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All Journal Jurnal Akuntansi & Auditing Indonesia Jurnal Media Informasi Manajemen Jurnal Ekonomi Modernisasi Abdimas Talenta : Jurnal Pengabdian Kepada Masyarakat Journal of Education, Humaniora and Social Sciences (JEHSS) EKUITAS (Jurnal Ekonomi dan Keuangan) MABIS: Manajemen dan Bisnis Dinamika Governance : Jurnal Ilmu Administrasi Negara JURNAL AKUNTANSI KEUANGAN DAN MANAJEMEN Enrichment : Journal of Management International Journal of Educational Review, Law And Social Sciences (IJERLAS) Sibatik Journal : Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Jurnal Manajemen Stratejik dan Simulasi Bisnis Jurnal Akuntansi dan Keuangan International Journal of Accounting & Finance in Asia Pasific Proceedings of The International Conference on Business and Economics Journal of Social Science Journal of Business Management Indatu Journal of Management and Accounting Asian Multidisciplinary Research Journal of Economy and Learning Proceeding Of International Conference On Education, Society And Humanity
Khaira Amalia Fachrudin
Fakultas Ekonomi Dan Bisnis, Universitas Sumatera Utara, Medan
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Health Professions Immunology & microbiology Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Mathematics Physics Public Health Social Sciences Other

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Determinants of Intrinsic Value in Plantation Companies: An Analysis of Palm Oil Productivity, Firm Size, and Financial Performance on Indonesia Stock Exchange: English Rina Sitepu, Dewinta; Fachrudin, Khaira Amalia; Bulan Siregar, Narumondang
Asian Multidisciplinary Research Journal of Economy and Learning Vol. 1 No. 6 (2024): December 2024
Publisher : CV. ARGA FARMA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70471/yy9p8k06

Abstract

The palm oil industry is a cornerstone of Indonesia’s economy, contributing significantly to GDP, exports, and employment. As the largest global palm oil producer, Indonesia supports a vast international market but faces challenges related to productivity and sustainability. This study investigates the influence of productivity, firm size, profitability, liquidity, and leverage on the intrinsic value of plantation companies listed on the Indonesia Stock Exchange (IDX) from 2018–2022. Employing a quantitative methodology, panel data regression analysis was applied to a sample of 14 companies, selected through purposive sampling, representing a focused yet representative subset of the population. Intrinsic value was calculated using the Free Cash Flow to Firm (FCFF) model under the Discounted Cash Flow (DCF) approach. The findings reveal that firm size significantly enhances intrinsic value, indicating that larger firms benefit from economies of scale and better access to financing. However, productivity, profitability, liquidity, and leverage, while positively correlated, show statistically insignificant effects, suggesting that external factors such as global commodity price volatility and inefficiencies in financial management may play a role. This study underscores the critical role of firm size in driving intrinsic value while calling for further exploration of external factors impacting the palm oil sector. The results offer valuable insights for investors and policymakers in fostering financial performance and sustainable industry growth.
Analysis of the Effect of Profitability on General Corporate Information and Forward-looking Information and its impact on the Company's Share Prices listed on the Indonesia Stock Exchange Rahmani, Nur Ahmadi Bi; Maksum, Azhar; Fachrudin, Khaira Amalia; Silalahi, Amlys Syahputra
International Journal of Accounting & Finance in Asia Pasific (IJAFAP) Vol 3, No 3 (2020): October 2020
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v3i3.950

Abstract

Many cases of investors who experience losses in investing by buying company shares have led to thoughts about what information is actually needed by investors in reducing the possibility of mistakes. The purpose of this research is to find and create the latest model of information that should be conveyed to reduce the occurrence of multi-interpretation of information. The population used is 540 companies listed on the Stock Exchange with the criteria of having active financial and web reports at the time of the study, then the target population becomes 302 with the sampling method using saturated samples then the entire target population is sampled as many as 302 companies. The analysis used is path analysis using the smart PLS tool, The researcher managed to make a finding that at alpha five percent, profitability directly had a positive and significant effect on general corporate information, and stock prices, but not on foward-looking information. General corporate information directly affects the stock price while foward-looking information does not significantly influence the stock price. Indirectly, profitability has a positive and significant effect on stock prices through general corporate information, but not through foward-looking information.
The Effect of Corporate Sustainability Practices on Tax Avoidance: Evidence from Indonesia Dalimunthe, Esmil Saleh; Fachrudin, Khaira Amalia; Nasution, Fahmi Natigor
Jurnal Manajemen Stratejik dan Simulasi Bisnis Vol. 5 No. 2 (2024): Jurnal Manajemen Stratejik dan Simulasi Bisnis
Publisher : Fakultas Ekonomi Universitas Andalas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25077/mssb.5.2.61-71.2024

