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THE EFFECT OF FAMILY OWNERSHIP, AGENCY COST, ENVIRONMENTAL PERFORMANCE, CORPORATE SOCIAL RESPONSIBILITY ON FIRM VALUE Putri, Naomi Hansen; Cahyadi, Hadi
International Journal of Application on Economics and Business Vol. 1 No. 4 (2023): November 2023
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v1i4.2277-2291

Abstract

In today's dynamic and competitive business conditions, companies must be able to adapt and have the ability to compete so that company goals can be achieved. Company goals can be reflected through the ability to increase company value. This study aimed to examine the effect of family ownership, agency costs, environmental performance, and corporate social responsibility on firm value with financial performance as mediation. The population of this study were food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2020-2022. The sample in this study used a purposive sampling method and data analysis techniques using SmartPLS 4.0 by testing the direct and indirect effects between the independent and dependent variables. The results showed that family ownership has a significant effect on firm value, agency costs have a significant effect on firm value, corporate social responsibility has a significant effect on firm value, financial performance has a significant effect on firm value, but environmental performance has no significant effect on firm value. Then, family ownership and corporate social responsibility have no significant effect on financial performance, while agency costs and environmental performance have a significant effect on financial performance. Furthermore, based on research on indirect effects, financial performance does not mediate the influence of family ownership, agency costs, environmental performance, and corporate social responsibility on firm value.
THE EFFECT OF CORPORATE GOVERNANCE, DIVIDEND POLICY, CONSERVATISM, AND LIQUIDITY ON THE VALUE OF FAMILY MANUFACTURING COMPANIES IN INDONESIA STOCK EXCHANGE Wijaya, Henryanto; Cahyadi, Hadi; Salim, Susanto; Morgan, Christopher Elihu Billy
International Journal of Application on Economics and Business Vol. 1 No. 4 (2023): November 2023
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v1i4.2613-2625

Abstract

This study aims to determine whether corporate governance (which includes the board of commissioners and audit committee), dividend policy, conservatism, and liquidity affect firm value. This research will produce outputs in the form of scientific articles that are expected to be beneficial for parties who need them, such as helping internal companies to increase company value and helping investors to make decisions before investing, and being able to predict company value by looking at its financial statements, especially in related indicators. As well as useful as a reference for future researchers. Given the number and breadth of problems that must be solved, the researchers limit the issues examined in this study. It starts from the variables used, namely the dependent and independent variables. The research will be conducted for three years, from 2018 to 2020, using a family manufacturing company. It was listed on the Indonesia Stock Exchange (IDX). Researchers will use quantitative research methods, where this research is research used to examine populations and samples, using secondary data obtained from the IDX through the website www.idx.co.id and the company's website. Existing data will be entered into Microsoft Excel 2010 and processed using EViews version 11. In this study, researchers used the Non-Probability Sampling technique in taking samples, where the method does not provide equal opportunities for each population. Data collection for 2018-2020 is expected to provide the latest data.
FAKTOR YANG MEMPENGARUHI FINANCIAL PERFOMANCE PADA FAMILY BUSINESS PROPERTY AND REAL ESTATE Danny, Mario Gho; Cahyadi, Hadi
Jurnal Paradigma Akuntansi Vol. 5 No. 2 (2023): April 2023
Publisher : Fakultas Ekonomi, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jpa.v5i2.23646

Abstract

The purpose of this study is to test empirically the effect of good corporate governance and capital structure in family business in property and real estate companies listed on the Indonesia Stock Exchange for the period 2017 - 2020. This study uses data from 14 family business in property and real estate companies that have been selected using the purposive sampling method. with a total of 56 data for four years. The data used are secondary data in the form of financial reports. This research data processing using the program SPSS version 24. The results showed that the family ownership, family involvement in bod and capital structure were negative and not significant effect on financial performance, family involvement in boc has a positive and significant effect on financial performance. The implication of this research is the involvement of commissioner in supervision is the main key for the future of the company, how the commisioner need to oversees the actions or decisions of the directors. The existence of supervision from the commissioners is able to create a good influence on the company’s financial performance on decisions made by the directors.
FAKTOR-FAKTOR YANG MEMPENGARUHI KINERJA PERUSAHAAN Tanuwijaya, Suwandhi; Cahyadi, Hadi
Jurnal Paradigma Akuntansi Vol. 6 No. 4 (2024): Oktober 2024
Publisher : Fakultas Ekonomi, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jpa.v6i4.32386

