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Analyzing the Impact of Islamic Literacy, Technology, and Experience on MSME Performance: The Role of Spirituality as a Moderating Variable Widyakto, Adhi; Souisa, Johanis; Kusumawati, Citra Andriani; Widyarti, Endang Tri
Jurnal Manajemen Bisnis Vol 15, No 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19859

Research Aims: This study aims to explore the influence of Islamic financial literacy, Islamic fintech, and financial experience on the performance of Micro, Small, and Medium Enterprises (MSMEs), considering spirituality as a potential moderating variable.Design/Methodology/Approach: Employing a sample of 126 MSME owners in Semarang, this research utilizes Hair’s model of calculations. The analytical method applied is multiple regression analysis using the third version of the SmartPLS software.Research Findings: The findings indicate that Islamic financial literacy, Islamic financial technology, and financial experience have a positive and significant impact on MSME performance. However, spirituality did not significantly moderate the relationship between Islamic financial literacy, Islamic fintech, and financial experience on MSME performance.Theoretical Contribution/Originality: This study contributes to the resource-based view theory by examining how a firm’s capabilities and internal resources, conceptualized as a bundle of resources and capabilities, interact with external spiritual values to influence MSME performance. It also addresses the role of internal resources in fostering competition within firms to achieve their goals.

ANALYSIS OF FACTORS OF COMPANY VALUE (CASE STUDY ON MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2017-2020) Widyakto, Adhi; Suhardjo, Yohanes; Rachmawati, Windasari
Jurnal RAK (Riset Akuntansi Keuangan) Vol. 7 No. 2 (2022): October 2022
Publisher : Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rak.v7i2.429

This research aims to test the influence of profitability, liquidity, leverage on Price Book Value. in manufacturing companies listed on the Indonesia Stock Exchange in 2017 and 2020. This type of research is quantitative. The population in this study 284 is a manufacturing company listed on the Indonesia Stock Exchange in 2017 and 2020. The samples in this study used purposive sampling methods and were obtained by 200 manifacturing companies that fit the predetermined criteria. The data analysis technique used is multiple regression analysis with the SPSS 24.0 program. The results showed that the variable Return On Equity, Current Ratio, Debt Equity Ratio, Sales Growth had a Significant Positive Effect on PBV studies in Manufacturing Companies in 2017-2020.

The Role of ROA in Mediating DER, Current Ratio, and TATO on Firm Value Widyakto, Adhi; Pradiptya, Adhi; Andriani Kusumawati, Citra; Fresiliasari, Oktavie
Jurnal Penelitian Ekonomi dan Bisnis Vol. 9 No. 2 (2024): September 2024
Publisher : Universitas Dian Nuswantoro Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33633/jpeb.v9i2.11086

Abstract______________________________________________________This research aims to obtain empirical evidence on the effect of debt equity ratio, current ratio and toral asset turnover on firm value through return on assets. This research was quantitative one with its secondary data obtained from annual financial statements published by companies. Its population included food and beverage companies registered in the Indonesian Stock Exchange in 2017-2022. samples were taken using purposive sampling where 52 companies were obtained. The collected data were then processed using e-views program. Debt equity ratio had no effect on return on assets. Current ratio negatively and significantly affected return on asset. Total Asset Turnover positively and significantly affected return on asset. Debt Equity Ratio negatively and affected considerably price to book value. Current Ratio did not affect price to book value. Both total asset turnover and return on assets positively and significantly affected price to book value. Debt equity ratio affected price to book value via return on assets. Current ratio and total asset turnover had no effect on price to book value via return on asset. Sales growth and total asset turnover had no effect on price to book value via the intervening variable, i.e., return on assets. For this reason, future researchers are recommended to add more variables presumably capable of serving as an intervening variable such as return on equity. Since the samples used only included Food and Beverages companies registered in IDX 2017-2022, future research is suggested to expand the samples to allow them to capture the effects of variables that they will study. This research made some contribution to financial management literature. The research showed different findings from the previous one, allowing them to be used as something new regarding the factors affecting profitability and firm value. The research found that total asset turnover and return on assets positively and significantly affected price to book value. Therefore, it is important for managers to pay closer attention to it to increase their firm values. debt equity ratio, current ratio, total asset turnover, return on assets, price to book value. Keywords debt equity ratio, current ratio, total asset turnover, return on asset, price to book value