Abstract

Environmental, Social, and Governance (ESG) factors are currently receiving significant attention from investors and company management. This study aims to analyze the relationship between ESG performance and tax avoidance among companies in Indonesia. The research utilizes financial statement data from non-financial sector companies listed on the Indonesia Stock Exchange for 2019–2023. Financial data and ESG scores were sourced from the LSEG Refinitiv database. Data analysis was conducted using a quantitative approach with the EViews 13 software. The results indicate a significant negative relationship between ESG scores and tax avoidance. This finding suggests that companies with strong ESG performance are less likely to engage in tax avoidance practices. These results align with agency and stakeholder theories, which propose that companies with effective governance are less inclined to participate in tax avoidance activities.
THE INFLUENCE OF BUDGET PARTICIPATION, ORGANIZATIONAL CULTURE, ORGANIZATIONAL COMMITMENT AND ENVIRONMENTAL UNCERTAINTY ON BUDGET SLACK IN LANGKAT REGENCY GOVERNMENT Asmara, Rizqy Winny; Fachrudin, Khaira Amalia; Irawati, Nisrul
PROCEEDING OF INTERNATIONAL CONFERENCE ON EDUCATION, SOCIETY AND HUMANITY Vol 2, No 1 (2024): Second International Conference on Education, Society and Humanity
Publisher : PROCEEDING OF INTERNATIONAL CONFERENCE ON EDUCATION, SOCIETY AND HUMANITY

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Abstract

The research aims to examine the influence of budget participation, organizational culture, organizational commitment, and environmental uncertainty on budget slack in the Langkat Regency Government. The type of data used in this research is primary data using a questionnaire. The population in this study were all employees of the Langkat Regency Government. The sample in the research consisted of 89 respondents who were involved in budget preparation. The method used to determine the sample is the purposive sampling technique. The data analysis method used in this research is the multiple linear regression method. The research results show that environmental uncertainty has a significant positive effect on the budget slack. Meanwhile, budget participation, organizational culture, organizational commitment, and environmental uncertainty do not affect the budget slack in the Langkat Regency Government.
Comparative Analysis of the Influence of Systematic Risk, Idiosyncratic Risk, and Investor Sentiment on Stock Returns in Banking Companies Listed on the Indonesia Stock Exchange and the Malaysia Exchange Daulay, Deby Dewanty; Fachrudin, Khaira Amalia; Silalahi, Amlys Syahputra
Journal of Business Management Vol. 3 No. 1 (2025): August
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jobm.v3i1.153

Abstract

Stock returns serve as key indicators reflecting investment performance and become the primary focus of investors in capital market decision-making, with the banking sector playing a strategic role in driving economic growth in Indonesia and Malaysia. This study aimed to analyze the impact of systematic risk, idiosyncratic risk, and investor sentiment on banking stock returns in the Indonesia Stock Exchange (BEI) and Bursa Malaysia. Employing a quantitative approach with explanatory research and comparative methods, the study examined 21 companies from BEI and 7 companies from Bursa Malaysia during 2020-2023. Through panel data analysis using EViews, findings revealed that in BEI, systematic risk significantly negatively influences stock returns by 10.74% (p-value 0.001), idiosyncratic risk shows a highly significant positive impact of 594.00% (p-value 0.000), while investor sentiment has no significant effect (p-value 0.331). In Bursa Malaysia, systematic risk significantly negatively affects stock returns by 14,11%% (p-value 0,0028), idiosyncratic risk shows a significant negative impact of 116,065% (p-value 0,0803), and investor sentiment significantly positively influences returns by 0,57% (p-value 0,0001). The research model explains 59.41% of stock return variations in BEI and 20.63% in Bursa Malaysia. Comparative analysis reveals no significant difference in systematic risk between the two exchanges and consistent combined data, but there are significant differences in idiosyncratic risk and investor sentiment which are inconsistent with the significance results of Bursa Malaysia with BEI and the combined data of the two exchanges.
EQUITY VALUE ANALYSIS WITH THE INCOME APPROACH IN PALM OIL PLANTATION COMPANIES (CASE STUDY: PT SISIRAU AND PT SATYA AGUNG) Sianipar, Alfred Johnson; Fachrudin, Khaira Amalia; Dwi Atmoko, Darmawan
SIBATIK JOURNAL: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol. 4 No. 10 (2025)
Publisher : Penerbit Lafadz Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/sibatik.v4i10.3436