Abstract

The purpose of the study was to obtain empirical evidence regarding the effect of leverage, firm size, managerial stock ownership, audit committee, and asset structure on firm performance. The study used 117 data samples from manufacturing companies listed on the Indonesia Stock Exchange during the 2018-2020 period. The research uses Microsoft Office 365 and Eviews 12 software in terms of data processing. The results obtained from the study are that leverage has a negative effect on company performance, firm size has a negative effect on company performance, managerial share ownership has a negative effect on company performance, audit committees have a positive effect on company performance, and asset structure has a negative effect on company performance.
FAMILY CONSTITUTION UNTUK PT. ARTHA TRIMITRA EXPOTAMA Cahyadi, Hadi; Rich, Kelly; Ovelia
Jurnal Serina Abdimas Vol 1 No 1 (2023): Jurnal Serina Abdimas
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jsa.v1i1.23916

Abstract

PT Artha Trimitra Expotama is a company engaged in interior contractors and international exhibitions located in Jakarta and has become a trusted partner of global brands such as Sony, Asus and Samsung. Bylaws, family endowment, investment, distribution of funds, philanthropy, and counterparts. ART, are the rules or guidelines that underlie the implementation of the budget in a family, organization or business. Management, Investment and administration of the Family Endowment Fund shall be managed centrally through the family office, which office will be supervised by an Executive Member and authorized to take all appropriate actions necessary to implement the policies and strategies regarding Family Endowments. PKM implemented using the FGD method is a method and technique of collecting data or information that was originally developed in marketing research. FGD is used to find out the implementation of the company's household budget. By using FGDs, in a relatively short time (quickly) one can explore perceptions, opinions, attitudes, motivations, knowledge, problems and expectations for changes related to certain issues. The achievement target of this community service activity is to increase PT Artha Trimitra Expotama's ability to implement the Bylaws in the company's costs and increase profitability. We plan to carry out this series of activities from August 2022 – December 2022. PT Artha Trimitra Expotama adalah sebuah perusahaan yang bergerak dibidang kontraktor interior dan pameran internasional yang berada di Jakarta dan sudah menjadi mitra terpercaya dari merek global seperti Sony, Asus dan Samsung. Anggaran Rumah Tangga, family endowment, investas, distribusi dana, filantropi, dan counterparts. ART, adalah peraturan atau pedoman yang mendasari pelaksanaan anggaran dalam sebuah keluarga, organisasi, atau bisnis. Manajemen, Investasi dan pengelolaan Dana Abadi Keluarga harus dikelola secara terpusat melalui kantor keluarga, kantor mana yang akan diawasi oleh Anggota Eksekutif dan berwenang untuk mengambil semua tindakan yang sesuai yang diperlukan untuk menerapkan kebijakan dan strategi mengenai Pemberkahan Keluarga. PKM dilaksanakan dengan metode FGD merupakan metode dan teknik pengumpulan data atau informasi yang awalnya dikembangkan di dalam penelitian pemasaran. FGD digunakan untuk mengetahui implementasi anggaran rumah tangga perusahaan. Dengan menggunakan FGD, dalam waktu relatif singkat (cepat) dapat digali mengenai persepsi, pendapat, sikap, motivasi, pengetahuan, masalah dan harapan perubahan berkaitan dengan masalah tertentu. Target capaian dari kegiatan pengabdian masyarakat ini adalah peningkatan kemampuan PT Artha Trimitra Expotama dalam melakukan implementasi Anggaran Rumah Tangga dalam perusahaan biaya dan meningkatkan profitabilitas. Serangkaian kegiatan ini kami rencanakan akan dilakukan mulai bulan Agustus 2022 – Desember 2022.
PENINGKATAN IDENTITAS DAN RELEVANSI KLENTENG LI TIE GUAI MELALUI PERNYATAAN MISI YANG EFEKTIF Cahyadi, Hadi; Kho, Christian; Aurelia, Ophilia
Jurnal Serina Abdimas Vol 1 No 3 (2023): Jurnal Serina Abdimas
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jsa.v1i3.26210

