Dewa Gede Wirama
Magister Akuntansi Fakultas Ekonomi Dan Bisnis Universitas Udayana

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The Effect of Profitability on Debt Policy with Dividend Policy as a Moderating Variable Ni Kadek Sintya Pratiwi; Dewa Gede Wirama
ePaper Bisnis : International Journal of Entrepreneurship and Management Vol. 2 No. 3 (2025): ePaper Bisnis : International Journal of Entrepreneurship and Management
Publisher : Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/epaperbisnis.v2i3.469

Abstract

Profitability is one of the key indicators in assessing a company's ability to generate profits and plays a crucial role in financial decision-making. According to the pecking order theory, companies with high profitability tend to prefer using internal funds and reduce reliance on debt. This study aims to analyze the effect of profitability on debt policy, as well as to examine the role of dividend policy as a moderating variable in this relationship. The study employed Slovin’s formula for sample selection and analyzed 263 non-financial publicly listed companies on the Indonesia Stock Exchange (IDX) in 2023. The data used in this research were secondary data obtained from annual financial reports published on the official website of the IDX or the respective company websites. Profitability was measured using return on assets (ROA), debt policy was measured by the debt-to-equity ratio (DER), and dividend policy was measured by the dividend payout ratio (DPR). The analytical method used in this study was multiple linear regression analysis with the help of the SPSS software. The results indicate that profitability has a negative effect on debt policy, meaning that the more profitable a company is, the less likely it is to depend on debt financing. Additionally, the findings suggest that dividend policy does not significantly moderate the relationship between profitability and debt policy. This implies that whether a company distributes dividends or not does not meaningfully influence how profitability affects its debt decisions. These results are in line with the pecking order theory and provide insight for corporate financial managers in planning funding structures. It also emphasizes the importance of internally generated funds for companies with strong earnings performance.
Behavioural Reasoning Theory Perspectives: Hospitality Accounting System Adoption Dwiyanti, I Gusti Kadek Anggiriska; Dewa Gede Wirama
Jurnal Akuntansi Vol. 28 No. 3 (2024): September 2024
Publisher : Fakultas Ekonomi dan Bisnis Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ja.v28i3.2151

Abstract

This study delves into the behavioural intention to adopt Hospitality Accounting Systems (HAS) in Bali's villa accommodation sector, employing the Behavioral Reasoning Theory (BRT) framework. Through a representative sample of 363 villa owners or managers, utilising the PLS-SEM technique, it explores how personal values, reasons for and against, and attitudes influence HAS adoption intentions. The findings underscore the significant impact of attitude on adoption intentions, with values significantly affecting attitude and reasons for and against. Interestingly, while reasons for directly influence intention, reasons against have the opposite effect. Future research avenues could explore additional factors influencing technology adoption and delve into the long-term implications of technology integration on organisational performance and user satisfaction. This study enriches theoretical frameworks and offers actionable insights for enhancing technology adoption in the hospitality industry and beyond.
REAL EARNINGS MANAGEMENT AND FIRM VALUE: THE ROLE OF INSTITUTIONAL OWNERSHIP AS MODERATING VARIABLE Ni Luh Putu Nirmala Jayanti; Dewa Gede Wirama
E-Jurnal Ekonomi dan Bisnis Universitas Udayana VOLUME.14.NO.11.TAHUN.2025
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/

Abstract

Firm value can be seen as the perception of investors in assessing the success of a firm through share prices. The share valuation that investors often use is PBV with the expectation of gaining profits. Managers are motivated to maintain profits with various efforts, such as real earnings management (REM). This study aims to obtain empirical evidence of the effect of REM on firm value moderated by institutional ownership. The research focuses on infrastructure firms listed on the Indonesia Stock Exchange during 2021-2023. The research method uses non-probability sampling, purposive sampling technique as many as 83 observations. Firm value is measured by PBV, REM is measured by Roychowdhury's 2006 model, and institutional ownership is calculated by the institutional shares divided by total outstanding shares. Through MRA analysis, it is obtained that REM has a negative effect on firm value and institutional ownership weakens the influence of real earnings management on firm value. The theoretical implications of this research are to confirm agency theory and the contingency approach. On the other hand, the practical implication is that it is important for investors and potential investors to be more careful in assessing the profit quality and company performance as a basis for taking decisions.
PREDIKSI FINANCIAL DISTRESS DENGAN MODEL ALTMAN DAN ZMIJEWSKI Regita Puji Cahyani; Dewa Gede Wirama
NETIZEN: JOURNAL OF SOCIETY AND BUSSINESS Vol. 1 No. 10 (2025)
Publisher : CV. ADIBA AISHA AMIRA

