Article Per Year (5 Year)
p-Index From 2021 - 2026
4.04
P-Index
This Author published in this journals
All Journal Sains: Jurnal Manajemen dan Bisnis JBTI : Jurnal Bisnis : Teori dan Implementasi Jurnal Tirtayasa Ekonomika (Tirtayasa Economica Journal) Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Journal of Economic, Bussines and Accounting (COSTING) J-MKLI (Jurnal Manajemen dan Kearifan Lokal Indonesia) Jurnal Riset Bisnis dan Manajemen Tirtayasa JMS : Jurnal Manajemen Sinergi Jurnal Ecoment Global: Kajian Bisnis dan Manajemen Jurnal Manajemen Enrichment : Journal of Management ANALISIS - SCIENTIFIC JOURNAL OF ECONOMICS, MANAGEMENT, BUSINESS, AND ACCOUNTING Jurnal Fokus Manajemen Bisnis Journal of Applied Business, Taxation and Economics Reseach Jurnal Bisnis Mahasiswa Management Science Research Journal Journal of Governance, Taxation, and Auditing Borobudur Accounting Review The Es Economics and Entrepreneurship Kriez Academy Jesocin : Journal of Jabar Economic Society Networking Forum Jesocin : Journal of Economics, Accounting, Business, Management, Engineering and Society Indonesian Journal of Innovation Multidisipliner Research
Wawan Ichwanudin
Universitas Sultan Ageng Tirtayasa
Religion Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Industrial & Manufacturing Engineering Library & Information Science Social Sciences Other

Published : 31 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 31 Documents
Search

 1   2   3   4 
PENGARUH PROFITABILITAS TERHADAP HARGA SAHAM DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING DAN UKURAN PERUSAHAAN SEBAGAI VARIABEL KONTROL Ichwanudin, Wawan; Istiqomah, Atika Rizki; Suryani, Emma
Jurnal Manajemen Sinergi Vol 11, No 2 (2023): JURNAL MANAJEMEN SINERGI (EDISI OKTOBER)
Publisher : Program Studi Manajemen Fakultas Ekonomi dan Bisnis Universitas Khairun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33387/jms.v11i2.7151

Abstract

ABSTRACTObjective: This study was conducted to evaluate the effect of profitability (ROA) on stock prices, considering capital structure (DER) as an intervening variable and company size as a control variable.Methodology: The sample in this study is a company incorporated in LQ45 on the Indonesia Stock Exchange which has complete data for the period 2018-2022. The data analysis method used is Path Analysis using the SPSS 20.0 program.Finding: The first, second, third, and fourth (H) hypotheses were accepted because the t statistic value was greater than t table, and the p value was smaller than alpha 0.05.Conclusion: The results indicate that ROA has a significant positive effect on stock prices. However, ROA has no significant effect on capital structure (DER), while DER has a significant negative effect on stock price. These results indicate that DER is unable to mediate the relationship between ROA and stock price. Firm size can serve as a control variable in the effect of profitability on stock price. This study shows important findings, that signaling theory can be confirmed where the profitability ratio is a positive signal for investors. However, it does not support the packing order theory because the capital structure is not influenced by profitability, so the capital structure does not mediate profitability on stock price.
DETERMINAN STRUKTUR MODAL DAN DAMPAKNYA TERHADAP NILAI PERUSAHAAN Handayani, Maria Eki; Ichwanudin, Wawan; Khaerunnisa, Enis
ANALISIS Vol. 13 No. 1 (2023): ANALISIS VOL. 13 NO. 1 MARET 2023
Publisher : FACULTY OF ECONOMICS AND BUSINESS FLORES UNIVERSITY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37478/als.v13i1.2540