Abstract

Equity value is the net worth that belongs to the owners or shareholders of a company after all liabilities have been settled from the total assets owned. Equity value reflects the portion of net ownership in the company that truly belongs to the shareholders.This study aims to analyze the equity value of two palm oil plantation companies in Indonesia, PT Sisirau and PT Satya Agung, using an income-based approach through the Discounted Cash Flow (DCF) method. This approach is considered highly relevant for valuing companies with long-term income prospects and relatively stable cash flows, as is typical in the palm oil plantation industry. The study is also strategically significant, as both companies are preparing for an Initial Public Offering (IPO), where valuation becomes a key consideration for potential investors. The data used in this research consists of audited financial statements from 2017 to 2024 and financial projections for the period 2025 to 2034. The research applies a quantitative approach combined with descriptive analysis, using both primary and secondary data. Equity value is estimated based on projected Free Cash Flow to the Firm (FCFF), discounted using the Weighted Average Cost of Capital (WACC). The analysis also considers business risk, cost structure, CPO price trends, and relevant government regulations. The results indicate that the income approach provides a more accurate estimate of equity value, reflecting the future economic potential of the companies. PT Satya Agung has an indicative equity value of IDR 3.85 trillion, significantly higher than PT Sisirau's IDR 1.67 trillion. This difference is attributed to PT Satya Agung's stronger cash position, lower debt burden, and higher growth potential. Therefore, PT Satya Agung is considered more suitable to proceed with an IPO in the near future. This study concludes that the DCF is highly appropriate for valuing companies with long-term growth orientation and stable cash flow. Moreover, the findings contribute to academic literature and serve as a practical reference for companies, investors, regulators, and academics in understanding income-based equity valuation, particularly in the palm oil plantation sector.
Determination of Corporate Social Responsibility Disclosure Using Firm Size as a Moderation Variable in Palm Oil Companies Yunarti, Yunarti; Erlina, Erlina; Fachrudin, Khaira Amalia
Journal of Social Science Vol. 4 No. 4 (2023): Journal of Social Science
Publisher : Syntax Corporation Indonesia

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Abstract

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Strategy improves profits through the right investment for households in Serikat Tolong Menolong Setia Sambu Baru Kecamatan Medan Barat Fachrudin, Khaira Amalia; Siahaan, Elisabet; Ginting, Paham; Ginting, Liasta; Sipayung, Friska
ABDIMAS TALENTA: Jurnal Pengabdian Kepada Masyarakat Vol. 4 No. 2 (2019): ABDIMAS TALENTA: Jurnal Pengabdian Kepada Masyarakat
Publisher : Talenta Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (149.191 KB) | DOI: 10.32734/abdimastalenta.v4i2.4087

Abstract

Investment is very important to be done in order to obtain benefits in the future. Housewives also need to make this investment. This service aims to provide investment strategies and open householder insights to be able to choose the right type of investment and assist her husband in deciding to invest or support investments made by her husband. Lectures and assistance were given to 25 housewives in STM Sambu Baru, Medan Barat District. After reading the profiles of these mothers it is recommended that the right investment is pure gold. The result is that mothers who have not had investment become interested in investing in gold. Previously they did arisan money, now they change their arisan, i.e. the arisan money is bought pure gold and will be given to the arisan draw. They also agreed to invite their husbands to invest in land and thought to have land investment in their own name.
Digitalization Training for MSMEs to Increase Competitiveness in the Digital Era Sitohang, Ance Marintan D; Fachrudin, Khaira Amalia; Sibarani, Magdalena Linda Leonita; Ivan Jaya
ABDIMAS TALENTA: Jurnal Pengabdian Kepada Masyarakat Vol. 10 No. 1 (2025): ABDIMAS TALENTA: Jurnal Pengabdian Kepada Masyarakat
Publisher : Talenta Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/abdimastalenta.v10i1.18212

