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Big Data Technology Moderates the Effect of Financial Fundamentals on Firm Value in Indonesia's Technology Sector Renaldo, Nicholas; Elvina, Vivi; Chandra, Teddy; Veronica, Kristy; Junaedi, Achmad Tavip; Jahrizal, Jahrizal
Jurnal Ilmiah Akuntansi Vol 10 No 1 (2025)
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/jia.v10i1.95421

Abstract

The volatility of firm value in Indonesia’s technology sector—driven by fluctuating financial fundamentals such as leverage, liquidity, and profitability, alongside the accelerating role of big data adoption—highlights the urgent need to investigate how digital transformation moderates the relationship between financial indicators and firm value to ensure competitiveness and sustainability in capital markets. This research seeks to examine the impact of leverage, liquidity, and profitability on company valuation, with big data technology serving as a moderating variable, in technology sector firms listed on the IDX from 2019 to 2023. The advantage of this study lies in its focus on utilizing big data technology as a moderating variable assumed to influence corporate valuation. Secondary data were employed, and a purposive sampling technique was applied, resulting in a sample of 16 firms. Data were analyzed using multivariate linear regression and interaction regression analysis with SPSS software as the analytical tool. The results indicate that leverage has a positive impact on firm value, liquidity has a favorable effect on firm value, and profitability exerts a constructive influence on firm value. However, big data technology does not directly affect firm value, nor does it moderate the relationship between leverage and firm value or between liquidity and firm value. Nevertheless, big data technology strengthens the positive effect of profitability on firm value.
CSR Moderation in the Influence of Intellectual Capital and Transformational Leadership on Organizational Performance I Gusti Ayu Asri Pramesti; Nicholas Renaldo; Ni Putu Yuria Mendra; Ida Ayu Budhananda Munidewi
IECON: International Economics and Business Conference Vol. 3 No. 2 (2025): International Conference on Economics and Business (IECON-3)
Publisher : www.amertainstitute.com

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65246/4whgqg53

Abstract

The Village Credit Institution (LPD) is an institution managed by the laws and regulations of Bali. The LPD promotes the traditional village economy in economic, social, and cultural aspects. This study aims to analyze the role of CSR in strengthening intellectual capital and transformational leadership on organizational performance. This study used 246 LPD heads as respondents from 246 LPD in Bali Province. Data was collected by distributing questionnaires and interviews with some LPD heads. Data were analyzed using a structural equation model with the Partial Least Squares application. The results indicate that intellectual capital has a positive influence on LPD performance. Transformational leadership has a positive influence on LPD performance. CSR does not strengthen intellectual capital and transformational leadership in organizational performance. The findings suggest that LPD with transformational leaders and intellectual capital are crucial for maintaining the sustainability of LPD. This study has limitations in the direct distribution of questionnaires because respondents were reluctant to fill them out via Google Forms. This study has implications that can expand knowledge and provide information for LPD by considering intellectual capital and transformational leadership in improving organizational performance and sustainability. 
Innovation of Business Models and Financial Feasibility of Etawa Goat Cultivation Integrated with Organic Farming Jahrizal, Jahrizal; Dalil, M.; Junaedi, Achmad Tavip; Tendra, Gusrio; Renaldo, Nicholas
International Journal of Social Science and Business Vol. 9 No. 1 (2025): February
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v9i1.94018

