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PENGARUH LIKUIDITAS, STRUKTUR MODAL, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUBSEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2019-2023 Villariza Septizilvia; Wiwin Aminah
eProceedings of Management Vol. 13 No. 1 (2026): Februari 2026
Publisher : eProceedings of Management

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Abstract

Salah satu faktor yang menjadi perhatian utama investor dalam menanamkan modal adalah nilai perusahaan, di manasemakin tinggi nilai tersebut mencerminkan semakin besar kepercayaan investor terhadap kemampuan serta prospekperusahaan. Penelitian ini bertujuan menganalisis pengaruh likuiditas, struktur modal, dan ukuran perusahaan terhadapnilai perusahaan pada emiten subsektor farmasi yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2019–2023. Nilai perusahaan diukur menggunakan Price Book Value (PBV). Pendekatan yang digunakan adalah kuantitatif,dengan teknik purposive sampling, yaitu teknik yang mengambil sampel dengan kriteria tertentu sehingga dalampenelitian ini akan menghasilkan sepuluh perusahaan sebagai sampel, sehingga terkumpul 50 observasi. Data yangdigunakan merupakan data sekunder, sedangkan analisis dilakukan dengan regresi data panel melalui program Eviews12. Hasil penelitian menunjukkan bahwa secara simultan, likuiditas, struktur modal, dan ukuran perusahaanberpengaruh terhadap nilai perusahaan. Namun, secara parsial, menunjukkan bahwa hanya struktur modal saja yangberpengaruh terhadap nilai perusahaan, sedangkan likuiditas dan ukuran perusahaan tidak memiliki pengaruhsignifikan.Kata Kunci: nilai perusahaan, likuiditas, struktur modal, ukuran perusahaan
Pengaruh Profitabilitas, Likuiditas Dan Leverage Terhadap Nilai Perusahaan (Studi Pada Perusahaan Sektor Energi Yang Terdaftar Di Bursa Efek Indonesia 2021- 2024) Aulia Nanda; Wiwin Aminah
eProceedings of Management Vol. 13 No. 1 (2026): Februari 2026
Publisher : eProceedings of Management

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Abstract

Tingkat kepercayaan publik terhadap kinerja perusahaan tercermin dari nilai perusahaan, yang menjadi tolok ukurpenting bagi kreditor dan investor ketika mereka membuat keputusan pinjaman dan investasi. Semakin positif responskreditor dan investor, semakin bernilai bisnis tersebut. Perusahaan energi yang terdaftar antara tahun 2021 dan 2024di Bursa Efek Indonesia (BEI) menjadi subjek studi ini. Sektor energi dipilih karena kontribusinya yang pentingterhadap pencapaian Indonesia Emas 2045. Tujuan studi ini adalah menentukan pengaruh parsial dan simultan dariprofitabilitas, likuiditas, dan leverage terhadap nilai perusahaan. Sebanyak 52 perusahaan dipilih sebagai sampelmenggunakan purposive sampling dan metode kuantitatif, menghasilkan 208 titik data observasi. Regresi data paneldigunakan untuk menganalisis data menggunakan E-views 12. Temuan menunjukkan bahwa profitabilitas (Return onAssets), likuiditas (Current Ratio), dan leverage (Debt to Equity Ratio) semuanya memiliki dampak substansialterhadap nilai perusahaan. Namun, sampai batas tertentu, hanya variabel likuiditas yang memiliki dampak substansial,yang menurunkan nilai perusahaan. Variabel leverage dan profitabilitas, di sisi lain, hanya secara parsial menunjukkandampak yang substansial.Kata Kunci : Nilai Perusahaan, Profitabilitas, Likuiditas dan Leverage
Pengaruh Profitabilitas, Struktur Modal, dan Kebijakan Dividen terhadap Nilai Perusahaan (Studi Kasus pada Perusahaan Sub-Sektor Food & Beverages yang terdaftar di Bursa Efek Indonesia Tahun 2019-2023) Hebryan Johannes Greck Sbastian Siagian; Wiwin Aminah
eProceedings of Management Vol. 13 No. 1 (2026): Februari 2026
Publisher : eProceedings of Management

