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Analysis of Factors Affecting Dividend Policy in the IDX High Dividend 20 Companies Listed on the Indonesia Stock Exchange (IDX) During the Period of 2019-2023 Irkham, Nuriyah; Hartono, Ulil; Haryono, Nadia Asandimitra
TRANSEKONOMIKA: AKUNTANSI, BISNIS DAN KEUANGAN Vol. 5 No. 2 (2025): March 2025
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/transekonomika.v5i2.878

Abstract

Deciding on how to distribute net income to shareholders or reinvest it for business operations is a crucial strategic move known as dividend policy. The focus of this research is to examine the influencers affecting dividend policy within businesses listed in the IDX High Dividend 20 on the Indonesia Stock Exchange from 2019 to 2023. The analyzed factors consist of the current ratio, debt-to-equity ratio, return on assets, and firm size. A quantitative method with a descriptive-analytical framework is utilized in the study. Information is gathered from the yearly financial statements of 18 chosen businesses from the total of 20 companies in the IDX High Dividend 20 group. Information gathering is carried out using various record-keeping techniques, while an assortment of linear regression is utilized for data examination. It has been revealed through the findings that the proportions of the present resources to liabilities and the magnitude of the company do not notably impact how dividends are managed. Conversely, the level of debt relative to equity and the return generated on assets have a notable beneficial impact on the dividend strategy. The calculation of the determination coefficient presents that approximately 14% of the fluctuation in dividend strategy can be accounted for by the independent factors, with the rest being influenced by external elements not covered in this research. This research contributes to understanding the factors influencing dividend policy in Indonesia, particularly among companies that focus on high dividend distribution.
STUDENTS' SAVING BEHAVIOUR: WHAT ARE THE MOTIVES THAT INFLUENCE THEM TO SAVE? Hartono, Ulil; Isbanah, Yuyun
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol. 11 No. 3 (2022): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Tanjungpura

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (539.714 KB) | DOI: 10.26418/jebik.v11i3.56561

Abstract

This study aims to determine the determinants of saving behavior using financial literacy as a mediating variable. The endogenous variable in this study was saving behavior, while the exogenous variables were financial literacy, parental socialization, peer influence, and self-control. The respondents were 300 students from the Faculty of Economics of Indonesia. Data were analyzed by Structural Equation Modelling (SEM) using STATA software. The results show that parental socialization and peer influence positively affect financial literacy, whereas self-control does not. Financial literacy directly affects saving behavior. Parental socialization and peer influence directly influence saving behavior. The results provide a new understanding of the importance of financial literacy in encouraging student-saving behavior. The role of parents and peers in the environment is essential for improving students"™ financial literacy and saving behavior. The banking industry can play a role in increasing financial literacy through collaboration with universities through a virtual account program and the socialization of savings to students. It is also an opportunity for saving service providers to introduce their products to consumers early.JEL : G41, G410.ABSTRAKTujuan penelitian ini untuk mengetahui determinan dari saving behaviour dengan menggunakan financial literacy sebagai variabel mediasi. Variabel endogen dalam penelitian ini adalah saving behaviour sedangkan variabel eksogen, yaitu financial literacy, parental socialization, peer influence, dan self-control. Responden penelitian ini adalah 300 mahasiswa Fakultas Ekonomi di Indonesia. Data dianalisis dengan Structural Equation Modeling (SEM) menggunakan software STATA. Hasil penelitian menunjukkan bahwa parental socialization dan peer influence berpengaruh positif terhadap financial literacy, sedangkan self-control berpengaruh negatif terhadap financial literacy. Financial literacy juga terbukti berpengaruh secara langsung pada saving behaviour. Parental socialization dan peer influence juga memiliki pengaruh langsung pada saving behaviour. Penelitian ini memberikan pemahaman baru mengenai pentingnya literasi keuangan untuk mendorong perilaku menabung bagi mahasiswa. Peran orang tua dan teman sebaya menjadi faktor penting dalam menumbuhkan literasi keuangan dan perilaku menabung mahasiswa. Industri perbankan dapat berperan dalam meningkatkan financial literacy melalui kerjasama dengan universitas dalam bentuk program virtual account sekaligus untuk sosialisasi tabungan ke mahasiswa. Ini juga menjadi peluang bagi penyedia layanan tabungan untuk memperkenalkan produknya ke konsumen lebih dini.Kata Kunci: literasi keuangan, peer influence, parental socialization, self-control, saving behaviour.
FASILITASI PERENCANAAN PROGRAM DAN PENGEMBANGAN DESA WISATA DI DESA SEPANDE, KECAMATAN CANDI, KABUPATEN SIDOARJO Artanti, Yessy Artanti; Andre Dwijanto Witjaksono; Sanaji; Ulil Hartono; Harlina Meidiaswati; Faiz Bahalwan; Nadya Tiara Santi Widodo
BUDIMAS : JURNAL PENGABDIAN MASYARAKAT Vol. 7 No. 3 (2025): BUDIMAS : Jurnal Pengabdian Masyarakat
Publisher : LPPM ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/budimas.v7i3.18532

