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Analisis Kinerja Keuangan PT. Mitra Adi Perkasa Sebelum dan Sesudah Akuisisi terhadap PT. Premiere Doughnut Indonesia PUTRI, SELLYNDAH PRIMADANI; DJAZULI, ATIM
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian ini bertujuan untuk mengetahui adanya perbedaan kinerja keuangan PT. Mitra Adi Perkasa Tbk sebelum dan sesudah akuisisi. Selain itu juga untuk mengetahui ada tidaknya perbedaan yang siginifikan pada variabel sebelum dan sesudah akuisisi. Variabel yang digunakan untuk mengukur kinerja keuangan tersebut terdiri dari rasio likuiditas (CR dan QR), rasio leverage (Solvabilitas, DER, dan DAR), rasio aktivitas (ITO, FATO, TATO), rasio profitabilitas (NPM, ROE dan ROA dan rasio nilai pasar (EPS dan PER). Obyek penelitian yaitu PT Mitra Adi Perkasa Tbk periode tahun 2007-2013. Penelitian ini merupakan penelitian deskriptif kuantitatif yang mendeskripsikan keadaan kinerja keuangan PT Mitra Adi Perkasa Tbk antara sebelum dan sesudah akuisisi. Penelitian ini menggunakan metode non kausalatif komparatif karena mempelajari perbandingan beberapa variabel melalui pengujian hipotesis yang dilakukan dengan teknis analisis deskriptif dan uji statistik (paired sample t-test) Hasil penelitian menunjukkan bahwa  kinerja keuangan perusahaan sesudah aktivitas akuisisi mengalami peningkatan yang cukup signifikan namun juga mengalami penurunan dibandingkan sebelum akuisisi. Hal ini terlihat pada rasio DER, DAR, ITO, TATO, FATO, NPM, ROI, ROE, EPS dan PER menunjukkan peningkatan sesudah akuisisi. Sedangkan rasio CR, QR, dan solvabilitas menunjukkan penurunan sesudah akuisisi dibanding sebelum akuisisi. Hasil uji signifikan menunjukkan tidak ada perbedaan yang signifikan pada semua rasio sebelum dan sesudah akuisisi.   Kata kunci : kinerja keuangan, akuisisi, rasio likuiditas, leverage, aktivitas, profitabilitas,  nilai pasar
PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN (Studi Pada Perusahaan Automotive and Alliance yang Terdaftar di Bursa Efek Indonesia Periode 2010 – 2014) Rahman, Abrian Amir; Djazuli, Atim
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Suatu nilai perusahaan dapat memberikan dampak positif kepada perusahaan itu sendiri, pemangku kepentingan, serta para pemegang saham perusahaan. Penelitian ini dilakukan dengan tujuan untuk menguji dan menganalisis pengaruh struktur modal yang diproksikan dengan Long Term Debt to Equity Ratio (LTDER) dan profitabilitas yang diproksikan dengan Return on Asset (ROA) terhadap sebuah nilai perusahaan yang diproksikan dengan Market Value of Equity (MVE) pada perusahaan Automotive and Alliance yang terdaftar di Bursa Efek Indonesia periode 2010 – 2014. Populasi pada penelitian ini adalah 12 perusahaan Automotive and Alliance yang terdaftar pada Bursa Efek Indonesia periode 2010 – 2014. Pemilihan sampel ditentukan dengan menggunakan metode purposive sampling, sehingga diperoleh data perusahaan sampel sebanyak 10 perusahaan Automotive and Alliance. Analisis data dalam penelitian ini menggunakan analisis regresi linier berganda. Hasil analisis data dengan menggunakan analisis regresi linier berganda menunjukkan bahwa struktur modal yang meningkat dan profitabilitas yang meningkat berpengaruh positif dan signifikan terhadap peningkatan nilai perusahaan.  Kata Kunci: Nilai Perusahaan, Struktur Modal, Profitabilitas
PENGARUH RETURN ON ASSET, DEBT TO EQUITY RATIO, DAN ASSET GROWTH TERHADAP DIVIDEND PAYOUT RATIO (Studi pada Perusahaan Manufaktur yang Terdaftar di BEI) M, Ericson; Djazuli, Atim
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Kebijakan pembayaran dividen berkaitan dengan penggunaan laba yang diperoleh perusahaan, yaitu apakah laba tersebut dibagikan kepada pemegang saham sebagai dividen atau laba tersebut akan ditahan untuk tujuan reinvestasi di masa yang akan datang. Oleh karena itu penentuan besarnya dividen yang akan dibagikan kepada para investor menjadi sangat penting dan merupakan tugas serta tanggung jawab bagi para manajer dimana mereka harus mampu memutuskan kebijakan dividen saat ini dan tingkat pertumbuhan dividen sehingga dapat memaksimumkan harga saham serta meningkatkan nilai perusahaan. Penelitian  ini  bertujuan  untuk  menguji  dan  menganalisis  