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PENGARUH PROFITABILITY, CAPITAL STRUCTURE DAN FIRM SIZE TERHADAP FIRM VALUE DENGAN INVESTMENT OPPORTUNITY SET SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024 Alfa Ayu Miftakhul Jannah; Ika Wahyuni; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 2 (2026): FEBRUARI
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i2.8193

Abstract

The capital market serves as a funding source for companies and an investment medium for the public in financial instruments. The existence of the capital market aims to provide long-term capital sources for the business world while creating income distribution through public stock ownership. This study aims to analyze and test the influence of profitability, capital structure, and firm size on firm value with the investment opportunity set as an intervening variable in LQ45 index companies listed on the Indonesia Stock Exchange for the 2022-2024 period. This research is a quantitative study with a causal approach aimed at explaining the relationships between variables. The population in this study consists of companies listed in the LQ45 index during the observation period. The sampling technique was determined using a purposive sampling method. Data analysis and hypothesis testing in this study utilize Structural Equation Modeling – Partial Least Square (PLS-SEM). The results of the direct effect hypothesis testing using the SmartPLS 3.0 application show that capital structure and firm size have a significant effect on firm value. Profitability and the investment opportunity set were found to have no significant effect on firm value. Profitability, capital structure, and firm size also do not significantly affect the investment opportunity set. The results of the indirect effect test indicate that the investment opportunity set is unable to mediate the influence of profitability, capital structure, or firm size on firm value.
PERAN KEBIJAKAN DEVIDEN DALAM MEMODERASI RETURN ON ASSETS DAN DEB EQUITY RATIO TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PROPERTY DAN REAL ESTATE DI BEI PERIODE 2021 -2023 Friyan Hidayah; Triska Dewi Pramitasari; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 6 (2025): JUNI 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i6.6647

Abstract

Financial management has a very important role in creating company value, especially in the property and real estate sector which is known for its high asset value. This study aims to analyze the effect of Debt to Equity Ratio (DER) and Price to Book Value (PBV) on the stock price of property and real estate companies listed on the Indonesia Stock Exchange, and test the moderating role of Earning Per Share (EPS) in the relationship between the two financial ratios. The population in this study involved all property and real estate companies listed on the Indonesia Stock Exchange. Samples were taken using purposive sampling method based on certain criteria during the research period. Data analysis was carried out with a Structural Equation Modeling approach based on Partial Least Square (PLS-SEM) using SmartPLS 3. 0 software. The results of hypothesis analysis show that both Debt to Equity Ratio (DER) and Price to Book Value (PBV) have a significant positive effect on stock prices. However, Earning Per Share (EPS) is not proven to moderate the relationship between Debt to Equity Ratio and Stock price. On the other hand, Earning Per Share actually acts as a significant amplifier of the positive relationship between Price to Book Value and Stock price.
PENGARUH EARNING PER SHARE, PRICE EARNING RATIO DAN RETURN ON ASSET TERHADAP RETURN SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN BANK UMUM YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2020 – 2023 Achmad Suyuti; Lita Permata Sari; Minullah Minullah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 7 (2025): JULI 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i7.7072

Abstract

This study aims to analyze the influence of Earnings Per Share, Price to Earnings Ratio, and Return on Assets on Stock Returns with Dividend Policy as an Intervening Variable in Commercial Bank Companies Listed on the Indonesia Stock Exchange in 2020-2023. The purpose of this study is to analyze the influence of Earnings Per Share (EPS), Price to Earnings Ratio (PER), and Return on Assets (ROA) on stock returns and dividend policy, as well as the mediating role of stock returns in this relationship. The analysis method used path analysis with hypothesis testing based on the path coefficient, T-statistic, and p-value. The results showed that EPS had a positive and significant effect on stock returns (coefficient = 0.572; p-value = 0.000), while PER and ROA had no significant effect. Furthermore, stock returns were shown to have a very strong effect on dividend policy (coefficient = 0.993; p-value = 0.000). Mediation analysis revealed that stock returns fully mediated the relationship between EPS and dividend policy (indirect effect = 0.568; p-value = 0.000), but did not mediate the relationship between PER and ROA and dividend policy. This finding implies that increasing EPS can drive higher stock returns, which ultimately influences a company's dividend policy. Meanwhile, PER and ROA did not have a significant impact either directly or indirectly.
PENGARUH RETURN ON EQUITY (ROE), DEBT TO EQUITY RATIO (DER), DAN TOTAL ASSET TURNOVER (TATO) TERHADAP NILAI PERUSAHAAN DENGAN HARGA SAHAM SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE 2022-2024 Faridatul Umay Lira; Lita Permata Sari; Triska Dewi Pramitasari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 1 (2026): JANUARI 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i1.8214

