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All Journal Jurnal Riset Akuntansi Terpadu MABIS: Manajemen dan Bisnis Jurnal Ilmu Ekonomi Manajemen dan Akuntansi MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Idil Rakhmat Susanto
Universitas Muhammadiyah Makassar
Economics, Econometrics & Finance Social Sciences

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Does the Dividend Policy, Liquidity, Activity and Leverage Increases Corporate Value? (Evidence on the Jakarta Islamic Index) Idil Rakhmat Susanto; Ismail Badollahi; Wahyuni Wahyuni; Nurhidayah Nurhidayah
Jurnal Riset Akuntansi Terpadu Vol 14, No 2 (2021)
Publisher : FEB Universitas Sultan Ageng Tirtayasa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35448/jrat.v14i2.10388

Abstract

This study aims to examine the effect of dividend policy, liquidity, activity, and leverage on companies listed on the Jakarta Islamic Index. The sample used is a balanced data panel in 16 manufacturing companies from 2014 to 2018. This study uses multivariate analysis with a random effect model as a testing model for the research sample. The results show that dividend and liquidity policies are able to increase firm value, this shows that companies with good dividend policies and benefits for various parties can have a positive impact on increasing corporate value as well as good liquidity which will certainly be a positive signal for investors and have a good impact company. Activity and Leverage have no effect on Firm Value, this is also evidence that inefficient activities will have an impact on poor company productivity, and very high leverage can also be a negative signal for investors because the company will be seen only in debt to carry out its activities
Foreign and domestic ownership as the mediator Between investment strategy and company performance Ismail Badollahi; Idil Rakhmat Susanto; Nurhidayah Nurhidayah; Wahyuni Wahyuni
Manajemen dan Bisnis Vol 21, No 2 (2022): September 2022
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v21i2.569

Abstract

The study aims to examine the moderating effect of the ownership structure on the relationship strategi investasi and the comprehensive firm performance in ASEAN. Using data from financial reports and sustainability report. Samples are 34 nonfinancial companies in ASEAN 2007 until 2019. The sample testing method is unbalanced panel data regression to test hypothesis. Th results shows Foreign and domestic ownership moderate the relationship between strategi investasi and productivity and kinerja keuangan. This research also proves that foreign and domestic ownership cannot form the relationship between strategi investasi and kinerja lingkungan. This study gives additional evidence as confirmation of the theory of Industrial Organization about the implementation of the corporate strategy is influenced by external factors, namely the role of foreign ownership in improving corporate performance. This study gives new insight to the company about the importance of considering the strategi investasi based R&D and the role of foreign and domestic ownership to increase productivity, kinerja keuangan and kinerja lingkungan.
Foreign and domestic ownership as the mediator Between investment strategy and company performance Ismail Badollahi; Idil Rakhmat Susanto; Nurhidayah Nurhidayah; Wahyuni Wahyuni
Manajemen dan Bisnis Vol 21, No 2 (2022): September 2022
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/jmb.v21i2.569

Abstract

The study aims to examine the moderating effect of the ownership structure on the relationship strategi investasi and the comprehensive firm performance in ASEAN. Using data from financial reports and sustainability report. Samples are 34 nonfinancial companies in ASEAN 2007 until 2019. The sample testing method is unbalanced panel data regression to test hypothesis. Th results shows Foreign and domestic ownership moderate the relationship between strategi investasi and productivity and kinerja keuangan. This research also proves that foreign and domestic ownership cannot form the relationship between strategi investasi and kinerja lingkungan. This study gives additional evidence as confirmation of the theory of Industrial Organization about the implementation of the corporate strategy is influenced by external factors, namely the role of foreign ownership in improving corporate performance. This study gives new insight to the company about the importance of considering the strategi investasi based R&D and the role of foreign and domestic ownership to increase productivity, kinerja keuangan and kinerja lingkungan.
The Effect of ESG Performance on Profitability among Companies Listed on the Indonesian Stock Exchange Irma Agusti; Idil Rakhmat Susanto; Safri Haliding
MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis Vol. 4 No. 1 (2026): Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Publisher : LP3M INSTITUT KH YAZID KARIMULLAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59246/j64pf451