Abstract

Goat farming holds significant potential as a sustainable livestock business, yet traditional methods often face challenges related to scalability and long-term sustainability. Many conventional farming practices rely heavily on key individuals without structured business strategies, making them vulnerable to discontinuity. To address these issues, a modern and structured business model is necessary. This study aims to explore development strategies for implementing integrated organic farming in Etawa goat cultivation. Using a qualitative approach, this research employs the Business Model Canvas (BMC) framework and financial feasibility analysis to evaluate the viability of the business. The findings reveal that Etawa goat farming can be successfully established and expanded through a well-defined BMC approach, which ensures business sustainability and competitiveness. Furthermore, financial feasibility analysis supports the economic viability of the venture, indicating its potential for long-term profitability. By integrating these strategic tools, Etawa goat farming can achieve sustainable growth, enhancing both productivity and market resilience.
Accuracy of A Deep Learning Model in Retinal Imaging Analysis for The Early Detection of Diabetic Retinopathy in A Southeast Asian Population: A Diagnostic Validation Study Deivita, Yan; Bahmid Hasbullah; Aby Riestanti; Lita Umiputriani Gai; Nicholas Renaldo
International Journal of Public Health Excellence (IJPHE) Vol. 5 No. 1 (2025): June-December
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijphe.v5i1.1625

Abstract

Background: Diabetic retinopathy (DR) represents a leading cause of preventable blindness in Southeast Asia, where diabetes prevalence continues rising dramatically. Deep learning models show promising diagnostic accuracy for DR detection, yet validation in Southeast Asian populations remains limited. Objective: To evaluate the accuracy and clinical applicability of a deep learning model for early DR detection through comprehensive qualitative analysis in Indonesian healthcare settings. Methods: A mixed-methods diagnostic validation study was conducted across three Indonesian provinces from January 2023 to December 2024. The study employed a convolutional neural network-based deep learning model trained on 15,000 retinal images for DR classification. Qualitative data collection included semi-structured interviews with 30 ophthalmologists, 20 primary care physicians, 15 healthcare administrators, and 40 patients. Thematic analysis explored stakeholder perspectives on diagnostic accuracy, implementation barriers, and clinical integration potential. Results: The deep learning model demonstrated 89.3% accuracy (95% CI: 86.7-92.1%), 91.7% sensitivity, and 87.1% specificity for detecting referable DR. Qualitative analysis revealed high stakeholder acceptance (87.5% patient trust, 90.0% physician interest) despite implementation concerns. Key themes included diagnostic accuracy validation needs, workflow integration challenges, infrastructure requirements, and cost-effectiveness potential. Primary barriers included image quality standardization, internet connectivity limitations, and regulatory approval processes. Conclusion: Deep learning models demonstrate promising diagnostic performance for DR screening in Southeast Asian populations, with strong stakeholder support for implementation. However, successful deployment requires addressing infrastructure limitations, regulatory frameworks, and clinician training needs. These findings support the potential for AI-enhanced DR screening to improve early detection outcomes in resource-constrained healthcare systems across Southeast Asia.
Unearthed Treasures by Unlocking the Secrets of Forgotten Cash through Dynamic Cash Flow Analysis Renaldo, Nicholas; Sudarno, Sudarno; Hughes, Amy; Smith, Harry; Schmidt, Matthias
Luxury: Landscape of Business Administration Vol. 2 No. 1 (2024): Luxury: Landscape of Business Administration
Publisher : First Ciera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61230/luxury.v2i1.75

Abstract

Cash flow is an important aspect of company finances which reflects the company's financial health and ability to fulfill its financial obligations. Cash flow statements allow stakeholders to understand how cash flows are generated and used in a given period. This research aims to gain an in-depth understanding of cash flow management, financial innovation, risk management, and modern business practices. Through a qualitative approach with literature studies, this research explains various aspects related to cash flow, starting from definitions, classifications, and problems that may occur, to the analysis techniques used. There are three main categories in the cash flow report, namely operating, investing, and financing activities. Cash flow problems can occur in the form of a deficit, break-even, or surplus. Cash flow analysis includes various ratios that measure a company's financial performance, such as operating cash flow/net sales, free cash flow, and other ratios. The results and discussion highlight the cash flow analysis techniques used, such as the calculation of operating cash flow/net sales and free cash flow, as well as various ratios that measure a company's financial performance. This research concludes that cash flow analysis is an important key in understanding company finances and making better strategic decisions. Cash flow statements help identify potential financial problems and ensure the long-term continuity of a company's operations. As suggestions for future research, this study suggests exploring the impact of technology in cash flow management, the influence of financial innovation on cash flow, risk management strategies, dividend policies, best practices in cash flow management, comparison of methods for preparing cash flow reports, the influence of tax policy, and the impact of CSR on cash flow.
PENGARUH GOOD CORPORATE GOVERNANCE (GCG) TERHADAP PROFITABILITAS DAN NILAI PERUSAHAAN PADA PERUSAHAAN SEKTOR CONSUMER GOODS YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017 - 2021 Suyono, Suyono; Renaldo, Nicholas; Suhardjo, Suhardjo; Andi, Andi; David, David
Bilancia : Jurnal Ilmiah Akuntansi Vol 7 No 2 (2023): Bilancia : Jurnal Ilmiah Akuntansi
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/bilancia.v7i2.3433

