Articles
<![CDATA[The Role of Financial Literacy in Improving Financial Inclusion Through The Use of E-Wallets Among Generation Z in Cirebon ]]>
<![CDATA[Nadia Sylviani]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ Greenation International Journal of Tourism and Management Vol. 4 No. 1 (2026): (GIJTM) Greenation International Journal of Tourism and Management (March - May ]]>
Publisher : <![CDATA[Greenation Research & Yayasan Global Resarch National ]]>
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DOI: 10.38035/gijtm.v4i1.779
<![CDATA[This study is motivated by the limited number of studies examining the role of e-wallets as a mediator between financial literacy and financial inclusion, particularly among Generation Z in Indonesia. The purpose of this study is to analyze the influence of financial literacy on improving financial inclusion through the use of e-wallets among Generation Z in the city of Cirebon. This associative quantitative research uses primary data collected through an online questionnaire distributed to 150 Generation Z respondents (aged 15–29 years) in Cirebon who have used e-wallet services. Data analysis using Partial Least Squares Structural Equation Modeling (PLS-SEM) indicates that financial literacy has a positive and significant direct effect on financial inclusion, as well as an indirect effect through increased use of e-wallets. These findings demonstrate that e-wallets function as an effective mediating variable, indicating that strengthening financial literacy can encourage the adoption of digital financial services and ultimately expand financial inclusion among the younger generation.]]>
<![CDATA[The Impact of Corporate Governance (CGPI) and Investment Efficiency on Firm Value ]]>
<![CDATA[Mukminawati, Geovivo Ahsanti]]>;
<![CDATA[Purdianto, Ario]]>
<![CDATA[ Journal of Governance, Taxation and Auditing Vol. 4 No. 4 (2026): Journal of Governance, Taxation and Auditing (April - June 2026)-In Progress ]]>
Publisher : <![CDATA[PT Keberlanjutan Strategis Indonesia ]]>
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DOI: 10.38142/jogta.v4i4.1937
<![CDATA[Corporate governance and investment effectiveness's effects on a company's worth are the focus of this study. To measure the effectiveness of investments, one looks at the ROA, whereas the Corporate Governance Perception Index (CGPI) depicts corporate governance. The PBV ratio is a useful tool for assessing a company's worth. Businesses that are part of the CGPI and listed on IDX from 2021 to 2024 make up the study population. A total of 34 observational data points were obtained from the sample, which was selected using a purposive sampling strategy. This experiment makes use of SPSS software to construct multiple linear regression. A favourable but statistically negligible influence of corporate governance on business value was found, according to the data. On the other hand, corporate value is significantly and positively impacted by investment efficiency. Corporate governance and investment efficacy have a substantial impact on the value of the firm when considered collectively. CGPI and ROA variables account for approximately 14.7% of the fluctuations in firm value, as indicated by the adjusted R-squared value of 0.147. The remaining variance is likely driven by external elements outside the scope of this model, including macroeconomic trends, market volatility, and industry competition. These results suggest that investors prioritize a firm profitability in their evaluations, and the market has not yet fully acknowledged the benefits of robust governance practices on firm value. Therefore, this research recommends that businesses enhance their governance practices and optimize asset management efficiency to foster sustainable firm value.]]>
<![CDATA[The Role of Social Capital in Mediating the Influence of Financial Technology, Financial Literacy, on Students' Financial Inclusion ]]>
<![CDATA[Rima Patricia]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management ]]>
Publisher : <![CDATA[Universitas KH. Abdul Chalim Mojokerto ]]>
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DOI: 10.31538/mjifm.v6i2.966
