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Pengaruh Inflasi, Suku Bunga, Debt to Asset Ratio (DAR), Price to Earning Ratio (PER), Quick Ratio (QR), dan Return on Asset (ROA) terhadap Return Saham Serta Tinjauannya dari Sudut Pandang Islam (Studi pada Perusahaan Industri Farmasi yang Tercatat di Bursa Efek Indonesia Periode 2019-2023) Kadafi, Fadil Muharam; Rofi’i, Muhammad; Ma’sum, Ali; Muslikh, Muslikh; Budiman, Andika Nuraga; Zusryn, Alyta Shabrina
Innovative: Journal Of Social Science Research Vol. 5 No. 2 (2025): Innovative: Journal Of Social Science Research
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/innovative.v5i2.17760

Abstract

The purpose of this research is to study how inflation, interest rates, Debt to Asset Ratio (DAR), Price to Earning Ratio (PER), Quick Ratio (QR), and Return on Assets (ROA) impact stock returns in pharmaceutical companies. listed on the Indonesia Stock Exchange during the period 2019 to 2023. This study uses panel data regression, with the research sample consisting of seven companies. This study shows that stock returns are not influenced by inflation; interest rate no, Debt to Asset Ratio (DAR) no, Price to Earning Ratio (PER) no, Quick Ratio (QR) no, and return on assets (ROA) no.
An An Investigation of Profit Growth in Indonesian Banking Before and During Pandemic Covid-19: Does Financial Performance Matter? Ashari , Ardhita Pramesti; Simon , Zainal Zawir; Nasution, Ananta Hagabean; Zusryn , Alyta Shabrina; Asaari, Masagus
Research of Business and Management Vol. 3 No. 2 (2025): AUGUST 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rbm.v3i2.296

Abstract

This study examines the influence of Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Operational Income on Operating Costs (BOPO), and Loan to Deposit Ratio (LDR) on profit growth in the Indonesian banking sector, both before and during the COVID-19 pandemic. The research employs panel data regression with a sample of 44 banking companies listed on the Indonesia Stock Exchange (IDX). The results show that before the pandemic, CAR had a positive and significant effect on profit growth, while NIM and BOPO had negative and significant effects. LDR, however, showed a negative but insignificant effect. During the COVID-19 pandemic, CAR, NIM, and BOPO were found to have negative and significant impacts on profit growth, whereas LDR also negatively affected profit growth. Simultaneous testing confirms that CAR, NIM, BOPO, and LDR significantly influence profit growth in both periods. The findings provide managerial implications for banking companies to monitor key financial ratios that affect profitability. A healthier and more stable banking industry increases public trust and supports financial system stability. For investors, the study highlights the importance of understanding these financial factors when making investment decisions in the banking sector.
Do Financial Performance and Market Value Matter? Evidence on Stock Returns in the Pharmaceutical Industry Muhammad Rofi'i; Alyta Shabrina Zusryn; Nurul Huda; Ariel Nian Gani; Muhammad Faisal; Ahmad Syarif
UPY Business and Management Journal (UMBJ) Vol. 5 No. 2 (2026): UBMJ (UPY Business and Management Journal)
Publisher : Department of Management, Universitas PGRI Yogyakarta.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31316/ubmj.v5i2.9797

Abstract

Purpose: This study investigates whether the effects of market value, profitability, leverage, and liquidity on stock returns differ across economic conditions in the Indonesian pharmaceutical industry during the pre-pandemic (2018–2019), pandemic (2020–2022), and post-pandemic recovery (2023–2024) periods. Methodology: Using a quantitative approach, panel data regression was applied to seven pharmaceutical companies listed on the Indonesia Stock Exchange. Separate estimations were conducted for each phase to capture shifts in investor behavior over time. Findings: The results show that the influence of financial fundamentals on stock returns varies across economic conditions. Market value positively affects stock returns only in the pre-pandemic period. Profitability remains a positive and significant determinant throughout all periods, indicating investors’ consistent preference for firms with strong operating performance. Leverage changes from a negative factor before the pandemic to a positive factor during and after the pandemic, suggesting that debt is viewed as a strategic resource supporting growth. Liquidity is insignificant before the pandemic but becomes positively associated with stock returns during the pandemic and recovery periods, highlighting the importance of financial flexibility under uncertainty. Implications: Managers should prioritize sustainable profitability, effective debt utilization, and liquidity management to strengthen investor confidence. Investors should evaluate financial ratios according to prevailing economic conditions, as the relevance of financial indicators changes over time. Originality: This study contributes to the literature by demonstrating that the impact of financial fundamentals on stock returns is condition-dependent rather than constant, reflecting shifts in investor valuation behavior across different economic environments.
Pendampingan UMKM Ciseeng Bogor Melalui Pelatihan Desain Grafis Berbasis Aplikasi Alyta Shabrina Zusryn; Hilma Suyana; Muhammad Rofi’i; Ariel Nian Gani
Journal of Entrepreneurship and Community Innovations Vol 4 No 2 (2026): FEBRUARI 2026
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jeci.v4i2.435