Abstract

ABSTRACT The aim is to find out and analyze the effect of institutional ownership, the board of commissioners, the board of directors and the audit committee and profitability (ROE) can affect firm value (PBV). This research was conducted on consumer goods sector companies listed on the Indonesia Stock Exchange during the period 2016 to 2019. The population is 57 companies. Determination of the sample in this study using a purposive sampling technique, namely determining the sample based on certain criteria, then the number of samples used in this study were 43 companies. Data analysis using multiple linear regression. The results of the research on institutional ownership have a positive and insignificant effect, while the commissioners have a negative and significant effect, the board of directors has a positive and significant effect and the audit committee has a negative and insignificant effect on profitability. While institutional ownership has a negative and insignificant effect on firm value, the board of commissioners has an effect, audit committee and profitability has a negative and significant effect on firm value and the board of directors has a positive and significant effect on firm value, Keywords: Institutional Ownership; Board of Commissioners; Board of Directors and Audit Committee and Profitability (ROE) Can Affect Company Value (PBV) ABSTRAK Tujuan untuk mengetahui dan menganalisis pengaruh kepemilikan institusional, dewan komisaris, dewan direksi dan komite audit serta profitabilitas (ROE) dapat mempengaurhi nilai perusahaan (PBV). Penelitian ini dilakukan pada perusahaan sektor consumer good yang terdaftar di Bursa Efek Indonesia selama periode 2016 sampai 2019. Populasi berjumlah 57 perusahaan. Penentuan sampel dalam penelitian ini menggunakan teknik purposive sampling yaitu penentuan sampel berdasarkan kriteria tertentu, maka jumlah sampel yang digunakan dalam penelitian ini sebanyak 43 perusahaan. Analisis data menggunakan regresi linier berganda. Hasil penelitian kepemilikan institusional berpengaruh positif dan tidak signifikan, sementara komisaris berpengaruh negatif dan signifikan, dewan direksi berpengaruh positif dan signifikan dan komite audit berpengaruh negatif dan tidak signifikan terhadap profitabilitas. Sedangkan kepemilikan institusional berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan, dewan komisaris berpengaruh, komite audit dan profitabilitas negatif dan signifikan terhadap nilai perusahaan serta dewan direksi berpengaruh positif dan signifikan terhadap nilai perusahaan, Kata Kunci : Kepemilikan Institusional; Dewan Komisaris; Dewan Direksi Dan Komite Audit Serta Profitabilitas (ROE) Dapat Mempengaurhi Nilai Perusahaan (PBV).
THE EFFECT OF PROFITABILITY, FIRM SIZE AND LEVERAGE ON LIQUIDITY OF COMPANIES LISTED IN THE LQ45 INDEX OF INDONESIAN STOCK EXCHANGE IN THE PERIOD OF 2017-2022 Hocky, Agus; Renaldo, Nicholas
Bilancia : Jurnal Ilmiah Akuntansi Vol 8 No 3 (2024): Bilancia : Jurnal Ilmiah Akuntansi
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/bilancia.v8i3.4515