<![CDATA[This study was conducted to examine the influence of financial technology and financial literacy on the level of financial inclusion of students by involving social capital as an intervening variable. The study used a quantitative approach with a survey method. The study population was students of Swadaya Gunung Jati University, while the sample was determined through a purposive sampling technique. Data were collected using questionnaires distributed throughout the study period. Analysis of the relationship between variables was conducted using the Structural Equation Modeling–Partial Least Square (SEM-PLS) method using SmartPLS software. The results showed that financial technology plays a significant role in increasing student financial inclusion. Conversely, financial literacy did not show a significant direct effect on financial inclusion. However, financial literacy was shown to have a significant effect on social capital, while financial technology did not significantly influence social capital. Furthermore, social capital did not have a significant effect on financial inclusion and was unable to mediate the effects of financial technology or financial literacy on financial inclusion. This study recommends that increasing student financial inclusion be focused on strengthening accessible and secure digital financial services, supported by ongoing efforts to improve financial literacy.]]>
<![CDATA[The Effect of Financial Performance and ESG Disclosure on Firm Value: Evidence from IDX Score Firms in 2024 ]]>
<![CDATA[Nabil Maulana]]>;
<![CDATA[Ario Purdianto]]>;
<![CDATA[Benny Dhevyanto]]>
<![CDATA[ Indonesian Journal Economic Review (IJER) Vol. 6 No. 2 (2026): June ]]>
Publisher : <![CDATA[Divisi Riset, Lembaga Mitra Solusi Teknologi Informasi (L-MSTI) ]]>
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DOI: 10.59431/ijer.v6i2.806
<![CDATA[This study examines the influence of financial performance and ESG disclosure on firm value for companies listed on the Indonesian Stock Exchange (IDX) that are included in the IDX ESG Score index for the year 2024. Financial performance is indicated by Return on Assets (ROA), firm value is quantified using Tobin's Q, and ESG disclosure is denoted by the ESG score released by IDX. Grounded in agency theory, stakeholder theory, and signaling theory, the study utilises a quantitative associative methodology, drawing on secondary data from annual reports and sustainability reports. A purposive sampling method produced a final sample of 58 companies. Multiple linear regression analysis was applied following classical assumption tests. The findings demonstrate that ROA significantly enhances firm value, whereas ESG disclosure exhibits a favourable albeit statistically minor impact on tobin’s Q. Simultaneously, both variables significantly influence firm value, with an Adjusted R-squared of 13.7%, suggesting that additional factors beyond the model explain the majority of firm value variation. These studies confirm that in the Indonesian capital market, financial performance remains the primary signal for investors, while ESG disclosure functions as a supporting signal not yet fully priced by the market.]]>
<![CDATA[The Role of Social Capital in Mediating the Influence of Financial Technology, Financial Literacy, on Students' Financial Inclusion ]]>
<![CDATA[Rima Patricia]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management ]]>
Publisher : <![CDATA[Universitas KH. Abdul Chalim Mojokerto ]]>
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DOI: 10.31538/mjifm.v6i2.966
<![CDATA[This study was conducted to examine the influence of financial technology and financial literacy on the level of financial inclusion of students by involving social capital as an intervening variable. The study used a quantitative approach with a survey method. The study population was students of Swadaya Gunung Jati University, while the sample was determined through a purposive sampling technique. Data were collected using questionnaires distributed throughout the study period. Analysis of the relationship between variables was conducted using the Structural Equation Modeling–Partial Least Square (SEM-PLS) method using SmartPLS software. The results showed that financial technology plays a significant role in increasing student financial inclusion. Conversely, financial literacy did not show a significant direct effect on financial inclusion. However, financial literacy was shown to have a significant effect on social capital, while financial technology did not significantly influence social capital. Furthermore, social capital did not have a significant effect on financial inclusion and was unable to mediate the effects of financial technology or financial literacy on financial inclusion. This study recommends that increasing student financial inclusion be focused on strengthening accessible and secure digital financial services, supported by ongoing efforts to improve financial literacy.]]>
<![CDATA[Financial Sustainability Analysis of PT Fast Food Indonesia TBK Year (2020-2024): An Integrated Approach of Profitability, Solvency, and Operating Cash Flow ]]>