Abstract

This study tested the determinants of capital structure and its impact on the value of the company. The determinant variables of Capital Structure used are Profitability, Liquidity and Asset Structure. This study uses data from the IDX using a sample of companies that are members of the IDX30 index that have complete data in 2016-2020.. Variables that affect the capital structure used are profitability, liquidity, and asset structure. In this study, there were 12 populations. The data analysis technique in this study used and two-stage regression. The results find that Profitability, Liquidity and Assets Structure are the determinant of Capital Structure. Capital structure obtained from the first stage of regression has a negative and significant effect on Firm Value.    
FIRM SIZE AS A CONTROL VARIABLE IN THE EFFECT OF PROFITABILITY ON STOCK PRICE WITH CAPITAL STRUCTURE AS MEDIATOR Istiqomah, Atika Rizki; Ichwanudin, Wawan; Suryani, Emma
Management Science Research Journal Vol. 2 No. 3 (2023): August 2023
Publisher : PT Larva Wijaya Penerbit

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56548/msr.v2i3.74

Abstract

Purpose: The objective of this research is to figure out the impact of profitability (X) on stock prices by using capital structure (Z) as a mediating controllable and firm size as a predictor (Y). Methodology/approach: This study's population comprised eighteen companies, and it engaged secondary data and causal associative research methods with a quantitative approach. The regression intervention data analysis technique was used the SPSS 22 software. Results/findings: According to the analyses, ROA seemed to have a positive significant impact on stock prices, whereas DER had quite a significant negative impact on stock prices.Limitations: For five years, this sample was using one sub-sector of textile and garment companies. Contribution: Investors are expected to pay focus on aspects of profit related to net profit got each period based on managerial implications. Then, investors must consider the company's debt and equity levels, because companies with high debt levels can be risky to invest in. Novelty: Even though previous researchers' study became inconstant, the authors add debt to equity ratio as a mediator factor and firm size as a control framework in this research.
DETERMINAN PROFITABILITAS DAN IMPLIKASINYA TERHADAP NILAI PERUSAHAAN DENGAN LEVERAGE SEBAGAI VARIABEL INTERVENING Alfiana, Dede; Ichwanudin, Wawan; Khaerunnisa, Enis
Jurnal Maneksi (Management Ekonomi Dan Akuntansi) Vol. 12 No. 1 (2023): Jurnal Maneksi (Management Ekonomi Dan Akuntansi)
Publisher : Politeknik Negeri Ambon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31959/jm.v12i1.1265

Abstract

This research was conducted with the aim of knowing the ability of leverage to mediate the implications of profitability on firm value, with sales growth and cash turnover as determinants of profitability. The population in this study are companies from the trade, service and investment sectors in the tourism sub-sector, restaurants and hotels listed on the Indonesia Stock Exchange (IDX) for the period 2016 to 2020 with a total population of 19 companies. The antecedent variable of company growth is proxied by sales growth and the activity ratio is proxied by Cash Turnover, the independent variable of profitability is measured using ROE (Return on Equity), the dependent variable of company value is proxied by PBV (Price Book Value), and the intervening variable Leverage is proxied by DER (Debt to Equity Ratio). This study uses secondary data obtained from ICMD (Indonesian Capital Market Directory) for 2016-2020. Testing was carried out using SPSS. The results showed that sales growth has a positive effect on profitability, cash turnover has a positive effect on profitability, profitability has a positive effect on leverage, leverage has a positive effect on firm value, profitability has a negative effect on firm value, leverage mediates profitability on firm value..
Impact of Capital Structure on Firm Value with Profitability as Mediator: Indonesian Coal Companies Study Singgih Widigdya; Akhmadi Akhmadi; Wawan Ichwanudin
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 1 (2024): Januari - Maret
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i1.151

Abstract

Over the past six years, global economic volatility shaped by geopolitical complexities has significantly impacted the coal sector, marked by fluctuating prices influenced by events such as the Ukraine crisis and the COVID-19 pandemic. This study focuses on Indonesian coal companies, examining the relationship between capital structure (DER), firm performance (ROA), and firm value (PBV). Through empirical analysis of 15 listed companies from 2018 to 2023, utilizing Hayes' Process Macro Model 4, the research finds that higher Debt to Equity Ratios (DER) negatively affect Return on Assets (ROA), indicating reduced efficiency in asset utilization. However, DER positively correlates with Price to Book Value (PBV), implying investor optimism regarding future earnings and asset worth. The study underscores the nuanced interplay between financial metrics in shaping corporate value within Indonesia's coal sector, offering insights for strategic financial management amid market uncertainties.
The Effect of Liquidity on Capital Structure with Company Size as a Moderating Variable Mediated by Profitability: Pengaruh Likuiditas Terhadap Struktur Modal Dengan Ukuran Perusahaan sebagai Variabel Moderasi yang Dimediasi oleh Profitabilitas Olivia Monica; Wawan Ichwanudin; Emma Suryani
Indonesian Journal of Innovation Multidisipliner Research Vol. 2 No. 4 (2024): Oktober - Desember
Publisher : Institute of Advanced Knowledge and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijim.v2i4.210