Abstract

This study objective is to determine the effect of profitability, firm size and leverage on liquidity of listed companies in the LQ45 index in Indonesian Stock Exchange (IDX). Eighteen (18) firms from the LQ45 over a period of 6 years from 2017 to 2022 were taken as samples by purposive sampling. Data analysis uses multiple linear regression methods using SPSS. The study found that there is a negative and significant relationship between firm size and leverage on liquidity. The relationship between profitability and liquidity was found to be positive. This study displays the indirect relations between the variables to the pecking order theory and signaling theory. Furthermore, this study pushes the importance of managing profitability and leverage so that an optimal liquidity in the firm can be achieved. Keywords: Profitability, Leverage, Firm Size, LQ45, Liquidity Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas, ukuran perusahaan dan leverage terhadap likuiditas pada perusahaan yang tercatat dalam indeks LQ45 di Bursa Efek Indonesia (BEI). Sebanyak 18 (delapan belas) perusahaan dari LQ45 selama kurun waktu 6 tahun dari tahun 2017 sampai dengan tahun 2022 diambil sebagai sampel secara purposive sampling. Analisis data menggunakan metode regresi linier berganda menggunakan SPSS. Penelitian ini menemukan bahwa terdapat hubungan negatif dan signifikan antara ukuran perusahaan dan leverage terhadap likuiditas. Hubungan antara profitabilitas dan likuiditas ditemukan positif. Penelitian ini menunjukkan hubungan tidak langsung antara variabel-variabel tersebut dengan pecking order theory dan signaling theory. Lebih lanjut, penelitian ini mendorong pentingnya pengelolaan profitabilitas dan leverage sehingga likuiditas yang optimal pada perusahaan dapat tercapai. Kata Kunci: Profitabilitas, Leverage, Ukuran Perusahaan, LQ45, Likuiditas
Strategi Menurunkan Turnover Intention Akuntan Pada Kantor Jasa Akuntansi Pekanbaru Tahun 2021 Nicholas Renaldo; Rizaldi Putra; Suhardjo; Suyono; Ienne Yoseria Putri
Jurnal Aplikasi Bisnis dan Manajemen Vol. 8 No. 2 (2022): JABM Vol. 8 No. 2, Mei 2022
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.8.2.588

Abstract

To retain the best talent in order to stay in the Accounting Services Office (ASO), good human resource management is an important part to compete with competitors through its accountants, especially in Pekanbaru city. The purpose of this study was to analyze the effect of Green Human Resources Management (GHRM) on turnover intention. The data collection method used in this study was through a questionnaire that was distributed to 122 accountants at KJA in Pekanbaru City which would be tested for the feasibility of the questionnaire before further analysis. The data analysis method used path analysis and sensitivity tests. The results of this study indicate that green training and development, green compensation, and green performance assessment each have a positive and significant effect on green organizational commitment. The variables of green training and development, green compensation, green performance assessment, and green organizational commitment each have a negative and significant effect on turnover intention. Sensitivity testing also showed consistent results. Green performance assessment has the biggest direct and indirect effect on turnover intention. Organizations pay attention to objectivity in evaluating employee performance so as not to lose the best employees in the organization. Organizations must also pay attention to green organizational commitment because it can mediate the three exogenous variables on turnover intention. Organizations must be able to maintain the commitment that has been embedded in the minds of employees so that they want to remain in the organization. Keywords: turnover intention, GHRM, path analysis, sensitivity tests, ASO
Digital Transformation Strategy to Enhance Consumer Trust in Apple Cider Vinegar Products through Quality, Legality, and Digital Education Renaldo, Nicholas; Junaedi, Achmad Tavip; Suhardjo, Suhardjo; Panjaitan, Harry Patuan; Purnama, Intan; Jahrizal, Jahrizal; Yovita, Indri; Veronica, Kristy; Musa, Sulaiman; Wahid, Nabila
Interconnection: An Economic Perspective Horizon Vol. 2 No. 2 (2024): Interconnection: An Economic Perspective Horizon
Publisher : First Ciera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61230/interconnection.v2i2.121