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Abstract

Nilai Perusahaan merupakan salah satu hal penting yang harus diperhatikan suatu perusahaan. Dalam meningkatkannilai perusahaan merupakan faktor utama serta tujuan utama perusahaan. Peningkatan nilai perusahaan merupakancerminan keberhasilan dalam mencapai sasaran bisnis, sekaligus menunjukkan hasil positif bagi para pemegangsaham. Investor umumnya tertarik pada perusahaan dengan nilai yang tinggi, karena hal ini menandakan kinerja yangsolid dan potensi keuntungan yang menjanjikan. Indikator harga pasar saham dapat memberikan gambaran jelasmengenai nilai perusahaan, seringkali mengisyaratkan peluang investasi yang sangat baik. Bagi para investor, nilaiperusahaan bukan sekadar angka di pasar saham saat ini. Populasi pada penelitian ini adalah perusahaan sub-sektorindustri makanan dan minuman yang terdaftar di BEI tahun 2019-2023. Penelitian ini menggunakan teknik purposivesampling dalam pengambilan sampel, dengan total 10 perusahaan yang dijadikan objek selama periode 5 tahun,sehingga menghasilkan 50 data observasi. Analisis data dilakukan menggunakan metode data panel dengan bantuanperangkat lunak E-Views 13. Hasil penelitian menunjukkan bahwa secara simultan profitabilitas (ROE), strukturmodal (DER), serta kebijakan dividen (DPR) berpengaruh positif terhadap nilai Perusahaan (PBV). Secara parsialprofitabilitas (ROE) berpengaruh positif terhadap nilai Perusahaan (PBV), sementara struktur modal (DER), sertakebijakan dividen (DPR) berpengaruh negatif terhadap nilai Perusahaan (PBV).Kata Kunci- Profitabilitas, Struktur Modal, Kebijakan Dividen, Nilai Perusahaan
The Effect of Return on Assets, Debt to Equity Ratio, and Current Ratio on Stock Prices of Banking Sub-Sector (KBMI 3 and KBMI 4) Listed on the Indonesia Stock Exchange for the 2020–2024 Period Muhammad Neza Qatrunada; Wiwin Aminah
JURNAL ECONOMINA Vol. 5 No. 6 (2026): JURNAL ECONOMINA, Juni 2026
Publisher : LPPM Sekolah Tinggi Ilmu Ekonomi 45 Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55681/economina.v5i6.2581

Abstract

Financial sub-sector businesses listed on the Indonesia Stock Exchange between 2020 and 2024 will be the focus of this research, which seeks to analyse the impact of ROA, DER, and CR on stock prices. Following the COVID-19 epidemic, there were stock price movements in the banking industry that did not necessarily correspond with changes in the underlying financial statistics of the firms, which prompted this investigation. Further research is needed to fill a research gap caused by inconsistent findings in previous studies on the impact of ROA, DER, and CR on stock prices. Because of its central position in the country's financial system and its hegemony over financial services assets in Indonesia, the banking industry was chosen for this study. A quantitative technique based on the associative causal approach is used in this investigation. Secondary data, such as KBMI 3 and KBMI 4 banking businesses' yearly financial statements and closing stock prices from 2020 to 2024, are used. Businesses that fulfilled the study's criteria were selected using a purposive sampling strategy. Using EViews 13's panel data regression, we evaluated the data. A battery of tests were run, including F-tests for simultaneous and partial testing, evaluations of coefficients of determination, and classical assumption tests. The results of this research show that from 2020 to 2024, the stock prices of financial institutions KBMI 3 and KBMI 4 that were listed on the Indonesia Stock Exchange were greatly affected by Return on Assets (ROA), Debt to Equity Ratio (DER), and Current Ratio (CR) all at once. Although there is no correlation between DER and CR, there is a positive and statistically significant one between ROA and stock prices. These results show that when deciding to invest in a banking firm, investors care more about the profitability of the business than about the solvency and liquidity ratios. Theoretically, this research should help advance Agency Theory and fundamental analysis inside Indonesia's stock market. Investors may use this study's findings to inform their investment choices, and business leaders may use them to boost their companies' capital market value by enhancing financial performance.
Determinasi Manajemen Laba: Peran Kepemilikan Manajerial, Leverage, dan Free Cash Flow Asyira Khansa Rafifah; Wiwin Aminah
Owner : Riset dan Jurnal Akuntansi Vol. 10 No. 3 (2026): Periode Juli 2026
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v10i3.3351

