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The Role of Political Connections in Moderating Profitability, Leverage, and Institutional Ownership on Firm Value: Empirical Evidence from the Indonesian Banking Industry Yuli; Azazi, Anwar; Syahputri, Anggraini; Mustarudin; Wendy
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 1 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i1.9832

Abstract

This study aims to analyze the effect of political connections, profitability, and leverage on firm value in banking companies listed on the Indonesia Stock Exchange for the period 2019–2024, with institutional ownership acting as a moderating variable. The research sample consisted of 39 companies with a total of 234 observations selected through purposive sampling, using secondary data sourced from financial reports and share ownership information. The analysis was conducted using Moderated Regression Analysis (MRA) based on panel data. The results show that internal company determinants have an impact on firm value with varying intensity, while political connections are proven to play a selective role in moderating this relationship. These findings contribute to enriching the literature on firm value determinants in the banking sector and governance implications in a highly regulated industry.
Integrasi Model UTAUT dan Trust terhadap Intention Digital Payment pada Mahasiswa dengan Perceived Value sebagai Variabel Mediasi Riakbar, Bima; Malini, Helma; Hendri, M. Irfani; Wendy; Syahputri, Anggraini
Jurnal Alwatzikhoebillah : Kajian Islam, Pendidikan, Ekonomi, Humaniora Vol. 12 No. 1 (2026): Jurnal Alwatzikhoebillah : Kajian Islam, Pendidikan, Ekonomi, Humaniora
Publisher : Institut Agama Islam Sultan Muhammad Syafiuddin Sambas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37567/alwatzikhoebillah.v12i1.5130

Abstract

Digital transformation has driven major changes in payment systems. Although Bank Indonesia has implemented QRIS since 2019, its adoption is still hampered by the dominance of cash transactions, low user trust, and limited digital literacy. This study aims to analyze the influence of performance expectancy, effort expectancy, social influence, facilitating conditions, and trust on the intention to use QRIS with perceived value as a mediating variable. A quantitative approach was used through an online survey of 200 students in Indonesia, and the data were analyzed using the PLS-SEM method with SmartPLS. The results show that performance expectancy, effort expectancy, social influence, trust, and perceived value have a positive and significant effect on the intention to use QRIS. Conversely, facilitating conditions do not have a significant direct effect on the intention to use, but have a significant effect through the mediation of perceived value. These findings indicate that perceived value is the main mechanism that bridges technological, social, and psychological factors in shaping the intention to use QRIS. This study contributes theoretically by expanding the UTAUT model and provides practical implications for regulators and digital payment service providers to increase the perceived value of users to encourage the adoption of QRIS.
Pengaruh ESG Disclosure, Green Product Innovation on Financial Perfomance Dengan Firm Size Sebagai Moderasi Wijaya, Hendry; Malini, Helma; Hendri, M.Irfani; Wendy, Wendy; Syahputri, Anggraini
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 5 No. 4: Mei 2026
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v5i4.16125

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Environmental, Social, and Governance (ESG) Disclosure dan Green Product Innovation terhadap Financial Performance perusahaan, dengan Firm Size sebagai variabel moderasi. Latar belakang penelitian ini berangkat dari meningkatnya perhatian global terhadap praktik keberlanjutan serta masih terbatasnya studi di Indonesia yang menguji kedua variabel tersebut secara bersamaan dengan peran ukuran perusahaan. Pendekatan penelitian menggunakan metode kuantitatif dengan desain kausal. Data sekunder diperoleh dari laporan tahunan dan laporan keberlanjutan perusahaan sektor Consumer Non-Cyclicals yang terdaftar di Bursa Efek Indonesia periode 2021–2024. Analisis data dilakukan menggunakan Moderated Regression Analysis (MRA). Hasil penelitian menunjukkan bahwa ESG Disclosure dan Green Product Innovation belum berpengaruh signifikan terhadap Financial Performance, baik yang diukur dengan ROA maupun ROE, serta Firm Size tidak memoderasi hubungan tersebut. Temuan ini mengindikasikan bahwa praktik ESG dan inovasi hijau pada perusahaan sektor Consumer Non-Cyclicals di Indonesia masih belum mampu dikonversi menjadi kinerja keuangan jangka pendek, meskipun model penelitian secara simultan dinyatakan signifikan.)
Do Capital Structure, Profitability and Earnings Volatility Affect Firm Value? Moderating Role of CSR Disclosure in Indonesia’s Non-Financial Industry Liani; Azazi, Anwar; Rosnani, Titik; Ristyawan, M. Ridwan; Syahputri, Anggraini
JURNAL MANAJEMEN MOTIVASI Vol 22 No 1 (2026): Jurnal Manajemen Motivasi
Publisher : Universitas Muhammadiyah Pontianak

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29406/jmm.v22i1.8939

Abstract

In highly competitive global business era, maximizing firm value is key to competitive advantage and sustainability. This study examines the impact of capital structure, profitability and earnings volatility on firm value with moderating role of CSR Disclosure among Indonesia’s energy, basic materials and non-cyclical sectors listed at Indonesian Stock Exchange (IDX) from 2021-2024. Data from annual and sustainability reports were tested using multiple linear regression on E-views. Results indicate that capital structure, profitability and earnings volatility significantly impacting firm value, while CSR only moderate capital structure and profitability. This suggests that investors may prioritize financial performance when assessing firm value. Keywords: Capital Structure; Profitability; Earnings Volatility; Firm Value; CSR