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All Journal Jurnal Maneksi (Management Ekonomi Dan Akuntansi) EKONOMIS : Journal of Economics and Business Global Financial Accounting Journal Nusantara Science and Technology Proceedings Sustainable : Jurnal Akuntansi Journal of Trends Economics and Accounting Research Journal of Ekonomics, Finance, and Management Studies
Vendy, Vicky
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Religion Agriculture, Biological Sciences & Forestry Chemical Engineering, Chemistry & Bioengineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Law, Crime, Criminology & Criminal Justice Materials Science & Nanotechnology Medicine & Pharmacology

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Literature Review: Regarding Stock Returns in Initial Public Offerings Widodo, Condro; Wijaya, R. Muh Syah Arief Atmaja; Budiman, Arief; Vendy, Vicky; Sucahyati, Diarany; Bahruna, Muhammad Aditya; Sabililillah, Farrel; Putri P., Alifia
Nusantara Science and Technology Proceedings 8th International Seminar of Research Month 2023
Publisher : Future Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/nstp.2024.4158

Abstract

This research aims to conduct a literature review of previous research on factors that influence stock returns at the time of an IPO. This literature review uses nine articles from 2017-2022 in the journal database. This literature review finds factors influencing stock returns during initial public offerings, intellectual capital disclosure, company growth opportunities, research and development (R&D), underwriter reputation, market conditions, percentage of shares offered, and profitability. Future researchers should enrich the journal database further for perfect literature reviews.
A Literature Review of University Endowment Funds in the US and Malaysia Vendy, Vicky; Sucahyati, Diarany; Widodo, Condro; Hardiansyah, In Naka Malik; Shodiq, Moh. Dhirhan Fajar
Nusantara Science and Technology Proceedings 8th International Seminar of Research Month 2023
Publisher : Future Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11594/nstp.2024.4159

Abstract

This study aims to review the prior studies regarding the University Endowment Funds in the US and Malaysia. This study uses 6 selected articles published during 2016-2022. This study found universities that manage endowment funds in the US have larger assets, and more aggressive investment strategies. Top-performing universities in terms of endowment funds are Harvard, Yale, Stanford, and Princeton University. However, universities in Malaysia tend to manage smaller assets and invest in less risky assets. Top-performing universities in terms of endowment funds are Universiti Malaya, Universiti Kebangsaan Malaysia, and Universiti Teknologi Malaysia.
Build Connections: Politics and Tax Aggressiveness in the Construction Sector Sucahyati, Diarany; Vendy, Vicky; Widodo, Condro
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 6 No. 6 (2025): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v6i6.8502

Abstract

ABSTRACT. This study aims to examine the relationship between political connections and tax aggressiveness in 461 construction sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period, using multiple linear regression analysis. The findings reveal that politically connected firms in the construction sector exhibit higher levels of tax aggressiveness. This suggests that protection from political affiliates provides these companies with greater flexibility in formulating aggressive tax strategies. The study focuses on the construction sector due to its close linkage with government policies, particularly in project procurement and tender processes. Therefore, this research seeks to specifically assess the impact of political connections on companies operating in a business sector that is highly sensitive to government policy interventions. Keywords: political connections, tax aggressiveness, construction sector, tax avoidance. ABSTRAK. Penelitian ini bertujuan untuk menguji hubungan koneksi politik terhadap agresivitas pajak pada 461 perusahaan sektor konstruksi yang terdaftar di Bursa Efek Indonesia selama periode 2019–2023 menggunakan regresi linier berganda. Penelitian ini menemukan bahwa perusahaan terkoneksi politik yang berada di sektor konstruksi memiliki agresivitas pajak yang tinggi. Temuan ini mengindikasikan bahwa perlindungan dari pihak terkoneksi politik memberikan keleluasaan bagi perusahaan dalam menyusun strategi perpajakan yang agresif. Penelitian ini berfokus pada sektor konstruksi karena sektor ini memiliki keterkaitan erat dengan kebijakan pemerintah, terutama dalam proses pengadaan proyek dan pemenangan tender. Oleh karena itu, penelitian ini bertujuan untuk mengkaji secara lebih spesifik dampak koneksi politik terhadap perusahaan yang berada dalam sektor bisnis yang sensitif terhadap intervensi kebijakan pemerintah. Kata kunci: koneksi politik, agresivitas pajak, sektor konstruksi, penghindaran pajak.
Efektivitas Pemanfaatan Teknologi Informasi dalam Sistem Penagihan Mega Distributor di PT Semen Indonesia (Persero) Tbk Zahirah, Aishwarya Shafa; Vendy, Vicky
Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Vol. 13 No. 4 (2024): Desember
Publisher : Politeknik Negeri Ambon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31959/jm.v13i4.2515

