Dewa Gede Wirama
Magister Akuntansi Fakultas Ekonomi Dan Bisnis Universitas Udayana

Published : 84 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Dividend Policy As A Moderator of The Effect of Liquidity and Leverage on Firm Value Sianggi Narina Sukmajaya; Dewa Gede Wirama
International Journal of Economics, Management and Accounting Vol. 2 No. 4 (2025): International Journal of Economics, Management and Accounting
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijema.v2i4.868

Abstract

Firm value refers to the price a prospective buyer is willing to pay if the company were to be sold. It serves as an economic metric to assess the overall financial position of a company, reflecting how valuable the firm is in terms of its assets, earnings, growth potential, and other relevant factors. This study aims to analyze dividend policy as a moderating variable in the relationship between liquidity, leverage, and firm value among organizations listed on the Indonesia Stock Exchange (IDX) in 2023. The data employed in this study is secondary information sourced from annual financial reviews published through the reliable IDX website or the companies’ individual websites. Liquidity is estimated using the current ratio, leverage is estimated using the debt-to-equity ratio, firm value is calculated using the price-to-book value, and dividend policy is calculated using the dividend payout ratio. The sample consists of 248 companies, selected using the Slovin sampling technique. The findings reveal that liquidity and leverage have no impact on firm value. Dividend policy does not slight the impact of liquidity on firm value. However, dividend policy does moderate the effect of leverage on firm value.
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.
The Moderating Role of Underwriter Reputation in the Relationship Between Financial Performance and Underpricing Levels Made Rani Kusuma Dewi; Gayatri; Dewa Gede Wirama
E-Jurnal Akuntansi Vol. 35 No. 9 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2025.v35.i09.p06

Abstract

The situation in which the price of the stock in the initial offering is lower than the price of the stock in the secondary market is known as underpricing. This phenomenon results in the funds or capital obtained by the company being suboptimal. However, in order to secure an initial return on their investment, investors in the primary market prefer to see underpricing occur. This research aims to examine whether the impact of profitability, financial leverage, and liquidity on the degree of underpricing can be mitigated by the reputation of the underwriter. The study focused on non-financial firms that went public between 2018 and 2023. A purposive sampling technique was used to select the sample, resulting in 294 companies. The data for this study were analyzed using moderated regression analysis techniques. The study shows that underpricing is negatively affected by profitability and liquidity, and that underwriter reputation acts as a pure moderator of the effect of financial leverage on underpricing.
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 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 Rani Kusuma Dewi 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 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 S. Agus Andy Surya Dharma Sang Ayu Putu Puji Astuti Sianggi Narina Sukmajaya Simpen I Wayan Vicky Vicky Virra Indah Perdanawati Yolanda Marsyella Simangunsong