Analyzing the Impact of Islamic Literacy, Technology, and Experience on MSME Performance: The Role of Spirituality as a Moderating Variable Widyakto, Adhi; Souisa, Johanis; Kusumawati, Citra Andriani; Widyarti, Endang Tri
Jurnal Manajemen Bisnis Vol. 15 No. 1: March 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/mb.v15i1.19859

Research Aims: This study aims to explore the influence of Islamic financial literacy, Islamic fintech, and financial experience on the performance of Micro, Small, and Medium Enterprises (MSMEs), considering spirituality as a potential moderating variable.Design/Methodology/Approach: Employing a sample of 126 MSME owners in Semarang, this research utilizes Hair’s model of calculations. The analytical method applied is multiple regression analysis using the third version of the SmartPLS software.Research Findings: The findings indicate that Islamic financial literacy, Islamic financial technology, and financial experience have a positive and significant impact on MSME performance. However, spirituality did not significantly moderate the relationship between Islamic financial literacy, Islamic fintech, and financial experience on MSME performance.Theoretical Contribution/Originality: This study contributes to the resource-based view theory by examining how a firm’s capabilities and internal resources, conceptualized as a bundle of resources and capabilities, interact with external spiritual values to influence MSME performance. It also addresses the role of internal resources in fostering competition within firms to achieve their goals.

PERAN PROFITABILITAS DALAM MEMEDIASI KEBIJAKAN DIVIDEN DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN Riyanto, Sugeng; Widyakto, Adhi; Fresiliasari, Oktavie; Cahyani, Anna
Jurnal Ekonomi dan Bisnis Vol. 27 No. 2 (2024): JURNAL EKONOMI DAN BISNIS SEPTEMBER 2024
Publisher : Fakultas Ekonomi dan Bisnis Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/jebi.v27i2.4759

Business competition in Indonesia is increasing from year to year, with the increasing number of companies. This will affect competitive and tight competition, competition between investors or consumers. With an increase in investors, it can increase the value of the company seen from the level of debt, profit level, and company size. Thus, it can generate competitive profits for the company. This study aims to examine the effect of Price to Book Value, Leverage and Dividend Policy on Firm Value with Profitability as an intervening variable. Profitability as an intervening variable listed on the Indonesia Stock Exchange for the period 2018-2022. Indonesia Stock Exchange for the period 2018-2022. This research was conducted by means of purposive sampling with certain criteria. So that the data used as many as 72 Infrastructure companies as a research method. Sample The sample used was 5 periods, so the final sample in this study was 60observations and using data analysis using the SmartPLS application tool SmartPLS application. The results of this study prove that the Debt Equit Ratio has no effect on Price Book Value. effect on Price Book Value, Debt Equit Ratio has a significant positive effect on Return on Equity significant positive effect on Return on Equity, Dividend Payout Ratio has no effect on Price Book Value has no effect on Price Book Value, Dividend Payout Ratio has a significant positive effect on Return on Equity. significant positive effect on Return on Equity, Return on Equity has a significant positive effect on Price Book Value, and the Debt Equity Ratio variable has a significant positive effect on Return on Equity variable has a significant positive effect on Return on Equity and Price Book Value as intervening Book Value as intervening. While the Dividend Payout Ratio has significant positive effect on Return On Equity and Price Book Value as intervening as intervening

PERAN PROFITABILITAS DALAM MEMEDIASI MODAL KERJA DAN AKTIVITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN REAL ESTATE Fresiliasari, Oktavie; Widyakto, Adhi; Pradiptya, Adhi
JURNAL ILMIAH EDUNOMIKA Vol 8, No 4 (2024): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jie.v8i4.14341

