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THE EFFECT OF FINANCIAL PERFORMANCE ON THE STOCK PRICE OF COMPANIES WITH EARNINGS PER SHARE AS A MODERATING VARIETY (CASE STUDY ON PROPERTY AND REAL ESTATE COMPANIES LISTED ON THE IDX IN 2019-2023) Arya Permana Ginting; Rico Nur Ilham; Ghazali Syamni; Chairil Akhyar
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 3 (2025): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i3.208

Abstract

This research aims to determine the effect of financial performance on company share prices with earnings per share as a moderating variable (case study of property and real estate companies listed on the BEI in 2019-2023. The sample for this research is 52 property and real estate sector companies listed on Indonesia Stock Exchange (BEI) and which submitted consecutive annual financial reports during the 2019-2022 period. The analysis tool used is panel data regression using descriptive statistics, classical assumption tests and hypothesis testing has no effect on share prices in property and real estate sector companies listed on the BEI for the 2019-2023 period, then EPS is unable to influence ROA and DER on share prices in property and real estate sector companies listed on the BEI for the 2019-2023 period.
THE EFFECT OF LIQUIDITY, LEVERAGE, PROFITABILITY ON TAX AGGRESSIVENESS: CASE STUDY ON MANUFACTURING COMPANIES SUB PROPERTY AND REAL ESTATE SUB-SECTOR IN BEI Zaufani Putri Khairun; Jummaini; Ghazali Syamni; Nurlela
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i4.214

Abstract

This study aims to examine the effect of liquidity, leverage, and profitability on tax aggressiveness in property and real estate companies listed on the Indonesia Stock Exchange for the 2019-2023 period. The data collection technique uses secondary data in the form of financial reports accessed from the official website www.idx.co.id and also from the website of each company. The data that has been collected is processed using eviews. The population used in this study are property and real estate companies listed on the Indonesia Stock Exchange during the 2019-2023 period. The sample selection technique used purposive sampling technique and obtained 17 companies for 5 years with a total sample data obtained was 85 sample data. The data analysis method used in this study is panel data regression analysis. The research results found that, liquidity and leverage have no effect on tax aggressiveness, and profitability has a negative effect on tax aggressiveness in property and real estate companies listed on the Indonesia Stock Exchange for the 2019-2023 period. This study uses panel data to test manufacturing companies in the property and real estate sub-sector. Further research can consider the influence of these variables and expand the scope of research to other industrial sectors. The results of this study not only provide new insights into the situation of financial management in companies, but can also be a basis for further refining and developing existing theories.
FEASIBILITY ANALYSIS OF A NEW INDEPENDENT FURNITURE BUSINESS IN SYAMTALIRA BAYU DISTRICT, NORTH ACEH REGENCY Zuhra; Marzuki; Ghazali Syamni; Ristati
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i4.218

Abstract

Micro, Small and Medium Enterprises (MSMEs) have an important role in driving economic growth, including in the home furnishings industry. This study aims to analyze the feasibility of the Mandiri Baru Perabot business in Syamtalira Bayu District, North Aceh Regency, by considering market, technical, management, and financial aspects. The research method used is a quantitative approach with analysis of Payback Period (PP), Net Present Value (NPV), Net Benefit Cost Ratio (Net B/C), and Internal Rate of Return (IRR). The results of the study indicate that this business is feasible to be developed, with an NPV value of IDR 573,314,955, Net B/C of 2.54, IRR of 67.95%, and PP for 2 years 6 months 11 days. The main factors supporting the feasibility of this business include increasing market demand, operational efficiency, and maintained product quality. Thus, the Mandiri Baru Perabot business has good prospects for development in the future.
THE INFLUENCE OF LOCAL REVENUE, CAPITAL EXPENDITURE, AND BALANCE FUNDS ON REGIONAL FINANCIAL INDEPENDENCE IN ACEH PROVINCE Alya Maulisa; Muttaqien; Ghazali Syamni; Wahyuddin
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i1.230

Abstract

This study aims to analyze the effect of Regional Original Revenue (PAD), Capital Expenditure, and Balance Fund on Regional Financial Independence in Aceh Province for the period 2012-2023. This study uses secondary data from the Aceh Government Budget Realization Report which is analyzed by multiple linear regression methods. The results showed that PAD has a positive and significant effect on Regional Financial Independence, which indicates that an increase in local revenue is able to strengthen regional financial independence. In contrast, capital expenditure has a negative and significant effect, meaning that any increase in capital expenditure tends to reduce regional financial independence, especially if it is not supported by an increase in PAD. The Balance Fund also has a negative and significant effect, which means that the greater the funds received from the central government, the lower regional financial independence. Dependence on transfer funds reflects the weak ability of regions to finance government needs independently.
THE EFFECT OF SALES GROWTH, ASSET GROWTH AND MANAGERIAL OWNERSHIP ON COMPANY PROFITABILITY IN THE PROPERTY AND REAL ESTATE SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019–2023 Siti Elan Nisa; Rico Nur Ilham; Wahyuddin; Ghazali Syamni
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i1.251

