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Pengaruh Harga Minyak Dunia, Suku Bunga, dan Nilai Tukar Rupiah terhadap Harga Saham (Studi Empiris terhadap Sektor Energi di Bursa Efek Indonesia Periode 2020–2024) Sastry Armelia Tokilos; Anwar Anwar; Annisa Paramaswary Aslam; Anwar Ramli; Abdul Rahman
IKRAITH-EKONOMIKA Vol. 9 No. 2 (2026): IKRAITH-EKONOMIKA Vol 9 No 2 Juli 2026
Publisher : Universitas Persada Indonesia YAI

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This study aims to analyze the impact of world oil prices, interest rates, and the rupiah exchange rate on the stock prices of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The study employs a quantitative approach using a causal-associative method. The research population consists of 65 energy sector companies, with a sample of 58 companies selected based on specific criteria. Data were collected through documentation sourced from the financial statements of energy sector companies listed on the IDX, as well as data on world oil prices (Brent Crude), the BI-7 Day Reverse Repo Rate, and the rupiah exchange rate against the US dollar for the 2020–2024 period. Panel data regression analysis was conducted using E-Views version 13 software to examine the direct effects of world oil prices, interest rates, and the rupiah exchange rate on the stock prices of energy sector companies, as measured by closing prices. The results indicate that world oil prices have a positive and significant effect on the stock prices of energy sector companies. Meanwhile, interest rates have a positive but insignificant effect, and the rupiah exchange rate has a negative but insignificant effect on the stock prices of energy sector companies.
Pengaruh Economic Value Added (EVA) dan Market Value Added (MVA) terhadap nilai perusahaan pada perusahaan subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2021–2025 Inaz Zahrah Idris; Anwar Anwar; Rezky Amalia Hamka; Anwar Ramli; Nurman Nurman
IKRAITH-EKONOMIKA Vol. 9 No. 2 (2026): IKRAITH-EKONOMIKA Vol 9 No 2 Juli 2026
Publisher : Universitas Persada Indonesia YAI

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Tujuan - Penelitian ini bertujuan untuk menganalisis pengaruh Economic Value Added (EVA) danMarket Value Added (MVA) terhadap nilai perusahaan pada perusahaan sub sektor makanan danminuman yang terdaftar di Bursa Efek Indonesia periode 2021–2025. Fokus utama penelitian iniadalah untuk mengetahui pengaruh Economic Value Added (EVA) secara parsial terhadap nilaiperusahaan serta mengetahui pengaruh Market Value Added (MVA) secara parsial terhadap nilaiperusahaan pada perusahaan sub sektor makanan dan minuman yang terdaftar di Bursa EfekIndonesia periode 2021–2025.Metode - Penelitian ini menggunakan metode kuantitatif dengan pendekatan asosiatif. Populasipenelitian terdiri atas 83 perusahaan sub sektor makanan dan minuman yang terdaftar di BursaEfek Indonesia periode 2021–2025, dengan sampel sebanyak 12 perusahaan yang dipilihmenggunakan teknik purposive sampling, sehingga diperoleh 60 observasi. Data yang digunakanmerupakan data sekunder berupa laporan keuangan tahunan dan data harga saham yangdikumpulkan melalui dokumentasi dari Bursa Efek Indonesia dan situs resmi masing-masingperusahaan. Variabel independen dalam penelitian ini adalah Economic Value Added (EVA) danMarket Value Added (MVA), sedangkan variabel dependen adalah nilai perusahaan yangdiproksikan dengan Price to Book Value (PBV). Analisis data dilakukan menggunakan regresidata panel dengan bantuan EViews13, serta pengujian hipotesis menggunakan uji t dan koefisiendeterminasi (R²).Hasil/Temuan - Hasil penelitian menunjukkan bahwa secara parsial Economic Value Added(EVA) berpengaruh negatif dan tidak signifikan terhadap nilai perusahaan, sedangkan MarketValue Added (MVA) berpengaruh positif dan signifikan terhadap nilai perusahaan padaperusahaan subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode2021–2025.
Pengaruh Kualitas Produk dan Kualitas Pelayanan terhadap Minat Beli Ulang Konsumen dengan Kepuasan Pelanggan sebagai Variabel Intervening pada GFC Kabupaten Sidenreng Rappang Aisyah Abidin; Anwar Anwar; Ilma Wulansari Hasdiansa; Chalid Imran Musa; Rahmat Riwayat Abadi
Jurnal Manajemen, Bisnis dan Kewirausahaan Vol. 6 No. 2 (2026): Agustus : Jurnal Manajemen, Bisnis dan Kewirausahaan (JUMBIKU)
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/jumbiku.v6i2.7653

