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Fazhar Sumantri
Universitas Bina Sarana Informatika
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Pengaruh Return on Asset, Return on Equity, dan Net Interest margin Terhadap Harga Saham pada PT Panin Bank, Tbk tahun 2006-2023 Latifah, Nurul; Hafizhah, Elma Nurul; Indriani, Sarah Aqiilah; Maslufi, Lulu Zusratul; Sumantri, Fazhar
Jurnal Mirai Management Vol 10, No 1 (2025)
Publisher : STIE AMKOP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/mirai.v10i1.8811

Abstract

Penelitian ini mengkaji lebih mendalam perubahan harga saham PT Panin Bank, Tbk dari tahun 2006 sampai 2023, dengan fokus khusus pada rasio-rasio efisiensi keuangan utama antara lain Return on Asset (ROA), Return on Equity (ROE), dan Net Interest Margin (NIM). Dengan menggunakan pendekatan penelitian kuantitatif yang menggabungkan metode deskriptif dan inferensial, penelitian ini mengandalkan data sekunder yang diambil dari laporan keuangan Panin Bank. Analisis ini menggunakan regresi linier berganda, uji asumsi klasik, uji parsial (uji-t), uji simultan (uji-F), dan koefisien determinasi. Semua melalui pengujian dengan memanfaatkan perangkat lunak SPSS versi 26, dan hasilnya mengindikasikansi bahwa ROA, ROE, dan NIM tidak memengaruhi secara signifikan terhadap harga saham, baik secara individu maupun kolektif. Koefisien determinasi (R2) menunjukkan bahwa rasio-rasio keuangan ini hanya mencakup 23,9% dari varians harga saham. Sebaliknya, faktor eksternal yang tidak termasuk dalam model analitis menjelaskan 76,1% dari total variabilitas harga saham.
Pengaruh ROA, ROE, Dan DER Terhadap Nilai Perusahaan Pada Perusahaan Jasa Properti Hutabarat, William Loro Sae; Fazhar Sumantri; Theysa Sahlani Pratiwi
JRAK (Jurnal Riset Akuntansi dan Bisnis) Vol. 11 No. 2 (2025): JRAK Jurnal Riset Akuntansi dan Bisnis Juli 2025
Publisher : LPPM POLITEKNIK LP3I BANDUNG

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38204/jrak.v11i2.2508

Abstract

The property sector in Indonesia, including companies like PT Adhi Commuter Properti, Tbk, is highly sensitive to fiscal policies, interest rate fluctuations, and market conditions. Over the years 2005 to 2023, the company experienced inconsistent fluctuations in Earning Per Share (EPS) that were not always aligned with changes in its financial ratios, particularly Return on Assets (ROA), Return on Equity (ROE), and Debt to Equity Ratio (DER). This raised concerns about whether these financial indicators reliably reflect the firm’s value. The purpose of this study is to examine how Return on Equity (ROE), Return on Assets (ROA), and Debt to Equity Ratio (DER) affect EPS, which is a measure of business value at PT Adhi Commuter Properti, Tbk. The study uses a causal associative design and a quantitative methodology. Annual financial reports serve as the source of secondary data. Descriptive statistics, multiple linear regression, the partial (t) test, the simultaneous (F) test, the coefficient of determination (R2), and the classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation) are among the analytical methods used. The findings indicate that while ROA, ROE, and DER do not significantly affect EPS on their own, they do significantly affect EPS when combined. The 54.5% coefficient of determination value shows that the independent variables may account for EPS, with the remaining portion being impacted by extraneous variables.
PENGARUH JUMLAH UANG BEREDAR, TINGKAT SUKU BUNGA DAN INDEKS HARGA KONSUMEN TERHADAP INFLASI PERIODE 2017- 2021 Tanial, Bani Hensami; Sumantri, Fazhar; Zahrani, Permata Aulia
Jurnal Ekonomi Bisnis Kompetif Vol 1 No 3 (2022): Strategi Pemasaran, Kinerja Organisasi, dan Perilaku Keuangan: Kajian Multi-Sekto
Publisher : Komunitas Manajemen Kompetitif

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (392.356 KB) | DOI: 10.35446/bisniskompetif.v1i3.1190

