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All Journal Sinomika Journal: Publikasi Ilmiah Bidang Ekonomi dan Akuntansi International Journal of Economic Research and Financial Accounting
Nurmawaddah
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Economics, Econometrics & Finance

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FINANCIAL MANAGEMENT STRATEGY IN ONLINE SHOP IN SOUTH SULAWESI Nurmawaddah; Siti Aisyah; Firman Syah
International Journal of Economic Research and Financial Accounting Vol 2 No 4 (2024): IJERFA JULY 2024
Publisher : CV. AFDIFAL MAJU BERKAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55227/ijerfa.v2i4.176

Abstract

This study is a qualitative research aimed at understanding the financial management strategies applied by online shops in South Sulawesi. The type and sources of data used are primary data and secondary data. The data collection methods involve observation, interviews, and documentation with a total of five research subjects. The results indicate that all research informants, as online shop owners, still apply relatively simple financial management practices, but there has been improvement as they now detail every transaction conducted. Although they are fairly good at reporting finances, there is still room for improvement. Therefore, it is recommended that online shop owners deepen their understanding of financial management more comprehensively.
Determinan Struktur Modal dan Moderasi Kondisi Makroekonomi pada Perusahaan Non-Keuangan di Bursa Efek Indonesia Saripuddin , Yulia; Ridwan, Uli Maika Cita Raradyani; Fani, Vira Prithy; Nurmawaddah; Ismar, A. Nur Aviva; Muchran, Muchriana
SINOMIKA JOURNAL: Publikasi Ilmiah Bidang Ekonomi dan Akuntansi Vol. 5 No. 1 (2026): May
Publisher : CV. Lafadz Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/sinomika.v5i1.3604

Abstract

Background: Capital structure decisions are among the most fundamental issues in corporate financial management, directly influencing cost of capital, firm value, and long-term investment capacity. In emerging markets such as Indonesia, trade-off theory and pecking order theory do not always yield consistent predictions due to elevated information asymmetry and greater macroeconomic volatility. Objective: This study aims to identify the determinants of capital structure and examine the moderating role of macroeconomic conditions inflation and GDP growth on the relationship between firm-level determinants and leverage among non-financial firms listed on the Indonesia Stock Exchange (IDX) during 2014–2023. Methods: A quantitative explanatory-associative design was applied using balanced panel data from 182 firms selected through purposive sampling, yielding 1,820 firm-year observations. The System GMM estimator was employed to address endogeneity and unobserved heterogeneity inherent in dynamic capital structure models. Results: Profitability (ROA) exerts a significant negative effect on leverage, consistent with pecking order theory, while asset tangibility and firm size positively affect leverage in accordance with trade-off theory. Macroeconomic conditions inflation and GDP growth are confirmed as significant moderators of the firm-level determinant–leverage relationship. Conclusion: Macroeconomic volatility materially alters the sensitivity of leverage to internal firm factors. These findings contribute to the corporate finance literature by integrating macroeconomic moderation into a dynamic capital structure framework within an emerging market context.
Co-Authors Fani, Vira Prithy Firman syah Ismar, A. Nur Aviva Ridwan, Uli Maika Cita Raradyani Saripuddin , Yulia Siti Aisyah