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This study aims to analyze the effect of product quality and service quality on consumer repurchase intention, both directly and through customer satisfaction as an intervening variable at GFC in Sidenreng Rappang Regency. The research method used a quantitative approach with an explanatory design and cross-sectional survey study type. The sampling technique was purposive sampling with a total sample of 270 respondents. Data were collected through questionnaire distribution using a 1-5 Likert scale and analyzed using Partial Least Square-Structural Equation Modeling (PLS-SEM) with SmartPLS software. The results showed that: (1) product quality has a positive and significant effect on repurchase intention (β=0.274; t=3.910; p=0.000); (2) service quality has a positive and significant effect on repurchase intention (β=0.279; t=4.416; p=0.000); (3) customer satisfaction has a positive and significant effect on repurchase intention (β=0.387; t=5.457; p=0.000); (4) product quality has a positive and significant effect on customer satisfaction (β=0.246; t=3.129; p=0.002); (5) service quality has a positive and significant effect on customer satisfaction (β=0.409; t=5.546; p=0.000); (6) customer satisfaction mediates the effect of product quality on repurchase intention (β=0.095; t=2.633; p=0.008); and (7) customer satisfaction mediates the effect of service quality on repurchase intention (β=0.158; t=3.671; p=0.000). The R² value of repurchase intention (0.588) and customer satisfaction (0.328) indicates adequate predictive capability.
THE INFLUENCE OF WORK CULTURE ON EMPLOYEE WORK MOTIVATION AT PT. HADJI KALLA (HOLDING) MAKASSAR Moh. Alief Rezkiyah Putra Alwiwikh; Anwar Anwar; Agung Widhi Kurniawan
Jurnal Manajemen Vol 6, No 1 (2026): Februari
Publisher : Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/jm.v6i1.76853

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Abstract: This study investigates the influence of work culture on employee work motivation at PT. Hadji Kalla (Holding) Makassar. Employee motivation is widely recognized as a critical factor for organizational performance and long-term sustainability, yet many organizations continue to face challenges in maintaining high levels of motivation among their workforce. At PT. Hadji Kalla, where corporate values and employee development are central, it becomes essential to understand how work culture directly shapes employee motivation. The research employed a quantitative explanatory design aimed at identifying and analyzing the causal relationship between work culture and work motivation. The population consisted of 207 employees, and the study involved 109 respondents who completed structured questionnaires. In addition to the survey, supporting data were collected through observation, interviews, and documentation to enhance reliability. Data analysis was conducted using simple linear regression with the assistance of SPSS version 26, allowing for an objective examination of the extent to which work culture influences employee motivation. The findings reveal that work culture has a significant and positive effect on employee work motivation. Respondents provided a very strong assessment of the existing organizational culture, particularly regarding the internalization of corporate values that shape and guide their work behavior. The study further shows that when employees perceive a strong and consistent work culture, their motivation to perform increases significantly. These results highlight the importance of fostering and maintaining a supportive organizational culture, as it directly enhances employee motivation and contributes to the achievement of organizational goals at PT. Hadji Kalla (Holding) Makassar.Keywords: Celebrity Endorsement, Brand Awareness, Purchase Intention, Scarlett Whitening, Makassar.
THE INFLUENCE OF OCCUPATIONAL SAFETY AND HEALTH ON EMPLOYEE JOB SATISFACTION AT THE MAIN PORT AUTHORITY OFFICE OF MAKASSAR Andi Fadel Muhammad; Anwar Anwar; M. Ikhwan Maulana Haeruddin
Jurnal Manajemen Vol 5, No 2 (2025): Agustus
Publisher : Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/jm.v5i2.72774

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Abstract: This study aims to determine whether Occupational Safety and Health has an effect on employee job satisfaction at the Makassar Main Port Authority Office. The approach used is quantitative with a data collection method using a survey. The population in this study was 121 employees with a sample determination of 25% of the population so that 30 employees were obtained. The data analysis technique in this study was multiple regression, which included data quality testing, classical assumption testing, and regression testing. The results showed that occupational safety had a positive and significant effect partially on job satisfaction, occupational health also showed a positive and significant effect on job satisfaction. Simultaneously, occupational safety and health had a positive and significant effect on employee job satisfaction at the Makassar Main Port Authority Office.Keywords: Job Satisfaction, Occupational Safety, Occupational Health
AN ANALYSIS OF THE EFFECT OF SOCIAL MEDIA MARKETING AND STORE ATMOSPHERE ON REPURCHASE DECISIONS MEDIATED BY BRAND IMAGE: EVIDENCE FROM LOYALTY FORSURE CONSUMERS IN MAKASSAR CITY Khutbah Nur Rusman DH; Anwar Anwar; Rahmat Riwayat Abadi
Jurnal Manajemen Vol 6, No 1 (2026): Februari
Publisher : Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26858/jm.v6i1.83162