Abstract

Penelitian ini bertujuan menganalisis pengaruh jumlah uang beredar, tingkat suku bunga dan indeks harga konsumen terhadap inflasi pada tahun 2017-2021. Metode yang digunakan adalah Analisis regresi linear berganda, koefisien determinasi, uji F dan uji T. Berdasarkan hasil penelitian secara parsial (Uji T) menjelaskan bahwa variabel Jumlah Uang Beredar (X₁) secara parsial berpengaruh signifikan terhadap Inflasi, Tingkat Suku Bunga (X₂) secara parsial tidak berpengaruh signifikan terhadap Inflasi dan Indeks Harga Konsumen (X₃) secara parsial tidak berpengaruh signifikan terhadap Inflasi. Hasil uji signifikan simultan (uji F), menunjukkan bahwa H₄ diterima, karena terdapat pengaruh Jumlah Uang Beredar, Tingkat Suku Bunga, Indeks Harga Konsumen secara simultan terhadap Inflasi.
The Effect of Financial Compensation on Employee Performance : Study Case at Bank SMBC indonesia Daniel , Daniel; Melyani, Melyani; Syabrinildi, Syabrinildi; Kurniawan, Hendra; Sumantri, Fazhar; Solehudin, Didin; Lesmana, Hendra
Journal of Management and Informatics Vol. 4 No. 3 (2025): December Season | JMI: Journal of Management and Informatics
Publisher : University of Science and Computer Technology

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/jmi.v4i3.197

Abstract

This research investigates the effect of financial compensation on employee performance at Bank SMBC Indonesia. Using a quantitative approach, 120 employees were surveyed via a structured questionnaire. Data were analyzed using SPSS 26, including reliability testing, normality analysis, simple linear regression, ANOVA, and coefficient testing. The results show that financial compensation has a significant and positive effect on employee performance, with an R² of 0.479, meaning that compensation accounts for approximately 47.9% of the variance in performance. Suggestions for SMBC Indonesia include optimizing compensation mechanisms, such as performance-based bonuses, to enhance employee productivity.
The Effect of Debt to Assets Ratio, Debt to Equity Ratio, and Current Ratio on the Stock Price of PT Polychem Indonesia Tbk During the Period 2010-2024 Shinta Shintia Dewi; Fazhar Sumantri; Theysa Sahlani Pratiwi
International Journal Multidisciplinary Science Vol. 4 No. 2 (2025): June: International Journal Multidiciplinary Science
Publisher : Asosiasi Dosen Muda Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56127/ijml.v4i2.2143

Abstract

This study aims to analyze the impact of Debt to Assets Ratio (DAR), Debt to Equity Ratio (DER), and Current Ratio (CR) on the stock price of PT Polychem Indonesia Tbk during the period 2010–2024. The Debt to Assets Ratio is used to measure the extent to which the company finances its assets with debt, providing an insight into the company's credit risk. The Debt to Equity Ratio, on the other hand, measures the company’s ability to repay its debts using its own capital. The Current Ratio is used to assess the company’s ability to meet its short-term liabilities. This research employs a quantitative approach using multiple linear regression analysis, processed using SPSS version 27. The sample consists of 15 years of the company's annual reports, with purposive sampling technique. The results of the analysis show that, partially, none of the three ratios—Debt to Assets Ratio, Debt to Equity Ratio, and Current Ratio—significantly affect the stock price of PT Polychem Indonesia Tbk. The t-values for each variable are 0.806 (DAR), -0.169 (DER), and 0.464 (CR), with significance values greater than 0.05 (0.437, 0.869, and 0.651). These findings indicate that these financial ratios are not sufficient to explain the stock price fluctuations of the company during the period under study, which is likely influenced by other factors beyond these ratios.
The Application of AJAX Technology in Web-Based Information Systems to Accelerate Decision Making (Case Study: CV. Suka Mandi) Rahadjeng, Indra Riyana; Handoko, Melyani; Syabrinildi, Syabrinildi; Jatinurcahyo, R; Sumantri, Fazhar; Solehudin, Didin
Journal of Management and Informatics Vol. 5 No. 1 (2026): April Season | JMI: Journal of Management and Informatics
Publisher : University of Science and Computer Technology