Abstract

This study examines the effect of managerial ownership, Leverage, and free cash flow on earnings management in infrastructure companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2024. Prior studies report inconsistent findings and provide limited evidence for the infrastructure sector in recent periods. Based on agency theory, earnings management may arise from conflicts of interest between managers and shareholders. The study population comprises all infrastructure sector companies listed on the IDX during the research period. Purposive sampling was applied to select companies that were continuously listed and published annual reports throughout 2021–2024, resulting in 31 companies and 124 observations. A quantitative approach was used, utilizing secondary data from the companies’ annual reports and official IDX publications. Data analysis was conducted using panel data regression in EViews 13. The findings show that managerial ownership, leverage, and free cash flow simultaneously influence earnings management. Partially, however, only free cash flow has a significant positive effect, while managerial ownership and Leverage are not statistically significant. These results suggest that a higher level of free cash flow may encourage managers to engage in earnings management activities. This study contributes by providing recent empirical evidence and highlighting the dominant role of free cash flow in influencing earnings management in the infrastructure sector
Determinasi Profitabilitas Perusahaan Batu Bara: Peran Working Capital Turnover, Likuiditas, dan Struktur Modal Aulia Rahman; Wiwin Aminah
Owner : Riset dan Jurnal Akuntansi Vol. 10 No. 3 (2026): Periode Juli 2026
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v10i3.3556

Abstract

This study examines the effects of working capital turnover, liquidity, also capital structure on the profitability of coal industry corporations listed on the IDX during 2021-2024. Previous studies have produced mixed findings and provided limited empirical evidence, particularly in the coal industry. Profitability, as a crucial metric of financial performance, may be influenced by how effectively companies manage working capital, liquidity, and determine their financing structure. In addition, Challenges facing the coal business include price volatility also regulatory changes that might affect profitability. All coal-related businesses that were listed on the IDX throughout the study period make up the population. Purposive sampling was used to choose 29 businesses, yielding 116 firm-year observations from companies that consistently published annual reports between 2021 and 2024. This investigation uses a quantitative methodology also secondary data from official IDX publications also yearly reports. Panel data regression using EViews 13 was used to examine the data after traditional assumption testing. The findings show that capital structure, liquidity, and working capital turnover simultaneously affect profitability at the same time. While working capital turnover and liquidity have little bearing on profitability, capital structure has a somewhat negative impact. These results imply that higher capital structure levels may reduce profitability. This research enriches the literature by offering updated empirical findings and emphasizing capital structure as a key determinant of profitability in the coal industry.
The Effect of Profitability, Leverage, and Asset Growth on Company Value Alexander Purba; Cahyaningsih Cahyaningsih; Wiwin Aminah
Eduvest - Journal of Universal Studies Vol. 5 No. 7 (2025): Eduvest - Journal of Universal Studies
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/eduvest.v5i7.50775

Abstract

The value of a company reflects its achievements and public trust over time, represented by the price agreed upon in buy-sell transactions. An increase in stock prices enhances company value and investor profits. Indonesia's manufacturing industry, covering diverse sectors like chemicals and consumer goods, has shown consistent growth, particularly in the pulp and paper sub-sector. Both Indonesia and Brazil have unique advantages for efficient pulp production, with the pulp and paper export sector reaching $7.5 billion in 2021. A company's value mirrors investor sentiment about its performance and future prospects, while rising stock prices indicate increasing company value, influenced by various market factors. This study uses research methode such a descriptive statistics, panel data regression, classical assumption tests, F-tests, R² for model explanation, and t-tests to assess the significance of independent variables. The finding of this paper is profitability positively influences company value, while leverage negatively impacts it; additionally, asset growth significantly enhances dividend policy.
PENINGKATAN KOMPETENSI SISTEM INFORMASI AKUNTANSI SISWA SMK MELALUI PELATIHAN ACCURATE ACCOUNTING Galuh Tresna Murti; Dwi Urip Wardoyo; Wiwin Aminah
Jurnal Pengabdian Masyarakat Ekonomi dan Bisnis Digital Vol. 2 No. 3 (2025): September
Publisher : Yayasan Nuraini Ibrahim Mandiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70248/jpmebd.v2i3.3035

