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Pengaruh Profitabilitas, Struktur Modal, dan Likuiditas Terhadap Nilai Perusahaan Pada Perusahaan Sektor Barang Konsumen Primer Tambun, Ida Lasroha Br; Elisabeth, Duma Megaria; Sihite, Mislan
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 1 (2026): Februari - April
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i1.7477

Abstract

Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh profitabilitas, struktur modal, dan likuiditas terhadap nilai perusahaan pada perusahaan sektor barang konsumen primer yang terdaftar di Bursa Efek Indonesia periode 2022–2024. Variabel independen dalam penelitian ini terdiri dari profitabilitas yang diproksikan dengan Return on Assets (ROA), struktur modal yang diproksikan dengan Debt to Equity Ratio (DER), dan likuiditas yang diproksikan dengan Current Ratio (CR). Sementara itu, variabel dependen yaitu nilai perusahaan diproksikan dengan Tobin’s Q. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik pengambilan sampel purposive sampling. Berdasarkan kriteria yang telah ditetapkan, diperoleh sebanyak 68 perusahaan sebagai sampel penelitian. Teknik analisis data yang digunakan adalah regresi linier berganda untuk menguji pengaruh masing-masing variabel independen terhadap variabel dependen, baik secara parsial maupun simultan. Hasil penelitian menunjukkan bahwa secara parsial profitabilitas berpengaruh positif dan signifikan terhadap nilai perusahaan, yang berarti semakin tinggi tingkat profitabilitas perusahaan maka nilai perusahaan akan meningkat. Struktur modal juga berpengaruh positif dan signifikan terhadap nilai perusahaan, menunjukkan bahwa penggunaan utang yang optimal mampu meningkatkan nilai perusahaan. Namun, likuiditas berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan, yang mengindikasikan bahwa tingkat likuiditas yang tinggi tidak selalu meningkatkan nilai perusahaan. Secara simultan, profitabilitas, struktur modal, dan likuiditas berpengaruh positif dan signifikan terhadap nilai perusahaan. Temuan ini menunjukkan bahwa kombinasi ketiga variabel tersebut secara bersama-sama mampu memengaruhi nilai perusahaan.
Pengaruh Rasio Lancar, Rasio Utang Jangka Panjang, dan Profitabilitas Terhadap Return On Equity (ROE) Pada Perusahaan Infrastruktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2022-2024 Suntimala, Rosalina; Elisabeth, Duma Megaria; Sihite, Mislan
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 1 (2026): Februari - April
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i1.7521

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh rasio lancar, rasio utang jangka panjang, dan profitabilitas terhadap return on equity (ROE) pada perusahaan infrastruktur yang terdaftar di Bursa Efek Indonesia periode 2022–2024. Variabel independen dalam penelitian ini meliputi rasio lancar, rasio utang jangka panjang, dan profitabilitas, sedangkan variabel dependen adalah return on equity. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan teknik pengambilan sampel purposive sampling. Dari total populasi sebanyak 69 perusahaan, diperoleh 37 perusahaan sebagai sampel dengan periode pengamatan selama tiga tahun. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan yang diakses melalui situs resmi Bursa Efek Indonesia (www.idx.co.id). Metode analisis data yang digunakan adalah analisis regresi linier berganda dengan bantuan program IBM SPSS versi 26. Hasil penelitian secara parsial menunjukkan bahwa rasio lancar berpengaruh negatif dan tidak signifikan terhadap ROE, rasio utang jangka panjang berpengaruh positif namun tidak signifikan terhadap ROE, sedangkan profitabilitas berpengaruh positif dan signifikan terhadap ROE. Secara simultan, rasio lancar, rasio utang jangka panjang, dan profitabilitas berpengaruh positif dan signifikan terhadap return on equity. Nilai koefisien determinasi menunjukkan bahwa ketiga variabel independen mampu menjelaskan variasi ROE sebesar 26,5%, sementara sisanya sebesar 73,5% dipengaruhi oleh variabel lain di luar model penelitian. Hasil penelitian ini diharapkan dapat memberikan kontribusi bagi manajemen perusahaan dan investor dalam pengambilan keputusan terkait kinerja keuangan dan investasi pada sektor infrastruktur.  
Pengaruh Profitabilitas, Pertumbuhan Perusahaan dan Ukuran Perusahaan Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Mediasi Pada Perusahaan Sektor Otomotif Yang Terdaftar Di Bursa Efek Indonesia Periode 2022-2024 Tarigan, Jevan Benedik Haganta; Sianturi, Jeudi A.T.P; Elisabeth, Duma Megaria
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 1 (2026): Februari - April
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i1.7779

