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Pengaruh Good Corporate Governance terhadap Kinerja Perusahaan PT Hanjaya Mandala Sampoerna Tbk Periode 2014 - 2023 Fauziah, Zulfa; Irnawati, Jeni
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 1 (2026): Februari - April
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i1.7260

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh good corporate governance terhadap kinerja keuangan yang diukur dengan Return on Equity (ROE) pada PT Hanjaya Mandala Sampoerna Tbk selama periode 2014–2023. Variabel independen yang digunakan meliputi komisaris independen (X1), kepemilikan institusional (X2), dan ukuran dewan direksi (X3). Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder berupa laporan keuangan tahunan selama sepuluh tahun, kemudian dianalisis menggunakan regresi linier berganda dengan bantuan perangkat lunak SPSS. Hasil pengujian simultan melalui uji F menunjukkan bahwa ketiga variabel independen secara bersama-sama berpengaruh signifikan terhadap ROE dengan nilai signifikansi < 0,001. Secara parsial, kepemilikan institusional (X2) terbukti berpengaruh positif dan signifikan terhadap ROE dengan nilai signifikansi < 0,001 serta koefisien regresi sebesar 8,542. Ukuran dewan direksi (X3) juga berpengaruh positif dan signifikan terhadap ROE dengan nilai signifikansi 0,018 dan koefisien regresi sebesar 0,047. Sebaliknya, komisaris independen (X1) tidak menunjukkan pengaruh signifikan terhadap ROE dengan nilai signifikansi 0,195. Berdasarkan temuan tersebut, dapat disimpulkan bahwa kepemilikan institusional dan ukuran dewan direksi memiliki peran penting dalam meningkatkan kinerja keuangan perusahaan, sedangkan komisaris independen dan komite audit belum terbukti memberikan kontribusi empiris terhadap ROE. Hasil ini menegaskan bahwa struktur kepemilikan dan efektivitas dewan direksi menjadi faktor utama dalam mendukung pencapaian kinerja keuangan perusahaan
The Effect of Capital Structure, Dividend Policy, and Firm Size on Firm Value: Evidence from PT Adhi Karya (Persero) Tbk (2014–2024) Andi Manafe; Jeni Irnawati
International Journal of Economics and Management Sciences Vol. 3 No. 2 (2026): May : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i2.1193

Abstract

This study examines the effect of capital structure, dividend policy, and firm size on firm value at PT Adhi Karya (Persero) Tbk during the period 2014–2024. The company’s firm value has shown fluctuations and a declining trend despite an increase in total assets, indicating a mismatch between asset growth and market perception. This study aims to analyze the influence of internal financial factors on firm value, both partially and simultaneously. A quantitative approach is employed using secondary data obtained from the company’s annual financial statements. Capital structure is measured using the Debt to Equity Ratio (DER), dividend policy using the Dividend Payout Ratio (DPR), firm size using the natural logarithm of total assets, and firm value using Tobin’s Q. Data are analyzed using multiple linear regression with the assistance of SPSS, supported by classical assumption tests, t-test, F-test, and coefficient of determination (R²). The results show that partially, capital structure and dividend policy do not have a significant effect on firm value, while firm size has a significant effect. Simultaneously, all independent variables have a significant effect on firm value. The findings indicate that firm size plays a dominant role, while other factors may also influence firm value beyond the model.
PENGARUH RETURN ON ASSET DAN EARNING PER SHARE TERHADAP HARGA SAHAM PADA PT SURYA CITRA MEDIA TBK TAHUN 2013-2023 Alya Syamsudin; Wirawan Suryanto; Jeni Irnawati
Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA) Vol 9 No 3 (2025): Edisi September - Desember 2025
Publisher : LPPM STIE Muhammadiah Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31955/mea.v9i3.6174

Abstract

Manfaat dari pengkajian ini untuk melihat bagaimana Return on Asset dan Earning per Share berdampak pada harga saham PT Surya Citra Media Tbk dari tahun 2013 hingga 2023. Data hasil olahan didapat melalui catatan keuangan dan ditelaah secara kuantitatif melalui metode deskriptif, uji t, uji f, dan R² yang disesuaikan. Hasil menunjukkan bahwa ROE berpengaruh secara subjektif terhadap harga saham (thitung 3,266 > ttabel 2,306; sig. 0,011 < 0,05), sementara EPS tidak berpengaruh (thitung 0,023 < ttabel 2,306; sig. 0,983 < 0,05). Secara bersamaan, ROA dan EPS berpengaruh terhadap harga saham. Kemampuan model untuk menjelaskan variabel dependen ditunjukkan oleh nilai R² adjustable sebesar 84,3%. Faktor lain di luar penelitian menyumbang 15,7% dari nilai tersebut.
The Impact of Firm Size, Leverage, and Profitability on Company Value in the Pharmaceutical Sector Listed on the Indonesia Stock Exchange (Idx) for the Period 2019-2023 Ajeng Wijaksana; Jeni Irnawati
International Journal of Educational and Life Sciences Vol. 3 No. 2 (2025): February 2025
Publisher : MultiTech Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59890/ijels.v3i2.327