Abstract

ABSTRACT The goal and target to be achieved in this PKM activity is the renewal of an effective and clear mission statement to improve the identity and relevance of Li Tie Guai Temple (Partner). The development of the times makes the core values and goals of the organization can change over time. This can affect changes in the values and goals espoused by Li Tie Guai Temple. For this reason, our team offers a solution to Partners in the form of updating the mission statement with the aim of increasing the identity and relevance of the temple by adjusting to the times. The method of implementation is to conduct observations and interviews with partners, then identify the core values and goals of Partners to develop a new mission statement that is appropriate and effective that will be implemented for partners. Our team will conduct a forum group discussion (FGD) to obtain relevant information, then we will socialize the new mission statement to the management and congregation of the temple by holding a meeting or special event to convey the mission statement, and explain the meaning and importance of the mission statement. After socializing the mission statement to the temple management and congregation, we assessed that the new mission statement is relevant to the core values and goals of the temple so that the temple has a guide that can be used when carrying out an activity to achieve their vision and mission. We conducted this PKM activity from January 2023 to June 2023. ABSTRAK Tujuan serta target yang ingin dicapai dalam kegiatan PKM ini adalah pembaharuan pernyataan misi yang efektif dan jelas untuk meningkatkan identitas dan relevansi Klenteng Li Tie Guai (Mitra). Adanya perkembangan zaman membuat nilai-nilai inti dan tujuan organisasi bisa berubah-ubah seiring dengan berjalannya waktu. Hal tersebut dapat mempengaruhi perubahan nilai-nilai dan tujuan yang dianut oleh Klenteng Li Tie Guai. Untuk itu, tim kami menawarkan solusi kepada Mitra berupa pembaruan terhadap pernyataan misi dengan tujuan untuk meningkatkan identitas dan relevansi klenteng dengan menyesuaikan pada perkembangan zaman. Metode pelaksanaan yang dilakukan adalah melakukan kegiatan observasi dan wawancara dengan mitra, lalu mengidentifikasi nilai-nilai inti dan tujuan Mitra untuk menyusun pernyataan misi baru yang sesuai dan efektif yang akan diimplementasikan untuk mitra. Tim kami akan melakukan forum group discussion (FGD) untuk mendapatkan informasi-informasi yang relevan, lalu kami akan melakukan sosialisasi pernyataan misi baru kepada pengurus dan jemaah klenteng dengan mengadakan pertemuan atau acara khusus untuk menyampaikan pernyataan misi, serta menjelaskan makna dan arti penting dari pernyataan misi tersebut. Setelah melakukan sosialisasi pernyataan misi kepada pengurus dan jemaah klenteng, kami menilai bahwa pernyataan misi baru relevan dengan nilai-nilai inti dan tujuan klenteng sehingga klenteng mempunyai panduan yang dapat digunakan ketika menjalankan suatu kegiatan untuk mencapai visi misi mereka. Kegiatan PKM ini kami lakukan mulai dari bulan Januari 2023 sampai dengan bulan Juni 2023.
Competitive Differentiation Through Sustainability: Bank Jago’s Strategic Response to Inter-Firm Competition Hadi Cahyadi; Yohana F. Cahya Palupi Meilani; Ardi Ardi
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 5 (2025): Proceedings of the 5th International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to analyze the strategic responses of Bank Jago, a leading digital bank in Indonesia, to the evolving competitive landscape shaped by fintech innovation and regulatory dynamics. Employing a qualitative case study approach, this research draws on Bank Jago’s annual reports, industry analyses, and news sources, applying PESTEL, Porter’s Five Forces, SWOT, SPACE matrix, and Strategic Sustainability frameworks to comprehensively evaluate the bank’s external environment, competitive position, internal capabilities, and competitive differentiation through sustainability. The findings indicate that Bank Jago benefits from supportive government policies, rapid technological advancements, and a growing urban, tech-savvy customer base, while facing challenges such as stringent regulatory requirements, rising competition from regional fintech firms, and economic volatility. Strategic partnerships, particularly with fintech platforms like Gojek, and innovative digital banking services such as the ‘Pockets’ feature, have strengthened Bank Jago’s market position. The SPACE matrix analysis suggests an aggressive strategic posture, emphasizing growth and innovation to capitalize on market opportunities. The study concludes that Bank Jago’s adaptive strategies, focused on digital transformation, customer-centric innovation, regulatory compliance, and environmental sustainability, will be pivotal for its sustained competitive advantage and expansion in Indonesia’s digital banking sector.
AI-Driven Optimization of Pulsed DC Sputtering for Enhanced Indium Tin Oxide Films Hamdan, Hamdan; Cahyadi, Hadi; Vaher, Kristina; Ratih, Arista
International Transactions on Artificial Intelligence Vol. 4 No. 1 (2025): November
Publisher : Pandawan Sejahtera Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33050/italic.v4i1.931