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/jmi.v5i1.334

Abstract

This study evaluates the impact of AJAX technology on managerial decision-making performance in a web-based information system at CV. Suka Mandi. Unlike prior studies that focus primarily on system development, this research incorporates an empirical evaluation using a before–and–after comparison approach. The system was developed using the Waterfall model and integrated with AJAX technology to enhance responsiveness and usability. Data were collected through task completion time measurements, the System Usability Scale (SUS), and user performance evaluations. The results show a significant improvement in operational efficiency. The average task completion time decreased from 15.2 minutes to 8.1 minutes (a 46.7% improvement). The task success rate increased from 68% to 92%, while the error rate decreased from 22% to 8%. The usability evaluation produced a SUS score of 82.5, indicating excellent usability. A paired sample t-test confirmed that the improvements are statistically significant (p < 0.05). These findings demonstrate that AJAX technology not only enhances system interactivity but also significantly improves decision-making speed and accuracy. This study contributes by providing empirical evidence that links asynchronous web technology to improvements in managerial performance.
Pengaruh CR, TATO, dan DER terhadap ROA pada PT Mustika Ratu Tbk Periode 2013 – 2024 Edelweis Putri; Elsa Mariska; Imelda Camelia; Maria F; Shelly Fajri; Fazhar Sumantri
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 2 (2026): Mei-Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i2.8808

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh Current Ratio (CR), Total Asset Turnover (TATO), dan Debt to Equity Ratio (DER) terhadap Return on Assets (ROA) pada PT Mustika Ratu Tbk. Penelitian ini menggunakan pendekatan kuantitatif dengan metode deskriptif. Data yang digunakan merupakan data sekunder berupa laporan keuangan PT Mustika Ratu Tbk selama periode penelitian dengan jumlah observasi sebanyak 12 data. Teknik analisis data menggunakan analisis regresi linear berganda dengan bantuan program SPSS versi 21. Hasil penelitian menunjukkan bahwa secara parsial Current Ratio tidak berpengaruh signifikan terhadap Return on Assets dengan nilai signifikansi sebesar 0,834. Total Asset Turnover juga tidak berpengaruh signifikan terhadap Return on Assets dengan nilai signifikansi sebesar 0,879. Debt to Equity Ratio tidak berpengaruh signifikan terhadap Return on Assets dengan nilai signifikansi sebesar 0,905. Secara simultan, Current Ratio, Total Asset Turnover, dan Debt to Equity Ratio tidak berpengaruh signifikan terhadap Return on Assets dengan nilai signifikansi uji F sebesar 0,948. Nilai koefisien determinasi (R²) sebesar 0,042 menunjukkan bahwa variabel independen hanya mampu menjelaskan 4,2% variasi Return on Assets, sedangkan sisanya dipengaruhi oleh faktor lain di luar penelitian. Penelitian ini menyimpulkan bahwa Current Ratio, Total Asset Turnover, dan Debt to Equity Ratio belum mampu menjelaskan profitabilitas perusahaan yang diproksikan dengan Return on Assets pada PT Mustika Ratu Tbk.
Pengaruh Current Ratio, Return On Assets, Dan Debt To Assets Ratio Terhadap Earnings Per Share Pada Pt Mustika Ratu Tbk Periode 2004-2024 Putry Febrianty; Fazhar Sumantri; Theysa Sahlani Pratiwi
RIGGS: Journal of Artificial Intelligence and Digital Business Vol. 5 No. 2 (2026): Mei-Juli
Publisher : Prodi Bisnis Digital Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/riggs.v5i2.9425