Abstract

This research aims to evaluate information technology's effectiveness in the Mega Distributor billing system, a business model with a centralized sales mechanism focusing on the billing process from the Operating Company (OpCo) to PT Semen Indonesia (Persero) Tbk. The use of information technology is the adoption of paperless in the Mega Distributor billing system, known as MD Paperless. This research uses a qualitative approach with a case study method conducted at PT Semen Indonesia (Persero) Tbk. The primary and secondary data were obtained through observation, documentation, and interviews with five informants. The results of this research show that the implementation of MD Paperless increases time efficiency and reduces operational costs. The risk of human error in the billing process is also significantly reduced. However, the implementation of MD Paperless has an obstacle, namely the existence of system problems from external parties. However, the company overcame these obstacles using a temporary manual scheme.
Analysis of the Effect of Company Financial Performance on Financial Distress at Pupuk Indonesia Subsidiaries Putri Hardian, Qanita Marsha; Vendy, Vicky
Global Financial Accounting Journal Vol. 7 No. 2 (2023)
Publisher : Accounting Department, Faculty of Business and Management, Universitas Internasional Batam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37253/gfa.v7i2.7815

Abstract

Purpose - This study uses the subsidiaries of PT. Pupuk Indonesia's Springate Score and Altman Z-Score to investigate the relationship between the financial performance of a business and its financial situation. Additionally, this study looks into whether the outcomes of the calculations for the Altman Z-Score and Springate Score differ significantly. Research Method - The technique of purposeful sampling was used to gather samples from the 2017–2021 annual reports of five PT. Pupuk Indonesia subsidiaries. Findings - The significant distinction comparing the two test results was further investigated in this study using the Mann-Whitney method. Implication - Based on the results of computations utilizing distinct financial ratios, the Altman Z-Score and Springate Score models show that liquidity issues can be forecast. However, there is a substantial discrepancy between the two models.
Pengaruh Modal Intelektual dan Peluang Pertumbuhan Perusahaan terhadap Initial return: Bukti pada Perusahaan yang Melakukan IPO Periode 2020-2022 Widodo, Condro; Wijaya, R. Muh Syah Arief Atmaja; Budiman, Arief; Vendy, Vicky; Sucahyati, Diarany
Ekonomis: Journal of Economics and Business Vol 8, No 2 (2024): September
Publisher : Universitas Batanghari Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/ekonomis.v8i2.1773

Abstract

This research aims to determine the effect of intellectual capital and company growth opportunities on the initial return of IPOs for the 2020-2022 period. This period was used because during that period there was a pandemic due to the corona virus. The research population is all companies that carried out initial stock offerings (IPO) in Indonesia during the 2020-2022 period. This research uses a purposive sampling technique to determine the research sample. The results of this research found that a company's intellectual capital has no effect on initial returns, meaning that this research does not support the resource-based theory. However, on the other hand, the results of this research show that company growth opportunities have a positive effect on initial returns, meaning that the results of this research also support signaling theory.
Kualitas Sumber Daya Manusia Memoderasi Determinan Senjangan Anggaran Faizah, Nur; Budiwitjaksono, Gideon Setyo; Vendy, Vicky
Ekonomis: Journal of Economics and Business Vol 8, No 1 (2024): Maret
Publisher : Universitas Batanghari Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33087/ekonomis.v8i1.1065