Abstract

This study aims to examine and analyze the effect of liquidity on capital structure, with firm size as a moderating variable and profitability as a mediating variable, conducted on companies listed in the IDX Growth 30 during the 2020-2022 period. The data used in this study are secondary data, and the sampling technique is purposive sampling. The data sources for this research come from the Indonesia Stock Exchange and the official websites of the listed companies. The results of the study show that liquidity has a negative and significant effect on capital structure, liquidity has a positive and significant effect on profitability, profitability has a negative and significant effect on capital structure, profitability is able to mediate the relationship between liquidity and capital structure, firm size is able to moderate the relationship between liquidity and capital structure, firm size is able to moderate the relationship between profitability and capital structure, and liquidity affects capital structure mediated by profitability and moderated by firm size simultaneously.
The Mediation Role Of Capital Structure And Profitability Moderation In The Relationship Between Liquidity And Company Value (Case Study Of Companies With Small-Mid Cap Liquid Index Listed On The Idx In The 2018-2023 Period) Atsilah, Yasmin; Ichwanudin, Wawan; Purbasari, Intan
Journal of Governance, Taxation and Auditing Vol. 4 No. 4 (2026): Journal of Governance, Taxation and Auditing (April - June 2026)-In Progress
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/jogta.v4i4.1857

Abstract

In this study, the researcher aims to provide new insights into whether liquidity can enhance firm value by employing capital structure as a mediating variable and profitability as a moderating variable. This research uses a quantitative approach with a causal design and utilizes secondary data obtained from TradingView, annual financial reports available on company websites, and the Indonesia Stock Exchange. The sampling method applied in this research is non-probability sampling with a purposive sampling technique, focusing on companies listed in the Small-Mid Cap Liquid Index on the Indonesia Stock Exchange for the 2018–2023 period. The data were then analyzed using SPSS version 25 through descriptive statistical analysis, followed by hypothesis testing using the PROCESS macro by Hayes. The findings of this study indicate that liquidity has a positive but insignificant effect on firm value; liquidity has a negative and significant effect on capital structure; capital structure has a negative and insignificant effect on firm value; capital structure is unable to mediate the relationship between liquidity and firm value; profitability cannot moderate the relationship between liquidity and firm value; profitability cannot moderate the relationship between capital structure and firm value; however, profitability can moderate the relationship between liquidity and firm value when capital structure is included as a mediating variable.
Analysis of Profitability on Stock Prices: Capital Structure as a Mediator, Firm Size as a Control: Analysis of Profitability on Stock Prices: Capital Structure as a Mediator, Firm Size as a Control Wawan Ichwanudin; Seandy Ginanjar
Jurnal Ecoment Global Vol. 11 No. 1 (2026): Volume 11 No. 1 edisi April 2026
Publisher : Universitas Indo Global Mandiri Palembang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36982/jeg.v11i1.6937