Abstract

The purpose of this study was to determine the effect of sales growth, asset growth, and managerial ownership on company profitability in the property and Real Estate sector listed on the Indonesia Stock Exchange for the period 2019–2023. The data used in this study are secondary data. The population consists of 93 companies, and the sample includes 19 companies selected using purposive sampling, resulting in a total of 95 observations. The data analysis method used is panel data regression. The results show that partially, sales growth has a positive and significant effect on company profitability in the property and Real Estate sector during the 2019–2023 period. Asset growth has a positive but not significant effect on company profitability in the property and Real Estate sector during the 2019–2023 period. Meanwhile, managerial ownership has a positive and significant effect on company profitability in the property and Real Estate sector during the 2019–2023 period.
THE EFFECT OF INVESTMENT DECISIONS, PROFITABILITY AND DEBT POLICY ON STOCK PRICES IN START-UP COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019-2023 Indah Sari Yusmita; Rico Nur Ilham; Ghazali Syamni; Muttaqien
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v3i4.253

Abstract

This research examines the effect of Investment Decisions (PER), Profitability (ROE) and Debt Policy (DER) on Stock Prices in start-up companies listed on the Indonesia Stock Exchange for the 2019-2023 period. Research data can be accessed on the official website www.idx.co.id. The thesis preparation technique uses purposive sampling so that the sample in this study is 8 companies and has 40 observation data. The data analysis tool in this study uses the Panel Data Regression method with the Eviews 12 application tool with the Random Effect Model. The results of the study found that Investment Decisions (PER) have a positive and significant effect on stock prices. Profitability (ROE) has a positive and significant effect on stock prices. Debt policy (DER) has a negative but not significant effect on stock prices. Simultaneously, Investment Decision (PER), Profitability (ROE) and Debt Policy (DER) have a positive and significant effect on stock prices.
THE EFFECT OF LIQUIDITY, PROFITABILITY, AND CAPITAL STRUCTURE ON DIVIDEND POLICY IN PROPERTY AND REAL ESTATE SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (IDX) FOR THE PERIOD 2019–2023 Silvia Ananda; Wahyuddin; Marzuki; Ghazali Syamni
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 3 No. 4 (2025): April
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i1.259

Abstract

This study aims to analyze the effect of liquidity, profitability, and capital structure on dividend policy in property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. The research sample consists of 50 companies with a total of 250 observations over five years, selected using a purposive sampling method. Secondary data were obtained from the companies’ annual financial reports accessed through the official IDX website. The dependent variable in this study is dividend policy, proxied by the Dividend Payout Ratio (DPR) in the form of a dummy variable, while the independent variables include liquidity (Current Ratio), profitability (Return on Assets), and capital structure (Debt to Equity Ratio). Data analysis was performed using logistic regression. The results show that profitability has a positive and significant effect on dividend policy, while liquidity and capital structure do not have a positive and significant effect on dividend policy in property and real estate sector companies listed on the IDX for the period 2019–2023.
THE INFLUENCE OF INTERNAL AND EXTERNAL FACTORS ON STOCK RETURNS IN PROPERTY AND REAL ESTATE COMPANIES ON THE IDX Delia Ananda; Ghazali Syamni; Zulfan; Wardhiah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 2 (2025): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i2.271

Abstract

This study aims to analyze the influence of internal and external factors on stock returns of property and real estate companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The internal factors examined include Return on Assets (ROA), Earnings Per Share (EPS), and Debt to Equity Ratio (DER), while the external factors consist of inflation, interest rates, and exchange rates. A quantitative approach was employed, using secondary data obtained from annual financial reports and national macroeconomic indicators. Data analysis was conducted using panel data regression, with model selection determined through the Chow Test, Hausman Test, and Lagrange Multiplier Test. The results show that partially, ROA and EPS have a positive and significant effect on stock returns, while DER has a negative but insignificant effect. Among external factors, inflation and interest rates negatively affect stock returns but are not statistically significant, whereas exchange rates exhibit a negative and significant influence. These findings support the Efficient Market Hypothesis and Arbitrage Pricing Theory, indicating that both internal and external variables collectively affect stock performance in the capital market. This study provides valuable insights for investors in evaluating financial fundamentals and macroeconomic conditions for better investment decision-making.
FACTORS AFFECTING FINANCIAL DISTRESS IN FINANCIAL SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019-2023 Bambang Arjuna Putra; Rico Nur Ilham; Ghazali Syamni; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 2 (2025): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i2.275