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, pertumbuhan perusahaan, dan ukuran perusahaan terhadap nilai perusahaan dengan kebijakan dividen sebagai variabel mediasi pada perusahaan sektor otomotif yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2023. Profitabilitas diukur menggunakan Return on Assets (ROA), pertumbuhan perusahaan menggunakan Total Asset Growth (TAG), ukuran perusahaan menggunakan logaritma natural total aset (LnTA), kebijakan dividen menggunakan Dividend Payout Ratio (DPR), dan nilai perusahaan diproksikan dengan Tobin’s Q. Penelitian ini menggunakan pendekatan kuantitatif dengan jenis data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan. Sampel penelitian ditentukan dengan metode purposive sampling sesuai dengan kriteria yang telah ditetapkan. Teknik analisis data yang digunakan adalah Partial Least Squares–Structural Equation Modeling (PLS-SEM) dengan bantuan perangkat lunak WarpPLS 8.0. Hasil penelitian menunjukkan bahwa profitabilitas dan pertumbuhan perusahaan berpengaruh positif dan signifikan terhadap nilai perusahaan. Hal ini mengindikasikan bahwa kemampuan perusahaan dalam menghasilkan laba serta pertumbuhan aset yang dimiliki mampu meningkatkan persepsi investor terhadap nilai perusahaan. Selain itu, profitabilitas juga terbukti berpengaruh positif dan signifikan terhadap kebijakan dividen, yang menunjukkan bahwa perusahaan dengan tingkat keuntungan yang tinggi cenderung membagikan dividen yang lebih besar kepada pemegang saham. Namun demikian, hasil pengujian mediasi menunjukkan bahwa kebijakan dividen tidak mampu memediasi pengaruh profitabilitas terhadap nilai perusahaan. Sementara itu, ukuran perusahaan memiliki pengaruh positif tetapi tidak signifikan terhadap nilai perusahaan.
The Influence of Sustainability Reportdisclosure on Financial Perfomance Energy Sector Companies Listed the Indonesia Stock Exchange (IDX) Period 2021-2024 Sembiring, Riska; Duma Megaria Elisabeth; Farida Sagala; Wesly Andri Simanjuntak
METHOSIKA: Jurnal Akuntansi dan Keuangan Methodist Vol 10 No 1 (2026): METHOSIKA: Jurnal Akuntansi dan Keuangan Methodist
Publisher : Universitas Methodist Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46880/jsika.Vol10No1.pp108-118

Abstract

This study aims to investigate and analyze the extent to which sustainability report disclosure influences the financial performance of companies operating within the energy sector that are officially listed on the Indonesia Stock Exchange (IDX). The sampling technique employed in this research is purposive sampling, applied to a population comprising 91 energy sector companies. From this population, a total of 10 energy sector companies listed on the Indonesia Stock Exchange were selected as the final research sample, accessed through the official IDX website at www.idx.co.id. The research adopts a quantitative approach as its primary methodology, with multiple linear regression analysis serving as the main data analysis technique used to examine the relationships between the variables under investigation. The findings of this study reveal that, when examined partially, economic performance demonstrates a positive yet statistically insignificant effect on financial performance, while environmental performance is found to exert a positive and statistically significant influence on financial performance. In contrast, social performance is shown to produce a negative and statistically insignificant impact on financial performance. However, when all three variables are tested simultaneously, the collective disclosure of economic performance, environmental performance, and social performance is found to have a significant and meaningful effect on financial performance as a whole. Furthermore, the results of the coefficient of determination test indicate that the combined variables of Economic Performance, Environmental Performance, and Social Performance are collectively capable of explaining approximately 13.7% of the total variation observed in the Financial Performance variable. The remaining 86.3% of the variation in financial performance is attributed to other variables and factors that were not incorporated into the regression model of the present study, suggesting that a broader range of determinants beyond those examined here may also play a substantial role in shaping the financial outcomes of energy sector companies listed on the Indonesia Stock Exchange.
Analysis Of the Effect Of Profitability And Public Ownership On Firm Value with Firm Size as A Moderating Variable In The Banking Industry Listed on The Indonesia Stock Exchange In The Period 2019-2022 Duma Megaria Elisabeth; Septony B Siahaan; Ivo Maelina Silitonga; Farida Sagala; Gracesiela Y Simanjuntak
Jurnal Ilmiah Accusi Vol. 7 No. 1 (2025): Jurnal Ilmiah Accusi 7(1) Mei 2025
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/38pp9224

