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Manajemen arus kas, ukuran perusahaan, leverage, tahun anomali covid-19 serta kinerja keuangan perusahaan sektor kesehatan di bursa efek indonesia Ferli, Ossi; Haryanti, Enny; Fadlillah, Robby Adam; Rahman, Rozinur
Jurnal Manajemen Strategi dan Aplikasi Bisnis Vol 7 No 1 (2024)
Publisher : Lembaga Pengembangan Manajemen dan Publikasi Imperium

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36407/jmsab.v7i1.1205

Abstract

This research aims to analyze the impact of Cash Flow Management (CFO), Firm Size, Leverage, and the Anomalous Year of COVID-19 on the financial performance (ROE) of health sector companies listed on the Indonesia Stock Exchange during the period 2017-2022. Panel regression method is employed to test hypotheses and analyze these variables. The results reveal that Leverage has a significant negative influence, while Size has a significant positive effect on financial performance. The Anomalous Year of COVID-19 also demonstrates a positive impact on ROE, indicating adaptation and growth within the health sector during the pandemic. Cash flow management (CFO), though not statistically significant, highlights the complexity of the relationship between operational cash flow and financial performance. These findings provide valuable insights for health sector companies in crafting adaptive and sustainable strategies amidst economic dynamics and specific situations such as a pandemic.
PENGARUH KEMAMPUAN MANAJER INVESTASI TERHADAP KINERJA REKSA DANA PENDAPATAN TETAP DI INDONESIA Alifa, Putri Riska; Ferli, Ossi
Jurnal Ilmu Manajemen (JIMMU) Vol. 7 No. 2 (2022)
Publisher : Magister Manajemen Universitas Islam Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33474/jimmu.v7i2.17648

Abstract

             Perubahan mendasar terjadi dalam perekonomian global yang tidak stabil sehingga dapat mempengaruhi kondisi perekonomian Indonesia. Permasalahan ekonomi Indonesia, diketahui tren pembelian Reksa dana pendapatan tetap karena terjadinya penurunan BI-7DRR, kemudian inflasi menurun hingga menyentuh angka di bawah dua persen, akan tetapi Reksa dana pendapatan tetap dapat menguat dengan persentase nilai aktiva bersih cukup tinggi. Tujuan penelitian ini untuk menganalisis pengaruh variabel makro ekonomi dan kemampuan manajer investasi terhadap kinerja reksa dana pendapatan tetap. Penelitian ini menggunakan metode purposive sampling dengan jumlah sampel 13 Reksa dana pendapatan tetap dengan kriteria reksa dana tipe konvensional, aktif selama periode penelitian januari 2016 sampai desember 2020, dan denominasi USD. Menggunakan model regresi data panel dengan melakukan uji asumsi klasik, uji goodness of fit, dan uji hipotesis. Hasil penelitian menunjukkan bahwa variabel makro ekonomi seperti inflasi, BI-7DRR, dan kurs memiliki pengaruh terhadap kinerja reksa dana pendapatan tetap, namun Market Timing Ability tidak memiliki pengaruh terhadap kinerja reksa dana pendapatan tetap. Jika manajer investasi memperhatikan tingkat inflasi, BI-7DRR, dan kurs pada saat memberikan perkiraan return dan investor memperhatikan variabel makro ekonomi tersebut maka diharapkan dapat mencegah kerugian analisis portofolio return yang diharapkan.Kata Kunci: Reksa Dana, Inflasi, Kurs, Securities Selection Skill, Market Timing Ability             Fundamentals has changes that occur on the unstable global economy that can affect the condition of Indonesia’s Economy. Indonesia’s economy problems are known to trend in purchasing fixed income mutual funds due to the decline of the BI-7DRR, then Inflation has decreases to below two percents, however fixed income mutual funds got strengthen with a fairly high percentages of net asset value. The purpose of this study to analyze the effect of macroeconomics variables and investment managers skills on the fixed income mutual funds performance. This research uses purposive sampling method with total sample of 13 fixed income mutual funds with the criteria of conventional type mutual funds, active during the research period January 2016 to December 2020, and denominated in USD. Using panel data regression model by classic assumption test, goodness of fit test, and hypothesis testing The results show that macroeconomic variables such as inflation, BI-7DRR, and the exchange rate have an influence on the performance of fixed income mutual funds, but Market Timing Ability has no effect on the performance of fixed income mutual funds. If the investment manager pays attention to the inflation rate, BI-7DRR, and the exchange rate when providing return estimates and the investors pay attention to these macroeconomic variables, it is expected to prevent losses in portfolio analysis and losses in the expected return.Keywords:  Mutual Funds, Inflation, Exchange Rate, Securities Selection Skill, and Market Timing Ability
ABNORMAL RETURN DAN VOLATILITAS INDEKS HARGA SAHAM GABUNGAN PADA PASAR EKUITAS NEGARA ASEAN 5 SELAMA PANDEMI COVID-19 Putri, Disya Seviana; Ferli, Ossi
Journal of Accounting, Management and Islamic Economics Vol. 3 No. 2 (2025): Journal of Accounting, Management, And Islamic Economics, Volume 03, No. 02, De
Publisher : Ibs Press

