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PENGARUH PENGHINDARAN PAJAK TERHADAP NILAI PERUSAHAAN DENGAN LEVERAGE SEBAGAI VARIABEL MODERASI Decco Soerzawa; Yusmaniarti Yusmaniarti; Chairul Suhendra
Bilancia : Jurnal Ilmiah Akuntansi Vol 2 No 4 (2018): Bilancia : Jurnal Ilmiah Akuntansi
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (310.437 KB)

Corporate value is an indicator of the success of a company's performance in achieving awards from the business environment. It is aimed to gain wealth for the company to maximize profits. In order to achieve this objectives, a company needs management controls like tax avoidance. The formulation of the problems in this study are whether not tax avoidance affects the company value, whether or not the leverage affects value company, and whether or not the leverage affects the relationship of tax avoidance with the value of the company. The main purpose of the study is to determine the effect of tax avoidance on company value with the leverage as a moderating variable. Type of this study is quantitative research that is using secondary data. The research population is all manufacturing companies listed on the Stock Exchange in 2014-2017. The sampling technique used was purposive sampling. There were 41 comanpany’s unit of analysis were selected, they were multiplied by the lenght of observation periods (time series), 164 samples (41 x 4 years). Multiple linear regression data analysis was done by using SPSS 16.0. In getting the conclusion, there were 3 research hypotheses have been tested, wich are; to test the effect of tax avoidance on firm value, to test the effect of leverage on firm value, and to test whether or not the leverage can affect the relationship of tax avoidance to firm value. The results of the study show that: 1). Tax avoidance does not affect the value of the company, 2). Leverage has a positive effect on firm value, and 3). Leverage that moderates tax avoidance does not affect the value of the company. Nilai Perusahaan merupakan suatu indikator keberhasilan kinerja suatu perusahaan dalam mencapai penghargaan dari lingkungan bisnis, bertujuan menciptakan kekayaan bagi perusahaan atau memaksimumkan laba, agar tujuan perusahaan tercapai memerlukan pengendalian manajemen, salah satu cara melakukan penghindaran pajak. Rumusan masalah apakah penghindaran pajak berpengaruh terhadap nilai perusahaan, apakah leverage berpengaruh terhadap nilai perusahaan, dan apakah leverage dapat mempengaruhi hubungan penghindaran pajak dengan nilai perusahaan. Tujuan penelitian untuk mengetahui pengaruh penghindaran pajak terhadap nilai perusahaan dengan leverage sebagai variabel moderasi. Jenis penelitian kuantitatif, data yang digunakan data sekunder. Populasi penelitian seluruh perusahaan manufaktur yang terdaftar di BEI tahun 2014-2017. Teknik pengambilan sampel menggunakan purposive sample, dengan kriteria-kriteria dan terpilih 41 perusahaan unit analisis menjadi sampel dikali jumlah periode tahun pengamatan, sebanyak 164 sampel (41 x 4 tahun). Analisis data regresi linear berganda menggunakan SPSS 16.0 Ada 3 hipotesis penelitian, menguji pengaruh penghindaran pajak terhadap nilai perusahaan, menguji pengaruh leverage terhadap nilai perusahaan, dan menguji leverage dapat mempengaruhi hubungan penghindaran pajak terhadap nilai perusahaan. Hasil menunjukkan: 1). Penghindaran pajak tidak berpengaruh terhadap nilai perusahaan, 2). Leverage berpengaruh positif terhadap nilai perusahaan, dan 3). Leverage yang memoderasi penghindaran pajak tidak memberikan pengaruh terhadap nilai perusahaan.

Analisis Keakuratan Capital Asset Pricing Model Dan Arbitrage Pricing Theory Dalam Memprediksi Return Saham (Studi Pada Perusahaan LQ 45 Di Bursa Efek Indonesia Periode 2016-2020) Yudi Partama Putra; Hesti Setiorini; Chairul Suhendra
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 11 No 1 (2023)
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v11i1.3254

This study is based on the rapid development of the investment world. Hence, most investors have limited abilities and strategies in investing, therefore it takes important methods and concepts to assess the level of profit from an investment with various existing risk factors. This study focuses on the comparison of the accuracy between the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) methods in predicting stock returns of LQ 45 index companies for the 2016-2020 period. This study aimed to determine which method was more appropriate in predicting the company's stock returns. The accuracy of the CAPM and APT methods was measured by using the Mean Absolute Deviation (MAD). The Independent Sample T-test was used to determine whether there was a difference in accuracy between the CAPM and APT methods in predicting stock returns. The results of this study show that by using the calculation of the Mean Absolute Deviation, the APT method is more accurate than the CAPM method in predicting stock returns. The MAD APT value (0.000246) is smaller than the MAD CAPM value (0.003739) and based on data processing from the Independent Sample T-test shows that H0 is rejected, which means that there is a significant difference in accuracy between the CAPM and APT models particularly in predicting the company's stock return.