Abstract

This research aims to examine the effect of profitability and public ownership on firm value with firm size as a moderating variable on the Indonesia Stock Exchange (IDX). The type of data used in this research is secondary data in the form of annual financial reports from companies listed on the Indonesia Stock Exchange (IDX). The data analysis method used multiple linear regression and Moderated Regression Analysis (MRA). The population of this research consists of 44 banking sector companies listed on the Indonesia Stock Exchange (IDX), with 11 companies selected as samples using purposive sampling method based on specific criteria. The data obtained was then processed using SPSS version 26 analysis tool. The results of the t-test show that profitability variable has a negative but insignificant effect on firm value (PBV), and public ownership variable has a significant negative effect on firm value (PBV). The results of the simultaneous test (F test) show that profitability (ROA) and public ownership (KP) together have a significant effect on price to book value (PBV). The moderation test results indicate that firm size strengthens the effect of profitability on firm value, but is unable to moderate the effect of public ownership on firm value. The results of this study also show that the independent variables are able to explain 31.7% of the PBV variable, while the remaining 68.3% is influenced by other variables outside this research model
The Impact of Capital Structure, Liquidity, And Firm Size OnFinancial Performance an Empirical Study Of Technology Companies Listed on The Indonesia Stock Exchange (2020 - 2023) Roma Simbolon; Thomas Sumarsan Goh; Arthur Simanjuntak; Duma Megaria Elisabeth
Jurnal Ilmiah Accusi Vol. 7 No. 1 (2025): Jurnal Ilmiah Accusi 7(1) Mei 2025
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/fj4y6v92

Abstract

In the era of globalization and evolving economic factors, Indonesian businesses must demonstrate resilience within increasingly competitive environments. Corporate financial health serves as a critical indicator of operational efficiency, asset utilization effectiveness, business outcome realization, outstanding obligations management, and potential bankruptcy risks. Developing internal capabilities through technological advancement, product quality enhancement, human resource development, expenditure efficiency, and performance optimization represents a strategic approach to maintaining and improving corporate financial wellness. According to research by Sarwindah and Imronudin (2023), financial performance analysis seeks to evaluate how effectively a corporation adheres to appropriate and accurate principles when conducting its financial activities
The Impact of Risk Management & Internal Audit on Credit Provision Policy at PT Bank Sumut Lotu Branch Farrel Arvid Faoloaro Zai; Duma Megaria Elisabeth; Farida Sagala
Jurnal Ilmiah Accusi Vol. 7 No. 2 (2025): Jurnal Ilmiah Accusi
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/6fy4z091

Abstract

This study aims to analyze the effect of risk management and internal audit implementation on credit policy at PT Bank Sumut Lotu Sub-Branch. The background of this research is the significant difference between credit disbursed and credit repaid, as well as the suboptimal implementation of risk management and internal audit in credit policy. This study uses an explanatory method with a quantitative approach. The research population consists of all employees in the credit division of PT Bank Sumut Lotu Sub-Branch, totaling 17 people, with saturated sampling technique so that the entire population is used as the sample. Data were collected through questionnaires using a Likert scale and analyzed using SPSS with multiple regression analysis technique. The results show that risk management has a negative and significant effect on credit policy (ttabel = 2,145; t = -6.132; p = 0.000), indicating that the stricter the implementation of risk management, the more conservative the credit policy becomes. Internal audit has a positive and significant effect on credit policy (β = 1.577; t = 8.416; p = 0.000), showing that effective internal audit improves the quality of credit policy. Simultaneously, both variables have a significant effect on credit policy with an F-calculated value of 36.463 (p = 0.000) and a coefficient of determination (R²) of 83.9%, indicating that both variables can explain 83.9% of the variation in credit policy. This study concludes that risk management and internal audit are two complementary functions in supporting the establishment of effective credit policies in banking
Integrated CSR Reporting and Stakeholder Engagement: Implications for Management Accounting Systems Duma Megaria Elisabeth; Septony B Siahaan; Merry Anna Napitupulu; Mulatua P Silalahi; Rimky Mandala Putra Simanjuntak
Jurnal Ilmiah Accusi Vol. 7 No. 2 (2025): Jurnal Ilmiah Accusi
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/ncvt4p05