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Abstract

World financial markets, particularly stock exchanges, have been affected by COVID-19. Marked by the Composite Stock Price Index (IHSG) of global exchanges which simultaneously decreased during the pandemic. This study aims to determine the difference between Abnormal Return before and after the annooncement of Covid-19 by WHO and to determine the JCI volatility on the equity markets of ASEAN 5 countries during the Covid-19 pandemic. The sample used is the closing price of the ASEAN 5 daily global stock price index using the MSCI index via the investing.com website. This study uses a descriptive analysis method approach, with event study, GARCH and regression methods. The research period for abnormal returns was the closing price of the JCI at t-10, 1 day at the time of the announcement and t+10 and JCI volatility on March 12 2020- December 12 2022. The results showed that there were significant differences in abnormal returns before and after the announcement of Covid-19 by WHO in ASEAN 5 countries. Previous volatility had an effect on current volatility, and JCI volatility had a positive effect on abnormal returns during the Covid-19 period in ASEAN 5 countries.
PENGARUH DISIPLIN KERJA, ETIKA KERJA, DAN PROFESIONALISME KERJA TERHADAP KINERJA PEGAWAI (STUDI PADA PEGAWAI PT XYZ) Ariansyah, Muh Rangga; Bagasworo, Wasi; Ferli, Ossi; Andriani, Meta
Journal of Accounting, Management and Islamic Economics Vol. 3 No. 2 (2025): Journal of Accounting, Management, And Islamic Economics, Volume 03, No. 02, De
Publisher : Ibs Press

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Abstract

Every company must establish a work culture that is disciplined, ethical, and professional to improve both individual and organizational performance. This study aims to examine “The Influence of Work Discipline, Work Ethics, and Work Professionalism on Employee Performance (A Case Study on Employees of PT XYZ).” The independent variables in this study are Work Discipline, Work Ethics, and Work Professionalism, while the dependent variable is Employee Performance. Hypothesis testing in this study was conducted using the Partial Least Square (PLS) method with SmartPLS 4.0 software. Data collection was carried out through questionnaires distributed to respondents in printed form. The sample consisted of 40 employees of PT XYZ. The results of the analysis show that Work Discipline has a positive and significant effect on Employee Performance, while Work Ethics and Work Professionalism do not have a positive and significant effect on Employee Performance.
Productivity for Growth of Small and Medium Enterprises: Case of Indonesian Capital Market Ferli, Ossi; Hatyanti, Enny; Immanuella, Sara; Ataulina, Dessy; Kasman, Muh. Nurdin Nur Abdi; Kusuma, Vasanti Etenia
West Science Business and Management Vol. 3 No. 04 (2025): West Science Business and Management
Publisher : Westscience Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/wsbm.v3i04.2562

Abstract

This study aims to analyze the effect of profitability, productivity, debt, age, and company size on the growth of Small and Medium Enterprises (SMEs) listed on the Indonesia Stock Exchange (IDX) on the Acceleration Board and Development Board during the period 2021–2023. Using the panel data method and the Common Effect Model (CEM) approach, this study found that only the productivity variable has a positive and significant effect on company growth, both for SMEs listed on the Acceleration and Development Boards. Meanwhile, the profitability, debt, age, and company size variables did not show a significant effect on growth. These results emphasize the importance of operational efficiency and asset optimization compared to dependence on profits or external financing in driving SME growth. These findings are expected to be strategic input for business actors, investors, and regulators in formulating policies that support strengthening the SME sector in the capital market.
Sustainable Business Innovation in Indonesian Firms ESG Disclosure Profitability and Greenwashing Ferli, Ossi; Achsani, Noer Azam; Andati, Trias; Asikin, Zenal
Aptisi Transactions On Technopreneurship (ATT) Vol 8 No 2 (2026): July
Publisher : Pandawan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34306/att.v8i2.854