Abstract

This study aims to examine the effect of firm growth, operating cash flow, profitability, and firm size on financial distress in financial sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period. The research employs a quantitative method with a sample of 93 companies selected through purposive sampling from a total population of 105 companies. Data were obtained from financial statements and analyzed using panel data regression with EViews 13. The findings reveal that firm growth and profitability have a significant negative effect on financial distress, while operating cash flow shows no significant effect. In contrast, firm size has a significant positive effect on financial distress. This study is expected to serve as a reference for management in financial sector companies to consider these indicators as benchmarks in assessing the potential risk of financial distress.
THE EFFECT OF PROFITABILITY, LEVERAGE, AND COMPANY SIZE ON TAX AVOIDANCE IN MANUFACTURING COMPANIES LISTED ON THE IDX Intan Ulia; Jummaini; Ghazali Syamni; Wardhiah
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 3 (2026): January
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.20519646

Abstract

This research is to look at the influence of profitability, leverage and company size on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange. 2017-2021 period. Research data can be accessed on the official website www.idx.co.id. The sampling method used purposive sampling and obtained 34 companies. The data analysis technique in this research uses the Panel Data Regression method with the Eviews 10 software tool. This type of research is quantitative research. The data used in this research is secondary data. The data collection technique used in this research using the documentation method was carried out using annual financial report data from manufacturing companies listed on the Indonesian stock exchange. The research results found that the profitability and leverage variables had no effect on tax avoidance, and the company size variable had a positive and significant effect on tax avoidance in manufacturing companies listed on the Indonesia Stock Exchange.
Co-Authors . Zulfan Abd Majid, M. Shabri Aditya Aditya Aisyah Putri Andriani Siregar Aiyub Aiyub Akhyar, Chairil Alifcha Novanda Alya Maulisa Alya Maulisa Amalia Fitri Amalia Fitri Amelia Nufara Arilasta Irawan Arsya Ardana Arya Permana Ginting Arya Permana Ginting Azhar , Bambang Ali Nugroho Bambang Arjuna Putra Bambang Arjuna Putra Darmawati Darmawati Muchtar Darmawati Mukhtar Darmawati Mukhtar Delia Ananda Delia Ananda Ella Nabila EM Yusuf Iis Faisal Faisal, Faisal Farica Yusrina Lubis Frengki Putra Ramansyah Harley Agustian Harley Agustian Hasatiru Auwa Hasatiru Auwa Hasibuan, Ahmad Fauzul Hakim Hawa Zahrani Hendra Raza Herman Fithra Husaini Husaini Husaini Husaini Ikhsan Nur Ilham Ikhsan Nur Ilham Ikram Ikramuddin, Ikramuddin Indah Sari Yusmita Indah Sari Yusmita Intan Ulia Intan Ulia Iqbaal Fauzi Pakpahan Irnianita Irnianita Iswadi Iswadi Bensaadi Jamilah Juilimursyida Ganto Juliana Ariska Jullimursyida Jumadil Saputra Jummaini Khaira Khirnika Nirda Lala Merlita M. Shabri Abdul Majid Marzuki Marzuki Marzuki Mawardati Mawardati Miladi Sutanti Muchtar, Darmawati Muhammad Dava Rizki Muhammad Dava Rizki Muhammad Hafidz Akbar Muhammad Hafizh Muti Miftahul Jannah Muttaqien Muttaqien Muttaqien Muttaqien Muttaqien Muttaqien Nadia Amanda Nadia Mulya Nadiatun Nisa Nasir Azis Naz’aina Neo Agustina Nuhfil Hanani Nur Balkis Nur Faliza Nurfazila Nurhasanah Nurlela Nurlela Nurlela Nurlela Rabiatul Adawiah Berasa Rahmatillah Rahmatillah Raisa Salsabila Rasyidin M. Ratna Husein Reza Hendri Yana Reza Hendri Yana Rico Nur Ilham Rifky Ramandha Riga Sanjaya Ristati Ristati Said Musnadi Sari Yulis Terfiadi Sari Yulis Terfiadi Silvia Ananda Silvia Ananda Siswoyo Adi wijaya Siti Elan Nisa Siti Elan Nisa Sri Arini Suci Puji Suryani Syifa Azzahra Syifa Azzahra T.M Azani Teuku Rully Thasrif Murhadi Wahyuddin Wahyuddin Wahyuddin Wardhiah Wardhiah, Wardhiah Wasni Maisarah Widyana Verawaty Siregar Wirdha Ramadhani Yesi Safitri Zahrul Fuadi Zamzami Zainuddin Zaufani Putri Khairun Zaufani Putri Khairun Zuhra Zuhra Zulfan Zulfan Zulfan Zulfan Zulkifli