Abstract

The growing emphasis on sustainable business practices has increased the importance of Environmental, Social, and Governance (ESG) performance as a strategic factor influencing corporate financial outcomes. However, empirical findings regarding the relationship between ESG performance and profitability remain inconclusive, particularly in emerging markets. This research investigates the effect of ESG performance on profitability among companies included in the IDX ESG Leaders Index during the 2022–2024 period. A quantitative approach was employed using secondary data obtained from annual reports and sustainability reports. The sample consisted of 17 non-financial companies selected through purposive sampling, resulting in 51 firm-year observations. ESG performance was measured based on disclosure indicators aligned with the Global Reporting Initiative (GRI) framework, while profitability was proxied by Return on Assets (ROA). Data were analyzed using descriptive statistics, classical assumption tests, and simple linear regression with SPSS version 25. The findings reveal that ESG performance has a positive and statistically significant effect on profitability, with a regression coefficient of 24.376 and a significance value of 0.006. The coefficient of determination (R²) of 0.144 indicates that ESG performance explains 14.4% of the variation in profitability, while the remaining variation is influenced by other factors outside the model. These results reinforce stakeholder and signaling theories, suggesting that effective ESG implementation contributes to stronger financial performance and long-term corporate sustainability.
Analysis of the Implementation of Good Corporate Governance in Enhancing Company Performance at PT Kawasan Industri Makassar (KIMA) Sarmila Sarmila; Idil Rakhmat Susanto; Mellisyah Mellisyah
MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis Vol. 4 No. 1 (2026): Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Publisher : LP3M INSTITUT KH YAZID KARIMULLAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59246/eca03t43

Abstract

Good Corporate Governance (GCG) has become an essential mechanism for strengthening organizational effectiveness, enhancing stakeholder trust, and supporting sustainable business performance, particularly in industrial estate management companies that operate within complex governance environments. Despite the growing importance of governance practices, empirical studies focusing on industrial estate companies remain limited compared to those conducted in the banking and service sectors. This research explores the implementation of GCG principles at PT Kawasan Industri Makassar (KIMA) and examines their contribution to company performance. A descriptive qualitative approach was employed using primary and secondary data collected through interviews, observations, documentation, and data triangulation. Informants consisted of personnel directly involved in governance implementation, including representatives from the corporate governance division and the Internal Audit Unit. The findings indicate that the principles of transparency, accountability, responsibility, independence, and fairness have been implemented through governance guidelines, internal control systems, and organizational supervision mechanisms. These practices contribute to improved operational effectiveness, stronger internal control, enhanced decision-making quality, and increased stakeholder confidence. However, several challenges remain, including uneven employee understanding of governance principles, limited information transparency, and the need for more intensive governance training and evaluation systems. The findings contribute to the development of corporate governance literature by providing empirical evidence from the industrial estate sector and highlighting practical strategies for strengthening governance effectiveness in similar organizations.
A Comparative Analysis of Cost Efficiency and Profitability in Banking: A Study of Conventional and Digital Banks in Indonesia Sarah Zettira Agam Darwis; Muh Risnandar; Idil Rakhmat Susanto
Ilmu Ekonomi Manajemen dan Akuntansi Vol. 7 No. 1 (2026): Jurnal Ilmu Ekonomi Manajemen dan Akuntansi
Publisher : Universitas Mohammad Husni Thamrin

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37012/ileka.v7i1.3625

Abstract

The banking sector's business model has changed due to digital transformation, which has also driven the emergence of digital banks as a more adaptive option for financial services. However, there are still differences of opinion regarding the success of digital banks' business models compared to large-scale traditional banks, especially in terms of profitability and operational efficiency. The purpose of this study is to compare the operational cost efficiency and profitability of digital banks and traditional banks in the KBMI 4 category listed on the Indonesia Stock Exchange for the years 2023–2025. Using secondary data from the annual financial reports of eight sample banks, this study employed a comparative quantitative methodology. Descriptive statistics, homogeneity tests, normality tests, and Independent Samples t-tests were used in the analysis. Return on Assets (ROA) showed no significant difference, while Operating Expenses to Operating Income (BOPO), Cost to Income Ratio (CIR), and Net Interest Margin (NIM) did show significant differences. Although digital banks generate higher interest margins, conventional banks have superior operational efficiency (KBMI 4). However, because technology investments are expensive, these benefits do not fully improve profitability. This study contributes to empirical data on the digital transformation of Indonesian banking and shows that the ability to manage resources and leverage economies of scale, in addition to digitalization, determines competitive advantage. To obtain a more complete picture, it is recommended that future studies use larger sample sizes, observation durations, and better analytical techniques.
Co-Authors Badollahi, Ismail Irma Agusti Mellisyah Mellisyah Muh Risnandar Nurhidayah Nurhidayah Safri Haliding Sarah Zettira Agam Darwis Sarmila Sarmila wahyuni