Article Per Year (5 Year)
p-Index From 2020 - 2025
1.235
P-Index
This Author published in this journals
All Journal Academy of Education Journal Journal of Accounting Auditing and Business Jurnal Ekonomi dan Bisnis Terapan Jurnal AbdiMas Nusa Mandiri Jurnal Abdi Masyarakat Indonesia
Cempaka, Adisti Gilang
Unknown Affiliation
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Mathematics Physics Public Health Social Sciences Other

Published : 8 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 3 Documents
Search
Journal : Journal of Accounting Auditing and Business

 1 
Factors Influencing Turnaround Success in Financially Distressed Tourism, Hotel, and Restaurant Companies Listed on IDX (2020-2023) Tresnajaya, Alyaa Rabbani; Tanzil, Nanny Dewi; Cempaka, Adisti Gilang
Journal of Accounting Auditing and Business Vol 7, No 2 (2024): July Edition
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jaab.v7i2.56404

Abstract

The Covid-19 pandemic has significantly impacted business activities across various industries, leading many companies to face financial distress. Companies opting to continue their business operations may undergo corporate restructuring to sustain and reverse their performance (turnaround). This study aims to analyze the influence of management actions based on restructuring and economic conditions, including expense retrenchment, asset retrenchment, DER ratio, CEO turnover, and GDP, on the success of turnaround in companies experiencing financial distress, with free assets and firm size set as control variables. The Altman Z-Score model will be employed as a measurement of financial distress. This study's subjects are all 37 tourism, hotel, and restaurant companies consistently listed on the Indonesia Stock Exchange from 2020 to 2023. Sample selection utilized purposive sampling techniques, resulting in a sample size of 12 companies observed over three years. Logistic regression analysis will be used to test hypotheses. The research findings indicate that all independent variables positively influence turnaround success, but only expense retrenchment significantly impacts it.
The effect of working capital management and capital structure on firm value through profitability as a mediating variable in manufacturing companies during the COVID-19 pandemic Sari, Dinda Puspita; Sari, Prima Yusi; Cempaka, Adisti Gilang
Journal of Accounting Auditing and Business Vol 8, No 1 (2025): January Edition
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jaab.v8i1.59252

Abstract

During the COVID-19 pandemic, many companies experienced a decline in performance due to market uncertainty, cash flow limitations, and disruptions to supply chains. Therefore, effective capital management to support company performance became crucial. This study aims to analyze the impact of working capital management (CCC) and capital structure (DER) on firm value (Tobin’s Q) through profitability (ROA) among manufacturing companies listed on the Indonesia Stock Exchange during the Covid-19 pandemic from 2020 to 2022. The sample was selected using purposive sampling, resulting in a total of 118 companies. Data analysis includes descriptive statistics, normality tests, Robust Least Squares regression, coefficient of determination tests, partial tests, path analysis, and Sobel test. The results indicate that the independent variables CCC and DER do not have a direct significant effect on firm value during the Covid-19 pandemic. However, when profitability (ROA) is considered as a mediating variable, both CCC and DER show a negative impact on firm value. Furthermore, the study reveals a differing direct relationship between capital structure (DER) and firm value, where the relationship is positive.
The effect of environmental, social, and governance (ESG) performance and capital structure on firm value in manufacturing companies listed on the Indonesia Stock Exchange for the 2019–2023 period Putri, Aliea Yenemia; Sukmadilaga, Citra; Cempaka, Adisti Gilang
Journal of Accounting Auditing and Business Vol 8, No 2 (2025): July Edition
Publisher : Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24198/jaab.v8i2.65350

Abstract

This study aims to analyze the effect of Environmental, Social, and Governance (ESG) performance and capital structure on firm value in the manufacturing sector listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. ESG performance is measured using individual and combined scores from LSEG Datastream (Refinitiv). Capital structure is proxied by the Debt-to-Equity Ratio (DER), while firm value is measured using the Tobin’s Q ratio. This research adopts a quantitative approach using panel data regression analysis. The sample consists of 20 manufacturing firms selected through purposive sampling. Control variables include firm size, profitability (ROA), and macroeconomic factors such as stock return sensitivity to inflation, interest rate changes, and global oil price fluctuations. The results show that partially, both individual and combined ESG scores, as well as capital structure, do not significantly affect firm value. However, ESG performance and capital structure jointly have a significant effect on firm value.
Co-Authors Anjanie, Anjanie Citra Sukmadilaga Harahap, Devianti Yunita Muthya, Rosyani Nanny Dewi Tanzil Nisa, Farhatun Putri, Aliea Yenemia Sari, Dinda Puspita Sari, Prima Yusi Tresnajaya, Alyaa Rabbani Winarningsiha, Srihadi