pengaruh  Return  on  Asset (ROA), Debt to Equity Ratio (DER), dan Asset Growth (AG) terhadap Dividend Payout Ratio (DPR) pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Periode penelitian adalah 2010-2013. Jenis penelitian ini adalah Explanatory Research dengan menggunakan pendekatan kuantitatif. Sampel dalam penelitian ini yaitu sebanyak 15 perusahaan manufaktur yang dipilih melalui metode nonprobabilitas dengan menggunakan teknik purposive sampling. Untuk menganalisis data digunakan uji asumsik klasik dan uji regresi linier berganda. Hasil  dari  penelitian  ini  menunjukkan  bahwa  variabel   Return  on   Asset (ROA) berpengaruh positif dan signifikan terdahap Dividend Payout Ratio (DPR), variabel Debt to Equity Ratio (DER) berpengaruh negatif dan tidak signifikan terdahap Dividend Payout Ratio (DPR), dan variabel Asset Growth (AG) berpengaruh negatif dan signifikan terdahap Dividend Payout  Ratio (DPR).  Model  regresi  dalam  penelitian  ini  memiliki  nilai  Adjusted  R  Square sebesar 0,49 yang berarti bahwa variabel Return on Asset (ROA), Debt to Equity Ratio (DER), dan Asset Growth (AG) mempunyai pengaruh sebesar 49% terhadap Dividend Payout Ratio (DPR).  Kata Kunci: Return on Asset, Debt to Equity Ratio, Asset Growth, dan Dividend Payout  Ratio.
PENGARUH DIMENSI KUALITAS PELAYANAN JASA SERVIS TERHADAP KEPUASAN KONSUMEN (Studi pada PT. Kartika Sari Mulia – Toyota Authorized, Malang) Ramadhani, Pristia Hanum; Djazuli, Atim
Jurnal Ilmiah Mahasiswa FEB Vol. 3 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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The research aims to describe and analyze the influence of the dimentions of service quality on customer satisfaction at car servicing service in automotive company PT. Kartika Sari Mulia – Toyota Authorized, Malang. This type of the research is an explanatory research with quantitative approach. Type of the data used in this research are primer data, with 90 sample of visitors  workshop  in  Toyota  Kartika  Sari,  where  the  method  does  not  use  population qualification. The research variables namely; the independent variable is Physical Evidence, Reliability, Responsiveness, Assurance and Empathy. Customer Satisfaction as well as the dependent variable. This study was conducted using multiple linear regression. It can be seen the influence of Physical Evidence, Responsiveness, Assurance and Empathy towards Customer Satisfaction significantly, whereas there is no influence Reliability significantly to Customer Satisfaction.   Keywords:  Physical  Evidence,  Reliability,  Responsiveness,  Assurance,  Empathy,  Customer Satisfaction
PENILAIAN KINERJA KEUANGAN PERUSAHAAN ASURANSI UMUM MENGGUNAKAN EARLY WARNING SYSTEM Rahajeng, Riyan Pinasti; Djazuli, Atim
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 1
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Penelitian ini bertujuan untuk mengetahui kinerja keuangan perusahaan asuransi umum pada tahun 2008-2010 dengan menggunakan Early Warning System yang terdiri dari Rasio Agent’s Balance to Surplus, Rasio Likuiditas, Rasio Biaya Manajemen, Rasio Tingkat Kecukupan Dana, Rasio Beban Klaim, Solvency Margin Ratio, Rasio Pengembalian Investasi, Rasio Cadangan Teknis, dan Rasio Pertumbuhan Premi.Hasil dari penelitian ini menunjukkan perusahaan yang berada dalam kondisi paling baik dilihat dari rasio Agent’s Balance to Surplus-nya adalah perusahaan PT Asuransi Dayin Mitra, Tbk.. Jika dilihat dari rasio likuiditas, perusahaan yang memiliki tingkat likuiditas paling baik adalah perusahaan PT Lippo General Insurance, Tbk.. Selanjutnya pada rasio biaya manajemen, perusahaan PT Panin Insurance, Tbk. Dan Anak Perusahaan adalah perusahaan yang memiliki rasio paling baik. Pada rasio tingkat kecukupan dana, perusahaan yang memiliki rasio paling baik adalah PT Lippo General Insurance, Tbk.. Jika dilihat dari rasio beban klaim, PT AsuransiKata kunci: Penilaian Kinerja, Asuransi, Early Warning System
Multidisciplinary Integration in Modern Management: A Systematic Review of Seven Strategic Perspectives Djazuli, Atim; Syahnur, Muh. Haerdiansyah
Journal Of Applied Multidisiplinary Studies Vol 1 No 2 (2025): Mei 2025
Publisher : Sekolah Tinggi Ilmu Ekonomi Ganesha