Abstract

Kegiatan Pengabdian kepada Masyarakat (PKM) di Desa Sepande, Kecamatan Candi, Kabupaten Sidoarjo, dilaksanakan untuk mengatasi keterbatasan kapasitas sumber daya manusia, lemahnya perencanaan strategis, dan minimnya pemahaman masyarakat terkait pengembangan desa wisata. Tujuan utama kegiatan ini adalah memperkuat kemampuan perangkat desa, BUMDes, dan pelaku usaha dalam melakukan pemetaan potensi, menyusun program pengembangan desa wisata, mengelola hubungan dengan stakeholder, serta membangun strategi place branding. Metode pelaksanaan meliputi pelatihan terstruktur dan pendampingan intensif yang terdiri atas identifikasi masalah, penyampaian materi, simulasi, serta monitoring dan evaluasi. Pelatihan diikuti 15 peserta dan disajikan melalui empat materi yang menghasilkan sejumlah produk perencanaan, termasuk pemetaan potensi desa, rancangan Rencana Pengembangan Lima Tahun (2026–2030), Program Kerja Tahunan, strategi mengelola hubungan stakeholder, dan konten digital branding. Hasil kegiatan menunjukkan peningkatan kapasitas peserta dalam memahami konsep pengembangan desa wisata serta meningkatnya kesiapan desa dalam melaksanakan program wisata berbasis potensi lokal, terutama Tempe dan Batik sebagai sektor unggulan. Tingginya tingkat kepuasan peserta menegaskan bahwa kegiatan PKM berjalan efektif dan memiliki potensi keberlanjutan dalam mendukung Desa Sepande menuju desa wisata yang mandiri. Kata kunci: BUMDes, desa wisata, perencanaan strategis, pemberdayaan masyarakat, place branding
Pengaruh Money Attitude Dan Parental Socialization Terhadap Financial Well-Being Dengan Financial Behavior Sebagai Variabel Mediasi Pada Individu Menikah Di Kota Surabaya Karina Nindya Krisdiana; Ulil Hartono; Harlina Meidiaswati
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 1 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i1.9899

