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Pengaruh Profitabilitas, Struktur Modal, dan Likuiditas terhadap Nilai Perusahaan Manufaktur Makanan dan Minuman Nur Azda; Simon Hendrik Leasa; Hansen Hein Rumtutuly
TIN: Terapan Informatika Nusantara Vol 7 No 1 (2026): June 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/tin.v7i1.9970

Abstract

This study aims to examine the effect of profitability, capital structure, and liquidity on firm value in food and beverage manufacturing companies listed on the Indonesia Stock Exchange during the 2021-2024 period. In this study, Return on Assets (ROA) is used as a proxy for profitability, Debt to Equity Ratio (DER) represents capital structure, Current Ratio (CR) is employed to measure liquidity, while Price to Book Value (PBV) serves as an indicator of firm value. A quantitative approach was adopted, employing multiple linear regression analysis to examine the relationships among the variables. The study utilized secondary data obtained from the annual financial statements of food and beverage manufacturing companies listed on the Indonesia Stock Exchange. The sample was selected using a purposive sampling technique, resulting in a total of 80 observations. The findings reveal that profitability has no significant effect on firm value (sig. = 0.307). In contrast, capital structure has a positive and significant effect on firm value (sig. = 0.001). Liquidity, however, does not have a significant effect on firm value (sig. = 0.225). The coefficient of determination of 15.1% indicates that the independent variables included in the model explain a portion of the variation in firm value. These findings highlight the importance of effective capital structure management in enhancing firm value and enhancing investor interest. Nevertheless, this study is limited to three independent variables and focuses exclusively on food and beverage manufacturing companies during the 2021-2024 period. Therefore, future research is recommended to expand the scope of the study by incorporating additional variables, such as dividend policy, firm size, firm growth, and macroeconomic factors, as well as extending the research object and observation period to obtain more comprehensive empirical evidence.
Financial Well-Being Pelaku UMKM di Wilayah Kepulauan: Peran Mediasi Financial Behavior Simon Hendrik Leasa; Hanifa Bennu Nur; Semuel Souhoka; Nur Azda
ARBITRASE: Journal of Economics and Accounting Vol. 7 No. 1 (2026): July 2026
Publisher : Forum Kerjasama Pendidikan Tinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/arbitrase.v7i1.3213

Abstract

Micro, Small, and Medium Enterprises (MSMEs) in archipelagic regions face economic challenges, including limited economic access, high logistics costs and business instability, which may adversely affect financial well-being. Although research on financial well-being has grown substantially, studies examining the mediating role of financial behavior among MSMEs in archipelagic regions remain limited. Therefore, this study examines the effects of financial literacy and financial self-efficacy on financial well-being through financial behavior among MSME owners in Ambon City, Maluku Province. A quantitative explanatory research design was employed involving 120 MSME owners selected through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0. The results indicate that financial literacy positively affects financial behavior (? = 0.216, p = 0.009), while financial self-efficacy also has a positive effect (? = 0.498, p < 0.001). Financial behavior positively affects financial well-being (? = 0.527, p < 0.001) and significantly mediates the relationships between financial literacy, financial self-efficacy, and financial well-being. Financial self-efficacy also exerts a stronger influence than financial literacy in shaping financial behavior. The novelty of this study lies in developing a behavioral mechanism-based financial well-being model for MSMEs in archipelagic regions. The findings contribute to the behavioral finance literature by providing empirical evidence on the behavioral mechanisms underlying financial well-being and offer practical implications for designing programs that strengthen financial literacy, financial self-efficacy and adaptive financial behavior to enhance MSMEs' financial resilience.