Malau, Leo Rio Ependi
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FACTORS AFFECTING THE FINANCIAL PERFOMANCE OF AGRICULTURAL COMPANY’S: EVIDENCE FROM THE INDONESIA STOCK EXCHANGE Intan, Dian Retno; Malau, Leo Rio Ependi; Rambe, Khoiru Rizqy; Damanik, Mario
Agrisocionomics: Jurnal Sosial Ekonomi Pertanian Vol 8, No 2 (2024): June 2024
Publisher : Faculty of Animal and Agricultural Science, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/agrisocionomics.v8i2.18578

Abstract

The Indonesian economy is primarily based on the agriculture sector, even growing when other sectors are down. This role is supported by the existence of agricultural companies that run businesses with profit-oriented goals. The company's ability to generate profits reflects the company's financial performance and is influenced by various factors. Using panel data for the years 2015–2021 from 17 agricultural companies listed on the Indonesia Stock Exchange (IDX), this study aims to determine the influence of internal and external factors on the financial performance of agricultural companies in Indonesia. The results of static panel data regression found that the company's growth and the dummy of the Covid-19 pandemic had a positive and significant effect on the company's financial performance which was proxied through the profitability ratio (ROA). Debt asset ratio (DAR), COGS/sales, and exchange rate have a negative and significant effect on ROA. In general, these results confirm the pecking-order theory in the relationship between ROA and DAR, as well as the ability of agricultural companies in Indonesia to survive in the conditions of the Covid-19 pandemic. The implication for improving the performance of agricultural companies in Indonesia is that companies must be able to reduce the percentage of production costs (COGS/sales) and implement an optimal capital structure mix. Companies are also required to carry out good risk management to anticipate exchange rate fluctuations.
UNLEASHING THE POTENTIAL OF THE INDONESIAN TIMBER LEGALITY ASSURANCE SYSTEM FOR LEGALITY ASSURANCE, PERFORMANCE, AND GLOBAL COMPETITIVENESS Khaliqi, Muhammad; Wibowo, Rulianda Purnomo; Novianti, Tanti; Malau, Leo Rio Ependi; R. Rambe, Khoiru
Indonesian Journal of Forestry Research Vol. 12 No. 2 (2025): Indonesian Journal of Forestry Research
Publisher : Association of Indonesian Forestry and Environment Researchers and Technicians

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59465/ijfr.2025.12.2.287-297

Abstract

Indonesia has responded to the timber certification obligation imposed by importing countries, particularly the European Union, by implementing the Indonesian Timber Legality Assurance System (Sistem Verifikasi Legalitas Kayu-SVLK). This study aimed to evaluate the impact of the SVLK policy on the state of the Indonesian forestry industry and the performance of Indonesian wood goods, mostly plywood, in the international market. Secondary data on Indonesian wood product exports, classified under HS Code 4412, were utilized in this investigation. The analysis revealed that comparative advantage (RCA) analysis was used to assess the competitiveness of Indonesian wood products, while panel data analysis was utilized to assess the impact of the SVLK policy on Indonesian wood export performance. The implementation of SVLK enhanced the value of Indonesian plywood exports; however, the increase was still relatively small compared to other major exporting countries. According to the estimation results, the use of SVLK had a positive impact on the Indonesian plywood trade in the international market. However, Indonesia's ability to increase its market share was still critical so that the Indonesian plywood industry could maximize the potential for expansion in demand for plywood.