Property and Real Estate is one of the service company sub-sectors listed as a public company in the Property, Real Estate and construction sectors on the Indonesia Stock Exchange (BEI). Property and real estate are still among the main choices for investors when investing funds. This is because shares of companies in the Property and Real Estate sector still offer potential for increases. The Property and Real Estate sector is one of the sectors that makes a fairly good contribution to economic growth in Indonesia. This research aims to describe and analyze the role of profitability in mediating working capital and activities on company value in real estate companies listed on the BEI in 2019-2022. This research variable uses independent variables, dependent variables and intervening variables. The object of this research is the financial reports of real estate companies listed on the IDX. The type of data used is quantitative data. The data source was obtained from secondary data through intermediaries or indirectly, namely data from real estate company financial reports for the 2018-2022 period. The data collection method uses library research. The analysis technique is descriptive analysis and smart PLS analysis. The data measurement method uses validity tests and reliability tests. Test the structural model using the coefficient of determination. Hypothesis testing uses structural equation modeling analysis with the smartPLS 3.0 program. Measurement model with devaluation reflection indicators with convergent and discriminant validity. The results of this research prove that Working capital (CR) has a significant positive effect on Profitability (ROA), activity (TATO) Has a positive effect on Profitability Policy (ROA), Working capital (CR) has no effect on company value (PBV), Working capital ( TATO) has a significant positive effect on company value (PBV), profitability (ROA) has a significant positive effect on company value (PBV), profitability (ROA) is able to mediate the effect of working capital (CR) on company value (PBV).

Increase In Company Value Based On Investment Decisions, Company Size, And Sustainability Debt With Profitability As Mediation Variables Hani’ah, Khoiriana Nur; Widyakto, Adhi; Fresiliasari, Oktavie
Finavest: Jurnal Ilmiah Ilmu Keuangan Vol 2 No 1 (2025): Finavest: Jurnal Ilmiah Ilmu Keuangan
Publisher : Sapta Arga Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar

This study aims to determine the influence of investment decisions, company size, and debt policy on company value with profitability as a mediating variable for publicly listed manufacturing companies on the Indonesia Stock Exchange (IDX) for the period 2019-2023. The data source for this research was obtained from annual financial reports and BEI statistics. The research population consisted of 458 manufacturing companies, and by using purposive sampling techniques, a sample of 113 companies was selected. Data analysis was conducted using the SmartPLS tool. The results of this study prove that the Price Earning Ratio (PER) has a significantly positive effect on profitability, Size has a significantly positive effect on profitability, the Debt to Equity Ratio (DER) has a significantly positive effect on profitability, the Price Earning Ratio (PER) has a significantly positive effect on Price to Book Value (PBV), Size has a significantly positive effect on Price to Book Value (PBV), DER has a significantly positive effect on Price to Book Value (PBV), Return on Equity (ROE) has a significantly positive effect on Price to Book Value (PBV), the Price Earning Ratio (PER) has a significantly positive effect on Price to Book Value (PBV) and Return on Equity (ROE) as an intervening variable, Size does not have an effect on Price to Book Value (PBV) and Return on Equity (ROE) as an intervening variable, and the Debt to Equity Ratio (DER) has a significantly positive effect on Price to Book Value (PBV) and Return on Equity (ROE) as an intervening variable.

Peningkatan Nilai Perusahaan Berbasis Profitabilitas dan Modal Kerja dengan Struktur Modal Sebagai Variabel Mediasi Widyakto, Adhi; Riyanto, Sugeng; Fresiliasari, Oktavie; Rohman, Nur
Jurnal Ekonomi dan Bisnis Vol. 28 No. 1 (2025): JURNAL EKONOMI DAN BISNIS MARET 2025
Publisher : Fakultas Ekonomi dan Bisnis Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/jebi.v28i1.5734