Abstract

Pengabdian ini bertujuan untuk meningkatkan kompetensi sistem informasi akuntansi siswa SMK melalui pelatihan penggunaan aplikasi software Accurate Accounting. Metode yang digunakan adalah pelatihan interaktif dengan penyampaian materi, simulasi pencatatan transaksi keuangan menggunakan metode role play, serta evaluasi melalui tanya jawab dan kuesioner tanggapan peserta. Hasil pengabdian menunjukkan bahwa pelatihan berhasil meningkatkan pemahaman dan keterampilan siswa dalam menggunakan sistem informasi akuntansi berbasis teknologi dengan rata-rata kepuasan peserta mencapai 91% pada berbagai aspek penilaian. Simpulan dari pengabdian ini adalah pelatihan penggunaan software Accurate Accounting efektif dalam meningkatkan kompetensi sistem informasi akuntansi siswa SMK sehingga mereka lebih siap menghadapi kebutuhan dunia kerja.   Kata Kunci: Sistem Informasi Akuntansi, Pelatihan, Accurate Accounting, Kompetensi Siswa
The Effect of Corporate Social Responsibility Disclosure and Good Corporate Governance on Financial Performance (Study on Mining Sector Companies Listed on the Indonesia Stock Exchange in 2020–2024) Khansa Rayhan Dhirayoga; Wiwin Aminah
Journal of Accounting and Finance Management Vol. 6 No. 5 (2025): Journal of Accounting and Finance Management (November - December 2025)
Publisher : DINASTI RESEARCH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/jafm.v6i5.2816

Abstract

This study examines the effect of Corporate Social Responsibility Disclosure (CSRD) and Good Corporate Governance (GCG) on financial performance for mining firms listed on the Indonesia Stock Exchange during 2020–2024. The sample includes 12 companies yielding 60 panel observations. Financial performance is proxied by Return on Assets (ROA). Independent variables are CSRD, board size, proportion of independent commissioners, and audit committee size. Panel regression analysis (Common Effect Model) was applied using EViews 12. Results show that CSRD and GCG jointly affect financial performance (Prob F = 0.000123). Individually, CSRD and board size have positive significant effects on ROA, independent commissioners have a significant negative effect, while audit committee size is not significant. The findings highlight the role of CSR disclosure and board effectiveness in improving profitability and suggest evaluating the oversight quality of commissioners and audit committees to enhance governance outcomes.
Improving Digital Accounting Information System Competence Through AkunBiz Application Training for MSMEs Rumah Kelor Anjani Dwi Urip Wardoyo; Galuh Tresna Murti; Wiwin Aminah
SOCIRCLE : Journal Of Social Community Services Vol. 4 No. 3 (2025): SOCIRCLE: Journal Of Social Community Services
Publisher : PT. Berkah Digital Teknologi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58468/socircle.v4i3.46

