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PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN DIVIDEN (Studi pada Perusahaan Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia tahun 2017-2020) Trigomer Nainggolan; Ickhsanto Wahyudi
Jurnal Publikasi Ekonomi dan Akuntansi Vol. 3 No. 1 (2023): Januari : Jurnal Publikasi Ekonomi dan Akuntansi
Publisher : Pusat Riset dan Inovasi Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/jupea.v3i1.574

Abstract

Investment is one of the activities that can provide benefits to several parties, such as for the progress of the company in running its business, even the development and growth of the economic sector in a country is also indicated by the number of investors who invest their funds or capital into securities companies in the capital market. Before investing in a company, investors will analyze companies that produce good stock returns, one of which is by analyzing the existing dividend policy in the company. This research was conducted to determine the effect of Profitability, Liquidity, Leverage, and Firm Size. The population using the Food and Beverage sub-sector companies for the 2017-2020 period amounted to 38 companies and the sample obtained was 10 companies using purposive sampling technique. The analysis in this study uses descriptive statistics, while hypothesis testing uses multiple linear regression. The results of this study indicate that there is a simultaneous influence between Profitability, Liquidity, Leverage, and Firm Size on dividend policy. Partially, only liquidity and firm size have a positive effect on dividend policy. Profitability and Leverage have no partial effect on dividend policy.
Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Sektor Makanan dan Minuman Yang terdaftar di Bursa Efek Indonesia Tahun 2018-2021 clara florensita yulisa; Ickhsanto Wahyudi
Jurnal Publikasi Ekonomi dan Akuntansi Vol. 3 No. 1 (2023): Januari : Jurnal Publikasi Ekonomi dan Akuntansi
Publisher : Pusat Riset dan Inovasi Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/jupea.v3i1.580

Abstract

This study aims to determine the effect of capital structure, profitability and firm size on firm value. The population and sample in this study are the financial statements of 48 Food and Beverage Manufacturing Companies listed on the Indonesia Stock Exchange in 2018-2021. This research technique uses classical assumption test, multiple linear regression analysis, hypothesis testing and coefficient of determination test. The collection technique used the method of documentation and literature study. The results of the t-test (partial) can be seen that the first hypothesis which states that capital structure has a positive and significant effect on firm value is rejected. The second hypothesis which states that profitability has a significant positive effect on firm value is accepted. The third hypothesis which states that firm size has a significant positive effect on firm value is rejected. The magnitude of the coefficient of determination is 0.335 or equal to 33.5%. This value shows that the variables of Capital Structure, Profitability, and Company Size simultaneously affect the Company Value by 33,5%. While the rest (100% - 33.5% = 67.5%) is influenced by other variables outside this regression equation or variables not examined.
Pengaruh Rasio Solvabilitas, Rasio Profitabilitas dan Kebijakan Dividen Terhadap Harga Saham Kholilur Rachman; Ickhsanto Wahyudi
Jurnal Simki Economic Vol 6 No 1 (2023): Volume 6 Nomor 1 Tahun 2023
Publisher : Universitas Nusantara PGRI Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/jse.v6i1.213

Abstract

his study aims to identify the relationship between the Solvability Ratio (DAR), Profitability Ratio (ROA) and Dividend Policy (DPR) on Stock Prices. This study utilizes information obtained from the consumer goods industry's financial reports published on the IDX, and uses a purposive sampling test method by fulfilling the exploration step. This study took observations over 3 years from 2019-2021 and obtained 75 data from 25 consumer goods industries. The research method used with the Statistical Package for the Social Sciences (SPSS) is of secondary data type. Obtained from the research shows that the Solvability Ratio (DAR) has no positive effect on Stock Prices, Profitability Ratio (ROA) has a partial and significant positive effect on Stock Prices and Dividend Policy (DPR) has no positive effect on Stock Prices.
Zakat for Digital Literacy: Closing the Orphaned-Urban Tech-Gap to Prevent Future Unemployment Crises Wahyudi, Ickhsanto; Rahmawati, Rahmawati; Amelia, Erika; Yama, Indo
International Journal of Zakat Vol 11 No 1 (2026): International Journal of Zakat
Publisher : Center of Strategic Studies (PUSKAS) BAZNAS

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37706/ijaz.v11i1.764

Abstract

Purpose This paper proposes a zakat-funded digital literacy voucher as a policy instrument to support Indonesia’s national digital talent and youth employment agenda by expanding access to market-relevant skills for unemployed and out-of-school urban youth. Design/Methodology/Approach The study adopts a policy-oriented conceptual approach that integrates labor market evidence, digital skills demand analysis, and zakat governance. It designs a Sharīʿah-compliant, restricted-purpose voucher mechanism administered by zakat institutions and redeemable at accredited digital training providers, aligned with outcome-based financing principles. Findings The proposed model demonstrates that zakat can be operationalized as an active labor market policy complementing existing government programs such as digital talent development initiatives. The voucher system improves targeting, transparency, and accountability by linking disbursement to training completion and certification outcomes. It also addresses affordability constraints that limit participation of vulnerable urban youth in private digital training programs. Research limitations/implicationsThis study is limited to policy design and does not assess implementation outcomes. Future research should evaluate pilot programs in selected urban areas to measure employment impacts, fiscal efficiency, and inter-institutional coordination. Practical implicationsThe model provides a framework for zakat institutions and policymakers to integrate Islamic social finance with national digital talent programs. Social implicationsThe program supports youth employment, reduces NEET risk, and strengthens economic inclusion in the digital economy. Originality/value The paper offers a practical policy framework for integrating zakat into Indonesia’s digital workforce ecosystem, positioning Islamic social finance as a complementary instrument to public employment and digital inclusion strategies.
Pengaruh Struktur Modal, Profitabilitas dan Ukuran Perusahaan Terhadap Nilai Perusahaan Tiara Putri; Ickhsanto Wahyudi
Reslaj: Religion Education Social Laa Roiba Journal Vol. 7 No. 1 (2025): RESLAJ: Religion Education Social Laa Roiba Journal 
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/reslaj.v7i1.6115