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Abstract: This study examines the effects of locus of control and time management on academic stress among working students, with peer social support serving as an intervening variable. The study involved 169 working students selected through purposive sampling. Data were analyzed using Partial Least Squares-Structural Equation Modeling (PLS-SEM) with SmartPLS version 4.1. The analytical procedures included validity and reliability testing, structural model analysis, and testing of direct and indirect effects. The findings indicate that locus of control and time management significantly influence academic stress, both directly and indirectly through peer social support. These results highlight the importance of strengthening personal self-regulation capacities and fostering supportive peer environments to reduce academic stress among working students.Keywords: Social Media Marketing, Store Atmosphere, Brand Image, Repurchase Decision, Loyalty Forsure
Pengaruh Likuiditas Terhadap Profitabilitas Pada 4 Bank BUMN yang Terdaftar di Bursa Efek Indonesia Rezki Amaliah Alim; Nurman Nurman; Zainal Ruma; Anwar Anwar; Andi Mustika Amin
OPTIMAL Jurnal Ekonomi dan Manajemen Vol. 5 No. 3 (2025): Jurnal Ekonomi dan Manajemen
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/optimal.v5i3.7470

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This study aims to determine the effect of liquidity (LDR) on profitability (ROA) in 4 BUMN Banks Listed on the Indonesia Stock Exchange. This type of research is quantitative which is associative in nature. The population of this study is the statement of financial position and comprehensive profit/loss at 4 BUMN Banks. The samples taken were 4 BUMN banks, namely, BRI, Mandiri, BNI, and BTN from the financial position report and comprehensive profit/loss report for the period 2015-2023 per year. Data collection techniques using documentation. The data analysis technique uses simple linear regression with the help of SPSS version 29. The results of this study indicate that liquidity (LDR) has a negative and insignificant effect on profitability (ROA) at 4 BUMN Banks on the Indonesia Stock Exchange.
Pengaruh Product Quality dan Service Quality terhadap Repurchase Intention yang Dimediasi oleh Customer Satisfaction pada Lazuna Chicken Riska Fauzia; Anwar Anwar; Ilma Wulansari Hasdiansa; Muh Ilham Wardhana Haeruddin; Rahmat Riwayat Abadi
OPTIMAL Jurnal Ekonomi dan Manajemen Vol. 5 No. 4 (2025): Desember OPTIMAL: Jurnal Ekonomi dan Manajemen
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/optimal.v5i4.7686

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This study aims to determine the effect of product quality and service quality on repurchase intention, mediated by customer satisfaction among Lazuna Chicken consumers. In an increasingly competitive business environment, retaining loyal customers is crucial for business continuity, especially in the fast-food industry such as Lazuna Chicken. This research uses a descriptive quantitative approach to analyze the relationships between the studied variables. The population in this study includes all Lazuna Chicken customers, although the exact number is unknown. Therefore, the researcher used a purposive sampling method to select respondents who met specific criteria. The sample consisted of 180 respondents, determined using Hair’s formula, which is commonly applied in SEM-PLS research. Data were collected through questionnaires containing structured questions regarding customer perceptions of product quality, service quality, satisfaction, and repurchase intention. The data were then analyzed using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) version 4.00 application to test the relationships between variables. The results of the study indicate that: (1) Product quality has a positive and significant effect on repurchase intention; (2) Service quality has a positive and significant effect on repurchase intention; (3) Customer satisfaction has a positive and significant effect on repurchase intention; (4) Product quality also has a positive and significant effect on customer satisfaction; (5) Service quality has a positive and significant effect on customer satisfaction; (6) Customer satisfaction is able to mediate the relationship between product quality and repurchase intention; (7) Customer satisfaction also mediates the relationship between service quality and repurchase intention. These findings highlight the importance for companies to maintain and improve both product and service quality in order to enhance customer satisfaction, which in turn will encourage sustainable repurchase intentions.  
Analisis Potensi Financial Distress Menggunakan Metode Altman Z-Score, Springate, dan Zmijewski pada Perusahaan Nikel yang Terdaftar di Bursa Efek Indonesia Periode 2020-2024 Aditya Fajri Mustakim; Anwar Anwar; Ilma Wulansari Hasdiansa; Nurman Nurman; Annisa Paramaswary Aslam
OPTIMAL Jurnal Ekonomi dan Manajemen Vol. 5 No. 4 (2025): Desember OPTIMAL: Jurnal Ekonomi dan Manajemen
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/optimal.v5i4.8276