Abstract

This paper aims to investigate the relationships among ESG disclosure score and profitability. The sample consist of sustainable companies in Indonesia, based on the Sustainalytics and Bloomberg databases. Panel regression analysis was employed to test the study hypotheses. The results indicate that ESG disclosure has a negative effect on firm profitability. Specifically, environmental and governance disclosures are negatively associated with profitability. Moreover, both the combined ESG score and the Squared ESG variable exhibit a negative effect on profitability. Net sales show a positive effect on profitability across all models. In contrast, the COVID-19 period was found to reduce firm profitability. This study is limited by the number of samples due to data availability, yet it provides implications for stakeholders by offering insights into how ESG disclosure influences profitability in the long term, particularly in the context of sustainability practices within developing countries. The findings also have significant implications for policymakers, firms, and investors, as these findings offer guidance on managing ESG disclosure to support financial performance while mitigating greenwashing effects. Finally, this study raises a critical question about whether ESG compliance and standards will remain instruments for capital market stakeholders or evolve into a transformative paradigm that reshapes stakeholder behaviour. This research contributes to the growing body of literature exploring the relationship between ESG disclosure and profitability by employing a self-developed index from annual report content analysis, thus providing a localized perspective on sustainability performance. Furthermore, it complements the literature on the non-linear relationship between sustainability and profitability.
Co-Authors Adler Haymans Manurung Ahmad Adriansyah Ajeng Annisa Rahma Ajeng Rida Riyanti Alifa, Putri Riska AMALIA, ALVIEN NUR Amizza Manik Mayang Anastasia, Daniella Quinta Andriani, Meta Anggraeni, Yola Pangestu Antyo Pracoyo Ardila Ardila Ariani, Savira Indah Ariansyah, Muh Rangga Ataulina, Dessy Ayu Ochtavia Rohmah Bagasworo, Wasi Bambang Budhijana Budhijana, Bambang Budhijana, R Bambang Catur Nugrahani Daulay, Muhammad Irfan Debora Evianti Lumban Tobing Denni Samuel Rajagukguk Desi Lestari Dian Pratiwi Dian Puspitasari Dinanti, Queen Dona Ertika Shafira Efrita, Azizah Putri Enny Haryanti Erliza Noor Erric Wijaya, Erric Eva Yulianti Fadlillah, Robby Adam Fajar Hertingkir Farhanah, Hanifah Febi Saynauli Simanjuntak Fellia Elsa Garini Fitri M Jowey, Gita Hariyanti, Enny Haryanti, Enny Hatyanti, Enny Ilham Wahyu Alfajri Immanuella, Sara Insan Fajri Ibrahim Irvan Novikri Kamila, Nadya Karina Putri Destania kasman, Muh. Nurdin Nur Abdi Khairani, Zahra Kretap, Kreangkrai Kusuma, Vasanti Etenia Lavenia Permata Sari Lediana Sufina Lestariani, Ni Made Luh Ifaterani Isabrenda Kusumawardhani Muhammad Kevin Kautsar Herman Nadya Kamila Natasya, Nur Bunga Nelmida Nelmida Ni Putu Mira Virgayanti Niky Amelia Nisrina Septi Hisanah Noviyanti, Indah Salsa Nuari, Chozin Nugrahani, Catur Nur Oktaviani Nurlita Dewi Oktavia Ramadaniyah Paulina Paulina Phimnoi, Kanokwan Poppy Sandra Melly Pracoyo, Antyo Pranaja, Yuri Puteri Maharani Putra, Rama Aldian Putri Aisy Salma Putri Alysa Larasati Putri Metha Ulinka Bangun Putri, Disya Seviana Putri, Safira Ananda Rafika Adilla Rahman, Rozinur Rajagukguk, Denni Samuel Rama Aldian Putra Rasyid, Izzan Ratna Nilanjana Kurniathena Reza Satya Irawan Riyanti, Ajeng Rida Roy Sembel Santi Rimadias Setiawati, Asri Sihapanya, Kunyarat sitohang, Pebri Monica Slamet Widayanto Tiara Ayu Maharani Tinjung Desy Nursanti Trias Andati Vera Mita Nia Veterina, Isbandini Wardani, Deni Widagdo, Riedmen Gifar Yola Pangestu Anggraeni Yoshua William Zahna, Rizka Zahrotul Zahra Muthia Rahmawati Zenal Asikin Zhafira Ramadhani