Abstract

With stock price acting as an intervening variable, this study attempts to examine the effects of Return on Equity (ROE), Debt to Equity Ratio (DER), and Total Asset Turnover (TATO) on Company value. The food and beverage firms listed on the Indonesia Stock Exchange (IDX) between 2022 and 2024 are the subject of this study. This study employed purposive sampling and sampled 12 companies. The data analysis tool used in this study was smart PLS 3.0. The data analysis methods included classical assumption tests, consisting of multicollinearity and normality tests, coefficient of determination tests, structural equation analysis (Inner Model), and hypothesis testing. The findings from the direct effect hypothesis test indicate that Return on Equity (ROE) has a negative but insignificant effect on stock price; Debt to Equity Ratio (DER) also has a negative but insignificant effect on stock price; and Total Asset Turnover (TATO) has a positive but insignificant effect on stock price. Return on Equity (ROE) demonstrates a positive and significant effect on firm value. The Debt to Equity Ratio (DER) has a negative but insignificant impact on firm value. Total Asset Turnover (TATO) has a significant positive impact on firm value. Stock price has a positive but insignificant impact on firm value. Meanwhile, the results of the indirect effect hypothesis test indicate that Return on Equity (ROE) and Debt to Equity Ratio (DER) simultaneously have a negative but insignificant impact on firm value through stock price; while Total Asset Turnover (TATO) has a positive but insignificant impact on firm value through stock price.
PENGARUH KERAGAMAN PRODUK, KUALITAS PRODUK DAN HARGA TERHADAP KEPUTUSAN PEMBELIAN DENGAN KEPUASAN KONSUMEN SEBAGAI VARIABEL INTERVENING PADA RENGGINANG IBU IMAM DI SITUBONDO Mohammad Imam Ali Ghufran; Lita Permata Sari; Minullah Minullah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 9 (2025): SEPTEMBER 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i9.7203

Abstract

Marketing plays a crucial role in a company and is highly connected to the external environment, particularly the market environment. This research aims to analyze the effect of product variety, product quality, and price on purchasing decisions with consumer satisfaction as an intervening variable at Rengginang Ibu Imam in Situbondo. The population in this study consisted of consumers of Rengginang Ibu Imam. The sampling method was determined using Probability Sampling. Data analysis and hypothesis testing in this study used the Structural Equation Model – Partial Least Square (PLS-SEM). The results of the direct effect hypothesis test using the Smart PLS 3.2.8 application showed that: Product variety has a positive but not significant effect on consumer satisfaction; Product quality has a significant positive effect on consumer satisfaction; Price has a significant positive effect on consumer satisfaction; Product variety has a significant positive effect on purchasing decisions; Product quality has a significant positive effect on purchasing decisions; Price has a significant positive effect on purchasing decisions; Consumer satisfaction has a positive but not significant effect on purchasing decisions; Product variety has a positive but not significant effect on purchasing decisions through consumer satisfaction; Product quality has a positive but not significant effect on purchasing decisions through consumer satisfaction; Price has a positive but not significant effect on purchasing decisions through consumer satisfaction.
PERAN KINERJA KEUANGAN DALAM MEMEDIASI PENGARUH UKURAN PERUSAHAAN, STRUKTUR MODAL, DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI DASAR DAN KIMIA YANG TERDAFTAR DI BEI PERIODE 2022-2024 Rizka Gabriella Sandy; Ida Subaida; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 1 (2026): JANUARI 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i1.8191