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This study aims to analyze the potential for financial distress in nickel companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period using three bankruptcy prediction models: Altman Z-Score, Springate, and Zmijewski. The primary focus is to identify nickel companies experiencing potential bankruptcy, compare the prediction outcomes among the three models, and determine which model demonstrates the highest level of accuracy in predicting financial distress. This research employs a quantitative approach with a comparative method, in which the sample consists of nine nickel companies selected through purposive sampling based on specific criteria. The analytical techniques used include the Wilcoxon Signed Rank Test to examine differences in prediction results between the models (Altman–Springate, Altman–Zmijewski, and Springate–Zmijewski) and an Accuracy Test to evaluate which model provides the most reliable predictions. The findings reveal significant differences among the models, indicating that Altman, Springate, and Zmijewski produce predictions that are not entirely consistent across companies, thereby reflecting the inherent strengths and limitations of each approach. Furthermore, the accuracy test results indicate that the Zmijewski model achieves the highest level of accuracy in predicting financial distress among nickel companies during the observation period, followed by the Altman model, while the Springate model demonstrates the lowest accuracy. These results highlight the importance of selecting the most appropriate predictive model when assessing corporate financial health, particularly within the nickel industry, which is characterized by high market volatility and business risks, thus providing valuable insights for companies, investors, and stakeholders in making strategic decisions to mitigate bankruptcy risk and ensure business sustainability.
Pengaruh Likuiditas dan Solvabilitas terhadap Profitabilitas pada Bank Rakyat Indonesia (Persero) Tbk Periode 2010-2024 Putri Aliyah Natasya; Anwar Anwar; Abd. Rahman; Anwar Ramli; Annisa Paramaswary Aslam
OPTIMAL Jurnal Ekonomi dan Manajemen Vol. 6 No. 2 (2026): Juni: OPTIMAL: Jurnal Ekonomi dan Manajemen
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/optimal.v6i2.11020

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This study aims to examine the influence of liquidity and solvency on profitability at Bank Rakyat Indonesia (Persero) Tbk, a banking institution listed on the Indonesia Stock Exchange during the research period. Liquidity is measured using the Loan to Deposit Ratio (LDR), solvency is represented by the Capital Adequacy Ratio (CAR), and profitability is evaluated through Return on Assets (ROA). The research applies a quantitative approach and uses regression analysis to analyze the relationships among these financial variables. The findings show that liquidity, as proxied by LDR, does not have a significant effect on profitability, indicating that a higher level of liquidity does not automatically improve the bank’s ability to generate profits. Meanwhile, solvency measured by CAR has a positive and significant impact on profitability, suggesting that stronger capital adequacy enables banks to manage risks more effectively and support operational performance. These results emphasize that adequate capital strength plays a crucial role in enhancing banking profitability and maintaining financial stability in the banking sector.
Co-Authors A. Nur Habibie Jannah Abadi, Rahmat Riwayat Abd. Muis Dilla Abd. Rahman Abdul Rahman Abdul Rahman Aditya Fajri Mustakim Agung Widhi Kurniawan Ahmad Raihan Al Bustani Ahmad Rum Aisyah Abidin Aldi Alwi Alvian Hijrah Amiruddin Tawe Amiruddin Tawe Andi Bintang Maulana A Andi Fadel Muhammad Andi Mustika Andi Mustika Amin Annisa Awaliyah Ridwan Anwar Ramli Arhan Tri Putra Aslam, Annisa Paramaswary Aulia Nurul Izmi Basri Bado Burhanuddin Burhanuddin Chalid Imran Musa Chalid Imran Musa Deddy Ibrahim Rauf Dwi Anugerah Lestari Musa Fitriani Rahim Gufrana Gufrana Hardianti Hardianti Hety Budianty Hety Budiyanti Ilma Wulansari Hasdiansa IlmaWulansari Hasdiansa Inanna Inaz Zahrah Idris Irawati Irawati Khaidir Syahrul Khutbah Nur Rusman DH M. Ikhwan Maulana Haeruddin Marsena Limbong Moh. Alief Rezkiyah Putra Alwiwikh Muhammad Idris Muhammad Rijal Alim Rahmat Muhammad Syafri Muis Dilla Muliana Agus Munadhir Munadhir Musfirah Mustika Amin Nur Alya Nanda Nur Athifah Wahyuningsih Nur Fadilah Ayu Sandira Nur Haliza Nurbayani Nurbayani Nurjannah Nurlina Nurlina Nurman Nurman Putri Aliyah Natasya Rahim, Abd Rezki Amaliah Alim Rezky Amalia Hamka Ridfan Rifadly Abadi Riska Fauzia Riska Yuniarti Romansyah Sahabuddin Sahabuddin Sahabuddin Sastry Armelia Tokilos Serly Serly Siti Alifah Tzahdiah Siti Hasbiah Sitti Hasbiah Stefanie Inggried Gorap sulistiawaty sulis Sun Dewi Putri Syarif Hidayatullah Tenri S P Dipoatmodjo Tenri Sayu Puspitaningsih Dipoatmodjo Trisno Setiawan Usman Usman Wahyu Veriadi Ramadhan Wilda Wilda Windarsari, Wiwin Riski Windi Atriani Yunika Priscilla Yusri Karmila Zainal Ruma