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Money Attitude dan Parental Socialization terhadap Financial Well-Being dengan Financial Behavior sebagai variabel mediasi pada individu menikah di Kota Surabaya. Penelitian ini dilatarbelakangi oleh pentingnya kesejahteraan finansial sebagai indikator stabilitas ekonomi keluarga serta peran faktor psikologis dan sosial dalam pembentukannya. Pendekatan kuantitatif digunakan dengan metode survei menggunakan kuesioner terhadap 187 responden yang dipilih melalui teknik purposive sampling. Analisis data dilakukan menggunakan Partial Least Square-Structural Equation Modeling (PLS-SEM). Hasil penelitian menunjukkan bahwa Money Attitude dan Parental Socialization berpengaruh positif terhadap Financial Behavior dan Financial Well-Being, baik secara langsung maupun tidak langsung melalui Financial Behavior sebagai variabel mediasi. Temuan ini memperkuat Theory of Planned Behavior, Family Financial Socialization Theory, serta Contingency Theory yang menegaskan pentingnya keselarasan antara nilai, sikap, dan perilaku dalam mencapai kesejahteraan finansial. Dengan demikian, penelitian ini menekankan bahwa kesejahteraan finansial bukan hanya ditentukan oleh tingkat pendapatan, tetapi juga oleh sikap dan perilaku keuangan yang sehat dan terarah
Bank Profitability Analysis: the Role of Liquidity, Company Size, Asset Quality, and Leverage Ulil Hartono; Desi Nurvitasari
MATRIK: JURNAL MANAJEMEN, STRATEGI BISNIS, DAN KEWIRAUSAHAAN Vol. 17 No. 2 (2023)
Publisher : Faculty of Economics and Business Udayana University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/MATRIK:JMBK.2023.v17.i02.p07

Abstract

Banks are one of the most important sectors for a country’s economic growth, so banks must be appropriatelymanaged. The success of bank management is reflected in resulting profitability. This research aims to analysethe effect of liquidity, firm size, asset quality, and leverage on bank profitability in 2017-2021. The populationin this study is 27, and the sample is 25, which was selected using purposive sampling. This study uses secondarydata from Bank financial reports obtained from the bank website. The result shows that liquidity and companysize did not affect profitability, while asset quality and leverage affected profitability. This research implies thatmanager banks must pay attention to asset quality and leverage by considering the 5C principle in assessingcreditworthiness.
Global Market Indices and Macroeconomic Determinants of The Indonesia Composite Index (IHSG): Evidence from 2019–2024 Siti Mi'danur Rahmah; Ulil Hartono; Nadia Asandimitra Haryono
Jurnal Manajemen Vol. 17 (2026): Special Issue 2: Call for Paper International E-Conference Management & Small Medium
Publisher : UPT Jurnal & Publikasi Ilmiah SPs Universitas Ibn Khaldun Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32832/jm-uika.v17i2.22990

Abstract

The increasing integration of global financial markets has intensified the vulnerability of emerging stock markets to external shocks and macroeconomic instability. The Indonesia Composite Stock Price Index (IHSG), as a key indicator of capital market performance, has experienced significant fluctuations during the 2019–2024 period, particularly amid the COVID-19 crisis, global monetary tightening, and commodity price volatility. These conditions raise important questions regarding the extent to which global stock indices and macroeconomic variables influence IHSG movements. This study investigates the effects of the Dow Jones Index, Hang Seng Index, exchange rate (USD/IDR), inflation rate, interest rate, global gold price, and Brent crude oil price on the IHSG using monthly time-series data from January 2019 to December 2024 (72 observations). A quantitative associative approach is applied through multiple linear regression analysis, following classical assumption tests to ensure model reliability. The findings indicate that the Dow Jones Index, exchange rate, inflation, interest rate, and Brent crude oil price significantly affect the IHSG. The Dow Jones Index, inflation, interest rate, and oil prices exhibit positive effects, whereas the exchange rate has a negative effect. Meanwhile, the Hang Seng Index and global gold prices do not show significant influences. The regression model explains approximately 91.5% of IHSG variation, demonstrating strong explanatory power. Overall, the results highlight the importance of global market integration and macroeconomic stability in determining stock market performance in Indonesia.  
PDIA-Assisted MYOB and Financial Statement Skills In Vocational Education: PDIA Berbantuan MYOB dan Keterampilan Laporan Keuangan Di SMK Sriyani Sriyani; Ulil Hartono; Sri Setyo Iriani; Luthfiyah Nurlaela; I Gusti Putu Asto Buditjahjanto; Rommy Mochammad Ramdhani; Salim Salim
Jurnal Pendidikan Akuntansi Indonesia Vol. 24 No. 1 (2026): Jurnal Pendidikan Akuntansi Indonesia
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21831/jpai.v24i1.95933