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to analyze the prediction of financial distress in all non-financial companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period using the Altman Z-Score Model and the Zmijewski Model, as well as to compare the predictive accuracy of the two models. Financial distress is a condition in which a company experiences financial difficulties that may lead to bankruptcy. This research employs a quantitative approach with a descriptive method. A total sample of 250 companies was determined using stratified random sampling and analyzed with the non-parametric Mann-Whitney test, along with prediction accuracy testing using the bootstrapping method. The results indicate a significant difference between the Altman and Zmijewski models in predicting financial distress. Furthermore, the Zmijewski model demonstrates a higher predictive accuracy of 95.1% compared to 89.6% for the Altman model. These findings are expected to provide both theoretical and practical contributions, particularly in decision-making processes for company management, investors, and creditors.
Co-Authors A.A Ari Krisnawati A.A. Rai Niti Darmika Sukawati Adisti Maharani Krisna Agustina Marsella Klau Seran Amrulloh Amrulloh Anak Agung Gde Putu Widanaputra Anak Agung Istri Jayanti Hotama Ary Sinar Deany Desak Made Mya Yudia Sari Dewa Nyoman Badera Dwi Anggreni Sukarma Dwiyanti, I Gusti Kadek Anggiriska Egidius Imanuel Laka Elizabeth Karina Adji Endra Kartika Yudha Erlangga Suryarahman Eva Yunita Gayatri Gayatri Gede Made Ananda Cipta Nugraha Gentha Putri Wardana Gusti Ayu Agung Ista Pradnyayani Gusti Ayu Kade Risanti Darmawan Gusti Ayu Surya Rosita Dewi I G A Ayu Pradnyani Harum Dewi I G. Agung Yuli Saputri I Gusti Ayu Made Asri Dwija Putri I Gusti Ayu Prima Asriwahyuni I Gusti Ngurah Agung Suaryana I Kadek Diky Agusnawan I Made Indra Pratama I Made Sukartha I Putu Bayu Suyadnya Pratama I Putu Eka Adiputra I Putu Sudana I Putu Surya Dhinata I Putu Yuda Mahendra I Wayan Suartana I.G.A.M. Asri Dwija Putri Ida Bagus Putu Mahasena Jacqueline Immanuele Firstiany Jems Arison Zacharias Kadek Agustina Anggara Jaya Kadek Hira Mahandari Kadek Nita Sumiari KOMANG AYU KRISNADEWI Kompiang Martina Dinata Putri Made Dwi Harmana Made Gede Wirakusuma Made Sukma Mutiara Pramita Sari Made Yuvi Adriana Nugraha Maria Meiatrix Ratna Sari Mulyawan, I Putu Arya Ni Kadek Sintya Pratiwi Ni Ketut Modi Pitriani Ni Ketut Rasmini Ni Komang Bella Sri Lestari Ni Luh Kusumayani Ni Luh Putu Karisma Julianti Ni Luh Putu Nirmala Jayanti Ni Made Adi Erawati Ni Made Ari Astuti Ni Made Cesya Pratiwi Ni Made Dwi Ratnadi Ni Made Karina Dwitya Savitri Ni Made Mirayanti Ni Nengah Witri Astiti Ni Nyoman Ayu Armini Ni Nyoman Sri Rahayu Damayanti Ni Putu Adi Pertiwi Ni Putu Nonik Hariasih Ni Putu Ria Arista Dewi Ni Putu Yunita Chandra Ni Wayan Ajeng Ferdina Ni Wayan Ayu Kasmini Ni Wayan Pitriyani Ni Wayan Trisna Kusumayanti NI WAYAN YUNIASIH Ninis Novitasari Oscar Govinda Duarsa P.Ayu Ratna Dewi Pande Kadek Ary Raditya Permadi Putri Larasati Putu Aninsa Anggariani Putri Putu Desy Pirdayanti Putu Diah Asrida Putu Sri Mae Yanti Dewi Putu Surya Adi Tama Putu Tuwentina Regita Puji Cahyani S. Agus Andy Surya Dharma Sang Ayu Putu Puji Astuti Sianggi Narina Sukmajaya Simpen I Wayan Vicky Vicky Virra Indah Perdanawati Yolanda Marsyella Simangunsong