Abstract

This research aims to analyze the influence of Firm Size, Leverage, and Profitability on Firm Value. The study employs a quantitative data analysis method. The population consists of all pharmaceutical companies listed on the Indonesia Stock Exchange (IDX). The sampling technique used is purposive sampling, which yielded a sample of 8 pharmaceutical companies selected based on specific criteria. Data collection was conducted using documentation techniques. The independent variables in this study are Firm Size, Debt to Equity Ratio (DER), and Return on Assets Ratio (ROA), while the dependent variable is Price to Book Value (PBV). The data analysis involves descriptive analysis using secondary data from financial reports of pharmaceutical companies for the 2019-2023 period and statistical analysis with the Eviews 12 software. The study's findings indicate that, partially, firm size positively and significantly affects firm value (0,0024 <0,05), leverage positively and significantly affects firm value (0,0076 < 0,05), and profitability does not affect firm value (0,886 > 0,05). Meanwhile, the simultaneous analysis reveals that firm size, leverage, and profitability collectively do not significantly influence firm value (0,1870 > 0,05).
The Impact of Firm Size, Leverage, and Profitability on Company Value in the Pharmaceutical Sector Listed on the Indonesia Stock Exchange (Idx) for the Period 2019-2023 Ajeng Wijaksana; Jeni Irnawati
International Journal of Educational and Life Sciences Vol. 3 No. 2 (2025): February 2025
Publisher : MultiTech Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59890/ijels.v3i2.327

Abstract

This research aims to analyze the influence of Firm Size, Leverage, and Profitability on Firm Value. The study employs a quantitative data analysis method. The population consists of all pharmaceutical companies listed on the Indonesia Stock Exchange (IDX). The sampling technique used is purposive sampling, which yielded a sample of 8 pharmaceutical companies selected based on specific criteria. Data collection was conducted using documentation techniques. The independent variables in this study are Firm Size, Debt to Equity Ratio (DER), and Return on Assets Ratio (ROA), while the dependent variable is Price to Book Value (PBV). The data analysis involves descriptive analysis using secondary data from financial reports of pharmaceutical companies for the 2019-2023 period and statistical analysis with the Eviews 12 software. The study's findings indicate that, partially, firm size positively and significantly affects firm value (0,0024 <0,05), leverage positively and significantly affects firm value (0,0076 < 0,05), and profitability does not affect firm value (0,886 > 0,05). Meanwhile, the simultaneous analysis reveals that firm size, leverage, and profitability collectively do not significantly influence firm value (0,1870 > 0,05).
Pengaruh Profitabilitas, Growth Opportunity Dan Struktur Modal Terhadap Nilai Perusahaan Pada PT Graha Layar Prima TBK Periode 2014-2024 Anisa Aulia; Jeni Irnawati
Jurnal Ekonomi Manajemen dan Bisnis (JEMB) Vol. 5 No. 1 (2026): Januari - Juni
Publisher : CV. ITTC INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47233/jemb.v5i1.4512

Abstract

This study is motivated by fluctuations in the financial performance of PT Graha Layar Prima Tbk during the period 2014–2024, which have the potential to significantly affect the firm value. This condition reflects the importance of conducting an in-depth analysis of the factors influencing firm value in order to identify the most dominant variables. The purpose of this study is to examine the effect of profitability, growth opportunity, and capital structure on firm value at PT Graha Layar Prima Tbk for the period 2014–2024.n This study employs a quantitative approach with a descriptive method to provide a clear overview of the relationships among the variables. The data used are secondary data in the form of the company’s annual financial statements over an 11-year period. The data analysis techniques include descriptive analysis, classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation), multiple linear regression analysis, coefficient of determination test, and hypothesis testing consisting of partial tests (t-test) and simultaneous tests (F-test). The results show that partially, profitability and growth opportunity do not have a significant effect on firm value, while capital structure has a significant effect on firm value. Simultaneously, profitability, growth opportunity, and capital structure have a significant effect on firm value. The conclusion of this study indicates that capital structure is the most dominant factor influencing firm value during the research period. The findings are expected to serve as a consideration for company management in determining funding policies to enhance firm value.
Pengaruh Risiko Kredit, Modal, dan Profitabilitas terhadap Kebijakan Dividen pada Perusahaan Perbankan Wirawan Suryanto; Vega Anismadiyah; Jeni Irnawati
Paraduta : Jurnal Ekonomi dan Ilmu-Ilmu Sosial Vol 4 No 2 (2026): Juni
Publisher : Universitas Madako Tolitoli

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56630/paraduta.v4i2.1791

Abstract

This study aims to analyze the effect of credit risk, capital, and profitability on dividend policy in banking companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. Credit risk is proxied by Non-Performing Loan (NPL), capital is proxied by Capital Adequacy Ratio (CAR), profitability is proxied by Return on Assets (ROA), and dividend policy is proxied by Dividend Payout Ratio (DPR). This study uses a quantitative method with a panel data regression approach involving 20 commercial banks as samples over a 5-year observation period, yielding 100 observation units. The results of the panel data regression analysis show that credit risk has a negative and significant effect on dividend policy, capital has a positive and significant effect on dividend policy, and profitability has a positive and significant effect on dividend policy. Simultaneously, all three variables significantly influence the dividend policy of banking companies. The findings of this study are expected to serve as a reference for bank management in profit distribution decision-making and for regulators in formulating prudential banking policies.