<![CDATA[Soleha Soleha]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ Interdisciplinary Social Studies Vol. 5 No. 3 (2026): Interdisciplinary Social Studies ]]>
Publisher : <![CDATA[International Journal Labs ]]>
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DOI: 10.55324/iss.v5i3.1075
<![CDATA[Background: Global economic uncertainty, particularly following the COVID-19 pandemic, has intensified pressure on corporate financial resilience. The fast food industry in Indonesia, represented by PT Fast Food Indonesia Tbk (FAST), has faced significant challenges marked by declining profitability and increasing leverage. A comprehensive assessment of financial sustainability requires an integrated approach beyond single financial indicators. Objective: This research aims to analyse the financial sustainability of PT Fast Food Indonesia Tbk during the period 2020–2024 by integrating aspects of profitability, solvency, and operating cash flow into the Financial Sustainability Index (FSI). Method: This research uses a quantitative, descriptive approach based on time-series analysis of annual financial report data published by the Indonesia Stock Exchange. The analysis was conducted by calculating financial ratios, normalising them using the Min–Max technique, and weighting them by theoretical relevance to produce the Financial Sustainability Index. Result: The results of the analysis show that the financial sustainability of companies was relatively stable in the early post-pandemic recovery period but declined significantly at the end of the study period, reflecting an increase in corporate financial risk. Conclusion: These findings have practical implications for management in evaluating funding structures and improving operational efficiency to strengthen corporate financial sustainability.]]>
<![CDATA[The Impact of Corporate Governance (CGPI) and Investment Efficiency on Firm Value ]]>
<![CDATA[Geovivo Ahsanti Mukminawati]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ Journal of Governance, Taxation and Auditing Vol. 4 No. 4 (2026): Journal of Governance, Taxation and Auditing (April - June 2026) ]]>
Publisher : <![CDATA[PT Keberlanjutan Strategis Indonesia ]]>
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DOI: 10.38142/jogta.v4i4.1937
<![CDATA[Corporate governance and investment effectiveness's effects on a company's worth are the focus of this study. To measure the effectiveness of investments, one looks at the ROA, whereas the Corporate Governance Perception Index (CGPI) depicts corporate governance. The PBV ratio is a useful tool for assessing a company's worth. Businesses that are part of the CGPI and listed on IDX from 2021 to 2024 make up the study population. A total of 34 observational data points were obtained from the sample, which was selected using a purposive sampling strategy. This experiment makes use of SPSS software to construct multiple linear regression. A favourable but statistically negligible influence of corporate governance on business value was found, according to the data. On the other hand, corporate value is significantly and positively impacted by investment efficiency. Corporate governance and investment efficacy have a substantial impact on the value of the firm when considered collectively. CGPI and ROA variables account for approximately 14.7% of the fluctuations in firm value, as indicated by the adjusted R-squared value of 0.147. The remaining variance is likely driven by external elements outside the scope of this model, including macroeconomic trends, market volatility, and industry competition. These results suggest that investors prioritize a firm profitability in their evaluations, and the market has not yet fully acknowledged the benefits of robust governance practices on firm value. Therefore, this research recommends that businesses enhance their governance practices and optimize asset management efficiency to foster sustainable firm value.]]>
<![CDATA[Pengaruh Literasi Keuangan dan Gaya Hidup Konsumtif terhadap Perilaku Pengelolaan Keuangan Mahasiswa ]]>
<![CDATA[Rifkhotul Maula]]>;
<![CDATA[Ario Purdianto]]>
<![CDATA[ EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 5 No. 5: Juli 2026 ]]>
Publisher : <![CDATA[CV. Ulil Albab Corp ]]>
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DOI: 10.56799/ekoma.v5i5.17182