Abstract

Kegiatan Pelatihan Desain Grafis berbasis aplikasi ini dilakukan pada pelaku UMKM Desa Ciseeng, Bogor sebanyak 30 orang dengan jenis usaha pada bidang perdagangan, makanan, minuman, dan perikanan.  Pentingnya kegiatan ini disebabkan karena adanya tuntutan digitalisasi dalam hal pemasaran untuk meningkatkan ketertarikan konsumen. Pelatihan ini bertujuan untuk memperkenalkan aplikasi desain grafis yang mudah digunakan dan meningkatkan keterampilan peserta dalam membuat pemasaran konten di sosial media. Hasil kegiatan menunjukkan adanya peningkatan kemampuan desain peserta dalam merancang media promosi digital sebagai konten media sosial. Antusiasme peserta tercermin dari keterlibatan aktif dalam praktik langsung dan diskusi, yang turut mendorong terciptanya ide-ide desain inovatif. Kendala pada kegiatan yaitu antara lain keterbatasan perangkat yang dimiliki peserta dan ruangan pelatihan. Pelatihan ini tidak hanya memberikan kontribusi nyata terhadap penguatan kapasitas UMKM Desa Ciseeng, tetapi juga menjadi dasar bagi keberlanjutan program pengembangan keterampilan digital yang lebih komprehensif dan berkesinambungan.
Mediating Effect of Interest on Gen Z’s Stock Investment Decisions in Central Jakarta Dila Aprilia; Alyta Shabrina Zusryn; Siti Marhamah
Journal of Accounting, Management, and Economics Research (JAMER) Vol 5 No 2 (2027): JANUARY 2027, CONTINOUS
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jamer.v5i2.450

Abstract

The study is structured with the primary aim of investigating specific relationships and underlying patterns how understanding of investing and motivational drivers shapes stock investment choices, where interest in investing functions as an intermediary factor among Generation Z in Central Jakarta. The study respondents were 132 stock investors who had made stock purchases and were participants were determined using a criterion-based selection approach. By utilizing the PLS-SEM analytical technique, the study revealed positive effects of investment knowledge and investment motive on stock investment behavior among individuals. Moreover, it was also observed that both variables played an enhancing role in increasing investment interest. It was confirmed that investment interest serves as an intermediary linking knowledge of investment and investment motivation on stock investment decisions. These findings indicate that increasing investment knowledge and motivation can encourage higher investment interest, which has an impact on stock investment decision-making. Appropriate investment knowledge and motivation shape interest as a form of intention, which in turn encourages the birth of more rational and considered stock investment decisions.
Pengaruh Penerapan Green Accounting, Kinerja Lingkungan dan Corporate Social Responsibility (CSR) terhadap Profitabilitas dengan Ukuran Perusahaan sebagai Moderasi Siti Nur Aliza; Ananta Hagabean; Alyta Shabrina Zusryn
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 2 (2026): Mei-Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i2.10083

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Green Accounting, Kinerja Lingkungan, dan Corporate Social Responsibility (CSR) terhadap Profitabilitas dengan Ukuran Perusahaan sebagai variabel moderasi pada perusahaan manufaktur sektor consumer goods yang terdaftar di Bursa Efek Indonesia periode 2019–2024. Penelitian ini dilatarbelakangi oleh meningkatnya perhatian terhadap praktik bisnis berkelanjutan yang menuntut perusahaan tidak hanya berorientasi pada keuntungan ekonomi, tetapi juga memperhatikan aspek lingkungan dan sosial. Metode penelitian yang digunakan adalah metode kuantitatif dengan memanfaatkan data sekunder yang diperoleh dari laporan tahunan dan laporan keberlanjutan perusahaan. Teknik pengambilan sampel menggunakan purposive sampling sehingga diperoleh 15 perusahaan yang memenuhi kriteria penelitian. Analisis data dilakukan menggunakan regresi data panel dengan bantuan aplikasi EViews 12 untuk menguji hubungan antarvariabel serta peran moderasi ukuran perusahaan. Hasil penelitian menunjukkan bahwa green accounting berpengaruh negatif dan signifikan terhadap profitabilitas, yang mengindikasikan bahwa biaya yang dikeluarkan perusahaan untuk aktivitas lingkungan dalam jangka pendek dapat menekan tingkat keuntungan. Kinerja lingkungan terbukti berpengaruh positif dan signifikan terhadap profitabilitas, menunjukkan bahwa pengelolaan lingkungan yang baik mampu meningkatkan nilai perusahaan dan kepercayaan pemangku kepentingan. Sementara itu, CSR tidak berpengaruh signifikan terhadap profitabilitas. Selain itu, ukuran perusahaan tidak mampu memoderasi pengaruh green accounting, kinerja lingkungan, maupun CSR terhadap profitabilitas. Dalam perspektif Islam, penerapan green accounting, kinerja lingkungan, CSR, dan pencapaian profitabilitas sejalan dengan prinsip tanggung jawab, keadilan, dan keberlanjutan sebagaimana diajarkan dalam Al-Qur’an dan Hadis.