Abstract

The basic and chemical industry sector within manufacturing companies plays a strategic role in supporting national industrial activity because it produces various basic products used in production processes across various sectors. The purpose of this study is to analyze and test the role of financial performance in mediating the influence of company size, capital structure, and sales growth on firm value. The method used in this study is descriptive quantitative. The population in this study were manufacturing companies in the basic and chemical industry sector listed on the Indonesia Stock Exchange (IDX) in 2022-2024. Purposive sampling was the sampling technique in this study. This study used Partial Least Squares – Structural Equation Modeling (PLS-SEM). The results of the hypothesis test using the Smart PLS 3.0 statistical application indicate that company size has a negative but insignificant effect on financial performance, capital structure has a significant negative effect on financial performance, sales growth has a significant positive effect on financial performance, company size has a significant positive effect on firm value, capital structure has a negative but insignificant effect on firm value, sales growth and financial performance have a positive but insignificant effect on firm value. Financial performance negatively but insignificantly mediates the influence of firm size and capital structure on firm value. Financial performance positively but insignificantly mediates the influence of sales growth on firm value.
PENGARUH KUALITAS PELAYANAN, PROMOSI SOSIAL MEDIA DAN LOKASI TERHADAP KEPUASAN KONSUMEN MELALUI KEPUTUSAN PEMBELIAN SEBAGAI VARIABEL INTERVENING PADA BENGKEL PROJECT GARAGE DI SITUBONDO Muhamad Zitkul Aziz; Lita Permata Sari; Lusiana Tulhusnah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 9 (2025): SEPTEMBER 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i9.7201

Abstract

This study analyzes the influence of service quality, social media promotion, and location on purchasing decisions and consumer satisfaction at the Project Garage Workshop, with purchasing decisions as an intervening variable. A quantitative research method was applied using path analysis to test the hypotheses. The research results prove that location is a key factor with a significant and positive influence, both directly on purchasing decisions and indirectly on consumer satisfaction, mediated by purchasing decisions. This finding is consistent with previous research that emphasizes the strategic role of location in the service industry. Meanwhile, social media promotion only proved to have a significant direct effect on customer satisfaction, indicating that while social media is effective in building engagement, its effectiveness in driving purchasing decisions is still limited. Meanwhile, service quality did not show a significant direct or indirect effect, indicating that consumers perceive the service provided as industry standard and therefore not a key differentiator. These findings conclude that purchasing decisions significantly influence customer satisfaction, and that Project Garage customers prioritize location factors and practical considerations such as price and waiting area comfort over service quality and social media promotion. The managerial implications of this study emphasize the importance of maintaining the advantage of location accessibility, optimizing more targeted digital marketing strategies, and enhancing other supporting elements such as the workshop's physical comfort and competitive pricing to build customer satisfaction holistically and sustainably.
PENGARUH KOMPENSASI, PROMOSI JABATAN DAN DISIPLIN KERJA TERHADAP KINERJA APARATUR SIPIL NEGARA (ASN) DI SEKRETARIAT DAERAH KABUPATEN SITUBONDO Bariatul Qomariah; Edy Kusnadi Hamdun; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 12 (2025): DESEMBER 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i12.8069

Abstract

This study aims (1) to determine the partial effect of compensation, job promotion and work discipline on ASN performance (2) to determine the simultaneous effect of compensation, job promotion and work discipline on ASN performance (3) to determine compensation, promotion and discipline work that has a dominant influence on the performance of ASN. The method used is multiple linear regression analysis, t test, f test, dominant test and coefficient of determination. The result of this research is multiple linear regression equation Y = -8,300E-17 + 0.404X1 + 0.270X2 + 0.257X3 + e. The results of the t-test of the compensation variable are tcount 3,580 > ttable 2,004. The variable of job promotion is tcount 2,335 > ttable 2,004. The variable of work discipline is tcount 2.189 > ttable 2.004. Then the variables of compensation, promotion and work discipline partially affect the performance of ASN. The results of the F test show the value of Fcount 10.236 > Ftable 2.78, so compensation, promotion and work discipline simultaneously affect the performance of ASN. The dominant test results for compensation variables are 3.580, job promotions are 2.335 and work discipline are 2.189, then the value of the compensation variable is greater than the variable of job promotion and work discipline, which is 3.580 thus, the compensation variable that has a dominant influence on ASN performance.
PENGARUH LOAN to DEPOSIT RATIO, NON PERFORMING LOAN, DAN DEBT TO EQUITY RATIO DALAM MEMPENGARUHI PROFITABILITAS SEBAGAI VARIABEL INTERVENING TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BEI PERIODE 2022-2024 Siswanti Siswanti; Ida Subaida; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 3 (2026): MARET 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i3.8828