Abstract

The research aims to determine the effect of capital structure, profitability and company size on company value in food and beverage sub-sector companies listed on the Indonesian Stock Exchange (BEI) from 2021 to 2023. In this research the independent variable used is capital structure. using Debt to Equity Ratio (DER), profitability using Return on Assets (ROA), and company size using natural logarithm (Ln) of total assets, and the dependent variable, namely company value using modified Tobin's Q. The population in this study was 95 food and beverage sub-sector companies. The sample was selected using a purposive sampling method with predetermined criteria so that 44 companies were collected over 3 years, resulting in 132 research samples. The data used is secondary data in the form of financial reports obtained from the website www.idx.co.id, measured using SPSS research tools. The results of this research reveal that capital structure has a significant negative effect on company value, profitability has an insignificant positive effect on company value, and company size has an insignificant negative effect on company value.
Factors Affecting Financial Distress in Trading Companies Listed on The Indonesia Stock Exchange Aini, Syelvi Nurul; Wahyudi, Ickhsanto
Journal of Governance, Taxation and Auditing Vol. 4 No. 4 (2026): Journal of Governance, Taxation and Auditing (April - June 2026)-In Progress
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jogta.v4i4.1907

Abstract

This study aims to analyze the effect of the debt-to-asset ratio (DAR), business strategy, board of directors, and earnings management on financial distress in trading companies listed on the Indonesia Stock Exchange during the 2022–2024 period, with firm size serving as a moderating variable. This study employed a quantitative approach using secondary data in the form of companies' financial statements obtained from the official website of the Indonesia Stock Exchange. The sample consisted of 36 companies selected from a population of 62 through a purposive sampling technique, resulting in 108 observations. Data were analyzed using descriptive statistics, panel data regression, and Moderated Regression Analysis (MRA), with model selection conducted through the Chow test and Hausman test. The results indicate that DAR has a negative and significant effect on financial distress, while business strategy has a positive and significant effect on financial distress. Meanwhile, the board of directors and earnings management do not have a significant effect on financial distress. In addition, firm size is not able to moderate the effect of DAR on financial distress. This study is expected to provide useful insights for management and investors in understanding the factors that influence the risk of financial distress.
Co-Authors Abdul Haeba Ramli Afifah, Nabilah Inayah Agus Cholik Agus Munandar Aini, Syelvi Nurul Angelita, Julya Anggi Amalia Putri Anggraeni, Tania Sukma Anggraini, Pingkan Anjilni, Ratih Qadarti Arumtyas Safitri Asep Kurniawan Ayu Larasati Cahyani, Gina Indah Chartady, Rachmad Chris Monica Levia Christina, Metta Wira clara florensita yulisa clara florensita yulisa Darwant Darwant Diana Aulia Nuroktavia Dimas Kenn Syahrir Dita Wahyu Saputra Durlista, Machillah Afany Dwi Joko Siswanto Efrem Arfan Uspupu Eka susanti Elyta, Maria Erika Amelia Erika Amelia Erlyn Shukma Dewi Euis Amalia Euis Amalia Evita Lendani Faschruella Maudhiky Futuh Tri Suryani Gina Indah Cahyani Handayani, Windi Antika Hanifah Hanny Endah Lestari Ibnu Qizam Ibnu Qizam Indo Yama Intan Kasria Defi Irawan, Reza Irianti, Dwi Kholilur Rachman Leonardo Leonardo Levia, Chris Monica Lucy Maya Enjela Mahroji Mahroji, Mahroji Margaret Thanos, Angela Mauludi, Andri Muhamad Nadratuzzaman Hosen MUHAMMAD SAID Munjiah, Fatihi Nadira Reskika Noviar, Yan Nur Fitriah Prasetya, Eka Rima Preicilia, Anita Preicilia, Claudia Purnomo, Listiya Ike Purwaningsih, Eny Putri, Aloysia Praskalin Jelita Rachman, Kholilur Rafida Rafsanjani Rahayu, Indah Rahelita Suganda Rahmawati, Rahmawati Raihania Salsabila Rangga Bayu Soeandhika Rasika Dhuita Haya Minhaj Reza, Reza Rezki Aulia Rini Rini Robby Alexander Chandra Safitri, Kesuma Dewi Santi Susanti Silvia Caroline Siti Yusina Utami Putri Solekhah Suryani, Futuh Tri Susinah Kuntadi Suswanto, Riza Eko Syahrir, Dimas Kenn Syahzuni, Barlia Annis Taha, Roshaiza Tantri Yanuar Rahmat Syah Teguh Ardiansah Tiara Putri Trigomer Nainggolan Trigomer Nainggolan Vania Calista Vicky Ardian Widia Febriana, Widia Wulandari, Safira Putri Yama, Indo YENNY YENNY Zuhairan Yunmi Yunan