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All Journal Equilibrium: Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi JIKA: Jurnal Ilmu Keuangan dan Perbankan POINT International Journal of Business, Economics, and Social Development Interdisciplinary Social Studies Jurnal Ekonomi Jurnal Publika Pengabdian Masyarakat Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL) Journal Research of Social Science, Economics, and Management
Erwin Budianto
Universitas Swadaya Gunung Jati
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Public Health Social Sciences

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Pengaruh Current Ratio Dan Debt To Equity Ratio Terhadap Return On Equity Pada Perusahaan Subsektor Batu Bara Maiya Liza; Erwin Budianto; Uus Khasanah
POINT: Jurnal Ekonomi dan Manajemen Vol 4 No 1 (2022): POINT JURNAL
Publisher : Program Studi Manajemen Universitas Muslim Maros

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46918/point.v4i1.1247

Abstract

Variabel yang digunakan dalam penelitian ini adalah Current Ratio dan Debt to Equity Ratio sebagai variabel independen dan Return On Equity sebagai variabel dependen. Jenis penelitiannya adalah asosiatif kausal. Sampel dipilih dengan menggunakan metode purposive sampling dan diperoleh sebnayak 9 perusahaan subsektor Batubara. Data yang digunakan merupakan daya laporan keuangan yang dari Bursa Efek Indonesia. Metode analisis data menggunakan uji statistik deskriptif, uji asumsi klasik, uji t, uji F dan koefisien determinasi. Hasil penelitian secara parsial menunjukkan bahwa Current Ratio dan Debt to Equity Ratio berpengaruh terhadap Return On Equity. Secara simultan, dihasilkan bahwa Current Ratio dan Debt to Equity Ratio berpengaruh terhadap Return On Equity. Kata kunci: Current Ratio, Debt to Equity Ratio, Return On Equity
PENINGKATAN KUALITAS LAPORAN KEUANGAN PRODUSEN TAS MELALUI PENDAMPINGAN PENCATATAN KEUANGAN DAN PERHITUNGAN HPP Erwin Budianto; Mardiyani Mardiyani; Maiyaliza Maiyaliza
Jurnal Publika Pengabdian Masyarakat Vol 2, No 01 (2020): Jurnal Publika Pengabdian Masyarakat
Publisher : Institut Informatika dan Bisnis Darmajaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30873/jppm.v2i01.2480

Abstract

Berkembangnya perekonomian Indonesia ditandai dengan banyaknya UMKM yang telah berdiri diberbagai daerah, Kabupaten Cirebon merupakan salah satu daerah yang memiliki banyak Usaha mikro yang potensial, namun menghadapi permasalah paling klasik pada aspek keuangan. Banyak sekali UMKM yang masih lemah dalam hal pencatatan keuangan.. Kendala utama yang dihadapi adalah belum bisa menentukan harga pokok produksi yang sesuai dan belum adanya perencanaan keuangan yang baik bagi usahanya, sehingga pengelolaan keuangannyapun masih dilakukan secara “Management by Laci” tanpa ada catatan atau pembukuan yang rinci. Tujuan dari program ini adalah untuk memberdayakan UMKM agar mampu mengelola keuangan usahanya dengan efektif dan terencana, serta memberikan pemahaman kepada pelaku usaha akan pentingnya pencatatan keuangan UMKM dalam rangka mengambil keputusan keuangan yang lebih terarah. Kegiatan pemberdayaan UMKM dilaksanakan dalam kurun waktu 4 bulan yaitu dari bulan Nopember - Februari 2020. Lokasi kegiatan dilaksanakan di Desa Sindangkasih, kecamatan Beber, Kabupaten Cirebon. Metode pemberdayaan masyarakat yang digunakan dalam kegiatan ini adalah Participation Learning and action (PLA). Hasil yang didapatkan setelah dilaksanakan kegiatan pemberdayaan UMKM yaitu Pelaku Usaha Sudah Mampu menentukan Harga Pokok Produk dan menyusun laporan laba rugi per bulan januari.Kata kunci:kualitas laporan keuangan, pencatatan keuangan, penentuan HPP
IMPACT OF INFLATION AS A CREDIT RISK MODERATOR ON THE PROFITABILITY OF INDONESIAN BANKING SECTOR Abdul Haris; Dev Anand; Erwin Budianto
Jurnal Ekonomi Vol. 12 No. 01 (2023): Jurnal Ekonomi, 2023 Periode Januari - Maret
Publisher : SEAN Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The purpose of this study is to determine the signification of factors that affect the company's profitability through the Inflation factor as a moderation variable. The research method used is a quantitative research method. The population in this study of financial institutions in the banking sector in Indonesia is conventional commercial banks and observational data during 2016 - 2020. The sampling measurement technique uses purposive sampling. The sampling technique uses secondary data, namely published financial statements. The data analysis technique used is to use descriptive statistical analysis before and after the existence of interactive variables, then followed by multiple regression and testing moderation variables all variables tested using the entered method. The results of the study explained that before the moderation variable, namely the credit risk interaction variable, it had an insignificant effect on profitability.
The Impact of Current Ratio, Inventory Turnover, on Return on Assets In Listed Mining Sector Companies on IDX In 2019-2022 Novi Dwi Putri; Miftah Alfarid Fathurahman; Astri Hartianti; Erwin Budianto
Journal Research of Social Science, Economics, and Management Vol. 3 No. 11 (2024): Journal Research of Social Science, Economics, and Management
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jrssem.v3i11.658