Abstract

This research examines how integrated Corporate Social Responsibility (CSR) reporting influences stakeholder engagement effectiveness and subsequently transforms management accounting systems in publicly listed corporations. Drawing upon institutional theory, stakeholder theory, and contingency theory, this study investigates how CSR disclosure practices reshape internal management accounting mechanisms to support strategic decision-making and performance measurement. Using Structural Equation Modeling with Partial Least Squares (PLS-SEM) analysis on 118 publicly listed companies across multiple industries (590 firm-year observations, 2020-2024), the research demonstrates that integrated CSR reporting significantly enhances stakeholder engagement quality (β = 0.647, p < 0.001) and directly influences management accounting system sophistication (β = 0.486, p < 0.001). Stakeholder engagement substantially mediates the relationship between integrated CSR reporting and management accounting systems (indirect effect = 0.392, p < 0.001, VAF = 44.6%). The model explains 58.7% of stakeholder engagement variance and 64.3% of management accounting system variance. This study provides comprehensive empirical evidence of how integrated CSR reporting frameworks drive internal management accounting transformation in contemporary organizational environments
Audit Report Lag and Factors That Affect It in LQ45 Companies On The IDX Duma Megaria Elisabeth; Merry Anna Napitupulu; Septony B Siahaan; Rike Yolanda Panjaitan
Jurnal Ilmiah Accusi Vol. 8 No. 1 (2026): Jurnal Ilmiah Accusi
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/6tsbb603

Abstract

This study aims to analyze audit report lag and its determinants among companies listed in the LQ45 index on the Indonesia Stock Exchange (IDX) for the period 2020–2024. A quantitative approach was adopted using secondary data from annual reports and financial statements of 45 LQ45 companies. Variables examined include firm size, profitability, leverage, audit firm size, auditor opinion, audit committee, and solvability as independent variables against audit report lag as the dependent variable. Panel data regression with fixed effects estimation was employed. Results indicate that firm size (β = -3.812, p < 0.001), profitability (β = -2.147, p < 0.001), audit firm size (β = -8.423, p < 0.001), and audit opinion (β = -5.214, p < 0.001) significantly and negatively affect audit report lag. Leverage (β = 2.341, p < 0.001) shows a significant positive effect. The R² of 0.684 confirms that independent variables explain 68.4% of audit report lag variation. This study updates the literature by specifically focusing on LQ45 companies as Indonesia's blue-chip firms, offering the latest empirical evidence on determinants of audit report lag within Indonesia's evolving post-pandemic capital market context.
Sustainability Reporting and Its Impact on Financial Performance: Evidence from Indonesian Public Companies Merry Anna Napitupulu; Duma Megaria Elisabeth; Septony B Siahaan; Januardi Mesakh
Jurnal Ilmiah Accusi Vol. 8 No. 1 (2026): Jurnal Ilmiah Accusi
Publisher : Program Studi Akuntansi Universitas Simalungun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36985/tk6bev36