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Background: The development of modern management and business science cannot be separated from interdisciplinary interactions and the complexity of global challenges. From classical management theories of the 1960s to the modern era of artificial intelligence (AI) and global crises, both academia and practitioners are increasingly required to adopt an integrative approach. Challenges in digital marketing, financial literacy, economic disruption, and human resource (HR) management demand the unification of diverse perspectives to build a more adaptive and relevant management framework. Objective: This article aims to summarize and synthesize findings from seven key scientific articles to present cross-issue perspectives and approaches that enrich contemporary management theory and practice. This synthesis is expected to identify new integrative patterns that can serve as a conceptual reference for the development of context-based and technology-driven management. Method: A descriptive qualitative approach was used in the form of a literature review of seven scientific articles from reputable international journals, covering topics such as management theory, digital marketing, financial behavior, responses to global crises, and HR systems. Results: The synthesis of the seven articles presented highlights the significant contributions of various management disciplines to modern management. This synthesis connects theory and practice, ranging from classical approaches like Koontz to cutting-edge technologies like AI in marketing. Furthermore, managerial approaches need to be tailored to actual situations and needs, such as in financial education, global policy, and HR management. Overall, this synthesis reflects the importance of cross-scale and cross-disciplinary perspectives—integrating aspects of psychology, technology, economics, and human resources—to form a more comprehensive management framework that is relevant to today's challenges. Conclusion: The synthesis of these seven articles demonstrates that modern management requires cross-disciplinary integration to address the challenges of the digital era, global crises, and organizational transformation. The resulting framework supports the need for management that is adaptive, contextual, and technology-based, while also affirming the importance of harmonizing theory, practice, and the dynamic realities of contemporary organizations.
Batik SMEs In East Java Indonesia: Interrelationship Between Personal Value and Management Skills Towards SMEs Performance in The New Normal Era Murtianingsih, Murtianingsih; Salim, Ubud; Djazuli, Atim; Sudjatno, Sudjatno
Journal of Social Entrepreneurship Theory and Practice Vol. 1 No. 2 (2021): December
Publisher : Research Synergy Foundation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31098/jsetp.v1i2.730