Abstract

The increasing popularity of Apple Cider Vinegar (ACV) as a health supplement has created opportunities for Micro, Small, and Medium Enterprises (MSMEs) in the health product market. However, issues such as exaggerated health claims, inconsistent product quality, lack of regulatory certifications, and insufficient consumer education have contributed to declining trust among digital consumers. This study explores how digital transformation can enhance consumer trust in ACV products through a qualitative approach involving in-depth interviews with ACV producers and digital content analysis. The findings reveal that many producers lack standardization in quality control, face challenges in obtaining legal certification (BPOM, halal), and underutilize digital platforms for health education. As a solution, the study proposes a strategic framework based on a digitally adapted Business Model Canvas, which integrates transparent product labeling, educational digital content, and trust signals such as verified reviews and interactive consumer engagement. This digital strategy not only strengthens brand credibility but also addresses health risks associated with improper ACV use, promoting safer and more informed consumption. The research contributes to the literature on digital business strategies for functional health products and provides a practical roadmap for MSMEs to build consumer trust through quality, legality, and education.
Development of IoT-Based Accounting System for Automatic Environmental Data Monitoring Susanti, Wilda; Renaldo, Nicholas; Chandra, Teddy; Tendra, Gusrio; Veronica, Kristy; Ramadhani, Ramadhani; Ramdani, Ramdani; Panjaitan, Harry Patuan; Junaedi, Achmad Tavip; Purnama, Intan
Interconnection: An Economic Perspective Horizon Vol. 2 No. 2 (2024): Interconnection: An Economic Perspective Horizon
Publisher : First Ciera Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61230/interconnection.v2i2.122