PENGARUH KEPEMILIKKAN KELUARGA DAN MANAJEMEN LABA TERHADAP NILAI PERUSAHAAN Pedi Riswandi; Ahmad Junaidi; Chairul Suhendra
Jurnal Akuntansi, Keuangan dan Teknologi Informasi Akuntansi Vol.3 No.2 Edisi Desember 2022
Publisher : Universitas Muhammadiyah Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36085/jakta.v3i2.4711

Tujuan penelitian ini adalah untuk menguji pengaruh kepemilikkan keluarga dan manajemen laba terhadap nilai perusahaan. Jenis penelitian adalah kuantitatif. Populasi dalam penelitian ini adalah perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia Tahun 2017 – 2021. Sampel penelitian berjumlah 154 dengan teknik pengambilan sampel yaitu sampel jenuh. Jenis data yang digunakan adalah data sekunder yang diperoleh dari laporan tahunan. Teknik analisis data yang digunakan adalah regresi linier berganda diolah menggunakan SPSS versi 22. Hasil penelitian menunjukkan bahwa kepemilikkan keluarga tidak berpengaruh terhadap nilai perusahaan dan manajemen laba berpengaruh positif signifikan terhadap nilai perusahaan. Kata kunci: kepemilikkan keluarga, manajemen laba, nilai perusahaan

The Effect of Inflation, Exchange Rate, Bi rate, Dow Jones Index on the Composite Stock Price Index (Empirical Studies on the Indonesian Stock Exchange in 2018-2022) Inzira Fauzia NoviaSari; Hesti Setiorini; Yusmaniarti; Chairul Suhendra
Jurnal Ekonomi, Manajemen, Bisnis dan Akuntansi Review Vol. 3 No. 1 (2023): Juni
Publisher : Penerbit ADM Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53697/emba.v3i1.1301

The Composite Stock Price Index (IHSG) is a reflection of the Indonesian economy, when the JCI shows an increase, it means that the Indonesian economy is in a conducive condition and vice versa. To be able to find out what can help the movement of the JCI, several factors need to be considered, such as inflation, the exchange rate, the BI rate and the Dow Jones index. The purpose of this study was to determine the effect of inflation, exchange rates, the BI rate and the Dow Jones index (DJIA) on the JCI. This research was conducted at the IDX using a sample of 60 consisting of monthly data for all variables from 2018 to 2022 by determining the sample using a saturated sample or census sample. The data analysis technique used was the Classical Assumption Test and Partial Hypothesis Test (T Test) and Simultaneous (F Test) with the help of the SPSS 22 Program. The results showed that partially Inflation (X1) had no effect on the JCI with a significant value of 0.358> 0 .05 and t count 0.927<2.004, Exchange Rate (X2) has no effect on JCI with a significant value of 0.389>0.05 and t count -0.869<2.004, BI Rate (X3) has no effect on JCI with a significant value of 0.242>0, 05 and t count -1.182 <2.004, the Dow Jones Index (X4) has an effect on the JCI with a significant value of 0.000 <0.05 and t count 4.962>2.004. While simultaneously Inflation, Exchange Rate, BI Rate, and the Dow Jones Index have a joint effect on the JCI with a sig value of 0.000<0.0.

The Influence Of Psychological Factors And Investor Personality On Investment Performance With The Mediation Of Financial Decision-Making Chairul Suhendra; Anisaul Hasanah; Andi Primafira Bumandava Eka
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 4 No. 6 (2023): 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.v4i6.3922

The study explores the intricate relationships among psychological factors, investor personality, financial decision-making, and investment performance within the context of PT Agiaga Jaya Perkasa. Utilizing a sample of 50 individuals, the research employs a robust methodology, including random sampling and Structural Equation Modeling with the Partial Least Squares approach. The direct test results reveal significant influences of psychological factors and investment performance on financial decision-making, while the indirect test results highlight the mediation role of financial decision-making in the relationship between psychological factors and investment performance. Notably, the study finds a nuanced interaction between investment performance and financial decision-making. These findings contribute valuable insights for PT Agiaga Jaya Perkasa, underscoring the importance of managing psychological aspects in decision-making processes and refining investment strategies for optimal financial outcomes. The study enriches the understanding of the complex dynamics at play in corporate investment settings, offering practical implications for enhancing overall financial success.