Abstract

The mining sector in Indonesia is one of the fastest growing sectors and contributes significantly to the national economy. One of the important financial performance indicators for mining companies is Return On Assets (ROA). This study aims to analyze the effect of Current Ratio and Inventory Turnover on ROA in mining sector companies listed on the Indonesia Stock Exchange in 2019-2022. This research uses secondary data obtained from the financial statements of mining companies listed on the Indonesia Stock Exchange for 2019-2022. The data analysis technique used is multiple linear regression. The results showed that Current Ratio did not have a significant influence on ROA, while Inventory Turnover had a positive and significant influence on ROA. This means that the higher the Inventory Turnover, the higher the company's ROA. This study found that Inventory Turnover is a factor that affects ROA in mining sector companies listed on the Indonesia Stock Exchange in 2019-2022. Therefore, mining companies need to improve the efficiency of their inventory management to increase ROA.
The Effect of Inventory Management Efficiency, Receivables Management, and Asset Turnover on Profitability in Retail Companies Listed on the IDX for the 2020-2024 Period Sri Nanda Hikmatulloh; Erwin Budianto
Interdisciplinary Social Studies Vol. 5 No. 3 (2026): Interdisciplinary Social Studies
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v5i3.1082

Abstract

The Indonesian retail sector faces profitability pressures from sales–profit margin imbalances, weak purchasing power, and working capital inefficiencies, yet empirical evidence on their simultaneous effects in the post-pandemic period remains scarce. This research analyzes the effect of inventory management efficiency, receivables management, and asset turnover on the profitability of retail companies listed on the Indonesia Stock Exchange for the 2020–2024 period. Profitability is proxied by Return on Assets (ROA), while the independent variables used are Inventory Turnover (ITO), Receivable Turnover (RTO), and Total Asset Turnover (TATO). The study employed an associative quantitative approach with secondary data from annual financial statements of 7 retail companies (35 observations), analyzed using multiple linear regression assisted by IBM SPSS. The results showed that ITO had a negative and insignificant effect on ROA (sig. 0.193), RTO had a positive and significant effect on ROA (sig. 0.001), while TATO had a positive but insignificant effect (sig. 0.962). Simultaneously, the three variables had a significant effect on ROA (sig. 0.006) with a determination coefficient value (R²) of 0.325, meaning that 32.5% of the variation in profitability can be explained by the model. This indicates that the effectiveness of receivables management is the dominant factor in increasing the profitability of retail companies
Liquidity and Leverage Effect on Firm Profitability: Evidence from Property and Real Estate Companies in Indonesia (2021-2024) Alda Wulan Vitari; Erwin Budianto
International Journal of Business, Economics, and Social Development Vol. 7 No. 3 (2026): International Journal of Business, Economics, and Social Development (IJBESD)
Publisher : Rescollacom (Research Collaborations Community)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46336/ijbesd.v7i3.1212