Abstract

PT Mustika Ratu Tbk merupakan perusahaan nasional yang memproduksi jamu, kosmetik, dan bahan perawatan kecantikan. Penelitian ini bertujuan menguji dan menganalisis pengaruh Current Ratio (CR), Return on Assets (ROA), dan Debt to Asset Ratio (DAR) secara parsial maupun simultan terhadap Earnings Per Share (EPS) pada PT Mustika Ratu Tbk periode 2004–2024. Penelitian kuantitatif ini memanfaatkan data sekunder dari laporan keuangan tahunan PT Mustika Ratu Tbk periode 2004–2024. Analisis data menerapkan uji asumsi klasik dan regresi linear berganda untuk mengukur hubungan antar variabel. Secara parsial, CR berpengaruh signifikan terhadap EPS (sig. 0,000 < 0,05; t-hitung 4,304 > t-tabel 2,110) dan ROA berpengaruh signifikan terhadap EPS (sig. 0,003 < 0,05). Sebaliknya, DAR tidak mempengaruhi EPS secara signifikan (sig. 0,946 > 0,05; t-hitung 0,068 < t-tabel 2,110). Secara simultan, CR, ROA, dan DAR berdampak signifikan terhadap EPS (F-hitung 14,643 > F-tabel 3,20; sig. < 0,05). Tingkat likuiditas (CR) dan profitabilitas (ROA) menjadi determinan utama yang mengendalikan fluktuasi laba per lembar saham. Namun, proporsi utang terhadap aset (DAR) tidak menjadi indikator pertimbangan bagi investor dalam menilai potensi keuntungan perusahaan. CR dan ROA terbukti menstimulasi peningkatan EPS, sedangkan DAR tidak menunjukkan kontribusi ilmiah yang signifikan. Manajemen perusahaan wajib senantiasa mengoptimalkan pengelolaan aset lancar dan profitabilitas guna mendongkrak nilai pasar saham di masa depan yang cerah.
PENGARUH TOTAL ASSET TURNOVER (TATO), FIRM SIZE DAN DEBT TO EQUITY RATIO (DER) TERHADAP PROFITABILITAS PERUSAHAAN PADA PT. PANCA GLOBAL KAPITAL TBK PERIODE 2010-2024 Sania Eka Putri; Rahma NiaIvanka; Nadiatuz Zahra; Muhamad Rafi Ibrahim; Farrel Rasendrya Hartanto; Fazhar Sumantri
Jurnal Daya Saing Vol. 12 No. 2 (2026): JURNAL DAYA SAING (JDS)
Publisher : Komunitas Manajemen Kompetitif

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35446/dayasaing.v12i2.2873

Abstract

This study aims to analyze the influence of Total Asset Turnover (TATO), Firm Size, and Debt to Equity (DER) on corporate profitability, as measured by Return on Asset (ROA), at PT Panca Global Kapital Tbk for the period 2010-2024. The research is grounded in profitability theory and financial ratio analysis, which posits that asset management efficiency, firm scale, and capital structure can affect a company’s ability to generate profits. The methodological approach employed is quantitative, characterized by descriptive and verificative elements. Secondary data in the form of the company’s annual financial reports, sourced from the official company website, were utilized. Data analysis was conducted using classical assumption test, multiple linear regression, coefficient of determination test, t–test, f-test, facilitated by IBM SPSS Statistic 27 software. The findings indicate that TATO and Firm Size exert a positive and significant influence on ROA. Simultaneosly, the three independent variables significantly influence corporate profitability, with a coefficient and firm value of 98%. This study concludes that asset management efficiency and firm scale constitute key factors in enhancing corporate profitability.
Pengaruh LDR, NPL, dan BOPO Terhadap ROA Pada PT Bank Tabungan Negara (BTN) Selama Periode 2021-2024 Maulana Aditya; Gianina Almeira; Cahya Kurniawati; Intan Kamiela; Alim Lestari; Fazhar Sumantri
IDEI: Jurnal Ekonomi & Bisnis Vol 6 No 2 (2025): DECEMBER 2025
Publisher : Insan Doktor Ekonomi Indonesia (IDEI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38076/ideijeb.v6i2.397