This study aims to test the effect of Return On Equity and Current Ratio on Company Value with capital structure as an intervening variable in coal mining companies listed on the Indonesia Stock Exchange for the period 2019-2023. This study was conducted by purposive sampling with certain criteria, so 36 coal mining companies were used as a research method. The sample used was 5 periods, so the final sample in this study was 180 observations. Data analysis was used using the SmartPLS application tool. The results of this study prove that Return On Equity has a significant positive effect on the equity Ratio, Current Ratio has a significant positive effect on the equity Ratio, Return On Equity has a positive and significant effect on Price Book Value, Current Ratio has a positive and insignificant effect on Price to Book Value, Debt Equity Ratio has a significant positive effect on Price Book Value, and the Return On Equity variable has a significant positive effect on Price to Book Value with Debt Equity Ratio as an intervening variable and Current Ratio has a significant positive effect on Price to Book Value with Debt Equity Ratio as an intervening variable

Optimization of E-Learning with Adaptive AI for Inclusive Education: Optimalisasi E-Learning dengan AI Adaptif untuk Pendidikan Inklusif Parn, Liina; Mariyanti, Tatik; Widyakto, Adhi
Jurnal MENTARI: Manajemen, Pendidikan dan Teknologi Informasi Vol 3 No 2 (2025): March
Publisher : Pandawan Sejahtera Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33050/mentari.v3i2.768

Kemajuan teknologi telah mendorong pertumbuhan platform E-Learning, menjanjikan pembelajaran inklusif dan aksesibel bagi berbagai demografi. Namun, tantangan tetap ada dalam memastikan kualitas konten, interaktivitas, dan pengalaman pengguna, terutama terkait kesiapan teknologi yang bervariasi. Penelitian ini bertujuan mengoptimalkan platform E-Learning dengan teknologi AI adaptif untuk meningkatkan aksesibilitas dan inklusivitas. Metode SEM digunakan dengan data yang dikumpulkan menggunakan SmartPLS, melibatkan 350 responden dari pelajar dan pendidik. Variabel yang dianalisis mencakup Kualitas Konten, Interaktivitas, Pengalaman Pengguna, Kesiapan Teknologi, dan Teknologi Pembelajaran Adaptif sebagai faktor moderasi. Hasil penelitian menunjukkan dampak positif signifikan dari Kualitas Konten dan Interaktivitas terhadap Pengalaman Pengguna, dengan Kesiapan Teknologi sebagai faktor kunci. Teknologi Pembelajaran Adaptif terbukti efektif dalam memoderasi hubungan antar variabel, meningkatkan pengalaman belajar. Temuan ini menegaskan pentingnya integrasi teknologi adaptif untuk memenuhi kebutuhan pengguna yang beragam dan meningkatkan hasil pendidikan. Penelitian ini memberikan kontribusi pada literatur pendidikan digital dan wawasan praktis bagi pendidik, pengembang, dan pembuat kebijakan.

Increasing Company Value Through Financial Policies and Performance of Manufacturing Companies Listed on The Indonesia Stock Exchange Widyakto, Adhi; Widyarti, Endang Tri; Suryawardana, Edy
At-Taqaddum Vol. 13 No. 1 (2021)
Publisher : Quality Assurance Institute (LPM) State Islamic University Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/at.v13i1.8281

The phenomenon that there are still many manufacturing industry companies on the Indonesia Stock Exchange that have a PBV smaller than one is the main basis for conducting the study. This study aims to analyze the effect of financial policy and financial performance on firm value. The sampling technique was based on purposive sampling. The data analysis technique used a linear regression model. Based on the analysis and discussion results, there are four main findings obtained from this study: First, the model used is significant to explain changes in firm value with the ability to explain 48.7 percent. Second, of the five independent variables, there are three variables: the policy in working capital management and the performance variable, namely the volatility of expectations and returns, which have a significant effect. To the value of the company. Third, the company's financial performance factors have a more dominant influence on the company's value dynamics than policy factors. Fourth, the direction coefficient of the influence of the independent variable on the dependent variable, although the two variables are not significant. The practical implication is to increase the value of a manufacturing company. Therefore, it is advisable to consider financial policies and financial performance. Theoretically, financial management based on signal theory and trade-off theory of Islamic perspective theory can increase firm value.

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