Abstract

This study examines the effect of the Problem-Driven Iterative Adaptation (PDIA) approach assisted by Mind Your Own Business (MYOB) software on students’ financial statement preparation skills and analyzes the moderating role of learning interest. This research employed a quasi-experimental design using a non-equivalent control group pretest–posttest approach involving 60 vocational accounting students divided into experimental and control groups. Data were collected through practical tests and questionnaires and analyzed using independent samples t-test and moderated regression analysis. The results show that students taught using PDIA assisted by MYOB achieved significantly higher financial statement preparation skills than those in conventional learning (Sig. < 0.05). Furthermore, learning interest has a positive and significant moderating effect, strengthening the relationship between PDIA-assisted MYOB and students’ skills. These findings indicate that integrating problem-based iterative learning with accounting software effectively enhances students’ technical competencies, particularly for those with higher learning interest. Therefore, the PDIA-assisted MYOB approach can be considered an effective instructional strategy in vocational accounting education. Keywords: PDIA, MYOB, Financial Statement Preparation Skills, Learning Interest,  vocational accounting education
Pengaruh Financial Knowledge, Financial Attitude, Dan Digital Financial Literacy Terhadap Financial Behavior Pengguna E-Payment Di Provinsi Jawa Timur Shela Dwi Widhya Sari; Ulil Hartono; Harlina Meidiaswati
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 5 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/99bkj628

Abstract

This study aims to analyze the influence of financial knowledge, financial attitude, and digital financial literacy on the financial behavior of Generation Z e-payment users in the Gerbangkertosusila area, East Java Province. The study is motivated by the increasing use of digital payment services that require individuals to manage their finances wisely in the digital era. This research employed a quantitative approach using a survey method. Data were collected through questionnaires distributed to 264 respondents selected using purposive sampling techniques. The analysis method used was Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results indicate that financial knowledge, financial attitude, and digital financial literacy have a positive and significant effect on financial behavior. Digital financial literacy was found to have the strongest influence on financial behavior among Generation Z e-payment users. These findings support the Theory of Planned Behavior, Social Cognitive Theory, and Human Capital Theory, which explain that financial behavior is influenced by cognitive, attitudinal, and literacy factors. This study implies that improving financial literacy and financial attitudes can encourage more responsible financial behavior in the digital financial environment.
Leadership Dynamics and Employee Voice in Improving Employee Performance Kasno Kasno; Ulil Hartono; Rega Ababil
Cakrawala Repositori IMWI 97-107
Publisher : Institut Manajemen Wiyata Indonesia & Asosiasi Peneliti Manajemen Indonesia

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

Abstract

This study aimed to analyze the influence of leadership, employee voice behavior, and emotional exhaustion on employee performance at KSP Teratai Mas Lumajang. Employee performance is a crucial factor in achieving organizational goals, particularly in cooperative institutions that rely heavily on the quality of human resources in delivering services to members. Issues related to leadership, low employee participation in expressing ideas, and emotional exhaustion were considered to affect employee performance. This study used a quantitative approach with multiple linear regression analysis. Data were obtained by distributing questionnaires to all employees of KSP Teratai Mas Lumajang. A saturated sampling technique was used, involving 48 respondents. Data analysis was conducted to determine the influence of independent variables on employee performance, both partially and simultaneously. The results showed that leadership had a positive and significant effect on employee performance. Employee voice behavior also had a positive and significant effect on employee performance, indicating that employees who actively expressed ideas and suggestions could improve organizational performance. Meanwhile, emotional exhaustion had a negative and significant effect on employee performance, meaning that higher levels of emotional exhaustion were associated with lower employee performance.
Pengaruh Capital Structure, Activity Ratio, Sales Growth, Firm Size, Dan Inflasi Terhadap Financial Distress Pada Perusahaan Sector Technology Yang Terdaftar Di BEI Periode 2021 - 2024 Syifa Aulia Mahadevi; Ulil Hartono; Nadia Asandimitra Haryono
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 6 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/wvcy7y44

