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All Journal KEUNIS International Journal of Accounting & Finance in Asia Pasific Jurnal Riset Hukum, Ekonomi Islam, ekonomi, Manajemen dan Akuntansi
Edy Zulfiar
Politeknik Negeri Lhokseumawe
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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The Influence of Financial Ratios and Non-Accounting Information on Credit Decisions at Bank Syariah Indonesia (BSI) Edy Zulfiar; Faisal Faisal; Mariana Mariana; Anhar Firdaus; Diana Diana
KEUNIS Vol. 14 No. 2 (2026): JULY 2026
Publisher : Finance and Banking Program, Accounting Department, Politeknik Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32497/keunis.v14i2.7089

Abstract

This quantitative causal-associative study investigates the influence of financial ratios—i.e., Fixed Assets Turnover (FATO), Return on Net Worth (RONW), and Debt-to-Equity Ratio (DER)—and non-accounting information on credit decisions at Bank Syariah Indonesia (BSI) in Pidie Regency, Aceh, during 2023–2024. Using a census, data were collected from 359 credit recipients, combining secondary financial reports and internal credit documentation. Multiple linear regression and path analysis were performed to examine both the direct and mediating effects of the research variables. The results show that FATO (β = 0.478, p < 0.001) and RONW (β = 0.174, p < 0.001) positively impact credit decisions, whereas the influence of DER (β = 0.028, p = 0.279) is not significant. Meanwhile, non-accounting information (β = 0.154, p = 0.013) both directly affects credit decisions and mediates the relationship between financial ratios and lending outcomes, increasing the explanatory power by 1.2% (ΔR² = 0.012). These findings indicate that qualitative factors, such as managerial integrity, borrower reputation, and business environment, enhance the assessment of creditworthiness. This study contributes to Islamic banking practices by integrating financial and non-financial indicators, providing a more holistic approach for evaluating credit risk and supporting accurate, fair, and sustainable credit decisions.
THE MEDIATING ROLE OF BUDGET RATCHETING ON OWN-SOURCE REVENUE AND REVENUE SHARING FUNDS' EFFECT ON CAPITAL EXPENDITURE Faisal Faisal; Akmal Huda Nasution; Edy Zulfiar; Mariana Mariana; Anhar Firdaus; Rulyanti Susi Wardhani
International Journal of Accounting and Finance in Asia Pasific (IJAFAP) Vol 9, No 1 (2026): February 2026
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/ijafap.v9i1.4620

Abstract

Objectives:      This study aims to analyze the direct effect of Local Own-Source Revenue (PAD) and Revenue Sharing Fund (DBH) on Capital Expenditure, as well as to examine the mediating role of Budget Ratcheting in these relationships.Methodology: The research employs a quantitative approach with multiple linear regression analysis, utilizing time-series cross-sectional data from 23 regencies/cities in Aceh Province over a five-year period (2018–2022). Data were obtained from audited Local Government Financial Statements (LKPD), covering PAD, DBH, Capital Expenditure, and Budget Ratcheting variables. The analysis was conducted using SPSS version 25, with classical assumption tests applied to ensure model validity.Findings:         The results show that PAD does not have a statistically significant effect on Capital Expenditure (p = 0.234), suggesting the presence of contextual influences such as governance quality and fiscal policy implementation. Conversely, DBH demonstrates a significant positive impact on Capital Expenditure (p = 0.000), consistent with prior studies emphasizing its role in enhancing local government investment capacity. Mediation analysis reveals that Budget Ratcheting strengthens the relationship between PAD and Capital Expenditure despite the initial insignificance (p = 0.015). Moreover, Budget Ratcheting mediates the relationship between DBH and Capital Expenditure with a notable negative adjustment effect (p = 0.005).Conclusion:     The study highlights the critical role of revenue-sharing mechanisms and adaptive budgeting practices in supporting regional development. Strengthening fiscal management and enhancing budget flexibility are recommended strategies to maximize the effectiveness of local revenue streams in driving capital expenditures.
DETERMINAN KINERJA KEUANGAN: SYSTEMATIC LITERATURE REVIEW Edy Zulfiar
HEI EMA : Jurnal Riset Hukum, Ekonomi Islam, Ekonomi, Manajemen dan Akuntansi Vol. 5 No. 1 (2026): January
Publisher : Prodi Hukum Ekonomi Syariah, STI Syariah AL-Hilal SIgli

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61393/heiema.v5i1.571

Abstract

This article aims to synthesize prior studies on the determinants of financial performance in companies and public organizations through a Systematic Literature Review. The data were taken from an extraction file containing 40 articles and were screened using inclusion criteria related to publication year, topic relevance, research focus, and metadata completeness. A total of 32 articles published between 2016 and 2024 were analyzed using thematic analysis. The findings show that financial performance studies are dominated by liquidity, leverage, profitability, working capital, firm value, capital structure, good corporate governance, corporate social responsibility, intellectual capital, sustainability reporting, and financial distress. Profitability indicators such as ROA, ROE, and EPS tend to show the most consistent relationship with firm value, stock return, and profit. Liquidity and leverage show mixed results because their effects depend on sector, measurement, and model design. The review also finds that governance and sustainability variables are increasingly important, yet prior studies remain fragmented by sector and observation period. Future research should build integrative models that combine financial ratios, governance, sustainability, and external conditions to produce stronger explanations of financial performance.
LEVERAGE, LIKUIDITAS, DAN PROFITABILITAS DALAM KINERJA KEUANGAN Edy Zulfiar
HEI EMA : Jurnal Riset Hukum, Ekonomi Islam, Ekonomi, Manajemen dan Akuntansi Vol. 5 No. 2 (2026): July
Publisher : Prodi Hukum Ekonomi Syariah, STI Syariah AL-Hilal SIgli

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61393/heiema.v5i2.572

Abstract

This study aims to synthesize prior research on leverage, liquidity, and profitability in explaining financial performance, firm value, and financial risk. The study uses a Systematic Literature Review approach based on an extraction file containing 40 articles. Articles were selected by publication year, topic relevance, research focus, metadata completeness, and DOI availability. After screening, 31 articles published between 2009 and 2021 were analyzed using thematic analysis. The findings show that leverage is the most dominant theme because it relates to capital structure, firm value, investment flexibility, and bankruptcy risk. Liquidity explains short-term financial stability, yet its effect varies across sectors and research models. Profitability, especially ROA, ROE, EPS, and profit margin, appears as the most consistent indicator for assessing financial performance and market response. The review also finds that corporate governance, CSR, reporting quality, and external economic conditions strengthen the explanation of financial performance. Future studies need an integrated model that combines financial ratios, governance, sustainability, and macroeconomic variables.
Co-Authors Akmal Huda Nasution Anhar Firdaus Anhar Firdaus Diana Diana Faisal Faisal Faisal Faisal Lukman Lukman Mariana Mariana Rahmat Hidayat Rulyanti Susi Wardhani