Abstract

This study examines the influence of liquidity and leverage on firm profitability in property and real estate companies listed on the Indonesia Stock Exchange during the 2021–2024 period. The property sector represents a capital-intensive industry characterized by long project cycles, high financing requirements, and sensitivity to macroeconomic fluctuations. These characteristics make financial structure and working capital management critical determinants of corporate performance. Profitability is measured using Return on Assets (ROA), while liquidity and leverage are proxied by the Current Ratio (CR) and Debt to Equity Ratio (DER), respectively. A quantitative research design was employed using secondary data derived from audited annual financial reports. The sample consisted of 18 companies selected through purposive sampling, resulting in 72 firm-year observations. Following classical assumption testing and outlier adjustment, 62 observations were deemed suitable for regression analysis. Multiple linear regression analysis was conducted using IBM SPSS version 27. The empirical findings reveal that liquidity exerts a significant negative effect on profitability, indicating that excessive current assets may reduce asset utilization efficiency. Similarly, leverage demonstrates a significant negative relationship with profitability, suggesting that higher debt levels increase financial burdens that suppress net income. Simultaneously, liquidity and leverage jointly influence profitability, highlighting the importance of balanced financial management strategies. These results emphasize that both overinvestment in liquid assets and excessive reliance on debt financing may weaken firm performance. Overall, the study underscores the necessity for property companies to optimize working capital allocation and maintain a sustainable capital structure to enhance profitability and asset efficiency.
The Effect of Debt-to-Equity Ratio and Current Ratio on Stock Price with Earnings per Share as an Intervening Variable in Garment and Textile Subsector Companies Listed on the Indonesia Stock Exchange for the 2020–2024 Period Irbah Qurrotu’aeni; Erwin Budianto
Interdisciplinary Social Studies Vol. 5 No. 4 (2026): Interdisciplinary Social Studies
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/iss.v5i4.1135

Abstract

This study aims to analyze the effect of the Debt-to-Equity Ratio (DER) and Current Ratio (CR) on stock prices, with Earnings per Share (EPS) as an intervening variable, in garment and textile subsector companies listed on the Indonesia Stock Exchange for the 2020–2024 period. This study employs an associative quantitative approach using secondary data obtained from financial statements and stock price records. The research sample consisted of 10 companies selected through purposive sampling, yielding a total of 50 units of research data. Data analysis was conducted using path analysis in SPSS, with mediation testing performed using the Sobel test. The results indicate that the Debt-to-Equity Ratio (DER) has no significant effect on Earnings per Share (EPS), whereas the Current Ratio (CR) has a significant effect on Earnings per Share (EPS). Earnings per Share (EPS) has no significant effect on stock price. Both the Debt-to-Equity Ratio (DER) and the Current Ratio (CR) significantly affect stock price. The results of the Sobel test show that Earnings per Share (EPS) does not mediate the effect of the Debt-to-Equity Ratio (DER) on stock price but does mediate the effect of the Current Ratio (CR) on stock price. This study concludes that a company's liquidity plays an important role in the formation of stock prices, both directly and through earnings per share, whereas capital structure exerts a direct effect without the mediating role of profitability.
KINERJA KEUANGAN SEBAGAI MEDIATOR ANTARA EFISIENSI OPERASIONAL DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN Dafa Shahwalludin Hidayat; Erwin Budianto
Equilibrium : Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi Vol 15, No 1 (2026): April
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah (LPPI) Universitas Muhammadiyah Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35906/equili.v15i1.2786

