal terhadap Nilai Perusahaan (Studi pada Perusahaan Sub Sektor Perbankan yang Terdaftar di Bursa Efek Indonesia Periode 2021-2024) Vanessa Meisyang Tatuil; David P. E. Saerang; Steven J. Tangkuman
Riset Akuntansi dan Portofolio Investasi Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/rapi.457

Abstract

This study examines the effect of probability, dividend policy, and capital structure on firm value in banking subsector companies listed on the Indonesia Stock Exchange (IDX) during 2021-2024. The research is grounded in Signaling Theory and the Efficient Market Hypothesis, explaining how financial performance interpreted by investors and reflected stock prices. A quantitative approach is employed using secondary data, collected through documentation of published financial statements and market data from the IDX. Samples were selected using purposive sampling, resulting in 17 firms. Variables were measured using ROA (profitability), DPR (dividend policy), DER (capital structure), and PBV (firm value). Data were analyzed using multiple linear regression (SPSS) along with classical assumption tests. The findings indicate that profitability (ROA) has a positive and significant effect on firm value, while dividend policy (DPR) has a negative but insignificant effect, and capital structure (DER) shows a positive and significant effect. Simultaneously, the three independent variables have a significant influence on firm value, with the model explaining 51,2% of the variance. In conclusion, profitability is the most dominant factor in enhancing the firm value of banking companies during the study period.
Co-Authors David P. E. Saerang Dheana Revalina Tewu Herman Karamoy Lintje Kalangi Putri Astri Babaubun Regita Frizchila Inggo Sonny Pangerapan Vanessa Meisyang Tatuil