Abstract

The development of Batik SMEs in East Java shows a sector that is highly affected by the pandemic due to the unpreparedness of SMEs to face the pandemic conditions. The need for encouragement from the government and strengthening this sector so that it can develop again and make a positive contribution to the regional and national economy. Managerial aspects and personal values owned by Batik SMEs in East Java are expected to be a reinforcing factor for SMEs in facing a very dynamic environment. The purpose of this study was to determine the relationship between personal values and management skills on the performance of Batik SMEs during the new normal era in East Java, Indonesia. The data used were obtained through a survey using a questionnaire, which was then analyzed by factor analysis, descriptive statistics, Pearson product-moment correlation, and multiple regression. The results of the study stated that there was no relationship between personal values and performance, and there was no relationship between management skills and the performance of Batik SMEs in East Java, Indonesia. This research does not include external factors of the research variables, namely government policies that can be measured by inflation rates and tax policies, as well as Bank Indonesia credit interest rates. This study uses the variable management skills, personal values, and performance of Batik SMEs in East Java during the normal era, which are products with local cultural features.
The Effect of Internet Financial Reporting, Website Information Disclosure Level, Shares Outstanding, Stock Prices, On Stock Trading Frequency Dewi, Kadek Ayu Silvi Septya; Atim Djazuli
Jurnal Management Risiko dan Keuangan Vol. 4 No. 2 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.2.10

Abstract

The objective of this research is to identify the effects of internet financial reporting, website information disclosure level, shares outstanding, and stock prices on the stock trading frequency of LQ45 companies. This explanatory research attempts to identify the relationship between its variables through hypothesis testing. Using purposive technique, 24 companies were selected as the samples. In order to test the proposed hypotheses, multiple linear regression analysis was employed. This research finds that internet financial reporting, website information disclosure level, and stock prices do not have any significant effect on the stock trading frequency of the LQ45 companies, that shares outstanding have a positive and significant effect on the stock trading frequency of the companies, and that internet financial reporting, website information disclosure level, shares outstanding, and stock prices simultaneously have significant impact on the stock trading frequency of the said companies.
The Cost Of Being Green: Does Financial Slack Pave The Way For Sustainable Profitability? Hatiuran, Kezia Agustina; Djazuli, Atim
Jurnal Management Risiko dan Keuangan Vol. 4 No. 4 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.4.01

Abstract

The inconsistency of empirical findings regarding the impact of ESG on financial performance creates a strategic dilemma for companies, in which sustainability investments may risk suppressing short-term profitability. This study aims to analyze the effect of Environmental, Social, and Governance (ESG) scores on the financial performance of non-financial companies listed in the Kompas 100 Index on the Indonesia Stock Exchange (IDX) during the 2020-2024 period, with financial slack as a moderating variable. A total of 105 observations were obtained from 21 sampled companies and analyzed using panel data regression with the Fixed Effect Model (FEM) and Random Effect Model (REM). The results reveal that the aggregate ESG score has a significant effect on financial performance, as measured by Return on Assets (ROA), while the individual ESG pillars (environmental, social, and governance) do not have a significant impact. Furthermore, financial slack significantly moderates the relationship between the aggregate ESG score and financial performance. These findings suggest that financial flexibility serves as a strategic prerequisite for companies to manage ESG initiatives without compromising short-term performance. This implies the importance of considering internal capacity, alongside ESG scores, in evaluating effective sustainability commitments.
Profitability, Leverage, and Firm Size: Their Impact on Stock Price of Property and Real Estate Companies Listed on IDX Harits, Abdul Gamal; Djazuli, Atim
Jurnal Management Risiko dan Keuangan Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2025.04.3.02