Abstract

The study aims to analyze budget participation and budget clarity on budgetary slack, are moderated by human resources quality at BLUD Puskesmas in Jombang Regency. The population of this study are 34 BLUD Puskesmas di Jombang Regency with the research subjects are administration coordinator, data planning and management coordinator, and financial coordinator from BLUD Puskesmas. The number of samples in this study is 25 BLUD Puskesmas that obtained by using slovin formula, resulting in a total of 75 employees as respondents. The sampling technique used is simple random sampling with lottery method. The type research is quantitive research with the Partial Least Square (PLS) The steps used in PLS analysis technique are outer model analysis, inner model analysis, and hypothesis test. The result show that budget participation has a positive effect on budgetary slack, budget clarity has a negative effect on budgetary slack, human resources quality is not able to moderate budget participation on budgetary slack, and human resources quality is able to moderate budget clarity on budgetary slack.
KInerja Keuangan dari Perspektif Keberlanjutan: Peran Kinerja Lingkungan, Modal Intelektual, dan Tata Kelola Perusahaan Nur Aliyyah, Wandah; Vendy, Vicky
SUSTAINABLE Vol 5 No 2 (2025): Volume 5 No 2, November 2025
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/stb.v5i2.27365

Abstract

This study examines the influence of environmental performance, intellectual capital, and corporate governance on the financial performance of energy sector companies listed on the Indonesia Stock Exchange during the 2021–2023 period. Secondary data were obtained from financial statements and PROPER rating reports. A total of 63 observations from 21 companies were selected using purposive sampling. Data analysis was conducted using panel data regression with the aid of STATA17 software. The results show that intellectual capital and the number of audit committee members have a positive and significant effect on financial performance. These findings indicate that efficient management of intangible assets and strong internal oversight mechanisms can enhance company profitability. Additionally, the proportion of independent commissioners exhibits a negative and significant effect on financial performance, suggesting potential ineffectiveness in oversight when not accompanied by sufficient engagement and competence.On the other hand, environmental performance, board size, and managerial ownership variables do not show significant effects. These findings imply that not all aspects of sustainability and corporate governance contribute directly to improvements in financial performance.
Peran Pengendalian Internal dalam Optimalisasi Pengelolaan Persediaan pada Perusahaan Distribusi dan Perdagangan Septiawan, Hendra Sutarto; Vendy, Vicky
Journal of Trends Economics and Accounting Research Vol 6 No 2 (2025): December 2025
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/jtear.v6i2.2118

Abstract

This study aims to analyze the role of internal control systems in optimizing merchandise inventory management within distribution and trading companies in Surabaya. Adopting a qualitative approach with a case study method, data was collected through interviews, observations, and documentation. The findings indicate that the implementation of an internal control system, based on the COSO framework, is well-established, along with the utilization of systems and procedures related to the inventory accounting system. The organizational structure is clearly defined, with duties and authorities aligned with Standard Operating Procedures (SOPs), ensuring effective inventory oversight. The company employs two inventory management methods: FIFO for consumer products and FEFO for pharmaceutical and medical device products. Both methods effectively manage expiry risks and maintain stable product supply. The company utilizes DTMS technology and manual recording for inventory tracking, automatically managing company transaction data. Regular supervision by external bodies such as BPOM, BPK, SPI, and KAP helps prevent fraud risks within the company. While the internal control system operates effectively, employee negligence remains a factor influencing company operations.
Co-Authors Arief Budiman Bahruna, Muhammad Aditya Budiwitjaksono, Gideon Setyo Chatarina Umbul Wahyuni Hardiansyah, In Naka Malik Nur Aliyyah, Wandah Nur Faizah Putri Hardian, Qanita Marsha Putri P., Alifia Sabililillah, Farrel Septiawan, Hendra Sutarto Shodiq, Moh. Dhirhan Fajar Sucahyati, Diarany Widodo, Condro Wijaya, R. Muh Syah Arief Atmaja Zahirah, Aishwarya Shafa