The Effect of Inflation, Exchange Rate, Bi rate, Dow Jones Index on the Composite Stock Price Index (Empirical Studies on the Indonesian Stock Exchange in 2018-2022) Inzira Fauzia NoviaSari; Hesti Setiorini; Yusmaniarti Yusmaniarti; Chairul Suhendra
Jurnal Ekonomi, Manajemen, Bisnis dan Akuntansi Review Vol. 3 No. 1 (2023): Juni
Publisher : Penerbit Jurnal Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53697/emba.v3i1.1301

The Composite Stock Price Index (IHSG) is a reflection of the Indonesian economy, when the JCI shows an increase, it means that the Indonesian economy is in a conducive condition and vice versa. To be able to find out what can help the movement of the JCI, several factors need to be considered, such as inflation, the exchange rate, the BI rate and the Dow Jones index. The purpose of this study was to determine the effect of inflation, exchange rates, the BI rate and the Dow Jones index (DJIA) on the JCI. This research was conducted at the IDX using a sample of 60 consisting of monthly data for all variables from 2018 to 2022 by determining the sample using a saturated sample or census sample. The data analysis technique used was the Classical Assumption Test and Partial Hypothesis Test (T Test) and Simultaneous (F Test) with the help of the SPSS 22 Program. The results showed that partially Inflation (X1) had no effect on the JCI with a significant value of 0.358> 0 .05 and t count 0.927<2.004, Exchange Rate (X2) has no effect on JCI with a significant value of 0.389>0.05 and t count -0.869<2.004, BI Rate (X3) has no effect on JCI with a significant value of 0.242>0, 05 and t count -1.182 <2.004, the Dow Jones Index (X4) has an effect on the JCI with a significant value of 0.000 <0.05 and t count 4.962>2.004. While simultaneously Inflation, Exchange Rate, BI Rate, and the Dow Jones Index have a joint effect on the JCI with a sig value of 0.000<0.0.

PENGARUH BIAYA KEAGENAN, KEBIJAKAN DIVIDEN DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR Intan Purnama Sari; Yudi Partama Putra; Ahmad Junaidi; Chairul Suhendra; Budi Astuti
Jurnal Akuntansi, Keuangan dan Teknologi Informasi Akuntansi Vol. 4 No. 2 (2023): Edisi Desember 2023
Publisher : Universitas Muhammadiyah Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36085/jakta.v4i2.5395

Tujuan yang ingin dicapai oleh sebuah perusahaan tidak hanya sekedar memaksimalkan laba yang bisa diperoleh, tetapi yang utama adalah bagaimana memaksimalkam nilai perusahaan. Nilai perusahaan adalah indikator utama yang dipertimbangkahn oleh investor dalam proses pengambilan keputusan dalam berinvestasi disuatu perusahaan. Penelitian ini bertujuan untuk menguji apakah biaya agensi, kebijakan dividen, dan kebijakan hutang berpengaruh dalam nilai perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Biaya agensi yang diukur dengan Rasio Sales to Total Asset (STA), Kebijakan dividen yang di ukur dengan Deviden Payout Ratio (DPR), dan Kebijakan Hutang diukur dengan Debt to Equity Ratio (DER), serta Nilai Perusahaan diukur dengan Price Book Value (PBV). Metode analisis data sampel menggunakan metode purposive sampling dengan kritria sampel yang merupakan perusahaan dibidang manufaktur yang memiliki laporan keuangan periode kuartal tahun 2017-2021. Hasil analisis menyatakan (1) Biaya Agensi berpengaruh positif terhadap Nilai Perusahaan. (2) Kebijakan Dividen tidak berpengaruh signifikan terhadap Nilai perusahaan. (3) Kebijakan Hutang berpengaruh signifikan terhadap nilai perusahaan. Kata Kunci: Biaya Agensi, Kebijakan Dividen, Kebijakan Hutang dan Nilai Perusahaan

PENGARUH KONSERVATISME TERHADAP EFISIENSI INVESTASI DAN AGENCY COST SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR (SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2018-2022) Syahlina Natalia; Chairul Suhendra; Yusmaniarti Yusmaniarti
Jurnal Akuntansi, Keuangan dan Teknologi Informasi Akuntansi Vol. 5 No. 1 (2024): Edisi Juni 2024
Publisher : Universitas Muhammadiyah Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36085/jakta.v5i1.6513