Abstract

MSMEs in Indonesia are the most important and strong pillars of economic development. Its role in driving the rate of economic growth and employment is huge. MSME MUA RiasaNeni is an MSME that operates in cosmetology services. The problems that occur with UMKM MUA RiasaNeni are the limited human resources of UMKM MUA RiasaNeni in creating interesting content on social media as promotional media, the limited supporting tools they have especially for the need to develop content, and the absence of financial bookkeeping that is used to record all financial transactions, for keeping records of all financial transactions precisely and systematically. The solution taken by the service team was to provide training to UMKM MUA RiasaNeni actors. Activities were carried out at PTPN IV Emplasmend Kebun Laras, Bandar Huluan District, Simalungun Regency.
The Impact of Income Diversification on Bank Stability in Indonesia: A Comparative Analysis of Conventional and Sharia Banks Daria, Juwita; Fachrudin, Khaira Amalia; Syahyunan, Syahyunan; Irawati, Nisrul
Indatu Journal of Management and Accounting Vol. 3 No. 2 (2025): December 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/ijma.v3i2.349

Abstract

Banks play a major role in economic activities worldwide, but until now, there has been no clear consensus on the impact of income diversification on bank stability and its potential to help banks survive during a crisis, especially when relying on interest income. This study aims to determine whether income diversification affects the stability of Islamic and conventional banks in Indonesia during the period 2019–2023. This research uses quantitative data from 10 samples over five years, selected through the purposive sampling method. The study finds that income diversification has a significant positive effect on the stability of Islamic banks but is not significant for the stability of conventional banks. This indicates that income diversification can significantly enhance the stability of Islamic banks, while for conventional banks, it has the potential to improve stability. Overall, income diversification has different impacts on different types of banks. Bank debt has a negative but insignificant effect on the stability of both conventional and Islamic banks, showing a similar effect across bank types. Bank size has a positive but insignificant effect on conventional bank stability, while it has a positive and significant effect on Islamic bank stability, indicating differences in the impact of bank size on different types of banks. This study is a pioneering assessment of the effect of income diversification on the major types of banks in Indonesia (Islamic and conventional) and is expected to be useful for banking management, decision-makers with religious investment considerations, and regulators.
Co-Authors Adinatan Adinatan Akhmad Razali Amlys Syahputra Silalahi Amlys Syahputra Silalahi Ance Marintan D. Sitohang Arlina Nurbaity Lubis Asmara, Rizqy Winny Astri Indah Utari Azhar Maksum Beby Kendida Hasibuan Dalimunthe, Esmil Saleh Daria, Juwita Daulay, Deby Dewanty Dina Hastalona Dina Liviana Tarigan Dwi Atmoko, Darmawan Erlina Erlina Handy Octavianus Harefa, Oberlin Harefa, Wirdanur Hilma Tamiami Fachrudin Indri Hafsari Gultom Irawati, Nisrul Isfenti Sadalia Isfenti Sadalia Ivan Jaya Juli Meliza liasta ginting Mahrina Sari Maretta Yuraska Sinulingga Maria Monica Sihombing Muhammad Faidhil Iman Nasution, Fahmi Natigor Nisrul Irawati Novian Paisal Sitompul Nur Ahmadi Bi Rahmani paham ginting Pane, Sri Gustina Prihatin Lumbanraja Rahmani, Nur Ahmadi Bi Rina Sitepu, Dewinta Siahaan, Elisabet Sianipar, Alfred Johnson Sibarani, Magdalena Linda Leonita Silaban, Cristin Yeremia Silalahi, Amlys Syahputra Sipayung, Friska Siregar, Narumondang Bulan Sitanggang, Gartima Supriyanto syahyunan syahyunan Taslim Taslim Theodora Novalina Ariesta Yunarti Yunarti