Abstract

This study aims to examine and analyze the influence of profitability, leverage, and firm size on stock price. Out of 94 property and real estate companies listed on the Indonesia Stock Exchange from 2020 to 2023, 21 were selected as samples using purposive sampling, resulting in 84 observations. In this study, profitability is measured by Return on Assets, leverage by Debt-to-Equity Ratio, and firm size by total assets. The quantitative data, in the form of numerical figures, were obtained from secondary sources through the official website of the Indonesia Stock Exchange. The results of the multiple linear regression analysis show that (1) profitability has an insignificant effect on stock price, (2) leverage has a significant effect on stock price, and (3) firm size has a significant effect on stock price.
Co-Authors . Djumahir . Djumahir Abanan, M. Zuhri Ramadhani Abrian Amir Rahman Abrian, Gusti Awang Aini, Maya Faridhotul AINUR ROFIQ Al Kautsar, Odi Arifin Sabeni Aster Indah Widowati Aster Indah Widowati Atika, Nurul Bambang Subroto Cicik Retno Wati Dedi Suselo Defin Shahrial Putra Deni, Febrianto Frans Dessy Handa Sari Dewi, Kadek Ayu Silvi Septya Dian Meithasari Djawahir, Helmy Djumahir A Djumahir Djumahir Ericson M Erlin Yulia Rahma Erlin Yulia Rahma Eva Dwi Astutik Eva Dwi Astutik Fabio Putra Wijaya Fadhila, Wildan Fani Wahyu Utomo Feryal Agizha H.M. HARRY - SUSANTO H.M. HARRY - SUSANTO Hanif Rani Iswari Harits, Abdul Gamal Hatiuran, Kezia Agustina Helmy Djawahir Herdina, Ajeng Mira Himmiyatul Amanah Jiwa Juwita Himmiyatul Amanah Jiwa Juwita Ignatia Thomasita Bau Mau Imtiyaz, Muhammad Daffa Izza, Alfiano Kusuma Ratnawati Laili, Choirun Nisful Laksmi Swastika Wardhani Lutfi aji Luthfiyah, Viviani M Taufik Akbar M, Ericson M. Syafi’ie - Idrus M. Syafi’ie - Idrus Made Sudarma Mau, Ignatia Thomasita Bau Mila Diana Sari, Mila Diana Mohammad Reza Muhammad Husnul Hilal Murtianingsih Murtianingsih, Murtianingsih Nabella, Efryca Ayu Najubah, Zian Nawianto, Syaifurridzal Nindya Gitaya Nur Khusniyah Indrawati Odi Al Kautsar P., Moeljadi Pratiwi, Risma Pristia Hanum Ramadhani PUJI ASTUTIK Puji Astutik PUTRI, SELLYNDAH PRIMADANI Rabbani, Riza Rahajeng, Riyan Pinasti Rahman, Abrian Amir Raisa Fitri Ramadhani, Pristia Hanum RIKI RIKI, RIKI Risma Pratiwi Risna Wijayanti Riyan Pinasti Rahajeng Rofiaty, Rofiaty Roni, Hamam S.M. Kiptiyah - - Safina Syabani Aisyah SELLYNDAH PRIMADANI PUTRI Shevanda Febrilia Tamara Sihombing, Ruth Vrinida Sitepu, Rafi Ashari Siti Aisjah SLAMAT HARIJONO ARITONANG Sri Dewi Yusuf Sri Palupi Prabandari Sudjatno, Sudjatno Sumarsono Sumarsono Surachman Surachman Surachman Surachman Suselo, Dedi Syahnur, Muh. Haerdiansyah Tomas Setya Wahyu Budi Ubud Salim Utomo, Fani Wahyu Venus, Muhammad Vincentius Christianto Wahdiyat Moko Wandari, Rosita Wati, Cicik Retno Wildan Fadhila Yovita Leyla Pradipta Yulianti - - Yunita Castelia Arisadi Yusuf, Dimas Maulana