Abstract

The performance of heterojunction silicon solar cells strongly depends on the quality of the Transparent Conductive Oxide (TCO) layer, particularly Indium Tin Oxide (ITO), which governs both lateral charge transport and optical coupling. Despite its industrial relevance, achieving low-resistivity and high transmittance ITO at low thermal budgets remains a manufacturing challenge. This study aims to identify and optimize the key pulsed DC magnetron sputtering parameters that govern the structural, electrical, and optical properties of ultra-thin ITO films suitable for heterojunction applications. A systematic experimental approach was implemented by varying discharge power, oxygen partial pressure, deposition temperature, and post-deposition annealing conditions using an inline industrial sputtering system. The results show that moderate discharge power, controlled oxygen incorporation, and substrate temperatures around 180 ◦C significantly enhance film densification and electron transport. Under the optimized parameter set, the ITO films achieved low resistivity in the range of (4.6–5)×10−4 Ω·cm and visible-light transmittance above 90%, while annealing at 160 ◦C further reduced defect density and stabilized electrical per- formance. These findings demonstrate that high-quality ITO can be produced within the thermal constraints of heterojunction silicon technologies and provide a robust foundation for integration into automated or AI-assisted sputtering control frameworks. Overall, this work supports the development of scalable, energy-efficient, and industrially viable fabrication routes for next-generation photovoltaic devices.
FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN KELUARGA SEKTOR KESEHATAN DI BURSA EFEK INDONESIA Christiana, Jesslyn; Cahyadi, Hadi
Jurnal Paradigma Akuntansi Vol. 7 No. 4 (2025): Oktober 2025
Publisher : Fakultas Ekonomi, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jpa.v7i4.34734

Abstract

This research aims at understanding the role of capital structure. liquidity, and growth on firm value mediated by profitability on healthcare sector family business listed on the Indonesia Stock Exchange during 2019-2022. Sample was selected using the method purposive sampling and number of firms used as samples amount to 9 firms. Data was processed using PLS-SEM analysis on data processing application SmartPLS 4.0.9.3 and Microsoft Excel 2013. The results of this study indicate that capital structure, liquidity and profitability has positive significant effect, while growth has negative insignificant effect on firm value. Profitability is able to mediate relationship between liquidity and growth on firm value, but not between capital structure on firm value. The implication of this study is the need of adequate capital structure, liquidity and profitability management in healthcare sector family businesses for those are the main factors affecting firm valuation.
PENGARUH PROFITABILITAS, PELUANG PERTUMBUHAN, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN DIMEDIASI STRUKTUR MODAL Berenice, Muliawati; Cahyadi, Hadi
Jurnal Paradigma Akuntansi Vol. 7 No. 4 (2025): Oktober 2025
Publisher : Fakultas Ekonomi, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jpa.v7i4.35284

Abstract

This study aims to analyze the effect of profitability, growth opportunities, and liquidity on company value in family companies in the property & real estate sector listed on the Indonesia Stock Exchange in 2019-2021. The selection of the sample in this research was carried out using a purposive sampling technique. The samples obtained in this study were 29 companies with a period of three years. Data processing techniques in this study used the SmartPLS 4.0.8.4 and Microsoft Excel programs. The results showed that profitability and liquidity do not significantly effect on capital structure, and growth opportunities had a positive and insignificant effect on capital structure. Profitability and capital structure have a positive and insignificant effect on firm value, growth opportunities and liquidity do not significantly effect the value of a company. Profitability has no significant effect on firm value mediated by capital structure, growth opportunities have an insignificant effect on firm value mediated by capital structure, and liquidity has a negative and insignificant effect on firm value mediated by capital structure.