Abstract

This study aims to analyze the impact of sustainability reporting on the financial performance of public companies listed on the Indonesia Stock Exchange (IDX) for the period 2015–2024. A quantitative approach was adopted using secondary data from sustainability reports and annual financial statements of 120 non-financial companies listed on the IDX that published sustainability reports. Dependent variables include Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q, while the primary independent variable is the sustainability disclosure index measured using the Global Reporting Initiative (GRI) framework. Panel data analysis with fixed effects and random effects approaches was employed. Results indicate that sustainability disclosure has a significant positive effect on ROA (β = 0.214, p < 0.001), ROE (β = 0.187, p < 0.01), and Tobin’s Q (β = 0.312, p < 0.001), indicating that companies that comprehensively disclose sustainability practices have better financial performance and market value. These findings reinforce the literature on the positive relationship between environmental and social responsibility and firm value creation in the context of the Indonesian capital market
Co-Authors Abdi Nadeak Annelise Sasmita Tobing Apriani Magdalena Sibarani Arison Nainggolan Arison Nainggolan, Arison Arthur Simanjuntak Arthur Simanjuntak Bangun, Joy Erivan Pratama Br. Ginting, Paschloudya Butar Butar, Erissa Antheresya C. Ginting, Mitha Christina Verawati Situmorang Christina Verawaty Situmorang Deby Tobing Dewi Delima Hutagalung Diana Monica Dimita H. P. Purba Dona Pasaribu Duma Megaria Elisabeh Duma Rahel Situmorang, Duma Rahel Emma Rosinta Simarmata Erissa Antheresya Butar Butar Eva Julia Gunawati Harianja Farida Sagala Farrel Arvid Faoloaro Zai Fati Gratianus Nafiri Larosa Felisa Deswana Sianturi Giann Moses Lase Ginting, Juni Elisa Sari Ginting, Mitha C. Ginting, Mitha Christina Ginting, Sindy Clarisa Grace Debora Manurung Gracesiela Y Simanjuntak Greace Weros Putri Binventy Gultom, Rustri Ningsih Hervina Friska Siregar Hizkia Tambunan Hotlan Butar-Butar Ivo M. Silitonga Ivo Maelina Silitonga Ivo Maelina Silitonga Jamaluddin Jaminta Sinaga Jaminta Sinaga, Jaminta Januardi Mesakh Jatongam Nainggolan Jeudi A. T. P. Sianturi Jou Immanuel Sianturi Joy Erivan Pratama Bangun Juni Elisa Sari Ginting Junika Napitupulu Junita, Rahel Kristanty M N Nadapdap Leni Siagian Lyna M. N. Hutapea M. M. Pasaribu Pasaribu Maharani, Nurul Latiefah Manalu, Offiani Manurung, Anggiat Marbun, Sondang Melanthon Rumapea Merry Anna Napitupulu Mesakh, Januardi Mislan Sihite, Mislan Mitha Christina Ginting Mulatua Silalahi, Mulatua N.B. Marbun, Sondang Nadapdap, Kristanty M N Nadapdap, Kristanty M. N. Nadapdap, Kristanty M.N. Nadiya Meilani Tarigan Necia Mita Novalina Pasaribu Nova Liasna Br Tarigan Novita Tarigan Nurul Hasanah Nurwijayanti Panjaitan, Rike Y. Panjaitan, Rike Yolanda Pembimbing, Arison Nainggolan Purba, Livia Grestallia Purnama Panggabean Putra Pratama Putri Sopianna Sianturi Rahel Junita Rasmulia Sembiring Raulina Br. Sitinjak Rejeki Elmawati Rena Nainggolan Resianta Perangin-Angin Rike Y. Panjaitan Rike Yolanda Panjaitan Rike Yolanda Panjaitan Rimky M. P. Simanjuntak Rimky Mandala Putra Simanjuntak Rintan br Saragih Rintan Saragih Rintan Saragih, Rintan Roma Simbolon Rustri Ningsih Gultom Sagala, Lamria Sahala Purba Santy Sitohang Sapitri, Nurul Saragih, Rintan Br Saur Melianna Sipayung, Saur Melianna Selvina Sitorus Sembiring, Riska Sembiring, Yosephine N. Septony B. Siahaan Sianturi, Putri Sopianna SIBARANI, APRIANI M. Sihombing, Yohanna Paulina Silitonga, Ivo M. Simanjuntak, Faido M. P. Simanjuntak, Gracesiela Y Simanjuntak, Gracesiela Y. SIMANJUNTAK, GRACESIELA YOSEPHINE Simanjuntak, Rimky M. P. Simbolon, Roma Siregar, Elizabeth Siregar, Hervina Friska Sitanggang, David Patar Sitompul, Jonly Manuel H. Situmorang, Christina Verawaty Sondang N.B. Marbun Sumardi Adiman Suntimala, Rosalina Tambun, Ida Lasroha Br Tambunan, Jesica Tarigan, Jevan Benedik Haganta Thomas Sumarsan Goh Tobing, Annelise Sasmita Torong, Kezia Abigail Br Tri Darma Sipayung Tri Dharma Sipayung Tri Dharma Sipayung Tri Dharma Sipayung, Tri Dharma Virginia Aritonang Wesley Simanjuntak Wesly Andri Simanjuntak Yerisma Welly Yohanna Paulina Sihombing Yolanda Panjaitan, Rike Yosephine Natalita Sembiring Yosephine Sembiring Yulia Riska Manik