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All Journal IJTIHAD Jurnal Wacana Hukum Islam dan Kemanusiaan Multidiciplinary Output Research for Actual and International Issue (Morfai Journal) International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) COMSERVA: Jurnal Penelitian dan Pengabdian Masyarakat Jurnal Ilmiah Mahasiswa Fakultas Hukum Universitas Malikussaleh International Review of Practical Innovation, Technology and Green Energy (IRPITAGE) Journal Research of Social Science, Economics, and Management Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Zulfan
Universitas Malikussaleh
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Social Sciences Other

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THE EFFECT OF CAPITAL STRUCTURE, COMPANY SIZE, INTEREST RATE, PROFITABILITY AND REVENUE GROWTH ON STOCK PRICES (Case Study on Transportation Companies in the Air, Land and Sea Transportation Sub-Sector Listed on the IDX) M Albani; Chairil Akhyar; Marzuki; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 2 (2025): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i2.274

Abstract

This study aims to analyze the effect of capital structure, firm size, interest rates, profitability, and revenue growth on stock prices of transportation companies in the air, land, and sea transportation sub-sectors listed on the Indonesia Stock Exchange during the 2019–2023 period. The research data were obtained from the official website www.idx.co.id. This study employed a purposive sampling technique, resulting in a sample of 16 companies with a total of 80 observational data points. The data were analyzed using the Panel Data Regression method with the aid of EViews 12 software, employing the Random Effect Model. The results of the study show that capital structure (DER) has a positive and significant effect on stock prices. Firm size has a positive but not significant effect on stock prices. Interest rates (BI Rate) have a positive but not significant effect on stock prices. Profitability (ROA) has a positive but not significant effect on stock prices. Revenue growth (Rev Growth) has a positive and significant effect on stock prices. Simultaneously, capital structure (DER), firm size, interest rates (BI Rate), profitability (ROA), and revenue growth (Rev Growth) collectively have a positive and significant effect on stock prices.
FACTORS AFFECTING FINANCIAL DISTRESS IN FINANCIAL SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019-2023 Bambang Arjuna Putra; Rico Nur Ilham; Ghazali Syamni; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 2 (2025): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i2.275

Abstract

This study aims to examine the effect of firm growth, operating cash flow, profitability, and firm size on financial distress in financial sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period. The research employs a quantitative method with a sample of 93 companies selected through purposive sampling from a total population of 105 companies. Data were obtained from financial statements and analyzed using panel data regression with EViews 13. The findings reveal that firm growth and profitability have a significant negative effect on financial distress, while operating cash flow shows no significant effect. In contrast, firm size has a significant positive effect on financial distress. This study is expected to serve as a reference for management in financial sector companies to consider these indicators as benchmarks in assessing the potential risk of financial distress.
THE EFFECT OF INFLATION, INTEREST RATES, AND EXCHANGE RATES ON STOCK PRICES IN BANKING SUB-SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2019-2024 Fadilla Putri Siregar; Rico Nur Ilham; Marzuki; Zulfan
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 4 No. 2 (2025): October
Publisher : PT. Radja Intercontinental Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/jaruda.v4i2.276

Abstract

This study is to examine the influence of inflation, interest rates, and exchange rates on stock prices in banking sub-sector companies listed on the Indonesia Stock Exchange for the 2019-2024 period. The data of this research can be accessed on the official website of www.idx.co.id. The sample in this study is 41 companies. The data analysis tool in this study uses the Data Panel Regression method with the Eviews 12 application tool. The results of the study found that Inflation has a positive but insignificant effect on stock prices, interest rates have a negative and significant effect on stock prices, exchange rates have a positive and significant effect on stock prices.
TRAINING ON THE IMPLEMENTATION OF STANDARD OPERATING PROCEDURES (SOP) AND DIGITAL-BASED FINANCIAL RECORDING TO BUILD INNOVATION CAPABILITIES OF MSMES IN LANCANG GARAM VILLAGE, LHOKSEUMAWE Marzuki; Darmawati Muchtar; Jullimursyida; Zulfan
International Review of Practical Innovation, Technology and Green Energy (IRPITAGE) Vol. 6 No. 2 (2026): July-October 2026
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.21879829

Abstract

Problem Context: Micro, Small, and Medium Enterprises (MSMEs) in Lhokseumawe play a vital role as the backbone of the regional economy. However, this sector still faces substantial challenges in terms of internal management, particularly related to unstandardized Standard Operating Procedures (SOPs) and manual financial recording practices. These governance inadequacies are exacerbated by regional economic pressures, including inflationary volatility that demands highly accurate margin efficiency. These issues hamper accountability, access to formal capital, and limit MSME Innovation Capabilities. Intervention Objective:This Community Service (PkM) activity aims to improve MSME operational efficiency through knowledge transfer and assistance in the implementation of simple SOPs, as well as improve financial accountability through the adoption of digital-based financial recording (Digital Financial Literacy). Specifically, this program is aimed at establishing the structural foundations necessary forpartner MSMEs to have higher Innovation Capability. Method: This study uses a Participatory Action Research (PAR) approach conducted in three structured stages: preparation (initial needs identification), implementation (interactive training, demonstrationof mobile recording applications, and hands-on practice), and evaluation (measuring literacy improvements through pre- and post-tests). Participants consisted of MSMEs in Lancang Garam Village, Lhokseumawe. The evaluation results showed a very significantincrease in digital financial literacy scores and understanding of SOPs. Partner MSMEs demonstrated a high level of adoption of digital financial recording applications and were able to prepare simple profit and loss reports in accordance with SAK EMKMprinciples. The implementation of SOPs and financial formalization collectively increased managerial confidence and created a measurable foundation. Implications: This PkM intervention proves that process standardization (SOPs) and digital financialaccountability are fundamental prerequisites that must be met before MSMEs can effectively move towards Innovation Capabilityand increased bankability (access to People's Business Credit/KUR).
Co-Authors Adnan Adnan Akhyar, Chairil Asy-Syura Ayu Namira Sasti Bambang Arjuna Putra Christian maichel Cut Putri Mellita Sari Delia Ananda Fadilla Putri Siregar Fazliati Frengki Putra Ramansyah Ghazali Syamni Heri Susan Heriyana Heriyana Husaini Husni Husni Iklil Ikramuddin, Ikramuddin Jullimursyida Jummaini M Albani Mardiaton, Mardiaton Marzuki Marzuki Mawaddah Miftahul Jannah Muchtar, Darmawati Muhammad Hatta Muhammad Syahputra Munira Ulfa Muttaqien Nada Myslara Nurainun Nurarafah Nurlela Rauzatul Fitri Rico Nur Ilham Rifzan Fikra Ristati Ristati Sari Yulis Terfiadi Siti Helmyati Siti Zahara Srimulyani Srimulyani Suci Ramandhani Sudana Bambang Suganda Sumiadi Sumiadi Teuku Yudi Afrizal Wardhiah, Wardhiah Zul Akli