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EVALUASI EFEKTIVITAS SISTEM PENGENDALIAN INTERN PIUTANG PADA PERGURUAN TINGGI NEGERI (SUATU STUDI KASUS) Hastuti, Hastuti; Burhany, Dian Imanina; Rufaedah, Yanti; Mai, Muhammad Umar; Rochendi, Hendi
Jurnal Riset Akuntansi Vol 13 No 1 (2021): Jurnal Riset Akuntansi
Publisher : Program Studi Akuntansi | Fakultas Ekonomi dan Bisnis | Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jra.v13i1.4454

This study aims to evaluate the extent to which the internal control system for non-tax state revenue receivables (PNBP) at a vocational college in Bandung has been running effectively, considering the value of the receivables always increases from year to year. This study uses a combined analysis method, namely quantitative and qualitative descriptive and operationalized research variables with reference to the elements of the COSO internal control system adopted in Government Regulation Number 60 of 2008 concerning SPIP (Government Internal Control System) and adapted to the research objectives. The research data consists of primary data and secondary data collected through questionnaires, interviews, observation and documentation. The data analysis used the analysis of the results of the questionnaire on 5 sub variables and 47 indicators of internal control. The research findings show that the overall internal control system for PNBP accounts is still ineffective with an effectiveness score of 0.3821. Because 4 of the 5 control components, namely the control environment, risk assessment, control activities as well as information and communication are still not effective. Meanwhile, one component of control, namely monitoring, is said to be quite effective. Increasing the effectiveness of the implementation of the internal control system for PNBP receivables is expected to be able to improve the performance of the financial department or the organization as a whole by increasing the collectability of PNBP receivables. Keywords: Effectiveness, Internal Control System, Non-Tax State Revenue Receivables (PNBP)

CORPORATE SOSIAL RESPONSIBILITY DAN KINERJA PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR KRITERIA SYARIAH Setiawan, Setiawan; Mai, Muhamad Umar; Galuh, Nadya Raina
Jemasi: Jurnal Ekonomi Manajemen dan Akuntansi Vol 16 No 2 (2020): Jemasi: Jurnal Ekonomi Manajemen dan Akuntansi
Publisher : Fakultas Ekonomi Universitas IBA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35449/jemasi.v16i2.189

The purpose of this study is to investigate how the influence of corporate social responsibility towards the corporate performance in general, and the influence of each subject of the corporate social responsibility. Corporate social responsibility is companyâ€™s activities in achieving a balance or integrations between the economic, social, and environment development without compromising the expectations of shareholder (obtain profit). In this research corporate performance measured by ROE (return on equity). The samples used in this study are all manufacturing companies enrolled in Indeks Saham Syariah Indonesia listing in 2017 and published the annual report in 2017 by using method of purposive judgement sampling. There are 87 companies that meet the criteria of the study sample. The analysis method used is path analysis. Data collection method used in this research is a method of documentation and literature study method. The results of this study indicate that the disclosure of CSR as in general has a significant effect on the performance of the company with a positive traits. Disclosure of CSR in the economic subject has no significant effect on company performance. Disclosure of CSR in the Environment has a significant effect on the performance of companies with positive traits. Disclosure of CSR in the Social subject has a significant effect on the performance of the company with a positive traits.

ANALISIS PENENTUAN MODEL MERGER-AKUISISI YANG SINERGIS DI BURSA EFEK INDONESIA Mai, Muhamad Umar
Jurnal Keuangan dan Perbankan Vol 20, No 3 (2016): September 2016
Publisher : University of Merdeka Malang

The aim of this study was as follow: a) to examine the differences in financial performance and the value of the firm before and after the merger-acquisition of go public company in Indonesia Stock Exchange for the period of 2000-2012;b) to identify and analyze the critical success factors of mergers-acquisitions; c) designing a model of synergistic merger-acquisition. Wilcoxon signed ranks test results showed that the financial performance and the value of the company for certain years are different, in the sense of increased, significantly. The determinant factors of successfull merger-acquisition of 30 synergistic firms, are: a) current ratio and cash ratio was below the industry average; b) debt to asset ratio and debt to equity ratio is above the industry average; c) return on investment and return on equity also above the industry average. Analysis of the 30 synergisticbidders firm shows that the company has a very adequate corporate governance mechanism, namely: a) more than 50% of its stocks owned by other institutions; b) the shares held by the management is below 5%; c) the membership of the board of commissioners and directors have an independent boards and outside directors of more than 30%; and d) the average number of commissioners as many as six people.