Abstract

Banks are institutions operating in the financial services sector and serve as intermediaries between parties with excess funds and those in need of funds. This study aims to examine the effects of the Loan to Deposit Ratio, Non Performing Loans, and Debt to Equity Ratio on Firm Profitability and Value. The research method used in this study is quantitative descriptive. The population in this study is all banking companies listed on the Indonesia Stock Exchange (IDX) for the 2022-2024 period. The sampling technique used was purposive sampling. Data analysis and hypothesis testing were conducted using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The results of direct hypothesis testing using SmartPLS 3.0 indicate that the Loan to Deposit Ratio, Non Performing Loans, and Debt to Equity Ratio have a negative and significant effect on Profitability. Meanwhile, the Loan to Deposit Ratio, Non Performing Loans, and Debt to Equity Ratio have positive but insignificant effects on Firm Value. Profitability has a positive and significant effect on Firm Value. The results of the indirect hypothesis testing indicate that Profitability mediates the significant negative effects of the Loan to Deposit Ratio, Non Performing Loans, and Debt to Equity Ratio on Firm Value.
PENGARUH KOMPETENSI, MOTIVASI KERJA, DAN LOYALITAS TERHADAP KINERJA KARYAWAN PADA PERUSAHAAN DAERAH PASIR PUTIH KABUPATEN SITUBONDO Abdul Malik Jazuli; Mohammad Yahya Arief; Lita Permata Sari
Jurnal Mahasiswa Entrepreneurship (JME) Vol 4 No 12 (2025): DESEMBER 2025
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v4i12.8070

Abstract

The background of this research is that the main problem in human resource management that deserves attention is employee performance. Employee performance is considered important for the company because the success of a company is influenced by the performance of the employees themselves. This research was conducted with the aim of knowing the partial, simultaneous, and dominant influence of Competence, Work Motivation, and Loyalty on Employee Performance at Regional Company the Pasir Putih, Situbondo Regency. The research method used is the method of observation, literature study, and documentation. The data analysis method used validity test, reliability test, classical assumption test, multiple linear regression analysis, hypothesis test, dominant test, and coefficient of determination. Based on the results of multiple linear regression shows that the variables Competence (X1), Work Motivation (X2) and Loyalty (X3). Y = -1.102E-16 + 0.530X1 + 0.235X2 + 0, 240X3 + e. The tcount for this Competency variable is 3.929. While the value in the 5% distribution ttable is 2.048, then tcount 3.929 > ttable 2.048 means Ho is rejected or Ha is accepted. The t-value for this Work Motivation variable is 2.381. While the value in the 5% distribution ttable is 2.048, then tcount 2.381> ttable 2.048 means Ho is rejected or Ha is accepted. Meanwhile, the tcount value for this Loyalty variable is 2,920. While the value in the 5% distribution ttable is 2,048, then tcount 2,920 > ttable 2,048 means Ho is rejected or Ha is accepted. Comparing the value of Fcount (69.893) > Ftable (2.92) based on statistical testing using the f test method, where the significant level obtained is 0.000 < 0.05. Showing the value of the coefficient of determination R square shows a value of 0.875, from these results it means that all independent variables (Competence, Work Motivation, and Loyalty) have a contribution of 87.5% to the dependent variable (Employee Performance) with a sufficient level of determination, and the remaining 12 ,5% influenced by other factors not included in the study.