Abstract

This study examines the effect of capital structure, activity ratio, sales growth, firm size, and inflation on financial distress in technology sector companies listed on the Indonesia Stock Exchange during 2021-2024. The research uses a causal quantitative design with secondary data from annual reports, financial statements, and official inflation data. Financial distress is measured using the Springate S-Score and converted into a dummy variable, where 1 indicates distress and 0 indicates non-distress. Using purposive sampling, 28 companies were selected from 47 technology firms, producing 112 firm-year observations. The data were analyzed using binary logistic regression with Stata 17. The results show that 42 observations or 37.5% were classified as distressed. The model passed the Hosmer-Lemeshow test, achieved 78.57% classification accuracy, and produced an AUC of 0.8565. Activity ratio, firm size, and inflation have a significant negative effect on financial distress, while capital structure and sales growth are not significant. The findings indicate that asset efficiency and company scale are more decisive in reducing financial distress risk than debt structure or sales expansion alone.
Co-Authors Abqari, Lingga Sundagumilar Achmad Kautsar Achyarsyah, Mochamad Aeraafi, Hasnaning Monica Alfansyah Surya Pratama Amelia, Afifah Nur Anang Kistyanto Andiny, Dhela Widy Andre Dwijanto Witjaksono Angwen Cahyani, Anggur Aura Vestaliva Mahera Azhariyah, Anjumul Bagus Pribadi, Bagus Baskoro Langgeng Pamuji Budiono Budiono Damaiyanti, Arif Fera Danik Indriastuti Surya Ningrum Depi Milayati, Depi Desi Nurvitasari Desi Nurvitasari Dewi, Angdriani Puspita Dewie Tri Wijayati Dewie Trie Wijayati Dita Ayusnia Pramudyani Dyana Novita Taristy Faiz Bahalwan Fandi Fathoni Fandi Fatoni Hardiyanti, Andhini Agustine Harlina Meidiaswati Heny Hendrayati Heru Arizal Hidayat, Febrian Satria I Gusti Putu Asto Buditjahjanto Ika Diyah Candra Arifah Intan Tri Letiana Irkham, Nuriyah Jamik Jamik Jihan Arij Nisrina Karina Nindya Krisdiana Kasno Kasno Luthfiyah Nurlaela Marhaeningtyas, Dian Marimon, Frederic Muhammad Rizky Ramadhan Musdholifah Musdholifah Musdholifah MUSDHOLIFAH MUSDHOLIFAH Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Musdholifah Muzharoatiningsih Muzharoatiningsih Nabiilah, Irfani Azzah Nadia Asandimitra Haryono Nadia Seprena Devi Nadya Tiara Santi Widodo Nugraha, Egananda Septian Nur Anisah Pitaloka, Puspa Ayu Prabowo, Sony Ilham Purwohandoko Purwohandoko Puspaaji, Defy Maulida Putit, Lennora R.A. Sista Paramita Refiana Dwi Maghfiroh Rega Ababil Riska Dhenabayu Rommy Mochammad Ramdhani Rozaq, Khoirur Salim Salim SANAJI Sanaji, Sanaji Sari, Andini Sari, Windy Puspita Shela Dwi Widhya Sari Shela Monika Siti Mi'Danur Rahmah Sri Setyo Iriani Sriyani Sriyani Sriyani SUSANTI Syifa Aulia Mahadevi Taristy, Dyana Novita Tri Rijanto Trias Madanika Kusumaningrum Winda Rizky Amalia Witjaksono , Andre Dwijanto Wulandari, Yulita Yessy Artanti Yessy Yessy Yulianto, Naufal Alief Yuyun Isbanah Yuyun lsbanah Zulfialdi, M. Farid