PENGARUH CORPORATE SOSIAL RESPONSIBILITY TERHADAP KINERJA PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR SYARIAH Nadya, Galuh Raina; Mai, Muhamad Umar; Setiawan, Setiawan
Ekonomi & Bisnis Vol 19 No 1 (2020): JURNAL EKONOMI BISNIS VOL 19 NO 1 JUNI 2020
Publisher : Politeknik Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32722/eb.v19i1.2782

The purpose of this study is to investigate how the influence of corporate social responsibility towards the corporate performance in general, and the influence of each subject of the corporate social responsibility. Corporate social responsibility is companyâ€™s activities in achieving a balance or integrations between the economic, social, and environment development without compromising the expectations of shareholder (obtain profit). In this research corporate performance measured by ROE (return on equity). The samples used in this study are all manufacturing companies enrolled in Indeks Saham Syariah Indonesia listing in 2017 and published the annual report in 2017 by using method of purposive judgement sampling. There are 87 companies that meet the criteria of the study sample. The analysis method used is path analysis. Data collection method used in this research is a method of documentation and literature study method. The results of this study indicate that the disclosure of CSR as in general has a significant effect on the performance of the company with a positive traits. Disclosure of CSR in the economic subject has no significant effect on company performance. Disclosure of CSR in the Environment has a significant effect on the performance of companies with positive traits. Disclosure of CSR in the Social subject has a significant effect on the performance of the company with a positive traits.

MEDIATION OF CSR AND PROFITABILITY ON THE INFLUENCES OF GCG MECHANISMS TO THE FIRM VALUE Muhamad Umar Mai
Jurnal Keuangan dan Perbankan Vol 21, No 2 (2017): April 2017
Publisher : University of Merdeka Malang

The purpose of this research was to determine the causal relationship among GCG mechanism, financial performance, CSR and firm’s value. The model of the research was constructed by using financial performance and CSR as intervening variables on the effect ofGCG mechanism to firm’s value. This research was accomplished on companies listed in Jakarta Islamic Index (JII) in Indonesia Stock Exchange for the period of 2007-2013. The result showed that GCG mechanism tended to reject every CSR financing. CSR was positively affected by Return on Investment (ROI). GCG mechanism represented by institutional ownership (INWN) had a positive effect on ROI. ROI had a positive effect to return on equity (ROE), and ROE had a positive effect on the firm’s value. This study proved that ROI was mediating significantly the effect of INWN to CSR, and ROE was mediating significantly the effect of ROI to firm’s value.

Determinants of capital structure in Sharia criteria manufacturing firms on the Indonesia Stock Exchange Muhamad Umar Mai
Jurnal Keuangan dan Perbankan Vol 23, No 3 (2019): July 2019
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v23i3.1860

Theories and results of research on the determinants of a firm’s capital structure provide different explanations and evidence. Sharia criteria companies on the Indonesia Stock Exchange (IDX) are not allowed to have a ratio of total interest-based debt to total assets of more than 45%, which predicted have an impact on the determinants of their capital structure. This research was conducted at Sharia criteria manufacturing companies on the Indonesia Stock Exchange in 2011-2017. The results of the analysis showed that only profitability had the same direction that is negative on the two capital structure measures, book leverage and market leverage. Growth opportunity and firm size have different effects on the two capital structure measures, which are a positive effect on book leverage and negative on market leverage. Tangibility, business risk, and inflation only affect market leverage. Tangibility and inflation have a positive effect on market leverage, while business risk has a negative effect. This study found no evidence that gross domestic product (GDP) affects leverage, both on book leverage and market leverage.JEL Classification: C12, C33, E22, E52, G32DOI: https://doi.org/10.26905/jkdp.v23i3.1860

PENGARUH GROWTH DAN LEVERAGE TERHADAP PRICE TO BOOK VALUE DALAM MEDIASI RETURN ON EQUITY DAN DIVIDEND PAYOUT RATIO Studi Pada Perusahaan Jakarta Islamic Index Di Bursa Efek Indonesia Muhamad Umar Mai
Orasi Bisnis : Jurnal Ilmiah Administrasi Niaga Vol. 10 No. 5 (2013): Orasi Bisnis
Publisher : Politeknik Negeri Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (155.146 KB)

This study aims to examine the influence of leverage and growth to price book value, and test the mediation return on equity and dividend payout ratio in the causal relationship. The study population was categorized as a company of Jakarta Islamic Index listed on the Indonesia Stock Exchange in the period 2004-2009. Data collection methods used is purposive sampling. Criteria on the sample used, the company must have positive earnings per share and issued financial statements make it possible to determine the variables of the study. Testing of all hypotheses in this study using path analysis with Amos 16.0 package program. Furthermore, some important findings from this study can be stated as follows: 1) growth does not significantly effect the price to book value, 2) leverage has positive and significant effect on the price to book value, 3) return on equity and dividend payout ratio to mediate the influence growth of the price to book value. However, this study found no evidence that the return on equity mediates the effect of leverage on price to book value.