Abstract

Penelitian ini bertujuan untuk menguji pengaruh Loan to Deposit Ratio (LDR), Non Performing Loan (NPL), dan Beban Operasional Pendapatan Operasional (BOPO) pada Return on Assets (ROA) pada laporan keuangan triwulanan PT Bank Tabungan Negara (Persero) Tbk tahun 2021–2024. Uji normalitas, heteroskedastisitas, autokorelasi, dan multikolinearitas merupakan beberapa uji asumsi klasik yang digunakan dalam analisis regresi linier berganda. Berdasarkan temuan penelitian, ROA dipengaruhi secara signifikan negatif oleh BOPO, tetapi tidak secara signifikan oleh LDR maupun NPL. Pada saat yang sama, ROA dipengaruhi secara signifikan oleh tiga variabel independen, dengan nilai Adjusted R Square sejumlah 96,7%. Hasil ini menerangkan bahwa efektivitas operasional memegang peranan penting dalam menentukan profitabilitas bank.This study aimed to examine the effect of the Loan to Deposit Ratio (LDR), Non-Performing Loans (NPL), and Operating Expense to Operating Income (BOPO) on Return on Assets (ROA) using the quarterly financial statements of PT Bank Tabungan Negara (Persero) Tbk. for the period 2021–2024. Normality, heteroscedasticity, autocorrelation, and multicollinearity tests were conducted as part of the classical assumption tests in the multiple linear regression analysis. Based on the research findings, ROA was significantly negatively affected by BOPO, while LDR and NPL did not have a significant effect. At the same time, ROA is influenced considerably by three independent variables, with an adjusted R Square value of 96.7%. This result suggests that operational effectiveness plays a crucial role in determining bank profitability.
Co-Authors Achmad Ridwan Achmad wildan Aditya Prasetyo Aditya, Maulana Alfia Dwi Damayanti Alim Lestari Almeira, Gianina Alvandy Agung P.M Amelia Putri Yuniarti Amzar, Fadillah Andi Asrul Anggraeni, Laela Anisa Fitri Annisa Aprisila Handini Annisa Rahayu Anugrah, Wahyu Putra Arini Arini Auliah, Firdah Aurelia Hamzah, Chika Bryan Givan Bunawi Kirom Cahya Eni Cahya Kurniawati Chaerina Chaerina Chandradoni, Dhimas Dahlia Apriliawati Damanhuri, Muhammad Ikhsan Daniel , Daniel Daniel Daniel Danni Maulana Danny, Galang Rachmat Dawai, Eriana Dea Ratna Puspita Dewi, Shinta Shintia Dhelvia Devitha Shalihah Dian Indah Sari Diva Dwi Fadilla Duta Andriansyah Dwi Apriliani Edelweis Putri Edgar Prasetyo Elisabeth Karamoy Elsa Mariska Fadilah, Ahmad Ridho Farrel Rasendrya Hartanto Febiyana, Fina Feby Angriawan Latumanase Fina Febiyana Florentina Seno, Maria Gianina Almeira Gita Wulandari Hafizhah, Elma Nurul Halizah, Zahwa Nur Handoko, Melyani Hardiyanto Hardiyanto Hasna Nur Salsabila Helmy Ivan Taruna Hendra Lesmana humaira Hutabarat, William Loro Sae Ikbal, Maulana Imelda Camelia Indra Riyana Rahadjeng Indriani, Sarah Aqiilah Intan Kamiela Intan Septiani Irwansyah, Dea Putri Ivontiana Nganus Jatinurcahyo, R Jelita, Anggun Jumiati Jumiati Kamiela, Intan Khoerun Nadia Zulpa Kurniawati, Cahya Lestari, Alim Lia Ameliawati Mahadi Alkautsar Manalu, Theresia Yosevani Maria F Marwah Nurinayah Maslufi, Lulu Zusratul Maulana Aditya Maulidia Farhatun Maulidia Hilmiar Maya Anggraeni Melyani Melyani Melyani Melyani, Melyani Muhamad Rafi Ibrahim Muhammad - Muhammad Fauzan Adityan Muhammad Heriansyah Muhammad Jovan Edliansyah Muhammad Rizqi Mu’mina Mu’mina Nabila, Anastacia Nadiatuz Zahra Naila Salsabilla Najwa Jawas Nanda Hamidah Natal Indra Nayla Olivia Diandra Neva Adhelia Putri Nurinayah, Marwah nurul latifah Nurwijayanti Pratiwi, Theysa Sahlani Putri Sesa Lestari An Putry Febrianty Putry Kania A Rahma NiaIvanka Rahmania Apriliani Rauddina Alyani Refo Putra Pangestu Rendi Muhamad Dahlan Reska Neta Febriyana Rizky Saputra Robby Rabanni Rafsanjani Rohim Setiawan Sabrina Nur Aulia Salsabila Nurrochmat Salsabila, Hasna Nur Salsabilla Salsabilla Sania Eka Putri Saukani, Hilman Septi Sartika Sari Serlinda Gusmella Shelly Fajri Shinta Shintia Dewi Shofwatun Nida Sindi Setyowati Siti Ainur Rahmah Siti Livka Hadinia Soliha Solehudin, Didin Sucipto, Rakhmat Hadi Sudrajat, A. Susanti Susanti Syabrinildi, Syabrinildi Syafirah Alawiyah Tanial, Bani Hensami Tasya Kurnia Theysa Sahlani Pratiwi Theysa Sahlani Pratiwi Tri Utami TRI WIDIASTUTI Trisna Fajar Prasetyo Tufik Hidayat Umi Latifah Umi Latifah Umi Latifah Utami, Elva Damita Wahyu Nugroho Yemima Christy, Ulina Zahra Zahrani, Permata Aulia Zulpa, Khoerun Nadia