Abstract

Objective: This study aims to empirically investigate the role of the Debt-to-Equity Ratio (DER) as a mediating factor between Return on Assets (ROA) and stock prices in food and beverage companies listed on the Indonesia Stock Exchange (IDX). It seeks to expand existing knowledge by analyzing the connections between these financial metrics and stock prices, offering valuable insights into corporate financial performance and its influence on market valuations. Design/Methods/Approach: Using regression analysis, the study tests the mediation of DER in the relationship between ROA and stock prices. The sample consists of firms in the food and beverage industry listed on the IDX. The hypotheses are tested through regression models to examine both direct and indirect effects. Findings: The results show that DER does not significantly affect ROA or stock prices. While ROA still significantly influences stock prices when DER is included as a mediating variable, DER itself does not mediate the relationship. This suggests that investors focus more on profitability (ROA) when making decisions, rather than considering DER. Originality/Value: This research introduces a novel perspective by exploring DER's mediating role, challenging the traditional view of its significance in investment decisions within the Indonesian food and beverage sector. Practical/Policy implication: Investors should focus on profitability (ROA) directly, rather than DER, when evaluating stock prices. This approach can help refine financial analysis models and investment strategies,
Peran Mediasi Kebijakan Dividen Pada Pengaruh Struktur Modal Terhadap Nilai Perusahaan Elawati Dewi; Akhmadi Akhmadi; Wawan Ichwanudin
Sains: Jurnal Manajemen dan Bisnis Vol 18, No 2 (2026)
Publisher : Universitas Sultan Ageng Tirtayasa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35448/jmb.v18i2.40116

Abstract

This study examines the role of dividend policy in mediating the effect of capital structure on firm value. The population in this study was all 83 companies in the Basic Industry and Chemicals subsector listed on the Indonesia Stock Exchange for the 2015-2021 period. The sample consisted of 58 companies in the Basic Industry and Chemicals subsector listed on the IDX for the 2015-2021 period, determined using a purposive sampling technique. Data collection methods used library research and documentation research. Data analysis used STATA. The results showed that capital structure had a significant negative effect on firm value. Capital structure had a positive but insignificant effect on dividend policy. Dividend policy had a positive but insignificant effect on firm value. Dividend policy did not mediate the effect of capital structure on dividend policy.
Resource-based strategy for enhancing village-owned enterprise competitive advantage: Impact of capabilities and networks Roni Kambara; Wawan Ichwanudin; Hayati Nupus; Asas Worasutr
Jurnal Fokus Manajemen Bisnis Vol. 15 No. 2 (2025)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/fokus.v15i2.13376

Abstract

Village-owned enterprise have faced increasing challenges in improving their competitiveness in a rapidly evolving market environment. Effective resource management and good governance practices are seen as key factors that could drive competitive advantage, while supply chain flexibility and strong business networks are essential for village-owned enterprise to adapt to changing market conditions. This study aims to examine the relationship between resource management capabilities, good governance excellence, supply chain flexibility, and business network acceptability in relation to competitive advantage levels in village-owned enterprise in Indonesia. Using a quantitative approach with a survey design, data was collected through an  online  survey  of  120  village-owned enterprise managers who had worked for at least 1 years. Data analysis was conducted using partial least squares and structural equation modeling. The results show that resource management capabilities and Good Governance Excellence do not have a significant direct effect on competitive advantage levels. However, business network acceptability plays a mediating role that strengthens the relationship between resource management capabilities and increased competitiveness. This study provides practical implications that effective resource management and strong business networks can enhance company competitiveness. Further research is recommended to broaden the scope by involving other sectors to test this model.
Co-Authors Adikusumah, Kreshna Aditia, Septian Akhmadi Akhmadi Alfiana, Dede Ana Susi Mulyani Apin Apiun Asas Worasutr Atsilah, Yasmin Bambang Hermawan Dea Ariana Dwika Ayu Amrita, Nyoman EKA KURNIASARI Elawati Dewi Faisal, Ijang Fauzi Sanusi Fauzi, Fendy Ahmad Fitriah, Fitriah Ginanjar, Seandy Handayani, Maria Eki Hayati Nupus Helmi Yazid Ika Utami Widyaningsih Imam Abu Hanifah Istiqomah, Atika Rizki Jayawarsa, A.A. Ketut Khaerunnisa, Enis Olivia Monica Paisal Anwar Purbasari, Intan Raden Mohamad Herdian Bhakti Raharja, Arif Budi Roni Kambara Salma Salma Sanusi, Fauji Singgih Widigdya Sumarna, Enang Surianingrat, Entol Muamar Suryani, Emma Suryani, Emma Tri Hijrah Saputro Tubagus Ismail Widigdya, Singgih Zaenal Aripin