PENGARUH MEKANISME CORPORATE GOVERNANCE TERHADAP NILAI PERUSAHAAN DAN MEDIASI KEBIJAKAN DIVIDEN Mochamad Umar Mai
Ekonomi & Bisnis Vol 10 No 1 (2011): Jurnal Ekonomi dan Bisnis
Publisher : Politeknik Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32722/eb.v10i1.84

This study aims to determine and analyze 1) the influence of corporate governance mechanisms on dividend policy and value of the firm; 2) the effects of dividend policy mediated in order of causality between corporate governance mechanisms and value of the firm. The sample used was the manufacturing companies listed in Indonesia Stock Exchange with the observation period starting in 2000 to 2007. The results showed that: 1) corporate governance mechanisms in istitutional ownership represented by institutional ownership have a positive and significant impact on dividend policy represented by dividend payout ratio; 2) corporate governance mechanisms are represented by institutional ownership, independent boards, and board’s size have a positive effect and significant impact on dividend policy, represented by Tobin's q; and 3) the dividend policy does not mediate the relationship of causality between corporate governance mechanisms (which are represented by boards institutional ownership and board’s size) with Tobin's q. Key Word : corporate governance mechanism, value of the firm, boards independent, dividend payout ra

PENGARUH GROWTH DAN LEVERAGE TERHADAP PRICE TO BOOK VALUE DALAM MEDIASI RETURN ON EQUITY DAN DIVIDEND PAYOUT RATIO Mochamadi Umar Mai
Ekonomi & Bisnis Vol 11 No 1 (2012): Jurnal Ekonomi dan Bisnis
Publisher : Politeknik Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32722/eb.v11i1.97

This study aims to examine the influence of leverage and growth to price book value, and test the mediation return on equity and dividend payout ratio in the causal relationship. The study population was categorized as a company of Jakarta Islamic Index listed on the Indonesia Stock Exchange in the period 2004-2009. Data collection methods used is purposive sampling. Criteria on the sample used, the company must have positive earnings per share and issued financial statements make it possible to determine the variables of the study. Testing of all hypotheses in this study using path analysis with Amos 16.0 package program. Furthermore, some important findings from this study can be stated as follows: 1) growth does not significantly effect the price to book value, 2) leverage has positive and significant effect on the price to book value, 3) return on equity and dividend payout ratio to mediate the influence growth of the price to book value. However, this study found no evidence that the return on equity mediates the effect of leverage on price to book value. Key Word : corporate governance mechanism, value of the firm, boards independent, dividend payout ratio

KEPUTUSAN STRUKTUR MODAL, TINGKAT PRODUKTIVITAS DAN PROFITABILITAS,SERTA NILAI PERUSAHAAN (Kajian Atas Perspektif Teori Dasar Struktur Modal) Muhamad Umar Mai
Ekonomi & Bisnis Vol 12 No 1 (2013): Jurnal Ekonomi dan Bisnis
Publisher : Politeknik Negeri Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32722/eb.v12i1.649

Abstract The purpose of this study is to investigate and analyze: First, the effect of capital structure decisions towards the level of productivity of firm. Second, the effect of capital structure decisions and the level of productivity towards the company's profitability. Third, the effect of capital structure decisions and profitability towards achievements of the value of firm. This study conducted at the manufacturing companies went public in the Indonesia Stock Exchange, with the observation period from 2010 to 2012.The results showed that the use of debt in the capital structure of firm is proxied total debt to total assets ratio (leverage) when controlled properly in the sense of caution or care, it will have a positive impact to the profitability proxy return on equity and value of the firm. is proxied price to book value. However, manufacturing firms are profitable in the period 2010 to 2012 in the Indonesia Stock Exchange has a strong tendency to reduce the portion of debt in their capital structure. Keywords: Capital structure, leverage and debt-to-equity ratio, Productivity, total assets turnover; Profitability, return on investment; Value of the firm, price to book value. Abstrak Tujuan penelitian ini adalah untuk mengetahui dan menganalisis: Pertama, pengaruh keputusan struktur modal terhadap tingkat produktivitas perusahaan. Kedua, pengaruh keputusan struktur modal dan tingkat produktivitas terhadap profitabilitas perusahaan. Ketiga, pengaruh keputusan struktur modal dan profitabilitas terhadap capaian nilai perusahaan. Penelitian ini dilakukan pada perusahaan-perusahaan manufaktur go public di Bursa Efek Indonesia (BEI), dengan periode pengamatan mulai tahun 2010 sampai dengan tahun 2012.Hasil penelitian menunjukkan bahwa penggunaan utang dalam struktur modal perusahaan yang diproksi total debt to total assets ratio (leverage)apabila dikendalikan dengan benar dalam arti hati-hati atau cermat, maka akan berdampak positif terhadap peningkatan profitabilitas diproksi return on equity dan nilai perusahaan diproksi price to book value.Namun demikian, perusahaan-perusahaan manufaktur yang profitable di BEI periode 2010-2012 mempunyai kecenderungan kuat untuk mengurangi porsi utang dalam struktur modalnya. Kata Kunci:Struktur modal, leverage dan debt to equity ratio;Produktivitas, total assets turn over; Profitabilitas, return on invesment; Nilai perusahaan, price to book value.

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