Article Per Year (5 Year)
p-Index From 2021 - 2026
0.835
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This Author published in this journals
All Journal Journal of Governance, Taxation, and Auditing
Imronudin
Muhammadiyah University of Surakarta, Indonesia
Economics, Econometrics & Finance

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The Effect of Firm Size, Liquidity Ratio, and Leverage on The Profitability of The Financial Sector In Indonesia in The 2024 Period Sheila Rizqya Listy; Imronudin
Journal of Governance, Taxation and Auditing Vol. 4 No. 3 (2026): Journal of Governance, Taxation and Auditing (January - March 2026)
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jogta.v4i3.1725

Abstract

The financial sector is one of the main foundations supporting the stability and growth of the Indonesian economy. This sector's role is increasingly crucial as the complexity of business activities and the need for flexible funding increase. Profitability serves as a fundamental benchmark for evaluating the stability and operational success of firms within the financial industry. This research examines how variations in Firm Size, Liquidity Ratio, and Leverage contribute to shaping the profitability performance of financial institutions in Indonesia throughout 2024. Profitability is assessed using two principal indicators—Return on Assets (ROA) and Net Profit Margin (NPM)—which illustrate the degree to which firms can efficiently utilize their assets and convert revenue streams into net income. Employing a quantitative design, the study relies on secondary data derived from the 2024 annual financial statements of 97 financial-sector entities listed on the Indonesia Stock Exchange (IDX). The analysis utilizes a multiple linear regression framework, supported by a full range of classical assumption tests, to evaluate the interactions among the variables. The results indicate that Firm Size has a statistically significant effect on ROA, while its influence on NPM is not found to be significant. The Liquidity Ratio does not affect either profitability indicator. Leverage does not affect ROA, but significantly influences NPM. Simultaneously, all three independent variables significantly influence profitability in both the ROA and NPM models. These outcomes carry notable implications for both financial decision-makers and market participants: company size and debt-based financing structure can impact profitability differently depending on the indicators used. 
The Effect of Digital Technology and Corporate Social Responsibility (CSR) on the Financial Performance of Manufacturing Companies with Financial Flexibility Moderation Nada An Nur Ula; Imronudin
Journal of Governance, Taxation and Auditing Vol. 4 No. 3 (2026): Journal of Governance, Taxation and Auditing (January - March 2026)
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jogta.v4i3.1727

Abstract

The development of digital technology is now an integral part of modern business strategies and is driving transformation in the manufacturing sector. Companies are increasingly expected to engage in continuous Corporate Social Responsibility (CSR) initiatives as part of maintaining constructive interactions with their stakeholders. This research investigates how digital technology adoption and CSR practices influence financial performance, while also assessing whether financial flexibility moderates these relationships, using a sample of manufacturing firms listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023. The study employs a quantitative associative design with purposive selection, resulting in 125 observed firms. Data were processed using Moderated Regression Analysis (MRA) with Eviews 13. The findings reveal that digital technology does not exert a meaningful or positive contribution to financial outcomes, as its effect is negative and statistically insignificant. In contrast, CSR activities demonstrate a significant positive association with financial performance. Financial flexibility itself is shown to negatively and significantly affect financial performance. Moreover, financial flexibility fails to enhance the influence of digital technology on financial performance but does amplify the impact of CSR. Overall, the evidence indicates that CSR initiatives, when supported by robust financial flexibility, can serve as a strategic asset that elevates organizational performance and strengthens competitive positioning.
Analysis of Financial Performance of Industrial Sector Companies Through Liquidity, Leverage and Efficiency Ratios Yudia Setya Andini; Imronudin
Journal of Governance, Taxation and Auditing Vol. 4 No. 3 (2026): Journal of Governance, Taxation and Auditing (January - March 2026)
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jogta.v4i3.1734

Abstract

In a highly competitive industrial landscape, maintaining financial strength has become essential for a firm’s long-term viability. Profitability—captured most directly through Return on Assets (ROA)—reflects how effectively a company converts its assets into earnings. This study examines how three key financial indicators shape ROA: the Current Ratio, representing short-term financial resilience; the Debt to Equity Ratio, reflecting the structure and risk profile of corporate financing; and Total Asset Turnover, indicating how efficiently assets are mobilized to generate revenue. By assessing these ratios in industrial companies listed on the Indonesia Stock Exchange during 2021–2024, the research provides a concise overview of how liquidity, leverage, and asset efficiency collectively influence corporate profitability. Each ratio reflects a different aspect of financial health: CR describes the company’s liquidity position, DER indicates its leverage and risk exposure, while TATO captures the degree to which its assets are effectively used to generate sales. The focus on this period is driven by the economic instability associated with the COVID-19 pandemic and its recovery phase, which may have reshaped corporate financial dynamics. Previous studies examining these ratios simultaneously within the industrial sector remain limited. The results of this study are anticipated to contribute to the broader academic discourse on the factors that influence corporate financial performance, while also providing practical guidance for managers and investors who aim to improve a company’s profitability.
Co-Authors Nada An Nur Ula Sheila Rizqya Listy Yudia Setya Andini