The purpose of this research is to determine how the influence of conservatism, investment efficiency, and agency cost as moderating variabel in manufacturing companies the date used in this study is secondary data sourced from the annual reports of manufacturing companies listed on the indonesia stock exchange (IDX) the sample size was collected using purposive sampling technique a total of 6 companies the research utilized the SPSS 23 program for windows version 11. The findings indicate that conservatism has a positive impact on investment efficiency, and agency cost do not moderate this positive influence on investment efficiency. Keywords: Conservatism, Investment Efficiency, Agency Cost

Analysis Of Financing Procedures At The Kencana Ketahun Berkah Sejahtera Sharia Savings And Loan Cooperative (KKBS) Ketahun District North Bengkulu Khair, Ummul; Suhendra, Chairul; Setiawan, Dharma; Mukadar, Amir
Jurnal Ekonomi, Manajemen, Akuntansi dan Keuangan Vol. 5 No. 1 (2024): Januari
Publisher : Penerbit Jurnal Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53697/emak.v5i1.1551

Achievements in terms of providing financing to Cooperative members are notregardlessfrom the role of Cooperative administrators and managers in terms of carrying out/implementing proceduresproviding financing (loans) to members . ProcedureProviding financing is a rule or provisionmade by the management and approved by the Supervisor which is used as a guideline for the management/managers in carrying out their duties so that they can reduce one of the financing risks, namely avoiding or reducing bad financing (problems). With the existence of procedures for providing financing, it is hoped that the financing (loan) can be returned according to the agreement or it could also mean thatprocedureProviding financing requires members who receive financing facilities topay off the financing accordinglyagreementwithgiverloanalong with profits for the cooperative in the form of Ujrah, Margin or profit sharing according to the financing agreementset.ForThat adminis trator cooperative mustoperate procedur eproviding financing (loans) so thatits membersresponsibleresponsible for the financing (loan) received and making payments in accordance with the provisions or contracts that have been mutually agreed upon. The aim of this researcher is to: (a) know the procedureproviding financing to the Kecana Ketahun Berkah Sejahtra Savings and Loans and Sharia Financing cooperative (KKBS), (b) requirementswhat must be fulfilled by Kopeasi members to apply for financingon Cooperative . Save Kencana Sharia loans and financing for a Prosperous Blessing Year (KKBS) .MethodstudyWhichused in this research is qualitative. With this type of approachused is the phenomenology of procedures for providing financing toCooperativeSave Kencana Kertahun Berkah Sejahtera (KKBS) sharia borrowing and financing (KKBS) Ketahun District, North Bengkulu Regency .Andin formant Whichuse dismember Cooperative Andand management of the Savings CooperativeBorrowing and sharia financing for Kencana Ke Tahun Berkah Sejahtera (KKBS) . The results of this research show that the procedures for providing financing inCooperativeSave KKBS Sharia loans and financing are still availablethere islackfromstandardcredit granting procedures that always pay attention to the element of prudence. Meanwhilepro blemsmain Which thereisin procedure giving creditin Cooperative Save Kencana Ketahun Berkah Sejahtera sharia loans, Ketahun District, North Bengkulu Regency are: a) A photocopy of the KTP of the spouse of the member applying for financing (husband or wife) is not required. b) A letter of approval from the partner (husband or wife) is not required. there is proof of payment of PBB (Land and Building Tax) if the member provides collateral in the form of a Certificate of Ownership (SHM) d) There is no requirement for a power of attorney to guarantee if the collateral used is still in the name of another person e) There is no weighting or scoring in the method of determining a member's eligibility. using the 5 C method .

Savings 2.0: Harnessing Technology For Better Financial Competence Chairul Suhendra; Aan Kanivia; Imran Imran
Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 4 (2024): Journal of Economic, Bussines and Accounting (COSTING)
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v7i4.10480

This research investigates the dynamics of financial competence among customers at Graha Bank Bengkulu, focusing on the roles of technology utilization and savings behavior, mediated by financial literacy. Utilizing a quantitative research design with a sample of 100 customers selected through random sampling, the study employs Smart PLS (Partial Least Squares Structural Equation Modeling) for data analysis. The results reveal significant direct effects of both technology utilization and savings behavior on financial competence, as well as a highly significant direct effect of financial literacy on financial competence. Additionally, technology utilization demonstrates a significant indirect effect on financial competence through financial literacy, while savings behavior does not exhibit a significant indirect effect. These findings underscore the importance of leveraging technological innovations and promoting financial literacy initiatives to enhance customers' financial competence and resilience. The study provides valuable insights for Graha Bank Bengkulu to develop targeted strategies and interventions aimed at empowering customers to navigate the complexities of personal finance effectively and achieve their financial goals.

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