<![CDATA[Penelitian ini bertujuan untuk menganalisis pengaruh literasi keuangan dan gaya hidup konsumtif terhadap perilaku pengelolaan keuangan pada mahasiswa Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Swadaya Gunung Jati (UGJ). Fenomena menunjukkan bahwa meskipun akses layanan keuangan digital meningkat, perilaku keuangan yang sehat belum sepenuhnya terbentuk di kalangan mahasiswa. Penelitian ini menggunakan pendekatan kuantitatif dengan desain asosiatif. Data dikumpulkan melalui kuesioner dari 355 responden mahasiswa FEB UGJ. Pengumpulan data dilakukan melalui kuesioner dengan skala Likert 1–5 dan dianalisis menggunakan regresi linear berganda dengan bantuan perangkat lunak SPSS versi 26. Hasil penelitian menunjukkan bahwa literasi keuangan berpengaruh signifikan terhadap perilaku pengelolaan keuangan mahasiswa. Sebaliknya, gaya hidup konsumtif juga berpengaruh signifikan terhadap perilaku pengelolaan keuangan. Secara simultan, literasi keuangan dan gaya hidup konsumtif terbukti berpengaruh signifikan terhadap perilaku pengelolaan keuangan mahasiswa. Temuan ini mengindikasikan bahwa kemampuan pengelolaan keuangan mahasiswa tidak hanya dipengaruhi oleh tingkat pemahaman keuangan, tetapi juga oleh pola konsumsi yang dijalani dalam kehidupan sehari-hari. Implikasi penelitian ini menegaskan pentingnya peningkatan literasi keuangan serta pengendalian gaya hidup konsumtif di kalangan mahasiswa agar perilaku pengelolaan keuangan dapat terbentuk secara lebih rasional, terencana, dan berkelanjutan.]]>
<![CDATA[THE INFLUENCE OF NET PROFIT MARGIN AND EARNING PER SHARE ON STOCK PRICES IN VARIOUS INDUSTRIAL SECTOR COMPANIES LISTED ON THE IDX FOR THE 2015-2019 PERIOD ]]>
<![CDATA[Ario Purdianto]]>;
<![CDATA[Nurhana Dhea Parlina]]>;
<![CDATA[Dini Apriliani]]>
<![CDATA[ JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 2 No. 1 (2022): DECEMBER ]]>
Publisher : <![CDATA[Transpublika Publisher ]]>
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DOI: 10.55047/marginal.v2i1.390
<![CDATA[This research aims to evaluate the impact of Net Profit Margin and Earnings Per Share on the stock prices of IDX-listed manufacturing businesses from 2015 to 2019. The adopted technique of research is quantitative research. This research utilizes net profit margin and profits per share as independent variables. The stock price serves as the dependent variable. The sample for this research consisted of 21 manufacturing companies that were listed on the Indonesia Stock Exchange between 2015-2019 and were chosen using the technique of purposive selection based on certain criteria. The method employed in this research is an SPSS-based multiple linear regression analysis. The t test revealed that the NPM and EPS variables had a positive and statistically significant effect on stock prices. If Net Profit Margin (NPM) increases in value, so does the share price, resulting in a rise in stock prices. Therefore, it can be extrapolated that investors must enhance their ability to comprehend the information provided by the company in annual reports and financial reports. Permits investors to assess the factors that may affect the growth in a company's stock price, the level of risk, and the resulting rate of return. Before investing money, investors might make better decisions if they are well-informed.]]>
<![CDATA[PERAN KEPROFITAN DALAM MEMEDIASI PENGARUH LEVERAGE TERHADAP NILAI PERUSAHAAN: BUKTI DARI INDUSTRI PERBANKAN INDONESIA ]]>
<![CDATA[Nurul Fitriyani Pratiwi]]>;
<![CDATA[Ario Purdianto]]>;
<![CDATA[Agustina Agustina]]>
<![CDATA[ Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 2 (2026): Sharia Economics ]]>
Publisher : <![CDATA[Universitas KH. Abdul Chalim Mojokerto ]]>
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DOI: 10.31538/iijse.v9i2.9987
<![CDATA[This study seeks to analyze the correlation between leverage and company value with profitability serving as an intermediary mechanism in banking companies listed on the Indonesia Stock Exchange over the observation period of 2022–2024. This research employed a quantitative methodology, utilizing path analysis and mediation assessment using the Sobel test. The study sample included 26 conventional commercial banks selected based on specific criteria through purposive sampling. Empirical findings in this study indicate that company value is not directly influenced by leverage, while an increase in leverage is statistically proven to decrease a company's profitability. Furthermore, profitability levels were discovered to have a significant and beneficial relationship with company value, while also serving as an intermediary variable that facilitates the impact of leverage on company value. These results verify that the influence of leverage on company value is indirect, as it operates through profitability, which serves as a channeling mechanism in this relationship.]]>