Abstract

This community service program aims to enhance the digital accounting information system competencies of Micro, Small, and Medium Enterprises (MSMEs) through training on the AkunBiz Accounting application for Rumah Kelor Anjani MSMEs located in Cileunyi, Bandung Regency. The main problem faced by the partner is the continued use of manual financial recording, which hinders the preparation of accurate and timely financial reports. The implementation method included the delivery of basic accounting information system concepts, software demonstrations of the AkunBiz Accounting application, hands-on practice based on the partner’s business case studies, and evaluation using a Likert-scale questionnaire. The results indicate an improvement in participants’ understanding and practical skills in recording transactions and preparing digital financial reports. The final evaluation shows a satisfaction and effectiveness level of 95 percent, which falls into the very good category. The implementation of a locally developed digital accounting application is expected to improve the professionalism of financial management and support the sustainability and competitiveness of MSMEs in the context of an increasingly dynamic business environment. ABTRAK Kegiatan pengabdian kepada masyarakat ini bertujuan untuk meningkatkan kompetensi sistem informasi akuntansi digital pelaku Usaha Mikro, Kecil, dan Menengah (UMKM) melalui pelatihan penggunaan aplikasi AkunBiz Accounting pada UMKM Rumah Kelor Anjani di Cileunyi, Kabupaten Bandung. Permasalahan utama yang dihadapi mitra adalah pengelolaan keuangan yang masih dilakukan secara manual, sehingga menyulitkan penyusunan laporan keuangan yang akurat dan tepat waktu. Metode pelaksanaan kegiatan meliputi pemberian materi konsep dasar sistem informasi akuntansi, demonstrasi penggunaan aplikasi AkunBiz Accounting, praktik langsung berbasis studi kasus usaha mitra, serta evaluasi menggunakan kuesioner skala Likert. Hasil kegiatan menunjukkan adanya peningkatan pemahaman dan keterampilan praktis peserta dalam melakukan pencatatan transaksi dan penyusunan laporan keuangan secara digital. Evaluasi akhir menunjukkan tingkat kepuasan dan efektivitas kegiatan sebesar 95 persen, yang termasuk dalam kategori sangat baik. Implementasi sistem informasi akuntansi digital melalui aplikasi lokal ini diharapkan mampu meningkatkan profesionalisme pengelolaan keuangan serta mendukung keberlanjutan dan daya saing UMKM di tengah dinamika bisnis modern.
Co-Authors Akbar, Lily M Al Ayyubi, Muhammad Wafaa Alexander Purba Ali Riza Fahlevi Anggraeni, Dhea Adelia Anni Muthmainnah Amaliyah Annisa Nurbaiti Arafat, Enid Ayu Nadhirah Arfista, Fajra Asyira Khansa Rafifah Audia Putri, Stefany Aulia Nanda Aulia Rahman Aulia, Adhelia Zaskia Brady Rikumahu Cahyaningsih Cahyaningsih Chairani, Anisa Juli Cut Syahidathain Meutia Az Zahra Dembi Tri Al-Fikri Deyla Sayidha Zalfadiva Dhian Wahyuni Dillak, Vaya Juliana Dimas Farid Satria Nugraha Dini Wahjoe Hapsari Djusnimar Zultilisna Djusnimar Zultilisna Dwi Urip Wardoyo Ebenezer S Fatimah Kurniawati Putri Fiarniah, Dini Fidelya Meindra Shafitri Firjatulloh, Farhan Gede Teguh Laksana Gita Wahyuningsih Putri Guniarti, Khaerunisa Hebryan Johannes Greck Sbastian Siagian Hermawati Nurciptaning Arum Hilda Salman Said Imanuddin Hasbi Ismaya Adriyanti Jinan, Edindra Najla Kartika Khairunisa Khairunnisa Khairunnisa Khairunnisa Khairunnisa Khanasya Ismy Lutfiany Khansa Rayhan Dhirayoga Lukman Abdurrahman Miftah Kamal Nuriyanto Moch Arif Bijaksana Mohamad Rafki Nazar Muhammad Neza Qatrunada Muhammad Wafaa Al Ayyubi Muhammad Zharfan Marsyafadhlan Nazah, Mohammad Angga Saefun Nazar, Muhammad Rafki Nindia Putri Septiani Nugraha, Dionisius Agung Tyasta Nurul Aiman Fiqararimmakin Nurul Aiman Fiqararimmakin Nurul Rachma Fadhyla Octari Dinata, Ruri Octavianty, Riza Permata Paramita, Nadia Nur Prawira, Sukma Adhitia Qodrio, Anjelina Radhiyya, Zidny Robbie Rahmi, Indah Aliza Riko Hendrawan Ruri Octari Dinata S, Ebenezer Shendy Shendy Shofa Irawan, Mutiara Alya Sita Deliyana Firmialy Sitanggang, Grace Putri P P SRI RAHAYU Suryani, Aurelia Putri Syawal, Achmad Nur Tri Utami Lestari Villariza Septizilvia Wulandari, Ida Ayu Iswari Wulandari, Shintya