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All Journal Ekalaya : Jurnal Ekonomi Akuntansi
Syaiful Bahri
Universitas Islam Majapahit, Indonesia
Economics, Econometrics & Finance

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Pengaruh TATO, ROA, DER, dan Firm Size Terhadap Return Saham Miranti Tri Lestari; Syaiful Bahri; M. Bahril Ilmiddaviq
EKALAYA : Jurnal Ekonomi Akuntansi Vol. 3 No. 2 (2025): Ekalaya : Jurnal Ekonomi Akuntansi
Publisher : CV. Kalimasada Group

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59966/ekalaya.v3i2.2048

Abstract

This study analyzes the effect of TATO, ROA, DER, and company size on stock returns of textile and garment subsector manufacturing companies listed on the IDX for the 2021-2024 period.  This research method uses a quantitative approach with a causal association design using secondary data from the financial statements of 15 companies for four years analyzed through multiple linear regression. The results showed that DER has a negative effect on stock returns, while TATO, ROA, and company size have no effect. The findings confirm capital structure, especially high leverage, adversely affects investment returns, while asset efficiency and firm size do not directly affect stock returns in industries sensitive to global conditions. The study suggests that investors should be cautious in interpreting financial signals and pay attention to capital structure factors in making investment decisions.
Pengaruh Kemahalan Harga, Return, Eps, dan Likuiditas Perdagangan Saham terhadap Keputusan Stock split Winsa Septi Anggreini; Hari Setiono; Syaiful Bahri
EKALAYA : Jurnal Ekonomi Akuntansi Vol. 3 No. 2 (2025): Ekalaya : Jurnal Ekonomi Akuntansi
Publisher : CV. Kalimasada Group

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59966/ekalaya.v3i2.2049

Abstract

A stock split represents a strategic corporate action undertaken to realign share prices to more accessible levels, thereby enhancing their attractiveness to potential investors. This study examines the impact of stock price volatility, stock returns, earning s per share, and trading liquidity on the decision to execute a stock split. Employing a quantitative research design, the analysis utilizes logistic regression techniques. The empirical sample consists of eight financial sector firms listed on the Indonesia Stock Exchange that implemented stock splits between 2020 and 2024. The results indicate that both stock returns and earning s per share exert a statistically significant positive influence on stock split decisions. This implies that firms demonstrating higher returns and greater earnings per share are more inclined to pursue stock splits. In contrast, neither stock price volatility nor trading liquidity shows a significant association with such decisions. These findings suggest that stock split initiatives are predominantly driven by a firm’s financial performance rather than market perceptions of share prices or trading activity levels.
Pengaruh Current Ratio, Debt To Equity Ratio, Gross Profit Margin, Total Assets Turnover Terhadap Pertumbuhan Laba Yang Dimoderasi Ukuran Perusahaan Firli Dwi Lianingsih; Nur Ainiyah; Syaiful Bahri
EKALAYA : Jurnal Ekonomi Akuntansi Vol. 3 No. 3 (2025): Ekalaya : Jurnal Ekonomi Akuntansi
Publisher : CV. Kalimasada Group

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59966/ekalaya.v3i3.2057

Abstract

This study examines the impact of financial ratios on earnings growth in insurance companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024, considering company size as a moderator variable. This study analyzes four key ratios-Current Ratio (CR), Debt to Equity Ratio (DER), Gross Profit Margin (GPM), and Total Asset Turnover (TATO)-to evaluate their impact on earnings growth through the perspective of signal theory. Using quantitative methods, purposive sampling was used to select twelve insurance companies that consistently generated profits, resulting in sixty firm-year observations. Data were obtained from annual reports available on the official IDX website and analyzed through multiple linear regression and Moderate Regression Analysis (MRA). The results show that TATO has a large impact on earnings growth, but CR, DER, and GPM do not have a large impact. In addition, firm size strengthens the correlation between DER and TATO with earnings growth, while reducing the relationship between CR and earnings growth; firm size has no moderating effect on GPM. These results show how important asset efficiency is in generating profits in the insurance industry and that firm size has a major influence on its performance.
Pengaruh Ukuran Perusahaan, Likuiditas, Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi Silvya Reza Novita Sari; Syaiful Bahri; Nurdiana Fitriani
EKALAYA : Jurnal Ekonomi Akuntansi Vol. 3 No. 3 (2025): Ekalaya : Jurnal Ekonomi Akuntansi
Publisher : CV. Kalimasada Group

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59966/ekalaya.v3i3.2059

Abstract

This study examines the effect of firm size, liquidity, and capital structure on firm value, by including dividend policy as a moderator variable. This study focuses on food and beverage companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024, given the sector's significant impact on the national economy and the varied dynamics of firm value. A quantitative approach is used using secondary data obtained from annual financial reports. Firm size is measured by the natural logarithm of total assets, liquidity by current ratio, capital structure by debt-to-equity ratio, dividend policy by dividend payout ratio, and firm value by price-to-book value ratio. The analysis uses multiple linear regression and moderated regression analysis (MRA) using SPSS. The findings show that firm size has a significant positive effect on firm value, while liquidity and capital structure have no significant effect. In addition, dividend policy does not affect the correlation between firm size, liquidity, or capital structure with firm value, suggesting that investors may prioritize other fundamental factors beyond dividend distribution. These results support signaling theory and have a real impact on the way managers and investors make decisions regarding corporate finance.
Pengaruh Rasio Likuiditas, Struktur Modal, dan Good Corporate Governance terhadap Profitabilitas Maya Permata Sari; Syaiful Bahri; Nurdiana Fitri Isnaini
EKALAYA : Jurnal Ekonomi Akuntansi Vol. 3 No. 4 (2025): Ekalaya : Jurnal Ekonomi Akuntansi
Publisher : CV. Kalimasada Group

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59966/ekalaya.v3i4.2060

Abstract

This study analyzes the impact of liquidity, capital structure, and good corporate governance (GCG) on profitability (return on assets) in food and beverage companies listed on the Indonesia Stock Exchange for the 2020-2024 period. This study aims to provide an empirical overview of internal company factors that influence the financial performance of the food and beverage sector in Indonesia. This research plays a significant role because this sector is one of the strategic areas that demonstrates good resilience to the economy. Therefore, it is hoped that the results of this study can contribute to management in making financial and management decisions. Furthermore, this study aims to develop the literature that examines the impact of good corporate governance on profitability, focusing on the variables of the board of directors, the board of commissioners, and the audit committee as benchmarks for GCG. The sample consisted of 22 companies covering 110 observations. The method applied in this analysis was multiple linear regression. The results of the study indicate that liquidity does not significantly affect ROA, while capital structure and board direction have a significant influence. However, the board of commissioners and the audit committee do not significantly contribute to profitability
Co-Authors Firli Dwi Lianingsih Hari Setiono M. Bahril Ilmiddaviq Maya Permata Sari Miranti Tri Lestari Nur Ainiyah Nurdiana Fitri Isnaini Nurdiana Fitriani Silvya Reza Novita Sari Winsa Septi Anggreini