Abstract

This study aims to develop an IoT-based accounting system called Smart Eco Ledger to automatically monitor and record environmental data for use in environmental accounting reports. The system integrates sensors (e.g., temperature, humidity, CO₂), a microcontroller (ESP32), cloud storage (Firebase), and a user-friendly web dashboard. It enables real-time monitoring, automatic data logging, and simple report generation for environmental performance tracking. The results showed that the system works accurately, with high user satisfaction scores in usability testing. This innovation bridges the gap between environmental monitoring and accounting practices by eliminating manual input and increasing data reliability. The novelty of this research lies in the integration of IoT technology with environmental accounting in real-time, supported by cloud systems and interfaces accessible to accounting professionals. Although testing was limited to indoor conditions and a small sample size, the system shows potential for wider adoption. Future research may include sensor expansion, blockchain integration, mobile access, and AI-based forecasting. The Smart Eco Ledger contributes to sustainable accounting practices and demonstrates a practical solution for organizations committed to environmental responsibility and digital transformation.
Co-Authors Aby Riestanti Achmad Tavip Junaedi Ahmad Rafa'i Alan Alfred Yang Alkhairi, M. Habib Aminuyati Amries Rusli Tanjung Amries Rusli Tanjung Andi Andi Andi Andi Andi Andi Andi Andi Anggi Firmansyah Anton Anton Anton Anton Anton Aprilia, Bord Nandre Arlia Asri Ady Bakri Astuti Dara Anjeli Augustine, Yvonne Aulia Ramadhani Bahmid Hasbullah Cecilia Cecilia Cecilia, Cecilia Dadi Komardi Dalil, M Dalil, M. Dara, Chenda Darmasari, Ria David David Deivita, Yan Dhea Anggelina Dilahk Yladbla Dodi Sofyan Arief, Dodi Sofyan Eddy, Pujiono Efi Rofianto Hia Elvina, Vivi Emiliana Shania Meta Nahak Endah Prawesti Ningrum Eny Retna Ambarwati Fadrul Fadrul Fadrul, Fadrul Farnila, Vera Fazal Mohamed Mohamed Sultan Fitri Yani Fitri Yani Fransisca Hanita Rusgowanto Fransisca, Luciana Geovanie, Geovanie Gusrio Tendra Hadi, Syukri Hairudin, Hairudin Haristan, Meiviana Harrison, Edward Harry Patuan Panjaitan Hilas, Rajah Abdulqadir Hinsatopa Simatupang Hocky, Agus Horsiando, Eric Hughes, Amy Hutahuruk, Marice Br I Gusti Ayu Asri Pramesti Ida Ayu Putu Sri Widnyani Ienne Yoseria Putri Ienne Yoseria Putri Indri Yovita Intan Purnama Intan Purnama Irwan Effendi Irwan Irwan Jahrizal James Jelia Juventia Jenny Angelica Jessen, Jessen Kiri, Ming Komardi, Dadi Koto, Jaswar Kristy Veronica Kudri, Wan Muhamad Layla Hafni Lestari, Dania Ayu Lita Umiputriani Gai Luciana Fransisca Luciana Fransisca Mahdi Mahdi Marice Br Hutahuruk Marlim, Yulvia Nora Mary Onasis Hasri Massaguni, Masnita Meyer, Kaspar Mimelientesa Irman Muhammad Adrian Agusta Muhammad Pringgo Prayetno Muhammad Ridwan Mukhsin Mukhsin Munidewi, Ida Ayu Budhananda Musa, Sulaiman MUTHMAINNAH Muthmainnah Nabila Hestia Nabila Wahid Namso Ukanahseil Napitupulu, Ryan Pardomuan Ni Putu Yuria Mendra Nicholas, Eric Niken Widyastuti Niken Widyastuti Novita Yulia Putri Nuonnad, Diaz Othman Nuriman M. Nur Nyoto Nyoto Nyoto Nyoto, Nyoto Nyoto, Rebecca La Volla Octasylva, Annuridya Rosyidta Pratiwi Octavellyn, Shierly Okalesa, Okalesa Okšav, Nitram Panggabean, Jessylane Prayetno, Muhammad Pringgo Prihastomo, Arih Dwi Priyono Pujiono Eddy Purba, Jansaris Othniel Purnama, Intan Puspita, Tuwilin Maladewi Putri, Novita Yulia Putu Wenny Saitri Rahman, Sarli Ramadani, Yulita Ramadhani Ramadhani Ramdani Ramdani Rebecca La Volla Nyoto Reilly, William Remy, Adrian Rezenebe Ngameyga Udab Ria Puspitasari Rizaldi Putra Rizaldi Putra Robert David Rozalia, Dwi Kirtapati Rusilawati, Ermina Sabrina Sabnah Sally Santoso, Pamuji Hari Sarli Rahman Schmidt, Matthias Septi, Iti Setyawan, Onny Sevendy, Tandy Siti Ngatikoh Smith, Harry Sofyanto, Sofyanto Sriadmitum, Ike Stevany Stevany Suci Fitria Sari Sudarmanto, Eko Sudarno Sudarno Sudarno Sudarno Sudibyo, Yvonne Augustine Sugiyarti, Listya Suhardjo Suhardjo Suhardjo Suharti Suharti Suharti Suharti Suranto, Agung Surikin Surya Safari SD Susantriana Dewi Susantriana Dewi Sutandijo, Sutandijo Suyono Suyono SUYONO Suyono Suyono Suyono Suyono Syahputra, Hidayat T, Dominicus Josephus Swanto Tandy Sevendy Tandy Sevendy Taylor, John Alexander Teddy Chandra Thaief, Ilham Tjahjana, Dominicus Josephus Swanto Tuti Dharmawati Veronica, Kristy Vomizon, Rodle Wahid, Nabila Wati, Yenny Widi, Rahma Wijaya, Boyke Wijaya, Febriana Wendy Wilda Susanti William William Yu, Hou Yulia Fitri Yuni Shara Sitompul Yusnidar Yusnidar Yusrizal Yusrizal Yusrizal Yusrizal Yusrizal