Abstract

A B S T R A KPenelitian ini dilatarbelakangi oleh tingginya fluktuasi nilai perusahaan di sektor energi yang dipicu oleh volatilitas harga komoditas global, sehingga menciptakan ketidakpastian bagi investor dalam menilai prospek perusahaan. Sebagai respon terhadap dinamika tersebut, penelitian ini mengeksplorasi bagaimana efisiensi operasional dan struktur modal memengaruhi nilai perusahaan dengan menempatkan kinerja keuangan sebagai jembatan mediasi pada sektor energi periode 20222024. Efisiensi operasional diukur menggunakan Total Asset Turnover (TATO), struktur modal diukur menggunakan Debt to Equity Ratio (DER), kinerja keuangan diukur menggunakan Return on Assets (ROA), dan nilai perusahaan diukur menggunakan Price to Book Value (PBV). Melalui pendekatan kuantitatif dan analisis SEM-PLS terhadap 27 perusahaan dengan 81 observasi. Hasil penelitian menunjukkan bahwa TATO berpengaruh positif signifikan terhadap ROA, sedangkan DER berpengaruh negatif signifikan terhadap ROA. TATO tidak berpengaruh langsung terhadap PBV, sementara DER dan ROA berpengaruh positif signifikan terhadap PBV. Selain itu, ROA terbukti memediasi pengaruh TATO dan DER terhadap PBV. Temuan ini menegaskan bahwa kinerja keuangan merupakan jalur mediasi yang krusial dalam pembentukan nilai perusahaan sektor energi.A B S T R A C TThis study is motivated by the high fluctuations in the value of companies in the energy sector triggered by global commodity price volatility, creating uncertainty for investors in assessing company prospects. In response to these dynamics, this study explores how operational efficiency and capital structure affect firm value by placing financial performance as a mediating bridge in the energy sector for the period 20222024. Operational efficiency is measured using Total Asset Turnover (TATO); capital structure is measured using the Debt to Equity Ratio (DER); financial performance is measured using Return on Assets (ROA); and company value is measured using Price to Book Value (PBV), through a quantitative approach and SEM-PLS analysis of 27 companies with 81 observations. The results show that TATO has a significant positive effect on ROA, while DER has a significant negative effect. TATO has no direct effect on PBV, whereas DER and ROA have a significant positive effect on PBV. In addition, ROA mediates the effect of TATO and DER on PBV. These findings confirm that financial performance is a crucial mediating of corporate value in the energy sector.
IMPLEMENTATION OF CASH FLOW AS A MEASURING TOOL IN PREDICTING FUTURE NET INCOME : (CASE STUDY AT KEDAI NYOBIAN 8 DAILY PERIOD SEPTEMBER – OCTOBER 2020) Nurhana Dhea Parlina; Erwin Budianto
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 1 No. 1 (2021): DECEMBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1638.452 KB) | DOI: 10.55047/marginal.v1i1.6

Abstract

In Indonesia, MSMEs are protected and have a legal shield such as the Presidential Decree No. 19 of 1998 and several other regulations. Where at this time, many MSME businesses are starting to grow both on a household and large scale, this includes Culinary Business. Culinary businesses are one of the many MSME that are starting to flourish, both on a domestic and big scale, at present moment. This business is in high demand among teenagers and adults. With a limited budget, this business may be launched at home, and it has a potential future. Therefore, the background behind the realization of Kedai Nyobian 8 which is used as a case study of problems that occur in the operational activities of Kedai Nyobian 8. The purpose of this study is to analyze net income in predicting operating cash flows in the future. The research method used is quantitative method. The population in this study is a case study at Kedai Nyobian 8 with a number of samples in the form of financial statements for September for 30 days. While October for 26 days, hence the total sample is 56 observations. The sampling measurement technique is a case study at Kedai Nyobian 8 using Saturated Sample. Therefore, Kedai Nyobian 8 will be more effective and achieve better results in the future by reducing unnecessary costs and anticipating future earnings in cash flow.    
The Influence of Financial Ratios on Retail Firm Profitability in Indonesia Lilis Setiawati; Erwin Budianto
Jurnal Ilmu Keuangan dan Perbankan (JIKA) Vol. 15 No. 2: Juni 2026
Publisher : Program Studi Keuangan & Perbankan, Fakultas Ekonomi dan Bisnis, Universitas Komputer Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34010/jika.v15i2.19677

Abstract

This research aims to test and analyze the impact of the debt-to-asset ratio (DAR), total asset turnover (TATO), and firm size on return on assets (ROA) in retail companies listed on the Indonesia Stock Exchange (IDX). A quantitative approach was adopted in this research because using secondary data obtained from retail companies' financial reports selected during the observation period. The sampling technique was performed using purposive sampling based on the established criteria to produce a specific sample meet the research requirements. The data were compiled and analyzed using multiple linier regresion for determine both of simultan and partial effects of independent variables on companies' profitability. The results of this research indicate that DAR, TATO, and firm size simultaneously have a significant effect on ROA. However, partially, DAR and firm size have a significant influence on ROA, while TATO does not show a significant effect. These findings imply that capital structure and firm size play an important role in influencing the profitability of retail companies. Therefore, this study provides useful insights for company management in formulating effective financial strategies, as well as for investors in making appropriate investment decisions to improve overall company performance. Keywords: DAR; TATO; Firm Size; ROA; Retail Companies
Co-Authors Alda Wulan Vitari Astri Hartianti Dafa Shahwalludin Hidayat Dev Anand Haris Budiana Irbah Qurrotu’aeni Lilis Setiawati Maiya Liza Maiyaliza Maiyaliza Mardiyani Mardiyani Miftah Alfarid Fathurahman Novi Dwi Putri Nurhana Dhea Parlina Sri Nanda Hikmatulloh Uus Khasanah